# EDGAR Filing Document

**Accession Number:** 0000820892
**File Stem:** 0001193125-25-307631
**Filing Date:** 2025-12
**Character Count:** 828582
**Document Hash:** 05af0b5fdd91f86479299fbfd24153ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-307631.hdr.sgml**: 20251204

**ACCESSION NUMBER**: 0001193125-25-307631

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 22

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251204

**DATE AS OF CHANGE**: 20251204

**EFFECTIVENESS DATE**: 20251204

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NUVEEN INVESTMENT FUNDS INC
- **CENTRAL INDEX KEY:** 0000820892

**ORGANIZATION NAME:**
- **EIN:** 411418224
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05309
- **FILM NUMBER:** 251548538

**BUSINESS ADDRESS:**
- **STREET 1:** 333 WEST WACKER DR.
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 312-917-8146

**MAIL ADDRESS:**
- **STREET 1:** 333 WEST WACKER DR.
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST AMERICAN INVESTMENT FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SECURAL MUTUAL FUNDS INC
- **DATE OF NAME CHANGE:** 19910627

## Series and Classes Contracts Data

### Nuveen Short Term Municipal Bond Fund (Series ID: S000005564)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000015152 | Class A                                       | FSHAX           |
| C000015153 | Class I                                       | FSHYX           |
| C000137682 | Nuveen Short Term Municipal Bond Fund Class C | NAAEX           |

?xml version='1.0' encoding='ASCII'? Nuveen Investment Funds, Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

### FORM N-CSR

### CERTIFIED SHAREHOLDER REPORT OF REGISTERED

### MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-05309

Nuveen Investment Funds, Inc.

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive

Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Mark J. Czarniecki

Vice President and Secretary

901 Marquette Avenue

Minneapolis, Minnesota 55402

(Name and address of agent for service)

Registrant's telephone number, including area code: (<u>312) 917-7700</u>

Date of fiscal year end: <u>March</u> <u>31</u>

Date of reporting period: <u>September 30, 2025</u>

------

**Item 1.** **Reports to Stockholders.**<br>

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g10247g1g19w55.jpg) | <br>Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Short Term Municipal Bond Fund

Class A Shares/FSHAX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class A Shares of the Nuveen Short Term Municipal Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses**.** You can also request this information by contacting us at (800) 257-8787.

What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of**<br> **$10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class A Shares | $32 | 0.63% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $446063542 |
|  Total number of portfolio holdings | 353 |
|  Portfolio turnover (%) | 22% |

---

What did the Fund invest in? (as of September 30, 2025)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g10247g1g00a01.jpg)

![LOGO](g10247g1g00a02.jpg)

(1) The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor's (S&P), Moody's Investors Service, Inc. (Moody's) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.

1 continued>>

------

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

• prospectus   •  financial statements and other information   •  fund holdings   •  proxy voting information

You can also request this information at (800) 257-8787.

---

| | |
|:---|:---|
| 670690593_SAR_0925<br> 4875787 | ![LOGO](g10247g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g10247g1g19w55.jpg) | <br>Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Short Term Municipal Bond Fund

Class C Shares/NAAEX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class C Shares of the Nuveen Short Term Municipal Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses**.** You can also request this information by contacting us at (800) 257-8787.

What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of**<br> **$10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class C Shares | $72 | 1.43% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $446063542 |
|  Total number of portfolio holdings | 353 |
|  Portfolio turnover (%) | 22% |

---

What did the Fund invest in? (as of September 30, 2025)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g10247g1g00a03.jpg)

![LOGO](g10247g1g00a04.jpg)

(1) The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor's (S&P), Moody's Investors Service, Inc. (Moody's) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.

1 continued>>

------

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

• prospectus   •  financial statements and other information   •  fund holdings   •  proxy voting information

You can also request this information at (800) 257-8787.

---

| | |
|:---|:---|
| 670693506_SAR_0925<br> 4875787 | ![LOGO](g10247g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g10247g1g19w55.jpg) | <br>Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Short Term Municipal Bond Fund

Class I Shares/FSHYX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class I Shares of the Nuveen Short Term Municipal Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses**.** You can also request this information by contacting us at (800) 257-8787.

What were the Fund costs for the last six months? (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of**<br> **$10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class I Shares | $22 | 0.43% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $446063542 |
|  Total number of portfolio holdings | 353 |
|  Portfolio turnover (%) | 22% |

---

What did the Fund invest in? (as of September 30, 2025)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g10247g1g00a05.jpg)

![LOGO](g10247g1g00a06.jpg)

(1) The ratings disclosed are the highest rating given by one of the following national rating agencies: Standard & Poor's (S&P), Moody's Investors Service, Inc. (Moody's) or Fitch, Inc (Fitch). This treatment of split-rated securities may differ from that used for other purposes, such as for Fund investment policies. Credit ratings are subject to change. AAA, AA, A, and BBB are investment grade ratings; BB, B, CCC, CC, C and D are below-investment grade ratings. Holdings designated N/R are not rated by these national ratings agencies.

1 continued>>

------

Availability of additional information about the Fund

You can find additional information about the Fund at https://www.nuveen.com/en-us/mutual-funds/prospectuses, including its:

• prospectus   •  financial statements and other information   •  fund holdings   •  proxy voting information

You can also request this information at (800) 257-8787.

---

| | |
|:---|:---|
| 670690486_SAR_0925<br> 4875787 | ![LOGO](g10247g1g85u20.jpg) |

---

2.0 ------

**Item 2.** **Code of Ethics.** <br>

Not applicable to this filing.

------

**Item 3.** **Audit Committee Financial Expert.** <br>

Not applicable to this filing.

------

**Item 4.** **Principal Accountant Fees and Services.** <br>

Not applicable to this filing.

------

**Item 5.** **Audit Committee of Listed Registrants.** <br>

Not applicable to this registrant.

------

**Item 6.** **Investments.** <br>

(a) Schedule of Investments is included as part of the financial statements filed under Item 7 of this Form N-CSR.

(b) Not applicable.

------

**Item 7.** **Financial Statements and Financial Highlights for Open-End Management Investment Companies.** <br>

------

#### Portfolio of Investments September 30, 2025

#### All-American
See Notes To Financial Statements

(Unaudited)

SHARES

DESCRIPTION

VALUE

LONG-TERM INVESTMENTS - 101.8%

17,451,000

EXCHANGE-TRADED FUNDS - 0.5%

17,451,000

700,000

(a),(b)

Nuveen Municipal Income ETF

$

17,451,000

TOTAL EXCHANGE-TRADED FUNDS

(Cost $17,677,750)

17,451,000

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

3774212377

MUNICIPAL BONDS - 101.3%

3774212377

ALABAMA - 3.5%

$

1,400,000

Alabama State University, General Tuition and Fee Revenue

Bonds, Series 2025

.500

%

09/01/45

1,503,920

1,540,000

Alabama State University, General Tuition and Fee Revenue

Bonds, Series 2025

.750

09/01/50

1,660,993

1,790,000

(c) Baldwin County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, Novelis Corporation

Project, Series 2025B, (AMT), (Mandatory Put 6/01/32)

.625

06/01/55

1,795,368

3,500,000

Birmingham-Jefferson Civic Center Authority, Alabama, Special

Tax Bonds, Series 2018A

.000

07/01/38

3,491,475

3,500,000

Birmingham-Jefferson Civic Center Authority, Alabama, Special

Tax Bonds, Series 2018A

.000

07/01/43

3,256,783

15,000,000

Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Series 2022F, (Mandatory Put 12/01/28)

.500

11/01/53

16,002,756

10,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2023A, (Mandatory Put 10/01/30)

.250

01/01/54

10,747,151

24,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025A, (Mandatory Put 5/01/32)

.250

05/01/56

24,977,726

2,000,000

Hoover Industrial Development Board, Alabama,

Environmental Improvement Revenue Bonds, United States

Steel Corporation Proejcet, Series 2019, (AMT)

.750

10/01/49

2,021,399

4,220,000

Infirmary Health System Special Care Facilities Financing

Authority of Mobile, Alabama, Revenue Bonds, Infirmary Health

System, Inc., Series 2016A

.000

02/01/41

4,228,042

2,075,000

Jefferson County, Alabama, Sewer Revenue Warrants, Series

2024

.500

10/01/53

2,174,353

9,400,000

Mobile County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC

Project, Series 2024A, (AMT)

.000

06/01/54

9,053,031

6,800,000

Mobile County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC

Project, Series 2024B, (AMT)

.750

12/01/54

6,294,767

475,000

Mobile Spring Hill College Educational Building Authority,

Alabama, Revenue Bonds, Spring Hill College Project, Series

2015

.875

04/15/45

333,574

15,000,000

Southeast Energy Authority, Alabama, A Cooperative District

Energy Supply Revenue Bonds Series 2024A

.000

11/01/35

15,823,149

20,000,000

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 4, Series 2022B-1, (Mandatory Put

8/01/28)

.000

05/01/53

20,992,140

5,810,000

UAB Medicine Finance Authority, Alabama, Revenue Bonds,

Series 2019B

.000

09/01/48

5,316,954

TOTAL ALABAMA

129,673,581

ARIZONA - 2.2%

1,220,000

(c) Arizona Industrial Development Authority, Arizona, Economic

Development Revenue Bonds, Linder Village Project in

Meridian, Ada County, Idaho, Series 2020

.000

06/01/31

1,238,400

2,000,000

(c) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Heritage Academy - Gateway and Laveen

Pojects, Series 2021B

.000

07/01/51

1,705,503

19,000,000

(c) Arizona Industrial Development Authority, Arizona, Hotel

Revenue Bonds, Provident Group Falcon Properties LLC,

Project, Senior Series 2022A-1

.000

12/01/51

12,620,666

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

1,575,000

Arizona Industrial Development Authority, Senior National

Charter School Revolving Loan Fund Revenue Bonds, Social

Series 2023A

.250

%

11/01/53

$

1,599,779

2,660,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2007, (AMT), (Mandatory Put 6/15/28)

.100

12/01/37

2,677,128

8,515,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2019, (AMT), (Mandatory Put 6/01/29)

.000

06/01/49

8,695,826

9,530,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2022-2, (AMT), (Mandatory Put 9/01/27)

.000

09/01/52

9,693,274

1,000,000

Maricopa County Industrial Development Authority, Arizona,

Hospital Revenue Bonds, HonorHealth, Series 2019A

.000

09/01/35

1,041,487

2,235,000

Maricopa County Industrial Development Authority, Arizona,

Revenue Bonds, Banner Health, Series 2023A-2, (Mandatory

Put 5/15/28)

.000

01/01/53

2,344,378

6,380,000

Phoenix Civic Improvement Corporation, Arizona, Rental Car

Facility Charge Revenue Bonds, Series 2019A

.000

07/01/35

6,763,068

6,000,000

Phoenix Civic Improvement Corporation, Arizona, Revenue

Bonds, Civic Plaza Expansion Project, Series 2005B - FGIC

Insured

.500

07/01/39

7,185,436

3,500,000

(c) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, American Leadership

Academy Project, Refunding Series 2022. Forward Delivery

.000

06/15/41

3,002,856

1,000,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.250

12/01/28

1,054,889

13,155,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.000

12/01/32

14,372,656

7,000,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.000

12/01/37

7,519,965

TOTAL ARIZONA

81,515,311

ARKANSAS - 0.6%

5,045,000

(c) Arkansas Development Finance Authority, Arkansas,

Environmental Improvement Revenue Bonds, United States

Steel Corporation, Green Series 2022, (AMT)

.450

09/01/52

5,043,911

7,370,000

(c) Arkansas Development Finance Authority, Industrial

Development Revenue Bonds, Big River Steel Project, Series

2019, (AMT)

.500

09/01/49

7,070,754

5,000,000

(c) Arkansas Development Finance Authority, Industrial

Development Revenue Bonds, Big River Steel Project, Series

2020A, (AMT)

.750

09/01/49

4,835,569

5,545,000

Arkansas Development Finance Authority, Revenue Bonds,

Baptist Memorial Health Care, Refunding Series 2020B-1

.000

09/01/40

5,602,808

TOTAL ARKANSAS

22,553,042

CALIFORNIA - 15.9%

360,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/42

398,413

345,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/43

377,761

410,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/44

445,691

955,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/45

1,033,740

5,270,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/50

5,615,054

950,000

Anaheim Housing and Public Improvements Authority,

California, Revenue Bonds, Electric Utility Distribution System

Refunding Series 2025B

.000

10/01/40

1,007,296

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

2,000,000

Anaheim Housing and Public Improvements Authority,

California, Revenue Bonds, Electric Utility Distribution System

Refunding Series 2025B

.000

%

10/01/42

$

2,096,500

2,080,000

Anaheim Housing and Public Improvements Authority,

California, Revenue Bonds, Electric Utility Distribution System

Refunding Series 2025B

.000

10/01/43

2,171,932

1,065,000

Anaheim Housing and Public Improvements Authority,

California, Revenue Bonds, Electric Utility Distribution System

Refunding Series 2025B

.000

10/01/44

1,107,484

4,900,000

Atascadero Unified School District, California, General

Obligation Bonds, 2024 Election, Series 2025A

.000

08/01/50

5,152,588

10,050,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023D,

(Mandatory Put 11/01/28)

.500

05/01/54

10,734,326

21,445,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023E,

(Mandatory Put 9/01/32)

.000

02/01/55

23,423,042

22,580,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023G,

(Mandatory Put 4/01/30)

.250

11/01/54

24,494,581

5,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024B,

(Mandatory Put 12/01/32)

.000

01/01/55

5,297,814

10,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024D,

(Mandatory Put 9/01/32)

.000

02/01/55

10,985,662

9,275,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024G,

(Mandatory Put 8/01/32)

.000

11/01/55

9,825,297

19,500,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025D,

(Mandatory Put 7/01/34)

.000

10/01/55

20,986,637

2,630,000

(c) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Creekwood, Series 2021A

.000

02/01/56

1,732,473

25,260,000

(c) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Serenity at Larkspur Apartments,

Series 2020A

.000

02/01/50

16,414,979

5,000,000

California Health Facilities Financing Authority, California,

Revenue Bonds, Sutter Health, Refunding Series 2016B

.000

11/15/46

5,026,619

9,810,000

California Health Facilities Financing Authority, Revenue Bonds,

Adventist Health System/West, Series 2025A

.000

12/01/32

10,740,620

1,335,000

California Health Facilities Financing Authority, Revenue Bonds,

Adventist Health System/West, Series 2025A

.000

12/01/35

1,471,392

1,670,000

California Health Facilities Financing Authority, Revenue Bonds,

Children's Hospital Los Angeles, Series 2017A

.000

08/15/42

1,670,264

485,000

California Health Facilities Financing Authority, Revenue Bonds,

Providence Health & Services, Series 2014B

.000

10/01/44

485,122

2,120,000

California Infrastructure and Economic Development Bank,

Lease Revenue Bonds, California State Teachers Retirement

System Headquarters Expansion, Green Bond-Climate Bond

Certified Series 2019

.000

08/01/44

2,192,716

6,005,000

(c) California Infrastructure and Economic Development Bank,

Revenue Bonds, Brightline West Passenger Rail Project, Green

Bond Series 2025A, (AMT), (Mandatory Put 1/01/35)

.500

01/01/65

5,500,233

2,200,000

(c) California Municipal Finance Authority, Charter School Lease

Revenue Bonds, Nova Academy Project, Series 2016A

.000

06/15/36

2,149,488

1,000,000

California Municipal Finance Authority, Revenue Bonds, Biola

University, Refunding Series 2017

.000

10/01/31

1,032,425

14,185,000

California Municipal Finance Authority, Revenue Bonds,

Eisenhower Medical Center, Refunding Series 2017A

.000

07/01/42

14,191,494

1,000,000

California Municipal Finance Authority, Revenue Bonds,

Eisenhower Medical Center, Refunding Series 2017A

.000

07/01/47

996,223

14,000,000

California Municipal Finance Authority, Revenue Bonds, Linxs

APM Project, Senior Lien Series 2018A, (AMT)

.000

12/31/37

14,187,271

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

27,110,000

California Municipal Finance Authority, Revenue Bonds, Linxs

APM Project, Senior Lien Series 2018A, (AMT)

.000

%

12/31/38

$

27,437,082

1,000,000

California Municipal Finance Authority, Revenue Bonds,

NorthBay Healthcare Group, Series 2017A

.000

11/01/30

1,012,535

1,040,000

California Municipal Finance Authority, Revenue Bonds,

NorthBay Healthcare Group, Series 2017A

.250

11/01/31

1,054,480

10,625,000

California Municipal Finance Authority, Reveue Bonds,

Community Medical Centers, Series 2017A

.000

02/01/42

10,674,950

8,835,000

(c) California Pollution Control Financing Authority, Water

Furnishing Revenue Bonds, Poseidon Resources Channelside

LP Desalination Project, Series 2012, (AMT)

.000

07/01/30

8,866,232

14,225,000

(c) California Pollution Control Financing Authority, Water

Furnishing Revenue Bonds, Poseidon Resources Channelside

LP Desalination Project, Series 2012, (AMT)

.000

07/01/37

14,239,036

1,450,000

California Public Finance Authority, Revenue Bonds, Henry

Mayo Newhall Hospital, Series 2017

.000

10/15/37

1,461,128

415,000

(c) California Public Finance Authority, Senior Living Revenue

Bonds, Enso Village, Refunding Green Series 2021A

.000

11/15/46

374,331

810,000

(c) California Public Finance Authority, Senior Living Revenue

Bonds, Enso Village, Refunding Green Series 2021A

.000

11/15/51

711,291

10,335,000

California Public Finance Authority, Senior Living Revenue

Bonds, The James, Senior Series 2024A

.500

06/01/54

9,945,232

3,355,000

California Public Finance Authority, Senior Living Revenue

Bonds, The James, Senior Series 2024A

.375

06/01/59

3,128,109

1,000,000

(c) California School Finance Authority, Charter School Revenue

Bonds, Alliance for College-Ready Public Schools Projects

Series 2024

.000

07/01/49

1,010,616

2,000,000

(c) California School Finance Authority, Charter School Revenue

Bonds, Alliance for College-Ready Public Schools Projects

Series 2024

.000

07/01/59

1,998,785

525,000

(c) California School Finance Authority, School Facility Revenue

Bonds, Granada Hills Charter High School Obligated Group,

Series 2024A

.000

07/01/54

511,441

1,000,000

(c) California School Finance Authority, School Facility Revenue

Bonds, Granada Hills Charter High School Obligated Group,

Series 2024A

.000

07/01/64

954,992

3,195,000

California State, General Obligation Bonds, Various Purpose

Refunding Series 2025

.000

08/01/45

3,448,583

12,000,000

California State, General Obligation Bonds, Various Purpose

Series 2015

.000

08/01/45

12,010,201

2,725,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/39

3,080,069

4,490,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/41

4,978,227

4,490,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/42

4,936,938

4,105,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/43

4,486,176

4,165,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/44

4,507,870

2,500,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/45

2,698,422

5,000,000

California Statewide Communities Development Authority,

Student Housing Revenue Bonds, University of California, Irvine

East Campus Apartments, Phase IV-A CHF-Irvine, LLC, Series

2017

.000

05/15/47

5,020,716

1,750,000

California Statewide Communities Development Authority,

Student Housing Revenue Bonds, University of California, Irvine

East Campus Apartments, Phase IV-A CHF-Irvine, LLC, Series

2017

.000

05/15/50

1,757,761

3,800,000

(c) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Center City Anaheim, Series

2020A

.000

01/01/54

3,415,896

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

1,460,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

%

12/01/41

$

1,610,206

2,500,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/42

2,729,358

1,500,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/43

1,626,104

2,800,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/44

3,017,480

3,800,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/45

4,077,149

23,265,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Subordinate Lien

Series 2018C, (AMT)

.000

05/15/44

23,398,846

1,000,000

Manteca Financing Authority, California, Sewer Revenue

Bonds, Series 2009

.750

12/01/36

1,004,132

735,000

Mount San Antonio Community College District, Los Angeles

County, California, General Obligation Bonds, Election of 2024,

Series 2025A

.000

08/01/42

811,996

800,000

Mount San Antonio Community College District, Los Angeles

County, California, General Obligation Bonds, Election of 2024,

Series 2025A

.000

08/01/43

876,361

800,000

Mount San Antonio Community College District, Los Angeles

County, California, General Obligation Bonds, Election of 2024,

Series 2025A

.000

08/01/44

870,629

1,200,000

Mount San Antonio Community College District, Los Angeles

County, California, General Obligation Bonds, Election of 2024,

Series 2025A

.000

08/01/45

1,301,357

400,000

Mount San Antonio Community College District, Los Angeles

County, California, General Obligation Bonds, Election of 2024,

Series 2025A

.000

08/01/46

431,665

2,800,000

M-S-R Energy Authority, California, Gas Revenue Bonds,

Citigroup Prepay Contracts, Series 2009A

.000

11/01/34

3,399,870

2,500,000

M-S-R Energy Authority, California, Gas Revenue Bonds,

Citigroup Prepay Contracts, Series 2009A

.500

11/01/39

3,066,196

4,460,000

M-S-R Energy Authority, California, Gas Revenue Bonds,

Citigroup Prepay Contracts, Series 2009B

.000

11/01/34

5,415,507

2,230,000

Oakland Unified School District, Alameda County, California,

General Obligation Bonds, Election 2020, Series 2023A - AGM

Insured

.250

08/01/39

2,507,383

5,000,000

Peralta Community College District, Alameda County,

California, General Obligation, Election of 2018 , Series

2025C-1

.000

08/01/50

5,302,948

21,280,000

Peralta Community College District, Alameda County,

California, General Obligation, Election of 2018 , Series

2025C-1

.000

08/01/54

22,492,709

5,500,000

Poway Unified School District, San Diego County, California,

General Obligation Bonds, School Facilities Improvement

District 2007-1, Series 2011A

.000

08/01/41

2,860,597

400,000

(d) Ravenswood City School District, San Diego County, California,

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/39

225,292

750,000

(d) Ravenswood City School District, San Diego County, California,

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/40

397,584

1,000,000

(d) Ravenswood City School District, San Diego County, California,

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/43

438,737

1,000,000

(d) Ravenswood City School District, San Diego County, California,

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/44

413,230

1,250,000

(d) Ravenswood City School District, San Diego County, California,

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/45

487,576

3,400,000

(d) Ravenswood City School District, San Diego County, California,

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/48

1,111,287

3,275,000

(d) Ravenswood City School District, San Diego County, California,

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/50

955,849

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

15,000,000

Rialto Unified School District, San Bernardino County,

California, General Obligation Bonds, 2010 Election Series

2011A - AGM Insured

.350

%

08/01/41

$

18,439,599

2,665,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area

1, Refunding Series 2022A-1 - AGM Insured

.000

09/01/42

2,836,467

3,545,000

Sacramento County, California, Airport System Revenue Bonds,

Refunding Senior Series 2018C, (AMT)

.000

07/01/37

3,637,491

8,960,000

Sacramento County, California, Airport System Revenue Bonds,

Refunding Senior Series 2018C, (AMT)

.000

07/01/38

9,161,499

635,000

Sacramento, California, Special Tax Bonds, Community

Facilities District 05-1 College Square, Series 2007

.900

09/01/37

640,398

8,000,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Subordinate Series 2017A, (AMT)

.000

07/01/42

8,032,923

3,020,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Subordinate Series 2017A, (AMT)

.000

07/01/47

3,020,360

1,200,000

(d) San Diego Public Facilities Financing Authority, California,

Lease Revenue Bonds, Capital Improvement Projects,

Refunding Series 2025A

.000

10/15/40

1,347,942

3,875,000

(d) San Diego Public Facilities Financing Authority, California,

Lease Revenue Bonds, Capital Improvement Projects,

Refunding Series 2025A

.000

10/15/42

4,256,906

7,500,000

(d) San Diego Public Facilities Financing Authority, California,

Lease Revenue Bonds, Capital Improvement Projects,

Refunding Series 2025A

.000

10/15/43

8,181,835

3,000,000

(d) San Diego Public Facilities Financing Authority, California,

Lease Revenue Bonds, Capital Improvement Projects,

Refunding Series 2025A

.000

10/15/44

3,245,872

3,155,000

(d) San Diego Public Facilities Financing Authority, California,

Lease Revenue Bonds, Capital Improvement Projects,

Refunding Series 2025A

.000

10/15/45

3,396,033

11,715,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2016B,

(AMT)

.000

05/01/46

11,715,370

5,050,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2017A,

(AMT)

.000

05/01/42

5,077,419

3,000,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2018D,

(AMT)

.000

05/01/48

3,016,153

5,000,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2016B,

(AMT)

.000

05/01/41

5,010,281

4,260,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/40

4,799,372

2,885,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/41

3,216,435

5,920,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/42

6,545,292

9,180,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/43

10,064,134

2,125,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/44

2,312,609

2,620,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/45

2,839,075

4,500,000

San Francisco City and County, California, Multifamily Housing

Revenue Bonds, Sunnydale Hope SF Block 9, Series 2025B-1

.000

02/01/46

4,634,602

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

4,735,000

San Francisco City and County, California, Multifamily Housing

Revenue Bonds, Sunnydale Hope SF Block 9, Series 2025B-2,

(Mandatory Put 8/01/28)

.350

%

08/01/29

$

4,803,925

4,245,000

San Joaquin Hills Transportation Corridor Agency, Orange

County, California, Toll Road Revenue Bonds, Refunding Junior

Lien Series 2014B

.250

01/15/44

4,246,454

1,000,000

San Ysidro School District, San Diego County, California,

General Obligation Bonds, 2020 Election Measure T, Series

2025C - BAM Insured

.000

08/01/47

1,067,054

3,095,000

San Ysidro School District, San Diego County, California,

General Obligation Bonds, 2020 Election Measure U, Series

2025C - BAM Insured

.000

08/01/47

3,302,532

3,395,000

San Ysidro School District, San Diego County, California,

General Obligation Bonds, 2020 Election Measure U, Series

2025C - BAM Insured

.000

08/01/48

3,611,762

275,000

(c) Temecula Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 16-01, Series 2017

.250

09/01/47

282,214

9,075,000

Templeton Unified School District, San Luis Obispo County,

California, General Obligation Bonds, Election 2024 Series

2025A

.000

08/01/50

9,527,976

5,000,000

Victor Valley Union High School District, San Bernardino

County, California, General Obligation Bonds, 20008 Election

Series 2009A - AGC Insured

.750

08/01/31

5,122,554

2,485,000

Westminster School District, Orange County, California,

General Obligation Bonds, Series 2009-A1 - AGC Insured

.000

08/01/26

2,431,836

1,405,000

Westminster School District, Orange County, California,

General Obligation Bonds, Series 2009-A1 - AGC Insured

.000

08/01/28

1,306,049

2,920,000

Westminster School District, Orange County, California,

General Obligation Bonds, Series 2009-A1 - AGC Insured

.000

08/01/29

2,641,667

TOTAL CALIFORNIA

591,268,374

COLORADO - 4.5%

1,000,000

(c) Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2024

.500

12/01/44

979,412

2,000,000

(c) Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2024

.750

12/01/54

1,976,187

499,000

Aviation Station North Metropolitan District 2, Denver County,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2019A

.000

12/01/29

499,416

2,060,000

Aviation Station North Metropolitan District 2, Denver County,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2019A

.000

12/01/39

2,060,456

1,350,000

Aviation Station North Metropolitan District 2, Denver County,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2019A

.000

12/01/48

1,307,007

575,000

(c) Bella Mesa Metropolitan District, Castle Rock, Colorado,

Limited Tax General Obligation Bonds, Convertible Capital

Appreciation Series 2020A-3

.750

12/01/49

585,153

500,000

Broadway Station Metropolitan District 2, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Series 2019A

.125

12/01/48

398,611

1,000,000

Canyons Metropolitan District 5, Douglas County, Colorado,

Limited Tax General Obligation and Special Revenue Bonds,

Subordinate Refunding Series 2024B - BAM Insured

.500

12/15/54

1,005,597

9,000,000

(c) Centerra Metropolitan District 1, Loveland, Colorado, Special

Revenue Bonds, Refunding & Improvement Series 2017

.000

12/01/47

8,738,103

1,780,000

Colorado Bridge and Tunnel Enterprise, Colorado, Senior

Infrastructure Revenue Bonds, Series 2025A

.250

12/01/50

1,888,700

2,450,000

Colorado Bridge and Tunnel Enterprise, Colorado, Senior

Infrastructure Revenue Bonds, Series 2025A

.250

12/01/54

2,593,270

2,065,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Community Leadership Academy

Project, Series 2008

.500

07/01/38

2,067,205

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

3,040,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Community Leadership Academy, Inc.

Second Campus Project, Series 2013

.350

%

08/01/43

$

3,044,375

6,680,000

(c) Colorado Educational and Cultural Facilities Authority, Cultural

Facilities Revenue Bonds, Stanley Project, Senior Lien Series

2025A-1

.875

02/01/59

6,940,830

1,400,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Christian Living Neighborhoods Project, Refunding Series 2016

.000

01/01/37

1,400,404

25,105,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2019A-1

.000

08/01/44

22,429,625

2,550,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2019B-1

.000

08/01/39

2,489,299

1,315,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2025A

.125

12/01/45

1,337,111

3,265,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2025A

.125

12/01/50

3,280,333

1,385,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2025A

.125

12/01/55

1,386,077

1,750,000

Colorado International Center Metropolitan District 14, Denver,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2018

.875

12/01/46

1,731,620

1,000,000

Copper Ridge Metropolitan District, Colorado Springs,

Colorado, Tax Increment and Sales Tax Supported Revenue

Bonds, Series 2019

.000

12/01/39

986,421

1,000,000

Crowfoot Valley Ranch Metropolitan District No. 2, Douglas

County, Colorado, Limited Tax General Obligation Bonds,

Refunding Subordinate Series 2024B

.125

12/15/54

964,350

8,125,000

Dawson Trails Metropolitan District 1, Colorado, In The

Town of Castle Rock, Limited Tax General Obligation Capital

Appreciation Turbo Bonds, Series 2024

.000

12/01/31

5,129,478

2,955,000

Denver Convention Center Hotel Authority, Colorado, Revenue

Bonds, Convention Center Hotel, Refunding Senior Lien Series

2016

.000

12/01/28

3,007,635

5,005,000

Denver Convention Center Hotel Authority, Colorado, Revenue

Bonds, Convention Center Hotel, Refunding Senior Lien Series

2016

.000

12/01/33

5,067,774

20,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2000B - NPFG Insured

.000

09/01/29

18,026

395,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2000B - NPFG Insured

.000

09/01/30

345,481

20,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2000B - NPFG Insured

.000

09/01/32

16,239

25,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2000B - NPFG Insured

.000

09/01/33

19,455

9,890,000

E-470 Public Highway Authority, Colorado, Toll Revenue Bonds,

Series 2004A - NPFG Insured

.000

09/01/27

9,416,433

1,365,000

Foothills Metropolitan District, Fort Collins, Colorado, Special

Revenue Bonds, Series 2014

.000

12/01/38

1,315,805

845,000

Green Valley Ranch East Metropolitan District 6, Adams

County, Colorado, Limited Tax General Obligation Bonds,

Series 2020A-3

.875

12/01/50

853,998

2,900,000

(c) Hess Ranch Metropolitan District 5, Parker, Colorado, Special

Assessment Revenue Bonds, Special Improvement District 2,

Series 2024

.500

12/01/44

2,897,413

2,000,000

Hess Ranch Metropolitan District 6, Parker, Colorado, Limited

Tax General Obligation Bonds, Series 2020A-1

.000

12/01/49

1,899,348

1,000,000

Independence Metropolitan District 3, Elbert County,

Colorado, Limited Tax General Obligation Bonds, Special

Revenue Refunding and Improvement Series 2024A

.375

12/01/54

984,034

1,735,000

Jefferson Center Metropolitan District 1, Arvada, Jefferson

County, Colorado, Special Revenue Bonds, Subordinate Series

2020B

.750

12/15/50

1,738,561

20,250,000

(e) Painted Prairie Public Improvement Authority, Aurora,

Colorado, Special Revenue Bonds, Series 2019

.000

12/01/39

18,092,855

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

620,000

Park Creek Metropolitan District, Colorado, Senior Limited

Property Tax Supported Revenue Bonds, Refunding Series

2015A

.000

%

12/01/45

$

619,579

4,250,000

(c) Prairie Center Metopolitan District No. 3, In the City of

Brighton, Adams County, Colorado, Limited Property Tax

Supported Primary Improvements Revenue Bonds, Refunding

Series 2017A

.000

12/15/41

4,249,589

1,125,000

Prairie Center Metropolitan District No. 3, Brighton, Colorado,

Special Revenue Bonds, Park and Recreation Improvements

Series 2018

.125

12/15/42

1,076,158

500,000

Prairie Center Metropolitan District No. 3, In the City of

Brighton, Adams County, Colorado, Limited Property Tax

Supported District Improvements Revenue Bonds, Refunding

Series 2024B

.875

12/15/46

521,810

2,468,000

Prairie Farm Metropolitan District, In the City of Commerce

City, Adams County, Colorado, Limited Tax Convertible to

Unlimited Tax, General Obligation Bonds, Series 2018A

.250

12/01/48

2,422,913

1,810,000

Public Authority for Colorado Energy, Natural Gas Purchase

Revenue Bonds, Colorado Springs Utilities, Series 2008

.250

11/15/28

1,894,294

3,080,000

Public Authority for Colorado Energy, Natural Gas Purchase

Revenue Bonds, Colorado Springs Utilities, Series 2008

.500

11/15/38

3,725,569

2,410,000

(c) Pueblo Urban Renewal Authority, Colorado, Tax Increment

Revenue Bonds, EVRAZ Project, Series 2021A

.750

12/01/45

2,254,438

3,555,000

(c) Reagan Ranch Metropolitan District 1, Colorado Springs,

Colorado, General Obligation Bonds, Limited Tax & Special

Revenue, Series 2025

.125

12/01/54

3,474,471

2,600,000

Redtail Ridge Metropolitan District, City of Louisville, Boulder

County, Colorado, General Obligation Limited Tax Capital

Appreciation Turbo Bonds, Series 2025

.000

12/01/32

1,601,445

3,450,000

(c) Ridge at Johnstown Metropolitan District 8, Larimer County,

Colorado, Special Assessment Revenue Bonds, Special

Improvement District 1, Series 2024

.875

12/01/44

3,230,705

500,000

(c) Settler's Crossing Metropolitan District 1, Lakewood, Colorado,

Limited Tax General Obligation Bonds, Series 2020A

.000

12/01/40

490,350

1,000,000

(c),(f)

St. Vrain Lakes Metropolitan District 4, Weld County, Colorado,

General Obligation Bonds, Firestone Convertible Capital

Appreciation Limited Tax Series 2024A

.000

09/20/54

692,444

1,500,000

(c) STC Metropolitan District 2, Superior, Boulder County,

Colorado, Limited Tax General Obligation and Special Revenue

Bonds, Refunding Second Lien Series 2025A-2

.250

12/01/55

1,525,083

3,611,000

Vauxmont Metropolitan District, Arvada, Colorado, Limited Tax

General Obligation and Special Revenue Bonds, Convertible

to Unlimited Tax Refunding Subordinate Series 2019 - AGM

Insured

.250

12/15/50

2,784,086

500,000

Velocity Metropolitan District 3, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Series 2019

.125

12/01/34

495,760

2,000,000

Velocity Metropolitan District 3, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Series 2019

.375

12/01/39

1,949,477

5,000,000

Velocity Metropolitan District 3, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Series 2019

.500

12/01/48

4,701,651

7,740,000

(c) West Globeville Metropolitan District 1, Denver, Colorado,

General Obligation Limited Tax Bonds, Series 2024A-2

.000

12/01/54

4,959,263

2,200,000

(c) West Globeville Metropolitan District 1, Denver, Colorado,

Special Assessment Revenue Bonds, Special Improvement

District 1, Series 2024

.750

12/01/44

2,138,405

3,000,000

(c) Windler Public Improvement Authority, Aurora, Colorado,

Limited Tax Supported Revenue Bonds, Series 2021A-1

.125

12/01/51

2,293,534

TOTAL COLORADO

167,993,121

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CONNECTICUT - 0.5%

$

2,500,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

%

07/01/36

$

2,511,652

5,630,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

07/01/38

5,555,471

5,000,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Trinity Health Credit Group, Series 2016CT

.000

12/01/41

5,033,511

2,500,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2020A - BAM

Insured

.000

05/01/36

2,557,411

2,550,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2020A - BAM

Insured

.000

05/01/39

2,577,123

TOTAL CONNECTICUT

18,235,168

DELAWARE - 0.3%

8,500,000

Delaware Health Facilities Authroity, Revenue Bonds, Beebe

Medical Center Project, Series 2018

.000

06/01/43

8,260,926

1,000,000

(g) Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024B, (UB)

.600

07/01/44

1,009,288

1,340,000

(g) Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024B, (UB)

.650

07/01/49

1,327,063

TOTAL DELAWARE

10,597,277

DISTRICT OF COLUMBIA - 0.6%

7,180,000

District of Columbia, Washington, D.C., Revenue Bonds, Latin

American Montessori Bilingual Public Charter School, Series

2020

.000

06/01/50

6,483,684

1,500,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Refunding & Subordinate Lien Series

2019B

.000

10/01/37

1,500,023

2,890,000

(g) Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Refunding & Subordinate Lien Series

2019B, (UB)

.000

10/01/53

2,463,618

3,745,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Second Senior Lien Series 2009B - AGC

Insured

.000

10/01/31

3,109,937

8,570,000

Washington Metropolitan Area Transit Authority, Dedicated

Revenue Bonds, Second Lien Green Series 2023A

.250

07/15/53

8,953,033

TOTAL DISTRICT OF COLUMBIA

22,510,295

FLORIDA - 7.1%

1,885,000

Atlantic Beach, Florida, Healthcare Facilities Revenue

Refunding Bonds, Fleet Landing Project, Series 2013A

.000

11/15/28

1,887,033

345,000

Boynton Village Community Development District, Florida,

Special Assessment Bonds, Series 2007-A1

.750

05/01/37

345,285

8,605,000

Broward County, Florida, Port Facilities Revenue Bonds, Series

2019A

.000

09/01/44

8,778,741

3,520,000

Broward County, Florida, Port Facilities Revenue Bonds, Series

2019B, (AMT)

.000

09/01/38

3,400,027

245,000

(c) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/40

231,723

7,910,000

(c) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/50

6,930,916

3,470,000

(c) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/55

2,986,928

1,500,000

Capital Trust Agency, Florida, Multifamily Housing Revenue

Bonds, The Gardens Apartments Project, Series 2015A

.750

07/01/40

1,051,580

1,380,000

Capital Trust Agency, Florida, Multifamily Housing Revenue

Bonds, The Gardens Apartments Project, Series 2015A

.000

07/01/50

910,644

565,000

(c) Capital Trust Agency, Florida, Revenue Bonds, Renaissance

Charter School Project, Series 2019A

.000

06/15/39

539,533

610,000

(c) Capital Trust Agency, Florida, Revenue Bonds, Renaissance

Charter School Project, Series 2019A

.000

06/15/49

543,078

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,290,000

(c) Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, Babcock Neighborhood School Inc Project, Series 2024

.125

%

08/15/39

$

2,179,525

1,100,000

(c) Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, Babcock Neighborhood School Inc Project, Series 2024

.000

08/15/63

1,006,571

7,000,000

Central Florida Expressway Authority, Revenue Bonds, Senior

Lien Series 2019B

.000

07/01/49

7,091,913

300,000

Cityplace Community Development District, Florida, Special

Assessement and Revenue Bonds, Refunding Series 2012

.000

05/01/26

302,816

1,255,000

Edgewater West Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Series 2024

.250

05/01/44

1,213,800

1,500,000

(c) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School, Inc.

Projects, Series 2014A

.125

06/15/44

1,500,205

315,000

(c) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School, Inc.

Projects, Series 2020C

.000

09/15/50

270,216

20,050,000

(c) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT), (Mandatory Put

7/15/28)

.000

07/15/32

12,506,187

6,100,000

(g) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT),

(UB)

.000

07/01/44

6,005,263

8,230,000

(g) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT),

(UB)

.250

07/01/53

8,049,415

25,125,000

(c) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Series

2025B, (AMT), (Mandatory Put 6/15/26)

.000

07/01/57

21,405,852

1,270,000

(c) Florida Development Finance Corporation, Student Housing

Revenue Bonds, SPP - Tampa I - LLC The Henry Project, Series

2024A-1

.000

06/01/44

1,224,866

12,020,000

Halifax Hospital Medical Center, Daytona Beach, Florida,

Hospital Revenue Bonds, Series 2024

.250

06/01/54

12,339,231

26,155,000

Hillsborough County Industrial Development Authority, Florida,

Hospital Revenue Bonds, Florida Health Sciences Center Inc

D/B/A Tampa General Hospital, Series 2020A

.000

08/01/50

22,795,584

1,040,000

Jacksonville, Florida, Health Care Facilities Revenue Bonds,

Brooks Rehabilitation, Series 2020

.000

11/01/37

1,013,561

1,085,000

Jacksonville, Florida, Health Care Facilities Revenue Bonds,

Brooks Rehabilitation, Series 2020

.000

11/01/38

1,042,478

1,650,000

Jacksonville, Florida, Health Care Facilities Revenue Bonds,

Brooks Rehabilitation, Series 2020

.000

11/01/39

1,567,486

2,170,000

Jacksonville, Florida, Health Care Facilities Revenue Bonds,

Brooks Rehabilitation, Series 2020

.000

11/01/40

2,034,466

250,000

Lee County Industrial Development Authority, Florida, Charter

School Revenue Bonds, Lee County Community Charter

Schools, Series 2007A

.250

06/15/27

250,142

785,000

(c) Lee County Industrial Development Authority, Florida, Charter

School Revenue Bonds, Lee County Community Charter

Schools, Series 2012A

.500

06/15/32

785,548

1,375,000

(c) Lee County Industrial Development Authority, Florida, Charter

School Revenue Bonds, Lee County Community Charter

Schools, Series 2012A

.750

06/15/42

1,366,347

2,375,000

Miami Beach Redevelopment Agency, Florida, Tax Increment

Revenue Bonds, City Center/Historic Convention Village,

Refunding Series 2025

.000

02/01/42

2,496,392

5,025,000

Miami Beach Redevelopment Agency, Florida, Tax Increment

Revenue Bonds, City Center/Historic Convention Village,

Refunding Series 2025

.000

02/01/43

5,227,865

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,205,000

Miami Beach Redevelopment Agency, Florida, Tax Increment

Revenue Bonds, City Center/Historic Convention Village,

Refunding Series 2025

.000

%

02/01/44

$

2,286,559

6,275,000

Miami, Florida, Limited Ad Valorem Tax Bonds, Forever

Infrastructure Programs Series 2024A

.500

01/01/49

6,819,954

12,195,000

Miami-Dade County, Florida, Aviation Revenue Bonds,

Refunding Series 2015A - BAM Insured, (AMT)

.000

10/01/38

12,209,688

5,025,000

Miami-Dade County, Florida, Seaport Revenue Bonds,

Refunding Series 2022A, (AMT)

.250

10/01/52

5,091,888

2,870,000

Miami-Dade County, Florida, Special Obligation Bonds,

Subordinate Series 2009 - BAM Insured

.000

10/01/37

1,818,348

10,000,000

Miami-Dade County, Florida, Transit System Sales Surtax

Revenue Bonds, Series 2022

.000

07/01/45

10,334,272

345,000

(c) Mirada Community Development District, Florida, Capital

Improvement Bonds, Assessment Area 3 Series 2024

.750

05/01/31

350,960

255,000

(c) Mirada Community Development District, Florida, Capital

Improvement Bonds, Assessment Area 3 Series 2024

.625

05/01/44

253,835

595,000

(c) Mirada Community Development District, Florida, Capital

Improvement Bonds, Assessment Area 3 Series 2024

.000

05/01/55

597,772

1,950,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/41

2,103,244

2,400,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/42

2,563,041

2,460,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/43

2,609,057

1,935,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/44

2,040,401

3,000,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/45

3,152,283

5,095,000

Putnam County Development Authority, Florida, Pollution

Control Revenue Bonds, Seminole Electric Cooperatice, Inc.

Project, Refunding Series 2018B

.000

03/15/42

5,167,496

5,000,000

Sarasota County Public Hospital District, Florida, Hospital

Revenue Bonds, Sarasota Memorial Hospital Project, Series

2018

.000

07/01/41

5,072,844

1,685,000

School Board of Lee County, Florida, Certificates of

Participation, Series 2023A

.000

08/01/38

1,829,630

4,500,000

Seminole County Industrial Development Authority, Florida,

Retirement Facility Revenue Bonds, Legacy Pointe At UCF

Project, Series 2019A

.250

11/15/39

4,364,368

1,015,000

Seminole County Industrial Development Authority, Florida,

Retirement Facility Revenue Bonds, Legacy Pointe At UCF

Project, Series 2019A

.500

11/15/49

919,255

2,610,000

South Broward Hospital District, Florida, Hospital Revenue

Bonds, South Broward Hospital District Obligated Group,

Refunding Series 2016A

.000

05/01/44

2,425,884

4,525,000

South Miami Health Facilities Authority, Florida, Hospital

Revenue Bonds, Baptist Health Systems of South Florida

Obligated Group, Refunding Series 2017

.000

08/15/42

4,126,724

18,525,000

South Miami Health Facilities Authority, Florida, Hospital

Revenue Bonds, Baptist Health Systems of South Florida

Obligated Group, Refunding Series 2017

.000

08/15/42

18,734,699

2,965,000

South Miami Health Facilities Authority, Florida, Hospital

Revenue Bonds, Baptist Health Systems of South Florida

Obligated Group, Refunding Series 2017 - BAM Insured

.000

08/15/42

3,012,900

2,030,000

Southeast Overtown/Park West Community Redevelopment

Agency, Florida, Tax Increment Revenue Bonds, Series 2025A

.000

03/01/37

2,215,820

1,200,000

Southeast Overtown/Park West Community Redevelopment

Agency, Florida, Tax Increment Revenue Bonds, Series 2025A

.000

03/01/39

1,290,140

2,215,000

Southeast Overtown/Park West Community Redevelopment

Agency, Florida, Tax Increment Revenue Bonds, Series 2025A

.000

03/01/40

2,360,668

1,000,000

Southeast Overtown/Park West Community Redevelopment

Agency, Florida, Tax Increment Revenue Bonds, Series 2025A

.250

03/01/41

1,079,187

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,250,000

Southeast Overtown/Park West Community Redevelopment

Agency, Florida, Tax Increment Revenue Bonds, Series 2025A

.250

%

03/01/42

$

2,409,011

2,640,000

(c) Tolomato Community Development District, Florida, Special

Assessment Bonds, Refunding Series 2022A - AGM Insured

.000

05/01/40

2,517,676

13,000,000

Volusia County Educational Facilities Authority, Florida,

Revenue Bonds, Stetson University Inc. Project, Series 2015

.000

06/01/40

13,000,239

TOTAL FLORIDA

264,039,060

GEORGIA - 1.3%

3,785,000

Atlanta Development Authority, Georgia, Economic

Development Certificates, Gulch Enterprise Zone Project,

Convertible Capital Appreciation Series 2024A-1 Class A

.500

12/15/48

3,324,699

1,650,000

(c) Atlanta Development Authority, Georgia, Revenue Bonds,

Westside Gulch Area Project, Senior Series 2024A-2

.500

04/01/39

1,676,440

2,500,000

(e) Atlanta Development Authority, Georgia, Senior Health Care

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.750

01/01/35

1,425,000

1,000,000

(e) Atlanta Development Authority, Georgia, Senior Health Care

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.000

01/01/40

570,000

8,335,000

Fayette County Development Authority, Georgia, Revenue

Bonds, United States Soccer Federation, Inc. Project Series

2024

.250

10/01/49

8,601,219

5,500,000

Griffin-Spalding County Hospital Authority, Georgia, Revenue

Anticipation Certificates, Wellstar Health System Inc., Series

2017A

.000

04/01/42

5,142,524

1,000,000

Main Street Natural Gas Inc., Georgia, Gas Project Revenue

Bonds, Series 2007A

.500

09/15/28

1,064,253

17,600,000

(c) Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022C, (Mandatory Put 11/01/27)

.000

08/01/52

17,710,773

4,500,000

Savannah Hospital Authority, Georgia, Revenue Bonds, Saint

Joseph's/Candler Health System, Inc., Anticipation Certificate

Series 2019A

.000

07/01/39

4,328,743

615,000

Savannah-Georgia Convention Center Authority, Convention

Center Hotel First Tier Revenue Bonds, Series 2025A

.250

06/01/40

646,971

2,735,000

(c) Savannah-Georgia Convention Center Authority, Convention

Center Hotel Second Tier Revenue Bonds, Series 2025B

.000

06/01/50

2,686,666

1,000,000

(c) Savannah-Georgia Convention Center Authority, Convention

Center Hotel Second Tier Revenue Bonds, Series 2025B

.250

06/01/61

1,001,813

TOTAL GEORGIA

48,179,101

GUAM - 0.1%

1,250,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.250

01/01/37

1,365,660

1,000,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.250

01/01/39

1,075,341

750,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.250

01/01/40

800,387

1,055,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Series 2025A

.250

07/01/41

1,121,628

1,000,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Series 2025A

.500

07/01/45

1,060,065

TOTAL GUAM

5,423,081

HAWAII - 0.0%

1,400,000

(c) Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaii Pacific University Project, Refunding

Series 2024

.000

07/01/34

1,419,822

TOTAL HAWAII

1,419,822

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

IDAHO - 0.4%

$

425,000

(c) Eagle Avimor Community Infrastructure District 1, Ada, Boise,

and Gem Counties, Idaho, Special Assessment Revenue Bonds,

Assessment Area 5 Series 2024

.875

%

09/01/53

$

433,472

1,000,000

(c) Eagle Avimor Community Infrastructure District 1, Ada, Boise,

and Gem Counties, Idaho, Special Assessment Revenue Bonds,

Assessment Area 6 Series 2024B

.500

09/01/53

1,000,846

1,485,000

(c) Idaho Falls Auditorium District, Idaho, Certifications of

Participation, Annual Appropriation Series 2021

.250

05/15/51

1,396,837

4,200,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2018A

.000

03/01/36

4,338,522

1,290,000

Idaho Housing and Finance Association, Grant and Revenue

Anticipation Bonds, Federal Highway Trust Funds, Series 2021A

.000

07/15/38

1,292,740

2,000,000

(c) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Idaho Arts Charter School, Inc. Project,

Refunding Series 2016A

.000

12/01/38

1,996,715

2,500,000

(c) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, The College of Idaho Project, Series 2023

.625

11/01/43

2,517,525

2,610,000

(g) Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, Series 2024A, (UB)

.650

01/01/54

2,595,406

TOTAL IDAHO

15,572,063

ILLINOIS - 9.0%

67,800,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2016

.000

04/01/46

68,739,488

2,125,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.250

04/01/35

2,307,324

1,250,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.250

04/01/37

1,332,169

1,600,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.000

04/01/38

1,665,503

1,000,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.250

04/01/39

1,050,104

1,960,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.500

04/01/42

2,044,302

625,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues Series 2012A

.000

12/01/42

590,235

1,215,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Project Series 2015C

.250

12/01/39

1,208,265

10,000,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Series 2023A

.000

12/01/34

10,220,156

1,250,000

Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2020A

.000

12/01/45

1,273,675

2,220,000

Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2020A

.000

12/01/50

1,974,052

8,805,000

(g) Chicago, Illinois, General Obligation Bonds, Project &

Refunding Series 2017A, (UB)

.000

01/01/38

8,977,374

705,000

Chicago, Illinois, General Obligation Bonds, Refunding Series

2016C

.000

01/01/35

705,887

2,175,000

(g) Chicago, Illinois, General Obligation Bonds, Refunding Series

2016C, (UB)

.000

01/01/38

2,175,007

6,000,000

(g) Chicago, Illinois, General Obligation Bonds, Refunding Series

2020A, (UB)

.000

01/01/30

6,325,996

5,000,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/31

5,463,349

1,700,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/32

1,872,822

1,600,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/33

1,772,181

450,000

Chicago, Illinois, Water Revenue Bonds, Refunding Second

Lien Series 2023B - AGM Insured

.000

11/01/37

482,770

5,000,000

Illinois Finance Authority Revenue Bonds, OSF Healthcare

System, Series 2018A - BAM Insured

.125

05/15/47

4,742,162

1,450,000

(h) Illinois Finance Authority, Revenue Bonds, Ascension Health

Alliance, Series 2016C, (Pre-refunded 2/15/27)

.000

02/15/41

1,480,631

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

5,000

Illinois Finance Authority, Revenue Bonds, Ascension Health

Alliance, Series 2016C

.000

%

02/15/41

$

4,772

700,000

Illinois Finance Authority, Revenue Bonds, Dominican

University, Refunding Series 2022

.000

03/01/42

656,847

220,000

(c) Illinois Finance Authority, Revenue Bonds, Goodman Theatre

Project, Refunding Series 2025A

.125

10/01/35

225,276

855,000

(c) Illinois Finance Authority, Revenue Bonds, Goodman Theatre

Project, Refunding Series 2025A

.000

10/01/45

865,412

760,000

(c) Illinois Finance Authority, Revenue Bonds, Goodman Theatre

Project, Refunding Series 2025A

.125

10/01/50

769,727

10,810,000

Illinois Finance Authority, Revenue Bonds, Mercy Health

Corporation, Series 2016

.000

12/01/40

10,854,946

12,295,000

Illinois Finance Authority, Revenue Bonds, Northshore -

Edward-Elmhurst Health Credit Group, Series 2022A

.000

08/15/47

12,535,532

10,715,000

Illinois Finance Authority, Revenue Bonds, OSF Healthcare

System, Series 2015A

.000

11/15/45

10,717,057

20,000

Illinois Finance Authority, Revenue Bonds, Rush University

Medical Center Obligated Group, Series 2015A

.000

11/15/39

18,967

1,965,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

and Medical Centers, Refunding Series 2025A

.000

08/15/40

2,101,602

1,720,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

and Medical Centers, Refunding Series 2025A

.000

08/15/41

1,815,375

14,715,000

Illinois Finance Authority, Revenue Bonds, The University of

Chicago Medical Center, Series 2016B

.000

08/15/41

13,794,356

450,000

Illinois Finance Authority, Revenue Bonds, University of

Chicago, Series 2024A

.250

04/01/49

471,790

7,335,000

Illinois Sports Facility Authority, State Tax Supported Bonds,

Refunding Series 2014 - AGM Insured

.250

06/15/31

7,349,807

10,105,000

Illinois State, General Obligation Bonds, December Series

2023C

.000

12/01/47

10,252,939

4,725,000

Illinois State, General Obligation Bonds, December Series

2023C

.000

12/01/48

4,785,489

3,725,000

Illinois State, General Obligation Bonds, June Series 2016

.000

06/01/36

3,710,188

10,000,000

Illinois State, General Obligation Bonds, May Series 2020

.750

05/01/45

10,487,996

4,000,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/43

4,211,328

2,000,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/44

2,094,109

1,575,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/45

1,641,520

1,600,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/47

1,654,838

2,760,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/49

2,839,064

11,625,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/27

12,161,325

3,000,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/28

3,135,729

2,000,000

Illinois State, General Obligation Bonds, Refunding September

Series 2018A

.000

10/01/28

2,132,626

27,690,000

Illinois State, General Obligation Bonds, September Series

2025D

.000

09/01/37

30,081,231

6,570,000

Illinois State, General Obligation Bonds, September Series

2025D

.000

09/01/39

7,009,061

14,185,000

Illinois State, General Obligation Bonds, September Series

2025F

.250

09/01/46

14,715,499

7,000,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Refunding Series 2020A

.000

06/15/50

6,912,067

1,500,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Refunding Series 2022A

.000

12/15/42

1,379,006

1,225,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2015A

.000

06/15/53

1,200,976

10,000,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

AGM Insured

.000

12/15/35

6,781,926

23,065,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

NPFG Insured

.000

06/15/37

14,193,839

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

1,838,000

Plano, Illinois, Special Tax Bonds, Special Service Area 1 &

2 Lakewood Springs Project, Refunding Series 2014 - AGM

Insured

.000

%

03/01/34

$

1,839,945

3,045,000

Regional Transportation Authority, Cook, DuPage, Kane, Lake,

McHenry and Will Counties, Illinois, General Obligation Bonds,

Series 2001A - FGIC Insured

.000

07/01/27

3,165,679

TOTAL ILLINOIS

334,971,298

INDIANA - 1.9%

2,000,000

(c) Gary Local Public Improvement Bond Bank, Indiana, Economic

Development Revenue Bonds, Drexel Foundation for

Educational Excellence Project, Refunding Series 2020A

.875

06/01/55

1,772,088

3,150,000

IIndiana Finance Authority, Hospital Revenue Bonds, Parkview

Health, Series 2018A

.000

11/01/43

3,198,959

825,000

(c) Indiana Finance Authority, Educational Facilities Revenue

Bonds, Circle City Preparatory Inc. Project, Series 2021A

.000

12/01/40

758,587

5,000,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, Rose Hulman Institute Of Technology Project, Series

2018

.000

06/01/44

4,649,471

1,640,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, Valparaiso University Project, Series 2014

.000

10/01/39

1,540,134

2,790,000

(c) Indiana Finance Authority, Educational Facilities Revenue

Bonds, Victory College Prep Project, Series 2021A

.500

12/01/55

2,163,766

800,000

Indiana Finance Authority, Revenue Bonds, First Lien Thermal

Energy System Utility, Citizens Energy Group Project, Series

2025A

.000

10/01/32

900,625

780,000

Indiana Finance Authority, Revenue Bonds, First Lien Thermal

Energy System Utility, Citizens Energy Group Project, Series

2025A

.000

10/01/33

881,717

800,000

Indiana Finance Authority, Revenue Bonds, First Lien Thermal

Energy System Utility, Citizens Energy Group Project, Series

2025A

.000

10/01/34

906,276

4,200,000

Indiana Finance Authority, Revenue Bonds, First Lien Thermal

Energy System Utility, Citizens Energy Group Project, Series

2025A

.500

10/01/55

4,485,254

10,325,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, First Lien Green Series 2016A

.000

10/01/41

10,440,746

4,880,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, First Lien Green Series 2016A

.000

10/01/46

4,898,084

3,385,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.750

03/01/43

3,532,299

8,495,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.000

03/01/53

8,814,930

1,815,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.125

03/01/57

1,895,204

3,080,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Subordinate Series

2023F-1 - BAM Insured

.000

03/01/53

3,148,225

3,225,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Subordinate Series

2023F-1 - BAM Insured

.000

03/01/58

3,286,229

3,000,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Subordinate Series

2023F-1 - BAM Insured

.250

03/01/67

3,097,781

8,435,000

Whiting, Indiana, Environmental Facilities Revenue Bonds,

BP Products North America Inc. Project, Series 2015, (AMT),

(Mandatory Put 6/10/31)

.400

11/01/45

8,998,833

TOTAL INDIANA

69,369,208

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

IOWA - 1.0%

$

2,000,000

Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Alcoa Inc. Project, Series 2012

.750

%

08/01/42

$

1,980,347

25,575,000

(h) Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

Series 2022, (Pre-refunded 12/01/32), (Mandatory Put

12/01/42)

.000

12/01/50

29,462,254

200,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.000

05/15/39

203,620

245,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.000

05/15/44

236,129

1,500,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.000

05/15/49

1,410,919

2,600,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.125

05/15/59

2,434,854

TOTAL IOWA

35,728,123

KANSAS - 0.1%

1,500,000

Hutchinson, Kansas, Hospital Facilities Revenue Bonds,

Hutchinson Regional Medical Center, Inc., Series 2016

.000

12/01/36

1,428,383

1,320,000

Hutchinson, Kansas, Hospital Facilities Revenue Bonds,

Hutchinson Regional Medical Center, Inc., Series 2016

.000

12/01/41

1,168,034

1,250,000

Wichita, Kansas, Health Care Facilities Revenue Bonds,

Presbyterian Manors, Series 2024VIII

.750

05/15/45

1,196,462

TOTAL KANSAS

3,792,879

KENTUCKY - 1.2%

6,675,000

Carroll County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project, Refunding Series

2006B, (AMT)

.125

10/01/34

5,517,560

2,545,000

Kentucky Bond Development Corporation, Transient Room Tax

Revenue Bonds, Lexington Center Corporation Project, Series

2018A

.000

09/01/43

2,584,353

2,600,000

Kentucky Bond Development Corporation, Transient Room Tax

Revenue Bonds, Lexington Center Corporation Project, Series

2018A

.000

09/01/48

2,613,035

6,565,000

Kentucky Economic Development Finance Authority, Louisville

Arena Project Revenue Bonds, Louisville Arena Authority, Inc.,

Series 2017A - AGM Insured

.000

12/01/45

6,617,274

8,500,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, CommonSpirit Health, Series 2019A-2

.000

08/01/44

8,577,897

1,880,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, Next Generation Kentucky Information Highway Project,

Senior Series 2015A

.000

07/01/26

1,882,163

2,100,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, Next Generation Kentucky Information Highway Project,

Senior Series 2015A

.000

07/01/33

2,102,022

5,655,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, Next Generation Kentucky Information Highway Project,

Senior Series 2015A

.000

07/01/37

5,658,269

3,885,000

Louisville/Jefferson County Metro Government, Kentucky,

Health System Revenue Bonds, Norton Healthcare Inc, Series

2016A

.000

10/01/30

3,960,402

1,850,000

Louisville/Jefferson County Metro Government, Kentucky,

Health System Revenue Bonds, Norton Healthcare Inc, Series

2016A

.000

10/01/31

1,883,412

5,415,000

Louisville/Jefferson County Metro Government, Kentucky,

Health System Revenue Bonds, Norton Healthcare, Inc., Series

2020A - BAM Insured

.000

10/01/43

4,387,808

TOTAL KENTUCKY

45,784,195

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA - 0.7%

$

1,600,000

(c) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Lake Charles Charter Academy Foundation Project, Refunding

Series 2024A

.000

%

12/15/34

$

1,630,543

1,350,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.500

09/01/54

1,368,631

3,700,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.500

09/01/59

3,735,299

10,315,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.750

09/01/64

10,594,267

7,010,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.000

09/01/66

6,667,100

1,100,000

(c) Plaquemines Port, Louisiana, Harbor and Terminal District

Facilities Revenue Bonds NOLA Terminal LLC Project Dock and

Wharf Series 2024A

.000

12/01/44

944,168

500,000

(c) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2010

.350

07/01/40

543,151

1,650,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017A-3,

(Mandatory Put 7/01/26)

.200

06/01/37

1,642,039

TOTAL LOUISIANA

27,125,198

MAINE - 0.3%

725,000

(c) Maine Finance Authority, Solid Waste Disposal Revenue

Bonds, Casella Waste Systems, Inc. Project, Series 2024, (AMT),

(Mandatory Put 6/01/35)

.625

12/01/47

714,541

4,690,000

Maine Health and Higher Educational Facilities Authority

Revenue Bonds, Eastern Maine Medical Center Obligated

Group Issue, Series 2016A

.000

07/01/46

4,321,507

4,970,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, MaineHealth Issue, Series 2020A

.000

07/01/45

4,539,847

1,420,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2021C

.300

11/15/46

970,749

TOTAL MAINE

10,546,644

MARYLAND - 1.0%

10,000,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/39

10,004,097

665,000

(c) Frederick County, Maryland, Tax Increment and Special Tax

Limited Obligation Bonds, Jefferson Technology Park Project,

Refunding Series 2020B

.625

07/01/43

631,231

1,000,000

(c) Maryland Economic Development Corporation, Port Facilities

Revenue Bonds, Core Natural Resources Inc. Project, Refunding

Series 2025, (Mandatory Put 3/27/35)

.000

07/01/48

1,033,054

17,255,000

Maryland Health and HIgher Educational Facilities

Authority, Revenue Bonds, University of Maryland Medical

Systems, Series 2025A

.250

07/01/52

18,000,535

8,500,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, MedStar Health Issue, Series 2015

.000

08/15/42

8,501,777

TOTAL MARYLAND

38,170,694

MASSACHUSETTS - 1.9%

2,500,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/43

2,688,441

1,880,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/44

2,010,178

2,730,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/45

2,908,886

3,613,640

(c),(e)

Massachusetts Development Finance Agency, Health Care

Facility Revenue Bonds, Adventcare Project, Series 2007A

.750

10/15/37

1,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Green Bonds, Series 2015D

.000

07/01/44

971,568

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MASSACHUSETTS

(continued)

$

1,200,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2016E

.000

%

07/01/35

$

1,209,603

5,590,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2016E

.000

07/01/37

5,619,584

3,500,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2023G

.250

07/01/48

3,497,727

1,500,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2023G

.250

07/01/52

1,495,146

4,425,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center, Green Series 2017F

.000

07/01/47

3,821,869

5,285,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/37

5,470,964

5,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/38

5,160,046

5,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/43

5,085,149

1,500,000

Massachusetts Development Finance Agency, Revenue Bonds,

Emmanuel College, Series 2016A

.000

10/01/43

1,404,326

16,140,000

Massachusetts Development Finance Agency, Revenue Bonds,

UMass Memorial Issue Series 2025N-1

.250

07/01/50

16,323,639

4,785,000

Massachusetts Development Finance Agency, Revenue Bonds,

Wellforce Issue, Series 2019A

.000

07/01/39

4,804,821

2,250,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/36

2,632,285

2,000,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/37

2,335,177

2,500,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/38

2,911,527

TOTAL MASSACHUSETTS

70,350,972

MICHIGAN - 1.8%

3,585,000

Detroit Downtown Development Authority, Michigan, Tax

Increment Revenue Bonds, Catalyst Development Project,

Refunding Series 2024

.000

07/01/48

3,709,479

1,345,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Second Lien Series 2025C

.500

07/01/50

1,454,562

3,360,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Second Lien Series 2025C

.500

07/01/55

3,619,406

12,240,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Senior Lien Series 2018A

.000

07/01/48

12,437,649

3,250,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Senior Lien Series 2023C

.250

07/01/53

3,416,154

2,285,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Second Lien Series 2025D

.500

07/01/50

2,454,967

2,270,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Second Lien Series 2025D

.500

07/01/55

2,432,811

3,105,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Senior Lien Series 2023B

.250

07/01/48

3,295,034

2,890,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Senior Lien Series 2025C

.250

07/01/50

3,050,224

1,430,000

Michigan Finance Authority, Hospital Revenue Bonds, Henry

Ford Health System, Refunding Series 2016

.000

11/15/46

1,279,184

1,260,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/38

1,379,569

1,000,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/39

1,086,276

1,090,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/40

1,175,355

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MICHIGAN

(continued)

$

1,800,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

%

07/01/43

$

1,886,017

1,400,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/44

1,456,221

2,360,000

Michigan Hospital Finance Authority, Hospital Revenue Bonds,

Corewell Health, Series 2025A

.000

08/15/43

2,496,004

2,545,000

Michigan Hospital Finance Authority, Hospital Revenue Bonds,

Corewell Health, Series 2025A

.000

08/15/44

2,676,468

1,115,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2024A

.100

12/01/39

1,101,528

2,725,000

(g) Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2024A, (UB)

.500

12/01/44

2,702,315

1,250,000

Michigan Public Educational Facilities Authority, Limited

Obligation Revenue Bonds, Chandler Park Academy Project,

Series 2008

.500

11/01/35

1,250,785

4,000,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

I-75 Improvement Project, Series 2018, (AMT)

.000

12/31/43

4,006,159

2,455,000

Southfield Public Schools, County Of Oakland, State Of

Michigan, General Obligation Bonds, School Building and Site

Series 2025

.250

05/01/55

2,576,816

1,550,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2023B -

AGM Insured, (AMT)

.000

12/01/33

1,721,565

1,690,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2023B -

AGM Insured, (AMT)

.500

12/01/41

1,837,821

1,365,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2023B -

AGM Insured, (AMT)

.500

12/01/43

1,463,551

TOTAL MICHIGAN

65,965,920

MINNESOTA - 1.5%

150,000

City of Ham Lake, Minnesota, Charter School Lease Revenue

Bonds, DaVinci Academy Project,Series 2016A

.000

07/01/36

145,036

270,000

City of Ham Lake, Minnesota, Charter School Lease Revenue

Bonds, DaVinci Academy Project,Series 2016A

.000

07/01/47

230,978

2,805,000

(c) Dakota County Community Development Agency, Minnesota,

Senior Housing Revenue Bonds, Walker Highview Hills LLC

Project, Refunding Series 2016A

.000

08/01/46

2,567,682

3,000,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A

.250

02/15/48

2,735,004

3,295,000

Forest Lake, Minnesota Charter School Lease Revenue Bonds,

North Lakes Academy, Refunding Series 2021A

.000

07/01/41

2,973,215

11,160,000

Forest Lake, Minnesota Charter School Lease Revenue Bonds,

North Lakes Academy, Refunding Series 2021A

.000

07/01/56

9,142,016

11,605,000

Minnesota Agricultural and Economic Development Board,

Health Care Facilities Revenue Bonds, Essentia Health

Obligated Group, Series 2024A

.250

01/01/54

11,954,077

500,000

Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Nova Classical

Academy, Series 2016A

.125

09/01/47

418,327

1,580,000

Saint Paul Housing and Redevelopment Authority, Minnesota,

Health Care Facility Revenue Bonds, HealthPartners Obligated

Group, Refunding Series 2015A

.000

07/01/35

1,579,991

16,825,000

(c) Saint Paul Port Authority, Minnesota, Solid Waste Disposal

Revenue Bonds, Gerdau Saint Paul Steel Mill Project, Series

2012-7, (AMT)

.500

10/01/37

16,117,238

2,500,000

(h) St. Paul Housing and Redevelopment Authority, Minnesota,

Hospital Revenue Bonds, HealthEast Inc., Series 2015A, (Pre-

refunded 11/15/25)

.000

11/15/27

2,506,972

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA

(continued)

$

235,000

(h) St. Paul Housing and Redevelopment Authority, Minnesota,

Hospital Revenue Bonds, HealthEast Inc., Series 2015A, (Pre-

refunded 11/15/25)

.000

%

11/15/44

$

235,656

725,000

(c) Woodbury, Minnesota, Charter School Lease Revenue Bonds,

Math and Science Academy Building Company, Refunding

Series 2025A

.250

06/01/45

678,573

1,525,000

(c) Woodbury, Minnesota, Charter School Lease Revenue Bonds,

Math and Science Academy Building Company, Refunding

Series 2025A

.500

06/01/63

1,400,222

1,780,000

(c) Woodbury, Minnesota, Charter School Lease Revenue Bonds,

Math and Science Academy, Refunding Series 2025

.500

06/01/55

1,659,535

TOTAL MINNESOTA

54,344,522

MISSISSIPPI - 0.3%

4,500,000

Warren County, Mississippi, Certificates of Participation, Lease

Purchase Jail Project Series 2023 - BAM Insured

.000

09/01/48

4,959,585

6,200,000

Warren County, Mississippi, Certificates of Participation, Lease

Purchase Jail Project Series 2023 - BAM Insured

.000

09/01/53

6,760,398

TOTAL MISSISSIPPI

11,719,983

MISSOURI - 1.7%

3,185,000

Bi-State Development Agency, Missouri, Bi-State MetroLink

District, St Clair County Metrolink Extension Project Bonds,

Refunding Series 2006 - AGM Insured

.250

07/01/27

3,332,655

5,000,000

Kansas City Industrial Development Authority, Missouri, Airport

Special Obligation Bonds, Kansas City International Airport

Terminal Modernization Project, Series 2019A, (AMT)

.000

03/01/39

5,106,284

1,650,000

(c) Kansas City Industrial Development Authority, Missouri,

Economic Activity Tax Revenue Bonds, Historic Northeast

Redevelopment Plan Series 2024A-1

.000

06/01/54

1,522,689

2,000,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Children's Mercy Hospital, Series 2016

.000

05/15/39

1,982,341

15,100,000

Missouri Joint Municipal Electric Utility Commission, Power

Project Revenue Bonds, Plum Point Project, Refunding Series

2015A

.000

01/01/35

15,104,702

2,500,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Expansion & Improvement

Projects Series 2020 - AGM Insured

.000

10/01/40

2,619,309

8,025,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Expansion & Improvement

Projects Series 2020 - AGM Insured

.000

10/01/45

8,230,179

5,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/31

4,100,217

7,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/32

5,490,901

6,250,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/33

4,684,327

7,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/34

5,003,110

6,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/35

4,070,031

2,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/36

1,281,398

1,288,000

Saint Louis, Missouri, Tax Increment Financing Revenue Bonds,

Fashion Square Redevelopment Project, Series 2008A

.300

08/22/26

270,480

1,259,000

Saint Louis, Missouri, Tax Increment Financing Revenue Notes,

Marquette Building Redevelopment Project, Series 2008-A

.500

01/23/28

440,650

TOTAL MISSOURI

63,239,273

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MONTANA - 0.1%

$

1,910,000

Montana Facility Finance Authority, Healthcare Facility Revenue

Bonds, Kalispell Regional Medical Center, Series 2018B

.000

%

07/01/43

$

1,937,579

TOTAL MONTANA

1,937,579

NEBRASKA - 0.9%

7,500,000

Central Plains Energy Project, Nebraska, Gas Project Revenue

Bonds, Project 5, Series 2022-1, (Mandatory Put 10/01/29)

.000

05/01/53

7,975,985

6,500,000

(g) Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Social Series 2024C, (UB)

.550

09/01/44

6,510,265

17,500,000

(g) Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Social Series 2024C, (UB)

.800

09/01/54

17,518,543

TOTAL NEBRASKA

32,004,793

NEVADA - 0.1%

1,150,000

Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe

Regional Healthcare Project, Series 2017A

.000

09/01/47

1,122,185

4,359,392

(c),(e)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

Holdings LLC, Green Series 2019, (AMT)

.750

02/15/38

3,900,000

(c) Director of Nevada State Department of Business and Industry,

Revenue Bonds, Brightline West Passenger Rail Project, Series

2025A, (AMT), (Mandatory Put 1/01/33)

.500

01/01/65

3,565,847

TOTAL NEVADA

4,688,076

NEW HAMPSHIRE - 0.8%

4,384,311

National Finance Authority, New Hampshire, Municipal

Certificates Social Series 2023-2 Class A

.875

01/20/38

4,072,915

4,340,000

(c) National Finance Authority, New Hampshire, Resource

Recovery Revenue Bonds, Covanta Project, Refunding Series

2018B

.625

11/01/42

3,915,421

12,405,000

(c) National Finance Authority, New Hampshire, Special

Revenue Bonds, Bridgeland Water & Utility Districts

418,489,492,493,157 & 159, Series 2025

.875

12/15/33

12,484,505

12,000,000

(c) New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Covenant Health Group Series 2023

.000

07/01/37

10,263,276

TOTAL NEW HAMPSHIRE

30,736,117

NEW JERSEY - 1.5%

9,090,000

(h) New Jersey Economic Development Authority, School Facilities

Construction Bonds, Series 2016AAA, (Pre-refunded 12/15/26)

.500

06/15/29

9,418,090

2,255,000

New Jersey Economic Development Authority, Special

Facilities Revenue Bonds, Continental Airlines Inc., Series

2000A & 2000B, (AMT)

.625

11/15/30

2,258,997

1,000,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Higher Education Capital Improvement Fund Series 2023A

.000

09/01/37

1,092,584

1,825,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Higher Education Capital Improvement Fund Series 2023A

.000

09/01/39

1,963,504

2,000,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Higher Education Capital Improvement Fund Series 2023A

.000

09/01/41

2,117,961

1,265,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Higher Education Capital Improvement Fund Series 2023A

.000

09/01/43

1,319,239

1,250,000

New Jersey Health Care Facilities Authority, Revenue Bonds,

Atlanticare Health System Obligated Group Issue, Series 2021

- BAM Insured

.000

07/01/38

1,145,580

4,110,000

New Jersey Health Care Facilities Authority, Revenue Bonds,

Atlanticare Health System Obligated Group Issue, Series 2021

- BAM Insured

.000

07/01/41

3,578,711

4,500,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2015AA

.250

06/15/41

4,502,999

3,955,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019AA

.250

06/15/43

4,065,526

5,500,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019BB

.000

06/15/44

5,598,692

4,000,000

(h) New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019BB, (Pre-refunded 12/15/28)

.000

06/15/50

4,329,815

3,175,000

New Jersey Turnpike Authority, Revenue Bonds, Series 2005A

- AGM Insured

.250

01/01/26

3,195,576

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW JERSEY

(continued)

$

9,185,000

New Jersey Turnpike Authority, Turnpike Revenue Bonds,

Series 2025A

.250

%

01/01/50

$

9,843,582

TOTAL NEW JERSEY

54,430,856

NEW MEXICO - 0.0%

990,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021C

.350

07/01/51

603,674

TOTAL NEW MEXICO

603,674

NEW YORK - 8.9%

1,835,000

Babylon Local Development Corporation II, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2023A

