# EDGAR Filing Document

**Accession Number:** 0000737800
**File Stem:** 0001752724-25-210822
**Filing Date:** 2025-8
**Character Count:** 710908
**Document Hash:** 92f6b77449a17044b2947dd37c1a2415
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-210822.hdr.sgml**: 20250828

**ACCESSION NUMBER**: 0001752724-25-210822

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250828

**DATE AS OF CHANGE**: 20250828

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LORD ABBETT MUNICIPAL INCOME FUND INC
- **CENTRAL INDEX KEY:** 0000737800

**ORGANIZATION NAME:**
- **EIN:** 133200760
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03942
- **FILM NUMBER:** 251269570

**BUSINESS ADDRESS:**
- **STREET 1:** 30 HUDSON STREET
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302
- **BUSINESS PHONE:** 201-827-2000

**MAIL ADDRESS:**
- **STREET 1:** 30 HUDSON STREET
- **CITY:** JERSEY CITY
- **STATE:** NJ
- **ZIP:** 07302

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LORD ABBETT TAX FREE INCOME FUND INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Lord Abbett New York Tax-Free Income Fund (Series ID: S000007539)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000020595 | Class A      | LANYX           |
| C000020596 | Class C      | NYLAX           |
| C000054748 | Class F      | LNYFX           |
| C000096847 | Class I      | NYLIX           |
| C000188224 | Class F3     | LONYX           |

## Nport-Ex

![](x3_112995x1x1.jpg)

Lord Abbett<br> Quarterly Portfolio Holdings Report

Lord Abbett

Short Duration Tax Free Fund

Intermediate Tax Free Fund

National Tax Free Fund

High Income Municipal Bond Fund

Short Duration High Income Municipal Bond Fund

California Tax Free Fund

New Jersey Tax Free Fund

New York Tax Free Fund

*For the period ended June 30, 2025*

**Schedule of Investments (unaudited)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 82.28%** |  |  |  |  |  |  |
| **MUNICIPAL BONDS 82.28%** |  |  |  |  |  |  |
| **Corporate-Backed 3.37%** |  |  |  |  |  |  |
| Black Belt Energy Gas District AL | 4.00% | <sup>#(a)</sup> | 10/1/2052 | A2 | $15000000 | $15039883 |
| California Municipal Finance Authority<sup>†</sup> | 3.30% | <sup>#(a)</sup> | 2/1/2039 | A- | 4750000 | 4693872 |
| City of Farmington - Public Service Co of New Mexico | 3.90% | <sup>#(a)</sup> | 6/1/2040 | BBB | 2500000 | 2531709 |
| Indiana Finance Authority - United States Steel Corp | 4.125% |  | 12/1/2026 | BB- | 5000000 | 5017169 |
| Industrial Development Board of the City of Mobile Alabama - Alabama Power Co AL | 3.375% | <sup>#(a)</sup> | 6/1/2034 | A1 | 5000000 | 5024698 |
| Iowa Finance Authority - Howmet Aerospace Inc | 4.75% |  | 8/1/2042 | Baa1 | 2500000 | 2409171 |
| Ohio Air Quality Development Authority - American Electric Power Co Inc | 2.40% | <sup>#(a)</sup> | 12/1/2038 | BBB | 10700000 | 10064826 |
| Ohio Air Quality Development Authority - Ohio valley Electric Corp | 1.50% | <sup>#(a)</sup> | 2/1/2026 | Baa3 | 1000000 | 986130 |
| Parish of St. John the Baptist - Marathon Oil Corp LA | 2.375% | <sup>#(a)</sup> | 6/1/2037 | A2 | 4575000 | 4525644 |
| Parish of St. John the Baptist - Marathon Oil Corp LA | 4.05% | <sup>#(a)</sup> | 6/1/2037 | A2 | 4650000 | 4675735 |
| *Total* |  |  |  |  |  | 54968837 |
| **Education 6.78%** |  |  |  |  |  |  |
| California Community Choice Financing Authority | 4.621%<br> (SOFR \* .67 + 1.70% |)<sup>#</sup> | 5/1/2053 | A1 | 15000000 | 15057402 |
| California State University | 0.55% | <sup>#(a)</sup> | 11/1/2049 | Aa2 | 5000000 | 4800810 |
| Capital Trust Agency, Inc. - Renaissance Charter School Inc Series 2019 Obligated Group FL<sup>†</sup> | 4.00% |  | 6/15/2029 | NR | 850000 | 827014 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc (PSF-GTD) | 5.00% |  | 8/15/2028 | Aaa | 800000 | 846134 |
| County of Douglas - Creighton University NE | 5.00% |  | 7/1/2028 | A2 | 1000000 | 1061375 |
| County of Douglas - Creighton University NE | 5.00% |  | 7/1/2029 | A2 | 750000 | 807831 |

---

<br> *See Notes to Schedule of Investments.* 1

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |  |
| County of Douglas - Creighton University NE | 5.00% |  | 7/1/2030 | A2 | $1000000 | $1090250 |
| Illinois Finance Authority - Illinois Institute of Technology | 5.00% |  | 9/1/2028 | Ba2 | 1135000 | 1151462 |
| Illinois Finance Authority - Illinois Institute of Technology | 5.00% |  | 9/1/2029 | Ba2 | 630000 | 639402 |
| Louisiana State Citizens Property Insurance Corp. | 5.00% |  | 6/1/2026 | A1 | 6740000 | 6869633 |
| Massachusetts Development Finance Agency - President & Trustees of Williams College MA<sup>(b)</sup> | 3.30% | <sup>#(a)</sup> | 7/1/2041 | AA+ | 6000000 | 6034169 |
| New Jersey Economic Development Authority<sup>†</sup> | 5.25% |  | 9/1/2025 | A- | 10000000 | 10033896 |
| New Jersey Educational Facilities Authority - State of New Jersey | 5.00% |  | 8/1/2029 | A2 | 2500000 | 2703927 |
| New York State Dormitory Authority - Pace University | 5.00% |  | 5/1/2026 | BBB- | 1375000 | 1393266 |
| New York State Dormitory Authority - Pace University | 5.00% |  | 5/1/2027 | BBB- | 1500000 | 1548837 |
| New York State Dormitory Authority - Pace University | 5.00% |  | 5/1/2028 | BBB- | 1480000 | 1537047 |
| New York State Dormitory Authority - Pace University | 5.00% |  | 5/1/2036 | BBB- | 2500000 | 2612668 |
| New York State Dormitory Authority - Pace University | 5.00% |  | 5/1/2037 | BBB- | 3000000 | 3112023 |
| New York State Dormitory Authority (AG), (ST AID WITHHLDG) | 5.00% |  | 10/1/2029 | AA | 5500000 | 5988441 |
| New York State Dormitory Authority (AG), (ST AID WITHHLDG) | 5.00% |  | 10/1/2030 | AA | 5285000 | 5846650 |
| Northside Independent School District TX GO (PSF-GTD) | 3.45% | <sup>#(a)</sup> | 8/1/2054 | Aaa | 4000000 | 4015544 |
| Ohio Air Quality Development Authority - Duke Energy Corp | 4.00% | <sup>#(a)</sup> | 9/1/2030 | BBB | 1300000 | 1314112 |
| Sierra Vista Industrial Development Authority - American Leadership Academy Inc AZ<sup>†</sup> | 5.00% |  | 6/15/2034 | NR | 625000 | 643488 |
| Temple University-of The Commonwealth System of Higher Education PA (AG) | 5.00% |  | 4/1/2031 | AA | 2310000 | 2557088 |
| Temple University-of The Commonwealth System of Higher Education PA (AG) | 5.00% |  | 4/1/2032 | AA | 2850000 | 3186072 |

---

<br> 2 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |  |
| Temple University-of The Commonwealth System of Higher Education PA (AG) | 5.00% |  | 4/1/2033 | AA | $2190000 | $2462361 |
| University of North Carolina at Chapel Hill | 3.991%<br> (SOFR \* .67 + 1.05% |)<sup>#</sup> | 12/1/2041 | AAA | 20000000 | 20081904 |
| University of South Alabama (AG) | 5.00% |  | 11/1/2028 | AA | 2285000 | 2338945 |
| *Total* |  |  |  |  |  | 110561751 |
| **General Obligation 11.89%** |  |  |  |  |  |  |
| California State Public Works Board | 5.00% |  | 10/1/2026 | NR | 90000 | 92766 |
| California State Public Works Board | 5.00% |  | 10/1/2026 | Aa3 | 1410000 | 1450868 |
| California State Public Works Board | 5.00% |  | 10/1/2027 | NR | 205000 | 216464 |
| California State Public Works Board | 5.00% |  | 10/1/2027 | Aa3 | 3095000 | 3262496 |
| City of Brockton MA | 5.625% |  | 10/9/2025 | NR | 13150000 | 13243754 |
| City of Chicago IL GO | 5.00% |  | 1/1/2026 | BBB | 6890000 | 6936663 |
| City of Chicago IL GO | 5.00% |  | 1/1/2027 | BBB | 6400000 | 6533576 |
| City of Chicago IL GO | 5.00% |  | 1/1/2034 | BBB | 5000000 | 5300565 |
| City of Jersey City NJ GO | 4.50% |  | 7/10/2025 | NR | 10000000 | 10003277 |
| County of Cook IL GO | 5.00% |  | 11/15/2031 | A+ | 2350000 | 2396920 |
| Delaware Valley Regional Finance Authority PA | 2.32%<br> (MUNIPSA \* 1 + .40% |)<sup>#</sup> | 3/1/2057 | A+ | 6070000 | 6043286 |
| Eagle Mountain & Saginaw Independent School District TX GO (PSF-GTD) | 4.00% | <sup>#(a)</sup> | 8/1/2050 | AAA | 5250000 | 5355731 |
| Florida Insurance Assistance Interlocal Agency, Inc. | 5.00% |  | 9/1/2025 | Aa2 | 10540000 | 10583102 |
| Louisiana Stadium & Exposition District | 5.00% |  | 7/1/2035 | A2 | 2690000 | 2960911 |
| Metropolitan Water Reclamation District of Greater Chicago IL GO | 5.00% |  | 12/1/2030 | AA+ | 1620000 | 1658695 |
| New Caney Independent School District TX GO (PSF-GTD) | 4.00% | <sup>#(a)</sup> | 2/15/2050 | Aaa | 6500000 | 6633076 |
| Schenectady City School District NY (ST AID WITHHLDG) | 4.00% |  | 7/25/2025 | NR | 15000000 | 15008295 |
| State of California GO | 5.00% |  | 8/1/2030 | Aa2 | 4680000 | 4785045 |
| State of California GO | 5.00% |  | 9/1/2030 | Aa2 | 10200000 | 10224186 |
| State of Connecticut GO | 5.00% |  | 12/1/2027 | AA- | 12250000 | 12932848 |
| State of Connecticut GO | 5.00% |  | 12/1/2028 | AA- | 8000000 | 8611015 |
| State of Connecticut GO | 5.00% |  | 12/1/2029 | AA- | 3850000 | 4211077 |
| State of Illinois GO | 5.00% |  | 3/1/2026 | A- | 4050000 | 4099090 |

---

<br> *See Notes to Schedule of Investments.* 3

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  |  |  |  |
| State of Illinois GO | 5.00% |  | 11/1/2027 | A- | $5000000 | $5224333 |
| State of Illinois GO | 5.00% |  | 2/1/2028 | A- | 5990000 | 6144831 |
| State of Illinois GO | 5.00% |  | 7/1/2029 | A- | 9465000 | 10048655 |
| State of Illinois GO | 5.00% |  | 10/1/2029 | A- | 5880000 | 6258452 |
| State of Illinois GO | 5.00% |  | 10/1/2029 | A- | 2115000 | 2217460 |
| State of Illinois GO | 5.00% |  | 10/1/2030 | A- | 3000000 | 3137541 |
| State of Illinois GO | 5.00% |  | 11/1/2030 | A- | 7200000 | 7339090 |
| State of Maryland GO | 4.00% |  | 8/1/2028 | AAA | 5000000 | 5200606 |
| Township of Little Egg Harbor NJ GO | 3.50% |  | 12/18/2025 | NR | 5861000 | 5866196 |
| *Total* |  |  |  |  |  | 193980870 |
| **Health Care 18.98%** |  |  |  |  |  |  |
| Berks County Municipal Authority - Tower Health Obligated Group PA | Zero Coupon |  | 6/30/2044 | NR | 1399000 | 1013677 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 5.00% |  | 6/30/2039 | NR | 2801000 | 2588195 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 6.00% |  | 6/30/2034 | NR | 208897 | 221226 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 8.00% |  | 6/30/2034 | NR | 416899 | 425939 |
| Brevard County Health Facilities Authority - Health First Inc Obligated Group FL | 5.00% |  | 4/1/2027 | A | 3590000 | 3711805 |
| Brevard County Health Facilities Authority - Health First Inc Obligated Group FL | 5.00% |  | 4/1/2028 | A | 3720000 | 3917469 |
| California Health Facilities Financing Authority - Adventist Health System/West Obligated Group CA | 5.00% |  | 12/1/2037 | BBB+ | 8000000 | 8323266 |
| California Health Facilities Financing Authority - Providence St Joseph Health Obligated Group<sup>(b)</sup> | 5.00% | <sup>#(a)</sup> | 10/1/2050 | A | 20000000 | 21416382 |
| California Municipal Finance Authority - Palomar Health Obligated Group COPS<sup>†</sup> | 5.00% |  | 11/1/2027 | B | 10000000 | 9325295 |
| Charlotte-Mecklenburg Hospital Authority - Atrium Health Obligated Group NC | 5.00% | <sup>#(a)</sup> | 1/15/2050 | AA | 4275000 | 4541072 |
| Citizens Memorial Hospital District MO | 5.00% |  | 12/1/2026 | NR | 8825000 | 8869020 |
| City of Colby KS - Citizens Medical Center Inc | 5.50% |  | 7/1/2026 | NR | 5600000 | 5613512 |

---

<br> 4 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| City of Seneca - Nemaha Valley Community Hospital KS | 5.00% |  | 9/1/2025 | NR | $2000000 | $2000674 |
| Colorado Health Facilities Authority | 5.00% |  | 5/15/2033 | AA+ | 4375000 | 4835365 |
| Colorado Health Facilities Authority - AdventHealth Obligated Group | 5.00% | <sup>#(a)</sup> | 11/15/2049 | NR | 185000 | 190206 |
| Colorado Health Facilities Authority - AdventHealth Obligated Group | 5.00% | <sup>#(a)</sup> | 11/15/2049 | AA | 1825000 | 1868964 |
| County of Lehigh - St Luke's Hospital Obligated Group PA | 3.02%<br> (MUNIPSA \* 1 + 1.10% |)<sup>#</sup> | 8/15/2038 | A- | 14630000 | 14433560 |
| Crawford County Memorial Hospital Inc LA | 5.00% |  | 6/15/2027 | NR | 1260000 | 1275741 |
| Harris County Cultural Education Facilities Finance Corp. | 5.00% | <sup>#(a)</sup> | 10/1/2051 | Aa2 | 12620000 | 13804215 |
| Harris County Cultural Education Facilities Finance Corp. - Memorial Hermann Health System Obligated Group TX | 5.00% |  | 7/1/2037 | AA- | 6000000 | 6471759 |
| Harris County Cultural Education Facilities Finance Corp. - Memorial Hermann Health System Obligated Group TX | 5.00% | <sup>#(a)</sup> | 7/1/2049 | AA- | 5420000 | 5567550 |
| Health & Educational Facilities Authority of the State of Missouri - BJC Healthcare Obligated Group | 5.00% |  | 5/1/2030 | AA | 7500000 | 8170168 |
| Health & Educational Facilities Authority of the State of Missouri - BJC Healthcare Obligated Group | 5.00% | <sup>#(a)</sup> | 4/1/2059 | AA | 14800000 | 16242205 |
| Health & Educational Facilities Authority of the State of Missouri - SSM Health Care Obligated Group WA | 5.00% | <sup>#(a)</sup> | 6/1/2039 | A+ | 10000000 | 10520445 |
| Hospitals & Higher Education Facilities Authority of Philadelphia - Temple University Health Obligated Group PA | 5.00% |  | 7/1/2027 | BBB | 5000000 | 5126900 |
| Housing & Redevelopment Authority of The City of St. Paul Minnesota - HealthPartners Obligated Group MN | 5.00% |  | 7/1/2029 | A | 3450000 | 3695826 |
| Idaho Health Facilities Authority | 5.00% | <sup>#(a)</sup> | 3/1/2060 | A | 4000000 | 4317171 |
| Indiana Finance Authority | 5.00% | <sup>#(a)</sup> | 10/1/2062 | AA | 10190000 | 10742820 |
| Louisiana Public Facilities Authority - Ochsner Clinic Foundation Obligated Group | 5.00% |  | 5/15/2030 | A | 6000000 | 6443632 |

---

<br> *See Notes to Schedule of Investments.* 5

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| Maryland Health & Higher Educational Facilities Authority - University of Maryland Medical System Obligated Group | 5.00% | <sup>#(a)</sup> | 7/1/2045 | A | $5000000 | $5481034 |
| Massachusetts Development Finance Agency - Boston Medical Center Corp Obligated Group | 5.00% |  | 7/1/2032 | BBB | 3760000 | 3771721 |
| Massachusetts Development Finance Agency - Mass General Brigham Inc | 5.00% |  | 7/1/2031 | AA- | 5000000 | 5202429 |
| Massachusetts Development Finance Agency - Mass General Brigham Inc | 5.00% | <sup>#(a)</sup> | 7/1/2050 | AA- | 10000000 | 10786989 |
| Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board - Vanderbilt University Medical Center Obligated Group | 5.00% |  | 7/1/2029 | A | 5000000 | 5366006 |
| Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board - Vanderbilt University Medical Center Obligated Group TN | 5.00% |  | 7/1/2028 | A | 1500000 | 1587630 |
| Michigan Finance Authority - McLaren Health Care Corp Obligated Group | 1.20% | <sup>#(a)</sup> | 10/15/2038 | A1 | 10000000 | 9388673 |
| New Hope Cultural Education Facilities Finance Corp. - Bella Vida Forefront Living Obligated Group TX | 4.25% |  | 10/1/2030 | NR | 1250000 | 1251659 |
| New Jersey Health Care Facilities Financing Authority - St Joseph's Healthcare System Obligated Group | 5.00% |  | 7/1/2025 | BBB- | 1600000 | 1600000 |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.00% |  | 9/1/2028 | BBB- | 1500000 | 1559915 |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.00% |  | 9/1/2029 | BBB- | 1750000 | 1843661 |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.00% |  | 9/1/2030 | BBB- | 1000000 | 1065256 |
| New York State Dormitory Authority - Northwell Health Obligated Group | 5.00% |  | 5/1/2028 | A- | 3740000 | 3950337 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.00% |  | 10/1/2030 | BBB- | 375000 | 400300 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.00% |  | 10/1/2031 | BBB- | 2250000 | 2413842 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.00% |  | 10/1/2032 | BBB- | 1000000 | 1074472 |

---

<br> 6 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.00% |  | 10/1/2033 | BBB- | $1000000 | $1073218 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.00% |  | 8/15/2025 | BB | 550000 | 550320 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.00% |  | 8/15/2026 | BB | 800000 | 807825 |
| Pennsylvania Higher Educational Facilities Authority - Thomas Jefferson University Obligated Group | 5.25% |  | 11/1/2039 | A | 8000000 | 8561113 |
| Shelby County Health Educational & Housing Facilities Board - Baptist Memorial Health Care Obligated Group TN | 5.00% | <sup>#(a)</sup> | 9/1/2049 | BBB+ | 8750000 | 9174826 |
| South Carolina Jobs-Economic Development Authority - Kiawah Life Plan Village Inc | 5.25% |  | 11/15/2028 | NR | 2850000 | 2852397 |
| South Carolina Jobs-Economic Development Authority - Novant Health Obligated Group | 5.00% |  | 11/1/2037 | A+ | 4000000 | 4285799 |
| Tarrant County Cultural Education Facilities Finance Corp. - Baylor Scott & White Health Obligated Group TX | 5.00% | <sup>#(a)</sup> | 11/15/2052 | Aa2 | 2180000 | 2206334 |
| Tulsa County Industrial Authority - Montereau Obligated Group OK | 5.00% |  | 11/15/2026 | BBB- <sup>(c)</sup> | 500000 | 503377 |
| Washington Health Care Facilities Authority - CommonSpirit Health Obligated Group | 5.00% |  | 8/1/2029 | A- | 3425000 | 3667520 |
| Washington Health Care Facilities Authority - CommonSpirit Health Obligated Group | 5.00% |  | 8/1/2029 | A- | 3500000 | 3747831 |
| Washington Health Care Facilities Authority - CommonSpirit Health Obligated Group | 5.00% | <sup>#(a)</sup> | 8/1/2049 | A- | 7515000 | 7564816 |
| Washington Health Care Facilities Authority - Multicare Health System Obligated Group | 5.00% | <sup>#(a)</sup> | 8/15/2055 | A | 10000000 | 10667512 |
| Wisconsin Health & Educational Facilities Authority - Marshfield Clinic Health System Obligated Group | 5.00% |  | 2/15/2029 | A | 6200000 | 6572172 |
| Wisconsin Health & Educational Facilities Authority - Wisconsin Masonic Home Obligated Group | 4.20% |  | 8/15/2028 | BBB- <sup>(c)</sup> | 5000000 | 4978679 |
| Total |  |  |  |  |  | 309631722 |

---

<br> *See Notes to Schedule of Investments.* 7

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing 10.05%** |  |  |  |  |  |  |
| Atlanta Urban Residential Finance Authority - North Block Associates LLC GA (FHA), (HUD) | 3.40% | <sup>#(a)</sup> | 2/1/2029 | Aa1 | $2500000 | $2520984 |
| California Housing Finance Agency - Del Sur Family Housing LP | 5.00% | <sup>#(a)</sup> | 5/1/2054 | Aa1 | 1750000 | 1784216 |
| Colorado Housing & Finance Authority (FHLMC), (FNMA), (GNMA)<sup>(b)</sup> | 6.25% |  | 5/1/2055 | AA | 5000000 | 5562147 |
| Colorado Housing & Finance Authority (GNMA) | 6.00% |  | 5/1/2053 | AA | 2325000 | 2524143 |
| Connecticut Housing Finance Authority | 4.00% |  | 5/15/2049 | AAA | 2375000 | 2395667 |
| Connecticut Housing Finance Authority | 6.25% |  | 5/15/2054 | AAA | 2325000 | 2523786 |
| Eagle County Housing & Development Authority - Eagle Villas Owner LP CO | 3.55% | <sup>#(a)</sup> | 12/1/2045 | Aa1 | 3750000 | 3761629 |
| Illinois Housing Development Authority (FHLMC), (FNMA), (GNMA) | 6.25% |  | 10/1/2055 | Aaa | 5000000 | 5611827 |
| Michigan State Housing Development Authority | 4.25% |  | 12/1/2049 | AA+ | 1825000 | 1842069 |
| Michigan State Housing Development Authority | 6.25% |  | 6/1/2055 | AA+ | 5000000 | 5488596 |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 4.25% |  | 7/1/2049 | AA+ | 1635000 | 1651124 |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 5.00% |  | 7/1/2053 | AA+ | 5670000 | 5871613 |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% |  | 7/1/2054 | AA+ | 5320000 | 5764000 |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% |  | 1/1/2055 | AA+ | 2485000 | 2761379 |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.50% |  | 1/1/2055 | AA+ | 3515000 | 3937779 |
| Missouri Housing Development Commission (FHLMC), (FNMA), (GNMA) | 3.25% |  | 11/1/2052 | AA+ | 1405000 | 1389299 |
| New Jersey Housing & Mortgage Finance Agency | 6.00% |  | 10/1/2055 | AA | 3510000 | 3792596 |
| New York City Housing Development Corp. - 8 Spruce NY Owner LLC | 4.00% |  | 12/15/2031 | Baa1 | 500000 | 512213 |
| New York City Housing Development Corp. - 8 Spruce NY Owner LLC | 4.375% |  | 12/15/2031 | Baa3 | 500000 | 511658 |
| New York State Housing Finance Agency (FHA), (SONYMA) | 0.75% |  | 11/1/2025 | Aa2 | 270000 | 266665 |
| North Carolina Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 4.00% |  | 1/1/2050 | AA+ | 1395000 | 1399905 |

---

<br> 8 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing (continued)** |  |  |  |  |  |  |
| North Carolina Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% |  | 1/1/2055 | AA+ | $5235000 | $5662294 |
| North Dakota Housing Finance Agency | 4.00% |  | 1/1/2050 | Aa1 | 2215000 | 2233021 |
| North Dakota Housing Finance Agency | 6.00% |  | 1/1/2056 | Aa1 | 1250000 | 1370735 |
| Ohio Housing Finance Agency - Pebble Brooke Owner LP<sup>(b)</sup> | 3.35% | <sup>#(a)</sup> | 7/1/2043 | Aa1 | 14000000 | 14036358 |
| Ohio Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% |  | 3/1/2055 | Aa1 | 3990000 | 4365941 |
| Pennsylvania Housing Finance Agency<sup>(b)</sup> | 6.50% |  | 10/1/2055 | Aa1 | 5000000 | 5671089 |
| Seattle Housing Authority - Yesler Block 6.6 LLLP WA (HUD) | 5.00% |  | 6/1/2027 | AA | 7000000 | 7145507 |
| South Dakota Housing Development Authority (FHLMC), (FNMA), (GNMA) | 6.25% |  | 5/1/2055 | AAA | 6640000 | 7223037 |
| State of New York Mortgage Agency Homeowner Mortgage Revenue | 3.50% |  | 4/1/2049 | Aa1 | 425000 | 424395 |
| Texas Department of Housing & Community Affairs (GNMA) | 5.50% |  | 7/1/2053 | AA+ | 2480000 | 2644064 |
| Texas State Affordable Housing Corp. - AHFC-FC Norman Housing LP | 3.625% | <sup>#(a)</sup> | 1/1/2045 | Aa1 | 3400000 | 3427775 |
| Utah Housing Corp. (FHLMC), (FNMA), (GNMA) | 6.25% |  | 7/1/2055 | Aa2 | 7025000 | 7831138 |
| Utah Housing Corp. (FHLMC), (FNMA), (GNMA) | 6.50% |  | 7/1/2055 | Aa2 | 5075000 | 5648423 |
| Virginia Beach Development Authority - Westminster-Canterbury on Chesapeake Bay Obligated Group | 5.375% |  | 9/1/2029 | BB+ <sup>(c)</sup> | 3800000 | 3837534 |
| Virginia Housing Development Authority | 3.625% | <sup>#(a)</sup> | 7/1/2055 | AAA | 17555000 | 17555042 |
| Wisconsin Housing & Economic Development Authority - East National LLC | 5.00% | <sup>#(a)</sup> | 8/1/2058 | Aa1 | 2000000 | 2035442 |
| Wisconsin Housing & Economic Development Authority Home Ownership Revenue (FHLMC), (FNMA), (GNMA)<sup>(b)</sup> | 6.25% |  | 9/1/2055 | AA+ | 2100000 | 2324132 |
| Wisconsin Housing & Economic Development Authority Housing Revenue | 3.75% | <sup>#(a)</sup> | 11/1/2055 | AA+ | 8500000 | 8557188 |
| Total |  |  |  |  |  | 163866410 |

---

<br> *See Notes to Schedule of Investments.* 9

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Lease Obligations 0.12%** |  |  |  |  |  |
| Commonwealth of Pennsylvania COPS | 5.00% | 7/1/2025 | A1 | $500000 | $500000 |
| New Jersey Economic Development Authority - New Jersey Transit Corp | 5.00% | 11/1/2028 | A2 | 1315000 | 1400794 |
| Total |  |  |  |  | 1900794 |
| **Other Revenue 3.50%** |  |  |  |  |  |
| Black Belt Energy Gas District AL | 4.00% | 12/1/2049 | A1 | 12325000 | 12336298 |
| California Infrastructure & Economic Development Bank - Museum Associates | 2.62%<br> (MUNIPSA \* 1 + .70% | 12/1/2050 | A3 | 6500000 | 6467878 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 5.25% | 8/15/2026 | Baa3 | 1605000 | 1609114 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 5.25% | 8/15/2028 | Baa3 | 1920000 | 1924922 |
| Illinois Finance Authority - Field Museum Natural of History | 4.273%<br> (SOFR \* .70 + 1.20% | 11/1/2034 | A | 4285000 | 4282477 |
| Industrial Development Authority of the County of Pima - Edkey Inc Obligated Group<sup>†(d)</sup> | 3.50% | 7/1/2025 | NR | 425000 | 297500 |
| Lower Alabama Gas District | 4.00% | 12/1/2050 | A2 | 19085000 | 19120231 |
| Oregon State Lottery | 5.00% | 4/1/2031 | AAA | 3025000 | 3127371 |
| Public Finance Authority - Inperium Inc Obligated Group WI<sup>†</sup> | 5.00% | 12/1/2034 | NR | 2135000 | 2168129 |
| Triborough Bridge & Tunnel Authority - Metropolitan Transportation Authority Payroll Mobility Tax Revenue NY | 5.00% | 5/15/2051 | AA+ | 5700000 | 5790010 |
| Total |  |  |  |  | 57123930 |
| **Pollution Control 0.19%** |  |  |  |  |  |
| North Carolina Capital Facilities Finance Agency - Republic Services Inc | 3.45% | 7/1/2034 | A- | 3115000 | 3115810 |
| **Special Tax 0.33%** |  |  |  |  |  |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.00% | 5/1/2028 | NR | 1915000 | 1953128 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY (FGIC) | 3.191%<br> (CPI YoY \* 1 + 0.88% | 3/1/2026 | Baa1 | 2000000 | 1990328 |
| Village Community Development District No. 13 FL<sup>†</sup> | 2.625% | 5/1/2030 | NR | 1450000 | 1360519 |
| Total |  |  |  |  | 5303975 |

---

<br> 10 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tax Revenue 1.87%** |  |  |  |  |  |  |
| City of Sparks NV<sup>†</sup> | 2.75% |  | 6/15/2028 | Baa2 | $80000 | $78137 |
| Matching Fund Special Purpose Securitization Corp. - United States Virgin Islands Federal Excise Tax | 5.00% |  | 10/1/2026 | NR | 2000000 | 2016799 |
| New Jersey Transportation Trust Fund Authority | 5.00% |  | 6/15/2028 | A2 | 3995000 | 4235496 |
| New York City Transitional Finance Authority - New York City Transitional Finance Authority Future Tax Secured Revenue | 5.00% |  | 11/1/2032 | AAA | 14000000 | 15788676 |
| New York State Housing Finance Agency - State of New York Personal Income Tax Revenue | 3.35% | <sup>#(a)</sup> | 6/15/2054 | Aa1 | 3610000 | 3608903 |
| New York State Housing Finance Agency - State of New York Personal Income Tax Revenue | 3.45% | <sup>#(a)</sup> | 6/15/2054 | Aa1 | 1500000 | 1502757 |
| State of Louisiana Gasoline & Fuels Tax Revenue | 5.00% |  | 5/1/2032 | AA | 2875000 | 3223805 |
| Total |  |  |  |  |  | 30454573 |
| **Taxable Revenue - Water & Sewer 0.79%** |  |  |  |  |  |  |
| Washington Suburban Sanitary Commission MD | 4.00% |  | 6/15/2032 | AAA | 5000000 | 5068232 |
| Water Works Board of the City of Birmingham/The AL<sup>†</sup> | 3.75% |  | 9/1/2026 | NR | 7750000 | 7742692 |
| Total |  |  |  |  |  | 12810924 |
| **Transportation 4.90%** |  |  |  |  |  |  |
| Central Texas Turnpike System | 5.00% |  | 8/15/2031 | A- | 7500000 | 8261745 |
| City of Cleveland Airport System Revenue OH | 5.00% |  | 1/1/2029 | A | 7500000 | 8012452 |
| City of Cleveland Airport System Revenue OH | 5.00% |  | 1/1/2030 | A | 6000000 | 6502533 |
| Metropolitan Transportation Authority NY | 5.00% |  | 11/15/2026 | A2 | 2250000 | 2313529 |
| Metropolitan Transportation Authority NY | 5.00% |  | 11/15/2026 | A2 | 1675000 | 1722294 |
| Metropolitan Transportation Authority NY | 5.00% |  | 11/15/2026 | A2 | 2315000 | 2380364 |
| New Jersey Transportation Trust Fund Authority | 5.00% |  | 6/15/2036 | A2 | 5500000 | 5942784 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.00% |  | 6/15/2033 | A2 | 11500000 | 12748910 |

---

<br> *See Notes to Schedule of Investments.* 11

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.00% |  | 6/15/2033 | A2 | $4000000 | $4434458 |
| New Jersey Turnpike Authority (AG) | 5.25% |  | 1/1/2026 | AA | 7645000 | 7731984 |
| North Carolina Turnpike Authority (AG) | 5.00% |  | 1/1/2028 | AA | 1500000 | 1544875 |
| North Texas Tollway Authority | 5.00% |  | 1/1/2026 | AA- | 5500000 | 5563479 |
| North Texas Tollway Authority | 5.00% |  | 1/1/2031 | A+ | 5250000 | 5766155 |
| Oklahoma Turnpike Authority | 5.00% |  | 1/1/2030 | AA- | 1730000 | 1786258 |
| Port Authority of New York & New Jersey | 3.00% |  | 12/1/2027 | AA- | 2500000 | 2493311 |
| State of Louisiana Gasoline & Fuels Tax Revenue | 5.00% |  | 5/1/2029 | AA | 2575000 | 2775354 |
| Total |  |  |  |  |  | 79980485 |
| **Utilities 19.51%** |  |  |  |  |  |  |
| Bartow County Development Authority - Georgia Power Co | 2.875% | <sup>#(a)</sup> | 8/1/2043 | A | 4375000 | 4369497 |
| Black Belt Energy Gas District AL | 5.25% | <sup>#(a)</sup> | 5/1/2055 | A1 | 3750000 | 3901744 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 11/1/2055 | A1 | 14500000 | 14970551 |
| California Community Choice Financing Authority | 5.25% |  | 11/1/2054 | A2 | 5480000 | 5809984 |
| Central Plains Energy Project NE | 5.101%<br> (SOFR \* .67 + 2.18% |)<sup>#</sup> | 5/1/2053 | A2 | 20000000 | 20692800 |
| City of San Antonio Electric & Gas Systems Revenue TX | 5.00% |  | 2/1/2031 | Aa2 | 1790000 | 1842946 |
| Delaware State Economic Development Authority - NRG Energy Inc | 1.25% | <sup>#(a)</sup> | 10/1/2040 | BBB- | 10000000 | 9904356 |
| Delaware State Economic Development Authority - NRG Energy Inc | 1.25% | <sup>#(a)</sup> | 10/1/2045 | BBB- | 16000000 | 15846970 |
| Development Authority of Burke County - Georgia Power Co | 2.875% | <sup>#(a)</sup> | 12/1/2049 | A | 5650000 | 5642137 |
| Development Authority of Burke County - Georgia Power Co | 3.375% | <sup>#(a)</sup> | 11/1/2048 | A | 7750000 | 7738073 |
| Development Authority of Burke County - Oglethorpe Power Corp GA | 3.60% | <sup>#(a)</sup> | 11/1/2045 | A3 | 3000000 | 3019844 |
| Development Authority of Monroe County - Georgia Power Co | 3.875% | <sup>#(a)</sup> | 6/1/2042 | A | 6000000 | 6019909 |
| Energy Southeast A Cooperative District AL | 5.121%<br> (SOFR \* .67 + 2.20% |)<sup>#</sup> | 4/1/2054 | A1 | 5000000 | 5091055 |
| Energy Southeast A Cooperative District AL | 5.25% | <sup>#(a)</sup> | 7/1/2054 | A1 | 6000000 | 6422007 |

---

<br> 12 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |
| Illinois Finance Authority - Peoples Gas Light & Coke Co/The | 3.90% |  | 3/1/2030 | Aa3 | $5000000 | $4980501 |
| Indiana Finance Authority - Indianapolis Power & Light Co | 0.65% |  | 8/1/2025 | A2 | 4500000 | 4487255 |
| Kentucky Municipal Power Agency | 3.45% | <sup>#(a)</sup> | 9/1/2042 | Baa1 | 1700000 | 1695314 |
| Kentucky Public Energy Authority | 5.25% | <sup>#(a)</sup> | 4/1/2054 | A1 | 10000000 | 10689714 |
| Kentucky Public Energy Authority | 5.25% | <sup>#(a)</sup> | 6/1/2055 | A1 | 13000000 | 13748163 |
| Los Angeles Department of Water & Power System Revenue CA | 5.00% |  | 7/1/2028 | Aa2 | 15000000 | 15650793 |
| Los Angeles Department of Water & Power System Revenue CA | 5.00% |  | 7/1/2030 | Aa2 | 4000000 | 4312864 |
| Lower Colorado River Authority - LCRA Transmission Services Corp TX | 5.00% |  | 5/15/2030 | A1 | 6000000 | 6536559 |
| Lower Colorado River Authority TX | 5.00% | <sup>#(a)</sup> | 5/15/2039 | A | 20000000 | 20874250 |
| Main Street Natural Gas, Inc. GA<sup>†</sup> | 4.00% | <sup>#(a)</sup> | 8/1/2052 | BBB- | 18000000 | 17950203 |
| Missouri Joint Municipal Electric Utility Commission | 5.00% |  | 12/1/2030 | A2 | 5000000 | 5483473 |
| Missouri Joint Municipal Electric Utility Commission | 5.00% |  | 12/1/2031 | A2 | 6470000 | 7199970 |
| Montgomery County Industrial Development Authority - Constellation Energy Generation LLC PA | 4.10% | <sup>#(a)</sup> | 4/1/2053 | BBB+ | 7760000 | 7933631 |
| New Jersey Economic Development Authority - New Jersey Transit Corp | 5.00% |  | 3/1/2028 | A2 | 2840000 | 2999010 |
| Pennsylvania Economic Development Financing Authority - Talen Energy Supply LLC | 5.25% | <sup>#(a)</sup> | 12/1/2038 | B | 1100000 | 1107546 |
| Philadelphia Gas Works Co. - Philadelphia Gas Works Co | 5.00% |  | 8/1/2030 | A | 2000000 | 2189571 |
| Philadelphia Gas Works Co. - Philadelphia Gas Works Co | 5.00% |  | 8/1/2031 | A | 1375000 | 1523000 |
| Piedmont Municipal Power Agency Catawba Project Power Sales Revenue SC | 5.00% |  | 1/1/2028 | A- | 7695000 | 7900102 |
| Piedmont Municipal Power Agency Catawba Project Power Sales Revenue SC | 5.00% |  | 1/1/2029 | A- | 8240000 | 8445602 |
| Public Power Generation Agency NE | 5.00% |  | 1/1/2031 | A2 | 1500000 | 1654663 |
| Public Power Generation Agency NE | 5.00% |  | 1/1/2032 | A2 | 1200000 | 1336402 |
| South Carolina Public Service Authority | 5.00% |  | 12/1/2028 | A- | 4325000 | 4624636 |
| Southeast Energy Authority A Cooperative District AL | 4.711%<br> (SOFR \* .67 + 1.79% |)<sup>#</sup> | 5/1/2053 | A2 | 18000000 | 18308334 |

---

<br> *See Notes to Schedule of Investments.* 13

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |  |
| Southeast Energy Authority A Cooperative District AL |  | 5.25% | <sup>#(a)</sup> | 3/1/2055 | A1 | $4550000 | $4756308 |
| Southern California Public Power Authority - City of Anaheim Electric System Revenue |  | 5.00% | <sup>#(a)</sup> | 4/1/2055 | A2 | 5250000 | 5523700 |
| Tennessee Energy Acquisition Corp. |  | 5.625% |  | 9/1/2026 | BBB <sup>(c)</sup> | 9040000 | 9203051 |
| Texas Municipal Gas Acquisition & Supply Corp. I |  | 6.25% |  | 12/15/2026 | A1 | 2500000 | 2566103 |
| Texas Municipal Gas Acquisition & Supply Corp. IV |  | 5.25% |  | 1/1/2030 | A1 | 4660000 | 4914476 |
| West Virginia Economic Development Authority - Appalachian Power Co |  | 0.625% | <sup>#(a)</sup> | 12/1/2038 | BBB+ | 8500000 | 8378156 |
| *Total* |  |  |  |  |  |  | 318245223 |
| *Total Municipal Bonds* (cost $1,341,467,883) |  |  |  |  |  |  | 1341945304 |
|  | **Interest<br> Rate**<sup>#</sup> | **Interest<br> Rate<br> Reset<br> Date**<sup>(e)</sup> |  | **Final<br> Maturity<br> Date** |  |  |  |
| **SHORT-TERM INVESTMENTS 20.59%** |  |  |  |  |  |  |  |
| **Variable Rate Demand Notes 20.59%** |  |  |  |  |  |  |  |
| **Education 4.23%** |  |  |  |  |  |  |  |
| New York State Dormitory Authority - Pace University | 2.720% | 7/1/2025 |  | 5/1/2044 | BBB- | 20000000 | 20000000 |
| Pennsylvania Higher Educational Facilities Authority - Thomas Jefferson University Obligated Group | 2.720% | 7/1/2025 |  | 9/1/2045 | A | 22325000 | 22325000 |
| Philadelphia Authority for Industrial Development - Thomas Jefferson University Obligated PA | 2.720% | 7/1/2025 |  | 9/1/2050 | A | 13125000 | 13125000 |
| University of California | 2.350% | 7/1/2025 |  | 5/15/2048 | AA | 13550000 | 13550000 |
| *Total* |  |  |  |  |  |  | 69000000 |

---

<br> 14 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate**<sup>#</sup> | **Interest<br> Rate<br> Reset<br> Date**<sup>(e)</sup> | **Final<br> Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation 3.27%** |  |  |  |  |  |  |
| City of New York NY GO | 3.900% | 7/1/2025 | 4/1/2042 | AA | $32500000 | $32500000 |
| City of New York NY GO | 3.900% | 7/1/2025 | 4/1/2042 | AA | 1700000 | 1700000 |
| City of New York NY GO | 3.900% | 7/1/2025 | 10/1/2046 | AA | 7070000 | 7070000 |
| City of New York NY GO | 3.900% | 7/1/2025 | 10/1/2046 | AA | 2000000 | 2000000 |
| Florida Insurance Assistance Interlocal Agency, Inc. | 2.640% | 7/1/2025 | 9/1/2032 | Aa2 | 10000000 | 10000000 |
| Total |  |  |  |  |  | 53270000 |
| **Health Care 9.48%** |  |  |  |  |  |  |
| Harris County Cultural Education Facilities Finance Corp. - Baylor College of Medicine TX | 2.420% | 7/1/2025 | 11/15/2046 | A | 25875000 | 25875000 |
| Health Care Authority for Baptist Health - Brazos Presbyterian Homes Obligated Group AL | 3.340% | 7/1/2025 | 11/1/2042 | A3 | 29133000 | 29133000 |
| Montgomery County Higher Education & Health Authority - Thomas Jefferson University Obligated Group PA | 2.720% | 7/1/2025 | 9/1/2050 | A | 7485000 | 7485000 |
| Rib Floater Trust Various States FL<sup>†</sup> | 2.270% | 7/1/2025 | 10/1/2054 | A1 | 19100000 | 19100000 |
| State of Ohio - University Hospitals Health System Inc Obligated Group | 2.450% | 7/1/2025 | 1/15/2033 | A | 10000000 | 10000000 |
| State of Ohio - University Hospitals Health System Inc Obligated Group | 2.450% | 7/1/2025 | 1/15/2045 | A | 10035000 | 10035000 |
| Wisconsin Health & Educational Facilities Authority-Marshfield Clinic Health System Obligated Group | 4.570% | 7/1/2025 | 2/15/2053 | BBB | 53025000 | 53025000 |
| Total |  |  |  |  |  | 154653000 |
| **Home Furnishings 0.61%** |  |  |  |  |  |  |
| Rib Floater Trust Various States MD<sup>†</sup> | 2.270% | 7/1/2025 | 11/15/2049 | A1 | 10000000 | 10000000 |
| **Pollution Control 1.47%** |  |  |  |  |  |  |
| Port of Port Arthur Navigation District - Motiva Enterprises LLC TX | 4.100% | 7/1/2025 | 4/1/2040 | BBB+ | 23900000 | 23900000 |
| **Transportation 0.55%** |  |  |  |  |  |  |
| Bay Area Toll Authority CA | 2.950% | 7/1/2025 | 4/1/2055 | AA+ | 9000000 | 9000000 |

---

<br> *See Notes to Schedule of Investments.* 15

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate**<sup>#</sup> | **Interest<br> Rate<br> Reset<br> Date**<sup>(e)</sup> | **Final<br> Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities 0.98%** |  |  |  |  |  |  |
| New York City Municipal Water Finance Authority *-* New York City Water & Sewer System NY | 3.900% | 7/1/2025 | 6/15/2033 | AA+ | $5500000 | $5500000 |
| New York City Municipal Water Finance Authority *-* New York City Water & Sewer System NY | 4.000% | 7/1/2025 | 6/15/2050 | AA+ | 10500000 | 10500000 |
| Total |  |  |  |  |  | 16000000 |
| *Total Short-Term Investments* (cost $335,823,000) | *Total Short-Term Investments* (cost $335,823,000) | *Total Short-Term Investments* (cost $335,823,000) | *Total Short-Term Investments* (cost $335,823,000) |  |  | 335823000 |
| *Total Investments in Securities 102.87%* (cost $1,677,290,883) | *Total Investments in Securities 102.87%* (cost $1,677,290,883) | *Total Investments in Securities 102.87%* (cost $1,677,290,883) | *Total Investments in Securities 102.87%* (cost $1,677,290,883) |  |  | 1677768304 |
| Other Assets and Liabilities – Net (2.87)% |  |  |  |  |  | (46814172) |
| Net Assets 100.00% |  |  |  |  |  | $1630954132 |

---

 

---

| | |
|:---|:---|
| AG | Insured by *-* Assured Guaranty, inc. |
| COPS | Certificates of Participation. |
| CPI | Consumer Price Index: Rate fluctuates based on CPI. |
| FGIC | Insured by *-* Financial Guaranty Insurance Company. |
| FHA | Insured by *-* Federal Housing Administration. |
| FHLMC | Insured by *-* Federal Home Loan Mortgage Corporation. |
| FNMA | Federal National Mortgage Association. |
| GNMA | Government National Mortgage Association. |
| GTD | Guaranteed. |
| HUD | Insured by *-* Department of Housing and Urban Development. |
| MUNIPSA | SIFMA Municipal Swap Index Yield. |
| NR | Not Rated. |
| PSF | Permanent School Fund. |
| SIFMA | Insured by *-* Securities Industry and Financial Markets Association. |
| SOFR | Secured Overnight Financing Rate. |
| SONYMA | State of New York Mortgage Agency. |
| YoY | Year on Year Inflation Rates. |

---

---

| | |
|:---|:---|
| <sup>#</sup> | Variable rate security. The interest rate represents the rate in effect at June 30, 2025. |
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At June 30, 2025, the total value of Rule 144A securities was $86,173,873, which represents 5.28% of net assets. |
| <sup>(a)</sup> | Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date. |
| <sup>(b)</sup> | Securities purchased on a when-issued basis. |
| <sup>(c)</sup> | This investment has been rated by Fitch IBCA. |
| <sup>(d)</sup> | Defaulted (non-income producing security). |
| <sup>(e)</sup> | The interest rate reset date shown represents the date in which the Fund has the right to sell a Variable Rate Demand Note ("VRDN") back to the issuer for Principal Amount. The interest rate on the VRDN is generally reset daily based on the SIFMA Municipal Swap Index. |

---

<br> 16 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(concluded)**

SHORT DURATION TAX FREE FUND *June 30, 2025*

 

The following is a summary of the inputs used as of June 30, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| I**nvestment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Municipal Bonds | $– | $1341945304 | $– | $1341945304 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Variable Rate Demand Notes | – | 335823000 | – | 335823000 |
| Total | $– | $1677768304 | $– | $1677768304 |

---

---

| | |
|:---|:---|
| |  |
| <sup>(1)</sup> | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. |
| <sup>(2)</sup> | See Schedule of Investments for fair values in each industry. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |

---

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets.

<br> *See Notes to Schedule of Investments.* 17

**Schedule of Investments (unaudited)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 98.57%** |  |  |  |  |  |  |
| **MUNICIPAL BONDS 98.57%** |  |  |  |  |  |  |
| **Corporate-Backed 9.16%** |  |  |  |  |  |  |
| Arizona Industrial Development Authority | 3.625% |  | 5/20/2033 | BBB | $7925560 | $7597041 |
| Baldwin County Industrial Development Authority - Novelis Corp AL AMT<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 6/1/2055 | BB | 17000000 | 17153075 |
| Black Belt Energy Gas District AL | 4.00% | <sup>#(a)</sup> | 10/1/2052 | A2 | 31580000 | 31663968 |
| Build NYC Resource Corp. - Pratt Paper Inc NY AMT<sup>†</sup> | 5.00% |  | 1/1/2035 | NR | 530000 | 530265 |
| Cabot Citrus Farms Community Development District FL | 5.25% |  | 3/1/2029 | NR | 5400000 | 5447251 |
| California Infrastructure & Economic Development Bank - Desertxpress Enterprises LLC AMT<sup>†</sup> | 9.50% | <sup>#(a)</sup> | 1/1/2065 | NR | 22200000 | 21050104 |
| California Municipal Finance Authority - Waste Management Inc AMT | 4.125% | <sup>#(a)</sup> | 10/1/2041 | A- | 7250000 | 7250756 |
| City of Farmington - Public Service Co of New Mexico | 3.90% | <sup>#(a)</sup> | 6/1/2040 | BBB | 7000000 | 7088785 |
| City of Granite City - Waste Management of Illinois Inc IL AMT | 1.25% |  | 5/1/2027 | A- | 5485000 | 5219183 |
| City of Henderson - Pratt Paper LLC KY AMT<sup>†</sup> | 3.70% |  | 1/1/2032 | NR | 6650000 | 6531790 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.00% |  | 7/1/2029 | BB | 1885000 | 1885099 |
| Downtown Doral South Community Development District FL<sup>†</sup> | 4.75% |  | 12/15/2038 | NR | 625000 | 614121 |
| Florida Development Finance Corp. - Waste pro USA Inc AMT<sup>†</sup> | 6.125% | <sup>#(a)</sup> | 7/1/2032 | NR | 7430000 | 7520662 |
| Greater Orlando Aviation Authority - JetBlue Airways Corp FL | 5.00% |  | 11/15/2026 | NR | 2980000 | 2980071 |
| Hobe-St Lucie Conservancy District Unit of Development No 1A | 5.60% |  | 5/1/2044 | NR | 1845000 | 1846496 |
| Hoover Industrial Development Board - United States Steel Corp AL AMT | 6.375% | <sup>#(a)</sup> | 11/1/2050 | BB- | 8525000 | 9372854 |
| Indiana Finance Authority - Ohio Valley Electric Corp | 2.50% |  | 11/1/2030 | Baa3 | 1000000 | 937116 |
| Indiana Finance Authority - Ohio Valley Electric Corp | 3.00% |  | 11/1/2030 | Baa3 | 5600000 | 5447745 |
| Indiana Finance Authority - Ohio Valley Electric Corp | 3.00% |  | 11/1/2030 | Baa3 | 9850000 | 9568189 |

---

<br> 18 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Indiana Finance Authority - United States Steel Corp | 4.125% |  | 12/1/2026 | BB- | $1625000 | $1630580 |
| Indiana Finance Authority - United States Steel Corp AMT | 6.75% |  | 5/1/2039 | BB- | 1500000 | 1663289 |
| Industrial Development Authority of the County of Yavapai - Waste Management Inc AZ AMT | 1.30% |  | 6/1/2027 | A- | 4650000 | 4419294 |
| Iowa Finance Authority - Howmet Aerospace Inc | 4.75% |  | 8/1/2042 | Baa1 | 18050000 | 17394213 |
| Iowa Finance Authority - Iowa Fertilizer Co LLC | 4.00% | <sup>#(a)</sup> | 12/1/2050 | AA+ | 11050000 | 11801519 |
| Kansas City Industrial Development Authority MO AMT | 5.00% |  | 3/1/2035 | A | 3020000 | 3103190 |
| Louisiana Local Government Environmental Facilities & Community Development Authority - Westlake Corp | 3.50% |  | 11/1/2032 | BBB+ | 7655000 | 7373019 |
| Louisiana Public Facilities Authority - Waste Pro USA Inc AMT<sup>†</sup> | 6.75% | <sup>#(a)</sup> | 10/1/2053 | NR | 12000000 | 12671903 |
| Maryland Economic Development Corp.<sup>(b)</sup> | 5.00% |  | 12/1/2016 | NR | 2570000 | 1721900 |
| Maryland Economic Development Corp. - Core Natural Resources Inc<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 7/1/2048 | NR | 5150000 | 5213753 |
| Massachusetts Development Finance Agency - Waste Management of Massachusetts Inc AMT<sup>†</sup> | 1.25% |  | 5/1/2027 | A- | 3250000 | 3092497 |
| Matagorda County Navigation District No. 1 - AEP Texas Inc | 2.60% |  | 11/1/2029 | BBB+ | 6800000 | 6484826 |
| Matagorda County Navigation District No. 1 - AEP Texas Inc | 4.00% |  | 6/1/2030 | BBB+ | 8000000 | 8001302 |
| Michigan Strategic Fund - Graphic Packaging International LLC AMT | 4.00% | <sup>#(a)</sup> | 10/1/2061 | BB | 5640000 | 5609149 |
| Mission Economic Development Corp. - Natgasoline LLC TX AMT<sup>†</sup> | 4.625% |  | 10/1/2031 | BB- | 10000000 | 10016016 |
| New Hampshire Business Finance Authority | 4.125% |  | 1/20/2034 | BBB+ | 4575454 | 4527873 |
| New Hampshire Business Finance Authority - Covanta Holding Corp AMT<sup>†</sup> | 3.75% | <sup>#(a)</sup> | 7/1/2045 | B | 1970000 | 1582891 |
| New Hampshire Business Finance Authority - Covanta Holding Corp AMT<sup>†</sup> | 4.00% |  | 11/1/2027 | B | 6225000 | 6224002 |
| New Hampshire Business Finance Authority - New York State Electric & Gas Corp AMT | 4.00% |  | 12/1/2028 | A- | 9235000 | 9298808 |

---

<br> *See Notes to Schedule of Investments.* 19

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| New Jersey Economic Development Authority - United Airlines Inc | 5.25% |  | 9/15/2029 | BB | $15990000 | $15995588 |
| New Jersey Economic Development Authority - United Airlines Inc | 5.50% |  | 6/1/2033 | BB | 1500000 | 1500821 |
| New York City Industrial Development Agency - TRIPS Obligated Group NY | 5.00% |  | 7/1/2028 | BBB+ | 1940000 | 1940192 |
| New York Liberty Development Corp. | 2.50% |  | 11/15/2036 | A+ | 2500000 | 2030753 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 5.15% |  | 11/15/2034 | NR | 1875000 | 1875133 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 7.25% |  | 11/15/2044 | NR | 1920000 | 1921242 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT | 2.75% | <sup>#(a)</sup> | 9/1/2050 | B+ | 2900000 | 2888405 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT<sup>†</sup> | 2.875% | <sup>#(a)</sup> | 12/1/2044 | B+ | 2000000 | 1876723 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT<sup>†</sup> | 5.125% | <sup>#(a)</sup> | 9/1/2050 | B+ | 1000000 | 1029345 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.00% |  | 8/1/2026 | B+ | 1285000 | 1285032 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.00% |  | 8/1/2031 | B+ | 2500000 | 2500030 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.25% |  | 8/1/2031 | B+ | 1620000 | 1656786 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.375% |  | 8/1/2036 | B+ | 1850000 | 1887370 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% |  | 1/1/2026 | Baa2 | 3110000 | 3123324 |
| Niagara Area Development Corp. - Reworld Holding Corp NY AMT<sup>†</sup> | 4.75% |  | 11/1/2042 | B | 5500000 | 4989673 |
| Ohio Air Quality Development Authority - American Electric Power Co Inc | 2.40% | <sup>#(a)</sup> | 12/1/2038 | BBB | 5685000 | 5347526 |
| Ohio Air Quality Development Authority - American Electric Power Co Inc AMT | 2.50% | <sup>#(a)</sup> | 11/1/2042 | BBB | 8800000 | 8278780 |
| Ohio Air Quality Development Authority - American Electric Power Co Inc AMT | 2.60% | <sup>#(a)</sup> | 6/1/2041 | BBB | 18210000 | 17201887 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.10% | <sup>#(a)</sup> | 6/1/2038 | BB+ | 1500000 | 1598638 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.10% | <sup>#(a)</sup> | 12/1/2040 | BB+ | 9825000 | 10470265 |
| Parish of St. John the Baptist - Marathon Oil Corp LA | 4.05% | <sup>#(a)</sup> | 6/1/2037 | A2 | 7750000 | 7792892 |

---

<br> 20 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Pennsylvania Economic Development Financing Authority - Covanta Holding Corp AMT<sup>†</sup> | 3.25% |  | 8/1/2039 | B | $1035000 | $826793 |
| Phenix City Industrial Development Board - WestRock Coated Board LLC AL AMT | 4.125% |  | 5/15/2035 | BBB | 1500000 | 1439941 |
| Port of Beaumont Industrial Development Authority - Jefferson 2020 Bond Lessee & Borrower LLC Obligated Group TX<sup>†</sup> | 4.10% |  | 1/1/2028 | NR | 8000000 | 7083704 |
| Port of Beaumont Navigation District - Jefferson 2020 Bond Lessee & Borrower LLC Obligated Group TX<sup>†</sup> | 10.00% |  | 7/1/2026 | NR | 5000000 | 5053002 |
| Public Finance Authority - Sky Harbour Capital LLC Obligated Group WI AMT | 4.00% |  | 7/1/2036 | NR | 6000000 | 5652542 |
| Public Finance Authority - Sky Harbour Capital LLC Obligated Group WI AMT | 4.00% |  | 7/1/2041 | NR | 7220000 | 6244010 |
| Public Finance Authority - TRIPS Obligated Group WI AMT | 5.00% |  | 7/1/2042 | BBB+ | 7650000 | 7570215 |
| Public Finance Authority - TRIPS Obligated Group WI AMT | 5.25% |  | 7/1/2028 | BBB+ | 1260000 | 1261023 |
| Public Finance Authority WI<sup>†</sup> | 5.375% |  | 12/15/2032 | NR | 2885000 | 2884942 |
| State of Nevada Department of Business & Industry - Desertxpress Enterprises LLC AMT<sup>†</sup> | 9.50% | <sup>#(a)</sup> | 1/1/2065 | NR | 8050000 | 7627375 |
| Tulsa Municipal Airport Trust Trustees - American Airlines Inc OK AMT | 6.25% |  | 12/1/2035 | B+ | 6815000 | 7534169 |
| Tuscaloosa County Industrial Development Authority - Hunt Refining Co AL<sup>†</sup> | 5.25% |  | 5/1/2044 | NR | 6740000 | 6670354 |
| Vermont Economic Development Authority - Casella Waste Systems Inc AMT<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 6/1/2052 | B+ | 5500000 | 5557411 |
| Village Community Development District No 15 Series 2024 Special Assessment FL<sup>†</sup> | 4.55% |  | 5/1/2044 | NR | 5750000 | 5365100 |
| Village Community Development District No. 15 FL<sup>†</sup> | 4.85% |  | 5/1/2038 | NR | 2180000 | 2200107 |
| Village Community Development District No. 15 FL<sup>†</sup> | 5.00% |  | 5/1/2043 | NR | 5145000 | 5074979 |
| Virginia Small Business Financing Authority - Covanta Holding Corp AMT<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 1/1/2048 | B | 440000 | 421358 |
| West Pace Cooperative District AL<sup>(b)</sup> | 9.125% |  | 5/1/2039 | NR | 4900000 | 2450000 |
| West Virginia Economic Development Authority - Kentucky Power Co AMT | 4.70% | <sup>#(a)</sup> | 4/1/2036 | BBB | 5800000 | 5830444 |
| *Total* |  |  |  |  |  | 455472469 |

---

<br> *See Notes to Schedule of Investments.* 21

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education 9.65%** |  |  |  |  | | |
| California Community Choice Financing Authority | 4.621%<br> (SOFR \* .67 + 1.70% |)<sup>#</sup> | 5/1/2053 | A1 | $10000000 | $10038268 |
| California Infrastructure & Economic Development Bank - University of California | 5.00% |  | 5/15/2036 | AA | 1100000 | 1248130 |
| California Infrastructure & Economic Development Bank - University of California | 5.00% |  | 5/15/2037 | AA | 2500000 | 2802321 |
| California Infrastructure & Economic Development Bank - University of California | 5.00% |  | 5/15/2038 | AA | 2750000 | 3044730 |
| California Infrastructure & Economic Development Bank - University of California | 5.00% |  | 5/15/2039 | AA | 5000000 | 5476925 |
| California Infrastructure & Economic Development Bank - University of California | 5.00% |  | 5/15/2041 | AA | 3000000 | 3222269 |
| California Infrastructure & Economic Development Bank - University of California | 5.00% |  | 5/15/2042 | AA | 4105000 | 4189176 |
| California Infrastructure & Economic Development Bank - University of California | 5.00% |  | 5/15/2042 | AA | 3965000 | 4224802 |
| California School Finance Authority - Aspire Public Schools Obligated Group<sup>†</sup> | 5.00% |  | 8/1/2036 | NR | 125000 | 125169 |
| California School Finance Authority - Aspire Public Schools Obligated Group<sup>†</sup> | 5.00% |  | 8/1/2036 | BBB- | 1475000 | 1474923 |
| California State University | 0.55% | <sup>#(a)</sup> | 11/1/2049 | Aa2 | 6750000 | 6481094 |
| Capital Trust Agency, Inc. - Renaissance Charter School Inc Series 2019 Obligated Group FL<sup>†</sup> | 5.00% |  | 6/15/2039 | NR | 2160000 | 2023845 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL | 5.00% |  | 4/1/2038 | A <sup>(c)</sup> | 3230000 | 3348792 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL | 5.25% |  | 4/1/2034 | A <sup>(c)</sup> | 1625000 | 1768856 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL | 5.25% |  | 4/1/2035 | A <sup>(c)</sup> | 1125000 | 1215046 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL | 5.25% |  | 4/1/2036 | A <sup>(c)</sup> | 2175000 | 2329728 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL | 5.25% |  | 4/1/2039 | A <sup>(c)</sup> | 6220000 | 6499680 |

---

<br> 22 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |  |
| Chicago Board of Education IL GO (AG) | 5.00% |  | 12/1/2031 | AA | $5000000 | $5188733 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 5.125% |  | 8/15/2030 | NR | 3500000 | 3508446 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 5.75% |  | 8/15/2038 | NR | 1405000 | 1409447 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 6.00% |  | 8/15/2038 | Baa3 | 19860000 | 19928092 |
| Clifton Higher Education Finance Corp. TX (PSF-GTD) | 4.00% | <sup>#(a)</sup> | 2/15/2055 | Aaa | 4500000 | 4584462 |
| Clifton Higher Education Finance Corp. TX (PSF-GTD) | 5.00% |  | 2/15/2035 | Aaa | 2275000 | 2482499 |
| Clifton Higher Education Finance Corp. TX (PSF-GTD) | 5.25% |  | 2/15/2043 | Aaa | 2500000 | 2617695 |
| Clinton County Capital Resource Corp. - Clinton-Essex-Warren-Washington Board of Cooperative Educational Services NY<sup>†</sup> | 4.50% |  | 7/1/2040 | A3 | 1100000 | 1078251 |
| Clinton County Capital Resource Corp. - Clinton-Essex-Warren-Washington Board of Cooperative Educational Services NY<sup>†</sup> | 4.75% |  | 7/1/2043 | A3 | 1100000 | 1044888 |
| Connecticut State Health & Educational Facilities Authority - Quinnipiac University | 5.00% |  | 7/1/2033 | A- | 8230000 | 8231221 |
| County of Frederick - Mount St Mary's University Inc MD<sup>†</sup> | 5.00% |  | 9/1/2027 | BB+ | 1255000 | 1263224 |
| County of Frederick - Mount St Mary's University Inc MD<sup>†</sup> | 5.00% |  | 9/1/2032 | BB+ | 2400000 | 2405373 |
| County of Lincoln - Augustana College Association SD | 4.00% |  | 8/1/2041 | BBB- | 500000 | 426812 |
| Development Authority Of The City Of Marietta - Life University Inc GA<sup>†</sup> | 5.00% |  | 11/1/2027 | Ba3 | 1545000 | 1551481 |
| Development Authority Of The City Of Marietta - Life University Inc GA<sup>†</sup> | 5.00% |  | 11/1/2037 | Ba3 | 1500000 | 1429937 |
| Dutchess County Local Development Corp. - Bard College NY | 5.00% |  | 7/1/2040 | BBB- | 1150000 | 1168561 |
| Dutchess County Local Development Corp. - Bard College NY | 5.00% |  | 7/1/2045 | BBB- | 2000000 | 1990397 |
| Florida Higher Educational Facilities Financing Authority - Keiser University Obligated Group<sup>†(d)</sup> | 6.00% |  | 7/1/2045 | BB+ | 15000000 | 14967633 |
| Illinois Finance Authority - Illinois Institute of Technology | 4.00% |  | 9/1/2035 | Ba2 | 2600000 | 2328100 |
| Illinois Finance Authority - Illinois Institute of Technology | 5.00% |  | 9/1/2030 | Ba2 | 625000 | 632046 |

---

<br> *See Notes to Schedule of Investments.* 23

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |  |
| Illinois Finance Authority - Illinois Institute of Technology | 5.00% |  | 9/1/2031 | Ba2 | $1100000 | $1108663 |
| Illinois Finance Authority - Illinois Institute of Technology | 5.00% |  | 9/1/2032 | Ba2 | 1100000 | 1104580 |
| Illinois Finance Authority - Illinois Institute of Technology | 5.00% |  | 9/1/2033 | Ba2 | 1000000 | 999074 |
| Illinois Finance Authority - Illinois Institute of Technology | 5.00% |  | 9/1/2034 | Ba2 | 3720000 | 3679637 |
| Illinois Finance Authority - Illinois Institute of Technology | 5.00% |  | 9/1/2036 | Ba2 | 3225000 | 3117155 |
| Illinois Finance Authority - Noble Network of Charter Schools | 5.00% |  | 9/1/2025 | BBB | 325000 | 326023 |
| Illinois Finance Authority - University of Chicago/The | 4.00% |  | 10/1/2038 | Aa2 | 7835000 | 7429026 |
| Indiana Finance Authority - Ohio Valley Electric Corp | 4.25% |  | 11/1/2030 | Baa3 | 14550000 | 14832004 |
| Industrial Development Authority of the City of Phoenix Arizona - BASIS Schools Inc Obligated Group AZ<sup>†</sup> | 5.00% |  | 7/1/2035 | BB | 2350000 | 2350527 |
| IPS Multi-School Building Corp. - Indianapolis Board of School Commissioners IN (ST INTERCEPT) | 5.00% |  | 7/15/2041 | Aa2 | 2125000 | 2217801 |
| Lehigh County General Purpose Authority - Muhlenberg College PA | 5.00% |  | 2/1/2039 | A3 | 6495000 | 6511594 |
| Massachusetts Development Finance Agency - President and Fellows of Harvard College | 5.00% | <sup>#(a)</sup> | 5/15/2055 | AAA | 13000000 | 14598467 |
| Massachusetts Development Finance Agency - Suffolk University | 5.50% |  | 7/1/2041 | Baa3 | 4125000 | 4259492 |
| Massachusetts Development Finance Agency - Suffolk University | 5.50% |  | 7/1/2045 | Baa3 | 2350000 | 2382773 |
| Miami-Dade County Educational Facilities Authority - University of Miami FL | 5.00% |  | 4/1/2041 | A2 | 5000000 | 5181564 |
| Miami-Dade County Educational Facilities Authority - University of Miami FL | 5.00% |  | 4/1/2042 | A2 | 16000000 | 16405859 |
| New Jersey Institute of Technology (BAM) | 5.00% |  | 7/1/2036 | AA | 1000000 | 1123888 |
| New Jersey Institute of Technology (BAM) | 5.00% |  | 7/1/2038 | AA | 1400000 | 1534674 |
| New Jersey Institute of Technology (BAM) | 5.00% |  | 7/1/2039 | AA | 1500000 | 1629841 |
| New Jersey Institute of Technology (BAM) | 5.00% |  | 7/1/2040 | AA | 1200000 | 1292463 |

---

<br> 24 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| New Jersey Institute of Technology (BAM) | 5.00% | 7/1/2041 | AA | $2000000 | $2131162 |
| New Jersey Institute of Technology (BAM) | 5.00% | 7/1/2042 | AA | 2125000 | 2242636 |
| New Jersey Institute of Technology (BAM) | 5.00% | 7/1/2043 | AA | 4000000 | 4192028 |
| New York State Dormitory Authority - Barnard College | 5.25% | 7/1/2038 | A | 4000000 | 4308631 |
| New York State Dormitory Authority - Barnard College | 5.25% | 7/1/2039 | A | 5300000 | 5655071 |
| New York State Dormitory Authority - Barnard College | 5.25% | 7/1/2040 | A | 5345000 | 5645111 |
| New York State Dormitory Authority - Barnard College | 5.25% | 7/1/2041 | A | 5000000 | 5213177 |
| New York State Dormitory Authority - Barnard College | 5.25% | 7/1/2042 | A | 4230000 | 4361930 |
| New York State Dormitory Authority - Icahn School of Medicine Mount Sinai | 5.00% | 7/1/2027 | BBB+ | 10000000 | 10004032 |
| New York State Dormitory Authority - New School | 5.00% | 7/1/2035 | A3 | 5345000 | 5421816 |
| New York State Dormitory Authority - New School/The | 5.00% | 7/1/2036 | A3 | 4405000 | 4460218 |
| New York State Dormitory Authority - New School/The | 5.00% | 7/1/2037 | A3 | 7800000 | 7881522 |
| New York State Dormitory Authority - New York University | 5.00% | 7/1/2036 | Aa2 | 25000000 | 27896320 |
| New York State Dormitory Authority - New York University | 5.00% | 7/1/2037 | Aa2 | 25000000 | 27644785 |
| New York State Dormitory Authority - New York University | 5.00% | 7/1/2038 | Aa2 | 25000000 | 27318095 |
| New York State Dormitory Authority - New York University | 5.00% | 7/1/2042 | Aa2 | 18295000 | 19247344 |
| New York State Dormitory Authority - Yeshiva University | 5.00% | 7/15/2031 | BBB- | 2705000 | 2891676 |
| New York State Dormitory Authority - Yeshiva University | 5.00% | 7/15/2037 | BBB- | 11000000 | 11342337 |
| New York State Dormitory Authority (AG) | 5.00% | 10/1/2031 | AA | 10000 | 10715 |
| New York State Dormitory Authority (AG), (ST AID WITHHLDG) | 5.00% | 10/1/2032 | AA | 11750000 | 13210489 |
| New York State Dormitory Authority (AG), (ST AID WITHHLDG) | 5.00% | 10/1/2034 | AA | 5750000 | 6520353 |
| New York State Dormitory Authority (AG), (ST AID WITHHLDG) | 5.00% | 10/1/2036 | AA | 4750000 | 5253072 |

---

<br> *See Notes to Schedule of Investments.* 25

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |  |
| New York State Dormitory Authority (AG), (ST AID WITHHLDG) | 5.00% |  | 10/1/2037 | AA | $9200000 | $9766117 |
| Ohio Air Quality Development Authority - Duke Energy Corp | 4.00% | <sup>#(a)</sup> | 9/1/2030 | BBB | 4175000 | 4220320 |
| Ohio Higher Educational Facility Commission - University of Dayton | 5.00% |  | 2/1/2040 | A+ | 1100000 | 1161647 |
| Ohio Higher Educational Facility Commission - University of Dayton | 5.00% |  | 2/1/2041 | A+ | 1300000 | 1360418 |
| Ohio Higher Educational Facility Commission - University of Dayton | 5.00% |  | 2/1/2042 | A+ | 1700000 | 1761253 |
| Ohio Higher Educational Facility Commission - Xavier University | 5.00% |  | 5/1/2032 | Baa1 | 1270000 | 1379123 |
| Ohio Higher Educational Facility Commission - Xavier University | 5.00% |  | 5/1/2034 | Baa1 | 2175000 | 2369953 |
| Ohio Higher Educational Facility Commission - Xavier University | 5.00% |  | 5/1/2036 | Baa1 | 2320000 | 2470321 |
| Ohio Higher Educational Facility Commission - Xavier University | 5.00% |  | 5/1/2037 | Baa1 | 1415000 | 1490169 |
| Ohio Higher Educational Facility Commission - Xavier University | 5.00% |  | 5/1/2040 | Baa1 | 1575000 | 1617354 |
| Ohio Higher Educational Facility Commission - Xavier University | 5.00% |  | 5/1/2042 | Baa1 | 1575000 | 1589184 |
| Sierra Vista Industrial Development Authority - American Leadership Academy Inc AZ<sup>†</sup> | 5.00% |  | 6/15/2044 | NR | 2000000 | 1911052 |
| State of Nevada Department of Business & Industry - Somerset Academy NLV Building 1 / Sky Pointe / Stephanie / Losee Campuses<sup>†</sup> | 4.50% |  | 12/15/2029 | BB | 395000 | 395246 |
| State of Nevada Department of Business & Industry - Somerset Academy NLV Building 1 / Sky Pointe / Stephanie / Losee Campuses<sup>†</sup> | 5.00% |  | 12/15/2038 | BB | 1000000 | 974349 |
| University of Illinois | 5.00% |  | 10/1/2035 | A2 | 885000 | 943583 |
| University of Illinois | 5.00% |  | 10/1/2036 | A2 | 920000 | 971765 |
| University of Illinois | 5.00% |  | 10/1/2037 | A2 | 800000 | 840441 |
| University of Illinois | 5.00% |  | 10/1/2038 | A2 | 800000 | 831975 |
| University of Illinois | 5.50% |  | 10/1/2039 | A2 | 1360000 | 1460828 |
| University of Illinois | 5.50% |  | 10/1/2042 | A2 | 1650000 | 1742477 |
| University of Illinois (AG) | 4.00% |  | 4/1/2033 | AA | 4905000 | 4947528 |
| University of Kentucky (ST INTERCEPT) | 4.75% |  | 4/1/2034 | AA+ | 3000000 | 3002726 |
| *Total* |  |  |  |  |  | 479896506 |

---

<br> 26 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Financial Services 0.03%** |  |  |  |  |  |  |
| Massachusetts Educational Financing Authority AMT | 3.625% |  | 7/1/2034 | AA | $140000 | $138823 |
| New Jersey Higher Education Student Assistance Authority AMT | 3.75% |  | 12/1/2030 | Aaa | 515000 | 514911 |
| New Jersey Higher Education Student Assistance Authority AMT | 4.00% |  | 12/1/2032 | Aaa | 425000 | 424717 |
| New Jersey Higher Education Student Assistance Authority AMT | 4.00% |  | 12/1/2034 | Aaa | 385000 | 384459 |
| *Total* |  |  |  |  |  | 1462910 |
| **General Obligation 10.65%** |  |  |  |  |  |  |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 12/1/2053 | A2 | 11335000 | 11843651 |
| California Community Choice Financing Authority | 5.50% | <sup>#(a)</sup> | 5/1/2054 | A2 | 10000000 | 10526403 |
| California State Public Works Board - State of California Department of General Services | 5.00% |  | 4/1/2040 | Aa3 | 4200000 | 4518617 |
| California State Public Works Board - State of California Department of General Services | 5.00% |  | 4/1/2041 | Aa3 | 3550000 | 3788056 |
| California State Public Works Board - State of California Department of General Services | 5.00% |  | 4/1/2042 | Aa3 | 6035000 | 6393066 |
| Chabot-Las Positas Community College District CA GO | 3.00% |  | 8/1/2038 | AA | 2500000 | 2162814 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2029 | BB+ | 3000000 | 3058542 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2031 | BB+ | 1500000 | 1517085 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2033 | BB+ | 900000 | 905200 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2034 | BB+ | 475000 | 475773 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2035 | BB+ | 450000 | 447095 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2036 | BB+ | 7300000 | 7377205 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2039 | BB+ | 2340000 | 2308126 |
| Chicago Board of Education IL GO | 5.50% |  | 12/1/2037 | BB+ | 2000000 | 2087498 |
| Chicago Board of Education IL GO | 5.50% |  | 12/1/2038 | BB+ | 2250000 | 2335282 |
| Chicago Board of Education IL GO<sup>†</sup> | 6.75% |  | 12/1/2030 | BB+ | 5000000 | 5332316 |
| City of Bellevue WA GO | 4.00% |  | 12/1/2030 | AAA | 5590000 | 5592371 |
| City of Chicago IL GO | 5.00% |  | 1/1/2031 | BBB | 2210000 | 2220288 |
| City of Chicago IL GO | 5.00% |  | 1/1/2042 | BBB | 34540000 | 33588685 |
| City of Chicago IL GO | 5.50% |  | 1/1/2039 | BBB | 6000000 | 6176998 |

