# EDGAR Filing Document

**Accession Number:** 0000820892
**File Stem:** 0001193125-25-135984
**Filing Date:** 2025-6
**Character Count:** 861262
**Document Hash:** 4f6cc3c2af62892897998ed23a197372
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-135984.hdr.sgml**: 20250605

**ACCESSION NUMBER**: 0001193125-25-135984

**CONFORMED SUBMISSION TYPE**: N-CSR

**PUBLIC DOCUMENT COUNT**: 26

**CONFORMED PERIOD OF REPORT**: 20250331

**FILED AS OF DATE**: 20250605

**DATE AS OF CHANGE**: 20250605

**EFFECTIVENESS DATE**: 20250605

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** N-CSR
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05309
- **FILM NUMBER:** 251028172

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

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

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

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

## Series and Classes Contracts Data

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

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

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

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

### FORM N-CSR

### CERTIFIED SHAREHOLDER REPORT OF REGISTERED

### MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number <u> 811-05309 </u>

Nuveen Investment Funds, Inc.

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive

Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Mark J. Czarniecki

Vice President and Secretary

901 Marquette Avenue

Minneapolis, Minnesota 55402

(Name and address of agent for service)

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

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

Date of reporting period: <u>March 31, 2025</u>

------

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

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| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g923385g1g19w55.jpg) | <br> Annual Shareholder Report <br>March 31, 2025  |

---

Nuveen Short Term Municipal Bond Fund

Class A Shares/FSHAX

Annual Shareholder Report

This annual shareholder report contains important information about the Class A Shares of the Nuveen Short Term Municipal Bond Fund for the period of April 1, 2024 to March 31, 2025. You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787.

#### This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class A Shares | $64 | 0.63% |

---

\* Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund's performance?

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Performance Highlights**<br>• The Nuveen Short Term Municipal Bond Fund returned 3.28% for Class A Shares at net asset value (NAV) for the 12 months ended March 31, 2025. The Fund underperformed the S&P Municipal Bond Short Index, which returned 3.57%.<br>• Top contributors to relative performance<br>» Credit quality positioning, especially an overweight to the A-rated, BBB-rated and non-rated bonds.<br>» Sector allocation, particularly an underweight to tax-supported bonds and overweight to health care and transportation bonds.<br>» Security selection in the transportation, utilities, education and tax-supported sectors.<br>• Top detractors from relative performance<br>» Duration and yield curve positioning, particularly an overweight to longer-duration bonds.<br>» An underweight to the industrial development revenue bond sector.<br>» Security selection in the housing, industrial development revenue and health care bond sectors.<br>

1 continued>>

------

How did the Fund perform over the last 10 years?

**Performance data shown represents past performance and does not predict or guarantee future results.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

**Fund Performance** (April 1, 2015 through March 31, 2025) **Initial Investment of $10,000**

![LOGO](g923385g1g82n42.jpg)

#### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
|  | **1-Year** | **5-Year** | **10-Year** |
| &nbsp;&nbsp;&nbsp; Class A Shares at NAV (excluding maximum sales charge) | 3.28% | 1.28% | 1.12% |
| &nbsp;&nbsp;&nbsp; Class A Shares at maximum sales charge (Offering Price) | 0.71% | 0.76% | 0.87% |
| &nbsp;&nbsp;&nbsp; S&P Municipal Bond Index | 1.76% | 1.26% | 2.22% |
| &nbsp;&nbsp;&nbsp; S&P Municipal Bond Short Index | 3.57% | 1.55% | 1.46% |
| &nbsp;&nbsp;&nbsp; Lipper Short Municipal Debt Funds Classification Average | 3.33% | 1.49% | 1.17% |

---

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257-8787.

2 continued>>

------

Fund Statistics (as of March 31, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $412469166 |
|  Total number of portfolio holdings | 298 |
|  Portfolio turnover (%) | 29% |
|  Total management fees paid for the year | $1700078 |

---

What did the Fund invest in? (as of March 31, 2025)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g923385g1g50w67.jpg)

![LOGO](g923385g1g18b61.jpg)

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

How has the Fund changed?

• **Management fees:** As of May 1, 2024, the Fund's overall complex-level fee begins at a maximum rate of 0.1600% of the Fund's average daily net assets, with breakpoints for eligible complex-level assets above $124.3 billion.

**For more complete information, you may review the Fund's next prospectus, which is expected to be available by July 31, 2025 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.** 

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 670690593_AR_0325<br> 4395280 | ![LOGO](g923385g1g85u20.jpg) |

---

3.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g923385g1g19w55.jpg) | <br>Annual Shareholder Report <br>March 31, 2025  |

---

Nuveen Short Term Municipal Bond Fund

Class C Shares/NAAEX

Annual Shareholder Report

This annual shareholder report contains important information about the Class C Shares of the Nuveen Short Term Municipal Bond Fund for the period of April 1, 2024 to March 31, 2025. You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses**.** You can also request this information by contacting us at (800) 257-8787.

#### This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of**<br> **$10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class C Shares | $145 | 1.43% |

---

\* Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund's performance?

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Performance Highlights**<br>• The Nuveen Short Term Municipal Bond Fund returned 2.45% for Class C Shares at net asset value (NAV) for the 12 months ended March 31, 2025. The Fund underperformed the S&P Municipal Bond Short Index, which returned 3.57%.<br>• Top contributors to relative performance<br>» Credit quality positioning, especially an overweight to the A-rated, BBB-rated and non-rated bonds.<br>» Sector allocation, particularly an underweight to tax-supported bonds and overweight to health care and transportation bonds.<br>» Security selection in the transportation, utilities, education and tax-supported sectors.<br>• Top detractors from relative performance<br>» Duration and yield curve positioning, particularly an overweight to longer-duration bonds.<br>» An underweight to the industrial development revenue bond sector.<br>» Security selection in the housing, industrial development revenue and health care bond sectors.<br>

1 continued>>

------

How did the Fund perform over the last 10 years?

**Performance data shown represents past performance and does not predict or guarantee future results.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

**Fund Performance** (April 1, 2015 through March 31, 2025) **Initial Investment of $10,000**

![LOGO](g923385g1g05x13.jpg)

#### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
|  | **1-Year** | **5-Year** | **10-Year** |
| &nbsp;&nbsp;&nbsp; Class C Shares at NAV (excluding maximum sales charge) | 2.45% | 0.47% | 0.50% |
| &nbsp;&nbsp;&nbsp; S&P Municipal Bond Index | 1.76% | 1.26% | 2.22% |
| &nbsp;&nbsp;&nbsp; S&P Municipal Bond Short Index | 3.57% | 1.55% | 1.46% |
| &nbsp;&nbsp;&nbsp; Lipper Short Municipal Debt Funds Classification Average | 3.33% | 1.49% | 1.17% |

---

Class C Shares are subject to a contingent deferred sales charge if redeemed within 12 months of purchase, which will be reflected in total returns presented for less than one year.

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257-8787.

2 continued>>

------

Fund Statistics (as of March 31, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $412469166 |
|  Total number of portfolio holdings | 298 |
|  Portfolio turnover (%) | 29% |
|  Total management fees paid for the year | $1700078 |

---

What did the Fund invest in? (as of March 31, 2025)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g923385g1g10b48.jpg)

![LOGO](g923385g1g52y45.jpg)

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

How has the Fund changed?

• **Management fees:** As of May 1, 2024, the Fund's overall complex-level fee begins at a maximum rate of 0.1600% of the Fund's average daily net assets, with breakpoints for eligible complex-level assets above $124.3 billion.

**For more complete information, you may review the Fund's next prospectus, which is expected to be available by July 31, 2025 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.**

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 670693506_AR_0325<br> 4395280 | ![LOGO](g923385g1g85u20.jpg) |

---

3.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g923385g1g19w55.jpg) | <br>Annual Shareholder Report <br>March 31, 2025  |

---

Nuveen Short Term Municipal Bond Fund

Class I Shares/FSHYX

Annual Shareholder Report

This annual shareholder report contains important information about the Class I Shares of the Nuveen Short Term Municipal Bond Fund for the period of April 1, 2024 to March 31, 2025. You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses**.** You can also request this information by contacting us at (800) 257-8787.

#### This report describes changes to the Fund that occurred during the reporting period.
What were the Fund costs for the last year? (based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of**<br> **$10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class I Shares | $44 | 0.43% |

---

\* Annualized for period less than one year.

How did the Fund perform last year? What affected the Fund's performance?

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Performance Highlights**<br>• The Nuveen Short Term Municipal Bond Fund returned 3.48% for Class I Shares at net asset value (NAV) for the 12 months ended March 31, 2025. The Fund performed in line with the S&P Municipal Bond Short Index, which returned 3.57%.<br>• Top contributors to relative performance<br>» Credit quality positioning, especially an overweight to the A-rated, BBB-rated and non-rated bonds.<br>» Sector allocation, particularly an underweight to tax-supported bonds and overweight to health care and transportation bonds.<br>» Security selection in the transportation, utilities, education and tax-supported sectors.<br>• Top detractors from relative performance<br>» Duration and yield curve positioning, particularly an overweight to longer-duration bonds.<br>» An underweight to the industrial development revenue bond sector.<br>» Security selection in the housing, industrial development revenue and health care bond sectors.<br>

1 continued>>

------

How did the Fund perform over the last 10 years?

**Performance data shown represents past performance and does not predict or guarantee future results.** The graph and table do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund Shares.

**Fund Performance** (April 1, 2015 through March 31, 2025) **Initial Investment of $10,000**

![LOGO](g923385g1g88w59.jpg)

#### Average Annual Total Returns

---

| | | | |
|:---|:---|:---|:---|
|  | **1-Year** | **5-Year** | **10-Year** |
| &nbsp;&nbsp;&nbsp; Class I Shares at NAV | 3.48% | 1.47% | 1.31% |
| &nbsp;&nbsp;&nbsp; S&P Municipal Bond Index | 1.76% | 1.26% | 2.22% |
| &nbsp;&nbsp;&nbsp; S&P Municipal Bond Short Index | 3.57% | 1.55% | 1.46% |
| &nbsp;&nbsp;&nbsp; Lipper Short Municipal Debt Funds Classification Average | 3.33% | 1.49% | 1.17% |

---

Investment return and principal value will fluctuate, and you may have a gain or loss when you sell your shares. Current performance may differ from figures shown. For most recent month-end performance, go to https://www.nuveen.com/en-us/mutual-funds/prospectuses or call (800) 257-8787.

2 continued>>

------

Fund Statistics (as of March 31, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $412469166 |
|  Total number of portfolio holdings | 298 |
|  Portfolio turnover (%) | 29% |
|  Total management fees paid for the year | $1700078 |

---

What did the Fund invest in? (as of March 31, 2025)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g923385g1g63f43.jpg)

![LOGO](g923385g1g92b85.jpg)

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

How has the Fund changed?

• **Management fees:** As of May 1, 2024, the Fund's overall complex-level fee begins at a maximum rate of 0.1600% of the Fund's average daily net assets, with breakpoints for eligible complex-level assets above $124.3 billion.

**For more complete information, you may review the Fund's next prospectus, which is expected to be available by July 31, 2025 at https://www.nuveen.com/en-us/mutual-funds/prospectuses or upon request at (800) 257-8787.**

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 670690486_AR_0325<br> 4395280 | ![LOGO](g923385g1g85u20.jpg) |

---

3.0 ------

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

As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. There were no amendments to or waivers from the code during the period covered by this report. Upon request, a copy of the registrant's code of ethics is available without charge by calling 800-257-8787.

------

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

As of the end of the period covered by this report, the registrant's Board of Directors or Trustees ("Board") had determined that the registrant has at least one "audit committee financial expert" (as defined in Item 3 of Form N-CSR) serving on its Audit Committee. The members of the registrant's audit committee that have been designated as audit committee financial experts are Joseph A. Boateng, John K. Nelson, Loren M. Starr and Robert L. Young, who are "independent" for purposes of Item 3 of Form N-CSR.

Mr. Boateng has served as the Chief Investment Officer for Casey Family Programs since 2007. He was previously Director of U.S. Pension Plans for Johnson & Johnson from 2002-2006. Mr. Boateng is a board member of the Lumina Foundation and Waterside School, an emeritus board member of Year Up Puget Sound, member of the Investment Advisory Committee and former Chair for the Seattle City Employees' Retirement System, and an Investment Committee Member for The Seattle Foundation. Mr. Boateng previously served on the Board of Trustees for the College Retirement Equities Fund (2018-2023) and on the Management Committee for TIAA Separate Account VA-1 (2019-2023).

Mr. Nelson formerly served on the Board of Directors of Core12, LLC from 2008 to 2023, a private firm which develops branding, marketing, and communications strategies for clients. Mr. Nelson has extensive experience in global banking and markets, having served in several senior executive positions with ABN AMRO Holdings N.V. and its affiliated entities and predecessors, including LaSalle Bank Corporation from 1996 to 2008, ultimately serving as Chief Executive Officer of ABN AMRO N.V. North America. During his tenure at the bank, he also served as Global Head of its Financial Markets Division, which encompassed the bank's Currency, Commodity, Fixed Income, Emerging Markets, and Derivatives businesses. He was a member of the Foreign Exchange Committee of the Federal Reserve Bank of the United States and during his tenure with ABN AMRO served as the bank's representative on various committees of The Bank of Canada, European Central Bank, and The Bank of England. Mr. Nelson previously served as a senior, external advisor to the financial services practice of Deloitte Consulting LLP. (2012-2014).

Mr. Starr was Vice Chair, Senior Managing Director from 2020 to 2021, and Chief Financial Officer, Senior Managing Director from 2005 to 2020, for Invesco Ltd. Mr. Starr is also a Director and Chair of the Audit Committee for AMG. He is former Chair and member of the Board of Directors, Georgia Leadership Institute for School Improvement (GLISI); former Chair and member of the Board of Trustees, Georgia Council on Economic Education (GCEE). Mr. Starr previously served on the Board of Trustees for the College Retirement Equities Fund and on the Management Committee for TIAA Separate Account VA-1 (2022-2023).

Mr. Young has more than 30 years of experience in the investment management industry. From 1997 to 2017, he held various positions with J.P. Morgan Investment Management Inc. ("J.P. Morgan Investment") and its affiliates (collectively, "J.P. Morgan"). Most recently, he served as Chief Operating Officer and Director of J.P. Morgan Investment (from 2010 to 2016) and as President and Principal Executive Officer of the J.P. Morgan Funds (from 2013 to 2016). As Chief Operating Officer of J.P. Morgan Investment, Mr. Young led service, administration and business platform support activities for J.P. Morgan's domestic retail mutual fund and institutional commingled and separate account businesses and co-led these activities for J.P. Morgan's global retail and institutional investment management businesses. As President of the J.P. Morgan Funds, Mr. Young interacted with various service providers to these funds, facilitated the relationship between such funds and their boards, and was directly involved in establishing board agendas, addressing regulatory matters, and establishing policies and procedures. Before joining J.P. Morgan, Mr. Young, a former Certified Public Accountant (CPA), was a Senior Manager (Audit) with Deloitte & Touche LLP (formerly, Touche Ross LLP), where he was employed from 1985 to 1996. During his tenure there, he actively participated in creating, and ultimately led, the firm's midwestern mutual fund practice.

------

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

Nuveen Investment Funds, Inc.

The following tables show the amount of fees that PricewaterhouseCoopers LLP ("PwC"), the auditor, billed to the Registrant during the Registrant's last two full fiscal years. The Audit Committee approved in advance all audit services and non-audit services that PwC provided to the Registrant, except for those non-audit services that were subject to the pre-approval exception under Rule 2-01 of Regulation S-X (the "pre-approval exception"). The pre-approval exception for services provided directly to the Registrant waives the pre-approval requirement for services other than audit, review or attest services if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Registrant during the fiscal year in which the services are provided; (B) the Registrant did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee's attention, and the Committee (or its delegate) approves the services before the audit is completed.

The Audit Committee has delegated certain pre-approval responsibilities to its Chair (or, in the Chair's absence, any other member of the Audit Committee).

SERVICES THAT THE REGISTRANT'S AUDITOR BILLED TO THE REGISTRANT

---

| | | | | |
|:---|:---|:---|:---|:---|
|  **Fiscal Year Ended** | **Audit Fees<br>Billed to Registrant<sup>1</sup>** | **Audit-Related Fees<br>Billed to Registrant<sup>2</sup>** | **Tax Fees<br>Billed to Registrant<sup>3</sup>** | **All Other Fees<br>Billed to Registrant<sup>4</sup>** |
|  March 31, 2025 | $31789 | $0 | $0 | $0 |
| Percentage approved pursuant to pre-approval exception | 0% | 0% | 0% | 0% |
| March 31, 2024 | $32259 | $0 | $0 | $0 |
| Percentage approved pursuant to pre-approval exception | 0% | 0% | 0% | 0% |

---

1 "Audit Fees" are the aggregate fees billed for professional services for the audit of the Registrant's annual financial statements and services provided in connection with statutory and regulatory filings or engagements.

2 "Audit-Related Fees" are the aggregate fees billed for assurance and related services reasonably related to the performance of the audit or review of financial statements that are not reported under "Audit Fees". These fees include offerings related to the Registrant's common shares and leverage.

---

| | |
|:---|:---|
| 3 | "Tax Fees" are the aggregate fees billed for professional services for tax advice, tax compliance, and tax planning. These fees include: all global withholding tax services; excise and state tax reviews; capital gain, tax equalization and taxable basis calculations performed by the independent registered public accounting firm.  |

---

4 "All Other Fees" are the aggregate fees billed for products and services other than "Audit Fees", "Audit-Related Fees" and "Tax Fees". These fees represent all "Agreed-Upon Procedures" engagements pertaining to the Registrant's use of leverage.

SERVICES THAT THE REGISTRANT'S AUDITOR BILLED TO THE

ADVISER AND AFFILIATED REGISTRANT SERVICE PROVIDERS

The following tables show the amount of fees billed by PwC to Nuveen Fund Advisors, LLC (the "Adviser"), and any entity controlling, controlled by or under common control with the Adviser that provides ongoing services to the Registrant ("Affiliated Fund Service Provider"), for engagements directly related to the Registrant's operations and financial reporting, during the Registrant's last two full fiscal years.

The tables also show the percentage of fees subject to the pre-approval exception. The pre-approval exception for services provided to the Adviser and any Affiliated Fund Service Provider (other than audit, review or attest services) waives the pre-approval requirement if: (A) the aggregate amount of all such services provided constitutes no more than 5% of the total amount of revenues paid by the Registrant, the Adviser and Affiliated Fund Service Providers during the fiscal year in which the services are provided that would have to be pre-

------

approved by the Audit Committee; (B) the Registrant did not recognize the services as non-audit services at the time of the engagement; and (C) the services are promptly brought to the Audit Committee's attention, and the Committee (or its delegate) approves the services before the Registrant's audit is completed.

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| | | | |
|:---|:---|:---|:---|
|  **Fiscal Year Ended** | **Audit-Related Fees<br>Billed to Adviser<br>and Affiliated Fund<br>Service Providers** | **Tax Fees<br>Billed to Adviser<br>and Affiliated Fund<br>Service Providers** | **All Other Fees<br>Billed to Adviser<br>and Affiliated Fund<br>Service Providers** |
|  March 31, 2025 | $0 | $0 | $0 |
|  Percentage approved pursuant to pre-approval exception | 0% | 0% | 0% |
|  March 31, 2024 | $0 | $0 | $0 |
|  Percentage approved pursuant to pre-approval exception | 0% | 0% | 0% |

---

NON-AUDIT SERVICES

The following table shows the amount of fees that PwC billed during the Registrant's last two full fiscal years for non-audit services. The Audit Committee is required to pre-approve non-audit services that the Registrant's independent registered public accounting firm provides to the Adviser and any Affiliated Fund Services Provider, if the engagement related directly to the Registrant's operations and financial reporting (except for those subject to the pre-approval exception described above). The Audit Committee requested and received information from PwC about any non-audit services rendered during the Registrant's last fiscal year to the Adviser and any Affiliated Fund Service Provider. The Committee considered this information in evaluating PwC's independence.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fiscal Year Ended** | **Total Non-Audit Fees** <br> **Billed to Registrant** | **Total Non-Audit Fees**<br> **Billed to Adviser and**<br> **Affiliated Fund Service**<br> **Providers (engagements**<br> **related directly to the**<br> **operations and financial**<br> **reporting of the**<br> **Registrant)** | **Total Non-Audit Fees**<br> **Billed to Adviser and**<br> **Affiliated Fund Service**<br> **Providers (all other**<br> **engagements)** | **Total** |
|  March 31, 2025 | $0 | $0 | $0 | $0 |
|  March 31, 2024 | $0 | $0 | $0 | $0 |

---

"Non-Audit Fees billed to Registrant" for both fiscal year ends represent "Tax Fees" and "All Other Fees" billed to the Registrant in their respective amounts from the previous table.

Less than 50 percent of the hours expended on the independent registered public accounting firm's engagement to audit the Registrant's financial statements for the most recent fiscal year were attributed to work performed by persons other than the independent registered public accounting firm's full-time, permanent employees.

Audit Committee Pre-Approval Policies and Procedures. Generally, the Audit Committee must approve (i) all non-audit services to be performed for the Registrant by the Registrant's independent registered public accounting firm and (ii) all audit and non-audit services to be performed by the Registrant's independent registered public accounting firm for the Affiliated Fund Service Providers with respect to the operations and financial reporting of the Registrant. Regarding tax and research projects conducted by the independent registered public accounting firm for the Registrant and Affiliated Fund Service Providers (with respect to operations and financial reports of the Registrant) such engagements will be (i) pre-approved by the Audit Committee if they are expected to be for amounts greater than $10,000; (ii) reported to the Audit Committee Chair for verbal approval prior to engagement if they are expected to be for amounts under $10,000 but greater than $5,000; and (iii) reported to the Audit Committee at the next Audit Committee meeting if they are expected to be for an amount under $5,000.

------

Item 4(i) and Item 4(j) are not applicable to the Registrant.

------

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

Not applicable to this registrant.

------

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

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

(b) Not applicable.

------

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

------

## Report of Independent Registered Public Accounting Firm
**To the Board of Trustees of Nuveen Municipal Trust and Board of Directors of Nuveen Investment Funds, Inc. and Shareholders of Nuveen All-American Municipal Bond Fund, Nuveen Intermediate Duration Municipal Bond Fund, Nuveen Limited Term Municipal Bond Fund and Nuveen Short Term Municipal Bond Fund** 

*Opinions on the Financial Statements*

We have audited the accompanying statements of assets and liabilities, including the portfolios of investments, of Nuveen All-American Municipal Bond Fund, Nuveen Intermediate Duration Municipal Bond Fund and Nuveen Limited Term Municipal Bond Fund (three of the funds constituting Nuveen Municipal Trust) and Nuveen Short Term Municipal Bond Fund (one of the funds constituting Nuveen Investment Funds, Inc.) (hereafter collectively referred to as the "Funds") as of March 31, 2025, the related statements of operations for the year ended March 31, 2025, the statements of changes in net assets for each of the two years in the period ended March 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended March 31, 2025 (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of March 31, 2025, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period ended March 31, 2025 and each of the financial highlights for each of the five years in the period ended March 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

*Basis for Opinions*

These financial statements are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of March 31, 2025 by correspondence with the custodian, agent banks and brokers; when replies were not received from agent banks or brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.

/s/ PricewaterhouseCoopers LLP

Chicago, Illinois

May 28, 2025

We have served as the auditor of one or more investment companies in Nuveen Funds since 2002.

------

Portfolio of Investments March 31, 2025

All-American

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SHARES** | **DESCRIPTION** | | | **VALUE** |
|  | **LONG-TERM INVESTMENTS - 100.3%** |  |  |  |
|  | **EXCHANGE-TRADED FUNDS - 0.4%** |  |  |  |
| 700000 (a) | Nuveen Municipal Income ETF |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17376590 |
|  | **TOTAL EXCHANGE-TRADED FUNDS**<br> **(Cost $17,677,750)** |  |  | **17376590** |
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MUNICIPAL BONDS - 99.9%** |  |  |  |
|  | **ALABAMA - 2.9%** |  |  |  |
| $3500000 | Birmingham-Jefferson Civic Center Authority, Alabama, Special Tax Bonds, Series 2018A | 4.000% | 07/01/38 | 3345991 |
| 3500000 | Birmingham-Jefferson Civic Center Authority, Alabama, Special Tax Bonds, Series 2018A | 4.000 | 07/01/43 | 3199391 |
| 15000000 | Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Series 2022F, (Mandatory Put 12/01/28) | 5.500 | 11/01/53 | 15765746 |
| 10000000 | Black Belt Energy Gas District, Alabama, Gas Project Revenue Bonds, Series 2023A, (Mandatory Put 10/01/30) | 5.250 | 01/01/54 | 10593786 |
| 2000000 | Hoover Industrial Development Board, Alabama, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Series 2019, (AMT) | 5.750 | 10/01/49 | 2083519 |
| 4220000 | Infirmary Health System Special Care Facilities Financing Authority of Mobile, Alabama, Revenue Bonds, Infirmary Health System, Inc., Series 2016A | 5.000 | 02/01/41 | 4236778 |
| 3510000 | Jefferson County, Alabama, Sewer Revenue Warrants, Series 2024 | 5.250 | 10/01/42 | 3716762 |
| 3510000 | Jefferson County, Alabama, Sewer Revenue Warrants, Series 2024 | 5.250 | 10/01/43 | 3701019 |
| 3510000 | Jefferson County, Alabama, Sewer Revenue Warrants, Series 2024 | 5.250 | 10/01/44 | 3691310 |
| 2805000 | Jefferson County, Alabama, Sewer Revenue Warrants, Series 2024 | 5.250 | 10/01/45 | 2929576 |
| 4070000 | Jefferson County, Alabama, Sewer Revenue Warrants, Series 2024 | 5.250 | 10/01/49 | 4199655 |
| 2075000 | Jefferson County, Alabama, Sewer Revenue Warrants, Series 2024 | 5.500 | 10/01/53 | 2171106 |
| 9400000 | Mobile County Industrial Development Authority, Alabama, Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC Project, Series 2024A, (AMT) | 5.000 | 06/01/54 | 9303603 |
| 3800000 | Mobile County Industrial Development Authority, Alabama, Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC Project, Series 2024B, (AMT) | 4.750 | 12/01/54 | 3596400 |
| 475000 | Mobile Spring Hill College Educational Building Authority, Alabama, Revenue Bonds, Spring Hill College Project, Series 2015 | 5.875 | 04/15/45 | 346258 |
| 15000000 | Southeast Energy Authority, Alabama, A Cooperative District Energy Supply Revenue Bonds Series 2024A | 5.000 | 11/01/35 | 15491853 |
| 20000000 | Southeast Energy Authority, Alabama, Commodity Supply Revenue Bonds, Project 4, Series 2022B-1, (Mandatory Put 8/01/28) | 5.000 | 05/01/53 | 20672392 |
| 5810000 | UAB Medicine Finance Authority, Alabama, Revenue Bonds, Series 2019B | 4.000 | 09/01/48 | 5238629 |
|  | TOTAL ALABAMA |  |  | 114283774 |
|  | **ARIZONA - 2.2%** |  |  |  |
| 1330000 (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 | 1336083 |
| 2000000 (b) | Arizona Industrial Development Authority, Arizona, Education Revenue Bonds, Heritage Academy - Gateway and Laveen Projects, Series 2021B | 5.000 | 07/01/51 | 1784003 |
| 19000000 (b) | Arizona Industrial Development Authority, Arizona, Hotel Revenue Bonds, Provident Group ? Falcon Properties LLC, Project, Senior Series 2022A-1 | 4.000 | 12/01/51 | 13325623 |

---

See Notes To Financial Statements<sub>5</sub>

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ARIZONA** (continued) |  |  |  |
| $1575000 | Arizona Industrial Development Authority, Senior National Charter School Revolving Loan Fund Revenue Bonds, Social Series 2023A | 5.250% | 11/01/48 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1640004 |
| 1575000 | Arizona Industrial Development Authority, Senior National Charter School Revolving Loan Fund Revenue Bonds, Social Series 2023A | 5.250 | 11/01/53 | 1626347 |
| 2660000 | 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 | 2664028 |
| 8515000 | Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2019, (AMT), (Mandatory Put 6/01/29) | 4.000 | 06/01/49 | 8484968 |
| 9530000 | Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2022-2, (AMT), (Mandatory Put 9/01/27) | 5.000 | 09/01/52 | 9764713 |
| 1000000 | Maricopa County Industrial Development Authority, Arizona, Hospital Revenue Bonds, HonorHealth, Series 2019A | 5.000 | 09/01/35 | 1036878 |
| 935000 | Maricopa County Industrial Development Authority, Arizona, Hospital Revenue Bonds, HonorHealth, Series 2019A | 5.000 | 09/01/42 | 949187 |
| 2235000 | Maricopa County Industrial Development Authority, Arizona, Revenue Bonds, Banner Health, Series 2023A-2, (Mandatory Put 5/15/28) | 5.000 | 01/01/53 | 2357344 |
| 6380000 | Phoenix Civic Improvement Corporation, Arizona, Rental Car Facility Charge Revenue Bonds, Series 2019A | 5.000 | 07/01/35 | 6696810 |
| 6000000 | Phoenix Civic Improvement Corporation, Arizona, Revenue Bonds, Civic Plaza Expansion Project, Series 2005B - FGIC Insured | 5.500 | 07/01/39 | 7047847 |
| 3500000 (b) | Pima County Industrial Development Authority, Arizona, Education Facility Revenue Bonds, American Leadership Academy Project, Refunding Series 2022. Forward Delivery | 4.000 | 06/15/41 | 3062247 |
| 1000000 | Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007 | 5.250 | 12/01/28 | 1050357 |
| 13155000 | Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007 | 5.000 | 12/01/32 | 13914054 |
| 7000000 | Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007 | 5.000 | 12/01/37 | 7373934 |
| 1000000 (b) | Sierra Vista Industrial Development Authority, Arizona, Education Facility Revenue Bonds, American Leadership Academy Project, Series 2024 | 5.000 | 06/15/44 | 982327 |
|  | TOTAL ARIZONA |  |  | 85096754 |
|  | **ARKANSAS - 0.5%** |  |  |  |
| 5045000 (b) | Arkansas Development Finance Authority, Arkansas, Environmental Improvement Revenue Bonds, United States Steel Corporation, Green Series 2022, (AMT) | 5.450 | 09/01/52 | 5169336 |
| 7370000 (b) | Arkansas Development Finance Authority, Industrial Development Revenue Bonds, Big River Steel Project, Series 2019, (AMT) | 4.500 | 09/01/49 | 7025786 |
| 5545000 | Arkansas Development Finance Authority, Revenue Bonds, Baptist Memorial Health Care, Refunding Series 2020B-1 | 5.000 | 09/01/40 | 5639830 |
|  | TOTAL ARKANSAS |  |  | 17834952 |
|  | **CALIFORNIA - 11.3%** |  |  |  |
| 10050000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023D, (Mandatory Put 11/01/28) | 5.500 | 05/01/54 | 10582975 |
| 21445000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023E, (Mandatory Put 9/01/32) | 5.000 | 02/01/55 | 22900899 |
| 22580000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023G, (Mandatory Put 4/01/30) | 5.250 | 11/01/54 | 23958263 |

---

6 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **CALIFORNIA** (continued) |  |  |  |
| $10000000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024D, (Mandatory Put 9/01/32) | 5.000% | 02/01/55 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10777003 |
| 1775000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024G, (Mandatory Put 8/01/32) | 5.000 | 11/01/55 | 1859718 |
| 2630000 (b) | California Community Housing Agency, California, Essential Housing Revenue Bonds, Creekwood, Series 2021A | 4.000 | 02/01/56 | 1697873 |
| 25260000 (b) | California Community Housing Agency, California, Essential Housing Revenue Bonds, Serenity at Larkspur Apartments, Series 2020A | 5.000 | 02/01/50 | 18542098 |
| 5000000 | California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2016B | 5.000 | 11/15/46 | 5064954 |
| 1670000 | California Health Facilities Financing Authority, Revenue Bonds, Children's Hospital Los Angeles, Series 2017A | 5.000 | 08/15/42 | 1669910 |
| 3015000 | California Health Facilities Financing Authority, Revenue Bonds, El Camino Hospital, Refunding Series 2015A | 5.000 | 02/01/40 | 3016049 |
| 485000 | California Health Facilities Financing Authority, Revenue Bonds, Providence Health & Services, Series 2014B | 5.000 | 10/01/44 | 485902 |
| 2120000 | 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 | 2207264 |
| 10400000 (b) | California Infrastructure and Economic Development Bank, Revenue Bonds, Brightline West Passenger Rail Project, Green Bond Series 2025A, (AMT), (Mandatory Put 1/01/35) | 9.500 | 01/01/65 | 10400106 |
| 2200000 (b) | California Municipal Finance Authority, Charter School Lease Revenue Bonds, Nova Academy Project, Series 2016A | 5.000 | 06/15/36 | 2147836 |
| 1000000 | California Municipal Finance Authority, Revenue Bonds, Biola University, Refunding Series 2017 | 5.000 | 10/01/31 | 1026158 |
| 10625000 | California Municipal Finance Authority, Revenue Bonds, Community Medical Centers, Series 2017A | 5.000 | 02/01/42 | 10658779 |
| 14185000 | California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Refunding Series 2017A | 5.000 | 07/01/42 | 14291970 |
| 1000000 | California Municipal Finance Authority, Revenue Bonds, Eisenhower Medical Center, Refunding Series 2017A | 5.000 | 07/01/47 | 1005213 |
| 14000000 | California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A, (AMT) | 5.000 | 12/31/37 | 14207875 |
| 27110000 | California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A, (AMT) | 5.000 | 12/31/38 | 27456148 |
| 1000000 | California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A | 5.000 | 11/01/30 | 1008888 |
| 1040000 | California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A | 5.250 | 11/01/31 | 1052112 |
| 8835000 (b) | California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon Resources Channelside LP Desalination Project, Series 2012, (AMT) | 5.000 | 07/01/30 | 8851465 |
| 14225000 (b) | California Pollution Control Financing Authority, Water Furnishing Revenue Bonds, Poseidon Resources Channelside LP Desalination Project, Series 2012, (AMT) | 5.000 | 07/01/37 | 14234293 |
| 1450000 | California Public Finance Authority, Revenue Bonds, Henry Mayo Newhall Hospital, Series 2017 | 5.000 | 10/15/37 | 1460815 |
| 415000 (b) | California Public Finance Authority, Senior Living Revenue Bonds, Enso Village, Refunding Green Series 2021A | 5.000 | 11/15/46 | 396658 |
| 810000 (b) | California Public Finance Authority, Senior Living Revenue Bonds, Enso Village, Refunding Green Series 2021A | 5.000 | 11/15/51 | 750190 |
| 10335000 | California Public Finance Authority, Senior Living Revenue Bonds, The James, Senior Series 2024A | 6.500 | 06/01/54 | 9946141 |
| 3355000 | California Public Finance Authority, Senior Living Revenue Bonds, The James, Senior Series 2024A | 6.375 | 06/01/59 | 3143110 |
| 1000000 (b) | California School Finance Authority, Charter School Revenue Bonds, Alliance for College-Ready Public Schools Projects Series 2024 | 5.000 | 07/01/49 | 1015631 |

---

See Notes To Financial Statements<sub>7</sub>

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **CALIFORNIA** (continued) |  |  |  |
| $2000000 | (b) | California School Finance Authority, Charter School Revenue Bonds, Alliance for College-Ready Public Schools Projects Series 2024 | 5.000% | 07/01/59 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2012345 |
| 525000 | (b) | California School Finance Authority, School Facility Revenue Bonds, Granada Hills Charter High School Obligated Group, Series 2024A | 5.000 | 07/01/54 | 528442 |
| 1000000 | (b) | California School Finance Authority, School Facility Revenue Bonds, Granada Hills Charter High School Obligated Group, Series 2024A | 5.000 | 07/01/64 | 1000182 |
| 16245000 |  | California State University, Systemwide Revenue Bonds, Series 2018A | 5.000 | 11/01/39 | 17035456 |
| 12000000 |  | California State, General Obligation Bonds, Various Purpose Series 2015 | 5.000 | 08/01/45 | 12042652 |
| 5000000 |  | California Statewide Communities Development Authority, Student Housing Revenue Bonds, University of California, Irvine East Campus Apartments, Phase IV-A CHF-Irvine, LLC, Series 2017 | 5.000 | 05/15/47 | 5036773 |
| 1750000 |  | California Statewide Communities Development Authority, Student Housing Revenue Bonds, University of California, Irvine East Campus Apartments, Phase IV-A CHF-Irvine, LLC, Series 2017 | 5.000 | 05/15/50 | 1758964 |
| 1804 | (c),(d) | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A | 5.750 | 07/01/30 | 1804 |
| 11587 | (c),(d) | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A | 5.750 | 07/01/35 | 11587 |
| 4373 | (c),(d) | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A | 5.500 | 07/01/39 | 4373 |
| 3800000 | (b) | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Center City Anaheim, Series 2020A | 5.000 | 01/01/54 | 3199097 |
| 1400000 |  | Fontana, California, Special Tax Bonds, Narra Hills Community Facilities District 109, Refunding Series 2024 | 5.000 | 09/01/54 | 1426736 |
| 6000000 |  | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding Senior Lien Series 2020A | 5.000 | 05/15/38 | 6395713 |
| 6000000 |  | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Senior Lien Series 2015D, (AMT) | 5.000 | 05/15/41 | 6002305 |
| 25265000 |  | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C, (AMT) | 5.000 | 05/15/44 | 25409281 |
| 1000000 |  | Manteca Financing Authority, California, Sewer Revenue Bonds, Series 2009 | 5.750 | 12/01/36 | 1004178 |
| 2800000 |  | M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009A | 7.000 | 11/01/34 | 3376064 |
| 2500000 |  | M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009A | 6.500 | 11/01/39 | 3009045 |
| 4460000 |  | M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009B | 7.000 | 11/01/34 | 5377587 |
| 2230000 |  | Oakland Unified School District, Alameda County, California, General Obligation Bonds, Election 2020, Series 2023A - AGM Insured | 5.250 | 08/01/39 | 2485614 |
| 2215000 |  | Pajaro Valley Health Care District, Santa Cruz and Monterey Counties, California, General Obligation Bonds, Social Series 2024A | 5.000 | 09/01/46 | 2156593 |
| 4000000 |  | Pajaro Valley Health Care District, Santa Cruz and Monterey Counties, California, General Obligation Bonds, Social Series 2024A | 5.000 | 09/01/54 | 3773392 |
| 2300000 | (e) | Peralta Community College District, Alameda County, California, General Obligation, Election of 2018 , Series 2025C-1 | 5.000 | 08/01/43 | 2492140 |
| 2025000 | (e) | Peralta Community College District, Alameda County, California, General Obligation, Election of 2018 , Series 2025C-1 | 5.000 | 08/01/45 | 2168226 |

---

8 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **CALIFORNIA** (continued) |  |  |  |
| $5000000 (e) | Peralta Community College District, Alameda County, California, General Obligation, Election of 2018 , Series 2025C-1 | 5.000% | 08/01/50 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5314195 |
| 3425000 (e) | Peralta Community College District, Alameda County, California, General Obligation, Election of 2018 , Series 2025C-1 | 5.000 | 08/01/54 | 3618256 |
| 3250000 (e) | Peralta Community College District, Alameda County, California, General Obligation, Refunding Series 2025 | 5.000 | 08/01/34 | 3708779 |
| 1000000 (e) | Peralta Community College District, Alameda County, California, General Obligation, Refunding Series 2025 | 5.000 | 08/01/36 | 1135318 |
| 1000000 (e) | Peralta Community College District, Alameda County, California, General Obligation, Refunding Series 2025 | 5.000 | 08/01/37 | 1126928 |
| 5500000 | Poway Unified School District, San Diego County, California, General Obligation Bonds, School Facilities Improvement District 2007-1, Series 2011A | 0.000 | 08/01/41 | 2737729 |
| 15000000 (f) | Rialto Unified School District, San Bernardino County, California, General Obligation Bonds, 2010 Election Series 2011A - AGM Insured | 0.000 | 08/01/41 | 17972025 |
| 2665000 | River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2003-1 Improvement Area 1, Refunding Series 2022A-1 - AGM Insured | 5.000 | 09/01/42 | 2824910 |
| 700000 | Roseville, California, Special Tax Bonds, Community Facilities District 1 Amoruso Ranch, Series 2024 | 5.000 | 09/01/44 | 716686 |
| 1645000 | Roseville, California, Special Tax Bonds, Community Facilities District 1 Amoruso Ranch, Series 2024 | 5.000 | 09/01/54 | 1665193 |
| 3545000 | Sacramento County, California, Airport System Revenue Bonds, Refunding Senior Series 2018C, (AMT) | 5.000 | 07/01/37 | 3627426 |
| 8960000 | Sacramento County, California, Airport System Revenue Bonds, Refunding Senior Series 2018C, (AMT) | 5.000 | 07/01/38 | 9144262 |
| 665000 | Sacramento, California, Special Tax Bonds, Community Facilities District 05-1 College Square, Series 2007 | 5.900 | 09/01/37 | 669931 |
| 8000000 | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2017A, (AMT) | 5.000 | 07/01/42 | 8060329 |
| 3020000 | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2017A, (AMT) | 5.000 | 07/01/47 | 3028076 |
| 5000000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2016B, (AMT) | 5.000 | 05/01/41 | 5016664 |
| 11715000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2016B, (AMT) | 5.000 | 05/01/46 | 11716287 |
| 5050000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2017A, (AMT) | 5.000 | 05/01/42 | 5085529 |
| 3000000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2018D, (AMT) | 5.000 | 05/01/48 | 3015304 |
| 4245000 | San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Junior Lien Series 2014B | 5.250 | 01/15/44 | 4246203 |
| 275000 (b) | Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017 | 6.250 | 09/01/47 | 283986 |
| 5000000 | Victor Valley Union High School District, San Bernardino County, California, General Obligation Bonds, 20008 Election Series 2009A - AGC Insured | 5.750 | 08/01/31 | 5191676 |
| 2485000 | Westminster School District, Orange County, California, General Obligation Bonds, Series 2009-A1 - AGC Insured | 0.000 | 08/01/26 | 2383279 |
| 1405000 | Westminster School District, Orange County, California, General Obligation Bonds, Series 2009-A1 - AGC Insured | 0.000 | 08/01/28 | 1259587 |
| 2920000 | Westminster School District, Orange County, California, General Obligation Bonds, Series 2009-A1 - AGC Insured | 0.000 | 08/01/29 | 2523550 |
| 1425000 | William S. Hart Union High School District, Los Angeles County, California, Special Tax Bonds, Community Facilities District 2015- 1, Series 2017 | 5.000 | 09/01/42 | 1433845 |
|  | TOTAL CALIFORNIA |  |  | 441030798 |

---

See Notes To Financial Statements 9

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **COLORADO - 4.9%** |  |  |  |
| $1000000 | (b) | Aerotropolis Regional Transportation Authority, Colorado, Special Revenue Bonds, Series 2024 | 5.500% | 12/01/44 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1019902 |
| 1000000 | (b) | Aerotropolis Regional Transportation Authority, Colorado, Special Revenue Bonds, Series 2024 | 5.750 | 12/01/54 | 1032290 |
| 499000 |  | Aviation Station North Metropolitan District 2, Denver County, Colorado, Limited Tax General Obligation Bonds, Refunding & Improvement Series 2019A | 4.000 | 12/01/29 | 487068 |
| 2060000 |  | Aviation Station North Metropolitan District 2, Denver County, Colorado, Limited Tax General Obligation Bonds, Refunding & Improvement Series 2019A | 5.000 | 12/01/39 | 2053053 |
| 1350000 |  | Aviation Station North Metropolitan District 2, Denver County, Colorado, Limited Tax General Obligation Bonds, Refunding & Improvement Series 2019A | 5.000 | 12/01/48 | 1284904 |
| 575000 | (b),(f) | Bella Mesa Metropolitan District, Castle Rock, Colorado, Limited Tax General Obligation Bonds, Convertible Capital Appreciation Series 2020A-3 | 0.000 | 12/01/49 | 566061 |
| 500000 |  | Broadway Station Metropolitan District 2, Denver City and County, Colorado, General Obligation Limited Tax Bonds, Convertible to Unlimited Series 2019A | 5.125 | 12/01/48 | 407048 |
| 1000000 |  | Canyons Metropolitan District 5, Douglas County, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Subordinate Refunding Series 2024B - BAM Insured | 6.500 | 12/01/54 | 1021536 |
| 9000000 | (b) | Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017 | 5.000 | 12/01/47 | 8417860 |
| 1225000 |  | Colorado Bridge and Tunnel Enterprise, Colorado, Senior Infrastructure Revenue Bonds, Series 2024A - AGM Insured | 5.250 | 12/01/49 | 1317398 |
| 1515000 |  | Colorado Bridge and Tunnel Enterprise, Colorado, Senior Infrastructure Revenue Bonds, Series 2024A - AGM Insured | 5.500 | 12/01/54 | 1643032 |
| 2065000 |  | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Community Leadership Academy Project, Series 2008 | 6.500 | 07/01/38 | 2067488 |
| 3040000 |  | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Community Leadership Academy, Inc. Second Campus Project, Series 2013 | 7.350 | 08/01/43 | 3045222 |
| 1400000 |  | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Christian Living Neighborhoods Project, Refunding Series 2016 | 5.000 | 01/01/37 | 1403200 |
| 25105000 |  | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-1 | 4.000 | 08/01/44 | 23070734 |
| 2550000 |  | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019B-1 | 4.000 | 08/01/39 | 2433921 |
| 1315000 | (e) | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Covenant Living Communities & Services, Series 2025A | 5.125 | 12/01/45 | 1357918 |
| 3265000 | (e) | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Covenant Living Communities & Services, Series 2025A | 5.125 | 12/01/50 | 3330588 |
| 1385000 | (e) | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Covenant Living Communities & Services, Series 2025A | 5.125 | 12/01/55 | 1405959 |
| 6155000 | (g) | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Evangelical Lutheran Good Samaritan Society Project, Series 2013A, (Pre-refunded 6/01/25) | 5.000 | 06/01/45 | 6175120 |
| 3000000 | (g) | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Parkview Medical Center, Refunding Series 2015B, (Pre-refunded 9/01/25) | 4.000 | 09/01/34 | 3013528 |
| 1750000 |  | Colorado International Center Metropolitan District 14, Denver, Colorado, Limited Tax General Obligation Bonds, Refunding & Improvement Series 2018 | 5.875 | 12/01/46 | 1750844 |
| 1000000 |  | Copper Ridge Metropolitan District, Colorado Springs, Colorado, Tax Increment and Sales Tax Supported Revenue Bonds, Series 2019 | 5.000 | 12/01/39 | 927954 |
| 1000000 |  | Crowfoot Valley Ranch Metropolitan District No. 2, Douglas County, Colorado, Limited Tax General Obligation Bonds, Refunding Subordinate Series 2024B | 6.125 | 12/15/54 | 985249 |
| 8125000 |  | Dawson Trails Metropolitan District 1, Colorado, In The Town of Castle Rock, Limited Tax General Obligation Capital Appreciation Turbo Bonds, Series 2024 | 0.000 | 12/01/31 | 4733896 |

---

10 *See Notes To Financial Statements*

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **COLORADO** (continued) |  |  |  |
| $18390000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2022A, (AMT) | 5.000% | 11/15/34 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19581641 |
| 3350000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2022A, (AMT) | 5.500 | 11/15/38 | 3633481 |
| 2955000 | Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016 | 5.000 | 12/01/28 | 2968610 |
| 5005000 | Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016 | 5.000 | 12/01/33 | 5007452 |
| 20000 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B - NPFG Insured | 0.000 | 09/01/29 | 17188 |
| 395000 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B - NPFG Insured | 0.000 | 09/01/30 | 326305 |
| 20000 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B - NPFG Insured | 0.000 | 09/01/32 | 15177 |
| 25000 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2000B - NPFG Insured | 0.000 | 09/01/33 | 18122 |
| 9890000 | E-470 Public Highway Authority, Colorado, Toll Revenue Bonds, Series 2004A - NPFG Insured | 0.000 | 09/01/27 | 9143577 |
| 1365000 | Foothills Metropolitan District, Fort Collins, Colorado, Special Revenue Bonds, Series 2014 | 6.000 | 12/01/38 | 1313142 |
| 845000 | Green Valley Ranch East Metropolitan District 6, Adams County, Colorado, Limited Tax General Obligation Bonds, Series 2020A-3 | 5.875 | 12/01/50 | 844233 |
| 2900000 (b) | Hess Ranch Metropolitan District 5, Parker, Colorado, Special Assessment Revenue Bonds, Special Improvement District 2, Series 2024 | 5.500 | 12/01/44 | 2831387 |
| 2000000 | Hess Ranch Metropolitan District 6, Parker, Colorado, Limited Tax General Obligation Bonds, Series 2020A-1 | 5.000 | 12/01/49 | 1809952 |
| 1000000 | Independence Metropolitan District 3, Elbert County, Colorado, Limited Tax General Obligation Bonds, Special Revenue Refunding and Improvement Series 2024A | 5.375 | 12/01/54 | 974320 |
| 1735000 | Jefferson Center Metropolitan District 1, Arvada, Jefferson County, Colorado, Special Revenue Bonds, Subordinate Series 2020B | 5.750 | 12/15/50 | 1745423 |
| 20250000 | Painted Prairie Public Improvement Authority, Aurora, Colorado, Special Revenue Bonds, Series 2019 | 5.000 | 12/01/39 | 19351860 |
| 620000 | Park Creek Metropolitan District, Colorado, Senior Limited Property Tax Supported Revenue Bonds, Refunding Series 2015A | 5.000 | 12/01/45 | 622946 |
| 830000 | Parkdale Community Authority, Erie, Colorado, Limited Tax Supported Revenue Bonds, District 1, Series 2020A | 5.000 | 12/01/40 | 788866 |
| 1370000 | Prairie Center Metropolitan District No. 3, Brighton, Colorado, Special Revenue Bonds, Park and Recreation Improvements Series 2018 | 5.125 | 12/15/42 | 1331164 |
| 500000 | Prairie Center Metropolitan District No. 3, In the City of Brighton, Adams County, Colorado, Limited Property Tax Supported District Improvements Revenue Bonds, Refunding Series 2024B | 5.875 | 12/15/46 | 529462 |
| 4250000 (b) | Prairie Center Metropolitan District No. 3, In the City of Brighton, Adams County, Colorado, Limited Property Tax Supported Primary Improvements Revenue Bonds, Refunding Series 2017A | 5.000 | 12/15/41 | 4253611 |
| 2468000 | Prairie Farm Metropolitan District, In the City of Commerce City, Adams County, Colorado, Limited Tax Convertible to Unlimited Tax, General Obligation Bonds, Series 2018A | 5.250 | 12/01/48 | 2470031 |
| 1810000 | Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs Utilities, Series 2008 | 6.250 | 11/15/28 | 1896766 |
| 3080000 | Public Authority for Colorado Energy, Natural Gas Purchase Revenue Bonds, Colorado Springs Utilities, Series 2008 | 6.500 | 11/15/38 | 3625824 |
| 2410000 (b) | Pueblo Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, EVRAZ Project, Series 2021A | 4.750 | 12/01/45 | 2078733 |
| 3555000 (b) | Reagan Ranch Metropolitan District 1, Colorado Springs, Colorado, General Obligation Bonds, Limited Tax & Special Revenue, Series 2025 | 6.125 | 12/01/54 | 3442854 |

---

See Notes To Financial Statements<sub>11</sub>

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **COLORADO** (continued) |  |  |  |
| $2600000 |  | Redtail Ridge Metropolitan District, City of Louisville, Boulder County, Colorado, General Obligation Limited Tax Capital Appreciation Turbo Bonds, Series 2025 | 0.000% | 12/01/32 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1529610 |
| 3620000 | (b) | Ridge at Johnstown Metropolitan District 8, Larimer County, Colorado, Special Assessment Revenue Bonds, Special Improvement District 1, Series 2024 | 5.875 | 12/01/44 | 3455020 |
| 500000 | (b) | Settler's Crossing Metropolitan District 1, Lakewood, Colorado, Limited Tax General Obligation Bonds, Series 2020A | 5.000 | 12/01/40 | 494908 |
| 1000000 | (b),(f) | St. Vrain Lakes Metropolitan District 4, Weld County, Colorado, General Obligation Bonds, Firestone Convertible Capital Appreciation Limited Tax Series 2024A | 0.000 | 09/20/54 | 678120 |
| 3611000 |  | Vauxmont Metropolitan District, Arvada, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Convertible to Unlimited Tax Refunding Subordinate Series 2019 - AGM Insured | 3.250 | 12/15/50 | 2812953 |
| 500000 |  | Velocity Metropolitan District 3, In the City of Aurora, Colorado, Limited Tax General Obligation Bonds, Series 2019 | 5.125 | 12/01/34 | 490896 |
| 2000000 |  | Velocity Metropolitan District 3, In the City of Aurora, Colorado, Limited Tax General Obligation Bonds, Series 2019 | 5.375 | 12/01/39 | 1986396 |
| 5000000 |  | Velocity Metropolitan District 3, In the City of Aurora, Colorado, Limited Tax General Obligation Bonds, Series 2019 | 5.500 | 12/01/48 | 4875933 |
| 7740000 | (b) | West Globeville Metropolitan District 1, Denver, Colorado, General Obligation Limited Tax Bonds, Series 2024A-2 | 8.000 | 12/01/54 | 4505152 |
| 2200000 | (b) | West Globeville Metropolitan District 1, Denver, Colorado, Special Assessment Revenue Bonds, Special Improvement District 1, Series 2024 | 5.750 | 12/01/44 | 2146475 |
| 3000000 | (b) | Windler Public Improvement Authority, Aurora, Colorado, Limited Tax Supported Revenue Bonds, Series 2021A-1 | 4.125 | 12/01/51 | 2297449 |
|  |  | TOTAL COLORADO |  |  | 190846812 |
|  |  | **CONNECTICUT - 0.9%** |  |  |  |
| 2500000 |  | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Nuvance Health Series 2019A | 4.000 | 07/01/36 | 2450183 |
| 5630000 |  | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Nuvance Health Series 2019A | 4.000 | 07/01/38 | 5403841 |
| 5000000 |  | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity Health Credit Group, Series 2016CT | 5.000 | 12/01/41 | 5029735 |
| 16000000 |  | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity Health Credit Group, Series 2016CT | 5.000 | 12/01/45 | 16011438 |
| 2500000 |  | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2020A - BAM Insured | 4.000 | 05/01/36 | 2543433 |
| 2550000 |  | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2020A - BAM Insured | 4.000 | 05/01/39 | 2553860 |
|  |  | TOTAL CONNECTICUT |  |  | 33992490 |
|  |  | **DELAWARE - 0.3%** |  |  |  |
| 2000000 |  | Delaware Economic Development Authority, Exempt Facility Revenue Bonds, NRG Energy Project, Refunding Series 2020A, (Mandatory Put 10/01/25) | 1.250 | 10/01/45 | 1971459 |
| 8500000 |  | Delaware Health Facilities Authority, Revenue Bonds, Beebe Medical Center Project, Series 2018 | 5.000 | 06/01/43 | 8269272 |
| 1000000 | (h) | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2024B, (UB) | 4.600 | 07/01/44 | 990152 |
| 1345000 | (h) | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2024B, (UB) | 4.650 | 07/01/49 | 1322126 |
|  |  | TOTAL DELAWARE |  |  | 12553009 |

---

12 *See Notes To Financial Statements*

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

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **DISTRICT OF COLUMBIA - 0.8%** |  |  |  |
| $7180000 | District of Columbia, Washington, D.C., Revenue Bonds, Latin American Montessori Bilingual Public Charter School, Series 2020 | 5.000% | 06/01/50 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6790603 |
| 2890000 (h) | Metropolitan Washington Airports Authority, District of Columbia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Refunding & Subordinate Lien Series 2019B, (UB) | 4.000 | 10/01/53 | 2544123 |
| 1500000 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Refunding & Subordinate Lien Series 2019B | 4.000 | 10/01/37 | 1467078 |
| 3745000 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital improvement Projects, Second Senior Lien Series 2009B - AGC Insured | 0.000 | 10/01/31 | 2967584 |
| 9375000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2018A, (AMT) | 5.000 | 10/01/34 | 9655503 |
| 3850000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2024A, (AMT) | 5.250 | 10/01/45 | 4002627 |
| 4250000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2024A, (AMT) | 5.250 | 10/01/46 | 4404613 |
|  | TOTAL DISTRICT OF COLUMBIA |  |  | 31832131 |
|  | **FLORIDA - 8.2%** |  |  |  |
| 1885000 | Atlantic Beach, Florida, Healthcare Facilities Revenue Refunding Bonds, Fleet Landing Project, Series 2013A | 5.000 | 11/15/28 | 1886628 |
| 345000 | Boynton Village Community Development District, Florida, Special Assessment Bonds, Series 2007-A1 | 5.750 | 05/01/37 | 345213 |
| 8605000 | Broward County, Florida, Port Facilities Revenue Bonds, Series 2019A | 5.000 | 09/01/44 | 8799090 |
| 3520000 | Broward County, Florida, Port Facilities Revenue Bonds, Series 2019B, (AMT) | 4.000 | 09/01/38 | 3395302 |
| 245000 (b) | Capital Trust Agency, Florida, Educational Facilities Lease Revenue Bonds, Franklin Academy Projects, Series 2020 | 5.000 | 12/15/40 | 235734 |
| 7910000 (b) | Capital Trust Agency, Florida, Educational Facilities Lease Revenue Bonds, Franklin Academy Projects, Series 2020 | 5.000 | 12/15/50 | 7254263 |
| 3470000 (b) | Capital Trust Agency, Florida, Educational Facilities Lease Revenue Bonds, Franklin Academy Projects, Series 2020 | 5.000 | 12/15/55 | 3135599 |
| 1500000 | Capital Trust Agency, Florida, Multifamily Housing Revenue Bonds, The Gardens Apartments Project, Series 2015A | 4.750 | 07/01/40 | 1045893 |
| 1380000 | Capital Trust Agency, Florida, Multifamily Housing Revenue Bonds, The Gardens Apartments Project, Series 2015A | 5.000 | 07/01/50 | 894280 |
| 565000 (b) | Capital Trust Agency, Florida, Revenue Bonds, Renaissance Charter School Project, Series 2019A | 5.000 | 06/15/39 | 539945 |
| 610000 (b) | Capital Trust Agency, Florida, Revenue Bonds, Renaissance Charter School Project, Series 2019A | 5.000 | 06/15/49 | 563072 |
| 2290000 (b) | Capital Trust Authority, Florida, Educational Facilities Revenue Bonds, Babcock Neighborhood School Inc Project, Series 2024 | 5.125 | 08/15/39 | 2207529 |
| 1100000 (b) | Capital Trust Authority, Florida, Educational Facilities Revenue Bonds, Babcock Neighborhood School Inc Project, Series 2024 | 6.000 | 08/15/63 | 1057718 |
| 7000000 | Central Florida Expressway Authority, Revenue Bonds, Senior Lien Series 2019B | 5.000 | 07/01/49 | 7179515 |
| 590000 | Cityplace Community Development District, Florida, Special Assessment and Revenue Bonds, Refunding Series 2012 | 5.000 | 05/01/26 | 594879 |
| 1255000 | Edgewater West Community Development District, Osceola County, Florida, Special Assessment Revenue Bonds, Assessment Area One Series 2024 | 5.250 | 05/01/44 | 1209774 |
| 1570000 (b) | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School Income Projects, Series 2015A | 6.125 | 06/15/46 | 1571247 |
| 1500000 (b) | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2014A | 6.125 | 06/15/44 | 1500596 |
| 315000 (b) | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Renaissance Charter School, Inc. Projects, Series 2020C | 5.000 | 09/15/50 | 283035 |

---

See Notes To Financial Statements<sub>13</sub>

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **FLORIDA** (continued) |  |  |  |
| $4100000 (b) | Florida Development Finance Corporation, Florida, Solid Waste Disposal Revenue Bonds, GFL Solid Waste Southeast LLC Project Series 2024A, (AMT), (Mandatory Put 10/01/31) | 4.375% | 10/01/54 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4105227 |
| 10100000 (b) | Florida Development Finance Corporation, Florida, Solid Waste Disposal Revenue Bonds, Waste Pro USA, Inc. Project, Series 2023, (AMT), (Mandatory Put 7/01/26) | 6.125 | 07/01/32 | 10289414 |
| 20690000 (b) | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT), (Mandatory Put 7/15/28) | 12.000 | 07/15/32 | 21950933 |
| 9500000 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT) | 5.000 | 07/01/41 | 9244697 |
| 6100000 (h) | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT), (UB) | 5.000 | 07/01/44 | 6124003 |
| 2570000 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT) | 5.250 | 07/01/47 | 2582162 |
| 5950000 (h) | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT), (UB) | 5.250 | 07/01/47 | 6075505 |
| 2280000 (h) | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT), (UB) | 5.250 | 07/01/53 | 2323474 |
| 4500000 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT) | 5.500 | 07/01/53 | 4547080 |
| 24620000 (b) | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Series 2025A, (AMT), (Mandatory Put 8/13/25) | 8.250 | 07/01/57 | 25567693 |
| 1270000 (b) | Florida Development Finance Corporation, Student Housing Revenue Bonds, SPP - Tampa I - LLC The Henry Project, Series 2024A-1 | 5.000 | 06/01/44 | 1258635 |
| 12020000 | Halifax Hospital Medical Center, Daytona Beach, Florida, Hospital Revenue Bonds, Series 2024 | 5.250 | 06/01/54 | 12628301 |
| 26155000 | Hillsborough County Industrial Development Authority, Florida, Hospital Revenue Bonds, Florida Health Sciences Center Inc D/B/A Tampa General Hospital, Series 2020A | 4.000 | 08/01/50 | 22825058 |
| 1040000 | Jacksonville, Florida, Health Care Facilities Revenue Bonds, Brooks Rehabilitation, Series 2020 | 4.000 | 11/01/37 | 993171 |
| 1085000 | Jacksonville, Florida, Health Care Facilities Revenue Bonds, Brooks Rehabilitation, Series 2020 | 4.000 | 11/01/38 | 1026915 |
| 1650000 | Jacksonville, Florida, Health Care Facilities Revenue Bonds, Brooks Rehabilitation, Series 2020 | 4.000 | 11/01/39 | 1542352 |
| 2170000 | Jacksonville, Florida, Health Care Facilities Revenue Bonds, Brooks Rehabilitation, Series 2020 | 4.000 | 11/01/40 | 2011869 |
| 10285000 | Jacksonville, Florida, Special Revenue Bonds, Refunding Series 2017A | 5.250 | 10/01/42 | 10585155 |
| 255000 | Lee County Industrial Development Authority, Florida, Charter School Revenue Bonds, Lee County Community Charter Schools, Series 2007A | 5.250 | 06/15/27 | 255092 |
| 830000 (b) | Lee County Industrial Development Authority, Florida, Charter School Revenue Bonds, Lee County Community Charter Schools, Series 2012A | 5.500 | 06/15/32 | 830412 |
| 1375000 (b) | Lee County Industrial Development Authority, Florida, Charter School Revenue Bonds, Lee County Community Charter Schools, Series 2012A | 5.750 | 06/15/42 | 1375038 |
| 10000000 | Miami Dade County, Florida, Professional Sports Franchise Facilities Tax Revenue Bonds, Refunding Series 2009A - AGC Insured | 0.000 | 10/01/45 | 3736953 |
| 38000000 | Miami Dade County, Florida, Professional Sports Franchise Facilities Tax Revenue Bonds, Series 2009C - AGC Insured | 0.000 | 10/01/44 | 15143429 |

---

14 *See Notes To Financial Statements*

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

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

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **FLORIDA** (continued) |  |  |  |
| $11275000 | Miami, Florida, Limited Ad Valorem Tax Bonds, Forever Infrastructure Programs Series 2024A | 5.500% | 01/01/49 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12337722 |
| 12195000 | Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2015A - BAM Insured, (AMT) | 5.000 | 10/01/38 | 12213979 |
| 5025000 (h) | Miami-Dade County, Florida, Seaport Revenue Bonds, Refunding Series 2022A, (AMT), (UB) | 5.250 | 10/01/52 | 5157688 |
| 2870000 | Miami-Dade County, Florida, Special Obligation Bonds, Subordinate Series 2009 - BAM Insured | 0.000 | 10/01/37 | 1730624 |
| 10000000 | Miami-Dade County, Florida, Transit System Sales Surtax Revenue Bonds, Series 2022 | 5.000 | 07/01/45 | 10422856 |
| 11975000 | Miami-Dade County, Florida, Water and Sewer System Revenue Bonds, Series 2024A | 5.250 | 10/01/54 | 12765424 |
| 365000 (b) | Mirada Community Development District, Florida, Capital Improvement Bonds, Assessment Area 3 Series 2024 | 4.750 | 05/01/31 | 364497 |
| 265000 (b) | Mirada Community Development District, Florida, Capital Improvement Bonds, Assessment Area 3 Series 2024 | 5.625 | 05/01/44 | 262743 |
| 630000 (b) | Mirada Community Development District, Florida, Capital Improvement Bonds, Assessment Area 3 Series 2024 | 6.000 | 05/01/55 | 631923 |
| 5095000 | Putnam County Development Authority, Florida, Pollution Control Revenue Bonds, Seminole Electric Cooperative, Inc. Project, Refunding Series 2018B | 5.000 | 03/15/42 | 5182762 |
| 1685000 | School Board of Lee County, Florida, Certificates of Participation, Series 2023A | 5.000 | 08/01/38 | 1813756 |
| 4465000 | School Board of Lee County, Florida, Certificates of Participation, Series 2023A | 5.000 | 08/01/39 | 4762652 |
| 2715000 | School Board of Lee County, Florida, Certificates of Participation, Series 2023A | 5.000 | 08/01/40 | 2881609 |
| 5000000 | Seminole County Industrial Development Authority, Florida, Retirement Facility Revenue Bonds, Legacy Pointe At UCF Project, Series 2019A | 5.250 | 11/15/39 | 5012380 |
| 1015000 | Seminole County Industrial Development Authority, Florida, Retirement Facility Revenue Bonds, Legacy Pointe At UCF Project, Series 2019A | 5.500 | 11/15/49 | 990570 |
| 2610000 | South Broward Hospital District, Florida, Hospital Revenue Bonds, South Broward Hospital District Obligated Group, Refunding Series 2016A | 4.000 | 05/01/44 | 2388591 |
| 4525000 | South Miami Health Facilities Authority, Florida, Hospital Revenue Bonds, Baptist Health Systems of South Florida Obligated Group, Refunding Series 2017 | 4.000 | 08/15/42 | 4275154 |
| 2965000 | South Miami Health Facilities Authority, Florida, Hospital Revenue Bonds, Baptist Health Systems of South Florida Obligated Group, Refunding Series 2017 - BAM Insured | 5.000 | 08/15/42 | 3015222 |
| 500000 | Sumter County Industrial Development Authority, Florida, Hospital Revenue Bonds, Central Florida Health Alliance Projects, Series 2014A | 5.000 | 07/01/29 | 500502 |
| 6860000 | Sumter County Industrial Development Authority, Florida, Hospital Revenue Bonds, Central Florida Health Alliance Projects, Series 2014A | 5.250 | 07/01/44 | 6863157 |
| 2640000 (b) | Tolomato Community Development District, Florida, Special Assessment Bonds, Refunding Series 2022A - AGM Insured | 4.000 | 05/01/40 | 2530968 |
| 1200000 (b) | Village Community Development District 15, Florida, Special Assessment Revenue Bonds, Series 2024 | 3.750 | 05/01/29 | 1195424 |
| 13000000 | Volusia County Educational Facilities Authority, Florida, Revenue Bonds, Stetson University Inc. Project, Series 2015 | 5.000 | 06/01/40 | 12558610 |
|  | TOTAL FLORIDA |  |  | 320580693 |

---

See Notes To Financial Statements 15

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **GEORGIA - 1.4%** |  |  |  |
| $3785000 (f) | Atlanta Development Authority, Georgia, Economic Development Certificates, Gulch Enterprise Zone Project, Convertible Capital Appreciation Series 2024A-1 Class A | 0.000% | 12/15/48 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3251974 |
| 1650000 (b) | Atlanta Development Authority, Georgia, Revenue Bonds, Westside Gulch Area Project, Senior Series 2024A-2 | 5.500 | 04/01/39 | 1680471 |
| 2500000 (c) | Atlanta Development Authority, Georgia, Senior Health Care Facilities Revenue Bonds, Georgia Proton Treatment Center Project, Current Interest Series 2017A-1 | 6.750 | 01/01/35 | 1000000 |
| 1000000 (c) | Atlanta Development Authority, Georgia, Senior Health Care Facilities Revenue Bonds, Georgia Proton Treatment Center Project, Current Interest Series 2017A-1 | 7.000 | 01/01/40 | 400000 |
| 3500000 | Atlanta, Georgia, Airport Passenger Facilities Charge and General Revenue Bonds, Subordinate Lien Green Series 2023E, (AMT) | 5.250 | 07/01/41 | 3701966 |
| 9740000 | Brookhaven Development Authority, Georgia, Revenue Bonds, Children's Healthcare of Atlanta, Inc. Project, Series 2019A | 4.000 | 07/01/44 | 9027641 |
| 8335000 | Fayette County Development Authority, Georgia, Revenue Bonds, United States Soccer Federation, Inc. Project Series 2024 | 5.250 | 10/01/49 | 8690911 |
| 5500000 | Griffin-Spalding County Hospital Authority, Georgia, Revenue Anticipation Certificates, Wellstar Health System Inc., Series 2017A | 4.000 | 04/01/42 | 5119943 |
| 1000000 | Main Street Natural Gas Inc., Georgia, Gas Project Revenue Bonds, Series 2007A | 5.500 | 09/15/28 | 1055265 |
| 17600000 (b) | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2022C, (Mandatory Put 11/01/27) | 4.000 | 08/01/52 | 17569735 |
| 4500000 | Savannah Hospital Authority, Georgia, Revenue Bonds, Saint Joseph's/Candler Health System, Inc., Anticipation Certificate Series 2019A | 4.000 | 07/01/39 | 4354157 |
|  | TOTAL GEORGIA |  |  | 55852063 |
|  | **HAWAII - 0.2%** |  |  |  |
| 1400000 (b) | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific University Project, Refunding Series 2024 | 5.000 | 07/01/34 | 1406166 |
| 4545000 | Hawaii State, Airport System Revenue Bonds, Series 2015A, (AMT) | 5.000 | 07/01/45 | 4566949 |
|  | TOTAL HAWAII |  |  | 5973115 |
|  | **IDAHO - 0.5%** |  |  |  |
| 466000 (b) | Eagle Avimor Community Infrastructure District 1, Ada, Boise, and Gem Counties, Idaho, Special Assessment Revenue Bonds, Assessment Area 5 Series 2024 | 5.875 | 09/01/53 | 476801 |
| 1000000 (b) | Eagle Avimor Community Infrastructure District 1, Ada, Boise, and Gem Counties, Idaho, Special Assessment Revenue Bonds, Assessment Area 6 Series 2024B | 5.500 | 09/01/53 | 1002787 |
| 1485000 (b) | Idaho Falls Auditorium District, Idaho, Certifications of Participation, Annual Appropriation Series 2021 | 5.250 | 05/15/51 | 1463399 |
| 4200000 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2018A | 5.000 | 03/01/36 | 4359268 |
| 1290000 | Idaho Housing and Finance Association, Grant and Revenue Anticipation Bonds, Federal Highway Trust Funds, Series 2021A | 4.000 | 07/15/38 | 1273457 |
| 2000000 (b) | Idaho Housing and Finance Association, Nonprofit Facilities Revenue Bonds, Idaho Arts Charter School, Inc. Project, Refunding Series 2016A | 5.000 | 12/01/38 | 1958419 |
| 2500000 (b) | Idaho Housing and Finance Association, Nonprofit Facilities Revenue Bonds, The College of Idaho Project, Series 2023 | 5.625 | 11/01/43 | 2517160 |
| 1806000 (h) | Idaho Housing and Finance Association, Single Family Mortgage Revenue Bonds, Series 2024A, (UB) | 4.050 | 01/01/39 | 1771328 |
| 1235000 (h) | Idaho Housing and Finance Association, Single Family Mortgage Revenue Bonds, Series 2024A, (UB) | 4.450 | 01/01/44 | 1209007 |
| 2675000 (h) | Idaho Housing and Finance Association, Single Family Mortgage Revenue Bonds, Series 2024A, (UB) | 4.650 | 01/01/54 | 2631090 |
|  | TOTAL IDAHO |  |  | 18662716 |

---

16 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ILLINOIS - 9.1%** |  |  |  |
| $67800000 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016 | 6.000% | 04/01/46 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69339982 |
| 2125000 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2023 | 5.250 | 04/01/35 | 2292429 |
| 1250000 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2023 | 5.250 | 04/01/37 | 1336521 |
| 1600000 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2023 | 5.000 | 04/01/38 | 1675773 |
| 1000000 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2023 | 5.250 | 04/01/39 | 1059653 |
| 1960000 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2023 | 5.500 | 04/01/42 | 2083704 |
| 625000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues Series 2012A | 5.000 | 12/01/42 | 597958 |
| 1215000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Project Series 2015C | 5.250 | 12/01/39 | 1181962 |
| 35090000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2016A | 7.000 | 12/01/44 | 35531790 |
| 3890000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2023A | 5.500 | 12/01/31 | 4141753 |
| 15000000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2023A | 5.000 | 12/01/32 | 15509715 |
| 10000000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2023A | 5.000 | 12/01/34 | 10262574 |
| 10000000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2023A | 5.250 | 12/01/35 | 10385269 |
| 1250000 | Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Second Lien Series 2020A | 5.000 | 12/01/45 | 1263897 |
| 2220000 | Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Second Lien Series 2020A | 4.000 | 12/01/50 | 2024250 |
| 9845000 | Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Refunding Senior Lien Series 2018A | 5.000 | 01/01/48 | 9871421 |
| 8805000 (h) | Chicago, Illinois, General Obligation Bonds, Project & Refunding Series 2017A, (UB) | 6.000 | 01/01/38 | 9007983 |
| 705000 | Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C | 5.000 | 01/01/35 | 705847 |
| 2175000 (h) | Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C, (UB) | 5.000 | 01/01/38 | 2173085 |
| 6000000 (h) | Chicago, Illinois, General Obligation Bonds, Refunding Series 2020A, (UB) | 5.000 | 01/01/30 | 6295898 |
| 5000000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2023A - BAM Insured | 5.000 | 01/01/31 | 5317154 |
| 1700000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2023A - BAM Insured | 5.000 | 01/01/32 | 1817427 |
| 1600000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2023A - BAM Insured | 5.000 | 01/01/33 | 1716631 |
| 450000 | Chicago, Illinois, Water Revenue Bonds, Refunding Second Lien Series 2023B - AGM Insured | 5.000 | 11/01/37 | 480204 |
| 5000000 | Illinois Finance Authority Revenue Bonds, OSF Healthcare System, Series 2018A - BAM Insured | 4.125 | 05/15/47 | 4644745 |
| 1455000 | Illinois Finance Authority, Revenue Bonds, Ascension Health Alliance, Series 2016C | 4.000 | 02/15/41 | 1352870 |
| 45000 (g) | Illinois Finance Authority, Revenue Bonds, Ascension Health Alliance, Series 2016C, (Pre-refunded 2/15/27) | 4.000 | 02/15/41 | 45740 |
| 700000 | Illinois Finance Authority, Revenue Bonds, Dominican University, Refunding Series 2022 | 5.000 | 03/01/42 | 653721 |
| 10810000 | Illinois Finance Authority, Revenue Bonds, Mercy Health Corporation, Series 2016 | 5.000 | 12/01/40 | 10898928 |
| 12295000 | Illinois Finance Authority, Revenue Bonds, Northshore - Edward- Elmhurst Health Credit Group, Series 2022A | 5.000 | 08/15/47 | 12749327 |
| 10715000 | Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A | 5.000 | 11/15/45 | 10721412 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **17** |

---

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ILLINOIS** (continued) |  |  |  |
| $20000 | Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2015A | 4.000% | 11/15/39 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18414 |
| 1105000 | Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C | 5.000 | 08/15/35 | 1108361 |
| 14715000 | Illinois Finance Authority, Revenue Bonds, The University of Chicago Medical Center, Series 2016B | 4.000 | 08/15/41 | 13699437 |
| 450000 | Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2024A | 5.250 | 04/01/49 | 473463 |
| 7335000 | Illinois Sports Facility Authority, State Tax Supported Bonds, Refunding Series 2014 - AGM Insured | 5.250 | 06/15/31 | 7409188 |
| 10105000 | Illinois State, General Obligation Bonds, December Series 2023C | 5.000 | 12/01/47 | 10264667 |
| 4725000 | Illinois State, General Obligation Bonds, December Series 2023C | 5.000 | 12/01/48 | 4796074 |
| 3725000 | Illinois State, General Obligation Bonds, June Series 2016 | 4.000 | 06/01/36 | 3576090 |
| 10000000 | Illinois State, General Obligation Bonds, May Series 2020 | 5.750 | 05/01/45 | 10588531 |
| 4000000 | Illinois State, General Obligation Bonds, May Series 2024B | 5.250 | 05/01/43 | 4213859 |
| 2000000 | Illinois State, General Obligation Bonds, May Series 2024B | 5.250 | 05/01/44 | 2097985 |
| 1575000 | Illinois State, General Obligation Bonds, May Series 2024B | 5.250 | 05/01/45 | 1645151 |
| 1600000 | Illinois State, General Obligation Bonds, May Series 2024B | 5.250 | 05/01/47 | 1654442 |
| 2500000 | Illinois State, General Obligation Bonds, May Series 2024B | 5.250 | 05/01/48 | 2578395 |
| 11625000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/27 | 12121610 |
| 3000000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/28 | 3117842 |
| 2000000 | Illinois State, General Obligation Bonds, Refunding September Series 2018A | 5.000 | 10/01/28 | 2105525 |
| 7000000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2020A | 5.000 | 06/15/50 | 7069370 |
| 1500000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2022A | 4.000 | 12/15/42 | 1371314 |
| 6450000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2015A - AGM Insured | 0.000 | 12/15/52 | 1628766 |
| 1225000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2015A | 5.000 | 06/15/53 | 1225139 |
| 10000000 | Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A - AGM Insured | 0.000 | 12/15/35 | 6449518 |
| 23065000 | Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A - NPFG Insured | 0.000 | 06/15/37 | 13461537 |
| 1838000 | Plano, Illinois, Special Tax Bonds, Special Service Area 1 & 2 Lakewood Springs Project, Refunding Series 2014 - AGM Insured | 5.000 | 03/01/34 | 1839679 |
| 4450000 | Regional Transportation Authority, Cook, DuPage, Kane, Lake, McHenry and Will Counties, Illinois, General Obligation Bonds, Series 2001A - FGIC Insured | 6.000 | 07/01/27 | 4611653 |
|  | TOTAL ILLINOIS |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356265633 |
|  | **INDIANA - 2.0%** |  |  |  |
| 2000000 (b) | Gary Local Public Improvement Bond Bank, Indiana, Economic Development Revenue Bonds, Drexel Foundation for Educational Excellence Project, Refunding Series 2020A | 5.875 | 06/01/55 | 1851471 |
| 825000 (b) | Indiana Finance Authority, Educational Facilities Revenue Bonds, Circle City Preparatory Inc. Project, Series 2021A | 5.000 | 12/01/40 | 720266 |
| 3710000 (b) | Indiana Finance Authority, Educational Facilities Revenue Bonds, Lighthouse Academies of Northwest Indiana Inc. Project, Series 2016 | 7.000 | 12/01/34 | 3713563 |
| 6075000 (b) | Indiana Finance Authority, Educational Facilities Revenue Bonds, Lighthouse Academies of Northwest Indiana Inc. Project, Series 2016 | 7.250 | 12/01/44 | 6079802 |
| 5000000 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Rose Hulman Institute Of Technology Project, Series 2018 | 4.000 | 06/01/44 | 4613567 |
| 1640000 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Valparaiso University Project, Series 2014 | 5.000 | 10/01/39 | 1639867 |
| 2790000 (b) | Indiana Finance Authority, Educational Facilities Revenue Bonds, Victory College Prep Project, Series 2021A | 4.500 | 12/01/55 | 2274423 |
| 10325000 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, First Lien Green Series 2016A | 5.000 | 10/01/41 | 10479756 |

---

18 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **INDIANA** (continued) |  |  |  |
| $4880000 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, First Lien Green Series 2016A | 5.000% | 10/01/46 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4927635 |
| 1000000 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Refunding Forward Delivery Series 2024A<br> - BAM Insured | 5.000 | 10/01/40 | 1079337 |
| 1000000 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Refunding Forward Delivery Series 2024A<br> - BAM Insured | 5.000 | 10/01/41 | 1068032 |
| 1000000 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Refunding Forward Delivery Series 2024A<br> - BAM Insured | 5.000 | 10/01/42 | 1060548 |
| 1000000 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Refunding Forward Delivery Series 2024A<br> - BAM Insured | 5.000 | 10/01/43 | 1055503 |
| 5215000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Airport Authority Project Revenue Bonds, Refunding Series 2015I, (AMT) | 5.000 | 01/01/32 | 5219023 |
| 3385000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Revenue Bonds, Convention Center Hotel Senior Series 2023E | 5.750 | 03/01/43 | 3570035 |
| 8495000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Revenue Bonds, Convention Center Hotel Senior Series 2023E | 6.000 | 03/01/53 | 8963922 |
| 1815000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Revenue Bonds, Convention Center Hotel Senior Series 2023E | 6.125 | 03/01/57 | 1918489 |
| 3080000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Revenue Bonds, Convention Center Hotel Subordinate Series 2023F-1 - BAM Insured | 5.000 | 03/01/53 | 3178877 |
| 3225000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Revenue Bonds, Convention Center Hotel Subordinate Series 2023F-1 - BAM Insured | 5.000 | 03/01/58 | 3302112 |
| 3000000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Revenue Bonds, Convention Center Hotel Subordinate Series 2023F-1 - BAM Insured | 5.250 | 03/01/67 | 3116926 |
| 8435000 | Whiting, Indiana, Environmental Facilities Revenue Bonds, BP Products North America Inc. Project, Series 2015, (AMT), (Mandatory Put 6/10/31) | 4.400 | 11/01/45 | 8582641 |
|  | TOTAL INDIANA |  |  | 78415795 |
|  | **IOWA - 1.1%** |  |  |  |
| 2000000 | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Alcoa Inc. Project, Series 2012 | 4.750 | 08/01/42 | 2001587 |
| 6230000 (g) | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2022, (Pre-refunded 12/01/32), (Mandatory Put 12/01/32) | 4.000 | 12/01/50 | 6608068 |
| 25575000 (g) | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2022, (Pre-refunded 12/01/32), (Mandatory Put 12/01/42) | 5.000 | 12/01/50 | 28859825 |
| 200000 | Iowa Finance Authority, Revenue Bonds, Lifespace Communities, Inc., Series 2024A | 5.000 | 05/15/39 | 204513 |
| 245000 | Iowa Finance Authority, Revenue Bonds, Lifespace Communities, Inc., Series 2024A | 5.000 | 05/15/44 | 244073 |
| 1500000 | Iowa Finance Authority, Revenue Bonds, Lifespace Communities, Inc., Series 2024A | 5.000 | 05/15/49 | 1456783 |
| 2600000 | Iowa Finance Authority, Revenue Bonds, Lifespace Communities, Inc., Series 2024A | 5.125 | 05/15/59 | 2526350 |
|  | TOTAL IOWA |  |  | 41901199 |
|  | **KANSAS - 0.1%** |  |  |  |
| 1500000 | Hutchinson, Kansas, Hospital Facilities Revenue Bonds, Hutchinson Regional Medical Center, Inc., Series 2016 | 5.000 | 12/01/36 | 1359911 |
| 1320000 | Hutchinson, Kansas, Hospital Facilities Revenue Bonds, Hutchinson Regional Medical Center, Inc., Series 2016 | 5.000 | 12/01/41 | 1106301 |
| 1250000 | Wichita, Kansas, Health Care Facilities Revenue Bonds, Presbyterian Manors, Series 2024VIII | 5.750 | 05/15/45 | 1252088 |
|  | TOTAL KANSAS |  |  | 3718300 |

---

See Notes To Financial Statements 19

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **KENTUCKY - 1.2%** |  |  |  |
| $6675000 | Carroll County, Kentucky, Environmental Facilities Revenue Bonds, Kentucky Utilities Company Project, Refunding Series 2006B, (AMT) | 2.125% | 10/01/34 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5230811 |
| 2545000 | Kentucky Bond Development Corporation, Transient Room Tax Revenue Bonds, Lexington Center Corporation Project, Series 2018A | 5.000 | 09/01/43 | 2588624 |
| 2600000 | Kentucky Bond Development Corporation, Transient Room Tax Revenue Bonds, Lexington Center Corporation Project, Series 2018A | 5.000 | 09/01/48 | 2624871 |
| 6565000 | Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2017A - AGM Insured | 5.000 | 12/01/45 | 6641260 |
| 8500000 | Kentucky Economic Development Finance Authority, Revenue Bonds, CommonSpirit Health, Series 2019A-2 | 5.000 | 08/01/44 | 8583236 |
| 2450000 | Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A | 5.000 | 07/01/26 | 2459300 |
| 2100000 | Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A | 5.000 | 07/01/33 | 2104522 |
| 5655000 | Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A | 5.000 | 07/01/37 | 5662870 |
| 3885000 | Louisville/Jefferson County Metro Government, Kentucky, Health System Revenue Bonds, Norton Healthcare Inc, Series 2016A | 5.000 | 10/01/30 | 3960638 |
| 1850000 | Louisville/Jefferson County Metro Government, Kentucky, Health System Revenue Bonds, Norton Healthcare Inc, Series 2016A | 5.000 | 10/01/31 | 1885273 |
| 5415000 | Louisville/Jefferson County Metro Government, Kentucky, Health System Revenue Bonds, Norton Healthcare, Inc., Series 2020A - BAM Insured | 3.000 | 10/01/43 | 4430211 |
|  | TOTAL KENTUCKY |  |  | 46171616 |
|  | **LOUISIANA - 1.3%** |  |  |  |
| 21025000 (b) | Louisiana Public Facilities Authority, Dock and Wharf Revenue Bonds, Impala Warehousing (US) LLC Project, Series 2013, (AMT) | 6.500 | 07/01/36 | 21032563 |
| 1600000 (b) | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Lake Charles Charter Academy Foundation Project, Refunding Series 2024A | 5.000 | 12/15/34 | 1622490 |
| 1350000 | Louisiana Publics Facilities Authority, Louisiana, Revenue Bonds, I-10 Calcasieu River Bridge Public-Private Partnership Project, Senior Lien Series 2024, (AMT) | 5.500 | 09/01/54 | 1402648 |
| 7985000 | Louisiana Publics Facilities Authority, Louisiana, Revenue Bonds, I-10 Calcasieu River Bridge Public-Private Partnership Project, Senior Lien Series 2024, (AMT) | 5.500 | 09/01/59 | 8260284 |
| 6030000 | Louisiana Publics Facilities Authority, Louisiana, Revenue Bonds, I-10 Calcasieu River Bridge Public-Private Partnership Project, Senior Lien Series 2024, (AMT) | 5.750 | 09/01/64 | 6349822 |
| 7010000 | Louisiana Publics Facilities Authority, Louisiana, Revenue Bonds, I-10 Calcasieu River Bridge Public-Private Partnership Project, Senior Lien Series 2024, (AMT) | 5.000 | 09/01/66 | 6871402 |
| 1100000 (b) | Plaquemines Port, Louisiana, Harbor and Terminal District Facilities Revenue Bonds NOLA Terminal LLC Project Dock and Wharf Series 2024A | 9.000 | 12/01/44 | 1076901 |
| 500000 (b) | Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics, L.P. Project, Series 2010 | 6.350 | 07/01/40 | 543301 |
| 2930000 (b) | Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics, L.P. Project, Series 2011, (Mandatory Put 6/01/25) | 5.850 | 08/01/41 | 2937811 |
| 1650000 | Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017A-3, (Mandatory Put 7/01/26) | 2.200 | 06/01/37 | 1624768 |
|  | TOTAL LOUISIANA |  |  | 51721990 |