.400

02/01/43

1,861,492

2,710,000

Buffalo and Erie County Industrial Land Development

Corporation, New York, Revenue Bonds, Catholic Health

System, Inc. Project, Series 2015

.250

07/01/35

2,653,158

250,000

Buffalo and Erie County Industrial Land Development

Corporation, New York, Revenue Bonds, Charter School for

Applied Technologies, Series 2017A

.000

06/01/35

254,476

1,790,000

(c) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020A-1

.250

06/01/40

1,702,381

4,800,000

(c) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020A-1

.500

06/01/55

4,171,840

1,260,000

(c) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020C-1

.000

06/01/40

1,167,396

3,035,000

(c) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020C-1

.000

06/01/55

2,442,742

8,145,000

Dormitory Authority of the State of New York, Revenue Bonds,

Icahn School of Medicine at Mount Sinai, Refunding Series

2015A

.000

07/01/40

8,144,390

100,000

(c) Dormitory Authority of the State of New York, Revenue Bonds,

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/34

99,945

300,000

(c) Dormitory Authority of the State of New York, Revenue Bonds,

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/36

291,498

1,415,000

Dormitory Authority of the State of New York, Revenue Bonds,

School Districts Financing Program, Series 2025A

.000

10/01/37

1,583,499

770,000

Dormitory Authority of the State of New York, Revenue Bonds,

School Districts Financing Program, Series 2025A

.000

10/01/38

853,567

1,000,000

Dormitory Authority of the State of New York, Revenue Bonds,

School Districts Financing Program, Series 2025A

.000

10/01/40

1,090,052

1,520,000

Dormitory Authority of the State of New York, Revenue Bonds,

White Plains Hospital, Series 2024

.250

10/01/49

1,534,259

7,395,000

Dormitory Authority of the State of New York, State Sales Tax

Revenue Bonds, Series 2017A Group C

.000

03/15/41

7,515,189

8,535,000

Dutchess County Local Development Corporation, New York,

Revenue Bonds, Health Quest Systems, Inc. Project, Series

2016B

.000

07/01/41

8,018,406

405,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Refunding Series 2020B

.760

02/01/27

405,539

1,255,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Refunding Series 2020B

.570

02/01/41

1,201,258

1,365,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2017A

.240

02/01/47

1,341,588

1,000,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2020A

.530

02/01/40

963,878

455,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2021A

.050

02/01/31

442,131

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

885,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2021A

.450

%

02/01/41

$

748,652

1,560,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2021A

.600

02/01/51

1,194,629

6,500,000

Long Island Power Authority, New York, Electric System General

Revenue Bonds, Series 2016B

.000

09/01/41

6,529,963

11,000,000

(g) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020C-1, (UB)

.250

11/15/55

11,219,166

1,600,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024A-1

.550

11/01/44

1,600,717

2,350,000

(g) New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024A-1, (UB)

.750

11/01/54

2,370,661

3,040,000

(g) New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024B-1-A, (UB)

.650

11/01/49

3,055,230

1,585,000

(g) New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024B-1-A, (UB)

.750

11/01/54

1,607,027

750,000

New York City Housing Development Corporation, New York,

Multi-Family Mortgage Revenue Bonds, 8 Spruce Street, Class

F Series 2024

.250

12/15/31

774,135

655,000

New York City Housing Development Corporation, New York,

Multi-Family Mortgage Revenue Bonds, 8 Spruce Street,

Taxable Class E Series 2024

.375

12/15/31

673,970

3,000,000

(e) New York City Industrial Development Agency, New York, Civic

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.300

10/01/37

1,920,000

1,000,000

(e) New York City Industrial Development Agency, New York, Civic

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.350

10/01/46

640,000

15,685,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2018 Series A-3

.000

08/01/41

16,000,568

1,455,000

New York City, New York, General Obligation Bonds, Fiscal

2024 Series A

.000

08/01/41

1,553,794

2,570,000

New York City, New York, General Obligation Bonds, Fiscal

2024 Series A

.000

08/01/42

2,725,662

1,250,000

New York City, New York, General Obligation Bonds, Fiscal

2024 Series A

.000

08/01/43

1,319,895

3,480,000

New York City, New York, General Obligation Bonds, Fiscal

2024 Series A

.000

08/01/45

3,644,076

4,590,000

(g) New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 258, (UB)

.450

10/01/44

4,549,688

5,505,000

(g) New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Social Series 258, (UB)

.600

10/01/49

5,411,757

4,675,000

(g) New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Social Series 258, (UB)

.650

10/01/54

4,665,358

8,005,000

New York State Urban Development Corporation, State Sales

Tax Revenue Bonds, Empire Bidding Group 4 Series 2023A

.000

03/15/42

8,529,084

9,570,000

New York State Urban Development Corporation, State Sales

Tax Revenue Bonds, Empire Bidding Group 4 Series 2023A

.000

03/15/44

10,067,161

8,120,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A - AGM Insured, (AMT)

.000

07/01/36

7,998,262

25,925,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/41

25,923,673

3,210,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/46

3,182,376

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

8,045,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.250

%

01/01/50

$

8,044,639

2,520,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, American Airlines, Inc. John F

Kennedy International Airport Project, Series 2020, (AMT)

.250

08/01/31

2,616,612

9,275,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, American Airlines, Inc. John F

Kennedy International Airport Project, Series 2020, (AMT)

.375

08/01/36

9,647,918

21,455,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport New Terminal 1 Project, Green Series 2024, (AMT)

.500

06/30/54

21,827,744

2,000,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023,

(AMT)

.500

06/30/38

2,121,537

780,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023 -

AGM Insured, (AMT)

.500

06/30/42

811,138

3,220,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023,

(AMT)

.000

06/30/54

3,357,123

6,585,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023 -

AGM Insured, (AMT)

.125

06/30/60

6,591,519

12,640,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023,

(AMT)

.375

06/30/60

12,524,345

1,100,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2020C

.000

12/01/41

1,040,683

10,000,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2018, (AMT)

.000

01/01/32

10,278,644

14,690,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2020, (AMT)

.000

10/01/35

15,353,759

4,000,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2020, (AMT)

.000

10/01/40

4,043,548

6,200,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2023, (AMT)

.000

04/01/35

6,818,805

10,965,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2023, (AMT)

.625

04/01/40

11,463,103

2,140,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding

Senior Lien Green Climate Bond Certified Series 2023C

.250

11/15/39

2,391,637

7,340,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding

Senior Lien Green Climate Bond Certified Series 2023C

.250

11/15/40

8,155,628

10,000,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding

Senior Lien Green Climate Bond Certified Series 2023C

.000

11/15/41

10,721,875

6,465,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding

Senior Lien Green Climate Bond Certified Series 2023C

.250

11/15/42

7,058,389

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

2,050,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding

Senior Lien Green Climate Bond Certified Series 2023C

.000

%

11/15/43

$

2,166,765

2,670,000

Triborough Bridge and Tunnel Authority, New York, Real Estate

Transfer Tax Revenue Bonds, MTA Bridges and Tunnels, TBTA

Capital Lockbox Fund, Series 2025A

.250

12/01/54

2,815,809

5,000,000

TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series

2006

.000

06/01/45

4,395,329

1,760,000

Westchester County Local Development Corporation, New

York, Revenue Bonds, Westchester Medical Center Obligated

Group Project, Series 2023

.250

11/01/52

1,764,071

TOTAL NEW YORK

331,654,808

NORTH CAROLINA - 0.0%

1,000,000

North Carolina Medical Care Commission, Retirement Facilities

First Mortgage Revenue Bonds, The Forest at Duke, Inc., Series

2021

.000

09/01/46

822,195

TOTAL NORTH CAROLINA

822,195

NORTH DAKOTA - 0.4%

10,770,000

(g) North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Social Series 2024A, (UB)

.550

07/01/44

10,747,785

4,000,000

North Dakota Housing Finance Agency, Home Mortgage

Program Revenue Bonds, Social Series 2024D

.500

07/01/44

3,966,737

TOTAL NORTH DAKOTA

14,714,522

OHIO - 1.0%

5,195,000

Allen County, Ohio, Hospital Facilities Revenue Bonds, Bon

Secours Mercy Health, Inc., Series 2020A

.000

12/01/40

5,024,570

15,000,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Capital Appreciation Series 2020B-3 Class 2

.000

06/01/57

1,406,841

1,860,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020B-2 Class 2

.000

06/01/55

1,589,867

3,770,000

Butler County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2016

.000

11/15/45

3,711,406

2,240,000

Cuyahoga County, Ohio, Hospital Revenue Bonds, MetroHealth

System, Series 2017

.000

02/15/52

2,081,350

2,625,000

Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2025A

.500

08/01/41

2,750,379

1,500,000

Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2025A

.500

08/01/42

1,555,496

1,475,000

Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2025A

.500

08/01/51

1,490,443

3,350,000

Montgomery County, Ohio, Health Care Facilities Revenue

Bonds, Solvita Project Refunding and Improvement Series 2024

.250

09/01/54

3,408,777

5,000,000

(c) Ohio Air Quality Development Authority, Ohio, Exempt

Facilities Revenue Bonds, AMG Vanadium Project, Series 2019,

(AMT)

.000

07/01/49

4,582,023

985,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A

.350

09/01/44

981,931

2,060,000

(g) Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A, (UB)

.650

09/01/54

2,039,794

3,750,000

Ohio State, Private Activity Bonds, Portsmouth Gateway Group,

LLC - Borrower, Portsmouth Bypass Project, Series 2015 - AGM

Insured, (AMT)

.000

12/31/39

3,749,447

3,080,000

University of Cincinnati, Ohio, General Receipts Bonds, Series

2025A

.250

06/01/45

3,281,377

TOTAL OHIO

37,653,701

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA - 0.7%

$

1,470,000

Oklahoma City Airport Trust, Oklahoma, Revenue Bonds,

Junior Lien Thirty-Third Series 2018, (AMT)

.000

%

07/01/47

$

1,473,697

8,550,000

Oklahoma County, Oklahoma, Finance Authority, Educational

Facilities Lease Revenue Bonds, Choctaw-Nicoma Park Public

Schools Project, Series 2023

.000

09/01/41

8,987,963

14,595,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.500

08/15/52

14,646,913

1,280,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.500

08/15/57

1,282,827

TOTAL OKLAHOMA

26,391,400

OREGON - 0.2%

2,910,000

Astoria Hospital Facilities Authority, Oregon, Hospital Revenue

Bonds, Columbia Memorial Hospital Project, Series 2024

.250

08/01/54

2,908,473

175,000

Oregon Housing and Community Services Department,

Multifamily Housing Revenue Bonds, Refunding Series 2010A,

(AMT)

.150

07/01/42

177,510

4,100,000

(c) Port of Morrow, Morrow County Oregon, Full Faith and Credit

Obligations, Series 2024A

.150

10/01/26

4,099,972

TOTAL OREGON

7,185,955

PENNSYLVANIA - 4.7%

315,000

Allegheny Country Industrial Development Authority,

Pennsylvania, Environmental Improvement Revenue Bonds,

United States Steel Corporation Project, Series 2012, (AMT)

.750

08/01/42

315,088

1,000,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.250

01/01/36

1,097,239

1,000,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.250

01/01/37

1,088,409

1,000,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.250

01/01/38

1,079,603

1,250,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.250

01/01/40

1,323,310

2,000,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.500

01/01/41

2,154,230

2,155,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, University of Pittsburgh Medical

Center, Series 2019A

.000

07/15/37

2,108,892

8,775,000

Bucks County Industrial Development Authority, Pennsylvania,

Hospital Revenue Bonds, Saint Luke's University Health

Network Project, Series 2021 - AGM Insured

.000

08/15/53

6,327,433

4,860,000

Central Bradford Progress Authority, Pennsylvania, Revenue

Bonds, Guthrie Health, Series 2021B - BAM Insured

.000

12/01/44

4,065,881

6,300,000

Central Bradford Progress Authority, Pennsylvania, Revenue

Bonds, Guthrie Health, Series 2021B - BAM Insured

.000

12/01/51

5,854,041

520,000

Cumberland County Municipal Authority, Pennsylvania,

Revenue Bonds, Diakon Lutheran Social Ministries Project,

Series 2015

.000

01/01/38

519,957

9,000,000

Geisinger Authority, Montour County, Pennsylvania, Health

System Revenue Bonds, Geisinger Health System, Series

2017A-2

.000

02/15/39

9,130,023

1,200,000

Lancaster Municipal Authority, Pennsylvania, Healthcare

Facilities Revenue Bonds, Garden Spot Village Project Series

2024A

.000

05/01/44

1,207,891

4,000,000

Montgomery County Higher Education and Health Authority,

Pennsylvania, Revenue Bonds, Thomas Jefferson University,

Series 2018A

.000

09/01/36

3,956,454

5,445,000

Montgomery County Higher Education and Health Authority,

Pennsylvania, Revenue Bonds, Thomas Jefferson University,

Series 2018A

.000

09/01/43

5,512,846

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

2,000,000

Montgomery County Higher Education and Health Authority,

Pennsylvania, Revenue Bonds, Thomas Jefferson University,

Series 2019

.000

%

09/01/37

$

1,953,835

8,750,000

Northampton County General Purpose Authority, Pennsylvania,

Hospital Revenue Bonds, Saint Luke's University Health

Network Project, Series 2016A

.000

08/15/34

8,774,782

2,410,000

(c),(e),(i)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2020A-1

.000

12/01/40

2,410,000

(c),(e),(i)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2020A-2, (AMT)

.000

12/01/40

1,650,000

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, National Gypsum Company,

Refunding Series 2014, (AMT)

.500

11/01/44

1,650,355

1,000,000

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, PPL Energy Supply, LLC

Project, Refunding Series 2009C, (Mandatory Put 6/01/27)

.250

12/01/37

1,007,990

5,000,000

Pennsylvania Economic Development Financing Authority,

Pennsylvania, Private Activity Revenue Bonds, The PennDOT

Major Bridges Package One Project, Series 2022, (AMT)

.500

06/30/40

5,233,900

5,000,000

Pennsylvania Economic Development Financing Authority,

Pennsylvania, Private Activity Revenue Bonds, The PennDOT

Major Bridges Package One Project, Series 2022, (AMT)

.000

06/30/61

5,249,801

3,750,000

Pennsylvania Economic Development Financing Authority,

Private Activity Revenue Bonds, Pennsylvania Rapid Bridge

Replacement Project, Series 2015, (AMT)

.000

12/31/38

3,761,853

4,000,000

Pennsylvania Economic Development Financing Authority,

Revenue Bonds, University of Pittsburgh Medical Center, Series

2017A

.000

11/15/42

3,621,955

3,865,000

Pennsylvania Higher Educational Facilities Authority, Revenue

Bonds, LaSalle University, Series 2012

.000

05/01/37

2,994,603

7,130,000

(g),(j)

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2023-143A, (UB)

.450

04/01/51

7,423,576

6,780,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-144A, (UB)

.450

10/01/44

6,720,478

2,730,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-144A, (UB)

.600

10/01/49

2,687,614

1,310,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-144A, (UB)

.650

10/01/51

1,290,451

4,545,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-145A, (UB)

.750

10/01/49

4,526,493

4,545,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2025-148A, (UB)

.800

10/01/55

4,563,961

15,000,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Subordinate Series 2009C - AGM Insured

.250

06/01/33

15,323,577

25,430,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Subordinate Series 2017B-1

.000

06/01/42

25,714,826

1,500,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Subordinate Series 2021A

.000

12/01/42

1,219,857

2,500,000

Philadelphia Authority for Industrial Development,

Pennsylvania, City Service Agreement Revenue Bonds, Series

2018

.000

05/01/36

2,607,287

2,250,000

Philadelphia Authority for Industrial Development,

Pennsylvania, City Service Agreement Revenue Bonds, Series

2018

.000

05/01/37

2,338,467

1,000,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, La Salle University, Series 2017

.000

05/01/42

612,423

2,230,000

(c) Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Mariana Bracetti Academy

Project, Series 2020A

.375

06/15/50

2,051,283

2,000,000

Philadelphia Hospitals and Higher Education Facilities

Authority, Pennsylvania, Hospital Revenue Bonds, Temple

University Health System Obligated Group, Series of 2017

.000

07/01/29

2,047,301

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

7,450,000

Philadelphia Hospitals and Higher Education Facilities

Authority, Pennsylvania, Hospital Revenue Bonds, Temple

University Health System Obligated Group, Series of 2017

.000

%

07/01/30

$

7,619,960

1,000,000

Philadelphia Hospitals and Higher Education Facilities

Authority, Pennsylvania, Hospital Revenue Bonds, Temple

University Health System Obligated Group, Series of 2017

.000

07/01/31

1,020,719

3,315,000

Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding

Series 2017B, (AMT)

.000

07/01/33

3,396,734

2,595,000

The Hospitals and Higher Education Facilities Authority of

Philadelphia, Pennsylvania, Hospital Revenue Bonds Temple

University Health System Obligated Group Series of 2017

.000

07/01/33

2,635,142

TOTAL PENNSYLVANIA

173,791,002

PUERTO RICO - 1.9%

2,000,000

(c) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/42

1,803,435

7,164,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.550

07/01/40

7,006,876

118,500,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/51

29,808,355

15,339,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/58

14,826,572

1,000,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured Cofina Project Series 2019A-2A

.550

07/01/40

978,068

14,500,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/37

13,774,450

5,000,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/41

4,482,393

TOTAL PUERTO RICO

72,680,149

SOUTH CAROLINA - 0.3%

1,485,000

South Carolina Jobs-Economic Development Authority, Health

Care Facilities Revenue Bonds, Novant Health Group, Series

2024A

.500

11/01/48

1,573,917

1,660,000

South Carolina Jobs-Economic Development Authority, Health

Care Facilities Revenue Bonds, Novant Health Group, Series

2024A

.500

11/01/49

1,756,502

3,650,000

South Carolina Jobs-Economic Development Authority, Health

Care Facilities Revenue Bonds, Novant Health Group, Series

2024A

.500

11/01/50

3,859,336

2,500,000

South Carolina Jobs-Economic Development Authority,

Hospital Revenue Bonds, McLeod Health Projects, Refunding &

Improvement Series 2018

.000

11/01/43

2,531,781

TOTAL SOUTH CAROLINA

9,721,536

SOUTH DAKOTA - 0.0%

400,000

South Dakota Health and Educational Facilities Authority,

Revenue Bonds, Sanford Health, Series 2015

.000

11/01/45

400,743

510,000

South Dakota Health and Educational Facilities Authority,

Revenue Bonds, Sanford Health, Series 2015

.000

11/01/45

511,125

TOTAL SOUTH DAKOTA

911,868

TENNESSEE - 2.5%

2,500,000

Bristol Industrial Development Board, Tennessee, Tax

Increment Revenue Bonds, Pinnacle Project, Series 2016

.625

06/01/35

2,215,328

4,000,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Health System Revenue Bonds, Erlanger Health

Series 2024

.250

12/01/49

4,167,974

510,000

DeKalb Utility District, DeKalb County, Tennessee, Waterworks

Revenue Bonds, Refunding Series 2017

.500

04/01/42

424,720

4,200,000

Greeneville Health and Educational Facilities Board, Tennessee,

Hospital Revenue Bonds, Ballad Health, Series 2018A

.000

07/01/36

4,304,905

4,755,000

Hendersonville Industrial Development Board, Tennessee,

Multifamily Housing Revenue Bonds, Hickory Pointe Poject,

Series 2010

.875

12/01/25

4,769,589

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TENNESSEE

(continued)

$

145,000

(h) Jackson, Tennessee, Hospital Revenue Bonds, Jackson-

Madison County General Hospital Project, Series 2018A, (Pre-

refunded 10/01/28)

.000

%

04/01/41

$

155,572

2,740,000

Jackson, Tennessee, Hospital Revenue Bonds, Jackson-

Madison County General Hospital Project, Series 2018A

.000

04/01/41

2,778,002

9,570,000

(h) Johnson City Health and Educational Facilities Board,

Tennessee, Hospital Revenue Refunding and Improvement

Bonds, Johnson City Medical Center, Series 1998C - NPFG

Insured, (ETM)

.250

07/01/28

9,873,839

2,000,000

Knox County Health, Educational and Housing Facilities Board,

Tennessee, Revenue Bonds, University Health System, Inc.,

Series 2017

.000

04/01/36

1,838,688

310,000

Knox County Health, Educational and Housing Facilities Board,

Tennessee, Revenue Bonds, University Health System, Inc.,

Series 2017

.000

04/01/36

312,400

2,955,000

Knox County Health, Educational and Housing Facility Board,

Tennessee, Hospital Revenue Bonds, Covenant Health,

Refunding Series 2016A

.000

01/01/36

3,004,518

14,000,000

Knox County Health, Educational and Housing Facility Board,

Tennessee, Hospital Revenue Bonds, Covenant Health,

Refunding Series 2016A

.000

01/01/42

14,099,537

100,000

(e) Memphis/Shelby County Economic Development Growth

Engine Industrial Development Board, Tennessee, Tax

Increment Revenue Bonds, Graceland Project, Senior Series

2017A

.750

07/01/27

93,682

2,930,000

Metropolitan Government of Nashville and Davidson County

Sports Authority, Tennessee, Revenue Bonds, Stadium Project,

Subordinate Senior Series 2023A - AGM Insured

.000

07/01/38

3,193,280

2,500,000

Metropolitan Government of Nashville and Davidson County

Sports Authority, Tennessee, Revenue Bonds, Stadium Project,

Subordinate Senior Series 2023A - AGM Insured

.000

07/01/39

2,703,593

1,320,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Belmont University, Series 2023

.000

05/01/42

1,370,786

2,000,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Belmont University, Series 2023

.000

05/01/43

2,062,918

515,000

(c) Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Rocketship Education Project, Series 2017E

.375

06/01/52

473,146

3,965,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University Medical Center, Series 2016A

.000

07/01/40

3,982,372

385,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University Medical Center, Series 2017A

.000

07/01/48

385,367

10,805,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University, Series 2023A

.000

07/01/28

11,434,667

11,625,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University, Series 2023A

.000

07/01/33

13,049,391

360,000

(c) Nashville Metropolitan Development and Housing Agency,

Tennessee, Tax increment Bonds, Fifth & Broadway

Development Project, Series 2018

.500

06/01/28

364,290

2,100,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006B

.625

09/01/26

2,133,707

5,090,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006C

.000

02/01/27

5,186,122

500,000

West Knox Utility District of Knox County, Tennessee, Water

and Sewer Revenue Bonds, Refunding & Improvement Series

2016

.000

06/01/41

500,139

TOTAL TENNESSEE

94,878,532

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS - 7.8%

$

4,665,000

(d) Austin, Texas, Certificates of Obligation, Series 2025

.000

%

09/01/40

$

5,164,836

2,540,000

(d) Austin, Texas, Certificates of Obligation, Series 2025

.000

09/01/41

2,782,784

4,500,000

(d) Austin, Texas, Certificates of Obligation, Series 2025

.000

09/01/42

4,881,375

3,500,000

(d) Austin, Texas, Certificates of Obligation, Series 2025

.000

09/01/43

3,770,491

3,115,000

(d) Austin, Texas, Certificates of Obligation, Series 2025

.000

09/01/45

3,329,812

2,250,000

(d) Austin, Texas, General Obligation Bonds, Refunding & Public

Improvement Series 2025

.000

09/01/42

2,440,688

2,500,000

(d) Austin, Texas, General Obligation Bonds, Refunding & Public

Improvement Series 2025

.000

09/01/44

2,679,747

2,500,000

(d) Austin, Texas, General Obligation Bonds, Refunding & Public

Improvement Series 2025

.000

09/01/45

2,672,401

400,000

(c) Buda, Texas, Special Assessment Revenue Bonds, Persimmon

Public improvement District Improvement Area 1 Project,

Series 2025

.000

09/01/55

387,961

1,700,000

(c) Buda, Texas, Special Assessment Revenue Bonds, Persimmon

Public improvement District Major Improvement Area Project,

Series 2025

.625

09/01/45

1,673,019

3,600,000

Central Texas Regional Mobility Authority, Revenue Bonds,

Senior Lien Series 2020E

.000

01/01/45

3,656,955

8,275,000

Chambers County Justice Center Public Facilities Corporation,

Texas, Lease Revenue Bonds, Series 2024

.500

06/01/49

8,779,222

10,275,000

Chambers County Justice Center Public Facilities Corporation,

Texas, Lease Revenue Bonds, Series 2024

.500

06/01/55

10,836,697

5,500,000

Clifton Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Uplift Education Charter School,

Series 2014A

.250

12/01/34

5,500,445

300,000

(c) Clifton Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Valor Education Foundation, Series

2024A

.750

06/15/44

281,513

1,000,000

(c) Denton County, Texas, Special Assessment Revenue

Bonds, Green Meadows Public Improvement District Major

Improvement Area Project, Series 2025

.875

12/31/45

1,019,752

700,000

(c) Denton County, Texas, Special Assessment Revenue Bonds,

Green Meadows Public Improvement District, Improvement

Area 1 Project, Series 2025

.625

12/31/55

714,235

7,055,000

DeSoto Independent School District, Dallas County, Texas,

General Obligation Bonds, School Building Series 2025

.000

08/15/38

7,787,142

7,220,000

DeSoto Independent School District, Dallas County, Texas,

General Obligation Bonds, School Building Series 2025

.000

08/15/39

7,906,207

8,555,000

DeSoto Independent School District, Dallas County, Texas,

General Obligation Bonds, School Building Series 2025

.000

08/15/42

9,127,582

2,970,000

Elgin, Bastrop and Travis Counties, Texas, Certificates of

Participation, Combination Tax Tax Increment Reinvestment

Zone 1, Subordinate Lien Series 2021A - BAM Insured

.000

07/15/40

2,898,761

2,000,000

Fort Bend County Industrial Development Corporation, Texas,

Revenue Bonds, NRG Energy Inc. Project, Series 2012B

.750

11/01/42

1,977,750

795,000

Galveston, Texas, Wharves and Terminal First Lien Revenue

Bonds, Series 2023, (AMT)

.250

08/01/33

874,960

1,185,000

Galveston, Texas, Wharves and Terminal First Lien Revenue

Bonds, Series 2023, (AMT)

.000

08/01/35

1,265,012

1,000,000

Galveston, Texas, Wharves and Terminal First Lien Revenue

Bonds, Series 2023, (AMT)

.250

08/01/37

1,065,785

795,000

Galveston, Texas, Wharves and Terminal First Lien Revenue

Bonds, Series 2023, (AMT)

.250

08/01/38

840,195

700,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.500

02/15/37

820,953

445,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.500

02/15/38

516,643

1,775,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/15/39

1,965,344

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,900,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

%

02/15/40

$

2,075,348

2,500,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/15/41

2,703,506

2,350,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/15/42

2,517,308

3,000,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/15/43

3,192,469

2,385,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/15/44

2,524,011

10,000,000

Greater Texas Cultural Educational Facilities Finance

Corporation, Texas, Revenue Bonds, Biomedical Research

Institute Series 2024A

.250

06/01/54

9,204,927

1,310,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/39

1,434,675

2,600,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/40

2,814,528

2,660,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/41

2,851,586

2,705,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/42

2,875,993

2,250,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/44

2,365,546

2,000,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/45

2,096,548

8,585,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Revenue Refunding Bonds, Young Men's

Christian Association of the Greater Houston Area, Series

2013A

.000

06/01/33

8,372,453

2,500,000

Houston, Texas, Airport System Revenue Bonds, Refunding

Subordinate Lien Series 2023A - AGM Insured, (AMT)

.250

07/01/39

2,713,585

2,255,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/36

2,451,410

1,340,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/37

1,447,653

1,150,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/38

1,234,706

1,220,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/39

1,300,370

2,560,000

Houston, Texas, Hotel Occupancy Tax and Special Revenue

Bonds, Convention and Entertainment Facilities Department,

Refunding Series 2014

.000

09/01/32

2,563,698

335,000

Houston, Texas, Hotel Occupancy Tax and Special Revenue

Bonds, Convention and Entertainment Facilities Department,

Refunding Series 2014

.000

09/01/34

335,445

1,360,000

Kerrville Health Facilities Development Corporation, Texas,

Revenue Bonds, Sid Peterson Memorial Hospital Project, Series

2015

.000

08/15/30

1,363,191

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,280,000

Kerrville Health Facilities Development Corporation, Texas,

Revenue Bonds, Sid Peterson Memorial Hospital Project, Series

2015

.000

%

08/15/35

$

1,282,989

3,300,000

Love Field Airport Modernization Corporation, Texas, Special

Facilities Revenue Bonds, Southwest Airlines Company - Love

Field Modernization Program Project, Series 2012, (AMT)

.000

11/01/28

3,301,419

665,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Legacy at Willow

Bend Project, Series 2016

.000

11/01/46

526,303

805,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Legacy at Willow

Bend Project, Series 2016

.000

11/01/51

612,275

570,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Legacy Midtown

Park Project, Series 2018A

.500

07/01/54

468,266

760,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Wesleyan Homes,

Inc. Project, Series 2014

.500

01/01/43

739,112

6,625,000

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 - AGM Insured

.100

04/01/34

6,625,965

10,000,000

(e) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, NCCD - College

Station Properties LLC - Texas A&M University Project, Series

2015A

.000

07/01/47

9,285,083

10,880,000

(h) North Texas Tollway Authority, Special Projects System Revenue

Bonds, Convertible Capital Appreciation Series 2011C, (Pre-

refunded 9/01/31)

.750

09/01/45

13,233,542

2,000,000

Pflugerville, Travis and Williamson Counties, Texas, Certificates

of Obligation, Combination Tax and Revenue Limited Series

2023

.000

08/01/43

2,116,780

1,500,000

Pflugerville, Travis and Williamson Counties, Texas, Certificates

of Obligation, Combination Tax and Revenue Limited Series

2023

.000

08/01/44

1,578,035

7,205,000

Pflugerville, Travis and Williamson Counties, Texas, Certificates

of Obligation, Combination Tax and Revenue Limited Series

2023

.250

08/01/55

7,587,740

1,000,000

(c) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.125

09/15/45

1,024,097

620,000

(c) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.125

09/15/55

633,347

1,000,000

(c) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2024A, (AMT)

.125

01/01/44

965,245

555,000

(c) Princeton, Texas, Special Assessment Revenue Bonds,

Winchester Crossing Public Improvement District 3 Project,

Series 2024

.125

09/01/44

526,782

535,000

Reagan Hospital District of Reagan County, Texas, Limited Tax

Revenue Bonds, Series 2014A

.000

02/01/29

535,167

1,805,000

Reagan Hospital District of Reagan County, Texas, Limited Tax

Revenue Bonds, Series 2014A

.000

02/01/34

1,804,912

385,000

Reagan Hospital District of Reagan County, Texas, Limited Tax

Revenue Bonds, Series 2014A

.125

02/01/39

375,447

645,000

SA Energy Acquisition Public Facilities Corporation, Texas, Gas

Supply Revenue Bonds, Series 2007

.500

08/01/27

667,510

500,000

San Antonio Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding School Building Series

2025

.000

08/15/39

552,401

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

4,000,000

San Antonio Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding School Building Series

2025

.000

%

08/15/40

$

4,375,083

2,395,000

San Antonio Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding School Building Series

2025

.000

08/15/41

2,592,380

4,450,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.000

08/15/40

4,894,155

4,230,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.250

08/15/42

4,680,217

3,825,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.250

08/15/43

4,203,273

6,760,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.250

08/15/45

7,354,560

3,000,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2016A

.000

02/15/41

3,023,032

10,000,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025A

.000

11/15/37

11,082,607

4,520,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025A

.000

11/15/38

4,971,234

3,900,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025A

.000

11/15/39

4,259,565

4,900,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025A

.000

11/15/40

5,313,394

1,750,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.375

06/30/37

1,853,480

1,360,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.375

06/30/39

1,428,837

1,000,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.500

06/30/40

1,049,621

580,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.500

06/30/43

598,504

5,000,000

Texas Private Activity Bond Surface Transporation Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Segments 3C Project, Series 2019, (AMT)

.000

06/30/58

4,917,853

1,680,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

12/31/37

1,637,870

1,750,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/38

1,693,102

1,300,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/39

1,240,490

1,500,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

12/31/39

1,421,171

3,690,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/40

3,458,842

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

5,000,000

Waco, Texas, Certificates of Obligation, Combination Tax &

Revenue Series 2024A

.000

%

02/01/49

$

5,234,658

TOTAL TEXAS

291,783,568

UTAH - 1.3%

500,000

(c) Arrowhead Springs Public Infrastructure District, Utah, Special

Assessment Bonds, Arrowhead Springs Assessment Area,

Series 2025

.625

12/01/54

500,280

740,000

(c) Black Desert Public Infrastructure District, Washington County,

Utah, Special Assessment Bonds, Black Desert Assessment

Area 1, Series 2024

.625

12/01/53

741,988

1,000,000

(c) MIDA Mountain Village Public Infrastructure District, Utah,

Subordinate Tax Allocation Revenue Bonds, Series 2024-2

.500

06/15/39

1,011,666

3,500,000

Military Installation Development Authority, Utah, Tax

Allocation Revenue Bonds Series 2021A-2

.000

06/01/41

3,104,841

2,600,000

(c) Red Bridge Public Infrastructure District 1, Utah, Limited Tax

General Obligation Bonds, Series 2021A

.375

02/01/51

2,009,372

19,115,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2017A, (AMT)

.000

07/01/42

19,180,929

13,165,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2018A, (AMT)

.000

07/01/37

13,484,337

1,700,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.250

07/01/41

1,791,433

1,750,000

(g) Utah Housing Corporation, Single Family Mortgage Bonds,

Series 2024C, (UB)

.450

01/01/44

1,734,970

3,365,000

(g) Utah Housing Corporation, Single Family Mortgage Bonds,

Series 2024C, (UB)

.650

01/01/49

3,333,905

635,000

(g) Utah Housing Corporation, Single Family Mortgage Bonds,

Series 2024C, (UB)

.700

01/01/54

635,906

1,000,000

(c) Wakara Ridge Public Infrastructure District, Utah, Special

Assessment Bonds, Wakara Ridge Assessment Area, Series

2025

.625

12/01/54

1,013,591

TOTAL UTAH

48,543,218

VIRGIN ISLANDS - 0.1%

1,100,000

(c) Virgin Islands Public Finance Authority, Revenue Bonds,

Frenchman's Reef Hotel Development Hotel Occupancy Series

2024A

.000

04/01/53

1,119,948

1,000,000

Virgin Islands Transportation & Infrastructure Corporation,

Virgin Islands, Grant Anticipation Revenue Bonds, Federal

Highway Grant Anticipation Revenue Loan Note, Series 2025

.000

09/01/29

1,060,003

1,655,000

Virgin Islands Transportation & Infrastructure Corporation,

Virgin Islands, Grant Anticipation Revenue Bonds, Federal

Highway Grant Anticipation Revenue Loan Note, Series 2025

.000

09/01/31

1,791,055

1,250,000

Virgin Islands Transportation & Infrastructure Corporation,

Virgin Islands, Grant Anticipation Revenue Bonds, Federal

Highway Grant Anticipation Revenue Loan Note, Series 2025

.000

09/01/44

1,291,494

TOTAL VIRGIN ISLANDS

5,262,500

VIRGINIA - 1.6%

6,000,000

Roanoke Economic Development Authority, Virginia, Hospital

Revenue Bonds, Carilion Clinic Obligated Group, Series

2020D, (Mandatory Put 7/01/30)

.000

07/01/53

6,513,143

4,010,000

Tobacco Settlement Financing Corporation of Virginia, Tobacco

Settlement Asset Backed Bonds, Series 2007B1

.000

06/01/47

3,414,806

5,000,000

Virginia College Building Authority, Educational Facilities

Revenue Bonds, 21st Century College & Equipment Programs,

Series 2022A

.000

02/01/40

5,368,790

10,000,000

(g) Virginia Housing Development Authority, Rental Housing

Bonds, Series 2024A, (UB)

.450

09/01/44

10,036,146

2,070,000

Virginia Port Authority, Commonwealth Port Fund Revenue

Bonds, Series 2023A

.000

07/01/42

2,211,406

2,000,000

(c) Virginia Small Business Finance Authority, Educational Facilities

Revenue Bonds, Provident Resource Group - Rixey Student

Housing Project, Series 2019A

.500

07/01/49

1,609,780

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VIRGINIA

(continued)

$

3,500,000

Virginia Small Business Finance Authority, Healthcare Facilities

Revenue Bonds, Mary Washington Healthcare, Refunding

Series 2025A-1

.250

%

06/15/50

$

3,643,887

2,600,000

Virginia Small Business Finance Authority, Healthcare Facilities

Revenue Bonds, Mary Washington Healthcare, Refunding

Series 2025A-1

.250

06/15/55

2,689,670

2,180,000

Virginia Small Business Financing Authority, Private Activity

Revenue Bonds, Transform 66 P3 Project, Senior Lien Series

2017, (AMT)

.000

12/31/47

2,151,549

13,250,000

Virginia Small Business Financing Authority, Private Activity

Revenue Bonds, Transform 66 P3 Project, Senior Lien Series

2017, (AMT)

.000

12/31/52

12,936,627

4,060,000

Virginia Small Business Financing Authority, Revenue Bonds,

National Senior Campuses Inc Obligated Group, Series 2020A

.000

01/01/40

3,864,887

5,695,000

Virginia Small Business Financing Authority, Revenue Bonds,

National Senior Campuses Inc Obligated Group, Series 2020A

.000

01/01/45

5,044,797

TOTAL VIRGINIA

59,485,488

WASHINGTON - 2.5%

5,500,000

King County Public Hospital District 4, Washington, General

Obligation Bonds, Snoqualmie Valley Hospital, Refunding

Limited Tax Series 2015A

.000

12/01/38

5,499,259

4,735,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

06/01/43

4,918,054

4,795,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

06/01/44

4,963,496

5,510,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

06/01/45

5,693,842

3,320,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

06/01/46

3,430,743

5,590,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2017C, (AMT)

.000

05/01/30

5,742,314

4,000,000

Skagit County Public Hospital District 1, Washington, Revenue

Bonds, Skagit Valley Hospital, Refunding & Improvement Series

2016

.000

12/01/32

4,048,752

1,120,000

Skagit County Public Hospital District 1, Washington, Revenue

Bonds, Skagit Valley Hospital, Refunding & Improvement Series

2016

.000

12/01/37

1,124,926

1,400,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/40

1,550,633

1,700,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/41

1,858,366

2,000,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/42

2,164,273

1,150,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/43

1,235,725

1,100,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/44

1,175,035

1,500,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/45

1,596,566

3,630,000

Washington Health Care Facilities Authority, Revenue Bonds,

CommonSpirit Health, Series 2019A-1

.000

08/01/44

3,243,160

2,960,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Health & Services, Series 2014D

.000

10/01/41

2,961,104

3,090,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/33

3,148,004

3,470,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/34

3,527,571

2,695,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/35

2,728,160

1,155,000

(c) Washington State Housing Finance Commission, Nonprofit

Refunding Revenue Bonds, Wesley Homes at Lea Hill Project,

Series 2016

.000

07/01/41

1,057,661

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WASHINGTON

(continued)

$

2,000,000

(c) Washington State Housing Finance Commission, Nonprofit

Refunding Revenue Bonds, Wesley Homes at Lea Hill Project,

Series 2016

.000

%

07/01/46

$

1,720,944

3,805,000

(c) Washington State Housing Finance Commission, Nonprofit

Refunding Revenue Bonds, Wesley Homes at Lea Hill Project,

Series 2016

.000

07/01/51

3,159,395

2,240,000

Washington State Housing Finance Commission, Revenue

Bonds, Riverview Retirement Community, Refunding Series

2012

.000

01/01/48

2,036,988

13,951,157

Washington State Housing Finance Commission, Social

Municipal Certificates Multifamily Revenue Bonds, Series 2023-

1 Class A

.375

04/20/37

12,971,682

4,540,000

Washington State, General Obligation Bonds, Various Purpose

Series 2022A

.000

08/01/44

4,745,324

6,635,000

Washington State, General Obligation Bonds, Various Purpose

Series 2023A

.000

08/01/43

6,990,966

TOTAL WASHINGTON

93,292,943

WEST VIRGINIA - 0.2%

550,000

(c) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35)

.450

01/01/55

573,987

1,500,000

West Virginia Hospital Finance Authority, Hospital Revenue

Bonds, Charleston Area Medical Center, Refunding &

Improvement Series 2019A

.000

09/01/31

1,581,563

1,800,000

West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System, Improvement Series 2023A

.000

06/01/38

1,944,579

1,000,000

West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System, Improvement Series 2023A

.000

06/01/39

1,071,139

1,715,000

West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System, Improvement Series 2023A

.000

06/01/41

1,806,983

TOTAL WEST VIRGINIA

6,978,251

WISCONSIN - 4.4%

1,745,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Cornerstone Charter Academy, North Carolina, Series

2016A

.000

02/01/36

1,748,355

815,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Eno River Academy Project, Series 2020A

.000

06/15/40

796,459

200,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Founders Academy of Las Vegas, Series 2020A

.000

07/01/55

169,934

720,000

(c),(h)

Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North Carolina Charter Educational Foundation Project,

Series 2016A, (Pre-refunded 6/15/26)

.000

06/15/46

731,080

1,430,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North Carolina Charter Educational Foundation Project,

Series 2016A

.000

06/15/46

1,123,288

1,100,000

Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North East Carolina Preparatory School Project,

Refunding Series 2024A

.250

06/15/54

1,091,355

10,952

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/47

9,573

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/48

9,420

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/49

9,114

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/50

8,961

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/51

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

11,641

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

%

01/01/52

$

11,488

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/53

11,105

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/54

10,876

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/55

10,646

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/56

579,414

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.500

07/01/56

421,562

11,795

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/57

11,488

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/58

11,182

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/59

10,952

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/60

10,799

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/61

10,493

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/62

10,263

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/63

10,033

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/64

9,880

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/65

10,646

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/66

128,214

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/67

1,066

26,928

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/46

903

26,549

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/47

819

26,359

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/48

764

26,169

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/49

710

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

25,790

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

%

01/01/50

$

646

28,255

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/51

666

714,815

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.750

07/01/51

486,425

28,066

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/52

612

27,687

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/53

569

27,497

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/54

529

27,118

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/55

26,738

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/56

26,549

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/57

26,169

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/58

25,980

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/59

25,790

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/60

25,411

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/61

25,221

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/62

24,842

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/63

24,652

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/64

24,463

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/65

24,083

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/66

313,660

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/67

2,608

2,000,000

(c) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Bonnie Cone Classical Academy, Series 2024

.625

06/15/54

1,697,798

5,730,000

(c) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Bonnie Cone Classical Academy, Series 2024

.625

06/15/59

4,749,236

1,650,000

(c) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Carolina International School, Series 2013A

.000

08/01/43

1,651,206

#### Portfolio of Investments September 30, 2025
(continued)

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

2,000,000

Public Finance Authority of Wisconsin, Educational Facility

Revenue Bonds, Cornerstone Charter Academy Series 2024

.000

%

02/01/64

$

1,888,388

3,845,000

Public Finance Authority of Wisconsin, Exempt Facilities

Revenue Bonds, National Gypsum Company Project, Refunding

Series 2016, (AMT)

.000

08/01/35

3,718,493

14,000,000

(c) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream Meadowlands Project,

Series 2017

.750

12/01/42

11,200,000

5,000,000

Public Finance Authority of Wisconsin, Pollution Control

Revenue Bonds, Duke Energy Progress Project, Refunding

Series 2022B, (Mandatory Put 10/01/30)

.000

10/01/46

5,151,941

2,735,000

(c),(e)

Public Finance Authority of Wisconsin, Revenue Bonds,

Alabama Gulf Coast Zoo, Series 2018A

.500

09/01/48

1,641,000

2,750,000

Public Finance Authority of Wisconsin, Revenue Bonds, Sky

Harbour LLC Obligated Group Aviation Facilities Project, Series

2021, (AMT)

.250

07/01/54

2,289,665

1,360,000

(c),(e)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.250

01/01/38

612,000

4,065,000

(c),(e)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.375

01/01/48

1,829,250

1,000,000

(c),(e)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018B-2

.000

01/01/49

500

4,300,000

Public Finance Authority of Wisconsin, Solid Waste Disposal

Revenue Bonds, Waste Management Inc., Refunding Series

2016A-2

.875

05/01/27

4,246,594

10,050,000

(c) Public Finance Authority, Wisconsin, Educational Revenue

Bonds, Lake Norman Charter School, Series 2018A

.000

06/15/38

10,049,366

3,360,000

(c) Public Finance Authority, Wisconsin, Educational Revenue

Bonds, Lake Norman Charter School, Series 2018A

.000

06/15/48

3,255,875

2,900,000

Public Finance Authority, Wisconsin, Educational Revenue

Bonds, Lake Norman Charter School, Series 2024A

.000

06/15/64

2,755,801

7,000,000

Public Finance Authority, Wisconsin, Exempt Facilities Revenue

Bonds, Celanese Project, Refunding Series 2016C

.300

11/01/30

7,009,084

3,525,000

(c) Public Finance Authority, Wisconsin, Tax Increment Revenue

Senior Bonds, World Center Project Series 2024A

.000

06/01/41

3,547,658

1,465,000

(c) Public Finance Authority, Wisconsin, Tax Increment Revenue

Subordinate Bonds, World Center Project Series 2024B

.000

06/15/42

1,476,587

15,000,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

06/30/60

15,434,488

11,155,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

12/31/65

11,478,115

6,495,000

(h) Wisconsin Center District, Dedicated Tax Revenue Bonds,

Supported by State Moral Obligation Junior Series 2020D,

(Pre-refunded 12/15/30)

.000

12/15/60

1,694,601

27,005,000

Wisconsin Center District, Dedicated Tax Revenue Bonds,

Supported by State Moral Obligation Junior Series 2020D -

AGM Insured

.000

12/15/60

4,806,669

18,000,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Mercy Alliance, Inc., Series 2012

.000

06/01/32

18,043,461

7,500,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Children's Hospital of Wisconsin,

Inc., Series 2017

.000

08/15/42

7,098,233

650,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Dickson Hollow Phase 2 Project,

Series 2024

.450

10/01/39

668,400

1,880,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Dickson Hollow Project. Series

2014

.250

10/01/39

1,879,973

1,000,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Dickson Hollow Project. Series

2014

.375

10/01/44

967,152

3,500,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Dickson Hollow Project. Series

2014

.500

10/01/49

3,352,335

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

6,000,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Froedtert Health, Inc. Obligated

Group, Series 2017A

.000

%

04/01/39

$

5,813,098

2,980,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Rogers Memorial Hospital, Inc.,

Series 2014A

.000

07/01/34

2,981,238

2,100,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Rogers Memorial Hospital, Inc.,

Series 2014A

.350

07/01/36

2,086,251

5,000,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Woodland Hills Senior Housing

Project, Series 2014

.000

12/01/34

4,926,858

4,435,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Woodland Hills Senior Housing

Project, Series 2014

.000

12/01/44

3,777,612

4,225,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Woodland Hills Senior Housing

Project, Series 2014

.250

12/01/49

3,606,315

TOTAL WISCONSIN

163,971,441

TOTAL MUNICIPAL BONDS

(Cost $3,781,235,754)

3,774,212,377

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VARIABLE RATE SENIOR LOAN INTERESTS - 0.0%

CAPITAL GOODS - 0.0%

321,690

(e),(i)

KDC Agribusiness Fairless Hills LLC

.000

09/17/26

TOTAL CAPITAL GOODS

TOTAL VARIABLE RATE SENIOR LOAN INTERESTS

(Cost $321,690)

TOTAL LONG-TERM INVESTMENTS

(Cost $3,799,235,194)

3,791,663,409

BORROWINGS - (0.4)% (k)

(13,130,119)

FLOATING RATE OBLIGATIONS - (3.3)%

(122,385,000)

OTHER ASSETS & LIABILITIES, NET - 1.9%

68,083,095

NET ASSETS - 100%

$

3,724,231,385

AMT

Alternative Minimum Tax

ETF

Exchange-Traded Fund

ETM

Escrowed to maturity

UB

Underlying bond of an inverse floating rate trust reflected as a financing transaction. Inverse floating rate trust is a Recourse Trust

unless otherwise noted.

(a) Affiliated holding

(b) Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.

(c) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the fiscal period, the aggregate value of these securities is $390,365,990 or 10.3% of Total Investments.

(d) When-issued or delayed delivery security.

(e) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of

bankruptcy.

(f) 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 fiscal period.

(g) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives

and/or inverse floating rate transactions.

(h) 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.

(i) For fair value measurement disclosure purposes, investment classified as Level 3.

(j) Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of

the security. Coupon rate reflects the rate at period end.

(k) Borrowings as a percentage of Total Investments is 0.3%.

#### Portfolio of Investments September 30, 2025

#### Intermediate Duration
See Notes To Financial Statements

(Unaudited)

SHARES

DESCRIPTION

VALUE

LONG-TERM INVESTMENTS - 97.5%

8,725,500

EXCHANGE-TRADED FUNDS - 0.1%

8,725,500

350,000

(a),(b)

Nuveen Municipal Income ETF

$

8,725,500

TOTAL EXCHANGE-TRADED FUNDS

(Cost $8,602,500)

8,725,500

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MORTGAGE-BACKED SECURITIES - 0.5%

–

$

3,487,513

(c),(d)

Federal Home Loan Mortgage Corporation, Multifamily

Variable Rate Certificates Guaranteed Structured Pass Through

Class A Series 2024ML-023, Series 2024 ML23

.700

%

04/25/42

3,536,707

13,002,545

Federal Home Loan Mortgage Corporation, Notes, Series 2023

23-ML15

.140

01/25/40

12,778,445

4,589,318

Federal Home Loan Mortgage Corporation, Notes, Series 2022

M068

.150

10/15/36

4,082,497

4,956,884

Freddie Mac Multi-Family ML Certificates, Series ML 08, Series

2021, Series 2021 21-ML08

.877

07/25/37

4,033,656

7,857,921

Freddie Mac Multi-Family ML Certificates, Series ML 10, Series

2021, Series 2021 ML10

.032

01/25/38

6,358,522

4,702,517

Freddie Mac Multi-Family ML Certificates, Series ML 22 Class

A-US, Series 2024, Series 2024 ML22

.685

10/25/40

4,830,550

4,414,295

(c) FRETE 2025-ML30 Trust, Series 2025 ML30

.783

07/25/42

4,550,514

TOTAL MORTGAGE-BACKED SECURITIES

(Cost $43,664,964)

40,170,891

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

7984295569

MUNICIPAL BONDS - 96.9%

7984295569

ALABAMA - 2.5%

1,860,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2024B

.250

10/01/39

1,871,333

3,530,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2024B

.550

10/01/44

3,536,808

1,360,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2024C

.450

10/01/44

1,348,060

4,175,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2024D

.300

10/01/44

4,095,601

1,500,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2025B

.800

10/01/40

1,546,309

7,630,000

Alabama State Port Authority, Docks Facilities Revenue Bonds,

Refunding Series 2017A - AGM Insured, (AMT)

.000

10/01/31

7,855,019

5,080,000

Birmingham-Jefferson Civic Center Authority, Alabama, Special

Tax Bonds, Series 2018A

.000

07/01/37

5,094,658

2,880,000

Birmingham-Jefferson Civic Center Authority, Alabama, Special

Tax Bonds, Series 2018B

.000

07/01/37

2,957,408

3,765,000

(e) Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Project 4 Series 2019A-1, (Pre-refunded 12/01/25),

(Mandatory Put 12/01/25)

.000

12/01/49

3,777,704

6,815,000

Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Project 8 Series 2022A, (Mandatory Put 12/01/29)

.000

12/01/52

6,969,135

3,000,000

Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Series 2022F, (Mandatory Put 12/01/28)

.500

11/01/53

3,200,551

4,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2023C, (Mandatory Put 6/01/32)

.500

10/01/54

4,425,281

2,725,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2024C, (Mandatory Put 7/01/31)

.000

05/01/55

2,958,974

12,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025A, (Mandatory Put 5/01/32)

.250

05/01/56

12,488,863

9,900,000

(f) Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025D, (Mandatory Put 8/01/35)

.000

12/01/55

10,850,823

4,930,000

Black Belt Energy Gas District, Alabama, Gas Supply Revenue

Bonds, Series 2022 Sub D-1, (Mandatory Put 6/01/27)

.000

07/01/52

5,017,907

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ALABAMA

(continued)

$

5,000,000

Black Belt Energy Gas District, Alabama, Gas Supply Revenue

Bonds, Series 2023 Sub B-2, (Mandatory Put 12/01/30)

.250

%

12/01/53

$

5,447,387

1,045,000

Chatom Industrial Development Board, Alabama, Gulf

Opportunity Zone Revenue Bonds, PowerSouth Energy

Cooperative, Refunding Series 2020 - AGM Insured

.000

08/01/26

1,062,123

1,000,000

Chatom Industrial Development Board, Alabama, Gulf

Opportunity Zone Revenue Bonds, PowerSouth Energy

Cooperative, Refunding Series 2020 - AGM Insured

.000

08/01/28

1,057,726

1,000,000

Chatom Industrial Development Board, Alabama, Gulf

Opportunity Zone Revenue Bonds, PowerSouth Energy

Cooperative, Refunding Series 2020 - AGM Insured

.000

08/01/30

1,092,094

5,915,000

Lower Alabama Gas District, Alabama, Goldman Sachs Gas

Project 2 Revenue Bonds, Series 2020A, (Mandatory Put

12/01/25)

.000

12/01/50

5,927,212

2,540,000

Mobile County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC

Project, Series 2024B, (AMT)

.750

12/01/54

2,351,281

2,235,000

(g) Montgomery Medical Clinic Board, Alabama, Health Care

Facility Revenue Bonds, Jackson Hospital & Clinic, Series 2015

.000

09/01/25

670,500

1,725,000

(g) Montgomery Medical Clinic Board, Alabama, Health Care

Facility Revenue Bonds, Jackson Hospital & Clinic, Series 2015

.000

03/01/26

517,500

2,060,000

Selma Industrial Development Board, Alabama, Gulf

Opportunity Zone Revenue Bonds, International Paper

Company Project, Refunding Series 2019A, (Mandatory Put

10/01/31)

.450

11/01/33

2,072,845

5,675,000

Southeast Alabama Gas Supply District, Alabama, Gas Supply

Revenue Bonds, Project 1, Refunding Series 2024A, (Mandatory

Put 4/01/32)

.000

08/01/54

6,151,167

1,000,000

Southeast Alabama Gas Supply District, Alabama, Gas Supply

Revenue Bonds, Project 2, Refunding Series 2024B, (Mandatory

Put 5/01/32)

.000

06/01/49

1,084,732

10,000,000

Southeast Energy Authority, Alabama, A Cooperative District

Energy Supply Revenue Bonds Series 2024A

.000

11/01/35

10,548,766

10,000,000

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 2, Series 2021B-1, (Mandatory Put

12/01/31)

.000

12/01/51

10,252,143

1,820,000

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 3, Fixed Rate Series 2022A-1,

(Mandatory Put 12/01/29)

.500

01/01/53

1,977,109

15,010,000

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 4, Series 2022B-1, (Mandatory Put

8/01/28)

.000

05/01/53

15,754,601

4,025,000

Southeast Energy Authority, Alabama, Energy Supply Revenue

Bonds, Cooperative District Series 2025C, (Mandatory Put

2/01/31)

.000

05/01/55

4,348,691

21,395,000

Southeast Energy Authority, Alabama, Revenue Bonds

Cooperative District Energy Supply Series 2024C, (Mandatory

Put 11/01/32)

.000

10/01/55

23,350,991

6,075,000

Southeast Energy Authority, Alabama, Revenue Bonds, A

Cooperative District Energy Supply Series 2025D

.000

09/01/35

6,691,060

5,345,000

Southeast Energy Authority, Alabama, Revenue Bonds,

Cooperative District Energy Supply Series 2025A, (Mandatory

Put 6/01/35)

.000

01/01/56

5,647,236

3,500,000

Southeast Energy Authority, Alabama, Revenue Bonds,

Cooperative District Energy Supply Series 2025B, (Mandatory

Put 1/01/33)

.250

03/01/55

3,743,647

4,250,000

(d) Tuscaloosa County Industrial Development Authority,

Alabama, Gulf Opportunity Zone Bonds, Hunt Refining Project,

Refunding Series 2019A

.250

05/01/44

4,239,803

10,000,000

West Jefferson, Alabama, Industrial Development Board

Pollution Control Revenue Bonds, Alabama Power Company,

Refunding Series 1998, (Mandatory Put 1/21/09)

.650

06/01/28

10,185,165

TOTAL ALABAMA

202,168,213

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ALASKA - 0.2%

$

5,015,000

Alaska Housing Finance Corporation, Collateralized Mortgage

Bonds, Veterans Mortgage Program, 2024 First Series

.000

%

12/01/41

$

4,908,688

4,000,000

Alaska Housing Finance Corporation, General Obligation

Bonds, State Capital Project II, Series 2024A

.000

12/01/39

4,307,162

1,900,000

Alaska Housing Finance Corporation, Mortgage Revenue

Bonds, General Series 2022A-II

.350

12/01/39

1,544,439

1,575,000

Northern Tobacco Securitization Corporation, Alaska, Tobacco

Settlement Asset-Backed Bonds, Senior Series 2021A Class 1

.000

06/01/28

1,652,196

TOTAL ALASKA

12,412,485

ARIZONA - 1.1%

1,030,000

Arizona Board of Regents, Univeristy of Arizona, SPEED

Revenue Bonds, Stimulus Plan for Economic and Educational

Development, Series 2020C. Forward Delivery

.000

08/01/26

1,050,990

3,000,000

Arizona Industrial Development Authority, Single Family

Mortgage Revenue Bonds, Series 2024A

.500

04/01/44

2,976,727

1,140,000

Arizona Industrial Development Authority, Single Family

Mortgage Revenue Bonds, Series 2025A

.000

10/01/45

1,169,130

16,915,000

(e) Arizona State, Certificates of Participation, Refunding Series

2019A, (ETM)

.000

10/01/27

17,799,817

2,330,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2007, (AMT), (Mandatory Put 6/15/28)

.100

12/01/37

2,345,003

2,010,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2019, (AMT), (Mandatory Put 6/01/29)

.000

06/01/49

2,052,685

22,840,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2022-2, (AMT), (Mandatory Put 9/01/27)

.000

09/01/52

23,231,308

775,000

Glendale Industrial Development Authority, Arizona, Revenue

Bonds, Midwestern University, Refunding Series 2020

.000

05/15/26

780,980

1,000,000

Glendale Union High School District 205, Maricopa County,

Arizona, General Obligation Bonds, School Improvement,

Project 2024, Series 2024A

.000

07/01/42

1,068,463

1,875,000

Maricopa County and Phoenix City Industrial Development

Authority, Arizona, Single Family Mortgage Revenue Bonds,

Series 2024C

.625

09/01/44

1,897,249

890,000

(d) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Legacy Traditional Schools Projects,

Series 2021A

.000

07/01/41

783,799

1,950,000

(d) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Legacy Traditional Schools Projects,

Taxable Series 2019B

.000

07/01/39

1,967,880

460,000

Maricopa County Industrial Development Authority, Arizona,

Hospital Revenue Bonds, HonorHealth, Series 2021A

.000

09/01/27

480,356

2,080,000

Maricopa County Pollution Control Corporation, Arizona,

Pollution Control Revenue Bonds, El Paso Electric Company,

Refunding Series 2009A

.600

02/01/40

1,878,381

1,500,000

Maricopa County Unified School District 69 Paradise Valley,

Arizona, General Obligation Bonds, School Improvement

Project of 2023, Series 2025A

.000

07/01/30

1,674,809

1,000,000

Mesa, Arizona, Utility System Revenue Bonds, Series 2025

.000

07/01/44

957,127

3,615,000

Northern Arizona University, Revenue Bonds, SPEED - Stimulus

Plan Economic Educational Development Fund, Refunding

Series 2020B - AGM Insured

.000

08/01/26

3,692,291

4,220,000

Northern Arizona University, Revenue Bonds, SPEED - Stimulus

Plan Economic Educational Development Fund, Refunding

Series 2020B - AGM Insured

.000

08/01/27

4,409,719

3,975,000

Northern Arizona University, Revenue Bonds, SPEED - Stimulus

Plan Economic Educational Development Fund, Refunding

Series 2020B - AGM Insured

.000

08/01/28

4,246,987

705,000

Paradise Valley Unified School District No. 69, Maricopa

County, Arizona, General Obligation Bonds, School

Improvement Project of 2019, Series 2022D

.000

07/01/37

777,674

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

1,200,000

Pima County Unified School District 1, Tucson, Arizona, General

Obligation Bonds, Project of 2023 School Improvement Series

2024A - AGM Insured

.000

%

07/01/36

$

1,350,327

1,160,000

Pinal County, Arizona, Pledged Revenue Obligations,

Refunding Series 2025 - BAM Insured

.000

08/01/34

1,342,400

835,000

Pinal County, Arizona, Pledged Revenue Obligations, Series

2025 - BAM Insured

.000

08/01/34

966,297

1,250,000

Pinal County, Arizona, Pledged Revenue Obligations, Series

2025 - BAM Insured

.000

08/01/36

1,431,103

1,235,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.000

12/01/32

1,349,314

1,120,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.000

12/01/37

1,203,195

1,000,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/35

1,170,830

5,000,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/36

5,792,088

1,000,000

Tucson, Arizona, Water System Revenue Bonds, Obligations

Series 2024

.000

07/01/41

1,094,109

1,000,000

Tucson, Arizona, Water System Revenue Bonds, Obligations

Series 2024

.000

07/01/42

1,084,178

TOTAL ARIZONA

92,025,216

ARKANSAS - 0.8%

3,140,000

(d) Arkansas Development Finance Authority, Arkansas,

Environmental Improvement Revenue Bonds, United States

Steel Corporation, Green Series 2022, (AMT)

.450

09/01/52

3,139,322

1,165,000

Arkansas Development Finance Authority, Arkansas,

Environmental Improvement Revenue Bonds, United States

Steel Corporation, Green Series 2023, (AMT)

.700

05/01/53

1,183,362

14,355,000

(d) Arkansas Development Finance Authority, Industrial

Development Revenue Bonds, Big River Steel Project, Series

2019, (AMT)

.500

09/01/49

13,772,141

1,785,000

(d) Arkansas Development Finance Authority, Industrial

Development Revenue Bonds, Big River Steel Project, Series

2020A, (AMT)

.750

09/01/49

1,726,298

11,415,000

Arkansas Development Finance Authority, Revenue Bonds,

Baptist Memorial Health Care, Refunding Series 2020B-2,

(Mandatory Put 9/01/27)

.000

09/01/44

11,755,838

165,000

Arkansas Development Finance Authority, Single Family

Mortgage Revenue Bonds, Mortgage-Backed Securities

Program, Series 2024A

.100

07/01/39

163,866

1,220,000

Arkansas Development Finance Authority, Single Family

Mortgage Revenue Bonds, Mortgage-Backed Securities

Program, Series 2024A

.450

07/01/44

1,209,815

2,750,000

Arkansas Development Finance Authority, Single Family

Mortgage Revenue Bonds, Mortgage-Backed Securities

Program, Series 2025A

.600

07/01/45

2,743,434

610,000

Arkansas State University, Student Fee Revenue Bonds,

Jonesboro Campus, Refunding Series 2024B

.000

12/01/37

672,498

620,000

Arkansas State University, Student Fee Revenue Bonds,

Jonesboro Campus, Refunding Series 2024B

.000

12/01/38

678,201

670,000

Arkansas State University, Student Fee Revenue Bonds,

Jonesboro Campus, Refunding Series 2024B

.000

12/01/39

727,187

705,000

Arkansas State University, Student Fee Revenue Bonds,

Jonesboro Campus, Refunding Series 2024B

.000

12/01/40

757,334

2,305,000

Hot Springs School District 6, Garland County, Arkansas,

General Obligation Bonds, Refunding Series 2021

.000

06/01/29

2,188,181

2,500,000

Hot Springs School District 6, Garland County, Arkansas,

General Obligation Bonds, Refunding Series 2021

.000

06/01/30

2,337,573

2,905,000

Hot Springs School District 6, Garland County, Arkansas,

General Obligation Bonds, Refunding Series 2021

.000

06/01/31

2,661,027

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARKANSAS

(continued)

$

325,000

Little Rock, Arkansas, General Obligation Bonds, Capital

Improvement Series 2022A

.875

%

02/01/43

$

324,588

1,610,000

Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax

Bonds, Series 2014

.000

07/01/26

1,612,563

1,500,000

Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax

Bonds, Series 2014

.000

07/01/28

1,504,425

1,935,000

Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax

Bonds, Series 2014

.000

07/01/29

1,940,676

1,005,000

Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax

Bonds, Series 2014

.000

07/01/30

1,007,931

4,595,000

Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax

Bonds, Series 2014

.000

07/01/34

4,608,176

855,000

Pulaski County Public Facilities Board, Arkansas, Healthcare

Revenue Bonds, Baptist Health, Series 2014

.000

12/01/25

856,404

715,000

Pulaski County Public Facilities Board, Arkansas, Healthcare

Revenue Bonds, Baptist Health, Series 2014

.000

12/01/27

716,106

1,245,000

University of Arkansas, Fayetteville, Various Facilities Revenue

Bonds, Refunding & Improvement Series 2019A

.000

11/01/34

1,327,409

1,265,000

University of Arkansas, Fayetteville, Various Facilities Revenue

Bonds, Refunding & Improvement Series 2019A

.000

11/01/35

1,342,984

1,000,000

University of Arkansas, Various Facilities Revenue Bonds, UAMS

Campus, Refunding Series 2025

.000

09/01/32

1,142,545

TOTAL ARKANSAS

62,099,884

CALIFORNIA - 4.2%

5,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023C,

(Mandatory Put 10/01/31)

.250

01/01/54

5,336,908

5,170,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023F,

(Mandatory Put 11/01/30)

.500

10/01/54

5,663,958

12,370,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024B,

(Mandatory Put 12/01/32)

.000

01/01/55

13,106,791

11,020,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024C,

(Mandatory Put 10/01/32)

.000

08/01/55

11,887,043

9,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024D,

(Mandatory Put 9/01/32)

.000

02/01/55

9,887,096

8,860,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024H,

(Mandatory Put 8/01/33)

.000

01/01/56

9,890,793

7,550,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025C,

(Mandatory Put 10/01/33)

.000

12/01/55

8,108,930

12,800,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025D,

(Mandatory Put 7/01/34)

.000

10/01/55

13,775,844

1,430,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/30

1,534,924

1,310,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/32

1,388,652

635,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/33

668,383

350,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/34

350,132

2,190,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/36

2,154,401

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

3,000,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

%

06/01/38

$

2,887,098

1,580,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/40

1,484,431

5,975,000

California Educational Facilities Authority, Revenue Bonds,

Stanford University Series 2025V-5, (Mandatory Put 3/01/35)

.000

03/01/55

7,044,538

1,205,000

California Health Facilities Financing Authority, Revenue Bonds,

Children's Hospital Los Angeles, Series 2017A

.000

08/15/35

1,219,826

1,345,000

California Health Facilities Financing Authority, Revenue Bonds,

Children's Hospital Los Angeles, Series 2017A

.000

08/15/36

1,358,310

14,162,959

California Housing Finance Agency, Municipal Certificate

Revenue Bonds, Class A Series 2021-2

.750

03/25/35

14,264,782

2,788,302

California Housing Finance Agency, Municipal Certificate

Revenue Bonds, Class A Series 2021-3

.250

08/20/36

2,661,279

4,135,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, California Academy of Sciences, San

Francisco, Series 2024A

.250

08/01/29

4,201,882

6,700,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, J Paul Getty Trust, Refunding Series 2020B-2,

(Mandatory Put 10/01/26)

.000

10/01/47

6,713,344

1,090,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, UCSF Clinical and Life Sciences Building,

Series 2025

.000

05/15/36

1,275,264

1,010,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, UCSF Clinical and Life Sciences Building,

Series 2025

.000

05/15/37

1,164,954

5,950,000

California Municipal Finance Authority, Revenue Bonds, Linxs

APM Project, Senior Lien Series 2018A - AGM Insured, (AMT)

.250

12/31/32

5,811,646

4,000,000

California Municipal Finance Authority, Revenue Bonds, Linxs

APM Project, Senior Lien Series 2018A, (AMT)

.000

12/31/33

4,093,063

5,000,000

California Municipal Finance Authority, Revenue Bonds, Linxs

APM Project, Senior Lien Series 2018A, (AMT)

.000

12/31/34

5,092,266

1,800,000

(c) California Municipal Finance Authority, Solid Waste Disposal

Revenue Bonds, Republic Services Inc. Project, Series 2021B,

(AMT), (Mandatory Put 1/15/26)

.850

07/01/51

1,799,232

2,600,000

California Municipal Finance Authority, Solid Waste Disposal

Revenue Bonds, Waste Management Inc., Series 2004, (AMT),

(Mandatory Put 12/01/25)

.100

12/01/44

2,601,213

2,590,000

(d) California Pollution Control Financing Authority Water

Furnishing Revenue Bonds (Poseidon Resources (Channelside)

LP Desalination Project), Series 2023 (AMT), (AMT)

.000

07/01/34

2,822,071

2,500,000

(d) California Pollution Control Financing Authority Water

Furnishing Revenue Bonds (Poseidon Resources (Channelside)

LP Desalination Project), Series 2023 (AMT), (AMT)

.000

07/01/35

2,699,398

2,500,000

(d) California Pollution Control Financing Authority Water

Furnishing Revenue Bonds (Poseidon Resources (Channelside)

LP Desalination Project), Series 2023 (AMT), (AMT)

.000

07/01/36

2,673,811

5,130,000

(c),(d)

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Republic Services Inc., Refunding

Series 2023, (AMT), (Mandatory Put 2/17/26)

.800

07/01/43

5,126,466

6,055,000

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Waste Management Inc., Refunding

Series 2015A-2, (AMT)

.625

07/01/27

6,055,593

12,330,000

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Waste Management, Inc. Project,

Refunding Series 2015B-1, (AMT)

.000

11/01/25

12,327,742

320,000

California State University, Systemwide Revenue Bonds, Series

2025A

.625

11/01/56

326,239

2,120,000

California State, General Obligation Bonds, Refunding Various

Purpose Series 2024

.000

09/01/43

2,292,914

15,000,000

California State, General Obligation Bonds, Various Purpose

Refunding Series 2025

.000

08/01/30

16,825,731

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

5,425,000

California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2014A

.250

%

12/01/29

$

5,430,769

1,500,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/27

1,519,400

2,695,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/31

2,721,072

4,200,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/36

4,215,869

6,180,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/41

6,182,318

885,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.000

12/01/28

914,253

2,530,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.000

12/01/33

2,586,596

3,790,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.250

12/01/38

3,837,017

4,900,000

Central Valley Energy Authority, California, Commodity Supply

Revenue Bonds, Series 2025, (Mandatory Put 8/01/35)

.000

12/01/55

5,369,297

6,000,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Escondido Portfolio, Social

Senior Lien Series 2021A-1

.000

06/01/48

4,256,947

6,605,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Monterrey Station

Apartments, Senior Lien Series 2021A-1

.000

07/01/43

5,061,420

4,070,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Pasadena Portfolio Social

Bond, Series 2021A-1

.650

12/01/46

3,397,508

5,145,000

CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Wood Creek Apartments,

Senior Lien Series 2021A-1

.000

12/01/49

3,434,382

1,430,000

El Dorado Union High School District, El Dorado County,

California, General Obligation Bonds, Series 2020 - AGM

Insured

.000

08/01/33

1,488,596

2,200,000

El Dorado Union High School District, El Dorado County,

California, General Obligation Bonds, Series 2020 - AGM

Insured

.000

08/01/34

2,285,297

7,715,000

Golden State Tobacco Securitization Corporation, California,

Tobacco Settlement Asset-Backed Bonds, Capital Appreciation

Series 2021B-2

.000

06/01/66

821,701

4,125,000

Golden State Tobacco Securitization Corporation, California,

Tobacco Settlement Asset-Backed Revenue Bonds, Series

2022A-1

.000

06/01/51

4,071,850

1,315,000

Grant Joint Union High School District, Sacramento County,

California, General Obligation Bonds, Capital Appreciation

Election 2006 Series 2008 - AGM Insured

.000

08/01/26

1,286,867

2,015,000

Las Virgenes Unified School District, Los Angeles County,

California, General Obligation Bonds, 2006 Election, Series

2009B

.000

08/01/27

1,930,400

5,000,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2025A

.000

07/01/28

5,265,749

2,340,000

Los Angeles Unified School District, Los Angeles County,

California, General Obligation Bonds, Refunding Series 2024A

.000

07/01/26

2,388,262

8,915,000

Los Angeles, California, General Obligation Bonds, Tax &

Revenue Anticipation Notes, Series 2025

.000

06/25/26

9,086,936

7,500,000

Los Angeles, California, Wastewater System Revenue Bonds,

Refunding Series 2025A

.000

06/01/37

8,732,875

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

1,830,000

Mount Diablo Unified School District, Contra Costa County,

California, General Obligation Bonds, Election of 2018 Series

2025C

.000

%

08/01/38

$

2,103,325

5,440,000

Mount San Antonio Community College District, Los Angeles

County, California, General Obligation Bonds, Election of 2008,

Series 2013A

.875

08/01/28

5,909,882

9,635,000

M-S-R Energy Authority, California, Gas Revenue Bonds,

Citigroup Prepay Contracts, Series 2009A

.125

11/01/29

10,196,109

7,670,000

M-S-R Energy Authority, California, Gas Revenue Bonds,

Citigroup Prepay Contracts, Series 2009C

.125

11/01/29

8,116,175

1,020,000

Orange County Local Transportation Authority, California,

Measure M2 Sales Tax Revenue Bonds, Refunding Limited Tax,

Series 2025

.000

02/15/35

1,221,832

8,040,000

Palomar Pomerado Health, California, General Obligation

Bonds, Convertible Capital Appreciation, Election 2004 Series

2010A

.750

08/01/40

8,520,518

5,355,000

Poway Unified School District, San Diego County, California,

General Obligation Bonds, School Facilities Improvement

District 2007-1, Series 2011A

.000

08/01/34

4,079,690

2,115,000

Riverside County Redevelopment Agency, California, Tax

Allocation Bonds, Jurupa Valley Project Area, Series 2011B

.000

10/01/34

1,552,732

2,000,000

Riverside County Redevelopment Agency, California, Tax

Allocation Bonds, Jurupa Valley Project Area, Series 2011B

.000

10/01/36

1,325,906

1,165,000

San Bernardino Community College District, California,

General Obligation Bonds, Election of 2008 Series 2025F

.000

08/01/45

435,441

6,100,000

San Bernardino Community College District, California,

General Obligation Bonds, Election of 2008 Series 2025F

.000

08/01/46

2,139,739

7,200,000

San Bernardino Community College District, California,

General Obligation Bonds, Election of 2008 Series 2025F

.000

08/01/47

2,373,936

5,000,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2023A, (AMT)

.000

05/01/27

5,173,082

3,000,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2024A, (AMT)

.000

05/01/29

3,214,065

1,730,000

Santa Barbara Community College District, California, General

Obligation Bonds, Election of 2024 Series 2025A

.000

08/01/43

749,316

3,000,000

Victor Valley Union High School District, San Bernardino

County, California, General Obligation Bonds, 20008 Election

Series 2009A - AGC Insured

.750

08/01/31

3,073,533

1,450,000

Washington Township Health Care District, California, Revenue

Bonds, Refunding Series 2015A

.250

07/01/27

1,449,148

1,435,000

Washington Township Health Care District, California, Revenue

Bonds, Refunding Series 2015A

.500

07/01/28

1,434,481

1,355,000

Washington Township Health Care District, California, Revenue

Bonds, Refunding Series 2015A

.750

07/01/29

1,355,134

TOTAL CALIFORNIA

349,286,373

COLORADO - 2.5%

6,185,000

Adams and Arapahoe Counties Joint School District 28J,

Aurora, Colorado, General Obligation Bonds, Series 2025

.500

12/01/37

7,361,961

5,695,000

Adams and Arapahoe Counties Joint School District 28J,

Aurora, Colorado, General Obligation Bonds, Series 2025

.500

12/01/38

6,706,622

3,810,000

Adams and Arapahoe Counties Joint School District 28J,

Aurora, Colorado, General Obligation Bonds, Series 2025

.500

12/01/39

4,448,541

2,955,000

Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2021

.250

12/01/41

2,558,366

1,600,000

(d) Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2024

.500

12/01/44

1,567,059

3,015,000

Arapahoe County School District 6, Littleton, Colorado,

General Obligation Bonds, Series 2019A

.500

12/01/32

3,274,427

1,250,000

Arapahoe County School District 6, Littleton, Colorado,

General Obligation Bonds, Series 2019A

.500

12/01/33

1,352,586

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

7,677,000

(d) Centerra Metropolitan District 1, Loveland, Colorado, Special

Revenue Bonds, Refunding & Improvement Series 2017

.000

%

12/01/29

$

7,698,284

1,115,000

Centerra Metropolitan District 1, Loveland, Colorado, Special

Revenue Bonds, Refunding & Improvement Series 2020A

.000

12/01/29

1,116,499

6,000,000

Cherry Creek School District 5, Arapahoe County, Colorado,

General Obligation Bonds, Series 2024

.250

12/15/44

6,558,319

11,210,000

Colorado Bridge Enterprise, Revenue Bonds, Central 70

Project, Senior Series 2017, (AMT)

.000

06/30/51

9,408,143

10,000

(d) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Loveland Classical Schools Project,

