# EDGAR Filing Document

**Accession Number:** 0000821404
**File Stem:** 0001104659-25-071832
**Filing Date:** 2025-7
**Character Count:** 252963
**Document Hash:** 3598a0e1456f2bc0fb22cf68e5892288
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-071832.hdr.sgml**: 20250730

**ACCESSION NUMBER**: 0001104659-25-071832

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 16

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250730

**DATE AS OF CHANGE**: 20250729

**EFFECTIVENESS DATE**: 20250730

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** VANGUARD NEW JERSEY TAX-FREE FUNDS
- **CENTRAL INDEX KEY:** 0000821404

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05340
- **FILM NUMBER:** 251163227

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482
- **BUSINESS PHONE:** 6106691000

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 2600
- **STREET 2:** V26
- **CITY:** VALLEY FORGE
- **STATE:** PA
- **ZIP:** 19482

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD NEW JERSEY TAX FREE FUNDS
- **DATE OF NAME CHANGE:** 20011121

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** VANGUARD NEW JERSEY TAX FREE FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Vanguard New Jersey Long-Term Tax-Exempt Fund (Series ID: S000002901)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000007964 | Investor Shares | VNJTX           |
| C000007965 | Admiral Shares  | VNJUX           |

?xml version='1.0' encoding='ASCII'? Consolidated ssr-output-EDGAR XBRL File

**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**: 811-05340**

---

| | |
|:---|:---|
| Name of Registrant: | **Vanguard New Jersey Tax-Free Funds** |
| Address of Registrant: | **P.O. Box 2600** |
|  | **Valley Forge, PA 19482** |

---

---

| | |
|:---|:---|
| Name and address of agent for service: | **Tonya T. Robinson, Esquire** |
|  | **P.O. Box 876** |
|  | **Valley Forge, PA 19482** |

---

Registrant's telephone number, including area code: **(610) 669-1000**

Date of fiscal year end: November 30

Date of reporting period: December 1, 2024—May 31, 2025

**Item 1: Reports to Shareholders.**

**TABLE OF CONTENTS**

---

| |
|:---|
|  [New Jersey Long-Term Tax-Exempt Fund](#classname52bc6b4a-2f3c-4c91-add5-49a7aaa8df94)<br> **[Investor Shares - VNJTX](#classname52bc6b4a-2f3c-4c91-add5-49a7aaa8df94)**  |
|  [New Jersey Long-Term Tax-Exempt Fund](#classname2180e104-2733-45c4-a001-248cfde9e79f)<br> **[Admiral™ Shares - VNJUX](#classname2180e104-2733-45c4-a001-248cfde9e79f)**  |

---

# Vanguard New Jersey Long-Term Tax-Exempt Fund
![Image](tm2517409d3_tsrimg001.jpg)

# Investor Shares (VNJTX)

#### Semi-Annual Shareholder Report \| May 31, 2025
This semi-annual shareholder report contains important information about Vanguard New Jersey Long-Term Tax-Exempt Fund (the "Fund") for the period of December 1, 2024, to May 31, 2025. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447.

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

---

| | | |
|:---|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Investor Shares | $7 | 0.15%<sup>Footnote Reference1</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>1</sup> | &nbsp;&nbsp;Annualized. |

---

## Fund Statistics (as of May 31, 2025)

---

| | |
|:---|:---|
| Fund Net Assets (in millions) | $2583 |
| Number of Portfolio Holdings | 926 |
| Portfolio Turnover Rate | 15% |

---

## Distribution by Stated Maturity % of Net Assets (as of May 31, 2025)

---

| | |
|:---|:---|
| Less than 1 Year | 6.5% |
| 1 to 3 Years | 3.8% |
| 3 to 5 Years | 3.3% |
| 5 to 10 Years | 12.5% |
| 10 to 20 Years | 37.1% |
| 20 to 30 Years | 31.5% |
| Greater than 30 Years | 5.1% |
| Other Assets and Liabilities—Net | 0.2% |

---

#### This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.

## Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

**Connect with Vanguard<sup>®</sup>** • vanguard.com

**Fund Information** • 800-662-7447

**Direct Investor Account Services** • 800-662-2739

**Text Telephone for People Who Are Deaf or Hard of Hearing** •

800-749-7273© 2025 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR14

# Vanguard New Jersey Long-Term Tax-Exempt Fund
![Image](tm2517409d3_tsrimg001.jpg)

# Admiral™ Shares (VNJUX)

#### Semi-Annual Shareholder Report \| May 31, 2025
This semi-annual shareholder report contains important information about Vanguard New Jersey Long-Term Tax-Exempt Fund (the "Fund") for the period of December 1, 2024, to May 31, 2025. You can find additional information about the Fund at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature. You can also request this information by contacting us at 800-662-7447.

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

---

| | | |
|:---|:---|:---|
| **Share Class Name** | **Costs of a $10,000 investment** | **Costs paid as a percentage of a $10,000 investment** |
| Admiral Shares | $4 | 0.09%<sup>Footnote Reference1</sup> |

---

---

| | |
|:---|:---|
| Footnote | Description |
| &nbsp;&nbsp;Footnote<sup>1</sup> | &nbsp;&nbsp;Annualized. |

---

## Fund Statistics (as of May 31, 2025)

---

| | |
|:---|:---|
| Fund Net Assets (in millions) | $2583 |
| Number of Portfolio Holdings | 926 |
| Portfolio Turnover Rate | 15% |

---

## Distribution by Stated Maturity % of Net Assets (as of May 31, 2025)

---

| | |
|:---|:---|
| Less than 1 Year | 6.5% |
| 1 to 3 Years | 3.8% |
| 3 to 5 Years | 3.3% |
| 5 to 10 Years | 12.5% |
| 10 to 20 Years | 37.1% |
| 20 to 30 Years | 31.5% |
| Greater than 30 Years | 5.1% |
| Other Assets and Liabilities—Net | 0.2% |

---

#### This table reflects the Fund's investments, including short-term investments, derivatives and other assets and liabilities.

## Where can I find additional information about the Fund?
Additional information about the Fund, including its prospectus, financial information, holdings, and proxy voting information is available at https://personal1.vanguard.com/ngf-next-gen-form-webapp/fund-literature.

**Connect with Vanguard<sup>®</sup>** • vanguard.com

**Fund Information** • 800-662-7447

**Direct Investor Account Services** • 800-662-2739

**Text Telephone for People Who Are Deaf or Hard of Hearing** •

800-749-7273© 2025 The Vanguard Group, Inc.

All rights reserved.

Vanguard Marketing Corporation, Distributor.

SR514

**Item 2: Code of Ethics.**

Not applicable.

**Item 3**: **Audit Committee Financial Expert.**

Not applicable.

**Item 4**: **Principal Accountant Fees and Services.**

Not applicable.

**Item 5: Audit Committee of Listed Registrants.**

Not applicable.

**Item 6**: **Investments.**

Not applicable. The complete schedule of investments is included in the financial statements filed under Item 7 of this Form.

**Item 7**: **Financial Statements and Financial Highlights for Open-End Management Investment Companies.**

![](tm2517409d3vannjtxexmpfii001.jpg)

#### Financial Statements

#### For the six-months ended May 31, 2025

#### Vanguard New Jersey Long-Term Tax-Exempt Fund

------

#### Contents
Financial Statements 1 <br>

------

New Jersey Long-Term Tax-Exempt Fund

Financial Statements (unaudited)