---

<br> *See Notes to Schedule of Investments.* 27

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  |  |  |  |
| City of Chicago IL GO | 5.50% |  | 1/1/2041 | BBB | $5000000 | $5159466 |
| City of Chicago IL GO | 5.50% |  | 1/1/2049 | BBB | 3750000 | 3724245 |
| City of Chicago IL GO | 6.00% |  | 1/1/2043 | BBB | 3000000 | 3165003 |
| City of Chicago IL GO | 6.00% |  | 1/1/2050 | BBB | 4450000 | 4594470 |
| City of Frisco TX GO | 5.00% |  | 2/15/2041 | AAA | 4445000 | 4695256 |
| City of Houston TX GO | 5.00% |  | 3/1/2036 | Aa3 | 1800000 | 1962297 |
| City of Houston TX GO | 5.00% |  | 3/1/2038 | Aa3 | 1000000 | 1071345 |
| City of Houston TX GO | 5.00% |  | 3/1/2041 | AA | 3750000 | 3919987 |
| City of Houston TX GO | 5.25% |  | 3/1/2039 | Aa3 | 4610000 | 4966909 |
| City of Houston TX GO | 5.25% |  | 3/1/2040 | Aa3 | 5800000 | 6184371 |
| City of Hutto TX GO (BAM) | 5.00% |  | 8/1/2040 | AA | 2145000 | 2280960 |
| City of Hutto TX GO (BAM) | 5.00% |  | 8/1/2041 | AA | 3500000 | 3687849 |
| City of New Orleans LA GO | 4.00% |  | 10/1/2036 | A+ | 2290000 | 2294543 |
| City of New York NY GO | 5.00% |  | 6/1/2035 | AA | 10000 | 10015 |
| City of New York NY GO | 5.00% |  | 10/1/2036 | AA | 1250000 | 1351577 |
| City of New York NY GO | 5.00% |  | 4/1/2040 | AA | 2000000 | 2130401 |
| Clark County School District NV GO | 5.00% |  | 6/15/2041 | AA- | 10645000 | 11080600 |
| Commonwealth of Puerto Rico GO | Zero Coupon |  | 7/1/2033 | NR | 1727569 | 1196426 |
| Commonwealth of Puerto Rico GO | Zero Coupon | <sup>#(a)</sup> | 11/1/2043 | NR | 5553797 | 3422527 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2035 | NR | 11385659 | 10972841 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2037 | NR | 3035632 | 2895188 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2041 | NR | 5000000 | 4448460 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2046 | NR | 1917657 | 1640681 |
| Commonwealth of Puerto Rico GO | 5.625% |  | 7/1/2027 | NR | 11481543 | 11818405 |
| Commonwealth of Puerto Rico GO | 5.625% |  | 7/1/2029 | NR | 5336508 | 5631410 |
| Commonwealth of Puerto Rico GO | 5.75% |  | 7/1/2031 | NR | 1415665 | 1527904 |
| County of Clark NV GO | 3.00% |  | 7/1/2038 | AAA | 4000000 | 3399489 |
| County of Howard MD GO | 3.00% |  | 8/15/2037 | AAA | 2255000 | 2010433 |
| Delaware Valley Regional Finance Authority PA | 2.32%<br> (MUNIPSA \* 1 + .40% |)<sup>#</sup> | 3/1/2057 | A+ | 5000000 | 4977995 |
| Denton Independent School District TX GO (PSF-GTD) | 5.00% |  | 8/15/2039 | AAA | 5500000 | 5863137 |
| Jackson County School District GA GO (ST AID WITHHLDG) | 5.00% |  | 3/1/2036 | AA+ | 3000000 | 3374759 |
| Jackson County School District GA GO (ST AID WITHHLDG) | 5.00% |  | 3/1/2037 | AA+ | 6500000 | 7241582 |
| Jackson County School District GA GO (ST AID WITHHLDG) | 5.00% |  | 3/1/2038 | AA+ | 5000000 | 5509855 |

---

<br> 28 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  |  |  |
| Jackson County School District GA GO (ST AID WITHHLDG) | 5.00% | 3/1/2039 | AA+ | $5000000 | $5457270 |
| Janesville School District WI GO | 5.00% | 3/1/2034 | Aa2 | 2755000 | 3064517 |
| Janesville School District WI GO | 5.00% | 3/1/2035 | Aa2 | 2500000 | 2753036 |
| Janesville School District WI GO | 5.00% | 3/1/2036 | Aa2 | 5575000 | 6066001 |
| Janesville School District WI GO | 5.00% | 3/1/2037 | Aa2 | 3160000 | 3408830 |
| Louisiana Stadium & Exposition District | 5.00% | 7/1/2038 | A2 | 7345000 | 7857721 |
| Louisiana Stadium & Exposition District | 5.00% | 7/1/2039 | A2 | 6550000 | 6928429 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2037 | A2 | 4000000 | 4267904 |
| New Jersey Transportation Trust Fund Authority | 5.25% | 6/15/2036 | A2 | 2000000 | 2183448 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.00% | 6/15/2037 | A2 | 4000000 | 4267904 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 4.00% | 2/1/2039 | AAA | 11820000 | 11543685 |
| New York State Dormitory Authority (BAM) | 5.00% | 10/1/2035 | AA | 5000000 | 5355997 |
| Palm Beach County School District FL COPS | 5.00% | 8/1/2037 | Aa3 | 1000000 | 1086751 |
| Palm Beach County School District FL COPS | 5.00% | 8/1/2038 | Aa3 | 2375000 | 2554062 |
| Palm Beach County School District FL COPS | 5.00% | 8/1/2039 | Aa3 | 2250000 | 2401893 |
| Pennsylvania Economic Development Financing Authority - Commonwealth of Pennsylvania Department of Transportation AMT | 5.25% | 6/30/2035 | Baa2 | 5250000 | 5642451 |
| Pennsylvania Economic Development Financing Authority - Commonwealth of Pennsylvania Department of Transportation AMT | 5.25% | 6/30/2036 | Baa2 | 8550000 | 9111622 |
| Pennsylvania Economic Development Financing Authority - Commonwealth of Pennsylvania Department of Transportation AMT | 5.50% | 6/30/2037 | Baa2 | 5575000 | 5980515 |
| Pennsylvania Economic Development Financing Authority - Commonwealth of Pennsylvania Department of Transportation AMT | 5.50% | 6/30/2038 | Baa2 | 6200000 | 6585910 |
| School District of Philadelphia PA GO (ST AID WITHHLDG) | 5.00% | 9/1/2028 | Aa3 | 500000 | 529646 |
| Sheboygan Area School District WI GO | 3.00% | 3/1/2039 | Aa1 | 2005000 | 1722417 |
| Sheboygan Area School District WI GO | 3.00% | 3/1/2040 | Aa1 | 2000000 | 1677885 |
| Sheboygan Area School District WI GO | 3.00% | 3/1/2041 | Aa1 | 2425000 | 1983799 |

---

<br> *See Notes to Schedule of Investments.* 29

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  |  |  |
| State of California GO | 4.00% | 8/1/2035 | Aa2 | $20000000 | $20002866 |
| State of California GO | 5.00% | 3/1/2042 | Aa2 | 4925000 | 5282703 |
| State of Connecticut GO | 3.00% | 1/15/2037 | AA- | 5090000 | 4489360 |
| State of Connecticut GO | 4.00% | 6/15/2037 | AA- | 775000 | 765006 |
| State of Connecticut GO | 5.00% | 6/15/2035 | AA- | 1125000 | 1171746 |
| State of Illinois GO | 4.00% | 10/1/2034 | A- | 5000000 | 4919822 |
| State of Illinois GO | 4.00% | 10/1/2035 | A- | 5000000 | 4861426 |
| State of Illinois GO | 5.00% | 2/1/2028 | A- | 13620000 | 13972054 |
| State of Illinois GO | 5.00% | 11/1/2029 | A- | 2800000 | 2857137 |
| State of Illinois GO | 5.00% | 11/1/2032 | A- | 9200000 | 9348575 |
| State of Illinois GO | 5.00% | 10/1/2033 | A- | 5000000 | 5180217 |
| State of Illinois GO | 5.00% | 5/1/2040 | A- | 6000000 | 6182045 |
| State of Illinois GO | 5.00% | 5/1/2041 | A- | 6000000 | 6122961 |
| State of Illinois GO | 5.00% | 12/1/2042 | A- | 11320000 | 11487251 |
| State of Illinois GO | 5.25% | 10/1/2036 | A- | 17540000 | 18766919 |
| State of Illinois GO | 5.25% | 5/1/2042 | A- | 15000000 | 15513786 |
| State of Illinois GO | 5.25% | 5/1/2043 | A- | 7830000 | 8043591 |
| State of Illinois GO | 5.50% | 5/1/2039 | A- | 11000000 | 11527486 |
| State of New Jersey GO | 2.00% | 6/1/2029 | A1 | 5000000 | 4716505 |
| State of West Virginia GO | 5.00% | 12/1/2034 | Aa2 | 5000000 | 5223570 |
| Town of Oyster Bay NY GO (AG) | 2.00% | 3/1/2030 | AA | 2125000 | 1950902 |
| Town of Oyster Bay NY GO (AG) | 2.00% | 3/1/2031 | AA | 2040000 | 1832328 |
| Washington Metropolitan Area Transit Authority Dedicated Revenue DC | 5.00% | 7/15/2039 | AA | 4400000 | 4697209 |
| Washington Metropolitan Area Transit Authority Dedicated Revenue DC | 5.00% | 7/15/2041 | AA | 7000000 | 7339581 |
| *Total* |  |  |  |  | 529552196 |
| **Health Care 16.15%** |  |  |  |  |  |
| Allegheny County Hospital Development Authority - Allegheny Health Network Obligated Group PA | 5.00% | 4/1/2031 | A | 16000000 | 16643450 |
| Antelope Valley Healthcare District Obligated Group CA | 5.00% | 3/1/2031 | BBB | 7000000 | 7029323 |
| Arizona Industrial Development Authority - Navajo Health Foundation- Sage Memorial Hospital Inc Obligated Group<sup>†</sup> | 7.125% | 5/1/2044 | NR | 3875000 | 4103180 |

---

<br> 30 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Astoria Hospital Facilities Authority - Columbia Lutheran Charities Obligated Group OR | 5.00% | 8/1/2034 | BBB | $12250000 | $13369384 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | Zero Coupon | 6/30/2044 | NR | 5774000 | 4183682 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 5.00% | 6/30/2039 | NR | 11556000 | 10678038 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 6.00% | 6/30/2034 | NR | 861962 | 912834 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 8.00% | 6/30/2034 | NR | 1720232 | 1757535 |
| Board of Managers Joint Guadalupe County-City of Seguin Hospital TX | 5.25% | 12/1/2035 | BB | 3000000 | 3002845 |
| Brevard County Health Facilities Authority - Health First Inc Obligated Group FL | 5.00% | 4/1/2038 | A | 7000000 | 7522500 |
| Brevard County Health Facilities Authority - Health First Inc Obligated Group FL | 5.00% | 4/1/2039 | A | 5500000 | 5847516 |
| Bucks County Industrial Development Authority - Grand View Hospital/Sellersville Obligated Group PA | 5.00% | 7/1/2030 | B+ | 2075000 | 2186391 |
| Bucks County Industrial Development Authority - Grand View Hospital/Sellersville Obligated Group PA | 5.00% | 7/1/2031 | B+ | 1150000 | 1218388 |
| Bucks County Industrial Development Authority - Grand View Hospital/Sellersville Obligated Group PA | 5.00% | 7/1/2032 | B+ | 1000000 | 1054116 |
| California Health Facilities Financing Authority - Adventist Health System/West Obligated Group | 5.25% | 12/1/2040 | BBB+ | 3000000 | 3095851 |
| California Health Facilities Financing Authority - Adventist Health System/West Obligated Group | 5.25% | 12/1/2041 | BBB+ | 3000000 | 3070608 |
| California Health Facilities Financing Authority - Adventist Health System/West Obligated Group | 5.25% | 12/1/2042 | BBB+ | 5500000 | 5584883 |
| California Health Facilities Financing Authority - Adventist Health System/West Obligated Group CA | 5.00% | 12/1/2037 | BBB+ | 5000000 | 5202041 |

---

<br> *See Notes to Schedule of Investments.* 31

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| California Health Facilities Financing Authority - Providence St Joseph Health Obligated Group | 2.00% | <sup>#(a)</sup> | 10/1/2036 | A | $10640000 | $10612972 |
| California Health Facilities Financing Authority - Providence St Joseph Health Obligated Group<sup>(d)</sup> | 5.25% | <sup>#(a)</sup> | 10/1/2050 | A | 6000000 | 6624967 |
| California Municipal Finance Authority - Eisenhower Medical Center | 5.00% |  | 7/1/2033 | Baa2 | 4015000 | 4072721 |
| California Municipal Finance Authority - Palomar Health Obligated Group COPS<sup>†</sup> | 5.00% |  | 11/1/2027 | B | 5000000 | 4662647 |
| California Statewide Communities Development Authority - John Muir Health Obligated Group | 5.00% |  | 12/1/2043 | A+ | 4510000 | 4658341 |
| California Statewide Communities Development Authority - John Muir Health Obligated Group | 5.25% |  | 12/1/2042 | A+ | 3510000 | 3722442 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.00% |  | 12/1/2033 | BB | 1000000 | 1014604 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group | 5.25% |  | 12/1/2034 | BB | 5000000 | 5002531 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.25% |  | 12/1/2038 | BB | 1500000 | 1506798 |
| Chattanooga Health Educational & Housing Facility Board - Erlanger Health Obligated Group TN | 5.25% |  | 12/1/2041 | A | 1000000 | 1043633 |
| Chattanooga Health Educational & Housing Facility Board - Erlanger Health Obligated Group TN | 5.25% |  | 12/1/2042 | A | 3025000 | 3125764 |
| Citizens Memorial Hospital District MO | 5.00% |  | 12/1/2026 | NR | 8825000 | 8869020 |
| City of Atlantic Beach - Naval Continuing Care Retirement Foundation Obligated Group FL | 5.00% |  | 11/15/2028 | BBB <sup>(c)</sup> | 1655000 | 1656293 |
| City of Blaine - Crest View Obligated Group MN<sup>(b)</sup> | 5.125% |  | 7/1/2025 | NR | 688161 | 378489 |
| City of Colby KS - Citizens Medical Center Inc | 5.50% |  | 7/1/2026 | NR | 11100000 | 11126782 |
| City of Minneapolis/St. Paul Housing & Redevelopment Authority - Children's Health Care Obligated Group MN | 5.00% |  | 8/15/2040 | AA- | 2100000 | 2224141 |

---

<br> 32 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| City of Minneapolis/St. Paul Housing & Redevelopment Authority - Children's Health Care Obligated Group MN | 5.00% |  | 8/15/2041 | AA- | $3000000 | $3144592 |
| City of Minneapolis/St. Paul Housing & Redevelopment Authority - Children's Health Care Obligated Group MN | 5.00% |  | 8/15/2042 | AA- | 2750000 | 2853586 |
| City of Seneca - Nemaha Valley Community Hospital KS | 5.00% |  | 9/1/2025 | NR | 5500000 | 5501853 |
| City of South Miami Health Facilities Authority, Inc. - Baptist Health South Florida Foundation Inc FL | 5.00% |  | 8/15/2037 | AA- | 4000000 | 4073452 |
| City of St. Cloud - CentraCare Health System Obligated Group MN | 5.00% |  | 5/1/2041 | A2 | 3000000 | 3097212 |
| Colorado Health Facilities Authority - CommonSpirit Health Obligated Group | 5.00% | <sup>#(a)</sup> | 8/1/2049 | A- | 2345000 | 2348948 |
| Colorado Health Facilities Authority - CommonSpirit Health Obligated Group | 5.25% |  | 11/1/2038 | A- | 2095000 | 2220729 |
| Connecticut State Health & Educational Facilities Authority - Griffin Health Obligated Group<sup>†</sup> | 5.00% |  | 7/1/2034 | BB+ | 225000 | 227484 |
| Connecticut State Health & Educational Facilities Authority - Griffin Health Obligated Group<sup>†</sup> | 5.00% |  | 7/1/2039 | BB+ | 1000000 | 967344 |
| County of Cuyahoga - MetroHealth System OH | 5.00% |  | 2/15/2037 | BBB | 6400000 | 6402873 |
| County of Montgomery - Premier Health Partners Obligated Group OH | 4.00% |  | 11/15/2039 | Baa1 | 6000000 | 5496327 |
| County of Muskingum - Genesis Healthcare Obligated Group OH | 5.00% |  | 2/15/2033 | BB+ | 12355000 | 12403805 |
| County of Washington - Marietta Area Health Care Inc Obligated Group OH | 5.50% |  | 12/1/2027 | NR | 6680000 | 6750040 |
| County of Washington - Marietta Area Health Care Inc Obligated Group OH | 6.375% |  | 12/1/2037 | NR | 10000000 | 10535406 |
| County of Washington - Marietta Area Health Care Inc Obligated Group OH | 6.625% |  | 12/1/2042 | NR | 2540000 | 2634911 |
| Crawford County Hospital Authority - Meadville Medical Center Obligated Group PA | 6.00% |  | 6/1/2036 | NR | 3830000 | 3865108 |
| District of Columbia - Children's National Medical Center Obligated Group | 5.00% |  | 7/15/2034 | A1 | 5000000 | 5027076 |
| Doylestown Hospital Authority - Doylestown Hospital Obligated Group PA<sup>†</sup> | 5.00% |  | 7/1/2031 | NR | 985000 | 1038559 |

---

<br> *See Notes to Schedule of Investments.* 33

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| Doylestown Hospital Authority - Doylestown Hospital Obligated Group PA<sup>†</sup> | 5.375% |  | 7/1/2039 | NR | $2000000 | $2123161 |
| Franklin County Industrial Development Authority - Menno-Haven Inc Obligated Group PA | 5.00% |  | 12/1/2031 | NR | 1000000 | 1006680 |
| Franklin County Industrial Development Authority - Menno-Haven Inc Obligated Group PA | 5.00% |  | 12/1/2033 | NR | 1000000 | 1001099 |
| Glendale Industrial Development Authority - Beatitudes Campus Obligated Group AZ | 5.00% |  | 11/15/2036 | NR | 1500000 | 1172643 |
| Greater Texas Cultural Education Facilities Finance Corp. - Texas Biomedical Research Institute TX | 5.00% |  | 6/1/2039 | Baa2 | 3900000 | 4020163 |
| Greater Texas Cultural Education Facilities Finance Corp. - Texas Biomedical Research Institute TX | 5.00% |  | 6/1/2040 | Baa2 | 4040000 | 4120028 |
| Greater Texas Cultural Education Facilities Finance Corp. - Texas Biomedical Research Institute TX | 5.00% |  | 6/1/2042 | Baa2 | 3990000 | 3994830 |
| Greeneville Health & Educational Facilities Board - Ballad Health Obligated Group TN | 5.00% |  | 7/1/2035 | A- | 10510000 | 10779475 |
| Greeneville Health & Educational Facilities Board - Ballad Health Obligated Group TN | 5.00% |  | 7/1/2036 | A- | 8500000 | 8687505 |
| Greeneville Health & Educational Facilities Board - Ballad Health Obligated Group TN | 5.00% |  | 7/1/2037 | A- | 16655000 | 16968925 |
| Harris County Cultural Education Facilities Finance Corp. - Brazos Presbyterian Homes Obligated Group TX | 6.375% |  | 1/1/2033 | BB+ <sup>(c)</sup> | 120000 | 120228 |
| Harris County Cultural Education Facilities Finance Corp. - Memorial Hermann Health System Obligated Group TX | 5.00% |  | 7/1/2039 | AA- | 2500000 | 2645912 |
| Harris County Cultural Education Facilities Finance Corp. - Memorial Hermann Health System Obligated Group TX | 5.00% |  | 7/1/2040 | AA- | 1500000 | 1574865 |
| Health & Educational Facilities Authority of the State of Missouri - BJC Healthcare Obligated Group | 5.00% | <sup>#(a)</sup> | 4/1/2059 | AA | 13000000 | 14248257 |
| Health & Educational Facilities Authority of the State of Missouri - SSM Health Care Obligated Group WA | 5.00% | <sup>#(a)</sup> | 6/1/2039 | A+ | 3150000 | 3313940 |

---

<br> 34 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Hillsborough County Industrial Development Authority - BayCare Obligated Group FL | 5.00% | 11/15/2042 | Aa2 | $5000000 | $5219365 |
| Hospitals & Higher Education Facilities Authority of Philadelphia - Temple University Health Obligated Group PA | 5.00% | 7/1/2032 | BBB | 4055000 | 4113714 |
| Illinois Finance Authority - Advocate Aurora Health Obligated Group | 4.00% | 8/1/2038 | AA | 9870000 | 9144269 |
| Illinois Finance Authority - Ascension Health Credit Group | 4.00% | 2/15/2033 | NR | 3540000 | 3610402 |
| Illinois Finance Authority - Ascension Health Credit Group | 4.00% | 2/15/2033 | AA | 1460000 | 1466443 |
| Illinois Finance Authority - Rush Obligated Group | 5.00% | 11/15/2031 | A+ | 6025000 | 6027624 |
| Illinois Finance Authority - Rush Obligated Group | 5.00% | 11/15/2033 | A+ | 2500000 | 2500238 |
| Illinois Finance Authority - Rush Obligated Group | 5.00% | 11/15/2034 | A+ | 3000000 | 3000091 |
| Iowa Finance Authority - Lifespace Communities Inc Obligated Group | 5.00% | 5/15/2039 | BBB <sup>(c)</sup> | 2500000 | 2519684 |
| Iowa Finance Authority - Lifespace Communities Inc Obligated Group | 5.00% | 5/15/2044 | BBB <sup>(c)</sup> | 3100000 | 2982503 |
| Kentucky Economic Development Finance Authority - Masonic Homes of Kentucky Inc Obligated Group | 5.375% | 11/15/2032 | NR | 1185000 | 1144682 |
| Kentucky Economic Development Finance Authority - Owensboro Health Inc Obligated Group | 5.00% | 6/1/2029 | Baa2 | 4235000 | 4320302 |
| Kentucky Economic Development Finance Authority - Owensboro Health Inc Obligated Group | 5.00% | 6/1/2032 | Baa2 | 6000000 | 6095136 |
| Louisiana Public Facilities Authority - Ochsner Clinic Foundation Obligated Group | 5.00% | 5/15/2030 | A | 9000000 | 9665447 |
| Louisville/Jefferson County Metropolitan Government - Norton Healthcare Obligated Group KY | 5.00% | 10/1/2040 | A | 3500000 | 3616474 |
| Maricopa County Industrial Development Authority - HonorHealth Obligated Group AZ | 5.00% | 9/1/2033 | A2 | 500000 | 521593 |

---

*See Notes to Schedule of Investments.* 35

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| Maricopa County Industrial Development Authority - HonorHealth Obligated Group AZ | 5.00% |  | 9/1/2034 | A2 | $1000000 | $1038491 |
| Maricopa County Industrial Development Authority - HonorHealth Obligated Group AZ | 5.00% |  | 9/1/2035 | A2 | 1000000 | 1033745 |
| Maricopa County Industrial Development Authority - HonorHealth Obligated Group AZ | 5.00% |  | 9/1/2036 | A2 | 1800000 | 1852753 |
| Maryland Health & Higher Educational Facilities Authority - University of Maryland Medical System Obligated Group | 5.00% | <sup>#(a)</sup> | 7/1/2045 | A | 5000000 | 5481034 |
| Massachusetts Development Finance Agency - Boston Medical Center Corp Obligated Group | 5.00% |  | 7/1/2034 | BBB | 5255000 | 5269001 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 4.00% |  | 7/1/2035 | BBB- | 2000000 | 1866065 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 4.00% |  | 7/1/2037 | BBB- | 3930000 | 3590789 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 5.00% |  | 7/1/2038 | BBB- | 3100000 | 3099174 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 5.00% |  | 7/1/2039 | BBB- | 2750000 | 2713511 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 8.50% |  | 10/1/2026 | BBB- | 8910000 | 8958735 |
| Massachusetts Development Finance Agency - UMass Memorial Health Care Obligated Group | 5.00% |  | 7/1/2035 | BBB+ | 12650000 | 13837096 |
| Miami Beach Health Facilities Authority - Mount Sinai Medical Center of Florida Obligated Group FL | 5.00% |  | 11/15/2030 | A2 | 2500000 | 2502229 |
| Michigan Finance Authority - McLaren Health Care Corp Obligated Group | 5.00% |  | 5/15/2033 | A1 | 4030000 | 4033058 |
| Michigan Finance Authority - McLaren Health Care Corp Obligated Group | 5.00% |  | 5/15/2035 | A1 | 4945000 | 4947163 |
| Michigan Finance Authority - McLaren Health Care Obligated Group | 5.00% |  | 5/15/2032 | A1 | 10390000 | 10400148 |
| Michigan Finance Authority Provident Group - HFH Energy LLC | 5.00% |  | 2/28/2038 | A3 | 2060000 | 2191336 |
| Michigan Finance Authority Provident Group - HFH Energy LLC | 5.25% |  | 2/29/2040 | A3 | 1400000 | 1471992 |

---

36 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| Michigan Finance Authority Provident Group - HFH Energy LLC | 5.25% |  | 2/28/2042 | A3 | $1860000 | $1923227 |
| Michigan State Hospital Finance Authority - Corewell Health Obligated Group | 5.00% | <sup>#(a)</sup> | 8/15/2055 | AA | 13000000 | 14056323 |
| Minnesota Agricultural & Economic Development Board - HealthPartners Obligated Group | 5.00% |  | 1/1/2041 | A | 4000000 | 4120661 |
| Minnesota Agricultural & Economic Development Board - HealthPartners Obligated Group | 5.00% |  | 1/1/2042 | A | 4985000 | 5070764 |
| Monroe County Hospital Authority - Centurion Foundation Lehigh Valley LLC PA<sup>†</sup> | 5.10% |  | 6/15/2039 | NR | 10000000 | 9539116 |
| Montgomery County Higher Education & Health Authority - Thomas Jefferson University Obligated Group PA | 4.00% |  | 9/1/2036 | A | 1350000 | 1307117 |
| Montgomery County Higher Education & Health Authority - Thomas Jefferson University Obligated Group PA | 4.00% |  | 9/1/2038 | A | 2250000 | 2141261 |
| Montgomery County Industrial Development Authority - Whitemarsh Continuing Care Retirement Community Obligated PA | 5.00% |  | 1/1/2030 | NR | 2000000 | 2000206 |
| Moon Industrial Development Authority - Baptist Homes Society Obligated Group PA | 5.125% |  | 7/1/2025 | NR | 1015000 | 1015000 |
| New Hampshire Business Finance Authority - NFA UH SPV LLC<sup>†</sup> | 5.625% |  | 12/15/2033 | NR | 4615000 | 4698262 |
| New Hampshire Business Finance Authority - Novant Health Obligated Group | 5.00% |  | 12/1/2035 | A+ | 5500000 | 5951082 |
| New Hampshire Business Finance Authority - Novant Health Obligated Group | 5.25% |  | 6/1/2042 | A+ | 5500000 | 5613755 |
| New Hope Cultural Education Facilities Finance Corp. - Bella Vida Forefront Living Obligated Group TX | 4.25% |  | 10/1/2030 | NR | 1500000 | 1501991 |
| New Jersey Health Care Facilities Financing Authority - RWJ Barnabas Health Obligated Group | 5.00% |  | 7/1/2041 | AA- | 12000000 | 12639640 |
| New Jersey Health Care Facilities Financing Authority - RWJ Barnabas Health Obligated Group | 5.00% |  | 7/1/2042 | AA- | 5000000 | 5212510 |

---

*See Notes to Schedule of Investments.* 37

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| New Jersey Health Care Facilities Financing Authority - St Joseph's Healthcare System Obligated Group | 5.00% | 7/1/2035 | BBB- | $3185000 | $3196289 |
| New Jersey Health Care Facilities Financing Authority - University Hospital (AG) | 5.00% | 7/1/2028 | AA | 2000000 | 2002604 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 4.00% | 7/1/2037 | B- | 1100000 | 968842 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 4.00% | 7/1/2039 | B- | 1000000 | 856626 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 4.00% | 7/1/2040 | B- | 850000 | 721687 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 5.00% | 7/1/2036 | B- | 1945000 | 1888945 |
| New York State Dormitory Authority - Garnet Health Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2026 | BB- | 1500000 | 1509090 |
| New York State Dormitory Authority - Garnet Health Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2029 | BB- | 2700000 | 2714038 |
| New York State Dormitory Authority - Garnet Health Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2030 | BB- | 1100000 | 1104351 |
| New York State Dormitory Authority - Garnet Health Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2031 | BB- | 1600000 | 1603979 |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.25% | 11/1/2041 | BBB- | 1750000 | 1803236 |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.25% | 11/1/2042 | BBB- | 1500000 | 1532932 |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.25% | 11/1/2043 | BBB- | 1400000 | 1422491 |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.50% | 11/1/2044 | BBB- | 1125000 | 1170728 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.00% | 10/1/2034 | BBB- | 1240000 | 1325474 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.00% | 10/1/2035 | BBB- | 1000000 | 1054864 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.00% | 10/1/2036 | BBB- | 1305000 | 1360819 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.00% | 10/1/2037 | BBB- | 1620000 | 1673111 |

---

38 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| New York State Dormitory Authority - White Plains Hospital Obligated Group (AG) | 5.25% | 10/1/2040 | AA | $1500000 | $1623824 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group (AG) | 5.25% | 10/1/2041 | AA | 1800000 | 1932075 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group (AG) | 5.25% | 10/1/2042 | AA | 3475000 | 3696573 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group (AG) | 5.25% | 10/1/2043 | AA | 1750000 | 1850841 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group (AG) | 5.25% | 10/1/2044 | AA | 1700000 | 1787610 |
| North Carolina Medical Care Commission - Penick Village Obligated Group | 4.25% | 9/1/2028 | NR | 1090000 | 1090237 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.00% | 8/15/2033 | BB | 3920000 | 4022641 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.00% | 8/15/2038 | BB | 10050000 | 10122564 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.25% | 8/15/2043 | BB | 6710000 | 6700856 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.50% | 8/15/2037 | NR | 2770000 | 2846662 |
| Orange County Health Facilities Authority - Orlando Health Obligated Group FL | 5.00% | 10/1/2037 | A+ | 2495000 | 2674186 |
| Orange County Health Facilities Authority - Orlando Health Obligated Group FL | 5.00% | 10/1/2038 | A+ | 1530000 | 1622034 |
| Orange County Health Facilities Authority - Orlando Health Obligated Group FL | 5.00% | 10/1/2040 | A+ | 4000000 | 4226894 |
| Orange County Health Facilities Authority - Orlando Health Obligated Group FL | 5.00% | 10/1/2041 | A+ | 3750000 | 3923233 |
| Orange County Health Facilities Authority - Orlando Health Obligated Group FL | 5.00% | 10/1/2042 | A+ | 5000000 | 5182289 |
| Palomar Health Obligated Group CA | 5.00% | 11/1/2036 | B | 5280000 | 4540377 |

---

*See Notes to Schedule of Investments.* 39

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| Pennsylvania Higher Educational Facilities Authority - Thomas Jefferson University Obligated Group | 4.00% |  | 11/1/2042 | A | $13960000 | $12595935 |
| Pennsylvania Higher Educational Facilities Authority - Thomas Jefferson University Obligated Group | 5.25% |  | 11/1/2040 | A | 5000000 | 5312872 |
| Pennsylvania Higher Educational Facilities Authority - Thomas Jefferson University Obligated Group | 5.25% |  | 11/1/2041 | A | 9000000 | 9452363 |
| Pennsylvania Higher Educational Facilities Authority - Thomas Jefferson University Obligated Group | 5.25% |  | 11/1/2043 | A | 6000000 | 6200366 |
| Philadelphia Authority for Industrial Development - Thomas Jefferson University Obligated Group | 5.00% |  | 9/1/2035 | A | 5000000 | 5055745 |
| Public Finance Authority - Proton International Alabama LLC WI<sup>†(b)</sup> | 6.85% |  | 10/1/2047 | NR | 1410000 | 141000 |
| Public Finance Authority - RBS Evolution LLC WI<sup>†</sup> | 10.00% |  | 11/1/2038 | NR | 3500000 | 3956755 |
| Shelby County Health Educational & Housing Facilities Board - Baptist Memorial Health Care Obligated Group TN | 5.00% | <sup>#(a)</sup> | 9/1/2049 | BBB+ | 8750000 | 9174826 |
| South Carolina Jobs-Economic Development Authority - Kiawah Life Plan Village Inc | 5.25% |  | 11/15/2028 | NR | 5700000 | 5704794 |
| South Carolina Jobs-Economic Development Authority - McLeod Health Obligated Group | 5.00% |  | 11/1/2043 | AA | 5000000 | 5011739 |
| South Carolina Jobs-Economic Development Authority - Novant Health Obligated Group | 5.25% |  | 11/1/2040 | A+ | 6500000 | 6877535 |
| South Carolina Jobs-Economic Development Authority - Novant Health Obligated Group | 5.25% |  | 11/1/2041 | A+ | 7500000 | 7867962 |
| Southeastern Ohio Port Authority - Marietta Area Healthcare Inc Obligated Group | 5.00% |  | 12/1/2035 | B <sup>(c)</sup> | 3850000 | 3527965 |
| Southeastern Ohio Port Authority - Marietta Area Healthcare Inc Obligated Group | 5.50% |  | 12/1/2029 | B <sup>(c)</sup> | 2085000 | 2084879 |
| Tarrant County Cultural Education Facilities Finance Corp. - Baylor Scott & White Health Obligated Group TX | 5.00% | <sup>#(a)</sup> | 11/15/2052 | Aa2 | 4000000 | 4305165 |

---

40 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| Tulsa County Industrial Authority - Montereau Obligated Group OK | 5.25% |  | 11/15/2037 | BBB- <sup>(c)</sup> | $1250000 | $1255913 |
| University of Kansas Hospital Authority - University of Kansas Health System Obligated Group KS | 5.00% |  | 9/1/2034 | AA- | 5000000 | 5008563 |
| Washington Health Care Facilities Authority - Multicare Health System Obligated Group | 5.00% |  | 8/15/2030 | A | 5000000 | 5001473 |
| Washington Health Care Facilities Authority - Multicare Health System Obligated Group | 5.00% |  | 8/15/2031 | A | 5000000 | 5000971 |
| Washington Health Care Facilities Authority - Multicare Health System Obligated Group | 5.00% | <sup>#(a)</sup> | 8/15/2055 | A | 20000000 | 21610544 |
| Washington Health Care Facilities Authority - Providence St Joseph Health Obligated Group | 4.00% | <sup>#(a)</sup> | 10/1/2042 | A | 13220000 | 13541686 |
| West Virginia Hospital Finance Authority - West Virginia United Health System Obligated Group | 4.00% |  | 6/1/2030 | A | 5500000 | 5528372 |
| Westchester County Local Development Corp. - New York Blood Center Inc NY | 5.00% |  | 7/1/2035 | Baa1 | 3000000 | 3230645 |
| Westchester County Local Development Corp. - New York Blood Center Inc NY | 5.00% |  | 7/1/2038 | Baa1 | 3075000 | 3233689 |
| Winchester Economic Development Authority - Valley Health Obligated Group VA | 5.00% |  | 1/1/2042 | A+ | 2500000 | 2555292 |
| Wisconsin Health & Educational Facilities Authority - Marshfield Clinic Health System Obligated Group | 5.00% |  | 2/15/2029 | A | 6170000 | 6540371 |
| Wisconsin Health & Educational Facilities Authority - Marshfield Clinic Health System Obligated Group | 5.00% |  | 2/15/2032 | A | 12500000 | 13583271 |
| Yuma Industrial Development Authority - Yuma Regional Medical Center Obligated Group AZ | 5.00% |  | 8/1/2041 | A | 1500000 | 1546254 |
| Yuma Industrial Development Authority - Yuma Regional Medical Center Obligated Group AZ (AG) | 5.25% |  | 8/1/2042 | AA | 2125000 | 2215430 |
| Yuma Industrial Development Authority - Yuma Regional Medical Center Obligated Group AZ (AG) | 5.25% |  | 8/1/2043 | AA | 2250000 | 2332752 |
| *Total* |  |  |  |  |  | 803365057 |

---

*See Notes to Schedule of Investments.* 41

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

 

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing 9.60%** |  |  |  |  |  |
| California Housing Finance Agency | 3.25% | 8/20/2036 | BBB | $7073215 | $6598098 |
| California Housing Finance Agency | 3.50% | 11/20/2035 | BBB+ | 5465552 | 5104927 |
| California Municipal Finance Authority - Park Western Housing LP (FNMA) | 2.65% | 8/1/2036 | Aa1 | 4192881 | 3519893 |
| Colorado Housing & Finance Authority (FHLMC), (FNMA), (GNMA)<sup>(d)</sup> | 6.25% | 5/1/2055 | AA | 10000000 | 11124295 |
| Colorado Housing & Finance Authority (FHLMC), (FNMA), (GNMA) | 6.50% | 5/1/2055 | AAA | 8300000 | 9356715 |
| Colorado Housing & Finance Authority (GNMA) | 6.00% | 5/1/2053 | AA | 11440000 | 12419870 |
| CSCDA Community Improvement Authority Westgate Apartments CA<sup>†</sup> | 3.00% | 6/1/2047 | NR | 5000000 | 3348921 |
| EP Cimarron Ventanas PFC TX | 4.125% | 12/1/2039 | A+ | 6315000 | 5998360 |
| Florida Housing Finance Corp. (FHLMC), (FNMA), (GNMA) | 6.25% | 7/1/2056 | Aaa | 7000000 | 7762158 |
| Illinois Housing Development Authority (FHLMC), (FNMA), (GNMA) | 6.25% | 10/1/2055 | Aaa | 15435000 | 17323711 |
| Indiana Finance Authority - CHF- Tippecanoe LLC | 5.00% | 6/1/2038 | BBB- | 1550000 | 1589610 |
| Indiana Finance Authority - CHF- Tippecanoe LLC | 5.00% | 6/1/2043 | BBB- | 2525000 | 2506824 |
| Industrial Development Authority of the City of Phoenix Arizona - Downtown Phoenix Student Housing LLC AZ | 5.00% | 7/1/2032 | Baa3 | 1080000 | 1102673 |
| Louisiana Housing Corp. (FHLMC), (FNMA), (GNMA) | 6.00% | 6/1/2055 | Aa1 | 3150000 | 3441712 |
| Maine State Housing Authority | 3.75% | 11/15/2038 | AA+ | 2940000 | 2710444 |
| Maryland Community Development Administration | 3.00% | 9/1/2039 | Aa1 | 10000000 | 8372495 |
| Michigan State Housing Development Authority | 3.10% | 12/1/2044 | AA+ | 10500000 | 8394990 |
| Michigan State Housing Development Authority | 6.25% | 6/1/2055 | AA+ | 9000000 | 9879474 |
| Michigan State Housing Development Authority | 6.25% | 12/1/2055 | AA+ | 16000000 | 17692318 |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% | 7/1/2054 | AA+ | 3545000 | 3840861 |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% | 1/1/2055 | AA+ | 9935000 | 11039961 |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% | 7/1/2055 | AA+ | 5500000 | 6168165 |

---

42 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing (continued)** |  |  |  |  |  |  |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% |  | 1/1/2056 | AA+ | $4375000 | $4844163 |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.50% |  | 1/1/2055 | AA+ | 3515000 | 3937779 |
| Mississippi Home Corp. (FHLMC), (FNMA), (GNMA) | 7.50% |  | 6/1/2044 | Aa1 | 625000 | 746426 |
| Mississippi Home Corp. (FHLMC), (FNMA), (GNMA) | 7.50% |  | 6/1/2049 | Aa1 | 940000 | 1123051 |
| Missouri Housing Development Commission (FHLMC), (FNMA), (GNMA) | 3.25% |  | 11/1/2052 | AA+ | 2120000 | 2096309 |
| Montana Board of Housing (FHLMC), (FNMA), (GNMA) | 5.75% |  | 6/1/2055 | AA+ | 8500000 | 9255265 |
| New Hampshire Business Finance Authority | 4.75% | <sup>#(a)</sup> | 6/20/2041 | AA- | 14500000 | 14568839 |
| New Jersey Housing & Mortgage Finance Agency | 6.00% |  | 10/1/2055 | AA | 3510000 | 3792596 |
| New York City Housing Development Corp. - 8 Spruce NY Owner LLC | 4.375% |  | 12/15/2031 | Baa3 | 750000 | 767487 |
| New York City Housing Development Corp. - 8 Spruce NY Owner LLC | 5.25% |  | 12/15/2031 | NR | 2100000 | 2150905 |
| New York State Housing Finance Agency - West 38TH Street LLC (FHLMC) | 3.57% | <sup>#(a)</sup> | 5/1/2042 | Aa1 | 22255000 | 22081226 |
| New York State Housing Finance Agency - West 62nd Street LLC | 3.60% | <sup>#(a)</sup> | 11/1/2044 | Aa1 | 23000000 | 22988298 |
| North Carolina Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% |  | 1/1/2055 | AA+ | 5230000 | 5656886 |
| North Carolina Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.50% |  | 1/1/2056 | AA+ | 12000000 | 13603728 |
| North Dakota Housing Finance Agency | 4.00% |  | 1/1/2051 | Aa1 | 5220000 | 5249211 |
| North Dakota Housing Finance Agency | 6.00% |  | 7/1/2055 | Aa1 | 6000000 | 6622586 |
| North Dakota Housing Finance Agency | 6.00% |  | 1/1/2056 | Aa1 | 3750000 | 4112204 |
| Ohio Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% |  | 3/1/2056 | Aa1 | 8330000 | 9185818 |
| Ohio Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 7.00% |  | 3/1/2049 | Aa1 | 3500000 | 4047124 |
| Ohio Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 7.50% |  | 3/1/2049 | Aa1 | 3000000 | 3584031 |
| Pennsylvania Housing Finance Agency | 3.50% |  | 4/1/2051 | AA+ | 1320000 | 1317239 |
| Pennsylvania Housing Finance Agency | 4.00% |  | 10/1/2049 | AA+ | 1080000 | 1080321 |
| Pennsylvania Housing Finance Agency<sup>(d)</sup> | 6.50% |  | 10/1/2055 | Aa1 | 20000000 | 22684358 |

---

*See Notes to Schedule of Investments.* 43

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing (continued)** |  |  |  |  |  |  |
| Pennsylvania Housing Finance Agency AMT | 3.65% |  | 10/1/2042 | AA+ | $2500000 | $2185734 |
| South Dakota Housing Development Authority (FHLMC), (FNMA), (GNMA) | 6.25% |  | 11/1/2056 | AAA | 8500000 | 9413880 |
| State of Oregon Housing & Community Services Department (FHLMC), (FNMA), (GNMA) | 6.25% |  | 7/1/2055 | Aa2 | 7250000 | 8092971 |
| Texas Department of Housing & Community Affairs (GNMA) | 5.50% |  | 7/1/2053 | AA+ | 4945000 | 5272135 |
| Texas Department of Housing & Community Affairs (GNMA) | 5.75% |  | 3/1/2054 | Aaa | 7035000 | 7596565 |
| Utah Housing Corp. (FHLMC), (FNMA), (GNMA) | 6.25% |  | 7/1/2055 | Aa2 | 13920000 | 15517358 |
| Utah Housing Corp. (FHLMC), (FNMA), (GNMA) | 6.50% |  | 7/1/2055 | Aa2 | 10055000 | 11191112 |
| Utah Housing Corp. (FHLMC), (FNMA), (GNMA)<sup>(d)</sup> | 6.75% |  | 7/1/2055 | Aa2 | 11000000 | 12560703 |
| Virginia Beach Development Authority - Westminster-Canterbury on Chesapeake Bay Obligated Group | 5.375% |  | 9/1/2029 | BB+ <sup>(c)</sup> | 5000000 | 5049387 |
| Virginia Housing Development Authority | 3.625% | <sup>#(a)</sup> | 7/1/2055 | AAA | 17555000 | 17555042 |
| Washington State Housing Finance Commission | 3.50% |  | 12/20/2035 | BBB+ | 4688691 | 4413061 |
| Washington State Housing Finance Commission - Provident Group - SH II Properties LLC (BAM)<sup>†</sup> | 5.00% |  | 7/1/2034 | AA | 1000000 | 1080133 |
| Washington State Housing Finance Commission - Provident Group - SH II Properties LLC (BAM)<sup>†</sup> | 5.00% |  | 7/1/2035 | AA | 1000000 | 1076356 |
| Washington State Housing Finance Commission - Provident Group - SH II Properties LLC (BAM)<sup>†</sup> | 5.00% |  | 7/1/2036 | AA | 1000000 | 1064819 |
| Washington State Housing Finance Commission - Provident Group - SH II Properties LLC (BAM)<sup>†</sup> | 5.00% |  | 7/1/2040 | AA | 1000000 | 1029783 |
| Washington State Housing Finance Commission - Provident Group-SH I Properties LLC | 5.50% |  | 7/1/2044 | BBB- | 4950000 | 5120348 |
| Washington State Housing Finance Commission - Provident Group-SH I Properties LLC | 5.50% |  | 7/1/2049 | BBB- | 8805000 | 9015781 |

---

44 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing (continued)** |  |  |  |  |  |  |
| Washington State Housing Finance Commission (FHLMC), (FNMA), (GNMA) | 6.25% |  | 6/1/2054 | Aaa | $7615000 | $8371473 |
| Wisconsin Housing & Economic Development Authority Home Ownership Revenue (FHLMC), (FNMA), (GNMA) | 6.00% |  | 3/1/2055 | AA+ | 6495000 | 7081924 |
| Wisconsin Housing & Economic Development Authority Home Ownership Revenue (FHLMC), (FNMA), (GNMA)<sup>(d)</sup> | 6.25% |  | 9/1/2055 | AA+ | 6150000 | 6806386 |
| Wisconsin Housing & Economic Development Authority Housing Revenue | 3.75% | <sup>#(a)</sup> | 11/1/2055 | AA+ | 4500000 | 4530276 |
| Wyoming Community Development Authority | 5.00% |  | 12/1/2039 | AA+ | 8360000 | 8806053 |
| *Total* |  |  |  |  |  | 477623605 |
| **Lease Obligations 1.36%** |  |  |  |  |  |  |
| Illinois Sports Facilities Authority (AG) | 5.00% |  | 6/15/2027 | AA | 3000000 | 3006225 |
| Jefferson County School District Finance Corp. - Jefferson County Board of Education/KY (ST INTERCEPT) | 3.00% |  | 12/1/2035 | AA- | 6850000 | 6190406 |
| Kentucky State Property & Building Commission - Commonwealth of Kentucky | 5.00% |  | 4/1/2042 | Aa3 | 10525000 | 10993057 |
| New Jersey Economic Development Authority - New Jersey Economic Development Authority<sup>†</sup> | 5.25% |  | 9/1/2027 | A- | 19555000 | 20538975 |
| New Jersey Economic Development Authority - State Capitol Joint Management Commission | 5.00% |  | 6/15/2033 | A2 | 7215000 | 7509748 |
| New Jersey Economic Development Authority - State Capitol Joint Management Commission | 5.00% |  | 6/15/2034 | A2 | 13645000 | 14134686 |
| New Jersey Economic Development Authority - State of New Jersey Department of the Treasury | 5.00% |  | 6/15/2036 | A2 | 1320000 | 1339012 |
| New Jersey Transportation Trust Fund Authority | 3.25% |  | 6/15/2039 | A2 | 2000000 | 1714823 |
| New Jersey Transportation Trust Fund Authority | 5.00% |  | 6/15/2031 | A+ | 2400000 | 2436245 |
| *Total* |  |  |  |  |  | 67863177 |

---

*See Notes to Schedule of Investments.* 45

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Multi-Family Housing 0.50%** |  |  |  |  |  |  |
| King County Housing Authority WA | 3.50% |  | 5/1/2038 | AAA | $10000000 | $8907022 |
| Michigan State Housing Development Authority | 3.80% |  | 10/1/2038 | AA+ | 10000000 | 9295734 |
| New Hampshire Business Finance Authority | 3.625% |  | 8/20/2039 | A3 | 7200025 | 6596249 |
| *Total* |  |  |  |  |  | 24799005 |
| **Other Revenue 1.75%** |  |  |  |  |  |  |
| Cleveland-Cuyahoga County Port Authority - Playhouse Square Foundation OH | 5.00% |  | 12/1/2033 | BB+ | 2000000 | 2040581 |
| Cleveland-Cuyahoga County Port Authority - Playhouse Square Foundation OH | 5.25% |  | 12/1/2038 | BB+ | 1650000 | 1665655 |
| Commonwealth of Puerto Rico GO | Zero Coupon | <sup>#(a)</sup> | 11/1/2051 | NR |  | 0 |
| County of St Johns FL | 5.00% |  | 10/1/2041 | Aaa | 7090000 | 7548508 |
| Illinois Finance Authority - Field Museum Natural of History | 4.273%<br> (SOFR \* .70 + 1.20% |)<sup>#</sup> | 11/1/2034 | A | 10000000 | 9994111 |
| Industrial Development Authority of the County of Pima - Edkey Inc Obligated Group<sup>†(b)</sup> | 5.00% |  | 7/1/2035 | NR | 5000000 | 3500000 |
| Maricopa County Industrial Development Authority - Legacy Traditional School Obligated Group AZ<sup>†</sup> | 5.00% |  | 7/1/2039 | BBB- | 2055000 | 2065786 |
| Maricopa County Industrial Development Authority - Paragon Management Inc AZ<sup>†</sup> | 5.00% |  | 7/1/2036 | BB+ | 2500000 | 2493817 |
| Maryland Economic Development Corp.<sup>(b)</sup> | 5.00% |  | 12/1/2016 | NR | 700000 | 469000 |
| M-S-R Energy Authority CA | 6.125% |  | 11/1/2029 | BBB+ | 2835000 | 2990979 |
| Public Finance Authority - Inperium Inc Obligated Group WI<sup>†</sup> | 5.50% |  | 12/1/2044 | NR | 2500000 | 2486764 |
| Triborough Bridge & Tunnel Authority - Metropolitan Transportation Authority Payroll Mobility Tax Revenue NY | 5.00% |  | 11/15/2037 | AA+ | 5000000 | 5449306 |
| Triborough Bridge & Tunnel Authority - Metropolitan Transportation Authority Payroll Mobility Tax Revenue NY | 5.00% |  | 11/15/2041 | AA+ | 9000000 | 9509804 |
| Triborough Bridge & Tunnel Authority - Metropolitan Transportation Authority Payroll Mobility Tax Revenue NY | 5.25% |  | 11/15/2039 | AA+ | 13050000 | 14233585 |

---

46 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Other Revenue (continued)** |  |  |  |  |  |
| Triborough Bridge & Tunnel Authority - Metropolitan Transportation Authority Payroll Mobility Tax Revenue NY | 5.25% | 11/15/2040 | AA+ | $11000000 | $11924109 |
| Triborough Bridge & Tunnel Authority - Metropolitan Transportation Authority Payroll Mobility Tax Revenue NY | 5.25% | 11/15/2042 | AA+ | 10000000 | 10645458 |
| *Total* |  |  |  |  | 87017463 |
| **Pre-Refunded 0.00%** |  |  |  |  |  |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue | 4.00% | 2/15/2034 | NR | 15000 | 15325 |
| **Single-Family Housing 0.18%** |  |  |  |  |  |
| Pennsylvania Housing Finance Agency | 5.50% | 10/1/2053 | AA+ | 8725000 | 9214903 |
| **Special Tax 1.49%** |  |  |  |  |  |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.00% | 5/1/2032 | Ba3 | 1250000 | 1269178 |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.375% | 5/1/2042 | NR | 5500000 | 5423292 |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 6.00% | 5/1/2042 | NR | 1730000 | 1774040 |
| County of Orange CA Community Facilities District No 2015-1 | 5.00% | 8/15/2033 | NR | 1370000 | 1372057 |
| County of Orange CA Community Facilities District No 2015-1 | 5.00% | 8/15/2035 | NR | 975000 | 976134 |
| Industrial Development Authority of the City of St. Louis Missouri | 4.375% | 11/15/2035 | NR | 3980000 | 3610855 |
| Industrial Development Authority of the City of St. Louis Missouri | 4.75% | 11/15/2047 | NR | 3000000 | 2554438 |
| Lakewood Ranch Stewardship District FL | 6.125% | 5/1/2043 | NR | 2240000 | 2328410 |
| Miami World Center Community Development District FL | 4.75% | 11/1/2027 | NR | 575000 | 584216 |
| Mida Mountain Village Public Infrastructure District UT<sup>†</sup> | 4.50% | 8/1/2040 | NR | 1250000 | 1189027 |
| New York City Industrial Development Agency - Queens Ballpark Co LLC NY (AG) | 3.00% | 1/1/2034 | AA | 1000000 | 933436 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY (AG) | 3.00% | 3/1/2036 | AA | 5500000 | 5001248 |
| Peninsula Town Center Community Development Authority VA<sup>†</sup> | 4.50% | 9/1/2028 | NR | 450000 | 452640 |

---

*See Notes to Schedule of Investments.* 47

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Special Tax (continued)** |  |  |  |  |  |
| Peninsula Town Center Community Development Authority VA<sup>†</sup> | 5.00% | 9/1/2037 | NR | $875000 | $876721 |
| River Islands Public Financing Authority CA Special Tax (AG) | 5.00% | 9/1/2042 | AA | 4000000 | 4131644 |
| State of Connecticut Special Tax Revenue | 4.00% | 9/1/2034 | AA | 7525000 | 7535675 |
| State of Connecticut Special Tax Revenue | 5.00% | 7/1/2036 | AA | 5000000 | 5555245 |
| State of Connecticut Special Tax Revenue | 5.00% | 7/1/2037 | AA | 6000000 | 6595087 |
| State of Connecticut Special Tax Revenue | 5.00% | 7/1/2038 | AA | 5000000 | 5431287 |
| Village Community Development District No. 12 FL | 3.25% | 5/1/2026 | NR | 770000 | 768060 |
| Village Community Development District No. 12 FL | 3.80% | 5/1/2028 | NR | 1240000 | 1242288 |
| Village Community Development District No. 12 FL | 4.00% | 5/1/2033 | NR | 1780000 | 1759470 |
| Village Community Development District No. 13 FL | 1.80% | 5/1/2026 | NR | 160000 | 157369 |
| Village Community Development District No. 13 FL | 2.85% | 5/1/2036 | NR | 1835000 | 1544160 |
| Village Community Development District No. 13 FL | 3.00% | 5/1/2029 | NR | 385000 | 372729 |
| Village Community Development District No. 13 FL<sup>†</sup> | 3.00% | 5/1/2035 | NR | 3325000 | 2939768 |
| Village Community Development District No. 13 FL<sup>†</sup> | 3.25% | 5/1/2040 | NR | 4150000 | 3405122 |
| Village Community Development District No. 13 FL | 3.375% | 5/1/2034 | NR | 2430000 | 2274012 |
| Wolf Creek Infrastructure Financing District No. 1 Wolf Creek Assessment Area 1 UT | 5.75% | 12/1/2044 | NR | 2100000 | 2072242 |
| *Total* |  |  |  |  | 74129850 |
| **Tax Revenue 2.71%** |  |  |  |  |  |
| City of Miami FL | 5.00% | 1/1/2041 | AA | 7590000 | 8007659 |
| City of Sparks NV<sup>†</sup> | 2.75% | 6/15/2028 | Baa2 | 615000 | 600682 |
| County of Cook Sales Tax Revenue IL | 4.00% | 11/15/2034 | AA- | 3750000 | 3759119 |
| Downtown Revitalization Public Infrastructure District - City of Salt Lake City UT Revitalization Sales Tax Revenue UT (AG) | 5.25% | 6/1/2041 | AA | 1750000 | 1880316 |

---

48 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tax Revenue (continued)** |  |  |  |  |  |  |
| Downtown Revitalization Public Infrastructure District - City of Salt Lake City UT Revitalization Sales Tax Revenue UT (AG) | 5.25% |  | 6/1/2042 | AA | $2000000 | $2126660 |
| Mida Mountain Village Public Infrastructure District - Military Installation Development Auth Military Recreation Fac Project Area UT Tax Allocation<sup>†</sup> | 5.50% |  | 6/15/2039 | NR | 2380000 | 2382887 |
| New Jersey Transportation Trust Fund Authority | 5.00% |  | 6/15/2041 | A2 | 9000000 | 9319900 |
| New York City Transitional Finance Authority - New York City Transitional Finance Authority Future Tax Secured Revenue | 5.00% |  | 5/1/2042 | AAA | 7500000 | 7868836 |
| New York City Transitional Finance Authority Building Aid Revenue NY (ST AID WITHHLDG) | 5.25% |  | 7/15/2036 | AA | 11700000 | 12187367 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 3.00% |  | 11/1/2037 | AAA | 2500000 | 2197076 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.00% |  | 2/1/2034 | AAA | 10000000 | 10090450 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.00% |  | 11/1/2042 | AAA | 7000000 | 7359089 |
| New York City Transitional Finance Authority NY | 5.00% |  | 5/1/2039 | AAA | 5000000 | 5349095 |
| New York City Transitional Finance Authority NY | 5.50% |  | 5/1/2044 | AAA | 8500000 | 9109928 |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue | 5.00% |  | 3/15/2034 | AA+ | 10000000 | 10027161 |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue | 5.00% |  | 3/15/2041 | Aa1 | 7400000 | 7805320 |
| New York State Dormitory Authority - State of New York Sales Tax Revenue | 5.00% |  | 3/15/2038 | AA+ | 8815000 | 8937587 |
| New York State Housing Finance Agency - State of New York Personal Income Tax Revenue | 3.45% | <sup>#(a)</sup> | 6/15/2054 | Aa1 | 1500000 | 1502757 |
| New York State Urban Development Corp. - State of New York Personal Income Tax Revenue | 5.00% |  | 3/15/2035 | Aa1 | 5000000 | 5527542 |

---

*See Notes to Schedule of Investments.* 49

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tax Revenue (continued)** |  |  |  |  |  |  |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon |  | 7/1/2029 | NR | $1616000 | $1380723 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon |  | 7/1/2031 | NR | 1774000 | 1386541 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon |  | 7/1/2033 | NR | 11643000 | 8295449 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.536% |  | 7/1/2053 | NR | 81000 | 70470 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.55% |  | 7/1/2040 | NR | 268000 | 257155 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.75% |  | 7/1/2053 | NR | 1967000 | 1811081 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.784% |  | 7/1/2058 | NR | 1092000 | 996677 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 5.00% |  | 7/1/2058 | NR | 4974000 | 4683487 |
| *Total* |  |  |  |  |  | 134921014 |
| **Taxable Revenue - Water & Sewer 0.37%** |  |  |  |  |  |  |
| New Jersey Economic Development Authority - New Jersey-American Water Co Inc AMT | 3.75% | <sup>#(a)</sup> | 11/1/2034 | A+ | 5500000 | 5500298 |
| Pittsburgh Water & Sewer Authority PA (AG) | 5.00% |  | 9/1/2037 | AA | 4750000 | 5136971 |
| Water Works Board of the City of Birmingham/The AL<sup>†</sup> | 3.75% |  | 9/1/2026 | NR | 7750000 | 7742692 |
| *Total* |  |  |  |  |  | 18379961 |
| **Tobacco 0.70%** |  |  |  |  |  |  |
| Buckeye Tobacco Settlement Financing Authority OH | 5.00% |  | 6/1/2055 | NR | 19155000 | 16353438 |
| Nassau County Tobacco Settlement Corp. NY | Zero Coupon |  | 6/1/2060 | NR | 35000000 | 1994195 |
| Northern Tobacco Securitization Corp. AK | 4.00% |  | 6/1/2050 | BBB- | 650000 | 622096 |
| Tobacco Settlement Financing Corp. NJ | 5.00% |  | 6/1/2046 | BB+ | 8440000 | 8142504 |
| Tobacco Settlement Financing Corp. RI | 5.00% |  | 6/1/2027 | A | 2500000 | 2502307 |
| Tobacco Settlement Financing Corp. RI | 5.00% |  | 6/1/2028 | BBB | 2000000 | 2001641 |
| Tobacco Settlement Financing Corp. VA | 5.00% |  | 6/1/2047 | B- | 3690000 | 3206708 |
| *Total* |  |  |  |  |  | 34822889 |

---

50 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation 16.10%** |  |  |  |  |  |
| Allegheny County Airport Authority PA (AG) AMT | 5.25% | 1/1/2036 | AA | $1000000 | $1085273 |
| Allegheny County Airport Authority PA (AG) AMT | 5.25% | 1/1/2037 | AA | 350000 | 376901 |
| Allegheny County Airport Authority PA (AG) AMT | 5.25% | 1/1/2038 | AA | 350000 | 373711 |
| Allegheny County Airport Authority PA (AG) AMT | 5.25% | 1/1/2039 | AA | 1000000 | 1059143 |
| Allegheny County Airport Authority PA (AG) AMT | 5.25% | 1/1/2040 | AA | 1105000 | 1158363 |
| Allegheny County Airport Authority PA (AG) AMT | 5.50% | 1/1/2041 | AA | 750000 | 799254 |
| Allegheny County Airport Authority PA (AG) AMT | 5.50% | 1/1/2042 | AA | 680000 | 719669 |
| Build NYC Resource Corp. - TRIPS Obligated Group NY AMT | 5.50% | 7/1/2043 | BBB+ | 1230000 | 1288667 |
| Build NYC Resource Corp. - TRIPS Obligated Group NY AMT | 5.50% | 7/1/2044 | BBB+ | 1265000 | 1318356 |
| Build NYC Resource Corp. - TRIPS Obligated Group NY AMT | 5.50% | 7/1/2045 | BBB+ | 1500000 | 1556262 |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign CA (AG) AMT | 4.125% | 7/1/2041 | AA | 3000000 | 2778761 |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign CA (AG) AMT | 4.25% | 7/1/2043 | AA | 5390000 | 5028456 |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign CA AMT | 5.25% | 7/1/2040 | A | 2250000 | 2374672 |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign CA AMT | 5.25% | 7/1/2042 | A | 3000000 | 3112731 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC (AG) AMT | 3.25% | 12/31/2032 | AA | 5235000 | 4959737 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% | 12/31/2036 | BB+ <sup>(c)</sup> | 3215000 | 3242442 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% | 12/31/2037 | BB+ <sup>(c)</sup> | 7000000 | 7048718 |
| Central Florida Expressway Authority | 4.00% | 7/1/2037 | AA- | 7380000 | 7383349 |
| Central Texas Turnpike System | 5.00% | 8/15/2040 | A- | 5500000 | 5794243 |
| Chicago Midway International Airport IL | 4.00% | 1/1/2034 | A | 2175000 | 2175658 |
| Chicago Midway International Airport IL AMT | 5.00% | 1/1/2037 | A | 5225000 | 5471235 |

---

*See Notes to Schedule of Investments.* 51

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |
| Chicago Midway International Airport IL AMT | 5.00% | 1/1/2038 | A | $4000000 | $4149110 |
| Chicago O'Hare International Airport IL | 4.00% | 1/1/2038 | A+ | 6820000 | 6663690 |
| Chicago O'Hare International Airport IL | 5.00% | 1/1/2039 | A+ | 20405000 | 20572472 |
| Chicago O'Hare International Airport IL (BAM) | 5.00% | 1/1/2036 | AA | 2000000 | 2172154 |
| Chicago O'Hare International Airport IL (BAM) | 5.00% | 1/1/2038 | AA | 2745000 | 2932711 |
| Chicago O'Hare International Airport IL (BAM) | 5.25% | 1/1/2039 | AA | 2385000 | 2565586 |
| Chicago O'Hare International Airport IL (BAM) | 5.25% | 1/1/2041 | AA | 1955000 | 2065279 |
| Chicago O'Hare International Airport IL (BAM) | 5.25% | 1/1/2042 | AA | 1645000 | 1725745 |
| Chicago O'Hare International Airport IL (BAM) | 5.25% | 1/1/2043 | AA | 1820000 | 1900048 |
| Chicago O'Hare International Airport IL AMT | 5.25% | 1/1/2040 | A+ | 4000000 | 4211513 |
| Chicago O'Hare International Airport IL AMT | 5.25% | 1/1/2041 | A+ | 2150000 | 2244311 |
| Chicago O'Hare International Airport IL AMT | 5.25% | 1/1/2042 | A+ | 2450000 | 2537902 |
| Chicago O'Hare International Airport IL AMT | 5.50% | 1/1/2044 | A+ | 2625000 | 2755776 |
| City & County of Denver Airport System Revenue CO AMT | 5.50% | 11/15/2033 | AA- | 8365000 | 9371674 |
| City & County of Denver Airport System Revenue CO AMT | 5.75% | 11/15/2034 | AA- | 3500000 | 3953667 |
| City & County of Denver Airport System Revenue CO AMT | 5.75% | 11/15/2035 | AA- | 3250000 | 3636137 |
| City & County of Denver Airport System Revenue CO AMT | 5.75% | 11/15/2037 | AA- | 2000000 | 2204098 |
| City of Atlanta Airport Passenger Facility Charge GA AMT | 4.00% | 7/1/2037 | AA | 4150000 | 4071145 |
| City of Atlanta Airport Passenger Facility Charge GA AMT | 5.00% | 7/1/2036 | Aa3 | 7600000 | 8036219 |
| City of Atlanta Airport Passenger Facility Charge GA AMT | 5.00% | 7/1/2038 | Aa3 | 2750000 | 2855974 |
| City of Atlanta Airport Passenger Facility Charge GA AMT | 5.25% | 7/1/2041 | Aa3 | 6000000 | 6242237 |

---

52 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.00% |  | 7/15/2027 | BB <sup>(c)</sup> | $1000000 | $1004462 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.50% |  | 7/15/2035 | Ba3 | 30000000 | 31365783 |
| City of Houston Airport System Revenue TX (AG) AMT | 5.00% |  | 7/1/2036 | AA | 2850000 | 3013582 |
| City of Houston Airport System Revenue TX (AG) AMT | 5.00% |  | 7/1/2037 | AA | 2000000 | 2097617 |
| City of Houston Airport System Revenue TX (AG) AMT | 5.00% |  | 7/1/2038 | AA | 2000000 | 2077072 |
| City of Houston Airport System Revenue TX (AG) AMT | 5.25% |  | 7/1/2039 | AA | 5200000 | 5504697 |
| City of Houston Airport System Revenue TX (AG) AMT | 5.25% |  | 7/1/2040 | AA | 5000000 | 5254878 |
| City of Houston Airport System Revenue TX (AG) AMT | 5.25% |  | 7/1/2041 | AA | 5000000 | 5212043 |
| City of Salt Lake City Airport Revenue UT AMT | 5.25% |  | 7/1/2036 | A+ | 1500000 | 1616696 |
| City of Salt Lake City Airport Revenue UT AMT | 5.25% |  | 7/1/2037 | A+ | 2325000 | 2485640 |
| City of Salt Lake City Airport Revenue UT AMT | 5.25% |  | 7/1/2039 | A+ | 3000000 | 3153049 |
| City of Salt Lake City Airport Revenue UT AMT | 5.25% |  | 7/1/2041 | A+ | 4425000 | 4579730 |
| City of Salt Lake City Airport Revenue UT AMT | 5.25% |  | 7/1/2042 | A+ | 3500000 | 3596026 |
| Columbus Regional Airport Authority OH AMT | 5.00% |  | 1/1/2034 | A | 3120000 | 3352644 |
| Columbus Regional Airport Authority OH AMT | 5.00% |  | 1/1/2035 | A | 3000000 | 3215895 |
| County of Lee Airport Revenue FL AMT | 5.00% |  | 10/1/2036 | A2 | 8015000 | 8476309 |
| County of Lee Airport Revenue FL AMT | 5.25% |  | 10/1/2040 | A2 | 6500000 | 6807615 |
| County of Lee Airport Revenue FL AMT | 5.25% |  | 10/1/2041 | A2 | 6750000 | 6999693 |
| Dallas Fort Worth International Airport TX | 5.00% |  | 11/1/2038 | AA- | 3000000 | 3196757 |
| Dallas Fort Worth International Airport TX | 5.00% |  | 11/1/2039 | AA- | 2750000 | 2928861 |
| E-470 Public Highway Authority CO | 5.00% |  | 9/1/2040 | A+ | 2850000 | 3017537 |
| Florida Development Finance Corp. - AAF Operations Holdings LLC AMT<sup>†</sup> | 10.00% | <sup>#(a)</sup> | 7/15/2059 | NR | 4500000 | 4285184 |
| Florida Development Finance Corp. - AAF Operations Holdings LLC AMT<sup>†</sup> | 12.00% | <sup>#(a)</sup> | 7/15/2032 | NR | 5500000 | 5472500 |

---

*See Notes to Schedule of Investments.* 53

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| Grand Parkway Transportation Corp. TX | 5.45% |  | 10/1/2034 | AA+ | $5000000 | $5313942 |
| Illinois Finance Authority - Centerpoint Joliet Terminal Railroad LLC AMT<sup>†</sup> | 4.125% | <sup>#(a)</sup> | 12/1/2043 | BBB+ | 12500000 | 12130320 |
| Illinois Finance Authority - Centerpoint Joliet Terminal Railroad LLC AMT<sup>†</sup> | 4.125% | <sup>#(a)</sup> | 12/1/2050 | BBB+ | 22575000 | 21877787 |
| Illinois Finance Authority - Centerpoint Joliet Terminal Railroad LLC AMT<sup>†(d)</sup> | 4.80% | <sup>#(a)</sup> | 12/1/2043 | BBB+ | 25500000 | 25836077 |
| Illinois State Toll Highway Authority | 5.00% |  | 1/1/2038 | AA- | 10105000 | 10106197 |
| Kansas City Industrial Development Authority MO AMT | 5.00% |  | 3/1/2036 | A | 5000000 | 5119413 |
| Kenton County Airport Board AMT | 5.00% |  | 1/1/2035 | A1 | 3500000 | 3714186 |
| Kenton County Airport Board AMT | 5.00% |  | 1/1/2036 | A1 | 6625000 | 6968478 |
| Kenton County Airport Board AMT | 5.25% |  | 1/1/2039 | A1 | 1795000 | 1892018 |
| Kenton County Airport Board AMT | 5.25% |  | 1/1/2041 | A1 | 2725000 | 2815506 |
| Kenton County Airport Board AMT | 5.25% |  | 1/1/2043 | A1 | 4355000 | 4441364 |
| Maryland Economic Development Corp. - City of Baltimore Port Covington Development District Tax Allocation | 4.00% |  | 9/1/2040 | NR | 5000000 | 4463918 |
| Metropolitan Nashville Airport Authority TN AMT | 5.25% |  | 7/1/2034 | A1 | 1250000 | 1360962 |
| Metropolitan Nashville Airport Authority TN AMT | 5.25% |  | 7/1/2035 | A1 | 2595000 | 2803975 |
| Metropolitan Nashville Airport Authority TN AMT | 5.50% |  | 7/1/2036 | A1 | 1000000 | 1091465 |
| Metropolitan Nashville Airport Authority TN AMT | 5.50% |  | 7/1/2037 | A1 | 1250000 | 1354511 |
| Metropolitan Nashville Airport Authority TN AMT | 5.50% |  | 7/1/2038 | A1 | 1500000 | 1611301 |
| Metropolitan Transportation Authority NY | 5.00% |  | 11/15/2035 | A2 | 5000000 | 5006402 |
| Metropolitan Transportation Authority NY | 5.00% |  | 11/15/2035 | A2 | 4130000 | 4135288 |
| Metropolitan Transportation Authority NY | 5.25% |  | 11/15/2030 | A2 | 6540000 | 6574523 |
| Metropolitan Washington Airports Authority Aviation Revenue DC AMT | 5.00% |  | 10/1/2036 | AA- | 2175000 | 2285362 |
| Metropolitan Washington Airports Authority Aviation Revenue DC AMT | 5.00% |  | 10/1/2037 | AA- | 2335000 | 2434157 |
| Metropolitan Washington Airports Authority Aviation Revenue DC AMT | 5.00% |  | 10/1/2038 | AA- | 1860000 | 1922602 |
| Metropolitan Washington Airports Authority Aviation Revenue DC AMT | 5.00% |  | 10/1/2040 | AA- | 1675000 | 1715289 |
| Metropolitan Washington Airports Authority Aviation Revenue DC AMT | 5.25% |  | 10/1/2039 | AA- | 4305000 | 4512919 |

---

54 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |
| Metropolitan Washington Airports Authority Aviation Revenue DC AMT | 5.25% | 10/1/2041 | AA- | $2000000 | $2085457 |
| New Jersey Economic Development Authority - DRP Urban Renewal 4 LLC AMT<sup>†</sup> | 6.375% | 1/1/2035 | NR | 4250000 | 4332882 |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC AMT | 5.125% | 1/1/2034 | A- | 5010000 | 5012462 |
| New Jersey Transportation Trust Fund Authority | 4.00% | 6/15/2039 | A2 | 6000000 | 5691391 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2028 | A+ | 6275000 | 6385665 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2034 | A2 | 10000000 | 10867547 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2034 | A2 | 2500000 | 2730515 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2035 | A2 | 2250000 | 2434750 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2037 | A2 | 4250000 | 4519278 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2037 | A2 | 4000000 | 4279126 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2038 | A2 | 1000000 | 1054909 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2039 | A2 | 3000000 | 3150445 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.00% | 6/15/2040 | A2 | 6000000 | 6287897 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.00% | 6/15/2041 | A2 | 5000000 | 5194560 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.00% | 6/15/2042 | A2 | 5500000 | 5670256 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.25% | 6/15/2041 | A2 | 3500000 | 3716941 |
| New Orleans Aviation Board LA | 5.00% | 1/1/2041 | A2 | 1000000 | 1041439 |
| New Orleans Aviation Board LA | 5.00% | 1/1/2042 | A2 | 3775000 | 3909148 |
| New Orleans Aviation Board LA | 5.00% | 1/1/2043 | A2 | 4170000 | 4300702 |
| New York City Transitional Development Corp. - JFK NTO LLC NY AMT | 5.50% | 6/30/2038 | Baa3 | 1000000 | 1054603 |
| New York City Transitional Development Corp. - JFK NTO LLC NY AMT | 6.00% | 6/30/2054 | Baa3 | 17000000 | 17570064 |

---

*See Notes to Schedule of Investments.* 55

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.625% | 4/1/2040 | Baa2 | $29000000 | $29820691 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 6.00% | 4/1/2035 | Baa2 | 30000000 | 32651025 |
| New York Transportation Development Corp. - Empire State Thruway Partners LLC AMT | 4.00% | 10/31/2034 | BBB- <sup>(c)</sup> | 750000 | 730164 |
| New York Transportation Development Corp. - Empire State Thruway Partners LLC AMT | 4.00% | 10/31/2041 | BBB- <sup>(c)</sup> | 3000000 | 2646133 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC | 5.00% | 12/1/2034 | Baa1 | 2000000 | 2125704 |
| New York Transportation Development Corp. - JFK NTO LLC (AG) AMT | 5.25% | 6/30/2039 | AA | 1400000 | 1492737 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.25% | 6/30/2038 | Baa3 | 1000000 | 1044954 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.25% | 6/30/2040 | Baa3 | 1500000 | 1542922 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.25% | 6/30/2041 | Baa3 | 1620000 | 1652832 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.25% | 6/30/2043 | Baa3 | 8000000 | 8056467 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.25% | 6/30/2044 | Baa3 | 11000000 | 11028530 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 4.00% | 7/1/2032 | Baa2 | 3000000 | 2989618 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 4.00% | 7/1/2033 | Baa2 | 6480000 | 6408903 |
| Niagara Frontier Transportation Authority NY AMT | 5.00% | 4/1/2027 | A3 | 3185000 | 3186634 |
| Niagara Frontier Transportation Authority NY AMT | 5.00% | 4/1/2030 | A3 | 365000 | 379588 |
| Niagara Frontier Transportation Authority NY AMT | 5.00% | 4/1/2032 | A3 | 775000 | 801616 |
| Norman Y Mineta San Jose International Airport SJC CA AMT | 5.00% | 3/1/2035 | A | 1500000 | 1513737 |
| North Carolina Turnpike Authority | 5.00% | 1/1/2032 | BBB | 1000000 | 1022641 |
| North Texas Tollway Authority | 4.125% | 1/1/2040 | AA- | 5000000 | 4885474 |
| Pennsylvania Turnpike Commission | 5.00% | 12/1/2041 | A+ | 5700000 | 5947098 |