Series 2016

.750

07/01/26

9,998

6,495,000

(d) Colorado Educational and Cultural Facilities Authority, Cultural

Facilities Revenue Bonds, Stanley Project, Senior Lien Series

2025A-1

.500

02/01/45

6,693,715

1,910,000

Colorado Educational and Cultural Facilities Authority, Revenue

Bonds, Regis University Project, Refunding Series 2016

.000

10/01/25

1,910,000

1,235,000

Colorado Educational and Cultural Facilities Authority, Revenue

Bonds, Regis University Project, Refunding Series 2016

.000

10/01/30

1,136,924

1,715,000

Colorado Educational and Cultural Facilities Authority, Revenue

Bonds, Regis University Project, Refunding Series 2016

.125

10/01/31

1,395,293

5,000,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

AdventHealth Obligated Group, Series 2019A

.000

11/15/37

5,305,443

2,140,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

AdventHealth Obligated Group, Series 2024A, (Mandatory Put

11/15/29)

.000

11/15/59

2,326,787

3,255,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Adventist Health System/Sunbelt Obligated Group, Series

2018B, (Mandatory Put 11/20/25)

.000

11/15/48

3,264,888

4,710,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2019A-2

.000

08/01/36

4,917,582

33,615,000

Colorado Health Facilities Authority, Colorado, Revenue

Bonds, CommonSpirit Health, Series 2019B-2, (Mandatory Put

8/01/26)

.000

08/01/49

33,789,401

2,000,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2020A

.000

12/01/40

1,874,329

405,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2025A

.125

12/01/45

411,810

14,655,000

(e) Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Parkview Medical Center, Series 2016, (Pre-refunded 9/01/26)

.125

09/01/42

14,710,497

1,000,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

SCL Health System, Refunding Series 2019A

.000

01/01/36

1,005,304

2,755,000

Colorado Housing and Finance Authority, Single Family

Mortgage Bonds, Class I Series 2021E

.125

11/01/42

1,901,411

6,510,000

Colorado Housing and Finance Authority, Single Family

Mortgage Bonds, Class I Series 2021H

.000

05/01/42

4,408,733

14,130,000

Dawson Trails Metropolitan District 1, Colorado, In The

Town of Castle Rock, Limited Tax General Obligation Capital

Appreciation Turbo Bonds, Series 2024

.000

12/01/31

8,920,557

1,705,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022D, (AMT)

.750

11/15/34

1,963,382

875,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022D, (AMT)

.750

11/15/35

999,276

5,140,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2018A, (AMT)

.000

12/01/35

5,322,741

1,325,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2023B, (AMT)

.000

11/15/26

1,357,027

3,590,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2023B, (AMT)

.000

11/15/27

3,752,332

8,645,000

Denver City and County, Colorado, Special Facilities Airport

Revenue Bonds, United Airlines, Inc. Project, Refunding Series

2017, (AMT)

.000

10/01/32

8,647,465

1,500,000

Denver Convention Center Hotel Authority, Colorado, Revenue

Bonds, Convention Center Hotel, Refunding Senior Lien Series

2016

.000

12/01/31

1,523,135

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

500,000

Denver Convention Center Hotel Authority, Colorado, Revenue

Bonds, Convention Center Hotel, Refunding Senior Lien Series

2016

.000

%

12/01/32

$

506,998

645,000

Denver Convention Center Hotel Authority, Colorado, Revenue

Bonds, Convention Center Hotel, Refunding Senior Lien Series

2016

.000

12/01/33

653,090

3,000,000

Denver School District 1, Colorado, General Obligation Bonds,

Series 2025B

.000

12/01/27

3,169,532

1,730,000

(d) Denver Urban Renewal Authority, Colorado, Tax Increment

Revenue Bonds, 9th and Colorado Urban Redevelopement

Area, Series 2018A

.250

12/01/39

1,733,448

330,000

(d) Denver Urban Renewal Authority, Colorado, Tax Increment

Revenue Bonds, 9th and Colorado Urban Redevelopement

Area, Series 2018A

.250

12/01/39

330,473

1,000,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2024A

.000

09/01/40

1,087,679

5,900,000

(d) Falcon Area Water and Wastewater Authority (El Paso County,

Colorado), Tap Fee Revenue Bonds, Series 2022A

.750

12/01/34

5,918,649

635,000

Independence Water & Sanitation District, Elbert County,

Colorado, Special Revenue Bonds, Refunding and

Improvement Series 2024

.125

12/01/33

654,130

1,040,000

(d) Peak Metropolitan District 1, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Bonds, Series 2021A

.000

12/01/35

924,203

3,945,000

(h) Peak Metropolitan District 3, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Convertible Capital

Appreciation Bonds, Series 2022A-2

.000

12/01/42

2,670,411

750,000

Rampart Range Metropolitan District 5, Lone Tree, Douglas

County, Colorado, Limited Tax Supported and Special Revenue

Bonds, Series 2021

.000

12/01/36

714,096

600,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

01/15/28

624,163

550,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

07/15/28

576,748

750,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

01/15/29

792,602

500,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

07/15/29

532,391

555,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

01/15/30

595,198

445,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

07/15/30

480,484

1,035,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

01/15/31

1,123,427

3,400,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

07/15/40

3,218,100

2,100,000

Riverwalk Metropolitan District 2, Glendale, Arapahoe County,

Colorado, Special Revenue Bonds, Series 2022A

.500

12/01/32

1,972,346

9,095,000

Riverwalk Metropolitan District 2, Glendale, Arapahoe County,

Colorado, Special Revenue Bonds, Series 2022A

.000

12/01/42

8,079,322

1,000,000

Spring Mesa Metropolitan District, Jefferson County, Colorado,

General Obligation Bonds, Refunding Series 2015 - AGC

Insured

.750

12/01/44

914,664

600,000

Sterling Ranch Community Authority Board, Douglas County,

Colorado, Limited Tax Supported and Special Revenue Bonds,

Special District 4, Series 2024A

.125

12/01/39

621,133

730,000

Transport Metropolitan District 3, In the City of Aurora, Adams

County, Colorado, General Obligation Limited Bonds, Series

2021A-1

.000

12/01/41

618,468

1,025,000

West Globeville Metropolitan District 1, Denver, Colorado,

General Obligation Limited Tax Bonds, Series 2022

.250

12/01/32

1,033,890

TOTAL COLORADO

209,144,482

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CONNECTICUT - 1.7%

$

4,985,000

Connecticut Health and Educational Facilities Authority, Chefa

Revenue Bonds, Yale University, Remarketing Series 2017B-2,

(Mandatory Put 7/01/26)

.200

%

07/01/37

$

4,996,706

1,785,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

07/01/33

1,874,298

4,790,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

07/01/34

4,852,537

10,000,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

07/01/35

10,086,699

700,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Stamford Hospital, Series 2021L-1

.000

07/01/26

703,793

1,125,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Stamford Hospital, Series 2021L-1

.000

07/01/27

1,144,136

775,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Stamford Hospital, Series 2021L-1

.000

07/01/28

794,819

600,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Stamford Hospital, Series 2021L-1

.000

07/01/29

619,381

5,000,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Yale University, Remarketing Series 1999U

.000

07/01/33

5,817,563

10,275,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Yale University, Series 2014A, (Mandatory Put

2/10/26)

.800

07/01/48

10,267,604

10,685,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Yale University, Series 2016A-2, (Mandatory

Put 7/01/26)

.000

07/01/42

10,615,741

5,200,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Yale-New Haven Health Issue, Series 2024B,

(Mandatory Put 7/01/29)

.000

07/01/49

5,581,245

1,170,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2018D-1

.000

11/15/38

1,172,774

2,020,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2019B-1

.300

11/15/39

1,833,735

1,540,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2019E-1

.850

11/15/39

1,303,050

5,570,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2019F-1

.750

11/15/37

4,779,204

5,180,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020A-1

.450

05/15/38

4,224,037

3,025,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020A-1

.500

11/15/45

3,024,013

5,000,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020D-1

.350

11/15/40

3,821,330

2,850,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020E-1

.350

11/15/40

2,080,465

10,050,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020E-3

.850

05/15/38

7,325,108

11,105,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2021B-1

.100

11/15/40

8,016,637

22,870,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2021D-1

.300

11/15/41

16,918,851

1,025,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2025A-1

.500

11/15/45

1,033,451

2,000,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Sustainability Green Series 2024D-1

.550

11/15/44

2,027,567

2,150,000

Connecticut State, General Obligation Bonds, Refunding Series

2023B

.000

08/01/26

2,193,455

13,885,000

(f) Connecticut State, General Obligation Bonds, Refunding Series

2025D

.000

08/15/30

15,501,247

5,400,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2024B

.000

07/01/28

5,773,896

4,060,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2024B

.000

07/01/29

4,437,745

TOTAL CONNECTICUT

142,821,087

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

DELAWARE - 0.2%

$

2,535,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024A

.450

%

07/01/44

$

2,513,838

1,290,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024B

.200

07/01/39

1,289,170

695,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024B

.600

07/01/44

701,455

1,320,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024C

.450

07/01/44

1,308,981

2,080,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024D

.300

07/01/44

2,041,527

1,480,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025A

.200

07/01/40

1,489,619

4,775,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025B

.650

07/01/40

4,849,097

1,750,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Taxable Series 2025D

.750

07/01/40

1,800,369

3,145,000

Delaware State, General Obligation Bonds, Series 2025

.125

05/01/43

3,152,740

TOTAL DELAWARE

19,146,796

DISTRICT OF COLUMBIA - 1.6%

2,905,000

District of Columbia Student Dormitory Revenue Bonds,

Provident Group - Howard Properties LLC Issue, Series 2013

.000

10/01/30

2,905,559

143,565,000

District of Columbia Tobacco Settlement Corporation, Tobacco

Settlement Asset-Backed Bonds, Series 2006A

.000

06/15/46

32,793,275

18,585,000

District of Columbia Water and Sewer Authority, Public Utility

Revenue Bonds, Refunding Subordinate Lien Series 2014C

.000

10/01/41

18,172,179

3,190,000

District of Columbia, General Obligation Bonds, Series 2019A

.000

10/15/30

3,468,504

5,500,000

District of Columbia, General Obligation Bonds, Series 2024A

.000

08/01/41

5,956,743

9,165,000

District of Columbia, General Obligation Bonds, Series 2024A

.000

08/01/43

9,776,817

35,000

District of Columbia, General Obligation Bonds, Series 2024A

.000

08/01/49

36,535

7,000,000

District of Columbia, Revenue Bonds, Georgetown University,

Refunding Series 2025A, (Mandatory Put 4/03/35)

.000

04/01/60

7,837,199

1,250,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

Improvement Projects, Refunding First Senior Lien Series

2019A

.000

10/01/33

1,322,921

2,830,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

Improvement Projects, Refunding First Senior Lien Series

2019A

.000

10/01/34

2,983,473

1,625,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

Improvement Projects, Refunding First Senior Lien Series

2019A

.000

10/01/36

1,698,217

5,610,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2018A, (AMT)

.000

10/01/26

5,726,047

5,000,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2019A, (AMT)

.000

10/01/31

5,335,193

8,300,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2021A, (AMT)

.000

10/01/27

8,662,883

2,460,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2023A, (AMT)

.000

10/01/33

2,710,821

5,000,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2023A, (AMT)

.000

10/01/34

5,470,795

2,440,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2023A, (AMT)

.000

10/01/35

2,647,542

3,620,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2024A, (AMT)

.000

10/01/27

3,778,269

5,795,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2024A, (AMT)

.000

10/01/28

6,165,645

2,835,000

Washington Metropolitan Area Transit Authority, Dedicated

Revenue Bonds, Green Series 2021A

.000

07/15/27

2,960,220

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

DISTRICT OF COLUMBIA

(continued)

$

5,000,000

Washington Metropolitan Area Transit Authority, District of

Columbia, Gross Revenue Bonds, Series 2017B

.000

%

07/01/42

$

5,084,740

TOTAL DISTRICT OF COLUMBIA

135,493,577

FLORIDA - 3.8%

11,195,000

Broward County School Board, Florida, Certificates of

Participation, Series 2022A

.000

07/01/26

11,381,299

5,000,000

Broward County School Board, Florida, Certificates of

Participation, Series 2025A

.000

07/01/28

5,331,055

10,000,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2015A, (AMT)

.000

10/01/34

10,008,725

15,135,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2015A, (AMT)

.000

10/01/35

15,146,459

5,500,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2019A, (AMT)

.000

10/01/34

5,771,275

3,315,000

Broward County, Florida, Port Facilities Revenue Bonds, Series

2019B, (AMT)

.250

09/01/29

3,224,726

730,000

Cape Coral, Florida, Utility Improvement Assessment Bonds,

Refunding Various Areas Series 2017 - AGM Insured

.750

09/01/26

730,501

395,000

Cape Coral, Florida, Utility Improvement Assessment Bonds,

Refunding Various Areas Series 2017 - AGM Insured

.000

09/01/27

396,925

9,685,000

Cape Coral, Florida, Water and Sewer Revenue Bonds,

Refunding Series 2015

.000

10/01/32

9,700,340

7,325,000

Cape Coral, Florida, Water and Sewer Revenue Bonds,

Refunding Series 2015

.000

10/01/33

7,335,941

4,195,000

(d) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/35

4,182,864

160,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Classical Preparatory Incorporated

Project, Series 2017A

.000

06/15/27

160,868

1,155,000

Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Mater Academy Projects, Series

2020A

.000

06/15/35

1,170,881

1,000,000

(d) Florida Development Finance Corporation, Florida, Solid

Waste Disposal Revenue Bonds, GFL Solid Waste Southeast

LLC Project Series 2024A, (AMT), (Mandatory Put 10/01/31)

.375

10/01/54

1,010,172

6,250,000

Florida Development Finance Corporation, Florida, Solid

Waste Disposal Revenue Bonds, Waste Management, Inc.

Project, Series 2025A, (AMT), (Mandatory Put 9/01/28)

.400

09/01/50

6,250,163

4,720,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT), (Mandatory Put

7/15/28)

.000

07/15/32

2,944,100

22,000,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/38

18,550,059

12,715,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/41

10,748,995

3,570,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.250

07/01/47

3,039,824

5,000,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT)

.250

07/01/53

4,890,288

30,615,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Series

2025B, (AMT), (Mandatory Put 6/15/26)

.000

07/01/57

26,083,190

1,355,000

Florida Higher Educational Facilities Financing Authority,

Revenue Bonds, Nova Southeastern University Project,

Refunding Series 2016

.000

04/01/32

1,368,464

1,885,000

Florida Higher Educational Facilities Financing Authority,

Revenue Bonds, Nova Southeastern University Project,

Refunding Series 2016

.000

04/01/33

1,902,875

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

6,015,000

Florida Higher Educational Facilities Financing Authority,

Revenue Bonds, Nova Southeastern University Project,

Refunding Series 2016

.000

%

04/01/34

$

6,068,479

4,290,000

Florida Higher Educational Facilities Financing Authority,

Revenue Bonds, Nova Southeastern University Project,

Refunding Series 2016

.000

04/01/35

4,325,372

960,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2017-1

.600

07/01/37

944,444

1,915,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2018-2

.050

07/01/38

1,918,311

4,470,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2019-1

.000

07/01/39

3,962,909

7,550,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2024-5

.450

07/01/44

7,546,196

1,900,000

(f) Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2025-5

.600

07/01/40

1,911,166

7,890,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Social Series 2021-2

.050

07/01/41

5,873,335

14,720,000

Florida Municipal Power Agency, Power Supply Revenue

Bonds, All Requirements Project, Series 2025A

.000

10/01/34

16,662,385

3,730,000

Florida Municipal Power Agency, Power Supply Revenue

Bonds, All Requirements Project, Series 2025A

.000

10/01/35

4,179,938

1,980,000

Hillsborough County Industrial Development Authority, Florida,

Health System Revenue Bonds, BayCare Health System Series

2024C

.000

11/15/34

2,275,045

3,375,000

Hillsborough County, Florida, Solid Waste and Resource

Recovery Revenue Bonds, Refunding Series 2016A, (AMT)

.000

09/01/34

3,393,935

2,000,000

JEA, Florida, Electric System Revenue Bonds, Series Three

2024A

.000

10/01/30

2,232,132

5,195,000

JEA, Florida, Electric System Revenue Bonds, Subordinated

Series Three 2020A

.000

10/01/27

5,443,862

10,000,000

Miami Dade County, Florida, Professional Sports Franchise

Facilities Tax Revenue Bonds, Refunding Series 2009A - AGC

Insured

.000

10/01/45

3,845,333

5,060,000

Miami-Dade County Educational Facilities Authority, Florida,

Revenue Bonds, University of Miami, Series 2018A

.000

04/01/53

5,094,521

2,175,000

Miami-Dade County Expressway Authority, Florida, Toll System

Revenue Bonds, Refunding Series 2014B

.000

07/01/27

2,178,649

7,405,000

Miami-Dade County Industrial Development Authority, Florida,

Solid Waste Disposal Revenue Bonds, Waste Management Inc

Project, Series 2018B, (AMT), (Mandatory Put 7/01/26)

.000

11/01/48

7,404,830

3,000,000

Miami-Dade County, Florida, Aviation Revenue Bonds,

Refunding Series 2024A, (AMT)

.000

10/01/27

3,127,589

7,350,000

Miami-Dade County, Florida, Aviation Revenue Bonds,

Refunding Series 2024A, (AMT)

.000

10/01/29

7,922,520

11,365,000

Miami-Dade County, Florida, Aviation Revenue Bonds,

Refunding Series 2024A, (AMT)

.000

10/01/33

12,702,180

7,645,000

Orange County Health Facilities Authority Revenue Bonds,

Florida, Presbyterian Retirement Communities Obligated

Group Project Series 2023A

.000

08/01/36

7,440,082

4,010,000

Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th

Cent Contract Payments, Refunding Senior Series 2017A - AGM

Insured

.000

11/01/32

4,171,819

2,015,000

Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th

Cent Contract Payments, Refunding Senior Series 2017A - AGM

Insured

.000

11/01/34

2,086,835

1,000,000

Osceola County, Florida, Transportation Revenue Bonds,

Osceola Parkway, Refunding & Improvement Series 2019A-1

.000

10/01/49

1,003,643

6,190,000

Palm Beach County School Board, Florida, Certificates of

Participation, Series 2025A

.000

08/01/30

6,895,849

585,000

(d) Sawyers Landing Community Development District, Florida,

Special Assessment Revenue Bonds, Series 2021

.125

05/01/41

533,084

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

315,000

(d) Seminole County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, Galileo Schools for

Gifted Learning, Series 2021A

.000

%

06/15/36

$

295,522

425,000

(d) Seminole County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, Galileo Schools for

Gifted Learning, Series 2021A

.000

06/15/41

365,447

1,390,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/30

1,555,492

5,000,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/31

5,656,422

4,750,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/32

5,427,999

4,000,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/33

4,610,205

7,410,000

South Florida Water Management District, Certificates of

Participation, Series 2015

.000

10/01/33

7,468,039

1,890,000

Tampa, Florida, Capital Improvement Cigarette Tax Allocation

Bonds, H. Lee Moffitt Cancer Center Project, Series 2020A

.000

09/01/34

1,338,969

1,500,000

(d) Village Community Development District 15, Florida, Special

Assessment Revenue Bonds, Series 2024

.000

05/01/34

1,506,069

TOTAL FLORIDA

310,698,596

GEORGIA - 2.3%

1,000,000

(d) Atlanta Development Authority, Georgia, Revenue Bonds,

Westside Gulch Area Project, Senior Series 2024A-1

.000

04/01/34

1,014,057

4,150,000

Atlanta, Georgia, Airport General Revenue Bonds, Green Series

2025B-1, (AMT)

.000

07/01/33

4,646,400

7,000,000

Atlanta, Georgia, Airport Passenger Facilities Charge and

General Revenue Bonds, Subordinate Lien Green Series

2023E, (AMT)

.000

07/01/34

7,755,453

7,000,000

Atlanta, Georgia, Airport Passenger Facilities Charge and

General Revenue Bonds, Subordinate Lien Green Series

2023E, (AMT)

.000

07/01/35

7,662,857

1,020,000

Burke County Development Authority, Georgia, Pollution

Control Revenue Bonds, Georgia Power Company Vogtle Plant,

First Series 2013, (Mandatory Put 3/12/27)

.375

11/01/53

1,026,195

6,250,000

(f) Douglas County School District, Georgia, General Obligation

Bonds, Series 2025

.000

04/01/32

7,145,740

1,850,000

(f) Douglas County School District, Georgia, General Obligation

Bonds, Series 2025

.000

04/01/33

2,135,110

1,315,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2018A

.600

12/01/33

1,319,459

1,240,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2018A

.850

12/01/38

1,218,998

2,940,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2019A

.050

12/01/34

2,822,625

4,000,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2019A

.350

12/01/39

3,630,095

8,285,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2019B

.950

12/01/39

7,045,063

4,250,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2021A

.400

12/01/41

3,198,196

960,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2023A

.150

12/01/38

960,150

3,925,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2024A

.450

12/01/44

3,921,327

2,740,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2024C

.000

12/01/39

2,710,075

5,040,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2024C

.400

12/01/44

5,035,272

6,320,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2025C

.800

12/01/40

6,469,716

5,775,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Sub Series 2015A-1

.700

12/01/35

5,774,980

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

GEORGIA

(continued)

$

5,000,000

Georgia State, General Obligation Bonds, Series 2015A

.000

%

02/01/32

$

5,001,599

5,000,000

Georgia State, General Obligation Bonds, Series 2015A

.000

02/01/33

5,001,496

11,275,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2021A, (Mandatory Put 9/01/27)

.000

07/01/52

11,514,181

10,650,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022A, (Mandatory Put 12/01/29)

.000

09/01/52

10,928,380

12,160,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022B, (Mandatory Put 6/01/29)

.000

12/01/52

12,887,550

17,400,000

(d) Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022C, (Mandatory Put 11/01/27)

.000

08/01/52

17,509,514

4,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023B, (Mandatory Put 3/01/30)

.000

07/01/53

4,305,303

4,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023E-1, (Mandatory Put 6/01/31)

.000

12/01/53

4,312,104

17,130,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2024D, (Mandatory Put 4/01/31)

.000

04/01/54

18,550,281

3,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2024E, (Mandatory Put 12/01/32)

.000

05/01/55

3,281,551

8,580,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2025A, (Mandatory Put 6/01/32)

.000

06/01/55

9,339,267

6,750,000

Richmond County Board of Education, Georgia, General

Obligation Bonds, Sales Tax Series 2025

.000

10/01/32

7,769,125

TOTAL GEORGIA

185,892,119

GUAM - 0.1%

400,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/26

405,610

450,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/27

465,520

800,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/28

843,194

1,250,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/30

1,362,203

2,470,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/35

2,696,192

630,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/38

669,315

1,200,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/39

1,266,402

650,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024B

.000

07/01/26

659,116

500,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024B

.000

07/01/27

517,244

1,000,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024B

.000

07/01/28

1,053,992

1,000,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024B

.000

07/01/29

1,072,396

1,100,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024B

.000

07/01/30

1,198,739

TOTAL GUAM

12,209,923

HAWAII - 0.4%

3,500,000

Hawaii County, Hawaii, General Obligation Bonds, Series

2017A

.000

09/01/29

3,612,772

21,210,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Refunding Series 2019

.200

07/01/39

18,413,281

6,515,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Series 2017A, (AMT)

.100

05/01/26

6,456,040

2,000,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Queens Health Systems, Series 2025A

.000

07/01/30

2,214,117

2,000,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Queens Health Systems, Series 2025A

.000

07/01/32

2,261,751

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HAWAII

(continued)

$

1,000,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Queens Health Systems, Series 2025A

.000

%

07/01/33

$

1,138,715

1,005,000

Hawaii State, General Obligation Bonds, Series 2017FK

.000

05/01/34

1,032,227

1,340,000

Honolulu City and County, Hawaii, Wastewater System Revenue

Bonds, First Bond Resolution, Senior Refunding Series 2025A

.000

07/01/37

1,532,559

TOTAL HAWAII

36,661,462

IDAHO - 0.3%

310,000

Boise City, Idaho, Airport Revenue Bonds, Aircraft Maintenance

Facilities Project, Subordinate Series 2015, (AMT)

.750

09/01/32

309,992

1,455,000

Boise City, Idaho, Airport Revenue Bonds, Employee Parking

Facilities Project, Series 2021B, (AMT)

.000

09/01/46

1,294,087

1,210,000

Boise City, Idaho, Airport Revenue Bonds, Public Parking

Facilities Project, Refunding Series 2021A

.000

09/01/51

1,231,604

110,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2025B, (Mandatory Put 3/01/32)

.000

03/01/60

120,522

1,000,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Victory Charter School, Inc. Project, Refunding

Series 2016A

.000

07/01/39

974,873

895,000

Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, Series 2019C

.900

07/01/39

751,979

5,080,000

Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, Series 2024A

.450

01/01/44

4,999,142

11,770,000

(d) Spring Valley Community Infrastructure District 1, Eagle, Idaho,

Special Assessment Bonds, Series 2021

.750

09/01/51

11,046,345

TOTAL IDAHO

20,728,544

ILLINOIS - 7.4%

4,700,000

Berwyn, Cook County, Illinois, General Obligation Bonds,

Series 2014A

.000

12/01/34

4,692,263

479,000

Cary, Illinois, Special Tax Bonds, Special Service Area 1,

Refunding Series 2016 - BAM Insured

.700

03/01/26

478,139

1,026,000

Cary, Illinois, Special Tax Bonds, Special Service Area 1,

Refunding Series 2016 - BAM Insured

.900

03/01/28

1,025,254

943,000

Cary, Illinois, Special Tax Bonds, Special Service Area 1,

Refunding Series 2016 - BAM Insured

.050

03/01/30

943,139

463,000

Cary, Illinois, Special Tax Bonds, Special Service Area 2,

Refunding Series 2016 - BAM Insured

.700

03/01/26

462,168

1,391,000

Cary, Illinois, Special Tax Bonds, Special Service Area 2,

Refunding Series 2016 - BAM Insured

.900

03/01/28

1,389,989

1,418,000

Cary, Illinois, Special Tax Bonds, Special Service Area 2,

Refunding Series 2016 - BAM Insured

.050

03/01/30

1,418,209

29,585,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2016

.000

04/01/46

29,977,339

1,860,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2017

.000

04/01/33

1,890,772

1,000,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2017

.000

04/01/42

992,229

1,150,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2018

.000

04/01/37

1,166,753

2,700,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2017G

.000

12/01/34

2,712,371

2,930,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2018A

.000

12/01/32

2,983,171

1,000,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2018A

.000

12/01/33

1,012,916

1,500,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2018A

.000

12/01/35

1,506,892

3,930,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2019B

.000

12/01/33

3,980,529

12,835,000

(d) Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Series 2017A

.000

12/01/46

13,074,501

5,950,000

Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2020A

.000

12/01/45

6,062,691

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

6,005,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2018B

.000

%

01/01/37

$

6,271,541

1,010,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2022A

.500

01/01/48

965,547

3,320,000

Chicago, Illinois, General Obligation Bonds, Chicago Works

Series 2023A

.250

01/01/38

3,385,774

2,045,000

(e) Chicago, Illinois, General Obligation Bonds, Refunding Series

2016C, (ETM)

.000

01/01/26

2,056,423

4,740,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/29

5,025,839

7,965,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/30

8,579,996

725,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2024A

.000

01/01/26

728,683

1,100,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2024A

.000

01/01/27

1,126,307

1,265,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2024A

.000

01/01/28

1,320,719

1,500,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2024A

.000

01/01/29

1,588,546

1,000,000

Cook County Community Consolidated School District 64,

Illinois, Park Ridge, General Obligation Bonds, School Series

2025

.000

12/01/43

1,055,964

2,525,000

Cook County Community Consolidated School District 64,

Illinois, Park Ridge, General Obligation Bonds, School Series

2025

.250

12/01/47

2,457,915

3,450,000

Cook County, Illinois, Sales Tax Revenue Bonds, Series 2021A

.000

11/15/41

3,228,187

1,150,000

DuPage County Forest Preserve District, Illinois, General

Obligation Bonds, Limited Tax Series 2025

.000

11/01/28

1,236,396

4,020,000

DuPage County School District 58 Downers Grove, Illinois,

General Obligation Bonds, School Series 2022

.250

12/15/39

4,424,532

1,000,000

Effingham and Clay Counties Community Unit School District

Number 40, Effingham, Illinois, General Obligation Bonds,

School Series 2019A - BAM Insured

.000

12/01/30

1,030,391

1,000,000

Effingham and Clay Counties Community Unit School District

Number 40, Effingham, Illinois, General Obligation Bonds,

School Series 2019A - BAM Insured

.000

12/01/34

1,012,359

1,395,000

Effingham and Clay Counties Community Unit School District

Number 40, Effingham, Illinois, General Obligation Bonds,

School Series 2019A - BAM Insured

.000

12/01/35

1,405,043

1,455,000

Effingham and Clay Counties Community Unit School District

Number 40, Effingham, Illinois, General Obligation Bonds,

School Series 2019A - BAM Insured

.000

12/01/36

1,461,508

2,975,000

Elmhurst Park District, DuPage and Cook Counties, Illinois,

General Obligation Bonds, Series 2025

.125

12/15/45

2,865,656

1,016,000

Huntley, Illinois, Special Tax Bonds, Special Service Area 9,

Refunding Series 2017 - BAM Insured

.000

03/01/26

1,016,851

1,045,000

Huntley, Illinois, Special Tax Bonds, Special Service Area 9,

Refunding Series 2017 - BAM Insured

.150

03/01/27

1,046,883

4,560,000

Illinois Finance Authority, Revenue Bonds, Advocate Health

Care Network, Refunding Series 2008A-2

.000

11/01/30

4,653,863

4,965,000

Illinois Finance Authority, Revenue Bonds, Advocate Health

Care Network, Refunding Series 2008A-3

.000

11/01/30

5,174,182

6,665,000

Illinois Finance Authority, Revenue Bonds, Advocate Health

Care Network, Series 2008A-1

.000

11/01/30

6,802,612

6,400,000

Illinois Finance Authority, Revenue Bonds, Ann & Robert H.

Lurie Children's Hospital of Chicago, Refunding Series 2017

.000

08/15/39

6,199,095

2,130,000

Illinois Finance Authority, Revenue Bonds, Art Institute of

Chicago, Series 2016

.000

03/01/30

2,147,006

28,010,000

(e) Illinois Finance Authority, Revenue Bonds, Ascension Health

Alliance, Series 2016C, (Pre-refunded 2/15/27)

.000

02/15/41

28,601,700

85,000

Illinois Finance Authority, Revenue Bonds, Ascension Health

Alliance, Series 2016C

.000

02/15/41

81,120

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

915,000

(e) Illinois Finance Authority, Revenue Bonds, Ascension Health

Alliance, Series 2016C, (Pre-refunded 2/15/27)

.000

%

02/15/41

$

934,329

2,375,000

(e) Illinois Finance Authority, Revenue Bonds, Ascension Health/

fkaPresence Health Network, Series 2016C, (Pre-refunded

2/15/27)

.625

02/15/32

2,412,260

10,000,000

(e) Illinois Finance Authority, Revenue Bonds, Ascension Health/

fkaPresence Health Network, Series 2016C, (Pre-refunded

2/15/27)

.750

02/15/34

10,173,642

70,000

(e) Illinois Finance Authority, Revenue Bonds, Ascension Health/

fkaPresence Health Network, Series 2016C, (Pre-refunded

2/15/27)

.000

02/15/41

71,479

1,505,000

(e) Illinois Finance Authority, Revenue Bonds, Ascension Health/

fkaPresence Health Network, Series 2016C, (Pre-refunded

2/15/27)

.000

02/15/41

1,536,792

2,505,000

Illinois Finance Authority, Revenue Bonds, Memorial Health

System, Series 2019

.000

04/01/31

2,680,764

1,300,000

Illinois Finance Authority, Revenue Bonds, Memorial Health

System, Series 2019

.000

04/01/32

1,385,421

4,510,000

Illinois Finance Authority, Revenue Bonds, Memorial Health

System, Series 2019

.000

04/01/34

4,759,425

7,610,000

Illinois Finance Authority, Revenue Bonds, Memorial Health

System, Series 2019

.000

04/01/36

7,961,106

2,410,000

(e) Illinois Finance Authority, Revenue Bonds, Northwest

Community Hospital, Refunding Series 2016A, (Pre-refunded

7/01/26)

.000

07/01/33

2,454,264

3,170,000

(e) Illinois Finance Authority, Revenue Bonds, Northwest

Community Hospital, Refunding Series 2016A, (Pre-refunded

7/01/26)

.000

07/01/34

3,228,223

5,010,000

(e) Illinois Finance Authority, Revenue Bonds, Northwest

Community Hospital, Refunding Series 2016A, (Pre-refunded

7/01/26)

.000

07/01/35

5,102,018

1,000,000

Illinois Finance Authority, Revenue Bonds, OSF Healthcare

System, Series 2015A

.000

11/15/27

1,001,608

1,935,000

Illinois Finance Authority, Revenue Bonds, OSF Healthcare

System, Series 2015A

.000

11/15/28

1,938,164

2,000,000

Illinois Finance Authority, Revenue Bonds, OSF Healthcare

System, Series 2015A

.000

11/15/29

2,003,272

1,545,000

Illinois Finance Authority, Revenue Bonds, Roosevelt University,

Series 2007

.400

04/01/27

1,545,466

2,900,000

Illinois Finance Authority, Revenue Bonds, Rush University

Medical Center Obligated Group, Series 2015A

.000

11/15/29

2,902,784

1,500,000

Illinois Finance Authority, Revenue Bonds, Rush University

Medical Center Obligated Group, Series 2015B

.000

11/15/28

1,501,576

4,000,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

and Medical Centers, Refunding Series 2025B-1, (Mandatory

Put 8/15/30)

.000

08/15/43

4,320,075

4,000,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

and Medical Centers, Refunding Series 2025B-2, (Mandatory

Put 8/15/35)

.000

08/15/44

4,366,210

1,545,000

Illinois FInance Authority, Revenue Bonds, Southern Illinois

Healthcare Enterprises, Inc., Refunding Series 2017C

.000

03/01/32

1,579,148

2,760,000

Illinois FInance Authority, Revenue Bonds, Southern Illinois

Healthcare Enterprises, Inc., Refunding Series 2017C

.000

03/01/33

2,816,389

2,005,000

Illinois FInance Authority, Revenue Bonds, Southern Illinois

Healthcare Enterprises, Inc., Refunding Series 2017C

.000

03/01/34

2,042,207

1,815,000

Illinois FInance Authority, Revenue Bonds, Southern Illinois

Healthcare Enterprises, Inc., Refunding Series 2017C

.000

03/01/35

1,771,175

3,140,000

Illinois Finance Authority, Revenue Bonds, University of

Chicago Medicine, Series 2022A, (Mandatory Put 8/15/27)

.000

08/15/52

3,246,421

8,750,000

Illinois Finance Authority, Revenue Bonds, University of

Chicago, Series 2014A

.000

10/01/38

8,750,037

5,100,000

Illinois Finance Authority, Revenue Bonds, University of

Chicago, Series 2021B, (Mandatory Put 8/15/31)

.000

08/15/53

5,614,558

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

3,070,000

(d) Illinois Finance Authority, Surface Freight Transfer Facilities

Revenue Bonds, CenterPoint Joliet Terminal Railroad Project,

Series 2017, (AMT), (Mandatory Put 7/02/35)

.800

%

12/01/43

$

3,153,467

7,500,000

(d) Illinois Finance Authority, Surface Freight Transfer Facilities

Revenue Bonds, CenterPointJoliet Terminal Railroad Project,

Series 2016, (AMT), (Mandatory Put 12/31/34)

.125

12/01/43

7,440,792

13,655,000

(d) Illinois Finance Authority, Surface Freight Transfer Facilities

Revenue Bonds, CenterPointJoliet Terminal Railroad Project,

Series 2020, (AMT), (Mandatory Put 12/31/34)

.125

12/01/50

13,547,202

1,000,000

Illinois Finance Authority, Water Facilities Revenue Bonds,

American Water Capital Corporation Project, Refunding Series

2019, (Mandatory Put 10/01/29)

.450

10/01/39

972,694

21,355,000

Illinois Housing Development Authority, Revenue Bonds,

Green Series 2021B

.150

10/01/41

15,106,538

560,000

Illinois Housing Development Authority, Revenue Bonds, Series

2019D

.950

10/01/39

471,524

5,475,000

Illinois Housing Development Authority, Revenue Bonds, Social

Series 2024I

.450

10/01/44

5,468,456

20,000,000

Illinois Municipal Electric Agency, Power Supply System

Revenue Bonds, Refunding Series 2025A

.000

02/01/34

22,734,142

1,000,000

Illinois State, General Obligation Bonds, June Series 2016

.000

06/01/28

1,014,921

3,090,000

Illinois State, General Obligation Bonds, June Series 2016

.500

06/01/29

3,095,893

12,200,000

Illinois State, General Obligation Bonds, November Series

2016

.000

11/01/26

12,505,542

2,690,000

Illinois State, General Obligation Bonds, November Series

2017C

.000

11/01/29

2,811,761

1,345,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/25

1,347,581

1,725,000

Illinois State, General Obligation Bonds, November Series

2017D

.250

11/01/26

1,733,059

9,345,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/26

9,576,008

19,765,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/27

20,676,868

1,765,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/28

1,844,854

2,000,000

Illinois State, General Obligation Bonds, November Series

2019B

.000

11/01/30

2,167,442

4,060,000

Illinois State, General Obligation Bonds, Refunding June Series

2022B

.000

03/01/26

4,099,522

3,570,000

Illinois State, General Obligation Bonds, Refunding October

Series 2024

.000

02/01/27

3,678,881

2,000,000

Illinois State, General Obligation Bonds, Refunding October

Series 2024

.000

02/01/28

2,105,455

2,205,000

Illinois State, General Obligation Bonds, Refunding October

Series 2024

.000

02/01/29

2,363,365

1,600,000

Illinois State, General Obligation Bonds, Refunding September

Series 2018B

.000

10/01/32

1,685,596

7,100,000

Illinois State, General Obligation Bonds, Taxable September

Series 2025B

.250

09/01/29

7,757,803

6,615,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Refunding Senior Lien Series 2016A

.000

12/01/31

6,646,961

7,160,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Refunding Senior Lien Series 2016A

.000

12/01/32

7,192,735

5,800,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Refunding Senior Series 2024A

.000

01/01/36

6,545,105

9,860,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2014C

.000

01/01/36

9,867,499

10,015,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2014C

.000

01/01/39

10,017,745

13,090,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2015A

.000

01/01/40

13,096,830

3,235,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2015B

.000

01/01/40

3,241,789

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

5,035,000

Illinois, General Obligation Bonds, Illinois FIRST Program,

Series 2001 - FGIC Insured

.000

%

11/01/26

$

5,109,046

12,020,000

Kendall, Kane, and Will Counties Community Unit School

District 308 Oswego, Illinois, General Obligation Bonds,

Refunding School Series 2016

.000

02/01/34

12,075,171

3,465,000

Kendall, Kane, and Will Counties Community Unit School

District 308 Oswego, Illinois, General Obligation Bonds,

Refunding School Series 2016

.000

02/01/35

3,480,210

1,485,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/30

1,520,976

1,215,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/31

1,243,167

1,645,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/32

1,680,850

1,725,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/33

1,760,002

1,815,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/34

1,849,108

1,845,000

LaSalle County, Illinois, General Obligation Bonds, Self-

Insurance Series 2019

.000

12/01/27

1,895,900

1,925,000

LaSalle County, Illinois, General Obligation Bonds, Self-

Insurance Series 2019

.000

12/01/28

1,980,535

1,560,000

LaSalle County, Illinois, General Obligation Bonds, Self-

Insurance Series 2019

.000

12/01/29

1,604,306

2,430,000

Madison County Community Unit School District 7

Edwardsville, Illinois, General Obligation Bonds, Series 2017A

.000

12/01/28

2,437,255

2,500,000

Madison County Community Unit School District 7

Edwardsville, Illinois, General Obligation Bonds, Series 2017A

.000

12/01/29

2,507,253

1,500,000

Madison, Macoupin, Jersey, Calhoun, Morgan, Scott, and

Greene Counties Community College District 536, Illinois,

General Obligation Bonds, Lewis & Clark Community College,

Refunding Series 2017A - AGM Insured

.000

11/01/31

1,532,377

4,380,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Refunding Series 2020A

.000

06/15/50

3,729,512

1,905,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2012B

.000

12/15/51

512,876

1,810,000

(h) Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/37

1,431,766

9,045,000

(h) Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/42

6,697,500

6,000,000

(h) Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/47

4,353,632

1,000,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2020B

.000

06/15/42

1,012,824

9,580,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

NPFG Insured

.000

12/15/29

8,376,735

3,970,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A

.000

06/15/30

3,408,311

15,000,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

AGM Insured

.000

12/15/40

7,671,556

325,000

Montgomery, Illinois, Lakewood Creek Project Special

Assessment Bonds, Series 2018 - BAM Insured

.100

03/01/26

325,352

375,000

Montgomery, Illinois, Lakewood Creek Project Special

Assessment Bonds, Series 2018 - BAM Insured

.200

03/01/27

377,502

260,000

Montgomery, Illinois, Lakewood Creek Project Special

Assessment Bonds, Series 2018 - BAM Insured

.300

03/01/28

261,279

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

445,000

Montgomery, Illinois, Lakewood Creek Project Special

Assessment Bonds, Series 2018 - BAM Insured

.450

%

03/01/30

$

448,225

320,000

Morton Grove, Illinois, Tax Increment Revenue Bonds, Sawmill

Station Redevelopment Project, Senior Lien Series 2019

.250

01/01/29

320,011

10,000,000

Northern Illinois Municipal Power Agency, Power Project

Revenue Bonds, Prairie State Project, Refunding Series 2016A

.000

12/01/41

10,097,521

325,000

Northern Illinois University, Auxiliary Facilities System Revenue

Bonds, Series 2021 - BAM Insured

.000

10/01/27

337,472

650,000

Northern Illinois University, Auxiliary Facilities System Revenue

Bonds, Series 2021 - BAM Insured

.000

10/01/28

684,858

1,491,000

Plano, Illinois, Special Tax Bonds, Special Service Area 1 &

2 Lakewood Springs Project, Refunding Series 2014 - AGM

Insured

.000

03/01/29

1,492,908

3,040,000

(e) Railsplitter Tobacco Settlement Authority, Illinois, Tobacco

Settlement Revenue Bonds, Series 2017, (Pre-refunded

6/01/26)

.000

06/01/27

3,089,297

1,283,000

Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood

Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 -

BAM Insured

.700

03/01/29

1,296,618

1,073,000

Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood

Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 -

BAM Insured

.800

03/01/30

1,085,502

2,187,000

Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood

Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 -

BAM Insured

.000

03/01/33

2,213,135

2,125,000

Sales Tax Securitization Corporation, Illinois, Sales Tax

Securitization Bonds, Refunding Second Lien Series 2024A

.000

01/01/37

2,369,067

2,440,000

Sales Tax Securitization Corporation, Illinois, Sales Tax

Securitzation Bonds, Second Lien Series 2020A

.000

01/01/36

2,567,751

2,435,000

Sales Tax Securitization Corporation, Illinois, Sales Tax

Securitzation Bonds, Second Lien Series 2020A - BAM Insured

.000

01/01/37

2,566,104

2,715,000

Southwestern Illinois Development Authority, Illinois, Local

Government Revenue Bonds, Triad Community Unit School

District 2 Project, Series 2025B - BAM Insured

.000

04/01/39

2,950,933

2,105,000

Southwestern Illinois Development Authority, Illinois, Local

Government Revenue Bonds, Triad Community Unit School

District 2 Project, Series 2025B - BAM Insured

.000

04/01/40

2,262,807

3,960,000

Southwestern Illinois Development Authority, Illinois, Local

Government Revenue Bonds, Triad Community Unit School

District 2 Project, Series 2025B - BAM Insured

.000

04/01/41

4,218,658

2,935,000

Southwestern Illinois Development Authority, Local

Government Program Revenue Bonds, Southwestern Illinois

Flood District Council Project, Series 2016B

.000

10/15/40

2,859,252

965,000

Southwestern Illinois Development Authority, Local

Government Program Revenue Bonds, Southwestern Illinois

Flood District Council Project, Series 2020

.000

04/15/34

987,106

1,250,000

Southwestern Illinois Development Authority, Local

Government Program Revenue Bonds, Southwestern Illinois

Flood District Council Project, Series 2020

.000

10/15/35

1,268,128

5,675,000

Will County Community High School District 210 Lincoln-

Way, Illinois, General Obligation Bonds, Capital Appreciation

Refunding School Series 2013B

.000

01/01/30

4,926,056

5,110,000

(e) Will County, Illinois, General Obligation Bonds, Alternate

Revenue Source, Series 2016, (Pre-refunded 11/15/25)

.000

11/15/41

5,124,569

3,855,000

Winnebago-Boone Counties School District 205 Rockford,

Illinois, General Obligation Bonds, Series 2013

.000

02/01/26

3,810,699

TOTAL ILLINOIS

610,598,484

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

INDIANA - 2.7%

$

2,100,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, Earlham College, Refunding Series 2013A

.000

%

10/01/32

$

2,099,901

3,500,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, University of Indianapolis Project, Series 2017

.000

10/01/43

3,396,721

3,070,000

Indiana Finance Authority, Environmental Facilities Revenue

Bonds, Indianapolis Power & Light Company Project, Refunding

Series 2020A, (AMT), (Mandatory Put 4/01/26)

.950

12/01/38

3,029,691

6,750,000

Indiana Finance Authority, Environmental Facilities Revenue

Bonds, Indianapolis Power & Light Company Project, Refunding

Series 2021B, (Mandatory Put 8/01/26)

.400

08/01/29

6,178,773

4,000,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, Southern Indiana Gas & Electric Company,

Refunding Series 2013A, (AMT), (Mandatory Put 8/01/28)

.000

05/01/43

4,019,890

2,375,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, United States Steel Corporation Project,

Refunding Series 2021A

.125

12/01/26

2,379,893

6,440,000

Indiana Finance Authority, Hospital Revenue Bonds, Goshen

Health, Series 2019B, (Mandatory Put 11/01/26)

.100

11/01/49

6,290,269

12,830,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

University Health Obligation Group, Long Term Rate Series

2023B-3, (Mandatory Put 7/01/32)

.000

10/01/55

14,430,916

3,850,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

University Health Series 2025D-1, (Mandatory Put 10/01/29)

.000

10/01/64

4,154,025

9,530,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

University Health Series 2025D-2, (Mandatory Put 10/01/31)

.000

10/01/63

10,622,856

1,710,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, Series 2014A

.000

10/01/26

1,713,566

1,470,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Series 2021A

.050

07/01/41

1,023,114

11,335,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Social PAC Series

2021B

.125

07/01/41

7,885,935

1,500,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Social Series 2024A-1

.500

07/01/44

1,495,480

5,005,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Social Series 2024B-1

.650

07/01/44

5,074,341

7,665,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Social Series 2024C-1

.550

07/01/44

7,676,946

14,375,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Airport Authority Project Revenue Bonds, Refunding Series

2019D, (AMT)

.000

01/01/27

14,736,615

4,225,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Airport Authority Project Revenue Bonds, Refunding Series

2019D, (AMT)

.000

01/01/29

4,495,961

3,000,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Airport Authority Project Revenue Bonds, Series 2023I-2, (AMT)

.000

01/01/27

3,075,467

3,150,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Airport Authority Project Revenue Bonds, Series 2023I-2, (AMT)

.000

01/01/28

3,299,268

1,000,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Local Income Tax Revenue Bonds, Indianapolis Public

Transportation Corporation Project, Green Series 2025A

.000

07/15/37

1,112,683

1,375,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Local Income Tax Revenue Bonds, Indianapolis Public

Transportation Corporation Project, Green Series 2025A

.000

07/15/43

1,444,924

2,000,000

IPS Multi-School Building Corporation, Indiana, First Mortgage

Revenue Bonds, Refunding & Improvement, Social Series 2024

.000

07/15/43

2,088,704

4,500,000

IPS Multi-School Building Corporation, Indiana, First Mortgage

Revenue Bonds, Social Series 2024

.000

07/15/41

4,766,932

4,750,000

IPS Multi-School Building Corporation, Indiana, First Mortgage

Revenue Bonds, Social Series 2024

.000

07/15/44

4,929,801

4,000,000

Mount Vernon, Indiana, Environmental Improvement Revenue

Bonds, Southern Indiana Gas and Electric Company Project,

Series 2015, (AMT), (Mandatory Put 9/01/28)

.250

09/01/55

4,070,910

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

INDIANA

(continued)

$

33,040,000

Richmond Hospital Authority, Indiana, Revenue Bonds, Reid

Hospital Project, Refunding Series 2018B

.000

%

01/01/36

$

33,365,642

7,675,000

Rockport, Indiana, Pollution Control Revenue Refunding Bonds,

Indiana Michigan Power Company Project, Series 2025A,

(Mandatory Put 6/01/29)

.700

06/01/47

7,882,002

2,320,000

(f) Valparaiso 21st Century School Building Corporation, Porter

County, Indiana, First Mortgage Bonds, Ad Valorem Property

Tax Refunding Series 2025

.000

07/15/32

2,620,452

2,610,000

(d) Valparaiso, Indiana, Exempt Facilities Revenue Bonds, Pratt

Paper LLC Project, Refunding Series 2024, (AMT)

.500

01/01/34

2,692,150

1,025,000

Vanderburgh County,Indiana, Redevelopment District Tax

Increment Revenue bonds, Refunding Series 2014

.000

02/01/26

1,026,935

1,805,000

Vanderburgh County,Indiana, Redevelopment District Tax

Increment Revenue bonds, Refunding Series 2014

.000

02/01/27

1,808,334

1,800,000

Vanderburgh County,Indiana, Redevelopment District Tax

Increment Revenue bonds, Refunding Series 2014

.000

02/01/29

1,803,325

2,700,000

Vanderburgh County,Indiana, Redevelopment District Tax

Increment Revenue bonds, Refunding Series 2014

.000

02/01/31

2,704,987

1,340,000

Westfield-Washington Multi-School Building Corporation,

Hamilton County, Indiana, First Mortgage Bonds, Series 2024A

- BAM Insured

.250

07/15/39

1,486,864

1,750,000

Westfield-Washington Multi-School Building Corporation,

Hamilton County, Indiana, First Mortgage Bonds, Series 2024A

- BAM Insured

.250

07/15/41

1,900,966

31,305,000

Whiting, Indiana, Environmental Facilities Refunding Revenue

Bonds, BP Products North America Inc. Project, Refunidng

Series 2019A, (AMT), (Mandatory Put 6/05/26)

.000

12/01/44

31,721,306

4,310,000

Whiting, Indiana, Environmental Facilities Revenue Bonds, BP

Products North America Inc. Project, Series 2008, (Mandatory

Put 6/21/35)

.200

06/01/44

4,511,670

TOTAL INDIANA

219,018,215

IOWA - 0.9%

1,755,000

Iowa City Community School District, Johnson County, Iowa,

General Obligaiton Bonds, School Series 2020 - BAM Insured

.500

06/01/39

1,392,695

7,300,000

Iowa Finance Authority, Health Facilities Revenue Bonds,

UnityPoint Health Project, Series 2014C

.125

02/15/35

7,300,177

5,555,000

(e) Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

Series 2022, (Pre-refunded 12/01/32), (Mandatory Put

12/01/32)

.000

12/01/50

6,039,028

3,305,000

(e) Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

Series 2022, (Pre-refunded 12/01/32)

.000

12/01/50

3,807,341

8,930,000

(e) Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

Series 2022, (Pre-refunded 12/01/32), (Mandatory Put

12/01/42)

.000

12/01/50

10,287,309

2,000,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Series 2019D

.600

07/01/37

1,718,163

5,775,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Series 2020A

.750

01/01/50

5,796,004

7,400,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Social Series 2021B

.200

07/01/41

5,395,262

2,250,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Social Series 2021D

.100

07/01/38

1,749,564

2,835,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Social Series 2024C

.500

07/01/44

2,826,458

800,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

06/01/27

826,714

2,100,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

06/01/28

2,210,644

1,600,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

06/01/30

1,731,795

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

IOWA

(continued)

$

1,605,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

%

06/01/31

$

1,750,965

1,610,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

06/01/32

1,741,684

1,000,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

06/01/33

1,071,669

8,180,000

PEFA Inc., Public Energy Facilities Authority, Inc., Iowa, Gas

Project Revenue Bonds, Series 2019, (Mandatory Put 9/01/26)

.000

09/01/49

8,324,497

5,000,000

Polk County, Iowa, General Obligation Capital Loan Notes,

Series 2025B

.000

06/01/45

5,256,465

1,000,000

Waterloo Community School District, Iowa, School

Infrastructure Sales, Services and Use Tax Revenue Bonds,

Series 2025 - BAM Insured

.500

07/01/43

1,004,569

TOTAL IOWA

70,231,003

KANSAS - 0.3%

3,635,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/29

3,990,262

5,000,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/30

5,591,291

5,000,000

Kansas Development Finance Authority, Hospital Revenue

Bonds, Advent Health Obligated Group, Series 2021B,

(Mandatory Put 11/15/31)

.000

11/15/54

5,588,965

3,280,000

Kansas Development Finance Authority, Hospital Revenue

Bonds, Advent Health Obligated Group, Series 2021B,

(Mandatory Put 11/15/28)

.000

11/15/54

3,498,773

5,000,000

Manhattan, Kansas, General Obligation Bonds, Temporary

Notes, Series 2024-02 - BAM Insured

.000

06/15/28

5,066,027

2,400,000

(d) Wyandotte County-Kansas City Unified Government, Kansas,

Sales Tax Special Obligation Bonds, Village East Project Areas

2B 3 and 5, Series 2022

.750

09/01/39

2,475,742

TOTAL KANSAS

26,211,060

KENTUCKY - 2.0%

110,000

Ashland, Kentucky, Medical Center Revenue Bonds, Ashland

Hospital Corporation d/b/a King's Daughters Medical Center

Project, Refunding Series 2019

.000

02/01/33

110,076

500,000

Ashland, Kentucky, Medical Center Revenue Bonds, Ashland

Hospital Corporation d/b/a King's Daughters Medical Center

Project, Refunding Series 2019

.000

02/01/34

494,499

180,000

Ashland, Kentucky, Medical Center Revenue Bonds, Ashland

Hospital Corporation d/b/a King's Daughters Medical Center

Project, Refunding Series 2019

.000

02/01/35

176,145

1,110,000

Ashland, Kentucky, Medical Center Revenue Bonds, Ashland

Hospital Corporation d/b/a King's Daughters Medical Center

Project, Refunding Series 2019

.000

02/01/36

1,073,842

5,000,000

Carroll County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project, Refunding Series

2006B, (AMT)

.125

10/01/34

4,133,004

21,375,000

Carroll County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project, Series 2008A,

(AMT)

.000

02/01/32

18,858,765

1,000,000

Christian County, Kentucky, Hospital Revenue Bonds, Jennie

Stuart Medical Center, Series 2016

.375

02/01/36

1,003,279

3,505,000

Kentucky Asset/Liability Commission, General Fund Revenue

Project Notes, Federal Highway Trust Fund, First Refunding

Series 2024A

.000

09/01/26

3,578,955

3,200,000

Kentucky Economic Development Finance Authority, Hospital

Revenue Bonds, Owensboro Health, Refunding Series 2017A

.000

06/01/37

3,225,451

1,190,000

Kentucky Economic Development Finance Authority, Hospital

Revenue Bonds, Owensboro Medical Health System, Series

2015A

.500

06/01/46

1,075,830

2,465,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, CommonSpirit Health, Series 2019A-1

.000

08/01/28

2,608,674

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

KENTUCKY

(continued)

$

1,635,000

Kentucky Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2024C

.400

%

07/01/44

$

1,635,593

2,005,000

Kentucky Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2025A

.200

07/01/40

2,020,750

1,000,000

Kentucky Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2025A

.500

07/01/45

999,534

1,000,000

Kentucky Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2025C

.900

07/01/45

1,027,633

4,605,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 119, Series 2018

.000

05/01/37

4,780,958

2,475,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 131, Series 2024A

.000

10/01/28

2,659,917

9,875,000

Louisville and Jefferson County Metropolitan Government

Board of Water Works, Kentucky, Water System Revenue

Bonds, Series 2025

.000

11/15/33

11,506,713

12,025,000

Louisville and Jefferson County Metropolitan Sewer District,

Kentucky, Sewer and Drainage System Revenue Bonds,

Refunding Series 2025A

.000

05/15/33

13,815,599

1,320,000

Louisville Regional Airport Authority, Kentucky, Airport System

Revenue Bonds, Refunding Series 2014A, (AMT)

.000

07/01/26

1,324,111

3,280,000

Louisville Regional Airport Authority, Kentucky, Airport System

Revenue Bonds, Refunding Series 2014A, (AMT)

.000

07/01/28

3,282,218

7,800,000

Louisville/Jefferson County Metro Government, Kentucky,

Health System Revenue Bonds, Norton Healthcare, Inc., Series

2023B, (Mandatory Put 10/01/29)

.000

10/01/47

8,372,011

7,040,000

Louisville-Jefferson County Metropolitan Government,

Kentucky, Pollution Control Revenue Bonds, Louisville Gas and

Electric Company Project, Series 2003A

.000

10/01/33

6,054,894

1,060,000

Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-

Calloway County Public Hospital Corporation Project,

Refunding Series 2016

.000

08/01/26

1,069,592

1,110,000

Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-

Calloway County Public Hospital Corporation Project,

Refunding Series 2016

.000

08/01/27

1,122,822

1,165,000

Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-

Calloway County Public Hospital Corporation Project,

Refunding Series 2016

.000

08/01/28

1,178,092

1,230,000

Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-

Calloway County Public Hospital Corporation Project,

Refunding Series 2016

.000

08/01/29

1,243,235

2,935,000

Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-

Calloway County Public Hospital Corporation Project,

Refunding Series 2016

.000

08/01/37

2,944,127

15,000,000

Owen County, Kentucky, Waterworks System Revenue Bonds,

Kentucky-American Water Company Project, Refunding Series

2019A, (Mandatory Put 10/01/29)

.450

06/01/39

14,590,406

18,405,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2024B, (Mandatory Put 8/01/32)

.000

01/01/55

19,952,595

3,655,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2025A, (Mandatory Put 12/01/29)

.250

06/01/55

3,921,352

5,940,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2020A, (Mandatory Put 6/01/26)

.000

12/01/50

5,985,026

1,000,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2022A-1, (Mandatory Put 8/01/30)

.000

08/01/52

1,023,265

3,335,000

Trimble County, Kentucky, Environmental Facilities Revenue

Bonds, Louisville Gas & Electric Company Project, Series

2023A, (AMT), (Mandatory Put 6/01/27)

.700

06/01/54

3,371,245

4,750,000

Trimble County, Kentucky, Pollution Control Revenue Bonds,

Louisville Gas and Electric Company Project, Series 2016A,

(AMT), (Mandatory Put 9/01/27)

.300

09/01/44

4,440,181

1,485,000

University of Kentucky, General Receipts Bonds, Series 2018A

.000

10/01/34

1,451,328

5,320,000

University of Kentucky, General Receipts Bonds, Series 2018A

.125

10/01/37

4,953,292

TOTAL KENTUCKY

161,065,009

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA - 1.8%

$

14,510,000

Calcasieu Parish Memorial Hospital Service District, Louisiana,

Revenue Bonds, Lake Charles Memorial Hospital, Refunding

Series 2019

.000

%

12/01/34

$

14,712,281

8,935,000

Calcasieu Parish Memorial Hospital Service District, Louisiana,

Revenue Bonds, Lake Charles Memorial Hospital, Refunding

Series 2019

.000

12/01/39

8,692,463

2,895,000

East Baton Rouge Parish Capital Improvement District,

Louisiana, Movebr Sales Tax Revenue Bonds, Series 2024

.000

08/01/38

3,218,724

2,080,000

East Baton Rouge Parish Capital Improvement District,

Louisiana, Movebr Sales Tax Revenue Bonds, Series 2024

.000

08/01/39

2,290,801

870,000

Greater New Orleans Expressway Commission, Louisiana, Toll

Revenue Bonds, Subordinate Lien Refunding Series 2025

.000

11/01/42

921,730

2,470,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Home Ownership Program, Series 2021D

.350

12/01/41

1,843,924

3,050,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Home Ownership Program, Series 2024A

.400

12/01/44

3,050,451

2,085,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2025A

.150

12/01/40

2,090,456

3,585,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2025A

.500

12/01/45

3,566,101

1,090,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Bossier City, Louisiana Project, Refunding Series 2025

.000

06/01/33

1,228,668

11,230,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Entergy Lousiana, LLC Project, Refunding Series 2021B

.500

04/01/36

9,400,003

17,010,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Westlake

Chemical Corporation Projects, Refunding Series 2017

.500

11/01/32

16,626,613

1,430,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/28

1,475,555

1,065,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/29

1,098,352

1,185,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/30

1,221,521

1,755,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/31

1,806,771

1,140,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/32

1,171,336

2,695,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/46

2,698,858

1,000,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2025B

.000

05/15/30

1,083,603

1,000,000

(g) Louisiana Public Facilities Authority, Revenue Bonds,

Archdiocese of New Orleans, Refunding Series 2017

.000

07/01/37

335,000

25,000

(e) Louisiana Public Facilities Authority, Revenue Bonds, Ochsner

Clinic Foundation Project, Refunding Series 2016, (Pre-

refunded 5/15/26)

.000

05/15/30

25,368

1,110,000

Louisiana Public Facilities Authority, Revenue Bonds, Ochsner

Clinic Foundation Project, Refunding Series 2016

.000

05/15/30

1,124,242

35,000

(e) Louisiana Public Facilities Authority, Revenue Bonds, Ochsner

Clinic Foundation Project, Refunding Series 2016, (Pre-

refunded 5/15/26)

.000

05/15/32

35,515

3,430,000

Louisiana Public Facilities Authority, Revenue Bonds, Ochsner

Clinic Foundation Project, Refunding Series 2016

.000

05/15/32

3,470,567

40,000

(e) Louisiana Public Facilities Authority, Revenue Bonds, Ochsner

Clinic Foundation Project, Refunding Series 2016, (Pre-

refunded 5/15/26)

.000

05/15/33

40,588

3,915,000

Louisiana Public Facilities Authority, Revenue Bonds, Ochsner

Clinic Foundation Project, Refunding Series 2016

.000

05/15/33

3,958,622

1,100,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.500

09/01/54

1,115,181

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA

(continued)

$

930,000

Louisiana State, Gasoline and Fuels Tax Revenue Bonds,

Refunding Second Lien Series 2025A

.000

%

05/01/40

$

920,974

5,000,000

Louisiana State, General Obligation Bonds, Series 2016A

.000

09/01/34

5,083,402

900,000

New Orleans Aviation Board, Louisiana, General Airport

Revenue Bonds, Louis Armstrong New Orleans International

Airport, Series 2023B, (AMT)

.000

01/01/37

959,583

980,000

New Orleans Aviation Board, Louisiana, General Airport

Revenue Bonds, Louis Armstrong New Orleans International

Airport, Series 2023B, (AMT)

.000

01/01/39

1,028,173

1,420,000

New Orleans Aviation Board, Louisiana, General Airport

Revenue Bonds, Louis Armstrong New Orleans International

Airport, Series 2023B, (AMT)

.000

01/01/40

1,472,414

5,195,000

New Orleans, Louisiana, General Obligation Bonds, Public

Improvement Series 2021A

.000

12/01/26

5,340,805

6,105,000

New Orleans, Louisiana, General Obligation Bonds, Public

Improvement Series 2024A

.000

12/01/40

6,496,349

480,000

New Orleans, Louisiana, General Obligation Bonds, Refunding

Series 2015

.000

12/01/25

481,766

795,000

New Orleans, Louisiana, General Obligation Bonds, Refunding

Series 2015

.000

12/01/27

798,127

3,265,000

(d) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2010B, (Mandatory Put 6/01/30)

.100

12/01/40

3,534,588

2,050,000

(f) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2011, (Mandatory Put 6/01/30)

.000

08/01/41

2,056,332

2,195,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017B-2,

(Mandatory Put 7/01/26)

.375

06/01/37

2,187,236

17,110,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017C,

(Mandatory Put 7/03/28)

.300

06/01/37

17,333,886

1,375,000

Saint Tammany Parish Hospital Service District 2, Louisiana,

General Obligation Bonds, Series 2025 - BAM Insured

.000

03/01/33

1,539,290

760,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/26

778,765

1,475,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/29

1,565,435

1,500,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/30

1,591,812

1,795,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/32

1,878,912

1,630,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/33

1,652,195

6,005,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/35

5,664,217

TOTAL LOUISIANA

150,667,555

MAINE - 0.5%

4,645,000

Maine Health and Higher Educational Facilities Authority

Revenue Bonds, Eastern Maine Medical Center Obligated

Group Issue, Series 2016A

.000

07/01/41

3,823,078

5,685,000

Maine Health and Higher Educational Facilities Authority

Revenue Bonds, Eastern Maine Medical Center Obligated

Group Issue, Series 2016A

.000

07/01/46

4,478,752

840,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, MaineHealth Issue, Series 2020A

.000

07/01/37

845,873

200,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, Series 2021A - AGM Insured

.000

07/01/26

203,373

165,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, Series 2021A - AGM Insured

.000

07/01/27

171,775

240,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, Series 2021A - AGM Insured

.000

07/01/28

256,089

685,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, Series 2021A - AGM Insured

.500

07/01/29

684,981

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MAINE

(continued)

$

200,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, Series 2021A - AGM Insured

.000

%

07/01/30

$

221,884

10,000,000

Maine State Housing Authority, Multifamily Mortgage Purchase

Bonds, Series 2020B

.350

11/15/40

7,642,659

3,125,000

Maine State Housing Authority, Multifamily Mortgage Purchase

Bonds, Series 2021A

.050

11/15/41

2,145,744

7,425,000

Maine State Housing Authority, Multifamily Mortgage Purchase

Bonds, Series 2022A

.400

11/15/41

5,463,138

6,280,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Series 2020D

.550

11/15/40

4,886,614

3,250,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Series 2021B

.200

11/15/41

2,335,942

10,675,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2021C

.150

11/15/41

7,538,010

3,000,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2021D

.400

11/15/41

2,258,711

1,205,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2024C

.550

11/15/44

1,201,323

TOTAL MAINE

44,157,946

MARYLAND - 1.6%

5,140,000

Anne Arundel County, Maryland, General Obligation Bonds,

Consolidated General Improvement, Series 2024

.000

10/01/36

5,870,104

5,000,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Series 2025

.000

03/01/33

5,790,534

5,505,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Series 2025

.000

03/01/36

6,373,167

1,270,000

Baltimore County, Maryland, Revenue Bonds, Oak Crest

Village, Series 2016

.250

01/01/31

1,263,641

3,365,000

Baltimore County, Maryland, Revenue Bonds, Oak Crest

Village, Series 2016

.000

01/01/37

3,372,741

1,760,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/27

1,796,915

2,780,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/29

2,837,052

1,000,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/30

1,020,283

1,365,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/31

1,389,924

145,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/34

146,677

1,500,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/39

1,500,614

2,800,000

Charles County, Maryland, General Obligation Bonds,

Refunding & Consolidated Public Improvement Series 2017

.400

10/01/29

2,756,498

3,000,000

Howard County Housing Commission, Maryland, Revenue

Bonds, Columbia Landing Project, Refunding Series 2021A

.600

06/01/29

2,794,904

5,000,000

Howard County, Maryland, General Obligation Bonds,

Consolidated Public Improvement Project, Series 2018A

.000

02/15/30

5,030,606

22,335,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2019C

.000

09/01/39

19,704,578

10,375,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2020A

.500

09/01/40

7,985,867

15,055,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021A

.950

09/01/41

10,192,595

13,245,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021B

.100

09/01/41

9,287,709

20,000,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021C

.450

09/01/41

15,235,396

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MARYLAND

(continued)

$

1,000,000

Maryland Economic Development Corporation, Student

Housing Revenue Bonds, University of Maryland, College Park

Project, Refunding Series 2016 - AGM Insured

.000

%

06/01/28

$

1,013,647

7,010,000

Maryland Health and HIgher Educational Facilities

Authority, Revenue Bonds, University of Maryland Medical

Systems, Series 2020B-2, (Mandatory Put 7/01/27)

.000

07/01/45

7,175,039

4,400,000

Maryland Health and Higher Educational Facilities

Authority, Revenue Bonds, University of Maryland Medical

Systems, Series 2025B, (Mandatory Put 7/01/31)

.000

07/01/45

4,821,353

805,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Mercy Medical Center, Series 2016A

.000

07/01/32

816,041

2,250,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Mercy Medical Center, Series 2016A

.000

07/01/33

2,278,678

1,650,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Mercy Medical Center, Series 2016A

.000

07/01/34

1,669,444

2,000,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Mercy Medical Center, Series 2016A

.000

07/01/35

2,021,557

1,570,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Mercy Medical Center, Series 2016A

.000

07/01/36

1,585,581

1,000,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Adventist HealthCare Issue, Series 2021B

.000

01/01/39

948,024

4,910,000

Maryland Transportation Authority, Revenue Bonds,

Transportation Facilities Projects, Refunding Series 2024A

.000

07/01/37

5,577,014

TOTAL MARYLAND

132,256,183

MASSACHUSETTS - 2.4%

10,790,000

Boston, Massachusetts, General Obligation Bonds, Series

2025A

.000

02/01/36

12,393,015

14,750,000

Boston, Massachusetts, General Obligation Bonds, Series

2025A

.000

02/01/37

16,793,691

1,000,000

Brookline, Massachusetts, General Obligation Bonds,

Municipal Purpose Loan Series 2025

.000

05/15/43

988,056

4,000,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/32

4,621,762

835,000

Massachusetts Development Finance Agency Revenue Bonds,

Lawrence General Hospital Issue, Series 2014A

.000

07/01/26

832,529

680,000

Massachusetts Development Finance Agency Revenue Bonds,

Lawrence General Hospital Issue, Series 2014A

.000

07/01/27

674,719

925,000

Massachusetts Development Finance Agency Revenue Bonds,

Lawrence General Hospital Issue, Series 2014A

.000

07/01/28

910,766

960,000

Massachusetts Development Finance Agency Revenue Bonds,

Lawrence General Hospital Issue, Series 2014A

.000

07/01/29

939,486

4,800,000

(d) Massachusetts Development Finance Agency Revenue

Refunding Bonds, NewBridge on the Charles, Inc. Issue, Series

2017

.000

10/01/32

4,830,753

1,968,811

(d),(g)

Massachusetts Development Finance Agency, Health Care

Facility Revenue Bonds, Adventcare Project, Series 2007A

.650

10/15/28

1,295,000

Massachusetts Development Finance Agency, Revenue Bonds,

Amherst College, Series 2025A, (Mandatory Put 11/01/35)

.000

11/01/55

1,506,998

1,925,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2016E

.375

07/01/36

1,824,409

6,950,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston University, Refunding Series 2025B-1

.000

10/01/39

7,747,970

2,300,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/33

2,414,920

1,085,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/38

1,119,730

16,815,000

Massachusetts Development Finance Agency, Revenue Bonds,

Harvard University, Series 2025A-2, (Mandatory Put 11/15/35)

.000

05/15/55

19,539,375

415,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (Pre-

refunded 7/15/30)

.000

07/15/32

461,750

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MASSACHUSETTS

(continued)

$

320,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (Pre-

refunded 7/15/30)

.000

%

07/15/33

$

356,048

300,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (Pre-

refunded 7/15/30)

.000

07/15/34

333,795

270,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (Pre-

refunded 7/15/30)

.000

07/15/35

300,416

135,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (Pre-

refunded 7/15/30)

.000

07/15/36

150,208

145,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (Pre-

refunded 7/15/30)

.000

07/15/37

161,334

250,000

Massachusetts Development Finance Agency, Revenue Bonds,

Phillips Academy, Refunding Series 2024A

.000

09/01/30

281,913

425,000

Massachusetts Development Finance Agency, Revenue Bonds,

Phillips Academy, Refunding Series 2024A

.000

09/01/32

490,795

1,080,000

Massachusetts Development Finance Agency, Revenue Bonds,

Simmons University Issue, Series 2018L

.000

10/01/30

1,106,714

1,240,000

Massachusetts Development Finance Agency, Revenue Bonds,

Simmons University Issue, Series 2018L

.000

10/01/31

1,265,549

1,775,000

Massachusetts Development Finance Agency, Revenue Bonds,

Simmons University Issue, Series 2018L

.000

10/01/32

1,804,387

1,130,000

Massachusetts Development Finance Agency, Revenue Bonds,

Southcoast Health System Obligated Group Issue, Series

2021G

.000

07/01/35

1,215,173

1,045,000

Massachusetts Development Finance Agency, Revenue Bonds,

Southcoast Health System Obligated Group Issue, Series

2021G

.000

07/01/36

1,116,182

4,250,000

Massachusetts Development Finance Agency, Revenue Bonds,

UMass Memorial Health Care Obligated Group Issue, Series

2017L

.625

07/01/37

3,795,888

4,245,000

Massachusetts Development Finance Agency, Revenue Bonds,

Wellforce Issue, Series 2019A

.000

07/01/37

3,980,081

1,640,000

Massachusetts Housing Finance Agency, Housing Bonds,

Series 2019B-1

.000

12/01/39

1,419,896

2,875,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2021A-1

.125

12/01/41

2,034,511

2,100,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2023A-3

.050

12/01/27

2,109,227

3,000,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Series 2019C-1

.900

12/01/39

2,468,663

1,900,000

Massachusetts Housing Finance Agency, Multifamily Housing

Bonds, Green Sustainability Series 2024A1

.550

12/01/44

1,905,361

5,350,000

Massachusetts Housing Finance Agency, Multifamily Housing

Bonds, Green Sustainability Series 2024B3

.500

06/01/29

5,408,359

7,570,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Series 2019-214

.800

12/01/39

6,259,553

2,330,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Series 2020-218

.300

12/01/40

1,766,245

4,930,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2020-220

.125

12/01/40

3,552,090

4,935,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2021-221

.200

12/01/41

3,578,231

2,935,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2021-223

.350

06/01/39

2,416,802

1,555,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2024-234

.100

12/01/39

1,536,211

5,555,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/33

6,426,444

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MASSACHUSETTS

(continued)

$

14,035,000

Massachusetts State, General Obligation Bonds, Consolidated

Loan Series 2025B

.000

%

06/01/33

$

16,297,907

8,680,000

Massachusetts State, General Obligation Bonds, Consolidated

Loan Series 2025B

.000

06/01/34

10,137,753

2,800,000

Massachusetts State, General Obligation Bonds, Refunding

Series 2024B

.000

11/01/37

3,152,938

2,800,000

Massachusetts State, General Obligation Bonds, Refunding

Series 2024B

.000

11/01/38

3,122,694

12,115,000

Massachusetts State, Special Obligation Dedicated Tax

Revenue Bonds, Refunding Series 2005 - BAM Insured

.500

01/01/34

13,934,710

6,750,000

Quincy, Massachusetts, General Obligation Bonds, Bonds

Anticipation Notes Series 2025

.000

07/24/26

6,881,304

7,000,417

Somerville, Massachusetts, General Obligation Bonds, Bond

Anticipation Notes Series 2025B

.000

07/01/26

7,122,418

TOTAL MASSACHUSETTS

195,489,749

MICHIGAN - 2.4%

685,000

Marquettte, Michigan, Electric Utility System Revenue Bonds,

Refunding Series 2016A

.000

07/01/30

694,814

1,315,000

Michigan Finance Authority, Hospital Revenue Bonds,

Bronson Healthcare Group, Inc., Series 2019B, (Mandatory Put

11/16/26)

.000

11/15/44

1,325,442

11,740,000

Michigan Finance Authority, Hospital Revenue Bonds, McLaren

Health Care, Refunding Series 2015D-1, (Mandatory Put

4/13/28)

.200

10/15/30

11,183,593

17,365,000

Michigan Finance Authority, Hospital Revenue Bonds, McLaren

Health Care, Refunding Series 2015D-2, (Mandatory Put

4/13/28)

.200

10/15/38

16,501,319

1,000,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/32

1,126,950

1,500,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/33

1,698,090

1,230,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/34

1,394,409

10,625,000

Michigan Finance Authority, Michigan, Revenue Bonds, Trinity

Health Credit Group, Refunding Series 2022B-MI, (Mandatory

Put 12/01/28)

.000

12/01/43

11,254,369

1,800,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/28

1,887,753

2,500,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/33

2,649,033

2,435,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/34

2,440,534

1,000,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/35

993,617

2,470,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2018A

.800

10/01/38

2,413,238

8,730,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2021A

.250

10/01/41

6,347,016

7,700,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2024A

.700

04/01/30

7,715,385

2,255,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Fixed Rate Series 2018C

.650

12/01/39

2,113,826

13,000,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2019B

.950

12/01/39

10,782,563

25,205,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2020C

.600

12/01/40

19,631,733

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MICHIGAN

(continued)

$

9,620,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2021A

.150

%

12/01/41

$

6,788,676

20,000,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2025I

.000

04/15/33

23,067,508

22,850,000

Michigan Strategic Fund, Limited Obligation Pollution Control

Revenue Refunding Bonds, Detroit Edison Company, Variable

Rate Demand Obligations, Series 1995CC

.450

09/01/30

20,351,266

21,550,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Detroit Edison Company Exempt Facilities Project, Refunding

Variable Rate Series 2008ET-2

.350

08/01/29

19,659,515

2,255,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Graphic Packaging International, LLC Coated Recycled Board

Machine Project, Green Series 2021, (AMT), (Mandatory Put

10/01/26)

