# EDGAR Filing Document

**Accession Number:** 0001087786
**File Stem:** 0001193125-26-210842
**Filing Date:** 2026-5
**Character Count:** 605467
**Document Hash:** 0a8df15fa4f7958254196935a078c5b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-210842.hdr.sgml**: 20260507

**ACCESSION NUMBER**: 0001193125-26-210842

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260507

**DATE AS OF CHANGE**: 20260507

**EFFECTIVENESS DATE**: 20260507

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NUVEEN NEW JERSEY QUALITY MUNICIPAL INCOME FUND
- **CENTRAL INDEX KEY:** 0001087786

**ORGANIZATION NAME:**
- **EIN:** 364119016
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09455
- **FILM NUMBER:** 26951543

**BUSINESS ADDRESS:**
- **STREET 1:** 333 W WACKER DR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3129178146

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NUVEEN NEW JERSEY DIVIDEND ADVANTAGE MUNICIPAL FUND
- **DATE OF NAME CHANGE:** 19990602

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   <u>811-09455</u>

Nuveen New Jersey Quality Municipal Income Fund

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive

Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Mark L. Winget

Vice President and Secretary

333 West Wacker Drive

Chicago, Illinois 60606

(Name and address of agent for service)

Registrant's telephone number, including area code:   <u>(800) 257-8787</u>

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

Date of reporting period:   <u>February 28, 2026</u>

------

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

------

Closed-End

Funds

Closed-End

Funds

Nuveen

Municipal

February

28,

2026

#### Semi-Annual

#### Report
This

semi-annual

report

contains

the

Funds'

unaudited

financial

statements.

Nuveen

Arizona

Quality

Municipal

Income

Fund

NAZ

Nuveen

California

AMT-Free

Quality

Municipal

Income

Fund

NKX

Nuveen

California

Municipal

Value

Fund

NCA

Nuveen

California

Quality

Municipal

Income

Fund

NAC

Nuveen

New

Jersey

Quality

Municipal

Income

Fund

NXJ

Nuveen

New

York

AMT-Free

Quality

Municipal

Income

Fund

NRK

Nuveen

New

York

Municipal

Value

Fund

NNY

Nuveen

New

York

Quality

Municipal

Income

Fund

NAN

Nuveen

Pennsylvania

Quality

Municipal

Income

Fund

NQP

#### Table

#### of

#### Contents
Important

Notices

Common

Share

Information

About

the

Funds'

Benchmarks

Fund

Performance,

Leverage

and

Holdings

Summaries

Portfolios

of

Investments

Statement

of

Assets

and

Liabilities

Statement

of

Operations

Statement

of

Changes

in

Net

Assets

Statement

of

Cash

Flows

Financial

Highlights

Notes

to

Financial

Statements

Shareholder

Meeting

Report

Additional

Fund

Information

Glossary

of

Terms

Used

in

this

Report

#### Important

#### Notices

Portfolio

manager

commentaries:

The

Funds

include

portfolio

manager

commentary

in

their

annual

shareholder

reports.

For

your

Fund's

most

recent

annual

portfolio

manager

discussion,

please

refer

to

the

Discussion

of

Fund

Performance

section

of

the

Fund's

annual

shareholder

report.

Fund

changes:

For

changes

that

occurred

to

your

Fund

both

during

and

after

this

reporting

period,

please

refer

to

the

Notes

to

Financial

Statements

section

of

this

report.

Fund

principal

investment

policies

and

principal

risks:

Refer

to

the

Shareholder

Update

section

of

your

Fund's

annual

shareholder

report

for

information

on

the

Fund's

principal

investment

policies

and

principal

risks

Fund

performance:

For

current

information

on

your

Fund's

average

annual

total

returns

please

refer

to

the

Fund's

website

at

www.nuveen.com.

For

average

annual

total

returns

as

of

the

end

of

this

reporting

period,

please

refer

to

the

Fund

Performance,

Expense

Ratios

and

Holding

Summaries

section

within

this

report.

NXJ

-

Portfolio

manager

update:

Effective

September

18,

2025,

Kristen

DeJong

was

added

as

a

portfolio

manager

of

NXJ.

NXJ

and

NQP

-

Fund

mergers:

On

September

17,

2025,

the

Funds'

Board

of

Trustees

approved

the

mergers

of

NXJ,

NQP

and

Nuveen

Missouri

Quality

Municipal

Income

Fund

(NOM)

into

the

Nuveen

Municipal

High

Income

Opportunity

Fund

(NMZ).

The

mergers

were

approved

by

shareholders

on

April

2,

2026,

and

became

effective

before

market

open

on

April

27,

2026. 4

#### Common

#### Share

#### Information
COMMON

SHARE

DISTRIBUTION

INFORMATION

The

following

information

regarding the

Funds' distributions

is

current

as

of

February

28,

2026. Each

Fund's

distribution

levels

may

vary

over

time

based

on each

Fund's

investment

activity

and

portfolio

investment

value

changes.

During

the

current fiscal

period, each

Fund's

distributions

to

common

shareholders

were

as

shown

in

the

accompanying

table.

Each Fund's

distribution

policy,

which

may

be

changed

by

the

Board,

is

to

make

regular

monthly

cash

distributions

to

holders

of

its

common

shares

(stated

in

terms

of

a

fixed

cents

per

common

share

dividend

distribution

rate

which

may

be

set

from

time

to

time).

The

Fund

intends

to

distribute

all

or

substantially

all

of

its

net

investment

income

each

year

through

its

regular

monthly

distribution

and

to

distribute

realized

capital

gains

at

least

annually.

In

addition,

in

any

monthly

period,

to

maintain

its

declared

per

common

share

distribution

amount,

the

Fund

may

distribute

more

or

less

than

its

net

investment

income

during

the

period.

In

the

event

the

Fund

distributes

more

than

its

net

investment

income

during

any

yearly

period,

such

distributions

may

also

include

realized

gains

and/or

a

return

of

capital.

To

the

extent

that

a

distribution

includes

a

return

of

capital

the

NAV

per

share

may

erode.

If

the

Fund's

distribution

includes

anything

other

than

net

investment

income,

the

Fund

will

provide

a

notice

to

shareholders

of

its

best

estimate

of

the

distribution

sources

at

that

the

time

of

the

distribution.

These

estimates

may

not

match

the

final

tax

characterization

(for

the

full

year's

distributions)

contained

in

shareholders'

1099-DIV

forms

after

the

end

of

the

year.

NUVEEN

CLOSED-END

FUND

DISTRIBUTION

AMOUNTS

The

Nuveen

Closed-End

Funds'

monthly

and

quarterly

periodic

distributions

to

shareholders

are

posted

on

www.nuveen.com

and

can

be

found

on

Nuveen's

enhanced

closed-end

fund

resource

page,

which

is

at

https://www.nuveen.com/resource-center-

closed-end-funds,

along

with

other

Nuveen

closed-end

fund

product

updates.

To

ensure

timely

access

to

the

latest

information,

shareholders

may

use

a

subscribe

function,

which

can

be

activated

at

this

web

page

(https://www.nuveen.com/subscriptions).

Per

Common

Share

Amounts

Monthly

Distributions

(Ex-Dividend

Date)

NAZ

NKX

NCA

NAC

NXJ

September

$0.0655

$0.0760

$0.0290

$0.0735

$0.0785

October

0.0655 0.0760 0.0290 0.0735 0.0785 November

0.0655 0.0760 0.0290 0.0735 0.0785 December

0.0655 0.0760 0.0290 0.0735 0.0785 January

0.0655 0.0760 0.0290 0.0735 0.0785 February

0.0655 0.0760 0.0290 0.0735 0.0785 Total

Distributions

from

Net

Investment

Income

$0.3930

$0.4560

$0.1740

$0.4410

$0.4710

Per

Common

Share

Amounts

Monthly

Distributions

(Ex-Dividend

Date)

NRK

NNY

NAN

NQP

September

$0.0690

$0.0295

$0.0720

$0.0780

October

0.0690 0.0295 0.0720 0.0780 November

0.0690 0.0295 0.0720 0.0780 December

0.0690 0.0295 0.0720 0.0780 January

0.0690 0.0295 0.0720 0.0780 February

0.0690 0.0295 0.0720 0.0780 Total

Distributions

from

Net

Investment

Income

$0.4140

$0.1770

$0.4320

$0.4680

Yields

NAZ

NKX

NCA

NAC

NXJ

NRK

Market

Yield

6.46%

7.07%

3.62%

7.31%

7.48%

7.89%

Taxable-Equivalent

Yield

11.40%

15.40%

7.88%

15.93%

15.46%

16.33%

Yields

NNY

NAN

NQP

Market

Yield

4.03%

7.44%

7.78%

Taxable-Equivalent

Yield

8.34%

15.39%

13.87%

Market

Yield

is

based

on

the

Fund's

current

annualized

monthly

distribution

divided

by

the

Fund's

current

market

price

as

of

the

end

of

the

reporting

period.

Taxable-Equivalent

Yield

represents

the

yield

that

must

be

earned

on

a

fully

taxable

investment

in

order

to

equal

the

yield

of

the

Fund

on

an

after-tax

basis.

It

is

based

on

a

combined

federal

and

state

income

tax

rate

of

43.3%,

54.1%,

54.1%,

54.1%,

51.6%,

51.7%

,51.7

%,

51.7%

and

43.9%

for

NAZ,

NKX,

NCA,

NAC,

NXJ,

NRK,

NNY,

NAN

and

NQP,

respectively.

Your

actual

combined

federal

and

state

income

tax

rate

may

differ

from

the

assumed

rate.

The

Taxable-Equivalent

Yield

also

takes

into

account

the

percentage

of

the

Fund's

income

generated

and

paid

by

the

Fund

(based

on

payments

made

during

the

previous

calendar

year)

that

was

either

exempt

from

federal

income

tax

but

not

from

state

income

tax

(e.g.,

income

from

an

out-of-state

municipal

bond),

or

was

exempt

from

neither

federal

nor

state

income

tax.

Separately,

if

the

comparison

were

instead

to

investments

that

generate

qualified

dividend

income,

which

is

taxable

at

a

rate

lower

than

an

individual's

ordinary

graduated

tax

rate,

the

fund's

Taxable-Equivalent

Yield

would

be

lower.

COMMON

SHARE

EQUITY

SHELF

PROGRAMS

During

the

current

reporting

period,

NAZ,

NKX,

NAC

and

NAN

were

authorized

by

the

Securities

and

Exchange

Commission

to

issue

additional

common

shares

through

an

equity

shelf

program

(Shelf

Offering).

Under

these

programs,

NAZ,

NKX,

NAC

and

NAN,

subject

to

market

conditions,

may

raise

additional

capital

from

time

to

time

in

varying

amounts

and

offering

methods

at

a

net

price

at

or

above

the

Fund's

NAV

per

common

share.

The

maximum

aggregate

offering

under

these

Shelf

Offerings,

are

as

shown

in

the

accompanying

table.

During

the

current

reporting

period,

NAZ,

NKX,

NAC

and

NAN

sold

common

shares

through

its

Shelf

Offering

at

a

weighted

average

premium

to

its

NAV

per

common

share

in

the

accompanying

table.

Refer

to

the

Notes

to

Financial

Statements

for

further

details

on

shelf

offerings

and

each

Fund's

transactions.

COMMON

SHARE

REPURCHASES

The

Funds'

Board

of

Trustees

reauthorized

an

open-market

share

repurchase

program,

allowing

each

Fund

to

repurchase

and

retire

an

aggregate

of

up

to

approximately

10%

of

its

outstanding

common

shares.

During

the

current

reporting

period,

the

Funds

did

not

repurchase

any

of

their

outstanding

common

shares.

As

of

February

28,

2026

(and

since

the

inception

of

the

Funds'

repurchase

programs),

each

Fund

has

cumulatively

repurchased

and

retired

its

outstanding

common

shares

as

shown

in

the

accompanying

table.

(1

NAZ

NKX

NAC

NAN

Maximum

aggregate

offering

1,200,000

19,548,000

30,400,000

3,100,000

NAZ

NKX

NAC

NAN

Common

shares

sold

through

shelf

offering

697,533

3,663,747

10,465,314

864,735

Weighted

average

premium

to

NAV

per

common

share

sold

2.17%

4.47%

1.31%

0.60%

NAZ

NKX

NCA

NAC

NXJ

Common

shares

cumulatively

repurchased

and

retired

133,000

230,000

-

383,000

1,960,343

Common

shares

authorized

for

repurchase

1,270,000

5,320,000

3,310,000

15,550,000

4,120,000

NRK

NNY

NAN

NQP

Common

shares

cumulatively

repurchased

and

retired

390,000

-

292,714

900,440

Common

shares

authorized

for

repurchase

8,720,000

1,885,000

3,175,000

3,720,000

#### About

#### the

#### Funds'

#### Benchmarks
S&P

Municipal

Bond

Index:

An

index

designed

to

measure

the

performance

of

the

tax-exempt

U.S.

municipal

bond

market.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

S&P

Municipal

Bond

Arizona

Index:

An

index

designed

to

measure

the

performance

of

the

tax-exempt

Arizona

municipal

bond

market.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

S&P

Municipal

Bond

California

Index:

An

index

designed

to

measure

the

performance

of

the

tax-exempt

California

municipal

bond

market.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees

.

S&P

Municipal

Bond

New

Jersey

Index:

An

index

designed

to

measure

the

performance

of

the

tax-exempt

New

Jersey

municipal

bond

market.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

S&P

Municipal

Bond

New

York

Index:

An

index

designed

to

measure

the

performance

of

the

tax-exempt

New

York

municipal

bond

market.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

S&P

Municipal

Bond

Pennsylvania

Index

:

An

index

designed

to

measure

the

performance

of

the

tax-exempt

Pennsylvania

municipal

bond

market.

Index

returns

assume

reinvestment

of

distributions,

but

do

not

reflect

any

applicable

sales

charges

or

management

fees.

#### Fund

#### Performance,

#### Leverage

#### and

#### Holdings

#### Summaries

The

Fund

Performance,

Leverage

and

Holding

Summaries

for

each

Fund

are

shown

below

within

this

section

of

the

report.

Fund

Performance

Performance

data

shown

represents

past

performance

and

does

not

predict

or

guarantee

future

results.

Current

performance

may

be

higher

or

lower

than

the

data

shown.

Returns

do

not

reflect

the

deduction

of

taxes

that

shareholders

may

have

to

pay

on

Fund

distributions

or

upon

the

sale

of

Fund

shares.

Returns

at

NAV

are

net

of

Fund

expenses,

and

assume

reinvestment

of

distributions.

Comparative

index

return

information

is

provided

for

the

Fund's

shares

at

NAV

only.

Indexes

are

not

available

for

direct

investment.

Total

returns

for

a

period

of

less

than

one

year

are

not

annualized

(i.e.

cumulative

returns).

Since

inception

returns

are

shown

for

share

classes

that

have

less

than

10-years

of

performance.

For

performance,

current

to

the

most

recent

month-end

visit

Nuveen.com

or

call

(800) 257-8787.

Impact

of

Leverage

One

important

factor

impacting

the

returns

of

the

Funds'

common

shares

relative

to

their

comparative

benchmarks

was

the

Funds'

use

of

leverage

through

their

issuance

of

preferred

shares

and/or

investments

in

inverse

floating

rate

securities,

which

represent

leveraged

investments

in

underlying

bonds.

The

Funds

use

leverage

because

our

research

has

shown

that,

over

time,

leveraging

provides

opportunities

for

additional

income.

The

opportunity

arises

when

short-term

rates

that

a

Fund

pays

on

its

leveraging

instruments

are

lower

than

the

interest

the

Fund

earns

on

its

portfolio

of

long-term

bonds

that

it

has

bought

with

the

proceeds

of

that

leverage.

However,

use

of

leverage

can

expose

Fund

common

shares

to

additional

price

volatility.

When

the

Fund

uses

leverage,

the

Fund's

common

shares

will

experience

a

greater

increase

in

their

net

asset

value

if

the

securities

acquired

through

the

use

of

leverage

increase

in

value,

but

will

also

experience

a

correspondingly

larger

decline

in

their

net

asset

value

if

the

securities

acquired

through

leverage

decline

in

value.

All

this

will

make

the

shares'

total

return

performance

more

variable

over

time.

In

addition,

common

share

income

in

levered

funds

will

typically

decrease

in

comparison

to

unlevered

funds

when

short-term

interest

rates

increase

and

increase

when

short-term

interest

rates

decrease.

In

recent

quarters,

fund

leverage

expenses

have

generally

tracked

the

overall

movement

of

short-term

interest

rates.

While

fund

leverage

expenses

are

higher

than

their

prior

year

lows,

leverage

nevertheless

continues

to

provide

the

opportunity

for

incremental

common

share

income,

particularly

over

longer-term

periods.

Leverage

Ratios

Each

Fund's

Effective

Leverage

and

Regulatory

Leverage

Ratios

are

set

forth

below.

"Effective

Leverage"

is

a

Fund's

effective

economic

leverage,

and

includes

both

regulatory

leverage

and

the

leverage

effects

of

certain

derivative

and

other

investments

in

a

Fund's

portfolio

that

increase

the

Fund's

investment

exposure.

Currently,

the

leverage

effects

of

Tender

Option

Bond

(TOB)

inverse

floater

holdings

are

included

in

effective

leverage

values,

in

addition

to

any

regulatory

leverage.

"Regulatory

Leverage"

consists

of

preferred

shares

or

borrowings

of

a

Fund.

Regulatory

Leverage

is

a

part

of

a

Fund's

capital

structure.

Regulatory

leverage

is

subject

to

asset

coverage

limits

set

forth

in

the

Investment

Company

Act

of

1940. A

Fund,

however,

may

from

time

to

time

borrow

for

temporary

purposes,

typically

on

a

transient

basis

in

connection

with

its

day-to-day

operations,

primarily

in

connection

with

the

need

to

settle

portfolio

trades.

Such

temporary

borrowings

are

excluded

from

the

calculation

of

a

Fund's

Effective

Leverage

and

Regulatory

Leverage

ratios.

Holding

Summaries

The

Holdings

Summaries

data

relates

to

the

securities

held

in

each

Fund's

portfolio

of

investments

as

of

the

end

of

this

reporting

period.

It

should

not

be

construed

as

a

measure

of

performance

for

the

Fund

itself.

Holdings

are

subject

to

change.

Refer

to

the

Fund's

Portfolio

of

Investments

for

individual

security

information.

For

financial

reporting

purposes,

the

ratings

disclosed

are

the

highest

rating

given

by

one

of

the

following

national

rating

agencies:

Standard

&

Poor's,

Moody's

Investors

Service,

Inc.

or

Fitch,

Inc.

This

treatment

of

split-rated

securities

may

differ

from

that

used

for

other

purposes,

such

as

for

Fund

investment

policies.

Credit

ratings

are

subject

to

change.

AAA,

AA,

A

and

BBB

are

investment

grade

ratings;

BB,

B,

CCC,

CC,

C

and

D

are

below

investment

grade

ratings.

Holdings

designated

N/R

are

not

rated

by

these

national

rating

agencies.

#### Nuveen

#### Arizona

#### Quality

#### Municipal

#### Income

#### Fund

#### Performance,

#### Leverage

#### and

#### Holdings

#### Summaries

#### February

#### 28,

#### 2026
NAZ

Performance\*

\*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

Municipal

Bond

Arizona

Index.

Daily

Common

Share

NAV

and

Share

Price

Total

Returns

as

of

February

28,

2026

Cumulative

Average

Annual

Inception

Date

6-Month

1-Year

5-Year

10-Year

NAZ

at

Common

Share

NAV

11/19/92

10.74%

5.14%

0.23%

2.23%

NAZ

at

Common

Share

Price

11/19/92

6.00%

2.84%

0.72%

2.17%

S&P

Municipal

Bond

Index

—

5.86%

4.85%

1.62%

2.51%

S&P

Municipal

Bond

Arizona

Index

—

5.54%

4.87%

1.70%

2.41%

Common

Share

NAV

Common

Share

Price

Premium/(Discount)

to

NAV

Average

Premium/(Discount)

to

NAV

$11.91

$12.16

2.10%

2.13%

Leverage

and

Holdings

Leverage

Effective

Leverage

36.66%

Regulatory

Leverage

36.66%

Fund

Allocation

(%

of

net

assets)

Municipal

Bonds

.3

%

Other

Assets

&

Liabilities,

Net

(0.4)%

AMTP

Shares,

Net

(57

.9)

%

Net

Assets

%

Portfolio

Credit

Quality

(%

of

total

investments)

AAA

8.8%

AA

55.7%

A

15.7%

BBB

4.3%

BB

or

Lower

4.0%

N/R

(not

rated)

11.5%

Total

%

Portfolio

Composition

(%

of

total

investments)

Tax

Obligation/Limited

23.6%

Utilities

19.8%

Education

and

Civic

Organizations

19.4%

Health

Care

13.0%

Tax

Obligation/General

12.9%

Transportation

3.9%

Long-Term

Care

3.0%

Housing/Single

Family

2.2%

Other

2.2%

Total

100%

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising "Other"

and

not

listed

in

the

table

above.

#### Nuveen

#### California

#### AMT-Free

#### Quality

#### Municipal

#### Income

#### Fund

#### Performance,

#### Leverage

#### and

#### Holdings

#### Summaries

#### February

#### 28,

#### 2026
NKX

Performance\*

\*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

Municipal

Bond

California

Index.

Daily

Common

Share

NAV

and

Share

Price

Total

Returns

as

of

February

28,

2026

Cumulative

Average

Annual

Inception

Date

6-Month

1-Year

5-Year

10-Year

NKX

at

Common

Share

NAV

11/21/02

10.89%

3.83%

(0.48)%

2.20%

NKX

at

Common

Share

Price

11/21/02

13.25%

8.00%

2.38%

3.29%

S&P

Municipal

Bond

Index

—

5.86%

4.85%

1.62%

2.51%

S&P

Municipal

Bond

California

Index

—

5.82%

4.67%

1.45%

2.40%

Common

Share

NAV

Common

Share

Price

Premium/(Discount)

to

NAV

Average

Premium/(Discount)

to

NAV

$12.35

$12.90

4.45%

4.40%

Leverage

and

Holdings

Leverage

Effective

Leverage

39.48%

Regulatory

Leverage

37.56%

Fund

Allocation

(%

of

net

assets)

Municipal

Bonds

.8

%

Other

Assets

&

Liabilities,

Net

3.2%

Floating

Rate

Obligations

(5.1)%

MFP

Shares,

Net

(21

.2)

%

VRDP

Shares,

Net

(38

.7)

%

Net

Assets

%

Portfolio

Credit

Quality

(%

of

total

investments)

AAA

5.7%

AA

47.8%

A

13.0%

BBB

11.2%

BB

or

Lower

2.3%

N/R

(not

rated)

20.0%

Total

%

Portfolio

Composition

(%

of

total

investments)

Tax

Obligation/General

23.2%

Health

Care

18.7%

Utilities

17.4%

Housing/Multifamily

11.3%

Tax

Obligation/Limited

10.8%

Transportation

9.0%

Education

and

Civic

Organizations

8.7%

U.S.

Guaranteed

0.6%

Other

0.3%

Total

100%

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising "Other"

and

not

listed

in

the

table

above.

#### Nuveen

#### California

#### Municipal

#### Value

#### Fund

#### Performance,

#### Leverage

#### and

#### Holdings

#### Summaries

#### February

#### 28,

#### 2026
NCA

Performance\*

\*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

Municipal

Bond

California

Index.

Daily

Common

Share

NAV

and

Share

Price

Total

Returns

as

of

February

28,

2026

Cumulative

Average

Annual

Inception

Date

6-Month

1-Year

5-Year

10-Year

NCA

at

Common

Share

NAV

10/07/87

7.55%

3.90%

0.86%

2.31%

NCA

at

Common

Share

Price

10/07/87

15.08%

15.82%

2.53%

2.54%

S&P

Municipal

Bond

Index

—

5.86%

4.85%

1.62%

2.51%

S&P

Municipal

Bond

California

Index

—

5.82%

4.67%

1.45%

2.40%

Common

Share

NAV

Common

Share

Price

Premium/(Discount)

to

NAV

Average

Premium/(Discount)

to

NAV

$9.34

$9.62

3.00%

(1.30)%

Leverage

and

Holdings

Leverage

Effective

Leverage

0.00%

Regulatory

Leverage

0.00%

Fund

Allocation

(%

of

net

assets)

Municipal

Bonds

98.2%

Variable

Rate

Demand

Preferred

Shares

0.8%

Other

Assets

&

Liabilities,

Net

1.0%

Net

Assets

100%

Portfolio

Credit

Quality

(%

of

total

investments)

AAA

8.3%

AA

59.0%

A

11.1%

BBB

7.7%

BB

or

Lower

0.5%

N/R

(not

rated)

13.4%

Total

100%

Portfolio

Composition

(%

of

total

investments)

Tax

Obligation/General

24.7%

Utilities

20.6%

Transportation

18.3%

Health

Care

11.4%

Housing/Multifamily

10.0%

Tax

Obligation/Limited

9.0%

Education

and

Civic

Organizations

3.3%

Other

2.7%

Total

100%

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising

&nbsp;&nbsp;&nbsp;&nbsp;"

Other"

and

not

listed

in

the

table

above.

#### Nuveen

#### California

#### Quality

#### Municipal

#### Income

#### Fund

#### Performance,

#### Leverage

#### and

#### Holdings

#### Summaries

#### February

#### 28,

#### 2026
NAC

Performance\*

\*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

Municipal

Bond

California

Index.

Daily

Common

Share

NAV

and

Share

Price

Total

Returns

as

of

February

28,

2026

Cumulative

Average

Annual

Inception

Date

6-Month

1-Year

5-Year

10-Year

NAC

at

Common

Share

NAV

5/26/99

12.08%

4.42%

(0.50)%

1.96%

NAC

at

Common

Share

Price

5/26/99

11.49%

12.22%

1.88%

2.60%

S&P

Municipal

Bond

Index

—

5.86%

4.85%

1.62%

2.51%

S&P

Municipal

Bond

California

Index

—

5.82%

4.67%

1.45%

2.40%

Common

Share

NAV

Common

Share

Price

Premium/(Discount)

to

NAV

Average

Premium/(Discount)

to

NAV

$11.94

$12.06

1.01%

0.68%

Leverage

and

Holdings

Leverage

Effective

Leverage

39.32%

Regulatory

Leverage

37.93%

Fund

Allocation

(%

of

net

assets)

Municipal

Bonds

.9

%

Short-Term

Municipal

Bonds

.9

%

Other

Assets

&

Liabilities,

Net

0.9%

Floating

Rate

Obligations

(3.7)%

MFP

Shares,

Net

(13

.8)

%

VRDP

Shares,

Net

(47

.2)

%

Net

Assets

%

Portfolio

Credit

Quality

(%

of

total

investments)

AAA

5.0%

AA

51.5%

A

15.8%

BBB

8.8%

BB

or

Lower

2.0%

N/R

(not

rated)

16.9%

Total

%

Portfolio

Composition

(%

of

total

investments)

Tax

Obligation/General

19.3%

Transportation

17.5%

Utilities

17.4%

Health

Care

16.9%

Housing/Multifamily

11.4%

Tax

Obligation/Limited

8.2%

Education

and

Civic

Organizations

7.2%

Other

2.1%

Total

100%

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising "Other"

and

not

listed

in

the

table

above.

#### Nuveen

#### New

#### Jersey

#### Quality

#### Municipal

#### Income

#### Fund

#### Performance,

#### Leverage

#### and

#### Holdings

#### Summaries

#### February

#### 28,

#### 2026
NXJ

Performance\*

\*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

Municipal

Bond

New

Jersey

Index.

Daily

Common

Share

NAV

and

Share

Price

Total

Returns

as

of

February

28,

2026

Cumulative

Average

Annual

Inception

Date

6-Month

1-Year

5-Year

10-Year

NXJ

at

Common

Share

NAV

3/27/01

10.07%

5.37%

0.28%

2.76%

NXJ

at

Common

Share

Price

3/27/01

14.44%

10.71%

3.25%

4.35%

S&P

Municipal

Bond

Index

—

5.86%

4.85%

1.62%

2.51%

S&P

Municipal

Bond

New

Jersey

Index

—

5.78%

5.19%

2.01%

3.19%

Common

Share

NAV

Common

Share

Price

Premium/(Discount)

to

NAV

Average

Premium/(Discount)

to

NAV

$13.00

$12.59

(3.15)%

(2.45)%

Leverage

and

Holdings

Leverage

Effective

Leverage

41.34%

Regulatory

Leverage

36.93%

Fund

Allocation

(%

of

net

assets)

Municipal

Bonds

.3

%

Short-Term

Municipal

Bonds

.7

%

Other

Assets

&

Liabilities,

Net

1.3%

Floating

Rate

Obligations

(11.9)%

VRDP

Shares,

Net

(58

.4)

%

Net

Assets

%

Portfolio

Credit

Quality

(%

of

total

investments)

AAA

8.8%

AA

55.1%

A

20.3%

BBB

8.5%

BB

or

Lower

2.9%

N/R

(not

rated)

4.4%

Total

%

Portfolio

Composition

(%

of

total

investments)

Tax

Obligation/Limited

28.1%

Transportation

17.8%

Tax

Obligation/General

12.7%

Education

and

Civic

Organizations

12.2%

Health

Care

8.8%

Housing/Single

Family

7.7%

Housing/Multifamily

4.4%

Utilities

3.5%

Consumer

Staples

3.2%

Other

1.6%

Total

100%

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising "Other"

and

not

listed

in

the

table

above.

#### Nuveen

#### New

#### York

#### AMT-Free

#### Quality

#### Municipal

#### Income

#### Fund

#### Performance,

#### Leverage

#### and

#### Holdings

#### Summaries

#### February

#### 28,

#### 2026
NRK

Performance\*

\*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

Municipal

Bond

New

York

Index.

Daily

Common

Share

NAV

and

Share

Price

Total

Returns

as

of

February

28,

2026

Cumulative

Average

Annual

Inception

Date

6-Month

1-Year

5-Year

10-Year

NRK

at

Common

Share

NAV

11/21/02

12.11%

3.23%

(0.58)%

1.85%

NRK

at

Common

Share

Price

11/21/02

14.96%

6.06%

0.78%

2.86%

S&P

Municipal

Bond

Index

—

5.86%

4.85%

1.62%

2.51%

S&P

Municipal

Bond

New

York

Index

—

6.22%

4.57%

1.55%

2.32%

Common

Share

NAV

Common

Share

Price

Premium/(Discount)

to

NAV

Average

Premium/(Discount)

to

NAV

$11.12

$10.50

(5.58)%

(7.15)%

Leverage

and

Holdings

Leverage

Effective

Leverage

41.12%

Regulatory

Leverage

40.63%

Fund

Allocation

(%

of

net

assets)

Municipal

Bonds

.9

%

Short-Term

Municipal

Bonds

.0

%

Other

Assets

&

Liabilities,

Net

3.8%

Floating

Rate

Obligations

(1.4)%

MFP

Shares,

Net

(8

.2)

%

VRDP

Shares,

Net

(60

.1)

%

Net

Assets

%

Portfolio

Credit

Quality

(%

of

total

investments)

AAA

9.8%

AA

48.7%

A

12.8%

BBB

9.1%

BB

or

Lower

7.5%

N/R

(not

rated)

12.1%

Total

%

Portfolio

Composition

(%

of

total

investments)

Tax

Obligation/Limited

29.4%

Health

Care

17.3%

Education

and

Civic

Organizations

14.5%

Utilities

13.3%

Transportation

10.4%

Tax

Obligation/General

5.0%

Consumer

Staples

4.7%

Industrials

2.1%

Other

3.3%

Total

100%

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising "Other"

and

not

listed

in

the

table

above.

#### Nuveen

#### New

#### York

#### Municipal

#### Value

#### Fund

#### Performance,

#### Leverage

#### and

#### Holdings

#### Summaries

#### February

#### 28,

#### 2026
NNY

Performance\*

\*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

Municipal

Bond

New

York

Index.

Daily

Common

Share

NAV

and

Share

Price

Total

Returns

as

of

February

28,

2026

Cumulative

Average

Annual

Inception

Date

6-Month

1-Year

5-Year

10-Year

NNY

at

Common

Share

NAV

10/07/87

7.03%

3.78%

1.13%

2.36%

NNY

at

Common

Share

Price

10/07/87

10.92%

9.69%

1.93%

2.43%

S&P

Municipal

Bond

Index

—

5.86%

4.85%

1.62%

2.51%

S&P

Municipal

Bond

New

York

Index

—

6.22%

4.57%

1.55%

2.32%

Common

Share

NAV

Common

Share

Price

Premium/(Discount)

to

NAV

Average

Premium/(Discount)

to

NAV

$8.96

$8.79

(1.90)%

(4.38)%

Leverage

and

Holdings

Leverage

Effective

Leverage

0.00%

Regulatory

Leverage

0.00%

Fund

Allocation

(%

of

net

assets)

Municipal

Bonds

.6

%

Other

Assets

&

Liabilities,

Net

1.4%

Net

Assets

%

Portfolio

Credit

Quality

(%

of

total

investments)

AAA

9.9%

AA

40.3%

A

12.6%

BBB

19.8%

BB

or

Lower

8.5%

N/R

(not

rated)

8.9%

Total

%

Portfolio

Composition

(%

of

total

investments)

Transportation

21.5%

Tax

Obligation/Limited

17.9%

Health

Care

16.3%

Utilities

14.8%

Education

and

Civic

Organizations

13.4%

Tax

Obligation/General

9.5%

Consumer

Staples

2.9%

Industrials

2.4%

Other

1.3%

Total

100%

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising "Other"

and

not

listed

in

the

table

above.

#### Nuveen

#### New

#### York

#### Quality

#### Municipal

#### Income

#### Fund

#### Performance,

#### Leverage

#### and

#### Holdings

#### Summaries

#### February

#### 28,

#### 2026
NAN

Performance\*

\*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

Municipal

Bond

New

York

Index.

Daily

Common

Share

NAV

and

Share

Price

Total

Returns

as

of

February

28,

2026

Cumulative

Average

Annual

Inception

Date

6-Month

1-Year

5-Year

10-Year

NAN

at

Common

Share

NAV

5/26/99

10.70%

3.45%

(0.39)%

1.82%

NAN

at

Common

Share

Price

5/26/99

9.98%

6.11%

1.99%

3.03%

S&P

Municipal

Bond

Index

—

5.86%

4.85%

1.62%

2.51%

S&P

Municipal

Bond

New

York

Index

—

6.22%

4.57%

1.55%

2.32%

Common

Share

NAV

Common

Share

Price

Premium/(Discount)

to

NAV

Average

Premium/(Discount)

to

NAV

$11.60

$11.62

0.17%

(0.01)%

Leverage

and

Holdings

Leverage

Effective

Leverage

39.79%

Regulatory

Leverage

36.83%

Fund

Allocation

(%

of

net

assets)

Municipal

Bonds

.5

%

Other

Assets

&

Liabilities,

Net

3.4%

Floating

Rate

Obligations

(7.8)%

AMTP

Shares,

Net

(34

.3)

%

VRDP

Shares,

Net

(23

.8)

%

Net

Assets

%

Portfolio

Credit

Quality

(%

of

total

investments)

AAA

12.2%

AA

38.4%

A

11.1%

BBB

18.6%

BB

or

Lower

9.2%

N/R

(not

rated)

10.5%

Total

%

Portfolio

Composition

(%

of

total

investments)

Tax

Obligation/Limited

29.2%

Transportation

28.0%

Health

Care

16.8%

Education

and

Civic

Organizations

6.7%

Utilities

5.3%

Tax

Obligation/General

5.3%

Consumer

Staples

3.7%

Financials

2.3%

Industrials

1.7%

Other

1.0%

Total

100%

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising "Other"

and

not

listed

in

the

table

above.

#### Nuveen

#### Pennsylvania

#### Quality

#### Municipal

#### Income

#### Fund

#### Performance,

#### Leverage

#### and

#### Holdings

#### Summaries

#### February

#### 28,

#### 2026
NQP

Performance\*

\*For

purposes

of

Fund

performance,

relative

results

are

measured

against

the

S&P

Municipal

Bond

Pennsylvania

Index.

Daily

Common

Share

NAV

and

Share

Price

Total

Returns

as

of

February

28,

2026

Cumulative

Average

Annual

Inception

Date

6-Month

1-Year

5-Year

10-Year

NQP

at

Common

Share

NAV

2/21/91

11.11%

5.02%

0.59%

2.42%

NQP

at

Common

Share

Price

2/21/91

14.11%

10.25%

2.17%

3.54%

S&P

Municipal

Bond

Index

—

5.86%

4.85%

1.62%

2.51%

S&P

Municipal

Bond

Pennsylvania

Index

—

5.87%

4.83%

1.61%

2.63%

Common

Share

NAV

Common

Share

Price

Premium/(Discount)

to

NAV

Average

Premium/(Discount)

to

NAV

$12.64

$12.03

(4.83)%

(3.87)%

Leverage

and

Holdings

Leverage

Effective

Leverage

40.81%

Regulatory

Leverage

31.61%

Fund

Allocation

(%

of

net

assets)

Municipal

Bonds

.6

%

Variable

Rate

Senior

Loan

Interests

.0

%

Short-Term

Municipal

Bonds

.2

%

Other

Assets

&

Liabilities,

Net

3.0%

Floating

Rate

Obligations

(22.7)%

VRDP

Shares,

Net

(46

.1)

%

Net

Assets

%

Portfolio

Credit

Quality

(%

of

total

investments)

AAA

0.6%

AA

63.0%

A

16.6%

BBB

9.0%

BB

or

Lower

2.2%

N/R

(not

rated)

8.6%

Total

%

Portfolio

Composition

(%

of

total

investments)

Health

Care

16.1%

Housing/Single

Family

15.6%

Tax

Obligation/General

14.6%

Utilities

13.7%

Education

and

Civic

Organizations

11.1%

Transportation

10.5%

Tax

Obligation/Limited

8.8%

Long-Term

Care

5.7%

U.S.

Guaranteed

1.8%

Other

2.1%

Variable

Rate

Senior

Loan

Interests

0.0%

Total

100%

See

the

Portfolio

of

Investments

for

the

remaining

industries/sectors

comprising "Other"

and

not

listed

in

the

table

above.

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026

#### NAZ
See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

158.3% (100.0%

of

Total

Investments)

X

241,493,836

MUNICIPAL

BONDS

-

158.3% (100.0%

of

Total

Investments)

X

–

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

30.7%

(19.4%

of

Total

Investments)

$

2,175,000

Arizona

Board

of

Regents,

Arizona

State

University

System

Revenue

Bonds,

Green

Series

2016B

5.000 %

07/01/47

$

2,179,119

2,000,000

Arizona

Board

of

Regents,

Arizona

State

University

System

Revenue

Bonds,

Green

Series

2024A

5.000 07/01/50

2,114,612

2,030,000

Arizona

Board

of

Regents,

Arizona

State

University

System

Revenue

Bonds,

Series

2020B

4.000 07/01/47

1,963,838

425,000

Arizona

Board

of

Regents,

Arizona

State

University

System

Revenue

Bonds,

Series

2025A

5.000 07/01/45

466,232

1,095,000

(a) Arizona

Board

of

Regents,

Arizona

State

University

System

Revenue

Bonds,

Series

2026A

5.000 07/01/47

1,186,530

1,000,000

Arizona

Board

of

Regents,

Arizona

State

University

System

Revenue

Bonds,

Series

2026A

5.000 08/01/51

1,055,632

1,000,000

(a) Arizona

Board

of

Regents,

University

of

Arizona,

SPEED

Revenue

Bonds,

Stimulus

Plan

for

Economic

and

Educational

Development,

Series

2026A

5.000 08/01/51

1,046,998

1,000,000

Arizona

Board

of

Regents,

University

of

Arizona,

System

Revenue

Bonds,

Refunding

Series

2021A

5.000 06/01/42

1,081,284

2,000,000

Arizona

Board

of

Regents,

University

of

Arizona,

System

Revenue

Bonds,

Refunding

Series

2025A

5.000 06/01/50

2,112,697

515,000

(b) Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017A

5.125 07/01/37

516,107

525,000

Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017C

5.000 07/01/47

527,204

250,000

(b) Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017D

5.000 07/01/47

238,927

1,700,000

Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017F

5.000 07/01/37

1,731,156

1,000,000

Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017F

5.000 07/01/52

1,001,341

380,000

(b) Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2017G

5.000 07/01/47

363,170

240,000

(b) Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Montessori

Academy

Projects,

Refunding

Series

2017A

6.250 11/01/50

216,404

420,000

(b) Arizona

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Somerset

Academy

of

Las

Vegas

Aliante

and

Skye

Canyon

Campus

Projects,

Series

2021A

4.000 12/15/41

388,836

375,000

(b) Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds, Arizona

Agribusiness

and

Equine

Center,

Inc.

Project,

Series

2017B

5.000 03/01/48

351,393

100,000

(b) Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Academies

of

Math

&

Science

Projects,

Series

2017B

4.250 07/01/27

100,425

615,000

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Academies

of

Math

&

Science

Projects,

Series

2018A

5.000 07/01/38

626,067

1,000,000

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Academies

of

Math

&

Science

Projects,

Series

2018A

5.000 07/01/48

996,433

125,000

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

GreatHearts

Arizona

Projects,

Series

2021A

5.000 07/01/28

130,824

125,000

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

GreatHearts

Arizona

Projects,

Series

2021A

5.000 07/01/29

133,077

130,000

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

GreatHearts

Arizona

Projects,

Series

2021A

5.000 07/01/30

140,469

125,000

Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

GreatHearts

Arizona

Projects,

Series

2021A

5.000 07/01/31

136,711

455,000

(b) Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Pinecrest

Academy

of

Nevada

Horizon,

Inspirada

and

St.

Rose

Campus

Projects,

Series

2018A

5.750 07/15/38

457,152

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

100,000

(b) Arizona

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Social

Bonds

Pensar

Academy

Project,

Series

2020

4.000 %

07/01/30

$

98,929

1,645,000

Arizona

Industrial

Development

Authority,

Arizona,

Lease

Revenue

Bonds,

University

of

Indianapolis

-

Health

Pavilion

Project,

Series

2019A

4.000 10/01/39

1,603,959

1,080,000

Arizona

Industrial

Development

Authority,

Arizona,

Lease

Revenue

Bonds,

University

of

Indianapolis

-

Health

Pavilion

Project,

Series

2019A

4.000 10/01/49

891,096

1,085,000

(b),(c)

Arizona

Industrial

Development

Authority,

Education

Facility

Revenue

Bonds,

Caurus

Academy

Project,

Series

2018A

6.375 06/01/39

868,000

500,000

Glendale

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Midwestern

University,

Series

2025

5.000 05/15/45

531,534

360,000

Industrial

Development

Authority,

Pima

County,

Arizona,

Education

Revenue

Bonds,

Center

for

Academic

Success

Project,

Refunding

Series

2019

4.000 07/01/31

363,679

340,000

Industrial

Development

Authority,

Pima

County,

Arizona,

Education

Revenue

Bonds,

Center

for

Academic

Success

Project,

Refunding

Series

2019

4.000 07/01/33

341,910

780,000

(b) Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Arizona

Autism

Charter

Schools

Project,

Series

2020A

5.000 07/01/50

736,199

195,000

(b) Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Arizona

Autism

Charter

Schools

Project,

Social

Series

2021A

4.000 07/01/51

154,805

355,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Great

Hearts

Academies

Projects,

Series

2017A

5.000 07/01/37

361,274

490,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Great

Hearts

Academies

Projects,

Series

2017C

5.000 07/01/48

491,240

1,715,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Highland

Prep

Project,

Series

2019

5.000 01/01/50

1,725,826

700,000

(b) Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Legacy

Traditional

Schools

Projects,

Series

2021A

4.000 07/01/41

659,010

335,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Legacy

Traditional

Schools

Projects,

Series

2024

4.250 07/01/44

309,625

870,000

(b) Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Paradise

Schools

Projects,

Series

2016

5.000 07/01/47

820,906

520,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Reid

Traditional

School

Projects,

Series

2016

5.000 07/01/36

520,845

300,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Reid

Traditional

School

Projects,

Series

2016

5.000 07/01/47

283,948

2,000,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Educational

Facilities

Revenue

Bonds,

Creighton

University

Projects,

Series

2020

4.000 07/01/50

1,796,183

775,000

McAllister

Academic

Village

LLC,

Arizona,

Revenue

Bonds,

Arizona

State

University

Hassayampa

Academic

Village

Project,

Refunding

Series

2016

5.000 07/01/37

779,871

1,000,000

McAllister

Academic

Village

LLC,

Arizona,

Revenue

Bonds,

Arizona

State

University

Hassayampa

Academic

Village

Project,

Refunding

Series

2016

5.000 07/01/38

1,005,939

1,000,000

Northern

Arizona

University,

System

Revenue

Bonds,

Refunding

Series

2020B

-

BAM

Insured

5.000 06/01/39

1,073,652

70,000

(b) Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Basis

Schools,

Inc.

Projects,

Series

2016A

5.000 07/01/46

67,704

800,000

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Great

Hearts

Academies

Project,

Series

2016A

5.000 07/01/41

800,356

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAZ

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

315,000

(b) Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Legacy

Traditional

Schools

Projects,

Series

2015

5.000 %

07/01/35

$

315,237

300,000

(b) Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Legacy

Traditional

Schools

Projects,

Series

2015

5.000 07/01/45

297,884

650,000

(b) Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Legacy

Traditional

Schools

Projects,

Series

2016A

5.000 07/01/41

650,628

1,110,000

(b) Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Northwest

Christian

School

Project,

Series

2020A

5.000 09/01/45

999,806

400,000

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Villa

Montessori,

Inc.

Projects,

Series

2015

5.000 07/01/35

400,330

900,000

Phoenix

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Vista

College

Preparatory

Project,

Series

2018A

4.125 07/01/38

901,882

1,995,000

Phoenix

Industrial

Development

Authority,

Arizona,

Lease

Revenue

Bonds,

Eastern

Kentucky

University

Project,

Series

2016

5.000 10/01/36

2,013,016

500,000

Pima

County

Community

College

District,

Arizona,

Revenue

Bonds,

Series

2019

5.000 07/01/36

526,675

120,000

(b) Pima

County

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Champion

Schools

Project,

Series

2017

6.000 06/15/37

120,406

680,000

(b) Pima

County

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Champion

Schools

Project,

Series

2017

6.125 06/15/47

680,676

200,000

(c) Pima

County

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Edkey

Charter

Schools

Project,

Series

2016

5.250 07/01/36

160,000

115,000

(b) Pima

County

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

San

Tan

Montessori

School

Project,

Series

2017

6.750 02/01/50

115,414

455,000

(b) Pima

County

Industrial

Development

Authority,

Arizona,

Education

Revenue

Bonds,

Noah

Webster

Schools

Mesa

Project,

Series

2015A

5.000 12/15/34

446,287

730,000

Pinal

County

Community

College

District,

Arizona,

Revenue

Bonds,

Central

Arizona

College,

Series

2017

-

BAM

Insured

5.000 07/01/35

734,762

1,000,000

(b) Sierra

Vista

Industrial

Development

Authority,

Arizona,

Education

Facility

Revenue

Bonds,

Desert

Heights

Charter

School

Project,

Refunding

Series

2024

6.125 06/01/57

957,649

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

46,869,780

HEALTH

CARE

-

20.5%

(13.0%

of

Total

Investments)

890,000

Arizona

Industrial

Development

Authority,

Arizona,

Lease

Revenue

Bonds,

Children's

National

Prince

County

Regional

Medical

Center,

Series

2020A

4.000 09/01/38

913,079

4,975,000

Arizona

Industrial

Development

Authority,

Hospital

Revenue

Bonds,

Phoenix

Children's

Hospital,

Series

2020A

4.000 02/01/50

4,384,148

1,000,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

Honor

Health,

Series

2024D

5.000 12/01/44

1,070,923

1,250,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

HonorHealth,

Series

2019A

5.000 09/01/42

1,294,411

3,275,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

HonorHealth,

Series

2021A

4.000 09/01/51

2,898,671

1,250,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Banner

Health,

Refunding

Series

2016A

5.000 01/01/32

1,278,556

1,000,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Banner

Health,

Refunding

Series

2016A

5.000 01/01/35

1,021,209

2,000,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Banner

Health,

Series

2017A

5.000 01/01/41

2,056,794

2,000,000

Maricopa

County

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Banner

Health,

Series

2019A

4.000 01/01/44

1,955,538

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

3,000,000

Phoenix

Industrial

Development

Authority,

Arizona,

Lease

Revenue

Bonds,

Mayo/Brooks

Rehabilitation

Facility

Project,

Series

2024A

5.000 %

10/31/44

$

3,201,105

2,250,000

Pima

County

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Tucson

Medical

Center,

Series

2021A

3.000 04/01/51

1,617,926

1,025,000

Yavapai

County

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

Yavapai

Regional

Medical

Center,

Refunding

Series

2016

5.000 08/01/36

1,032,783

815,000

Yavapai

County

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

Yavapai

Regional

Medical

Center,

Series

2019

5.000 08/01/39

856,566

650,000

Yavapai

County

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

Yavapai

Regional

Medical

Center,

Series

2019

4.000 08/01/43

620,582

3,625,000

Yuma

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

Yuma

Regional

Medical

Center,

Series

2024A

5.250 08/01/49

3,804,583

500,000

Yuma

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

Yuma

Regional

Medical

Center,

Series

2024A

4.000 08/01/54

449,293

2,770,000

Yuma

Industrial

Development

Authority,

Arizona,

Hospital

Revenue

Bonds,

Yuma

Regional

Medical

Center,

Series

2024A

5.250 08/01/54

2,869,634

TOTAL

HEALTH

CARE

31,325,801

HOUSING/MULTIFAMILY

-

1.7%

(1.1%

of

Total

Investments)

1,830,000

Arizona

Industrial

Development

Authority,

Student

Housing

Revenue

Bonds,

Provident

Group

-

NCCU

Properties

LLC-

North

Carolina

Central

University,

Series

2019A

-

BAM

Insured

5.000 06/01/49

1,851,659

250,000

Sierra

Vista

Industrial

Development

Authority,

Arizona,

Economic

Development

Revenue

Bonds,

Convertible

Capital

Appreciation

Revenue

Bonds,

Series

2021A

5.375 10/01/56

209,371

500,000

Sierra

Vista

Industrial

Development

Authority,

Arizona,

Economic

Development

Revenue

Bonds,

Convertible

Capital

Appreciation

Revenue

Bonds,

Series

2022A

7.000 10/01/56

507,825

TOTAL

HOUSING/MULTIFAMILY

2,568,855

HOUSING/SINGLE

FAMILY

-

3.5%

(2.2%

of

Total

Investments)

1,805,000

Maricopa

County

and

Phoenix

City

Industrial

Development

Authority,

Arizona,

Single

Family

Mortgage

Revenue

Bonds,

Series

2024C

4.850 09/01/54

1,826,170

815,000

Phoenix

and

Maricopa

County

Industrial

Development

Authority,

Arizona,

Single

Family

Mortgage

Revenue

Bonds,

Series

2023A

5.450 09/01/48

840,233

785,000

Phoenix

and

Maricopa

County

Industrial

Development

Authority,

Arizona,

Single

Family

Mortgage

Revenue

Bonds,

Series

2024A

4.650 09/01/54

782,961

735,000

Tucson

and

Pima

County

Industrial

Development

Authority,

Arizona,

Joint

Single

Family

Mortgage

Revenue

Bonds,

Series

2023A

4.850 07/01/48

751,799

1,090,000

Tucson

and

Pima

County

Industrial

Development

Authority,

Arizona,

Joint

Single

Family

Mortgage

Revenue

Bonds,

Series

2024A

4.800 07/01/54

1,100,703

TOTAL

HOUSING/SINGLE

FAMILY

5,301,866

INFORMATION

TECHNOLOGY

-

0.3%

(0.2%

of

Total

Investments)

410,000

(d) Chandler

Industrial

Development

Authority,

Arizona,

Industrial

Development

Revenue

Bonds,

Intel

Corporation

Project,

Series

2007,

(AMT),

(Mandatory

Put

6/15/28)

4.100 12/01/37

417,971

TOTAL

INFORMATION

TECHNOLOGY

417,971

LONG-TERM

CARE

-

4.8%

(3.0%

of

Total

Investments)

585,000

Arizona

Industrial

Development

Authority,

Multifamily

Housing

Revenue

Bonds,

Bridgewater

Avondale

Project,

Series

2017

5.375 01/01/38

495,201

1,000,000

Glendale

Industrial

Development

Authority,

Arizona,

Senior

Living

Revenue

Bonds,

Royal

Oaks

Royal

Oaks

-

Inspirata

Pointe

Project,

Series

2020A

5.000 05/15/41

1,004,100

1,735,000

Phoenix

Industrial

Development

Authority,

Arizona,

Multi-Family

Housing

Revenue

Bonds,

3rd

and

Indian

Road

Assisted

Living

Project,

Series

2016

5.400 10/01/36

1,451,763

2,000,000

Phoenix

Industrial

Development

Authority,

Arizona,

Senior

Living

Rental

Housing

Revenue

Bonds,

Christian

Care

Surprise,

Inc.

Project,

Refunding

Series

2025A

5.500 12/01/50

2,005,508

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAZ

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

CARE

(continued)

$

1,435,000

Tempe

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Friendship

Village

of

Tempe

Project,

Refunding

Series

2021A

4.000 %

12/01/38

$

1,441,905

1,080,000

(b) Tempe

Industrial

Development

Authority,

Arizona,

Revenue

Bonds,

Mirabella

at

ASU

Project,

Series

2017A

6.125 10/01/47

878,082

TOTAL

LONG-TERM

CARE

7,276,559

TAX

OBLIGATION/GENERAL

-

20.4%

(12.9%

of

Total

Investments)

575,000

Buckeye

Union

High

School

District

201,

Maricopa

County,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project,

Refunding

Series

2017

-

BAM

Insured

5.000 07/01/35

590,017

1,215,000

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2025

5.250 07/01/50

1,305,226

665,000

Glendale,

Arizona,

General

Obligation

Bonds,

Series

2024

5.000 07/01/44

734,977

2,105,000

Golder

Ranch

Fire

District,

Pima

and

Pinal

Counties,

Arizona,

General

Obligation

Bonds,

Series

2021

4.000 07/01/45

2,107,398

450,000

Maricopa

County

Elementary

District

Laveen,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

2024,

Series

2025A

5.000 07/01/45

492,174

1,045,000

Maricopa

County

School

District

Creighton

Elementary,

Arizona,

General

Obligation

Bonds,

School

Improvement

Series

2021C

4.000 07/01/34

1,117,438

2,315,000

Maricopa

County

School

District

Tolleson

Union

High,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

1990,

Series

1990A

5.000 07/01/38

2,436,117

630,000

Maricopa

County

School

District

Tolleson

Union

High,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

2017,

Series

2018A

5.000 07/01/37

649,123

800,000

Maricopa

County

School

District

Tempe

Elementary,

Arizona,

General

Obligation

Bonds,

School

Improvement,

Project

of

2022,

Series

2025B

5.000 07/01/43

894,803

300,000

Maricopa

County

School

District

Tempe

Elementary,

Arizona,

General

Obligation

Bonds,

School

Improvement,

Project

of

2022,

Series

2025B

5.000 07/01/44

331,283

600,000

Maricopa

County

School

District

6,

Arizona,

General

Obligation

Bonds,

Washington

Elementary

School

Improvement

Project

of

2022,

Series

2025B

-

BAM

Insured

5.000 07/01/44

652,299

1,250,000

Maricopa

County

School

District

Roosevelt

Elementary,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

of

2020,

Series

2024C

-

AGM

Insured

5.000 07/01/43

1,358,060

1,500,000

Maricopa

County

Special

Health

Care

District,

Arizona,

General

Obligation

Bonds,

Series

2018C

5.000 07/01/36

1,580,024

1,275,000

Maricopa

County

Union

High

School

District

Phoenix,

Arizona,

General

Obligation

Bonds,

School

Improvement

&

Project

of

2011

Series

2017E

5.000 07/01/33

1,321,177

1,295,000

Maricopa

County

Union

High

School

District

Agua

Fria,

Arizona,

General

Obligation

Bonds,

School

Improvement,

Project

of

2023,

Series

2024A

5.000 07/01/43

1,415,662

200,000

Maricopa

County

Union

High

School

District

Agua

Fria,

Arizona,

General

Obligation

Bonds,

School

Improvement,

Projects

of

2023

and

2024,

Series

2025

5.000 07/01/44

218,779

1,000,000

Mohave

County

Union

High

School

District

Colorado

River,

Arizona,

General

Obligation

Bonds,

School

Improvement

Series

2017

5.000 07/01/34

1,029,379

1,000,000

Mohave

County

Union

High

School

District

Colorado

River,

Arizona,

General

Obligation

Bonds,

School

Improvement

Series

2017

5.000 07/01/36

1,025,940

690,000

Northwest

Fire

District

of

Pima

County,

Arizona,

General

Obligation

Bonds,

Series

2017

5.000 07/01/36

709,846

2,000,000

Paradise

Valley

Unified

School

District

No.

69,

Maricopa

County,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

of

2019,

Series

2022D

4.000 07/01/41

2,070,386

1,000,000

Phoenix,

Arizona,

General

Obligation

Bonds,

Various

Purpose

Series

2024A

5.000 07/01/45

1,085,441

200,000

Pima

County

Unified

School

District

1,

Tucson,

Arizona,

General

Obligation

Bonds,

Project

of

2023

School

Improvement

Series

2024A

-

AGM

Insured

5.000 07/01/43

219,041

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

750,000

Pima

County

Unified

School

District

Marana,

Arizona,

General

Obligation

Bonds,

School

Improvement,

Project

of

2022,

Series

2025C

5.000 %

07/01/43

$

817,925

620,000

Pinal

County

School

District

Casa

Grande

Elementary,

Arizona,

General

Obligation

Bonds,

School

improvement

Project

2016,

Series

2017A

-

BAM

Insured

5.000 07/01/34

637,176

1,000,000

Pinal

County

School

District

Casa

Grande

Elementary,

Arizona,

General

Obligation

Bonds,

School

improvement

Project

2016,

Series

2017A

-

BAM

Insured

5.000 07/01/35

1,026,117

550,000

Pinal

County

Unified

School

District

Maricopa,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

of

2024,

Series

2025A

-

BAM

Insured

5.000 07/01/44

592,919

2,000,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

4.000 07/01/46

1,805,697

500,000

Tempe

Union

High

School

District

213,

Maricopa

County,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

of

2022,

Series

2025B

5.000 07/01/43

555,877

1,025,000

Tempe,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2024

5.000 07/01/44

1,129,748

950,000

Tempe,

Arizona,

General

Obligation

Bonds,

Series

2021

5.000 07/01/39

1,050,771

105,000

Western

Maricopa

Education

Center

District

402,

Maricopa

County,

Arizona,

General

Obligation

Bonds,

School

Improvement

Project

2012,

Series2014B

4.500 07/01/33

105,131

TOTAL

TAX

OBLIGATION/GENERAL

31,065,951

TAX

OBLIGATION/LIMITED

-

37.3%

(23.6%

of

Total

Investments)

100,000

(b) Arizona

Industrial

Development

Authority,

Arizona,

Economic

Development

Revenue

Bonds,

Linder

Village

Project

in

Meridian,

Ada

County,

Idaho,

Series

2020

5.000 06/01/31

102,914

1,250,000

Arizona

State

Transportation

Board,

Highway

Revenue

Bonds,

Refunding

Series

2016

5.000 07/01/35

1,260,610

275,000

Buckeye,

Arizona,

Excise

Tax

Revenue

Obligations,

Refunding

Series

2016

4.000 07/01/36

275,745

1,000,000

Buckeye,

Arizona,

Excise

Tax

Revenue

Obligations,

Refunding

Series

2025

4.500 07/01/43

1,057,883

1,213,000

Cadence

Community

Facilities

District,

Mesa,

Arizona,

Special

Assessment

Revenue

Bonds,

Assessment

District

3,

Series

2020

4.000 07/01/45

1,065,521

122,853

(b),(c)

Cahava

Springs

Revitalization

District,

Cave

Creek,

Arizona,

Special

Assessment

Bonds,

Series

2017A

7.000 07/01/41

122,853

1,210,000

(b) Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

General

Obligation

Bonds,

Series

2015

5.000 07/15/39

1,210,315

1,810,000

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

General

Obligation

Bonds,

Series

2017

-

AGM

Insured

5.000 07/15/42

1,850,856

2,445,000

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

General

Obligation

Bonds,

Series

2018

-

BAM

Insured

4.375 07/15/43

2,457,535

650,000

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

General

Obligation

Bonds,

Series

2021

-

BAM

Insured

4.000 07/15/41

658,056

484,000

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

Special

Assessment

Revenue

Bonds,

Assessment

District

1,

Series

2013

5.250 07/01/38

484,128

695,000

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

Special

Assessment

Revenue

Bonds,

Assessment

District

1,

Series

2019

5.200 07/01/43

681,867

2,279,000

Eastmark

Community

Facilities

District

1,

Mesa,

Arizona,

Special

Assessment

Revenue

Bonds,

Assessment

District

12,

Series

2021

3.750 07/01/45

1,817,798

1,035,000

Eastmark

Community

Facilities

District

2,

Mesa,

Arizona,

General

Obligation

Bonds,

Series

2020

3.500 07/15/44

802,245

105,000

Estrella

Mountain

Ranch

Community

Facilities

District,

Goodyear,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2017

-

AGM

Insured

5.000 07/15/32

108,179

1,145,000

Estrella

Mountain

Ranch

Community

Facilities

District,

Goodyear,

Arizona,

Special

Assessment

Revenue

Bonds,

Lucero

Assessment

District

2,

Series

2023

5.750 07/01/46

1,161,609

370,000

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2016

-

BAM

Insured

4.000 07/15/36

370,911

1,000,000

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2017

-

BAM

Insured

5.000 07/15/37

1,021,407

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAZ

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

590,000

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2018

-

BAM

Insured

5.000 %

07/15/38

$

602,330

1,000,000

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2020

-

BAM

Insured

4.000 07/15/40

1,011,817

1,000,000

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2022

-

AGM

Insured

5.000 07/15/42

1,051,585

299,000

Festival

Ranch

Community

Facilities

District,

Buckeye,

Arizona,

Special

Assessment

Revenue

Bonds, Assessment

District

11,

Series

2017

5.200 07/01/37

299,180

1,469,000

Floreo

at

Teravalis

Community

Facilities

District,

Arizona,

Special

Assessment

Revenue

Bonds,

District

Series

2025

5.750 07/01/40

1,575,998

545,000

Goodyear

Community

Facilities

Utilities

District

1,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2016

4.000 07/15/32

547,978

1,250,000

Guam

Government,

Limited

Obligation

Section

Revenue

Bonds,

Series

2016A

5.000 12/01/46

1,259,556

615,000

Matching

Fund

Special

Purpose

Securitization

Corporation,

Virgin

Islands,

Revenue

Bonds,

Series

2022A

5.000 10/01/39

652,107

200,000

Merrill

Ranch

Community

Facilities

District

2,

Florence,

Arizona,

General

Obligation

Bonds,

Series

2016

5.000 07/15/31

201,574

385,000

Merrill

Ranch

Community

Facilities

District

2,

Florence,

Arizona,

General

Obligation

Bonds,

Series

2017

-

BAM

Insured

5.000 07/15/42

391,670

400,000

Parkway

Community

Facilities

District

1,

Prescott

Valley,

Arizona,

General

Obligation

Bonds,

Series

2006

5.350 07/15/31

400,107

1,625,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Excise

Tax

Revenue

Bonds,

Subordinate

Lien

Series

2020A

4.000 07/01/45

1,631,770

580,000

Phoenix

Mesa

Gateway

Airport

Authority,

Arizona,

Special

Facility

Revenue

Bonds,

Mesa

Project,

Series

2012,

(AMT)

5.000 07/01/38

580,753

1,500,000

Pinal

County,

Arizona,

Pledged

Revenue

Obligations,

Series

2019

4.000 08/01/38

1,526,278

6,908,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

0.000 07/01/46

2,484,881

915,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

5.000 07/01/58

898,098

2,440,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.784 07/01/58

2,364,146

3,000,000

Queen

Creek,

Arizona,

Certificates

of

Participation,

Series

2026

5.250 10/01/56

3,178,108

390,000

Queen

Creek,

Arizona,

Excise

Tax

&

State

Shared

Revenue

Obligation

Bonds,

Refunding

Series

2016

4.000 08/01/34

391,901

395,000

Queen

Creek,

Arizona,

Excise

Tax

&

State

Shared

Revenue

Obligation

Bonds,

Refunding

Series

2016

4.000 08/01/36

396,329

2,500,000

Queen

Creek,

Arizona,

Excise

Tax

&

State

Shared

Revenue

Obligation

Bonds,

Series

2020

4.000 08/01/45

2,505,916

2,000,000

Queen

Creek,

Arizona,

Excise

Tax

and

State

Shared

Revenue

Obligation

Bonds,

Series

2024

5.000 08/01/49

2,109,614

1,000,000

Queen

Creek,

Arizona,

Excise

Tax

and

State

Shared

Revenue

Obligation

Bonds,

Series

2024

5.000 08/01/54

1,047,467

280,000

Sedona,

Arizona,

Excise

Tax

Revenue

Bonds,

Series

2024

-

AGM

Insured

5.000 07/01/54

290,245

1,650,000

Sundance

Community

Facilities

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2018

-

BAM

Insured

5.000 07/15/39

1,722,014

347,000

Superstition

Vistas

Community

Facilities

District

1,

Apache

Junction,

Arizona,

Special

Assessment

Bonds, Assessment

Area

3,

Series

2024

5.800 07/01/48

352,441

694,000

Superstition

Vistas

Community

Facilities

District

1,

Apache

Junction,

Arizona,

Special

Assessment

Revenue

Bonds,

Series

2023

6.000 07/01/47

719,718

500,000

Superstition

Vistas

Community

Facilities

District

1,

Arizona,

General

Obligation

Bonds,

Series

2025

4.500 07/15/45

507,043

235,000

Superstition

Vistas

Community

Facilities

District

2,

Arizona,

Special

Assessment

Bonds,

Assessment

Area

2,

Series

2025

5.700 07/01/40

251,972

750,000

Tartesso

West

Community

Facility

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2024

4.000 07/15/47

731,112

2,500,000

Town

of

Queen

Creek,

Arizona,

Excise

Tax

and

State

Shared

Revenue

Obligation

Bonds,

Series

2022

5.000 08/01/47

2,628,530

500,000

Verrado

District

Community

Faciliites

District,

Buckeye,

Arizona,

General

Obligation

Bonds,

Series

2023

-

BAM

Insured

4.125 07/15/41

509,579

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

405,000

Vistancia

North

Community

Facilities

District,

Peoria,

Arizona,

General

Obligation

Bonds,

Series

2024

-

AGM

Insured

4.375 %

07/15/49

$

396,388

3,965,000

Yavapai

County

Jail

District,

Arizona,

Pleged

Revenue

Obligation

Bonds,

Series

2020

-

BAM

Insured

4.000 07/01/40

4,010,585

1,160,000

Yuma

County,

Arizona,

Pledge

Revenue

Obligations,

Series

2022

-

BAM

Insured

4.250 07/15/42

1,201,867

TOTAL

TAX

OBLIGATION/LIMITED

56,941,089

TRANSPORTATION

-

6.2%

(3.9%

of

Total

Investments)

2,000,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Junior

Lien

Series

2019B,

(AMT)

5.000 07/01/49

2,024,389

1,550,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Refunding

Junior

Lien

Series

2025

5.000 07/01/45

1,691,448

1,000,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Senior

Lien

Series

2017A,

(AMT)

5.000 07/01/37

1,023,833

1,000,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Senior

Lien

Series

2017A,

(AMT)

5.000 07/01/42

1,017,196

1,500,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Airport

Revenue

Bonds,

Senior

Lien

Series

2018,

(AMT)

5.000 07/01/43

1,536,013

1,045,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Rental

Car

Facility

Charge

Revenue

Bonds,

Series

2019A

5.000 07/01/35

1,118,463

1,000,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Rental

Car

Facility

Charge

Revenue

Bonds,

Series

2019A

5.000 07/01/38

1,058,732

TOTAL

TRANSPORTATION

9,470,074

U.S.