---

56 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| Pennsylvania Turnpike Commission Registration Fee Revenue | 2.77%<br> (MUNIPSA \* 1 + .85% |)<sup>#</sup> | 7/15/2041 | AA- | $25000000 | $24957470 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 1/15/2036 | AA- | 2000000 | 2107420 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 7/15/2036 | AA- | 4000000 | 4220667 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 12/1/2036 | AA- | 1750000 | 1837013 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 1/15/2037 | AA- | 2000000 | 2090975 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 12/1/2037 | AA- | 2250000 | 2343121 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 1/15/2038 | AA- | 1000000 | 1037857 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 12/1/2038 | AA- | 2000000 | 2067454 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 1/15/2039 | AA- | 1500000 | 1541838 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 7/15/2039 | AA- | 5250000 | 5408002 |
| Port of Portland Airport Revenue - Port of Portland OR Airport Revenue OR AMT | 5.25% |  | 7/1/2041 | AA- | 10000000 | 10459533 |
| Port of Portland Airport Revenue - Port of Portland OR Airport Revenue OR AMT | 5.25% |  | 7/1/2042 | AA- | 12500000 | 12969714 |
| Port of Portland Airport Revenue OR AMT | 5.00% |  | 7/1/2037 | AA- | 4000000 | 4195234 |
| Port of Portland Airport Revenue OR AMT | 5.25% |  | 7/1/2039 | AA- | 3500000 | 3678557 |
| Port of Seattle WA AMT | 5.25% |  | 7/1/2040 | AA- | 5675000 | 5929616 |
| Port of Seattle WA AMT | 5.25% |  | 7/1/2041 | AA- | 4500000 | 4666524 |
| San Diego County Regional Airport Authority CA AMT<sup>(d)</sup> | 5.00% |  | 7/1/2034 | Aa3 | 2500000 | 2717633 |
| San Diego County Regional Airport Authority CA AMT<sup>(d)</sup> | 5.00% |  | 7/1/2035 | Aa3 | 2200000 | 2375154 |
| San Diego County Regional Airport Authority CA AMT<sup>(d)</sup> | 5.00% |  | 7/1/2036 | Aa3 | 3000000 | 3209227 |
| San Diego County Regional Airport Authority CA AMT<sup>(d)</sup> | 5.25% |  | 7/1/2037 | Aa3 | 3000000 | 3287054 |
| San Diego County Regional Airport Authority CA AMT<sup>(d)</sup> | 5.25% |  | 7/1/2038 | Aa3 | 2865000 | 3102576 |

---

*See Notes to Schedule of Investments.* 57

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| San Francisco City & County Airport Comm-San Francisco International Airport CA AMT | 5.50% |  | 5/1/2037 | A1 | $10000000 | $10976676 |
| San Francisco City & County Airport Comm-San Francisco International Airport CA AMT | 5.50% |  | 5/1/2038 | A1 | 14815000 | 16111105 |
| Texas Private Activity Bond Surface Transportation Corp. - NTE Mobility Partners Segments 3 LLC AMT | 5.375% |  | 6/30/2038 | Baa1 | 2500000 | 2610857 |
| Texas Private Activity Bond Surface Transportation Corp. - NTE Mobility Partners Segments 3 LLC AMT | 5.50% |  | 6/30/2040 | Baa1 | 2000000 | 2078051 |
| Virginia Small Business Financing Authority - 95 Express Lanes LLC AMT | 5.00% |  | 1/1/2034 | BBB | 5100000 | 5336380 |
| Virginia Small Business Financing Authority - 95 Express Lanes LLC AMT | 5.00% |  | 7/1/2036 | BBB | 11165000 | 11502277 |
| Virginia Small Business Financing Authority - 95 Express Lanes LLC AMT | 5.00% |  | 1/1/2036 | BBB | 2500000 | 2583092 |
| Wayne County Airport Authority - Detroit Metropolitan Wayne County Airport MI | 5.00% |  | 12/1/2035 | A+ | 3565000 | 3572665 |
| Wayne County Airport Authority - Detroit Metropolitan Wayne County Airport MI AMT | 5.00% |  | 12/1/2033 | A+ | 4495000 | 4503865 |
| *Total* |  |  |  |  |  | 800870393 |
| **Utilities 18.17%** |  |  |  |  |  |  |
| American Municipal Power, Inc. - Prairie St Energy Campus OH | 5.00% |  | 2/15/2037 | A1 | 10750000 | 11707099 |
| Black Belt Energy Gas District AL | 4.00% | <sup>#(a)</sup> | 10/1/2052 | A2 | 23270000 | 23331873 |
| Black Belt Energy Gas District AL | 4.00% | <sup>#(a)</sup> | 12/1/2052 | Baa1 | 15680000 | 15570836 |
| Black Belt Energy Gas District AL | 5.00% | <sup>#(a)</sup> | 3/1/2055 | A1 | 25000000 | 26469980 |
| Black Belt Energy Gas District AL | 5.25% | <sup>#(a)</sup> | 5/1/2055 | A1 | 8125000 | 8453778 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 1/1/2055 | A1 | 28250000 | 29202994 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 2/1/2055 | A1 | 6475000 | 6845645 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 11/1/2055 | A1 | 17000000 | 17551681 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 1/1/2056 | A1 | 5400000 | 5577542 |
| California Community Choice Financing Authority | 5.25% |  | 11/1/2054 | A2 | 8800000 | 9329902 |

---

58 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |
| California Pollution Control Financing Authority - Poseidon Resources Channelside LP<sup>†</sup> | 5.00% |  | 7/1/2039 | Baa3 | $5000000 | $5052058 |
| California Pollution Control Financing Authority - Poseidon Resources Channelside LP AMT<sup>†</sup> | 5.00% |  | 7/1/2037 | Baa3 | 5570000 | 5571270 |
| Central Plains Energy Project NE | 2.50% | <sup>#(a)</sup> | 12/1/2049 | Aa1 | 8650000 | 8644703 |
| Central Plains Energy Project NE | 5.00% | <sup>#(a)</sup> | 5/1/2054 | Aa2 | 7500000 | 7886208 |
| Central Valley Energy Authority CA | 5.00% | <sup>#(a)</sup> | 12/1/2055 | Aa3 | 18505000 | 19739750 |
| Chautauqua County Capital Resource Corp. - NRG Energy Inc NY | 4.25% | <sup>#(a)</sup> | 4/1/2042 | BBB- | 7250000 | 7305154 |
| City of Fort Lauderdale Water & Sewer Revenue FL | 5.00% |  | 9/1/2039 | AA+ | 1250000 | 1342369 |
| City of Fort Lauderdale Water & Sewer Revenue FL | 5.00% |  | 9/1/2040 | AA+ | 875000 | 935554 |
| City of Fort Lauderdale Water & Sewer Revenue FL | 5.00% |  | 9/1/2041 | AA+ | 1500000 | 1586494 |
| City of Osceola - Plum Point Energy Associates LLC AR AMT | 5.50% | <sup>#(a)</sup> | 4/1/2036 | NR | 16450000 | 16450819 |
| City of San Antonio Electric & Gas Systems Revenue TX | 5.00% |  | 2/1/2040 | Aa2 | 4560000 | 4841943 |
| City of San Antonio Electric & Gas Systems Revenue TX | 5.00% |  | 2/1/2041 | Aa2 | 2000000 | 2107342 |
| City of San Antonio Electric & Gas Systems Revenue TX | 5.00% |  | 2/1/2042 | Aa2 | 8250000 | 8628107 |
| City of San Antonio Electric & Gas Systems Revenue TX | 5.00% |  | 2/1/2042 | Aa2 | 3980000 | 4162408 |
| City of San Antonio Electric & Gas Systems Revenue TX | 5.25% |  | 2/1/2040 | Aa2 | 8550000 | 9193228 |
| County of Hillsborough Utility Revenue FL | 3.00% |  | 8/1/2038 | Aaa | 3110000 | 2644319 |
| County of Hillsborough Utility Revenue FL | 3.00% |  | 8/1/2039 | Aaa | 3025000 | 2513199 |
| County of Jefferson Sewer Revenue AL | 5.25% |  | 10/1/2040 | BBB+ | 13080000 | 13814564 |
| County of Jefferson Sewer Revenue AL | 5.25% |  | 10/1/2041 | BBB+ | 16815000 | 17661879 |
| County of Trimble - Louisville Gas and Electric Co KY AMT | 4.70% | <sup>#(a)</sup> | 6/1/2054 | A1 | 6750000 | 6812379 |
| County of Washoe - Sierra Pacific Power Co NV | 4.125% | <sup>#(a)</sup> | 3/1/2036 | A | 5500000 | 5514091 |
| Delaware State Economic Development Authority - NRG Energy Inc | 1.25% | <sup>#(a)</sup> | 10/1/2040 | BBB- | 7500000 | 7428267 |
| Delaware State Economic Development Authority - NRG Energy Inc | 1.25% | <sup>#(a)</sup> | 10/1/2045 | BBB- | 32300000 | 31991070 |

---

*See Notes to Schedule of Investments.* 59

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |
| Development Authority of Burke County - Georgia Power Co | 2.20% |  | 10/1/2032 | A | $1000000 | $840910 |
| Development Authority of Burke County - Oglethorpe Power Corp GA | 3.60% | <sup>#(a)</sup> | 11/1/2045 | A3 | 5000000 | 5033074 |
| Development Authority of Monroe County - Georgia Power Co | 3.875% | <sup>#(a)</sup> | 10/1/2048 | A | 8750000 | 8770243 |
| Energy Southeast A Cooperative District AL | 5.121%<br> (SOFR \* .67 + 2.20% |)<sup>#</sup> | 4/1/2054 | A1 | 5000000 | 5091055 |
| Energy Southeast A Cooperative District AL | 5.25% | <sup>#(a)</sup> | 7/1/2054 | A1 | 14000000 | 14984683 |
| Energy Southeast A Cooperative District AL | 5.75% | <sup>#(a)</sup> | 4/1/2054 | A1 | 3400000 | 3714810 |
| Grand River Dam Authority OK | 5.00% |  | 6/1/2039 | AA- | 3500000 | 3714699 |
| Grand River Dam Authority OK | 5.00% |  | 6/1/2040 | AA- | 2500000 | 2648407 |
| Grand River Dam Authority OK | 5.00% |  | 6/1/2042 | AA- | 5925000 | 6196920 |
| Illinois Finance Authority - Peoples Gas Light & Coke Co/The | 3.90% |  | 3/1/2030 | Aa3 | 10000000 | 9961002 |
| Indiana Municipal Power Agency (AG) | 5.00% |  | 1/1/2043 | AA | 10000000 | 10389961 |
| Kentucky Municipal Power Agency (NATL) | 5.00% |  | 9/1/2033 | Baa1 | 11295000 | 11450259 |
| Kentucky Municipal Power Agency (NATL) | 5.00% |  | 9/1/2034 | Baa1 | 5000000 | 5065300 |
| Kentucky Public Energy Authority | 4.00% | <sup>#(a)</sup> | 8/1/2052 | A1 | 18770000 | 18698160 |
| Kentucky Public Energy Authority | 5.00% | <sup>#(a)</sup> | 1/1/2055 | A1 | 16110000 | 17030804 |
| Kentucky Public Energy Authority | 5.25% | <sup>#(a)</sup> | 4/1/2054 | A1 | 10000000 | 10689714 |
| Kentucky Public Energy Authority | 5.25% | <sup>#(a)</sup> | 6/1/2055 | A1 | 32000000 | 33841632 |
| Long Beach Bond Finance Authority CA | 4.504%<br> (3 mo. USD Term<br> SOFR \* 0.67 + 1.43% |)<sup>#</sup> | 11/15/2026 | A1 | 4000000 | 4026034 |
| Los Angeles Department of Water & Power System Revenue CA | 5.00% |  | 7/1/2034 | Aa2 | 10000000 | 11016345 |
| Los Angeles Department of Water & Power System Revenue CA (BAM) | 5.00% |  | 7/1/2035 | AA | 1020000 | 1131160 |
| Los Angeles Department of Water & Power System Revenue CA (BAM) | 5.00% |  | 7/1/2036 | AA | 700000 | 766489 |
| Los Angeles Department of Water & Power System Revenue CA (BAM) | 5.00% |  | 7/1/2037 | AA | 1125000 | 1220298 |
| Los Angeles Department of Water & Power System Revenue CA (BAM) | 5.00% |  | 7/1/2038 | AA | 1500000 | 1609884 |
| Los Angeles Department of Water & Power System Revenue CA (BAM) | 5.00% |  | 7/1/2039 | AA | 1250000 | 1331299 |
| Los Angeles Department of Water & Power System Revenue CA (BAM) | 5.00% |  | 7/1/2040 | AA | 1500000 | 1586625 |
| Los Angeles Department of Water & Power System Revenue CA (BAM) | 5.00% |  | 7/1/2041 | AA | 1735000 | 1824738 |

---

60 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |
| Los Angeles Department of Water & Power System Revenue CA (BAM) | 5.00% |  | 7/1/2042 | AA | $1500000 | $1570168 |
| Lower Colorado River Authority - LCRA Transmission Services Corp TX | 5.00% |  | 5/15/2041 | A1 | 6810000 | 7132541 |
| Lower Colorado River Authority - LCRA Transmission Services Corp TX | 5.00% |  | 5/15/2042 | A1 | 4400000 | 4568241 |
| Lower Colorado River Authority TX | 5.00% |  | 5/15/2041 | A | 10000000 | 10428784 |
| Lower Colorado River Authority TX | 5.00% |  | 5/15/2042 | A | 1750000 | 1810609 |
| Luzerne County Industrial Development Authority - Pennsylvania-American Water Co AMT | 2.45% | <sup>#(a)</sup> | 12/1/2039 | A+ | 4000000 | 3557591 |
| Main Street Natural Gas, Inc. GA<sup>†</sup> | 4.00% | <sup>#(a)</sup> | 8/1/2052 | BBB- | 30500000 | 30415622 |
| Main Street Natural Gas, Inc. GA | 4.00% | <sup>#(a)</sup> | 9/1/2052 | A3 | 30235000 | 30388074 |
| Main Street Natural Gas, Inc. GA | 5.00% | <sup>#(a)</sup> | 12/1/2053 | Aa1 | 10000000 | 10541681 |
| Maricopa County Pollution Control Corp. - El Paso Electric Co AZ | 3.60% |  | 2/1/2040 | Baa2 | 5085000 | 4428452 |
| Maricopa County Pollution Control Corp. - El Paso Electric Co AZ | 3.60% |  | 4/1/2040 | Baa2 | 3870000 | 3366248 |
| Michigan Finance Authority - Great Lakes Water Authority Sewage Disposal System Revenue | 5.00% |  | 7/1/2034 | A+ | 4200000 | 4206246 |
| Michigan Finance Authority - Great Lakes Water Authority Sewage Disposal System Revenue | 5.00% |  | 7/1/2035 | A+ | 1925000 | 1927863 |
| Montgomery County Industrial Development Authority - Constellation Energy Generation LLC PA | 4.10% | <sup>#(a)</sup> | 4/1/2053 | BBB+ | 6500000 | 6645438 |
| Municipal Electric Authority of Georgia | 5.00% |  | 1/1/2039 | A2 | 1500000 | 1587410 |
| Municipal Electric Authority of Georgia | 5.00% |  | 1/1/2040 | A2 | 1500000 | 1569246 |
| Municipal Electric Authority of Georgia | 5.00% |  | 1/1/2042 | A2 | 1550000 | 1595146 |
| Municipal Electric Authority of Georgia (BAM) | 5.25% |  | 1/1/2041 | AA | 1250000 | 1344850 |
| Okaloosa Gas District FL (AG) | 5.25% |  | 10/1/2042 | AA | 7500000 | 7996288 |
| Patriots Energy Group Financing Agency SC | 5.25% | <sup>#(a)</sup> | 2/1/2054 | Aa1 | 10000000 | 10740854 |
| Patriots Energy Group Financing Agency SC | 5.25% | <sup>#(a)</sup> | 10/1/2054 | A1 | 15000000 | 15862762 |
| Pennsylvania Economic Development Financing Authority - Talen Energy Supply LLC | 5.25% | <sup>#(a)</sup> | 12/1/2038 | B | 2200000 | 2215091 |
| Pennsylvania Economic Development Financing Authority - Waste Management Inc AMT | 1.10% | <sup>#(a)</sup> | 6/1/2031 | A- | 5000000 | 4824339 |

---

*See Notes to Schedule of Investments.* 61

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |
| Philadelphia Gas Works Co. - Philadelphia Gas Works Co | 5.00% |  | 8/1/2039 | A | $2250000 | $2392551 |
| Philadelphia Gas Works Co. - Philadelphia Gas Works Co | 5.00% |  | 8/1/2042 | A | 2000000 | 2067900 |
| Philadelphia Gas Works Co. PA (AG) | 5.25% |  | 8/1/2041 | AA | 2000000 | 2149234 |
| Puerto Rico Electric Power Authority (AG) | 3.568%<br> (3 mo. USD Term<br> SOFR \* 0.67 + 0.52% |)<sup>#</sup> | 7/1/2029 | AA | 4155000 | 3971867 |
| Salt Verde Financial Corp. AZ | 5.50% |  | 12/1/2029 | A3 | 5100000 | 5461952 |
| San Joaquin Valley Clean Energy Authority CA | 5.50% | <sup>#(a)</sup> | 1/1/2056 | A2 | 6875000 | 7545598 |
| South Carolina Public Service Authority | 5.00% |  | 12/1/2036 | A- | 2000000 | 2184416 |
| South Carolina Public Service Authority | 5.00% |  | 12/1/2037 | A- | 2250000 | 2431551 |
| South Carolina Public Service Authority | 5.00% |  | 12/1/2040 | A- | 1010000 | 1060341 |
| Southeast Alabama Gas Supply District AL | 5.00% | <sup>#(a)</sup> | 8/1/2054 | Aa3 | 10000000 | 10519871 |
| Southeast Energy Authority A Cooperative District AL | 5.00% |  | 11/1/2035 | Baa1 | 33000000 | 34124227 |
| Southeast Energy Authority A Cooperative District AL<sup>(e)</sup> | 5.00% |  | 1/1/2056 | A1 | 21100000 | 21545693 |
| Southeast Energy Authority A Cooperative District AL | 5.25% | <sup>#(a)</sup> | 3/1/2055 | A1 | 11350000 | 11864637 |
| Southeast Energy Authority A Cooperative District AL | 5.25% | <sup>#(a)</sup> | 11/1/2055 | A1 | 30000000 | 32274690 |
| Southeast Energy Authority A Cooperative District AL | 5.50% | <sup>#(a)</sup> | 1/1/2053 | A1 | 5000000 | 5337452 |
| Southern California Public Power Authority - City of Anaheim Electric System Revenue | 5.00% | <sup>#(a)</sup> | 4/1/2055 | A2 | 10500000 | 11047401 |
| Tennergy Corp. TN | 5.50% | <sup>#(a)</sup> | 10/1/2053 | Baa1 | 10000000 | 10500344 |
| Tennessee Energy Acquisition Corp. | 5.625% |  | 9/1/2026 | BBB <sup>(c)</sup> | 5000000 | 5090183 |
| Texas Municipal Gas Acquisition & Supply Corp. I | 6.25% |  | 12/15/2026 | A1 | 5325000 | 5465799 |
| Texas Municipal Gas Acquisition & Supply Corp. IV | 5.50% | <sup>#(a)</sup> | 1/1/2054 | A1 | 10000000 | 10625680 |
| Texas Municipal Power Agency (AG) | 3.00% |  | 9/1/2034 | AA | 1470000 | 1362568 |
| Texas Municipal Power Agency (AG) | 3.00% |  | 9/1/2036 | AA | 5250000 | 4642677 |
| Texas Water Development Board - State Water Implementation Revenue Fund for Texas | 5.00% |  | 10/15/2036 | AAA | 2450000 | 2711300 |
| *Total* |  |  |  |  |  | 903604486 |
| *Total Municipal Bonds* (cost $4,956,508,995) |  |  |  |  |  | 4903011209 |

---

62 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest**<br> **Rate**<sup>#</sup> | **Interest**<br> **Rate**<br> **Reset**<br> **Date**<sup>(f)</sup> | **Final<br> Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **SHORT-TERM INVESTMENTS 2.73%** |  |  |  |  |  |  |
| **Variable Rate Demand Notes 2.73%** |  |  |  |  |  |  |
| **Education 0.82%** |  |  |  |  |  |  |
| University of California | 2.350% | 7/1/2025 | 5/15/2048 | AA | $40900000 | $40900000 |
| **General Obligation 0.97%** |  |  |  |  |  |  |
| City of New York NY GO | 3.900% | 7/1/2025 | 4/1/2042 | AA | 13000000 | 13000000 |
| City of New York NY GO | 3.900% | 7/1/2025 | 4/1/2042 | AA | 4305000 | 4305000 |
| City of New York NY GO | 3.900% | 7/1/2025 | 10/1/2046 | AA | 17410000 | 17410000 |
| City of New York NY GO | 3.900% | 7/1/2025 | 10/1/2046 | AA | 13400000 | 13400000 |
| *Total* |  |  |  |  |  | 48115000 |
| **Transportation 0.28%** |  |  |  |  |  |  |
| Bay Area Toll Authority CA | 2.950% | 7/1/2025 | 4/1/2055 | AA+ | 13900000 | 13900000 |
| **Utilities 0.66%** |  |  |  |  |  |  |
| Development Authority of Appling County - Georgia Power Co | 4.050% | 7/1/2025 | 9/1/2041 | A | 1600000 | 1600000 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 3.900% | 7/1/2025 | 6/15/2033 | AA+ | 6200000 | 6200000 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 4.000% | 7/1/2025 | 6/15/2050 | AA+ | 25055000 | 25055000 |
| *Total* |  |  |  |  |  | 32855000 |
| *Total Short-Term Investments* (cost $135,770,000) | *Total Short-Term Investments* (cost $135,770,000) | *Total Short-Term Investments* (cost $135,770,000) | *Total Short-Term Investments* (cost $135,770,000) |  |  | 135770000 |
| *Total Investments in Securities 101.30%* (cost $5,092,278,995) | *Total Investments in Securities 101.30%* (cost $5,092,278,995) | *Total Investments in Securities 101.30%* (cost $5,092,278,995) | *Total Investments in Securities 101.30%* (cost $5,092,278,995) |  |  | 5038781209 |
| *Other Assets and Liabilities – Net (1.30)%* |  |  |  |  |  | (64751857) |
| *Net Assets 100.00%* |  |  |  |  |  | $4974029352 |

---

---

| | |
|:---|:---|
| AG | Insured by - Assured Guaranty, inc. |
| AMT | Income from the security may be subject to Alternative Minimum Tax. |
| BAM | Insured by - Build America Mutual. |
| COPS | Certificates of Participation. |
| FHLMC | Insured by - Federal Home Loan Mortgage Corporation. |
| FNMA | Federal National Mortgage Association. |
| GNMA | Government National Mortgage Association. |
| GTD | Guaranteed. |
| MUNIPSA | SIFMA Municipal Swap Index Yield. |
| NATL | Insured by - National Public Finance Guarantee Corporation. |
| NR | Not Rated. |

---

*See Notes to Schedule of Investments.* 63

**Schedule of Investments (unaudited)(concluded)**

INTERMEDIATE TAX FREE FUND *June 30, 2025*

---

| | |
|:---|:---|
| PSF | Permanent School Fund. |
| SIFMA | Insured by - Securities Industry and Financial Markets Association. |
| SOFR | Secured Overnight Financing Rate. |
| ST INTERCEPT | State Intercept. |
| TRIPS | Tax Refund Intercept Programs. |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At June 30, 2025, the total value of Rule 144A securities was $425,680,908, which represents 8.56% of net assets. |
| <sup>#</sup> | Variable rate security. The interest rate represents the rate in effect at June 30, 2025. |
| <sup>(a)</sup> | Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date. |
| <sup>(b)</sup> | Defaulted (non-income producing security). |
| <sup>(c)</sup> | This investment has been rated by Fitch IBCA. |
| <sup>(d)</sup> | Securities purchased on a when-issued basis. |
| <sup>(e)</sup> | Municipal Bonds Held in Trust – Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund acquired the residual interest certificates. These securities serve as collateral in a financing transaction. See Note to Financial Statements for details of Municipal Bonds Held in Trust. |
| <sup>(f)</sup> | The interest rate reset date shown represents the date in which the Fund has the right to sell a Variable Rate Demand Note ("VRDN") back to the issuer for Principal Amount. The interest rate on the VRDN is generally reset daily based on the SIFMA Municipal Swap Index. |

---

The following is a summary of the inputs used as of June 30, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Municipal Bonds<sup>(3)</sup> | $– | $4903011209 | $– | $4903011209 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Variable Rate Demand Notes | – | 135770000 | – | 135770000 |
| Total | $– | $5038781209 | $– | $5038781209 |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

<sup>(3)</sup> Includes Municipal Bonds held in the Trust.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets.

64 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 102.28%** |  |  |  |  |  |  |
| **MUNICIPAL BONDS 102.28%** |  |  |  |  |  |  |
| **Corporate-Backed 7.86%** |  |  |  |  |  |  |
| Arkansas Development Finance Authority - Big River Steel LLC AMT<sup>†</sup> | 4.50% |  | 9/1/2049 | Ba2 | $10000000 | $9630967 |
| Arkansas Development Finance Authority - United States Steel Corp AMT | 5.45% |  | 9/1/2052 | BB- | 3500000 | 3508194 |
| Arkansas Development Finance Authority - US Steel Corp AMT | 5.70% |  | 5/1/2053 | BB- | 4600000 | 4664650 |
| Baldwin County Industrial Development Authority - Novelis Corp AL AMT<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 6/1/2055 | BB | 17000000 | 17153075 |
| California Infrastructure & Economic Development Bank - Desertxpress Enterprises LLC AMT<sup>†</sup> | 9.50% | <sup>#(a)</sup> | 1/1/2065 | NR | 19500000 | 18489957 |
| City of Valparaiso - Pratt Paper LLC AMT IN<sup>†</sup> | 4.875% |  | 1/1/2044 | NR | 1000000 | 962739 |
| City of Valparaiso - Pratt Paper LLC AMT IN<sup>†</sup> | 5.00% |  | 1/1/2054 | NR | 5200000 | 4890051 |
| City of Whiting - BP Products North America Inc IN AMT | 3.00% |  | 11/1/2051 | A1 | 6165000 | 4168534 |
| Florida Development Finance Corp. - Waste pro USA Inc AMT<sup>†</sup> | 6.125% | <sup>#(a)</sup> | 7/1/2032 | NR | 4500000 | 4554910 |
| Grapevine Wash Local District - Grapevine Wash Local District Assessment Area No 1 UT<sup>†</sup> | 5.25% |  | 12/1/2044 | NR | 8000000 | 7504724 |
| Hoover Industrial Development Board - United States Steel Corp AL AMT | 5.75% |  | 10/1/2049 | BB- | 4090000 | 4126311 |
| Indiana Finance Authority - United States Steel Corp | 4.125% |  | 12/1/2026 | BB- | 1625000 | 1630580 |
| Iowa Finance Authority - Howmet Aerospace Inc | 4.75% |  | 8/1/2042 | Baa1 | 13570000 | 13076979 |
| Iowa Finance Authority - Iowa Fertilizer Co LLC | 5.00% | <sup>#(a)</sup> | 12/1/2050 | AA+ | 24000000 | 27219149 |
| Iowa Finance Authority - Iowa Fertilizer Co LLC | 5.00% |  | 12/1/2050 | AA+ | 25025000 | 28381633 |
| Jefferson County Port Authority - JSW Steel USA Ohio Inc OH<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 12/1/2053 | Ba1 | 5350000 | 5360249 |
| Love Field Airport Modernization Corp. - Southwest Airlines Co TX | 5.00% |  | 11/1/2028 | BBB | 2340000 | 2340328 |
| Maricopa County Industrial Development Authority - Commercial Metals Co AZ AMT<sup>†</sup> | 4.00% |  | 10/15/2047 | BB+ | 3250000 | 2703137 |

---

*See Notes to Schedule of Investments.* 65

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Maryland Economic Development Corp.<sup>(b)</sup> | 5.00% |  | 12/1/2016 | NR | $855000 | $572850 |
| Maryland Economic Development Corp. - Core Natural Resources Inc<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 7/1/2048 | NR | 5150000 | 5213753 |
| Mission Economic Development Corp. - Natgasoline LLC TX AMT<sup>†</sup> | 4.625% |  | 10/1/2031 | BB- | 5250000 | 5258408 |
| Mobile County Industrial Development Authority - AM/NS Calvert LLC AL AMT | 5.00% |  | 6/1/2054 | BBB | 14750000 | 14165555 |
| New Hampshire Business Finance Authority - Covanta Holding Corp AMT<sup>†</sup> | 4.875% |  | 11/1/2042 | B | 5000000 | 4604855 |
| New Hampshire Business Finance Authority - New York State Electric & Gas Corp AMT | 4.00% |  | 12/1/2028 | A- | 5000000 | 5034547 |
| New Jersey Economic Development Authority - United Airlines Inc | 5.25% |  | 9/15/2029 | BB | 5790000 | 5792024 |
| New York City Industrial Development Agency - Queens Ballpark Co LLC NY (AG) | 3.00% |  | 1/1/2046 | AA | 17455000 | 12590696 |
| New York City Industrial Development Agency - TRIPS Obligated Group NY | 5.00% |  | 7/1/2028 | BBB+ | 6100000 | 6100605 |
| New York Liberty Development Corp. | 3.00% |  | 11/15/2051 | A+ | 17085000 | 11496257 |
| New York Liberty Development Corp. - 7 World Trade Center II LLC | 3.00% |  | 9/15/2043 | Aaa | 27180000 | 20818578 |
| New York Liberty Development Corp. - 7 World Trade Center II LLC | 3.125% |  | 9/15/2050 | Aaa | 5000000 | 3591638 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT<sup>†</sup> | 5.125% | <sup>#(a)</sup> | 9/1/2050 | B+ | 1000000 | 1029346 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.25% |  | 8/1/2031 | B+ | 795000 | 813052 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.375% |  | 8/1/2036 | B+ | 3000000 | 3060600 |
| Niagara Area Development Corp. - Reworld Holding Corp NY AMT<sup>†</sup> | 4.75% |  | 11/1/2042 | B | 5000000 | 4536066 |
| Ohio Air Quality Development Authority - AMG Vanadium LLC AMT<sup>†</sup> | 5.00% |  | 7/1/2049 | B3 | 13110000 | 11629978 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.10% | <sup>#(a)</sup> | 6/1/2038 | BB+ | 3050000 | 3250563 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.10% | <sup>#(a)</sup> | 12/1/2040 | BB+ | 3250000 | 3463446 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.35% |  | 7/1/2040 | BB+ | 6650000 | 7142968 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.35% |  | 10/1/2040 | BB+ | 2500000 | 2684887 |
| Phenix City Industrial Development Board AL | 3.625% |  | 5/15/2030 | BBB | 3160000 | 3105556 |
| Port of Beaumont Navigation District - Jefferson 2020 Bond Lessee & Borrower LLC Obligated Group TX AMT<sup>†</sup> | 5.25% |  | 1/1/2054 | NR | 5400000 | 4958331 |

---

66 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Port of Seattle Industrial Development Corp. - Delta Air Lines Inc WA AMT | 5.00% |  | 4/1/2030 | BBB- | $9200000 | $9199805 |
| Public Finance Authority - Sky Harbour Capital LLC Obligated Group WI AMT | 4.00% |  | 7/1/2041 | NR | 1000000 | 864821 |
| Public Finance Authority - Sky Harbour Capital LLC Obligated Group WI AMT | 4.25% |  | 7/1/2054 | NR | 1000000 | 791997 |
| Public Finance Authority - TRIPS Obligated Group WI AMT | 5.00% |  | 7/1/2042 | BBB+ | 15055000 | 14897985 |
| State of Nevada Department of Business & Industry - Desertxpress Enterprises LLC AMT<sup>†</sup> | 9.50% | <sup>#(a)</sup> | 1/1/2065 | NR | 7000000 | 6632500 |
| Tulsa Airports Improvement Trust - American Airlines Inc OK AMT | 5.50% |  | 6/1/2035 | NR | 5000000 | 5000113 |
| Tulsa Municipal Airport Trust Trustees - American Airlines Inc OK AMT | 6.25% |  | 12/1/2035 | B+ | 2725000 | 3012562 |
| Tulsa Municipal Airport Trust Trustees - American Airlines Inc OK AMT | 6.25% |  | 12/1/2040 | B+ | 1950000 | 2117881 |
| Tuscaloosa County Industrial Development Authority - Hunt Refining Co AL<sup>†</sup> | 5.25% |  | 5/1/2044 | NR | 7000000 | 6927668 |
| Virginia Small Business Financing Authority - Covanta Holding Corp AMT<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 1/1/2048 | B | 910000 | 871444 |
| West Pace Cooperative District AL<sup>(b)</sup> | 9.125% |  | 5/1/2039 | NR | 4900000 | 2450000 |
| Williamsburg Economic Development Authority VA - Provident Group - Williamsburg Properties LLC (AG) | 5.25% |  | 7/1/2053 | AA | 2500000 | 2594833 |
| *Total* |  |  |  |  |  | 356642335 |
| **Education 12.21%** |  |  |  |  |  |  |
| Brunswick City School District OH<sup>(c)</sup> | 5.50% |  | 12/1/2060 | A1 | 11000000 | 11432123 |
| Build NYC Resource Corp. - Kipp NYC Public Charter Schools NY | 5.25% |  | 7/1/2052 | BBB- | 4000000 | 3941228 |
| California Infrastructure & Economic Development Bank<sup>(c)</sup> | 5.25% |  | 5/15/2059 | AA | 14900000 | 15528493 |
| California School Finance Authority - Green Dot Public Schools Obligated Group<sup>†</sup> | 5.00% |  | 8/1/2045 | BBB- | 1500000 | 1448608 |
| California School Finance Authority - Kipp SoCal Public Schools Obligated<sup>†</sup> | 5.00% |  | 7/1/2047 | BBB | 2050000 | 1963637 |
| Camden County Improvement Authority - KIPP Cooper Norcross Obligated Group NJ | 6.00% |  | 6/15/2062 | BBB | 2540000 | 2606270 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL | 5.75% |  | 4/1/2048 | A <sup>(d)</sup> | 7250000 | 7503209 |

---

*See Notes to Schedule of Investments.* 67

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| Chicago Board of Education Dedicated Capital Improvement Tax IL | 6.10% | 4/1/2036 | A <sup>(d)</sup> | $4235000 | $4368676 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL TCRS (BAM) | 5.00% | 4/1/2045 | AA | 2500000 | 2510342 |
| Chicago Board of Education IL GO | 4.00% | 12/1/2047 | BB+ | 15510000 | 12266817 |
| City of Waltham MA GO | 2.00% | 10/15/2035 | AA+ | 4920000 | 3975958 |
| City of Waltham MA GO | 2.00% | 10/15/2036 | AA+ | 5015000 | 3937802 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 6.00% | 8/15/2038 | Baa3 | 4045000 | 4058869 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc (PSF-GTD) | 3.00% | 8/15/2051 | Aaa | 5750000 | 3918723 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc (PSF-GTD) | 5.25% | 2/15/2049 | Aaa | 8015000 | 8212385 |
| Connecticut State Health & Educational Facilities Authority - Quinnipiac University | 5.25% | 7/1/2053 | A- | 15000000 | 15091308 |
| District of Columbia - Catholic University of America/The DC | 5.75% | 10/1/2055 | A- | 5000000 | 5159679 |
| Dutchess County Local Development Corp. - Bard College NY | 5.00% | 7/1/2045 | BBB- | 1000000 | 995198 |
| Florida Development Finance Corp. - Mater Academy Inc | 5.00% | 6/15/2047 | BBB | 6600000 | 6330321 |
| Florida Higher Educational Facilities Financing Authority - Keiser University Obligated Group<sup>†(e)</sup> | 6.00% | 7/1/2045 | BB+ | 15000000 | 14967633 |
| Florida Higher Educational Facilities Financing Authority - Keiser University Obligated Group<sup>†(e)</sup> | 6.25% | 7/1/2055 | BB+ | 20000000 | 20036618 |
| Great Oaks Career Campuses Board of Education OH | 3.00% | 12/1/2050 | Aa1 | 15460000 | 11235635 |
| Homewood Educational Building Authority - Samford University AL | 5.00% | 12/1/2047 | Baa2 | 13425000 | 12836283 |
| Illinois Finance Authority - Illinois Institute of Technology | 4.00% | 9/1/2037 | Ba2 | 3135000 | 2724218 |
| Illinois Finance Authority - Illinois Institute of Technology | 4.00% | 9/1/2039 | Ba2 | 4295000 | 3615962 |
| Illinois Finance Authority - Illinois Institute of Technology | 5.00% | 9/1/2040 | Ba2 | 2020000 | 1864495 |
| Illinois Finance Authority - University of Chicago | 5.25% | 5/15/2048 | Aa2 | 7500000 | 7694781 |

---

68 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| Illinois Finance Authority - University of Chicago | 5.25% | 5/15/2054 | Aa2 | $18850000 | $19141658 |
| Iowa Higher Education Loan Authority - Des Moines University Osteopathic Medical Center IA | 5.00% | 10/1/2038 | BBB+ | 2730000 | 2809647 |
| Iowa Higher Education Loan Authority - Des Moines University Osteopathic Medical Center IA | 5.00% | 10/1/2039 | BBB+ | 2870000 | 2937349 |
| Iowa Higher Education Loan Authority - Des Moines University Osteopathic Medical Center IA | 5.00% | 10/1/2040 | BBB+ | 3535000 | 3595975 |
| Iowa Higher Education Loan Authority - Des Moines University Osteopathic Medical Center IA | 5.00% | 10/1/2047 | BBB+ | 1800000 | 1795688 |
| Iowa Higher Education Loan Authority - University of Dubuque | 5.00% | 10/1/2045 | BBB- | 1875000 | 1765917 |
| Iowa Higher Education Loan Authority - University of Dubuque | 5.25% | 10/1/2040 | BBB- | 2000000 | 2033998 |
| Iowa Higher Education Loan Authority - University of Dubuque | 6.00% | 10/1/2055 | BBB- | 10275000 | 10574904 |
| Louisiana Public Facilities Authority - Loyola University New Orleans | 5.25% | 10/1/2053 | Baa1 | 20000000 | 19021204 |
| Louisiana Public Facilities Authority - Tulane University | 4.00% | 4/1/2050 | A+ | 9040000 | 7598667 |
| Maine Health & Higher Educational Facilities Authority - Northeastern University | 5.25% | 10/1/2054 | A1 | 14765000 | 15035165 |
| Massachusetts Development Finance Agency - Emmanuel College/MA | 5.00% | 10/1/2043 | Baa3 | 6000000 | 5623040 |
| Massachusetts Development Finance Agency - Franklin W Olin College of Engineering Inc | 5.25% | 11/1/2051 | A | 8500000 | 8656268 |
| Massachusetts Development Finance Agency - Suffolk University | 5.00% | 7/1/2032 | Baa3 | 3750000 | 3782821 |
| Massachusetts Development Finance Agency - Suffolk University | 5.00% | 7/1/2033 | Baa3 | 1250000 | 1257964 |
| Massachusetts Development Finance Agency - Suffolk University | 5.00% | 7/1/2034 | Baa3 | 1600000 | 1606817 |
| Massachusetts Development Finance Agency - Suffolk University | 5.25% | 7/1/2055 | Baa3 | 11850000 | 11333146 |
| Massachusetts Development Finance Agency - Suffolk University | 5.50% | 7/1/2045 | Baa3 | 2900000 | 2940443 |

---

*See Notes to Schedule of Investments.* 69

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| Massachusetts Development Finance Agency - Suffolk University | 6.00% | 7/1/2050 | Baa3 | $5250000 | $5524673 |
| Massachusetts Development Finance Agency - Trustees of Boston University | 5.00% | 10/1/2048 | AA- | 4650000 | 4754697 |
| Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board - Lipscomb University Obligated Group TN | 5.25% | 10/1/2058 | BBB- | 5165000 | 5068819 |
| Michigan State University | 5.25% | 2/15/2050 | AA | 8000000 | 8318941 |
| Middlesex County Improvement Authority - Rutgers The State University of New Jersey<sup>(c)</sup> | 5.00% | 8/15/2053 | Aa3 | 15000000 | 15364709 |
| Montebello Unified School District CA GO (AG) | 5.50% | 8/1/2047 | AA | 6500000 | 6780320 |
| New Jersey Educational Facilities Authority | 5.25% | 9/1/2053 | A2 | 2100000 | 2150852 |
| New York St Dorm Auth Revenues Nyshgr 07/55 Fixed 5.25<sup>(c)</sup> | 5.25% | 7/1/2055 | AA- | 14750000 | 15236577 |
| New York State Dormitory Authority - Cornell University | 5.50% | 7/1/2054 | Aa1 | 22500000 | 23725645 |
| New York State Dormitory Authority - Icahn School of Medicine Mount Sinai | 5.00% | 7/1/2040 | BBB+ | 5000000 | 4997427 |
| New York State Dormitory Authority - New School | 4.00% | 7/1/2052 | A3 | 4870000 | 3989920 |
| New York State Dormitory Authority - New York Institute of Technology NY | 5.25% | 7/1/2049 | BBB | 1300000 | 1330514 |
| New York State Dormitory Authority - New York Institute of Technology NY | 5.25% | 7/1/2054 | BBB | 1900000 | 1935585 |
| New York State Dormitory Authority - Pace University | 5.50% | 5/1/2056 | BBB- | 13175000 | 13173585 |
| New York State Dormitory Authority - Yeshiva University | 5.00% | 7/15/2042 | BBB- | 3720000 | 3702017 |
| Ohio Higher Educational Facility Commission<sup>(c)</sup> | 5.25% | 10/1/2053 | AA- | 11500000 | 11914095 |
| Ohio Higher Educational Facility Commission - Oberlin College | 5.25% | 10/1/2053 | AA- | 2680000 | 2776502 |
| Ohio Higher Educational Facility Commission - Xavier University | 5.25% | 5/1/2049 | Baa1 | 2805000 | 2789586 |
| Ohio Higher Educational Facility Commission - Xavier University | 5.25% | 5/1/2054 | Baa1 | 4690000 | 4602835 |
| Onondaga Civic Development Corp.<sup>(c)</sup> | 5.50% | 12/1/2056 | AA- | 12745000 | 13527834 |

---

70 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| Pennsylvania State University<sup>(c)</sup> | 5.50% | 9/1/2055 | AA | $22000000 | $23533120 |
| Public Finance Authority - Triad Math & Science Academy Co WI | 5.25% | 6/15/2065 | BBB- | 2000000 | 1870592 |
| Public Finance Authority - Triad Math & Science Academy Co WI | 5.50% | 6/15/2055 | BBB- | 1050000 | 1040804 |
| Public Finance Authority - Wingate University WI | 5.25% | 10/1/2038 | BBB- | 2220000 | 2174066 |
| Public Finance Authority - Wingate University WI | 5.25% | 10/1/2043 | BBB- | 1000000 | 941569 |
| Rhode Island Health & Educational Building Corp. - Providence College | 5.00% | 11/1/2053 | A | 12975000 | 12882373 |
| Shaker Heights City School District OH GO | 5.25% | 12/15/2059 | AA | 7380000 | 7657264 |
| Sierra Vista Industrial Development Authority - American Leadership Academy Inc AZ<sup>†</sup> | 5.00% | 6/15/2054 | NR | 700000 | 634696 |
| Sierra Vista Industrial Development Authority - American Leadership Academy Inc AZ<sup>†</sup> | 5.00% | 6/15/2059 | NR | 700000 | 626749 |
| Town of Davie - Nova Southeastern University Inc FL | 5.00% | 4/1/2048 | A- | 3000000 | 2983515 |
| University of Connecticut | 5.25% | 11/15/2047 | Aa3 | 8080000 | 8202443 |
| University of Illinois (AG) | 4.00% | 4/1/2038 | AA | 4965000 | 4858855 |
| University of North Carolina at Wilmington | 5.00% | 6/1/2037 | A1 | 7055000 | 7058858 |
| University of Oregon TCRS (BAM) | 3.50% | 4/1/2052 | AA | 5000000 | 3933958 |
| Waco Educational Finance Corp. - Baylor University TX | 5.25% | 3/1/2052 | A+ | 3775000 | 3854574 |
| Waco Educational Finance Corp. - Baylor University TX | 5.25% | 3/1/2053 | A+ | 3975000 | 4053641 |
| Washington State Housing Finance Commission - Seattle Academy of Arts & Sciences† | 6.125% | 7/1/2053 | BBB | 2500000 | 2647070 |
| Washington State Housing Finance Commission - Seattle Academy of Arts & Sciences<sup>†</sup> | 6.375% | 7/1/2063 | BBB | 1525000 | 1631780 |
| *Total* |  |  |  |  | 553987002 |
| **Electric Revenue Bonds 0.34%** |  |  |  |  |  |
| City of San Antonio TX Electric & Gas Systems Revenue<sup>(c)</sup> | 5.00% | 2/1/2054 | Aa2 | 15000000 | 15241182 |

---

*See Notes to Schedule of Investments.* 71

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Energy 0.39%** |  |  |  |  |  |  |
| Main Street Natural Gas, Inc. GA | 5.00% |  | 5/15/2038 | A1 | $3745000 | $3883933 |
| PEFA, Inc. IA | 5.00% | <sup>#(a)</sup> | 9/1/2049 | A3 | 13635000 | 13803096 |
| *Total* |  |  |  |  |  | 17687029 |
| **Financial Services 0.11%** |  |  |  |  |  |  |
| Massachusetts Educational Financing Authority AMT | 4.125% |  | 7/1/2046 | BBB | 5755000 | 4754602 |
| **General Obligation 11.89%** |  |  |  |  |  |  |
| California Community Choice Financing Authority | 5.25% | <sup>#(a)</sup> | 1/1/2054 | Baa1 | 41700000 | 43718334 |
| California State Public Works Board - State of California Department of General Services | 5.00% |  | 4/1/2049 | Aa3 | 9600000 | 9905493 |
| Chicago Board of Education IL GO | 4.00% |  | 12/1/2040 | BB+ | 2600000 | 2292265 |
| Chicago Board of Education IL GO | 4.00% |  | 12/1/2041 | BB+ | 5000000 | 4329348 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2029 | BB+ | 2000000 | 2039028 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2030 | BB+ | 2070000 | 2100928 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2031 | BB+ | 1000000 | 1011390 |
| Chicago Board of Education IL GO | 5.875% |  | 12/1/2047 | BB+ | 3750000 | 3892784 |
| Chicago Board of Education IL GO | 6.00% |  | 12/1/2049 | BB+ | 4875000 | 5085776 |
| Chicago Board of Education IL GO | 6.50% |  | 12/1/2046 | BB+ | 1100000 | 1111052 |
| Chicago Board of Education IL GO<sup>†</sup> | 7.00% |  | 12/1/2046 | BB+ | 1200000 | 1233408 |
| City of Chicago IL GO | 5.50% |  | 1/1/2039 | BBB | 2125000 | 2187687 |
| City of Chicago IL GO | 5.50% |  | 1/1/2049 | BBB | 14285000 | 14186889 |
| City of Chicago IL GO | 6.00% |  | 1/1/2050 | BBB | 8500000 | 8775953 |
| City of Horace ND GO | 4.50% |  | 5/1/2039 | Baa3 | 1250000 | 1204662 |
| City of Horace ND GO | 4.75% |  | 5/1/2044 | Baa3 | 1100000 | 1043846 |
| City of New York NY GO | 5.00% |  | 8/1/2051 | AA | 9775000 | 9872849 |
| City of New York NY GO | 5.25% |  | 9/1/2043 | AA | 6500000 | 6811137 |
| City of New York NY GO | 5.25% |  | 2/1/2053 | AA | 4350000 | 4520302 |
| City of New York NY GO | 5.25% |  | 4/1/2054 | AA | 8500000 | 8788961 |
| City of New York NY GO | 5.50% |  | 5/1/2046 | AA | 2675000 | 2819172 |
| City of New York NY GO TCRS (BAM) | 3.00% |  | 3/1/2051 | AA | 5000000 | 3503479 |
| Commonwealth of Massachusetts GO | 5.00% |  | 4/1/2042 | AA+ | 1740000 | 1844253 |
| Commonwealth of Massachusetts GO | 5.00% |  | 4/1/2043 | AA+ | 2000000 | 2105328 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2037 | NR | 8782789 | 8376453 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2046 | NR | 15000000 | 12833479 |
| Commonwealth of Puerto Rico GO | 5.375% |  | 7/1/2025 | NR | 2576932 | 2576932 |

---

72 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  |  |  |
| County of Anne Arundel MD GO | 3.00% | 10/1/2044 | AAA | $7415000 | $5671381 |
| County of Cook IL GO | 5.00% | 11/15/2030 | A+ | 1000000 | 1021315 |
| County of Cook IL GO | 5.00% | 11/15/2035 | A+ | 1000000 | 1015665 |
| County of Harris TX GO | 4.00% | 9/15/2049 | Aaa | 8000000 | 6938717 |
| County of Luzerne PA GO (AG) | 5.00% | 11/15/2029 | AA | 4215000 | 4245175 |
| County of Pasco - State of Florida Cigarette Tax Revenue (AG) | 5.75% | 9/1/2054 | AA | 4770000 | 5029509 |
| El Paso County Hospital District TX GO (AG)<sup>(e)</sup> | 5.50% | 2/15/2055 | AA | 12000000 | 12446670 |
| Forney Independent School District TX GO (PSF-GTD) | 3.00% | 2/15/2045 | AAA | 6050000 | 4469278 |
| Grant County Public Hospital District No. 1 WA GO | 5.125% | 12/1/2048 | Baa2 | 5000000 | 4882369 |
| King County Public Hospital District No. 4 WA GO | 5.00% | 12/1/2038 | NR | 5000000 | 4869511 |
| Louisiana Stadium & Exposition District | 5.25% | 7/1/2053 | A2 | 15715000 | 15954704 |
| Main Street Natural Gas, Inc. GA | 5.00% | 5/15/2027 | A1 | 4500000 | 4620912 |
| Main Street Natural Gas, Inc. GA | 5.00% | 5/15/2029 | A1 | 2940000 | 3087989 |
| Metropolitan Government Nashville & Davidson County Sports Authority TN (AG) | 5.25% | 7/1/2048 | AA | 2000000 | 2076179 |
| Metropolitan Government Nashville & Davidson County Sports Authority TN (AG) | 5.25% | 7/1/2048 | AA | 3980000 | 4092272 |
| Metropolitan Government Nashville & Davidson County Sports Authority TN (AG) | 5.25% | 7/1/2053 | AA | 4000000 | 4119878 |
| Metropolitan Government Nashville & Davidson County Sports Authority TN (AG) | 5.25% | 7/1/2053 | AA | 5000000 | 5104385 |
| Metropolitan Pier & Exposition Authority IL | 4.00% | 6/15/2050 | A | 25900000 | 21397663 |
| Metropolitan Pier & Exposition Authority IL (AG) | 4.00% | 6/15/2050 | AA | 6000000 | 5030323 |
| New Jersey Economic Development Authority - New Jersey Transit Corp | 5.25% | 11/1/2047 | A2 | 11050000 | 11316074 |
| New Jersey Transportation Trust Fund Authority | Zero Coupon | 12/15/2029 | A2 | 10365000 | 8976712 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.25% | 6/15/2041 | A2 | 6250000 | 6586129 |

---

*See Notes to Schedule of Investments.* 73

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  |  |  |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.25% | 6/15/2042 | A2 | $2000000 | $2093714 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.00% | 2/1/2044 | AAA | 15000000 | 15436513 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.50% | 11/1/2045 | AAA | 7500000 | 7941343 |
| New York State Thruway Authority - State of New York Personal Income Tax Revenue | 3.00% | 3/15/2048 | AA+ | 19635000 | 14224161 |
| New York State Thruway Authority - State of New York Personal Income Tax Revenue | 3.00% | 3/15/2049 | AA+ | 7085000 | 5077878 |
| New York State Thruway Authority - State of New York Personal Income Tax Revenue | 3.00% | 3/15/2051 | AA+ | 4110000 | 2893725 |
| New York State Urban Development Corp. - State of New York Sales Tax Revenue | 3.00% | 3/15/2049 | Aa1 | 4970000 | 3531632 |
| Pennsylvania Economic Development Financing Authority - Commonwealth of Pennsylvania Department of Transportation AMT | 6.00% | 6/30/2061 | Baa2 | 33325000 | 34920881 |
| San Francisco Bay Area Rapid Transit District Sales Tax Revenue CA | 3.00% | 7/1/2044 | AA+ | 6505000 | 5048877 |
| School District of Philadelphia PA GO (ST AID WITHHLDG) | 5.00% | 9/1/2037 | Aa3 | 1200000 | 1220830 |
| Southwest Local School District/Hamilton County OH GO (SD CRED PROG) | 4.00% | 1/15/2055 | Aa1 | 7000000 | 6054416 |
| St. Louis County Reorganized School District No. R-6 MO GO | 3.35% | 2/1/2037 | AAA | 6350000 | 5831787 |
| St. Louis County Reorganized School District No. R-6 MO GO | 3.40% | 2/1/2038 | AAA | 6150000 | 5567270 |
| State of California GO | 5.00% | 3/1/2044 | Aa2 | 3000000 | 3179137 |
| State of California GO | 5.25% | 8/1/2032 | Aa2 | 7500000 | 7509641 |
| State of California GO | 5.25% | 10/1/2050 | Aa2 | 7500000 | 7884796 |
| State of Connecticut GO | 3.00% | 11/15/2042 | AA- | 4000000 | 3142189 |
| State of Connecticut GO | 3.00% | 11/15/2043 | AA- | 2800000 | 2155351 |
| State of Illinois GO | 4.00% | 11/1/2037 | A- | 6810000 | 6429042 |
| State of Illinois GO | 5.00% | 1/1/2035 | A- | 6200000 | 6225777 |
| State of Illinois GO | 5.00% | 12/1/2035 | A- | 2145000 | 2185454 |
| State of Illinois GO | 5.00% | 5/1/2038 | A- | 4515000 | 4586929 |

---

74 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  |  |  |
| State of Illinois GO | 5.00% | 1/1/2041 | A- | $3580000 | $3541709 |
| State of Illinois GO | 5.00% | 5/1/2043 | A- | 3000000 | 3006434 |
| State of Illinois GO | 5.25% | 5/1/2045 | A- | 2500000 | 2542881 |
| State of Illinois GO | 5.50% | 5/1/2039 | A- | 8250000 | 8645615 |
| State of Illinois GO | 5.50% | 10/1/2039 | A- | 6000000 | 6387914 |
| State of Illinois GO | 5.50% | 3/1/2042 | A- | 5250000 | 5481146 |
| State of Illinois GO | 5.50% | 3/1/2047 | A- | 18425000 | 18816778 |
| State of Illinois GO | 5.50% | 5/1/2047 | A- | 11165000 | 11402962 |
| State of Illinois GO | 5.75% | 5/1/2045 | A- | 2600000 | 2699969 |
| Union County Utilities Authority - Covanta Union LLC NJ GTD AMT | 4.75% | 12/1/2031 | AA+ | 3775000 | 3775085 |
| Washington State Convention Center Public Facilities District | 5.00% | 7/1/2048 | A3 | 7000000 | 6858231 |
| Washington Township Health Care District CA GO | 5.50% | 8/1/2053 | AA | 2000000 | 2113867 |
| *Total* |  |  |  |  | 539537932 |
| **Health Care 17.04%** |  |  |  |  |  |
| Antelope Valley Healthcare District Obligated Group CA | 5.00% | 3/1/2041 | BBB | 3000000 | 2807660 |
| Antelope Valley Healthcare District Obligated Group CA | 5.00% | 3/1/2046 | BBB | 2615000 | 2309771 |
| Astoria Hospital Facilities Authority - Columbia Lutheran Charities Obligated Group OR | 5.25% | 8/1/2049 | BBB | 3950000 | 3889321 |
| Astoria Hospital Facilities Authority - Columbia Lutheran Charities Obligated Group OR | 5.25% | 8/1/2054 | BBB | 4250000 | 4126986 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | Zero Coupon | 6/30/2044 | NR | 8008000 | 5802377 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 5.00% | 6/30/2039 | NR | 16473000 | 15221470 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 6.00% | 6/30/2034 | NR | 1218914 | 1290853 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 8.00% | 6/30/2034 | NR | 2432609 | 2485360 |
| California Health Facilities Financing Authority - Cedars-Saini Medical Center Obligated Group | 3.00% | 8/15/2051 | AA- | 5565000 | 3863175 |
| California Health Facilities Financing Authority - Children's Hospital Los Angeles Obligated Group | 5.00% | 8/15/2047 | Baa3 | 3025000 | 2912216 |

---

*See Notes to Schedule of Investments.* 75

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| California Municipal Finance Authority - Community Hospitals of Central California Obligated Group | 5.00% | 2/1/2047 | A3 | $6940000 | $6942134 |
| California Municipal Finance Authority - PRS-California Obligated Group | 5.00% | 4/1/2049 | BBB+ <sup>(d)</sup> | 1300000 | 1268414 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.25% | 12/1/2043 | BB | 4510000 | 4472373 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.25% | 12/1/2056 | BB | 4500000 | 4319343 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group | 5.50% | 12/1/2054 | BB | 6875000 | 6767133 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.50% | 12/1/2058 | BB | 3375000 | 3299059 |
| Chattanooga Health Educational & Housing Facility Board - Erlanger Health Obligated Group TN | 5.25% | 12/1/2054 | A | 20000000 | 20058634 |
| City of Colby KS - Citizens Medical Center Inc | 5.50% | 7/1/2026 | NR | 7400000 | 7417855 |
| City of Minneapolis - Fairview Health Services Obligated Group MN | 5.00% | 11/15/2049 | BBB+ | 12120000 | 11861895 |
| City of Seneca - Nemaha Valley Community Hospital KS | 5.00% | 9/1/2025 | NR | 4000000 | 4001348 |
| City of St. Cloud - CentraCare Health System Obligated Group MN | 5.00% | 5/1/2054 | A2 | 8750000 | 8658849 |
| City of Tampa - H Lee Moffitt Cancer Center & Research Institute Obligated Group FL | 4.00% | 7/1/2045 | A | 7400000 | 6354785 |
| Colorado Health Facilities Authority - CommonSpirit Health Obligated Group | 5.50% | 11/1/2047 | A- | 4390000 | 4505321 |
| Columbia County Hospital Authority - WellStar Health System Obligated Group GA | 5.75% | 4/1/2053 | A+ | 2670000 | 2802724 |
| Connecticut State Health & Educational Facilities Authority - Nuvance Health Obligated Group | 4.00% | 7/1/2041 | BBB+ | 7920000 | 7259418 |
| Connecticut State Health & Educational Facilities Authority - Nuvance Health Obligated Group | 4.00% | 7/1/2049 | BBB+ | 6875000 | 5908242 |

---

76 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| County of Cuyahoga - MetroHealth System OH | 5.50% | 2/15/2052 | BBB | $8925000 | $8748978 |
| County of Cuyahoga - MetroHealth System OH | 5.50% | 2/15/2057 | BBB | 5250000 | 5103928 |
| County of Cuyahoga - MetroHealth System/The OH | 5.00% | 2/15/2057 | BBB | 5185000 | 4790673 |
| County of Muskingum - Genesis Healthcare Obligated Group OH | 5.00% | 2/15/2044 | BB+ | 2650000 | 2526314 |
| County of Warren - Bowling Green-Warren County Community Hospital Corp KY | 5.25% | 4/1/2049 | AA- | 8610000 | 8773571 |
| County of Warren - Bowling Green-Warren County Community Hospital Corp KY | 5.25% | 4/1/2054 | AA- | 8000000 | 8112282 |
| Crawford County Hospital Authority - Meadville Medical Center Obligated Group PA | 6.00% | 6/1/2046 | NR | 950000 | 953282 |
| Crawford County Hospital Authority - Meadville Medical Center Obligated Group PA | 6.00% | 6/1/2051 | NR | 1115000 | 1110833 |
| Cumberland County Municipal Authority - Penn State Health Obligated Group PA | 3.00% | 11/1/2038 | A | 4315000 | 3654304 |
| Denver Health & Hospital Authority CO | 5.125% | 12/1/2050 | BBB | 1000000 | 991025 |
| Denver Health & Hospital Authority CO | 5.25% | 12/1/2045 | BBB | 700000 | 701224 |
| Denver Health & Hospital Authority CO | 6.00% | 12/1/2055 | BBB | 3050000 | 3222688 |
| Duluth Economic Development Authority - Essentia Health Obligated Group MN | 5.25% | 2/15/2053 | A- | 2870000 | 2872240 |
| Duluth Economic Development Authority - Essentia Health Obligated Group MN | 5.25% | 2/15/2058 | A- | 21000000 | 20900607 |
| Duluth Economic Development Authority - St Luke's Hospital of Duluth Obligated MN | 5.25% | 6/15/2052 | AA- | 5000000 | 5068760 |
| Genesee County Funding Corp. - Rochester Regional Health Obligated NY | 5.25% | 12/1/2052 | BBB+ | 4000000 | 3986251 |
| Greater Texas Cultural Education Facilities Finance Corp. - Texas Biomedical Research Institute TX | 5.00% | 6/1/2043 | Baa2 | 4720000 | 4697024 |
| Greater Texas Cultural Education Facilities Finance Corp. - Texas Biomedical Research Institute TX | 5.00% | 6/1/2044 | Baa2 | 4135000 | 4094961 |
| Greenville Health System - Prisma Health Obligated Group SC | 5.00% | 5/1/2034 | A | 3970000 | 3975054 |
| Isle of Weight County Economic Development Authority - Riverside Healthcare Association Obligated Group VA (AG) | 5.25% | 7/1/2048 | AA | 3000000 | 3080531 |

---

*See Notes to Schedule of Investments.* 77

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Isle of Weight County Economic Development Authority - Riverside Healthcare Association Obligated Group VA (AG) | 5.25% | 7/1/2053 | AA | $6000000 | $6067876 |
| Lee County Industrial Development Authority - Lee Health System Inc Obligated Group FL | 4.00% | 4/1/2049 | A+ | 5500000 | 4596645 |
| Louisiana Public Facilities Authority - Ochsner Clinic Foundation Obligated Group | 5.50% | 5/15/2055 | A | 5000000 | 5196496 |
| Louisville/Jefferson County Metropolitan Government - Norton Healthcare Obligated Group KY | 5.00% | 10/1/2041 | A | 3200000 | 3275560 |
| Maryland Health & Higher Educational Facilities Authority - Adventist Healthcare Obligated Group | 5.00% | 1/1/2036 | Baa3 | 3290000 | 3389976 |
| Maryland Health & Higher Educational Facilities Authority - Adventist Healthcare Obligated Group | 5.50% | 1/1/2046 | Baa3 | 17990000 | 18022873 |
| Maryland Health & Higher Educational Facilities Authority - Mercy Medical Center Obligated Group | 5.00% | 7/1/2036 | A- | 1320000 | 1330113 |
| Maryland Health & Higher Educational Facilities Authority - Mercy Medical Center Obligated Group | 5.00% | 7/1/2038 | A- | 2250000 | 2260383 |
| Massachusetts Development Finance Agency - Boston Medical Center Corp Obligated Group | 5.00% | 7/1/2033 | BBB | 2575000 | 2582395 |
| Massachusetts Development Finance Agency - Boston Medical Center Corp Obligated Group | 5.00% | 7/1/2037 | BBB | 4030000 | 4034538 |
| Massachusetts Development Finance Agency - Boston Medical Center Corp Obligated Group | 5.25% | 7/1/2048 | BBB | 2600000 | 2579003 |
| Massachusetts Development Finance Agency - Mass General Brigham Inc | 5.00% | 7/1/2054 | AA- | 11000000 | 11015732 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 4.00% | 7/1/2035 | BBB- | 2000000 | 1866065 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 4.00% | 7/1/2044 | BBB- | 5380000 | 4447250 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 5.00% | 7/1/2039 | BBB- | 3360000 | 3315416 |

---

78 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 5.00% | 7/1/2044 | BBB- | $1600000 | $1515468 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 8.50% | 10/1/2026 | BBB- | 8910000 | 8958735 |
| Michigan Finance Authority Provident Group - HFH Energy LLC | 5.50% | 2/28/2049 | A3 | 3100000 | 3218712 |
| Michigan Finance Authority Provident Group - HFH Energy LLC | 5.50% | 2/28/2057 | A3 | 2200000 | 2270113 |
| Minnesota Agricultural & Economic Development Board - HealthPartners Obligated Group | 5.25% | 1/1/2054 | A | 12900000 | 13060813 |
| Monroe County Hospital Authority - Centurion Foundation Lehigh Valley LLC PA<sup>†</sup> | 5.10% | 6/15/2039 | NR | 10000000 | 9539116 |
| Montana Facility Finance Authority - Kalispell Regional Medical Center Obligated Group | 5.00% | 7/1/2043 | A | 4000000 | 3989920 |
| Montana Facility Finance Authority - Kalispell Regional Medical Center Obligated Group | 5.00% | 7/1/2048 | A | 5760000 | 5696929 |
| Montgomery County Higher Education & Health Authority - Thomas Jefferson University Obligated Group PA (AG) | 4.00% | 5/1/2056 | AA | 4020000 | 3271958 |
| Montgomery County Higher Education & Health Authority - Thomas Jefferson University Obligated Group PA | 4.00% | 9/1/2049 | A | 3960000 | 3345669 |
| Nassau County Local Economic Assistance Corp. - Catholic Health Services of Long Island Obligated Group NY | 5.00% | 7/1/2029 | A- | 1000000 | 1000844 |
| Nassau County Local Economic Assistance Corp. - Catholic Health Services of Long Island Obligated Group NY | 5.00% | 7/1/2030 | A- | 580000 | 580412 |
| Nassau County Local Economic Assistance Corp. - Catholic Health Services of Long Island Obligated Group NY | 5.00% | 7/1/2031 | A- | 1620000 | 1620918 |
| Nassau County Local Economic Assistance Corp. - Catholic Health Services of Long Island Obligated Group NY | 5.00% | 7/1/2034 | A- | 1100000 | 1100087 |
| Nebraska Educational Health Cultural & Social Services Finance Authority - Immanuel Retirement Communities Obligated Group | 4.00% | 1/1/2044 | &nbsp;&nbsp;&nbsp;&nbsp;AA <sup>(d)</sup> | 3500000 | 3070849 |

---

*See Notes to Schedule of Investments.* 79

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| New Hampshire Business Finance Authority - NFA UH SPV LLC<sup>†</sup> | 5.625% | 12/15/2033 | NR | $2100000 | $2137887 |
| New Hampshire Business Finance Authority - NFA UH SPV LLC<sup>†</sup> | 6.25% | 12/15/2038 | NR | 2075000 | 2102772 |
| New Hampshire Business Finance Authority - Novant Health Obligated Group | 5.50% | 6/1/2050 | A+ | 20925000 | 21492660 |
| New Hampshire Health & Education Facilities Authority Act - Dartmouth Health Obligated Group | 5.50% | 8/1/2050 | A | 21000000 | 21906690 |
| New Jersey Health Care Facilities Financing Authority - St Joseph's Healthcare System Obligated Group | 4.00% | 7/1/2048 | BBB- | 8110000 | 6698076 |
| New York State Dormitory Authority - Garnet Health Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2031 | BB- | 1300000 | 1303233 |
| New York State Dormitory Authority - Garnet Health Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2040 | BB- | 1300000 | 1173433 |
| New York State Dormitory Authority - Memorial Sloan-Kettering Cancer Center | 5.25% | 7/1/2054 | AA- | 2000000 | 2079011 |
| New York State Dormitory Authority - Montefiore Obligated Group | 4.00% | 8/1/2038 | BBB- | 4900000 | 4530299 |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.00% | 8/1/2028 | BBB- | 3055000 | 3173605 |
| New York State Dormitory Authority - Northwell Health Obligated Group<sup>(c)</sup> | 5.00% | 5/1/2052 | A- | 33500000 | 33240094 |
| New York State Dormitory Authority - Northwell Health Obligated Group | 5.25% | 5/1/2054 | A- | 25000000 | 25460382 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.25% | 10/1/2049 | BBB- | 3000000 | 3022924 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group (AG) | 5.50% | 10/1/2054 | AA | 6500000 | 6772438 |
| Niagara Area Development Corp. - Catholic Health System Obligated Group NY | 4.50% | 7/1/2052 | B- | 2475000 | 2119707 |
| Niagara Area Development Corp. - Catholic Health System Obligated Group NY | 5.00% | 7/1/2052 | B- | 1500000 | 1383288 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.25% | 8/15/2048 | BB | 4660000 | 4507558 |

---

80 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.50% | 8/15/2052 | BB | $10015000 | $9898128 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.50% | 8/15/2057 | BB | 10000000 | 9806948 |
| Orange County Health Facilities Authority<sup>(c)</sup> | 5.25% | 10/1/2056 | A+ | 30000000 | 30500904 |
| Orange County Health Facilities Authority<sup>(c)</sup> | 5.25% | 10/1/2056 | A+ | 6650000 | 6761034 |
| Oregon State Facilities Authority - Providence St Joseph Health Obligated Group | 5.00% | 10/1/2045 | A | 7000000 | 6999107 |
| Palm Beach County Health Facilities Authority - Baptist Health South Obligated Group FL | 4.00% | 8/15/2049 | AA- | 6765000 | 5634984 |
| Palomar Health Obligated Group CA | 5.00% | 11/1/2036 | B | 11025000 | 9480616 |
| Palomar Health Obligated Group CA | 5.00% | 11/1/2039 | B | 8240000 | 6653285 |
| Pennsylvania Economic Development Financing Authority - UPMC Obligated Group | 4.00% | 5/15/2048 | A | 3500000 | 3000639 |
| Pennsylvania Higher Educational Facilities Authority - Thomas Jefferson University Obligated Group | 5.50% | 11/1/2054 | A | 16750000 | 17229484 |
| Pennsylvania Higher Educational Facilities Authority - University of Pennsylvania Health System Obligated Group/The | 5.00% | 8/15/2042 | AA | 3455000 | 3471111 |
| Pennsylvania Higher Educational Facilities Authority - University of Pennsylvania Health System Obligated Group/The<sup>(e)</sup> | 5.50% | 8/15/2055 | AA | 4150000 | 4369862 |
| Public Finance Authority - Proton International Alabama LLC WI<sup>†(b)</sup> | 6.85% | 10/1/2047 | NR | 1410000 | 141000 |
| Rhode Island Health & Educational Building Corp. - Lifespan Obligated Group | 5.25% | 5/15/2049 | BBB+ | 1825000 | 1825651 |
| Roanoke Economic Development Authority - Carilion Clinic Obligated Group | 3.00% | 7/1/2045 | AA- | 20740000 | 15216467 |
| Skagit County Public Hospital District No. 1 WA | 5.50% | 12/1/2054 | Baa3 | 3720000 | 3785181 |
| South Broward Hospital District Obligated Group FL TCRS (BAM) | 3.00% | 5/1/2051 | AA | 5150000 | 3651203 |
| South Carolina Jobs-Economic Development Authority - Bon Secours Mercy Health Inc | 5.00% | 12/1/2046 | A+ | 8000000 | 7976291 |
| South Carolina Jobs-Economic Development Authority - Novant Health Obligated Group | 5.50% | 11/1/2046 | A+ | 9500000 | 9961683 |

---

*See Notes to Schedule of Investments.* 81

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| South Carolina Jobs-Economic Development Authority - Novant Health Obligated Group | 5.50% | 11/1/2054 | A+ | $19640000 | $20361972 |
| State of Ohio - Premier Health Partners Obligated | 4.00% | 11/15/2039 | Baa1 | 2640000 | 2408120 |
| Tarrant County Cultural Education Facilities Finance Corp TX<sup>(c)</sup> | 5.00% | 7/1/2053 | A1 | 9550000 | 9193434 |
| Virginia Small Business Financing Authority - Mary Washington Healthcare Obligated Group | 5.25% | 6/15/2050 | A3 | 5000000 | 5066552 |
| Virginia Small Business Financing Authority - Mary Washington Healthcare Obligated Group | 5.25% | 6/15/2055 | A3 | 8500000 | 8598264 |
| Washington Health Care Facilities Authority - Overlake Hospital Medical Center Obligated Group | 5.00% | 7/1/2038 | A | 4000000 | 3999951 |
| West Virginia Hospital Finance Authority - Vandalia Health Inc Obligated Group | 6.00% | 9/1/2048 | BBB+ | 2060000 | 2207807 |
| West Virginia Hospital Finance Authority - Vandalia Health Inc Obligated Group | 6.00% | 9/1/2053 | BBB+ | 3250000 | 3459601 |
| Westchester County Health Care Corp Obligated Group NY | 6.00% | 11/1/2030 | BB+ | 100000 | 100159 |
| Westchester County Health Care Corp Obligated Group NY | 6.125% | 11/1/2037 | BB+ | 30000 | 30067 |
| Westchester County Health Care Corp Obligated Group NY (AG) | 5.00% | 11/1/2051 | AA | 2750000 | 2757580 |
| Westchester County Health Care Corp Obligated Group NY (AG) | 5.75% | 11/1/2048 | AA | 1750000 | 1877709 |
| Wisconsin Health & Educational Facilities Authority - Ascension Health Credit Group | 4.00% | 11/15/2046 | AA | 4065000 | 3529283 |
| Wisconsin Health & Educational Facilities Authority - Marshfield Clinic Health System Obligated Group | 5.50% | 2/15/2054 | A | 9750000 | 10220272 |
| Wisconsin Health & Educational Facilities Authority - Marshfield Clinic Health System Obligated Group (BAM) | 5.25% | 2/15/2054 | AA | 1250000 | 1283123 |
| Wisconsin Health & Educational Facilities Authority - Sauk-Prairie Memorial Hospital Inc Obligated Group | 5.375% | 2/1/2048 | Ba2 | 840000 | 788498 |
| Yuma Industrial Development Authority - Yuma Regional Medical Center Obligated Group AZ | 5.25% | 8/1/2054 | A | 13500000 | 13577610 |
| *Total* |  |  |  |  | 773119747 |