.000

10/01/61

2,254,053

8,125,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Refunding Series

2015F, (AMT)

.000

12/01/28

8,152,716

3,765,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Refunding Series

2015F, (AMT)

.000

12/01/32

3,773,318

5,295,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Refunding Series

2015F, (AMT)

.000

12/01/33

5,305,561

5,000,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Refunding Series

2015F, (AMT)

.000

12/01/34

5,008,936

TOTAL MICHIGAN

196,515,233

MINNESOTA - 1.7%

1,910,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A

.000

02/15/33

1,986,654

1,150,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A

.000

02/15/37

1,182,686

7,135,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A

.250

02/15/43

6,729,156

7,550,000

Edina Independent School District 273, Hennepin County,

Minnesota, General Obligation Bonds, Facilities Maintenance

Capital Notes Alternative Facilities and School Building

Refunding Series 2024A

.000

02/01/28

7,990,795

6,585,000

Edina Independent School District 273, Hennepin County,

Minnesota, General Obligation Bonds, Facilities Maintenance

Capital Notes Alternative Facilities and School Building

Refunding Series 2024A

.000

02/01/36

6,369,043

12,490,000

Minneapolis, Minnesota, Health Care System Revenue Bonds,

Allina Health System, Series 2023A, (Mandatory Put 11/15/28)

.000

11/15/52

13,196,808

1,370,000

Minneapolis-Saint Paul Housing and Redevelopment Authority,

Minnesota, Health Care System Revenue Bonds, Allina Health

System, Refunding Series 2017A

.000

11/15/28

1,415,588

5,000,000

Minneapolis-Saint Paul Metropolitan Council, Minnesota,

General Obligation Wastewater Revenue Bonds, Series 2015C

.500

03/01/28

5,002,810

1,000,000

Minneapolis-St. Paul Metropolitan Airports Commission,

Minnesota, Airport Revenue Bonds, Refunding Subordinate

Lien Series 2019B, (AMT)

.000

01/01/27

1,025,156

1,000,000

Minneapolis-St. Paul Metropolitan Airports Commission,

Minnesota, Airport Revenue Bonds, Subordinate Lien Series

2022B, (AMT)

.000

01/01/31

1,095,209

3,222,870

Minnesota Housing Finance Agency, Homeownership Finance

Bonds, Mortgage-Backed Securities Program, Series 2017E

.850

06/01/47

2,762,317

2,450,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2013C

.900

07/01/43

2,269,011

6,065,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020B

.625

01/01/40

4,818,627

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA

(continued)

$

5,140,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020B

.500

%

07/01/50

$

5,139,085

5,430,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020E

.500

07/01/40

4,205,763

4,605,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020I

.000

07/01/40

3,207,831

4,110,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2021D

.200

07/01/41

2,996,558

9,245,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2021H

.350

07/01/41

6,935,887

10,070,000

Minnesota State, Certificates of Participation, State Office

Building Project, Series 2023

.000

11/01/36

11,375,387

10,060,000

(f) Minnesota State, General Obligation Bonds, State Trunk

Highway Series 2021B

.000

08/01/32

11,569,670

14,745,000

(f) Minnesota State, General Obligation Bonds, State Trunk

Highway Series 2021B

.000

08/01/33

17,106,154

4,160,000

Rochester, Minnesota, Health Care Facilities Revenue Bonds,

Mayo Clinic, Series 2025B, (Mandatory Put 5/15/32)

.000

11/15/55

4,664,900

6,445,000

Saint Paul Independent School District 625, Ramsey County,

Minnesota, Certificates of Participation, Series 2018B

.500

02/01/39

6,267,607

2,650,000

White Bear Lake Independent School District 624, Ramsey

County, Minnesota, General Obligation Bonds, Facilities

Maintenance Series 2021A

.000

02/01/28

2,549,165

3,095,000

White Bear Lake Independent School District 624, Ramsey

County, Minnesota, General Obligation Bonds, Facilities

Maintenance Series 2021A

.000

02/01/29

2,930,890

4,135,000

White Bear Lake Independent School District 624, Ramsey

County, Minnesota, General Obligation Bonds, Facilities

Maintenance Series 2021A

.000

02/01/30

3,855,185

TOTAL MINNESOTA

138,647,942

MISSISSIPPI - 0.3%

5,595,000

Mississippi Business Finance Corporation, Pollution Control

Revenue, Mississippi Power, Series 2002

.200

09/01/28

5,596,451

1,000,000

Mississippi Business Finance Corporation, Revenue Bonds,

System Energy Resources, Inc. Project, Refunding Series 2021

.375

06/01/44

626,760

2,490,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2020A

.450

12/01/39

2,058,445

1,975,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2020A

.750

06/01/49

1,989,447

1,470,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2021A

.000

12/01/40

1,043,373

2,830,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2024A

.000

12/01/39

2,789,610

6,560,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2024C

.650

12/01/44

6,662,439

2,000,000

Mississippi State, Gaming Tax Revenue Bonds, Series 2019A

.000

10/15/37

2,062,716

1,590,000

Mississippi State, Gaming Tax Revenue Bonds, Series 2019A

.000

10/15/38

1,556,247

1,000,000

Mississippi State, General Obligation Bonds, Refunding Series

2015C

.000

10/01/25

1,000,000

TOTAL MISSISSIPPI

25,385,488

MISSOURI - 1.4%

920,000

Cape Girardeau County Industrial Development Authority,

Missouri, Health Facilities Revenue Bonds, Southeasthealth,

Series 2016A

.000

03/01/33

930,681

1,000,000

Curators of the University of Missouri, System Facilities

Revenue Bonds, Series 2024

.000

11/01/34

1,173,167

3,730,000

Kansas City Industrial Development Authority, Missouri, Airport

Special Obligation Bonds, Kansas City International Airport

Project, Refunding Series 2019A, (AMT)

.000

03/01/38

3,824,206

8,000,000

Kansas City, Missouri, Sanitary Sewer System Revenue Bonds,

Refunding & Improvement Series 2016A

.000

01/01/40

7,990,382

4,595,000

Kansas City, Missouri, Water Revenue Bonds, Series 2017A

.000

12/01/39

4,574,139

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MISSOURI

(continued)

$

4,000,000

Ladue School District, Saint Louis County, Missouri, General

Obligation Bonds, Series 2021

.000

%

03/01/32

$

3,639,505

3,000,000

Lees Summit Industrial Development Authority, Missouri,

Revenue Bonds, John Knox Village, Series 2024A

.000

08/15/39

3,077,658

10,425,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Refunding Series 1998A

.900

09/01/33

9,658,462

12,000,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998B

.900

09/01/33

11,117,654

15,240,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998C

.750

09/01/33

14,100,012

12,105,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Series 2021B,

(Mandatory Put 5/01/26)

.000

05/01/51

12,193,393

2,520,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Series 2025A

.000

04/01/45

2,321,567

11,970,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Series 2025C,

(Mandatory Put 4/01/35)

.000

04/01/59

13,489,413

1,010,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024C

.550

11/01/44

1,007,120

5,085,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024E

.450

11/01/44

5,045,146

2,990,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024G

.950

11/01/39

2,938,388

3,530,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2019C

.750

11/01/39

3,048,646

1,500,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2020A

.550

11/01/40

1,167,690

1,015,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2021A

.150

11/01/41

717,134

4,215,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2021B

.000

11/01/41

2,888,928

6,375,000

North Kansas City School District 74, Missouri, General

Obligation Bonds, Improvement Series 2025

.000

03/01/44

6,804,230

935,000

Stoddard County Industrial Development Authority, Missouri,

Health Facility Revenue Bonds, Southeasthealth, Series 2016B

.000

03/01/37

944,718

TOTAL MISSOURI

112,652,239

MONTANA - 0.5%

1,505,000

Cascade County High School District A Great Falls, Montana,

General Obligation Bonds, School Buidling Series 2018

.000

07/01/38

1,556,757

740,000

Flathead County School District 44 Whitefish, Montana,

General Obligation Bonds, School Building Series 2025 - BAM

Insured

.000

07/01/34

849,855

695,000

Flathead County School District 44 Whitefish, Montana,

General Obligation Bonds, School Building Series 2025 - BAM

Insured

.000

07/01/36

796,593

485,000

Flathead County School District 44 Whitefish, Montana,

General Obligation Bonds, School Building Series 2025 - BAM

Insured

.000

07/01/38

544,031

25,675,000

Forsyth, Montana Pollution Control Revenue Bonds, Portland

General Electric Company Project, Refunding Series 1998A

.125

05/01/33

22,462,300

2,700,000

Forsyth, Rosebud County, Montana, Pollution Control Revenue

Refunding Bonds, Northwestern Corporation Colstrip Project,

Series 2023

.875

07/01/28

2,755,732

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MONTANA

(continued)

$

1,000,000

Gallatin County School District 44 Belgrade, Montana, General

Obligation Bonds, School Building Series 2019

.000

%

06/01/33

$

1,032,073

215,000

Missoula City, Montana, Water System Revenue Bonds, Series

2019A

.000

07/01/44

206,250

1,045,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2021A-1

.000

12/01/41

715,281

1,720,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2021B

.000

12/01/41

1,177,305

1,000,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2024A

.950

12/01/39

983,569

1,000,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2024A

.450

12/01/44

991,642

490,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2024B

.900

12/01/39

478,481

810,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2024B

.300

12/01/44

795,066

2,000,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2025A

.250

12/01/40

2,017,992

565,000

Montana Facility Finance Authority, Montana, Health Facilities

Reveue Bonds, Bozeman Deaconess Health Services Obligated

Group, Series 2018

.250

06/01/32

560,840

1,875,000

Montana Facility Finance Authority, Revenue Bonds, Benefis

Health System Obligated Group, Series 2025A, (Mandatory Put

2/15/30)

.000

02/15/65

2,040,178

TOTAL MONTANA

39,963,945

NATIONAL - 0.5%

18,650,000

(d) Federal Home Loan Mortgage Corporation, National,

Multifamily Variable Rate Certificates Relating to Corporate

Taxable Debt Series 2019

.150

01/15/36

16,869,906

18,444,716

Federal Home Loan Mortgage Corporation, National,

Multifamily Variable Rate Certificates Relating to Municipal

Securities Class A Series 2019M-053

.550

06/15/35

16,411,062

5,023,457

Freddie Mac Multi-Family ML Certificates, Series ML 05, Series

2019A

.400

01/25/36

4,769,645

TOTAL NATIONAL

38,050,613

NEBRASKA - 0.9%

6,640,000

Central Plains Energy Project, Nebraska, Gas Project 4 Revenue

Bonds, Refunding Series 2023A-1, (Mandatory Put 11/01/29)

.000

05/01/54

7,116,536

2,025,000

Douglas County Hospital Authority 2, Nebraska, Hospital

Revenue Bonds, Madonna Rehabilitation Hospital Project,

Series 2014

.000

05/15/28

2,026,651

8,520,000

Douglas County Hospital Authority 2, Nebraska, Hospital

Revenue Bonds, Madonna Rehabilitation Hospital Project,

Series 2014

.000

05/15/44

8,389,685

1,000,000

Lincoln, Nebraska, Airport Revenue Bonds, Series 2021, (AMT)

.000

07/01/36

995,716

750,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/26

750,546

200,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/27

200,126

835,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/28

835,501

485,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/29

485,283

1,000,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/30

1,000,517

180,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/33

180,064

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEBRASKA

(continued)

$

160,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2019D

.600

%

09/01/34

$

144,007

7,205,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2019D

.850

09/01/39

6,025,013

10,000,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2020A

.550

09/01/40

7,742,332

595,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2021A

.950

09/01/37

470,739

17,770,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2021C

.300

09/01/41

13,078,464

2,290,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2023A

.125

09/01/38

2,289,402

1,580,000

Papillion-LaVista School District 27, Sarpy County, Nebraska,

General Obligation Bonds, Refunding Series 2020B

.000

12/01/26

1,608,686

1,775,000

Sarpy County School District 037 Gretna Public Schools,

Nebraska, General Obligation Bonds, Refunding Series 2019

.000

06/15/33

1,822,826

2,240,000

Sarpy County, Nebraska, Limited Tax Highway Allocation Fund

Pledge Bonds, Series 2021

.000

06/01/27

2,196,959

6,320,000

Saunders County School District 1, Ashland-Greenwood,

Nebraska, General Obligation Bonds, Series 2021

.000

12/15/50

3,347,770

3,660,000

Scotts Bluff County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Regional West Medical Center Project,

Refunding & Improvement Series 2016A

.250

02/01/28

3,684,991

1,355,000

Scotts Bluff County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Regional West Medical Center Project,

Refunding & Improvement Series 2016A

.250

02/01/29

1,362,403

5,885,000

Southeast Community College Area, Nebraska, Certificates of

Participation, Series 2018

.375

12/15/37

5,727,414

TOTAL NEBRASKA

71,481,631

NEVADA - 0.3%

1,875,000

(c),(d)

Director of the State of Nevada Department of Business and

Industry, Solid Waste Disposal Revenue Bonds, Republic

Services Inc., Variable Rate Demand Series 2001, (AMT),

(Mandatory Put 12/01/25)

.950

12/01/26

1,874,755

1,615,000

Henderson, Nevada, Limited Obligation Bonds, Local

Improvement District T-18 Inspirada, Refunding Series 2016

.000

09/01/32

1,590,624

2,095,000

Henderson, Nevada, Limited Obligation Bonds, Local

Improvement District T-18 Inspirada, Refunding Series 2016

.000

09/01/35

1,999,001

3,585,000

Las Vegas Convention and Visitors Authority, Nevada, Revenue

Bonds, Refunding Series 2017B

.000

07/01/34

3,615,421

2,860,000

Nevada Housing Division, Single Family Housing Mortgage

Revenue Bonds, Refunding Series 2021A

.200

10/01/41

2,078,360

3,670,000

Nevada Housing Division, Single Family Housing Mortgage

Revenue Bonds, Senior Series 2025C

.750

10/01/40

3,768,365

860,000

(d) Sparks, Nevada, Sales Tax Revenue Bonds, Tourism

Improvement District 1 Legends at Sparks Marina, Refunding

Senior Series 2019A

.750

06/15/28

845,691

6,760,000

Washoe County School District, Nevada, General Obligation

Bonds, Limited Tax Improvement Series 2024B

.000

06/01/38

6,012,010

4,000,000

Washoe County, Nevada, Gas and Water Facilities Revenue

Bonds, Sierra Pacific Power Company, Refunding Series 2016B,

(Mandatory Put 10/01/29)

.625

03/01/36

4,043,936

TOTAL NEVADA

25,828,163

NEW HAMPSHIRE - 1.4%

16,740,139

National Finance Authority, New Hampshire, Municipal

Certificates Series 2020-1 Class A

.125

01/20/34

16,840,054

15,190,140

National Finance Authority, New Hampshire, Municipal

Certificates Series 2022-2 Class A

.000

10/20/36

14,585,121

2,922,874

National Finance Authority, New Hampshire, Municipal

Certificates Social Series 2023-2 Class A

.875

01/20/38

2,715,277

12,815,961

National Finance Authority, New Hampshire, Municipal

Certificates Social Series 2024-1 Class A

.250

07/01/51

12,450,233

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW HAMPSHIRE

(continued)

$

5,569,459

National Finance Authority, New Hampshire, Municipal

Certificates Social Series 2024-2 Class A

.625

%

08/20/39

$

5,215,382

5,755,371

National Finance Authority, New Hampshire, Municipal

Certificates Social Series 2024-4 Class A

.180

11/20/39

5,634,037

6,395,000

National Finance Authority, New Hampshire, Solid Waste

Disposal Revenue Bonds, Waste Management, INC., Project,

Refunding Series 2018A, (AMT), (Mandatory Put 7/01/26)

.000

10/01/33

6,399,200

14,000,000

New Hampshire Business Finance Authority, Pollution Control

Revenue Bonds, United Illuminating Company, Refunding

Series 2003A

.500

10/01/33

14,657,141

1,145,000

(e) New Hampshire Business Finance Authority, Water Facility

Revenue Bonds, Pennichuck Water Works Inc. Project , Series

2015A., (Pre-refunded 1/01/26), (AMT)

.250

01/01/36

1,147,981

1,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Concord Hospital, Series 2021A

.000

10/01/32

1,035,714

1,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Concord Hospital, Series 2021A

.000

10/01/34

1,020,137

1,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Concord Hospital, Series 2021A

.000

10/01/38

983,188

4,305,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth College, Series 2025A

.000

06/01/35

4,992,519

2,830,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth-Hitchcock Obligated Group, Series

2025

.000

08/01/32

3,159,790

1,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Elliot Hospital, Series 2016

.000

10/01/38

1,005,916

1,465,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Southern New Hampshire Medical Center,

Series 2016

.500

10/01/34

1,457,912

1,515,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2024A

.050

07/01/39

1,508,888

1,965,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2024A

.500

07/01/44

1,948,660

10,370,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2024C

.450

07/01/44

10,283,431

2,505,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2025A

.150

07/01/40

2,514,691

2,380,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2025A

.500

07/01/45

2,365,049

TOTAL NEW HAMPSHIRE

111,920,321

NEW JERSEY - 2.9%

1,580,000

Borough of Fair Lawn, Bergen County, New Jersey, General

Obligation Bonds, General Capital and Water Utility Series

2021

.000

09/01/32

1,427,103

1,220,000

Clifton, New Jersey, General Obligation Bonds, Refunding

Series 2021 - BAM Insured

.000

08/15/29

1,159,311

2,075,000

Clifton, New Jersey, General Obligation Bonds, Refunding

Series 2021 - BAM Insured

.000

08/15/30

1,935,738

2,060,000

Clifton, New Jersey, General Obligation Bonds, Refunding

Series 2021 - BAM Insured

.000

08/15/31

1,875,382

2,390,000

East Brunswick Township, Middlesex County, New Jersey,

General Obligation Bonds, Series 2020

.000

07/15/30

2,254,048

1,095,000

East Brunswick Township, Middlesex County, New Jersey,

General Obligation Bonds, Series 2021

.000

02/15/26

1,089,732

1,385,000

East Brunswick Township, Middlesex County, New Jersey,

General Obligation Bonds, Series 2021

.000

02/15/27

1,362,655

1,355,000

East Brunswick Township, Middlesex County, New Jersey,

General Obligation Bonds, Series 2021

.000

02/15/30

1,284,561

1,410,000

Flemington-Raritan Regional School District, Hunterdon

County, New Jersey, General Obligation Bonds, Series 2019

.375

09/01/34

1,233,864

1,585,000

Gloucester Township, New Jersey, General Obligation Bonds,

Series 2019 - BAM Insured

.250

02/01/29

1,536,151

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW JERSEY

(continued)

$

1,435,000

Montclair Township Board of Education, Essex County, New

Jersey, General Obligation Bonds, School Series 2025

.250

%

08/01/43

$

1,428,815

2,600,000

(d) New Jersey Economic Development Authority, New Jersey,

Dock and Wharf Facility Revenue Bonds, Repauno Port & Rail

Terminal Project, Series 2025, (AMT)

.375

01/01/35

2,688,660

4,115,000

New Jersey Economic Development Authority, New Jersey,

Transit Transportation Project Revenue Bonds, Series 2020A

.000

11/01/32

4,454,490

1,555,000

New Jersey Economic Development Authority, Private Activity

Bonds, The Goethals Bridge Replacement Project, Series 2013,

(AMT)

.000

01/01/28

1,557,983

2,345,000

New Jersey Economic Development Authority, Private Activity

Bonds, The Goethals Bridge Replacement Project, Series 2013

- AGM Insured, (AMT)

.000

01/01/31

2,349,760

2,000,000

New Jersey Economic Development Authority, Private Activity

Bonds, The Goethals Bridge Replacement Project, Series 2013,

(AMT)

.375

01/01/43

2,001,578

7,290,000

New Jersey Economic Development Authority, Revenue Bonds,

Motor Vehicle Surcharge, Refunding Subordinate Series 2017A

.375

07/01/30

7,235,934

25,000,000

New Jersey Economic Development Authority, School Facilities

Construction Bonds, Refunding Series 2015XX

.000

06/15/27

25,024,723

700,000

New Jersey Economic Development Authority, School Facilities

Construction Bonds, Social Series 2021QQQ

.000

06/15/26

711,460

140,000

New Jersey Economic Development Authority, School Facilities

Construction Bonds, Social Series 2021QQQ

.000

06/15/27

145,787

430,000

New Jersey Economic Development Authority, School Facilities

Construction Bonds, Social Series 2021QQQ

.000

06/15/28

457,858

5,000,000

New Jersey Economic Development Authority, Special Facility

Revenue Bonds, Port Newark Container Terminal LLC Project,

Refunding Series 2017, (AMT)

.000

10/01/47

4,948,527

37,560,000

New Jersey Economic Development Authority, Water Facilities

Revenue Bonds, New Jersey-American Water Company Inc.

Project, Refunding Series 2019A, (AMT), (Mandatory Put

12/03/29)

.200

10/01/39

34,596,463

5,310,000

New Jersey Economic Development Authority, Water Facilities

Revenue Bonds, New Jersey-American Water Company

Inc. Project, Refunding Series 2020B, (AMT), (Mandatory Put

6/01/28)

.750

11/01/34

5,357,505

6,510,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Princeton University, Series 2025A, (Mandatory Put 7/01/35)

.000

07/01/64

7,493,096

3,345,000

New Jersey Health Care Facilities Authority, Revenue Bonds,

Atlanticare Health System Obligated Group Issue, Series 2021

.375

07/01/46

2,119,550

1,230,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Saint Joseph's Healthcare System Obligated Group

Issue, Refunding Series 2016

.000

07/01/35

1,234,773

205,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Senior Lien Series 2017-1A,

(AMT)

.500

12/01/29

204,922

530,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Senior Lien Series 2017-1A,

(AMT)

.750

12/01/31

529,917

540,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Senior Lien Series 2017-1A,

(AMT)

.000

12/01/32

540,064

235,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Senior Lien Series 2017-1A,

(AMT)

.750

12/01/33

234,897

515,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Series 2018A

.750

10/01/35

516,637

1,100,000

New Jersey Institute of Technology, New Jersey, General

Obligation Bonds, Series 2025A - BAM Insured

.000

07/01/36

1,270,748

915,000

New Jersey Institute of Technology, New Jersey, General

Obligation Bonds, Series 2025A - BAM Insured

.000

07/01/37

1,045,868

155,000

New Jersey Transportation Trust Fund Authority, Federal

Highway Reimbursement Revenue Notes, Series 2016A-1

.000

06/15/29

157,521

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW JERSEY

(continued)

$

3,015,000

New Jersey Transportation Trust Fund Authority, Federal

Highway Reimbursement Revenue Notes, Series 2018A

.000

%

06/15/28

$

3,064,363

6,800,000

New Jersey Transportation Trust Fund Authority, Federal

Highway Reimbursement Revenue Notes, Series 2018A

.000

06/15/29

6,910,597

5,635,000

New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Forward Delivery Series 2022AA

.000

06/15/33

6,336,630

5,020,000

New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2022BB

.000

06/15/42

4,747,272

1,830,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Refunding Series 2006C - FGIC Insured

.000

12/15/31

1,512,284

10,230,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019A

.000

12/15/33

11,025,083

5,265,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019A

.000

12/15/39

5,190,966

7,570,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019AA

.750

06/15/33

7,640,403

6,190,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019BB

.000

06/15/33

6,557,662

2,570,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2020AA

.000

06/15/36

2,597,780

1,845,000

New Jersey Turnpike Authority, Turnpike Revenue Bonds,

Series 2025B

.000

01/01/34

2,125,417

2,825,000

Ocean City, New Jersey, General Obligation Bonds, General

Improvement Series 2019

.250

09/15/33

2,527,603

2,345,000

Ocean City, New Jersey, General Obligation Bonds, Refunding

General Improvement Series 2016

.000

11/15/28

2,198,519

1,530,000

South Orange & Maplewood School District, Essex County,

New Jersey, General Obligation Bonds, Series 2021

.125

08/15/42

1,024,929

6,190,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/28

6,534,075

14,150,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/29

14,914,154

3,320,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/31

3,478,381

2,180,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/34

2,251,788

6,205,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/36

6,355,401

11,265,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/37

10,956,971

2,270,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018B

.000

06/01/46

2,218,349

2,585,000

Toms River Board of Education, Ocean County, New Jersey,

General Obligation Bonds, Regional Schools Series 2019

.000

07/15/26

2,542,653

1,425,000

Willingboro Township Board of Education, New Jersey,

General Obligation Bonds, School Series 2025

.125

08/15/42

1,413,240

TOTAL NEW JERSEY

237,590,601

NEW MEXICO - 0.5%

6,355,000

Farmington, New Mexico, Pollution Control Revenue Bonds,

Public Service Company of New Mexico San Juan and Four

Corners Projects, Refunding Series 2016B

.150

04/01/33

5,492,800

1,160,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2018B

.750

07/01/38

1,150,181

3,110,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2018C

.750

07/01/38

3,079,815

3,305,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2019D

.000

07/01/39

2,925,029

2,050,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2019F

.850

07/01/39

1,725,543

2,485,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021A

.150

07/01/41

1,764,171

4,845,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021C

.100

07/01/41

3,405,851

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW MEXICO

(continued)

$

3,490,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021D

.350

%

07/01/41

$

2,618,307

1,060,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024C

.100

09/01/39

1,050,451

1,950,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024C

.600

09/01/44

1,967,632

7,205,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024E

.450

09/01/44

7,145,657

590,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024G

.100

09/01/39

584,685

3,700,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024G

.375

09/01/44

3,634,478

2,360,000

New Mexico Municipal Energy Acquisition Authority, Gas

Supply Revenue Bonds, Refunding & Acquisition Series 2025,

(Mandatory Put 11/01/30)

.000

06/01/54

2,542,398

TOTAL NEW MEXICO

39,086,998

NEW YORK - 5.3%

1,250,000

Battery Park City Authority, New York, Revenue Bonds, Senior

Series 2023B

.000

11/01/35

1,435,492

650,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Albert Einstein College of Medicine, Inc, Series 2023

.250

06/01/55

675,349

3,390,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020A-1

.250

06/01/40

3,224,063

4,030,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020B-1

.000

06/01/40

3,733,812

1,575,000

Dormitory Authority of the State of New York, General Revenue

Bonds, Saint Johns University, Series 2025

.000

07/01/34

1,790,668

1,650,000

Dormitory Authority of the State of New York, General Revenue

Bonds, Saint Johns University, Series 2025

.000

07/01/36

1,854,474

5,000,000

Dormitory Authority of the State of New York, Revenue Bonds,

Northwell Healthcare Inc, Series 2019B-1, (Mandatory Put

11/01/28)

.800

05/01/48

4,802,453

1,900,000

(d) Dormitory Authority of the State of New York, Revenue Bonds,

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/25

1,901,219

1,400,000

(d) Dormitory Authority of the State of New York, Revenue Bonds,

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/27

1,414,407

1,300,000

(d) Dormitory Authority of the State of New York, Revenue Bonds,

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/29

1,313,029

1,100,000

Dormitory Authority of the State of New York, Revenue Bonds,

School Districts Financing Program, Series 2025A

.000

10/01/28

1,185,497

3,000,000

Dormitory Authority of the State of New York, Revenue Bonds,

School Districts Financing Program, Series 2025A

.000

10/01/29

3,306,354

5,140,000

Dormitory Authority of the State of New York, State Personal

Income Tax Revenue Bonds, General Purpose Series 2016A

Group A

.000

02/15/37

5,197,195

6,965,000

(e) Dormitory Authority of the State of New York, State Personal

Income Tax Revenue Bonds, General Purpose, Series 2018A,

(ETM)

.000

03/15/28

7,411,283

8,330,000

Dormitory Authority of the State of New York, State Sales Tax

Revenue Bonds, Series 2018A

.000

03/15/40

8,567,550

1,000,000

Erie County, New York, General Obligation Bonds, Public

Improvement Series 2025A

.000

09/15/35

1,180,644

2,400,000

Erie County, New York, General Obligation Bonds, Public

Improvement Series 2025A

.000

09/15/36

2,780,937

2,000,000

Erie County, New York, General Obligation Bonds, Public

Improvement Series 2025A

.000

09/15/37

2,304,073

5,000,000

Hudson Yards Infrastructure Corporation, New York, Revenue

Bonds, Second Indenture Fiscal 2017 Series A - BAM Insured

.000

02/15/42

5,076,610

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

6,000,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020D-1

.000

%

11/15/43

$

6,125,806

8,000,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Refunding Series 2025A

.000

11/15/41

8,507,370

1,195,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Refunding Series 2016D

.000

11/15/31

1,223,720

6,000,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Series 2021A-2

.000

11/15/42

5,544,588

1,140,000

Monroe County Industrial Development Corporation, New

York, Revenue Bonds, Saint Ann's Community Project, Series

2019

.000

01/01/30

1,122,083

1,910,000

Monroe County Industrial Development Corporation, New

York, Revenue Bonds, Saint Ann's Community Project, Series

2019

.000

01/01/40

1,817,113

1,525,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/28

1,526,735

1,000,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/29

1,001,095

655,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014B

.000

07/01/30

655,689

2,455,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014B

.000

07/01/32

2,456,989

5,975,000

Nassau County, New York, General Obligation Bonds, General

Improvement Series 2025A

.000

04/01/36

6,897,407

5,200,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2025B-2, (Mandatory Put 7/02/29)

.950

11/01/64

5,335,403

1,630,000

New York City Industrial Development Agency, New York,

PILOT Payment in Lieu of Taxes Revenue Bonds, Queens

Baseball Stadium Project, Refunding Series 2021A - AGM

Insured

.000

01/01/32

1,698,134

1,050,000

New York City Industrial Development Agency, New York,

PILOT Payment in Lieu of Taxes Revenue Bonds, Queens

Baseball Stadium Project, Refunding Series 2021A - AGM

Insured

.000

01/01/33

1,021,924

6,200,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2019 Series A-1

.000

08/01/40

6,404,764

8,050,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2022 Subseries F-1

.000

02/01/43

8,419,346

3,020,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2025 Subseries Series

.000

11/01/39

3,329,226

7,240,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2024G-1

.000

05/01/41

7,845,286

5,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025C-1

.000

05/01/39

5,533,798

10,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025C-1

.000

05/01/40

10,947,382

5,185,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025E

.000

11/01/39

5,715,907

2,550,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Series 2024B

.000

05/01/38

2,807,608

11,260,000

New York City, New York, General Obligation Bonds, Fiscal

2018 Series F-1

.000

04/01/43

11,502,374

11,000,000

New York City, New York, General Obligation Bonds, Fiscal

2026 Series B-1

.000

08/01/31

12,412,521

5,000

New York City, New York, General Obligation Bonds, Refunding

Fiscal 2015 Series C

.000

08/01/29

5,009

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

345,000

New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 7 World Trade Center Project, Refunding

Green Series 2022A-CL2

.125

%

09/15/50

$

257,299

5,000,000

New York State Energy Research and Development Authority,

Pollution Control Revenue Bonds, Rochester Gas and Electric

Corporation, Series 2004B, (AMT)

.000

05/15/32

5,111,344

600,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Green Bond Series

2018I

.625

11/01/33

602,376

2,000,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Green Bond Series

2018I

.875

11/01/38

1,969,303

2,115,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Sustainability Series

2019P

.600

11/01/34

1,870,376

10,105,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Sustainability Series

2019P

.850

11/01/39

8,289,472

8,105,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Refunding Series 2019C

.850

11/01/39

7,937,817

17,620,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Refunding Series 2020H

.300

11/01/40

13,350,683

3,190,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Sustainability Green Series 2024C-1

.375

11/01/44

3,166,877

4,400,000

New York State Housing Finance Agency, Housing Revenue

Bonds, 160 West 2nd Street Series 2011A-2, (Mandatory Put

4/01/32)

.600

11/01/44

4,469,610

5,000,000

New York State Housing Finance Agency, State Personal

Income Tax Revenue Bonds, Sustainability Series 2024A-2,

(Mandatory Put 6/15/29)

.350

06/15/54

5,023,386

9,725,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 223

.000

10/01/39

8,566,156

10,175,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 225

.300

10/01/40

7,637,832

6,000,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 227

.300

10/01/40

4,503,881

21,935,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 231

.400

10/01/41

16,538,670

5,335,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 233

.200

04/01/36

4,380,466

12,255,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Social Series 239

.450

10/01/41

9,213,956

1,000,000

New York State Power Authority, General Revenue Bonds,

Green Series 2024A

.000

11/15/33

1,174,791

3,250,000

New York State Power Authority, General Revenue Bonds,

Green Series 2024A

.000

11/15/36

3,747,382

4,950,000

New York State Power Authority, General Revenue Bonds,

Green Series 2024A

.000

11/15/37

5,642,765

755,000

New York State Thruway Authority, General Revenue Bonds,

Refunding Series 2024Q

.000

01/01/28

800,793

1,190,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/30

1,191,439

910,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/32

910,055

8,075,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/33

8,074,857

8,585,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/34

8,590,537

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

18,530,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

%

07/01/41

$

18,529,051

2,690,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A - AGM Insured, (AMT)

.000

07/01/46

2,406,812

29,965,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.250

01/01/50

29,963,657

1,100,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, American Airlines, Inc. John F

Kennedy International Airport Project, Refunding Series 2016,

(AMT)

.000

08/01/26

1,100,231

2,500,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport New Terminal 1 Project, Green Series 2024, (AMT)

.500

06/30/54

2,543,433

7,800,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

12/01/29

8,398,134

15,020,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2018, (AMT)

.000

01/01/36

14,465,086

1,000,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2023, (AMT)

.000

04/01/35

1,099,807

4,375,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Thirty-Eighth Series 2023, (AMT)

.000

07/15/35

4,780,008

3,180,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Thirty-Eighth Series 2023, (AMT)

.000

07/15/36

3,444,093

1,910,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Thirty-Eighth Series 2023, (AMT)

.000

07/15/37

2,050,934

2,435,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/28

2,439,219

2,695,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/29

2,699,493

4,200,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/30

4,206,733

2,100,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/31

2,103,040

1,335,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/32

1,336,652

3,080,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/33

3,083,161

10,870,000

Suffolk County, New York, General Obligation Bonds, Public

Improvement Series 2024A

.000

10/15/39

9,932,324

1,000,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Senior Series

2021A-2

.000

06/01/32

1,079,117

2,275,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Senior Series

2021A-2

.000

06/01/33

2,434,433

3,750,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, Senior Lien Green Bonds, Series 2022D-2

.000

11/15/39

4,052,891

TOTAL NEW YORK

434,182,818

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NORTH CAROLINA - 0.7%

$

1,745,000

Appalachian State University, North Carolina, Revenue Bonds,

Millennial Campus Indoor Facilities Project Series 2024

.000

%

11/01/28

$

1,870,723

1,000,000

Appalachian State University, North Carolina, Revenue Bonds,

Millennial Campus Indoor Facilities Project Series 2024

.000

11/01/29

1,092,618

10,120,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, DBA Carolinas HealthCare

System, Variable Rate Demand Series 2021B, (Mandatory Put

6/15/27)

.250

01/15/50

10,187,153

4,275,000

Cumberland County Industrial Facilities & Pollution Control

Financing Authority, North Carolina, Solid Waste Disposal

Revenue Bonds, Project Aero, Series 2024, (AMT), (Mandatory

Put 11/01/25)

.750

12/01/27

4,275,646

1,145,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Series 54-A

.550

07/01/44

1,141,209

9,560,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Series 55A

.000

07/01/39

9,551,348

4,280,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Series 55A

.350

01/01/44

4,258,881

1,125,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Social Series 53-A

.000

07/01/39

1,114,590

3,110,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2019-42

.625

07/01/39

2,653,159

4,640,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2020-43

.800

01/01/40

3,772,734

12,735,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2021-47

.300

07/01/41

9,464,447

11,625,000

North Carolina Municipal Power Agency 1, Catawba Electric

Revenue Bonds, Series 2015C

.000

01/01/29

11,691,130

TOTAL NORTH CAROLINA

61,073,638

NORTH DAKOTA - 1.0%

3,505,000

Cass County Joint Water Reserve District, North Dakota,

Temporary Improvement Special Assessment Bonds,

Refunding Series 2024A

.450

04/01/27

3,507,395

1,250,000

Fargo, North Dakota, General Obligation Bonds, Refunding

Improvement Series 2021A

.000

05/01/26

1,250,963

1,320,000

Fargo, North Dakota, General Obligation Bonds, Refunding

Improvement Series 2021A

.000

05/01/27

1,320,887

1,385,000

Fargo, North Dakota, General Obligation Bonds, Refunding

Improvement Series 2021A

.000

05/01/28

1,385,783

5,690,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2021

.000

12/01/32

6,053,476

5,920,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2021

.000

12/01/33

6,252,452

2,675,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2021

.000

12/01/34

2,812,810

500,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/33

448,297

500,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/36

415,986

3,440,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/46

2,243,362

1,795,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.500

05/01/39

1,801,075

2,600,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2019C

.200

07/01/39

2,328,871

2,450,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2020A

.000

07/01/40

2,096,566

4,535,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2020B

.350

07/01/40

3,395,885

6,900,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2021A

.250

07/01/41

5,079,343

10,000,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Social Series 2021B

.450

07/01/41

7,631,674

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NORTH DAKOTA

(continued)

$

5,275,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Social Series 2024A

.550

%

07/01/44

$

5,264,119

5,050,000

North Dakota Housing Finance Agency, Home Mortgage

Program Revenue Bonds, Social Series 2024D

.175

07/01/39

5,042,837

3,785,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/28

3,849,714

3,000,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/29

3,049,214

1,310,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/31

1,327,113

3,480,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/34

3,493,260

10,980,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/38

10,774,829

3,395,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/43

3,246,763

TOTAL NORTH DAKOTA

84,072,674

OHIO - 3.5%

4,465,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/27

4,622,959

6,775,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/28

7,151,593

20,115,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/29

21,591,668

14,970,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/31

16,189,577

10,275,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/32

11,038,116

4,450,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/33

4,746,736

4,045,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/34

4,275,392

1,825,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/35

1,915,363

9,235,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/37

9,048,895

3,810,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/38

3,681,001

2,155,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/39

2,054,266

8,775,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/48

6,221,754

3,850,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/48

3,238,837

13,385,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020B-2 Class 2

.000

06/01/55

11,441,056

6,500,000

Columbus Regional Airport Authority, Ohio, Revenue Bonds,

John Glenn Columbus International Airport, Series 2025A,

(AMT)

.000

01/01/40

6,793,939

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

5,000,000

Columbus Regional Airport Authority, Ohio, Revenue Bonds,

John Glenn Columbus International Airport, Series 2025A,

(AMT)

.250

%

01/01/41

$

5,311,299

2,160,000

Hamilton, Ohio, General Obligation Bonds, Various Purpose,

Limited Tax Bond Anticipation Notes Series 2024

.000

12/17/25

2,164,210

1,115,000

Montgomery County, Ohio, Hospital Facilities Revenue Bonds,

Kettering Health Network Obligated Group Project, Refunding

& Improvement Series 2021

.000

08/01/40

933,395

3,410,000

Muskingum County, Ohio, Hospital Facilities Revenue Bonds,

Genesis HealthCare System Obligated Group Project, Series

2013

.000

02/15/27

3,428,304

7,000,000

Ohio Air Quality Development Authority, Ohio, Pollution

Control Revenue Bonds, FirstEnergy Generation Corporation

Project, Refunding Series 2009D, (Mandatory Put 9/15/21)

.375

08/01/29

6,909,020

2,200,000

Ohio Air Quality Development Authority, Ohio, Pollution

Control Revenue Bonds, FirstEnergy Nuclear Generation

Project, Refunding Series 2009A, (Mandatory Put 6/01/22)

.750

06/01/33

2,293,524

5,350,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2005A, (AMT)

.750

01/01/29

5,367,486

25,825,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2007A, (AMT), (Mandatory Put 10/01/29)

.500

08/01/40

24,717,404

18,600,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2007B, (AMT), (Mandatory Put 10/01/29)

.500

11/01/42

17,802,274

12,570,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2014B, (AMT), (Mandatory Put 10/01/29)

.600

06/01/41

12,077,269

16,950,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Dayton Power & Light Company Project, Refunding

Collateralized Series 2015A, (AMT), (Mandatory Put 6/01/27)

.250

11/01/40

17,335,511

3,025,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Dueke Energy Corporation Project, Refunding Series

2022A, (AMT), (Mandatory Put 6/01/27)

.250

11/01/39

3,088,343

255,000

(d) Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Pratt Paper Ohio, LLC Project, Series 2017, (AMT)

.750

01/15/28

256,615

5,100,000

Ohio Higher Educational Facility Commission, Revenue

Bonds, Case Western Reserve University Project, Series 2019C,

(Mandatory Put 12/01/26)

.625

12/01/34

4,994,370

1,815,000

Ohio Higher Educational Facility Commission, Senior Hospital

Parking Revenue Bonds, University Circle Incorporated 2020

Project, Series 2020

.000

01/15/36

1,882,990

1,950,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2019B

.000

09/01/39

1,720,346

3,585,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2020A

.750

09/01/40

2,872,636

1,390,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2020B

.250

09/01/40

1,048,950

3,605,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2021A

.250

09/01/41

2,648,140

4,865,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2021C

.450

09/01/41

3,706,010

1,335,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A

.350

09/01/44

1,330,840

8,425,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024B

.500

09/01/44

8,409,666

2,900,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Social Series 2025A

.150

09/01/40

2,899,992

7,985,000

Ohio State, Hospital Revenue Bonds, University Hospitals

Health System, Inc., Refunding Series 2016A

.000

01/15/41

7,996,049

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

5,650,000

Ohio State, Turnpike Revenue Bonds, Ohio Turnpike and

Infrastructure Commission, Infrastructure Projects, Junior Lien

Series 2018A

.000

%

02/15/27

$

5,845,467

1,750,000

Olentangy Local School District, Delaware and Franklin

Counties, Ohio, General Obligation Bonds, Refunding Series

2025

.000

12/01/31

2,003,727

1,185,000

Olentangy Local School District, Delaware and Franklin

Counties, Ohio, General Obligation Bonds, Refunding Series

2025

.000

12/01/32

1,368,458

2,725,000

Olentangy Local School District, Delaware and Franklin

Counties, Ohio, General Obligation Bonds, Refunding Series

2025

.000

12/01/33

3,172,039

3,290,000

Toledo-Lucas County Port Authority, Ohio, Development

Revenue Bonds, Northwest Ohio Bond Fund, HB Magruder

Memorial Hospital Project, Series 2021F

.250

11/15/36

2,648,646

725,000

Tuscarawas County Economic Development and Finance

Alliance, Ohio, Higher Education Facilities Revenue Bonds,

Ashland University, Refunding & Improvement Series 2015

.375

03/01/27

725,119

4,800,000

(e) Van Wert County Hospital, Ohio, Revenue Bonds, Van Wert

Health Obligated Group Refunding Facilities Improvement

Series 2020, (Pre-refunded 12/01/29)

.125

12/01/49

5,358,028

11,700,000

Washington County, Ohio, Hospital Facilities Revenue Bonds,

Memorial Health System Obligated Group, Series 2022

.375

12/01/37

12,503,483

TOTAL OHIO

288,830,762

OKLAHOMA - 2.6%

1,065,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Refunding Series 2020

.000

12/01/28

1,106,221

1,775,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Series 2020

.000

09/01/28

1,708,685

1,850,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Series 2020

.000

09/01/29

1,754,153

1,800,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Series 2020

.750

09/01/30

1,771,504

1,790,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Series 2020

.750

09/01/31

1,729,094

7,830,000

Canadian County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Piedmont Public Schools Project, Series

2024

.000

08/15/33

8,131,490

12,345,000

Canadian County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Piedmont Public Schools Project, Series

2024

.000

08/15/34

12,727,159

1,725,000

Carter County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Plainview Public

Schools Project, Series 2021A

.000

12/01/35

1,780,519

10,000,000

Cleveland County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Public

Schools Project, Series 2021

.000

06/01/31

10,457,515

10,000,000

Cleveland County Independent School District 29 Norman,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2024

.000

03/01/26

10,055,705

910,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/27

929,774

945,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/28

976,836

960,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/29

1,002,710

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

875,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

%

05/01/30

$

919,257

690,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/31

729,481

930,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/32

978,890

800,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/33

837,748

900,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/34

937,340

1,070,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/35

1,106,168

1,470,000

Comanche County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Elgin Public

Schools Project, Series 2017A

.000

12/01/28

1,551,235

1,410,000

Comanche County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Elgin Public

Schools Project, Series 2017A

.000

12/01/31

1,485,882

2,720,000

Garfield County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Enid Public

Schools Project, Series 2016A

.000

09/01/29

2,764,876

5,430,000

Garfield County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Enid Public

Schools Project, Series 2016A

.000

09/01/31

5,518,106

3,195,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.625

09/01/36

3,203,015

1,365,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Amber-Pocasset

Public Schools Project, Series 2019

.000

09/01/32

1,400,753

1,485,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Amber-Pocasset

Public Schools Project, Series 2019

.000

09/01/34

1,501,072

1,000,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Amber-Pocasset

Public Schools Project, Series 2019

.000

09/01/36

996,947

1,890,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Tuttle Public

Schools Project, Series 2019

.000

09/01/32

1,939,504

1,790,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Tuttle Public

Schools Project, Series 2019

.000

09/01/33

1,819,187

1,000,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Tuttle Public

Schools Project, Series 2019

.000

09/01/34

1,011,187

1,000,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/30

1,099,542

1,000,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/31

1,113,686

2,490,000

Lincoln County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Stroud Public Schools Project, Series

2016

.000

09/01/26

2,536,623

890,000

Love County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Marietta Public

Schools Project, Series 2021

.000

12/01/33

926,389

920,000

Love County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Marietta Public

Schools Project, Series 2021

.000

12/01/34

953,643

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

960,000

Love County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Marietta Public

Schools Project, Series 2021

.000

%

12/01/35

$

988,203

1,280,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Purcell Public

Schools Project, Series 2018

.000

09/01/30

1,361,161

1,565,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Purcell Public

Schools Project, Series 2018

.000

09/01/34

1,641,405

5,725,000

Oklahoma City, Oklahoma, General Obligation Bonds, Series

2025

.000

03/01/33

6,617,644

6,065,000

Oklahoma County Independent School District 89 Oklahoma

City, Oklahoma, General Obligation Bonds, Combined

Purpose Series 2024A

.250

07/01/26

5,990,888

590,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/28

616,209

9,505,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/33

9,825,943

8,615,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/38

8,747,644

3,795,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.250

08/15/43

3,819,304

2,505,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.500

08/15/57

2,510,534

4,975,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Taxable Series 2022

.500

08/15/37

5,187,495

970,000

Oklahoma Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Homeownership Loan Program, Series 2019A

.000

09/01/39

857,048

1,430,000

Oklahoma Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Homeownership Loan Program, Series 2020A

.000

09/01/40

1,232,078

5,850,000

Oklahoma State Turnpike Authority, Turnpike System Revenue

Bonds, Second Senior Series 2025A

.000

01/01/40

6,422,180

2,475,000

Oklahoma State Turnpike Authority, Turnpike System Revenue

Bonds, Second Senior Series 2025A

.000

01/01/41

2,692,257

745,000

Pontotoc County Educational Facilities Authority, Oklahoma,

Facilities Lease Revenue Bonds, Ada Public Schools Project,

Series 2021

.000

09/01/29

772,275

440,000

Pontotoc County Educational Facilities Authority, Oklahoma,

Facilities Lease Revenue Bonds, Ada Public Schools Project,

Series 2021

.000

09/01/30

458,677

1,110,000

Pontotoc County Educational Facilities Authority, Oklahoma,

Facilities Lease Revenue Bonds, Ada Public Schools Project,

Series 2021

.000

09/01/31

1,154,373

7,800,000

Tulsa County Independent School District 001 Tulsa,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2022A

.000

03/01/27

7,667,682

1,540,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Berryhill Public Schools

Project, Series 2020

.000

09/01/27

1,503,061

1,605,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Berryhill Public Schools

Project, Series 2020

.000

09/01/28

1,545,036

1,670,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Berryhill Public Schools

Project, Series 2020

.000

09/01/29

1,583,478

3,150,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Berryhill Public Schools

Project, Series 2020

.000

09/01/30

2,946,501

10,755,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Broken Arrow Public Schools

Project, Series 2016

.000

09/01/26

10,773,755

5,650,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Broken Arrow Public Schools

Project, Series 2021A

.000

09/01/30

5,921,409

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

5,425,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Broken Arrow Public Schools

Project, Series 2021A

.000

%

09/01/31

$

5,695,542

9,955,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jenks Public Schools Project,

Series 2015

.000

09/01/26

9,972,360

7,180,000

Tulsa, Oklahoma, General Obligation Bonds, Series 2024C

.050

10/01/37

4,503,402

2,580,000

Washington County Rural Water District 3, Oklahoma, Revenue

Bonds, Refunding & Capital improvement Series 2020

.000

09/15/35

2,459,988

2,165,000

Weatherford Industrial Trust Educational, Oklahoma, Facilities

Lease Revenue Bonds, Weatherford Public Schools Project,

Series 2019

.000

03/01/29

2,304,032

2,000,000

Weatherford Industrial Trust Educational, Oklahoma, Facilities

Lease Revenue Bonds, Weatherford Public Schools Project,

Series 2019

.000

03/01/31

2,129,973

2,500,000

Weatherford Industrial Trust Educational, Oklahoma, Facilities

Lease Revenue Bonds, Weatherford Public Schools Project,

Series 2019

.000

03/01/33

2,642,249

TOTAL OKLAHOMA

212,005,682

OREGON - 0.9%

5,070,000

Beaverton School District 48J, Washington and Multnomah

Counties, Oregon, General Obligation Bonds, Convertible

Deferred Interest Series 2017D

.000

06/15/36

5,193,999

1,850,000

Beaverton School District 48J, Washington and Multnomah

Counties, Oregon, General Obligation Bonds, Series 2025A

.000

06/15/37

1,167,002

5,000,000

Beaverton School District 48J, Washington and Multnomah

Counties, Oregon, General Obligation Bonds, Series 2025A

.000

06/15/38

2,977,369

1,760,000

Benton and Linn Counties District School District 509J

Corvallis, Oregon, General Obligation Bonds, Series 2018A

.000

06/15/38

1,828,824

1,260,000

Clackamas Community College District, Oregon, General

Obligation Bonds, Deferred Interest Series 2017A

.000

06/15/40

1,278,483

1,665,000

Clackamas County School District 62, Oregon City, Oregon,

General Obligation Bonds, Refunding Series 2018A

.000

06/15/34

1,204,234

1,510,000

Clackamas County School District 62, Oregon City, Oregon,

General Obligation Bonds, Refunding Series 2018A

.000

06/15/35

1,036,158

1,070,000

Clackamas County School District 62, Oregon City, Oregon,

General Obligation Bonds, Refunding Series 2018A

.000

06/15/37

666,004

2,050,000

Clackamas County School District 62, Oregon City, Oregon,

General Obligation Bonds, Refunding Series 2018A

.000

06/15/39

1,152,917

2,800,000

Multnomah-Clackamas Counties School District 10JT Greham-

Barlow, Oregon, General Obligation Bonds, Deferred interest

Series 2019A

.000

06/15/38

1,579,271

1,000,000

Oregon Department of Transportation, Revenue Bonds, Grant

Anticipation, Social 2024

.000

05/15/39

1,104,130

6,545,000

Oregon Health and Science University, Revenue Bonds, Green

Series 2021B-2, (Mandatory Put 2/01/32)

.000

07/01/46

7,240,392

1,830,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2017D

.450

01/01/38

1,724,983

3,085,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2018C

.900

07/01/38

3,059,109

7,955,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2019A

.650

07/01/39

6,813,418

7,420,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2021A

.250

07/01/41

5,462,134

2,710,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2025A

.750

07/01/40

2,776,831

5,000,000

Oregon State Department of Transportation, Highway User Tax

Revenue Bonds, Refunding Subordinate Lien Series 2024A

.000

11/15/33

5,818,266

3,325,000

Oregon State, General Obligation Bonds, Veterans Welfare

Series 108 of 2021O

.600

12/01/42

2,522,092

4,050,000

Port of Portland, Oregon, International Airport Revenue Bonds,

Green Series 2023-29, (AMT)

.000

07/01/38

4,321,780

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OREGON

(continued)

$

5,000,000

Port of Portland, Oregon, International Airport Revenue Bonds,

Series 2022-28, (AMT)

.000

%

07/01/33

$

5,503,512

1,925,000

Salem Hospital Facility Authority, Oregon, Revenue Bonds,

Salem Health Projects, Refunding Series 2016A

.000

05/15/33

1,943,832

6,510,000

Washington County, Oregon, General Obligation Bonds, Full

Faith & Credit Obligation Series 2025

.000

06/01/33

7,549,838

TOTAL OREGON

73,924,578

PENNSYLVANIA - 4.6%

1,000,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.000

01/01/28

1,046,272

1,400,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.000

01/01/29

1,490,681

2,500,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.000

01/01/30

2,700,282

1,000,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/36

1,034,382

10,085,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/37

9,881,364

5,205,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/38

5,023,800

6,770,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/44

6,120,488

2,090,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/44

1,954,096

1,445,000

(d) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, City Center

Project, Series 2018

.000

05/01/28

1,489,001

2,234,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-2

.000

06/30/34

2,337,455

29,961,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-3

.000

06/30/39

27,127,975

14,973,000

(h) Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024B-1

.000

06/30/44

10,597,042

4,690,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Taxable Series 2024A-1

.000

06/30/34

4,632,546

1,025,000

Capital Region Water, Pennsylvania, Water Revenue Bonds,

Series 2018

.000

07/15/27

1,066,793

5,190,000

Clarion County Industrial Development Authority, Pennsylvania,

Revenue Bonds, Pennsylvania-American Water Company

Project, Refunding Series 2019, (AMT), (Mandatory Put

12/03/29)

.450

12/01/39

4,793,614

32,700,000

Commonwealth Financing Authority, Pennsylvania, State

Appropriation Lease Bonds, Master Settlement, Series 2018 -

AGM Insured

.000

06/01/39

32,126,010

2,000,000

Delaware River Joint Toll Bridge Commission, New Jersey and

Pennsylvania, Bridge System Revenue Bonds, Series 2017

.000

07/01/42

2,032,203

5,000,000

Geisinger Authority, Montour County, Pennsylvania, Health

System Revenue Bonds, Geisinger Health System, Series

2020B, (Mandatory Put 2/15/27)

.000

04/01/43

5,098,270

4,465,000

Lehigh County General Purpose Authority, Pennsylvania,

Hospital Revenue Bonds, Lehigh Valley Health Network, Series

2019A

.000

07/01/49

3,873,236

9,460,000

Lehigh County Industrial Development Authority, Pennsylvania,

Pollution Control Revenue Bonds, Pennsylvania Power and

Light Company, Series 2016A

.000

09/01/29

9,515,006

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

16,805,000

Luzerne County Industrial Development Authority,

Pennsylvania, Revenue Bonds, Pennsylvania-American Water

Company Project, Refunding Series 2019, (AMT), (Mandatory

Put 12/03/29)

.450

%

12/01/39

$

15,533,618

1,000,000

North Allegheny School District, Allegheny County,

Pennsylvania, General Obligation Bonds, Limited Tax Series

2019

.000

05/01/44

967,194

3,160,000

Pennsylvania Economic Development Financing Authority,

Private Activity Revenue Bonds, Pennsylvania Rapid Bridge

Replacement Project, Series 2015, (AMT)

.000

12/31/34

3,181,255

11,000,000

Pennsylvania Economic Development Financing Authority,

Revenue Bonds, University of Pittsburgh Medical Center, Series

2025A, (Mandatory Put 3/15/35)

.000

03/15/60

12,149,194

2,000,000

(c) Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Republic Services Inc

Project, Series 2019B-2, (AMT), (Mandatory Put 1/15/26)

.850

04/01/49

1,999,147

1,250,000

Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Waste Management Inc.,

Project, Series 2009, (Mandatory Put 12/01/26)

.950

12/01/33

1,208,254

3,900,000

(c) Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Waste Management Inc.,

Project, Series 2013, (AMT), (Mandatory Put 11/03/25)

.850

08/01/45

3,899,538

10,890,000

Pennsylvania Higher Educational Facilities Authority, Revenue

Bonds, LaSalle University, Series 2012

.000

05/01/42

7,636,726

1,135,000

Pennsylvania Higher Educational Facilities Authority, Revenue

Bonds, Widener University, Series 2021A

.000

07/15/39

906,577

19,900,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2016-120

.100

10/01/36

18,619,294

13,045,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-124B

.500

10/01/37

12,486,321

6,615,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-128B

.500

10/01/34

6,532,864

1,000,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-130A

.700

10/01/39

846,384

3,880,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-131A

.000

10/01/39

3,417,654

3,355,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2020-133

.125

10/01/35

2,794,518

10,150,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2020-133

.350

10/01/40

7,815,160

15,000,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2021-137

.450

10/01/41

11,521,842

4,800,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2022-1394A

.000

10/01/37

4,808,283

1,000,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-145A

.600

10/01/44

1,008,249

9,000,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2025A

.000

08/15/29

9,849,171

6,000,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2025A

.000

08/15/33

6,904,911

5,000,000

Pennsylvania State, General Obligation Bonds, First Series

2024

.000

08/15/30

5,569,416

2,580,000

Pennsylvania Turnpike Commission, Motor License Fund-

Enhanced Turnpike Special Revenue Bonds, Subordinate

Series 2014A

.500

12/01/34

2,615,587

5,100,000

Pennsylvania Turnpike Commission, Motor License Fund-

Enhanced Turnpike Special Revenue Bonds, Subordinate

Series 2014A

.750

12/01/37

5,178,784

16,220,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Capital Appreciation Series 2009E

.375

12/01/38

17,074,090

4,695,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Second Series 2016B-2

.000

06/01/29

4,761,646

22,160,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Second Series 2016B-2

.000

06/01/35

22,462,666

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

3,045,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Second Series 2017

.000

%

12/01/29

$

3,194,196

3,340,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Second Series 2017

.000

12/01/31

3,506,733

4,815,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Series 2016

.000

06/01/37

4,826,755

5,645,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Series 2016A

.000

12/01/36

5,753,519

3,845,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Third Series 2017

.000

12/01/31

4,036,943

2,355,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Third Series 2017

.000

12/01/32

2,467,164

2,180,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Third Series 2017

.000

12/01/36

2,197,058

1,695,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Series 2015B

.000

12/01/28

1,701,380

1,165,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Series 2016A-1

.000

12/01/28

1,182,567

3,130,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Series 2017A-1

.000

12/01/36

3,238,186

7,445,000

Philadelphia Authority For Industrial Development,

Pennsylvania, City Agreement Revenue Bonds, Cultural and

Commercial Corridors Program, Refunding Series 2016A

.000

12/01/29

7,473,024

1,835,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, La Salle University, Series 2017

.000

05/01/31

1,651,139

2,060,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, La Salle University, Series 2017

.000

05/01/33

1,769,742

1,165,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, La Salle University, Series 2017

.000

05/01/34

975,227

3,000,000

Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding

Series 2025B, (AMT)

.000

07/01/32

3,324,601

440,000

Scranton-Lackawanna Health and Welfare Authority,

Pennsylvania, University Revenue Bonds, Marywood University,

Series 2016

.375

06/01/26

434,061

3,120,000

Washington County Industrial Development Authority,

Pennsylvania, College Revenue Bonds, AICUP Financing

Program-Washington and Jefferson College Project, Series

2017-PP5

.375

11/01/36

2,771,351

1,200,000

(f) Wilson School District, Berks County, Pennsylvania, General

Obligation Bonds, Notes Series 2025D

.000

05/15/37

1,320,641

800,000

(f) Wilson School District, Berks County, Pennsylvania, General

Obligation Bonds, Notes Series 2025D

.000

05/15/38

874,476

TOTAL PENNSYLVANIA

378,387,622

PUERTO RICO - 3.0%

19,655,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2020A

.000

07/01/30

20,514,281

22,060,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2020A

.000

07/01/35

22,733,541

350,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021A

.000

07/01/33

364,531

5,575,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/42

5,027,076

16,067,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/27

15,198,577

27,317,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/29

24,192,768

62,519,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/31

51,227,131

19,589,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/33

14,745,246

2,971,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.500

07/01/34

2,971,938

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PUERTO RICO

(continued)

$

11,661,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.550

%

07/01/40

$

11,405,246

30,947,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/46

10,567,893

1,087,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.750

07/01/53

1,023,045

1,000,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/58

966,593

4,743,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured Cofina Project Series 2018B-1

.500

07/01/34

4,744,497

15,466,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.329

07/01/40

14,814,996

7,773,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.329

07/01/40

7,445,814

76,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.784

07/01/58

70,671

8,507,454

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/27

8,808,228

16,663,234

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/29

17,832,893

1,797,507

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.750

07/01/31

1,993,107

9,297,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

6,651,314

2,592,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

2,564,815

4,111,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/35

4,013,011

1,143,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/37

1,085,807

TOTAL PUERTO RICO

250,963,019

RHODE ISLAND - 0.7%

1,275,000

Rhode Island Health and Educational Building Corporation,

Educational Institution Revenue Bonds, St. George's School,

Series 2021

.000

10/01/28

1,366,053

2,000,000

Rhode Island Health and Educational Building Corporation,

Hospital Financing Revenue Bonds, Care New England Issue,

Refunding Series 2016B

.000

09/01/36

2,000,869

1,435,000

Rhode Island Health and Educational Building Corporation,

Public Schools Financing Program Revenue Bonds, City of

Providence, Series 2021D - BAM Insured

.000

05/15/27

1,491,755

2,595,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2019 Series 70

.000

10/01/39

2,285,776

2,420,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2019 Series 71

.000

10/01/39

2,131,630

13,950,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2021 Series 75A

.250

10/01/41

10,236,655

10,000,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bonds, Series 73-A

.300

10/01/40

7,506,469

4,550,000

Rhode Island Housing and Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, Series 2020-72A

.550

10/01/40

3,547,953

4,000,000

Rhode Island Housing and Mortgage Finance Corporation,

Homeownership Opportunity Bonds, Series 83-A

.600

10/01/44

4,032,996

137,445,000

Rhode Island Tobacco Settlement Financing Corporation,

Tobacco Settlement Asset-Backed Bonds, Series 2007A

.000

06/01/52

19,541,820

3,655,000

Rhode Island Tobacco Settlement Financing Corporation,

Tobacco Settlement Asset-Backed Bonds, Series 2015B

.500

06/01/45

3,580,015

TOTAL RHODE ISLAND

57,721,991

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SOUTH CAROLINA - 1.3%

$

5,780,000

Greenville Hospital System Board of Trustees, South Carolina,

Hospital Revenue Bonds, Series 2014B

.000

%

05/01/34

$

5,789,733

1,055,000

Lexington County Health Services District, Inc., South Carolina,

Hospital Revenue Bonds, Lexington Medical Center, Series

2016

.000

11/01/34

1,065,942

1,170,000

Lexington County Health Services District, Inc., South Carolina,

Hospital Revenue Bonds, Lexington Medical Center, Series

2016

.000

11/01/35

1,180,981

6,400,000

Patriots Energy Group Financing Agency, South Carolina,

Gas Supply Revenue Bonds, Series 2023A-1, (Mandatory Put

8/01/31)

.250

10/01/54

6,976,040

1,000,000

Patriots Energy Group, South Carolina, Gas System Revenue

Bonds, Improvement and Refunding Series 2021A

.250

06/01/41

671,449

2,500,000

South Carolina Association of Governmental Organizations,

Educational Facilities Corporation for Pickens School District,

Installment Purchase Revenue Bonds, Pickens County,

Refunding Series 2025

.000

12/01/31

2,826,705

2,700,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2019B

.900

07/01/39

2,268,539

5,720,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2020B

.150

07/01/40

4,190,964

17,830,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2021A

.050

07/01/41

12,409,612

1,930,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2024A

.500

07/01/44

1,924,184

5,255,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2024B

.375

07/01/44

5,189,448

1,010,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2025A

.150

07/01/40

1,014,792

8,745,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2025A

.500

07/01/45

8,740,924

4,595,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2025B

.625

07/01/40

4,694,415

5,390,000

South Carolina Jobs Economic Development Authority,

Economic Development Revenue Bonds, Foothill Affordable

Housing Foundation - Paddock Club & Fairway Projects, Senior

Credit Enhanced Series 2025, (Mandatory Put 3/01/35)

.000

03/01/62

5,441,949

1,305,000

South Carolina Jobs-Economic Development Authority,

Economic Development Revenue Bonds, FMU Student

Housing LLC - Francis Marion University Project, Series 2014A

.000

08/01/27

1,306,201

3,925,000

South Carolina Jobs-Economic Development Authority,

Economic Development Revenue Bonds, FMU Student

Housing LLC - Francis Marion University Project, Series 2014A

.000

08/01/32

3,926,651

2,650,000

South Carolina Jobs-Economic Development Authority,

Hospital Revenue Bonds, Bon Secours Mercy Health, Inc, Series

2025B-2, (Mandatory Put 11/01/32)

.000

11/01/49

2,947,539

4,595,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding & Improvement Series 2020A

.000

12/01/31

5,072,910

7,895,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2016A

.000

12/01/29

8,009,878

4,325,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2016A

.000

12/01/31

4,383,457

2,255,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2016A

.000

12/01/37

2,273,082

4,000,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2024B - AGM Insured

.000

12/01/42

4,263,822

10,000,000

South Carolina Transportation Infrastructure Bank, Revenue

Bonds, Refunding Series 2017A

.000

10/01/39

10,249,452

4,615,000

Spartanburg County School District 5, South Carolina, General

Obligation Bonds, Series 2022

.000

03/01/37

4,210,196

TOTAL SOUTH CAROLINA

111,028,865

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SOUTH DAKOTA - 0.5%

$

200,000

Mitchell School District 17-2, South Dakota, General Obligation

Bonds, Limited Tax Refunding Certificates, Series 2021

.000

%

08/01/26

$

197,542

400,000

Mitchell School District 17-2, South Dakota, General Obligation

Bonds, Limited Tax Refunding Certificates, Series 2021

.000

08/01/27

390,191

400,000

Mitchell School District 17-2, South Dakota, General Obligation

Bonds, Limited Tax Refunding Certificates, Series 2021

.000

08/01/29

383,129

1,545,000

South Dakota Health and Educational Facilities Authority,

Revenue Bonds, Monument Health, Inc., Series 2020A

.000

09/01/27

1,604,544

2,515,000

South Dakota Health and Educational Facilities Authority,

Revenue Bonds, Regional Health, Refunding Series 2017

.000

09/01/31

2,595,254

3,925,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2021A

.100

11/01/41

2,745,491

7,500,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2021B

.050

11/01/41

5,193,302

3,500,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2024A

.450

11/01/44

3,494,014

13,055,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2024C

.500

11/01/44

12,999,676

7,710,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2025A

.200

11/01/40

7,810,125

2,395,000

(f) South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2025E

.250

05/01/56

2,738,718

3,205,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Social Series

2023A

.150

11/01/38

3,207,012

TOTAL SOUTH DAKOTA

43,358,998

TENNESSEE - 1.2%

1,630,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Revenue Bonds, CommonSpirit Health, Series

2019A-1

.000

08/01/26

1,657,656

1,900,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Revenue Bonds, CommonSpirit Health, Series

2019A-1

.000

08/01/28

2,012,872

2,895,000

Knox County Health, Educational and Housing Facilities Board,

Tennessee, Revenue Bonds, University Health System, Inc.,

Series 2017

.375

04/01/26

2,890,322

3,250,000

Knox County Health, Educational and Housing Facilities Board,

Tennessee, Revenue Bonds, University Health System, Inc.,

Series 2017

.000

04/01/29

3,317,388

2,605,000

Knox County Health, Educational and Housing Facilities Board,

Tennessee, Revenue Bonds, University Health System, Inc.,

Series 2017

.000

04/01/30

2,658,419

2,810,000

Knox County Health, Educational and Housing Facilities Board,

Tennessee, Revenue Bonds, University Health System, Inc.,

Series 2017

.000

04/01/31

2,862,701

5,135,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University Medical Center, Series 2016A

.000

07/01/40

5,157,499

4,435,000

Murfreesboro, Tennessee, General Obligation Bonds, Series

2021

.000

06/01/30

4,455,228

6,000,000

Shelby County Health, Educational and Housing Facilities

Board, Tennessee, Revenue Bonds, Methodist Le Bonheur

Healthcare, Series 2025A

.000

06/01/35

6,640,615

15,810,000

Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series

2021A, (Mandatory Put 9/01/28)

.000

12/01/51

16,203,310

4,095,000

Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series

2022A, (Mandatory Put 12/01/30)

.500

10/01/53

4,421,327

420,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2015-1C

.950

07/01/35

420,054

3,255,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2018-3

.750

07/01/38

3,201,634

6,335,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2018-4

.900

07/01/38

6,263,104

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TENNESSEE

(continued)

$

5,765,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-1

.750

%

07/01/39

$

5,589,300

6,190,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-2

.000

07/01/39

5,493,497

2,440,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-3

.600

07/01/39

2,073,308

3,930,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-4

.900

07/01/39

3,301,984

3,915,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-1

.250

07/01/41

2,886,656

7,135,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-2

.250

07/01/41

5,252,335

5,340,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-3

.300

07/01/41

3,968,602

215,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Social Series 2024-2A

.450

07/01/44

213,205

1,350,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Social Series 2025-2A

.850

07/01/40

1,390,577

3,735,000

The Tennessee Energy Acquisition Corporation, Gas Project

Revenue Bonds, Refunding Series 2025A

.000

12/01/35

4,042,686

2,510,000

The Tennessee Energy Acquisition Corporation, Gas Project

Revenue Bonds, Series 2018, (Mandatory Put 11/01/25)

.000

11/01/49

2,512,771

2,250,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006B

.625

09/01/26

2,286,114

TOTAL TENNESSEE

101,173,164

TEXAS - 8.2%

11,020,000

Alamo Community College District, Texas General Obligation

Bonds, Refunding Limited Tax Series 2025

.000

08/15/33

12,581,854

10,195,000

Alamo Community College District, Texas General Obligation

Bonds, Refunding Limited Tax Series 2025

.000

08/15/34

11,671,799

5,000,000

Aldine Independent School District, Harris County, Texas,

General Obligation Bonds, Refunding School Building Series

2017A

.000

02/15/45

5,047,222

2,035,000

Aldine Independent School District, Harris County, Texas,

General Obligation Bonds, Refunding School Building Series

2024B

.000

02/15/28

2,157,671

2,610,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/28

2,639,048

2,840,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/30

2,871,068

1,600,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/32

1,614,266

5,000,000

(f) Austin, Texas, Certificates of Obligation, Series 2025

.000

09/01/33

5,751,758

20,000,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2024B

.000

08/15/40

22,070,310

9,255,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2025A

.000

08/15/28

9,928,602

8,500,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2025B

.000

08/15/36

9,809,105

8,525,000

Board of Regents of the University of Texas, Permanent

University Fund Bonds, Series 2024A

.000

07/01/38

9,532,929

9,125,000

Board of Regents of the University of Texas, Permanent

University Fund Bonds, Series 2024A

.000

07/01/39

10,120,809

10,860,000

Central Texas Regional Mobility Authority, Revenue Bonds,

Anticipation Notes Subordinate Lien Series 2021C

.000

01/01/27

10,912,009

1,145,000

City of Houston, Texas, Convention & Entertainment Facilities

Department Hotel Occupancy Tax and Special Revenue Bonds,

Refunding Series 2019

.000

09/01/32

1,210,647

1,000,000

City of Houston, Texas, Convention & Entertainment Facilities

Department Hotel Occupancy Tax and Special Revenue Bonds,

Refunding Series 2019

.000

09/01/34

1,049,675

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,000,000

City of Houston, Texas, Convention & Entertainment Facilities

Department Hotel Occupancy Tax and Special Revenue Bonds,

Refunding Series 2019

.000

%

09/01/35

$

1,045,727

1,000,000

City of Houston, Texas, Convention & Entertainment Facilities

Department Hotel Occupancy Tax and Special Revenue Bonds,

Refunding Series 2019

.000

09/01/36

1,042,479

3,325,000

Collin County, Texas, General Obligation Bonds, Limited Tax

Permanent Improvement Series 2023

.000

02/15/36

3,686,576

1,270,000

Collin County, Texas, General Obligation Bonds, Limited Tax

Permanent Improvement Series 2023

.000

02/15/37

1,393,894

3,000,000

Conroe Independent School District, Montgomery County,

Texas, General Obligation Bonds, Refunding Series 2024

.000

02/15/30

3,320,403

8,610,000

Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds Refunding Series 2023C, (AMT)

.000

11/01/26

8,792,139

9,070,000

Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds Refunding Series 2023C, (AMT)

.000

11/01/27

9,454,204

12,245,000

(f) Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds, Refunding & Improvement Series 2025A-1, (AMT)

.000

11/01/30

13,418,147

10,000,000

Dallas, Texas, General Obligation Bonds, Refunding and

Improvement Series 2024B

.000

02/15/27

10,333,595

5,900,000

Dallas, Texas, Waterworks and Sewer System Revenue Bonds,

Refunding Series 2016A

.000

10/01/41

5,918,434

3,000,000

(f) Denton County, Texas, General Obligation Bonds, Refunding

Permanent Improvement Series 2025

.000

07/15/32

3,414,284

2,775,000

Fort Bend County Industrial Development Corporation, Texas,

Revenue Bonds, NRG Energy Inc. Project, Series 2012B

.750

11/01/42

2,744,128

2,400,000

Fort Bend County, Texas, General Obligation Bonds, Refunding

Road Series 2025

.000

03/01/33

2,742,968

3,405,000

Fort Bend County, Texas, General Obligation Bonds, Refunding

Road Series 2025

.000

03/01/34

3,918,136

4,000,000

Grand Prairie Independent School District, Dallas County,

Texas, General Obligation Bonds, Refunding Series 2015

.000

02/15/31

4,003,158

5,215,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Refunding Series 2020A

.125

07/01/26

5,271,285

4,025,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Refunding Series 2020A

.950

07/01/27

4,121,914

3,060,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Refunding Series 2020A

.750

07/01/28

3,143,492

3,650,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2022B, (Mandatory Put

12/01/28)

.000

06/01/50

3,867,226

8,960,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2024C, (Mandatory Put

7/01/29)

.000

07/01/54

9,596,076

1,000,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Texas Childrens

Hospital, Series 2019A

.000

10/01/35

1,011,287

4,560,000

Harris County, Texas, General Obligation Bonds, Refunding

Permanent Improvement Series 2025A

.000

09/15/33

5,240,002

4,650,000

Harris County, Texas, General Obligation Bonds, Refunding

Permanent Improvement Series 2025A

.000

09/15/34

5,372,348

1,715,000

Harris County, Texas, General Obligation Bonds, Refunding

Road Series 2025A

.000

09/15/33

1,970,746

1,800,000

Harris County, Texas, General Obligation Bonds, Refunding

Road Series 2025A

.000

09/15/34

2,079,619

1,270,000

Harris County, Texas, Toll Road Revenue Bonds, Refunding

Senior Lien Series 2016A

.000

08/15/41

1,272,968

1,720,000

Houston Higher Education Finance Corporation, Texas,

Revenue Bonds, Rice University, Series 2024

.000

05/15/34

1,984,086

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

6,995,000

Houston, Texas, Airport System Revenue Bonds, Refunding

Subordinate Lien Series 2023A - AGM Insured, (AMT)

.000

%

07/01/28

$

7,393,118

11,005,000

Houston, Texas, Airport System Revenue Bonds, Refunding

Subordinate Lien Series 2023A - AGM Insured, (AMT)

.000

07/01/30

12,003,092

11,535,000

Houston, Texas, Airport System Revenue Bonds, Refunding

Subordinate Lien Series 2023A - AGM Insured, (AMT)

.000

07/01/32

12,783,091

2,000,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal E Project, Refunding Series

2014, (AMT)

.000

07/01/29

2,000,553

1,000,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal E Project, Series 2021B-1,

(AMT)

.000

07/15/41

909,080

7,725,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.250

07/15/33

8,283,886

1,600,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.250

07/15/34

1,714,606

12,050,000

Houston, Texas, Combined Utility System Revenue Bonds,

Refunding First Lien Series 2014D

.000

11/15/39

12,057,808

3,165,000

Houston, Texas, Combined Utility System Revenue Bonds,

Refunding First Lien Series 2018D

.000

11/15/32

3,372,446

2,630,000

Houston, Texas, Combined Utility System Revenue Bonds,

Refunding First Lien Series 2018D

.000

11/15/33

2,789,719

8,500,000

Houston, Texas, General Obligation Bonds, Refunding Series

2024A

.000

03/01/41

9,130,700

7,500,000

Houston, Texas, General Obligation Bonds, Refunding Series

2024A

.000

03/01/42

7,990,122

1,325,000

Houston, Texas, Hotel Occupancy Tax and Special Revenue

Bonds, Convention and Entertainment Facilities Department,

Refunding Series 2014

.000

09/01/31

1,327,001

1,000,000

Houston, Texas, Hotel Occupancy Tax and Special Revenue

Bonds, Convention and Entertainment Facilities Department,

Refunding Series 2021

.000

09/01/33

989,565

2,880,000

Hurst-Euless-Bedford Independent School District, Tarrant

County, Texas, General Obligation Bonds, School Building

Series 2024

.000

08/15/26

2,944,646

2,055,000

Katy Independent School District, Harris, Fort Bend and Waller

Counties, Texas, General Obligation Bonds, Refunding Series

2024

.000

02/15/29

2,224,463

1,575,000

Klein Independent School District, Harris County, Texas,

General Obligation Bonds, Schoolhouse Refunding Series

2019

.000

02/01/43

1,613,532

1,000,000

Love Field Airport Modernization Corporation, Texas, General

Airport Revenue Bonds Series 2015, (AMT)

.000

11/01/26

1,001,570

2,025,000

Love Field Airport Modernization Corporation, Texas, General

Airport Revenue Bonds Series 2015, (AMT)

.000

11/01/27

2,028,452

1,570,000

Love Field Airport Modernization Corporation, Texas, General

Airport Revenue Bonds Series 2015, (AMT)

.000

11/01/28

1,572,669

2,000,000

Love Field Airport Modernization Corporation, Texas, General

Airport Revenue Bonds Series 2015, (AMT)

.000

11/01/29

2,003,180

2,000,000

Love Field Airport Modernization Corporation, Texas, General

Airport Revenue Bonds Series 2015, (AMT)

.000

11/01/30

2,002,958

4,095,000

Lower Colorado River Authority, Texas, Transmission Contract

Revenue Bonds, LCRA Transmission Services Corporation

Project, Refunding Series 2021

.000

05/15/27

4,256,959

4,565,000

Matagorda County Navigation District 1, Texas, Pollution

Control Revenue Bonds, Central Power & Light Company

Project, Refunding Series 2001A

.600

11/01/29

4,433,962

820,000

McCamey County Hospital District, Texas, General Obligation

Bonds, Series 2013

.000

12/01/25

820,223

2,720,000

McCamey County Hospital District, Texas, General Obligation

Bonds, Series 2013

.250

12/01/28

2,723,362

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

2,520,000

(d) Mission Economic Development Corporation, Texas, Revenue

Bonds, Natgasoline Project, Senior Lien Series 2018, (AMT)

.625

%

10/01/31

$

2,523,019

1,800,000

Mission Economic Development Corporation, Texas,

Solid Waste Disposal Revenue Bonds, Graphic Packaging

International, LLC Project, Green Series 2025, (AMT),

(Mandatory Put 6/01/30)

.000

12/01/64

1,865,499

1,040,000

(c) Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Republic Services Inc.