GUARANTEED

-

1.5%

(e)(0.9%

of

Total

Investments)

550,000

Estrella

Mountain

Ranch

Community

Facilities

District,

Goodyear,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2017,

(Pre-

refunded

7/15/27)

-

AGM

Insured

5.000 07/15/32

571,102

55,000

Goodyear

Community

Facilities

Utilities

District

1,

Arizona,

General

Obligation

Bonds,

Refunding

Series

2016,

(Pre-refunded

7/15/26)

4.000 07/15/32

55,339

150,000

Queen

Creek,

Arizona,

Excise

Tax

&

State

Shared

Revenue

Obligation

Bonds,

Refunding

Series

2016,

(Pre-refunded

8/01/26)

4.000 08/01/34

150,906

150,000

Queen

Creek,

Arizona,

Excise

Tax

&

State

Shared

Revenue

Obligation

Bonds,

Refunding

Series

2016,

(Pre-refunded

8/01/26)

4.000 08/01/36

150,905

1,320,000

Scottsdale

Municipal

Property

Corporation,

Arizona,

Excise

Tax

Revenue

Bonds,

Refunding

Series

2017,

(Pre-refunded

7/01/27)

5.000 07/01/36

1,370,106

TOTAL

U.S.

GUARANTEED

2,298,358

UTILITIES

-

31.4%

(19.8%

of

Total

Investments)

30,000

Carefree

Utilities

Community

Facilities

District,

Arizona,

Water

System

Revenue

Bonds,

Series

2021

4.000 07/01/41

30,541

650,000

Carefree

Utilities

Community

Facilities

District,

Arizona,

Water

System

Revenue

Bonds,

Series

2021

4.000 07/01/46

621,400

655,000

Central

Arizona

Water

Conservation

District,

Arizona,

Water

Delivery

O&M

Revenue

Bonds,

Series

2016

5.000 01/01/36

656,707

2,615,000

City

of

Mesa,

Arizona,

Utility

System

Revenue

Bonds,

Series

2022C

5.000 07/01/36

3,150,404

1,250,000

Gilbert

Water

Resource

Municipal

Property

Corporation,

Arizona,

Utility

System

Revenue

Bonds,

Senior

Lien

Green

Series

2022

4.000 07/15/47

1,256,307

1,000,000

Glendale,

Arizona,

Water

and

Sewer

Revenue

Bonds,

Refunding

Senior

Lien

Series

2025

5.000 07/01/45

1,097,017

785,000

Goodyear,

Arizona,

Water

and

Sewer

Revenue

Obligations,

Refunding

Subordinate

Lien

Series

2016

-

AGM

Insured

5.000 07/01/45

788,014

875,000

Goodyear,

Arizona,

Water

and

Sewer

Revenue

Obligations,

Subordinate

Lien

Series

2020

-

AGM

Insured

4.000 07/01/49

835,533

1,825,000

Goodyear,

Arizona,

Water

and

Sewer

Revenue

Obligations,

Subordinate

Lien

Series

2025

5.000 07/01/43

2,018,301

200,000

Guam

Power

Authority,

Revenue

Bonds,

Refunding

Series

2024A

5.000 10/01/42

215,227

1,700,000

Mesa,

Arizona,

Utility

System

Revenue

Bonds,

Series

2018

5.000 07/01/42

1,768,700

1,205,000

Mesa,

Arizona,

Utility

System

Revenue

Bonds,

Series

2022A

-

BAM

Insured

5.000 07/01/46

1,270,765

500,000

Mesa,

Arizona,

Utility

System

Revenue

Bonds,

Series

2025

4.500 07/01/49

501,937

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAZ

See

Notes

to

Financial

Statements

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

1,840,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Wastewater

System

Revenue

Bonds,

Junior

Lien

Series

2023

5.250 %

07/01/47

$

1,998,163

1,135,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Wastewater

System

Revenue

Bonds,

Refunding

Junior

Lien

Series

2014

5.000 07/01/29

1,137,596

1,000,000

Phoenix

Civic

Improvement

Corporation,

Arizona,

Water

System

Revenue

Bonds,

Junior

Lien

Series

2021A

4.000 07/01/42

1,020,417

750,000

(b) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A

5.000 07/01/47

751,682

1,000,000

(b) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021B

5.000 07/01/37

1,044,258

2,500,000

Salt

River

Project

Agricultural

Improvement

and

Power

District,

Arizona,

Electric

System

Revenue

Bonds,

Series

2023A

5.000 01/01/47

2,653,956

4,000,000

Salt

River

Project

Agricultural

Improvement

and

Power

District,

Arizona,

Electric

System

Revenue

Bonds,

Series

2023A

5.000 01/01/50

4,200,598

1,155,000

Salt

River

Project

Agricultural

Improvement

and

Power

District,

Arizona,

Electric

System

Revenue

Bonds,

Series

2023B

5.000 01/01/48

1,229,236

3,000,000

Salt

River

Project

Agricultural

Improvement

and

Power

District,

Arizona,

Electric

System

Revenue

Bonds,

Series

2024A

5.000 01/01/49

3,202,257

1,290,000

Salt

River

Project

Agricultural

Improvement

and

Power

District,

Arizona,

Electric

System

Revenue

Bonds,

Series

2025

5.000 01/01/51

1,371,254

4,500,000

Salt

Verde

Financial

Corporation,

Arizona,

Senior

Gas

Revenue

Bonds,

Citigroup

Energy

Inc

Prepay

Contract

Obligations,

Series

2007

5.500 12/01/29

4,886,971

5,665,000

Salt

Verde

Financial

Corporation,

Arizona,

Senior

Gas

Revenue

Bonds,

Citigroup

Energy

Inc

Prepay

Contract

Obligations,

Series

2007

5.000 12/01/37

6,315,760

805,000

Surprise,

Arizona,

Utility System

Revenue

Bonds,

Refunding

Senior

Lien

Series

2018

5.000 07/01/36

850,380

3,000,000

Yuma,

Arizona,

Utilities

System

Revenue

Bonds,

Series

2021

-

BAM

Insured

4.000 07/01/40

3,084,151

TOTAL

UTILITIES

47,957,532

TOTAL

MUNICIPAL

BONDS

(Cost

$241,084,753)

241,493,836

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$

241,084,753)

241,493,836

AMTP

SHARES,

NET

-

(57.9)%

(f) (88,276,062)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.4)%

(681,581)

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

-

100%

$

152,536,193

AMT

Alternative

Minimum

Tax

(a) When-issued

or

delayed

delivery

security.

(b) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$14,732,058

or

6.1%

of

Total

Investments.

(c) Defaulted

security.

A

security

whose

issuer

has

failed

to

fully

pay

principal

and/or

interest

when

due,

or

is

under

the

protection

of

bankruptcy.

(d) Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable. For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(e) Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(f) AMTP

Shares,

Net

as

a

percentage

of

Total

Investments

is

36.6%.

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026

#### NKX
See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

161.8% (100.0%

of

Total

Investments)

X

1,068,061,453

MUNICIPAL

BONDS

-

161.8% (100.0%

of

Total

Investments)

X

–

CONSUMER

STAPLES

-

0.0%

(0.0%

of

Total

Investments)

$

235,000

California

County

Tobacco

Securitization

Agency,

Tobacco

Settlement

Asset-Backed

Bonds,

Los

Angeles

County

Securitization

Corporation,

Series

2020A

4.000 %

06/01/49

$

209,579

TOTAL

CONSUMER

STAPLES

209,579

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

14.1%

(8.7%

of

Total

Investments)

1,515,000

California

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

the

Pacific,

Series

2023

5.000 11/01/53

1,587,401

700,000

(a) California

Enterprise

Development

Authority,

Charter

School

Revenue

Bonds,

Academy

for

Academic

Excellence

Project,

Series

2020A

5.000 07/01/50

668,886

500,000

(a) California

Enterprise

Development

Authority,

Charter

School

Revenue

Bonds,

Norton

Science

&

Language

Academy

Project,

Series

2021

4.000 07/01/61

374,924

6,760,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

Los

Angeles

County

Museum

of

Natural

History

Foundation,

Series

2020

4.000 07/01/50

6,474,609

13,430,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

UCSF

Clinical

and

Life

Sciences

Building,

Series

2025

4.500 05/15/55

13,531,755

455,000

(a) California

Municipal

Finance

Authority

Charter

School

Revenue

Bonds,

River

Charter

Schools

Project,

Series

2018A

5.500 06/01/53

437,275

3,300,000

California

Municipal

Finance

Authority,

Academic

Facilities

Revenue

Bonds,

Scripps

College

Series

2025

5.000 07/01/55

3,442,743

1,000,000

(a) California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

John

Adams

Academies,

Inc.

-

Lincoln

Project,

Taxable

Series

2019B

5.000 10/01/39

1,005,701

995,000

(a) California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

Palmdale

Aerospace

Academy

Project,

Series

2016A

5.000 07/01/46

964,778

1,560,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

Goodwill

Industries

of

Sacramento

Valley

&

Northern

Nevada

Project,

Series

2012A

6.875 01/01/42

1,554,590

1,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

The

Master's

University

&

Seminary,

Series

2019

5.000 08/01/48

979,335

1,100,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Arts

in

Action

Charter

Schools

-

Obligated

Group,

Series

2020A

5.000 06/01/59

910,901

250,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Aspire

Public

School

-

Obligated

Group,Issue

No.6,

Series

2020A

5.000 08/01/42

252,193

1,000,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Camino

Nuevo

Charter

Academy

Sustainability

Series

2023A

5.000 06/01/43

1,014,678

415,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Lifeline

Education

Charter

School

Project,

Series

2020A

5.000 07/01/55

396,398

600,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Social

Bonds

iLead

Lancaster

Project,

Series

2021A

5.000 06/01/51

536,886

555,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Stem

Preparatory

Schools

Obligated

Group,

Series

2023A

5.125 06/01/53

544,832

635,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2015A

5.000 07/01/45

635,105

750,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2016A

5.000 07/01/46

750,056

4,925,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2016C

5.000 07/01/46

4,927,526

1,000,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Granada

Hills

Charter

High

School

Obligated

Group,

Series

2019

5.000 07/01/43

1,000,881

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NKX

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

280,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Value

Schools,

Series

2016A

5.750 %

07/01/41

$

281,300

7,710,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2017A

5.000 11/01/47

7,821,376

5,500,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2024A

4.000 11/01/49

5,417,898

1,115,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2024A

4.000 11/01/55

1,068,523

15,410,000

University

of

California,

General

Revenue

Bonds,

Limited

Project

Series

2017M

5.000 05/15/37

15,857,625

10,000,000

University

of

California,

General

Revenue

Bonds,

Limited

Project

Series

2018O

5.000 05/15/43

10,418,518

9,425,000

University

of

California,

General

Revenue

Bonds,

Series

2025CC

5.000 05/15/53

10,053,159

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

92,909,852

HEALTH

CARE

-

30.3%

(18.7%

of

Total

Investments)

15,875,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2016B

5.000 11/15/46

16,025,984

10,000,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2017A

4.000 11/15/48

9,182,746

5,375,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Adventist

Health

System/West,

Refunding

Series

2016A

4.000 03/01/39

5,374,887

7,760,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Cedars-Sinai

Health

System,

Series

2021A

4.000 08/15/48

7,430,182

7,900,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Children's

Hospital

Los

Angeles,

Series

2017A

5.000 08/15/42

7,971,346

4,265,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Children's

Hospital

Los

Angeles,

Series

2017A

5.000 08/15/47

4,239,448

2,930,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

City

of

Hope

National

Medical

Center,

Series

2019

4.000 11/15/45

2,750,873

3,390,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A

4.000 04/01/44

3,325,452

7,500,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Lucile

Salter

Packard

Children's

Hospital

at

Stanford,

Refunding

Forward

Delivery

Series

2022A

4.000 05/15/46

7,278,910

5,235,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Lucile

Salter

Packard

Children's

Hospital

at

Stanford,

Refunding

Forward

Delivery

Series

2022A

4.000 05/15/51

4,944,882

795,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Refunding

Series

2014A

5.000 10/01/38

796,142

6,760,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Series

2014B

5.000 10/01/44

6,765,317

13,660,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Saint

Joseph

Health,

Refunding

Series

2016A

-

BAM

Insured

4.000 10/01/47

12,755,457

9,450,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Stanford

Health

Care,

Series

2020A

4.000 08/15/50

9,075,403

7,635,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

Adventist

Health

Energy

Projects,

Series

2024A

5.250 07/01/49

7,846,989

6,465,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

Adventist

Health

Energy

Projects,

Series

2024A

5.250 07/01/54

6,593,108

5,495,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Community

Health

System,

Series

2021A

-

AGM

Insured

4.000 02/01/51

4,965,284

7,700,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Community

Health

System,

Series

2021A

4.000 02/01/51

6,761,518

2,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Eisenhower

Medical

Center,

Refunding

Series

2017A

5.000 07/01/42

2,022,445

250,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Eisenhower

Medical

Center,

Refunding

Series

2017A

5.000 07/01/47

250,730

1,635,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2015

5.000 11/01/35

1,635,773

1,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2015

5.000 11/01/40

1,000,190

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

3,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2015

5.000 %

11/01/44

$

3,000,001

2,690,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

5.250 11/01/36

2,710,159

2,585,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

5.250 11/01/41

2,596,137

1,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

5.000 11/01/47

969,588

3,200,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

5.250 11/01/47

3,201,086

3,000,000

California

Municipal

Finance

Authority,

Reveue

Bonds,

Community

Medical

Centers,

Series

2017A

5.000 02/01/42

3,027,393

1,855,000

California

Municipal

Financing

Authority,

Certificates

of

Participation,

Palomar

Health,

Series

2022A

5.250 11/01/52

1,892,525

500,000

California

Public

Finance

Authority,

Revenue

Bonds,

Henry

Mayo

Newhall

Hospital,

Series

2017

5.000 10/15/37

503,143

13,615,000

California

Public

Finance

Authority,

Revenue

Bonds,

Henry

Mayo

Newhall

Hospital,

Series

2017

5.000 10/15/47

13,625,270

1,100,000

California

Statewide

Communities

Development

Authority,

California,

Redlands

Community

Hospital,

Revenue

Bonds,

Series

2016

5.000 10/01/46

1,107,048

1,200,000

California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2014A

5.250 12/01/44

1,201,601

4,000,000

California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2014A

5.500 12/01/54

4,005,572

1,535,000

(a) California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2016A

5.250 12/01/56

1,535,839

15,205,000

(a) California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2018A

5.500 12/01/58

15,482,912

2,655,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Adventist

Health

System/West,

Series

2018A

5.000 03/01/42

2,711,018

1,940,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Marin

General

Hospital,

Green

Series

2018A

4.000 08/01/45

1,799,308

845,000

California

Statewide

Community

Development

Authority,

Health

Revenue

Bonds,

Enloe

Medical

Center,

Refunding

Series

2022A

-

AGM

Insured

5.250 08/15/52

866,365

2,550,000

Palomar

Pomerado

Health

Care

District,

California,

Certificates

of

Participation,

Series

2017

5.000 11/01/32

2,556,006

8,895,000

Palomar

Pomerado

Health

System,

California,

Revenue

Bonds,

Refunding

Series

2016

4.000 11/01/39

7,554,900

520,000

Washington

Township

Health

Care

District,

California,

Revenue

Bonds,

Series

2023A

5.750 07/01/48

554,611

TOTAL

HEALTH

CARE

199,893,548

HOUSING/MULTIFAMILY

-

18.3%

(11.3%

of

Total

Investments)

5,915,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Creekwood,

Series

2021A

4.000 02/01/56

3,885,321

7,570,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Glendale

Properties,

Junior

Series

2021A-2

4.000 08/01/47

6,113,530

5,355,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Serenity

at

Larkspur

Apartments,

Series

2020A

5.000 02/01/50

4,096,575

230,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Summit

at

Sausalito

Apartments,

Series

2021A-2

4.000 02/01/50

173,825

1,645,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

The

Arbors,

Series

2020A

5.000 08/01/50

1,577,681

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NKX

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

500,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Verdant

at

Green

Valley

Apartments,

Series

2019A

5.000 %

08/01/49

$

470,485

5,345,000

(a) California

Community

Housing

Agency,

Workforce

Housing

Revenue

Bonds,

Annadel

Apartments,

Series

2019A

5.000 04/01/49

4,338,441

6,924,688

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2019-2

4.000 03/20/33

7,213,184

6,067,574

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2021-1

3.500 11/20/35

6,211,903

1,010,564

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series2019-1

4.250 01/15/35

1,065,889

5,943,353

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Social

Certificates

Series

2023-1

4.375 09/20/36

6,322,372

5,041,731

(b) California

Municipal

Finance

Agency,

Municipal

Certificates,

Series

2025-2

Class

4.217 11/20/40

5,124,538

160,000

(a) California

Public

Finance

Authority,

University

Housing

Revenue

Bonds,

National

Campus

Community

Development

-

Claremont

Properties

LLC

Claremont

Colleges

Project,

Refunding

Series

2023A

5.250 07/01/40

176,639

8,205,000

(a) CMFA

Special

Finance

Agency

I,

California,

Essential

Housing

Revenue

Bonds,

The

Mix

at

Center

City,

Series

2021A-2

4.000 04/01/56

6,444,201

2,740,000

(a) CMFA

Special

Finance

Agency,

California,

Essential

Housing

Revenue

Bonds,

Enclave

Apartments,

Senior

Series

2022A-1

4.000 08/01/58

2,124,590

1,440,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

777

Place-Pomona,

Senior

Lien

Series

2021A-1

3.600 05/01/47

1,227,553

3,980,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

777

Place-Pomona,

Senior

Lien

Series

2021A-2

3.250 05/01/57

2,802,713

6,135,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Acacia

on

Santa

Rosa

Creek,

Senior

Lien

Series

2021A

4.000 10/01/56

5,161,487

250,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Altana

Glendale,

Series

2021A-1

3.500 10/01/46

219,191

7,065,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Altana

Glendale,

Series

2021A-2

4.000 10/01/56

5,886,175

9,485,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Center

City

Anaheim,

Series

2020A

5.000 01/01/54

8,463,035

7,485,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Moda

at

Monrovia

Station,

Social

Series

2021A-2

4.000 10/01/56

5,858,954

770,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Monterrey

Station

Apartments,

Senior

Lien

Series

2021A-1

3.000 07/01/43

637,882

3,340,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Monterrey

Station

Apartments,

Senior

Lien

Series

2021A-1

3.125 07/01/56

2,226,922

2,485,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Oceanaire-Long

Beach,

Social

Series

2021A-2

4.000 09/01/56

1,820,460

155,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Orange

City

Portfolio,

Mezzanine

Lien

Series

2021B

4.000 03/01/57

117,041

3,775,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Parallel-Anaheim

Series

2021A

4.000 08/01/56

3,469,359

1,360,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Pasadena

Portfolio

Social

Bond,

Mezzanine

Senior

Series

2021B

4.000 12/01/56

1,037,494

555,000

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Pasadena

Portfolio

Social

Bond,

Series

2021A-2

3.000 12/01/56

393,133

2,720,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Union

South

Bay,

Series

2021A-2

4.000 07/01/56

2,286,123

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

1,975,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Westgate

Phase

1-Pasadena

Apartments,

Senior

Lien

Series

2021A-1

3.000 %

06/01/47

$

1,433,537

7,200,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Westgate

Phase

1-Pasadena

Apartments,

Senior

Lien

Series

2021A-2

3.125 06/01/57

4,442,139

7,285,000

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Wood

Creek

Apartments,

Senior

Lien

Series

2021A-1

3.000 12/01/49

5,268,947

3,285,000

Independent

Cities

Finance

Authority,

California,

Mobile

Home

Park

Revenue

Bonds, Rancho

Vallecitos

Mobile

Home

Park,

Series

2013

5.000 04/15/38

3,289,133

4,510,000

Independent

Cities

Finance

Authority,

California,

Mobile

Home

Park

Revenue

Bonds,

Augusta

Communities

Mobile

Home

Park,

Refunding

Series

2022A

5.250 05/15/56

4,634,348

670,000

La

Verne,

California,

Mobile

Home

Park

Revenue

Bonds,

Copacabana

Mobile

Home

Park,

Refunding

Series

2014

5.000 06/15/44

670,386

185,000

La

Verne,

California,

Mobile

Home

Park

Revenue

Bonds,

Copacabana

Mobile

Home

Park,

Refunding

Series

2014

5.000 06/15/49

185,052

1,420,000

Los

Angeles

Housing

Authority,

California,

Multifamily

Housing

Revenue

Bonds,

Clarendon

Apartments,

Senior

Series

2024A

4.400 12/01/54

1,338,718

510,000

Los

Angeles

Housing

Authority,

California,

Multifamily

Housing

Revenue

Bonds,

Clarendon

Apartments,

Senior

Series

2024A

4.500 12/01/59

486,939

1,965,000

Los

Angeles

Housing

Authority,

California,

Multifamily

Housing

Revenue

Bonds,

Clarendon

Apartments,

Senior

Series

2024A

4.550 12/01/61

1,923,905

TOTAL

HOUSING/MULTIFAMILY

120,619,800

LONG-TERM

CARE

-

0.4%

(0.3%

of

Total

Investments)

2,500,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

HumanGood

California

Obligated

Group,

Refunding

Series

2019A

5.000 10/01/44

2,510,560

TOTAL

LONG-TERM

CARE

2,510,560

TAX

OBLIGATION/GENERAL

-

37.6%

(23.2%

of

Total

Investments)

2,210,000

Butte-Glenn

Community

College

District,

Butte

and

Glenn

Counties,

California,

General

Obligation

Bonds,

Election

2016

Series

2017A

5.250 08/01/46

2,257,558

1,600,000

California

State,

General

Obligation

Bonds,

Refunding

Various

Purpose

Bid

Group

C

Series

2016

5.000 09/01/32

1,622,964

13,000,000

California

State,

General

Obligation

Bonds,

Refunding

Various

Purpose

Series

2018. Bid

Group

C

5.000 08/01/37

13,758,749

3,000,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2017

5.000 11/01/47

3,053,197

5,000,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2018. Bid

Group

A/B

5.000 10/01/48

5,146,474

20,750,000

Coachella

Valley

Unified

School

District,

Riverside

County,

California,

General

Obligation

Bonds,

Election

2005

Series

2010C

-

AGM

Insured

0.000 08/01/43

10,296,198

3,000,000

Franklin-McKinley

School

District,

Santa

Clara

County,

California,

General

Obligation

Bonds,

Election

of

2020,

Series

2023B

4.250 08/01/49

2,995,997

1,725,000

Los

Angeles

Community

College

District,

California,

General

Obligation

Bonds,

2008

Election

Series

2017J

4.000 08/01/41

1,736,668

19,230,000

Los

Angeles

County,

California,

Tax

and

Revenue

Anticipation

Notes,

Series

2025-26

5.000 06/30/26

19,414,135

5,000,000

Los

Angeles

Unified

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Dedicated

Ad

Valorem

Property

Tax,

Sustainability

Green

Series

2022QRR

5.250 07/01/47

5,430,472

22,290,000

Los

Angeles,

California,

General

Obligation

Bonds,

Tax

&

Revenue

Anticipation

Notes,

Series

2025

5.000 06/25/26

22,484,396

1,150,000

Monterey

Peninsula

Community

College

District,

Monterey

County,

California,

General

Obligation

Bonds,

Election

of

2020

Series

2024B

4.000 08/01/51

1,124,769

5,000,000

Palmdale

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

2022

Election

Series

2025

4.250 08/01/55

4,886,283

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NKX

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

16,744,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

4.000 %

07/01/41

$

16,251,281

5,000,000

San

Diego

Community

College

District,

San

Diego

County,

California,

General

Obligation

Bonds,

Election

of

2024,

Series

2025A-1

4.000 08/01/50

4,888,319

10,000,000

San

Diego

Unified

School

District,

San

Diego

County,

California,

General

Obligation

Bonds,

Dedicated

Unlimited

Ad

Valorem

Property

Tax,

2018

Election

Green

Series

2023G-3

4.000 07/01/53

9,673,703

11,980,000

San

Diego

Unified

School

District,

San

Diego

County,

California,

General

Obligation

Bonds,

Refunding

Series

2012R-1

0.000 07/01/31

10,577,243

3,400,000

San

Francisco

Community

College

District,

California,

General

Obligation

Bonds,

Election

2020

Series

2020A

4.000 06/15/45

3,400,526

3,345,000

San

Jacinto

Unified

School

District,

Riverside

County,

California,

General

Obligation

Bonds,

Election

2024

Series

2025

4.125 08/01/55

3,287,095

1,580,000

Santa

Ana

College

Improvement

District

1,

Orange

County,

California,

General

Obligation

Bonds,

Rancho

Santiago

Community

College

District,

Election

of

2012,

Series

2019C

3.000 08/01/39

1,497,522

10,000,000

Southwestern

Community

College

District,

San

Diego

County,

California,

General

Obligation

Bonds,

Election

of

2008,

Series

2011C

0.000 08/01/41

5,808,465

23,280,000

(c) Stockton

Unified

School

District,

San

Joaquin

County,

California,

General

Obligation

Bonds,

Election

2008

Series

2011D

-

AGC

Insured

0.000 08/01/47

27,455,415

38,845,000

(c) Stockton

Unified

School

District,

San

Joaquin

County,

California,

General

Obligation

Bonds,

Election

2008

Series

2011D

-

AGM

Insured

0.000 08/01/50

45,585,466

15,780,000

(c) Sylvan

Union

School

District,

Stanislaus

County,

California,

General

Obligation

Bonds,

Election

of

2006,

Series

2010

-

AGM

Insured

0.000 08/01/49

14,818,280

2,500,000

Washington

Township

Health

Care

District,

California,

General

Obligation

Bonds,

2020

Election

Series

2023B

-

AGM

Insured

4.500 08/01/53

2,510,399

8,345,000

(c) Yosemite

Community

College

District,

California,

General

Obligation

Bonds,

Capital

Appreciation,

Election

2004,

Series

2010D

0.000 08/01/42

7,976,040

TOTAL

TAX

OBLIGATION/GENERAL

247,937,614

TAX

OBLIGATION/LIMITED

-

17.5%

(10.8%

of

Total

Investments)

1,260,000

Brea

and

Olinda

Unified

School

District,

Orange

County,

California,

Certificates

of

Participation

Refunding,

Series

2002A

-

AGM

Insured

5.125 08/01/26

1,262,396

210,000

Brentwood

Infrastructure

Financing

Authority,

California,

Infrastructure

Revenue

Bonds,

Refunding

Subordinated

Series

2014B

5.000 09/02/36

210,138

1,000,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Community

Facilities

District

2023-11

Hesperia-

Silverwood

Improvement

Area

1,

Series

2025

5.125 09/01/55

1,015,608

2,830,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Community

Facilities

District

2023-11

Hesperia-

Silverwood

Improvement

Area

1,

Series

2025

5.250 09/01/60

2,880,351

2,065,000

California

State

Public

Works

Board,

Lease

Revenue

Bonds,

Department

of

Education,

Riverside

Campus

Project,

Series

2012H

5.000 04/01/31

2,072,148

545,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2016B

5.000 09/02/46

546,488

1,000,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2017C

5.000 09/02/47

1,004,500

745,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2018A

5.000 09/02/47

754,140

750,000

Corona,

California,

Special

Tax

Bonds,

Community

Facilities

District

2018-1

Bedford,

Series

2018A

5.000 09/01/48

754,764

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

3,455,000

(a) El

Monte,

California,

Senior

Lien

Certificates

of

Participation,

Department

of

Public

Services

Facility

Phase

II,

Series

2001

-

AMBAC

Insured

5.250 %

01/01/34

$

3,462,332

6,200,000

Fresno

Joint

Powers

Financing

Authority,

California,

Lease

Revenue

Bonds,

Public

Safety

Projects

Series

2025A

4.625 04/01/55

6,294,738

980,000

Lathrop,

California,

Limited

Obligation

Improvement

Bonds,

Crossroads

Assessment

District,

Series

2015

5.000 09/02/40

983,894

2,760,000

Los

Angeles

County

Facilities

Inc,

California,

Lease

Revenue

Bonds,

Vermont

Corridor

County

Administration

Building,

Series

2018A

5.000 12/01/51

2,826,616

10,000,000

Los

Angeles

County

Metropolitan

Transportation

Authority,

California,

Measure

R

Sales

Tax

Revenue

Bonds,

Senior

Series

2016A

5.000 06/01/38

10,057,392

3,220,000

Los

Angeles

County

Metropolitan

Transportation

Authority,

California,

Proposition

C

Sales

Tax

Revenue

Bonds,

Green

Senior

Lien

Series

2019A

5.000 07/01/44

3,372,149

3,580,000

Los

Angeles

County

Public

Works

Financing

Authority,

California,

Lease

Revenue

Bonds,

Series

2025J

5.250 12/01/50

3,906,137

1,000,000

Menifee

Union

School

District,

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2014-2,

Series

2017

5.000 09/01/47

1,007,652

16,657,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

0.000 07/01/46

5,991,699

32,445,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

0.000 07/01/51

8,536,520

17,239,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

5.000 07/01/58

16,920,570

1,000,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.329 07/01/40

1,002,068

1,482,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.536 07/01/53

1,390,532

3,175,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.784 07/01/58

3,076,297

2,160,000

River

Islands

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

2003-1

Improvement

Area

1,

Refunding

Series

2022A-1

-

AGM

Insured

5.250 09/01/52

2,292,324

15,385,000

San

Diego

County

Regional

Transportation

Commission,

California,

Sales

Tax

Revenue

Bonds,

Limited

Tax

Series

2016A

5.000 04/01/48

15,423,932

325,000

San

Diego

Redevelopment

Agency,

California,

Subordinate

Lien

Tax

Increment

and

Parking

Revenue

Bonds,

Centre

City

Project,

Series

2003B

5.250 09/01/26

325,630

535,000

San

Francisco

City

and

County

Redevelopment

Agency

Successor

Agency,

California,

Special

Tax

Bonds,

Community

Facilities

District

7,

Hunters

Point

Shipyard

Phase

One

Improvements,

Refunding

Series

2014

5.000 08/01/39

537,760

10,000

Signal

Hill

Redevelopment

Agency,

California,

Project

Tax

Allocation

Bonds,

Series

2011

7.000 10/01/26

10,034

3,600,000

Stockton

Public

Financing

Authority,

California,

Revenue

Bonds,

Arch

Road

East

Community

Facility

District

99-02,

Series

2018A

5.000 09/01/33

3,712,779

2,145,000

(a) Temecula

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

16-01,

Series

2017

6.125 09/01/37

2,226,379

990,000

(a) Temecula

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

16-01,

Series

2017

6.250 09/01/47

1,014,009

600,000

Tracy,

California,

Special

Tax

Bonds,

Community

Facilities

District

2016-1

Tracy

Hills, Improvement

Area

2,

Series

2023

5.250 09/01/38

646,830

635,000

Transbay

Joint

Powers

Authority,

California,

Tax

Allocation

Bonds,

Senior

Green

Series

2020A

5.000 10/01/45

643,219

2,540,000

Transbay

Joint

Powers

Authority,

California,

Tax

Allocation

Bonds,

Senior

Green

Series

2020A

5.000 10/01/49

2,545,573

3,645,000

Virgin

Islands

Public

Finance

Authority,

Gross

Receipts

Taxes

Loan

Note,

Refunding

Series

2012A

-

AGM

Insured

5.000 10/01/32

3,656,719

350,000

West

Patterson

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

2015-1

Arambel-KDN,

Refunding

Series

2015

5.250 09/01/35

350,553

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NKX

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

790,000

West

Patterson

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

2015-1

Arambel-KDN,

Refunding

Series

2015

5.250 %

09/01/45

$

790,469

700,000

West

Sacramento,

California,

Special

Tax

Bonds,

Community

Facilities

District

Bridge

District,

Refunding

Series

2016

5.000 09/01/40

703,864

1,400,000

West

Sacramento,

California,

Special

Tax

Bonds,

Community

Facilities

District

Bridge

District,

Series

2017

5.000 09/01/47

1,406,688

TOTAL

TAX

OBLIGATION/LIMITED

115,615,891

TRANSPORTATION

-

14.5%

(9.0%

of

Total

Investments)

6,500,000

Bay

Area

Toll

Authority,

California,

Revenue

Bonds,

San

Francisco

Bay

Area

Toll

Bridge,

Subordinate

Fixed

Rate

Series

2017S-7

4.000 04/01/47

6,322,864

2,000,000

Foothill/Eastern

Transportation

Corridor

Agency,

California,

Toll

Road

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021A

4.000 01/15/46

1,964,454

4,000,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2019E

5.000 05/15/49

4,115,866

3,000,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Senior

Series

2023A

5.000 07/01/53

3,168,982

4,230,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Subordinate

Series

2021A

4.000 07/01/56

3,994,994

13,770,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Subordinate

Series

2021A

5.000 07/01/56

14,283,460

4,535,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Governmental

Purpose

Second

Series

2017B

5.000 05/01/47

4,600,511

44,650,000

(d) San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Governmental

Purpose

Second

Series

2017B,

(UB)

5.000 05/01/47

45,294,996

9,500,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2023D

5.250 05/01/48

10,352,451

2,025,000

San

Joaquin

Hills

Transportation

Corridor

Agency,

Orange

County,

California,

Refunding

Senior

Lien

Toll

Road

Revenue

Bonds,

Series

2021A

4.000 01/15/50

1,904,353

TOTAL

TRANSPORTATION

96,002,931

U.S.

GUARANTEED

-

1.0%

(e)(0.6%

of

Total

Investments)

2,040,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2016B,

(Pre-

refunded

11/15/26)

5.000 11/15/46

2,084,223

2,250,000

California

Infrastructure

and

Economic

Development

Bank,

First

Lien

Revenue

Bonds,

San

Francisco

Bay

Area

Toll

Bridge,

Series

2003A,

(Pre-refunded

1/01/28)

-

AMBAC

Insured

5.000 07/01/36

2,376,603

2,000,000

Chaffey

Community

College

District,

San

Bernardino

County,

California,

General

Obligation

Bonds,

Taxable

Refunding

Series

2019,

(Pre-refunded

6/01/28)

4.000 06/01/43

2,089,390

TOTAL

U.S.

GUARANTEED

6,550,216

UTILITIES

-

28.1%

(17.4%

of

Total

Investments)

30,055,000

(b) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2021B-1,

(Mandatory

Put

8/01/31)

4.000 02/01/52

31,241,767

7,000,000

(b) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2023E-1,

(Mandatory

Put

3/01/31)

5.000 02/01/54

7,574,456

6,575,000

(b) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2023F,

(Mandatory

Put

11/01/30)

5.500 10/01/54

7,229,285

5,250,000

(b) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2023G,

(Mandatory

Put

4/01/30)

5.250 11/01/54

5,664,201

7,460,000

(b) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2024B,

(Mandatory

Put

12/01/32)

5.000 01/01/55

7,888,479

See

Notes

to

Financial

Statements

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

2,000,000

California

Infrastructure

and

Economic

Development

Bank,

Clean

Water

and

Drinking

Water

State

Revolving

Fund

Revenue

Bonds,

Green

Series

2025

4.125 %

10/01/47

$

2,012,765

4,000,000

(a) California

Pollution

Control

Financing

Authority,

Water

Furnishing

Revenue

Bonds,

San

Diego

County

Water

Authority

Desalination

Project

Pipeline,

Refunding

Series

2019

5.000 07/01/39

4,147,683

5,635,000

(b) Central

Valley

Energy

Authority,

California,

Commodity

Supply

Revenue

Bonds,

Series

2025,

(Mandatory

Put

8/01/35)

5.000 12/01/55

6,258,884

6,190,000

East

Bay

Municipal

Utility

District,

Alameda

and

Contra

Costa

Counties,

California,

Water

System

Revenue

Bonds,

Green

Series

2019A

5.000 06/01/49

6,425,853

2,490,000

Long

Beach

Bond

Finance

Authority,

California,

Natural

Gas

Purchase

Revenue

Bonds,

Series

2007A

5.000 11/15/35

2,906,934

1,835,000

Long

Beach

Bond

Finance

Authority,

California,

Natural

Gas

Purchase

Revenue

Bonds,

Series

2007A

5.500 11/15/37

2,239,210

6,015,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2017C

5.000 07/01/47

6,082,059

8,340,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2019A

5.000 07/01/45

8,595,116

5,190,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2020B

5.000 07/01/50

5,334,818

3,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2022B

5.000 07/01/47

3,165,154

1,820,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2025A

-

BAM

Insured

5.000 07/01/53

1,911,097

8,250,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2020C

5.000 07/01/38

8,901,837

5,000,000

Los

Angeles,

California,

Wastewater

System

Revenue

Bonds,

Green

Subordinate

Series

2018A

5.000 06/01/43

5,196,751

1,000,000

New

York

State

Environmental

Facilities

Corporation,

State

Clean

Water

and

Drinking

Water

Revolving

Funds

Revenue

Bonds,

New

York

City

Municipal

Water

Finance

Authority

Projects-Second

Resolution

Bonds,

Subordinated

SRF

Series

2017A

5.000 06/15/46

1,014,536

8,660,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A

5.000 07/01/47

8,679,418

15,000,000

San

Francisco

City

and

County

Public

Utilities

Commission,

California,

Water

Revenue

Bonds,

Regional

Water

&

Local

Water,

Series

2025D

5.000 11/01/55

16,032,585

600,000

San

Joaquin

County,

California,

Revenue

Bonds,

CSA

County

Service

Area

31,

Refunding

Series

2018A

5.000 08/01/42

607,199

5,000,000

South

Coast

Water

District

Financing

Authority,

California,

Revenue

Bonds,

Series

2019A

5.000 02/01/44

5,229,993

15,000,000

(b) Southern

California

Public

Power

Authority,

California,

Revenue

Bonds,

Clean

Energy

Project

Revenue

Bonds,

Series

2024A,

(Mandatory

Put

9/01/30)

5.000 04/01/55

16,146,123

14,530,000

Southern

California

Public

Power

Authority,

Southern

Transmission

System

Renewal

Project

Revenue

Bonds,

Series

2023-1A

5.000 07/01/48

15,325,259

TOTAL

UTILITIES

185,811,462

TOTAL

MUNICIPAL

BONDS

(Cost

$1,041,000,688)

1,068,061,453

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$1,041,000,688)

1,068,061,453

FLOATING

RATE

OBLIGATIONS

-

(5.1)%

(33,485,000)

MFP

SHARES,

NET

-

(21.2)%

(f) (140,070,493)

VRDP

SHARES,

NET

-

(38.7)%

(g) (255,801,320)

OTHER

ASSETS

&

LIABILITIES,

NET

-

3.2%

21,438,961

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

-

100%

$

660,143,601

UB

Underlying

bond

of

an

inverse

floating

rate

trust

reflected

as

a

financing

transaction.

Inverse

floating

rate

trust

is

a

Recourse

Trust

unless

otherwise

noted.

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NKX

See

Notes

to

Financial

Statements

(a) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$129,296,835

or

12.1%

of

Total

Investments.

(b) Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable. For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(c) Step-up

coupon

bond,

a

bond

with

a

coupon

that

increases

("steps

up"),

usually

at

regular

intervals,

while

the

bond

is

outstanding.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

fiscal

period.

(d) Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

inverse

floating

rate

transactions.

(e) Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(f) MFP

Shares,

Net

as

a

percentage

of

Total

Investments

is

13.1%.

(g) VRDP

Shares,

Net

as

a

percentage

of

Total

Investments

is

24.0%.

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026

#### NCA
See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

99.0%

X

303,661,108

MUNICIPAL

BONDS

-

98.2%

X

–

CONSUMER

STAPLES

-

0.6%

$

70,000

California

County

Tobacco

Securitization

Agency,

Tobacco

Settlement

Asset-Backed

Bonds,

Los

Angeles

County

Securitization

Corporation,

Series

2020A

4.000 %

06/01/49

$

62,428

4,895,000

Silicon

Valley

Tobacco

Securitization

Authority,

California,

Tobacco

Settlement

Asset-Backed

Bonds,

Santa

Clara

County

Tobacco

Securitization

Corporation,

Series

2007A

0.000 06/01/41

1,864,975

TOTAL

CONSUMER

STAPLES

1,927,403

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

3.2%

2,000,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

Los

Angeles

County

Museum

of

Natural

History

Foundation,

Series

2020

4.000 07/01/50

1,915,565

1,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Linxs

APM

Project,

Senior

Lien

Series

2018A,

(AMT)

5.000 12/31/43

1,016,848

335,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Arts

in

Action

Charter

Schools

-

Obligated

Group,

Series

2020A

5.000 06/01/59

277,411

125,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Lifeline

Education

Charter

School

Project,

Series

2020A

5.000 07/01/55

119,397

220,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2016A

5.000 07/01/46

220,016

1,425,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2016C

5.250 07/01/52

1,425,628

3,780,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2017A

5.000 11/01/47

3,834,604

1,070,000

University

of

California,

General

Revenue

Bonds,

Series

2018AZ

5.000 05/15/38

1,124,213

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

9,933,682

HEALTH

CARE

-

11.3%

4,105,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2016B

5.000 11/15/46

4,144,042

1,000,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Series

2018A

5.000 11/15/36

1,038,922

2,045,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

City

of

Hope

National

Medical

Center,

Series

2019

4.000 11/15/45

1,919,978

1,815,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A

4.000 04/01/44

1,780,441

3,700,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A

4.000 04/01/49

3,440,308

445,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2024A

5.000 12/01/54

463,351

240,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Refunding

Series

2014A

5.000 10/01/38

240,345

840,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Series

2014B

5.000 10/01/44

840,661

3,245,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

Adventist

Health

Energy

Projects,

Series

2024A

5.250 07/01/49

3,335,099

1,600,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Community

Health

System,

Series

2021A

-

AGM

Insured

4.000 02/01/51

1,445,761

2,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Community

Medical

Centers,

Series

2017A

5.000 02/01/47

2,007,727

2,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Eisenhower

Medical

Center,

Refunding

Series

2017A

4.000 07/01/47

1,786,317

120,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Eisenhower

Medical

Center,

Refunding

Series

2017A

5.000 07/01/47

120,350

100,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

5.250 11/01/41

100,431

1,090,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

5.000 11/01/47

1,056,850

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NCA

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

400,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

5.250 %

11/01/47

$

400,136

520,000

California

Municipal

Financing

Authority,

Certificates

of

Participation,

Palomar

Health,

Series

2022A

5.250 11/01/52

530,519

1,000,000

California

Statewide

Communities

Development

Authority,

California,

Redlands

Community

Hospital,

Revenue

Bonds,

Series

2016

5.000 10/01/46

1,006,407

150,000

California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2014A

5.250 12/01/34

150,197

5,800,000

(a) California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2016A

5.250 12/01/56

5,803,168

1,000,000

(a) California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2018A

5.500 12/01/58

1,018,278

245,000

California

Statewide

Community

Development

Authority,

Health

Revenue

Bonds,

Enloe

Medical

Center,

Refunding

Series

2022A

-

AGM

Insured

5.250 08/15/52

251,194

2,000,000

University

of

California

Regents,

Medical

Center

Pooled

Revenue

Bonds,

Series

2022P

5.000 05/15/47

2,127,612

TOTAL

HEALTH

CARE

35,008,094

HOUSING/MULTIFAMILY

-

9.9%

1,445,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Creekwood,

Series

2021A

4.000 02/01/56

949,161

2,190,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Glendale

Properties,

Junior

Series

2021A-2

4.000 08/01/47

1,768,643

1,650,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Serenity

at

Larkspur

Apartments,

Series

2020A

5.000 02/01/50

1,262,250

1,285,000

(a) California

Community

Housing

Agency,

Workforce

Housing

Revenue

Bonds,

Annadel

Apartments,

Series

2019A

5.000 04/01/49

1,043,012

1,972,410

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2019-2

4.000 03/20/33

2,054,584

1,762,596

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2021-1

3.500 11/20/35

1,804,523

286,950

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series2019-1

4.250 01/15/35

302,660

1,742,605

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Social

Certificates

Series

2023-1

4.375 09/20/36

1,853,734

1,506,036

(b) California

Municipal

Finance

Agency,

Municipal

Certificates,

Series

2025-2

Class

4.217 11/20/40

1,530,772

2,320,000

(a) CMFA

Special

Finance

Agency

I,

California,

Essential

Housing

Revenue

Bonds,

The

Mix

at

Center

City,

Series

2021A-2

4.000 04/01/56

1,822,126

800,000

(a) CMFA

Special

Finance

Agency,

California,

Essential

Housing

Revenue

Bonds,

Enclave

Apartments,

Senior

Series

2022A-1

4.000 08/01/58

620,318

125,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

777

Place-Pomona,

Senior

Lien

Series

2021A-1

3.600 05/01/47

106,558

1,130,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

777

Place-Pomona,

Senior

Lien

Series

2021A-2

3.250 05/01/57

795,745

1,465,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Acacia

on

Santa

Rosa

Creek,

Senior

Lien

Series

2021A

4.000 10/01/56

1,232,531

2,005,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Altana

Glendale,

Series

2021A-2

4.000 10/01/56

1,670,457

2,820,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Center

City

Anaheim,

Series

2020A

5.000 01/01/54

2,516,158

2,120,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Moda

at

Monrovia

Station,

Social

Series

2021A-2

4.000 10/01/56

1,659,450

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

220,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Monterrey

Station

Apartments,

Senior

Lien

Series

2021A-1

3.000 %

07/01/43

$

182,252

950,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Monterrey

Station

Apartments,

Senior

Lien

Series

2021A-1

3.125 07/01/56

633,406

405,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Oceanaire-Long

Beach,

Social

Series

2021A-2

4.000 09/01/56

296,695

860,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Parallel-Anaheim

Series

2021A

4.000 08/01/56

790,370

530,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Pasadena

Portfolio

Social

Bond,

Mezzanine

Senior

Series

2021B

4.000 12/01/56

404,318

555,000

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Pasadena

Portfolio

Social

Bond,

Series

2021A-2

3.000 12/01/56

393,133

795,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Union

South

Bay,

Series

2021A-2

4.000 07/01/56

668,187

560,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Westgate

Phase

1-Pasadena

Apartments,

Senior

Lien

Series

2021A-1

3.000 06/01/47

406,471

2,035,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Westgate

Phase

1-Pasadena

Apartments,

Senior

Lien

Series

2021A-2

3.125 06/01/57

1,255,521

2,080,000

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Wood

Creek

Apartments,

Senior

Lien

Series

2021A-1

3.000 12/01/49

1,504,380

435,000

Los

Angeles

Housing

Authority,

California,

Multifamily

Housing

Revenue

Bonds,

Clarendon

Apartments,

Senior

Series

2024A

4.400 12/01/54

410,101

755,000

Los

Angeles

Housing

Authority,

California,

Multifamily

Housing

Revenue

Bonds,

Clarendon

Apartments,

Senior

Series

2024A

4.500 12/01/59

720,860

TOTAL

HOUSING/MULTIFAMILY

30,658,376

TAX

OBLIGATION/GENERAL

-

24.5%

4,000,000

Anaheim

Union

High

School

District,

Orange

County,

California,

General

Obligation

Bonds,

2014

Election

Series

2019

-

BAM

Insured

3.000 08/01/40

3,786,508

10,000,000

Berkeley

Unified

School

District,

Alameda

County,

California,

General

Obligation

Bonds,

Election

of

2020

Series

2024D

4.000 08/01/54

9,694,161

375,000

Butte-Glenn

Community

College

District,

Butte

and

Glenn

Counties,

California,

General

Obligation

Bonds,

Election

2016

Series

2017A

5.250 08/01/46

383,070

5,000

California

State,

General

Obligation

Bonds,

Series

2013

5.000 02/01/29

5,012

130,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2015

5.000 08/01/34

130,276

2,000,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2018. Bid

Group

A/B

5.000 10/01/48

2,058,590

5,000,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2023

5.000 09/01/26

5,074,760

1,000,000

Chaffey

Joint

Union

High

School

District,

San

Bernardino

County,

California,

General

Obligation

Bonds,

Election

2012

Series

2017C

5.250 08/01/47

1,013,627

5,000,000

Chino

Valley

Unified

School

District,

San

Bernardino

County,

California,

General

Obligation

Bonds,

2016

Election

Series

2020B

5.000 08/01/55

5,186,330

4,200,000

Corona-Norco

Unified

School

District,

Riverside

County,

California,

General

Obligation

Bonds,

Election

2014,

Series

2019C

4.000 08/01/49

4,045,806

2,000,000

Desert

Community

College

District,

Riverside

County,

California,

General

Obligation

Bonds,

Election

of

2016

Series

2024

4.000 08/01/51

1,949,973

2,000,000

Franklin-McKinley

School

District,

Santa

Clara

County,

California,

General

Obligation

Bonds,

Election

of

2020,

Series

2023B

4.250 08/01/49

1,997,331

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NCA

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

690,000

Los

Angeles

Community

College

District,

California,

General

Obligation

Bonds,

2008

Election

Series

2017J

4.000 %

08/01/41

$

694,667

2,000,000

Marin

Healthcare

District,

Marin

County,

California,

General

Obligation

Bonds,

2013

Election,

Series

2015A

4.000 08/01/40

2,000,490

519,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

4.000 07/01/41

503,728

5,000,000

San

Diego

Community

College

District,

San

Diego

County,

California,

General

Obligation

Bonds,

Election

of

2024,

Series

2025A-1

4.000 08/01/50

4,888,319

11,875,000

(c) San

Mateo

Union

High

School

District,

San

Mateo

County,

California,

General

Obligation

Bonds,

Election

2010

Series

2011A

0.000 09/01/41

13,321,824

19,860,000

(c) Yosemite

Community

College

District,

California,

General

Obligation

Bonds,

Capital

Appreciation,

Election

2004,

Series

2010D

0.000 08/01/42

18,981,924

TOTAL

TAX

OBLIGATION/GENERAL

75,716,396

TAX

OBLIGATION/LIMITED

-

8.9%

70,000

Brentwood

Infrastructure

Financing

Authority,

California,

Infrastructure

Revenue

Bonds,

Refunding

Subordinated

Series

2014B

5.000 09/02/36

70,046

1,000,000

California

Infrastructure

and

Economic

Development

Bank,

Lease

Revenue

Bonds,

California

State

Teachers

Retirement

System

Headquarters

Expansion,

Green

Bond-Climate

Bond

Certified

Series

2019

5.000 08/01/44

1,053,357

165,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2016B

5.000 09/02/46

165,451

400,000

Corona,

California,

Special

Tax

Bonds,

Community

Facilities

District

2018-1

Bedford,

Series

2018A

5.000 09/01/48

402,541

1,000,000

Los

Angeles

County

Facilities

Inc,

California,

Lease

Revenue

Bonds,

Vermont

Corridor

County

Administration

Building,

Series

2018A

5.000 12/01/51

1,024,136

4,000,000

Los

Angeles

County

Metropolitan

Transportation

Authority,

California,

Measure

R

Sales

Tax

Revenue

Bonds,

Senior

Series

2016A

5.000 06/01/39

4,021,600

2,300,000

Los

Angeles

County

Metropolitan

Transportation

Authority,

California,

Proposition

C

Sales

Tax

Revenue

Bonds,

Senior

Lien

Series

2017A

5.000 07/01/42

2,361,135

4,923,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

5.000 07/01/58

4,832,065

29,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.329 07/01/40

29,060

2,095,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.784 07/01/58

2,029,871

625,000

River

Islands

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

2003-1

Improvement

Area

1,

Refunding

Series

2022A-1

-

AGM

Insured

5.250 09/01/52

663,288

135,000

San

Francisco

City

and

County

Redevelopment

Agency

Successor

Agency,

California,

Special

Tax

Bonds,

Community

Facilities

District

7,

Hunters

Point

Shipyard

Phase

One

Improvements,

Refunding

Series

2014

5.000 08/01/39

135,696

5,000,000

San

Francisco

City

and

County

Redevelopment

Agency

Successor

Agency,

California,

Tax

Allocation

Bonds,

Mission

Bay

North

Redevelopment

Project,

Refunding

Series

2016A

-

NPFG

Insured

5.000 08/01/41

5,035,820

30,000

Signal

Hill

Redevelopment

Agency,

California,

Project

Tax

Allocation

Bonds,

Series

2011

7.000 10/01/26

30,101

1,000,000

Stockton

Public

Financing

Authority,

California,

Revenue

Bonds,

Arch

Road

East

Community

Facility

District

99-02,

Series

2018A

5.000 09/01/33

1,031,328

765,000

Stockton

Public

Financing

Authority,

California,

Revenue

Bonds,

Arch

Road

East

Community

Facility

District

99-02,

Series

2018A

5.000 09/01/43

779,007

1,335,000

Sulphur

Springs

Union

School

District,

California,

Special

Tax

Bonds,

Community

Facilities

District

2006-1,

Series

2018

5.000 09/01/43

1,352,668

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

195,000

(a) Temecula

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

16-01,

Series

2017

5.750 %

09/01/32

$

203,135

2,185,000

Transbay

Joint

Powers

Authority,

California,

Tax

Allocation

Bonds,

Senior

Green

Series

2020A

5.000 10/01/45

2,213,282

TOTAL

TAX

OBLIGATION/LIMITED

27,433,587

TRANSPORTATION

-

18.1%

1,000,000

Burbank-Glendale-Pasadena

Airport

Authority,

California,

Airport

Revenue

Bonds,

Senior

Series

2024B

-

AGM

Insured,

(AMT)

4.375 07/01/49

980,750

225,000

California

Municipal

Finance

Authority,

Special

Facility

Revenue

Bonds,

United

Airlines,

Inc.

Los

Angeles

International

Airport

Project,

Series

2019,

(AMT)

4.000 07/15/29

229,456

10,415,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2018C,

(AMT)

5.000 05/15/44

10,589,435

2,670,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2019D,

(AMT)

5.000 05/15/33

2,838,367

1,480,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2022A,

(AMT)

5.000 05/15/45

1,554,939

2,345,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

International

Senior

Series

2023B,

(AMT)

5.250 07/01/58

2,440,191

3,075,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Subordinate

Series

2021A

4.000 07/01/51

2,956,219

3,740,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Governmental

Purpose

Second

Series

2016C

5.000 05/01/46

3,748,027

16,295,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Governmental

Purpose

Second

Series

2017B

5.000 05/01/47

16,530,391

4,200,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2023C,

(AMT)

5.500 05/01/40

4,784,992

4,160,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2018D,

(AMT)

5.000 05/01/43

4,269,544

1,035,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2025A,

(AMT)

5.250 05/01/55

1,092,049

2,885,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2025A,

(AMT)

5.500 05/01/55

3,106,646

665,000

San

Joaquin

Hills

Transportation

Corridor

Agency,

Orange

County,

California,

Refunding

Senior

Lien

Toll

Road

Revenue

Bonds,

Series

2021A

4.000 01/15/50

625,380

100,000

San

Joaquin

Hills

Transportation

Corridor

Agency,

Orange

County,

California,

Toll

Road

Revenue

Bonds,

Refunding

Junior

Lien

Series

2014B

5.250 01/15/44

100,074

TOTAL

TRANSPORTATION

55,846,460

U.S.

GUARANTEED

-

1.3%

(d) 795,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2016B,

(Pre-

refunded

11/15/26)

5.000 11/15/46

812,234

130,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A,

(Pre-refunded

4/01/30)

4.000 04/01/49

140,670

3,000,000

Chaffey

Community

College

District,

San

Bernardino

County,

California,

General

Obligation

Bonds,

Taxable

Refunding

Series

2019,

(Pre-refunded

6/01/28)

4.000 06/01/43

3,134,085

TOTAL

U.S.

GUARANTEED

4,086,989

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NCA

See

Notes

to

Financial

Statements

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

-

20.4%

$

1,375,000

(a) California

Pollution

Control

Financing

Authority,

Water

Furnishing

Revenue

Bonds,

Poseidon

Resources

Channelside

LP

Desalination

Project,

Series

2012,

(AMT)

5.000 %

07/01/37

$

1,380,256

3,750,000

(a) California

Pollution

Control

Financing

Authority,

Water

Furnishing

Revenue

Bonds,

Poseidon

Resources

Channelside

LP

Desalination

Project,

Series

2012,

(AMT)

5.000 11/21/45

3,754,858

1,500,000

(a) California

Pollution

Control

Financing

Authority,

Water

Furnishing

Revenue

Bonds,

San

Diego

County

Water

Authority

Desalination

Project

Pipeline,

Refunding

Series

2019

5.000 07/01/39

1,555,381

2,815,000

(b) Central

Valley

Energy

Authority,

California,

Commodity

Supply

Revenue

Bonds,

Series

2025,

(Mandatory

Put

8/01/35)

5.000 12/01/55

3,126,665

1,800,000

Long

Beach

Bond

Finance

Authority,

California,

Natural

Gas

Purchase

Revenue

Bonds,

Series

2007A

5.500 11/15/37

2,196,500

2,425,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2018D

5.000 07/01/48

2,469,866

3,395,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2020B

5.000 07/01/45

3,549,597

3,795,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2022A

5.000 07/01/51

3,916,442

560,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2025A

-

BAM

Insured

5.000 07/01/53

588,030

10,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2025C

5.000 07/01/51

10,516,907

4,150,000

Los

Angeles

Department

of

Water

and

Power,

California,

Water

System

Revenue

Bonds,

Series

2022B

5.000 07/01/47

4,362,415

1,500,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2018B

5.000 07/01/38

1,562,577

2,500,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2020C

5.000 07/01/36

2,723,430

6,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2020C

5.000 07/01/38

6,474,064

3,000,000

M-S-R

Energy

Authority,

California,

Gas

Revenue

Bonds,

Citigroup

Prepay

Contracts,

Series

2009C

6.500 11/01/39

3,758,087

2,000,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A

5.000 07/01/47

2,004,485

5,775,000

Riverside,

California,

Sewer

Revenue

Bonds,

Refunding

Series

2018A

5.000 08/01/39

6,082,109

3,000,000

San

Diego

Public

Facilities

Financing

Authority,

California,

Water

Utility

Revenue

Bonds,

Refunding

Subordinate

Lien

Series

2016B

5.000 08/01/37

3,028,452

TOTAL

UTILITIES

63,050,121

TOTAL

MUNICIPAL

BONDS

(Cost

$296,421,460)

303,661,108

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

X

2,500,000

VARIABLE

RATE

DEMAND

PREFERRED

SHARES

-

0.8%

X

–

$

2,500,000

(e) BlackRock

MuniHoldings

California

Quality

Fund

Inc,

Series

W-7,

LIQ:

Barclays

Bank

PLC

2.500 09/01/54

$

2,500,000

TOTAL

VARIABLE

RATE

DEMAND

PREFERRED

SHARES

(Cost

$2,500,000)

2,500,000

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$298,921,460)

306,161,108

OTHER

ASSETS

&

LIABILITIES,

NET

-

1.0%

2,991,285

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

-

100%

$

309,152,393

AMT

Alternative

Minimum

Tax

LIQ

Liquidity

Agreement

See

Notes

to

Financial

Statements

(a) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$37,845,642

or

12.4%

of

Total

Investments.

(b) Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable. For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(c) Step-up

coupon

bond,

a

bond

with

a

coupon

that

increases

("steps

up"),

usually

at

regular

intervals,

while

the

bond

is

outstanding.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

fiscal

period.

(d) Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(e) Variable

Rate

Demand

Preferred

Shares

of

a

closed-end

investment

company

which

has

a

weekly

demand

feature.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

reporting

period.

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026

#### NAC
See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

161.9% (98.9%

of

Total

Investments)

X

3,022,049,630

MUNICIPAL

BONDS

-

161.9% (98.9%

of

Total

Investments)

X

–

CONSUMER

STAPLES

-

0.7%

(0.4%

of

Total

Investments)

$

1,000,000

California

County

Tobacco

Securitization

Agency,

Tobacco

Settlement

Asset-Backed

Bonds,

Golden

Gate

Tobacco

Funding

Corporation,

Turbo,

Series

2007A

5.000 %

06/01/47

$

958,253

2,575,000

California

County

Tobacco

Securitization

Agency,

Tobacco

Settlement

Asset-Backed

Bonds,

Los

Angeles

County

Securitization

Corporation,

Series

2020A

4.000 06/01/49

2,296,450

520,000

California

County

Tobacco

Securitization

Agency,

Tobacco

Settlement

Asset-Backed

Bonds,

Los

Angeles

County

Securitization

Corporation,

Series

2020B-1

5.000 06/01/49

520,928

34,035,000

Golden

State

Tobacco

Securitization

Corporation,

California,

Tobacco

Settlement

Asset-Backed

Bonds,

Capital

Appreciation

Series

2021B-2

0.000 06/01/66

3,642,892

19,000,000

Silicon

Valley

Tobacco

Securitization

Authority,

California,

Tobacco

Settlement

Asset-Backed

Bonds,

Santa

Clara

County

Tobacco

Securitization

Corporation,

Series

2007B

0.000 06/01/47

4,741,182

TOTAL

CONSUMER

STAPLES

12,159,705

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

11.8%

(7.2%

of

Total

Investments)

6,995,000

California

Educational

Facilities

Authority,

Revenue

Bonds,

Chapman

University,

Series

2017B

4.000 04/01/47

6,756,834

5,725,000

California

Educational

Facilities

Authority,

Revenue

Bonds,

Stanford

University

Series

2016U-7

5.000 06/01/46

6,768,063

4,385,000

California

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

the

Pacific,

Series

2023

5.000 11/01/53

4,594,556

650,000

(a) California

Enterprise

Development

Authority,

Charter

School

Revenue

Bonds,

Academy

for

Academic

Excellence

Project,

Series

2020A

5.000 07/01/55

609,856

1,500,000

(a) California

Enterprise

Development

Authority,

Charter

School

Revenue

Bonds,

Norton

Science

&

Language

Academy

Project,

Series

2021

4.000 07/01/61

1,124,773

9,560,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

UCSF

Clinical

and

Life

Sciences

Building,

Series

2025

4.500 05/15/55

9,632,433

27,000,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

UCSF

Clinical

and

Life

Sciences

Building,

Series

2025

5.250 05/15/59

29,142,669

1,350,000

(a) California

Municipal

Finance

Authority

Charter

School

Revenue

Bonds,

River

Charter

Schools

Project,

Series

2018A

5.500 06/01/53

1,297,408

800,000

(a) California

Municipal

Finance

Authority, Revenue

Bonds,

Creative

Center

of

Los

Altos

Project

Pinewood

&

Oakwood

Schools,

Series

2016B

4.000 11/01/36

800,839

1,000,000

(a) California

Municipal

Finance

Authority, Revenue

Bonds,

Creative

Center

of

Los

Altos

Project

Pinewood

&

Oakwood

Schools,

Series

2016B

4.500 11/01/46

951,387

8,395,000

California

Municipal

Finance

Authority,

Academic

Facilities

Revenue

Bonds,

Scripps

College

Series

2025

5.500 07/01/60

9,067,874

1,210,000

(a) California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

John

Adams

Academies,

Inc.