---

20 *See Notes To Financial Statements*

------

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

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

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

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **MAINE - 0.3%** |  |  |  |
| $725000 | (b) | Maine Finance Authority, Solid Waste Disposal Revenue Bonds, Casella Waste Systems, Inc. Project, Series 2024, (AMT), (Mandatory Put 6/01/35) | 4.625% | 12/01/47 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;731903 |
| 4690000 |  | Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2016A | 5.000 | 07/01/46 | 4317704 |
| 4970000 |  | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, MaineHealth Issue, Series 2020A | 4.000 | 07/01/45 | 4563607 |
| 1420000 |  | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Social Series 2021C | 2.300 | 11/15/46 | 915752 |
|  |  | TOTAL MAINE |  |  | 10528966 |
|  |  | **MARYLAND - 1.0%** |  |  |  |
| 10000000 |  | Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017 | 5.000 | 09/01/39 | 9873637 |
| 665000 | (b) | Frederick County, Maryland, Tax Increment and Special Tax Limited Obligation Bonds, Jefferson Technology Park Project, Refunding Series 2020B | 4.625 | 07/01/43 | 633180 |
| 1000000 | (b) | Maryland Economic Development Corporation, Port Facilities Revenue Bonds, Core Natural Resources Inc. Project, Refunding Series 2025, (Mandatory Put 3/27/35) | 5.000 | 07/01/48 | 1011035 |
| 17255000 |  | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical Systems, Series 2025A | 5.250 | 07/01/52 | 18028749 |
| 8500000 |  | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, MedStar Health Issue, Series 2015 | 5.000 | 08/15/42 | 8502524 |
|  |  | TOTAL MARYLAND |  |  | 38049125 |
|  |  | **MASSACHUSETTS - 1.9%** |  |  |  |
| 3613640 | (b),(c) | Massachusetts Development Finance Agency, Health Care Facility Revenue Bonds, Adventcare Project, Series 2007A | 6.750 | 10/15/37 | 36 |
| 1000000 |  | Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Green Bonds, Series 2015D | 5.000 | 07/01/44 | 988533 |
| 1200000 |  | Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Series 2016E | 5.000 | 07/01/35 | 1208229 |
| 5590000 |  | Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Series 2016E | 5.000 | 07/01/37 | 5620877 |
| 5000000 |  | Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Series 2023G | 5.250 | 07/01/52 | 5127554 |
| 4425000 |  | Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center, Green Series 2017F | 4.000 | 07/01/47 | 3861866 |
| 5285000 |  | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2 | 5.000 | 07/01/37 | 5447961 |
| 5000000 |  | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2 | 5.000 | 07/01/38 | 5141010 |
| 5000000 |  | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2 | 5.000 | 07/01/43 | 5071350 |
| 1500000 |  | Massachusetts Development Finance Agency, Revenue Bonds, Emmanuel College, Series 2016A | 5.000 | 10/01/43 | 1433271 |
| 16140000 |  | Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Issue Series 2025N-1 | 5.250 | 07/01/50 | 16826631 |
| 4785000 |  | Massachusetts Development Finance Agency, Revenue Bonds, Wellforce Issue, Series 2019A | 5.000 | 07/01/39 | 4764746 |
| 4500000 |  | Massachusetts Port Authority, Revenue Bonds, Series 2021E, (AMT) | 5.000 | 07/01/46 | 4602544 |
| 13320000 |  | Massachusetts Port Authority, Revenue Bonds, Series 2021E, (AMT) | 5.000 | 07/01/51 | 13554026 |
|  |  | TOTAL MASSACHUSETTS |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73648634 |

---

See Notes To Financial Statements 21

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MICHIGAN - 0.8%** |  |  |  |
| $4035000 | Detroit Downtown Development Authority, Michigan, Tax Increment Revenue Bonds, Catalyst Development Project, Refunding Series 2024 | 5.000% | 07/01/48 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4137304 |
| 3900000 | Gerald R. Ford International Airport Authority, Kent County, Michigan, Revenue Bonds, Limited Tax General Obligation Series 2021, (AMT) | 5.000 | 01/01/46 | 3970033 |
| 3250000 | Great Lakes Water Authority, Michigan, Sewer Disposal System Revenue Bonds, Senior Lien Series 2023C | 5.250 | 07/01/53 | 3469678 |
| 3105000 | Great Lakes Water Authority, Michigan, Water Supply Revenue Bonds, Senior Lien Series 2023B | 5.250 | 07/01/48 | 3325976 |
| 5250000 | Great Lakes Water Authority, Michigan, Water Supply Revenue Bonds, Senior Lien Series 2023B | 5.250 | 07/01/53 | 5604864 |
| 1430000 | Michigan Finance Authority, Hospital Revenue Bonds, Henry Ford Health System, Refunding Series 2016 | 4.000 | 11/15/46 | 1255288 |
| 1115000 (h) | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Social Series 2024A, (UB) | 4.100 | 12/01/39 | 1096183 |
| 2725000 (h) | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Social Series 2024A, (UB) | 4.500 | 12/01/44 | 2682581 |
| 1250000 | Michigan Public Educational Facilities Authority, Limited Obligation Revenue Bonds, Chandler Park Academy Project, Series 2008 | 6.500 | 11/01/35 | 1250446 |
| 1550000 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2023B - AGM Insured, (AMT) | 5.000 | 12/01/33 | 1666257 |
| 1690000 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2023B - AGM Insured, (AMT) | 5.500 | 12/01/41 | 1831886 |
| 1365000 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2023B - AGM Insured, (AMT) | 5.500 | 12/01/43 | 1468804 |
|  | TOTAL MICHIGAN |  |  | 31759300 |
|  | **MINNESOTA - 1.3%** |  |  |  |
| 310000 | Baytown Township, Minnesota Charter School Lease Revenue Bonds, Saint Croix Preparatory Academy, Refunding Series 2016A | 4.000 | 08/01/41 | 274126 |
| 150000 | City of Ham Lake, Minnesota, Charter School Lease Revenue Bonds, DaVinci Academy Project, Series 2016A | 5.000 | 07/01/36 | 143438 |
| 270000 | City of Ham Lake, Minnesota, Charter School Lease Revenue Bonds, DaVinci Academy Project, Series 2016A | 5.000 | 07/01/47 | 239038 |
| 2805000 (b) | Dakota County Community Development Agency, Minnesota, Senior Housing Revenue Bonds, Walker Highview Hills LLC Project, Refunding Series 2016A | 5.000 | 08/01/46 | 2692215 |
| 3000000 | Duluth Economic Development Authority, Minnesota, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2018A | 4.250 | 02/15/48 | 2699577 |
| 3295000 | Forest Lake, Minnesota Charter School Lease Revenue Bonds, North Lakes Academy, Refunding Series 2021A | 5.000 | 07/01/41 | 3035832 |
| 11160000 | Forest Lake, Minnesota Charter School Lease Revenue Bonds, North Lakes Academy, Refunding Series 2021A | 5.000 | 07/01/56 | 9571129 |
| 11605000 | Minnesota Agricultural and Economic Development Board, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2024A | 5.250 | 01/01/54 | 11963275 |
| 500000 | Saint Paul Housing & Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Nova Classical Academy, Series 2016A | 4.125 | 09/01/47 | 436669 |
| 16825000 (b) | Saint Paul Port Authority, Minnesota, Solid Waste Disposal Revenue Bonds, Gerdau Saint Paul Steel Mill Project, Series 2012- 7, (AMT) | 4.500 | 10/01/37 | 15836652 |
| 2500000 (g) | St. Paul Housing and Redevelopment Authority, Minnesota, Hospital Revenue Bonds, HealthEast Inc., Series 2015A, (Pre- refunded 11/15/25) | 5.000 | 11/15/27 | 2530930 |

---

22 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MINNESOTA** (continued) |  |  |  |
| $235000 (g) | St. Paul Housing and Redevelopment Authority, Minnesota, Hospital Revenue Bonds, HealthEast Inc., Series 2015A, (Pre- refunded 11/15/25) | 5.000% | 11/15/44 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237907 |
|  | TOTAL MINNESOTA |  |  | 49660788 |
|  | **MISSISSIPPI - 0.3%** |  |  |  |
| 4500000 (h) | Warren County, Mississippi, Certificates of Participation, Lease Purchase Jail Project Series 2023, (UB) | 6.000 | 09/01/48 | 4978852 |
| 6200000 (h) | Warren County, Mississippi, Certificates of Participation, Lease Purchase Jail Project Series 2023, (UB) | 6.000 | 09/01/53 | 6780527 |
|  | TOTAL MISSISSIPPI |  |  | 11759379 |
|  | **MISSOURI - 2.1%** |  |  |  |
| 3185000 | Bi-State Development Agency, Missouri, Bi-State MetroLink District, St Clair County Metrolink Extension Project Bonds, Refunding Series 2006 - AGM Insured | 5.250 | 07/01/27 | 3346131 |
| 5000000 | Kansas City Industrial Development Authority, Missouri, Airport Special Obligation Bonds, Kansas City International Airport Terminal Modernization Project, Series 2019A, (AMT) | 5.000 | 03/01/39 | 5113446 |
| 18000000 | Kansas City Industrial Development Authority, Missouri, Airport Special Obligation Bonds, Kansas City International Airport Terminal Modernization Project, Series 2019B, (AMT) | 5.000 | 03/01/46 | 18084746 |
| 1650000 (b) | Kansas City Industrial Development Authority, Missouri, Economic Activity Tax Revenue Bonds, Historic Northeast Redevelopment Plan Series 2024A-1 | 5.000 | 06/01/54 | 1570397 |
| 3630000 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, Mercy Health, Series 2014F | 4.000 | 11/15/45 | 3216596 |
| 2000000 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Children's Mercy Hospital, Series 2016 | 4.000 | 05/15/39 | 1931024 |
| 15100000 | Missouri Joint Municipal Electric Utility Commission, Power Project Revenue Bonds, Plum Point Project, Refunding Series 2015A | 4.000 | 01/01/35 | 14985001 |
| 2500000 | Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Convention Center, Expansion & Improvement Projects Series 2020 - AGM Insured | 5.000 | 10/01/40 | 2591344 |
| 8025000 | Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Convention Center, Expansion & Improvement Projects Series 2020 - AGM Insured | 5.000 | 10/01/45 | 8157016 |
| 5000000 | Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Convention Center, Series 2010A - AGC Insured | 0.000 | 07/15/31 | 3905267 |
| 7000000 | Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Convention Center, Series 2010A - AGC Insured | 0.000 | 07/15/32 | 5220123 |
| 6250000 | Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Convention Center, Series 2010A - AGC Insured | 0.000 | 07/15/33 | 4439193 |
| 7000000 | Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Convention Center, Series 2010A - AGC Insured | 0.000 | 07/15/34 | 4729165 |
| 6000000 | Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Convention Center, Series 2010A - AGC Insured | 0.000 | 07/15/35 | 3846770 |
| 2000000 | Saint Louis Municipal Finance Corporation, Missouri, Leasehold Revenue Bonds, Convention Center, Series 2010A - AGC Insured | 0.000 | 07/15/36 | 1215895 |
| 1288000 | Saint Louis, Missouri, Tax Increment Financing Revenue Bonds, Fashion Square Redevelopment Project, Series 2008A | 6.300 | 08/22/26 | 270480 |
| 1267000 | Saint Louis, Missouri, Tax Increment Financing Revenue Notes, Marquette Building Redevelopment Project, Series 2008-A | 6.500 | 01/23/28 | 443450 |
|  | TOTAL MISSOURI |  |  | 83066044 |
|  | **MONTANA - 0.2%** |  |  |  |
| 4385000 | Forsyth, Rosebud County, Montana, Pollution Control Revenue Refunding Bonds, Northwestern Corporation Colstrip Project, Series 2023 | 3.875 | 07/01/28 | 4438777 |
| 1910000 | Montana Facility Finance Authority, Healthcare Facility Revenue Bonds, Kalispell Regional Medical Center, Series 2018B | 5.000 | 07/01/43 | 1929778 |
|  | TOTAL MONTANA |  |  | 6368555 |

---

See Notes To Financial Statements 23

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **NEBRASKA - 0.8%** |  |  |  |
| $7500000 |  | Central Plains Energy Project, Nebraska, Gas Project Revenue Bonds, Project 5, Series 2022-1, (Mandatory Put 10/01/29) | 5.000% | 05/01/53 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7815018 |
| 6500000 | (h) | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Social Series 2024C, (UB) | 4.550 | 09/01/44 | 6423180 |
| 17500000 | (h) | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Social Series 2024C, (UB) | 4.800 | 09/01/54 | 17418376 |
|  |  | TOTAL NEBRASKA |  |  | 31656574 |
|  |  | **NEVADA - 0.1%** |  |  |  |
| 1150000 |  | Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe Regional Healthcare Project, Series 2017A | 5.000 | 09/01/47 | 1154687 |
| 4384055 | (b),(c) | Director of Nevada State Department of Business & Industry, Environmental Improvement Revenue Bonds, Fulcrum Sierra Holdings LLC, Green Series 2019, (AMT) | 5.750 | 02/15/38 | 17975 |
| 3900000 | (b) | Director of Nevada State Department of Business and Industry, Revenue Bonds, Brightline West Passenger Rail Project, Series 2025A, (AMT), (Mandatory Put 1/01/33) | 9.500 | 01/01/65 | 3887335 |
|  |  | TOTAL NEVADA |  |  | 5059997 |
|  |  | **NEW HAMPSHIRE - 0.4%** |  |  |  |
| 4414417 |  | National Finance Authority, New Hampshire, Municipal Certificates Social Series 2023-2 Class A | 3.875 | 01/20/38 | 4173438 |
| 12000000 | (b) | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Covenant Health Group Series 2023 | 4.000 | 07/01/37 | 10742155 |
|  |  | TOTAL NEW HAMPSHIRE |  |  | 14915593 |
|  |  | **NEW JERSEY - 1.4%** |  |  |  |
| 9090000 | (g) | New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2016AAA, (Pre-refunded 12/15/26) | 5.500 | 06/15/29 | 9505752 |
| 5000000 |  | New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2019LLL | 5.000 | 06/15/49 | 5069281 |
| 2255000 |  | New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 2000A & 2000B, (AMT) | 5.625 | 11/15/30 | 2257849 |
| 1000000 |  | New Jersey Educational Facilities Authority, Revenue Bonds, Higher Education Capital Improvement Fund Series 2023A | 5.000 | 09/01/37 | 1083175 |
| 1825000 |  | New Jersey Educational Facilities Authority, Revenue Bonds, Higher Education Capital Improvement Fund Series 2023A | 5.000 | 09/01/39 | 1954075 |
| 2000000 |  | New Jersey Educational Facilities Authority, Revenue Bonds, Higher Education Capital Improvement Fund Series 2023A | 5.000 | 09/01/41 | 2114427 |
| 1200000 |  | New Jersey Educational Facilities Authority, Revenue Bonds, Higher Education Capital Improvement Fund Series 2023A | 5.000 | 09/01/42 | 1262845 |
| 1265000 |  | New Jersey Educational Facilities Authority, Revenue Bonds, Higher Education Capital Improvement Fund Series 2023A | 5.000 | 09/01/43 | 1326591 |
| 1250000 |  | New Jersey Health Care Facilities Authority, Revenue Bonds, Atlanticare Health System Obligated Group Issue, Series 2021 - BAM Insured | 3.000 | 07/01/38 | 1122912 |
| 4110000 |  | New Jersey Health Care Facilities Authority, Revenue Bonds, Atlanticare Health System Obligated Group Issue, Series 2021 - BAM Insured | 3.000 | 07/01/41 | 3523110 |
| 15300000 |  | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2009A | 0.000 | 12/15/39 | 8064596 |
| 4500000 |  | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2015AA | 5.250 | 06/15/41 | 4504221 |
| 5500000 |  | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019BB | 5.000 | 06/15/44 | 5582612 |
| 4000000 | (g) | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019BB, (Pre-refunded 12/15/28) | 5.000 | 06/15/50 | 4312628 |
| 3175000 |  | New Jersey Turnpike Authority, Revenue Bonds, Series 2005A - AGM Insured | 5.250 | 01/01/26 | 3232414 |
|  |  | TOTAL NEW JERSEY |  |  | 54916488 |
|  |  | **NEW MEXICO - 0.0%** |  |  |  |
| 990000 |  | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2021C | 2.350 | 07/01/51 | 604213 |
|  |  | TOTAL NEW MEXICO |  |  | 604213 |

---

24 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK - 14.2%** |  |  |  |
| $1835000 | Babylon Local Development Corporation II, New York, Education Revenue Bonds, The Academy Charter School Project, Series 2023A | 6.400% | 02/01/43 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1857032 |
| 2710000 | Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Catholic Health System, Inc. Project, Series 2015 | 5.250 | 07/01/35 | 2671801 |
| 250000 | Buffalo and Erie County Industrial Land Development Corporation, New York, Revenue Bonds, Charter School for Applied Technologies, Series 2017A | 5.000 | 06/01/35 | 253838 |
| 1790000 (b) | Build NYC Resource Corporation, New York, Revenue Bonds, Family Life Academy Charter School, Series 2020A-1 | 5.250 | 06/01/40 | 1727244 |
| 4800000 (b) | Build NYC Resource Corporation, New York, Revenue Bonds, Family Life Academy Charter School, Series 2020A-1 | 5.500 | 06/01/55 | 4370718 |
| 1300000 (b) | Build NYC Resource Corporation, New York, Revenue Bonds, Family Life Academy Charter School, Series 2020C-1 | 5.000 | 06/01/40 | 1221495 |
| 3035000 (b) | Build NYC Resource Corporation, New York, Revenue Bonds, Family Life Academy Charter School, Series 2020C-1 | 5.000 | 06/01/55 | 2556648 |
| 8145000 | 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 | 8144589 |
| 100000 (b) | Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017 | 5.000 | 12/01/34 | 97762 |
| 300000 (b) | Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017 | 5.000 | 12/01/36 | 288150 |
| 1520000 | Dormitory Authority of the State of New York, Revenue Bonds, White Plains Hospital, Series 2024 | 5.250 | 10/01/49 | 1551011 |
| 5000000 | Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose, Series 2018A | 5.000 | 03/15/40 | 5181923 |
| 7395000 | Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2017A Group C | 5.000 | 03/15/41 | 7518161 |
| 23820000 (h) | Dormitory Authority of the State of New York, State Sales Tax Revenue Bonds, Series 2024A, (UB) | 5.000 | 03/15/55 | 24718988 |
| 7885000 | Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest Systems, Inc. Project, Series 2016B | 4.000 | 07/01/41 | 7256222 |
| 405000 | Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Refunding Series 2020B | 4.760 | 02/01/27 | 401758 |
| 1255000 | Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Refunding Series 2020B | 5.570 | 02/01/41 | 1187843 |
| 1365000 | Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Series 2017A | 6.240 | 02/01/47 | 1362611 |
| 1000000 | Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Series 2020A | 5.530 | 02/01/40 | 950359 |
| 455000 | Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Series 2021A | 4.050 | 02/01/31 | 427782 |
| 885000 | Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Series 2021A | 4.450 | 02/01/41 | 730065 |
| 1560000 | Hempstead Town Local Development Corporation, New York, Education Revenue Bonds, The Academy Charter School Project, Series 2021A | 4.600 | 02/01/51 | 1198225 |
| 6500000 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2016B | 5.000 | 09/01/41 | 6625517 |
| 10000000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Green Climate Bond Certified Series 2020C-1 | 4.750 | 11/15/45 | 10035858 |
| 11000000 (h) | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Green Climate Bond Certified Series 2020C-1, (UB) | 5.250 | 11/15/55 | 11234261 |
| 7040000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Green Refunding Series 2024B | 4.000 | 11/15/43 | 6419775 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **25** |

---

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK** (continued) |  |  |  |
| $2550000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Green Refunding Series 2024B | 4.000% | 11/15/44 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2315675 |
| 5500000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Green Refunding Series 2025A | 5.000 | 11/15/44 | 5688081 |
| 2000000 | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Development Series 2024A-1 | 4.550 | 11/01/44 | 1983408 |
| 2350000 (h) | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Development Series 2024A-1, (UB) | 4.750 | 11/01/54 | 2344225 |
| 3040000 (h) | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Development Series 2024B-1-A, (UB) | 4.650 | 11/01/49 | 3002407 |
| 1585000 (h) | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Development Series 2024B-1-A, (UB) | 4.750 | 11/01/54 | 1586324 |
| 750000 (b) | New York City Housing Development Corporation, New York, Multi-Family Mortgage Revenue Bonds, 8 Spruce Street, Class F Series 2024 | 5.250 | 12/15/31 | 763912 |
| 655000 | New York City Housing Development Corporation, New York, Multi-Family Mortgage Revenue Bonds, 8 Spruce Street, Taxable Class E Series 2024 | 4.375 | 12/15/31 | 664082 |
| 3000000 (c) | New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx Parking Development Company, LLC Project, Series 2007 | 2.300 | 10/01/37 | 1920000 |
| 1000000 (c) | New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bronx Parking Development Company, LLC Project, Series 2007 | 2.350 | 10/01/46 | 640000 |
| 10085000 | New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal 2019 Subseries S-1 | 5.000 | 07/15/43 | 10254316 |
| 6110000 | New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2015S-2 | 5.000 | 07/15/40 | 6132898 |
| 15685000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2018 Series A-3 | 5.000 | 08/01/41 | 16060193 |
| 2950000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2023F-1 | 5.250 | 02/01/40 | 3209428 |
| 7540000 | New York City, New York, General Obligation Bonds, Fiscal 2021 Series C | 5.000 | 08/01/43 | 7809551 |
| 6700000 | New York City, New York, General Obligation Bonds, Fiscal 2022 Series D-1 | 5.250 | 05/01/42 | 7160883 |
| 1455000 | New York City, New York, General Obligation Bonds, Fiscal 2024 Series A | 5.000 | 08/01/41 | 1554294 |
| 2570000 | New York City, New York, General Obligation Bonds, Fiscal 2024 Series A | 5.000 | 08/01/42 | 2726192 |
| 1250000 | New York City, New York, General Obligation Bonds, Fiscal 2024 Series A | 5.000 | 08/01/43 | 1318487 |
| 9895000 | New York City, New York, General Obligation Bonds, Fiscal 2024 Series A | 5.000 | 08/01/44 | 10386900 |
| 3650000 | New York City, New York, General Obligation Bonds, Fiscal 2024 Series A | 5.000 | 08/01/45 | 3814310 |
| 4590000 (h) | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Social Series 258, (UB) | 4.450 | 10/01/44 | 4489498 |
| 5505000 (h) | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Social Series 258, (UB) | 4.600 | 10/01/49 | 5410215 |
| 4675000 (h) | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Social Series 258, (UB) | 4.650 | 10/01/54 | 4600928 |
| 1000000 | New York State Power Authority, Green Transmission Project Revenue Bonds, Green Series 2023A - AGM Insured | 5.250 | 11/15/40 | 1113461 |
| 1000000 | New York State Power Authority, Green Transmission Project Revenue Bonds, Green Series 2023A - AGM Insured | 5.250 | 11/15/41 | 1105108 |
| 500000 | New York State Power Authority, Green Transmission Project Revenue Bonds, Green Series 2023A - AGM Insured | 5.250 | 11/15/42 | 549314 |
| 16000000 | New York State Thruway Authority, State Personal Income Tax Revenue Bonds, Bidding Group 1 Series 2022A | 5.000 | 03/15/41 | 17072227 |

---

26 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK** (continued) |  |  |  |
| $5615000 | New York State Thruway Authority, State Personal Income Tax Revenue Bonds, Bidding Group 1 Series 2022A | 5.000% | 03/15/42 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5949273 |
| 10450000 | New York State Urban Development Corporation, State Sales Tax Revenue Bonds, Empire Bidding Group 4 Series 2023A | 5.000 | 03/15/42 | 11149968 |
| 9570000 | New York State Urban Development Corporation, State Sales Tax Revenue Bonds, Empire Bidding Group 4 Series 2023A | 5.000 | 03/15/44 | 10109517 |
| 1375000 | New York Transportation Development Corporation, New York, Facility Revenue Bonds, Thruway Service Areas Project, Series 2021, (AMT) | 4.000 | 10/31/41 | 1218764 |
| 8120000 | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A - AGM Insured, (AMT) | 4.000 | 07/01/36 | 7951071 |
| 25925000 | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, (AMT) | 5.000 | 07/01/41 | 25928440 |
| 3210000 | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, (AMT) | 5.000 | 07/01/46 | 3190908 |
| 8045000 | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, (AMT) | 5.250 | 01/01/50 | 8044724 |
| 2870000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, American Airlines, Inc. John F Kennedy International Airport Project, Series 2020, (AMT) | 5.250 | 08/01/31 | 2973130 |
| 9275000 | 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 | 9574040 |
| 9765000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, John F Kennedy International Airport New Terminal 1 Project, Green Series 2024, (AMT) | 5.250 | 06/30/49 | 9988592 |
| 11690000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, John F Kennedy International Airport New Terminal 1 Project, Green Series 2024, (AMT) | 5.500 | 06/30/54 | 12091575 |
| 2000000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, New Terminal 1 John F Kennedy International Airport Project, Green Series 2023, (AMT) | 5.500 | 06/30/38 | 2136575 |
| 780000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, New Terminal 1 John F Kennedy International Airport Project, Green Series 2023 - AGM Insured, (AMT) | 5.500 | 06/30/42 | 826811 |
| 16725000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, New Terminal 1 John F Kennedy International Airport Project, Green Series 2023 - AGM Insured, (AMT) | 5.000 | 06/30/49 | 16832614 |
| 3220000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, New Terminal 1 John F Kennedy International Airport Project, Green Series 2023, (AMT) | 6.000 | 06/30/54 | 3425155 |
| 8115000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, New Terminal 1 John F Kennedy International Airport Project, Green Series 2023 - AGM Insured, (AMT) | 5.125 | 06/30/60 | 8165999 |
| 12640000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, New Terminal 1 John F Kennedy International Airport Project, Green Series 2023, (AMT) | 5.375 | 06/30/60 | 12860011 |
| 1100000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Terminal 4 John F Kennedy International Airport Project, Series 2020C | 4.000 | 12/01/41 | 1024057 |
| 10000000 | 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 | 01/01/32 | 10245636 |
| 14690000 | 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 | 10/01/35 | 15129225 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **27** |

---

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK** (continued) |  |  |  |
| $4000000 | 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 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4069200 |
| 6200000 | 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 | 6814066 |
| 10965000 | New York Transportation Development Corporation, Special Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment Project, Series 2023, (AMT) | 5.625 | 04/01/40 | 11519898 |
| 1750000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Forty Second Series 2023, (AMT) | 5.000 | 12/01/36 | 1847946 |
| 2000000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Forty Second Series 2023, (AMT) | 5.000 | 12/01/38 | 2088923 |
| 6505000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Forty Second Series 2023, (AMT) | 5.000 | 12/01/40 | 6766930 |
| 1625000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Thirty-Eighth Series 2023, (AMT) | 5.000 | 07/15/40 | 1687724 |
| 7500000 | Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding Senior Lien Green Climate Bond Certified Series 2023C | 5.000 | 11/15/37 | 8208368 |
| 2140000 | Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding Senior Lien Green Climate Bond Certified Series 2023C | 5.250 | 11/15/39 | 2370378 |
| 7340000 | Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding Senior Lien Green Climate Bond Certified Series 2023C | 5.250 | 11/15/40 | 8104366 |
| 10000000 | Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding Senior Lien Green Climate Bond Certified Series 2023C | 5.000 | 11/15/41 | 10755181 |
| 6465000 | Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding Senior Lien Green Climate Bond Certified Series 2023C | 5.250 | 11/15/42 | 7031651 |
| 2050000 | Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding Senior Lien Green Climate Bond Certified Series 2023C | 5.000 | 11/15/43 | 2173187 |
| 2140000 | Triborough Bridge and Tunnel Authority, New York, Real Estate Transfer Tax Revenue Bonds, MTA Bridges and Tunnels, TBTA Capital Lockbox Fund, Series 2025A | 5.000 | 12/01/46 | 2229679 |
| 4750000 | Triborough Bridge and Tunnel Authority, New York, Real Estate Transfer Tax Revenue Bonds, MTA Bridges and Tunnels, TBTA Capital Lockbox Fund, Series 2025A | 5.250 | 12/01/47 | 5036905 |
| 8165000 | Triborough Bridge and Tunnel Authority, New York, Real Estate Transfer Tax Revenue Bonds, MTA Bridges and Tunnels, TBTA Capital Lockbox Fund, Series 2025A | 5.250 | 12/01/48 | 8656436 |
| 6335000 | Triborough Bridge and Tunnel Authority, New York, Real Estate Transfer Tax Revenue Bonds, MTA Bridges and Tunnels, TBTA Capital Lockbox Fund, Series 2025A | 5.000 | 12/01/50 | 6572701 |
| 19250000 | Triborough Bridge and Tunnel Authority, New York, Real Estate Transfer Tax Revenue Bonds, MTA Bridges and Tunnels, TBTA Capital Lockbox Fund, Series 2025A | 5.250 | 12/01/54 | 20332652 |
| 2370000 (h) | Triborough Bridge and Tunnel Authority, New York, Real Estate Transfer Tax Revenue Bonds, MTA Bridges and Tunnels, TBTA Capital Lockbox Fund, Series 2025A, (UB) | 5.250 | 12/01/54 | 2503293 |
| 15440000 | Triborough Bridge and Tunnel Authority, New York, Real Estate Transfer Tax Revenue Bonds, MTA Bridges and Tunnels, TBTA Capital Lockbox Fund, Series 2025A | 5.500 | 12/01/59 | 16602592 |
| 5000000 | TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006 | 5.000 | 06/01/45 | 4617054 |
| 1760000 | Westchester County Local Development Corporation, New York, Revenue Bonds, Westchester Medical Center Obligated Group Project, Series 2023 | 6.250 | 11/01/52 | 1927400 |
|  | TOTAL NEW YORK |  |  | 556398568 |

---

28 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NORTH CAROLINA - 0.0%** |  |  |  |
| $1000000 | North Carolina Medical Care Commission, Retirement Facilities First Mortgage Revenue Bonds, The Forest at Duke, Inc., Series 2021 | 4.000% | 09/01/46 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;851855 |
|  | TOTAL NORTH CAROLINA |  |  | 851855 |
|  | **NORTH DAKOTA - 0.4%** |  |  |  |
| 10770000 (h) | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Social Series 2024A, (UB) | 4.550 | 07/01/44 | 10677066 |
| 4000000 | North Dakota Housing Finance Agency, Home Mortgage Program Revenue Bonds, Social Series 2024D | 4.500 | 07/01/44 | 3937682 |
|  | TOTAL NORTH DAKOTA |  |  | 14614748 |
|  | **OHIO - 1.2%** |  |  |  |
| 5195000 | Allen County, Ohio, Hospital Facilities Revenue Bonds, Bon Secours Mercy Health, Inc., Series 2020A | 4.000 | 12/01/40 | 4968272 |
| 15000000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Capital Appreciation Series 2020B-3 Class 2 | 0.000 | 06/01/57 | 1494351 |
| 1860000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020B-2 Class 2 | 5.000 | 06/01/55 | 1641827 |
| 3770000 | Butler County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2016 | 5.000 | 11/15/45 | 3708160 |
| 2625000 (e) | Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2025A | 5.500 | 08/01/41 | 2798021 |
| 1500000 (e) | Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2025A | 5.500 | 08/01/42 | 1585929 |
| 1475000 (e) | Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC Health, Series 2025A | 5.500 | 08/01/51 | 1526465 |
| 3350000 | Montgomery County, Ohio, Health Care Facilities Revenue Bonds, Solvita Project Refunding and Improvement Series 2024 | 5.250 | 09/01/54 | 3395653 |
| 5000000 (b) | Ohio Air Quality Development Authority, Ohio, Exempt Facilities Revenue Bonds, AMG Vanadium Project, Series 2019, (AMT) | 5.000 | 07/01/49 | 4546542 |
| 6205000 | Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009D | 3.375 | 08/01/29 | 6081395 |
| 990000 (h) | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Social Series 2024A, (UB) | 4.350 | 09/01/44 | 960547 |
| 2075000 (h) | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Social Series 2024A, (UB) | 4.650 | 09/01/54 | 2032676 |
| 3750000 | Ohio State, Private Activity Bonds, Portsmouth Gateway Group, LLC - Borrower, Portsmouth Bypass Project, Series 2015 - AGM Insured, (AMT) | 5.000 | 12/31/39 | 3759177 |
| 8585000 | Ohio Water Development Authority, Pollution Control Revenue Refunding Bonds, FirstEnergy Nuclear Generating Corporation Project, Series 2009A | 4.750 | 06/01/33 | 8924525 |
|  | TOTAL OHIO |  |  | 47423540 |
|  | **OKLAHOMA - 1.2%** |  |  |  |
| 1470000 | Oklahoma City Airport Trust, Oklahoma, Revenue Bonds, Junior Lien Thirty-Third Series 2018, (AMT) | 5.000 | 07/01/47 | 1472528 |
| 8550000 | Oklahoma County, Oklahoma, Finance Authority, Educational Facilities Lease Revenue Bonds, Choctaw-Nicoma Park Public Schools Project, Series 2023 | 5.000 | 09/01/41 | 8946034 |
| 14195000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B | 5.500 | 08/15/52 | 14398822 |
| 12200000 | Oklahoma State Turnpike Authority, Turnpike System Revenue Bonds, Second Senior Series 2025A | 5.250 | 01/01/50 | 13113566 |
| 9650000 | Oklahoma State Turnpike Authority, Turnpike System Revenue Bonds, Second Senior Series 2025A | 5.500 | 01/01/54 | 10518999 |
|  | TOTAL OKLAHOMA |  |  | 48449949 |

---

See Notes To Financial Statements 29

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **OREGON - 0.2%** |  |  |  |
| $2910000 |  | Astoria Hospital Facilities Authority, Oregon, Hospital Revenue Bonds, Columbia Memorial Hospital Project, Series 2024 | 5.250% | 08/01/54 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2978841 |
| 175000 |  | Oregon Housing and Community Services Department, Multifamily Housing Revenue Bonds, Refunding Series 2010A, (AMT) | 5.150 | 07/01/42 | 177497 |
| 4100000 | (b) | Port of Morrow, Morrow County Oregon, Full Faith and Credit Obligations, Series 2024A | 5.150 | 10/01/26 | 4103583 |
|  |  | TOTAL OREGON |  |  | 7259921 |
|  |  | **PENNSYLVANIA - 4.8%** |  |  |  |
| 315000 |  | Allegheny Country Industrial Development Authority, Pennsylvania, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Series 2012, (AMT) | 5.750 | 08/01/42 | 315272 |
| 1000000 |  | Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Series 2023A - AGM Insured, (AMT) | 5.250 | 01/01/36 | 1085844 |
| 1000000 |  | Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Series 2023A - AGM Insured, (AMT) | 5.250 | 01/01/37 | 1079842 |
| 1000000 |  | Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Series 2023A - AGM Insured, (AMT) | 5.250 | 01/01/38 | 1073496 |
| 1250000 |  | Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Series 2023A - AGM Insured, (AMT) | 5.250 | 01/01/40 | 1325916 |
| 2000000 |  | Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Series 2023A - AGM Insured, (AMT) | 5.500 | 01/01/41 | 2152924 |
| 2155000 |  | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, University of Pittsburgh Medical Center, Series 2019A | 4.000 | 07/15/37 | 2123750 |
| 10665000 |  | Beaver County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, FirstEnergy Generation Project, Refunding Series 2006A, (Mandatory Put 7/01/33) | 4.750 | 01/01/35 | 11028783 |
| 8775000 |  | Bucks County Industrial Development Authority, Pennsylvania, Hospital Revenue Bonds, Saint Luke's University Health Network Project, Series 2021 - AGM Insured | 3.000 | 08/15/53 | 6446104 |
| 4860000 |  | Central Bradford Progress Authority, Pennsylvania, Revenue Bonds, Guthrie Health, Series 2021B - BAM Insured | 3.000 | 12/01/44 | 3958804 |
| 6300000 |  | Central Bradford Progress Authority, Pennsylvania, Revenue Bonds, Guthrie Health, Series 2021B - BAM Insured | 4.000 | 12/01/51 | 5862528 |
| 520000 |  | Cumberland County Municipal Authority, Pennsylvania, Revenue Bonds, Diakon Lutheran Social Ministries Project, Series 2015 | 5.000 | 01/01/38 | 520079 |
| 9000000 |  | Geisinger Authority, Montour County, Pennsylvania, Health System Revenue Bonds, Geisinger Health System, Series 2017A-2 | 5.000 | 02/15/39 | 9132443 |
| 1200000 |  | Lancaster Municipal Authority, Pennsylvania, Healthcare Facilities Revenue Bonds, Garden Spot Village Project Series 2024A | 5.000 | 05/01/44 | 1239015 |
| 4000000 |  | Montgomery County Higher Education and Health Authority, Pennsylvania, Revenue Bonds, Thomas Jefferson University, Series 2018A | 4.000 | 09/01/36 | 3919740 |
| 5445000 |  | Montgomery County Higher Education and Health Authority, Pennsylvania, Revenue Bonds, Thomas Jefferson University, Series 2018A | 5.000 | 09/01/43 | 5534882 |
| 2000000 |  | Montgomery County Higher Education and Health Authority, Pennsylvania, Revenue Bonds, Thomas Jefferson University, Series 2019 | 4.000 | 09/01/37 | 1941871 |
| 8750000 |  | Northampton County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, Saint Luke's University Health Network Project, Series 2016A | 4.000 | 08/15/34 | 8602795 |
| 2410000 | (b),(c),(d) | Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless Hills LLC Project, Series 2020A-1 | 10.000 | 12/01/40 | 241 |

---

30 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **PENNSYLVANIA** (continued) |  |  |  |
| $2410000 | (b),(c),(d) | Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless Hills LLC Project, Series 2020A-2, (AMT) | 10.000% | 12/01/40 | $241 |
| 1650000 |  | Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, National Gypsum Company, Refunding Series 2014, (AMT) | 5.500 | 11/01/44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1655679 |
| 1000000 |  | Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue Bonds, PPL Energy Supply, LLC Project, Refunding Series 2009C, (Mandatory Put 6/01/27) | 5.250 | 12/01/37 | 1008141 |
| 5000000 |  | Pennsylvania Economic Development Financing Authority, Pennsylvania, Private Activity Revenue Bonds, The PennDOT Major Bridges Package One Project, Series 2022, (AMT) | 5.500 | 06/30/40 | 5294044 |
| 3750000 |  | Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds, Pennsylvania Rapid Bridge Replacement Project, Series 2015, (AMT) | 5.000 | 12/31/38 | 3771328 |
| 4000000 |  | Pennsylvania Economic Development Financing Authority, Revenue Bonds, University of Pittsburgh Medical Center, Series 2017A | 4.000 | 11/15/42 | 3755145 |
| 3865000 |  | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, LaSalle University, Series 2012 | 5.000 | 05/01/37 | 3089851 |
| 7130000 | (h),(i) | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2023-143A, (UB) | 5.450 | 04/01/51 | 7230867 |
| 6780000 | (h) | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2024-144A, (UB) | 4.450 | 10/01/44 | 6623073 |
| 2730000 | (h) | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2024-144A, (UB) | 4.600 | 10/01/49 | 2684932 |
| 1310000 | (h) | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2024-144A, (UB) | 4.650 | 10/01/51 | 1289306 |
| 4545000 | (h) | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2024-145A, (UB) | 4.750 | 10/01/49 | 4512879 |
| 4545000 | (h) | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2024-145A, (UB) | 4.800 | 10/01/51 | 4510965 |
| 7405000 |  | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1 | 5.000 | 12/01/45 | 7431085 |
| 140000 |  | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2022B | 5.250 | 12/01/41 | 152421 |
| 1490000 |  | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2022B | 5.250 | 12/01/42 | 1608928 |
| 15000000 |  | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2009C - AGM Insured | 6.250 | 06/01/33 | 15480407 |
| 25430000 |  | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2017B-1 | 5.000 | 06/01/42 | 25791022 |
| 1500000 |  | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Subordinate Series 2021A | 3.000 | 12/01/42 | 1217608 |
| 2500000 |  | Philadelphia Authority for Industrial Development, Pennsylvania, City Service Agreement Revenue Bonds, Series 2018 | 5.000 | 05/01/36 | 2589472 |
| 2250000 |  | Philadelphia Authority for Industrial Development, Pennsylvania, City Service Agreement Revenue Bonds, Series 2018 | 5.000 | 05/01/37 | 2325139 |
| 1000000 |  | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, La Salle University, Series 2017 | 4.000 | 05/01/42 | 656919 |
| 2230000 | (b) | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Mariana Bracetti Academy Project, Series 2020A | 5.375 | 06/15/50 | 2080725 |
| 2000000 |  | Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series of 2017 | 5.000 | 07/01/29 | 2041256 |
| 7450000 |  | Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series of 2017 | 5.000 | 07/01/30 | 7587956 |
| 1000000 |  | Philadelphia Hospitals and Higher Education Facilities Authority, Pennsylvania, Hospital Revenue Bonds, Temple University Health System Obligated Group, Series of 2017 | 5.000 | 07/01/31 | 1016606 |
| 3315000 |  | Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2017B, (AMT) | 5.000 | 07/01/33 | 3385650 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **31** |

---

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **PENNSYLVANIA** (continued) |  |  |  |
| $2595000 | The Hospitals and Higher Education Facilities Authority of Philadelphia, Pennsylvania, Hospital Revenue Bonds Temple University Health System Obligated Group Series of 2017 | 5.000% | 07/01/33 | $2627988 |
|  | TOTAL PENNSYLVANIA |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;188763962 |
|  | **PUERTO RICO - 1.9%** |  |  |  |
| 2000000 (b) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2021B | 4.000 | 07/01/42 | 1797154 |
| 7164000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 4.550 | 07/01/40 | 7098707 |
| 118500000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/51 | 28772523 |
| 15339000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 5.000 | 07/01/58 | 15129382 |
| 1000000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured Cofina Project Series 2019A-2A | 4.550 | 07/01/40 | 990886 |
| 4000000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2 | 4.784 | 07/01/58 | 3813598 |
| 14500000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 4.000 | 07/01/37 | 13721048 |
| 5000000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 4.000 | 07/01/41 | 4578123 |
|  | TOTAL PUERTO RICO |  |  | 75901421 |
|  | **SOUTH CAROLINA - 0.3%** |  |  |  |
| 1485000 | South Carolina Jobs-Economic Development Authority, Health Care Facilities Revenue Bonds, Novant Health Group, Series 2024A | 5.500 | 11/01/48 | 1618474 |
| 1660000 | South Carolina Jobs-Economic Development Authority, Health Care Facilities Revenue Bonds, Novant Health Group, Series 2024A | 5.500 | 11/01/49 | 1808255 |
| 3650000 | South Carolina Jobs-Economic Development Authority, Health Care Facilities Revenue Bonds, Novant Health Group, Series 2024A | 5.500 | 11/01/50 | 3955563 |
| 1400000 | South Carolina Jobs-Economic Development Authority, Health Care Facilities Revenue Bonds, Novant Health Group, Series 2024A | 5.500 | 11/01/54 | 1494648 |
| 2500000 | South Carolina Jobs-Economic Development Authority, Hospital Revenue Bonds, McLeod Health Projects, Refunding & Improvement Series 2018 | 5.000 | 11/01/43 | 2532343 |
|  | TOTAL SOUTH CAROLINA |  |  | 11409283 |
|  | **SOUTH DAKOTA - 0.0%** |  |  |  |
| 910000 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Sanford Health, Series 2015 | 5.000 | 11/01/45 | 912814 |
|  | TOTAL SOUTH DAKOTA |  |  | 912814 |
|  | **TENNESSEE - 2.4%** |  |  |  |
| 2500000 | Bristol Industrial Development Board, Tennessee, Tax Increment Revenue Bonds, Pinnacle Project, Series 2016 | 5.625 | 06/01/35 | 2263648 |
| 4000000 | Chattanooga Health, Educational and Housing Facility Board, Tennessee, Health System Revenue Bonds, Erlanger Health Series 2024 | 5.250 | 12/01/49 | 4187064 |
| 510000 | DeKalb Utility District, DeKalb County, Tennessee, Waterworks Revenue Bonds, Refunding Series 2017 | 3.500 | 04/01/42 | 421437 |
| 4200000 | Greeneville Health and Educational Facilities Board, Tennessee, Hospital Revenue Bonds, Ballad Health, Series 2018A | 5.000 | 07/01/36 | 4315752 |
| 4815000 | Hendersonville Industrial Development Board, Tennessee, Multifamily Housing Revenue Bonds, Hickory Pointe Project, Series 2010 | 4.875 | 12/01/25 | 4868683 |
| 145000 (g) | Jackson, Tennessee, Hospital Revenue Bonds, Jackson-Madison County General Hospital Project, Series 2018A, (Pre-refunded 10/01/28) | 5.000 | 04/01/41 | 154758 |
| 2740000 | Jackson, Tennessee, Hospital Revenue Bonds, Jackson-Madison County General Hospital Project, Series 2018A | 5.000 | 04/01/41 | 2778828 |

---

32 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TENNESSEE** (continued) |  |  |  |
| $1035000 (g) | Johnson City Health and Educational Facilities Board, Tennessee, Hospital Revenue Refunding and Improvement Bonds, Johnson City Medical Center, Series 1998C - NPFG Insured, (ETM) | 5.125% | 07/01/25 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1045056 |
| 9570000 (g) | Johnson City Health and Educational Facilities Board, Tennessee, Hospital Revenue Refunding and Improvement Bonds, Johnson City Medical Center, Series 1998C - NPFG Insured, (ETM) | 5.250 | 07/01/28 | 9882476 |
| 2000000 | Knox County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, University Health System, Inc., Series 2017 | 4.000 | 04/01/36 | 1809756 |
| 310000 | Knox County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, University Health System, Inc., Series 2017 | 5.000 | 04/01/36 | 311279 |
| 2955000 | Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, Covenant Health, Refunding Series 2016A | 5.000 | 01/01/36 | 3007679 |
| 5000000 | Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, Covenant Health, Refunding Series 2016A | 5.000 | 01/01/42 | 5048454 |
| 130000 (c) | Memphis/Shelby County Economic Development Growth Engine Industrial Development Board, Tennessee, Tax Increment Revenue Bonds, Graceland Project, Senior Series 2017A | 4.750 | 07/01/27 | 117410 |
| 2930000 | Metropolitan Government of Nashville and Davidson County Sports Authority, Tennessee, Revenue Bonds, Stadium Project, Subordinate Senior Series 2023A - AGM Insured | 5.000 | 07/01/38 | 3191115 |
| 2500000 | Metropolitan Government of Nashville and Davidson County Sports Authority, Tennessee, Revenue Bonds, Stadium Project, Subordinate Senior Series 2023A - AGM Insured | 5.000 | 07/01/39 | 2707613 |
| 4000000 | Metropolitan Government of Nashville and Davidson County Sports Authority, Tennessee, Revenue Bonds, Stadium Project, Subordinate Senior Series 2023A - AGM Insured | 5.000 | 07/01/42 | 4244144 |
| 1320000 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Belmont University, Series 2023 | 5.000 | 05/01/42 | 1380930 |
| 2000000 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Belmont University, Series 2023 | 5.000 | 05/01/43 | 2085241 |
| 515000 (b) | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Rocketship Education Project, Series 2017E | 5.375 | 06/01/52 | 495280 |
| 3965000 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University Medical Center, Series 2016A | 5.000 | 07/01/40 | 3980739 |
| 385000 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University Medical Center, Series 2017A | 5.000 | 07/01/48 | 387649 |
| 10805000 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University, Series 2023A | 5.000 | 07/01/28 | 11461544 |
| 11625000 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University, Series 2023A | 5.000 | 07/01/33 | 12928641 |
| 490000 | Metropolitan Nashville Airport Authority, Tennessee, Special Facility Revenue Bonds, Aero Nashville LLC Project, Refunding Series 2010 | 5.200 | 07/01/26 | 490947 |
| 460000 (b) | Nashville Metropolitan Development and Housing Agency, Tennessee, Tax increment Bonds, Fifth & Broadway Development Project, Series 2018 | 4.500 | 06/01/28 | 463133 |
| 570000 (b) | Nashville Metropolitan Development and Housing Agency, Tennessee, Tax increment Bonds, Fifth & Broadway Development Project, Series 2018 | 5.125 | 06/01/36 | 575712 |
| 2100000 | The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006B | 5.625 | 09/01/26 | 2156125 |
| 5090000 | The Tennessee Energy Acquisition Corporation, Gas Revenue Bonds, Series 2006C | 5.000 | 02/01/27 | 5178145 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **33** |

---

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TENNESSEE** (continued) |  |  |  |
| $500000 | West Knox Utility District of Knox County, Tennessee, Water and Sewer Revenue Bonds, Refunding & Improvement Series 2016 | 5.000% | 06/01/41 | $500117 |
|  | TOTAL TENNESSEE |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92439355 |
|  | **TEXAS - 4.3%** |  |  |  |
| 400000 (b) | Buda, Texas, Special Assessment Revenue Bonds, Persimmon Public improvement District Improvement Area 1 Project, Series 2025 | 6.000 | 09/01/55 | 389346 |
| 1700000 (b) | Buda, Texas, Special Assessment Revenue Bonds, Persimmon Public improvement District Major Improvement Area Project, Series 2025 | 6.625 | 09/01/45 | 1676758 |
| 3600000 | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien Series 2020E | 5.000 | 01/01/45 | 3711774 |
| 8275000 | Chambers County Justice Center Public Facilities Corporation, Texas, Lease Revenue Bonds, Series 2024 | 5.500 | 06/01/49 | 8772165 |
| 10275000 | Chambers County Justice Center Public Facilities Corporation, Texas, Lease Revenue Bonds, Series 2024 | 5.500 | 06/01/55 | 10829925 |
| 5500000 | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2014A | 4.250 | 12/01/34 | 5406476 |
| 9700000 | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Uplift Education Charter School, Series 2015A | 5.000 | 12/01/50 | 9398436 |
| 300000 (b) | Clifton Higher Education Finance Corporation, Texas, Education Revenue Bonds, Valor Education Foundation, Series 2024A | 5.750 | 06/15/44 | 294998 |
| 230000 | Dallas Fort Worth International Airport, Texas, Joint Revenue Bonds Refunding Series 2023C, (AMT) | 5.000 | 11/01/27 | 239550 |
| 2645000 | Dallas, Texas, General Obligation Bonds, Refunding and Improvement Series 2023A | 5.000 | 02/15/42 | 2803894 |
| 1000000 (b) | Denton County, Texas, Special Assessment Revenue Bonds, Green Meadows Public Improvement District Major Improvement Area Project, Series 2025 | 5.875 | 12/31/45 | 981218 |
| 700000 (b) | Denton County, Texas, Special Assessment Revenue Bonds, Green Meadows Public Improvement District, Improvement Area 1 Project, Series 2025 | 5.625 | 12/31/55 | 690844 |
| 2970000 | Elgin, Bastrop and Travis Counties, Texas, Certificates of Participation, Combination Tax Tax Increment Reinvestment Zone 1, Subordinate Lien Series 2021A - BAM Insured | 4.000 | 07/15/40 | 2795512 |
| 2000000 | Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012B | 4.750 | 11/01/42 | 1965603 |
| 795000 | Galveston, Texas, Wharves and Terminal First Lien Revenue Bonds, Series 2023, (AMT) | 5.250 | 08/01/33 | 853842 |
| 1185000 | Galveston, Texas, Wharves and Terminal First Lien Revenue Bonds, Series 2023, (AMT) | 5.000 | 08/01/35 | 1232351 |
| 1000000 | Galveston, Texas, Wharves and Terminal First Lien Revenue Bonds, Series 2023, (AMT) | 5.250 | 08/01/37 | 1054905 |
| 795000 | Galveston, Texas, Wharves and Terminal First Lien Revenue Bonds, Series 2023, (AMT) | 5.250 | 08/01/38 | 836678 |
| 10000000 | Greater Texas Cultural Educational Facilities Finance Corporation, Texas, Revenue Bonds, Biomedical Research Institute Series 2024A | 5.250 | 06/01/54 | 10140467 |
| 8585000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Revenue Refunding Bonds, Young Men's Christian Association of the Greater Houston Area, Series 2013A | 5.000 | 06/01/33 | 8363988 |
| 4750000 | Harris County Industrial Development Corporation, Texas, Revenue Bonds, Energy Transfer LP Project, Marine Terminal Refunding Series 2023, (Mandatory Put 6/01/33) | 4.050 | 11/01/50 | 4739731 |
| 2500000 | Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2023A - AGM Insured, (AMT) | 5.250 | 07/01/39 | 2672055 |
| 2255000 | Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal Improvements Project, Series 2024B, (AMT) | 5.500 | 07/15/36 | 2379339 |
| 1340000 | Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal Improvements Project, Series 2024B, (AMT) | 5.500 | 07/15/37 | 1408504 |

---

34 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TEXAS** (continued) |  |  |  |
| $1150000 | Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal Improvements Project, Series 2024B, (AMT) | 5.500% | 07/15/38 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1205206 |
| 1220000 | Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal Improvements Project, Series 2024B, (AMT) | 5.500 | 07/15/39 | 1276114 |
| 2560000 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2014 | 5.000 | 09/01/32 | 2563404 |
| 335000 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2014 | 5.000 | 09/01/34 | 335406 |
| 1360000 | Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2015 | 5.000 | 08/15/30 | 1365854 |
| 1280000 | Kerrville Health Facilities Development Corporation, Texas, Revenue Bonds, Sid Peterson Memorial Hospital Project, Series 2015 | 5.000 | 08/15/35 | 1284414 |
| 10000000 (h) | Lamar Consolidated Independent School District, Fort Bend County, Texas, General Obligation Bonds, Schoolhouse Series 2023, (UB) | 4.250 | 02/15/53 | 9601182 |
| 3300000 | Love Field Airport Modernization Corporation, Texas, Special Facilities Revenue Bonds, Southwest Airlines Company - Love Field Modernization Program Project, Series 2012, (AMT) | 5.000 | 11/01/28 | 3300695 |
| 665000 | New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Legacy at Willow Bend Project, Series 2016 | 5.000 | 11/01/46 | 541124 |
| 805000 | New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Legacy at Willow Bend Project, Series 2016 | 5.000 | 11/01/51 | 633468 |
| 570000 | New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Legacy Midtown Park Project, Series 2018A | 5.500 | 07/01/54 | 418347 |
| 760000 | New Hope Cultural Education Facilities Finance Corporation, Texas, Retirement Facility Revenue Bonds, Wesleyan Homes, Inc. Project, Series 2014 | 5.500 | 01/01/43 | 719786 |
| 6625000 | New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, CHF-Collegiate Housing Foundation - College Station I LLC - Texas A&M University Project, Series 2014A - AGM Insured | 4.100 | 04/01/34 | 6406459 |
| 10000000 (c) | New Hope Cultural Education Facilities Finance Corporation, Texas, Student Housing Revenue Bonds, NCCD - College Station Properties LLC - Texas A&M University Project, Series 2015A | 5.000 | 07/01/47 | 9591854 |
| 10880000 (g) | North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C, (Pre- refunded 9/01/31) | 6.750 | 09/01/45 | 13015956 |
| 1000000 (b) | Port Beaumont Navigation District, Jefferson County, Texas, Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast Energy Project, Series 2024A, (AMT) | 5.125 | 01/01/44 | 1006685 |
| 555000 (b) | Princeton, Texas, Special Assessment Revenue Bonds, Winchester Crossing Public Improvement District 3 Project, Series 2024 | 5.125 | 09/01/44 | 529886 |
| 535000 | Reagan Hospital District of Reagan County, Texas, Limited Tax Revenue Bonds, Series 2014A | 5.000 | 02/01/29 | 533694 |
| 1805000 | Reagan Hospital District of Reagan County, Texas, Limited Tax Revenue Bonds, Series 2014A | 5.000 | 02/01/34 | 1754834 |
| 385000 | Reagan Hospital District of Reagan County, Texas, Limited Tax Revenue Bonds, Series 2014A | 5.125 | 02/01/39 | 369506 |
| 645000 | SA Energy Acquisition Public Facilities Corporation, Texas, Gas Supply Revenue Bonds, Series 2007 | 5.500 | 08/01/27 | 670967 |
| 3000000 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Revenue Bonds, Texas Health Resources System, Series 2016A | 5.000 | 02/15/41 | 3032423 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **35** |

---

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TEXAS** (continued) |  |  |  |
| $1750000 | Texas Private Activity Bond Surface Transpiration Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 LLC Refunding Series 2023, (AMT) | 5.375% | 06/30/37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1851529 |
| 1360000 | Texas Private Activity Bond Surface Transpiration Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 LLC Refunding Series 2023, (AMT) | 5.375 | 06/30/39 | 1429278 |
| 1000000 | Texas Private Activity Bond Surface Transpiration Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 LLC Refunding Series 2023, (AMT) | 5.500 | 06/30/40 | 1054500 |
| 580000 | Texas Private Activity Bond Surface Transpiration Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 LLC Refunding Series 2023, (AMT) | 5.500 | 06/30/43 | 605374 |
| 1680000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Refunding Series 2020A | 4.000 | 12/31/37 | 1613109 |
| 1750000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Refunding Series 2020A | 4.000 | 06/30/38 | 1674623 |
| 1300000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Refunding Series 2020A | 4.000 | 06/30/39 | 1233257 |
| 1500000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Refunding Series 2020A | 4.000 | 12/31/39 | 1414097 |
| 3690000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Refunding Series 2020A | 4.000 | 06/30/40 | 3468963 |
| 5000000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 LLC Segments 3C Project, Series 2019, (AMT) | 5.000 | 06/30/58 | 4963425 |
| 5000000 | Waco, Texas, Certificates of Obligation, Combination Tax & Revenue Series 2024A | 5.000 | 02/01/49 | 5242301 |
|  | TOTAL TEXAS |  |  | 168346079 |
|  | **UTAH - 1.3%** |  |  |  |
| 500000 (b) | Arrowhead Springs Public Infrastructure District, Utah, Special Assessment Bonds, Arrowhead Springs Assessment Area, Series 2025 | 5.625 | 12/01/54 | 500701 |
| 740000 (b) | Black Desert Public Infrastructure District, Washington County, Utah, Special Assessment Bonds, Black Desert Assessment Area 1, Series 2024 | 5.625 | 12/01/53 | 742257 |
| 500000 (b) | MIDA Mountain Village Public Infrastructure District, Utah, Subordinate Tax Allocation Revenue Bonds, Series 2024-1 | 5.125 | 06/15/54 | 475808 |
| 1000000 (b) | MIDA Mountain Village Public Infrastructure District, Utah, Subordinate Tax Allocation Revenue Bonds, Series 2024-2 | 5.500 | 06/15/39 | 1021120 |
| 3500000 | Military Installation Development Authority, Utah, Tax Allocation Revenue Bonds Series 2021A-2 | 4.000 | 06/01/41 | 3124599 |
| 2600000 (b) | Red Bridge Public Infrastructure District 1, Utah, Limited Tax General Obligation Bonds, Series 2021A | 4.375 | 02/01/51 | 1885468 |
| 19115000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2017A, (AMT) | 5.000 | 07/01/42 | 19238852 |
| 13165000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2018A, (AMT) | 5.000 | 07/01/37 | 13471103 |
| 1700000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.250 | 07/01/41 | 1798097 |
| 1750000 (h) | Utah Housing Corporation, Single Family Mortgage Bonds, Series 2024C, (UB) | 4.450 | 01/01/44 | 1711019 |
| 3470000 (h) | Utah Housing Corporation, Single Family Mortgage Bonds, Series 2024C, (UB) | 4.650 | 01/01/49 | 3417969 |
| 660000 (h) | Utah Housing Corporation, Single Family Mortgage Bonds, Series 2024C, (UB) | 4.700 | 01/01/54 | 659449 |
| 1000000 (b) | Wakara Ridge Public Infrastructure District, Utah, Special Assessment Bonds, Wakara Ridge Assessment Area, Series 2025 | 5.625 | 12/01/54 | 1005308 |
|  | TOTAL UTAH |  |  | 49051750 |

---

36 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **VIRGIN ISLANDS - 0.0%** |  |  |  |
| $1100000 (b) | Virgin Islands Public Finance Authority, Revenue Bonds, Frenchman's Reef Hotel Development Hotel Occupancy Series 2024A | 6.000% | 04/01/53 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1129002 |
|  | TOTAL VIRGIN ISLANDS |  |  | 1129002 |
|  | **VIRGINIA - 1.7%** |  |  |  |
| 6000000 | Roanoke Economic Development Authority, Virginia, Hospital Revenue Bonds, Carilion Clinic Obligated Group, Series 2020D, (Mandatory Put 7/01/30) | 5.000 | 07/01/53 | 6430446 |
| 4010000 | Tobacco Settlement Financing Corporation of Virginia, Tobacco Settlement Asset Backed Bonds, Series 2007B1 | 5.000 | 06/01/47 | 3668331 |
| 5000000 | Virginia College Building Authority, Educational Facilities Revenue Bonds, 21st Century College & Equipment Programs, Series 2022A | 5.000 | 02/01/40 | 5356700 |
| 10000000 (h) | Virginia Housing Development Authority, Rental Housing Bonds, Series 2024A, (UB) | 4.450 | 09/01/44 | 9799674 |
| 4325000 (h) | Virginia Housing Development Authority, Rental Housing Bonds, Series 2024A, (UB) | 4.600 | 09/01/49 | 4300306 |
| 8500000 (h) | Virginia Housing Development Authority, Rental Housing Bonds, Series 2024A, (UB) | 4.650 | 09/01/54 | 8517534 |
| 2070000 | Virginia Port Authority, Commonwealth Port Fund Revenue Bonds, Series 2023A | 5.000 | 07/01/42 | 2211382 |
| 2000000 (b) | Virginia Small Business Finance Authority, Educational Facilities Revenue Bonds, Provident Resource Group - Rixey Student Housing Project, Series 2019A | 5.500 | 07/01/49 | 1688800 |
| 2180000 | Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017, (AMT) | 5.000 | 12/31/47 | 2187203 |
| 13250000 | Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017, (AMT) | 5.000 | 12/31/52 | 13229930 |
| 4060000 | Virginia Small Business Financing Authority, Revenue Bonds, National Senior Campuses Inc Obligated Group, Series 2020A | 4.000 | 01/01/40 | 3801594 |
| 5695000 | Virginia Small Business Financing Authority, Revenue Bonds, National Senior Campuses Inc Obligated Group, Series 2020A | 4.000 | 01/01/45 | 5111162 |
|  | TOTAL VIRGINIA |  |  | 66303062 |
|  | **WASHINGTON - 2.6%** |  |  |  |
| 5500000 | King County Public Hospital District 4, Washington, General Obligation Bonds, Snoqualmie Valley Hospital, Refunding Limited Tax Series 2015A | 5.000 | 12/01/38 | 5413780 |
| 4735000 | Port of Seattle, Washington, General Obligation Bonds, Limited Tax Series, Refunding 2024A, (AMT) | 5.000 | 06/01/43 | 4917173 |
| 4795000 | Port of Seattle, Washington, General Obligation Bonds, Limited Tax Series, Refunding 2024A, (AMT) | 5.000 | 06/01/44 | 4968240 |
| 5510000 | Port of Seattle, Washington, General Obligation Bonds, Limited Tax Series, Refunding 2024A, (AMT) | 5.000 | 06/01/45 | 5694087 |
| 3320000 | Port of Seattle, Washington, General Obligation Bonds, Limited Tax Series, Refunding 2024A, (AMT) | 5.000 | 06/01/46 | 3431929 |
| 5590000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2017C, (AMT) | 5.000 | 05/01/30 | 5739545 |
| 10000000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2019, (AMT) | 5.000 | 04/01/37 | 10268988 |
| 6995000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2019, (AMT) | 5.000 | 04/01/38 | 7159190 |
| 4000000 | Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Valley Hospital, Refunding & Improvement Series 2016 | 5.000 | 12/01/32 | 4031272 |
| 1120000 | Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Valley Hospital, Refunding & Improvement Series 2016 | 5.000 | 12/01/37 | 1121637 |
| 3630000 | Washington Health Care Facilities Authority, Revenue Bonds, CommonSpirit Health, Series 2019A-1 | 4.000 | 08/01/44 | 3340220 |
| 2960000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Series 2014D | 5.000 | 10/01/41 | 2965676 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **37** |

---

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **WASHINGTON** (continued) |  |  |  |
| $3090000 |  | Washington Health Care Facilities Authority, Revenue Bonds, Virginia Mason Medical Center, Series 2017 | 5.000% | 08/15/33 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3154469 |
| 3470000 |  | Washington Health Care Facilities Authority, Revenue Bonds, Virginia Mason Medical Center, Series 2017 | 5.000 | 08/15/34 | 3534747 |
| 2695000 |  | Washington Health Care Facilities Authority, Revenue Bonds, Virginia Mason Medical Center, Series 2017 | 5.000 | 08/15/35 | 2739793 |
| 1155000 | (b) | Washington State Housing Finance Commission, Nonprofit Refunding Revenue Bonds, Wesley Homes at Lea Hill Project, Series 2016 | 5.000 | 07/01/41 | 1006674 |
| 2000000 | (b) | Washington State Housing Finance Commission, Nonprofit Refunding Revenue Bonds, Wesley Homes at Lea Hill Project, Series 2016 | 5.000 | 07/01/46 | 1682325 |
| 3805000 | (b) | Washington State Housing Finance Commission, Nonprofit Refunding Revenue Bonds, Wesley Homes at Lea Hill Project, Series 2016 | 5.000 | 07/01/51 | 3083857 |
| 2240000 |  | Washington State Housing Finance Commission, Revenue Bonds, Riverview Retirement Community, Refunding Series 2012 | 5.000 | 01/01/48 | 2061691 |
| 14036844 |  | Washington State Housing Finance Commission, Social Municipal Certificates Multifamily Revenue Bonds, Series 2023-1 Class A | 3.375 | 04/20/37 | 12356676 |
| 4540000 |  | Washington State, General Obligation Bonds, Various Purpose Series 2022A | 5.000 | 08/01/44 | 4749577 |
| 6635000 |  | Washington State, General Obligation Bonds, Various Purpose Series 2023A | 5.000 | 08/01/43 | 7008195 |
|  |  | TOTAL WASHINGTON |  |  | 100429741 |
|  |  | **WEST VIRGINIA - 0.2%** |  |  |  |
| 550000 | (b) | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Core Natural Resources, INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35) | 5.450 | 01/01/55 | 563388 |
| 1500000 |  | West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Charleston Area Medical Center, Refunding & Improvement Series 2019A | 5.000 | 09/01/31 | 1556044 |
| 1800000 |  | West Virginia Hospital Finance Authority, Revenue Bonds, West Virginia University Health System, Improvement Series 2023A | 5.000 | 06/01/38 | 1925987 |
| 1000000 |  | West Virginia Hospital Finance Authority, Revenue Bonds, West Virginia University Health System, Improvement Series 2023A | 5.000 | 06/01/39 | 1063626 |
| 1715000 |  | West Virginia Hospital Finance Authority, Revenue Bonds, West Virginia University Health System, Improvement Series 2023A | 5.000 | 06/01/41 | 1798508 |
|  |  | TOTAL WEST VIRGINIA |  |  | 6907553 |
|  |  | **WISCONSIN - 3.7%** |  |  |  |
| 1745000 | (b) | Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Cornerstone Charter Academy, North Carolina, Series 2016A | 5.000 | 02/01/36 | 1752113 |
| 815000 | (b) | Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Eno River Academy Project, Series 2020A | 5.000 | 06/15/40 | 809001 |
| 200000 | (b) | Public Finance Authority of Wisconsin, Charter School Revenue Bonds, Founders Academy of Las Vegas, Series 2020A | 5.000 | 07/01/55 | 171602 |
| 2150000 | (b) | Public Finance Authority of Wisconsin, Charter School Revenue Bonds, North Carolina Charter Educational Foundation Project, Series 2016A | 5.000 | 06/15/46 | 1749032 |
| 1100000 |  | Public Finance Authority of Wisconsin, Charter School Revenue Bonds, North East Carolina Preparatory School Project, Refunding Series 2024A | 5.250 | 06/15/54 | 1090875 |
| 10952 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/47 | 318 |
| 9573 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/48 | 262 |
| 9420 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/49 | 242 |

---

38 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **WISCONSIN** (continued) |  |  |  |
| $9114 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000% | 01/01/50 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;216 |
| 8961 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/51 | 201 |
| 11641 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/52 | 242 |
| 11488 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/53 | 226 |
| 11105 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/54 | 205 |
| 10876 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/55 | 189 |
| 10646 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/56 | 175 |
| 579414 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 5.500 | 07/01/56 | 426165 |
| 11795 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/57 | 183 |
| 11488 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/58 | 168 |
| 11182 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/59 | 155 |
| 10952 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/60 | 142 |
| 10799 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/61 | 132 |
| 10493 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/62 | 121 |
| 10263 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/63 | 112 |
| 10033 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/64 | 104 |
| 9880 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/65 | 96 |
| 10646 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/66 | 96 |
| 128214 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, First Tier Series 2018A-1 | 0.000 | 01/01/67 | 1046 |
| 26928 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/46 | 846 |
| 26549 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/47 | 770 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **39** |

---

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **WISCONSIN** (continued) |  |  |  |
| $26359 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000% | 01/01/48 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;720 |
| 26169 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/49 | 671 |
| 25790 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/50 | 612 |
| 28255 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/51 | 633 |
| 727382 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 3.750 | 07/01/51 | 500125 |
| 28066 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/52 | 583 |
| 27687 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/53 | 544 |
| 27497 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/54 | 506 |
| 27118 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/55 | 471 |
| 26738 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/56 | 441 |
| 26549 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/57 | 411 |
| 26169 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/58 | 383 |
| 25980 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/59 | 360 |
| 25790 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/60 | 335 |
| 25411 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/61 | 311 |
| 25221 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/62 | 291 |
| 24842 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/63 | 272 |
| 24652 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/64 | 256 |
| 24463 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/65 | 238 |
| 24083 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/66 | 217 |
| 313660 | (b),(c) | Public Finance Authority of Wisconsin, Conference Center and Hotel Revenue Bonds, Lombard Public Facilities Corporation, Second Tier Series 2018B | 0.000 | 01/01/67 | 2560 |

---

40 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **WISCONSIN** (continued) |  |  |  |
| $2000000 | (b) | Public Finance Authority of Wisconsin, Education Revenue Bonds, Bonnie Cone Classical Academy, Series 2024 | 5.625% | 06/15/54 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1956982 |
| 5730000 | (b) | Public Finance Authority of Wisconsin, Education Revenue Bonds, Bonnie Cone Classical Academy, Series 2024 | 5.625 | 06/15/59 | 5551953 |
| 1650000 | (b) | Public Finance Authority of Wisconsin, Education Revenue Bonds, Carolina International School, Series 2013A | 7.000 | 08/01/43 | 1651394 |
| 700000 | (b) | Public Finance Authority of Wisconsin, Education Revenue Bonds, Pinecrest Academy of Nevada, Sloan Canyon Campus Project, Refunding Series 2024A | 4.250 | 07/15/44 | 645252 |
| 2000000 |  | Public Finance Authority of Wisconsin, Educational Facility Revenue Bonds, Cornerstone Charter Academy Series 2024 | 5.000 | 02/01/64 | 1931757 |
| 3845000 |  | Public Finance Authority of Wisconsin, Exempt Facilities Revenue Bonds, National Gypsum Company Project, Refunding Series 2016, (AMT) | 4.000 | 08/01/35 | 3676879 |
| 14000000 | (b) | Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017 | 6.750 | 12/01/42 | 14171144 |
| 5000000 |  | Public Finance Authority of Wisconsin, Pollution Control Revenue Bonds, Duke Energy Progress Project, Refunding Series 2022B, (Mandatory Put 10/01/30) | 4.000 | 10/01/46 | 5006299 |
| 2735000 | (b),(c) | Public Finance Authority of Wisconsin, Revenue Bonds, Alabama Gulf Coast Zoo, Series 2018A | 6.500 | 09/01/48 | 1641000 |
| 2750000 |  | Public Finance Authority of Wisconsin, Revenue Bonds, Sky Harbour LLC Obligated Group Aviation Facilities Project, Series 2021, (AMT) | 4.250 | 07/01/54 | 2254140 |
| 1360000 | (b),(c) | Public Finance Authority of Wisconsin, Senior Revenue Bonds, Maryland Proton Treatment Center, Series 2018A-1 | 6.250 | 01/01/38 | 612000 |
| 4065000 | (b),(c) | Public Finance Authority of Wisconsin, Senior Revenue Bonds, Maryland Proton Treatment Center, Series 2018A-1 | 6.375 | 01/01/48 | 1829250 |
| 1000000 | (c) | Public Finance Authority of Wisconsin, Senior Revenue Bonds, Maryland Proton Treatment Center, Series 2018B-2 | 0.000 | 01/01/49 | 450000 |
| 4300000 |  | Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2016A-2 | 2.875 | 05/01/27 | 4209201 |
| 10050000 | (b) | Public Finance Authority, Wisconsin, Educational Revenue Bonds, Lake Norman Charter School, Series 2018A | 5.000 | 06/15/38 | 10080757 |
| 3360000 | (b) | Public Finance Authority, Wisconsin, Educational Revenue Bonds, Lake Norman Charter School, Series 2018A | 5.000 | 06/15/48 | 3288158 |
| 2900000 |  | Public Finance Authority, Wisconsin, Educational Revenue Bonds, Lake Norman Charter School, Series 2024A | 5.000 | 06/15/64 | 2805437 |
| 7000000 |  | Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C | 4.300 | 11/01/30 | 6955976 |
| 3525000 | (b) | Public Finance Authority, Wisconsin, Tax Increment Revenue Senior Bonds, World Center Project Series 2024A | 5.000 | 06/01/41 | 3586949 |
| 1465000 | (b) | Public Finance Authority, Wisconsin, Tax Increment Revenue Subordinate Bonds, World Center Project Series 2024B | 8.000 | 06/15/42 | 1475061 |
| 6495000 | (g) | Wisconsin Center District, Dedicated Tax Revenue Bonds, Supported by State Moral Obligation Junior Series 2020D, (Pre- refunded 12/15/30) | 0.000 | 12/15/60 | 1616711 |
| 27005000 |  | Wisconsin Center District, Dedicated Tax Revenue Bonds, Supported by State Moral Obligation Junior Series 2020D - AGM Insured | 0.000 | 12/15/60 | 4193110 |
| 18000000 |  | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2012 | 5.000 | 06/01/32 | 18036513 |
| 7500000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Children's Hospital of Wisconsin, Inc., Series 2017 | 4.000 | 08/15/42 | 6974118 |
| 650000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson Hollow Phase 2 Project, Series 2024 | 5.450 | 10/01/39 | 656056 |
| 1880000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson Hollow Project. Series 2014 | 5.250 | 10/01/39 | 1866107 |
| 1000000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson Hollow Project. Series 2014 | 5.375 | 10/01/44 | 974480 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **41** |

---

------

Portfolio of Investments March 31, 2025 (continued)

All-American

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **WISCONSIN** (continued) |  |  |  |
| $3500000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Dickson Hollow Project. Series 2014 | 5.500% | 10/01/49 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3390521 |
| 6000000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Froedtert Health, Inc. Obligated Group, Series 2017A | 4.000 | 04/01/39 | 5673725 |
| 5000000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Marshfield Clinic, Series 2016A | 5.000 | 02/15/46 | 4796210 |
| 2980000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2014A | 5.000 | 07/01/34 | 2946469 |
| 2100000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2014A | 4.350 | 07/01/36 | 2014684 |
| 5000000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Woodland Hills Senior Housing Project, Series 2014 | 5.000 | 12/01/34 | 4847657 |
| 4435000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Woodland Hills Senior Housing Project, Series 2014 | 5.000 | 12/01/44 | 3902875 |
| 4225000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Woodland Hills Senior Housing Project, Series 2014 | 5.250 | 12/01/49 | 3758230 |
|  |  | TOTAL WISCONSIN |  |  | 145943030 |
|  |  | **TOTAL MUNICIPAL BONDS<br>(Cost $3,904,971,427)** |  |  | **3901263129** |
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **VARIABLE RATE SENIOR LOAN INTERESTS - 0.0%** |  |  |  |
|  |  | **CAPITAL GOODS - 0.0%** |  |  |  |
| 321690 | (c),(d) | KDC Agribusiness Fairless Hills LLC | 12.000 | 09/15/23 | 32 |
|  |  | TOTAL CAPITAL GOODS |  |  | 32 |
|  |  | **TOTAL VARIABLE RATE SENIOR LOAN INTERESTS<br>(Cost $321,690)** |  |  | **32** |
|  |  | **TOTAL LONG-TERM INVESTMENTS<br>(Cost $3,922,970,867)** |  |  | **3918639751** |
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **SHORT-TERM INVESTMENTS - 2.0%** |  |  |  |
|  |  | **MUNICIPAL BONDS - 2.0%** |  |  |  |
|  |  | **ALABAMA - 0.7%** |  |  |  |
| 26275000 | (j) | West Jefferson Industrial Development Board, Alabama, Solid Waste Disposal Revenue Bonds, Alabama Power Company Miller Plant Project, Series 2008, (AMT) | 3.800 | 12/01/38 | 26275000 |
|  |  | TOTAL ALABAMA |  |  | 26275000 |
|  |  | **CALIFORNIA - 1.3%** |  |  |  |
| 50000000 | (j) | Los Angeles Department of Water and Power, California, Power System Revenue Bonds, Series 2023F-2 | 3.850 | 07/01/47 | 50000000 |
|  |  | TOTAL CALIFORNIA |  |  | 50000000 |
|  |  | **TOTAL MUNICIPAL BONDS<br>(Cost $76,275,000)** |  |  | **76275000** |
|  |  | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $76,275,000)** |  |  | **76275000** |
|  |  | **TOTAL INVESTMENTS - 102.3%<br>(Cost $3,999,245,867)** |  |  | **3994914751** |
|  |  | FLOATING RATE OBLIGATIONS - (4.6)% |  |  | **(178160000)** |
|  |  | OTHER ASSETS & LIABILITIES, NET - 2.3% |  |  | **89709300** |
|  |  | NET ASSETS - 100% |  |  | $**3906464051** |

---

AMT Alternative Minimum Tax

ETF Exchange-Traded Fund

ETM Escrowed to maturity

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

42 *See Notes To Financial Statements*

------

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

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

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

(a) Affiliated holding

(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 reporting period, the aggregate value of these securities is $428,085,469 or 10.7% 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) For fair value measurement disclosure purposes, investment classified as Level 3.

(e) When-issued or delayed delivery security.

(f) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.

(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, or portion of investment, has been pledged to collateralize the net payment obligations for investments in derivatives and/or inverse floating rate transactions.

(i) Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.

(j) Investment has a maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the reporting period. This rate changes periodically based on market conditions or a specified market index.