Project, Adjustable Rate Series 2020A, (AMT), (Mandatory Put

11/03/25)

.850

05/01/50

1,039,877

3,000,000

(c) Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Republic Services Inc.

Project, Variable Rate Demand Obligation Series 2012, (AMT),

(Mandatory Put 11/03/25)

.850

01/01/26

2,999,645

10,000,000

Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Waste Management Inc.

Project, Series 2023A, (AMT), (Mandatory Put 7/01/27)

.250

06/01/48

10,059,843

660,000

Montgomery County, Texas, General Obligation Bonds, Road

Series 2025

.500

03/01/50

652,120

2,900,000

North East Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding Series 2025

.000

08/01/33

3,340,967

5,920,000

(f) North Texas Municipal Water District, Texas, Regional

Wastewater Revenue Bonds, Improvement and Refunding

Series 2025

.000

06/01/43

5,776,848

3,860,000

(e) North Texas Tollway Authority, Special Projects System Revenue

Bonds, Convertible Capital Appreciation Series 2011C, (Pre-

refunded 9/01/31)

.000

09/01/43

4,676,917

9,190,000

(e) North Texas Tollway Authority, Special Projects System Revenue

Bonds, Convertible Capital Appreciation Series 2011C, (Pre-

refunded 9/01/31)

.750

09/01/45

11,177,964

5,355,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier Series 2023A

.000

01/01/27

5,523,102

4,010,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier Series 2024A

.000

01/01/41

4,279,984

3,750,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier, Series 2008D - AGC Insured

.000

01/01/38

2,326,739

2,250,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier, Series 2017A

.000

01/01/43

2,287,637

5,000,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier, Series 2019A

.000

01/01/35

4,837,930

5,950,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier, Series 2020A

.000

01/01/37

6,001,580

7,500,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding Second Tier Series 2024B

.000

01/01/32

8,480,120

5,280,000

Pasadena Independent School District, Harris County, Texas,

General Obligation Bonds, Refunding Series 2015

.000

02/15/34

5,282,162

1,000,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2020, (AMT)

.625

01/01/35

925,314

6,865,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.750

01/01/36

5,660,880

13,675,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.875

01/01/41

9,923,447

1,000,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.000

01/01/50

661,665

2,000,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2024A, (AMT)

.000

01/01/39

1,977,371

1,270,000

Port of Houston Authority, Harris County, Texas, General

Obligation Bonds, First Lien Series 2021

.000

10/01/26

1,301,589

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

2,315,000

Round Rock, Texas, Combined Tax and Revenue Certificates of

Obligation, Series 2021A

.000

%

08/15/43

$

1,480,548

1,180,000

Round Rock, Texas, Combined Tax and Revenue Certificates of

Obligation, Series 2021C

.000

08/15/43

754,663

1,520,000

Round Rock, Texas, Combined Tax and Revenue Certificates of

Obligation, Series 2021C

.000

08/15/46

901,733

3,910,000

(f) San Antonio, Texas, Water System Revenue Bonds, Refunding

Junior Lien Series 2025C

.000

05/15/32

4,446,768

3,765,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025C, (Mandatory Put 11/15/32)

.000

11/15/64

4,191,710

5,000,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Refunding Series 2025B

.650

07/01/40

5,088,008

5,835,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Refunding Series 2025D

.750

07/01/40

6,009,848

13,980,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Series 2024C

.450

01/01/44

13,859,930

3,535,000

Texas Department of Housing and Community Affairs, Single

Family Mortgage Revenue Bonds, Series 2018A

.125

09/01/38

3,546,982

4,835,000

Texas Department of Housing and Community Affairs, Single

Family Mortgage Revenue Bonds, Series 2021A

.050

09/01/41

3,356,537

20,170,000

Texas Municipal Gas Acquisition and Supply Corporation IV,

Gas Supply Revenue Bonds, Series 2023A, (Mandatory Put

1/01/30)

.500

01/01/54

21,705,040

15,850,000

Texas Municipal Gas Acquisition and Supply Corporation IV,

Gas Supply Revenue Bonds, Series 2023B, (Mandatory Put

1/01/34)

.500

01/01/54

17,855,025

10,000,000

Texas Municipal Gas Acquisition and Supply Corporation V,

Texas, Gas Supply Revenue Bonds, Series 2024, (Mandatory Put

1/01/34)

.000

01/01/55

10,929,536

7,000,000

Texas Private Activity Bond Surface Transporation Corporation,

Revenue Bonds, NTE Mobility Partners LLC North Tarrant

Express Managed Lanes Project, Refunding Senior Lien Series

2019A

.000

12/31/37

6,863,746

3,940,000

Texas Private Activity Bond Surface Transporation Corporation,

Revenue Bonds, NTE Mobility Partners LLC North Tarrant

Express Managed Lanes Project, Refunding Senior Lien Series

2019A

.000

12/31/38

3,807,714

10,000,000

Texas Private Activity Bond Surface Transporation Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Segments 3C Project, Series 2019, (AMT)

.000

06/30/58

9,835,706

1,700,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

12/31/32

1,742,234

2,800,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/33

2,858,174

1,600,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/35

1,607,549

5,790,000

Texas State, General Obligation Bonds, College Student Loan

Series 2023A, (AMT)

.000

08/01/36

6,291,361

6,665,000

Texas State, General Obligation Bonds, Texas Transportation

Commission, Mobility Fund Refunding Series 2024

.000

10/01/32

7,662,101

10,000,000

Texas State, General Obligation Bonds, Transportation

Commission Highway Improvement, Series 2016A

.000

04/01/35

10,065,459

12,000,000

Texas Transportation Commission, Central Texas Turnpike

System Revenue Bonds, Refunding Second Tier Series 2024C

.000

08/15/38

13,045,886

6,065,000

Texas Transportation Commission, General Obligation Bonds,

Highway Improvement Refunding Series 2024

.000

04/01/26

6,141,587

5,590,000

Texas Transportation Commission, General Obligation Bonds,

Highway Improvement Refunding Series 2024

.000

04/01/28

5,954,485

5,000,000

Texas Transportation Commission, Highway Fund Revenue

Bonds, Refunding First Tier Series 2024

.000

10/01/32

5,730,818

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,125,000

Texas Transportation Commission, State Highway 249 System

Revenue Bonds, First Tier Toll Series 2019A

.000

%

08/01/35

$

747,661

1,605,000

Texas Transportation Commission, State Highway 249 System

Revenue Bonds, First Tier Toll Series 2019A

.000

08/01/36

1,010,163

2,120,000

Texas Transportation Commission, State Highway 249 System

Revenue Bonds, First Tier Toll Series 2019A

.000

08/01/37

1,259,636

1,100,000

Texas Transportation Commission, State Highway 249 System

Revenue Bonds, First Tier Toll Series 2019A

.000

08/01/39

583,123

1,000,000

Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2017A

.000

10/15/42

1,017,589

7,385,000

Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2018A

.000

10/15/30

7,824,451

15,315,000

(f) Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2025

.000

10/15/33

17,696,611

3,750,000

Travis County, Texas, General Obligation Bonds, Permanent

Improvement Limited Tax Series 2024

.000

03/01/39

4,113,086

10,780,000

Travis County, Texas, General Obligation Bonds, Permanent

Improvement Limited Tax Series 2024

.000

03/01/40

11,710,283

2,000,000

Williamson County, Texas, General Obligation Bonds, Tax Road

Series 2025

.000

02/15/28

2,119,609

2,250,000

Williamson County, Texas, General Obligation Bonds, Tax Road

Series 2025

.000

02/15/29

2,434,784

TOTAL TEXAS

679,331,219

UTAH - 0.6%

1,055,000

(d) Black Desert Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds Series 2021A

.250

03/01/31

1,020,480

1,600,000

(d) Black Desert Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds Series 2021A

.500

03/01/36

1,467,081

1,300,000

(d) Downtown East Streetcar Sewer Public Infrastructure District,

South Salt Lake, Salt Lake County, Utah, Limited Tax General

Obligation Bonds, Series 2022A

.750

03/01/42

1,302,632

1,790,000

(d) MIDA Military Installation Development Authority Golf and

Equestrian Center Public Infrastructure District, Utah, Limited

Tax and Tax Allocation Revenue Bonds, Series 2021

.125

06/01/36

1,595,102

1,250,000

(d) MIDA Mountain Village Public Infrastructure District, Utah,

Subordinate Tax Allocation Revenue Bonds, Series 2024-2

.500

06/15/39

1,264,583

6,790,000

Salt Lake City School District, Salt Lake County, Utah, General

Obligation Bonds, School Bond Guaranty Program, Series 2013

.000

03/01/38

7,689,590

3,900,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2021A, (AMT)

.000

07/01/26

3,959,939

5,000,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2021A, (AMT)

.000

07/01/31

5,515,400

1,405,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/30

1,532,426

9,000,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/31

9,927,719

5,000,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/33

5,565,456

2,700,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/35

2,946,130

1,145,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.250

07/01/36

1,258,393

1,125,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.250

07/01/37

1,225,945

6,585,000

Utah Housing Corporation, Single Family Mortgage Bonds,

Series 2024E

.600

07/01/44

6,635,526

TOTAL UTAH

52,906,402

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VERMONT - 0.1%

$

2,985,000

Vermont Economic Development Authority, Mortgage

Revenue Bonds, Wake Robin Corporation Project, Series 2021A

.000

%

05/01/37

$

2,792,197

3,439,000

Vermont Housing Finance Agency, Multiple Purpose Bonds,

Series 2021A

.450

11/01/41

2,614,909

3,465,000

Vermont Housing Finance Agency, Multiple Purpose Bonds,

Social Series 2024C

.450

11/01/44

3,437,843

TOTAL VERMONT

8,844,949

VIRGINIA - 1.7%

5,260,000

Amelia County Industrial Development Authority, Virginia,

Solid Waste Disposal Revenue Bonds, Waste Management Inc.,

Series 2002, (AMT)

.450

04/01/27

5,089,399

7,310,000

Arlington County Industrial Development Authority, Virginia,

Hospital Revenue Bonds, Virginia Hospital Center, Series

2023A, (Mandatory Put 7/01/31)

.000

07/01/53

7,983,148

6,325,842

Federal Home Loan Mortgage Corporation, Multifamily

Variable Rate Certificates Relating to Municipal Securities Class

A Green Series 2024ML-028

.095

11/25/42

6,216,486

3,835,000

Federal Home Loan Mortgage Corporation, Virginia,

Multifamily Variable Rate Certificates Relating to Municipal

Securities Series 2025ML-031

.497

06/25/42

3,883,448

5,000,000

(e) Hampton Roads Transportation Accountability Commission,

Virginia, Revenue Bonds, Hampton Roads Transportation Fund,

Senior Lien Bond Anticipation Notes, Series 2021A, (ETM)

.000

07/01/26

5,088,081

870,000

James City County Economic Development Authority, Virginia,

Residential Care Facility Revenue Bonds, Williamsburg Landing

Inc., Refunding Series 2021A

.000

12/01/35

830,025

1,000,000

Stafford County Economic Development Authority, Virginia,

Hospital Facilities Revenue Bonds, Mary Washington

Healthcare Obligated Group, Refunding Series 2016

.125

06/15/31

1,000,055

710,000

(d) Virginia College Building Authority, Educational Facilities

Revenue Bonds, Marymount University Project, Refunding

Series 2015A

.000

07/01/45

545,402

2,810,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-3

.400

10/01/44

2,810,039

1,500,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-4

.450

07/01/45

1,500,616

1,710,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-5

.150

07/01/40

1,718,279

500,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-5

.500

07/01/45

499,767

2,100,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2024F-1

.650

07/01/40

2,154,090

1,005,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2024F-2

.700

07/01/40

1,030,685

1,560,000

(f) Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2024F-3

.600

07/01/40

1,577,404

7,505,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2020B

.200

03/01/40

5,576,047

10,010,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2023D

.450

08/01/28

10,012,470

2,600,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2024H

.625

06/01/29

2,608,692

1,350,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2025A

.100

09/01/40

1,324,900

3,925,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2025A

.450

09/01/45

3,923,703

3,220,000

Virginia Small Business Financing Authority, Environmental

Facilities Revenue Bonds (Pure Salmon Virginia LLC Project),

Escrow Refinancing Series 2022, (AMT), (Mandatory Put

11/20/25)

.000

11/01/52

3,221,903

12,875,000

Virginia Small Business Financing Authority, Private Activity

Revenue Bonds, Transform 66 P3 Project, Senior Lien Series

2017, (AMT)

.000

12/31/49

12,610,689

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VIRGINIA

(continued)

$

10,375,000

Virginia Small Business Financing Authority, Private Activity

Revenue Bonds, Transform 66 P3 Project, Senior Lien Series

2017, (AMT)

.000

%

12/31/56

$

10,065,852

5,480,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

07/01/32

5,910,799

4,000,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

01/01/34

4,270,654

4,890,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

07/01/36

5,129,107

3,330,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

07/01/37

3,466,258

4,540,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

01/01/38

4,711,144

2,000,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

12/31/47

2,003,682

3,190,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

12/31/52

3,179,346

5,250,000

Virginia Small Business Financing Authority, Revenue Bonds,

Elizabeth River Crossing OPCO, LLC Project, Refunding Senior

Lien Series 2022, (AMT)

.000

01/01/31

5,404,122

5,500,000

Virginia Small Business Financing Authority, Revenue Bonds,

Elizabeth River Crossing OPCO, LLC Project, Refunding Senior

Lien Series 2022, (AMT)

.000

01/01/34

5,574,647

10,000,000

Virginia Small Business Financing Authority, Revenue Bonds,

Elizabeth River Crossing OPCO, LLC Project, Refunding Senior

Lien Series 2022, (AMT)

.000

01/01/37

9,874,286

2,565,000

Wise County Industrial Development Authority, Virginia, Solid

Waste and Sewage Disposal Revenue Bonds, Virginia Electric

and Power Company, Series 2009A, (Mandatory Put 10/01/30)

.125

10/01/40

2,583,928

TOTAL VIRGINIA

143,379,153

WASHINGTON - 2.9%

3,725,000

Energy Northwest, Washington, Electric Revenue Bonds,

Columbia Generating Station, Refunding Series 2024A

.000

07/01/38

4,165,415

2,735,000

Energy Northwest, Washington, Electric Revenue Bonds,

Nuclear Project 1, Refunding Series 2024B

.000

07/01/26

2,786,672

7,915,000

(f) King and Snohomish Counties School District 417 Northshore,

Washington, General Obligation Bonds, Refunding Series 2025

.000

12/01/34

9,182,369

8,965,000

King County, Washington, Sewer Revenue Bonds, Refunding

Junior Lien Series 2020B, (Mandatory Put 1/01/26)

.875

01/01/42

8,894,873

7,980,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2017C, (AMT)

.000

05/01/31

8,171,343

8,800,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2018A, (AMT)

.000

05/01/31

9,011,005

5,300,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2019, (AMT)

.000

04/01/29

5,679,211

9,685,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Private Activity Series 2022B, (AMT)

.000

08/01/30

10,613,522

3,055,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Series 2016

.000

02/01/29

3,077,813

2,740,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Series 2021C, (AMT)

.000

08/01/32

2,999,793

2,340,000

Skagit County Public Hospital District 1, Washington, Revenue

Bonds, Skagit Valley Hospital, Refunding & Improvement Series

2016

.000

12/01/37

2,350,292

2,000,000

Washington Health Care Facilities Authority, Revenue Bonds,

CommonSpirit Health, Series 2019A-1

.000

08/01/28

2,118,813

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WASHINGTON

(continued)

$

5,930,000

Washington Health Care Facilities Authority, Revenue Bonds,

MultiCare Health System, Series 2015A

.000

%

08/15/40

$

5,930,942

14,085,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Health & Services, Refunding Series 2012A

.000

10/01/33

14,091,876

6,115,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/30

6,414,034

1,715,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/31

1,788,102

6,140,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/32

6,376,204

5,120,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/29

5,293,426

2,250,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/31

2,314,826

2,755,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/34

2,800,709

6,015,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/36

6,063,765

2,265,000

(d) Washington State Housing Finance Commission, Non-Profit

Housing Revenue Bonds, Eliseo Project, Refunding Ser

2021B-1

.500

07/01/28

2,163,630

6,900,000

Washington State Housing Finance Commission, Single Family

Program Bonds, Series 2021-1N

.200

06/01/41

5,036,375

5,580,000

Washington State Housing Finance Commission, Single Family

Program Bonds, Series 2021-2N

.400

12/01/41

4,179,654

39,810,205

Washington State Housing Finance Commission, Social

Municipal Certificates Multifamily Revenue Bonds, Series 2021-

1 Class A

.500

12/20/35

38,380,649

6,063,298

Washington State Housing Finance Commission, Social

Municipal Certificates Multifamily Revenue Bonds, Series

2024A-1

.221

03/01/50

5,833,619

5,035,000

Washington State, General Obligation Bonds, Motor Vehicle

Fuel Tax & Vehicle Related Fees Refunding Series R-2022D

.000

07/01/28

5,257,246

11,035,000

Washington State, General Obligation Bonds, Motor Vehicle

Fuel Tax & Vehicle Related Fees Refunding Series R-2023B

.000

07/01/42

11,758,499

9,470,000

Washington State, General Obligation Bonds, Motor Vehicle

Fuel Tax & Vehicle Related Fees, Refunding Series R-2024C

.000

08/01/27

9,913,136

5,555,000

Washington State, General Obligation Bonds, Refunding

Various Purpose Series R-2018D

.000

08/01/27

5,814,939

4,155,000

Washington State, General Obligation Bonds, Refunding

Various Purpose Series R-2018D

.000

08/01/32

4,314,591

5,000,000

Washington State, General Obligation Bonds, Refunding

Various Purpose Series R-2023A

.000

08/01/27

5,233,968

5,090,000

Washington State, General Obligation Bonds, Various Purpose

Refunding Series 2025B

.000

07/01/28

5,452,271

6,750,000

Washington State, General Obligation Bonds, Various Purpose

Series 2021A

.000

08/01/44

7,004,903

4,030,000

Washington State, General Obligation Bonds, Various Purpose

Series 2023A

.000

08/01/45

4,217,895

4,975,000

Whidbey Island Public Hospital District, Island County,

Washington, General Obligation Bonds, Whidbey General

Hospital, Series 2013

.500

12/01/33

4,813,634

TOTAL WASHINGTON

239,500,014

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WEST VIRGINIA - 0.4%

$

1,665,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Series 2009A, (Mandatory Put

6/01/28)

.700

%

12/01/42

$

1,706,034

5,895,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Series 2009B, (Mandatory Put

6/01/28)

.700

12/01/42

6,040,284

1,675,000

(d) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35)

.450

01/01/55

1,748,053

11,480,000

(d) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 5/15/32)

.625

04/15/55

11,611,490

3,240,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2023D

.300

11/01/38

3,250,177

1,710,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2024A

.400

11/01/44

1,710,693

1,945,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2024D

.900

11/01/39

1,915,067

2,555,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2024D

.300

11/01/44

2,534,169

5,435,000

West Virginia Parkways Authority, Turnpike Toll Revenue Bonds,

Senior Lien Series 2018

.000

06/01/43

5,558,935

TOTAL WEST VIRGINIA

36,074,902

WISCONSIN - 2.6%

6,780,000

Central Brown County Water Authority, Wisconsin, Water

System Revenue Bonds, Refunding Series 2024A

.000

11/01/33

7,708,376

2,000,000

Madison Metropolitan School District, Dane County, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025A

.000

03/01/31

2,253,577

1,700,000

Madison Metropolitan School District, Dane County, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025A

.000

03/01/32

1,939,376

1,500,000

Madison Metropolitan School District, Dane County, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025A

.000

03/01/33

1,725,170

4,455,000

Middleton-Cross Plains Area School District, Dane County,

Wisconsin, General Obligation Bonds, Refunding Series 2021A

.000

03/01/26

4,429,409

4,555,000

Middleton-Cross Plains Area School District, Dane County,

Wisconsin, General Obligation Bonds, Refunding Series 2021A

.000

03/01/27

4,468,510

4,320,000

Milwaukee, Wisconsin, General Obligation Bonds, Promissory

Notes Series 2024-N1 - AGM Insured

.000

04/01/30

4,735,756

1,475,000

Mukwonago Area School District, Waukesha County,

Wisconsin, General Obligation Bonds, Promissory Note Series

2025

.250

04/01/44

1,435,798

10,035,000

Public Finance Authority of Wisconsin, Lease Development

Revenue Bonds, KU Campus Development Corporation-

Central District Development Project, Series 2016

.000

03/01/41

10,037,158

25,400,000

(d) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream Meadowlands Project,

Series 2017

.500

12/01/37

20,320,000

2,600,000

Public Finance Authority of Wisconsin, Pollution Control

Revenue Bonds, Duke Energy Progress Project, Refunding

Series 2022A-2, (Mandatory Put 10/01/26)

.300

10/01/46

2,607,462

8,495,000

Public Finance Authority of Wisconsin, Pollution Control

Revenue Bonds, Duke Energy Progress Project, Refunding

Series 2022A-2, (Mandatory Put 10/01/30)

.700

10/01/46

8,687,805

16,805,000

Public Finance Authority of Wisconsin, Solid Waste Disposal

Revenue Bonds, Waste Management Inc., Refunding Series

2016A-1

.625

11/01/25

16,786,036

7,955,000

Public Finance Authority of Wisconsin, Solid Waste Disposal

Revenue Bonds, Waste Management Inc., Refunding Series

2016A-2

.875

05/01/27

7,856,200

1,820,000

(d) Public Finance Authority, Wisconsin, Educational Revenue

Bonds, Lake Norman Charter School, Series 2018A

.000

06/15/28

1,821,393

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

4,170,000

Public Finance Authority, Wisconsin, Exempt Facilities Revenue

Bonds, Celanese Project, Refunding Series 2016C

.050

%

11/01/30

$

4,173,045

9,085,000

Public Finance Authority, Wisconsin, Exempt Facilities Revenue

Bonds, Celanese Project, Refunding Series 2016C

.300

11/01/30

9,096,790

8,000,000

Racine Unified School District, Racine County, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025

.000

04/01/44

7,693,401

4,770,000

Racine Unified School District, Racine County, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025

.000

04/01/45

4,550,939

1,500,000

Sheboygan Area School District, Manitowoc and Sheboygan

Counties, Wisconsin, General Obligation Bonds, Promissory

Notes Series 2024

.000

03/01/39

1,336,392

1,525,000

Sheboygan Area School District, Manitowoc and Sheboygan

Counties, Wisconsin, General Obligation Bonds, Promissory

Notes Series 2024

.000

03/01/40

1,335,301

6,130,000

West Allis-West Milwaukee, et al School District, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025

.000

04/01/39

5,488,401

1,080,000

Wisconsin Health & Educational Facs Authority, Health Facilities

Revenue Bonds, UnityPoint Health Project, Series 2014A

.000

12/01/26

1,081,023

4,115,000

Wisconsin Health & Educational Facs Authority, Health Facilities

Revenue Bonds, UnityPoint Health Project, Series 2014A

.000

12/01/27

4,125,186

7,825,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Advocate Aurora Health Credit Group, Series 2018 B-1,

(Mandatory Put 7/01/27)

.000

08/15/54

7,953,460

3,230,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, PHW Muskego, Inc. Project, Series 2021

.000

10/01/41

2,649,137

30,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Advocate Aurora Health Credit

Group, Series 2018C-1, (Mandatory Put 7/29/26)

.000

08/15/54

30,545

2,120,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Gundersen Health System,

Refunding Series 2021A

.000

10/15/34

2,169,189

1,455,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Gundersen Health System,

Refunding Series 2021A

.000

10/15/35

1,477,684

5,490,000

(e) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Marshfield Clinic Health System,

Inc., Series 2020B-2, (Pre-refunded 8/15/26), (Mandatory Put

2/15/27)

.000

02/15/51

5,603,247

1,470,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Oakwood Lutheran Senior

Ministries, Series 2021

.000

01/01/37

1,376,774

1,950,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Saint Camillus Health System Inc,

Series 2019A

.000

11/01/39

1,929,525

1,355,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, ThedaCare Inc, Series 2015

.000

12/15/25

1,356,455

4,440,000

Wisconsin Housing and Economic Development Authority,

Home Ownership Revenue Bonds, Social Series 2024C

.125

09/01/39

4,402,375

2,750,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2019A

.000

11/01/39

2,384,891

1,650,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2021C

.500

11/01/41

1,237,757

2,685,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2023E, (Mandatory Put

5/01/27)

.875

11/01/54

2,687,107

4,785,000

Wisconsin State, General Obligation Bonds, Refunding Series

2024-1

.000

05/01/32

5,509,005

7,000,000

Wisconsin State, General Obligation Bonds, Refunding Series

2025-3

.000

05/01/31

7,956,269

12,965,000

Wisconsin State, General Obligation Bonds, Series 2025A

.000

05/01/35

14,950,937

9,905,000

Wisconsin State, General Obligation Bonds, Series 2025B

.000

05/01/33

11,516,554

TOTAL WISCONSIN

210,883,415

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WYOMING - 1.0%

$

16,300,000

Campbell County, Wyoming Solid Waste Facilities Revenue

Bonds, Basin Electric Power Cooperative, Dry Fork Station

Facilities, Series 2019A

.625

%

07/15/39

$

14,837,975

960,000

Casper Community College District, Natrona County,

Wyoming, Revenue Bonds, Refunding Series 2021

.000

04/15/37

973,382

1,000,000

Casper Community College District, Natrona County,

Wyoming, Revenue Bonds, Refunding Series 2021

.000

04/15/38

1,007,649

800,000

Consolidated Wyoming Municipalities Electric Power System

Joint Powers Board, Wyoming, Electric Facilities Improvement

Lease Revenue Bonds, Gillette Electrical System Project,

Refunding Series 2022

.000

06/01/33

896,640

1,415,000

Consolidated Wyoming Municipalities Electric Power System

Joint Powers Board, Wyoming, Electric Facilities Improvement

Lease Revenue Bonds, Gillette Electrical System Project,

Refunding Series 2022

.000

06/01/34

1,576,046

8,740,000

Sweetwater County 2023 Specific Purpose Joint Powers Board,

Wyoming, Sales and Use Excise Tax Revenue Bonds, Series

2023

.000

06/15/27

9,080,408

28,275,000

Sweetwater County, Wyoming, Pollution Control Revenue

Refunding Bonds, Idaho Power Company Project, Series 2006

.700

07/15/26

27,852,555

2,450,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2015 Series 6

.900

12/01/34

2,450,311

6,500,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2019 Series 3

.650

12/01/39

5,545,121

3,250,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2020 Series 1

.000

12/01/40

2,772,449

6,675,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2020 Series 2

.250

12/01/40

4,953,596

6,000,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2021 Series 3

.250

12/01/41

4,393,345

2,700,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2023 Series 1

.200

12/01/38

2,705,092

TOTAL WYOMING

79,044,569

TOTAL MUNICIPAL BONDS

(Cost $8,210,020,596)

7,984,295,569

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

1941619

VARIABLE RATE SENIOR LOAN INTERESTS - 0.0%

1941619

HEALTH CARE EQUIPMENT & SERVICES - 0.0%

812,771

(i) Jackson Hospital

.000

11/04/25

812,771

1,128,848

(i) Jackson Hospital, Inc. and Jackson Hospital Financing, LLC

.000

12/16/25

1,128,848

TOTAL HEALTH CARE EQUIPMENT & SERVICES

1,941,619

TOTAL VARIABLE RATE SENIOR LOAN INTERESTS

(Cost $1,935,920)

1,941,619

TOTAL LONG-TERM INVESTMENTS

(Cost $8,264,223,980)

8,035,133,579

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM INVESTMENTS - 1.3%

110029747

MUNICIPAL BONDS - 1.3%

110029747

CALIFORNIA - 0.2%

14,600,000

(j) Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Variable Rate Demand, Series 2021A-2

.000

07/01/51

14,600,000

TOTAL CALIFORNIA

14,600,000

MINNESOTA - 0.1%

8,395,000

(j) Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2015D, (AMT)

.940

01/01/46

8,395,000

TOTAL MINNESOTA

8,395,000

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK - 1.0%

$

26,000,000

(j) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Refunding Series 2012G-4

.500

%

11/01/30

$

26,000,000

10,575,000

(j) New York City Municipal Water Finance Authority, New York,

Water and Sewer System Revenue Bonds, Second Generation

Resolution, Variable Rate Demand Fiscal 2010 Series 2009CC

.900

06/15/41

10,575,000

10,000,000

(j) New York City Municipal Water Finance Authority, New York,

Water and Sewer System Second General Resolution Revenue

Bonds, Fiscal 2023 Series CC

.850

06/15/53

10,000,000

10,000,000

(j) New York City Municipal Water Finance Authority, New York,

Water and Sewer System Second General Resolution Revenue

Bonds, Fiscal 2025 Series EE-1

.900

06/15/55

10,000,000

14,460,000

(j) New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2026 Subseries Series

.500

05/01/55

14,460,000

10,000,000

(j) New York City, New York, General Obligation Bonds, Fiscal

2019 Series D-4

.850

12/01/47

10,000,000

TOTAL NEW YORK

81,035,000

TEXAS - 0.0%

12,000,000

Texas A&M University

.600

10/15/25

5,999,747

TOTAL TEXAS

5,999,747

TOTAL MUNICIPAL BONDS

(Cost $110,030,000)

110,029,747

TOTAL SHORT-TERM INVESTMENTS

(Cost $110,030,000)

110,029,747

TOTAL INVESTMENTS - 98.8%

(Cost $8,374,253,980)

8,145,163,326

BORROWINGS - (0.1)% (k)

(8,086,737)

OTHER ASSETS & LIABILITIES, NET - 1.3%

103,358,173

NET ASSETS - 100%

$

8,240,434,762

AMT

Alternative Minimum Tax

ETF

Exchange-Traded Fund

ETM

Escrowed to maturity

(a) Affiliated holding

(b) Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.

(c) Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of

the security. Coupon rate reflects the rate at period end.

(d) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the fiscal period, the aggregate value of these securities is $371,888,723 or 4.6% of Total Investments.

(e) 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.

(f) When-issued or delayed delivery security.

(g) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of

bankruptcy.

(h) 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 fiscal period.

(i) For fair value measurement disclosure purposes, investment classified as Level 3.

(j) Investment has a maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term

investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the

reporting period. This rate changes periodically based on market conditions or a specified market index.

(k) Borrowings as a percentage of Total Investments is 0.1%.

#### Portfolio of Investments September 30, 2025

#### Limited Term
See Notes To Financial Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 97.2%

4598356078

MUNICIPAL BONDS - 97.2%

4598356078

ALABAMA - 2.4%

$

975,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2024C

.100

%

10/01/39

$

964,289

7,970,000

Alabama Public School and College Authority, Capital

Improvement Pool Revenue Bonds, Refunding Series 2020A

.000

11/01/27

8,395,302

2,290,000

(a) Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Project 4 Series 2019A-1, (Pre-refunded 12/01/25),

(Mandatory Put 12/01/25)

.000

12/01/49

2,297,727

7,505,000

Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Project 7 Series 2021C-1, (Mandatory Put 12/01/26)

.000

10/01/52

7,596,023

2,410,000

Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Project 8 Series 2022A, (Mandatory Put 12/01/29)

.000

12/01/52

2,464,507

5,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Prepay BP PLC, Series 2024D

.000

11/01/28

5,253,944

2,500,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Prepay BP PLC, Series 2024D

.000

11/01/29

2,662,592

5,800,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2023C, (Mandatory Put 6/01/32)

.500

10/01/54

6,416,658

2,665,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2024B, (Mandatory Put 9/01/32)

.000

10/01/55

2,882,845

3,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2024C, (Mandatory Put 7/01/31)

.000

05/01/55

3,257,586

6,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025A, (Mandatory Put 5/01/32)

.250

05/01/56

6,244,432

1,100,000

(b) Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025D

.000

08/01/29

1,176,287

4,250,000

(b) Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025D, (Mandatory Put 8/01/35)

.000

12/01/55

4,658,182

8,530,000

Lower Alabama Gas District, Alabama, Goldman Sachs Gas

Project 2 Revenue Bonds, Series 2020A, (Mandatory Put

12/01/25)

.000

12/01/50

8,547,611

5,030,000

Mobile Industrial Development Board, Alabama, Pollution

Control Revenue Refunding Bonds, Alabama Power Company

Barry Plan, Series 2007A, (Mandatory Put 6/26/29)

.375

06/01/34

5,108,490

1,030,000

Selma Industrial Development Board, Alabama, Gulf

Opportunity Zone Revenue Bonds, International Paper

Company Project, Refunding Series 2019A, (Mandatory Put

10/01/31)

.450

11/01/33

1,036,422

4,000,000

Southeast Alabama Gas Supply District, Alabama, Gas Supply

Revenue Bonds, Project 2, Refunding Series 2024B, (Mandatory

Put 5/01/32)

.000

06/01/49

4,338,926

13,750,000

Southeast Energy Authority, Alabama, A Cooperative District

Energy Supply Revenue Bonds Series 2024A

.000

11/01/35

14,504,553

9,000,000

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 2, Series 2021B-1, (Mandatory Put

12/01/31)

.000

12/01/51

9,226,929

9,950,000

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 4, Series 2022B-1, (Mandatory Put

8/01/28)

.000

05/01/53

10,443,590

1,000,000

Southeast Energy Authority, Alabama, Revenue Bonds

Cooperative District Energy Supply Series 2024C, (Mandatory

Put 11/01/32)

.000

10/01/55

1,091,423

685,000

Southeast Energy Authority, Alabama, Revenue Bonds, A

Cooperative District Energy Supply Series 2025D

.000

09/01/30

736,051

1,000,000

Southeast Energy Authority, Alabama, Revenue Bonds, A

Cooperative District Energy Supply Series 2025D

.000

09/01/35

1,101,409

3,000,000

Southeast Energy Authority, Alabama, Revenue Bonds,

Cooperative District Energy Supply Series 2025B, (Mandatory

Put 1/01/33)

.250

03/01/55

3,208,840

TOTAL ALABAMA

113,614,618

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ALASKA - 1.3%

$

1,020,000

Alaska Housing Finance Corporation, Collateralized Mortgage

Bonds, Veterans Mortgage Program, 2024 First Series

.850

%

06/01/34

$

1,041,116

1,040,000

Alaska Housing Finance Corporation, Collateralized Mortgage

Bonds, Veterans Mortgage Program, 2024 First Series

.850

12/01/34

1,057,685

12,345,000

Alaska Housing Finance Corporation, Mortgage Revenue

Bonds, General Series 2020A-II

.000

12/01/35

10,179,343

23,000,000

Alaska Housing Finance Corporation, Mortgage Revenue

Bonds, General Series 2020B-II

.000

12/01/35

18,965,158

3,560,000

Alaska Housing Finance Corporation, Mortgage Revenue

Bonds, General Series 2022A-II

.150

12/01/36

2,896,616

8,110,000

Alaska Housing Finance Corporation, Mortgage Revenue

Bonds, Series 2022B-1

.150

06/01/36

6,699,551

3,565,000

Alaska Industrial Development and Export Authority, Power

Revenue Bonds, Snettisham Hydroelectric Project, Refunding

Series 2015, (AMT)

.000

01/01/26

3,567,895

5,145,000

Alaska Industrial Development and Export Authority, Revenue

Bonds, Greater Fairbanks Community Hospital Foundation

Project, Refunding Series 2019

.000

04/01/27

5,313,405

5,575,000

Alaska Industrial Development and Export Authority, Revenue

Bonds, Greater Fairbanks Community Hospital Foundation

Project, Refunding Series 2019

.000

04/01/29

5,987,364

165,000

Alaska Municipal Bond Bank, General Obligation Bonds, Three

Series 2015

.250

10/01/36

165,248

1,000,000

Alaska State, General Obligation Bonds, Refunding Series

2024B

.000

08/01/28

1,071,830

1,815,000

North Slope Borough, Alaska, General Obligation Bonds,

General Purpose Series 2023A

.000

06/30/26

1,849,301

1,525,000

North Slope Borough, Alaska, General Obligation Bonds,

General Purpose Series 2024A

.000

06/30/28

1,630,488

1,775,000

Northern Tobacco Securitization Corporation, Alaska, Tobacco

Settlement Asset-Backed Bonds, Senior Series 2021A Class 1

.000

06/01/28

1,861,999

TOTAL ALASKA

62,286,999

ARIZONA - 1.5%

5,000,000

Arizona Board of Regents, Arizona State University System

Revenue Bonds, Series 2025A

.000

07/01/29

5,472,731

5,055,000

(a) Arizona State, Certificates of Participation, Refunding Series

2019A, (ETM)

.000

10/01/27

5,319,425

6,760,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2007, (AMT), (Mandatory Put 6/15/28)

.100

12/01/37

6,803,529

1,940,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2019, (AMT), (Mandatory Put 6/01/29)

.000

06/01/49

1,981,198

11,010,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2022-2, (AMT), (Mandatory Put 9/01/27)

.000

09/01/52

11,198,630

3,600,000

Chandler, Arizona, General Obligation Bonds, Series 2017

.300

07/01/28

3,551,731

4,260,000

Coconino County, Arizona, Pollution Control Revenue Bonds,

Nevada Power Company Project, Refunding Series 2017B,

(AMT), (Mandatory Put 3/31/26)

.125

09/01/32

4,275,437

5,000,000

Maricopa County Industrial Development Authority, Arizona,

Revenue Bonds, Banner Health, Series 2023A-1, (Mandatory

Put 5/15/26)

.000

01/01/53

5,054,184

4,530,000

Maricopa County Pollution Control Corporation, Arizona,

Pollution Control Revenue Bonds, Public Service Company

of New Mexico Palo Verde Project, Refunding Series 2010A,

(Mandatory Put 10/01/26)

.875

06/01/43

4,397,884

2,150,000

Maricopa County Pollution Control Corporation, Arizona,

Pollution Control Revenue Bonds, Public Service Company

of New Mexico Palo Verde Project, Refunding Series 2010B,

(Mandatory Put 10/01/26)

.875

06/01/43

2,087,296

6,225,000

Phoenix Civic Improvement Corporation, Arizona, Airport

Revenue Bonds, Junior Lien Series 2019B, (AMT)

.000

07/01/36

6,464,918

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

615,000

Pinal County, Arizona, Pledged Revenue Obligations,

Refunding Series 2025 - BAM Insured

.000

%

08/01/28

$

658,302

1,225,000

Pinal County, Arizona, Pledged Revenue Obligations,

Refunding Series 2025 - BAM Insured

.000

08/01/29

1,343,251

2,000,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/28

2,142,346

1,000,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/29

1,095,677

3,515,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/30

3,933,019

3,715,000

Yavapai County Industrial Development Authority, Arizona,

Solid Waste Disposal Revenue Bonds, Waste Management Inc.,

Series 2002, (AMT)

.300

06/01/27

3,573,014

TOTAL ARIZONA

69,352,572

ARKANSAS - 0.4%

8,630,000

Fayetteville, Arkansas, Sales and Use Tax Revenue Bonds,

Capital Improvement Series 2022

.875

11/01/32

8,591,749

2,120,000

Rogers School District 30, Benton County, Arkansas, General

Obligation Bonds, Construction Series 2019

.125

02/01/31

1,977,600

2,560,000

Rogers School District 30, Benton County, Arkansas, General

Obligation Bonds, Refunding Series 2019

.000

02/01/27

2,560,290

3,915,000

Rogers School District 30, Benton County, Arkansas, General

Obligation Bonds, Refunding Series 2019

.000

02/01/29

3,916,357

TOTAL ARKANSAS

17,045,996

CALIFORNIA - 3.7%

17,460,000

Bay Area Toll Authority, California, Revenue Bonds, San

Francisco Bay Area Toll Bridge, Term Rate Series 2018A,

(Mandatory Put 4/01/26)

.625

04/01/45

17,425,723

2,500,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023C,

(Mandatory Put 10/01/31)

.250

01/01/54

2,668,454

3,560,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023F,

(Mandatory Put 11/01/30)

.500

10/01/54

3,900,134

5,375,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024B,

(Mandatory Put 12/01/32)

.000

01/01/55

5,695,149

6,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024D,

(Mandatory Put 9/01/32)

.000

02/01/55

6,591,397

2,900,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024H,

(Mandatory Put 8/01/33)

.000

01/01/56

3,237,393

600,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025C

.000

10/01/28

630,770

1,250,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025C

.000

10/01/29

1,333,733

6,750,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025D,

(Mandatory Put 7/01/34)

.000

10/01/55

7,264,605

2,030,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/27

2,096,111

2,915,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/28

3,062,459

19,790,000

California Municipal Finance Authority, Revenue Bonds, Linxs

APM Project, Senior Lien Series 2018A - AGM Insured, (AMT)

.000

12/31/30

19,436,068

2,000,000

California Municipal Finance Authority, Reveue Bonds,

Community Medical Centers, Series 2017A

.000

02/01/26

2,009,709

1,500,000

California Municipal Finance Authority, Reveue Bonds,

Community Medical Centers, Series 2017A

.000

02/01/27

1,534,433

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

2,700,000

(c) California Municipal Finance Authority, Solid Waste Disposal

Revenue Bonds, Republic Services Inc. Project, Series 2021B,

(AMT), (Mandatory Put 1/15/26)

.850

%

07/01/51

$

2,698,848

9,410,000

California Municipal Finance Authority, Solid Waste Disposal

Revenue Bonds, Waste Management Inc. Project, Series 2019A,

(AMT), (Mandatory Put 10/01/29)

.400

10/01/44

8,996,408

2,565,000

(c),(d)

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Republic Services Inc., Refunding

Series 2023, (AMT), (Mandatory Put 2/17/26)

.800

07/01/43

2,563,233

6,840,000

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Waste Management Inc., Refunding

Series 2015A-2, (AMT)

.625

07/01/27

6,840,670

6,700,000

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Waste Management, Inc. Project,

Refunding Series 2015B-1, (AMT)

.000

11/01/25

6,698,773

10,000,000

California State, General Obligation Bonds, Various Purpose

Refunding Series 2025

.000

08/01/28

10,740,375

2,000,000

California State, General Obligation Bonds, Various Purpose

Series 2024

.000

08/01/31

2,276,547

5,600,000

California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2014A

.250

12/01/29

5,605,956

1,000,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/27

1,012,933

1,070,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.000

12/01/26

1,087,647

350,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.000

12/01/27

361,442

2,815,000

Central Valley Energy Authority, California, Commodity Supply

Revenue Bonds, Series 2025, (Mandatory Put 8/01/35)

.000

12/01/55

3,084,606

8,655,000

Federal Home Loan Mortgage Corporation, California,

Multifamily Variable Rate Certificates Relating to Municipal

Securities Class A Series 2019M-057

.400

10/15/29

8,325,977

6,000,000

Los Angeles Community College District, California, General

Obligation Bonds, Refunding Series 2024

.000

08/01/27

6,332,893

1,500,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding &

Subordinate Green Series 2023A, (AMT)

.000

05/15/26

1,521,690

2,250,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding &

Subordinate Green Series 2023A, (AMT)

.000

05/15/27

2,335,341

2,000,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding &

Subordinate Green Series 2023A, (AMT)

.000

05/15/28

2,115,023

2,835,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding &

Subordinate Green Series 2023A, (AMT)

.000

05/15/29

3,051,461

4,000,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding Senior

Lien Series 2018B, (AMT)

.000

05/15/26

4,057,840

2,780,000

Sacramento Municipal Utility District, California, Electric

Revenue Bonds, Refunding Series 2023D, (Mandatory Put

10/15/30)

.000

08/15/49

3,098,607

2,000,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, International Senior Series 2023B,

(AMT)

.000

07/01/28

2,118,731

2,000,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, International Senior Series 2023B,

(AMT)

.000

07/01/29

2,157,719

2,750,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Senior Series 2025B, (AMT)

.000

07/01/30

3,018,600

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

4,370,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2019A, (AMT)

.000

%

05/01/36

$

4,539,293

3,475,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2019H, (AMT)

.000

05/01/28

3,656,919

TOTAL CALIFORNIA

175,183,670

COLORADO - 1.7%

2,980,000

Boulder Larimer & Weld Counties School District RE-1J Saint

Vrain Valley, Colorado, General Obligation Bonds, Series 2024

.000

12/15/29

3,303,567

1,900,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

AdventHealth Obligated Group, Series 2024A, (Mandatory Put

11/15/29)

.000

11/15/59

2,065,839

18,520,000

Colorado Health Facilities Authority, Colorado, Revenue

Bonds, CommonSpirit Health, Series 2019B-2, (Mandatory Put

8/01/26)

.000

08/01/49

18,616,085

1,000,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2022A

.000

11/01/26

1,022,446

13,000,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Intermountain Healthcare, Series 2022C, (Mandatory Put

8/15/28)

.000

05/15/62

13,782,469

11,850,000

Colorado Housing and Finance Authority, Multi Family Project

Bonds, Class I Series 2025C-2

.350

07/01/28

12,023,384

630,000

Colorado Housing and Finance Authority, Single Family

Mortgage Bonds, Class I Series 2021E

.950

11/01/36

505,444

2,500,000

Colorado Housing and Finance Authority, Single Family

Mortgage Bonds, Class I Series 2021H

.800

11/01/36

1,936,548

257,000

Cornerstar Metropolitan District, Arapahoe County, Colorado,

General Obligation Bonds, Limited Tax Convertible to

Unlimited Tax, Refunding Series 2017A

.500

12/01/27

257,033

4,930,000

Dawson Trails Metropolitan District 1, Colorado, In The

Town of Castle Rock, Limited Tax General Obligation Capital

Appreciation Turbo Bonds, Series 2024

.000

12/01/31

3,112,409

6,435,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022A, (AMT)

.000

11/15/26

6,597,739

5,600,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022A, (AMT)

.000

11/15/27

5,859,121

4,170,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2018A, (AMT)

.000

12/01/26

4,274,898

1,290,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2023B, (AMT)

.000

11/15/26

1,321,181

738,000

Gardens on Havana Metropolitan District 3, Arapahoe County,

Colorado, Special Revenue Bonds, Refunding Series 2017A

.625

12/01/27

738,232

500,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

01/15/26

499,458

425,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

07/15/26

430,730

1,425,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

01/15/27

1,457,467

625,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

07/15/27

644,061

415,000

Sterling Ranch Community Authority Board, Douglas County,

Colorado, Limited Tax Supported District 2, Refunding &

Improvement Senior Series 2020A

.375

12/01/30

405,457

805,000

Transport Metropolitan District 3, In the City of Aurora, Adams

County, Colorado, General Obligation Limited Bonds, Series

2021A-1

.125

12/01/31

746,391

TOTAL COLORADO

79,599,959

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CONNECTICUT - 1.5%

$

6,715,000

Connecticut Health and Educational Facilities Authority, Chefa

Revenue Bonds, Yale University, Remarketing Series 2017B-2,

(Mandatory Put 7/01/26)

.200

%

07/01/37

$

6,730,768

6,160,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Yale-New Haven Health Issue, Series 2024B,

(Mandatory Put 7/01/29)

.000

07/01/49

6,611,629

1,955,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2018D-1

.750

11/15/33

1,972,788

5,000,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2019F-1

.600

11/15/34

4,478,487

3,525,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020A-1

.300

11/15/35

2,925,132

4,350,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020C-1

.950

11/15/35

3,537,971

1,190,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020C-2, (AMT)

.200

11/15/34

997,281

3,425,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2021A-1

.700

05/15/34

2,828,541

4,075,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2021B-1

.000

11/15/36

3,248,074

12,115,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2021D-1

.000

11/15/36

9,656,544

2,835,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2025B-2, (Mandatory Put

5/15/28)

.300

05/15/60

2,855,668

12,000,000

(b) Connecticut State, General Obligation Bonds, Refunding Series

2025D

.000

08/15/29

13,130,529

1,510,000

Connecticut State, General Obligation Bonds, Series 2022E

.000

11/15/26

1,551,743

2,750,000

Connecticut State, General Obligation Bonds, Series 2024D

.000

05/01/27

2,857,360

3,220,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Refunding Series 2022B

.000

07/01/26

3,280,109

2,600,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2024B

.000

07/01/28

2,780,024

1,955,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2024B

.000

07/01/29

2,136,894

TOTAL CONNECTICUT

71,579,542

DELAWARE - 0.1%

3,735,000

Delaware Economic Development Authority, Gas Facilities

Revenue Bonds, Delmarva Power & Light Company Project,

Refunding Series 2020A

.600

01/01/31

3,871,669

1,635,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024D

.000

07/01/39

1,619,872

TOTAL DELAWARE

5,491,541

DISTRICT OF COLUMBIA - 1.5%

6,750,000

District of Columbia, General Obligation Bonds, Refunding

Series 2024B

.000

08/01/31

7,659,772

10,000,000

District of Columbia, General Obligation Bonds, Refunding

Series 2024C

.000

12/01/30

11,243,341

3,700,000

District of Columbia, Income Tax Secured Revenue Bonds,

Refunding Series 2023C

.000

10/01/32

4,245,890

3,500,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Forward Delivery Refunding Series

2020A, (AMT)

.000

10/01/32

3,784,794

5,000,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Forward Delivery Series

2020A, (AMT)

.000

10/01/31

5,436,633

5,000,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2016A, (AMT)

.000

10/01/32

5,078,754

5,290,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2017, (AMT)

.000

10/01/30

5,478,768

8,200,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2021A, (AMT)

.000

10/01/27

8,558,511

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

DISTRICT OF COLUMBIA

(continued)

$

3,000,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2022A, (AMT)

.000

%

10/01/28

$

3,191,878

6,540,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2023A, (AMT)

.000

10/01/33

7,206,817

3,880,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2024A, (AMT)

.000

10/01/27

4,049,637

6,205,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2024A, (AMT)

.000

10/01/28

6,601,868

TOTAL DISTRICT OF COLUMBIA

72,536,663

FLORIDA - 3.6%

4,185,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2015A, (AMT)

.000

10/01/27

4,191,898

2,000,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2017, (AMT)

.000

10/01/34

2,050,336

500,000

(d) Florida Development Finance Corporation, Florida, Solid

Waste Disposal Revenue Bonds, GFL Solid Waste Southeast

LLC Project Series 2024A, (AMT), (Mandatory Put 10/01/31)

.375

10/01/54

505,086

2,360,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT), (Mandatory Put

7/15/28)

.000

07/15/32

1,472,050

5,055,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/34

4,244,582

4,765,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/35

4,003,877

17,415,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/36

14,644,260

10,215,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/37

8,591,005

18,065,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Series

2025B, (AMT), (Mandatory Put 6/15/26)

.000

07/01/57

15,390,914

1,325,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2018-2

.750

07/01/33

1,332,509

6,925,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2019-1

.800

07/01/34

6,394,092

1,575,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2024-5

.950

07/01/39

1,563,667

2,310,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Social Series 2021-1

.800

07/01/36

1,810,127

2,825,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Social Series 2021-2

.800

07/01/36

2,213,683

15,910,000

Florida Municipal Power Agency, Power Supply Revenue

Bonds, All Requirements Project, Series 2025A

.000

10/01/29

17,432,622

7,870,000

Florida Municipal Power Agency, Power Supply Revenue

Bonds, All Requirements Project, Series 2025A

.000

10/01/30

8,775,606

22,060,000

Greater Orlando Aviation Authority, Florida, Airport Facilities

Revenue Bonds, Series 2019A, (AMT)

.000

10/01/27

23,024,481

2,610,000

Hillsborough County Aviation Authority, Florida, Revenue

Bonds, Tampa International Airport, Alternative Minimum Tax

Refunding Subordinate Lien Series 2022A, (AMT)

.000

10/01/26

2,666,066

9,030,000

Lee County, Florida, Airport Revenue Bonds, Refunding Series

2021A, (AMT)

.000

10/01/30

9,864,907

2,485,000

Manatee County School District, Florida, Sales Tax Revenue

Bonds, Series 2017 - AGM Insured

.000

10/01/26

2,546,811

2,200,000

Manatee County School District, Florida, Sales Tax Revenue

Bonds, Series 2017 - AGM Insured

.000

10/01/27

2,267,710

3,120,000

Manatee County School District, Florida, Sales Tax Revenue

Bonds, Series 2017 - AGM Insured

.000

10/01/28

3,212,543

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,715,000

Manatee County School District, Florida, Sales Tax Revenue

Bonds, Series 2017 - AGM Insured

.000

%

10/01/29

$

2,793,968

4,505,000

Miami-Dade County Industrial Development Authority, Florida,

Solid Waste Disposal Revenue Bonds, Waste Management Inc

Project, Series 2018B, (AMT), (Mandatory Put 7/01/26)

.000

11/01/48

4,504,897

4,100,000

Miami-Dade County, Florida, Aviation Revenue Bonds,

Refunding Series 2024A, (AMT)

.000

10/01/28

4,356,152

2,240,000

Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th

Cent Contract Payments, Refunding Senior Series 2017A - AGM

Insured

.000

11/01/29

2,341,120

9,215,000

Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th

Cent Contract Payments, Refunding Senior Series 2017A - AGM

Insured

.000

11/01/30

9,628,505

2,525,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/28

2,708,347

2,635,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/29

2,891,391

1,110,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/30

1,242,155

780,000

Seminole County, Florida, Water and Sewer Revenue Bonds,

Refunding Series 2025A

.000

10/01/30

873,256

1,370,000

Seminole County, Florida, Water and Sewer Revenue Bonds,

Refunding Series 2025A

.000

10/01/31

1,554,743

TOTAL FLORIDA

171,093,366

GEORGIA - 2.4%

3,500,000

Atlanta, Georgia, Airport General Revenue Bonds, Green Series

2025B-1, (AMT)

.000

07/01/30

3,833,693

2,000,000

Atlanta, Georgia, Airport General Revenue Bonds, Refunding

Series 2023G, (AMT)

.000

07/01/26

2,031,636

1,250,000

Atlanta, Georgia, Airport General Revenue Bonds, Refunding

Series 2023G, (AMT)

.000

07/01/27

1,296,965

2,625,000

Atlanta, Georgia, Airport General Revenue Bonds, Refunding

Series 2023G, (AMT)

.000

07/01/28

2,783,701

5,000,000

Atlanta, Georgia, Airport General Revenue Bonds, Refunding

Series 2023G, (AMT)

.000

07/01/29

5,394,296

3,250,000

(b) Douglas County School District, Georgia, General Obligation

Bonds, Series 2025

.000

04/01/30

3,607,633

2,925,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2020A

.750

12/01/35

2,591,466

2,750,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2021A

.250

12/01/36

2,214,378

1,930,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2024A

.100

12/01/39

1,918,897

1,045,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2025C

.900

06/01/31

1,074,272

580,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2025C

.900

12/01/31

596,911

1,110,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2025C

.950

06/01/32

1,143,190

450,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2025C

.950

12/01/32

463,980

5,075,000

Georgia State, General Obligation Bonds, Series 2017A

.000

02/01/29

5,252,626

5,085,000

Georgia State, General Obligation Bonds, Series 2017A

.000

02/01/31

5,255,690

2,040,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2021A, (Mandatory Put 9/01/27)

.000

07/01/52

2,083,275

10,110,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022A, (Mandatory Put 12/01/29)

.000

09/01/52

10,374,265

6,500,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022B, (Mandatory Put 6/01/29)

.000

12/01/52

6,888,904

15,800,000

(d) Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022C, (Mandatory Put 11/01/27)

.000

08/01/52

15,899,444

7,150,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023B, (Mandatory Put 3/01/30)

.000

07/01/53

7,695,729

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

GEORGIA

(continued)

$

3,500,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023E-1, (Mandatory Put 6/01/31)

.000

%

12/01/53

$

3,773,091

5,595,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2024D, (Mandatory Put 4/01/31)

.000

04/01/54

6,058,892

5,570,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2025A, (Mandatory Put 6/01/32)

.000

06/01/55

6,062,904

1,120,000

Monroe County Development Authority, Georgia, Pollution

Control Revenue Bonds, Georgia Power Company - Scherer

Plant, Series 2009-2, (Mandatory Put 3/06/26)

.875

10/01/48

1,124,384

11,500,000

Richmond County Board of Education, Georgia, General

Obligation Bonds, Sales Tax Series 2025

.000

10/01/29

12,651,245

TOTAL GEORGIA

112,071,467

GUAM - 0.0%

2,100,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.000

01/01/30

2,250,885

TOTAL GUAM

2,250,885

HAWAII - 0.7%

5,335,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Refunding Series 2019

.200

07/01/39

4,631,535

10,820,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Series 2017A, (AMT)

.100

05/01/26

10,722,080

6,025,000

Honolulu City and County, Hawaii, General Obligation Bonds,

Refunding Series 2017D

.000

09/01/30

6,281,271

9,460,000

Maui County, Hawaii, General Obligation Bonds, Series 2025

.000

09/01/29

10,392,000

TOTAL HAWAII

32,026,886

IDAHO - 0.6%

6,020,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2018A

.000

03/01/26

6,075,524

4,815,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2018A

.000

03/01/29

5,094,127

4,880,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2018A

.000

03/01/31

5,145,697

5,010,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2025B, (Mandatory Put 3/01/32)

.000

03/01/60

5,489,235

6,000,000

Idaho State Building Authority, Sales Tax Revenue Education

Bonds, School Modernization Facilities Series 2024A

.000

06/01/28

6,417,794

TOTAL IDAHO

28,222,377

ILLINOIS - 5.0%

1,515,000

Adams County School District 172, Quincy, Illinois, General

Obligation Bonds, Series 2016 - AGM Insured

.000

02/01/27

1,526,278

550,000

Chanpaign County Community Unit School District 4, Illinois,

General Obligation Bonds, School Building Series 2020A

.000

01/01/26

545,180

780,000

Chanpaign County Community Unit School District 4, Illinois,

General Obligation Bonds, School Building Series 2020A

.000

01/01/27

747,334

585,000

Chanpaign County Community Unit School District 4, Illinois,

General Obligation Bonds, School Building Series 2020A

.000

01/01/28

541,906

3,300,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2017G

.000

12/01/34

3,315,120

20,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Refunding Senior Lien Series 2022C

.000

01/01/26

20,109

2,510,000

Chicago, Illinois, General Obligation Bonds, Chicago Works

Series 2023A

.000

01/01/34

2,609,974

1,970,000

(a) Chicago, Illinois, General Obligation Bonds, Refunding Series

2016C, (ETM)

.000

01/01/26

1,981,004

1,185,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/27

1,214,809

3,250,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/28

3,393,152

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

20,000

(a) DuPage County School District 58 Downers Grove, Illinois,

General Obligation Bonds, Limited Tax Capital Appreciation

School Series 2018, (ETM)

.000

%

12/15/26

$

19,382

980,000

DuPage County School District 58 Downers Grove, Illinois,

General Obligation Bonds, Limited Tax Capital Appreciation

School Series 2018

.000

12/15/26

943,132

1,050,000

DuPage County School District 58 Downers Grove, Illinois,

General Obligation Bonds, Limited Tax Capital Appreciation

School Series 2018

.000

12/15/27

979,427

8,130,000

Grundy, Kendall, and Will Counties Community Consolidated

School District 201, Minooka, Illinois, General Obligation

Bonds, Refunding School Series 2019

.000

10/15/27

8,173,140

20,875,000

Illinois Development Finance Authority, Revenue Bonds, St

Vincent de Paul Center Project, Series 2000A, (Mandatory Put

3/03/26)

.450

11/15/39

20,833,766

11,300,000

Illinois Finance Authority, Midwestern Disaster Area Industrial

Development Revenue Bonds, Cargill, Incorporated Project,

Series 2012, (Mandatory Put 11/01/26)

.250

11/01/38

11,020,424

2,200,000

Illinois Finance Authority, Revenue Bonds, Advocate Health

Care Network, Series 2008A-1

.000

11/01/30

2,245,423

1,700,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

and Medical Centers, Refunding Series 2025A

.000

08/15/30

1,854,443

3,000,000

(a) Illinois Finance Authority, Revenue Bonds, Swedish Covenant

Hospital, Series 2016A, (ETM)

.000

08/15/26

3,064,502

1,035,000

Illinois Finance Authority, Revenue Bonds, University of

Chicago Medicine, Series 2022A, (Mandatory Put 8/15/27)

.000

08/15/52

1,070,078

4,000,000

Illinois Finance Authority, Revenue Bonds, University of

Chicago Medicine, Series 2025A-1, (Mandatory Put 8/15/30)

.000

08/15/54

4,412,215

3,100,000

(d) Illinois Finance Authority, Surface Freight Transfer Facilities

Revenue Bonds, CenterPoint Joliet Terminal Railroad Project,

Series 2017, (AMT), (Mandatory Put 7/02/35)

.800

12/01/43

3,184,283

8,680,000

(d) Illinois Finance Authority, Surface Freight Transfer Facilities

Revenue Bonds, CenterPointJoliet Terminal Railroad Project,

Series 2020, (AMT), (Mandatory Put 12/31/34)

.125

12/01/50

8,611,477

1,000,000

Illinois Finance Authority, Water Facilities Revenue Bonds,

American Water Capital Corporation Project, Refunding Series

2019, (Mandatory Put 10/01/29)

.450

10/01/39

972,694

2,000,000

Illinois Finance Authority, Water Facilities Revenue Bonds,

American Water Capital Corporation Project, Refunding Series

2020, (Mandatory Put 9/01/28)

.875

05/01/40

2,052,243

10,135,000

Illinois Housing Development Authority, Revenue Bonds,

Green Series 2021B

.950

10/01/36

8,153,148

15,000,000

Illinois Municipal Electric Agency, Power Supply System

Revenue Bonds, Refunding Series 2025A

.000

02/01/31

16,707,354

5,475,000

Illinois State, General Obligation Bonds, June Series 2016

.000

06/01/28

5,556,690

695,000

Illinois State, General Obligation Bonds, November Series

2017C

.000

11/01/29

726,459

760,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/25

761,458

6,405,000

Illinois State, General Obligation Bonds, November Series

2017D

.250

11/01/26

6,434,922

5,525,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/26

5,661,578

13,260,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/27

13,871,757

5,745,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/28

6,004,921

5,000,000

Illinois State, General Obligation Bonds, November Series

2019B

.000

11/01/30

5,418,605

10,810,000

Illinois State, General Obligation Bonds, October Series 2016

.000

02/01/28

11,129,221

65,000

Illinois State, General Obligation Bonds, Refunding October

Series 2024

.000

02/01/26

65,503

2,545,000

Illinois State, General Obligation Bonds, Refunding October

Series 2024

.000

02/01/27

2,622,620

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

11,000,000

Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding

Junior Obligation March Series 2025A

.000

%

06/15/28

$

11,638,332

5,000,000

Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding

Junior Obligation March Series 2025A

.000

06/15/29

5,389,440

1,005,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Refunding Senior Lien Series 2016A

.000

12/01/32

1,009,595

2,945,000

Illinois, General Obligation Bonds, Illinois FIRST Program,

Series 2001 - FGIC Insured

.000

11/01/26

2,988,310

1,235,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/26

1,264,203

775,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/25

777,924

1,925,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/26

1,972,097

360,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/27

376,341

1,945,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/28

2,025,410

650,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/30

676,115

1,000,000

North Barrington, Lake County, Illinois, Special Tax Bonds,

Special Service Area 19, Refunding Series 2019 - BAM Insured

.000

02/01/33

1,023,752

1,000,000

North Barrington, Lake County, Illinois, Special Tax Bonds,

Special Service Area 19, Refunding Series 2019 - BAM Insured

.000

02/01/36

1,010,660

1,895,000

North Barrington, Lake County, Illinois, Special Tax Bonds,

Special Service Area 19, Refunding Series 2019 - BAM Insured

.000

02/01/40

1,892,988

2,010,000

North Barrington, Lake County, Illinois, Special Tax Bonds,

Special Service Area 19, Refunding Series 2019 - BAM Insured

.000

02/01/44

1,925,684

325,000

Northern Illinois University, Auxiliary Facilities System Revenue

Bonds, Series 2021 - BAM Insured

.000

10/01/25

325,000

250,000

Northern Illinois University, Auxiliary Facilities System Revenue

Bonds, Series 2021 - BAM Insured

.000

10/01/26

254,998

1,258,000

Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood

Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 -

BAM Insured

.450

03/01/26

1,259,611

1,218,000

Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood

Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 -

BAM Insured

.600

03/01/28

1,230,038

8,240,000

Sales Tax Securitization Corporation, Illinois, Sales Tax

Securitization Bonds, Series 2018C

.000

01/01/28

8,658,094

2,780,000

Southwestern Illinois Development Authority, Health Facility

Revenue Bonds, Hospital Sisters Services, Inc. Obligated

Group, Series 2017A

.000

02/15/26

2,801,330

3,665,000

Southwestern Illinois Development Authority, Health Facility

Revenue Bonds, Hospital Sisters Services, Inc. Obligated

Group, Series 2017A

.000

02/15/27

3,776,218

13,615,000

Springfield, Illinois, Electric Revenue Bonds, Refunding Senior

Lien Series 2024 - BAM Insured

.000

03/01/29

14,594,596

TOTAL ILLINOIS

235,316,467

INDIANA - 2.8%

18,060,000

Indiana Finance Authority, Environmental Facilities Revenue

Bonds, Indianapolis Power & Light Company Project, Refunding

Series 2020A, (AMT), (Mandatory Put 4/01/26)

.950

12/01/38

17,822,872

8,885,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, Southern Indiana Gas & Electric Company,

Refunding Series 2013A, (AMT), (Mandatory Put 8/01/28)

.000

03/01/38

9,003,476

21,115,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, Southern Indiana Gas & Electric Company,

Refunding Series 2013A, (AMT), (Mandatory Put 8/01/28)

.000

05/01/43

21,219,995

1,100,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, United States Steel Corporation Project,

Refunding Series 2021A

.125

12/01/26

1,102,266

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

INDIANA

(continued)

$

5,750,000

Indiana Finance Authority, Environmental Revenue Bonds,

Duke Energy Indiana, Inc. Project, Refunding Series 2009A-1,

(AMT), (Mandatory Put 6/01/27)

.750

%

03/01/31

$

5,801,575

7,490,000

Indiana Finance Authority, Environmental Revenue Bonds,

Duke Energy Indiana, Inc. Project, Refunding Series 2009A-1,

(AMT), (Mandatory Put 6/01/32)

.500

05/01/35

7,581,600

7,695,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

University Health Obligation Group, Long Term Rate Series

2023B-1, (Mandatory Put 7/01/28)

.000

10/01/62

8,119,742

7,765,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

University Health Series 2025D-1, (Mandatory Put 10/01/29)

.000

10/01/64

8,378,183

8,075,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

Unversity Health Obligation Group, Refunding Series 2011M,

(Mandatory Put 1/01/26)

.700

12/01/46

8,026,483

1,540,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, Refunding First Lien Forward Delivery

Series 2022A

.000

10/01/26

1,578,151

1,645,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, Refunding First Lien Forward Delivery

Series 2022A

.000

10/01/27

1,729,729

1,250,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, Series 2015A

.000

10/01/26

1,252,607

3,520,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Series 2020B-1

.950

07/01/35

2,897,478

1,250,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Series 2021A

.900

07/01/36

1,011,330

2,610,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Social PAC Series

2021B

.900

07/01/36

2,111,658

6,000,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Airport Authority Project Revenue Bonds, Refunding Series

2019D, (AMT)

.000

01/01/27

6,150,935

3,450,000

Rockport, Indiana, Pollution Control Revenue Refunding Bonds,

Indiana Michigan Power Company Project, Series 2025A,

(Mandatory Put 6/01/29)

.700

06/01/47

3,543,050

2,800,000

(b) Valparaiso 21st Century School Building Corporation, Porter

County, Indiana, First Mortgage Bonds, Ad Valorem Property

Tax Refunding Series 2025

.000

01/15/29

3,014,202

1,000,000

Westfield-Washington Multi-School Building Corporation,

Hamilton County, Indiana, First Mortgage Bonds, Series 2024A

- BAM Insured

.000

07/15/29

1,085,252

1,000,000

Westfield-Washington Multi-School Building Corporation,

Hamilton County, Indiana, First Mortgage Bonds, Series 2024A

- BAM Insured

.000

07/15/30

1,106,415

1,000,000

Westfield-Washington Multi-School Building Corporation,

Hamilton County, Indiana, First Mortgage Bonds, Series 2024A

- BAM Insured

.000

01/15/31

1,114,764

9,815,000

Whiting, Indiana, Environmental Facilities Refunding Revenue

Bonds, BP Products North America Inc. Project, Refunidng

Series 2019A, (AMT), (Mandatory Put 6/05/26)

.000

12/01/44

9,945,524

3,775,000

Whiting, Indiana, Environmental Facilities Revenue Bonds, BP

Products North America Inc. Project, Series 2008, (Mandatory

Put 6/21/35)

.200

06/01/44

3,951,636

5,755,000

Whiting, Indiana, Environmental Facilities Revenue Bonds,

BP Products North America Inc. Project, Series 2015, (AMT),

(Mandatory Put 6/10/31)

.400

11/01/45

6,139,690

TOTAL INDIANA

133,688,613

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

IOWA - 0.4%

$

5,300,000

(a) Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

Series 2022, (Pre-refunded 12/01/32), (Mandatory Put

12/01/32)

.000

%

12/01/50

$

5,761,809

3,000,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Green Series

2021A

.850

07/01/35

2,547,099

2,345,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Series 2019D

.450

07/01/34

2,074,243

3,120,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Series 2020A

.500

01/01/35

2,721,055

3,000,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Social Series 2021B

.000

07/01/36

2,420,090

1,955,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Social Series 2021D

.000

07/01/36

1,571,291

TOTAL IOWA

17,095,587

KANSAS - 0.7%

8,515,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2024A

.000

09/01/27

8,942,437

4,315,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/28

4,633,758

1,820,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/29

1,997,875

10,360,000

Kansas Development Finance Authority, Hospital Revenue

Bonds, Advent Health Obligated Group, Series 2021B,

(Mandatory Put 11/15/31)

.000

11/15/54

11,580,336

2,000,000

Kansas Development Finance Authority, Hospital Revenue

Bonds, Advent Health Obligated Group, Series 2021B,

(Mandatory Put 11/15/28)

.000

11/15/54

2,133,398

4,175,000

Manhattan, Kansas, General Obligation Bonds, Temporary

Notes, Series 2024-02 - BAM Insured

.000

06/15/28

4,230,133

TOTAL KANSAS

33,517,937

KENTUCKY - 3.7%

8,250,000

Boone County, Kentucky, Collateralized Pollution Control

Revenue Bonds, Duke Energy Kentucky, Refunding Series

2008A

.700

08/01/27

8,329,179

6,050,000

Carroll County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project, Series 2004A,

(AMT), (Mandatory Put 9/01/26)

.750

10/01/34

5,918,393

30,000,000

Carroll County, Kentucky, Pollution Control Revenue Bonds,

Kentucky Utilities Company Project, Refunding Series 2016A,

(Mandatory Put 9/01/26)

.550

09/01/42

29,378,142

4,470,000

Kentucky Asset/Liability Commission, General Fund Revenue

Project Notes, Federal Highway Trust Fund, First Refunding

Series 2024A

.000

09/01/26

4,564,316

6,270,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 130, Series 2024B

.000

11/01/25

6,281,215

4,545,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 132, Refunding Series 2025B

.000

04/01/30

5,029,104

2,250,000

Kentucky Turnpike Authority, Economic Development Road

Revenue Bonds, Revitalization Projects, Refunding Series

2024A

.000

07/01/27

2,344,743

8,585,000

Louisville and Jefferson County Metropolitan Government

Board of Water Works, Kentucky, Water System Revenue

Bonds, Series 2025

.000

11/15/30

9,681,252

14,960,000

Louisville and Jefferson County Metropolitan Sewer District,

Kentucky, Sewer and Drainage System Revenue Bonds,

Refunding Series 2025A

.000

05/15/31

16,853,472

4,200,000

Louisville/Jefferson County Metro Government, Kentucky,

Health System Revenue Bonds, Norton Healthcare, Inc., Series

2023B, (Mandatory Put 10/01/29)

.000

10/01/47

4,508,006

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

KENTUCKY

(continued)

$

4,000,000

Louisville-Jefferson County Metropolitan Government,

Kentucky, Pollution Control Revenue Bonds, Louisville Gas and

Electric Company Project, Series 2001A

.900

%

09/01/26

$

3,903,270

8,000,000

Louisville-Jefferson County Metropolitan Government,

Kentucky, Pollution Control Revenue Bonds, Louisville Gas and

Electric Company Project, Series 2001B, (AMT)

.350

11/01/27

7,661,721

18,100,000

Louisville-Jefferson County Metropolitan Government,

Kentucky, Pollution Control Revenue Bonds, Louisville Gas

and Electric Company Project, Series 2005A, (Mandatory Put

7/01/26)

.750

02/01/35

17,851,759

3,805,000

Oldham County School District Finance Corporation, Kentucky,

School Building Revenue Bonds, Refunding Second Series

2016

.000

09/01/27

3,888,378

1,350,000

Owen County, Kentucky, Water Facilities Revenue Bonds,

Kentucky-American Water Company Project, Refunding Series

2020, (Mandatory Put 9/01/28)

.875

06/01/40

1,384,123

1,800,000

Owen County, Kentucky, Waterworks System Revenue Bonds,

Kentucky-American Water Company Project, Refunding Series

2019A, (Mandatory Put 10/01/29)

.450

06/01/39

1,750,849

5,605,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2024B, (Mandatory Put 8/01/32)

.000

01/01/55

6,076,300

1,745,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2020A, (Mandatory Put 6/01/26)

.000

12/01/50

1,758,227

2,950,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2022A-1, (Mandatory Put 8/01/30)

.000

08/01/52

3,018,633

3,250,000

Rural Water Financing Agency, Kentucky, Construction Notes,

USDA Public Projects Series 2023A

.900

11/01/25

3,251,750

3,075,000

Trimble County, Kentucky, Pollution Control Revenue Bonds,

Louisville Gas and Electric Company Project, Series 2001A

.625

09/01/26

2,993,211

10,200,000

Trimble County, Kentucky, Pollution Control Revenue Bonds,

Louisville Gas and Electric Company Project, Series 2001B,

(AMT)

.350

11/01/27

9,798,391

21,345,000

Trimble County, Kentucky, Pollution Control Revenue Bonds,

Louisville Gas and Electric Company Project, Series 2016A,

(AMT), (Mandatory Put 9/01/27)

.300

09/01/44

19,952,770

TOTAL KENTUCKY

176,177,204

LOUISIANA - 2.2%

845,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Home Ownership Program, Series 2021D

.100

12/01/36

682,555

1,875,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Home Ownership Program, Series 2024A

.000

12/01/39

1,854,186

3,005,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Womans Hospital Foundation Project, Refunding Series

2017A

.000

10/01/25

3,005,000

17,820,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Westlake

Chemical Corporation Projects, Refunding Series 2017

.500

11/01/32

17,418,357

4,000,000

Louisiana Public Facilities Authority, Hospital Revenue Bonds,

Louisiana Children's Medical Center Hospital, Series 2015A-3.