-

Lincoln

Project,

Taxable

Series

2019B

5.000 10/01/39

1,216,898

2,980,000

(a) California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

John

Adams

Academies,

Inc.

-

Lincoln

Project,

Taxable

Series

2019B

5.000 10/01/57

2,683,740

1,000,000

(a) California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

Palmdale

Aerospace

Academy

Project,

Series

2016A

5.000 07/01/46

969,626

3,820,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Linxs

APM

Project,

Senior

Lien

Series

2018A,

(AMT)

5.000 12/31/43

3,884,358

1,650,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Linxs

APM

Project,

Senior

Lien

Series

2018A,

(AMT)

4.000 12/31/47

1,485,834

4,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Linxs

APM

Project,

Senior

Lien

Series

2018A,

(AMT)

5.000 12/31/47

4,021,894

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

1,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

The

Master's

University

&

Seminary,

Series

2019

5.000 %

08/01/48

$

979,335

3,250,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Arts

in

Action

Charter

Schools

-

Obligated

Group,

Series

2020A

5.000 06/01/59

2,691,298

750,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Aspire

Public

School

-

Obligated

Group,Issue

No.6,

Series

2020A

5.000 08/01/42

756,578

1,550,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Camino

Nuevo

Charter

Academy

Sustainability

Series

2023A

5.250 06/01/53

1,551,162

175,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Kepler

Neighborhood

School,

Series

2017A

5.000 05/01/27

176,063

1,215,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Lifeline

Education

Charter

School

Project,

Series

2020A

5.000 07/01/55

1,160,540

1,320,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Social

Bonds

iLead

Lancaster

Project,

Series

2021A

5.000 06/01/61

1,144,370

1,100,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Stem

Preparatory

Schools

Obligated

Group,

Series

2023A

5.375 05/01/63

1,100,623

1,615,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2015A

5.000 07/01/45

1,615,268

2,150,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2016A

5.000 07/01/46

2,150,161

7,995,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2016C

5.000 07/01/46

7,999,100

8,340,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2016C

5.250 07/01/52

8,343,674

1,500,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Granada

Hills

Charter

High

School

Obligated

Group,

Series

2019

5.000 07/01/43

1,501,321

800,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Value

Schools,

Series

2016A

6.000 07/01/51

802,416

90,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2015A

5.000 11/01/43

90,116

10,440,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2018A

5.000 11/01/43

10,934,899

1,965,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2018A

5.000 11/01/48

2,022,786

2,935,000

University

of

California,

General

Revenue

Bonds,

Limited

Project

Series

2017M

5.000 05/15/52

2,976,229

8,500,000

University

of

California,

General

Revenue

Bonds,

Limited

Project

Series

2018O

5.000 05/15/43

8,855,740

10,390,000

University

of

California,

General

Revenue

Bonds,

Limited

Project

Series

2018O

4.000 05/15/48

10,111,483

3,930,000

University

of

California,

General

Revenue

Bonds,

Series

2018AZ

5.000 05/15/38

4,129,117

19,025,000

University

of

California,

General

Revenue

Bonds,

Series

2018AZ

5.000 05/15/48

19,572,528

12,810,000

University

of

California,

General

Revenue

Bonds,

Series

2020BE

4.000 05/15/47

12,780,622

10,000,000

University

of

California,

General

Revenue

Bonds,

Series

2024BW

5.000 05/15/54

10,596,062

18,240,000

(b) University

of

California,

General

Revenue

Bonds,

Series

2025CF

5.250 11/15/41

21,668,443

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

220,718,976

FINANCIALS

-

0.0%

(0.0%

of

Total

Investments)

1,261,006

(c) Cofina

Class

Trust

Tax-Exempt

Class

2054,

Puerto

Rico.

0.000 08/01/54

275,120

TOTAL

FINANCIALS

275,120

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAC

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

-

27.6%

(16.9%

of

Total

Investments)

$

6,365,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2016B

4.000 %

11/15/41

$

6,373,008

19,795,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2016B

5.000 11/15/46

19,983,266

20,215,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2017A

4.000 11/15/48

18,562,921

13,110,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2017A

5.000 11/15/48

13,261,116

5,890,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Series

2018A

5.000 11/15/38

6,099,454

7,960,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Adventist

Health

System/West,

Refunding

Series

2016A

4.000 03/01/39

7,959,832

7,870,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Adventist

Health

System/West,

Series

2013A

4.000 03/01/43

7,505,303

15,000,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Cedars-Sinai

Medical

Center,

Refunding

Series

2016B

4.000 08/15/39

15,023,154

7,400,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Children's

Hospital

Los

Angeles,

Series

2017A

5.000 08/15/47

7,355,667

1,030,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Children's

Hospital

of

Orange

County,

Series

2024A

5.000 11/01/54

1,090,492

16,625,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

City

of

Hope

National

Medical

Center,

Series

2019

4.000 11/15/45

15,608,621

30,630,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

City

of

Hope

National

Medical

Center,

Series

2019

5.000 11/15/49

30,740,041

31,810,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A

4.000 04/01/44

31,204,312

8,475,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A

4.000 04/01/45

8,159,012

2,720,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A

4.000 04/01/49

2,529,091

4,430,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2024A

5.000 12/01/54

4,612,691

24,625,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Lucile

Salter

Packard

Children's

Hospital

at

Stanford,

Refunding

Forward

Delivery

Series

2022A

4.000 05/15/51

23,260,307

2,230,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Refunding

Series

2014A

5.000 10/01/38

2,233,204

16,375,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Series

2014B

5.000 10/01/44

16,387,881

23,330,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Saint

Joseph

Health,

Refunding

Series

2016A

-

BAM

Insured

4.000 10/01/47

21,785,125

17,635,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

Adventist

Health

Energy

Projects,

Series

2024A

5.250 07/01/49

18,124,643

21,020,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

Adventist

Health

Energy

Projects,

Series

2024A

5.250 07/01/54

21,436,526

16,185,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Community

Health

System,

Series

2021A

-

AGM

Insured

4.000 02/01/51

14,624,772

3,095,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Eisenhower

Medical

Center,

Refunding

Series

2017A

5.000 07/01/42

3,129,734

685,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Eisenhower

Medical

Center,

Refunding

Series

2017A

5.000 07/01/47

686,999

11,830,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

5.250 11/01/36

11,918,657

1,420,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

5.250 11/01/41

1,426,118

9,335,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

5.000 11/01/47

9,051,101

6,770,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

5.250 11/01/47

6,772,298

5,330,000

California

Municipal

Financing

Authority,

Certificates

of

Participation,

Palomar

Health,

Series

2022A

5.250 11/01/52

5,437,822

12,485,000

California

Public

Finance

Authority,

Revenue

Bonds,

Henry

Mayo

Newhall

Hospital,

Series

2017

5.000 10/15/47

12,494,417

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

14,550,000

California

Public

Finance

Authority,

Revenue

Bonds,

Hoag

Memorial

Hospital

Presbyterian,

Fixed

Period

Series

2022A

4.000 %

07/15/51

$

13,919,505

5,310,000

California

Statewide

Communities

Development

Authority,

California,

Redlands

Community

Hospital,

Revenue

Bonds,

Series

2016

5.000 10/01/46

5,344,020

1,000,000

California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2014A

5.250 12/01/34

1,001,312

1,200,000

California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2014A

5.250 12/01/44

1,201,601

2,375,000

California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2014A

5.500 12/01/54

2,378,308

13,235,000

(a) California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2016A

5.250 12/01/56

13,242,230

46,490,000

(a) California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2018A

5.500 12/01/58

47,339,730

2,345,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Adventist

Health

System/West,

Series

2015A

5.000 03/01/35

2,347,160

5,000,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Adventist

Health

System/West,

Series

2018A

5.000 03/01/42

5,105,496

3,760,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Adventist

Health

System/West,

Series

2018A

5.000 03/01/48

3,791,472

6,465,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

John

Muir

Health,

Series

2016A

4.000 08/15/51

5,878,314

4,000,000

California

Statewide

Community

Development

Authority,

Certificates

of

Participation,

Methodist

Hospital

of

Southern

California,

Series

2018

5.000 01/01/48

4,065,205

2,475,000

California

Statewide

Community

Development

Authority,

Health

Revenue

Bonds,

Enloe

Medical

Center,

Refunding

Series

2022A

-

AGM

Insured

5.250 08/15/52

2,537,577

2,685,000

Madera

County,

California,

Certificates

of

Participation,

Valley

Children's

Hospital

Project,

Series

1995

-

NPFG

Insured

5.750 03/15/28

2,774,289

21,355,000

Palomar

Pomerado

Health

System,

California,

Revenue

Bonds,

Refunding

Series

2016

5.000 11/01/36

21,370,777

4,500,000

Palomar

Pomerado

Health

System,

California,

Revenue

Bonds,

Refunding

Series

2016

4.000 11/01/39

3,822,040

9,000,000

University

of

California

Regents,

Medical

Center

Pooled

Revenue

Bonds,

Series

2022P

5.000 05/15/47

9,574,254

4,410,000

University

of

California

Regents,

Medical

Center

Pooled

Revenue

Bonds,

Series

2022P

4.000 05/15/53

4,161,977

755,000

Washington

Township

Health

Care

District,

California,

Revenue

Bonds,

Series

2023A

5.750 07/01/53

791,149

TOTAL

HEALTH

CARE

515,484,001

HOUSING/MULTIFAMILY

-

18.6%

(11.4%

of

Total

Investments)

11,535,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Creekwood,

Series

2021A

4.000 02/01/56

7,576,869

22,070,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Glendale

Properties,

Junior

Series

2021A-2

4.000 08/01/47

17,823,725

35,110,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Serenity

at

Larkspur

Apartments,

Series

2020A

5.000 02/01/50

26,859,150

660,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Summit

at

Sausalito

Apartments,

Series

2021A-2

4.000 02/01/50

498,804

2,020,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

The

Arbors,

Series

2020A

5.000 08/01/50

1,937,335

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAC

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

1,385,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Verdant

at

Green

Valley

Apartments,

Series

2019A

5.000 %

08/01/49

$

1,303,244

9,320,000

(a) California

Community

Housing

Agency,

Workforce

Housing

Revenue

Bonds,

Annadel

Apartments,

Series

2019A

5.000 04/01/49

7,564,877

20,331,971

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2019-2

4.000 03/20/33

21,179,041

13,034,902

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2021-1

3.500 11/20/35

13,344,964

4,876,905

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2021-3

3.250 08/20/36

4,866,560

2,960,993

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series2019-1

4.250 01/15/35

3,123,099

17,362,769

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Social

Certificates

Series

2023-1

4.375 09/20/36

18,470,026

14,347,241

(d) California

Municipal

Finance

Agency,

Municipal

Certificates,

Series

2025-2

Class

4.217 11/20/40

14,582,885

1,500,000

California

Municipal

Finance

Agency,

Municipal

Certificates,

Series

2026-1

Class

4.050 07/20/41

1,518,489

1,465,000

(a) California

Public

Finance

Authority,

University

Housing

Revenue

Bonds,

National

Campus

Community

Development

-

Claremont

Properties

LLC

Claremont

Colleges

Project,

Refunding

Series

2023A

5.500 07/01/50

1,543,088

1,000,000

(a) California

Public

Finance

Authority,

University

Housing

Revenue

Bonds,

National

Campus

Community

Development

-

Claremont

Properties

LLC

Claremont

Colleges

Project,

Refunding

Series

2023A

6.000 07/01/53

1,094,399

23,750,000

(a) CMFA

Special

Finance

Agency

I,

California,

Essential

Housing

Revenue

Bonds,

The

Mix

at

Center

City,

Series

2021A-2

4.000 04/01/56

18,653,233

8,060,000

(a) CMFA

Special

Finance

Agency,

California,

Essential

Housing

Revenue

Bonds,

Enclave

Apartments,

Senior

Series

2022A-1

4.000 08/01/58

6,249,706

3,265,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

777

Place-Pomona,

Senior

Lien

Series

2021A-1

3.600 05/01/47

2,783,307

11,510,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

777

Place-Pomona,

Senior

Lien

Series

2021A-2

3.250 05/01/57

8,105,334

12,910,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Acacia

on

Santa

Rosa

Creek,

Senior

Lien

Series

2021A

4.000 10/01/56

10,861,417

7,425,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Altana

Glendale,

Series

2021A-1

3.500 10/01/46

6,509,973

20,500,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Altana

Glendale,

Series

2021A-2

4.000 10/01/56

17,079,489

26,165,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Center

City

Anaheim,

Series

2020A

5.000 01/01/54

23,345,842

4,450,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Jefferson-Anaheim

Series

2021A-1

2.875 08/01/41

4,311,701

7,030,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Jefferson-Anaheim

Series

2021A-2

3.125 08/01/56

5,397,626

3,565,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Moda

at

Monrovia

Station,

Social

Series

2021A-1

3.400 10/01/46

2,917,794

23,660,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Moda

at

Monrovia

Station,

Social

Series

2021A-2

4.000 10/01/56

18,520,087

2,215,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Monterrey

Station

Apartments,

Senior

Lien

Series

2021A-1

3.000 07/01/43

1,834,946

9,645,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Monterrey

Station

Apartments,

Senior

Lien

Series

2021A-1

3.125 07/01/56

6,430,737

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

7,345,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Oceanaire-Long

Beach,

Social

Series

2021A-2

4.000 %

09/01/56

$

5,380,796

450,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Orange

City

Portfolio,

Mezzanine

Lien

Series

2021B

4.000 03/01/57

339,797

11,140,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Parallel-Anaheim

Series

2021A

4.000 08/01/56

10,238,054

4,020,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Pasadena

Portfolio

Social

Bond,

Mezzanine

Senior

Series

2021B

4.000 12/01/56

3,066,710

8,025,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Union

South

Bay,

Series

2021A-2

4.000 07/01/56

6,744,903

2,010,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Waterscape

Apartments,

Mezzanine

Lien

Series

2021B

4.000 09/01/46

1,726,344

5,700,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Westgate

Phase

1-Pasadena

Apartments,

Senior

Lien

Series

2021A-1

3.000 06/01/47

4,137,295

20,760,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Westgate

Phase

1-Pasadena

Apartments,

Senior

Lien

Series

2021A-2

3.125 06/01/57

12,808,169

21,185,000

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Wood

Creek

Apartments,

Senior

Lien

Series

2021A-1

3.000 12/01/49

15,322,257

4,190,000

Los

Angeles

Housing

Authority,

California,

Multifamily

Housing

Revenue

Bonds,

Clarendon

Apartments,

Senior

Series

2024A

4.400 12/01/54

3,950,162

7,290,000

Los

Angeles

Housing

Authority,

California,

Multifamily

Housing

Revenue

Bonds,

Clarendon

Apartments,

Senior

Series

2024A

4.500 12/01/59

6,960,359

TOTAL

HOUSING/MULTIFAMILY

346,962,593

LONG-TERM

CARE

-

0.5%

(0.3%

of

Total

Investments)

6,120,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

HumanGood

California

Obligated

Group,

Refunding

Series

2019

4.000 10/01/37

6,130,961

1,900,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Odd

Fellows

Home

of

California

Project,

Insured

Refunding

Series

2023A

4.000 04/01/43

1,924,025

1,000,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Odd

Fellows

Home

of

California

Project,

Insured

Refunding

Series

2023A

4.125 04/01/53

970,275

TOTAL

LONG-TERM

CARE

9,025,261

TAX

OBLIGATION/GENERAL

-

31.6%

(19.3%

of

Total

Investments)

20,995,000

Berkeley

Unified

School

District,

Alameda

County,

California,

General

Obligation

Bonds,

Election

of

2020

Series

2024D

4.000 08/01/54

20,352,891

4,420,000

Butte-Glenn

Community

College

District,

Butte

and

Glenn

Counties,

California,

General

Obligation

Bonds,

Election

2016

Series

2017A

5.250 08/01/46

4,515,117

2,500,000

California

State,

General

Obligation

Bonds,

Refunding

Various

Purpose

Bid

Group

C

Series

2016

5.000 09/01/32

2,535,881

4,000,000

California

State,

General

Obligation

Bonds,

Refunding

Various

Purpose

Series

2016

5.000 09/01/35

4,052,623

3,570,000

California

State,

General

Obligation

Bonds,

Refunding

Various

Purpose

Series

2021. Forward

Delivery

5.000 09/01/41

3,943,910

50,000

California

State,

General

Obligation

Bonds,

Series

2013

5.000 02/01/29

50,117

1,000,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Refunding

Series

2016

5.000 09/01/34

1,013,654

14,780,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2017

5.000 11/01/47

15,042,082

5,000,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2018. Bid

Group

A/B

5.000 10/01/48

5,146,474

1,770,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2020

4.000 11/01/45

1,769,957

5,250,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2025

5.250 08/01/55

5,752,550

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAC

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

5,400,000

Central

Unified

School

District,

Fresno

County,

California,

General

Obligation

Bonds,

2016

Election

Series

2018B.

4.000 %

08/01/48

$

5,254,523

7,850,000

Cerritos

Community

College

District,

California,

General

Obligation

Bonds,

Election

of

2022

Series

2024A

4.000 08/01/49

7,768,677

7,860,000

Corona-Norco

Unified

School

District,

Riverside

County,

California,

General

Obligation

Bonds,

Election

2014,

Series

2019C

-

BAM

Insured

3.000 08/01/44

6,834,990

15,285,000

Desert

Community

College

District,

Riverside

County,

California,

General

Obligation

Bonds,

Election

of

2016

Series

2024

4.000 08/01/51

14,902,670

5,000,000

Elk

Grove

Unified

School

District,

Sacramento

County,

California,

General

Obligation

Bonds,

Election

of

2016,

Series

2017

4.000 08/01/46

4,909,628

5,000,000

Franklin-McKinley

School

District,

Santa

Clara

County,

California,

General

Obligation

Bonds,

Election

of

2020,

Series

2023B

4.250 08/01/49

4,993,328

15,250,000

Glendale

Community

College

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Election

2016

Taxable

Refunding

Series

2020B

4.000 08/01/50

14,887,617

6,185,000

Grossmont-Cuyamaca

Community

College

District,

California,

General

Obligation

Bonds,

Refunding

Series

2018

4.000 08/01/47

6,135,718

5,150,000

Hacienda

La

Puente

Unified

School

District

Facilities

Financing

Authority,

California,

General

Obligation

Revenue

Bonds,

Program

Series

2007

-

AGM

Insured

5.000 08/01/26

5,213,927

3,000,000

Hacienda

La

Puente

Unified

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

2016

Election,

Series

2017A

4.000 08/01/47

2,967,623

5,585,000

Lake

Elsinore

Unified

School

District,

Riverside

County,

California,

General

Obligation

Bonds,

2016

Election

Series

B

-

BAM

Insured

4.000 08/01/49

5,419,126

5,630,000

(e) Lake

Tahoe

Unified

School

District,

El

Dorado

County,

California,

General

Obligation

Bonds,

Series

2010

-

AGM

Insured

0.000 08/01/45

5,233,275

4,140,000

Los

Angeles

Community

College

District,

California,

General

Obligation

Bonds,

2008

Election

Series

2017J

4.000 08/01/41

4,168,004

14,425,000

Los

Angeles

County,

California,

Tax

and

Revenue

Anticipation

Notes,

Series

2025-26

5.000 06/30/26

14,563,125

1,285,000

Los

Angeles

Unified

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Measure

Q

Series

2020C

4.000 07/01/40

1,328,369

44,585,000

Los

Angeles,

California,

General

Obligation

Bonds,

Tax

&

Revenue

Anticipation

Notes,

Series

2025

5.000 06/25/26

44,973,835

3,100,000

Manteca

Unified

School

District,

San

Joaquin

County,

California,

General

Obligation

Bonds,

Election

2014

Series

2017B

4.000 08/01/42

3,113,461

10,000,000

Marin

Healthcare

District,

Marin

County,

California,

General

Obligation

Bonds,

2013

Election,

Series

2015A

4.000 08/01/40

10,002,450

7,500,000

Marin

Healthcare

District,

Marin

County,

California,

General

Obligation

Bonds,

2013

Election,

Series

2015A

4.000 08/01/45

7,439,365

4,100,000

Monrovia

Unified

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Series

2001B

-

FGIC

Insured

0.000 08/01/27

3,967,688

4,650,000

Monterey

Peninsula

Community

College

District,

Monterey

County,

California,

General

Obligation

Bonds,

Election

of

2020

Series

2024B

4.000 08/01/51

4,547,977

6,950,000

Morgan

Hill

Unified

School

District,

Santa

Clara

County,

California,

General

Obligation

Bonds,

Election

2012

Series

2017B

4.000 08/01/47

6,952,093

5,330,000

Mount

San

Antonio

Community

College

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Election

of

2024,

Series

2025A

5.250 08/01/55

5,822,729

10,765,000

North

Orange

County

Community

College

District,

California,

General

Obligation

Bonds,

Election

of

2002

Series

2003B

-

FGIC

Insured

0.000 08/01/27

10,464,332

2,250,000

Oak

Grove

School

District,

Santa

Clara

County,

California,

General

Obligation

Bonds,

Election

of

2022,

Series

2026

4.250 08/01/54

2,254,287

5,000,000

Oakland

Unified

School

District,

Alameda

County,

California,

General

Obligation

Bonds,

Election

2020,

Series

2023A

-

AGM

Insured

5.250 08/01/48

5,375,984

11,890,000

Palmdale

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

2022

Election

Series

2025

4.250 08/01/55

11,619,581

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

10,330,000

Palomar

Pomerado

Health,

California,

General

Obligation

Bonds,

Convertible

Capital

Appreciation,

Election

2004

Series

2010A

0.000 %

08/01/35

$

6,598,041

5,000,000

Paramount

Unified

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Election

2006

Series

2011

6.375 08/01/45

5,823,402

7,350,000

Pleasant

Valley

School

District,

Ventura

County,

California,

General

Obligation

Bonds,

Refunding

Series

B

4.000 08/01/46

7,327,713

16,736,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

4.000 07/01/41

16,243,516

28,000,000

San

Bernardino

Community

College

District,

California,

General

Obligation

Bonds,

Election

of

2008

Series

2009B

0.000 08/01/44

13,021,537

9,000,000

San

Diego

Unified

School

District,

San

Diego

County,

California,

General

Obligation

Bonds,

Dedicated

Unlimited

Ad

Valorem

Property

Tax,

2018

Election

Green

Series

2023G-3

4.000 07/01/53

8,706,333

7,500,000

San

Francisco

Bay

Area

Rapid

Transit

District,

California,

General

Obligation

Bonds

Election

of

2016

Green

Series

2022D-1

4.250 08/01/52

7,499,998

9,760,000

San

Francisco

Community

College

District,

California,

General

Obligation

Bonds,

Election

2020

Series

2020A

4.000 06/15/45

9,761,511

4,970,000

San

Rafael

City

High

School

District,

Marin

County,

California,

General

Obligation

Bonds,

Series

2004B

-

FGIC

Insured

0.000 08/01/27

4,808,940

10,000,000

Santa

Cruz

City

High

School

District,

Santa

Cruz

County,

California,

General

Obligation

Bonds,

Election

of

2022,

Series

2024A

4.000 08/01/54

9,694,161

5,530,000

(e) Stockton

Unified

School

District,

San

Joaquin

County,

California,

General

Obligation

Bonds,

Election

2008

Series

2011D

-

AGM

Insured

0.000 08/01/50

6,489,577

26,000,000

(e) Sylvan

Union

School

District,

Stanislaus

County,

California,

General

Obligation

Bonds,

Election

of

2006,

Series

2010

-

AGM

Insured

0.000 08/01/49

24,415,417

4,740,000

Washington

Township

Health

Care

District,

Alameda

County,

California,

General

Obligation

Bonds,

2004

Election

Series

2013B

5.500 08/01/38

4,770,523

4,830,000

Washington

Township

Health

Care

District,

Alameda

County,

California,

General

Obligation

Bonds,

2004

Election

Series

2013B

5.500 08/01/40

4,861,131

20,510,000

Washington

Township

Health

Care

District,

Alameda

County,

California,

General

Obligation

Bonds,

2004

Election

Series

2013B

5.000 08/01/43

20,519,334

4,355,000

Washington

Township

Health

Care

District,

Alameda

County,

California,

General

Obligation

Bonds,

2012

Election

Series

2013A

5.500 08/01/38

4,383,043

3,500,000

Washington

Township

Health

Care

District,

Alameda

County,

California,

General

Obligation

Bonds,

2012

Election

Series

2013A

5.500 08/01/40

3,522,559

8,410,000

Washington

Township

Health

Care

District,

Alameda

County,

California,

General

Obligation

Bonds,

2012

Election

Series

2015B

4.000 08/01/45

8,409,623

750,000

Washington

Township

Health

Care

District,

California,

General

Obligation

Bonds,

2020

Election

Series

2023B

-

AGM

Insured

4.250 08/01/45

766,720

2,575,000

Washington

Township

Health

Care

District,

California,

General

Obligation

Bonds,

2020

Election

Series

2023B

5.250 08/01/48

2,816,892

140,160,000

(e) Yosemite

Community

College

District,

California,

General

Obligation

Bonds,

Capital

Appreciation,

Election

2004,

Series

2010D

0.000 08/01/42

133,963,064

TOTAL

TAX

OBLIGATION/GENERAL

589,692,673

TAX

OBLIGATION/LIMITED

-

13.4%

(8.2%

of

Total

Investments)

1,655,000

Bell

Community

Housing

Authority,

California,

Lease

Revenue

Bonds,

Series

2005

-

AMBAC

Insured

5.000 10/01/36

1,655,519

615,000

Brentwood

Infrastructure

Financing

Authority,

California,

Infrastructure

Revenue

Bonds,

Refunding

Subordinated

Series

2014B

5.000 09/02/36

615,403

1,200,000

California

Infrastructure

and

Economic

Development

Bank,

Lease

Revenue

Bonds,

California

State

Teachers

Retirement

System

Headquarters

Expansion,

Green

Bond-Climate

Bond

Certified

Series

2019

5.000 08/01/44

1,264,028

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAC

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

13,520,000

California

State

Public

Works

Board,

Lease

Revenue

Bonds,

Various

Capital

Projects,

Series

2014E

5.000 %

09/01/39

$

13,545,404

1,605,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2016B

5.000 09/02/46

1,609,383

2,550,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2017C

5.000 09/02/47

2,561,475

2,000,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2018A

5.000 09/02/47

2,024,537

1,355,000

Corona,

California,

Special

Tax

Bonds,

Community

Facilities

District

2018-1

Bedford,

Series

2018A

5.000 09/01/43

1,373,720

5,250,000

Irvine

Facilities

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Great

Park

Infrastructure

Project

Series

2023A

5.000 09/01/43

5,838,609

980,000

Lathrop,

California,

Limited

Obligation

Improvement

Bonds,

Crossroads

Assessment

District,

Series

2015

5.000 09/02/40

983,894

5,620,000

Los

Angeles

County

Metropolitan

Transportation

Authority,

California,

Measure

R

Sales

Tax

Revenue

Bonds,

Senior

Series

2016A

5.000 06/01/37

5,654,306

10,455,000

Los

Angeles

County

Metropolitan

Transportation

Authority,

California,

Measure

R

Sales

Tax

Revenue

Bonds,

Senior

Series

2016A

5.000 06/01/38

10,515,003

5,000,000

Los

Angeles

County

Metropolitan

Transportation

Authority,

California,

Proposition

C

Sales

Tax

Revenue

Bonds,

Green

Senior

Lien

Series

2019A

5.000 07/01/39

5,273,650

20,735,000

Los

Angeles

County

Metropolitan

Transportation

Authority,

California,

Proposition

C

Sales

Tax

Revenue

Bonds,

Green

Senior

Lien

Series

2019A

5.000 07/01/44

21,714,756

3,995,000

Los

Angeles

County

Metropolitan

Transportation

Authority,

California,

Proposition

C

Sales

Tax

Revenue

Bonds,

Senior

Lien

Series

2017A

5.000 07/01/42

4,101,188

2,000,000

Los

Angeles

County

Public

Works

Financing

Authority,

California,

Lease

Revenue

Bonds,

Series

2019E-1

5.000 12/01/49

2,085,186

8,000,000

Los

Angeles

County

Public

Works

Financing

Authority,

California,

Lease

Revenue

Bonds,

Series

2025J

5.250 12/01/54

8,649,166

1,835,000

Modesto,

California,

Speical

Tax

Bonds,

Community

Faclities

District

2004-1

Village

One

2,

Refunding

Series

2014

5.000 09/01/31

1,838,314

1,000,000

Norco

Redevelopment

Agency,

California,

Tax

Allocation

Bonds,

Project

Area

1,

Series

2009

7.000 03/01/34

1,003,680

6,055,000

Orange

County

Local

Transportation

Authority,

California,

Measure

M2

Sales

Tax

Revenue

Bonds,

Limited

Tax

Series

2019

5.000 02/15/41

6,406,868

8,831,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

0.000 07/01/46

3,176,604

14,741,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

0.000 07/01/51

3,878,466

82,962,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

5.000 07/01/58

81,429,568

5,500,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.329 07/01/40

5,511,376

43,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.536 07/01/53

40,346

8,185,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.784 07/01/58

7,930,547

815,000

River

Islands

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

2003-1

Improvement

Area

1,

Refunding

Series

2022A-1

-

AGM

Insured

4.250 09/01/47

816,762

5,000,000

Riverside

County

Transportation

Commission,

California,

Sales

Tax

Revenue

Bonds,

Refunding

Limited

Tax

Series

2017B

5.000 06/01/38

5,226,201

4,250,000

Sacramento

City

Financing

Authority,

California,

Tax

Allocation

Revenue

Bonds,

Merged

Downtown

Sacramento

and

Oak

Park

Projects,

Series

2005A

-

FGIC

Insured

0.000 12/01/31

3,624,494

610,000

San

Buenaventura

Redevelopment

Agency,

California,

Tax

Allocation

Bonds,

Merged

Project

Areas,

Series

2008

7.750 08/01/28

612,602

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

1,325,000

San

Buenaventura

Redevelopment

Agency,

California,

Tax

Allocation

Bonds,

Merged

Project

Areas,

Series

2008

8.000 %

08/01/38

$

1,330,617

1,605,000

San

Francisco

City

and

County

Redevelopment

Agency

Successor

Agency,

California,

Special

Tax

Bonds,

Community

Facilities

District

7,

Hunters

Point

Shipyard

Phase

One

Improvements,

Refunding

Series

2014

5.000 08/01/39

1,613,281

5,000,000

San

Francisco

City

and

County

Redevelopment

Agency

Successor

Agency,

California,

Tax

Allocation

Bonds,

Mission

Bay

North

Redevelopment

Project,

Refunding

Series

2016A

-

NPFG

Insured

5.000 08/01/41

5,035,820

280,000

Signal

Hill

Redevelopment

Agency,

California,

Project

Tax

Allocation

Bonds,

Series

2011

7.000 10/01/26

280,944

2,500,000

Stockton

Public

Financing

Authority,

California,

Revenue

Bonds,

Arch

Road

East

Community

Facility

District

99-02,

Series

2018A

5.000 09/01/37

2,577,660

495,000

(a) Temecula

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

16-01,

Series

2017

5.500 09/01/27

509,285

1,435,000

(a) Temecula

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

16-01,

Series

2017

5.750 09/01/32

1,494,862

5,520,000

(a) Temecula

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

16-01,

Series

2017

6.250 09/01/47

5,653,871

1,700,000

Tracy,

California,

Special

Tax

Bonds,

Community

Facilities

District

2016-1

Tracy

Hills, Improvement

Area

2,

Series

2023

5.750 09/01/48

1,805,637

4,315,000

Transbay

Joint

Powers

Authority,

California,

Tax

Allocation

Bonds,

Senior

Green

Series

2020A

5.000 10/01/45

4,370,853

7,285,000

Transbay

Joint

Powers

Authority,

California,

Tax

Allocation

Bonds,

Senior

Green

Series

2020A

5.000 10/01/49

7,300,983

1,315,000

Virgin

Islands

Public

Finance

Authority,

Gross

Receipts

Taxes

Loan

Note,

Refunding

Series

2012A

-

AGM

Insured

5.000 10/01/32

1,319,228

2,105,000

West

Sacramento,

California,

Special

Tax

Bonds,

Community

Facilities

District

Bridge

District,

Refunding

Series

2016

5.000 09/01/40

2,116,618

4,205,000

West

Sacramento,

California,

Special

Tax

Bonds,

Community

Facilities

District

Bridge

District,

Series

2017

5.000 09/01/47

4,225,089

TOTAL

TAX

OBLIGATION/LIMITED

250,595,803

TRANSPORTATION

-

26.9%

(16.4%

of

Total

Investments)

7,025,000

Bay

Area

Toll

Authority,

California,

Revenue

Bonds,

San

Francisco

Bay

Area

Toll

Bridge,

Series

2023F-2

4.125 04/01/54

6,932,861

10,000,000

Bay

Area

Toll

Authority,

California,

Revenue

Bonds,

San

Francisco

Bay

Area

Toll

Bridge,

Subordinate

Fixed

Rate

Series

2017S-7

4.000 04/01/37

10,106,840

5,760,000

Burbank-Glendale-Pasadena

Airport

Authority,

California,

Airport

Revenue

Bonds,

Senior

Series

2024B

-

AGM

Insured,

(AMT)

4.500 07/01/54

5,700,628

7,775,000

California

Municipal

Finance

Authority,

Special

Facility

Revenue

Bonds,

United

Airlines,

Inc.

Los

Angeles

International

Airport

Project,

Series

2019,

(AMT)

4.000 07/15/29

7,928,968

10,979,000

Foothill/Eastern

Transportation

Corridor

Agency,

California,

Toll

Road

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021A

4.000 01/15/46

10,783,869

7,500,000

Long

Beach,

California,

Harbor

Revenue

Bonds,

Series

2019A

5.000 05/15/49

7,791,745

11,400,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Refunding

Subordinate

Green

Series

2025A,

(AMT)

5.250 05/15/50

12,094,451

13,600,000

(f) Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Refunding

Subordinate

Green

Series

2025A,

(AMT),

(UB)

5.250 05/15/50

14,428,467

4,160,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Refunding

Subordinate

Lien

Private

Activity

Series

2021A,

(AMT)

5.000 05/15/46

4,311,528

13,625,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Refunding

Subordinate

Lien

Private

Activity

Series

2021A,

(AMT)

5.000 05/15/51

13,936,852

4,850,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Senior

Series

2022H,

(AMT)

5.000 05/15/42

5,202,127

5,080,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Senior

Series

2022H,

(AMT)

5.000 05/15/52

5,185,832

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAC

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

24,405,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2016B,

(AMT)

5.000 %

05/15/46

$

24,438,115

3,310,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2018C,

(AMT)

5.000 05/15/44

3,365,437

5,000,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2018D,

(AMT)

5.000 05/15/48

5,084,466

5,485,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2019E

5.000 05/15/44

5,760,310

945,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2021D,

(AMT)

5.000 05/15/37

1,040,768

22,230,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2021D,

(AMT)

5.000 05/15/46

23,108,810

3,750,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2022A,

(AMT)

5.000 05/15/45

3,939,878

4,780,000

Riverside

County

Transportation

Commission,

California,

Toll

Revenue

Second

Lien

Bonds,

RCTC

Express

Lanes,

Refunding

Series

2021C

4.000 06/01/47

4,414,354

7,750,000

Riverside

County

Transportation

Commission,

California,

Toll

Revenue

Senior

Lien

Bonds,

RCTC

Express

Lanes,

Refunding

Series

2021B-1

4.000 06/01/46

7,265,950

20,000,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

International

Senior

Series

2023B,

(AMT)

5.250 07/01/58

20,811,866

3,600,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Refunding

Subordinate

Series

2019A

5.000 07/01/34

3,934,680

1,250,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Refunding

Subordinate

Series

2019A

5.000 07/01/36

1,357,006

6,000,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Subordinate

Series

2021A

4.000 07/01/51

5,768,232

34,270,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Governmental

Purpose

Second

Series

2017B

5.000 05/01/47

34,765,051

3,040,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2019A,

(AMT)

5.000 05/01/38

3,209,628

43,180,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2019A,

(AMT)

5.000 05/01/44

44,488,596

22,345,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2019A,

(AMT)

5.000 05/01/49

22,690,219

16,410,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2023C,

(AMT)

5.500 05/01/42

18,461,683

11,000,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2023C,

(AMT)

5.500 05/01/43

12,272,308

1,845,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2023C,

(AMT)

5.750 05/01/48

2,008,771

22,835,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2016B,

(AMT)

5.000 05/01/46

22,859,776

10,910,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2017A,

(AMT)

5.000 05/01/42

11,074,546

3,775,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2018D,

(AMT)

5.000 05/01/48

3,819,002

24,820,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2018D,

(AMT)

5.250 05/01/48

25,282,121

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

4,900,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2019E,

(AMT)

5.000 %

05/01/40

$

5,142,058

3,540,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2019E,

(AMT)

5.000 05/01/50

3,585,644

7,510,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2019F

5.000 05/01/50

7,724,938

4,135,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2025A,

(AMT)

5.250 05/01/55

4,362,920

10,815,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2025A,

(AMT)

5.500 05/01/55

11,645,885

30,000,000

(f) San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2025D,

(AMT),

(UB)

5.250 05/01/55

31,653,588

16,936,000

San

Joaquin

Hills

Transportation

Corridor

Agency,

Orange

County,

California,

Refunding

Senior

Lien

Toll

Road

Revenue

Bonds,

Series

2021A

4.000 01/15/50

15,926,970

6,250,000

San

Jose,

California,

Airport

Revenue

Bonds,

Refunding

Series

2017A,

(AMT)

5.000 03/01/47

6,276,153

TOTAL

TRANSPORTATION

501,943,897

U.S.

GUARANTEED

-

2.3%

(g)(1.4%

of

Total

Investments)

18,400,000

Antelope

Valley

Community

College

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Election

2016

Series

2017A,

(Pre-refunded

2/15/27)

5.250 08/01/42

18,967,622

12,880,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2016B,

(Pre-

refunded

11/15/26)

5.000 11/15/46

13,159,217

95,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A,

(Pre-refunded

4/01/30)

4.000 04/01/49

102,797

55,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2021D,

(Pre-refunded

11/15/31),

(AMT)

5.000 05/15/37

62,339

70,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2021D,

(Pre-refunded

11/15/31),

(AMT)

5.000 05/15/46

79,341

5,840,000

Orange

County

Water

District,

California,

Revenue

Certificates

of

Participation,

Series

1999A,

(ETM)

5.375 08/15/29

6,298,039

905,000

Orange

County

Water

District,

California,

Revenue

Certificates

of

Participation,

Series

2003B,

(Pre-refunded

8/15/32)

-

NPFG

Insured

5.000 08/15/34

1,061,032

2,000,000

Puerto

Rico

Public

Finance

Corporation,

Commonwealth

Appropriation

Bonds,

Series

2002E,

(ETM)

6.000 08/01/26

2,029,338

1,460,000

Rohnert

Park

Community

Development

Commission,

California,

Tax

Allocation

Bonds,

Redevelopment

Project

Series

2007R

-

FGIC

Insured,

(ETM)

5.000 08/01/37

1,528,708

5,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2018D,

(Pre-

refunded

5/01/28),

(AMT)

5.000 05/01/48

5,199

TOTAL

U.S.

GUARANTEED

43,293,632

UTILITIES

-

28.5%

(17.4%

of

Total

Investments)

44,950,000

(d),(f)

California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2023G,

(Mandatory

Put

4/01/30),

(UB)

5.250 11/01/54

48,496,348

5,000,000

(d) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2024A,

(Mandatory

Put

4/01/32)

5.000 05/01/54

5,454,475

38,915,000

(d) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2024B,

(Mandatory

Put

12/01/32)

5.000 01/01/55

41,150,153

5,150,000

(d) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2024C,

(Mandatory

Put

10/01/32)

5.000 08/01/55

5,575,331

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAC

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

10,000,000

(d) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2025D,

(Mandatory

Put

7/01/34)

5.000 %

10/01/55

$

10,662,683

2,000,000

California

Infrastructure

and

Economic

Development

Bank,

Clean

Water

and

Drinking

Water

State

Revolving

Fund

Revenue

Bonds,

Green

Series

2025

4.125 10/01/47

2,012,765

3,925,000

(a) California

Pollution

Control

Financing

Authority,

Water

Furnishing

Revenue

Bonds,

Poseidon

Resources

Channelside

LP

Desalination

Project,

Series

2012,

(AMT)

5.000 07/01/37

3,940,003

69,535,000

(a) California

Pollution

Control

Financing

Authority,

Water

Furnishing

Revenue

Bonds,

Poseidon

Resources

Channelside

LP

Desalination

Project,

Series

2012,

(AMT)

5.000 11/21/45

69,625,076

2,200,000

East

Bay

Municipal

Utility

District,

Alameda

and

Contra

Costa

Counties,

California,

Water

System

Revenue

Bonds,

Green

Series

2017A

5.000 06/01/45

2,240,962

5,000,000

East

Bay

Municipal

Utility

District,

Alameda

and

Contra

Costa

Counties,

California,

Water

System

Revenue

Bonds,

Green

Series

2019A

5.000 06/01/49

5,190,511

2,500,000

El

Dorado

Irrigation

District,

California,

Certificates

of

Participation,

Revenue

Bonds,

Series

2024A

4.000 03/01/50

2,411,779

14,140,000

Long

Beach

Bond

Finance

Authority,

California,

Natural

Gas

Purchase

Revenue

Bonds,

Series

2007A

5.000 11/15/35

16,507,647

7,610,000

Long

Beach

Bond

Finance

Authority,

California,

Natural

Gas

Purchase

Revenue

Bonds,

Series

2007A

5.500 11/15/37

9,286,315

62,085,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2017C

5.000 07/01/47

62,777,161

8,960,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2018D

5.000 07/01/38

9,333,793

3,910,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2018D

5.000 07/01/39

4,060,366

8,980,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2019A

5.000 07/01/45

9,254,694

8,960,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2020B

5.000 07/01/40

9,588,595

5,105,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2020B

5.000 07/01/45

5,337,466

24,625,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2020B

5.000 07/01/50

25,312,116

2,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2021C

5.000 07/01/51

2,064,001

4,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2022B

5.000 07/01/47

4,220,206

6,500,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2022B

5.000 07/01/52

6,731,448

3,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2022C

5.000 07/01/39

3,291,591

2,325,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2022C

5.000 07/01/41

2,529,937

4,370,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2025A

-

BAM

Insured

5.000 07/01/53

4,588,732

10,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2025C

5.000 07/01/55

10,463,699

3,500,000

Los

Angeles

Department

of

Water

and

Power,

California,

Water

System

Revenue

Bonds,

Series

2022B

5.000 07/01/52

3,615,955

2,875,000

Los

Angeles

Department

of

Water

and

Power,

California,

Water

System

Revenue

Bonds,

Series

2023A

5.000 07/01/49

3,015,181

35,245,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2017A

5.000 07/01/44

35,608,972

2,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2020C

5.000 07/01/36

2,178,744

3,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2020C

5.000 07/01/38

3,237,032

5,000,000

Los

Angeles,

California,

Wastewater

System

Revenue

Bonds,

Green

Subordinate

Series

2018A

5.000 06/01/43

5,196,751

See

Notes

to

Financial

Statements

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

6,500,000

Metropolitan

Water

District

of

Southern

California,

Water

Revenue

Bonds,

Refunding

Series

2023A

5.000 %

04/01/53

$

6,879,545

7,525,000

Moulton

Niguel

Water

District,

California,

Certificates

of

Participation,

Series

2019

3.000 09/01/44

6,584,543

4,415,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A

5.000 07/01/47

4,424,900

2,250,000

Roseville

Finance

Authority,

California,Electric

System

Revenue

Bonds,

Series

2026. 5.000 02/01/45

2,513,196

1,900,000

Roseville

Finance

Authority,California,

Electric

System

Revenue

Bonds,

Series

2026. 5.000 02/01/46

2,098,103

2,950,000

Sacramento

County

Sanitation

Districts

Financing

Authority,

California,

Revenue

Bonds,

Sacramento

Regional

County

Sanitation

District,

Series

2020A

5.000 12/01/50

3,079,381

16,670,000

Sacramento

Municipal

Utility

District,

California,

Electric

Revenue

Bonds,

Climate

Certified

Green

Series

2023K

5.000 08/15/53

17,666,916

1,510,000

Sacramento

Municipal

Utility

District,

California,

Electric

Revenue

Bonds,

Series

2020H

5.000 08/15/50

1,571,899

7,000,000

Sacremento

Municipal

Utility

District,

California,

Electric

Revenue

Bonds,

Series

2019G

5.000 08/15/41

7,495,359

4,000,000

San

Diego

Public

Facilities

Financing

Authority,

California,

Water

Revenue

Bonds,

Senior

Series

2023A

4.000 08/01/52

3,904,541

1,180,000

San

Diego

Public

Facilities

Financing

Authority,

California,

Water

Utility

Revenue

Bonds,

Refunding

Subordinate

Lien

Series

2016B

5.000 08/01/37

1,191,191

1,250,000

San

Joaquin

County,

California,

Revenue

Bonds,

CSA

County

Service

Area

31,

Refunding

Series

2018A

5.000 08/01/38

1,276,135

4,000,000

Southern

California

Public

Power

Authority,

Natural

Gas

Project

Revenue

Bonds,

Series

2007A

5.000 11/01/33

4,531,984

31,970,000

Southern

California

Public

Power

Authority,

Southern

Transmission

System

Renewal

Project

Revenue

Bonds,

Series

2023-1A

5.000 07/01/48

33,719,788

TOTAL

UTILITIES

531,897,969

TOTAL

MUNICIPAL

BONDS

(Cost

$2,975,351,889)

3,022,049,630

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$2,975,351,889)

3,022,049,630

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

-

1.9%

(1.1%

of

Total

Investments)

X

35,000,000

MUNICIPAL

BONDS

-

1.9% (1.1%

of

Total

Investments)

X

–

TRANSPORTATION

-

1.9%

(1.1%

of

Total

Investments)

$

35,000,000

(h) Bay

Area

Toll

Authority,

California,

Revenue

Bonds,

San

Francisco

Bay

Area

Toll

Bridge,

Series

2024A

1.100 04/01/59

$

35,000,000

TOTAL

TRANSPORTATION

35,000,000

TOTAL

MUNICIPAL

BONDS

(Cost

$35,000,000)

35,000,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$35,000,000)

35,000,000

TOTAL

INVESTMENTS

-

163.8%

(Cost

$3,010,351,889)

3,057,049,630

FLOATING

RATE

OBLIGATIONS

-

(3.7)%

(68,590,000)

MFP

SHARES,

NET

-

(13.8)%

(i) (256,956,885)

VRDP

SHARES,

NET

-

(47.2)%

(j) (881,741,949)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.9%

16,691,158

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

-

100%

$

1,866,451,954

AMT

Alternative

Minimum

Tax

ETM

Escrowed

to

maturity

UB

Underlying

bond

of

an

inverse

floating

rate

trust

reflected

as

a

financing

transaction.

Inverse

floating

rate

trust

is

a

Recourse

Trust

unless

otherwise

noted.

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAC

See

Notes

to

Financial

Statements

(a) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$430,521,809

or

14.1%

of

Total

Investments.

(b) When-issued

or

delayed

delivery

security.

(c) Effective

February

12,

2019,

the

par

value

of

the

original

bonds

was

replaced

with

taxable

and

tax

exempt

Puerto

Rico

Sales

Tax

Financing

Corporation

(commonly

known

as

COFINA)

bond

units

that

are

collateralized

by

a

bundle

of

zero

and

coupon

paying

bonds.

The

quantity

shown

represents

units

in

a

trust,

which

were

assigned

according

to

the

original

bond's

accreted

value.

These

securities

do

not

have

a

stated

coupon

interest

rate

and

income

will

be

recognized

through

accretion

of

the

discount

associated

with

the

trust

units.

The

factor

at

which

these

units

accrete

can

also

decrease,

primarily

for

principal

payments

generated

from

coupon

payments

received

or

dispositions

of

the

underlying

bond

collateral.

The

quantity

of

units

will

not

change

as

a

result

of

these

principal

payments.

(d) Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable. For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(e) Step-up

coupon

bond,

a

bond

with

a

coupon

that

increases

("steps

up"),

usually

at

regular

intervals,

while

the

bond

is

outstanding.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

fiscal

period.

(f) Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

inverse

floating

rate

transactions.

(g) Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(h) Investment

has

a

maturity

of

greater

than

one

year,

but

has

variable

rate

and/or

demand

features

which

qualify

it

as

a

short-term

investment.

The

rate

disclosed,

as

well

as

the

reference

rate

and

spread,

where

applicable,

is

that

in

effect

as

of

the

end

of

the

reporting

period.

This

rate

changes

periodically

based

on

market

conditions

or

a

specified

market

index.

(i) MFP

Shares,

Net

as

a

percentage

of

Total

Investments

is

8.4%.

(j) VRDP

Shares,

Net

as

a

percentage

of

Total

Investments

is

28.8%.

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026

#### NXJ
See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

168.3% (99.6%

of

Total

Investments)

X

902,353,072

MUNICIPAL

BONDS

-

168.3% (99.6%

of

Total

Investments)

X

–

CONSUMER

STAPLES

-

5.3%

(3.2%

of

Total

Investments)

$

8,525,000

Tobacco

Settlement

Financing

Corporation,

New

Jersey,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2018A

4.000 %

06/01/37

$

8,567,711

12,895,000

Tobacco

Settlement

Financing

Corporation,

New

Jersey,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2018A

5.000 06/01/46

12,918,433

7,250,000

Tobacco

Settlement

Financing

Corporation,

New

Jersey,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2018B

5.000 06/01/46

7,183,483

TOTAL

CONSUMER

STAPLES

28,669,627

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

19.9%

(11.8%

of

Total

Investments)

1,000,000

Atlantic

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Revenue

Bonds,

Stockton

University

Atlantic

City

Campus

Phase

II,

Series

2021A

-

AGM

Insured

4.000 07/01/53

905,824

715,000

Camden

County

Improvement

Authority,

New

Jersey,

School

Revenue

Bonds,

KIPP:

Cooper

Norcross

Academy

2022

Project,

Social

Series

2022

6.000 06/15/62

739,797

1,600,000

Essex

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Revenue

Bonds,

Institute

of

Technology

CHF-

Newark,

LLC-NJIT

Student

Housing

Project,

Series

2021A

-

BAM

Insured

4.000 08/01/51

1,511,940

1,000,000

Essex

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Revenue

Bonds,

Institute

of

Technology

CHF-

Newark,

LLC-NJIT

Student

Housing

Project,

Series

2021A

-

BAM

Insured

4.000 08/01/56

926,853

1,000,000

Gloucester

County

Improvement

Authority,

New

Jersey,

Revenue

Bonds,

Rowan

University

Fossil

Park

&

Student

Center

Projects,

Series

2021

-

BAM

Insured

4.000 07/01/46

993,451

3,210,000

Gloucester

County

Improvement

Authority,

New

Jersey,

Revenue

Bonds,

Rowan

University

Project,

County

Guaranteed

Loan,

Series

2024

-

BAM

Insured

5.000 07/01/49

3,352,380

4,000,000

Gloucester

County

Improvement

Authority,

New

Jersey,

Revenue

Bonds,

Rowan

University

Project,

County

Guaranteed

Loan,

Series

2024

-

BAM

Insured

5.000 07/01/54

4,149,193

1,290,000

Montclair

State

University,

New

Jersey,

General

Obligation

Bonds,

Series

2025A

5.000 07/01/32

1,480,185

885,000

Montclair

State

University,

New

Jersey,

General

Obligation

Bonds,

Series

2025A

5.000 07/01/33

1,027,989

715,000

Montclair

State

University,

New

Jersey,

General

Obligation

Bonds,

Series

2025A

5.000 07/01/34

837,233

1,060,000

New

Jersey

Economic

Development

Authority,

Charter

School

Revenue

Bonds,

Central

Jersey

College

Prep

Charter

School

Project,

Series

2025

5.125 11/01/55

1,063,367

1,000,000

New

Jersey

Economic

Development

Authority,

Charter

School

Revenue

Bonds,

Foundation

Academy

Charter

School,

Series

2018A

5.000 07/01/50

947,724

840,000

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

The

Seeing

Eye

Inc.,

Refunding

Series

2017

3.000 06/01/32

842,960

500,000

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

The

Seeing

Eye

Inc.,

Refunding

Series

2017

5.000 06/01/32

519,908

770,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Kean

University,

Refunding

Series

2015H

-

AGM

Insured

4.000 07/01/39

770,218

6,000,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Princeton

University,

Series

2024A-1

5.000 03/01/37

7,035,192

10,000,000

(a) New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Princeton

University,

Series

2024B,

(UB)

4.000 03/01/53

9,834,979

2,000,000

(b) New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Princeton

University,

Series

2025A,

(Mandatory

Put

7/01/35)

5.000 07/01/64

2,390,717

330,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Rider

University,

Series 2017F

3.750 07/01/37

252,220

3,830,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Rider

University,

Series 2017F

4.000 07/01/42

2,748,666

1,200,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Seton

Hall

University,

Refunding

Series

2015C

5.000 07/01/35

1,201,152

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NXJ

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

775,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Seton

Hall

University,

Refunding

Series

2017D

3.500 %

07/01/44

$

647,241

515,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Seton

Hall

University,

Series

2013D

5.000 07/01/38

515,424

1,935,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Seton

Hall

University,

Series

2013D

5.000 07/01/43

1,935,577

1,980,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Seton

Hall

University,

Series

2016C

3.000 07/01/46

1,473,597

1,060,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Stevens

Institute

of

Technology,

Series

2017A

5.000 07/01/37

1,083,313

2,280,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Stevens

Institute

of

Technology,

Series

2017A

5.000 07/01/42

2,309,130

1,050,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Stevens

Institute

of

Technology,

Series

2017A

4.000 07/01/47

957,455

3,160,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Stevens

Institute

of

Technology,

Series

2017A

5.000 07/01/47

3,176,102

4,560,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

William

Paterson

University,

Series

2015C

5.000 07/01/40

4,563,625

2,000,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

William

Paterson

University,

Series

2017B

-

AGM

Insured

5.000 07/01/42

2,033,310

2,295,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

William

Paterson

University,

Series

2017B

-

AGM

Insured

5.000 07/01/47

2,314,433

875,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Senior

Series

2021B,

(AMT)

2.500 12/01/40

848,022

8,295,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Senior

Series

2022B,

(AMT)

4.000 12/01/41

8,398,111

365,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2018A,

(AMT)

3.750 12/01/30

367,331

370,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2018A,

(AMT)

4.000 12/01/32

370,142

290,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2018A,

(AMT)

4.000 12/01/33

290,091

315,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2018A,

(AMT)

4.000 12/01/35

315,049

1,180,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2023B,

(AMT)

4.000 12/01/44

1,162,320

1,000,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2024B,

(AMT)

4.250 12/01/45

1,033,511

2,650,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2025-1B,

(AMT)

4.500 12/01/45

2,777,845

2,430,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Subordinate

Series

2021C,

(AMT)

3.250 12/01/51

1,757,200

2,500,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Subordinate

Series

2022C,

(AMT)

5.000 12/01/52

2,500,647

365,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Senior

Series

2019B,

(AMT)

3.250 12/01/39

359,960

465,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Senior

Series

2020B,

(AMT)

3.500 12/01/39

461,215

6,855,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Subordinate

Series

2017-C,

(AMT)

4.250 12/01/47

6,440,935

4,795,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Subordinate

Series

2019C,

(AMT)

3.625 12/01/49

3,712,094

1,000,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Subordinate

Series

2020C,

(AMT)

4.250 12/01/50

877,920

1,060,000

New

Jersey

Institute

of

Technology,

New

Jersey,

General

Obligation

Bonds,

Series

2025A

-

BAM

Insured

5.000 07/01/45

1,159,359

3,430,000

New

Jersey

Institute

of

Technology,

New

Jersey,

General

Obligation

Bonds,

Series

2025A

-

BAM

Insured

5.250 07/01/50

3,730,983

2,865,000

New

Jersey

Institute

of

Technology,

New

Jersey,

General

Obligation

Bonds,

Series

2025A

-

BAM

Insured

5.250 07/01/55

3,092,220

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

1,560,000

Passaic

County

Improvement

Authority,

New

Jersey,

Charter

School

Revenue

Bonds,

Community

Charter

School

of

Paterson,

Series

2024A

5.000 %

01/01/55

$

1,503,143

1,000,000

Passaic

County

Improvement

Authority,

New

Jersey,

Charter

School

Revenue

Bonds,

Paterson

Arts

&

Science

Charter

School,

Series

2023

5.500 07/01/58

1,021,170

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

106,720,423

HEALTH

CARE

-

14.9%

(8.8%

of

Total

Investments)

2,880,000

New

Jersey

Health

Care

Facilities

Authority,

Revenue

Bonds,

Atlanticare

Health

System

Obligated

Group

Issue,

Series

2021

2.375 07/01/46

1,905,211

1,215,000

New

Jersey

Health

Care

Facilities

Authority,

Revenue

Bonds,

Atlanticare

Health

System

Obligated

Group

Issue,

Series

2021

3.000 07/01/51

910,924

85,000

New

Jersey

Health

Care

Facilities

Finance

Authority,

Revenue

Bonds,

AHS

Hospital

Corporation,

Series

2008A

5.000 07/01/27

85,176

1,935,000

(a) New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

AHS

Hospital

Corporation,

Refunding

Series

2016

4.000 07/01/41

1,938,986

700,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Hackensack

Meridian

Health

Obligated

Group,

Refunding

Series

2017A

5.000 07/01/28

726,048

4,140,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Hackensack

Meridian

Health

Obligated

Group,

Refunding

Series

2017A

5.000 07/01/57

4,175,217

210,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Hunterdon

Medical

Center,

Refunding

Series

2014A

4.000 07/01/45

202,579

13,810,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Inspira

Health

Obligated

Group

Issue,

Series

2017A

5.000 07/01/42

14,065,852

6,220,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Inspira

Health

Obligated

Group

Issue,

Series

2024A

4.125 07/01/54

5,736,471

5,880,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Inspira

Health

Obligated

Group

Issue,

Series

2024A

5.250 07/01/54

6,260,517

830,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Princeton

HealthCare

System,

Series

2016A

5.000 07/01/32

836,922

1,055,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Princeton

HealthCare

System,

Series

2016A

5.000 07/01/33

1,063,665

1,370,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Princeton

HealthCare

System,

Series

2016A

5.000 07/01/34

1,381,174

2,150,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

RWJ

Barnabas

Health

Obligated

Group,

Refunding

Series

2016A

5.000 07/01/43

2,162,766

375,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

RWJ

Barnabas

Health

Obligated

Group,

Refunding

Series

2024A

4.250 07/01/54

355,679

1,000,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

RWJ

Barnabas

Health

Obligated

Group,

Refunding

Series

2024B

5.000 07/01/36

1,171,044

2,055,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

RWJ

Barnabas

Health

Obligated

Group,

Series

2021A

4.000 07/01/45

2,046,687

2,155,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

RWJ

Barnabas

Health

Obligated

Group,

Series

2021A

3.000 07/01/51

1,655,602

1,755,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

RWJ

Barnabas

Health

Obligated

Group,

Series

2021A

4.000 07/01/51

1,683,743

1,600,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Saint

Joseph's

Healthcare

System

Obligated

Group

Issue,

Refunding

Series

2016

3.000 07/01/32

1,525,100

1,135,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Saint

Joseph's

Healthcare

System

Obligated

Group

Issue,

Refunding

Series

2016

4.000 07/01/34

1,136,151

2,100,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Saint

Joseph's

Healthcare

System

Obligated

Group

Issue,

Refunding

Series

2016

5.000 07/01/35

2,106,660

4,265,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Saint

Joseph's

Healthcare

System

Obligated

Group

Issue,

Refunding

Series

2016

5.000 07/01/36

4,276,563

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NXJ

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

3,085,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Saint

Joseph's

Healthcare

System

Obligated

Group

Issue,

Refunding

Series

2016

5.000 %

07/01/41

$

3,091,127

6,595,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Saint

Joseph's

Healthcare

System

Obligated

Group

Issue,

Refunding

Series

2016

4.000 07/01/48

5,764,808

3,875,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

University

Hospital

Issue,

Refunding

Series

2015A

-

AGM

Insured

4.125 07/01/38

3,876,889

3,915,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

University

Hospital

Issue,

Refunding

Series

2015A

-

AGM

Insured

5.000 07/01/46

3,921,493

1,500,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Valley

Health

System

Obligated

Group,

Series

2019

4.000 07/01/44

1,430,435

5,350,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Valley

Health

System

Obligated

Group,

Series

2019

3.000 07/01/49

4,236,500

TOTAL

HEALTH

CARE

79,729,989

HOUSING/MULTIFAMILY

-

7.4%

(4.4%

of

Total

Investments)

450,000

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

Provident

Group

-

Kean

Properties

LLC

-

Kean

University

Student

Housing

Project,

Series

2017A

5.000 07/01/47

435,629

1,400,000

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

Provident

Group

-

Kean

Properties

LLC

-

Kean

University

Student

Housing

Project,

Series

2017A

5.000 01/01/50

1,323,821

1,900,000

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

Provident

Group

-

Rowan

Properties

LLC

-

Rowan

University

Student

Housing

Project,

Series

2015A

5.000 01/01/48

1,891,051

6,575,000

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

West

Campus

Housing

LLC

-

New

Jersey

City

University

Student

Housing

Project,

Series

2015

5.000 07/01/47

5,987,791

3,277,596

New

Jersey

Housing

&

Mortgage

Finance

Agency,

Multifamily

Conduit

Revenue

Bonds,

Cherry

Garden

Apartments

Project,

Series

2021B

2.375 01/01/39

2,722,773

1,729,098

New

Jersey

Housing

&

Mortgage

Finance

Agency,

Multifamily

Conduit

Revenue

Bonds,

Riverview

Towers

Apartments,

Series

2024B

5.250 12/20/65

1,907,964

3,500,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Conduit

Revenue

Bonds,

Forest

Hill

House,

Series

2024A-1

5.000 01/20/66

3,598,430

1,785,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Conduit

Revenue

Bonds,

Montgomery

Gateway

Apartments,

Series

2025A

4.550 05/01/41

1,907,681

4,320,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2015A

4.000 11/01/45

4,187,173

2,000,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2017D,

(AMT)

3.900 11/01/32

2,001,780

1,750,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2017D,

(AMT)

4.250 11/01/37

1,751,502

1,150,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2020A

2.300 11/01/40

948,387

500,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2020A

2.450 11/01/45

362,569

1,000,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2020A

2.550 11/01/50

667,416

1,000,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2020A

2.625 11/01/56

648,863

1,500,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2021A

2.250 11/01/36

1,307,600

1,270,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2021A

2.650 11/01/46

933,002

1,445,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2021A

2.700 11/01/51

992,668

1,310,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2021A

2.750 11/01/56

869,200

1,000,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2023C,

(AMT)

5.000 11/01/38

1,045,972

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

1,000,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2023E-1

4.350 %

05/01/45

$

1,013,736

1,500,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2023E-1

4.550 05/01/55

1,502,084

1,175,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2023E-1

4.600 05/01/60

1,172,819

690,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2024A

4.500 05/01/50

680,773

TOTAL

HOUSING/MULTIFAMILY

39,860,684

HOUSING/SINGLE

FAMILY

-

13.1%

(7.7%

of

Total

Investments)

5,280,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2018A

3.600 04/01/33

5,316,774

3,025,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2018A

3.750 10/01/35

3,040,858

2,840,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2018B,

(AMT)

3.800 10/01/32

2,854,681

4,585,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2019C

3.500 10/01/34

4,618,908

4,835,000

(a) New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2019C,

(UB)

3.850 10/01/39

4,855,700

2,780,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2019C

3.950 10/01/44

2,782,939

4,810,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2020E

2.050 10/01/35

4,197,430

6,235,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2020E

2.250 10/01/40

5,085,296

3,210,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2020E

2.400 10/01/45

2,418,856

1,000,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2024K

4.150 10/01/39

1,022,915

1,335,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2024K

4.550 10/01/44

1,359,490

1,500,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2024K

4.700 10/01/50

1,504,477

5,995,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2021H

1.900 10/01/36

5,084,456

4,625,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2021H

2.150 10/01/41

3,560,757

8,070,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2021H

2.400 04/01/52

5,474,372

4,040,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2022I

4.500 10/01/42

4,162,432

2,980,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2022I

4.600 10/01/46

3,004,641

1,000,000

(a) New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2023J,

(UB)

4.150 10/01/38

1,033,002

2,300,000

(a) New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2023J,

(UB)

4.500 10/01/43

2,331,843

3,850,000

(a) New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2023J,

(UB)