---

82 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing 3.98%** |  |  |  |  |  |
| California Municipal Finance Authority - Bowles Hall Foundation | 5.00% | 6/1/2050 | Baa3 | $1410000 | $1376833 |
| Capital Projects Finance Authority - Provident Group - Continuum Properties LLC FL | 5.00% | 11/1/2039 | Baa3 | 1000000 | 981775 |
| Capital Projects Finance Authority - Provident Group - Continuum Properties LLC FL | 5.00% | 11/1/2041 | Baa3 | 1000000 | 958958 |
| Capital Projects Finance Authority - Provident Group - Continuum Properties LLC FL | 5.00% | 11/1/2048 | Baa3 | 1350000 | 1248223 |
| Capital Projects Finance Authority - Provident Group - Continuum Properties LLC FL | 5.00% | 11/1/2053 | Baa3 | 1745000 | 1584111 |
| Capital Projects Finance Authority - Provident Group - Continuum Properties LLC FL | 5.00% | 11/1/2058 | Baa3 | 1750000 | 1565537 |
| CMFA Special Finance Agency CA<sup>†</sup> | 4.00% | 12/1/2045 | NR | 5000000 | 3797318 |
| CSCDA Community Improvement Authority Jefferson Platinum Triangle Apartments CA<sup>†</sup> | 3.125% | 8/1/2056 | NR | 4500000 | 3237357 |
| CSCDA Community Improvement Authority Westgate Apartments CA<sup>†</sup> | 4.00% | 6/1/2057 | NR | 4020000 | 1196627 |
| Delaware State Housing Authority (FHLMC), (FNMA), (GNMA) | 6.00% | 1/1/2055 | Aa1 | 8180000 | 8923036 |
| Florida Housing Finance Corp. (FHLMC), (FNMA), (GNMA) | 6.25% | 7/1/2055 | Aaa | 4835000 | 5338911 |
| Indiana Finance Authority - CHF-Tippecanoe LLC | 5.00% | 6/1/2053 | BBB- | 1350000 | 1291990 |
| Indiana Finance Authority - CHF-Tippecanoe LLC | 5.125% | 6/1/2058 | BBB- | 1700000 | 1646068 |
| Indiana Finance Authority - CHF-Tippecanoe LLC | 5.375% | 6/1/2064 | BBB- | 4460000 | 4420099 |
| Indiana Finance Authority - SFP-PUFW I LLC | 5.00% | 7/1/2054 | BBB- | 1175000 | 1124898 |
| Indiana Finance Authority - SFP-PUFW I LLC | 5.25% | 7/1/2064 | BBB- | 1625000 | 1580320 |
| Knox County Health Educational & Housing Facility Board - Provident Group - UTK Properties LLC TN (BAM) | 5.25% | 7/1/2049 | AA | 2700000 | 2741570 |
| Knox County Health Educational & Housing Facility Board - Provident Group - UTK Properties LLC TN (BAM) | 5.50% | 7/1/2054 | AA | 1150000 | 1179215 |

---

*See Notes to Schedule of Investments.* 83

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing (continued)** |  |  |  |  |  |  |
| Knox County Health Educational & Housing Facility Board - Provident Group - UTK Properties LLC TN (BAM) | 5.50% |  | 7/1/2059 | AA | $2000000 | $2042776 |
| Knox County Health Educational & Housing Facility Board TN (BAM) | 5.125% |  | 7/1/2054 | AA | 3775000 | 3766989 |
| Knox County Health Educational & Housing Facility Board TN (BAM) | 5.125% |  | 7/1/2059 | AA | 1330000 | 1324654 |
| Maryland Economic Development Corp. | 5.75% |  | 7/1/2053 | BBB- | 2000000 | 2074994 |
| Maryland Economic Development Corp. | 6.00% |  | 7/1/2058 | BBB- | 5000000 | 5244104 |
| Maryland Economic Development Corp. - University of Maryland College Park (AG) | 5.00% |  | 7/1/2054 | AA | 5000000 | 4955266 |
| Maryland Economic Development Corp. - University of Maryland College Park (AG) | 5.25% |  | 7/1/2064 | AA | 5000000 | 5005750 |
| Massachusetts Development Finance Agency - PRG Medford Properties Inc | 5.25% |  | 6/1/2065 | A | 2125000 | 2149445 |
| Massachusetts Development Finance Agency - PRG Medford Properties Inc | 5.50% |  | 6/1/2050 | A | 1500000 | 1571321 |
| New Hampshire Business Finance Authority | 4.00% |  | 10/20/2036 | BBB | 10595716 | 9986466 |
| New Hampshire Business Finance Authority | 4.087% | <sup>#(a)</sup> | 1/20/2041 | AA- | 5987174 | 5690955 |
| New Hampshire Business Finance Authority | 4.087% | <sup>#(a)</sup> | 1/20/2041 | BBB | 5089098 | 4584055 |
| New Hampshire Business Finance Authority | 4.25% |  | 7/20/2041 | A2 | 6408212 | 6118410 |
| New Hampshire Business Finance Authority | 4.375% |  | 9/20/2036 | BBB | 5283286 | 5121083 |
| New Hampshire Business Finance Authority | 4.75% | <sup>#(a)</sup> | 6/20/2041 | AA- | 12500000 | 12559344 |
| New Hampshire Business Finance Authority | 5.75% |  | 4/28/2042 | BBB | 4750000 | 4799941 |
| New York City Housing Development Corp. - 8 Spruce NY Owner LLC | 5.25% |  | 12/15/2031 | NR | 1350000 | 1382725 |
| New York State Dormitory Authority - State University of New York Dormitory Facilities Revenue | 3.00% |  | 7/1/2045 | Aa3 | 5037000 | 3704946 |
| Public Finance Authority - CHF-Manoa LLC WI<sup>†</sup> | 5.50% |  | 7/1/2043 | BBB- | 4500000 | 4369369 |
| Public Finance Authority - CHF-Manoa LLC WI<sup>†</sup> | 5.75% |  | 7/1/2053 | BBB- | 12785000 | 12177670 |
| Texas Department of Housing & Community Affairs (GNMA) | 5.125% |  | 7/1/2055 | AA+ | 10000000 | 10029174 |

---

84 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing (continued)** |  |  |  |  |  |  |
| Toledo-Lucas County Port Authority - CHF-Toledo LLC OH | 5.00% |  | 7/1/2034 | BBB- | $1000000 | $986893 |
| Toledo-Lucas County Port Authority - CHF-Toledo LLC OH | 5.00% |  | 7/1/2039 | BBB- | 1500000 | 1417069 |
| Toledo-Lucas County Port Authority - CHF-Toledo LLC OH | 5.00% |  | 7/1/2046 | BBB- | 1000000 | 896702 |
| Washington State Housing Finance Commission | 4.085% | <sup>#(a)</sup> | 3/20/2040 | A3 | 10950564 | 10292444 |
| Washington State Housing Finance Commission - Provident Group - SH II Properties LLC (BAM)<sup>†</sup> | 5.25% |  | 7/1/2055 | AA | 4000000 | 3999675 |
| Washington State Housing Finance Commission - Provident Group-SH I Properties LLC | 5.00% |  | 7/1/2054 | BBB- | 2500000 | 2404135 |
| Washington State Housing Finance Commission - Provident Group-SH I Properties LLC | 5.50% |  | 7/1/2044 | BBB- | 1350000 | 1396459 |
| Washington State Housing Finance Commission - Provident Group-SH I Properties LLC | 5.50% |  | 7/1/2049 | BBB- | 1000000 | 1023939 |
| Washington State Housing Finance Commission - Provident Group-SH I Properties LLC | 5.50% |  | 7/1/2059 | BBB- | 5135000 | 5211370 |
| *Total* |  |  |  |  |  | 180480969 |
| **Lease Obligations 1.30%** |  |  |  |  |  |  |
| Indiana Finance Authority - Marion County Capital Improvement Board | 5.25% |  | 2/1/2032 | AA+ | 5000000 | 5008723 |
| Kentucky Bond Development Corp. | 4.00% |  | 9/1/2048 | A+ | 6645000 | 5727770 |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC AMT | 5.625% |  | 1/1/2052 | A- | 9000000 | 9004301 |
| New Jersey Economic Development Authority - State Capitol Joint Management Commission | 5.00% |  | 6/15/2043 | A2 | 4500000 | 4505465 |
| New Jersey Economic Development Authority - State of New Jersey Department of the Treasury | 5.00% |  | 6/15/2036 | A2 | 1285000 | 1303508 |
| New Jersey Economic Development Authority - State of New Jersey Department of the Treasury | 5.00% |  | 6/15/2047 | A2 | 6050000 | 5995431 |
| New Jersey Transportation Trust Fund Authority | Zero Coupon |  | 12/15/2028 | A2 | 10000000 | 8979614 |

---

*See Notes to Schedule of Investments.* 85

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Lease Obligations (continued)** |  |  |  |  |  |  |
| New Jersey Transportation Trust Fund Authority | Zero Coupon |  | 12/15/2031 | A2 | $1935000 | $1548243 |
| New Jersey Transportation Trust Fund Authority | Zero Coupon |  | 12/15/2037 | A2 | 3390000 | 1997580 |
| New Jersey Transportation Trust Fund Authority | 5.00% |  | 6/15/2030 | A+ | 3000000 | 3047582 |
| New Jersey Transportation Trust Fund Authority | 5.00% |  | 6/15/2031 | A+ | 2400000 | 2436245 |
| Northern Illinois University (BAM) | 5.50% |  | 4/1/2049 | AA | 2500000 | 2577851 |
| Washington Metropolitan Area Transit Authority Dedicated Revenue | 5.25% |  | 7/15/2059 | AA | 6500000 | 6683436 |
| *Total* |  |  |  |  |  | 58815749 |
| **Multi-Family Housing 0.19%** |  |  |  |  |  |  |
| New Hampshire Business Finance Authority | 3.625% |  | 8/20/2039 | A3 | 6951748 | 6368792 |
| New York City Housing Development Corp. NY | 2.40% |  | 11/1/2046 | AA+ | 3800000 | 2451049 |
| *Total* |  |  |  |  |  | 8819841 |
| **Other Revenue 2.39%** |  |  |  |  |  |  |
| California School Finance Authority - Green Dot Public Schools Obligated Group<sup>†</sup> | 5.00% |  | 8/1/2048 | BBB- | 1650000 | 1586312 |
| City of Miami Beach Parking Revenue FL (BAM) | 5.00% |  | 9/1/2040 | AA | 2000000 | 2003645 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 6.125% |  | 8/15/2048 | Baa3 | 9775000 | 9809986 |
| Commonwealth of Puerto Rico GO | Zero Coupon | <sup>#(a)</sup> | 11/1/2051 | NR | 4635942 | 2932233 |
| County of Broward FL Convention Center Hotel Revenue<sup>(c)</sup> | 5.50% |  | 1/1/2055 | AA | 31540000 | 32871599 |
| Grand River Hospital District CO GO (AG) | 5.25% |  | 12/1/2034 | AA | 1000000 | 1038016 |
| Grand River Hospital District CO GO (AG) | 5.25% |  | 12/1/2035 | AA | 1000000 | 1032789 |
| Grand River Hospital District CO GO (AG) | 5.25% |  | 12/1/2037 | AA | 1160000 | 1187659 |
| Main Street Natural Gas, Inc. GA | 5.00% |  | 5/15/2037 | A1 | 2990000 | 3115687 |
| Main Street Natural Gas, Inc. GA | 5.00% |  | 5/15/2043 | A1 | 3250000 | 3255336 |
| Michigan Finance Authority - Bradford Academy | 4.30% |  | 9/1/2030 | NR | 230000 | 215286 |
| Michigan Finance Authority - Bradford Academy | 4.80% |  | 9/1/2040 | NR | 565000 | 463811 |
| Michigan Finance Authority - Bradford Academy | 5.00% |  | 9/1/2050 | NR | 925000 | 707973 |

---

86 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Other Revenue (continued)** |  |  |  |  |  |  |
| M-S-R Energy Authority CA | 6.125% |  | 11/1/2029 | BBB+ | $1650000 | $1740781 |
| New Jersey Economic Development Authority - Friends of TEAM Academy Charter School Obligated Group | 6.00% |  | 10/1/2043 | BBB | 3500000 | 3502508 |
| Public Finance Authority - Inperium Inc Obligated Group WI<sup>†</sup> | 5.75% |  | 12/1/2054 | NR | 4000000 | 3969598 |
| Ridley School District PA (AG), (ST AID WITHHLDG) | 5.00% |  | 11/15/2050 | AA | 5000000 | 4992704 |
| Triborough Bridge & Tunnel Authority - Metropolitan Transportation Authority Payroll Mobility Tax Revenue NY | 5.25% |  | 5/15/2054 | AA+ | 20000000 | 20673864 |
| Washington State Convention Center Public Facilities District | 4.00% |  | 7/1/2031 | NR | 10000000 | 10138830 |
| Washington State Convention Center Public Facilities District | 4.00% |  | 7/1/2048 | Baa1 | 3745000 | 3037358 |
| *Total* |  |  |  |  |  | 108275975 |
| **Pollution Control 0.03%** |  |  |  |  |  |  |
| Finance Authority of Maine - Casella Waste Systems Inc AMT<sup>†</sup> | 4.625% | <sup>#(a)</sup> | 12/1/2047 | B+ | 1200000 | 1169918 |
| **Pre-Refunded 0.02%** |  |  |  |  |  |  |
| School District of Philadelphia PA GO (ST AID WITHHLDG) | 5.00% |  | 9/1/2038 | Aa3 | 995000 | 1011243 |
| **Special Tax 0.95%** |  |  |  |  |  |  |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.25% |  | 5/1/2042 | NR | 3010000 | 2979148 |
| Gramercy Farms Community Development District FL | 6.75% |  | 5/1/2039 | NR | 196000 | 187221 |
| Industrial Development Authority of the City of St. Louis Missouri | 4.75% |  | 11/15/2047 | NR | 3000000 | 2554438 |
| Inland Valley Development Agency CA Tax Allocation | 5.25% |  | 9/1/2037 | A+ | 4875000 | 4913835 |
| New Jersey Economic Development Authority - NJ Metromall Urban Renewal Inc | 6.50% |  | 4/1/2028 | Baa2 | 1303322 | 1348597 |
| River Islands Public Financing Authority CA Special Tax (AG) | 5.25% |  | 9/1/2052 | AA | 2500000 | 2540997 |
| Riverside County Redevelopment Successor Agency CA Tax Allocation | 8.50% |  | 10/1/2041 | A2 | 11195000 | 11980650 |
| State of Connecticut Special Tax Revenue | 5.00% |  | 8/1/2034 | AA | 2380000 | 2381615 |

---

*See Notes to Schedule of Investments.* 87

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Special Tax (continued)** |  |  |  |  |  |
| State of Connecticut Special Tax Revenue | 5.00% | 1/1/2037 | AA | $7000000 | $7205043 |
| State of Connecticut Special Tax Revenue | 5.00% | 1/1/2038 | AA | 4250000 | 4360015 |
| Stone Canyon Community Improvement District MO<sup>(b)</sup> | 5.70% | 4/1/2022 | NR | 1000000 | 210000 |
| Stone Canyon Community Improvement District MO<sup>(b)</sup> | 5.75% | 4/1/2027 | NR | 1300000 | 273000 |
| Wolf Creek Infrastructure Financing District No. 1 Wolf Creek Assessment Area 1 UT | 5.75% | 12/1/2044 | NR | 2100000 | 2072242 |
| *Total* |  |  |  |  | 43006801 |
| **Tax Revenue 6.59%** |  |  |  |  |  |
| Chicago Transit Authority Sales Tax Receipts Fund IL | 4.00% | 12/1/2050 | A+ | 13615000 | 11551453 |
| City of Sparks NV<sup>†</sup> | 2.75% | 6/15/2028 | Baa2 | 205000 | 200227 |
| Compton Community Redevelopment Agency Successor Agency CA Tax Allocation (AG) | 5.00% | 8/1/2042 | AA | 1250000 | 1289859 |
| County of Cook Sales Tax Revenue IL | 4.00% | 11/15/2034 | AA- | 3750000 | 3759119 |
| Downtown Revitalization Public Infrastructure District - City of Salt Lake City UT Revitalization Sales Tax Revenue UT (AG) | 5.50% | 6/1/2050 | AA | 4500000 | 4703879 |
| Downtown Revitalization Public Infrastructure District - City of Salt Lake City UT Revitalization Sales Tax Revenue UT (AG) | 5.50% | 6/1/2055 | AA | 9760000 | 10246414 |
| Downtown Revitalization Public Infrastructure District - City of Salt Lake City UT Revitalization Sales Tax Revenue UT (AG) | 5.50% | 6/1/2055 | AA | 10000000 | 10450325 |
| Lower Colorado River Authority - LCRA Transmission Services Corp TX | 6.00% | 5/15/2052 | A | 1700000 | 1819800 |
| Matching Fund Special Purpose Securitization Corp. - United States Virgin Islands Federal Excise Tax | 5.00% | 10/1/2039 | NR | 3500000 | 3438754 |
| Metropolitan Pier & Exposition Authority - State of Illinois McCormick Place Expansion Project Fund | 4.00% | 12/15/2042 | A | 2000000 | 1792054 |
| Metropolitan Pier & Exposition Authority IL | 4.00% | 6/15/2052 | A | 7210000 | 5869972 |

---

88 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tax Revenue (continued)** |  |  |  |  |  |
| Metropolitan Pier & Exposition Authority IL (NATL) | Zero Coupon | 12/15/2030 | A | $10535000 | $8624268 |
| Metropolitan Pier & Exposition Authority IL (NATL) | Zero Coupon | 6/15/2033 | A | 15000000 | 10938889 |
| Metropolitan Pier & Exposition Authority IL (NATL) | Zero Coupon | 12/15/2036 | A | 10000000 | 6049448 |
| Mida Mountain Village Public Infrastructure District - Military Installation Development Auth Military Recreation Fac Project Area UT Tax Allocation<sup>†</sup> | 5.75% | 6/15/2044 | NR | 850000 | 849309 |
| Mida Mountain Village Public Infrastructure District - Military Installation Development Auth Military Recreation Fac Project Area UT Tax Allocation<sup>†</sup> | 6.00% | 6/15/2054 | NR | 1250000 | 1257447 |
| New York City Transitional Finance Authority - New York City Transitional Finance Authority Future Tax Secured Revenue | 5.25% | 5/1/2049 | AAA | 7810000 | 8122667 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.25% | 5/1/2051 | AAA | 25705000 | 26671750 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.50% | 11/1/2051 | AAA | 4750000 | 5062250 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.50% | 12/1/2059 | A+ | 25000000 | 26265860 |
| New York Convention Center Development Corp. - New York City Hotel Unit Fee Revenue | 5.00% | 11/15/2040 | A2 | 5000000 | 5003198 |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue | 3.00% | 3/15/2042 | Aa1 | 5000000 | 3931838 |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue | 3.00% | 3/15/2049 | Aa1 | 2480000 | 1774386 |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue | 3.00% | 3/15/2050 | AA+ | 8980000 | 6334581 |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue | 5.00% | 3/15/2046 | Aa1 | 10000000 | 10276827 |

---

*See Notes to Schedule of Investments.* 89

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tax Revenue (continued)** |  |  |  |  |  |
| New York State Urban Development Corp. - State of New York Personal Income Tax Revenue | 3.00% | 3/15/2047 | AA+ | $5825000 | $4248014 |
| New York State Urban Development Corp. - State of New York Personal Income Tax Revenue | 3.00% | 3/15/2048 | AA+ | 9590000 | 6923828 |
| New York State Urban Development Corp. - State of New York Personal Income Tax Revenue | 3.00% | 3/15/2049 | AA+ | 6495000 | 4639063 |
| New York State Urban Development Corp. - State of New York Personal Income Tax Revenue | 3.00% | 3/15/2050 | AA+ | 7620000 | 5422248 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon | 7/1/2029 | NR | 1271000 | 1085953 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon | 7/1/2031 | NR | 2122000 | 1658534 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon | 7/1/2033 | NR | 2549000 | 1816121 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon | 7/1/2051 | NR | 2523000 | 589901 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 27628000 | 25951969 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 8253000 | 7752338 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.536% | 7/1/2053 | NR | 39000 | 33930 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.75% | 7/1/2053 | NR | 14097000 | 12979565 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 5.00% | 7/1/2058 | NR | 17980000 | 16929855 |
| San Leandro Unified School District CA GO | 5.25% | 8/1/2048 | AA- | 10500000 | 11030391 |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue NY | 5.25% | 5/15/2052 | AA+ | 10335000 | 10619252 |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue NY | 5.25% | 5/15/2062 | AA+ | 10655000 | 10909161 |
| *Total* |  |  |  |  | 298874697 |
| **Taxable Revenue - Water & Sewer 1.57%** |  |  |  |  |  |
| City of Chicago IL Waterworks Revenue<sup>(c)</sup> | 5.50% | 11/1/2062 | AA | 20300000 | 20896463 |
| County of Miami-Dade Water & Sewer System Revenue FL | 5.25% | 10/1/2054 | AA | 7610000 | 7830155 |

---

90 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Taxable Revenue - Water & Sewer (continued)** |  |  |  |  |  |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 5.00% | 6/15/2046 | AA+ | $11500000 | $11865646 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 5.25% | 6/15/2054 | AA+ | 12500000 | 12979804 |
| Oklahoma City Water Utilities Trust | 5.25% | 7/1/2064 | AAA | 7500000 | 7777517 |
| Pittsburgh Water & Sewer Authority PA (AG) | 5.00% | 9/1/2048 | AA | 3000000 | 3047022 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 4.00% | 7/1/2047 | NR | 2500000 | 2050474 |
| Washington Suburban Sanitary Commission MD | 3.00% | 6/1/2045 | AAA | 6165000 | 4647895 |
| *Total* |  |  |  |  | 71094976 |
| **Tobacco 2.04%** |  |  |  |  |  |
| Buckeye Tobacco Settlement Financing Authority OH | 5.00% | 6/1/2055 | NR | 57825000 | 49367660 |
| Nassau County Tobacco Settlement Corp. NY | Zero Coupon | 6/1/2060 | NR | 20000000 | 1139540 |
| Tobacco Securitization Authority of Northern California - Sacramento County Tobacco Securitization Corp | 4.00% | 6/1/2049 | BBB+ | 2850000 | 2426528 |
| Tobacco Securitization Authority of Southern California - San Diego County Tobacco Asset Securitization Corp | 5.00% | 6/1/2048 | BBB+ | 8900000 | 8686137 |
| Tobacco Settlement Financing Corp. NJ | 5.25% | 6/1/2046 | BBB+ | 4305000 | 4334842 |
| Tobacco Settlement Financing Corp. VA | 5.00% | 6/1/2047 | B- | 10910000 | 9481078 |
| TSASC, Inc. NY | 5.00% | 6/1/2035 | BBB | 1390000 | 1399275 |
| TSASC, Inc. NY | 5.00% | 6/1/2045 | CCC+ | 7500000 | 6610905 |
| TSASC, Inc. NY | 5.00% | 6/1/2048 | NR | 10550000 | 9209235 |
| *Total* |  |  |  |  | 92655200 |
| **Transportation 20.00%** |  |  |  |  |  |
| Alameda Corridor Transportation Authority CA (AG) | 5.00% | 10/1/2034 | AA | 3650000 | 3718265 |
| Bay Area Toll Authority CA | 3.00% | 4/1/2054 | AA- | 5100000 | 3575666 |
| Build NYC Resource Corp. - TRIPS Obligated Group NY AMT | 5.50% | 7/1/2055 | BBB+ | 5425000 | 5495708 |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign CA AMT | 5.25% | 7/1/2049 | A | 3875000 | 3943399 |

---

*See Notes to Schedule of Investments.* 91

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% | 12/31/2038 | BB+ <sup>(d)</sup> | $5000000 | $5027819 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% | 12/31/2043 | BB+ <sup>(d)</sup> | 2500000 | 2443595 |
| Charleston County Airport District SC AMT | 5.25% | 7/1/2049 | A+ | 3500000 | 3561780 |
| Chicago O'Hare International Airport IL (BAM) | 5.25% | 1/1/2041 | AA | 1950000 | 2059997 |
| Chicago O'Hare International Airport IL (BAM) | 5.25% | 1/1/2042 | AA | 1470000 | 1542155 |
| Chicago O'Hare International Airport IL (BAM) | 5.25% | 1/1/2043 | AA | 1660000 | 1733011 |
| Chicago O'Hare International Airport IL AMT | 5.00% | 1/1/2047 | A+ | 9375000 | 9232482 |
| Chicago O'Hare International Airport IL AMT | 5.00% | 1/1/2048 | A+ | 20000000 | 19704576 |
| City of Charlotte Airport Revenue NC | 5.25% | 7/1/2053 | Aa3 | 18650000 | 19382684 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.50% | 7/15/2037 | Ba3 | 4600000 | 4781541 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.50% | 7/15/2038 | Ba3 | 4250000 | 4374889 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.50% | 7/15/2039 | Ba3 | 4700000 | 4810756 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 6.625% | 7/15/2038 | BB | 2500000 | 2505832 |
| City of Los Angeles Department of Airports CA AMT | 3.00% | 5/15/2049 | AA- | 5890000 | 3991237 |
| City of Los Angeles Department of Airports CA AMT | 5.00% | 5/15/2045 | AA | 6410000 | 6415557 |
| City of Los Angeles Department of Airports CA AMT | 5.50% | 5/15/2047 | AA | 6440000 | 6639167 |
| City of Salt Lake City Airport Revenue UT AMT | 5.50% | 7/1/2053 | A+ | 7500000 | 7721780 |
| City of St. Louis Airport Revenue MO (AG) | 5.00% | 7/1/2047 | AA | 7500000 | 7538582 |
| Colorado Bridge & Tunnel Enterprise (AG) | 5.25% | 12/1/2049 | AA | 3825000 | 3961639 |
| Colorado Bridge & Tunnel Enterprise (AG) | 5.25% | 12/1/2054 | AA | 10000000 | 10314672 |
| Colorado Bridge & Tunnel Enterprise (AG) | 5.50% | 12/1/2054 | AA | 4250000 | 4479947 |
| Columbus Regional Airport Authority OH | 5.25% | 1/1/2050 | A | 4125000 | 4275277 |
| Columbus Regional Airport Authority OH | 5.25% | 1/1/2055 | A | 4125000 | 4249365 |
| County of Lee Airport Revenue FL AMT | 5.25% | 10/1/2049 | A2 | 6200000 | 6229247 |
| County of Osceola Transportation Revenue FL | 4.00% | 10/1/2054 | BBB+ | 1775000 | 1494229 |

---

92 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| E-470 Public Highway Authority CO (NATL) | Zero Coupon |  | 9/1/2032 | A+ | $4200000 | $3297368 |
| E-470 Public Highway Authority CO (NATL) | Zero Coupon |  | 9/1/2037 | A+ | 7720000 | 4226113 |
| Foothill-Eastern Transportation Corridor Agency CA | Zero Coupon |  | 1/15/2033 | A | 5000000 | 3816750 |
| Foothill-Eastern Transportation Corridor Agency CA | 3.50% |  | 1/15/2053 | A | 10830000 | 8570493 |
| Foothill-Eastern Transportation Corridor Agency CA | 3.95% |  | 1/15/2053 | A | 5000000 | 4309006 |
| Greater Asheville Regional Airport Authority NC (AG) AMT | 5.25% |  | 7/1/2048 | AA | 1250000 | 1268651 |
| Greenville-Spartanburg Airport District SC | 5.25% |  | 7/1/2054 | A+ | 4160000 | 4277399 |
| Illinois Finance Authority - Centerpoint Joliet Terminal Railroad LLC AMT<sup>†</sup> | 4.125% | <sup>#(a)</sup> | 12/1/2043 | BBB+ | 5000000 | 4852128 |
| Illinois Finance Authority - Centerpoint Joliet Terminal Railroad LLC AMT<sup>†</sup> | 4.125% | <sup>#(a)</sup> | 12/1/2050 | BBB+ | 12630000 | 12239931 |
| Illinois Finance Authority - Centerpoint Joliet Terminal Railroad LLC AMT<sup>†(e)</sup> | 4.80% | <sup>#(a)</sup> | 12/1/2043 | BBB+ | 25500000 | 25836077 |
| Kenton County Airport Board AMT | 5.25% |  | 1/1/2054 | A1 | 10750000 | 10868116 |
| Louisiana Public Facilities Authority - Calcasieu Bridge Partners LLC AMT | 5.75% |  | 9/1/2064 | Baa3 | 20910000 | 21538339 |
| Maryland Economic Development Corp. - City of Baltimore Port Covington Development District Tax Allocation | 4.00% |  | 9/1/2040 | NR | 2000000 | 1785567 |
| Maryland Economic Development Corp. - Purple Line Transit Partners LLC AMT | 5.00% |  | 11/12/2028 | Baa3 | 5000000 | 5050755 |
| Maryland Economic Development Corp. - Purple Line Transit Partners LLC AMT | 5.25% |  | 6/30/2047 | Baa3 | 2500000 | 2487918 |
| Maryland Economic Development Corp. - Purple Line Transit Partners LLC AMT | 5.25% |  | 6/30/2052 | Baa3 | 2760000 | 2700168 |
| Maryland Economic Development Corp. - Purple Line Transit Partners LLC AMT | 5.25% |  | 6/30/2055 | Baa3 | 9000000 | 8826528 |
| Maryland State Transportation Authority | 5.00% |  | 7/1/2051 | Aa2 | 10000000 | 10140551 |
| Metropolitan Nashville Airport Authority TN AMT | 5.50% |  | 7/1/2052 | A1 | 6500000 | 6638603 |
| Metropolitan Transportation Authority NY | 4.00% |  | 11/15/2045 | A2 | 4675000 | 4027778 |
| Metropolitan Transportation Authority NY | 4.00% |  | 11/15/2048 | A2 | 9825000 | 8310480 |

---

<br> *See Notes to Schedule of Investments.* 93

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| Metropolitan Transportation Authority NY | 4.00% |  | 11/15/2049 | A2 | $6605000 | $5558925 |
| Metropolitan Transportation Authority NY<sup>(c)</sup> | 4.75% |  | 11/15/2045 | A2 | 13890000 | 13538192 |
| Metropolitan Transportation Authority NY | 5.00% |  | 11/15/2035 | A2 | 4265000 | 4325728 |
| Metropolitan Transportation Authority NY | 5.00% | <sup>#(a)</sup> | 11/15/2045 | A2 | 2700000 | 2855263 |
| Metropolitan Transportation Authority NY | 5.25% |  | 11/15/2055 | A2 | 10850000 | 10923325 |
| Metropolitan Transportation Authority NY<sup>(c)</sup> | 5.25% |  | 11/15/2055 | A3 | 6610000 | 6654671 |
| Metropolitan Transportation Authority NY | 5.50% |  | 11/15/2047 | A2 | 15750000 | 16483070 |
| New Jersey Transportation Trust Fund Authority | 5.25% |  | 6/15/2050 | A2 | 15155000 | 15604321 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 4.00% |  | 6/15/2046 | A2 | 8000000 | 7130202 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.00% |  | 6/15/2042 | A2 | 8500000 | 8763877 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.25% |  | 6/15/2050 | A2 | 13500000 | 13886105 |
| New Jersey Turnpike Authority | 5.25% |  | 1/1/2054 | AA- | 9000000 | 9319561 |
| New Jersey Turnpike Authority | 5.25% |  | 1/1/2055 | AA- | 15000000 | 15603471 |
| New York City Transitional Development Corp. - JFK NTO LLC NY AMT | 5.375% |  | 6/30/2060 | Baa3 | 21750000 | 21362256 |
| New York City Transitional Development Corp. - JFK NTO LLC NY AMT | 6.00% |  | 6/30/2054 | Baa3 | 20750000 | 21445814 |
| New York State Thruway Authority | 4.00% |  | 1/1/2050 | A1 | 9315000 | 8022007 |
| New York State Thruway Authority - New York State Thruway Authority | 5.25% |  | 1/1/2056 | A1 | 7455000 | 7462068 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 4.00% |  | 1/1/2036 | Baa2 | 7160000 | 6721197 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% |  | 1/1/2029 | Baa2 | 2955000 | 3025348 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% |  | 1/1/2030 | Baa2 | 4440000 | 4537215 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% |  | 1/1/2033 | Baa2 | 12450000 | 12654211 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% |  | 1/1/2036 | Baa2 | 8600000 | 8670578 |

---

<br> 94 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% | 10/1/2040 | Baa2 | $21000000 | $20909717 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.625% | 4/1/2040 | Baa2 | 7000000 | 7198098 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 6.00% | 4/1/2035 | Baa2 | 16530000 | 17990715 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 5.00% | 12/1/2039 | Baa1 | 5840000 | 5900941 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 5.00% | 12/1/2042 | Baa1 | 3270000 | 3220391 |
| New York Transportation Development Corp. - JFK Millennium Partners LLC AMT | 5.50% | 12/31/2060 | BBB- | 77500000 | 77555831 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.50% | 6/30/2060 | Baa3 | 17185000 | 17195785 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 4.00% | 7/1/2041 | Baa2 | 12365000 | 10951452 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 4.00% | 7/1/2046 | Baa2 | 2440000 | 2035159 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 5.25% | 1/1/2050 | Baa2 | 19245000 | 18987469 |
| New York Transportation Development Corp. - Laguardia Gateway Partners LLC (AG) AMT | 4.00% | 1/1/2051 | AA | 4740000 | 3925112 |
| Northern Indiana Commuter Transportation District IN | 5.00% | 1/1/2054 | A+ | 4750000 | 4777656 |
| Northern Indiana Commuter Transportation District IN | 5.25% | 1/1/2049 | A+ | 4150000 | 4314710 |
| Oklahoma Turnpike Authority | 5.50% | 1/1/2053 | AA- | 7500000 | 7824248 |
| Oklahoma Turnpike Authority<sup>(c)</sup> | 5.50% | 10/1/2054 | Aa3 | 12500000 | 13269868 |
| Pennsylvania Economic Development Financing Authority - Commonwealth of Pennsylvania Motor License Fund AMT (AG) | 5.75% | 12/31/2062 | AA | 8100000 | 8409330 |
| Pennsylvania Turnpike Commission | 4.00% | 12/1/2038 | A2 | 3425000 | 3343174 |
| Pennsylvania Turnpike Commission | 5.00% | 6/1/2029 | A2 | 9000000 | 9070175 |
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue | 4.00% | 12/1/2053 | A2 | 5000000 | 4247331 |
| Port Authority of New York & New Jersey AMT | 5.00% | 7/15/2035 | AA- | 6250000 | 6663418 |

---

<br> *See Notes to Schedule of Investments.* 95

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 7/15/2036 | AA- | $4000000 | $4220667 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 7/15/2037 | AA- | 3250000 | 3394363 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 7/15/2038 | AA- | 5000000 | 5195255 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 12/1/2053 | AA- | 7100000 | 7101547 |
| Port Authority of New York & New Jersey AMT | 5.50% |  | 8/1/2052 | AA- | 3940000 | 4057390 |
| Port of Portland Airport Revenue OR AMT | 5.50% |  | 7/1/2048 | AA- | 6250000 | 6474306 |
| Reno-Tahoe Airport Authority NV AMT | 5.25% |  | 7/1/2049 | A | 2100000 | 2137068 |
| San Diego County Regional Airport Authority CA | 5.00% |  | 7/1/2051 | A1 | 15475000 | 15668318 |
| San Diego County Regional Airport Authority CA AMT | 5.00% |  | 7/1/2053 | Aa3 | 5330000 | 5293315 |
| San Diego County Regional Airport Authority CA AMT<sup>(e)</sup> | 5.50% |  | 7/1/2055 | Aa3 | 16000000 | 16801637 |
| San Francisco City & County Airport Comm-San Francisco International Airport CA AMT | 5.25% |  | 5/1/2049 | A1 | 9400000 | 9495919 |
| San Joaquin Hills Transportation Corridor Agency CA | 5.25% |  | 1/15/2049 | A- | 510000 | 510071 |
| State of Michigan Trunk Line Revenue | 5.50% |  | 11/15/2049 | AA+ | 15000000 | 15882142 |
| Texas Private Activity Bond Surface Transportation Corp. - NTE Mobility Partners LLC AMT | 5.50% |  | 12/31/2058 | Baa1 | 5000000 | 5129569 |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue NY | 5.25% |  | 5/15/2058 | AA+ | 7300000 | 7527231 |
| Virginia Small Business Financing Authority - 95 Express Lanes LLC AMT | 5.00% |  | 1/1/2037 | BBB | 5455000 | 5594465 |
| *Total* |  |  |  |  |  | 907094821 |
| **Utilities 13.38%** |  |  |  |  |  |  |
| Adelanto Public Utility Authority CA (AG) | 5.00% |  | 7/1/2039 | AA | 1500000 | 1533655 |
| Black Belt Energy Gas District AL | 4.00% | <sup>#(a)</sup> | 10/1/2052 | A2 | 11660000 | 11691003 |
| Black Belt Energy Gas District AL | 5.00% | <sup>#(a)</sup> | 5/1/2055 | Aa3 | 5000000 | 5239880 |
| Black Belt Energy Gas District AL | 5.25% | <sup>#(a)</sup> | 5/1/2055 | A1 | 3750000 | 3901744 |
| Black Belt Energy Gas District AL | 5.50% | <sup>#(a)</sup> | 6/1/2049 | A2 | 9450000 | 9970742 |
| Black Belt Energy Gas District AL | 5.50% | <sup>#(a)</sup> | 11/1/2053 | A2 | 6665000 | 7005726 |

---

<br> 96 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 1/1/2055 | A1 | $28710000 | $29678512 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 1/1/2056 | A1 | 2740000 | 2830086 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 3/1/2056 | Aa3 | 16875000 | 17931949 |
| California Community Choice Financing Authority<sup>(c)</sup> | 5.25% |  | 11/1/2054 | A2 | 14000000 | 14823668 |
| California Pollution Control Financing Authority - Poseidon Resources Channelside LP<sup>†</sup> | 5.00% |  | 7/1/2039 | Baa3 | 2200000 | 2222906 |
| Casitas Municipal Water District CA Special Tax (BAM) | 5.25% |  | 9/1/2047 | AA | 500000 | 506994 |
| Central Plains Energy Project NE | 5.00% |  | 9/1/2042 | BBB+ | 3305000 | 3396163 |
| City of Baltimore MD | 5.00% |  | 7/1/2039 | A1 | 4750000 | 4751868 |
| City of Baltimore MD<sup>(c)</sup> | 5.25% |  | 7/1/2047 | AA- | 7190000 | 7479412 |
| City of Baltimore MD<sup>(c)</sup> | 5.25% |  | 7/1/2052 | AA- | 12190000 | 12680672 |
| City of Chicago Waterworks Revenue IL (AG) | 5.00% |  | 11/1/2036 | AA | 3000000 | 3067552 |
| City of Chicago Waterworks Revenue IL (AG) | 5.00% |  | 11/1/2037 | AA | 2500000 | 2541467 |
| City of Compton Water Revenue CA | 6.00% |  | 8/1/2039 | NR | 5500000 | 5611317 |
| City of Fort Lauderdale Water & Sewer Revenue FL | 5.50% |  | 9/1/2053 | AA+ | 5000000 | 5290352 |
| City of Philadelphia Water & Wastewater Revenue PA | 5.25% |  | 10/1/2052 | A+ | 6610000 | 6614406 |
| City of San Antonio Electric & Gas Systems Revenue TX | 5.50% |  | 2/1/2049 | Aa2 | 2000000 | 2128665 |
| City of San Antonio Electric & Gas Systems Revenue TX | 5.50% |  | 2/1/2050 | Aa2 | 10880000 | 11505283 |
| City of San Francisco Public Utilities Commission Water Revenue CA | 5.25% |  | 11/1/2052 | Aa2 | 7000000 | 7295058 |
| County of Jefferson Sewer Revenue AL | 5.25% |  | 10/1/2049 | BBB+ | 20345000 | 20587427 |
| County of Jefferson Sewer Revenue AL | 5.50% |  | 10/1/2053 | BBB+ | 20850000 | 21390807 |
| County of Manatee Public Utilities Revenue - County of Manatee FL Public Utilities Revenue FL | 4.00% |  | 10/1/2053 | Aa1 | 5820000 | 4994073 |
| Energy Southeast A Cooperative District AL | 5.25% | <sup>#(a)</sup> | 7/1/2054 | A1 | 22500000 | 24082526 |
| Energy Southeast A Cooperative District AL | 5.75% | <sup>#(a)</sup> | 4/1/2054 | A1 | 10710000 | 11701651 |

---

<br> *See Notes to Schedule of Investments.* 97

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |
| Florida Development Finance Corp. - Waste Pro USA Inc AMT<sup>†</sup> | 5.25% |  | 8/1/2029 | NR | $1500000 | $1545900 |
| Great Lakes Water Authority Sewage Disposal System Revenue MI | 5.50% |  | 7/1/2052 | A+ | 12000000 | 12448592 |
| JEA Water & Sewer System Revenue FL | 5.50% |  | 10/1/2054 | AA+ | 5000000 | 5270758 |
| Kentucky Municipal Power Agency (NATL) | 5.00% |  | 9/1/2035 | Baa1 | 5000000 | 5060734 |
| Kentucky Municipal Power Agency (NATL) | 5.00% |  | 9/1/2036 | Baa1 | 5000000 | 5056743 |
| Kentucky Public Energy Authority | 4.00% | <sup>#(a)</sup> | 8/1/2052 | A1 | 15500000 | 15440675 |
| Kentucky Public Energy Authority | 5.25% | <sup>#(a)</sup> | 4/1/2054 | A1 | 26455000 | 28279638 |
| Los Angeles Department of Water & Power System Revenue CA (BAM) | 5.00% |  | 7/1/2053 | AA | 4500000 | 4559048 |
| Lower Colorado River Authority - LCRA Transmission Services Corp TX (AG) | 5.25% |  | 5/15/2054 | AA | 9000000 | 9197769 |
| Main Street Natural Gas, Inc. GA<sup>†</sup> | 4.00% | <sup>#(a)</sup> | 8/1/2052 | BBB- | 20850000 | 20792318 |
| Metropolitan Government of Nashville & Davidson County Water & Sewer Revenue TN | 5.25% |  | 7/1/2055 | AA | 11000000 | 11415188 |
| Michigan Finance Authority - Great Lakes Water Authority Sewage Disposal System Revenue | 5.00% |  | 7/1/2034 | A+ | 1980000 | 1982944 |
| Municipal Electric Authority of Georgia | 5.25% |  | 1/1/2049 | A2 | 3475000 | 3616557 |
| Municipal Electric Authority of Georgia (AG) | 5.00% |  | 7/1/2048 | AA | 1100000 | 1103327 |
| Municipal Electric Authority of Georgia (AG) | 5.00% |  | 7/1/2048 | AA | 1750000 | 1755293 |
| Municipal Electric Authority of Georgia (BAM) | 5.25% |  | 1/1/2054 | AA | 5000000 | 5187636 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 3.50% |  | 6/15/2048 | AA+ | 5000000 | 3948520 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 5.25% |  | 6/15/2047 | AA+ | 4500000 | 4676036 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 5.25% |  | 6/15/2053 | AA+ | 9910000 | 10240602 |
| Omaha Public Power District Nebraska City Station Unit 2 | 5.25% |  | 2/1/2042 | A+ | 4000000 | 4002586 |
| Paducah Electric Plant Board KY (AG) | 5.00% |  | 10/1/2035 | AA | 1000000 | 1018019 |
| Patriots Energy Group Financing Agency SC | 5.25% | <sup>#(a)</sup> | 10/1/2054 | A1 | 15000000 | 15862762 |

---

<br> 98 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |  |
| Philadelphia Gas Works Co. - Philadelphia Gas Works Co |  | 5.25% |  | 8/1/2049 | A | $13000000 | $13333509 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> |  | 4.00% |  | 7/1/2042 | NR | 5000000 | 4347366 |
| Salt Verde Financial Corp. AZ |  | 5.25% |  | 12/1/2027 | A3 | 3750000 | 3889746 |
| South Carolina Public Service Authority |  | 5.00% |  | 12/1/2046 | A- | 5035000 | 5085166 |
| South Carolina Public Service Authority |  | 5.25% |  | 12/1/2049 | A- | 5945000 | 6089379 |
| South Carolina Public Service Authority |  | 5.25% |  | 12/1/2054 | A- | 3000000 | 3051330 |
| South Carolina Public Service Authority |  | 5.50% |  | 12/1/2054 | A- | 6780000 | 7104910 |
| Southeast Alabama Gas Supply District AL |  | 5.00% | <sup>#(a)</sup> | 6/1/2049 | A1 | 10000000 | 10548306 |
| Southeast Energy Authority A Cooperative District AL |  | 5.00% |  | 11/1/2035 | Baa1 | 23000000 | 23783552 |
| Southeast Energy Authority A Cooperative District AL |  | 5.00% | <sup>#(a)</sup> | 10/1/2055 | Aa3 | 9200000 | 9701364 |
| Southeast Energy Authority A Cooperative District AL |  | 5.00% |  | 1/1/2056 | A1 | 10100000 | 10313341 |
| Southeast Energy Authority A Cooperative District AL<sup>(c)</sup> |  | 5.00% |  | 1/1/2056 | A1 | 20000000 | 20422458 |
| Southeast Energy Authority A Cooperative District AL |  | 5.25% | <sup>#(a)</sup> | 3/1/2055 | A1 | 17500000 | 18293494 |
| Southeast Energy Authority A Cooperative District AL |  | 5.25% | <sup>#(a)</sup> | 11/1/2055 | A1 | 5000000 | 5379115 |
| Southeast Energy Authority A Cooperative District AL |  | 5.50% | <sup>#(a)</sup> | 1/1/2053 | A1 | 5000000 | 5337453 |
| Southern California Public Power Authority | 4.51%<br>(3 mo. USD Term SOFR \* 0.67 + 1.47% | 4.51%<br>(3 mo. USD Term SOFR \* 0.67 + 1.47% |)<sup>#</sup> | 11/1/2038 | A2 | 3090000 | 2973965 |
| Tennergy Corp. TN |  | 5.50% | <sup>#(a)</sup> | 10/1/2053 | Baa1 | 6000000 | 6300206 |
| Tennessee Energy Acquisition Corp. |  | 5.625% |  | 9/1/2026 | BBB <sup>(d)</sup> | 10550000 | 10740286 |
| Texas Municipal Gas Acquisition & Supply Corp. IV | Texas Municipal Gas Acquisition & Supply Corp. IV | 5.50% | <sup>#(a)</sup> | 1/1/2054 | A1 | 5000000 | 5487941 |
| *Total* |  |  |  |  |  |  | 607100096 |
| *Total Municipal Bonds* (cost $4,762,997,739) | *Total Municipal Bonds* (cost $4,762,997,739) | *Total Municipal Bonds* (cost $4,762,997,739) | *Total Municipal Bonds* (cost $4,762,997,739) |  |  |  | 4639370115 |

---

<br> *See Notes to Schedule of Investments.* 99

**Schedule of Investments (unaudited)(continued)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest**<br> **Rate**<sup>#</sup> | **Interest**<br> **Rate**<br> **Reset**<br> **Date**<sup>(f)</sup> | **Final<br> Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **SHORT-TERM INVESTMENTS 2.29%** |  |  |  |  |  |  |
| **Variable Rate Demand Notes 2.29%** |  |  |  |  |  |  |
| **Education 0.38%** |  |  |  |  |  |  |
| University of California | 2.350% | 7/1/2025 | 5/15/2048 | AA | $17000000 | $17000000 |
| **General Obligation 1.35%** |  |  |  |  |  |  |
| City of New York NY GO | 3.900% | 7/1/2025 | 4/1/2042 | AA | 18510000 | 18510000 |
| City of New York NY GO | 3.900% | 7/1/2025 | 4/1/2042 | AA | 17525000 | 17525000 |
| City of New York NY GO | 3.900% | 7/1/2025 | 10/1/2046 | AA | 24000000 | 24000000 |
| City of New York NY GO | 3.900% | 7/1/2025 | 10/1/2046 | AA | 1000000 | 1000000 |
| *Total* |  |  |  |  |  | 61035000 |
| **Transportation 0.15%** |  |  |  |  |  |  |
| Bay Area Toll Authority CA | 2.950% | 7/1/2025 | 4/1/2055 | AA+ | 7000000 | 7000000 |
| **Utilities 0.41%** |  |  |  |  |  |  |
| Development Authority of Appling County - Georgia Power Co | 4.050% | 7/1/2025 | 9/1/2041 | A | 8700000 | 8700000 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 3.900% | 7/1/2025 | 6/15/2033 | AA+ | 1770000 | 1770000 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 4.000% | 7/1/2025 | 6/15/2050 | AA+ | 8305000 | 8305000 |
| *Total* |  |  |  |  |  | 18775000 |
| *Total Short-Term Investments* (cost $103,810,000) |  |  |  |  |  | 103810000 |
| *Total Investments in Securities 104.57%* (cost $4,866,807,739) | *Total Investments in Securities 104.57%* (cost $4,866,807,739) | *Total Investments in Securities 104.57%* (cost $4,866,807,739) | *Total Investments in Securities 104.57%* (cost $4,866,807,739) |  |  | 4743180115 |
| *Other Assets and Liabilities – Net*<sup>(g)</sup> *(4.57)%* | *Other Assets and Liabilities – Net*<sup>(g)</sup> *(4.57)%* |  |  |  |  | (207206120) |
| *Net Assets 100.00%* |  |  |  |  |  | $4535973995 |

---

---

| | |
|:---|:---|
| AG | Insured by - Assured Guaranty, inc. |
| AMT | Income from the security may be subject to Alternative Minimum Tax. |
| BAM | Insured by - Build America Mutual. |
| FHLMC | Insured by - Federal Home Loan Mortgage Corporation. |
| FNMA | Federal National Mortgage Association. |
| GNMA | Government National Mortgage Association. |
| GTD | Guaranteed. |
| NATL | Insured by - National Public Finance Guarantee Corporation. |
| NR | Not Rated. |
| PSF | Permanent School Fund. |
| SIFMA | Insured by - Securities Industry and Financial Markets Association. |
| SOFR | Secured Overnight Financing Rate. |
| TCRS | Transferable Custodial Receipts. |
| TRIPS | Tax Refund Intercept Programs. |

---

<br> 100 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(concluded)**

NATIONAL TAX FREE FUND *June 30, 2025*

---

| | |
|:---|:---|
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At June 30, 2025, the total value of Rule 144A securities was $327,809,512, which represents 7.23% of net assets. |
| <sup>#</sup> | Variable rate security. The interest rate represents the rate in effect at June 30, 2025. |
| <sup>(a)</sup> | Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date. |
| <sup>(b)</sup> | Defaulted (non-income producing security). |
| <sup>(c)</sup> | Municipal Bonds Held in Trust – Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund acquired the residual interest certificates. These securities serve as collateral in a financing transaction. See Note to Financial Statements for details of Municipal Bonds Held in Trust. |
| <sup>(d)</sup> | This investment has been rated by Fitch IBCA. |
| <sup>(e)</sup> | Securities purchased on a when-issued basis. |
| <sup>(f)</sup> | The interest rate reset date shown represents the date in which the Fund has the right to sell a Variable Rate Demand Note ("VRDN") back to the issuer for Principal Amount. The interest rate on the VRDN is generally reset daily based on the SIFMA Municipal Swap Index. |
| <sup>(g)</sup> | Other Assets and Liabilities – Net include net unrealized appreciation/(depreciation) on futures contracts as follows: |

---

**Futures Contracts at June 30, 2025:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Expiration** | **Contracts** | **Position** | **Notional**<br> **Amount** | **Notional**<br> **Value** | **Unrealized**<br> **Depreciation** |
| U.S. Long Bond | September 2025 | 516 | Short | $(57536263) | $(59581875) | $(2045612) |

---

The following is a summary of the inputs used as of June 30, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Municipal Bonds<sup>(3)</sup> | $– | $4639370115 | $– | $4639370115 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Variable Rate Demand Notes | – | 103810000 | – | 103810000 |
| Total | $– | $4743180115 | $– | $4743180115 |
| **Other Financial Instruments** |  |  |  |  |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Assets | $– | $– | $– | $– |
| &nbsp;&nbsp;&nbsp;Liabilities | (2045612) | – | – | (2045612) |
| Total | $(2045612) | $– | $– | $(2045612) |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

<sup>(3)</sup> Includes Municipal Bonds held in the Trust.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund's net assets at the beginning or end of the period.

*See Notes to Schedule of Investments.* 101

**Schedule of Investments (unaudited)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 101.42%** |  |  |  |  |  |  |
| **CORPORATE BONDS 0.05%** |  |  |  |  |  |  |
| **Health Care Services 0.05%** |  |  |  |  |  |  |
| Care New England Health System<br> (cost $1,947,542) | 5.50% |  | 9/1/2026 | BB- | $2000000 | $1975000 |
| **MUNICIPAL BONDS 101.37%** |  |  |  |  |  |  |
| **Corporate-Backed 17.86%** |  |  |  |  |  |  |
| Arkansas Development Finance Authority - Big River Steel LLC AMT<sup>†</sup> | 4.50% |  | 9/1/2049 | Ba2 | 28635000 | 27578274 |
| Arkansas Development Finance Authority - Hybar LLC AMT<sup>†</sup> | 6.875% |  | 7/1/2048 | NR | 10250000 | 11007470 |
| Arkansas Development Finance Authority - Hybar LLC AMT<sup>†</sup> | 7.375% |  | 7/1/2048 | NR | 16800000 | 18221152 |
| Arkansas Development Finance Authority - United States Steel Corp AMT | 5.45% |  | 9/1/2052 | BB- | 13000000 | 13030433 |
| Arkansas Development Finance Authority - US Steel Corp AMT | 5.70% |  | 5/1/2053 | BB- | 17250000 | 17492437 |
| Avenir Community Development District FL | 5.375% |  | 5/1/2043 | NR | 3230000 | 3203543 |
| Avenir Community Development District FL | 5.625% |  | 5/1/2054 | NR | 3830000 | 3823141 |
| Baldwin County Industrial Development Authority - Novelis Corp AL AMT<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 6/1/2055 | BB | 17000000 | 17153075 |
| Boggy Creek Improvement District FL | 5.125% |  | 5/1/2043 | NR | 1775000 | 1760198 |
| Boggy Creek Improvement District FL | 5.375% |  | 5/1/2053 | NR | 4300000 | 4203085 |
| Cabot Citrus Farms Community Development District FL | 5.25% |  | 3/1/2029 | NR | 3800000 | 3833251 |
| California Infrastructure & Economic Development Bank - Desertxpress Enterprises LLC AMT<sup>†</sup> | 9.50% | <sup>#(a)</sup> | 1/1/2065 | NR | 39000000 | 36979913 |
| City of Henderson - Pratt Paper LLC KY AMT<sup>†</sup> | 4.70% |  | 1/1/2052 | NR | 5500000 | 5014159 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 4.00% |  | 7/15/2041 | BB <sup>(b)</sup> | 4475000 | 3887445 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.00% |  | 7/15/2028 | BB | 5000000 | 5027507 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.00% |  | 7/1/2029 | BB | 15040000 | 15040791 |
| City of Valparaiso - Pratt Paper LLC AMT IN<sup>†</sup> | 4.875% |  | 1/1/2044 | NR | 2000000 | 1925478 |

---

102 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| City of Valparaiso - Pratt Paper LLC AMT IN<sup>†</sup> | 5.00% |  | 1/1/2054 | NR | $7775000 | $7311567 |
| Crosswinds East Community Development District FL | 5.50% |  | 5/1/2044 | NR | 1000000 | 986424 |
| Crosswinds East Community Development District FL | 5.75% |  | 5/1/2054 | NR | 1500000 | 1467429 |
| Downtown Doral South Community Development District FL<sup>†</sup> | 4.75% |  | 12/15/2038 | NR | 625000 | 614122 |
| Florida Development Finance Corp. - Waste pro USA Inc AMT<sup>†</sup> | 6.125% | <sup>#(a)</sup> | 7/1/2032 | NR | 9000000 | 9109820 |
| Gas Worx Community Development District - Gas Worx Community Development District Series 2025 Special Assessments FL<sup>†</sup> | 5.75% |  | 5/1/2045 | NR | 1000000 | 993038 |
| Gas Worx Community Development District - Gas Worx Community Development District Series 2025 Special Assessments FL<sup>†</sup> | 6.00% |  | 5/1/2057 | NR | 2250000 | 2224517 |
| Grapevine Wash Local District - Grapevine Wash Local District Assessment Area No 1 UT<sup>†</sup> | 5.25% |  | 12/1/2044 | NR | 8000000 | 7504724 |
| Greater Orlando Aviation Authority - JetBlue Airways Corp FL | 5.00% |  | 11/15/2036 | NR | 5570000 | 5570132 |
| Hobe-St Lucie Conservancy District Unit of Development No 1A | 5.60% |  | 5/1/2044 | NR | 1840000 | 1841492 |
| Hobe-St Lucie Conservancy District Unit of Development No 1A FL | 5.875% |  | 5/1/2055 | NR | 5500000 | 5466253 |
| Hoover Industrial Development Board - United States Steel Corp AL AMT | 5.75% |  | 10/1/2049 | BB- | 17770000 | 17927762 |
| Illinois Finance Authority - LRS Holdings LLC AMT<sup>†</sup> | 7.375% | <sup>#(a)</sup> | 9/1/2042 | NR | 10000000 | 11042940 |
| Indiana Finance Authority - United States Steel Corp AMT | 6.75% |  | 5/1/2039 | BB- | 3500000 | 3881007 |
| Industrial Development Board of The City of Kingsport Tennessee - Domtar Paper Co LLC TN AMT<sup>†</sup> | 5.25% | <sup>#(a)</sup> | 12/1/2054 | B1 | 8000000 | 7964414 |
| Iowa Finance Authority - Howmet Aerospace Inc | 4.75% |  | 8/1/2042 | Baa1 | 24780000 | 23879700 |
| Jefferson County Port Authority - JSW Steel USA Ohio Inc OH<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 12/1/2053 | Ba1 | 12500000 | 12523946 |
| Jefferson County Port Authority - JSW Steel USA Ohio Inc OH AMT<sup>†</sup> | 3.50% |  | 12/1/2051 | Ba1 | 9450000 | 6838573 |

---

*See Notes to Schedule of Investments.* 103

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Louisiana Public Facilities Authority - Waste Pro USA Inc AMT<sup>†</sup> | 6.75% | <sup>#(a)</sup> | 10/1/2053 | NR | $2000000 | $2111984 |
| Louisiana Public Facilities Authority - Waste Pro USA Inc LA AMT<sup>†</sup> | 6.50% | <sup>#(a)</sup> | 10/1/2053 | NR | 3745000 | 3928744 |
| Maricopa County Industrial Development Authority - Commercial Metals Co AZ AMT<sup>†</sup> | 4.00% |  | 10/15/2047 | BB+ | 8080000 | 6720414 |
| Maryland Economic Development Corp.<sup>(c)</sup> | 5.00% |  | 12/1/2016 | NR | 3430000 | 2298100 |
| Miami-Dade County Industrial Development Authority - CFC MB I LLC FL<sup>†</sup> | 6.25% |  | 1/1/2059 | NR | 8000000 | 7867554 |
| Mission Economic Development Corp. - Natgasoline LLC TX AMT<sup>†</sup> | 4.625% |  | 10/1/2031 | BB- | 12915000 | 12935685 |
| Mobile County Industrial Development Authority - AM/NS Calvert LLC AL AMT | 4.75% |  | 12/1/2054 | BBB | 15810000 | 14578698 |
| Mobile County Industrial Development Authority - AM/NS Calvert LLC AL AMT | 5.00% |  | 6/1/2054 | BBB | 19065000 | 18309580 |
| New Hampshire Business Finance Authority - Covanta Holding Corp AMT<sup>†</sup> | 4.875% |  | 11/1/2042 | B | 17000000 | 15656505 |
| New Jersey Economic Development Authority - United Airlines Inc | 5.25% |  | 9/15/2029 | BB | 14760000 | 14765159 |
| New Jersey Economic Development Authority - United Airlines Inc | 5.50% |  | 6/1/2033 | BB | 6960000 | 6963808 |
| New York City Industrial Development Agency - Queens Ballpark Co LLC NY (AG) | 3.00% |  | 1/1/2046 | AA | 5335000 | 3848259 |
| New York City Industrial Development Agency - TRIPS Obligated Group NY | 5.00% |  | 7/1/2028 | BBB+ | 3400000 | 3400337 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 5.00% |  | 11/15/2044 | NR | 11700000 | 11454900 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 5.15% |  | 11/15/2034 | NR | 5100000 | 5100361 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 5.375% |  | 11/15/2040 | NR | 5000000 | 4999841 |
| New York Liberty Development Corp. - 7 World Trade Center II LLC | 3.125% |  | 9/15/2050 | Aaa | 2500000 | 1795819 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.00% |  | 8/1/2026 | B+ | 1330000 | 1330033 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.00% |  | 8/1/2031 | B+ | 21495000 | 21495260 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.25% |  | 8/1/2031 | B+ | 7185000 | 7348153 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.375% |  | 8/1/2036 | B+ | 9165000 | 9350132 |

---

104 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% |  | 10/1/2035 | Baa2 | $10500000 | $10678391 |
| Niagara Area Development Corp. - Reworld Holding Corp NY AMT<sup>†</sup> | 4.75% |  | 11/1/2042 | B | 13000000 | 11793772 |
| Normandy Community Development District Assessment Area One FL<sup>†</sup> | 5.30% |  | 5/1/2044 | NR | 1500000 | 1410201 |
| Normandy Community Development District Assessment Area One FL<sup>†</sup> | 5.55% |  | 5/1/2054 | NR | 2500000 | 2299332 |
| Ohio Air Quality Development Authority - AMG Vanadium LLC AMT<sup>†</sup> | 5.00% |  | 7/1/2049 | B3 | 33290000 | 29531805 |
| Parish of Beauregard - OfficeMax Inc LA | 6.80% |  | 2/1/2027 | NR | 5000000 | 5010704 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.10% | <sup>#(a)</sup> | 6/1/2038 | BB+ | 6375000 | 6794210 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.10% | <sup>#(a)</sup> | 12/1/2040 | BB+ | 2750000 | 2930608 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.35% |  | 7/1/2040 | BB+ | 5000000 | 5370653 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.35% |  | 10/1/2040 | BB+ | 7690000 | 8258712 |
| Peninsula Town Center Community Development Authority VA<sup>†</sup> | 4.50% |  | 9/1/2045 | NR | 1375000 | 1216668 |
| Pennsylvania Economic Development Financing Authority - New NGC Inc AMT | 5.50% |  | 11/1/2044 | NR | 1000000 | 1000663 |
| Polk County Industrial Development Authority - Mineral Development LLC FL<sup>†(c)</sup> | 5.875% |  | 1/1/2033 | NR | 7020000 | 4071600 |
| Port of Beaumont Navigation District - Jefferson 2020 Bond Lessee & Borrower LLC Obligated Group TX AMT<sup>†</sup> | 5.125% |  | 1/1/2044 | NR | 1500000 | 1402055 |
| Port of Beaumont Navigation District - Jefferson 2020 Bond Lessee & Borrower LLC Obligated Group TX AMT<sup>†</sup> | 5.25% |  | 1/1/2054 | NR | 19750000 | 18134638 |
| Prairie Center Metropolitan District No. 3 CO GO | 5.875% |  | 12/15/2046 | NR | 3125000 | 3220747 |
| Public Finance Authority - Sky Harbour Capital LLC Obligated Group WI AMT | 4.25% |  | 7/1/2054 | NR | 25545000 | 20231553 |
| Public Finance Authority - TRIPS Obligated Group WI AMT | 5.00% |  | 7/1/2042 | BBB+ | 11000000 | 10885277 |
| Public Finance Authority WI<sup>†</sup> | 5.375% |  | 12/15/2032 | NR | 3365000 | 3364932 |
| Southwestern Illinois Development Authority - United States Street Corp | 5.75% |  | 8/1/2042 | BB- | 2500000 | 2500309 |

---

*See Notes to Schedule of Investments.* 105

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Spring Valley Community Infrastructure District No. 1 ID<sup>†</sup> | 6.25% |  | 9/1/2053 | NR | $7000000 | $7022535 |
| State of Nevada Department of Business & Industry - Desertxpress Enterprises LLC AMT<sup>†</sup> | 9.50% | <sup>#(a)</sup> | 1/1/2065 | NR | 13750000 | 13028125 |
| Town of Rumford - OfficeMax Inc ME | 6.875% |  | 10/1/2026 | NR | 1500000 | 1503224 |
| Tulsa Airports Improvement Trust - American Airlines Inc OK AMT | 5.50% |  | 12/1/2035 | NR | 2700000 | 2700061 |
| Tulsa Municipal Airport Trust Trustees - American Airlines Inc OK AMT | 6.25% |  | 12/1/2035 | B+ | 8175000 | 9037686 |
| Tulsa Municipal Airport Trust Trustees - American Airlines Inc OK AMT | 6.25% |  | 12/1/2040 | B+ | 3900000 | 4235762 |
| Tuscaloosa County Industrial Development Authority - Hunt Refining Co AL<sup>†</sup> | 5.25% |  | 5/1/2044 | NR | 22035000 | 21807308 |
| Village Community Development District No 15 Series 2024 Special Assessment FL<sup>†</sup> | 4.80% |  | 5/1/2055 | NR | 4250000 | 3874768 |
| Virginia Small Business Financing Authority - Covanta Holding Corp AMT<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 1/1/2048 | B | 3150000 | 3016537 |
| West Pace Cooperative District AL<sup>(c)</sup> | 9.125% |  | 5/1/2039 | NR | 13770000 | 6885000 |
| West Virginia Economic Development Authority - Core Natural Resources Inc AMT<sup>†</sup> | 5.45% | <sup>#(a)</sup> | 1/1/2055 | NR | 5300000 | 5409535 |
| *Total* |  |  |  |  |  | 721215909 |
| **Education 10.19%** |  |  |  |  |  |  |
| Arizona Industrial Development Authority - Academies of Math & Science Obligated Group<sup>†</sup> | 5.625% |  | 7/1/2048 | BB+ | 2235000 | 2210478 |
| Arizona Industrial Development Authority - Academies of Math & Science Obligated Group<sup>†</sup> | 5.75% |  | 7/1/2053 | BB+ | 3000000 | 2944259 |
| Arlington Higher Education Finance Corp. - BASIS Texas Charter Schools Inc TX<sup>†</sup> | 4.75% |  | 6/15/2049 | Ba2 | 915000 | 820504 |
| Arlington Higher Education Finance Corp. - BASIS Texas Charter Schools Inc TX<sup>†</sup> | 4.875% |  | 6/15/2054 | Ba2 | 1100000 | 985085 |
| Arlington Higher Education Finance Corp. - BASIS Texas Charter Schools Inc TX<sup>†</sup> | 4.875% |  | 6/15/2059 | Ba2 | 1000000 | 882101 |
| Arlington Higher Education Finance Corp. - BASIS Texas Charter Schools Inc TX<sup>†</sup> | 5.00% |  | 6/15/2064 | Ba2 | 1400000 | 1247250 |

---

106 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| Build NYC Resource Corp. - East Harlem Scholars Academy Charter School Obligated Group NY<sup>†</sup> | 5.75% | 6/1/2052 | BB | $1250000 | $1211321 |
| Build NYC Resource Corp. - East Harlem Scholars Academy Charter School Obligated Group NY<sup>†</sup> | 5.75% | 6/1/2062 | BB | 3750000 | 3563188 |
| California Infrastructure & Economic Development Bank<sup>(d)</sup> | 5.25% | 5/15/2059 | AA | 4560000 | 4752344 |
| California Municipal Finance Authority - California Baptist University<sup>†</sup> | 5.125% | 11/1/2040 | NR | 1350000 | 1354357 |
| California Municipal Finance Authority - California Baptist University<sup>†</sup> | 5.625% | 11/1/2054 | NR | 500000 | 497973 |
| California Municipal Finance Authority - SDORI Charter School Properties LLC<sup>†</sup> | 5.625% | 3/1/2045 | B+ | 11500000 | 10263212 |
| California Municipal Finance Authority - Westside Neighborhood School<sup>†</sup> | 6.20% | 6/15/2054 | BB | 2650000 | 2749377 |
| California Municipal Finance Authority - Westside Neighborhood School<sup>†</sup> | 6.375% | 6/15/2064 | BB | 5000000 | 5209997 |
| Camden County Improvement Authority - KIPP Cooper Norcross Obligated Group NJ | 6.00% | 6/15/2062 | BBB | 2535000 | 2601139 |
| Capital Trust Agency, Inc. - Renaissance Charter School Inc Series 2019 Obligated Group FL<sup>†</sup> | 5.00% | 6/15/2039 | NR | 1950000 | 1827083 |
| Capital Trust Agency, Inc. - Renaissance Charter School Inc Series 2019 Obligated Group FL<sup>†</sup> | 5.00% | 6/15/2049 | NR | 9815000 | 8628749 |
| Capital Trust Agency, Inc. - Southeastern University Obligated Group FL<sup>†</sup> | 6.375% | 5/1/2053 | BB | 6150000 | 6183499 |
| Capital Trust Authority - Kipp Miami Obligated Group FL<sup>†</sup> | 5.625% | 6/15/2044 | BB | 815000 | 815819 |
| Capital Trust Authority - Kipp Miami Obligated Group FL<sup>†</sup> | 6.00% | 6/15/2054 | BB | 1155000 | 1162214 |
| Capital Trust Authority - Kipp Miami Obligated Group FL<sup>†</sup> | 6.125% | 6/15/2060 | BB | 800000 | 805582 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL | 5.75% | 4/1/2048 | A <sup>(b)</sup> | 8500000 | 8796866 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL TCRS (BAM) | 5.00% | 4/1/2045 | AA | 2500000 | 2510342 |
| Chicago Board of Education IL GO | 4.00% | 12/1/2043 | BB+ | 2975000 | 2480458 |
| Chicago Board of Education IL GO | 4.00% | 12/1/2047 | BB+ | 35665000 | 28207352 |
| City of Jacksonville - Jacksonville University FL<sup>†</sup> | 5.00% | 6/1/2053 | NR | 6500000 | 5297397 |

---

*See Notes to Schedule of Investments.* 107

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| Clarksville Public Educational Facilities Board - University of the Ozarks AR | 6.00% | 8/1/2044 | NR | $1000000 | $1016469 |
| Clarksville Public Educational Facilities Board - University of the Ozarks AR | 6.25% | 8/1/2049 | NR | 1195000 | 1216891 |
| Clarksville Public Educational Facilities Board - University of the Ozarks AR | 6.25% | 8/1/2056 | NR | 2000000 | 2024012 |
| Cleveland-Cuyahoga County Port Authority OH<sup>†</sup> | 5.875% | 1/1/2049 | NR | 1450000 | 1405561 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc (PSF-GTD) | 5.25% | 2/15/2049 | Aaa | 8015000 | 8212385 |
| Colorado Educational & Cultural Facilities Authority<sup>†</sup> | 5.75% | 4/1/2059 | BB | 2250000 | 2197328 |
| Colorado Educational & Cultural Facilities Authority<sup>†</sup> | 5.80% | 4/1/2054 | BB | 3200000 | 3179314 |
| Columbus-Franklin County Finance Authority - Ohio Dominican University | 6.50% | 3/1/2048 | NR | 4830000 | 3149400 |
| Columbus-Franklin County Finance Authority - Ohio Dominican University | 6.50% | 3/1/2053 | NR | 3500000 | 2219068 |
| County of Tuscarawas - Ashland University OH | 6.00% | 3/1/2045 | NR | 5000000 | 4745905 |
| Development Authority of Cobb County - MT Bethel Christian Academy Inc GA<sup>†</sup> | 6.25% | 6/1/2055 | BB+ | 2655000 | 2692969 |
| Development Authority of Cobb County - MT Bethel Christian Academy Inc GA<sup>†</sup> | 6.25% | 6/1/2064 | BB+ | 2150000 | 2167357 |
| Development Authority Of The City Of Marietta - Life University Inc GA<sup>†</sup> | 5.00% | 11/1/2037 | Ba3 | 13000000 | 12392787 |
| District of Columbia - Catholic University of America/The DC | 5.75% | 10/1/2055 | A- | 5000000 | 5159679 |
| Florida Development Finance Corp. - Renaissance Charter School Inc<sup>†</sup> | 6.75% | 6/15/2053 | NR | 8000000 | 8336040 |
| Florida Development Finance Corp. - Renaissance Charter School Inc Series 2020C/D Obligated Group<sup>†</sup> | 5.00% | 9/15/2040 | NR | 1505000 | 1376731 |
| Florida Higher Educational Facilities Financial Authority - Jacksonville University<sup>†</sup> | 5.00% | 6/1/2048 | NR | 9000000 | 7600877 |
| Florida Higher Educational Facilities Financing Authority - Keiser University Obligated Group<sup>†(e)</sup> | 6.25% | 7/1/2055 | BB+ | 50000000 | 50091545 |
| Illinois Finance Authority - Benedictine University | 5.00% | 10/1/2038 | BB | 3700000 | 3066406 |

---

108 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| Illinois Finance Authority - DePaul College Prep<sup>†</sup> | 5.50% | 8/1/2043 | BB+ | $1360000 | $1400326 |
| Illinois Finance Authority - DePaul College Prep<sup>†</sup> | 5.625% | 8/1/2053 | BB+ | 4500000 | 4563238 |
| Illinois Finance Authority - Illinois Institute of Technology<sup>†</sup> | 5.875% | 9/1/2046 | BB+ | 9250000 | 8984664 |
| Industrial Development Authority of the City of Phoenix Arizona - BASIS Schools Inc Obligated Group AZ<sup>†</sup> | 5.00% | 7/1/2045 | BB | 7200000 | 6784471 |
| Iowa Higher Education Loan Authority - University of Dubuque | 5.00% | 10/1/2045 | BBB- | 1850000 | 1742372 |
| Iowa Higher Education Loan Authority - University of Dubuque | 5.25% | 10/1/2040 | BBB- | 2000000 | 2033998 |
| Iowa Higher Education Loan Authority - University of Dubuque | 6.00% | 10/1/2055 | BBB- | 3775000 | 3885184 |
| Louisiana Public Facilities Authority - Acadiana Renaissance Charter Academy<sup>†</sup> | 6.00% | 6/15/2059 | NR | 2200000 | 2156140 |
| Louisiana Public Facilities Authority - Lafayette Renaissance Charter Academy<sup>†</sup> | 6.375% | 6/15/2053 | NR | 8000000 | 7978262 |
| Louisiana Public Facilities Authority - Loyola University New Orleans | 5.25% | 10/1/2048 | Baa1 | 1225000 | 1189480 |
| Louisiana Public Facilities Authority - Loyola University New Orleans | 5.25% | 10/1/2053 | Baa1 | 13225000 | 12577771 |
| Maricopa County Industrial Development Authority - Morrison Education Group Obligated Group AZ<sup>†</sup> | 6.25% | 7/1/2044 | NR | 3490000 | 3521189 |
| Maricopa County Industrial Development Authority - Morrison Education Group Obligated Group AZ<sup>†</sup> | 6.50% | 7/1/2054 | NR | 5660000 | 5690857 |
| Maricopa County Industrial Development Authority - Morrison Education Group Obligated Group AZ<sup>†</sup> | 6.625% | 7/1/2059 | NR | 3125000 | 3151830 |
| Maricopa County Industrial Development Authority - Morrison Education Group Obligated Group AZ<sup>†</sup> | 6.75% | 7/1/2063 | NR | 1000000 | 1012251 |
| Maricopa County Industrial Development Authority - Ottawa University AZ<sup>†</sup> | 5.25% | 10/1/2040 | NR | 3000000 | 2606476 |
| Maricopa County Industrial Development Authority - Ottawa University AZ<sup>†</sup> | 5.50% | 10/1/2051 | NR | 7915000 | 6446464 |
| Massachusetts Development Finance Agency - Emmanuel College/MA | 5.00% | 10/1/2043 | Baa3 | 9925000 | 9301445 |

---

*See Notes to Schedule of Investments.* 109

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| Massachusetts Development Finance Agency - Suffolk University | 5.25% | 7/1/2055 | Baa3 | $3000000 | $2869151 |
| Massachusetts Development Finance Agency - Suffolk University | 6.00% | 7/1/2050 | Baa3 | 1000000 | 1052319 |
| Massachusetts School Building Authority | 3.00% | 8/15/2050 | AA+ | 5000000 | 3577433 |
| Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board - Lipscomb University Obligated Group TN | 5.25% | 10/1/2058 | BBB- | 2255000 | 2213008 |
| Middlesex County Improvement Authority - Rutgers The State University of New Jersey<sup>(d)</sup> | 5.00% | 8/15/2053 | Aa3 | 15000000 | 15364709 |
| New York St Dorm Auth Revenues<sup>(d)</sup> | 5.25% | 7/1/2055 | AA- | 14750000 | 15236577 |
| New York State Dormitory Authority - Yeshiva University | 5.00% | 7/15/2042 | BBB- | 3725000 | 3706993 |
| Ohio Higher Educational Facility Commission - Xavier University | 5.25% | 5/1/2049 | Baa1 | 2805000 | 2789586 |
| Ohio Higher Educational Facility Commission - Xavier University | 5.25% | 5/1/2054 | Baa1 | 4685000 | 4597928 |
| Public Finance Authority - Mater Academy of Nevada WI<sup>†</sup> | 5.00% | 12/15/2044 | BB | 500000 | 455499 |
| Public Finance Authority - Mater Academy of Nevada WI<sup>†</sup> | 5.00% | 12/15/2054 | BB | 2000000 | 1721546 |
| Public Finance Authority - Triad Math & Science Academy Co WI | 5.25% | 6/15/2065 | BBB- | 2000000 | 1870592 |
| Public Finance Authority - Triad Math & Science Academy Co WI | 5.50% | 6/15/2055 | BBB- | 1050000 | 1040804 |
| Public Finance Authority - UMA Education Inc WI<sup>†</sup> | 5.00% | 10/1/2034 | BB+ | 2610000 | 2660658 |
| Public Finance Authority - UMA Education Inc WI<sup>†</sup> | 5.00% | 10/1/2039 | BB+ | 8250000 | 8154750 |
| Public Finance Authority - Wingate University WI | 5.25% | 10/1/2043 | BBB- | 2000000 | 1883137 |
| Sierra Vista Industrial Development Authority - American Leadership Academy Inc AZ<sup>†</sup> | 5.00% | 6/15/2054 | NR | 1050000 | 952044 |
| Sierra Vista Industrial Development Authority - American Leadership Academy Inc AZ<sup>†</sup> | 5.00% | 6/15/2059 | NR | 1050000 | 940124 |
| Sierra Vista Industrial Development Authority - American Leadership Academy Inc AZ<sup>†</sup> | 5.00% | 6/15/2064 | NR | 2580000 | 2280322 |