Term Rate Mode, (Mandatory Put 6/01/28)

.000

06/01/45

4,197,939

6,340,000

Louisiana State, Gasoline and Fuels Tax Revenue Bonds,

Refunding Series 2025B

.000

05/01/30

7,029,331

12,000,000

Louisiana State, General Obligation Bonds, Refunding Series

2024E

.000

09/01/31

13,653,370

5,045,000

Louisiana State, General Obligation Bonds, Series 2024B

.000

08/01/27

5,281,074

925,000

New Orleans, Louisiana, Sewerage Service Revenue Bonds,

Series 2015

.000

06/01/26

926,534

2,780,000

(d) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2008, (Mandatory Put 6/01/30)

.100

06/01/38

3,007,761

1,255,000

(b) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2011, (Mandatory Put 6/01/30)

.000

08/01/41

1,258,876

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA

(continued)

$

16,405,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017A-1,

(Mandatory Put 7/01/26)

.050

%

06/01/37

$

16,549,206

17,200,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017A-3,

(Mandatory Put 7/01/26)

.200

06/01/37

17,117,012

10,010,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017B-2,

(Mandatory Put 7/01/26)

.375

06/01/37

9,974,595

TOTAL LOUISIANA

101,955,796

MAINE - 0.2%

2,955,000

Maine State Housing Authority, Multifamily Mortgage Purchase

Bonds, Series 2021A

.850

11/15/36

2,245,843

1,165,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Series 2020D

.300

11/15/35

966,746

3,000,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Series 2021B

.050

11/15/36

2,387,852

2,030,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2021C

.900

11/15/36

1,614,481

2,000,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2021D

.200

11/15/36

1,601,033

TOTAL MAINE

8,815,955

MARYLAND - 1.9%

7,205,000

Anne Arundel County, Maryland, General Obligation Bonds,

Consolidated General Improvement, Series 2019

.000

10/01/25

7,205,000

8,130,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement Series 2020

.000

03/01/27

8,432,277

6,000,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Refunding Series 2024A

.000

07/01/29

6,574,063

6,760,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Refunding Series 2024A

.000

07/01/30

7,563,928

11,510,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Series 2024

.000

02/01/27

11,911,745

10,000

Baltimore County, Maryland, Revenue Bonds, Oak Crest

Village, Series 2016

.250

01/01/31

9,950

1,000,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/26

1,009,664

6,820,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2019C

.700

09/01/34

6,207,601

4,250,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2020A

.300

09/01/35

3,548,512

4,880,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2020D

.950

09/01/35

3,995,479

12,000,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021A

.800

09/01/36

9,349,388

8,310,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021B

.875

09/01/36

6,547,055

12,000,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021C

.200

09/01/36

9,668,740

4,630,000

Montgomery County, Maryland, General Obligation Bonds,

Consolidated Public Improvement Series 2018A

.000

11/01/29

4,999,338

3,570,000

Prince George's County, Maryland, General Obligation Bonds,

Consolidated Public Improvement Series 2025A

.000

08/01/30

3,999,556

TOTAL MARYLAND

91,022,296

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MASSACHUSETTS - 1.6%

$

2,945,000

Boston, Massachusetts, General Obligation Bonds, Series

2025A

.000

%

02/01/29

$

3,221,802

3,000,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/31

3,423,054

2,780,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/29

2,948,043

2,750,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/30

2,916,118

2,515,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/31

2,661,757

2,110,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/32

2,224,561

160,000

(a) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (ETM)

.000

07/15/26

162,964

170,000

(a) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (ETM)

.000

07/15/27

177,436

175,000

(a) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (ETM)

.000

07/15/28

186,892

220,000

(a) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (ETM)

.000

07/15/30

244,783

2,135,000

Massachusetts Health and Educational Facilities Authority,

Variable Rate Demand Revenue Bonds, University of

Massachusetts Issue, Series 2000A, (Mandatory Put 4/01/26)

.450

11/01/30

2,126,978

1,975,000

Massachusetts Housing Finance Agency, Housing Bonds,

Series 2019B-1

.750

12/01/34

1,763,868

1,000,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2022A-2

.650

06/01/26

997,213

2,635,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2022C-3

.000

06/01/26

2,636,999

2,420,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2023A-3

.050

12/01/27

2,430,633

3,130,000

Massachusetts Housing Finance Agency, Multifamily Housing

Bonds, Green Series 2023C2

.000

12/01/27

3,154,598

1,000,000

Massachusetts Housing Finance Agency, Multifamily Housing

Bonds, Green Sustainability Series 2024B3

.500

06/01/29

1,010,908

5,000,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2020-220

.950

12/01/35

4,061,022

1,000,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2021-221

.000

12/01/36

795,961

2,725,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2021-222

.000

12/01/36

2,168,993

7,385,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2021-223

.150

12/01/36

6,008,850

15,000,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/30

16,648,083

3,680,000

Massachusetts State, General Obligation Bonds, Consolidated

Series 2024B

.000

05/01/26

3,734,882

4,525,000

Massachusetts State, General Obligation Bonds, Consolidated

Series 2024B

.000

05/01/27

4,716,022

6,750,000

Quincy, Massachusetts, General Obligation Bonds, Bonds

Anticipation Notes Series 2025

.000

07/24/26

6,881,304

TOTAL MASSACHUSETTS

77,303,724

MICHIGAN - 3.3%

2,400,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Refunding Second Lien Series 2025B

.000

07/01/35

2,736,454

5,000,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Refunding Senior Lien Series 2025A

.000

07/01/31

5,667,694

10,015,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Senior Lien Series 2024A

.000

07/01/26

10,198,944

7,510,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Senior Lien Series 2024A

.000

07/01/27

7,844,654

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MICHIGAN

(continued)

$

4,050,000

Michigan Finance Authority, Hospital Revenue Bonds,

Beaumont-Spectrum Consolidation, Fixed Refunding Series

2022A

.000

%

04/15/26

$

4,098,474

2,600,000

Michigan Finance Authority, Hospital Revenue Bonds,

Beaumont-Spectrum Consolidation, Fixed Refunding Series

2022A

.000

04/15/27

2,693,772

5,290,000

Michigan Finance Authority, Hospital Revenue Bonds,

Bronson Healthcare Group, Inc., Series 2019B, (Mandatory Put

11/16/26)

.000

11/15/44

5,332,004

4,780,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/29

5,185,361

2,000,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/27

2,062,825

5,115,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/28

5,364,365

7,115,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2018A

.550

10/01/33

7,118,582

2,180,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2022A

.300

04/01/26

2,180,375

9,430,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2023A

.750

04/01/27

9,431,387

1,350,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2024A

.700

04/01/30

1,352,697

1,820,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Fixed Rate Series 2018C

.350

12/01/34

1,808,815

4,640,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2016A

.100

12/01/31

4,622,200

10,020,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2019B

.700

12/01/34

9,069,154

14,835,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2020C

.350

12/01/35

12,476,158

6,000,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2021A

.950

12/01/36

4,800,808

2,000,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2022A

.000

12/01/37

2,001,591

5,655,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2024II

.000

10/15/27

5,947,093

3,890,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2025I

.000

04/15/29

4,231,363

2,000,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2025I

.000

04/15/30

2,221,013

3,040,000

Michigan State, Trunk Line Fund Bonds, Rebuilding Michigan

Program, Series 2023

.000

11/15/26

3,128,825

12,165,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Consumers Energy Company Project, Series 2019, (AMT),

(Mandatory Put 10/01/27)

.350

10/01/49

12,102,499

7,730,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Consumers Energy Company Project, Variable Rate Series

2005, (AMT), (Mandatory Put 10/08/26)

.875

04/01/35

7,487,698

7,230,000

Michigan Strategic Fund, Limited Obligation Revenue

Bonds, Detroit Edison Company Exempt Facilities Project,

Collateralized Series 2023DT, (AMT), (Mandatory Put 6/03/30)

.875

06/01/53

7,089,055

2,285,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Graphic Packaging International, LLC Coated Recycled Board

Machine Project, Green Series 2021, (AMT), (Mandatory Put

10/01/26)

.000

10/01/61

2,284,041

7,500,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2023E -

AGM Insured, (AMT)

.000

12/01/28

7,981,118

TOTAL MICHIGAN

158,519,019

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA - 1.1%

$

2,740,000

Eastern Carver County Independent School District 112,

Minnesota, General Obligation Bonds, Facilities Maintenance

Series 2025A

.000

%

02/01/29

$

2,969,879

5,030,000

Minneapolis, Minnesota, Health Care System Revenue Bonds,

Allina Health System, Series 2023A, (Mandatory Put 11/15/28)

.000

11/15/52

5,314,647

1,265,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020B

.400

01/01/35

1,094,905

2,275,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020E

.250

07/01/35

1,890,437

4,330,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020I

.875

07/01/35

3,528,973

5,595,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2021D

.000

07/01/36

4,516,648

5,045,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2021F

.000

07/01/36

4,069,785

8,415,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2021H

.150

07/01/36

6,934,086

3,285,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Social Series 2022A

.600

07/01/37

2,822,082

6,820,000

Minnesota Public Facilities Authority, State Clean Water

Revolving Fund Revenue Bonds, Series 2016A

.000

03/01/31

6,880,136

2,000,000

Minnesota Rural Water Finance Authority, Public Projects

Construction Notes, Series 2025

.300

08/01/26

2,002,673

4,315,000

(b) Minnesota State, General Obligation Bonds, State Trunk

Highway Series 2021B

.000

08/01/31

4,912,565

6,000,000

(b) Minnesota State, General Obligation Bonds, Various Purpose

Bid Groups 1 & 2 Series 2025A

.000

08/01/30

6,734,120

TOTAL MINNESOTA

53,670,936

MISSISSIPPI - 0.6%

7,755,000

Lowndes County, Mississippi, Solid Waste Disposal and

Pollution Control Revenue Bonds, International Paper

Company Project, Refunding Series 2022, (Mandatory Put

4/01/27)

.650

04/01/37

7,728,045

5,865,000

Mississippi Business Finance Corporation, Pollution Control

Revenue, Mississippi Power, Series 2002

.200

09/01/28

5,866,521

3,500,000

Mississippi Development Bank, Special Obligation Bonds,

Mississippi Highway Refunding Project, Refunding Series

2024A

.000

01/01/30

3,839,027

6,000,000

Mississippi Development Bank, Special Obligation Bonds,

Mississippi Highway Refunding Project, Refunding Series

2024A

.000

01/01/31

6,694,657

1,230,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2020A

.250

12/01/35

1,009,155

615,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2021A

.800

12/01/35

489,233

1,500,000

Mississippi State, Gaming Tax Revenue Bonds, Series 2019A

.000

10/15/26

1,535,830

2,365,000

Warren County, Mississippi, Gulf Opportunity Zone Revenue

Bonds, International Paper Company Project, Refunding Series

20218

.000

09/01/32

2,430,629

TOTAL MISSISSIPPI

29,593,097

MISSOURI - 0.9%

5,330,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Refunding Series 1998A

.900

09/01/33

4,938,092

11,000,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998B

.900

09/01/33

10,191,183

5,255,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998C

.750

09/01/33

4,861,913

12,465,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Series 2021B,

(Mandatory Put 5/01/26)

.000

05/01/51

12,556,022

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MISSOURI

(continued)

$

2,520,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, SSM Health Care, Series 2022A

.000

%

06/01/27

$

2,607,438

2,700,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024E

.125

11/01/39

2,671,720

730,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2019C

.500

11/01/34

644,252

1,065,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2021A

.950

11/01/36

854,442

1,890,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2021B

.800

11/01/36

1,464,030

TOTAL MISSOURI

40,789,092

MONTANA - 0.2%

1,115,000

Gallatin County, Montana, General Obligation Bonds, Series

2023

.000

07/01/33

1,290,549

1,300,000

Gallatin County, Montana, General Obligation Bonds, Series

2023

.000

07/01/35

1,469,074

1,000,000

Lewis and Clark County School District 9 East Helena, Montana,

General Obligation Bonds, School Building Series 2018

.000

07/01/27

1,041,933

1,055,000

Lewis and Clark County School District 9 East Helena, Montana,

General Obligation Bonds, School Building Series 2018

.000

07/01/28

1,122,825

1,335,000

Lewis and Clark County School District 9 East Helena, Montana,

General Obligation Bonds, School Building Series 2018

.000

07/01/29

1,414,968

2,000,000

Montana Board of Housing, Multifamily Housing Revenue

Bonds, Aurora Apartments Series 2024, (Mandatory Put

2/01/28)

.320

07/01/46

2,014,583

750,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2021A-1

.850

12/01/36

583,698

500,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2021B

.850

12/01/36

389,132

TOTAL MONTANA

9,326,762

NATIONAL - 0.1%

2,601,433

Freddie Mac Multi-Family ML Certificates, Series ML 05, Series

2019A

.400

01/25/36

2,469,995

TOTAL NATIONAL

2,469,995

NEBRASKA - 0.6%

8,345,000

Central Plains Energy Project, Nebraska, Gas Project 4 Revenue

Bonds, Refunding Series 2023A-1, (Mandatory Put 11/01/29)

.000

05/01/54

8,943,900

5,040,000

Central Plains Energy Project, Nebraska, Gas Supply

Revenue Bonds, Refunding Series 2025A Subseries 2025A-1,

(Mandatory Put 8/01/31)

.000

08/01/55

5,451,576

1,915,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2019D

.600

09/01/34

1,723,579

8,895,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2020A

.350

09/01/35

7,432,579

2,490,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2021A

.850

09/01/35

1,999,662

3,555,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2021C

.100

09/01/36

2,865,563

1,630,000

Sarpy County School District 037 Gretna Public Schools,

Nebraska, General Obligation Bonds, Series 2022B

.000

12/15/27

1,636,219

TOTAL NEBRASKA

30,053,078

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEVADA - 0.4%

$

6,385,000

Clark County, Nevada, Airport Revenue Bonds, Junior

Subordinate Lien Notes Series 2021B, (AMT)

.000

%

07/01/27

$

6,624,897

3,500,000

Clark County, Nevada, Pollution Control Revenue Bonds,

Nevada Power Company Project, Refunding Series 2017,

(Mandatory Put 3/31/26)

.750

01/01/36

3,508,839

1,000,000

(c),(d)

Director of the State of Nevada Department of Business and

Industry, Solid Waste Disposal Revenue Bonds, Republic

Services Inc., Variable Rate Demand Series 2001, (AMT),

(Mandatory Put 12/01/25)

.950

12/01/26

999,870

1,970,000

Nevada Housing Division, Single Family Housing Mortgage

Revenue Bonds, Refunding Series 2021A

.850

10/01/33

1,653,333

1,970,000

Nevada Housing Division, Single Family Housing Mortgage

Revenue Bonds, Refunding Series 2021A

.000

10/01/36

1,576,549

3,000,000

Nevada Housing Division, Single Family Housing Mortgage

Revenue Bonds, Refunding Series 2021B

.200

10/01/36

2,410,944

TOTAL NEVADA

16,774,432

NEW HAMPSHIRE - 0.9%

8,485,000

National Finance Authority, New Hampshire, Pollution Control

Revenue Bonds, New York State Electric & Gas Corporation

Project, Refunding Series 2022A, (AMT)

.000

12/01/28

8,627,281

3,605,000

National Finance Authority, New Hampshire, Solid Waste

Disposal Revenue Bonds, Waste Management, INC., Project,

Refunding Series 2018A, (AMT), (Mandatory Put 7/01/26)

.000

10/01/33

3,607,368

11,000,000

New Hampshire Business Finance Authority, Pollution Control

Revenue Bonds, United Illuminating Company, Refunding

Series 2003A

.500

10/01/33

11,516,325

5,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth College, Series 2015A, (Mandatory

Put 8/03/27)

.300

06/01/40

5,029,937

4,500,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth College, Series 2015D, (Mandatory

Put 8/03/27)

.300

06/01/38

4,526,943

8,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth College, Series 2025A

.000

06/01/32

9,129,297

2,505,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2024C

.100

07/01/39

2,487,136

TOTAL NEW HAMPSHIRE

44,924,287

NEW JERSEY - 2.1%

1,000,000

Delran Township, New Jersey, General Obligation Bonds,

Series 2019

.000

10/15/27

977,395

1,000,000

Delran Township, New Jersey, General Obligation Bonds,

Series 2019

.000

10/15/28

961,181

1,000,000

Delran Township, New Jersey, General Obligation Bonds,

Series 2019

.000

10/15/29

948,256

1,000,000

Freehold Township Board of Education, Monmouth County,

New Jersey, General Obligation Bonds, School Series 2025

.000

08/15/29

1,062,184

3,640,000

Gloucester Township, New Jersey, General Obligation Bonds,

Series 2019 - BAM Insured

.000

02/01/26

3,623,341

3,975,000

Gloucester Township, New Jersey, General Obligation Bonds,

Series 2019 - BAM Insured

.000

02/01/27

3,911,497

6,180,000

New Jersey Economic Development Authority, Revenue Bonds,

Motor Vehicle Surcharge, Refunding Subordinate Series 2017A

.375

07/01/30

6,134,166

6,135,000

(a) New Jersey Economic Development Authority, School Facilities

Construction Bonds, Series 2018EEE, (Pre-refunded 12/15/28)

.000

06/15/33

6,630,975

920,000

New Jersey Economic Development Authority, Special

Facilities Revenue Bonds, Continental Airlines Inc., Series 1999,

(AMT)

.250

09/15/29

921,267

9,180,000

New Jersey Economic Development Authority, Water Facilities

Revenue Bonds, New Jersey-American Water Company Inc.

Project, Refunding Series 2020E, (AMT)

.850

12/01/25

9,121,154

3,165,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Princeton University, Series 2025A, (Mandatory Put 7/01/35)

.000

07/01/64

3,642,957

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW JERSEY

(continued)

$

2,600,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Inspira Health Obligated Group Issue, Refunding Series

2016A

.000

%

07/01/29

$

2,639,465

3,200,000

New Jersey Housing and Mortgage Finance Agency,

Multifamily Revenue Bonds, Series 2024B

.500

05/01/29

3,251,871

7,230,000

New Jersey Transportation Trust Fund Authority, Federal

Highway Reimbursement Revenue Notes, Series 2018A

.000

06/15/28

7,348,372

1,645,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2014BB-1

.000

06/15/30

1,764,921

1,345,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019A

.000

12/15/26

1,383,726

2,000,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019BB

.000

06/15/32

2,128,827

5,125,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/27

5,305,459

5,490,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/28

5,795,166

14,205,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/29

14,972,124

3,580,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/34

3,697,890

2,385,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/37

2,319,785

6,795,000

Toms River Board of Education, Ocean County, New Jersey,

General Obligation Bonds, Regional Schools Series 2019

.250

07/15/28

6,455,915

6,710,000

Union County, New Jersey, General Obligation Bonds, Series

2018

.000

03/01/28

6,712,855

TOTAL NEW JERSEY

101,710,749

NEW MEXICO - 0.8%

13,630,000

Farmington, New Mexico, Pollution Control Revenue Bonds,

Public Service Company of New Mexico San Juan Project,

Refunding Series 2010A, (Mandatory Put 10/01/26)

.875

06/01/40

13,267,525

15,000,000

New Mexico Finance Authority, New Mexico, Transportation

Revenue Bonds, State Transportation Commission, Refunding

Senior Lien Series 2024A

.000

06/15/27

15,653,301

1,695,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2019D

.800

07/01/34

1,565,052

2,140,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021A

.950

07/01/36

1,735,276

985,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021C

.875

07/01/36

780,380

1,180,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024E

.125

09/01/39

1,170,001

1,760,000

San Juan County, New Mexico, Gross Receipts Tax Revenue

Bonds, Refunding Series 2015A

.000

06/15/26

1,762,860

203,000

(d) Winrock Town Center Tax Increment Development District

1, Albuquerque, New Mexico, Gross Receipts Tax Increment

Bonds, Senior Lien Series 2022

.750

05/01/28

202,990

TOTAL NEW MEXICO

36,137,385

NEW YORK - 8.1%

10,000,000

Chautauqua County Capital Resource Corporation, New York,

Facilities Revenue Bonds, NRG Energy Project Refunding Series

2020, (Mandatory Put 4/03/28)

.250

04/01/42

10,132,544

1,725,000

Dormitory Authority of the State of New York, Revenue Bonds,

Montefiore Obligated Group, Series 2020A

.000

09/01/27

1,776,506

5,000,000

Dormitory Authority of the State of New York, Revenue Bonds,

Northwell Healthcare Inc, Series 2019B-1, (Mandatory Put

11/01/28)

.800

05/01/48

4,802,453

1,400,000

Dormitory Authority of the State of New York, Revenue Bonds,

School Districts Financing Program, Series 2025A

.000

10/01/28

1,508,815

8,600,000

Dutchess County Local Development Corporation, New York,

Revenue Bonds, Health Quest Systems, Inc. Project, Series

2016B

.000

07/01/30

8,714,724

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

2,500,000

Long Island Power Authority, New York, Electric System General

Revenue Bonds, Series 2024B, (Mandatory Put 9/01/29)

.000

%

09/01/49

$

2,526,127

5,020,000

Metropolitan Transportation Authority, New York, Dedicated

Tax Fund Bonds, Climate Bond Certified, Refunding Green

Series 2016B-2

.000

11/15/32

5,143,771

3,500,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Refunding Series 2025B

.000

11/15/28

3,741,029

11,180,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Refunding Series 2025B

.000

11/15/29

12,174,046

2,250,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Refunding Green Climate

Certified Series 2020E

.000

11/15/32

2,467,613

10,850,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Series 2015C-1

.250

11/15/29

10,884,342

1,065,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014B

.000

07/01/26

1,066,284

1,500,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014B

.000

07/01/27

1,501,703

10,020,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Green Series 2023A-2,

(Mandatory Put 12/30/27)

.700

05/01/63

10,031,861

10,250,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Green Bond 2021K-2, (Mandatory Put 1/01/26)

.900

11/01/60

10,182,891

3,065,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024B-2, (Mandatory Put 7/03/28)

.700

05/01/64

3,116,731

5,835,000

New York City Housing Development Corporation, New

York, Multifamily Housing Revenue Bonds, Sustainable

Neighborhood Green Series 2020D-1B

.000

11/01/35

4,806,758

3,170,000

New York City Housing Development Corporation, New

York, Multifamily Housing Revenue Bonds, Sustainable

Neighborhood Series 2019A-3A

.450

11/01/34

3,170,071

3,010,000

New York City Housing Development Corporation, New

York, Multifamily Housing Revenue Bonds, Sustainable

Neighborhood Series 2019G-1B

.550

11/01/34

2,711,997

825,000

New York City Industrial Development Agency, New York, Civic

Facility Revenue Bonds, The Churchill School and Center for

Learning Disabilities Inc., Short Term Auction Rate Series 1999

- AGM Insured

.250

10/01/29

790,458

6,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2016 Series E-1

.000

02/01/34

6,036,562

8,845,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2021 Subseries A

.000

11/01/28

9,523,153

8,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2025 Subseries Series

.000

11/01/27

8,431,921

810,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2024G-1

.000

05/01/27

842,521

4,665,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025C-1

.000

05/01/29

5,077,515

1,500,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025D

.000

05/01/28

1,597,034

2,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025D

.000

05/01/29

2,176,855

1,500,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025D

.000

05/01/30

1,666,528

5,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025F-1

.000

11/01/28

5,383,354

6,600,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025F-1

.000

11/01/29

7,259,677

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

4,375,000

New York City, New York, General Obligation Bonds, Fiscal

2017 Series A-1

.000

%

08/01/33

$

4,440,260

27,510,000

New York City, New York, General Obligation Bonds, Fiscal

2020 Series C-1

.000

08/01/27

28,817,537

3,125,000

New York City, New York, General Obligation Bonds, Fiscal

2023 Series 1

.000

08/01/26

3,190,248

7,710,000

New York City, New York, General Obligation Bonds, Fiscal

2025 Series A

.000

08/01/27

8,076,452

12,500,000

New York City, New York, General Obligation Bonds, Fiscal

2025 Series A

.000

08/01/28

13,373,024

5,500,000

New York State Energy Research and Development Authority,

Pollution Control Revenue Bonds, Rochester Gas and Electric

Corporation, Series 2004B, (AMT)

.000

05/15/32

5,622,478

2,080,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Sustainability Green

Series 2021J-2, (Mandatory Put 11/01/26)

.000

11/01/61

2,025,595

4,850,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Sustainability Green

Series 2021J-2, (Mandatory Put 5/01/27)

.100

11/01/61

4,679,236

9,545,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Green Series 2022A-2, (Mandatory Put

5/01/27)

.500

11/01/60

9,476,641

7,415,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Refunding Series 2019C

.500

11/01/34

7,426,530

4,185,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Refunding Series 2020H

.100

11/01/35

3,465,555

8,115,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Sustainability Green Series 2024C-2,

(Mandatory Put 5/01/29)

.600

11/01/63

8,184,582

6,675,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Sustainability Series 2023C-2, (Mandatory Put

5/01/29)

.800

11/01/62

6,678,136

1,835,000

New York State Housing Finance Agency, State Personal

Income Tax Revenue Bonds, Economic Development and

Housing Sustainability Green Series 2024B-2, (Mandatory Put

12/15/29)

.350

12/15/54

1,847,910

9,775,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 223

.650

10/01/34

8,832,064

2,415,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 225

.000

10/01/35

2,001,600

3,460,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 227

.100

10/01/35

2,872,462

3,555,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 231

.000

10/01/33

3,018,722

9,990,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 231

.200

10/01/36

8,028,443

4,640,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Social Series 239

.200

10/01/36

3,728,926

16,400,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Social Series 242

.950

10/01/37

14,519,125

10,000,000

New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Series 2025A

.000

03/15/29

10,889,179

1,785,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, American Airlines, Inc. John F

Kennedy International Airport Project, Refunding Series 2016,

(AMT)

.000

08/01/26

1,785,375

5,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

12/01/27

5,212,396

2,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

12/01/28

2,122,063

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

2,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

%

12/01/29

$

2,153,368

3,015,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2020, (AMT)

.000

10/01/30

3,058,697

1,000,000

Oyster Bay, Nassau County, New York, General Obligation

Bonds, Refunding Public Improvement Series 2022 - AGM

Insured

.000

08/01/27

1,050,664

3,105,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Forty Second Series 2023,

(AMT)

.000

12/01/26

3,179,502

10,000,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Forty Second Series 2023,

(AMT)

.000

12/01/27

10,448,372

4,000,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Second Series 2017, (AMT)

.000

10/15/33

4,103,625

500,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/27

500,865

2,220,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Senior Series

2021A-2

.000

06/01/26

2,249,294

2,200,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Senior Series

2021A-2

.000

06/01/28

2,313,022

1,245,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Senior Series

2021A-2

.000

06/01/32

1,343,500

10,000,000

Triborough Bridge and Tunnel Authority, New York, General

Revenue Bonds, MTA Bridges & Tunnels, Refunding Series

2023A

.000

11/15/26

10,293,315

3,000,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Bond

Anticipation Notes Series 2025A

.000

03/01/28

3,178,333

8,100,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Senior Lien

Green Climate Bond Certified Series 2022E-1

.000

11/15/27

8,496,702

10,000,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, Senior Lien Refunding Series 2022B

.000

05/15/26

10,162,675

1,925,000

TSASC Inc., New York, Tobacco Settlement Asset-Backed

Bonds, Fiscal 2017 Series A

.000

06/01/26

1,949,123

TOTAL NEW YORK

384,041,440

NORTH CAROLINA - 0.9%

6,705,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, DBA Carolinas HealthCare

System, Variable Rate Demand Series 2021B, (Mandatory Put

6/15/27)

.250

01/15/50

6,749,492

3,920,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, Doing Business as Atrium Health,

Variable Rate Series 2018C, (Mandatory Put 10/31/25)

.450

01/15/48

3,921,407

5,490,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, Doing Business as Atrium Health,

Variable Rate Series 2018E, (Mandatory Put 10/31/25)

.800

01/15/48

5,479,098

4,110,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Series 55C, (Mandatory

Put 1/15/26)

.200

07/01/56

4,110,228

870,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2019-42

.450

07/01/34

769,549

2,785,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2020-43

.625

01/01/35

2,523,763

5,000,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2021-47

.000

07/01/36

4,033,484

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NORTH CAROLINA

(continued)

$

1,645,000

North Carolina Municipal Power Agency 1, Catawba Electric

Revenue Bonds, Refunding Series 2015A

.000

%

01/01/28

$

1,654,716

10,730,000

Raleigh, North Carolina, North Carolina, Limited Obligation

Bonds, Series 2024

.000

10/01/27

11,295,591

TOTAL NORTH CAROLINA

40,537,328

NORTH DAKOTA - 0.8%

2,345,000

Cass County Joint Water Reserve District, North Dakota,

Temporary Improvement Special Assessment Bonds,

Refunding Series 2024A

.450

04/01/27

2,346,602

1,655,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2017A

.000

12/01/25

1,657,120

2,380,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2017A

.000

12/01/26

2,423,356

2,555,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2021

.000

12/01/27

2,640,148

225,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/27

225,616

500,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/28

485,342

400,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/29

383,692

430,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/30

407,979

355,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/32

325,295

5,330,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2023C

.000

05/01/32

5,575,250

670,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/29

707,854

530,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/30

567,112

555,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/31

599,201

580,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/32

629,001

610,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/33

663,016

6,235,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2019C

.800

07/01/32

5,947,447

2,285,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2019C

.000

07/01/34

2,143,638

2,500,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2020A

.700

07/01/35

2,221,501

3,250,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2020B

.100

07/01/35

2,675,879

3,600,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2021A

.050

07/01/36

2,924,891

2,540,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Social Series 2021B

.300

07/01/36

2,071,038

TOTAL NORTH DAKOTA

37,620,978

OHIO - 4.0%

1,500,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/27

1,553,066

9,130,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/28

9,637,497

12,185,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/29

13,079,517

10,480,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/31

11,333,786

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

4,400,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

%

06/01/32

$

4,726,784

3,110,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/33

3,317,382

7,895,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/34

8,344,676

4,470,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/35

4,691,327

1,520,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/37

1,489,369

2,275,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/38

2,197,973

1,015,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/39

967,554

1,000,000

Chillicothe, Ohio, Hospital Facilities Revenue Bonds, Adena

Health System Obligated Group Project, Refunding &

Improvement Series 2017

.000

12/01/25

1,003,003

2,745,000

Hilliard City School District, Franklin County, Ohio, General

Obligation Bonds, School Facilities Series 2025B

.000

12/01/29

3,027,882

6,000,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2005B, (AMT)

.700

07/01/28

6,009,078

3,345,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2005C, (AMT)

.700

04/01/28

3,350,048

15,750,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2007A, (AMT), (Mandatory Put 10/01/29)

.500

08/01/40

15,074,506

10,000,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2007B, (AMT), (Mandatory Put 10/01/29)

.500

11/01/42

9,571,115

2,380,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2014A, (Mandatory Put 10/01/29)

.400

12/01/38

2,269,144

11,905,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2014B, (AMT), (Mandatory Put 10/01/29)

.600

06/01/41

11,438,336

20,250,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Dayton Power & Light Company Project, Refunding

Collateralized Series 2015A, (AMT), (Mandatory Put 6/01/27)

.250

11/01/40

20,710,566

12,635,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Dueke Energy Corporation Project, Refunding Series

2022A, (AMT), (Mandatory Put 6/01/27)

.250

11/01/39

12,899,576

360,000

(d) Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Pratt Paper Ohio, LLC Project, Series 2017, (AMT)

.750

01/15/28

362,279

1,330,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2019A

.500

09/01/34

1,330,843

2,510,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2019B

.800

09/01/34

2,310,096

1,470,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2020A

.500

09/01/35

1,259,035

3,685,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2021A

.050

09/01/36

2,978,356

2,920,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2021C

.250

09/01/36

2,369,448

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

1,610,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A

.800

%

09/01/35

$

1,618,667

1,640,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A

.850

03/01/36

1,644,002

1,490,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A

.850

09/01/36

1,485,313

6,235,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024B

.100

09/01/39

6,217,932

1,850,000

Ohio State, General Obligation Bonds, Conservation Projects

Refunding Series 2022A

.000

09/01/27

1,909,086

2,505,000

Ohio State, General Obligation Bonds, Infrastructure

Improvement Refunding Series 2022B

.000

03/01/27

2,563,432

3,545,000

Ohio State, General Obligation Bonds, Infrastructure

Improvement Refunding Series 2022C

.000

09/01/27

3,658,222

2,440,000

Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health

System Obligated Group, Series 2019C, (Mandatory Put

5/01/28)

.750

01/01/52

2,429,621

5,050,000

Ohio Water Development Authority, Water Pollution Control

Loan Fund Revenue Bonds, Series 2020A

.000

12/01/39

5,342,726

1,395,000

Olentangy Local School District, Delaware and Franklin

Counties, Ohio, General Obligation Bonds, Refunding Series

2025B

.000

12/01/31

1,597,256

1,000,000

Olentangy Local School District, Delaware and Franklin

Counties, Ohio, General Obligation Bonds, Refunding Series

2025B

.000

12/01/32

1,154,817

TOTAL OHIO

186,923,316

OKLAHOMA - 4.1%

1,000,000

Blaine County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Watonga Public

Schools Project, Series 2022

.000

12/01/31

1,089,933

1,015,000

Blaine County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Watonga Public

Schools Project, Series 2022

.000

12/01/32

1,108,951

1,600,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Series 2020

.000

09/01/27

1,564,233

5,000,000

Canadian County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Mustang Public

Schools Project, Series 2023A

.000

09/01/31

5,572,340

5,015,000

Canadian County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Yukon Public

Schools Project, Series 2023

.000

09/01/27

5,229,267

4,400,000

Canadian County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Piedmont Public Schools Project, Series

2024

.000

08/15/32

4,607,156

9,095,000

Cleveland County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Public

Schools Project, Series 2021

.000

06/01/27

9,288,988

8,005,000

Cleveland County Independent School District 2 Moore,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2022

.000

03/01/26

7,970,551

8,010,000

Cleveland County Independent School District 2 Moore,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2022

.000

03/01/27

7,874,120

7,525,000

Cleveland County Independent School District 29 Norman,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2022

.000

03/01/26

7,483,186

1,000,000

Clinton Public Works Authority, Oklahoma, Educational

Facilities, Lease Revenue Bonds, Series 2022

.000

10/01/27

1,037,584

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

1,000,000

Clinton Public Works Authority, Oklahoma, Educational

Facilities, Lease Revenue Bonds, Series 2022

.250

%

10/01/28

$

1,002,451

4,410,000

Cushing Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Cushing Public

Schools Project, Series 2022

.000

09/01/32

4,929,521

2,330,000

Garfield County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Enid Public

Schools Project, Series 2016A

.000

09/01/26

2,372,565

200,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/26

203,526

450,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/27

467,258

525,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/29

554,239

560,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/30

590,352

1,100,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/31

1,155,399

860,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/32

900,223

1,305,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Minco Public

Schools Project, Series 2018

.000

09/01/31

1,371,467

1,000,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Minco Public

Schools Project, Series 2018

.000

09/01/32

1,045,354

1,305,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Minco Public

Schools Project, Series 2018

.000

09/01/33

1,358,374

5,045,000

Kay County Public Buildings Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Ponca City Public Schools

Project, Series 2022

.000

09/01/27

5,236,564

1,000,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/28

1,060,730

1,000,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/29

1,080,342

1,455,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Blanchard Public

Schools Project, Series 2019

.000

09/01/26

1,469,711

630,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Blanchard Public

Schools Project, Series 2019

.000

09/01/27

643,805

720,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Blanchard Public

Schools Project, Series 2019

.000

09/01/28

742,731

725,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Blanchard Public

Schools Project, Series 2019

.000

09/01/29

755,086

1,100,000

Okarche Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Okarche Public

Schools Project, Series 2016

.000

09/01/27

1,124,075

1,125,000

Okarche Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Okarche Public

Schools Project, Series 2016

.000

09/01/28

1,146,840

5,200,000

Oklahoma City, Oklahoma, General Obligation Bonds, Series

2024

.000

03/01/27

5,311,787

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

1,030,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Harrah Public Schools Project,

Series 2024

.000

%

09/01/28

$

1,093,217

590,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/26

594,897

1,000,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/27

1,021,725

1,195,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/28

1,231,037

1,000,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/29

1,039,615

1,000,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/30

1,048,037

1,000,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/31

1,043,562

1,000,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/32

1,037,358

3,650,000

Oklahoma County Independent School District 1 Putnam City,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2024

.250

04/01/26

3,657,133

2,530,000

Oklahoma County Independent School District 12 Edmond,

General Obligation Bonds, Combined Purpose Series 2024

.000

03/01/26

2,543,567

5,850,000

Oklahoma County Independent School District 89 Oklahoma

City, Oklahoma, General Obligation Bonds, Combined

Purpose Series 2024A

.250

07/01/26

5,778,515

6,850,000

Oklahoma County Independent School District 89, Oklahoma

City, Oklahoma, General Obligation Bonds, Combined

Purpose Series 2025A

.000

07/01/27

6,642,742

1,900,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/26

1,917,648

3,175,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/27

3,267,972

1,400,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/28

1,462,191

385,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/29

402,014

365,000

Oklahoma Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Homeownership Loan Program, Series 2020A

.650

09/01/35

330,223

7,500,000

Oklahoma Industries Authority, Educational Facilities Lease

Revenue Bonds, Oklahoma City Public Schools Project Series

2024

.000

04/01/27

7,761,173

2,000,000

Payne County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Stillwater Public

Schools Project, Series 2024 - BAM Insured

.000

09/01/26

2,039,457

260,000

Pittsburg County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, McAlester Public

Schools Project, Series 2021

.000

12/01/28

268,226

400,000

Pittsburg County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, McAlester Public

Schools Project, Series 2021

.000

12/01/29

416,242

350,000

Pittsburg County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, McAlester Public

Schools Project, Series 2021

.000

12/01/30

366,720

255,000

Pittsburg County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, McAlester Public

Schools Project, Series 2021

.000

12/01/31

267,905

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

380,000

Pittsburg County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, McAlester Public

Schools Project, Series 2021

.000

%

12/01/32

$

399,456

545,000

Pontotoc County Educational Facilities Authority, Oklahoma,

Facilities Lease Revenue Bonds, Ada Public Schools Project,

Series 2021

.000

09/01/26

549,770

1,290,000

Pontotoc County Educational Facilities Authority, Oklahoma,

Facilities Lease Revenue Bonds, Ada Public Schools Project,

Series 2021

.000

09/01/28

1,326,715

770,000

Rogers County Industrial Development Authority, Oklahoma,

Capital Improvement Revenue Bonds, Refunding Series 2017

.000

04/01/26

770,187

715,000

Rogers County Industrial Development Authority, Oklahoma,

Capital Improvement Revenue Bonds, Refunding Series 2017

.000

04/01/27

715,220

400,000

Sand Springs Municipal Authority, Oklahoma, Utility System

Revenue Bonds, Refunding Series 2020

.000

11/01/31

399,666

500,000

Sand Springs Municipal Authority, Oklahoma, Utility System

Revenue Bonds, Refunding Series 2020

.000

11/01/32

492,509

530,000

Sand Springs Municipal Authority, Oklahoma, Utility System

Revenue Bonds, Refunding Series 2020

.000

11/01/33

512,917

1,990,000

Stephens County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Marlow Public

Schools Project, Series 2022

.000

09/01/34

2,167,990

1,075,000

Stephens County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Marlow Public

Schools Project, Series 2022

.000

09/01/35

1,160,100

1,115,000

Texas County Development Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Guymon Public Schools

Project, Series 2018

.000

12/01/25

1,118,706

3,625,000

Tulsa County Independent School District 001 Tulsa,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2023A

.000

03/01/26

3,586,514

8,750,000

Tulsa County Independent School District 001 Tulsa,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2024A

.050

04/01/26

8,607,429

10,000,000

Tulsa County Independent School District 4, Tulsa County,

Oklahoma, Combined Purpose Bixby Series 2024

.000

07/01/26

10,074,923

10,740,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Broken Arrow Public Schools

Project, Series 2019A

.000

09/01/28

11,470,725

12,800,000

Tulsa, Oklahoma, General Obligation Bonds, Series 2021

.500

11/01/25

12,760,599

1,470,000

Wagoner County School Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Wagoner Public

Schools Project, Series 2019

.000

09/01/27

1,499,452

300,000

Wagoner County School Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Wagoner Public

Schools Project, Series 2019

.000

09/01/28

308,708

530,000

Washington County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Caney Valley

Public Schools Project, Series 2021

.000

09/01/27

529,830

490,000

Washington County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Caney Valley

Public Schools Project, Series 2021

.000

09/01/29

484,249

1,850,000

Washington County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Caney Valley

Public Schools Project, Series 2021

.000

09/01/31

1,794,616

1,760,000

Weatherford Industrial Trust Educational, Oklahoma, Facilities

Lease Revenue Bonds, Weatherford Public Schools Project,

Series 2019

.000

03/01/27

1,809,271

TOTAL OKLAHOMA

195,119,437

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OREGON - 1.0%

$

1,085,000

Benton and Linn Counties District School District 509J

Corvallis, Oregon, General Obligation Bonds, Series 2018A

.000

%

06/15/26

$

1,104,067

1,000,000

Benton and Linn Counties District School District 509J

Corvallis, Oregon, General Obligation Bonds, Series 2018A

.000

06/15/27

1,044,238

2,390,000

Clackamas County School District 12, North Clackamas,

Oregon, General Obligation Bonds, Series 2017B

.000

06/15/27

2,493,684

2,105,000

Clackamas County School District 12, North Clackamas,

Oregon, General Obligation Bonds, Series 2017B

.000

06/15/28

2,192,724

1,000,000

Mount Hood Community College District, Oregon, General

Obligation Bonds, Series 2025

.000

06/15/30

1,115,553

1,250,000

Mount Hood Community College District, Oregon, General

Obligation Bonds, Series 2025

.000

06/15/31

1,415,356

3,040,000

Mount Hood Community College District, Oregon, General

Obligation Bonds, Series 2025

.000

06/15/32

3,480,414

1,200,000

Oregon Department of Transportation, Revenue Bonds, Grant

Anticipation, Social 2024

.000

05/15/27

1,250,386

11,585,000

Oregon Health and Science University, Revenue Bonds,

Exchange Series 2021C, (Mandatory Put 2/01/29)

.000

07/01/42

11,969,468

7,525,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2021A

.050

07/01/36

6,113,834

8,000,000

(d) Port of Morrow, Morrow County Oregon, Full Faith and Credit

Obligations, Series 2024A

.150

10/01/26

7,999,946

2,500,000

Portland, Oregon, Water System Revenue Bonds, Refunding

Second Lien Series 2024A

.000

05/01/27

2,601,961

2,750,000

Portland, Oregon, Water System Revenue Bonds, Refunding

Second Lien Series 2024A

.000

05/01/28

2,932,171

1,000,000

Salem-Keizer School District 24J, Marion and Polk Counties,

Oregon, General Obligation Bonds, Series 2009B

.000

06/15/27

955,176

TOTAL OREGON

46,668,978

PENNSYLVANIA - 4.0%

5,410,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2021A,

(AMT)

.000

01/01/26

5,438,578

2,055,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/26

2,075,414

4,435,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/27

4,575,538

1,513,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-2

.000

06/30/34

1,583,066

19,483,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-3

.000

06/30/39

17,640,744

10,137,000

(e) Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024B-1

.000

06/30/44

7,174,395

1,575,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Taxable Series 2024A-1

.000

06/30/34

1,555,706

3,775,000

Clarion County Industrial Development Authority, Pennsylvania,

Revenue Bonds, Pennsylvania-American Water Company

Project, Refunding Series 2019, (AMT), (Mandatory Put

12/03/29)

.450

12/01/39

3,486,684

1,025,000

Commonwealth Financing Authority, Pennsylvania, State

Appropriation Lease Bonds, Master Settlement, Series 2018 -

AGM Insured

.000

06/01/39

1,007,008

390,000

Lehigh County Industrial Development Authority, Pennsylvania,

Pollution Control Revenue Bonds, Pennsylvania Power and

Light Company, Series 2016A

.000

09/01/29

392,268

5,230,000

Lehigh County Industrial Development Authority, Pennsylvania,

Pollution Control Revenue Bonds, Pennsylvania Power and

Light Company, Series 2016B

.625

02/15/27

5,226,804

4,565,000

Lower Merion School District, Montgomery County,

Pennsylvania, General Obligation Bonds, Series 2019

.000

11/15/30

4,722,720

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

8,065,000

Luzerne County Industrial Development Authority,

Pennsylvania, Revenue Bonds, Pennsylvania-American Water

Company Project, Refunding Series 2019, (AMT), (Mandatory

Put 12/03/29)

.450

%

12/01/39

$

7,454,842

6,540,000

Montgomery County Industrial Development Authority,

Pennsylvania, Facilities Revenue Bonds, Constellation Energy

Generation LLC Project, Refunding Series 2023A, (Mandatory

Put 4/03/28)

.100

04/01/53

6,738,324

1,000,000

(b) North Allegheny School District, Allegheny County,

Pennsylvania, General Obligation Bonds, Series 2025

.000

05/01/30

1,110,120

504,166

(f) Northampton County Industrial Development Authority,

Pennsylvania, Recovery Revenue Bonds, Northampton

Generating Project, Senior Lien Series 2013A0 & AE2

.200

06/30/27

221,833

277,700

(f) Northampton County Industrial Development Authority,

Pennsylvania, Recovery Revenue Bonds, Northampton

Generating Project, Senior Lien Taxable Series 2013B, (cash

5.000%, PIK 5.000%)

.900

06/30/27

49,986

3,000,000

(c) Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Republic Services Inc

Project, Series 2019B-2, (AMT), (Mandatory Put 1/15/26)

.850

04/01/49

2,998,720

15,000,000

Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Waste Management

Inc., Project, Refunding Series 2021B, (AMT), (Mandatory Put

11/02/26)

.100

06/01/31

14,566,350

3,750,000

Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Waste Management Inc.,

Project, Series 2009, (Mandatory Put 12/01/26)

.950

12/01/33

3,624,761

1,270,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-122

.250

10/01/28

1,272,480

1,750,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-123B

.450

10/01/32

1,755,559

6,135,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-124B

.200

10/01/32

6,129,309

3,390,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-125A, (AMT)

.000

04/01/27

3,383,718

3,345,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-125A, (AMT)

.050

10/01/27

3,345,057

8,730,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-125A, (AMT)

.400

10/01/32

8,472,716

1,035,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-128A, (AMT)

.650

10/01/32

1,020,223

2,555,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-129

.950

10/01/34

2,367,118

7,070,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-130A

.500

10/01/34

6,253,036

4,850,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2020-132A

.300

10/01/35

4,071,889

10,010,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2021-137

.250

10/01/36

8,102,083

3,620,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-145A

.950

04/01/35

3,661,386

9,000,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2023

.000

09/01/27

9,432,751

5,000,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2025A

.000

08/15/29

5,471,762

8,250,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2025A

.000

08/15/33

9,494,253

5,000,000

Pennsylvania State, General Obligation Bonds, First Series

2024

.000

08/15/30

5,569,416

4,420,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Second Series 2016B-2

.000

06/01/29

4,482,743

1,000,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Saint Joseph's University Project,

Refunding Series 2020C. Forward Delivery

.000

11/01/25

1,001,517

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

850,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Saint Joseph's University Project,

Refunding Series 2020C. Forward Delivery

.000

%

11/01/26

$

868,896

1,000,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Saint Joseph's University Project,

Refunding Series 2020C. Forward Delivery

.000

11/01/27

1,040,917

1,000,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Saint Joseph's University Project,

Refunding Series 2020C. Forward Delivery

.000

11/01/28

1,058,020

1,000,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Saint Joseph's University Project,

Refunding Series 2020C. Forward Delivery

.000

11/01/29

1,073,343

3,100,000

Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding

Series 2025B, (AMT)

.000

07/01/29

3,327,297

380,000

Scranton-Lackawanna Health and Welfare Authority,

Pennsylvania, University Revenue Bonds, Marywood University,

Series 2016

.375

06/01/26

374,871

2,550,000

Washington County Industrial Development Authority,

Pennsylvania, College Revenue Bonds, AICUP Financing

Program-Washington and Jefferson College Project, Series

2017-PP5

.000

11/01/25

2,552,698

1,200,000

Westmoreland County Industrial Development Authority,

Pennsylvania, Revenue Bonds, Excela Health Project, Series

2020A

.000

07/01/27

1,232,643

TOTAL PENNSYLVANIA

188,459,562

PUERTO RICO - 3.0%

2,500,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Forward Delivery Series 2022A

.000

07/01/33

2,613,803

3,700,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2020A

.000

07/01/30

3,861,757

2,500,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2020A

.000

07/01/35

2,576,331

935,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/33

973,818

3,880,000

(a) Puerto Rico Industrial, Tourist, Educational, Medical and

Environmental Control Facilities Financing Authority, Hospital

Revenue Bonds, Hospital de la Concepcion, Series 2017A, (Pre-

refunded 11/15/26)

.550

11/15/30

3,907,917

21,485,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/27

20,323,734

36,562,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/29

32,380,422

30,188,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/31

24,735,594

10,142,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/33

7,634,197

636,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.500

07/01/34

636,201

105,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/46

35,856

5,927,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.329

07/01/40

5,677,517

17,443,053

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/27

18,059,738

13,828,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/29

14,798,643

1,860,601

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.750

07/01/31

2,063,067

1,674,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

1,197,623

710,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

702,553

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PUERTO RICO

(continued)

$

634,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

%

07/01/35

$

618,888

TOTAL PUERTO RICO

142,797,659

RHODE ISLAND - 0.7%

3,440,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2019 Series 70

.800

10/01/34

3,160,891

14,005,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2021 Series 75A

.050

10/01/36

11,289,827

9,795,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2022 Series 76A

.350

10/01/36

8,109,620

3,070,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bonds, Series 73-A

.100

10/01/35

2,548,688

5,000,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bonds, Series 74

.125

10/01/36

4,094,811

1,230,000

Rhode Island Housing and Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, Series 2020-72A

.300

10/01/35

1,024,437

2,925,000

Rhode Island Tobacco Settlement Financing Corporation,

Tobacco Settlement Asset-Backed Bonds, Series 2015B

.500

06/01/45

2,864,991

TOTAL RHODE ISLAND

33,093,265

SOUTH CAROLINA - 0.7%

455,000

Lexington County Health Services District, Inc., South Carolina,

Hospital Revenue Bonds, Refunding Series 2017

.000

11/01/26

465,851

6,000,000

Patriots Energy Group Financing Agency, South Carolina,

Gas Supply Revenue Bonds, Series 2023A-1, (Mandatory Put

8/01/31)

.250

10/01/54

6,540,037

3,985,000

South Carolina Association of Governmental Organizations,

Educational Facilities Corporation for Pickens School District,

Installment Purchase Revenue Bonds, Pickens County,

Refunding Series 2025

.000

12/01/29

4,374,905

1,140,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2019B

.650

07/01/34

1,035,452

2,830,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2020B

.000

07/01/35

2,289,319

6,105,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2021A

.850

07/01/36

4,819,151

595,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2023A

.450

07/01/38

606,642

2,865,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2024B

.000

07/01/39

2,847,431

11,050,000

South Carolina Jobs-Economic Development Authority,

Revenue Bonds, International Paper Company Project,

Refunding Environmental Improvement Series 2023A, (AMT),

(Mandatory Put 4/01/26)

.000

04/01/33

11,103,652

TOTAL SOUTH CAROLINA

34,082,440

SOUTH DAKOTA - 0.4%

3,060,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2021A

.900

11/01/36

2,436,884

5,000,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2021B

.850

11/01/36

3,902,470

7,310,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2022B

.300

11/01/37

5,914,610

1,225,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2022C

.125

11/01/37

1,225,212

2,275,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2024C

.000

11/01/37

2,274,677

2,755,000

(b) South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2025E

.250

05/01/56

3,150,383

TOTAL SOUTH DAKOTA

18,904,236

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TENNESSEE - 1.0%

$

3,650,000

Hamilton County, Tennessee, General Obligation Bonds,

Refunding Series 2024B

.000

%

05/01/30

$

4,082,118

2,335,000

Knox County Health, Educational and Housing Facility Board,

Tennessee, Hospital Revenue Bonds, East Tennessee Children's

Hospital, Series 2019

.000

11/15/32

2,476,436

2,810,000

Knox County Health, Educational and Housing Facility Board,

Tennessee, Hospital Revenue Bonds, East Tennessee Children's

Hospital, Series 2019

.000

11/15/33

2,961,979

800,000

Metropolitan Nashville Airport Authority, Tennessee, Airport

Improvement Revenue Bonds, Series 2022B, (AMT)

.000

07/01/26

812,295

700,000

Metropolitan Nashville Airport Authority, Tennessee, Airport

Improvement Revenue Bonds, Series 2022B, (AMT)

.000

07/01/27

725,084

10,800,000

Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series

2021A, (Mandatory Put 9/01/28)

.000

12/01/51

11,068,675

1,640,000

Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series

2022A, (Mandatory Put 12/01/30)

.500

10/01/53

1,770,690

840,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2015-1C

.850

07/01/32

840,195

2,890,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-1

.400

07/01/34

2,877,270

3,050,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-2

.800

07/01/34

2,816,170

610,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2020-3A

.100

07/01/35

507,403

1,835,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-1

.050

07/01/36

1,492,522

2,285,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-2

.000

07/01/37

1,775,051

3,345,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-3

.050

07/01/36

2,717,711

900,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2022-2

.050

07/01/37

906,203

3,750,000

The Tennessee Energy Acquisition Corporation, Gas Project

Revenue Bonds, Refunding Series 2025A

.000

12/01/35

4,058,922

2,155,000

The Tennessee Energy Acquisition Corporation, Gas Project

Revenue Bonds, Series 2018, (Mandatory Put 11/01/25)

.000

11/01/49

2,157,379

2,000,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006B

.625

09/01/26

2,032,101

TOTAL TENNESSEE

46,078,204

TEXAS - 10.7%

1,445,000

Arlington, Texas, Water and Wastewater System Revenue

Bonds, Refunding Improvement Series 2024

.000

06/01/26

1,468,915

1,660,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/26

1,662,834

1,290,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/27

1,304,638

1,920,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/29

1,941,637

550,000

Austin, Texas, Airport System Revenue Bonds, Series 2019B,

(AMT)

.000

11/15/25

551,371

5,365,000

(b) Austin, Texas, Certificates of Obligation, Series 2025

.000

09/01/29

5,870,054

2,310,000

Austin, Texas, General Obligation Bonds, Refunding & Public

Improvement Series 2023

.000

09/01/26

2,361,703

2,280,000

Austin, Texas, General Obligation Bonds, Refunding & Public

Improvement Series 2023

.000

09/01/27

2,389,193

1,050,000

Austin, Texas, Water and Wastewater System Revenue Bonds,

Refunding Forward Delivery Series 2023

.000

11/15/26

1,078,909

12,015,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2024B

.000

08/15/29

13,167,289

6,950,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2025A

.000

08/15/28

7,455,838

13,415,000

Central Texas Regional Mobility Authority, Revenue Bonds,

Anticipation Notes Subordinate Lien Series 2021C

.000

01/01/27

13,479,244

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

10,410,000

Clear Creek Independent School District, Galveston and Harris

Counties, Texas, General Obligation Bonds, Refunding &

School Building Series 2025

.000

%

02/15/33

$

11,937,943

5,000,000

Clear Creek Independent School District, Galveston and Harris

Counties, Texas, General Obligation Bonds, Refunding &

School Building Series 2025

.000

02/15/34

5,771,840

2,500,000

Collin County, Texas, General Obligation Bonds, Refunding

Limited Tax Permanent Improvement, Tax Notes Series 2025

.000

02/15/30

2,754,987

3,830,000

Collin County, Texas, General Obligation Bonds, Refunding

Limited Tax Permanent Improvement, Tax Notes Series 2025

.000

02/15/31

4,286,170

6,885,000

Cypress-Fairbanks Independent School District, Harris County,

Texas, General Obligation Bonds, Refunding Series 2025

.000

02/15/29

7,466,723

6,430,000

Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds Refunding Series 2023C, (AMT)

.000

11/01/26

6,566,023

6,810,000

Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds Refunding Series 2023C, (AMT)

.000

11/01/27

7,098,470

6,060,000

Dallas, Texas, General Obligation Bonds, Refunding and

Improvement Series 2024B

.000

02/15/27

6,262,159

3,000,000

(b) Denton County, Texas, General Obligation Bonds, Refunding

Permanent Improvement Series 2025

.000

07/15/30

3,337,769

9,980,000

Denton, Texas, Certificates of Obligation, Series 2025

.000

02/15/30

10,997,907

6,725,000

Fort Bend County, Texas, Certificates of Obligation, Series 2025

.000

03/01/30

7,411,390

3,525,000

Fort Bend County, Texas, General Obligation Bonds, Tax Road

Series 2024

.000

03/01/28

3,731,132

2,595,000

Fort Worth, Texas, General Obligation Bonds, General Purpose

Series 2025

.000

03/01/31

2,908,641

1,295,000

Fort Worth, Texas, General Obligation Bonds, Tax Notes Series

2025

.000

03/01/30

1,427,744

3,005,000

Fort Worth, Texas, General Obligation Bonds, Tax Notes Series

2025

.000

03/01/30

3,313,029

3,665,000

Frisco Independent School District, Collin and Denton

Counties, Texas, General Obligation Bonds, Refunding Series

2025A

.000

02/15/30

4,048,407

5,095,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/27

5,269,165

5,450,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/28

5,775,936

5,780,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/29

6,254,689

9,570,000

Grand Prairie Independent School District, Dallas County,

Texas, General Obligation Bonds, Refunding Series 2015

.000

02/15/32

9,576,294

5,185,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Refunding Series 2020C-3,

(Mandatory Put 12/01/26)

.000

06/01/32

5,321,460

10,085,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2019B-3, (Mandatory Put

12/01/26)

.000

07/01/49

10,350,420

3,240,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2022B, (Mandatory Put

12/01/28)

.000

06/01/50

3,432,825

8,310,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2024C, (Mandatory Put

7/01/29)

.000

07/01/54

8,899,932

4,530,000

Harris County Flood Control District, Texas, Contract Tax Bonds,

Refunding Series 2025A

.000

09/15/29

4,964,331

5,680,000

Harris County, Texas, General Obligation Bonds, Refunding

Road Series 2025A

.000

09/15/29

6,229,089

6,570,000

Harris County, Texas, General Obligation Bonds, Refunding

Road Series 2025A

.000

09/15/30

7,345,942

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

2,550,000

Harris County, Texas, Road Revenue Bonds, Refunding, Series

2024A

.000

%

09/15/27

$

2,677,762

2,500,000

Harris County, Texas, Road Revenue Bonds, Refunding, Series

2024A

.000

09/15/28

2,687,064

1,710,000

Harris County, Texas, Toll Road Revenue Bonds, Refunding First

Lien Series 2024A

.000

08/15/26

1,747,188

2,535,000

Harris County, Texas, Toll Road Revenue Bonds, Refunding First

Lien Series 2024A

.000

08/15/27

2,653,431

4,230,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.250

07/15/33

4,536,031

1,000,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.250

07/15/34

1,071,629

3,000,000

Houston, Texas, Combined Utility System Revenue Bonds,

Combined First Lien Series 2024A

.000

11/15/26

3,081,586

2,225,000

Houston, Texas, General Obligation Bonds, Public

Improvement and Refunding Series 2024B

.000

03/01/26

2,246,358

7,080,000

Houston, Texas, General Obligation Bonds, Public

Improvement Refunding Series 2025

.000

03/01/29

7,659,106

6,000,000

Houston, Texas, General Obligation Bonds, Public

Improvement Refunding Series 2025

.000

03/01/30

6,622,956

8,845,000

Houston, Texas, General Obligation Bonds, Refunding Public

Improvement Series 2016A

.000

03/01/27

8,931,530

3,180,000

Irving Independent School District, Dallas County, Texas,

General Obligation Bonds, School Building Series 2023

.000

02/15/36

3,486,486

3,420,000

Irving Independent School District, Dallas County, Texas,

General Obligation Bonds, School Building Series 2023

.000

02/15/37

3,718,338

5,055,000

Irving, Dallas County, Texas, General Obligation Bonds, Series

2024

.000

09/15/28

5,431,744

6,055,000

Irving, Dallas County, Texas, General Obligation Bonds, Series

2024

.000

09/15/29

6,649,942

1,250,000

Leander, Texas, Certificates of Obligation, Combination Tax &

Revenue Series 2025

.000

08/15/29

1,368,425

1,000,000

Leander, Texas, Certificates of Obligation, Combination Tax &

Revenue Series 2025

.000

08/15/30

1,114,855

1,300,000

Lower Colorado River Authority, Texas, Revenue Bonds,

Refunding Series 2023A

.000

05/15/26

1,318,798

7,250,000

Matagorda County Navigation District 1, Texas, Pollution

Control Revenue Bonds, Central Power & Light Company

Project, Refunding Series 1996, (AMT)

.250

05/01/30

7,572,298

2,030,000

(d) Mission Economic Development Corporation, Texas, Revenue

Bonds, Natgasoline Project, Senior Lien Series 2018, (AMT)

.625

10/01/31

2,032,432

750,000

Mission Economic Development Corporation, Texas,

Solid Waste Disposal Revenue Bonds, Graphic Packaging

International, LLC Project, Green Series 2025, (AMT),

(Mandatory Put 6/01/30)

.000

12/01/64

777,291

3,230,000

(c) Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Republic Services Inc.

Project, Adjustable Rate Series 2020A, (AMT), (Mandatory Put

11/03/25)

.850

05/01/50

3,229,618

3,750,000

Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Waste Management Inc.

Project, Series 2023A, (AMT), (Mandatory Put 7/01/27)

.250

06/01/48

3,772,441

5,140,000

North East Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding Series 2025

.000

08/01/30

5,733,563

5,430,000

(b) North Texas Municipal Water District, Texas, Regional

Wastewater Revenue Bonds, Improvement and Refunding

Series 2025

.000

06/01/31

6,096,976

7,375,000

North Texas Municipal Water District, Water System Revenue

Bonds, Refunding & Improvement Series 2025

.000

09/01/29

8,089,990

3,570,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier Series 2023A

.000

01/01/27

3,682,068

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

3,200,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier, Series 2017A

.000

%

01/01/27

$

3,219,206

5,000,000

Pasadena Independent School District, Harris County, Texas,

General Obligation Bonds, School Building Series 2015A

.000

02/15/32

5,003,288

8,685,000

Plano Independent School District, Collin County, Texas,

General Obligation Bonds, School Building Series 2025

.000

02/15/28

9,200,274

7,000,000

Red River Education Finance Corporation, Texas, Higher

Education Revenue Bonds, Texas Christian University Project,

Refunding & Improvement Series 2024

.000

03/15/35

8,078,105

1,750,000

San Antonio, Texas, Combination Tax and Revenue Certificates

of Obligation, Series 2024

.000

02/01/30

1,926,299

1,750,000

San Antonio, Texas, Combination Tax and Revenue Certificates

of Obligation, Taxable Series 2024

.000

02/01/32

1,970,618

2,150,000

(b) San Antonio, Texas, Water System Revenue Bonds, Refunding

Junior Lien Series 2025C

.000

05/15/30

2,384,883

5,000,000

Spring Branch Independent School District, Harris County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/01/28

5,296,596

5,000,000

Spring Branch Independent School District, Harris County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/01/29

5,407,792

8,955,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Scott & White

Healthcare Project, Series 2022E, (Mandatory Put 5/15/26)

.000

11/15/52

9,032,587

7,550,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025B, (Mandatory Put 11/15/29)

.000

11/15/64

8,159,921

2,475,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Series 2019A

.500

07/01/34

2,475,016

4,860,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Series 2024C

.100

01/01/39

4,852,217

3,405,000

Texas Department of Housing and Community Affairs, Single

Family Mortgage Revenue Bonds, Series 2021A

.850

09/01/36

2,672,722

5,000,000

Texas Municipal Gas Acquisition and Supply Corporation IV,

Gas Supply Revenue Bonds, Series 2023A, (Mandatory Put

1/01/30)

.500

01/01/54

5,380,526

15,040,000

Texas Municipal Gas Acquisition and Supply Corporation IV,

Gas Supply Revenue Bonds, Series 2023B, (Mandatory Put

1/01/34)

.500

01/01/54

16,942,560

5,665,000

Texas Municipal Gas Acquisition and Supply Corporation V,

Texas, Gas Supply Revenue Bonds, Series 2024, (Mandatory Put

1/01/34)

.000

01/01/55

6,191,582

4,000,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.000

12/31/33

4,247,985

2,900,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.000

06/30/34

3,075,081

3,025,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

12/31/30

3,141,799

4,005,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/31

4,148,270

5,025,000

Texas State University System, Financing Revenue Bonds,

Refunding Series 2024

.000

03/15/26

5,081,417

3,155,000

Texas State University System, Financing Revenue Bonds,

Refunding Series 2024

.000

03/15/27

3,274,299

7,500,000

Texas State, General Obligation Bonds, Texas Transportation

Commission, Mobility Fund Refunding Series 2024

.000

10/01/31

8,529,244

13,330,000

Texas State, General Obligation Bonds, Transportation

Commission Mobility Fund, Refunding Series 2015A

.000

10/01/32

13,295,129

10,000,000

Texas State, General Obligation Bonds, Transportation

Commission Mobility Fund, Refunding Series 2015B

.000

10/01/36

9,994,650

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

5,315,000

Texas Transportation Commission, Central Texas Turnpike

System Revenue Bonds, Refunding Second Tier Series 2024C

.000

%

08/15/31

$

5,963,392

4,010,000

Texas Transportation Commission, General Obligation Bonds,

Highway Improvement Refunding Series 2024

.000

04/01/26

4,060,638

4,355,000

Texas Transportation Commission, General Obligation Bonds,

Highway Improvement Refunding Series 2024

.000

04/01/28

4,638,959

12,710,000

(b) Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2025

.000

04/15/30

14,095,816

TOTAL TEXAS

505,202,819

UTAH - 0.8%

1,000,000

Alpine School District Local Building Authority, Utah County,

Utah, Lease Revenue Bonds, Series 2025

.000

03/15/30

1,111,349

2,750,000

Intermountain Power Agency, Utah, Power Supply Revenue

Bonds, Series 2022A

.000

07/01/27

2,862,912

1,100,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/26

1,116,906

1,205,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/27

1,249,227

1,100,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/28

1,164,402

1,635,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/29

1,757,893

1,470,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/30

1,603,321

2,000,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2025A, (AMT)

.000

07/01/28

2,117,096

5,160,000

Utah County, Utah, Hospital Revenue Bonds, IHC Health

Services Inc., Series 2020B-2, (Mandatory Put 8/01/26)

.000

05/15/60

5,256,234

3,610,000

Utah Housing Corporation, Single Family Mortgage Bonds,

Series 2024E

.050

07/01/39

3,595,437

700,000

Utah Telecommunication Open Infrastructure Agency, Utah,

Revenue Bonds, Refunding Sales Tax and Telecommunication

Series 2022

.000

06/01/26

709,719

1,515,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Series 2024

.000

06/15/30

1,695,078

1,125,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Series 2024

.000

06/15/31

1,279,592

1,375,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Series 2024

.000

06/15/32

1,583,325

6,595,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Series 2025

.000

12/15/28

7,142,961

3,190,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Subordinate Series 2024

.000

06/15/30

3,561,628

TOTAL UTAH

37,807,080

VERMONT - 0.1%

1,155,000

Vermont Housing Finance Agency, Multiple Purpose Bonds,

Series 2021A

.200

11/01/36

925,774

2,875,000

Vermont Housing Finance Agency, Multiple Purpose Bonds,

Social Series 2024C

.125

11/01/39

2,844,887

TOTAL VERMONT

3,770,661

VIRGINIA - 0.8%

2,700,000

Alexandria Redevelopment and Housing Authority, Virginia,

Multifamily Housing Revenue Bonds, 431 S Columbus St Block

4, Series 2024A, (Mandatory Put 12/01/25)

.400

12/01/54

2,701,246

4,525,000

Charles City County Industrial Development Authority,

Virginia, Solid Waste Disposal Facility Revenue Bonds, Waste

Management, Inc., Series 2002, (AMT)

.450

04/01/27

4,378,238

2,000,000

Hampton Roads Sanitation District, Virginia, Wastewater

Revenue Bonds, Subordinate Series 2025A

.000

07/15/26

2,035,764

5,270,000

Hampton Roads Transportation Accountability Commission,

Virginia, Revenue Bonds, Hampton Roads Transportation Fund,

Intermediate Lien Bond Anticipation Notes Series 2023A

.000

07/01/27

5,504,837

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VIRGINIA

(continued)

$

7,530,000

Loudoun County, Virginia, General Obligation Bonds, Public

Improvement Series 2019A

.000

%

12/01/26

$

7,759,823

5,350,000

Loudoun County, Virginia, General Obligation Bonds, Public

Improvement Series 2023A

.000

12/01/35

6,029,277

1,800,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-3

.000

10/01/39

1,783,883

2,720,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-4

.100

07/01/40

2,723,552

1,300,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2024H

.625

06/01/29

1,304,346

2,000,000

Virginia Small Business Financing Authority, Revenue Bonds,

Elizabeth River Crossing OPCO, LLC Project, Refunding Senior

Lien Series 2022, (AMT)

.000

01/01/36

1,988,727

1,715,000

Wise County Industrial Development Authority, Virginia, Solid

Waste and Sewage Disposal Revenue Bonds, Virginia Electric

and Power Company, Series 2009A, (Mandatory Put 10/01/30)

.125

10/01/40

1,727,656

TOTAL VIRGINIA

37,937,349

WASHINGTON - 1.3%

2,530,000

(b) King and Snohomish Counties School District 417 Northshore,

Washington, General Obligation Bonds, Refunding Series 2025

.000

12/01/30

2,837,104

4,905,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2025B, (AMT)

.000

10/01/29

5,302,475

3,770,000

Port of Seattle, Washington, Revenue Bonds, Refunding First

Lien Series 2016B, (AMT)

.000

10/01/28

3,803,643

6,500,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Series 2024B, (AMT)

.000

07/01/27

6,745,349

3,750,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Series 2024B, (AMT)

.000

07/01/28

3,972,622

4,275,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Series 2024B, (AMT)

.000

07/01/31

4,727,549

1,625,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/25

1,625,000

2,910,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/26

2,959,522

3,055,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/27

3,181,294

2,380,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/28

2,525,168

3,755,000

Washington State Housing Finance Commission, Single Family

Program Bonds, Series 2021-1N

.000

12/01/36

2,988,832

1,500,000

Washington State Housing Finance Commission, Single Family

Program Bonds, Series 2021-2N

.250

12/01/36

1,207,843

3,622,001

Washington State Housing Finance Commission, Social

Municipal Certificates Multifamily Revenue Bonds, Series 2021-

1 Class A

.500

12/20/35

3,491,937

2,700,000

Washington State, General Obligation Bonds, Refunding Motor

Vehicle Fuel Tax Series R-2025E

.000

08/01/32

3,096,982

160,000

Washington State, General Obligation Bonds, Refunding Motor

Vehicle Fuel Tax, Series R-2020D

.000

07/01/26

162,939

5,040,000

Washington State, General Obligation Bonds, Various Purpose

Refunding Series 2025B

.000

07/01/29

5,516,513

8,225,000

Washington State, General Obligation Bonds, Various Purpose

Series 2026A

.000

08/01/31

9,338,354

TOTAL WASHINGTON

63,483,126

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WEST VIRGINIA - 0.6%

$

2,500,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Refunidng Series 2015A, (Mandatory

Put 6/15/28)

.375

%

03/01/40

$

2,541,941

2,605,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Series 2009B, (Mandatory Put

6/01/28)

.700

12/01/42

2,669,201

7,095,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Series 2010, (Mandatory Put

12/15/25)

.625

12/01/38

7,058,354

1,000,000

(d) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35)

.450

01/01/55

1,043,614

9,500,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Wheeling Power Company

- Mitchell Project, Refunding Series 2013A, (AMT), (Mandatory

Put 6/18/27)

.000

06/01/37

9,412,594

2,120,000

West Virginia Hospital Finance Authority, Hospital Revenue

Bonds, Charleston Area Medical Center, Series 2014A

.000

09/01/27

2,123,010

1,015,000

West Virginia Hospital Finance Authority, Hospital Revenue

Bonds, Charleston Area Medical Center, Series 2014A

.000

09/01/28

1,016,402

2,405,000

West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System System Obligated Group,

Improvement Series 2025B, (Mandatory Put 6/01/33)

.000

06/01/55

2,627,612

TOTAL WEST VIRGINIA

28,492,728

WISCONSIN - 2.7%

1,385,000

Dodge County, Wisconsin, General Obligation Bonds,

Refunding Series 2022A

.000

03/01/26

1,385,703

2,460,000

Madison Metropolitan School District, Dane County, Wisconsin,

General Obligation Bonds, School Building & Facility

Improvement Series 2023

.000

03/01/36

2,510,093

6,435,000

Madison, Wisconsin, General Obligation Bonds, Promissory

Notes Series 2023A

.000

10/01/26

6,602,147

9,750,000

Madison, Wisconsin, Industrial Development Revenue

Refunding Bonds, Madison Gas and Electric Company Projects,

Series 2020A

.750

10/01/27

9,913,977

3,665,000

Milwaukee Area Technical College District, Wisconsin, General

Obligation Promissory Notes, Series 2023-24C

.000

06/01/26

3,726,635

8,545,000

Public Finance Authority of Wisconsin, Pollution Control

Revenue Bonds, Duke Energy Progress Project, Refunding

Series 2022A-2, (Mandatory Put 10/01/26)

.300

10/01/46

8,569,522

12,505,000

Public Finance Authority of Wisconsin, Solid Waste Disposal

Revenue Bonds, Waste Management Inc., Refunding Series

2016A-3, (Mandatory Put 6/01/26)

.100

07/01/29

12,279,401

4,000,000

Public Finance Authority of Wisconsin, Solid Waste Disposal

Revenue Bonds, Waste Management Inc., Refunding Series

2016A-4, (Mandatory Put 6/01/26)

.100

04/01/33

3,927,096

2,250,000

Public Finance Authority, Wisconsin, Exempt Facilities Revenue

Bonds, Celanese Project, Refunding Series 2016C

.050

11/01/30

2,251,643

5,000,000

Public Finance Authority, Wisconsin, Exempt Facilities Revenue

Bonds, Celanese Project, Refunding Series 2016C

.300

11/01/30

5,006,489

7,080,000

University of Wisconsin Hospitals and Clinics Authority,

Revenue Bonds, Sustainability Series 2002B, (Mandatory Put

10/01/31)

.000

04/01/54

7,839,832

3,830,000

Waushara County, Wisconsin Note Anticipation Notes, Series

2022A

.500

06/01/27

3,834,345

4,015,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Advocate Aurora Health Credit

Group, Series 2018C-1, (Mandatory Put 7/29/26)

.000

08/15/54

4,087,932

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

5,000,000

(a) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Marshfield Clinic Health System,

Inc., Series 2020B-2, (Pre-refunded 8/15/26), (Mandatory Put

2/15/27)

.000

%

02/15/51

$

5,103,139

1,770,000

Wisconsin Housing and Ecconomic Development Authority,

Home Ownership Revenue Bonds, Series 2019C

.200

03/01/31

1,652,815

1,785,000

Wisconsin Housing and Ecconomic Development Authority,

Home Ownership Revenue Bonds, Series 2019C

.200

09/01/31

1,650,306

5,075,000

Wisconsin Housing and Ecconomic Development Authority,

Home Ownership Revenue Bonds, Series 2019C

.500

09/01/34

4,483,070

2,360,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2023B, (Mandatory Put

11/01/26)

.750

05/01/54

2,361,045

1,740,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2023E, (Mandatory Put

5/01/27)

.875

11/01/54

1,741,366

6,000,000

Wisconsin State, General Obligation Bonds, Refunding

Forward Delivery Series 2025-2

.000

05/01/27

6,244,707

2,205,000

Wisconsin State, General Obligation Bonds, Refunding Series

2024-2

.000

05/01/27

2,294,930

9,250,000

Wisconsin State, General Obligation Bonds, Refunding Series

2024-2

.000

05/01/28

9,879,567

10,000,000

Wisconsin State, General Obligation Bonds, Refunding Series

2025-3

.000

05/01/30

11,170,022

6,580,000

Wisconsin State, General Obligation Bonds, Series 2025B

.000

05/01/32

7,575,602

TOTAL WISCONSIN

126,091,384

WYOMING - 0.6%

20,555,000

Sweetwater County, Wyoming, Pollution Control Revenue

Refunding Bonds, Idaho Power Company Project, Series 2006

.700

07/15/26

20,247,896

2,510,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2019 Series 3

.450

12/01/34

2,197,432

1,310,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2020 Series 1

.625

12/01/35

1,174,594

2,575,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2020 Series 2

.100

12/01/35

2,126,926

5,375,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2021 Series 3

.000

12/01/36

4,278,288

TOTAL WYOMING

30,025,136

TOTAL MUNICIPAL BONDS

(Cost $4,666,010,231)

4,598,356,078

TOTAL LONG-TERM INVESTMENTS

(Cost $4,666,010,231)

4,598,356,078

BORROWINGS - (0.1)% (g)

(5,752,672)

OTHER ASSETS & LIABILITIES, NET - 2.9%

139,114,131

NET ASSETS - 100%

$

4,731,717,537

AMT

Alternative Minimum Tax

ETM

Escrowed to maturity

PIK

Payment-in-kind ("PIK") security. Depending on the terms of the security, income may be received in the form of cash, securities, or

a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the

issuer as of the end of the reporting period.