4.700 10/01/48

3,862,863

2,455,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2025M

5.050 10/01/45

2,543,973

TOTAL

HOUSING/SINGLE

FAMILY

70,116,663

INDUSTRIALS

-

0.6%

(0.4%

of

Total

Investments)

1,000,000

New

Jersey

Economic

Development

Authority,

Energy

Facilities

Revenue

Bonds,

UMM

Energy

Partners,

LLC

Project,

Series

2012A,

(AMT)

4.750 06/15/32

1,000,718

1,225,000

New

Jersey

Economic

Development

Authority,

Energy

Facilities

Revenue

Bonds,

UMM

Energy

Partners,

LLC

Project,

Series

2012A,

(AMT)

5.125 06/15/43

1,225,277

1,000,000

(c) New

Jersey

Economic

Development

Authority,

New

Jersey,

Dock

and

Wharf

Facility

Revenue

Bonds,

Repauno

Port

&

Rail

Terminal

Project,

Series

2025,

(AMT)

6.625 01/01/45

1,050,085

TOTAL

INDUSTRIALS

3,276,080

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NXJ

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

CARE

-

0.8%

(0.4%

of

Total

Investments)

$

1,110,000

New

Jersey

Economic

Development

Authority,

Fixed

Rate

Revenue

Bonds,

Lions

Gate

Project,

Series

2014

5.250 %

01/01/44

$

1,100,654

2,683,235

(c) New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

White

Horse

HMT

Urban

Renewal

LLC

Project,

Series

2020

5.000 01/01/40

1,906,791

1,410,000

(c) New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Village

Drive

Healthcare

Urban

Renewal

LLC,

Series

2018

5.750 10/01/38

1,038,136

TOTAL

LONG-TERM

CARE

4,045,581

TAX

OBLIGATION/GENERAL

-

21.5%

(12.7%

of

Total

Investments)

1,780,000

Bridgewater

&

Raritan

School

District,

Somerset

County,

New

Jersey,

General

Obligation

Bonds,

Series

2024

4.000 07/15/45

1,781,521

2,920,000

Cumberland

County

Improvement

Authority,

New

Jersey,

Guaranteed

Lease

Revenue

Bonds,

County

Correctional

Facility

Project,

Series

2018

-

BAM

Insured

4.000 10/01/43

2,939,670

1,470,000

Cumberland

County,

New

Jersey,

General

Obligation

Bonds,

Series

2021

2.000 05/15/30

1,410,439

1,475,000

Cumberland

County,

New

Jersey,

General

Obligation

Bonds,

Series

2021

2.000 05/15/31

1,393,224

600,000

Essex

County

Improvement

Authority,

New

Jersey,

Lease

Revenue

Bonds,

Essex

County

Family

Court

Building

Projects,

County

Guaranteed

Series

2025

5.000 03/17/26

600,596

2,000,000

Essex

County,

New

Jersey,

General

Obligation

Bonds,

Bond

Anticipation

Notes,

Series

2025

4.000 07/08/26

2,011,595

3,000,000

Ewing

Township,

Mercer

County,

New

Jersey,

General

Obligation

Bonds,

Bond

Anticipation

Notes

Series

2025

4.000 12/22/26

3,042,132

1,000,000

Freehold

Township

Board

of

Education,

Monmouth

County,

New

Jersey,

General

Obligation

Bonds,

School

Series

2025

4.000 08/15/41

1,046,384

625,000

Gloucester

County

Improvement

Authority,

New

Jersey,

General

Obligation

Loan

Revenue

Bonds,

Health

Sciences

Educational

Facilities

Projects

Series

2024

5.000 03/01/32

724,643

500,000

Gloucester

County

Improvement

Authority,

New

Jersey,

General

Obligation

Loan

Revenue

Bonds,

Health

Sciences

Educational

Facilities

Projects

Series

2024

5.000 03/01/36

586,064

680,000

Hamilton

Township,

Mercer

County

Board

of

Education,

New

Jersey,

General

Obligation

Bonds,

Series

2017

3.250 12/15/38

680,084

1,340,000

Harrison,

New

Jersey,

General

Obligation

Bonds,

Parking

Utility

Series

2018

-

BAM

Insured

3.125 03/01/31

1,354,266

1,110,000

Harrison,

New

Jersey,

General

Obligation

Bonds,

Parking

Utility

Series

2018

-

BAM

Insured

3.250 03/01/32

1,122,382

1,255,000

Harrison,

New

Jersey,

General

Obligation

Bonds,

Parking

Utility

Series

2018

-

BAM

Insured

3.500 03/01/36

1,268,486

1,040,000

Hudson

County

Improvement

Authority,

New

Jersey,

County

Guaranteed

Governmental

Loan

Revenue

Bonds,

Guttenberg

General

Obligation

Bond

Project,

Series

2018

5.000 08/01/42

1,041,040

2,000,000

Hudson

County

Improvement

Authority,

New

Jersey,

County

Secured

Lease

Revenue

Bonds,

Hudson

County

Courthouse

Project,

Series

2020

4.000 10/01/46

1,982,840

2,390,000

Hudson

County

Improvement

Authority,

New

Jersey,

County

Secured

Lease

Revenue

Bonds,

Hudson

County

Courthouse

Project,

Series

2020

4.000 10/01/51

2,269,537

4,235,000

Hudson

County

Improvement

Authority,

New

Jersey,

County

Secured

Lease

Revenue

Bonds,

Hudson

County

Vocational

Technical

Schools

Project,

Series

2016

5.000 05/01/46

4,241,980

9,775,000

Hudson

County

Improvement

Authority,

New

Jersey,

County

Secured

Lease

Revenue

Bonds,

Hudson

County

Vocational

Technical

Schools

Project,

Series

2016

5.250 05/01/51

9,789,467

650,000

Jersey

City

Board

of

Education,

Hudson

County,

New

Jersey,

General

Obligation

Bonds,

School

Energy

Savings

Refunding

Series

2023

-

AGM

Insured

4.000 08/15/40

683,002

500,000

Jersey

City

Board

of

Education,

Hudson

County,

New

Jersey,

General

Obligation

Bonds,

School

Energy

Savings

Refunding

Series

2023

-

AGM

Insured

4.000 08/15/41

520,035

880,000

Jersey

City

Board

of

Education,

Hudson

County,

New

Jersey,

General

Obligation

Bonds,

School

Energy

Savings

Refunding

Series

2023

-

AGM

Insured

4.125 08/15/42

911,418

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

5,000,000

Jersey

City,

New

Jersey,

General

Obligation

Bonds,

General

Improvement

Series

2022A

3.000 %

02/15/37

$

4,853,622

1,000,000

Jersey

City,

New

Jersey,

General

Obligation

Bonds,

Refunding

General

Improvement

Series

2017A

5.000 11/01/29

1,046,003

515,000

Jersey

City,

New

Jersey,

General

Obligation

Bonds,

Refunding

General

Improvement

Series

2017A

5.000 11/01/31

537,675

440,000

Jersey

City,

New

Jersey,

General

Obligation

Bonds,

Refunding

General

Improvement

Series

2017A

5.000 11/01/33

457,721

1,850,000

Madison

Borough

Board

of

Education,

Morris

County,

New

Jersey,

General

Obligation

Bonds,

School

Series

2024

1.000 08/15/30

1,716,079

1,585,000

Madison

Borough

Board

of

Education,

Morris

County,

New

Jersey,

General

Obligation

Bonds,

School

Series

2024

4.000 08/15/42

1,621,572

2,255,000

Manalapan-Englishtown

Regional

Board

of

Education,

New

Jersey,

General

Obligation

Bonds,

School

Series

2025

4.000 07/15/43

2,304,913

5,195,000

Manalapan-Englishtown

Regional

Board

of

Education,

New

Jersey,

General

Obligation

Bonds,

School

Series

2025

4.000 07/15/44

5,260,081

1,000,000

Monmouth

County

Improvement

Authority,

New

Jersey,

Governmental

Pooled

Loan

Revenue

Bonds,

Series

2021A

3.000 03/01/36

1,008,252

1,825,000

Monmouth

County

Improvement

Authority,

New

Jersey,

Governmental

Pooled

Loan

Revenue

Bonds,

Series

2025

5.000 12/01/32

2,145,779

1,000,000

Monmouth

County

Improvement

Authority,

New

Jersey,

Governmental

Pooled

Loan

Revenue

Bonds,

Series

2025

5.000 12/01/35

1,222,531

1,500,000

Montclair

Township

Board

of

Education,

Essex

County,

New

Jersey,

General

Obligation

Bonds,

School

Series

2025

4.250 08/01/44

1,530,290

35,000

Montclair

Township

Board

of

Education,

Essex

County,

New

Jersey,

General

Obligation

Bonds,

School

Series

2025

4.375 08/01/45

35,632

1,110,000

New

Brunswick,

New

Jersey,

General

Obligation

Bonds,

Cultural

Center

Project,

Series

2017

-

AGM

Insured

4.000 09/15/44

1,114,750

2,000,000

New

Jersey

State,

General

Obligation

Bonds,

Emergency

Series

2020A

5.000 06/01/27

2,075,485

3,180,000

New

Jersey

State,

General

Obligation

Bonds,

Emergency

Series

2020A

4.000 06/01/31

3,466,079

3,940,000

New

Jersey

State,

General

Obligation

Bonds,

Emergency

Series

2020A

3.000 06/01/32

4,064,126

3,280,000

New

Jersey

State,

General

Obligation

Bonds,

Various

Purpose

Series

2020

2.250 06/01/35

3,061,930

1,465,000

New

Jersey

State,

General

Obligation

Bonds,

Various

Purpose

Series

2020

5.000 06/01/40

1,508,963

1,000,000

New

Jersey

State,

General

Obligation

Bonds,

Various

Purpose

Series

2021

-

BAM

Insured

2.000 06/01/36

884,663

750,000

Newark

Board

of

Education,

Essex

County,

New

Jersey,

General

Obligation

Bonds,

School

Energy

Savings

Series

2021

-

BAM

Insured

3.000 07/15/38

701,388

755,000

Newark

Board

of

Education,

Essex

County,

New

Jersey,

General

Obligation

Bonds,

School

Energy

Savings

Series

2021

-

BAM

Insured

3.000 07/15/39

695,863

1,000,000

Newark

Board

of

Education,

Essex

County,

New

Jersey,

General

Obligation

Bonds,

School

Energy

Savings

Series

2021

-

BAM

Insured

3.000 07/15/40

910,652

2,400,000

Newark,

Essex

County,

New

Jersey,

Mass

Transit

Access

Tax

Revenue

Bonds,

Mulberry

Pedestrian

Bridge

Redevelopment

Project,

Series

2022

-

AGM

Insured

6.000 11/15/62

2,663,159

1,290,000

Newark,

New

Jersey,

General

Obligation

Bonds,

Refunding

Qualified General

Improvement

Series

2025A

5.000 07/15/26

1,301,486

2,937,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

4.000 07/01/33

3,008,014

2,032,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

4.000 07/01/35

2,066,878

2,000,000

Rahway,

New

Jersey,

General

Obligation

Bonds,

Bond

Anticipation

Note

Series

2025

4.000 07/22/26

2,013,076

1,000,000

Sayreville

School

District,

Middlesex

County,

New

Jersey,

General

Obligation

Bonds,

School

Series

2022

-

BAM

Insured

4.000 01/15/41

1,038,639

2,000,000

South

Brunswick

Township,

Middlesex

County,

New

Jersey,

General

Obligation

Bonds,

BAN

Series

2025A

4.000 10/19/26

2,019,981

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NXJ

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

4,035,000

Tenafly

Board

of

Education,

Bergen

County,

New

Jersey,

General

Obligation

Bonds,

Series

2024

3.000 %

08/01/36

$

4,054,100

1,000,000

Toms

River

Board

of

Education,

Ocean

County,

New

Jersey,

General

Obligation

Bonds,

Regional

Schools

Series

2019

2.000 07/15/26

993,404

4,620,000

Union

County

Utilities

Authority,

New

Jersey,

Resource

Recovery

Facility

Lease

Revenue

Bonds,

Covantan

Union

Inc.

Lessee,

Refunding

Series

2011B,

(AMT)

5.250 12/01/31

4,629,768

2,515,000

Union

County

Utilities

Authority,

New

Jersey,

Solid

Waste

System

County

Deficiency

Revenue

Bonds,

Series

2011A

5.000 06/15/41

2,517,240

590,000

Vineland

Board

of

Education,

Cumberland

County,

New

Jersey,

General

Obligation

Bonds,

Energy

Savings

Refunding

School

Series

2025

-

BAM

Insured

5.000 07/01/40

676,801

500,000

Vineland

Board

of

Education,

Cumberland

County,

New

Jersey,

General

Obligation

Bonds,

Energy

Savings

Refunding

School

Series

2025

-

BAM

Insured

5.000 07/01/41

562,475

750,000

Vineland

Board

of

Education,

Cumberland

County,

New

Jersey,

General

Obligation

Bonds,

Energy

Savings

Refunding

School

Series

2025

-

BAM

Insured

5.000 07/01/42

834,431

700,000

Vineland

Board

of

Education,

Cumberland

County,

New

Jersey,

General

Obligation

Bonds,

Energy

Savings

Refunding

School

Series

2025

-

BAM

Insured

4.500 07/01/43

737,136

700,000

Vineland

Board

of

Education,

Cumberland

County,

New

Jersey,

General

Obligation

Bonds,

Energy

Savings

Refunding

School

Series

2025

-

BAM

Insured

4.500 07/01/44

731,058

1,515,000

Washington

Township

Board

of

Education,

Mercer

County,

New

Jersey,

General

Obligation

Bonds,

Series

2005

-

AGM

Insured

5.250 01/01/27

1,552,541

TOTAL

TAX

OBLIGATION/GENERAL

115,025,041

TAX

OBLIGATION/LIMITED

-

47.4%

(28.1%

of

Total

Investments)

4,500,000

Bergen

County

Improvement

Authority,

New

Jersey,

County

Guaranteed

Governmental

Pooled

Project

Notes,

Series

2025A

4.000 05/21/26

4,516,421

2,365,000

Bergen

County

Improvement

Authority,

New

Jersey,

County

Guaranteed

Revenue

Bonds,

Bergen

New

Bridge

Medical

Center

Project,

Series

2022

5.000 08/01/47

2,495,366

3,775,000

Bergen

County

Improvement

Authority,

New

Jersey,

Guaranteed

Lease

Revenue

Bonds,

County

Administration

Complex

Project,

Series

2005

5.000 11/15/26

3,851,808

3,065,000

Bergen

County

Improvement

Authority,

New

Jersey,

Lease

Revenue

Bonds,

County

Courthouse

Project,

County

Guaranteed

Series

2024

5.000 06/01/49

3,304,887

2,000,000

Bergen

County

Improvement

Authority,

New

Jersey,

Lease

Revenue

Bonds,

County

Courthouse

Project,

County

Guaranteed

Series

2024

5.000 06/01/54

2,145,255

2,605,000

Burlington

County

Bridge

Commission,

New

Jersey,

Governmental

Leasing

Program

Revenue

Bonds,

Notes

Series

2025C-2

4.000 07/31/26

2,620,847

440,000

Camden

County

Improvement

Authority,

New

Jersey,

County

Guaranteed

Loan

Revenue

Bonds,

Refunding

Capital

Program

Series

2024B

5.000 01/15/33

516,186

475,000

Camden

County

Improvement

Authority,

New

Jersey,

County

Guaranteed

Loan

Revenue

Bonds,

Refunding

Capital

Program

Series

2024B

5.000 01/15/36

558,380

500,000

Camden

County

Improvement

Authority,

New

Jersey,

County

Guaranteed

Loan

Revenue

Bonds,

Refunding

Capital

Program

Series

2024B

5.000 01/15/37

583,294

1,000,000

Casino

Reinvestement

Development

Authority,

New

Jersey,

Luxury

Tax

Revenue

Bonds,

Series

2024A

5.000 11/01/40

1,110,137

1,005,000

Casino

Reinvestement

Development

Authority,

New

Jersey,

Luxury

Tax

Revenue

Bonds,

Series

2024A

4.000 11/01/44

986,853

560,000

Gloucester

County

Improvement

Authority,

New

Jersey,

Revenue

Bonds,

County

Guaranteed

Loan

Capital

Program,

Refunding

Series

2025

5.000 04/01/26

561,265

590,000

Gloucester

County

Improvement

Authority,

New

Jersey,

Revenue

Bonds,

County

Guaranteed

Loan

Capital

Program,

Refunding

Series

2025

5.000 04/01/27

608,167

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

1,965,000

Middlesex

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Revenue

Bonds,

New

Jersey

Health

+

Life

Science

Exchange

-

Project

Series

2023A

5.000 %

08/15/49

$

2,083,921

8,000,000

(a) Middlesex

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Revenue

Bonds,

New

Jersey

Health

+

Life

Science

Exchange

-

Project

Series

2023A,

(UB)

4.000 08/15/53

7,673,686

5,615,000

Middlesex

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Revenue

Bonds,

New

Jersey

Health

+

Life

Science

Exchange

-

Project

Series

2023A

5.000 08/15/53

5,902,305

7,785,000

(a) Middlesex

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Revenue

Bonds,

New

Jersey

Health

+

Life

Science

Exchange

-

Project

Series

2023A,

(UB)

5.000 08/15/53

8,183,339

5,445,000

New

Jersey

Economic

Development

Authority,

Lease

Revenue

Bonds,

State

House

Project,

Series

2017B

4.500 06/15/40

5,566,737

2,400,000

New

Jersey

Economic

Development

Authority,

New

Jersey,

Transit

Transportation

Project

Revenue

Bonds,

Portal

North

Bridge

Project

Series

2022A

5.250 11/01/47

2,554,054

1,685,000

New

Jersey

Economic

Development

Authority,

New

Jersey,

Transit

Transportation

Project

Revenue

Bonds,

Portal

North

Bridge

Project

Series

2022A

5.000 11/01/52

1,747,228

5,675,000

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

Motor

Vehicle

Surcharge,

Refunding

Subordinate

Series

2017A

3.375 07/01/30

5,683,754

665,364

New

Jersey

Economic

Development

Authority,

Revenue

Refunding

Bonds,

Kapkowski

Road

Landfill

Project,

Series

2002

6.500 04/01/28

686,616

1,300,000

New

Jersey

Economic

Development

Authority,

School

Facilities

Construction

Bonds,

Social

Series

2021QQQ

5.000 06/15/31

1,458,011

1,000,000

New

Jersey

Economic

Development

Authority,

School

Facilities

Construction

Bonds,

Social

Series

2021QQQ

5.000 06/15/32

1,117,680

6,495,000

(a) New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Higher

Education

Capital

Improvement

Fund

Series

2023A,

(UB)

4.625 09/01/48

6,639,939

590,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Higher

Education

Capital

Improvement

Fund

Series

2023A

5.250 09/01/53

623,984

1,140,000

New

Jersey

Transportation

Trust

Fund

Authority,

Federal

Highway

Reimbursement

Revenue

Notes,

Series

2016A-1

5.000 06/15/29

1,148,564

655,000

New

Jersey

Transportation

Trust

Fund

Authority,

Federal

Highway

Reimbursement

Revenue

Notes,

Series

2016A-1

5.000 06/15/30

659,762

2,000,000

New

Jersey

Transportation

Trust

Fund

Authority,

Federal

Highway

Reimbursement

Revenue

Notes,

Series

2018A

5.000 06/15/31

2,014,211

3,495,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2019AA

5.000 06/15/46

3,585,178

1,250,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2022BB

3.000 06/15/50

955,766

260,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2022BB

4.000 06/15/50

242,254

3,750,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2022CC

5.000 06/15/42

4,095,525

1,000,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2023AA

4.250 06/15/44

1,017,024

31,175,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Capital

Appreciation

Series

2010A

0.000 12/15/30

27,570,310

37,000,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Refunding

Series

2006C

-

AGM

Insured

0.000 12/15/32

30,932,396

37,945,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Refunding

Series

2006C

-

AGM

Insured

0.000 12/15/33

30,653,394

5,160,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Refunding

Series

2006C

-

AGM

Insured

0.000 12/15/34

4,015,048

1,150,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2018A

5.000 12/15/35

1,221,582

440,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2018A

5.000 12/15/36

465,752

4,950,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2019A

4.000 12/15/39

5,032,096

6,845,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2019BB

3.500 06/15/46

5,940,585

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NXJ

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

2,720,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2019BB

4.000 %

06/15/50

$

2,534,347

4,425,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2020AA

5.000 06/15/45

4,629,992

2,045,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2020AA

3.000 06/15/50

1,563,633

1,940,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2024AA

4.000 06/15/42

1,969,556

3,170,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2024CC

4.125 06/15/55

2,990,227

600,000

Newark

Parking

Authority,

Essex

County,

New

Jersey,

Lease

Revenue

Bonds,

Parking

Facility/Office

Project

Series

2023

-

AGM

Insured

5.250 02/01/43

633,089

1,250,000

Newark

Parking

Authority,

Essex

County,

New

Jersey,

Lease

Revenue

Bonds,

Parking

Facility/Office

Project

Series

2023

-

AGM

Insured

5.500 02/01/51

1,292,908

1,140,000

Passaic

County

Improvement

Authority,

New

Jersey,

Guaranteed

Revenue

Bonds,

Senior

Housing

Project

Series

2024

4.000 11/01/46

1,143,543

750,000

Passaic

County

Improvement

Authority,

New

Jersey,

Guaranteed

Revenue

Bonds,

Senior

Housing

Project

Series

2024

4.125 11/01/56

736,441

375,000

Passaic

County

Improvement

Authority,

New

Jersey,

Lease

Revenue

Bonds,

Little

Falls

Board

of

Education

Project

Series

2025

5.000 09/15/36

437,357

3,790,000

Passaic

County

Improvement

Authority,

New

Jersey,

Lease

Revenue

Bonds,

Preakness

Healthcare

Center

Expansion

Project,

Refunding

Series

2015

3.750 05/01/36

3,791,873

3,550,000

Passaic

County

Improvement

Authority,

New

Jersey,

Lease

Revenue

Bonds,

Preakness

Healthcare

Center

Expansion

Project,

Series

2012

3.500 05/01/35

3,551,372

909,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

4.750 07/01/53

886,387

1,783,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

5.000 07/01/58

1,750,065

2,899,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.329 07/01/40

2,904,996

1,059,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.784 07/01/58

1,026,078

1,470,000

Union

County

Improvement

Authority,

New

Jersey,

County

Guaranteed

Lease

Revenue

Bonds,

Union

County

Administration

Complex

Project,

Series

2024

4.125 04/15/54

1,443,116

1,420,000

Union

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Bonds,

Juvenile

Detention

Center

Facility

Project,

Refunding

Series

2015A

5.500 05/01/28

1,523,240

1,425,000

Union

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Bonds,

Juvenile

Detention

Center

Facility

Project,

Refunding

Series

2015A

5.500 05/01/29

1,575,026

1,000,000

Union

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Bonds,

Juvenile

Detention

Center

Facility

Project,

Refunding

Series

2015A

5.500 05/01/30

1,136,398

1,830,000

Union

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Bonds,

Juvenile

Detention

Center

Facility

Project,

Refunding

Series

2015A

5.500 05/01/31

2,131,761

1,915,000

Union

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Bonds,

Juvenile

Detention

Center

Facility

Project,

Refunding

Series

2015A

5.500 05/01/32

2,281,512

1,990,000

Union

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Bonds,

Juvenile

Detention

Center

Facility

Project,

Refunding

Series

2015A

5.500 05/01/33

2,416,273

2,075,000

Union

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Bonds,

Juvenile

Detention

Center

Facility

Project,

Refunding

Series

2015A

5.500 05/01/34

2,563,182

12,510,000

Union

County

Improvement

Authority,

New

Jersey,

Lease

Revenue

Bonds,

Plainfield

-

Park

Madison

Redevelopment

Project,

Refunding

Series

2013A

5.000 03/01/34

13,888,423

TOTAL

TAX

OBLIGATION/LIMITED

254,130,362

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

-

30.1%

(17.8%

of

Total

Investments)

$

1,000,000

Delaware

River

and

Bay

Authority,

Delaware

and

New

Jersey,

Revenue

Bonds,

Refunding

Series

2024B

5.000 %

01/01/42

$

1,127,027

1,000,000

Delaware

River

and

Bay

Authority,

Delaware

and

New

Jersey,

Revenue

Bonds,

Refunding

Series

2024B

5.000 01/01/43

1,114,721

1,075,000

Delaware

River

and

Bay

Authority,

Delaware

and

New

Jersey,

Revenue

Bonds,

Series

2019

4.000 01/01/44

1,078,402

665,000

Delaware

River

and

Bay

Authority,

Delaware

and

New

Jersey,

Revenue

Bonds,

Series

2024A

5.000 01/01/49

709,652

1,000,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Refunding

Series

2015

-

BAM

Insured

4.000 07/01/34

1,000,959

2,820,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Refunding

Series

2015

-

BAM

Insured

4.000 07/01/35

2,822,416

2,005,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Refunding

Series

2019B

5.000 07/01/28

2,135,764

1,520,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Refunding

Series

2019B

5.000 07/01/29

1,659,111

3,320,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Series

2017

5.000 07/01/42

3,391,504

10,210,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Series

2017

5.000 07/01/47

10,325,453

1,050,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Series

2019A

5.000 07/01/28

1,118,480

1,350,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Series

2019A

5.000 07/01/29

1,473,553

1,015,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Series

2019A

5.000 07/01/30

1,105,235

4,140,000

Delaware

River

Port

Authority,

New

Jersey

and

Pennsylvania,

Revenue

Bonds,

Refunding

Series

2025

5.000 01/01/37

4,838,834

2,400,000

Delaware

River

Port

Authority,

New

Jersey

and

Pennsylvania,

Revenue

Bonds,

Series

2018A

5.000 01/01/37

2,545,586

6,355,000

New

Jersey

Economic

Development

Authority,

Private

Activity

Bonds,

The

Goethals

Bridge

Replacement

Project,

Series

2013,

(AMT)

5.375 01/01/43

6,363,247

7,815,000

New

Jersey

Economic

Development

Authority,

Private

Activity

Bonds,

The

Goethals

Bridge

Replacement

Project,

Series

2013,

(AMT)

5.625 01/01/52

7,822,164

1,975,000

New

Jersey

Economic

Development

Authority,

Special

Facilities

Revenue

Bonds,

Continental

Airlines

Inc.,

Series

1999,

(AMT)

5.250 09/15/29

1,978,876

2,250,000

New

Jersey

Economic

Development

Authority,

Special

Facilities

Revenue

Bonds,

Continental

Airlines

Inc.,

Series

2000A

&

2000B,

(AMT)

5.625 11/15/30

2,258,739

5,215,000

New

Jersey

Economic

Development

Authority,

Special

Facility

Revenue

Bonds,

Port

Newark

Container

Terminal

LLC

Project,

Refunding

Series

2017,

(AMT)

5.000 10/01/37

5,319,045

9,110,000

New

Jersey

Economic

Development

Authority,

Special

Facility

Revenue

Bonds,

Port

Newark

Container

Terminal

LLC

Project,

Refunding

Series

2017,

(AMT)

5.000 10/01/47

9,125,011

2,565,000

New

Jersey

Turnpike

Authority,

Revenue

Bonds,

Series

2005A

-

AGM

Insured

5.250 01/01/29

2,792,185

2,000,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2021A

4.000 01/01/42

2,046,654

2,490,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2021A

4.000 01/01/51

2,419,236

1,230,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2022A

4.000 01/01/42

1,266,687

2,500,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2022A

4.000 01/01/43

2,553,282

7,500,000

(a) New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2022B,

(UB)

5.250 01/01/52

7,969,201

8,500,000

(a) New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2024B,

(UB)

4.125 01/01/54

8,307,670

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NXJ

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

3,000,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2024B

5.250 %

01/01/54

$

3,201,096

5,000,000

(a) New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2025A,

(UB)

4.750 01/01/50

5,200,158

5,000,000

(a) New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2025A,

(UB)

4.750 01/01/55

5,160,204

2,800,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2025A

5.250 01/01/55

3,010,053

2,750,000

Passaic

County

Improvement

Authority,

New

Jersey,

Revenue

Bonds,

Paterson

Parking

Deck

Facility,

Series

2005

5.000 04/15/35

2,755,262

2,890,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

One

Hundred

Seventy

Seventh

Series

2013,

(AMT)

4.000 01/15/43

2,849,823

7,895,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Eighteen

Series

2019,

(AMT)

4.000 11/01/41

7,886,111

4,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Eighteen

Series

2019,

(AMT)

4.000 11/01/47

3,754,924

1,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Forty-Fifth

Series

2024

5.000 09/01/49

1,063,822

1,285,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Forty-Fifth

Series

2024

5.000 09/01/54

1,352,041

4,500,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Fouteen

Series

2019,

(AMT)

4.000 09/01/38

4,546,274

2,500,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Fouteen

Series

2019,

(AMT)

4.000 09/01/39

2,516,155

1,265,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Thirty-Eighth

Series

2023,

(AMT)

5.000 07/15/38

1,401,841

2,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Thirty-Four

Series

2022,

(AMT)

5.500 08/01/52

2,115,450

10,720,000

(a) Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Thirty-Six

Series

2022,

(AMT),

(UB)

5.000 01/15/47

11,035,815

1,385,000

South

Jersey

Transportation

Authority,

New

Jersey,

Transportation

System

Revenue

Bonds,

Series

2020A

5.000 11/01/45

1,441,408

2,240,000

South

Jersey

Transportation

Authority,

New

Jersey,

Transportation

System

Revenue

Bonds,

Series

2022A

4.625 11/01/47

2,276,868

1,000,000

South

Jersey

Transportation

Authority,

New

Jersey,

Transportation

System

Revenue

Bonds,

Series

2022A

-

BAM

Insured

5.250 11/01/52

1,048,307

1,000,000

South

Jersey

Transportation

Authority,

New

Jersey,

Transportation

System

Revenue

Bonds,

Series

2025A

-

BAM

Insured

4.000 11/01/38

1,048,324

1,000,000

South

Jersey

Transportation

Authority,

New

Jersey,

Transportation

System

Revenue

Bonds,

Series

2025A

-

BAM

Insured

4.000 11/01/39

1,039,859

TOTAL

TRANSPORTATION

161,372,489

U.S.

GUARANTEED

-

1.3%

(d)(0.8%

of

Total

Investments)

1,760,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Kennedy

Health

System

Obligated

Group

Issue,

Refunding

Series

2012,

(ETM)

3.750 07/01/27

1,777,022

1,875,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2019AA,

(Pre-refunded

12/15/28)

5.000 06/15/46

2,026,408

1,250,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2022CC,

(Pre-refunded

12/15/32)

5.000 06/15/48

1,471,751

1,610,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2022CC,

(Pre-refunded

12/15/32)

5.500 06/15/50

1,946,147

TOTAL

U.S.

GUARANTEED

7,221,328

UTILITIES

-

6.0%

(3.5%

of

Total

Investments)

500,000

Guam

Power

Authority,

Revenue

Bonds,

Refunding

Series

2024A

5.000 10/01/28

525,345

505,000

Guam

Power

Authority,

Revenue

Bonds,

Refunding

Series

2024A

5.000 10/01/29

539,989

1,970,000

New

Jersey

Economic

Development

Authority,

Natural

Gas

Facilities

Revenue

Bonds,

New

Jersey

Natural

Gas

Company

Project,

Refunding

Series

2011A

2.750 08/01/39

1,685,144

See

Notes

to

Financial

Statements

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

1,495,000

New

Jersey

Economic

Development

Authority,

Natural

Gas

Facilities

Revenue

Bonds,

New

Jersey

Natural

Gas

Company

Project,

Refunding

Series

2011C,

(AMT)

3.000 %

08/01/41

$

1,324,225

2,355,000

New

Jersey

Economic

Development

Authority,

Water

Facilities

Revenue

Bonds,

Middlesex

Water

Company,

Series

2019,

(AMT)

4.000 08/01/59

2,067,612

835,000

New

Jersey

Environmental

Infrastructure

Trust,

Environmental

Infrastructure

Bonds,

Green

Series

2025A-SW1

5.000 09/01/36

1,010,158

4,455,000

New

Jersey

Infrastructure

Bank,

Environmental

Infrastructure

Bonds,

Green

Series

2021A-1

3.000 09/01/34

4,495,251

925,000

New

Jersey

Infrastructure

Bank,

Environmental

Infrastructure

Bonds,

Green

Series

2024A-W1

5.000 09/01/49

989,514

2,700,000

Passaic

County

Utilities

Authority,

New

Jersey,

Solid

Waste

Disposal

Revenue

Bonds,

Refunding

Series

2018

5.000 03/01/37

3,092,288

1,365,000

Passaic

Valley

Water

Commission,

New

Jersey,

Water

System

Revenue

Bonds,

Series

2023

-

AGM

Insured

4.000 12/01/53

1,330,480

1,500,000

(c) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A

5.000 07/01/35

1,567,667

1,000,000

(c) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021B

4.000 07/01/42

971,292

13,000,000

Salem

County

Pollution

Control

Financing

Authority,

New

Jersey,

Revenue

Bonds,

Atlantic

City

Electric

Company

Project,

Refunding

Series

2020

2.250 06/01/29

12,585,840

TOTAL

UTILITIES

32,184,805

TOTAL

MUNICIPAL

BONDS

(Cost

$896,815,625)

902,353,072

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$896,815,625)

902,353,072

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

-

0.7%

(0.4%

of

Total

Investments)

X

3,500,000

MUNICIPAL

BONDS

-

0.7% (0.4%

of

Total

Investments)

X

–

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

0.7%

(0.4%

of

Total

Investments)

$

3,500,000

(e) Rutgers

State

University,

New

Jersey,

Revenue

Bonds,

Series

2009G

1.600 05/01/39

$

3,500,000

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

3,500,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$3,500,000)

3,500,000

TOTAL

INVESTMENTS

-

169.0%

(Cost

$900,315,625)

905,853,072

FLOATING

RATE

OBLIGATIONS

-

(11.9)%

(63,850,000)

VRDP

SHARES,

NET

-

(58.4)%

(f) (312,862,377)

OTHER

ASSETS

&

LIABILITIES,

NET

-

1.3%

6,969,081

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

-

100%

$

536,109,776

AMT

Alternative

Minimum

Tax

ETM

Escrowed

to

maturity

UB

Underlying

bond

of

an

inverse

floating

rate

trust

reflected

as

a

financing

transaction.

Inverse

floating

rate

trust

is

a

Recourse

Trust

unless

otherwise

noted.

(a) Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

inverse

floating

rate

transactions.

(b) Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable. For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(c) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$6,533,971

or

0.7%

of

Total

Investments.

(d) Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(e) Investment

has

a

maturity

of

greater

than

one

year,

but

has

variable

rate

and/or

demand

features

which

qualify

it

as

a

short-term

investment.

The

rate

disclosed,

as

well

as

the

reference

rate

and

spread,

where

applicable,

is

that

in

effect

as

of

the

end

of

the

reporting

period.

This

rate

changes

periodically

based

on

market

conditions

or

a

specified

market

index.

(f) VRDP

Shares,

Net

as

a

percentage

of

Total

Investments

is

34.5%.

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026

#### NRK
See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

163.9% (98.8%

of

Total

Investments)

X

1,589,239,708

MUNICIPAL

BONDS

-

163.9% (98.8%

of

Total

Investments)

X

–

CONSUMER

STAPLES

-

7.8%

(4.7%

of

Total

Investments)

$

27,580,000

Erie

County

Tobacco

Asset

Securitization

Corporation,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2005A

5.000 %

06/01/38

$

25,822,914

9,555,000

Erie

County

Tobacco

Asset

Securitization

Corporation,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2005A

5.000 06/01/45

7,988,958

10,000,000

(a) Erie

County

Tobacco

Asset

Securitization

Corporation,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2005C

0.000 06/01/50

1,293,039

4,680,000

New

York

Counties

Tobacco

Trust

VI,

New

York,

Tobacco

Settlement

Pass-Through

Bonds,

Turbo

Term

Series

2016A.

Including

2016A-1,

2016A-2A

and

2016A-2B

5.000 06/01/45

4,139,810

39,715,000

TSASC

Inc.,

New

York,

Tobacco

Asset-Backed

Bonds,

Series

2006

5.000 06/01/48

36,606,932

TOTAL

CONSUMER

STAPLES

75,851,653

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

24.0%

(14.5%

of

Total

Investments)

6,620,000

Brooklyn

Arena

Local

Development

Corporation,

New

York,

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Barclays

Center

Project,

Refunding

Series

2016A

5.000 07/15/42

6,657,023

9,995,000

Brooklyn

Arena

Local

Development

Corporation,

New

York,

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Barclays

Center

Project,

Series

2009

0.000 07/15/45

3,956,085

29,145,000

Brooklyn

Arena

Local

Development

Corporation,

New

York,

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Barclays

Center

Project,

Series

2009

0.000 07/15/47

10,096,312

970,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Classical

Charter

Schools

Series

2023A

4.500 06/15/43

928,350

850,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Classical

Charter

Schools

Series

2023A

4.750 06/15/53

769,100

500,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Classical

Charter

Schools

Series

2023A

4.750 06/15/58

446,329

725,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Global

Community

Charter

School

Project,

Series

2022A

5.000 06/15/52

626,812

5,000,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

KIPP

New

York

City

Public

School

Facilities,

Canal

West

Project,

Series

2022

5.250 07/01/57

5,047,716

5,325,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

KIPP

New

York

City

Public

School

Facilities,

Canal

West

Project,

Series

2022

5.250 07/01/62

5,361,491

397,607

(b) Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Metropolitan

College

of

New

York,

Series

2014

5.250 11/01/29

318,086

2,063,559

(b) Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Metropolitan

College

of

New

York,

Series

2014

5.250 11/01/34

1,650,847

542,146

(b) Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Metropolitan

College

of

New

York,

Series

2014

5.000 11/01/39

433,717

880,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Success

Academy

Charter

Schools

Project,

Series

2024

4.000 09/01/43

866,955

1,050,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Success

Academy

Charter

Schools

Project,

Series

2024

4.000 09/01/44

1,021,933

2,440,000

(a) Build

NYC

Resource

Corporation

Revenue

Bonds,

New

York,

East

Harlem

Scholars

Academy

Charter

School

Project,

Series

2022

(Social

Bonds)

5.750 06/01/62

2,403,522

7,510,000

(a) Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Family

Life

Academy

Charter

School,

Series

2020A-1

5.500 06/01/55

6,718,831

500,000

(a) Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Richmond

Preparatory

Charter

School

Project,

Social

Impact

Project

Series

2021A

5.000 06/01/41

459,618

2,085,000

(a) Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Richmond

Preparatory

Charter

School

Project,

Social

Impact

Project

Series

2021A

5.000 06/01/51

1,684,441

750,000

(a) Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Richmond

Preparatory

Charter

School

Project,

Social

Impact

Project

Series

2021A

5.000 06/01/56

590,326

3,655,000

Dobbs

Ferry

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Mercy

College

Project,

Series

2014

5.000 07/01/44

3,657,237

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

4,750,000

(a) Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

American

Musical

and

Dramatic

Academy

Inc.,

Series

2023A

7.250 %

07/01/53

$

4,880,474

6,055,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Yeshiva

University,

Series

2022A

5.000 07/15/42

6,251,151

8,655,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Yeshiva

University,

Series

2022A

5.000 07/15/50

8,647,642

4,265,000

Dormitory

Authority

of

the

State

of

New

York,

Housing

Revenue

Bonds,

Fashion

Institute

of

Technology,

Series

2007

-

FGIC

Insured

5.250 07/01/34

4,671,928

9,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Fordham

University,

Series

2020

4.000 07/01/46

8,557,190

4,825,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Icahn

School

of

Medicine

at

Mount

Sinai,

Refunding

Series

2015A

5.000 07/01/40

4,830,035

8,145,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Icahn

School

of

Medicine

at

Mount

Sinai,

Refunding

Series

2015A

5.000 07/01/45

8,145,191

5,820,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

School

University,

Series

2016A

5.000 07/01/41

5,878,140

4,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

School

University,

Series

2022A

4.000 07/01/47

3,647,572

4,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

York

University,

Series

2001-1

-

AMBAC

Insured

5.500 07/01/40

4,803,180

2,605,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

York

University,

Series

2016A

4.000 07/01/43

2,602,350

2,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

York

University,

Series

2019A

5.000 07/01/37

2,140,888

4,125,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Rockefeller

University,

Green

Series

2019B

5.000 07/01/50

4,244,746

1,375,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Rockefeller

University,

Series

2020A

5.000 07/01/53

1,422,488

13,165,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Rockefeller

University,

Series

2022A

4.000 07/01/42

13,434,211

8,925,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Vaughn

College

of

Aeronautics

&

Technology,

Series

2016A

5.500 12/01/36

8,737,796

11,470,000

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Marist

College

Project,

Series

2022

4.000 07/01/49

10,286,560

7,695,000

Glen

Cove

Local

Economic

Assistance

Corporation,

New

York,

Revenue

Bonds,

Garvies

Point

Public

Improvement

Project,

Capital

Appreciation

Series

2016C

5.625 01/01/55

7,049,398

1,500,000

Glen

Cove

Local

Economic

Assistance

Corporation,

New

York,

Revenue

Bonds,

Garvies

Point

Public

Improvement

Project,

Current

Interest

Series

2016A

5.000 01/01/56

1,237,510

1,785,000

Hempstead

Town

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Adelphi

University

Project,

Series

2013

5.000 09/01/38

1,786,750

1,785,000

Hempstead

Town

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Adelphi

University

Project,

Series

2013

5.000 09/01/43

1,785,989

5,750,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds, University

of

Rochester

Project,

Series

2023A

5.000 07/01/53

5,984,771

635,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

St.

John

Fisher

University

Project,

Series

2024

5.250 06/01/49

674,276

8,315,000

MTA

Hudson

Rail

Yards

Trust

Obligations,

New

York,

MTA

Financing

Agreement

Payable

by

the

Metropolitan

Transportation

Authority,

Series

2016A

5.000 11/15/51

8,315,080

15,950,000

New

York

City

Industrial

Development

Agency,

New

York,

PILOT

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Yankee

Stadium

Project,

Series

2020A

4.000 03/01/45

15,436,495

7,645,000

New

York

City

Industrial

Development

Agency,

New

York,

PILOT

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Yankee

Stadium

Project,

Series

2020A

-

AGM

Insured

4.000 03/01/45

7,516,586

10,000,000

Onondaga

County

Trust

For

Cultural

Resources,

New

York,

Revenue

Bonds,

Syracuse

University

Project,

Series

2019

5.000 12/01/43

10,575,558

15,805,000

Onondaga

County

Trust

For

Cultural

Resources,

New

York,

Revenue

Bonds,

Syracuse

University

Project,

Series

2019

4.000 12/01/47

15,151,160

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NRK

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

350,000

Yonkers

Economic

Development

Corporation,

New

York,

Educational

Revenue

Bonds,

Lamartine/Warburton

LLC-Charter

School

of

Educational

Excellence

Project,

Series

2019A

5.000 %

10/15/39

$

354,796

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

232,744,642

FINANCIALS

-

2.0%

(1.2%

of

Total

Investments)

1,615,000

Liberty

Development

Corporation,

New

York,

Goldman

Sachs

Headquarter

Revenue

Bonds,

Series

2005

5.250 10/01/35

1,937,441

13,835,000

Liberty

Development

Corporation,

New

York,

Goldman

Sachs

Headquarters

Revenue

Bonds

Series

2007

5.500 10/01/37

17,058,321

TOTAL

FINANCIALS

18,995,762

HEALTH

CARE

-

28.6%

(17.3%

of

Total

Investments)

6,455,000

Albany

Capital

Resource

Corporation,

New

York,

Revenue

Bonds,

Albany

Medical

Center

Hospital

Series

2025A

5.250 05/01/50

6,893,953

23,690,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A

4.000 05/01/45

22,680,195

29,975,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A

4.250 05/01/52

27,827,627

3,000,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A

5.000 05/01/52

3,057,168

5,000,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2024A

4.000 05/01/54

4,487,100

5,645,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2024A

5.250 05/01/54

5,878,202

25,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Memorial

Sloan

Kettering

Cancer

Center

Series

2022-1A

4.000 07/01/51

23,298,880

10,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Memorial

Sloan

Kettering

Cancer

Center

Series

2022-1B

4.000 07/01/51

9,319,552

1,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Medical

Center,

Series

2024

5.500 11/01/47

1,051,545

6,750,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2018A

5.000 08/01/34

6,985,032

3,250,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2020A

5.000 09/01/33

3,466,717

2,450,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2020A

4.000 09/01/45

2,178,769

19,055,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Mount

Sinai

Health

Obligated

Group,

Series

2025

5.250 07/01/50

19,227,577

14,365,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

NYU

Langone

Hospitals

Obligated

Group,

Series

2020A

4.000 07/01/50

13,089,283

21,830,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

NYU

Langone

Hospitals

Obligated

Group,

Series

2020A

4.000 07/01/53

19,390,299

1,000,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2015

5.000 12/01/30

1,000,387

1,200,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2015

5.000 12/01/34

1,200,293

3,500,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2015

5.000 12/01/40

3,479,349

7,900,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2015

5.000 12/01/45

7,269,064

1,000,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2017

5.000 12/01/27

1,013,836

1,900,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2017

5.000 12/01/29

1,908,004

2,600,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2017

5.000 12/01/30

2,609,718

3,500,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2017

5.000 12/01/34

3,501,307

590,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2017

5.000 12/01/36

580,536

1,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Roswell

Park

Cancer

Institute

Obligated

Group,

Series

2025A

5.500 07/01/50

1,089,960

620,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

White

Plains

Hospital,

Series

2024

5.250 10/01/49

631,597

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

5,475,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

White

Plains

Hospital,

Series

2024

5.500 %

10/01/54

$

5,863,016

15,405,000

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Health

Quest

Systems,

Inc.

Project,

Series

2016B

4.000 07/01/41

15,189,441

8,765,000

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Health

Quest

Systems,

Inc.

Project,

Series

2016B

5.000 07/01/46

8,765,755

3,935,000

Genesee

County

Funding

Corporation,

New

York,

Revenue

Bonds,

Rochester

Regional

Health

Project,

Series

2025A

5.250 12/01/50

4,057,143

4,290,000

Genesee

County

Funding

Corporation,

New

York,

Revenue

Bonds,

Rochester

Regional

Health

Project,

Series

2025A

5.500 12/01/55

4,484,462

200,000

Livingston

County

Industrial

Development

Agency,

New

York,

Civic

Facility

Revenue

Bonds,

Nicholas

H. Noyes

Hospital,

Series

2005

6.000 07/01/30

200,422

3,975,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Rochester

General

Hospital

Project,

Series

2013A

5.000 12/01/42

3,976,467

8,925,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Rochester

General

Hospital

Project,

Series

2017

5.000 12/01/46

8,928,090

4,000,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Rochester

Regional

Health

Project,

Series

2020A

4.000 12/01/46

3,547,690

1,765,000

New

York

State

Dormitory

Authority,

Revenue

Bonds,

Memorial

Sloan-Kettering

Cancer

Center

Series

2025-I

5.250 07/01/54

1,896,183

28,805,000

Westchester

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Westchester

Medical

Center

Obligated

Group

Project,

Refunding

Series

2016

5.000 11/01/46

26,930,670

665,000

Westchester

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Westchester

Medical

Center

Obligated

Group

Project,

Series

2023

6.250 11/01/52

685,337

TOTAL

HEALTH

CARE

277,640,626

HOUSING/MULTIFAMILY

-

1.2%

(0.7%

of

Total

Investments)

3,450,000

New

York

City

Housing

Development

Corporation,

New

York,

Multifamily

Housing

Revenue

Bonds,

Sustainable

Development

Series

2024B-1-A

4.750 11/01/54

3,478,420

3,430,000

New

York

City

Housing

Development

Corporation,

New

York,

Multifamily

Housing

Revenue

Bonds,

Sustainable

Development

Series

2024B-1-A

4.850 11/01/59

3,453,303

3,900,000

(a) New

York

City

Housing

Development

Corporation,

New

York,

Multi-Family

Mortgage

Revenue

Bonds,

Spruce

Street,

Class

F

Series

2024

5.250 12/15/31

4,059,952

TOTAL

HOUSING/MULTIFAMILY

10,991,675

INDUSTRIALS

-

3.4%

(2.1%

of

Total

Investments)

31,530,000

(a) New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

World

Trade

Center

Project,

Class

Series

2014

5.000 11/15/44

31,581,977

2,000,000

New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

World

Trade

Center

Project,

Refunding

Green

Series

2022A-CL2

3.250 09/15/52

1,494,271

120,000

New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

World

Trade

Center

Project,

Refunding

Green

Series

2022A-CL2

3.500 09/15/52

96,398

TOTAL

INDUSTRIALS

33,172,646

LONG-TERM

CARE

-

0.1%

(0.1%

of

Total

Investments)

1,000,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Saint

Anns

Community

Project,

Series

2019

5.000 01/01/40

1,004,267

TOTAL

LONG-TERM

CARE

1,004,267

TAX

OBLIGATION/GENERAL

-

7.7%

(4.6%

of

Total

Investments)

5,030,000

Nassau

County,

New

York,

General

Obligation

Bonds,

General

Improvement

Series

2016C

5.000 04/01/33

5,039,766

10,000,000

Nassau

County,

New

York,

General

Obligation

Bonds,

General

Improvement

Series

2018B

-

AGM

Insured

5.000 07/01/45

10,345,188

3,905,000

Nassau

County,

New

York,

General

Obligation

Bonds,

General

Improvement

Series

2021A

-

AGM

Insured

4.000 04/01/51

3,731,333

5,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2013

Series

5.000 03/01/29

5,011

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NRK

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

7,560,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2018

Series

5.250 %

10/01/32

$

7,894,464

4,525,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2018

Series

5.000 03/01/40

4,699,955

6,830,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2018

Series

5.000 04/01/40

7,103,264

1,500,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2020

Series

5.000 08/01/43

1,575,230

5,890,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2020

Series

4.000 08/01/44

5,799,659

6,500,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2021

Series

C

5.000 08/01/38

6,998,453

5,000,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2021

Series

5.000 03/01/44

5,266,229

10,000,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2026

Series

D

5.250 10/01/51

10,658,129

4,344,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

4.000 07/01/41

4,216,171

725,000

Rochester,

New

York,

General

Obligation

Bonds,

Series

1999

-

NPFG

Insured

5.250 10/01/26

738,355

TOTAL

TAX

OBLIGATION/GENERAL

74,071,207

TAX

OBLIGATION/LIMITED

-

47.5%

(28.6%

of

Total

Investments)

11,625,000

Battery

Park

City

Authority,

New

York,

Revenue

Bonds,

Senior

Sustainability

Green

Series

2025

5.250 11/01/55

12,558,640

25,000,000

Battery

Park

City

Authority,

New

York,

Revenue

Bonds,

Senior

Sustainability

Series

2023A

5.000 11/01/48

26,541,395

85,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

School

Districts

Financing

Program,

Series

2009A

-

AGC

Insured

5.625 10/01/29

85,233

20,910,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose

Series

2024A

4.000 03/15/54

19,331,914

13,805,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Bidding

Group

Series

2021E

4.000 03/15/48

13,109,486

1,960,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2021A

5.000 03/15/49

2,018,705

1,400,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2017A

Group

C

5.000 03/15/41

1,430,484

17,510,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2018A

5.000 03/15/40

18,282,527

10,000,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2018C

4.000 03/15/45

9,838,121

15,000,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2025A

5.000 03/15/55

15,708,576

1,080,000

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Green

Fiscal

2022

Series

A

4.000 02/15/36

1,134,496

1,115,000

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Second

Indenture

Fiscal

2017

Series

A

5.000 02/15/34

1,143,073

3,500,000

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Second

Indenture

Fiscal

2017

Series

A

5.000 02/15/36

3,581,593

5,285,000

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Second

Indenture

Fiscal

2017

Series

A

5.000 02/15/39

5,402,676

13,275,000

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Second

Indenture

Fiscal

2017

Series

A

5.000 02/15/45

13,467,615

8,000,000

Metropolitan

Transportation

Authority,

New

York,

Dedicated

Tax

Fund

Bonds,

Climate

Bond

Certified,

Green

Series

2017B-1

4.000 11/15/52

7,282,819

1,520,000

Metropolitan

Transportation

Authority,

New

York,

Dedicated

Tax

Fund

Bonds,

Green

Series

2024A

4.000 11/15/51

1,429,071

10,000,000

Metropolitan

Transportation

Authority,

New

York,

Dedicated

Tax

Fund

Bonds,

Green

Series

2024B-1

4.000 11/15/54

9,282,022

10,000,000

Metropolitan

Transportation

Authority,

New

York,

Dedicated

Tax

Fund

Bonds,

Series

2022A

4.000 11/15/42

10,098,052

10,000,000

Metropolitan

Transportation

Authority,

New

York,

Dedicated

Tax

Fund

Bonds,

Series

2022A

4.000 11/15/52

9,265,866

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

3,675,000

Monroe

County

Industrial

Development

Agency,

New

York,

School

Facility

Revenue

Bonds,

Rochester

Schools

Modernization

Project,

Series

2013

5.000 %

05/01/28

$

3,682,210

5,000,000

New

York

City

Transitional

Finance

Authority,

New

York,

Building

Aid

Revenue

Bonds,

Fiscal

2018,

Series

2017S-3

5.000 07/15/43

5,179,869

7,500,000

New

York

City

Transitional

Finance

Authority,

New

York,

Building

Aid

Revenue

Bonds,

Fiscal

Series

2016S-1

4.000 07/15/40

7,501,928

4,000,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2017

Series

5.000 05/01/40

4,011,310

8,100,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2017

Series

4.000 08/01/41

8,108,422

1,375,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2017

Series

5.000 02/01/39

1,401,788

5,625,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2017

Series

5.000 02/01/43

5,709,305

7,500,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2019

Subseries

4.000 11/01/42

7,513,319

8,065,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2022

Subseries

4.000 08/01/45

7,868,147

14,120,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

Series

2023F-1

4.000 02/01/51

12,874,005

18,000,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Series

2024C

5.250 05/01/48

19,173,316

6,500,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Series

2024F-1

4.250 02/01/54

6,258,335

10,000,000

New

York

City,

New

York,

Educational

Construction

Fund

Revenue

Bonds,

Series

2021B

5.000 04/01/46

10,371,236

3,960,000

New

York

City,

New

York,

Educational

Construction

Fund

Revenue

Bonds,

Series

2021B

5.000 04/01/52

4,057,822

9,980,000

New

York

State

Dormitory

Authority,

Personal

Income

Tax

Revenue

Bonds,

General

Purpose

Series

2019A

4.000 03/15/49

9,376,611

21,000,000

New

York

State

Thruway

Authority,

State

Personal

Income

Tax

Revenue

Bonds,

Bidding

Group

Series

2022A

4.125 03/15/52

20,047,062

10,000,000

(c) New

York

State

Thruway

Authority,

State

Personal

Income

Tax

Revenue

Bonds,

Series

2025A-3,

(UB)

5.000 03/15/48

10,610,035

7,500,000

New

York

State

Urban

Development

Corporation,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2020C

5.000 03/15/47

7,884,432

18,525,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

0.000 07/01/46

6,663,639

90,206,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

0.000 07/01/51

23,733,866

47,925,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

5.000 07/01/58

47,039,753

3,500,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.329 07/01/40

3,507,239

3,000,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.329 07/01/40

3,006,205

259,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.536 07/01/53

243,015

5,140,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Green

Bonds,

Series

2022D-2

4.500 05/15/47

5,179,107

8,425,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Series

2021B-1

4.000 05/15/56

7,756,692

9,600,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Subseries

2021A-1

5.000 05/15/51

9,965,651

1,325,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Senior

Lien

Bonds,

Series

2022C

4.125 05/15/52

1,233,083

10,000,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Senior

Lien

Bonds,

Series

2022C

5.250 05/15/52

10,488,420

10,000,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Sales

Tax

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

TBTA

Capital

Lockbox-

City

Sales

Tax,

Series

2024A-1

4.000 05/15/54

9,226,745

TOTAL

TAX

OBLIGATION/LIMITED

460,664,931

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NRK

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

-

17.3%

(10.4%

of

Total

Investments)

$

1,500,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Climate

Bond

Certified

Series

2017A-1

5.250 %

11/15/57

$

1,508,025

7,775,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Climate

Bond

Certified

Series

2020C-1

5.000 11/15/50

7,932,089

19,315,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Climate

Bond

Certified

Series

2020C-1

5.250 11/15/55

19,834,332

10,135,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Refunding

Series

2024A

5.500 11/15/47

10,970,541

2,250,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Refunding

Series

2025B

5.000 11/15/43

2,463,504

2,500,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Refunding

Green

Series

2016B

5.000 11/15/37

2,529,254

2,500,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Refunding

Series

2017D

5.000 11/15/32

2,630,839

2,440,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Series

2016C-1

5.000 11/15/39

2,465,155

2,500,000

New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

Secured

by

Port

Authority

Consolidated

Bonds,

Refunding

Series

1WTC-2021

-

BAM

Insured

4.000 02/15/43

2,506,653

20,780,000

New

York

State

Thruway

Authority,

General

Revenue

Bonds,

Maturity

Group

Series

2021O

4.000 01/01/46

20,027,269

2,280,000

New

York

State

Thruway

Authority,

General

Revenue

Bonds,

Series

2020N

4.000 01/01/43

2,288,909

5,720,000

New

York

State

Thruway

Authority,

General

Revenue

Bonds,

Series

2020N

4.000 01/01/45

5,601,972

2,400,000

New

York

State

Thruway

Authority,

General

Revenue

Junior

Indebtedness

Obligations,

Refunding

Series

2026A

5.000 01/01/48

2,554,136

9,355,000

New

York

State

Thruway

Authority,

General

Revenue

Junior

Indebtedness

Obligations,

Series

2019B

4.000 01/01/50

8,535,945

1,175,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2020C

5.000 12/01/32

1,298,271

3,750,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2020C

5.000 12/01/34

4,115,531

3,465,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2020C

4.000 12/01/39

3,488,931

1,800,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2020C

4.000 12/01/40

1,804,045

1,515,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Eleventh

Series

2018

4.000 09/01/43

1,518,888

1,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Eleventh

Series

2018

5.000 09/01/48

1,028,379

1,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Fifth

Series

2017

5.000 11/15/47

1,018,827

7,495,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Forty-Fourth

Series

2024

5.000 07/15/54

7,881,667

6,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Thirteenth

Series

2019

5.000 09/01/37

6,481,186

11,500,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Purpose

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Refunding

Series

2017B

5.000 11/15/38

11,822,478

7,715,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Purpose

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Series

2018A

5.000 11/15/43

7,992,443

9,000,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Purpose

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Series

2019A

5.000 11/15/49

9,212,427

16,000,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Series

2021A

4.000 11/15/56

14,698,456

3,610,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Series

2021A

5.000 11/15/56

3,721,280

TOTAL

TRANSPORTATION

167,931,432

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

U.S.

GUARANTEED

-

2.2%

(d)(1.3%

of

Total

Investments)

$

1,625,000

Dormitory

Authority

of

the

State

of

New

York,

Lease

Revenue

Bonds,

State

University

Dormitory

Facilities,

Series

2017A,

(Pre-

refunded

7/01/27)

5.000 %

07/01/46

$

1,686,901

5,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2019A,

(Pre-refunded

3/15/29)

4.000 03/15/49

5,267

15,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2019A,

(Pre-refunded

3/15/29)

4.000 03/15/49

15,801

7,190,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2000A,

(ETM)

0.000 06/01/26

7,147,992

12,810,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2000A,

(ETM)

0.000 06/01/26

12,735,158

TOTAL

U.S.

GUARANTEED

21,591,119

UTILITIES

-

22.1%

(13.3%

of

Total

Investments)

4,825,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Green

Series

2023E

5.000 09/01/53

5,055,765

10,000,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2000A

-

AGM

Insured

0.000 06/01/27

9,666,213

15,000,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2000A

-

AGM

Insured

0.000 06/01/28

14,080,084

10,000,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2000A

-

AGM

Insured

0.000 06/01/29

9,111,363

520,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2016B

5.000 09/01/46

523,014

1,000,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2017

5.000 09/01/47

1,016,620

5,000,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2018

5.000 09/01/38

5,276,669

8,815,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2024A

5.000 09/01/54

9,268,479

5,000,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2017

Series

DD

5.000 06/15/47

5,047,623

2,990,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2017

Series

DD

5.250 06/15/47

3,025,368

5,035,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2018

Series

5.000 06/15/48

5,098,524

21,815,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2018

Series

EE

5.000 06/15/40

22,622,334

1,225,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2020

Series

4.000 06/15/42

1,234,099

2,000,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2020

Series

EE

4.000 06/15/42

2,014,855

3,085,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2020

Series

5.000 06/15/50

3,193,409

2,500,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2021

Series

4.000 06/15/42

2,521,648

2,925,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2021

Series

5.000 06/15/51

3,036,253

5,000,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2022

Series

4.000 06/15/51

4,645,888

6,855,000

(c) New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2023

Series

AA-1,

(UB)

5.250 06/15/52

7,241,302

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NRK

See

Notes

to

Financial

Statements

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

32,000,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2024

Series

4.000 %

06/15/45

$

31,345,584

7,775,000

(e) New

York

Energy

Finance

Development

Corporation,

Energy

Supply

Revenue

Bonds,

Series

2025,

(Mandatory

Put

12/01/33)

5.000 07/01/56

8,348,517

14,430,000

New

York

State

Environmental

Facilities

Corporation,

State

Clean

Water

and

Drinking

Water

Revolving

Funds

Revenue

Bonds,

New

York

City

Municipal

Water

Finance

Authority

Projects-Second

Resolution

Bonds,

Subordinated

SRF

Series

2017A

5.000 06/15/46

14,639,760

5,000,000

New

York

State

Environmental

Facilities

Corporation,

State

Revolving

Funds

Revenue

Bonds,

2010

Master

Financing

Program,

Green

Series

2019A

5.000 02/15/49

5,192,724

3,000,000

New

York

State

Environmental

Facilities

Corporation,

State

Revolving

Funds

Revenue

Bonds,

Green

Series

2022B

5.250 09/15/52

3,203,781

11,440,000

New

York

State

Power

Authority,

General

Revenue

Bonds,

Series

2020A

4.000 11/15/50

10,876,614

9,000,000

New

York

State

Power

Authority,

General

Revenue

Bonds,

Series

2020A

4.000 11/15/55

8,448,729

2,955,000

New

York

State

Power

Authority,

General

Revenue

Bonds,

Series

2020A

4.000 11/15/60

2,730,465

9,085,000

New

York

State

Power

Authority,

Green

Transmission

Project

Revenue

Bonds,

Green

Series

2023A

-

AGM

Insured

5.000 11/15/53

9,570,065

3,190,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A

5.000 07/01/47

3,197,153

3,205,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021B

5.000 07/01/37

3,346,846

TOTAL

UTILITIES

214,579,748

TOTAL

MUNICIPAL

BONDS

(Cost

$

1,567,687,240)

1,589,239,708

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$1,567,687,240)

1,589,239,708

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

-

2.0%

(1.2%

of

Total

Investments)

X

19,280,000

MUNICIPAL

BONDS

-

2.0% (1.2%

of

Total

Investments)

X

–

TAX

OBLIGATION/GENERAL

-

0.7%

(0.4%

of

Total

Investments)

$

6,280,000

(f) New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

Adjustable

Rate

2023

Series

1.900 09/01/49

$

6,280,000

TOTAL

TAX

OBLIGATION/GENERAL

6,280,000

TAX

OBLIGATION/LIMITED

-

1.3%

(0.8%

of

Total

Investments)

13,000,000

(f) New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Taxable

Subordinate

Fiscal

2019

Series

1.900 08/01/45

13,000,000

TOTAL

TAX

OBLIGATION/LIMITED

13,000,000

TOTAL

MUNICIPAL

BONDS

(Cost

$19,280,000)

19,280,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$19,280,000)

19,280,000

TOTAL

INVESTMENTS

-

165.9%

(Cost

$1,586,967,240)

1,608,519,708

FLOATING

RATE

OBLIGATIONS

-

(1.4)%

(13,480,000)

MFP

SHARES,

NET

-

(8.2)%

(g) (79,642,926)

VRDP

SHARES,

NET

-

(60.1)%

(h) (582,413,543)

OTHER

ASSETS

&

LIABILITIES,

NET

-

3.8%

36,802,478

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

-

100%

$

969,785,717

ETM

Escrowed

to

maturity

UB

Underlying

bond

of

an

inverse

floating

rate

trust

reflected

as

a

financing

transaction.

Inverse

floating

rate

trust

is

a

Recourse

Trust

unless

otherwise

noted.

See

Notes

to

Financial

Statements

(a) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$91,516,469

or

5.7%

of

Total

Investments.

(b) Defaulted

security.

A

security

whose

issuer

has

failed

to

fully

pay

principal

and/or

interest

when

due,

or

is

under

the

protection

of

bankruptcy.

(c) Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

inverse

floating

rate

transactions.

(d) Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(e) Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable. For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(f) Investment

has

a

maturity

of

greater

than

one

year,

but

has

variable

rate

and/or

demand

features

which

qualify

it

as

a

short-term

investment.

The

rate

disclosed,

as

well

as

the

reference

rate

and

spread,

where

applicable,

is

that

in

effect

as

of

the

end

of

the

reporting

period.