#### Schedule of Investments
As of May 31, 2025

The fund files its complete schedule of portfolio holdings with the Securities and Exchange Commission (SEC) for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The fund's Form N-PORT reports are available on the SEC's website at www.sec.gov.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| **Tax-Exempt Municipal Bonds (99.7%)** | **Tax-Exempt Municipal Bonds (99.7%)** | **Tax-Exempt Municipal Bonds (99.7%)** | **Tax-Exempt Municipal Bonds (99.7%)** | **Tax-Exempt Municipal Bonds (99.7%)** | **Tax-Exempt Municipal Bonds (99.7%)** |
| **New Jersey (89.6%)** | **New Jersey (89.6%)** | **New Jersey (89.6%)** | **New Jersey (89.6%)** | **New Jersey (89.6%)** | **New Jersey (89.6%)** |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic City Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/26 | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 201 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic City Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp; 214 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic City Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp; 236 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic City Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp; 221 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic City Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp; 174 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic City Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp; 178 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic City Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp; 177 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic City Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp; 181 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic City Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp; 150 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Atlantic City NJ GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp; 770 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Atlantic City NJ GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 4420 | &nbsp;&nbsp; 4498 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic City NJ GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1010 | &nbsp;&nbsp; 1028 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Atlantic City NJ GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 710 | &nbsp;&nbsp; 715 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic County Improvement Authority College & University Revenue (Atlantic City Campus Phase II Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 264 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic County Improvement Authority College & University Revenue (Atlantic City Campus Phase II Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 214 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic County Improvement Authority College & University Revenue (Atlantic City Campus Phase II Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp; 374 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic County Improvement Authority College & University Revenue (Atlantic City Campus Phase II Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 275 | &nbsp;&nbsp; 276 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic County Improvement Authority College & University Revenue (Atlantic City Campus Phase II Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 710 | &nbsp;&nbsp; 702 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic County Improvement Authority College & University Revenue (Atlantic City Campus Phase II Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp; 341 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic County Improvement Authority College & University Revenue (Atlantic City Campus Phase II Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp; 286 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic County Improvement Authority College & University Revenue (Atlantic City Campus Phase II Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp; 568 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic County Improvement Authority College & University Revenue (Atlantic City Campus Phase II Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 525 | &nbsp;&nbsp; 488 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Atlantic County Improvement Authority College & University Revenue (Atlantic City Campus Phase II Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp; 703 |
|  | &nbsp;&nbsp;&nbsp;Atlantic County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1160 | &nbsp;&nbsp; 906 |
|  | &nbsp;&nbsp;&nbsp;Atlantic County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 785 | &nbsp;&nbsp; 559 |
|  | &nbsp;&nbsp;&nbsp;Atlantic County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1310 | &nbsp;&nbsp; 905 |
|  | &nbsp;&nbsp;&nbsp;Belleville Township NJ BAN GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/8/25 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5006 |
|  | &nbsp;&nbsp;&nbsp;Bergen County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; 2460 | &nbsp;&nbsp; 2267 |
|  | &nbsp;&nbsp;&nbsp;Bergenfield Borough NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1645 | &nbsp;&nbsp; 1396 |
|  | &nbsp;&nbsp;&nbsp;Bergenfield Borough NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1645 | &nbsp;&nbsp; 1371 |
|  | &nbsp;&nbsp;&nbsp;Bergenfield Borough NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1645 | &nbsp;&nbsp; 1353 |
|  | &nbsp;&nbsp;&nbsp;Bridgewater-Raritan Regional School District GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/43 | &nbsp;&nbsp;&nbsp;&nbsp; 6655 | &nbsp;&nbsp; 5280 |
|  | &nbsp;&nbsp;&nbsp;Burlington County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 1745 | &nbsp;&nbsp; 1642 |
|  | &nbsp;&nbsp;&nbsp;Burlington County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1790 | &nbsp;&nbsp; 1664 |
|  | &nbsp;&nbsp;&nbsp;Burlington Township Board of Education GO | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 2/15/43 | &nbsp;&nbsp;&nbsp;&nbsp; 2565 | &nbsp;&nbsp; 1763 |
|  | &nbsp;&nbsp;&nbsp;Burlington Township NJ GO | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 690 | &nbsp;&nbsp; 669 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Camden County Improvement Authority Charter School Aid Revenue (Camden Preparatory High School Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp; 150 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Camden County Improvement Authority Charter School Aid Revenue (Camden Preparatory High School Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp; 970 | &nbsp;&nbsp; 1008 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Camden County Improvement Authority Charter School Aid Revenue (Camden Preparatory High School Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/52 | &nbsp;&nbsp;&nbsp;&nbsp; 1865 | &nbsp;&nbsp; 1743 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Camden County Improvement Authority Charter School Aid Revenue (Camden Preparatory High School Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/62 | &nbsp;&nbsp;&nbsp;&nbsp;10120 | &nbsp;&nbsp; 9262 |
|  | &nbsp;&nbsp;&nbsp;Camden County Improvement Authority Charter School Aid Revenue (KIPP Cooper Norcross Academy - 2022 Project) | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/52 | &nbsp;&nbsp;&nbsp;&nbsp; 2325 | &nbsp;&nbsp; 2394 |
|  | &nbsp;&nbsp;&nbsp;Camden County Improvement Authority Charter School Aid Revenue (KIPP Cooper Norcross Academy - 2022 Project) | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/62 | &nbsp;&nbsp;&nbsp;&nbsp; 5115 | &nbsp;&nbsp; 5243 |
|  | &nbsp;&nbsp;&nbsp;Camden County Improvement Authority Lease (Non-Terminable) Revenue (County Guaranteed Loan-Capital Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp; 529 |
|  | &nbsp;&nbsp;&nbsp;Camden County Improvement Authority Lease (Non-Terminable) Revenue (County Guaranteed Loan-Capital Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 512 |
|  | &nbsp;&nbsp;&nbsp;Camden County Improvement Authority Local or Guaranteed Housing Revenue PUT | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/26 | &nbsp;&nbsp;&nbsp;&nbsp; 225 | &nbsp;&nbsp; 228 |
|  | &nbsp;&nbsp;&nbsp;Camden County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp; 519 |
|  | &nbsp;&nbsp;&nbsp;Cape May NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 959 |
|  | &nbsp;&nbsp;&nbsp;Cape May NJ GO | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 3815 | &nbsp;&nbsp; 3390 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Carlstadt Borough NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/32 | &nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp; 1446 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 544 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 550 | &nbsp;&nbsp; 598 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1020 | &nbsp;&nbsp; 1096 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 775 | &nbsp;&nbsp; 833 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2657 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp; 1685 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 660 | &nbsp;&nbsp; 695 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp; 1676 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 910 | &nbsp;&nbsp; 953 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 2600 | &nbsp;&nbsp; 2700 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1920 | &nbsp;&nbsp; 1994 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1950 | &nbsp;&nbsp; 2008 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 2420 | &nbsp;&nbsp; 2492 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1725 | &nbsp;&nbsp; 1771 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 3250 | &nbsp;&nbsp; 2851 |
| <sup>4</sup> | &nbsp;&nbsp;&nbsp;Casino Reinvestment Development Authority Inc. Miscellaneous Taxes Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2048 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Clifton Board of Education GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 3875 | &nbsp;&nbsp; 2571 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Clifton Board of Education GO | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1850 | &nbsp;&nbsp; 1181 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Clifton Board of Education GO | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1155 | &nbsp;&nbsp; 720 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Clifton Board of Education GO | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/45 | &nbsp;&nbsp;&nbsp;&nbsp; 7940 | &nbsp;&nbsp; 4877 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Deptford Township Board of Education GO | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1090 | &nbsp;&nbsp; 851 |
|  | &nbsp;&nbsp;&nbsp;East Brunswick Township Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/33 | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp; 358 |
|  | &nbsp;&nbsp;&nbsp;East Brunswick Township Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 620 | &nbsp;&nbsp; 538 |
|  | &nbsp;&nbsp;&nbsp;East Brunswick Township Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 425 |
|  | &nbsp;&nbsp;&nbsp;East Brunswick Township Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 730 | &nbsp;&nbsp; 616 |
|  | &nbsp;&nbsp;&nbsp;East Brunswick Township Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 755 | &nbsp;&nbsp; 630 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;East Orange NJ (East Orange Board of Education Project) GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp; 369 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;East Orange NJ (East Orange Board of Education Project) GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp; 361 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;East Rutherford Board of Education GO | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/41 | &nbsp;&nbsp;&nbsp;&nbsp; 668 | &nbsp;&nbsp; 443 |
|  | &nbsp;&nbsp;&nbsp;Edgewater Borough NJ GO | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp; 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1105 | &nbsp;&nbsp; 844 |
|  | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Charter School Aid Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Charter School Aid Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 545 | &nbsp;&nbsp; 511 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Charter School Aid Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 375 | &nbsp;&nbsp; 377 |
|  | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Charter School Aid Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp; 815 | &nbsp;&nbsp; 703 |
|  | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Charter School Aid Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/51 | &nbsp;&nbsp;&nbsp;&nbsp; 3300 | &nbsp;&nbsp; 2733 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Charter School Aid Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/54 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 476 |
|  | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Charter School Aid Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/56 | &nbsp;&nbsp;&nbsp;&nbsp;10805 | &nbsp;&nbsp; 8732 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Charter School Aid Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/60 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 775 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Charter School Aid Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/64 | &nbsp;&nbsp;&nbsp;&nbsp; 775 | &nbsp;&nbsp; 722 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Charter School Aid Revenue (North Star Academy Charter School of Newark Inc. - 2020 Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1575 | &nbsp;&nbsp; 1410 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Charter School Aid Revenue (North Star Academy Charter School of Newark Inc. - 2020 Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/60 | &nbsp;&nbsp;&nbsp;&nbsp; 3850 | &nbsp;&nbsp; 2985 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Local or Guaranteed Housing Revenue (CHF-Newark LLC - NJIT Student Housing Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 267 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Local or Guaranteed Housing Revenue (CHF-Newark LLC - NJIT Student Housing Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp; 295 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Local or Guaranteed Housing Revenue (CHF-Newark LLC - NJIT Student Housing Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 615 | &nbsp;&nbsp; 595 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Local or Guaranteed Housing Revenue (CHF-Newark LLC - NJIT Student Housing Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 635 | &nbsp;&nbsp; 608 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Local or Guaranteed Housing Revenue (CHF-Newark LLC - NJIT Student Housing Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 665 | &nbsp;&nbsp; 630 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Local or Guaranteed Housing Revenue (CHF-Newark LLC - NJIT Student Housing Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 690 | &nbsp;&nbsp; 647 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Essex County Improvement Authority Local or Guaranteed Housing Revenue (CHF-Newark LLC - NJIT Student Housing Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/56 | &nbsp;&nbsp;&nbsp;&nbsp; 3800 | &nbsp;&nbsp; 3282 |
|  | &nbsp;&nbsp;&nbsp;Essex County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 1905 | &nbsp;&nbsp; 1586 |
|  | &nbsp;&nbsp;&nbsp;Essex County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1495 | &nbsp;&nbsp; 1414 |
|  | &nbsp;&nbsp;&nbsp;Essex County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp; 2776 |
|  | &nbsp;&nbsp;&nbsp;Essex County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/36 | &nbsp;&nbsp;&nbsp;&nbsp; 4880 | &nbsp;&nbsp; 4441 |
|  | &nbsp;&nbsp;&nbsp;Essex County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp; 963 |
|  | &nbsp;&nbsp;&nbsp;Essex County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 2035 | &nbsp;&nbsp; 1520 |
|  | &nbsp;&nbsp;&nbsp;Essex County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 3900 | &nbsp;&nbsp; 2277 |
|  | &nbsp;&nbsp;&nbsp;Ewing Township Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 3040 | &nbsp;&nbsp; 3050 |
|  | &nbsp;&nbsp;&nbsp;Ewing Township Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; 3045 | &nbsp;&nbsp; 3039 |
|  | &nbsp;&nbsp;&nbsp;Flemington Raritan Regional Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1950 | &nbsp;&nbsp; 1628 |
|  | &nbsp;&nbsp;&nbsp;Fort Lee Borough NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 2715 | &nbsp;&nbsp; 2220 |
|  | &nbsp;&nbsp;&nbsp;Fort Lee Parking Authority Auto Parking Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/15/46 | &nbsp;&nbsp;&nbsp;&nbsp; 5500 | &nbsp;&nbsp; 5577 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Garden State Preservation Trust Appropriations Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 4150 | &nbsp;&nbsp; 4354 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Garden State Preservation Trust Recreational Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 6535 | &nbsp;&nbsp; 5792 |
|  | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Business & Engineering School Projects) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 930 | &nbsp;&nbsp; 930 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Fossil Park & Student Center Projects) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 275 | &nbsp;&nbsp; 295 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Fossil Park & Student Center Projects) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp; 374 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Fossil Park & Student Center Projects) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp; 1720 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Fossil Park & Student Center Projects) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp; 619 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Fossil Park & Student Center Projects) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2191 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 725 | &nbsp;&nbsp; 777 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp; 1216 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp; 683 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp; 1308 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp; 1198 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp; 724 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1032 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1028 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp; 4061 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Gloucester County Improvement Authority College & University Revenue (Rowan University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/54 | &nbsp;&nbsp;&nbsp;&nbsp; 3500 | &nbsp;&nbsp; 3532 |
|  | &nbsp;&nbsp;&nbsp;Gloucester Township NJ BAN GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/23/25 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5003 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Haddon Township NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 970 | &nbsp;&nbsp; 828 |
|  | &nbsp;&nbsp;&nbsp;Hoboken NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 2/15/51 | &nbsp;&nbsp;&nbsp;&nbsp; 1455 | &nbsp;&nbsp; 1046 |
|  | &nbsp;&nbsp;&nbsp;Hoboken NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 2/15/52 | &nbsp;&nbsp;&nbsp;&nbsp; 1455 | &nbsp;&nbsp; 1037 |
|  | &nbsp;&nbsp;&nbsp;Howell Township NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1980 | &nbsp;&nbsp; 1469 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Intergovernmental Agreement Revenue (Local Unit Loan Program) | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp; 7/11/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2415 | &nbsp;&nbsp; 2418 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Lease (Non-Terminable) Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/51 | &nbsp;&nbsp;&nbsp;&nbsp; 2150 | &nbsp;&nbsp; 2154 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Lease (Non-Terminable) Revenue (Hudson County Courthouse Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1865 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Lease (Non-Terminable) Revenue (Hudson County Courthouse Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1834 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Lease (Non-Terminable) Revenue (Hudson County Courthouse Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1798 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Lease (Non-Terminable) Revenue (Hudson County Courthouse Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1759 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Lease (Non-Terminable) Revenue (Hudson County Courthouse Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1714 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Lease (Non-Terminable) Revenue (Hudson County Courthouse Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 3980 | &nbsp;&nbsp; 3341 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Lease (Non-Terminable) Revenue (Hudson County Courthouse Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 4500 | &nbsp;&nbsp; 4231 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Lease (Non-Terminable) Revenue (Hudson County Courthouse Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/51 | &nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp; 6105 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Lease Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 2120 | &nbsp;&nbsp; 2145 |
|  | &nbsp;&nbsp;&nbsp;Hudson County Improvement Authority Lease Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp; 1300 |
|  | &nbsp;&nbsp;&nbsp;Hudson County NJ BAN GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 2/26/26 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5034 |
|  | &nbsp;&nbsp;&nbsp;Hudson County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;11/15/33 | &nbsp;&nbsp;&nbsp;&nbsp; 2450 | &nbsp;&nbsp; 2264 |
|  | &nbsp;&nbsp;&nbsp;Hudson County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;11/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1775 | &nbsp;&nbsp; 1406 |
|  | &nbsp;&nbsp;&nbsp;Hudson County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;11/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 767 |
|  | &nbsp;&nbsp;&nbsp;Hudson County NJ GO | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;11/15/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1920 | &nbsp;&nbsp; 1452 |
|  | &nbsp;&nbsp;&nbsp;Hudson County NJ GO | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp;11/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 733 |
|  | &nbsp;&nbsp;&nbsp;Hudson County NJ GO | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp;11/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1520 | &nbsp;&nbsp; 1099 |
|  | &nbsp;&nbsp;&nbsp;Hudson County NJ GO | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;11/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 714 |
|  | &nbsp;&nbsp;&nbsp;Hudson County NJ GO | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp;11/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 695 |
|  | &nbsp;&nbsp;&nbsp;Hudson County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;11/15/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp; 1330 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Jersey City Board of Education GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp; 378 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Jersey City Board of Education GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp; 483 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Jersey City Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp; 631 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Jersey City Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/41 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 478 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Jersey City Board of Education GO | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 875 | &nbsp;&nbsp; 837 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Jersey City Board of Education GO | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/43 | &nbsp;&nbsp;&nbsp;&nbsp; 625 | &nbsp;&nbsp; 592 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Jersey City Board of Education GO | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/44 | &nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp; 1077 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Sewer Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/41 | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp; 894 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Sewer Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp; 445 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Sewer Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/44 | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp; 1386 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Sewer Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/45 | &nbsp;&nbsp;&nbsp;&nbsp; 460 | &nbsp;&nbsp; 509 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Sewer Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1105 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Sewer Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/51 | &nbsp;&nbsp;&nbsp;&nbsp; 1465 | &nbsp;&nbsp; 1608 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Sewer Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/55 | &nbsp;&nbsp;&nbsp;&nbsp; 2475 | &nbsp;&nbsp; 2704 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Water Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/41 | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp; 447 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Water Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1112 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Water Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/44 | &nbsp;&nbsp;&nbsp;&nbsp; 365 | &nbsp;&nbsp; 405 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Water Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/45 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 277 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Water Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/48 | &nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1326 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/49 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2044 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Water Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/54 | &nbsp;&nbsp;&nbsp;&nbsp; 1455 | &nbsp;&nbsp; 1507 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City Municipal Utilities Authority Water Revenue | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/55 | &nbsp;&nbsp;&nbsp;&nbsp; 1570 | &nbsp;&nbsp; 1715 |
|  | &nbsp;&nbsp;&nbsp;Jersey City NJ GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 510 | &nbsp;&nbsp; 530 |
|  | &nbsp;&nbsp;&nbsp;Jersey City NJ GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 415 | &nbsp;&nbsp; 430 |
|  | &nbsp;&nbsp;&nbsp;Jersey City NJ GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2008 |
|  | &nbsp;&nbsp;&nbsp;Jersey City NJ GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1170 | &nbsp;&nbsp; 1172 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City NJ GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 2860 | &nbsp;&nbsp; 2863 |
|  | &nbsp;&nbsp;&nbsp;Jersey City NJ GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1022 |
|  | &nbsp;&nbsp;&nbsp;Jersey City NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 2/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 7635 | &nbsp;&nbsp; 6526 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City NJ GO | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 2300 | &nbsp;&nbsp; 2296 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City NJ GO | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 3480 | &nbsp;&nbsp; 3451 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Jersey City NJ GO | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 3599 | &nbsp;&nbsp; 3548 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Kearny NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 1680 | &nbsp;&nbsp; 1638 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Lakewood Township NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 1610 | &nbsp;&nbsp; 1352 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Lenape Regional High School District GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 3750 | &nbsp;&nbsp; 3650 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Lenape Regional High School District GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 2795 | &nbsp;&nbsp; 2699 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Lindenwold Boro School District GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 2/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1355 | &nbsp;&nbsp; 1250 |
|  | &nbsp;&nbsp;&nbsp;Livingston Township School District GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; 470 | &nbsp;&nbsp; 471 |
|  | &nbsp;&nbsp;&nbsp;Lodi Borough NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 2/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1090 | &nbsp;&nbsp; 930 |
|  | &nbsp;&nbsp;&nbsp;Madison Borough Board of Education GO | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp; 2525 | &nbsp;&nbsp; 2160 |
|  | &nbsp;&nbsp;&nbsp;Mercer County NJ GO | 0.050% | &nbsp;&nbsp;&nbsp;&nbsp; 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 3735 |
|  | &nbsp;&nbsp;&nbsp;Middlesex County Improvement Authority Auto Parking Revenue (New Brunswick Parking Deck Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/51 | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp; 2730 |
| <sup>5</sup> | &nbsp;&nbsp;&nbsp;Middlesex County Improvement Authority Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/53 | &nbsp;&nbsp;&nbsp;&nbsp;26000 | &nbsp;&nbsp; 26605 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Middlesex County Improvement Authority Intergovernmental Agreement Revenue TOB VRDO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/2/25 | &nbsp;&nbsp;&nbsp;&nbsp; 9650 | &nbsp;&nbsp; 9650 |
|  | &nbsp;&nbsp;&nbsp;Monmouth County Improvement Authority Intergovernmental Agreement Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp; 1805 |
|  | &nbsp;&nbsp;&nbsp;Monmouth County Improvement Authority Lease Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp; 51 |
|  | &nbsp;&nbsp;&nbsp;Monmouth County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 2815 | &nbsp;&nbsp; 2812 |
|  | &nbsp;&nbsp;&nbsp;Monmouth County NJ GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 580 | &nbsp;&nbsp; 616 |
|  | &nbsp;&nbsp;&nbsp;Monmouth Regional High School District GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 2/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 1255 | &nbsp;&nbsp; 1216 |
|  | &nbsp;&nbsp;&nbsp;Monmouth Regional High School District GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 2/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 1015 | &nbsp;&nbsp; 965 |
|  | &nbsp;&nbsp;&nbsp;Monroe Township NJ GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; 425 | &nbsp;&nbsp; 458 |