---

110 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |  |
| Sierra Vista Industrial Development Authority - American Leadership Academy Inc AZ<sup>†</sup> | 5.75% |  | 6/15/2058 | NR | $19000000 | $19039761 |
| Washington State Housing Finance Commission - Seattle Academy of Arts & Sciences<sup>†</sup> | 6.25% |  | 7/1/2059 | BBB | 2250000 | 2393915 |
| Washington State Housing Finance Commission - Seattle Academy of Arts & Sciences<sup>†</sup> | 6.375% |  | 7/1/2063 | BBB | 1525000 | 1631780 |
| *Total* |  |  |  |  |  | 411717724 |
| **General Obligation 7.85%** |  |  |  |  |  |  |
| American Samoa Economic Development Authority | 6.625% |  | 9/1/2035 | Ba3 | 2275000 | 2286359 |
| American Samoa Economic Development Authority<sup>†</sup> | 7.125% |  | 9/1/2038 | Ba3 | 7020000 | 7433745 |
| California Community Choice Financing Authority | 5.25% | <sup>#(a)</sup> | 1/1/2054 | Baa1 | 5500000 | 5766207 |
| Chicago Board of Education IL GO | 4.00% |  | 12/1/2041 | BB+ | 11150000 | 9654445 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2030 | BB+ | 5170000 | 5247245 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2031 | BB+ | 2500000 | 2528475 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2033 | BB+ | 1500000 | 1508667 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2034 | BB+ | 9515000 | 9696981 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2036 | BB+ | 4000000 | 3896262 |
| Chicago Board of Education IL GO | 5.875% |  | 12/1/2047 | BB+ | 6750000 | 7007012 |
| Chicago Board of Education IL GO | 6.00% |  | 12/1/2049 | BB+ | 4875000 | 5085776 |
| Chicago Board of Education IL GO | 6.50% |  | 12/1/2046 | BB+ | 5000000 | 5050238 |
| Chicago Board of Education IL GO<sup>†</sup> | 6.75% |  | 12/1/2030 | BB+ | 2000000 | 2132926 |
| Chicago Board of Education IL GO | 7.00% |  | 12/1/2044 | BB+ | 3895000 | 3915010 |
| Chicago Board of Education IL GO<sup>†</sup> | 7.00% |  | 12/1/2046 | BB+ | 6560000 | 6742633 |
| City of Chicago IL GO | 5.50% |  | 1/1/2039 | BBB | 2125000 | 2187687 |
| City of Chicago IL GO | 5.50% |  | 1/1/2049 | BBB | 9090000 | 9027569 |
| City of Chicago IL GO | 6.00% |  | 1/1/2050 | BBB | 8500000 | 8775953 |
| City of Horace ND GO | 4.50% |  | 5/1/2039 | Baa3 | 1250000 | 1204662 |
| City of Horace ND GO | 5.00% |  | 5/1/2050 | Baa3 | 1350000 | 1281017 |
| Commonwealth of Puerto Rico GO | Zero Coupon | <sup>#(a)</sup> | 11/1/2043 | NR | 10923633 | 6731689 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2041 | NR | 19134000 | 17023367 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2046 | NR | 47163156 | 40351160 |
| County of Pasco - State of Florida Cigarette Tax Revenue (AG) | 5.75% |  | 9/1/2054 | AA | 2000000 | 2108809 |

---

*See Notes to Schedule of Investments.* 111

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  |  |  |
| Grant County Public Hospital District No. 1 WA GO | 5.125% | 12/1/2052 | Baa2 | $4750000 | $4555146 |
| Grapevine Wash Local District - Grapevine Wash Local District Residential Facilities Fee Revenue UT GO<sup>†</sup> | 6.00% | 3/1/2055 | NR | 17335000 | 16229039 |
| Idaho Falls Auditorium District COPS<sup>†</sup> | 5.25% | 5/15/2051 | NR | 16700000 | 15571973 |
| Independence Metropolitan District No. 3 CO GO | 5.375% | 12/1/2054 | NR | 9500000 | 9069623 |
| Metropolitan Government Nashville & Davidson County Sports Authority TN (AG) | 5.25% | 7/1/2048 | AA | 3975000 | 4087131 |
| Metropolitan Government Nashville & Davidson County Sports Authority TN (AG) | 5.25% | 7/1/2053 | AA | 4000000 | 4119878 |
| Metropolitan Government Nashville & Davidson County Sports Authority TN (AG) | 5.25% | 7/1/2053 | AA | 3000000 | 3062631 |
| Mida Cormont Public Infrastructure District UT GO<sup>†</sup> | Zero Coupon | 6/1/2055 | NR | 4850000 | 3952419 |
| Mida Cormont Public Infrastructure District UT GO<sup>†</sup> | 6.25% | 6/1/2055 | NR | 2000000 | 2051904 |
| New York State Urban Development Corp. - State of New York Sales Tax Revenue | 3.00% | 3/15/2049 | Aa1 | 10000000 | 7105900 |
| Pennsylvania Economic Development Financing Authority - Commonwealth of Pennsylvania Department of Transportation AMT | 6.00% | 6/30/2061 | Baa2 | 23480000 | 24604420 |
| State of Illinois GO | 5.25% | 5/1/2045 | A- | 2500000 | 2542881 |
| State of Illinois GO | 5.50% | 5/1/2039 | A- | 8280000 | 8677053 |
| State of Illinois GO | 5.50% | 10/1/2039 | A- | 4000000 | 4258610 |
| State of Illinois GO | 5.50% | 3/1/2042 | A- | 5250000 | 5481146 |
| State of Illinois GO | 5.50% | 3/1/2047 | A- | 15270000 | 15594692 |
| State of Illinois GO | 5.50% | 5/1/2047 | A- | 6000000 | 6127879 |
| STC Metropolitan District No. 2 CO GO<sup>†</sup> | 6.25% | 12/1/2055 | NR | 6500000 | 6588492 |
| University City Industrial Development Authority MO | 4.875% | 6/15/2036 | NR | 1060000 | 1052971 |
| University City Industrial Development Authority MO | 5.50% | 6/15/2042 | NR | 6000000 | 5827572 |
| *Total* |  |  |  |  | 317205254 |

---

112 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care 23.45%** |  |  |  |  |  |
| Antelope Valley Healthcare District Obligated Group CA | 5.00% | 3/1/2041 | BBB | $4000000 | $3743547 |
| Antelope Valley Healthcare District Obligated Group CA | 5.00% | 3/1/2046 | BBB | 3300000 | 2914816 |
| Antelope Valley Healthcare District Obligated Group CA | 5.25% | 3/1/2036 | BBB | 1000000 | 1004824 |
| Arizona Industrial Development Authority - Navajo Health Foundation- Sage Memorial Hospital Inc Obligated Group<sup>†</sup> | 7.625% | 5/1/2054 | NR | 13750000 | 14838790 |
| Astoria Hospital Facilities Authority - Columbia Lutheran Charities Obligated Group OR | 5.25% | 8/1/2049 | BBB | 5195000 | 5115195 |
| Astoria Hospital Facilities Authority - Columbia Lutheran Charities Obligated Group OR | 5.25% | 8/1/2054 | BBB | 8350000 | 8108313 |
| Atlanta Development Authority - Georgia ProtonCare Center Inc<sup>(c)</sup> | 6.00% | 1/1/2023 | NR | 2000000 | 1040000 |
| Atlanta Development Authority - Georgia ProtonCare Center Inc<sup>(c)</sup> | 6.75% | 1/1/2035 | NR | 1500000 | 780000 |
| Atlanta Development Authority - Georgia ProtonCare Center Inc<sup>(c)</sup> | 7.00% | 1/1/2040 | NR | 4000000 | 2080000 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | Zero Coupon | 6/30/2044 | NR | 23200000 | 16810082 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 5.00% | 6/30/2039 | NR | 43616000 | 40302292 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 6.00% | 6/30/2034 | NR | 3253832 | 3445869 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 8.00% | 6/30/2034 | NR | 6493734 | 6634550 |
| Bucks County Industrial Development Authority - Grand View Hospital/ Sellersville Obligated Group PA | 4.00% | 7/1/2046 | B+ | 24575000 | 20226626 |
| Bucks County Industrial Development Authority - Grand View Hospital/ Sellersville PA Obligated Group PA | 5.00% | 7/1/2054 | B+ | 1000000 | 921273 |
| Buffalo & Erie County Industrial Land Development Corp. - Catholic Health System Obligated Group NY | 4.00% | 7/1/2045 | B- | 2585000 | 2154033 |
| Buffalo & Erie County Industrial Land Development Corp. - Catholic Health System Obligated Group NY | 5.00% | 7/1/2040 | B- | 11020000 | 10559833 |

---

*See Notes to Schedule of Investments.* 113

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| California Municipal Finance Authority - Community Hospitals of Central California Obligated Group | 3.00% | 2/1/2046 | A3 | $5000000 | $3547558 |
| California Municipal Finance Authority - Palomar Health Obligated Group COPS<sup>†</sup> | 5.00% | 11/1/2027 | B | 2435000 | 2270709 |
| California Municipal Finance Authority - PRS-California Obligated Group | 5.00% | 4/1/2054 | BBB+ <sup>(b)</sup> | 1740000 | 1669216 |
| California Public Finance Authority - Kendal At Ventura<sup>†</sup> | 10.00% | 5/15/2028 | NR | 6500000 | 6654947 |
| California Public Finance Authority - Kendal At Ventura<sup>†</sup> | 12.00% | 5/15/2028 | NR | 1000000 | 1060587 |
| California Public Finance Authority - QSH/MB LLC<sup>†</sup> | 6.75% | 7/1/2065 | NR | 14815000 | 15493994 |
| California Statewide Communities Development Authority - Loma Linda University Medical Center Obligated Group<sup>†</sup> | 5.25% | 12/1/2048 | BB | 4080000 | 3966680 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.00% | 12/1/2041 | BB | 1700000 | 1649883 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.00% | 12/1/2046 | BB | 6000000 | 5674270 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group | 5.25% | 12/1/2044 | BB | 12840000 | 12504208 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.25% | 12/1/2056 | BB | 36625000 | 35154653 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group | 5.50% | 12/1/2054 | BB | 13695000 | 13480130 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.50% | 12/1/2058 | BB | 37035000 | 36201675 |
| Capital Projects Finance Authority - Trilogy Community Development Foundation Inc Obligated Group FL<sup>†</sup> | 7.125% | 1/1/2065 | NR | 6250000 | 6061797 |
| Capital Projects Finance Authority - Trilogy Community Development Foundation Inc Obligated Group FL<sup>†</sup> | 7.25% | 1/1/2055 | NR | 4000000 | 4011893 |
| Capital Trust Authority - Convivial St Petersburg LLC FL<sup>†</sup> | 12.00% | 10/3/2029 | NR | 6000000 | 6077785 |

---

114 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Chester County Health & Education Facilities Authority - Immaculata University PA | 5.00% | 11/1/2037 | BB- <sup>(b)</sup> | $4000000 | $3546852 |
| Chester County Health & Education Facilities Authority - Immaculata University PA | 5.00% | 11/1/2046 | BB- <sup>(b)</sup> | 4150000 | 3309500 |
| City of Blaine - Crest View Obligated Group MN<sup>(c)</sup> | 6.125% | 7/1/2050 | NR | 4468580 | 2457719 |
| City of Colby KS - Citizens Medical Center Inc | 5.50% | 7/1/2026 | NR | 7400000 | 7417855 |
| City of Fruita Healthcare Revenue - Lower Valley Hospital Association Obligated Group CO<sup>†</sup> | 5.50% | 1/1/2048 | NR | 16350000 | 15155570 |
| City of Wichita - Presbyterian Manors Obligated Group KS | 5.25% | 5/15/2039 | NR | 1500000 | 1455522 |
| City of Wichita - Presbyterian Manors Obligated Group KS | 5.75% | 5/15/2045 | NR | 2000000 | 1919594 |
| City of Wichita - Presbyterian Manors Obligated Group KS | 5.875% | 5/15/2050 | NR | 2000000 | 1885246 |
| County of Cuyahoga - MetroHealth System OH | 5.50% | 2/15/2057 | BBB | 4900000 | 4763666 |
| County of Howard - Columbia Vantage House Corp MD | 5.00% | 4/1/2044 | NR | 1955000 | 1706572 |
| County of Howard - Columbia Vantage House Corp MD | 5.00% | 4/1/2046 | NR | 7000000 | 6019976 |
| County of Muskingum - Genesis Healthcare Obligated Group OH | 5.00% | 2/15/2033 | BB+ | 2765000 | 2775922 |
| County of Muskingum - Genesis Healthcare Obligated Group OH | 5.00% | 2/15/2044 | BB+ | 20000000 | 19066524 |
| County of Washington - Marietta Area Health Care Inc Obligated Group OH | 6.75% | 12/1/2052 | NR | 16600000 | 17231379 |
| County of Wilson - Wilson County Hospital KS | 5.60% | 9/1/2036 | NR | 3530000 | 3009233 |
| Crawford County Hospital Authority - Meadville Medical Center Obligated Group PA | 6.00% | 6/1/2046 | NR | 2225000 | 2232687 |
| Crawford County Hospital Authority - Meadville Medical Center Obligated Group PA | 6.00% | 6/1/2051 | NR | 2600000 | 2590282 |
| Denver Health & Hospital Authority CO | 5.125% | 12/1/2050 | BBB | 1000000 | 991025 |
| Denver Health & Hospital Authority CO | 5.25% | 12/1/2045 | BBB | 3700000 | 3706472 |

---

*See Notes to Schedule of Investments.* 115

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Denver Health & Hospital Authority CO | 6.00% | 12/1/2055 | BBB | $1250000 | $1320774 |
| Doylestown Hospital Authority - Doylestown Hospital Obligated Group PA<sup>†</sup> | 5.375% | 7/1/2039 | NR | 2000000 | 2123161 |
| Duluth Economic Development Authority - Essentia Health Obligated Group MN | 5.25% | 2/15/2058 | A- | 12000000 | 11943204 |
| Duluth Economic Development Authority - St Luke's Hospital of Duluth Obligated MN | 5.25% | 6/15/2052 | AA- | 5500000 | 5575637 |
| Glendale Industrial Development Authority - Beatitudes Campus Obligated Group AZ | 5.00% | 11/15/2036 | NR | 1500000 | 1172643 |
| Glendale Industrial Development Authority - Beatitudes Campus Obligated Group AZ | 5.00% | 11/15/2040 | NR | 3000000 | 2191218 |
| Grays Harbor County Public Hospital District No. 1 WA | 6.875% | 12/1/2049 | BB+ | 7500000 | 8200639 |
| Grays Harbor County Public Hospital District No. 1 WA | 6.875% | 12/1/2053 | BB+ | 8000000 | 8684362 |
| Holmes County Hospital Corp. FL<sup>(c)</sup> | 5.75% | 11/1/2026 | NR | 2775000 | 2711091 |
| Holmes County Hospital Corp. FL | 6.00% | 11/1/2038 | NR | 7115000 | 6144753 |
| Idaho Health Facilities Authority - North Canyon Medical Center Inc | 7.00% | 11/1/2048 | NR | 8000000 | 8383565 |
| Idaho Health Facilities Authority - North Canyon Medical Center Inc | 7.125% | 11/1/2057 | NR | 7000000 | 7355183 |
| Industrial Development Authority of the County of Pima - La Posada at Park Centre Inc Obligated Group AZ<sup>†</sup> | 6.875% | 11/15/2052 | NR | 4000000 | 4172257 |
| Industrial Development Authority of the County of Pima - La Posada at Park Centre Inc Obligated Group AZ<sup>†</sup> | 7.00% | 11/15/2057 | NR | 5500000 | 5759925 |
| Jefferson County Public Hospital District No. 2 WA | 6.875% | 12/1/2053 | NR | 10000000 | 10093688 |
| Kentucky Economic Development Finance Authority - Masonic Homes of Kentucky Inc Obligated Group | 5.375% | 11/15/2032 | NR | 1100000 | 1062574 |
| King County Public Hospital District No. 4 WA | 6.25% | 12/1/2045 | NR | 4000000 | 3950544 |
| Kremmling Memorial Hospital District CO<sup>†</sup> | 6.375% | 12/1/2049 | NR | 4495000 | 4185946 |
| Kremmling Memorial Hospital District CO<sup>†</sup> | 6.625% | 12/1/2056 | NR | 6125000 | 5738589 |

---

116 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Louisiana Local Government Environmental Facilities & Community Development Authority - St James Place of Baton Rouge Obligated Group | 6.25% | 11/15/2045 | NR | $6100000 | $5922871 |
| Magnolia West Community Development District FL | 5.35% | 5/1/2037 | NR | 180000 | 181236 |
| Maryland Health & Higher Educational Facilities Authority<sup>(d)</sup> | 5.00% | 7/1/2054 | A+ | 4230000 | 4323991 |
| Maryland Health & Higher Educational Facilities Authority<sup>(d)</sup> | 5.25% | 7/1/2054 | A+ | 4300000 | 4323991 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 4.00% | 7/1/2044 | BBB- | 10920000 | 9026760 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 5.00% | 7/1/2044 | BBB- | 3000000 | 2841502 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 8.50% | 10/1/2026 | BBB- | 8905000 | 8953708 |
| Michigan Finance Authority Provident Group - HFH Energy LLC | 5.50% | 2/28/2049 | A3 | 1100000 | 1142124 |
| Michigan Finance Authority Provident Group - HFH Energy LLC | 5.50% | 2/28/2057 | A3 | 1375000 | 1418821 |
| Monroe County Hospital Authority - Centurion Foundation Lehigh Valley LLC PA<sup>†</sup> | 5.10% | 6/15/2039 | NR | 20000000 | 19078232 |
| Moon Industrial Development Authority - Baptist Homes Society Obligated Group PA | 6.00% | 7/1/2045 | NR | 9250000 | 8031532 |
| New Hampshire Business Finance Authority - NFA UH SPV LLC<sup>†</sup> | 5.625% | 12/15/2033 | NR | 3705000 | 3771844 |
| New Hampshire Business Finance Authority - NFA UH SPV LLC<sup>†</sup> | 6.25% | 12/15/2038 | NR | 4045000 | 4099139 |
| New Hope Cultural Education Facilities Finance Corp. - Bella Vida Forefront Living Obligated Group TX | 6.50% | 10/1/2055 | NR | 2180000 | 2123451 |
| New Hope Cultural Education Facilities Finance Corp. - Bella Vida Forefront Living Obligated Group TX | 6.50% | 10/1/2060 | NR | 1125000 | 1088636 |
| New Hope Cultural Education Facilities Finance Corp. - SLF CHP LLC TX<sup>†</sup> | 6.50% | 7/1/2056 | NR | 17600000 | 15939306 |
| New Jersey Economic Development Authority - Bancroft Neurohealth Obligated Group | 5.00% | 6/1/2036 | NR | 1500000 | 1500891 |

---

*See Notes to Schedule of Investments.* 117

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| New Jersey Health Care Facilities Financing Authority - RWJ Barnabas Health Obligated Group | 3.00% | 7/1/2051 | AA- | $3690000 | $2640513 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 4.00% | 7/1/2045 | B- | 15500000 | 12619513 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.25% | 10/1/2049 | BBB- | 3000000 | 3022924 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group (AG) | 5.50% | 10/1/2054 | AA | 6500000 | 6772438 |
| Niagara Area Development Corp. - Catholic Health System Obligated Group NY | 4.50% | 7/1/2052 | B- | 3490000 | 2989001 |
| Niagara Area Development Corp. - Catholic Health System Obligated Group NY | 5.00% | 7/1/2052 | B- | 8545000 | 7880129 |
| Norman Regional Hospital Authority - Norman Regional Hospital Authority Obligated Group OK | 4.00% | 9/1/2037 | CCC | 2365000 | 1898997 |
| Norman Regional Hospital Authority - Norman Regional Hospital Authority Obligated Group OK | 5.00% | 9/1/2045 | CCC | 1050000 | 877569 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.00% | 8/15/2038 | BB | 6015000 | 6058430 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.25% | 8/15/2048 | BB | 16795000 | 16245589 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.45% | 8/15/2028 | BB | 3000000 | 2921265 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.50% | 8/15/2044 | NR | 1300000 | 1272842 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.50% | 8/15/2052 | BB | 15000000 | 14824954 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.50% | 8/15/2057 | BB | 23690000 | 23232660 |
| Onondaga Civic Development Corp. - Crouse Health Hospital Inc Obligated Group NY | 5.375% | 8/1/2054 | B+ <sup>(b)</sup> | 4000000 | 3156001 |
| Orange County Health Facilities Authority<sup>(d)</sup> | 5.25% | 10/1/2056 | A+ | 10755000 | 10929574 |
| Orange County Health Facilities Authority<sup>(d)</sup> | 5.25% | 10/1/2056 | A+ | 5000000 | 5083484 |

---

<br> 118 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest <br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| Pennsylvania Higher Educational Facilities Authority - University of Pennsylvania Health System Obligated Group/The<sup>(e)</sup> | 5.50% |  | 8/15/2055 | AA | $4150000 | $4369862 |
| Philadelphia Authority for Industrial Development - Greater Philadelphia Health Action Inc PA | 6.50% |  | 6/1/2045 | NR | 2485000 | 2443010 |
| Philadelphia Authority for Industrial Development - Greater Philadelphia Health Action Inc PA | 6.625% |  | 6/1/2050 | NR | 3415000 | 3340794 |
| Public Finance Authority - Bancroft Neurohealth Obligated Group<sup>†</sup> | 5.125% |  | 6/1/2048 | NR | 7240000 | 6633494 |
| Public Finance Authority - Bancroft Neurohealth Obligated Group WI<sup>†</sup> | 4.625% |  | 6/1/2036 | NR | 4380000 | 4232844 |
| Public Finance Authority - Lehigh Valley Health Network Inc WI<sup>†</sup> | 7.25% |  | 12/1/2042 | NR | 8750000 | 8798926 |
| Public Finance Authority - Lehigh Valley Health Network Inc WI<sup>†</sup> | 7.50% |  | 12/1/2052 | NR | 8650000 | 8771592 |
| Public Finance Authority - Munificent Behavioral Hospitals I Inc Obligated Group WI<sup>†(e)</sup> | 7.25% |  | 1/1/2061 | NR | 13000000 | 13367762 |
| Public Finance Authority - Proton International Alabama LLC WI<sup>†(c)</sup> | 6.85% |  | 10/1/2047 | NR | 3000000 | 300000 |
| Public Finance Authority - Proton Intl - Delray LLC WI<sup>†(c)</sup> | 6.85% |  | 11/1/2046 | NR | 2000000 | 1100000 |
| Public Finance Authority - QCF Behavioral Hospitals I Obligated Group WI<sup>†</sup> | Zero Coupon |  | 7/1/2064 | NR | 534160000 | 5685813 |
| Public Finance Authority - QCF Behavioral Hospitals I Obligated Group WI<sup>†</sup> | 7.50% |  | 7/1/2059 | NR | 13650000 | 15057849 |
| Public Finance Authority - RBS Evolution LLC WI<sup>†</sup> | 10.00% |  | 11/1/2038 | NR | 13100000 | 14809568 |
| Rhode Island Health & Educational Building Corp. - Care New England Health System Obligated Group | 5.00% |  | 9/1/2031 | BB- | 3000000 | 3007010 |
| Rhode Island Health & Educational Building Corp. - Lifespan Obligated Group | 5.25% |  | 5/15/2054 | BBB+ | 4500000 | 4467186 |
| Roanoke County Economic Development Authority - Friendship Foundation | 5.50% | <sup>#(a)</sup> | 9/1/2058 | NR | 10615000 | 10424390 |
| Shelby County Health Educational & Housing Facilities Board - Luke Inc Obligated Group TN | 5.75% |  | 10/1/2059 | NR | 11500000 | 6922349 |
| Skagit County Public Hospital District No. 1 WA | 5.50% |  | 12/1/2054 | Baa3 | 5680000 | 5779524 |

---

<br> *See Notes to Schedule of Investments.* 119

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| South Carolina Jobs-Economic Development Authority - Beaufort Memorial Hospital Obligated Group | 5.50% | 11/15/2044 | BB | $2575000 | $2556662 |
| South Carolina Jobs-Economic Development Authority - Beaufort Memorial Hospital Obligated Group | 5.75% | 11/15/2054 | BB | 5335000 | 5392668 |
| South Carolina Jobs-Economic Development Authority - Hampton Regional Medical Center Obligated Group | 5.00% | 11/1/2042 | NR | 3815000 | 3302454 |
| South Carolina Jobs-Economic Development Authority - Hampton Regional Medical Center Obligated Group | 5.00% | 11/1/2046 | NR | 6070000 | 5074628 |
| South Carolina Jobs-Economic Development Authority - Kiawah Life Plan Village Inc | 5.75% | 11/15/2029 | NR | 3500000 | 3499858 |
| South Carolina Jobs-Economic Development Authority - Kiawah Life Plan Village Inc | 7.50% | 11/15/2053 | NR | 9000000 | 9348984 |
| South Carolina Jobs-Economic Development Authority - Kiawah Life Plan Village Inc | 7.75% | 11/15/2058 | NR | 17600000 | 18502852 |
| Southeastern Ohio Port Authority - Marietta Area Healthcare Inc Obligated Group | 5.50% | 12/1/2043 | B <sup>(b)</sup> | 5025000 | 4420442 |
| Stamford Housing Authority - TJH Senior Living LLC Obligated Group CT | 6.25% | 10/1/2060 | NR | 1000000 | 970802 |
| Stamford Housing Authority - TJH Senior Living LLC Obligated Group CT | 6.50% | 10/1/2055 | NR | 2200000 | 2205747 |
| Tarrant County Cultural Education Facilities Finance Corp TX<sup>(d)</sup> | 5.00% | 7/1/2053 | A1 | 9550000 | 9193434 |
| Upper San Juan Health Service District Medical Center Revenue CO | 6.00% | 6/1/2041 | NR | 2225000 | 2123781 |
| Upper San Juan Health Service District Medical Center Revenue CO | 6.125% | 6/1/2046 | NR | 3015000 | 2829990 |
| West Virginia Hospital Finance Authority - Vandalia Health Inc Obligated Group | 6.00% | 9/1/2048 | BBB+ | 2060000 | 2207807 |
| West Virginia Hospital Finance Authority - Vandalia Health Inc Obligated Group | 6.00% | 9/1/2053 | BBB+ | 3250000 | 3459601 |
| Westchester County Health Care Corp Obligated Group NY (AG) | 5.00% | 11/1/2047 | AA | 3325000 | 3388913 |
| Westchester County Health Care Corp Obligated Group NY (AG) | 5.75% | 11/1/2053 | AA | 2250000 | 2397427 |

---

<br> 120 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Wisconsin Health & Educational Facilities Authority - Chiara Housing & Services Inc Obligated Group | 5.625% | 7/1/2045 | NR | $8000000 | $7726810 |
| Wisconsin Health & Educational Facilities Authority - Chiara Housing & Services Inc Obligated Group | 6.00% | 7/1/2060 | NR | 2500000 | 2435777 |
| Wisconsin Health & Educational Facilities Authority - Chiara Housing & Services Inc Obligated Group | 6.625% | 7/1/2060 | NR | 4300000 | 4430541 |
| Wisconsin Health & Educational Facilities Authority - Marshfield Clinic Health System Obligated Group | 5.50% | 2/15/2054 | A | 9750000 | 10220272 |
| Wisconsin Health & Educational Facilities Authority - Marshfield Clinic Health System Obligated Group (BAM) | 5.25% | 2/15/2054 | AA | 1250000 | 1283123 |
| Wisconsin Health & Educational Facilities Authority - Sauk-Prairie Memorial Hospital Inc Obligated Group | 5.375% | 2/1/2048 | Ba2 | 4000000 | 3754752 |
| Wisconsin Health & Educational Facilities Authority - Wisconsin Masonic Home Obligated Group | 5.75% | 8/15/2059 | BBB- <sup>(b)</sup> | 2380000 | 2405028 |
| *Total* |  |  |  |  | 947009621 |
| **Housing 5.98%** |  |  |  |  |  |
| California Community Housing Agency Arbors Apartments<sup>†</sup> | 5.00% | 8/1/2050 | NR | 10630000 | 9814289 |
| California Community Housing Agency Summit at Sausalito Apartments<sup>†</sup> | 3.00% | 2/1/2057 | NR | 14310000 | 9353829 |
| California Community Housing Agency Summit at Sausalito Apartments<sup>†</sup> | 4.00% | 2/1/2050 | NR | 16345000 | 12121696 |
| California Municipal Finance Authority - Ascent 613<sup>†</sup> | 5.375% | 1/1/2055 | NR | 2500000 | 2325889 |
| California Municipal Finance Authority - Ascent 613<sup>†</sup> | 5.50% | 1/1/2060 | NR | 2000000 | 1877021 |
| California Public Finance Authority - P3 Irvine SL Holdings LLC Obligated Group<sup>†</sup> | 6.375% | 6/1/2059 | NR | 17700000 | 15956835 |
| California Public Finance Authority - P3 Irvine SL Holdings LLC Obligated Group<sup>†</sup> | 6.50% | 6/1/2054 | NR | 15100000 | 14135759 |
| Capital Projects Finance Authority - Provident Group - Continuum Properties LLC FL | 5.00% | 11/1/2038 | Baa3 | 1000000 | 999939 |
| Capital Projects Finance Authority - Provident Group - Continuum Properties LLC FL | 5.00% | 11/1/2040 | Baa3 | 1000000 | 971296 |

---

<br> *See Notes to Schedule of Investments.* 121

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing (continued)** |  |  |  |  |  |
| Capital Projects Finance Authority - Provident Group - Continuum Properties LLC FL | 5.00% | 11/1/2048 | Baa3 | $1350000 | $1248223 |
| Capital Projects Finance Authority - Provident Group - Continuum Properties LLC FL | 5.00% | 11/1/2053 | Baa3 | 1770000 | 1606806 |
| Capital Projects Finance Authority - Provident Group - Continuum Properties LLC FL | 5.00% | 11/1/2058 | Baa3 | 1750000 | 1565537 |
| Capital Trust Authority - Madrone Florida Tech Student Housing I LLC FL<sup>†</sup> | 5.25% | 7/1/2050 | BB | 1500000 | 1426197 |
| Capital Trust Authority - Madrone Florida Tech Student Housing I LLC FL<sup>†</sup> | 5.375% | 7/1/2065 | BB | 3250000 | 3035963 |
| CMFA Special Finance Agency CA<sup>†</sup> | 4.00% | 12/1/2045 | NR | 9650000 | 7328824 |
| CSCDA Community Improvement Authority Dublin CA<sup>†</sup> | 4.00% | 2/1/2057 | NR | 4500000 | 3256418 |
| CSCDA Community Improvement Authority Jefferson Platinum Triangle Apartments CA<sup>†</sup> | 3.125% | 8/1/2056 | NR | 14500000 | 10431484 |
| CSCDA Community Improvement Authority Orange Portfolio CA<sup>†</sup> | 3.00% | 3/1/2057 | NR | 7000000 | 4525819 |
| CSCDA Community Improvement Authority Orange Portfolio CA<sup>†</sup> | 4.00% | 3/1/2057 | NR | 3500000 | 2485801 |
| CSCDA Community Improvement Authority Pasadena Portfolio CA<sup>†</sup> | 4.00% | 12/1/2056 | NR | 13250000 | 9639289 |
| CSCDA Community Improvement Authority Westgate Apartments CA<sup>†</sup> | 3.00% | 6/1/2047 | NR | 14640000 | 9805641 |
| CSCDA Community Improvement Authority Westgate Apartments CA<sup>†</sup> | 4.00% | 6/1/2057 | NR | 25980000 | 7733422 |
| Indiana Finance Authority - CHF-Tippecanoe LLC | 5.375% | 6/1/2064 | BBB- | 5450000 | 5401242 |
| Indiana Finance Authority - SFP-PUFW I LLC | 5.00% | 7/1/2054 | BBB- | 1445000 | 1383386 |
| Indiana Finance Authority - SFP-PUFW I LLC | 5.00% | 7/1/2059 | BBB- | 1400000 | 1325683 |
| Indiana Finance Authority - SFP-PUFW I LLC | 5.25% | 7/1/2064 | BBB- | 3975000 | 3865706 |
| Iowa Finance Authority - Lifespace Communities Inc Obligated Group IA | 7.50% | 5/15/2053 | BBB <sup>(b)</sup> | 5750000 | 6332515 |

---

<br> 122 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing (continued)** |  |  |  |  |  |
| Knox County Health Educational & Housing Facility Board - Provident Group - UTK Properties LLC TN (BAM) | 5.25% | 7/1/2049 | AA | $2500000 | $2538491 |
| Knox County Health Educational & Housing Facility Board TN (BAM) | 5.125% | 7/1/2059 | AA | 1100000 | 1095579 |
| Knox County Health Educational & Housing Facility Board TN (BAM) | 5.25% | 7/1/2064 | AA | 2300000 | 2299810 |
| Maryland Economic Development Corp. | 5.75% | 7/1/2053 | BBB- | 2000000 | 2074994 |
| Maryland Economic Development Corp. | 6.00% | 7/1/2058 | BBB- | 5000000 | 5244104 |
| Maryland Economic Development Corp. - University of Maryland College Park (AG) | 5.00% | 7/1/2054 | AA | 5000000 | 4955265 |
| Maryland Economic Development Corp. - University of Maryland College Park (AG) | 5.25% | 7/1/2064 | AA | 5000000 | 5005750 |
| Massachusetts Development Finance Agency - PRG Medford Properties Inc | 5.25% | 6/1/2060 | A | 3000000 | 3055558 |
| Massachusetts Development Finance Agency - PRG Medford Properties Inc | 5.25% | 6/1/2065 | A | 2125000 | 2149445 |
| New Hampshire Business Finance Authority<sup>†</sup> | 4.168% | 1/20/2041 | NR | 2750000 | 2023840 |
| New Hampshire Business Finance Authority | 5.75% | 4/28/2042 | BBB | 4750000 | 4799941 |
| New Jersey Economic Development Authority - Provident Group-Rowan Properties LLC | 5.00% | 1/1/2048 | B1 | 500000 | 451865 |
| New York City Housing Development Corp. - 8 Spruce NY Owner LLC | 5.25% | 12/15/2031 | NR | 2550000 | 2611814 |
| Palm Beach County School District - Lifespace Communities Inc Obligated Group FL | 7.50% | 5/15/2053 | BBB <sup>(b)</sup> | 1000000 | 1101307 |
| Palm Beach County School District - Lifespace Communities Inc Obligated Group FL | 7.625% | 5/15/2058 | BBB <sup>(b)</sup> | 2000000 | 2208107 |
| Public Finance Authority - CHF-Manoa LLC WI<sup>†</sup> | 5.75% | 7/1/2053 | BBB- | 11540000 | 10991812 |
| Public Finance Authority - CHF-Manoa LLC WI<sup>†</sup> | 5.75% | 7/1/2063 | BBB- | 9870000 | 9210232 |
| Vail Home Partners Corp. - Vail Home Partners Corp CO<sup>†</sup> | 5.875% | 10/1/2055 | NR | 2500000 | 2500622 |
| Vail Home Partners Corp. - Vail Home Partners Corp CO<sup>†</sup> | 6.00% | 10/1/2064 | NR | 5250000 | 5260872 |

---

<br> *See Notes to Schedule of Investments.* 123

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing (continued)** |  |  |  |  |  |
| Virginia Beach Development Authority - Westminster-Canterbury on Chesapeake Bay Obligated Group | 7.00% | 9/1/2053 | BB+ <sup>(b)</sup> | $8000000 | $8756288 |
| Washington State Housing Finance Commission - Provident Group - SH II Properties LLC (BAM)<sup>†</sup> | 5.25% | 7/1/2055 | AA | 4000000 | 3999675 |
| Washington State Housing Finance Commission - Provident Group - SH II Properties LLC (BAM)<sup>†</sup> | 5.25% | 7/1/2064 | AA | 2500000 | 2459165 |
| Washington State Housing Finance Commission - Provident Group-SH I Properties LLC | 5.00% | 7/1/2054 | BBB- | 2000000 | 1923308 |
| Washington State Housing Finance Commission - Provident Group-SH I Properties LLC | 5.50% | 7/1/2044 | BBB- | 1350000 | 1396458 |
| Washington State Housing Finance Commission - Provident Group-SH I Properties LLC | 5.50% | 7/1/2049 | BBB- | 1000000 | 1023939 |
| Washington State Housing Finance Commission - Provident Group-SH I Properties LLC | 5.50% | 7/1/2059 | BBB- | 2500000 | 2537181 |
| *Total* |  |  |  |  | 241629931 |
| **Lease Obligations 0.51%** |  |  |  |  |  |
| City of Charlotte NC | 3.00% | 6/1/2048 | AA+ | 12715000 | 9160608 |
| Kansas City Industrial Development Authority - City of Kansas City MO Historic Northeast Redevelopment Area MO<sup>†</sup> | 5.00% | 6/1/2046 | NR | 2790000 | 2598978 |
| Kansas City Industrial Development Authority - City of Kansas City MO Historic Northeast Redevelopment Area MO<sup>†</sup> | 5.00% | 6/1/2054 | NR | 1525000 | 1363032 |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC AMT | 5.375% | 1/1/2043 | A- | 1175000 | 1175345 |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC AMT | 5.625% | 1/1/2052 | A- | 6500000 | 6503107 |
| *Total* |  |  |  |  | 20801070 |
| **Other Revenue 4.42%** |  |  |  |  |  |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 6.00% | 5/1/2042 | NR | 3425000 | 3454463 |

---

<br> 124 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Other Revenue (continued)** |  |  |  |  |  |  |
| Anson Education Facilities Corp. - Arlington Classics Academy TX | 5.00% |  | 8/15/2045 | BBB- | $2250000 | $2132736 |
| Arizona Industrial Development Authority - American Charter Schools Foundation<sup>†</sup> | 6.00% |  | 7/1/2047 | BBB- | 2460000 | 2488678 |
| Arizona Industrial Development Authority - Odyssey Preparatory Academy Inc<sup>†</sup> | 5.50% |  | 7/1/2052 | BB- | 2850000 | 2652179 |
| Arlington Higher Education Finance Corp. - Newman International Academy TX | 5.50% |  | 8/15/2046 | NR | 5000000 | 3905483 |
| Capital Trust Agency, Inc. - Educational Growth Fund FL<sup>†</sup> | 5.00% |  | 7/1/2056 | NR | 18350000 | 15780587 |
| Capital Trust Agency, Inc. - Franklin Academy Series 2020 Obligated Group FL<sup>†</sup> | 5.00% |  | 12/15/2050 | NR | 10000000 | 8653816 |
| Chester County Industrial Development Authority - Collegium Charter School PA | 5.25% |  | 10/15/2047 | BB | 3000000 | 2727045 |
| Cleveland-Cuyahoga County Port Authority - Playhouse Square Foundation OH | 5.25% |  | 12/1/2038 | BB+ | 1400000 | 1413283 |
| Cleveland-Cuyahoga County Port Authority - Playhouse Square Foundation OH | 5.50% |  | 12/1/2043 | BB+ | 3350000 | 3365934 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 6.125% |  | 8/15/2048 | Baa3 | 22025000 | 22103830 |
| Commonwealth of Puerto Rico | Zero Coupon | <sup>#(a)</sup> | 11/1/2051 | NR | 796127 | 262722 |
| Commonwealth of Puerto Rico GO | Zero Coupon | <sup>#(a)</sup> | 11/1/2051 | NR | 23860721 | 15091906 |
| County of Broward FL Convention Center Hotel Revenue<sup>(d)</sup> | 5.50% |  | 1/1/2055 | AA | 17000000 | 17717729 |
| Florida Development Finance Corp. - Franklin Academy Series 2016 Obligated Group<sup>†</sup> | 5.00% |  | 7/15/2046 | NR | 4000000 | 3594538 |
| Florida Development Finance Corp. - Palm Bay Academy Inc<sup>†</sup> | Zero Coupon |  | 5/15/2037 | NR | 940000 | 9 |
| Florida Development Finance Corp. - Palm Bay Academy Inc<sup>†</sup> | 6.375% |  | 5/15/2037 | NR | 2575000 | 2290948 |
| Florida Development Finance Corp. - Palm Bay Academy Inc<sup>†</sup> | 6.375% |  | 5/15/2037 | NR | 1220000 | 122000 |
| Florida Development Finance Corp. - Renaissance Charter School Inc Series 2015 Obligated Group<sup>†</sup> | 6.125% |  | 6/15/2046 | NR | 4935000 | 4934635 |

---

<br> *See Notes to Schedule of Investments.* 125

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Other Revenue (continued)** |  |  |  |  |  |
| Florida Development Finance Corp. - Renaissance Charter School Inc Series 2020C/D Obligated Group<sup>†</sup> | 5.00% | 9/15/2050 | NR | $3505000 | $2969945 |
| GDB Debt Recovery Authority of Puerto Rico | 7.50% | 8/20/2040 | NR | 391210 | 373385 |
| Industrial Development Authority of the City of Phoenix Arizona - BASIS Schools Inc Obligated Group AZ<sup>†</sup> | 5.00% | 7/1/2046 | BB | 5130000 | 4811856 |
| Industrial Development Authority of the County of Pima - Edkey Inc Obligated Group<sup>†(c)</sup> | 5.00% | 7/1/2049 | NR | 6000000 | 4200000 |
| Industrial Development Authority of the County of Pima - Edkey Inc Obligated Group<sup>†(c)</sup> | 5.00% | 7/1/2055 | NR | 4000000 | 2800000 |
| Jefferson Parish Economic Development & Port District - Kenner Discovery Health Science Foundation Inc LA<sup>†</sup> | 5.50% | 6/15/2038 | NR | 3200000 | 3165987 |
| Jefferson Parish Economic Development & Port District - Kenner Discovery Health Science Foundation Inc LA<sup>†</sup> | 5.625% | 6/15/2048 | NR | 4350000 | 4127067 |
| Maryland Economic Development Corp.<sup>(c)</sup> | 5.00% | 12/1/2031 | NR | 10700000 | 7169000 |
| Maryland Economic Development Corp.<sup>(c)</sup> | 5.25% | 12/1/2031 | NR | 3000000 | 2010000 |
| Michigan Finance Authority - Bradford Academy | 4.30% | 9/1/2030 | NR | 755000 | 706699 |
| Michigan Finance Authority - Bradford Academy | 4.80% | 9/1/2040 | NR | 1845000 | 1514567 |
| Michigan Finance Authority - Bradford Academy | 5.00% | 9/1/2050 | NR | 3010000 | 2303783 |
| Michigan Public Educational Facilities Authority - Crescent Academy | 7.00% | 10/1/2036 | NR | 572500 | 572744 |
| Plymouth Educational Center Charter School MI | 5.375% | 11/1/2030 | NR | 1425000 | 712500 |
| Public Finance Authority - Inperium Inc Obligated Group WI<sup>†</sup> | 5.50% | 12/1/2044 | NR | 2500000 | 2486764 |
| Public Finance Authority - Inperium Inc Obligated Group WI<sup>†</sup> | 5.75% | 12/1/2054 | NR | 12000000 | 11908793 |
| Utah Charter School Finance Authority - Freedom Academy Foundation<sup>†</sup> | 5.375% | 6/15/2048 | NR | 5150000 | 4524677 |
| Washington State Convention Center Public Facilities District | 3.00% | 7/1/2043 | Baa1 | 4375000 | 3279267 |
| Washington State Convention Center Public Facilities District | 3.00% | 7/1/2058 | Baa1 | 2400000 | 1480879 |

---

<br> 126 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Other Revenue (continued)** |  |  |  |  |  |
| Washington State Convention Center Public Facilities District | 4.00% | 7/1/2058 | Baa1 | $6000000 | $4577276 |
| *Total* |  |  |  |  | 178387710 |
| **Special Tax 3.52%** |  |  |  |  |  |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 6.00% | 5/1/2042 | NR | 10620000 | 10890349 |
| Arborwood Community Development District FL | 6.90% | 5/1/2036 | NR | 545000 | 545261 |
| Arborwood Community Development District FL | 6.90% | 5/1/2036 | NR | 25000 | 25008 |
| Babcock Ranch Community Independent Special District FL | 5.00% | 5/1/2053 | NR | 4000000 | 3741149 |
| Babcock Ranch Community Independent Special District Series 2024 Assessment Area FL<sup>†</sup> | 5.00% | 5/1/2044 | NR | 1375000 | 1306175 |
| Babcock Ranch Community Independent Special District Series 2024 Assessment Area FL<sup>†</sup> | 5.25% | 5/1/2055 | NR | 2000000 | 1888305 |
| Black Desert Public Infrastructure District Black Desert Assessment Area No 1 UT<sup>†</sup> | 5.625% | 12/1/2053 | NR | 15435000 | 15290166 |
| Celebration Pointe Community Development District No. 1 FL<sup>(c)</sup> | 3.375% | 5/1/2041 | NR | 3970000 | 3176000 |
| Celebration Pointe Community Development District No. 1 FL<sup>(c)</sup> | 5.00% | 5/1/2048 | NR | 6555000 | 5244000 |
| County of Denton Green Meadows Public Improvement District Impt Area #1 TX<sup>†</sup> | 5.625% | 12/31/2055 | NR | 2725000 | 2751861 |
| County of Denton Green Meadows Public Improvement District Major Impt Area TX<sup>†</sup> | 5.875% | 12/31/2045 | NR | 2500000 | 2519454 |
| County of Denton Green Meadows Public Improvement District Major Impt Area TX<sup>†</sup> | 6.125% | 12/31/2055 | NR | 3100000 | 3125024 |
| Fairfield Community Facilities District - City of Fairfield CA Community Facilities District No 2023-1 Area No 1 CA | 5.00% | 9/1/2049 | NR | 4205000 | 4184848 |
| Grandview Industrial Development Authority MO Tax Allocation<sup>(c)</sup> | 5.75% | 12/1/2028 | NR | 1000000 | 640000 |
| Industrial Development Authority of the City of St. Louis Missouri | 4.375% | 11/15/2035 | NR | 3585000 | 3252491 |
| Industrial Development Authority of the City of St. Louis Missouri | 4.75% | 11/15/2047 | NR | 11095000 | 9447162 |
| Inland Valley Development Agency CA Tax Allocation | 5.25% | 9/1/2037 | A+ | 3375000 | 3401886 |

---

<br> *See Notes to Schedule of Investments.* 127

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Special Tax (continued)** |  |  |  |  |  |
| Lakewood Ranch Stewardship District FL | 6.30% | 5/1/2054 | NR | $4450000 | $4588887 |
| Mida Mountain Village Public Infrastructure District - Mountain Village Assessment Area No 2 UT<sup>†</sup> | 4.00% | 8/1/2050 | NR | 7845000 | 6455240 |
| Mida Mountain Village Public Infrastructure District UT<sup>†</sup> | 5.00% | 8/1/2050 | NR | 3500000 | 3281952 |
| Military Installation Development Authority UT | 4.00% | 6/1/2052 | NR | 10000000 | 7950180 |
| New York City Transitional Finance Authority<sup>(d)</sup> | 5.50% | 5/1/2052 | AAA | 11600000 | 12317689 |
| Peninsula Town Center Community Development Authority VA<sup>†</sup> | 5.00% | 9/1/2037 | NR | 875000 | 876721 |
| Peninsula Town Center Community Development Authority VA<sup>†</sup> | 5.00% | 9/1/2045 | NR | 6350000 | 6004424 |
| Rocky Mountain Rail Park Metropolitan District CO GO<sup>†</sup> | 5.00% | 12/1/2041 | NR | 2000000 | 1888274 |
| Rocky Mountain Rail Park Metropolitan District CO GO<sup>†</sup> | 5.00% | 12/1/2051 | NR | 7020000 | 6252517 |
| Stone Canyon Community Improvement District MO<sup>(c)</sup> | 5.70% | 4/1/2022 | NR | 1485000 | 311850 |
| Tern Bay Community Development District FL | 5.375% | 5/1/2037 | NR | 330000 | 330198 |
| Town of Bridgeville - Heritage Shores Special Development District DE<sup>†</sup> | 5.625% | 7/1/2053 | NR | 3050000 | 3053662 |
| Village Metropolitan District CO GO | 5.00% | 12/1/2040 | NR | 2000000 | 1972135 |
| Village Metropolitan District CO GO | 5.00% | 12/1/2049 | NR | 4085000 | 3894228 |
| Westview South Community Development District FL | 5.375% | 5/1/2043 | NR | 1360000 | 1344277 |
| Westview South Community Development District FL | 5.375% | 5/1/2043 | NR | 1000000 | 988439 |
| Westview South Community Development District FL | 5.60% | 5/1/2053 | NR | 2040000 | 2007578 |
| Westview South Community Development District FL | 5.625% | 5/1/2053 | NR | 995000 | 989496 |
| Wolf Creek Infrastructure Financing District No. 1 Wolf Creek Assessment Area 1 UT | 5.75% | 12/1/2044 | NR | 6265000 | 6182188 |
| *Total* |  |  |  |  | 142119074 |
| **Tax Revenue 4.08%** |  |  |  |  |  |
| American Samoa Economic Development Authority<sup>†</sup> | 6.50% | 9/1/2028 | Ba3 | 2285000 | 2377500 |

---

<br> 128 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tax Revenue (continued)** |  |  |  |  |  |
| City of Reno - County of Washoe NV Sales Tax Revenue NV<sup>†</sup> | Zero Coupon | 7/1/2058 | NR | $23000000 | $3436554 |
| City of Reno - County of Washoe NV Sales Tax Revenue NV<sup>†</sup> | Zero Coupon | 7/1/2058 | NR | 18500000 | 2126723 |
| City of Sparks NV<sup>†</sup> | 2.75% | 6/15/2028 | Baa2 | 200000 | 195344 |
| County of Monongalia - Monongalia County Building Commission Development District No 4 WV Tax Allocation<sup>†</sup> | 5.00% | 6/1/2033 | NR | 395000 | 407800 |
| County of Monongalia - Monongalia County Building Commission Development District No 4 WV Tax Allocation<sup>†</sup> | 5.75% | 6/1/2043 | NR | 875000 | 901054 |
| County of Monongalia - Monongalia County Building Commission Development District No 4 WV Tax Allocation<sup>†</sup> | 6.00% | 6/1/2053 | NR | 1535000 | 1581145 |
| Dallas Area Rapid Transit TX | 3.00% | 12/1/2047 | AA+ | 5000000 | 3571649 |
| Downtown Revitalization Public Infrastructure District - City of Salt Lake City UT Revitalization Sales Tax Revenue UT (AG) | 5.50% | 6/1/2055 | AA | 6760000 | 7096902 |
| Downtown Revitalization Public Infrastructure District - City of Salt Lake City UT Revitalization Sales Tax Revenue UT (AG) | 5.50% | 6/1/2055 | AA | 4500000 | 4702646 |
| Metropolitan Pier & Exposition Authority IL (NATL) | Zero Coupon | 12/15/2037 | A | 10000000 | 5694905 |
| Mida Mountain Village Public Infrastructure District - Military Installation Development Auth Military Recreation Fac Project Area UT Tax Allocation<sup>†</sup> | 5.75% | 6/15/2044 | NR | 860000 | 859301 |
| Mida Mountain Village Public Infrastructure District - Military Installation Development Auth Military Recreation Fac Project Area UT Tax Allocation<sup>†</sup> | 6.00% | 6/15/2054 | NR | 4035000 | 4059039 |
| New York Liberty Development Corp. TCRS (BAM) | 3.00% | 2/15/2042 | AA | 4115000 | 3223012 |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue | 3.00% | 3/15/2049 | Aa1 | 2505000 | 1792273 |

---

<br> *See Notes to Schedule of Investments.* 129

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tax Revenue (continued)** |  |  |  |  |  |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue<sup>(d)</sup> | 5.25% | 3/15/2052 | Aa1 | $12610000 | $13046102 |
| Public Finance Authority - Southeast Overtown Park West Community Redevelopment Agency WI Tax Allocation<sup>†</sup> | 5.00% | 6/1/2041 | NR | 4500000 | 4466105 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon | 7/1/2033 | NR | 3965000 | 2824998 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 15225000 | 14301388 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 124000 | 116478 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.75% | 7/1/2053 | NR | 44706000 | 41162263 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 5.00% | 7/1/2058 | NR | 44960000 | 42334053 |
| Washington State Convention Center Public Facilities District | 3.00% | 7/1/2048 | Baa1 | 6710000 | 4595651 |
| *Total* |  |  |  |  | 164872885 |
| **Taxable Revenue - Water & Sewer 0.57%** |  |  |  |  |  |
| City of Chicago IL Waterworks Revenue<sup>(d)</sup> | 5.50% | 11/1/2062 | AA | 20290000 | 20886169 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 4.00% | 7/1/2047 | NR | 2500000 | 2050474 |
| *Total* |  |  |  |  | 22936643 |
| **Tobacco 6.67%** |  |  |  |  |  |
| Buckeye Tobacco Settlement Financing Authority OH | 5.00% | 6/1/2055 | NR | 102230000 | 87278096 |
| California Statewide Financing Authority | Zero Coupon | 6/1/2046 | NR | 26325000 | 6460861 |
| California Statewide Financing Authority<sup>†</sup> | Zero Coupon | 6/1/2055 | NR | 42500000 | 2510704 |
| District of Columbia Tobacco Settlement Financing Corp. | Zero Coupon | 6/15/2046 | NR | 4780000 | 1013538 |
| District of Columbia Tobacco Settlement Financing Corp. | Zero Coupon | 6/15/2055 | NR | 21000000 | 2038165 |
| District of Columbia Tobacco Settlement Financing Corp. | Zero Coupon | 6/15/2055 | NR | 100000000 | 8650020 |
| Erie Tobacco Asset Securitization Corp. NY<sup>†</sup> | Zero Coupon | 6/1/2060 | NR | 30000000 | 1177254 |

---

<br> 130 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tobacco (continued)** |  |  |  |  |  |
| Golden State Tobacco Securitization Corp. CA | Zero Coupon | 6/1/2066 | NR | $240775000 | $25532287 |
| Inland Empire Tobacco Securitization Corp. - Inland Empire Tobacco Securitization Corp CA | Zero Coupon | 6/1/2036 | CCC | 19000000 | 8549979 |
| Inland Empire Tobacco Securitization Corp. CA<sup>†</sup> | Zero Coupon | 6/1/2057 | CCC | 47000000 | 2847702 |
| Michigan Tobacco Settlement Finance Authority | Zero Coupon | 6/1/2058 | NR | 93300000 | 2579885 |
| Monroe Tobacco Asset Securitization Corp. NY<sup>†</sup> | Zero Coupon | 6/1/2061 | NR | 22900000 | 974738 |
| Nassau County Tobacco Settlement Corp. NY | Zero Coupon | 6/1/2060 | NR | 50000000 | 2848850 |
| Nassau County Tobacco Settlement Corp. NY | 5.00% | 6/1/2035 | CCC+ | 3170000 | 2855433 |
| Nassau County Tobacco Settlement Corp. NY | 5.25% | 6/1/2026 | CCC+ | 3218190 | 3169926 |
| Rockland Tobacco Asset Securitization Corp. NY<sup>†</sup> | Zero Coupon | 8/15/2060 | NR | 41035000 | 2871079 |
| Silicon Valley Tobacco Securitization Authority CA | Zero Coupon | 6/1/2036 | NR | 10000000 | 5423704 |
| Silicon Valley Tobacco Securitization Authority CA | Zero Coupon | 6/1/2041 | NR | 8000000 | 2837210 |
| Silicon Valley Tobacco Securitization Authority CA | Zero Coupon | 6/1/2056 | NR | 20000000 | 1748910 |
| Tobacco Securitization Authority of Southern California - San Diego County Tobacco Asset Securitization Corp | Zero Coupon | 6/1/2046 | CCC- | 10000000 | 1907446 |
| Tobacco Securitization Authority of Southern California - San Diego County Tobacco Asset Securitization Corp | Zero Coupon | 6/1/2046 | CCC- | 10000000 | 2380953 |
| Tobacco Settlement Financing Corp. RI | Zero Coupon | 6/1/2052 | CCC- | 15885000 | 2757695 |
| Tobacco Settlement Financing Corp. VA | Zero Coupon | 6/1/2047 | CCC- | 9500000 | 2353107 |
| Tobacco Settlement Financing Corp. VA | Zero Coupon | 6/1/2047 | CCC- | 110695000 | 28007119 |
| Tobacco Settlement Financing Corp. VA | 5.00% | 6/1/2047 | B- | 42235000 | 36703330 |

---

<br> *See Notes to Schedule of Investments.* 131

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tobacco (continued)** |  |  |  |  |  |  |
| TSASC, Inc. NY | 5.00% |  | 6/1/2045 | CCC+ | $9670000 | $8523660 |
| TSASC, Inc. NY | 5.00% |  | 6/1/2048 | NR | 17835000 | 15568409 |
| *Total* |  |  |  |  |  | 269570060 |
| **Transportation 11.15%** |  |  |  |  |  |  |
| Build NYC Resource Corp. - TRIPS Obligated Group NY AMT | 5.50% |  | 7/1/2055 | BBB+ | 4875000 | 4938539 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 4.00% |  | 12/31/2047 | BB+ <sup>(b)</sup> | 5475000 | 4560240 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% |  | 12/31/2043 | BB+ <sup>(b)</sup> | 3445000 | 3367274 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.00% |  | 7/15/2028 | BB | 3500000 | 3519255 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.50% |  | 7/15/2038 | Ba3 | 4250000 | 4374889 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.50% |  | 7/15/2039 | Ba3 | 4700000 | 4810756 |
| City of Salt Lake City Airport Revenue UT AMT | 5.50% |  | 7/1/2053 | A+ | 2500000 | 2573927 |
| E-470 Public Highway Authority CO (NATL) | Zero Coupon |  | 9/1/2031 | A+ | 20000000 | 16368534 |
| Florida Development Finance Corp. - AAF Operations Holdings LLC AMT<sup>†</sup> | 10.00% | <sup>#(a)</sup> | 7/15/2059 | NR | 9000000 | 8570369 |
| Florida Development Finance Corp. - AAF Operations Holdings LLC AMT<sup>†</sup> | 12.00% | <sup>#(a)</sup> | 7/15/2032 | NR | 16500000 | 16417500 |
| Foothill-Eastern Transportation Corridor Agency CA | 3.95% |  | 1/15/2053 | A | 6235000 | 5373330 |
| Foothill-Eastern Transportation Corridor Agency CA (AGM-CR) | 3.50% |  | 1/15/2053 | AA | 5280000 | 4274529 |
| Greater Asheville Regional Airport Authority NC (AG) AMT | 5.25% |  | 7/1/2048 | AA | 1250000 | 1268651 |
| Greater Orlando Aviation Authority FL AMT | 4.00% |  | 10/1/2049 | AA | 6370000 | 5469031 |
| Louisiana Public Facilities Authority - Calcasieu Bridge Partners LLC AMT | 5.75% |  | 9/1/2064 | Baa3 | 20905000 | 21533189 |
| Maryland Economic Development Corp. - City of Baltimore Port Covington Development District Tax Allocation | 4.00% |  | 9/1/2050 | NR | 10000000 | 8057188 |
| Maryland Economic Development Corp. - Purple Line Transit Partners LLC AMT | 5.25% |  | 6/30/2047 | Baa3 | 2500000 | 2487918 |
| Maryland Economic Development Corp. - Purple Line Transit Partners LLC AMT | 5.25% |  | 6/30/2055 | Baa3 | 15610000 | 15309122 |

---

<br> 132 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |
| Metropolitan Nashville Airport Authority TN AMT | 5.50% | 7/1/2052 | A1 | $9400000 | $9600442 |
| Metropolitan Transportation Authority NY<sup>(d)</sup> | 4.75% | 11/15/2045 | A2 | 14710000 | 14337423 |
| Metropolitan Transportation Authority NY<sup>(d)</sup> | 5.25% | 11/15/2055 | A2 | 7000000 | 7047307 |
| Metropolitan Transportation Authority NY | 5.50% | 11/15/2047 | A2 | 7500000 | 7849081 |
| New Jersey Economic Development Authority - DRP Urban Renewal 4 LLC AMT<sup>†</sup> | 6.625% | 1/1/2045 | NR | 8750000 | 8938151 |
| New York City Transitional Development Corp. - JFK NTO LLC NY AMT | 5.375% | 6/30/2060 | Baa3 | 34340000 | 33727811 |
| New York City Transitional Development Corp. - JFK NTO LLC NY AMT | 6.00% | 6/30/2054 | Baa3 | 21500000 | 22220964 |
| New York State Thruway Authority TCRS (BAM) | 3.00% | 1/1/2051 | AA | 5365000 | 3759832 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% | 10/1/2040 | Baa2 | 8480000 | 8443543 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.625% | 4/1/2040 | Baa2 | 13000000 | 13367896 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 6.00% | 4/1/2035 | Baa2 | 9000000 | 9795307 |
| New York Transportation Development Corp. - JFK Millennium Partners LLC AMT | 5.50% | 12/31/2060 | BBB- | 82500000 | 82559433 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.50% | 6/30/2060 | Baa3 | 23185000 | 23199551 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 4.00% | 7/1/2041 | Baa2 | 5000000 | 4428407 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 5.25% | 1/1/2050 | Baa2 | 8730000 | 8613178 |
| North Parkway Municipal Management District No. 1 TX<sup>†</sup> | 4.75% | 9/15/2041 | NR | 2930000 | 2733031 |
| Oklahoma Turnpike Authority<sup>(d)</sup> | 5.50% | 1/1/2054 | Aa3 | 5270000 | 5594276 |
| Oklahoma Turnpike Authority<sup>(d)</sup> | 5.50% | 1/1/2054 | Aa3 | 12500000 | 13269868 |
| Pennsylvania Turnpike Commission Oil Franchise Tax Revenue | 3.00% | 12/1/2051 | Aa3 | 5375000 | 3762200 |
| Port Authority of New York & New Jersey AMT | 5.25% | 8/1/2047 | AA- | 5000000 | 5079689 |
| Port Authority of New York & New Jersey AMT | 5.50% | 8/1/2052 | AA- | 3500000 | 3604281 |
| Port of Portland Airport Revenue OR AMT | 5.50% | 7/1/2048 | AA- | 6250000 | 6474306 |

---

<br> *See Notes to Schedule of Investments.* 133

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| Public Finance Authority - Million Air Three Obligated Group WI<sup>†</sup> | 9.75% |  | 9/1/2054 | NR | $5810000 | $6086185 |
| Public Finance Authority - Million Air Three Obligated Group WI AMT<sup>†</sup> | 6.25% |  | 9/1/2046 | NR | 1500000 | 1519766 |
| Texas Private Activity Bond Surface Transportation Corp. - NTE Mobility Partners LLC AMT | 5.50% |  | 12/31/2058 | Baa1 | 5000000 | 5129569 |
| Virginia Small Business Financing Authority - 95 Express Lanes LLC AMT | 4.00% |  | 1/1/2048 | BBB | 7205000 | 5973123 |
| *Total* |  |  |  |  |  | 450388861 |
| **Utilities 5.12%** |  |  |  |  |  |  |
| Black Belt Energy Gas District AL | 5.25% | <sup>#(a)</sup> | 5/1/2055 | A1 | 6250000 | 6502906 |
| Black Belt Energy Gas District AL | 5.50% | <sup>#(a)</sup> | 6/1/2049 | A2 | 9450000 | 9970742 |
| Black Belt Energy Gas District AL | 5.50% | <sup>#(a)</sup> | 11/1/2053 | A2 | 16335000 | 17170073 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 1/1/2055 | A1 | 3250000 | 3359636 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 1/1/2056 | A1 | 5000000 | 5164391 |
| California Community Choice Financing Authority<sup>(d)</sup> | 5.25% |  | 11/1/2054 | A2 | 14000000 | 14823668 |
| City of Baltimore MD<sup>(d)</sup> | 5.25% |  | 7/1/2047 | AA- | 7190000 | 7479412 |
| City of Baltimore MD<sup>(d)</sup> | 5.25% |  | 7/1/2052 | AA- | 12190000 | 12680672 |
| City of Compton Water Revenue CA | 6.00% |  | 8/1/2039 | NR | 3710000 | 3785089 |
| City of Osceola - Plum Point Energy Associates LLC AR AMT | 5.50% | <sup>#(a)</sup> | 4/1/2036 | NR | 16450000 | 16450819 |
| County of Jefferson Sewer Revenue AL | 5.25% |  | 10/1/2049 | BBB+ | 11125000 | 11257563 |
| County of Jefferson Sewer Revenue AL | 5.50% |  | 10/1/2053 | BBB+ | 11750000 | 12054772 |
| Energy Southeast A Cooperative District AL | 5.25% | <sup>#(a)</sup> | 7/1/2054 | A1 | 6000000 | 6422007 |
| Energy Southeast A Cooperative District AL | 5.75% | <sup>#(a)</sup> | 4/1/2054 | A1 | 7500000 | 8194433 |
| Florida Development Finance Corp. - Waste Pro USA Inc AMT<sup>†</sup> | 5.25% |  | 8/1/2029 | NR | 7000000 | 7214201 |
| Main Street Natural Gas, Inc. GA | 4.00% | <sup>#(a)</sup> | 9/1/2052 | A3 | 2165000 | 2175961 |
| Municipal Electric Authority of Georgia | 5.25% |  | 1/1/2049 | A2 | 3470000 | 3611354 |
| Municipal Electric Authority of Georgia (BAM) | 5.25% |  | 1/1/2054 | AA | 5000000 | 5187636 |
| Patriots Energy Group Financing Agency SC | 5.25% | <sup>#(a)</sup> | 10/1/2054 | A1 | 15000000 | 15862762 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 5.00% |  | 7/1/2035 | NR | 1500000 | 1541815 |

---

<br> 134 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |  |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> |  | 5.00% |  | 7/1/2047 | NR | $29000000 | $28180463 |
| South Carolina Public Service Authority |  | 5.50% |  | 12/1/2054 | A- | 2250000 | 2357824 |
| Southeast Energy Authority A Cooperative District AL |  | 5.50% | <sup>#(a)</sup> | 1/1/2053 | A1 | 5000000 | 5337453 |
| *Total* |  |  |  |  |  |  | 206785652 |
| *Total Municipal Bonds* (cost $4,236,806,558) |  |  |  |  |  |  | 4094640394 |
|  | **Interest**<br> **Rate**<sup>#</sup> | **Interest**<br> **Rate**<br> **Reset**<br> **Date**<sup>(f)</sup> |  | **Final<br> Maturity<br> Date** |  |  |  |
| **SHORT-TERM INVESTMENTS 1.51%** |  |  |  |  |  |  |  |
| **Variable Rate Demand Notes 1.51%** |  |  |  |  |  |  |  |
| **General Obligation 0.19%** |  |  |  |  |  |  |  |
| City of New York NY GO | 3.900% | 7/1/2025 |  | 4/1/2042 | AA | 5500000 | 5500000 |
| City of New York NY GO | 3.900% | 7/1/2025 |  | 10/1/2046 | AA | 2075000 | 2075000 |
| *Total* |  |  |  |  |  |  | 7575000 |
| **Pollution Control 0.02%** |  |  |  |  |  |  |  |
| Port of Port Arthur Navigation District - Motiva Enterprises LLC TX | 4.100% | 7/1/2025 |  | 4/1/2040 | BBB+ | 1000000 | 1000000 |
| **Transportation 0.98%** |  |  |  |  |  |  |  |
| Bay Area Toll Authority CA | 2.950% | 7/1/2025 |  | 4/1/2055 | AA+ | 39500000 | 39500000 |
| **Utilities 0.32%** |  |  |  |  |  |  |  |
| Development Authority of Appling County - Georgia Power Co | 4.050% | 7/1/2025 |  | 9/1/2041 | A | 10865000 | 10865000 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 4.000% | 7/1/2025 |  | 6/15/2050 | AA+ | 2000000 | 2000000 |
| *Total* |  |  |  |  |  |  | 12865000 |
| *Total Short-Term Investments* (cost $60,940,000) | *Total Short-Term Investments* (cost $60,940,000) |  |  |  |  |  | 60940000 |
| *Total Investments in Securities 102.93%* (cost $4,299,694,100) | *Total Investments in Securities 102.93%* (cost $4,299,694,100) |  |  |  |  |  | 4157555394 |
| *Other Assets and Liabilities – Net (2.93)%* |  |  |  |  |  |  | (118609536) |
| *Net Assets 100.00%* |  |  |  |  |  |  | $4038945858 |

---

<br> *See Notes to Schedule of Investments.* 135

**Schedule of Investments (unaudited)(concluded)**

HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | |
|:---|:---|
| AG | Insured by - Assured Guaranty, inc. |
| AMT | Income from the security may be subject to Alternative Minimum Tax. |
| BAM | Insured by - Build America Mutual. |
| COPS | Certificates of Participation. |
| CR | Custodian Receipt. |
| GTD | Guaranteed. |
| NATL | Insured by - National Public Finance Guarantee Corporation. |
| NR | Not Rated. |
| PSF | Permanent School Fund. |
| SIFMA | Insured by - Securities Industry and Financial Markets Association. |
| TCRS | Transferable Custodial Receipts. |
| TRIPS | Tax Refund Intercept Programs. |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At June 30, 2025, the total value of Rule 144A securities was $1,439,007,763, which represents 35.63% of net assets. |
| <sup>#</sup> | Variable rate security. The interest rate represents the rate in effect at June 30, 2025. |
| <sup>(a)</sup> | Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date. |
| <sup>(b)</sup> | This investment has been rated by Fitch IBCA. |
| <sup>(c)</sup> | Defaulted (non-income producing security). |
| <sup>(d)</sup> | Municipal Bonds Held in Trust – Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund acquired the residual interest certificates. These securities serve as collateral in a financing transaction. See Note to Financial Statements for details of Municipal Bonds Held in Trust. |
| <sup>(e)</sup> | Securities purchased on a when-issued basis. |
| <sup>(f)</sup> | The interest rate reset date shown represents the date in which the Fund has the right to sell a Variable Rate Demand Note ("VRDN") back to the issuer for Principal Amount. The interest rate on the VRDN is generally reset daily based on the SIFMA Municipal Swap Index. |

---

The following is a summary of the inputs used as of June 30, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | $– | $1975000 | $– | $1975000 |
| &nbsp;&nbsp;&nbsp;Municipal Bonds<sup>(3)</sup> |  | 4094640394 |  | 4094640394 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Variable Rate Demand Notes | – | 60940000 | – | 60940000 |
| Total | $– | $4157555394 | $– | $4157555394 |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

<sup>(3)</sup> Includes Municipal Bonds held in the Trust.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets. Management has determined not to provide a reconciliation as the balance of Level 3 investments was not considered to be material to the Fund's net assets at the beginning or end of the period.