This

rate

changes

periodically

based

on

market

conditions

or

a

specified

market

index.

(g) MFP

Shares,

Net

as

a

percentage

of

Total

Investments

is

5.0%.

(h) VRDP

Shares,

Net

as

a

percentage

of

Total

Investments

is

36.2%.

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026

#### NNY
See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

98.6%

X

166,880,635

MUNICIPAL

BONDS

-

98.6%

X

–

CONSUMER

STAPLES

-

2.8%

$

1,100,000

Erie

County

Tobacco

Asset

Securitization

Corporation,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2005A

5.000 %

06/01/38

$

1,029,920

370,000

New

York

Counties

Tobacco

Trust

VI,

New

York,

Tobacco

Settlement

Pass-Through

Bonds,

Series

Series

2016A-1

5.625 06/01/35

377,780

3,440,000

New

York

Counties

Tobacco

Trust

VI,

New

York,

Tobacco

Settlement

Pass-Through

Bonds,

Series

Series

2016A-1

5.750 06/01/43

3,387,920

TOTAL

CONSUMER

STAPLES

4,795,620

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

13.2%

640,000

Buffalo

and

Erie

County

Industrial

Land

Development

Corporation,

New

York,

Revenue

Bonds,

Enterprise

Charter

School

Project,

Series

2011A

7.500 12/01/40

640,182

1,250,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

City

University

of

New

York

-

Queens

College,

Q

Student

Residences,

LLC

Project,

Refunding

Series

2014A

5.000 06/01/43

1,251,054

100,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Classical

Charter

Schools

Series

2023A

4.500 06/15/43

95,706

140,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Classical

Charter

Schools

Series

2023A

4.750 06/15/58

124,972

1,015,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

KIPP

New

York

City

Public

School

Facilities,

Canal

West

Project,

Series

2022

5.250 07/01/62

1,021,955

250,000

(a) Build

NYC

Resource

Corporation

Revenue

Bonds,

New

York,

East

Harlem

Scholars

Academy

Charter

School

Project,

Series

2022

(Social

Bonds)

5.750 06/01/62

246,263

220,000

(a) Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Family

Life

Academy

Charter

School,

Series

2020C-1

5.000 06/01/40

216,631

385,000

(a) Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Richmond

Preparatory

Charter

School

Project,

Social

Impact

Project

Series

2021A

5.000 06/01/56

303,034

475,000

(a) Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

American

Musical

and

Dramatic

Academy

Inc.,

Series

2023A

7.250 07/01/53

488,047

1,080,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Yeshiva

University,

Series

2022A

5.000 07/15/50

1,079,082

1,000,000

Dormitory

Authority

of

the

State

of

New

York,

Housing

Revenue

Bonds,

Fashion

Institute

of

Technology,

Series

2007

-

FGIC

Insured

5.250 07/01/34

1,095,411

1,330,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Icahn

School

of

Medicine

at

Mount

Sinai,

Refunding

Series

2015A

5.000 07/01/40

1,331,388

2,180,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Icahn

School

of

Medicine

at

Mount

Sinai,

Refunding

Series

2015A

5.000 07/01/45

2,180,051

1,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

School

University,

Series

2016A

5.000 07/01/41

1,009,990

385,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

School

University,

Series

2022A

4.000 07/01/47

351,079

2,760,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

York

University,

Series

2016A

5.000 07/01/35

2,781,862

175,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

York

University,

Series

2018A

5.000 07/01/48

179,236

2,625,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Rockefeller

University,

Green

Series

2019B

5.000 07/01/50

2,701,202

670,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Rockefeller

University,

Series

2022A

4.000 07/01/42

683,701

845,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Vaughn

College

of

Aeronautics

&

Technology,

Series

2016A

5.500 12/01/36

827,276

725,000

Glen

Cove

Local

Economic

Assistance

Corporation,

New

York,

Revenue

Bonds,

Garvies

Point

Public

Improvement

Project,

Capital

Appreciation

Series

2016C

5.625 01/01/55

664,173

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

100,000

Hempstead

Town

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Adelphi

University

Project,

Series

2013

5.000 %

09/01/38

$

100,098

300,000

Hempstead

Town

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Adelphi

University

Project,

Series

2013

5.000 09/01/43

300,166

405,000

New

York

City

Industrial

Development

Agency,

New

York,

PILOT

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Queens

Baseball

Stadium

Project,

Refunding

Series

2021A

-

AGM

Insured

3.000 01/01/37

395,643

3,000,000

New

York

City

Industrial

Development

Agency,

New

York,

PILOT

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Yankee

Stadium

Project,

Series

2009A

-

AGC

Insured

0.000 03/01/40

1,725,392

500,000

New

York

City

Industrial

Development

Agency,

New

York,

PILOT

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Yankee

Stadium

Project,

Series

2020A

-

AGM

Insured

4.000 03/01/45

491,601

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

22,285,195

FINANCIALS

-

0.7%

1,000,000

Liberty

Development

Corporation,

New

York,

Goldman

Sachs

Headquarters

Revenue

Bonds

Series

2007

5.500 10/01/37

1,232,983

TOTAL

FINANCIALS

1,232,983

HEALTH

CARE

-

16.1%

1,170,000

Albany

Capital

Resource

Corporation,

New

York,

Revenue

Bonds,

Albany

Medical

Center

Hospital

Series

2025A

5.500 05/01/55

1,253,326

1,430,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A

4.000 05/01/45

1,369,045

2,700,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A

4.250 05/01/52

2,506,576

1,000,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A

5.000 05/01/52

1,019,056

2,270,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2024A

5.250 05/01/54

2,363,776

2,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Memorial

Sloan

Kettering

Cancer

Center

Series

2022-1A

4.000 07/01/51

1,863,910

2,100,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2018A

5.000 08/01/34

2,173,121

935,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Mount

Sinai

Health

Obligated

Group,

Series

2025

5.250 07/01/50

943,468

2,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

NYU

Langone

Hospitals

Obligated

Group,

Series

2020A

4.000 07/01/50

1,822,385

1,040,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

NYU

Langone

Hospitals

Obligated

Group,

Series

2020A

4.000 07/01/53

923,771

800,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2017

5.000 12/01/32

801,821

1,160,000

(a) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2017

5.000 12/01/36

1,141,393

475,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Roswell

Park

Cancer

Institute

Obligated

Group,

Series

2025A

5.500 07/01/55

512,622

60,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

White

Plains

Hospital,

Series

2024

5.250 10/01/49

61,122

550,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

White

Plains

Hospital,

Series

2024

5.500 10/01/54

588,979

3,460,000

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Health

Quest

Systems,

Inc.

Project,

Series

2016B

4.000 07/01/41

3,411,585

415,000

Genesee

County

Funding

Corporation,

New

York,

Revenue

Bonds,

Rochester

Regional

Health

Project,

Series

2025A

5.250 12/01/50

427,882

445,000

Genesee

County

Funding

Corporation,

New

York,

Revenue

Bonds,

Rochester

Regional

Health

Project,

Series

2025A

5.500 12/01/55

465,171

200,000

Livingston

County

Industrial

Development

Agency,

New

York,

Civic

Facility

Revenue

Bonds,

Nicholas

H. Noyes

Hospital,

Series

2005

6.000 07/01/30

200,422

660,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Rochester

General

Hospital

Project,

Series

2017

5.000 12/01/46

660,228

2,875,000

Westchester

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Westchester

Medical

Center

Obligated

Group

Project,

Refunding

Series

2016

5.000 11/01/46

2,687,925

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NNY

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

65,000

Westchester

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Westchester

Medical

Center

Obligated

Group

Project,

Series

2023

6.250 %

11/01/52

$

66,988

TOTAL

HEALTH

CARE

27,264,572

HOUSING/MULTIFAMILY

-

0.1%

100,000

(a) New

York

City

Housing

Development

Corporation,

New

York,

Multi-Family

Mortgage

Revenue

Bonds,

Spruce

Street,

Class

F

Series

2024

5.250 12/15/31

104,101

TOTAL

HOUSING/MULTIFAMILY

104,101

INDUSTRIALS

-

2.3%

3,930,000

(a) New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

World

Trade

Center

Project,

Class

Series

2014

5.000 11/15/44

3,936,479

10,000

New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

World

Trade

Center

Project,

Refunding

Green

Series

2022A-CL2

3.500 09/15/52

8,033

TOTAL

INDUSTRIALS

3,944,512

LONG-TERM

CARE

-

0.2%

220,000

Dormitory

Authority

of

the

State

of

New

York,

Non-State

Supported

Debt,

Ozanam

Hall

of

Queens

Nursing

Home

Revenue

Bonds,

Series

2006

5.000 11/01/31

223,183

100,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Saint

Anns

Community

Project,

Series

2019

5.000 01/01/40

100,427

TOTAL

LONG-TERM

CARE

323,610

MATERIALS

-

0.3%

490,000

(a) Build

New

York

City

Resource

Corporation,

New

York,

Solid

Waste

Disposal

Revenue

Bonds,

Pratt

Paper

NY,

Inc.

Project,

Series

2014,

(AMT)

5.000 01/01/35

490,869

TOTAL

MATERIALS

490,869

TAX

OBLIGATION/GENERAL

-

9.4%

1,000,000

Nassau

County,

New

York,

General

Obligation

Bonds,

General

Improvement

Bonds

Series

2019B

-

AGM

Insured

5.000 04/01/44

1,061,107

5,000,000

Nassau

County,

New

York,

General

Obligation

Bonds,

General

Improvement

Series

2022A

-

AGM

Insured

4.125 04/01/47

4,926,042

1,000,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2018

Series

5.000 03/01/40

1,038,664

835,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2020

4.000 03/01/50

778,141

1,900,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2022

Series

5.000 08/01/47

1,973,245

1,000,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2025

Series

A

5.000 08/01/38

1,141,664

1,250,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2026

Series

5.250 08/01/53

1,329,242

3,000,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2026

Series

D

5.250 10/01/51

3,197,439

409,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

4.000 07/01/41

396,965

TOTAL

TAX

OBLIGATION/GENERAL

15,842,509

TAX

OBLIGATION/LIMITED

-

17.7%

1,290,000

Battery

Park

City

Authority,

New

York,

Revenue

Bonds,

Senior

Sustainability

Green

Series

2025

5.250 11/01/55

1,393,604

1,000,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Bidding

Group

Through

5,

Series

2020A

4.000 03/15/44

987,829

3,000,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2017A

Group

C

5.000 03/15/41

3,065,322

2,000,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2025A

4.250 03/15/48

1,969,741

540,000

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Second

Indenture

Fiscal

2017

Series

A

5.000 02/15/39

552,024

2,465,000

New

York

City

Transitional

Finance

Authority,

New

York,

Building

Aid

Revenue

Bonds,

Fiscal

2020

Subseries

S-1B

4.000 07/15/43

2,440,623

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

1,125,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2017

Series

5.000 %

02/01/39

$

1,146,917

1,000,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2017

Series

5.000 02/01/43

1,014,988

1,875,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2026

Subseries

Series

5.000 05/01/54

1,957,442

1,000,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

Series

2023F-1

4.000 02/01/51

911,757

2,120,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

Series

2025D

4.250 05/01/54

2,043,215

565,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

Series

2025H-1

5.250 11/01/48

607,649

1,685,000

New

York

State

Thruway

Authority,

State

Personal

Income

Tax

Revenue

Bonds,

Bidding

Group

Series

2022A

5.000 03/15/45

1,794,610

1,000,000

New

York

State

Urban

Development

Corporation,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose

Group

1,

Series

2019A

4.000 03/15/48

934,014

2,000,000

New

York

State

Urban

Development

Corporation,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2020C

4.000 03/15/49

1,915,563

6,509,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

0.000 07/01/51

1,712,566

3,218,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

5.000 07/01/58

3,158,559

17,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.536 07/01/53

15,951

1,030,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Series

2022

A

4.000 05/15/51

954,895

90,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Subseries

2021A-1

5.000 05/15/51

93,428

355,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Senior

Lien

Bonds,

Series

2022C

4.125 05/15/52

330,373

1,000,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Sales

Tax

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

TBTA

Capital

Lockbox-

City

Sales

Tax

Series

2023A

4.250 05/15/58

951,033

TOTAL

TAX

OBLIGATION/LIMITED

29,952,103

TRANSPORTATION

-

21.2%

785,000

Build

NYC

Resource

Corporation,

New

York,

Airport

Facilities

Revenue

Bonds.

TrIPs

Obligated

Group,

Senior

Series

2025,

(AMT)

5.500 07/01/50

830,383

970,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Climate

Bond

Certified

Series

2020C-1

5.000 11/15/50

989,598

1,950,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Refunding

Series

2024B

4.000 11/15/44

1,880,248

2,000,000

(b) New

York

City

Industrial

Development

Agency,

New

York,

Civic

Facility

Revenue

Bonds,

Bronx

Parking

Development

Company,

LLC

Project,

Series

2007

5.750 10/01/37

1,260,000

1,500,000

(b) New

York

City

Industrial

Development

Agency,

New

York,

Civic

Facility

Revenue

Bonds,

Bronx

Parking

Development

Company,

LLC

Project,

Series

2007

5.875 10/01/46

945,000

1,255,000

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021,

(AMT)

4.000 10/31/41

1,240,025

290,000

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021,

(AMT)

4.000 10/31/46

263,631

1,830,000

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021,

(AMT)

4.000 04/30/53

1,576,254

400,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Bonds,

LaGuardia

Airport

Terminal

B

Redevelopment

Project,

Series

2016A,

(AMT)

5.000 07/01/46

400,159

3,815,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Bonds,

LaGuardia

Airport

Terminal

B

Redevelopment

Project,

Series

2016A,

(AMT)

5.250 01/01/50

3,816,370

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NNY

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

1,000,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Redevelopment

Project,

Senior

Green

Series

2024A,

(AMT)

5.250 %

12/31/54

$

1,027,305

2,130,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Redevelopment

Project,

Senior

Green

Series

2024A,

(AMT)

5.500 12/31/60

2,185,146

175,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

American

Airlines,

Inc.

John

F

Kennedy

International

Airport

Project,

Refunding

Series

2016,

(AMT)

5.000 08/01/26

175,203

2,625,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

American

Airlines,

Inc.

John

F

Kennedy

International

Airport

Project,

Refunding

Series

2016,

(AMT)

5.000 08/01/31

2,629,089

105,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

American

Airlines,

Inc.

John

F

Kennedy

International

Airport

Project,

Series

2020,

(AMT)

5.375 08/01/36

110,742

500,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

John

F

Kennedy

International

Airport

New

Terminal

Project,

Green

Series

2024,

(AMT)

5.500 06/30/60

511,127

355,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

New

Terminal

John

F

Kennedy

International

Airport

Project,

Green

Series

2023,

(AMT)

6.000 06/30/54

372,667

1,515,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

New

Terminal

John

F

Kennedy

International

Airport

Project,

Green

Series

2023,

(AMT)

5.375 06/30/60

1,521,454

340,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2020C

5.000 12/01/35

371,238

1,785,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2022,

(AMT)

5.000 12/01/35

1,964,553

2,000,000

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2018,

(AMT)

5.000 01/01/27

2,034,409

400,000

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2018,

(AMT)

5.000 01/01/28

414,957

850,000

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2018,

(AMT)

5.000 01/01/31

880,438

400,000

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2020,

(AMT)

5.000 10/01/40

414,164

1,000,000

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2023,

(AMT)

6.000 04/01/35

1,116,392

1,930,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Eleventh

Series

2018

4.000 09/01/43

1,934,953

800,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Fifth

Series

2017

5.000 11/15/42

827,750

1,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Twentieth

Series

2019,

(AMT)

4.000 11/01/59

892,625

1,155,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Purpose

Revenue

Bonds,

Refunding

Subordinate

Lien

Series

2017A2

5.000 11/15/42

1,182,659

2,000,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Revenue

Bonds,

Refunding

Series

2018C

5.000 11/15/37

2,124,166

TOTAL

TRANSPORTATION

35,892,705

See

Notes

to

Financial

Statements

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

-

14.6%

$

300,000

Buffalo

Municipal

Water

Finance

Authority,

New

York,

Water

System

Revenue

Bonds,

Refunding

Series

2015A

5.000 %

07/01/29

$

300,586

3,440,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Green

Series

2023E

5.000 09/01/53

3,604,525

580,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2016B

5.000 09/01/46

583,362

3,000,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2018

Series

5.000 06/15/48

3,037,849

2,200,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2020

Series

EE

4.000 06/15/42

2,216,340

1,145,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2023

Series

5.250 06/15/52

1,209,525

1,000,000

New

York

State

Environmental

Facilities

Corporation,

State

Clean

Water

and

Drinking

Water

Revolving

Funds

Revenue

Bonds,

New

York

City

Municipal

Water

Finance

Authority

Projects-Second

Resolution

Bonds,

Subordinated

SRF

Series

2017A

5.000 06/15/46

1,

014,536

1,300,000

New

York

State

Environmental

Facilities

Corporation,

State

Clean

Water

and

Drinking

Water

Revolving

Funds

Revenue

Bonds,

New

York

City

Municipal

Water

Finance

Authority

Projects-Second

Resolution

Bonds,

Subordinated

SRF

Series

2017E

5.000 06/15/47

1,317,200

1,895,000

New

York

State

Environmental

Facilities

Corporation,

State

Clean

Water

and

Drinking

Water

Revolving

Funds

Revenue

Bonds,

New

York

City

Municipal

Water

Finance

Authority

Projects-Second

Resolution

Bonds,

Subordinated

SRF

Series

2022A

5.000 06/15/51

1,

990,798

2,000,000

New

York

State

Environmental

Facilities

Corporation,

State

Revolving

Funds

Revenue

Bonds,

Green

Series

2022B

5.250 09/15/52

2,135,854

780,000

New

York

State

Power

Authority,

General

Revenue

Bonds,

Green

Series

2024A

.000

11/15/54

716,597

5,000,000

New

York

State

Power

Authority,

General

Revenue

Bonds,

Series

2020A

4.000 11/15/55

4,693,738

650,000

New

York

State

Power

Authority,

Green

Transmission

Project

Revenue

Bonds,

Green

Series

2023A

-

AGM

Insured

5.000 11/15/48

690,610

500,000

(a) Niagara

Area

Development

Corporation,

New

York,

Solid

Waste

Disposal

Facility

Revenue

Refunding

Bonds,

Covanta

Energy

Project,

Series

2018A,

(AMT)

4.750 11/01/42

463,598

775,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A

5.000 07/01/47

776,738

TOTAL

UTILITIES

24,751,856

TOTAL

MUNICIPAL

BONDS

(Cost

$165,298,076)

166,880,635

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$165,298,076)

166,880,635

OTHER

ASSETS

&

LIABILITIES,

NET

-

1.4%

2,352,020

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

-

100%

$

169,232,655

AMT

Alternative

Minimum

Tax

(a) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$9,796,250

or

5.9%

of

Total

Investments.

(b) Defaulted

security.

A

security

whose

issuer

has

failed

to

fully

pay

principal

and/or

interest

when

due,

or

is

under

the

protection

of

bankruptcy.

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026

#### NAN
See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

162.5% (100.0%

of

Total

Investments)

X

602,188,131

MUNICIPAL

BONDS

-

162.5% (100.0%

of

Total

Investments)

X

–

CONSUMER

STAPLES

-

6.0%

(3.7%

of

Total

Investments)

$

12,500,000

Erie

County

Tobacco

Asset

Securitization

Corporation,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2005A

5.000 %

06/01/38

$

11,703,641

3,210,000

Erie

County

Tobacco

Asset

Securitization

Corporation,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2005A

5.000 06/01/45

2,683,889

120,000

New

York

Counties

Tobacco

Trust

VI,

New

York,

Tobacco

Settlement

Pass-Through

Bonds,

Series

Series

2016A-1

5.625 06/01/35

122,523

1,145,000

New

York

Counties

Tobacco

Trust

VI,

New

York,

Tobacco

Settlement

Pass-Through

Bonds,

Series

Series

2016A-1

5.750 06/01/43

1,127,665

7,155,000

TSASC

Inc.,

New

York,

Tobacco

Asset-Backed

Bonds,

Series

2006

5.000 06/01/48

6,595,055

TOTAL

CONSUMER

STAPLES

22,232,773

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

10.9%

(6.7%

of

Total

Investments)

2,780,000

Buffalo

and

Erie

County

Industrial

Land

Development

Corporation,

New

York,

Revenue

Bonds,

Enterprise

Charter

School

Project,

Series

2011A

7.500 12/01/40

2,780,789

340,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Classical

Charter

Schools

Series

2023A

4.500 06/15/43

325,401

550,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Classical

Charter

Schools

Series

2023A

4.750 06/15/58

490,962

400,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

KIPP

New

York

City

Public

School

Facilities,

Canal

West

Project,

Series

2022

5.250 07/01/52

405,354

1,000,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

KIPP

New

York

City

Public

School

Facilities,

Canal

West

Project,

Series

2022

5.250 07/01/57

1,009,543

200,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

KIPP

New

York

City

Public

School

Facilities,

Canal

West

Project,

Series

2022

5.250 07/01/62

201,371

508,203

(a) Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Metropolitan

College

of

New

York,

Series

2014

5.250 11/01/34

406,563

469,860

(a) Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Metropolitan

College

of

New

York,

Series

2014

5.000 11/01/39

375,888

870,000

(b) Build

NYC

Resource

Corporation

Revenue

Bonds,

New

York,

East

Harlem

Scholars

Academy

Charter

School

Project,

Series

2022

(Social

Bonds)

5.750 06/01/62

856,994

1,000,000

(b) Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Albert

Einstein

College

of

Medicine,

Inc,

Series

2023

7.250 06/01/55

1,044,920

1,000,000

(b) Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Family

Life

Academy

Charter

School,

Series

2020A-1

5.250 06/01/40

1,004,405

290,000

(b) Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Richmond

Preparatory

Charter

School

Project,

Social

Impact

Project

Series

2021A

5.000 06/01/41

266,579

1,000,000

(b) Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Richmond

Preparatory

Charter

School

Project,

Social

Impact

Project

Series

2021A

5.000 06/01/51

807,885

1,670,000

(b) Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

American

Musical

and

Dramatic

Academy

Inc.,

Series

2023A

7.250 07/01/53

1,715,872

4,030,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Yeshiva

University,

Series

2022A

5.000 07/15/50

4,026,574

2,000,000

Dormitory

Authority

of

the

State

of

New

York,

Housing

Revenue

Bonds,

Fashion

Institute

of

Technology,

Series

2007

-

FGIC

Insured

5.250 07/01/29

2,081,075

1,565,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Fordham

University,

Series

2020

4.000 07/01/46

1,488,000

1,055,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

York

University,

Series

2016A

5.000 07/01/35

1,063,357

2,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

York

University,

Series

2016A

5.000 07/01/36

2,014,643

2,625,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Rockefeller

University,

Series

2020A

5.000 07/01/53

2,715,659

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

3,140,000

(b) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Vaughn

College

of

Aeronautics

&

Technology,

Series

2016A

5.500 %

12/01/36

$

3,074,138

2,705,000

Glen

Cove

Local

Economic

Assistance

Corporation,

New

York,

Revenue

Bonds,

Garvies

Point

Public

Improvement

Project,

Capital

Appreciation

Series

2016C

5.625 01/01/55

2,478,053

1,005,000

Hempstead

Town

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Adelphi

University

Project,

Series

2013

5.000 09/01/38

1,005,985

265,000

Hempstead

Town

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Adelphi

University

Project,

Series

2013

5.000 09/01/43

265,147

5,000,000

New

York

City

Industrial

Development

Agency,

New

York,

PILOT

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Yankee

Stadium

Project,

Series

2020A

4.000 03/01/45

4,839,026

2,055,000

New

York

City

Industrial

Development

Agency,

New

York,

PILOT

Payment

in

Lieu

of

Taxes

Revenue

Bonds,

Yankee

Stadium

Project,

Series

2020A

-

AGM

Insured

4.000 03/01/45

2,020,482

1,515,000

Onondaga

Civic

Development

Corporation,

New

York,

Revenue

Bonds,

Le

Moyne

College

Project,

Series

2015

5.000 07/01/40

1,515,944

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

40,280,609

FINANCIALS

-

3.8%

(2.3%

of

Total

Investments)

4,725,000

Liberty

Development

Corporation,

New

York,

Goldman

Sachs

Headquarter

Revenue

Bonds,

Series

2005

5.250 10/01/35

5,668,363

6,885,000

Liberty

Development

Corporation,

New

York,

Goldman

Sachs

Headquarters

Revenue

Bonds

Series

2007

5.500 10/01/37

8,489,088

TOTAL

FINANCIALS

14,157,451

HEALTH

CARE

-

27.2%

(16.8%

of

Total

Investments)

4,000,000

Albany

Capital

Resource

Corporation,

New

York,

Revenue

Bonds,

Albany

Medical

Center

Hospital

Series

2025A

5.500 05/01/55

4,284,874

11,020,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A

4.250 05/01/52

10,230,540

4,745,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A

5.000 05/01/52

4,835,422

3,000,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2024A

4.000 05/01/54

2,692,260

4,440,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2024A

5.250 05/01/54

4,623,422

5,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Memorial

Sloan

Kettering

Cancer

Center

Series

2022-1A

4.000 07/01/51

4,659,776

3,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Memorial

Sloan

Kettering

Cancer

Center

Series

2022-1B

4.000 07/01/51

2,795,866

2,420,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2018A

5.000 08/01/30

2,530,916

4,275,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2018A

5.000 08/01/33

4,436,809

3,060,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2018A

5.000 08/01/34

3,166,548

3,195,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Mount

Sinai

Health

Obligated

Group,

Series

2025

5.250 07/01/50

3,223,936

9,150,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

NYU

Langone

Hospitals

Obligated

Group,

Series

2020A

4.000 07/01/50

8,337,413

3,820,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

NYU

Langone

Hospitals

Obligated

Group,

Series

2020A

4.000 07/01/53

3,393,080

2,000,000

(b) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2015

5.000 12/01/40

1,988,200

700,000

(b) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2017

5.000 12/01/32

701,593

5,900,000

(b) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Orange

Regional

Medical

Center

Obligated

Group,

Series

2017

5.000 12/01/35

5,866,893

1,625,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Roswell

Park

Cancer

Institute

Obligated

Group,

Series

2025A

5.500 07/01/55

1,753,708

220,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

White

Plains

Hospital,

Series

2024

5.250 10/01/49

224,115

1,920,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

White

Plains

Hospital,

Series

2024

5.500 10/01/54

2,056,071

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAN

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

870,000

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Health

Quest

Systems,

Inc.

Project,

Series

2016B

4.000 %

07/01/41

$

857,826

8,300,000

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Health

Quest

Systems,

Inc.

Project,

Series

2016B

5.000 07/01/46

8,300,716

1,405,000

Genesee

County

Funding

Corporation,

New

York,

Revenue

Bonds,

Rochester

Regional

Health

Project,

Series

2025A

5.250 12/01/50

1,448,611

1,530,000

Genesee

County

Funding

Corporation,

New

York,

Revenue

Bonds,

Rochester

Regional

Health

Project,

Series

2025A

5.500 12/01/55

1,599,354

480,000

Livingston

County

Industrial

Development

Agency,

New

York,

Civic

Facility

Revenue

Bonds,

Nicholas

H. Noyes

Hospital,

Series

2005

6.000 07/01/30

481,012

2,410,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Rochester

General

Hospital

Project,

Series

2017

5.000 12/01/46

2,410,834

4,470,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Rochester

Regional

Health

Project,

Series

2020A

4.000 12/01/46

3,964,543

620,000

New

York

State

Dormitory

Authority,

Revenue

Bonds,

Memorial

Sloan-Kettering

Cancer

Center

Series

2025-I

5.250 07/01/54

666,081

9,795,000

Westchester

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Westchester

Medical

Center

Obligated

Group

Project,

Refunding

Series

2016

5.000 11/01/46

9,157,643

240,000

Westchester

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Westchester

Medical

Center

Obligated

Group

Project,

Series

2023

6.250 11/01/52

247,340

TOTAL

HEALTH

CARE

100,935,402

HOUSING/MULTIFAMILY

-

0.6%

(0.4%

of

Total

Investments)

1,900,000

New

York

City

Housing

Development

Corporation,

New

York,

Multifamily

Housing

Revenue

Bonds,

Sustainable

Development

Series

2024B-1-A

4.650 11/01/49

1,911,649

325,000

(b) New

York

City

Housing

Development

Corporation,

New

York,

Multi-Family

Mortgage

Revenue

Bonds,

Spruce

Street,

Class

F

Series

2024

5.250 12/15/31

338,329

TOTAL

HOUSING/MULTIFAMILY

2,249,978

HOUSING/SINGLE

FAMILY

-

0.1%

(0.1%

of

Total

Investments)

400,000

Guam

Housing

Corporation,

Mortgage-Backed

Securities

Program

Single

Family

Mortgage

Revenue

Bonds,

Series

1998A,

(AMT)

5.750 09/01/31

403,256

TOTAL

HOUSING/SINGLE

FAMILY

403,256

INDUSTRIALS

-

2.8%

(1.7%

of

Total

Investments)

7,625,000

(b) New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

World

Trade

Center

Project,

Class

Series

2014

5.000 11/15/44

7,637,570

2,500,000

(b) New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

World

Trade

Center

Project,

Class

Series

2014

5.375 11/15/40

2,504,117

40,000

New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

World

Trade

Center

Project,

Refunding

Green

Series

2022A-CL2

3.500 09/15/52

32,132

TOTAL

INDUSTRIALS

10,173,819

LONG-TERM

CARE

-

0.4%

(0.2%

of

Total

Investments)

1,045,000

Dormitory

Authority

of

the

State

of

New

York,

Non-State

Supported

Debt,

Ozanam

Hall

of

Queens

Nursing

Home

Revenue

Bonds,

Series

2006

5.000 11/01/31

1,060,119

340,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Saint

Anns

Community

Project,

Series

2019

5.000 01/01/40

341,451

TOTAL

LONG-TERM

CARE

1,401,570

MATERIALS

-

0.5%

(0.3%

of

Total

Investments)

1,780,000

(b) Build

New

York

City

Resource

Corporation,

New

York,

Solid

Waste

Disposal

Revenue

Bonds,

Pratt

Paper

NY,

Inc.

Project,

Series

2014,

(AMT)

5.000 01/01/35

1,783,158

TOTAL

MATERIALS

1,783,158

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

-

8.6%

(5.3%

of

Total

Investments)

$

3,000,000

Nassau

County,

New

York,

General

Obligation

Bonds,

General

Improvement

Bonds

Series

2019B

-

AGM

Insured

5.000 %

04/01/44

$

3,183,321

4,390,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2018

Series

5.000 03/01/40

4,559,736

2,200,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2018

Series

5.000 04/01/38

2,298,268

3,110,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2021

Series

C

5.000 08/01/43

3,270,605

4,210,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2023

Series

5.250 10/01/47

4,460,264

12,000,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2026

Series

D

5.250 10/01/55

12,714,632

1,506,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

4.000 07/01/41

1,461,684

TOTAL

TAX

OBLIGATION/GENERAL

31,948,510

TAX

OBLIGATION/LIMITED

-

47.4%

(29.2%

of

Total

Investments)

3,875,000

Battery

Park

City

Authority,

New

York,

Revenue

Bonds,

Senior

Sustainability

Green

Series

2025

5.250 11/01/55

4,186,213

10,000,000

Battery

Park

City

Authority,

New

York,

Revenue

Bonds,

Senior

Sustainability

Series

2019A

5.000 11/01/49

10,265,472

7,500,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose

Series

2024A

4.000 03/15/54

6,933,972

7,710,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Bidding

Group

Through

5,

Series

2020A

4.000 03/15/44

7,616,165

1,135,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2019D

4.000 02/15/38

1,159,905

1,000,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2021A

5.000 03/15/49

1,029,951

5,000,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2017A

5.000 03/15/44

5,080,802

3,990,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2018A

5.000 03/15/40

4,166,036

1,000,000

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Green

Fiscal

2022

Series

A

4.000 02/15/36

1,050,459

1,660,000

Metropolitan

Transportation

Authority,

New

York,

Dedicated

Tax

Fund

Bonds,

Green

Series

2024A

4.000 11/15/51

1,560,695

7,265,000

Metropolitan

Transportation

Authority,

New

York,

Dedicated

Tax

Fund

Bonds,

Series

2022A

4.000 11/15/42

7,336,235

2,000,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2017

Series

5.000 02/01/43

2,029,975

5,295,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

Series

2025D

4.250 05/01/54

5,103,219

11,225,000

(c) New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Series

2024C,

(UB)

5.250 05/01/50

11,928,025

5,000,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Series

2024C

5.500 05/01/53

5,373,061

14,830,000

(c) New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Series

2024C,

(UB)

5.500 05/01/53

15,936,499

4,995,000

New

York

State

Dormitory

Authority,

Personal

Income

Tax

Revenue

Bonds,

General

Purpose

Series

2019A

4.000 03/15/49

4,693,003

3,730,000

New

York

State

Thruway

Authority,

State

Personal

Income

Tax

Revenue

Bonds,

Bidding

Group

Series

2022A

5.000 03/15/45

3,972,639

10,000,000

(c) New

York

State

Thruway

Authority,

State

Personal

Income

Tax

Revenue

Bonds,

Series

2025A-3,

(UB)

5.000 03/15/48

10,610,035

4,135,000

New

York

State

Urban

Development

Corporation,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2020C

5.000 03/15/47

4,346,950

3,000,000

New

York

State

Urban

Development

Corporation,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2020C

4.000 03/15/49

2,873,345

7,700,000

New

York

State

Urban

Development

Corporation,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2022A

5.000 03/15/48

8,067,419

4,415,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

0.000 07/01/46

1,588,122

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAN

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

11,014,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

0.000 %

07/01/51

$

2,897,865

22,975,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

5.000 07/01/58

22,550,617

32,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.536 07/01/53

30,025

1,000,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

4.784 07/01/58

968,912

2,000,000

Syracuse

Industrial

Development

Authority,

New

York,

PILOT

Revenue

Bonds,

Carousel

Center

Project,

Refunding

Series

2016A,

(AMT)

5.000 01/01/29

1,665,287

1,000,000

Syracuse

Industrial

Development

Authority,

New

York,

PILOT

Revenue

Bonds,

Carousel

Center

Project,

Refunding

Series

2016A,

(AMT)

5.000 01/01/35

766,910

5,000,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Series

2021B-1

5.000 05/15/56

5,058,809

3,800,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Series

2022

A

4.000 05/15/51

3,522,915

1,000,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Subseries

2021A-1

5.000 05/15/51

1,038,089

1,065,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Senior

Lien

Bonds,

Series

2022C

4.125 05/15/52

991,120

1,785,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Senior

Lien

Bonds,

Series

2022C

5.250 05/15/52

1,872,183

7,080,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Sales

Tax

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

TBTA

Capital

Lockbox-

City

Sales

Tax,

Series

2024A-1

5.250 05/15/59

7,459,987

TOTAL

TAX

OBLIGATION/LIMITED

175,730,916

TRANSPORTATION

-

45.6%

(28.0%

of

Total

Investments)

2,610,000

Build

NYC

Resource

Corporation,

New

York,

Airport

Facilities

Revenue

Bonds.

TrIPs

Obligated

Group,

Senior

Series

2025,

(AMT)

5.500 07/01/50

2,760,891

5,425,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Climate

Bond

Certified

Series

2016A-1

5.000 11/15/46

5,429,924

1,110,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Climate

Bond

Certified

Series

2020C-1

5.000 11/15/50

1,132,427

5,000,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Refunding

Green

Series

2016B

5.000 11/15/37

5,058,508

11,920,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Series

2016C-1

5.250 11/15/56

11,951,612

200,000

(a) New

York

City

Industrial

Development

Agency,

New

York,

Civic

Facility

Revenue

Bonds,

Bronx

Parking

Development

Company,

LLC

Project,

Series

2007

5.750 10/01/37

126,000

5,500,000

(a) New

York

City

Industrial

Development

Agency,

New

York,

Civic

Facility

Revenue

Bonds,

Bronx

Parking

Development

Company,

LLC

Project,

Series

2007

5.875 10/01/46

3,465,000

5,495,000

New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

Secured

by

Port

Authority

Consolidated

Bonds,

Refunding

Series

1WTC-2021

-

BAM

Insured

4.000 02/15/43

5,509,623

5,000,000

New

York

State

Thruway

Authority,

General

Revenue

Bonds,

Series

2020N

4.000 01/01/42

5,042,705

3,000,000

New

York

State

Thruway

Authority,

General

Revenue

Bonds,

Series

2020N

4.000 01/01/43

3,011,722

4,200,000

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021,

(AMT)

4.000 10/31/41

4,149,883

1,060,000

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021,

(AMT)

4.000 10/31/46

963,616

7,750,000

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021,

(AMT)

4.000 04/30/53

6,675,394

1,000,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Bonds,

LaGuardia

Airport

Terminal

B

Redevelopment

Project,

Series

2016A,

(AMT)

5.000 07/01/46

1,000,397

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

13,895,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Bonds,

LaGuardia

Airport

Terminal

B

Redevelopment

Project,

Series

2016A,

(AMT)

5.250 %

01/01/50

$

13,899,990

7,450,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Redevelopment

Project,

Senior

Green

Series

2024A,

(AMT)

5.500 12/31/60

7,642,883

770,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

American

Airlines,

Inc.

John

F

Kennedy

International

Airport

Project,

Refunding

Series

2016,

(AMT)

5.000 08/01/26

770,892

9,730,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

American

Airlines,

Inc.

John

F

Kennedy

International

Airport

Project,

Refunding

Series

2016,

(AMT)

5.000 08/01/31

9,745,158

400,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

American

Airlines,

Inc.

John

F

Kennedy

International

Airport

Project,

Series

2020,

(AMT)

5.375 08/01/36

421,872

6,850,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

John

F

Kennedy

International

Airport

New

Terminal

Project,

Green

Series

2023

-

BAM

Insured,

(AMT)

5.375 06/30/60

7,009,963

1,000,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

John

F

Kennedy

International

Airport

New

Terminal

Project,

Green

Series

2024,

(AMT)

5.500 06/30/60

1,022,255

6,950,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

John

F

Kennedy

International

Airport

Terminal

One

Project,

Green

Series

2025,

(AMT)

6.000 06/30/55

7,423,868

1,340,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

New

Terminal

John

F

Kennedy

International

Airport

Project,

Green

Series

2023,

(AMT)

6.000 06/30/54

1,406,687

140,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2020A,

(AMT)

4.000 12/01/40

139,429

1,250,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2020C

5.000 12/01/34

1,371,844

5,825,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2022,

(AMT)

5.000 12/01/35

6,410,937

8,515,000

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2018,

(AMT)

5.000 01/01/27

8,661,499

2,000,000

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2018,

(AMT)

5.000 01/01/31

2,071,619

2,745,000

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2018,

(AMT)

5.000 01/01/36

2,823,870

3,100,000

New

York

Transportation

Development

Corporation,

Special

Facility

Revenue

Bonds,

Delta

Air

Lines,

Inc.

-

LaGuardia

Airport

Terminals

C&D

Redevelopment

Project,

Series

2023,

(AMT)

6.000 04/01/35

3,460,816

5,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

One

Hundred

Ninety-Eighth

Series

2016

5.250 11/15/56

5,028,693

3,975,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Fifth

Series

2017

5.000 11/15/47

4,049,836

4,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Forty

Second

Series

2023,

(AMT)

5.000 12/01/53

4,068,665

5,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Twentieth

Series

2019,

(AMT)

4.000 11/01/59

4,463,124

2,810,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Twenty-One

Series

2020,

(AMT)

4.000 07/15/55

2,544,802

5,340,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Purpose

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Series

2017A

5.000 11/15/47

5,415,372

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NAN

See

Notes

to

Financial

Statements

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

3,500,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Purpose

Revenue

Bonds,

Refunding

Subordinate

Lien

Series

2017A2

5.000 %

11/15/42

$

3,583,817

10,000,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Series

2022A

4.000 11/15/52

9,181,798

TOTAL

TRANSPORTATION

168,897,391

U.S.

GUARANTEED

-

0.0%

(d)(0.0%

of

Total

Investments)

5,000

Dormitory

Authority

of

the

State

of

New

York,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2019A,

(Pre-refunded

3/15/29)

4.000 03/15/49

5,267

TOTAL

U.S.

GUARANTEED

5,267

UTILITIES

-

8.6%

(5.3%

of

Total

Investments)

2,945,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Green

Series

2023E

5.000 09/01/53

3,085,850

1,310,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2016B

5.000 09/01/46

1,317,593

90,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2017

5.000 09/01/42

92,401

5,000,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2025

Series

BB

5.250 06/15/55

5,329,335

3,680,000

New

York

State

Environmental

Facilities

Corporation,

State

Clean

Water

and

Drinking

Water

Revolving

Funds

Revenue

Bonds,

New

York

City

Municipal

Water

Finance

Authority

Projects-Second

Resolution

Bonds,

Subordinated

SRF

Series

2017A

5.000 06/15/46

3,733,494

7,500,000

New

York

State

Environmental

Facilities

Corporation,

State

Clean

Water

and

Drinking

Water

Revolving

Funds

Revenue

Bonds,

New

York

City

Municipal

Water

Finance

Authority

Projects-Second

Resolution

Bonds,

Subordinated

SRF

Series

2017E

5.000 06/15/47

7,599,231

5,000,000

New

York

State

Power

Authority,

General

Revenue

Bonds,

Series

2020A

4.000 11/15/55

4,693,738

2,270,000

New

York

State

Power

Authority,

Green

Transmission

Project

Revenue

Bonds,

Green

Series

2023A

-

AGM

Insured

5.000 11/15/48

2,411,823

1,920,000

(b) Niagara

Area

Development

Corporation,

New

York,

Solid

Waste

Disposal

Facility

Revenue

Refunding

Bonds,

Covanta

Energy

Project,

Series

2018A,

(AMT)

4.750 11/01/42

1,780,216

1,940,000

(b) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A

5.000 07/01/47

1,944,350

TOTAL

UTILITIES

31,988,031

TOTAL

MUNICIPAL

BONDS

(Cost

$597,612,009)

602,188,131

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$597,612,009)

602,188,131

FLOATING

RATE

OBLIGATIONS

-

(7.8)%

(28,840,000)

AMTP

SHARES,

NET

-

(34.3)%

(e) (126,973,221)

VRDP

SHARES,

NET

-

(23.8)%

(f) (88,363,758)

OTHER

ASSETS

&

LIABILITIES,

NET

-

3.4%

12,534,397

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

-

100%

$

370,545,549

AMT

Alternative

Minimum

Tax

UB

Underlying

bond

of

an

inverse

floating

rate

trust

reflected

as

a

financing

transaction.

Inverse

floating

rate

trust

is

a

Recourse

Trust

unless

otherwise

noted.

(a) Defaulted

security.

A

security

whose

issuer

has

failed

to

fully

pay

principal

and/or

interest

when

due,

or

is

under

the

protection

of

bankruptcy.

(b) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$33,315,219

or

5.5%

of

Total

Investments.

(c) Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

inverse

floating

rate

transactions.

(d) Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

See

Notes

to

Financial

Statements

(e) AMTP

Shares,

Net

as

a

percentage

of

Total

Investments

is

21.1%.

(f) VRDP

Shares,

Net

as

a

percentage

of

Total

Investments

is

14.7%.

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026

#### NQP
See

Notes

to

Financial

Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

164.6% (99.3%

of

Total

Investments)

X

774,643,314

MUNICIPAL

BONDS

-

164.6% (99.3%

of

Total

Investments)

X

–

CONSUMER

STAPLES

-

0.5%

(0.3%

of

Total

Investments)

$

2,000,000

Pennsylvania

Economic

Development

Financing

Authority,

Solid

Waste

Disposal

Revenue

Bonds,

Procter

&

Gamble

Paper

Project,

Series

2001,

(AMT)

.375

%

03/01/31

$

2,269,144

TOTAL

CONSUMER

STAPLES

2,269,144

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

18.5%

(11.1%

of

Total

Investments)

20,000

Berks

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds, Alvernia

University

Project,

Series

2020

.000

10/01/49

17,185

3,215,000

Bucks

County

Industrial

Development

Authority,

Pennsylvania,

Revenue

Bonds,

School

Lane

Charter

School

Project,

Series

2016

.125

03/15/36

3,249,770

835,000

Chester

County

Industrial

Development

Authority,

Pennsylvania,

Avon

Grove

Charter

School

Revenue

Bonds,

Series

2017A

.000

12/15/47

819,094

1,000,000

(a) Chester

County

Industrial

Development

Authority,

Pennsylvania,

Revenue

Bonds,

Collegium

Charter

School

Project,

Series

2022

.000

10/15/52

1,000,613

2,200,000

Crawford

County

Industrial

Development

Authority,

Pennsylvania,

College

Revenue

Bonds,

Allegheny

College,

Series

2016

.000

05/01/34

2,027,138

1,000,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Dickinson

College

Project,

Second

Series

2017A

.000

11/01/39

1,030,144

1,230,000

Dallas

Area

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Misericordia

University

Project,

Series

2019

.000

05/01/48

1,112,822

720,000

Dallas

Area

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Misericordia

University,

Series

2014

.000

05/01/37

720,053

4,595,000

Erie

Higher

Education

Building

Authority,

Pennsylvania,

Revenue

Bonds,

Gannon

University,

Series

2016

.000

05/01/46

3,707,351

1,350,000

General

Authority

of

Southcentral

Pennsylvania,

Revenue

Bonds,

AICUP

Financing

Program-York

College

of

Pennsylvania,

Series

2017

PP4

.375

11/01/37

1,207,029

590,000

Huntingdon

County

General

Authority,

Pennsylvania,

Revenue

Bonds,

Juniata

College,

Series

2016OO2

.250

05/01/36

539,275

1,555,000

Huntingdon

County

General

Authority,

Pennsylvania,

Revenue

Bonds,

Juniata

College,

Series

2016OO2

.500

05/01/41

1,335,349

1,515,000

Indiana

County

Industrial

Development

Authority,

Pennsylvania,

Revenue

Bonds,

Foundation

for

Indiana

University

of

Pennsylvania

Project,

Refunding

Series

2022

-

BAM

Insured

.000

05/01/54

1,402,674

350,000

Lackawanna

County

Industrial

Development

Authority,

Pennsylvania,

Revenue

Bonds,

University

of

Scranton,

Series

2017

.375

11/01/33

350,817

2,925,000

Lackawanna

County

Industrial

Development

Authority,

Pennsylvania,

Revenue

Bonds,

University

of

Scranton,

Series

2017

.000

11/01/40

2,917,220

985,000

Lehigh

County,

Pennsylvania,

Revenue

Bonds,

Lehigh

Valley

Dual

Language

Charter

School,

General

Purpose

Authority,

Series

2023

.000

06/01/53

1,050,642

2,000,000

McCandless

IDA,

Pennsylvania,

University

Revenue

Bonds

Series

A

and

B

of

2022

La

Roche

University

.750

12/01/46

1,872,274

1,005,000

Pennsylvania

Economic

Development

Financing

Authority,

Pennsylvania,

Revenue

Bonds,

Villanova

University

Project,

Series

2024

.000

08/01/54

906,011

9,660,000

(b) Pennsylvania

Economic

Development

Financing

Authority,

Pennsylvania,

Revenue

Bonds,

Villanova

University

Project,

Series

2024,

(UB)

.000

08/01/54

8,708,523

950,000

Pennsylvania

Higher

Education

Assistance

Agency,

Education

Loan

Revenue

Bonds,

Senior

Series

2021A,

(AMT)

.625

06/01/42

883,538

1,740,000

Pennsylvania

Higher

Education

Assistance

Agency,

Education

Loan

Revenue

Bonds,

Senior

Series

2022A,

(AMT)

.500

06/01/43

1,789,232

975,000

Pennsylvania

Higher

Education

Assistance

Agency,

Education

Loan

Revenue

Bonds,

Senior

Series

2023A,

(AMT)

.000

06/01/44

975,606

360,000

Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

LaSalle

University,

Series

2012

.000

05/01/32

293,289

5,750,000

(b) Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

Pennsylvania

Trustees,

Series

2025A,

(UB)

.250

02/15/55

5,620,413

1,030,000

Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

the

Sciences

in

Philadelphia,

Series

2012

.000

11/01/39

999,223

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

1,585,000

Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

the

Sciences

in

Philadelphia,

Series

2012

.000

%

11/01/42

$

1,585,535

380,000

Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

the

Sciences

in

Philadelphia,

Series

2015A

.000

11/01/36

380,274

1,440,000

Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

Widener

University,

Series

2021A

.000

07/15/46

1,230,611

2,680,000

Pennsylvania

State

University,

Revenue

Bonds,

Series

2022A

.000

09/01/47

2,832,490

1,000,000

Pennsylvania

State

University,

Revenue

Bonds,

Series

2023

.250

09/01/48

1,075,720

2,000,000

Pennsylvania

State

University,

Revenue

Bonds,

Series

2023

.250

09/01/53

2,128,145

2,000,000

Pennsylvania

State

University,

Revenue

Bonds,

Series

2024

.000

09/01/49

2,126,169

9,285,000

Pennsylvania

State

University,

Revenue

Bonds,

Series

2025A

.250

09/01/50

10,075,655

1,255,000

Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

Revenue

Bonds,

La

Salle

University,

Series

2017

.625

05/01/35

896,706

425,000

Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

Revenue

Bonds,

Richard

Allen

Preparatory

Charter

School,

Series

2006

.250

05/01/33

425,328

2,010,000

Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

Revenue

Bonds,

Saint

Joseph's

University

Project,

Refunding

Series

2020A

.000

11/01/45

1,829,465

1,500,000

Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

Revenue

Bonds,

Saint

Joseph's

University

Project,

Refunding

Series

2020C.

Forward

Delivery

.000

11/01/36

1,531,636

3,000,000

Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

Revenue

Bonds,

Saint

Joseph's

University

Project,

Series

2022

.500

11/01/60

3,135,655

707,174

(a),(c)

Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

Revenue

Bonds,

University

of

the

Arts,

Series

2017

.000

03/15/45

141,435

2,320,000

Scranton-Lackawanna

Health

and

Welfare

Authority,

Pennsylvania,

Revenue

Bonds,

University

of

Scranton,

Series

2016

.000

11/01/37

2,330,424

5,250,000

Scranton-Lackawanna

Health

and

Welfare

Authority,

Pennsylvania,

University

Revenue

Bonds,

Marywood

University,

Series

2016

.000

06/01/46

4,585,280

2,285,000

University

of

Pittsburgh

of

the

Commonwealth

System

of

Higher

Education,

Pennsylvania,

Capital

Project

Series

2025A

.000

02/15/36

2,781,699

3,555,000

Washington

County

Industrial

Development

Authority,

Pennsylvania,

College

Revenue

Bonds,

AICUP

Financing

Program-Washington

and

Jefferson

College

Project,

Series

2017-PP5

.375

11/01/36

3,306,211

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

86,933,723

ENERGY

-

0.2%

(0.1%

of

Total

Investments)

600,000

(a),(d)

Pennsylvania

Economic

Development

Financing

Authority,

Solid

Waste

Disposal

Revenue

Bonds,

Core

Natural

Resources

Inc.,

Project,

Series

2025,

(AMT),

(Mandatory

Put

3/27/35)

.450

01/01/51

658,256

TOTAL

ENERGY

658,256

HEALTH

CARE

-

26.1%

(15.7%

of

Total

Investments)

4,420,000

Allegheny

County

Hospital

Development

Authority,

Pennsylvania,

Revenue

Bonds,

Allegheny

Health

Network

Obligated

Group

Issue,

Series

2018A

.000

04/01/44

4,221,951

13,100,000

Allegheny

County

Hospital

Development

Authority,

Pennsylvania,

Revenue

Bonds,

Allegheny

Health

Network

Obligated

Group

Issue,

Series

2018A

.000

04/01/44

12,735,258

210,000

Allegheny

County

Hospital

Development

Authority,

Pennsylvania,

Revenue

Bonds,

University

of

Pittsburgh

Medical

Center,

Series

2019A

.000

07/15/35

215,411

2,285,000

Allegheny

County

Hospital

Development

Authority,

Pennsylvania,

Revenue

Bonds,

University

of

Pittsburgh

Medical

Center,

Series

2019A

.000

07/15/36

2,333,895

610,000

Berks

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Tower

Health

Project,

Series

2024A-2

.000

06/30/34

658,266

8,187,000

Berks

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Tower

Health

Project,

Series

2024A-3

.000

06/30/39

7,837,020

4,091,000

(e) Berks

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Tower

Health

Project,

Series

2024B-1

.000

06/30/44

3,040,876

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NQP

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

1,282,000

Berks

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Tower

Health

Project,

Taxable

Series

2024A-1

.000

%

06/30/34

$

1,336,546

10,170,000

Bucks

County

Industrial

Development

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Saint

Luke's

University

Health

Network

Project,

Series

2021

-

BAM

Insured

.000

08/15/53

7,439,209

2,000,000

Butler

County

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Butler

Health

System

Project,

Series

2015A

.000

07/01/39

2,000,342

2,470,000

Chester

County

Health

and

Education

Facilities

Authority,

Pennsylvania,

Health

System

Revenue

Bonds,

Main

Line

Health

System,

Series

2017A

.000

10/01/36

2,497,554

1,580,000

Chester

County

Health

and

Education

Facilities

Authority,

Pennsylvania,

Health

System

Revenue

Bonds,

Main

Line

Health

System,

Series

2017A

.000

10/01/37

1,588,408

2,995,000

Chester

County

Health

and

Education

Facilities

Authority,

Pennsylvania,

Health

System

Revenue

Bonds,

Main

Line

Health

System,

Series

2017A

.000

10/01/47

2,756,133

1,500,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Penn

State

Health,

Series

2019

.000

11/01/49

1,314,514

1,845,000

Doylestown

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Series

2016A

.000

07/01/41

1,855,429

1,105,000

Doylestown

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Series

2019A

.000

07/01/45

1,058,925

1,350,000

Doylestown

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Series

2019A

.000

07/01/49

1,382,112

2,290,000

Dubois

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Penn

Highlands

Healthcare,

Series

2018

.000

07/15/48

2,077,161

3,215,000

Geisinger

Authority,

Montour

County,

Pennsylvania,

Health

System

Revenue

Bonds,

Geisinger

Health

System,

Series

2014A

.000

06/01/41

3,217,360

1,650,000

Lancaster

County

Hospital

Authority,

Pennsylvania,

Revenue

Bonds,

Penn

State

Health,

Series

2021

.000

11/01/51

1,661,962

2,200,000

Lancaster

County

Hospital

Authority,

Revenue

Bonds,

University

of

Pennsylvania

Health

System,

Refunding

Series

2016B

.000

08/15/46

2,207,673

3,000,000

Lancaster

County

Hospital

Authority,

Revenue

Bonds,

University

of

Pennsylvania

Health

System,

Series

2016A

.000

08/15/42

3,018,533

1,490,000

Lehigh

County

General

Purpose

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Lehigh

Valley

Health

Network,

Series

2012B

.000

07/01/43

1,396,762

1,855,000

Lehigh

County

General

Purpose

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Lehigh

Valley

Health

Network,

Series

2019A

.000

07/01/44

1,910,439

1,265,000

Lehigh

County

General

Purpose

Authority,

Pennsylvania,

Revenue

Bonds,

Good

Shepherd

Group,

Refunding

Series

2016

.000

11/01/36

1,159,362

2,850,000

Lehigh

County

General

Purpose

Authority,

Pennsylvania,

Revenue

Bonds,

Good

Shepherd

Group,

Refunding

Series

2016

.000

11/01/41

2,678,763

4,955,000

Lehigh

County

General

Purpose

Authority,

Pennsylvania,

Revenue

Bonds,

Good

Shepherd

Group,

Refunding

Series

2016

.000

11/01/46

4,358,469

1,020,000

Monroe

County

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Pocono

Medical

Center,

Series

2016

.375

07/01/32

1,021,463

2,675,000

Montgomery

County

Higher

Education

and

Health

Authority,

Pennsylvania,

Revenue

Bonds,

Thomas

Jefferson

University,

Series

2018A

.000

09/01/38

2,690,566

2,590,000

Montgomery

County

Higher

Education

and

Health

Authority,

Pennsylvania,

Revenue

Bonds,

Thomas

Jefferson

University,

Series

2019

-

BAM

Insured

.000

09/01/44

2,502,905

1,015,000

Montgomery

County

Higher

Education

and

Health

Authority,

Pennsylvania,

Revenue

Bonds,

Thomas

Jefferson

University,

Series

2019

.000

09/01/49

907,582

3,400,000

Montgomery

County

Higher

Education

and

Health

Authority,

Pennsylvania,

Revenue

Bonds,

Thomas

Jefferson

University,

Series

2022B

.000

05/01/56

2,929,660

200,000

Pennsylvania

Economic

Development

Financing

Authority,

Revenue

Bonds,

University

of

Pittsburgh

Medical

Center,

Fixed

Rate

Series

2023A-2

.000

05/15/48

180,991

4,750,000

Pennsylvania

Economic

Development

Financing

Authority,

Revenue

Bonds,

University

of

Pittsburgh

Medical

Center,

Series

2020A

.000

04/15/50

4,186,995

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

2,925,000

Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

Thomas

Jefferson

University,

Series

2024B-1

.250

%

11/01/51

$

2,767,349

14,445,000

Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

Pennsylvania

Health

System,

Refunding

Series

2016C

.000

08/15/41

14,449,825

3,600,000

Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

Pennsylvania

Health

System,

Series

2019

.000

08/15/49

3,300,988

1,800,000

Philadelphia

Hospitals

and

Higher

Education

Facilities

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Temple

University

Health

System

Obligated

Group,

Series

of

2017

.000

07/01/30

1,836,793

1,170,000

Pocono

Mountains

Industrial

Park

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Saint

Luke's

Hospital

-Monroe

Project,

Series

2015A

.000

08/15/45

1,082,445

1,520,000

Pottsville

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Lehigh

Valley

Health

Network,

Series

2016B

.000

07/01/45

1,528,909

1,305,000

Southcentral

Pennsylvania

General

Authority,

Revenue

Bonds,

Wellspan

Health

Obligated

Group,

Series

2019A

.000

06/01/49

1,325,559

3,500,000

Union

County

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Evangelical

Community

Hospital

Project,

Series

2018B

.000

08/01/48

3,509,743

705,000

Westmoreland

County

Industrial

Development

Authority,

Pennsylvania,

Revenue

Bonds,

Excela

Health

Project,

Series

2020A

.000

07/01/37

701,570

TOTAL

HEALTH

CARE

122,881,676

HOUSING/MULTIFAMILY

-

0.6%

(0.4%

of

Total

Investments)

160,000

Chester

County

Industrial

Development

Authority,

Pennsylvania,

Student

Housing

Revenue

Bonds,

University

Student

Housing,

LLC

Project

at

West

Chester

University

Series

2013A

.000

08/01/45

155,180

1,285,000

(a) Erie

County,

Industrial

Development

Authority,

Pennsylvania,

Essential

Housing

Revenue

Bonds,

Senior-CFC-Erie

I

LLC

Erie

Apartments,

Series

2024A

.750

09/01/61

1,285,705

270,000

Pennsylvania

Higher

Educational

Facilities

Authority,

Revenue

Bonds,

University

Properties

Inc.

Student

Housing

Project

at

East

Stroudsburg

University

of

Pennsylvania,

Series

2016A

.000

07/01/31

270,459

1,159,000

Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

Multifamily

Housing

Revenue

Bonds,

Presbyterian

Homes

Germantown

-

Morrisville

Project,

Series

2005A

.625

07/01/35

1,160,948

TOTAL

HOUSING/MULTIFAMILY

2,872,292

HOUSING/SINGLE

FAMILY

-

25.8%

(15.6%

of

Total

Investments)

2,560,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2015-117B

.900

10/01/35

2,560,439

4,890,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2016-120

.200

04/01/40

4,578,284

20,335,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2016-121

.200

10/01/41

19,236,290

1,080,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2017-122

.650

10/01/32

1,080,339

3,895,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2017-123B

.450

10/01/32

3,901,384

7,000,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2017-124B

.500

10/01/37

7,000,776

2,000,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2019-130A

.700

10/01/39

1,836,133

1,000,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2019-130A

.000

10/01/46

802,125

1,380,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2019-131A

.000

10/01/39

1,282,056

12,000,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2020-132A

.550

10/01/41

10,158,178

1,500,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2020-133

.350

10/01/40

1,254,327

1,450,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2020-133

.500

10/01/45

1,106,537

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NQP

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/SINGLE

FAMILY

(continued)

$

1,565,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2021-136

.550

%

10/01/51

$

1,119,987

4,105,000

(b) Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2023-141A,

(UB)

.600

10/01/43

4,205,398

5,000,000

(b) Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Series

2023-141A,

(UB)

.700

10/01/46

5,060,279

5,000,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2021-134A

.850

04/01/36

4,244,857

3,650,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2021-134A

.050

04/01/41

2,857,560

2,505,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2021-134A

.100

10/01/43

1,806,157

5,295,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2021-135A

.250

10/01/41

4,293,743

6,855,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2021-135A

.375

10/01/46

4,959,336

7,705,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2021-135A

.500

10/01/50

5,446,256

5,240,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2021-137

.450

10/01/41

4,257,532

6,545,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2021-137

.600

04/01/46

4,964,159

3,335,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2022-138A

.000

04/01/42

2,971,408

2,410,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2022-1394A

.150

10/01/42

2,436,133

1,980,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2022-140A

.450

10/01/47

1,986,033

10,000,000

(b) Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2023-142A,

(UB)

.900

10/01/46

10,226,622

5,595,000

Pennsylvania

Housing

Finance

Agency,

Single

Family

Mortgage

Revenue

Bonds,

Social

Series

2025-148A

.625

10/01/45

5,694,148

TOTAL

HOUSING/SINGLE

FAMILY

121,326,476

INDUSTRIALS

-

2.2%

(1.3%

of

Total

Investments)

500,000

(a),(c),(f)

Pennsylvania

Economic

Development

Financing

Authority,

Exempt

Facilities

Revenue

Bonds,

KDC

Agribusiness

Fairless

Hills

LLC

Project,

Series

2020A-1

.000

12/01/40

500,000

(a),(c),(f)

Pennsylvania

Economic

Development

Financing

Authority,

Exempt

Facilities

Revenue

Bonds,

KDC

Agribusiness

Fairless

Hills

LLC

Project,

Series

2020A-2,

(AMT)

.000

12/01/40

6,455,000

Pennsylvania

Economic

Development

Financing

Authority,

Exempt

Facilities

Revenue

Bonds,

National

Gypsum

Company,

Refunding

Series

2014,

(AMT)

.500

11/01/44

6,459,424

3,880,000

(d) Pennsylvania

Economic

Development

Financing

Authority,

Solid

Waste

Disposal

Revenue

Bonds,

Waste

Management

Inc.,

Project,

Series

2011,

(AMT),

(Mandatory

Put

7/01/27)

.250

07/01/41

3,942,788

TOTAL

INDUSTRIALS

10,402,312

LONG-TERM

CARE

-

9.4%

(5.7%

of

Total

Investments)

3,065,000

Adams

County

General

Authority,

Pennsylvania,

Revenue

Bonds,

The

Brethren

Home

Community

Project,

Series

2024A

.000

06/01/54

3,006,405

1,000,000

Adams

County

General

Authority,

Pennsylvania,

Revenue

Bonds,

The

Brethren

Home

Community

Project,

Series

2024A

.000

06/01/59

969,898

940,000

Berks

County

Industrial

Development

Authority,

Pennsylvania,

Healthcare

Facilities

Revenue

Bonds,

Highlands

at

Wyomissing,

Series

2017A

.000

05/15/37

953,067

1,160,000

Berks

County

Industrial

Development

Authority,

Pennsylvania,

Healthcare

Facilities

Revenue

Bonds,

Highlands

at

Wyomissing,

Series

2017A

.000

05/15/47

1,160,568

230,000

Chester

County

Health

and

Education

Facilities

Authority,

Pennsylvania,

Revenue

Bonds,

Simpson

Senior

Services

Project,

Series

2015A

.000

12/01/35

207,977

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

CARE

(continued)

$

1,760,000

Chester

County

Health

and

Education

Facilities

Authority,

Pennsylvania,

Revenue

Bonds,

Simpson

Senior

Services

Project,

Series

2019

.000

%

12/01/51

$

1,363,160

3,910,000

Chester

County

Health

and

Education

Facilities

Authority,

Pennsylvania,

Revenue

Bonds,

Simpson

Senior

Services

Project,

Series

2021A

.000

12/01/40

2,927,183

2,000,000

Chester

County

Health

and

Education

Facilities

Authority,

Pennsylvania,

Revenue

Bonds,

Simpson

Senior

Services

Project,

Series

2021A

.000

12/01/51

1,278,223

3,005,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Asbury

Pennsylvania

Obligated

Group, Refunding

Series

2019

.000

01/01/45

2,974,957

1,075,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Diakon

Lutheran

Social

Ministries

Project,

Series

2015

.000

01/01/33

1,075,487

1,935,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Diakon

Lutheran

Social

Ministries

Project,

Series

2015

.000

01/01/38

1,936,578

985,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Diakon

Lutheran

Social

Ministries

Project,

Series

2016

.000

01/01/28

986,347

1,815,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Diakon

Lutheran

Social

Ministries

Project,

Series

2016

.000

01/01/29

1,817,488

735,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Diakon

Lutheran

Social

Ministries

Project,

Series

2016

.000

01/01/30

735,997

300,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Diakon

Lutheran

Social

Ministries

Project,

Series

2016

.250

01/01/36

289,410

1,405,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Diakon

Lutheran

Social

Ministries

Project,

Series

2016

.250

01/01/39

1,298,204

690,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Diakon

Lutheran

Social

Ministries

Project,

Series

2019A

.125

01/01/38

694,700

200,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Diakon

Lutheran

Social

Ministries

Project,

Series

2019A

.000

01/01/39

205,489

975,000

Lancaster

County

Hospital

Authority,

Pennsylvania,

Health

Center

Revenue

Bonds,

Saint

Anne's

Retirement

Community,

Inc.,

Series

2020

.000

03/01/40

963,281

715,000

Lancaster

County

Hospital

Authority,

Pennsylvania,

Health

Center

Revenue

Bonds,

Saint

Anne's

Retirement

Community,

Inc.,

Series

2020

.000

03/01/50

605,746

1,500,000

Lancaster

County

Hospital

Authority,

Pennsylvania,

Revenue

Bonds,

Landis

Homes

Retirement

Community

Project,

Refunding

Series

2015A

.000

07/01/45

1,500,000

875,000

Lancaster

Industrial

Development

Authority,

Pennsylvania,

Health

Center

Revenue

Bonds,

Landis

Homes

Retirement

Community

Project,

Refunding

Series

2021

.000

07/01/51

735,608

1,400,000

Lancaster

Industrial

Development

Authority,

Pennsylvania,

Health

Center

Revenue

Bonds,

Landis

Homes

Retirement

Community

Project,

Refunding

Series

2021

.000

07/01/56

1,143,008

5,000,000

Maxatawny

Township

Municipal

Authority

Revenue

Bonds,

Pennsylvania,

Diakon

Lutheran

Social

Ministries

Project

Series

2022A

.500

01/01/45

4,874,110

1,000,000

Montgomery

County

Industrial

Development

Authority,

Pennsylvania,

Revenue

Bonds,

ACTS

Retirement-Life

Communities,

Inc.