(a) 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.

(b) When-issued or delayed delivery security.

(c) Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of

the security. Coupon rate reflects the rate at period end.

(d) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the reporting period, the aggregate value of these securities is $75,763,110 or 1.6% of Total Investments.

(e) 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.

(f) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of

bankruptcy.

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

(g) Borrowings as a percentage of Total Investments is 0.1%.

#### Portfolio of Investments September 30, 2025

#### Short Term
See Notes To Financial Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 100.1%

446647670

MUNICIPAL BONDS - 100.1%

446647670

ALABAMA - 4.9%

$

4,225,000

(a) Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Project 4 Series 2019A-1, (Pre-refunded 12/01/25),

(Mandatory Put 12/01/25)

.000

%

12/01/49

$

4,239,256

2,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Prepay BP PLC, Series 2024D

.000

11/01/27

2,069,938

500,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025A

.000

05/01/27

505,748

300,000

(b) Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025D

.000

08/01/27

311,103

1,000,000

(b) Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025D

.000

08/01/28

1,053,840

1,000,000

Black Belt Energy Gas District, Alabama, Gas Supply Revenue

Bonds, Series 2023 Sub B-1

.000

06/01/27

1,030,901

1,600,000

Energy Southeast Cooperative District, Alabama, Energy

Supply Revenue Bonds, Fixed Rate Series 2023B-1

.500

11/01/27

1,673,912

1,000,000

Jefferson County, Alabama, Sewer Revenue Warrants, Series

2024

.000

10/01/27

1,046,903

2,985,000

Lower Alabama Gas District, Alabama, Goldman Sachs Gas

Project 2 Revenue Bonds, Series 2020A, (Mandatory Put

12/01/25)

.000

12/01/50

2,991,163

630,000

Mobile Industrial Development Board, Alabama, Pollution

Control Revenue Refunding Bonds, Alabama Power Company

Barry Plan, Series 2007A, (Mandatory Put 6/26/29)

.375

06/01/34

639,831

1,500,000

Southeast Alabama Gas Supply District, Alabama, Gas Supply

Revenue Bonds, Project 1, Refunding Series 2024A

.000

04/01/28

1,572,066

1,500,000

Southeast Energy Authority, Alabama, A Cooperative District

Energy Supply Revenue Bonds Series 2024A

.000

11/01/27

1,540,253

1,270,000

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 3, Fixed Rate Series 2022A-1

.000

12/01/26

1,294,891

300,000

Southeast Energy Authority, Alabama, Revenue Bonds, A

Cooperative District Energy Supply Series 2025D

.000

09/01/28

314,290

1,580,000

Southeast Energy Authority, Alabama, Revenue Bonds,

Cooperative District Energy Supply Series 2025B

.000

01/01/28

1,631,117

TOTAL ALABAMA

21,915,212

ALASKA - 2.0%

815,000

Alaska Housing Finance Corporation, Collateralized Mortgage

Bonds, Veterans Mortgage Program, 2024 First Series

.250

12/01/27

822,818

1,000,000

Alaska Housing Finance Corporation, General Obligation

Bonds, State Capital Project II, Series 2024A

.000

12/01/27

1,053,469

5,000,000

Alaska Housing Finance Corporation, General Obligation

Bonds, State Capital Project II, Series 2025A

.000

12/01/27

5,254,348

500,000

Alaska Municipal Bond Bank, General Obligation Bonds,

Refunding Three Series 2025

.000

10/01/29

549,653

1,015,000

Alaska State, General Obligation Bonds, Refunding Series

2024B

.000

08/01/27

1,062,682

TOTAL ALASKA

8,742,970

ARIZONA - 3.7%

650,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2007, (AMT), (Mandatory Put 6/15/28)

.100

12/01/37

654,185

530,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2019, (AMT), (Mandatory Put 6/01/29)

.000

06/01/49

541,255

2,420,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2022-2, (AMT), (Mandatory Put 9/01/27)

.000

09/01/52

2,461,461

1,000,000

Coconino County, Arizona, Pollution Control Revenue Bonds,

Nevada Power Company Project, Refunding Series 2017B,

(Mandatory Put 3/31/26)

.750

03/01/39

1,002,525

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

640,000

Kyrene Elementary School District 28, Maricopa County,

Arizona, School Improvement Bonds, Project 2017, Series

2023D

.000

%

07/01/26

$

651,899

510,000

Kyrene Elementary School District 28, Maricopa County,

Arizona, School Improvement Bonds, Project 2017, Series

2023D

.000

07/01/27

533,174

370,000

Kyrene Elementary School District 28, Maricopa County,

Arizona, School Improvement Bonds, Project 2017, Series

2023D

.000

07/01/28

396,334

7,550,000

Maricopa County Industrial Development Authority, Arizona,

Revenue Bonds, Banner Health, Series 2019D, (Mandatory Put

5/15/26)

.000

01/01/46

7,654,946

1,165,000

Maricopa County Union High School District 210 Phoenix,

Arizona, General Obligation Bonds, School Improvement &

Project of 2023 Series 2025B

.000

07/01/28

1,249,206

385,000

Pinal County, Arizona, Pledged Revenue Obligations,

Refunding Series 2025 - BAM Insured

.000

08/01/28

412,108

1,000,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/29

1,095,677

TOTAL ARIZONA

16,652,770

CALIFORNIA - 2.7%

1,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023E-1

.000

09/01/27

1,037,782

1,750,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024B

.000

12/01/27

1,810,916

150,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025C

.000

10/01/28

157,693

500,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025D

.000

07/01/30

530,975

1,000,000

(c),(d)

California Pollution Control Financing Authority, (AMT),

(Mandatory Put 10/15/25)

.850

11/01/42

999,949

260,000

(c),(d)

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Republic Services Inc., Refunding

Series 2023, (AMT), (Mandatory Put 2/17/26)

.800

07/01/43

259,821

2,000,000

California State, General Obligation Bonds, Various Purpose

Refunding Series 2025

.000

08/01/28

2,148,075

2,000,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding

Subordinate Green Series 2025A, (AMT)

.000

05/15/29

2,152,706

1,000,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Senior Series 2025B, (AMT)

.000

07/01/29

1,078,859

2,000,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Subordinate Series 2021B, (AMT)

.000

07/01/26

2,034,032

TOTAL CALIFORNIA

12,210,808

COLORADO - 6.6%

655,000

(d) Broadway Park North Metropolitan District 2, Denver,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2020

.375

12/01/26

644,294

100,000

Colorado Educational and Cultural Facilities Authority, Revenue

Bonds, Aspen View Academy Project, Series 2021

.000

05/01/26

99,942

630,000

(a) Colorado Health Facilities Authority, Colorado, Revenue Bonds,

AdventHealth Obligated Group, Series 2019B, (Pre-refunded

11/19/26)

.000

11/15/49

646,414

1,785,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Adventist Health, Sunbelt Obligated Group, Series 2016C,

(Mandatory Put 11/15/26)

.000

11/15/36

1,827,547

500,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2019A-2

.000

08/01/26

508,484

2,265,000

Colorado Health Facilities Authority, Colorado, Revenue

Bonds, CommonSpirit Health, Series 2019B-2, (Mandatory Put

8/01/26)

.000

08/01/49

2,276,751

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

12,320,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Intermountain Healthcare, Series 2022A, (Mandatory Put

8/17/26)

.000

%

05/15/62

$

12,546,539

2,300,000

Colorado Housing and Finance Authority, Multi Family Project

Bonds, Class I Series 2025C-2

.350

07/01/28

2,333,653

2,000,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022D, (AMT)

.000

11/15/25

2,005,110

3,500,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022D, (AMT)

.250

11/15/26

3,598,117

2,055,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2018A, (AMT)

.000

12/01/27

2,149,789

290,000

Gold Hill Mesa Metropolitan District 2, Colorado Springs, El

Paso County, Colorado, Limited Tax General Obligation and

Special Revenue Bonds, Refunding & Improvement Series

2022A - BAM Insured

.000

12/01/26

297,329

100,000

Prairiestar Metropolitan District 2, Larimer County, Colorado,

Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2021A - BAM Insured

.000

12/01/25

100,343

510,000

Ravenna Metropolitan District, Douglas County, Colorado,

General Obligation Bonds, Refunding Limited Tax Series 2023

- AGM Insured

.000

12/01/27

531,119

TOTAL COLORADO

29,565,431

CONNECTICUT - 2.4%

630,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2025A-1

.200

05/15/28

637,722

650,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2025A-1

.200

11/15/28

661,125

550,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2025B-2, (Mandatory Put

5/15/28)

.300

05/15/60

554,010

2,000,000

(b) Connecticut State, General Obligation Bonds, Refunding Series

2025D

.000

08/15/29

2,188,421

1,000,000

Connecticut State, General Obligation Bonds, Series 2025A

.000

03/15/28

1,061,606

1,000,000

Connecticut State, General Obligation Bonds, Series 2025A

.000

03/15/29

1,085,449

1,180,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Refunding Forward

Delivery Series 2021C

.000

01/01/27

1,217,634

3,340,000

University of Connecticut, General Obligation Bonds,

Refunding Series 2023A

.000

08/15/27

3,501,682

TOTAL CONNECTICUT

10,907,649

DELAWARE - 0.3%

225,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025A

.250

07/01/27

226,700

205,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025A

.300

01/01/28

207,259

590,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025A

.350

07/01/28

598,007

430,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025A

.400

01/01/29

437,736

TOTAL DELAWARE

1,469,702

DISTRICT OF COLUMBIA - 2.0%

6,005,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2017, (AMT)

.000

10/01/26

6,129,218

1,700,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2022A, (AMT)

.000

10/01/25

1,700,000

1,000,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2023A, (AMT)

.000

10/01/25

1,000,000

TOTAL DISTRICT OF COLUMBIA

8,829,218

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA - 3.9%

$

1,735,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Series

2025B, (AMT), (Mandatory Put 6/15/26)

.000

%

07/01/57

$

1,478,175

720,000

(b) Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2025-5

.650

01/01/28

716,561

350,000

(b) Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2025-5

.700

07/01/28

346,974

815,000

(b) Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2025-5

.750

01/01/29

809,570

5,090,000

Florida Municipal Power Agency, Power Supply Revenue

Bonds, All Requirements Project, Series 2025A

.000

10/01/29

5,577,124

1,035,000

Greater Orlando Aviation Authority, Florida, Airport Facilities

Revenue Bonds, Series 2019A, (AMT)

.000

10/01/25

1,035,000

2,600,000

Miami-Dade County, Florida, Seaport Revenue Bonds,

Refunding Series 2022A, (AMT)

.000

10/01/26

2,652,750

2,545,000

Orange County Health Facilities Authority, Florida, Hospital

Revenue Bonds, Advent Health Obligated Group, Series

2021C, (Mandatory Put 11/15/26)

.000

11/15/52

2,605,662

1,000,000

Palm Beach County School Board, Florida, Certificates of

Participation, Series 2025A

.000

08/01/30

1,114,031

350,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/28

375,415

365,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/29

400,515

150,000

Seminole County, Florida, Water and Sewer Revenue Bonds,

Refunding Series 2025A

.000

10/01/29

164,655

TOTAL FLORIDA

17,276,432

GEORGIA - 3.1%

1,605,000

Atlanta, Georgia, Airport General Revenue Bonds, Green Series

2025B-1, (AMT)

.000

07/01/28

1,702,034

1,235,000

(b) Douglas County School District, Georgia, General Obligation

Bonds, Series 2025

.000

04/01/29

1,342,463

4,420,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2021A, (Mandatory Put 9/01/27)

.000

07/01/52

4,513,763

1,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023A

.000

06/01/26

1,011,428

1,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023A

.000

06/01/27

1,028,435

1,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023D

.000

12/01/26

1,020,869

250,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2025A

.000

12/01/26

255,564

500,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2025A

.000

12/01/27

520,598

1,660,000

Richmond County Board of Education, Georgia, General

Obligation Bonds, Sales Tax Series 2025

.000

10/01/28

1,786,522

805,000

Wayne County School District, Georgia, General Obligation

Sales Tax Bonds, Series 2023

.250

09/01/27

848,229

TOTAL GEORGIA

14,029,905

GUAM - 0.1%

500,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.000

01/01/29

529,039

TOTAL GUAM

529,039

HAWAII - 0.8%

2,080,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaii Pacific Health Obligated Group, Series

2023C

.000

07/01/28

2,210,870

25,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Series 2017A, (AMT)

.100

05/01/26

24,774

1,000,000

Maui County, Hawaii, General Obligation Bonds, Series 2025

.000

09/01/29

1,098,520

TOTAL HAWAII

3,334,164

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

IDAHO - 0.4%

$

270,000

Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, PAC Series 2025C

.125

%

07/01/28

$

271,285

725,000

Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, PAC Series 2025C

.200

01/01/29

729,529

590,000

Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, PAC Series 2025C

.300

07/01/29

594,749

TOTAL IDAHO

1,595,563

ILLINOIS - 5.8%

425,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2019A

.000

12/01/25

422,363

4,000,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Refunding Senior Lien Series 2024C

.000

01/01/27

4,108,084

1,000,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Second Lien Series 2016A

.000

01/01/26

1,005,080

3,000,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023C

.000

01/01/27

3,071,745

545,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2024A

.000

01/01/26

547,769

1,165,000

Cook County School District 78 Rosemont, Illinois, General

Obligation Bonds, Series 2020 - AGM Insured

.000

12/01/26

1,192,818

825,000

Cook County, Illinois, General Obligation Bonds, Refunding

Series 2021A

.000

11/15/25

827,262

1,000,000

Illinois Development Finance Authority, Solid Waste Disposal

Revenue Bonds, Waste Management Inc. Project, Series 2019,

(Mandatory Put 11/03/25)

.250

11/01/44

1,000,224

400,000

Illinois Finance Authority, Health Services Facility Lease

Revenue Bonds, Provident Group - UIC Surgery Center, LLC -

University of Illinois Health Services Facility Project, Series 2020

.000

10/01/25

400,000

565,000

Illinois State, General Obligation Bonds, November Series

2017C

.000

11/01/29

590,574

200,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/25

200,384

200,000

Illinois State, General Obligation Bonds, November Series

2017D

.250

11/01/26

200,934

1,980,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/26

2,028,946

870,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/27

910,138

940,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/28

982,528

1,005,000

Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding

Junior Obligation March Series 2025A

.000

06/15/28

1,063,320

1,055,000

Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding

Junior Obligation March Series 2025A

.000

06/15/29

1,137,172

2,280,000

Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding

Junior Obligation September Series 2021C

.000

06/15/27

2,363,554

500,000

University of Illinois, Health Services Facilities System Revenue

Bonds, Refunding Series 2023

.000

10/01/27

520,868

525,000

University of Illinois, Health Services Facilities System Revenue

Bonds, Refunding Series 2023

.000

10/01/28

556,402

1,010,000

(a) Will County Community Unit School District 201-U

Crete-Monee, Illinois, General Obligation Bonds, Capital

Appreciation Series 2005 - NPFG Insured, (ETM)

.000

11/01/25

1,007,347

1,085,000

Will County School District 86, Joliet, Illinois, General

Obligation Bonds, School Series 2023 - BAM Insured

.000

03/01/26

1,094,871

700,000

Will County School District 86, Joliet, Illinois, General

Obligation Bonds, School Series 2023 - BAM Insured

.000

03/01/28

736,386

TOTAL ILLINOIS

25,968,769

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

INDIANA - 1.6%

$

500,000

Avon Community School Building Corporation, Hendricks

County, Indiana, First Mortgage Bonds, Ad Valorem Property

Tax Series 2023

.000

%

07/15/26

$

509,178

510,000

Avon Community School Building Corporation, Hendricks

County, Indiana, First Mortgage Bonds, Ad Valorem Property

Tax Series 2023

.000

07/15/27

530,976

505,000

Avon Community School Building Corporation, Hendricks

County, Indiana, First Mortgage Bonds, Ad Valorem Property

Tax Series 2023

.000

01/15/28

531,973

1,430,000

Crown Point Multi-School Building Corporation, Indiana, First

Mortgage Bonds, Crown Point Community School Corporation,

Series 2021

.000

01/15/26

1,439,447

500,000

Indiana Finance Authority, Environmental Facilities Revenue

Bonds, Indianapolis Power & Light Company Project, Refunding

Series 2020A, (AMT), (Mandatory Put 4/01/26)

.950

12/01/38

493,435

1,000,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

University Health Series 2025D-1, (Mandatory Put 10/01/29)

.000

10/01/64

1,078,968

700,000

Indiana Finance Authority, Hospital Revenue Bonds, Marion

General Hospital Project, Series 2021A

.000

07/01/26

709,504

405,000

Mount Vernon of Hancock County Multi-School Building

Corporation, Indiana, First Mortgage Bonds, Series 2022

.000

01/15/27

416,872

1,000,000

Mount Vernon, Indiana, Environmental Improvement Revenue

Bonds, Southern Indiana Gas and Electric Company Project,

Series 2015, (AMT), (Mandatory Put 9/01/28)

.250

09/01/55

1,017,727

500,000

Rockport, Indiana, Pollution Control Revenue Refunding Bonds,

Indiana Michigan Power Company Project, Series 2025A,

(Mandatory Put 6/01/29)

.700

06/01/47

513,486

TOTAL INDIANA

7,241,566

KANSAS - 1.1%

1,295,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/28

1,390,664

545,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/29

598,265

650,000

Manhattan, Kansas, General Obligation Bonds, Temporary

Notes, Series 2024-02 - BAM Insured

.000

06/15/28

658,584

1,000,000

Olathe, Kansas, General Obligation Bonds, Temporary Notes

Series 2025A

.000

09/01/26

1,020,479

1,060,000

Wyandotte County-Kansas City Unified Government, Kansas,

Utility System Revenue Bonds, Improvement Series 2016A

.000

09/01/26

1,062,172

TOTAL KANSAS

4,730,164

KENTUCKY - 2.1%

775,000

Kentucky Asset/Liability Commission, General Fund Revenue

Project Notes, Federal Highway Trust Fund, First Refunding

Series 2024A

.000

09/01/26

791,353

560,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 128, Series 2023A

.000

11/01/27

589,532

1,115,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 130, Series 2024B

.000

11/01/25

1,116,994

455,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 132, Refunding Series 2025B

.000

04/01/30

503,464

200,000

Owen County, Kentucky, Waterworks System Revenue Bonds,

Kentucky-American Water Company Project, Refunding Series

2019A, (Mandatory Put 10/01/29)

.450

06/01/39

194,539

1,000,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2024B

.000

08/01/28

1,046,881

360,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2024B, (Mandatory Put 8/01/32)

.000

01/01/55

390,271

3,500,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2019C-1, (Mandatory Put 2/01/28)

.000

02/01/50

3,579,832

140,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2020A, (Mandatory Put 6/01/26)

.000

12/01/50

141,061

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

KENTUCKY

(continued)

$

1,000,000

Trimble County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project Series 2023A,

(AMT), (Mandatory Put 6/01/27)

.700

%

06/01/54

$

1,010,868

TOTAL KENTUCKY

9,364,795

LOUISIANA - 2.1%

3,250,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Insurance

Assessment Revenue Bonds, Louisiana Insurance Guaranty

Association Project, Series 2022B

.000

08/15/26

3,315,008

3,000,000

Louisiana State, Gasoline and Fuels Tax Revenue Bonds,

Refunding Series 2025B

.000

05/01/29

3,260,978

1,490,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017A-1,

(Mandatory Put 7/01/26)

.050

06/01/37

1,503,098

1,370,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017C,

(Mandatory Put 7/03/28)

.300

06/01/37

1,387,926

TOTAL LOUISIANA

9,467,010

MARYLAND - 0.2%

1,000,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Series 2024

.000

02/01/27

1,034,904

TOTAL MARYLAND

1,034,904

MASSACHUSETTS - 2.5%

385,000

Boston, Massachusetts, General Obligation Bonds, Series

2025A

.000

02/01/29

421,186

1,950,000

Massachusetts Educational Financing Authority, Education

Loan Revenue Bonds, Issue M, Senior Series 2021B, (AMT)

.000

07/01/27

2,007,068

540,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2023A-3

.050

12/01/27

542,373

750,000

Massachusetts Housing Finance Agency, Multifamily Housing

Bonds, Green Sustainability Series 2024B3

.400

12/01/27

753,539

5,000,000

Massachusetts Port Authority, Revenue Bonds, Series 2019A,

(AMT)

.000

07/01/26

5,073,109

2,000,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/29

2,172,369

TOTAL MASSACHUSETTS

10,969,644

MICHIGAN - 2.2%

635,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2024A

.700

04/01/30

636,269

850,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2025A-1

.875

04/01/28

849,060

1,920,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2025A

.350

12/01/28

1,946,191

3,110,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2025I

.000

04/15/29

3,382,915

3,065,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Consumers Energy Company Project, Series 2019, (AMT),

(Mandatory Put 10/01/27)

.350

10/01/49

3,049,253

TOTAL MICHIGAN

9,863,688

MINNESOTA - 3.4%

690,000

Becker Independent School District 726, Minnesota, General

Obligation Bonds, School Building Series 2022A

.000

02/01/26

682,971

1,130,000

Eastern Carver County Independent School District 112,

Minnesota, General Obligation Bonds, Facilities Maintenance

Series 2025A

.000

02/01/28

1,197,295

900,000

Forest Lake, Minnesota, Charter School Lease Revenue Bonds,

Lakes International Language Academy, Series 2019A

.375

08/01/29

912,125

420,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Yinghua Academy Project, Series 2013A

.000

07/01/33

420,451

1,060,000

Minneapolis, Minnesota, Health Care System Revenue Bonds,

Allina Health System, Series 2023A, (Mandatory Put 11/15/28)

.000

11/15/52

1,119,985

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA

(continued)

$

1,315,000

Minneapolis-Saint Paul Housing and Redevelopment Authority,

Minnesota, Health Care System Revenue Bonds, Allina Health

System, Refunding Series 2017A

.000

%

11/15/25

$

1,318,196

1,000,000

Minneapolis-St. Paul Metropolitan Airports Commission,

Minnesota, Airport Revenue Bonds, Refunding Senior Lien

Series 2016A

.000

01/01/26

1,006,117

2,015,000

Minneapolis-St. Paul Metropolitan Airports Commission,

Minnesota, Airport Revenue Bonds, Refunding Subordinate

Lien Series 2019B, (AMT)

.000

01/01/26

2,025,644

275,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Social Series 2025F

.700

07/01/28

279,726

285,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Social Series 2025F

.800

01/01/29

290,795

265,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Social Series 2025F

.850

07/01/29

271,312

750,000

Moorhead, Minnesota, General Obligation Bonds,

Improvement Series 2022A

.000

02/01/26

756,052

250,000

Mountain Lake, Minnesota, General Obligation Bonds, Series

2021A

.000

12/15/25

249,340

425,000

New London Economic Development Authority, Minnesota,

Lease Revenue Bonds, SWWC Service Cooperative Lease With

Option to Purchase Project, Public Series 2023

.000

02/01/26

426,780

500,000

Northern Municipal Power Agency, Minnesota, Electric System

Revenue Bonds, Refunding Series 2016

.000

01/01/26

502,654

2,030,000

Saint Cloud, Minnesota, Health Care Revenue Bonds,

CentraCare Health System, Series 2016A

.000

05/01/27

2,056,686

95,000

Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Nova Classical

Academy, Refunding Series 2021A

.000

09/01/26

93,119

175,000

Saint Paul Housing and Redevelopment Authority, Minnesota,

Health Care Revenue Bonds, Fairview Health Services, Series

2017A

.000

11/15/27

181,739

300,000

Shakopee Independent School District 720, Scott County,

Minnesota, Certificates of Participation, Series 2021B

.000

02/01/26

300,823

1,225,000

Southern Minnesota Municipal Power Agency, Power Supply

System Revenue Bonds, Series 1994A - NPFG Insured

.000

01/01/26

1,214,655

TOTAL MINNESOTA

15,306,465

MISSISSIPPI - 0.6%

1,075,000

Mississippi Development Bank, Special Obligation Bonds,

Mississippi Highway Refunding Project, Refunding Series

2024A

.000

01/01/28

1,134,132

1,410,000

Mississippi Development Bank, Special Obligation Bonds,

Municipal Energy Agency of Mississippi, Power Supply Project,

Refunding Series 2015A - AGM Insured

.000

03/01/28

1,421,469

265,000

Warren County, Mississippi, Gulf Opportunity Zone Revenue

Bonds, International Paper Company Project, Refunding Series

20218

.000

09/01/32

272,354

TOTAL MISSISSIPPI

2,827,955

MISSOURI - 2.3%

1,000,000

Kansas City Planned Industrial Expansion Authority, Missouri,

Multifamily Housing Revenue Bonds, The Depot on Old Santa

Fe Series 2023, (Mandatory Put 7/01/27)

.000

07/01/45

1,025,145

160,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Refunding Series 1998A

.900

09/01/33

148,235

1,000,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998B

.900

09/01/33

926,471

2,595,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Series 2021B,

(Mandatory Put 5/01/26)

.000

05/01/51

2,613,949

250,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Lake Regional Health System, Series 2021

.000

02/15/26

250,905

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MISSOURI

(continued)

$

285,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024E

.200

%

11/01/26

$

285,634

525,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024E

.250

05/01/27

528,389

300,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024E

.300

11/01/27

302,955

500,000

Missouri Joint Municipal Electric Utility Commission, Power

Supply System Revenue Bonds, Gree Bonds, MoPEP Facilities,

Series 2022

.000

12/01/26

513,975

630,000

Saint Louis County Industrial Development Authority, Missouri,

Health Facilities Revenue Bonds, Ranken-Jordan Project,

Refunding & Improvement Series 2016

.000

11/15/26

630,619

1,170,000

Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis

International Airport, Refunding Series 2022, (AMT)

.000

07/01/26

1,187,544

1,630,000

Springfield, Missouri, Special Obligation Bonds, Refunding

Series 2017B, (AMT)

.000

07/01/26

1,655,661

TOTAL MISSOURI

10,069,482

MONTANA - 0.2%

365,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2025A

.200

06/01/29

371,200

370,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2025A

.250

12/01/29

377,283

TOTAL MONTANA

748,483

NEBRASKA - 0.9%

175,000

Douglas County Hospital Authority 2, Nebraska, Health

Facilities Revenue Bonds, Children's Hospital Obligated Group,

Refunding Series 2020A

.000

11/15/25

175,395

2,710,000

Metropolitan Utilities District of Omaha, Nebraska, Gas System

Revenue Bonds, Series 2023

.000

12/01/26

2,790,809

1,255,000

Sarpy County School District 037 Gretna Public Schools,

Nebraska, General Obligation Bonds, Series 2022B

.000

12/15/27

1,259,788

TOTAL NEBRASKA

4,225,992

NEVADA - 0.3%

1,360,000

Clark County School District, Nevada, General Obligation

Bonds, Limited Tax Building Series 2018B - AGM Insured

.000

06/15/27

1,420,396

TOTAL NEVADA

1,420,396

NEW HAMPSHIRE - 0.4%

1,190,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth College, Series 2015B, (Mandatory

Put 8/03/27)

.300

06/01/40

1,197,125

500,000

New Hampshire Housing Finance Authority, Multi-Family

Housing Revenue Bonds, Series 2024-2

.150

07/01/27

501,509

TOTAL NEW HAMPSHIRE

1,698,634

NEW JERSEY - 0.8%

515,000

New Jersey Economic Development Authority, Water Facilities

Revenue Bonds, New Jersey-American Water Company

Inc. Project, Refunding Series 2020B, (AMT), (Mandatory Put

6/01/28)

.750

11/01/34

519,607

600,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Refunding Senior Series 2022A,

(AMT)

.000

12/01/25

601,447

1,275,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Refunding Series 2023A, (AMT)

.000

12/01/26

1,298,667

1,185,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2021A

.000

06/15/26

1,204,401

TOTAL NEW JERSEY

3,624,122

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW MEXICO - 0.2%

$

775,000

Albuquerque Municipal School District 12, Bernalillo and

Sandoval Counties, New Mexico, General Obligation Bonds,

Refunding Series 2025B

.000

%

08/01/28

$

830,668

TOTAL NEW MEXICO

830,668

NEW YORK - 4.2%

500,000

Dormitory Authority of the State of New York, Revenue Bonds,

School Districts Financing Program, Series 2025A

.000

10/01/28

538,862

1,000,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Refunding Series 2025B

.000

11/15/27

1,049,017

1,300,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2025B-2, (Mandatory Put 7/02/29)

.950

11/01/64

1,333,851

2,625,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2021 Subseries F-1

.000

11/01/27

2,766,724

1,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2025 Subseries Series

.000

11/01/27

1,053,990

1,875,000

New York City, New York, General Obligation Bonds, Fiscal

2023 Series 1

.000

08/01/26

1,914,149

1,370,000

New York City, New York, General Obligation Bonds, Fiscal

2025 Series A

.000

08/01/27

1,435,116

1,200,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Sustainability Green Series 2025B-2,

(Mandatory Put 5/01/29)

.600

11/01/64

1,212,999

1,000,000

New York State Power Authority, Green Transmission Project

Revenue Bonds, Green Series 2023A - AGM Insured

.000

11/15/27

1,059,450

1,000,000

New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Series 2025A

.000

03/15/29

1,088,918

2,895,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Forty Second Series 2023,

(AMT)

.000

12/01/26

2,964,463

2,000,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Bond

Anticipation Notes Series 2025A

.000

03/01/28

2,118,888

TOTAL NEW YORK

18,536,427

NORTH CAROLINA - 2.0%

2,040,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Series 55C, (Mandatory

Put 1/15/26)

.200

07/01/56

2,040,113

2,015,000

North Carolina Medical Care Commission, Hospital Revenue

Bonds, CaroMont Health A/K/A Gaston Health, Series 2021A,

(Mandatory Put 2/01/26)

.000

02/01/51

2,029,028

2,000,000

North Carolina State, Federal Grant Anticipation Revenue

Bonds, Refunding Vehicle Series 2025

.000

03/01/28

2,123,732

1,000,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Refunding Senior Lien Series 2017 - AGM

Insured

.000

01/01/26

1,005,333

1,700,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Refunding Senior Lien Series 2017 - AGM

Insured

.000

01/01/27

1,749,115

TOTAL NORTH CAROLINA

8,947,321

NORTH DAKOTA - 0.5%

350,000

Cass County Joint Water Reserve District, North Dakota,

Temporary Improvement Special Assessment Bonds,

Refunding Series 2024A

.450

04/01/27

350,239

215,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2021

.000

12/01/25

215,276

450,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/26

454,667

475,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/27

488,690

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NORTH DAKOTA

(continued)

$

480,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

%

05/01/28

$

500,993

TOTAL NORTH DAKOTA

2,009,865

OHIO - 2.1%

1,440,000

Akron, Bath and Copley Joint Township Hospital District, Ohio,

Hospital Revenue Bonds, Children's Hospital Medical Center,

Refunding Series 2022A

.000

11/15/25

1,443,840

1,000,000

Cleveland, Ohio, Airport System Revenue Bonds, Series 2018A,

(AMT)

.000

01/01/27

1,024,535

265,000

Cleveland-Cuyahoga County Port Authroity, Ohio, Cultural

Facility Revenue Bonds, The Cleveland Museum of Natural

History Project, Series 2021

.000

07/01/26

269,172

1,070,000

Dublin, Ohio, General Obligation Bonds, Limited Tax

Refunding Various Purpose Improvement Series 2025

.000

12/01/29

1,184,750

1,165,000

(d) Jefferson County Port Authority, Ohio, Economic Development

Revenue Bonds, JSW Steel USA Ohio, Inc. Project, Series 2023,

(AMT), (Mandatory Put 12/01/28)

.000

12/01/53

1,178,673

500,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2005A, (AMT)

.750

01/01/29

501,634

1,430,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2014C, (AMT)

.650

12/01/27

1,432,671

1,125,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Dayton Power & Light Company Project, Refunding

Collateralized Series 2015A, (AMT), (Mandatory Put 6/01/27)

.250

11/01/40

1,150,587

1,000,000

Upper Arlington, Ohio, General Obligation Bonds, Various

Purpose Limited Tax Refunding Series 2025

.000

12/01/28

1,081,492

TOTAL OHIO

9,267,354

OKLAHOMA - 0.7%

1,475,000

Cleveland County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Norman Public

Schools Project, Series 2023C

.000

06/01/28

1,562,762

750,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/27

779,877

250,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/28

265,183

605,000

Payne County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Stillwater Public

Schools Project, Series 2024 - BAM Insured

.000

09/01/26

616,936

TOTAL OKLAHOMA

3,224,758

OREGON - 1.8%

1,000,000

Chemeketa Community College District, Oregon, General

Obligation Bonds, Series 2025B

.000

06/15/28

1,068,977

1,500,000

Mount Hood Community College District, Oregon, General

Obligation Bonds, Series 2025

.000

06/15/29

1,640,232

300,000

Oregon Facilities Authority, Revenue Bonds, Samaritan Health

Services, Refunding Series 2016A

.000

10/01/25

300,000

1,005,000

Salem-Keizer School District 24J, Marion and Polk Counties,

Oregon, General Obligation Bonds, Series 2009B

.000

06/15/27

959,952

4,050,000

Washington Multnomah & Yamhill Counties School District 1J

Hillsboro, Oregon, General Obligation Bonds, Series 2017

.000

06/15/26

4,119,168

TOTAL OREGON

8,088,329

PENNSYLVANIA - 2.0%

1,600,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2021A,

(AMT)

.000

01/01/26

1,608,452

1,685,000

Montgomery County, Pennsylvania, General Obligation Bonds,

Series 2025A

.000

03/01/28

1,790,471

1,000,000

(b) North Allegheny School District, Allegheny County,

Pennsylvania, General Obligation Bonds, Series 2025

.000

05/01/28

1,065,249

1,140,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2025A

.000

08/15/29

1,247,562

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

525,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Series 2022B

.000

%

12/01/25

$

526,932

1,000,000

Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding

Series 2025B, (AMT)

.000

07/01/28

1,055,013

1,390,000

University of Pittsburgh of the Commonwealth System of

Higher Education, Pennsylvania, Pitt Asset Notes, Series 2023

.000

02/15/29

1,502,065

TOTAL PENNSYLVANIA

8,795,744

PUERTO RICO - 1.7%

1,240,000

(a) Puerto Rico Industrial, Tourist, Educational, Medical and

Environmental Control Facilities Financing Authority, Hospital

Revenue Bonds, Hospital de la Concepcion, Series 2017A, (Pre-

refunded 11/15/26)

.550

11/15/30

1,248,922

352,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/27

332,974

384,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/29

340,082

68,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/31

55,718

4,339,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/27

4,492,402

860,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/29

920,367

TOTAL PUERTO RICO

7,390,465

SOUTH CAROLINA - 0.2%

1,000,000

South Carolina Association of Governmental Organizations,

Educational Facilities Corporation for Pickens School District,

Installment Purchase Revenue Bonds, Pickens County,

Refunding Series 2025

.000

12/01/28

1,075,597

TOTAL SOUTH CAROLINA

1,075,597

SOUTH DAKOTA - 0.1%

410,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2024C

.300

11/01/29

417,466

TOTAL SOUTH DAKOTA

417,466

TENNESSEE - 1.0%

100,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Revenue Bonds, CommonSpirit Health, Series

2019A-1

.000

08/01/28

105,941

1,000,000

Metropolitan Government of Nashville and Davidson County

Sports Authority, Tennessee, Revenue Bonds, Stadium Project,

Subordinate Senior Series 2023A - AGM Insured

.000

07/01/28

1,064,837

260,000

Metropolitan Nashville Airport Authority, Tennessee, Airport

Improvement Revenue Bonds, Series 2022B, (AMT)

.000

07/01/26

263,996

885,000

Metropolitan Nashville Airport Authority, Tennessee, Airport

Revenue Bonds, Improvement Series 2015B, (AMT)

.000

07/01/26

886,445

2,000,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006B

.625

09/01/26

2,032,102

TOTAL TENNESSEE

4,353,321

TEXAS - 14.8%

1,000,000

Austin, Texas, Airport System Revenue Bonds, Series 2019B,

(AMT)

.000

11/15/25

1,002,493

1,250,000

Austin, Texas, Airport System Revenue Bonds, Series 2019B,

(AMT)

.000

11/15/27

1,305,996

645,000

Bexar County Hospital District, Texas, Certificates of Obligation,

Series 2023

.000

02/15/26

650,455

400,000

Bexar County Hospital District, Texas, Certificates of Obligation,

Series 2023

.000

02/15/27

413,069

4,715,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2025A

.000

08/15/28

5,058,169

545,000

Central Texas Regional Mobility Authority, Revenue Bonds,

Anticipation Notes Subordinate Lien Series 2021C

.000

01/01/27

547,610

555,000

Chapel Hill Independent School District, Smith County, Texas,

General Obligation Bonds, School Building Series 2023

.000

02/15/26

559,818

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,560,000

Collin County, Texas, General Obligation Bonds, Refunding

Limited Tax Permanent Improvement, Tax Notes Series 2025

.000

%

02/15/29

$

1,687,591

1,295,000

Cypress-Fairbanks Independent School District, Harris County,

Texas, General Obligation Bonds, Refunding Series 2025

.000

02/15/29

1,404,416

1,200,000

(b) Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds, Refunding & Improvement Series 2025A-1, (AMT)

.000

11/01/28

1,273,198

1,245,000

Dallas, Texas, General Obligation Bonds, Refunding and

Improvement Series 2024B

.000

02/15/27

1,286,533

1,000,000

Denton, Texas, Certificates of Obligation, Series 2025

.000

02/15/30

1,101,995

1,585,000

Dickinson Independent School District, Galveston County,

Texas, General Obligation Bonds, Refunding Series 2023A

.000

02/15/27

1,641,797

1,420,000

Fort Bend County, Texas, General Obligation Bonds, Tax Road

Series 2024

.000

03/01/27

1,469,571

600,000

Frisco Independent School District, Collin and Denton

Counties, Texas, General Obligation Bonds, Refunding Series

2025A

.000

02/15/30

662,768

1,000,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/27

1,034,183

1,000,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/28

1,059,805

1,000,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/29

1,082,126

500,000

Grand Prairie, Texas, Combination Tax and Revenue Certificates

of Obligation, Series 2024

.000

02/15/27

517,092

500,000

Grand Prairie, Texas, Combination Tax and Revenue Certificates

of Obligation, Series 2024

.000

02/15/28

529,071

2,055,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2019A

.000

12/01/25

2,062,388

5,675,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2019B-3, (Mandatory Put

12/01/26)

.000

07/01/49

5,824,356

1,450,000

Harris County Flood Control District, Texas, Contract Tax Bonds,

Refunding Series 2025A

.000

09/15/29

1,589,024

1,820,000

Harris County, Texas, General Obligation Bonds, Refunding

Road Series 2025A

.000

09/15/29

1,995,940

585,000

Harris County, Texas, Road Revenue Bonds, Refunding, Series

2024A

.000

09/15/27

614,310

3,630,000

Houston, Texas, Airport System Revenue Bonds, Refunding &

Subordinate Lien Series 2018C, (AMT)

.000

07/01/26

3,689,048

1,195,000

Houston, Texas, General Obligation Bonds, Refunding Public

Improvement Series 2016A

.000

03/01/27

1,206,691

525,000

Hunt Memorial Hospital District, Hunt County, Texas, General

Obligation Bonds, Refunding & Improvment Series 2020

.000

02/15/26

528,226

1,000,000

Irving, Dallas County, Texas, General Obligation Bonds, Series

2024

.000

09/15/28

1,074,529

1,125,000

Katy Independent School District, Harris, Fort Bend and Waller

Counties, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/28

1,192,013

1,220,000

Klein Independent School District, Harris County, Texas,

General Obligation Bonds, Refunding Schoolhouse Series

2025

.000

08/01/29

1,335,422

1,000,000

Lake Dallas Independent School District, Denton County, Texas,

General Obligation Bonds, Refunding Series 2025

.000

08/15/29

1,092,803

460,000

Lewisville Independent School District, Denton and Tarrant

Counties, Texas, General Obligation Bonds, School Building

Series 2025

.000

08/15/28

494,409

1,230,000

McKinney Independent School District, Collin County, Texas,

General Obligation Bonds, Refunding & School Building Series

2021

.000

02/15/27

1,271,201

2,235,000

Midlothian Independent School District, Ellis County, Texas,

General Obligation Bonds, School Building Series 2020

.000

02/15/26

2,255,241

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

100,000

Mission Economic Development Corporation, Texas,

Solid Waste Disposal Revenue Bonds, Graphic Packaging

International, LLC Project, Green Series 2025, (AMT),

(Mandatory Put 6/01/30)

.000

%

12/01/64

$

103,639

605,000

(c) Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Republic Services Inc.

Project, Adjustable Rate Series 2020A, (AMT), (Mandatory Put

11/03/25)

.850

05/01/50

604,928

1,250,000

Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Waste Management Inc.

Project, Series 2023A, (AMT), (Mandatory Put 7/01/27)

.250

06/01/48

1,257,480

2,735,000

North East Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding Series 2025

.000

08/01/29

2,993,754

1,905,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier Series 2023A

.000

01/01/27

1,964,801

1,330,000

Plano Independent School District, Collin County, Texas,

General Obligation Bonds, School Building Series 2025

.000

02/15/28

1,408,908

315,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.875

01/01/26

313,160

1,055,000

San Antonio, Texas, General Obligation Bonds, Tax Notes

Series 2024

.000

02/01/27

1,090,554

1,500,000

Spring Branch Independent School District, Harris County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/01/29

1,622,337

555,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Scott & White

Healthcare Project, Series 2022E, (Mandatory Put 5/15/26)

.000

11/15/52

559,809

1,020,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025B, (Mandatory Put 11/15/29)

.000

11/15/64

1,102,400

545,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Refunding Series 2025D

.950

07/01/28

544,522

565,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Refunding Series 2025D

.000

01/01/29

564,708

1,055,000

Texas Transportation Commission, Central Texas Turnpike

System Revenue Bonds, Refunding Second Tier Series 2024C

.000

08/15/31

1,183,702

TOTAL TEXAS

65,828,059

UTAH - 0.5%

500,000

Alpine School District Local Building Authority, Utah County,

Utah, Lease Revenue Bonds, Series 2025

.000

03/15/29

543,938

1,405,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Series 2025

.000

12/15/28

1,521,738

TOTAL UTAH

2,065,676

VIRGIN ISLANDS - 0.6%

1,000,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/25

1,000,000

1,645,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/26

1,657,970

TOTAL VIRGIN ISLANDS

2,657,970

VIRGINIA - 1.4%

3,220,000

Hampton Roads Transportation Accountability Commission,

Virginia, Revenue Bonds, Hampton Roads Transportation Fund,

Intermediate Lien Bond Anticipation Notes Series 2023A

.000

07/01/27

3,363,487

260,000

(b) Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2024F-3

.650

01/01/28

259,157

265,000

(b) Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2024F-3

.700

07/01/28

263,940

1,500,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2024H

.600

12/01/28

1,500,936

500,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2025A

.250

09/01/29

501,713

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VIRGINIA

(continued)

$

500,000

Virginia Small Business Financing Authority, Environmental

Facilities Revenue Bonds (Pure Salmon Virginia LLC Project),

Escrow Refinancing Series 2022, (AMT), (Mandatory Put

11/20/25)

.000

%

11/01/52

$

500,295

TOTAL VIRGINIA

6,389,528

WASHINGTON - 4.0%

2,525,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2015C, (AMT)

.000

04/01/26

2,527,774

1,550,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2018A, (AMT)

.000

05/01/27

1,599,998

5,485,000

Washington Health Care Facilities Authority, Revenue Bonds,

CommonSpirit Health, Series 2019B-3, (Mandatory Put

8/01/26)

.000

08/01/49

5,510,161

770,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/25

770,000

5,040,000

Washington State, General Obligation Bonds, Various Purpose

Refunding Series 2025B

.000

07/01/28

5,398,712

1,780,000

Washington State, General Obligation Bonds, Various Purpose

Refunding Series 2025B

.000

07/01/29

1,948,292

TOTAL WASHINGTON

17,754,937

WEST VIRGINIA - 0.3%

570,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Series 2009A, (Mandatory Put

6/01/28)

.700

12/01/42

584,048

400,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2024D

.000

11/01/27

420,510

500,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2024D

.000

11/01/28

536,793

TOTAL WEST VIRGINIA

1,541,351

WISCONSIN - 2.5%

1,250,000

Kenosha, Wisconsin, General Obligation Promissory Notes

Series 2021B

.000

10/01/25

1,250,000

400,000

Public Finance Authority of Wisconsin, Health Care Facilities

Revenue Bonds, Blue Ridge HealthCare, Refunding Series

2020A

.000

01/01/26

402,042

300,000

Public Finance Authority of Wisconsin, Hospital Revenue

Bonds, Carson Valley Medical Center, Series 2021A

.000

12/01/26

292,773

325,000

Public Finance Authority of Wisconsin, Hospital Revenue

Bonds, Renown Regional Medical Center Project, Series 2020A

.000

06/01/26

329,642

1,590,000

Public Finance Authority of Wisconsin, Pollution Control

Revenue Bonds, Duke Energy Progress Project, Refunding

Series 2022A-2, (Mandatory Put 10/01/26)

.300

10/01/46

1,594,563

1,300,000

Racine, Racine County, Wisconsin, General Obligation Bonds,

Promissory Notes Series 2025

.500

03/15/27

1,309,899

1,000,000

University of Wisconsin Hospitals and Clinics Authority,

Revenue Bonds, Sustainability Series 2024A

.000

04/01/27

1,036,920

1,360,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Mercy Alliance, Inc., Series 2012

.000

06/01/27

1,364,198

435,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, PHW Muskego, Inc. Project, Series 2021

.000

10/01/25

435,000

455,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, PHW Muskego, Inc. Project, Series 2021

.000

10/01/26

457,436

250,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Agnesian HealthCare, Inc., Series

2017

.000

07/01/26

253,656

460,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, PHM / New Richmond Senior

Housing, Inc., Refunding Series 2021

.250

07/01/26

450,168

2,030,000

Wisconsin State, General Obligation Bonds, Refunding Series

2024-2

.000

05/01/28

2,168,164

TOTAL WISCONSIN

11,344,461

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WYOMING - 0.1%

$

500,000

Consolidated Wyoming Municipalities Electric Power System

Joint Powers Board, Wyoming, Electric Facilities Improvement

Lease Revenue Bonds, Gillette Electrical System Project,

Refunding Series 2022

.000

%

06/01/26

$

507,441

TOTAL WYOMING

507,441

TOTAL MUNICIPAL BONDS

(Cost $443,344,906)

446,647,670

TOTAL LONG-TERM INVESTMENTS

(Cost $443,344,906)

446,647,670

OTHER ASSETS & LIABILITIES, NET - (0.1)%

(584,128)

NET ASSETS - 100%

$

446,063,542

AMT

Alternative Minimum Tax

ETM

Escrowed to maturity

(a) 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.

(b) When-issued or delayed delivery security.

(c) Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of

the security. Coupon rate reflects the rate at period end.

(d) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the reporting period, the aggregate value of these securities is $4,874,072 or 1.1% of Total Investments.

Statement of Assets and Liabilities

See Notes to Financial Statements

September 30, 2025 (Unaudited)

All-American

Intermediate

Duration

Limited Term

Short Term

ASSETS

Long-term investments, at value

†

$

3,774,212,409

$

8,026,408,079

$

4,598,356,078

$

446,647,670

Affiliated investments, at value

++

17,451,000

8,725,500

–

–

Short-term investments, at value

◊

–

110,029,747

–

–

Cash

52,799,366

16,020,323

7,972,387

884,986

Receivables:

Interest

48,320,830

93,621,748

51,428,193

5,363,385

Investments sold

34,479,938

71,823,537

77,126,532

2,656,556

Reimbursement from Adviser

4,126

2,063

–

26,825

Shares sold

3,135,800

7,177,601

3,386,961

4,006,810

Sale of Vistra Vision interest

#

(1) 25,686,386

95,196,271

100,479,320

791,146

Other

358,207

506,156

355,014

78,977

Total assets

3,956,448,062

8,429,511,025

4,839,104,485

460,456,355

LIABILITIES

Borrowings

13,130,119

8,086,737

5,752,672

–

Floating rate obligations

122,385,000

–

–

–

Payables:

Management fees

1,219,906

2,563,556

1,349,589

142,076

Dividends

2,046,130

5,418,333

1,905,636

167,637

Interest

2,135,523

25,498

17,697

1,475

Investments purchased - regular settlement

28,027,540

17,157,489

10,761,100

2,152,220

Investments purchased - when-issued/delayed-delivery settlement

51,722,919

137,180,199

77,492,234

9,668,639

Shares redeemed

9,542,258

14,456,475

6,005,372

2,040,166

Vistra Vision sale transactions costs

(1) 624,441

2,314,239

2,442,671

19,233

Accrued expenses:

Custodian fees

269,655

392,226

312,199

48,204

Directors/Trustees fees

321,116

489,478

342,743

35,039

Professional fees

34,121

27,318

27,221

19,777

Shareholder reporting expenses

71,713

96,997

120,614

27,548

Shareholder servicing agent fees

317,843

718,433

706,115

32,005

12b-1 distribution and service fees

359,948

136,919

141,601

35,723

Other

8,445

12,366

9,484

3,071

Total liabilities

232,216,677

189,076,263

107,386,948

14,392,813

Commitments and contingencies

(2) Net assets

$

3,724,231,385

$

8,240,434,762

$

4,731,717,537

$

446,063,542

NET ASSETS CONSIST OF:

Paid-in capital

$

4,809,194,180

$

8,628,410,328

$

4,876,054,082

$

460,144,918

Total distributable earnings (loss)

(1,084,962,795)

(387,975,566)

(144,336,545)

(14,081,376)

Net assets

$

3,724,231,385

$

8,240,434,762

$

4,731,717,537

$

446,063,542

†

&nbsp;&nbsp;&nbsp;&nbsp;Long-term investments, cost

$

3,781,557,444

$

8,255,621,480

$

4,666,010,231

$

443,344,906

++

&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investments, cost

$

17,677,750

$

8,602,500

$

—

$

—

◊

&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments, cost

$

—

$

110,030,000

$

—

$

—

#

&nbsp;&nbsp;&nbsp;&nbsp;Net of discount of

$

1,132,612

$

4,197,574

$

4,430,523

$

34,884

(1) Refer to Note 4 of the Notes to Financial Statements for more information.

(2) As disclosed in Notes to Financial Statements.

#### Statement of Assets and Liabilities
(continued)

See Notes to Financial Statements

All-American

Intermediate

Duration

Limited Term

Short Term

CLASS A:

Net assets

$

1,750,194,448

$

706,636,764

$

771,856,442

$

196,316,725

Shares outstanding

176,368,444

79,967,872

70,090,792

19,868,913

Net asset value ("NAV") per share

$

9.92 $

8.84 $

11.01 $

9.88 Maximum sales charge

4.20%

3.00%

2.50%

2.50%

Offering price per share (NAV per share plus maximum sales charge)

$

10.35 $

9.11 $

11.29 $

10.13 CLASS C:

Net assets

$

88,955,282

$

25,938,297

$

16,853,760

$

5,152,700

Shares outstanding

8,965,875

2,933,619

1,537,134

523,391

NAV and offering price per share

$

9.92 $

8.84 $

10.96 $

9.84 CLASS R6:

Net assets

$

127,128,097

$

—

$

—

$

—

Shares outstanding

12,749,592

—

—

—

NAV and offering price per share

$

9.97 $

—

$

—

$

—

CLASS I:

Net assets

$

1,757,953,558

$

7,507,859,701

$

3,943,007,335

$

244,594,117

Shares outstanding

176,428,500

846,933,988

359,554,962

24,714,061

NAV and offering price per share

$

9.96 $

8.86 $

10.97 $

9.90 Authorized shares - per class

Unlimited

Unlimited

Unlimited

2 billion

Par value per share

$

0.01 $

0.01 $

0.01 $

0.0001 Statement of Operations

See Notes to Financial Statements

Six Months Ended September 30, 2025 (Unaudited)

All-American

Intermediate

Duration

Limited Term

Short Term

INVESTMENT INCOME

Dividends from affiliated investments

$

339,990

$

126,573

$

—

$

—

Interest

93,154,651

151,414,711

76,465,262

7,228,800

Total investment income

93,494,641

151,541,284

76,465,262

7,228,800

EXPENSES

–

–

–

–

Management fees

7,508,169

15,128,755

8,131,318

833,832

12b-1 service fees - Class A

1,760,484

704,346

778,718

188,804

12b-1 distribution and service fees - Class C

470,838

134,051

89,288

26,964

Shareholder servicing agent fees - Class A

319,056

130,208

237,978

27,865

Shareholder servicing agent fees - Class C

17,081

4,955

5,456

797

Shareholder servicing agent fees - Class R6

3,371

—

—

—

Shareholder servicing agent fees - Class I

320,251

1,331,318

1,185,861

33,965

Interest expense

2,594,389

101,100

106,018

43,204

Directors/Trustees fees

69,025

147,640

29,661

7,840

Custodian expenses, net

176,837

265,718

201,095

31,633

Registration fees

76,945

85,857

58,937

38,914

Professional fees

23,789

15,978

49,692

26,849

Shareholder reporting expenses

62,200

86,812

95,217

21,946

Other

22,697

31,630

24,181

3,608

Total expenses before fee waiver/expense reimbursement

13,425,132

18,168,368

10,993,420

1,286,221

Fee waiver/expense reimbursement

—

—

—

(167,665)

Net expenses

13,425,132

18,168,368

10,993,420

1,118,556

Net investment income (loss)

80,069,509

133,372,916

65,471,842

6,110,244

REALIZED AND UNREALIZED GAIN (LOSS)

Realized gain (loss) from:

Investments

(15,688,464)

(5,879,665)

2,704,050

104,313

Futures contracts

665,499

—

—

—

Net realized gain (loss)

(15,022,965)

(5,879,665)

2,704,050

104,313

Change in unrealized appreciation (depreciation) on:

Investments

(3,315,079)

106,598,193

63,292,310

2,109,338

Affiliated investments

74,410

154,973

—

—

Net change in unrealized appreciation (depreciation)

(3,240,669)

106,753,166

63,292,310

2,109,338

Net realized and unrealized gain (loss)

(18,263,634)

100,873,501

65,996,360

2,213,651

Net increase (decrease) in net assets from operations

$

61,805,875

$

234,246,417

$

131,468,202

$

8,323,895

Statement of Changes in Net Assets

See Notes to Financial Statements

All-American

Intermediate Duration

Unaudited

Six Months Ended

9/30/25

Year Ended

3/31/25

Unaudited

Six Months Ended

9/30/25

Year Ended

3/31/25

OPERATIONS

Net investment income (loss)

$

80,069,509

$

170,457,795

$

133,372,916

$

243,470,963

Net realized gain (loss)

(15,022,965)

1,366,546

(5,879,665)

49,642,861

Net change in unrealized appreciation (depreciation)

(3,240,669)

(98,508,707)

106,753,166

(157,916,947)

Net increase (decrease) in net assets from operations

61,805,875

73,315,634

234,246,417

135,196,877

DISTRIBUTIONS TO SHAREHOLDERS

Dividends:

Class A

(37,475,538)

(76,635,222)

(11,148,466)

(22,409,276)

Class C

(1,628,867)

(3,714,821)

(313,341)

(678,338)

Class R6

(2,888,249)

(5,490,382)

—

—

Class I

(39,615,409)

(80,835,437)

(121,017,944)

(219,001,552)

Total distributions

(81,608,063)

(166,675,862)

(132,479,751)

(242,089,166)

FUND SHARE TRANSACTIONS

Subscriptions

505,199,137

797,338,410

1,822,044,367

1,992,487,176

Reinvestments of distributions

69,160,721

140,824,897

102,316,049

187,632,826

Redemptions

(736,790,336)

(1,288,486,105)

(1,448,085,194)

(1,825,307,273)

Net increase (decrease) from Fund share transactions

(162,430,478)

(350,322,798)

476,275,222

354,812,729

Net increase (decrease) in net assets

(182,232,666)

(443,683,026)

578,041,888

247,920,440

Net assets at the beginning of period

3,906,464,051

4,350,147,077

7,662,392,874

7,414,472,434

Net assets at the end of period

$

3,724,231,385

$

3,906,464,051

$

8,240,434,762

$

7,662,392,874

See Notes to Financial Statements

Limited Term

Short Term

Unaudited

Six Months Ended

9/30/25

Year Ended

3/31/25

Unaudited

Six Months Ended

9/30/25

Year Ended

3/31/25

OPERATIONS

Net investment income (loss)

$

65,471,842

$

133,405,880

$

6,110,244

$

12,410,509

Net realized gain (loss)

2,704,050

64,598,345

104,313

589,338

Net change in unrealized appreciation (depreciation)

63,292,310

(99,978,823)

2,109,338

1,462,162

Net increase (decrease) in net assets from operations

131,468,202

98,025,402

8,323,895

14,462,009

DISTRIBUTIONS TO SHAREHOLDERS

Dividends:

Class A

(10,700,712)

(21,888,542)

(2,811,759)

(5,217,884)

Class C

(172,421)

(429,893)

(57,594)

(129,875)

Class I

(56,733,397)

(116,835,869)

(3,631,854)

(7,152,465)

Total distributions

(67,606,530)

(139,154,304)

(6,501,207)

(12,500,224)

FUND SHARE TRANSACTIONS

Subscriptions

532,762,434

1,109,047,713

111,774,723

148,665,351

Reinvestments of distributions

55,655,763

112,696,325

5,454,067

10,056,647

Redemptions

(645,454,436)

(1,685,090,763)

(85,457,102)

(244,382,912)

Net increase (decrease) from Fund share transactions

(57,036,239)

(463,346,725)

31,771,688

(85,660,914)

Net increase (decrease) in net assets

6,825,433

(504,475,627)

33,594,376

(83,699,129)

Net assets at the beginning of period

4,724,892,104

5,229,367,731

412,469,166

496,168,295

Net assets at the end of period

$

4,731,717,537

$

4,724,892,104

$

446,063,542

$

412,469,166

Financial Highlights

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income (NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Total

Net Asset

Value,

End of

Period

All-American

Class

A

9/30/25

(d) $

9.96 $

0.21 $

(0.04)

$

0.17 $

(0.21)

$

—

$

(0.21)

$

9.92 3/31/25

10.20 0.41 (0.25)

0.16 (0.40)

—

(0.40)

9.96 3/31/24

10.13 0.38 0.06 0.44 (0.37)

—

(0.37)

10.20 3/31/23

11.08 0.36 (0.97)

(0.61)

(0.34)

—

(0.34)

10.13 3/31/22

12.09 0.34 (1.01)

(0.67)

(0.34)

—

(0.34)

11.08 3/31/21

11.49 0.35 0.62 0.97 (0.37)

—

(0.37)

12.09 Class

C

9/30/25

(d) 9.96 0.17 (0.04)

0.13 (0.17)

—

(0.17)

9.92 3/31/25

10.20 0.32 (0.24)

0.08 (0.32)

—

(0.32)

9.96 3/31/24

10.13 0.30 0.06 0.36 (0.29)

—

(0.29)

10.20 3/31/23

11.08 0.28 (0.98)

(0.70)

(0.25)

—

(0.25)

10.13 3/31/22

12.09 0.24 (1.01)

(0.77)

(0.24)

—

(0.24)

11.08 3/31/21

11.48 0.26 0.62 0.88 (0.27)

—

(0.27)

12.09 Class

R6

9/30/25

(d) 10.01 0.22 (0.04)

0.18 (0.22)

—

(0.22)

9.97 3/31/25

10.25 0.43 (0.24)

0.19 (0.43)

—

(0.43)

10.01 3/31/24

10.18 0.41 0.06 0.47 (0.40)

—

(0.40)

10.25 3/31/23

11.14 0.38 (0.98)

(0.60)

(0.36)

—

(0.36)

10.18 3/31/22

12.16 0.37 (1.02)

(0.65)

(0.37)

—

(0.37)

11.14 3/31/21

11.55 0.38 0.62 1.00 (0.39)

—

(0.39)

12.16 Class

I

9/30/25

(d) 10.01 0.22 (0.05)

0.17 (0.22)

—

(0.22)

9.96 3/31/25

10.24 0.43 (0.24)

0.19 (0.42)

—

(0.42)

10.01 3/31/24

10.18 0.40 0.05 0.45 (0.39)

—

(0.39)

10.24 3/31/23

11.13 0.38 (0.97)

(0.59)

(0.36)

—

(0.36)

10.18 3/31/22

12.14 0.37 (1.02)

(0.65)

(0.36)

—

(0.36)

11.13 3/31/21

11.54 0.38 0.61 0.99 (0.39)

—

(0.39)

12.14 (a) Based on average shares outstanding.

(b) Total returns are at NAV and do not include any sales charge. Total returns are not annualized.

(c) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on

the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the

Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on

borrowings, as described in Notes to Financial Statements.

(d) Unaudited.

(e) Annualized.

See Notes to Financial Statements

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b) Net

Assets,

End of

Period (000)

Expenses

Including

Interest

(c) Expenses

Excluding

Interest

NII

(Loss)

Portfolio

Turnover

Rate

1.74 %

$

1,750,194

0.80 %

(e) 0.66 %

(e) 4.19 %

(e) 28

%

1.53 1,836,003

0.82 0.66 3.99 33

4.47 2,057,942

0.76 0.67 3.81 59

(5.48)

2,207,643

0.82 0.66 3.50 47

(5.76)

3,012,154

0.70 0.64 2.80 27

8.51 3,154,428

0.69 0.66 2.98 19

1.34 88,955

1.60 (e) 1.46 (e) 3.39 (e) 28

0.74 101,990

1.62 1.46 3.19 33

3.68 138,312

1.56 1.47 3.00 59

(6.26)

184,011

1.62 1.46 2.70 47

(6.54)

265,767

1.50 1.44 2.00 27

7.73 293,333

1.49 1.46 2.18 19

1.88 127,128

0.57 (e) 0.43 (e) 4.42 (e) 28

1.82 131,342

0.59 0.43 4.23 33

4.71 137,329

0.53 0.44 4.04 59

(5.30)

142,935

0.58 0.42 3.74 47

(5.58)

159,516

0.47 0.41 3.04 27

8.79 114,355

0.45 0.42 3.19 19

1.76 1,757,954

0.60 (e) 0.46 (e) 4.39 (e) 28

1.86 1,837,129

0.62 0.46 4.20 33

4.60 2,016,564

0.56 0.47 4.00 59

(5.23)

2,264,482

0.62 0.46 3.69 47

(5.55)

4,249,974

0.50 0.44 3.00 27

8.69 4,281,209

0.49 0.45 3.17 19

#### Financial Highlights
(continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income (NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Total

Net Asset

Value,

End of

Period

Intermediate Duration

Class

A

9/30/25

(e) $

8.73 $

0.14 $

0.11 $

0.25 $

(0.14)

$

—

$

(0.14)

$

8.84 3/31/25

8.85 0.27 (0.12)

0.15 (0.27)

—

(0.27)

8.73 3/31/24

8.77 0.25 0.07 0.32 (0.24)

—

(0.24)

8.85 3/31/23

9.05 0.21 (0.29)

(0.08)

(0.20)

—

(0.20)

8.77 3/31/22

9.57 0.18 (0.52)

(0.34)

(0.18)

—

(0.18)

9.05 3/31/21

9.26 0.20 0.33 0.53 (0.22)

—

(0.22)

9.57 Class

C

9/30/25

(e) 8.74 0.10 0.10 0.20 (0.10)

—

(0.10)

8.84 3/31/25

8.85 0.20 (0.12)

0.08 (0.19)

—

(0.19)

8.74 3/31/24

8.77 0.18 0.07 0.25 (0.17)

—

(0.17)

8.85 3/31/23

9.06 0.14 (0.30)

(0.16)

(0.13)

—

(0.13)

8.77 3/31/22

9.57 0.10 (0.51)

(0.41)

(0.10)

—

(0.10)

9.06 3/31/21

9.26 0.13 0.32 0.45 (0.14)

—

(0.14)

9.57 Class

I

9/30/25

(e) 8.76 0.15 0.10 0.25 (0.15)

—

(0.15)

8.86 3/31/25

8.88 0.29 (0.13)

0.16 (0.28)

—

(0.28)

8.76 3/31/24

8.80 0.26 0.08 0.34 (0.26)

—

(0.26)

8.88 3/31/23

9.08 0.23 (0.30)

(0.07)

(0.21)

—

(0.21)

8.80 3/31/22

9.60 0.20 (0.52)

(0.32)

(0.20)

—

(0.20)

9.08 3/31/21

9.29 0.22 0.33 0.55 (0.24)

—

(0.24)

9.60 (a) Based on average shares outstanding.

(b) Total returns are at NAV and do not include any sales charge. Total returns are not annualized.

(c) The Fund has a contractual fee waiver/expense reimbursement agreement with the Adviser, but did not receive a fee

waiver/expense reimbursement during the periods presented herein. See Notes to Financial Statements for more

information.

(d) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on

the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the

Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on

borrowings, as described in Notes to Financial Statements.

(e) Unaudited.

(f) Annualized.

See Notes to Financial Statements

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b) Net

Assets,

End of

Period (000)

Expenses

Including

Interest

(c),(d)

Expenses

Excluding

Interest

(c) NII

(Loss)

(c) Portfolio

Turnover

Rate

.88

%

$

706,637

.64

%

(f) 0

.64

%

(f) 3

.19

%

(f) 14

%

.65

719,633

.64

.63

.01

.70

765,602

.65

.65

.82

(0

.90)

845,566

.65

.64

.38

(3

.66)

940,178

.63

.63

.87

.79

967,315

.64

.64

.12

.33

25,938

.44

(f) 1

.44

(f) 2

.39

(f) 14

.94

27,985

.45

.44

.21

.86

34,831

.45

.45

.02

(1

.80)

43,566

.45

.44

.58

(4

.34)

55,713

.43

.43

.07

.93

65,566

.44

.44

.33

.86

7,507,860

.44

(f) 0

.44

(f) 3

.39

(f) 14

.85

6,914,775

.44

.43

.21

.90

6,614,040

.45

.45

.02

(0

.67)

7,112,564

.45

.44

.57

(3

.46)

8,785,900

.43

.43

.06

.97

9,315,167

.44

.44

.32

(continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income

(NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Return

of

Capital

Total

Net Asset

Value,

End of

Period

Limited Term

Class

A

9/30/25

(d) $

10.86 $

0.14 $

0.16 $

0.30 $

(0.15)

$

—

$

—

$

(0.15)

$

11.01 3/31/25

10.95 0.27 (0.08)

0.19 (0.28)

—

—

(0.28)

10.86 3/31/24

10.87 0.24 0.07 0.31 (0.23)

—

—

(0.23)

10.95 3/31/23

10.92 0.16 (0.08)

0.08 (0.13)

—

—

(0.13)

10.87 3/31/22

11.32 0.12 (0.40)

(0.28)

(0.12)

—

—

(0.12)

10.92 3/31/21

11.02 0.15 0.35 0.50 (0.19)

—

(0.01)

(0.20)

11.32 Class

C

9/30/25

(d) 10.81 0.10 0.16 0.26 (0.11)

—

—

(0.11)

10.96 3/31/25

10.91 0.18 (0.09)

0.09 (0.19)

—

—

(0.19)

10.81 3/31/24

10.82 0.15 0.08 0.23 (0.14)

—

—

(0.14)

10.91 3/31/23

10.88 0.07 (0.08)

(0.01)

(0.05)

—

—

(0.05)

10.82 3/31/22

11.27 0.03 (0.39)

(0.36)

(0.03)

—

—

(0.03)

10.88 3/31/21

10.98 0.06 0.34 0.40 (0.10)

—

(0.01)

(0.11)

11.27 Class

I

9/30/25

(d) 10.82 0.15 0.16 0.31 (0.16)

—

—

(0.16)

10.97 3/31/25

10.91 0.29 (0.08)

0.21 (0.30)

—

—

(0.30)

10.82 3/31/24

10.82 0.26 0.08 0.34 (0.25)

—

—

(0.25)

10.91 3/31/23

10.88 0.18 (0.08)

0.10 (0.16)

—

—

(0.16)

10.82 3/31/22

11.28 0.14 (0.40)

(0.26)

(0.14)

—

—

(0.14)

10.88 3/31/21

10.98 0.17 0.35 0.52 (0.21)

—

(0.01)

(0.22)

11.28 (a) Based on average shares outstanding.

(b) Total returns are at NAV and do not include any sales charge. Total returns are not annualized.

(c) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on

the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the

Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on

borrowings, as described in Notes to Financial Statements.

(d) Unaudited.

(e) Annualized.

See Notes to Financial Statements

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b) Net

Assets,

End of

Period (000)

Expenses

Including

Interest

(c) Expenses

Excluding

Interest

NII

(Loss)

Portfolio

Turnover

Rate

.78

%

$

771,856

.63

%

(e) 0

.63

%

(e) 2

.64

%

(e) 17

%

.74

790,406

.63

.62

.45

.89

928,083

.63

.63

.19

.77

1,152,357

.61

.60

.45

(2

.55)

1,523,484

.59

.59

.05

.55

1,597,780

.61

.61

.31

.37

16,854

.43

(e) 1

.43

(e) 1

.84

(e) 17

.86

18,998

.43

.42

.64

.17

31,105

.43

.43

.38

(0

.11)

49,258

.41

.40

.65

(3

.25)

70,792

.39

.39

.26

.64

88,543

.41

.41

.53

.88

3,943,007

.43

(e) 0

.43

(e) 2

.84

(e) 17

.96

3,915,488

.43

.42

.65

.20

4,270,180

.43

.43

.38

.90

5,565,627

.41

.40

.65

(2

.35)

6,860,653

.39

.39

.25

.76

6,172,134

.41

.41

.51

(continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income (NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Total

Net Asset

Value,

End of

Period

Short Term

Class

A

9/30/25

(e) $

9.84 $

0.14 $

0.05 $

0.19 $

(0.15)

$

—

$

(0.15)

$

9.88 3/31/25

9.80 0.27 0.05 0.32 (0.28)

—

(0.28)

9.84 3/31/24

9.79 0.22 0.01 0.23 (0.22)

—

(0.22)

9.80 3/31/23

9.82 0.12 (0.05)

0.07 (0.10)

—

(0.10)

9.79 3/31/22

10.18 0.08 (0.36)

(0.28)

(0.08)

—

(0.08)

9.82 3/31/21

10.03 0.11 0.18 0.29 (0.14)

—

(0.14)

10.18 Class

C

9/30/25

(e) 9.80 0.10 0.05 0.15 (0.11)

—

(0.11)

9.84 3/31/25

9.76 0.19 0.05 0.24 (0.20)

—

(0.20)

9.80 3/31/24

9.76 0.14 —

0.14 (0.14)

—

(0.14)

9.76 3/31/23

9.79 0.04 (0.04)

—

(0.03)

—

(0.03)

9.76 3/31/22

10.15 (—)

(g) (0.36)

(0.36)

(—)

(g) —

—

9.79 3/31/21

10.00 0.03 0.18 0.21 (0.06)

—

(0.06)

10.15 Class

I

9/30/25

(e) 9.85 0.15 0.06 0.21 (0.16)

—

(0.16)

9.90 3/31/25

9.81 0.29 0.05 0.34 (0.30)

—

(0.30)

9.85 3/31/24

9.81 0.24 —

0.24 (0.24)

—

(0.24)

9.81 3/31/23

9.84 0.14 (0.05)

0.09 (0.12)

—

(0.12)

9.81 3/31/22

10.19 0.10 (0.35)

(0.25)

(0.10)

—

(0.10)

9.84 3/31/21

10.04 0.13 0.18 0.31 (0.16)

—

(0.16)

10.19 (a) Based on average shares outstanding.

(b) Total returns are at NAV and do not include any sales charge. Total returns are not annualized.

(c) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on

the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the

Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on

borrowings, as described in Notes to Financial Statements.

(d) After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Notes to Financial Statements

for more information.

(e) Unaudited.

(f) Annualized.

(g) Value rounded to zero.

See Notes to Financial Statements

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b) Net

Assets,

End of

Period (000)

Gross

Expenses

Including

Interest

(c) Gross

Expenses

Excluding

Interest

Net

Expenses

Including

Interest

(c),(d)

Net

Expenses

Excluding

Interest

(d) NII

(Loss)

(d) Portfolio

Turnover

Rate

.91

%

$

196,317

.70

%

(f) 0

.68

%

(f) 0

.63

%

(f) 0

.61

%

(f) 2

.78

%

(f) 22

%

.28

185,521

.71

.68

.63

.60

.79

.36

205,142

.72

.71

.72

.71

.27

.77

281,531

.69

.69

.69

.69

.20

(2

.80)

277,719

.67

.67

.67

.67

.77

.90

329,109

.68

.68

.68

.68

.08

.49

5,153

.50

(f) 1

.48

(f) 1

.43

(f) 1

.41

(f) 1

.98

(f) 22

.45

5,273

.51

.48

.43

.40

.99

.43

8,102

.52

.51

.52

.51

.46

.00

(g) 13,160

.49

.49

.49

.49

.41

(3

.50)

12,359

.47

.47

.47

.47

(0

.02)

.08

16,519

.48

.48

.48

.48

.29

.11

244,594

.50

(f) 0

.48

(f) 0

.43

(f) 0

.41

(f) 2

.98

(f) 22

.48

221,675

.51

.48

.43

.40

.99

.44

282,925

.52

.51

.52

.51

.45

.98

404,284

.49

.49

.49

.49

.39

(2

.51)

447,376

.47

.47

.47

.47

.97

.10

469,157

.48

.48

.48

.48

.28

Notes to Financial Statements

(Unaudited)

1. General Information

Trust and Fund Information:

Nuveen Municipal Trust and Nuveen Investment Funds, Inc. (each a "Trust" and collectively, the "Trusts"), are

open-end management investment companies registered under the Investment Company Act of 1940, (the "1940 Act"), as amended. Nuveen

Municipal Trust is comprised of Nuveen All-American Municipal Bond Fund ("All-American"), Nuveen Intermediate Duration Municipal Bond Fund

("Intermediate Duration") and Nuveen Limited Term Municipal Bond Fund ("Limited Term"), among others, and Nuveen Investment Funds, Inc.

is comprised of Nuveen Short Term Municipal Bond Fund ("Short Term"), among others, (each a "Fund" and collectively, the "Funds"). Nuveen

Municipal Trust was organized as a Massachusetts business trust on July 1, 1996. Nuveen Investment Funds, Inc. was incorporated in the State of

Maryland on August 20, 1987. The Funds, were each organized as a series of predecessor trusts or corporations prior to that date.

Current Fiscal Period

: The end of the reporting period for the Funds is September 30, 2025, and the period covered by these Notes to Financial

Statements is the six months ended September 30, 2025 (the "current fiscal period").

Investment Adviser and Sub-Adviser:

The Funds' investment adviser, Nuveen Fund Advisors, LLC (the "Adviser"), is a subsidiary of Nuveen, LLC

("Nuveen"). Nuveen is the investment management arm of Teachers Insurance and Annuity Association of America (TIAA). The Adviser has overall

responsibility for management of the Funds, oversees the management of the Funds' portfolios, manages the Funds' business affairs and provides

certain clerical, bookkeeping and other administrative services, and, if necessary, asset allocation decisions. The Adviser has entered into sub-

advisory agreements with Nuveen Asset Management, LLC (the "Sub-Adviser"), a subsidiary of the Adviser, under which the Sub-Adviser manages

the investment portfolios of the Funds.

Share Classes and Sales Charges:

Class A Shares are generally sold with an up-front sales charge. Class A Shares purchases of $250,000 or

more are sold at net asset value ("NAV") without an up-front sales charge but may be subject to a contingent deferred sales charge ("CDSC") of

1% (0.70% for Limited Term and Short Term) if redeemed within eighteen months (twelve months for Short Term) of purchase. Class C Shares are

sold without an up-front sales charge. Class C Shares are subject to a CDSC of 1% if redeemed within twelve months of purchase. Class C Shares

automatically convert to Class A Shares eight years after purchase. Class R6 Shares and Class I Shares are sold without an up-front sales charge.

2. Significant Accounting Policies

The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America

("U.S. GAAP"), which may require the use of estimates made by management and the evaluation of subsequent events. Actual results may differ

from those estimates. The Funds are investment companies and follow the accounting guidance in the Financial Accounting Standards Board

("FASB") Accounting Standards Codification 946, Financial Services — Investment Companies. The NAV for financial reporting purposes may differ

from the NAV for processing security and common share transactions. The NAV for financial reporting purposes includes security and common share

transactions through the date of the report. Total return is computed based on the NAV used for processing security and common share transactions.

The following is a summary of the significant accounting policies consistently followed by the Funds.

Compensation:

Neither Trust pays compensation directly to those of its officers, all of whom receive remuneration for their services to each Trust

from the Adviser or its affiliates. The Funds' Board of Directors/Trustees (the ''Board'') has adopted a deferred compensation plan for independent

directors/trustees that enables directors/trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive

from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of

select Nuveen-advised funds.