136 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 97.92%** |  |  |  |  |  |  |
| **CORPORATE BONDS 0.08%** |  |  |  |  |  |  |
| **Health Care Services 0.08%** |  |  |  |  |  |  |
| Care New England Health System<br>(cost $1,460,656) | 5.50% |  | 9/1/2026 | BB- | $1500000 | $1481250 |
| **MUNICIPAL BONDS 97.84%** |  |  |  |  |  |  |
| **Airlines 0.29%** |  |  |  |  |  |  |
| New Jersey Economic Development Authority - Port Newark Container Terminal LLC AMT | 5.00% |  | 10/1/2026 | Baa2 | 2135000 | 2159162 |
| New Jersey Economic Development Authority - Port Newark Container Terminal LLC AMT | 5.00% |  | 10/1/2027 | Baa2 | 3440000 | 3515559 |
| *Total* |  |  |  |  |  | 5674721 |
| **Corporate-Backed 22.27%** |  |  |  |  |  |  |
| Allegheny County Industrial Development Authority - United States Steel Corp PA | 5.75% |  | 8/1/2042 | BB- | 495000 | 495061 |
| Arkansas Development Finance Authority - Hybar LLC AMT<sup>†</sup> | 6.875% |  | 7/1/2048 | NR | 1000000 | 1073899 |
| Avenir Community Development District FL | 4.50% |  | 5/1/2030 | NR | 1670000 | 1700512 |
| Baldwin County Industrial Development Authority - Novelis Corp AL AMT<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 6/1/2055 | BB | 19000000 | 19171084 |
| Boggy Creek Improvement District FL | 4.50% |  | 5/1/2033 | NR | 910000 | 924479 |
| Cabot Citrus Farms Community Development District FL | 5.25% |  | 3/1/2029 | NR | 7700000 | 7767377 |
| California Infrastructure & Economic Development Bank - Desertxpress Enterprises LLC AMT<sup>†</sup> | 9.50% | <sup>#(a)</sup> | 1/1/2065 | NR | 23500000 | 22282768 |
| Chandler Industrial Development Authority - Intel Corp AZ AMT | 4.00% | <sup>#(a)</sup> | 6/1/2049 | Baa1 | 10250000 | 10230528 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.00% |  | 7/15/2027 | BB <sup>(b)</sup> | 1000000 | 1004462 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.00% |  | 7/15/2028 | BB | 2850000 | 2865679 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.00% |  | 7/1/2029 | BB | 5930000 | 5930312 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 6.50% |  | 7/15/2030 | BB | 3435000 | 3444480 |
| City of Valparaiso - Pratt Paper LLC AMT IN<sup>†</sup> | 4.50% |  | 1/1/2034 | NR | 2525000 | 2553587 |

---

*See Notes to Schedule of Investments.* 137

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Crosswinds East Community Development District - Crosswinds East Community Development District Assessment Area One FL | 4.625% |  | 5/1/2031 | NR | $440000 | $445076 |
| Florida Development Finance Corp. - Waste pro USA Inc AMT<sup>†</sup> | 6.125% | <sup>#(a)</sup> | 7/1/2032 | NR | 8375000 | 8477193 |
| Florida Development Finance Corp. - Waste Pro USA Inc AMT<sup>†</sup> | 5.00% |  | 5/1/2029 | NR | 5730000 | 5787328 |
| Gas Worx Community Development District - Gas Worx Community Development District Series 2025 Special Assessments FL<sup>†</sup> | 5.00% |  | 5/1/2036 | NR | 615000 | 620201 |
| Grapevine Wash Local District - Grapevine Wash Local District Assessment Area No 1 UT<sup>†</sup> | 5.25% |  | 12/1/2044 | NR | 6000000 | 5628543 |
| Greater Orlando Aviation Authority - JetBlue Airways Corp FL | 5.00% |  | 11/15/2026 | NR | 2600000 | 2600062 |
| Hobe-St Lucie Conservancy District Unit of Development No 1A FL | 4.75% |  | 5/1/2031 | NR | 1700000 | 1741380 |
| Hoover Industrial Development Board - United States Steel Corp AL AMT | 6.375% | <sup>#(a)</sup> | 11/1/2050 | BB- | 1570000 | 1726144 |
| Illinois Finance Authority - LRS Holdings LLC AMT<sup>†</sup> | 7.375% | <sup>#(a)</sup> | 9/1/2042 | NR | 7000000 | 7730058 |
| Indiana Finance Authority - United States Steel Corp | 4.125% |  | 12/1/2026 | BB- | 1990000 | 1996833 |
| Industrial Development Board of The City of Kingsport Tennessee - Domtar Paper Co LLC TN AMT<sup>†</sup> | 5.25% | <sup>#(a)</sup> | 12/1/2054 | B1 | 6700000 | 6670197 |
| Iowa Finance Authority - Howmet Aerospace Inc | 4.75% |  | 8/1/2042 | Baa1 | 24750000 | 23850790 |
| Iowa Finance Authority - Iowa Fertilizer Co LLC | 4.00% | <sup>#(a)</sup> | 12/1/2050 | AA+ | 8370000 | 8939250 |
| Jefferson County Port Authority - JSW Steel USA Ohio Inc OH<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 12/1/2053 | Ba1 | 15130000 | 15158985 |
| Love Field Airport Modernization Corp. - Southwest Airlines Co TX | 5.00% |  | 11/1/2028 | BBB | 4540000 | 4540636 |
| Michigan Strategic Fund - Graphic Packaging International LLC AMT | 4.00% | <sup>#(a)</sup> | 10/1/2061 | BB | 3635000 | 3615116 |
| Mission Economic Development Corp. - Natgasoline LLC TX AMT<sup>†</sup> | 4.625% |  | 10/1/2031 | BB- | 23250000 | 23287237 |
| Mississippi Business Finance Corp. - Huntington Ingalls Industries Inc | 4.55% |  | 12/1/2028 | BBB- | 2205000 | 2205399 |

---

138 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Montgomery County Industrial Development Authority - Constellation Energy Generation PA AMT | 4.45% | <sup>#(a)</sup> | 10/1/2034 | BBB+ | $7500000 | $7698879 |
| New Hampshire Business Finance Authority - Covanta Holding Corp AMT<sup>†</sup> | 4.00% |  | 11/1/2027 | B | 4730000 | 4729242 |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC AMT | 5.50% |  | 1/1/2026 | A- | 500000 | 500657 |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC AMT | 5.50% |  | 1/1/2027 | A- | 1000000 | 1001516 |
| New Jersey Economic Development Authority - United Airlines Inc | 5.25% |  | 9/15/2029 | BB | 7210000 | 7212520 |
| New Jersey Economic Development Authority - United Airlines Inc | 5.75% |  | 9/15/2027 | BB | 5795000 | 5799741 |
| New York City Industrial Development Agency - TRIPS Obligated Group NY | 5.00% |  | 7/1/2028 | BBB+ | 555000 | 555055 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 5.00% |  | 11/15/2044 | NR | 15000000 | 14685769 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 5.15% |  | 11/15/2034 | NR | 8660000 | 8660612 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 7.25% |  | 11/15/2044 | NR | 1000000 | 1000647 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT | 2.75% | <sup>#(a)</sup> | 9/1/2050 | B+ | 2700000 | 2689205 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT<sup>†</sup> | 2.875% | <sup>#(a)</sup> | 12/1/2044 | B+ | 1000000 | 938362 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT<sup>†</sup> | 3.125% | <sup>#(a)</sup> | 12/1/2044 | B+ | 4500000 | 4447926 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT<sup>†</sup> | 5.125% | <sup>#(a)</sup> | 9/1/2050 | B+ | 1000000 | 1029345 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.00% |  | 8/1/2026 | B+ | 4035000 | 4035100 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.00% |  | 8/1/2031 | B+ | 16400000 | 16400198 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.375% |  | 8/1/2036 | B+ | 5500000 | 5611099 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% |  | 1/1/2027 | Baa2 | 5455000 | 5536278 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 4.00% |  | 12/1/2038 | Baa1 | 1790000 | 1631377 |

---

*See Notes to Schedule of Investments.* 139

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Niagara Area Development Corp. - Reworld Holding Corp NY AMT<sup>†</sup> | 4.75% |  | 11/1/2042 | B | $5000000 | $4536066 |
| Normandy Community Development District Assessment Area One FL<sup>†</sup> | 4.625% |  | 5/1/2031 | NR | 525000 | 526023 |
| Ohio Air Quality Development Authority - Pratt Paper Inc AMT<sup>†</sup> | 4.25% |  | 1/15/2038 | NR | 8045000 | 7742028 |
| Parish of St. James - NuStar Logistics LP LA<sup>†</sup> | 6.10% | <sup>#(a)</sup> | 6/1/2038 | BB+ | 7095000 | 7561557 |
| Pennsylvania Economic Development Financing Authority - Core Natural Resources Inc AMT<sup>†</sup> | 5.45% | <sup>#(a)</sup> | 1/1/2051 | B3 | 11770000 | 12022953 |
| Pennsylvania Economic Development Financing Authority - Covanta Holding Corp AMT<sup>†</sup> | 3.25% |  | 8/1/2039 | B | 6000000 | 4793005 |
| Phenix City Industrial Development Board - WestRock Coated Board LLC AL AMT | 4.125% |  | 5/15/2035 | BBB | 10050000 | 9647607 |
| Polk County Industrial Development Authority - Mineral Development LLC FL<sup>†(c)</sup> | 5.875% |  | 1/1/2033 | NR | 1310000 | 759800 |
| Port of Beaumont Navigation District - Jefferson 2020 Bond Lessee & Borrower LLC Obligated Group TX AMT<sup>†</sup> | 5.125% |  | 1/1/2044 | NR | 1000000 | 934703 |
| Port of Seattle Industrial Development Corp. - Delta Air Lines Inc WA AMT | 5.00% |  | 4/1/2030 | BBB- | 3350000 | 3349929 |
| Public Finance Authority - Celanese US Holdings LLC WI AMT | 4.30% |  | 11/1/2030 | BB+ | 1935000 | 1927275 |
| Public Finance Authority - Celanese US Holdings LLC WI AMT | 5.00% |  | 12/1/2025 | BB+ | 11515000 | 11533453 |
| Public Finance Authority - Sky Harbour Capital LLC Obligated Group WI AMT | 4.00% |  | 7/1/2036 | NR | 12030000 | 11333348 |
| Public Finance Authority - Sky Harbour Capital LLC Obligated Group WI AMT | 4.00% |  | 7/1/2041 | NR | 1600000 | 1383714 |
| Public Finance Authority - TRIPS Obligated Group WI AMT | 5.25% |  | 7/1/2028 | BBB+ | 1600000 | 1601299 |
| Public Finance Authority WI<sup>†</sup> | 5.375% |  | 12/15/2032 | NR | 2884000 | 2883942 |
| Southwestern Illinois Development Authority - United States Street Corp | 5.75% |  | 8/1/2042 | BB- | 10000000 | 10001235 |
| Spring Valley Community Infrastructure District No. 1 Assessment Area One ID<sup>†</sup> | 3.75% |  | 9/1/2051 | NR | 5360000 | 4813148 |
| State of Nevada Department of Business & Industry - Desertxpress Enterprises LLC AMT<sup>†</sup> | 9.50% | <sup>#(a)</sup> | 1/1/2065 | NR | 6000000 | 5685000 |

---

140 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |  |
| Tulsa Airports Improvement Trust - American Airlines Inc OK AMT | 5.50% |  | 6/1/2035 | NR | $2875000 | $2875065 |
| Tulsa Municipal Airport Trust Trustees - American Airlines Inc OK AMT | 6.25% |  | 12/1/2035 | B+ | 8175000 | 9037686 |
| Tuscaloosa County Industrial Development Authority - Hunt Refining Co AL<sup>†</sup> | 5.25% |  | 5/1/2044 | NR | 12400000 | 12271868 |
| Vermont Economic Development Authority - Casella Waste Systems Inc AMT<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 6/1/2052 | B+ | 6000000 | 6062630 |
| Village Community Development District No. 15 FL<sup>†</sup> | 4.25% |  | 5/1/2028 | NR | 770000 | 778021 |
| Village Community Development District No. 15 FL<sup>†</sup> | 4.375% |  | 5/1/2033 | NR | 1480000 | 1504432 |
| West Virginia Economic Development Authority - Core Natural Resources Inc AMT<sup>†</sup> | 5.45% | <sup>#(a)</sup> | 1/1/2055 | NR | 2000000 | 2041334 |
| West Virginia Economic Development Authority - Kentucky Power Co AMT | 4.70% | <sup>#(a)</sup> | 4/1/2036 | BBB | 3225000 | 3241928 |
| *Total* |  |  |  |  |  | 439477233 |
| **Education 8.22%** |  |  |  |  |  |  |
| Arizona Industrial Development Authority - BASIS Schools Inc Obligated Group<sup>†</sup> | 5.125% |  | 7/1/2037 | BB | 970000 | 972262 |
| Arizona Industrial Development Authority - Odyssey Preparatory Academy Inc<sup>†</sup> | 4.00% |  | 7/1/2029 | BB- | 305000 | 301091 |
| Arlington Higher Education Finance Corp. - BASIS Texas Charter Schools Inc TX<sup>†</sup> | 4.125% |  | 6/15/2034 | Ba2 | 1540000 | 1511244 |
| Arlington Higher Education Finance Corp. - BASIS Texas Charter Schools Inc TX<sup>†</sup> | 4.25% |  | 6/15/2039 | Ba2 | 1075000 | 1001946 |
| California Community Choice Financing Authority | 4.621%<br>(SOFR \* .67 + 1.70% |)<sup>#</sup> | 5/1/2053 | A1 | 10000000 | 10038268 |
| California Municipal Finance Authority - SDORI Charter School Properties LLC<sup>†</sup> | 5.00% |  | 3/1/2027 | B+ | 1150000 | 1138659 |
| California Municipal Finance Authority - Westside Neighborhood School<sup>†</sup> | 5.00% |  | 6/15/2034 | BB | 915000 | 950933 |
| California Municipal Finance Authority - Westside Neighborhood School<sup>†</sup> | 5.50% |  | 6/15/2039 | BB | 900000 | 931065 |
| Capital Trust Agency, Inc. - Renaissance Charter School Inc Series 2019 Obligated Group FL<sup>†</sup> | 4.00% |  | 6/15/2029 | NR | 590000 | 574045 |

---

*See Notes to Schedule of Investments.* 141

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| Capital Trust Authority - Kipp Miami Obligated Group FL<sup>†</sup> | 5.00% | 6/15/2034 | BB | $610000 | $625135 |
| Chester County Health & Education Facilities Authority - Immaculata University PA | 4.25% | 11/1/2032 | BB- <sup>(b)</sup> | 1855000 | 1676245 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL | 5.25% | 4/1/2033 | A <sup>(b)</sup> | 1260000 | 1381239 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL | 5.75% | 4/1/2033 | A <sup>(b)</sup> | 5000000 | 5156056 |
| Chicago Board of Education Dedicated Capital Improvement Tax IL | 6.10% | 4/1/2036 | A <sup>(b)</sup> | 5100000 | 5260980 |
| Chicago Board of Education IL GO | 5.00% | 12/1/2033 | BB+ | 1510000 | 1510019 |
| Chicago Board of Education IL GO | 5.00% | 12/1/2034 | BB+ | 7625000 | 7621110 |
| Chicago Board of Education IL GO | 5.00% | 12/1/2034 | BB+ | 5885000 | 5881998 |
| Chicago Board of Education IL GO | 5.125% | 12/1/2032 | BB+ | 4605000 | 4605947 |
| Clarksville Public Educational Facilities Board - University of the Ozarks AR | 5.50% | 8/1/2039 | NR | 580000 | 581629 |
| Cleveland-Cuyahoga County Port Authority OH<sup>†</sup> | 5.25% | 1/1/2034 | NR | 850000 | 859093 |
| Cleveland-Cuyahoga County Port Authority OH<sup>†</sup> | 5.375% | 1/1/2039 | NR | 850000 | 838103 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 4.625% | 8/15/2025 | NR | 685000 | 686241 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 5.75% | 8/15/2033 | Baa3 | 3025000 | 3034575 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 5.75% | 8/15/2038 | NR | 1405000 | 1409447 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 6.00% | 8/15/2038 | Baa3 | 3000000 | 3010286 |
| Colorado Educational & Cultural Facilities Authority<sup>†</sup> | 4.75% | 4/1/2034 | BB | 4290000 | 4344183 |
| County of Frederick - Mount St Mary's University Inc MD<sup>†</sup> | 5.00% | 9/1/2032 | BB+ | 3150000 | 3157053 |
| Development Authority Of The City Of Marietta - Life University Inc GA<sup>†</sup> | 5.00% | 11/1/2037 | Ba3 | 4000000 | 3813165 |
| Florida Development Finance Corp. - Renaissance Charter School Inc<sup>†</sup> | 6.00% | 6/15/2033 | NR | 1830000 | 1970261 |
| Florida Higher Educational Facilities Financial Authority - Jacksonville University<sup>†</sup> | 4.50% | 6/1/2033 | NR | 3615000 | 3409042 |
| Florida Higher Educational Facilities Financial Authority - Jacksonville University<sup>†</sup> | 4.75% | 6/1/2038 | NR | 1450000 | 1292257 |

---

142 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| Florida Higher Educational Facilities Financing Authority - Keiser University Obligated Group<sup>†(d)</sup> | 5.00% | 7/1/2035 | BB+ | $22830000 | $22806168 |
| Industrial Development Authority of the City of Phoenix Arizona - BASIS Schools Inc Obligated Group AZ<sup>†</sup> | 5.00% | 7/1/2035 | BB | 2125000 | 2125477 |
| Iowa Higher Education Loan Authority - University of Dubuque | 5.00% | 10/1/2033 | BBB- | 1855000 | 1957385 |
| Louisiana Public Facilities Authority - Acadiana Renaissance Charter Academy<sup>†</sup> | 5.00% | 6/15/2035 | NR | 5000000 | 5033236 |
| Louisiana Public Facilities Authority - Lafayette Renaissance Charter Academy<sup>†</sup> | 5.25% | 6/15/2035 | NR | 4750000 | 4774457 |
| Maricopa County Industrial Development Authority - Morrison Education Group Obligated Group AZ<sup>†</sup> | 5.25% | 7/1/2034 | NR | 1745000 | 1763399 |
| Maricopa County Industrial Development Authority - Ottawa University AZ<sup>†</sup> | 5.00% | 10/1/2026 | NR | 135000 | 133708 |
| Maricopa County Industrial Development Authority - Ottawa University AZ<sup>†</sup> | 5.125% | 10/1/2030 | NR | 425000 | 412034 |
| Massachusetts Development Finance Agency - Emerson College | 5.00% | 1/1/2036 | BBB+ | 2100000 | 2119726 |
| Massachusetts Development Finance Agency - Emmanuel College/MA | 5.00% | 10/1/2036 | Baa3 | 3660000 | 3660576 |
| Massachusetts Development Finance Agency - Suffolk University | 5.50% | 7/1/2041 | Baa3 | 4125000 | 4259491 |
| New Jersey Educational Facilities Authority - Stockton University | 5.00% | 7/1/2033 | A3 | 2435000 | 2453817 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY (FGIC) | 3.201%<br> (CPI YoY \* 1 + 0.89%) | 3/1/2027 | Baa1 | 2550000 | 2526199 |
| New York State Dormitory Authority - Yeshiva University | 5.00% | 7/15/2032 | BBB- | 1960000 | 2100096 |
| Public Finance Authority - Mater Academy of Nevada WI<sup>†</sup> | 5.00% | 12/15/2034 | BB | 825000 | 830461 |
| Public Finance Authority - Mater Academy of Nevada WI<sup>†</sup> | 5.00% | 12/15/2039 | BB | 700000 | 672177 |
| Public Finance Authority - UMA Education Inc WI<sup>†</sup> | 5.00% | 10/1/2025 | BB+ | 1120000 | 1121934 |
| Public Finance Authority - UMA Education Inc WI<sup>†</sup> | 5.00% | 10/1/2026 | BB+ | 1185000 | 1199422 |
| Public Finance Authority - UMA Education Inc WI<sup>†</sup> | 5.00% | 10/1/2027 | BB+ | 1125000 | 1149467 |

---

*See Notes to Schedule of Investments.* 143

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |  |
| Public Finance Authority - UMA Education Inc WI<sup>†</sup> | 5.00% |  | 10/1/2034 | BB+ | $8110000 | $8267409 |
| Public Finance Authority - UMA Education Inc WI<sup>†</sup> | 5.00% |  | 10/1/2039 | BB+ | 3000000 | 2965364 |
| Public Finance Authority - Wingate University WI | 5.25% |  | 10/1/2038 | BBB- | 3250000 | 3182754 |
| Sierra Vista Industrial Development Authority - American Leadership Academy Inc AZ<sup>†</sup> | 5.00% |  | 6/15/2033 | NR | 7000000 | 7217134 |
| *Total* |  |  |  |  |  | 162275468 |
| **Energy 0.52%** |  |  |  |  |  |  |
| PEFA, Inc. IA | 5.00% | <sup>#(a)</sup> | 9/1/2049 | A3 | 10165000 | 10290317 |
| **General Obligation 4.94%** |  |  |  |  |  |  |
| Academical Village Community Development District FL | 3.25% |  | 5/1/2031 | NR | 4265000 | 4010057 |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.125% |  | 5/1/2032 | NR | 1685000 | 1711750 |
| California Community Choice Financing Authority | 5.25% | <sup>#(a)</sup> | 1/1/2054 | Baa1 | 8575000 | 8990041 |
| California Community Choice Financing Authority | 5.50% | <sup>#(a)</sup> | 5/1/2054 | A2 | 7500000 | 7894802 |
| Chicago Board of Education IL | 4.00% |  | 12/1/2035 | BB+ | 1500000 | 1440672 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2034 | BB+ | 7325000 | 7336921 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2034 | BB+ | 2000000 | 1998980 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2036 | BB+ | 4120000 | 4013150 |
| Chicago Board of Education IL GO | 5.00% |  | 12/1/2036 | BB+ | 2500000 | 2526440 |
| Chicago Board of Education IL GO | 5.25% |  | 12/1/2035 | BB+ | 5160000 | 5160165 |
| Chicago Board of Education IL GO | 5.25% |  | 12/1/2039 | BB+ | 1000000 | 988563 |
| City of Chicago IL GO | 5.00% |  | 1/1/2031 | BBB | 1000000 | 1032356 |
| City of Chicago IL GO | 5.00% |  | 1/1/2034 | BBB | 5025000 | 5327068 |
| City of Chicago IL GO | 5.00% |  | 1/1/2035 | BBB | 4700000 | 4939885 |
| City of New York NY GO | 5.00% |  | 3/1/2032 | AA | 5000 | 5008 |
| City of Scranton PA GO | 5.00% |  | 9/1/2029 | BBB+ | 3650000 | 3746161 |
| Commonwealth of Puerto Rico GO | Zero Coupon |  | 7/1/2033 | NR | 2680000 | 1856031 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2033 | NR | 3174368 | 3099414 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2037 | NR | 139 | 132 |
| Commonwealth of Puerto Rico GO | 5.375% |  | 7/1/2025 | NR | 1085498 | 1085498 |
| Commonwealth of Puerto Rico GO | 5.625% |  | 7/1/2027 | NR | 8230472 | 8471949 |

---

144 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  |  |  |
| Commonwealth of Puerto Rico GO | 5.75% | 7/1/2031 | NR | $12933161 | $13958551 |
| Jefferson County Civic Facility Development Corp. - Samaritan Medical Center Obligated NY | 5.00% | 11/1/2037 | BB | 4500000 | 4301961 |
| New York Liberty Development Corp. | 1.20% | 11/15/2028 | A+ | 2870000 | 2604046 |
| University City Industrial Development Authority MO | 4.875% | 6/15/2036 | NR | 1055000 | 1048004 |
| *Total* |  |  |  |  | 97547605 |
| **Health Care 18.99%** |  |  |  |  |  |
| Antelope Valley Healthcare District Obligated Group CA | 5.00% | 3/1/2026 | BBB | 525000 | 525861 |
| Arizona Industrial Development Authority - Navajo Health Foundation- Sage Memorial Hospital Inc Obligated Group<sup>†</sup> | 7.125% | 5/1/2044 | NR | 3875000 | 4103180 |
| Atlanta Development Authority - Georgia ProtonCare Center Inc<sup>(c)</sup> | 6.00% | 1/1/2023 | NR | 2000000 | 1040000 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | Zero Coupon | 6/30/2044 | NR | 5693000 | 4124991 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 5.00% | 6/30/2039 | NR | 25513000 | 23574660 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 6.00% | 6/30/2034 | NR | 995395 | 1054142 |
| Berks County Municipal Authority - Tower Health Obligated Group PA | 8.00% | 6/30/2034 | NR | 1986526 | 2029604 |
| Board of Managers Joint Guadalupe County-City of Seguin Hospital TX | 4.00% | 12/1/2026 | BB | 1255000 | 1241899 |
| Bucks County Industrial Development Authority PA | 5.00% | 7/1/2035 | B+ | 1100000 | 1140153 |
| Bucks County Industrial Development Authority PA | 5.00% | 7/1/2036 | B+ | 1250000 | 1288542 |
| Buffalo & Erie County Industrial Land Development Corp. - Catholic Health System Obligated Group NY | 5.00% | 7/1/2040 | B- | 2900000 | 2778904 |
| Buffalo & Erie County Industrial Land Development Corp. - Catholic Health System Obligated Group NY | 5.25% | 7/1/2035 | B- | 2000000 | 1961932 |
| California Municipal Finance Authority - Palomar Health Obligated Group COPS<sup>†</sup> | 5.00% | 11/1/2027 | B | 7280000 | 6788815 |
| California Public Finance Authority - Kendal At Ventura<sup>†</sup> | 10.00% | 5/15/2028 | NR | 3500000 | 3583433 |

---

*See Notes to Schedule of Investments.* 145

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| California Public Finance Authority - Kendal At Ventura<sup>†</sup> | 12.00% | 5/15/2028 | NR | $375000 | $397720 |
| California Statewide Communities Development Authority - Loma Linda University Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2036 | BB | 5500000 | 5512407 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.00% | 12/1/2031 | BB | 1000000 | 1009686 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group | 5.25% | 12/1/2034 | BB | 14275000 | 14282226 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.25% | 12/1/2038 | BB | 1485000 | 1491730 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.25% | 12/1/2043 | BB | 5000000 | 4958285 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group | 5.25% | 12/1/2044 | BB | 4825000 | 4698817 |
| Capital Projects Finance Authority - Trilogy Community Development Foundation Inc Obligated Group FL<sup>†</sup> | 6.00% | 1/1/2035 | NR | 2515000 | 2530933 |
| Capital Trust Authority - Convivial St Petersburg LLC FL<sup>†</sup> | 12.00% | 10/3/2029 | NR | 2500000 | 2532410 |
| Citizens Memorial Hospital District MO | 5.00% | 12/1/2026 | NR | 8825000 | 8869020 |
| City of Blaine - Crest View Obligated Group MN<sup>(c)</sup> | 5.125% | 7/1/2025 | NR | 53623 | 29493 |
| City of Colby KS - Citizens Medical Center Inc | 5.50% | 7/1/2026 | NR | 4600000 | 4611099 |
| City of Minneapolis - Fairview Health Services Obligated Group MN | 5.00% | 11/15/2033 | BBB+ | 1320000 | 1360169 |
| City of Minneapolis - Fairview Health Services Obligated Group MN | 5.00% | 11/15/2034 | BBB+ | 2000000 | 2006463 |
| City of Seneca - Nemaha Valley Community Hospital KS | 5.00% | 9/1/2025 | NR | 1500000 | 1500505 |
| City of Venice - Southwest Florida Retirement Center Inc Obligated Group FL<sup>†</sup> | 4.25% | 1/1/2030 | BB+ <sup>(b)</sup> | 900000 | 901426 |
| City of Wichita - Presbyterian Manors Obligated Group KS | 5.25% | 5/15/2039 | NR | 1500000 | 1455522 |

---

146 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Connecticut State Health & Educational Facilities Authority - Griffin Health Obligated Group<sup>†</sup> | 5.00% | 7/1/2032 | BB+ | $1000000 | $1018950 |
| Connecticut State Health & Educational Facilities Authority - Hartford HealthCare Obligated Group | 5.00% | 7/1/2034 | A | 2360000 | 2361268 |
| Connecticut State Health & Educational Facilities Authority - Nuvance Health Obligated Group | 4.00% | 7/1/2041 | BBB+ | 4395000 | 4028427 |
| County of Cuyahoga - MetroHealth System OH | 5.00% | 2/15/2037 | BBB | 7300000 | 7303277 |
| County of Montgomery - Trinity Health Corp Obligated Group MD | 5.00% | 12/1/2044 | AA- | 8030000 | 7936850 |
| County of Muskingum - Genesis Healthcare Obligated Group OH | 5.00% | 2/15/2027 | BB+ | 1445000 | 1452759 |
| County of Muskingum - Genesis Healthcare Obligated Group OH | 5.00% | 2/15/2033 | BB+ | 8545000 | 8578754 |
| County of Washington - Marietta Area Health Care Inc Obligated Group OH | 5.50% | 12/1/2027 | NR | 5620000 | 5678926 |
| County of Washington - Marietta Area Health Care Inc Obligated Group OH | 6.625% | 12/1/2042 | NR | 2000000 | 2074733 |
| Crawford County Memorial Hospital Inc LA | 5.00% | 6/15/2027 | NR | 1255000 | 1270679 |
| Doylestown Hospital Authority - Doylestown Hospital Obligated Group PA<sup>†</sup> | 5.00% | 7/1/2031 | NR | 985000 | 1038559 |
| Dutchess County Local Development Corp. - Nuvance Health Obligated Group NY | 4.00% | 7/1/2034 | BBB+ | 6435000 | 6437244 |
| Glendale Industrial Development Authority - Beatitudes Campus Obligated Group AZ | 4.00% | 11/15/2027 | NR | 295000 | 276372 |
| Grays Harbor County Public Hospital District No. 1 WA | 5.75% | 12/1/2033 | BB+ | 5105000 | 5446812 |
| Greater Texas Cultural Education Facilities Finance Corp. - Texas Biomedical Research Institute TX | 5.00% | 6/1/2037 | Baa2 | 730000 | 766779 |
| Greater Texas Cultural Education Facilities Finance Corp. - Texas Biomedical Research Institute TX | 5.00% | 6/1/2038 | Baa2 | 3710000 | 3861346 |
| Henry County Hospital Authority - Piedmont Healthcare Inc Obligated Group GA | 5.00% | 7/1/2034 | AA- | 4695000 | 4696766 |
| Idaho Health Facilities Authority - North Canyon Medical Center Inc | 5.50% | 11/1/2029 | NR | 1365000 | 1390967 |

---

*See Notes to Schedule of Investments.* 147

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| Idaho Health Facilities Authority - North Canyon Medical Center Inc | 6.25% |  | 11/1/2035 | NR | $2610000 | $2720753 |
| Illinois Finance Authority - Lifespace Communities Inc Obligated Group | 5.00% |  | 5/15/2035 | BBB <sup>(b)</sup> | 1350000 | 1350028 |
| Illinois Finance Authority - Rush Obligated Group | 5.00% |  | 11/15/2038 | A+ | 2200000 | 2199934 |
| King County Public Hospital District No. 4 WA | 5.00% |  | 12/1/2025 | NR | 25000 | 24993 |
| Kremmling Memorial Hospital District CO<sup>†</sup> | 5.00% |  | 12/1/2029 | NR | 1760000 | 1755042 |
| Kremmling Memorial Hospital District CO<sup>†</sup> | 5.125% |  | 12/1/2034 | NR | 2825000 | 2740162 |
| Maryland Health & Higher Educational Facilities Authority - Adventist Healthcare Obligated Group | 5.00% |  | 1/1/2033 | BBB | 2500000 | 2644792 |
| Massachusetts Development Finance Agency - Boston Medical Center Corp Obligated Group | 5.00% |  | 7/1/2032 | BBB | 6000000 | 6018704 |
| Massachusetts Development Finance Agency - Boston Medical Center Corp Obligated Group | 5.00% |  | 7/1/2035 | BBB | 1050000 | 1052096 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 5.00% |  | 7/1/2025 | BBB- | 1400000 | 1400000 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 5.00% |  | 7/1/2036 | BBB- | 3605000 | 3632649 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 5.00% |  | 7/1/2037 | BBB- | 1500000 | 1429270 |
| Massachusetts Development Finance Agency - Tufts Medicine Obligated Group | 8.50% |  | 10/1/2026 | BBB- | 8900000 | 8948680 |
| Massachusetts Health & Educational Facilities Authority - Trinity Health Corp Obligated Group | 2.82%<br> (MUNIPSA \* 1 + .90% |)<sup>#</sup> | 11/15/2032 | AA- | 1130000 | 1090753 |
| Monroe County Hospital Authority - Centurion Foundation Lehigh Valley LLC PA<sup>†</sup> | 5.10% |  | 6/15/2039 | NR | 10000000 | 9539116 |
| Moon Industrial Development Authority - Baptist Homes Society Obligated Group PA | 5.75% |  | 7/1/2035 | NR | 2600000 | 2384232 |
| Nassau County Local Economic Assistance Corp. - Catholic Health Services of Long Island Obligated Group NY | 5.00% |  | 7/1/2032 | A- | 1300000 | 1300518 |
| New Hampshire Business Finance Authority - NFA UH SPV LLC<sup>†</sup> | 5.625% |  | 12/15/2033 | NR | 4615000 | 4698262 |

---

148 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| New Hope Cultural Education Facilities Finance Corp. - Bella Vida Forefront Living Obligated Group TX | 4.25% | 10/1/2030 | NR | $1250000 | $1251659 |
| New Hope Cultural Education Facilities Finance Corp. - SLF CHP LLC TX<sup>†</sup> | 5.75% | 7/1/2035 | NR | 12500000 | 12301385 |
| New Jersey Economic Development Authority - Bancroft Neurohealth Obligated Group | 5.00% | 6/1/2036 | NR | 2300000 | 2301366 |
| New Jersey Health Care Facilities Financing Authority - St Joseph's Healthcare System Obligated Group | 4.00% | 7/1/2034 | BBB- | 1870000 | 1817058 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 5.00% | 7/1/2028 | B- | 1000000 | 1002759 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 5.00% | 7/1/2030 | B- | 2905000 | 2902078 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 5.00% | 7/1/2041 | B- | 1850000 | 1761865 |
| New York State Dormitory Authority - Garnet Health Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2027 | BB- | 1300000 | 1309288 |
| New York State Dormitory Authority - Garnet Health Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2029 | BB- | 2800000 | 2814558 |
| New York State Dormitory Authority - Garnet Health Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2029 | BB- | 1000000 | 1000068 |
| North Carolina Medical Care Commission - Penick Village Obligated Group | 5.00% | 9/1/2034 | NR | 900000 | 928050 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.00% | 8/15/2027 | BB | 500000 | 514100 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.00% | 8/15/2029 | BB | 1200000 | 1243725 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.00% | 8/15/2033 | BB | 3405000 | 3494156 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.00% | 8/15/2038 | BB | 4700000 | 4733935 |
| Oklahoma Development Finance Authority - OU Medicine Obligated Group | 5.25% | 8/15/2048 | BB | 2145000 | 2074831 |
| Palm Beach County Health Facilities Authority - Lifespace Communities Inc Obligated Group FL | 5.00% | 5/15/2038 | BBB <sup>(b)</sup> | 9380000 | 9379461 |

---

*See Notes to Schedule of Investments.* 149

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| Palomar Health - Palomar Health Obligated Group CA | 5.00% |  | 11/1/2032 | B | $1950000 | $1801435 |
| Palomar Health - Palomar Health Obligated Group CA | 5.00% |  | 11/1/2042 | B | 1000000 | 760997 |
| Palomar Health Obligated Group CA | 5.00% |  | 11/1/2031 | B | 5360000 | 5023610 |
| Palomar Health Obligated Group CA | 5.00% |  | 11/1/2039 | B | 1000000 | 807437 |
| Public Finance Authority - Bancroft Neurohealth Obligated Group WI<sup>†</sup> | 5.00% |  | 6/1/2036 | NR | 1500000 | 1500891 |
| Public Finance Authority - Lehigh Valley Health Network Inc WI<sup>†</sup> | 6.625% |  | 12/1/2032 | NR | 2975000 | 2988411 |
| Public Finance Authority - Munificent Behavioral Hospitals I Inc Obligated Group WI<sup>†(d)</sup> | 6.00% |  | 1/1/2035 | NR | 1040000 | 1050973 |
| Public Finance Authority - RBS Evolution LLC WI<sup>†</sup> | 9.00% |  | 11/1/2028 | NR | 3300000 | 3497232 |
| Rhode Island Health & Educational Building Corp. - Care New England Health System Obligated Group | 5.00% |  | 9/1/2031 | BB- | 5250000 | 5262268 |
| Rhode Island Health & Educational Building Corp. - Care New England Health System Obligated Group | 5.00% |  | 9/1/2036 | BB- | 16000000 | 15703640 |
| Roanoke County Economic Development Authority - Friendship Foundation | 5.50% | <sup>#(a)</sup> | 9/1/2058 | NR | 8585000 | 8430842 |
| South Carolina Jobs-Economic Development Authority - Beaufort Memorial Hospital Obligated Group | 5.25% |  | 11/15/2039 | BB | 1000000 | 1033157 |
| South Carolina Jobs-Economic Development Authority - Kiawah Life Plan Village Inc | 5.25% |  | 11/15/2028 | NR | 2850000 | 2852397 |
| South Carolina Jobs-Economic Development Authority - Kiawah Life Plan Village Inc | 5.75% |  | 11/15/2029 | NR | 6500000 | 6499737 |
| Southeastern Ohio Port Authority - Marietta Area Healthcare Inc Obligated Group | 5.50% |  | 12/1/2029 | B <sup>(b)</sup> | 2335000 | 2334865 |
| Vermont Educational & Health Buildings Financing Agency - University of Vermont Health Network Obligated Group | 5.00% |  | 12/1/2035 | A | 2305000 | 2317857 |
| Vermont Educational & Health Buildings Financing Agency - University of Vermont Health Network Obligated Group VT | 5.00% |  | 12/1/2034 | A | 3660000 | 3684466 |
| Washington Health Care Facilities Authority - CommonSpirit Health Obligated Group | 5.00% | <sup>#(a)</sup> | 8/1/2049 | A- | 5120000 | 5153940 |

---

150 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Washington Health Care Facilities Authority - Providence St Joseph Health Obligated Group | 5.00% | 10/1/2038 | A | $3200000 | $3201132 |
| Westchester County Health Care Corp Obligated Group NY | 5.00% | 11/1/2046 | BB+ | 7000000 | 6286224 |
| Wisconsin Health & Educational Facilities Authority - Chiara Housing & Services Inc Obligated Group | 5.00% | 7/1/2035 | NR | 3070000 | 3066834 |
| Wisconsin Health & Educational Facilities Authority - Marshfield Clinic Health System Obligated Group | 5.00% | 2/15/2029 | A | 3265000 | 3460990 |
| Wisconsin Health & Educational Facilities Authority - Sauk-Prairie Memorial Hospital Inc Obligated Group | 5.125% | 2/1/2038 | Ba2 | 1950000 | 1891008 |
| Wisconsin Health & Educational Facilities Authority - Wisconsin Masonic Home Obligated Group | 5.25% | 8/15/2039 | BBB- <sup>(b)</sup> | 1415000 | 1454246 |
| *Total* |  |  |  |  | 374828410 |
| **Housing 5.13%** |  |  |  |  |  |
| California Housing Finance Agency | 3.25% | 8/20/2036 | BBB | 12118775 | 11304741 |
| California Municipal Finance Authority - Ascent 613<sup>†</sup> | 5.00% | 1/1/2038 | NR | 1000000 | 982405 |
| California Public Finance Authority - P3 Irvine SL Holdings LLC Obligated Group<sup>†</sup> | 5.70% | 6/1/2034 | NR | 1000000 | 1023756 |
| California Public Finance Authority - P3 Irvine SL Holdings LLC Obligated Group<sup>†</sup> | 5.875% | 6/1/2039 | NR | 7500000 | 7305810 |
| Capital Trust Authority - Madrone Florida Tech Student Housing I LLC FL<sup>†</sup> | 4.75% | 7/1/2040 | BB | 1250000 | 1200085 |
| Capital Trust Authority - Madrone Florida Tech Student Housing I LLC FL<sup>†</sup> | 5.00% | 7/1/2045 | BB | 1300000 | 1226481 |
| Connecticut Housing Finance Authority (FHLMC), (FNMA), (GNMA) | 6.00% | 11/15/2054 | AAA | 4535000 | 4895590 |
| Delaware State Housing Authority (FHLMC), (FNMA), (GNMA) | 6.00% | 1/1/2055 | Aa1 | 3515000 | 3834287 |
| Indiana Finance Authority - SFP-PUFW I LLC | 4.00% | 7/1/2034 | BBB- | 3070000 | 3027976 |
| Iowa Finance Authority - Lifespace Communities Inc Obligated Group IA | 6.75% | 5/15/2033 | BBB <sup>(b)</sup> | 4700000 | 5277118 |
| Massachusetts Development Finance Agency - CHF Merrimack Inc MA<sup>†</sup> | 4.25% | 7/1/2034 | BB | 450000 | 445880 |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% | 1/1/2054 | AA+ | 4130000 | 4482447 |

---

*See Notes to Schedule of Investments.* 151

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing (continued)** |  |  |  |  |  |  |
| Minnesota Housing Finance Agency (FHLMC), (FNMA), (GNMA) | 6.25% |  | 1/1/2056 | AA+ | $1875000 | $2076070 |
| Montgomery County Housing Opportunities Commission MD | 4.00% |  | 7/1/2048 | Aa2 | 315000 | 315216 |
| New Hampshire Business Finance Authority | 4.087% | <sup>#(a)</sup> | 1/20/2041 | AA- | 6155813 | 5851250 |
| New Hampshire Business Finance Authority | 4.087% | <sup>#(a)</sup> | 1/20/2041 | BBB | 5089098 | 4584055 |
| New Hampshire Business Finance Authority | 4.375% |  | 9/20/2036 | BBB | 6049168 | 5863452 |
| New Hampshire Business Finance Authority | 4.75% | <sup>#(a)</sup> | 6/20/2041 | AA- | 12500000 | 12559344 |
| New Hampshire Business Finance Authority | 5.75% |  | 4/28/2042 | BBB | 2500000 | 2526285 |
| New Hampshire Business Finance Authority (HUD) | 4.15% | <sup>#(a)</sup> | 10/20/2040 | A | 7650000 | 7398048 |
| New Jersey Housing & Mortgage Finance Agency | 6.00% |  | 10/1/2055 | AA | 1755000 | 1896298 |
| New York City Housing Development Corp. - 8 Spruce NY Owner LLC | 5.25% |  | 12/15/2031 | NR | 2500000 | 2560601 |
| North Carolina Housing Finance Agency | 4.00% |  | 7/1/2047 | AA+ | 110000 | 110093 |
| Pennsylvania Housing Finance Agency AMT | 4.00% |  | 4/1/2039 | AA+ | 90000 | 89928 |
| Public Finance Authority - CHF - Manoa LLC WI<sup>†</sup> | 5.25% |  | 7/1/2038 | BBB- | 3175000 | 3168247 |
| Virginia Beach Development Authority - Westminster-Canterbury on Chesapeake Bay Obligated Group | 5.375% |  | 9/1/2029 | BB+ <sup>(b)</sup> | 1650000 | 1666298 |
| Washington State Housing Finance Commission | 3.50% |  | 12/20/2035 | BBB+ | 5870241 | 5525153 |
| *Total* |  |  |  |  |  | 101196914 |
| **Lease Obligations 0.33%** |  |  |  |  |  |  |
| City of Phoenix Civic Improvement Corp. AZ AMT | 5.00% |  | 7/1/2036 | Aa3 | 1695000 | 1738835 |
| New Jersey Economic Development Authority | 3.17%<br> (MUNIPSA \* 1 + 1.25% |)<sup>#</sup> | 9/1/2025 | A2 | 2290000 | 2289560 |
| New Jersey Economic Development Authority - State of New Jersey Motor Vehicle Surcharge Revenue | 4.00% |  | 7/1/2034 | Baa2 | 2500000 | 2447082 |
| *Total* |  |  |  |  |  | 6475477 |

---

152 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Multi-Family Housing 0.32%** |  |  |  |  |  |  |
| New Hampshire Business Finance Authority | 3.625% |  | 8/20/2039 | A3 | $6951748 | $6368792 |
| **Other Revenue 1.85%** |  |  |  |  |  |  |
| Arlington Higher Education Finance Corp. - Newman International Academy TX | 4.00% |  | 8/15/2031 | NR | 360000 | 319245 |
| Capital Trust Agency, Inc. - Franklin Academy Series 2020 Obligated Group FL<sup>†</sup> | 5.00% |  | 12/15/2029 | NR | 1095000 | 1099350 |
| Cleveland-Cuyahoga County Port Authority - Playhouse Square Foundation OH | 5.00% |  | 12/1/2028 | BB+ | 2095000 | 2137628 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 5.25% |  | 8/15/2026 | Baa3 | 4305000 | 4316036 |
| Clifton Higher Education Finance Corp. - International Leadership of Texas Inc | 5.25% |  | 8/15/2028 | Baa3 | 3040000 | 3047793 |
| Industrial Development Authority of the County of Pima - Edkey Inc Obligated Group<sup>†(c)</sup> | 3.50% |  | 7/1/2025 | NR | 265000 | 185500 |
| Jefferson Parish Economic Development & Port District - Kenner Discovery Health Science Foundation Inc LA<sup>†</sup> | 4.80% |  | 6/15/2029 | NR | 1670000 | 1674392 |
| Maryland Economic Development Corp.<sup>(c)</sup> | 5.00% |  | 12/1/2031 | NR | 1500000 | 1005000 |
| Public Finance Authority - Inperium Inc Obligated Group WI<sup>†</sup> | 5.00% |  | 12/1/2034 | NR | 6640000 | 6743035 |
| Public Finance Authority - Inperium Inc Obligated Group WI<sup>†</sup> | 5.50% |  | 12/1/2044 | NR | 4500000 | 4476175 |
| Washington State Convention Center Public Facilities District | 4.00% |  | 7/1/2031 | NR | 11350000 | 11507572 |
| *Total* |  |  |  |  |  | 36511726 |
| **Pollution Control 1.15%** |  |  |  |  |  |  |
| California Pollution Control Financing Authority AMT | 3.375% |  | 7/1/2025 | A- | 1000000 | 1000000 |
| Finance Authority of Maine - Casella Waste Systems Inc AMT<sup>†</sup> | 4.625% | <sup>#(a)</sup> | 12/1/2047 | B+ | 4700000 | 4582178 |
| Finance Authority of Maine - Casella Waste Systems Inc ME AMT<sup>†</sup> | 4.375% | <sup>#(a)</sup> | 8/1/2035 | B+ | 2750000 | 2748703 |
| Florida Development Finance Corp. - GFL Solid Waste Southeast LLC AMT<sup>†</sup> | 4.375% | <sup>#(a)</sup> | 10/1/2054 | BB | 6520000 | 6499535 |
| Illinois Finance Authority - LRS Holdings LLC AMT<sup>†</sup> | 7.25% | <sup>#(a)</sup> | 9/1/2052 | NR | 4500000 | 4814187 |
| Matagorda County Navigation District No. 1 - AEP Texas Inc | 4.00% |  | 6/1/2030 | BBB+ | 1065000 | 1065173 |

---

*See Notes to Schedule of Investments.* 153

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Pollution Control (continued)** |  |  |  |  |  |  |
| Mississippi Business Finance Corp. - Waste Pro USA Inc AMT<sup>†</sup> | 5.00% | <sup>#(a)</sup> | 2/1/2036 | NR | $1500000 | $1517315 |
| Vermont Economic Development Authority - Casella Waste Systems Inc AMT<sup>†</sup> | 4.625% | <sup>#(a)</sup> | 4/1/2036 | B+ | 475000 | 478384 |
| *Total* |  |  |  |  |  | 22705475 |
| **Special Tax 2.41%** |  |  |  |  |  |  |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.00% |  | 5/1/2028 | NR | 770000 | 785331 |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.25% |  | 5/1/2032 | NR | 1660000 | 1689621 |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.25% |  | 5/1/2042 | NR | 4070000 | 4028284 |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 5.25% |  | 5/1/2042 | NR | 1750000 | 1699915 |
| Allentown Neighborhood Improvement Zone Development Authority PA<sup>†</sup> | 6.00% |  | 5/1/2042 | NR | 3590000 | 3681389 |
| Babcock Ranch Community Independent Special District FL | 4.125% |  | 5/1/2027 | NR | 640000 | 641112 |
| Babcock Ranch Community Independent Special District FL | 4.25% |  | 5/1/2032 | NR | 2000000 | 2007933 |
| Celebration Pointe Community Development District No. 1 FL<sup>(c)</sup> | 2.375% |  | 5/1/2026 | NR | 430000 | 344000 |
| City of Baltimore MD | 4.50% |  | 6/1/2033 | NR | 375000 | 376976 |
| County of Denton Green Meadows Public Improvement District Major Impt Area TX<sup>†</sup> | 4.75% |  | 12/31/2030 | NR | 650000 | 652836 |
| County of Denton Green Meadows Public Improvement District Major Impt Area TX<sup>†</sup> | 5.00% |  | 12/31/2035 | NR | 1000000 | 1008203 |
| Fairfield Community Facilities District - City of Fairfield CA Community Facilities District No 2023-1 Area No 1 CA | 5.00% |  | 9/1/2044 | NR | 4335000 | 4347385 |
| Industrial Development Authority of the City of St. Louis Missouri | 3.875% |  | 11/15/2029 | NR | 2510000 | 2404965 |
| Industrial Development Authority of the City of St. Louis Missouri | 4.375% |  | 11/15/2035 | NR | 565000 | 512596 |
| Lakewood Ranch Stewardship District FL | 5.40% |  | 5/1/2028 | NR | 780000 | 795289 |
| Lakewood Ranch Stewardship District FL | 5.45% |  | 5/1/2033 | NR | 2660000 | 2798456 |
| Mida Mountain Village Public Infrastructure District - Mountain Village Assessment Area No 2 UT<sup>†</sup> | 4.00% |  | 8/1/2025 | NR | 1205000 | 1204798 |

---

154 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Special Tax (continued)** |  |  |  |  |  |  |
| Military Installation Development Authority UT |  | 4.00% | 6/1/2036 | NR | $8250000 | $7668586 |
| New Jersey Economic Development Authority - NJ Metromall Urban Renewal Inc |  | 6.50% | 4/1/2028 | Baa2 | 560568 | 580042 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY (FGIC) | 3.191%<br> (CPI YoY \* 1 + 0.88% | 3.191%<br> (CPI YoY \* 1 + 0.88%) | 3/1/2026 | Baa1 | 1350000 | 1343471 |
| Peninsula Town Center Community Development Authority VA<sup>†</sup> |  | 4.50% | 9/1/2028 | NR | 400000 | 402347 |
| Scranton Redevelopment Authority PA GTD |  | 5.00% | 11/15/2028 | BBB+ | 150000 | 150085 |
| Village Community Development District No. 12 FL |  | 4.00% | 5/1/2033 | NR | 1290000 | 1275121 |
| Village Metropolitan District CO GO |  | 5.00% | 12/1/2040 | NR | 1100000 | 1084674 |
| West Villages Improvement District FL |  | 4.75% | 5/1/2039 | NR | 2000000 | 1909234 |
| West Villages Improvement District Unit of Development No 7 FL |  | 4.25% | 5/1/2029 | NR | 1580000 | 1590205 |
| Westview South Community Development District FL |  | 4.75% | 5/1/2028 | NR | 140000 | 141227 |
| Westview South Community Development District FL |  | 4.875% | 5/1/2028 | NR | 295000 | 297814 |
| Wolf Creek Infrastructure Financing District No. 1 Wolf Creek Assessment Area 1 UT |  | 5.75% | 12/1/2044 | NR | 2100000 | 2072242 |
| *Total* |  |  |  |  |  | 47494137 |
| **Tax Revenue 3.73%** |  |  |  |  |  |  |
| American Samoa Economic Development Authority<sup>†</sup> |  | 6.50% | 9/1/2028 | Ba3 | 1040000 | 1082101 |
| City of Sparks NV<sup>†</sup> |  | 2.75% | 6/15/2028 | Baa2 | 1790000 | 1748326 |
| Matching Fund Special Purpose Securitization Corp. - United States Virgin Islands Federal Excise Tax |  | 5.00% | 10/1/2027 | NR | 2000000 | 2029285 |
| Matching Fund Special Purpose Securitization Corp. - United States Virgin Islands Federal Excise Tax |  | 5.00% | 10/1/2028 | NR | 1250000 | 1273860 |
| Matching Fund Special Purpose Securitization Corp. - United States Virgin Islands Federal Excise Tax |  | 5.00% | 10/1/2032 | NR | 4035000 | 4128531 |
| Matching Fund Special Purpose Securitization Corp. - United States Virgin Islands Federal Excise Tax |  | 5.00% | 10/1/2039 | NR | 6620000 | 6504157 |

---

*See Notes to Schedule of Investments.* 155

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tax Revenue (continued)** |  |  |  |  |  |
| Mida Mountain Village Public Infrastructure District - Military Installation Development Auth Military Recreation Fac Project Area UT Tax Allocation<sup>†</sup> | 5.50% | 6/15/2039 | NR | $2370000 | $2372875 |
| Mida Mountain Village Public Infrastructure District - Military Installation Development Auth Military Recreation Fac Project Area UT Tax Allocation<sup>†</sup> | 5.75% | 6/15/2044 | NR | 665000 | 664460 |
| Military Installation Development Authority - Military Installation Development Auth Military Recreation Fac Project Area UT | 4.00% | 6/1/2041 | NR | 6540000 | 5769054 |
| Public Finance Authority - Southeast Overtown Park West Community Redevelopment Agency WI Tax Allocation<sup>†</sup> | 5.00% | 6/1/2041 | NR | 14500000 | 14390782 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 11424000 | 10730972 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 1502000 | 1410882 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.50% | 7/1/2034 | NR | 21450000 | 21449149 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.536% | 7/1/2053 | NR | 1000 | 870 |
| *Total* |  |  |  |  | 73555304 |
| **Tobacco 0.95%** |  |  |  |  |  |
| Nassau County Tobacco Settlement Corp. NY | 5.00% | 6/1/2035 | CCC+ | 1670000 | 1504282 |
| Nassau County Tobacco Settlement Corp. NY | 5.25% | 6/1/2026 | CCC+ | 8081680 | 7960476 |
| Silicon Valley Tobacco Securitization Authority CA | Zero Coupon | 6/1/2036 | NR | 4000000 | 2169482 |
| Tobacco Settlement Financing Corp. - Tobacco Settlement Financing Corp/VA VA | 5.20% | 6/1/2046 | B- | 7905000 | 7104563 |
| *Total* |  |  |  |  | 18738803 |
| **Transportation 12.29%** |  |  |  |  |  |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% | 6/30/2027 | BB+ <sup>(b)</sup> | 695000 | 713560 |

---

156 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% |  | 6/30/2028 | BB+ <sup>(b)</sup> | $2210000 | $2288850 |
| Chicago Midway International Airport IL AMT | 4.00% |  | 1/1/2032 | A | 3010000 | 3012091 |
| City & County of Denver - United Airlines Inc CO AMT | 5.00% |  | 10/1/2032 | BB | 16540000 | 16539972 |
| City & County of Denver Airport System Revenue CO AMT | 5.00% |  | 12/1/2035 | A+ | 4205000 | 4293992 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.25% |  | 7/15/2033 | Ba3 | 10000000 | 10330670 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.50% |  | 7/15/2035 | Ba3 | 9750000 | 10193879 |
| City of Houston Airport System Revenue - United Airlines Inc TX AMT | 5.50% |  | 7/15/2037 | Ba3 | 2100000 | 2182878 |
| County of Miami-Dade Aviation Revenue FL AMT | 5.00% |  | 10/1/2033 | A+ | 2705000 | 2709931 |
| County of Miami-Dade Seaport Department FL AMT | 5.00% |  | 10/1/2036 | A3 | 1300000 | 1366374 |
| Eagle County Airport Terminal Corp. CO AMT | 5.00% |  | 5/1/2037 | Baa2 | 2045000 | 2048671 |
| Florida Development Finance Corp. - AAF Operations Holdings LLC AMT<sup>†</sup> | 10.00% | <sup>#(a)</sup> | 7/15/2059 | NR | 4500000 | 4285184 |
| Florida Development Finance Corp. - AAF Operations Holdings LLC AMT<sup>†</sup> | 12.00% | <sup>#(a)</sup> | 7/15/2032 | NR | 5500000 | 5472500 |
| Florida Development Finance Corp. - Brightline Florida Holdings LLC AMT<sup>†</sup> | 8.25% | <sup>#(a)</sup> | 7/1/2057 | NR | 500000 | 513913 |
| Illinois Finance Authority - Centerpoint Joliet Terminal Railroad LLC AMT<sup>†</sup> | 4.125% | <sup>#(a)</sup> | 12/1/2050 | BBB+ | 10720000 | 10388920 |
| Illinois Finance Authority - Centerpoint Joliet Terminal Railroad LLC AMT<sup>†(d)</sup> | 4.80% | <sup>#(a)</sup> | 12/1/2043 | BBB+ | 15000000 | 15197692 |
| Illinois Finance Authority - Centerpoint Joliet Terminal Railroad LLC AMT<sup>†(d)</sup> | 4.80% | <sup>#(a)</sup> | 12/1/2043 | BBB+ | 7750000 | 7852141 |
| Illinois Finance Authority - Centerpoint Joliet Terminal Railroad LLC AMT<sup>†(d)</sup> | 4.80% | <sup>#(a)</sup> | 12/1/2043 | BBB+ | 7000000 | 7092257 |
| Maryland Economic Development Corp. - Purple Line Transit Partners LLC AMT | 5.00% |  | 11/12/2028 | Baa3 | 9995000 | 10096458 |
| Metropolitan Transportation Authority NY | 5.00% |  | 11/15/2031 | A2 | 1975000 | 1982306 |
| Metropolitan Transportation Authority NY | 5.00% |  | 11/15/2035 | A2 | 3980000 | 3985096 |
| Metropolitan Washington Airports Authority Dulles Toll Road Revenue DC | 5.00% |  | 10/1/2034 | A- | 1260000 | 1321457 |

---

*See Notes to Schedule of Investments.* 157

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |
| New Jersey Economic Development Authority - DRP Urban Renewal 4 LLC AMT<sup>†</sup> | 6.375% | 1/1/2035 | NR | $4250000 | $4332882 |
| New York City Transitional Development Corp. - JFK NTO LLC NY AMT | 5.50% | 6/30/2038 | Baa3 | 2065000 | 2177754 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 4.00% | 10/1/2030 | Baa2 | 14780000 | 14531916 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 4.00% | 1/1/2036 | Baa2 | 5845000 | 5486787 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% | 1/1/2033 | Baa2 | 2500000 | 2541006 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% | 1/1/2036 | Baa2 | 14235000 | 14351824 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.625% | 4/1/2040 | Baa2 | 1625000 | 1670987 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 6.00% | 4/1/2035 | Baa2 | 3000000 | 3265103 |
| New York Transportation Development Corp. - Empire State Thruway Partners LLC AMT | 2.50% | 10/31/2031 | BBB- <sup>(b)</sup> | 1365000 | 1179480 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 5.00% | 12/1/2036 | Baa1 | 2700000 | 2792655 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.25% | 6/30/2038 | Baa3 | 2720000 | 2842274 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.25% | 6/30/2040 | Baa3 | 1500000 | 1542922 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.25% | 6/30/2041 | Baa3 | 1000000 | 1020267 |
| New York Transportation Development Corp. - JFK NTO LLC NY AMT | 5.50% | 6/30/2039 | Baa3 | 1035000 | 1085341 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 4.00% | 7/1/2033 | Baa2 | 2815000 | 2784115 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 5.00% | 7/1/2034 | Baa2 | 6500000 | 6506696 |
| New York Transportation Development Corp. - Laguardia Gateway Partners LLC (AG) AMT | 4.00% | 7/1/2036 | AA | 1555000 | 1525206 |
| New York Transportation Development Corp. - Laguardia Gateway Partners LLC AMT | 5.00% | 7/1/2041 | Baa2 | 1200000 | 1200042 |

---

158 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| North Parkway Municipal Management District No. 1 TX<sup>†</sup> | 3.625% |  | 9/15/2026 | NR | $400000 | $399407 |
| Pennsylvania Economic Development Financing Authority - PA Bridges Finco LP | 5.00% |  | 12/31/2038 | BBB | 3820000 | 3809449 |
| Pennsylvania Turnpike Commission Registration Fee Revenue | 2.77%<br> (MUNIPSA \* 1 + .85% |)<sup>#</sup> | 7/15/2041 | AA- | 5000000 | 4991494 |
| Port of Beaumont Navigation District - Jefferson 2020 Bond Lessee & Borrower LLC Obligated Group TX AMT<sup>†</sup> | 3.625% |  | 1/1/2035 | NR | 2000000 | 1795627 |
| Public Finance Authority - Air Cargo Obligated Group WI AMT | 5.00% |  | 7/1/2031 | BBB | 1875000 | 1980336 |
| Public Finance Authority - Air Cargo Obligated Group WI AMT | 5.00% |  | 7/1/2032 | BBB | 1845000 | 1952375 |
| Public Finance Authority - Million Air Three Obligated Group WI AMT<sup>†</sup> | 5.50% |  | 9/1/2030 | NR | 750000 | 778159 |
| Public Finance Authority - Million Air Three Obligated Group WI AMT<sup>†</sup> | 5.75% |  | 9/1/2035 | NR | 2000000 | 2074397 |
| San Francisco City & County Airport Comm-San Francisco International Airport CA AMT | 5.00% |  | 5/1/2037 | AA- | 8000000 | 8194777 |
| Texas Private Activity Bond Surface Transportation Corp. - NTE Mobility Partners Segments 3 LLC AMT | 5.375% |  | 6/30/2037 | Baa1 | 1835000 | 1931094 |
| Texas Private Activity Bond Surface Transportation Corp. - NTE Mobility Partners Segments 3 LLC AMT | 5.375% |  | 6/30/2038 | Baa1 | 1170000 | 1221881 |
| Texas Private Activity Bond Surface Transportation Corp. - NTE Mobility Partners Segments 3 LLC AMT | 5.375% |  | 6/30/2039 | Baa1 | 1580000 | 1640714 |
| Virginia Small Business Financing Authority - 95 Express Lanes LLC AMT | 5.00% |  | 1/1/2034 | BBB | 6710000 | 7021002 |
| Virginia Small Business Financing Authority - Elizabeth River Crossings OpCo LLC AMT | 4.00% |  | 7/1/2033 | BBB | 6000000 | 5910100 |
| Virginia Small Business Financing Authority - Elizabeth River Crossings OpCo LLC AMT | 4.00% |  | 1/1/2038 | BBB | 4525000 | 4253425 |
| *Total* |  |  |  |  |  | 242660286 |

---

*See Notes to Schedule of Investments.* 159

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities 14.45%** |  |  |  |  | | |
| Black Belt Energy Gas District AL | 5.25% | <sup>#(a)</sup> | 5/1/2055 | A1 | $8930000 | $9291352 |
| Black Belt Energy Gas District AL | 5.50% | <sup>#(a)</sup> | 6/1/2049 | A2 | 2350000 | 2479497 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 1/1/2056 | A1 | 3600000 | 3718362 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 3/1/2056 | Aa3 | 16875000 | 17931949 |
| California Community Choice Financing Authority | 5.25% |  | 11/1/2054 | A2 | 3300000 | 3498713 |
| Central Plains Energy Project NE | 5.00% | <sup>#(a)</sup> | 5/1/2054 | Aa2 | 5000000 | 5257472 |
| Charlotte County Industrial Development Authority - MSKP Town & Country Utility LLC<sup>†</sup> | 5.00% |  | 10/1/2029 | NR | 2110000 | 2161255 |
| Charlotte County Industrial Development Authority - MSKP Town & Country Utility LLC<sup>†</sup> | 5.00% |  | 10/1/2034 | NR | 1000000 | 1012836 |
| Charlotte County Industrial Development Authority - MSKP Town & Country Utility LLC AMT<sup>†</sup> | 5.50% |  | 10/1/2036 | NR | 3345000 | 3352481 |
| City of Osceola - Plum Point Energy Associates LLC AR AMT | 5.50% | <sup>#(a)</sup> | 4/1/2036 | NR | 11750000 | 11750585 |
| City of Seattle Municipal Light & Power Revenue WA | 2.17%<br> (MUNIPSA \* 1 + .25% |)<sup>#</sup> | 5/1/2045 | AA | 3000000 | 2967025 |
| County of Trimble - Louisville Gas and Electric Co KY AMT | 4.70% | <sup>#(a)</sup> | 6/1/2054 | A1 | 1750000 | 1766172 |
| County of Washoe - Sierra Pacific Power Co NV | 4.125% | <sup>#(a)</sup> | 3/1/2036 | A | 3175000 | 3183134 |
| Delaware State Economic Development Authority - NRG Energy Inc | 1.25% | <sup>#(a)</sup> | 10/1/2045 | BBB- | 5000000 | 4952178 |
| Energy Southeast A Cooperative District AL | 5.25% | <sup>#(a)</sup> | 7/1/2054 | A1 | 3000000 | 3211004 |
| Energy Southeast A Cooperative District AL | 5.75% | <sup>#(a)</sup> | 4/1/2054 | A1 | 2000000 | 2185182 |
| Florida Development Finance Corp. - Waste Pro USA Inc AMT | 3.00% |  | 6/1/2032 | NR | 5000000 | 4533745 |
| Illinois Finance Authority - Peoples Gas Light & Coke Co/The | 3.90% |  | 3/1/2030 | Aa3 | 5000000 | 4980501 |
| Kentucky Public Energy Authority | 5.00% | <sup>#(a)</sup> | 5/1/2055 | A2 | 4500000 | 4724940 |
| Main Street Natural Gas, Inc. - Main Street Natural Gas Inc GA | 5.00% | <sup>#(a)</sup> | 5/1/2055 | A3 | 6320000 | 6655523 |
| Main Street Natural Gas, Inc. GA<sup>†</sup> | 4.00% | <sup>#(a)</sup> | 8/1/2052 | BBB- | 23050000 | 22986232 |
| Main Street Natural Gas, Inc. GA | 4.00% | <sup>#(a)</sup> | 9/1/2052 | A3 | 1190000 | 1196025 |
| Main Street Natural Gas, Inc. GA | 4.641%<br> (SOFR \* .67 + 1.70% |)<sup>#</sup> | 12/1/2053 | Aa1 | 5000000 | 5026790 |

---

160 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |
| Pennsylvania Economic Development Financing Authority - Talen Energy Supply LLC | 5.25% | <sup>#(a)</sup> | 12/1/2037 | B | $11155000 | $11247851 |
| Pennsylvania Economic Development Financing Authority - Talen Energy Supply LLC | 5.25% | <sup>#(a)</sup> | 12/1/2038 | B | 5640000 | 5678689 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 5.00% |  | 7/1/2030 | NR | 6285000 | 6535293 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 5.00% |  | 7/1/2033 | NR | 1150000 | 1192626 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 5.00% |  | 7/1/2033 | NR | 5230000 | 5441240 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 5.00% |  | 7/1/2035 | NR | 1500000 | 1541815 |
| Southeast Energy Authority A Cooperative District AL | 5.00% |  | 11/1/2035 | Baa1 | 35100000 | 36295769 |
| Southeast Energy Authority A Cooperative District AL | 5.00% |  | 1/1/2056 | A1 | 13785000 | 14076179 |
| Southeast Energy Authority A Cooperative District AL<sup>(e)</sup> | 5.00% |  | 1/1/2056 | A1 | 15000000 | 15316844 |
| Southeast Energy Authority A Cooperative District AL | 5.25% | <sup>#(a)</sup> | 11/1/2055 | A1 | 25000000 | 26895575 |
| Southeast Energy Authority A Cooperative District AL | 5.341%<br> (SOFR \* .67 + 2.42% |)<sup>#</sup> | 1/1/2053 | A1 | 10000000 | 10452546 |
| Tennergy Corp. TN | 5.50% | <sup>#(a)</sup> | 10/1/2053 | Baa1 | 8195000 | 8605032 |
| Texas Municipal Gas Acquisition & Supply Corp. III - Texas Municipal Gas Acquisition & Supply Corp III TX | 5.00% |  | 12/15/2032 | A1 | 4080000 | 4347360 |
| Texas Municipal Gas Acquisition & Supply Corp. IV | 5.50% | <sup>#(a)</sup> | 1/1/2054 | A1 | 8000000 | 8780705 |
| *Total* |  |  |  |  |  | 285230477 |
| *Total Municipal Bonds (cost $1,927,908,454)* |  |  |  |  |  | 1931031145 |

---

*See Notes to Schedule of Investments.* 161

**Schedule of Investments (unaudited)(continued)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest**<br> **Rate**<sup>#</sup> | **Interest<br> Rate<br> Reset<br> Date**<sup>(f)</sup> | **Final<br> Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **SHORT-TERM INVESTMENTS 3.83%** |  |  |  |  |  |  |
| **Variable Rate Demand Notes 3.83%** |  |  |  |  |  |  |
| **Corporate-Backed 0.28%** |  |  |  |  |  |  |
| Maryland Industrial Development Financing Authority - Occidental Petroleum Corp | 3.950% | 7/1/2025 | 3/1/2030 | Baa3 | $5645000 | $5645000 |
| **General Obligation 1.39%** |  |  |  |  |  |  |
| City of New York NY GO | 3.900% | 7/1/2025 | 4/1/2042 | AA | 4050000 | 4050000 |
| City of New York NY GO | 3.900% | 7/1/2025 | 4/1/2042 | AA | 2500000 | 2500000 |
| City of New York NY GO | 3.900% | 7/1/2025 | 10/1/2046 | AA | 20820000 | 20820000 |
| *Total* |  |  |  |  |  | 27370000 |
| **Transportation 0.71%** |  |  |  |  |  |  |
| Bay Area Toll Authority CA | 2.950% | 7/1/2025 | 4/1/2055 | AA+ | 14050000 | 14050000 |
| **Utilities 1.45%** |  |  |  |  |  |  |
| Development Authority of Appling County - Georgia Power Co | 4.050% | 7/1/2025 | 9/1/2041 | A | 5500000 | 5500000 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 3.900% | 7/1/2025 | 6/15/2033 | AA+ | 4000000 | 4000000 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 4.000% | 7/1/2025 | 6/15/2050 | AA+ | 19050000 | 19050000 |
| *Total* |  |  |  |  |  | 28550000 |
| *Total Short-Term Investments (cost $75,615,000)* | *Total Short-Term Investments (cost $75,615,000)* |  |  |  |  | 75615000 |
| *Total Investments in Securities 101.75% (cost $2,004,984,110)* | *Total Investments in Securities 101.75% (cost $2,004,984,110)* | *Total Investments in Securities 101.75% (cost $2,004,984,110)* |  |  |  | 2008127395 |
| *Other Assets and Liabilities – Net*<sup>(g)</sup> *(1.75)%* | *Other Assets and Liabilities – Net*<sup>(g)</sup> *(1.75)%* |  |  |  |  | (34524249) |
| *Net Assets 100.00%* |  |  |  |  |  | $1973603146 |

---

---

| | |
|:---|:---|
| AG | Insured by - Assured Guaranty, inc. |
| AMT | Income from the security may be subject to Alternative Minimum Tax. |
| COPS | Certificates of Participation. |
| CPI | Consumer Price Index: Rate fluctuates based on CPI. |
| FGIC | Insured by - Financial Guaranty Insurance Company. |
| FHLMC | Insured by - Federal Home Loan Mortgage Corporation. |
| FNMA | Federal National Mortgage Association. |
| GNMA | Government National Mortgage Association. |
| GTD | Guaranteed. |
| HUD | Insured by - Department of Housing and Urban Development. |

---

162 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(concluded)**

SHORT DURATION HIGH INCOME MUNICIPAL BOND FUND *June 30, 2025*

---

| | |
|:---|:---|
| MUNIPSA | SIFMA Municipal Swap Index Yield. |
| NR | Not Rated. |
| SIFMA | Insured by - Securities Industry and Financial Markets Association. |
| SOFR | Secured Overnight Financing Rate. |
| TRIPS | Tax Refund Intercept Programs. |
| YoY | Year on Year Inflation Rates. |

---

---

| | |
|:---|:---|
| † | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At June 30, 2025, the total value of Rule 144A securities was $589,775,092, which represents 29.88% of net assets. |
| <sup>#</sup> | Variable rate security. The interest rate represents the rate in effect at June 30, 2025. |
| <sup>(a)</sup> | Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date. |
| <sup>(b)</sup> | This investment has been rated by Fitch IBCA. |
| <sup>(c)</sup> | Defaulted (non-income producing security). |
| <sup>(d)</sup> | Securities purchased on a when-issued basis. |
| <sup>(e)</sup> | Municipal Bonds Held in Trust – Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund acquired the residual interest certificates. These securities serve as collateral in a financing transaction. See Note to Financial Statements for details of Municipal Bonds Held in Trust. |
| <sup>(f)</sup> | The interest rate reset date shown represents the date in which the Fund has the right to sell a Variable Rate Demand Note ("VRDN") back to the issuer for Principal Amount. The interest rate on the VRDN is generally reset daily based on the SIFMA Municipal Swap Index. |
| <sup>(g)</sup> | Other Assets and Liabilities – Net include net unrealized appreciation/(depreciation) on futures contracts as follows: |

---

**Futures Contracts at June 30, 2025:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Expiration** | **Contracts** | **Position** | **Notional<br> Amount** | **Notional<br> Value** | **Unrealized<br> Depreciation** |
| U.S. Long Bond | September 2025 | 233 | Short | $(26088261) | $(26904219) | $(815958) |

---

The following is a summary of the inputs used as of June 30, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Corporate Bonds | $– | $1481250 | $– | $1481250 |
| &nbsp;&nbsp;&nbsp;Municipal Bonds<sup>(3)</sup> |  | 1931031145 |  | 1931031145 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Variable Rate Demand Notes | – | 75615000 | – | 75615000 |
| Total | $– | $2008127395 | $– | $2008127395 |
| **Other Financial Instruments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets | $– | $– | $– | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities | (815958) | – | – | (815958) |
| Total | $(815958) | $– | $– | $(815958) |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

<sup>(3)</sup> Includes Municipal Bonds held in the Trust.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets.