Obligated

Group,

Series

2023A

.250

11/15/53

1,014,419

1,000,000

Montgomery

County

Industrial

Development

Authority,

Pennsylvania,

Revenue

Bonds,

ACTS

Retirement-Life

Communities,

Inc.

Obligated

Group,

Series

2025A

.000

11/15/49

1,011,712

1,845,000

Northampton

County

Industrial

Development

Authority,

Pennsylvania,

Revenue

Bonds,

Morningstar

Senior

Living,

Inc.,

Series

2019

.000

11/01/44

1,761,621

1,000,000

Northampton

County

Industrial

Development

Authority,

Pennsylvania,

Revenue

Bonds,

Morningstar

Senior

Living,

Inc.,

Series

2019

.000

11/01/49

895,209

500,000

Pennsylvania

Economic

Development

Finance

Authority,

Revenue

Bonds,

Presbyterian

Senior

Living

Project,

Series

2023B-2

.000

07/01/42

520,170

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NQP

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

CARE

(continued)

$

1,250,000

Pennsylvania

Economic

Development

Finance

Authority,

Revenue

Bonds,

Presbyterian

Senior

Living

Project,

Series

2023B-2

.250

%

07/01/46

$

1,281,398

2,215,000

Westmoreland

County

Industrial

Development

Authority,

Pennsylvania,

Retirement

Community

Revenue

Bonds,

Redstone

Presbyterian

SeniorCare

Obligated

Group,

Refunding

Bonds,

Series

2021

.000

05/15/41

1,961,926

2,785,000

Westmoreland

County

Industrial

Development

Authority,

Pennsylvania,

Retirement

Community

Revenue

Bonds,

Redstone

Presbyterian

SeniorCare

Obligated

Group,

Refunding

Bonds,

Series

2021

.000

05/15/47

2,174,457

TOTAL

LONG-TERM

CARE

44,323,803

TAX

OBLIGATION/GENERAL

-

24.2%

(14.6%

of

Total

Investments)

840,000

Adams

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2017B

.500

11/15/29

832,872

3,500,000

Allegheny

County,

Pennsylvania,

General

Obligation

Bonds,

Refunding

Series

2016C-76

.000

11/01/41

3,528,206

1,845,000

Allegheny

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2024C-80

.000

12/01/41

2,017,743

2,305,000

Allegheny

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2024C-80

.000

12/01/42

2,500,741

2,910,000

Allegheny

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2024C-80

.000

12/01/49

3,025,514

1,895,000

Allegheny

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2024C-80

.000

12/01/54

1,960,067

1,000,000

Bristol

Township

School

District,

Bucks

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2023

-

BAM

Insured

.125

06/01/40

1,035,522

600,000

Central

Dauphin

School

District,

Dauphin

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2026

.000

05/15/37

683,208

200,000

Chester

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2025

.000

07/15/41

223,932

2,900,000

Colonial

School

District,

Montgomery

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2020

.000

02/15/44

2,938,062

2,235,000

Cumberland

Valley

School

District,

Cumberland

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2023A

-

AGM

Insured

.000

11/15/47

2,339,217

900,000

Dallastown

Area

School

District,

York

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2025

.000

04/15/26

902,887

3,455,000

Delaware

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2024

.000

08/01/48

3,609,971

600,000

Dover

Area

School

District,

York

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2026

-

BAM

Insured

.000

04/01/38

668,913

300,000

Ephrata

Area

School

District,

Lancaster

County,

Pennsylvania,

General

Obligation

Bonds,

Notes

Series

2026B

.000

03/01/36

342,046

300,000

Ephrata

Area

School

District,

Lancaster

County,

Pennsylvania,

General

Obligation

Bonds,

Notes

Series

2026B

.000

03/01/38

336,875

7,465,000

Erie

City

School

District,

Erie

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2000

-

AMBAC

Insured

.000

09/01/30

6,460,370

425,000

Gateway

School

District,

Allegheny

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2021

-

BAM

Insured

.000

10/15/35

421,108

750,000

Haverford

Township

School

District,

Delaware

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2025

.000

03/15/42

809,950

750,000

Haverford

Township

School

District,

Delaware

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2025

.000

03/15/44

798,251

5,750,000

Hempfield

Area

School

District,

Westmoreland

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2022A

-

AGM

Insured

.000

03/15/48

5,971,669

1,140,000

Kennett

Consolidated

School

District,

Chester

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2024

.000

02/15/51

1,186,404

2,200,000

Lancaster

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2024

.000

11/01/37

2,441,643

1,125,000

Lancaster,

Pennsylvania,

General

Obligation

Bonds,

Series

2016

-

AGM

Insured

.000

11/01/27

1,129,310

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

1,260,000

Muhlenberg

School

District,

Berks

County,

Pennsylvania,

General

Obligation

Bonds,

Series

.000

%

05/15/49

$

1,306,866

400,000

Muhlenberg

School

District,

Berks

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2025

.000

05/15/50

417,081

1,000,000

Penn

Manor

School

District,

Lancaster

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2019A

.000

03/01/35

1,016,212

1,000,000

Penn

Manor

School

District,

Lancaster

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2019A

.000

03/01/36

1,013,473

630,000

Pennsbury

School

District,

Bucks

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2024

.000

08/01/44

671,082

6,000,000

Pennsylvania

State,

General

Obligation

Bonds,

First

Series

2026

.000

04/01/43

6,748,076

3,925,000

Philadelphia

School

District,

Pennsylvania,

General

Obligation

Bonds,

Series

2007A

-

NPFG

Insured

.000

06/01/34

4,551,436

10,000,000

(b) Philadelphia

School

District,

Pennsylvania,

General

Obligation

Bonds,

Series

2023A,

(UB)

.500

09/01/48

10,703,912

1,000,000

Pittsburgh,

Pennsylvania,

General

Obligation

Bonds,

Capital

Improvement

Series

2024

.000

09/01/43

1,076,183

1,000,000

Pittsburgh,

Pennsylvania,

General

Obligation

Bonds,

Capital

Improvement

Series

2025

.250

09/01/44

1,006,073

1,355,000

Pittsburgh,

Pennsylvania,

General

Obligation

Bonds,

Capital

Improvement

Series

2025

.250

09/01/45

1,347,751

11,440,000

Reading

School

District,

Berks

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2003B

-

NPFG

Insured

.000

01/15/32

9,248,706

385,000

Rose

Tree

Media

School

District,

Delaware

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2025

.000

04/01/33

448,459

1,520,000

Souderton

Area

School

District,

Pennsylvania,

General

Obligation

Bonds,

Series

2026

-

BAM

Insured

.000

09/01/40

1,589,855

1,625,000

Souderton

Area

School

District,

Pennsylvania,

General

Obligation

Bonds,

Series

2026

-

BAM

Insured

.000

09/01/41

1,695,799

21,000,000

(b) State

Public

School

Building

Authority,

Pennsylvania,

Lease

Revenue

Bonds,

Philadelphia

School

District,

Series

2003

-

AGM

Insured,

(UB)

.500

06/01/28

22,402,588

70,000

The

Redevelopment

Authority

of

the

City

of

Scranton,

Lackawanna

county,

Pennsylvania,

Guaranteed

Lease

Revenue

Bonds,

Series

2016A

.000

11/15/28

70,070

1,000,000

Tredyffrin-Easttown

School

District,

Chester

County,

Pennsylvania,

General

Obligation

Bonds,

Series

2024

.000

02/15/43

1,079,642

1,265,000

Wilson

School

District,

Berks

County,

Pennsylvania,

General

Obligation

Bonds,

Notes

Series

2025D

.000

05/15/43

1,371,863

TOTAL

TAX

OBLIGATION/GENERAL

113,929,608

TAX

OBLIGATION/LIMITED

-

14.0%

(8.5%

of

Total

Investments)

180,000

(a) Allentown

Neighborhood

Improvement

Zone

Development

Authority,

Pennsylvania,

Tax

Revenue

Bonds,

615

Waterfront

Project,

Senior

Series

2021

.000

05/01/42

191,296

155,000

(a) Allentown

Neighborhood

Improvement

Zone

Development

Authority,

Pennsylvania,

Tax

Revenue

Bonds,

City

Center

Project,

Series

2018

.000

05/01/33

160,330

1,115,000

(a) Allentown

Neighborhood

Improvement

Zone

Development

Authority,

Pennsylvania,

Tax

Revenue

Bonds,

City

Center

Refunding

Project,

Series

2017

.000

05/01/42

1,122,336

1,415,000

(a) Allentown

Neighborhood

Improvement

Zone

Development

Authority,

Pennsylvania,

Tax

Revenue

Bonds,

Neuweiler

Lofts

Project,

Series

2023

.250

05/01/42

1,457,728

450,000

(a) Allentown

Neighborhood

Improvement

Zone

Development

Authority,

Pennsylvania,

Tax

Revenue

Bonds,

E

Allen

Street

Project,

Senior

Series

2024A

.250

05/01/42

465,712

1,500,000

Commonwealth

Financing

Authority,

Pennsylvania,

State

Appropriation

Lease

Bonds,

Master

Settlement,

Series

2018

.000

06/01/31

1,579,511

5,190,000

Commonwealth

Financing

Authority,

Pennsylvania,

State

Appropriation

Lease

Bonds,

Master

Settlement,

Series

2018

-

AGM

Insured

.000

06/01/39

5,209,336

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NQP

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

7,215,000

(b) Commonwealth

Financing

Authority,

Pennsylvania,

State

Appropriation

Lease

Bonds,

Master

Settlement,

Series

2018

-

AGM

Insured,

(UB)

.000

%

06/01/39

$

7,241,881

1,000,000

Delaware

County

Vocational-Technical

School

Authority,

Pennsylvania,

Lease

Revenue

Bonds,

Intermediate

Unit

Project,

Series

2025

-

BAM

Insured

.500

11/01/50

1,079,678

1,100,000

Montgomery

County

Redevelopment

Authority,

Pennsylvania,

Special

Obligation

Revenue

Bonds,

River

Pointe

Project

Series

2023

.500

09/01/43

1,145,841

2,650,000

Pennsylvania

Turnpike

Commission,

Motor

License

Fund-

Enhanced

Turnpike

Special

Revenue

Bonds,

Subordinate

Series

2014A

.750

12/01/37

2,690,910

4,000,000

Pennsylvania

Turnpike

Commission,

Motor

License

Fund-

Enhanced

Turnpike

Special

Revenue

Bonds,

Subordinate

Series

2014A

.900

12/01/44

4,038,095

5,535,000

Pennsylvania

Turnpike

Commission,

Oil

Franchise

Tax

Revenue

Bonds,

Senior

Lien

Series

2021A

.000

12/01/51

5,095,912

1,125,000

Pennsylvania

Turnpike

Commission,

Oil

Franchise

Tax

Revenue

Bonds,

Senior

Series

2018A

.250

12/01/44

1,177,528

1,245,000

Pennsylvania

Turnpike

Commission,

Oil

Franchise

Tax

Revenue

Bonds,

Subordinate

Series

2018B

.000

12/01/48

1,276,402

4,000,000

Pennsylvania

Turnpike

Commission,

Registration

Fee

Revenue

Bonds,

Refunding

Series

2025

.000

07/15/38

4,634,272

2,000,000

Pennsylvania

Turnpike

Commission,

Registration

Fee

Revenue

Bonds,

Refunding

Series

2025

.000

07/15/40

2,273,118

600,000

Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

City

Service

Agreement

Revenue

Bonds,

Rebuild

Project

Series

2025A

.000

12/01/36

711,146

2,500,000

Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

City

Service

Agreement

Revenue

Bonds,

Rebuild

Project

Series

2025A

.000

12/01/45

2,713,220

1,037,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.750

07/01/53

1,011,202

1,150,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.000

07/01/58

1,128,758

1,918,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

.329

07/01/40

1,921,967

839,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

.329

07/01/40

840,735

2,319,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

.784

07/01/58

2,246,908

10,000,000

(b) Southeastern

Pennsylvania

Transportation

Authority,

Revenue

Bonds,

Asset

Improvement

Series

2022,

(UB)

.250

06/01/47

10,595,377

3,000,000

Southeastern

Pennsylvania

Transportation

Authority,

Revenue

Bonds,

Asset

Improvement

Series

2022

.250

06/01/52

3,138,994

825,000

Washington

County

Redevelopment

Authority,

Pennsylvania,

Tanger

Outlet

Victory

Center

Tax

Increment

Bonds,

Series

2018

.000

07/01/35

833,456

TOTAL

TAX

OBLIGATION/LIMITED

65,981,649

TRANSPORTATION

-

17.4%

(10.5%

of

Total

Investments)

1,760,000

Allegheny

County

Airport

Authority,

Pennsylvania,

Airport

Revenue

Bonds,

Pittsburgh

International

Airport,

Series

2021A,

(AMT)

.000

01/01/51

1,781,694

8,020,000

(b) Allegheny

County

Airport

Authority,

Pennsylvania,

Airport

Revenue

Bonds,

Pittsburgh

International

Airport,

Series

2021B,

(UB)

.000

01/01/56

8,163,814

10,000,000

(b) Allegheny

County

Airport

Authority,

Pennsylvania,

Airport

Revenue

Bonds,

Pittsburgh

International

Airport,

Series

2023A

-

AGM

Insured,

(AMT),

(UB)

.500

01/01/53

10,508,820

4,000,000

Allegheny

County

Airport

Authority,

Pennsylvania,

Airport

Revenue

Bonds,

Pittsburgh

International

Airport,

Series

2025A,

(AMT)

.500

01/01/50

4,274,845

2,485,000

Delaware

River

Port

Authority,

New

Jersey

and

Pennsylvania,

Revenue

Bonds,

Refunding

Series

2025

.000

01/01/36

2,937,548

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

1,340,000

Delaware

River

Port

Authority,

New

Jersey

and

Pennsylvania,

Revenue

Bonds,

Series

2018A

.000

%

01/01/37

$

1,421,286

2,000,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

New

Terminal

John

F

Kennedy

International

Airport

Project,

Green

Series

2023

-

AGM

Insured,

(AMT)

.125

06/30/60

2,019,757

3,000,000

Pennsylvania

Economic

Development

Financing

Authority,

Pennsylvania,

Private

Activity

Revenue

Bonds,

The

PennDOT

Major

Bridges

Package

One

Project,

Series

2022

-

AGM

Insured,

(AMT)

.000

12/31/57

3,043,013

12,170,000

Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

Capital

Appreciation

Series

2009E

.375

12/01/38

12,861,858

2,845,000

Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

First

Series

2024

.000

12/01/42

3,190,995

500,000

Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

Refunding

Subordinate

First

Series

2025

.000

12/01/40

574,299

1,215,000

(b) Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

Series

2022B,

(UB)

.250

12/01/47

1,298,990

2,365,000

(b) Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

Series

2022B,

(UB)

.250

12/01/52

2,498,236

11,500,000

(b) Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

Series

2023A,

(UB)

.000

12/01/48

12,150,094

2,005,000

Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

Subordinate

Series

2009C

-

AGM

Insured

.250

06/01/33

2,023,827

1,435,000

Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

Subordinate

Series

2017B-1

.000

06/01/31

1,483,688

1,430,000

Pennsylvania

Turnpike

Commission,

Turnpike

Revenue

Bonds,

Subordinate

Series

2017B-1

.000

06/01/33

1,475,017

780,000

Philadelphia,

Pennsylvania,

Airport

Revenue

Bonds,

Refunding

Series

2017A

-

AGM

Insured

.000

07/01/34

767,827

1,490,000

Philadelphia,

Pennsylvania,

Airport

Revenue

Bonds,

Refunding

Series

2017B,

(AMT)

.000

07/01/47

1,499,314

1,470,000

Philadelphia,

Pennsylvania,

Airport

Revenue

Bonds,

Refunding

Series

2020C,

(AMT)

.000

07/01/50

1,306,896

1,625,000

Philadelphia,

Pennsylvania,

Airport

Revenue

Bonds,

Refunding

Series

2025B,

(AMT)

.000

07/01/35

1,887,142

1,740,000

Philadelphia,

Pennsylvania,

Airport

Revenue

Bonds,

Refunding

Series

2025B,

(AMT)

.000

07/01/39

1,950,463

1,000,000

Pittsburgh

and

Allegheny

County

Sports

and

Exhibition

Authority,

Pennsylvania,

Parking

Revenue

Bonds,

Series

2017

.000

12/15/30

1,041,727

550,000

Pittsburgh

and

Allegheny

County

Sports

and

Exhibition

Authority,

Pennsylvania,

Parking

Revenue

Bonds,

Series

2017

.000

12/15/34

568,967

1,250,000

Pittsburgh

and

Allegheny

County

Sports

and

Exhibition

Authority,

Pennsylvania,

Parking

Revenue

Bonds,

Series

2017

.000

12/15/37

1,285,148

TOTAL

TRANSPORTATION

82,015,265

U.S.

GUARANTEED

-

3.0%

(g)(1.8%

of

Total

Investments)

455,000

Allegheny

County

Higher

Education

Building

Authority,

Pennsylvania,

College

Revenue

Refunding

Bonds,

Robert

Morris

College,

Series

1998A,

(ETM)

.000

05/01/28

474,172

735,000

Allegheny

County

Higher

Education

Building

Authority,

Pennsylvania,

Revenue

Bonds,

Robert

Morris

University,

Series

2016,

(Pre-refunded

10/15/26)

.000

10/15/30

738,230

1,000,000

Allegheny

County

Higher

Education

Building

Authority,

Pennsylvania,

Revenue

Bonds,

Robert

Morris

University,

Series

2016,

(Pre-refunded

10/15/26)

.000

10/15/38

1,016,741

1,625,000

Allegheny

County

Higher

Education

Building

Authority,

Pennsylvania,

Revenue

Bonds,

Robert

Morris

University,

Series

2017,

(Pre-refunded

10/15/27)

.000

10/15/47

1,695,926

135,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Diakon

Lutheran

Social

Ministries

Project,

Series

2019A,

(Pre-refunded

1/01/29)

.000

01/01/39

144,798

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NQP

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

U.S.

GUARANTEED

(g) (continued)

$

1,075,000

Cumberland

County

Municipal

Authority,

Pennsylvania,

Revenue

Bonds,

Diakon

Lutheran

Social

Ministries

Project,

Series

2019A,

(Pre-refunded

1/01/29)

.000

%

01/01/39

$

1,153,025

430,000

Doylestown

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Series

2016A,

(Pre-refunded

7/01/26)

.000

07/01/41

433,490

120,000

Doylestown

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Series

2019A,

(Pre-refunded

7/01/29)

.000

07/01/45

125,764

150,000

Doylestown

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Series

2019A,

(Pre-refunded

7/01/29)

.000

07/01/49

161,969

2,350,000

Monroe

County

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Pocono

Medical

Center,

Series

2016,

(Pre-

refunded

7/01/26)

.000

07/01/41

2,372,212

140,000

(a),(c)

Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

Revenue

Bonds,

University

of

the

Arts,

Series

2017,

(Pre-refunded

3/15/28)

.000

03/15/45

147,799

4,140,000

Pottsville

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Lehigh

Valley

Health

Network,

Series

2016B,

(Pre-

refunded

1/01/27)

.000

07/01/45

4,238,273

1,335,000

Saint

Mary

Hospital

Authority,

Pennsylvania,

Hospital

Revenue

Bonds,

Trinity

Health

Credit

Group,

Refunding

Series

2019PA,

(Pre-refunded

12/01/28)

.000

12/01/48

1,432,805

TOTAL

U.S.

GUARANTEED

14,135,204

UTILITIES

-

22.7%

(13.7%

of

Total

Investments)

1,000,000

Allegheny

County

Sanitary

Authority,

Pennsylvania,

Sewer

Revenue

Bonds,

Series

2018

.000

06/01/43

1,033,318

4,165,000

(b) Allegheny

County

Sanitary

Authority,

Pennsylvania,

Sewer

Revenue

Bonds,

Series

2022,

(UB)

.000

06/01/53

4,315,476

2,625,000

Allegheny

County

Sanitary

Authority,

Pennsylvania,

Sewer

Revenue

Bonds,

Series

2025

.000

12/01/45

2,843,277

3,925,000

Allegheny

County

Sanitary

Authority,

Pennsylvania,

Sewer

Revenue

Bonds,

Series

2025

.000

12/01/50

4,131,496

6,500,000

(d) Beaver

County

Industrial

Development

Authority,

Pennsylvania,

Pollution

Control

Revenue

Bonds,

FirstEnergy

Generation

Project,

Refunding

Series

2006A,

(Mandatory

Put

7/01/33)

.750

01/01/35

7,009,046

2,000,000

Bethel

Park

Municipal

Authority,

Pennsylvania,

Guaranteed

Sewer

Revenue

Bonds,

Series

2020B

.000

09/01/47

1,553,920

7,000,000

(b) Bucks

County

Water

and

Sewer

Authority,

Pennsylvania,

Sewer

System

Revenue

Bonds,

Series

2022A

-

AGM

Insured,

(UB)

.250

12/01/47

6,995,468

1,090,000

Bucks

County

Water

and

Sewer

Authority,

Pennsylvania,

Water

System

Revenue

Bonds,

Series

2024

.000

12/01/43

1,114,288

1,150,000

Bucks

County

Water

and

Sewer

Authority,

Pennsylvania,

Water

System

Revenue

Bonds,

Series

2024

.000

12/01/46

1,124,829

2,345,000

Canonsburg-Houston

Joint

Authority,

Washington

County,

Pennsylvania,

Sewer

Revenue

Bonds,

Series

2025

.000

12/01/37

2,650,183

1,110,000

Delaware

County

Regional

Water

Quality

Control

Authority,

Pennsylvania,

Sewer

Revenue

Bonds,

Series

2015

.000

05/01/40

1,111,702

855,000

Delaware

County

Regional

Water

Quality

Control

Authority,

Pennsylvania,

Sewer

Revenue

Bonds,

Series

2015

.000

05/01/45

854,956

540,000

Erie

Sewer

Authority,

Erie

County,

Pennsylvania,

Sewer

Revenue

Bonds,

Series

2025

-

BAM

Insured

.000

12/01/42

583,044

7,295,000

Lehigh

County

Authority,

Pennsylvania,

Water

and

Sewer

Revenue

Bonds,

Allentown

Concession,

Capital

Appreciation

Series

2013B

.000

12/01/34

5,558,456

4,420,000

Lehigh

County

Authority,

Pennsylvania,

Water

and

Sewer

Revenue

Bonds,

Allentown

Concession,

Capital

Appreciation

Series

2013B

.000

12/01/35

3,221,118

2,000,000

Lehigh

County

Authority,

Pennsylvania,

Water

and

Sewer

Revenue

Bonds,

Allentown

Concession,

Series

2024

-

BAM

Insured

.000

12/01/46

1,946,017

295,000

(d) Luzerne

County

Industrial

Development

Authority,

Pennsylvania,

Revenue

Bonds,

Pennsylvania-American

Water

Company

Project,

Refunding

Series

2019,

(AMT),

(Mandatory

Put

12/03/29)

.450

12/01/39

277,017

See

Notes

to

Financial

Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

4,440,000

Pennsylvania

Economic

Development

Financing

Authority,

Exempt

Facilities

Revenue

Bonds,

York

Water

Company

Project,

Refunding

Series

2019A,

(AMT)

.000

%

10/01/36

$

4,377,005

3,900,000

Pennsylvania

Economic

Development

Financing

Authority,

Exempt

Facilities

Revenue

Bonds,

York

Water

Company

Project,

Refunding

Series

2019B,

(AMT)

.100

11/01/38

3,794,867

10,500,000

Pennsylvania

Economic

Development

Financing

Authority,

Revenue

Bonds,

Pennsylvania-American

Water

Company,

Refunding

Series

2019

.000

04/01/39

9,880,672

2,000,000

Philadelphia

Gas

Works,

Pennsylvania,

Revenue

Bonds,

1998

General

Ordinance,

Fifteenth

Series

2017

.000

08/01/37

2,051,924

1,000,000

Philadelphia

Gas

Works,

Pennsylvania,

Revenue

Bonds,

1998

General

Ordinance,

Sixteenth

Series

2020A

-

AGM

Insured

.000

08/01/50

1,031,466

7,000,000

Philadelphia,

Pennsylvania,

Water

and

Wastewater

Revenue

Bonds,

Series

2018A

.000

10/01/48

7,148,839

4,175,000

Philadelphia,

Pennsylvania,

Water

and

Wastewater

Revenue

Bonds,

Series

2018A

.000

10/01/53

4,251,698

4,695,000

Philadelphia,

Pennsylvania,

Water

and

Wastewater

Revenue

Bonds,

Series

2022C

.500

06/01/47

5,055,263

12,000,000

(b) Philadelphia,

Pennsylvania,

Water

and

Wastewater

Revenue

Bonds,

Series

2023B

-

AGM

Insured,

(UB)

.500

09/01/48

12,177,170

3,250,000

Pittsburgh

Water

and

Sewer

Authority,

Pennsylvania,

Water

and

Sewer

System

Revenue

Bonds,

First

Lien

Series

2023A

-

AGM

Insured

.000

09/01/48

3,407,641

2,630,000

Pittsburgh

Water

and

Sewer

Authority,

Pennsylvania,

Water

and

Sewer

System

Revenue

Bonds,

First

Lien

Series

2023A

-

AGM

Insured

.250

09/01/53

2,599,176

1,925,000

Pittsburgh

Water

and

Sewer

Authority,

Pennsylvania,

Water

and

Sewer

System

Revenue

Bonds,

First

Lien

Series

2025A

.000

09/01/55

2,000,500

1,295,000

Pittsburgh

Water

and

Sewer

Authority,

Pennsylvania,

Water

and

Sewer

System

Revenue

Bonds,

Refunding

First

Lien

Series

2023B

.000

09/01/36

1,488,879

450,000

University

Area

Joint

Authority,

Centre

County,

Pennsylvania,

Sewer

Revenue

Bonds,

Series

2025

-

BAM

Insured

.250

11/01/49

446,194

1,000,000

Westmoreland

County

Municipal

Authority,

Pennsylvania,

Municipal

Service

Revenue

Bonds,

Refunding

Series

2020

-

AGM

Insured

.450

08/15/37

879,001

TOTAL

UTILITIES

106,913,906

TOTAL

MUNICIPAL

BONDS

(Cost

$786,324,794)

774,643,314

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

X

VARIABLE

RATE

SENIOR

LOAN

INTERESTS

-

0.0% (0.0%

of

Total

Investments)

X

–

CAPITAL

GOODS

-

.0

%

(0

.0

%

of

Total

Investments)

$

64,338

(c),(f)

KDC

Agribusiness

Fairless

Hills

LLC

.000

09/17/26

$

TOTAL

CAPITAL

GOODS

TOTAL

VARIABLE

RATE

SENIOR

LOAN

INTERESTS

(Cost

$64,338)

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$786,389,132)

774,643,320

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

-

1.2%

(0.7%

of

Total

Investments)

X

5,500,000

MUNICIPAL

BONDS

-

1.2% (0.7%

of

Total

Investments)

X

–

HEALTH

CARE

-

0.7%

(0.4%

of

Total

Investments)

$

3,000,000

(h) Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

Hospital

Revenue

Bonds,

The

Children's

Hospital

of

Philadelphia,

Series

2024B-1

.850

07/01/54

$

3,000,000

TOTAL

HEALTH

CARE

3,000,000

#### Portfolio

#### of

#### Investments

#### February

#### 28,

#### 2026
(continued)

#### NQP

See

Notes

to

Financial

Statements

All

percentages

shown

in

the

Portfolio

of

Investments

are

based

on

net

assets

applicable

to

common

shares

unless

otherwise

noted.

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

-

0.5%

(0.3%

of

Total

Investments)

$

2,500,000

(h) Philadelphia

Authority

for

Industrial

Development,

Pennsylvania,

Multi-Modal

Lease

Revenue

Bonds,

Refunding

Series

2007B-2

.880

%

10/01/30

$

2,500,000

TOTAL

TAX

OBLIGATION/LIMITED

2,500,000

TOTAL

MUNICIPAL

BONDS

(Cost

$5,500,000)

5,500,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$5,500,000)

5,500,000

TOTAL

INVESTMENTS

-

165.8%

(Cost

$791,889,132)

780,143,320

FLOATING

RATE

OBLIGATIONS

-

(22.7)%

(106,940,000)

VRDP

SHARES,

NET

-

(46.1)%

(i) (216,923,225)

OTHER

ASSETS

&

LIABILITIES,

NET

-

3.0%

14,323,440

NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

-

100%

$

470,603,535

AMT

Alternative

Minimum

Tax

ETM

Escrowed

to

maturity

UB

Underlying

bond

of

an

inverse

floating

rate

trust

reflected

as

a

financing

transaction.

Inverse

floating

rate

trust

is

a

Recourse

Trust

unless

otherwise

noted.

(a) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

fiscal

period,

the

aggregate

value

of

these

securities

is

$6,631,310

or

0.9%

of

Total

Investments.

(b) Investment,

or

portion

of

investment,

has

been

pledged

to

collateralize

the

net

payment

obligations

for

investments

in

inverse

floating

rate

transactions.

(c) Defaulted

security.

A

security

whose

issuer

has

failed

to

fully

pay

principal

and/or

interest

when

due,

or

is

under

the

protection

of

bankruptcy.

(d) Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

when

applicable. For

mortgage-backed

or

asset-backed

securities

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(e) Step-up

coupon

bond,

a

bond

with

a

coupon

that

increases

("steps

up"),

usually

at

regular

intervals,

while

the

bond

is

outstanding.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

fiscal

period.

(f) For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. (g) Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(h) Investment

has

a

maturity

of

greater

than

one

year,

but

has

variable

rate

and/or

demand

features

which

qualify

it

as

a

short-term

investment.

The

rate

disclosed,

as

well

as

the

reference

rate

and

spread,

where

applicable,

is

that

in

effect

as

of

the

end

of

the

reporting

period.

This

rate

changes

periodically

based

on

market

conditions

or

a

specified

market

index.

(i) VRDP

Shares,

Net

as

a

percentage

of

Total

Investments

is

27.8%.

#### Statement

#### of

#### Assets

#### and

#### Liabilities
See

Notes

to

Financial

Statements

February

28,

2026

(Unaudited)

NAZ

NKX

NCA

NAC

NXJ

NRK

ASSETS

Long-term

investments,

at

value

†

$

241,493,836

$

1,068,061,453

$

306,161,108

$

3,022,049,630

$

902,353,072

$

1,589,239,708

Short-term

investments,

at

value

◊

–

–

–

35,000,000

3,500,000

19,280,000

Cash

216,371

13,073,770

1,220,467

17,319,041

1,167,376

24,419,554

Receivables:

Interest

2,169,993

12,498,996

2,887,165

33,627,177

9,737,403

19,028,631

Investments

sold

–

20,000

–

1,280,476

1,250,000

–

Shares

sold

128,547

861,894

–

1,294,080

–

–

Deferred

offering

costs

3,347

71,069

–

85,528

–

–

Other

10,795

247,521

16,725

582,113

71,229

516,179

Total

assets

244,022,889

1,094,834,703

310,285,465

3,111,238,045

918,079,080

1,652,484,072

LIABILITIES

Floating

rate

obligations

–

33,485,000

–

68,590,000

63,850,000

13,480,000

AMTP

Shares,

Net

\*

88,276,062

–

–

–

–

–

MFP

Shares,

Net

\*\*

–

140,070,493

–

256,956,885

–

79,642,926

VRDP

Shares,

Net

\*\*\*

–

255,801,320

–

881,741,949

312,862,377

582,413,543

Payables:

Management

fees

109,791

478,582

118,075

1,296,713

394,975

714,418

Dividends

803,591

3,870,462

920,345

11,051,766

2,922,641

5,710,201

Interest

745,832

1,455,729

1,009,500

330,592

Investments

purchased

-

regular

settlement

—

–

–

1,517,213

–

–

Investments

purchased

-

when-issued/delayed-

delivery

settlement

2,220,639

–

–

21,552,384

–

–

Accrued

expenses:

Custodian

fees

38,420

94,272

38,061

246,065

94,211

145,381

Investor

relations

fees

3,247

12,555

3,826

32,639

13,012

22,316

Trustees

fees

6,050

74,007

20,315

243,659

68,246

136,177

Professional

fees

16,756

14,801

16,750

16,132

14,874

10,589

Shareholder

reporting

expenses

6,046

19,427

11,351

32,645

13,912

21,890

Shareholder

servicing

agent

fees

5,232

3,538

3,421

13,950

8,824

14,874

Shelf

offering

costs

–

10,546

–

23,598

–

–

Other

813

10,267

819

14,764

716,732

55,448

Total

liabilities

91,486,696

434,691,102

1,133,072

1,244,786,091

381,969,304

682,698,355

Commitments

and

contingencies

(1) Net

assets

applicable

to

common

shares

$

152,536,193

$

660,143,601

$

309,152,393

$

1,866,451,954

$

536,109,776

$

969,785,717

Common

shares

outstanding

12,809,651

53,443,804

33,111,526

156,326,698

41,232,935

87,235,304

Net

asset

value

("NAV")

per

common

share

outstanding

$

11.91 $

12.35 $

9.34 $

11.94 $

13.00 $

11.12 NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

CONSIST

OF:

Common

shares,

$0.01

par

value

per

share

$

128,097

$

534,438

$

331,115

$

1,563,267

$

412,329

$

872,353

Paid-in

capital

163,536,671

682,450,536

312,906,535

2,019,468,362

559,289,658

1,130,811,326

Total

distributable

earnings

(loss)

(11,128,575)

(22,841,373)

(4,085,257)

(154,579,675)

(23,592,211)

(161,897,962)

Net

assets

applicable

to

common

shares

$

152,536,193

$

660,143,601

$

309,152,393

$

1,866,451,954

$

536,109,776

$

969,785,717

Authorized

shares:

Common

Unlimited

Unlimited

Unlimited

Unlimited

Unlimited

Unlimited

Preferred

Unl

imited

Unlimited

—

Unlimited

Unlimited

Unlimited

†

Long-term

investments,

cost

$

241,084,753

$

1,041,000,688

$

298,921,460

$

2,975,351,889

$

896,815,625

$

1,567,687,240

◊

Short-term

investments,

cost

$

—

$

—

$

—

$

35,000,000

$

3,500,000

$

19,280,000

\*

AMTP

Shares,

liquidation

preference

$

88,300,000

$

–

$

–

$

–

$

–

$

–

\*\*

MFP

Shares,

liquidation

preference

$

–

$

140,400,000

$

–

$

257,000,000

$

–

$

80,000,000

\*\*\*

&nbsp;&nbsp;&nbsp;&nbsp;VRDP

Shares,

liquidation

preference

$

–

$

256,700,000

$

–

$

883,800,000

$

313,900,000

$

583,800,000

#### Statement

#### of

#### Assets

#### and

#### Liabilities
(continued)

See

Notes

to

Financial

Statements

February

28,

2026

(Unaudited)

NNY

NAN

NQP

ASSETS

Long-term

investments,

at

value

†

$

166,880,635

$

602,188,131

$

774,643,320

Short-term

investments,

at

value

◊

–

–

5,500,000

Cash

981,130

6,915,039

–

Receivables:

Interest

2,022,503

8,436,351

10,881,370

Investments

sold

–

30,000

1,500,000

Shares

sold

–

250,086

–

Sale

of

Vistra

Vision

interest

#

(2) –

–

10,433,641

Deferred

offering

costs

–

54,810

–

Other

1,074

104,253

62,038

Total

assets

169,885,342

617,978,670

803,020,369

LIABILITIES

Cash

overdraft

–

–

2,488,220

Floating

rate

obligations

–

28,840,000

106,940,000

AMTP

Shares,

Net

\*

–

126,973,221

–

VRDP

Shares,

Net

\*\*\*

–

88,363,758

216,923,225

Payables:

Management

fees

65,474

274,040

352,684

Dividends

524,177

2,112,688

2,658,837

Interest

720,534

2,052,422

Vistra

Vision

sale

transactions

costs

(2) –

–

240,958

Accrued

expenses:

Custodian

fees

27,693

60,765

82,624

Investor

relations

fees

2,668

8,838

11,578

Trustees

fees

4,317

42,439

61,809

Professional

fees

16,785

13,874

14,973

Shareholder

reporting

expenses

7,632

11,780

12,262

Shareholder

servicing

agent

fees

3,556

10,632

11,217

Other

552

566,025

Total

liabilities

652,687

247,433,121

332,416,834

Commitments

and

contingencies

(1) Net

assets

applicable

to

common

shares

$

169,232,655

$

370,545,549

$

470,603,535

Common

shares

outstanding

18,886,052

31,947,851

37,217,802

Net

asset

value

("NAV")

per

common

share

outstanding

$

8.96 $

11.60 $

12.64 NET

ASSETS

APPLICABLE

TO

COMMON

SHARES

CONSIST

OF:

Common

shares,

$0.01

par

value

per

share

$

188,861

$

319,479

$

372,178

Paid-in

capital

178,431,300

432,875,602

501,380,791

Total

distributable

earnings

(loss)

(9,387,506)

(62,649,532)

(31,149,434)

Net

assets

applicable

to

common

shares

$

169,232,655

$

370,545,549

$

470,603,535

Authorized

shares:

Common

Unlimited

Unlimited

Unlimited

Preferred

—

Unlimited

Unlimited

†

Long-term

investments,

cost

$

165,298,076

$

597,612,009

$

786,389,132

◊

Short-term

investments,

cost

$

—

$

—

$

5,500,000

\*

AMTP

Shares,

liquidation

preference

$

–

$

127,000,000

$

–

\*\*\*

&nbsp;&nbsp;&nbsp;&nbsp;VRDP

Shares,

liquidation

preference

$

–

$

89,000,000

$

217,500,000

#

Net

of

discount

of

$

–

$

–

$

518,992

(1) As

disclosed

in

Notes

to

Financial

Statements.

(2) Refer

to

Note

of

the

Notes

to

Financial

Statements

for

more

information.

#### Statement

#### of

#### Operations
See

Notes

to

Financial

Statements

Six

Months

Ended

February

28,

2026

(Unaudited)

NAZ

NKX

NCA

NAC

NXJ

INVESTMENT

INCOME

Interest

$

4,930,710

$

23,735,012

$

6,667,533

$

67,427,786

$

18,208,637

Total

investment

income

4,930,710

23,735,012

6,667,533

67,427,786

18,208,637

EXPENSES

–

–

–

–

–

Management

fees

694,203

3,003,731

734,298

8,168,695

2,545,856

Shareholder

servicing

agent

fees

7,666

5,201

4,315

17,499

11,116

Interest

expense

and

amortization

of

offering

costs

1,496,009

5,679,507

18,810,530

6,408,877

Trustees

fees

6,929

30,756

9,056

87,218

25,457

Custodian

expenses,

net

16,304

39,894

16,144

104,029

39,885

Investor

relations

expenses

10,713

43,843

7,790

113,586

44,080

Liquidity

fees

—

983,372

—

1,891,308

—

Merger

expenses

—

—

—

—

1,145,000

Professional

fees

28,165

73,617

23,937

80,542

56,907

Remarketing

fees

—

330,450

—

250,334

—

Shareholder

reporting

expenses

10,735

28,570

15,935

40,807

23,468

Stock

exchange

listing

fees

3,827

7,459

5,208

22,693

6,469

Other

30,836

68,207

5,989

91,780

44,076

Total

expenses

2,305,387

10,294,607

823,082

29,679,021

10,351,191

Net

investment

income

(loss)

2,625,323

13,440,405

5,844,451

37,748,765

7,857,446

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Realized

gain

(loss)

from:

Investments

(786,395)

(9,952)

(204,401)

(1,071,725)

Net

realized

gain

(loss)

(786,395)

(9,952)

(204,401)

(1,071,725)

Change

in

unrealized

appreciation

(depreciation)

on:

Investments

11,868,868

49,759,277

16,012,720

159,445,285

43,525,981

Net

change

in

unrealized

appreciation

(depreciation)

11,868,868

49,759,277

16,012,720

159,445,285

43,525,981

Net

realized

and

unrealized

gain

(loss)

11,869,366

48,972,882

16,002,768

159,240,884

42,454,256

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

operations

$

14,494,689

$

62,413,287

$

21,847,219

$

196,989,649

$

50,311,702

#### Statement

#### of

#### Operations
(continued)

See

Notes

to

Financial

Statements

Six

Months

Ended

February

28,

2026

(Unaudited)

NRK

NNY

NAN

NQP

INVESTMENT

INCOME

Interest

$

38,047,423

$

3,784,199

$

14,230,195

$

16,485,633

Total

investment

income

38,047,423

3,784,199

14,230,195

16,485,633

EXPENSES

–

–

–

–

Management

fees

4,587,830

410,098

1,758,996

2,262,937

Shareholder

servicing

agent

fees

18,714

4,455

14,658

14,296

Interest

expense

and

amortization

of

offering

costs

8,743,744

5,019

3,782,916

5,219,161

Trustees

fees

48,415

4,978

17,461

21,134

Custodian

expenses,

net

61,490

11,764

25,735

34,979

Investor

relations

expenses

69,288

4,519

28,969

41,227

Liquidity

fees

2,248,993

—

364,600

—

Merger

expenses

—

—

—

1,090,000

Professional

fees

64,385

22,781

47,658

62,932

Remarketing

fees

370,438

—

22,497

—

Shareholder

reporting

expenses

22,440

10,563

15,244

23,597

Stock

exchange

listing

fees

13,675

3,827

4,835

5,837

Other

32,988

5,302

47,455

39,782

Total

expenses

16,282,400

483,306

6,131,024

8,815,882

Net

investment

income

(loss)

21,765,023

3,300,893

8,099,171

7,669,751

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

Realized

gain

(loss)

from:

Investments

(1,773,623)

897

(499,044)

(623,749)

Net

realized

gain

(loss)

(1,773,623)

897

(499,044)

(623,749)

Change

in

unrealized

appreciation

(depreciation)

on:

Investments

87,142,471

8,034,344

28,532,642

41,327,702

Net

change

in

unrealized

appreciation

(depreciation)

87,142,471

8,034,344

28,532,642

41,327,702

Net

realized

and

unrealized

gain

(loss)

85,368,848

8,035,241

28,033,598

40,703,953

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

operations

$

107,133,871

$

11,336,134

$

36,132,769

$

48,373,704

#### Statement

#### of

#### Changes

#### in

#### Net

#### Assets
See

Notes

to

Financial

Statements

NAZ

NKX

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

OPERATIONS

Net

investment

income

(loss)

$

2,625,323

$

4,665,578

$

13,440,405

$

24,051,254

Net

realized

gain

(loss)

(831,469)

(786,395)

(3,750,023)

Net

change

in

unrealized

appreciation

(depreciation)

11,868,868

(11,152,391)

49,759,277

(57,718,350)

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

operations

14,494,689

(7,318,282)

62,413,287

(37,417,119)

DISTRIBUTIONS

TO

COMMON

SHAREHOLDERS

Dividends

(4,876,178)

(4,670,083)

(23,536,679)

(23,818,712)

Return

of

Capital

–

(5,502,803)

–

(20,059,831)

Total

distributions

(4,876,178)

(10,172,886)

(23,536,679)

(43,878,543)

CAPITAL

SHARE

TRANSACTIONS

Common

shares:

Proceeds

from

shelf

offering,

net

of

offering

costs

8,169,886

5,699,157

45,922,859

24,501,438

Reinvestments

of

distributions

166,900

199,112

943,675

1,748,791

Net

increase

(decrease)

applicable

to

common

shares

from

capital

share

transactions

8,336,786

5,898,269

46,866,534

26,250,229

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

17,955,297

(11,592,899)

85,743,142

(55,045,433)

Net

assets

applicable

to

common

shares

at

the

beginning

of

period

134,580,896

146,173,795

574,400,459

629,445,892

Net

assets

applicable

to

common

shares

at

the

end

of

period

$

152,536,193

$

134,580,896

$

660,143,601

$

574,400,459

See

Notes

to

Financial

Statements

#### Statement

#### of

#### Changes

#### in

#### Net

#### Assets
(continued)

NCA

NAC

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

OPERATIONS

Net

investment

income

(loss)

$

5,844,451

$

11,539,868

$

37,748,765

$

69,149,547

Net

realized

gain

(loss)

(9,952)

(764,730)

(204,401)

(11,056,790)

Net

change

in

unrealized

appreciation

(depreciation)

16,012,720

(17,888,504)

159,445,285

(176,332,870)

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

operations

21,847,219

(7,113,366)

196,989,649

(118,240,113)

DISTRIBUTIONS

TO

COMMON

SHAREHOLDERS

Dividends

(5,760,923)

(11,521,652)

(66,283,033)

(68,173,750)

Return

of

Capital

–

–

–

(59,498,838)

Total

distributions

(5,760,923)

(11,521,652)

(66,283,033)

(127,672,588)

CAPITAL

SHARE

TRANSACTIONS

Common

shares:

Proceeds

from

shelf

offering,

net

of

offering

costs

—

—

122,855,185

11,173,911

Reinvestments

of

distributions

30,770

—

1,542,273

—

Net

increase

(decrease)

applicable

to

common

shares

from

capital

share

transactions

30,770

—

124,397,458

11,173,911

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

16,117,066

(18,635,018)

255,104,074

(234,738,790)

Net

assets

applicable

to

common

shares

at

the

beginning

of

period

293,035,327

311,670,345

1,611,347,880

1,846,086,670

Net

assets

applicable

to

common

shares

at

the

end

of

period

$

309,152,393

$

293,035,327

$

1,866,451,954

$

1,611,347,880

See

Notes

to

Financial

Statements

NXJ

NRK

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

OPERATIONS

Net

investment

income

(loss)

$

7,857,446

$

16,989,521

$

21,765,023

$

40,509,089

Net

realized

gain

(loss)

(1,071,725)

(2,866,267)

(1,773,623)

(2,530,510)

Net

change

in

unrealized

appreciation

(depreciation)

43,525,981

(33,829,130)

87,142,471

(115,012,924)

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

operations

50,311,702

(19,705,876)

107,133,871

(77,034,345)

DISTRIBUTIONS

TO

COMMON

SHAREHOLDERS

Dividends

(19,420,712)

(16,622,814)

(36,115,416)

(39,862,750)

Return

of

Capital

–

(22,218,611)

–

(32,368,083)

Total

distributions

(19,420,712)

(38,841,425)

(36,115,416)

(72,230,833)

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

30,890,990

(58,547,301)

71,018,455

(149,265,178)

Net

assets

applicable

to

common

shares

at

the

beginning

of

period

505,218,786

563,766,087

898,767,262

1,048,032,440

Net

assets

applicable

to

common

shares

at

the

end

of

period

$

536,109,776

$

505,218,786

$

969,785,717

$

898,767,262

See

Notes

to

Financial

Statements

#### Statement

#### of

#### Changes

#### in

#### Net

#### Assets
(continued)

NNY

NAN

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

OPERATIONS

Net

investment

income

(loss)

$

3,300,893

$

6,698,335

$

8,099,171

$

15,165,340

Net

realized

gain

(loss)

897

(163,189)

(499,044)

(1,953,164)

Net

change

in

unrealized

appreciation

(depreciation)

8,034,344

(9,797,640)

28,532,642

(36,361,886)

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

operations

11,336,134

(3,262,494)

36,132,769

(23,149,710)

DISTRIBUTIONS

TO

COMMON

SHAREHOLDERS

Dividends

(3,342,831)

(6,685,663)

(13,608,994)

(14,970,712)

Return

of

Capital

–

–

–

(11,680,591)

Total

distributions

(3,342,831)

(6,685,663)

(13,608,994)

(26,651,303)

CAPITAL

SHARE

TRANSACTIONS

Common

shares:

Proceeds

from

shelf

offering,

net

of

offering

costs

—

—

9,830,981

1,811,164

Reinvestments

of

distributions

—

—

444,870

444,021

Net

increase

(decrease)

applicable

to

common

shares

from

capital

share

transactions

—

—

10,275,851

2,255,185

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

7,993,303

(9,948,157)

32,799,626

(47,545,828)

Net

assets

applicable

to

common

shares

at

the

beginning

of

period

161,239,352

171,187,509

337,745,923

385,291,751

Net

assets

applicable

to

common

shares

at

the

end

of

period

$

169,232,655

$

161,239,352

$

370,545,549

$

337,745,923

See

Notes

to

Financial

Statements

NQP

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

OPERATIONS

Net

investment

income

(loss)

$

7,669,751

$

15,728,114

Net

realized

gain

(loss)

(623,749)

4,043,590

Net

change

in

unrealized

appreciation

(depreciation)

41,327,702

(54,001,323)

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

operations

48,373,704

(34,229,619)

DISTRIBUTIONS

TO

COMMON

SHAREHOLDERS

Dividends

(17,417,932)

(16,596,680)

Return

of

Capital

–

(18,239,183)

Total

distributions

(17,417,932)

(34,835,863)

Net

increase

(decrease)

in

net

assets

applicable

to

common

shares

30,955,772

(69,065,482)

Net

assets

applicable

to

common

shares

at

the

beginning

of

period

439,647,763

508,713,245

Net

assets

applicable

to

common

shares

at

the

end

of

period

$

470,603,535

$

439,647,763

#### Statement

#### of

#### Cash

#### Flows
See

Notes

to

Financial

Statements

Six

Months

Ended

February

28,

2026

(Unaudited)

NAZ

NKX

NAC

NXJ

NRK

CASH

FLOWS

FROM

OPERATING

ACTIVITIES

Net

Increase

(Decrease)

in

Net

Assets

Applicable

to

Common

Shares

from

Operations

$

14,494,689

$

62,413,287

$

196,989,649

$

50,311,702

$

107,133,871

Adjustments

to

reconcile

the

net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

operations

to

net

cash

provided

by

(used

in)

operating

activities:

Purchases

of

investments

(15,294,714)

(116,516,081)

(168,530,535)

(20,056,514)

(94,157,026)

Proceeds

from

sale

and

maturities

of

investments

3,202,000

89,693,805

91,475,907

35,102,646

123,236,800

Proceeds

from

(Purchase

of)

short-term

investments,

net

—

16,000,000

(11,400,000)

(1,540,000)

8,720,000

Amortization

(Accretion)

of

premiums

and

discounts,

net

500,994

(1,971,554)

(2,071,533)

(647,373)

(1,726,600)

Amortization

of

deferred

offering

costs

178,496

454,233

376,653

29,894

53,202

(Increase)

Decrease

in:

Receivable

for

interest

30,877

(1,678,870)

(2,465,788)

(744,862)

(20,423)

Receivable

for

investments

sold

4,060,807

1,410,000

3,659,524

(825,000)

4,020,000

Other

assets

14,494

(2,346)

(5,265)

(641) 13,958

Increase

(Decrease)

in:

Payable

for

interest

(2) 427,574

1,021,601

532,907

279,092

Payable

for

investments

purchased

-

regular

settlement

—

—

1,517,213

—

—

Payable

for

investments

purchased

-

when-issued/delayed-delivery

settlement

1,783,403

(3,699,930)

13,303,984

—

—

Payable

for

management

fees

(3,879)

(5,818)

(37,105)

(30,358)

(44,903)

Accrued

custodian

fees

16,210

39,798

103,934

39,790

61,394

Accrued

investor

relations

fees

(770) (3,135)

(13,214)

(1,272)

(6,739)

Accrued

Trustees

fees

689

(691) (10,238)

(2,017)

(4,685)

Accrued

professional

fees

(16,529)

(18,835)

(8,900)

(815) (19,541)

Accrued

shareholder

reporting

expenses

(2,170)

(2,050)

(14,578)

(9,122)

3,241

Accrued

shareholder

servicing

agent

fees

1,201

801

4,122

2,645

4,416

Accrued

shelf

offering

costs

—

10,546

(66,402)

—

—

Accrued

other

expenses

(8,432)

(16,719)

714,010

(31,357)

Net

realized

(gain)

loss

from

investments

(498) 786,395

204,401

1,071,725

1,773,623

Net

change

in

unrealized

(appreciation)

depreciation

of

investments

(11,868,868)

(49,759,277)

(159,445,285)

(43,525,981)

(87,142,471)

Net

cash

provided

by

(used

in)

operating

activities

(2,903,225)

(2,430,580)

(35,428,574)

20,421,364

62,145,852

CASH

FLOWS

FROM

FINANCING

ACTIVITIES

Proceeds

from

borrowings

5,633,391

24,300,000

17,627,850

13,793,734

45,541,585

(Repayments)

of

borrowings

(5,633,391)

(24,300,000)

(17,627,850)

(13,793,734)

(45,541,585)

Proceeds

from

floating

rate

obligations

—

—

24,000,000

—

—

(Repayments

for)

VRDP

Shares

redeemed,

at

liquidation

preference

—

—

(24,000,000)

—

—

(Payments

for)

deferred

offering

costs

(87,093)

(68,154)

(44,737)

—

—

Increase

(Decrease)

in:

Cash

overdraft

(86,330)

(7,197,693)

(4,812,185)

—

(1,599,330)

Cash

distributions

paid

to

common

shareholders

(4,748,320)

(22,290,768)

(63,956,568)

(19,454,288)

(36,126,968)

Proceeds

from

shelf

offering,

net

of

offering

costs

8,041,339

45,060,965

121,561,105

—

—

Net

cash

provided

by

(used

in)

financing

activities

3,119,596

15,504,350

52,747,615

(19,454,288)

(37,726,298)

Net

increase

(decrease)

in

cash

216,371

13,073,770

17,319,041

967,076

24,419,554

Cash

at

the

beginning

of

period

—

—

—

200,300

—

Cash

at

the

end

of

period

$

216,371

$

13,073,770

$

17,319,041

$

1,167,376

$

24,419,554

#### Statement

#### of

#### Cash

#### Flows
(continued)

See

Notes

to

Financial

Statements

e

Six

Months

Ended

February

28,

2026

(Unaudited)

NAN

NQP

CASH

FLOWS

FROM

OPERATING

ACTIVITIES

Net

Increase

(Decrease)

in

Net

Assets

Applicable

to

Common

Shares

from

Operations

$

36,132,769

$

48,373,704

Adjustments

to

reconcile

the

net

increase

(decrease)

in

net

assets

applicable

to

common

shares

from

operations

to

net

cash

provided

by

(used

in)

operating

activities:

Purchases

of

investments

(28,290,610)

(62,796,265)

Proceeds

from

sale

and

maturities

of

investments

30,758,598

68,864,082

Proceeds

from

(Purchase

of)

short-term

investments,

net

—

(5,500,000)

Amortization

(Accretion)

of

premiums

and

discounts,

net

334,336

386,490

Amortization

of

deferred

offering

costs

234,343

17,058

(Increase)

Decrease

in:

Receivable

for

interest

(712,622)

(1,010,293)

Receivable

for

investments

sold

—

(1,500,000)

Receivable

for

sale

of

Vistra

Vision

—

10,947,170

Other

assets

22,974

2,423

Increase

(Decrease)

in:

Payable

for

interest

504,227

1,203,891

Payable

for

management

fees

(16,340)

(28,130)

Payable

for

Vistra

Vision

sale

transactions

costs

—

(281,370)

Accrued

custodian

fees

25,640

34,888

Accrued

investor

relations

fees

(2,045)

Accrued

Trustees

fees

(334) (2,005)

Accrued

professional

fees

(15,787)

(15,096)

Accrued

shareholder

reporting

expenses

2,633

(11,492)

Accrued

shareholder

servicing

agent

fees

2,988

3,707

Accrued

shelf

offering

costs

(80,000)

—

Accrued

other

expenses

(18,232)

563,666

Net

realized

(gain)

loss

from

investments

499,044

623,749

Net

change

in

unrealized

(appreciation)

depreciation

of

investments

(28,532,642)

(41,327,702)

Net

cash

provided

by

(used

in)

operating

activities

10,848,940

18,548,522

CASH

FLOWS

FROM

FINANCING

ACTIVITIES

Proceeds

from

borrowings

4,952,582

2,700,000

(Repayments)

of

borrowings

(4,952,582)

(2,700,000)

(Payments

for)

deferred

offering

costs

(22,751)

—

Increase

(Decrease)

in:

Cash

overdraft

(388,631)

(1,112,613)

Cash

distributions

paid

to

common

shareholders

(13,103,414)

(17,435,909)

Proceeds

from

shelf

offering,

net

of

offering

costs

9,580,895

—

Net

cash

provided

by

(used

in)

financing

activities

(3,933,901)

(18,548,522)

Net

increase

(decrease)

in

cash

6,915,039

–

Cash

at

the

beginning

of

period

—

—

Cash

at

the

end

of

period

$

6,915,039

$

—

SUPPLEMENTAL

DISCLOSURE

OF

CASH

FLOW

INFORMATION

NAZ

NKX

NAC

NXJ

Cash

paid

for

interest

$

1,484,226

$

5,215,510

$

17,642,493

$

5,834,219

Non-cash

financing

activities

not

included

herein

consists

of

reinvestments

of

common

share

distributions

166,900

943,675

1,542,273

—

SUPPLEMENTAL

DISCLOSURE

OF

CASH

FLOW

INFORMATION

NRK

NAN

NQP

Cash

paid

for

interest

$

8,394,426

$

3,237,787

$

3,997,162

Non-cash

financing

activities

not

included

herein

consists

of

reinvestments

of

common

share

distributions

—

444,870

—

#### Financial

#### Highlights

Ratios

of

Interest

Expense

to

Average

Net

Assets

Applicable

to

Common

Shares

NAZ

2/28/26

(d) 2.08 %

(e) 8/31/25

2.43 8/31/24

(f) 2.61 (e) 2/29/24

2.74 2/28/23

1.57 2/28/22

0.48 2/28/21

0.68 NKX

2/28/26

(d) 2.25 (e) 8/31/25

2.68 8/31/24

(f) 2.96 (e) 2/29/24

2.99 2/28/23

1.76 2/28/22

0.49 2/28/21

0.74 The

following

data

is

for

a

common

share

outstanding for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

to

Common

Shareholders

Common

Share

Common

Share

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Return

of

Capital

Total

Discount

Per

Share

Repurchased

and

Retired

Premium

per

Share

Sold

through

Shelf

Offering

Net

Asset

Value,

End

of

Period

Share

Price,

End

of

Period

NAZ

2/28/26

(d) $

11.12 $

0.21 $

0.97 $

1.18 $

(0.39)

$

—

$

—

$

(0.39)

$

—

$

—

$

11.91 $

12.16 8/31/25

12.61 0.40 (1.02)

(0.62)

(0.40)

—

(0.47)

(0.87)

—

—

11.12 11.86 8/31/24

(f) 12.68 0.17 0.11 0.28 (0.21)

—

(0.14)

(0.35)

—

—

12.61 11.66 2/29/24

12.33 0.34 0.40 0.74 (0.38)

—

(0.01)

(0.39)

—

(g) —

12.68 10.83 2/28/23

14.50 0.47 (2.12)

(1.65)

(0.52)

—

—

(0.52)

—

—

12.33 11.30 2/28/22

15.07 0.61 (0.58)

0.03 (0.60)

—

—

(0.60)

—

—

14.50 13.78 2/28/21

15.56 0.61 (0.53)

0.08 (0.57)

—

—

(0.57)

—

—

15.07 15.17 NKX

2/28/26

(d) 11.56 0.26 0.99 1.25 (0.46)

—

—

(0.46)

—

—

12.35 12.90 8/31/25

13.25 0.50 (1.28)

(0.78)

(0.49)

—

(0.42)

(0.91)

—

—

11.56 11.82 8/31/24

(f) 13.33 0.22 0.08 0.30 (0.25)

—

(0.13)

(0.38)

—

—

13.25 13.34 2/29/24

12.99 0.46 0.39 0.85 (0.51)

—

—

(0.51)

—

—

13.33 11.48 2/28/23

15.64 0.56 (2.60)

(2.04)

(0.61)

—

—

(0.61)

—

—

12.99 11.72 2/28/22

16.48 0.68 (0.85)

(0.17)

(0.67)

—

—

(0.67)

—

—

15.64 14.15 2/28/21

17.27 0.66 (0.80)

(0.14)

(0.65)

—

—

(0.65)

—

—

16.48 15.13 (a) Based

on

average

shares

outstanding.

(b) Total

Return

Based

on

Common

Share

NAV

is

the

combination

of

changes

in

common

share

NAV,

reinvested

distributions

at

Common

Share

NAV,

if

any.

The

last

distribution

declared

in

the

period,

which

is

typically

paid

on

the

first

business

day

of

the

following

month,

is

assumed

to

be

reinvested

at

the

ending

NAV.

The

actual

reinvest

price

for

the

last

distribution

declared

in

the

period

may

often

be

based

on

the

Fund's

market

price

(and

not

its

NAV),

and

therefore

may

be

different

from

the

price

used

in

the

calculation.

Total

returns

are

not

annualized.

Total

Return

Based

on

Common

Share

Price

is

the

combination

of

changes

in

the

market

price

per

share

and

the

effect

of

reinvested

distributions,

if

any,

at

the

average

price

paid

per

share

at

the

time

of

reinvestment.

The

last

distribution

declared

in

the

period,

which

is

typically

paid

on

the

first

business

day

of

the

following

month,

is

assumed

to

be

reinvested

at

the

ending

market

price.

The

actual

reinvestment

for

the

last

distribution

declared

in

the

period

may

take

place

over

several

days,

and

in

some

instances

may

not

be

based

on

the

market

price,

so

the

actual

reinvestment

price

may

be

different

from

the

price

used

in

the

calculation.

Total

returns

are

not

annualized.

(c) • Net

Investment

Income

(Loss)

ratios

reflect

income

earned

and

expenses

incurred

on

assets

attributable

to

borrowings,

preferred

shares

and/or

reverse

repurchase

agreements

(as

described

in

Notes

to

Financial

Statements),

where

applicable.

• The

expense

ratios

reflect,

among

other

things,

all

interest

expense

and

other

costs

related

to

borrowings,

preferred

shares

and/or

reverse

repurchase

agreements

(as

described

in

Notes

to

Financial

Statements)

and/or

the

interest

expense

deemed

to

have

been

paid

by

the

Fund

on

the

floating

rate

certificates

issued

by

the

special

purpose

trusts

for

the

self-deposited

inverse

floaters

held

by

the

Fund

(as

described

in

Notes

to

Financial

Statements),

where

applicable,

as

follows:

See

Notes

to

Financial

Statements

Common

Share

Supplemental

Data/

Ratios

Applicable

to

Common

Shares

Common

Share

Total

Returns

Ratios

to

Average

Net

Assets

Based

on

Net

Asset

Value

(b) Based

on

Share

Price

(b) Net

Assets,

End

of

Period

(000) Expenses

(c) Net

Investment

Income

(Loss)

(c) Portfolio

Turnover

Rate

10.74 %

6.00 %

$

152,536

3.21 %

(e) 3.65 %

(e) 1

%

(5.10)

9.53 134,581

3.55 3.37 21

2.22 11.08 146,174

3.72 (e) 2.70 (e) 9

6.17 (0.56)

146,928

3.85 2.80 11

(11.40)

(14.48)

143,013

2.68 3.65 25

0.09 (5.49)

167,972

1.52 3.98 7

0.62 13.67 174,401

1.75 4.06 13

10.89 13.25 660,144

3.31 (e) 4.33 (e) 9

(6.12)

(4.64)

574,400

3.77 4.02 19

2.31 19.82 629,446

4.02 (e) 3.37 (e) 8

6.77 2.54 633,220

4.02 3.57 26

(13.14)

(13.15)

617,228

2.82 4.15 58

(1.19)

(2.44)

742,993

1.51 4.10 9

(0.77)

1.67 783,202

1.72 4.03 8

(d) Unaudited.