---

| | |
|:---|:---|
| See Notes To Financial Statements | **43** |

---

------

Portfolio of Investments March 31, 2025

Intermediate Duration

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SHARES** |  | **DESCRIPTION** | | | **VALUE** |
|  |  | **LONG-TERM INVESTMENTS - 97.8%** |  |  |  |
|  |  | **EXCHANGE-TRADED FUNDS - 0.0%** |  |  |  |
| 75000 | (a) | Nuveen Municipal Income ETF |  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1861777 |
|  |  | **TOTAL EXCHANGE-TRADED FUNDS**<br> **(Cost $1,893,750)** |  |  | **1861777** |
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **MORTGAGE-BACKED SECURITIES - 0.5%** |  |  |  |
| $3494647 | (b),(c) | Federal Home Loan Mortgage Corporation, Multifamily Variable Rate Certificates Guaranteed Structured Pass Through Class A Series 2024ML-023, Series 2024 ML23 | 4.287% | 04/25/42 | 3635512 |
| 13073142 |  | Federal Home Loan Mortgage Corporation, Notes, Series 2023 23-ML15 | 4.140 | 01/25/40 | 12980161 |
| 4627820 |  | Federal Home Loan Mortgage Corporation, Notes, Series 2022 M068 | 3.150 | 10/15/36 | 4135021 |
| 4659344 |  | Freddie Mac Multi-Family ML Certificates, Series ML 08, Series 2021, Series 2021 21-ML08 | 1.877 | 07/25/37 | 3770310 |
| 7915799 |  | Freddie Mac Multi-Family ML Certificates, Series ML 10, Series 2021, Series 2021 ML10 | 2.032 | 01/25/38 | 6297933 |
| 4722072 |  | Freddie Mac Multi-Family ML Certificates, Series ML 22 Class A-US, Series 2024, Series 2024 ML22 | 4.268 | 10/25/40 | 4852805 |
|  |  | **TOTAL MORTGAGE-BACKED SECURITIES**<br> **(Cost $39,285,281)** |  |  | **35671742** |
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **MUNICIPAL BONDS - 97.3%** |  |  |  |
|  |  | **ALABAMA - 2.5%** |  |  |  |
| 1920000 |  | Alabama Housing Finance Authority, Collateralized Single Family Mortgage Revenue Bonds, Series 2024B | 4.250 | 10/01/39 | 1905884 |
| 3645000 |  | Alabama Housing Finance Authority, Collateralized Single Family Mortgage Revenue Bonds, Series 2024B | 4.550 | 10/01/44 | 3604788 |
| 1390000 |  | Alabama Housing Finance Authority, Collateralized Single Family Mortgage Revenue Bonds, Series 2024C | 4.450 | 10/01/44 | 1362195 |
| 4230000 |  | Alabama Housing Finance Authority, Collateralized Single Family Mortgage Revenue Bonds, Series 2024D | 4.300 | 10/01/44 | 4069588 |
| 7630000 |  | Alabama State Port Authority, Docks Facilities Revenue Bonds, Refunding Series 2017A - AGM Insured, (AMT) | 5.000 | 10/01/31 | 7769483 |
| 5080000 |  | Birmingham-Jefferson Civic Center Authority, Alabama, Special Tax Bonds, Series 2018A | 4.000 | 07/01/37 | 4912920 |
| 2880000 |  | Birmingham-Jefferson Civic Center Authority, Alabama, Special Tax Bonds, Series 2018B | 5.000 | 07/01/37 | 2956648 |
| 3630000 |  | Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Project 4 Series 2019A-1, (Mandatory Put 12/01/25) | 4.000 | 12/01/49 | 3641530 |
| 6815000 |  | Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Project 8 Series 2022A, (Mandatory Put 12/01/29) | 4.000 | 12/01/52 | 6771823 |
| 3000000 |  | Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Series 2022F, (Mandatory Put 12/01/28) | 5.500 | 11/01/53 | 3153149 |
| 11605000 |  | Black Belt Energy Gas District, Alabama, Gas Project Revenue Bonds, Prepay BP PLC, Series 2024D, (Mandatory Put 11/01/34) | 5.000 | 03/01/55 | 12399739 |
| 4000000 |  | Black Belt Energy Gas District, Alabama, Gas Project Revenue Bonds, Series 2023C, (Mandatory Put 6/01/32) | 5.500 | 10/01/54 | 4301448 |
| 2225000 |  | Black Belt Energy Gas District, Alabama, Gas Project Revenue Bonds, Series 2024C, (Mandatory Put 7/01/31) | 5.000 | 05/01/55 | 2351230 |
| 8285000 |  | Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2022 Sub D-1, (Mandatory Put 6/01/27) | 4.000 | 07/01/52 | 8353216 |
| 5000000 |  | Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2023 Sub B-2, (Mandatory Put 12/01/30) | 5.250 | 12/01/53 | 5349120 |
| 1045000 |  | Chatom Industrial Development Board, Alabama, Gulf Opportunity Zone Revenue Bonds, PowerSouth Energy Cooperative, Refunding Series 2020 - AGM Insured | 5.000 | 08/01/26 | 1068251 |

---

44 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ALABAMA** (continued) |  |  |  |
| $1000000 | Chatom Industrial Development Board, Alabama, Gulf Opportunity Zone Revenue Bonds, PowerSouth Energy Cooperative, Refunding Series 2020 - AGM Insured | 5.000% | 08/01/28 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1051644 |
| 1000000 | Chatom Industrial Development Board, Alabama, Gulf Opportunity Zone Revenue Bonds, PowerSouth Energy Cooperative, Refunding Series 2020 - AGM Insured | 5.000 | 08/01/30 | 1070215 |
| 5515000 | Lower Alabama Gas District, Alabama, Goldman Sachs Gas Project 2 Revenue Bonds, Series 2020A, (Mandatory Put 12/01/25) | 4.000 | 12/01/50 | 5527713 |
| 2540000 | Mobile County Industrial Development Authority, Alabama, Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC Project, Series 2024B, (AMT) | 4.750 | 12/01/54 | 2403909 |
| 7420000 | Mobile Industrial Development Board, Alabama, Pollution Control Revenue Refunding Bonds, Alabama Power Company Barry Plan, Series 2007A, (Mandatory Put 6/26/25) | 1.000 | 06/01/34 | 7373667 |
| 2235000 (d) | Montgomery Medical Clinic Board, Alabama, Health Care Facility Revenue Bonds, Jackson Hospital & Clinic, Series 2015 | 5.000 | 09/01/25 | 1402462 |
| 1725000 (d) | Montgomery Medical Clinic Board, Alabama, Health Care Facility Revenue Bonds, Jackson Hospital & Clinic, Series 2015 | 5.000 | 03/01/26 | 1082438 |
| 2025000 | Selma Industrial Development Board, Alabama, Gulf Opportunity Zone Revenue Bonds, International Paper Company Project, Refunding Series 2019A, (Mandatory Put 10/01/31) | 3.450 | 11/01/33 | 1990506 |
| 8285000 | Selma Industrial Development Board, Alabama, Gulf Opportunity Zone Revenue Bonds, International Paper Company Project, Refunding Series 2020A, (Mandatory Put 6/16/25) | 1.375 | 05/01/34 | 8236040 |
| 12000000 | Southeast Alabama Gas Supply District, Alabama, Gas Supply Revenue Bonds, Project 1, Refunding Series 2024A, (Mandatory Put 4/01/32) | 5.000 | 08/01/54 | 12711644 |
| 10000000 | Southeast Energy Authority, Alabama, A Cooperative District Energy Supply Revenue Bonds Series 2024A | 5.000 | 11/01/35 | 10327902 |
| 10000000 | Southeast Energy Authority, Alabama, Commodity Supply Revenue Bonds, Project 2, Series 2021B-1, (Mandatory Put 12/01/31) | 4.000 | 12/01/51 | 9917979 |
| 1820000 | Southeast Energy Authority, Alabama, Commodity Supply Revenue Bonds, Project 3, Fixed Rate Series 2022A-1, (Mandatory Put 12/01/29) | 5.500 | 01/01/53 | 1932314 |
| 15000000 | Southeast Energy Authority, Alabama, Commodity Supply Revenue Bonds, Project 4, Series 2022B-1, (Mandatory Put 8/01/28) | 5.000 | 05/01/53 | 15504294 |
| 15395000 | Southeast Energy Authority, Alabama, Revenue Bonds Cooperative District Energy Supply Series 2024C, (Mandatory Put 11/01/32) | 5.000 | 11/01/55 | 16377301 |
| 5345000 | Southeast Energy Authority, Alabama, Revenue Bonds, Cooperative District Energy Supply Series 2025A, (Mandatory Put 6/01/35) | 5.000 | 01/01/56 | 5571224 |
| 3500000 | Southeast Energy Authority, Alabama, Revenue Bonds, Cooperative District Energy Supply Series 2025B, (Mandatory Put 1/01/33) | 5.250 | 03/01/55 | 3675714 |
| 130000 | The Improvement District of the City of Mobile - McGowin Park Project, Alabama, Sales Tax Revenue Bonds, Series 2016A | 5.000 | 08/01/25 | 130376 |
| 4250000 (c) | Tuscaloosa County Industrial Development Authority, Alabama, Gulf Opportunity Zone Bonds, Hunt Refining Project, Refunding Series 2019A | 5.250 | 05/01/44 | 4295127 |
| 10000000 | West Jefferson, Alabama, Industrial Development Board Pollution Control Revenue Bonds, Alabama Power Company, Refunding Series 1998 | 3.650 | 06/01/28 | 10072700 |
|  | TOTAL ALABAMA |  |  | 194626181 |
|  | **ALASKA - 0.2%** |  |  |  |
| 5000000 | Alaska Housing Finance Corporation, Collateralized Mortgage Bonds, Veterans Mortgage Program, 2024 First Series | 4.000 | 12/01/41 | 4771462 |
| 4000000 | Alaska Housing Finance Corporation, General Obligation Bonds, State Capital Project II, Series 2024A | 5.000 | 12/01/39 | 4253559 |
| 1900000 | Alaska Housing Finance Corporation, Mortgage Revenue Bonds, General Series 2022A-II | 2.350 | 12/01/39 | 1428474 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **45** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ALASKA** (continued) |  |  |  |
| $1575000 | Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Senior Series 2021A Class 1 | 5.000% | 06/01/28 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1641798 |
|  | TOTAL ALASKA |  |  | 12095293 |
|  | **ARIZONA - 1.2%** |  |  |  |
| 1030000 | Arizona Board of Regents, University of Arizona, SPEED Revenue Bonds, Stimulus Plan for Economic and Educational Development, Series 2020C. Forward Delivery | 5.000 | 08/01/26 | 1059450 |
| 3000000 | Arizona Industrial Development Authority, Single Family Mortgage Revenue Bonds, Series 2024A | 4.500 | 04/01/44 | 2953445 |
| 5705000 (e) | Arizona State, Certificates of Participation, Refunding Series 2019A, (ETM) | 5.000 | 10/01/26 | 5899108 |
| 16915000 (e) | Arizona State, Certificates of Participation, Refunding Series 2019A, (ETM) | 5.000 | 10/01/27 | 17851056 |
| 2330000 | 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 | 2333528 |
| 2010000 | Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2019, (AMT), (Mandatory Put 6/01/29) | 4.000 | 06/01/49 | 2002911 |
| 22840000 | Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2022-2, (AMT), (Mandatory Put 9/01/27) | 5.000 | 09/01/52 | 23402522 |
| 775000 | Glendale Industrial Development Authority, Arizona, Revenue Bonds, Midwestern University, Refunding Series 2020 | 4.000 | 05/15/26 | 783699 |
| 1000000 | Glendale Union High School District 205, Maricopa County, Arizona, General Obligation Bonds, School Improvement, Project 2024, Series 2024A | 5.000 | 07/01/42 | 1070970 |
| 1875000 | Maricopa County and Phoenix City Industrial Development Authority, Arizona, Single Family Mortgage Revenue Bonds, Series 2024C | 4.625 | 09/01/44 | 1862594 |
| 890000 (c) | Maricopa County Industrial Development Authority, Arizona, Education Revenue Bonds, Legacy Traditional Schools Projects, Series 2021A | 4.000 | 07/01/41 | 786540 |
| 1950000 (c) | Maricopa County Industrial Development Authority, Arizona, Education Revenue Bonds, Legacy Traditional Schools Projects, Taxable Series 2019B | 5.000 | 07/01/39 | 1964598 |
| 460000 | Maricopa County Industrial Development Authority, Arizona, Hospital Revenue Bonds, HonorHealth, Series 2021A | 5.000 | 09/01/27 | 480803 |
| 2070000 | Maricopa County Pollution Control Corporation, Arizona, Pollution Control Revenue Bonds, El Paso Electric Company, Refunding Series 2009A | 3.600 | 02/01/40 | 1834669 |
| 1500000 | Maricopa County Unified School District 69 Paradise Valley, Arizona, General Obligation Bonds, School Improvement Project of 2023, Series 2025A | 5.000 | 07/01/30 | 1645667 |
| 3615000 | Northern Arizona University, Revenue Bonds, SPEED - Stimulus Plan Economic Educational Development Fund, Refunding Series 2020B - AGM Insured | 5.000 | 08/01/26 | 3724122 |
| 4220000 | Northern Arizona University, Revenue Bonds, SPEED - Stimulus Plan Economic Educational Development Fund, Refunding Series 2020B - AGM Insured | 5.000 | 08/01/27 | 4418271 |
| 3975000 | Northern Arizona University, Revenue Bonds, SPEED - Stimulus Plan Economic Educational Development Fund, Refunding Series 2020B - AGM Insured | 5.000 | 08/01/28 | 4229367 |
| 675000 | Paradise Valley Unified School District No. 69, Maricopa County, Arizona, General Obligation Bonds, School Improvement Project of 2019, Series 2022D | 5.000 | 07/01/37 | 736835 |
| 1200000 | Pima County Unified School District 1, Tucson, Arizona, General Obligation Bonds, Project of 2023 School Improvement Series 2024A - AGM Insured | 5.000 | 07/01/36 | 1316794 |
| 5000000 | Salt River Project Agricultural Improvement and Power District, Arizona, Electric System Revenue Bonds, Refunding Series 2015A | 4.000 | 12/01/33 | 5008555 |
| 1235000 | Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007 | 5.000 | 12/01/32 | 1306260 |

---

46 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ARIZONA** (continued) |  |  |  |
| $1120000 | Salt Verde Financial Corporation, Arizona, Senior Gas Revenue Bonds, Citigroup Energy Inc Prepay Contract Obligations, Series 2007 | 5.000% | 12/01/37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1179830 |
| 1000000 | Tucson, Arizona, Water System Revenue Bonds, Obligations Series 2024 | 5.000 | 07/01/41 | 1078462 |
| 1400000 | Tucson, Arizona, Water System Revenue Bonds, Obligations Series 2024 | 5.000 | 07/01/42 | 1502816 |
|  | TOTAL ARIZONA |  |  | 90432872 |
|  | **ARKANSAS - 0.8%** |  |  |  |
| 3140000 (c) | Arkansas Development Finance Authority, Arkansas, Environmental Improvement Revenue Bonds, United States Steel Corporation, Green Series 2022, (AMT) | 5.450 | 09/01/52 | 3217386 |
| 1165000 | Arkansas Development Finance Authority, Arkansas, Environmental Improvement Revenue Bonds, United States Steel Corporation, Green Series 2023, (AMT) | 5.700 | 05/01/53 | 1210746 |
| 14355000 (c) | Arkansas Development Finance Authority, Industrial Development Revenue Bonds, Big River Steel Project, Series 2019, (AMT) | 4.500 | 09/01/49 | 13684554 |
| 1785000 (c) | Arkansas Development Finance Authority, Industrial Development Revenue Bonds, Big River Steel Project, Series 2020A, (AMT) | 4.750 | 09/01/49 | 1723024 |
| 11415000 | Arkansas Development Finance Authority, Revenue Bonds, Baptist Memorial Health Care, Refunding Series 2020B-2, (Mandatory Put 9/01/27) | 5.000 | 09/01/44 | 11540362 |
| 170000 | Arkansas Development Finance Authority, Single Family Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2024A | 4.100 | 07/01/39 | 167756 |
| 1230000 | Arkansas Development Finance Authority, Single Family Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2024A | 4.450 | 07/01/44 | 1202278 |
| 3000000 (f) | Arkansas Development Finance Authority, Single Family Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2025A | 4.600 | 07/01/45 | 2985768 |
| 610000 | Arkansas State University, Student Fee Revenue Bonds, Jonesboro Campus, Refunding Series 2024B | 5.000 | 12/01/37 | 664088 |
| 620000 | Arkansas State University, Student Fee Revenue Bonds, Jonesboro Campus, Refunding Series 2024B | 5.000 | 12/01/38 | 672175 |
| 670000 | Arkansas State University, Student Fee Revenue Bonds, Jonesboro Campus, Refunding Series 2024B | 5.000 | 12/01/39 | 721826 |
| 705000 | Arkansas State University, Student Fee Revenue Bonds, Jonesboro Campus, Refunding Series 2024B | 5.000 | 12/01/40 | 752599 |
| 2305000 | Hot Springs School District 6, Garland County, Arkansas, General Obligation Bonds, Refunding Series 2021 | 2.000 | 06/01/29 | 2100837 |
| 2500000 | Hot Springs School District 6, Garland County, Arkansas, General Obligation Bonds, Refunding Series 2021 | 2.000 | 06/01/30 | 2216430 |
| 2905000 | Hot Springs School District 6, Garland County, Arkansas, General Obligation Bonds, Refunding Series 2021 | 2.000 | 06/01/31 | 2506573 |
| 325000 | Little Rock, Arkansas, General Obligation Bonds, Capital Improvement Series 2022A | 3.875 | 02/01/43 | 324149 |
| 1610000 | Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax Bonds, Series 2014 | 5.000 | 07/01/26 | 1612284 |
| 1500000 | Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax Bonds, Series 2014 | 5.000 | 07/01/28 | 1504330 |
| 1935000 | Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax Bonds, Series 2014 | 5.000 | 07/01/29 | 1940553 |
| 1005000 | Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax Bonds, Series 2014 | 5.000 | 07/01/30 | 1007867 |
| 4595000 | Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax Bonds, Series 2014 | 5.000 | 07/01/34 | 4607872 |
| 855000 | Pulaski County Public Facilities Board, Arkansas, Healthcare Revenue Bonds, Baptist Health, Series 2014 | 5.000 | 12/01/25 | 856311 |
| 715000 | Pulaski County Public Facilities Board, Arkansas, Healthcare Revenue Bonds, Baptist Health, Series 2014 | 5.000 | 12/01/27 | 715880 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **47** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ARKANSAS** (continued) |  |  |  |
| $1245000 | University of Arkansas, Fayetteville, Various Facilities Revenue Bonds, Refunding & Improvement Series 2019A | 5.000% | 11/01/34 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1314631 |
| 1260000 | University of Arkansas, Fayetteville, Various Facilities Revenue Bonds, Refunding & Improvement Series 2019A | 5.000 | 11/01/35 | 1326901 |
| 1000000 | University of Arkansas, Various Facilities Revenue Bonds, UAMS Campus, Refunding Series 2025 | 5.000 | 09/01/32 | 1114810 |
|  | TOTAL ARKANSAS |  |  | 61691990 |
|  | **CALIFORNIA - 4.5%** |  |  |  |
| 5000000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023C, (Mandatory Put 10/01/31) | 5.250 | 01/01/54 | 5227158 |
| 5210000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023F, (Mandatory Put 11/01/30) | 5.500 | 10/01/54 | 5613708 |
| 11020000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024C, (Mandatory Put 10/01/32) | 5.000 | 08/01/55 | 11636519 |
| 9000000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024D, (Mandatory Put 9/01/32) | 5.000 | 02/01/55 | 9699303 |
| 13375000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024G, (Mandatory Put 8/01/32) | 5.000 | 11/01/55 | 14013369 |
| 9660000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024H, (Mandatory Put 8/01/33) | 5.000 | 01/01/56 | 10484382 |
| 1430000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A | 5.000 | 06/01/30 | 1513868 |
| 1310000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A | 5.000 | 06/01/32 | 1378026 |
| 635000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A | 5.000 | 06/01/33 | 665852 |
| 350000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A | 4.000 | 06/01/34 | 347861 |
| 2190000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A | 4.000 | 06/01/36 | 2151174 |
| 3000000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A | 4.000 | 06/01/38 | 2904223 |
| 1580000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A | 4.000 | 06/01/40 | 1502109 |
| 9820000 | California Educational Facilities Authority, Revenue Bonds, Stanford University Series 2025V-5, (Mandatory Put 3/01/35) | 5.000 | 03/01/55 | 11394369 |
| 1205000 | California Health Facilities Financing Authority, Revenue Bonds, Children's Hospital Los Angeles, Series 2017A | 5.000 | 08/15/35 | 1213934 |
| 1345000 | California Health Facilities Financing Authority, Revenue Bonds, Children's Hospital Los Angeles, Series 2017A | 5.000 | 08/15/36 | 1352537 |
| 970000 | California Health Facilities Financing Authority, Revenue Bonds, Providence Saint Joseph Health, Term Rate Series 2019C, (Mandatory Put 10/01/25) | 5.000 | 10/01/39 | 975886 |
| 17140409 | California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2021-2 | 3.750 | 03/25/35 | 16772204 |
| 2813557 | California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series 2021-3 | 3.250 | 08/20/36 | 2577231 |
| 4135000 | California Infrastructure and Economic Development Bank, Revenue Bonds, California Academy of Sciences, San Francisco, Series 2024A | 3.250 | 08/01/29 | 4133565 |

---

48 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **CALIFORNIA** (continued) |  |  |  |
| $6300000 |  | California Infrastructure and Economic Development Bank, Revenue Bonds, J Paul Getty Trust, Refunding Series 2020B-2, (Mandatory Put 10/01/26) | 3.000% | 10/01/47 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6310006 |
| 5950000 |  | California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A - AGM Insured, (AMT) | 3.250 | 12/31/32 | 5537329 |
| 4000000 |  | California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A, (AMT) | 5.000 | 12/31/33 | 4091770 |
| 5000000 |  | California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A, (AMT) | 5.000 | 12/31/34 | 5105488 |
| 2500000 |  | California Municipal Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2004, (AMT), (Mandatory Put 12/01/25) | 4.100 | 12/01/44 | 2499544 |
| 2590000 | (c) | California Pollution Control Financing Authority Water Furnishing Revenue Bonds (Poseidon Resources (Channelside) LP Desalination Project), Series 2023 (AMT), (AMT) | 5.000 | 07/01/34 | 2769685 |
| 2500000 | (c) | California Pollution Control Financing Authority Water Furnishing Revenue Bonds (Poseidon Resources (Channelside) LP Desalination Project), Series 2023 (AMT), (AMT) | 5.000 | 07/01/35 | 2660147 |
| 2500000 | (c) | California Pollution Control Financing Authority Water Furnishing Revenue Bonds (Poseidon Resources (Channelside) LP Desalination Project), Series 2023 (AMT), (AMT) | 5.000 | 07/01/36 | 2647678 |
| 6055000 |  | California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2015A-2, (AMT) | 3.625 | 07/01/27 | 6018379 |
| 24490000 |  | California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2015A- 1, (AMT) | 3.375 | 07/01/25 | 24461298 |
| 12330000 |  | California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management, Inc. Project, Refunding Series 2015B-1, (AMT) | 3.000 | 11/01/25 | 12269664 |
| 2120000 |  | California State, General Obligation Bonds, Various Purpose Series 2024 | 5.250 | 08/01/44 | 2337890 |
| 5425000 |  | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A | 5.250 | 12/01/29 | 5429104 |
| 1500000 | (c) | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A | 5.000 | 12/01/27 | 1524723 |
| 2695000 | (c) | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A | 5.000 | 12/01/31 | 2730420 |
| 4200000 | (c) | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A | 5.000 | 12/01/36 | 4234224 |
| 6180000 | (c) | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A | 5.000 | 12/01/41 | 6200615 |
| 885000 | (c) | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A | 5.000 | 12/01/28 | 920510 |
| 2530000 | (c) | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A | 5.000 | 12/01/33 | 2605324 |
| 3790000 | (c) | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A | 5.250 | 12/01/38 | 3892608 |
| 1257 | (d),(g) | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005G | 5.500 | 12/31/25 | 1257 |
| 4900000 |  | Central Valley Energy Authority, California, Commodity Supply Revenue Bonds, Series 2025, (Mandatory Put 8/01/35) | 5.000 | 12/01/55 | 5307069 |
| 6000000 | (c) | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Escondido Portfolio, Social Senior Lien Series 2021A-1 | 3.000 | 06/01/48 | 4310355 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **49** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **CALIFORNIA** (continued) |  |  |  |
| $6605000 (c) | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Monterrey Station Apartments, Senior Lien Series 2021A-1 | 3.000% | 07/01/43 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5150878 |
| 4230000 (c) | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Pasadena Portfolio Social Bond, Series 2021A-1 | 2.650 | 12/01/46 | 3293811 |
| 5145000 | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Wood Creek Apartments, Senior Lien Series 2021A-1 | 3.000 | 12/01/49 | 3460062 |
| 5000000 | East County Advanced Water Purification Joint Powers Authority, California, Revenue Bonds, Green Interim Notes Subordinate Series 2024A-1 | 3.125 | 09/01/26 | 5002770 |
| 1430000 | El Dorado Union High School District, El Dorado County, California, General Obligation Bonds, Series 2020 - AGM Insured | 5.000 | 08/01/33 | 1488894 |
| 2200000 | El Dorado Union High School District, El Dorado County, California, General Obligation Bonds, Series 2020 - AGM Insured | 5.000 | 08/01/34 | 2286736 |
| 7715000 | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Bonds, Capital Appreciation Series 2021B-2 | 0.000 | 06/01/66 | 830846 |
| 4125000 | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2022A-1 | 5.000 | 06/01/51 | 4176018 |
| 1300000 | Grant Joint Union High School District, Sacramento County, California, General Obligation Bonds, Capital Appreciation Election 2006 Series 2008 - AGM Insured | 0.000 | 08/01/26 | 1246786 |
| 1000000 | Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon Hills Improvement Area A & C, Series 2014C | 5.000 | 09/01/30 | 1001153 |
| 1015000 | Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon Hills Improvement Area A & C, Series 2014C | 5.000 | 09/01/32 | 1016044 |
| 465000 | Lake Elsinore Public Financing Authority, California, Local Agency Revenue Bonds, Canyon Hills Improvement Area A & C, Series 2014C | 5.000 | 09/01/34 | 465391 |
| 2015000 | Las Virgenes Unified School District, Los Angeles County, California, General Obligation Bonds, 2006 Election, Series 2009B | 0.000 | 08/01/27 | 1880107 |
| 1000000 | Los Angeles Community College District, California, General Obligation Bonds, 2016 Election Series 2024E | 5.000 | 08/01/30 | 1117574 |
| 5000000 | Los Angeles County Metropolitan Transportation Authority, California, Measure R Sales Tax Revenue Bonds, Refunding Senior Series 2024A | 5.000 | 06/01/30 | 5571136 |
| 1220000 | Los Angeles County Metropolitan Transportation Authority, California, Measure R Sales Tax Revenue Bonds, Refunding Senior Series 2024A | 5.000 | 06/01/31 | 1379101 |
| 7415000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2022A, (AMT) | 5.000 | 05/15/26 | 7551401 |
| 2340000 | Los Angeles Unified School District, Los Angeles County, California, General Obligation Bonds, Refunding Series 2024A | 5.000 | 07/01/26 | 2409248 |
| 5000000 | Los Angeles, California, General Obligation Bonds, Tax & Revenue Anticipation Notes, Series 2024 | 5.000 | 06/26/25 | 5022570 |
| 400000 | Menifee Union School District Public Financing Authority, California, Special Tax Revenue Bonds, Series 2016A - BAM Insured | 5.000 | 09/01/29 | 403237 |
| 5440000 | Mount San Antonio Community College District, Los Angeles County, California, General Obligation Bonds, Election of 2008, Series 2013A | 5.875 | 08/01/28 | 5897281 |
| 9635000 | M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009A | 6.125 | 11/01/29 | 10218785 |
| 7670000 | M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009C | 6.125 | 11/01/29 | 8134300 |

---

50 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **CALIFORNIA** (continued) |  |  |  |
| $2280000 | Orange County Local Transportation Authority, California, Measure M2 Sales Tax Revenue Bonds, Refunding Limited Tax, Series 2025 | 5.000% | 02/15/35 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2691548 |
| 8040000 | Palomar Pomerado Health, California, General Obligation Bonds, Convertible Capital Appreciation, Election 2004 Series 2010A | 6.750 | 08/01/40 | 8521725 |
| 2005000 (f) | Peralta Community College District, Alameda County, California, General Obligation, Refunding Series 2025 | 5.000 | 08/01/36 | 2276313 |
| 5355000 | Poway Unified School District, San Diego County, California, General Obligation Bonds, School Facilities Improvement District 2007-1, Series 2011A | 0.000 | 08/01/34 | 3824115 |
| 2115000 | Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B | 0.000 | 10/01/34 | 1448614 |
| 2000000 | Riverside County Redevelopment Agency, California, Tax Allocation Bonds, Jurupa Valley Project Area, Series 2011B | 0.000 | 10/01/36 | 1246512 |
| 5000000 | San Francisco Airport Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2023A, (AMT) | 5.000 | 05/01/27 | 5170288 |
| 3000000 | San Francisco Airport Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2024A, (AMT) | 5.000 | 05/01/29 | 3166514 |
| 4020000 | Union Sanitary District Financing Authority, Alameda County, California, Revenue Bonds, Interim Notes Series 2025A | 5.000 | 03/15/30 | 4463469 |
| 3000000 | Victor Valley Union High School District, San Bernardino County, California, General Obligation Bonds, 20008 Election Series 2009A - AGC Insured | 5.750 | 08/01/31 | 3115005 |
| 1415000 | Washington Township Health Care District, California, Revenue Bonds, Refunding Series 2015A | 5.000 | 07/01/25 | 1418626 |
| 1450000 | Washington Township Health Care District, California, Revenue Bonds, Refunding Series 2015A | 3.250 | 07/01/27 | 1436024 |
| 1435000 | Washington Township Health Care District, California, Revenue Bonds, Refunding Series 2015A | 3.500 | 07/01/28 | 1413640 |
| 1355000 | Washington Township Health Care District, California, Revenue Bonds, Refunding Series 2015A | 3.750 | 07/01/29 | 1335628 |
| 2500000 | West Contra Costa Unified School District, Contra Costa County, California, General Obligation Bonds, Series 2008B | 6.000 | 08/01/25 | 2525284 |
|  | TOTAL CALIFORNIA |  |  | 342479799 |
|  | **COLORADO - 2.7%** |  |  |  |
| 2955000 | Aerotropolis Regional Transportation Authority, Colorado, Special Revenue Bonds, Series 2021 | 4.250 | 12/01/41 | 2687742 |
| 1600000 (c) | Aerotropolis Regional Transportation Authority, Colorado, Special Revenue Bonds, Series 2024 | 5.500 | 12/01/44 | 1631843 |
| 3015000 | Arapahoe County School District 6, Littleton, Colorado, General Obligation Bonds, Series 2019A | 5.500 | 12/01/32 | 3249301 |
| 1250000 | Arapahoe County School District 6, Littleton, Colorado, General Obligation Bonds, Series 2019A | 5.500 | 12/01/33 | 1344269 |
| 7677000 (c) | Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2017 | 5.000 | 12/01/29 | 7685770 |
| 1115000 | Centerra Metropolitan District 1, Loveland, Colorado, Special Revenue Bonds, Refunding & Improvement Series 2020A | 4.000 | 12/01/29 | 1077425 |
| 6460000 | Cherry Creek School District 5, Arapahoe County, Colorado, General Obligation Bonds, Series 2024 | 5.250 | 12/15/43 | 7080580 |
| 10000000 | Colorado Bridge Enterprise, Revenue Bonds, Central 70 Project, Senior Series 2017, (AMT) | 4.000 | 06/30/51 | 8572458 |
| 505000 (c) | Colorado Educational and Cultural Facilities Authority, Charter School Revenue Bonds, Loveland Classical Schools Project, Series 2016 | 3.750 | 07/01/26 | 503174 |
| 1910000 | Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Regis University Project, Refunding Series 2016 | 5.000 | 10/01/25 | 1889962 |
| 1235000 | Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Regis University Project, Refunding Series 2016 | 5.000 | 10/01/30 | 1107713 |
| 1715000 | Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Regis University Project, Refunding Series 2016 | 3.125 | 10/01/31 | 1348336 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **51** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **COLORADO** (continued) |  |  |  |
| $5000000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, AdventHealth Obligated Group, Series 2019A | 5.000% | 11/15/37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5285442 |
| 2100000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, AdventHealth Obligated Group, Series 2024A, (Mandatory Put 11/15/29) | 5.000 | 11/15/59 | 2253294 |
| 3235000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Adventist Health System/Sunbelt Obligated Group, Series 2018B, (Mandatory Put 11/20/25) | 5.000 | 11/15/48 | 3274626 |
| 4010000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2 | 5.000 | 08/01/25 | 4035097 |
| 4700000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2 | 5.000 | 08/01/36 | 4901901 |
| 10365000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019B-1, (Mandatory Put 8/01/25) | 5.000 | 08/01/49 | 10383280 |
| 33615000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019B-2, (Mandatory Put 8/01/26) | 5.000 | 08/01/49 | 34129205 |
| 2000000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Covenant Living Communities & Services, Series 2020A | 4.000 | 12/01/40 | 1888668 |
| 405000 (f) | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Covenant Living Communities & Services, Series 2025A | 5.125 | 12/01/45 | 418218 |
| 14655000 (e) | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Parkview Medical Center, Series 2016, (Pre-refunded 9/01/26) | 3.125 | 09/01/42 | 14718625 |
| 1000000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, SCL Health System, Refunding Series 2019A | 4.000 | 01/01/36 | 993700 |
| 2755000 | Colorado Housing and Finance Authority, Single Family Mortgage Bonds, Class I Series 2021E | 2.125 | 11/01/42 | 1833167 |
| 6510000 | Colorado Housing and Finance Authority, Single Family Mortgage Bonds, Class I Series 2021H | 2.000 | 05/01/42 | 4248205 |
| 10000000 | Colorado State Education Loan Program, Tax and Revenue Anticipation Notes, Series 2024B | 5.000 | 06/30/25 | 10057122 |
| 14130000 | Dawson Trails Metropolitan District 1, Colorado, In The Town of Castle Rock, Limited Tax General Obligation Capital Appreciation Turbo Bonds, Series 2024 | 0.000 | 12/01/31 | 8232610 |
| 525000 | Delta County Memorial Hospital District, Colorado, Enterprise Revenue Bonds, Refunding Series 2010 | 5.500 | 09/01/25 | 522411 |
| 1705000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2022D, (AMT) | 5.750 | 11/15/34 | 1922621 |
| 830000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2022D, (AMT) | 5.750 | 11/15/35 | 931366 |
| 5140000 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018A, (AMT) | 5.000 | 12/01/35 | 5298201 |
| 1290000 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2023B, (AMT) | 5.000 | 11/15/26 | 1321983 |
| 3590000 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2023B, (AMT) | 5.000 | 11/15/27 | 3729155 |
| 8645000 | Denver City and County, Colorado, Special Facilities Airport Revenue Bonds, United Airlines, Inc. Project, Refunding Series 2017, (AMT) | 5.000 | 10/01/32 | 8647038 |
| 1500000 | Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016 | 5.000 | 12/01/31 | 1501337 |
| 500000 | Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016 | 5.000 | 12/01/32 | 500277 |
| 645000 | Denver Convention Center Hotel Authority, Colorado, Revenue Bonds, Convention Center Hotel, Refunding Senior Lien Series 2016 | 5.000 | 12/01/33 | 645316 |
| 3000000 | Denver School District 1, Colorado, General Obligation Bonds, Series 2025B | 5.000 | 12/01/27 | 3175391 |
| 1730000 (c) | Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, 9th and Colorado Urban Redevelopment Area, Series 2018A | 5.250 | 12/01/39 | 1706886 |

---

52 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **COLORADO** (continued) |  |  |  |
| $330000 (c) | Denver Urban Renewal Authority, Colorado, Tax Increment Revenue Bonds, 9th and Colorado Urban Redevelopment Area, Series 2018A | 5.250% | 12/01/39 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;325591 |
| 1000000 | E-470 Public Highway Authority, Colorado, Senior Revenue Bonds, Series 2024A | 5.000 | 09/01/40 | 1087625 |
| 5900000 (c) | Falcon Area Water and Wastewater Authority (El Paso County, Colorado), Tap Fee Revenue Bonds, Series 2022A | 6.750 | 12/01/34 | 5713446 |
| 635000 | Independence Water & Sanitation District, Elbert County, Colorado, Special Revenue Bonds, Refunding and Improvement Series 2024 | 5.125 | 12/01/33 | 633649 |
| 1040000 (c) | Peak Metropolitan District 1, Colorado Springs, El Paso County, Colorado, Limited Tax General Obligation Bonds, Series 2021A | 4.000 | 12/01/35 | 914336 |
| 3945000 (h) | Peak Metropolitan District 3, Colorado Springs, El Paso County, Colorado, Limited Tax General Obligation Convertible Capital Appreciation Bonds, Series 2022A-2 | 0.000 | 12/01/42 | 2643659 |
| 750000 | Rampart Range Metropolitan District 5, Lone Tree, Douglas County, Colorado, Limited Tax Supported and Special Revenue Bonds, Series 2021 | 4.000 | 12/01/36 | 715029 |
| 600000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 5.000 | 01/15/28 | 622636 |
| 550000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 5.000 | 07/15/28 | 573744 |
| 750000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 5.000 | 01/15/29 | 785886 |
| 500000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 5.000 | 07/15/29 | 526109 |
| 555000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 5.000 | 01/15/30 | 585991 |
| 445000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 5.000 | 07/15/30 | 471446 |
| 1035000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 5.000 | 01/15/31 | 1099787 |
| 3400000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 4.000 | 07/15/40 | 3213900 |
| 2100000 | Riverwalk Metropolitan District 2, Glendale, Arapahoe County, Colorado, Special Revenue Bonds, Series 2022A | 4.500 | 12/01/32 | 1941313 |
| 9095000 | Riverwalk Metropolitan District 2, Glendale, Arapahoe County, Colorado, Special Revenue Bonds, Series 2022A | 5.000 | 12/01/42 | 8192558 |
| 1000000 | Spring Mesa Metropolitan District, Jefferson County, Colorado, General Obligation Bonds, Refunding Series 2015 - AGC Insured | 3.750 | 12/01/44 | 884889 |
| 600000 | Sterling Ranch Community Authority Board, Douglas County, Colorado, Limited Tax Supported and Special Revenue Bonds, Special District 4, Series 2024A | 6.125 | 12/01/39 | 616474 |
| 730000 | Transport Metropolitan District 3, In the City of Aurora, Adams County, Colorado, General Obligation Limited Bonds, Series 2021A-1 | 5.000 | 12/01/41 | 622189 |
| 1025000 | West Globeville Metropolitan District 1, Denver, Colorado, General Obligation Limited Tax Bonds, Series 2022 | 6.250 | 12/01/32 | 1011386 |
|  | TOTAL COLORADO |  |  | 207915358 |
|  | **CONNECTICUT - 1.8%** |  |  |  |
| 3400000 | Connecticut Health and Educational Facilities Authority, Chefa Revenue Bonds, Yale University, Remarketing Series 2015A | 5.000 | 07/01/35 | 3923215 |
| 4545000 | Connecticut Health and Educational Facilities Authority, Chefa Revenue Bonds, Yale University, Remarketing Series 2017B-2, (Mandatory Put 7/01/26) | 3.200 | 07/01/37 | 4546198 |
| 1785000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Nuvance Health Series 2019A | 5.000 | 07/01/33 | 1848570 |
| 4770000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Nuvance Health Series 2019A | 4.000 | 07/01/34 | 4735748 |
| 10000000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Nuvance Health Series 2019A | 4.000 | 07/01/35 | 9863463 |
| 700000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2021L-1 | 4.000 | 07/01/26 | 703994 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **53** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **CONNECTICUT** (continued) |  |  |  |
| $925000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2021L-1 | 4.000% | 07/01/27 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939523 |
| 775000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2021L-1 | 4.000 | 07/01/28 | 788170 |
| 600000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2021L-1 | 4.000 | 07/01/29 | 611277 |
| 10505000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Remarketing Series 1999U | 5.000 | 07/01/33 | 11990996 |
| 10000000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2014A, (Mandatory Put 2/10/26) | 2.800 | 07/01/48 | 9967254 |
| 10480000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale University, Series 2016A-2, (Mandatory Put 7/01/26) | 2.000 | 07/01/42 | 10329953 |
| 5920000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Series 2024B, (Mandatory Put 7/01/29) | 5.000 | 07/01/49 | 6320034 |
| 1170000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2018D-1 | 4.000 | 11/15/38 | 1150686 |
| 2020000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2019B-1 | 3.300 | 11/15/39 | 1783465 |
| 1540000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2019E-1 | 2.850 | 11/15/39 | 1235947 |
| 5570000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2019F-1 | 2.750 | 11/15/37 | 4521376 |
| 5195000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2020A-1 | 2.450 | 05/15/38 | 4084323 |
| 3060000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2020A-1 | 3.500 | 11/15/45 | 3043310 |
| 5000000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2020D-1 | 2.350 | 11/15/40 | 3696753 |
| 2850000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2020E-1 | 2.350 | 11/15/40 | 2032829 |
| 10125000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2020E-3 | 1.850 | 05/15/38 | 7119196 |
| 11105000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2021B-1 | 2.100 | 11/15/40 | 7825342 |
| 22870000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2021D-1 | 2.300 | 11/15/41 | 16308652 |
| 1000000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2025A-1 | 4.500 | 11/15/45 | 977348 |
| 2000000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Sustainability Green Series 2024D-1 | 4.550 | 11/15/44 | 1981383 |
| 1345000 | Connecticut State, General Obligation Bonds, Refunding Series 2023B | 5.000 | 08/01/25 | 1354860 |
| 2000000 | Connecticut State, General Obligation Bonds, Refunding Series 2023B | 5.000 | 08/01/26 | 2060372 |
| 5400000 | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2024B | 5.000 | 07/01/28 | 5760919 |
| 4050000 | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2024B | 5.000 | 07/01/29 | 4386098 |
|  | TOTAL CONNECTICUT |  |  | 135891254 |
|  | **DELAWARE - 0.3%** |  |  |  |
| 18440000 | Delaware Economic Development Authority, Exempt Facility Revenue Bonds, NRG Energy Project, Refunding Series 2020A, (Mandatory Put 10/01/25) | 1.250 | 10/01/45 | 18176850 |
| 1945000 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2024A | 4.450 | 07/01/44 | 1901163 |
| 1300000 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2024B | 4.200 | 07/01/39 | 1291145 |
| 695000 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2024B | 4.600 | 07/01/44 | 688156 |
| 1340000 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2024C | 4.450 | 07/01/44 | 1313146 |

---

54 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **DELAWARE** (continued) |  |  |  |
| $2105000 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2024D | 4.300% | 07/01/44 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2024119 |
| 1445000 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2025A | 4.200 | 07/01/40 | 1436326 |
|  | TOTAL DELAWARE |  |  | 26830905 |
|  | **DISTRICT OF COLUMBIA - 1.8%** |  |  |  |
| 3155000 | District of Columbia Student Dormitory Revenue Bonds, Provident Group - Howard Properties LLC Issue, Series 2013 | 5.000 | 10/01/30 | 3155038 |
| 143565000 | District of Columbia Tobacco Settlement Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2006A | 0.000 | 06/15/46 | 36513619 |
| 18585000 | District of Columbia Water and Sewer Authority, Public Utility Revenue Bonds, Refunding Subordinate Lien Series 2014C | 4.000 | 10/01/41 | 17582111 |
| 5500000 | District of Columbia, General Obligation Bonds, Series 2024A | 5.000 | 08/01/41 | 5930351 |
| 10000000 | District of Columbia, General Obligation Bonds, Series 2024A | 5.000 | 08/01/42 | 10707796 |
| 6665000 | District of Columbia, General Obligation Bonds, Series 2024A | 5.000 | 08/01/43 | 7103199 |
| 1250000 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital Improvement Projects, Refunding First Senior Lien Series 2019A | 5.000 | 10/01/33 | 1316921 |
| 2830000 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital Improvement Projects, Refunding First Senior Lien Series 2019A | 5.000 | 10/01/34 | 2975932 |
| 1625000 | Metropolitan Washington Airports Authority, Virginia, Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital Improvement Projects, Refunding First Senior Lien Series 2019A | 5.000 | 10/01/36 | 1699933 |
| 4915000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2015B, (AMT) | 5.000 | 10/01/35 | 4933450 |
| 5575000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2018A, (AMT) | 5.000 | 10/01/26 | 5720762 |
| 5000000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2019A, (AMT) | 5.000 | 10/01/31 | 5243548 |
| 8300000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2021A, (AMT) | 5.000 | 10/01/27 | 8634697 |
| 2460000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2023A, (AMT) | 5.000 | 10/01/33 | 2618752 |
| 5000000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2023A, (AMT) | 5.000 | 10/01/34 | 5296614 |
| 2440000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2023A, (AMT) | 5.000 | 10/01/35 | 2571968 |
| 3620000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2024A, (AMT) | 5.000 | 10/01/27 | 3765977 |
| 5795000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2024A, (AMT) | 5.000 | 10/01/28 | 6086479 |
| 2835000 | Washington Metropolitan Area Transit Authority, Dedicated Revenue Bonds, Green Series 2021A | 5.000 | 07/15/27 | 2974815 |
|  | TOTAL DISTRICT OF COLUMBIA |  |  | 134831962 |
|  | **FLORIDA - 3.3%** |  |  |  |
| 11195000 | Broward County School Board, Florida, Certificates of Participation, Series 2022A | 5.000 | 07/01/26 | 11490011 |
| 10000000 | Broward County, Florida, Airport System Revenue Bonds, Series 2015A, (AMT) | 5.000 | 10/01/34 | 10032590 |
| 15135000 | Broward County, Florida, Airport System Revenue Bonds, Series 2015A, (AMT) | 5.000 | 10/01/35 | 15178439 |
| 5500000 | Broward County, Florida, Airport System Revenue Bonds, Series 2019A, (AMT) | 5.000 | 10/01/34 | 5716637 |
| 3315000 | Broward County, Florida, Port Facilities Revenue Bonds, Series 2019B, (AMT) | 2.250 | 09/01/29 | 3140208 |
| 1375000 | Cape Coral, Florida, Utility Improvement Assessment Bonds, Refunding Various Areas Series 2017 - AGM Insured | 2.750 | 09/01/25 | 1370965 |
| 865000 | Cape Coral, Florida, Utility Improvement Assessment Bonds, Refunding Various Areas Series 2017 - AGM Insured | 2.750 | 09/01/26 | 861783 |
| 470000 | Cape Coral, Florida, Utility Improvement Assessment Bonds, Refunding Various Areas Series 2017 - AGM Insured | 3.000 | 09/01/27 | 467071 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **55** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **FLORIDA** (continued) |  |  |  |
| $9685000 | Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2015 | 5.000% | 10/01/32 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9767402 |
| 7325000 | Cape Coral, Florida, Water and Sewer Revenue Bonds, Refunding Series 2015 | 5.000 | 10/01/33 | 7387322 |
| 4195000 (c) | Capital Trust Agency, Florida, Educational Facilities Lease Revenue Bonds, Franklin Academy Projects, Series 2020 | 5.000 | 12/15/35 | 4165148 |
| 215000 (c) | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Classical Preparatory Incorporated Project, Series 2017A | 5.000 | 06/15/27 | 216303 |
| 1155000 | Florida Development Finance Corporation, Educational Facilities Revenue Bonds, Mater Academy Projects, Series 2020A | 5.000 | 06/15/35 | 1169310 |
| 1000000 (c) | Florida Development Finance Corporation, Florida, Solid Waste Disposal Revenue Bonds, GFL Solid Waste Southeast LLC Project Series 2024A, (AMT), (Mandatory Put 10/01/31) | 4.375 | 10/01/54 | 1001275 |
| 4870000 (c) | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT), (Mandatory Put 7/15/28) | 12.000 | 07/15/32 | 5166797 |
| 22000000 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT) | 5.000 | 07/01/38 | 21971189 |
| 12690000 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT) | 5.000 | 07/01/41 | 12348969 |
| 11000000 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT) | 5.000 | 07/01/44 | 11043284 |
| 3570000 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT) | 5.250 | 07/01/47 | 3586894 |
| 30000000 (c) | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Series 2025A, (AMT), (Mandatory Put 8/13/25) | 8.250 | 07/01/57 | 31154784 |
| 1355000 | Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University Project, Refunding Series 2016 | 5.000 | 04/01/32 | 1370351 |
| 1885000 | Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University Project, Refunding Series 2016 | 5.000 | 04/01/33 | 1904613 |
| 6015000 | Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University Project, Refunding Series 2016 | 5.000 | 04/01/34 | 6074412 |
| 4290000 | Florida Higher Educational Facilities Financing Authority, Revenue Bonds, Nova Southeastern University Project, Refunding Series 2016 | 5.000 | 04/01/35 | 4330579 |
| 915000 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2017-1 | 3.600 | 07/01/37 | 852058 |
| 1915000 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2018-2 | 4.050 | 07/01/38 | 1868732 |
| 4470000 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2019-1 | 3.000 | 07/01/39 | 3765234 |
| 7550000 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2024-5 | 4.450 | 07/01/44 | 7401083 |
| 7890000 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Social Series 2021-2 | 2.050 | 07/01/41 | 5285490 |
| 1505000 | Florida Municipal Power Agency, Power Supply Revenue Bonds, All Requirements Project, Refunding Series 2016A | 5.000 | 10/01/30 | 1543458 |
| 10180000 | Florida State Board of Education, Public Education Capital Outlay Bonds, Refunding Series 2015E | 4.000 | 06/01/34 | 10199132 |
| 1980000 | Hillsborough County Industrial Development Authority, Florida, Health System Revenue Bonds, BayCare Health System Series 2024C | 5.000 | 11/15/34 | 2214877 |
| 3375000 | Hillsborough County, Florida, Solid Waste and Resource Recovery Revenue Bonds, Refunding Series 2016A, (AMT) | 4.000 | 09/01/34 | 3376108 |

---

56 *See Notes To Financial Statements*

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **FLORIDA** (continued) |  |  |  |
| $2000000 | JEA, Florida, Electric System Revenue Bonds, Series Three 2024A | 5.000% | 10/01/30 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2193527 |
| 5105000 | JEA, Florida, Electric System Revenue Bonds, Subordinated Series Three 2020A | 5.000 | 10/01/27 | 5355928 |
| 5060000 | Miami-Dade County Educational Facilities Authority, Florida, Revenue Bonds, University of Miami, Series 2018A | 5.000 | 04/01/53 | 5110096 |
| 2175000 | Miami-Dade County Expressway Authority, Florida, Toll System Revenue Bonds, Refunding Series 2014B | 5.000 | 07/01/27 | 2193464 |
| 3000000 | Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2024A, (AMT) | 5.000 | 10/01/27 | 3120975 |
| 7350000 | Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2024A, (AMT) | 5.000 | 10/01/29 | 7778473 |
| 7645000 | Orange County Health Facilities Authority Revenue Bonds, Florida, Presbyterian Retirement Communities Obligated Group Project Series 2023A | 4.000 | 08/01/36 | 7417444 |
| 4010000 | Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th Cent Contract Payments, Refunding Senior Series 2017A - AGM Insured | 5.000 | 11/01/32 | 4156443 |
| 2015000 | Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th Cent Contract Payments, Refunding Senior Series 2017A - AGM Insured | 5.000 | 11/01/34 | 2080073 |
| 1000000 | Osceola County, Florida, Transportation Revenue Bonds, Osceola Parkway, Refunding & Improvement Series 2019A-1 | 5.000 | 10/01/49 | 1019028 |
| 585000 (c) | Sawyers Landing Community Development District, Florida, Special Assessment Revenue Bonds, Series 2021 | 4.125 | 05/01/41 | 522595 |
| 315000 (c) | Seminole County Industrial Development Authority, Florida, Educational Facilities Revenue Bonds, Galileo Schools for Gifted Learning, Series 2021A | 4.000 | 06/15/36 | 294582 |
| 425000 (c) | Seminole County Industrial Development Authority, Florida, Educational Facilities Revenue Bonds, Galileo Schools for Gifted Learning, Series 2021A | 4.000 | 06/15/41 | 372697 |
| 4895000 | South Florida Water Management District, Certificates of Participation, Series 2015 | 5.000 | 10/01/33 | 4980039 |
| 1870000 | Tampa, Florida, Capital Improvement Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Series 2020A | 0.000 | 09/01/34 | 1255354 |
| 1500000 (c) | Village Community Development District 15, Florida, Special Assessment Revenue Bonds, Series 2024 | 4.000 | 05/01/34 | 1476431 |
|  | TOTAL FLORIDA |  |  | 256749657 |
|  | **GEORGIA - 2.1%** |  |  |  |
| 1000000 (c) | Atlanta Development Authority, Georgia, Revenue Bonds, Westside Gulch Area Project, Senior Series 2024A-1 | 5.000 | 04/01/34 | 999100 |
| 6000000 | Atlanta, Georgia, Airport Passenger Facilities Charge and General Revenue Bonds, Subordinate Lien Green Series 2023E, (AMT) | 5.000 | 07/01/33 | 6458254 |
| 7000000 | Atlanta, Georgia, Airport Passenger Facilities Charge and General Revenue Bonds, Subordinate Lien Green Series 2023E, (AMT) | 5.000 | 07/01/34 | 7516165 |
| 7000000 | Atlanta, Georgia, Airport Passenger Facilities Charge and General Revenue Bonds, Subordinate Lien Green Series 2023E, (AMT) | 5.000 | 07/01/35 | 7459790 |
| 1000000 | Burke County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company Vogtle Plant, First Series 2013, (Mandatory Put 3/12/27) | 3.375 | 11/01/53 | 1002513 |
| 1315000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2018A | 3.600 | 12/01/33 | 1282575 |
| 1235000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2018A | 3.850 | 12/01/38 | 1155494 |
| 2940000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2019A | 3.050 | 12/01/34 | 2678461 |
| 4000000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2019A | 3.350 | 12/01/39 | 3555610 |
| 8285000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2019B | 2.950 | 12/01/39 | 6847654 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **57** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **GEORGIA** (continued) |  |  |  |
| $4250000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2021A | 2.400% | 12/01/41 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3089432 |
| 960000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2023A | 4.150 | 12/01/38 | 933520 |
| 4230000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2024A | 4.450 | 12/01/44 | 4124582 |
| 2725000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2024C | 4.000 | 12/01/39 | 2602667 |
| 5000000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2024C | 4.400 | 12/01/44 | 4900256 |
| 5765000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Sub Series 2015A-1 | 3.700 | 12/01/35 | 5517694 |
| 5000000 | Georgia State, General Obligation Bonds, Series 2015A | 4.000 | 02/01/32 | 5001440 |
| 5000000 | Georgia State, General Obligation Bonds, Series 2015A | 4.000 | 02/01/33 | 5001132 |
| 3665000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2021A, (Mandatory Put 9/01/27) | 4.000 | 07/01/52 | 3696044 |
| 10650000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2022A, (Mandatory Put 12/01/29) | 4.000 | 09/01/52 | 10694744 |
| 12160000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2022B, (Mandatory Put 6/01/29) | 5.000 | 12/01/52 | 12634445 |
| 17400000 (c) | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2022C, (Mandatory Put 11/01/27) | 4.000 | 08/01/52 | 17370079 |
| 5000000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2023B, (Mandatory Put 3/01/30) | 5.000 | 07/01/53 | 5252279 |
| 4000000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2023E-1, (Mandatory Put 6/01/31) | 5.000 | 12/01/53 | 4234556 |
| 5000000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2024A-1, (Mandatory Put 9/01/31) | 5.000 | 05/01/54 | 5308725 |
| 13210000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2024D, (Mandatory Put 4/01/31) | 5.000 | 04/01/54 | 14005642 |
| 3000000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2024E, (Mandatory Put 12/01/32) | 5.000 | 05/01/55 | 3174887 |
| 12000000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2025A, (Mandatory Put 6/01/32) | 5.000 | 06/01/55 | 12811950 |
|  | TOTAL GEORGIA |  |  | 159309690 |
|  | **GUAM - 0.2%** |  |  |  |
| 400000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024A | 5.000 | 07/01/26 | 409039 |
| 450000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024A | 5.000 | 07/01/27 | 467265 |
| 800000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024A | 5.000 | 07/01/28 | 841884 |
| 1250000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024A | 5.000 | 07/01/30 | 1339498 |
| 1095000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024A | 5.000 | 07/01/35 | 1178295 |
| 1450000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024A | 5.000 | 07/01/36 | 1562696 |
| 1350000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024A | 5.000 | 07/01/37 | 1447270 |
| 630000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024A | 5.000 | 07/01/38 | 671977 |
| 500000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024B | 5.000 | 07/01/25 | 502213 |
| 650000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024B | 5.000 | 07/01/26 | 664688 |
| 500000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024B | 5.000 | 07/01/27 | 519184 |
| 1000000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024B | 5.000 | 07/01/28 | 1052356 |
| 1000000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024B | 5.000 | 07/01/29 | 1062401 |

---

58 *See Notes To Financial Statements*

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

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

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **GUAM** (continued) |  |  |  |
| $1100000 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2024B | 5.000% | 07/01/30 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1178758 |
|  | TOTAL GUAM |  |  | 12897524 |
|  | **HAWAII - 0.7%** |  |  |  |
| 21210000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric Company, Inc. and Subsidiary Projects, Refunding Series 2019 | 3.200 | 07/01/39 | 17645539 |
| 6500000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric Company, Inc. and Subsidiary Projects, Series 2017A, (AMT) | 3.100 | 05/01/26 | 6362707 |
| 4160000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Queens Health Systems, Series 2015A | 5.000 | 07/01/26 | 4179830 |
| 4510000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Queens Health Systems, Series 2015A | 5.000 | 07/01/27 | 4529271 |
| 7050000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Queens Health Systems, Series 2015A | 5.000 | 07/01/28 | 7079634 |
| 7825000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Queens Health Systems, Series 2015A | 5.000 | 07/01/29 | 7856168 |
| 1245000 (f) | Honolulu City and County, Hawaii, Wastewater System Revenue Bonds, First Bond Resolution, Senior Refunding Series 2025A | 5.000 | 07/01/36 | 1406442 |
| 1300000 (f) | Honolulu City and County, Hawaii, Wastewater System Revenue Bonds, First Bond Resolution, Senior Refunding Series 2025A | 5.000 | 07/01/37 | 1457748 |
|  | TOTAL HAWAII |  |  | 50517339 |
|  | **IDAHO - 0.3%** |  |  |  |
| 310000 | Boise City, Idaho, Airport Revenue Bonds, Aircraft Maintenance Facilities Project, Subordinate Series 2015, (AMT) | 3.750 | 09/01/32 | 298984 |
| 1455000 | Boise City, Idaho, Airport Revenue Bonds, Employee Parking Facilities Project, Series 2021B, (AMT) | 4.000 | 09/01/46 | 1299300 |
| 1210000 | Boise City, Idaho, Airport Revenue Bonds, Public Parking Facilities Project, Refunding Series 2021A | 5.000 | 09/01/46 | 1255959 |
| 1000000 (c) | Idaho Housing and Finance Association, Nonprofit Facilities Revenue Bonds, Victory Charter School, Inc. Project, Refunding Series 2016A | 5.000 | 07/01/39 | 956560 |
| 895000 | Idaho Housing and Finance Association, Single Family Mortgage Revenue Bonds, Series 2019C | 2.900 | 07/01/39 | 740275 |
| 4975000 | Idaho Housing and Finance Association, Single Family Mortgage Revenue Bonds, Series 2024A | 4.450 | 01/01/44 | 4870291 |
| 12230000 (c) | Spring Valley Community Infrastructure District 1, Eagle, Idaho, Special Assessment Bonds, Series 2021 | 3.750 | 09/01/51 | 11248201 |
|  | TOTAL IDAHO |  |  | 20669570 |
|  | **ILLINOIS - 8.3%** |  |  |  |
| 4700000 | Berwyn, Cook County, Illinois, General Obligation Bonds, Series 2014A | 5.000 | 12/01/34 | 4514683 |
| 940000 | Cary, Illinois, Special Tax Bonds, Special Service Area 1, Refunding Series 2016 - BAM Insured | 2.700 | 03/01/26 | 933853 |
| 1026000 | Cary, Illinois, Special Tax Bonds, Special Service Area 1, Refunding Series 2016 - BAM Insured | 2.900 | 03/01/28 | 1005765 |
| 943000 | Cary, Illinois, Special Tax Bonds, Special Service Area 1, Refunding Series 2016 - BAM Insured | 3.050 | 03/01/30 | 926740 |
| 930000 | Cary, Illinois, Special Tax Bonds, Special Service Area 2, Refunding Series 2016 - BAM Insured | 2.700 | 03/01/26 | 923919 |
| 1391000 | Cary, Illinois, Special Tax Bonds, Special Service Area 2, Refunding Series 2016 - BAM Insured | 2.900 | 03/01/28 | 1363566 |
| 1418000 | Cary, Illinois, Special Tax Bonds, Special Service Area 2, Refunding Series 2016 - BAM Insured | 3.050 | 03/01/30 | 1393549 |
| 29585000 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2016 | 6.000 | 04/01/46 | 30256982 |
| 1860000 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2017 | 5.000 | 04/01/33 | 1889732 |
| 1000000 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2017 | 5.000 | 04/01/42 | 1003772 |
| 1150000 | Chicago Board of Education, Illinois, Dedicated Capital Improvement Tax Revenue Bonds, Series 2018 | 5.000 | 04/01/37 | 1171736 |

---

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| | |
|:---|:---|
| See Notes To Financial Statements | **59** |

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------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ILLINOIS** (continued) |  |  |  |
| $10900000 (c) | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017B | 7.000% | 12/01/42 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11497624 |
| 3125000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017C | 5.000 | 12/01/27 | 3198523 |
| 10425000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017C | 5.000 | 12/01/30 | 10492501 |
| 2600000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017D | 5.000 | 12/01/31 | 2612743 |
| 2700000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017G | 5.000 | 12/01/34 | 2681871 |
| 8925000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017H | 5.000 | 12/01/36 | 8702628 |
| 1000000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2018A | 5.000 | 12/01/33 | 1010110 |
| 1500000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2018A | 5.000 | 12/01/35 | 1500263 |
| 2545000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2019A | 0.000 | 12/01/26 | 2382265 |
| 3930000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2019B | 5.000 | 12/01/33 | 3995975 |
| 19585000 (c) | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2017A | 7.000 | 12/01/46 | 20550650 |
| 3000000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2023A | 5.000 | 12/01/30 | 3106573 |
| 10110000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Series 2023A | 5.500 | 12/01/31 | 10764300 |
| 5950000 | Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue Bonds, Second Lien Series 2020A | 5.000 | 12/01/45 | 6016150 |
| 6000000 | Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Senior Lien Series 2018B | 5.000 | 01/01/37 | 6270683 |
| 1000000 | Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Senior Lien Series 2022A | 4.500 | 01/01/48 | 953548 |
| 3320000 | Chicago, Illinois, General Obligation Bonds, Chicago Works Series 2023A | 5.250 | 01/01/38 | 3475409 |
| 2045000 (e) | Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C, (ETM) | 5.000 | 01/01/26 | 2077298 |
| 4740000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2023A - BAM Insured | 5.000 | 01/01/29 | 4973651 |
| 7965000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2023A - BAM Insured | 5.000 | 01/01/30 | 8414505 |
| 715000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2024A | 5.000 | 01/01/26 | 725758 |
| 1100000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2024A | 5.000 | 01/01/27 | 1125719 |
| 1250000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2024A | 5.000 | 01/01/28 | 1295906 |
| 1500000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2024A | 5.000 | 01/01/29 | 1568577 |
| 1000000 | Cook County Community Consolidated School District 64, Illinois, Park Ridge, General Obligation Bonds, School Series 2025 | 5.000 | 12/01/43 | 1057857 |
| 2500000 | Cook County Community Consolidated School District 64, Illinois, Park Ridge, General Obligation Bonds, School Series 2025 | 4.250 | 12/01/47 | 2367774 |
| 3440000 | Cook County, Illinois, Sales Tax Revenue Bonds, Series 2021A | 4.000 | 11/15/41 | 3273162 |
| 1150000 | DuPage County Forest Preserve District, Illinois, General Obligation Bonds, Limited Tax Series 2025 | 5.000 | 11/01/28 | 1229239 |
| 4010000 | DuPage County School District 58 Downers Grove, Illinois, General Obligation Bonds, School Series 2022 | 5.250 | 12/15/39 | 4383157 |
| 1000000 | Effingham and Clay Counties Community Unit School District Number 40, Effingham, Illinois, General Obligation Bonds, School Series 2019A - BAM Insured | 4.000 | 12/01/30 | 1021386 |

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60 *See Notes To Financial Statements*

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

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

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ILLINOIS** (continued) |  |  |  |
| $1000000 | Effingham and Clay Counties Community Unit School District Number 40, Effingham, Illinois, General Obligation Bonds, School Series 2019A - BAM Insured | 4.000% | 12/01/34 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006382 |
| 1395000 | Effingham and Clay Counties Community Unit School District Number 40, Effingham, Illinois, General Obligation Bonds, School Series 2019A - BAM Insured | 4.000 | 12/01/35 | 1396943 |
| 1455000 | Effingham and Clay Counties Community Unit School District Number 40, Effingham, Illinois, General Obligation Bonds, School Series 2019A - BAM Insured | 4.000 | 12/01/36 | 1448473 |
| 2975000 | Elmhurst Park District, DuPage and Cook Counties, Illinois, General Obligation Bonds, Series 2025 | 4.125 | 12/15/45 | 2819851 |
| 1016000 | Huntley, Illinois, Special Tax Bonds, Special Service Area 9, Refunding Series 2017 - BAM Insured | 3.000 | 03/01/26 | 1015653 |
| 1045000 | Huntley, Illinois, Special Tax Bonds, Special Service Area 9, Refunding Series 2017 - BAM Insured | 3.150 | 03/01/27 | 1045644 |
| 4560000 | Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Refunding Series 2008A-2 | 4.000 | 11/01/30 | 4618350 |
| 4965000 | Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Refunding Series 2008A-3 | 5.000 | 11/01/30 | 5136133 |
| 6660000 | Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Series 2008A-1 | 4.000 | 11/01/30 | 6745424 |
| 6400000 | Illinois Finance Authority, Revenue Bonds, Ann & Robert H. Lurie Children's Hospital of Chicago, Refunding Series 2017 | 4.000 | 08/15/39 | 6055713 |
| 2105000 | Illinois Finance Authority, Revenue Bonds, Art Institute of Chicago, Series 2016 | 5.000 | 03/01/30 | 2137746 |
| 915000 (e) | Illinois Finance Authority, Revenue Bonds, Ascension Health Alliance, Series 2016C, (Pre-refunded 2/15/27) | 4.000 | 02/15/41 | 930046 |
| 28095000 | Illinois Finance Authority, Revenue Bonds, Ascension Health Alliance, Series 2016C | 4.000 | 02/15/41 | 26122950 |
| 2375000 | Illinois Finance Authority, Revenue Bonds, Ascension Health/ fkaPresence Health Network, Series 2016C | 3.625 | 02/15/32 | 2342890 |
| 10000000 | Illinois Finance Authority, Revenue Bonds, Ascension Health/ fkaPresence Health Network, Series 2016C | 3.750 | 02/15/34 | 9771451 |
| 70000 (e) | Illinois Finance Authority, Revenue Bonds, Ascension Health/ fkaPresence Health Network, Series 2016C, (Pre-refunded 2/15/27) | 4.000 | 02/15/41 | 71151 |
| 1505000 (e) | Illinois Finance Authority, Revenue Bonds, Ascension Health/ fkaPresence Health Network, Series 2016C, (Pre-refunded 2/15/27) | 4.000 | 02/15/41 | 1529747 |
| 2505000 | Illinois Finance Authority, Revenue Bonds, Memorial Health System, Series 2019 | 5.000 | 04/01/31 | 2643226 |
| 1300000 | Illinois Finance Authority, Revenue Bonds, Memorial Health System, Series 2019 | 5.000 | 04/01/32 | 1369006 |
| 4500000 | Illinois Finance Authority, Revenue Bonds, Memorial Health System, Series 2019 | 5.000 | 04/01/34 | 4708392 |
| 7610000 | Illinois Finance Authority, Revenue Bonds, Memorial Health System, Series 2019 | 5.000 | 04/01/36 | 7922642 |
| 2410000 (e) | Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Refunding Series 2016A, (Pre-refunded 7/01/26) | 5.000 | 07/01/33 | 2476809 |
| 3170000 (e) | Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Refunding Series 2016A, (Pre-refunded 7/01/26) | 5.000 | 07/01/34 | 3257877 |
| 5000000 (e) | Illinois Finance Authority, Revenue Bonds, Northwest Community Hospital, Refunding Series 2016A, (Pre-refunded 7/01/26) | 5.000 | 07/01/35 | 5138607 |
| 1000000 | Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A | 5.000 | 11/15/27 | 1009659 |
| 1890000 | Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A | 5.000 | 11/15/28 | 1907144 |
| 2000000 | Illinois Finance Authority, Revenue Bonds, OSF Healthcare System, Series 2015A | 5.000 | 11/15/29 | 2016913 |
| 1545000 | Illinois Finance Authority, Revenue Bonds, Roosevelt University, Series 2007 | 5.400 | 04/01/27 | 1539190 |
| 2900000 | Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2015A | 5.000 | 11/15/29 | 2904749 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **61** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ILLINOIS** (continued) |  |  |  |
| $1500000 | Illinois Finance Authority, Revenue Bonds, Rush University Medical Center Obligated Group, Series 2015B | 5.000% | 11/15/28 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1502679 |
| 2220000 | Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C | 5.000 | 08/15/35 | 2226752 |
| 5750000 | Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital and Medical Centers, Refunding Series 2015C | 5.000 | 08/15/44 | 5713851 |
| 1545000 | Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Refunding Series 2017C | 5.000 | 03/01/32 | 1573523 |
| 2750000 | Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Refunding Series 2017C | 5.000 | 03/01/33 | 2796008 |
| 1975000 | Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Refunding Series 2017C | 5.000 | 03/01/34 | 2003500 |
| 1815000 | Illinois Finance Authority, Revenue Bonds, Southern Illinois Healthcare Enterprises, Inc., Refunding Series 2017C | 4.000 | 03/01/35 | 1730931 |
| 3125000 | Illinois Finance Authority, Revenue Bonds, University of Chicago Medicine, Series 2022A, (Mandatory Put 8/15/27) | 5.000 | 08/15/52 | 3239748 |
| 13320000 | Illinois Finance Authority, Revenue Bonds, University of Chicago Medicine, Series 2022B-1, (Mandatory Put 8/15/25) | 5.000 | 08/15/52 | 13344135 |
| 13360000 | Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2014A | 4.000 | 10/01/38 | 13031023 |
| 5080000 | Illinois Finance Authority, Revenue Bonds, University of Chicago, Series 2021B, (Mandatory Put 8/15/31) | 5.000 | 08/15/53 | 5468476 |
| 7500000 (c) | Illinois Finance Authority, Surface Freight Transfer Facilities Revenue Bonds, CenterPointJoliet Terminal Railroad Project, Series 2016, (AMT), (Mandatory Put 12/31/34) | 4.125 | 12/01/43 | 7382623 |
| 13655000 (c) | Illinois Finance Authority, Surface Freight Transfer Facilities Revenue Bonds, CenterPointJoliet Terminal Railroad Project, Series 2020, (AMT), (Mandatory Put 12/31/34) | 4.125 | 12/01/50 | 13432739 |
| 21355000 | Illinois Housing Development Authority, Revenue Bonds, Green Series 2021B | 2.150 | 10/01/41 | 14799508 |
| 560000 | Illinois Housing Development Authority, Revenue Bonds, Series 2019D | 2.950 | 10/01/39 | 464486 |
| 5435000 | Illinois Housing Development Authority, Revenue Bonds, Social Series 2024I | 4.450 | 10/01/44 | 5326281 |
| 1000000 | Illinois State, General Obligation Bonds, June Series 2016 | 5.000 | 06/01/28 | 1017617 |
| 3090000 | Illinois State, General Obligation Bonds, June Series 2016 | 3.500 | 06/01/29 | 3040873 |
| 2180000 | Illinois State, General Obligation Bonds, May Refunding Series 2023D | 5.000 | 07/01/25 | 2190231 |
| 12200000 | Illinois State, General Obligation Bonds, November Series 2016 | 5.000 | 11/01/26 | 12543179 |
| 2820000 | Illinois State, General Obligation Bonds, November Series 2017C | 5.000 | 11/01/29 | 2924266 |
| 1635000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/25 | 1652769 |
| 3575000 | Illinois State, General Obligation Bonds, November Series 2017D | 3.250 | 11/01/26 | 3572047 |
| 10105000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/26 | 10392405 |
| 20375000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/27 | 21245402 |
| 1560000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/28 | 1621278 |
| 2000000 | Illinois State, General Obligation Bonds, November Series 2019B | 5.000 | 11/01/30 | 2119911 |
| 4000000 | Illinois State, General Obligation Bonds, Refunding June Series 2022B | 5.000 | 03/01/26 | 4068390 |
| 3560000 | Illinois State, General Obligation Bonds, Refunding October Series 2024 | 5.000 | 02/01/27 | 3673709 |
| 2000000 | Illinois State, General Obligation Bonds, Refunding October Series 2024 | 5.000 | 02/01/28 | 2090057 |
| 2205000 | Illinois State, General Obligation Bonds, Refunding October Series 2024 | 5.000 | 02/01/29 | 2328259 |
| 1600000 | Illinois State, General Obligation Bonds, Refunding September Series 2018B | 5.000 | 10/01/32 | 1665711 |
| 2035000 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2016A | 5.000 | 12/01/31 | 2058007 |
| 11400000 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2016A | 5.000 | 12/01/32 | 11524262 |
| 5800000 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Series 2024A | 5.000 | 01/01/36 | 6432638 |

---

62 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ILLINOIS** (continued) |  |  |  |
| $9860000 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2014C | 5.000% | 01/01/36 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9868974 |
| 10000000 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2014C | 5.000 | 01/01/39 | 10023292 |
| 12615000 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015A | 5.000 | 01/01/40 | 12655093 |
| 3060000 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Senior Lien Series 2015B | 5.000 | 01/01/40 | 3083528 |
| 5035000 | Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2001 - FGIC Insured | 6.000 | 11/01/26 | 5147366 |
| 12020000 | Kendall, Kane, and Will Counties Community Unit School District 308 Oswego, Illinois, General Obligation Bonds, Refunding School Series 2016 | 5.000 | 02/01/34 | 12139502 |
| 3465000 | Kendall, Kane, and Will Counties Community Unit School District 308 Oswego, Illinois, General Obligation Bonds, Refunding School Series 2016 | 5.000 | 02/01/35 | 3497743 |
| 1485000 | LaSalle and Bureau Counties High School District 120 LaSalle- Peru, Illinois, General Obligation Bonds, School Building Series 2017 - BAM Insured | 5.000 | 12/01/30 | 1537838 |
| 1165000 | LaSalle and Bureau Counties High School District 120 LaSalle- Peru, Illinois, General Obligation Bonds, School Building Series 2017 - BAM Insured | 5.000 | 12/01/31 | 1205680 |
| 1645000 | LaSalle and Bureau Counties High School District 120 LaSalle- Peru, Illinois, General Obligation Bonds, School Building Series 2017 - BAM Insured | 5.000 | 12/01/32 | 1701081 |
| 1725000 | LaSalle and Bureau Counties High School District 120 LaSalle- Peru, Illinois, General Obligation Bonds, School Building Series 2017 - BAM Insured | 5.000 | 12/01/33 | 1782383 |
| 1815000 | LaSalle and Bureau Counties High School District 120 LaSalle- Peru, Illinois, General Obligation Bonds, School Building Series 2017 - BAM Insured | 5.000 | 12/01/34 | 1873879 |
| 1845000 | LaSalle County, Illinois, General Obligation Bonds, Self-Insurance Series 2019 | 4.000 | 12/01/27 | 1885644 |
| 1925000 | LaSalle County, Illinois, General Obligation Bonds, Self-Insurance Series 2019 | 4.000 | 12/01/28 | 1967697 |
| 1560000 | LaSalle County, Illinois, General Obligation Bonds, Self-Insurance Series 2019 | 4.000 | 12/01/29 | 1591325 |
| 2430000 | Madison County Community Unit School District 7 Edwardsville, Illinois, General Obligation Bonds, Series 2017A | 5.000 | 12/01/28 | 2455936 |
| 2500000 | Madison County Community Unit School District 7 Edwardsville, Illinois, General Obligation Bonds, Series 2017A | 5.000 | 12/01/29 | 2525856 |
| 1500000 | Madison, Macoupin, Jersey, Calhoun, Morgan, Scott, and Greene Counties Community College District 536, Illinois, General Obligation Bonds, Lewis & Clark Community College, Refunding Series 2017A - AGM Insured | 5.000 | 11/01/31 | 1547089 |
| 4380000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Refunding Series 2020A | 4.000 | 06/15/50 | 3778149 |
| 1905000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2012B | 0.000 | 12/15/51 | 480948 |
| 1810000 (h) | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B | 0.000 | 12/15/37 | 1366234 |
| 9045000 (h) | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B | 0.000 | 12/15/42 | 6542539 |
| 6000000 (h) | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B | 0.000 | 12/15/47 | 4228786 |
| 1000000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2020B | 5.000 | 06/15/42 | 1026377 |
| 9580000 | Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A - NPFG Insured | 0.000 | 12/15/29 | 8043580 |
| 3970000 | Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A | 0.000 | 06/15/30 | 3266233 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **63** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ILLINOIS** (continued) |  |  |  |
| $15000000 | Metropolitan Pier and Exposition Authority, Illinois, Revenue Bonds, McCormick Place Expansion Project, Series 2002A - AGM Insured | 0.000% | 12/15/40 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7435714 |
| 345000 | Montgomery, Illinois, Lakewood Creek Project Special Assessment Bonds, Series 2018 - BAM Insured | 3.100 | 03/01/26 | 345210 |
| 400000 | Montgomery, Illinois, Lakewood Creek Project Special Assessment Bonds, Series 2018 - BAM Insured | 3.200 | 03/01/27 | 398461 |
| 275000 | Montgomery, Illinois, Lakewood Creek Project Special Assessment Bonds, Series 2018 - BAM Insured | 3.300 | 03/01/28 | 272722 |
| 471000 | Montgomery, Illinois, Lakewood Creek Project Special Assessment Bonds, Series 2018 - BAM Insured | 3.450 | 03/01/30 | 468227 |
| 320000 | Morton Grove, Illinois, Tax Increment Revenue Bonds, Sawmill Station Redevelopment Project, Senior Lien Series 2019 | 4.250 | 01/01/29 | 312322 |
| 325000 | Northern Illinois University, Auxiliary Facilities System Revenue Bonds, Series 2021 - BAM Insured | 5.000 | 10/01/27 | 336919 |
| 650000 | Northern Illinois University, Auxiliary Facilities System Revenue Bonds, Series 2021 - BAM Insured | 5.000 | 10/01/28 | 679421 |
| 1491000 | Plano, Illinois, Special Tax Bonds, Special Service Area 1 & 2 Lakewood Springs Project, Refunding Series 2014 - AGM Insured | 5.000 | 03/01/29 | 1492704 |
| 8985000 (e) | Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2017, (ETM) | 5.000 | 06/01/25 | 9015130 |
| 3040000 (e) | Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2017, (Pre-refunded 6/01/26) | 5.000 | 06/01/27 | 3115277 |
| 1283000 | Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 - BAM Insured | 3.700 | 03/01/29 | 1286455 |
| 1073000 | Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 - BAM Insured | 3.800 | 03/01/30 | 1076694 |
| 2187000 | Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 - BAM Insured | 4.000 | 03/01/33 | 2204618 |
| 2125000 | Sales Tax Securitization Corporation, Illinois, Sales Tax Securitization Bonds, Refunding Second Lien Series 2024A | 5.000 | 01/01/37 | 2343986 |
| 2425000 | Sales Tax Securitization Corporation, Illinois, Sales Tax Securitization Bonds, Second Lien Series 2020A | 5.000 | 01/01/36 | 2562957 |
| 2435000 | Sales Tax Securitization Corporation, Illinois, Sales Tax Securitization Bonds, Second Lien Series 2020A - BAM Insured | 5.000 | 01/01/37 | 2553325 |
| 2935000 | Southwestern Illinois Development Authority, Local Government Program Revenue Bonds, Southwestern Illinois Flood District Council Project, Series 2016B | 4.000 | 10/15/40 | 2724521 |
| 965000 | Southwestern Illinois Development Authority, Local Government Program Revenue Bonds, Southwestern Illinois Flood District Council Project, Series 2020 | 4.000 | 04/15/34 | 972973 |
| 1250000 | Southwestern Illinois Development Authority, Local Government Program Revenue Bonds, Southwestern Illinois Flood District Council Project, Series 2020 | 4.000 | 10/15/35 | 1252921 |
| 5675000 | Will County Community High School District 210 Lincoln- Way, Illinois, General Obligation Bonds, Capital Appreciation Refunding School Series 2013B | 0.000 | 01/01/30 | 4716621 |
| 5000000 (e) | Will County, Illinois, General Obligation Bonds, Alternate Revenue Source, Series 2016, (Pre-refunded 11/15/25) | 5.000 | 11/15/41 | 5068067 |
| 3855000 | Winnebago-Boone Counties School District 205 Rockford, Illinois, General Obligation Bonds, Series 2013 | 0.000 | 02/01/26 | 3739591 |
|  | TOTAL ILLINOIS |  |  | 638993725 |
|  | **INDIANA - 2.5%** |  |  |  |
| 2100000 | Indiana Finance Authority, Educational Facilities Revenue Bonds, Earlham College, Refunding Series 2013A | 5.000 | 10/01/32 | 2069511 |
| 3500000 | Indiana Finance Authority, Educational Facilities Revenue Bonds, University of Indianapolis Project, Series 2017 | 5.000 | 10/01/43 | 3324642 |
| 3070000 | Indiana Finance Authority, Environmental Facilities Revenue Bonds, Indianapolis Power & Light Company Project, Refunding Series 2020A, (AMT), (Mandatory Put 4/01/26) | 0.950 | 12/01/38 | 2986089 |

---

64 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **INDIANA** (continued) |  |  |  |
| $6750000 | Indiana Finance Authority, Environmental Facilities Revenue Bonds, Indianapolis Power & Light Company Project, Refunding Series 2021B, (Mandatory Put 8/01/26) | 1.400% | 08/01/29 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5915410 |
| 4000000 | Indiana Finance Authority, Environmental Improvement Revenue Bonds, Southern Indiana Gas & Electric Company, Refunding Series 2013A, (AMT), (Mandatory Put 8/01/28) | 4.000 | 05/01/43 | 3977838 |
| 2375000 | Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2021A | 4.125 | 12/01/26 | 2378198 |
| 6440000 | Indiana Finance Authority, Hospital Revenue Bonds, Goshen Health, Series 2019B, (Mandatory Put 11/01/26) | 2.100 | 11/01/49 | 6256605 |
| 12830000 | Indiana Finance Authority, Hospital Revenue Bonds, Indiana University Health Obligation Group, Long Term Rate Series 2023B-3, (Mandatory Put 7/01/32) | 5.000 | 10/01/55 | 14118720 |
| 4260000 | Indiana Finance Authority, Lease Appropriation Bonds, Stadium Project, Refunding Series 2015A | 5.250 | 02/01/37 | 4277870 |
| 1710000 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2014A | 5.000 | 10/01/26 | 1712898 |
| 1470000 | Indiana Housing and Community Development Authority, Single Family Mortgage Revenue Bonds, Series 2021A | 2.050 | 07/01/41 | 984749 |
| 11335000 | Indiana Housing and Community Development Authority, Single Family Mortgage Revenue Bonds, Social PAC Series 2021B | 2.125 | 07/01/41 | 7843977 |
| 1500000 | Indiana Housing and Community Development Authority, Single Family Mortgage Revenue Bonds, Social Series 2024A-1 | 4.500 | 07/01/44 | 1474279 |
| 5000000 | Indiana Housing and Community Development Authority, Single Family Mortgage Revenue Bonds, Social Series 2024B-1 | 4.650 | 07/01/44 | 4971288 |
| 7665000 | Indiana Housing and Community Development Authority, Single Family Mortgage Revenue Bonds, Social Series 2024C-1 | 4.550 | 07/01/44 | 7582018 |
| 14375000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Airport Authority Project Revenue Bonds, Refunding Series 2019D, (AMT) | 5.000 | 01/01/27 | 14743078 |
| 4225000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Airport Authority Project Revenue Bonds, Refunding Series 2019D, (AMT) | 5.000 | 01/01/29 | 4437809 |
| 3000000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Airport Authority Project Revenue Bonds, Series 2023I-2, (AMT) | 5.000 | 01/01/27 | 3076816 |
| 3150000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Airport Authority Project Revenue Bonds, Series 2023I-2, (AMT) | 5.000 | 01/01/28 | 3275742 |
| 2250000 | IPS Multi-School Building Corporation, Indiana, First Mortgage Revenue Bonds, Social Series 2024 | 5.000 | 07/15/41 | 2386557 |
| 5000000 | IPS Multi-School Building Corporation, Indiana, First Mortgage Revenue Bonds, Social Series 2024 | 5.000 | 07/15/42 | 5263019 |
| 3075000 | IPS Multi-School Building Corporation, Indiana, First Mortgage Revenue Bonds, Social Series 2024 | 5.000 | 07/15/43 | 3220782 |
| 2500000 | IPS Multi-School Building Corporation, Indiana, First Mortgage Revenue Bonds, Social Series 2024 | 5.000 | 07/15/44 | 2607753 |
| 4000000 | Mount Vernon, Indiana, Environmental Improvement Revenue Bonds, Southern Indiana Gas and Electric Company Project, Series 2015, (AMT), (Mandatory Put 9/01/28) | 4.250 | 09/01/55 | 4019468 |
| 33040000 | Richmond Hospital Authority, Indiana, Revenue Bonds, Reid Hospital Project, Refunding Series 2018B | 5.000 | 01/01/36 | 33305969 |
| 2740000 (c) | Valparaiso, Indiana, Exempt Facilities Revenue Bonds, Pratt Paper LLC Project, Refunding Series 2024, (AMT) | 4.500 | 01/01/34 | 2779805 |
| 1800000 | Vanderburgh County, Indiana, Redevelopment District Tax Increment Revenue bonds, Refunding Series 2014 | 5.000 | 02/01/29 | 1803143 |
| 1025000 | Vanderburgh County,Indiana, Redevelopment District Tax Increment Revenue bonds, Refunding Series 2014 | 5.000 | 02/01/26 | 1026833 |
| 1805000 | Vanderburgh County,Indiana, Redevelopment District Tax Increment Revenue bonds, Refunding Series 2014 | 5.000 | 02/01/27 | 1808152 |
| 2700000 | Vanderburgh County,Indiana, Redevelopment District Tax Increment Revenue bonds, Refunding Series 2014 | 5.000 | 02/01/31 | 2704714 |
| 1215000 | Westfield-Washington Multi-School Building Corporation, Hamilton County, Indiana, First Mortgage Bonds, Series 2024A - BAM Insured | 5.250 | 07/15/39 | 1336263 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **65** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **INDIANA** (continued) |  |  |  |
| $1750000 | Westfield-Washington Multi-School Building Corporation, Hamilton County, Indiana, First Mortgage Bonds, Series 2024A - BAM Insured | 5.250% | 07/15/41 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1890421 |
| 31305000 | Whiting, Indiana, Environmental Facilities Refunding Revenue Bonds, BP Products North America Inc. Project, Refunding Series 2019A, (AMT), (Mandatory Put 6/05/26) | 5.000 | 12/01/44 | 31710043 |
|  | TOTAL INDIANA |  |  | 191270459 |
|  | **IOWA - 0.9%** |  |  |  |
| 7300000 | Iowa Finance Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2014C | 4.125 | 02/15/35 | 7100079 |
| 5555000 (e) | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2022, (Pre-refunded 12/01/32), (Mandatory Put 12/01/32) | 4.000 | 12/01/50 | 5892105 |
| 8930000 (e) | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2022, (Pre-refunded 12/01/32), (Mandatory Put 12/01/42) | 5.000 | 12/01/50 | 10076959 |
| 3305000 (e) | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2022, (Pre-refunded 12/01/32) | 5.000 | 12/01/50 | 3729491 |
| 2000000 | Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Series 2019D | 2.600 | 07/01/37 | 1641106 |
| 6780000 | Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Series 2020A | 3.750 | 01/01/50 | 6787487 |
| 7400000 | Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Social Series 2021B | 2.200 | 07/01/41 | 5198863 |
| 2250000 | Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Social Series 2021D | 2.100 | 07/01/38 | 1657039 |
| 2835000 | Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Social Series 2024C | 4.500 | 07/01/44 | 2786387 |
| 4670000 | Iowa Finance Authority, State Revolving Fund Revenue Bonds, Green Series 2024A | 5.000 | 08/01/34 | 5312047 |
| 855000 | Iowa Tobacco Settlement Authority, Tobacco Settlement Asset- Backed Bonds, Seenior Lien Series Class 2 Series 2021B-1 | 4.000 | 06/01/49 | 808034 |
| 800000 | Iowa Tobacco Settlement Authority, Tobacco Settlement Asset- Backed Bonds, Senior Class 1 Series 2021A-2 | 5.000 | 06/01/27 | 823280 |
| 2100000 | Iowa Tobacco Settlement Authority, Tobacco Settlement Asset- Backed Bonds, Senior Class 1 Series 2021A-2 | 5.000 | 06/01/28 | 2184833 |
| 1600000 | Iowa Tobacco Settlement Authority, Tobacco Settlement Asset- Backed Bonds, Senior Class 1 Series 2021A-2 | 5.000 | 06/01/30 | 1693658 |
| 1605000 | Iowa Tobacco Settlement Authority, Tobacco Settlement Asset- Backed Bonds, Senior Class 1 Series 2021A-2 | 5.000 | 06/01/31 | 1712648 |
| 1610000 | Iowa Tobacco Settlement Authority, Tobacco Settlement Asset- Backed Bonds, Senior Class 1 Series 2021A-2 | 5.000 | 06/01/32 | 1713022 |
| 1000000 | Iowa Tobacco Settlement Authority, Tobacco Settlement Asset- Backed Bonds, Senior Class 1 Series 2021A-2 | 5.000 | 06/01/33 | 1060629 |
| 8000000 | PEFA Inc., Public Energy Facilities Authority, Inc., Iowa, Gas Project Revenue Bonds, Series 2019, (Mandatory Put 9/01/26) | 5.000 | 09/01/49 | 8146679 |
|  | TOTAL IOWA |  |  | 68324346 |
|  | **KANSAS - 0.3%** |  |  |  |
| 7950000 | Kansas Department of Transportation, Highway Revenue Bonds, Series 2015B | 5.000 | 09/01/29 | 8016330 |
| 5000000 | Kansas Development Finance Authority, Hospital Revenue Bonds, Advent Health Obligated Group, Series 2021B, (Mandatory Put 11/15/31) | 5.000 | 11/15/54 | 5479954 |
| 3280000 | Kansas Development Finance Authority, Hospital Revenue Bonds, Advent Health Obligated Group, Series 2021B, (Mandatory Put 11/15/28) | 5.000 | 11/15/54 | 3496286 |
| 5000000 | Manhattan, Kansas, General Obligation Bonds, Temporary Notes, Series 2024-02 - BAM Insured | 5.000 | 06/15/28 | 5098867 |
| 2400000 (c) | Wyandotte County-Kansas City Unified Government, Kansas, Sales Tax Special Obligation Bonds, Village East Project Areas 2B 3 and 5, Series 2022 | 5.750 | 09/01/39 | 2479317 |
|  | TOTAL KANSAS |  |  | 24570754 |

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66 *See Notes To Financial Statements*

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **KENTUCKY - 1.6%** |  |  |  |
| $110000 | Ashland, Kentucky, Medical Center Revenue Bonds, Ashland Hospital Corporation d/b/a King's Daughters Medical Center Project, Refunding Series 2019 | 4.000% | 02/01/33 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;106812 |
| 500000 | Ashland, Kentucky, Medical Center Revenue Bonds, Ashland Hospital Corporation d/b/a King's Daughters Medical Center Project, Refunding Series 2019 | 4.000 | 02/01/34 | 480022 |
| 180000 | Ashland, Kentucky, Medical Center Revenue Bonds, Ashland Hospital Corporation d/b/a King's Daughters Medical Center Project, Refunding Series 2019 | 4.000 | 02/01/35 | 171021 |
| 1110000 | Ashland, Kentucky, Medical Center Revenue Bonds, Ashland Hospital Corporation d/b/a King's Daughters Medical Center Project, Refunding Series 2019 | 4.000 | 02/01/36 | 1045893 |
| 5000000 | Carroll County, Kentucky, Environmental Facilities Revenue Bonds, Kentucky Utilities Company Project, Refunding Series 2006B, (AMT) | 2.125 | 10/01/34 | 3918211 |
| 21375000 | Carroll County, Kentucky, Environmental Facilities Revenue Bonds, Kentucky Utilities Company Project, Series 2008A, (AMT) | 2.000 | 02/01/32 | 17852323 |
| 1000000 | Christian County, Kentucky, Hospital Revenue Bonds, Jennie Stuart Medical Center, Series 2016 | 5.375 | 02/01/36 | 1005640 |
| 3430000 | Kentucky Asset/Liability Commission, General Fund Revenue Project Notes, Federal Highway Trust Fund, First Refunding Series 2024A | 5.000 | 09/01/26 | 3535021 |
| 3200000 | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A | 5.000 | 06/01/37 | 3205837 |
| 1190000 | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Medical Health System, Series 2015A | 4.500 | 06/01/46 | 1074872 |
| 2465000 | Kentucky Economic Development Finance Authority, Revenue Bonds, CommonSpirit Health, Series 2019A-1 | 5.000 | 08/01/28 | 2610674 |
| 1605000 | Kentucky Housing Corporation, Single Family Mortgage Revenue Bonds, Series 2024C | 4.400 | 07/01/44 | 1569187 |
| 2055000 | Kentucky Housing Corporation, Single Family Mortgage Revenue Bonds, Series 2025A | 4.200 | 07/01/40 | 2045524 |
| 1000000 | Kentucky Housing Corporation, Single Family Mortgage Revenue Bonds, Series 2025A | 4.500 | 07/01/45 | 980593 |
| 2475000 | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 131, Series 2024A | 5.000 | 10/01/28 | 2647511 |
| 1320000 | Louisville Regional Airport Authority, Kentucky, Airport System Revenue Bonds, Refunding Series 2014A, (AMT) | 5.000 | 07/01/26 | 1323951 |
| 3280000 | Louisville Regional Airport Authority, Kentucky, Airport System Revenue Bonds, Refunding Series 2014A, (AMT) | 5.000 | 07/01/28 | 3283133 |
| 7800000 | Louisville/Jefferson County Metro Government, Kentucky, Health System Revenue Bonds, Norton Healthcare, Inc., Series 2023B, (Mandatory Put 10/01/29) | 5.000 | 10/01/47 | 8294270 |
| 7030000 | Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2003A | 2.000 | 10/01/33 | 5728020 |
| 1005000 | Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray- Calloway County Public Hospital Corporation Project, Refunding Series 2016 | 5.000 | 08/01/25 | 1007603 |
| 1060000 | Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray- Calloway County Public Hospital Corporation Project, Refunding Series 2016 | 5.000 | 08/01/26 | 1071271 |
| 1110000 | Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray- Calloway County Public Hospital Corporation Project, Refunding Series 2016 | 5.000 | 08/01/27 | 1124196 |
| 1165000 | Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray- Calloway County Public Hospital Corporation Project, Refunding Series 2016 | 5.000 | 08/01/28 | 1178432 |
| 1230000 | Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray- Calloway County Public Hospital Corporation Project, Refunding Series 2016 | 5.000 | 08/01/29 | 1242170 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **67** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **KENTUCKY** (continued) |  |  |  |
| $2935000 | Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray- Calloway County Public Hospital Corporation Project, Refunding Series 2016 | 5.000% | 08/01/37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2939583 |
| 15000000 | Owen County, Kentucky, Waterworks System Revenue Bonds, Kentucky-American Water Company Project, Refunding Series 2019A, (Mandatory Put 10/01/29) | 2.450 | 06/01/39 | 13827003 |
| 8405000 | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2024B, (Mandatory Put 8/01/32) | 5.000 | 01/01/55 | 8827786 |
| 3655000 | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2025A, (Mandatory Put 12/01/29) | 5.250 | 06/01/55 | 3863470 |
| 5075000 (e) | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2019A-1, (Pre-refunded 6/01/25), (Mandatory Put 6/01/25) | 4.000 | 12/01/49 | 5083257 |
| 5895000 | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2020A, (Mandatory Put 6/01/26) | 4.000 | 12/01/50 | 5920752 |
| 1000000 | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2022A-1, (Mandatory Put 8/01/30) | 4.000 | 08/01/52 | 997121 |
| 3335000 | Trimble County, Kentucky, Environmental Facilities Revenue Bonds, Louisville Gas & Electric Company Project, Series 2023A, (AMT), (Mandatory Put 6/01/27) | 4.700 | 06/01/54 | 3365035 |
| 4750000 | Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2016A, (AMT), (Mandatory Put 9/01/27) | 1.300 | 09/01/44 | 4363947 |
| 1485000 | University of Kentucky, General Receipts Bonds, Series 2018A | 3.000 | 10/01/34 | 1360993 |
| 5195000 | University of Kentucky, General Receipts Bonds, Series 2018A | 3.125 | 10/01/37 | 4611752 |
|  | TOTAL KENTUCKY |  |  | 121662886 |
|  | **LOUISIANA - 2.0%** |  |  |  |
| 14510000 | Calcasieu Parish Memorial Hospital Service District, Louisiana, Revenue Bonds, Lake Charles Memorial Hospital, Refunding Series 2019 | 5.000 | 12/01/34 | 14478329 |
| 8935000 | Calcasieu Parish Memorial Hospital Service District, Louisiana, Revenue Bonds, Lake Charles Memorial Hospital, Refunding Series 2019 | 5.000 | 12/01/39 | 8532964 |
| 3020000 | East Baton Rouge Parish Capital Improvement District, Louisiana, Movebr Sales Tax Revenue Bonds, Series 2024 | 5.000 | 08/01/38 | 3322556 |
| 2070000 | East Baton Rouge Parish Capital Improvement District, Louisiana, Movebr Sales Tax Revenue Bonds, Series 2024 | 5.000 | 08/01/39 | 2258665 |
| 2470000 | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2021D | 2.350 | 12/01/41 | 1777917 |
| 3050000 | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2024A | 4.400 | 12/01/44 | 2969819 |
| 2085000 | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Series 2025A | 4.150 | 12/01/40 | 2045365 |
| 3610000 | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Series 2025A | 4.500 | 12/01/45 | 3536758 |
| 11230000 | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Entergy Louisiana, LLC Project, Refunding Series 2021B | 2.500 | 04/01/36 | 9151154 |
| 16985000 | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Refunding Series 2017 | 3.500 | 11/01/32 | 16236699 |
| 1430000 | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017 | 5.000 | 05/15/28 | 1476595 |
| 1065000 | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017 | 5.000 | 05/15/29 | 1097294 |
| 1185000 | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017 | 5.000 | 05/15/30 | 1219278 |
| 1755000 | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017 | 5.000 | 05/15/31 | 1800771 |
| 1140000 | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017 | 5.000 | 05/15/32 | 1167713 |
| 2695000 | Louisiana Public Facilities Authority, Louisiana, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2017 | 5.000 | 05/15/46 | 2710484 |