|  | &nbsp;&nbsp;&nbsp;New Brunswick NJ BAN GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/28/26 | &nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp; 1830 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Brunswick Parking Authority Auto Parking Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2041 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Brunswick Parking Authority Auto Parking Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1025 | &nbsp;&nbsp; 1033 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Building Authority Lease (Appropriation) Revenue, Prere. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 605 | &nbsp;&nbsp; 612 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp; 450 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1001 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 4910 | &nbsp;&nbsp; 5008 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp; 2320 | &nbsp;&nbsp; 2362 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; 1160 | &nbsp;&nbsp; 1161 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp; 4120 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 2220 | &nbsp;&nbsp; 2385 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 775 | &nbsp;&nbsp; 744 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1013 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 2115 | &nbsp;&nbsp; 2032 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 2820 | &nbsp;&nbsp; 2767 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 8165 | &nbsp;&nbsp; 8208 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 5825 | &nbsp;&nbsp; 5647 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/36 | &nbsp;&nbsp;&nbsp;&nbsp; 3405 | &nbsp;&nbsp; 3284 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp; 666 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/48 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 4655 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue (School Facilities Construction Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 107 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue (School Facilities Construction Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; 2620 | &nbsp;&nbsp; 2732 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue (School Facilities Construction Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1440 | &nbsp;&nbsp; 1482 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue (School Facilities Construction Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 2125 | &nbsp;&nbsp; 2164 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue (School Facilities Construction Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp; 9495 | &nbsp;&nbsp; 8306 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue (School Facilities Construction Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp; 2710 | &nbsp;&nbsp; 2308 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2502 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1001 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4105 | &nbsp;&nbsp; 4108 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1340 | &nbsp;&nbsp; 1341 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue, Prere. | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 4970 | &nbsp;&nbsp; 5114 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 5060 | &nbsp;&nbsp; 5226 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2600 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Appropriations Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; 6790 | &nbsp;&nbsp; 7273 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 310 | &nbsp;&nbsp; 274 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (Beloved Commonwealth Charter School Inc. Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; 840 | &nbsp;&nbsp; 829 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (Beloved Commonwealth Charter School Inc. Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 825 | &nbsp;&nbsp; 812 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (Beloved Commonwealth Charter School Inc. Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/49 | &nbsp;&nbsp;&nbsp;&nbsp; 380 | &nbsp;&nbsp; 355 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (Beloved Commonwealth Charter School Inc. Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/54 | &nbsp;&nbsp;&nbsp;&nbsp; 2185 | &nbsp;&nbsp; 2015 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (FDTN Academy Charter School Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp; 442 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (FDTN Academy Charter School Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 795 | &nbsp;&nbsp; 773 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (FDTN Academy Charter School Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp; 966 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (North Star Academy Charter School of Newark Inc. - 2020 Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; 510 | &nbsp;&nbsp; 510 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (North Star Academy Charter School of Newark Inc. - 2020 Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 535 | &nbsp;&nbsp; 542 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (North Star Academy Charter School of Newark Inc. - 2020 Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; 560 | &nbsp;&nbsp; 574 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (North Star Academy Charter School of Newark Inc. - 2020 Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp; 122 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Charter School Aid Revenue (TEAM Academy Charter School Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 12/1/48 | &nbsp;&nbsp;&nbsp;&nbsp; 2465 | &nbsp;&nbsp; 2432 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority College & University Revenue (Provident Group-Montclair Properties LLC - Montclair State University Student Housing Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp; 667 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority College & University Revenue (Provident Group-Montclair Properties LLC - Montclair State University Student Housing Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1470 | &nbsp;&nbsp; 1486 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority College & University Revenue (Provident Group-Montclair Properties LLC - Montclair State University Student Housing Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp; 10001 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority General Fund Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 645 | &nbsp;&nbsp; 648 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority General Fund Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/27 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5237 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Health, Hospital, Nursing Home Revenue (Bancroft Neurohealth Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 3105 | &nbsp;&nbsp; 2966 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Health, Hospital, Nursing Home Revenue (Cranes Mill Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/49 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 4446 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Health, Hospital, Nursing Home Revenue (Lions Gate Project) | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 4905 | &nbsp;&nbsp; 4454 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp; 3060 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Intergovernmental Agreement Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1065 | &nbsp;&nbsp; 1154 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Intergovernmental Agreement Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 2440 | &nbsp;&nbsp; 2618 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Intergovernmental Agreement Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2131 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; 375 | &nbsp;&nbsp; 375 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 260 | &nbsp;&nbsp; 261 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 2515 | &nbsp;&nbsp; 2516 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue (New Jersey Transit Transportation Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 345 | &nbsp;&nbsp; 367 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue (New Jersey Transit Transportation Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 4500 | &nbsp;&nbsp; 4675 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue (New Jersey Transit Transportation Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 4400 | &nbsp;&nbsp; 4160 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue (New Jersey Transit Transportation Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 3605 | &nbsp;&nbsp; 3358 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue (New Jersey Transit Transportation Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 4150 | &nbsp;&nbsp; 3821 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue (State Government Buildings Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp; 622 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue (State Government Buildings Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 2385 | &nbsp;&nbsp; 2401 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue (State Government Buildings Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 4981 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue (State Government Buildings Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1030 | &nbsp;&nbsp; 1026 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; 2900 | &nbsp;&nbsp; 3024 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; 4290 | &nbsp;&nbsp; 4474 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease (Appropriation) Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp; 1877 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease Revenue (State House Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; 2290 | &nbsp;&nbsp; 2361 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease Revenue (State House Project) | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 3065 | &nbsp;&nbsp; 2962 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Lease Revenue (State House Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/43 | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp; 3008 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Local or Guaranteed Housing Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 90 | &nbsp;&nbsp; 90 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Local or Guaranteed Housing Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp; 1143 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Local or Guaranteed Housing Revenue | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 191 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Local or Guaranteed Housing Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2508 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Local or Guaranteed Housing Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1946 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Local or Guaranteed Housing Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 5985 | &nbsp;&nbsp; 5659 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Local or Guaranteed Housing Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1350 | &nbsp;&nbsp; 1311 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Local or Guaranteed Housing Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1220 | &nbsp;&nbsp; 1117 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Local or Guaranteed Housing Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp; 1598 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Local or Guaranteed Housing Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 6905 | &nbsp;&nbsp; 5939 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Local or Guaranteed Housing Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp; 7228 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Miscellaneous Revenue (Seeing Eye Inc. 2017 Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 2345 | &nbsp;&nbsp; 2413 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/27 | &nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp; 6222 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Economic Development Authority Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp; 6335 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority Appropriations Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp; 130 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2175 | &nbsp;&nbsp; 2178 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 460 | &nbsp;&nbsp; 460 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp; 125 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 935 | &nbsp;&nbsp; 966 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp; 3037 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 295 | &nbsp;&nbsp; 303 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 490 | &nbsp;&nbsp; 506 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 565 | &nbsp;&nbsp; 577 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp; 4038 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp;10265 | &nbsp;&nbsp; 10416 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 6250 | &nbsp;&nbsp; 6306 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 2150 | &nbsp;&nbsp; 2182 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 285 | &nbsp;&nbsp; 286 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1030 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 2845 | &nbsp;&nbsp; 2921 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp; 3091 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 2305 | &nbsp;&nbsp; 2338 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 2890 | &nbsp;&nbsp; 2912 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp; 447 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 390 | &nbsp;&nbsp; 391 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2576 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 2340 | &nbsp;&nbsp; 2397 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 430 | &nbsp;&nbsp; 430 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp; 96 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 2475 | &nbsp;&nbsp; 2492 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 680 | &nbsp;&nbsp; 720 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1825 | &nbsp;&nbsp; 1875 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1485 | &nbsp;&nbsp; 1564 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2571 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 2340 | &nbsp;&nbsp; 2391 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 850 | &nbsp;&nbsp; 850 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1475 | &nbsp;&nbsp; 1488 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp; 81 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1130 | &nbsp;&nbsp; 1184 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1485 | &nbsp;&nbsp; 1514 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp; 2116 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1175 | &nbsp;&nbsp; 931 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp; 1801 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 775 | &nbsp;&nbsp; 728 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 4975 | &nbsp;&nbsp; 5091 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 3285 | &nbsp;&nbsp; 3425 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 2350 | &nbsp;&nbsp; 1808 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp; 1140 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1340 | &nbsp;&nbsp; 1340 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 930 | &nbsp;&nbsp; 944 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1980 | &nbsp;&nbsp; 2039 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp; 796 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1438 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp; 567 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1050 | &nbsp;&nbsp; 1076 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1388 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 936 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 2670 | &nbsp;&nbsp; 2387 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1230 | &nbsp;&nbsp; 1230 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 3025 | &nbsp;&nbsp; 2031 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 850 | &nbsp;&nbsp; 791 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2109 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 515 | &nbsp;&nbsp; 354 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp; 692 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 2080 | &nbsp;&nbsp; 2088 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp; 4185 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 2155 | &nbsp;&nbsp; 2235 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp; 1444 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;12640 | &nbsp;&nbsp; 12705 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp; 440 | &nbsp;&nbsp; 380 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 6100 | &nbsp;&nbsp; 5059 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 850 | &nbsp;&nbsp; 761 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 2845 | &nbsp;&nbsp; 2105 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp; 1400 | &nbsp;&nbsp; 1068 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp; 6495 | &nbsp;&nbsp; 4507 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp; 9450 | &nbsp;&nbsp; 7991 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp; 2850 | &nbsp;&nbsp; 2500 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp; 1125 | &nbsp;&nbsp; 969 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/53 | &nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp; 6292 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/54 | &nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp; 6247 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 275 | &nbsp;&nbsp; 289 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp; 425 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 280 | &nbsp;&nbsp; 301 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 275 | &nbsp;&nbsp; 298 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 270 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 275 | &nbsp;&nbsp; 296 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp; 319 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 225 | &nbsp;&nbsp; 201 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 375 | &nbsp;&nbsp; 375 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 820 | &nbsp;&nbsp; 701 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp; 291 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 770 | &nbsp;&nbsp; 626 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue (William Paterson University Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 275 | &nbsp;&nbsp; 219 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue PUT | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5525 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue TOB VRDO | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp; 6/2/25 | &nbsp;&nbsp;&nbsp;&nbsp; 9600 | &nbsp;&nbsp; 9600 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority College & University Revenue, Prere. | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 10 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 2810 | &nbsp;&nbsp; 2947 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2083 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp; 1812 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1140 | &nbsp;&nbsp; 1175 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp; 1284 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/48 | &nbsp;&nbsp;&nbsp;&nbsp; 2120 | &nbsp;&nbsp; 2094 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Educational Facilities Authority Intergovernmental Agreement Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/53 | &nbsp;&nbsp;&nbsp;&nbsp; 2230 | &nbsp;&nbsp; 2287 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp;15500 | &nbsp;&nbsp; 15500 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 3400 | &nbsp;&nbsp; 2948 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1263 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2044 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 2785 | &nbsp;&nbsp; 2357 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1187 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1147 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1110 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5065 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 4500 | &nbsp;&nbsp; 4545 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2990 | &nbsp;&nbsp; 2990 |
|  | &nbsp;&nbsp;&nbsp;New Jersey GO, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp; 4164 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Appropriations Revenue (Hospital Asset Transformation Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 1225 | &nbsp;&nbsp; 1285 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp; 35 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp; 2100 | &nbsp;&nbsp; 2102 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 2860 | &nbsp;&nbsp; 2887 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 465 | &nbsp;&nbsp; 461 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 2940 | &nbsp;&nbsp; 2965 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 1950 | &nbsp;&nbsp; 1952 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp; 2216 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 1540 | &nbsp;&nbsp; 1645 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 1850 | &nbsp;&nbsp; 1852 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 501 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 2310 | &nbsp;&nbsp; 2325 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp; 308 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 2055 | &nbsp;&nbsp; 2088 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 1695 | &nbsp;&nbsp; 1575 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 2455 | &nbsp;&nbsp; 2601 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 3.125% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 3620 | &nbsp;&nbsp; 3226 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 1220 | &nbsp;&nbsp; 1233 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 5080 | &nbsp;&nbsp; 5152 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 3305 | &nbsp;&nbsp; 3488 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 2340 | &nbsp;&nbsp; 2375 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1592 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 2725 | &nbsp;&nbsp; 2751 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 2040 | &nbsp;&nbsp; 2144 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 2190 | &nbsp;&nbsp; 2220 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1583 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1005 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp; 759 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 6925 | &nbsp;&nbsp; 7045 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2550 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1571 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1568 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 3750 | &nbsp;&nbsp; 3741 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1008 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 2365 | &nbsp;&nbsp; 2408 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1560 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 4670 | &nbsp;&nbsp; 4580 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 6755 | &nbsp;&nbsp; 6841 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 3600 | &nbsp;&nbsp; 3657 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1645 | &nbsp;&nbsp; 1699 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1130 | &nbsp;&nbsp; 978 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 4360 | &nbsp;&nbsp; 4182 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1380 | &nbsp;&nbsp; 1361 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1030 | &nbsp;&nbsp; 874 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 3955 | &nbsp;&nbsp; 3705 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp; 6836 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/39 | &nbsp;&nbsp;&nbsp;&nbsp;13000 | &nbsp;&nbsp; 13092 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 3240 | &nbsp;&nbsp; 2693 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 4075 | &nbsp;&nbsp; 3924 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp; 7337 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 2625 | &nbsp;&nbsp; 2132 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp;12500 | &nbsp;&nbsp; 11543 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 945 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 995 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp; 6237 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2139 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp;11445 | &nbsp;&nbsp; 10196 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2110 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp; 9135 | &nbsp;&nbsp; 8253 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 1512 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 6480 | &nbsp;&nbsp; 4752 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 9675 | &nbsp;&nbsp; 8460 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 5395 | &nbsp;&nbsp; 4556 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/48 | &nbsp;&nbsp;&nbsp;&nbsp;18165 | &nbsp;&nbsp; 14945 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;10400 | &nbsp;&nbsp; 7509 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/49 | &nbsp;&nbsp;&nbsp;&nbsp; 9000 | &nbsp;&nbsp; 9183 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp; 3235 | &nbsp;&nbsp; 1925 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp; 8175 | &nbsp;&nbsp; 5781 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;13130 | &nbsp;&nbsp; 8991 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;15730 | &nbsp;&nbsp; 13557 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/52 | &nbsp;&nbsp;&nbsp;&nbsp; 3280 | &nbsp;&nbsp; 2653 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;15875 | &nbsp;&nbsp; 13640 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/54 | &nbsp;&nbsp;&nbsp;&nbsp; 3185 | &nbsp;&nbsp; 2825 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/54 | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp; 3111 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp; 15200 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue VRDO | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp; 6/2/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4610 | &nbsp;&nbsp; 4610 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue VRDO | 2.100% | &nbsp;&nbsp;&nbsp;&nbsp; 6/2/25 | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp; 800 |
| <sup>7</sup> | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue VRDO | 1.950% | &nbsp;&nbsp;&nbsp;&nbsp; 6/5/25 | &nbsp;&nbsp;&nbsp;&nbsp;10490 | &nbsp;&nbsp; 10490 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue, ETM | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1060 | &nbsp;&nbsp; 1062 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue, ETM | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp; 66 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp; 1165 | &nbsp;&nbsp; 1189 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp; 817 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1021 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp; 2875 | &nbsp;&nbsp; 2934 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Health Care Facilities Financing Authority Health, Hospital, Nursing Home Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp;&nbsp;&nbsp; 2745 | &nbsp;&nbsp; 2802 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.600% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/26 | &nbsp;&nbsp;&nbsp;&nbsp; 5750 | &nbsp;&nbsp; 5752 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp; 995 | &nbsp;&nbsp; 990 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/27 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 996 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 640 | &nbsp;&nbsp; 638 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 1.875% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 2230 | &nbsp;&nbsp; 1958 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 6355 | &nbsp;&nbsp; 6020 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 8965 | &nbsp;&nbsp; 8524 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp; 894 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 2965 | &nbsp;&nbsp; 2964 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.875% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 3365 | &nbsp;&nbsp; 3087 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.850% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 4830 | &nbsp;&nbsp; 4419 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 2030 | &nbsp;&nbsp; 1436 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 2150 | &nbsp;&nbsp; 1533 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 7000 | &nbsp;&nbsp; 6956 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 701 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;10860 | &nbsp;&nbsp; 10709 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.950% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp; 985 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 4710 | &nbsp;&nbsp; 4620 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/45 | &nbsp;&nbsp;&nbsp;&nbsp; 3240 | &nbsp;&nbsp; 2139 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.450% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/45 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 648 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.750% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/45 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 850 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.300% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 3825 | &nbsp;&nbsp; 2373 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 4815 | &nbsp;&nbsp; 4673 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.650% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 661 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 675 | &nbsp;&nbsp; 594 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/48 | &nbsp;&nbsp;&nbsp;&nbsp; 825 | &nbsp;&nbsp; 728 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/49 | &nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp; 1846 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp; 865 | &nbsp;&nbsp; 621 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.700% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp; 5750 | &nbsp;&nbsp; 5566 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/50 | &nbsp;&nbsp;&nbsp;&nbsp; 9895 | &nbsp;&nbsp; 10035 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.550% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 622 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;12595 | &nbsp;&nbsp; 12515 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.700% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 637 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/52 | &nbsp;&nbsp;&nbsp;&nbsp; 4895 | &nbsp;&nbsp; 2862 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/52 | &nbsp;&nbsp;&nbsp;&nbsp; 2295 | &nbsp;&nbsp; 2232 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/53 | &nbsp;&nbsp;&nbsp;&nbsp;10730 | &nbsp;&nbsp; 11049 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/53 | &nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp; 541 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/55 | &nbsp;&nbsp;&nbsp;&nbsp; 3355 | &nbsp;&nbsp; 3064 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.550% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/55 | &nbsp;&nbsp;&nbsp;&nbsp; 7165 | &nbsp;&nbsp; 6559 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/55 | &nbsp;&nbsp;&nbsp;&nbsp; 5915 | &nbsp;&nbsp; 6354 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.625% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/56 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 598 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 2.750% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/56 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 617 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/60 | &nbsp;&nbsp;&nbsp;&nbsp; 1825 | &nbsp;&nbsp; 1715 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue | 4.600% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/60 | &nbsp;&nbsp;&nbsp;&nbsp; 3940 | &nbsp;&nbsp; 3703 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue (New Center City Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp; 4000 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Local or Guaranteed Housing Revenue PUT | 4.080% | &nbsp;&nbsp;&nbsp;&nbsp; 12/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2665 | &nbsp;&nbsp; 2674 |
| <sup>8</sup> | &nbsp;&nbsp;&nbsp;New Jersey Housing & Mortgage Finance Agency Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp;12/20/65 | &nbsp;&nbsp;&nbsp;&nbsp; 5100 | &nbsp;&nbsp; 5162 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Infrastructure Bank Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp; 845 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Infrastructure Bank Intergovernmental Agreement Revenue | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 1720 | &nbsp;&nbsp; 1025 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Infrastructure Bank Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2096 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Infrastructure Bank Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp; 2065 | &nbsp;&nbsp; 2151 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Infrastructure Bank Intergovernmental Agreement Revenue | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/51 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 1398 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Infrastructure Bank Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/52 | &nbsp;&nbsp;&nbsp;&nbsp; 2230 | &nbsp;&nbsp; 2294 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Infrastructure Bank Lease Revenue | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 2705 | &nbsp;&nbsp; 1813 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Infrastructure Bank Lease Revenue | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 6655 | &nbsp;&nbsp; 3857 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Infrastructure Bank Lease Revenue | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/50 | &nbsp;&nbsp;&nbsp;&nbsp; 5530 | &nbsp;&nbsp; 3145 |
|  | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 925 | &nbsp;&nbsp; 979 |
|  | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 330 | &nbsp;&nbsp; 347 |
|  | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 6605 | &nbsp;&nbsp; 6615 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1281 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2118 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2100 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2087 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2076 |
|  | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp; 8975 | &nbsp;&nbsp; 8988 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/45 | &nbsp;&nbsp;&nbsp;&nbsp; 5250 | &nbsp;&nbsp; 5423 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/50 | &nbsp;&nbsp;&nbsp;&nbsp; 9500 | &nbsp;&nbsp; 9867 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey NJ Institute of Technology College & University Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/55 | &nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp; 8263 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Rutgers State University College & University Revenue VRDO | 2.400% | &nbsp;&nbsp;&nbsp;&nbsp; 6/2/25 | &nbsp;&nbsp;&nbsp;&nbsp;43495 | &nbsp;&nbsp; 43495 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 2995 | &nbsp;&nbsp; 2846 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 6020 | &nbsp;&nbsp; 5717 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; 4075 | &nbsp;&nbsp; 4149 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; 7480 | &nbsp;&nbsp; 7612 |