*See Notes to Schedule of Investments.* 163

**Schedule of Investments (unaudited)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 100.09%** |  |  |  |  |  |  |
| **MUNICIPAL BONDS 100.09%** |  |  |  |  |  |  |
| **Corporate-Backed 2.55%** |  |  |  |  |  |  |
| California Infrastructure & Economic Development Bank - Desertxpress Enterprises LLC AMT<sup>†</sup> | 9.50% | <sup>#(a)</sup> | 1/1/2065 | NR | $3750000 | $3555761 |
| California Municipal Finance Authority - United Airlines Inc AMT | 4.00% |  | 7/15/2029 | BB | 4020000 | 3937743 |
| California Municipal Finance Authority - Waste Management Inc AMT | 4.125% | <sup>#(a)</sup> | 10/1/2041 | A- | 3000000 | 3000313 |
| California Pollution Control Financing Authority - Poseidon Resources Channelside LP AMT<sup>†</sup> | 5.00% |  | 11/21/2045 | Baa3 | 4410000 | 4188413 |
| California Pollution Control Financing Authority - Waste Management Inc AMT | 4.30% |  | 7/1/2040 | A- | 185000 | 185047 |
| San Francisco City & County Airport Comm-San Francisco International Airport - SFO Fuel Co LLC CA AMT | 5.00% |  | 1/1/2038 | A+ | 1715000 | 1742591 |
| *Total* |  |  |  |  |  | 16609868 |
| **Education 15.15%** |  |  |  |  |  |  |
| Alameda Unified School District- Alameda County CA GO | 5.00% |  | 8/1/2049 | AA | 1700000 | 1755373 |
| Alvord Unified School District CA GO (BAM) | 5.00% |  | 8/1/2052 | AA | 4000000 | 4113747 |
| Brentwood Union School District CA GO | 5.25% |  | 8/1/2052 | Aa3 | 2125000 | 2221519 |
| California Educational Facilities Authority - Art Center College of Design | 4.00% |  | 12/1/2037 | Baa1 | 1150000 | 1078436 |
| California Educational Facilities Authority - Art Center College of Design | 5.00% |  | 12/1/2044 | Baa1 | 3500000 | 3465582 |
| California Educational Facilities Authority - Chapman University | 5.00% |  | 4/1/2044 | A2 | 1000000 | 1039412 |
| California Educational Facilities Authority - Chapman University | 5.00% |  | 4/1/2045 | A2 | 1050000 | 1082300 |
| California Educational Facilities Authority - University of Southern California | 5.00% |  | 10/1/2055 | AA | 5000000 | 5149202 |
| California Educational Facilities Authority - University of the Pacific | 5.00% |  | 11/1/2053 | A2 | 2900000 | 2962007 |
| California Educational Facilities Authority - University of the Pacific | 5.00% |  | 11/1/2055 | A2 | 3750000 | 3819729 |
| California Enterprise Development Authority - Campbell Hall Episcopal | 5.00% |  | 8/1/2040 | A | 3000000 | 3181049 |

---

<br> 164 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| California Enterprise Development Authority - Castilleja School Foundation | 5.00% | 6/1/2049 | A | $2750000 | $2783002 |
| California Health Facilities Financing Authority - Art Center College of Design | 5.00% | 12/1/2048 | Baa1 | 1000000 | 971573 |
| California Infrastructure & Economic Development Bank<sup>(b)</sup> | 5.25% | 5/15/2059 | AA | 4000000 | 4168723 |
| California Infrastructure & Economic Development Bank - Equitable School Revolving Fund LLC Obligated Group | 5.00% | 11/1/2049 | A | 2750000 | 2725346 |
| California Infrastructure & Economic Development Bank - Equitable School Revolving Fund LLC Obligated Group | 5.00% | 11/1/2054 | A | 1500000 | 1464006 |
| California Infrastructure & Economic Development Bank - Equitable School Revolving Fund LLC Obligated Group | 5.00% | 11/1/2059 | A | 1520000 | 1471424 |
| California Municipal Finance Authority - Biola University Inc | 5.00% | 10/1/2032 | Baa2 | 400000 | 410464 |
| California Municipal Finance Authority - Biola University Inc | 5.00% | 10/1/2039 | Baa2 | 1000000 | 1008988 |
| California Municipal Finance Authority - California Baptist University<sup>†</sup> | 5.375% | 11/1/2045 | NR | 775000 | 773868 |
| California Municipal Finance Authority - Emerson College | 5.00% | 1/1/2042 | BBB+ | 4245000 | 4246734 |
| California Municipal Finance Authority - Samuel Merritt University | 5.25% | 6/1/2053 | A3 | 5500000 | 5685211 |
| California Municipal Finance Authority - SDORI Charter School Properties LLC<sup>†</sup> | 5.625% | 3/1/2045 | B+ | 500000 | 446227 |
| California Municipal Finance Authority - University of the Pacific | 3.00% | 11/1/2048 | NR | 115000 | 116909 |
| California Municipal Finance Authority - University of the Pacific | 3.00% | 11/1/2048 | A2 | 3885000 | 2713664 |
| California Municipal Finance Authority - University of the Pacific | 4.00% | 11/1/2042 | NR | 10000 | 10745 |
| California Municipal Finance Authority - University of the Pacific | 4.00% | 11/1/2042 | A2 | 1165000 | 1087813 |
| California Municipal Finance Authority - Westside Neighborhood School<sup>†</sup> | 5.90% | 6/15/2044 | BB | 1815000 | 1882886 |
| California School Finance Authority - Aspire Public Schools Obligated Group<sup>†</sup> | 5.00% | 8/1/2046 | BBB- | 3790000 | 3536415 |
| California School Finance Authority - Green Dot Public Schools Obligated Group<sup>†</sup> | 5.00% | 8/1/2045 | BBB- | 620000 | 598758 |

---

<br> *See Notes to Schedule of Investments.* 165

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |  |
| California School Finance Authority - Kipp SoCal Public Schools Obligated<sup>†</sup> | 5.00% |  | 7/1/2045 | BBB | $2190000 | $2112622 |
| California School Finance Authority - Kipp SoCal Public Schools Obligated<sup>†</sup> | 5.00% |  | 7/1/2047 | BBB | 4415000 | 4229004 |
| California State University | 5.50% |  | 11/1/2055 | Aa2 | 8000000 | 8641587 |
| Central Unified School District CA GO | 5.25% |  | 8/1/2052 | Aa3 | 2940000 | 3060922 |
| Montebello Unified School District CA GO (AG) | 5.50% |  | 8/1/2047 | AA | 2000000 | 2086252 |
| Morgan Hill Unified School District CA GO | 5.25% |  | 8/1/2040 | Aa1 | 1000000 | 1104651 |
| Rincon Valley Union School District CA GO | 5.00% |  | 8/1/2054 | AA | 2875000 | 2987811 |
| Santa Clarita Community College District CA GO | 5.25% |  | 8/1/2045 | AA | 1500000 | 1609984 |
| University of California | 5.00% |  | 5/15/2053 | AA | 2500000 | 2569271 |
| University of California | 5.00% |  | 5/15/2054 | AA | 2500000 | 2561212 |
| University of California | 5.25% |  | 5/15/2055 | AA | 1500000 | 1570499 |
| *Total* |  |  |  |  |  | 98504927 |
| **General Obligation 13.07%** |  |  |  |  |  |  |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 12/1/2053 | A2 | 1925000 | 2011383 |
| California Community Choice Financing Authority | 5.25% | <sup>#(a)</sup> | 1/1/2054 | Baa1 | 7595000 | 7962608 |
| California Community Choice Financing Authority | 5.50% | <sup>#(a)</sup> | 5/1/2054 | A2 | 4905000 | 5163201 |
| California State Public Works Board | 4.00% |  | 5/1/2046 | Aa3 | 2050000 | 1874724 |
| California State Public Works Board - State of California Department of General Services | 5.00% |  | 4/1/2049 | Aa3 | 1000000 | 1031822 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2046 | NR | 2000000 | 1711131 |
| Commonwealth of Puerto Rico GO | 5.75% |  | 7/1/2031 | NR | 165067 | 178154 |
| Dublin Unified School District CA GO | 3.00% |  | 8/1/2041 | AA+ | 2425000 | 1980782 |
| El Rancho Unified School District CA GO (BAM) | 5.75% |  | 8/1/2048 | AA | 1625000 | 1800389 |
| Imperial Community College District CA GO (AG) | 5.00% |  | 8/1/2054 | AA | 2500000 | 2573625 |
| Imperial Community College District CA GO (AG) | 5.25% |  | 8/1/2053 | AA | 1620000 | 1693002 |
| Irvine Facilities Financing Authority CA GO | 4.25% |  | 9/1/2050 | Aa1 | 1565000 | 1481819 |
| Las Virgenes Unified School District CA GO | 5.25% |  | 8/1/2051 | AA | 3000000 | 3193622 |

---

<br> 166 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  |  |  |
| Los Angeles Unified School District - Los Angeles Unified School District/CA GO | 5.25% | 7/1/2049 | Aa2 | $1625000 | $1712719 |
| Newport Mesa Unified School District CA GO | Zero Coupon | 8/1/2041 | Aaa | 1325000 | 639617 |
| Newport Mesa Unified School District CA GO | Zero Coupon | 8/1/2045 | Aaa | 1000000 | 384010 |
| North Orange County Community College District CA GO | 2.75% | 8/1/2036 | AA+ | 2000000 | 1756980 |
| Novato Unified School District CA GO | 3.00% | 8/1/2044 | Aa1 | 4765000 | 3713706 |
| Pajaro Valley Health Care District CA GO | 5.00% | 9/1/2046 | Ba2 | 2750000 | 2689527 |
| Peralta Community College District CA GO | 5.00% | 8/1/2054 | AA- | 1750000 | 1808879 |
| Ravenswood City School District CA GO (BAM) | 5.25% | 8/1/2053 | AA | 2000000 | 2095457 |
| Redlands Unified School District CA GO | 5.00% | 7/1/2054 | Aa2 | 2500000 | 2560215 |
| San Benito High School District CA GO | Zero Coupon | 8/1/2042 | Aa3 | 1795000 | 821804 |
| San Benito High School District CA GO | Zero Coupon | 8/1/2043 | Aa3 | 2600000 | 1127435 |
| San Diego Community College District CA GO | 5.00% | 8/1/2055 | AAA | 5000000 | 5229498 |
| San Diego Public Facilities Financing Authority CA | 5.25% | 10/15/2052 | AA- | 4125000 | 4289385 |
| Santa Monica-Malibu Unified School District CA GO | 3.00% | 8/1/2044 | AA+ | 1515000 | 1169509 |
| Santa Monica-Malibu Unified School District CA GO | 4.25% | 8/1/2052 | AA+ | 2000000 | 1882267 |
| Southwestern Community College District CA GO | Zero Coupon | 8/1/2041 | Aa2 | 1100000 | 553568 |
| State of California GO | 5.00% | 3/1/2044 | Aa2 | 1000000 | 1059712 |
| State of California GO | 5.00% | 9/1/2053 | Aa2 | 1000000 | 1033596 |
| State of California GO | 5.00% | 3/1/2055 | Aa2 | 4000000 | 4142383 |
| State of California GO | 5.25% | 9/1/2053 | Aa2 | 3000000 | 3150869 |
| State of California GO | 5.25% | 8/1/2054 | Aa2 | 1250000 | 1317394 |
| State of California GO | 5.50% | 8/1/2054 | Aa2 | 3600000 | 3868862 |
| Sunnyvale School District CA GO | 5.00% | 9/1/2056 | AAA | 3500000 | 3635466 |
| Washington Township Health Care District CA GO | 5.25% | 8/1/2048 | AA | 1625000 | 1719945 |
| *Total* |  |  |  |  | 85019065 |

---

<br> *See Notes to Schedule of Investments.* 167

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care 15.74%** |  |  |  |  |  |
| Antelope Valley Healthcare District Obligated Group CA | 5.00% | 3/1/2026 | BBB | $545000 | $545894 |
| Antelope Valley Healthcare District Obligated Group CA | 5.25% | 3/1/2036 | BBB | 1000000 | 1004824 |
| California Community Choice Financing Authority - Providence St Joseph Health Obligated Group | 3.00% | 10/1/2041 | A | 2280000 | 1820232 |
| California Community Choice Financing Authority - Providence St Joseph Health Obligated Group | 3.00% | 10/1/2047 | A | 1825000 | 1296621 |
| California Community Choice Financing Authority - Providence St Joseph Health Obligated Group | 5.00% | 10/1/2044 | A | 2410000 | 2409177 |
| California Health Facilities Financing Authority - Cedars-Saini Medical Center Obligated Group | 3.00% | 8/15/2051 | AA- | 4705000 | 3266170 |
| California Health Facilities Financing Authority - Children's Hospital Los Angeles Obligated Group | 5.00% | 10/1/2030 | A | 1470000 | 1472145 |
| California Health Facilities Financing Authority - Children's Hospital Los Angeles Obligated Group | 5.00% | 8/15/2042 | Baa3 | 1250000 | 1222861 |
| California Health Facilities Financing Authority - Children's Hospital Los Angeles Obligated Group | 5.00% | 8/15/2047 | Baa3 | 3950000 | 3802729 |
| California Health Facilities Financing Authority - Children's Hospital of Orange County Obligated Group | 2.125% | 11/1/2041 | AA | 2500000 | 1637463 |
| California Health Facilities Financing Authority - Children's Hospital of Orange County Obligated Group | 3.00% | 11/1/2038 | AA | 3000000 | 2675927 |
| California Health Facilities Financing Authority - Children's Hospital of Orange County Obligated Group | 5.00% | 11/1/2054 | AA | 4000000 | 4097454 |
| California Health Facilities Financing Authority - CommonSpirit Health Obligated Group | 4.00% | 4/1/2035 | A- | 3380000 | 3391299 |
| California Health Facilities Financing Authority - CommonSpirit Health Obligated Group | 5.00% | 12/1/2044 | A- | 1485000 | 1519866 |

---

<br> 168 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| California Health Facilities Financing Authority - CommonSpirit Health Obligated Group | 5.00% |  | 12/1/2054 | A- | $4405000 | $4411226 |
| California Health Facilities Financing Authority - El Camino Healthcare Obligated Group | 5.25% |  | 2/1/2048 | AA | 3000000 | 3146971 |
| California Health Facilities Financing Authority - Providence St Joseph Health Obligated Group<sup>(c)</sup> | 5.25% | <sup>#(a)</sup> | 10/1/2050 | A | 3000000 | 3312484 |
| California Health Facilities Financing Authority - Scripps Health Obligated Group | 5.00% |  | 11/15/2044 | AA- | 9000000 | 9345072 |
| California Health Facilities Financing Authority - Stanford Health Care Obligated Group | 5.25% |  | 8/15/2054 | Aa2 | 3500000 | 3662312 |
| California Health Facilities Financing Authority - Sutter Health Obligated Group | 5.00% |  | 11/15/2038 | A+ | 2250000 | 2292061 |
| California Infrastructure & Economic Development Bank - Roseville Sustainable Energy Partner LLC | 5.25% |  | 7/1/2049 | BBB+ | 2450000 | 2456213 |
| California Municipal Finance Authority | 4.00% |  | 8/15/2037 | A- | 1000000 | 972609 |
| California Municipal Finance Authority - Community Hospitals of Central California Obligated Group | 5.00% |  | 2/1/2037 | A3 | 2000000 | 2005240 |
| California Municipal Finance Authority - Eisenhower Medical Center | 5.00% |  | 7/1/2036 | Baa2 | 1580000 | 1587168 |
| California Municipal Finance Authority - Palomar Health Obligated Group COPS (AG) | 5.25% |  | 11/1/2052 | AA | 1000000 | 1017975 |
| California Municipal Finance Authority - PRS-California Obligated Group | 5.00% |  | 4/1/2044 | BBB+ <sup>(d)</sup> | 1415000 | 1419177 |
| California Municipal Finance Authority (AG) | 4.00% |  | 2/1/2051 | AA | 1000000 | 864269 |
| California Public Finance Authority - Hazelden Betty Ford Foundation | 5.00% |  | 11/1/2054 | Baa1 | 2000000 | 1986809 |
| California Public Finance Authority - Kendal At Ventura<sup>†</sup> | 10.00% |  | 5/15/2028 | NR | 500000 | 511919 |
| California Public Finance Authority - QSH/MB LLC<sup>†</sup> | 6.75% |  | 7/1/2065 | NR | 990000 | 1035373 |
| California Statewide Communities Development Authority - HumanGood California Obligated Group | 5.00% |  | 10/1/2045 | A <sup>(d)</sup> | 1000000 | 985104 |
| California Statewide Communities Development Authority - John Muir Health Obligated Group | 5.25% |  | 12/1/2054 | A+ | 3850000 | 3941875 |

---

<br> *See Notes to Schedule of Investments.* 169

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| California Statewide Communities Development Authority - Loma Linda University Medical Center Obligated Group<sup>†</sup> | 5.25% | 12/1/2048 | BB | $1395000 | $1356255 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.00% | 12/1/2026 | BB | 2335000 | 2360974 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.00% | 12/1/2041 | BB | 2350000 | 2280721 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group | 5.25% | 12/1/2034 | BB | 2150000 | 2151088 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group | 5.50% | 12/1/2054 | BB | 2225000 | 2190090 |
| California Statewide Communities Development Authority - Loma Linda University Medical Obligated Group<sup>†</sup> | 5.50% | 12/1/2058 | BB | 2645000 | 2585485 |
| Los Angeles County Public Works Financing Authority - County of Los Angeles CA | 5.50% | 12/1/2053 | AA+ | 2000000 | 2138409 |
| Palomar Health Obligated Group CA | 5.00% | 11/1/2036 | B | 3555000 | 3057015 |
| Palomar Health Obligated Group CA | 5.00% | 11/1/2039 | B | 4750000 | 3835328 |
| Regents of the University of California Medical Center Pooled Revenue | 3.50% | 5/15/2054 | AA- | 4000000 | 3120071 |
| Washington Township Health Care District CA | 5.75% | 7/1/2053 | Baa3 | 2100000 | 2160121 |
| *Total* |  |  |  |  | 102352076 |
| **Housing 6.26%** |  |  |  |  |  |
| California Community Housing Agency Arbors Apartments<sup>†</sup> | 5.00% | 8/1/2050 | NR | 965000 | 890949 |
| California Enterprise Development Authority - Provident Group-Pomona Properties LLC | 5.00% | 1/15/2045 | Baa3 | 3500000 | 3505134 |
| California Enterprise Development Authority - Provident Group-SDSU Properties LLC | 5.00% | 8/1/2040 | Baa3 | 1625000 | 1651552 |
| California Enterprise Development Authority - Provident Group-SDSU Properties LLC | 5.00% | 8/1/2050 | Baa3 | 2030000 | 2024547 |

---

<br> 170 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Housing (continued)** |  |  |  |  |  |
| California Enterprise Development Authority - Provident Group-SDSU Properties LLC | 5.00% | 8/1/2055 | Baa3 | $1075000 | $1074896 |
| California Housing Finance Agency | 3.25% | 8/20/2036 | BBB | 8016311 | 7477845 |
| California Housing Finance Agency | 3.50% | 11/20/2035 | BBB+ | 2251620 | 2103055 |
| California Municipal Finance Authority - Bowles Hall Foundation | 5.00% | 6/1/2050 | Baa3 | 500000 | 488239 |
| California Municipal Finance Authority - Caritas Corp CMFA Mobile Home Park Financing 2024 Portfolio | 5.00% | 8/15/2049 | A- | 2230000 | 2237329 |
| California Municipal Finance Authority - Caritas Corp CMFA Mobile Home Park Financing 2024 Portfolio | 5.00% | 8/15/2054 | A- | 2000000 | 1984971 |
| California Municipal Finance Authority - CHF-Davis II LLC (BAM) | 3.00% | 5/15/2051 | AA | 2500000 | 1822843 |
| California Municipal Finance Authority - CHF-Riverside I LLC | 5.00% | 5/15/2043 | Baa3 | 3000000 | 2988869 |
| California Public Finance Authority - P3 Irvine SL Holdings LLC Obligated Group<sup>†</sup> | 6.375% | 6/1/2059 | NR | 2000000 | 1803032 |
| California Public Finance Authority - P3 Irvine SL Holdings LLC Obligated Group<sup>†</sup> | 6.50% | 6/1/2054 | NR | 1000000 | 936143 |
| California Statewide Communities Development Authority - CHF-Irvine LLC | 5.00% | 5/15/2035 | Baa1 | 3100000 | 3120953 |
| California Statewide Communities Development Authority - CHF-Irvine LLC | 5.00% | 5/15/2050 | Baa1 | 1400000 | 1399952 |
| CSCDA Community Improvement Authority Orange Portfolio CA<sup>†</sup> | 3.00% | 3/1/2057 | NR | 2000000 | 1293091 |
| CSCDA Community Improvement Authority Parallel-Anaheim CA<sup>†</sup> | 4.00% | 8/1/2056 | NR | 980000 | 839918 |
| CSCDA Community Improvement Authority Pasadena Portfolio CA<sup>†</sup> | 2.65% | 12/1/2046 | NR | 2320000 | 1785839 |
| CSCDA Community Improvement Authority Westgate Apartments CA<sup>†</sup> | 3.00% | 6/1/2047 | NR | 1500000 | 1004676 |
| CSCDA Community Improvement Authority Westgate Apartments CA<sup>†</sup> | 4.00% | 6/1/2057 | NR | 1000000 | 297668 |
| *Total* |  |  |  |  | 40731501 |
| **Lease Obligations 1.51%** |  |  |  |  |  |
| California State Public Works Board | 4.00% | 11/1/2046 | Aa3 | 2100000 | 1918520 |
| California State Public Works Board | 5.00% | 4/1/2050 | Aa3 | 2000000 | 2062363 |
| Pasadena Public Financing Authority - City of Pasadena CA | Zero Coupon | 6/1/2047 | AA+ | 1000000 | 335593 |

---

<br> *See Notes to Schedule of Investments.* 171

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Lease Obligations (continued)** |  |  |  |  |  |  |
| Pasadena Public Financing Authority - City of Pasadena CA | Zero Coupon |  | 6/1/2048 | AA+ | $1125000 | $358955 |
| San Diego Public Facilities Financing Authority - City of San Diego CA | 5.00% |  | 10/15/2054 | AA- | 5000000 | 5119387 |
| *Total* |  |  |  |  |  | 9794818 |
| **Other Revenue 0.73%** |  |  |  |  |  |  |
| California Infrastructure & Economic Development Bank - Los Angeles County Museum of Natural History Foundation | 4.00% |  | 7/1/2050 | A2 | 2625000 | 2327812 |
| California School Finance Authority - Green Dot Public Schools Obligated Group<sup>†</sup> | 5.00% |  | 8/1/2038 | BBB- | 1000000 | 1009275 |
| Commonwealth of Puerto Rico GO | Zero Coupon | <sup>#(a)</sup> | 11/1/2051 | NR | 2253618 | 1425413 |
| *Total* |  |  |  |  |  | 4762500 |
| **Pollution Control 0.24%** |  |  |  |  |  |  |
| California Municipal Finance Authority - Republic Services Inc AMT | 3.875% | <sup>#(a)</sup> | 3/1/2054 | A- | 1600000 | 1526058 |
| **Power 0.50%** |  |  |  |  |  |  |
| Southern California Public Power Authority | 5.25% |  | 7/1/2053 | Aa2 | 3180000 | 3270700 |
| **Pre-Refunded 0.10%** |  |  |  |  |  |  |
| M-S-R Energy Authority CA | 6.50% |  | 11/1/2039 | BBB+ | 555000 | 664029 |
| **Special Tax 3.14%** |  |  |  |  |  |  |
| California Statewide Communities Development Authority | 5.00% |  | 9/2/2054 | BBB- | 3000000 | 3015323 |
| City of Fontana Community Facilities District No 109 CA | 5.00% |  | 9/1/2049 | NR | 1000000 | 999374 |
| City of Fontana Community Facilities District No 109 CA | 5.00% |  | 9/1/2054 | NR | 1400000 | 1378946 |
| City of Irvine CA Special Tax (BAM) | 5.25% |  | 9/1/2053 | AA | 3000000 | 3111425 |
| City of Roseville Westpark Community Facilities District No 1 CA Special Tax | 5.00% |  | 9/1/2031 | NR | 1000000 | 1001165 |
| County of Los Angeles Community Facilities District No. CA Special Tax | 5.00% |  | 9/1/2052 | NR | 1500000 | 1499117 |
| County of Orange CA Community Facilities District No 2023-1 | 5.50% |  | 8/15/2053 | NR | 1375000 | 1410549 |
| Fairfield Community Facilities District - City of Fairfield CA Community Facilities District No 2023-1 Area No 1 CA | 5.00% |  | 9/1/2054 | NR | 2000000 | 1963965 |

---

<br> 172 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Special Tax (continued)** |  |  |  |  |  |
| Inland Valley Development Agency CA Tax Allocation | 5.25% | 9/1/2037 | A+ | $1325000 | $1335555 |
| Poway Unified School District Public Financing Authority CA Special Tax (BAM) | 5.00% | 9/1/2035 | AA+ | 1765000 | 1766688 |
| River Islands Public Financing Authority CA Special Tax (AG) | 5.25% | 9/1/2052 | AA | 1000000 | 1016399 |
| Tejon Ranch Public Facilities Finance Authority - Tejon Ranch Public Facilities Finance Authority Community Facs District No 2008-1 CA | 5.00% | 9/1/2054 | NR | 2000000 | 1925869 |
| *Total* |  |  |  |  | 20424375 |
| **Tax Revenue 3.22%** |  |  |  |  |  |
| Compton Community Redevelopment Agency Successor Agency CA Tax Allocation (AG) | 5.00% | 8/1/2037 | AA | 1700000 | 1839225 |
| Matching Fund Special Purpose Securitization Corp. - United States Virgin Islands Federal Excise Tax | 5.00% | 10/1/2026 | NR | 1925000 | 1941169 |
| Matching Fund Special Purpose Securitization Corp. - United States Virgin Islands Federal Excise Tax | 5.00% | 10/1/2039 | NR | 2000000 | 1965002 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon | 7/1/2051 | NR | 1283000 | 299978 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 503000 | 472486 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 4283000 | 4023175 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.536% | 7/1/2053 | NR | 7000 | 6090 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.75% | 7/1/2053 | NR | 4798854 | 4418460 |
| River Islands Public Financing Authority Community Facs District No 2023-1 Area 2 CA | 5.00% | 9/1/2048 | NR | 1650000 | 1596845 |
| River Islands Public Financing Authority Community Facs District No 2023-1 Area 2 CA | 5.00% | 9/1/2054 | NR | 1000000 | 957184 |
| San Diego Unified School District CA GO | 3.00% | 7/1/2044 | Aa2 | 4400000 | 3425962 |
| *Total* |  |  |  |  | 20945576 |

---

<br> *See Notes to Schedule of Investments.* 173

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Taxable Revenue - Water & Sewer 3.00%** |  |  |  |  |  |
| California Pollution Control Financing Authority - Poseidon Resources Channelside LP AMT<sup>†</sup> | 5.00% | 11/21/2045 | Baa3 | $1100000 | $1091694 |
| San Diego Public Facilities Financing Authority - City of San Diego CA Sewer Utility Revenue CA | 5.00% | 5/15/2054 | AA | 5000000 | 5140728 |
| San Francisco City & County Public Utilities Commission Wastewater Revenue<sup>(b)</sup> | 5.00% | 10/1/2054 | AA | 10000000 | 10185291 |
| San Francisco City & County Public Utilities Commission Wastewater Revenue CA | 5.00% | 10/1/2054 | AA | 3000000 | 3055587 |
| *Total* |  |  |  |  | 19473300 |
| **Tobacco 1.83%** |  |  |  |  |  |
| California Statewide Financing Authority | Zero Coupon | 6/1/2046 | NR | 8675000 | 2129077 |
| California Statewide Financing Authority<sup>†</sup> | Zero Coupon | 6/1/2055 | NR | 10000000 | 590754 |
| Golden State Tobacco Securitization Corp. CA | Zero Coupon | 6/1/2066 | NR | 10000000 | 1060421 |
| Inland Empire Tobacco Securitization Corp. - Inland Empire Tobacco Securitization Corp CA | Zero Coupon | 6/1/2036 | CCC | 1000000 | 449999 |
| Inland Empire Tobacco Securitization Corp. CA<sup>†</sup> | Zero Coupon | 6/1/2057 | CCC | 3000000 | 181768 |
| Silicon Valley Tobacco Securitization Authority CA | Zero Coupon | 6/1/2041 | NR | 5000000 | 1773256 |
| Silicon Valley Tobacco Securitization Authority CA | Zero Coupon | 6/1/2056 | NR | 2250000 | 196752 |
| Tobacco Securitization Authority of Southern California - San Diego County Tobacco Asset Securitization Corp | Zero Coupon | 6/1/2046 | CCC- | 1000000 | 190745 |
| Tobacco Securitization Authority of Southern California - San Diego County Tobacco Asset Securitization Corp | 5.00% | 6/1/2048 | BBB+ | 5475000 | 5343438 |
| *Total* |  |  |  |  | 11916210 |
| **Transportation 19.02%** |  |  |  |  |  |
| Alameda Corridor Transportation Authority CA (AG) | Zero Coupon | 10/1/2051 | AA | 1000000 | 558177 |
| Alameda Corridor Transportation Authority CA (AG) | Zero Coupon | 10/1/2053 | AA | 5000000 | 1196670 |

---

<br> 174 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |
| Alameda Corridor Transportation Authority CA (AG) | 5.00% | 10/1/2052 | AA | $6500000 | $6563772 |
| Bay Area Toll Authority CA | 5.00% | 4/1/2045 | AA | 1200000 | 1272296 |
| Bay Area Toll Authority CA | 5.00% | 4/1/2054 | AA | 2720000 | 2793785 |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign CA AMT | 5.25% | 7/1/2049 | A | 1365000 | 1389094 |
| Burbank-Glendale-Pasadena Airport Authority Brick Campaign CA AMT | 5.25% | 7/1/2054 | A | 5350000 | 5423089 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 4.00% | 12/31/2047 | BB+ <sup>(d)</sup> | 4650000 | 3873081 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% | 12/31/2034 | BB+ <sup>(d)</sup> | 1700000 | 1720321 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% | 12/31/2035 | BB+ <sup>(d)</sup> | 1205000 | 1216123 |
| California Municipal Finance Authority - LAX Integrated Express Solutions LLC AMT | 5.00% | 12/31/2043 | BB+ <sup>(d)</sup> | 3565000 | 3484566 |
| City of Fresno Airport Revenue CA (BAM) AMT | 5.00% | 7/1/2048 | AA | 5220000 | 5183866 |
| City of Long Beach Airport System Revenue CA (AG) AMT | 5.25% | 6/1/2047 | AA | 1330000 | 1343961 |
| City of Los Angeles Department of Airports CA | 5.25% | 5/15/2051 | Aa3 | 3000000 | 3153603 |
| City of Los Angeles Department of Airports CA AMT | 4.00% | 5/15/2049 | AA- | 2000000 | 1749754 |
| City of Los Angeles Department of Airports CA AMT | 5.00% | 5/15/2032 | NR | 105000 | 114787 |
| City of Los Angeles Department of Airports CA AMT | 5.00% | 5/15/2032 | AA- | 1895000 | 2031971 |
| City of Los Angeles Department of Airports CA AMT | 5.25% | 5/15/2045 | Aa3 | 2000000 | 2063895 |
| City of Los Angeles Department of Airports CA AMT | 5.25% | 5/15/2048 | AA- | 2000000 | 2043677 |
| City of Los Angeles Department of Airports CA AMT | 5.50% | 5/15/2036 | AA | 1100000 | 1190434 |
| City of Los Angeles Department of Airports CA AMT | 5.50% | 5/15/2055 | Aa3 | 5250000 | 5489649 |
| County of Sacramento Airport System Revenue - County of Sacramento CA Airport System Revenue CA | 5.25% | 7/1/2054 | A+ | 3500000 | 3640175 |
| County of Sacramento Airport System Revenue CA | 5.00% | 7/1/2049 | A+ | 2000000 | 2050411 |

---

<br> *See Notes to Schedule of Investments.* 175

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |
| County of Sacramento Airport System Revenue CA | 5.00% | 7/1/2054 | A+ | $2000000 | $2037865 |
| Foothill-Eastern Transportation Corridor Agency CA | Zero Coupon | 1/15/2033 | A | 1500000 | 1145025 |
| Foothill-Eastern Transportation Corridor Agency CA | 3.50% | 1/15/2053 | A | 3600000 | 2848917 |
| Foothill-Eastern Transportation Corridor Agency CA | 3.95% | 1/15/2053 | A | 2825000 | 2434588 |
| Foothill-Eastern Transportation Corridor Agency CA | 6.85% | 1/15/2042 | A | 1150000 | 1306941 |
| Foothill-Eastern Transportation Corridor Agency CA (AG) | 3.95% | 1/15/2053 | AA | 2500000 | 2195821 |
| Norman Y Mineta San Jose International Airport SJC CA AMT | 5.00% | 3/1/2031 | A | 1750000 | 1873891 |
| Port Commission of the City &County of San Francisco CA AMT | 5.00% | 3/1/2030 | Aa3 | 1415000 | 1417284 |
| San Diego County Regional Airport Authority CA AMT | 5.00% | 7/1/2053 | Aa3 | 3615000 | 3590119 |
| San Diego County Regional Airport Authority CA AMT<sup>(c)</sup> | 5.25% | 7/1/2045 | Aa3 | 4700000 | 4862914 |
| San Francisco City & County Airport Comm-San Francisco International Airport CA | 5.00% | 5/1/2042 | A1 | 3180000 | 3360560 |
| San Francisco City & County Airport Comm-San Francisco International Airport CA AMT | 5.00% | 5/1/2031 | A1 | 6500000 | 7010843 |
| San Francisco City & County Airport Comm-San Francisco International Airport CA AMT | 5.00% | 5/1/2039 | A1 | 2695000 | 2789082 |
| San Francisco City & County Airport Comm-San Francisco International Airport CA AMT | 5.00% | 5/1/2052 | A1 | 7100000 | 6992735 |
| San Francisco City & County Airport Comm-San Francisco International Airport CA AMT | 5.25% | 5/1/2049 | A1 | 3600000 | 3636735 |
| San Francisco City & County Airport Comm-San Francisco International Airport CA AMT | 5.50% | 5/1/2055 | AA- | 3000000 | 3115140 |
| San Francisco City & County Airport Comm-San Francisco International Airport CA AMT | 5.75% | 5/1/2048 | A1 | 2000000 | 2105188 |

---

<br> 176 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| San Joaquin Hills Transportation Corridor Agency CA | 4.00% |  | 1/15/2044 | A | $3932000 | $3553129 |
| San Joaquin Hills Transportation Corridor Agency CA | 4.00% |  | 1/15/2050 | A | 1825000 | 1589918 |
| San Joaquin Hills Transportation Corridor Agency CA | 5.25% |  | 1/15/2044 | A- | 2850000 | 2850502 |
| San Joaquin Hills Transportation Corridor Agency CA | 5.25% |  | 1/15/2049 | A- | 2505000 | 2505348 |
| San Joaquin Hills Transportation Corridor Agency CA (NATL) | Zero Coupon |  | 1/15/2036 | Baa2 | 1450000 | 937468 |
| *Total* |  |  |  |  |  | 123707170 |
| **Utilities 14.03%** |  |  |  |  |  |  |
| California Community Choice Financing Authority | 4.00% | <sup>#(a)</sup> | 2/1/2052 | A1 | 4000000 | 3977794 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 2/1/2054 | A1 | 2500000 | 2632575 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 1/1/2055 | A1 | 6850000 | 7081080 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 2/1/2055 | A1 | 5775000 | 6105575 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 2/1/2055 | Aa3 | 3000000 | 3188851 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 8/1/2055 | A2 | 3000000 | 3163792 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 1/1/2056 | A1 | 5975000 | 6171447 |
| California Community Choice Financing Authority | 5.00% | <sup>#(a)</sup> | 3/1/2056 | Aa3 | 4500000 | 4781853 |
| California Pollution Control Financing Authority - Poseidon Resources Channelside LP<sup>†</sup> | 5.00% |  | 11/21/2045 | Baa3 | 3870000 | 3840777 |
| Central Valley Energy Authority CA | 5.00% | <sup>#(a)</sup> | 12/1/2055 | Aa3 | 5570000 | 5941659 |
| City of Burbank Electric Revenue CA | 5.00% |  | 6/1/2053 | AA- | 3790000 | 3888094 |
| City of Glendale Electric Revenue CA | 5.00% |  | 2/1/2054 | A+ | 3790000 | 3795626 |
| City of Glendale Electric Revenue CA | 5.00% |  | 2/1/2054 | A+ | 2000000 | 2002969 |
| City of San Francisco Public Utilities Commission Water Revenue CA | 5.25% |  | 11/1/2052 | Aa2 | 1000000 | 1042151 |
| Guam Waterworks Authority Water And Wastewater System | 5.00% |  | 7/1/2042 | A- | 1500000 | 1517052 |

---

<br> *See Notes to Schedule of Investments.* 177

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |
| Indio Electric Financing Authority - Imperial Irrigation District Electric System Revenue CA | 5.25% |  | 1/1/2053 | A1 | $3685000 | $3845027 |
| Long Beach Bond Finance Authority CA | 4.504%<br> (3 mo. USD Term SOFR \* 0.67 + 1.43% |)<sup>#</sup> | 11/15/2026 | A1 | 1025000 | 1031671 |
| Los Angeles Department of Water & Power System Revenue CA | 5.00% |  | 7/1/2035 | Aa2 | 4000000 | 4395126 |
| Los Angeles Department of Water & Power System Revenue CA (BAM) | 5.00% |  | 7/1/2053 | AA | 3500000 | 3545926 |
| Northern California Energy Authority | 5.00% | <sup>#(a)</sup> | 12/1/2054 | Aa3 | 2000000 | 2103400 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 4.00% |  | 7/1/2042 | NR | 700000 | 609351 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority PR<sup>†</sup> | 4.00% |  | 7/1/2047 | NR | 1000000 | 820190 |
| Sacramento Municipal Utility District CA | 5.00% |  | 11/15/2054 | Aa2 | 1000000 | 1031085 |
| Southern California Public Power Authority | 4.51%<br> (3 mo. USD Term SOFR \* 0.67 + 1.47% |)<sup>#</sup> | 11/1/2038 | A2 | 815000 | 784395 |
| Southern California Public Power Authority | 5.00% |  | 11/1/2033 | A2 | 3625000 | 3834826 |
| Southern California Public Power Authority - City of Anaheim Electric System Revenue | 5.00% | <sup>#(a)</sup> | 4/1/2055 | A2 | 5500000 | 5786734 |
| Southern California Public Power Authority - Los Angeles Department of Water & Power | 5.00% |  | 7/1/2053 | Aa2 | 2000000 | 2023682 |
| Transbay Joint Powers Authority CA Tax Allocation | 5.00% |  | 10/1/2032 | BBB+ <sup>(d)</sup> | 1090000 | 1129330 |
| Transbay Joint Powers Authority CA Tax Allocation | 5.00% |  | 10/1/2034 | BBB+ <sup>(d)</sup> | 300000 | 308185 |
| Transbay Joint Powers Authority CA Tax Allocation | 5.00% |  | 10/1/2035 | BBB+ <sup>(d)</sup> | 200000 | 204523 |
| Transbay Joint Powers Authority CA Tax Allocation | 5.00% |  | 10/1/2038 | BBB+ <sup>(d)</sup> | 650000 | 653753 |
| *Total* |  |  |  |  |  | 91238499 |
| *Total Municipal Bonds* (cost $672,785,753) |  |  |  |  |  | 650940672 |

---

<br> 178 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest**<br> **Rate**<sup>#</sup> | **Interest**<br> **Rate**<br> **Reset**<br> **Date**<sup>(e)</sup> | **Final<br> Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **SHORT-TERM INVESTMENTS 0.89%** |  |  |  |  |  |  |
| **Variable Rate Demand Notes 0.89%** |  |  |  |  |  |  |
| **Education 0.31%** |  |  |  |  |  |  |
| University of California | 2.350% | 7/1/2025 | 5/15/2048 | AA | $2000000 | $2000000 |
| **Transportation 0.58%** |  |  |  |  |  |  |
| Bay Area Toll Authority CA | 2.950% | 7/1/2025 | 4/1/2055 | AA+ | 3775000 | 3775000 |
| *Total Short-Term Investments* (cost $5,775,000) |  |  |  |  |  | 5775000 |
| *Total Investments in Securities 100.98%* (cost $678,560,753) | *Total Investments in Securities 100.98%* (cost $678,560,753) |  |  |  |  | 656715672 |
| *Other Assets and Liabilities – Net*<sup>(f)</sup> *(0.98)%* |  |  |  |  |  | (6389350) |
| *Net Assets 100.00%* |  |  |  |  |  | $650326322 |

---

---

| | |
|:---|:---|
| AG | Insured by - Assured Guaranty, inc. |
| AMT | Income from the security may be subject to Alternative Minimum Tax. |
| BAM | Insured by - Build America Mutual. |
| COPS | Certificates of Participation. |
| NATL | Insured by - National Public Finance Guarantee Corporation. |
| NR | Not Rated. |
| SOFR | Secured Overnight Financing Rate. |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At June 30, 2025, the total value of Rule 144A securities was $48,449,806, which represents 7.45% of net assets. |
| <sup>#</sup> | Variable rate security. The interest rate represents the rate in effect at June 30, 2025. |
| <sup>(a)</sup> | Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date. |
| <sup>(b)</sup> | Municipal Bonds Held in Trust – Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund acquired the residual interest certificates. These securities serve as collateral in a financing transaction. See Note to Financial Statements for details of Municipal Bonds Held in Trust. |
| <sup>(c)</sup> | Securities purchased on a when-issued basis. |
| <sup>(d)</sup> | This investment has been rated by Fitch IBCA. |
| <sup>(e)</sup> | The interest rate reset date shown represents the date in which the Fund has the right to sell a Variable Rate Demand Note ("VRDN") back to the issuer for Principal Amount. The interest rate on the VRDN is generally reset daily based on the SIFMA Municipal Swap Index. |
| <sup>(f)</sup> | Other Assets and Liabilities – Net include net unrealized appreciation/(depreciation) on futures contracts as follows: |

---

**Futures Contracts at June 30, 2025:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Expiration** | **Contracts** | **Position** | **Notional**<br> **Amount** | **Notional**<br> **Value** | **Unrealized**<br> **Depreciation** |
| U.S. Long Bond | September 2025 | 58 | Short | $(6466257) | $(6697187) | $(230930) |

---

<br> *See Notes to Schedule of Investments.* 179

**Schedule of Investments (unaudited)(concluded)**

CALIFORNIA TAX FREE FUND *June 30, 2025*

The following is a summary of the inputs used as of June 30, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Municipal Bonds<sup>(3)</sup> | $– | $650940672 | $– | $650940672 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Variable Rate Demand Notes | – | 5775000 | – | 5775000 |
| Total | $– | $656715672 | $– | $656715672 |
| **Other Financial Instruments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assets | $– | $– | $– | $– |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liabilities | (230930) | – | – | (230930) |
| Total | $(230930) | $– | $– | $(230930) |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

<sup>(3)</sup> Includes Municipal Bonds held in the Trust.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets.

180 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)**

NEW JERSEY TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 99.08%** |  |  |  |  |  |
| **MUNICIPAL BONDS 99.08%** |  |  |  |  |  |
| **Corporate-Backed 2.05%** |  |  |  |  |  |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC (AG) AMT | 5.00% | 1/1/2031 | AA | $225000 | $225821 |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC AMT | 5.00% | 1/1/2028 | A- | 100000 | 100113 |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC AMT | 5.50% | 1/1/2026 | A- | 250000 | 250328 |
| New Jersey Economic Development Authority - Port Newark Container Terminal LLC AMT | 5.00% | 10/1/2037 | Baa2 | 295000 | 297078 |
| New Jersey Economic Development Authority - United Airlines Inc | 5.25% | 9/15/2029 | BB | 1435000 | 1435501 |
| New Jersey Economic Development Authority - United Airlines Inc | 5.50% | 6/1/2033 | BB | 650000 | 650356 |
| New Jersey Infrastructure Bank | 2.125% | 9/1/2046 | AAA | 400000 | 239797 |
| *Total* |  |  |  |  | 3198994 |
| **Education 15.65%** |  |  |  |  |  |
| Camden County Improvement Authority - KIPP Cooper Norcross Obligated Group NJ | 6.00% | 6/15/2047 | BBB | 500000 | 518116 |
| Gloucester County Improvement Authority - Rowan University NJ (BAM) | 5.00% | 7/1/2054 | AA | 1000000 | 1010545 |
| Hudson County Improvement Authority NJ | 4.00% | 6/1/2049 | AA | 500000 | 448035 |
| Middlesex County Improvement Authority - Rutgers The State University of New Jersey | 5.00% | 8/15/2053 | Aa3 | 2055000 | 2104965 |
| Middlesex County Improvement Authority NJ GTD | 4.00% | 8/15/2053 | AAA | 1000000 | 886739 |
| Montclair State University, Inc. NJ (AG)<sup>(a)</sup> | 5.00% | 7/1/2036 | AA | 250000 | 277183 |
| Montclair State University, Inc. NJ (AG)<sup>(a)</sup> | 5.00% | 7/1/2041 | AA | 200000 | 210441 |
| New Jersey Economic Development Authority - Provident Group-Montclair Properties LLC (AG) | 5.00% | 6/1/2042 | AA | 500000 | 500409 |
| New Jersey Educational Facilities Authority | 5.00% | 9/1/2036 | A2 | 1145000 | 1240056 |
| New Jersey Educational Facilities Authority | 5.25% | 9/1/2053 | A2 | 750000 | 768162 |
| New Jersey Educational Facilities Authority - Montclair State University Inc (AG) | 5.00% | 7/1/2041 | AA | 845000 | 891958 |

---

*See Notes to Schedule of Investments.* 181

**Schedule of Investments (unaudited)(continued)**

NEW JERSEY TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |  |
| New Jersey Educational Facilities Authority - Montclair State University Inc (AG) | 5.00% |  | 7/1/2044 | AA | $500000 | $515345 |
| New Jersey Educational Facilities Authority - New Jersey City University Inc (AG) | 4.00% |  | 7/1/2036 | AA | 745000 | 706161 |
| New Jersey Educational Facilities Authority - Ramapo College of New Jersey (AG) | 4.00% |  | 7/1/2041 | AA | 545000 | 511274 |
| New Jersey Educational Facilities Authority - Seton Hall University | 4.00% |  | 7/1/2046 | BBB+ | 545000 | 458231 |
| New Jersey Educational Facilities Authority - Seton Hall University | 5.00% |  | 7/1/2034 | BBB+ | 335000 | 337421 |
| New Jersey Educational Facilities Authority - Seton Hall University (AG) | 3.25% |  | 7/1/2049 | AA | 480000 | 370757 |
| New Jersey Educational Facilities Authority - Stevens Institute of Technology International Inc | 3.00% |  | 7/1/2050 | BBB+ | 1170000 | 816167 |
| New Jersey Educational Facilities Authority - Stevens Institute of Technology International Inc | 4.00% |  | 7/1/2050 | BBB+ | 200000 | 169898 |
| New Jersey Educational Facilities Authority - Stevens Institute of Technology International Inc | 5.00% |  | 7/1/2030 | BBB+ | 530000 | 547502 |
| New Jersey Educational Facilities Authority - Stevens Institute of Technology International Inc | 5.00% |  | 7/1/2047 | BBB+ | 1750000 | 1750085 |
| New Jersey Educational Facilities Authority - Stockton University - Stockton University | 5.00% |  | 7/1/2041 | A3 | 800000 | 794745 |
| New Jersey Educational Facilities Authority - Trustees of Princeton University | 5.25% |  | 3/1/2054 | AAA | 4885000 | 5111357 |
| New Jersey Educational Facilities Authority - Trustees of Princeton University/The | 5.00% |  | 3/1/2038 | AAA | 355000 | 388025 |
| New Jersey Educational Facilities Authority - Trustees of Princeton University/The | 5.00% | <sup>#(b)</sup> | 7/1/2064 | AAA | 1000000 | 1119603 |
| New Jersey Educational Facilities Authority - William Paterson University of New Jersey (AG) | 3.00% |  | 7/1/2039 | AA | 250000 | 205340 |

---

182 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW JERSEY TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |  |
| New Jersey Educational Facilities Authority - William Paterson University of New Jersey (AG) | 3.00% |  | 7/1/2040 | AA | $250000 | $201235 |
| New Jersey Higher Education Student Assistance Authority AMT | 2.50% |  | 12/1/2040 | AA | 420000 | 385423 |
| New Jersey Higher Education Student Assistance Authority AMT | 3.25% |  | 12/1/2039 | Aa1 | 185000 | 174386 |
| New Jersey Institute of Technology (BAM) | 5.00% |  | 7/1/2037 | AA | 500000 | 554656 |
| New Jersey Institute of Technology (BAM) | 5.25% |  | 7/1/2055 | AA | 500000 | 519712 |
| *Total* |  |  |  |  |  | 24493932 |
| **Financial Services 0.13%** |  |  |  |  |  |  |
| New Jersey Higher Education Student Assistance Authority AMT | 5.00% |  | 12/1/2028 | Aaa | 200000 | 207073 |
| **General Obligation 7.57%** |  |  |  |  |  |  |
| City of Atlantic City NJ GO (BAM), (ST AID WITHHLDG) | 5.00% |  | 3/1/2042 | AA | 750000 | 755687 |
| City of Newark Mass Transit Access Tax Revenue NJ (AG) | 5.375% |  | 11/15/2052 | AA | 1670000 | 1769506 |
| Commonwealth of Puerto Rico GO | Zero Coupon |  | 7/1/2033 | NR | 52676 | 36481 |
| Commonwealth of Puerto Rico GO | Zero Coupon | <sup>#(b)</sup> | 11/1/2043 | NR | 168588 | 103892 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2033 | NR | 40933 | 39967 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2035 | NR | 36793 | 35459 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2037 | NR | 31578 | 30117 |
| Commonwealth of Puerto Rico GO | 5.625% |  | 7/1/2027 | NR | 45175 | 46500 |
| Commonwealth of Puerto Rico GO | 5.625% |  | 7/1/2029 | NR | 44442 | 46898 |
| Commonwealth of Puerto Rico GO | 5.75% |  | 7/1/2031 | NR | 43166 | 46588 |
| County of Hudson NJ GO | 2.00% |  | 11/15/2035 | AA | 1000000 | 777913 |
| County of Ocean NJ GO | 4.00% |  | 11/1/2044 | Aaa | 1000000 | 941508 |
| New Jersey Economic Development Authority - New Jersey Transit Corp | 5.25% |  | 11/1/2047 | A2 | 860000 | 880708 |
| New Jersey Health Care Facilities Financing Authority | 5.00% |  | 10/1/2037 | A2 | 1000000 | 1019320 |
| New Jersey Infrastructure Bank | 5.00% |  | 9/1/2052 | AAA | 500000 | 515274 |
| New Jersey Transportation Trust Fund Authority | 4.25% |  | 6/15/2044 | A2 | 500000 | 467194 |
| Plainfield Board of Education NJ GO (AG) | 4.00% |  | 10/15/2043 | AA | 480000 | 446921 |
| Rutherford Board of Education NJ GO | 2.50% |  | 12/15/2034 | AA- | 1000000 | 855340 |
| State of New Jersey GO | 2.50% |  | 6/1/2038 | A1 | 1375000 | 1082590 |

---

*See Notes to Schedule of Investments.* 183

**Schedule of Investments (unaudited)(continued)**

NEW JERSEY TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  | | |
| State of New Jersey GO | 5.00% | 6/1/2040 | A1 | $750000 | $781196 |
| Union County Improvement Authority | 4.125% | 4/15/2054 | Aaa | 250000 | 222573 |
| Union County Utilities Authority - Covanta Union LLC NJ GTD AMT | 4.75% | 12/1/2031 | AA+ | 945000 | 945021 |
| *Total* |  |  |  |  | 11846653 |
| **Health Care 11.27%** |  |  |  |  |  |
| New Jersey Economic Development Authority - Bancroft Neurohealth Obligated Group | 5.00% | 6/1/2036 | NR | 220000 | 220131 |
| New Jersey Health Care Facilities Financing Authority - AtlantiCare Health System Obligated Group | 2.375% | 7/1/2046 | AA- | 695000 | 422835 |
| New Jersey Health Care Facilities Financing Authority - Inspira Health Obligated Group | 4.125% | 7/1/2054 | A2 | 1665000 | 1429757 |
| New Jersey Health Care Facilities Financing Authority - Inspira Health Obligated Group | 5.00% | 7/1/2035 | A2 | 485000 | 495327 |
| New Jersey Health Care Facilities Financing Authority - Inspira Health Obligated Group | 5.00% | 7/1/2042 | A2 | 1215000 | 1216768 |
| New Jersey Health Care Facilities Financing Authority - Inspira Health Obligated Group | 5.25% | 7/1/2054 | A2 | 1720000 | 1766016 |
| New Jersey Health Care Facilities Financing Authority - RWJ Barnabas Health Obligated Group | 3.00% | 7/1/2051 | AA- | 1225000 | 876593 |
| New Jersey Health Care Facilities Financing Authority - RWJ Barnabas Health Obligated Group | 4.00% | 7/1/2051 | AA- | 1500000 | 1309082 |
| New Jersey Health Care Facilities Financing Authority - RWJ Barnabas Health Obligated Group | 5.00% | 7/1/2043 | AA- | 1925000 | 1913385 |
| New Jersey Health Care Facilities Financing Authority - RWJ Barnabas Health Obligated Group | 5.25% | 7/1/2054 | AA- | 1500000 | 1545639 |
| New Jersey Health Care Facilities Financing Authority - St Joseph's Healthcare System Obligated Group | 4.00% | 7/1/2048 | BBB- | 1325000 | 1094322 |
| New Jersey Health Care Facilities Financing Authority - St Joseph's Healthcare System Obligated Group | 5.00% | 7/1/2027 | BBB- | 100000 | 101165 |

---

184 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW JERSEY TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  | | |
| New Jersey Health Care Facilities Financing Authority - St Joseph's Healthcare System Obligated Group | 5.00% | 7/1/2035 | BBB- | $1000000 | $1003544 |
| New Jersey Health Care Facilities Financing Authority - St Joseph's Healthcare System Obligated Group | 5.00% | 7/1/2041 | BBB- | 2635000 | 2606380 |
| New Jersey Health Care Facilities Financing Authority - University Hospital (AG) | 5.00% | 7/1/2046 | AA | 1275000 | 1258308 |
| New Jersey Health Care Facilities Financing Authority - Valley Health System Obligated Group | 5.00% | 7/1/2030 | A | 355000 | 381704 |
| *Total* |  |  |  |  | 17640956 |
| **Housing 0.47%** |  |  |  |  |  |
| New Jersey Economic Development Authority - Provident Group-Rowan Properties LLC | 5.00% | 1/1/2048 | B1 | 250000 | 225933 |
| New Jersey Housing & Mortgage Finance Agency (HUD) | 3.15% | 5/1/2053 | AA- | 100000 | 70114 |
| Passaic County Improvement Authority NJ | 4.00% | 11/1/2051 | Aa1 | 475000 | 431250 |
| *Total* |  |  |  |  | 727297 |
| **Lease Obligations 7.70%** |  |  |  |  |  |
| Gloucester County Improvement Authority - Rowan University NJ (AG) | 5.00% | 11/1/2029 | AA | 335000 | 343838 |
| Gloucester County Improvement Authority - Rowan University NJ (AG) | 5.00% | 11/1/2030 | AA | 365000 | 374388 |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC AMT | 5.375% | 1/1/2043 | A- | 1710000 | 1710502 |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC AMT | 5.625% | 1/1/2052 | A- | 210000 | 210100 |
| New Jersey Economic Development Authority - State Capitol Joint Management Commission | 5.00% | 6/15/2035 | A2 | 1100000 | 1134147 |
| New Jersey Economic Development Authority - State of New Jersey | 5.00% | 6/15/2042 | A2 | 900000 | 900157 |
| New Jersey Economic Development Authority - State of New Jersey Department of the Treasury | 5.00% | 6/15/2047 | A2 | 540000 | 535129 |
| New Jersey Economic Development Authority - State of New Jersey Department of the Treasury | 5.00% | 6/15/2048 | A2 | 500000 | 494258 |

---

*See Notes to Schedule of Investments.* 185

**Schedule of Investments (unaudited)(continued)**

NEW JERSEY TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Lease Obligations (continued)** |  |  |  | | |
| New Jersey Economic Development Authority - State of New Jersey Motor Vehicle Surcharge Revenue | 4.00% | 7/1/2034 | Baa2 | $500000 | $489416 |
| New Jersey Health Care Facilities Financing Authority | 5.00% | 10/1/2038 | A2 | 520000 | 528234 |
| New Jersey Transportation Trust Fund Authority | Zero Coupon | 12/15/2031 | A2 | 1980000 | 1584249 |
| New Jersey Transportation Trust Fund Authority | Zero Coupon | 12/15/2038 | A2 | 1120000 | 619180 |
| New Jersey Transportation Trust Fund Authority | 4.00% | 12/15/2039 | A2 | 660000 | 623721 |
| New Jersey Transportation Trust Fund Authority | 4.25% | 12/15/2038 | A2 | 470000 | 460861 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2030 | A+ | 580000 | 589199 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2031 | A+ | 455000 | 461872 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.00% | 9/1/2036 | A2 | 545000 | 551232 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.50% | 9/1/2033 | A2 | 435000 | 444637 |
| *Total* |  |  |  |  | 12055120 |
| **Other Revenue 1.25%** |  |  |  |  |  |
| Casino Reinvestment Development Authority, Inc. GA (AG) | 4.00% | 11/1/2044 | AA | 1250000 | 1103199 |
| Casino Reinvestment Development Authority, Inc. GA (AG) | 5.00% | 11/1/2041 | AA | 285000 | 297067 |
| Casino Reinvestment Development Authority, Inc. GA (AG) | 5.00% | 11/1/2044 | AA | 200000 | 205241 |
| New Jersey Economic Development Authority - Bancroft Neurohealth Obligated Group | 5.00% | 6/1/2041 | NR | 365000 | 349178 |
| *Total* |  |  |  |  | 1954685 |
| **Special Tax 0.44%** |  |  |  |  |  |
| New Jersey Economic Development Authority - NJ Metromall Urban Renewal Inc | 6.50% | 4/1/2028 | Baa2 | 378384 | 391528 |
| New Jersey Infrastructure Bank | 2.00% | 9/1/2046 | AAA | 520000 | 303238 |
| *Total* |  |  |  |  | 694766 |

---

186 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW JERSEY TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tax Revenue 4.52%** |  |  |  |  | | |
| Casino Reinvestment Development Authority, Inc. NJ (AG) | 5.00% |  | 11/1/2035 | AA | $325000 | $359010 |
| Garden State Preservation Trust NJ (AG) | 5.75% |  | 11/1/2028 | AA | 990000 | 1040753 |
| New Jersey Infrastructure Bank | 5.00% |  | 9/1/2049 | AAA | 800000 | 834981 |
| New Jersey Transportation Trust Fund Authority | 3.00% |  | 6/15/2050 | A2 | 550000 | 386836 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon |  | 7/1/2029 | NR | 18000 | 15379 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon |  | 7/1/2031 | NR | 235000 | 183674 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon |  | 7/1/2033 | NR | 699000 | 498026 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon |  | 7/1/2051 | NR | 2675000 | 625440 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% |  | 7/1/2040 | NR | 596000 | 559844 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% |  | 7/1/2040 | NR | 527000 | 495030 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.536% |  | 7/1/2053 | NR | 18000 | 15660 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.55% |  | 7/1/2040 | NR | 19000 | 18231 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.55% |  | 7/1/2040 | NR | 380000 | 364622 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.75% |  | 7/1/2053 | NR | 1429000 | 1315727 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.784% |  | 7/1/2058 | NR | 149000 | 135994 |
| Territory of Guam | 4.00% |  | 1/1/2042 | Baa3 | 250000 | 221577 |
| *Total* |  |  |  |  |  | 7070784 |
| **Taxable Revenue - Water & Sewer 0.68%** |  |  |  |  |  |  |
| Jersey City Municipal Utilities Authority Sewer Fund NJ (AG), (MUN GOVT GTD) | 5.25% |  | 10/15/2054 | AA | 500000 | 518976 |
| New Jersey Economic Development Authority - New Jersey-American Water Co Inc AMT | 3.75% | <sup>#(b)</sup> | 11/1/2034 | A+ | 550000 | 550030 |
| *Total* |  |  |  |  |  | 1069006 |

---

*See Notes to Schedule of Investments.* 187

**Schedule of Investments (unaudited)(continued)**

NEW JERSEY TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tobacco 2.76%** |  |  |  | | |
| Tobacco Settlement Financing Corp. NJ | 5.00% | 6/1/2046 | BBB+ | $1000000 | $994823 |
| Tobacco Settlement Financing Corp. NJ | 5.00% | 6/1/2046 | BB+ | 2395000 | 2310580 |
| Tobacco Settlement Financing Corp. NJ | 5.25% | 6/1/2046 | BBB+ | 1000000 | 1006932 |
| *Total* |  |  |  |  | 4312335 |
| **Transportation 40.00%** |  |  |  |  |  |
| Delaware River & Bay Authority | 4.00% | 1/1/2044 | A+ | 515000 | 468550 |
| Delaware River & Bay Authority | 5.00% | 1/1/2049 | A+ | 1250000 | 1286385 |
| Delaware River Joint Toll Bridge Commission PA | 3.00% | 7/1/2049 | A+ | 1025000 | 713810 |
| New Jersey Economic Development Authority - DRP Urban Renewal 4 LLC AMT<sup>†</sup> | 6.375% | 1/1/2035 | NR | 500000 | 509751 |
| New Jersey Economic Development Authority - New Jersey Transit Corp | 4.00% | 11/1/2044 | A2 | 275000 | 241835 |
| New Jersey Economic Development Authority - NYNJ Link Borrower LLC (AG) AMT | 5.125% | 1/1/2039 | AA | 925000 | 926672 |
| New Jersey Economic Development Authority - Port Newark Container Terminal LLC AMT | 5.00% | 10/1/2047 | Baa2 | 1440000 | 1386842 |
| New Jersey Transportation Trust Fund Authority | 4.00% | 6/15/2050 | A2 | 1080000 | 941078 |
| New Jersey Transportation Trust Fund Authority | 5.00% | 6/15/2028 | A+ | 1070000 | 1088870 |
| New Jersey Transportation Trust Fund Authority | 5.25% | 6/15/2050 | A2 | 3185000 | 3279430 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 3.00% | 6/15/2050 | A2 | 750000 | 527503 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 4.00% | 6/15/2042 | A2 | 435000 | 399137 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 4.125% | 6/15/2050 | A2 | 1100000 | 978185 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.00% | 6/15/2037 | A2 | 1000000 | 1077412 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.00% | 6/15/2042 | A2 | 1500000 | 1546567 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.25% | 6/15/2041 | A2 | 200000 | 212397 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.25% | 6/15/2046 | A- | 385000 | 396944 |

---

188 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW JERSEY TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  | | |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.25% | 6/15/2050 | A2 | $3005000 | $3090944 |
| New Jersey Transportation Trust Fund Authority - State of New Jersey | 5.25% | 6/15/2055 | A2 | 3905000 | 3995425 |
| New Jersey Turnpike Authority | 4.00% | 1/1/2043 | AA- | 610000 | 560820 |
| New Jersey Turnpike Authority | 4.00% | 1/1/2048 | AA- | 1000000 | 891404 |
| New Jersey Turnpike Authority | 5.00% | 1/1/2035 | AA- | 660000 | 745196 |
| New Jersey Turnpike Authority | 5.00% | 1/1/2036 | AA- | 1050000 | 1177562 |
| New Jersey Turnpike Authority | 5.00% | 1/1/2042 | AA- | 270000 | 282068 |
| New Jersey Turnpike Authority | 5.00% | 1/1/2043 | AA- | 1355000 | 1415848 |
| New Jersey Turnpike Authority | 5.00% | 1/1/2044 | AA- | 835000 | 868663 |
| New Jersey Turnpike Authority | 5.00% | 1/1/2045 | AA- | 750000 | 778697 |
| New Jersey Turnpike Authority | 5.00% | 1/1/2046 | AA- | 1250000 | 1283795 |
| New Jersey Turnpike Authority | 5.00% | 1/1/2048 | AA- | 1010000 | 1017427 |
| New Jersey Turnpike Authority | 5.25% | 1/1/2050 | AA- | 750000 | 783914 |
| New Jersey Turnpike Authority | 5.25% | 1/1/2052 | AA- | 1250000 | 1291765 |
| New Jersey Turnpike Authority | 5.25% | 1/1/2054 | AA- | 2800000 | 2899419 |
| New Jersey Turnpike Authority | 5.25% | 1/1/2055 | AA- | 500000 | 520116 |
| New Jersey Turnpike Authority (AG) | 5.25% | 1/1/2028 | AA | 810000 | 861298 |
| Port Authority of New York & New Jersey | 4.00% | 9/1/2043 | AA- | 870000 | 795635 |
| Port Authority of New York & New Jersey | 5.00% | 12/1/2035 | AA- | 500000 | 558727 |
| Port Authority of New York & New Jersey | 5.00% | 1/15/2038 | AA- | 500000 | 553356 |
| Port Authority of New York & New Jersey | 5.00% | 7/15/2045 | AA- | 500000 | 519580 |
| Port Authority of New York & New Jersey | 5.00% | 7/15/2053 | AA- | 360000 | 366281 |
| Port Authority of New York & New Jersey | 5.00% | 7/15/2053 | AA- | 500000 | 508720 |
| Port Authority of New York & New Jersey | 5.00% | 9/1/2054 | AA- | 3375000 | 3452226 |
| Port Authority of New York & New Jersey | 5.25% | 8/1/2052 | AA- | 1330000 | 1370789 |
| Port Authority of New York & New Jersey AMT | 5.00% | 9/1/2032 | AA- | 555000 | 601306 |
| Port Authority of New York & New Jersey AMT | 5.00% | 9/15/2032 | AA- | 900000 | 927942 |
| Port Authority of New York & New Jersey AMT | 5.00% | 9/15/2033 | AA- | 1325000 | 1361857 |
| Port Authority of New York & New Jersey AMT | 5.00% | 9/1/2034 | AA- | 500000 | 541797 |
| Port Authority of New York & New Jersey AMT | 5.00% | 9/15/2034 | AA- | 290000 | 297070 |
| Port Authority of New York & New Jersey AMT | 5.00% | 10/15/2034 | AA- | 500000 | 501027 |
| Port Authority of New York & New Jersey AMT | 5.00% | 7/15/2036 | AA- | 545000 | 575066 |

---

*See Notes to Schedule of Investments.* 189

**Schedule of Investments (unaudited)(continued)**

NEW JERSEY TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity <br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  | | |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 9/1/2036 | AA- | $750000 | $771994 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 9/1/2036 | AA- | 660000 | 699785 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 8/1/2037 | AA- | 825000 | 856049 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 11/15/2041 | AA- | 600000 | 604700 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 12/1/2044 | AA- | 500000 | 504471 |
| South Jersey Port Corp. - South Jersey Port Corp AMT | 5.00% |  | 1/1/2035 | A3 | 860000 | 873513 |
| South Jersey Port Corp. - South Jersey Port Corp NJ AMT | 5.00% |  | 1/1/2036 | A3 | 820000 | 831001 |
| South Jersey Port Corp. NJ AMT | 5.00% |  | 1/1/2048 | A3 | 1885000 | 1860570 |
| South Jersey Transportation Authority (BAM) | 5.00% |  | 11/1/2039 | AA | 100000 | 104964 |
| South Jersey Transportation Authority (BAM) | 5.25% |  | 11/1/2052 | AA | 415000 | 429444 |
| South Jersey Transportation Authority NJ | 4.625% |  | 11/1/2047 | BBB+ | 450000 | 430652 |
| South Jersey Transportation Authority NJ | 5.25% |  | 11/1/2052 | BBB+ | 1765000 | 1805532 |
| South Jersey Transportation Authority NJ (BAM) | 4.00% |  | 11/1/2050 | AA | 1080000 | 943452 |
| South Jersey Transportation Authority NJ (BAM) | 5.00% |  | 11/1/2045 | AA | 500000 | 506400 |
| *Total* |  |  |  |  |  | 62599635 |
| **Utilities 4.59%** |  |  |  |  |  |  |
| Jersey City Municipal Utilities Authority Sewer Fund NJ (BAM) | 5.75% |  | 10/15/2055 | AA | 1600000 | 1752079 |
| New Jersey Economic Development Authority - Middlesex Water Co AMT | 4.00% |  | 8/1/2059 | A+ | 500000 | 407014 |
| New Jersey Economic Development Authority - New Jersey Natural Gas Co | 3.50% |  | 4/1/2042 | A1 | 1680000 | 1346493 |
| New Jersey Economic Development Authority - New Jersey Natural Gas Co AMT | 3.00% |  | 8/1/2041 | A1 | 1040000 | 796842 |
| New Jersey Economic Development Authority - New Jersey-American Water Co Inc AMT | 2.20% | <sup>#(b)</sup> | 10/1/2039 | A+ | 500000 | 453181 |
| New Jersey Economic Development Authority - UMM Energy Partners LLC AMT | 4.75% |  | 6/15/2032 | Baa2 | 1000000 | 1000140 |
| Passaic Valley Sewerage Commission NJ (AG) | 3.00% |  | 12/1/2038 | AA | 1000000 | 843024 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 4.00% |  | 7/1/2042 | NR | 380000 | 330790 |

---

190 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(concluded)**

NEW JERSEY TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 5.00% | 7/1/2030 | NR | $250000 | $259956 |
| *Total* |  |  |  |  | 7189519 |
| *Total Municipal Bonds* (cost $163,490,530) |  |  |  |  | 155060755 |
| *Total Investments in Securities 99.08%* (cost $163,490,530) |  |  |  |  | 155060755 |
| *Other Assets and Liabilities – Net*<sup>(c)</sup> *0.92%* |  |  |  |  | 1443492 |
| *Net Assets 100.00%* |  |  |  |  | $156504247 |

---

---

| | |
|:---|:---|
| AG | Insured by - Assured Guaranty, inc. |
| AMT | Income from the security may be subject to Alternative Minimum Tax. |
| BAM | Insured by - Build America Mutual. |
| GTD | Guaranteed. |
| HUD | Insured by - Department of Housing and Urban Development. |
| NR | Not Rated. |

---

---

| | |
|:---|:---|
| <sup>#</sup> | Variable rate security. The interest rate represents the rate in effect at June 30, 2025. |
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At June 30, 2025, the total value of Rule 144A securities was $1,100,497, which represents 0.70% of net assets. |
| <sup>(a)</sup> | Securities purchased on a when-issued basis. |
| <sup>(b)</sup> | Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date. |
| <sup>(c)</sup> | Other Assets and Liabilities – Net include net unrealized appreciation/(depreciation) on futures contracts as follows: |

---

**Futures Contracts at June 30, 2025:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Expiration** | **Contracts** | **Position** | **Notional<br> Amount** | **Notional<br> Value** | **Unrealized<br> Depreciation** |
| U.S. Long Bond | September 2025 | 9 | Short | $(1003539) | $(1039218) | $(35679) |

---

The following is a summary of the inputs used as of June 30, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| Municipal Bonds | $– | $155060755 | $– | $155060755 |
| Total | $– | $155060755 | $– | $155060755 |
| **Other Financial Instruments** |  |  |  |  |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Assets | $– | $– | $– | $– |
| &nbsp;&nbsp;&nbsp;Liabilities | (35679) | – | – | (35679) |
| Total | $(35679) | $– | $– | $(35679) |

---

<sup>(1)</sup> Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs.

<sup>(2)</sup> See Schedule of Investments for fair values in each industry. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized.

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets.