---

68 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **LOUISIANA** (continued) |  |  |  |
| $1000000 (d) | Louisiana Public Facilities Authority, Revenue Bonds, Archdiocese of New Orleans, Refunding Series 2017 | 5.000% | 07/01/37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;850000 |
| 25000 (e) | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2016, (Pre-refunded 5/15/26) | 5.000 | 05/15/30 | 25554 |
| 1110000 | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2016 | 5.000 | 05/15/30 | 1127750 |
| 35000 (e) | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2016, (Pre-refunded 5/15/26) | 5.000 | 05/15/32 | 35776 |
| 3420000 | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2016 | 5.000 | 05/15/32 | 3471503 |
| 40000 (e) | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2016, (Pre-refunded 5/15/26) | 5.000 | 05/15/33 | 40888 |
| 3675000 | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Refunding Series 2016 | 5.000 | 05/15/33 | 3728191 |
| 1000000 | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015 | 5.000 | 05/15/31 | 1001686 |
| 1100000 | Louisiana Publics Facilities Authority, Louisiana, Revenue Bonds, I-10 Calcasieu River Bridge Public-Private Partnership Project, Senior Lien Series 2024, (AMT) | 5.500 | 09/01/54 | 1142898 |
| 5000000 (f) | Louisiana State, Gasoline and Fuels Tax Revenue Bonds, Refunding Second Lien Series 2025A | 4.000 | 05/01/40 | 4895385 |
| 5000000 | Louisiana State, General Obligation Bonds, Series 2016A | 5.000 | 09/01/34 | 5119530 |
| 900000 | New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Louis Armstrong New Orleans International Airport, Series 2023B, (AMT) | 5.000 | 01/01/37 | 944790 |
| 980000 | New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Louis Armstrong New Orleans International Airport, Series 2023B, (AMT) | 5.000 | 01/01/39 | 1019496 |
| 1420000 | New Orleans Aviation Board, Louisiana, General Airport Revenue Bonds, Louis Armstrong New Orleans International Airport, Series 2023B, (AMT) | 5.000 | 01/01/40 | 1467006 |
| 5195000 | New Orleans, Louisiana, General Obligation Bonds, Public Improvement Series 2021A | 5.000 | 12/01/26 | 5363816 |
| 6105000 | New Orleans, Louisiana, General Obligation Bonds, Public Improvement Series 2024A | 5.000 | 12/01/40 | 6548795 |
| 480000 | New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015 | 5.000 | 12/01/25 | 485756 |
| 795000 | New Orleans, Louisiana, General Obligation Bonds, Refunding Series 2015 | 5.000 | 12/01/27 | 806545 |
| 605000 | New Orleans, Louisiana, Sewerage Service Revenue Bonds, Refunding Series 2014 | 5.000 | 06/01/25 | 605856 |
| 410000 (e) | New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015, (Pre-refunded 6/01/25) | 5.000 | 06/01/30 | 411375 |
| 775000 (e) | New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015, (Pre-refunded 6/01/25) | 5.000 | 06/01/32 | 777599 |
| 1000000 (e) | New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015, (Pre-refunded 6/01/25) | 5.000 | 06/01/33 | 1003353 |
| 1075000 (e) | New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015, (Pre-refunded 6/01/25) | 5.000 | 06/01/35 | 1078605 |
| 3265000 (c) | Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,<br> L.P. Project, Series 2010B, (Mandatory Put 6/01/30) | 6.100 | 12/01/40 | 3559001 |
| 3405000 (c) | Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,<br> L.P. Project, Series 2011, (Mandatory Put 6/01/25) | 5.850 | 08/01/41 | 3414078 |
| 2095000 | Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017B-2, (Mandatory Put 7/01/26) | 2.375 | 06/01/37 | 2067407 |
| 17035000 | Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017C, (Mandatory Put 7/03/28) | 3.300 | 06/01/37 | 16915602 |
| 760000 | Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior Lien Series 2019B - AGM Insured | 5.000 | 12/01/26 | 782819 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **69** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **LOUISIANA** (continued) |  |  |  |
| $1475000 | Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior Lien Series 2019B - AGM Insured | 5.000% | 12/01/29 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1551301 |
| 1500000 | Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior Lien Series 2019B - AGM Insured | 5.000 | 12/01/30 | 1566759 |
| 1795000 | Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior Lien Series 2019B - AGM Insured | 5.000 | 12/01/32 | 1856552 |
| 1630000 | Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior Lien Series 2019B - AGM Insured | 4.000 | 12/01/33 | 1634078 |
| 6005000 | Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior Lien Series 2019B - AGM Insured | 3.000 | 12/01/35 | 5450153 |
|  | TOTAL LOUISIANA |  |  | 154532264 |
|  | **MAINE - 0.6%** |  |  |  |
| 4560000 | Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2016A | 4.000 | 07/01/41 | 3708866 |
| 5685000 | Maine Health and Higher Educational Facilities Authority Revenue Bonds, Eastern Maine Medical Center Obligated Group Issue, Series 2016A | 4.000 | 07/01/46 | 4468507 |
| 840000 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, MaineHealth Issue, Series 2020A | 4.000 | 07/01/37 | 841254 |
| 200000 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2021A - AGM Insured | 5.000 | 07/01/26 | 204972 |
| 150000 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2021A - AGM Insured | 5.000 | 07/01/27 | 156478 |
| 240000 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2021A - AGM Insured | 5.000 | 07/01/28 | 254201 |
| 685000 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2021A - AGM Insured | 2.500 | 07/01/29 | 668765 |
| 200000 | Maine Health and Higher Educational Facilities Authority, Revenue Bonds, Series 2021A - AGM Insured | 5.000 | 07/01/30 | 216791 |
| 10000000 | Maine State Housing Authority, Multifamily Mortgage Purchase Bonds, Series 2020B | 2.350 | 11/15/40 | 7393506 |
| 3125000 | Maine State Housing Authority, Multifamily Mortgage Purchase Bonds, Series 2021A | 2.050 | 11/15/41 | 2080878 |
| 7425000 | Maine State Housing Authority, Multifamily Mortgage Purchase Bonds, Series 2022A | 2.400 | 11/15/41 | 5309387 |
| 6280000 | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Series 2020D | 2.550 | 11/15/40 | 4781645 |
| 3250000 | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Series 2021B | 2.200 | 11/15/41 | 2271365 |
| 10675000 | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Social Series 2021C | 2.150 | 11/15/41 | 7384654 |
| 3000000 | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Social Series 2021D | 2.400 | 11/15/41 | 2181970 |
| 1230000 | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Social Series 2024C | 4.550 | 11/15/44 | 1219134 |
|  | TOTAL MAINE |  |  | 43142373 |
|  | **MARYLAND - 1.7%** |  |  |  |
| 1270000 | Baltimore County, Maryland, Revenue Bonds, Oak Crest Village, Series 2016 | 3.250 | 01/01/31 | 1225773 |
| 3365000 | Baltimore County, Maryland, Revenue Bonds, Oak Crest Village, Series 2016 | 5.000 | 01/01/37 | 3382255 |
| 1760000 | Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017 | 5.000 | 09/01/27 | 1787808 |
| 2780000 | Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017 | 5.000 | 09/01/29 | 2814128 |
| 1000000 | Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017 | 5.000 | 09/01/30 | 1011039 |
| 1365000 | Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017 | 5.000 | 09/01/31 | 1378215 |
| 145000 | Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017 | 5.000 | 09/01/34 | 145723 |

---

70 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **MARYLAND** (continued) |  |  |  |
| $1500000 |  | Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017 | 5.000% | 09/01/39 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1481046 |
| 2800000 |  | Charles County, Maryland, General Obligation Bonds, Refunding & Consolidated Public Improvement Series 2017 | 2.400 | 10/01/29 | 2641382 |
| 3000000 |  | Howard County Housing Commission, Maryland, Revenue Bonds, Columbia Landing Project, Refunding Series 2021A | 1.600 | 06/01/29 | 2663949 |
| 5000000 |  | Howard County, Maryland, General Obligation Bonds, Consolidated Public Improvement Project, Series 2018A | 3.000 | 02/15/30 | 4900948 |
| 22335000 |  | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2019C | 3.000 | 09/01/39 | 18579939 |
| 10375000 |  | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2020A | 2.500 | 09/01/40 | 7846977 |
| 15055000 |  | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2021A | 1.950 | 09/01/41 | 9863545 |
| 13245000 |  | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2021B | 2.100 | 09/01/41 | 9096433 |
| 20000000 |  | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2021C | 2.450 | 09/01/41 | 14724458 |
| 1000000 |  | Maryland Economic Development Corporation, Student Housing Revenue Bonds, University of Maryland, College Park Project, Refunding Series 2016 - AGM Insured | 5.000 | 06/01/28 | 1018279 |
| 7000000 |  | Maryland Health and HIgher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical Systems, Series 2020B-2, (Mandatory Put 7/01/27) | 5.000 | 07/01/45 | 7198461 |
| 4925000 |  | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, University of Maryland Medical Systems, Series 2025B, (Mandatory Put 7/01/31) | 5.000 | 07/01/45 | 5357684 |
| 805000 |  | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical Center, Series 2016A | 5.000 | 07/01/32 | 817865 |
| 2250000 |  | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical Center, Series 2016A | 5.000 | 07/01/33 | 2283980 |
| 1650000 |  | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical Center, Series 2016A | 5.000 | 07/01/34 | 1673583 |
| 2000000 |  | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical Center, Series 2016A | 5.000 | 07/01/35 | 2027094 |
| 1570000 |  | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Mercy Medical Center, Series 2016A | 5.000 | 07/01/36 | 1590321 |
| 1000000 |  | Maryland Health and Higher Educational Facilities Authority, Revenue Bonds, Adventist HealthCare Issue, Series 2021B | 4.000 | 01/01/39 | 927710 |
| 15025000 |  | Maryland State, General Obligation Bonds, State and Local Facilities Loan, Second Series 2020A-2 | 5.000 | 08/01/25 | 15135653 |
| 7080000 |  | Maryland Transportation Authority, Revenue Bonds, Transportation Facilities Projects, Refunding Series 2024A | 5.000 | 07/01/37 | 7868505 |
|  |  | TOTAL MARYLAND |  |  | 129442753 |
|  |  | **MASSACHUSETTS - 1.3%** |  |  |  |
| 835000 |  | Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A | 5.000 | 07/01/26 | 831976 |
| 680000 |  | Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A | 5.000 | 07/01/27 | 674448 |
| 925000 |  | Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A | 5.000 | 07/01/28 | 910837 |
| 960000 |  | Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A | 5.000 | 07/01/29 | 938484 |
| 4800000 | (c) | Massachusetts Development Finance Agency Revenue Refunding Bonds, NewBridge on the Charles, Inc. Issue, Series 2017 | 4.000 | 10/01/32 | 4745908 |
| 1968811 | (c),(d) | Massachusetts Development Finance Agency, Health Care Facility Revenue Bonds, Adventcare Project, Series 2007A | 6.650 | 10/15/28 | 20 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **71** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MASSACHUSETTS** (continued) |  |  |  |
| $1670000 | Massachusetts Development Finance Agency, Revenue Bonds, Boston Medical Center Issue, Series 2016E | 3.375% | 07/01/36 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1467452 |
| 7575000 | Massachusetts Development Finance Agency, Revenue Bonds, Boston University, Refunding Series 2025B-1 | 5.000 | 10/01/39 | 8329546 |
| 2275000 | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2 | 5.000 | 07/01/33 | 2362731 |
| 1085000 | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2 | 5.000 | 07/01/38 | 1115599 |
| 1215000 | Massachusetts Development Finance Agency, Revenue Bonds, Harvard University, Series 2024B | 5.000 | 02/15/33 | 1380600 |
| 15090000 | Massachusetts Development Finance Agency, Revenue Bonds, Harvard University, Series 2025A-2, (Mandatory Put 11/15/35) | 5.000 | 05/15/55 | 17397486 |
| 415000 (e) | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, (Pre- refunded 7/15/30) | 5.000 | 07/15/32 | 456644 |
| 320000 (e) | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, (Pre- refunded 7/15/30) | 5.000 | 07/15/33 | 352111 |
| 300000 (e) | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, (Pre- refunded 7/15/30) | 5.000 | 07/15/34 | 330104 |
| 270000 (e) | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, (Pre- refunded 7/15/30) | 5.000 | 07/15/35 | 297094 |
| 135000 (e) | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, (Pre- refunded 7/15/30) | 5.000 | 07/15/36 | 148547 |
| 145000 (e) | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, (Pre- refunded 7/15/30) | 5.000 | 07/15/37 | 159550 |
| 250000 | Massachusetts Development Finance Agency, Revenue Bonds, Phillips Academy, Refunding Series 2024A | 5.000 | 09/01/30 | 276817 |
| 425000 | Massachusetts Development Finance Agency, Revenue Bonds, Phillips Academy, Refunding Series 2024A | 5.000 | 09/01/32 | 479468 |
| 225000 | Massachusetts Development Finance Agency, Revenue Bonds, Phillips Academy, Refunding Series 2024A | 5.000 | 09/01/33 | 255567 |
| 275000 | Massachusetts Development Finance Agency, Revenue Bonds, Phillips Academy, Refunding Series 2024A | 5.000 | 09/01/36 | 311169 |
| 1080000 | Massachusetts Development Finance Agency, Revenue Bonds, Simmons University Issue, Series 2018L | 5.000 | 10/01/30 | 1093671 |
| 1240000 | Massachusetts Development Finance Agency, Revenue Bonds, Simmons University Issue, Series 2018L | 5.000 | 10/01/31 | 1251805 |
| 1775000 | Massachusetts Development Finance Agency, Revenue Bonds, Simmons University Issue, Series 2018L | 5.000 | 10/01/32 | 1786794 |
| 1695000 | Massachusetts Development Finance Agency, Revenue Bonds, Smith College, Series 2025 | 5.000 | 07/01/35 | 1960647 |
| 1130000 | Massachusetts Development Finance Agency, Revenue Bonds, Southcoast Health System Obligated Group Issue, Series 2021G | 5.000 | 07/01/35 | 1199294 |
| 1045000 | Massachusetts Development Finance Agency, Revenue Bonds, Southcoast Health System Obligated Group Issue, Series 2021G | 5.000 | 07/01/36 | 1105551 |
| 4250000 | Massachusetts Development Finance Agency, Revenue Bonds, UMass Memorial Health Care Obligated Group Issue, Series 2017L | 3.625 | 07/01/37 | 3723705 |
| 4245000 | Massachusetts Development Finance Agency, Revenue Bonds, Wellforce Issue, Series 2019A | 4.000 | 07/01/37 | 3872255 |
| 1220000 | Massachusetts Development Finance Agency, Revenue Bonds, Williams College, Series 2011N, (Mandatory Put 7/01/25) | 0.450 | 07/01/41 | 1208858 |
| 1640000 | Massachusetts Housing Finance Agency, Housing Bonds, Series 2019B-1 | 3.000 | 12/01/39 | 1335636 |
| 2875000 | Massachusetts Housing Finance Agency, Housing Bonds, Sustainability Green Series 2021A-1 | 2.125 | 12/01/41 | 1977315 |
| 2100000 | Massachusetts Housing Finance Agency, Housing Bonds, Sustainability Green Series 2023A-3 | 3.050 | 12/01/27 | 2084408 |

---

72 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MASSACHUSETTS** (continued) |  |  |  |
| $3000000 | Massachusetts Housing Finance Agency, Housing Bonds, Sustainability Series 2019C-1 | 2.900% | 12/01/39 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2398258 |
| 1900000 | Massachusetts Housing Finance Agency, Multifamily Housing Bonds, Green Sustainability Series 2024A1 | 4.550 | 12/01/44 | 1885034 |
| 5350000 | Massachusetts Housing Finance Agency, Multifamily Housing Bonds, Green Sustainability Series 2024B3 | 3.500 | 06/01/29 | 5325519 |
| 7570000 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2019-214 | 2.800 | 12/01/39 | 6105049 |
| 2330000 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Series 2020-218 | 2.300 | 12/01/40 | 1744895 |
| 4930000 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Social Series 2020-220 | 2.125 | 12/01/40 | 3488786 |
| 4935000 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Social Series 2021-221 | 2.200 | 12/01/41 | 3446814 |
| 2935000 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Social Series 2021-223 | 2.350 | 06/01/39 | 2284081 |
| 1555000 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Social Series 2024-234 | 4.100 | 12/01/39 | 1528757 |
| 2800000 | Massachusetts State, General Obligation Bonds, Refunding Series 2024B | 5.000 | 11/01/37 | 3106925 |
| 2800000 | Massachusetts State, General Obligation Bonds, Refunding Series 2024B | 5.000 | 11/01/38 | 3076820 |
|  | TOTAL MASSACHUSETTS |  |  | 100213035 |
|  | **MICHIGAN - 2.4%** |  |  |  |
| 665000 | Marquette, Michigan, Electric Utility System Revenue Bonds, Refunding Series 2016A | 5.000 | 07/01/30 | 679103 |
| 190000 | Michigan Finance Authority, Hospital Revenue Bonds, Bronson Healthcare Group, Inc., Series 2019B, (Mandatory Put 11/16/26) | 5.000 | 11/15/44 | 193993 |
| 11275000 | Michigan Finance Authority, Hospital Revenue Bonds, McLaren Health Care, Refunding Series 2015D-1, (Mandatory Put 4/13/28) | 1.200 | 10/15/30 | 10496479 |
| 17335000 | Michigan Finance Authority, Hospital Revenue Bonds, McLaren Health Care, Refunding Series 2015D-2, (Mandatory Put 4/13/28) | 1.200 | 10/15/38 | 16090798 |
| 5010000 | Michigan Finance Authority, Local Government Loan Program Revenue Bonds, Detroit Water & Sewerage Department Sewage Disposal System Local Project, Second Lien Series 2015C | 5.000 | 07/01/34 | 5026939 |
| 10585000 | Michigan Finance Authority, Michigan, Revenue Bonds, Trinity Health Credit Group, Refunding Series 2022B-MI, (Mandatory Put 12/01/28) | 5.000 | 12/01/43 | 11168799 |
| 1800000 | Michigan Finance Authority, Tobacco Settlement Asset- Backed Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest Series 2020A-CL-1 | 5.000 | 06/01/28 | 1872617 |
| 2500000 | Michigan Finance Authority, Tobacco Settlement Asset- Backed Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest Series 2020A-CL-1 | 5.000 | 06/01/33 | 2624976 |
| 2435000 | Michigan Finance Authority, Tobacco Settlement Asset- Backed Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest Series 2020A-CL-1 | 4.000 | 06/01/34 | 2407274 |
| 1000000 | Michigan Finance Authority, Tobacco Settlement Asset- Backed Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest Series 2020A-CL-1 | 4.000 | 06/01/35 | 983187 |
| 2470000 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2018A | 3.800 | 10/01/38 | 2308794 |
| 8730000 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2021A | 2.250 | 10/01/41 | 6173757 |
| 7695000 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2024A | 3.700 | 04/01/30 | 7710796 |
| 2255000 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Fixed Rate Series 2018C | 3.650 | 12/01/39 | 2051165 |
| 13000000 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Series 2019B | 2.950 | 12/01/39 | 10744659 |
| 25205000 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Series 2020C | 2.600 | 12/01/40 | 19212857 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **73** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MICHIGAN** (continued) |  |  |  |
| $9620000 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Social Series 2021A | 2.150% | 12/01/41 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6650518 |
| 7405000 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2015-I | 5.000 | 04/15/30 | 7462728 |
| 9000000 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2015-I | 5.000 | 10/15/45 | 9028543 |
| 22850000 | Michigan Strategic Fund, Limited Obligation Pollution Control Revenue Refunding Bonds, Detroit Edison Company, Variable Rate Demand Obligations, Series 1995CC | 1.450 | 09/01/30 | 19274912 |
| 21550000 | Michigan Strategic Fund, Limited Obligation Revenue Bonds, Detroit Edison Company Exempt Facilities Project, Refunding Variable Rate Series 2008ET-2 | 1.350 | 08/01/29 | 18813133 |
| 2255000 | Michigan Strategic Fund, Limited Obligation Revenue Bonds, Graphic Packaging International, LLC Coated Recycled Board Machine Project, Green Series 2021, (AMT), (Mandatory Put 10/01/26) | 4.000 | 10/01/61 | 2251261 |
| 8125000 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Refunding Series 2015F, (AMT) | 5.000 | 12/01/28 | 8189491 |
| 3765000 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Refunding Series 2015F, (AMT) | 5.000 | 12/01/32 | 3779358 |
| 5295000 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Refunding Series 2015F, (AMT) | 5.000 | 12/01/33 | 5309175 |
| 5000000 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Refunding Series 2015F, (AMT) | 5.000 | 12/01/34 | 5012411 |
|  | TOTAL MICHIGAN |  |  | 185517723 |
|  | **MINNESOTA - 1.3%** |  |  |  |
| 1910000 | Duluth Economic Development Authority, Minnesota, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2018A | 5.000 | 02/15/33 | 1975489 |
| 1150000 | Duluth Economic Development Authority, Minnesota, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2018A | 5.000 | 02/15/37 | 1176143 |
| 7085000 | Duluth Economic Development Authority, Minnesota, Health Care Facilities Revenue Bonds, Essentia Health Obligated Group, Series 2018A | 4.250 | 02/15/43 | 6639708 |
| 7550000 | Edina Independent School District 273, Hennepin County, Minnesota, General Obligation Bonds, Facilities Maintenance Capital Notes Alternative Facilities and School Building Refunding Series 2024A | 5.000 | 02/01/28 | 7985146 |
| 6585000 | Edina Independent School District 273, Hennepin County, Minnesota, General Obligation Bonds, Facilities Maintenance Capital Notes Alternative Facilities and School Building Refunding Series 2024A | 3.000 | 02/01/36 | 6038173 |
| 13970000 | Minneapolis, Minnesota, Health Care System Revenue Bonds, Allina Health System, Series 2023A, (Mandatory Put 11/15/28) | 5.000 | 11/15/52 | 14695103 |
| 1370000 | Minneapolis-Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care System Revenue Bonds, Allina Health System, Refunding Series 2017A | 5.000 | 11/15/28 | 1418502 |
| 5000000 | Minneapolis-Saint Paul Metropolitan Council, Minnesota, General Obligation Wastewater Revenue Bonds, Series 2015C | 3.500 | 03/01/28 | 5001707 |
| 1000000 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Subordinate Lien Series 2019B, (AMT) | 5.000 | 01/01/27 | 1025263 |
| 2850000 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Subordinate Series 2024A, (AMT) | 5.000 | 01/01/28 | 2967569 |
| 3495607 | Minnesota Housing Finance Agency, Homeownership Finance Bonds, Mortgage-Backed Securities Program, Series 2017E | 2.850 | 06/01/47 | 2839952 |
| 2595000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2013C | 3.900 | 07/01/43 | 2329230 |

---

74 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MINNESOTA** (continued) |  |  |  |
| $6065000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2020B | 2.625% | 01/01/40 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4691386 |
| 5790000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2020B | 3.500 | 07/01/50 | 5765580 |
| 5430000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2020E | 2.500 | 07/01/40 | 4114904 |
| 4605000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2020I | 2.000 | 07/01/40 | 3152358 |
| 4110000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2021D | 2.200 | 07/01/41 | 2887477 |
| 9245000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2021H | 2.350 | 07/01/41 | 6689861 |
| 4235000 | Minnesota Municipal Gas Agency, Commodity Supply Revenue Bonds, Series 2022A, (Mandatory Put 12/01/27) | 4.000 | 12/01/52 | 4274355 |
| 6445000 | Saint Paul Independent School District 625, Ramsey County, Minnesota, Certificates of Participation, Series 2018B | 3.500 | 02/01/39 | 5960133 |
| 2650000 | White Bear Lake Independent School District 624, Ramsey County, Minnesota, General Obligation Bonds, Facilities Maintenance Series 2021A | 2.000 | 02/01/28 | 2510683 |
| 3095000 | White Bear Lake Independent School District 624, Ramsey County, Minnesota, General Obligation Bonds, Facilities Maintenance Series 2021A | 2.000 | 02/01/29 | 2870653 |
| 4135000 | White Bear Lake Independent School District 624, Ramsey County, Minnesota, General Obligation Bonds, Facilities Maintenance Series 2021A | 2.000 | 02/01/30 | 3751766 |
|  | TOTAL MINNESOTA |  |  | 100761141 |
|  | **MISSISSIPPI - 0.3%** |  |  |  |
| 5595000 | Mississippi Business Finance Corporation, Pollution Control Revenue, Mississippi Power, Series 2002 | 3.200 | 09/01/28 | 5564419 |
| 1000000 | Mississippi Business Finance Corporation, Revenue Bonds, System Energy Resources, Inc. Project, Refunding Series 2021 | 2.375 | 06/01/44 | 621024 |
| 2490000 | Mississippi Home Corporation, Single Family Mortgage Revenue Bonds, Series 2020A | 2.450 | 12/01/39 | 1924848 |
| 2170000 | Mississippi Home Corporation, Single Family Mortgage Revenue Bonds, Series 2020A | 3.750 | 06/01/49 | 2172338 |
| 1470000 | Mississippi Home Corporation, Single Family Mortgage Revenue Bonds, Series 2021A | 2.000 | 12/01/40 | 1017873 |
| 2830000 | Mississippi Home Corporation, Single Family Mortgage Revenue Bonds, Series 2024A | 4.000 | 12/01/39 | 2702954 |
| 6560000 | Mississippi Home Corporation, Single Family Mortgage Revenue Bonds, Series 2024C | 4.650 | 12/01/44 | 6522636 |
| 2000000 | Mississippi State, Gaming Tax Revenue Bonds, Series 2019A | 5.000 | 10/15/37 | 2061917 |
| 1590000 | Mississippi State, Gaming Tax Revenue Bonds, Series 2019A | 4.000 | 10/15/38 | 1534215 |
|  | TOTAL MISSISSIPPI |  |  | 24122224 |
|  | **MISSOURI - 1.5%** |  |  |  |
| 920000 | Cape Girardeau County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Southeasthealth, Series 2016A | 6.000 | 03/01/33 | 930424 |
| 1000000 | Curators of the University of Missouri, System Facilities Revenue Bonds, Series 2024 | 5.000 | 11/01/34 | 1143001 |
| 3705000 | Kansas City Industrial Development Authority, Missouri, Airport Special Obligation Bonds, Kansas City International Airport Project, Refunding Series 2019A, (AMT) | 5.000 | 03/01/38 | 3797903 |
| 8000000 | Kansas City, Missouri, Sanitary Sewer System Revenue Bonds, Refunding & Improvement Series 2016A | 4.000 | 01/01/40 | 7774622 |
| 4595000 | Kansas City, Missouri, Water Revenue Bonds, Series 2017A | 4.000 | 12/01/39 | 4518623 |
| 4000000 | Ladue School District, Saint Louis County, Missouri, General Obligation Bonds, Series 2021 | 2.000 | 03/01/32 | 3385153 |
| 3000000 | Lees Summit Industrial Development Authority, Missouri, Revenue Bonds, John Knox Village, Series 2024A | 5.000 | 08/15/39 | 3106579 |
| 10425000 | Missouri Environmental Improvement and Energy Resources Authority, Revenue Bonds, Union Electric Company Project, Refunding Series 1998A | 2.900 | 09/01/33 | 9291358 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **75** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MISSOURI** (continued) |  |  |  |
| $12000000 | Missouri Environmental Improvement and Energy Resources Authority, Revenue Bonds, Union Electric Company Project, Series 1998B | 2.900% | 09/01/33 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10695089 |
| 15085000 | Missouri Environmental Improvement and Energy Resources Authority, Revenue Bonds, Union Electric Company Project, Series 1998C | 2.750 | 09/01/33 | 13459812 |
| 12040000 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, BJC Health System, Series 2021B, (Mandatory Put 5/01/26) | 4.000 | 05/01/51 | 12166852 |
| 2000000 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, BJC Health System, Series 2025A | 4.000 | 04/01/45 | 1846781 |
| 12060000 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, BJC Health System, Series 2025C, (Mandatory Put 4/01/35) | 5.000 | 04/01/59 | 13333491 |
| 1010000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Home Ownership Loan Program Series 2024C | 4.550 | 11/01/44 | 1001399 |
| 5065000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Home Ownership Loan Program Series 2024E | 4.450 | 11/01/44 | 4945374 |
| 3000000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Home Ownership Loan Program Series 2024G | 3.950 | 11/01/39 | 2844430 |
| 3565000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Homeownership Loan Program, Series 2019C | 2.750 | 11/01/39 | 2840631 |
| 1500000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Homeownership Loan Program, Series 2020A | 2.550 | 11/01/40 | 1142623 |
| 1015000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Homeownership Loan Program, Series 2021A | 2.150 | 11/01/41 | 702549 |
| 4215000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Homeownership Loan Program, Series 2021B | 2.000 | 11/01/41 | 2823196 |
| 5000000 | Springfield, Missouri, Public Utility Revenue Bonds, Refunding Series 2015 | 4.000 | 08/01/35 | 4999450 |
| 5000000 | Springfield, Missouri, Public Utility Revenue Bonds, Refunding Series 2015 | 4.000 | 08/01/36 | 4955701 |
| 935000 | Stoddard County Industrial Development Authority, Missouri, Health Facility Revenue Bonds, Southeasthealth, Series 2016B | 6.000 | 03/01/37 | 946001 |
|  | TOTAL MISSOURI |  |  | 112651042 |
|  | **MONTANA - 0.5%** |  |  |  |
| 1505000 | Cascade County High School District A Great Falls, Montana, General Obligation Bonds, School Building Series 2018 | 5.000 | 07/01/38 | 1567456 |
| 740000 | Flathead County School District 44 Whitefish, Montana, General Obligation Bonds, School Building Series 2025 - BAM Insured | 5.000 | 07/01/34 | 829927 |
| 25000 | Flathead County School District 44 Whitefish, Montana, General Obligation Bonds, School Building Series 2025 - BAM Insured | 5.000 | 07/01/35 | 28172 |
| 695000 | Flathead County School District 44 Whitefish, Montana, General Obligation Bonds, School Building Series 2025 - BAM Insured | 5.000 | 07/01/36 | 778142 |
| 485000 | Flathead County School District 44 Whitefish, Montana, General Obligation Bonds, School Building Series 2025 - BAM Insured | 5.000 | 07/01/38 | 536918 |
| 25675000 | Forsyth, Montana Pollution Control Revenue Bonds, Portland General Electric Company Project, Refunding Series 1998A | 2.125 | 05/01/33 | 21286459 |
| 2675000 | Forsyth, Rosebud County, Montana, Pollution Control Revenue Refunding Bonds, Northwestern Corporation Colstrip Project, Series 2023 | 3.875 | 07/01/28 | 2707806 |
| 1000000 | Gallatin County School District 44 Belgrade, Montana, General Obligation Bonds, School Building Series 2019 | 4.000 | 06/01/33 | 1020833 |
| 1045000 | Montana Board of Housing, Single Family Mortgage Bonds, Series 2021A-1 | 2.000 | 12/01/41 | 687991 |

---

76 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MONTANA** (continued) |  |  |  |
| $1725000 | Montana Board of Housing, Single Family Mortgage Bonds, Series 2021B | 2.000% | 12/01/41 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1159371 |
| 1000000 | Montana Board of Housing, Single Family Mortgage Bonds, Series 2024A | 3.950 | 12/01/39 | 941313 |
| 1000000 | Montana Board of Housing, Single Family Mortgage Bonds, Series 2024A | 4.450 | 12/01/44 | 976756 |
| 490000 | Montana Board of Housing, Single Family Mortgage Bonds, Series 2024B | 3.900 | 12/01/39 | 460686 |
| 810000 | Montana Board of Housing, Single Family Mortgage Bonds, Series 2024B | 4.300 | 12/01/44 | 779997 |
| 2000000 (f) | Montana Board of Housing, Single Family Mortgage Bonds, Series 2025A | 4.250 | 12/01/40 | 1998899 |
| 565000 | Montana Facility Finance Authority, Montana, Health Facilities Revenue Bonds, Bozeman Deaconess Health Services Obligated Group, Series 2018 | 3.250 | 06/01/32 | 532075 |
|  | TOTAL MONTANA |  |  | 36292801 |
|  | **NATIONAL - 0.5%** |  |  |  |
| 18745000 (c) | Federal Home Loan Mortgage Corporation, National, Multifamily Variable Rate Certificates Relating to Corporate Taxable Debt Series 2019 | 3.150 | 01/15/36 | 17105099 |
| 19519716 | Federal Home Loan Mortgage Corporation, National, Multifamily Variable Rate Certificates Relating to Municipal Securities Class A Series 2019M-053 | 2.550 | 06/15/35 | 17018844 |
| 5072108 | Freddie Mac Multi-Family ML Certificates, Series ML 05, Series 2019A | 3.400 | 01/25/36 | 4869003 |
|  | TOTAL NATIONAL |  |  | 38992946 |
|  | **NEBRASKA - 0.9%** |  |  |  |
| 6640000 | Central Plains Energy Project, Nebraska, Gas Project 4 Revenue Bonds, Refunding Series 2023A-1, (Mandatory Put 11/01/29) | 5.000 | 05/01/54 | 6931201 |
| 2025000 | Douglas County Hospital Authority 2, Nebraska, Hospital Revenue Bonds, Madonna Rehabilitation Hospital Project, Series 2014 | 5.000 | 05/15/28 | 2025895 |
| 8520000 | Douglas County Hospital Authority 2, Nebraska, Hospital Revenue Bonds, Madonna Rehabilitation Hospital Project, Series 2014 | 5.000 | 05/15/44 | 8376066 |
| 1000000 | Lincoln, Nebraska, Airport Revenue Bonds, Series 2021, (AMT) | 4.000 | 07/01/36 | 967457 |
| 530000 | Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018 | 5.000 | 07/01/25 | 531705 |
| 750000 | Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018 | 5.000 | 07/01/26 | 751998 |
| 200000 | Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018 | 5.000 | 07/01/27 | 200370 |
| 835000 | Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018 | 5.000 | 07/01/28 | 835934 |
| 485000 | Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018 | 5.000 | 07/01/29 | 485448 |
| 1000000 | Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018 | 5.000 | 07/01/30 | 1000129 |
| 180000 | Madison County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Faith Regional Health Services Project, Series 2018 | 5.000 | 07/01/33 | 178819 |
| 160000 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2019D | 2.600 | 09/01/34 | 136633 |
| 7205000 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2019D | 2.850 | 09/01/39 | 5890821 |
| 10000000 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2020A | 2.550 | 09/01/40 | 7631844 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **77** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEBRASKA** (continued) |  |  |  |
| $595000 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2021A | 1.950% | 09/01/37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;436612 |
| 17770000 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2021C | 2.300 | 09/01/41 | 12706158 |
| 2290000 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2023A | 4.125 | 09/01/38 | 2210908 |
| 1380000 | Papillion-LaVista School District 27, Sarpy County, Nebraska, General Obligation Bonds, Refunding Series 2020B | 4.000 | 12/01/26 | 1407775 |
| 1775000 | Sarpy County School District 037 Gretna Public Schools, Nebraska, General Obligation Bonds, Refunding Series 2019 | 4.000 | 06/15/33 | 1800146 |
| 2240000 | Sarpy County, Nebraska, Limited Tax Highway Allocation Fund Pledge Bonds, Series 2021 | 2.000 | 06/01/27 | 2157368 |
| 6320000 | Saunders County School District 1, Ashland-Greenwood, Nebraska, General Obligation Bonds, Series 2021 | 2.000 | 12/15/50 | 3337977 |
| 3660000 | Scotts Bluff County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Regional West Medical Center Project, Refunding & Improvement Series 2016A | 5.250 | 02/01/28 | 3680918 |
| 1355000 | Scotts Bluff County Hospital Authority 1, Nebraska, Hospital Revenue Bonds, Regional West Medical Center Project, Refunding & Improvement Series 2016A | 5.250 | 02/01/29 | 1358681 |
| 5885000 | Southeast Community College Area, Nebraska, Certificates of Participation, Series 2018 | 3.375 | 12/15/37 | 5478976 |
|  | TOTAL NEBRASKA |  |  | 70519839 |
|  | **NEVADA - 0.3%** |  |  |  |
| 1650000 | Henderson, Nevada, Limited Obligation Bonds, Local Improvement District T-18 Inspirada, Refunding Series 2016 | 4.000 | 09/01/32 | 1574386 |
| 2135000 | Henderson, Nevada, Limited Obligation Bonds, Local Improvement District T-18 Inspirada, Refunding Series 2016 | 4.000 | 09/01/35 | 1933872 |
| 3585000 | Las Vegas Convention and Visitors Authority, Nevada, Revenue Bonds, Refunding Series 2017B | 4.000 | 07/01/34 | 3596047 |
| 2860000 | Nevada Housing Division, Single Family Housing Mortgage Revenue Bonds, Refunding Series 2021A | 2.200 | 10/01/41 | 2002303 |
| 5000000 | Nevada State, General Obligation Bonds, Limited Tax Capital Improvement & Cultural Affairs, Refunding Series 2025A | 5.000 | 10/01/25 | 5056397 |
| 1615000 (c) | Sparks, Nevada, Sales Tax Revenue Bonds, Tourism Improvement District 1 Legends at Sparks Marina, Refunding Senior Series 2019A | 2.750 | 06/15/28 | 1571795 |
| 6760000 | Washoe County School District, Nevada, General Obligation Bonds, Limited Tax Improvement Series 2024B | 3.000 | 06/01/38 | 5963162 |
| 4000000 | Washoe County, Nevada, Gas and Water Facilities Revenue Bonds, Sierra Pacific Power Company, Refunding Series 2016B, (Mandatory Put 10/01/29) | 3.625 | 03/01/36 | 3986869 |
|  | TOTAL NEVADA |  |  | 25684831 |
|  | **NEW HAMPSHIRE - 1.1%** |  |  |  |
| 16906788 | National Finance Authority, New Hampshire, Municipal Certificates Series 2020-1 Class A | 4.125 | 01/20/34 | 16866712 |
| 10490555 | National Finance Authority, New Hampshire, Municipal Certificates Series 2022-2 Class A | 4.000 | 10/20/36 | 10187280 |
| 2942944 | National Finance Authority, New Hampshire, Municipal Certificates Social Series 2023-2 Class A | 3.875 | 01/20/38 | 2782292 |
| 6269228 | National Finance Authority, New Hampshire, Municipal Certificates Social Series 2024-1 Class A | 4.250 | 07/20/41 | 6049612 |
| 5591395 | National Finance Authority, New Hampshire, Municipal Certificates Social Series 2024-2 Class A | 3.625 | 08/20/39 | 5145877 |
| 5784651 | National Finance Authority, New Hampshire, Municipal Certificates Social Series 2024-4 Class A | 4.180 | 11/20/39 | 5684256 |
| 14000000 | New Hampshire Business Finance Authority, Pollution Control Revenue Bonds, United Illuminating Company, Refunding Series 2003A | 4.500 | 10/01/33 | 14216819 |
| 1145000 (e) | New Hampshire Business Finance Authority, Water Facility Revenue Bonds, Pennichuck Water Works Inc. Project , Series 2015A., (Pre-refunded 1/01/26), (AMT) | 4.250 | 01/01/36 | 1152514 |

---

78 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW HAMPSHIRE** (continued) |  |  |  |
| $1000000 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Concord Hospital, Series 2021A | 4.000% | 10/01/32 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1007347 |
| 1000000 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Concord Hospital, Series 2021A | 4.000 | 10/01/34 | 1001369 |
| 1000000 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Concord Hospital, Series 2021A | 4.000 | 10/01/38 | 977387 |
| 1000000 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Elliot Hospital, Series 2016 | 5.000 | 10/01/38 | 997915 |
| 1255000 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Southern New Hampshire Medical Center, Series 2016 | 3.500 | 10/01/34 | 1206846 |
| 1515000 | New Hampshire Housing Finance Authority, Single Family Mortgage Acquisition Bonds, Social Series 2024A | 4.050 | 07/01/39 | 1473108 |
| 1990000 | New Hampshire Housing Finance Authority, Single Family Mortgage Acquisition Bonds, Social Series 2024A | 4.500 | 07/01/44 | 1955877 |
| 10370000 | New Hampshire Housing Finance Authority, Single Family Mortgage Acquisition Bonds, Social Series 2024C | 4.450 | 07/01/44 | 10139550 |
| 2505000 | New Hampshire Housing Finance Authority, Single Family Mortgage Acquisition Bonds, Social Series 2025A | 4.150 | 07/01/40 | 2457413 |
| 2375000 | New Hampshire Housing Finance Authority, Single Family Mortgage Acquisition Bonds, Social Series 2025A | 4.500 | 07/01/45 | 2328909 |
|  | TOTAL NEW HAMPSHIRE |  |  | 85631083 |
|  | **NEW JERSEY - 3.2%** |  |  |  |
| 5925000 | Bergen County Improvement Authority, New Jersey, County Guaranteed Governmental Pooled Project Notes, Series 2024 | 4.500 | 05/28/25 | 5940049 |
| 1580000 | Borough of Fair Lawn, Bergen County, New Jersey, General Obligation Bonds, General Capital and Water Utility Series 2021 | 2.000 | 09/01/32 | 1340020 |
| 1220000 | Clifton, New Jersey, General Obligation Bonds, Refunding Series 2021 - BAM Insured | 2.000 | 08/15/29 | 1114974 |
| 2075000 | Clifton, New Jersey, General Obligation Bonds, Refunding Series 2021 - BAM Insured | 2.000 | 08/15/30 | 1842955 |
| 2060000 | Clifton, New Jersey, General Obligation Bonds, Refunding Series 2021 - BAM Insured | 2.000 | 08/15/31 | 1770941 |
| 6800000 | Delaware River Port Authority, New Jersey and Pennsylvania, Revenue Bonds, Series 2013 | 5.000 | 01/01/37 | 6804030 |
| 10000000 | East Brunswick Township, Middlesex County, New Jersey, General Obligation Bonds, General Improvement Water Utility Bond Anticipation Notes Series 2024 | 4.500 | 07/15/25 | 10050392 |
| 2385000 | East Brunswick Township, Middlesex County, New Jersey, General Obligation Bonds, Series 2020 | 2.000 | 07/15/30 | 2144824 |
| 1095000 | East Brunswick Township, Middlesex County, New Jersey, General Obligation Bonds, Series 2021 | 2.000 | 02/15/26 | 1080150 |
| 1385000 | East Brunswick Township, Middlesex County, New Jersey, General Obligation Bonds, Series 2021 | 2.000 | 02/15/27 | 1341448 |
| 1355000 | East Brunswick Township, Middlesex County, New Jersey, General Obligation Bonds, Series 2021 | 2.000 | 02/15/30 | 1229924 |
| 1410000 | Flemington-Raritan Regional School District, Hunterdon County, New Jersey, General Obligation Bonds, Series 2019 | 2.375 | 09/01/34 | 1172559 |
| 1585000 | Gloucester Township, New Jersey, General Obligation Bonds, Series 2019 - BAM Insured | 2.250 | 02/01/29 | 1488151 |
| 4115000 | New Jersey Economic Development Authority, New Jersey, Transit Transportation Project Revenue Bonds, Series 2020A | 5.000 | 11/01/32 | 4364310 |
| 1350000 | New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013, (AMT) | 5.000 | 01/01/28 | 1352331 |
| 2345000 | New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013 - AGM Insured, (AMT) | 5.000 | 01/01/31 | 2353306 |
| 2000000 | New Jersey Economic Development Authority, Private Activity Bonds, The Goethals Bridge Replacement Project, Series 2013, (AMT) | 5.375 | 01/01/43 | 2002181 |
| 7290000 | New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Refunding Subordinate Series 2017A | 3.375 | 07/01/30 | 6976295 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **79** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW JERSEY** (continued) |  |  |  |
| $25000000 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2015XX | 5.000% | 06/15/27 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25081423 |
| 700000 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Social Series 2021QQQ | 5.000 | 06/15/26 | 716148 |
| 455000 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Social Series 2021QQQ | 5.000 | 06/15/27 | 473715 |
| 430000 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Social Series 2021QQQ | 5.000 | 06/15/28 | 454758 |
| 5000000 | New Jersey Economic Development Authority, Special Facility Revenue Bonds, Port Newark Container Terminal LLC Project, Refunding Series 2017, (AMT) | 5.000 | 10/01/47 | 4934149 |
| 37560000 | New Jersey Economic Development Authority, Water Facilities Revenue Bonds, New Jersey-American Water Company Inc.<br> Project, Refunding Series 2019A, (AMT), (Mandatory Put 12/03/29) | 2.200 | 10/01/39 | 32756628 |
| 5295000 | New Jersey Economic Development Authority, Water Facilities Revenue Bonds, New Jersey-American Water Company Inc.<br> Project, Refunding Series 2020B, (AMT), (Mandatory Put 6/01/28) | 3.750 | 11/01/34 | 5275869 |
| 3345000 | New Jersey Health Care Facilities Authority, Revenue Bonds, Atlanticare Health System Obligated Group Issue, Series 2021 | 2.375 | 07/01/46 | 2110788 |
| 1230000 | 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 | 1240969 |
| 205000 | New Jersey Higher Education Student Assistance Authority, Student Loan Revenue Bonds, Senior Lien Series 2017-1A, (AMT) | 3.500 | 12/01/29 | 204599 |
| 530000 | New Jersey Higher Education Student Assistance Authority, Student Loan Revenue Bonds, Senior Lien Series 2017-1A, (AMT) | 3.750 | 12/01/31 | 529489 |
| 540000 | New Jersey Higher Education Student Assistance Authority, Student Loan Revenue Bonds, Senior Lien Series 2017-1A, (AMT) | 4.000 | 12/01/32 | 539699 |
| 230000 | New Jersey Higher Education Student Assistance Authority, Student Loan Revenue Bonds, Senior Lien Series 2017-1A, (AMT) | 3.750 | 12/01/33 | 229774 |
| 515000 | New Jersey Housing and Mortgage Finance Agency, Single Family Housing Revenue Bonds, Series 2018A | 3.750 | 10/01/35 | 496142 |
| 80000 | New Jersey State, General Obligation Bonds, Covid-19 Emergency Series 2020A | 5.000 | 06/01/25 | 80266 |
| 20000 | New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2016A-1 | 5.000 | 06/15/29 | 20389 |
| 3000000 | New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2018A | 5.000 | 06/15/28 | 3063300 |
| 6795000 | New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2018A | 5.000 | 06/15/29 | 6928913 |
| 5635000 | New Jersey Transportation Trust Fund Authority, Transportation Program Bonds, Forward Delivery Series 2022AA | 5.000 | 06/15/33 | 6159072 |
| 5020000 | New Jersey Transportation Trust Fund Authority, Transportation Program Bonds, Series 2022BB | 4.000 | 06/15/42 | 4649260 |
| 1830000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Refunding Series 2006C - FGIC Insured | 0.000 | 12/15/31 | 1439157 |
| 5065000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019A | 5.000 | 12/15/25 | 5133291 |
| 440000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019A | 5.000 | 12/15/26 | 454096 |
| 10230000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019A | 5.000 | 12/15/33 | 10840761 |
| 5265000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019A | 4.000 | 12/15/39 | 5028711 |
| 7570000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019AA | 3.750 | 06/15/33 | 7455955 |
| 6190000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019BB | 5.000 | 06/15/33 | 6486422 |
| 2570000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2020AA | 4.000 | 06/15/36 | 2536980 |
| 2825000 | Ocean City, New Jersey, General Obligation Bonds, General Improvement Series 2019 | 2.250 | 09/15/33 | 2395076 |

---

80 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW JERSEY** (continued) |  |  |  |
| $2345000 | Ocean City, New Jersey, General Obligation Bonds, Refunding General Improvement Series 2016 | 1.000% | 11/15/28 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2113072 |
| 1530000 | South Orange & Maplewood School District, Essex County, New Jersey, General Obligation Bonds, Series 2021 | 2.125 | 08/15/42 | 1010320 |
| 6190000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 5.000 | 06/01/28 | 6437464 |
| 14150000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 5.000 | 06/01/29 | 14669362 |
| 3320000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 5.000 | 06/01/31 | 3428628 |
| 2180000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 5.000 | 06/01/34 | 2237590 |
| 6205000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 5.000 | 06/01/36 | 6343015 |
| 11265000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 4.000 | 06/01/37 | 10812621 |
| 2410000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018B | 5.000 | 06/01/46 | 2357787 |
| 2585000 | Toms River Board of Education, Ocean County, New Jersey, General Obligation Bonds, Regional Schools Series 2019 | 2.000 | 07/15/26 | 2537208 |
| 1255000 | West Morris Regional High School District, New Jersey, General Obligation Bonds, School Series 2024 | 0.050 | 08/15/25 | 1241044 |
|  | TOTAL NEW JERSEY |  |  | 245272750 |
|  | **NEW MEXICO - 0.5%** |  |  |  |
| 6355000 | Farmington, New Mexico, Pollution Control Revenue Bonds, Public Service Company of New Mexico San Juan and Four Corners Projects, Refunding Series 2016B | 2.150 | 04/01/33 | 5243828 |
| 1160000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2018B | 3.750 | 07/01/38 | 1076248 |
| 3110000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2018C | 3.750 | 07/01/38 | 2976634 |
| 3305000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2019D | 3.000 | 07/01/39 | 2783915 |
| 1635000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2019F | 2.850 | 07/01/39 | 1341571 |
| 2485000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2021A | 2.150 | 07/01/41 | 1728381 |
| 4845000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2021C | 2.100 | 07/01/41 | 3335793 |
| 3490000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2021D | 2.350 | 07/01/41 | 2525432 |
| 780000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2024C | 4.100 | 09/01/39 | 765298 |
| 1950000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2024C | 4.600 | 09/01/44 | 1927048 |
| 6080000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2024E | 4.450 | 09/01/44 | 5961411 |
| 600000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2024G | 4.100 | 09/01/39 | 588691 |
| 2550000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2024G | 4.375 | 09/01/44 | 2479077 |
| 2360000 | New Mexico Municipal Energy Acquisition Authority, Gas Supply Revenue Bonds, Refunding & Acquisition Series 2025, (Mandatory Put 11/01/30) | 5.000 | 06/01/54 | 2494428 |
|  | TOTAL NEW MEXICO |  |  | 35227755 |
|  | **NEW YORK - 5.3%** |  |  |  |
| 1250000 | Battery Park City Authority, New York, Revenue Bonds, Senior Series 2023B | 5.000 | 11/01/35 | 1424758 |
| 650000 (c) | Build NYC Resource Corporation, New York, Revenue Bonds, Albert Einstein College of Medicine, Inc, Series 2023 | 7.250 | 06/01/55 | 688307 |
| 3390000 (c) | Build NYC Resource Corporation, New York, Revenue Bonds, Family Life Academy Charter School, Series 2020A-1 | 5.250 | 06/01/40 | 3271149 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **81** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK** (continued) |  |  |  |
| $4210000 (c) | Build NYC Resource Corporation, New York, Revenue Bonds, Family Life Academy Charter School, Series 2020B-1 | 5.000% | 06/01/40 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3955764 |
| 5000000 | Dormitory Authority of the State of New York, Revenue Bonds, Northwell Healthcare Inc, Series 2019B-1, (Mandatory Put 11/01/28) | 1.800 | 05/01/48 | 4690515 |
| 1900000 (c) | Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017 | 5.000 | 12/01/25 | 1903436 |
| 1400000 (c) | Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017 | 5.000 | 12/01/27 | 1405573 |
| 1300000 (c) | Dormitory Authority of the State of New York, Revenue Bonds, Orange Regional Medical Center Obligated Group, Series 2017 | 5.000 | 12/01/29 | 1301579 |
| 5140000 | Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose Series 2016A Group A | 5.000 | 02/15/37 | 5243197 |
| 6965000 (e) | Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, General Purpose, Series 2018A, (ETM) | 5.000 | 03/15/28 | 7435743 |
| 5000000 | Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Second Indenture Fiscal 2017 Series A - BAM Insured | 5.000 | 02/15/42 | 5102585 |
| 5845000 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Notes Series 2021 | 1.000 | 09/01/25 | 5775325 |
| 6000000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Green Climate Bond Certified Series 2020D-1 | 5.000 | 11/15/43 | 6134483 |
| 8000000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Green Refunding Series 2025A | 5.000 | 11/15/41 | 8410296 |
| 1110000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Series 2016D | 5.000 | 11/15/31 | 1135817 |
| 5000000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2015A-1 | 5.000 | 11/15/45 | 5012252 |
| 6000000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2021A-2 | 4.000 | 11/15/42 | 5520068 |
| 1140000 | Monroe County Industrial Development Corporation, New York, Revenue Bonds, Saint Ann?s Community Project, Series 2019 | 4.000 | 01/01/30 | 1086574 |
| 1910000 | Monroe County Industrial Development Corporation, New York, Revenue Bonds, Saint Ann's Community Project, Series 2019 | 5.000 | 01/01/40 | 1770228 |
| 1525000 | Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014 | 5.000 | 07/01/28 | 1526133 |
| 1000000 | Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014 | 5.000 | 07/01/29 | 1000631 |
| 655000 | Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014B | 5.000 | 07/01/30 | 655544 |
| 2455000 | Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014B | 5.000 | 07/01/32 | 2456407 |
| 1630000 | 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 | 4.000 | 01/01/32 | 1659012 |
| 1045000 | 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 | 01/01/33 | 976529 |
| 5020000 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2015 Series GG | 5.000 | 06/15/39 | 5030251 |
| 4245000 | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2024 Series BB-2 | 5.000 | 06/15/39 | 4656451 |
| 5020000 | New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal Series 2015S-2 | 5.000 | 07/15/36 | 5044642 |
| 7390000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2025 Subseries Series A-1 | 5.000 | 11/01/38 | 8122896 |

---

82 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK** (continued) |  |  |  |
| $3000000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2025 Subseries Series A-1 | 5.000% | 11/01/39 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3278935 |
| 7500000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2024G-1 | 5.000 | 05/01/42 | 7954903 |
| 13820000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2024G-1 | 5.000 | 05/01/43 | 14580273 |
| 5000000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2025C-1 | 5.000 | 05/01/39 | 5483818 |
| 10000000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2025C-1 | 5.000 | 05/01/40 | 10831904 |
| 2485000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Series 2024B | 5.000 | 05/01/38 | 2716735 |
| 3285000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Series 2024D-1 | 5.000 | 11/01/27 | 3464777 |
| 5000 | New York City, New York, General Obligation Bonds, Refunding Fiscal 2015 Series C | 5.000 | 08/01/29 | 5008 |
| 600000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Green Bond Series 2018I | 3.625 | 11/01/33 | 590222 |
| 2000000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Green Bond Series 2018I | 3.875 | 11/01/38 | 1910746 |
| 835000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Sustainability Green Series 2020J | 0.750 | 05/01/25 | 832433 |
| 2115000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Sustainability Series 2019P | 2.600 | 11/01/34 | 1780239 |
| 10105000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Sustainability Series 2019P | 2.850 | 11/01/39 | 8049560 |
| 8105000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Refunding Series 2019C | 3.850 | 11/01/39 | 7587966 |
| 17620000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Refunding Series 2020H | 2.300 | 11/01/40 | 12911873 |
| 3190000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Sustainability Green Series 2024C-1 | 4.375 | 11/01/44 | 3092073 |
| 4400000 | New York State Housing Finance Agency, Housing Revenue Bonds, 160 West 2nd Street Series 2011A-2, (Mandatory Put 4/01/32) | 3.600 | 11/01/44 | 4361175 |
| 5000000 | New York State Housing Finance Agency, State Personal Income Tax Revenue Bonds, Sustainability Series 2024A-2, (Mandatory Put 6/15/29) | 3.350 | 06/15/54 | 5000518 |
| 9795000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 223 | 3.000 | 10/01/39 | 8132584 |
| 10175000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 225 | 2.300 | 10/01/40 | 7464630 |
| 6000000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 227 | 2.300 | 10/01/40 | 4401748 |
| 21935000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 231 | 2.400 | 10/01/41 | 15978268 |
| 5335000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 233 | 2.200 | 04/01/36 | 4197454 |
| 12255000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Social Series 239 | 2.450 | 10/01/41 | 9013795 |
| 1000000 | New York State Power Authority, General Revenue Bonds, Green Series 2024A | 5.000 | 11/15/33 | 1155448 |
| 3250000 | New York State Power Authority, General Revenue Bonds, Green Series 2024A | 5.000 | 11/15/36 | 3725987 |
| 4950000 | New York State Power Authority, General Revenue Bonds, Green Series 2024A | 5.000 | 11/15/37 | 5630228 |
| 745000 | New York State Thruway Authority, General Revenue Bonds, Refunding Series 2024Q | 5.000 | 01/01/28 | 791035 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **83** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK** (continued) |  |  |  |
| $1190000 | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, (AMT) | 5.000% | 07/01/30 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1190239 |
| 910000 | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, (AMT) | 4.000 | 07/01/32 | 890165 |
| 8075000 | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, (AMT) | 4.000 | 07/01/33 | 7838294 |
| 8585000 | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, (AMT) | 5.000 | 07/01/34 | 8586303 |
| 18530000 | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, (AMT) | 5.000 | 07/01/41 | 18532459 |
| 2690000 | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A - AGM Insured, (AMT) | 4.000 | 07/01/46 | 2396775 |
| 30000000 | New York Transportation Development Corporation, New York, Special Facilities Bonds, LaGuardia Airport Terminal B Redevelopment Project, Series 2016A, (AMT) | 5.250 | 01/01/50 | 29998971 |
| 2150000 | 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 | 2150060 |
| 3255000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, John F Kennedy International Airport New Terminal 1 Project, Green Series 2024, (AMT) | 5.250 | 06/30/49 | 3329531 |
| 7800000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Terminal 4 John F Kennedy International Airport Project, Series 2022, (AMT) | 5.000 | 12/01/29 | 8183882 |
| 15020000 | New York Transportation Development Corporation, Special Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment Project, Series 2018, (AMT) | 4.000 | 01/01/36 | 14296978 |
| 1000000 | 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 | 1099043 |
| 6400000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Seventh Series 2018, (AMT) | 5.000 | 09/15/25 | 6451833 |
| 4375000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Thirty-Eighth Series 2023, (AMT) | 5.000 | 07/15/35 | 4675257 |
| 3180000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Thirty-Eighth Series 2023, (AMT) | 5.000 | 07/15/36 | 3372924 |
| 1910000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Thirty-Eighth Series 2023, (AMT) | 5.000 | 07/15/37 | 2013394 |
| 2435000 | Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014 | 5.000 | 07/01/28 | 2437735 |
| 2695000 | Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014 | 5.000 | 07/01/29 | 2697574 |
| 4200000 | Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014 | 5.000 | 07/01/30 | 4203491 |
| 2100000 | Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014 | 5.000 | 07/01/31 | 2101469 |
| 1335000 | Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014 | 5.000 | 07/01/32 | 1335765 |
| 3080000 | Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014 | 5.000 | 07/01/33 | 3081329 |

---

84 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK** (continued) |  |  |  |
| $10870000 | Suffolk County, New York, General Obligation Bonds, Public Improvement Series 2024A | 3.000% | 10/15/39 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9598209 |
| 1000000 | Suffolk Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Senior Series 2021A-2 | 5.000 | 06/01/32 | 1062356 |
| 2275000 | Suffolk Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Senior Series 2021A-2 | 5.000 | 06/01/33 | 2410339 |
| 3750000 | Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Bonds, Senior Lien Green Bonds, Series 2022D-2 | 5.000 | 11/15/39 | 4046511 |
| 2000000 | Troy Capital Resource Corporation, New York, Revenue Bonds, Rensselaer Polytechnic Institute, Refunding Series 2020A. Forward Delivery | 5.000 | 09/01/25 | 2013072 |
|  | TOTAL NEW YORK |  |  | 407314438 |
|  | **NORTH CAROLINA - 0.8%** |  |  |  |
| 1745000 | Appalachian State University, North Carolina, Revenue Bonds, Millennial Campus Indoor Facilities Project Series 2024 | 5.000 | 11/01/28 | 1859118 |
| 1000000 | Appalachian State University, North Carolina, Revenue Bonds, Millennial Campus Indoor Facilities Project Series 2024 | 5.000 | 11/01/29 | 1077857 |
| 10025000 | Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Variable Rate Demand Series 2021B, (Mandatory Put 6/15/27) | 3.250 | 01/15/50 | 9991411 |
| 2395000 | Columbus County Industrial Facilities and Pollution Control Financing Authority, North Carolina, Recovery Zone Facility Bonds, International Paper Company Project, Refunding Series 2020A, (Mandatory Put 6/16/25) | 1.375 | 05/01/34 | 2380847 |
| 4250000 | Cumberland County Industrial Facilities & Pollution Control Financing Authority, North Carolina, Solid Waste Disposal Revenue Bonds, Project Aero, Series 2024, (AMT), (Mandatory Put 11/01/25) | 3.750 | 12/01/27 | 4256170 |
| 1145000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement Series 54-A | 4.550 | 07/01/44 | 1134407 |
| 9600000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement Series 55A | 4.000 | 07/01/39 | 9331166 |
| 4280000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement Series 55A | 4.350 | 01/01/44 | 4147068 |
| 1140000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement Social Series 53-A | 4.000 | 07/01/39 | 1110454 |
| 3110000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series 2019-42 | 2.625 | 07/01/39 | 2445842 |
| 4640000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series 2020-43 | 2.800 | 01/01/40 | 3697073 |
| 12735000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series 2021-47 | 2.300 | 07/01/41 | 9125850 |
| 11625000 | North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Series 2015C | 5.000 | 01/01/29 | 11776381 |
|  | TOTAL NORTH CAROLINA |  |  | 62333644 |
|  | **NORTH DAKOTA - 1.1%** |  |  |  |
| 3505000 | Cass County Joint Water Reserve District, North Dakota, Temporary Improvement Special Assessment Bonds, Refunding Series 2024A | 3.450 | 04/01/27 | 3504250 |
| 1250000 | Fargo, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021A | 4.000 | 05/01/26 | 1251207 |
| 1320000 | Fargo, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021A | 4.000 | 05/01/27 | 1320909 |
| 1385000 | Fargo, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021A | 4.000 | 05/01/28 | 1385939 |
| 5690000 | Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2021 | 5.000 | 12/01/32 | 5917092 |
| 5920000 | Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2021 | 5.000 | 12/01/33 | 6130563 |
| 2675000 | Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2021 | 5.000 | 12/01/34 | 2759239 |
| 500000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021 | 3.000 | 05/01/33 | 426406 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **85** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NORTH DAKOTA** (continued) |  |  |  |
| $500000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021 | 3.000% | 05/01/36 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400146 |
| 3440000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021 | 3.000 | 05/01/46 | 2248184 |
| 1795000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2024C | 4.500 | 05/01/39 | 1760442 |
| 2600000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2019C | 3.200 | 07/01/39 | 2254848 |
| 2450000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2020A | 3.000 | 07/01/40 | 2021970 |
| 4535000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2020B | 2.350 | 07/01/40 | 3368950 |
| 6900000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2021A | 2.250 | 07/01/41 | 4896050 |
| 10000000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Social Series 2021B | 2.450 | 07/01/41 | 7376662 |
| 5240000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Social Series 2024A | 4.550 | 07/01/44 | 5194784 |
| 5000000 | North Dakota Housing Finance Agency, Home Mortgage Program Revenue Bonds, Social Series 2024D | 4.175 | 07/01/39 | 4973828 |
| 3785000 | Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C | 5.000 | 06/01/28 | 3898062 |
| 3000000 | Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C | 5.000 | 06/01/29 | 3082546 |
| 1310000 | Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C | 5.000 | 06/01/31 | 1340691 |
| 3480000 | Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C | 5.000 | 06/01/34 | 3539191 |
| 10980000 | Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C | 5.000 | 06/01/38 | 11095558 |
| 3300000 | Ward County Health Care, North Dakota, Revenue Bonds, Trinity Obligated Group, Series 2017C | 5.000 | 06/01/43 | 3301426 |
|  | TOTAL NORTH DAKOTA |  |  | 83448943 |
|  | **OHIO - 3.7%** |  |  |  |
| 4465000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/27 | 4590384 |
| 6775000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/28 | 7035982 |
| 22145000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/29 | 23169441 |
| 5360000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/30 | 5649114 |
| 9170000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/31 | 9641796 |
| 10275000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/32 | 10779122 |
| 4450000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/33 | 4657737 |
| 2610000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/34 | 2721935 |
| 2760000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/35 | 2871843 |

---

86 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OHIO** (continued) |  |  |  |
| $9235000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 4.000% | 06/01/37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8940696 |
| 3810000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 4.000 | 06/01/38 | 3655049 |
| 2155000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 4.000 | 06/01/39 | 2042920 |
| 8740000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 3.000 | 06/01/48 | 6289979 |
| 3850000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 4.000 | 06/01/48 | 3339343 |
| 13385000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020B-2 Class 2 | 5.000 | 06/01/55 | 11814973 |
| 6500000 | Columbus Regional Airport Authority, Ohio, Revenue Bonds, John Glenn Columbus International Airport, Series 2025A, (AMT) | 5.000 | 01/01/40 | 6791123 |
| 5000000 | Columbus Regional Airport Authority, Ohio, Revenue Bonds, John Glenn Columbus International Airport, Series 2025A, (AMT) | 5.250 | 01/01/41 | 5330770 |
| 2160000 | Hamilton, Ohio, General Obligation Bonds, Various Purpose, Limited Tax Bond Anticipation Notes Series 2024 | 4.000 | 12/17/25 | 2173279 |
| 1080000 | Montgomery County, Ohio, Hospital Facilities Revenue Bonds, Kettering Health Network Obligated Group Project, Refunding & Improvement Series 2021 | 3.000 | 08/01/40 | 877665 |
| 3410000 | Muskingum County, Ohio, Hospital Facilities Revenue Bonds, Genesis HealthCare System Obligated Group Project, Series 2013 | 5.000 | 02/15/27 | 3427857 |
| 7000000 | Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Generation Corporation Project, Refunding Series 2009D | 3.375 | 08/01/29 | 6860558 |
| 2200000 | Ohio Air Quality Development Authority, Ohio, Pollution Control Revenue Bonds, FirstEnergy Nuclear Generation Project, Refunding Series 2009A | 4.750 | 06/01/33 | 2288552 |
| 4850000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2005A, (AMT) | 3.750 | 01/01/29 | 4835160 |
| 25825000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2007A, (AMT), (Mandatory Put 10/01/29) | 2.500 | 08/01/40 | 23985860 |
| 18600000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2007B, (AMT), (Mandatory Put 10/01/29) | 2.500 | 11/01/42 | 17275392 |
| 12560000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2014B, (AMT), (Mandatory Put 10/01/29) | 2.600 | 06/01/41 | 11716480 |
| 16950000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Dayton Power & Light Company Project, Refunding Collateralized Series 2015A, (AMT), (Mandatory Put 6/01/27) | 4.250 | 11/01/40 | 17100780 |
| 2975000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Duke Energy Corporation Project, Refunding Series 2022A, (AMT), (Mandatory Put 6/01/27) | 4.250 | 11/01/39 | 3005168 |
| 300000 (c) | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Pratt Paper Ohio, LLC Project, Series 2017, (AMT) | 3.750 | 01/15/28 | 300038 |
| 5085000 | Ohio Higher Educational Facility Commission, Revenue Bonds, Case Western Reserve University Project, Series 2019C, (Mandatory Put 12/01/26) | 1.625 | 12/01/34 | 4908376 |
| 1815000 | Ohio Higher Educational Facility Commission, Senior Hospital Parking Revenue Bonds, University Circle Incorporated 2020 Project, Series 2020 | 5.000 | 01/15/36 | 1883405 |
| 1950000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2019B | 3.000 | 09/01/39 | 1636678 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **87** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OHIO** (continued) |  |  |  |
| $3585000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2020A | 2.750% | 09/01/40 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2813623 |
| 1390000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2020B | 2.250 | 09/01/40 | 1011268 |
| 3605000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2021A | 2.250 | 09/01/41 | 2552236 |
| 4865000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2021C | 2.450 | 09/01/41 | 3581724 |
| 1325000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Social Series 2024A | 4.350 | 09/01/44 | 1285580 |
| 8540000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Social Series 2024B | 4.500 | 09/01/44 | 8384827 |
| 2900000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Social Series 2025A | 4.150 | 09/01/40 | 2843033 |
| 7885000 | Ohio State, Hospital Revenue Bonds, University Hospitals Health System, Inc., Refunding Series 2016A | 5.000 | 01/15/41 | 7909426 |
| 5650000 | Ohio State, Turnpike Revenue Bonds, Ohio Turnpike and Infrastructure Commission, Infrastructure Projects, Junior Lien Series 2018A | 5.000 | 02/15/27 | 5876198 |
| 1750000 | Olentangy Local School District, Delaware and Franklin Counties, Ohio, General Obligation Bonds, Refunding Series 2025 | 5.000 | 12/01/31 | 1956328 |
| 1185000 | Olentangy Local School District, Delaware and Franklin Counties, Ohio, General Obligation Bonds, Refunding Series 2025 | 5.000 | 12/01/32 | 1337200 |
| 2725000 | Olentangy Local School District, Delaware and Franklin Counties, Ohio, General Obligation Bonds, Refunding Series 2025 | 5.000 | 12/01/33 | 3098431 |
| 3410000 | Toledo-Lucas County Port Authority, Ohio, Development Revenue Bonds, Northwest Ohio Bond Fund, HB Magruder Memorial Hospital Project, Series 2021F | 2.250 | 11/15/36 | 2626446 |
| 725000 | Tuscarawas County Economic Development and Finance Alliance, Ohio, Higher Education Facilities Revenue Bonds, Ashland University, Refunding & Improvement Series 2015 | 5.375 | 03/01/27 | 724970 |
| 4800000 (e) | Van Wert County Hospital, Ohio, Revenue Bonds, Van Wert Health Obligated Group Refunding Facilities Improvement Series 2020, (Pre-refunded 12/01/29) | 6.125 | 12/01/49 | 5304504 |
| 11700000 | Washington County, Ohio, Hospital Facilities Revenue Bonds, Memorial Health System Obligated Group, Series 2022 | 6.375 | 12/01/37 | 12541279 |
|  | TOTAL OHIO |  |  | 285444528 |
|  | **OKLAHOMA - 2.8%** |  |  |  |
| 1065000 | Bryan County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Durant Public Schools Project, Refunding Series 2020 | 4.000 | 12/01/28 | 1093283 |
| 1775000 | Bryan County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Durant Public Schools Project, Series 2020 | 2.000 | 09/01/28 | 1659113 |
| 1850000 | Bryan County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Durant Public Schools Project, Series 2020 | 2.000 | 09/01/29 | 1686055 |
| 1800000 | Bryan County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Durant Public Schools Project, Series 2020 | 2.750 | 09/01/30 | 1695227 |
| 1790000 | Bryan County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Durant Public Schools Project, Series 2020 | 2.750 | 09/01/31 | 1648042 |
| 7830000 | Canadian County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Piedmont Public Schools Project, Series 2024 | 4.000 | 08/15/33 | 7948230 |
| 12345000 | Canadian County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Piedmont Public Schools Project, Series 2024 | 4.000 | 08/15/34 | 12463945 |
| 1585000 | Carter County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Plainview Public Schools Project, Series 2021A | 4.000 | 12/01/35 | 1611926 |

---

88 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OKLAHOMA** (continued) |  |  |  |
| $10000000 | Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Public Schools Project, Series 2021 | 4.000% | 06/01/31 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10313931 |
| 10000000 | Cleveland County Independent School District 29 Norman, Oklahoma, General Obligation Bonds, Combined Purpose Series 2024 | 4.000 | 03/01/26 | 10087706 |
| 910000 | Cleveland County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Norman Technology Center Project, Series 2021 | 4.000 | 05/01/27 | 928529 |
| 945000 | Cleveland County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Norman Technology Center Project, Series 2021 | 4.000 | 05/01/28 | 969583 |
| 960000 | Cleveland County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Norman Technology Center Project, Series 2021 | 4.000 | 05/01/29 | 988130 |
| 875000 | Cleveland County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Norman Technology Center Project, Series 2021 | 4.000 | 05/01/30 | 899091 |
| 690000 | Cleveland County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Norman Technology Center Project, Series 2021 | 4.000 | 05/01/31 | 710085 |
| 930000 | Cleveland County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Norman Technology Center Project, Series 2021 | 4.000 | 05/01/32 | 956641 |
| 800000 | Cleveland County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Norman Technology Center Project, Series 2021 | 4.000 | 05/01/33 | 820917 |
| 900000 | Cleveland County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Norman Technology Center Project, Series 2021 | 4.000 | 05/01/34 | 920908 |
| 1070000 | Cleveland County Public Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Norman Technology Center Project, Series 2021 | 4.000 | 05/01/35 | 1089449 |
| 1470000 | Comanche County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Elgin Public Schools Project, Series 2017A | 5.000 | 12/01/28 | 1551378 |
| 1410000 | Comanche County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Elgin Public Schools Project, Series 2017A | 5.000 | 12/01/31 | 1481351 |
| 2620000 | Garfield County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Enid Public Schools Project, Series 2016A | 5.000 | 09/01/29 | 2678612 |
| 5290000 | Garfield County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Enid Public Schools Project, Series 2016A | 5.000 | 09/01/31 | 5406130 |
| 3145000 | Garvin County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Wynnewood Public Schools Project, Series 2018 | 3.625 | 09/01/36 | 3068743 |
| 1365000 | Grady County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Amber-Pocasset Public Schools Project, Series 2019 | 4.000 | 09/01/32 | 1380516 |
| 1485000 | Grady County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Amber-Pocasset Public Schools Project, Series 2019 | 4.000 | 09/01/34 | 1481525 |
| 1000000 | Grady County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Amber-Pocasset Public Schools Project, Series 2019 | 4.000 | 09/01/36 | 978161 |
| 1890000 | Grady County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Tuttle Public Schools Project, Series 2019 | 4.000 | 09/01/32 | 1911483 |
| 1735000 | Grady County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Tuttle Public Schools Project, Series 2019 | 4.000 | 09/01/33 | 1755540 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **89** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OKLAHOMA** (continued) |  |  |  |
| $1000000 | Grady County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Tuttle Public Schools Project, Series 2019 | 4.000% | 09/01/34 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1008451 |
| 2490000 | Lincoln County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Stroud Public Schools Project, Series 2016 | 5.000 | 09/01/26 | 2550861 |
| 890000 | Love County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Marietta Public Schools Project, Series 2021 | 4.000 | 12/01/33 | 907818 |
| 920000 | Love County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Marietta Public Schools Project, Series 2021 | 4.000 | 12/01/34 | 937159 |
| 960000 | Love County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Marietta Public Schools Project, Series 2021 | 4.000 | 12/01/35 | 973473 |
| 1280000 | McClain County Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Purcell Public Schools Project, Series 2018 | 5.000 | 09/01/30 | 1348021 |
| 1565000 | McClain County Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Purcell Public Schools Project, Series 2018 | 5.000 | 09/01/34 | 1632898 |
| 5025000 | Oklahoma County Independent School District 89 Oklahoma City, Oklahoma, General Obligation Bonds, Combined Purpose Series 2024A | 1.250 | 07/01/26 | 4924738 |
| 590000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B | 5.000 | 08/15/28 | 611212 |
| 9505000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B | 5.000 | 08/15/33 | 9739407 |
| 8230000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B | 5.000 | 08/15/38 | 8343614 |
| 3795000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B | 5.250 | 08/15/43 | 3849405 |
| 2480000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B | 5.500 | 08/15/57 | 2512122 |
| 4975000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Taxable Series 2022 | 5.500 | 08/15/37 | 5118427 |
| 970000 | Oklahoma Housing Finance Agency, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2019A | 3.000 | 09/01/39 | 814142 |
| 1240000 | Oklahoma Housing Finance Agency, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2020A | 3.000 | 09/01/40 | 1023202 |
| 5725000 | Oklahoma State Turnpike Authority, Turnpike System Revenue Bonds, Second Senior Series 2025A | 5.000 | 01/01/40 | 6256395 |
| 2475000 | Oklahoma State Turnpike Authority, Turnpike System Revenue Bonds, Second Senior Series 2025A | 5.000 | 01/01/41 | 2686154 |
| 4530000 | Oklahoma State Turnpike Authority, Turnpike System Revenue Bonds, Second Senior Series 2025A | 5.000 | 01/01/42 | 4881197 |
| 1505000 | Pontotoc County Educational Facilities Authority, Oklahoma, Facilities Lease Revenue Bonds, Ada Public Schools Project, Series 2014 | 5.000 | 09/01/25 | 1514712 |
| 745000 | Pontotoc County Educational Facilities Authority, Oklahoma, Facilities Lease Revenue Bonds, Ada Public Schools Project, Series 2021 | 4.000 | 09/01/29 | 758268 |
| 440000 | Pontotoc County Educational Facilities Authority, Oklahoma, Facilities Lease Revenue Bonds, Ada Public Schools Project, Series 2021 | 4.000 | 09/01/30 | 447097 |
| 985000 | Pontotoc County Educational Facilities Authority, Oklahoma, Facilities Lease Revenue Bonds, Ada Public Schools Project, Series 2021 | 4.000 | 09/01/31 | 995181 |
| 7800000 | Tulsa County Independent School District 001 Tulsa, Oklahoma, General Obligation Bonds, Combined Purpose Series 2022A | 2.000 | 03/01/27 | 7586930 |
| 1540000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Berryhill Public Schools Project, Series 2020 | 2.000 | 09/01/27 | 1471680 |

---

90 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OKLAHOMA** (continued) |  |  |  |
| $1605000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Berryhill Public Schools Project, Series 2020 | 2.000% | 09/01/28 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1500212 |
| 1670000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Berryhill Public Schools Project, Series 2020 | 2.000 | 09/01/29 | 1522006 |
| 3150000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Berryhill Public Schools Project, Series 2020 | 2.000 | 09/01/30 | 2804673 |
| 3840000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2016 | 5.000 | 09/01/25 | 3846462 |
| 10755000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2016 | 5.000 | 09/01/26 | 10767486 |
| 5650000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2021A | 4.000 | 09/01/30 | 5774590 |
| 5425000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2021A | 4.000 | 09/01/31 | 5536851 |
| 6260000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jenks Public Schools Project, Series 2015 | 5.000 | 09/01/25 | 6313417 |
| 9955000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jenks Public Schools Project, Series 2015 | 5.000 | 09/01/26 | 10038532 |
| 6980000 | Tulsa, Oklahoma, General Obligation Bonds, Series 2024C | 0.050 | 10/01/37 | 4201671 |
| 2580000 | Washington County Rural Water District 3, Oklahoma, Revenue Bonds, Refunding & Capital improvement Series 2020 | 3.000 | 09/15/35 | 2345081 |
| 2165000 | Weatherford Industrial Trust Educational, Oklahoma, Facilities Lease Revenue Bonds, Weatherford Public Schools Project, Series 2019 | 5.000 | 03/01/29 | 2279965 |
| 2000000 | Weatherford Industrial Trust Educational, Oklahoma, Facilities Lease Revenue Bonds, Weatherford Public Schools Project, Series 2019 | 5.000 | 03/01/31 | 2100224 |
| 2500000 | Weatherford Industrial Trust Educational, Oklahoma, Facilities Lease Revenue Bonds, Weatherford Public Schools Project, Series 2019 | 5.000 | 03/01/33 | 2614465 |
|  | TOTAL OKLAHOMA |  |  | 214722429 |
|  | **OREGON - 0.7%** |  |  |  |
| 5055000 | Beaverton School District 48J, Washington and Multnomah Counties, Oregon, General Obligation Bonds, Convertible Deferred Interest Series 2017D | 5.000 | 06/15/36 | 5203319 |
| 1760000 | Benton and Linn Counties District School District 509J Corvallis, Oregon, General Obligation Bonds, Series 2018A | 5.000 | 06/15/38 | 1823516 |
| 1245000 | Clackamas Community College District, Oregon, General Obligation Bonds, Deferred Interest Series 2017A | 5.000 | 06/15/40 | 1277802 |
| 1665000 | Clackamas County School District 62, Oregon City, Oregon, General Obligation Bonds, Refunding Series 2018A | 0.000 | 06/15/34 | 1138723 |
| 1510000 | Clackamas County School District 62, Oregon City, Oregon, General Obligation Bonds, Refunding Series 2018A | 0.000 | 06/15/35 | 980979 |
| 1050000 | Clackamas County School District 62, Oregon City, Oregon, General Obligation Bonds, Refunding Series 2018A | 0.000 | 06/15/37 | 612817 |
| 2050000 | Clackamas County School District 62, Oregon City, Oregon, General Obligation Bonds, Refunding Series 2018A | 0.000 | 06/15/39 | 1064407 |
| 2790000 | Multnomah-Clackamas Counties School District 10JT Greham- Barlow, Oregon, General Obligation Bonds, Deferred interest Series 2019A | 0.000 | 06/15/38 | 1526410 |
| 1000000 | Oregon Department of Transportation, Revenue Bonds, Grant Anticipation, Social 2024 | 5.000 | 05/15/39 | 1099845 |
| 6545000 | Oregon Health and Science University, Revenue Bonds, Green Series 2021B-2, (Mandatory Put 2/01/32) | 5.000 | 07/01/46 | 7096359 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **91** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OREGON** (continued) |  |  |  |
| $1830000 | Oregon Housing and Community Services Department, Single Family Mortgage Program Revenue Bonds, Series 2017D | 3.450% | 01/01/38 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1633883 |
| 2870000 | Oregon Housing and Community Services Department, Single Family Mortgage Program Revenue Bonds, Series 2018C | 3.900 | 07/01/38 | 2724301 |
| 7955000 | Oregon Housing and Community Services Department, Single Family Mortgage Program Revenue Bonds, Series 2019A | 2.650 | 07/01/39 | 6282279 |
| 7420000 | Oregon Housing and Community Services Department, Single Family Mortgage Program Revenue Bonds, Series 2021A | 2.250 | 07/01/41 | 5265028 |
| 3325000 | Oregon State, General Obligation Bonds, Veterans Welfare Series 108 of 2021O | 2.600 | 12/01/42 | 2419458 |
| 4050000 | Port of Portland, Oregon, International Airport Revenue Bonds, Green Series 2023-29, (AMT) | 5.000 | 07/01/38 | 4258440 |
| 5000000 | Port of Portland, Oregon, International Airport Revenue Bonds, Series 2022-28, (AMT) | 5.000 | 07/01/33 | 5364631 |
| 1925000 | Salem Hospital Facility Authority, Oregon, Revenue Bonds, Salem Health Projects, Refunding Series 2016A | 5.000 | 05/15/33 | 1954561 |
|  | TOTAL OREGON |  |  | 51726758 |
|  | **PENNSYLVANIA - 4.7%** |  |  |  |
| 1000000 | Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Series 2023A - AGM Insured, (AMT) | 5.000 | 01/01/28 | 1039918 |
| 1400000 | Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Series 2023A - AGM Insured, (AMT) | 5.000 | 01/01/29 | 1469011 |
| 2500000 | Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Series 2023A - AGM Insured, (AMT) | 5.000 | 01/01/30 | 2641088 |
| 1000000 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A | 5.000 | 04/01/36 | 1022296 |
| 10085000 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A | 4.000 | 04/01/37 | 9738063 |
| 5205000 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A | 4.000 | 04/01/38 | 4958750 |
| 6655000 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A | 4.000 | 04/01/44 | 6213927 |
| 2740000 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A | 4.000 | 04/01/44 | 2555086 |
| 1885000 (c) | Allentown Neighborhood Improvement Zone Development Authority, Pennsylvania, Tax Revenue Bonds, City Center Project, Series 2018 | 5.000 | 05/01/28 | 1926854 |
| 2234000 | Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Tower Health Project, Series 2024A-2 | 6.000 | 06/30/34 | 2409105 |
| 29961000 | Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Tower Health Project, Series 2024A-3 | 5.000 | 06/30/39 | 29038411 |
| 14973000 (h) | Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Tower Health Project, Series 2024B-1 | 0.000 | 06/30/44 | 11058098 |
| 4690000 | Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Tower Health Project, Taxable Series 2024A-1 | 8.000 | 06/30/34 | 4800847 |
| 1025000 | Capital Region Water, Pennsylvania, Water Revenue Bonds, Series 2018 | 5.000 | 07/15/27 | 1071137 |
| 5190000 | Clarion County Industrial Development Authority, Pennsylvania, Revenue Bonds, Pennsylvania-American Water Company Project, Refunding Series 2019, (AMT), (Mandatory Put 12/03/29) | 2.450 | 12/01/39 | 4611987 |
| 35160000 | Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Master Settlement, Series 2018 - AGM Insured | 4.000 | 06/01/39 | 33001921 |