(e) Annualized.

(f) For

the

six

months

ended

August

31,

2024. Prior

to

March

1,

2024,

the

Fund's

fiscal

year

end

was

February

28/29th.

(g) Value

rounded

to

zero.

#### Financial

#### Highlights
(continued)

Ratios

of

Interest

Expense

to

Average

Net

Assets

Applicable

to

Common

Shares

NCA

2/28/26

(d) —

%

(e) 8/31/25

0.01 8/31/24

(f) —

(e) 2/29/24

—

2/28/23

—

2/28/22

—

2/28/21

—

NAC

2/28/26

(d) 2.41 (e) 8/31/25

2.78 8/31/24

(f) 2.99 (e) 2/29/24

3.04 2/28/23

1.73 2/28/22

0.55 2/28/21

0.74 The

following

data

is

for

a

common

share

outstanding for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

to

Common

Shareholders

Common

Share

Common

Share

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Return

of

Capital

Total

Discount

Per

Share

Repurchased

and

Retired

Net

Asset

Value,

End

of

Period

Share

Price,

End

of

Period

NCA

2/28/26

(d) $

8.85 $

0.18 $

0.48 $

0.66 $

(0.17)

$

—

$

—

$

(0.17)

$

—

$

9.34 $

9.62 8/31/25

9.41 0.35 (0.56)

(0.21)

(0.35)

—

—

(0.35)

—

8.85 8.52 8/31/24

(f) 9.40 0.17 0.01 0.18 (0.17)

—

—

(0.17)

—

9.41 8.97 2/29/24

9.22 0.35 0.18 0.53 (0.35)

—

—

(0.35)

—

9.40 8.77 2/28/23

10.32 0.33 (1.11)

(0.78)

(0.32)

—

—

(0.32)

—

9.22 8.72 2/28/22

10.66 0.31 (0.35)

(0.04)

(0.30)

—

—

(0.30)

—

10.32 9.53 2/28/21

11.05 0.32 (0.39)

(0.07)

(0.32)

—

—

(0.32)

—

10.66 10.21 NAC

2/28/26

(d) 11.06 0.25 1.07 1.32 (0.44)

—

—

(0.44)

—

11.94 12.06 8/31/25

12.76 0.48 (1.30)

(0.82)

(0.47)

—

(0.41)

(0.88)

—

11.06 11.23 8/31/24

(f) 12.83 0.21 0.09 0.30 (0.24)

—

(0.13)

(0.37)

—

12.76 11.79 2/29/24

12.52 0.43 0.34 0.77 (0.45)

—

(0.01)

(0.46)

—

(g) 12.83 10.97 2/28/23

15.07 0.55 (2.53)

(1.98)

(0.57)

—

—

(0.57)

—

12.52 10.87 2/28/22

15.91 0.66 (0.85)

(0.19)

(0.65)

—

—

(0.65)

—

15.07 13.71 2/28/21

16.71 0.64 (0.80)

(0.16)

(0.64)

—

—

(0.64)

—

15.91 14.57 (a) Based

on

average

shares

outstanding.

(b) Total

Return

Based

on

Common

Share

NAV

is

the

combination

of

changes

in

common

share

NAV,

reinvested

distributions

at

Common

Share

NAV,

if

any.

The

last

distribution

declared

in

the

period,

which

is

typically

paid

on

the

first

business

day

of

the

following

month,

is

assumed

to

be

reinvested

at

the

ending

NAV.

The

actual

reinvest

price

for

the

last

distribution

declared

in

the

period

may

often

be

based

on

the

Fund's

market

price

(and

not

its

NAV),

and

therefore

may

be

different

from

the

price

used

in

the

calculation.

Total

returns

are

not

annualized.

Total

Return

Based

on

Common

Share

Price

is

the

combination

of

changes

in

the

market

price

per

share

and

the

effect

of

reinvested

distributions,

if

any,

at

the

average

price

paid

per

share

at

the

time

of

reinvestment.

The

last

distribution

declared

in

the

period,

which

is

typically

paid

on

the

first

business

day

of

the

following

month,

is

assumed

to

be

reinvested

at

the

ending

market

price.

The

actual

reinvestment

for

the

last

distribution

declared

in

the

period

may

take

place

over

several

days,

and

in

some

instances

may

not

be

based

on

the

market

price,

so

the

actual

reinvestment

price

may

be

different

from

the

price

used

in

the

calculation.

Total

returns

are

not

annualized.

(c) • Net

Investment

Income

(Loss)

ratios

reflect

income

earned

and

expenses

incurred

on

assets

attributable

to

borrowings,

preferred

shares

and/or

reverse

repurchase

agreements

(as

described

in

Notes

to

Financial

Statements),

where

applicable.

• The

expense

ratios

reflect,

among

other

things,

all

interest

expense

and

other

costs

related

to

borrowings,

preferred

shares

and/or

reverse

repurchase

agreements

(as

described

in

Notes

to

Financial

Statements)

and/or

the

interest

expense

deemed

to

have

been

paid

by

the

Fund

on

the

floating

rate

certificates

issued

by

the

special

purpose

trusts

for

the

self-deposited

inverse

floaters

held

by

the

Fund

(as

described

in

Notes

to

Financial

Statements),

where

applicable,

as

follows:

See

Notes

to

Financial

Statements

Common

Share

Supplemental

Data/

Ratios

Applicable

to

Common

Shares

Common

Share

Total

Returns

Ratios

to

Average

Net

Assets

Based

on

Net

Asset

Value

(b) Based

on

Share

Price

(b) Net

Assets,

End

of

Period

(000) Expenses

(c) Net

Investment

Income

(Loss)

(c) Portfolio

Turnover

Rate

7.55 %

15.08 %

$

309,152

0.55 %

(e) 3.88 %

(e) 2

%

(2.31)

(1.12)

293,035

0.54 3.81 11

1.99 4.32 311,670

0.55 (e) 3.65 (e) 7

5.87 4.70 311,156

0.54 3.79 20

(7.58)

(5.13)

305,143

0.53 3.52 58

(0.43)

(3.89)

341,804

0.56 2.85 6

(0.62)

0.73 299,625

0.60 2.94 9

12.08 11.49 1,866,452

3.41 (e) 4.34 (e) 3

(6.68)

2.96 1,611,348

3.79 4.00 17

2.37 11.00 1,846,087

3.98 (e) 3.31 (e) 4

6.34 5.39 1,856,151

4.03 3.48 25

(13.20)

(16.78)

1,811,752

2.72 4.19 69

(1.33)

(1.81)

2,181,074

1.46 4.14 12

(0.90)

0.88 2,302,711

1.67 4.00 17

(d) Unaudited.

(e) Annualized.

(f) For

the

six

months

ended

August

31,

2024. Prior

to

March

1,

2024,

the

Fund's

fiscal

year

end

was

February

28/29th.

(g) Value

rounded

to

zero.

#### Financial

#### Highlights
(continuted)

Ratios

of

Interest

Expense

to

Average

Net

Assets

Applicable

to

Common

Shares

NXJ

2/28/26

(d) 2.44 %

(e) 8/31/25

2.76 8/31/24

(f) 2.95 (e) 2/29/24

2.75 2/28/23

1.50 2/28/22

0.45 2/28/21

0.60 NRK

2/28/26

(d) 2.41 (e) 8/31/25

2.61 8/31/24

(f) 2.84 (e) 2/29/24

2.89 2/28/23

1.80 2/28/22

0.55 2/28/21

0.80 The

following

data

is

for

a

common

share

outstanding for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

to

Common

Shareholders

Common

Share

Common

Share

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Return

of

Capital

Total

Net

Asset

Value,

End

of

Period

Share

Price,

End

of

Period

NXJ

2/28/26

(d) $

12.25 $

0.19 $

1.03 $

1.22 $

(0.47)

$

—

$

—

$

(0.47)

$

13.00 $

12.59 8/31/25

13.67 0.41 (0.89)

(0.48)

(0.40)

—

(0.54)

(0.94)

12.25 11.42 8/31/24

(f) 13.89 0.18 (0.02)

0.16 (0.23)

—

(0.15)

(0.38)

13.67 12.75 2/29/24

13.36 0.36 0.55 0.91 (0.35)

—

(0.03)

(0.38)

13.89 12.00 2/28/23

15.49 0.52 (2.09)

(1.57)

(0.56)

—

—

(0.56)

13.36 11.37 2/28/22

16.44 0.68 (0.93)

(0.25)

(0.70)

—

—

(0.70)

15.49 13.52 2/28/21

17.12 0.71 (0.72)

(0.01)

(0.67)

—

—

(0.67)

16.44 14.09 NRK

2/28/26

(d) 10.30 0.25 0.98 1.23 (0.41)

—

—

(0.41)

11.12 10.50 8/31/25

12.01 0.46 (1.34)

(0.88)

(0.46)

—

(0.37)

(0.83)

10.30 9.51 8/31/24

(f) 12.17 0.21 (0.02)

0.19 (0.24)

—

(0.11)

(0.35)

12.01 11.09 2/29/24

11.77 0.41 0.43 0.84 (0.44)

—

—

(0.44)

12.17 10.83 2/28/23

14.18 0.50 (2.38)

(1.88)

(0.53)

—

—

(0.53)

11.77 10.29 2/28/22

14.84 0.57 (0.65)

(0.08)

(0.58)

—

—

(0.58)

14.18 12.69 2/28/21

15.45 0.60 (0.64)

(0.04)

(0.57)

—

—

(0.57)

14.84 13.44 (a) Based

on

average

shares

outstanding.

(b) Total

Return

Based

on

Common

Share

NAV

is

the

combination

of

changes

in

common

share

NAV,

reinvested

distributions

at

Common

Share

NAV,

if

any.

The

last

distribution

declared

in

the

period,

which

is

typically

paid

on

the

first

business

day

of

the

following

month,

is

assumed

to

be

reinvested

at

the

ending

NAV.

The

actual

reinvest

price

for

the

last

distribution

declared

in

the

period

may

often

be

based

on

the

Fund's

market

price

(and

not

its

NAV),

and

therefore

may

be

different

from

the

price

used

in

the

calculation.

Total

returns

are

not

annualized.

Total

Return

Based

on

Common

Share

Price

is

the

combination

of

changes

in

the

market

price

per

share

and

the

effect

of

reinvested

distributions,

if

any,

at

the

average

price

paid

per

share

at

the

time

of

reinvestment.

The

last

distribution

declared

in

the

period,

which

is

typically

paid

on

the

first

business

day

of

the

following

month,

is

assumed

to

be

reinvested

at

the

ending

market

price.

The

actual

reinvestment

for

the

last

distribution

declared

in

the

period

may

take

place

over

several

days,

and

in

some

instances

may

not

be

based

on

the

market

price,

so

the

actual

reinvestment

price

may

be

different

from

the

price

used

in

the

calculation.

Total

returns

are

not

annualized.

(c) • Net

Investment

Income

(Loss)

ratios

reflect

income

earned

and

expenses

incurred

on

assets

attributable

to

borrowings,

preferred

shares

and/or

reverse

repurchase

agreements

(as

described

in

Notes

to

Financial

Statements),

where

applicable.

• The

expense

ratios

reflect,

among

other

things,

all

interest

expense

and

other

costs

related

to

borrowings,

preferred

shares

and/or

reverse

repurchase

agreements

(as

described

in

Notes

to

Financial

Statements)

and/or

the

interest

expense

deemed

to

have

been

paid

by

the

Fund

on

the

floating

rate

certificates

issued

by

the

special

purpose

trusts

for

the

self-deposited

inverse

floaters

held

by

the

Fund

(as

described

in

Notes

to

Financial

Statements),

where

applicable,

as

follows:

(d) Unaudited.

See

Notes

to

Financial

Statements

Common

Share

Supplemental

Data/

Ratios

Applicable

to

Common

Shares

Common

Share

Total

Returns

Ratios

to

Average

Net

Assets

Based

on

Net

Asset

Value

(b) Based

on

Share

Price

(b) Net

Assets,

End

of

Period

(000) Expenses

(c) Net

Investment

Income

(Loss)

(c) Portfolio

Turnover

Rate

10.07 %

14.44 %

$

536,110

3.94 %

(e) 3.00 %

(e) 2

%

(3.62)

(3.08)

505,219

3.82 3.19 17

1.17 9.54 563,766

4.00 (e) 2.69 (e) 9

6.97 9.14 572,619

3.79 2.68 16

(10.16)

(11.96)

554,192

2.53 3.82 17

(1.68)

0.53 642,438

1.39 4.10 9

0.08 0.42 681,846

1.55 4.36 12

12.11 14.96 969,786

3.45 (e) 4.61 (e) 6

(7.66)

(7.08)

898,767

3.69 4.14 10

1.58 5.68 1,048,032

3.87 (e) 3.47 (e) 9

7.31 9.87 1,062,016

3.90 3.49 27

(13.32)

(14.87)

1,026,334

2.84 4.07 69

(0.70)

(1.55)

1,237,080

1.53 3.77 11

(0.16)

2.31 1,294,269

1.80 4.10 22

(e) Annualized.

(f) For

the

six

months

ended

August

31,

2024. Prior

to

March

1,

2024,

the

Fund's

fiscal

year

end

was

February

28/29th.

#### Financial

#### Highlights
(continued)

Ratios

of

Interest

Expense

to

Average

Net

Assets

Applicable

to

Common

Shares

NNY

2/28/26

(d) 0.01 %

(e) 8/31/25

0.01 8/31/24

(f) —

(e) 2/29/24

0.01 2/28/23

—

2/28/22

—

2/28/21

—

NAN

2/28/26(d)

2.33 (e) 8/31/25

2.67 8/31/24

(f) 2.79 (e) 2/29/24

2.78 2/28/23

1.64 2/28/22

0.53 2/28/21

0.70 The

following

data

is

for

a

common

share

outstanding for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

to

Common

Shareholders

Common

Share

Common

Share

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Return

of

Capital

Total

Net

Asset

Value,

End

of

Period

Share

Price,

End

of

Period

NNY

2/28/26

(d) $

8.54 $

0.17 $

0.43 $

0.60 $

(0.18)

$

—

$

—

$

(0.18)

$

8.96 $

8.79 8/31/25

9.06 0.35 (0.52)

(0.17)

(0.35)

—

—

(0.35)

8.54 8.09 8/31/24

(f) 9.06 0.17 —(g)

0.17 (0.17)

—

—

(0.17)

9.06 8.58 2/29/24

8.88 0.34 0.17 0.51 (0.33)

—

—

(0.33)

9.06 8.30 2/28/23

9.84 0.31 (0.97)

(0.66)

(0.30)

—

—

(0.30)

8.88 8.31 2/28/22

10.11 0.26 (0.24)

0.02 (0.29)

—

—

(0.29)

9.84 9.27 2/28/21

10.46 0.31 (0.34)

(0.03)

(0.32)

—

—

(0.32)

10.11 9.63 NAN

2/28/26

(d) 10.88 0.26 0.89 1.15 (0.43)

—

—

(0.43)

11.60 11.62 8/31/25

12.49 0.49 (1.24)

(0.75)

(0.48)

—

(0.38)

(0.86)

10.88 10.97 8/31/24

(f) 12.63 0.23 (0.01)

0.22 (0.25)

—

(0.11)

(0.36)

12.49 11.48 2/29/24

12.25 0.43 0.42 0.85 (0.47)

—

—

(0.47)

12.63 10.92 2/28/23

14.67 0.51 (2.39)

(1.88)

(0.54)

—

—

(0.54)

12.25 10.60 2/28/22

15.34 0.58 (0.64)

(0.06)

(0.61)

—

—

(0.61)

14.67 13.21 2/28/21

16.04 0.65 (0.73)

(0.08)

(0.62)

—

—

(0.62)

15.34 13.92 (a) Based

on

average

shares

outstanding.

(b) Total

Return

Based

on

Common

Share

NAV

is

the

combination

of

changes

in

common

share

NAV,

reinvested

distributions

at

Common

Share

NAV,

if

any.

The

last

distribution

declared

in

the

period,

which

is

typically

paid

on

the

first

business

day

of

the

following

month,

is

assumed

to

be

reinvested

at

the

ending

NAV.

The

actual

reinvest

price

for

the

last

distribution

declared

in

the

period

may

often

be

based

on

the

Fund's

market

price

(and

not

its

NAV),

and

therefore

may

be

different

from

the

price

used

in

the

calculation.

Total

returns

are

not

annualized

.

Total

Return

Based

on

Common

Share

Price

is

the

combination

of

changes

in

the

market

price

per

share

and

the

effect

of

reinvested

distributions,

if

any,

at

the

average

price

paid

per

share

at

the

time

of

reinvestment.

The

last

distribution

declared

in

the

period,

which

is

typically

paid

on

the

first

business

day

of

the

following

month,

is

assumed

to

be

reinvested

at

the

ending

market

price.

The

actual

reinvestment

for

the

last

distribution

declared

in

the

period

may

take

place

over

several

days,

and

in

some

instances

may

not

be

based

on

the

market

price,

so

the

actual

reinvestment

price

may

be

different

from

the

price

used

in

the

calculation.

Total

returns

are

not

annualized

.

(c) • Net

Investment

Income

(Loss)

ratios

reflect

income

earned

and

expenses

incurred

on

assets

attributable

to

borrowings,

preferred

shares

and/or

reverse

repurchase

agreements

(as

described

in

Notes

to

Financial

Statements),

where

applicable.

• The

expense

ratios

reflect,

among

other

things,

all

interest

expense

and

other

costs

related

to

borrowings,

preferred

shares

and/or

reverse

repurchase

agreements

(as

described

in

Notes

to

Financial

Statements)

and/or

the

interest

expense

deemed

to

have

been

paid

by

the

Fund

on

the

floating

rate

certificates

issued

by

the

special

purpose

trusts

for

the

self-deposited

inverse

floaters

held

by

the

Fund

(as

described

in

Notes

to

Financial

Statements),

where

applicable,

as

follows:

(d) Unaudited.

See

Notes

to

Financial

Statements.

Common

Share

Supplemental

Data/

Ratios

Applicable

to

Common

Shares

Common

Share

Total

Returns

Ratios

to

Average

Net

Assets

Based

on

Net

Asset

Value

(b) Based

on

Share

Price

(b) Net

Assets,

End

of

Period

(000) Expenses

(c) Net

Investment

Income

(Loss)

(c) Portfolio

Turnover

Rate

7.03 %

10.92 %

$

169,233

0.59 %

(e) 3.99 %

(e) 5

%

(1.89)

(1.58)

161,239

0.58 4.02 13

1.88 5.47 171,188

0.59 (e) 3.83 (e) 3

5.91 3.96 171,146

0.56 3.81 24

(6.76)

(7.22)

167,749

0.56 3.42 69

0.10 (0.91)

185,909

0.60 2.55 10

(0.17)

(3.94)

154,122

0.57 3.08 24

10.70 9.98 370,546

3.43 (e) 4.53 (e) 5

(6.24)

3.08 337,746

3.77 4.19 14

1.80 8.59 385,292

3.84 (e) 3.62 (e) 4

7.07 7.65 389,442

3.82 3.53 35

(12.84)

(15.82)

378,021

2.73 4.03 73

(0.55)

(1.06)

452,687

1.51 3.71 16

(0.40)

0.90 473,214

1.70 4.29 23

(e) Annualized.

(f) For

the

six

months

ended

August

31,

2024. Prior

to

March

1,

2024,

the

Fund's

fiscal

year

end

was

February

28/29th.

(g) Value

rounded

to

zero.

#### Financial

#### Highlights
(continued)

Ratios

of

Interest

Expense

to

Average

Net

Assets

Applicable

to

Common

Shares

NQP

2/28/26

(d) 2.28 %

(e) 8/31/25

2.65 8/31/24

(f) 2.79 (e) 2/29/24

2.84 2/28/23

1.53 2/28/22

0.43 2/28/21

0.64 The

following

data

is

for

a

common

share

outstanding for

each

fiscal year

end

unless

otherwise

noted:

Investment

Operations

Less

Distributions

to

Common

Shareholders

Common

Share

Common

Share

Net

Asset

Value,

Beginning

of

Period

Net

Investment

Income

(NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain

(Loss)

Total

From

NII

From

Net

Realized

Gains

Return

of

Capital

Total

Net

Asset

Value,

End

of

Period

Share

Price,

End

of

Period

NQP

2/28/26

(d) $

11.81 $

0.21 $

1.09 $

1.30 $

(0.47)

$

—

$

—

$

(0.47)

$

12.64 $

12.03 8/31/25

13.67 0.42 (1.34)

(0.92)

(0.45)

—

(0.49)

(0.94)

11.81 10.96 8/31/24

(f) 13.60 0.16 0.28 0.44 (0.20)

—

(0.17)

(0.37)

13.67 12.50 2/29/24

13.08 0.34 0.54 0.88 (0.33)

—

(0.03)

(0.36)

13.60 11.59 2/28/23

15.30 0.47 (2.19)

(1.72)

(0.50)

—

—

(0.50)

13.08 11.19 2/28/22

15.68 0.64 (0.36)

0.28 (0.66)

—

—

(0.66)

15.30 14.16 2/28/21

16.37 0.67 (0.71)

(0.04)

(0.65)

—

—

(0.65)

15.68 14.15 (a) Based

on

average

shares

outstanding.

(b) Total

Return

Based

on

Common

Share

NAV

is

the

combination

of

changes

in

common

share

NAV,

reinvested

distributions

at

Common

Share

NAV,

if

any.

The

last

distribution

declared

in

the

period,

which

is

typically

paid

on

the

first

business

day

of

the

following

month,

is

assumed

to

be

reinvested

at

the

ending

NAV.

The

actual

reinvest

price

for

the

last

distribution

declared

in

the

period

may

often

be

based

on

the

Fund's

market

price

(and

not

its

NAV),

and

therefore

may

be

different

from

the

price

used

in

the

calculation.

Total

returns

are

not

annualized.

Total

Return

Based

on

Common

Share

Price

is

the

combination

of

changes

in

the

market

price

per

share

and

the

effect

of

reinvested

distributions,

if

any,

at

the

average

price

paid

per

share

at

the

time

of

reinvestment.

The

last

distribution

declared

in

the

period,

which

is

typically

paid

on

the

first

business

day

of

the

following

month,

is

assumed

to

be

reinvested

at

the

ending

market

price.

The

actual

reinvestment

for

the

last

distribution

declared

in

the

period

may

take

place

over

several

days,

and

in

some

instances

may

not

be

based

on

the

market

price,

so

the

actual

reinvestment

price

may

be

different

from

the

price

used

in

the

calculation.

Total

returns

are

not

annualized.

(c) • Net

Investment

Income

(Loss)

ratios

reflect

income

earned

and

expenses

incurred

on

assets

attributable

to

borrowings,

preferred

shares

and/or

reverse

repurchase

agreements

(as

described

in

Notes

to

Financial

Statements),

where

applicable.

• The

expense

ratios

reflect,

among

other

things,

all

interest

expense

and

other

costs

related

to

borrowings,

preferred

shares

and/or

reverse

repurchase

agreements

(as

described

in

Notes

to

Financial

Statements)

and/or

the

interest

expense

deemed

to

have

been

paid

by

the

Fund

on

the

floating

rate

certificates

issued

by

the

special

purpose

trusts

for

the

self-deposited

inverse

floaters

held

by

the

Fund

(as

described

in

Notes

to

Financial

Statements),

where

applicable,

as

follows:

(d) Unaudited.

(e) Annualized.

(f) For

the

six

months

ended

August

31,

2024. Prior

to

March

1,

2024,

the

Fund's

fiscal

year

end

was

February

28/29th.

See

Notes

to

Financial

Statements.

Common

Share

Supplemental

Data/

Ratios

Applicable

to

Common

Shares

Common

Share

Total

Returns

Ratios

to

Average

Net

Assets

Based

on

Net

Asset

Value

(b) Based

on

Share

Price

(b) Net

Assets,

End

of

Period

(000) Expenses

(c) Net

Investment

Income

(Loss)

(c) Portfolio

Turnover

Rate

11.11 %

14.11 %

$

470,604

3.85 %

(e) 3.35 %

(e) 10

%

(6.93)

(4.89)

439,648

3.75 3.36 18

3.30 11.19 508,713

3.84 (e) 2.33 (e) 12

6.88 7.00 506,188

3.90 2.59 14

(11.31)

(17.61)

488,980

2.57 3.48 15

1.72 4.65 571,897

1.39 3.99 12

(0.29)

2.56 586,028

1.62 4.28 10

#### Financial

#### Highlights
(continued)

The

following

table

sets

forth

information

regarding

each

Fund's

outstanding

senior

securities

as

of

the

end

of

each

of

the

Fund's

last

five

fiscal

periods,

as

applicable.

AMTP

Shares

Aggregate

Amount

Outstanding

(000) (a) Asset

Coverage

Per

$100,000

(b) NAZ

2/28/26

(c) $

88,300

$

272,748

8/31/25

88,300

252,413

8/31/24

(d) 88,300

265,542

2/29/24

88,300

266,396

2/28/23

88,300

261,963

2/28/22

88,300

290,229

2/28/21

88,300

297,509

(a) Aggregate

Amount

Outstanding:

Aggregate

amount

outstanding

represents

the

liquidation

preference

as

of

the

end

of

the

relevant

fiscal

year.

(b) Asset

Coverage

Per

$100,000:

Asset

coverage

per

$100,000

is

calculated

by

subtracting

the

Fund's

liabilities

and

indebtedness

not

represented

by

senior

securities

from

the

Fund's

total

assets,

dividing

the

result

by

the

aggregate

of

the

involuntary

liquidation

preference

of

the

outstanding

preferred

shares

and

multiplying

the

result

by

100,000.

For

purpose

of

asset

coverage

above,

senior

securities

consist

of

preferred

shares

or

borrowings

(excluding

temporary

borrowings)

of

a

Fund

and

does

not

include

derivative

transactions

and

other

investments

that

have

the

economic

effect

of

leverage

such

as

reverse

repurchase

agreements

and

tender

option

bonds.

If

the

leverage

effects

of

such

investments

were

included,

the

asset

coverage

amounts

presented

would

be

lower.

(c) Unaudited.

(d) For

the

six

months

ended

August

31,

2024. Prior

to

March

1,

2024,

the

Fund's

fiscal

year

end

was

February

28/29th.

#### Financial

#### Highlights
(continued)

The

following

table

sets

forth

information

regarding

each

Fund's

outstanding

senior

securities

as

of

the

end

of

each

of

the

Fund's

last

five

fiscal

periods,

as

applicable.

iMTP

Shares

MFP

Shares

VMTP

Shares

VRDP

Shares

Aggregate

Amount

Outstanding

(000) (a) Asset

Coverage

Per

$5,000

(b) Aggregate

Amount

Outstanding

(000) (a) Asset

Coverage

Per

$100,000

(c) Aggregate

Amount

Outstanding

(000) (a) Asset

Coverage

Per

$100,000

(c) Aggregate

Amount

Outstanding

(000) (a) Asset

Coverage

Per

$100,000

(c) Asset

Coverage

Per

$1

Liquidation

Preference

(d) NKX

2/28/26

(e) $

—

$

—

$

140,400

$

266,241

$

—

$

—

$

256,700

$

266,241

$

2.66 8/31/25

—

—

140,400

244,649

—

—

256,700

244,649

2.45 8/31/24

(f) —

—

140,400

258,511

—

—

256,700

258,511

2.59 2/29/24

—

—

140,400

259,461

—

—

256,700

259,461

2.59 2/28/23

—

—

140,400

255,434

—

—

256,700

255,434

2.55 2/28/22

—

—

140,400

271,751

—

—

292,200

271,751

2.72 2/28/21

—

—

140,400

281,045

—

—

292,200

281,045

2.81 NAC

2/28/26

(e) —

—

257,000

263,609

—

—

883,800

263,609

2.64 8/31/25

—

—

257,000

238,337

—

—

907,800

238,337

2.38 8/31/24

(f) —

—

275,000

256,078

—

—

907,800

256,078

2.56 2/29/24

—

—

275,000

256,929

—

—

907,800

256,929

2.57 2/28/23

—

—

320,000

247,561

—

—

907,800

247,561

2.48 2/28/22

—

—

320,000

270,716

—

—

957,600

270,716

2.71 2/28/21

—

—

320,000

280,237

—

—

957,600

280,237

2.80 NXJ

2/28/26

(e) —

—

—

—

—

—

313,900

270,790

—

8/31/25

—

—

—

—

—

—

313,900

260,949

—

8/31/24

(f) —

—

—

—

—

—

313,900

279,601

—

2/29/24

—

—

—

—

—

—

313,900

282,421

—

2/28/23

—

—

—

—

—

—

313,900

276,550

—

2/28/22

—

—

—

—

—

—

313,900

304,663

—

2/28/21

—

—

—

—

—

—

313,900

317,218

—

NRK

2/28/26

(e) —

—

80,000

246,096

—

—

583,800

246,096

2.46 8/31/25

—

—

80,000

235,397

—

—

583,800

235,397

2.35 8/31/24

(f) —

—

80,000

257,884

—

—

583,800

257,884

2.58 2/29/24

—

—

80,000

259,990

—

—

583,800

259,990

2.60 2/28/23

—

—

80,000

254,012

—

—

583,800

254,012

2.54 2/28/22

—

—

80,000

266,319

—

—

663,800

266,319

2.66 2/28/21

—

—

80,000

274,008

—

—

663,800

274,008

2.74 (a) Aggregate

Amount

Outstanding:

Aggregate

amount

outstanding

represents

the

liquidation

preference

as

of

the

end

of

the

relevant

fiscal

year.

(b) Asset

Coverage

Per

$100,000:

Asset

coverage

per

$100,000

is

calculated

by

subtracting

the

Fund's

liabilities

and

indebtedness

not

represented

by

senior

securities

from

the

Fund's

total

assets,

dividing

the

result

by

the

aggregate

of

the

involuntary

liquidation

preference

of

the

outstanding

preferred

shares

and

multiplying

the

result

by

100,000.

For

purpose

of

asset

coverage

above,

senior

securities

consist

of

preferred

shares

or

borrowings

(excluding

temporary

borrowings)

of

a

Fund

and

does

not

include

derivative

transactions

and

other

investments

that

have

the

economic

effect

of

leverage

such

as

reverse

repurchase

agreements

and

tender

option

bonds.

If

the

leverage

effects

of

such

investments

were

included,

the

asset

coverage

amounts

presented

would

be

lower.

(c) Asset

Coverage

Per

$5,000:

Asset

coverage

per

$5,000

is

calculated

by

subtracting

the

Fund's

liabilities

and

indebtedness

not

represented

by

senior

securities

from

the

Fund's

total

assets,

dividing

the

result

by

the

aggregate

amount

of

the

Fund's

senior

securities

representing

indebtedness

then

outstanding

(if

applicable,)

plus

the

aggregate

of

the

involuntary

liquidation

preference

of

the

outstanding

preferred

shares,

if

applicable,

and

multiplying

the

result

by

5,000. For

purpose

of

asset

coverage

above,

senior

securities

consist

of

preferred

shares

or

borrowings

of

a

Fund

and

does

not

include

derivative

transactions

and

other

investments

that

have

the

economic

effect

of

leverage

such

as

reverse

repurchase

agreements

and

tender

option

bonds.

If

the

leverage

effects

of

such

investments

were

included,

the

asset

coverage

amounts

presented

would

be

lower.

(d) Includes

all

preferred

shares

presented

for

the

Fund.

(e) Unaudited.

(f) For

the

six

months

ended

August

31,

2024. Prior

to

March

1,

2024,

the

Fund's

fiscal

year

end

was

February

28/29th.

#### Financial

#### Highlights
(continued)

The

following

table

sets

forth

information

regarding

each

Fund's

outstanding

senior

securities

as

of

the

end

of

each

of

the

Fund's

last

five

fiscal

periods,

as

applicable.

AMTP

Shares

VMTP

Shares

VRDP

Shares

Aggregate

Amount

Outstanding

(000) (a) Asset

Coverage

Per

$100,000

(b) Aggregate

Amount

Outstanding

(000) (a) Asset

Coverage

Per

$100,000

(b) Aggregate

Amount

Outstanding

(000) (a) Asset

Coverage

Per

$100,000

(b) Asset

Coverage

Per

$1

Liquidation

Preference

(c) NAN

2/28/26

(d) $

127,000

$

271,549

$

—

$

—

$

89,000

$

271,549

$

2.72 8/31/25

127,000

256,364

—

—

89,000

256,364

2.56 8/31/24

(e) 127,000

278,376

—

—

89,000

278,376

2.78 2/29/24

127,000

280,297

—

—

89,000

280,297

2.80 2/28/23

127,000

275,010

—

—

89,000

275,010

2.75 2/28/22

147,000

291,007

—

—

89,000

291,007

2.91 2/28/21

147,000

300,514

—

—

89,000

300,514

3.01 NQP

2/28/26

(d) —

—

—

—

217,500

316,369

—

8/31/25

—

—

—

—

217,500

302,137

—

8/31/24

(e) —

—

—

—

217,500

333,891

—

2/29/24

—

—

—

—

217,500

332,730

—

2/28/23

—

—

—

—

217,500

324,818

—

2/28/22

—

—

—

—

217,500

362,941

—

2/28/21

—

—

—

—

217,500

369,438

—

(a) Aggregate

Amount

Outstanding:

Aggregate

amount

outstanding

represents

the

liquidation

preference

as

of

the

end

of

the

relevant

fiscal

year.

(b) Asset

Coverage

Per

$100,000:

Asset

coverage

per

$100,000

is

calculated

by

subtracting

the

Fund's

liabilities

and

indebtedness

not

represented

by

senior

securities

from

the

Fund's

total

assets,

dividing

the

result

by

the

aggregate

of

the

involuntary

liquidation

preference

of

the

outstanding

preferred

shares

and

multiplying

the

result

by

100,000.

For

purpose

of

asset

coverage

above,

senior

securities

consist

of

preferred

shares

or

borrowings

(excluding

temporary

borrowings)

of

a

Fund

and

does

not

include

derivative

transactions

and

other

investments

that

have

the

economic

effect

of

leverage

such

as

reverse

repurchase

agreements

and

tender

option

bonds.

If

the

leverage

effects

of

such

investments

were

included,

the

asset

coverage

amounts

presented

would

be

lower.

(c) Includes

all

preferred

shares

presented

for

the

Fund.

(d) Unaudited.

(e) For

the

six

months

ended

August

31,

2024. Prior

to

March

1,

2024,

the

Fund's

fiscal

year

end

was

February

28/29th.

#### Notes

#### to

#### Financial

#### Statements

(Unaudited)

1. General

Information

Fund

Information:

The

funds

covered

in

this

report

and

their

corresponding

New

York

Stock

Exchange

("NYSE")

symbols

are

as

follows

(each

a

"Fund"

and

collectively,

the

"Funds"):

Nuveen

Arizona

Quality

Municipal

Income

Fund

(NAZ)

Nuveen

California

AMT-Free

Quality

Municipal

Income

Fund

(NKX)

Nuveen

California

Municipal

Value

Fund

(NCA)

Nuveen

California

Quality

Municipal

Income

Fund

(NAC)

Nuveen

New

Jersey

Quality

Municipal

Income

Fund

(NXJ)

Nuveen

New

York

AMT-Free

Quality

Municipal

Income

Fund

(NRK)

Nuveen

New

York

Municipal

Value

Fund

(NNY)

Nuveen

New

York

Quality

Municipal

Income

Fund

(NAN)

Nuveen

Pennsylvania

Quality

Municipal

Income

Fund

(NQP)

The

Funds

are

registered

under

the

Investment

Company

Act

of

1940

(the

"1940

Act"),

as

amended,

as

closed-end

management

investment

companies.

NAZ,

NKX,

NCA,

NAC,

NXJ,

NRK,

NNY,

NAN

and

NQP

were

organized

as

Massachusetts

business

trusts

on

August

24,

2012,

July

29,

2002,

March

8,

2021,

December

1,

1998,

June

1,

1999,

April

19,

2002,

April

12,

2021,

December

1,

1998

and

December

20,

1990,

respectively.

NAZ,

NCA

and

NNY

were

previously

organized

as

a

Minnesota

trust

on

September

15,

1992,

July

15,

1987,

and

July

14,

1987,

respectively.

Current

Fiscal

Period

:

The

end

of

the

reporting

period

for

the

Funds

is

February

28,

2026,

and

the

period

covered

by

these

Notes

to

Financial

Statements

is

the

six

months

ended

February

28,

2026

(the

"current

fiscal

period").

Fund

Mergers:

On

September

17,

2025,

the

Funds'

Board

of

Trustees

(the

"Board")

approved

the

mergers

of

NXJ,

NQP

and

Nuveen

Missouri

Quality

Municipal

Income

Fund

(NOM)

into

the

Nuveen

Municipal

High

Income

Opportunity

Fund

(NMZ).

The

mergers

were

approved

by

shareholders

on

April

2,

2026

(subsequent

to

the

close

of

the

reporting

period)

and

became

effective

before

market

open

on

April

27,

2026

Investment

Adviser

and

Sub-Adviser:

The

Funds'

investment

adviser

is

Nuveen

Fund

Advisors,

LLC

(the

"Adviser"),

a

subsidiary

of

Nuveen,

LLC

("Nuveen").

Nuveen

is

the

investment

management

arm

of

Teachers

Insurance

and

Annuity

Association

of

America

(TIAA).

The

Adviser

has

overall

responsibility

for

management

of

the

Funds,

oversees

the

management

of

the

Funds'

portfolios,

manages

the

Funds'

business

affairs

and

provides

certain

clerical,

bookkeeping

and

other

administrative

services,

and,

if

necessary,

asset

allocation

decisions.

The

Adviser

has

entered

into

sub-advisory

agreements

with

Nuveen

Asset

Management,

LLC

(the

"Sub-Adviser"),

a

subsidiary

of

the

Adviser,

under

which

the

Sub-Adviser

manages

the

investment

portfolios

of

the

Funds.

2. Significant

Accounting

Policies

The

accompanying

financial

statements

were

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

("U.S.

GAAP"),

which

may

require

the

use

of

estimates

made

by

management

and

the

evaluation

of

subsequent

events.

Actual

results

may

differ

from

those

estimates. The

Funds

are

investment

companies

and

follow

accounting

guidance

in

the

Financial

Accounting

Standards

Board

("FASB")

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies.

The

net

asset

value

("NAV")

for

financial

reporting

purposes

may

differ

from

the

NAV

for

processing

security

and

common

share

transactions.

The

NAV

for

financial

reporting

purposes

includes

security

and

common

share

transactions

through

the

date

of

the

report.

Total

return

is

computed

based

on

the

NAV

used

for

processing

security

and

common

share

transactions.

The

following

is

a

summary

of

the

significant

accounting

policies

consistently

followed

by

the

Funds.

Compensation:

The

Funds pay

no

compensation

directly

to

those

of its

officers,

all

of

whom

receive

remuneration

for

their

services

to

the

Funds

from

the

Adviser

or

its

affiliates.

The

Board has

adopted

a

deferred

compensation

plan

for

independent

trustees

that

enables

trustees

to

elect

to

defer

receipt

of

all

or

a

portion

of

the

annual

compensation

they

are

entitled

to

receive

from

certain

Nuveen-advised

funds.

Under

the

plan,

deferred

amounts

are

treated

as

though

equal

dollar

amounts

had

been

invested

in

shares

of

select

Nuveen-advised

funds.

Custodian

Fee

Credit:

As

an

alternative

to

overnight

investments, each

Fund

has

an

arrangement

with

its

custodian

bank,

State

Street

Bank

and

Trust

Company,

(the

"Custodian")

whereby

certain

custodian

fees

and

expenses

are

reduced

by

net

credits

earned

on

each

Fund's

cash

on

deposit

with

the

bank.

Credits

for

cash

balances

may

be

offset

by

charges

for

any

days

on

which

a

Fund

overdraws

its

account

at

the

Custodian.

The

amount

of

custodian

fee

credit

earned

by

a

Fund

is

recognized

on

the

Statement

of

Operations

as

a

component

of

"Custodian

expenses,

net."

During

the

current

fiscal

period,

the

Funds

did

not

receive any

custodian

fee credits.

Distributions

to

Common

Shareholders:

Distributions

to

common shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

#### Notes

#### to

#### Financial

#### Statements
(continued)

The

Funds'

distribution

policy,

which

may

be

changed

by

the

Board,

is

to

make

regular

monthly

cash

distributions

to

holders

of

their

common

shares

(stated

in

terms

of

a

fixed

cents

per

common

share

dividend

distributions

rate

which

may

be

set

from

time

to

time).

Each

Fund

intends

to

distribute

all

or

substantially

all

of

its

net

investment

income

each

year

through

its

regular

monthly

distribution

and

to

distribute

realized

capital

gains

at

least

annually.

In

addition,

in

any

monthly

period,

to

maintain

its

declared

per

common

share

distribution

amount,

a

Fund

may

distribute

more

or

less

than

its

net

investment

income

during

the

period.

In

the

event

a

Fund

distributes

more

than

its

net

investment

income

during

any

yearly

period,

such

distributions

may

also

include

realized

gains

and/or

a

return

of

capital.

To

the

extent

that

a

distribution

includes

a

return

of

capital

the

NAV

per

share

may

erode.

Indemnifications:

Under

the

Funds'

organizational

documents, their

officers

and

trustees

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Funds.

In

addition,

in

the

normal

course

of

business,

the Funds

enter

into

contracts

that

provide

general

indemnifications

to

other

parties.

The

Funds'

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the Funds

that

have

not

yet

occurred.

However,

the Funds

have

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

Investments

and

Investment

Income:

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Realized

gains

and

losses

on

securities

transactions

are

based

upon

the

specific

identification

method.

Investment

income

is

comprised

of

interest

income,

which

is

recorded

on

an

accrual

basis

and

includes

accretion

of

discounts

and

amortization

of

premiums

for

financial

reporting

purposes.

Investment

income

also

reflects

payment-in-kind

("PIK")

interest

and

paydown

gains

and

losses,

if

any.

PIK

interest

represents

income

received

in

the

form

of

securities

in

lieu

of

cash.

Netting

Agreements:

In

the

ordinary

course

of

business,

the

Funds

may

enter

into

transactions

subject

to

enforceable International

Swaps

and

Derivatives

Association,

Inc.

(ISDA)

master

agreements

or

other

similar

arrangements

("netting

agreements").

Generally,

the

right

to

offset

in

netting

agreements

allows

each

Fund

to

offset

certain

securities

and

derivatives

with

a

specific

counterparty,

when

applicable,

as

well

as

any

collateral

received

or

delivered

to

that

counterparty

based

on

the

terms

of

the

agreements.

Generally,

each

Fund

manages

its

cash

collateral

and

securities

collateral

on

a

counterparty

basis.

With

respect

to

certain

counterparties,

in

accordance

with

the

terms

of

the

netting

agreements,

collateral

posted

to

the

Funds

is

held

in

a

segregated

account

by

the

Funds'

custodian

and/or

with

respect

to

those

amounts

which

can

be

sold

or

repledged

,

are

presented

in

the

Funds'

Portfolio

of

Investments

or

Statement

of

Assets

and

Liabilities.

The

Funds'

investments

subject

to

netting

agreements

as

of

the

end

of

the

current

fiscal

period,

if

any,

are

further

described

later

in

these

Notes

to

Financial

Statements.

Segment

Reporting:

Each

Fund

represents

a

single

operating

segment.

The

officers

of

the

Funds

act

as

the

chief

operating

decision

maker

("CODM"),

as

defined

in

U.S.

GAAP.

The

CODM

monitors

the

operating

results

of

each

Fund

as

a

whole

and

is

responsible

for

each

Fund's

long-

term

strategic

asset

allocation

in

accordance

with

the

terms

of

its

prospectus,

based

on

a

defined

investment

strategy

which

is

executed

by

the

Fund's

portfolio

managers

as

a

team.

The

financial

information

in

the

form

of

the

Fund's

portfolio

composition,

total

returns,

expense

ratios

and

changes

in

net

assets

(i.e.,

changes

in

net

assets

resulting

from

operations,

subscriptions

and

redemptions),

which

are

used

by

the

CODM

to

assess

the

segment's

performance

versus

the

Fund's

comparative

benchmarks

and

to

make

resource

allocation

decisions

for

the

Fund's

single

segment,

is

consistent

with

that

presented

within

the

Fund's

financial

statements.

Segment

assets

are

reflected

on

the

Statement

of

Assets

and

Liabilities

as

"total

assets"

and

significant

segment

revenues

and

expenses

are

listed

on

the

Statement

of

Operations.

New

Accounting

Pronouncement

(ASU

No.

2023-09)

:

In

December

2023,

the

FASB

issued

Accounting

Standard

Update

("ASU")

No.

2023-09,

Income

Taxes

(Topic

740)

Improvements

to

Income

tax

disclosures

("ASU

2023-09").

The

primary

purpose

of

the

amendments

within

ASU

2023-09

is

to

enhance

the

transparency

and

decision

usefulness

of

income

tax

disclosures

primarily

related

to

the

rate

reconciliation

table

and

income

taxes

paid

information.

The

amendments

in

ASU

2023-09

are

effective

for

annual

periods

beginning

after

December

15,

2024. Management

is

currently

evaluating

the

implications

of

these

changes

on

the

financial

statements.

New

Accounting

Pronouncement

(ASU

No.

2025-11)

:

In

December

2025,

the

FASB

issued

ASU

No.

2025-11,

Interim

Reporting

(Topic

270)

Narrow

Scope

Improvements

("ASU

2025-11").

The

amendments

in

ASU

2025-11

provide

a

comprehensive

list

of

interim

disclosures

that

are

required

by

U.S.

GAAP.

ASU

2025-11

also

includes

a

disclosure

principle

that

requires

entities

to

disclose

events

since

the

end

of

the

last

annual

reporting

period

that

have

a

material

impact

on

the

entity.

The

amendments

in

ASU

2025-11

are

effective

for

interim

reporting

periods

within

annual

reporting

periods

beginning

after

December

15,

2027. Early

adoption

is

permitted

for

all

entities.

Management

is

currently

evaluating

the

implications

of

these

changes

on

the

financial

statements.

3. Investment

Valuation

and

Fair

Value

Measurements

The

Funds'

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

oversight

of

the Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

which

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management's

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management's

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the

Funds'

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Prices

of

fixed-income

securities

are

generally

provided

by

pricing

services

approved

by

the

Adviser,

which

is

subject

to

review

by

the

Adviser

and

oversight

of

the

Board. Pricing

services

establish

a

security's

fair

value

using

methods

that

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor's

credit

characteristics

considered

relevant.

In

pricing

certain

securities,

particularly

less

liquid

and

lower

quality

securities,

pricing

services

may

consider

information

about

a

security,

its

issuer

or

market

activity

provided

by

the

Adviser.

These

securities

are

generally

classified

as

Level

2. For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor's

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as

Level

2;

otherwise

they

would

be

classified

as

Level

3. The

following

table

summarizes

the

market

value

of

the

Funds'

investments

as

of

the

end

of

the

current

fiscal

period,

based

on

the

inputs

used

to

value

them:

NAZ

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

241,493,836

$

–

$

241,493,836

Total

$

–

$

241,493,836

$

–

$

241,493,836

NKX

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

1,068,061,453

$

–

$

1,068,061,453

Total

$

–

$

1,068,061,453

$

–

$

1,068,061,453

NCA

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

303,661,108

$

–

$

303,661,108

Variable

Rate

Demand

Preferred

Shares

–

2,500,000

–

2,500,000

Total

$

–

$

306,161,108

$

–

$

306,161,108

NAC

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

3,022,049,630

$

–

$

3,022,049,630

Short-Term

Investments:

Municipal

Bonds

–

35,000,000

–

35,000,000

Total

$

–

$

3,057,049,630

$

–

$

3,057,049,630

NXJ

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

902,353,072

$

–

$

902,353,072

Short-Term

Investments:

Municipal

Bonds

–

3,500,000

–

3,500,000

Total

$

–

$

905,853,072

$

–

$

905,853,072

NRK

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

1,589,239,708

$

–

$

1,589,239,708

Short-Term

Investments:

Municipal

Bonds

–

19,280,000

–

19,280,000

Total

$

–

$

1,608,519,708

$

–

$

1,608,519,708

#### Notes

#### to

#### Financial

#### Statements
(continued)

The

Funds

hold

liabilities

in

floating

rate

obligations

and

preferred

shares,

where

applicable,

which

are

not

reflected

in

the

tables

above.

The

fair

values

of

the

Funds'

liabilities

for

floating

rate

obligations

approximate

their

liquidation

values.

Floating

rate

obligations

are

generally

classified

as

Level

and

further

described

in

these

Notes

to

Financial

Statements.

The

fair

values

of

the

Funds'

liabilities

for

preferred

shares

approximate

their

liquidation

preference.

Preferred

shares

are

generally

classified

as

Level

and

further

described

in

these

Notes

to

Financial

Statements.

The

Funds,

where

applicable,

have

a

receivable

for

the

sale

of

their

interest

in

Vistra

Vision,

which

is

not

reflected

in

the

tables

above.

The

carrying

value

of

this

receivable

approximates

fair

value.

The

"Receivable

for

sale

of

Vistra

Vision

interest"

is

generally

classified

as

Level

and

further

described

in

these

Notes

to

Financial

Statements.

4. Portfolio

Securities

Inverse

Floating

Rate

Securities:

Each

Fund

is

authorized

to

invest

in

inverse

floating

rate

securities.

An

inverse

floating

rate

security

is

created

by

depositing

a

municipal

bond

(referred

to

as

an

"Underlying

Bond"),

typically

with

a

fixed

interest

rate,

into

a

special

purpose

tender

option

bond

("TOB")

trust

(referred

to

as

the

"TOB

Trust")

created

by

or

at

the

direction

of

one

or

more

Funds.

In

turn,

the

TOB

Trust

issues

(a) floating

rate

certificates

(referred

to

as

"Floaters"),

in

face

amounts

equal

to

some

fraction

of

the

Underlying

Bond's

par

amount

or

market

value,

and

(b) an

inverse

floating

rate

certificate

(referred

to

as

an

"Inverse

Floater")

that

represents

all

remaining

or

residual

interest

in

the

TOB

Trust.

Floaters

typically

pay

short-term

tax-exempt

interest

rates

to

third

parties

who

are

also

provided

a

right

to

tender

their

certificate

and

receive

its

par

value,

which

may

be

paid

from

the

proceeds

of

a

remarketing

of

the

Floaters,

by

a

loan

to

the

TOB

Trust

from

a

third

party

liquidity

provider

("Liquidity

Provider"),

or

by

the

sale

of

assets

from

the

TOB

Trust.

The

Inverse

Floater

is

issued

to

a

long

term

investor,

such

as

one

or

more

Funds.

The

income

received

by

the

Inverse

Floater

holder

varies

inversely

with

the

short-term

rate

paid

to

holders

of

the

Floaters,

and

in

most

circumstances

the

Inverse

Floater

holder

bears

substantially

all

of

the

Underlying

Bond's

downside

investment

risk

and

also

benefits

disproportionately

from

any

potential

appreciation

of

the

Underlying

Bond's

value.

The

value

of

an

Inverse

Floater

will

be

more

volatile

than

that

of

the

Underlying

Bond

because

the

interest

rate

is

dependent

on

not

only

the

fixed

coupon

rate

of

the

Underlying

Bond

but

also

on

the

short-term

interest

paid

on

the

Floaters,

and

because

the

Inverse

Floater

essentially

bears

the

risk

of

loss

(and

possible

gain)

of

the

greater

face

value

of

the

Underlying

Bond.

The

Inverse

Floater

held

by

a

Fund

gives

the

Fund

the

right

to

(a) cause

the

holders

of

the

Floaters

to

tender

their

certificates

at

par

(or

slightly

more

than

par

in

certain

circumstances),

and

(b) have

the

trustee

of

the

TOB

Trust

(the

"Trustee")

transfer

the

Underlying

Bond

held

by

the

TOB

Trust

to

the

Fund,

thereby

collapsing

the

TOB

Trust.

A Fund

may

acquire

an

Inverse

Floater

in

a

transaction

where

it

(a) transfers

an

Underlying

Bond

that

it

owns

to

a

TOB

Trust

created

by

a

third

party

or

(b) transfers

an

Underlying

Bond

that

it

owns,

or

that

it

has

purchased

in

a

secondary

market

transaction

for

the

purpose

of

creating

an

Inverse

Floater,

to

a

TOB

Trust

created

at

its

direction,

and

in

return

receives

the

Inverse

Floater

of

the

TOB

Trust

(referred

to

as

a

"self-deposited

Inverse

Floater").

A

Fund

may

also

purchase

an

Inverse

Floater

in

a

secondary

market

transaction

from

a

third

party

creator

of

the

TOB

Trust

without

first

owning

the

Underlying

Bond

(referred

to

as

an

"externally-deposited

Inverse

Floater").

An

investment

in

a

self-deposited

Inverse

Floater

is

accounted

for

as

a

"financing"

transaction

(i.e.,

a

secured

borrowing).

For

a

self-deposited

Inverse

Floater,

the

Underlying

Bond

deposited

into

the

TOB

Trust

is

identified

in

the

Fund's

Portfolio

of

Investments

as

"(UB)

–

Underlying

bond

of

an

inverse

floating

rate

trust

reflected

as

a

financing

transaction,"

with

the

Fund

recognizing

as

liabilities,

labeled

"Floating

rate

obligations"

on

the

Statement

of

Assets

and

Liabilities,

(a) the

liquidation

value

of

Floaters

issued

by

the

TOB

Trust,

and

(b) the

amount

of

any

borrowings

by

the

TOB

Trust

from

a

Liquidity

Provider

to

enable

the

TOB

Trust

to

purchase

outstanding

Floaters

in

lieu

of

a

remarketing.

In

addition,

the

Fund

recognizes

in

"Investment

Income"

the

entire

earnings

of

the

Underlying

Bond,

and

recognizes

(a) the

interest

paid

to

the

holders

of

the

Floaters

or

on

the

TOB

Trust's

borrowings,

and

(b) other

expenses

related

to

remarketing,

administration,

trustee,

liquidity

and

other

services

to

a

TOB

Trust,

as

a

component

of

"Interest

expense

and

amortization

of

offering

costs"

on

the

Statement

of

Operations.

Earnings

due

from

the

Underlying

Bond

and

interest

due

to

the

holders

of

the

Floaters

as

of

the

end

of

the current

fiscal period

are

recognized

as

components

of

"Receivable

for

interest"

and

"Payable

for

interest"

on

the

Statement

of

Assets

and

Liabilities,

respectively.

NNY

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

166,880,635

$

–

$

166,880,635

Total

$

–

$

166,880,635

$

–

$

166,880,635

NAN

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

602,188,131

$

–

$

602,188,131

Total

$

–

$

602,188,131

$

–

$

602,188,131

NQP

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

774,643,214

$

$

774,643,314

Variable

Rate

Senior

Loan

Interests

–

–

Short-Term

Investments:

Municipal

Bonds

–

5,500,000

–

5,500,000

Total

$

–

$

780,143,214

$

$

780,143,320

In

contrast,

an

investment

in

an

externally-deposited

Inverse

Floater

is

accounted

for

as

a

purchase

of

the

Inverse

Floater

and

is

identified

in

the

Fund's

Portfolio

of

Investments

as

"(IF)

–

Inverse

floating

rate

investment."

For

an

externally-deposited

Inverse

Floater,

a

Fund's

Statement

of

Assets

and

Liabilities

recognizes

the

Inverse

Floater

and

not

the

Underlying

Bond

as

an

asset,

and

the

Fund

does

not

recognize

the

Floaters,

or

any

related

borrowings

from

a

Liquidity

Provider,

as

a

liability.

Additionally,

the

Fund

reflects

in

"Investment

Income"

only

the

net

amount

of

earnings

on

the

Inverse

Floater

(net

of

the

interest

paid

to

the

holders

of

the

Floaters

or

the

Liquidity

Provider

as

lender,

and

the

expenses

of

the

Trust),

and

does

not

show

the

amount

of

that

interest

paid

or

the

expenses

of

the

TOB

Trust

as

described

above

as

interest

expense

on

the

Statement

of

Operations.

Fees

paid

upon

the

creation

of

a

TOB

Trust

for

self-deposited

Inverse

Floaters

and

externally-deposited

Inverse

Floaters

are

recognized

as

part

of

the

cost

basis

of

the

Inverse

Floater

and

are

capitalized

over

the

term

of

the

TOB

Trust.

As

of

the

end

of

the

current

fiscal

period,

the

aggregate

value

of

Floaters

issued

by

each

Fund's

TOB

Trust

for

self-deposited

Inverse

Floaters

and

externally-deposited

Inverse

Floaters

was

as

follows:

During

the

current

fiscal

period,

the

average

amount

of

Floaters

(including

any

borrowings

from

a

Liquidity

Provider)

outstanding,

and

the

average

annual

interest

rates

and

fees

related

to

self-deposited

Inverse

Floaters,

were

as

follows:

TOB

Trusts

are

supported

by

a

liquidity

facility

provided

by

a

Liquidity

Provider

pursuant

to

which

the

Liquidity

Provider

agrees,

in

the

event

that

Floaters

are

(a) tendered

to

the

Trustee

for

remarketing

and

the

remarketing

does

not

occur,

or

(b) subject

to

mandatory

tender

pursuant

to

the

terms

of

the

TOB

Trust

agreement,

to

either

purchase

Floaters

or

to

provide

the

Trustee

with

an

advance

from

a

loan

facility

to

fund

the

purchase

of

Floaters

by

the

TOB

Trust.

In

certain

circumstances,

the

Liquidity

Provider

may

otherwise

elect

to

have

the

Trustee

sell

the

Underlying

Bond

to

retire

the

Floaters

that

were

tendered

and

not

remarketed

prior

to

providing

such

a

loan.

In

these

circumstances,

the

Liquidity

Provider

remains

obligated

to

provide

a

loan

to

the

extent

that

the

proceeds

of

the

sale

of

the

Underlying

Bond

are

not

sufficient

to

pay

the

purchase

price

of

the

Floaters.

The

size

of

the

commitment

under

the

loan

facility

for

a

given

TOB

Trust

is

at

least

equal

to

the

balance

of

that

TOB

Trust's

outstanding

Floaters

plus

any

accrued

interest.

In

consideration

of

the

loan

facility,

fee

schedules

are

in

place

and

are

charged

by

the

Liquidity

Provider(s).

Any

loans

made

by

the

Liquidity

Provider

will

be

secured

by

the

purchased

Floaters

held

by

the

TOB

Trust.

Interest

paid

on

any

outstanding

loan

balances

will

be

effectively

borne

by

the

Fund

that

owns

the

Inverse

Floaters

of

the

TOB

Trust

that

has

incurred

the

borrowing

and

may

be

at

a

rate

that

is

greater

than

the

rate

that

would

have

been

paid

had

the

Floaters

been

successfully

remarketed.

As

described

above,

any

amounts

outstanding

under

a

liquidity

facility

are

recognized

as

a

component

of

"Floating

rate

obligations"

on

the

Statement

of

Assets

and

Liabilities

by

the

Fund

holding

the

corresponding

Inverse

Floaters

issued

by

the

borrowing

TOB

Trust.

As

of

the

end

of

the

current

fiscal

period,

there

were

no

loans

outstanding

under

any such

facility.

Fund

Floating

Rate

Obligations:

Self-

Deposited

Inverse

Floaters

Floating

Rate

Obligations:

Externally-Deposited

Inverse

Floaters

Total

NAZ

$

—

$

—

$

—

NKX

33,485,000

—

33,485,000

NCA

—

—

—

NAC

68,590,000

—

68,590,000

NXJ

63,850,000

—

63,850,000

NRK

13,480,000

—

13,480,000

NNY

—

—

—

NAN

28,840,000

—

28,840,000

NQP

106,940,000

—

106,940,000

Fund

Average

Floating

Rate

Obligations

Outstanding

Average

Annual

Interest

Rate

And

Fees

NAZ

$

—

—

%

NKX

33,485,000

2.94 NCA

—

—

NAC

49,455,753

3.42 NXJ

63,850,000

2.93 NRK

13,480,000

2.92 NNY

—

—

NAN

28,840,000

2.93 NQP

106,940,000

3.00 146

#### Notes

#### to

#### Financial

#### Statements
(continued)

Each

Fund

may

also

enter

into

shortfall

and

forbearance

agreements

(sometimes

referred

to

as

a

"recourse

arrangement")

(TOB

Trusts

involving

such

agreements

are

referred

to

herein

as

"Recourse

Trusts"),

under

which

a

Fund

agrees

to

reimburse

the

Liquidity

Provider

for

the

Trust's

Floaters,

in

certain

circumstances,

for

the

amount

(if

any)

by

which

the

liquidation

value

of

the

Underlying

Bond

held

by

the

TOB

Trust

may

fall

short

of

the

sum

of

the

liquidation

value

of

the

Floaters

issued

by

the

TOB

Trust

plus

any

amounts

borrowed

by

the

TOB

Trust

from

the

Liquidity

Provider,

plus

any

shortfalls

in

interest

cash

flows

(sometimes

referred

to

as

"shortfall

payments").

Under

these

agreements,

a

Fund's

potential

exposure

to

losses

related

to

or

on

an

Inverse

Floater

may

increase

beyond

the

value

of

the

Inverse

Floater

as

a

Fund

may

potentially

be

liable

to

fulfill

all

amounts

owed

to

holders

of

the

Floaters

or

the

Liquidity

Provider.

Any

such

shortfall

amount

in

the

aggregate

is

recognized

as

"Unrealized

depreciation

on

Recourse

Trusts"

on

the

Statement

of

Assets

and

Liabilities.

As

of

the

end

of

the

current

fiscal

period, each

Fund's

maximum

exposure

to

the

Floaters

issued

by

Recourse

Trusts

for

self-deposited

Inverse

Floaters

and

externally-deposited

Inverse

Floaters

was

as

follows:

Zero

Coupon

Securities:

A

zero

coupon

security

does

not

pay

a

regular

interest

coupon

to

its

holders

during

the

life

of

the

security.

Income

to

the

holder

of

the

security

comes

from

accretion

of

the

difference

between

the

original

purchase

price

of

the

security

at

issuance

and

the

par

value

of

the

security

at

maturity

and

is

effectively

paid

at

maturity.

The

market

prices

of

zero

coupon

securities

generally

are

more

volatile

than

the

market

prices

of

securities

that

pay

interest

periodically.

Purchases

and

Sales:

Long-term

purchases

and

sales during

the

current fiscal

period

were

as

follows:

The

Funds

may

purchase

securities

on

a

when-issued

or

delayed-delivery

basis.

Securities

purchased

on

a

when-issued

or

delayed-delivery

basis

may

have

extended

settlement

periods;

interest

income

is

not

accrued

until

settlement

date.

Any

securities

so

purchased

are

subject

to

market

fluctuation

during

this

period. If

a

Fund

has

outstanding

when-issued/delayed-delivery

purchases

commitments

as

of

the

end

of

the

current

fiscal

period,

such

amounts

are

recognized

on

the

Statement

of

Assets

and

Liabilities.

Sale

of

Vistra

Vision

interests:

On

September

18,

2024,

Vistra

Corp.

("Vistra")

and

Nuveen

agreed

to

terms

for

the

sale

of

the

Vistra

Vision

interest.

In

exchange

for

its

interest

in

Vistra

Vision,

NQP

will

receive

proceeds

from

the

sale

over

a

series

of

payments

from

Vistra

through

December

31,

2026. The

resulting

receivables

have

been

discounted

using

an

effective

interest

rate

of

6.18%.

The

receivable,

net

of

discount,

and

related

transaction

costs

are

recognized

as

"Receivable

for

sale

of

Vistra

Vision

interest"

and

"Payable

for

Vistra

Vision

sale

transactions

costs,"

respectively,

on

the

Statement

of

Assets

and

Liabilities.

Fund

Maximum

Exposure

to

Recourse

Trusts:

Self-Deposited

Inverse

Floaters

Maximum

Exposure

to

Recourse

Trusts:

Externally-Deposited

Inverse

Floaters

Total

NAZ

$

—

$

—

$

—

NKX

33,485,000

—

33,485,000

NCA

—

—

—

NAC

68,590,000

—

68,590,000

NXJ

63,850,000

—

63,850,000

NRK

13,480,000

—

13,480,000

NNY

—

—

—

NAN

28,840,000

—

28,840,000

NQP

106,940,000

—

106,940,000

Fund

Non-U.S.

Government

Purchases

Non-U.S.

Government

Sales

and

Maturities

NAZ

$

15,294,714

$

3,202,000

NKX

116,516,081

89,693,805

NCA

16,790,695

7,115,133

NAC

168,530,535

91,475,907

NXJ

20,056,514

35,102,646

NRK

94,157,026

123,236,800

NNY

9,570,213

8,300,000

NAN

28,290,610

30,758,598

NQP

62,796,265

68,864,082

5. Derivative

Investments

Each

Fund

is

authorized

to

invest

in

certain

derivative

instruments.

As

defined

by

U.S.

GAAP,

a

derivative

is

a

financial

instrument

whose

value

is

derived

from

an

underlying

security

price,

foreign

exchange

rate,

interest

rate,

index

of

prices

or

rates,

or

other

variables.