| <sup>9</sup> | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; 565 | &nbsp;&nbsp; 500 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; 4705 | &nbsp;&nbsp; 4165 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; 755 | &nbsp;&nbsp; 671 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; 5805 | &nbsp;&nbsp; 5899 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; 1270 | &nbsp;&nbsp; 1291 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; 5060 | &nbsp;&nbsp; 4330 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp; 4060 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp;&nbsp;&nbsp;10550 | &nbsp;&nbsp; 10707 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 4.100% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp; 1335 | &nbsp;&nbsp; 1341 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp;10430 | &nbsp;&nbsp; 10568 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/31 | &nbsp;&nbsp;&nbsp;&nbsp; 2025 | &nbsp;&nbsp; 2051 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp;10105 | &nbsp;&nbsp; 7652 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp; 1030 | &nbsp;&nbsp; 776 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1057 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/33 | &nbsp;&nbsp;&nbsp;&nbsp;12240 | &nbsp;&nbsp; 12705 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/33 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1050 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 285 | &nbsp;&nbsp; 196 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 3250 | &nbsp;&nbsp; 3349 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/36 | &nbsp;&nbsp;&nbsp;&nbsp; 875 | &nbsp;&nbsp; 535 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/36 | &nbsp;&nbsp;&nbsp;&nbsp; 6775 | &nbsp;&nbsp; 4139 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 8335 | &nbsp;&nbsp; 4793 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 2700 | &nbsp;&nbsp; 1553 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 8370 | &nbsp;&nbsp; 4530 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp; 686 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 3485 | &nbsp;&nbsp; 3364 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 2195 | &nbsp;&nbsp; 2235 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1800 | &nbsp;&nbsp; 1666 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 5180 | &nbsp;&nbsp; 2496 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp; 2749 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp; 5465 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1049 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp; 3755 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp; 6600 | &nbsp;&nbsp; 6048 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;16320 | &nbsp;&nbsp; 14098 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;19000 | &nbsp;&nbsp; 13290 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp; 8150 | &nbsp;&nbsp; 6870 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program) | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp; 9365 | &nbsp;&nbsp; 9565 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program), Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; 1245 | &nbsp;&nbsp; 1336 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Appropriations Revenue (Transportation Program), Prere. | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/32 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1164 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/36 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1951 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp; 2854 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 2495 | &nbsp;&nbsp; 2115 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp; 2715 | &nbsp;&nbsp; 2390 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;13125 | &nbsp;&nbsp; 11438 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue | 3.500% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/46 | &nbsp;&nbsp;&nbsp;&nbsp;14310 | &nbsp;&nbsp; 11284 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;16780 | &nbsp;&nbsp; 11737 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp; 1054 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp; 6070 | &nbsp;&nbsp; 5117 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp; 785 | &nbsp;&nbsp; 785 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; 5525 | &nbsp;&nbsp; 5927 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Fuel Sales Tax Revenue, Prere. | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp; 8558 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 8680 | &nbsp;&nbsp; 8264 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/40 | &nbsp;&nbsp;&nbsp;&nbsp;10055 | &nbsp;&nbsp; 10483 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 4520 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp;17725 | &nbsp;&nbsp; 18194 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 2325 | &nbsp;&nbsp; 2424 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1275 | &nbsp;&nbsp; 1319 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 7500 | &nbsp;&nbsp; 7710 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/44 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 508 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/45 | &nbsp;&nbsp;&nbsp;&nbsp;10590 | &nbsp;&nbsp; 10730 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp; 4185 | &nbsp;&nbsp; 3601 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;11535 | &nbsp;&nbsp; 11822 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/55 | &nbsp;&nbsp;&nbsp;&nbsp; 7415 | &nbsp;&nbsp; 6266 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Intergovernmental Agreement Revenue (Transportation Program) | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;40265 | &nbsp;&nbsp; 41194 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Lease (Appropriation) Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/38 | &nbsp;&nbsp;&nbsp;&nbsp;12000 | &nbsp;&nbsp; 6495 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Lease (Appropriation) Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 4080 | &nbsp;&nbsp; 2080 |
| <sup>9,10</sup> | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Transit Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/26 | &nbsp;&nbsp;&nbsp;&nbsp; 595 | &nbsp;&nbsp; 566 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority Transit Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp;12/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp; 96 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/26 | &nbsp;&nbsp;&nbsp;&nbsp;12125 | &nbsp;&nbsp; 12294 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 2600 | &nbsp;&nbsp; 2717 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp; 156 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 3100 | &nbsp;&nbsp; 3234 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 31 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp; 1301 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5012 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2001 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 3890 | &nbsp;&nbsp; 4014 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;14360 | &nbsp;&nbsp; 13229 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 4606 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1040 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp; 7629 |
| <sup>11</sup> | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 2320 | &nbsp;&nbsp; 2425 |
| <sup>11</sup> | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 2525 | &nbsp;&nbsp; 2626 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/45 | &nbsp;&nbsp;&nbsp;&nbsp;26665 | &nbsp;&nbsp; 27497 |
| <sup>11</sup> | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/45 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2071 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp; 5705 | &nbsp;&nbsp; 5028 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/48 | &nbsp;&nbsp;&nbsp;&nbsp; 7555 | &nbsp;&nbsp; 7275 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/49 | &nbsp;&nbsp;&nbsp;&nbsp;23385 | &nbsp;&nbsp; 24306 |
| <sup>11</sup> | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/50 | &nbsp;&nbsp;&nbsp;&nbsp; 7500 | &nbsp;&nbsp; 7820 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/51 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp; 13184 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/52 | &nbsp;&nbsp;&nbsp;&nbsp; 6000 | &nbsp;&nbsp; 6179 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;15000 | &nbsp;&nbsp; 13416 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/54 | &nbsp;&nbsp;&nbsp;&nbsp;12065 | &nbsp;&nbsp; 12431 |
| <sup>11</sup> | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp; 9790 |
| <sup>11</sup> | &nbsp;&nbsp;&nbsp;New Jersey Turnpike Authority Highway Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/55 | &nbsp;&nbsp;&nbsp;&nbsp;19710 | &nbsp;&nbsp; 20370 |
|  | &nbsp;&nbsp;&nbsp;New Milford Borough NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 270 | &nbsp;&nbsp; 231 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Newark Board of Education GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp;&nbsp;&nbsp; 875 | &nbsp;&nbsp; 958 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Newark Board of Education GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/33 | &nbsp;&nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp; 565 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Newark Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 503 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Newark Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp; 475 | &nbsp;&nbsp; 475 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Newark Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp; 445 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Newark Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1350 | &nbsp;&nbsp; 1114 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Newark Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1550 | &nbsp;&nbsp; 1252 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Newark Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 3025 | &nbsp;&nbsp; 2392 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Newark Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/41 | &nbsp;&nbsp;&nbsp;&nbsp; 3855 | &nbsp;&nbsp; 2988 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Newark Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp; 609 |
| <sup>6</sup> | &nbsp;&nbsp;&nbsp;Newark Housing Authority Intergovernmental Agreement Revenue (ADDL-Newark Redevelopment Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 5500 | &nbsp;&nbsp; 5782 |
|  | &nbsp;&nbsp;&nbsp;Newark Housing Authority Intergovernmental Agreement Revenue (ADDL-Newark Redevelopment Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 8600 | &nbsp;&nbsp; 8358 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Newark NJ Mass Transit Access Tax Miscellaneous Taxes Revenue | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp;11/15/52 | &nbsp;&nbsp;&nbsp;&nbsp; 3920 | &nbsp;&nbsp; 4142 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Newark NJ Mass Transit Access Tax Miscellaneous Taxes Revenue | 6.000% | &nbsp;&nbsp;&nbsp;&nbsp;11/15/62 | &nbsp;&nbsp;&nbsp;&nbsp; 9370 | &nbsp;&nbsp; 10256 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Newark Parking Authority Lease (Non-Terminable) Revenue (Office Facility/Office Project) | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 2/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1075 | &nbsp;&nbsp; 1083 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Newark Parking Authority Lease (Non-Terminable) Revenue (Office Facility/Office Project) | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp; 2/1/51 | &nbsp;&nbsp;&nbsp;&nbsp; 1600 | &nbsp;&nbsp; 1610 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;North Bergen Township Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/41 | &nbsp;&nbsp;&nbsp;&nbsp; 910 | &nbsp;&nbsp; 875 |
|  | &nbsp;&nbsp;&nbsp;North Brunswick Township Board of Education GO | 3.250% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/31 | &nbsp;&nbsp;&nbsp;&nbsp; 395 | &nbsp;&nbsp; 390 |
|  | &nbsp;&nbsp;&nbsp;North Brunswick Township Board of Education GO | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1695 | &nbsp;&nbsp; 1539 |
|  | &nbsp;&nbsp;&nbsp;North Brunswick Township Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/44 | &nbsp;&nbsp;&nbsp;&nbsp; 4430 | &nbsp;&nbsp; 4176 |
|  | &nbsp;&nbsp;&nbsp;North Brunswick Township Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/15/45 | &nbsp;&nbsp;&nbsp;&nbsp; 4600 | &nbsp;&nbsp; 4307 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;North Hudson NJ Sewerage Authority Lease (Non-Terminable) Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1485 | &nbsp;&nbsp; 1646 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;North Hudson NJ Sewerage Authority Lease (Non-Terminable) Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1096 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;North Hudson NJ Sewerage Authority Lease (Non-Terminable) Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp; 1194 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;North Hudson NJ Sewerage Authority Lease (Non-Terminable) Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp; 1182 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;North Hudson NJ Sewerage Authority Lease (Non-Terminable) Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1062 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;North Hudson NJ Sewerage Authority Lease (Non-Terminable) Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1045 | &nbsp;&nbsp; 1098 |
|  | &nbsp;&nbsp;&nbsp;Ocean City NJ GO | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 9/15/32 | &nbsp;&nbsp;&nbsp;&nbsp; 2370 | &nbsp;&nbsp; 2070 |
|  | &nbsp;&nbsp;&nbsp;Ocean City NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 4380 | &nbsp;&nbsp; 3839 |
|  | &nbsp;&nbsp;&nbsp;Ocean City NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp;10/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 4380 | &nbsp;&nbsp; 3227 |
|  | &nbsp;&nbsp;&nbsp;Ocean County NJ GO | 4.375% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 3405 | &nbsp;&nbsp; 3482 |
|  | &nbsp;&nbsp;&nbsp;Parsippany-Troy Hills Township NJ GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp; 1705 |
|  | &nbsp;&nbsp;&nbsp;Parsippany-Troy Hills Township NJ GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp; 1692 |
|  | &nbsp;&nbsp;&nbsp;Parsippany-Troy Hills Township NJ GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1680 | &nbsp;&nbsp; 1596 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Auto Parking Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2524 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Charter School Aid Revenue | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 991 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Charter School Aid Revenue | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1145 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Charter School Aid Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 971 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Charter School Aid Revenue | 4.750% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/45 | &nbsp;&nbsp;&nbsp;&nbsp; 1060 | &nbsp;&nbsp; 970 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Charter School Aid Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/55 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 921 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Charter School Aid Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/60 | &nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp; 1532 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Charter School Aid Revenue (Paterson Arts & Science Charter School Project) | 4.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 520 | &nbsp;&nbsp; 523 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Charter School Aid Revenue (Paterson Arts & Science Charter School Project) | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1340 | &nbsp;&nbsp; 1352 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Charter School Aid Revenue (Paterson Arts & Science Charter School Project) | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1002 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Charter School Aid Revenue (Paterson Arts & Science Charter School Project) | 5.500% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/58 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2013 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Lease (Non-Terminable) Revenue (DPW Building Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 720 | &nbsp;&nbsp; 721 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Lease Revenue (Paterson City Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp; 113 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Lease Revenue (Paterson City Project) | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp; 127 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Lease Revenue (Paterson City Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/36 | &nbsp;&nbsp;&nbsp;&nbsp; 145 | &nbsp;&nbsp; 129 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Lease Revenue (Paterson City Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp; 131 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Lease Revenue (Paterson City Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/44 | &nbsp;&nbsp;&nbsp;&nbsp; 755 | &nbsp;&nbsp; 578 |
|  | &nbsp;&nbsp;&nbsp;Passaic County Improvement Authority Miscellaneous Revenue (Guaranteed-City Paterson Project) | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1200 | &nbsp;&nbsp; 1231 |
|  | &nbsp;&nbsp;&nbsp;Passaic County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 540 | &nbsp;&nbsp; 526 |
|  | &nbsp;&nbsp;&nbsp;Passaic County NJ GO | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp; 12/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1675 | &nbsp;&nbsp; 1205 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Passaic Valley Sewerage Commission Sewer Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 12/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1615 | &nbsp;&nbsp; 1446 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Passaic Valley Sewerage Commission Sewer Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 12/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1495 | &nbsp;&nbsp; 1312 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Passaic Valley Sewerage Commission Sewer Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 12/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1935 | &nbsp;&nbsp; 1653 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Passaic Valley Sewerage Commission Sewer Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 12/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 970 | &nbsp;&nbsp; 809 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Passaic Valley Sewerage Commission Sewer Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 12/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 410 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Passaic Valley Water Commission Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 360 | &nbsp;&nbsp; 380 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;Passaic Valley Water Commission Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 12/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp; 837 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Perth Amboy NJ GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; 690 | &nbsp;&nbsp; 741 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Perth Amboy NJ GO | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp; 653 |
|  | &nbsp;&nbsp;&nbsp;Rancocas Valley Regional High School District GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp; 1099 |
|  | &nbsp;&nbsp;&nbsp;Rancocas Valley Regional High School District GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 3/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1300 | &nbsp;&nbsp; 1086 |
|  | &nbsp;&nbsp;&nbsp;Ridgewood Bergen County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 505 | &nbsp;&nbsp; 342 |
|  | &nbsp;&nbsp;&nbsp;Saddle Brook Township NJ GO | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 421 |
|  | &nbsp;&nbsp;&nbsp;Saddle Brook Township NJ GO | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 2/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 415 |
|  | &nbsp;&nbsp;&nbsp;Salem County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; 1150 | &nbsp;&nbsp; 1073 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Salem County NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/33 | &nbsp;&nbsp;&nbsp;&nbsp; 270 | &nbsp;&nbsp; 251 |
|  | &nbsp;&nbsp;&nbsp;Salem County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1680 | &nbsp;&nbsp; 1262 |
|  | &nbsp;&nbsp;&nbsp;Salem County NJ GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1835 | &nbsp;&nbsp; 1336 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Sayreville Borough NJ GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 2160 | &nbsp;&nbsp; 2080 |
|  | &nbsp;&nbsp;&nbsp;South Jersey Port Corp. Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1915 | &nbsp;&nbsp; 1925 |
|  | &nbsp;&nbsp;&nbsp;South Jersey Port Corp. Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 2910 | &nbsp;&nbsp; 2915 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 212 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 1140 | &nbsp;&nbsp; 1207 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 536 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 534 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 531 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 529 |
| <sup>1</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 526 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1574 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 2285 | &nbsp;&nbsp; 2140 |
|  | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1025 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 2110 | &nbsp;&nbsp; 2198 |
|  | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 2125 | &nbsp;&nbsp; 1929 |
|  | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1250 | &nbsp;&nbsp; 1273 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 3250 | &nbsp;&nbsp; 3311 |
|  | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1750 | &nbsp;&nbsp; 1782 |
|  | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 4.500% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 1911 |
|  | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/45 | &nbsp;&nbsp;&nbsp;&nbsp; 8975 | &nbsp;&nbsp; 8992 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/45 | &nbsp;&nbsp;&nbsp;&nbsp; 3525 | &nbsp;&nbsp; 3557 |
|  | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 4.625% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 2635 | &nbsp;&nbsp; 2502 |
|  | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp;12235 | &nbsp;&nbsp; 10266 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/50 | &nbsp;&nbsp;&nbsp;&nbsp; 3265 | &nbsp;&nbsp; 2802 |
|  | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp; 5900 | &nbsp;&nbsp; 5972 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;South Jersey Transportation Authority Highway Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/52 | &nbsp;&nbsp;&nbsp;&nbsp; 3650 | &nbsp;&nbsp; 3728 |
|  | &nbsp;&nbsp;&nbsp;South Orange & Maplewood School District GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 215 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;South Orange & Maplewood School District GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp; 98 |
|  | &nbsp;&nbsp;&nbsp;South Orange & Maplewood School District GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/34 | &nbsp;&nbsp;&nbsp;&nbsp; 205 | &nbsp;&nbsp; 164 |
|  | &nbsp;&nbsp;&nbsp;South Orange & Maplewood School District GO | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1120 | &nbsp;&nbsp; 845 |
|  | &nbsp;&nbsp;&nbsp;South Orange & Maplewood School District GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1125 | &nbsp;&nbsp; 949 |
|  | &nbsp;&nbsp;&nbsp;South Orange & Maplewood School District GO | 2.250% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 733 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;South Orange & Maplewood School District GO | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1955 | &nbsp;&nbsp; 1457 |
|  | &nbsp;&nbsp;&nbsp;South Orange & Maplewood School District GO | 2.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1550 | &nbsp;&nbsp; 1030 |
|  | &nbsp;&nbsp;&nbsp;South Orange & Maplewood School District GO | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1525 | &nbsp;&nbsp; 1002 |
|  | &nbsp;&nbsp;&nbsp;South Orange & Maplewood School District GO | 2.500% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 3100 | &nbsp;&nbsp; 2130 |
|  | &nbsp;&nbsp;&nbsp;Sussex County Municipal Utilities Authority Resource Recovery Revenue (Landfill Expansion Project) | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 12/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1100 | &nbsp;&nbsp; 873 |
|  | &nbsp;&nbsp;&nbsp;Tenafly School District GO | 3.375% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1670 | &nbsp;&nbsp; 1501 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1225 | &nbsp;&nbsp; 1225 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 2310 | &nbsp;&nbsp; 2379 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1543 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 5750 | &nbsp;&nbsp; 5892 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 4650 | &nbsp;&nbsp; 4746 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 950 | &nbsp;&nbsp; 967 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 2920 | &nbsp;&nbsp; 2964 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 2595 | &nbsp;&nbsp; 2626 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 3100 | &nbsp;&nbsp; 2889 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 8650 | &nbsp;&nbsp; 8733 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp;20000 | &nbsp;&nbsp; 19722 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 6415 | &nbsp;&nbsp; 6150 |
|  | &nbsp;&nbsp;&nbsp;Tobacco Settlement Financing Corp. Tobacco Settlement Funded Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 2845 | &nbsp;&nbsp; 2856 |
|  | &nbsp;&nbsp;&nbsp;Toms River Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1815 | &nbsp;&nbsp; 1561 |
|  | &nbsp;&nbsp;&nbsp;Toms River Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1825 | &nbsp;&nbsp; 1528 |
|  | &nbsp;&nbsp;&nbsp;Toms River Board of Education GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/38 | &nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp; 611 |
|  | &nbsp;&nbsp;&nbsp;Union County Improvement Authority Lease (Non-Terminable) Revenue (Union County Administration Complex Project) | 4.125% | &nbsp;&nbsp;&nbsp;&nbsp; 4/15/54 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2284 |
|  | &nbsp;&nbsp;&nbsp;Union County Township NJ BAN GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 4/2/26 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5039 |
|  | &nbsp;&nbsp;&nbsp;Union Township NJ/Union County GO | 1.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/32 | &nbsp;&nbsp;&nbsp;&nbsp; 1094 | &nbsp;&nbsp; 870 |
|  | &nbsp;&nbsp;&nbsp;Vineland NJ GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 2600 | &nbsp;&nbsp; 2530 |
|  | &nbsp;&nbsp;&nbsp;Vineland NJ GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 2600 | &nbsp;&nbsp; 2504 |
|  | &nbsp;&nbsp;&nbsp;Vineland NJ GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 2300 | &nbsp;&nbsp; 2192 |
|  | &nbsp;&nbsp;&nbsp;Washington NJ Board of Education GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 8/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1140 | &nbsp;&nbsp; 1069 |
|  | &nbsp;&nbsp;&nbsp;West Deptford Township NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 2/15/32 | &nbsp;&nbsp;&nbsp;&nbsp; 640 | &nbsp;&nbsp; 609 |
|  | &nbsp;&nbsp;&nbsp;West Windsor-Plainsboro NJ Regional School District GO | 2.375% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 3325 | &nbsp;&nbsp; 2685 |
|  | &nbsp;&nbsp;&nbsp;Willingboro Township NJ GO | 2.125% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 165 |
|  | &nbsp;&nbsp;&nbsp;Woolwich Township NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1740 | &nbsp;&nbsp; 1519 |
|  | &nbsp;&nbsp;&nbsp;Woolwich Township NJ GO | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 5/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1740 | &nbsp;&nbsp; 1506 |
|  |  |  |  |  | &nbsp;&nbsp;**2314699** |
| **Delaware (0.8%)** | **Delaware (0.8%)** | **Delaware (0.8%)** | **Delaware (0.8%)** | **Delaware (0.8%)** | **Delaware (0.8%)** |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp; 186 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 916 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 897 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp; 184 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 872 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp; 376 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp; 183 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 3.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 847 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp; 181 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp; 653 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp; 159 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp; 678 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp; 179 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 535 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp; 695 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp; 426 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp; 194 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1440 | &nbsp;&nbsp; 1527 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp; 796 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp; 699 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp; 177 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1581 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1054 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1500 | &nbsp;&nbsp; 1573 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 750 | &nbsp;&nbsp; 787 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 1745 | &nbsp;&nbsp; 1819 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 700 | &nbsp;&nbsp; 730 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 900 |
|  | &nbsp;&nbsp;&nbsp;Delaware River & Bay Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/49 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1031 |
|  |  |  |  |  | &nbsp;&nbsp; **20835** |
| **Guam (0.1%)** | **Guam (0.1%)** | **Guam (0.1%)** | **Guam (0.1%)** | **Guam (0.1%)** | **Guam (0.1%)** |
|  | &nbsp;&nbsp;&nbsp;Guam Government Waterworks Authority Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 258 |
|  | &nbsp;&nbsp;&nbsp;Guam Miscellaneous Taxes Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 192 |
|  | &nbsp;&nbsp;&nbsp;Guam Miscellaneous Taxes Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 1780 | &nbsp;&nbsp; 1572 |
|  | &nbsp;&nbsp;&nbsp;Guam Power Authority Electric Power & Light Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 10/1/44 | &nbsp;&nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp; 55 |
|  |  |  |  |  | &nbsp;&nbsp; **2077** |
| **New York (5.3%)** | **New York (5.3%)** | **New York (5.3%)** | **New York (5.3%)** | **New York (5.3%)** | **New York (5.3%)** |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp; 3/1/28 | &nbsp;&nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp; 675 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 5560 | &nbsp;&nbsp; 5835 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/37 | &nbsp;&nbsp;&nbsp;&nbsp; 3140 | &nbsp;&nbsp; 3101 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/39 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 968 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1072 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 3150 | &nbsp;&nbsp; 2979 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/40 | &nbsp;&nbsp;&nbsp;&nbsp; 935 | &nbsp;&nbsp; 894 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 535 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1520 | &nbsp;&nbsp; 1617 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 2555 | &nbsp;&nbsp; 2702 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/42 | &nbsp;&nbsp;&nbsp;&nbsp; 4000 | &nbsp;&nbsp; 4201 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp; 253 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1048 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1730 | &nbsp;&nbsp; 1802 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1046 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/44 | &nbsp;&nbsp;&nbsp;&nbsp; 1310 | &nbsp;&nbsp; 1367 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/45 | &nbsp;&nbsp;&nbsp;&nbsp; 1480 | &nbsp;&nbsp; 1538 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/46 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2209 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/48 | &nbsp;&nbsp;&nbsp;&nbsp; 3315 | &nbsp;&nbsp; 3399 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/49 | &nbsp;&nbsp;&nbsp;&nbsp; 3500 | &nbsp;&nbsp; 3591 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/49 | &nbsp;&nbsp;&nbsp;&nbsp; 6850 | &nbsp;&nbsp; 7031 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/49 | &nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp; 6899 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/50 | &nbsp;&nbsp;&nbsp;&nbsp;11825 | &nbsp;&nbsp; 12124 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/52 | &nbsp;&nbsp;&nbsp;&nbsp; 5000 | &nbsp;&nbsp; 5095 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.250% | &nbsp;&nbsp;&nbsp;&nbsp; 8/1/52 | &nbsp;&nbsp;&nbsp;&nbsp; 2000 | &nbsp;&nbsp; 2061 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/53 | &nbsp;&nbsp;&nbsp;&nbsp; 8000 | &nbsp;&nbsp; 8154 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/53 | &nbsp;&nbsp;&nbsp;&nbsp; 3000 | &nbsp;&nbsp; 3062 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/54 | &nbsp;&nbsp;&nbsp;&nbsp;10000 | &nbsp;&nbsp; 10204 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 9/1/54 | &nbsp;&nbsp;&nbsp;&nbsp; 5170 | &nbsp;&nbsp; 5276 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/15/55 | &nbsp;&nbsp;&nbsp;&nbsp;30745 | &nbsp;&nbsp; 31371 |
|  | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/15/56 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2532 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Port Authority of New York & New Jersey Port, Airport & Marina Revenue TOB VRDO | 3.050% | &nbsp;&nbsp;&nbsp;&nbsp; 6/2/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2135 | &nbsp;&nbsp; 2135 |
|  |  |  |  |  | &nbsp;&nbsp; **136776** |
| **Ohio (0.2%)** | **Ohio (0.2%)** | **Ohio (0.2%)** | **Ohio (0.2%)** | **Ohio (0.2%)** | **Ohio (0.2%)** |
| <sup>12</sup> | &nbsp;&nbsp;&nbsp;Freddie Mac Pool | 3.350% | &nbsp;&nbsp;&nbsp;&nbsp; 6/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 4202 | &nbsp;&nbsp; 3766 |
| **Pennsylvania (2.1%)** | **Pennsylvania (2.1%)** | **Pennsylvania (2.1%)** | **Pennsylvania (2.1%)** | **Pennsylvania (2.1%)** | **Pennsylvania (2.1%)** |
|  | &nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 2250 | &nbsp;&nbsp; 2322 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp; 144 |
| <sup>2</sup> | &nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Highway Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1660 | &nbsp;&nbsp; 1660 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1030 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/34 | &nbsp;&nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp; 143 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp; 185 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 2260 | &nbsp;&nbsp; 2319 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/36 | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp; 163 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 5490 | &nbsp;&nbsp; 5618 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp; 158 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Joint Toll Bridge Commission Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp;17000 | &nbsp;&nbsp; 17135 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Port Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp;12040 | &nbsp;&nbsp; 12043 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Port Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 1040 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Port Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/38 | &nbsp;&nbsp;&nbsp;&nbsp; 3900 | &nbsp;&nbsp; 4042 |
|  | &nbsp;&nbsp;&nbsp;Delaware River Port Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/39 | &nbsp;&nbsp;&nbsp;&nbsp; 3500 | &nbsp;&nbsp; 3617 |