---

92 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **PENNSYLVANIA** (continued) |  |  |  |
| $5000000 | Geisinger Authority, Montour County, Pennsylvania, Health System Revenue Bonds, Geisinger Health System, Series 2020B, (Mandatory Put 2/15/27) | 5.000% | 04/01/43 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5125924 |
| 3825000 | Lehigh County General Purpose Authority, Pennsylvania, Hospital Revenue Bonds, Lehigh Valley Health Network, Series 2019A | 4.000 | 07/01/49 | 3368536 |
| 10430000 | Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, Pennsylvania Power and Light Company, Series 2016A | 3.000 | 09/01/29 | 10382795 |
| 16805000 | Luzerne County Industrial Development Authority, Pennsylvania, Revenue Bonds, Pennsylvania-American Water Company Project, Refunding Series 2019, (AMT), (Mandatory Put 12/03/29) | 2.450 | 12/01/39 | 14951543 |
| 1000000 | North Allegheny School District, Allegheny County, Pennsylvania, General Obligation Bonds, Limited Tax Series 2019 | 4.000 | 05/01/44 | 947582 |
| 3160000 | Pennsylvania Economic Development Financing Authority, Private Activity Revenue Bonds, Pennsylvania Rapid Bridge Replacement Project, Series 2015, (AMT) | 5.000 | 12/31/34 | 3190020 |
| 11000000 (f) | Pennsylvania Economic Development Financing Authority, Revenue Bonds, University of Pittsburgh Medical Center, Series 2025A, (Mandatory Put 3/15/35) | 1.000 | 03/15/60 | 11898713 |
| 1500000 (b) | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Republic Services Inc Project, Refunding Series 2019A, (AMT), (Mandatory Put 4/15/25) | 4.150 | 04/01/34 | 1500171 |
| 1250000 | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2009, (Mandatory Put 12/01/26) | 0.950 | 12/01/33 | 1193274 |
| 2650000 (b) | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2013, (AMT), (Mandatory Put 5/01/25) | 3.700 | 08/01/45 | 2649675 |
| 5000000 | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2017A, (AMT), (Mandatory Put 8/01/25) | 4.250 | 08/01/37 | 4999079 |
| 10890000 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, LaSalle University, Series 2012 | 5.000 | 05/01/42 | 8116731 |
| 720000 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, University of Pennsylvania Trustees, Series 2025A | 5.000 | 02/15/35 | 829902 |
| 1135000 | Pennsylvania Higher Educational Facilities Authority, Revenue Bonds, Widener University, Series 2021A | 3.000 | 07/15/39 | 882927 |
| 19900000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2016-120 | 3.100 | 10/01/36 | 17641959 |
| 13045000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2017-124B | 3.500 | 10/01/37 | 11957969 |
| 6615000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2019-128B | 3.500 | 10/01/34 | 6241643 |
| 1000000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2019-130A | 2.700 | 10/01/39 | 791734 |
| 3880000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2019-131A | 3.000 | 10/01/39 | 3221483 |
| 3355000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2020-133 | 2.125 | 10/01/35 | 2661480 |
| 10150000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2020-133 | 2.350 | 10/01/40 | 7516390 |
| 15000000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2021-137 | 2.450 | 10/01/41 | 11032797 |
| 4800000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2022-1394A | 4.000 | 10/01/37 | 4703758 |
| 1000000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2024-145A | 4.600 | 10/01/44 | 989648 |
| 5000000 | Pennsylvania State, General Obligation Bonds, First Series 2024 | 5.000 | 08/15/30 | 5501605 |
| 2345000 | Pennsylvania Turnpike Commission, Motor License Fund- Enhanced Turnpike Special Revenue Bonds, Subordinate Series 2014A | 4.500 | 12/01/34 | 2374011 |
| 5100000 | Pennsylvania Turnpike Commission, Motor License Fund- Enhanced Turnpike Special Revenue Bonds, Subordinate Series 2014A | 4.750 | 12/01/37 | 5166569 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **93** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **PENNSYLVANIA** (continued) |  |  |  |
| $16220000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Capital Appreciation Series 2009E | 6.375% | 12/01/38 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;17271275 |
| 2980000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second Series 2016B-2 | 5.000 | 06/01/29 | 3039900 |
| 22160000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second Series 2016B-2 | 5.000 | 06/01/35 | 22500590 |
| 3035000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second Series 2017 | 5.000 | 12/01/29 | 3180561 |
| 3290000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second Series 2017 | 5.000 | 12/01/31 | 3434132 |
| 4815000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Series 2016 | 5.000 | 06/01/37 | 4859773 |
| 5490000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Series 2016A | 5.000 | 12/01/36 | 5608397 |
| 3800000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Third Series 2017 | 5.000 | 12/01/31 | 3966475 |
| 2305000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Third Series 2017 | 5.000 | 12/01/32 | 2402306 |
| 2110000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Third Series 2017 | 4.000 | 12/01/36 | 2115838 |
| 5000000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2015A-1 | 5.000 | 12/01/40 | 5017613 |
| 1165000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2016A-1 | 5.000 | 12/01/28 | 1188122 |
| 3110000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2017A-1 | 5.000 | 12/01/36 | 3203792 |
| 7445000 | Philadelphia Authority For Industrial Development, Pennsylvania, City Agreement Revenue Bonds, Cultural and Commercial Corridors Program, Refunding Series 2016A | 5.000 | 12/01/29 | 7529388 |
| 1835000 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, La Salle University, Series 2017 | 5.000 | 05/01/31 | 1642523 |
| 2060000 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, La Salle University, Series 2017 | 5.000 | 05/01/33 | 1779408 |
| 1165000 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, La Salle University, Series 2017 | 5.000 | 05/01/34 | 987898 |
| 865000 | Scranton-Lackawanna Health and Welfare Authority, Pennsylvania, University Revenue Bonds, Marywood University, Series 2016 | 3.375 | 06/01/26 | 843390 |
| 3120000 | Washington County Industrial Development Authority, Pennsylvania, College Revenue Bonds, AICUP Financing Program-Washington and Jefferson College Project, Series 2017-PP5 | 3.375 | 11/01/36 | 2684681 |
|  | TOTAL PENNSYLVANIA |  |  | 360650479 |
|  | **PUERTO RICO - 3.4%** |  |  |  |
| 19655000 (c) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2020A | 5.000 | 07/01/30 | 20374265 |
| 22060000 (c) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2020A | 5.000 | 07/01/35 | 22665779 |
| 350000 (c) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2021A | 5.000 | 07/01/33 | 362702 |
| 5575000 (c) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2021B | 4.000 | 07/01/42 | 5009566 |
| 23312000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/27 | 21387478 |
| 27317000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/29 | 23143842 |
| 61978000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/31 | 48601425 |
| 19424000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/33 | 13953671 |
| 2802000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 4.500 | 07/01/34 | 2786456 |

---

94 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **PUERTO RICO** (continued) |  |  |  |
| $11643000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 4.550% | 07/01/40 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11536886 |
| 23847000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/46 | 7823826 |
| 1087000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 4.750 | 07/01/53 | 1046685 |
| 3445000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 5.000 | 07/01/58 | 3397922 |
| 4743000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured Cofina Project Series 2018B-1 | 4.500 | 07/01/34 | 4716689 |
| 9824000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2 | 4.329 | 07/01/40 | 9582911 |
| 12563000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2 | 4.329 | 07/01/40 | 12254694 |
| 76000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2 | 4.784 | 07/01/58 | 72459 |
| 8591707 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 5.375 | 07/01/25 | 8630281 |
| 8341454 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 5.625 | 07/01/27 | 8639544 |
| 16663234 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 5.625 | 07/01/29 | 17859472 |
| 1525507 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 5.750 | 07/01/31 | 1677222 |
| 8728000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 0.000 | 07/01/33 | 5991171 |
| 3334000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 4.000 | 07/01/33 | 3267295 |
| 3446000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 4.000 | 07/01/35 | 3295480 |
| 881000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 4.000 | 07/01/37 | 833672 |
|  | TOTAL PUERTO RICO |  |  | 258911393 |
|  | **RHODE ISLAND - 0.8%** |  |  |  |
| 1275000 | Rhode Island Health and Educational Building Corporation, Educational Institution Revenue Bonds, St. George's School, Series 2021 | 5.000 | 10/01/28 | 1357307 |
| 2000000 | Rhode Island Health and Educational Building Corporation, Hospital Financing Revenue Bonds, Care New England Issue, Refunding Series 2016B | 5.000 | 09/01/36 | 1981263 |
| 1425000 | Rhode Island Health and Educational Building Corporation, Public Schools Financing Program Revenue Bonds, City of Providence, Series 2021D — BAM Insured | 5.000 | 05/15/27 | 1486270 |
| 2595000 | Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity Bond Program, 2019 Series 70 | 3.000 | 10/01/39 | 2154574 |
| 2420000 | Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity Bond Program, 2019 Series 71 | 3.000 | 10/01/39 | 2009275 |
| 13950000 | Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity Bond Program, 2021 Series 75A | 2.250 | 10/01/41 | 9865282 |
| 10000000 | Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity Bonds, Series 73-A | 2.300 | 10/01/40 | 7336246 |
| 4550000 | Rhode Island Housing and Mortgage Finance Corporation, Homeownership Opportunity Bond Program, Series 2020-72A | 2.550 | 10/01/40 | 3471901 |
| 4000000 | Rhode Island Housing and Mortgage Finance Corporation, Homeownership Opportunity Bonds, Series 83-A | 4.600 | 10/01/44 | 3958591 |
| 137445000 | Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2007A | 0.000 | 06/01/52 | 23729055 |
| 4685000 | Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2015B | 4.500 | 06/01/45 | 4685027 |
|  | TOTAL RHODE ISLAND |  |  | 62034791 |

---

See Notes To Financial Statements 95

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **SOUTH CAROLINA - 1.5%** |  |  |  |
| $10000000 | Greenville County School District, South Carolina, General Obligation Bonds, Series 2024B | 5.000% | 06/24/25 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10048163 |
| 5780000 | Greenville Hospital System Board of Trustees, South Carolina, Hospital Revenue Bonds, Series 2014B | 5.000 | 05/01/34 | 5780286 |
| 1055000 | Lexington County Health Services District, Inc., South Carolina, Hospital Revenue Bonds, Lexington Medical Center, Series 2016 | 5.000 | 11/01/34 | 1067484 |
| 1170000 | Lexington County Health Services District, Inc., South Carolina, Hospital Revenue Bonds, Lexington Medical Center, Series 2016 | 5.000 | 11/01/35 | 1182992 |
| 6400000 | Patriots Energy Group Financing Agency, South Carolina, Gas Supply Revenue Bonds, Series 2023A-1, (Mandatory Put 8/01/31) | 5.250 | 10/01/54 | 6790316 |
| 1000000 | Patriots Energy Group, South Carolina, Gas System Revenue Bonds, Improvement and Refunding Series 2021A | 2.250 | 06/01/41 | 663429 |
| 2700000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2019B | 2.900 | 07/01/39 | 2233231 |
| 5720000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2020B | 2.150 | 07/01/40 | 4092713 |
| 17830000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2021A | 2.050 | 07/01/41 | 11944269 |
| 1965000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2024A | 4.500 | 07/01/44 | 1931305 |
| 5485000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2024B | 4.375 | 07/01/44 | 5331501 |
| 985000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2025A | 4.150 | 07/01/40 | 966288 |
| 9320000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2025A | 4.500 | 07/01/45 | 9139129 |
| 5390000 | South Carolina Jobs Economic Development Authority, Economic Development Revenue Bonds, Foothill Affordable Housing Foundation - Paddock Club & Fairway Projects, Senior Credit Enhanced Series 2025, (Mandatory Put 3/01/35) | 4.000 | 03/01/62 | 5180391 |
| 1910000 | South Carolina Jobs-Economic Development Authority, Economic Development Revenue Bonds, FMU Student Housing LLC - Francis Marion University Project, Series 2014A | 5.000 | 08/01/27 | 1911128 |
| 3925000 | South Carolina Jobs-Economic Development Authority, Economic Development Revenue Bonds, FMU Student Housing LLC - Francis Marion University Project, Series 2014A | 5.000 | 08/01/32 | 3924996 |
| 3240000 | South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding & Improvement Series 2015A | 5.000 | 12/01/31 | 3251047 |
| 4595000 | South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding & Improvement Series 2020A | 5.000 | 12/01/31 | 4989917 |
| 7895000 | South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2016A | 5.000 | 12/01/29 | 8038216 |
| 4325000 | South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2016A | 5.000 | 12/01/31 | 4389265 |
| 2200000 | South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2016A | 5.000 | 12/01/37 | 2220625 |
| 4000000 | South Carolina Public Service Authority, Santee Cooper Revenue Obligations, Refunding Series 2024B - AGM Insured | 5.000 | 12/01/42 | 4261764 |
| 10000000 | South Carolina Transportation Infrastructure Bank, Revenue Bonds, Refunding Series 2017A | 5.000 | 10/01/39 | 10244350 |
| 4615000 | Spartanburg County School District 5, South Carolina, General Obligation Bonds, Series 2022 | 3.000 | 03/01/37 | 4113824 |
|  | TOTAL SOUTH CAROLINA |  |  | 113696629 |
|  | **SOUTH DAKOTA - 0.5%** |  |  |  |
| 200000 | Mitchell School District 17-2, South Dakota, General Obligation Bonds, Limited Tax Refunding Certificates, Series 2021 | 2.000 | 08/01/26 | 195563 |
| 400000 | Mitchell School District 17-2, South Dakota, General Obligation Bonds, Limited Tax Refunding Certificates, Series 2021 | 2.000 | 08/01/27 | 384127 |
| 400000 | Mitchell School District 17-2, South Dakota, General Obligation Bonds, Limited Tax Refunding Certificates, Series 2021 | 2.000 | 08/01/29 | 366315 |
| 1545000 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Monument Health, Inc., Series 2020A | 5.000 | 09/01/27 | 1603531 |

---

96 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **SOUTH DAKOTA** (continued) |  |  |  |
| $2495000 | South Dakota Health and Educational Facilities Authority, Revenue Bonds, Regional Health, Refunding Series 2017 | 5.000% | 09/01/31 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2575046 |
| 3925000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2021A | 2.100 | 11/01/41 | 2688880 |
| 7500000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2021B | 2.050 | 11/01/41 | 4997274 |
| 3500000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2024A | 4.450 | 11/01/44 | 3419160 |
| 13055000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2024C | 4.500 | 11/01/44 | 12820420 |
| 7875000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2025A | 4.200 | 11/01/40 | 7838740 |
| 3205000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Social Series 2023A | 4.150 | 11/01/38 | 3119299 |
|  | TOTAL SOUTH DAKOTA |  |  | 40008355 |
|  | **TENNESSEE - 1.2%** |  |  |  |
| 1615000 | Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, CommonSpirit Health, Series 2019A-1 | 5.000 | 08/01/26 | 1656897 |
| 1890000 | Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, CommonSpirit Health, Series 2019A-1 | 5.000 | 08/01/28 | 2001694 |
| 5000000 | Chattanooga, Tennessee, Electric System Enterprise Revenue Bonds, Refunding, Series 2015A | 4.000 | 09/01/33 | 4989408 |
| 2895000 | Knox County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, University Health System, Inc., Series 2017 | 3.375 | 04/01/26 | 2879572 |
| 3250000 | Knox County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, University Health System, Inc., Series 2017 | 5.000 | 04/01/29 | 3305488 |
| 2605000 | Knox County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, University Health System, Inc., Series 2017 | 5.000 | 04/01/30 | 2646119 |
| 2810000 | Knox County Health, Educational and Housing Facilities Board, Tennessee, Revenue Bonds, University Health System, Inc., Series 2017 | 5.000 | 04/01/31 | 2847887 |
| 5135000 | Metropolitan Government of Nashville-Davidson County Health and Educational Facilities Board, Tennessee, Revenue Bonds, Vanderbilt University Medical Center, Series 2016A | 5.000 | 07/01/40 | 5155383 |
| 4435000 | Murfreesboro, Tennessee, General Obligation Bonds, Series 2021 | 3.000 | 06/01/30 | 4310701 |
| 15760000 | Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series 2021A, (Mandatory Put 9/01/28) | 4.000 | 12/01/51 | 15828944 |
| 4095000 | Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series 2022A, (Mandatory Put 12/01/30) | 5.500 | 10/01/53 | 4307492 |
| 410000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2015-1C | 3.950 | 07/01/35 | 406841 |
| 3255000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2018-3 | 3.750 | 07/01/38 | 3028674 |
| 6335000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2018-4 | 3.900 | 07/01/38 | 6074860 |
| 5765000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2019-1 | 3.750 | 07/01/39 | 5381586 |
| 6190000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2019-2 | 3.000 | 07/01/39 | 5169253 |
| 2440000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2019-3 | 2.600 | 07/01/39 | 1910914 |
| 3930000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2019-4 | 2.900 | 07/01/39 | 3250593 |
| 3915000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2021-1 | 2.250 | 07/01/41 | 2782497 |
| 7135000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2021-2 | 2.250 | 07/01/41 | 5062800 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **97** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TENNESSEE** (continued) |  |  |  |
| $5340000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2021-3 | 2.300% | 07/01/41 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3826623 |
| 3335000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2024-3C, (Mandatory Put 10/01/25) | 3.500 | 01/01/56 | 3335199 |
| 260000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Social Series 2024-2A | 4.450 | 07/01/44 | 253980 |
| 2500000 | The Tennessee Energy Acquisition Corporation, Gas Project Revenue Bonds, Series 2018, (Mandatory Put 11/01/25) | 4.000 | 11/01/49 | 2505116 |
|  | TOTAL TENNESSEE |  |  | 92918521 |
|  | **TEXAS - 7.2%** |  |  |  |
| 5000000 | Aldine Independent School District, Harris County, Texas, General Obligation Bonds, Refunding School Building Series 2017A | 5.000 | 02/15/45 | 5066316 |
| 2030000 | Aldine Independent School District, Harris County, Texas, General Obligation Bonds, Refunding School Building Series 2024B | 5.000 | 02/15/28 | 2152513 |
| 2610000 | Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Refunding First Tier Series 2017A | 5.000 | 01/01/28 | 2619499 |
| 2840000 | Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Refunding First Tier Series 2017A | 5.000 | 01/01/30 | 2843901 |
| 1600000 | Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Refunding First Tier Series 2017A | 5.000 | 01/01/32 | 1597557 |
| 20000000 | Board of Regents of the University of Texas System, Revenue Financing System Bonds, Series 2024B | 5.000 | 08/15/40 | 21747588 |
| 9350000 | Board of Regents of the University of Texas System, Revenue Financing System Bonds, Series 2025A | 5.000 | 08/15/28 | 10009891 |
| 8460000 | Board of Regents of the University of Texas, Permanent University Fund Bonds, Series 2024A | 5.000 | 07/01/38 | 9326362 |
| 9025000 | Board of Regents of the University of Texas, Permanent University Fund Bonds, Series 2024A | 5.000 | 07/01/39 | 9883712 |
| 5000000 | Central Texas Regional Mobility Authority, Revenue Bonds, Anticipation Notes Subordinate Lien Series 2021C | 5.000 | 01/01/27 | 5068311 |
| 1950000 (e) | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, (Pre-refunded 7/01/25) | 5.000 | 01/01/32 | 1960451 |
| 1525000 (e) | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, (Pre-refunded 7/01/25) | 5.000 | 01/01/33 | 1533173 |
| 1165000 (e) | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, (Pre-refunded 7/01/25) | 5.000 | 01/01/34 | 1171244 |
| 1145000 | City of Houston, Texas, Convention & Entertainment Facilities Department Hotel Occupancy Tax and Special Revenue Bonds, Refunding Series 2019 | 5.000 | 09/01/32 | 1200594 |
| 1000000 | City of Houston, Texas, Convention & Entertainment Facilities Department Hotel Occupancy Tax and Special Revenue Bonds, Refunding Series 2019 | 5.000 | 09/01/34 | 1043712 |
| 1000000 | City of Houston, Texas, Convention & Entertainment Facilities Department Hotel Occupancy Tax and Special Revenue Bonds, Refunding Series 2019 | 5.000 | 09/01/35 | 1042084 |
| 1000000 | City of Houston, Texas, Convention & Entertainment Facilities Department Hotel Occupancy Tax and Special Revenue Bonds, Refunding Series 2019 | 5.000 | 09/01/36 | 1040395 |
| 3240000 | Collin County, Texas, General Obligation Bonds, Limited Tax Permanent Improvement Series 2023 | 5.000 | 02/15/36 | 3583071 |
| 1225000 | Collin County, Texas, General Obligation Bonds, Limited Tax Permanent Improvement Series 2023 | 5.000 | 02/15/37 | 1346858 |
| 3000000 | Conroe Independent School District, Montgomery County, Texas, General Obligation Bonds, Refunding Series 2024 | 5.000 | 02/15/30 | 3269846 |
| 8570000 | Dallas Fort Worth International Airport, Texas, Joint Revenue Bonds Refunding Series 2023C, (AMT) | 5.000 | 11/01/26 | 8817790 |
| 9070000 | Dallas Fort Worth International Airport, Texas, Joint Revenue Bonds Refunding Series 2023C, (AMT) | 5.000 | 11/01/27 | 9446602 |
| 10000000 | Dallas, Texas, General Obligation Bonds, Refunding and Improvement Series 2024B | 5.000 | 02/15/27 | 10415241 |

---

98 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TEXAS** (continued) |  |  |  |
| $5900000 | Dallas, Texas, Waterworks and Sewer System Revenue Bonds, Refunding Series 2016A | 5.000% | 10/01/41 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5987145 |
| 2775000 | Fort Bend County Industrial Development Corporation, Texas, Revenue Bonds, NRG Energy Inc. Project, Series 2012B | 4.750 | 11/01/42 | 2727275 |
| 4000000 | Grand Prairie Independent School District, Dallas County, Texas, General Obligation Bonds, Refunding Series 2015 | 4.000 | 02/15/31 | 4001152 |
| 5215000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Refunding Series 2020A | 4.125 | 07/01/26 | 5291023 |
| 4025000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Refunding Series 2020A | 3.950 | 07/01/27 | 4097891 |
| 3060000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Refunding Series 2020A | 3.750 | 07/01/28 | 3111306 |
| 3650000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Series 2022B, (Mandatory Put 12/01/28) | 5.000 | 06/01/50 | 3866394 |
| 8960000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Series 2024C, (Mandatory Put 7/01/29) | 5.000 | 07/01/54 | 9567967 |
| 1000000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Texas Childrens Hospital, Series 2019A | 4.000 | 10/01/35 | 987888 |
| 12670000 | Houston Higher Education Finance Corporation, Texas, Revenue Bonds, Rice University, Series 2024 | 5.000 | 05/15/34 | 14351205 |
| 6995000 | Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2023A - AGM Insured, (AMT) | 5.000 | 07/01/28 | 7327147 |
| 11005000 | Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2023A - AGM Insured, (AMT) | 5.000 | 07/01/30 | 11699316 |
| 11535000 | Houston, Texas, Airport System Revenue Bonds, Refunding Subordinate Lien Series 2023A - AGM Insured, (AMT) | 5.000 | 07/01/32 | 12402118 |
| 2440000 | Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal E Project, Refunding Series 2014, (AMT) | 5.000 | 07/01/29 | 2441040 |
| 1000000 | Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal E Project, Series 2021B-1, (AMT) | 4.000 | 07/15/41 | 925379 |
| 8825000 | Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal Improvements Project, Series 2024B, (AMT) | 5.250 | 07/15/33 | 9212962 |
| 12000000 | Houston, Texas, Combined Utility System Revenue Bonds, Refunding First Lien Series 2014D | 5.000 | 11/15/39 | 12011778 |
| 3165000 | Houston, Texas, Combined Utility System Revenue Bonds, Refunding First Lien Series 2018D | 5.000 | 11/15/32 | 3338214 |
| 2615000 | Houston, Texas, Combined Utility System Revenue Bonds, Refunding First Lien Series 2018D | 5.000 | 11/15/33 | 2751356 |
| 8500000 | Houston, Texas, General Obligation Bonds, Refunding Series 2024A | 5.000 | 03/01/41 | 9100952 |
| 7500000 | Houston, Texas, General Obligation Bonds, Refunding Series 2024A | 5.000 | 03/01/42 | 7965210 |
| 1325000 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2014 | 5.000 | 09/01/31 | 1326852 |
| 1000000 | Houston, Texas, Hotel Occupancy Tax and Special Revenue Bonds, Convention and Entertainment Facilities Department, Refunding Series 2021 | 3.000 | 09/01/33 | 931026 |
| 2670000 | Hurst-Euless-Bedford Independent School District, Tarrant County, Texas, General Obligation Bonds, School Building Series 2024 | 5.000 | 08/15/26 | 2752891 |
| 2035000 | Katy Independent School District, Harris, Fort Bend and Waller Counties, Texas, General Obligation Bonds, Refunding Series 2024 | 5.000 | 02/15/29 | 2192539 |
| 3800000 | Klein Independent School District, Harris County, Texas, General Obligation Bonds, Refunding Schoolhouse Series 2015A | 4.000 | 08/01/32 | 3803833 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **99** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TEXAS** (continued) |  |  |  |
| $1000000 | Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015, (AMT) | 5.000% | 11/01/26 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1009236 |
| 2025000 | Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015, (AMT) | 5.000 | 11/01/27 | 2039889 |
| 1570000 | Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015, (AMT) | 5.000 | 11/01/28 | 1580098 |
| 2000000 | Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015, (AMT) | 5.000 | 11/01/29 | 2011796 |
| 2000000 | Love Field Airport Modernization Corporation, Texas, General Airport Revenue Bonds Series 2015, (AMT) | 5.000 | 11/01/30 | 2011004 |
| 4070000 | Lower Colorado River Authority, Texas, Transmission Contract Revenue Bonds, LCRA Transmission Services Corporation Project, Refunding Series 2021 | 5.000 | 05/15/27 | 4243286 |
| 4530000 | Matagorda County Navigation District 1, Texas, Pollution Control Revenue Bonds, Central Power & Light Company Project, Refunding Series 2001A | 2.600 | 11/01/29 | 4267686 |
| 820000 | McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013 | 5.000 | 12/01/25 | 820416 |
| 2720000 | McCamey County Hospital District, Texas, General Obligation Bonds, Series 2013 | 5.250 | 12/01/28 | 2724821 |
| 2700000 (c) | Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Senior Lien Series 2018, (AMT) | 4.625 | 10/01/31 | 2692232 |
| 4000000 (b) | Mission Economic Development Corporation, Texas, Solid Waste Disposal Revenue Bonds, Republic Services Inc. Project, Adjustable Rate Series 2020A, (AMT), (Mandatory Put 6/02/25) | 3.750 | 05/01/46 | 3999195 |
| 10000000 | Mission Economic Development Corporation, Texas, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2023A, (AMT), (Mandatory Put 7/01/27) | 4.250 | 06/01/48 | 10022469 |
| 3860000 (e) | North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C, (Pre- refunded 9/01/31) | 7.000 | 09/01/43 | 4599383 |
| 9190000 (e) | North Texas Tollway Authority, Special Projects System Revenue Bonds, Convertible Capital Appreciation Series 2011C, (Pre- refunded 9/01/31) | 6.750 | 09/01/45 | 10994176 |
| 5355000 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier Series 2023A | 5.000 | 01/01/27 | 5554975 |
| 4000000 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier Series 2024A | 5.000 | 01/01/41 | 4287414 |
| 3750000 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2008D - AGC Insured | 0.000 | 01/01/38 | 2215359 |
| 5000000 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2019A | 3.000 | 01/01/35 | 4637451 |
| 5950000 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2020A | 4.000 | 01/01/37 | 5944732 |
| 7500000 | North Texas Tollway Authority, System Revenue Bonds, Refunding Second Tier Series 2024B | 5.000 | 01/01/32 | 8271200 |
| 5280000 | Pasadena Independent School District, Harris County, Texas, General Obligation Bonds, Refunding Series 2015 | 4.000 | 02/15/34 | 5280510 |
| 1000000 (c) | Port Beaumont Navigation District, Jefferson County, Texas, Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast Energy Project, Series 2020, (AMT) | 3.625 | 01/01/35 | 904595 |
| 6865000 (c) | Port Beaumont Navigation District, Jefferson County, Texas, Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast Energy Project, Series 2021A, (AMT) | 2.750 | 01/01/36 | 5678340 |
| 13675000 (c) | Port Beaumont Navigation District, Jefferson County, Texas, Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast Energy Project, Series 2021A, (AMT) | 2.875 | 01/01/41 | 10567021 |
| 1000000 (c) | Port Beaumont Navigation District, Jefferson County, Texas, Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast Energy Project, Series 2021A, (AMT) | 3.000 | 01/01/50 | 685412 |
| 2000000 (c) | Port Beaumont Navigation District, Jefferson County, Texas, Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast Energy Project, Series 2024A, (AMT) | 5.000 | 01/01/39 | 2017118 |

---

100 *See Notes To Financial Statements*

------

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

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

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TEXAS** (continued) |  |  |  |
| $1265000 | Port of Houston Authority, Harris County, Texas, General Obligation Bonds, First Lien Series 2021 | 5.000% | 10/01/26 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1305586 |
| 2315000 | Round Rock, Texas, Combined Tax and Revenue Certificates of Obligation, Series 2021A | 2.000 | 08/15/43 | 1481907 |
| 1180000 | Round Rock, Texas, Combined Tax and Revenue Certificates of Obligation, Series 2021C | 2.000 | 08/15/43 | 755356 |
| 1520000 | Round Rock, Texas, Combined Tax and Revenue Certificates of Obligation, Series 2021C | 2.000 | 08/15/46 | 905094 |
| 5000000 | San Antonio, Texas, Water System Revenue Bonds, Refunding Junior Lien Series 2015B | 4.000 | 05/15/35 | 5006477 |
| 13980000 | Texas Department of Housing and Community Affairs, Residential Mortgage Revenue Bonds, Series 2024C | 4.450 | 01/01/44 | 13681517 |
| 3535000 | Texas Department of Housing and Community Affairs, Single Family Mortgage Revenue Bonds, Series 2018A | 4.125 | 09/01/38 | 3457837 |
| 4835000 | Texas Department of Housing and Community Affairs, Single Family Mortgage Revenue Bonds, Series 2021A | 2.050 | 09/01/41 | 3230257 |
| 20170000 | Texas Municipal Gas Acquisition and Supply Corporation IV, Gas Supply Revenue Bonds, Series 2023A, (Mandatory Put 1/01/30) | 5.500 | 01/01/54 | 21384389 |
| 15850000 | Texas Municipal Gas Acquisition and Supply Corporation IV, Gas Supply Revenue Bonds, Series 2023B, (Mandatory Put 1/01/34) | 5.500 | 01/01/54 | 17405606 |
| 10000000 | Texas Municipal Gas Acquisition and Supply Corporation V, Texas, Gas Supply Revenue Bonds, Series 2024, (Mandatory Put 1/01/34) | 5.000 | 01/01/55 | 10634677 |
| 7000000 | Texas Private Activity Bond Surface Transportation Corporation, Revenue Bonds, NTE Mobility Partners LLC North Tarrant Express Managed Lanes Project, Refunding Senior Lien Series 2019A | 4.000 | 12/31/37 | 6774398 |
| 3940000 | Texas Private Activity Bond Surface Transportation Corporation, Revenue Bonds, NTE Mobility Partners LLC North Tarrant Express Managed Lanes Project, Refunding Senior Lien Series 2019A | 4.000 | 12/31/38 | 3778459 |
| 1600000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Refunding Series 2020A | 4.000 | 12/31/32 | 1605625 |
| 2800000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Refunding Series 2020A | 4.000 | 06/30/33 | 2801684 |
| 1600000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Refunding Series 2020A | 4.000 | 06/30/35 | 1572917 |
| 10000000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 LLC Segments 3C Project, Series 2019, (AMT) | 5.000 | 06/30/58 | 9926849 |
| 5790000 | Texas State, General Obligation Bonds, College Student Loan Series 2023A, (AMT) | 5.000 | 08/01/36 | 6128694 |
| 6665000 | Texas State, General Obligation Bonds, Texas Transportation Commission, Mobility Fund Refunding Series 2024 | 5.000 | 10/01/32 | 7482224 |
| 10000000 | Texas State, General Obligation Bonds, Transportation Commission Highway Improvement, Series 2016A | 5.000 | 04/01/35 | 10154962 |
| 12000000 | Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Refunding Second Tier Series 2024C | 5.000 | 08/15/38 | 12956923 |
| 6050000 | Texas Transportation Commission, General Obligation Bonds, Highway Improvement Refunding Series 2024 | 5.000 | 04/01/26 | 6185743 |
| 5590000 | Texas Transportation Commission, General Obligation Bonds, Highway Improvement Refunding Series 2024 | 5.000 | 04/01/28 | 5939654 |
| 5000000 | Texas Transportation Commission, Highway Fund Revenue Bonds, Refunding First Tier Series 2024 | 5.000 | 10/01/32 | 5605978 |
| 1125000 | Texas Transportation Commission, State Highway 249 System Revenue Bonds, First Tier Toll Series 2019A | 0.000 | 08/01/35 | 718815 |
| 1590000 | Texas Transportation Commission, State Highway 249 System Revenue Bonds, First Tier Toll Series 2019A | 0.000 | 08/01/36 | 965561 |
| 2070000 | Texas Transportation Commission, State Highway 249 System Revenue Bonds, First Tier Toll Series 2019A | 0.000 | 08/01/37 | 1189437 |
| 1100000 | Texas Transportation Commission, State Highway 249 System Revenue Bonds, First Tier Toll Series 2019A | 0.000 | 08/01/39 | 565248 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **101** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TEXAS** (continued) |  |  |  |
| $3740000 | Travis County, Texas, General Obligation Bonds, Permanent Improvement Limited Tax Series 2024 | 5.000% | 03/01/39 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4087735 |
| 10780000 | Travis County, Texas, General Obligation Bonds, Permanent Improvement Limited Tax Series 2024 | 5.000 | 03/01/40 | 11675238 |
|  | TOTAL TEXAS |  |  | 548783231 |
|  | **UTAH - 0.6%** |  |  |  |
| 1055000 (c) | Black Desert Public Infrastructure District, Utah, Limited Tax General Obligation Bonds Series 2021A | 3.250 | 03/01/31 | 991267 |
| 1600000 (c) | Black Desert Public Infrastructure District, Utah, Limited Tax General Obligation Bonds Series 2021A | 3.500 | 03/01/36 | 1428077 |
| 1300000 (c) | Downtown East Streetcar Sewer Public Infrastructure District, South Salt Lake, Salt Lake County, Utah, Limited Tax General Obligation Bonds, Series 2022A | 5.750 | 03/01/42 | 1295383 |
| 1790000 (c) | MIDA Military Installation Development Authority Golf and Equestrian Center Public Infrastructure District, Utah, Limited Tax and Tax Allocation Revenue Bonds, Series 2021 | 4.125 | 06/01/36 | 1526384 |
| 1250000 (c) | MIDA Mountain Village Public Infrastructure District, Utah, Subordinate Tax Allocation Revenue Bonds, Series 2024-2 | 5.500 | 06/15/39 | 1276400 |
| 3900000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2021A, (AMT) | 5.000 | 07/01/26 | 3977659 |
| 5000000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2021A, (AMT) | 5.000 | 07/01/31 | 5343468 |
| 1405000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.000 | 07/01/30 | 1496406 |
| 9000000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.000 | 07/01/31 | 9618242 |
| 10640000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.000 | 07/01/33 | 11429339 |
| 2700000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.000 | 07/01/35 | 2867618 |
| 1120000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.250 | 07/01/36 | 1217994 |
| 1125000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.250 | 07/01/37 | 1215967 |
| 6660000 | Utah Housing Corporation, Single Family Mortgage Bonds, Series 2024E | 4.600 | 07/01/44 | 6581966 |
|  | TOTAL UTAH |  |  | 50266170 |
|  | **VERMONT - 0.1%** |  |  |  |
| 2985000 | Vermont Economic Development Authority, Mortgage Revenue Bonds, Wake Robin Corporation Project, Series 2021A | 4.000 | 05/01/37 | 2809705 |
| 3439000 | Vermont Housing Finance Agency, Multiple Purpose Bonds, Series 2021A | 2.450 | 11/01/41 | 2526897 |
| 3465000 | Vermont Housing Finance Agency, Multiple Purpose Bonds, Social Series 2024C | 4.450 | 11/01/44 | 3391898 |
|  | TOTAL VERMONT |  |  | 8728500 |
|  | **VIRGINIA - 1.8%** |  |  |  |
| 5260000 | Amelia County Industrial Development Authority, Virginia, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2002, (AMT) | 1.450 | 04/01/27 | 4973570 |
| 7310000 | Arlington County Industrial Development Authority, Virginia, Hospital Revenue Bonds, Virginia Hospital Center, Series 2023A, (Mandatory Put 7/01/31) | 5.000 | 07/01/53 | 7825264 |
| 6345258 | Federal Home Loan Mortgage Corporation, Multifamily Variable Rate Certificates Relating to Municipal Securities Class A Green Series 2024ML-028 | 4.095 | 11/25/42 | 6411358 |
| 5000000 (e) | Hampton Roads Transportation Accountability Commission, Virginia, Revenue Bonds, Hampton Roads Transportation Fund, Senior Lien Bond Anticipation Notes, Series 2021A, (ETM) | 5.000 | 07/01/26 | 5135493 |
| 870000 | James City County Economic Development Authority, Virginia, Residential Care Facility Revenue Bonds, Williamsburg Landing Inc., Refunding Series 2021A | 4.000 | 12/01/35 | 830395 |

---

102 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **VIRGINIA** (continued) |  |  |  |
| $2010000 | Louisa Industrial Development Authority, Virginia, Pollution Control Revenue Bonds, Virginia Electric and Power Company, Refunding Series 2008B, (Mandatory Put 9/02/25) | 0.750% | 11/01/35 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1976470 |
| 1000000 | Stafford County Economic Development Authority, Virginia, Hospital Facilities Revenue Bonds, Mary Washington Healthcare Obligated Group, Refunding Series 2016 | 3.125 | 06/15/31 | 958252 |
| 710000 (c) | Virginia College Building Authority, Educational Facilities Revenue Bonds, Marymount University Project, Refunding Series 2015A | 5.000 | 07/01/45 | 569843 |
| 2810000 | Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2023E-3 | 4.400 | 10/01/44 | 2739370 |
| 1500000 | Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2023E-4 | 4.450 | 07/01/45 | 1466897 |
| 1710000 | Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2023E-5 | 4.150 | 07/01/40 | 1675644 |
| 500000 | Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2023E-5 | 4.500 | 07/01/45 | 490296 |
| 7505000 | Virginia Housing Development Authority, Rental Housing Bonds, Series 2020B | 2.200 | 03/01/40 | 5447590 |
| 10000000 | Virginia Housing Development Authority, Rental Housing Bonds, Series 2023D | 3.450 | 08/01/28 | 9999772 |
| 2600000 | Virginia Housing Development Authority, Rental Housing Bonds, Series 2024H | 3.625 | 06/01/29 | 2590106 |
| 1350000 | Virginia Housing Development Authority, Rental Housing Bonds, Series 2025A | 4.100 | 09/01/40 | 1312980 |
| 3975000 | Virginia Housing Development Authority, Rental Housing Bonds, Series 2025A | 4.450 | 09/01/45 | 3868501 |
| 3220000 | Virginia Small Business Financing Authority, Environmental Facilities Revenue Bonds (Pure Salmon Virginia LLC Project), Escrow Refinancing Series 2022, (AMT), (Mandatory Put 11/20/25) | 4.000 | 11/01/52 | 3221131 |
| 12885000 | Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017, (AMT) | 5.000 | 12/31/49 | 12906281 |
| 12375000 | Virginia Small Business Financing Authority, Private Activity Revenue Bonds, Transform 66 P3 Project, Senior Lien Series 2017, (AMT) | 5.000 | 12/31/56 | 12208939 |
| 5480000 | Virginia Small Business Financing Authority, Revenue Bonds, 95 Express Lanes LLC Project, Refunding Senior Lien Series 2022, (AMT) | 5.000 | 07/01/32 | 5796743 |
| 4000000 | Virginia Small Business Financing Authority, Revenue Bonds, 95 Express Lanes LLC Project, Refunding Senior Lien Series 2022, (AMT) | 5.000 | 01/01/34 | 4201929 |
| 4890000 | Virginia Small Business Financing Authority, Revenue Bonds, 95 Express Lanes LLC Project, Refunding Senior Lien Series 2022, (AMT) | 5.000 | 07/01/36 | 5125232 |
| 3330000 | Virginia Small Business Financing Authority, Revenue Bonds, 95 Express Lanes LLC Project, Refunding Senior Lien Series 2022, (AMT) | 5.000 | 07/01/37 | 3478060 |
| 4540000 | Virginia Small Business Financing Authority, Revenue Bonds, 95 Express Lanes LLC Project, Refunding Senior Lien Series 2022, (AMT) | 5.000 | 01/01/38 | 4732000 |
| 2000000 | Virginia Small Business Financing Authority, Revenue Bonds, 95 Express Lanes LLC Project, Refunding Senior Lien Series 2022, (AMT) | 5.000 | 12/31/47 | 2042426 |
| 3190000 | Virginia Small Business Financing Authority, Revenue Bonds, 95 Express Lanes LLC Project, Refunding Senior Lien Series 2022, (AMT) | 5.000 | 12/31/52 | 3247257 |
| 5250000 | Virginia Small Business Financing Authority, Revenue Bonds, Elizabeth River Crossing OPCO, LLC Project, Refunding Senior Lien Series 2022, (AMT) | 4.000 | 01/01/31 | 5259962 |
| 5500000 | Virginia Small Business Financing Authority, Revenue Bonds, Elizabeth River Crossing OPCO, LLC Project, Refunding Senior Lien Series 2022, (AMT) | 4.000 | 01/01/34 | 5418210 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **103** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **VIRGINIA** (continued) |  |  |  |
| $10000000 | Virginia Small Business Financing Authority, Revenue Bonds, Elizabeth River Crossing OPCO, LLC Project, Refunding Senior Lien Series 2022, (AMT) | 4.000% | 01/01/37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9645414 |
| 1365000 | Wise County Industrial Development Authority, Virginia, Solid Waste and Sewage Disposal Revenue Bonds, Virginia Electric and Power Company, Series 2010A, (Mandatory Put 5/28/27) | 3.800 | 11/01/40 | 1380029 |
|  | TOTAL VIRGINIA |  |  | 136935414 |
|  | **WASHINGTON - 3.2%** |  |  |  |
| 3725000 | Energy Northwest, Washington, Electric Revenue Bonds, Columbia Generating Station, Refunding Series 2024A | 5.000 | 07/01/38 | 4109538 |
| 2725000 | Energy Northwest, Washington, Electric Revenue Bonds, Nuclear Project 1, Refunding Series 2024B | 5.000 | 07/01/26 | 2802240 |
| 8955000 | King County, Washington, Sewer Revenue Bonds, Refunding Junior Lien Series 2020B, (Mandatory Put 1/01/26) | 0.875 | 01/01/42 | 8752037 |
| 7850000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2017C, (AMT) | 5.000 | 05/01/31 | 8047313 |
| 8800000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2018A, (AMT) | 5.000 | 05/01/31 | 9021192 |
| 5300000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2019, (AMT) | 5.000 | 04/01/29 | 5614223 |
| 9685000 | Port of Seattle, Washington, Revenue Bonds, Refunding Intermediate Lien Private Activity Series 2022B, (AMT) | 5.000 | 08/01/30 | 10389364 |
| 3055000 | Port of Seattle, Washington, Revenue Bonds, Refunding Intermediate Lien Series 2016 | 5.000 | 02/01/29 | 3103005 |
| 2740000 | Port of Seattle, Washington, Revenue Bonds, Refunding Intermediate Lien Series 2021C, (AMT) | 5.000 | 08/01/32 | 2927236 |
| 2340000 | Skagit County Public Hospital District 1, Washington, Revenue Bonds, Skagit Valley Hospital, Refunding & Improvement Series 2016 | 5.000 | 12/01/37 | 2343421 |
| 2000000 | Washington Health Care Facilities Authority, Revenue Bonds, CommonSpirit Health, Series 2019A-1 | 5.000 | 08/01/28 | 2118194 |
| 8335000 | Washington Health Care Facilities Authority, Revenue Bonds, CommonSpirit Health, Series 2019B-2, (Mandatory Put 8/01/25) | 5.000 | 08/01/49 | 8349700 |
| 2730000 (e) | Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2015, (Pre- refunded 7/01/25) | 5.000 | 01/01/26 | 2742151 |
| 1285000 (e) | Washington Health Care Facilities Authority, Revenue Bonds, Fred Hutchinson Cancer Research Center, Series 2015, (Pre- refunded 7/01/25) | 5.000 | 01/01/27 | 1290719 |
| 5930000 | Washington Health Care Facilities Authority, Revenue Bonds, MultiCare Health System, Series 2015A | 5.000 | 08/15/40 | 5888448 |
| 5875000 | Washington Health Care Facilities Authority, Revenue Bonds, MultiCare Health System, Series 2015B | 5.000 | 08/15/35 | 5889828 |
| 14085000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Health & Services, Refunding Series 2012A | 5.000 | 10/01/33 | 14090485 |
| 6115000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2018B | 5.000 | 10/01/30 | 6366690 |
| 1715000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2018B | 5.000 | 10/01/31 | 1779186 |
| 6140000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2018B | 5.000 | 10/01/32 | 6357645 |
| 5120000 | Washington Health Care Facilities Authority, Revenue Bonds, Virginia Mason Medical Center, Series 2017 | 5.000 | 08/15/29 | 5262910 |
| 2250000 | Washington Health Care Facilities Authority, Revenue Bonds, Virginia Mason Medical Center, Series 2017 | 5.000 | 08/15/31 | 2305788 |
| 2755000 | Washington Health Care Facilities Authority, Revenue Bonds, Virginia Mason Medical Center, Series 2017 | 5.000 | 08/15/34 | 2806406 |
| 6015000 | Washington Health Care Facilities Authority, Revenue Bonds, Virginia Mason Medical Center, Series 2017 | 5.000 | 08/15/36 | 6102605 |
| 2770000 (c) | Washington State Housing Finance Commission, Non-Profit Housing Revenue Bonds, Eliseo Project, Refunding Ser 2021B-1. TEMPS-80. TAX-EXEMPT MANDATORY PAYDOWN SECURITIES-80 | 2.500 | 07/01/28 | 2618027 |

---

104 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **WASHINGTON** (continued) |  |  |  |
| $6900000 | Washington State Housing Finance Commission, Single Family Program Bonds, Series 2021-1N | 2.200% | 06/01/41 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4853374 |
| 5580000 | Washington State Housing Finance Commission, Single Family Program Bonds, Series 2021-2N | 2.400 | 12/01/41 | 4056242 |
| 40165248 | Washington State Housing Finance Commission, Social Municipal Certificates Multifamily Revenue Bonds, Series 2021-1 Class A | 3.500 | 12/20/35 | 36940677 |
| 6081772 | Washington State Housing Finance Commission, Social Municipal Certificates Multifamily Revenue Bonds, Series 2024A-1 | 3.812 | 03/20/40 | 5655464 |
| 5035000 | Washington State, General Obligation Bonds, Motor Vehicle Fuel Tax & Vehicle Related Fees Refunding Series R-2022D | 4.000 | 07/01/28 | 5206772 |
| 11035000 | Washington State, General Obligation Bonds, Motor Vehicle Fuel Tax & Vehicle Related Fees Refunding Series R-2023B | 5.000 | 07/01/42 | 11766764 |
| 9425000 | Washington State, General Obligation Bonds, Motor Vehicle Fuel Tax & Vehicle Related Fees, Refunding Series R-2024C | 5.000 | 08/01/27 | 9900502 |
| 5450000 | Washington State, General Obligation Bonds, Refunding Various Purpose Series R-2018D | 5.000 | 08/01/27 | 5724959 |
| 5000000 | Washington State, General Obligation Bonds, Refunding Various Purpose Series R-2023A | 5.000 | 08/01/27 | 5252255 |
| 6590000 | Washington State, General Obligation Bonds, Various Purpose Group 1 Series 2024C | 5.000 | 02/01/26 | 6714328 |
| 5035000 | Washington State, General Obligation Bonds, Various Purpose Refunding Series 2025B | 5.000 | 07/01/28 | 5377989 |
| 6750000 | Washington State, General Obligation Bonds, Various Purpose Series 2021A | 5.000 | 08/01/44 | 7017581 |
| 4000000 | Washington State, General Obligation Bonds, Various Purpose Series 2023A | 5.000 | 08/01/45 | 4193564 |
| 4975000 | Whidbey Island Public Hospital District, Island County, Washington, General Obligation Bonds, Whidbey General Hospital, Series 2013 | 5.500 | 12/01/33 | 4821386 |
|  | TOTAL WASHINGTON |  |  | 248560208 |
|  | **WEST VIRGINIA - 0.2%** |  |  |  |
| 6000000 | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company - Amos Project, Series 2011A, (AMT), (Mandatory Put 9/01/25) | 1.000 | 01/01/41 | 5913655 |
| 1675000 (c) | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Core Natural Resources, INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35) | 5.450 | 01/01/55 | 1715773 |
| 1365000 | West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Charleston Area Medical Center, Series 2014A | 5.000 | 09/01/25 | 1366393 |
| 3240000 | West Virginia Housing Development Fund, Housing Finance Revenue Bonds, Social Series 2023D | 4.300 | 11/01/38 | 3095272 |
| 1710000 | West Virginia Housing Development Fund, Housing Finance Revenue Bonds, Social Series 2024A | 4.400 | 11/01/44 | 1668179 |
| 1945000 | West Virginia Housing Development Fund, Housing Finance Revenue Bonds, Social Series 2024D | 3.900 | 11/01/39 | 1832749 |
| 2555000 | West Virginia Housing Development Fund, Housing Finance Revenue Bonds, Social Series 2024D | 4.300 | 11/01/44 | 2462940 |
|  | TOTAL WEST VIRGINIA |  |  | 18054961 |
|  | **WISCONSIN - 2.5%** |  |  |  |
| 6780000 | Central Brown County Water Authority, Wisconsin, Water System Revenue Bonds, Refunding Series 2024A | 5.000 | 11/01/33 | 7516612 |
| 4455000 | Middleton-Cross Plains Area School District, Dane County, Wisconsin, General Obligation Bonds, Refunding Series 2021A | 2.000 | 03/01/26 | 4387711 |
| 4555000 | Middleton-Cross Plains Area School District, Dane County, Wisconsin, General Obligation Bonds, Refunding Series 2021A | 2.000 | 03/01/27 | 4393876 |
| 4320000 | Milwaukee, Wisconsin, General Obligation Bonds, Promissory Notes Series 2024-N1 - AGM Insured | 5.000 | 04/01/30 | 4666466 |
| 10000000 | Public Finance Authority of Wisconsin, Lease Development Revenue Bonds, KU Campus Development Corporation-Central District Development Project, Series 2016 | 5.000 | 03/01/41 | 10088742 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **105** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **WISCONSIN** (continued) |  |  |  |
| $25400000 | (c) | Public Finance Authority of Wisconsin, Limited Obligation PILOT Revenue Bonds, American Dream @ Meadowlands Project, Series 2017 | 6.500% | 12/01/37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25674894 |
| 4550000 |  | Public Finance Authority of Wisconsin, Pollution Control Revenue Bonds, Duke Energy Progress Project, Refunding Series 2022A-2, (Mandatory Put 10/01/26) | 3.300 | 10/01/46 | 4551264 |
| 8455000 |  | Public Finance Authority of Wisconsin, Pollution Control Revenue Bonds, Duke Energy Progress Project, Refunding Series 2022A-2, (Mandatory Put 10/01/30) | 3.700 | 10/01/46 | 8407468 |
| 15000 | (c),(e) | Public Finance Authority of Wisconsin, Revenue Bonds, Roseman University of Health Sciences, Series 2020, (ETM) | 3.000 | 04/01/25 | 15000 |
| 115000 | (c) | Public Finance Authority of Wisconsin, Revenue Bonds, Roseman University of Health Sciences, Series 2020 | 3.000 | 04/01/25 | 115000 |
| 16805000 |  | Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2016A-1 | 2.625 | 11/01/25 | 16636340 |
| 7880000 |  | Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2016A-2 | 2.875 | 05/01/27 | 7713606 |
| 2380000 | (c) | Public Finance Authority, Wisconsin, Educational Revenue Bonds, Lake Norman Charter School, Series 2018A | 4.000 | 06/15/28 | 2377184 |
| 4170000 |  | Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C | 4.050 | 11/01/30 | 4123157 |
| 9085000 |  | Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C | 4.300 | 11/01/30 | 9027862 |
| 8000000 | (f) | Racine Unified School District, Racine County, Wisconsin, General Obligation Bonds, Promissory Notes Series 2025 | 4.000 | 04/01/44 | 7498950 |
| 4750000 | (f) | Racine Unified School District, Racine County, Wisconsin, General Obligation Bonds, Promissory Notes Series 2025 | 4.000 | 04/01/45 | 4415559 |
| 1500000 |  | Sheboygan Area School District, Manitowoc and Sheboygan Counties, Wisconsin, General Obligation Bonds, Promissory Notes Series 2024 | 3.000 | 03/01/39 | 1301777 |
| 1525000 |  | Sheboygan Area School District, Manitowoc and Sheboygan Counties, Wisconsin, General Obligation Bonds, Promissory Notes Series 2024 | 3.000 | 03/01/40 | 1295934 |
| 6130000 |  | West Allis-West Milwaukee, et al School District, Wisconsin, General Obligation Bonds, Promissory Notes Series 2025 | 3.000 | 04/01/39 | 5369948 |
| 1080000 |  | Wisconsin Health & Educational Facs Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2014A | 5.000 | 12/01/26 | 1080812 |
| 4115000 |  | Wisconsin Health & Educational Facs Authority, Health Facilities Revenue Bonds, UnityPoint Health Project, Series 2014A | 5.000 | 12/01/27 | 4124164 |
| 7765000 |  | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Advocate Aurora Health Credit Group, Series 2018 B-1, (Mandatory Put 7/01/27) | 5.000 | 08/15/54 | 7943606 |
| 2610000 |  | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Marshfield Clinic Health System, Inc., Series 2017C | 5.000 | 02/15/47 | 2493056 |
| 3230000 |  | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, PHW Muskego, Inc. Project, Series 2021 | 4.000 | 10/01/41 | 2695432 |
| 5000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Advocate Aurora Health Credit Group, Series 2018C-1, (Mandatory Put 7/29/26) | 5.000 | 08/15/54 | 5107 |
| 2120000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Gundersen Health System, Refunding Series 2021A | 4.000 | 10/15/34 | 2129880 |
| 1455000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Gundersen Health System, Refunding Series 2021A | 4.000 | 10/15/35 | 1454081 |
| 5490000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Marshfield Clinic Health System, Inc., Series 2020B-2, (Mandatory Put 2/15/27) | 5.000 | 02/15/51 | 5590431 |
| 1470000 |  | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Oakwood Lutheran Senior Ministries, Series 2021 | 4.000 | 01/01/37 | 1375743 |

---

106 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **WISCONSIN** (continued) |  |  |  |
| $1950000 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Saint Camillus Health System Inc, Series 2019A | 5.000% | 11/01/39 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1917633 |
| 1355000 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, ThedaCare Inc, Series 2015 | 5.000 | 12/15/25 | 1356306 |
| 4440000 | Wisconsin Housing and Economic Development Authority, Home Ownership Revenue Bonds, Social Series 2024C | 4.125 | 09/01/39 | 4385013 |
| 2750000 | Wisconsin Housing and Economic Development Authority, Housing Revenue Bonds, Series 2019A | 3.000 | 11/01/39 | 2259787 |
| 1650000 | Wisconsin Housing and Economic Development Authority, Housing Revenue Bonds, Series 2021C | 2.500 | 11/01/41 | 1203622 |
| 2555000 | Wisconsin Housing and Economic Development Authority, Housing Revenue Bonds, Series 2023E, (Mandatory Put 5/01/27) | 3.875 | 11/01/54 | 2564141 |
| 4760000 | Wisconsin State, General Obligation Bonds, Refunding Series 2024-1 | 5.000 | 05/01/32 | 5353459 |
| 9800000 | Wisconsin State, General Obligation Bonds, Refunding Series 2025-3 | 5.000 | 05/01/32 | 11021827 |
|  | TOTAL WISCONSIN |  |  | 188531450 |
|  | **WYOMING - 1.1%** |  |  |  |
| 16300000 | Campbell County, Wyoming Solid Waste Facilities Revenue Bonds, Basin Electric Power Cooperative, Dry Fork Station Facilities, Series 2019A | 3.625 | 07/15/39 | 14334049 |
| 960000 | Casper Community College District, Natrona County, Wyoming, Revenue Bonds, Refunding Series 2021 | 4.000 | 04/15/37 | 965349 |
| 1000000 | Casper Community College District, Natrona County, Wyoming, Revenue Bonds, Refunding Series 2021 | 4.000 | 04/15/38 | 1001725 |
| 800000 | Consolidated Wyoming Municipalities Electric Power System Joint Powers Board, Wyoming, Electric Facilities Improvement Lease Revenue Bonds, Gillette Electrical System Project, Refunding Series 2022 | 5.000 | 06/01/33 | 875559 |
| 1415000 | Consolidated Wyoming Municipalities Electric Power System Joint Powers Board, Wyoming, Electric Facilities Improvement Lease Revenue Bonds, Gillette Electrical System Project, Refunding Series 2022 | 5.000 | 06/01/34 | 1538486 |
| 8730000 | Sweetwater County 2023 Specific Purpose Joint Powers Board, Wyoming, Sales and Use Excise Tax Revenue Bonds, Series 2023 | 5.000 | 06/15/27 | 9088657 |
| 28275000 | Sweetwater County, Wyoming, Pollution Control Revenue Refunding Bonds, Idaho Power Company Project, Series 2006 | 1.700 | 07/15/26 | 27451024 |
| 4215000 | University of Wyoming, Facilities Revenue Bonds, Supplemental Coverage Program, Refunding Series 2021A | 5.000 | 06/01/26 | 4317414 |
| 2645000 | Wyoming Community Development Authority, Housing Revenue Bonds, 2015 Series 6 | 3.900 | 12/01/34 | 2622187 |
| 6500000 | Wyoming Community Development Authority, Housing Revenue Bonds, 2019 Series 3 | 2.650 | 12/01/39 | 5104607 |
| 3250000 | Wyoming Community Development Authority, Housing Revenue Bonds, 2020 Series 1 | 3.000 | 12/01/40 | 2677022 |
| 6675000 | Wyoming Community Development Authority, Housing Revenue Bonds, 2020 Series 2 | 2.250 | 12/01/40 | 4839596 |
| 6000000 | Wyoming Community Development Authority, Housing Revenue Bonds, 2021 Series 3 | 2.250 | 12/01/41 | 4233379 |
| 2700000 | Wyoming Community Development Authority, Housing Revenue Bonds, 2023 Series 1 | 4.200 | 12/01/38 | 2661956 |
|  | TOTAL WYOMING |  |  | 81711010 |
|  | **TOTAL MUNICIPAL BONDS**<br> **(Cost $7,786,784,479)** |  |  | **7454547976** |

---

See Notes To Financial Statements 107

------

Portfolio of Investments March 31, 2025 (continued)

Intermediate Duration

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **VARIABLE RATE SENIOR LOAN INTERESTS - 0.0%** |  |  |  |
|  |  | **HEALTH CARE EQUIPMENT & SERVICES - 0.0%** |  |  |  |
| $812771 | (g) | Jackson Hospital | 13.000% | 11/04/25 | $812771 |
| 1128848 | (g) | Jackson Hospital, Inc. and Jackson Hospital Financing, LLC | 13.000 | 12/16/25 | 1128848 |
|  |  | TOTAL HEALTH CARE EQUIPMENT & SERVICES |  |  | 1941619 |
|  |  | **TOTAL VARIABLE RATE SENIOR LOAN INTERESTS**<br> **(Cost $1,903,423)** |  |  | **1941619** |
|  |  | **TOTAL LONG-TERM INVESTMENTS**<br> **(Cost $7,829,866,933)** |  |  | **7494023114** |
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **SHORT-TERM INVESTMENTS - 0.1%** |  |  |  |
|  |  | **MUNICIPAL BONDS - 0.1%** |  |  |  |
|  |  | **NATIONAL - 0.1%** |  |  |  |
| 7350000 | (c),(i) | Invesco Municipal Opportunity Trust Variable Rate Munifund Term Preferred Shares Series 2015/6VMO, (AMT) | 3.950 | 03/20/27 | 7350000 |
|  |  | TOTAL NATIONAL |  |  | 7350000 |
|  |  | **TOTAL MUNICIPAL BONDS**<br> **(Cost $7,350,000)** |  |  | **7350000** |
|  |  | **TOTAL SHORT-TERM INVESTMENTS**<br> **(Cost $7,350,000)** |  |  | **7350000** |
|  |  | **TOTAL INVESTMENTS - 97.9%**<br> **(Cost $7,837,216,933)** |  |  | **7501373114** |
|  |  | **OTHER ASSETS & LIABILITIES, NET - 2.1%** |  |  | **161019760** |
|  |  | **NET ASSETS - 100%** |  |  | $**7662392874** |

---

AMT Alternative Minimum Tax

ETF Exchange-Traded Fund

ETM Escrowed to maturity

(a) Affiliated holding

(b) Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.

(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 reporting period, the aggregate value of these securities is $386,854,938 or 5.2% of Total Investments.

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

(e) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.

(f) When-issued or delayed delivery security.

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

(h) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.

(i) 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.

108 *See Notes To Financial Statements*

------

Portfolio of Investments March 31, 2025

Limited Term

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **PRINCIPAL** |  | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  |  | **LONG-TERM INVESTMENTS - 97.6%** |  |  |  |
|  |  | **MUNICIPAL BONDS - 97.6%** |  |  |  |
|  |  | **ALABAMA - 2.3%** |  |  |  |
| $1000000 |  | Alabama Housing Finance Authority, Collateralized Single Family Mortgage Revenue Bonds, Series 2024C | 4.100% | 10/01/39 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;981367 |
| 7955000 |  | Alabama Public School and College Authority, Capital Improvement Pool Revenue Bonds, Refunding Series 2020A | 5.000 | 11/01/27 | 8392387 |
| 1855000 |  | Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Project 4 Series 2019A-1, (Mandatory Put 12/01/25) | 4.000 | 12/01/49 | 1860892 |
| 7505000 |  | Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Project 7 Series 2021C-1, (Mandatory Put 12/01/26) | 4.000 | 10/01/52 | 7550470 |
| 2410000 |  | Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Project 8 Series 2022A, (Mandatory Put 12/01/29) | 4.000 | 12/01/52 | 2394731 |
| 5000000 |  | Black Belt Energy Gas District, Alabama, Gas Project Revenue Bonds, Prepay BP PLC, Series 2024D | 5.000 | 11/01/28 | 5207852 |
| 2500000 |  | Black Belt Energy Gas District, Alabama, Gas Project Revenue Bonds, Prepay BP PLC, Series 2024D | 5.000 | 11/01/29 | 2621674 |
| 5800000 |  | Black Belt Energy Gas District, Alabama, Gas Project Revenue Bonds, Series 2023C, (Mandatory Put 6/01/32) | 5.500 | 10/01/54 | 6237100 |
| 3665000 |  | Black Belt Energy Gas District, Alabama, Gas Project Revenue Bonds, Series 2024B, (Mandatory Put 9/01/32) | 5.000 | 10/01/55 | 3839326 |
| 980000 | (a),(b) | Central Etowah County Solid Waste Disposal Authority, Alabama, Tax-Exempt Solid Waste Disposal Revenue Bonds Series 2020A, (Pre-refunded 7/01/25), (AMT) | 6.000 | 07/01/45 | 1016249 |
| 8215000 |  | Lower Alabama Gas District, Alabama, Goldman Sachs Gas Project 2 Revenue Bonds, Series 2020A, (Mandatory Put 12/01/25) | 4.000 | 12/01/50 | 8233936 |
| 11755000 |  | Mobile Industrial Development Board, Alabama, Pollution Control Revenue Refunding Bonds, Alabama Power Company Barry Plan, Series 2007A, (Mandatory Put 6/26/25) | 1.000 | 06/01/34 | 11681598 |
| 1000000 |  | Selma Industrial Development Board, Alabama, Gulf Opportunity Zone Revenue Bonds, International Paper Company Project, Refunding Series 2019A, (Mandatory Put 10/01/31) | 3.450 | 11/01/33 | 982966 |
| 7510000 |  | Selma Industrial Development Board, Alabama, Gulf Opportunity Zone Revenue Bonds, International Paper Company Project, Refunding Series 2020A, (Mandatory Put 6/16/25) | 1.375 | 05/01/34 | 7465620 |
| 5000000 |  | Southeast Alabama Gas Supply District, Alabama, Gas Supply Revenue Bonds, Project 1, Refunding Series 2024A, (Mandatory Put 4/01/32) | 5.000 | 08/01/54 | 5296519 |
| 13750000 |  | Southeast Energy Authority, Alabama, A Cooperative District Energy Supply Revenue Bonds Series 2024A | 5.000 | 11/01/35 | 14200865 |
| 9000000 |  | Southeast Energy Authority, Alabama, Commodity Supply Revenue Bonds, Project 2, Series 2021B-1, (Mandatory Put 12/01/31) | 4.000 | 12/01/51 | 8926181 |
| 9950000 |  | Southeast Energy Authority, Alabama, Commodity Supply Revenue Bonds, Project 4, Series 2022B-1, (Mandatory Put 8/01/28) | 5.000 | 05/01/53 | 10284515 |
| 3000000 |  | Southeast Energy Authority, Alabama, Revenue Bonds, Cooperative District Energy Supply Series 2025B, (Mandatory Put 1/01/33) | 5.250 | 03/01/55 | 3150612 |
|  |  | TOTAL ALABAMA |  |  | 110324860 |
|  |  | **ALASKA - 1.4%** |  |  |  |
| 1020000 |  | Alaska Housing Finance Corporation, Collateralized Mortgage Bonds, Veterans Mortgage Program, 2024 First Series | 3.850 | 06/01/34 | 1011544 |
| 1040000 |  | Alaska Housing Finance Corporation, Collateralized Mortgage Bonds, Veterans Mortgage Program, 2024 First Series | 3.850 | 12/01/34 | 1028819 |
| 12345000 |  | Alaska Housing Finance Corporation, Mortgage Revenue Bonds, General Series 2020A-II | 2.000 | 12/01/35 | 9520745 |
| 23000000 |  | Alaska Housing Finance Corporation, Mortgage Revenue Bonds, General Series 2020B-II | 2.000 | 12/01/35 | 17738124 |
| 3560000 |  | Alaska Housing Finance Corporation, Mortgage Revenue Bonds, General Series 2022A-II | 2.150 | 12/01/36 | 2715185 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **109** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ALASKA** (continued) |  |  |  |
| $8110000 | Alaska Housing Finance Corporation, Mortgage Revenue Bonds, Series 2022B-1 | 2.150% | 06/01/36 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6228166 |
| 3565000 | Alaska Industrial Development and Export Authority, Power Revenue Bonds, Snettisham Hydroelectric Project, Refunding Series 2015, (AMT) | 5.000 | 01/01/26 | 3572661 |
| 5145000 | Alaska Industrial Development and Export Authority, Revenue Bonds, Greater Fairbanks Community Hospital Foundation Project, Refunding Series 2019 | 5.000 | 04/01/27 | 5328993 |
| 5575000 | Alaska Industrial Development and Export Authority, Revenue Bonds, Greater Fairbanks Community Hospital Foundation Project, Refunding Series 2019 | 5.000 | 04/01/29 | 5926975 |
| 5515000 | Alaska Municipal Bond Bank, General Obligation Bonds, Three Series 2015 | 5.250 | 10/01/36 | 5520885 |
| 1000000 | Alaska State, General Obligation Bonds, Refunding Series 2024B | 5.000 | 08/01/28 | 1069243 |
| 1675000 | North Slope Borough, Alaska, General Obligation Bonds, General Purpose Series 2023A | 5.000 | 06/30/26 | 1722374 |
| 1525000 | North Slope Borough, Alaska, General Obligation Bonds, General Purpose Series 2024A | 5.000 | 06/30/28 | 1625378 |
| 1000000 | Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Senior Series 2021A Class 1 | 5.000 | 06/01/25 | 1002659 |
| 1775000 | Northern Tobacco Securitization Corporation, Alaska, Tobacco Settlement Asset-Backed Bonds, Senior Series 2021A Class 1 | 5.000 | 06/01/28 | 1850280 |
|  | TOTAL ALASKA |  |  | 65862031 |
|  | **ARIZONA - 1.3%** |  |  |  |
| 5600000 (a) | Arizona State, Certificates of Participation, Refunding Series 2019A, (ETM) | 5.000 | 10/01/26 | 5790535 |
| 5055000 (a) | Arizona State, Certificates of Participation, Refunding Series 2019A, (ETM) | 5.000 | 10/01/27 | 5334738 |
| 6760000 | 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 | 6770235 |
| 1940000 | Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2019, (AMT), (Mandatory Put 6/01/29) | 4.000 | 06/01/49 | 1933158 |
| 11010000 | Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2022-2, (AMT), (Mandatory Put 9/01/27) | 5.000 | 09/01/52 | 11281163 |
| 3600000 | Chandler, Arizona, General Obligation Bonds, Series 2017 | 2.300 | 07/01/28 | 3464143 |
| 4260000 | Coconino County, Arizona, Pollution Control Revenue Bonds, Nevada Power Company Project, Refunding Series 2017B, (AMT), (Mandatory Put 3/31/26) | 4.125 | 09/01/32 | 4262665 |
| 5000000 | Maricopa County Industrial Development Authority, Arizona, Revenue Bonds, Banner Health, Series 2023A-1, (Mandatory Put 5/15/26) | 5.000 | 01/01/53 | 5101719 |
| 4510000 | Maricopa County Pollution Control Corporation, Arizona, Pollution Control Revenue Bonds, Public Service Company of New Mexico Palo Verde Project, Refunding Series 2010A, (Mandatory Put 10/01/26) | 0.875 | 06/01/43 | 4306091 |
| 2150000 | Maricopa County Pollution Control Corporation, Arizona, Pollution Control Revenue Bonds, Public Service Company of New Mexico Palo Verde Project, Refunding Series 2010B, (Mandatory Put 10/01/26) | 0.875 | 06/01/43 | 2052793 |
| 6225000 | Phoenix Civic Improvement Corporation, Arizona, Airport Revenue Bonds, Junior Lien Series 2019B, (AMT) | 5.000 | 07/01/36 | 6423011 |
| 1205000 | Pima County Unified School District 1, Tucson, Arizona, General Obligation Bonds, Project of 2023 School Improvement Series 2024A - AGM Insured | 5.000 | 07/01/26 | 1236904 |
| 3715000 | Yavapai County Industrial Development Authority, Arizona, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2002, (AMT) | 1.300 | 06/01/27 | 3484659 |
|  | TOTAL ARIZONA |  |  | 61441814 |

---

110 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ARKANSAS - 0.4%** |  |  |  |
| $9295000 | Fayetteville, Arkansas, Sales and Use Tax Revenue Bonds, Capital Improvement Series 2022 | 2.875% | 11/01/32 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9130516 |
| 2120000 | Rogers School District 30, Benton County, Arkansas, General Obligation Bonds, Construction Series 2019 | 2.125 | 02/01/31 | 1884117 |
| 2560000 | Rogers School District 30, Benton County, Arkansas, General Obligation Bonds, Refunding Series 2019 | 3.000 | 02/01/27 | 2559971 |
| 15000 | Rogers School District 30, Benton County, Arkansas, General Obligation Bonds, Refunding Series 2019 | 3.000 | 02/01/28 | 15001 |
| 3915000 | Rogers School District 30, Benton County, Arkansas, General Obligation Bonds, Refunding Series 2019 | 3.000 | 02/01/29 | 3908033 |
|  | TOTAL ARKANSAS |  |  | 17497638 |
|  | **CALIFORNIA - 3.9%** |  |  |  |
| 17400000 | Bay Area Toll Authority, California, Revenue Bonds, San Francisco Bay Area Toll Bridge, Term Rate Series 2018A, (Mandatory Put 4/01/26) | 2.625 | 04/01/45 | 17288673 |
| 2500000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023C, (Mandatory Put 10/01/31) | 5.250 | 01/01/54 | 2613579 |
| 3585000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023F, (Mandatory Put 11/01/30) | 5.500 | 10/01/54 | 3862792 |
| 7000000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024D, (Mandatory Put 9/01/32) | 5.000 | 02/01/55 | 7543902 |
| 6240000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024G, (Mandatory Put 8/01/32) | 5.000 | 11/01/55 | 6537826 |
| 2900000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024H, (Mandatory Put 8/01/33) | 5.000 | 01/01/56 | 3147485 |
| 5000000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green SIFMA Index Rate Series 2022A-1, (Mandatory Put 8/01/28) | 4.000 | 05/01/53 | 5019520 |
| 805000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A | 5.000 | 06/01/25 | 806977 |
| 2030000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A | 5.000 | 06/01/27 | 2095868 |
| 2915000 | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Los Angeles County Securitization Corporation, Series 2020A | 5.000 | 06/01/28 | 3046277 |
| 8910000 | California Health Facilities Financing Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2016B-3, (Mandatory Put 10/01/25) | 2.000 | 10/01/36 | 8821198 |
| 3120000 | California Health Facilities Financing Authority, Revenue Bonds, Providence Saint Joseph Health, Term Rate Series 2019C, (Mandatory Put 10/01/25) | 5.000 | 10/01/39 | 3138933 |
| 19790000 | California Municipal Finance Authority, Revenue Bonds, Linxs APM Project, Senior Lien Series 2018A - AGM Insured, (AMT) | 3.000 | 12/31/30 | 18549369 |
| 2000000 | California Municipal Finance Authority, Reveue Bonds, Community Medical Centers, Series 2017A | 5.000 | 02/01/26 | 2021193 |
| 1500000 | California Municipal Finance Authority, Reveue Bonds, Community Medical Centers, Series 2017A | 5.000 | 02/01/27 | 1537191 |
| 9410000 | California Municipal Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2019A, (AMT), (Mandatory Put 10/01/29) | 2.400 | 10/01/44 | 8846842 |
| 1575000 | California Municipal Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2022A, (AMT), (Mandatory Put 10/01/25) | 4.125 | 10/01/41 | 1576266 |
| 6840000 | California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2015A-2, (AMT) | 3.625 | 07/01/27 | 6798632 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **111** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **CALIFORNIA** (continued) |  |  |  |
| $6020000 | California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Series 2015A-1, (AMT) | 3.375% | 07/01/25 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6012944 |
| 6700000 | California Pollution Control Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management, Inc. Project, Refunding Series 2015B-1, (AMT) | 3.000 | 11/01/25 | 6667214 |
| 2000000 | California State, General Obligation Bonds, Various Purpose Series 2024 | 5.000 | 08/01/31 | 2222866 |
| 5600000 | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A | 5.250 | 12/01/29 | 5604236 |
| 1000000 (b) | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A | 5.000 | 12/01/27 | 1016482 |
| 1070000 (b) | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A | 5.000 | 12/01/26 | 1094244 |
| 350000 (b) | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A | 5.000 | 12/01/27 | 362326 |
| 2815000 | Central Valley Energy Authority, California, Commodity Supply Revenue Bonds, Series 2025, (Mandatory Put 8/01/35) | 5.000 | 12/01/55 | 3048857 |
| 8685000 | Federal Home Loan Mortgage Corporation, California, Multifamily Variable Rate Certificates Relating to Municipal Securities Class A Series 2019M-057 | 2.400 | 10/15/29 | 8120233 |
| 6000000 | Los Angeles Community College District, California, General Obligation Bonds, Refunding Series 2024 | 5.000 | 08/01/27 | 6340373 |
| 1000000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding & Subordinate Green Series 2023A, (AMT) | 5.000 | 05/15/25 | 1001949 |
| 1500000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding & Subordinate Green Series 2023A, (AMT) | 5.000 | 05/15/26 | 1527593 |
| 2250000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding & Subordinate Green Series 2023A, (AMT) | 5.000 | 05/15/27 | 2320931 |
| 2000000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding & Subordinate Green Series 2023A, (AMT) | 5.000 | 05/15/28 | 2087848 |
| 2835000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding & Subordinate Green Series 2023A, (AMT) | 5.000 | 05/15/29 | 2986742 |
| 4000000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding Senior Lien Series 2018B, (AMT) | 5.000 | 05/15/26 | 4073581 |
| 4725000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2021D, (AMT) | 5.000 | 05/15/26 | 4811918 |
| 2345000 | Los Angeles Unified School District, Los Angeles County, California, General Obligation Bonds, Refunding Series 2024A | 5.000 | 07/01/26 | 2414396 |
| 2780000 | Sacramento Municipal Utility District, California, Electric Revenue Bonds, Refunding Series 2023D, (Mandatory Put 10/15/30) | 5.000 | 08/15/49 | 3018269 |
| 2000000 | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, International Senior Series 2023B, (AMT) | 5.000 | 07/01/28 | 2094967 |
| 2000000 | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, International Senior Series 2023B, (AMT) | 5.000 | 07/01/29 | 2111835 |
| 4245000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2019A, (AMT) | 5.000 | 05/01/36 | 4382527 |
| 3475000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2019H, (AMT) | 5.000 | 05/01/28 | 3636563 |
| 3000000 | University of California, General Revenue Bonds, Series 2023BM | 5.000 | 05/15/28 | 3212512 |
|  | TOTAL CALIFORNIA |  |  | 183423929 |

---

112 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **COLORADO - 2.2%** |  |  |  |
| $2900000 | Arapahoe County School District 5 Cherry Creek, Colorado, General Obligation Bonds, Series 2012B | 2.500% | 12/15/28 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2728789 |
| 2980000 | Boulder Larimer & Weld Counties School District RE-1J Saint Vrain Valley, Colorado, General Obligation Bonds, Series 2024 | 5.000 | 12/15/29 | 3253352 |
| 1900000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, AdventHealth Obligated Group, Series 2024A, (Mandatory Put 11/15/29) | 5.000 | 11/15/59 | 2038695 |
| 16735000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019B-1, (Mandatory Put 8/01/25) | 5.000 | 08/01/49 | 16764514 |
| 18470000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019B-2, (Mandatory Put 8/01/26) | 5.000 | 08/01/49 | 18752534 |
| 1000000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2022A | 5.000 | 11/01/26 | 1030636 |
| 13000000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Intermountain Healthcare, Series 2022C, (Mandatory Put 8/15/28) | 5.000 | 05/15/62 | 13737021 |
| 11850000 | Colorado Housing and Finance Authority, Multi Family Project Bonds, Class I Series 2025C-2 | 3.350 | 07/01/28 | 11852678 |
| 630000 | Colorado Housing and Finance Authority, Single Family Mortgage Bonds, Class I Series 2021E | 1.950 | 11/01/36 | 467001 |
| 2500000 | Colorado Housing and Finance Authority, Single Family Mortgage Bonds, Class I Series 2021H | 1.800 | 11/01/36 | 1816518 |
| 257000 | Cornerstar Metropolitan District, Arapahoe County, Colorado, General Obligation Bonds, Limited Tax Convertible to Unlimited Tax, Refunding Series 2017A | 4.500 | 12/01/27 | 256989 |
| 4930000 | Dawson Trails Metropolitan District 1, Colorado, In The Town of Castle Rock, Limited Tax General Obligation Capital Appreciation Turbo Bonds, Series 2024 | 0.000 | 12/01/31 | 2872383 |
| 6435000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2022A, (AMT) | 5.000 | 11/15/26 | 6607881 |
| 5600000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2022A, (AMT) | 5.000 | 11/15/27 | 5835644 |
| 4170000 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018A, (AMT) | 5.000 | 12/01/26 | 4276054 |
| 1290000 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2023B, (AMT) | 5.000 | 11/15/26 | 1321983 |
| 738000 | Gardens on Havana Metropolitan District 3, Arapahoe County, Colorado, Special Revenue Bonds, Refunding Series 2017A | 4.625 | 12/01/27 | 738470 |
| 400000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 5.000 | 07/15/25 | 401660 |
| 500000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 3.000 | 01/15/26 | 498264 |
| 425000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 5.000 | 07/15/26 | 433339 |
| 1425000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 5.000 | 01/15/27 | 1463255 |
| 625000 | Regional Transportation District, Colorado, Private Activity Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A | 5.000 | 07/15/27 | 644723 |
| 415000 | Sterling Ranch Community Authority Board, Douglas County, Colorado, Limited Tax Supported District 2, Refunding & Improvement Senior Series 2020A | 3.375 | 12/01/30 | 396543 |
| 805000 | Transport Metropolitan District 3, In the City of Aurora, Adams County, Colorado, General Obligation Limited Bonds, Series 2021A-1 | 4.125 | 12/01/31 | 732126 |
| 6610000 | University of Colorado, Enterprise System Revenue Bonds, Refunding Series 2021C-4, (Mandatory Put 10/15/25) | 2.000 | 06/01/51 | 6554414 |
|  | TOTAL COLORADO |  |  | 105475466 |

---

See Notes To Financial Statements 113

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **CONNECTICUT - 1.3%** |  |  |  |
| $6715000 | Connecticut Health and Educational Facilities Authority, Chefa Revenue Bonds, Yale University, Remarketing Series 2017B-2, (Mandatory Put 7/01/26) | 3.200% | 07/01/37 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6716770 |
| 1250000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2021L-1 | 4.000 | 07/01/25 | 1250451 |
| 7055000 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Series 2024B, (Mandatory Put 7/01/29) | 5.000 | 07/01/49 | 7531730 |
| 1955000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2018D-1 | 3.750 | 11/15/33 | 1951544 |
| 5000000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2019F-1 | 2.600 | 11/15/34 | 4250595 |
| 3525000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2020A-1 | 2.300 | 11/15/35 | 2789559 |
| 4350000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2020C-1 | 1.950 | 11/15/35 | 3350827 |
| 1190000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2020C-2, (AMT) | 2.200 | 11/15/34 | 946519 |
| 4000000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2021A-1 | 1.700 | 05/15/34 | 3123931 |
| 3900000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2021B-1 | 2.000 | 11/15/36 | 2910089 |
| 12115000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2021D-1 | 2.000 | 11/15/36 | 9074428 |
| 2835000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2025B-2, (Mandatory Put 5/15/28) | 3.300 | 05/15/60 | 2828253 |
| 1500000 | Connecticut State, General Obligation Bonds, Series 2022E | 5.000 | 11/15/26 | 1555240 |
| 2750000 | Connecticut State, General Obligation Bonds, Series 2024D | 5.000 | 05/01/27 | 2873042 |
| 3210000 | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Refunding Series 2022B | 5.000 | 07/01/26 | 3301788 |
| 2600000 | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2024B | 5.000 | 07/01/28 | 2773776 |
| 1955000 | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2024B | 5.000 | 07/01/29 | 2117240 |
| 1000000 | West Haven, Connecticut, General Obligation Bonds, Series 2012 - AGM Insured | 5.000 | 08/01/25 | 1001562 |
|  | TOTAL CONNECTICUT |  |  | 60347344 |
|  | **DELAWARE - 1.1%** |  |  |  |
| 27285000 | Delaware Economic Development Authority, Exempt Facility Revenue Bonds, NRG Energy Project, Refunding Series 2020A, (Mandatory Put 10/01/25) | 1.250 | 10/01/45 | 26895627 |
| 9015000 | Delaware Economic Development Authority, Exempt Facility Revenue Bonds, NRG Energy Project, Refunding Series 2020B, (Mandatory Put 10/01/25) | 1.250 | 10/01/40 | 8886351 |
| 14130000 | Delaware Economic Development Authority, Gas Facilities Revenue Bonds, Delmarva Power & Light Company Project, Refunding Series 2020, (Mandatory Put 7/01/25) | 1.050 | 01/01/31 | 14015462 |
| 1650000 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2024D | 4.000 | 07/01/39 | 1603794 |
|  | TOTAL DELAWARE |  |  | 51401234 |
|  | **DISTRICT OF COLUMBIA - 2.3%** |  |  |  |
| 6750000 | District of Columbia, General Obligation Bonds, Refunding Series 2024B | 5.000 | 08/01/31 | 7502173 |
| 10000000 | District of Columbia, General Obligation Bonds, Refunding Series 2024C | 5.000 | 12/01/30 | 11031445 |
| 25050000 | District of Columbia, Income Tax Secured Revenue Bonds, Refunding Series 2019C | 5.000 | 10/01/25 | 25330049 |
| 3700000 | District of Columbia, Income Tax Secured Revenue Bonds, Refunding Series 2023C | 5.000 | 10/01/32 | 4145802 |
| 3500000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Forward Delivery Refunding Series 2020A, (AMT) | 5.000 | 10/01/32 | 3692206 |