Custodian Fee Credit:

As an alternative to overnight investments, each Fund has an arrangement with its custodian bank, State Street Bank and

Trust Company, (the "Custodian") whereby certain custodian fees and expenses are reduced by net credits earned on each Fund's cash on deposit

with the bank. Credits for cash balances may be offset by charges for any days on which a Fund overdraws its account at the Custodian. The amount

of custodian fee credit earned by a Fund is recognized on the Statement of Operations as a component of "Custodian expenses, net." During the

current fiscal period, the custodian fee credit earned by each Fund was as follows:

Distributions to Shareholders:

Distributions to shareholders are recorded on the ex-dividend date. The amount, character and timing of

distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

Fund

Gross

Custodian Fee

Credits

All-American

$

—

Intermediate Duration

—

Limited Term

—

Short Term

—

Indemnifications:

Under each Trust's organizational documents, its officers and directors/trustees are indemnified against certain liabilities arising

out of the performance of their duties to each Trust. In addition, in the normal course of business, each Trust enters into contracts that provide

general indemnifications to other parties. Each Trust's maximum exposure under these arrangements is unknown as this would involve future claims

that may be made against each Trust that have not yet occurred. However, each Trust has not had prior claims or losses pursuant to these contracts

and expects the risk of loss to be remote.

Investments and Investment Income:

Securities transactions are accounted for as of the trade date for financial reporting purposes. Realized gains

and losses on securities transactions are based upon the specific identification method. Investment Income, is comprised of interest income, which is

recorded on an accrual basis and includes accretion of discounts and amortization of premiums for financial reporting purposes. Investment income

also reflects payment-in-kind ("PIK") interest and paydown gains and losses, if any. PIK interest represents income received in the form of securities in

lieu of cash. Dividend income is recorded on the ex-dividend date.

Multiclass Operations and Allocations:

Income and expenses of the Funds that are not directly attributable to a specific class of shares are

prorated among the classes based on the relative value of the settled shares of each class. Expenses directly attributable to a class of shares are

recorded to the specific class. 12b-1 distribution and service fees are allocated on a class-specific basis.

Sub-transfer agent fees and similar fees, which are recognized as a component of "Shareholder servicing agent fees" on the Statement of

Operations, are not charged to Class R6 Shares and are prorated among the other classes based on their relative settled shares.

Realized and unrealized capital gains and losses of the Funds are prorated among the classes based on the relative net assets of each class.

Netting Agreements:

In the ordinary course of business, the Funds may enter into transactions subject to enforceable International Swaps and

Derivatives Association, Inc. (ISDA) master agreements or other similar arrangements ("netting agreements"). Generally, the right to offset in netting

agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when applicable, as well as any collateral

received or delivered to that counterparty based on the terms of the agreements. Generally, each Fund manages its cash collateral and securities

collateral on a counterparty basis. With respect to certain counterparties, in accordance with the terms of the netting agreements, collateral posted

to the Funds is held in a segregated account by the Funds' custodian and/or with respect to those amounts which can be sold or repledged, are

presented in the Funds' Portfolio of Investments or Statement of Assets and Liabilities.

The Funds' investments subject to netting agreements as of the end of the current fiscal period, if any, are further described later in these Notes to

Financial Statements.

Segment Reporting:

Each Fund represents a single operating segment. The officers of the Funds act as the chief operating decision maker

("CODM"). The CODM monitors the operating results of each Fund as a whole and is responsible for each Fund's long-term strategic asset allocation

in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a

team. The financial information in the form of the Fund's portfolio composition, total returns, expense ratios and changes in net assets (i.e., changes

in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess the segment's performance versus

the Fund's comparative benchmarks and to make resource allocation decisions for the Fund's single segment, is consistent with that presented within

the Fund's financial statements. Segment assets are reflected on the Statement of Assets and Liabilities as "total assets" and significant segment

revenues and expenses are listed on the Statement of Operations.

New Accounting Pronouncement

: In December 2023, the FASB issued Accounting Standard Update ("ASU") No. 2023-09, Income Taxes (Topic

740) Improvements to Income tax disclosures ("ASU 2023-09"). The primary purpose of the amendments within ASU 2023-09 is to enhance the

transparency and decision usefulness of income tax disclosures primarily related to the rate reconciliation table and income taxes paid information.

The amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Management is currently evaluating the

implications of these changes on the financial statements.

3. Investment Valuation and Fair Value Measurements

The Funds' investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Adviser, subject to

oversight of the Board. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly

transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy

which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value

measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability.

Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management's

assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best

information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit

spreads, etc.).

Level 3 – Prices are determined using significant unobservable inputs (including management's assumptions in determining the fair value of

investments).

A description of the valuation techniques applied to the Funds' major classifications of assets and liabilities measured at fair value follows:

#### Notes to Financial Statements
(continued)

Equity securities and exchange-traded funds listed or traded on a national market or exchange are valued based on their last reported sales price

or official closing price of such market or exchange on the valuation date. Foreign equity securities and registered investment companies that trade

on a foreign exchange are valued at the last reported sales price or official closing price on the principal exchange where traded, and converted to

U.S. dollars at the prevailing rates of exchange on the valuation date. For events affecting the value of foreign securities between the time when

the exchange on which they are traded closes and the time when the Funds' net assets are calculated, such securities will be valued at fair value in

accordance with procedures adopted by the Adviser, subject to the oversight of the Board. To the extent these securities are actively traded and no

valuation adjustments are applied, they are generally classified as Level 1. When valuation adjustments are applied to the most recent last sales price

or official closing price, these securities are generally classified as Level 2.

Prices of fixed-income securities are generally provided by pricing services approved by the Adviser, which is subject to review by the Adviser and

oversight of the Board. Pricing services establish a security's fair value using methods that may include consideration of the following: yields or

prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers,

evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor's credit

characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, pricing services may consider

information about a security, its issuer or market activity provided by the Adviser. These securities are generally classified as Level 2.

For any portfolio security or derivative for which market quotations are not readily available or for which the Adviser deems the valuations derived

using the valuation procedures described above not to reflect fair value, the Adviser will determine a fair value in good faith using alternative

procedures approved by the Adviser, subject to the oversight of the Board. As a general principle, the fair value of a security is the amount that

the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such

securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity

and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions

and other information and analysis, including the obligor's credit characteristics considered relevant. To the extent the inputs are observable and

timely, the values would be classified as Level 2; otherwise they would be classified as Level 3.

The following table summarizes the market value of the Funds' investments as of the end of the current fiscal period, based on the inputs used to

value them:

The Funds hold liabilities in floating rate obligations, where applicable, which are not reflected in the tables above. The fair values of the Funds'

liabilities for floating rate obligations approximate their liquidation values. Floating rate obligations are generally classified as Level 2 and further

described in these Notes to Financial Statements. The Funds, where applicable, have a receivable for the sale of their interest in Vistra Vision, which

is not reflected in the tables above. The carrying value of this receivable approximates fair value. The "Receivable for sale of Vistra Vision interest" is

generally classified as Level 2 and further described in these Notes to Financial Statements.

All-American

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Exchange-Traded Funds

$

17,451,000

$

–

$

–

$

17,451,000

Municipal Bonds

–

3,774,211,895

3,774,212,377

Variable Rate Senior Loan Interests

–

–

Total

$

17,451,000

$

3,774,211,895

$

514

$

3,791,663,409

Intermediate Duration

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Exchange-Traded Funds

$

8,725,500

$

–

$

–

$

8,725,500

Mortgage-Backed Securities

–

40,170,891

–

40,170,891

Municipal Bonds

–

7,984,295,569

–

7,984,295,569

Variable Rate Senior Loan Interests

–

–

1,941,619

1,941,619

Short-Term Investments:

Municipal Bonds

–

110,029,747

–

110,029,747

Total

$

8,725,500

$

8,134,496,207

$

1,941,619

$

8,145,163,326

Limited Term

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

4,598,356,078

$

–

$

4,598,356,078

Total

$

–

$

4,598,356,078

$

–

$

4,598,356,078

Short Term

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

446,647,670

$

–

$

446,647,670

Total

$

–

$

446,647,670

$

–

$

446,647,670

4. Portfolio Securities

Inverse Floating Rate Securities:

Each Fund is authorized to invest in inverse floating rate securities. An inverse floating rate security is created

by depositing a municipal bond (referred to as an "Underlying Bond"), typically with a fixed interest rate, into a special purpose tender option

rate certificates (referred to as "Floaters"), in face amounts equal to some fraction of the Underlying Bond's par amount or market value, and (b)

an inverse floating rate certificate (referred to as an "Inverse Floater") that represents all remaining or residual interest in the TOB Trust. Floaters

typically pay short-term tax-exempt interest rates to third parties who are also provided a right to tender their certificate and receive its par value,

which may be paid from the proceeds of a remarketing of the Floaters, by a loan to the TOB Trust from a third party liquidity provider ("Liquidity

Provider"), or by the sale of assets from the TOB Trust. The Inverse Floater is issued to a long term investor, such as one or more Funds. The income

received by the Inverse Floater holder varies inversely with the short-term rate paid to holders of the Floaters, and in most circumstances the Inverse

Floater holder bears substantially all of the Underlying Bond's downside investment risk and also benefits disproportionately from any potential

appreciation of the Underlying Bond's value. The value of an Inverse Floater will be more volatile than that of the Underlying Bond because the

interest rate is dependent on not only the fixed coupon rate of the Underlying Bond but also on the short-term interest paid on the Floaters, and

because the Inverse Floater essentially bears the risk of loss (and possible gain) of the greater face value of the Underlying Bond.

The Inverse Floater held by a Fund gives the Fund the right to (a) cause the holders of the Floaters to tender their certificates at par (or slightly more

than par in certain circumstances), and (b) have the trustee of the TOB Trust (the "Trustee") transfer the Underlying Bond held by the TOB Trust to

the Fund, thereby collapsing the TOB Trust.

or (b) transfers an Underlying Bond that it owns, or that it has purchased in a secondary market transaction for the purpose of creating an Inverse

Floater, to a TOB Trust created at its direction, and in return receives the Inverse Floater of the TOB Trust (referred to as a "self-deposited Inverse

Floater"). A Fund may also purchase an Inverse Floater in a secondary market transaction from a third party creator of the TOB Trust without first

owning the Underlying Bond (referred to as an "externally-deposited Inverse Floater").

An investment in a self-deposited Inverse Floater is accounted for as a "financing" transaction (i.e., a secured borrowing). For a self-deposited

Inverse Floater, the Underlying Bond deposited into the TOB Trust is identified in the Fund's Portfolio of Investments as "(UB) – Underlying bond of

an inverse floating rate trust reflected as a financing transaction," with the Fund recognizing as liabilities, labeled "Floating rate obligations" on the

Statement of Assets and Liabilities, (a) the liquidation value of Floaters issued by the TOB Trust, and (b) the amount of any borrowings by the TOB

Trust from a Liquidity Provider to enable the TOB Trust to purchase outstanding Floaters in lieu of a remarketing. In addition, the Fund recognizes in

"Investment Income" the entire earnings of the Underlying Bond, and recognizes (a) the interest paid to the holders of the Floaters or on the TOB

Trust's borrowings, and (b) other expenses related to remarketing, administration, trustee, liquidity and other services to a TOB Trust, as a component

of "Interest expense" on the Statement of Operations. Earnings due from the Underlying Bond and interest due to the holders of the Floaters as of

the end of the fiscal period are recognized as components of "Receivable for interest" and "Payable for interest" on the Statement of Assets and

Liabilities, respectively.

In contrast, an investment in an externally-deposited Inverse Floater is accounted for as a purchase of the Inverse Floater and is identified in the

Fund's Portfolio of Investments as "(IF) – Inverse floating rate investment." For an externally-deposited Inverse Floater, a Fund's Statement of Assets

and Liabilities recognizes the Inverse Floater and not the Underlying Bond as an asset, and the Fund does not recognize the Floaters, or any related

borrowings from a Liquidity Provider, as a liability. Additionally, the Fund reflects in "Investment Income" only the net amount of earnings on the

Inverse Floater (net of the interest paid to the holders of the Floaters or the Liquidity Provider as lender, and the expenses of the Trust), and does not

show the amount of that interest paid or the expenses of the TOB Trust as described above as interest expense on the Statement of Operations.

Fees paid upon the creation of a TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters are recognized as part of

the cost basis of the Inverse Floater and are capitalized over the term of the TOB Trust.

As of the end of the fiscal period, the aggregate value of Floaters issued by each Fund's TOB Trust for self-deposited Inverse Floaters and externally-

deposited Inverse Floaters was as follows:

During the current fiscal period, the average amount of Floaters (including any borrowings from a Liquidity Provider) outstanding, and the average

annual interest rates and fees related to self-deposited Inverse Floaters, were as follows:

Fund

Floating Rate

Obligations: Self-

Deposited

Inverse Floaters

Floating Rate

Obligations:

Externally-Deposited

Inverse Floaters

Total

All-American

$

122,385,000

$

—

$

122,385,000

Intermediate Duration

—

—

—

Limited Term

—

—

—

Short Term

—

—

—

(continued)

TOB Trusts are supported by a liquidity facility provided by a Liquidity Provider pursuant to which the Liquidity Provider agrees, in the event that

Floaters are (a) tendered to the Trustee for remarketing and the remarketing does not occur, or (b) subject to mandatory tender pursuant to the

terms of the TOB Trust agreement, to either purchase Floaters or to provide the Trustee with an advance from a loan facility to fund the purchase of

Floaters by the TOB Trust. In certain circumstances, the Liquidity Provider may otherwise elect to have the Trustee sell the Underlying Bond to retire

the Floaters that were tendered and not remarketed prior to providing such a loan. In these circumstances, the Liquidity Provider remains obligated

to provide a loan to the extent that the proceeds of the sale of the Underlying Bond are not sufficient to pay the purchase price of the Floaters.

The size of the commitment under the loan facility for a given TOB Trust is at least equal to the balance of that TOB Trust's outstanding Floaters plus

any accrued interest. In consideration of the loan facility, fee schedules are in place and are charged by the Liquidity Provider(s). Any loans made

by the Liquidity Provider will be secured by the purchased Floaters held by the TOB Trust. Interest paid on any outstanding loan balances will be

effectively borne by the Fund that owns the Inverse Floaters of the TOB Trust that has incurred the borrowing and may be at a rate that is greater

than the rate that would have been paid had the Floaters been successfully remarketed.

As described above, any amounts outstanding under a liquidity facility are recognized as a component of "Floating rate obligations" on the

Statement of Assets and Liabilities by the Fund holding the corresponding Inverse Floaters issued by the borrowing TOB Trust. As of the end of the

fiscal period, there were no loans outstanding under any such facility.

Each Fund may also enter into shortfall and forbearance agreements (sometimes referred to as a "recourse arrangement") (TOB Trusts involving

such agreements are referred to herein as "Recourse Trusts"), under which a Fund agrees to reimburse the Liquidity Provider for the Trust's Floaters,

in certain circumstances, for the amount (if any) by which the liquidation value of the Underlying Bond held by the TOB Trust may fall short of the

sum of the liquidation value of the Floaters issued by the TOB Trust plus any amounts borrowed by the TOB Trust from the Liquidity Provider, plus

any shortfalls in interest cash flows (sometimes referred to as "shortfall payments"). Under these agreements, a Fund's potential exposure to losses

related to or on an Inverse Floater may increase beyond the value of the Inverse Floater as a Fund may potentially be liable to fulfill all amounts

owed to holders of the Floaters or the Liquidity Provider. Any such shortfall amount in the aggregate is recognized as "Unrealized depreciation on

Recourse Trusts" on the Statement of Assets and Liabilities.

As of the end of the current fiscal period, the Funds maximum exposure to the Floaters issued by Recourse Trusts for self-deposited Inverse Floaters

and externally-deposited Inverse Floaters was as follows:

Zero Coupon Securities:

A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the

holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the

security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices

of securities that pay interest periodically.

Purchases and Sales:

Long-term purchases and sales during the current fiscal period were as follows:

Fund

Average Floating

Rate Obligations

Outstanding

Average Annual

Interest Rate

And Fees

All-American

$

167,069,315

2.96 %

Intermediate Duration

—

—

Limited Term

—

—

Short Term

—

—

Fund

Maximum Exposure

to Recourse Trusts:

Self-Deposited

Inverse Floaters

Maximum Exposure

to Recourse Trusts:

Externally-Deposited

Inverse Floaters

Total

All-American

$

122,385,000

$

—

$

122,385,000

Intermediate Duration

—

—

—

Limited Term

—

—

—

Short Term

—

—

—

Fund

Non-U.S.

Government

Purchases

U.S.

Government

Purchases

Non-U.S.

Government Sales

and Maturities

U.S.

Government

Sales

All-American

$

1,040,475,113

$

49,677,088

$

1,148,983,995

$

50,000,000

Intermediate Duration

1,507,654,363

4,418,440

1,058,857,820

65,191

Limited Term

754,733,936

—

818,890,681

—

Short Term

131,559,609

—

94,466,296

—

The Funds may purchase securities on a when-issued or delayed-delivery basis. Securities purchased on a when-issued or delayed-delivery basis may

have extended settlement periods; interest income is not accrued until settlement date. Any securities so purchased are subject to market fluctuation

during this period. If a Fund has outstanding when-issued/delayed-delivery purchases commitments as of the end of the current fiscal period, such

amounts are recognized on the Statement of Assets and Liabilities.

Sale of Vistra Vision interests:

On September 18, 2024, Vistra Corp. ("Vistra") and Nuveen agreed to terms for the sale of the Vistra Vision interest.

In exchange for its interest in Vistra Vision, the Funds agreed to receive proceeds from the sale over a series of payments from Vistra through

December 31, 2026. The resulting receivables have been discounted using an effective interest rate of 6.18%. The receivable, net of discount,

and related transaction costs are recognized as "Receivable for sale of Vistra Vision interest" and "Payable for Vistra Vision sale transactions costs,"

respectively, on the Statement of Assets and Liabilities.

5. Derivative Investments

Each Fund is authorized to invest in certain derivative instruments. As defined by U.S. GAAP, a derivative is a financial instrument whose value is

derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variables. Investments in derivatives

as of the end of and/or during the current fiscal period, if any, are included within the Statement of Assets and Liabilities and the Statement of

Operations, respectively.

Futures Contracts:

During the current fiscal period, All-American managed the duration of its portfolio by shorting interest rate futures contracts.

A futures contract is an agreement between two parties to buy and sell a financial instrument for a set price on a future date. Upon execution of a

futures contract, the Fund is obligated to deposit cash or eligible securities, also known as "initial margin," into an account at its clearing broker

equal to a specified percentage of the contract amount. Securities deposited for initial margin, if any, are identified in the Portfolio of Investments

and cash deposited for initial margin, if any, is reflected on the Statement of Assets and Liabilities.

During the period the futures contract is open, changes in the market value of the contract are recognized as an unrealized gain or loss by "marking-

to-market" on a daily basis. The Fund and the clearing broker are obligated to settle monies on a daily basis representing the changes in the value

of the contracts. These daily cash settlements are known as "variation margin" and is recognized on the Statement of Assets and Liabilities as a

receivable or payable for variation margin on futures contracts. When the contract is closed or expired, the Fund records a realized gain or loss

equal to the difference between the value of the contract on the closing date and value of the contract when originally entered into. The net realized

gain or loss and the change in unrealized appreciation (depreciation) on futures contracts held during the period is included on the Statement of

Operations.

Risks of investments in futures contracts include the possible adverse movement in the price of the securities or indices underlying the contracts, the

possibility that there may not be a liquid secondary market for the contracts and/or that a change in the value of the contract may not correlate with

a change in the value of the underlying securities or indices.

The average notional amount of futures contracts outstanding during the current fiscal period was as follows:

During the current fiscal period, the effect of derivative contracts on the Funds' Statement of Operations was as follows:

Market and Counterparty Credit Risk:

In the normal course of business each Fund may invest in financial instruments and enter into financial

transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform

(counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets,

which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap

transactions, when applicable. The extent of each Fund's exposure to counterparty credit risk in respect to these financial assets approximates their

carrying value as recorded on the Statement of Assets and Liabilities.

Fund

Average Notional Amount of Futures

Contracts Outstanding

\*

All-American

$–\*\*

\*

The average notional amount is calculated based on the absolute aggregate notional amount of contracts outstanding at the beginning of

the current fiscal period and at the end of each fiscal quarter within the current fiscal period.

\*\*

The Fund invested in futures contracts during the current fiscal period. However, the Fund did not hold any such positions at the beginning

of the fiscal period or at the end of each fiscal quarter within the current fiscal period and therefore are not included as part of this

calculation.

Derivative Instrument

Risk Exposure

Net Realized Gain

(Loss)

Change in

Unrealized

Appreciation

(Depreciation)

All-American

Futures contracts

Interest rate

$

665,499

$

–

(continued)

Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial

resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may

be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal

to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have

instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a

pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by

at least the pre-determined threshold amount.

6. Fund Shares

Transactions in Fund shares during the current and prior fiscal period were as follows:

Six Months Ended

9/30/25

Year Ended

3/31/25

All-American

Shares

Value

Shares

Value

Subscriptions:

Class A

14,210,707

$138,955,177

27,065,412

$275,543,562

Class A - automatic conversion of Class C

18,395

180,258

22,648

231,220

Class C

494,732

4,833,315

1,064,843

10,849,623

Class R6

2,779,764

27,323,775

4,467,976

45,570,171

Class I

33,948,124

333,906,612

45,536,377

465,143,834

Total subscriptions

51,451,722

505,199,137

78,157,256

797,338,410

Reinvestments of distributions:

Class A

3,364,206

32,945,838

6,634,435

67,369,635

Class C

156,335

1,531,014

339,725

3,449,481

Class R6

191,510

1,885,000

349,075

3,561,863

Class I

3,335,637

32,798,869

6,516,561

66,443,918

Total reinvestments of distributions

7,047,688

69,160,721

13,839,796

140,824,897

Redemptions:

Class A

(25,472,462)

(249,192,619)

(51,321,621)

(521,779,549)

Class C

(1,903,413)

(18,612,201)

(4,710,751)

(47,899,211)

Class C - automatic conversion to Class A

(18,401)

(180,258)

(22,651)

(231,220)

Class R6

(3,337,215)

(32,786,893)

(5,098,971)

(52,021,380)

Class I

(44,438,118)

(436,018,365)

(65,387,885)

(666,554,745)

Total redemptions

(75,169,609)

(736,790,336)

(126,541,879)

(1,288,486,105)

Net increase (decrease)

(16,670,199)

$(162,430,478)

(34,544,827)

$(350,322,798)

Six Months Ended

9/30/25

Year Ended

3/31/25

Intermediate Duration

Shares

Value

Shares

Value

Subscriptions:

Class A

8,794,408

$76,433,647

13,669,407

$120,899,844

Class A - automatic conversion of Class C

3,784

4,223

37,298

Class C

259,144

2,252,757

588,891

5,228,313

Class I

200,592,232

1,743,354,179

210,209,139

1,866,321,721

Total subscriptions

209,646,219

1,822,044,367

224,471,660

1,992,487,176

Reinvestments of distributions:

Class A

1,103,042

9,601,223

2,169,785

19,177,870

Class C

33,363

290,491

70,805

626,096

Class I

10,585,160

92,424,335

18,928,356

167,828,860

Total reinvestments of distributions

11,721,565

102,316,049

21,168,946

187,632,826

Redemptions:

Class A

(12,346,755)

(107,129,097)

(19,917,630)

(176,151,754)

Class C

(561,965)

(4,883,781)

(1,385,606)

(12,272,296)

Class C - automatic conversion to Class A

(435) (3,784)

(4,219)

(37,298)

Class I

(153,669,386)

(1,336,068,532)

(184,597,812)

(1,636,845,925)

Total redemptions

(166,578,541)

(1,448,085,194)

(205,905,267)

(1,825,307,273)

Net increase (decrease)

54,789,243

$476,275,222

39,735,339

$354,812,729

7. Income Tax Information

Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and

net capital gains to shareholders and otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated

investment companies. Therefore, no federal income tax provision is required.

Each Fund intends to satisfy conditions that will enable interest from municipal securities, which is exempt from regular federal income tax, to retain

such tax-exempt status when distributed to shareholders of the Funds. Net realized capital gains and ordinary income distributions paid by the

Funds are subject to federal taxation.

Each Fund files income tax returns in U.S. federal and applicable state and local jurisdictions. A Fund's federal income tax returns are generally

subject to examination for a period of three fiscal years after being filed. State and local tax returns may be subject to examination for an additional

period of time depending on the jurisdiction. Management has analyzed each Fund's tax positions taken for all open tax years and has concluded

that no provision for income tax is required in the Fund's financial statements.

Six Months Ended

9/30/25

Year Ended

3/31/25

Limited Term

Shares

Value

Shares

Value

Subscriptions:

Class A

3,304,179

$35,900,403

7,166,218

$78,488,579

Class A - automatic conversion of Class C

725

7,862

12,635

138,977

Class C

43,045

468,474

134,396

1,462,823

Class I

45,845,408

496,385,695

94,351,024

1,028,957,334

Total subscriptions

49,193,357

532,762,434

101,664,273

1,109,047,713

Reinvestments of distributions:

Class A

830,879

9,052,983

1,707,797

18,689,391

Class C

15,468

167,787

38,121

415,361

Class I

4,278,295

46,434,993

8,588,672

93,591,573

Total reinvestments of distributions

5,124,642

55,655,763

10,334,590

112,696,325

Redemptions:

Class A

(6,808,790)

(74,069,044)

(20,853,814)

(228,249,071)

Class C

(277,356)

(3,006,419)

(1,254,630)

(13,689,773)

Class C - automatic conversion to Class A

(728) (7,862)

(12,689)

(138,977)

Class I

(52,574,667)

(568,371,111)

(132,399,838)

(1,443,012,942)

Total redemptions

(59,661,541)

(645,454,436)

(154,520,971)

(1,685,090,763)

Net increase (decrease)

(5,343,542)

$(57,036,239)

(42,522,108)

$(463,346,725)

Six Months Ended

9/30/25

Year Ended

3/31/25

Short Term

Shares

Value

Shares

Value

Subscriptions:

Class A

3,488,382

$34,338,975

5,116,424

$50,356,150

Class C

142,605

1,395,912

174,234

1,705,425

Class I

7,705,116

76,039,836

9,820,001

96,603,776

Total subscriptions

11,336,103

111,774,723

15,110,659

148,665,351

Reinvestments of distributions:

Class A

253,775

2,500,119

463,905

4,561,207

Class C

5,217

51,186

11,613

113,723

Class I

294,168

2,902,762

546,577

5,381,717

Total reinvestments of distributions

553,160

5,454,067

1,022,095

10,056,647

Redemptions:

Class A

(2,729,616)

(26,852,021)

(7,664,895)

(75,334,245)

Class C

(162,401)

(1,593,395)

(478,065)

(4,680,899)

Class I

(5,781,753)

(57,011,686)

(16,709,914)

(164,367,768)

Total redemptions

(8,673,770)

(85,457,102)

(24,852,874)

(244,382,912)

Net increase (decrease)

3,215,493

$31,771,688

(8,720,120)

$(85,660,914)

(continued)

As of the end of the reporting period, the aggregate cost and the net unrealized appreciation/(depreciation) of all investments for federal income tax

purposes were as follows:

For purposes of this disclosure, tax cost generally includes the cost of portfolio investments as well as up-front fees or premiums exchanged on

derivatives and any amounts unrealized for income statement reporting but realized income and/or capital gains for tax reporting, if applicable.

As of prior fiscal period end, the components of accumulated earnings on a tax basis were as follows:

As of prior fiscal period end, the Funds had capital loss carryforwards, which will not expire:

8. Management Fees and Other Transactions with Affiliates

Management Fees:

Each Fund's management fee compensates the Adviser for the overall investment advisory and administrative services and

general office facilities. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser.

Each Fund's management fee consists of two components – a fund-level fee, based only on the amount of assets within each individual Fund, and

a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables each Fund's

shareholders to benefit from growth in the assets within their respective Fund as well as from growth in the amount of complex-wide assets managed

by the Adviser.

The annual fund-level fee, payable monthly, for each Fund is calculated according to the following schedule:

Fund

Tax Cost

Gross Unrealized

Appreciation

Gross

Unrealized

(Depreciation)

Net

Unrealized

Appreciation

(Depreciation)

All-American

$

3,670,839,820

$

96,903,866

$

(98,465,298)

$

(1,561,432)

Intermediate Duration

8,364,723,566

116,664,025

(336,224,265)

(219,560,240)

Limited Term

4,663,519,008

56,276,835

(121,439,765)

(65,162,930)

Short Term

443,371,518

3,908,785

(632,633)

3,276,152

Fund

Undistributed

Tax-Exempt

Income

Undistributed

Ordinary

Income

Undistributed

Long-Term

Capital Gains

Unrealized

Appreciation

(Depreciation)

Capital Loss

Carryforwards

Late-Year Loss

Deferrals

Other

Book-to-Tax

Differences

Total

All-American

$

20,998,360

$

841,130

$

—

$

751,346

$

(1,073,867,302)

$

—

$

(13,884,140)

$

(1,065,160,606)

Intermediate

Duration

30,763,855

2,073,818

—

(327,893,317)

(173,863,747)

—

(20,822,840)

(489,742,231)

Limited Term

23,824,107

2,078,471

—

(128,399,615)

(94,190,323)

—

(11,510,857)

(208,198,217)

Short Term

2,380,903

14,802

—

1,159,384

(18,374,352)

—

(1,084,801)

(15,904,064)

Undistributed tax-exempt income (on a tax basis) has not been reduced for the dividends declared during the period March 1, 2025 through March 31, 2025

and paid on April 1, 2025.

Fund

Short-Term

Long-Term

Total

All-American

$

534,814,943

$

539,052,359

$

1,073,867,302

Intermediate Duration

135,477,649

38,386,098

173,863,747

Limited Term

92,243,546

1,946,777

94,190,323

Short Term

2,491,880

15,882,472

18,374,352

A portion of All-American's capital loss carryforward is subject to an annual limitation under the Internal Revenue Code and related regulations.

Average Daily Net Assets

All-

American

Intermediate

Duration

Limited

Term

Short

Term

For the first $125 million

0.3000 %

0.3000 %

0.2500 %

0.2500 %

For the next $125 million

0.2875 0.2875 0.2375 0.2375 For the next $250 million

0.2750 0.2750 0.2250 0.2250 For the next $500 million

0.2625 0.2625 0.2125 0.2125 For the next $1 billion

0.2500 0.2500 0.2000 0.2000 For the next $3 billion

0.2250 0.2250 0.1750 0.1750 For the next $5 billion

0.2000 0.2000 0.1500 0.1500 For net assets over $10 billion

0.1875 0.1875 0.1375 0.1375 193

The annual complex-level fee, payable monthly, for each Fund is calculated according to the following schedule:

\* The complex-level fee is calculated based upon the aggregate daily "eligible assets" of all Nuveen-branded closed-end funds and Nuveen branded open-end funds ("Nuveen Mutual

Funds"). Except as described below, eligible assets include the assets of all Nuveen-branded closed-end funds and Nuveen Mutual Funds organized in the United States. Eligible assets do

not include the net assets of: Nuveen fund-of-funds, Nuveen money market funds, Nuveen index funds, Nuveen Large Cap Responsible Equity Fund or Nuveen Life Large Cap Responsible

Equity Fund. In addition, eligible assets include a fixed percentage of the aggregate net assets of the active equity and fixed income Nuveen Mutual Funds advised by the Adviser's affiliate,

Teachers Advisors, LLC (except those identified above). The fixed percentage will increase annually until May 1, 2033, at which time eligible assets will include all of the aggregate net assets

of the active equity and fixed income Nuveen Mutual Funds advised by Teachers Advisors, LLC (except those identified above). Eligible assets include closed-end fund assets managed by

the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes the closed-end funds' use of preferred stock and borrowings and certain investments

in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively

financed by the trust's issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining eligible assets in

certain circumstances.

As of the end of the current fiscal period, the complex-level fee rate for the Fund was as follows:

The Adviser has agreed to waive fees and/or reimburse expenses ("Expense Cap") of the following Funds so that the total annual Fund operating

expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and

disposing of portfolio securities and extraordinary expenses) do not exceed the average daily net assets of any class of Fund shares in the amounts

and for the time periods stated in the following table. The expense limitation expiring on July 31, 2027, may be terminated or modified prior to the

date only with the approval of the Board.

Distribution and Service Fees:

Each Fund has adopted a distribution and service plan under rule 12b-1 under the 1940 Act. Class A Shares incur

a 0.20% annual 12b-1 service fee. Class C Shares incur a 0.75% annual 12b-1 distribution fee and a 0.25% annual 12b-1 service fee. Class R6 and

Class I Shares are not subject to 12b-1 distribution or service fees. The fees under this plan compensate Nuveen Securities, LLC, (the "Distributor"), a

wholly-owned subsidiary of Nuveen, for services provided and expenses incurred in distributing shares of the Funds and establishing and maintaining

shareholder accounts.

Other Transactions with Affiliates:

The Funds are permitted to purchase or sell securities from or to certain other funds or accounts managed

by the Sub-Adviser or by an affiliate of the Adviser (each an, "Affiliated Entity") under specified conditions outlined in procedures adopted by the

Board ("cross-trade"). These procedures have been designed to ensure that any cross-trade of securities by the Fund from or to an Affiliated Entity

by virtue of having a common investment adviser (or affiliated investment adviser), common officer and/or common trustee complies with Rule 17a-7

under the 1940 Act. These transactions are effected at the current market price (as provided by an independent pricing service) without incurring

broker commissions. During the current fiscal period, the Funds engaged in the following security transactions with affiliated entities:

Complex-Level Asset Breakpoint Level\*

Complex-Level Fee

For the first $124.3 billion

0.1600 %

For the next $75.7 billion

0.1350 For the next $200 billion

0.1325 For eligible assets over $400 billion

0.1300 Fund

Complex-Level Fee

All-American

0.1564 %

Intermediate Duration

0.1564 Limited Term

0.1564 Short Term

0.1564 Fund

Temporary

Expense Cap

Temporary

Expense Cap

Expiration Date

Permanent

Expense Cap

Intermediate Duration

N/A

N/A

0.75%

Short Term

0.45%

7/31/2027

N/A

N/A - Not Applicable.

(continued)

During the current fiscal period, the Distributor, collected sales charges on purchases of Class A Shares, the majority of which were paid out as

concessions to financial intermediaries as follows:

The Distributor also received 12b-1 service fees on Class A Shares, substantially all of which were paid to compensate financial intermediaries for

providing services to shareholders relating to their investments.

During the current fiscal period, the Distributor compensated financial intermediaries directly with commission advances at the time of purchase as

follows:

To compensate for commissions advanced to financial intermediaries, all 12b-1 service and distribution fees collected on Class C Shares during the

first year following a purchase are retained by the Distributor. During the current fiscal period, the Distributor retained such 12b-1 fees as follows:

The remaining 12b-1 fees charged to each Fund were paid to compensate financial intermediaries for providing services to shareholders relating to

their investments.

The Distributor also collected and retained CDSC on share redemptions during the current fiscal period, as follows:

Fund

Purchases

Sales

Realized

Gain (Loss)

All-American

$

—

$

—

$

—

Intermediate Duration

—

—

—

Limited Term

2,178,176

—

—

Short Term

—

3,332,922

(206) Fund

Sales Charges

Collected

Paid to Financial

Intermediaries

All-American

$

851,983

$

831,849

Intermediate Duration

342,028

335,527

Limited Term

78,539

74,148

Short Term

48,908

47,109

Fund

Commission

Advances

All-American

$

725,147

Intermediate Duration

326,057

Limited Term

60,870

Short Term

42,699

Fund

12b-1 Fees

Retained

All-American

$

31,352

Intermediate Duration

12,539

Limited Term

3,206

Short Term

2,704

Fund

CDSC

Retained

All-American

$

99,540

Intermediate Duration

17,838

Limited Term

Short Term

—

Affiliated Investments:

Investments in other investment companies advised by the Adviser are deemed to be "affiliated investments". A complete

schedule of the portfolio holdings for each of the affiliated investments is filed with the SEC for the first and third quarters of each fiscal year on Form

N-PORT and is available on the SEC's website at www.sec.gov. A copy of the annual report, semi-annual report and financial statements is available

for each of the affiliated investments at https://www.nuveen.com/en-us/mutual-funds/prospectuses, or upon request by calling (800) 257-8787.

Information regarding transactions with affiliated investments is as follows:

9. Commitments and Contingencies

In the normal course of business, each Fund enters into a variety of agreements that may expose the Funds to some risk of loss. These could include

recourse arrangements for certain TOB Trusts, which are described elsewhere in these Notes to Financial Statements. The risk of future loss arising

from such agreements, while not quantifiable, is expected to be remote. As of the end of the fiscal period, the Funds did not have any unfunded

commitments.

From time to time, the Funds may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the

enforcement of the Funds' rights under contracts. As of the end of the fiscal period, the Funds are not subject to any material legal proceedings.

10. Borrowing Arrangements

Line of Credit:

The Funds, along with certain funds managed by the Adviser or by an affiliate of the Adviser ("Participating Funds"), have

established a 364-day, $2.7 billion standby credit facility with a group of lenders, under which the Participating Funds may borrow for temporary

purposes (other than on-going leveraging for investment purposes). Each Participating Fund is allocated a designated proportion of the facility's

capacity (and its associated costs, as described below) based upon a multi-factor assessment of the likelihood and frequency of its need to draw

on the facility, the size of the Fund and its anticipated draws, and the potential importance of such draws to the operations and well-being of the

Fund, relative to those of the other Funds. A Fund may effect draws on the facility in excess of its designated capacity if and to the extent that other

Participating Funds have undrawn capacity. The credit facility expires in June 2026, unless extended or renewed.

The credit facility has the following terms: 0.15% per annum on unused commitment amounts and a drawn interest rate equal to the higher

of (a) OBFR (Overnight Bank Funding Rate) plus 1.20% per annum or (b) the Fed Funds Effective Rate plus 1.20% per annum on amounts

borrowed. Interest expense incurred by the Participating Funds, when applicable, is recognized as a component of "Interest expense" on the

Statement of Operations. Participating Funds paid administration, legal and arrangement fees, which are recognized as a component of "Interest

expense" on the Statement of Operations, and along with commitment fees, have been allocated among such Participating Funds based upon the

relative proportions of the facility's aggregate capacity reserved for them and other factors deemed relevant by the Adviser and the Board of each

Participating Fund.

During the current period, the following Funds utilized this facility. The Funds' maximum outstanding balance during the utilization period was as

follows:

Issue

Value at

3/31/25

Purchases

Cost

Sales

Proceeds

Realized

Gain (Loss)

Change in

Unrealized

Appreciation

(Depreciation)

Shares at

9/30/25

Value at

9/30/25

Dividend

Income

All-American

Exchange-Traded Funds

Nuveen Municipal Income ETF

$17,376,590

$–

$–

$–

$74,410

700,000

$17,451,000

$339,990

Total

$17,376,590

$–

$–

$–

$74,410

700,000

$17,451,000

$339,990

Intermediate Duration

Exchange-Traded Funds

Nuveen Municipal Income ETF

$1,861,777

$6,708,750

$–

$–

$154,973

350,000

$8,725,500

$126,573

Total

$1,861,777

$6,708,750

$–

$–

$154,973

350,000

$8,725,500

$126,573

Fund

Maximum

Outstanding

Balance

All-American

$

15,100,000

Intermediate Duration

13,600,000

Limited Term

32,600,000

Short Term

13,404,626

(continued)

During each Fund's utilization period(s) during the current fiscal period, the average daily balance outstanding and average annual interest rate on

the Borrowings were as follows:

Borrowings outstanding as of the end of the fiscal period, if any, are recognized as "Borrowings" on the Statement of Assets and Liabilities.

Fund

Utilization

Period (Days

Outstanding)

Average

Daily Balance

Outstanding

Average Annual

Interest Rate

All-American

$

8,570,875

5.52 %

Intermediate Duration

8,862,246

5.45 Limited Term

8,661,565

5.50 Short Term

6,944,039

5.53 ------

**Item 8.** **Changes in and Disagreements with Accountants for Open-End Management Investment Companies.** <br>

Not applicable.

------

**Item 9.** **Proxy Disclosures for Open-End Management Investment Companies.** <br>

Not applicable.

------

**Item 10.** **Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.** <br>

The aggregate remuneration paid to the directors/trustees (all of whom are independent) by the Fund is reported as "Directors/Trustees fees" on the Statement of Operations under Item 7 of this Form N-CSR.

The Fund does not pay any remuneration to its officers. The aggregate remuneration paid to Nuveen Fund Advisors, LLC, the Fund's investment adviser and an affiliate of the Fund's officers, is reported as "Management fees" on the Statement of Operations under Item 7 of this Form N-CSR.

------

## Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

#### Nuveen All-American Municipal Bond Fund

#### Nuveen Intermediate Duration Municipal Bond Fund

#### Nuveen Limited Term Municipal Bond Fund

#### Nuveen Short Term Municipal Bond Fund

#### The Approval Process
At meetings held on April 28 and 29, 2025 (the "Meeting"), the Board of Trustees of Nuveen Municipal Trust ("Municipal Trust") and the Board of Directors of Nuveen Investment Funds, Inc. ("NIF") (collectively, the "Board" and each Trustee or Director, as applicable, a "Board Member") approved, for each applicable series of Municipal Trust and NIF, the renewal of the investment management agreement (each an "Investment Management Agreement") with Nuveen Fund Advisors, LLC ("NFAL" or the "Adviser"). Similarly, for each respective series, the Board approved the renewal of the sub-advisory agreement (each a "Sub-Advisory Agreement") with Nuveen Asset Management, LLC (the "Sub-Adviser"). NFAL is a subsidiary of Nuveen, LLC, the investment management arm of Teachers Insurance and Annuity Association of America ("TIAA"). The Sub-Adviser is also an affiliate of the Adviser. The Board Members are not "interested persons" (as defined under the Investment Company Act of 1940 (the "1940 Act")) and, therefore, the Board is deemed to be comprised of all disinterested Board Members. References to the Board and the Board Members are interchangeable. Below is a summary of the annual review process the Board undertook related to its most recent renewal of the Investment Management Agreement and Sub-Advisory Agreement with respect to each series covered by this report (the "Funds").

In accordance with applicable law, following up to an initial two-year period, the Board considers the renewal of each Investment Management Agreement and Sub-Advisory Agreement on behalf of the applicable Fund on an annual basis. The Investment Management Agreements and Sub-Advisory Agreements are collectively referred to as the "Advisory Agreements," and the Adviser and the Sub-Adviser are collectively, the "Fund Advisers" and each a "Fund Adviser."

To reach their determination, the Board Members considered the review of the Advisory Agreements to be an ongoing process. The Board Members employed the accumulated information, knowledge and experience they had gained during their tenure as disinterested Board Members on the respective boards of the funds in the Nuveen complex and their committees in overseeing the applicable funds and working with the respective investment advisers and sub-advisers in their review of the advisory agreements for the fund complex. The fund complex consists of the group of funds advised by NFAL, including the Funds, and the group of funds advised by Teachers Advisors, LLC ("TAL" and collectively, the "Nuveen funds" or the "funds"). The Board and its committees meet regularly throughout the year and at these meetings, the Board Members received materials and discussed information covering a wide range of topics pertinent to the annual consideration of the renewal of the Advisory Agreements. Such topics include, but are not limited to, the investment performance of the funds over various periods; investment oversight matters; economic, market and regulatory developments; any significant organizational or other developments impacting a Fund Adviser and its strategic plans for its business; product initiatives for various funds; fund expenses; compliance, regulatory and risk management matters; trading practices, including soft dollar arrangements and reimbursements to the funds; the liquidity and derivatives risk management programs; management of distributions; valuation of securities; payments to financial intermediaries, including 12b-1 expenses (as applicable); and securities lending (as applicable). The Board also seeks to meet at its regular quarterly meetings with members of senior management to discuss various topics, including market conditions, industry developments and any significant developments or strategic plans for a Fund Adviser, if any.

To help with the review of performance, the Board and/or its committees periodically received and discussed presentations from member(s) of investment teams throughout the year, culminating in an annual performance review of the Nuveen funds at the Board's meeting held on February 25-26, 2025 (the "February Meeting"). The presentations, discussions and meetings during the year provide a means for the Board Members to evaluate and consider the level, breadth and quality of services provided by the Fund Advisers and any changes to such services over time in light of new or modified regulatory requirements, changes to market conditions or other factors.

In addition to the materials and discussions that occurred at prior meetings, the Board, through its independent legal counsel, requested and received extensive materials and information prepared specifically for its review of the Advisory Agreements. During the year, management worked with an ad hoc committee established by the Board to help enhance and streamline the materials provided in connection with the annual review of the Advisory Agreements. The materials provided at the Meeting and/or prior meetings covered a wide range of matters including, but not limited to, a description of the nature, extent and quality of services provided by the Fund Advisers; a review of the Sub-Adviser and/or applicable investment team; an analysis of fund performance with a focus on funds considered to have met certain challenged performance measurements; an analysis of the fees and expense ratios of the funds with a focus on funds considered to have certain expense characteristics; a list of management fee and sub-advisory fee schedules; an analysis of advisory fees compared to fees assessed to other types of clients; a review of temporary and/or permanent expense caps and fee waivers (as applicable); a description of portfolio manager compensation; certain profitability and/or financial data; and a description of indirect benefits received by the Fund Advisers as a result of their relationships with the funds. The Board also considered information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, comparing fee and expense levels of each respective Fund to those of a peer universe and to a group of peers selected by Broadridge.

The information prepared specifically for the annual review supplemented the information provided to the Board and its committees and the evaluations of the Nuveen funds by the Board and its committees during the year. The Board's review of the Advisory Agreements is based on all the information provided to the Board and its committees over time. The performance, fee and expense data and other information provided by a Fund Adviser, Broadridge or other service providers were not independently verified by the Board Members.

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract. (continued)

As part of their review, the Board Members and independent legal counsel met in executive session on April 9, 2025 to review and discuss materials provided in connection with their annual review of the Advisory Agreements. After reviewing this information, the Board Members requested, directly or through independent legal counsel, additional information, and the Board subsequently reviewed and discussed the responses to these follow-up questions and requests. The Board Members and independent legal counsel met again in executive session on April 17, 2025 (together with the April 9, 2025 executive session, the "Executive Sessions") to discuss the responses to the initial supplemental information request and, following their review of the data provided, requested management present certain additional information at the Meeting. In addition to the Executive Sessions, the Board Members met in additional executive sessions prior to and during the Meeting. During the Meeting, the Board Members considered the responses, invited representatives of management to provide additional information and determined that the information provided (whether oral or written) was responsive to their requests.

The Board Members were advised by independent legal counsel during the annual review process as well as throughout the year, including meeting in executive sessions with such counsel at which no representatives of management were present. In connection with their annual review, the Board Members also received a memorandum from independent legal counsel outlining their fiduciary duties and legal standards in reviewing the Advisory Agreements, including guidance from court cases evaluating advisory fees.

After the discussions and with the background and knowledge described above, the Board Members approved the continuation of the Advisory Agreements on behalf of the applicable Funds for an additional one-year period. The Board did not identify any single factor as all-important or controlling, but rather each decision reflected the comprehensive consideration of all the information (written or oral) provided to the Board and its committees throughout the year as well as the materials prepared specifically in connection with the annual review process. The contractual arrangements may reflect the results of prior year(s) of review, negotiation and information provided in connection with the Board's annual review of the Funds' advisory arrangements and oversight of the Funds. Each Board Member may have attributed different levels of importance to the various factors and information considered in connection with the annual review process and may have placed different emphasis on the relevant information year to year in light of, among other things, changing market and economic conditions. A summary of the principal factors and information, but not all the factors, the Board considered in deciding to renew the Advisory Agreements is set forth below.

A. Nature, Extent and Quality of Services

In evaluating the renewal of the Advisory Agreements, the Board Members received and considered information regarding the nature, extent and quality of the applicable Fund Adviser's services provided to each respective Fund. With this approach, they considered the roles of the Adviser and the Sub-Adviser in providing services to the Funds.

The Board considered that the Adviser provides a wide array of management, oversight and other services to manage and operate the Funds. The Board considered the Adviser's and its affiliates' dedication of resources, time, people and capital as well as consistent program of improvement and innovation aimed at keeping the Nuveen fund complex relevant and attractive for existing and new investors and meeting the needs of an increasingly complex regulatory environment. Among the information provided in connection with the review of services at the Meeting and/or prior meetings, the Board considered a description of the organizational changes at the Adviser during the year, the management teams that comprise the various support and investment functions for the funds and the background of certain personnel who support the funds. The Board considered the significant resources, both financial and personnel, the Adviser and its affiliates had committed over the past several years in working to bring the asset management businesses of Nuveen and TIAA under one centralized umbrella and to consolidate their respective fund families to the benefit of the funds through, among other things, enhanced operating efficiencies, centralized investment leadership and a centralized shared resources and support model. To help ensure the continuation of services, the Board considered, among other things, management's emphasis on succession planning and key person risk evaluation pursuant to which certain management team(s) meet annually to conduct a comprehensive review of successors to key positions, to develop and monitor corporate-wide standards and procedures in seeking to help ensure the firm may continue to operate in the event of business disruptions, and to review staffing and compensation levels to help remain competitive with peers in the industry. The Board considered a description of the application of business continuity plans and the periodic testing and review of such plans. As noted below, the Board also considered certain financial data of the Adviser and TIAA in assessing the financial stability and condition of the Adviser to provide a high level of quality services to the Funds.

In its review, the Board considered that the Funds operated in a highly regulated industry and the scope and complexity of the services and resources that the Adviser and its affiliates must provide to manage and operate the Funds have expanded over the years due to regulatory, market and other developments. Such services included maintaining and monitoring the Nuveen funds' compliance programs, risk management programs, liquidity risk management programs, derivatives risk management programs and cybersecurity programs. The Board and/or its Compliance, Risk Management and Regulatory Oversight Committee received reports regarding the funds' compliance policies and procedures and matters undertaken thereunder as well as other compliance initiatives on a regular basis.

In considering the breadth and quality of services the Adviser and its various teams provide, the Board considered that the Adviser provides investment advisory services. With respect to the Funds, such Funds utilize the Sub-Adviser to manage the portfolios of the Funds subject to the supervision of the Adviser. Accordingly, the Board considered that the Adviser and its affiliates, among other things, oversee and review the performance of the Sub-Adviser and its investment team(s); evaluate Fund performance and market conditions; evaluate investment strategies and recommend changes thereto; oversee trade execution and, as applicable, securities lending; evaluate investment risks; and manage valuation matters. As noted below, the Board also considered the Nuveen funds' performance over various time periods throughout the year.

In addition to the portfolio management services provided to the Funds (including indirectly by overseeing the Sub-Adviser), the Board considered the extensive compliance, regulatory, administrative and other services the Adviser and its various teams or affiliates provide to manage and operate the applicable funds, including but not limited to: distribution management services pursuant to which management seeks to implement distribution policies and set distribution levels consistent with each fund's product design and positioning; compliance services including establishing and maintaining broad-based compliance policies across the Nuveen fund complex, evaluating the compliance programs of various fund services providers, conducting ongoing risk assessments and testing, monitoring portfolio compliance with investment and regulatory requirements and

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providing a comprehensive compliance training program; providing regulatory advocacy services, including submitting comments on regulatory proposals and monitoring regulatory developments that may impact the fund(s); providing support to the Board and its committees throughout the year, including providing reports on a wide range of topics relating to the operations and management of the funds, helping to refine the materials provided to the Board and/or its committees and providing educational sessions on various topics; establishing and reviewing the services provided by other fund service providers (such as a fund's custodian, accountant, and transfer agent); providing legal support services; and evaluating trade allocation and execution.

Aside from the services provided, the Board considered the financial resources of the Adviser and/or its affiliates and their willingness to make investments to support the funds. The Board considered the funds' access to a seed capital budget provided by the Adviser and/or its affiliates to support new or existing funds and/or facilitate changes for a respective fund. The Board considered the benefits to shareholders of investing in a Fund that is a part of a large fund complex with a variety of investment disciplines, capabilities, and expertise. The Board considered the overall reputation and capabilities of the Adviser and its affiliates and the Adviser's continuing commitment to provide high quality services.

In its review, the Board also considered the significant risks borne by the Adviser and its affiliates in connection with their services to the Nuveen funds, including entrepreneurial risks in sponsoring and supporting new funds and smaller funds and ongoing risks with managing the Funds, such as investment, operational, reputational, regulatory, compliance and litigation risks.

The Board considered the division of responsibilities between the Adviser and the Sub-Adviser and considered that the Sub-Adviser and its investment personnel, as noted, generally are responsible for the management of the respective Fund's portfolio or a portion thereof under the oversight of the Adviser and the Board. The Board considered an analysis of the Sub-Adviser provided by the Adviser which included, among other things, a summary of changes (if any) in the leadership teams and/or portfolio manager teams; the performance of the funds sub-advised by the Sub-Adviser over various periods of time that met certain performance screening measurements; and data reflecting product changes (if any) taken with respect to certain funds. The Board considered that the Adviser recommended the renewal of the Sub-Advisory Agreements.

Based on its review, the Board determined, in the exercise of its reasonable business judgment, that it was satisfied with the nature, extent and quality of services provided to the respective Funds under each applicable Advisory Agreement.

B. The Investment Performance of the Funds and Fund Advisers

In evaluating the quality of the services provided by the Fund Advisers, the Board also considered a variety of investment performance data of the Funds. In leading up to the annual review, the Board and/or its Investment Committee considered, among other things, Fund performance over the quarter, one-, three- and five-year periods ending December 31, 2024 on an absolute basis and as compared to the performance of comparable peers (the "Performance Peer Group") and to a benchmark for the prescribed periods. For Funds with multiple share classes, the performance data was based on Class I shares; however, the performance of other share classes was expected to be substantially similar as they invest in the same portfolio of securities and differences in performance among the classes of a fund generally may be principally attributed to the variations in the expense structures of the share classes. Prior to the Meeting, the Board also received updated Fund performance over the quarter, one-, three- and five-year periods ended March 31, 2025 on an absolute basis and in comparison to the Performance Peer Group and a benchmark for the prescribed periods. In its review of relative performance, the Board considered a Fund's performance relative to its Performance Peer Group, among other things, by evaluating its quartile ranking with the 1st quartile representing the top performing funds within the Performance Peer Group and the 4th quartile representing the lowest performing funds.

The Board took into account the performance data, presentations and discussions (written and oral) that were provided at the Meeting and in prior meetings over time in evaluating fund performance, including particular focus on management's analysis of the performance of funds that met certain screening measurements as determined pursuant to a methodology approved by the Board or additional measurements as determined by management's investment analysts. As various Nuveen funds have modified their portfolio teams and/or made significant changes to their portfolio strategies over time, the Board reviewed, among other things, certain tracking performance data over specific periods comparing performance before and after such changes.

In evaluating performance, the Board considered some of the limitations of the performance data. The Board considered, among other things, that performance data reflects performance over a specified period which may differ significantly depending on the ending dates selected, particularly during periods of market volatility. Further, the Board considered that regardless of the performance period reviewed by the Board, shareholders may evaluate performance based on their own respective holding periods which may differ from the performance periods reviewed by the Board and lead to differing results. With respect to comparative performance, the Board considered that differing investment objectives, investment strategies, dates of inception, type and cost of leverage (if any), asset size and other factors between the Performance Peer Group and the respective Fund necessarily lead to differences in performance results. Similarly, differences in the investment objective(s) and strategies of a Fund and its benchmark (particularly an actively managed fund that does not directly follow an index) as well as the costs of operating a Fund would contribute to differences in performance results. To assist the Board in its review of the comparability of the relative performance, management generally has ranked the relevancy of the Performance Peer Groups to the applicable funds as low, medium or high.

The Board evaluated performance in light of various relevant factors which may include, among other things, general market conditions, issuer-specific information, asset class information, leverage and fund cash flows. The Board considered that long-term performance could be impacted by even one period of significant outperformance or underperformance and that a single investment theme could disproportionately affect performance. Further, the Board considered that market and economic conditions may significantly impact a Fund's performance, particularly over shorter periods, and such performance may be more reflective of such economic or market events and not necessarily reflective of management skill. Although the Board reviews short-, intermediate- and longer-term performance data, the Board considered that longer periods of performance may reflect full market cycles.

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract. (continued)

In their review from year to year, the Board Members consider and may place different emphasis on the relevant information in light of changing circumstances in market and economic conditions. In evaluating performance, the Board focused particular attention on funds with less favorable performance records. However, depending on the facts and circumstances, including any differences between the respective fund and its benchmark and/or Performance Peer Group, the Board may be satisfied with a fund's performance notwithstanding that its performance may be below that of its benchmark and/or peer group for certain periods. With respect to any funds for which the Board has identified performance issues, the Board seeks to monitor such funds more closely until performance improves, discuss with the Adviser the reasons for such results, consider whether any steps are necessary or appropriate to address such issues, discuss and evaluate the potential consequences of such steps and review the results of any steps undertaken.

The performance determinations with respect to each Fund are summarized below:

• For Nuveen All-American Municipal Bond Fund, the Board considered that although the Fund's performance was below the performance of its benchmark and the Fund ranked in the fourth quartile of its Performance Peer Group for the three- and five-year periods ended December 31, 2024, the Fund outperformed its benchmark and ranked in the second quartile of its Performance Peer Group for the one-year period ended December 31, 2024. On the basis of the Board's ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund's investment objective(s) and management's discussion of performance, the Board concluded that the Fund's performance supported renewal of the Advisory Agreements.

• For Nuveen Intermediate Duration Municipal Bond Fund, the Board considered that although the Fund's performance was below the performance of its benchmark for the three-year period ended December 31, 2024, the Fund outperformed its benchmark for the one-year period ended December 31, 2024 and matched the performance of its benchmark for the five-year period ended December 31, 2024. In addition, the Fund ranked in the third quartile of its Performance Peer Group for the one-, three- and five-year periods ended December 31, 2024. On the basis of the Board's ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund's investment objective(s) and management's discussion of performance, the Board concluded that the Fund's performance supported renewal of the Advisory Agreements.

• For Nuveen Limited Term Municipal Bond Fund, the Board considered that although the Fund's performance was below the performance of its benchmark for the one- and three-year periods ended December 31, 2024, the Fund outperformed its benchmark for the five-year period ended December 31, 2024. In addition, although the Fund ranked in the fourth quartile of its Performance Peer Group for the one-year period ended December 31, 2024, the Fund ranked in the third quartile for the three-year period and second quartile for the five-year period ended December 31, 2024. On the basis of the Board's ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund's investment objective(s) and management's discussion of performance, the Board concluded that the Fund's performance supported renewal of the Advisory Agreements.

• For Nuveen Short Term Municipal Bond Fund, the Board considered that although the Fund's performance was below the performance of its benchmark for the three- and five-year periods ended December 31, 2024, the Fund outperformed its benchmark for the one-year period ended December 31, 2024. In addition, although the Fund ranked in the fourth quartile of its Performance Peer Group for the five-year period ended December 31, 2024, the Fund ranked in the third quartile of its Performance Peer Group for the one- and three-year periods ended December 31, 2024. On the basis of the Board's ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund's investment objective(s) and management's discussion of performance, the Board concluded that the Fund's performance supported renewal of the Advisory Agreements.

C. Fees, Expenses and Profitability

**1.** **Fees and Expenses** 

As part of the annual review, the Board Members considered, among other things, the management fee schedules and the expense reimbursements and/or fee waivers agreed to by the Adviser for the respective Fund (if any). In addition to the management fee arrangements, the Board Members considered a Fund's operating expense ratio as it more directly reflected a shareholder's total costs in investing in the respective Fund.

In its review, the Board considered that the management fees of the Funds were generally comprised of two components, a fund-level component and a complex-level component, each with its own breakpoint schedule. The Board considered that in 2024, the Board approved a revised complex-wide breakpoint schedule which simplified and reduced the complex-level fee rates at various thresholds and expanded the eligible funds whose assets would be included in calculating the complex-level fee, effective May 1, 2024. The Board considered that the complex-level component is intended to be an efficient mechanism designed to help share cost efficiencies with shareholders as the complex-wide assets grow.

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The Board also considered comparative fee and expense information prepared by an independent third-party provider of fund data. More specifically, the Board Members generally reviewed, among other things, each Fund's management fee rates and net total expense ratio in relation to similar data for a comparable universe of peers (the "Expense Universe") and a more focused group of comparable peers (the "Expense Group") established by Broadridge. With respect to the Broadridge comparative expense data, Broadridge applied Class I shares of the Funds. In its review of such comparative fee and expense data, the Board considered, among other things, a Fund's quartile rankings of its contractual management fee rate, actual management fee rate and net total expense ratio within its Expense Universe and Expense Group (as applicable) with the first quartile representing the range of funds with the lowest management fee rate or net total expense ratio, respectively, and the fourth quartile representing the range of funds with the highest management fee rate or net total expense ratio, respectively. In their review, the Board Members considered, in particular, each fund with a net total expense ratio meeting certain expense screening criteria adopted by the Board when compared to its Expense Universe and Expense Group (if any) and management's commentary as to the factors contributing to each such fund's relative net total expense ratio. The Board also considered, in relevant part, a fund's management fee in light of its performance history with particular focus on any fund identified as having a higher management fee and/or expense ratio compared to peers coupled with experiencing a period of challenged performance.

In their review, the Board Members considered the methodology Broadridge employed to establish its Expense Universe and Expense Group (as applicable). The Board further considered that differences between the applicable Fund and its respective Expense Universe and/ or Expense Group, as well as changes to the composition of the Expense Universe and/or Expense Group from year to year, may limit some of the value of the comparative data. The Board Members also considered that it can be difficult to compare management fees among funds with peers as there are variations in the services that are included for the fees paid. The Board Members took these limitations and differences into account when reviewing comparative peer data.

With respect to the Sub-Adviser, the Board also considered, among other things, the sub-advisory fee schedule paid to the Sub-Adviser in light of the sub-advisory services provided to the respective Fund. In its review, the Board considered that the compensation paid to the Sub-Adviser is the responsibility of the Adviser, not the Funds.

The Board's considerations regarding the comparative fee data for each Fund are set forth below:

• For Nuveen All-American Municipal Bond Fund, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio each ranked in the second quartile of its Expense Group. In addition, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio ranked in the second quartile, third quartile and second quartile of its Expense Universe, respectively. Further, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio were each below the Expense Group median. The Fund's contractual management fee rate and net total expense ratio were also below the Expense Universe median, and the Fund's actual management fee rate was slightly above (within 5 basis points) the Expense Universe median.

• For Nuveen Intermediate Duration Municipal Bond Fund, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio ranked in the fourth quartile, fourth quartile and third quartile of its Expense Group, respectively. In addition, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio ranked in the second quartile, fourth quartile and third quartile of its Expense Universe, respectively. Further, although the Fund's contractual management fee rate was above the Expense Group median, the Fund's actual management fee rate and net total expense ratio were each slightly above (within 5 basis points) the Expense Group median. The Fund's contractual management fee rate was below the Expense Universe median, and the Fund's actual management fee rate and net total expense ratio were each slightly above (approximately 5 basis points or within 5 basis points) the Expense Universe median.

• For Nuveen Limited Term Municipal Bond Fund, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio ranked in the third quartile, third quartile and second quartile of its Expense Group, respectively. In addition, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio ranked in the third quartile, fourth quartile and third quartile of its Expense Universe, respectively. Further, the Fund's contractual management fee rate and actual management fee rate were each slightly above (within 5 basis points) the Expense Group median, and the Fund's net total expense ratio matched the Expense Group median. Although the Fund's actual management fee rate and net total expense ratio were each above the Expense Universe median, the Fund's contractual management fee rate was slightly above (within 5 basis points) the Expense Universe median.

• For Nuveen Short Term Municipal Bond Fund, although the Fund's actual management fee rate and net total expense ratio ranked in the fourth quartile of its Expense Group, the Fund's contractual management fee rate ranked in the second quartile of its Expense Group. In addition, although the Fund's actual management fee rate and net total expense ratio ranked in the fourth quartile of its Expense Universe, the Fund's contractual management fee rate ranked in the third quartile of its Expense Universe. Further, although the Fund's actual management fee rate and net total expense ratio were each above the Expense Group median, the Fund's contractual management fee rate matched the Expense Group median. Although the Fund's actual management fee rate and net total expense ratio were also above the Expense Universe median, the Fund's contractual management fee rate was slightly above (within 5 basis points) the Expense Universe median. The Board also considered, among other things, that the temporary expense cap which was implemented effective May 1, 2024 was not fully reflected in the Fund's expenses for its fiscal year which ends as of March 31st, and the Adviser agreed to extend such temporary expense cap for the Fund to July 31, 2027.

Based on its review of the information provided, the Board determined that each Fund's management fees (as applicable) to a Fund Adviser were reasonable in light of the nature, extent and quality of services provided to the Fund.

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Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract. (continued)

**2.** **Comparisons with the Fees of Other Clients** 

In evaluating the appropriateness of fees, the Board also considered that the Adviser, Sub-Adviser and/or their affiliate(s) provide investment management services to other types of clients which may include, among others: separately managed accounts ("SMAs"), retail managed accounts, foreign funds (UCITS), other investment companies (as sub-advisers), limited partnerships and collective investment trusts. The Board considered certain fee data for these other types of clients managed in a similar manner to certain of the funds compared to the management fee of the applicable fund. The Board considered a description of various factors which contribute to the differences in the management fee rates of the funds compared to those charged to these other types of clients which limited the comparability of the data. In this regard, the Board considered that the differences in, among other things, the breadth of services provided by the Adviser and its affiliates to the funds compared to those provided to other clients; the expenses the Adviser and its affiliates incur in launching, operating and supporting a fund; the support services provided to shareholders; the extensive regulatory, disclosure and governance requirements applicable to funds; the establishment and maintenance of servicing relationships with various service providers for the funds; the manner of managing such assets; investment policies; investor profiles; and account sizes all may contribute to the variations in relative fee rates. Differences in the level of advisory services required for passively managed funds also contribute to differences in the management fee levels of such funds compared to actively managed funds. In addition, differences in the client base; governing bodies, regulatory and legal requirements; distribution; jurisdiction and operational complexities also would contribute to variations in management fees assessed the funds compared to foreign fund clients. Further, differences in the level of advisory and non-advisory services required and risk incurred when serving as a sub-adviser to other investment companies compared to serving as the Adviser to a Nuveen fund contribute to differences in the fees assessed. In this regard, the Board further considered the significant entrepreneurial, legal and regulatory risks that the Adviser incurs in sponsoring and managing the Funds. As a general matter, higher fee levels reflect higher levels of service provided by the Adviser, increased investment management complexity, greater product management requirements, and higher levels of business risk or some combination of these factors. The Board further considered that the Sub-Adviser's fee is essentially for portfolio management services and therefore more comparable to the fees received for retail wrap accounts and other external sub-advisory mandates. The Board concluded that the varying levels of fees were reasonable given the foregoing.

**3.** **Profitability of the Fund Advisers** 

In considering the costs of services to be provided and profits to be realized by the Adviser (which encompassed its affiliated sub-advisers) from its relationship with the Funds, the Board Members considered a variety of estimated profitability data from various perspectives including, among other things, (a) historical pre-distribution and post-distribution margins over specified periods for the Adviser's services to the applicable funds; (b) certain profitability data on behalf of the Adviser attributable to servicing all applicable funds for 2024 and 2023; (c) certain profitability data of both the Adviser and TAL (as an adviser for other Nuveen funds) on a combined basis derived from types of funds in the aggregate (i.e., from closed-end funds, exchange-traded funds, interval funds and open-end funds) for 2024 and 2023; and (d) certain profitability data of both the Adviser and TAL (as an adviser for other Nuveen funds) on a combined basis by asset grouping of Nuveen funds in the aggregate (i.e., from equity, fund of funds, index, municipal bond and taxable fixed income funds). In addition, the Board considered profitability data at the per fund level for the respective adviser.

In reviewing the profitability data, the Board Members considered the subjective nature of calculating profitability as the information is not audited and is necessarily dependent on cost allocation methodologies to allocate expenses throughout the complex and among the various advisory products. The Board reviewed, among other things, a description of the cost allocation methodology employed to develop the profitability data. However, the Board Members considered that given there is no single universally recognized expense allocation methodology, other reasonable and valid allocation methodologies could be employed and could lead to significantly different profit and loss results and therefore developing profitability data is difficult, particularly on a per fund level.

Further, in considering the comparative margin data with peers, the Board Members considered the limitations of the comparative data given that peer data is not generally public and the calculation of profitability is subjective and affected by numerous factors (such as types of funds a peer manages, its business mix, its cost of capital, the numerous assumptions underlying the methodology used to allocate expenses and other factors) that can have a significant impact on the results. Given that the peer profitability data may reflect the different business mix of the respective peer firm, the Board also considered the pre- and post-distribution margins of Nuveen, LLC for each of the calendar years from 2020 through 2024.

Aside from the foregoing profitability data, the Board also considered, among other things, the audited statutory-basis financial statements of TIAA as of December 31, 2024 and 2023 and the related statutory-basis statements of operations, of changes in capital and contingency reserves and of cash flows for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. The Board considered the benefit of an investment adviser and its parent with significant resources, particularly during periods of market volatility. The Board also considered the investments the Adviser, its parent and/or other affiliates made into their business.

In evaluating the reasonableness of the compensation, the Board Members also considered the indirect benefits the Adviser or Sub-Adviser received that were directly attributable to the management of the applicable funds as discussed in further detail below. Based on its review, the Board was satisfied that the Adviser's (together with its affiliated sub-advisers) level of profitability from its relationship with the applicable Fund was not unreasonable in light of the nature, extent and quality of services provided.

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D. Economies of Scale and Whether Fee Levels Reflect These Economies of Scale

The Board considered whether there have been economies of scale with respect to the management of the funds, whether these economies of scale have been appropriately shared with the funds and whether there is potential for realization of further economies of scale. Although the Board considered that economies of scale are difficult to measure with any precision and the rates at which certain expenses are incurred may not decline with a rise in assets, the Board considered that there are a variety of methods that may be employed to help share the benefits of economies of scale, including, among other things, through the use of breakpoints in the management fee schedule, fee waivers and/or expense limitations, the pricing of funds at scale at inception and investments in the Adviser's business which can enhance the services provided to the funds for the fees paid. The Board considered such factors that were applicable to the particular Fund's advisory fee structure.

As noted above, the Board considered that the management fee of the Adviser for the Funds generally was comprised of a fund-level component and a complex-level component each with its own breakpoint schedule. The Board also approved a revised complex-wide breakpoint schedule in 2024 which reduced the complex-level fee rates at various thresholds and expanded the assets included when calculating the complex-level fee. With this structure, the Board considered that the complex-level breakpoint schedule was designed to deliver the benefits of economies of scale to shareholders when the assets of the eligible participating funds in the complex pass certain thresholds even if the assets of a particular fund are unchanged or have declined, and the fund-level breakpoint schedules were designed to share economies of scale with shareholders if the particular fund grows. The Board reviewed the fund-level and complex-level fee schedules.

In addition to the fund-level and complex-level fee schedules, the Board Members considered the temporary and/or permanent expense caps applicable to a Fund (if any). The Board considered that such waivers and reimbursements are another means for potential economies of scale to be shared with shareholders of such funds and can provide a protection from an increase in expenses if the assets of the applicable funds decline. The Board Members also considered the continued reinvestment in Nuveen's business to enhance its capabilities and services to the benefit of its various clients. The Board considered that many of these investments were not specific to individual Nuveen funds, but rather initiatives from which the family of funds as a whole may benefit. The Board further considered that the scope of the services of the Adviser and its affiliates have expanded over time without raising advisory fees to the funds, and this was also a means of sharing economies of scale with the funds and their shareholders. The Board considered the Adviser's and/or its affiliates' ongoing efforts to streamline the product line-up, among other things, to create more scaled funds which may help improve both expense and trading economies for participating funds.

Based on its review, the Board was satisfied that the current fee arrangements together with the reinvestment in management's business appropriately shared any economies of scale with shareholders.

E. Indirect Benefits

The Board Members received and considered information regarding various indirect benefits the respective Fund Adviser or its affiliates may receive as a result of their relationship with the funds. These benefits included, among other things, economies of scale to the extent the Adviser or its affiliates share investment resources and/or personnel with other clients of the Adviser. Certain funds may also be used as investment options for other products or businesses offered by the Adviser and/or its affiliates, such as variable products, fund of funds and 529 education savings plans, and affiliates of the Adviser may serve as sub-adviser to various funds in which case all advisory and sub-advisory fees generated by such funds stay within Nuveen.

Further, the funds may pay the Adviser and/or its affiliates for other services, such as distribution. In this regard, the Board Members considered that an affiliate of the Adviser serves as principal underwriter providing distribution and/or shareholder services to the open-end funds for which it may be compensated. To the extent an open-end fund pays 12b-1 fees, the Board Members considered that some of those fees may be retained by the Adviser's affiliate. In addition, the Board considered that an affiliate of the Adviser received compensation in 2024 for serving as an underwriter on shelf offerings of existing closed-end funds and reviewed the amounts paid for such services in 2024 and 2023.

In addition, the Board Members considered that the Adviser and Sub-Adviser may utilize soft dollar brokerage arrangements attributable to the respective fund(s) to obtain research and other services for any or all of their clients, although the Board Members also considered reimbursements of such costs by the Adviser and/or Sub-Adviser.

The Adviser and its affiliates may also benefit from the advisory relationships with the funds in the fund complex to the extent this relationship results in potential investors viewing the TIAA group of companies as a leading retirement plan provider in the academic and nonprofit market and a single source for all their financial service needs. The Adviser and/or its affiliates may further benefit to the extent that they have pricing or other information regarding vendors the funds utilize in establishing arrangements with such vendors for other products.

Based on its review, the Board concluded that any indirect benefits received by a Fund Adviser as a result of its relationship with the Funds were reasonable in light of the services provided.

F. Other Considerations

The Board Members did not identify any single factor discussed previously as all-important or controlling. The Board Members concluded that the terms of each Advisory Agreement were reasonable, that the respective Fund Adviser's fees were reasonable in light of the services provided to each Fund and that the Advisory Agreements be renewed for an additional one-year period.

#### 7

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**Item 12.** **Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.** <br>

Not applicable to open-end investment companies.

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**Item 13.** **Portfolio Managers of Closed-End Management Investment Companies.** <br>

Not applicable to open-end investment companies.

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**Item 14.** **Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.** <br>

Not applicable to open-end investment companies.

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**Item 15.** **Submission of Matters to a Vote of Security Holders.** <br>

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's Board of Trustees implemented after the registrant last provided disclosure in response to this Item.

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**Item 16.** **Controls and Procedures.** <br>

(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 Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act") (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 period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

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**Item 17.** **Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.** <br>

(a) Not applicable to open-end investment companies.

(b) Not applicable to open-end investment companies.

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**Item 18.** **Recovery of Erroneously Awarded Compensation.** <br>

(a) Not applicable.

(b) Not applicable.

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**Item 19.** **Exhibits.** <br>

(a)(1) Not applicable to this filing.

(a)(2) Not applicable to this filing.

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| | |
|:---|:---|
| (a)(3) | [Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.](d10247dex99cert.htm)  |

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(a)(4) Not applicable.

(a)(5) Not applicable.

(b) [Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002 is attached hereto.](d10247dex99906cert.htm)

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#### 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.

<u>Nuveen Investment Funds, Inc.</u> 

---

| | | |
|:---|:---|:---|
| Date: December 4, 2025 | By: | /s/ Jordan M. Farris |
|  |  | Jordan M. Farris |
|  |  | Chief Administrative Officer |

---

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.

---

| | | |
|:---|:---|:---|
| Date: December 4, 2025 | By: | /s/ Jordan M. Farris |
|  |  | Jordan M. Farris |
|  |  | Chief Administrative Officer |
|  |  | (principal executive officer) |
| Date: December 4, 2025 | By: | /s/ Marc Cardella |
|  |  | Marc Cardella |
|  |  | Vice President and Controller |
|  |  | (principal financial officer) |

---

## Ex-99.Cert

**Exhibit 19(a)(3)** 

**<u>CERTIFICATION</u>**

I, Jordan M. Farris, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen Investment Funds,
Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

------

---

| | | |
|:---|:---|:---|
| Date: December 4, 2025 | By: | /s/ Jordan M. Farris |
|  |  | Jordan M. Farris |
|  |  | Chief Administrative Officer |
|  |  | (principal executive officer) |

---

------

**<u>CERTIFICATION</u>**

I, Marc Cardella, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen Investment Funds,
Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

------

---

| | | |
|:---|:---|:---|
| Date: December 4, 2025 | By: | /s/ Marc Cardella |
|  |  | Marc Cardella |
|  |  | Vice President and Controller |
|  |  | (principal financial officer) |

---

## Exhibit 99.906

**Exhibit 19(b)** 

**<u>CERTIFICATION</u>**

**Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002** 

**(Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code)** 

In connection with the semi-annual report of Nuveen Investment Funds, Inc. (the "Registrant") on Form N-CSR for the period ended September 30, 2025, as filed with the Securities and Exchange Commission (the "Report"), the undersigned officers of the Registrant certify that, to the best of each such officer's knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and
results of operations of the Registrant.

---

| | | |
|:---|:---|:---|
| Date: December 4, 2025 | By: | /s/ Jordan M. Farris |
|  |  | Jordan M. Farris |
|  |  | Chief Administrative Officer |
|  |  | (principal executive officer) |
| Date: December 4, 2025 | By: | /s/ Marc Cardella |
|  |  | Marc Cardella |
|  |  | Vice President and Controller |
|  |  | (principal financial officer) |

---