---

------

New Jersey Long-Term Tax-Exempt Fund

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  |  | Coupon | &nbsp;&nbsp;&nbsp;&nbsp;Maturity<br> Date | &nbsp;&nbsp;&nbsp;&nbsp;Face<br> Amount<br> ($000) | &nbsp;&nbsp;Market<br> Value• ($000) |
|  | &nbsp;&nbsp;&nbsp;Delaware River Port Authority Highway Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 1/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 2500 | &nbsp;&nbsp; 2501 |
|  |  |  |  |  | &nbsp;&nbsp; **54120** |
| **Puerto Rico (1.6%)** | **Puerto Rico (1.6%)** | **Puerto Rico (1.6%)** | **Puerto Rico (1.6%)** | **Puerto Rico (1.6%)** | **Puerto Rico (1.6%)** |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico GO | 5.375% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1639 | &nbsp;&nbsp; 1640 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico GO | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp; 1647 | &nbsp;&nbsp; 1690 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico GO | 5.625% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 2546 | &nbsp;&nbsp; 2668 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico GO | 5.750% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 3663 | &nbsp;&nbsp; 3919 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico GO | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 680 | &nbsp;&nbsp; 460 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 2708 | &nbsp;&nbsp; 2603 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 1048 | &nbsp;&nbsp; 989 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 285 | &nbsp;&nbsp; 263 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico GO | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/41 | &nbsp;&nbsp;&nbsp;&nbsp; 1610 | &nbsp;&nbsp; 1379 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp;&nbsp;&nbsp; 1080 | &nbsp;&nbsp; 1106 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 5010 | &nbsp;&nbsp; 5126 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 2250 | &nbsp;&nbsp; 2305 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/35 | &nbsp;&nbsp;&nbsp;&nbsp; 285 | &nbsp;&nbsp; 290 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 780 | &nbsp;&nbsp; 789 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 253 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/37 | &nbsp;&nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp; 71 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue | 4.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/42 | &nbsp;&nbsp;&nbsp;&nbsp; 2260 | &nbsp;&nbsp; 1935 |
| <sup>3</sup> | &nbsp;&nbsp;&nbsp;Puerto Rico Commonwealth Aqueduct & Sewer Authority Water Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/47 | &nbsp;&nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 237 |
|  | &nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp;&nbsp;&nbsp; 1043 | &nbsp;&nbsp; 959 |
|  | &nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp;&nbsp;&nbsp; 602 | &nbsp;&nbsp; 511 |
|  | &nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp;&nbsp;&nbsp; 1001 | &nbsp;&nbsp; 777 |
|  | &nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/33 | &nbsp;&nbsp;&nbsp;&nbsp; 843 | &nbsp;&nbsp; 596 |
|  | &nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 5088 | &nbsp;&nbsp; 4746 |
|  | &nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/40 | &nbsp;&nbsp;&nbsp;&nbsp; 178 | &nbsp;&nbsp; 166 |
|  | &nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/46 | &nbsp;&nbsp;&nbsp;&nbsp; 3480 | &nbsp;&nbsp; 1110 |
|  | &nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.536% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/53 | &nbsp;&nbsp;&nbsp;&nbsp; 1000 | &nbsp;&nbsp; 865 |
|  | &nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.784% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/58 | &nbsp;&nbsp;&nbsp;&nbsp; 1134 | &nbsp;&nbsp; 1015 |
|  | &nbsp;&nbsp;&nbsp;Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 5.000% | &nbsp;&nbsp;&nbsp;&nbsp; 7/1/58 | &nbsp;&nbsp;&nbsp;&nbsp; 4303 | &nbsp;&nbsp; 4036 |
|  |  |  |  |  | &nbsp;&nbsp; **42504** |
| **Total Tax-Exempt Municipal Bonds (Cost $2,712,381)** | **Total Tax-Exempt Municipal Bonds (Cost $2,712,381)** | **Total Tax-Exempt Municipal Bonds (Cost $2,712,381)** | **Total Tax-Exempt Municipal Bonds (Cost $2,712,381)** | **Total Tax-Exempt Municipal Bonds (Cost $2,712,381)** | **2574777** |
| **Taxable Municipal Bonds (0.1%)** | **Taxable Municipal Bonds (0.1%)** | **Taxable Municipal Bonds (0.1%)** | **Taxable Municipal Bonds (0.1%)** | **Taxable Municipal Bonds (0.1%)** | **Taxable Municipal Bonds (0.1%)** |
| **Puerto Rico (0.1%)** | **Puerto Rico (0.1%)** | **Puerto Rico (0.1%)** | **Puerto Rico (0.1%)** | **Puerto Rico (0.1%)** | **Puerto Rico (0.1%)** |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico CVI | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/43 | &nbsp;&nbsp;&nbsp;&nbsp; 2855 | &nbsp;&nbsp; 1713 |
|  | &nbsp;&nbsp;&nbsp;Commonwealth of Puerto Rico CVI | 0.000% | &nbsp;&nbsp;&nbsp;&nbsp; 11/1/51 | &nbsp;&nbsp;&nbsp;&nbsp; 1355 | &nbsp;&nbsp; 830 |
| **Total Taxable Municipal Bonds (Cost $2,631)** | **Total Taxable Municipal Bonds (Cost $2,631)** | **Total Taxable Municipal Bonds (Cost $2,631)** | **Total Taxable Municipal Bonds (Cost $2,631)** | **Total Taxable Municipal Bonds (Cost $2,631)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**2543** |
| **Total Investments (99.8%) (Cost $2,715,012)** | **Total Investments (99.8%) (Cost $2,715,012)** | **Total Investments (99.8%) (Cost $2,715,012)** | **Total Investments (99.8%) (Cost $2,715,012)** | **Total Investments (99.8%) (Cost $2,715,012)** | **2577320** |
| **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | **Other Assets and Liabilities—Net (0.2%)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6013** |
| **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **Net Assets (100%)** | **2583333** |
| Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. | Cost is in $000. |