Investments

in

derivatives

as

of

the

end

of

and/or

during

the

current

fiscal

period,

if

any,

are

included

within

the

Statement

of

Assets

and

Liabilities

and

the

Statement

of

Operations,

respectively.

Market

and

Counterparty

Credit

Risk:

In

the

normal

course

of

business

each

Fund

may

invest

in

financial

instruments

and

enter

into

financial

transactions

where

risk

of

potential

loss

exists

due

to

changes

in

the

market

(market

risk)

or

failure

of

the

other

party

to

the

transaction

to

perform

(counterparty

credit

risk).

The

potential

loss

could

exceed

the

value

of

the

financial

assets

recorded

on

the

financial

statements.

Financial

assets,

which

potentially

expose

each

Fund

to

counterparty

credit

risk,

consist

principally

of

cash

due

from

counterparties

on

forward,

option

and

swap

transactions,

when

applicable.

The

extent

of

each

Fund's

exposure

to

counterparty

credit

risk

in

respect

to

these

financial

assets

approximates

their

carrying

value

as

recorded

on

the

Statement

of

Assets

and

Liabilities.

Each

Fund

helps

manage

counterparty

credit

risk

by

entering

into

agreements

only

with

counterparties

the

Adviser

believes

have

the

financial

resources

to

honor

their

obligations

and

by

having

the

Adviser

monitor

the

financial

stability

of

the

counterparties.

Additionally,

counterparties

may

be

required

to

pledge

collateral

daily

(based

on

the

daily

valuation

of

the

financial

asset)

on

behalf

of

each

Fund

with

a

value

approximately

equal

to

the

amount

of

any

unrealized

gain

above

a

pre-determined

threshold.

Reciprocally,

when

each

Fund

has

an

unrealized

loss,

the

Funds

have

instructed

the

custodian

to

pledge

assets

of

the

Funds

as

collateral

with

a

value

approximately

equal

to

the

amount

of

the

unrealized

loss

above

a

pre-determined

threshold.

Collateral

pledges

are

monitored

and

subsequently

adjusted

if

and

when

the

valuations

fluctuate,

either

up

or

down,

by

at

least

the

pre-determined

threshold

amount.

6. Fund

Shares

Common

Shares

Equity

Shelf

Programs

and

Offering

Costs:

The

following

Funds

have

filed

a

registration

statement

with

the Securities

and

Exchange

Commission

("SEC") authorizing each

Fund

to

issue

additional

common

shares

through

one

or

more

equity

shelf

programs

("Shelf

Offering"),

which

became

effective

with

the

SEC

during

the

current

fiscal

period.

Under

this

Shelf

Offering,

the

Funds,

subject

to

market

conditions,

may

raise

additional

equity

capital

by

issuing

additional

common

shares

from

time

to

time

in

varying

amounts

and

by

different

offering

methods

at

a

net

price

at

or

above each

Fund's

NAV

per

common

share.

In

the

event

the

Fund's

Shelf

Offering

registration

statement

is

no

longer

current,

the

Fund

may

not

issue

additional

common

shares

until

a

post-effective

amendment

to

the

registration

statement

has

been

filed

with

the

SEC.

Maximum

aggregate

offering,

common

shares

sold

and

offering

proceeds,

net

of

offering

costs

under

the

Fund's

Shelf

Offering

during

the

Fund's

current

and

prior

fiscal

period

were

as

follows:

Costs

incurred

by

the

Funds'

in

connection

with

their

initial

shelf

registration

are

recorded

as

a

prepaid

expense

and

recognized

as

"Deferred

offering

costs"

on

the

Statement

of

Assets

and

Liabilities.

These

costs

are

amortized

pro

rata

as

common

shares

are

sold

and

are

recognized

as

a

component

of

"Proceeds

from

shelf

offering,

net

of

offering

costs"

on

the

Statement

of

Changes

in

Net

Assets.

Any

deferred

offering

costs

remaining

one

year

after

effectiveness

of

the

initial

shelf

registration

will

be

expensed.

Costs

incurred

by

the

Fund

to

keep

the

shelf

registration

current

are

expensed

as

incurred

and

recognized

as

a

component

of

"Other

expenses"

on

the

Statement

of

Operations.

NAZ

NKX

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Maximum

aggregate

offering

1,200,000

1,200,000

19,548,000

4,800,000

Common

shares

sold

697,533

490,326

3,663,747

2,040,416

Offering

proceeds,

net

of

offering

costs

$8,169,886

$5,699,157

$45,922,859

$24,501,438

NAC

NAN

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Maximum

aggregate

offering

30,400,000

14,500,000

3,100,000

3,100,000

Common

shares

sold

10,465,314

1,006,029

864,735

166,880

Offering

proceeds,

net

of

offering

costs

$122,855,185

$11,173,911

$9,830,981

$1,811,164

#### Notes

#### to

#### Financial

#### Statements
(continued)

Common Shares

Repurchase

Program:

The Board

reauthorized

an

open-market

share

repurchase

program,

allowing

each

Fund

to

repurchase

and

retire

an

aggregate

of

up

to

approximately

10%

of

its

outstanding

common

shares.

Common Share

Transactions:

Transactions

in common

shares

for

the

Funds

during

the

Funds'

current

and

prior

fiscal

period,

where

applicable,

were

as

follows:

Preferred

Shares

Adjustable

Rate

MuniFund

Term

Preferred

Shares:

The

following

Funds

have

issued

and

has

outstanding

Adjustable

Rate

MuniFund

Term

Preferred

("AMTP")

Shares,

with

a

$100,000

liquidation

preference

per

share.

AMTP

Shares

are

issued

via

private

placement

and

are

not

publicly

available.

The

details

of

the

Funds'

AMTP

Shares

outstanding

as

of

the

end

of

the

current

fiscal

period,

were

as

follows:

The

Fund

is

obligated

to

redeem

its

AMTP

Shares

by

the

date

as

specified

in

its

offering

document

("Term

Redemption

Date"),

unless

earlier

redeemed

by

the

Fund.

AMTP

Shares

are

subject

to

optional

and

mandatory

redemption

in

certain

circumstances.

The

AMTP

Shares

may

be

redeemed

at

the

option

of

the

Fund,

subject

to

payment

of

premium

for

approximately

six

months

following

the

date

of

issuance

("Premium

Expiration

Date"),

and

at

the

redemption

price

per

share

thereafter.

The

redemption

price

per

share

is

equal

to

the

sum

of

the

liquidation

preference

per

share

plus

any

accumulated

but

unpaid

dividends.

AMTP

Shares

are

short-term

or

short/intermediate-term

instruments

that

pay

a

variable

dividend

rate

tied

to

a

short-term

index,

plus

an

additional

fixed

"spread"

amount

which

is

initially

established

at

the

time

of

issuance

and

may

be

adjusted

in

the

future

based

upon

a

mutual

agreement

between

the

majority

owner

and

the

Fund.

From

time-to-time

the

majority

owner

may

propose

to

the

Fund

an

adjustment

to

the

dividend

rate.

Should

the

majority

owner

and

the

Fund

fail

to

agree

upon

an

adjusted

dividend

rate,

and

such

proposed

dividend

rate

adjustment

is

not

withdrawn,

the

Fund

will

be

required

to

redeem

all

outstanding

shares

upon

the

end

of

a

notice

period.

In

addition,

the

Fund

may

be

obligated

to

redeem

a

certain

amount

of

the

AMTP

Shares

if

the

Fund

fails

to

maintain

certain

asset

coverage

and

leverage

ratio

requirements

and

such

failures

are

not

cured

by

the

applicable

cure

date.

The

Term

Redemption

Date

and

Premium

Expiration

Date

for

the

Fund's

AMTP

Shares

are

as

follows:

NAZ

NKX

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Common

Shares:

Sold

through

shelf

offering

697,533

490,326

3,663,747

2,040,416

Issued

to

shareholders

due

to

reinvestment

of

distributions

14,348

17,078

78,225

141,083

Total

711,881

507,404

3,741,972

2,181,499

Weighted

average

common

share:

Premium

to

NAV

per

shelf

offering

common

share

sold

2.17%

4.97%

4.47%

1.51%

NAC

NAN

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Unaudited

Six

Months

Ended

2/28/26

Year

Ended

8/31/25

Common

Shares:

Sold

through

shelf

offering

10,465,314

1,006,029

864,735

166,880

Issued

to

shareholders

due

to

reinvestment

of

distributions

133,297

—

39,612

40,292

Total

10,598,611

1,006,029

904,347

207,172

Weighted

average

common

share:

Premium

to

NAV

per

shelf

offering

common

share

sold

1.31%

1.41%

0.60%

0.87%

Fund

Series

Shares

Outstanding

Liquidation

Preference

Liquidation

Preference,

net

of

deferred

offering

costs

NAZ

2028

883

$88,300,000

$88,276,062

NAN

2028

1,270

$127,000,000

$126,973,221

The

average

liquidation

preference

of

AMTP

Shares

outstanding

and

annualized

dividend

rate

for

the

Fund

during

the

current

fiscal

period

were

as

follows:

AMTP

Shares

are

subject

to

restrictions

on

transfer,

generally

do

not

trade,

and

market

quotations

are

generally

not

available.

The

fair

value

of

AMTP

Shares

is

expected

to

be

approximately

their

liquidation

preference

so

long

as

the

fixed

"spread"

on

the

AMTP

Shares

remains

roughly

in

line

with

the

"spread"

being

demanded

by

investors

on

instruments

having

similar

terms

in

the

current

market

environment.

In

present

market

conditions,

the

Funds'

Adviser

has

determined

that

the

fair

value

of

AMTP

Shares

is

approximately

their

liquidation

preference,

but

their

fair

value

could

vary

if

market

conditions

change

materially.

For

financial

reporting

purposes,

the

liquidation

preference

of

AMTP

Shares

is

a

liability

and

is

recognized

as

a

component

of

"AMTP

Shares,

Net"

on

the

Statement

of

Assets

and

Liabilities.

AMTP

Share

dividends

are

treated

as

interest

payments

for

financial

reporting

purposes.

Unpaid

dividends

on

AMTP

Shares

are

recognized

as

a

component

of

"Payable

for

interest"

on

the

Statement

of

Assets

and

Liabilities.

Dividends

accrued

on

AMTP

Shares

are

recognized

as

a

component

of

"Interest

expense

and

amortization

of

offering

costs"

on

the

Statement

of

Operations.

Costs

incurred

in

connection

with

the

Fund's

offering

of

AMTP

Shares

were

recorded

as

deferred

charges,

which

are

amortized

over

the

life

of

the

shares

and

are

recognized

as

components

of

"AMTP

Shares,

Net"

on

the

Statement

of

Assets

and

Liabilities

and

"Interest

expense

and

amortization

of

offering

costs"

on

the

Statement

of

Operations.

MuniFund

Preferred

Shares

:

NKX,

NAC

and

NRK

have

issued

and

have

outstanding

MuniFund

Preferred

("MFP")

Shares,

with

a

$100,000

liquidation

preference

per

share.

These

MFP

Shares

were

issued

via

private

placement

and

are

not

publicly

available.

The

Funds

are

obligated

to

redeem

their

MFP

Shares

by

the

date

as

specified

in

its

offering

documents

("Term

Redemption

Date"),

unless

earlier

redeemed

by

the

Funds.

MFP

Shares

are

initially

issued

in

a

pre-specified

mode,

however,

MFP

Shares

can

be

subsequently

designated

as

an

alternative

mode

at

a

later

date

at

the

discretion

of

the

Funds.

The

modes

within

MFP

Shares

detail

the

dividend

mechanics

and

are

described

as

follows.

At

a

subsequent

date,

the

Funds

may

establish

additional

mode

structures

with

the

MFP

Share.

• Variable

Rate

Remarketed

Mode

("VRRM")

–

Dividends

for

MFP

Shares

within

this

mode

will

be

established

by

a

remarketing

agent;

therefore,

market

value

of

the

MFP

Shares

is

expected

to

approximate

its

liquidation

preference.

Shareholders

have

the

ability

to

request

a

best-efforts

tender

of

its

shares

upon

seven

days

notice.

If

the

remarketing

agent

is

unable

to

identify

an

alternative

purchaser,

the

shares

will

be

retained

by

the

shareholder

requesting

tender

and

the

subsequent

dividend

rate

will

increase

to

its

step-up

dividend

rate.

If

after

one

consecutive

year

of

unsuccessful

remarketing

attempts,

the

Fund

will

be

required

to

designate

an

alternative

mode

or

redeem

the

shares.

Each

Fund

will

pay

a

remarketing

fee

on

the

aggregate

principal

amount

of

all

MFP

Shares

while

designated

in

VRRM.

Payments

made

by

the

Fund

to

the

remarketing

agent

are

recognized

as

"Remarketing

fees"

on

the

Statement

of

Operations.

• Variable

Rate

Mode

("VRM")

–

Dividends

for

MFP

Shares

designated

in

this

mode

are

based

upon

a

short-term

index

plus

an

additional

fixed

"spread"

amount

established

at

the

time

of

issuance

or

renewal

/

conversion

of

its

mode.

At

the

end

of

the

period

of

the

mode,

the

Fund

will

be

required

to

either

extend

the

term

of

the

mode,

designate

an

alternative

mode

or

redeem

the

MFP

Shares.

The

fair

value

of

MFP

Shares

while

in

VRM

are

expected

to

approximate

their

liquidation

preference

so

long

as

the

fixed

"spread"

on

the

shares

remains

roughly

in

line

with

the

"spread"

being

demanded

by

investors

on

instruments

having

similar

terms

in

the

current

market.

During

the

current

fiscal

period,

the

Adviser

has

determined

that

the

fair

value

of

the

shares

approximated

their

liquidation

preference.

• Variable

Rate

Demand

Mode

("VRDM")

–

Dividends

for

MFP

Shares

designated

in

this

mode

will

be

established

by

a

remarketing

agent;

therefore,

the

market

value

of

the

MFP

Shares

is

expected

to

approximate

its

liquidation

preference.

While

in

this

mode,

shares

will

have

an

unconditional

liquidity

feature

that

enable

its

shareholders

to

require

a

liquidity

provider,

which

the

Fund

has

entered

into

a

contractual

agreement,

to

purchase

shares

in

the

event

that

the

shares

are

not

able

to

be

successfully

remarketed.

In

the

event

that

shares

within

this

mode

are

unable

to

be

successfully

Fund

Notice

Period

Series

Term

Redemption

Date

Premium

Expiration

Date

NAZ

180-day

2028

December

1,

2028\*

February

13,

2019

NAN

180-day

2028

December

1,

2028\*

November

30,

2019

\*

Subject

to

early

termination

by

either

the

Fund

or

the

holder.

Fund

Average

Liquidation

Preference

of

AMTP

Shares

Outstanding

Annualized

Dividend

Rate

NAZ

$

88,300,000

3.39 %

NAN

127,000,000

3.54 150

#### Notes

#### to

#### Financial

#### Statements
(continued)

remarketed

and

are

purchased

by

the

liquidity

provider,

the

dividend

rate

will

be

the

maximum

rate

which

is

designed

to

escalate

according

to

a

specified

schedule

in

order

to

enhance

the

remarketing

agent's

ability

to

successfully

remarket

the

shares.

Each

Fund

is

required

to

redeem

any

shares

that

are

still

owned

by

a

liquidity

provider

after

six

months

of

continuous,

unsuccessful

remarketing.

The

Fund

will

pay

a

liquidity

and

remarketing

fee

on

the

aggregate

principal

amount

of

all

MFP

shares

while

within

VRDM.

Payments

made

by

the

Fund

to

the

liquidity

provider

and

remarketing

agent

are

recognized

as

"Liquidity

fees"

and

"Remarketing

fees",

respectively,

on

the

Statement

Operations.

For

financial

reporting

purposes,

the

liquidation

preference

of

MFP

Shares

is

recorded

as

a

liability

and

is

recognized

as

a

component

of

"MFP

Shares,

Net"

on

the

Statement

of

Assets

and

Liabilities.

Dividends

on

the

MFP

shares

are

treated

as

interest

payments

for

financial

reporting

purposes.

Unpaid

dividends

on

MFP

shares

are

recognized

as

a

component

on

"Payable

for

interest"

on

the

Statement

of

Assets

and

Liabilities.

Dividends

accrued

on

MFP

Shares

are

recognized

as

a

component

of

"Interest

expense

and

amortization

of

offering

costs"

on

the

Statement

of

Operations.

Subject

to

certain

conditions,

MFP

Shares

may

be

redeemed,

in

whole

or

in

part,

at

any

time

at

the

option

of

the

Fund.

The

Fund

may

also

be

required

to

redeem

certain

MFP

Shares

if

the

Fund

fails

to

maintain

certain

asset

coverage

requirements

and

such

failures

are

not

cured

by

the

applicable

cure

date.

The

redemption

price

per

share

in

all

circumstances

is

equal

to

the

liquidation

preference

per

share

plus

any

accumulated

but

unpaid

dividends.

Costs

incurred

in

connection

with

the

Fund's

offering

of

MFP

Shares

were

recorded

as

a

deferred

charge

and

are

being

amortized

over

the

life

of

the

shares.

These

offering

costs

are

recognized

as

a

component

of

"MFP

Shares,

Net"

on

the

Statement

of

Assets

and

Liabilities

and

"Interest

expense

and

amortization

of

offering

costs"

on

the

Statement

of

Operations.

As

of

the

end

of

the

current

fiscal

period,

NKX,

NAC

and

NRK

had

$140,070,493,

$256,956,885

and

$79,642,926

respectively,

of

MFP

Shares

at

liquidation

preference,

net

of

deferred

offering

costs.

Further

details

of

each

Fund's

MFP

Shares

outstanding

were

as

follows:

The

average

liquidation

preference

of

MFP

Shares

outstanding

and

the

annualized

dividend

rate

for

the

Fund

during

the

current

fiscal

period

were

as

follows:

Variable

Rate

Demand

Preferred

Shares:

The

following

Funds

have

issued

and

have

outstanding

Variable

Rate

Demand

Preferred

("VRDP")

Shares,

with

a

$100,000

liquidation

preference

per

share.

VRDP

Shares

are

issued

via

private

placement

and

are

not

publicly

available.

As

of

the

end

of

the

current

fiscal

period,

NKX,

NAC,

NXJ,

NRK,

NAN

and

NQP

had

$255,801,320,

$881,741,949,

$312,862,377,

$582,413,543,

$88,363,758

and

$216,923,225

VRDP

Shares

at

liquidation

preference,

net

of

deferred

offering

costs,

respectively.

Further

details

of

the

Funds'

VRDP

Shares

outstanding

as

of

the

end

of

the

current

fiscal

period,

were

as

follows:

Fund

Series

Shares

Outstanding

Liquidation

Preference

Term

Redemption

Date

Mode

Mode

Termination

Date

NKX

A

1,404

$140,400,000

October

1,

2047

VRRM

N/A

NAC

A

2,570

$257,000,000

January

3,

2028

VRM

January

3,

2028\*

NRK

A

800

$80,000,000

May

1,

2047

VRRM

May

1,

2047

\*

Subject

to

early

termination

by

either

the

Fund

or

the

holder.

Fund

Average

Liquidation

Preference

of

MFP

Shares

Outstanding

Annualized

Dividend

Rate

NKX

$

140,400,000

2.93 %

NAC

257,000,000

3.81 NRK

80,000,000

2.93 151

VRDP

Shares

include

a

liquidity

feature

that

allows

VRDP

shareholders

to

have

their

shares

purchased

by

a

liquidity

provider

with

whom

each

Fund

has

contracted

in

the

event

that

the

VRDP

Shares

are

not

able

to

be

successfully

remarketed.

Each

Fund

is

required

to

redeem

any

VRDP

Shares

that

are

still

owned

by

the

liquidity

provider

after

six

months

of

continuous,

unsuccessful

remarketing.

Each

Fund

pays

an

annual

remarketing

fee

on

the

aggregate

principal

amount

of

all

VRDP

Shares

outstanding.

Each

Fund's

VRDP

Shares

have

successfully

remarketed

since

issuance.

NAC's

Series

2,

Series

and

Series

VRDP

Shares

and

all

series

of

NXJ

and

NQP's

VRDP

Shares

are

considered

to

be

Special

Rate

VRDP,

which

are

sold

to

institutional

investors.

During

the

special

rate

period,

the

VRDP

Shares

will

not

be

remarketed

by

a

remarketing

agent,

be

subject

to

optional

or

mandatory

tender

events,

or

be

supported

by

a

liquidity

provider

and

are

not

subject

to

remarking

fees

or

liquidity

fees.

During

the

special

rate

period,

VRDP

dividends

will

be

set

monthly

as

a

floating

rate

based

on

the

predetermined

formula.

Following

the

initial

special

rate

period,

Special

Rate

Period

VRDP

Shares

may

transition

to

traditional

VRDP

Shares

with

dividends

set

at

weekly

remarketings,

and

be

supported

by

a

designated

liquidity

provider,

or

the

Board

may

approve

a

subsequent

special

rate

period.

The

fair

value

of

Special

Rate

VRDP

Shares

is

expected

to

approximate

their

liquidation

preference

so

long

as

the

fixed

"spread"

on

the

shares

remains

roughly

in

line

with

the

"spread"

being

demanded

by

investors

on

instruments

having

similar

terms

in

the

current

market.

During

the

current

reporting

period,

the

Adviser

has

determined

that

the

fair

value

of

the

shares

approximated

their

liquidation

preference.

Dividends

on

the

VRDP

Shares

(which

are

treated

as

interest

payments

for

financial

reporting

purposes)

are

set

at

a

rate

established

by

a

remarketing

agent;

therefore,

the

market

value

of

the

VRDP

Shares

is

expected

to

approximate

its

liquidation

preference.

In

the

event

that

VRDP

Shares

are

unable

to

be

successfully

remarketed,

the

dividend

rate

will

be

the

maximum

rate

which

is

designed

to

escalate

according

to

a

specified

schedule

in

order

to

enhance

the

remarketing

agent's

ability

to

successfully

remarket

the

VRDP

Shares.

Subject

to

certain

conditions,

VRDP

Shares

may

be

redeemed,

in

whole

or

in

part,

at

any

time

at

the

option

of

each

Fund.

Each

Fund

may

also

redeem

certain

of

the

VRDP

Shares

if

the

Fund

fails

to

maintain

certain

asset

coverage

requirements

and

such

failures

are

not

cured

by

the

applicable

cure

date.

The

redemption

price

per

share

is

equal

to

the

sum

of

the

liquidation

preference

per

share

plus

any

accumulated

but

unpaid

dividends.

Fund

Series

Shares

Outstanding

Remarketing

Fees\*

Liquidation

Preference

Special

Rate

Period

Expiration

Maturity

NKX

0.05%

$42,700,000

N/A

March

1,

2040

1,090

0.10%

$109,000,000

N/A

December

1,

2040

1,050

0.10%

$105,000,000

N/A

June

1,

2046

NAC

1,362

0.10%

$136,200,000

N/A

June

1,

2041

910

N/A\*\*

$91,000,000

February

3,

2027

December

1,

2040

1,056

0.10%

$105,600,000

N/A

December

1,

2042

1,349

N/A\*\*

$134,900,000

September

2,

2026

August

1,

2040

1,581

0.10%

$158,100,000

N/A

August

1,

2040

980

0.10%

$98,000,000

N/A

August

3,

2043

1,600

N/A\*\*

$160,000,000

N/A

November

6,

2026

NXJ

810

N/A\*\*

$81,000,000

July

15,

2026

August

3,

2043

1,443

N/A\*\*

$144,300,000

April

1,

2043\*\*\*

April

1,

2043

886

N/A\*\*

$88,600,000

April

1,

2043\*\*\*

April

1,

2043

NRK

1,123

0.10%

$112,300,000

N/A

August

1,

2040

1,348

0.10%

$134,800,000

N/A

August

1,

2040

1,617

0.10%

$161,700,000

N/A

December

1,

2040

1,750

0.05%

$175,000,000

N/A

June

1,

2046

NAN

890

0.05%

$89,000,000

N/A

March

1,

2040

NQP

1,125

N/A\*\*

$112,500,000

December

1,

2042\*\*\*

December

1,

2042

1,050

N/A\*\*

$105,000,000

December

1,

2042\*\*\*

December

1,

2042

\*

Remarketing

fees

as

a

percentage

of

the

aggregate

principal

amount

of

all

VRDP

Shares

outstanding

for

each

series.

\*\*

Not

applicable.

Series

is

considered

to

be

Special

Rate

VRDP

and

therefore

does

not

pay

a

remarketing

fee.

\*\*\*

Subject

to

earlier

termination

by

either

the

Fund

or

the

holder.

#### Notes

#### to

#### Financial

#### Statements
(continued)

The

average

liquidation

preference

of

VRDP

Shares

outstanding

and

annualized

dividend

rate

for

each

Fund

during

the

current

fiscal

period

were

as

follows:

For

financial

reporting

purposes,

the

liquidation

preference

of

VRDP

Shares

is

a

liability

and

is

recognized

as

a

component

of

"VRDP

Shares,

Net"

on

the

Statement

of

Assets

and

Liabilities.

Unpaid

dividends

on

VRDP

Shares

are

recognized

as

a

component

of

"Payable

for

interest"

on

the

Statement

of

Assets

and

Liabilities,

when

applicable.

Dividends

accrued

on

VRDP

Shares

are

recognized

as

a

component

of

"Interest

expense

and

amortization

of

offering

costs"

on

the

Statement

of

Operations.

Costs

incurred

by

the

Funds

in

connection

with

their

offerings

of

VRDP

Shares

were

recorded

as

a

deferred

charge,

which

are

amortized

over

the

life

of

the

shares

and

are

recognized

as

a

component

of

"VRDP

Shares,

Net"

on

the

Statement

of

Assets

and

Liabilities

and

"Interest

expense

and

amortization

of

offering

costs"

on

the

Statement

of

Operations.

In

addition

to

interest

expense,

each

Fund

may

also

pay

a

per

annum

liquidity

fee

to

the

liquidity

provider,

as

well

as

a

remarketing

fee,

which

are

recognized

as

"Liquidity

fees"

and

"Remarketing

fees,"

respectively,

on

the

Statement

of

Operations.

Preferred

Share

Transactions:

Transactions

in

preferred

shares

during

the

Funds'

current

and

prior

fiscal

period,

where

applicable,

are

noted

in

the

following

tables.

Transactions

in

MFP

Shares

for

the

Funds,

where

applicable,

were

as

follows:

Transactions

in

VRDP

Shares

for

the

Funds,

where

applicable,

were

as

follows:

7. Income

Tax

Information

Each

Fund

is

a

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Each

Fund

intends

to

satisfy

conditions

that

will

enable

interest

from

municipal

securities,

which

is

exempt

from

regular

federal

and

designated

state

income

taxes,

and

in

the

case

of

NKX

and

NRK,

the

alternative

minimum

tax

applicable

to

individuals,

to

retain

such

tax-exempt

status

when

distributed

to

shareholders

of

the

Funds.

Net

realized

capital

gains

and

ordinary

income

distributions

paid

by

the

Funds

are

subject

to

federal

taxation.

Each

Fund

intends

to

satisfy

conditions

that

will

enable

interest

from

municipal

securities,

which

is

exempt

from

regular

federal

and

designated

state

income

taxes,

to

retain

such

tax-exempt

status

when

distributed

to

shareholders

of

the

Funds.

Net

realized

capital

gains

and

ordinary

income

distributions

paid

by

the

Funds

are

subject

to

federal

taxation.

Fund

Average

Liquidation

Preference

of

VRDP

Shares

Outstanding

Annualized

Dividend

Rate

NKX

$

256,700,000

2.51 %

NAC

897,987,845

2.94 NXJ

313,900,000

3.59 NRK

583,800,000

2.53 NAN

89,000,000

2.64 NQP

217,500,000

3.59 Year

Ended

August

31,

2025

Series

Shares

Amount

MFP

Shares

redeemed

A

(180) $(18,000,000)

Six-Month

Ended

February

28,

2026

NAC

Series

Shares

Amount

VRDP

Shares

redeemed

(240) $(24,000,000)

Each

Fund

files

income

tax

returns

in

U.S.

federal

and

applicable

state

and

local

jurisdictions.

A

Fund's

federal

income

tax

returns

are

generally

subject

to

examination

for

a

period

of

three

fiscal

years

after

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

each

Fund's

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund's

financial

statements.

As

of

the

end

of

the

reporting

period,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes

were

as

follows:

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable.

As

of

prior

fiscal

period

end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

Fund

Tax

Cost

Gross

Unrealized

Appreciation

Gross

Unrealized

(Depreciation)

Net

Unrealized

Appreciation

(Depreciation)

NAZ

$

240,888,249

$

5,081,583

$

(4,475,996)

$

605,587

NKX

1,006,582,370

50,476,905

(22,482,822)

27,994,083

NCA

298,665,179

14,423,380

(6,927,451)

7,495,929

NAC

2,941,251,841

116,874,887

(69,667,098)

47,207,789

NXJ

833,742,925

32,586,338

(24,326,191)

8,260,147

NRK

1,571,945,881

45,612,712

(22,518,885)

23,093,827

NNY

164,920,476

4,062,159

(2,102,000)

1,960,159

NAN

568,256,652

13,516,849

(8,425,370)

5,091,479

NQP

673,427,909

17,593,367

(17,817,956)

(224,589)

Fund

Undistributed

Tax-Exempt

Income

Undistributed

Ordinary

Income

Undistributed

Long-Term

Capital

Gains

Unrealized

Appreciation

(Depreciation)

Capital

Loss

Carryforwards

Late-Year

Loss

Deferrals

Other

Book-to-Tax

Differences

Total

NAZ

$

—

$

—

$

—

$

(11,283,633)

$

(8,588,658)

$

—

$

(874,795)

$

(20,747,086)

NKX

—

8,689

—

(21,813,935)

(36,154,230)

—

(3,758,505)

(61,717,981)

NCA

1,197,736

64,513

—

(8,552,932)

(11,920,732)

—

(960,138)

(20,171,553)

NAC

—

21,946

—

(112,569,965)

(162,073,468)

—

(10,664,804)

(285,286,291)

NXJ

—

—

(35,497,078)

(15,749,731)

—

(3,236,785)

(54,483,201)

NRK

—

18,332

—

(64,305,111)

(162,610,402)

—

(6,019,236)

(232,916,417)

NNY

640,663

—

—

(6,049,569)

(11,414,764)

—

(557,139)

(17,380,809)

NAN

—

—

—

(23,417,669)

(59,529,598)

—

(2,226,040)

(85,173,307)

NQP

—

604,096

—

(41,743,516)

(18,062,797)

—

(2,902,989)

(62,105,206)

Undistributed

tax-exempt

income

(on

a

tax

basis)

has

not

been

reduced

for

the

dividend

declared

on

August

1,

2025

and

paid

on

September

1,

2025. 154

#### Notes

#### to

#### Financial

#### Statements
(continued)

As

of

prior

fiscal

period

end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire:

8. Management

Fees

and

Other

Transactions

with

Affiliates

Management

Fees

:

Each

Fund's

management

fee

compensates

the

Adviser

for

overall

investment

advisory

and

administrative

services

and

general

office

facilities.

The

Sub-Adviser

is

compensated

for

its

services

to

the

Funds

from

the

management

fees

paid

to

the

Adviser.

Each

Fund's

management

fee

consists

of

two

components

–

a

fund-level

fee,

based

only

on

the

amount

of

assets

within

each

individual

Fund,

and

a

complex-level

fee,

based

on

the

aggregate

amount

of

all

eligible

fund

assets

managed

by

the

Adviser,

and

for

NCA

and

NNY

a

gross

interest

income

component.

This

pricing

structure

enables

Fund

shareholders

to

benefit

from

growth

in

the

assets

within

their

respective

Fund

as

well

as

from

growth

in

the

amount

of

complex-wide

assets

managed

by

the

Adviser.

NCA

and

NNY

pay

an

annual

fund-level

fee,

payable

monthly,

of

0.15%

of

the

average

daily

net

assets

of

each

Fund,

as

well

as

4.125%

of

the

gross

interest

income

(excluding

interest

on

bonds

underlying

a

"self-deposited

inverse

floater"

trust

that

is

attributed

to

the

Fund

over

and

above

the

net

interest

earned

on

the

inverse

floater

itself)

of

each

Fund.

The

annual

fund-level

fee,

payable

monthly,

for

NAZ,

NKX,

NAC,

NXJ,

NRK,

NAN

and

NQP

is

calculated

according

to

the

following

schedules:

The

annual

complex-level

fee,

payable

monthly,

for

each

fund

is

calculated

according

to

the

following

schedule:

\*

The

complex-level

fee

is

calculated

based

upon

the

aggregate

daily

"eligible

assets"

of

all

Nuveen-branded

closed-end

funds

and

Nuveen

branded

open-end

funds

("Nuveen

Mutual

Funds").

Except

as

described

below,

eligible

assets

include

the

assets

of

all

Nuveen-branded

closed-end

funds

and

Nuveen

Mutual

Funds

organized

in

the

United

States.

Eligible

assets

do

not

include

the

net

assets

of:

Nuveen

fund-of-funds,

Nuveen

money

market

funds,

Nuveen

index

funds,

Nuveen

Large

Cap

Responsible

Equity

Fund

or

Nuveen

Life

Large

Cap

Responsible

Equity

Fund.

In

addition,

eligible

assets

include

a

fixed

percentage

of

the

aggregate

net

assets

of

the

active

equity

and

fixed

income

Nuveen

Mutual

Funds

advised

by

the

Adviser's

affiliate,

Teachers

Advisors,

LLC

(except

those

identified

above).

The

fixed

percentage

will

increase

annually

until

May

1,

2033,

at

which

time

eligible

assets

will

include

all

of

the

aggregate

net

assets

of

the

active

equity

and

fixed

income

Nuveen

Mutual

Funds

advised

by

Teachers

Advisors,

LLC

(except

those

identified

above).

Eligible

assets

include

closed-end

fund

assets

managed

by

the

Adviser

that

are

attributable

to

financial

leverage.

For

these

purposes,

financial

leverage

includes

the

closed-end

funds'

use

of

preferred

stock

and

borrowings

and

certain

investments

in

the

residual

interest

certificates

(also

called

inverse

floating

rate

securities)

in

tender

option

bond

(TOB)

trusts,

including

the

portion

of

assets

held

by

a

TOB

trust

that

has

been

effectively

financed

by

the

trust's

issuance

of

floating

rate

securities,

subject

to

an

agreement

by

the

Adviser

as

to

certain

funds

to

limit

the

amount

of

such

assets

for

determining

eligible

assets

in

certain

circumstances.

Fund

Short-Term

Long-Term

Total

NAZ

$

3,449,252

$

5,139,406

$

8,588,658

NKX

14,139,534

22,014,696

36,154,230

NCA

5,106,209

6,814,523

11,920,732

NAC

87,436,438

74,637,030

162,073,468

NXJ

1,941,347

13,808,384

15,749,731

NRK

103,110,661

59,499,741

162,610,402

NNY

6,410,025

5,004,739

11,414,764

NAN

37,765,230

21,764,368

59,529,598

NQP

15,235,187

2,827,610

18,062,797

A

portion

of

NNY's

capital

loss

carryforwards

is

subject

to

an

annual

limitation

under

the

Internal

Revenue

Code

and

related

regulations.

Average

Daily

Managed

Assets\*

NAZ

NKX

NAC

NXJ

NRK

NAN

NQP

For

the

first

$125

million

0.4500 %

0.4500 %

0.4500 %

0.4500 %

0.4500 %

0.4500 %

0.4500 %

For

the

next

$125

million

0.4375 0.4375 0.4375 0.4375 0.4375 0.4375 0.4375 For

the

next

$250

million

0.4250 0.4250 0.4250 0.4250 0.4250 0.4250 0.4250 For

the

next

$500

million

0.4125 0.4125 0.4125 0.4125 0.4125 0.4125 0.4125 For

the

next

$1

billion

0.4000 0.4000 0.4000 0.4000 0.4000 0.4000 0.4000 For

the

next

$3

billion

0.3750 0.3750 0.3750 0.3750 0.3750 0.3750 0.3750 For

managed

assets

over

$5

billion

0.3625 0.3625 0.3625 0.3625 0.3625 0.3625 0.3625 Complex-Level

Asset

Breakpoint

Level\*

Complex-Level

Fee

For

the

first

$124.3

billion

0.1600 %

For

the

next

$75.7

billion

0.1350 For

the

next

$200

billion

0.1325 For

eligible

assets

over

$400

billion

0.1300 155

As

of

the

end

of

the

current

fiscal

period,

the

annual

complex-level

fee

for

each

Fund

was

as

follows:

Other

Transactions

with

Affiliates:

Each

Fund

is

permitted

to

purchase

or

sell

securities

from

or

to

certain

other

funds

or

accounts

managed

by

the

Sub-Adviser

or

by

an

affiliate

of

the

Adviser

(each

an

, "Affiliated

Entity")

under

specified

conditions

outlined

in

procedures

adopted

by

the

Board

("cross-trade").

These

procedures

have

been

designed

to

ensure

that

any

cross-trade

of

securities

by

the

Fund

from

or

to

an

Affiliated

Entity

by

virtue

of

having

a

common

investment

adviser

(or

affiliated

investment

adviser),

common

officer

and/or

common

trustee

complies

with

Rule

17a-7

under

the

1940

Act.

These

transactions

are

effected

at

the

current

market

price

(as

provided

by

an

independent

pricing

service)

without

incurring

broker

commissions.

During

the

current

fiscal

period,

the

Funds

engaged

in

cross-trades

pursuant

to

these

procedures

as

follows:

9. Commitments

and

Contingencies

In

the

normal

course

of

business,

each

Fund

enters

into

a

variety

of

agreements

that

may

expose

the

Fund

to

some

risk

of

loss.

These

could

include

recourse

arrangements

for

certain

TOB

Trusts

and

certain

agreements

related

to

preferred

shares,

which

are

described

elsewhere

in

these

Notes

to

Financial

Statements.

The

risk

of

future

loss

arising

from

such

agreements,

while

not

quantifiable,

is

expected

to

be

remote. As

of

the

end

of

the

current

fiscal

period,

the

Funds

did

not

have

any

unfunded

commitments

other

then

those

disclosed

in

the

Notes

to

Financial

Statements,

when

applicable.

From

time

to

time,

the

Funds

may

be

party

to

certain

legal

proceedings

in

the

ordinary

course

of

business,

including

proceedings

relating

to

the

enforcement

of

the

Funds'

rights

under

contracts.

As

of

the

end

of

the

current

fiscal

period,

management

has

determined

that

any

legal

proceeding(s)

the

Funds

are

subject

to,

including

those

described

within

this

report,

are

unlikely

to

have

a

material

impact

to

any

of

the

Funds'

financial

statements.

10. Borrowing

Arrangements

Line

of

Credit:

The

Funds,

along

with

certain

funds

managed

by

the

Adviser

or

by

an

affiliate

of

the

Adviser

("Participating

Funds"),

have

established

a

364-day,

$2.7

billion

standby

credit

facility

with

a

group

of

lenders,

under

which

the

Participating

Funds

may

borrow

for

temporary

purposes

(other

than

on-going

leveraging

for

investment

purposes).

Each

Participating

Fund

is

allocated

a

designated

proportion

of

the

facility's

capacity

(and

its

associated

costs,

as

described

below)

based

upon

a

multi-factor

assessment

of

the

likelihood

and

frequency

of

its

need

to

draw

on

the

facility,

the

size

of

the

Fund

and

its

anticipated

draws,

and

the

potential

importance

of

such

draws

to

the

operations

and

well-being

of

the

Fund,

relative

to

those

of

the

other

Funds.

A

Fund

may

effect

draws

on

the

facility

in

excess

of

its

designated

capacity

if

and

to

the

extent

that

other

Participating

Funds

have

undrawn

capacity.

The

credit

facility

expires

in

June

2026,

unless

extended

or

renewed.

The

credit

facility

has

the

following

terms:

0.15%

per

annum

on

unused

commitment

amounts

and

a

drawn

interest

rate

equal

to

the

higher

of

(a) OBFR

(Overnight

Bank

Funding

Rate)

plus

1.20%

per

annum

or

(b) the

Fed

Funds

Effective

Rate

plus

1.20%

per

annum

on

amounts

borrowed. Interest

expense

incurred

by

the

Participating

Funds,

when

applicable,

is

recognized

as

a

component

of

"Interest

expense

and

amortization

of

offering

costs"

on

the

Statement

of

Operations.

Participating

Funds

paid

administration,

legal

and

arrangement

fees,

which

are

recognized

as

a

component

of

"Interest

expense

and

amortization

of

offering

costs"

on

the

Statement

of

Operations,

and

along

with

commitment

fees,

have

been

allocated

among

such

Participating

Funds

based

upon

the

relative

proportions

of

the

facility's

aggregate

capacity

reserved

for

them

and

other

factors

deemed

relevant

by

the

Adviser

and

the

Board

of

each

Participating

Fund.

Fund

Complex-Level

Fee

NAZ

0.1555 %

NKX

0.1555 NCA

0.1555 NAC

0.1555 NXJ

0.1555 NRK

0.1555 NNY

0.1555 NAN

0.1555 NQP

0.1555 Fund

Purchases

Sales

Realized

Gain

(Loss)

NKX

$

—

$

8,601,840

$

34,845

NAC

8,601,840

—

—

NXJ

—

5,000,000

—

#### Notes

#### to

#### Financial

#### Statements
(continued)

During

the

current

fiscal

period,

the

following

Funds

utilized

this

facility.

The

Fund's

maximum

outstanding

balance

during

the

utilization

period

was

as

follows:

During

the

Fund's

utilization

period(s)

during

the

current

fiscal

period,

the

average

daily

balance

outstanding

and

average

annual

interest

rate

on

the

Borrowings

were

as

follows:

Borrowings

outstanding

as

of

the

end

of

the

current

fiscal

period,

if

any,

are

recognized

as

"Borrowings"

on

the

Statement

of

Assets

and

Liabilities,

where

applicable.

Inter-Fund Lending

Program:

The

SEC

has

granted

an

exemptive

order

permitting

registered

open-end

and

closed-end

Nuveen

funds

to

participate

in

an

inter-fund

lending

facility

whereby

the

Nuveen

funds

may

directly

lend

to

and

borrow

money

from

each

other

for

temporary

purposes

(e.g.,

to

satisfy

redemption

requests

or

when

a

sale

of

securities

"fails,"

resulting

in

an

unanticipated

cash

shortfall)

(the

"Inter-Fund

Program").

The

closed-end

Nuveen

funds,

including

the

Funds

covered

by

this

shareholder

report,

will

participate

only

as

lenders,

and

not

as

borrowers,

in

the

Inter-Fund

Program

because

such

closed-end

funds

rarely,

if

ever,

need

to

borrow

cash

to

meet

redemptions.

The

Inter-Fund

Program

is

subject

to

a

number

of

conditions,

including,

among

other

things,

the

requirements

that

(1) no

fund

may

borrow

or

lend

money

through

the

Inter-Fund

Program

unless

it

receives

a

more

favorable

interest

rate

than

is

typically

available

from

a

bank

or

other

financial

institution

for

a

comparable

transaction;

(2) no

fund

may

borrow

on

an

unsecured

basis

through

the

Inter-Fund

Program

unless

the

fund's

outstanding

borrowings

from

all

sources

immediately

after

the

inter-fund

borrowing

total

10%

or

less

of

its

total

assets;

provided

that

if

the

borrowing

fund

has

a

secured

borrowing

outstanding

from

any

other

lender,

including

but

not

limited

to

another

fund,

the

inter-fund

loan

must

be

secured

on

at

least

an

equal

priority

basis

with

at

least

an

equivalent

percentage

of

collateral

to

loan

value;

(3) if

a

fund's

total

outstanding

borrowings

immediately

after

an

inter-fund

borrowing

would

be

greater

than

10%

of

its

total

assets,

the

fund

may

borrow

through

the

inter-fund

loan

on

a

secured

basis

only;

(4) no

fund

may

lend

money

if

the

loan

would

cause

its

aggregate

outstanding

loans

through

the

Inter-Fund

Program

to

exceed

15%

of

its

net

assets

at

the

time

of

the

loan;

(5) a

fund's

inter-fund

loans

to

any

one

fund

shall

not

exceed

5%

of

the

lending

fund's

net

assets;

(6) the

duration

of

inter-

fund

loans

will

be

limited

to

the

time

required

to

receive

payment

for

securities

sold,

but

in

no

event

more

than

seven

days;

and

(7) each

inter-fund

loan

may

be

called

on

one

business

day's

notice

by

a

lending

fund

and

may

be

repaid

on

any

day

by

a

borrowing

fund.

In

addition,

a

Nuveen

fund

may

participate

in

the

Inter-Fund

Program

only

if

and

to

the

extent

that

such

participation

is

consistent

with

the

fund's

investment

objective

and

investment

policies.

The

Board

is

responsible

for

overseeing

the

Inter-Fund

Program.

The

limitations

detailed

above

and

the

other

conditions

of

the

SEC

exemptive

order

permitting

the

Inter-Fund

Program

are

designed

to

minimize

the

risks

associated

with

Inter-Fund

Program

for

both

the

lending

fund

and

the

borrowing

fund.

However,

no

borrowing

or

lending

activity

is

without

risk.

When

a

fund

borrows

money

from

another

fund,

there

is

a

risk

that

the

loan

could

be

called

on

one

day's

notice

or

not

renewed,

in

which

case

the

fund may

have

to

borrow

from

a

bank

at

a

higher

rate

or

take

other

actions

to

payoff

such

loan

if

an

inter-fund

loan

is

not

available

from

another

fund.

Any

delay

in

repayment

to

a

lending

fund

could

result

in

a

lost

investment

opportunity

or

additional

borrowing

costs.

During

the

current

fiscal

period,

none

of

the

Funds

covered

by

this

shareholder

report

have

entered

into

any

inter-fund

loan

activity.

Fund

Maximum

Outstanding

Balance

NAZ

$

2,700,000

NKX

21,400,000

NCA

—

NAC

15,898,480

NXJ

9,193,734

NRK

17,900,000

NNY

1,073,998

NAN

4,482,582

NQP

2,700,000

Fund

Utilization

Period

(Days

Outstanding)

Average

Daily

Balance

Outstanding

Average

Annual

Interest

Rate

NAZ

$

1,829,642

4.92 %

NKX

5,983,333

5.26 NCA

—

—

—

NAC

10,875,516

5.23 NXJ

5,223,433

4.84 NRK

9,821,962

5.11 NNY

1,073,998

4.84 NAN

858,344

5.05 NQP

1,866,667

5.29 157

11. Subsequent

Event

Fund

Mergers:

As

discussed

earlier

in

these

Notes

to

Financial

Statements,

the

mergers

of

NXJ,

NQP

and

Nuveen

Missouri

Quality

Municipal

Income

Fund

(NOM)

into

the

Nuveen

Municipal

High

Income

Opportunity

Fund

(NMZ)

were

completed

before

market

open

on

April

27,

2026. Variable

Rate

Demand

Preferred

Shares:

During

April

2026,

NXJ

redeemed

810

of

its

Series

VRDP

Shares

($81,000,000

liquidation

preference).

#### Shareholder

#### Meeting

#### Report
(Unaudited)

The

annual

meeting

of

shareholders

for

NAZ,

NKX,

and

NAC

was

held

on

December

18,

2025;

at

this

meeting

the

shareholders

were

asked

to

elect

Board

Members.

The

vote

totals

for

NAZ,

NKX,

and

NAC

are

set

forth

below:

NAZ

NKX

NAC

Common

and

Preferred

shares

voting

together

as

a

class

Preferred

shares

Common

and

Preferred

shares

voting

together

as

a

class

Preferred

shares

Common

and

Preferred

shares

voting

together

as

a

class

Preferred

shares

Approval

of

the

Board

Members

was

reached

as

follows:

Michael

A. Forrester

For

8,647,825

—

36,172,336

—

107,723,998

—

Withhold

401,413

—

1,806,465

—

2,735,753

—

Total

Voted

9,049,238

—

37,978,801

—

110,459,751

—

Thomas

J. Kenny

For

8,652,150

—

36,239,595

—

107,719,299

—

Withhold

397,088

—

1,739,206

—

2,740,452

—

Total

Voted

9,049,238

—

37,978,801

—

110,459,751

—

Robert

L. Young

For

8,652,150

—

36,136,242

—

107,771,182

—

Withhold

397,088

—

1,842,559

—

2,688,569

—

Total

Voted

9,049,238

—

37,978,801

—

110,459,751

—

Albin

F. Moschner

For

—

883

—

3,633

—

11,648

Withhold

—

—

—

—

—

Total

Voted

—

883

—

3,763

—

11,648

Margaret

L. Wolff

For

—

883

—

3,633

—

11,648

Withhold

—

—

—

—

—

Total

Voted

—

883

—

3,763

—

11,648

The

annual

meeting

of

shareholders

for

NCA

was

held

on

December

18,

2025;

at

this

meeting

the

shareholders

were

asked

to

elect

Board

Members.

The

vote

totals

for

NCA

are

set

forth

below:

NCA

Common

shares

Approval

of

the

Board

Members

was

reached

as

follows:

Michael

A. Forrester

For

26,033,462

Withhold

410,817

Total

Voted

26,444,279

Thomas

J. Kenny

For

25,925,374

Withhold

518,905

Total

Voted

26,444,279

Margaret

L. Wolff

For

26,028,272

Withhold

416,007

Total

Voted

26,444,279

Robert

L. Young

For

25,919,664

Withhold

524,615

Total

Voted

26,444,279

#### Shareholder

#### Meeting

#### Report
(continued)

The

annual

meeting

of

shareholders

was

held

on

January

16,

2026

for

NQP

and

NXJ.

At

this

meeting,

the

shareholders

were

asked

to

elect

Board

members

and

to

approve

an

Agreement

and

Plan

of

Merger.

The

meeting

for

NQP

and

NXJ

was

subsequently

adjourned

to

February

26,

2026

and

additionally

to

March

19,

2026

and

April

2,

2026

for

NXJ

in

order

to

seek

additional

shareholder

participation.

The

vote

totals

for

NQP

and

NXJ

are

set

forth

below:

NQP

NXJ

Common

and

Preferred

shares

voting

together

as

a

class

Preferred

shares

Common

and

Preferred

shares

voting

together

as

a

class

Preferred

shares

To

approve

an

Agreement

and

Plan

of

Merger:

For

20,258,678

2,175

20,675,148

3,139

Against

3,591,985

—

4,676,096

—

Abstain

674,689

—

727,653

—

Broker

Non-Votes

8,687,542

—

12,072,420

—

Total

Voted

33,212,894

2,175

38,151,317

3,139

Approval

of

the

Board

Members

was

reached

as

follows:

Michael

A. Forrester

For

28,419,543

—

31,896,325

—

Withhold

2,567,053

—

2,912,847

—

Total

Voted

30,986,596

—

34,809,172

—

Thomas

J. Kenny

For

28,459,730

—

31,887,453

—

Withhold

2,526,866

—

2,921,719

—

Total

Voted

30,986,596

—

34,809,172

—

Robert

L. Young

For

28,477,124

—

31,914,480

—

Withhold

2,509,472

—

2,894,692

—

Total

Voted

30,986,596

—

34,809,172

—

Albin

F. Moschner

For

—

2,175

—

3,139

Withhold

—

—

—

—

Total

Voted

—

2,175

—

3,139

Margaret

L. Wolff

For

—

2,175

—

3,139

Withhold

—

—

—

—

Total

Voted

—

2,175

—

3,139

#### Additional

#### Fund

#### Information
(Unaudited)

Portfolio

of

Investments

Information

The

Fund

is

required

to

file

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

report

on

Form

N-PORT.

You

may

obtain

this

information

on

the

SEC's

website

at

http://www.sec.gov.

Nuveen

Funds'

Proxy

Voting

Information

You

may

obtain

(i) information

regarding

how

each

fund

voted

proxies

relating

to

portfolio

securities

held

during

the

most

recent

twelve-month

period

ended

June

30,

without

charge,

upon

request,

by

calling

Nuveen

toll-free

at

(800) 257-8787

or

on

Nuveen's

website

at

www.nuveen.com

and

(ii) a

description

of

the

policies

and

procedures

that

each

fund

used

to

determine

how

to

vote

proxies

relating

to

portfolio

securities

without

charge,

upon

request,

by

calling

Nuveen

toll-free

at

(800) 257-8787.

You

may

also

obtain

this

information

directly

from

the

SEC.

Visit

the

SEC

on-line

at

http://www.sec.gov.

CEO

Certification

Disclosure

The

Fund's

Chief

Executive

Officer

(CEO)

has

submitted

to

the

New

York

Stock

Exchange

(NYSE)

the

annual

CEO

certification

as

required

by

Section

303A.12(a)

of

the

NYSE

Listed

Company

Manual.

Each

Fund

has

filed

with

the

SEC

the

certification

of

its

CEO

and

Chief

Financial

Officer

required

by

Section

of

the

Sarbanes-Oxley

Act.

Common

Share

Repurchases

Each

Fund

intends

to

repurchase,

through

its

open-market

share

repurchase

program,

shares

of

its

own

common

stock

at

such

times

and

in

such

amounts

as

is

deemed

advisable.

During

the

period

covered

by

this

report,

each

Fund

repurchased

shares

of

its

common

stock

as

shown

in

the

accompanying

table.

Any

future

repurchases

will

be

reported

to

shareholders

in

the

next

annual

or

semi-annual

report.

FINRA

BrokerCheck

:

The

Financial

Industry

Regulatory

Authority

(FINRA)

provides

information

regarding

the

disciplinary

history

of

FINRA

member

firms

and

associated

investment

professionals.

This

information

as

well

as

an

investor

brochure

describing

FINRA

BrokerCheck

is

available

to

the

public

by

calling

the

FINRA

BrokerCheck

Hotline

number

at

(800) 289-9999

or

by

visiting

www.FINRA.org.

Board

of

Trustees

Joseph

A. Boateng

Michael

A. Forrester

Thomas

J. Kenny

Amy

B.R.

Lancellotta

Joanne

T. Medero

Albin

F. Moschner

John

K. Nelson

Loren

M. Starr

Matthew

Thornton

III

Terence

J. Toth

Margaret

L. Wolff

Robert

L. Young

Investment

Adviser

Nuveen

Fund

Advisors,

LLC

West

Wacker

Drive

Chicago,

IL

60606

Custodian

State

Street

Bank

&

Trust

Company

One

Congress

Street

Suite

Boston,

MA

02114-2016

Legal

Counsel

Chapman

and

Cutler

LLP

Chicago,

IL

60606

Independent

Registered

Public

Accounting

Firm

PricewaterhouseCoopers

LLP

One

North

Wacker

Drive

Chicago,

IL

60606

Transfer

Agent

and

Shareholder

Services

Computershare

Trust

Company,

N.A.

Royall

Street

Canton,

MA

02021

(800) 257-8787

NAZ

NKX

NCA

NAC

NXJ

Common

Shares

Repurchased

NRK

NNY

NAN

NQP

Common

Shares

Repurchased

#### Glossary

#### of

#### Terms

#### Used

#### in

#### this

#### Report

#### (U

#### naudited)
Average

Annual

Total

Return:

This

is

a

commonly

used

method

to

express

an

investment's

performance

over

a

particular,

usually

multi-year

time

period.

It

expresses

the

return

that

would

have

been

necessary

each

year

to

equal

the

investment's

actual

cumulative

performance

(including

change

in

NAV

or

offer

price

and

reinvested

dividends

and

capital

gains

distributions,

if

any)

over

the

time

period

being

considered.

Effective

Leverage:

Effective

leverage

is

a

fund's

effective

economic

leverage,

and

includes

both

regulatory

leverage

(see

leverage)

and

the

leverage

effects

of

certain

derivative

investments

in

the

fund's

portfolio.

Currently,

the

leverage

effects

of

Tender

Option

Bond

(TOB)

inverse

floater

holdings

are

included

in

effective

leverage

values,

in

addition

to

any

regulatory

leverage.

Inverse

Floating

Rate

Securities:

Inverse

floating

rate

securities,

are

the

residual

interest

in

a

tender

option

bond

(TOB)

trust,

sometimes

referred

to

as

"inverse

floaters",

are

created

by

depositing

a

municipal

bond,

typically

with

a

fixed

interest

rate,

into

a

special

purpose

trust.

This

trust,

in

turn,

(a) issues

floating

rate

certificates

typically

paying

short-term

tax-exempt

interest

rates

to

third

parties

in

amounts

equal

to

some

fraction

of

the

deposited

bond's

par

amount

or

market

value,

and

(b) issues

an

inverse

floating

rate

certificate

(sometimes

referred

to

as

an

"inverse

floater")

to

an

investor

(such

as

a

Fund)

interested

in

gaining

investment

exposure

to

a

long-term

municipal

bond.

The

income

received

by

the

holder

of

the

inverse

floater

varies

inversely

with

the

short-term

rate

paid

to

the

floating

rate

certificates'

holders,

and

in

most

circumstances

the

holder

of

the

inverse

floater

bears

substantially

all

of

the

underlying

bond's

downside

investment

risk.

The

holder

of

the

inverse

floater

typically

also

benefits

disproportionately

from

any

potential

appreciation

of

the

underlying

bond's

value.

Hence,

an

inverse

floater

essentially

represents

an

investment

in

the

underlying

bond

on

a

leveraged

basis.

Leverage:

Leverage

is

created

whenever

a

fund

has

investment

exposure

(both

reward

and/or

risk)

equivalent

to

more

than

100%

of

the

investment

capital.

Net

Asset

Value

(NAV)

Per

Share:

A

fund's

Net

Assets

is

equal

to

its

total

assets

(securities,

cash,

accrued

earnings

and

receivables)

less

its

total

liabilities.

NAV

per

share

is

equal

to

the

fund's

Net

Assets

divided

by

its

number

of

shares

outstanding.

Pre-Refunded

Bond/Pre-Refunding:

Pre-Refunded

Bond/Pre-Refunding,

also

known

as

advanced

refundings

or

refinancings,

is

a

procedure

used

by

state

and

local

governments

to

refinance

municipal

bonds

to

lower

interest

expenses.

The

issuer

sells

new

bonds

with

a

lower

yield

and

uses

the

proceeds

to

buy

U.S.

Treasury

securities,

the

interest

from

which

is

used

to

make

payments

on

the

higher-yielding

bonds.

Because

of

this

collateral,

pre-refunding

generally

raises

a

bond's

credit

rating

and

thus

its

value.

Regulatory

Leverage:

Regulatory

leverage

consists

of

preferred

shares

issued

by

or

borrowings

of

a

fund.

Both

of

these

are

part

of

a

fund's

capital

structure.

Regulatory

leverage

is

subject

to

asset

coverage

limits

set

in

the

Investment

Company

Act

of

1940. Tax

Obligation/General

Bonds

:

Bonds

backed

by

the

general

revenues

of

an

issuer,

including

taxes,

where

the

issuer

has

the

ability

to

increase

taxes

by

an

unlimited

amount

to

pay

the

bonds

back.

Tax

Obligation/Limited

Bonds:

Bonds

backed

by

the

general

revenues

of

an

issuer,

including

taxes,

where

the

issuer

doesn't

have

the

ability

to

increase

taxes

by

an

unlimited

amount

to

pay

the

bonds

back

.

Total

Investment

Exposure:

Total

investment

exposure

is

a

fund's

assets

managed

by

the

Adviser

that

are

attributable

to

financial

leverage.

For

these

purposes,

financial

leverage

includes

a

fund's

use

of

preferred

stock

and

borrowings

and

investments

in

the

residual

interest

certificates

(also

called

inverse

floating

rate

securities)

in

tender

option

bond

(TOB)

trusts,

including

the

portion

of

assets

held

by

a

TOB

trust

that

has

been

effectively

financed

by

the

trust's

issuance

of

floating

rate

securities.

Nuveen

Securities,

LLC,

member

FINRA

and

SIPC

West

Wacker

Drive

Chicago,

IL

60606

www.nuveen.com

ESA-A-0226P

5278237

Nuveen:

Serving

Investors

for

Generations

Since

1898,

financial

advisors

and

their

clients

have

relied

on

Nuveen

to

provide

dependable

investment

solutions

through

continued

adherence

to

proven,

long-term

investing

principles.

Today,

we

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a

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quality

solutions

designed

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investor

needs.

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TIAA.

We

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the

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managers,

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the

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services

of

Nuveen

may

be

able

to

help

you

meet

your

financial

goals,

talk

to

your

financial

advisor,

or

call

us

at

(800) 257-8787.

Please

read

the

information

provided

carefully

before

you

invest.

Investors

should

consider

the

investment

objective

and

policies,

risk

considerations,

charges

and

expenses

of

any

investment

carefully.

Where

applicable,

be

sure

to

obtain

a

prospectus,

which

contains

this

and

other

relevant

information.

To

obtain

a

prospectus,

please

contact

your

securities

representative

or

Nuveen,

W. Wacker

Dr.,

Chicago,

IL

60606. Please

read

the

prospectus

carefully

before

you

invest

or

send

money.

Learn

more

about

Nuveen

Funds

at:

#### www.nuveen.com/closed-end-funds
NOT

FDIC

INSURED

MAY

LOSE

VALUE

NO

BANK

GUARANTEE

------

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

Not applicable to this filing.

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

Not applicable to this filing.

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

Not applicable to this filing.

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

Not applicable to this filing.

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

(a) Schedule of Investments is included as part of the Portfolio of Investments filed under Item 1 of this Form N-CSR.

(b) Not applicable.

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

Not applicable to closed-end investment companies.

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

Not applicable to closed-end investment companies.

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**Item 9.** **Proxy Disclosures for Open-End Management Investment Companies.** <br>

Not applicable to closed-end investment companies.

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

Not applicable to closed-end investment companies.

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**Item 11.** **Statement Regarding Basis for Approval of Investment Advisory Contract.** <br>

Not applicable.

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

Not applicable to this filing.

------

**Item 13.** **Portfolio Managers of Closed-End Management Investment Companies.** <br>

Not applicable to this filing.

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**Item 14.** **Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.** <br>

Not applicable.

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**Item 15.** **Submission of Matters to a Vote of Security Holders.** <br>

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's Board implemented after the registrant last provided disclosure in response to this Item.

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**Item 16.** **Controls and Procedures.** <br>

(a) The registrant's principal executive and principal financial officers, or persons performing similar
functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required
by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act") (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the registrant's internal control over financial reporting (as defined in
Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to
materially affect, the registrant's internal control over financial reporting.

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

Not applicable.

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**Item 18.** **Recovery of Erroneously Awarded Compensation.** <br>

(a) Not applicable.

(b) Not applicable.

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**Item 19.** **Exhibits.** <br>

(a)(1) Not applicable to this filing.

(a)(2) Not applicable to this filing.

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| | |
|:---|:---|
| [(a)(3)](d105187dex99cert.htm) | [Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.](d105187dex99cert.htm)  |

---

(a)(4) Not applicable.

(a)(5) Not applicable.

[(b)](d105187dex99906cert.htm) [Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002 is attached hereto.](d105187dex99906cert.htm) 

------

**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

<u>Nuveen New Jersey Quality Municipal Income Fund</u> 

---

| | | |
|:---|:---|:---|
|  Date: May 7, 2026 | By: | <u>/s/ David J. Lamb</u>  |
|  |  | David J. Lamb <br>|
|  |  | Chief Administrative Officer |

---

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
|  Date: May 7, 2026 | By: | <u>/s/ David J. Lamb</u>  |
|  |  | David J. Lamb <br>|
|  |  | Chief Administrative Officer <br>|
|  |  | (principal executive officer) |
|  Date: May 7, 2026 | By: | <u>/s/ Marc Cardella</u>  |
|  |  | Marc Cardella <br>|
|  |  | Vice President and Controller <br>|
|  |  | (principal financial officer) |

---

## Ex-99.Cert

**Exhibit 19(a)(3)** 

**<u>CERTIFICATION</u>**

I, David J. Lamb, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen New Jersey Quality
Municipal Income Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

------

---

| | | |
|:---|:---|:---|
| Date: May 7, 2026 | By: | <u>/s/ David J. Lamb</u>  |
|  |  | David J. Lamb |
|  |  | Chief Administrative Officer |
|  |  | (principal executive officer) |

---

------

**<u>CERTIFICATION</u>**

I, Marc Cardella, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen New Jersey Quality
Municipal Income Fund;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

------

---

| | | |
|:---|:---|:---|
| Date: May 7, 2026 | By: | <u>/s/ Marc Cardella</u>  |
|  |  | Marc Cardella |
|  |  | Vice President and Controller |
|  |  | (principal financial officer) |

---

## Exhibit 99.906

**Exhibit 19(b)** 

**<u>CERTIFICATION</u>**

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

**(Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code)** 

In connection with the semi-annual report of the Nuveen New Jersey Quality Municipal Income Fund (the "Fund") on Form N-CSR for the period ended February 28, 2026, as filed with the Securities and Exchange Commission (the "Report"), the undersigned officers of the Fund certify that, to the best of each such officer's knowledge:

&nbsp;&nbsp;&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;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and
results of operations of the Fund.

---

| | | |
|:---|:---|:---|
| Date: May 7, 2026 | By: | <u>/s/ David J. Lamb</u> |
|  |  | David J. Lamb  |
|  |  | Chief Administrative Officer  |
|  |  | (principal executive officer) |
| Date: May 7, 2026 | By: | <u>/s/ Marc Cardella</u> |
|  |  | Marc Cardella  |
|  |  | Vice President and Controller  |
|  |  | (principal financial officer) |

---