---

114 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **DISTRICT OF COLUMBIA** (continued) |  |  |  |
| $5000000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Forward Delivery Series 2020A, (AMT) | 5.000% | 10/01/31 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5292277 |
| 10525000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2015B, (AMT) | 5.000 | 10/01/31 | 10585840 |
| 5000000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2016A, (AMT) | 5.000 | 10/01/32 | 5076355 |
| 5290000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2017, (AMT) | 5.000 | 10/01/30 | 5449684 |
| 8200000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2021A, (AMT) | 5.000 | 10/01/27 | 8530665 |
| 3000000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2022A, (AMT) | 5.000 | 10/01/28 | 3150895 |
| 6540000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2023A, (AMT) | 5.000 | 10/01/33 | 6962048 |
| 3880000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2024A, (AMT) | 5.000 | 10/01/27 | 4036461 |
| 6205000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2024A, (AMT) | 5.000 | 10/01/28 | 6517102 |
|  | TOTAL DISTRICT OF COLUMBIA |  |  | 107303002 |
|  | **FLORIDA - 3.1%** |  |  |  |
| 4185000 | Broward County, Florida, Airport System Revenue Bonds, Series 2015A, (AMT) | 5.000 | 10/01/27 | 4212616 |
| 2000000 | Broward County, Florida, Airport System Revenue Bonds, Series 2017, (AMT) | 5.000 | 10/01/34 | 2047418 |
| 500000 (b) | Florida Development Finance Corporation, Florida, Solid Waste Disposal Revenue Bonds, GFL Solid Waste Southeast LLC Project Series 2024A, (AMT), (Mandatory Put 10/01/31) | 4.375 | 10/01/54 | 500637 |
| 2435000 (b) | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT), (Mandatory Put 7/15/28) | 12.000 | 07/15/32 | 2583399 |
| 5055000 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT) | 5.000 | 07/01/34 | 5180181 |
| 4765000 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT) | 5.000 | 07/01/35 | 4844484 |
| 19415000 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT) | 5.000 | 07/01/36 | 19656348 |
| 10215000 | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Brightline Trains Florida LLC Issue, Series 2024, (AMT) | 5.000 | 07/01/37 | 10248321 |
| 17700000 (b) | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Series 2025A, (AMT), (Mandatory Put 8/13/25) | 8.250 | 07/01/57 | 18381323 |
| 1595000 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2018-2 | 3.750 | 07/01/33 | 1584325 |
| 6925000 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2019-1 | 2.800 | 07/01/34 | 6074910 |
| 1575000 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Series 2024-5 | 3.950 | 07/01/39 | 1510430 |
| 2310000 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Social Series 2021-1 | 1.800 | 07/01/36 | 1701022 |
| 2825000 | Florida Housing Finance Corporation, Homeowner Mortgage Revenue Bonds, Social Series 2021-2 | 1.800 | 07/01/36 | 2044077 |
| 22060000 | Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Bonds, Series 2019A, (AMT) | 5.000 | 10/01/27 | 22949569 |
| 2610000 | Hillsborough County Aviation Authority, Florida, Revenue Bonds, Tampa International Airport, Alternative Minimum Tax Refunding Subordinate Lien Series 2022A, (AMT) | 5.000 | 10/01/26 | 2682877 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **115** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **FLORIDA** (continued) |  |  |  |
| $9030000 | Lee County, Florida, Airport Revenue Bonds, Refunding Series 2021A, (AMT) | 5.000% | 10/01/30 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9584322 |
| 2425000 | Manatee County School District, Florida, Sales Tax Revenue Bonds, Series 2017 - AGM Insured | 5.000 | 10/01/26 | 2503889 |
| 2200000 | Manatee County School District, Florida, Sales Tax Revenue Bonds, Series 2017 - AGM Insured | 5.000 | 10/01/27 | 2283659 |
| 3120000 | Manatee County School District, Florida, Sales Tax Revenue Bonds, Series 2017 - AGM Insured | 5.000 | 10/01/28 | 3228167 |
| 2715000 | Manatee County School District, Florida, Sales Tax Revenue Bonds, Series 2017 - AGM Insured | 5.000 | 10/01/29 | 2800929 |
| 4100000 | Miami-Dade County, Florida, Aviation Revenue Bonds, Refunding Series 2024A, (AMT) | 5.000 | 10/01/28 | 4295197 |
| 2240000 | Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th Cent Contract Payments, Refunding Senior Series 2017A - AGM Insured | 5.000 | 11/01/29 | 2340446 |
| 9215000 | Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th Cent Contract Payments, Refunding Senior Series 2017A - AGM Insured | 5.000 | 11/01/30 | 9605529 |
| 5500000 | South Miami Health Facilities Authority, Florida, Hospital Revenue Bonds, Baptist Health Systems of South Florida Obligated Group, Refunding Series 2017 | 5.000 | 08/15/25 | 5533719 |
|  | TOTAL FLORIDA |  |  | 148377794 |
|  | **GEORGIA - 1.8%** |  |  |  |
| 2000000 | Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2023G, (AMT) | 5.000 | 07/01/26 | 2044765 |
| 1250000 | Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2023G, (AMT) | 5.000 | 07/01/27 | 1295691 |
| 2625000 | Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2023G, (AMT) | 5.000 | 07/01/28 | 2754592 |
| 5000000 | Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2023G, (AMT) | 5.000 | 07/01/29 | 5291726 |
| 2925000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2020A | 2.750 | 12/01/35 | 2479661 |
| 2750000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2021A | 2.250 | 12/01/36 | 2142973 |
| 1900000 | Georgia Housing and Finance Authority, Single Family Mortgage Bonds, Series 2024A | 4.100 | 12/01/39 | 1861839 |
| 5065000 | Georgia State, General Obligation Bonds, Series 2017A | 5.000 | 02/01/29 | 5259026 |
| 5085000 | Georgia State, General Obligation Bonds, Series 2017A | 5.000 | 02/01/31 | 5262346 |
| 10060000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2022A, (Mandatory Put 12/01/29) | 4.000 | 09/01/52 | 10102265 |
| 6500000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2022B, (Mandatory Put 6/01/29) | 5.000 | 12/01/52 | 6753610 |
| 15800000 (b) | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2022C, (Mandatory Put 11/01/27) | 4.000 | 08/01/52 | 15772830 |
| 8150000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2023B, (Mandatory Put 3/01/30) | 5.000 | 07/01/53 | 8561214 |
| 3500000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2023E-1, (Mandatory Put 6/01/31) | 5.000 | 12/01/53 | 3705237 |
| 3800000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2024D, (Mandatory Put 4/01/31) | 5.000 | 04/01/54 | 4028875 |
| 7800000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2025A, (Mandatory Put 6/01/32) | 5.000 | 06/01/55 | 8327767 |
| 1035000 | Monroe County Development Authority, Georgia, Pollution Control Revenue Bonds, Georgia Power Company - Scherer Plant, Series 2009-2, (Mandatory Put 3/06/26) | 3.875 | 10/01/48 | 1041919 |
|  | TOTAL GEORGIA |  |  | 86686336 |

---

116 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **HAWAII - 0.4%** |  |  |  |
| $5250000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric Company, Inc. and Subsidiary Projects, Refunding Series 2019 | 3.200% | 07/01/39 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4367708 |
| 10870000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaiian Electric Company, Inc. and Subsidiary Projects, Series 2017A, (AMT) | 3.100 | 05/01/26 | 10640404 |
| 5970000 | Honolulu City and County, Hawaii, General Obligation Bonds, Refunding Series 2017D | 5.000 | 09/01/30 | 6245902 |
|  | TOTAL HAWAII |  |  | 21254014 |
|  | **IDAHO - 0.6%** |  |  |  |
| 6020000 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2018A | 5.000 | 03/01/26 | 6130632 |
| 4815000 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2018A | 5.000 | 03/01/29 | 5089466 |
| 4880000 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2018A | 5.000 | 03/01/31 | 5128845 |
| 4835000 | Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's Health System Project, Series 2025B, (Mandatory Put 3/01/32) | 5.000 | 03/01/60 | 5235043 |
| 6000000 | Idaho State Building Authority, Sales Tax Revenue Education Bonds, School Modernization Facilities Series 2024A | 5.000 | 06/01/28 | 6399988 |
|  | TOTAL IDAHO |  |  | 27983974 |
|  | **ILLINOIS - 5.4%** |  |  |  |
| 1515000 | Adams County School District 172, Quincy, Illinois, General Obligation Bonds, Series 2016 - AGM Insured | 5.000 | 02/01/27 | 1538590 |
| 550000 | Chanpaign County Community Unit School District 4, Illinois, General Obligation Bonds, School Building Series 2020A | 0.000 | 01/01/26 | 535002 |
| 780000 | Chanpaign County Community Unit School District 4, Illinois, General Obligation Bonds, School Building Series 2020A | 0.000 | 01/01/27 | 730197 |
| 585000 | Chanpaign County Community Unit School District 4, Illinois, General Obligation Bonds, School Building Series 2020A | 0.000 | 01/01/28 | 526281 |
| 19250000 (b) | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017B | 6.750 | 12/01/30 | 20546857 |
| 3300000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2017G | 5.000 | 12/01/34 | 3277842 |
| 1455000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2019A | 0.000 | 12/01/26 | 1361963 |
| 5975000 | Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Refunding Senior Lien Series 2022C | 5.000 | 01/01/26 | 6060438 |
| 2510000 | Chicago, Illinois, General Obligation Bonds, Chicago Works Series 2023A | 5.000 | 01/01/34 | 2637084 |
| 1970000 (a) | Chicago, Illinois, General Obligation Bonds, Refunding Series 2016C, (ETM) | 5.000 | 01/01/26 | 2001113 |
| 1185000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2023A - BAM Insured | 5.000 | 01/01/27 | 1215749 |
| 3250000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2023A - BAM Insured | 5.000 | 01/01/28 | 3374540 |
| 20000 (a) | DuPage County School District 58 Downers Grove, Illinois, General Obligation Bonds, Limited Tax Capital Appreciation School Series 2018, (ETM) | 0.000 | 12/15/26 | 19021 |
| 980000 | DuPage County School District 58 Downers Grove, Illinois, General Obligation Bonds, Limited Tax Capital Appreciation School Series 2018 | 0.000 | 12/15/26 | 919198 |
| 1050000 | DuPage County School District 58 Downers Grove, Illinois, General Obligation Bonds, Limited Tax Capital Appreciation School Series 2018 | 0.000 | 12/15/27 | 947176 |
| 8130000 | Grundy, Kendall, and Will Counties Community Consolidated School District 201, Minooka, Illinois, General Obligation Bonds, Refunding School Series 2019 | 3.000 | 10/15/27 | 8137337 |
| 20800000 | Illinois Development Finance Authority, Revenue Bonds, St Vincent de Paul Center Project, Series 2000A, (Mandatory Put 3/03/26) | 2.450 | 11/15/39 | 20633078 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **117** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ILLINOIS** (continued) |  |  |  |
| $11300000 | Illinois Finance Authority, Midwestern Disaster Area Industrial Development Revenue Bonds, Cargill, Incorporated Project, Series 2012, (Mandatory Put 11/01/26) | 1.250% | 11/01/38 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10838960 |
| 2180000 | Illinois Finance Authority, Revenue Bonds, Advocate Health Care Network, Series 2008A-1 | 4.000 | 11/01/30 | 2207962 |
| 2000000 (a) | Illinois Finance Authority, Revenue Bonds, Swedish Covenant Hospital, Series 2016A, (ETM) | 5.000 | 08/15/25 | 2014154 |
| 3000000 (a) | Illinois Finance Authority, Revenue Bonds, Swedish Covenant Hospital, Series 2016A, (ETM) | 5.000 | 08/15/26 | 3080889 |
| 1025000 | Illinois Finance Authority, Revenue Bonds, University of Chicago Medicine, Series 2022A, (Mandatory Put 8/15/27) | 5.000 | 08/15/52 | 1062637 |
| 7125000 | Illinois Finance Authority, Revenue Bonds, University of Chicago Medicine, Series 2022B-1, (Mandatory Put 8/15/25) | 5.000 | 08/15/52 | 7137910 |
| 8680000 (b) | Illinois Finance Authority, Surface Freight Transfer Facilities Revenue Bonds, CenterPointJoliet Terminal Railroad Project, Series 2020, (AMT), (Mandatory Put 12/31/34) | 4.125 | 12/01/50 | 8538717 |
| 2000000 | Illinois Finance Authority, Water Facilities Revenue Bonds, American Water Capital Corporation Project, Refunding Series 2020, (Mandatory Put 9/01/28) | 3.875 | 05/01/40 | 1970799 |
| 10135000 | Illinois Housing Development Authority, Revenue Bonds, Green Series 2021B | 1.950 | 10/01/36 | 7532361 |
| 5475000 | Illinois State, General Obligation Bonds, June Series 2016 | 5.000 | 06/01/28 | 5571450 |
| 1455000 | Illinois State, General Obligation Bonds, May Refunding Series 2023D | 5.000 | 07/01/25 | 1461828 |
| 250000 | Illinois State, General Obligation Bonds, November Series 2017C | 5.000 | 11/01/29 | 259244 |
| 6465000 | Illinois State, General Obligation Bonds, November Series 2017D | 3.250 | 11/01/26 | 6459660 |
| 6400000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/26 | 6582028 |
| 14200000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/27 | 14806611 |
| 5160000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/28 | 5362689 |
| 5000000 | Illinois State, General Obligation Bonds, November Series 2019B | 5.000 | 11/01/30 | 5299778 |
| 10660000 | Illinois State, General Obligation Bonds, October Series 2016 | 5.000 | 02/01/28 | 10976851 |
| 5000000 | Illinois State, General Obligation Bonds, Refunding October Series 2024 | 5.000 | 02/01/26 | 5077762 |
| 2540000 | Illinois State, General Obligation Bonds, Refunding October Series 2024 | 5.000 | 02/01/27 | 2621129 |
| 11000000 | Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding Junior Obligation March Series 2025A | 5.000 | 06/15/28 | 11597905 |
| 5000000 | Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding Junior Obligation March Series 2025A | 5.000 | 06/15/29 | 5336143 |
| 1140000 | Illinois Toll Highway Authority, Toll Highway Revenue Bonds, Refunding Senior Lien Series 2016A | 5.000 | 12/01/32 | 1152426 |
| 2945000 | Illinois, General Obligation Bonds, Illinois FIRST Program, Series 2001 - FGIC Insured | 6.000 | 11/01/26 | 3010724 |
| 1235000 | LaSalle and Bureau Counties High School District 120 LaSalle- Peru, Illinois, General Obligation Bonds, School Building Series 2017 - BAM Insured | 5.000 | 12/01/26 | 1269443 |
| 775000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B | 5.000 | 12/15/25 | 784151 |
| 1925000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B | 5.000 | 12/15/26 | 1979873 |
| 360000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B | 5.000 | 12/15/27 | 376057 |
| 1945000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B | 5.000 | 12/15/28 | 2025798 |
| 650000 | Metropolitan Pier and Exposition Authority, Illinois, McCormick Place Expansion Project Bonds, Series 2017B | 5.000 | 12/15/30 | 673756 |
| 1000000 | North Barrington, Lake County, Illinois, Special Tax Bonds, Special Service Area 19, Refunding Series 2019 - BAM Insured | 4.000 | 02/01/33 | 1013387 |
| 1000000 | North Barrington, Lake County, Illinois, Special Tax Bonds, Special Service Area 19, Refunding Series 2019 - BAM Insured | 4.000 | 02/01/36 | 1001454 |
| 1895000 | North Barrington, Lake County, Illinois, Special Tax Bonds, Special Service Area 19, Refunding Series 2019 - BAM Insured | 4.000 | 02/01/40 | 1802896 |

---

118 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **ILLINOIS** (continued) |  |  |  |
| $2010000 | North Barrington, Lake County, Illinois, Special Tax Bonds, Special Service Area 19, Refunding Series 2019 - BAM Insured | 4.000% | 02/01/44 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1864254 |
| 325000 | Northern Illinois University, Auxiliary Facilities System Revenue Bonds, Series 2021 - BAM Insured | 5.000 | 10/01/25 | 327583 |
| 250000 | Northern Illinois University, Auxiliary Facilities System Revenue Bonds, Series 2021 - BAM Insured | 5.000 | 10/01/26 | 255688 |
| 6245000 (a) | Railsplitter Tobacco Settlement Authority, Illinois, Tobacco Settlement Revenue Bonds, Series 2017, (ETM) | 5.000 | 06/01/25 | 6265942 |
| 1258000 | Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 - BAM Insured | 3.450 | 03/01/26 | 1259323 |
| 1218000 | Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 - BAM Insured | 3.600 | 03/01/28 | 1221438 |
| 8240000 | Sales Tax Securitization Corporation, Illinois, Sales Tax Securitization Bonds, Series 2018C | 5.000 | 01/01/28 | 8646244 |
| 2750000 | Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Hospital Sisters Services, Inc. Obligated Group, Series 2017A | 5.000 | 02/15/26 | 2790116 |
| 3665000 | Southwestern Illinois Development Authority, Health Facility Revenue Bonds, Hospital Sisters Services, Inc. Obligated Group, Series 2017A | 5.000 | 02/15/27 | 3777846 |
| 13615000 | Springfield, Illinois, Electric Revenue Bonds, Refunding Senior Lien Series 2024 - BAM Insured | 5.000 | 03/01/29 | 14512429 |
|  | TOTAL ILLINOIS |  |  | 256269761 |
|  | **INDIANA - 3.3%** |  |  |  |
| 14235000 | Indiana Finance Authority, Environmental Facilities Revenue Bonds, Indianapolis Power & Light Company Project, Refunding Series 2020A, (AMT), (Mandatory Put 4/01/26) | 0.950 | 12/01/38 | 13845919 |
| 4500000 | Indiana Finance Authority, Environmental Facilities Revenue Bonds, Indianapolis Power & Light Company Project, Refunding Series 2021B | 0.650 | 08/01/25 | 4448690 |
| 8885000 | Indiana Finance Authority, Environmental Improvement Revenue Bonds, Southern Indiana Gas & Electric Company, Refunding Series 2013A, (AMT), (Mandatory Put 8/01/28) | 4.000 | 03/01/38 | 8925588 |
| 21115000 | Indiana Finance Authority, Environmental Improvement Revenue Bonds, Southern Indiana Gas & Electric Company, Refunding Series 2013A, (AMT), (Mandatory Put 8/01/28) | 4.000 | 05/01/43 | 20998012 |
| 1100000 | Indiana Finance Authority, Environmental Improvement Revenue Bonds, United States Steel Corporation Project, Refunding Series 2021A | 4.125 | 12/01/26 | 1101481 |
| 5750000 | Indiana Finance Authority, Environmental Revenue Bonds, Duke Energy Indiana, Inc. Project, Refunding Series 2009A-1, (AMT), (Mandatory Put 6/01/27) | 3.750 | 03/01/31 | 5762115 |
| 7480000 | Indiana Finance Authority, Environmental Revenue Bonds, Duke Energy Indiana, Inc. Project, Refunding Series 2009A-1, (AMT), (Mandatory Put 6/01/32) | 4.500 | 05/01/35 | 7522527 |
| 7330000 | Indiana Finance Authority, Hospital Revenue Bonds, Indiana University Health Obligation Group, Long Term Rate Series 2023B-1, (Mandatory Put 7/01/28) | 5.000 | 10/01/62 | 7743888 |
| 12660000 | Indiana Finance Authority, Hospital Revenue Bonds, Indiana Unversity Health Obligation Group, Long Term Rate Series 2019B, (Mandatory Put 7/01/25) | 2.250 | 12/01/58 | 12605834 |
| 8075000 | Indiana Finance Authority, Hospital Revenue Bonds, Indiana Unversity Health Obligation Group, Refunding Series 2011M, (Mandatory Put 1/01/26) | 0.700 | 12/01/46 | 7855085 |
| 1525000 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Refunding First Lien Forward Delivery Series 2022A | 5.000 | 10/01/26 | 1573929 |
| 1645000 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Refunding First Lien Forward Delivery Series 2022A | 5.000 | 10/01/27 | 1731953 |
| 1250000 | Indiana Finance Authority, Wastewater Utility Revenue Bonds, CWA Authority Project, Series 2015A | 5.000 | 10/01/26 | 1252119 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **119** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **INDIANA** (continued) |  |  |  |
| $3520000 | Indiana Housing and Community Development Authority, Single Family Mortgage Revenue Bonds, Series 2020B-1 | 1.950% | 07/01/35 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2724004 |
| 1250000 | Indiana Housing and Community Development Authority, Single Family Mortgage Revenue Bonds, Series 2021A | 1.900 | 07/01/36 | 929007 |
| 2610000 | Indiana Housing and Community Development Authority, Single Family Mortgage Revenue Bonds, Social PAC Series 2021B | 1.900 | 07/01/36 | 1939766 |
| 6000000 | Indianapolis Local Public Improvement Bond Bank, Indiana, Airport Authority Project Revenue Bonds, Refunding Series 2019D, (AMT) | 5.000 | 01/01/27 | 6153632 |
| 3150000 | Rockport, Indiana, Pollution Control Revenue Bonds, AEP Generating Company Project, Refunding Series 1995A | 3.125 | 07/01/25 | 3146418 |
| 12000000 | Rockport, Indiana, Pollution Control Revenue Refunding Bonds, Indiana Michigan Power Company Project, Series 2008D | 0.750 | 04/01/25 | 12000000 |
| 13020000 | Rockport, Indiana, Pollution Control Revenue Refunding Bonds, Indiana Michigan Power Company, Series 2002A | 2.750 | 06/01/25 | 13000316 |
| 1000000 | Westfield-Washington Multi-School Building Corporation, Hamilton County, Indiana, First Mortgage Bonds, Series 2024A - BAM Insured | 5.000 | 07/15/29 | 1071489 |
| 1000000 | Westfield-Washington Multi-School Building Corporation, Hamilton County, Indiana, First Mortgage Bonds, Series 2024A - BAM Insured | 5.000 | 07/15/30 | 1083372 |
| 1000000 | Westfield-Washington Multi-School Building Corporation, Hamilton County, Indiana, First Mortgage Bonds, Series 2024A - BAM Insured | 5.000 | 01/15/31 | 1088614 |
| 9805000 | Whiting, Indiana, Environmental Facilities Refunding Revenue Bonds, BP Products North America Inc. Project, Refunding Series 2019A, (AMT), (Mandatory Put 6/05/26) | 5.000 | 12/01/44 | 9931863 |
| 5745000 | Whiting, Indiana, Environmental Facilities Revenue Bonds, BP Products North America Inc. Project, Series 2015, (AMT), (Mandatory Put 6/10/31) | 4.400 | 11/01/45 | 5845557 |
|  | TOTAL INDIANA |  |  | 154281178 |
|  | **IOWA - 0.4%** |  |  |  |
| 5300000 (a) | Iowa Finance Authority, Iowa, Midwestern Disaster Area Revenue Bonds, Iowa Fertilizer Company Project, Refunding Series 2022, (Pre-refunded 12/01/32), (Mandatory Put 12/01/32) | 4.000 | 12/01/50 | 5621630 |
| 3000000 | Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Green Series 2021A | 1.850 | 07/01/35 | 2275658 |
| 2345000 | Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Series 2019D | 2.450 | 07/01/34 | 1991027 |
| 3120000 | Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Series 2020A | 2.500 | 01/01/35 | 2586668 |
| 3000000 | Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Social Series 2021B | 2.000 | 07/01/36 | 2263892 |
| 1955000 | Iowa Finance Authority, Single Family Mortgage Revenue Bonds, Social Series 2021D | 2.000 | 07/01/36 | 1486358 |
| 600000 | Iowa Finance Authority, State Revolving Fund Revenue Bonds, Green Series 2024A | 5.000 | 08/01/34 | 682490 |
|  | TOTAL IOWA |  |  | 16907723 |
|  | **KANSAS - 0.6%** |  |  |  |
| 8515000 | Kansas Department of Transportation, Highway Revenue Bonds, Refunding Series 2024A | 5.000 | 09/01/27 | 8961098 |
| 10360000 | Kansas Development Finance Authority, Hospital Revenue Bonds, Advent Health Obligated Group, Series 2021B, (Mandatory Put 11/15/31) | 5.000 | 11/15/54 | 11354465 |
| 2000000 | Kansas Development Finance Authority, Hospital Revenue Bonds, Advent Health Obligated Group, Series 2021B, (Mandatory Put 11/15/28) | 5.000 | 11/15/54 | 2131881 |
| 4175000 | Manhattan, Kansas, General Obligation Bonds, Temporary Notes, Series 2024-02 - BAM Insured | 5.000 | 06/15/28 | 4257555 |
|  | TOTAL KANSAS |  |  | 26704999 |

---

120 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **KENTUCKY - 3.2%** |  |  |  |
| $8250000 | Boone County, Kentucky, Collateralized Pollution Control Revenue Bonds, Duke Energy Kentucky, Refunding Series 2008A | 3.700% | 08/01/27 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8277015 |
| 6050000 | Carroll County, Kentucky, Environmental Facilities Revenue Bonds, Kentucky Utilities Company Project, Series 2004A, (AMT), (Mandatory Put 9/01/26) | 1.750 | 10/01/34 | 5820095 |
| 30000000 | Carroll County, Kentucky, Pollution Control Revenue Bonds, Kentucky Utilities Company Project, Refunding Series 2016A, (Mandatory Put 9/01/26) | 1.550 | 09/01/42 | 28818216 |
| 4460000 | Kentucky Asset/Liability Commission, General Fund Revenue Project Notes, Federal Highway Trust Fund, First Refunding Series 2024A | 5.000 | 09/01/26 | 4596558 |
| 4200000 | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A | 5.000 | 06/01/25 | 4203241 |
| 6250000 | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 130, Series 2024B | 5.000 | 11/01/25 | 6324752 |
| 4545000 (c) | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 132, Refunding Series 2025B | 5.000 | 04/01/30 | 4948180 |
| 2250000 | Kentucky Turnpike Authority, Economic Development Road Revenue Bonds, Revitalization Projects, Refunding Series 2024A | 5.000 | 07/01/27 | 2356180 |
| 4200000 | Louisville/Jefferson County Metro Government, Kentucky, Health System Revenue Bonds, Norton Healthcare, Inc., Series 2023B, (Mandatory Put 10/01/29) | 5.000 | 10/01/47 | 4466145 |
| 4000000 | Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2001A | 0.900 | 09/01/26 | 3827830 |
| 8000000 | Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2001B, (AMT) | 1.350 | 11/01/27 | 7460658 |
| 18100000 | Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2005A, (Mandatory Put 7/01/26) | 1.750 | 02/01/35 | 17720783 |
| 3785000 | Oldham County School District Finance Corporation, Kentucky, School Building Revenue Bonds, Refunding Second Series 2016 | 4.000 | 09/01/27 | 3865986 |
| 1350000 | Owen County, Kentucky, Water Facilities Revenue Bonds, Kentucky-American Water Company Project, Refunding Series 2020, (Mandatory Put 9/01/28) | 3.875 | 06/01/40 | 1334505 |
| 5605000 | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2024B, (Mandatory Put 8/01/32) | 5.000 | 01/01/55 | 5886941 |
| 1700000 | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2020A, (Mandatory Put 6/01/26) | 4.000 | 12/01/50 | 1707426 |
| 2950000 | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2022A-1, (Mandatory Put 8/01/30) | 4.000 | 08/01/52 | 2941507 |
| 3250000 | Rural Water Financing Agency, Kentucky, Construction Notes, USDA Public Projects Series 2023A | 3.900 | 11/01/25 | 3251733 |
| 3075000 | Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2001A | 0.625 | 09/01/26 | 2931278 |
| 10200000 | Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2001B, (AMT) | 1.350 | 11/01/27 | 9547584 |
| 21345000 | Trimble County, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 2016A, (AMT), (Mandatory Put 9/01/27) | 1.300 | 09/01/44 | 19610200 |
|  | TOTAL KENTUCKY |  |  | 149896813 |
|  | **LOUISIANA - 3.0%** |  |  |  |
| 845000 | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2021D | 2.100 | 12/01/36 | 639539 |
| 1875000 | Louisiana Housing Corporation, Single Family Mortgage Revenue Bonds, Home Ownership Program, Series 2024A | 4.000 | 12/01/39 | 1791619 |
| 3000000 | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Revenue Bonds, Womans Hospital Foundation Project, Refunding Series 2017A | 4.000 | 10/01/25 | 3011314 |
| 17820000 | Louisiana Local Government Environmental Facilities and Community Development Authority, Revenue Bonds, Westlake Chemical Corporation Projects, Refunding Series 2017 | 3.500 | 11/01/32 | 17034911 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **121** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **LOUISIANA** (continued) |  |  |  |
| $10000000 | Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2020B, (Mandatory Put 5/15/25) | 5.000% | 05/15/50 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10008687 |
| 29860000 | Louisiana Public Facilities Authority, Hospital Revenue Bonds, Louisiana Children's Medical Center Hospital, Series 2015A-1. Fixed Rate Mode, (Mandatory Put 6/01/25) | 5.000 | 06/01/45 | 29934898 |
| 4000000 | Louisiana Public Facilities Authority, Hospital Revenue Bonds, Louisiana Children's Medical Center Hospital, Series 2015A-3. Term Rate Mode, (Mandatory Put 6/01/28) | 5.000 | 06/01/45 | 4161769 |
| 1010000 | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015 | 5.000 | 05/15/29 | 1011834 |
| 1000000 | Louisiana Public Facilities Authority, Revenue Bonds, Ochsner Clinic Foundation Project, Series 2015 | 5.000 | 05/15/30 | 1001770 |
| 14000000 | Louisiana State, General Obligation Bonds, Refunding Series 2024E | 5.000 | 09/01/31 | 15574220 |
| 5045000 | Louisiana State, General Obligation Bonds, Series 2024B | 5.000 | 08/01/27 | 5298357 |
| 925000 | New Orleans, Louisiana, Sewerage Service Revenue Bonds, Series 2015 | 5.000 | 06/01/26 | 927797 |
| 2780000 (b) | Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,<br> L.P. Project, Series 2008, (Mandatory Put 6/01/30) | 6.100 | 06/01/38 | 3028461 |
| 3665000 (b) | Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,<br> L.P. Project, Series 2011, (Mandatory Put 6/01/25) | 5.850 | 08/01/41 | 3674771 |
| 16405000 | Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017A-1, (Mandatory Put 7/01/26) | 4.050 | 06/01/37 | 16521984 |
| 17105000 | Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017A-3, (Mandatory Put 7/01/26) | 2.200 | 06/01/37 | 16843429 |
| 10010000 | Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017B-2, (Mandatory Put 7/01/26) | 2.375 | 06/01/37 | 9878158 |
|  | TOTAL LOUISIANA |  |  | 140343518 |
|  | **MAINE - 0.2%** |  |  |  |
| 2955000 | Maine State Housing Authority, Multifamily Mortgage Purchase Bonds, Series 2021A | 1.850 | 11/15/36 | 2142324 |
| 1165000 | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Series 2020D | 2.300 | 11/15/35 | 921939 |
| 3000000 | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Series 2021B | 2.050 | 11/15/36 | 2281869 |
| 2030000 | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Social Series 2021C | 1.900 | 11/15/36 | 1491081 |
| 2000000 | Maine State Housing Authority, Single Family Mortgage Purchase Bonds, Social Series 2021D | 2.200 | 11/15/36 | 1548659 |
|  | TOTAL MAINE |  |  | 8385872 |
|  | **MARYLAND - 1.8%** |  |  |  |
| 7205000 | Anne Arundel County, Maryland, General Obligation Bonds, Consolidated General Improvement, Series 2019 | 5.000 | 10/01/25 | 7286267 |
| 8130000 | Baltimore County, Maryland, General Obligation Bonds, Consolidated Public Improvement Series 2020 | 5.000 | 03/01/27 | 8478454 |
| 6000000 | Baltimore County, Maryland, General Obligation Bonds, Consolidated Public Improvement, Refunding Series 2024A | 5.000 | 07/01/29 | 6520449 |
| 6760000 | Baltimore County, Maryland, General Obligation Bonds, Consolidated Public Improvement, Refunding Series 2024A | 5.000 | 07/01/30 | 7451016 |
| 11510000 | Baltimore County, Maryland, General Obligation Bonds, Consolidated Public Improvement, Series 2024 | 5.000 | 02/01/27 | 11982583 |
| 10000 | Baltimore County, Maryland, Revenue Bonds, Oak Crest Village, Series 2016 | 3.250 | 01/01/31 | 9652 |
| 1000000 | Baltimore, Maryland, Convention Center Hotel Revenue Bonds, Refunding Series 2017 | 5.000 | 09/01/26 | 1010443 |
| 6820000 | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2019C | 2.700 | 09/01/34 | 5893758 |

---

122 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MARYLAND** (continued) |  |  |  |
| $4250000 | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2020A | 2.300% | 09/01/35 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3377113 |
| 4880000 | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2020D | 1.950 | 09/01/35 | 3758674 |
| 12000000 | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2021A | 1.800 | 09/01/36 | 8634738 |
| 8310000 | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2021B | 1.875 | 09/01/36 | 6127608 |
| 12000000 | Maryland Community Development Administration Department of Housing and Community Development, Residential Revenue Bonds, Series 2021C | 2.200 | 09/01/36 | 9345187 |
| 4630000 | Montgomery County, Maryland, General Obligation Bonds, Consolidated Public Improvement Series 2018A | 5.000 | 11/01/29 | 4959971 |
|  | TOTAL MARYLAND |  |  | 84835913 |
|  | **MASSACHUSETTS - 1.3%** |  |  |  |
| 795000 | Massachusetts Development Finance Agency Revenue Bonds, Lawrence General Hospital Issue, Series 2014A | 5.000 | 07/01/25 | 794222 |
| 1500000 | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-1 | 5.000 | 07/01/25 | 1506865 |
| 2780000 | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2 | 5.000 | 07/01/29 | 2922277 |
| 2750000 | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2 | 5.000 | 07/01/30 | 2884851 |
| 2515000 | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2 | 5.000 | 07/01/31 | 2629169 |
| 2100000 | Massachusetts Development Finance Agency, Revenue Bonds, CareGroup Issue, Series 2018J-2 | 5.000 | 07/01/32 | 2188286 |
| 125000 (a) | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, (ETM) | 5.000 | 07/15/25 | 125772 |
| 160000 (a) | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, (ETM) | 5.000 | 07/15/26 | 164571 |
| 170000 (a) | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, (ETM) | 5.000 | 07/15/27 | 178427 |
| 175000 (a) | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, (ETM) | 5.000 | 07/15/28 | 187058 |
| 220000 (a) | Massachusetts Development Finance Agency, Revenue Bonds, Milford Regional Medical Center Issue, Series 2020G, (ETM) | 5.000 | 07/15/30 | 242076 |
| 2230000 | Massachusetts Development Finance Agency, Revenue Bonds, Williams College, Series 2011N, (Mandatory Put 7/01/25) | 0.450 | 07/01/41 | 2209635 |
| 2135000 | Massachusetts Health and Educational Facilities Authority, Variable Rate Demand Revenue Bonds, University of Massachusetts Issue, Series 2000A, (Mandatory Put 4/01/26) | 2.450 | 11/01/30 | 2114797 |
| 1975000 | Massachusetts Housing Finance Agency, Housing Bonds, Series 2019B-1 | 2.750 | 12/01/34 | 1680745 |
| 1000000 | Massachusetts Housing Finance Agency, Housing Bonds, Sustainability Green Series 2022A-2 | 2.650 | 06/01/26 | 990986 |
| 5000000 | Massachusetts Housing Finance Agency, Housing Bonds, Sustainability Green Series 2022C-3 | 4.000 | 06/01/26 | 5009440 |
| 2420000 | Massachusetts Housing Finance Agency, Housing Bonds, Sustainability Green Series 2023A-3 | 3.050 | 12/01/27 | 2402032 |
| 3165000 | Massachusetts Housing Finance Agency, Housing Bonds, Sustainability Series 2021B-2 | 0.800 | 12/01/25 | 3095904 |
| 3500000 | Massachusetts Housing Finance Agency, Multifamily Housing Bonds, Green Series 2023C2 | 4.000 | 12/01/27 | 3512669 |
| 1000000 | Massachusetts Housing Finance Agency, Multifamily Housing Bonds, Green Sustainability Series 2024B3 | 3.500 | 06/01/29 | 995424 |
| 5000000 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Social Series 2020-220 | 1.950 | 12/01/35 | 3828296 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **123** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MASSACHUSETTS** (continued) |  |  |  |
| $1000000 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Social Series 2021-221 | 2.000% | 12/01/36 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;745189 |
| 2725000 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Social Series 2021-222 | 2.000 | 12/01/36 | 2030639 |
| 7385000 | Massachusetts Housing Finance Agency, Single Family Housing Revenue Bonds, Social Series 2021-223 | 2.150 | 12/01/36 | 5632483 |
| 3680000 | Massachusetts State, General Obligation Bonds, Consolidated Series 2024B | 5.000 | 05/01/26 | 3771581 |
| 4525000 | Massachusetts State, General Obligation Bonds, Consolidated Series 2024B | 5.000 | 05/01/27 | 4733079 |
| 4000000 | Quincy, Massachusetts, General Obligation Bonds, Bonds Anticipation Notes Series 2024 | 5.000 | 07/25/25 | 4025556 |
|  | TOTAL MASSACHUSETTS |  |  | 60602029 |
|  | **MICHIGAN - 3.1%** |  |  |  |
| 10015000 | Great Lakes Water Authority, Michigan, Water Supply Revenue Bonds, Senior Lien Series 2024A | 5.000 | 07/01/26 | 10300124 |
| 7510000 | Great Lakes Water Authority, Michigan, Water Supply Revenue Bonds, Senior Lien Series 2024A | 5.000 | 07/01/27 | 7872786 |
| 4050000 | Michigan Finance Authority, Hospital Revenue Bonds, Beaumont- Spectrum Consolidation, Fixed Refunding Series 2022A | 5.000 | 04/15/26 | 4133385 |
| 2600000 | Michigan Finance Authority, Hospital Revenue Bonds, Beaumont- Spectrum Consolidation, Fixed Refunding Series 2022A | 5.000 | 04/15/27 | 2706657 |
| 5090000 | Michigan Finance Authority, Hospital Revenue Bonds, Bronson Healthcare Group, Inc., Series 2019B, (Mandatory Put 11/16/26) | 5.000 | 11/15/44 | 5196967 |
| 4895000 | Michigan Finance Authority, State Aid Revenue Notes, Series 2024A-1 | 5.000 | 07/21/25 | 4923161 |
| 2000000 | Michigan Finance Authority, Tobacco Settlement Asset- Backed Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest Series 2020A-CL-1 | 5.000 | 06/01/27 | 2058689 |
| 5115000 | Michigan Finance Authority, Tobacco Settlement Asset- Backed Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest Series 2020A-CL-1 | 5.000 | 06/01/28 | 5321353 |
| 7115000 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2018A | 3.550 | 10/01/33 | 6842454 |
| 1865000 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2021A | 0.550 | 04/01/25 | 1865000 |
| 2455000 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2022A | 3.300 | 04/01/26 | 2452587 |
| 9430000 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2023A | 3.750 | 04/01/27 | 9411783 |
| 1340000 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2024A | 3.700 | 04/01/30 | 1342751 |
| 1805000 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Fixed Rate Series 2018C | 3.350 | 12/01/34 | 1669084 |
| 5215000 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Series 2016A | 3.100 | 12/01/31 | 4959773 |
| 10020000 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Series 2019B | 2.700 | 12/01/34 | 8614326 |
| 14835000 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Series 2020C | 2.350 | 12/01/35 | 11905905 |
| 6000000 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Social Series 2021A | 1.950 | 12/01/36 | 4436098 |
| 2000000 | Michigan Housing Development Authority, Single Family Mortgage Revenue Bonds, Social Series 2022A | 4.000 | 12/01/37 | 1955785 |
| 5000000 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2015-I | 5.000 | 04/15/30 | 5038979 |
| 5655000 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2024II | 5.000 | 10/15/27 | 5953900 |
| 3040000 | Michigan State, Trunk Line Fund Bonds, Rebuilding Michigan Program, Series 2023 | 5.000 | 11/15/26 | 3149497 |
| 12165000 | Michigan Strategic Fund, Limited Obligation Revenue Bonds, Consumers Energy Company Project, Series 2019, (AMT), (Mandatory Put 10/01/27) | 3.350 | 10/01/49 | 12061966 |

---

124 *See Notes To Financial Statements*

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MICHIGAN** (continued) |  |  |  |
| $7730000 | Michigan Strategic Fund, Limited Obligation Revenue Bonds, Consumers Energy Company Project, Variable Rate Series 2005, (AMT), (Mandatory Put 10/08/26) | 0.875% | 04/01/35 | $7201663 |
| 7230000 | Michigan Strategic Fund, Limited Obligation Revenue Bonds, Detroit Edison Company Exempt Facilities Project, Collateralized Series 2023DT, (AMT), (Mandatory Put 6/03/30) | 3.875 | 06/01/53 | 7223598 |
| 2285000 | Michigan Strategic Fund, Limited Obligation Revenue Bonds, Graphic Packaging International, LLC Coated Recycled Board Machine Project, Green Series 2021, (AMT), (Mandatory Put 10/01/26) | 4.000 | 10/01/61 | 2281211 |
| 7500000 | Wayne County Airport Authority, Michigan, Revenue Bonds, Detroit Metropolitan Wayne County Airport, Series 2023E - AGM Insured, (AMT) | 5.000 | 12/01/28 | 7876984 |
|  | TOTAL MICHIGAN |  |  | 148756466 |
|  | **MINNESOTA - 0.9%** |  |  |  |
| 2740000 | Eastern Carver County Independent School District 112, Minnesota, General Obligation Bonds, Facilities Maintenance Series 2025A | 5.000 | 02/01/29 | 2948393 |
| 5000000 | Minneapolis, Minnesota, Health Care System Revenue Bonds, Allina Health System, Series 2023A, (Mandatory Put 11/15/28) | 5.000 | 11/15/52 | 5259522 |
| 1265000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2020B | 2.400 | 01/01/35 | 1062306 |
| 2275000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2020E | 2.250 | 07/01/35 | 1834574 |
| 4330000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2020I | 1.875 | 07/01/35 | 3277009 |
| 5595000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2021D | 2.000 | 07/01/36 | 4225194 |
| 5045000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2021F | 2.000 | 07/01/36 | 3807112 |
| 8415000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Series 2021H | 2.150 | 07/01/36 | 6494689 |
| 3285000 | Minnesota Housing Finance Agency, Residential Housing Finance Bonds, Social Series 2022A | 2.600 | 07/01/37 | 2647603 |
| 2000000 | Minnesota Municipal Gas Agency, Commodity Supply Revenue Bonds, Series 2022A, (Mandatory Put 12/01/27) | 4.000 | 12/01/52 | 2018586 |
| 6820000 | Minnesota Public Facilities Authority, State Clean Water Revolving Fund Revenue Bonds, Series 2016A | 5.000 | 03/01/31 | 6943459 |
| 2000000 | Minnesota Rural Water Finance Authority, Public Projects Construction Notes, Series 2025 | 3.300 | 08/01/26 | 2002106 |
|  | TOTAL MINNESOTA |  |  | 42520553 |
|  | **MISSISSIPPI - 0.7%** |  |  |  |
| 7660000 | Lowndes County, Mississippi, Solid Waste Disposal and Pollution Control Revenue Bonds, International Paper Company Project, Refunding Series 2022, (Mandatory Put 4/01/27) | 2.650 | 04/01/37 | 7517672 |
| 5865000 | Mississippi Business Finance Corporation, Pollution Control Revenue, Mississippi Power, Series 2002 | 3.200 | 09/01/28 | 5832944 |
| 3500000 | Mississippi Development Bank, Special Obligation Bonds, Mississippi Highway Refunding Project, Refunding Series 2024A | 5.000 | 01/01/30 | 3791068 |
| 6000000 | Mississippi Development Bank, Special Obligation Bonds, Mississippi Highway Refunding Project, Refunding Series 2024A | 5.000 | 01/01/31 | 6558932 |
| 6500000 | Mississippi Development Bank, Special Obligation Bonds, Mississippi Highway Refunding Project, Refunding Series 2024A | 5.000 | 01/01/32 | 7160104 |
| 1230000 | Mississippi Home Corporation, Single Family Mortgage Revenue Bonds, Series 2020A | 2.250 | 12/01/35 | 982818 |
| 615000 | Mississippi Home Corporation, Single Family Mortgage Revenue Bonds, Series 2021A | 1.800 | 12/01/35 | 455092 |
| 1500000 | Mississippi State, Gaming Tax Revenue Bonds, Series 2019A | 5.000 | 10/15/26 | 1544045 |
|  | TOTAL MISSISSIPPI |  |  | 33842675 |

---

See Notes To Financial Statements 125

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MISSOURI - 0.9%** |  |  |  |
| $5330000 | Missouri Environmental Improvement and Energy Resources Authority, Revenue Bonds, Union Electric Company Project, Refunding Series 1998A | 2.900% | 09/01/33 | $4750402 |
| 11000000 | Missouri Environmental Improvement and Energy Resources Authority, Revenue Bonds, Union Electric Company Project, Series 1998B | 2.900 | 09/01/33 | 9803831 |
| 5255000 | Missouri Environmental Improvement and Energy Resources Authority, Revenue Bonds, Union Electric Company Project, Series 1998C | 2.750 | 09/01/33 | 4688851 |
| 12335000 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, BJC Health System, Series 2021B, (Mandatory Put 5/01/26) | 4.000 | 05/01/51 | 12464960 |
| 1195000 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, SSM Health Care, Series 2022A | 5.000 | 06/01/25 | 1198886 |
| 2520000 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, SSM Health Care, Series 2022A | 5.000 | 06/01/27 | 2619150 |
| 2700000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Home Ownership Loan Program Series 2024E | 4.125 | 11/01/39 | 2661466 |
| 740000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Homeownership Loan Program, Series 2019C | 2.500 | 11/01/34 | 627431 |
| 1065000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Homeownership Loan Program, Series 2021A | 1.950 | 11/01/36 | 789454 |
| 1890000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Homeownership Loan Program, Series 2021B | 1.800 | 11/01/36 | 1352401 |
|  | TOTAL MISSOURI |  |  | 40956832 |
|  | **MONTANA - 0.2%** |  |  |  |
| 1115000 | Gallatin County, Montana, General Obligation Bonds, Series 2023 | 5.000 | 07/01/33 | 1251107 |
| 1300000 | Gallatin County, Montana, General Obligation Bonds, Series 2023 | 5.000 | 07/01/35 | 1438186 |
| 1000000 | Lewis and Clark County School District 9 East Helena, Montana, General Obligation Bonds, School Building Series 2018 | 5.000 | 07/01/27 | 1044297 |
| 1055000 | Lewis and Clark County School District 9 East Helena, Montana, General Obligation Bonds, School Building Series 2018 | 5.000 | 07/01/28 | 1118433 |
| 1335000 | Lewis and Clark County School District 9 East Helena, Montana, General Obligation Bonds, School Building Series 2018 | 5.000 | 07/01/29 | 1414738 |
| 2000000 | Montana Board of Housing, Multifamily Housing Revenue Bonds, Aurora Apartments Series 2024, (Mandatory Put 2/01/28) | 3.320 | 07/01/46 | 1998424 |
| 750000 | Montana Board of Housing, Single Family Mortgage Bonds, Series 2021A-1 | 1.850 | 12/01/36 | 539507 |
| 500000 | Montana Board of Housing, Single Family Mortgage Bonds, Series 2021B | 1.850 | 12/01/36 | 365238 |
|  | TOTAL MONTANA |  |  | 9169930 |
|  | **NATIONAL - 0.0%** |  |  |  |
| 2626627 | Freddie Mac Multi-Family ML Certificates, Series ML 05, Series 2019A | 3.400 | 01/25/36 | 2521448 |
|  | TOTAL NATIONAL |  |  | 2521448 |
|  | **NEBRASKA - 0.7%** |  |  |  |
| 8345000 | Central Plains Energy Project, Nebraska, Gas Project 4 Revenue Bonds, Refunding Series 2023A-1, (Mandatory Put 11/01/29) | 5.000 | 05/01/54 | 8710975 |
| 3890000 | Central Plains Energy Project, Nebraska, Gas Supply Revenue Bonds, Refunding Series 2019, (Mandatory Put 8/01/25) | 4.000 | 12/01/49 | 3895879 |
| 1915000 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2019D | 2.600 | 09/01/34 | 1635327 |
| 8895000 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2020A | 2.350 | 09/01/35 | 7116247 |
| 2455000 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2021A | 1.850 | 09/01/35 | 1852957 |

---

126 *See Notes To Financial Statements*

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEBRASKA** (continued) |  |  |  |
| $3555000 | Nebraska Investment Finance Authority, Single Family Housing Revenue Bonds, Series 2021C | 2.100% | 09/01/36 | $2710314 |
| 1630000 | Sarpy County School District 037 Gretna Public Schools, Nebraska, General Obligation Bonds, Series 2022B | 5.000 | 12/15/27 | 1650567 |
| 6450000 | Washington County, Nebraska, Wastewater and Solid Waste Disposal Facilities Revenue Bonds, Cargill Inc. Project, Variable Rate Demand Series 2012, (AMT), (Mandatory Put 9/01/25) | 0.900 | 09/01/30 | 6384602 |
|  | TOTAL NEBRASKA |  |  | 33956868 |
|  | **NEVADA - 0.8%** |  |  |  |
| 6385000 | Clark County, Nevada, Airport Revenue Bonds, Junior Subordinate Lien Notes Series 2021B, (AMT) | 5.000 | 07/01/27 | 6618392 |
| 19325000 | Clark County, Nevada, Airport Revenue Bonds, Refunding Subordinate Lien Series 2019D | 5.000 | 07/01/26 | 19841466 |
| 3500000 | Clark County, Nevada, Pollution Control Revenue Bonds, Nevada Power Company Project, Refunding Series 2017, (Mandatory Put 3/31/26) | 3.750 | 01/01/36 | 3498620 |
| 950000 | Las Vegas Convention and Visitors Authority, Nevada, Revenue Bonds, Refunding Series 2017B | 5.000 | 07/01/25 | 955092 |
| 1970000 | Nevada Housing Division, Single Family Housing Mortgage Revenue Bonds, Refunding Series 2021A | 1.850 | 10/01/33 | 1564059 |
| 1970000 | Nevada Housing Division, Single Family Housing Mortgage Revenue Bonds, Refunding Series 2021A | 2.000 | 10/01/36 | 1475522 |
| 3000000 | Nevada Housing Division, Single Family Housing Mortgage Revenue Bonds, Refunding Series 2021B | 2.200 | 10/01/36 | 2302081 |
|  | TOTAL NEVADA |  |  | 36255232 |
|  | **NEW HAMPSHIRE - 0.7%** |  |  |  |
| 8485000 | National Finance Authority, New Hampshire, Pollution Control Revenue Bonds, New York State Electric & Gas Corporation Project, Refunding Series 2022A, (AMT) | 4.000 | 12/01/28 | 8488828 |
| 11000000 | New Hampshire Business Finance Authority, Pollution Control Revenue Bonds, United Illuminating Company, Refunding Series 2003A | 4.500 | 10/01/33 | 11170358 |
| 5000000 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College, Series 2015A, (Mandatory Put 8/03/27) | 3.300 | 06/01/40 | 5015089 |
| 4500000 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College, Series 2015D, (Mandatory Put 8/03/27) | 3.300 | 06/01/38 | 4513581 |
| 2495000 | New Hampshire Housing Finance Authority, Single Family Mortgage Acquisition Bonds, Social Series 2024C | 4.100 | 07/01/39 | 2452229 |
|  | TOTAL NEW HAMPSHIRE |  |  | 31640085 |
|  | **NEW JERSEY - 3.0%** |  |  |  |
| 3945000 | Bergen County Improvement Authority, New Jersey, County Guaranteed Governmental Pooled Project Notes, Series 2024 | 4.500 | 05/28/25 | 3955020 |
| 1000000 | Delran Township, New Jersey, General Obligation Bonds, Series 2019 | 2.000 | 10/15/27 | 956554 |
| 1000000 | Delran Township, New Jersey, General Obligation Bonds, Series 2019 | 2.000 | 10/15/28 | 932189 |
| 1000000 | Delran Township, New Jersey, General Obligation Bonds, Series 2019 | 2.000 | 10/15/29 | 910494 |
| 2545000 | Essex County Improvement Authority, New Jersey, Lease Revenue Bonds, Essex County Family Court Building House Projects, County Guaranteed Series 2024 | 5.000 | 06/18/25 | 2556100 |
| 3640000 | Gloucester Township, New Jersey, General Obligation Bonds, Series 2019 - BAM Insured | 2.000 | 02/01/26 | 3581810 |
| 3975000 | Gloucester Township, New Jersey, General Obligation Bonds, Series 2019 - BAM Insured | 2.000 | 02/01/27 | 3835192 |
| 400000 | Middlesex County Improvement Authority, New Jersey, County Guaranteed Capital Equipment & Improvement Bonds, Series 2022 | 5.000 | 09/15/25 | 404003 |
| 6180000 | New Jersey Economic Development Authority, Revenue Bonds, Motor Vehicle Surcharge, Refunding Subordinate Series 2017A | 3.375 | 07/01/30 | 5914060 |

---

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| | |
|:---|:---|
| See Notes To Financial Statements | **127** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW JERSEY** (continued) |  |  |  |
| $10545000 | New Jersey Economic Development Authority, Revenue Bonds, Municipal Rehabilitation, Refunding Series 2019A | 5.250% | 04/01/25 | $10545000 |
| 7000000 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Refunding Series 2023RRR | 5.000 | 06/15/26 | 7161480 |
| 3000000 | New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2005N-1 - NPFG Insured | 5.500 | 09/01/27 | 3172700 |
| 6135000 (a) | New Jersey Economic Development Authority, School Facilities Construction Bonds, Series 2018EEE, (Pre-refunded 12/15/28) | 5.000 | 06/15/33 | 6589845 |
| 1115000 | New Jersey Economic Development Authority, Special Facilities Revenue Bonds, Continental Airlines Inc., Series 1999, (AMT) | 5.250 | 09/15/29 | 1116161 |
| 9180000 | New Jersey Economic Development Authority, Water Facilities Revenue Bonds, New Jersey-American Water Company Inc.<br> Project, Refunding Series 2020E, (AMT) | 0.850 | 12/01/25 | 8935091 |
| 2600000 | New Jersey Health Care Facilities Financing Authority, Revenue Bonds, Inspira Health Obligated Group Issue, Refunding Series 2016A | 5.000 | 07/01/29 | 2647348 |
| 3200000 | New Jersey Housing and Mortgage Finance Agency, Multifamily Revenue Bonds, Series 2024B | 3.500 | 05/01/29 | 3188154 |
| 2915000 | New Jersey Housing and Mortgage Finance Agency, Single Family Housing Revenue Bonds, Social Series 2022I | 2.750 | 04/01/25 | 2915000 |
| 5000 | New Jersey State, General Obligation Bonds, Covid-19 Emergency Series 2020A | 5.000 | 06/01/26 | 5130 |
| 7220000 | New Jersey Transportation Trust Fund Authority, Federal Highway Reimbursement Revenue Notes, Series 2018A | 5.000 | 06/15/28 | 7372343 |
| 1645000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2014BB-1 | 5.000 | 06/15/30 | 1740869 |
| 5025000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019A | 5.000 | 12/15/26 | 5185988 |
| 2000000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2019BB | 5.000 | 06/15/32 | 2101555 |
| 5000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2021A | 5.000 | 06/15/26 | 5115 |
| 5045000 | North Brunswick Township, New Jersey, General Obligation Bonds, Series 2024A | 5.000 | 07/08/25 | 5070401 |
| 4000000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 5.000 | 06/01/25 | 4008408 |
| 5125000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 5.000 | 06/01/27 | 5273017 |
| 5490000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 5.000 | 06/01/28 | 5709480 |
| 14205000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 5.000 | 06/01/29 | 14726380 |
| 3580000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 5.000 | 06/01/34 | 3674575 |
| 2385000 | Tobacco Settlement Financing Corporation, New Jersey, Tobacco Settlement Asset-Backed Bonds, Series 2018A | 4.000 | 06/01/37 | 2289223 |
| 6795000 | Toms River Board of Education, Ocean County, New Jersey, General Obligation Bonds, Regional Schools Series 2019 | 2.250 | 07/15/28 | 6489679 |
| 6710000 | Union County, New Jersey, General Obligation Bonds, Series 2018 | 3.000 | 03/01/28 | 6710764 |
|  | TOTAL NEW JERSEY |  |  | 139679128 |
|  | **NEW MEXICO - 1.1%** |  |  |  |
| 13620000 | Farmington, New Mexico, Pollution Control Revenue Bonds, Public Service Company of New Mexico San Juan Project, Refunding Series 2010A, (Mandatory Put 10/01/26) | 0.875 | 06/01/40 | 13006107 |
| 15000000 | New Mexico Finance Authority, New Mexico, Transportation Revenue Bonds, State Transportation Commission, Refunding Senior Lien Series 2024A | 5.000 | 06/15/27 | 15707855 |
| 12010000 | New Mexico Finance Authority, State Transportation Revenue Bonds, State Transportation Commission Refunding Senior Lien, Series 2022A | 5.000 | 06/15/26 | 12327082 |

---

128 *See Notes To Financial Statements*

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

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW MEXICO** (continued) |  |  |  |
| $4595000 | New Mexico Hospital Equipment Loan Council, Hospital Revenue Bonds, Presbyterian Healthcare Services, Series 2019B, (Mandatory Put 8/01/25) | 5.000% | 08/01/49 | $4619609 |
| 1695000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2019D | 2.800 | 07/01/34 | 1486927 |
| 2140000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2021A | 1.950 | 07/01/36 | 1602702 |
| 985000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2021C | 1.875 | 07/01/36 | 721102 |
| 1190000 | New Mexico Mortgage Finance Authority, Single Family Mortgage Program Bonds, Class 1 Series 2024E | 4.125 | 09/01/39 | 1170747 |
| 1760000 | San Juan County, New Mexico, Gross Receipts Tax Revenue Bonds, Refunding Series 2015A | 5.000 | 06/15/26 | 1766392 |
| 326000 (b) | Winrock Town Center Tax Increment Development District 1, Albuquerque, New Mexico, Gross Receipts Tax Increment Bonds, Senior Lien Series 2022 | 3.750 | 05/01/28 | 323154 |
|  | TOTAL NEW MEXICO |  |  | 52731677 |
|  | **NEW YORK - 9.5%** |  |  |  |
| 10000000 | Chautauqua County Capital Resource Corporation, New York, Facilities Revenue Bonds, NRG Energy Project Refunding Series 2020, (Mandatory Put 4/03/28) | 4.250 | 04/01/42 | 10123280 |
| 1725000 | Dormitory Authority of the State of New York, Revenue Bonds, Montefiore Obligated Group, Series 2020A | 5.000 | 09/01/27 | 1784668 |
| 5000000 | Dormitory Authority of the State of New York, Revenue Bonds, Northwell Healthcare Inc, Series 2019B-1, (Mandatory Put 11/01/28) | 1.800 | 05/01/48 | 4690514 |
| 8600000 | Dutchess County Local Development Corporation, New York, Revenue Bonds, Health Quest Systems, Inc. Project, Series 2016B | 5.000 | 07/01/30 | 8721511 |
| 4405000 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Mandatory Tender Series 2020B, (Mandatory Put 9/01/25) | 0.850 | 09/01/50 | 4354241 |
| 11850000 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Notes Series 2021 | 1.000 | 09/01/25 | 11708743 |
| 2500000 | Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2024B, (Mandatory Put 9/01/29) | 3.000 | 09/01/49 | 2428922 |
| 5020000 | Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Climate Bond Certified, Refunding Green Series 2016B-2 | 5.000 | 11/15/32 | 5135091 |
| 5000000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Green Climate Certified Series 2017C-1 | 5.000 | 11/15/26 | 5166388 |
| 2250000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Refunding Green Climate Certified Series 2020E | 5.000 | 11/15/32 | 2425471 |
| 10850000 | Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2015C-1 | 5.250 | 11/15/29 | 10963800 |
| 685000 | Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014B | 5.000 | 07/01/25 | 686261 |
| 1065000 | Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014B | 5.000 | 07/01/26 | 1066636 |
| 1500000 | Nassau County Local Economic Assistance Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014B | 5.000 | 07/01/27 | 1502085 |
| 10020000 | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Green Series 2023A-2, (Mandatory Put 12/30/27) | 3.700 | 05/01/63 | 10045645 |
| 10200000 | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Development Green Bond 2021K-2, (Mandatory Put 1/01/26) | 0.900 | 11/01/60 | 9988433 |
| 3000000 | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Development Series 2024B-2, (Mandatory Put 7/03/28) | 3.700 | 05/01/64 | 3031722 |

---

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| | |
|:---|:---|
| See Notes To Financial Statements | **129** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK** (continued) |  |  |  |
| $5835000 | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Neighborhood Green Series 2020D-1B | 2.000% | 11/01/35 | $4564900 |
| 3170000 | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Neighborhood Series 2019A-3A | 3.450 | 11/01/34 | 3027574 |
| 3010000 | New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds, Sustainable Neighborhood Series 2019G-1B | 2.550 | 11/01/34 | 2581825 |
| 825000 | New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, The Churchill School and Center for Learning Disabilities Inc., Short Term Auction Rate Series 1999 - AGM Insured | 2.250 | 10/01/29 | 750806 |
| 6000000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2016 Series E-1 | 5.000 | 02/01/34 | 6070501 |
| 8845000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2021 Subseries A | 5.000 | 11/01/28 | 9479357 |
| 8000000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2025 Subseries Series A-1 | 5.000 | 11/01/27 | 8437813 |
| 5125000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2024G-1 | 5.000 | 05/01/27 | 5354305 |
| 4665000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2025C-1 | 5.000 | 05/01/29 | 5030674 |
| 1500000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2025D | 5.000 | 05/01/28 | 1595063 |
| 2000000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2025D | 5.000 | 05/01/29 | 2156773 |
| 1500000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2025D | 5.000 | 05/01/30 | 1637099 |
| 5000000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2025F-1 | 5.000 | 11/01/28 | 5358596 |
| 6600000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal Series 2025F-1 | 5.000 | 11/01/29 | 7166685 |
| 2740000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Series 2024D-1 | 5.000 | 11/01/27 | 2889951 |
| 4350000 | New York City, New York, General Obligation Bonds, Fiscal 2017 Series A-1 | 5.000 | 08/01/33 | 4433836 |
| 27510000 | New York City, New York, General Obligation Bonds, Fiscal 2020 Series C-1 | 5.000 | 08/01/27 | 28866070 |
| 3125000 | New York City, New York, General Obligation Bonds, Fiscal 2023 Series 1 | 5.000 | 08/01/26 | 3215179 |
| 4000000 | New York City, New York, General Obligation Bonds, Fiscal 2023 Series D | 5.000 | 08/01/25 | 4029995 |
| 7710000 | New York City, New York, General Obligation Bonds, Fiscal 2025 Series A | 5.000 | 08/01/27 | 8090054 |
| 12500000 | New York City, New York, General Obligation Bonds, Fiscal 2025 Series A | 5.000 | 08/01/28 | 13340875 |
| 5000000 | New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, Rochester Gas and Electric Corporation, Series 2004A, (Mandatory Put 7/01/25) | 2.875 | 05/15/32 | 4996233 |
| 45000000 | New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, Rochester Gas and Electric Corporation, Series 2004B, (AMT), (Mandatory Put 7/01/25) | 3.000 | 05/15/32 | 44979939 |
| 2460000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Sustainability Green Series 2020J | 0.750 | 05/01/25 | 2452436 |
| 8270000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Sustainability Green Series 2020L-2 | 0.750 | 11/01/25 | 8113604 |
| 2290000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Sustainability Green Series 2021J-2, (Mandatory Put 11/01/26) | 1.000 | 11/01/61 | 2189034 |

---

130 *See Notes To Financial Statements*

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK** (continued) |  |  |  |
| $5000000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Climate Bond Certified/Sustainability Green Series 2021J-2, (Mandatory Put 5/01/27) | 1.100% | 11/01/61 | $4747527 |
| 9470000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Green Series 2022A-2, (Mandatory Put 5/01/27) | 2.500 | 11/01/60 | 9269097 |
| 7415000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Refunding Series 2019C | 3.500 | 11/01/34 | 7129542 |
| 4185000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Refunding Series 2020H | 2.100 | 11/01/35 | 3301035 |
| 8000000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Sustainability Green Series 2024C-2, (Mandatory Put 5/01/29) | 3.600 | 11/01/63 | 8023566 |
| 6675000 | New York State Housing Finance Agency, Affordable Housing Revenue Bonds, Sustainability Series 2023C-2, (Mandatory Put 5/01/29) | 3.800 | 11/01/62 | 6681933 |
| 1835000 | New York State Housing Finance Agency, State Personal Income Tax Revenue Bonds, Economic Development and Housing Sustainability Green Series 2024B-2, (Mandatory Put 12/15/29) | 3.350 | 12/15/54 | 1835375 |
| 9775000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 223 | 2.650 | 10/01/34 | 8337986 |
| 2415000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 225 | 2.000 | 10/01/35 | 1871232 |
| 3460000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 227 | 2.100 | 10/01/35 | 2719071 |
| 3555000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 231 | 2.000 | 10/01/33 | 2858695 |
| 9990000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 231 | 2.200 | 10/01/36 | 7762218 |
| 4640000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Social Series 239 | 2.200 | 10/01/36 | 3605274 |
| 16400000 | New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Social Series 242 | 2.950 | 10/01/37 | 14013092 |
| 3490000 | 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 | 3490097 |
| 5000000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Terminal 4 John F Kennedy International Airport Project, Series 2022, (AMT) | 5.000 | 12/01/27 | 5174797 |
| 2000000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Terminal 4 John F Kennedy International Airport Project, Series 2022, (AMT) | 5.000 | 12/01/28 | 2083743 |
| 2000000 | New York Transportation Development Corporation, New York, Special Facility Revenue Bonds, Terminal 4 John F Kennedy International Airport Project, Series 2022, (AMT) | 5.000 | 12/01/29 | 2098431 |
| 3015000 | New York Transportation Development Corporation, Special Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment Project, Series 2020, (AMT) | 4.000 | 10/01/30 | 2991396 |
| 1000000 | Oyster Bay, Nassau County, New York, General Obligation Bonds, Refunding Public Improvement Series 2022 - AGM Insured | 5.000 | 08/01/27 | 1054631 |
| 3105000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Forty Second Series 2023, (AMT) | 5.000 | 12/01/26 | 3188034 |
| 10000000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Forty Second Series 2023, (AMT) | 5.000 | 12/01/27 | 10414236 |
| 4000000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Second Series 2017, (AMT) | 5.000 | 10/15/33 | 4064641 |
| 4000000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Seventh Series 2018, (AMT) | 5.000 | 09/15/25 | 4032396 |
| 520000 | Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014 | 5.000 | 07/01/25 | 520957 |
| 500000 | Suffolk County Economic Development Corporation, New York, Revenue Bonds, Catholic Health Services of Long Island Obligated Group Project, Series 2014 | 5.000 | 07/01/27 | 500695 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **131** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK** (continued) |  |  |  |
| $2370000 | Suffolk Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Senior Series 2021A-2 | 5.000% | 06/01/25 | $2374611 |
| 2220000 | Suffolk Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Senior Series 2021A-2 | 5.000 | 06/01/26 | 2258473 |
| 2200000 | Suffolk Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Senior Series 2021A-2 | 5.000 | 06/01/28 | 2297559 |
| 1245000 | Suffolk Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Bonds, Senior Series 2021A-2 | 5.000 | 06/01/32 | 1322634 |
| 15000000 | Triborough Bridge and Tunnel Authority, New York, General Revenue Bonds, MTA Bridges & Tunnels, Refunding Series 2023A | 5.000 | 11/15/26 | 15554827 |
| 8100000 | Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Bonds, MTA Bridges and Tunnels, Senior Lien Green Climate Bond Certified Series 2022E-1 | 5.000 | 11/15/27 | 8517626 |
| 10000000 | Triborough Bridge and Tunnel Authority, New York, Payroll Mobility Tax Bonds, Senior Lien Refunding Series 2022B | 5.000 | 05/15/26 | 10257502 |
| 1925000 | TSASC Inc., New York, Tobacco Settlement Asset-Backed Bonds, Fiscal 2017 Series A | 5.000 | 06/01/26 | 1961844 |
|  | TOTAL NEW YORK |  |  | 450947361 |
|  | **NORTH CAROLINA - 0.9%** |  |  |  |
| 6685000 | Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, DBA Carolinas HealthCare System, Variable Rate Demand Series 2021B, (Mandatory Put 6/15/27) | 3.250 | 01/15/50 | 6662602 |
| 3800000 | Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, Doing Business as Atrium Health, Variable Rate Series 2018C, (Mandatory Put 10/31/25) | 3.450 | 01/15/48 | 3807278 |
| 5490000 | Charlotte-Mecklenburg Hospital Authority, North Carolina, Health Care Revenue Bonds, Doing Business as Atrium Health, Variable Rate Series 2018E, (Mandatory Put 10/31/25) | 0.800 | 01/15/48 | 5396672 |
| 1625000 | Columbus County Industrial Facilities and Pollution Control Financing Authority, North Carolina, Recovery Zone Facility Bonds, International Paper Company Project, Refunding Series 2020A, (Mandatory Put 6/16/25) | 1.375 | 05/01/34 | 1615397 |
| 4000000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement Series 55C, (Mandatory Put 1/15/26) | 3.200 | 07/01/56 | 3997397 |
| 865000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series 2019-42 | 2.450 | 07/01/34 | 734430 |
| 2785000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series 2020-43 | 2.625 | 01/01/35 | 2365697 |
| 5000000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement, Series 2021-47 | 2.000 | 07/01/36 | 3773154 |
| 1630000 | North Carolina Municipal Power Agency 1, Catawba Electric Revenue Bonds, Refunding Series 2015A | 5.000 | 01/01/28 | 1653150 |
| 10730000 | Raleigh, North Carolina, North Carolina, Limited Obligation Bonds, Series 2024 | 5.000 | 10/01/27 | 11318457 |
|  | TOTAL NORTH CAROLINA |  |  | 41324234 |
|  | **NORTH DAKOTA - 0.8%** |  |  |  |
| 2335000 | Cass County Joint Water Reserve District, North Dakota, Temporary Improvement Special Assessment Bonds, Refunding Series 2024A | 3.450 | 04/01/27 | 2334500 |
| 1655000 | Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2017A | 5.000 | 12/01/25 | 1662098 |
| 2380000 | Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2017A | 5.000 | 12/01/26 | 2428118 |
| 2550000 | Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2021 | 5.000 | 12/01/27 | 2626050 |
| 200000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021 | 3.000 | 05/01/25 | 199673 |
| 225000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021 | 4.000 | 05/01/27 | 223556 |
| 500000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021 | 3.000 | 05/01/28 | 472931 |

---

132 *See Notes To Financial Statements*

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

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NORTH DAKOTA** (continued) |  |  |  |
| $400000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021 | 3.000% | 05/01/29 | $370273 |
| 430000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021 | 3.000 | 05/01/30 | 390309 |
| 355000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2021 | 3.000 | 05/01/32 | 309404 |
| 5330000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2023C | 5.000 | 05/01/32 | 5478159 |
| 670000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2024C | 5.000 | 05/01/29 | 698034 |
| 530000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2024C | 5.000 | 05/01/30 | 555445 |
| 555000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2024C | 5.000 | 05/01/31 | 584210 |
| 580000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2024C | 5.000 | 05/01/32 | 612469 |
| 610000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2024C | 5.000 | 05/01/33 | 645030 |
| 6235000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2019C | 2.800 | 07/01/32 | 5664339 |
| 1640000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2019C | 3.000 | 07/01/34 | 1483802 |
| 2500000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2020A | 2.700 | 07/01/35 | 2121160 |
| 3250000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2020B | 2.100 | 07/01/35 | 2567942 |
| 3600000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Series 2021A | 2.050 | 07/01/36 | 2737274 |
| 2540000 | North Dakota Housing Finance Agency, Home Mortgage Finance Program Bonds, Social Series 2021B | 2.300 | 07/01/36 | 1979635 |
|  | TOTAL NORTH DAKOTA |  |  | 36144411 |
|  | **OHIO - 3.9%** |  |  |  |
| 1500000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/27 | 1542122 |
| 9130000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/28 | 9481700 |
| 14500000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/29 | 15170779 |
| 3435000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/30 | 3620281 |
| 8630000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/31 | 9074013 |
| 4400000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/32 | 4615877 |
| 3110000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/33 | 3255183 |
| 6195000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/34 | 6460684 |
| 6670000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 5.000 | 06/01/35 | 6940287 |
| 1520000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 4.000 | 06/01/37 | 1471560 |

---

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| | |
|:---|:---|
| See Notes To Financial Statements | **133** |

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------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OHIO** (continued) |  |  |  |
| $2275000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 4.000% | 06/01/38 | $2182477 |
| 1015000 | Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien Series 2020A-2 Class 1 | 4.000 | 06/01/39 | 962210 |
| 1000000 | Chillicothe, Ohio, Hospital Facilities Revenue Bonds, Adena Health System Obligated Group Project, Refunding & Improvement Series 2017 | 5.000 | 12/01/25 | 1010999 |
| 6000000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2005B, (AMT) | 3.700 | 07/01/28 | 5989436 |
| 3345000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2005C, (AMT) | 3.700 | 04/01/28 | 3342045 |
| 15750000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2007A, (AMT), (Mandatory Put 10/01/29) | 2.500 | 08/01/40 | 14628356 |
| 10000000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2007B, (AMT), (Mandatory Put 10/01/29) | 2.500 | 11/01/42 | 9287845 |
| 2355000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2014A, (Mandatory Put 10/01/29) | 2.400 | 12/01/38 | 2186888 |
| 11860000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2014B, (AMT), (Mandatory Put 10/01/29) | 2.600 | 06/01/41 | 11063492 |
| 20250000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Dayton Power & Light Company Project, Refunding Collateralized Series 2015A, (AMT), (Mandatory Put 6/01/27) | 4.250 | 11/01/40 | 20430136 |
| 12630000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Dueke Energy Corporation Project, Refunding Series 2022A, (AMT), (Mandatory Put 6/01/27) | 4.250 | 11/01/39 | 12758076 |
| 415000 (b) | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Pratt Paper Ohio, LLC Project, Series 2017, (AMT) | 3.750 | 01/15/28 | 415052 |
| 1330000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2019A | 3.500 | 09/01/34 | 1277490 |
| 2510000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2019B | 2.800 | 09/01/34 | 2194789 |
| 1470000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2020A | 2.500 | 09/01/35 | 1199911 |
| 3685000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2021A | 2.050 | 09/01/36 | 2788158 |
| 2920000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Series 2021C | 2.250 | 09/01/36 | 2290918 |
| 1625000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Social Series 2024A | 3.800 | 09/01/35 | 1593255 |
| 1655000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Social Series 2024A | 3.850 | 03/01/36 | 1605688 |
| 1500000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Social Series 2024A | 3.850 | 09/01/36 | 1444105 |
| 6260000 | Ohio Housing Finance Agency, Residential Mortgage Revenue Bonds, Mortgage-Backed Securities Program, Social Series 2024B | 4.100 | 09/01/39 | 6145845 |
| 1850000 | Ohio State, General Obligation Bonds, Conservation Projects Refunding Series 2022A | 4.000 | 09/01/27 | 1904831 |
| 2505000 | Ohio State, General Obligation Bonds, Infrastructure Improvement Refunding Series 2022B | 4.000 | 03/01/27 | 2564940 |
| 3545000 | Ohio State, General Obligation Bonds, Infrastructure Improvement Refunding Series 2022C | 4.000 | 09/01/27 | 3650068 |

---

134 *See Notes To Financial Statements*

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

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

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OHIO** (continued) |  |  |  |
| $2430000 | Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health System Obligated Group, Series 2019C, (Mandatory Put 5/01/28) | 2.750% | 01/01/52 | $2381446 |
| 5000000 | Ohio Water Development Authority, Water Pollution Control Loan Fund Revenue Bonds, Series 2020A | 5.000 | 12/01/39 | 5292735 |
|  | TOTAL OHIO |  |  | 182223677 |
|  | **OKLAHOMA - 4.4%** |  |  |  |
| 1000000 | Blaine County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Watonga Public Schools Project, Series 2022 | 5.000 | 12/01/31 | 1062610 |
| 1015000 | Blaine County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Watonga Public Schools Project, Series 2022 | 5.000 | 12/01/32 | 1079744 |
| 1270000 | Bryan County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Durant Public Schools Project, Series 2020 | 4.000 | 09/01/25 | 1275253 |
| 1600000 | Bryan County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Durant Public Schools Project, Series 2020 | 2.000 | 09/01/27 | 1532181 |
| 5000000 | Canadian County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Mustang Public Schools Project, Series 2023A | 5.000 | 09/01/31 | 5437623 |
| 5015000 | Canadian County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Yukon Public Schools Project, Series 2023 | 5.000 | 09/01/27 | 5234651 |
| 4400000 | Canadian County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Piedmont Public Schools Project, Series 2024 | 4.000 | 08/15/32 | 4492384 |
| 9095000 | Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Moore Public Schools Project, Series 2021 | 4.000 | 06/01/27 | 9271428 |
| 8005000 | Cleveland County Independent School District 2 Moore, Oklahoma, General Obligation Bonds, Combined Purpose Series 2022 | 2.000 | 03/01/26 | 7908899 |
| 8010000 | Cleveland County Independent School District 2 Moore, Oklahoma, General Obligation Bonds, Combined Purpose Series 2022 | 2.000 | 03/01/27 | 7748083 |
| 7525000 | Cleveland County Independent School District 29 Norman, Oklahoma, General Obligation Bonds, Combined Purpose Series 2022 | 2.000 | 03/01/26 | 7414377 |
| 1000000 | Clinton Public Works Authority, Oklahoma, Educational Facilities, Lease Revenue Bonds, Series 2022 | 5.000 | 10/01/27 | 1035703 |
| 1000000 | Clinton Public Works Authority, Oklahoma, Educational Facilities, Lease Revenue Bonds, Series 2022 | 3.250 | 10/01/28 | 982510 |
| 4405000 | Cushing Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Cushing Public Schools Project, Series 2022 | 5.000 | 09/01/32 | 4786627 |
| 2330000 | Garfield County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Enid Public Schools Project, Series 2016A | 5.000 | 09/01/26 | 2385323 |
| 310000 | Garvin County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Wynnewood Public Schools Project, Series 2018 | 5.000 | 09/01/25 | 312013 |
| 200000 | Garvin County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Wynnewood Public Schools Project, Series 2018 | 5.000 | 09/01/26 | 204553 |
| 450000 | Garvin County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Wynnewood Public Schools Project, Series 2018 | 5.000 | 09/01/27 | 466942 |
| 520000 | Garvin County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Wynnewood Public Schools Project, Series 2018 | 5.000 | 09/01/29 | 544753 |
| 560000 | Garvin County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Wynnewood Public Schools Project, Series 2018 | 5.000 | 09/01/30 | 583871 |
| 1100000 | Garvin County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Wynnewood Public Schools Project, Series 2018 | 5.000 | 09/01/31 | 1142939 |
| 860000 | Garvin County Educational Facilities Authority, Oklahoma, Lease Revenue Bonds, Wynnewood Public Schools Project, Series 2018 | 5.000 | 09/01/32 | 891645 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **135** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OKLAHOMA** (continued) |  |  |  |
| $1305000 | Grady County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Minco Public Schools Project, Series 2018 | 5.000% | 09/01/31 | $1358915 |
| 1000000 | Grady County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Minco Public Schools Project, Series 2018 | 5.000 | 09/01/32 | 1042655 |
| 1305000 | Grady County School Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Minco Public Schools Project, Series 2018 | 5.000 | 09/01/33 | 1358961 |
| 6005000 | Kay County Public Buildings Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Ponca City Public Schools Project, Series 2022 | 5.000 | 09/01/25 | 6041008 |
| 5045000 | Kay County Public Buildings Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Ponca City Public Schools Project, Series 2022 | 5.000 | 09/01/27 | 5232560 |
| 950000 | McClain County Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Blanchard Public Schools Project, Series 2019 | 4.000 | 09/01/25 | 952631 |
| 1455000 | McClain County Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Blanchard Public Schools Project, Series 2019 | 4.000 | 09/01/26 | 1471385 |
| 625000 | McClain County Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Blanchard Public Schools Project, Series 2019 | 4.000 | 09/01/27 | 635744 |
| 720000 | McClain County Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Blanchard Public Schools Project, Series 2019 | 4.000 | 09/01/28 | 734858 |
| 725000 | McClain County Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Blanchard Public Schools Project, Series 2019 | 4.000 | 09/01/29 | 741784 |
| 1100000 | Okarche Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Okarche Public Schools Project, Series 2016 | 5.000 | 09/01/27 | 1131228 |
| 1125000 | Okarche Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Okarche Public Schools Project, Series 2016 | 5.000 | 09/01/28 | 1155201 |
| 5200000 | Oklahoma City, Oklahoma, General Obligation Bonds, Series 2024 | 4.000 | 03/01/27 | 5326387 |
| 1000000 | Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Harrah Public Schools Project, Series 2024 | 5.000 | 09/01/28 | 1054975 |
| 590000 | Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jones Public Schools Project, Series 2020 | 4.000 | 09/01/26 | 595012 |
| 1000000 | Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jones Public Schools Project, Series 2020 | 4.000 | 09/01/27 | 1016957 |
| 1195000 | Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jones Public Schools Project, Series 2020 | 4.000 | 09/01/28 | 1213865 |
| 1000000 | Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jones Public Schools Project, Series 2020 | 4.000 | 09/01/29 | 1017809 |
| 1000000 | Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jones Public Schools Project, Series 2020 | 4.000 | 09/01/30 | 1016129 |
| 1000000 | Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jones Public Schools Project, Series 2020 | 4.000 | 09/01/31 | 1035706 |
| 1000000 | Oklahoma County Finance Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Jones Public Schools Project, Series 2020 | 4.000 | 09/01/32 | 1029455 |

---

136 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OKLAHOMA** (continued) |  |  |  |
| $3650000 | Oklahoma County Independent School District 1 Putnam City, Oklahoma, General Obligation Bonds, Combined Purpose Series 2024 | 3.250% | 04/01/26 | $3655686 |
| 2520000 | Oklahoma County Independent School District 12 Edmond, General Obligation Bonds, Combined Purpose Series 2024 | 4.000 | 03/01/26 | 2545067 |
| 4850000 | Oklahoma County Independent School District 89 Oklahoma City, Oklahoma, General Obligation Bonds, Combined Purpose Series 2024A | 1.250 | 07/01/26 | 4753230 |
| 6850000 | Oklahoma County Independent School District 89, Oklahoma City, Oklahoma, General Obligation Bonds, Combined Purpose Series 2025A | 1.000 | 07/01/27 | 6498320 |
| 5000000 | Oklahoma County, Oklahoma, General Obligation Bonds, Limited Tax Series 2023 | 4.000 | 05/01/25 | 5004318 |
| 1895000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B | 5.000 | 08/15/25 | 1895256 |
| 1900000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B | 5.000 | 08/15/26 | 1927621 |
| 3175000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B | 5.000 | 08/15/27 | 3260340 |
| 1400000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B | 5.000 | 08/15/28 | 1450333 |
| 350000 | Oklahoma Development Finance Authority, Health System Revenue Bonds, OU Medicine Project, Series 2018B | 5.000 | 08/15/29 | 361736 |
| 365000 | Oklahoma Housing Finance Agency, Single Family Mortgage Revenue Bonds, Homeownership Loan Program, Series 2020A | 2.650 | 09/01/35 | 306654 |
| 7500000 | Oklahoma Industries Authority, Educational Facilities Lease Revenue Bonds, Oklahoma City Public Schools Project Series 2024 | 5.000 | 04/01/27 | 7788905 |
| 1600000 | Payne County Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Stillwater Public Schools Project, Series 2024 - BAM Insured | 5.000 | 09/01/25 | 1611921 |
| 2000000 | Payne County Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Stillwater Public Schools Project, Series 2024 - BAM Insured | 5.000 | 09/01/26 | 2051963 |
| 260000 | Pittsburg County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, McAlester Public Schools Project, Series 2021 | 4.000 | 12/01/28 | 264829 |
| 400000 | Pittsburg County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, McAlester Public Schools Project, Series 2021 | 4.000 | 12/01/29 | 408063 |
| 350000 | Pittsburg County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, McAlester Public Schools Project, Series 2021 | 4.000 | 12/01/30 | 357178 |
| 255000 | Pittsburg County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, McAlester Public Schools Project, Series 2021 | 4.000 | 12/01/31 | 260341 |
| 380000 | Pittsburg County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, McAlester Public Schools Project, Series 2021 | 4.000 | 12/01/32 | 390951 |
| 545000 | Pontotoc County Educational Facilities Authority, Oklahoma, Facilities Lease Revenue Bonds, Ada Public Schools Project, Series 2021 | 4.000 | 09/01/26 | 550006 |
| 1290000 | Pontotoc County Educational Facilities Authority, Oklahoma, Facilities Lease Revenue Bonds, Ada Public Schools Project, Series 2021 | 4.000 | 09/01/28 | 1312029 |
| 725000 | Rogers County Industrial Development Authority, Oklahoma, Capital Improvement Revenue Bonds, Refunding Series 2017 | 4.000 | 04/01/25 | 725000 |
| 770000 | Rogers County Industrial Development Authority, Oklahoma, Capital Improvement Revenue Bonds, Refunding Series 2017 | 4.000 | 04/01/26 | 770627 |
| 715000 | Rogers County Industrial Development Authority, Oklahoma, Capital Improvement Revenue Bonds, Refunding Series 2017 | 4.000 | 04/01/27 | 715510 |
| 400000 | Sand Springs Municipal Authority, Oklahoma, Utility System Revenue Bonds, Refunding Series 2020 | 3.000 | 11/01/31 | 382420 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **137** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OKLAHOMA** (continued) |  |  |  |
| $500000 | Sand Springs Municipal Authority, Oklahoma, Utility System Revenue Bonds, Refunding Series 2020 | 3.000% | 11/01/32 | $468280 |
| 530000 | Sand Springs Municipal Authority, Oklahoma, Utility System Revenue Bonds, Refunding Series 2020 | 3.000 | 11/01/33 | 490709 |
| 1990000 | Stephens County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Marlow Public Schools Project, Series 2022 | 5.000 | 09/01/34 | 2124831 |
| 1075000 | Stephens County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Marlow Public Schools Project, Series 2022 | 5.000 | 09/01/35 | 1140745 |
| 1110000 | Texas County Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Guymon Public Schools Project, Series 2018 | 5.000 | 12/01/25 | 1123606 |
| 3625000 | Tulsa County Independent School District 001 Tulsa, Oklahoma, General Obligation Bonds, Combined Purpose Series 2023A | 1.000 | 03/01/26 | 3559153 |
| 8750000 | Tulsa County Independent School District 001 Tulsa, Oklahoma, General Obligation Bonds, Combined Purpose Series 2024A | 0.050 | 04/01/26 | 8474962 |
| 10000000 | Tulsa County Independent School District 4, Tulsa County, Oklahoma, Combined Purpose Bixby Series 2024 | 4.000 | 07/01/26 | 10091267 |
| 10730000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Broken Arrow Public Schools Project, Series 2019A | 5.000 | 09/01/28 | 11441492 |
| 1380000 | Tulsa County Industrial Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Glenpool Public Schools Project, Series 2017A | 5.000 | 09/01/25 | 1390454 |
| 12800000 | Tulsa, Oklahoma, General Obligation Bonds, Series 2021 | 0.500 | 11/01/25 | 12512818 |
| 1450000 | Wagoner County School Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Wagoner Public Schools Project, Series 2019 | 4.000 | 09/01/27 | 1471549 |
| 300000 | Wagoner County School Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Wagoner Public Schools Project, Series 2019 | 4.000 | 09/01/28 | 305317 |
| 710000 | Washington County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Caney Valley Public Schools Project, Series 2021 | 3.000 | 09/01/25 | 709096 |
| 530000 | Washington County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Caney Valley Public Schools Project, Series 2021 | 3.000 | 09/01/27 | 521829 |
| 490000 | Washington County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Caney Valley Public Schools Project, Series 2021 | 3.000 | 09/01/29 | 468086 |
| 1250000 | Washington County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Caney Valley Public Schools Project, Series 2021 | 3.000 | 09/01/31 | 1156793 |
| 1760000 | Weatherford Industrial Trust Educational, Oklahoma, Facilities Lease Revenue Bonds, Weatherford Public Schools Project, Series 2019 | 5.000 | 03/01/27 | 1813777 |
|  | TOTAL OKLAHOMA |  |  | 209470405 |
|  | **OREGON - 0.9%** |  |  |  |
| 1305000 | Benton and Linn Counties District School District 509J Corvallis, Oregon, General Obligation Bonds, Series 2018A | 5.000 | 06/15/25 | 1310859 |
| 1085000 | Benton and Linn Counties District School District 509J Corvallis, Oregon, General Obligation Bonds, Series 2018A | 5.000 | 06/15/26 | 1114037 |
| 1000000 | Benton and Linn Counties District School District 509J Corvallis, Oregon, General Obligation Bonds, Series 2018A | 5.000 | 06/15/27 | 1047848 |
| 2390000 | Clackamas County School District 12, North Clackamas, Oregon, General Obligation Bonds, Series 2017B | 5.000 | 06/15/27 | 2501739 |
| 2105000 | Clackamas County School District 12, North Clackamas, Oregon, General Obligation Bonds, Series 2017B | 5.000 | 06/15/28 | 2199539 |
| 1200000 | Oregon Department of Transportation, Revenue Bonds, Grant Anticipation, Social 2024 | 5.000 | 05/15/27 | 1255384 |
| 11585000 | Oregon Health and Science University, Revenue Bonds, Exchange Series 2021C, (Mandatory Put 2/01/29) | 4.000 | 07/01/42 | 11834646 |