---

---

| | |
|:---|:---|
| • | See Note A in Notes to Financial Statements. |
| 1 | Scheduled principal and interest payments are guaranteed by Assured Guaranty Municipal Corp. |
| 2 | Scheduled principal and interest payments are guaranteed by Build America Mutual Assurance Co. |
| 3 | Security exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be sold in transactions exempt from registration, normally to qualified institutional buyers. At May 31, 2025, the aggregate value was $62,575, representing 2.4% of net assets. |
| 4 | Scheduled principal and interest payments are guaranteed by Assured Guaranty Corp. |
| 5 | Securities with a value of $720 have been segregated as initial margin for open futures contracts. |
| 6 | Scheduled principal and interest payments are guaranteed by National Public Finance Guarantee Corp. |
| 7 | Scheduled principal and interest payments are guaranteed by bank letter of credit. |
| 8 | Scheduled principal and interest payments are guaranteed by Federal Housing Authority. |
| 9 | Scheduled principal and interest payments are guaranteed by Ambac Assurance Corp. |
| 10 | Scheduled principal and interest payments are guaranteed by Berkshire Hathaway Assurance Corp. |
| 11 | Includes securities purchased on a when-issued or delayed-delivery basis for which the fund has not taken delivery as of May 31, 2025. |
| 12 | The issuer was placed under federal conservatorship in September 2008; since that time, its daily operations have been managed by the Federal Housing Finance Agency and it receives capital from the U.S. Treasury, as needed to maintain a positive net worth, in exchange for senior preferred stock. |
|  | BAN—Bond Anticipation Note. |
|  | CVI—Contingent Value Instruments. |
|  | ETM—Escrowed to Maturity. |
|  | GO—General Obligation Bond. |
|  | Prere.—Prerefunded. |
|  | PUT—Put Option Obligation. |
|  | TOB—Tender Option Bond. |
|  | VRDO—Variable Rate Demand Obligation. |

---

------

New Jersey Long-Term Tax-Exempt Fund

------

#### Derivative Financial Instruments Outstanding as of Period End

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts | Futures Contracts |
|  |  |  | ($000) | ($000) |
|  | Expiration | Number of<br> Long (Short) Contracts | Notional<br> Amount | &nbsp;&nbsp;Value and<br> Unrealized<br> Appreciation<br> (Depreciation) |
| Long Futures Contracts |  |  |  |  |
| 5-Year U.S. Treasury Note | September 2025 | 103 | 11143 | &nbsp;&nbsp;36 |
| Short Futures Contracts |  |  |  |  |
| Ultra Long U.S. Treasury Bond | September 2025 | (120) | (13927) | &nbsp;&nbsp;(93) |
|  |  |  |  | &nbsp;&nbsp;(57) |

---

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Over-the-Counter Swaps - Municipal Market Data Rate Locks | Over-the-Counter Swaps - Municipal Market Data Rate Locks | Over-the-Counter Swaps - Municipal Market Data Rate Locks | Over-the-Counter Swaps - Municipal Market Data Rate Locks | Over-the-Counter Swaps - Municipal Market Data Rate Locks | Over-the-Counter Swaps - Municipal Market Data Rate Locks | Over-the-Counter Swaps - Municipal Market Data Rate Locks |  |  |
| Termination<br> Date | &nbsp;&nbsp;&nbsp;Counterparty | &nbsp;&nbsp;&nbsp;Notional<br> Amount<br> ($000) | &nbsp;&nbsp;&nbsp;Buy/Sell | &nbsp;&nbsp;&nbsp;Reference<br> Index | &nbsp;&nbsp;&nbsp;Strike<br> Rate | &nbsp;&nbsp;&nbsp;Value<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> Appreciation<br> ($000) | &nbsp;&nbsp;&nbsp;Unrealized<br> (Depreciation) ($000) |
| 8/20/25 | &nbsp;&nbsp;&nbsp;RBC | &nbsp;&nbsp;&nbsp;1750 | &nbsp;&nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;30-Year MMD AAA General Obligation Scale | &nbsp;&nbsp;&nbsp;4.480% | &nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;9 | &nbsp;&nbsp;&nbsp;— |
| 4/22/26 | &nbsp;&nbsp;&nbsp;RBC | &nbsp;&nbsp;&nbsp;470 | &nbsp;&nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;5-Year MMD AAA General Obligation Scale | &nbsp;&nbsp;&nbsp;3.460% | &nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;10 | &nbsp;&nbsp;&nbsp;— |
| 4/22/26 | &nbsp;&nbsp;&nbsp;MSCS | &nbsp;&nbsp;&nbsp;350 | &nbsp;&nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;5-Year MMD AAA General Obligation Scale | &nbsp;&nbsp;&nbsp;3.460% | &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;— |
| 4/23/26 | &nbsp;&nbsp;&nbsp;JPMC | &nbsp;&nbsp;&nbsp;1230 | &nbsp;&nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;5-Year MMD AAA General Obligation Scale | &nbsp;&nbsp;&nbsp;3.380% | &nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;21 | &nbsp;&nbsp;&nbsp;— |
| 4/28/26 | &nbsp;&nbsp;&nbsp;MSCS | &nbsp;&nbsp;&nbsp;775 | &nbsp;&nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;30-Year MMD AAA General Obligation Scale | &nbsp;&nbsp;&nbsp;4.700% | &nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;11 | &nbsp;&nbsp;&nbsp;— |
| 4/28/26 | &nbsp;&nbsp;&nbsp;JPMC | &nbsp;&nbsp;&nbsp;515 | &nbsp;&nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;30-Year MMD AAA General Obligation Scale | &nbsp;&nbsp;&nbsp;4.700% | &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;7 | &nbsp;&nbsp;&nbsp;— |
| 4/29/26 | &nbsp;&nbsp;&nbsp;RBC | &nbsp;&nbsp;&nbsp;773 | &nbsp;&nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;30-Year MMD AAA General Obligation Scale | &nbsp;&nbsp;&nbsp;4.650% | &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;— |
| 5/6/26 | &nbsp;&nbsp;&nbsp;RBC | &nbsp;&nbsp;&nbsp;210 | &nbsp;&nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;10-Year MMD AAA General Obligation Scale | &nbsp;&nbsp;&nbsp;3.620% | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;2 | &nbsp;&nbsp;&nbsp;— |
| 5/6/26 | &nbsp;&nbsp;&nbsp;MSCS | &nbsp;&nbsp;&nbsp;195 | &nbsp;&nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;10-Year MMD AAA General Obligation Scale | &nbsp;&nbsp;&nbsp;3.640% | &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;3 | &nbsp;&nbsp;&nbsp;— |
| 5/19/26 | &nbsp;&nbsp;&nbsp;RBC | &nbsp;&nbsp;&nbsp;340 | &nbsp;&nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;15-Year MMD AAA General Obligation Scale | &nbsp;&nbsp;&nbsp;4.060% | &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;— |
| 5/19/26 | &nbsp;&nbsp;&nbsp;MSCS | &nbsp;&nbsp;&nbsp;312 | &nbsp;&nbsp;&nbsp;Buy | &nbsp;&nbsp;&nbsp;15-Year MMD AAA General Obligation Scale | &nbsp;&nbsp;&nbsp;4.060% | &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;1 | &nbsp;&nbsp;&nbsp;— |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;— |

---

JPMC—JPMorgan Chase Bank, N.A. <br> MSCS—Morgan Stanley Capital Services LLC. <br> RBC—Royal Bank of Canada.

See accompanying Notes, which are an integral part of the Financial Statements.

------

New Jersey Long-Term Tax-Exempt Fund

Statement of Assets and Liabilities

As of May 31, 2025

---

| | |
|:---|:---|
| ($000s, except shares and per-share amounts) | &nbsp;&nbsp;&nbsp;&nbsp;Amount |
| **Assets** |  |
| Investments in Securities, at Value—Unaffiliated Issuers (Cost $2,715,012) | 2577320 |
| Investment in Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;70 |
| Cash | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10145 |
| Receivables for Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745 |
| Receivables for Accrued Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;38888 |
| Receivables for Capital Shares Issued | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4821 |
| Variation Margin Receivable—Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;28 |
| Unrealized Appreciation—Over-the-Counter Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 |
| Other Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102 |
| **Total Assets** | **2632194** |
| **Liabilities** |  |
| Payables for Investment Securities Purchased | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45052 |
| Payables for Capital Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1516 |
| Payables for Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2185 |
| Payables to Vanguard | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;108 |
| **Total Liabilities** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**48861** |
| **Net Assets** | **2583333** |
| **At May 31, 2025, net assets consisted of:** |  |
| Paid-in Capital | 2767670 |
| Total Distributable Earnings (Loss) | &nbsp;&nbsp;&nbsp;(184337) |
| **Net Assets** | **2583333** |
| **Investor Shares—Net Assets** |  |
| **Applicable to 27,109,069 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | &nbsp;&nbsp;&nbsp;&nbsp;**296969** |
| **Net Asset Value Per Share—Investor Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$10.95** |
| **Admiral™ Shares—Net Assets** |  |
| **Applicable to 208,712,572 outstanding $.001 par value shares of<br> beneficial interest (unlimited authorization)** | **2286364** |
| **Net Asset Value Per Share—Admiral Shares** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**$10.95** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

New Jersey Long-Term Tax-Exempt Fund

Statement of Operations

---

| | |
|:---|:---|
|  | Six Months Ended<br> May 31, 2025 |
|  | ($000) |
| **Investment Income** |  |
| **Income** |  |
| Interest | &nbsp;&nbsp;&nbsp;47809 |
| Total Income | &nbsp;&nbsp;&nbsp;47809 |
| **Expenses** |  |
| The Vanguard Group—Note B |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment Advisory Services | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Management and Administrative—Admiral Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marketing and Distribution—Admiral Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;61 |
| Custodian Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| Shareholders' Reports and Proxy Fees—Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6 |
| Shareholders' Reports and Proxy Fees—Admiral Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11 |
| Trustees' Fees and Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1 |
| Other Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7 |
| Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;1250 |
| Expenses Paid Indirectly | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) |
| Net Expenses | &nbsp;&nbsp;&nbsp;&nbsp;1244 |
| **Net Investment Income** | &nbsp;&nbsp;&nbsp;**46565** |
| **Realized Net Gain (Loss)** |  |
| Investment Securities Sold | &nbsp;&nbsp;&nbsp;&nbsp;(9070) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;491 |
| **Realized Net Gain (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;**(8579)** |
| **Change in Unrealized Appreciation (Depreciation)** |  |
| Investment Securities | (129378) |
| Futures Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(80) |
| Swap Contracts | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75 |
| **Change in Unrealized Appreciation (Depreciation)** | **(129383)** |
| **Net Increase (Decrease) in Net Assets Resulting from Operations** | &nbsp;&nbsp;**(91397)** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

New Jersey Long-Term Tax-Exempt Fund

Statement of Changes in Net Assets

---

| | | |
|:---|:---|:---|
|  | Six Months Ended<br> May 31,<br> 2025 | &nbsp;&nbsp;&nbsp;Year Ended<br> November 30,<br> 2024 |
|  | ($000) | &nbsp;&nbsp;&nbsp;($000) |
| **Increase (Decrease) in Net Assets** |  |  |
| **Operations** |  |  |
| Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46565 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87115 |
| Realized Net Gain (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(8579) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3145) |
| Change in Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;(129383) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75953 |
| Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;(91397) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;159923 |
| **Distributions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5234) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9547) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Admiral Shares | &nbsp;&nbsp;&nbsp;&nbsp;(40514) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(76193) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(45748) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85740) |
| **Capital Share Transactions** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Admiral Shares | &nbsp;&nbsp;&nbsp;&nbsp;103523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;135908 |
| Net Increase (Decrease) from Capital Share Transactions | &nbsp;&nbsp;&nbsp;&nbsp;118185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;158071 |
| Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;(18960) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232254 |
| **Net Assets** |  |  |
| **Beginning of Period** | **2602293** | &nbsp;&nbsp;&nbsp;**2370039** |
| **End of Period** | **2583333** | &nbsp;&nbsp;&nbsp;**2602293** |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

New Jersey Long-Term Tax-Exempt Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investor Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> May 31,<br> 2025 | &nbsp;&nbsp;&nbsp;Year Ended November 30, | &nbsp;&nbsp;&nbsp;Year Ended November 30, | &nbsp;&nbsp;&nbsp;Year Ended November 30, | &nbsp;&nbsp;&nbsp;Year Ended November 30, | &nbsp;&nbsp;&nbsp;Year Ended November 30, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> May 31,<br> 2025 | 2024 | 2023 | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 |
| **Net Asset Value, Beginning of Period** | **$11.55** | &nbsp;&nbsp;&nbsp;**$11.21** | &nbsp;&nbsp;&nbsp;**$11.06** | &nbsp;&nbsp;&nbsp;**$12.75** | &nbsp;&nbsp;&nbsp;**$12.66** | &nbsp;&nbsp;&nbsp;**$12.49** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.200 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.393 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.376 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.345 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.342 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.375 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;(.603) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.146 | &nbsp;&nbsp;&nbsp;&nbsp;(1.614) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.190 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.242 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;(.403) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.726 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.522 | &nbsp;&nbsp;&nbsp;&nbsp;(1.269) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.532 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.617 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(.197) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.386) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.372) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.344) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.342) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.375) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.077) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.100) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.072) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(.197) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.386) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.372) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.421) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.442) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.447) |
| **Net Asset Value, End of Period** | **$10.95** | &nbsp;&nbsp;&nbsp;**$11.55** | &nbsp;&nbsp;&nbsp;**$11.21** | &nbsp;&nbsp;&nbsp;**$11.06** | &nbsp;&nbsp;&nbsp;**$12.75** | &nbsp;&nbsp;&nbsp;**$12.66** |
| **Total Return<sup>2</sup>** | **-3.52%** | &nbsp;&nbsp;&nbsp;**6.58%** | &nbsp;&nbsp;&nbsp;**4.81%** | &nbsp;&nbsp;&nbsp;**-10.06%** | &nbsp;&nbsp;&nbsp;**4.26%** | &nbsp;&nbsp;&nbsp;**5.07%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $297 | &nbsp;&nbsp;&nbsp;$298 | &nbsp;&nbsp;&nbsp;$268 | &nbsp;&nbsp;&nbsp;$250 | &nbsp;&nbsp;&nbsp;$305 | &nbsp;&nbsp;&nbsp;$281 |
| Ratio of Total Expenses to Average Net Assets | 0.15%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.17%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.17%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.17%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.17% | &nbsp;&nbsp;&nbsp;0.17% |
| Ratio of Net Investment Income to Average Net Assets | 3.58% | &nbsp;&nbsp;&nbsp;3.44% | &nbsp;&nbsp;&nbsp;3.39% | &nbsp;&nbsp;&nbsp;2.99% | &nbsp;&nbsp;&nbsp;2.68% | &nbsp;&nbsp;&nbsp;3.04% |
| Portfolio Turnover Rate | 15% | &nbsp;&nbsp;&nbsp;41% | &nbsp;&nbsp;&nbsp;36% | &nbsp;&nbsp;&nbsp;38% | &nbsp;&nbsp;&nbsp;23% | &nbsp;&nbsp;&nbsp;31% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
| 3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.15%, 0.17%, 0.17%, and 0.17%, respectively. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

New Jersey Long-Term Tax-Exempt Fund

Financial Highlights

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Admiral Shares** |  |  |  |  |  |  |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> May 31,<br> 2025 | &nbsp;&nbsp;&nbsp;Year Ended November 30, | &nbsp;&nbsp;&nbsp;Year Ended November 30, | &nbsp;&nbsp;&nbsp;Year Ended November 30, | &nbsp;&nbsp;&nbsp;Year Ended November 30, | &nbsp;&nbsp;&nbsp;Year Ended November 30, |
| For a Share Outstanding<br> Throughout Each Period | Six Months<br> Ended<br> May 31,<br> 2025 | 2024 | 2023 | &nbsp;&nbsp;&nbsp;2022 | &nbsp;&nbsp;&nbsp;2021 | &nbsp;&nbsp;&nbsp;2020 |
| **Net Asset Value, Beginning of Period** | **$11.55** | &nbsp;&nbsp;&nbsp;**$11.21** | &nbsp;&nbsp;&nbsp;**$11.06** | &nbsp;&nbsp;&nbsp;**$12.75** | &nbsp;&nbsp;&nbsp;**$12.66** | &nbsp;&nbsp;&nbsp;**$12.49** |
| **Investment Operations** |  |  |  |  |  |  |
| Net Investment Income<sup>1</sup> | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.204 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.402 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.354 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.385 |
| Net Realized and Unrealized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;(.604) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.333 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.146 | &nbsp;&nbsp;&nbsp;&nbsp;(1.614) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.189 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.242 |
| Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;(.400) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.735 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.531 | &nbsp;&nbsp;&nbsp;&nbsp;(1.260) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;.627 |
| **Distributions** |  |  |  |  |  |  |
| Dividends from Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;(.200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.395) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.381) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.353) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.352) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.385) |
| Distributions from Realized Capital Gains |  | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.077) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.100) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.072) |
| Total Distributions | &nbsp;&nbsp;&nbsp;&nbsp;(.200) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.395) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.381) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.430) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.452) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(.457) |
| **Net Asset Value, End of Period** | **$10.95** | &nbsp;&nbsp;&nbsp;**$11.55** | &nbsp;&nbsp;&nbsp;**$11.21** | &nbsp;&nbsp;&nbsp;**$11.06** | &nbsp;&nbsp;&nbsp;**$12.75** | &nbsp;&nbsp;&nbsp;**$12.66** |
| **Total Return<sup>2</sup>** | **-3.49%** | &nbsp;&nbsp;&nbsp;**6.66%** | &nbsp;&nbsp;&nbsp;**4.89%** | &nbsp;&nbsp;&nbsp;**-9.99%** | &nbsp;&nbsp;&nbsp;**4.34%** | &nbsp;&nbsp;&nbsp;**5.16%** |
| **Ratios/Supplemental Data** |  |  |  |  |  |  |
| Net Assets, End of Period (Millions) | $2286 | &nbsp;&nbsp;&nbsp;$2304 | &nbsp;&nbsp;&nbsp;$2102 | &nbsp;&nbsp;&nbsp;$1997 | &nbsp;&nbsp;&nbsp;$2453 | &nbsp;&nbsp;&nbsp;$2268 |
| Ratio of Total Expenses to Average Net Assets | 0.09%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.09%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.09%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.09%<sup>3</sup> | &nbsp;&nbsp;&nbsp;0.09% | &nbsp;&nbsp;&nbsp;0.09% |
| Ratio of Net Investment Income to Average Net Assets | 3.64% | &nbsp;&nbsp;&nbsp;3.52% | &nbsp;&nbsp;&nbsp;3.47% | &nbsp;&nbsp;&nbsp;3.07% | &nbsp;&nbsp;&nbsp;2.76% | &nbsp;&nbsp;&nbsp;3.12% |
| Portfolio Turnover Rate | 15% | &nbsp;&nbsp;&nbsp;41% | &nbsp;&nbsp;&nbsp;36% | &nbsp;&nbsp;&nbsp;38% | &nbsp;&nbsp;&nbsp;23% | &nbsp;&nbsp;&nbsp;31% |
| The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. | The expense ratio and net investment income ratio for the current period have been annualized. |

---

---

| | |
|:---|:---|
| 1 | Calculated based on average shares outstanding. |
| 2 | Total returns do not include account service fees that may have applied in the periods shown. Fund prospectuses provide information about any applicable account service fees. |
| 3 | The ratio of expenses to average net assets for the period net of reduction from custody fee offset arrangements was 0.09%. |

---

See accompanying Notes, which are an integral part of the Financial Statements.

------

New Jersey Long-Term Tax-Exempt Fund

Notes to Financial Statements

Vanguard New Jersey Long-Term Tax-Exempt Fund is registered under the Investment Company Act of 1940 as an open-end investment company, or mutual fund. The fund offers two classes of shares: Investor Shares and Admiral Shares. Each of the share classes has different eligibility and minimum purchase requirements, and is designed for different types of investors.

**A.** The following significant accounting policies conform to generally accepted accounting principles for U.S. investment companies. The fund consistently follows such policies in preparing its financial statements.

1. Security Valuation: Securities are valued as of the close of trading on the New York Stock Exchange (generally 4 p.m., Eastern time) on the valuation date. Bonds and other temporary cash investments are valued using the latest bid prices or using valuations based on a matrix system (which considers such factors as security prices, yields, maturities, and ratings), both as furnished by independent pricing services. Securities for which market quotations are not readily available, or whose values have been affected by events occurring before the fund's pricing time but after the close of the securities' primary markets, are valued by methods deemed by the valuation designee to represent fair value and subject to oversight by the board of trustees.

2. Futures Contracts: The fund uses futures contracts to invest in fixed income asset classes with greater efficiency and lower cost than is possible through direct investment, to add value when these instruments are attractively priced, or to adjust sensitivity to changes in interest rates. The primary risks associated with the use of futures contracts are imperfect correlation between changes in market values of bonds held by the fund and the prices of futures contracts, and the possibility of an illiquid market. Counterparty risk involving futures is mitigated because a regulated clearinghouse is the counterparty instead of the clearing broker. To further mitigate counterparty risk, the fund trades futures contracts on an exchange, monitors the financial strength of its clearing brokers and clearinghouse, and has entered into clearing agreements with its clearing brokers. The clearinghouse imposes initial margin requirements to secure the fund's performance and requires daily settlement of variation margin representing changes in the market value of each contract. Any securities pledged as initial margin for open contracts are noted in the Schedule of Investments.

Futures contracts are valued at their quoted daily settlement prices. The notional amounts of the contracts are not recorded in the Statement of Assets and Liabilities. Fluctuations in the value of the contracts are recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are closed, when they are recorded as realized gains (losses) on futures contracts.

During the six months ended May 31, 2025, the fund's average investments in long and short futures contracts represented 1% and less than 1% of net assets, respectively, based on the average of the notional amounts at each quarter-end during the period.

3. MMD Rate Locks: The fund enters into Municipal Market Data (MMD) Rate Lock contracts to lock in a specified municipal interest rate for a portion of the fund to preserve a return on a particular investment or a portion of the fund as a duration management technique or to protect against market interest rate risk for anticipated purchase of municipal bonds. Under the terms of the contracts, both parties agree to make payments to each other on a notional amount, contingent upon whether the reference index rate is above or below a strike rate on the termination date of the contract. The fund may buy (long) an MMD Rate Lock and if the referenced MMD AAA Index is below the strike rate on the termination date, the counterparty will make a payment to the fund. If the MMD AAA Index is above the strike rate on the termination date, the fund will make a payment to the counterparty. The fund may also sell (short) an MMD Rate Lock. The contract terms of a short position will move in the opposite direction as a long position.

The primary risk associated with MMD rate locks is that municipal yields will move in the opposite direction than anticipated by a fund, which would cause the fund to make payments to its counterparty in the transaction that could adversely affect the fund's performance. A risk associated with all types of swaps is the possibility that a counterparty may default on its obligation to pay net amounts due to the fund. The fund's maximum amount subject to counterparty risk is the unrealized appreciation on the swap contract. The fund mitigates its counterparty risk by entering into swaps only with a diverse group of prequalified counterparties, monitoring their financial strength, entering into master netting arrangements with its counterparties, and requiring its counterparties to transfer collateral as security for their performance. In the absence of a default, the collateral pledged or received by the fund cannot be repledged, resold, or rehypothecated. In the event of a counterparty's default (including bankruptcy), the fund may terminate any swap contracts with that counterparty, determine the net amount owed by either party in accordance with its master netting arrangements, and sell or retain any collateral held up to the net amount owed to the fund under the master netting arrangements. The swap contracts contain provisions whereby a counterparty may terminate open contracts if the fund's net assets decline below a certain level, triggering a payment by the fund if the fund is in a net liability position at the time of the termination. The payment amount would be reduced by any collateral the fund has pledged. Any securities pledged as collateral for open contracts are noted in the Schedule of Investments. The value of collateral received or pledged is compared daily to the value of the swap contracts exposure with each counterparty, and any difference, if in excess of a specified minimum transfer amount, is adjusted and settled within two business days.

The notional amounts of swap contracts are not recorded in the Statement of Assets and Liabilities. MMD rate locks are valued daily based on market quotations received from independent pricing services or recognized dealers and the change in value is recorded in the Statement of Assets and Liabilities as an asset (liability) and in the Statement of Operations as unrealized appreciation (depreciation) until the contracts are terminated, at which time realized gain (loss) is recorded.

During the six months ended May 31, 2025, the fund's average amount of investments in MMD rate locks represented less than 1% of net assets, based on the average of notional amounts at each quarter-end during the period.

4. Federal Income Taxes: The fund intends to continue to qualify as a regulated investment company and distribute virtually all of its income. The fund's tax returns are open to examination by the relevant tax authorities until expiration of the applicable statute of limitations, which is generally three years after the filing of the tax return. Management has analyzed the fund's tax positions taken for all open federal and state income tax years, and has concluded that no provision for income tax is required in the fund's financial statements.

------

New Jersey Long-Term Tax-Exempt Fund

5. Distributions: Distributions from net investment income are declared daily and paid on the first business day of the following month. Annual distributions from realized capital gains, if any, are recorded on the ex-dividend date. Distributions are determined on a tax basis at the fiscal year-end and may differ from net investment income and realized capital gains for financial reporting purposes.

6. Credit Facilities and Interfund Lending Program: The fund and certain other funds managed by The Vanguard Group ("Vanguard") participate in a $4.3 billion committed credit facility provided by a syndicate of lenders pursuant to a credit agreement and an uncommitted credit facility provided by Vanguard. Both facilities may be renewed annually. Each fund is individually liable for its borrowings, if any, under the credit facilities. Borrowings may be utilized for temporary or emergency purposes and are subject to the fund's regulatory and contractual borrowing restrictions. With respect to the committed credit facility, the participating funds are charged administrative fees and an annual commitment fee of 0.10% of the undrawn committed amount of the facility, which are allocated to the funds based on a method approved by the fund's board of trustees and included in Management and Administrative expenses on the fund's Statement of Operations. Any borrowings under either facility bear interest at an agreed-upon spread plus the higher of the federal funds effective rate, the overnight bank funding rate, or the Daily Simple Secured Overnight Financing Rate inclusive of an additional agreed-upon spread. However, borrowings under the uncommitted credit facility may bear interest based upon an alternate rate agreed to by the fund and Vanguard.

In accordance with an exemptive order (the "Order") from the SEC, the fund may participate in a joint lending and borrowing program that allows registered open-end Vanguard funds to borrow money from and lend money to each other for temporary or emergency purposes (the "Interfund Lending Program"), subject to compliance with the terms and conditions of the Order, and to the extent permitted by the fund's investment objective and investment policies. Interfund loans and borrowings normally extend overnight but can have a maximum duration of seven days. Loans may be called on one business day's notice. The interest rate to be charged is governed by the conditions of the Order and internal procedures adopted by the board of trustees. The board of trustees is responsible for overseeing the Interfund Lending Program.

For the six months ended May 31, 2025, the fund did not utilize the credit facilities or the Interfund Lending Program.

7. Other: Interest income is accrued daily. Premiums and discounts on debt securities are amortized and accreted, respectively, to interest income over the lives of the respective securities, except for premiums on certain callable debt securities that are amortized to the earliest call date. Security transactions are accounted for on the date securities are bought or sold. Costs used to determine realized gains (losses) on the sale of investment securities are those of the specific securities sold.

Each class of shares has equal rights as to assets and earnings, except that each class separately bears certain class-specific expenses related to maintenance of shareholder accounts (included in Management and Administrative expenses), shareholder reporting, and proxy fees. Marketing and distribution expenses are allocated to each class of shares based on a method approved by the board of trustees. Income, other non-class-specific expenses, and gains and losses on investments are allocated to each class of shares based on its relative net assets.

**B.** In accordance with the terms of a Funds' Service Agreement (the "FSA") between Vanguard and the fund, Vanguard furnishes to the fund investment advisory, corporate management, administrative, marketing,
and distribution services at Vanguard's cost of operations (as defined by the FSA). These costs of operations are allocated to the fund based on methods and guidelines approved by the board of trustees and are
generally settled twice a month.

Upon the request of Vanguard, the fund may invest up to 0.40% of its net assets as capital in Vanguard. At May 31, 2025, the fund had contributed to Vanguard capital in the amount of $70,000, representing less than 0.01% of the fund's net assets and 0.03% of Vanguard's capital received pursuant to the FSA. The fund's trustees and officers are also directors and employees, respectively, of Vanguard.

**C.** The fund's custodian bank has agreed to reduce its fees when the fund maintains cash on deposit in the non-interest-bearing custody account. For the six months ended May 31, 2025, custodian fee offset
arrangements reduced the fund's expenses by $6,000 (an annual rate of less than 0.01% of average net assets).