---

138 *See Notes To Financial Statements*

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OREGON** (continued) |  |  |  |
| $7525000 | Oregon Housing and Community Services Department, Single Family Mortgage Program Revenue Bonds, Series 2021A | 2.050% | 07/01/36 | $5721662 |
| 8000000 (b) | Port of Morrow, Morrow County Oregon, Full Faith and Credit Obligations, Series 2024A | 5.150 | 10/01/26 | 8006991 |
| 2500000 | Portland, Oregon, Water System Revenue Bonds, Refunding Second Lien Series 2024A | 5.000 | 05/01/27 | 2614443 |
| 2750000 | Portland, Oregon, Water System Revenue Bonds, Refunding Second Lien Series 2024A | 5.000 | 05/01/28 | 2929309 |
|  | TOTAL OREGON |  |  | 40536457 |
|  | **PENNSYLVANIA - 3.8%** |  |  |  |
| 5410000 | Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Series 2021A, (AMT) | 5.000 | 01/01/26 | 5488570 |
| 2735000 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A | 5.000 | 04/01/25 | 2735000 |
| 2055000 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A | 5.000 | 04/01/26 | 2091109 |
| 4435000 | Allegheny County Hospital Development Authority, Pennsylvania, Revenue Bonds, Allegheny Health Network Obligated Group Issue, Series 2018A | 5.000 | 04/01/27 | 4587499 |
| 1513000 | Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Tower Health Project, Series 2024A-2 | 6.000 | 06/30/34 | 1631592 |
| 19483000 | Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Tower Health Project, Series 2024A-3 | 5.000 | 06/30/39 | 18883060 |
| 10137000 (d) | Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Tower Health Project, Series 2024B-1 | 0.000 | 06/30/44 | 7486538 |
| 3175000 | Berks County Municipal Authority, Pennsylvania, Revenue Bonds, Tower Health Project, Taxable Series 2024A-1 | 8.000 | 06/30/34 | 3250041 |
| 1000000 | Capital Region Water, Pennsylvania, Water Revenue Bonds, Series 2018 | 5.000 | 07/15/25 | 1005457 |
| 3775000 | Clarion County Industrial Development Authority, Pennsylvania, Revenue Bonds, Pennsylvania-American Water Company Project, Refunding Series 2019, (AMT), (Mandatory Put 12/03/29) | 2.450 | 12/01/39 | 3354576 |
| 1525000 | Commonwealth Financing Authority, Pennsylvania, State Appropriation Lease Bonds, Master Settlement, Series 2018 - AGM Insured | 4.000 | 06/01/39 | 1431397 |
| 390000 | Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, Pennsylvania Power and Light Company, Series 2016A | 3.000 | 09/01/29 | 388235 |
| 5210000 | Lehigh County Industrial Development Authority, Pennsylvania, Pollution Control Revenue Bonds, Pennsylvania Power and Light Company, Series 2016B | 2.625 | 02/15/27 | 5155901 |
| 4565000 | Lower Merion School District, Montgomery County, Pennsylvania, General Obligation Bonds, Series 2019 | 4.000 | 11/15/30 | 4679222 |
| 8065000 | Luzerne County Industrial Development Authority, Pennsylvania, Revenue Bonds, Pennsylvania-American Water Company Project, Refunding Series 2019, (AMT), (Mandatory Put 12/03/29) | 2.450 | 12/01/39 | 7175495 |
| 6420000 | Montgomery County Industrial Development Authority, Pennsylvania, Facilities Revenue Bonds, Constellation Energy Generation LLC Project, Refunding Series 2023A, (Mandatory Put 4/03/28) | 4.100 | 04/01/53 | 6557922 |
| 504166 (e) | Northampton County Industrial Development Authority, Pennsylvania, Recovery Revenue Bonds, Northampton Generating Project, Senior Lien Series 2013A0 & AE2 | 2.200 | 06/30/27 | 221833 |
| 277700 (e) | Northampton County Industrial Development Authority, Pennsylvania, Recovery Revenue Bonds, Northampton Generating Project, Senior Lien Taxable Series 2013B, (cash 5.000%, PIK 5.000%) | 0.900 | 06/30/27 | 49986 |
| 15000000 | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Refunding Series 2021B, (AMT), (Mandatory Put 11/02/26) | 1.100 | 06/01/31 | 14301936 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **139** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **PENNSYLVANIA** (continued) |  |  |  |
| $3750000 | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2009, (Mandatory Put 12/01/26) | 0.950% | 12/01/33 | $3579821 |
| 3750000 | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2017A, (AMT), (Mandatory Put 8/01/25) | 4.250 | 08/01/37 | 3749310 |
| 1270000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2017-122 | 3.250 | 10/01/28 | 1266176 |
| 2270000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2017-123B | 3.450 | 10/01/32 | 2252705 |
| 6135000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2017-124B | 3.200 | 10/01/32 | 5854854 |
| 3390000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2017-125A, (AMT) | 3.000 | 04/01/27 | 3329212 |
| 3345000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2017-125A, (AMT) | 3.050 | 10/01/27 | 3274292 |
| 8730000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2017-125A, (AMT) | 3.400 | 10/01/32 | 8157944 |
| 1035000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2019-128A, (AMT) | 3.650 | 10/01/32 | 980365 |
| 2555000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2019-129 | 2.950 | 10/01/34 | 2257968 |
| 7070000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2019-130A | 2.500 | 10/01/34 | 6005773 |
| 4850000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Series 2020-132A | 2.300 | 10/01/35 | 3941361 |
| 10010000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2021-137 | 2.250 | 10/01/36 | 7836012 |
| 3620000 | Pennsylvania Housing Finance Agency, Single Family Mortgage Revenue Bonds, Social Series 2024-145A | 3.950 | 04/01/35 | 3588854 |
| 9000000 | Pennsylvania State, General Obligation Bonds, First Refunding Series 2023 | 5.000 | 09/01/27 | 9467192 |
| 5000000 | Pennsylvania State, General Obligation Bonds, First Series 2024 | 5.000 | 08/15/30 | 5501605 |
| 4420000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Refunding Subordinate Second Series 2016B-2 | 5.000 | 06/01/29 | 4508844 |
| 1000000 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Saint Joseph?s University Project, Refunding Series 2020C. Forward Delivery | 5.000 | 11/01/25 | 1011031 |
| 850000 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Saint Joseph?s University Project, Refunding Series 2020C. Forward Delivery | 5.000 | 11/01/26 | 875641 |
| 1000000 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Saint Joseph?s University Project, Refunding Series 2020C. Forward Delivery | 5.000 | 11/01/27 | 1041522 |
| 1000000 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Saint Joseph?s University Project, Refunding Series 2020C. Forward Delivery | 5.000 | 11/01/28 | 1054612 |
| 1000000 | Philadelphia Authority for Industrial Development, Pennsylvania, Revenue Bonds, Saint Joseph?s University Project, Refunding Series 2020C. Forward Delivery | 5.000 | 11/01/29 | 1065544 |
| 5400000 | Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2020C, (AMT) | 5.000 | 07/01/25 | 5424579 |
| 750000 | Scranton-Lackawanna Health and Welfare Authority, Pennsylvania, University Revenue Bonds, Marywood University, Series 2016 | 3.375 | 06/01/26 | 731263 |
| 2550000 | Washington County Industrial Development Authority, Pennsylvania, College Revenue Bonds, AICUP Financing Program-Washington and Jefferson College Project, Series 2017-PP5 | 5.000 | 11/01/25 | 2567217 |
| 1150000 | Westmoreland County Industrial Development Authority, Pennsylvania, Revenue Bonds, Excela Health Project, Series 2020A | 4.000 | 07/01/25 | 1150127 |

---

140 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **PENNSYLVANIA** (continued) |  |  |  |
| $1200000 | Westmoreland County Industrial Development Authority, Pennsylvania, Revenue Bonds, Excela Health Project, Series 2020A | 5.000% | 07/01/27 | $1230739 |
|  | TOTAL PENNSYLVANIA |  |  | 182179932 |
|  | **PUERTO RICO - 3.6%** |  |  |  |
| 4600000 (b) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Forward Delivery Series 2022A | 5.000 | 07/01/25 | 4616415 |
| 2500000 (b) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Forward Delivery Series 2022A | 5.000 | 07/01/33 | 2595654 |
| 2500000 (b) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2020A | 5.000 | 07/01/25 | 2508921 |
| 3700000 (b) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2020A | 5.000 | 07/01/30 | 3835400 |
| 2500000 (b) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2020A | 5.000 | 07/01/35 | 2568651 |
| 325000 (b) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2021A | 5.000 | 07/01/25 | 326160 |
| 935000 (b) | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2021B | 5.000 | 07/01/33 | 968933 |
| 3880000 (a) | Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Hospital Revenue Bonds, Hospital de la Concepcion, Series 2017A, (Pre- refunded 11/15/26) | 3.550 | 11/15/30 | 3902624 |
| 30711000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/27 | 28175653 |
| 37062000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/29 | 31400120 |
| 30119000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/31 | 23618483 |
| 10664000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/33 | 7660726 |
| 636000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 4.500 | 07/01/34 | 632472 |
| 105000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/46 | 34449 |
| 5927000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2 | 4.329 | 07/01/40 | 5781547 |
| 14633982 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 5.375 | 07/01/25 | 14699684 |
| 17234053 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 5.625 | 07/01/27 | 17849929 |
| 13640000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 5.625 | 07/01/29 | 14619203 |
| 1696601 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 5.750 | 07/01/31 | 1865332 |
| 1496000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 0.000 | 07/01/33 | 1026901 |
| 842000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 4.000 | 07/01/33 | 825154 |
| 634000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 4.000 | 07/01/35 | 606307 |
|  | TOTAL PUERTO RICO |  |  | 170118718 |
|  | **RHODE ISLAND - 0.7%** |  |  |  |
| 310000 | Rhode Island Health and Educational Building Corporation, Public Schools Financing Program Revenue Bonds, City of Providence, Series 2021D - BAM Insured | 5.000 | 05/15/25 | 310739 |
| 3440000 | Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity Bond Program, 2019 Series 70 | 2.800 | 10/01/34 | 3003178 |
| 14005000 | Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity Bond Program, 2021 Series 75A | 2.050 | 10/01/36 | 10570819 |
| 9795000 | Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity Bond Program, 2022 Series 76A | 2.350 | 10/01/36 | 7647970 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **141** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **RHODE ISLAND** (continued) |  |  |  |
| $3070000 | Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity Bonds, Series 73-A | 2.100% | 10/01/35 | $2398388 |
| 5000000 | Rhode Island Housing & Mortgage Finance Corporation, Homeownership Opportunity Bonds, Series 74 | 2.125 | 10/01/36 | 3817330 |
| 1230000 | Rhode Island Housing and Mortgage Finance Corporation, Homeownership Opportunity Bond Program, Series 2020-72A | 2.300 | 10/01/35 | 976466 |
| 3750000 | Rhode Island Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed Bonds, Series 2015B | 4.500 | 06/01/45 | 3750022 |
|  | TOTAL RHODE ISLAND |  |  | 32474912 |
|  | **SOUTH CAROLINA - 0.6%** |  |  |  |
| 455000 | Lexington County Health Services District, Inc., South Carolina, Hospital Revenue Bonds, Refunding Series 2017 | 5.000 | 11/01/26 | 468369 |
| 6000000 | Patriots Energy Group Financing Agency, South Carolina, Gas Supply Revenue Bonds, Series 2023A-1, (Mandatory Put 8/01/31) | 5.250 | 10/01/54 | 6365921 |
| 1140000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2019B | 2.650 | 07/01/34 | 982767 |
| 2830000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2020B | 2.000 | 07/01/35 | 2205387 |
| 6105000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2021A | 1.850 | 07/01/36 | 4507982 |
| 595000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2023A | 4.450 | 07/01/38 | 596230 |
| 2990000 | South Carolina Housing Finance and Development Authority, Mortgage Revenue Bonds, Series 2024B | 4.000 | 07/01/39 | 2872229 |
| 11025000 | South Carolina Jobs-Economic Development Authority, Revenue Bonds, International Paper Company Project, Refunding Environmental Improvement Series 2023A, (AMT), (Mandatory Put 4/01/26) | 4.000 | 04/01/33 | 11059461 |
|  | TOTAL SOUTH CAROLINA |  |  | 29058346 |
|  | **SOUTH DAKOTA - 0.3%** |  |  |  |
| 3060000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2021A | 1.900 | 11/01/36 | 2250493 |
| 5000000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2021B | 1.850 | 11/01/36 | 3606639 |
| 7310000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2022B | 2.300 | 11/01/37 | 5681002 |
| 1165000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2022C | 4.125 | 11/01/37 | 1146721 |
| 2275000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2024C | 4.000 | 11/01/37 | 2222694 |
|  | TOTAL SOUTH DAKOTA |  |  | 14907549 |
|  | **TENNESSEE -0.9%** |  |  |  |
| 3650000 | Hamilton County, Tennessee, General Obligation Bonds, Refunding Series 2024B | 5.000 | 05/01/30 | 4010668 |
| 2335000 | Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, East Tennessee Children's Hospital, Series 2019 | 5.000 | 11/15/32 | 2450602 |
| 2810000 | Knox County Health, Educational and Housing Facility Board, Tennessee, Hospital Revenue Bonds, East Tennessee Children's Hospital, Series 2019 | 5.000 | 11/15/33 | 2935907 |
| 795000 | Metropolitan Nashville Airport Authority, Tennessee, Airport Improvement Revenue Bonds, Series 2022B, (AMT) | 5.000 | 07/01/26 | 812598 |
| 700000 | Metropolitan Nashville Airport Authority, Tennessee, Airport Improvement Revenue Bonds, Series 2022B, (AMT) | 5.000 | 07/01/27 | 725587 |
| 1030000 | Metropolitan Nashville Airport Authority, Tennessee, Airport Improvement Revenue Bonds, Series 2022B, (AMT) | 5.000 | 07/01/28 | 1076971 |
| 10800000 | Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series 2021A, (Mandatory Put 9/01/28) | 4.000 | 12/01/51 | 10847246 |
| 1640000 | Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series 2022A, (Mandatory Put 12/01/30) | 5.500 | 10/01/53 | 1725101 |
| 840000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2015-1C | 3.850 | 07/01/32 | 840024 |

---

142 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TENNESSEE** (continued) |  |  |  |
| $2890000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2019-1 | 3.400% | 07/01/34 | $2743631 |
| 3050000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2019-2 | 2.800 | 07/01/34 | 2675592 |
| 610000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2020-3A | 2.100 | 07/01/35 | 481983 |
| 1835000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2021-1 | 2.050 | 07/01/36 | 1396814 |
| 2285000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2021-2 | 2.000 | 07/01/37 | 1699190 |
| 3345000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2021-3 | 2.050 | 07/01/36 | 2543383 |
| 900000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2022-2 | 4.050 | 07/01/37 | 888850 |
| 1665000 | Tennessee Housing Development Agency, Residential Finance Program Bonds, Series 2024-3C, (Mandatory Put 10/01/25) | 3.500 | 01/01/56 | 1665099 |
| 2130000 | The Tennessee Energy Acquisition Corporation, Gas Project Revenue Bonds, Series 2018, (Mandatory Put 11/01/25) | 4.000 | 11/01/49 | 2134359 |
|  | TOTAL TENNESSEE |  |  | 41653605 |
|  | **TEXAS - 6.8%** |  |  |  |
| 1445000 | Arlington, Texas, Water and Wastewater System Revenue Bonds, Refunding Improvement Series 2024 | 5.000 | 06/01/26 | 1483638 |
| 1660000 | Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Refunding First Tier Series 2017A | 5.000 | 01/01/26 | 1665566 |
| 1290000 | Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Refunding First Tier Series 2017A | 5.000 | 01/01/27 | 1299059 |
| 1920000 | Austin Convention Enterprises Inc., Texas, Convention Center Hotel Revenue Bonds, Refunding First Tier Series 2017A | 5.000 | 01/01/29 | 1924725 |
| 2295000 | Austin, Texas, General Obligation Bonds, Refunding & Public Improvement Series 2023 | 5.000 | 09/01/26 | 2367211 |
| 2280000 | Austin, Texas, General Obligation Bonds, Refunding & Public Improvement Series 2023 | 5.000 | 09/01/27 | 2399449 |
| 1000000 | Austin, Texas, Water and Wastewater System Revenue Bonds, Refunding Forward Delivery Series 2023 | 5.000 | 11/15/26 | 1035373 |
| 12015000 | Board of Regents of the University of Texas System, Revenue Financing System Bonds, Series 2024B | 5.000 | 08/15/29 | 13060604 |
| 7010000 | Board of Regents of the University of Texas System, Revenue Financing System Bonds, Series 2025A | 5.000 | 08/15/28 | 7504742 |
| 10055000 | Central Texas Regional Mobility Authority, Revenue Bonds, Anticipation Notes Subordinate Lien Series 2021C | 5.000 | 01/01/27 | 10192373 |
| 6875000 | Cypress-Fairbanks Independent School District, Harris County, Texas, General Obligation Bonds, Refunding Series 2025 | 5.000 | 02/15/29 | 7404611 |
| 6430000 | Dallas Fort Worth International Airport, Texas, Joint Revenue Bonds Refunding Series 2023C, (AMT) | 5.000 | 11/01/26 | 6615915 |
| 6810000 | Dallas Fort Worth International Airport, Texas, Joint Revenue Bonds Refunding Series 2023C, (AMT) | 5.000 | 11/01/27 | 7092763 |
| 6060000 | Dallas, Texas, General Obligation Bonds, Refunding and Improvement Series 2024B | 5.000 | 02/15/27 | 6311636 |
| 3525000 | Fort Bend County, Texas, General Obligation Bonds, Tax Road Series 2024 | 5.000 | 03/01/28 | 3731670 |
| 9570000 | Grand Prairie Independent School District, Dallas County, Texas, General Obligation Bonds, Refunding Series 2015 | 4.000 | 02/15/32 | 9571813 |
| 5180000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Refunding Series 2020C-3, (Mandatory Put 12/01/26) | 5.000 | 06/01/32 | 5333824 |
| 10085000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Series 2019B-3, (Mandatory Put 12/01/26) | 5.000 | 07/01/49 | 10384482 |
| 3240000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Series 2022B, (Mandatory Put 12/01/28) | 5.000 | 06/01/50 | 3432087 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **143** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TEXAS** (continued) |  |  |  |
| $8275000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Series 2024C, (Mandatory Put 7/01/29) | 5.000% | 07/01/54 | $8836488 |
| 2540000 | Harris County, Texas, Road Revenue Bonds, Refunding, Series 2024A | 5.000 | 09/15/27 | 2672615 |
| 2500000 | Harris County, Texas, Road Revenue Bonds, Refunding, Series 2024A | 5.000 | 09/15/28 | 2674100 |
| 1705000 | Harris County, Texas, Toll Road Revenue Bonds, Refunding First Lien Series 2024A | 5.000 | 08/15/26 | 1756067 |
| 2530000 | Harris County, Texas, Toll Road Revenue Bonds, Refunding First Lien Series 2024A | 5.000 | 08/15/27 | 2657263 |
| 5730000 | Houston, Texas, Airport System Special Facilities Revenue Bonds, United Airlines, Inc. Terminal Improvements Project, Series 2024B, (AMT) | 5.250 | 07/15/33 | 5981901 |
| 3000000 | Houston, Texas, Combined Utility System Revenue Bonds, Combined First Lien Series 2024A | 5.000 | 11/15/26 | 3106603 |
| 2180000 | Houston, Texas, General Obligation Bonds, Public Improvement and Refunding Series 2024B | 5.000 | 03/01/26 | 2224242 |
| 8840000 | Houston, Texas, General Obligation Bonds, Refunding Public Improvement Series 2016A | 5.000 | 03/01/27 | 8998505 |
| 3125000 | Irving Independent School District, Dallas County, Texas, General Obligation Bonds, School Building Series 2023 | 5.000 | 02/15/36 | 3433150 |
| 3285000 | Irving Independent School District, Dallas County, Texas, General Obligation Bonds, School Building Series 2023 | 5.000 | 02/15/37 | 3584682 |
| 5055000 | Irving, Dallas County, Texas, General Obligation Bonds, Series 2024 | 5.000 | 09/15/28 | 5408749 |
| 6055000 | Irving, Dallas County, Texas, General Obligation Bonds, Series 2024 | 5.000 | 09/15/29 | 6568864 |
| 1300000 | Lower Colorado River Authority, Texas, Revenue Bonds, Refunding Series 2023A | 5.000 | 05/15/26 | 1331729 |
| 7250000 | Matagorda County Navigation District 1, Texas, Pollution Control Revenue Bonds, Central Power & Light Company Project, Refunding Series 1996, (AMT) | 4.250 | 05/01/30 | 7430463 |
| 2175000 (b) | Mission Economic Development Corporation, Texas, Revenue Bonds, Natgasoline Project, Senior Lien Series 2018, (AMT) | 4.625 | 10/01/31 | 2168742 |
| 3750000 | Mission Economic Development Corporation, Texas, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2023A, (AMT), (Mandatory Put 7/01/27) | 4.250 | 06/01/48 | 3758426 |
| 3570000 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier Series 2023A | 5.000 | 01/01/27 | 3703317 |
| 3200000 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier, Series 2017A | 5.000 | 01/01/27 | 3248736 |
| 5000000 | Pasadena Independent School District, Harris County, Texas, General Obligation Bonds, School Building Series 2015A | 4.000 | 02/15/32 | 5000947 |
| 8685000 | Plano Independent School District, Collin County, Texas, General Obligation Bonds, School Building Series 2025 | 5.000 | 02/15/28 | 9199284 |
| 7000000 | Red River Education Finance Corporation, Texas, Higher Education Revenue Bonds, Texas Christian University Project, Refunding & Improvement Series 2024 | 5.000 | 03/15/35 | 7893760 |
| 1750000 | San Antonio, Texas, Combination Tax and Revenue Certificates of Obligation, Series 2024 | 5.000 | 02/01/30 | 1908123 |
| 1750000 | San Antonio, Texas, Combination Tax and Revenue Certificates of Obligation, Taxable Series 2024 | 5.000 | 02/01/32 | 1946040 |
| 8955000 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2022E, (Mandatory Put 5/15/26) | 5.000 | 11/15/52 | 9118014 |
| 2475000 | Texas Department of Housing and Community Affairs, Residential Mortgage Revenue Bonds, Series 2019A | 3.500 | 07/01/34 | 2372449 |
| 4830000 | Texas Department of Housing and Community Affairs, Residential Mortgage Revenue Bonds, Series 2024C | 4.100 | 01/01/39 | 4770936 |
| 3405000 | Texas Department of Housing and Community Affairs, Single Family Mortgage Revenue Bonds, Series 2021A | 1.850 | 09/01/36 | 2469601 |
| 5000000 | Texas Municipal Gas Acquisition and Supply Corporation IV, Gas Supply Revenue Bonds, Series 2023A, (Mandatory Put 1/01/30) | 5.500 | 01/01/54 | 5301038 |

---

144 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TEXAS** (continued) |  |  |  |
| $15000000 | Texas Municipal Gas Acquisition and Supply Corporation IV, Gas Supply Revenue Bonds, Series 2023B, (Mandatory Put 1/01/34) | 5.500% | 01/01/54 | $16472183 |
| 6665000 | Texas Municipal Gas Acquisition and Supply Corporation V, Texas, Gas Supply Revenue Bonds, Series 2024, (Mandatory Put 1/01/34) | 5.000 | 01/01/55 | 7088012 |
| 2000000 | Texas Private Activity Bond Surface Transpiration Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 LLC Refunding Series 2023, (AMT) | 5.000 | 12/31/33 | 2101101 |
| 2900000 | Texas Private Activity Bond Surface Transpiration Corporation, Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3 LLC Refunding Series 2023, (AMT) | 5.000 | 06/30/34 | 3045095 |
| 3025000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Refunding Series 2020A | 4.000 | 12/31/30 | 3066496 |
| 4005000 | Texas Private Activity Bond Surface Transportation Corporation, Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-635 Managed Lanes Project, Refunding Series 2020A | 4.000 | 06/30/31 | 4042624 |
| 5000000 | Texas State University System, Financing Revenue Bonds, Refunding Series 2024 | 5.000 | 03/15/26 | 5104097 |
| 3155000 | Texas State University System, Financing Revenue Bonds, Refunding Series 2024 | 5.000 | 03/15/27 | 3281240 |
| 7500000 | Texas State, General Obligation Bonds, Texas Transportation Commission, Mobility Fund Refunding Series 2024 | 5.000 | 10/01/31 | 8355585 |
| 13330000 | Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Refunding Series 2015A | 5.000 | 10/01/32 | 13436804 |
| 10000000 | Texas State, General Obligation Bonds, Transportation Commission Mobility Fund, Refunding Series 2015B | 5.000 | 10/01/36 | 10060335 |
| 5315000 | Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Refunding Second Tier Series 2024C | 5.000 | 08/15/31 | 5845111 |
| 4000000 | Texas Transportation Commission, General Obligation Bonds, Highway Improvement Refunding Series 2024 | 5.000 | 04/01/26 | 4089747 |
| 4355000 | Texas Transportation Commission, General Obligation Bonds, Highway Improvement Refunding Series 2024 | 5.000 | 04/01/28 | 4627405 |
|  | TOTAL TEXAS |  |  | 322952210 |
|  | **UTAH - 0.6%** |  |  |  |
| 2750000 | Intermountain Power Agency, Utah, Power Supply Revenue Bonds, Series 2022A | 5.000 | 07/01/27 | 2859623 |
| 1100000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.000 | 07/01/26 | 1121904 |
| 1200000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.000 | 07/01/27 | 1241225 |
| 1100000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.000 | 07/01/28 | 1150163 |
| 1635000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.000 | 07/01/29 | 1726425 |
| 1470000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.000 | 07/01/30 | 1565634 |
| 5115000 | Utah County, Utah, Hospital Revenue Bonds, IHC Health Services Inc., Series 2020B-2, (Mandatory Put 8/01/26) | 5.000 | 05/15/60 | 5199980 |
| 3605000 | Utah Housing Corporation, Single Family Mortgage Bonds, Series 2024E | 4.050 | 07/01/39 | 3519382 |
| 700000 | Utah Telecommunication Open Infrastructure Agency, Utah, Revenue Bonds, Refunding Sales Tax and Telecommunication Series 2022 | 5.000 | 06/01/26 | 714900 |
| 1500000 | Utah Transit Authority, Sales Tax Revenue Bonds, Refunding Series 2024 | 5.000 | 06/15/30 | 1648546 |
| 1125000 | Utah Transit Authority, Sales Tax Revenue Bonds, Refunding Series 2024 | 5.000 | 06/15/31 | 1251294 |
| 1375000 | Utah Transit Authority, Sales Tax Revenue Bonds, Refunding Series 2024 | 5.000 | 06/15/32 | 1542498 |
| 3190000 | Utah Transit Authority, Sales Tax Revenue Bonds, Refunding Subordinate Series 2024 | 5.000 | 06/15/30 | 3497834 |
|  | TOTAL UTAH |  |  | 27039408 |

---

See Notes To Financial Statements 145

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **VERMONT - 0.1%** |  |  |  |
| $1155000 | Vermont Housing Finance Agency, Multiple Purpose Bonds, Series 2021A | 2.200% | 11/01/36 | $895348 |
| 2875000 | Vermont Housing Finance Agency, Multiple Purpose Bonds, Social Series 2024C | 4.125 | 11/01/39 | 2833969 |
|  | TOTAL VERMONT |  |  | 3729317 |
|  | **VIRGINIA - 1.2%** |  |  |  |
| 2700000 | Alexandria Redevelopment and Housing Authority, Virginia, Multifamily Housing Revenue Bonds, 431 S Columbus St Block 4, Series 2024A, (Mandatory Put 12/01/25) | 3.400 | 12/01/54 | 2702368 |
| 4525000 | Charles City County Industrial Development Authority, Virginia, Solid Waste Disposal Facility Revenue Bonds, Waste Management, Inc., Series 2002, (AMT) | 1.450 | 04/01/27 | 4278594 |
| 1500000 | Halifax County Industrial Development Authority, Virginia, Recovery Zone Facility Revenue Bonds, Virginia Electric & Power Company Project, Series 2010A, (Mandatory Put 5/28/27) | 3.800 | 12/01/41 | 1516515 |
| 5265000 | Hampton Roads Transportation Accountability Commission, Virginia, Revenue Bonds, Hampton Roads Transportation Fund, Intermediate Lien Bond Anticipation Notes Series 2023A | 5.000 | 07/01/27 | 5518161 |
| 7530000 | Loudoun County, Virginia, General Obligation Bonds, Public Improvement Series 2019A | 5.000 | 12/01/26 | 7814589 |
| 5350000 | Loudoun County, Virginia, General Obligation Bonds, Public Improvement Series 2023A | 5.000 | 12/01/35 | 5962959 |
| 1800000 | Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2023E-3 | 4.000 | 10/01/39 | 1726908 |
| 2720000 | Virginia Housing Development Authority, Commonwealth Mortgage Bonds, Series 2023E-4 | 4.100 | 07/01/40 | 2650289 |
| 1300000 | Virginia Housing Development Authority, Rental Housing Bonds, Series 2024H | 3.625 | 06/01/29 | 1295053 |
| 25095000 | Wise County Industrial Development Authority, Virginia, Solid Waste and Sewage Disposal Revenue Bonds, Virginia Electric and Power Company, Series 2009A, (Mandatory Put 9/02/25) | 0.750 | 10/01/40 | 24671303 |
|  | TOTAL VIRGINIA |  |  | 58136739 |
|  | **WASHINGTON - 1.3%** |  |  |  |
| 3730000 | Port of Seattle, Washington, Revenue Bonds, Refunding First Lien Series 2016B, (AMT) | 5.000 | 10/01/28 | 3791482 |
| 6500000 | Port of Seattle, Washington, Revenue Bonds, Refunding Intermediate Lien Series 2024B, (AMT) | 5.000 | 07/01/27 | 6751928 |
| 3750000 | Port of Seattle, Washington, Revenue Bonds, Refunding Intermediate Lien Series 2024B, (AMT) | 5.000 | 07/01/28 | 3945761 |
| 4275000 | Port of Seattle, Washington, Revenue Bonds, Refunding Intermediate Lien Series 2024B, (AMT) | 5.000 | 07/01/31 | 4605687 |
| 3410000 | Washington Health Care Facilities Authority, Revenue Bonds, CommonSpirit Health, Series 2019B-2, (Mandatory Put 8/01/25) | 5.000 | 08/01/49 | 3416014 |
| 6145000 | Washington Health Care Facilities Authority, Revenue Bonds, MultiCare Health System, Series 2015B | 5.000 | 08/15/27 | 6179705 |
| 1625000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2018B | 5.000 | 10/01/25 | 1641386 |
| 2910000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2018B | 5.000 | 10/01/26 | 2999032 |
| 3055000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2018B | 5.000 | 10/01/27 | 3181176 |
| 2360000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2018B | 5.000 | 10/01/28 | 2489858 |
| 3755000 | Washington State Housing Finance Commission, Single Family Program Bonds, Series 2021-1N | 2.000 | 12/01/36 | 2798183 |
| 1500000 | Washington State Housing Finance Commission, Single Family Program Bonds, Series 2021-2N | 2.250 | 12/01/36 | 1168894 |
| 3654326 | Washington State Housing Finance Commission, Social Municipal Certificates Multifamily Revenue Bonds, Series 2021-1 Class A | 3.500 | 12/20/35 | 3360947 |
| 8430000 | Washington State, General Obligation Bonds, Refunding Motor Vehicle Fuel Tax, Series R-2020D | 5.000 | 07/01/26 | 8668948 |

---

146 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **WASHINGTON** (continued) |  |  |  |
| $5000000 | Washington State, General Obligation Bonds, Various Purpose Refunding Series 2025B | 5.000% | 07/01/29 | $5417017 |
|  | TOTAL WASHINGTON |  |  | 60416018 |
|  | **WEST VIRGINIA - 0.8%** |  |  |  |
| 2500000 | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company - Amos Project, Refunidng Series 2015A, (Mandatory Put 6/15/28) | 3.375 | 03/01/40 | 2480922 |
| 7095000 | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company - Amos Project, Series 2010, (Mandatory Put 12/15/25) | 0.625 | 12/01/38 | 6937840 |
| 6875000 | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company - Amos Project, Series 2011A, (AMT), (Mandatory Put 9/01/25) | 1.000 | 01/01/41 | 6776063 |
| 10055000 | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Appalachian Power Company - Amos Project, Seriess 2009A, (Mandatory Put 6/01/25) | 3.750 | 12/01/42 | 10060136 |
| 1000000 (b) | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Core Natural Resources, INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35) | 5.450 | 01/01/55 | 1024343 |
| 9335000 | West Virginia Economic Development Authority, Solid Waste Disposal Facilities Revenue Bonds, Wheeling Power Company - Mitchell Project, Refunding Series 2013A, (AMT), (Mandatory Put 6/18/27) | 3.000 | 06/01/37 | 9145150 |
| 2120000 | West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Charleston Area Medical Center, Series 2014A | 5.000 | 09/01/27 | 2122327 |
| 1000000 | West Virginia Hospital Finance Authority, Hospital Revenue Bonds, Charleston Area Medical Center, Series 2014A | 5.000 | 09/01/28 | 1001012 |
|  | TOTAL WEST VIRGINIA |  |  | 39547793 |
|  | **WISCONSIN - 2.5%** |  |  |  |
| 1385000 | Dodge County, Wisconsin, General Obligation Bonds, Refunding Series 2022A | 3.000 | 03/01/26 | 1383643 |
| 2460000 | Madison Metropolitan School District, Dane County, Wisconsin, General Obligation Bonds, School Building & Facility Improvement Series 2023 | 4.000 | 03/01/36 | 2483831 |
| 6435000 | Madison, Wisconsin, General Obligation Bonds, Promissory Notes Series 2023A | 5.000 | 10/01/26 | 6652984 |
| 9750000 | Madison, Wisconsin, Industrial Development Revenue Refunding Bonds, Madison Gas and Electric Company Projects, Series 2020A | 3.750 | 10/01/27 | 9848356 |
| 3665000 | Milwaukee Area Technical College District, Wisconsin, General Obligation Promissory Notes, Series 2023-24C | 5.000 | 06/01/26 | 3760439 |
| 10030000 | Public Finance Authority of Wisconsin, Pollution Control Revenue Bonds, Duke Energy Progress Project, Refunding Series 2022A-2, (Mandatory Put 10/01/26) | 3.300 | 10/01/46 | 10032786 |
| 12310000 | Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2016A-3, (Mandatory Put 6/01/26) | 1.100 | 07/01/29 | 11900206 |
| 4000000 | Public Finance Authority of Wisconsin, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Refunding Series 2016A-4, (Mandatory Put 6/01/26) | 1.100 | 04/01/33 | 3861130 |
| 2250000 | Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C | 4.050 | 11/01/30 | 2224725 |
| 5000000 | Public Finance Authority, Wisconsin, Exempt Facilities Revenue Bonds, Celanese Project, Refunding Series 2016C | 4.300 | 11/01/30 | 4968554 |
| 7065000 | University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Sustainability Series 2002B, (Mandatory Put 10/01/31) | 5.000 | 04/01/54 | 7688421 |
| 3830000 | Waushara County, Wisconsin Note Anticipation Notes, Series 2022A | 4.500 | 06/01/27 | 3837123 |
| 4015000 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Advocate Aurora Health Credit Group, Series 2018C-1, (Mandatory Put 7/29/26) | 5.000 | 08/15/54 | 4101340 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **147** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Limited Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **WISCONSIN** (continued) |  |  |  |
| $5000000 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Marshfield Clinic Health System, Inc., Series 2020B-2, (Mandatory Put 2/15/27) | 5.000% | 02/15/51 | $5091467 |
| 1770000 | Wisconsin Housing and Ecconomic Development Authority, Home Ownership Revenue Bonds, Series 2019C | 2.200 | 03/01/31 | 1571253 |
| 1785000 | Wisconsin Housing and Ecconomic Development Authority, Home Ownership Revenue Bonds, Series 2019C | 2.200 | 09/01/31 | 1566897 |
| 4950000 | Wisconsin Housing and Ecconomic Development Authority, Home Ownership Revenue Bonds, Series 2019C | 2.500 | 09/01/34 | 4212550 |
| 2960000 | Wisconsin Housing and Economic Development Authority, Housing Revenue Bonds, Series 2023B, (Mandatory Put 11/01/26) | 3.750 | 05/01/54 | 2961146 |
| 1745000 | Wisconsin Housing and Economic Development Authority, Housing Revenue Bonds, Series 2023E, (Mandatory Put 5/01/27) | 3.875 | 11/01/54 | 1751243 |
| 6000000 | Wisconsin State, General Obligation Bonds, Refunding Forward Delivery Series 2025-2 | 5.000 | 05/01/27 | 6278393 |
| 2205000 | Wisconsin State, General Obligation Bonds, Refunding Series 2024-2 | 5.000 | 05/01/27 | 2307309 |
| 9750000 | Wisconsin State, General Obligation Bonds, Refunding Series 2024-2 | 5.000 | 05/01/28 | 10400615 |
| 10000000 | Wisconsin State, General Obligation Bonds, Refunding Series 2025-3 | 5.000 | 05/01/30 | 10998061 |
|  | TOTAL WISCONSIN |  |  | 119882472 |
|  | **WYOMING - 0.6%** |  |  |  |
| 20555000 | Sweetwater County, Wyoming, Pollution Control Revenue Refunding Bonds, Idaho Power Company Project, Series 2006 | 1.700 | 07/15/26 | 19955997 |
| 2510000 | Wyoming Community Development Authority, Housing Revenue Bonds, 2019 Series 3 | 2.450 | 12/01/34 | 2111061 |
| 1310000 | Wyoming Community Development Authority, Housing Revenue Bonds, 2020 Series 1 | 2.625 | 12/01/35 | 1092436 |
| 2575000 | Wyoming Community Development Authority, Housing Revenue Bonds, 2020 Series 2 | 2.100 | 12/01/35 | 1990677 |
| 5375000 | Wyoming Community Development Authority, Housing Revenue Bonds, 2021 Series 3 | 2.000 | 12/01/36 | 4005389 |
|  | TOTAL WYOMING |  |  | 29155560 |
|  | **TOTAL MUNICIPAL BONDS<br>(Cost $4,740,483,723)** |  |  | **4609537260** |
|  | **TOTAL LONG-TERM INVESTMENTS<br>(Cost $4,740,483,723)** |  |  | **4609537260** |
|  | **BORROWINGS - (0.7)% (f)** |  |  | **(35013850)** |
|  | **OTHER ASSETS & LIABILITIES, NET - 3.1%** |  |  | **150368694** |
|  | **NET ASSETS - 100%** |  |  | $**4724892104** |

---

AMT Alternative Minimum Tax

ETM Escrowed to maturity

---

| | |
|:---|:---|
| PIK | Payment-in-kind ("PIK") security. Depending on the terms of the security, income may be received in the form of cash, securities, or a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the issuer as of the end of the reporting period.  |

---

(a) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely payment of principal and interest.

(b) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers. As of the end of the reporting period, the aggregate value of these securities is $105,874,712 or 2.3% of Total Investments.

(c) When-issued or delayed delivery security.

(d) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding. The rate shown is the coupon as of the end of the reporting period.

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

(f) Borrowings as a percentage of Total Investments is 0.8%.

148 *See Notes To Financial Statements*

------

Portfolio of Investments March 31, 2025

Short Term

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **LONG-TERM INVESTMENTS - 99.3%** |  |  |  |
|  | **MUNICIPAL BONDS - 99.3%** |  |  |  |
|  | **ALABAMA - 5.3%** |  |  |  |
| $4170000 | Black Belt Energy Gas District, Alabama, Gas PrePay Revenue Bonds, Project 4 Series 2019A-1, (Mandatory Put 12/01/25) | 4.000% | 12/01/49 | $4183246 |
| 2000000 | Black Belt Energy Gas District, Alabama, Gas Project Revenue Bonds, Prepay BP PLC, Series 2024D | 5.000 | 11/01/27 | 2064001 |
| 1000000 | Black Belt Energy Gas District, Alabama, Gas Supply Revenue Bonds, Series 2023 Sub B-1 | 5.000 | 06/01/27 | 1031282 |
| 1600000 | Energy Southeast Cooperative District, Alabama, Energy Supply Revenue Bonds, Fixed Rate Series 2023B-1 | 5.500 | 11/01/27 | 1672747 |
| 1000000 | Jefferson County, Alabama, Sewer Revenue Warrants, Series 2024 | 5.000 | 10/01/27 | 1042396 |
| 2965000 | Lower Alabama Gas District, Alabama, Goldman Sachs Gas Project 2 Revenue Bonds, Series 2020A, (Mandatory Put 12/01/25) | 4.000 | 12/01/50 | 2971835 |
| 1795000 | Mobile Industrial Development Board, Alabama, Pollution Control Revenue Refunding Bonds, Alabama Power Company Barry Plan, Series 2007A, (Mandatory Put 6/26/25) | 1.000 | 06/01/34 | 1783791 |
| 1500000 | Southeast Alabama Gas Supply District, Alabama, Gas Supply Revenue Bonds, Project 1, Refunding Series 2024A | 5.000 | 04/01/28 | 1560894 |
| 1500000 | Southeast Energy Authority, Alabama, A Cooperative District Energy Supply Revenue Bonds Series 2024A | 5.000 | 11/01/27 | 1532772 |
| 1270000 | Southeast Energy Authority, Alabama, Commodity Supply Revenue Bonds, Project 3, Fixed Rate Series 2022A-1 | 5.000 | 12/01/26 | 1298155 |
| 1000000 | Southeast Energy Authority, Alabama, Commodity Supply Revenue Bonds, Project 4, Series 2022B-1 | 5.000 | 08/01/25 | 1004821 |
| 1580000 | Southeast Energy Authority, Alabama, Revenue Bonds, Cooperative District Energy Supply Series 2025B | 5.000 | 01/01/28 | 1623001 |
|  | TOTAL ALABAMA |  |  | 21768941 |
|  | **ALASKA - 0.7%** |  |  |  |
| 815000 | Alaska Housing Finance Corporation, Collateralized Mortgage Bonds, Veterans Mortgage Program, 2024 First Series | 3.250 | 12/01/27 | 815160 |
| 1000000 | Alaska Housing Finance Corporation, General Obligation Bonds, State Capital Project II, Series 2024A | 5.000 | 12/01/27 | 1050295 |
| 1000000 | Alaska State, General Obligation Bonds, Refunding Series 2024B | 5.000 | 08/01/27 | 1050451 |
|  | TOTAL ALASKA |  |  | 2915906 |
|  | **ARIZONA - 3.4%** |  |  |  |
| 650000 | 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 | 650984 |
| 530000 | Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2019, (AMT), (Mandatory Put 6/01/29) | 4.000 | 06/01/49 | 528131 |
| 2395000 | Chandler Industrial Development Authority, Arizona, Industrial Development Revenue Bonds, Intel Corporation Project, Series 2022-2, (AMT), (Mandatory Put 9/01/27) | 5.000 | 09/01/52 | 2453986 |
| 1000000 | Coconino County, Arizona, Pollution Control Revenue Bonds, Nevada Power Company Project, Refunding Series 2017B, (Mandatory Put 3/31/26) | 3.750 | 03/01/39 | 999606 |
| 630000 | Kyrene Elementary School District 28, Maricopa County, Arizona, School Improvement Bonds, Project 2017, Series 2023D | 5.000 | 07/01/26 | 647308 |
| 505000 | Kyrene Elementary School District 28, Maricopa County, Arizona, School Improvement Bonds, Project 2017, Series 2023D | 5.000 | 07/01/27 | 529621 |
| 310000 | Kyrene Elementary School District 28, Maricopa County, Arizona, School Improvement Bonds, Project 2017, Series 2023D | 5.000 | 07/01/28 | 331117 |
| 7550000 | Maricopa County Industrial Development Authority, Arizona, Revenue Bonds, Banner Health, Series 2019D, (Mandatory Put 5/15/26) | 5.000 | 01/01/46 | 7705650 |
|  | TOTAL ARIZONA |  |  | 13846403 |

---

See Notes To Financial Statements 149

------

Portfolio of Investments March 31, 2025 (continued)

Short Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **CALIFORNIA - 3.8%** |  |  |  |
| $1000000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023E-1 | 5.000% | 09/01/27 | $1037413 |
| 1750000 | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2024B | 5.000 | 12/01/27 | 1805331 |
| 1550000 | California Municipal Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2022A, (AMT), (Mandatory Put 10/01/25) | 4.125 | 10/01/41 | 1551246 |
| 2000000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Refunding Subordinate Green Series 2025A, (AMT) | 5.000 | 05/15/29 | 2106918 |
| 2000000 | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2016B, (AMT) | 5.000 | 05/15/27 | 2033873 |
| 1000000 | Los Angeles, California, General Obligation Bonds, Tax & Revenue Anticipation Notes, Series 2024 | 5.000 | 06/26/25 | 1004514 |
| 1160000 | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Refunding Subordinate Series 2020C, (AMT) | 5.000 | 07/01/25 | 1165455 |
| 2000000 | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2021B, (AMT) | 5.000 | 07/01/26 | 2049225 |
| 2735000 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2019H, (AMT) | 5.000 | 05/01/25 | 2739213 |
|  | TOTAL CALIFORNIA |  |  | 15493188 |
|  | **COLORADO - 7.6%** |  |  |  |
| 655000 (a) | Broadway Park North Metropolitan District 2, Denver, Colorado, Limited Tax General Obligation Bonds, Refunding & Improvement Series 2020 | 3.375 | 12/01/26 | 640315 |
| 100000 | Colorado Educational and Cultural Facilities Authority, Revenue Bonds, Aspen View Academy Project, Series 2021 | 4.000 | 05/01/26 | 99659 |
| 620000 (b) | Colorado Health Facilities Authority, Colorado, Revenue Bonds, AdventHealth Obligated Group, Series 2019B, (Pre-refunded 11/19/26) | 5.000 | 11/15/49 | 638772 |
| 1760000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Adventist Health, Sunbelt Obligated Group, Series 2016C, (Mandatory Put 11/15/26) | 5.000 | 11/15/36 | 1813479 |
| 500000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019A-2 | 5.000 | 08/01/26 | 512971 |
| 2265000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, CommonSpirit Health, Series 2019B-2, (Mandatory Put 8/01/26) | 5.000 | 08/01/49 | 2299648 |
| 13820000 | Colorado Health Facilities Authority, Colorado, Revenue Bonds, Intermountain Healthcare, Series 2022A, (Mandatory Put 8/17/26) | 5.000 | 05/15/62 | 14156253 |
| 2300000 | Colorado Housing and Finance Authority, Multi Family Project Bonds, Class I Series 2025C-2 | 3.350 | 07/01/28 | 2300520 |
| 2000000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2022D, (AMT) | 5.000 | 11/15/25 | 2022338 |
| 3500000 | Denver City and County, Colorado, Airport System Revenue Bonds, Series 2022D, (AMT) | 5.250 | 11/15/26 | 3607737 |
| 2055000 | Denver City and County, Colorado, Airport System Revenue Bonds, Subordinate Lien Series 2018A, (AMT) | 5.000 | 12/01/27 | 2135864 |
| 290000 | Gold Hill Mesa Metropolitan District 2, Colorado Springs, El Paso County, Colorado, Limited Tax General Obligation and Special Revenue Bonds, Refunding & Improvement Series 2022A - BAM Insured | 5.000 | 12/01/26 | 298755 |
| 100000 | Prairiestar Metropolitan District 2, Larimer County, Colorado, Limited Tax General Obligation Bonds, Refunding & Improvement Series 2021A - BAM Insured | 5.000 | 12/01/25 | 101266 |
| 510000 | Ravenna Metropolitan District, Douglas County, Colorado, General Obligation Bonds, Refunding Limited Tax Series 2023 - AGM Insured | 5.000 | 12/01/27 | 529804 |
|  | TOTAL COLORADO |  |  | 31157381 |

---

150 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **CONNECTICUT - 1.6%** |  |  |  |
| $630000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2025A-1 | 3.200% | 05/15/28 | $631637 |
| 650000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2025A-1 | 3.200 | 11/15/28 | 651492 |
| 550000 | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2025B-2, (Mandatory Put 5/15/28) | 3.300 | 05/15/60 | 548691 |
| 1175000 | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Refunding Forward Delivery Series 2021C | 5.000 | 01/01/27 | 1221539 |
| 3340000 | University of Connecticut, General Obligation Bonds, Refunding Series 2023A | 5.000 | 08/15/27 | 3507221 |
|  | TOTAL CONNECTICUT |  |  | 6560580 |
|  | **DELAWARE -0.3%** |  |  |  |
| 225000 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2025A | 3.250 | 07/01/27 | 225144 |
| 205000 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2025A | 3.300 | 01/01/28 | 205295 |
| 590000 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2025A | 3.350 | 07/01/28 | 590675 |
| 430000 | Delaware State Housing Authority, Senior Single Family Mortgage Revenue Bonds, Series 2025A | 3.400 | 01/01/29 | 431009 |
|  | TOTAL DELAWARE |  |  | 1452123 |
|  | **DISTRICT OF COLUMBIA - 2.2%** |  |  |  |
| 6005000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2017, (AMT) | 5.000 | 10/01/26 | 6162004 |
| 1700000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2022A, (AMT) | 5.000 | 10/01/25 | 1714945 |
| 1000000 | Metropolitan Washington D.C. Airports Authority, Airport System Revenue Bonds, Refunding Series 2023A, (AMT) | 5.000 | 10/01/25 | 1008791 |
|  | TOTAL DISTRICT OF COLUMBIA |  |  | 8885740 |
|  | **FLORIDA - 2.8%** |  |  |  |
| 3000000 | Broward County School Board, Florida, Certificates of Participation, Series 2015A | 5.000 | 07/01/25 | 3015169 |
| 1700000 (a) | Florida Development Finance Corporation, Revenue Bonds, Brightline Florida Passenger Rail Expansion Project, Series 2025A, (AMT), (Mandatory Put 8/13/25) | 8.250 | 07/01/57 | 1765438 |
| 1035000 | Greater Orlando Aviation Authority, Florida, Airport Facilities Revenue Bonds, Series 2019A, (AMT) | 5.000 | 10/01/25 | 1044921 |
| 500000 | Miami, Florida, Special Obligation Non-Ad Valorem Revenue Bonds, New Administrative Building Series 2023A | 5.000 | 03/01/27 | 521335 |
| 2600000 | Miami-Dade County, Florida, Seaport Revenue Bonds, Refunding Series 2022A, (AMT) | 5.000 | 10/01/26 | 2666057 |
| 2510000 | Orange County Health Facilities Authority, Florida, Hospital Revenue Bonds, Advent Health Obligated Group, Series 2021C, (Mandatory Put 11/15/26) | 5.000 | 11/15/52 | 2586268 |
|  | TOTAL FLORIDA |  |  | 11599188 |
|  | **GEORGIA - 2.0%** |  |  |  |
| 1345000 | Atlanta, Georgia, Airport General Revenue Bonds, Refunding Series 2023G, (AMT) | 5.000 | 07/01/25 | 1351088 |
| 2045000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2021A, (Mandatory Put 9/01/27) | 4.000 | 07/01/52 | 2062322 |
| 1000000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2023A | 5.000 | 06/01/26 | 1017022 |
| 1000000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2023A | 5.000 | 06/01/27 | 1027700 |
| 1000000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2023D | 5.000 | 12/01/26 | 1023962 |
| 250000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2025A | 5.000 | 12/01/26 | 256481 |
| 500000 | Main Street Natural Gas Inc., Georgia, Gas Supply Revenue Bonds, Series 2025A | 5.000 | 12/01/27 | 519287 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **151** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Short Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **GEORGIA** (continued) |  |  |  |
| $755000 | Wayne County School District, Georgia, General Obligation Sales Tax Bonds, Series 2023 | 5.250% | 09/01/27 | $797849 |
|  | TOTAL GEORGIA |  |  | 8055711 |
|  | **HAWAII - 0.5%** |  |  |  |
| 2080000 | Hawaii Department of Budget and Finance, Special Purpose Revenue Bonds, Hawaii Pacific Health Obligated Group, Series 2023C | 5.000 | 07/01/28 | 2197134 |
|  | TOTAL HAWAII |  |  | 2197134 |
|  | **ILLINOIS - 7.9%** |  |  |  |
| 425000 | Chicago Board of Education, Illinois, General Obligation Bonds, Dedicated Revenues, Refunding Series 2019A | 0.000 | 12/01/25 | 414111 |
| 4000000 | Chicago, Illinois, General Airport Revenue Bonds, O'Hare International Airport, Refunding Senior Lien Series 2024C | 5.000 | 01/01/27 | 4114094 |
| 1000000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Second Lien Series 2016A | 5.000 | 01/01/26 | 1015046 |
| 3000000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2023C | 5.000 | 01/01/27 | 3070143 |
| 545000 | Chicago, Illinois, Midway Airport Revenue Bonds, Refunding Senior Lien Series 2024A | 5.000 | 01/01/26 | 553200 |
| 1165000 | Cook County School District 78 Rosemont, Illinois, General Obligation Bonds, Series 2020 - AGM Insured | 5.000 | 12/01/26 | 1197873 |
| 815000 | Cook County, Illinois, General Obligation Bonds, Refunding Series 2021A | 5.000 | 11/15/25 | 824103 |
| 1000000 | Illinois Development Finance Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2019, (Mandatory Put 11/03/25) | 4.250 | 11/01/44 | 1002847 |
| 400000 | Illinois Finance Authority, Health Services Facility Lease Revenue Bonds, Provident Group - UIC Surgery Center, LLC - University of Illinois Health Services Facility Project, Series 2020 | 5.000 | 10/01/25 | 402605 |
| 1185000 | Illinois Finance Authority, Revenue Bonds, University of Chicago Medicine, Series 2022B-1, (Mandatory Put 8/15/25) | 5.000 | 08/15/52 | 1187147 |
| 4365000 | Illinois State, General Obligation Bonds, May Refunding Series 2023D | 5.000 | 07/01/25 | 4385485 |
| 310000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/25 | 313369 |
| 85000 | Illinois State, General Obligation Bonds, November Series 2017D | 3.250 | 11/01/26 | 84930 |
| 2820000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/26 | 2900206 |
| 850000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/27 | 886311 |
| 25000 | Illinois State, General Obligation Bonds, November Series 2017D | 5.000 | 11/01/28 | 25982 |
| 2000000 | Illinois State, General Obligation Bonds, Refunding October Series 2024 | 5.000 | 02/01/26 | 2031105 |
| 1000000 | Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding Junior Obligation March Series 2025A | 5.000 | 06/15/28 | 1054355 |
| 1000000 | Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding Junior Obligation March Series 2025A | 5.000 | 06/15/29 | 1067229 |
| 2280000 | Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding Junior Obligation September Series 2021C | 5.000 | 06/15/27 | 2367992 |
| 500000 | University of Illinois, Health Services Facilities System Revenue Bonds, Refunding Series 2023 | 5.000 | 10/01/27 | 520407 |
| 525000 | University of Illinois, Health Services Facilities System Revenue Bonds, Refunding Series 2023 | 5.000 | 10/01/28 | 551937 |
| 1010000 (b) | Will County Community Unit School District 201-U Crete-Monee, Illinois, General Obligation Bonds, Capital Appreciation Series 2005 - NPFG Insured, (ETM) | 0.000 | 11/01/25 | 990769 |
| 1085000 | Will County School District 86, Joliet, Illinois, General Obligation Bonds, School Series 2023 - BAM Insured | 5.000 | 03/01/26 | 1104643 |
| 700000 | Will County School District 86, Joliet, Illinois, General Obligation Bonds, School Series 2023 - BAM Insured | 5.000 | 03/01/28 | 734432 |
|  | TOTAL ILLINOIS |  |  | 32800321 |

---

152 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **INDIANA - 1.2%** |  |  |  |
| $500000 | Avon Community School Building Corporation, Hendricks County, Indiana, First Mortgage Bonds, Ad Valorem Property Tax Series 2023 | 5.000% | 07/15/26 | $513126 |
| 500000 | Avon Community School Building Corporation, Hendricks County, Indiana, First Mortgage Bonds, Ad Valorem Property Tax Series 2023 | 5.000 | 07/15/27 | 522054 |
| 505000 | Avon Community School Building Corporation, Hendricks County, Indiana, First Mortgage Bonds, Ad Valorem Property Tax Series 2023 | 5.000 | 01/15/28 | 531324 |
| 1400000 | Crown Point Multi-School Building Corporation, Indiana, First Mortgage Bonds, Crown Point Community School Corporation, Series 2021 | 5.000 | 01/15/26 | 1423412 |
| 700000 | Indiana Finance Authority, Hospital Revenue Bonds, Marion General Hospital Project, Series 2021A | 5.000 | 07/01/26 | 713421 |
| 400000 | Mount Vernon of Hancock County Multi-School Building Corporation, Indiana, First Mortgage Bonds, Series 2022 | 5.000 | 01/15/27 | 413625 |
| 1000000 | Mount Vernon, Indiana, Environmental Improvement Revenue Bonds, Southern Indiana Gas and Electric Company Project, Series 2015, (AMT), (Mandatory Put 9/01/28) | 4.250 | 09/01/55 | 1004867 |
|  | TOTAL INDIANA |  |  | 5121829 |
|  | **IOWA - 0.0%** |  |  |  |
| 115000 | Iowa Finance Authority Senior Living Facilities Revenue Bonds, Sunrise Retirement Community Project, Refunding Series 2021 | 4.000 | 09/01/25 | 114170 |
|  | TOTAL IOWA |  |  | 114170 |
|  | **KANSAS - 0.4%** |  |  |  |
| 650000 | Manhattan, Kansas, General Obligation Bonds, Temporary Notes, Series 2024-02 - BAM Insured | 5.000 | 06/15/28 | 662853 |
| 1055000 | Wyandotte County-Kansas City Unified Government, Kansas, Utility System Revenue Bonds, Improvement Series 2016A | 5.000 | 09/01/26 | 1062403 |
|  | TOTAL KANSAS |  |  | 1725256 |
|  | **KENTUCKY - 2.1%** |  |  |  |
| 740000 | Kentucky Asset/Liability Commission, General Fund Revenue Project Notes, Federal Highway Trust Fund, First Refunding Series 2024A | 5.000 | 09/01/26 | 762658 |
| 560000 | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 128, Series 2023A | 5.000 | 11/01/27 | 589931 |
| 1055000 | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 130, Series 2024B | 5.000 | 11/01/25 | 1067618 |
| 455000 (c) | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 132, Refunding Series 2025B | 5.000 | 04/01/30 | 495363 |
| 1000000 | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2024B | 5.000 | 08/01/28 | 1039150 |
| 3500000 | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Series 2019C-1, (Mandatory Put 2/01/28) | 4.000 | 02/01/50 | 3512815 |
| 1000000 | Trimble County, Kentucky, Environmental Facilities Revenue Bonds, Kentucky Utilities Company Project Series 2023A, (AMT), (Mandatory Put 6/01/27) | 4.700 | 06/01/54 | 1009006 |
|  | TOTAL KENTUCKY |  |  | 8476541 |
|  | **LOUISIANA - 2.2%** |  |  |  |
| 3300000 | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Insurance Assessment Revenue Bonds, Louisiana Insurance Guaranty Association Project, Series 2022B | 5.000 | 08/15/25 | 3322813 |
| 3250000 | Louisiana Local Government Environmental Facilities and Community Development Authority, Louisiana, Insurance Assessment Revenue Bonds, Louisiana Insurance Guaranty Association Project, Series 2022B | 5.000 | 08/15/26 | 3335383 |
| 1480000 | Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017A-1, (Mandatory Put 7/01/26) | 4.050 | 06/01/37 | 1490554 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **153** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Short Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **LOUISIANA** (continued) |  |  |  |
| $1035000 | Saint John the Baptist Parish, Louisiana, Revenue Bonds, Marathon Oil Corporation Project, Refunding Series 2017C, (Mandatory Put 7/03/28) | 3.300% | 06/01/37 | $1027746 |
|  | TOTAL LOUISIANA |  |  | 9176496 |
|  | **MARYLAND - 0.2%** |  |  |  |
| 1000000 | Baltimore County, Maryland, General Obligation Bonds, Consolidated Public Improvement, Series 2024 | 5.000 | 02/01/27 | 1041058 |
|  | TOTAL MARYLAND |  |  | 1041058 |
|  | **MASSACHUSETTS - 3.0%** |  |  |  |
| 225000 | Massachusetts Development Finance Agency, Revenue Bonds, Williams College, Series 2011N, (Mandatory Put 7/01/25) | 0.450 | 07/01/41 | 222945 |
| 880000 | Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Issue L, Senior Series 2020B, (AMT) | 5.000 | 07/01/25 | 884028 |
| 1850000 | Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Issue M Senior Series 2022B, (AMT) | 5.000 | 07/01/25 | 1858420 |
| 1950000 | Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Issue M, Senior Series 2021B, (AMT) | 5.000 | 07/01/27 | 2005044 |
| 1075000 | Massachusetts Educational Financing Authority, Education Loan Revenue Bonds, Issue M, Taxable Senior Series 2021B, (AMT) | 5.000 | 07/01/25 | 1079893 |
| 500000 | Massachusetts Housing Finance Agency, Housing Bonds, Sustainability Green Series 2023A-3 | 3.050 | 12/01/27 | 496287 |
| 750000 | Massachusetts Housing Finance Agency, Multifamily Housing Bonds, Green Sustainability Series 2024B3 | 3.400 | 12/01/27 | 749447 |
| 5000000 | Massachusetts Port Authority, Revenue Bonds, Series 2019A, (AMT) | 5.000 | 07/01/26 | 5104498 |
|  | TOTAL MASSACHUSETTS |  |  | 12400562 |
|  | **MICHIGAN - 1.4%** |  |  |  |
| 1000000 | Michigan Finance Authority, State Aid Revenue Notes, Series 2024A-1 | 5.000 | 07/21/25 | 1005753 |
| 635000 | Michigan Housing Development Authority, Rental Housing Revenue Bonds, Series 2024A | 3.700 | 04/01/30 | 636303 |
| 1000000 | Michigan State Building Authority, Revenue Bonds, Facilities Program, Refunding Series 2015-I | 5.000 | 04/15/30 | 1007796 |
| 3020000 | Michigan Strategic Fund, Limited Obligation Revenue Bonds, Consumers Energy Company Project, Series 2019, (AMT), (Mandatory Put 10/01/27) | 3.350 | 10/01/49 | 2994422 |
|  | TOTAL MICHIGAN |  |  | 5644274 |
|  | **MINNESOTA - 5.3%** |  |  |  |
| 145000 | Apple Valley, Minnesota Senior Housing Revenue Bonds, PHS Apple Valley Senior Housing, Inc. ? Orchard Path Phase II Project, Series 2021 | 4.000 | 09/01/25 | 144781 |
| 690000 | Becker Independent School District 726, Minnesota, General Obligation Bonds, School Building Series 2022A | 0.000 | 02/01/26 | 670550 |
| 1130000 | Eastern Carver County Independent School District 112, Minnesota, General Obligation Bonds, Facilities Maintenance Series 2025A | 5.000 | 02/01/28 | 1196710 |
| 1100000 | Forest Lake, Minnesota, Charter School Lease Revenue Bonds, Lakes International Language Academy, Series 2019A | 4.375 | 08/01/29 | 1099386 |
| 460000 | Minneapolis, Minnesota, Charter School Lease Revenue Bonds, Yinghua Academy Project, Series 2013A | 6.000 | 07/01/33 | 460432 |
| 610000 | Minneapolis, Minnesota, Health Care System Revenue Bonds, Allina Health System, Series 2023A, (Mandatory Put 11/15/28) | 5.000 | 11/15/52 | 641662 |
| 1315000 | Minneapolis-Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care System Revenue Bonds, Allina Health System, Refunding Series 2017A | 5.000 | 11/15/25 | 1329362 |
| 1530000 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Senior Lien Series 2016A | 5.000 | 01/01/26 | 1555080 |
| 2015000 | Minneapolis-St. Paul Metropolitan Airports Commission, Minnesota, Airport Revenue Bonds, Refunding Subordinate Lien Series 2019B, (AMT) | 5.000 | 01/01/26 | 2044264 |
| 5000000 | Minnesota Municipal Gas Agency, Commodity Supply Revenue Bonds, Series 2022A, (Mandatory Put 12/01/27) | 4.000 | 12/01/52 | 5046464 |

---

154 *See Notes To Financial Statements*

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

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MINNESOTA** (continued) |  |  |  |
| $1240000 | Minnesota State, General Obligation Bonds, Various Purpose Series 2020A | 5.000% | 08/01/25 | $1249423 |
| 750000 | Moorhead, Minnesota, General Obligation Bonds, Improvement Series 2022A | 5.000 | 02/01/26 | 763713 |
| 250000 | Mountain Lake, Minnesota, General Obligation Bonds, Series 2021A | 2.000 | 12/15/25 | 247344 |
| 425000 | New London Economic Development Authority, Minnesota, Lease Revenue Bonds, SWWC Service Cooperative Lease With Option to Purchase Project, Public Series 2023 | 5.000 | 02/01/26 | 429712 |
| 500000 | Northern Municipal Power Agency, Minnesota, Electric System Revenue Bonds, Refunding Series 2016 | 5.000 | 01/01/26 | 507299 |
| 2015000 | Saint Cloud, Minnesota, Health Care Revenue Bonds, CentraCare Health System, Series 2016A | 5.000 | 05/01/27 | 2065526 |
| 170000 | Saint Paul Housing & Redevelopment Authority, Minnesota, Charter School Lease Revenue Bonds, Nova Classical Academy, Refunding Series 2021A | 2.000 | 09/01/26 | 164385 |
| 175000 | Saint Paul Housing and Redevelopment Authority, Minnesota, Health Care Revenue Bonds, Fairview Health Services, Series 2017A | 5.000 | 11/15/27 | 181249 |
| 300000 | Shakopee Independent School District 720, Scott County, Minnesota, Certificates of Participation, Series 2021B | 4.000 | 02/01/26 | 301601 |
| 1225000 | Southern Minnesota Municipal Power Agency, Power Supply System Revenue Bonds, Series 1994A - NPFG Insured | 0.000 | 01/01/26 | 1192736 |
| 400000 | Wayzata, Minnesota Senior Housing Revenue Bonds, Folkestone Senior Living Community, Refunding Series 2019 | 3.000 | 08/01/25 | 398437 |
|  | TOTAL MINNESOTA |  |  | 21690116 |
|  | **MISSISSIPPI - 0.8%** |  |  |  |
| 1015000 | Mississippi Development Bank, Special Obligation Bonds, Mississippi Highway Refunding Project, Refunding Series 2024A | 5.000 | 01/01/28 | 1069155 |
| 1410000 | Mississippi Development Bank, Special Obligation Bonds, Municipal Energy Agency of Mississippi, Power Supply Project, Refunding Series 2015A - AGM Insured | 5.000 | 03/01/28 | 1429275 |
| 1000000 | Warren County, Mississippi, Environmental Improvement Revenue Bonds, International Paper Company Project, Refunding Series 2020B, (AMT), (Mandatory Put 6/16/25) | 1.600 | 08/01/27 | 994787 |
|  | TOTAL MISSISSIPPI |  |  | 3493217 |
|  | **MISSOURI - 2.7%** |  |  |  |
| 1000000 | Kansas City Planned Industrial Expansion Authority, Missouri, Multifamily Housing Revenue Bonds, The Depot on Old Santa Fe Series 2023, (Mandatory Put 7/01/27) | 5.000 | 07/01/45 | 1029895 |
| 125000 | Missouri Environmental Improvement and Energy Resources Authority, Revenue Bonds, Union Electric Company Project, Refunding Series 1998A | 2.900 | 09/01/33 | 111407 |
| 1000000 | Missouri Environmental Improvement and Energy Resources Authority, Revenue Bonds, Union Electric Company Project, Series 1998B | 2.900 | 09/01/33 | 891257 |
| 2500000 | Missouri Health and Educational Facilities Authority, Health Facilities Revenue Bonds, BJC Health System, Series 2021B, (Mandatory Put 5/01/26) | 4.000 | 05/01/51 | 2526340 |
| 250000 | Missouri Health and Educational Facilities Authority, Revenue Bonds, Lake Regional Health System, Series 2021 | 5.000 | 02/15/26 | 251715 |
| 285000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Home Ownership Loan Program Series 2024E | 3.200 | 11/01/26 | 284984 |
| 500000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Home Ownership Loan Program Series 2024E | 3.250 | 05/01/27 | 500254 |
| 300000 | Missouri Housing Development Commission, Single Family Mortgage Revenue Bonds, First Place Home Ownership Loan Program Series 2024E | 3.300 | 11/01/27 | 300299 |
| 500000 | Missouri Joint Municipal Electric Utility Commission, Power Supply System Revenue Bonds, Gree Bonds, MoPEP Facilities, Series 2022 | 5.000 | 12/01/26 | 516908 |

---

---

| | |
|:---|:---|
| See Notes To Financial Statements | **155** |

---

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Portfolio of Investments March 31, 2025 (continued)

Short Term

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **MISSOURI** (continued) |  |  |  |
| $630000 | Saint Louis County Industrial Development Authority, Missouri, Health Facilities Revenue Bonds, Ranken-Jordan Project, Refunding & Improvement Series 2016 | 5.000% | 11/15/26 | $632058 |
| 1120000 | Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Refunding Series 2022, (AMT) | 5.000 | 07/01/25 | 1125211 |
| 1170000 | Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis International Airport, Refunding Series 2022, (AMT) | 5.000 | 07/01/26 | 1195175 |
| 1630000 | Springfield, Missouri, Special Obligation Bonds, Refunding Series 2017B, (AMT) | 5.000 | 07/01/26 | 1659648 |
|  | TOTAL MISSOURI |  |  | 11025151 |
|  | **MONTANA - 0.2%** |  |  |  |
| 365000 (c) | Montana Board of Housing, Single Family Mortgage Bonds, Series 2025A | 3.200 | 06/01/29 | 364245 |
| 370000 (c) | Montana Board of Housing, Single Family Mortgage Bonds, Series 2025A | 3.250 | 12/01/29 | 368938 |
|  | TOTAL MONTANA |  |  | 733183 |
|  | **NEBRASKA - 1.0%** |  |  |  |
| 175000 | Douglas County Hospital Authority 2, Nebraska, Health Facilities Revenue Bonds, Children's Hospital Obligated Group, Refunding Series 2020A | 5.000 | 11/15/25 | 176857 |
| 2710000 | Metropolitan Utilities District of Omaha, Nebraska, Gas System Revenue Bonds, Series 2023 | 5.000 | 12/01/26 | 2809273 |
| 1155000 | Sarpy County School District 037 Gretna Public Schools, Nebraska, General Obligation Bonds, Series 2022B | 5.000 | 12/15/27 | 1169574 |
|  | TOTAL NEBRASKA |  |  | 4155704 |
|  | **NEVADA - 0.4%** |  |  |  |
| 1335000 | Clark County School District, Nevada, General Obligation Bonds, Limited Tax Building Series 2018B - AGM Insured | 5.000 | 06/15/27 | 1397414 |
| 365000 | Las Vegas, Nevada, Local Improvement Bonds, Special Improvement District 816 Summerlin Village 22, Series 2021 | 2.000 | 06/01/25 | 363576 |
|  | TOTAL NEVADA |  |  | 1760990 |
|  | **NEW HAMPSHIRE - 0.4%** |  |  |  |
| 1105000 | New Hampshire Health and Education Facilities Authority, Revenue Bonds, Dartmouth College, Series 2015B, (Mandatory Put 8/03/27) | 3.300 | 06/01/40 | 1108335 |
| 500000 | New Hampshire Housing Finance Authority, Multi-Family Housing Revenue Bonds, Series 2024-2 | 3.150 | 07/01/27 | 498890 |
|  | TOTAL NEW HAMPSHIRE |  |  | 1607225 |
|  | **NEW JERSEY - 1.5%** |  |  |  |
| 1175000 | Cherry Hill Township School District, Camden County, New Jersey, General Obligation Bonds, Series 2022 | 3.000 | 08/01/25 | 1174983 |
| 500000 | New Jersey Economic Development Authority, Water Facilities Revenue Bonds, New Jersey-American Water Company Inc.<br> Project, Refunding Series 2020B, (AMT), (Mandatory Put 6/01/28) | 3.750 | 11/01/34 | 498194 |
| 600000 | New Jersey Higher Education Student Assistance Authority, Student Loan Revenue Bonds, Refunding Senior Series 2022A, (AMT) | 5.000 | 12/01/25 | 605806 |
| 1275000 | New Jersey Higher Education Student Assistance Authority, Student Loan Revenue Bonds, Refunding Series 2023A, (AMT) | 5.000 | 12/01/26 | 1304720 |
| 2500000 | New Jersey Transportation Trust Fund Authority, Transportation System Bonds, Series 2021A | 5.000 | 06/15/26 | 2557672 |
|  | TOTAL NEW JERSEY |  |  | 6141375 |
|  | **NEW MEXICO - 1.1%** |  |  |  |
| 3510000 | New Mexico Hospital Equipment Loan Council, Hospital Revenue Bonds, Presbyterian Healthcare Services, Series 2019B, (Mandatory Put 8/01/25) | 5.000 | 08/01/49 | 3528798 |
| 1000000 (b) | New Mexico Municipal Energy Acquisition Authority, Gas Supply Revenue Bonds, Refunding & Aquisition Sub-Series 2019A, (Pre- refunded 5/01/25), (Mandatory Put 5/01/25) | 5.000 | 11/01/39 | 1001362 |
|  | TOTAL NEW MEXICO |  |  | 4530160 |

---

156 *See Notes To Financial Statements*

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

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

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **NEW YORK - 3.5%** |  |  |  |
| $2625000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2021 Subseries F-1 | 5.000% | 11/01/27 | $2768657 |
| 1000000 | New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Subordinate Fiscal 2025 Subseries Series A-1 | 5.000 | 11/01/27 | 1054727 |
| 1285000 | New York City, New York, General Obligation Bonds, Fiscal 2023 Series 1 | 5.000 | 08/01/25 | 1294636 |
| 1875000 | New York City, New York, General Obligation Bonds, Fiscal 2023 Series 1 | 5.000 | 08/01/26 | 1929107 |
| 1370000 | New York City, New York, General Obligation Bonds, Fiscal 2025 Series A | 5.000 | 08/01/27 | 1437532 |
| 1000000 | New York State Power Authority, Green Transmission Project Revenue Bonds, Green Series 2023A - AGM Insured | 5.000 | 11/15/27 | 1061476 |
| 2895000 | Port Authority of New York and New Jersey, Consolidated Revenue Bonds, Two Hundred Forty Second Series 2023, (AMT) | 5.000 | 12/01/26 | 2972418 |
| 2000000 | Rochester, New York, General Obligation Bonds, Bond Anticipation Notes Series 2024-III | 5.000 | 07/31/25 | 2013333 |
|  | TOTAL NEW YORK |  |  | 14531886 |
|  | **NORTH CAROLINA - 1.5%** |  |  |  |
| 1235000 | North Carolina Housing Finance Agency, Home Ownership Revenue Bonds, 1998 Trust Agreement Series 55C, (Mandatory Put 1/15/26) | 3.200 | 07/01/56 | 1234197 |
| 2000000 | North Carolina Medical Care Commission, Hospital Revenue Bonds, CaroMont Health A/K/A Gaston Health, Series 2021A, (Mandatory Put 2/01/26) | 5.000 | 02/01/51 | 2029270 |
| 1355000 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Refunding Senior Lien Series 2017 - AGM Insured | 5.000 | 01/01/26 | 1375691 |
| 1700000 | North Carolina Turnpike Authority, Triangle Expressway System Revenue Bonds, Refunding Senior Lien Series 2017 - AGM Insured | 5.000 | 01/01/27 | 1760236 |
|  | TOTAL NORTH CAROLINA |  |  | 6399394 |
|  | **NORTH DAKOTA - 0.5%** |  |  |  |
| 350000 | Cass County Joint Water Reserve District, North Dakota, Temporary Improvement Special Assessment Bonds, Refunding Series 2024A | 3.450 | 04/01/27 | 349925 |
| 215000 | Grand Forks, North Dakota, Health Care System Revenue Bonds, Altru Health System Obligated Group, Series 2021 | 5.000 | 12/01/25 | 215922 |
| 450000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2024C | 5.000 | 05/01/26 | 457502 |
| 475000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2024C | 5.000 | 05/01/27 | 488992 |
| 480000 | Horace, Cass County, North Dakota, General Obligation Bonds, Refunding Improvement Series 2024C | 5.000 | 05/01/28 | 497824 |
|  | TOTAL NORTH DAKOTA |  |  | 2010165 |
|  | **OHIO - 1.6%** |  |  |  |
| 1440000 | Akron, Bath and Copley Joint Township Hospital District, Ohio, Hospital Revenue Bonds, Children's Hospital Medical Center, Refunding Series 2022A | 5.000 | 11/15/25 | 1455549 |
| 1000000 | Cleveland, Ohio, Airport System Revenue Bonds, Series 2018A, (AMT) | 5.000 | 01/01/27 | 1025092 |
| 260000 | Cleveland-Cuyahoga County Port Authroity, Ohio, Cultural Facility Revenue Bonds, The Cleveland Museum of Natural History Project, Series 2021 | 5.000 | 07/01/26 | 265916 |
| 1165000 (a) | Jefferson County Port Authority, Ohio, Economic Development Revenue Bonds, JSW Steel USA Ohio, Inc. Project, Series 2023, (AMT), (Mandatory Put 12/01/28) | 5.000 | 12/01/53 | 1182441 |
| 1430000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, American Electric Power Company Project, Refunding Series 2014C, (AMT) | 3.650 | 12/01/27 | 1427860 |
| 1110000 | Ohio Air Quality Development Authority, Ohio, Revenue Bonds, Dayton Power & Light Company Project, Refunding Collateralized Series 2015A, (AMT), (Mandatory Put 6/01/27) | 4.250 | 11/01/40 | 1119874 |
|  | TOTAL OHIO |  |  | 6476732 |

---

See Notes To Financial Statements 157

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Portfolio of Investments March 31, 2025 (continued)

Short Term

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **OKLAHOMA - 1.4%** |  |  |  |
| $3530000 | Canadian County Independent School District 69, Mustang, Oklahoma, General Obligation Bond, Combined Purpose Series 2023 | 4.000% | 06/01/25 | $3535208 |
| 1465000 | Cleveland County Educational Facilities Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Norman Public Schools Project, Series 2023C | 5.000 | 06/01/28 | 1546253 |
| 605000 | Payne County Economic Development Authority, Oklahoma, Educational Facilities Lease Revenue Bonds, Stillwater Public Schools Project, Series 2024 - BAM Insured | 5.000 | 09/01/26 | 620719 |
|  | TOTAL OKLAHOMA |  |  | 5702180 |
|  | **OREGON - 1.6%** |  |  |  |
| 300000 | Oregon Facilities Authority, Revenue Bonds, Samaritan Health Services, Refunding Series 2016A | 5.000 | 10/01/25 | 301805 |
| 1005000 | Salem-Keizer School District 24J, Marion and Polk Counties, Oregon, General Obligation Bonds, Series 2009B | 0.000 | 06/15/27 | 935465 |
| 5070000 | Washington Multnomah & Yamhill Counties School District 1J Hillsboro, Oregon, General Obligation Bonds, Series 2017 | 5.000 | 06/15/26 | 5206903 |
|  | TOTAL OREGON |  |  | 6444173 |
|  | **PENNSYLVANIA - 1.5%** |  |  |  |
| 1600000 | Allegheny County Airport Authority, Pennsylvania, Airport Revenue Bonds, Pittsburgh International Airport, Series 2021A, (AMT) | 5.000 | 01/01/26 | 1623237 |
| 500000 (d) | Pennsylvania Economic Development Financing Authority, Solid Waste Disposal Revenue Bonds, Waste Management Inc., Project, Series 2013, (AMT), (Mandatory Put 5/01/25) | 3.700 | 08/01/45 | 499939 |
| 525000 | Pennsylvania Turnpike Commission, Turnpike Revenue Bonds, Series 2022B | 5.000 | 12/01/25 | 532586 |
| 2000000 | Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding Series 2017B, (AMT) | 5.000 | 07/01/25 | 2009103 |
| 1365000 | University of Pittsburgh of the Commonwealth System of Higher Education, Pennsylvania, Pitt Asset Notes, Series 2023 | 5.000 | 02/15/29 | 1468564 |
|  | TOTAL PENNSYLVANIA |  |  | 6133429 |
|  | **PUERTO RICO - 1.9%** |  |  |  |
| 1240000 (b) | Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Hospital Revenue Bonds, Hospital de la Concepcion, Series 2017A, (Pre- refunded 11/15/26) | 3.550 | 11/15/30 | 1247230 |
| 377000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/27 | 345877 |
| 155000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/29 | 131321 |
| 17000 | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1 | 0.000 | 07/01/31 | 13331 |
| 1213637 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 5.375 | 07/01/25 | 1219086 |
| 3987000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 5.625 | 07/01/27 | 4129479 |
| 614000 | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1 | 5.625 | 07/01/29 | 658079 |
|  | TOTAL PUERTO RICO |  |  | 7744403 |
|  | **SOUTH DAKOTA - 0.1%** |  |  |  |
| 410000 | South Dakota Housing Development Authority, Homeownership Mortgage Revenue Bonds, Series 2024C | 3.300 | 11/01/29 | 408416 |
|  | TOTAL SOUTH DAKOTA |  |  | 408416 |

---

158 *See Notes To Financial Statements*

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TENNESSEE - 0.6%** |  |  |  |
| $100000 | Chattanooga Health, Educational and Housing Facility Board, Tennessee, Revenue Bonds, CommonSpirit Health, Series 2019A-1 | 5.000% | 08/01/28 | $105910 |
| 1000000 | Metropolitan Government of Nashville and Davidson County Sports Authority, Tennessee, Revenue Bonds, Stadium Project, Subordinate Senior Series 2023A - AGM Insured | 5.000 | 07/01/28 | 1060763 |
| 260000 | Metropolitan Nashville Airport Authority, Tennessee, Airport Improvement Revenue Bonds, Series 2022B, (AMT) | 5.000 | 07/01/26 | 265755 |
| 885000 | Metropolitan Nashville Airport Authority, Tennessee, Airport Revenue Bonds, Improvement Series 2015B, (AMT) | 5.000 | 07/01/26 | 888917 |
|  | TOTAL TENNESSEE |  |  | 2321345 |
|  | **TEXAS - 12.7%** |  |  |  |
| 1000000 | Austin, Texas, Airport System Revenue Bonds, Series 2019B, (AMT) | 5.000 | 11/15/25 | 1011478 |
| 1250000 | Austin, Texas, Airport System Revenue Bonds, Series 2019B, (AMT) | 5.000 | 11/15/27 | 1299408 |
| 645000 | Bexar County Hospital District, Texas, Certificates of Obligation, Series 2023 | 5.000 | 02/15/26 | 656644 |
| 400000 | Bexar County Hospital District, Texas, Certificates of Obligation, Series 2023 | 5.000 | 02/15/27 | 414974 |
| 4715000 | Board of Regents of the University of Texas System, Revenue Financing System Bonds, Series 2025A | 5.000 | 08/15/28 | 5047769 |
| 500000 | Brazos Higher Education Authority Inc., Texas, Student Loan Program Revenue Bonds, Senior Series 2020-1A, (AMT) | 5.000 | 04/01/25 | 500000 |
| 5945000 (b) | Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien, Series 2015A, (Pre-refunded 7/01/25) | 5.000 | 01/01/45 | 5976862 |
| 555000 | Chapel Hill Independent School District, Smith County, Texas, General Obligation Bonds, School Building Series 2023 | 5.000 | 02/15/26 | 565309 |
| 1250000 | Cypress-Fairbanks Independent School District, Harris County, Texas, General Obligation Bonds, Refunding Series 2025 | 5.000 | 02/15/29 | 1346293 |
| 1165000 | Dallas, Texas, General Obligation Bonds, Refunding and Improvement Series 2024B | 5.000 | 02/15/27 | 1213376 |
| 1515000 | Dickinson Independent School District, Galveston County, Texas, General Obligation Bonds, Refunding Series 2023A | 5.000 | 02/15/27 | 1578191 |
| 1350000 | Fort Bend County, Texas, General Obligation Bonds, Tax Road Series 2024 | 5.000 | 03/01/27 | 1405546 |
| 500000 | Grand Prairie, Texas, Combination Tax and Revenue Certificates of Obligation, Series 2024 | 5.000 | 02/15/27 | 519553 |
| 500000 | Grand Prairie, Texas, Combination Tax and Revenue Certificates of Obligation, Series 2024 | 5.000 | 02/15/28 | 528898 |
| 2045000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Series 2019A | 5.000 | 12/01/25 | 2072239 |
| 5675000 | Harris County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Memorial Hermann Health System, Series 2019B-3, (Mandatory Put 12/01/26) | 5.000 | 07/01/49 | 5843524 |
| 560000 | Harris County, Texas, Road Revenue Bonds, Refunding, Series 2024A | 5.000 | 09/15/27 | 589238 |
| 3630000 | Houston, Texas, Airport System Revenue Bonds, Refunding & Subordinate Lien Series 2018C, (AMT) | 5.000 | 07/01/26 | 3708107 |
| 1075000 | Houston, Texas, General Obligation Bonds, Refunding Public Improvement Series 2016A | 5.000 | 03/01/27 | 1094275 |
| 850000 | Hunt Memorial Hospital District, Hunt County, Texas, General Obligation Bonds, Refunding & Improvment Series 2020 | 5.000 | 02/15/26 | 860786 |
| 1000000 | Irving, Dallas County, Texas, General Obligation Bonds, Series 2024 | 5.000 | 09/15/28 | 1069980 |
| 400000 | Lake Houston Redevelopment Authority, Texas, Tax Increment Contract Revenue Bonds, Series 2021 | 5.000 | 09/01/25 | 401488 |
| 1210000 | McKinney Independent School District, Collin County, Texas, General Obligation Bonds, Refunding & School Building Series 2021 | 5.000 | 02/15/27 | 1260695 |
| 2235000 | Midlothian Independent School District, Ellis County, Texas, General Obligation Bonds, School Building Series 2020 | 5.000 | 02/15/26 | 2277290 |

---

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| | |
|:---|:---|
| See Notes To Financial Statements | **159** |

---

------

Portfolio of Investments March 31, 2025 (continued)

Short Term

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

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| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **TEXAS** (continued) |  |  |  |
| $500000 (d) | Mission Economic Development Corporation, Texas, Solid Waste Disposal Revenue Bonds, Republic Services Inc. Project, Adjustable Rate Series 2020A, (AMT), (Mandatory Put 6/02/25) | 3.750% | 05/01/46 | $499899 |
| 1250000 | Mission Economic Development Corporation, Texas, Solid Waste Disposal Revenue Bonds, Waste Management Inc. Project, Series 2023A, (AMT), (Mandatory Put 7/01/27) | 4.250 | 06/01/48 | 1252809 |
| 1905000 | North Texas Tollway Authority, System Revenue Bonds, Refunding First Tier Series 2023A | 5.000 | 01/01/27 | 1976140 |
| 1330000 | Plano Independent School District, Collin County, Texas, General Obligation Bonds, School Building Series 2025 | 5.000 | 02/15/28 | 1408756 |
| 315000 (a) | Port Beaumont Navigation District, Jefferson County, Texas, Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast Energy Project, Series 2021A, (AMT) | 1.875 | 01/01/26 | 309480 |
| 1000000 | San Antonio, Texas, General Obligation Bonds, Tax Notes Series 2024 | 5.000 | 02/01/27 | 1041059 |
| 555000 | Tarrant County Cultural Education Facilities Finance Corporation, Texas, Hospital Revenue Bonds, Scott & White Healthcare Project, Series 2022E, (Mandatory Put 5/15/26) | 5.000 | 11/15/52 | 565103 |
| 1055000 | Texas Transportation Commission, Central Texas Turnpike System Revenue Bonds, Refunding Second Tier Series 2024C | 5.000 | 08/15/31 | 1160224 |
| 2850000 (b) | Ysleta Independent School District, El Paso County, Texas, General Obligation Bonds, Series 2016, (Pre-refunded 8/15/25) | 5.000 | 08/15/32 | 2872298 |
|  | TOTAL TEXAS |  |  | 52327691 |
|  | **UTAH - 0.2%** |  |  |  |
| 750000 | Salt Lake City, Utah, Airport Revenue Bonds, International Airport Series 2023A, (AMT) | 5.000 | 07/01/25 | 753243 |
|  | TOTAL UTAH |  |  | 753243 |
|  | **VIRGIN ISLANDS - 0.6%** |  |  |  |
| 1000000 | Matching Fund Special Purpose Securitization Corporation, Virgin Islands, Revenue Bonds, Series 2022A | 5.000 | 10/01/25 | 1006958 |
| 1645000 | Matching Fund Special Purpose Securitization Corporation, Virgin Islands, Revenue Bonds, Series 2022A | 5.000 | 10/01/26 | 1678192 |
|  | TOTAL VIRGIN ISLANDS |  |  | 2685150 |
|  | **VIRGINIA - 1.4%** |  |  |  |
| 3205000 | Hampton Roads Transportation Accountability Commission, Virginia, Revenue Bonds, Hampton Roads Transportation Fund, Intermediate Lien Bond Anticipation Notes Series 2023A | 5.000 | 07/01/27 | 3359108 |
| 1500000 | Virginia Housing Development Authority, Rental Housing Bonds, Series 2024H | 3.600 | 12/01/28 | 1495591 |
| 500000 | Virginia Housing Development Authority, Rental Housing Bonds, Series 2025A | 3.250 | 09/01/29 | 496630 |
| 500000 | Virginia Small Business Financing Authority, Environmental Facilities Revenue Bonds (Pure Salmon Virginia LLC Project), Escrow Refinancing Series 2022, (AMT), (Mandatory Put 11/20/25) | 4.000 | 11/01/52 | 500176 |
|  | TOTAL VIRGINIA |  |  | 5851505 |
|  | **WASHINGTON - 4.3%** |  |  |  |
| 2525000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2015C, (AMT) | 5.000 | 04/01/26 | 2527320 |
| 2030000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2017C, (AMT) | 5.000 | 05/01/25 | 2032765 |
| 1550000 | Port of Seattle, Washington, Revenue Bonds, Intermediate Lien Series 2018A, (AMT) | 5.000 | 05/01/27 | 1605957 |
| 5440000 | Washington Health Care Facilities Authority, Revenue Bonds, CommonSpirit Health, Series 2019B-3, (Mandatory Put 8/01/26) | 5.000 | 08/01/49 | 5523215 |
| 760000 | Washington Health Care Facilities Authority, Revenue Bonds, Providence Saint Joseph Health, Series 2018B | 5.000 | 10/01/25 | 767663 |
| 5000000 | Washington State, General Obligation Bonds, Various Purpose Refunding Series 2025B | 5.000 | 07/01/28 | 5340605 |
|  | TOTAL WASHINGTON |  |  | 17797525 |

---

160 *See Notes To Financial Statements*

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **WEST VIRGINIA - 0.2%** |  |  |  |
| $400000 | West Virginia Housing Development Fund, Housing Finance Revenue Bonds, Social Series 2024D | 5.000% | 11/01/27 | $420665 |
| 500000 | West Virginia Housing Development Fund, Housing Finance Revenue Bonds, Social Series 2024D | 5.000 | 11/01/28 | 533574 |
|  | TOTAL WEST VIRGINIA |  |  | 954239 |
|  | **WISCONSIN - 3.6%** |  |  |  |
| 625000 | Kenosha, Wisconsin, General Obligation Promissory Notes Series 2020A | 2.000 | 05/01/25 | 624109 |
| 1250000 | Kenosha, Wisconsin, General Obligation Promissory Notes Series 2021B | 1.000 | 10/01/25 | 1230926 |
| 400000 | Public Finance Authority of Wisconsin, Health Care Facilities Revenue Bonds, Blue Ridge HealthCare, Refunding Series 2020A | 5.000 | 01/01/26 | 404528 |
| 300000 | Public Finance Authority of Wisconsin, Hospital Revenue Bonds, Carson Valley Medical Center, Series 2021A | 3.000 | 12/01/26 | 288223 |
| 325000 | Public Finance Authority of Wisconsin, Hospital Revenue Bonds, Renown Regional Medical Center Project, Series 2020A | 5.000 | 06/01/26 | 330197 |
| 1970000 | Public Finance Authority of Wisconsin, Pollution Control Revenue Bonds, Duke Energy Progress Project, Refunding Series 2022A-2, (Mandatory Put 10/01/26) | 3.300 | 10/01/46 | 1970547 |
| 600000 | Racine Unified School District, Racine County, Wisconsin, General Obligation Bonds, Refunding Series 2021 | 2.000 | 04/01/25 | 600000 |
| 1300000 | Racine, Racine County, Wisconsin, General Obligation Bonds, Promissory Notes Series 2025 | 4.500 | 03/15/27 | 1316003 |
| 1000000 | University of Wisconsin Hospitals and Clinics Authority, Revenue Bonds, Sustainability Series 2024A | 5.000 | 04/01/27 | 1041289 |
| 1360000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, Mercy Alliance, Inc., Series 2012 | 5.000 | 06/01/27 | 1363952 |
| 435000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, PHW Muskego, Inc. Project, Series 2021 | 5.000 | 10/01/25 | 436120 |
| 455000 | Wisconsin Health and Educational Facilities Authority, Revenue Bonds, PHW Muskego, Inc. Project, Series 2021 | 5.000 | 10/01/26 | 458225 |
| 250000 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Agnesian HealthCare, Inc., Series 2017 | 5.000 | 07/01/26 | 255225 |
| 2070000 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Froedtert Health, Inc. Obligated Group, Series 2017A | 5.000 | 04/01/25 | 2070000 |
| 460000 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, PHM / New Richmond Senior Housing, Inc., Refunding Series 2021 | 2.250 | 07/01/26 | 443826 |
| 350000 | Wisconsin Health and Educational Facilities Authority, Wisconsin, Revenue Bonds, Saint John's Communities Inc., Refunding Series 2021B | 4.000 | 09/15/25 | 349411 |
| 1755000 | Wisconsin State, General Obligation Bonds, Refunding Series 2024-2 | 5.000 | 05/01/28 | 1872111 |
|  | TOTAL WISCONSIN |  |  | 15054692 |
|  | **WYOMING - 0.1%** |  |  |  |
| 500000 | Consolidated Wyoming Municipalities Electric Power System Joint Powers Board, Wyoming, Electric Facilities Improvement Lease Revenue Bonds, Gillette Electrical System Project, Refunding Series 2022 | 5.000 | 06/01/26 | 511511 |
|  | TOTAL WYOMING |  |  | 511511 |
|  | **TOTAL MUNICIPAL BONDS<br>(Cost $408,484,176)** |  |  | **409677602** |
|  | **TOTAL LONG-TERM INVESTMENTS<br>(Cost $408,484,176)** |  |  | **409677602** |

---

See Notes To Financial Statements 161

------

Portfolio of Investments March 31, 2025 (continued)

Short Term

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **PRINCIPAL** | **DESCRIPTION** | **RATE** | **MATURITY** | **VALUE** |
|  | **SHORT-TERM INVESTMENTS - 0.1%** |  |  |  |
|  | **MUNICIPAL BONDS - 0.1%** |  |  |  |
|  | **NEW YORK - 0.1%** |  |  |  |
| $500000 (e) | New York City Municipal Water Finance Authority, New York, Water and Sewer System Second General Resolution Revenue Bonds, Fiscal 2014 Adjustable Rate Series AA-2 | 3.550% | 06/15/50 | $500000 |
|  | TOTAL NEW YORK |  |  | 500000 |
|  | **TOTAL MUNICIPAL BONDS<br>(Cost $500,000)** |  |  | **500000** |
|  | **TOTAL SHORT-TERM INVESTMENTS<br>(Cost $500,000)** |  |  | **500000** |
|  | **TOTAL INVESTMENTS - 99.4%<br>(Cost $408,984,176)** |  |  | **410177602** |
|  | **OTHER ASSETS & LIABILITIES, NET - 0.6%** |  |  | **2291564** |
|  | **NET ASSETS - 100%** |  |  | $**412469166** |

---

AMT Alternative Minimum Tax

ETM Escrowed to maturity

(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 reporting period, the aggregate value of these securities is $3,897,674 or 1.0% of Total Investments.