**D.** Various inputs may be used to determine the value of the fund's investments and derivatives. These inputs are summarized in three broad levels for financial statement purposes.
The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

#### Level 1 —Quoted prices in active markets for identical securities.

#### Level 2 —Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
**Level 3—Significant unobservable inputs (including the fund's own assumptions used to determine the fair value of investments). Any investments and derivatives valued with significant unobservable inputs are noted on the Schedule of Investments.**

------

New Jersey Long-Term Tax-Exempt Fund

The following table summarizes the market value of the fund's investments and derivatives as of May 31, 2025, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Level 1<br> ($000) | &nbsp;&nbsp;&nbsp;Level 2<br> ($000) | &nbsp;&nbsp;&nbsp;Level 3<br> ($000) | &nbsp;&nbsp;&nbsp;Total<br> ($000) |
| **Investments** |  |  |  |  |
| Assets |  |  |  |  |
| Tax-Exempt Municipal Bonds |  | &nbsp;&nbsp;&nbsp;2574777 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2574777 |
| Taxable Municipal Bonds |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543 |
| Total |  | &nbsp;&nbsp;&nbsp;2577320 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;2577320 |
| **Derivative Financial Instruments** |  |  |  |  |
| Assets |  |  |  |  |
| Futures Contracts<sup>1</sup> | &nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;36 |
| Swap Contracts | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;75 |
| Total | &nbsp;&nbsp;&nbsp;36 | &nbsp;&nbsp;&nbsp;75 | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;111 |
| Liabilities |  |  |  |  |
| Futures Contracts<sup>1</sup> | (93) | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;(93) |

---

1 Includes cumulative appreciation (depreciation) on futures contracts and centrally cleared swaps, if any, as reported in the Schedule of Investments. Only current day's variation margin is reported within the Statement of Assets and Liabilities.

**E.** As of May 31, 2025, gross unrealized appreciation and depreciation for investments and derivatives based on cost for U.S. federal income tax purposes were as follows:

---

| | |
|:---|:---|
|  | &nbsp;&nbsp;&nbsp;Amount<br> ($000) |
| Tax Cost | &nbsp;&nbsp;&nbsp;2717055 |
| Gross Unrealized Appreciation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7732 |
| Gross Unrealized Depreciation | &nbsp;&nbsp;&nbsp;&nbsp;(147449) |
| Net Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;&nbsp;&nbsp;(139717) |

---

The fund's tax-basis capital gains and losses are determined only at the end of each fiscal year. For tax purposes, at November 30, 2024, the fund had available capital losses totaling $40,281,000 that may be carried forward indefinitely to offset future net capital gains. The fund will use these capital losses to offset net taxable capital gains, if any, realized during the year ending November 30, 2025; should the fund realize net capital losses for the year, the losses will be added to the loss carryforward balance above.

**F.** During the six months ended May 31, 2025, the fund purchased $516,629,000 of investment securities and sold $377,197,000 of investment securities, other than temporary cash investments.

The fund purchased securities from and sold securities to other Vanguard funds or accounts managed by Vanguard or its affiliates, in accordance with procedures adopted by the board of trustees in compliance with Rule 17a-7 of the Investment Company Act of 1940. For the six months ended May 31, 2025, such purchases were $42,315,000 and sales were $0; these amounts, other than temporary cash investments, are included in the purchases and sales of investment securities noted above.

**G.** Capital share transactions for each class of shares were:

&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | Six Months Ended<br> May 31, 2025 | Six Months Ended<br> May 31, 2025 | &nbsp;&nbsp;&nbsp;Year Ended<br> November 30, 2024 | &nbsp;&nbsp;&nbsp;Year Ended<br> November 30, 2024 |
|  | Amount<br> ($000) | &nbsp;&nbsp;Shares<br> (000) | &nbsp;&nbsp;Amount<br> ($000) | &nbsp;&nbsp;Shares<br> (000) |
| **Investor Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;&nbsp;&nbsp;67886 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6048 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;93624 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8207 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4468 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;398 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8047 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;706 |
| Redeemed | &nbsp;&nbsp;(57692) | &nbsp;&nbsp;&nbsp;&nbsp;(5158) | &nbsp;&nbsp;&nbsp;&nbsp;(79508) | &nbsp;&nbsp;&nbsp;&nbsp;(6989) |
| Net Increase (Decrease)—Investor Shares | &nbsp;&nbsp;&nbsp;&nbsp;14662 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22163 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1924 |
| **Admiral Shares** |  |  |  |  |
| Issued | &nbsp;&nbsp;296732 | &nbsp;&nbsp;&nbsp;&nbsp;26550 | &nbsp;&nbsp;&nbsp;&nbsp;346683 | &nbsp;&nbsp;&nbsp;&nbsp;30411 |
| Issued in Lieu of Cash Distributions | &nbsp;&nbsp;&nbsp;&nbsp;28223 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2516 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;53046 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4652 |
| Redeemed | (221432) | &nbsp;&nbsp;(19828) | &nbsp;&nbsp;(263821) | &nbsp;&nbsp;(23166) |
| Net Increase (Decrease)—Admiral Shares | &nbsp;&nbsp;103523 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9238 | &nbsp;&nbsp;&nbsp;&nbsp;135908 | &nbsp;&nbsp;&nbsp;&nbsp;11897 |

---

**H.** Significant market disruptions, such as those caused by pandemics, natural or environmental disasters, war, acts of terrorism, political or regulatory conditions, or other events, can adversely affect local and
global markets and normal market operations. Any such disruptions could have an adverse impact on the value of the fund's investments and fund performance.

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New Jersey Long-Term Tax-Exempt Fund

To the extent the fund's investment portfolio reflects concentration in a particular market, industry, sector, country or asset class, the fund may be adversely affected by the performance of these concentrations and may be subject to increased price volatility and other risks.

Credit risk is the risk that a counterparty to a transaction or an issuer of a financial instrument will fail to pay interest and principal when due, or that perceptions of the issuer's ability to make such payments will cause the price of an investment to decline. Investment in debt securities will generally increase credit risk.

The use of derivatives may expose the fund to various risks. Derivatives can be highly volatile, and any initial investment is generally small relative to the notional amount so that transactions may be leveraged in terms of market exposure. A relatively small market movement may have a potentially larger impact on derivatives than on standard securities. Leveraged derivatives positions can, therefore, increase volatility. Additional information regarding the fund's use of derivative(s) and the specific risks associated is described under significant accounting policies.

**I.** The fund adopted Accounting Standards Update 2023-07, Segment Reporting - Improvements to Reportable Segment Disclosures. The new guidance did not change how the fund identifies operating segments but did require
incremental disclosure of information not previously required. Operating segments are components of an entity that engage in business activities, have discrete financial information available, and have their operating
results regularly reviewed by a chief operating decision maker ("CODM"). The fund is considered a single segment. Vanguard's chief executive officer, chief investment officer, and chief financial
officer, who are also officers of the fund, as well as the fund's chief financial officer collectively act as the CODM. Vanguard has established various management committees to assist the CODM with overseeing
aspects of the fund's daily operations. Through these committees, the CODM manages the fund's operations to achieve a single investment objective, as detailed in its prospectus, through the execution of
the fund's investment strategies. When assessing segment performance and making decisions about segment resources, the CODM relies on the fund's portfolio composition, total returns, expense ratios and
changes in net assets which are consistent with the information contained in the fund's financial statements. Segment assets, liabilities, income, and expenses are also detailed in the accompanying financial
statements.

**J.** Management has determined that no subsequent events or transactions occurred through the date the financial statements were issued that would require recognition or disclosure in
these financial statements.

Q142 072025

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**Item 8: Changes in and Disagreements with Accountants for Open-End Management Investment Companies.**

Not applicable.

**Item 9: Proxy Disclosures for Open-End Management Investment Companies.**

At a special meeting of shareholders on February 26, 2025, shareholders of Vanguard New Jersey Tax-Free Funds (the "Trust") approved the following proposal:

Proposal 1—Elect Trustees for each fund.\*

The individuals listed in the table below were elected as Trustees. All Trustees with the exception of Mr. Murphy; Ms. Patterson; Mr. Ramji; and Ms. Venneman, served as Trustees prior to the shareholder meeting. Each vote reported below represents one dollar of the total combined net asset value of the Trust's shares held on the record date of November 26, 2024.

---

| | | | | |
|:---|:---|:---|:---|:---|
| Trustee | Votes For | Votes Withheld | Abstained | Broker<br> Non-Votes |
| Tara Bunch | 2173198274 | 40579384 | N/A | N/A |
| Mark Loughridge | 2163082823 | 50694835 | N/A | N/A |
| Scott C. Malpass | 2172916474 | 40861185 | N/A | N/A |
| John Murphy | 2164259692 | 49517967 | N/A | N/A |
| Lubos Pastor | 2172986475 | 40791183 | N/A | N/A |
| Rebecca Patterson | 2174943712 | 38833946 | N/A | N/A |
| André F. Perold | 2164403563 | 49374096 | N/A | N/A |
| Salim Ramji | 2169971234 | 43806425 | N/A | N/A |
| Sarah Bloom Raskin | 2167176539 | 46601120 | N/A | N/A |
| Grant Reid | 2176546713 | 37230946 | N/A | N/A |
| David Thomas | 2175298195 | 38479464 | N/A | N/A |
| Barbara Venneman | 2172920164 | 40857495 | N/A | N/A |
| Peter F. Volanakis | 2162250402 | 51527257 | N/A | N/A |

---

\* Results are for all funds within the same Trust.

**Item 10: Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.**

Not applicable. The Trustees' Fees and Expenses are included in the financial statements filed under Item 7 of this Form.

**Item 11: Statement Regarding Basis for Approval of Investment Advisory Contracts.**

**Trustees Approve Advisory Arrangement**

The board of trustees of Vanguard New Jersey Long-Term Tax-Exempt Fund has renewed the fund's investment advisory arrangement with The Vanguard Group, Inc. (Vanguard), through its Fixed Income Group. The board determined that continuing the fund's internalized management structure was in the best interests of the fund and its shareholders.

The board based its decision upon an evaluation of the advisor's investment staff, portfolio management process, and performance. This evaluation included information provided to the board by Vanguard's Oversight and Manager Search team, which is responsible for fund and advisor oversight and product management. The Oversight and Manager Search team met regularly with the advisor and made presentations to the board during the fiscal year that directed the board's focus to relevant information and topics.

The board, or an investment committee made up of board members, also received information throughout the year during advisor presentations conducted by the Oversight and Manager search team. For each advisor presentation, the board was provided with letters and reports that included information about, among other things, the advisory firm and the advisor's assessment of the investment environment, portfolio performance, and portfolio characteristics.

In addition, the board received periodic reports throughout the year, which included information about the fund's performance relative to its peers and benchmark, as applicable, and updates, as needed, on the Oversight and Manager Search team's ongoing assessment of the advisor.

Prior to their meeting, the trustees were provided with a memo and materials that summarized the information they received over the course of the year. They also considered the factors discussed below, among others. However, no single factor determined whether the board approved the arrangements. Rather, it was the totality of the circumstances that drove the board's decision.

**Nature, extent, and quality of services**

The board reviewed the quality of the fund's investment management services over both the short and long term, and took into account the organizational depth and stability of the advisor. The board considered that Vanguard has been managing investments for more than four decades. The Fixed Income Group adheres to a sound, disciplined investment management process; the team has considerable experience, stability, and depth.

The board concluded that Vanguard's experience, stability, depth, and performance, among other factors, warranted continuation of the advisory arrangement.

**Investment performance**

The board considered the short- and long-term performance of the fund, including any periods of outperformance or underperformance compared with a relevant benchmark index and peer group. The board concluded that the performance was such that the advisory arrangement should continue.

**Cost**

The board concluded that the fund's expense ratio was below the average expense ratio charged by funds in its peer group and that the fund's advisory expenses were also below the peer-group average.

The board does not conduct a profitability analysis of Vanguard because of Vanguard's unique structure. Unlike most other mutual fund management companies, Vanguard is owned by the funds it oversees.

**The benefit of economies of scale**

The board concluded that the fund's arrangement with Vanguard ensures that the fund will realize economies of scale as it grows, with the cost to shareholders declining as fund assets increase.

The board will consider whether to renew the advisory arrangement again after a one-year period.

**Item 12: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.**

Not applicable.

**Item 13: Portfolio Managers of Closed-End Management Investment Companies.**

Not applicable.

**Item 14**: **Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.**

Not applicable.

**Item 15**: **Submission of Matters to a Vote of Security Holders.**

Not applicable.

**Item 16**: **Controls and Procedures.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant's Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Internal Control Over Financial Reporting. There were no changes 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.

**Item 17**: **Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.**

Not applicable.

**Item 18: Recovery of Erroneously Awarded Compensation.**

Not applicable.

**Item 19: Exhibits.**

(a)(1) Not applicable.

[(a)(2) Certifications filed herewith.](tm2517409d3_ex99-cert.htm)

[(a)(2) Certifications filed herewith.](tm2517409d3_ex99-906cert.htm)

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.

VANGUARD NEW JERSEY TAX-FREE FUNDS

---

| | |
|:---|:---|
| BY: | /s/ SALIM RAMJI\* |
|  | &nbsp;&nbsp;&nbsp;&nbsp;SALIM RAMJI |
|  | CHIEF EXECUTIVE OFFICER |

---

Date: July 22, 2025

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.

VANGUARD NEW JERSEY TAX-FREE FUNDS

---

| | |
|:---|:---|
| BY: | /s/ SALIM RAMJI\* |
|  | &nbsp;&nbsp;&nbsp;&nbsp;SALIM RAMJI |
|  | CHIEF EXECUTIVE OFFICER |

---

Date: July 22, 2025

VANGUARD NEW JERSEY TAX-FREE FUNDS

---

| | |
|:---|:---|
| BY: | /s/ CHRISTINE BUCHANAN\* |
|  | &nbsp;&nbsp;&nbsp;&nbsp;CHRISTINE BUCHANAN |
|  | CHIEF FINANCIAL OFFICER |

---

Date: July 22, 2025

---

| | |
|:---|:---|
| \* By: | /s/ Tonya T. Robinson |

---

Tonya T. Robinson, pursuant to a [Power of Attorney](https://www.sec.gov/Archives/edgar/data/1532203/000168386325001428/f40903d9.htm) filed on February 28, 2025 (see File Number 333-177613), Incorporated by Reference.

## Ex-99.Cert

**Exhibit 99.CERT**

<u>CERTIFICATIONS</u>

I, Salim Ramji, certify that:

1. I have reviewed this report on Form N-CSR of Vanguard New Jersey Tax-Free Funds;

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:

(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;

(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;

(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

(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):

(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

(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: July 22, 2025

---

| |
|:---|
| /s/ Salim Ramji |
| Salim Ramji |
| Chief Executive Officer |

---

<u>CERTIFICATIONS</u>

I, Christine Buchanan, certify that:

1. I have reviewed this report on Form N-CSR of Vanguard New Jersey Tax-Free Funds;

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:

(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;

(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;

(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

(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):

(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

(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: July 22, 2025

---

| |
|:---|
| /s/ Christine Buchanan |
| Christine Buchanan |
| Chief Financial Officer |

---

## Exhibit 99.906

**Exhibit 99.906CERT**

**Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to**

**Section 906 of the Sarbanes-Oxley Act of 2002**

Name of Issuer: **<u>Vanguard New Jersey Tax-Free Funds</u>**

In connection with the Report on Form N-CSR of the above-named issuer that is accompanied by this certification, the undersigned hereby certifies, to his knowledge, that:

&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 issuer.

Date: July 22, 2025

---

| |
|:---|
| /s/ Salim Ramji |
| Salim Ramji |
| Chief Executive Officer |

---

**Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to**

**Section 906 of the Sarbanes-Oxley Act of 2002**

Name of Issuer: **<u>Vanguard New Jersey Tax-Free Funds</u>**

In connection with the Report on Form N-CSR of the above-named issuer that is accompanied by this certification, the undersigned hereby certifies, to her knowledge, that:

&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 issuer.

Date: July 22, 2025

---

| |
|:---|
| /s/ Christine Buchanan |
| Christine Buchanan |
| Chief Financial Officer |

---