(b) 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.

(c) When-issued or delayed delivery security.

(d) Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.

(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.

162 *See Notes To Financial Statements*

------

## Statement of Assets and Liabilities

---

| | | | | |
|:---|:---|:---|:---|:---|
| **March 31, 2025** | **All-American** | **Intermediate**<br> **Duration** | **Limited Term** | **Short Term** |
|  **ASSETS** |  |  |  |  |
|  Long-term investments, at value<sup>†</sup> | $3901263161 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7492161337 | $4609537260 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;409677602 |
|  Affiliated investments, at value<sup>++</sup> | 17376590 | 1861777 |  |  |
|  Short-term investments, at value<sup>◇</sup> | 76275000 | 7350000 |  | 500000 |
|  Cash |  |  |  |  |
|  Receivables: | 18621310 | 2917842 |  | 253356 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest | 52527527 | 88517021 | 53994501 | 5331562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments sold | 42348205 | 34274866 | 9629292 | 504219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Reimbursement from Adviser | 3983 | 386 |  | 26525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares sold | 1803898 | 5495365 | 2209554 | 280128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sale of Vistra Vision interest<sup>#(1)</sup> | 26465822 | 98084942 | 103528301 | 815152 |
|  Other | 377434 | 503873 | 364385 | 72759 |
|  **Total assets** | **4137062930** | **7731167409** | **4779263293** | **417461303** |
|  **LIABILITIES** |  |  |  |  |
|  Borrowings |  |  | 35013850 |  |
|  Floating rate obligations | 178160000 |  |  |  |
|  Payables: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Management fees | 1349150 | 2512178 | 1411267 | 138082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | 2125583 | 4556492 | 2101813 | 189397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest | 1391865 | 23469 | 39382 | 1457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments purchased - regular settlement | 5876468 | 1077335 |  | 2114317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments purchased - when-issued/delayed-delivery settlement | 31625763 | 40496870 | 4974003 | 1232947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shares redeemed | 8086860 | 16078944 | 6794685 | 1136723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Vistra Vision sale transactions costs(1) | 624441 | 2314239 | 2442671 | 19233 |
|  Accrued expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Custodian fees | 204449 | 282684 | 233354 | 29209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Directors/Trustees fees | 300067 | 447561 | 319694 | 32471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Professional fees | 20652 | 32185 | 23654 | 7653 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholder reporting expenses | 83991 | 124187 | 145271 | 21187 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Shareholder servicing agent fees | 346063 | 680523 | 719525 | 33408 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12b-1 distribution and service fees | 403527 | 147868 | 152020 | 36053 |
|  **Total liabilities** | **230598879** | **68774535** | **54371189** | **4992137** |
|  **Commitments and contingencies<sup>(2)</sup>** |  |  |  |  |
|  **Net assets** | $**3906464051** | $**7662392874** | $**4724892104** | $**412469166** |
|  **NET ASSETS CONSIST OF:** |  |  |  |  |
|  Paid-in capital | $4971624657 | $8152135105 | $4933090321 | $428373230 |
|  Total distributable earnings (loss) | (1065160606) | (489742231) | (208198217) | (15904064) |
|  **Net assets** | $**3906464051** | $**7662392874** | $**4724892104** | $**412469166** |
|  <sup>†</sup> Long-term investments, cost | $3905293117 | $7827973183 | $4740483723 | $408484176 |
|  <sup>++</sup> Affiliated investments, cost | $17677750 | $1893750 | $– | $- |
|  <sup>◇</sup> Short-term investments, cost | $76275000 | $7350000 | $– | $500000 |
|  <sup>#</sup> Net of discount of | $1917846 | $7107725 | $7502178 | $59070 |

---

(1) Refer to Note 4 of the Notes to Financial Statements for more information.

(2) As disclosed in Notes to Financial Statements.

---

| |
|:---|
| *See Notes to Financial Statements* |
| **163** |

---

------

Statement of Assets and Liabilities(continued)

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **All-American** | **Intermediate**<br> **Duration** | **Limited Term** | **Short Term** |
|  **CLASS A:** |  |  |  |  |
|  Net assets | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1836003319 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;719633430 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790405679 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185521101 |
|  Shares outstanding | 184247598 | 82416742 | 72763799 | 18856372 |
|  Net asset value ("NAV") per share | $9.96 | $8.73 | $10.86 | $9.84 |
|  Maximum sales charge | 4.20% | 3.00% | 2.50% | 2.50% |
|  Offering price per share (NAV per share plus maximum sales charge) | $10.40 | $9.00 | $11.14 | $10.09 |
|  **CLASS C:** |  |  |  |  |
|  Net assets | $101989756 | $27984814 | $18998203 | $5272817 |
|  Shares outstanding | 10236622 | 3203512 | 1756705 | 537970 |
|  NAV and offering price per share | $9.96 | $8.74 | $10.81 | $9.80 |
|  **CLASS R6:** |  |  |  |  |
|  Net assets | $131342110 | $– | $– | $– |
|  Shares outstanding | 13115533 |  |  |  |
|  NAV and offering price per share | $10.01 | $– | $– | $– |
|  **CLASS I:** |  |  |  |  |
|  Net assets | $1837128866 | $6914774630 | $3915488222 | $221675248 |
|  Shares outstanding | 183582857 | 789425982 | 362005926 | 22496530 |
|  NAV and offering price per share | $10.01 | $8.76 | $10.82 | $9.85 |
|  Authorized shares – per class | Unlimited | Unlimited | Unlimited | 2 billion |
|  Par value per share | $0.01 | $0.01 | $0.01 | $0.0001 |

---

---

| |
|:---|
| *See Notes to Financial Statements* |
| **164** |

---

------

## Statement of Operations

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Year Ended March 31, 2025** | **All-American** | **Intermediate**<br> **Duration** | **Limited Term** | **Short Term** |
|  **INVESTMENT INCOME** |  |  |  |  |
|  Dividends | $205878 | $763003 | $805347 | $6341 |
|  Dividends from affiliated investments | 26700 |  |  |  |
|  Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201260205 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;278066722 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156589085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14689731 |
|  Total investment income | 201492783 | 278829725 | 157394432 | 14696072 |
|  **EXPENSES** |  |  |  |  |
|  Management fees | 16753404 | 29279118 | 17688420 | 1700078 |
|  12b-1 service fees - Class A | 3936844 | 1493969 | 1720657 | 370101 |
|  12b-1 distribution and service fees - Class C | 1196506 | 310939 | 244509 | 65194 |
|  Shareholder servicing agent fees - Class A | 707376 | 269171 | 496750 | 62503 |
|  Shareholder servicing agent fees - Class C | 43743 | 11220 | 14092 | 2242 |
|  Shareholder servicing agent fees - Class R6 | 6653 |  |  |  |
|  Shareholder servicing agent fees - Class I | 704040 | 2466406 | 2438628 | 81607 |
|  Interest expense | 6853732 | 389336 | 433467 | 124354 |
|  Directors/Trustees fees | 160968 | 293242 | 196275 | 15804 |
|  Custodian expenses, net | 146633 | 207093 | 204203 |  |
|  Registration fees | 189878 | 192542 | 134552 | 81123 |
|  Professional fees | 160595 | 181737 | 140436 | 56167 |
|  Shareholder reporting expenses | 102537 | 150192 | 173318 | 47800 |
|  Other | 72079 | 113797 | 103245 | 13432 |
|  Total expenses before fee waiver/expense reimbursement | 31034988 | 35358762 | 23988552 | 2620405 |
|  Fee waiver/expense reimbursement |  |  |  | (334842) |
|  Net expenses | 31034988 | 35358762 | 23988552 | 2285563 |
|  **Net investment income (loss)** | **170457795** | **243470963** | **133405880** | **12410509** |
|  **REALIZED AND UNREALIZED GAIN (LOSS)** |  |  |  |  |
|  Realized gain (loss) from: |  |  |  |  |
|  Investments | 14063844 | 96690623 | 114264389 | 589338 |
|  Swap contracts | (12697298) | (47047762) | (49666044) |  |
|  Net realized gain (loss) | 1366546 | 49642861 | 64598345 | 589338 |
|  Change in unrealized appreciation (depreciation) on: |  |  |  |  |
|  Investments | (98207547) | (157884974) | (99978823) | 1462162 |
|  Affiliated investments | (301160) | (31973) |  |  |
|  Net change in unrealized appreciation (depreciation) | (98508707) | (157916947) | (99978823) | 1462162 |
|  Net realized and unrealized gain (loss) | (97142161) | (108274086) | (35380478) | 2051500 |
|  **Net increase (decrease) in net assets from operations** | $**73315634** | $**135196877** | $**98025402** | $**14462009** |

---

---

| |
|:---|
| *See Notes to Financial Statements* |
| **165** |

---

------

## Statement of Changes in Net Assets

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **All-American** | **All-American** | **Intermediate Duration** | **Intermediate Duration** |
|  | **Year Ended**<br> **3/31/25** | **Year Ended**<br> **3/31/24** | **Year Ended**<br> **3/31/25** | **Year Ended**<br> **3/31/24** |
|  **OPERATIONS** |  |  |  |  |
|  Net investment income (loss) | $170457795 | $175376105 | $243470963 | $227129030 |
|  Net realized gain (loss) | 1366546 | (91835604) | 49642861 | (17799446) |
|  Net change in unrealized appreciation (depreciation) | (98508707) | 103471917 | (157916947) | 61108367 |
|  Net increase (decrease) in net assets from operations | 73315634 | 187012418 | 135196877 | 270437951 |
|  **DISTRIBUTIONS TO SHAREHOLDERS** |  |  |  |  |
|  Dividends: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (76635222) | (77478579) | (22409276) | (21426253) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | (3714821) | (4596286) | (678338) | (735396) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class R6 | (5490382) | (5378353) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (80835437) | (83046460) | (219001552) | (196958818) |
|  Total distributions | (166675862) | (170499678) | (242089166) | (219120467) |
|  **FUND SHARE TRANSACTIONS** |  |  |  |  |
|  Subscriptions | 797338410 | 1162622143 | 1992487176 | 2877479354 |
|  Reinvestments of distributions | 140824897 | 141848650 | 187632826 | 163284231 |
|  Redemptions | (1288486105) | (1769907578) | (1825307273) | (3679304446) |
|  Net increase (decrease) from Fund share transactions | (350322798) | (465436785) | 354812729 | (638540861) |
|  Net increase (decrease) in net assets | (443683026) | (448924045) | 247920440 | (587223377) |
|  Net assets at the beginning of period | 4350147077 | 4799071122 | 7414472434 | 8001695811 |
|  **Net assets at the end of period** | $**3906464051** | $**4350147077** | $**7662392874** | $**7414472434** |

---

---

| |
|:---|
| *See Notes to Financial Statements* |
| **166** |

---

------

## &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Limited Term** | **Limited Term** | **Short Term** | **Short Term** |
|  | **Year Ended**<br> **3/31/25** | **Year Ended**<br> **3/31/24** | **Year Ended**<br> **3/31/25** | **Year Ended**<br> **3/31/24** |
|  **OPERATIONS** |  |  |  |  |
|  Net investment income (loss) | $133405880 | $134298404 | $12410509 | $13409402 |
|  Net realized gain (loss) | 64598345 | 6938785 | 589338 | (8047661) |
|  Net change in unrealized appreciation (depreciation) | (99978823) | 15989795 | 1462162 | 6990375 |
|  Net increase (decrease) in net assets from operations | 98025402 | 157226984 | 14462009 | 12352116 |
|  **DISTRIBUTIONS TO SHAREHOLDERS** |  |  |  |  |
|  Dividends: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (21888542) | (21407552) | (5217884) | (5270277) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | (429893) | (510719) | (129875) | (140698) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (116835869) | (107973321) | (7152465) | (7561502) |
|  Total distributions | (139154304) | (129891592) | (12500224) | (12972477) |
|  **FUND SHARE TRANSACTIONS** |  |  |  |  |
|  Subscriptions | 1109047713 | 1184973189 | 148665351 | 160557673 |
|  Reinvestments of distributions | 112696325 | 100480056 | 10056647 | 9763888 |
|  Redemptions | (1685090763) | (2850663025) | (244382912) | (372508339) |
|  Net increase (decrease) from Fund share transactions | (463346725) | (1565209780) | (85660914) | (202186778) |
|  Net increase (decrease) in net assets | (504475627) | (1537874388) | (83699129) | (202807139) |
|  Net assets at the beginning of period | 5229367731 | 6767242119 | 496168295 | 698975434 |
|  **Net assets at the end of period** | $**4724892104** | $**5229367731** | $**412469166** | $**496168295** |

---

---

| |
|:---|
| *See Notes to Financial Statements* |
| **167** |

---

------

## Financial Highlights
The following data is for a share outstanding for each fiscal year end unless otherwise noted:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Investment Operations** | **Investment Operations** | | **Less Distributions** | **Less Distributions** | **Less Distributions** | |
|  | **Net Asset**<br> **Value,<br>Beginning**<br> **of Period** | **Net<br>Investment<br>Income (NII)**<br> (Loss)<sup>(a)</sup> | **Net<br>Realized/<br>Unrealized<br>Gain (Loss)** | **Total** | **From<br>NII** | **From<br>Net Realized**<br> **Gains** | **Total** | **Net Asset**<br> **Value,<br>End of**<br> **Period** |
|  **All-American** |  |  |  |  |  |  |  |  |
|  **Class A** |  |  |  |  |  |  |  |  |
| 3/31/25 | $10.20 | $0.41 | $(0.25) | $0.16 | $(0.40) | $– | $(0.40) | $9.96 |
| 3/31/24 | 10.13 | 0.38 | 0.06 | 0.44 | (0.37) |  | (0.37) | 10.20 |
| 3/31/23 | 11.08 | 0.36 | (0.97) | (0.61) | (0.34) |  | (0.34) | 10.13 |
| 3/31/22 | 12.09 | 0.34 | (1.01) | (0.67) | (0.34) |  | (0.34) | 11.08 |
| 3/31/21 | 11.49 | 0.35 | 0.62 | 0.97 | (0.37) |  | (0.37) | 12.09 |
|  **Class C** |  |  |  |  |  |  |  |  |
| 3/31/25 | 10.20 | 0.32 | (0.24) | 0.08 | (0.32) |  | (0.32) | 9.96 |
| 3/31/24 | 10.13 | 0.30 | 0.06 | 0.36 | (0.29) |  | (0.29) | 10.20 |
| 3/31/23 | 11.08 | 0.28 | (0.98) | (0.70) | (0.25) |  | (0.25) | 10.13 |
| 3/31/22 | 12.09 | 0.24 | (1.01) | (0.77) | (0.24) |  | (0.24) | 11.08 |
| 3/31/21 | 11.48 | 0.26 | 0.62 | 0.88 | (0.27) |  | (0.27) | 12.09 |
|  **Class R6** |  |  |  |  |  |  |  |  |
| 3/31/25 | 10.25 | 0.43 | (0.24) | 0.19 | (0.43) |  | (0.43) | 10.01 |
| 3/31/24 | 10.18 | 0.41 | 0.06 | 0.47 | (0.40) |  | (0.40) | 10.25 |
| 3/31/23 | 11.14 | 0.38 | (0.98) | (0.60) | (0.36) |  | (0.36) | 10.18 |
| 3/31/22 | 12.16 | 0.37 | (1.02) | (0.65) | (0.37) |  | (0.37) | 11.14 |
| 3/31/21 | 11.55 | 0.38 | 0.62 | 1.00 | (0.39) |  | (0.39) | 12.16 |
|  **Class I** |  |  |  |  |  |  |  |  |
| 3/31/25 | 10.24 | 0.43 | (0.24) | 0.19 | (0.42) |  | (0.42) | 10.01 |
| 3/31/24 | 10.18 | 0.40 | 0.05 | 0.45 | (0.39) |  | (0.39) | 10.24 |
| 3/31/23 | 11.13 | 0.38 | (0.97) | (0.59) | (0.36) |  | (0.36) | 10.18 |
| 3/31/22 | 12.14 | 0.37 | (1.02) | (0.65) | (0.36) |  | (0.36) | 11.13 |
| 3/31/21 | 11.54 | 0.38 | 0.61 | 0.99 | (0.39) | – | (0.39) | 12.14 |

---

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Total returns are at NAV and do not include any sales charge. Total returns are not annualized. 

<sup>(c)</sup> The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on borrowings, as described in Notes to Financial Statements. 

**168**

------

## &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** |
| | | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | |
| | **Net** | | | | |
| | **Assets,** | **Expenses** | **Expenses** | | **Portfolio** |
| **Total** | **End of** | **Including** | **Excluding** | **NII** | **Turnover** |
| **Return<sup>(b)</sup>** | **Period (000)** | **Interest<sup>(c)</sup>** | **Interest** | **(Loss)** | **Rate** |
| 1.53% | $1836003 | 0.82% | 0.66% | 3.99% | 33% |
| 4.47 | 2057942 | 0.76 | 0.67 | 3.81 | 59 |
| (5.48) | 2207643 | 0.82 | 0.66 | 3.50 | 47 |
| (5.76) | 3012154 | 0.70 | 0.64 | 2.80 | 27 |
| 8.51 | 3154428 | 0.69 | 0.66 | 2.98 | 19 |
| 0.74 | 101990 | 1.62 | 1.46 | 3.19 | 33 |
| 3.68 | 138312 | 1.56 | 1.47 | 3.00 | 59 |
| (6.26) | 184011 | 1.62 | 1.46 | 2.70 | 47 |
| (6.54) | 265767 | 1.50 | 1.44 | 2.00 | 27 |
| 7.73 | 293333 | 1.49 | 1.46 | 2.18 | 19 |
| 1.82 | 131342 | 0.59 | 0.43 | 4.23 | 33 |
| 4.71 | 137329 | 0.53 | 0.44 | 4.04 | 59 |
| (5.30) | 142935 | 0.58 | 0.42 | 3.74 | 47 |
| (5.58) | 159516 | 0.47 | 0.41 | 3.04 | 27 |
| 8.79 | 114355 | 0.45 | 0.42 | 3.19 | 19 |
| 1.86 | 1837129 | 0.62 | 0.46 | 4.20 | 33 |
| 4.60 | 2016564 | 0.56 | 0.47 | 4.00 | 59 |
| (5.23) | 2264482 | 0.62 | 0.46 | 3.69 | 47 |
| (5.55) | 4249974 | 0.50 | 0.44 | 3.00 | 27 |
| 8.69 | 4281209 | 0.49 | 0.45 | 3.17 | 19 |

---

---

| |
|:---|
| *See Notes to Financial Statements* |
| **169** |

---

------

Financial Highlights (continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Investment Operations** | **Investment Operations** | | **Less Distributions** | **Less Distributions** | **Less Distributions** | |
|  | **Net Asset**<br> **Value,<br>Beginning**<br> **of Period** | **Net<br>Investment<br>Income (NII)**<br> (Loss)<sup>(a)</sup> | **Net<br>Realized/<br>Unrealized<br>Gain (Loss)** | **Total** | **From<br>NII** | **From<br>Net<br>Realized**<br> **Gains** | **Total** | **Net Asset**<br> **Value,<br>End of**<br> **Period** |
|  **Intermediate Duration** |  |  |  |  |  |  |  |  |
|  **Class A** |  |  |  |  |  |  |  |  |
| 3/31/25 | $8.85 | $0.27 | $(0.12) | $0.15 | $(0.27) | $– | $(0.27) | $8.73 |
| 3/31/24 | 8.77 | 0.25 | 0.07 | 0.32 | (0.24) |  | (0.24) | 8.85 |
| 3/31/23 | 9.05 | 0.21 | (0.29) | (0.08) | (0.20) |  | (0.20) | 8.77 |
| 3/31/22 | 9.57 | 0.18 | (0.52) | (0.34) | (0.18) |  | (0.18) | 9.05 |
| 3/31/21 | 9.26 | 0.20 | 0.33 | 0.53 | (0.22) |  | (0.22) | 9.57 |
|  **Class C** |  |  |  |  |  |  |  |  |
| 3/31/25 | 8.85 | 0.20 | (0.12) | 0.08 | (0.19) |  | (0.19) | 8.74 |
| 3/31/24 | 8.77 | 0.18 | 0.07 | 0.25 | (0.17) |  | (0.17) | 8.85 |
| 3/31/23 | 9.06 | 0.14 | (0.30) | (0.16) | (0.13) |  | (0.13) | 8.77 |
| 3/31/22 | 9.57 | 0.10 | (0.51) | (0.41) | (0.10) |  | (0.10) | 9.06 |
| 3/31/21 | 9.26 | 0.13 | 0.32 | 0.45 | (0.14) |  | (0.14) | 9.57 |
|  **Class I** |  |  |  |  |  |  |  |  |
| 3/31/25 | 8.88 | 0.29 | (0.13) | 0.16 | (0.28) |  | (0.28) | 8.76 |
| 3/31/24 | 8.80 | 0.26 | 0.08 | 0.34 | (0.26) |  | (0.26) | 8.88 |
| 3/31/23 | 9.08 | 0.23 | (0.30) | (0.07) | (0.21) |  | (0.21) | 8.80 |
| 3/31/22 | 9.60 | 0.20 | (0.52) | (0.32) | (0.20) |  | (0.20) | 9.08 |
| 3/31/21 | 9.29 | 0.22 | 0.33 | 0.55 | (0.24) | – | (0.24) | 9.60 |

---

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Total returns are at NAV and do not include any sales charge. Total returns are not annualized. 

<sup>(c</sup>) The Fund has a contractual fee waiver/expense reimbursement agreement with the Adviser, but did not receive a fee waiver/expense reimbursement during the periods presented herein. See Notes to Financial Statements for more information.

<sup>(d)</sup> The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on borrowings, as described in Notes to Financial Statements. 

**170**

------

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** |
| | | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | |
| | **Net** | | | | |
| | **Assets,** | **Expenses** | **Expenses** | | **Portfolio** |
| **Total** | **End of** | **Including** | **Excluding** | **NII** | **Turnover** |
| **Return<sup>(b)</sup>** | **Period (000)** | **Interest<sup>(c)</sup><sup>,(d)</sup>** | **Interest<sup>(c)</sup>** | **(Loss)<sup>(c)</sup>** | **Rate** |
| 1.65% | $719633 | 0.64% | 0.63% | 3.01% | 27% |
| 3.70 | 765602 | 0.65 | 0.65 | 2.82 | 24 |
| (0.90) | 845566 | 0.65 | 0.64 | 2.38 | 21 |
| (3.66) | 940178 | 0.63 | 0.63 | 1.87 | 26 |
| 5.79 | 967315 | 0.64 | 0.64 | 2.12 | 18 |
| 0.94 | 27985 | 1.45 | 1.44 | 2.21 | 27 |
| 2.86 | 34831 | 1.45 | 1.45 | 2.02 | 24 |
| (1.80) | 43566 | 1.45 | 1.44 | 1.58 | 21 |
| (4.34) | 55713 | 1.43 | 1.43 | 1.07 | 26 |
| 4.93 | 65566 | 1.44 | 1.44 | 1.33 | 18 |
| 1.85 | 6914775 | 0.44 | 0.43 | 3.21 | 27 |
| 3.90 | 6614040 | 0.45 | 0.45 | 3.02 | 24 |
| (0.67) | 7112564 | 0.45 | 0.44 | 2.57 | 21 |
| (3.46) | 8785900 | 0.43 | 0.43 | 2.06 | 26 |
| 5.97 | 9315167 | 0.44 | 0.44 | 2.32 | 18 |

---

---

| |
|:---|
| *See Notes to Financial Statements* |
| **171** |

---

------

Financial Highlights (continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Investment Operations** | **Investment Operations** | | **Less Distributions** | **Less Distributions** | **Less Distributions** | **Less Distributions** | |
|  | **Net Asset**<br> **Value,<br>Beginning**<br> **of Period** | **Net<br>Investment<br>Income**<br> (NII)<br> (Loss)<sup>(a)</sup> | **Net<br>Realized/<br>Unrealized<br>Gain (Loss)** | **Total** | **From<br>NII** | **From<br>Net Realized**<br> **Gains** | **Return**<br> **of**<br> **Capital** | **Total** | **Net Asset**<br> **Value,<br>End of**<br> **Period** |
|  **Limited Term** |  |  |  |  |  |  |  |  |  |
|  **Class A** |  |  |  |  |  |  |  |  |  |
| 3/31/25 | $10.95 | $0.27 | $(0.08) | $0.19 | $(0.28) | $– | $– | $(0.28) | $10.86 |
| 3/31/24 | 10.87 | 0.24 | 0.07 | 0.31 | (0.23) |  |  | (0.23) | 10.95 |
| 3/31/23 | 10.92 | 0.16 | (0.08) | 0.08 | (0.13) |  |  | (0.13) | 10.87 |
| 3/31/22 | 11.32 | 0.12 | (0.40) | (0.28) | (0.12) |  |  | (0.12) | 10.92 |
| 3/31/21 | 11.02 | 0.15 | 0.35 | 0.50 | (0.19) |  | (0.01) | (0.20) | 11.32 |
|  **Class C** |  |  |  |  |  |  |  |  |  |
| 3/31/25 | 10.91 | 0.18 | (0.09) | 0.09 | (0.19) |  |  | (0.19) | 10.81 |
| 3/31/24 | 10.82 | 0.15 | 0.08 | 0.23 | (0.14) |  |  | (0.14) | 10.91 |
| 3/31/23 | 10.88 | 0.07 | (0.08) | (0.01) | (0.05) |  |  | (0.05) | 10.82 |
| 3/31/22 | 11.27 | 0.03 | (0.39) | (0.36) | (0.03) |  |  | (0.03) | 10.88 |
| 3/31/21 | 10.98 | 0.06 | 0.34 | 0.40 | (0.10) |  | (0.01) | (0.11) | 11.27 |
|  **Class I** |  |  |  |  |  |  |  |  |  |
| 3/31/25 | 10.91 | 0.29 | (0.08) | 0.21 | (0.30) |  |  | (0.30) | 10.82 |
| 3/31/24 | 10.82 | 0.26 | 0.08 | 0.34 | (0.25) |  |  | (0.25) | 10.91 |
| 3/31/23 | 10.88 | 0.18 | (0.08) | 0.10 | (0.16) |  |  | (0.16) | 10.82 |
| 3/31/22 | 11.28 | 0.14 | (0.40) | (0.26) | (0.14) |  |  | (0.14) | 10.88 |
| 3/31/21 | 10.98 | 0.17 | 0.35 | 0.52 | (0.21) | – | (0.01) | (0.22) | 11.28 |

---

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Total returns are at NAV and do not include any sales charge. Total returns are not annualized. 

<sup>(c)</sup> The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on borrowings, as described in Notes to Financial Statements. 

**172**

------

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** |
| | | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | |
| | **Net** | | | | |
| | **Assets,** | **Expenses** | **Expenses** | | **Portfolio** |
| **Total** | **End of** | **Including** | **Excluding** | **NII** | **Turnover** |
| **Return<sup>(b)</sup>** | **Period (000)** | **Interest<sup>(c)</sup>** | **Interest** | **(Loss)** | **Rate** |
| 1.74% | $790406 | 0.63% | 0.62% | 2.45% | 27% |
| 2.89 | 928083 | 0.63 | 0.63 | 2.19 | 22 |
| 0.77 | 1152357 | 0.61 | 0.60 | 1.45 | 33 |
| (2.55) | 1523484 | 0.59 | 0.59 | 1.05 | 28 |
| 4.55 | 1597780 | 0.61 | 0.61 | 1.31 | 18 |
| 0.86 | 18998 | 1.43 | 1.42 | 1.64 | 27 |
| 2.17 | 31105 | 1.43 | 1.43 | 1.38 | 22 |
| (0.11) | 49258 | 1.41 | 1.40 | 0.65 | 33 |
| (3.25) | 70792 | 1.39 | 1.39 | 0.26 | 28 |
| 3.64 | 88543 | 1.41 | 1.41 | 0.53 | 18 |
| 1.96 | 3915488 | 0.43 | 0.42 | 2.65 | 27 |
| 3.20 | 4270180 | 0.43 | 0.43 | 2.38 | 22 |
| 0.90 | 5565627 | 0.41 | 0.40 | 1.65 | 33 |
| (2.35) | 6860653 | 0.39 | 0.39 | 1.25 | 28 |
| 4.76 | 6172134 | 0.41 | 0.41 | 1.51 | 18 |

---

---

| |
|:---|
| *See Notes to Financial Statements* |
| **173** |

---

------

Financial Highlights (continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | | **Investment Operations** | **Investment Operations** | | **Less Distributions** | **Less Distributions** | **Less Distributions** | **Less Distributions** |
|  | **Net Asset**<br> **Value,<br>Beginning**<br> **of Period** | **Net<br>Investment<br>Income (NII)**<br> (Loss)<sup>(a)</sup> | **Net<br>Realized/<br>Unrealized<br>Gain (Loss)** | **Total** | **From<br>NII** | **From<br>Net Realized**<br> **Gains** | **Total** | **Net Asset**<br> **Value,<br>End of**<br> **Period** |
|  **Short Term** |  |  |  |  |  |  |  |  |
|  **Class A** |  |  |  |  |  |  |  |  |
| 3/31/25 | $9.80 | $0.27 | $0.05 | $0.32 | $(0.28) | $– | $(0.28) | $9.84 |
| 3/31/24 | 9.79 | 0.22 | 0.01 | 0.23 | (0.22) |  | (0.22) | 9.80 |
| 3/31/23 | 9.82 | 0.12 | (0.05) | 0.07 | (0.10) |  | (0.10) | 9.79 |
| 3/31/22 | 10.18 | 0.08 | (0.36) | (0.28) | (0.08) |  | (0.08) | 9.82 |
| 3/31/21 | 10.03 | 0.11 | 0.18 | 0.29 | (0.14) |  | (0.14) | 10.18 |
|  **Class C** |  |  |  |  |  |  |  |  |
| 3/31/25 | 9.76 | 0.19 | 0.05 | 0.24 | (0.20) |  | (0.20) | 9.80 |
| 3/31/24 | 9.76 | 0.14 |  | 0.14 | (0.14) |  | (0.14) | 9.76 |
| 3/31/23 | 9.79 | 0.04 | (0.04) |  | (0.03) |  | (0.03) | 9.76 |
| 3/31/22 | 10.15 | (–)<sup>(e)</sup> | (0.36) | (0.36) | (–)<sup>(e)</sup> |  |  | 9.79 |
| 3/31/21 | 10.00 | 0.03 | 0.18 | 0.21 | (0.06) |  | (0.06) | 10.15 |
|  **Class I** |  |  |  |  |  |  |  |  |
| 3/31/25 | 9.81 | 0.29 | 0.05 | 0.34 | (0.30) |  | (0.30) | 9.85 |
| 3/31/24 | 9.81 | 0.24 |  | 0.24 | (0.24) |  | (0.24) | 9.81 |
| 3/31/23 | 9.84 | 0.14 | (0.05) | 0.09 | (0.12) |  | (0.12) | 9.81 |
| 3/31/22 | 10.19 | 0.10 | (0.35) | (0.25) | (0.10) |  | (0.10) | 9.84 |
| 3/31/21 | 10.04 | 0.13 | 0.18 | 0.31 | (0.16) | – | (0.16) | 10.19 |

---

<sup>(a)</sup> Based on average shares outstanding.

<sup>(b)</sup> Total returns are at NAV and do not include any sales charge. Total returns are not annualized. 

<sup>(c)</sup> The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on borrowings, as described in Notes to Financial Statements. 

<sup>(d)</sup> After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Notes to Financial Statements for more information.

<sup>(e</sup>) Value rounded to zero.

**174**

------

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

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** | **Ratio/Supplemental Data** |
| | | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | **Ratios to Average Net Assets** | |
| | **Net** | **Gross** | **Gross** | **Net** | **Net** | | |
| | **Assets,** | **Expenses** | **Expenses** | **Expenses** | **Expenses** | | **Portfolio** |
| **Total** | **End of** | **Including** | **Excluding** | **Including** | **Excluding** | **NII** | **Turnover** |
| **Return<sup>(b)</sup>** | **Period (000)** | **Interest<sup>(c)</sup>** | **Interest** | **Interest<sup>(c),(d)</sup>** | **Interest<sup>(d)</sup>** | **(Loss)<sup>(d)</sup>** | **Rate** |
| 3.28% | $185521 | 0.71% | 0.68% | 0.63% | 0.60% | 2.79% | 29% |
| 2.36 | 205142 | 0.72 | 0.71 | 0.72 | 0.71 | 2.27 | 41 |
| 0.77 | 281531 | 0.69 | 0.69 | 0.69 | 0.69 | 1.20 | 52 |
| (2.80) | 277719 | 0.67 | 0.67 | 0.67 | 0.67 | 0.77 | 37 |
| 2.90 | 329109 | 0.68 | 0.68 | 0.68 | 0.68 | 1.08 | 38 |
| 2.45 | 5273 | 1.51 | 1.48 | 1.43 | 1.40 | 1.99 | 29 |
| 1.43 | 8102 | 1.52 | 1.51 | 1.52 | 1.51 | 1.46 | 41 |
| 0.00 <sup>(e)</sup> | 13160 | 1.49 | 1.49 | 1.49 | 1.49 | 0.41 | 52 |
| (3.50) | 12359 | 1.47 | 1.47 | 1.47 | 1.47 | (0.02) | 37 |
| 2.08 | 16519 | 1.48 | 1.48 | 1.48 | 1.48 | 0.29 | 38 |
| 3.48 | 221675 | 0.51 | 0.48 | 0.43 | 0.40 | 2.99 | 29 |
| 2.44 | 282925 | 0.52 | 0.51 | 0.52 | 0.51 | 2.45 | 41 |
| 0.98 | 404284 | 0.49 | 0.49 | 0.49 | 0.49 | 1.39 | 52 |
| (2.51) | 447376 | 0.47 | 0.47 | 0.47 | 0.47 | 0.97 | 37 |
| 3.10 | 469157 | 0.48 | 0.48 | 0.48 | 0.48 | 1.28 | 38 |

---

---

| |
|:---|
| *See Notes to Financial Statements* |
| **175** |

---

------

## Notes to Financial Statements
**1.** **General Information** 

**Trust and Fund Information:** Nuveen Municipal Trust and Nuveen Investment Funds, Inc. (each a "Trust" and collectively, the "Trusts"), are open-end management investment companies registered under the Investment Company Act of 1940, (the "1940 Act"), as amended. Nuveen Municipal Trust is comprised of Nuveen All-American Municipal Bond Fund ("All-American"), Nuveen Intermediate Duration Municipal Bond Fund ("Intermediate Duration") and Nuveen Limited Term Municipal Bond Fund ("Limited Term"), among others, and Nuveen Investment Funds, Inc. is comprised of Nuveen Short Term Municipal Bond Fund ("Short Term"), among others, (each a "Fund" and collectively, the "Funds"). Nuveen Municipal Trust was organized as a Massachusetts business trust on July 1, 1996. Nuveen Investment Funds, Inc. was incorporated in the State of Maryland on August 20, 1987. The Funds, were each organized as a series of predecessor trusts or corporations prior to that date.

**Current Fiscal Period:** The end of the reporting period for the Funds is March 31, 2025, and the period covered by these Notes to Financial Statements is the fiscal year ended March 31, 2025 (the "current fiscal period").

**Investment Adviser and Sub-Adviser:** The Funds' investment adviser, Nuveen Fund Advisors, LLC (the "Adviser"), is a subsidiary of Nuveen, LLC ("Nuveen"). Nuveen is the investment management arm of Teachers Insurance and Annuity Association of America (TIAA). The Adviser has overall responsibility for management of the Funds, oversees the management of the Funds' portfolios, manages the Funds' business affairs and provides certain clerical, bookkeeping and other administrative services, and, if necessary, asset allocation decisions. The Adviser has entered into sub- advisory agreements with Nuveen Asset Management, LLC (the "Sub-Adviser"), a subsidiary of the Adviser, under which the Sub-Adviser manages the investment portfolios of the Funds.

**Share Classes and Sales Charges:** Class A Shares are generally sold with an up-front sales charge. Class A Shares purchases of $250,000 or more are sold at net asset value ("NAV") without an up-front sales charge but may be subject to a contingent deferred sales charge ("CDSC") of 1% (0.70% for Limited Term and Short Term) if redeemed within eighteen months (twelve months for Short Term) of purchase. Class C Shares are sold without an up-front sales charge. Class C Shares are subject to a CDSC of 1% if redeemed within twelve months of purchase. Class C Shares automatically convert to Class A Shares eight years after purchase. Class R6 Shares and Class I Shares are sold without an up-front sales charge.

**2.** **Significant Accounting Policies** 

The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"), which may require the use of estimates made by management and the evaluation of subsequent events. Actual results may differ from those estimates. Each Fund is an investment company and follows accounting guidance in the Financial Accounting Standards Board ("FASB") Accounting Standards Codification 946, Financial Services — Investment Companies. The NAV for financial reporting purposes may differ from the NAV for processing security and shareholder transactions. The NAV for financial reporting purposes includes security and common share transactions through the date of the report. Total return is computed based on the NAV used for processing security and common share transactions. The following is a summary of the significant accounting policies consistently followed by the Funds.

**Compensation:** Neither Trust pays compensation directly to those of its officers, all of whom receive remuneration for their services to each Trust from the Adviser or its affiliates. The Funds' Board of Directors/Trustees (the ''Board'') has adopted a deferred compensation plan for independent directors/trustees that enables directors/trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds.

**Custodian Fee Credit:** As an alternative to overnight investments, each Fund has an arrangement with its custodian bank, State Street Bank and Trust Company, (the "Custodian") whereby certain custodian fees and expenses are reduced by net credits earned on each Fund's cash on deposit with the bank. Credits for cash balances may be offset by charges for any days on which a Fund overdraws its account at the Custodian. The amount of custodian fee credit earned by a Fund is recognized on the Statement of Operations as a component of "Custodian expenses, net." During the current reporting period, the custodian fee credit earned by each Fund was as follows:

---

| | |
|:---|:---|
| **Fund** | **Gross<br>Custodian Fee**<br> **Credits** |
|  **All-American** | $217189 |
|  **Intermediate Duration** | 331847 |
|  **Limited Term** | 233344 |
|  **Short Term** | 67606 |

---

**Distributions to Shareholders:** Distributions to shareholders are recorded on the ex-dividend date. The amount, character and timing of distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

**Indemnifications:** Under each Trust's organizational documents, its officers and directors/trustees are indemnified against certain liabilities arising out of the performance of their duties to each Trust. In addition, in the normal course of business, each Trust enters into contracts that provide general indemnifications to other parties. Each Trust's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against each Trust that have not yet occurred. However, each Trust has not had prior claims or losses pursuant to these contracts and expects the risk of loss to be remote.

**176**

------

**Investments and Investment Income:** Securities transactions are accounted for as of the trade date for financial reporting purposes. Realized gains and losses on securities transactions are based upon the specific identification method. Investment Income, is comprised of interest income, which is recorded on an accrual basis and includes accretion of discounts and amortization of premiums for financial reporting purposes. Investment income also reflects payment-in-kind ("PIK") interest and paydown gains and losses, if any. PIK interest represents income received in the form of securities in lieu of cash. Dividend income is recorded on the ex-dividend date.

**Multiclass Operations and Allocations:** Income and expenses of the Funds that are not directly attributable to a specific class of shares are prorated among the classes based on the relative value of the settled shares of each class. Expenses directly attributable to a class of shares are recorded to the specific class. 12b-1 distribution and service fees are allocated on a class-specific basis.

Sub-transfer agent fees and similar fees, which are recognized as a component of "Shareholder servicing agent fees" on the Statement of Operations, are not charged to Class R6 Shares and are prorated among the other classes based on their relative settled shares.

Realized and unrealized capital gains and losses of the Funds are prorated among the classes based on the relative net assets of each class.

**Netting Agreements:** In the ordinary course of business, the Funds may enter into transactions subject to enforceable International Swaps and Derivatives Association, Inc. (ISDA) master agreements or other similar arrangements ("netting agreements"). Generally, the right to offset in netting agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when applicable, as well as any collateral received or delivered to that counterparty based on the terms of the agreements. Generally, each Fund manages its cash collateral and securities collateral on a counterparty basis. With respect to certain counterparties, in accordance with the terms of the netting agreements, collateral posted to the Funds is held in a segregated account by the Funds' custodian and/or with respect to those amounts which can be sold or repledged, are presented in the Funds' Portfolio of Investments or Statement of Assets and Liabilities.

The Funds' investments subject to netting agreements as of the end of the reporting period, if any, are further described later in these Notes to Financial Statements.

**Segment Reporting:** In November 2023, the FASB issued Accounting Standard Update ("ASU") No. 2023-07, Segment Reporting (Topic 280) Improvements to Reportable Segment Disclosures ("ASU 2023-07"). The amendments in ASU 2023-07 improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 also requires a public entity that has a single reportable segment to provide all the disclosures required by the amendments in ASU 2023-07 and all existing segment disclosures in Topic 280. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. The Funds adopted ASU 2023-07 during the current reporting period. Adoption of the new standard impacted financial statement disclosures only and did not affect the Funds' financial positions or the results of their operations.

The officers of the Funds act as the chief operating decision maker ("CODM"). Each Fund represents a single operating segment. The CODM monitors the operating results of each Fund as a whole and is responsible for each Fund's long-term strategic asset allocation in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a team. The financial information in the form of the Fund's portfolio composition, total returns, expense ratios and changes in net assets (i.e., changes in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess the segment's performance versus the Fund's comparative benchmarks and to make resource allocation decisions for the Fund's single segment, is consistent with that presented within the Fund's financial statements. Segment assets are reflected on the Statement of Assets and Liabilities as "total assets" and significant segment revenues and expenses are listed on the Statement of Operations.

**New Accounting Pronouncement**: In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) Improvements to Income tax disclosures ("ASU 2023-09"). The primary purpose of the amendments within ASU 2023-09 is to enhance the transparency and decision usefulness of income tax disclosures primarily related to the rate reconciliation table and income taxes paid information. The amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Management is currently evaluating the implications of these changes on the financial statements.

**3.** **Investment Valuation and Fair Value Measurements** 

The Funds' investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Adviser, subject to oversight of the Board. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management's assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).

Level 3 – Prices are determined using significant unobservable inputs (including management's assumptions in determining the fair value of investments).

**177**

------

Notes to Financial Statements (continued)

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

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

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

A description of the valuation techniques applied to the Funds' major classifications of assets and liabilities measured at fair value follows:

Equity securities and exchange-traded funds listed or traded on a national market or exchange are valued based on their last reported sales price or official closing price of such market or exchange on the valuation date. Foreign equity securities and registered investment companies that trade on a foreign exchange are valued at the last reported sales price or official closing price on the principal exchange where traded, and converted to U.S. dollars at the prevailing rates of exchange on the valuation date. For events affecting the value of foreign securities between the time when the exchange on which they are traded closes and the time when the Funds' net assets are calculated, such securities will be valued at fair value in accordance with procedures adopted by the Adviser, subject to the oversight of the Board. To the extent these securities are actively traded and no valuation adjustments are applied, they are generally classified as Level 1. When valuation adjustments are applied to the most recent last sales price or official closing price, these securities are generally classified as Level 2.

Prices of fixed-income securities are generally provided by pricing services approved by the Adviser, which is subject to review by the Adviser and oversight of the Board. Pricing services establish a security's fair value using methods that may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor's credit characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, pricing services may consider information about a security, its issuer or market activity provided by the Adviser. These securities are generally classified as Level 2.

For any portfolio security or derivative for which market quotations are not readily available or for which the Adviser deems the valuations derived using the valuation procedures described above not to reflect fair value, the Adviser will determine a fair value in good faith using alternative procedures approved by the Adviser, subject to the oversight of the Board. As a general principle, the fair value of a security is the amount that the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor's credit characteristics considered relevant. To the extent the inputs are observable and timely, the values would be classified as Level 2; otherwise they would be classified as Level 3.

The following table summarizes the market value of the Funds' investments as of the end of the reporting period, based on the inputs used to value them:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **All-American** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Long-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exchange-Traded Funds | $17376590 | $– | $– | $17376590 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds |  | 3901244883 | 18246 | 3901263129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable Rate Senior Loan Interests |  |  | 32 | 32 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds |  | 76275000 |  | 76275000 |
| Total | $17376590 | $3977519883 | $18278 | $3994914751 |
| **Intermediate Duration** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Long-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Exchange-Traded Funds | $1861777 | $– | $– | $1861777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-Backed Securities |  | 35671742 |  | 35671742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds |  | 7454546719 | 1257 | 7454547976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Variable Rate Senior Loan Interests |  |  | 1941619 | 1941619 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds |  | 7350000 |  | 7350000 |
| Total | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1861777 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7497568461 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1942876 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7501373114 |
| **Limited Term** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Long-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | $– | $4609537260 | $– | $4609537260 |
| Total | $– | $4609537260 | $– | $4609537260 |
| **Short Term** | **Level 1** | **Level 2** | **Level 3** | **Total** |
| Long-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds | $– | $409677602 | $– | $409677602 |
| Short-Term Investments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Bonds |  | 500000 |  | 500000 |
| Total | $– | $410177602 | $– | $410177602 |

---

------

The Funds hold liabilities in floating rate obligations, where applicable, which are not reflected in the tables above. The fair values of the Funds' liabilities for floating rate obligations approximate their liquidation values. Floating rate obligations are generally classified as Level 2 and further described in these Notes to Financial Statements. The Funds, where applicable, have a receivable for the sale of their interest in Vistra Vision, which is not reflected in the tables above. The carrying value of this receivable approximates fair value. The "Receivable for sale of Vistra Vision interest" is generally classified as Level 2 and further described in these Notes to Financial Statements.

**4.** **Portfolio Securities** 

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.

An investment in a self-deposited Inverse Floater is accounted for as a "financing" transaction (i.e., a secured borrowing). For a self-deposited Inverse Floater, the Underlying Bond deposited into the TOB Trust is identified in the Fund's Portfolio of Investments as "(UB) – Underlying bond of an inverse floating rate trust reflected as a financing transaction," with the Fund recognizing as liabilities, labeled "Floating rate obligations" on the Statement of Assets and Liabilities, (a) the liquidation value of Floaters issued by the TOB Trust, and (b) the amount of any borrowings by the TOB Trust from a Liquidity Provider to enable the TOB Trust to purchase outstanding Floaters in lieu of a remarketing. In addition, the Fund recognizes in "Investment Income" the entire earnings of the Underlying Bond, and recognizes (a) the interest paid to the holders of the Floaters or on the TOB Trust's borrowings, and (b) other expenses related to remarketing, administration, trustee, liquidity and other services to a TOB Trust, as a component of "Interest expense" on the Statement of Operations. Earnings due from the Underlying Bond and interest due to the holders of the Floaters as of the end of the reporting period are recognized as components of "Receivable for interest" and "Payable for interest" on the Statement of Assets and Liabilities, respectively.

In contrast, an investment in an externally-deposited Inverse Floater is accounted for as a purchase of the Inverse Floater and is identified in the Fund's Portfolio of Investments as "(IF) – Inverse floating rate investment." For an externally-deposited Inverse Floater, a Fund's Statement of Assets and Liabilities recognizes the Inverse Floater and not the Underlying Bond as an asset, and the Fund does not recognize the Floaters, or any related borrowings from a Liquidity Provider, as a liability. Additionally, the Fund reflects in "Investment Income" only the net amount of earnings on the Inverse Floater (net of the interest paid to the holders of the Floaters or the Liquidity Provider as lender, and the expenses of the Trust), and does not show the amount of that interest paid or the expenses of the TOB Trust as described above as interest expense on the Statement of Operations.

Fees paid upon the creation of a TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters are recognized as part of the cost basis of the Inverse Floater and are capitalized over the term of the TOB Trust.

As of the end of the reporting 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:

**179**

------

Notes to Financial Statements (continued)

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

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Floating Rate<br> Obligations: Self-**<br> **Deposited**<br> **Inverse Floaters** | **Floating Rate<br>Obligations:**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Externally-Deposited**<br> **Inverse Floaters** | **Total** |
|  **All-American** | $178160000 | $– $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178160000 |
|  **Intermediate Duration** |  | – |  |
|  **Limited Term** |  | – |  |
|  **Short Term** |  | – |  |

---

During the current fiscal period, the average amount of Floaters (including any borrowings from a Liquidity Provider) outstanding, and the average annual interest rates and fees related to self-deposited Inverse Floaters, were as follows:

---

| | | |
|:---|:---|:---|
| **Fund** | **Average Floating<br>Rate Obligations<br>Outstanding** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Average Annual**<br> **Interest Rate**<br> **And Fees** |
|  **All-American** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;174098342 | 3.68% |
|  **Intermediate Duration** |  |  |
|  **Limited Term** |  |  |
|  **Short Term** |  |  |

---

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 reporting period, there were no loans outstanding under any such facility.

Each Fund may also enter into shortfall and forbearance agreements (sometimes referred to as a "recourse arrangement") (TOB Trusts involving such agreements are referred to herein as "Recourse Trusts"), under which a Fund agrees to reimburse the Liquidity Provider for the Trust's Floaters, in certain circumstances, for the amount (if any) by which the liquidation value of the Underlying Bond held by the TOB Trust may fall short of the sum of the liquidation value of the Floaters issued by the TOB Trust plus any amounts borrowed by the TOB Trust from the Liquidity Provider, plus any shortfalls in interest cash flows (sometimes referred to as "shortfall payments"). Under these agreements, a Fund's potential exposure to losses related to or on an Inverse Floater may increase beyond the value of the Inverse Floater as a Fund may potentially be liable to fulfill all amounts owed to holders of the Floaters or the Liquidity Provider. Any such shortfall amount in the aggregate is recognized as "Unrealized depreciation on Recourse Trusts" on the Statement of Assets and Liabilities.

As of the end of the reporting period, the Funds maximum exposure to the Floaters issued by Recourse Trusts for self-deposited Inverse Floaters and externally-deposited Inverse Floaters was as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maximum Exposure**<br> **to Recourse Trusts:**<br> **Self-Deposited**<br> **Inverse Floaters** | **Maximum Exposure to<br>Recourse Trusts:**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Externally-Deposited**<br> **Inverse Floaters** | **Total** |
|  **All-American** | $178160000 | $– $| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;178160000 |
|  **Intermediate Duration** |  | – |  |
|  **Limited Term** |  | – |  |
|  **Short Term** |  | – |  |

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------

**Zero Coupon Securities:** A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices of securities that pay interest periodically.

**Purchases and Sales:** Long-term purchases and sales during the current fiscal period were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Non-U.S.**<br> **Government<br>Purchases** | **U.S.**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government**<br> **Purchases** | **Non-U.S.**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government Sales**<br> **and Maturities** | **U.S.**<br> **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Government**<br> **Sales** |
| All-American | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1404643257 | $– | $1713184484 | $84916250 |
| Intermediate Duration | 2327164508 | 18225208 | 2000020747 | 98341 |
| Limited Term | 1358179613 |  | 1886061991 |  |
| Short Term | 121973098 |  | 191035719 |  |

---

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 reporting period, such amounts are recognized on the Statement of Assets and Liabilities.

**Sale of Vistra Vision interests:** On September 18, 2024, Vistra Corp. ("Vistra") and Nuveen agreed to terms for the sale of the Vistra Vision interest. In exchange for its interest in Vistra Vision, the Funds agreed to receive proceeds from the sale over a series of payments from Vistra through December 31, 2026. The resulting receivables have been discounted using an effective interest rate of 6.18%. The receivable, net of discount, and related transaction costs are recognized as "Receivable for sale of Vistra Vision interest" and "Payable for Vistra Vision sale transactions costs," respectively, on the Statement of Assets and Liabilities. During the current fiscal period, All-American, Intermediate Duration and Limited Term sold their interest back to Vistra and recognized a realized gain of $29,652,299, $106,804,258 and $114,037,754, respectively, which is recognized as "Realized gain (loss) from investments" on the Statement of Operations.

**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.

**Total Return Swap Contracts:** During the current fiscal period, All-American, Intermediate Duration and Limited Term used total return swaps to help manage the equity risk of the portfolio's Vistra Vision exposure.

In a total return swap, one party agrees to pay the other the total return of a defined underlying asset during a specified period, in return for periodic payments based on a fixed or variable interest rate or the total return from other underlying assets. A total return swap may be applied to any underlying asset but is most commonly used with equity indices, single stocks, bonds and defined baskets of loans and mortgages. The Fund entered into a total return swap involving an underlying index or basket of securities to create exposure to a number of securities in a single trade. An index total return swap can be used by the Fund to assume risk, without the complications of buying the component securities from what may not always be the most liquid of markets.

Total return swap contracts are valued daily. Changes in the value of a total return swap during the fiscal period are recognized as a component of "Change in net unrealized appreciation (depreciation) of swaps" and realized gains and losses are recognized as a component of "Net realized gain (loss) from swaps" on the Statement of Operations.

For over-the-counter ("OTC") swaps, the daily change in market value of the swap contract, along with any daily interest accrued, are recognized as components of "Unrealized appreciation or depreciation on credit default swaps" on the Statement of Assets and Liabilities.

The average notional amount of Total Return swap contracts outstanding during the current fiscal period was as follows:

---

| | |
|:---|:---|
| **Fund** | **Average Notional Amount of Swap Contracts**<br> **Outstanding\*** |
| All-American | $27784341 |
| Intermediate Duration | 102972729 |
| Limited Term | 108686114 |

---

\* The average notional amount is calculated based on the absolute aggregate notional amount of contracts outstanding from August 7, 2024 (first swap contract entered) through October 7, 2024 (last swap contract exited). 

During the current fiscal period, the effect of derivative contracts on the Funds' Statements of Operations was as follows:

**181**

------

Notes to Financial Statements (continued)

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

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

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

---

| | | | |
|:---|:---|:---|:---|
| **Derivative Instrument** | **Risk Exposure** | **Net Realized Gain**<br> (Loss) | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** |
| All-American |  |  |  |
| Swap contracts | Equity | $(12697298) | $– |
| Intermediate Duration |  |  |  |
| Swap contracts | Equity | (47047762) |  |
| Limited Term |  |  |  |
| Swap contracts | Equity | (49666044) |  |

---

**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** 

Transactions in Fund shares during the current and prior fiscal period were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended**<br>**3/31/25** | **Year Ended**<br>**3/31/25** | **Year Ended**<br>**3/31/24** | **Year Ended**<br>**3/31/24** |
| **All-American** | **Shares** | **Amount** | **Shares** | **Amount** |
| Subscriptions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | 27065412 | $275543562 | 37262791 | $373159788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A - automatic conversion of Class C | 22648 | 231220 | 28908 | 291107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | 1064843 | 10849623 | 1731478 | 17353965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class R6 | 4467976 | 45570171 | 6180993 | 62290659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 45536377 | 465143834 | 70473592 | 709526624 |
| Total subscriptions | 78157256 | 797338410 | 115677762 | 1162622143 |
| Reinvestments of distributions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | 6634435 | 67369635 | 6813019 | 68245392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | 339725 | 3449481 | 419342 | 4200920 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class R6 | 349075 | 3561863 | 331976 | 3342089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 6516561 | 66443918 | 6567293 | 66060249 |
| Total reinvestments of distributions | 13839796 | 140824897 | 14131630 | 141848650 |
| Redemptions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (51321621) | (521779549) | (60198945) | (602317593) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | (4710751) | (47899211) | (6715183) | (67211631) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C - automatic conversion to Class A | (22651) | (231220) | (28906) | (291107) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class R6 | (5098971) | (52021380) | (7151412) | (71528151) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (65387885) | (666554745) | (102645050) | (1028559096) |
| Total redemptions | (126541879) | (1288486105) | (176739496) | (1769907578) |
| Net increase (decrease) | (34544827) | $(350322798) | (46930104) | $(465436785) |

---

**182**

------

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended**<br>**3/31/25** | **Year Ended**<br>**3/31/25** | **Year Ended**<br>**3/31/24** | **Year Ended**<br>**3/31/24** |
| **Intermediate Duration** | **Shares** | **Amount** | **Shares** | **Amount** |
| Subscriptions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | 13669407 | $120899844 | 16963876 | $147643884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A - automatic conversion of Class C | 4223 | 37298 | 1138 | 9832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | 588891 | 5228313 | 789810 | 6875934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 210209139 | 1866321721 | 314575041 | 2722949704 |
| Total subscriptions | 224471660 | 1992487176 | 332329865 | 2877479354 |
| Reinvestments of distributions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | 2169785 | 19177870 | 2149508 | 18700096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | 70805 | 626096 | 76497 | 665888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 18928356 | 167828860 | 16490930 | 143918247 |
| Total reinvestments of distributions | 21168946 | 187632826 | 18716935 | 163284231 |
| Redemptions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (19917630) | (176151754) | (29025167) | (252004258) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | (1385606) | (12272296) | (1896900) | (16476681) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C - automatic conversion to Class A | (4219) | (37298) | (1138) | (9832) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (184597812) | (1636845925) | (394568193) | (3410813675) |
| Total redemptions | (205905267) | (1825307273) | (425491398) | (3679304446) |
| Net increase (decrease) | 39735339 | $354812729 | (74444598) | $(638540861) |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended**<br>**3/31/25** | **Year Ended**<br>**3/31/25** | **Year Ended**<br>**3/31/24** | **Year Ended**<br>**3/31/24** |
| **Limited Term** | **Shares** | **Amount** | **Shares** | **Amount** |
| Subscriptions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | 7166218 | $78488579 | 11583419 | $125341404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A - automatic conversion of Class C | 12635 | 138977 | 27265 | 295381 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | 134396 | 1462823 | 285014 | 3059727 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 94351024 | 1028957334 | 98097315 | 1056276677 |
| Total subscriptions | 101664273 | 1109047713 | 109993013 | 1184973189 |
| Reinvestments of distributions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | 1707797 | 18689391 | 1695792 | 18327836 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | 38121 | 415361 | 45249 | 486941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 8588672 | 93591573 | 7587637 | 81665279 |
| Total reinvestments of distributions | 10334590 | 112696325 | 9328678 | 100480056 |
| Redemptions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (20853814) | (228249071) | (34628735) | (374143867) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | (1254630) | (13689773) | (2002915) | (21534143) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C - automatic conversion to Class A | (12689) | (138977) | (27366) | (295381) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (132399838) | (1443012942) | (228484336) | (2454689634) |
| Total redemptions | (154520971) | (1685090763) | (265143352) | (2850663025) |
| Net increase (decrease) | (42522108) | $(463346725) | (145821661) | $(1565209780) |

---

**183**

------

Notes to Financial Statements (continued)

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Year Ended**<br>**3/31/25** | **Year Ended**<br>**3/31/25** | **Year Ended**<br>**3/31/24** | **Year Ended**<br>**3/31/24** |
| **Short Term** | **Shares** | **Amount** | **Shares** | **Amount** |
| Subscriptions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | 5116424 | $50356150 | 5250725 | $51073731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A - automatic conversion of Class C |  |  | 2 | 22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | 174234 | 1705425 | 292202 | 2835652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 9820001 | 96603776 | 10906602 | 106648268 |
| Total subscriptions | 15110659 | &nbsp;&nbsp;&nbsp;&nbsp;148665351 | 16449531 | 160557673 |
| Reinvestments of distributions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | 463905 | 4561207 | 477194 | 4653169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | 11613 | 113723 | 12466 | 121114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | 546577 | 5381717 | 510955 | 4989605 |
|  Total reinvestments of distributions | 1022095 | 10056647 | 1000615 | 9763888 |
|  Redemptions: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class A | (7664895) | (75334245) | (13534884) | (132015979) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C | (478065) | (4680899) | (823533) | (8014946) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class C - automatic conversion to Class A |  |  | (2) | (22) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Class I | (16709914) | (164367768) | (23808707) | (232477392) |
| Total redemptions | (24852874) | (244382912) | (38167126) | (372508339) |
| Net increase (decrease) | (8720120) | $(85660914) | (20716980) | $(202186778) |

---

**7.** **Income Tax Information** 

Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and net capital gains to shareholders and otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies. Therefore, no federal income tax provision is required.

Each Fund intends to satisfy conditions that will enable interest from municipal securities, which is exempt from regular federal income tax, to retain such tax-exempt status when distributed to shareholders of the Funds. Net realized capital gains and ordinary income distributions paid by the Funds are subject to federal taxation.

Each Fund files income tax returns in U.S. federal and applicable state and local jurisdictions. A Fund's federal income tax returns are generally subject to examination for a period of three fiscal years after being filed. State and local tax returns may be subject to examination for an additional period of time depending on the jurisdiction. Management has analyzed each Fund's tax positions taken for all open tax years and has concluded that no provision for income tax is required in the Fund's financial statements.

Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing gains and losses on investment transactions. Temporary differences do not require reclassification. As of year end, permanent differences that resulted in reclassifications among the components of net assets relate primarily to taxable market discount and treatment of notional principal contracts. Temporary and permanent differences have no impact on a Fund's net assets.

As of year end, the aggregate cost and the net unrealized appreciation/(depreciation) of all investments for federal income tax purposes were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Fund** | **Tax Cost** | **Gross Unrealized<br>Appreciation** | **Gross**<br> **Unrealized**<br> (Depreciation) | **Net**<br> **Unrealized<br>Appreciation<br>(Depreciation)** |
| All-American | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3816003175 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87573858 | $(86822512) | $751346 |
| Intermediate Duration | 7829266431 | 68007295 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(395900612) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(327893317) |
| Limited Term | 4737936876 | 32730970 | (161130586) | (128399616) |
| Short Term | 409018218 | 1918251 | (758867) | 1159384 |

---

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 year end, the components of accumulated earnings on a tax basis were as follows:

**184**

------

## &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Fund** | **Undistributed<br>Tax-Exempt**<br> **Income<sup>1</sup>** | **Undistributed**<br> **Ordinary**<br> **Income** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Undistributed**<br> **Long-Term<br>Capital Gains** | **Unrealized**<br> **Appreciation**<br> (Depreciation) | **Capital Loss<br>Carryforwards** | **&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Late-Year Loss**<br> **Deferrals** | **Other<br> Book-to-Tax<br>Differences** | **Total** |
| All-American | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20998360 | $841130 | $– | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;751346 | $(1073867302) | $– | $(13884140) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1065160606) |
| Intermediate Duration | 30763855 | 2073818 |  | (327893317) | (173863747) |  | (20822840) | (489742231) |
| Limited Term | 23824107 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2078471 |  | (128399615) | (94190323) |  | (11510857) | (208198217) |
| Short Term | 2380903 | 14802 | – | 1159384 | (18374352) | – | (1084801) | (15904064) |

---

<sup>1</sup> Undistributed tax-exempt income (on a tax basis) has not been reduced for the dividends declared during the period March 1, 2025 through March 31, 2025 and paid on April 1, 2025.

The tax character of distributions paid was as follows:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **3/31/25** | **3/31/25** | **3/31/25** | **3/31/24** | **3/31/24** | **3/31/24** |
| **Fund** | **Tax-Exempt**<br> **Income<sup>1</sup>** | **Ordinary<br>Income** | **Long-Term<br>Capital Gains** | **Tax-Exempt**<br> **Income** | **Ordinary<br>Income** | **Long-Term<br>Capital Gains** |
| All-American | $163511540 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3164322 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;– | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;170071720 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427958 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;– |
| Intermediate Duration | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;233954500 | 8134666 |  | 218817422 | 303045 |  |
| Limited Term | 131052380 | 8101924 |  | 129600605 | 290987 |  |
| Short Term | 12444845 | 55379 | – | 12972477 | – | – |

---

<sup>1</sup> Each Fund designates these amounts paid during the period as Exempt Interest Dividends. 

As of year end, the Funds had capital loss carryforwards, which will not expire:

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Short-Term** | **Long-Term** | **Total** |
| All-American<sup>1</sup> | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;534814943 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;539052359 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1073867302 |
| Intermediate Duration | 135477649 | 38386098 | 173863747 |
| Limited Term | 92243546 | 1946777 | 94190323 |
| Short Term | 2491880 | 15882472 | 18374352 |

---

<sup>1</sup> A portion of All-American's capital loss carryforward is subject to an annual limitation under the Internal Revenue Code and related regulations.

As of year end, the Funds utilized the following capital loss carryforwards:

---

| | |
|:---|:---|
| **Fund** | **Utilized** |
| All-American | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4017582 |
| Intermediate Duration | 42231288 |
| Limited Term | 56458852 |
| Short Term | 520021 |

---

**8.** **Management Fees and Other Transactions with Affiliates** 

**Management Fees:** Each Fund's management fee compensates the Adviser for the overall investment advisory and administrative services and general office facilities. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser.

Each Fund's management fee consists of two components – a fund-level fee, based only on the amount of assets within each individual Fund, and a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables each Fund's shareholders to benefit from growth in the assets within their respective Fund as well as from growth in the amount of complex-wide assets managed by the Adviser.

**185**

------

Notes to Financial Statements (continued)

The annual fund-level fee, payable monthly, for each Fund was calculated according to the following schedule:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Daily Net Assets** | **All-<br>American** | **Intermediate**<br> **Duration** | **Limited**<br> **Term** | **Short Term** |
| For the first $125 million | 0.3000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.3000% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.2500% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.2500% |
| For the next $125 million | 0.2875 | 0.2875 | 0.2375 | 0.2375 |
| For the next $250 million | 0.2750 | 0.2750 | 0.2250 | 0.2250 |
| For the next $500 million | 0.2625 | 0.2625 | 0.2125 | 0.2125 |
| For the next $1 billion | 0.2500 | 0.2500 | 0.2000 | 0.2000 |
| For the next $3 billion | 0.2250 | 0.2250 | 0.1750 | 0.1750 |
| For the next $5 billion | 0.2000 | 0.2000 | 0.1500 | 0.1500 |
| For net assets over $10 billion and greater | 0.1875 | 0.1875 | 0.1375 | 0.1375 |

---

For the period April 1, 2024 through April 30, 2024, the annual complex-level fee, payable monthly, for each Fund was calculated according to the following schedule:

---

| | |
|:---|:---|
| **Complex-Level Eligible Asset Breakpoint Level\*** | **Effective Complex-Level Fee Rate at Breakpoint Level** |
| $55 billion | 0.2000% |
| $56 billion | 0.1996 |
| $57 billion | 0.1989 |
| $60 billion | 0.1961 |
| $63 billion | 0.1931 |
| $66 billion | 0.1900 |
| $71 billion | 0.1851 |
| $76 billion | 0.1806 |
| $80 billion | 0.1773 |
| $91 billion | 0.1691 |
| $125 billion | 0.1599 |
| $200 billion | 0.1505 |
| $250 billion | 0.1469 |
| $300 billion | 0.1445 |

---

\* The complex-level fee is calculated based upon the aggregate daily "eligible assets" of all Nuveen open-end and closed-end funds. Eligible assets do not include assets attributable to investments in other Nuveen funds or assets in excess of a determined amount (originally $2 billion) added to the Nuveen fund complex in connection with the Adviser's assumption of the management of the former First American Funds effective January 1, 2011, but do include certain assets of certain Nuveen funds that were reorganized into funds advised by an affiliate of the Adviser during the 2019 calendar year. Eligible assets include closed-end fund assets managed by the Adviser that are attributable to certain types of leverage. For these purposes, 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. 

Effective May 1, 2024, the annual complex-level fee, payable monthly, for each Fund is calculated according to the following schedule:

---

| | |
|:---|:---|
| **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 |

---

\* The complex-level fee is calculated based upon the aggregate daily "eligible assets" of all Nuveen-branded closed-end funds and Nuveen branded open-end funds ("Nuveen Mutual Funds"). Except as described below, eligible assets include the assets of all Nuveen-branded closed-end funds and Nuveen Mutual Funds organized in the United States. Eligible assets do not include the net assets of: Nuveen fund-of-funds, Nuveen money market funds, Nuveen index funds, Nuveen Large Cap Responsible Equity Fund or Nuveen Life Large Cap Responsible Equity Fund. In addition, eligible assets include a fixed percentage of the aggregate net assets of the active equity and fixed income Nuveen Mutual Funds advised by the Adviser's affiliate, Teachers Advisors, LLC (except those identified above). The fixed percentage will increase annually until May 1, 2033, at which time eligible assets will include all of the aggregate net assets of the active equity and fixed income Nuveen Mutual Funds advised by Teachers Advisors, LLC (except those identified above). Eligible assets include closed-end fund assets managed by the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes the closed-end funds' use of preferred stock and borrowings and certain investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining eligible assets in certain circumstances. 

As of March 31, 2025, the complex-level fee rate for the Fund was as follows:

**186**

------

---

| | |
|:---|:---|
| **Fund** | **Complex-Level Fee** |
| **All-American** | 0.1580% |
| **Intermediate Duration** | 0.1580% |
| **Limited Term** | 0.1580% |
| **Short Term** | 0.1580% |

---

The Adviser has agreed to waive fees and/or reimburse expenses ("Expense Cap") of the following Funds so that the total annual Fund operating expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and disposing of portfolio securities and extraordinary expenses) do not exceed the average daily net assets of any class of Fund shares in the amounts and for the time periods stated in the following table. The expense limitation expiring on July 31, 2026, may be terminated or modified prior to the date only with the approval of the Board.

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Temporary<br>Expense Cap** | **Temporary<br>Expense Cap<br>Expiration Date** | **Permanent<br>Expense<br>Cap** |
| Intermediate Duration | N/A | N/A | 0.75% |
| Short Term<sup>1</sup> | 0.45% | 7/31/2026 | N/A |

---

N/A - Not Applicable.

1 Effective May 1, 2024.

**Distribution and Service Fees:** Each Fund has adopted a distribution and service plan under rule 12b-1 under the 1940 Act. Class A Shares incur a 0.20% annual 12b-1 service fee. Class C Shares incur a 0.75% annual 12b-1 distribution fee and a 0.25% annual 12b-1 service fee. Class R6 and Class I Shares are not subject to 12b-1 distribution or service fees. The fees under this plan compensate Nuveen Securities, LLC, (the "Distributor"), a wholly-owned subsidiary of Nuveen, for services provided and expenses incurred in distributing shares of the Funds and establishing and maintaining shareholder accounts.

**Other Transactions with Affiliates:** 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:

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Purchases** | **Sales** | **Realized<br>Gain (Loss)** |
| All-American | $3676433 | $— | $— |
| Intermediate Duration | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22962413 |  |  |
| Limited Term | 15602427 | 3057809 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1987 |
| Short Term |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;30016905 | (9922) |

---

During the current fiscal period, the Distributor, collected sales charges on purchases of Class A Shares, the majority of which were paid out as concessions to financial intermediaries as follows:

---

| | | |
|:---|:---|:---|
| **Fund** | **Sales Charges**<br> **Collected<br>(Unaudited)** | **Paid to Financial<br>Intermediaries<br>(Unaudited)** |
| All-American | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1773485 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1735675 |
| Intermediate Duration | 527775 | 514466 |
| Limited Term | 134177 | 127987 |
| Short Term | 109321 | 108352 |

---

The Distributor also received 12b-1 service fees on Class A Shares, substantially all of which were paid to compensate financial intermediaries for providing services to shareholders relating to their investments.

During the current fiscal period, the Distributor compensated financial intermediaries directly with commission advances at the time of purchase as follows:

**187**

------

Notes to Financial Statements (continued)

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

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

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

---

| | |
|:---|:---|
| **Fund** | **Commission<br>Advances<br>(Unaudited)** |
|  **All-American** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1557604 |
|  **Intermediate Duration** | 497707 |
|  **Limited Term** | 108691 |
|  **Short Term** | 111481 |

---

To compensate for commissions advanced to financial intermediaries, all 12b-1 service and distribution fees collected on Class C Shares during the first year following a purchase are retained by the Distributor. During the current fiscal period, the Distributor retained such 12b-1 fees as follows:

---

| | |
|:---|:---|
| **Fund** | **12b-1 Fees Retained<br>(Unaudited)** |
|  **All-American** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81237 |
|  **Intermediate Duration** | 26339 |
|  **Limited Term** | 11164 |
|  **Short Term** | 4644 |

---

The remaining 12b-1 fees charged to each Fund were paid to compensate financial intermediaries for providing services to shareholders relating to their investments.

The Distributor also collected and retained CDSC on share redemptions during the current fiscal period, as follows:

---

| | |
|:---|:---|
| **Fund** | **CDSC**<br> **Retained<br>(Unaudited)** |
|  **All-American** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;117653 |
|  **Intermediate Duration** | 24136 |
|  **Limited Term** | 3100 |
|  **Short Term** | 15667 |

---

Investments in other investment companies advised by the Adviser and Nuveen Fund Advisors, LLC are deemed to be affiliated investments. Information regarding transactions with affiliated companies is as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Issue** | **Value at<br>3/31/24** | **Purchases**<br> **Cost** | **Sales<br>Proceeds** | **Realized<br>Gain (Loss)** | **Change in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Shares at<br>3/31/25** | **Value at<br>3/31/25** | **Dividend<br>Income** |
|  **All-American** |  |  |  |  |  |  |  |  |
|  **Exchange-Traded Funds** |  |  |  |  |  |  |  |  |
|  Nuveen Municipal Income ETF | $– | $17677750 | $– | $– | $(301160) | 700000 | $17376590 | $26700 |
|  Total | $– | $17677750 | $– | $– | $(301160) | 700000 | $17376590 | $26700 |
|  **Intermediate Duration** |  |  |  |  |  |  |  |  |
|  **Exchange-Traded Funds** |  |  |  |  |  |  |  |  |
|  Nuveen Municipal Income ETF |  | 1893750 |  |  | (31973) | 75000 | 1861777 |  |
|  Total | $– | $1893750 | $– | $– | $(31973) | 75000 | $1861777 | $– |

---

**9.** **Commitments and Contingencies** 

In the normal course of business, each Fund enters into a variety of agreements that may expose the Funds to some risk of loss. These could include recourse arrangements for certain TOB Trusts, which are described elsewhere in these Notes to Financial Statements. The risk of future loss arising from such agreements, while not quantifiable, is expected to be remote. As of the end of the reporting period, the Funds did not have any unfunded commitments.

**188**

------

From time to time, the Funds may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the enforcement of the Funds' rights under contracts. As of the end of the reporting period, the Funds are not subject to any material legal proceedings.

**10.** **Borrowing Arrangements** 

**Committed Line of Credit:** The Funds, along with certain funds managed by the Adviser and by an affiliate of the Adviser ("Participating Funds"), have established a 364-day, $2.700 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 2025 unless extended or renewed.

The credit facility has the following terms: 0.15% per annum on unused commitment amounts and a drawn interest rate equal to the higher of (a) OBFR (Overnight Bank Funding Rate) plus 1.20% per annum or (b) the Fed Funds Effective Rate plus 1.20% per annum on amounts borrowed. Interest expense incurred by the Participating Funds, when applicable, is recognized as a component of "Interest expense" on the Statement of Operations. Participating Funds paid administration, legal and arrangement fees, which are recognized as a component of "Interest expense" on the Statement of Operations, and along with commitment fees, have been allocated among such Participating Funds based upon the relative proportions of the facility's aggregate capacity reserved for them and other factors deemed relevant by the Adviser and the Board of each Participating Fund.

During the current period, the following Funds utilized this facility. The Funds' maximum outstanding balance during the utilization period was as follows:

---

| | |
|:---|:---|
| **Fund** | **Maximum<br>Outstanding**<br> **Balance** |
|  **All-American** | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;45000000 |
|  **Intermediate Duration** | 31000000 |
|  **Limited Term** | 39200000 |
|  **Short Term** | – |

---

During each Fund's utilization period(s) during the current fiscal period, the average daily balance outstanding and average annual interest rate on the Borrowings were as follows:

---

| | | | |
|:---|:---|:---|:---|
| **Fund** | **Utilization<br>Period (Days<br>Outstanding)** | **Average<br>Daily Balance<br>Outstanding** | **Average Annual<br>Interest Rate** |
|  **All-American** | 44 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;29004434 | 6.16% |
|  **Intermediate Duration** | 24 | 15137641 | 5.72 |
|  **Limited Term** | 49 | 19767253 | 5.89 |
|  **Short Term** | – | – | – |

---

Borrowings outstanding as of the end of the reporting period, if any, are recognized as "Borrowings" on the Statement of Assets and Liabilities.

**189**

------

## Important Tax Information
(Unaudited)

As required by the Internal Revenue Code and Treasury Regulations, certain tax information, as detailed below, must be provided to shareholders. Shareholders are advised to consult their tax advisor with respect to the tax implications of their investment. The amounts listed below may differ from the actual amounts reported on Form 1099-DIV, which will be sent to shareholders shortly after calendar year end.

#### Long-Term Capital Gains
As of year end, each Fund designates the following distribution amounts, or maximum amount allowable, as being from net long-term capital gains pursuant to Section 852(b)(3) of the Internal Revenue Code:

---

| | | |
|:---|:---|:---|
| **Fund** | **Net Long-Term<br>Capital Gains** | **Net Long-Term<br>Capital Gains** |
|  **All-American** |  | $– |
|  **Intermediate Duration** |  |  |
|  **Limited Term** |  |  |
|  **Short Term** | | – |

---

**190**

------

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

Not applicable.

------

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

Not applicable.

------

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

The aggregate remuneration paid to the directors/trustees (all of whom are independent) by the Fund is reported as "Directors/Trustees fees" on the Statement of Operations under Item 7 of this Form N-CSR.

The Fund does not pay any remuneration to its officers. The aggregate remuneration paid to Nuveen Fund Advisors, LLC, the Fund's investment adviser and an affiliate of the Fund's officers, is reported as "Management fees" on the Statement of Operations under Item 7 of this Form N-CSR.

------

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

Not applicable.

------

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

Not applicable to open-end investment companies.

------

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

Not applicable to open-end investment companies.

------

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

Not applicable to open-end investment companies.

------

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

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

------

**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.

------

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

(a) Not applicable to open-end investment companies.

(b) Not applicable to open-end investment companies.

------

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

(a) Not applicable.

(b) Not applicable.

------

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

(a)(1) Not applicable because the code of ethics is available, upon request and without charge, by calling 800-257-8787 and there were no amendments during the period covered by this report.

(a)(2) Not applicable.

---

| | |
|:---|:---|
| (a)(3) | [Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.](d923385dex99cert.htm)  |

---

(a)(4) Not applicable.

(a)(5) Not applicable.

(b) [Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002 is attached hereto.](d923385dex99906cert.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 Investment Funds, Inc.</u> 

---

| | | |
|:---|:---|:---|
| Date: June 5, 2025 | By: | /s/ Jordan M. Farris |
|  |  | Jordan M. Farris |
|  |  | Chief Administrative Officer |

---

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

---

| | | |
|:---|:---|:---|
| Date: June 5, 2025 | By: | /s/ Jordan M. Farris |
|  |  | Jordan M. Farris |
|  |  | Chief Administrative Officer<br> (principal executive officer) |
| Date: June 5, 2025 | By: | /s/ Marc Cardella |
|  |  | Marc Cardella |
|  |  | Vice President and Controller<br> (principal financial officer) |

---

## Ex-99.Cert

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

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

I, Jordan M. Farris, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen Investment Funds,
Inc.;

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

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

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

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

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

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

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

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

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

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

------

---

| | | |
|:---|:---|:---|
| Date: June 5, 2025 | By: | /s/ Jordan M. Farris |
|  |  | Jordan M. Farris |
|  |  | Chief Administrative Officer |
|  |  | (principal executive officer) |

---

------

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

I, Marc Cardella, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen Investment Funds,
Inc.;

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

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

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

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

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

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

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

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

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

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

------

---

| | | |
|:---|:---|:---|
| Date: June 5, 2025 | By: | /s/ Marc Cardella |
|  |  | Marc Cardella |
|  |  | Vice President and Controller |
|  |  | (principal financial officer) |

---

## Exhibit 99.906

**Exhibit 19(b)** 

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

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

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

In connection with the annual report of Nuveen Investment Funds, Inc. (the "Registrant") on Form N-CSR for the period ended March 31, 2025, as filed with the Securities and Exchange Commission (the "Report"), the undersigned officers of the Registrant certify that, to the best of each such officer's knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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 Registrant.

---

| | | |
|:---|:---|:---|
| Date: June 5, 2025 | By: | /s/ Jordan M. Farris |
|  |  | Jordan M. Farris |
|  |  | Chief Administrative Officer<br> (principal executive officer) |
| Date: June 5, 2025 | By: | /s/ Marc Cardella |
|  |  | Marc Cardella |
|  |  | Vice President and Controller<br> (principal financial officer) |

---