*See Notes to Schedule of Investments.* 191

**Schedule of Investments (unaudited)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **LONG-TERM INVESTMENTS 100.86%** |  |  |  |  |  |  |
| **MUNICIPAL BONDS 100.86%** |  |  |  |  |  |  |
| **Corporate-Backed 9.87%** |  |  |  |  |  |  |
| Brooklyn Arena Local Development Corp. - Brooklyn Events Center LLC NY | Zero Coupon |  | 7/15/2047 | Ba1 | $250000 | $76952 |
| Build NYC Resource Corp. - Pratt Paper Inc NY AMT<sup>†</sup> | 5.00% |  | 1/1/2035 | NR | 240000 | 240120 |
| New York City Industrial Development Agency - Queens Ballpark Co LLC NY (AG) | 3.00% |  | 1/1/2046 | AA | 3170000 | 2286595 |
| New York City Transitional Finance Authority - New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.00% |  | 5/1/2050 | AAA | 1535000 | 1564936 |
| New York Liberty Development Corp. | 2.10% |  | 11/15/2032 | A+ | 2790000 | 2407484 |
| New York Liberty Development Corp. | 2.875% |  | 11/15/2046 | A+ | 7355000 | 5024579 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 5.00% |  | 11/15/2044 | NR | 8655000 | 8473689 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 5.15% |  | 11/15/2034 | NR | 750000 | 750053 |
| New York Liberty Development Corp. - 3 World Trade Center LLC<sup>†</sup> | 7.25% |  | 11/15/2044 | NR | 1200000 | 1200776 |
| New York Liberty Development Corp. - Goldman Sachs Headquarters LLC | 5.25% |  | 10/1/2035 | A2 | 7215000 | 8099283 |
| New York Liberty Development Corp. - Goldman Sachs Headquarters LLC | 5.50% |  | 10/1/2037 | A2 | 3650000 | 4152860 |
| New York Liberty Development Corp. - One Bryant Park LLC | 2.80% |  | 9/15/2069 | Baa1 | 4630000 | 4223020 |
| New York State Energy Research & Development Authority - New York State Electric & Gas Corp | 4.00% |  | 4/1/2034 | A- | 2030000 | 2033625 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT | 2.75% | <sup>#(a)</sup> | 9/1/2050 | B+ | 500000 | 498001 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT<sup>†</sup> | 2.875% | <sup>#(a)</sup> | 12/1/2044 | B+ | 1500000 | 1407542 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT<sup>†</sup> | 3.125% | <sup>#(a)</sup> | 12/1/2044 | B+ | 2000000 | 1976856 |
| New York State Environmental Facilities Corp. - Casella Waste Systems Inc AMT<sup>†</sup> | 5.125% | <sup>#(a)</sup> | 9/1/2050 | B+ | 1000000 | 1029345 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 2.25% |  | 8/1/2026 | BB <sup>(b)</sup> | 105000 | 103368 |

---

192 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Corporate-Backed (continued)** |  |  |  |  |  |
| New York Transportation Development Corp. - American Airlines Inc AMT | 3.00% | 8/1/2031 | BB <sup>(b)</sup> | $3500000 | $3218964 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.25% | 8/1/2031 | B+ | 1165000 | 1191454 |
| New York Transportation Development Corp. - American Airlines Inc AMT | 5.375% | 8/1/2036 | B+ | 1025000 | 1045705 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% | 10/1/2035 | Baa2 | 1000000 | 1016990 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 4.00% | 12/1/2038 | Baa1 | 3600000 | 3280982 |
| Niagara Area Development Corp. - Reworld Holding Corp NY AMT<sup>†</sup> | 4.75% | 11/1/2042 | B | 1750000 | 1587623 |
| Westchester County Local Development Corp. - Miriam Osborn Memorial Home Association Obligated Group NY | 5.00% | 7/1/2034 | A <sup>(b)</sup> | 200000 | 205294 |
| *Total* |  |  |  |  | 57096096 |
| **Education 12.74%** |  |  |  |  |  |
| Build NYC Resource Corp. - East Harlem Scholars Academy Charter School Obligated Group NY<sup>†</sup> | 5.75% | 6/1/2042 | BB | 1000000 | 1004927 |
| Build NYC Resource Corp. - Kipp NYC Public Charter Schools NY | 5.25% | 7/1/2052 | BBB- | 1250000 | 1231634 |
| Build NYC Resource Corp. - Manhattan College NY | 5.00% | 8/1/2033 | BBB | 1125000 | 1136650 |
| Build NYC Resource Corp. - New York Law School | 5.00% | 7/1/2041 | BBB- | 1175000 | 1098761 |
| Build NYC Resource Corp. - Nightingale-Bamford School NY | 5.00% | 7/1/2040 | A3 | 4500000 | 4692469 |
| Build NYC Resource Corp. - Packer Collegiate Institute NY | 5.00% | 6/1/2040 | A2 | 1690000 | 1691236 |
| Clinton County Capital Resource Corp. - Clinton-Essex-Warren-Washington Board of Cooperative Educational Services NY<sup>†</sup> | 5.00% | 7/1/2046 | A3 | 1000000 | 962060 |
| Dutchess County Local Development Corp. - Bard College NY | 5.00% | 7/1/2045 | BBB- | 1000000 | 995198 |
| Dutchess County Local Development Corp. - Bard College NY | 5.00% | 7/1/2051 | BBB- | 1000000 | 969140 |
| Dutchess County Local Development Corp. - Culinary Institute of America NY | 4.00% | 7/1/2040 | Baa1 | 425000 | 392171 |
| Dutchess County Local Development Corp. - Culinary Institute of America NY | 5.00% | 7/1/2033 | Baa1 | 390000 | 394081 |

---

*See Notes to Schedule of Investments.* 193

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| Dutchess County Local Development Corp. - Culinary Institute of America NY | 5.00% | 7/1/2041 | Baa1 | $200000 | $200096 |
| Dutchess County Local Development Corp. - Culinary Institute of America NY | 5.00% | 7/1/2046 | Baa1 | 275000 | 268999 |
| Dutchess County Local Development Corp. - Marist College NY | 5.00% | 7/1/2043 | A2 | 2120000 | 2131045 |
| Dutchess County Local Development Corp. - Millbrook School NY | 4.00% | 9/1/2051 | A | 1530000 | 1265524 |
| Hempstead Town Local Development Corp. - Molloy College NY | 5.00% | 7/1/2034 | BBB | 825000 | 835890 |
| Hempstead Town Local Development Corp. - Molloy College NY | 5.00% | 7/1/2037 | BBB | 630000 | 634365 |
| Hempstead Town Local Development Corp. - Molloy College NY | 5.00% | 7/1/2039 | BBB | 555000 | 556003 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY (AG) | 3.00% | 3/1/2049 | AA | 2050000 | 1459725 |
| New York State Dormitory Authority - Cornell University | 5.50% | 7/1/2054 | Aa1 | 5625000 | 5931411 |
| New York State Dormitory Authority - Icahn School of Medicine Mount Sinai | 5.00% | 7/1/2040 | BBB+ | 2220000 | 2218858 |
| New York State Dormitory Authority - Iona College | 5.00% | 7/1/2046 | BBB | 375000 | 369650 |
| New York State Dormitory Authority - Iona University (AG) | 5.50% | 7/1/2044 | AA | 785000 | 829523 |
| New York State Dormitory Authority - Iona University (AG) | 5.50% | 7/1/2045 | AA | 870000 | 915211 |
| New York State Dormitory Authority - New School | 4.00% | 7/1/2047 | A3 | 1000000 | 847429 |
| New York State Dormitory Authority - New School | 4.00% | 7/1/2052 | A3 | 2500000 | 2048213 |
| New York State Dormitory Authority - New School/The | 5.00% | 7/1/2045 | A3 | 2000000 | 2020623 |
| New York State Dormitory Authority - New York Institute of Technology NY | 5.25% | 7/1/2049 | BBB | 2410000 | 2466569 |
| New York State Dormitory Authority - New York Institute of Technology NY | 5.25% | 7/1/2054 | BBB | 1485000 | 1512812 |
| New York State Dormitory Authority - New York University | 5.25% | 7/1/2051 | Aa2 | 5000000 | 5185810 |
| New York State Dormitory Authority - New York University NY | 5.00% | 7/1/2045 | Aa2 | 1000000 | 1000308 |

---

194 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |
| New York State Dormitory Authority - Pace University | 5.00% | 5/1/2035 | BBB- | $2000000 | $2107635 |
| New York State Dormitory Authority - Pace University | 5.50% | 5/1/2049 | BBB- | 3250000 | 3273692 |
| New York State Dormitory Authority - Pratt Institute | 5.00% | 7/1/2039 | A2 | 1045000 | 1048088 |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue | 5.00% | 2/15/2041 | NR | 5000 | 5247 |
| New York State Dormitory Authority - State University of New York Dormitory Facilities Revenue | 5.25% | 7/1/2055 | Aa3 | 2710000 | 2803746 |
| New York State Dormitory Authority - Yeshiva University | 5.00% | 7/15/2037 | BBB- | 1000000 | 1031121 |
| New York State Dormitory Authority - Yeshiva University | 5.00% | 7/15/2042 | BBB- | 1030000 | 1025021 |
| New York State Dormitory Authority (AG), (ST AID WITHHLDG) | 5.00% | 10/1/2040 | AA | 1500000 | 1597656 |
| Onondaga Civic Development Corp.<sup>(c)</sup> | 5.50% | 12/1/2056 | AA- | 3500000 | 3716438 |
| Onondaga Civic Development Corp. - Le Moyne College NY | 4.00% | 7/1/2038 | Baa2 | 150000 | 137773 |
| Onondaga Civic Development Corp. - Le Moyne College NY | 4.00% | 7/1/2040 | Baa2 | 300000 | 266719 |
| Onondaga Civic Development Corp. - Le Moyne College NY | 4.00% | 7/1/2041 | Baa2 | 415000 | 361758 |
| Onondaga Civic Development Corp. - Le Moyne College NY | 5.00% | 7/1/2035 | Baa2 | 365000 | 376377 |
| Onondaga Civic Development Corp. - Le Moyne College NY | 5.00% | 7/1/2036 | Baa2 | 465000 | 476873 |
| Onondaga Civic Development Corp. - Le Moyne College NY | 5.00% | 7/1/2046 | Baa2 | 600000 | 570681 |
| Schenectady County Capital Resource Corp. - Trustees of Union College NY | 5.25% | 7/1/2052 | A1 | 740000 | 759888 |
| St. Lawrence County Industrial Development Agency - Clarkson University NY | 5.00% | 9/1/2037 | Baa2 | 455000 | 461034 |
| St. Lawrence County Industrial Development Agency - Clarkson University NY | 5.00% | 9/1/2038 | Baa2 | 475000 | 477436 |
| St. Lawrence County Industrial Development Agency - Clarkson University NY | 5.00% | 9/1/2041 | Baa2 | 160000 | 153809 |

---

*See Notes to Schedule of Investments.* 195

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Education (continued)** |  |  |  |  |  |  |
| Troy Capital Resource Corp. - Rensselaer Polytechnic Institute NY | 5.00% |  | 8/1/2032 | A3 | $1495000 | $1506322 |
| Westchester County Local Development Corp. - Miriam Osborn Memorial Home Association Obligated Group NY | 5.00% |  | 7/1/2042 | A <sup>(b)</sup> | 450000 | 450218 |
| Westchester County Local Development Corp. - Sarah Lawrence College | 4.00% |  | 6/1/2030 | BBB- | 2165000 | 2152057 |
| Westchester County Local Development Corp. - Sarah Lawrence College NY | 4.00% |  | 6/1/2033 | BBB- | 1710000 | 1667557 |
| *Total* |  |  |  |  |  | 73693537 |
| **General Obligation 8.24%** |  |  |  |  |  |  |
| City of Long Beach NY GO (BAM) | 5.25% |  | 7/15/2034 | AA | 510000 | 554328 |
| City of Long Beach NY GO (BAM) | 5.25% |  | 7/15/2035 | AA | 400000 | 431699 |
| City of Long Beach NY GO (BAM) | 5.25% |  | 7/15/2036 | AA | 300000 | 321544 |
| City of Long Beach NY GO (BAM) | 5.25% |  | 7/15/2037 | AA | 810000 | 862601 |
| City of Long Beach NY GO (BAM) | 5.25% |  | 7/15/2042 | AA | 500000 | 515451 |
| City of New York NY GO | 4.125% |  | 8/1/2053 | AA | 2230000 | 1947829 |
| City of New York NY GO | 5.00% |  | 10/1/2037 | AA | 2500000 | 2565561 |
| City of New York NY GO | 5.25% |  | 3/1/2049 | AA | 2500000 | 2594268 |
| City of New York NY GO | 5.25% |  | 8/1/2050 | AA | 2000000 | 2079524 |
| City of New York NY GO | 5.25% |  | 9/1/2050 | AA | 2500000 | 2595878 |
| City of New York NY GO | 5.25% |  | 2/1/2053 | AA | 500000 | 519575 |
| City of New York NY GO | 5.25% |  | 3/1/2053 | AA | 2500000 | 2586683 |
| City of New York NY GO | 5.25% |  | 4/1/2054 | AA | 1500000 | 1550993 |
| City of New York NY GO | 5.50% |  | 5/1/2044 | AA | 2085000 | 2213916 |
| Commonwealth of Puerto Rico GO | Zero Coupon |  | 7/1/2033 | NR | 256309 | 177507 |
| Commonwealth of Puerto Rico GO | Zero Coupon | <sup>#(a)</sup> | 11/1/2043 | NR | 781880 | 481833 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2033 | NR | 189842 | 185359 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2035 | NR | 170642 | 164455 |
| Commonwealth of Puerto Rico GO | 4.00% |  | 7/1/2037 | NR | 146457 | 139681 |
| Commonwealth of Puerto Rico GO | 5.625% |  | 7/1/2027 | NR | 209517 | 215664 |
| Commonwealth of Puerto Rico GO | 5.625% |  | 7/1/2029 | NR | 206118 | 217508 |
| Commonwealth of Puerto Rico GO | 5.75% |  | 7/1/2031 | NR | 215202 | 232264 |
| County of Nassau NY GO | 4.00% |  | 4/1/2053 | AA | 2140000 | 1863970 |
| Hudson Yards Infrastructure Corp. NY | 5.00% |  | 2/15/2042 | AA | 3595000 | 3614676 |
| Jefferson County Civic Facility Development Corp. - Samaritan Medical Center Obligated NY | 5.00% |  | 11/1/2037 | BB | 3000000 | 2867974 |

---

196 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **General Obligation (continued)** |  |  |  |  |  |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 4.00% | 2/1/2051 | AAA | $3750000 | $3295470 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.25% | 11/1/2040 | AAA | 2000000 | 2149950 |
| New York State Dormitory Authority | 5.00% | 3/15/2053 | AA+ | 2500000 | 2523292 |
| New York State Urban Development Corp. | 5.00% | 3/15/2044 | Aa1 | 3000000 | 3105941 |
| New York State Urban Development Corp. | 5.00% | 3/15/2050 | Aa1 | 5000000 | 5079869 |
| *Total* |  |  |  |  | 47655263 |
| **Health Care 13.04%** |  |  |  |  |  |
| Brookhaven Local Development Corp. - Active Retirement Community Inc Obligated Group NY | 4.00% | 11/1/2045 | BBB <sup>(b)</sup> | 1170000 | 1016759 |
| Brookhaven Local Development Corp. - Active Retirement Community Inc Obligated Group NY | 4.00% | 11/1/2055 | BBB <sup>(b)</sup> | 1000000 | 799721 |
| Brookhaven Local Development Corp. - Long Island Community Hospital At NYU Langone Health Obligated NY | 3.375% | 10/1/2040 | A | 535000 | 448457 |
| Broome County Local Development Corp. - United Health Services Hospitals Obligated Group NY (AG) | 3.00% | 4/1/2036 | AA | 1030000 | 923872 |
| Broome County Local Development Corp. - United Health Services Hospitals Obligated Group NY (AG) | 3.00% | 4/1/2037 | AA | 1500000 | 1310778 |
| Buffalo & Erie County Industrial Land Development Corp. - Catholic Health System Obligated Group NY | 5.00% | 7/1/2025 | B- | 300000 | 300000 |
| Buffalo & Erie County Industrial Land Development Corp. - Orchard Park CCRC Inc NY | 5.00% | 11/15/2037 | BBB <sup>(b)</sup> | 1000000 | 1000755 |
| Dutchess County Local Development Corp. - Nuvance Health Obligated Group NY | 4.00% | 7/1/2044 | BBB+ | 1250000 | 1107684 |
| Dutchess County Local Development Corp. - Nuvance Health Obligated Group NY | 4.00% | 7/1/2049 | BBB+ | 3620000 | 3075027 |
| Dutchess County Local Development Corp. - Nuvance Health Obligated Group NY | 5.00% | 7/1/2035 | BBB+ | 1765000 | 1782424 |
| Dutchess County Local Development Corp. - Nuvance Health Obligated Group NY | 5.00% | 7/1/2046 | BBB+ | 2000000 | 1921697 |

---

*See Notes to Schedule of Investments.* 197

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| Genesee County Funding Corp. - Rochester Regional Health Obligated NY | 5.25% | 12/1/2052 | BBB+ | $1000000 | $996563 |
| Monroe County Industrial Development Corp. - Rochester Regional Health Obligated Group NY | 4.00% | 12/1/2035 | BBB+ | 600000 | 587669 |
| Monroe County Industrial Development Corp. - Rochester Regional Health Obligated Group NY | 4.00% | 12/1/2036 | BBB+ | 450000 | 433926 |
| Monroe County Industrial Development Corp. - Rochester Regional Health Obligated Group NY | 5.00% | 12/1/2034 | BBB+ | 250000 | 253065 |
| Nassau County Local Economic Assistance Corp. - Catholic Health Services of Long Island Obligated Group NY | 5.00% | 7/1/2027 | A- | 625000 | 625618 |
| Nassau County Local Economic Assistance Corp. - Catholic Health Services of Long Island Obligated Group NY | 5.00% | 7/1/2028 | A- | 2045000 | 2046989 |
| Nassau County Local Economic Assistance Corp. - Catholic Health Services of Long Island Obligated Group NY | 5.00% | 7/1/2033 | A- | 905000 | 905219 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY | 3.00% | 3/1/2049 | Baa1 | 2160000 | 1489503 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 4.00% | 7/1/2045 | B- | 2895000 | 2356999 |
| New York State Dormitory Authority - Catholic Health System Obligated Group | 5.00% | 7/1/2032 | B- | 500000 | 495639 |
| New York State Dormitory Authority - Garnet Health Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2026 | BB- | 1000000 | 1000193 |
| New York State Dormitory Authority - Garnet Health Medical Center Obligated Group<sup>†</sup> | 5.00% | 12/1/2029 | BB- | 2900000 | 2915078 |
| New York State Dormitory Authority - Icahn School of Medicine Mount Sinai | 5.00% | 7/1/2033 | BBB+ | 4340000 | 4340644 |
| New York State Dormitory Authority - Icahn School of Medicine Mount Sinai | 5.00% | 7/1/2034 | BBB+ | 1750000 | 1750184 |
| New York State Dormitory Authority - Maimonides Medical Center (FHA) | 3.00% | 2/1/2050 | AA+ | 1000000 | 695304 |
| New York State Dormitory Authority - Memorial Sloan-Kettering Cancer Center | 5.25% | 7/1/2054 | AA- | 1000000 | 1039505 |
| New York State Dormitory Authority - Montefiore Obligated Group | 4.00% | 8/1/2036 | BBB- | 475000 | 454043 |

---

198 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |
| New York State Dormitory Authority - Montefiore Obligated Group | 4.00% | 8/1/2037 | BBB- | $1820000 | $1705788 |
| New York State Dormitory Authority - Montefiore Obligated Group | 4.00% | 8/1/2038 | BBB- | 1540000 | 1423808 |
| New York State Dormitory Authority - Montefiore Obligated Group | 4.00% | 9/1/2050 | BBB- | 5500000 | 4434690 |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.00% | 8/1/2035 | BBB- | 525000 | 530896 |
| New York State Dormitory Authority - Montefiore Obligated Group | 5.50% | 11/1/2047 | BBB- | 1000000 | 1029530 |
| New York State Dormitory Authority - Northwell Health Obligated Group | 5.00% | 5/1/2038 | A- | 1005000 | 1061767 |
| New York State Dormitory Authority - Northwell Health Obligated Group | 5.25% | 5/1/2054 | A- | 5000000 | 5092076 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group | 5.25% | 10/1/2049 | BBB- | 1125000 | 1133596 |
| New York State Dormitory Authority - White Plains Hospital Obligated Group (AG) | 5.50% | 10/1/2054 | AA | 3000000 | 3125740 |
| Niagara Area Development Corp. - Catholic Health System Obligated Group NY | 5.00% | 7/1/2052 | B- | 1000000 | 922192 |
| Oneida County Local Development Corp. - Mohawk Valley Health System Obligated Group NY (AG) | 4.00% | 12/1/2049 | AA | 4645000 | 4038976 |
| Onondaga Civic Development Corp. - Crouse Health Hospital Inc Obligated Group NY | 5.125% | 8/1/2044 | B+ <sup>(b)</sup> | 1250000 | 1014216 |
| Onondaga Civic Development Corp. - Crouse Health Hospital Inc Obligated Group NY | 5.375% | 8/1/2054 | B+ <sup>(b)</sup> | 500000 | 394500 |
| Southold Local Development Corp. - Peconic Landing at Southold Inc NY | 5.00% | 12/1/2045 | BBB- <sup>(b)</sup> | 1000000 | 953132 |
| Tompkins County Development Corp. - Kendal at Ithaca Inc NY | 5.00% | 7/1/2044 | BBB+ | 920000 | 919967 |
| Westchester County Health Care Corp Obligated Group NY | 5.00% | 11/1/2046 | BB+ | 2740000 | 2460608 |
| Westchester County Health Care Corp Obligated Group NY | 6.00% | 11/1/2030 | BB+ | 95000 | 95151 |
| Westchester County Health Care Corp Obligated Group NY | 6.125% | 11/1/2037 | BB+ | 40000 | 40089 |
| Westchester County Health Care Corp Obligated Group NY (AG) | 5.75% | 11/1/2049 | AA | 4295000 | 4595354 |

---

*See Notes to Schedule of Investments.* 199

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Health Care (continued)** |  |  |  |  |  |  |
| Westchester County Health Care Corp Obligated Group NY (AG) | 5.75% |  | 11/1/2053 | AA | $1640000 | $1747458 |
| Westchester County Local Development Corp. - New York Blood Center Inc NY | 5.00% |  | 7/1/2035 | Baa1 | 1510000 | 1626091 |
| Westchester County Local Development Corp. - New York Blood Center Inc NY | 5.00% |  | 7/1/2038 | Baa1 | 950000 | 999026 |
| *Total* |  |  |  |  |  | 75417966 |
| **Housing 2.37%** |  |  |  |  |  |  |
| New York City Housing Development Corp. - 8 Spruce NY Owner LLC | 4.375% |  | 12/15/2031 | Baa3 | 500000 | 511658 |
| New York City Housing Development Corp. - 8 Spruce NY Owner LLC | 5.25% |  | 12/15/2031 | NR | 2250000 | 2304541 |
| New York City Housing Development Corp. - New York City Housing Development Corp | 4.55% |  | 11/1/2054 | AA+ | 1500000 | 1464411 |
| New York City Housing Development Corp. NY | 3.35% |  | 11/1/2065 | AA+ | 1270000 | 905408 |
| New York State Dormitory Authority | 5.00% |  | 7/1/2048 | Aa3 | 1040000 | 1063997 |
| New York State Dormitory Authority | 5.00% |  | 7/1/2053 | Aa3 | 2090000 | 2123581 |
| New York State Housing Finance Agency - 325 Kent LLC (FNMA) | 3.95% | <sup>#(a)</sup> | 11/1/2050 | Aa1 | 3000000 | 2937469 |
| New York State Housing Finance Agency - New York State Housing Finance Agency | 3.15% |  | 11/1/2054 | Aa2 | 1000000 | 699086 |
| Westchester County Local Development Corp. - Purchase Housing Corp II NY | 5.00% |  | 6/1/2047 | BBB | 1815000 | 1698529 |
| *Total* |  |  |  |  |  | 13708680 |
| **Other 0.41%** |  |  |  |  |  |  |
| Build NYC Resource Corp. - Children's Aid Society NY | 4.00% |  | 7/1/2049 | A+ | 2775000 | 2357111 |
| **Other Revenue 2.15%** |  |  |  |  |  |  |
| Brooklyn Arena Local Development Corp. - Brooklyn Events Center LLC NY | 5.00% |  | 7/15/2042 | Ba1 | 3085000 | 3072241 |
| Build NYC Resource Corp. - Shefa School NY<sup>†</sup> | 5.00% |  | 6/15/2051 | NR | 1315000 | 1165546 |
| Triborough Bridge & Tunnel Authority - Metropolitan Transportation Authority Payroll Mobility Tax Revenue NY | 5.00% |  | 11/15/2032 | AA+ | 1250000 | 1405461 |

---

200 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Other Revenue (continued)** |  |  |  |  |  |
| Triborough Bridge & Tunnel Authority - Metropolitan Transportation Authority Payroll Mobility Tax Revenue NY | 5.25% | 5/15/2054 | AA+ | $1500000 | $1550540 |
| Triborough Bridge & Tunnel Authority - Metropolitan Transportation Authority Payroll Mobility Tax Revenue NY | 5.50% | 5/15/2052 | AA+ | 5020000 | 5251058 |
| *Total* |  |  |  |  | 12444846 |
| **Special Tax 3.03%** |  |  |  |  |  |
| New York City Industrial Development Agency - Queens Ballpark Co LLC NY (AG) | 3.00% | 1/1/2040 | AA | 2145000 | 1744207 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY | 4.00% | 3/1/2045 | Baa1 | 1950000 | 1708602 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY (AG) | Zero Coupon | 3/1/2043 | AA | 425000 | 167767 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY (AG) | Zero Coupon | 3/1/2044 | AA | 640000 | 238009 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY (AG) | Zero Coupon | 3/1/2047 | AA | 385000 | 119899 |
| New York City Industrial Development Agency - Yankee Stadium LLC NY (FGIC) | 3.191%<br> (CPI YoY \* 1 + 0.88%) | 3/1/2026 | Baa1 | 3590000 | 3572639 |
| New York City Transitional Finance Authority<sup>(c)</sup> | 5.50% | 5/1/2005 | AAA | 5000000 | 5317301 |
| New York City Transitional Finance Authority<sup>(c)</sup> | 5.50% | 5/1/2052 | AAA | 3000000 | 3185609 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.25% | 11/1/2037 | AAA | 1370000 | 1493911 |
| *Total* |  |  |  |  | 17547944 |
| **Tax Revenue 16.95%** |  |  |  |  |  |
| Metropolitan Transportation Authority Dedicated Tax Fund NY | 5.00% | 11/15/2049 | AA | 1000000 | 1022172 |
| Metropolitan Transportation Authority Dedicated Tax Fund NY | 5.00% | 11/15/2051 | AA | 1000000 | 1020331 |
| Metropolitan Transportation Authority Dedicated Tax Fund NY | 5.00% | 11/15/2052 | AA | 1750000 | 1783547 |
| Metropolitan Transportation Authority Dedicated Tax Fund NY | 5.25% | 11/15/2054 | AA | 3060000 | 3177018 |
| Metropolitan Transportation Authority NY | 5.00% | 11/15/2042 | AA | 2555000 | 2578819 |

---

*See Notes to Schedule of Investments.* 201

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tax Revenue (continued)** |  |  |  |  |  |
| New York City Transitional Finance Authority - New York City Transitional Finance Authority Future Tax Secured Revenue | 5.50% | 11/1/2049 | AAA | $3000000 | $3194841 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 4.00% | 5/1/2053 | AAA | 1215000 | 1043169 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.00% | 11/1/2037 | AAA | 2000000 | 2198198 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.00% | 2/1/2043 | AAA | 4000000 | 4017068 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.00% | 11/1/2043 | AAA | 2000000 | 2084513 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.00% | 5/1/2050 | AAA | 5000000 | 5093549 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.00% | 11/1/2050 | AAA | 1190000 | 1213207 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.00% | 5/1/2053 | AAA | 2500000 | 2531158 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.00% | 11/1/2053 | AAA | 1000000 | 1015879 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.25% | 5/1/2051 | AAA | 6205000 | 6438366 |
| New York City Transitional Finance Authority Future Tax Secured Revenue NY | 5.50% | 11/1/2051 | AAA | 1000000 | 1065737 |
| New York City Transitional Finance Authority NY | 5.25% | 2/1/2053 | AAA | 1750000 | 1812149 |
| New York City Transitional Finance Authority NY | 5.50% | 5/1/2047 | AAA | 5000000 | 5293502 |
| New York Convention Center Development Corp. - New York City Hotel Unit Fee Revenue | 5.00% | 11/15/2040 | A2 | 6585000 | 6589211 |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue | 5.00% | 3/15/2035 | AA+ | 1100000 | 1102965 |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue | 5.00% | 3/15/2054 | Aa1 | 3500000 | 3553783 |
| New York State Dormitory Authority - State of New York Personal Income Tax Revenue<sup>(c)</sup> | 5.25% | 3/15/2052 | Aa1 | 3500000 | 3621043 |
| New York State Dormitory Authority - State of New York Sales Tax Revenue | 5.00% | 3/15/2049 | Aa1 | 3620000 | 3680112 |
| New York State Dormitory Authority - State of New York Sales Tax Revenue | 5.00% | 3/15/2051 | Aa1 | 2385000 | 2416760 |

---

202 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Tax Revenue (continued)** |  |  |  |  |  |
| New York State Dormitory Authority - State of New York Sales Tax Revenue | 5.00% | 3/15/2053 | Aa1 | $3950000 | $3997337 |
| New York State Dormitory Authority - State of New York Sales Tax Revenue | 5.00% | 3/15/2054 | Aa1 | 4500000 | 4551731 |
| New York State Urban Development Corp. | 5.00% | 3/15/2053 | Aa1 | 1835000 | 1857967 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon | 7/1/2029 | NR | 196000 | 167464 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon | 7/1/2031 | NR | 708000 | 553366 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon | 7/1/2033 | NR | 779000 | 555025 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | Zero Coupon | 7/1/2051 | NR | 7476000 | 1747960 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 2510000 | 2357733 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.329% | 7/1/2040 | NR | 1189000 | 1116870 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.536% | 7/1/2053 | NR | 64000 | 55680 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.55% | 7/1/2040 | NR | 250000 | 239883 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.55% | 7/1/2040 | NR | 380000 | 364622 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.75% | 7/1/2053 | NR | 2325000 | 2140703 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 4.784% | 7/1/2058 | NR | 180000 | 164287 |
| Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue | 5.00% | 7/1/2058 | NR | 1922000 | 1809743 |
| Territory of Guam | 4.00% | 1/1/2042 | Baa3 | 750000 | 664732 |
| Triborough Bridge & Tunnel Authority Real Estate Transfer Tax NY | 5.00% | 12/1/2050 | A+ | 2610000 | 2651349 |
| Triborough Bridge & Tunnel Authority Real Estate Transfer Tax NY | 5.25% | 12/1/2047 | A+ | 4250000 | 4434305 |
| Triborough Bridge & Tunnel Authority Sales Tax Revenue NY | 5.00% | 5/15/2054 | AA+ | 1050000 | 1069621 |
| *Total* |  |  |  |  | 98047475 |
| **Taxable Revenue - Water & Sewer 3.08%** |  |  |  |  |  |
| New York City Municipal Water Finance Authority | 5.25% | 6/15/2053 | AA+ | 5715000 | 5949872 |

---

*See Notes to Schedule of Investments.* 203

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Taxable Revenue - Water & Sewer (continued)** |  |  |  |  |  |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 5.00% | 6/15/2046 | AA+ | $1500000 | $1547693 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 5.00% | 6/15/2052 | AA+ | 3000000 | 3069992 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 5.25% | 6/15/2054 | AA+ | 2500000 | 2595961 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 5.25% | 6/15/2055 | AA+ | 4500000 | 4683924 |
| *Total* |  |  |  |  | 17847442 |
| **Tobacco 2.27%** |  |  |  |  |  |
| Erie Tobacco Asset Securitization Corp. NY | Zero Coupon | 6/1/2055 | NR | 8000000 | 601591 |
| Erie Tobacco Asset Securitization Corp. NY<sup>†</sup> | Zero Coupon | 6/1/2060 | NR | 20000000 | 784836 |
| Monroe Tobacco Asset Securitization Corp. NY<sup>†</sup> | Zero Coupon | 6/1/2061 | NR | 10000000 | 425650 |
| Nassau County Tobacco Settlement Corp. NY | Zero Coupon | 6/1/2060 | NR | 15000000 | 854655 |
| Nassau County Tobacco Settlement Corp. NY | 5.125% | 6/1/2046 | CCC+ | 2085000 | 1749926 |
| New York Counties Tobacco Trust IV | Zero Coupon | 6/1/2060 | NR | 20000000 | 903334 |
| Rockland Tobacco Asset Securitization Corp. NY<sup>†</sup> | Zero Coupon | 8/15/2060 | NR | 10575000 | 739897 |
| Suffolk Tobacco Asset Securitization Corp. NY | Zero Coupon | 6/1/2066 | NR | 7700000 | 685453 |
| TSASC, Inc. NY | 5.00% | 6/1/2034 | BBB | 1000000 | 1008863 |
| TSASC, Inc. NY | 5.00% | 6/1/2035 | BBB | 300000 | 302001 |
| TSASC, Inc. NY | 5.00% | 6/1/2036 | BBB | 100000 | 100449 |
| TSASC, Inc. NY | 5.00% | 6/1/2041 | BBB | 545000 | 531655 |
| TSASC, Inc. NY | 5.00% | 6/1/2048 | NR | 3300000 | 2880614 |
| Westchester Tobacco Asset Securitization Corp. NY | 5.125% | 6/1/2051 | B- | 1845000 | 1555293 |
| *Total* |  |  |  |  | 13124217 |
| **Transportation 23.85%** |  |  |  |  |  |
| Build NYC Resource Corp. - TRIPS Obligated Group NY AMT | 5.50% | 7/1/2050 | BBB+ | 3100000 | 3172140 |

---

<br> 204 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| Metropolitan Transportation Authority NY | 4.00% |  | 11/15/2048 | A2 | $1750000 | $1493153 |
| Metropolitan Transportation Authority NY | 4.00% |  | 11/15/2051 | A2 | 3200000 | 2667788 |
| Metropolitan Transportation Authority NY | 4.75% |  | 11/15/2045 | A2 | 3255000 | 3176616 |
| Metropolitan Transportation Authority NY | 5.00% |  | 11/15/2029 | A2 | 1730000 | 1738634 |
| Metropolitan Transportation Authority NY | 5.00% | <sup>#(a)</sup> | 11/15/2045 | A2 | 3030000 | 3204239 |
| Metropolitan Transportation Authority NY | 5.00% |  | 11/15/2046 | A2 | 1250000 | 1236724 |
| Metropolitan Transportation Authority NY | 5.00% |  | 11/15/2050 | A2 | 4340000 | 4303596 |
| Metropolitan Transportation Authority NY | 5.25% |  | 11/15/2028 | A2 | 1990000 | 2003706 |
| Metropolitan Transportation Authority NY | 5.25% |  | 11/15/2049 | A2 | 4355000 | 4452656 |
| Metropolitan Transportation Authority NY | 5.25% |  | 11/15/2055 | A2 | 2000000 | 2040000 |
| Metropolitan Transportation Authority NY | 5.50% |  | 11/15/2047 | A2 | 3135000 | 3280916 |
| New York City Transitional Development Corp. - JFK NTO LLC NY AMT | 5.375% |  | 6/30/2060 | Baa3 | 6945000 | 6821189 |
| New York City Transitional Development Corp. - JFK NTO LLC NY AMT | 6.00% |  | 6/30/2054 | Baa3 | 10000000 | 10335332 |
| New York State Thruway Authority - Junior Lien | 5.00% |  | 1/1/2036 | A1 | 1510000 | 1518924 |
| New York State Thruway Authority NY | 5.25% |  | 1/1/2054 | Aa3 | 1500000 | 1554322 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 4.00% |  | 1/1/2036 | Baa2 | 3625000 | 3402841 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% |  | 1/1/2036 | Baa2 | 3370000 | 3397657 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.00% |  | 10/1/2040 | Baa2 | 4645000 | 4625030 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 5.625% |  | 4/1/2040 | Baa2 | 1500000 | 1542450 |
| New York Transportation Development Corp. - Delta Air Lines Inc AMT | 6.00% |  | 4/1/2035 | Baa2 | 1500000 | 1632551 |
| New York Transportation Development Corp. - Empire State Thruway Partners LLC AMT | 4.00% |  | 10/31/2041 | BBB- <sup>(b)</sup> | 860000 | 758558 |
| New York Transportation Development Corp. - Empire State Thruway Partners LLC AMT | 4.00% |  | 10/31/2046 | BBB- <sup>(b)</sup> | 1500000 | 1265845 |
| New York Transportation Development Corp. - Empire State Thruway Partners LLC AMT | 4.00% |  | 4/30/2053 | BBB- <sup>(b)</sup> | 4910000 | 3916006 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC | 4.00% |  | 12/1/2042 | Baa1 | 1800000 | 1615043 |

---

<br> *See Notes to Schedule of Investments.* 205

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | **Interest<br> Rate** | | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or <br> Moody's** | **Principal <br> Amount** | **Fair<br> Value** |
| **Transportation (continued)** |  |  |  |  |  |  |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 4.00% |  | 12/1/2039 | Baa1 | $345000 | $309180 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 4.00% |  | 12/1/2040 | Baa1 | 1450000 | 1283271 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 4.00% |  | 12/1/2041 | Baa1 | 2950000 | 2585948 |
| New York Transportation Development Corp. - JFK International Air Terminal LLC AMT | 5.00% |  | 12/1/2042 | Baa1 | 1055000 | 1038995 |
| New York Transportation Development Corp. - JFK Millennium Partners LLC AMT | 5.50% |  | 12/31/2060 | BBB- | 15000000 | 15010806 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.25% |  | 6/30/2049 | Baa3 | 2500000 | 2491880 |
| New York Transportation Development Corp. - JFK NTO LLC AMT | 5.50% |  | 6/30/2060 | Baa3 | 7380000 | 7384632 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 4.00% |  | 7/1/2033 | Baa2 | 2840000 | 2808840 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 4.00% |  | 7/1/2046 | Baa2 | 2315000 | 1930898 |
| New York Transportation Development Corp. - Laguardia Gateway Partner AMT | 5.25% |  | 1/1/2050 | Baa2 | 13805000 | 13620266 |
| Port Authority of New York & New Jersey | 5.00% |  | 10/15/2041 | AA- | 4090000 | 4095684 |
| Port Authority of New York & New Jersey | 5.00% |  | 7/15/2046 | AA- | 1250000 | 1293007 |
| Port Authority of New York & New Jersey | 5.00% |  | 9/1/2054 | AA- | 2675000 | 2736209 |
| Port Authority of New York & New Jersey AMT | 5.00% |  | 10/15/2034 | AA- | 1895000 | 1898892 |
| Port Authority of New York & New Jersey AMT | 5.50% |  | 8/1/2052 | AA- | 4225000 | 4350882 |
| *Total* |  |  |  |  |  | 137995306 |
| **Utilities 2.86%** |  |  |  |  |  |  |
| Chautauqua County Capital Resource Corp. - NRG Energy Inc NY | 4.25% | <sup>#(a)</sup> | 4/1/2042 | BBB- | 1000000 | 1007608 |
| Long Island Power Authority NY | 5.00% |  | 9/1/2053 | A | 2000000 | 2017660 |
| Long Island Power Authority NY | 5.00% |  | 9/1/2054 | A | 5000000 | 5054889 |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 5.25% |  | 6/15/2048 | AA+ | 2050000 | 2130734 |

---

<br> 206 *See Notes to Schedule of Investments.*

**Schedule of Investments (unaudited)(continued)**

NEW YORK TAX FREE FUND *June 30, 2025*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Investments** | | **Interest<br> Rate** | **Maturity<br> Date** | **Credit<br> Rating:<br> S&P or<br> Moody's** | **Principal<br> Amount** | **Fair<br> Value** |
| **Utilities (continued)** |  |  |  |  |  |  |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 5.25% | 6/15/2053 | AA+ | $3000000 | $3100081 |
| New York State Environmental Facilities Corp. - State of New York State Revolving Fund | New York State Environmental Facilities Corp. - State of New York State Revolving Fund | 5.25% | 6/15/2053 | AAA | 2000000 | 2099565 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 4.00% | 7/1/2042 | NR | 700000 | 609351 |
| Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | Puerto Rico Commonwealth Aqueduct & Sewer Authority<sup>†</sup> | 5.00% | 7/1/2030 | NR | 500000 | 519912 |
| *Total* | *Total* |  |  |  |  | 16539800 |
| *Total Municipal Bonds* (cost $618,439,030) | *Total Municipal Bonds* (cost $618,439,030) |  |  |  |  | 583475683 |
|  | **Interest**<br> **Rate**<sup>#</sup> | **Interest**<br> **Rate**<br> **Reset**<br> **Date**<sup>(d)</sup> | **Final<br> Maturity<br> Date** |  |  |  |
| **SHORT-TERM INVESTMENTS 0.17%** |  |  |  |  |  |  |
| **Variable Rate Demand Notes 0.17%** |  |  |  |  |  |  |
| **Utilities** |  |  |  |  |  |  |
| New York City Municipal Water Finance Authority - New York City Water & Sewer System NY | 3.900% | 7/1/2025 | 6/15/2033 | AA+ | 1000000 | 1000000 |
| *Total Short-Term Investments* (cost $1,000,000) |  |  |  |  |  | 1000000 |
| *Total Investments in Securities 101.03%* (cost $619,439,030) | *Total Investments in Securities 101.03%* (cost $619,439,030) |  |  |  |  | 584475683 |
| *Other Assets and Liabilities – Net*<sup>(e)</sup> *(1.03)%* | *Other Assets and Liabilities – Net*<sup>(e)</sup> *(1.03)%* |  |  |  |  | (5986319) |
| *Net Assets 100.00%* |  |  |  |  |  | $578489364 |

---

---

| | |
|:---|:---|
| AG | Insured by - Assured Guaranty, inc. |
| AMT | Income from the security may be subject to Alternative Minimum Tax. |
| BAM | Insured by - Build America Mutual. |
| CPI | Consumer Price Index: Rate fluctuates based on CPI. |
| FGIC | Insured by - Financial Guaranty Insurance Company. |
| FHA | Insured by - Federal Housing Administration. |
| FNMA | Federal National Mortgage Association. |
| NR | Not Rated. |
| TRIPS | Tax Refund Intercept Programs. |
| YoY | Year on Year Inflation Rates. |

---

---

| | |
|:---|:---|
| <sup>†</sup> | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and, unless registered under such Act or exempted from registration, may only be resold to qualified institutional buyers. At June 30, 2025, the total value of Rule 144A securities was $26,793,454, which represents 4.63% of net assets. |
| <sup>#</sup> | Variable rate security. The interest rate represents the rate in effect at June 30, 2025. |

---

<br> *See Notes to Schedule of Investments.* 207

**Schedule of Investments (unaudited)(concluded)**

NEW YORK TAX FREE FUND *June 30, 2025*

<sup>(a)</sup> Variable Rate is Fixed to Float: Rate remains fixed or at Zero Coupon until designated future date.

<sup>(b)</sup> This investment has been rated by Fitch IBCA.

<sup>(c)</sup> Municipal Bonds Held in Trust – Securities represent underlying bonds transferred to a separate securitization trust established in a tender option bond transaction in which the Fund acquired the residual interest certificates. These securities serve as collateral in a financing transaction. See Note to Financial Statements for details of Municipal Bonds Held in Trust.

<sup>(d)</sup> The interest rate reset date shown represents the date in which the Fund has the right to sell a Variable Rate Demand Note ("VRDN") back to the issuer for Principal Amount. The interest rate on the VRDN is generally reset daily based on the SIFMA Municipal Swap Index.

<sup>(e)</sup> Other Assets and Liabilities – Net include net unrealized appreciation/(depreciation) on futures contracts as follows:

**Futures Contracts at June 30, 2025:**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Type** | **Expiration** | **Contracts** | **Position** | **Notional<br> Amount** | **Notional<br> Value** | **Unrealized<br> Depreciation** |
| U.S. Long Bond | September 2025 | 88 | Short | $(9812386) | $(10161250) | $(348864) |

---

The following is a summary of the inputs used as of June 30, 2025 in valuing the Fund's investments carried at fair value<sup>(1)</sup>:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Investment Type**<sup>(2)</sup> | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Long-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Municipal Bonds<sup>(3)</sup> | $– | $583475683 | $– | $583475683 |
| **Short-Term Investments** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Variable Rate Demand Notes | – | 1000000 |  | 1000000 |
| Total | $– | $584475683 | $– | $584475683 |
| **Other Financial Instruments** |  |  |  |  |
| Futures Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Assets | $– | $– | $– | $– |
| &nbsp;&nbsp;&nbsp;Liabilities | (348864) | – | – | (348864) |
| Total | $(348864) | $– | $– | $(348864) |

---

---

| | |
|:---|:---|
| |  |
| <sup>(1)</sup> | Refer to Note 2(a) for a description of fair value measurements and the three-tier hierarchy of inputs. |
| <sup>(2)</sup> | See Schedule of Investments for fair values in each industry. The table above is presented by Investment Type. Industries are presented within an Investment Type should such Investment Type include securities classified as two or more levels within the three-tier fair value hierarchy. When applicable, each Level 3 security is identified on the Schedule of Investments along with the valuation technique utilized. |
| <sup>(3)</sup> | Includes Municipal Bonds held in the Trust. |

---

A reconciliation of Level 3 investments is presented when the Fund has a material amount of Level 3 investments at the beginning or end of the period in relation to the Fund's net assets.

208 *See Notes to Schedule of Investments.*

**Notes to Schedule of Investments (unaudited)**

**1.** **ORGANIZATION** 

Lord Abbett Municipal Income Fund, Inc. (the "Company") is registered under the Investment Company Act of 1940, as amended (the "Act"), as an open-end management investment company. The Company was organized as a Maryland corporation on December 27, 1983.

The Company currently consists of the following eight funds (separately, a "Fund" and collectively, the "Funds") and their respective active share classes:

---

| | |
|:---|:---|
| **Funds** | **Classes** |
| Lord Abbett Short Duration Tax Free Fund ("Short Duration") | A,C,F,F3 and I |
| Lord Abbett Intermediate Tax Free Fund ("Intermediate") | A,C,F,F3 and I |
| Lord Abbett National Tax-Free Income Fund ("National") | A,C,F,F3 and I |
| Lord Abbett High Income Municipal Bond Fund ("High Income") | A,C,F,F3 and I |
| Lord Abbett Short Duration High Income Municipal Bond Fund ("Short Duration High Income") | A,C,F,F3 and I |
| Lord Abbett California Tax-Free Income Fund ("California") | A,C,F,F3 and I |
| Lord Abbett New Jersey Tax-Free Income Fund ("New Jersey") | A,F,F3 and I |
| Lord Abbett New York Tax-Free Income Fund ("New York") | A,C,F,F3 and I |

---

Short Duration, Intermediate, National, High Income, Short Duration High Income and California are diversified as defined in the Act. New Jersey and New York are non-diversified as defined in the Act.

The investment objective of each Fund (except for High Income and Short Duration High Income) is to seek the maximum amount of interest income exempt from federal income tax as is consistent with reasonable risk. The investment objective of High Income and Short Duration High Income is to seek a high level of income exempt from federal income tax. Each of California, New Jersey and New York also seeks as high a level of interest income exempt from the personal income tax of its corresponding state as is consistent with reasonable risk. In addition, New York seeks as high a level of interest income exempt from New York City personal income tax as is consistent with reasonable risk.

**2.**  **SIGNIFICANT ACCOUNTING POLICIES** 

---

| | |
|:---|:---|
| (a) | **Investment Valuation–**Under procedures approved by the Funds' Board of Directors (the "Board"), the Board has designated the determination of fair value of the Funds' portfolio investments to Lord, Abbett & Co. LLC ("Lord Abbett") as its valuation designee. Accordingly, Lord Abbett is responsible for, among other things, assessing and managing valuation risks, establishing, applying and testing fair value methodologies, and evaluating pricing services. Lord Abbett has formed a Pricing Committee that performs these responsibilities on behalf of Lord Abbett, administers the pricing and valuation of portfolio investments and ensures that prices utilized reasonably reflect fair value. Among other things, these procedures allow Lord Abbett, subject to Board oversight, to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value. |
|  | Securities are valued based on evaluated prices supplied by independent pricing services, which reflect broker/dealer supplied valuations and the independent pricing services' own electronic data processing techniques. Exchange traded options and futures contracts are valued at the last quoted sale price in the market where they are principally traded. If no sale has occurred, the mean between the most recently quoted bid and ask prices is used. |

---

**Notes to Schedule of Investments (unaudited)(continued)**

---

| |
|:---|
| Securities for which prices are not readily available are valued at fair value as determined by the Pricing Committee. The Pricing Committee considers a number of factors, including observable and unobservable inputs, when arriving at fair value. The Pricing Committee may use observable inputs such as yield curves, broker quotes, observable trading activity, option adjusted spread models and other relevant information to determine the fair value of portfolio investments. The Board or a designated committee thereof periodically reviews reports that may include fair value determinations made by the Pricing Committee, related market activity, inputs and assumptions, and retrospective comparison of prices of subsequent purchases and sales transactions to fair value determinations made by the Pricing Committee. |
| Short-term securities with 60 days or less remaining to maturity are valued using the amortized cost method, which approximates fair value. Investments in open-end money market mutual funds are valued at their net asset value as of the close of each business day. |
| **Fair Value Measurements–**Fair value is defined as the price that each Fund would receive upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy 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. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk - for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. 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 the reporting entity's own 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 three-tier hierarchy classification is determined based on the lowest level of inputs that is significant to the fair value measurement, and is summarized in the three broad Levels listed below: |

---

&nbsp;&nbsp;&nbsp;&nbsp;● Level 1 – unadjusted quoted prices in active markets for identical investments;

● Level 2 – other significant observable inputs (including quoted prices for similar
 investments, interest rates, prepayment speeds, credit risk, etc.); and

● Level 3 – significant unobservable inputs (including each Fund's own assumptions
 in determining the fair value of investments).

---

| |
|:---|
| A summary of inputs used in valuing each Fund's investments and other financial instruments as of June 30, 2025 and, if applicable, Level 3 rollforwards for the period then ended is included in each Fund's Schedule of Investments. |
| Changes in valuation techniques may result in transfers into or out of an assigned level within the three-tier hierarchy. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. |

---

**Notes to Schedule of Investments (unaudited)(concluded)**

**3.**  **FEDERAL TAX INFORMATION** 

It is the policy of each Fund to meet the requirements of Subchapter M of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all taxable income and capital gains to its shareholders. Therefore, no income tax provision is required.

Each Fund files U.S. federal and various state and local tax returns. No income tax returns are currently under examination. The statute of limitations on each Fund's filed U.S. federal tax returns remains open generally three years after the filing of the tax return. The statutes of limitations on each Fund's state and local tax returns may remain open for an additional year depending upon the jurisdiction.

**4.**  **SECURITIES LENDING AGREEMENT** 

The Funds have established a securities lending agreement with Citibank, N.A. for the lending of securities to qualified brokers in exchange for securities or cash collateral equal to at least the market value of securities loaned, plus interest, if applicable. Cash collateral is invested in an approved money market fund. In accordance with the Funds' securities lending agreement, the market value of securities on loan is determined each day at the close of business and any additional collateral required to cover the value of securities on loan is delivered to the Funds on the next business day. As with other extensions of credit, the Funds may experience a delay in the recovery of their securities or incur a loss should the borrower of the securities breach its agreement with the Funds or the borrower becomes insolvent at a time when the collateral is insufficient to cover the cost of repurchasing securities on loan.

The initial collateral received by the Funds is required to have a value equal to at least 100% of the market value of the securities loaned. The collateral must be marked-to-market daily to cover increases in the market value of the securities loaned (or potentially a decline in the value of the collateral). In general, the risk of borrower default will be borne by Citibank, N.A.; the Funds will bear the risk of loss with respect to the investment of the cash collateral. The advantage of such loans is that the Funds continue to receive income on loaned securities while receiving a portion of any securities lending fees and earning returns on the cash amounts which may be reinvested for the purchase of investments in securities.

As of June 30, 2025, the Funds did not have any securities on loan.

QPHR-MUNI-3Q

(08/25)

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** LORD ABBETT MUNICIPAL INCOME FUND INC

- **b. Investment Company Act file number:** 811-03942

- **c. CIK number of Registrant:** 0000737800

- **d. LEI of Registrant:** 549300XUEL89M6K51F43

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 30 HUDSON STREET

  - **City:** JERSEY CITY

  - **State:** NJ

  - **Foreign country:** US

  - **Zip / Postal Code:** 07302

  - **Telephone number:** 201-827-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** Lord Abbett New York Tax-Free Income Fund

- **b. EDGAR series identifier (if any):** S000007539

- **c. LEI of Series:** TJ0JHUJX8UEYQR7MMK22

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $581954443.50

**Total Liabilities:** $2218009.61

**Net Assets:** $579736433.89

**Cash Not Reported:** $1027471.27

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -1395.38000000 | **1-Year:** -14974.40000000 | **5-Year:** -70162.65000000 | **10-Year:** -233401.87000000 | **30-Year:** -111169.96000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -176.24000000 | **1-Year:** -3397.84000000 | **5-Year:** -10852.95000000 | **10-Year:** -19166.54000000 | **30-Year:** -16353.09000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000096847 | -0.75%               | -0.66%               | 0.31%                |
| Class ID C000020595 | -0.67%               | -0.68%               | 0.30%                |
| Class ID C000188224 | -0.75%               | -0.66%               | 0.32%                |
| Class ID C000020596 | -0.82%               | -0.74%               | 0.24%                |
| Class ID C000054748 | -0.66%               | -0.67%               | 0.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-303499.27              | $-5873508.14                               |
| Month 2  | $-278710.17              | $-5701304.28                               |
| Month 3  | $-729505.48              | $874403.72                                 |

### Schedule of Portfolio Investments

| Name                                                         | Title                                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000BNB0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1061766.82   | 0.18%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH GEN REVENUE JUNIOR INDEBTEDNESS OBL | New York State Thruway Authority                                        | CUSIP: 650010AV3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1510000 | PA      | $1518923.95   | 0.26%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL AUTH REAL ESTATE TRANSFER TAX  | Triborough Bridge & Tunnel Authority                                    | CUSIP: 896032BA6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   2610000 | PA      | $2651348.66   | 0.46%             | 2050-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000BRG5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031121.50   | 0.18%             | 2037-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CNTYS NY TOBACCO TRUST IV                           | New York Counties Tobacco Trust IV                                      | CUSIP: 62947YAK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20000000 | PA      | $903334.00    | 0.16%             | 2060-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116AV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  13805000 | PA      | $13620265.63  | 2.35%             | 2050-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TROY NY CAPITAL RESOURCE CORP REVENUE                        | Troy Capital Resource Corp                                              | CUSIP: 897579BD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1495000 | PA      | $1506322.08   | 0.26%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 649906J54<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    500000 | PA      | $495638.60    | 0.09%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116HQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7380000 | PA      | $7384631.69   | 1.27%             | 2060-06-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ST LAWRENCE CNTY NY INDL DEV AGY CIVIC DEV CORP REVENUE      | St Lawrence County Industrial Development Agency                        | CUSIP: 791078CU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    455000 | PA      | $461033.57    | 0.08%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NIAGARA NY AREA DEV CORP REVENUE                             | Niagara Area Development Corp                                           | CUSIP: 653541BJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $922191.80    | 0.16%             | 2052-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GUAM GOVT BUSINESS PRIVILEGE TAX REVENUE                     | Territory of Guam                                                       | CUSIP: 40065NCR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $664731.68    | 0.11%             | 2042-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY NY INDL DEV CORP REVENUE                         | Monroe County Industrial Development Corp/NY                            | CUSIP: 61075TRN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253064.73    | 0.04%             | 2034-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY REVENUE                        | New York City Industrial Development Agency                             | CUSIP: 64971PLK9<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   3170000 | PA      | $2286594.54   | 0.39%             | 2046-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116HA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6945000 | PA      | $6821189.40   | 1.18%             | 2060-06-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000B7X0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1133596.46   | 0.20%             | 2049-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971X2N7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1370000 | PA      | $1493911.29   | 0.26%             | 2037-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | New York City Transitional Finance Authority                            | CUSIP: 64972JMK1<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5093549.00   | 0.88%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116CP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3370000 | PA      | $3397656.92   | 0.59%             | 2036-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990GGG1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1820000 | PA      | $1705787.90   | 0.29%             | 2037-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY TOBACCO SETTLEMENT CORP                       | Nassau County Tobacco Settlement Corp                                   | CUSIP: 63166MCB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2085000 | PA      | $1749925.91   | 0.30%             | 2046-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     64000 | PA      | $55679.71     | 0.01%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                                | Metropolitan Transportation Authority                                   | CUSIP: 59261A2G1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3135000 | PA      | $3280915.75   | 0.57%             | 2047-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045PE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1265523.74   | 0.22%             | 2051-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971X7H5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3295470.38   | 0.57%             | 2051-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116HK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2491879.75   | 0.43%             | 2049-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | Westchester County Local Development Corp                               | CUSIP: 95737TCL8<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   2165000 | PA      | $2152057.20   | 0.37%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                                  | City of New York NY                                                     | CUSIP: 64966MQZ5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2565560.50   | 0.44%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | Westchester County Local Development Corp                               | CUSIP: 95737TFN1<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   4295000 | PA      | $4595353.65   | 0.79%             | 2049-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116AK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2840000 | PA      | $2808840.37   | 0.48%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY REVENUE                        | New York City Industrial Development Agency                             | CUSIP: 64971PLJ2<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   2145000 | PA      | $1744207.39   | 0.30%             | 2040-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REVENUE                           | Build NYC Resource Corp                                                 | CUSIP: 12008ELR5<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1098761.42   | 0.19%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | Westchester County Local Development Corp                               | CUSIP: 95737TFT8<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    950000 | PA      | $999025.89    | 0.17%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045MJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1107683.50   | 0.19%             | 2044-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000BN95<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2090000 | PA      | $2123581.28   | 0.37%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP SALES TAX REVENUE                 | New York State Urban Development Corp                                   | CUSIP: 64985TES6<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5079869.50   | 0.88%             | 2050-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | Westchester County Local Development Corp                               | CUSIP: 95737TFR2<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   1640000 | PA      | $1747457.72   | 0.30%             | 2053-11-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                                   | Onondaga Civic Development Corp                                         | CUSIP: 682832JM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $137772.87    | 0.02%             | 2038-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REVENUE                           | Build NYC Resource Corp                                                 | CUSIP: 12008EQN9<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   2775000 | PA      | $2357110.81   | 0.41%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000B4Y1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3273691.85   | 0.56%             | 2049-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES      | Tender Option Bond Trust Receipts/Certificates                          | CUSIP: 64972JNR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1685609.10   | 0.29%             | 2052-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LIBERTY DEV CORP NY REVENUE                                  | New York Liberty Development Corp                                       | CUSIP: 531127AC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7215000 | PA      | $8099282.67   | 1.40%             | 2035-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP EXEMPT FAC REVENUE            | New York Transportation Development Corp                                | CUSIP: 650110AD1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1265844.90   | 0.22%             | 2046-10-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX      | Triborough Bridge & Tunnel Authority                                    | CUSIP: 89602HEQ6<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   5020000 | PA      | $5251058.05   | 0.91%             | 2052-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                                   | Onondaga Civic Development Corp                                         | CUSIP: 682832JP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $570680.58    | 0.10%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                                  | City of New York NY                                                     | CUSIP: 64966SMF0<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    500000 | PA      | $519574.90    | 0.09%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH SALES TAX REVENUE                      | New York State Dormitory Authority                                      | CUSIP: 64990AST3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2523291.50   | 0.44%             | 2053-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY REVENUE                        | New York City Industrial Development Agency                             | CUSIP: 64971PKL8<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $1708602.09   | 0.29%             | 2045-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP MF MTGE REVENUE                | New York City Housing Development Corp                                  | CUSIP: 64966TGX6<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2304541.35   | 0.40%             | 2031-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH SALES TAX REVENUE                      | New York State Dormitory Authority                                      | CUSIP: 64990AUH6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3950000 | PA      | $3997337.20   | 0.69%             | 2053-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | New York Liberty Development Corp                                       | CUSIP: 649519DP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2790000 | PA      | $2407484.30   | 0.42%             | 2032-11-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045HQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $394081.19    | 0.07%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY                                               | County of Nassau NY                                                     | CUSIP: 63165T4K8<br>LEI: 549300ICRCGQYCPS7T40 | Long             | DBT              | MUN               | US        |   2140000 | PA      | $1863969.53   | 0.32%             | 2053-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116DT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3280982.40   | 0.57%             | 2038-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                                  | City of New York NY                                                     | CUSIP: 64966SBA3<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2586683.50   | 0.45%             | 2053-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY NY INDL DEV CORP REVENUE                         | Monroe County Industrial Development Corp/NY                            | CUSIP: 61075TWK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $433926.45    | 0.07%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                                  | City of New York NY                                                     | CUSIP: 64966SJY3<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2079524.40   | 0.36%             | 2050-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ST LAWRENCE CNTY NY INDL DEV AGY CIVIC DEV CORP REVENUE      | St Lawrence County Industrial Development Agency                        | CUSIP: 791078CY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $153809.50    | 0.03%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP SALES TAX REVENUE                 | New York State Urban Development Corp                                   | CUSIP: 64985TEV9<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1857966.86   | 0.32%             | 2053-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REVENUE                           | Build NYC Resource Corp                                                 | CUSIP: 12008ERW8<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1315000 | PA      | $1165545.65   | 0.20%             | 2051-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST THRUWAY AUTH                                     | New York State Thruway Authority                                        | CUSIP: 6500092J1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1554322.20   | 0.27%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000BJD1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    375000 | PA      | $369650.25    | 0.06%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2510000 | PA      | $2357732.86   | 0.41%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | New York City Municipal Water Finance Authority                         | CUSIP: 64972GN26<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1547692.95   | 0.27%             | 2046-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | New York Liberty Development Corp                                       | CUSIP: 649519DB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $750053.03    | 0.13%             | 2034-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JERSEY NY                        | Port Authority of New York & New Jersey                                 | CUSIP: 73358WZH0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   4090000 | PA      | $4095683.87   | 0.71%             | 2041-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                           | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3G0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    209517 | PA      | $215664.10    | 0.04%             | 2027-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045HV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $268998.70    | 0.05%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONEIDA CO NY LOCAL DEV CORP REVENUE                          | Oneida County Local Development Corp                                    | CUSIP: 682440BM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4645000 | PA      | $4038976.14   | 0.70%             | 2049-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990CPU9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2900000 | PA      | $2915078.26   | 0.50%             | 2029-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | New York City Municipal Water Finance Authority                         | CUSIP: 64972GL85<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4683924.00   | 0.81%             | 2055-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64985SBX0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039505.30   | 0.18%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LIBERTY DEV CORP NY REVENUE                                  | New York Liberty Development Corp                                       | CUSIP: 531127CM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3650000 | PA      | $4152860.14   | 0.72%             | 2037-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP EXEMPT FAC REVENUE            | New York Transportation Development Corp                                | CUSIP: 650110AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4910000 | PA      | $3916005.85   | 0.68%             | 2053-04-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | New York Liberty Development Corp                                       | CUSIP: 649519DH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4630000 | PA      | $4223019.76   | 0.73%             | 2069-09-15      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2325000 | PA      | $2140702.83   | 0.37%             | 2053-07-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                                | Metropolitan Transportation Authority                                   | CUSIP: 59261AG68<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3030000 | PA      | $3204239.24   | 0.55%             | 2045-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| ERIE CNTY NY TOBACCO ASSET SECURITIZATION CORP TOBACCO SETTL | Erie Tobacco Asset Securitization Corp                                  | CUSIP: 295095BM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  20000000 | PA      | $784836.00    | 0.14%             | 2060-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                       | US LONG BOND(CBT) SEP25                                                 | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -88 | NC      | $-348864.03   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116HW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $15010806.00  | 2.59%             | 2060-12-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1922000 | PA      | $1809743.09   | 0.31%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ROCKLAND NY TOBACCO ASSET SECURITIZATION CORP TOBACCO SETTLE | Rockland Tobacco Asset Securitization Corp                              | CUSIP: 773684AP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10575000 | PA      | $739896.80    | 0.13%             | 2060-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                           | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3J4<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    215202 | PA      | $232264.03    | 0.04%             | 2031-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY REVENUE                        | New York City Industrial Development Agency                             | CUSIP: 64971PFB6<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   3590000 | PA      | $3572638.76   | 0.62%             | 2026-03-01      | Floating      | 3.19%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | Westchester County Local Development Corp                               | CUSIP: 95737TEH5<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    200000 | PA      | $205293.60    | 0.04%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64985SKB8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2710000 | PA      | $2803745.68   | 0.48%             | 2055-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | Westchester County Local Development Corp                               | CUSIP: 95737TCD6<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   2740000 | PA      | $2460607.68   | 0.42%             | 2046-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                                | Metropolitan Transportation Authority                                   | CUSIP: 59259Y6C8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2003706.52   | 0.35%             | 2028-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL AUTH REAL ESTATE TRANSFER TAX  | Triborough Bridge & Tunnel Authority                                    | CUSIP: 896032AY5<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4434304.65   | 0.76%             | 2047-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971X3Z9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2149950.00   | 0.37%             | 2040-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL AUTH SALES TAX REVENUE         | Triborough Bridge & Tunnel Authority Sales Tax Revenue                  | CUSIP: 896035DE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1069621.04   | 0.18%             | 2054-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990BR62<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1048088.39   | 0.18%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST ENVRNMNTL FACS CORP SOL WST DISP REVENUE         | New York State Environmental Facilities Corp                            | CUSIP: 649852AS9<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |    500000 | PA      | $498000.95    | 0.09%             | 2050-09-01      | Floating      | 2.75%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | Westchester County Local Development Corp                               | CUSIP: 95737TFS0<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   1510000 | PA      | $1626091.37   | 0.28%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | Westchester County Local Development Corp                               | CUSIP: 95737TCP9<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1667556.77   | 0.29%             | 2033-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ST LAWRENCE CNTY NY INDL DEV AGY CIVIC DEV CORP REVENUE      | St Lawrence County Industrial Development Agency                        | CUSIP: 791078CV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $477435.99    | 0.08%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE NY TOBACCO ASSET SECURITIZATION CORP TOBACCO SETTLEME | Monroe Tobacco Asset Securitization Corp                                | CUSIP: 611277BJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $425650.00    | 0.07%             | 2061-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64985SBU6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2020623.20   | 0.35%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971X8M3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2531158.00   | 0.44%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971X8L5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1215000 | PA      | $1043168.63   | 0.18%             | 2053-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045LL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2120000 | PA      | $2131044.56   | 0.37%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                                | Metropolitan Transportation Authority                                   | CUSIP: 59259Y6M6<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1738633.91   | 0.30%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST ENVRNMNTL FACS CORP ST CLEAN WTR & DRINKING WTR  | New York State Environmental Facilities Corp                            | CUSIP: 64986DPL3<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2099565.20   | 0.36%             | 2053-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116CQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3625000 | PA      | $3402840.79   | 0.59%             | 2036-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116CZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4645000 | PA      | $4625030.22   | 0.80%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                                   | Onondaga Civic Development Corp                                         | CUSIP: 682832KJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $394500.10    | 0.07%             | 2054-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990BQJ5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2218857.81   | 0.38%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | New York City Municipal Water Finance Authority                         | CUSIP: 64972GH98<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2595960.75   | 0.45%             | 2054-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000BN87<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1063996.65   | 0.18%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | New York City Municipal Water Finance Authority                         | CUSIP: 64972GL69<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3069992.40   | 0.53%             | 2052-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOMPKINS CNTY NY DEV CORP CONTINUING CARE RETMNT REVENUE     | Tompkins County Development Corp                                        | CUSIP: 890090AM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $919967.16    | 0.16%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY AFFORDABLE HSG REVENUE               | New York State Housing Finance Agency                                   | CUSIP: 64987JY96<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2937468.60   | 0.51%             | 2050-11-01      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                                  | City of New York NY                                                     | CUSIP: 64966SCS3<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1550993.10   | 0.27%             | 2054-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HEMPSTEAD TOWN NY LOCAL DEV CORP REVENUE                     | Hempstead Town Local Development Corp                                   | CUSIP: 424682HV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $835890.33    | 0.14%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116CV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1191454.24   | 0.21%             | 2031-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | Metropolitan Transportation Authority Dedicated Tax Fund                | CUSIP: 59260XCV8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1783546.63   | 0.31%             | 2052-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000B6M5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5092076.50   | 0.88%             | 2054-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SOUTHOLD NY LOCAL DEV CORP REVENUE                           | Southold Local Development Corp                                         | CUSIP: 844584AL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $953132.10    | 0.16%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $164287.44    | 0.03%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER NY TOBACCO ASSET SECURITIZATION                  | Westchester Tobacco Asset Securitization Corp                           | CUSIP: 957480BU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1845000 | PA      | $1555292.93   | 0.27%             | 2051-06-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| TSASC INC NY                                                 | TSASC Inc/NY                                                            | CUSIP: 898526FF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $531655.02    | 0.09%             | 2041-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH AQUEDUCT & SWR AUTH REVENUE               | Puerto Rico Commonwealth Aqueduct & Sewer Authority                     | CUSIP: 745160UE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $609350.42    | 0.11%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY REVENUE                        | New York City Industrial Development Agency                             | CUSIP: 64971PHV0<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |    425000 | PA      | $167766.97    | 0.03%             | 2043-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP EXEMPT FAC REVENUE            | New York Transportation Development Corp                                | CUSIP: 650110AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $758558.01    | 0.13%             | 2041-10-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY REVENUE                        | New York City Industrial Development Agency                             | CUSIP: 64971PHZ1<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |    385000 | PA      | $119898.89    | 0.02%             | 2047-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REVENUE                           | Build NYC Resource Corp                                                 | CUSIP: 12008EWK8<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4692469.05   | 0.81%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH NY                                                | City of Long Beach NY                                                   | CUSIP: 542519EQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $321544.17    | 0.06%             | 2036-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                                   | Onondaga Civic Development Corp                                         | CUSIP: 682832JN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $361757.66    | 0.06%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | New York City Transitional Finance Authority                            | CUSIP: 64972JTG3<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1190000 | PA      | $1213207.38   | 0.21%             | 2050-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                                   | Onondaga Civic Development Corp                                         | CUSIP: 682832JK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $376376.72    | 0.06%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990GGF3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    475000 | PA      | $454043.48    | 0.08%             | 2036-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000B8S0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029530.00   | 0.18%             | 2047-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000BT73<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2410000 | PA      | $2466568.97   | 0.43%             | 2049-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST HSG FIN AGY                                      | New York State Housing Finance Agency                                   | CUSIP: 64987DS62<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $699085.50    | 0.12%             | 2054-11-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JRJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1189000 | PA      | $1116870.27   | 0.19%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY TOBACCO SETTLEMENT CORP                       | Nassau County Tobacco Settlement Corp                                   | CUSIP: 63166MCE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  15000000 | PA      | $854655.00    | 0.15%             | 2060-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990BQF3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   4340000 | PA      | $4340644.49   | 0.75%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990GGH9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1540000 | PA      | $1423808.39   | 0.25%             | 2038-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64985SDM2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1597655.70   | 0.28%             | 2040-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JPV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $239883.15    | 0.04%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000B5L8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2107634.80   | 0.36%             | 2035-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY SOL WST DISP REVENUE              | Build NYC Resource Corp                                                 | CUSIP: 12008HAC3<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |    240000 | PA      | $240119.88    | 0.04%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045NJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995198.30    | 0.17%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JERSEY NY                        | Port Authority of New York & New Jersey                                 | CUSIP: 73358XGN6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   4225000 | PA      | $4350881.76   | 0.75%             | 2052-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SCHENECTADY CNTY NY CAPITAL RESOURCE CORP REVENUE            | Schenectady County Capital Resource Corp                                | CUSIP: 806418BF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $759888.39    | 0.13%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY HLTHCARE CORP REVENUE                    | Westchester County Healthcare Corp/NY                                   | CUSIP: 957366DW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40088.95     | 0.01%             | 2037-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BROOKHAVEN NY LOCAL DEV CORP REVENUE                         | BROOKHAVEN NY LOCAL DEV CORP 11/45  4                                   | CUSIP: 113168BK3<br>LEI: 549300384JET720NAQ98 | Long             | DBT              | MUN               | US        |   1170000 | PA      | $1016758.78   | 0.18%             | 2045-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NIAGARA NY AREA DEV CORP SOLID WASTE DISP FAC REVENUE        | Niagara Area Development Corp                                           | CUSIP: 653542AC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1587623.10   | 0.27%             | 2042-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | New York State Dormitory Authority                                      | CUSIP: 64990KHB2<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3553782.75   | 0.61%             | 2054-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES      | Tender Option Bond Trust Receipts/Certificates                          | CUSIP: 64990F6V1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1871043.30   | 0.32%             | 2052-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP MF HSG REV                     | New York City Housing Development Corp                                  | CUSIP: 64972KGN9<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1464411.15   | 0.25%             | 2054-11-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000BRH3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1025020.88   | 0.18%             | 2042-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUFFOLK NY TOBACCO ASSET SECURITIZATION CORP TOBACCO SETTLEM | Suffolk Tobacco Asset Securitization Corp                               | CUSIP: 864809CD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7700000 | PA      | $685453.23    | 0.12%             | 2066-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | New York City Transitional Finance Authority                            | CUSIP: 64972JAY4<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5293501.50   | 0.91%             | 2047-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | New York Liberty Development Corp                                       | CUSIP: 649519DV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7355000 | PA      | $5024578.55   | 0.87%             | 2046-11-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| LONG BEACH NY                                                | City of Long Beach NY                                                   | CUSIP: 542519ES8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $515450.65    | 0.09%             | 2042-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116DW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2950000 | PA      | $2585947.58   | 0.45%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                                  | City of New York NY                                                     | CUSIP: 64966QC40<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2085000 | PA      | $2213915.76   | 0.38%             | 2044-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                                  | City of New York NY                                                     | CUSIP: 64966SHK5<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2595878.25   | 0.45%             | 2050-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116CY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016989.60   | 0.18%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    779000 | PA      | $555024.88    | 0.10%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116FS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1055000 | PA      | $1038994.60   | 0.18%             | 2042-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH SALES TAX REVENUE                      | New York State Dormitory Authority                                      | CUSIP: 64990AWY7<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4551730.65   | 0.79%             | 2054-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045GX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1921697.00   | 0.33%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | New York City Municipal Water Finance Authority                         | CUSIP: 64972GF41<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3100081.20   | 0.53%             | 2053-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990GZR6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   5500000 | PA      | $4434689.60   | 0.76%             | 2050-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY LOCAL ECON ASSISTANCE CORP REVENUE            | Nassau County Local Economic Assistance Corp                            | CUSIP: 63166LDF5<br>LEI: 549300FCI13UFG0Y6Y37 | Long             | DBT              | MUN               | US        |   2045000 | PA      | $2046988.97   | 0.35%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEMPSTEAD TOWN NY LOCAL DEV CORP REVENUE                     | Hempstead Town Local Development Corp                                   | CUSIP: 424682JA1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $556002.89    | 0.10%             | 2039-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                           | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3M7<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    146457 | PA      | $139681.17    | 0.02%             | 2037-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000BT81<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1512812.27   | 0.26%             | 2054-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | New York City Municipal Water Finance Authority                         | CUSIP: 64972GZW7<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.17%             | 2033-06-15      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JQD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    196000 | PA      | $167463.99    | 0.03%             | 2029-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JRR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $364622.39    | 0.06%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64985SJC8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    870000 | PA      | $915210.77    | 0.16%             | 2045-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116CW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1025000 | PA      | $1045704.90   | 0.18%             | 2036-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LONG BEACH NY                                                | City of Long Beach NY                                                   | CUSIP: 542519EP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $431698.72    | 0.07%             | 2035-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LONG BEACH NY                                                | City of Long Beach NY                                                   | CUSIP: 542519EN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $554327.93    | 0.10%             | 2034-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HUDSON YARDS INFRASTRUCTURE CORP NY 2ND INDENTURE REVENUE    | Hudson Yards Infrastructure Corp                                        | CUSIP: 44420RBE9<br>LEI: 549300EE2HJ67TPURL87 | Long             | DBT              | MUN               | US        |   3595000 | PA      | $3614675.79   | 0.62%             | 2042-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE               | New York City Transitional Finance Authority Future Tax Secured Revenue | CUSIP: 64971W5B2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4017068.40   | 0.69%             | 2043-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116AW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2315000 | PA      | $1930898.44   | 0.33%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | New York City Transitional Finance Authority                            | CUSIP: 64972JTH1<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065736.90   | 0.18%             | 2051-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | Metropolitan Transportation Authority                                   | CUSIP: 59260XCG1<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3060000 | PA      | $3177018.07   | 0.55%             | 2054-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TSASC INC NY                                                 | TSASC Inc/NY                                                            | CUSIP: 898526FC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008862.80   | 0.17%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUFFALO & ERIE CNTY NY INDL LAND DEV CORP REVENUE            | Buffalo & Erie County Industrial Land Development Corp                  | CUSIP: 11943KBQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.05%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | New York City Transitional Finance Authority                            | CUSIP: 64972JPT9<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1015879.40   | 0.18%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST URBAN DEV CORP SALES TAX REVENUE                 | New York State Urban Development Corp                                   | CUSIP: 64985TEL1<br>LEI: 54930039Y2EMGXN6LM88 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3105940.80   | 0.54%             | 2044-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | New York City Transitional Finance Authority                            | CUSIP: 64972JJD1<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   6205000 | PA      | $6438366.33   | 1.11%             | 2051-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                           | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3H8<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    206118 | PA      | $217508.35    | 0.04%             | 2029-07-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000BLQ9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2048213.50   | 0.35%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                           | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3T2<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    781880 | PA      | $481833.41    | 0.08%             | 2043-11-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY REVENUE                        | New York City Industrial Development Agency                             | CUSIP: 64971PKM6<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   2160000 | PA      | $1489502.52   | 0.26%             | 2049-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JQE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    708000 | PA      | $553365.79    | 0.10%             | 2031-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST ENVRNMNTL FACS CORP SOL WST DISP REVENUE         | New York State Environmental Facilities Corp                            | CUSIP: 649852AT7<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029345.50   | 0.18%             | 2050-09-01      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY REVENUE                        | New York City Industrial Development Agency                             | CUSIP: 64971PKK0<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |   2050000 | PA      | $1459725.26   | 0.25%             | 2049-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                                  | City of New York NY                                                     | CUSIP: 64966Q6R6<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2230000 | PA      | $1947828.73   | 0.34%             | 2053-08-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH SALES TAX REVENUE                      | New York State Dormitory Authority                                      | CUSIP: 64990AUD5<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3620000 | PA      | $3680112.27   | 0.63%             | 2049-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JERSEY NY                        | Port Authority of New York & New Jersey                                 | CUSIP: 73358WYK4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1895000 | PA      | $1898892.33   | 0.33%             | 2034-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TSASC INC NY                                                 | TSASC Inc/NY                                                            | CUSIP: 898526FD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $302001.75    | 0.05%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990BGU1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000193.00   | 0.17%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REVENUE                           | Build NYC Resource Corp                                                 | CUSIP: 12008EHF6<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1690000 | PA      | $1691235.73   | 0.29%             | 2040-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990BFN8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000308.40   | 0.17%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUFFALO & ERIE CNTY NY INDL LAND DEV CORP REVENUE            | Buffalo & Erie County Industrial Land Development Corp                  | CUSIP: 11943KCR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000755.00   | 0.17%             | 2037-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TSASC INC NY                                                 | TSASC Inc/NY                                                            | CUSIP: 898526FE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100448.82    | 0.02%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000BW38<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   5625000 | PA      | $5931411.19   | 1.02%             | 2054-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045HU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $200096.16    | 0.03%             | 2041-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | Westchester County Local Development Corp                               | CUSIP: 95737TEJ1<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    450000 | PA      | $450217.94    | 0.08%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX      | Triborough Bridge & Tunnel Authority                                    | CUSIP: 89602HHH3<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1550539.80   | 0.27%             | 2054-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LONG BEACH NY                                                | City of Long Beach NY                                                   | CUSIP: 542519ER0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    810000 | PA      | $862601.16    | 0.15%             | 2037-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GENESEE CNTY NY FUNDING CORP                                 | Genesee County Funding Corp/The                                         | CUSIP: 371669AW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $996562.80    | 0.17%             | 2052-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | New York City Transitional Finance Authority                            | CUSIP: 64972JQV3<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2198197.60   | 0.38%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ERIE CNTY NY TOBACCO ASSET SECURITIZATION CORP TOBACCO SETTL | Erie Tobacco Asset Securitization Corp                                  | CUSIP: 295095BE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $601591.20    | 0.10%             | 2055-06-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116GY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10335332.00  | 1.78%             | 2054-06-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY LOCAL ECON ASSISTANCE CORP REVENUE            | Nassau County Local Economic Assistance Corp                            | CUSIP: 63166LCS8<br>LEI: 549300FCI13UFG0Y6Y37 | Long             | DBT              | MUN               | US        |    625000 | PA      | $625617.88    | 0.11%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REVENUE                           | Build NYC Resource Corp                                                 | CUSIP: 12008ETJ5<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004927.30   | 0.17%             | 2042-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP MF MTGE REVENUE                | New York City Housing Development Corp                                  | CUSIP: 64966TGW8<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    500000 | PA      | $511658.20    | 0.09%             | 2031-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NASSAU CNTY NY LOCAL ECON ASSISTANCE CORP REVENUE            | Nassau County Local Economic Assistance Corp                            | CUSIP: 63166LCY5<br>LEI: 549300FCI13UFG0Y6Y37 | Long             | DBT              | MUN               | US        |    905000 | PA      | $905218.74    | 0.16%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REVENUE                           | Build NYC Resource Corp                                                 | CUSIP: 12008ETX4<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1231633.63   | 0.21%             | 2052-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST ENVRNMNTL FACS CORP SOL WST DISP REVENUE         | New York State Environmental Facilities Corp                            | CUSIP: 649852AR1<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1976855.80   | 0.34%             | 2044-12-01      | Floating      | 3.12%                 | No            |                  2 | On Loan: No      |
| TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES      | Tender Option Bond Trust Receipts/Certificates                          | CUSIP: 88035PCM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1966437.95   | 0.34%             | 2056-12-01      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | New York City Transitional Finance Authority                            | CUSIP: 64972JTT5<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1535000 | PA      | $1564935.57   | 0.27%             | 2050-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000B7Y8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3125740.50   | 0.54%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 65000BLP1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $847428.70    | 0.15%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | New York City Transitional Finance Authority                            | CUSIP: 64972JPR3<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3194841.30   | 0.55%             | 2049-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | New York City Municipal Water Finance Authority                         | CUSIP: 64972GK37<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   5715000 | PA      | $5949872.21   | 1.03%             | 2053-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                                   | Onondaga Civic Development Corp                                         | CUSIP: 682832JL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $476873.17    | 0.08%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY                                                  | City of New York NY                                                     | CUSIP: 64966SAZ9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2594268.00   | 0.45%             | 2049-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CNTY NY CIVIC FAC DEV CORP                         | Jefferson County Civic Facility Development Corp                        | CUSIP: 47325RAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2867973.90   | 0.49%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | Westchester County Local Development Corp                               | CUSIP: 95737TDV5<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |   1815000 | PA      | $1698529.27   | 0.29%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLINTON CNTY NY CAPITAL RESOURCES CORP LEASE REVENUE         | Clinton County Capital Resource Corp                                    | CUSIP: 187469AG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $962060.10    | 0.17%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HEMPSTEAD TOWN NY LOCAL DEV CORP REVENUE                     | Hempstead Town Local Development Corp                                   | CUSIP: 424682HY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $634365.40    | 0.11%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TSASC INC NY                                                 | TSASC Inc/NY                                                            | CUSIP: 898526FR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3300000 | PA      | $2880613.89   | 0.50%             | 2048-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROOKLYN ARENA NY LOCAL DEV CORP PILOT REVENUE               | Brooklyn Arena Local Development Corp                                   | CUSIP: 113807AR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $76952.40     | 0.01%             | 2047-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | Metropolitan Transportation Authority                                   | CUSIP: 59259N6S7<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2555000 | PA      | $2578819.24   | 0.44%             | 2042-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990GGE6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    525000 | PA      | $530896.12    | 0.09%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY INDL DEV AGY REVENUE                        | New York City Industrial Development Agency                             | CUSIP: 64971PHW8<br>LEI: 549300XR20ZR5DHL9534 | Long             | DBT              | MUN               | US        |    640000 | PA      | $238008.70    | 0.04%             | 2044-03-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY NY INDL DEV CORP REVENUE                         | Monroe County Industrial Development Corp/NY                            | CUSIP: 61075TWJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $587668.68    | 0.10%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | New York State Dormitory Authority                                      | CUSIP: 64990EZ34<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1102964.94   | 0.19%             | 2035-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045MK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3620000 | PA      | $3075027.46   | 0.53%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116DU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $309179.82    | 0.05%             | 2039-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                           | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3K1<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    189842 | PA      | $185359.41    | 0.03%             | 2033-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64985SJB0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    785000 | PA      | $829522.53    | 0.14%             | 2044-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BROOME CNTY NY LOCAL DEV CORP REVENUE                        | Broome County Local Development Corp                                    | CUSIP: 114731AN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $923871.58    | 0.16%             | 2036-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                                | Metropolitan Transportation Authority                                   | CUSIP: 59261AG43<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   4340000 | PA      | $4303596.51   | 0.74%             | 2050-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                                | Metropolitan Transportation Authority                                   | CUSIP: 59261A5G8<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2039999.80   | 0.35%             | 2055-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990GME9<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2895000 | PA      | $2356999.28   | 0.41%             | 2045-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP SALES TAX REVENUE            | Puerto Rico Sales Tax Financing Corp Sales Tax Revenue                  | CUSIP: 74529JQH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7476000 | PA      | $1747959.82   | 0.30%             | 2051-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116EX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1615043.16   | 0.28%             | 2042-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | New York City Transitional Finance Authority                            | CUSIP: 64972JPL6<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2084512.60   | 0.36%             | 2043-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND NY PWR AUTH ELEC SYS REVENUE                     | Long Island Power Authority                                             | CUSIP: 542691JY7<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5054889.00   | 0.87%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64985SGF4<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5185810.50   | 0.89%             | 2051-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BROOKLYN ARENA NY LOCAL DEV CORP PILOT REVENUE               | Brooklyn Arena Local Development Corp                                   | CUSIP: 113807BP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3085000 | PA      | $3072241.06   | 0.53%             | 2042-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990G3B6<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $695304.20    | 0.12%             | 2050-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REVENUE                           | Build NYC Resource Corp                                                 | CUSIP: 12008EMS2<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1136649.83   | 0.20%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK NY CITY TRANSITIONAL FIN AUTH REV                   | New York City Transitional Finance Authority                            | CUSIP: 64972JGW2<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1812149.33   | 0.31%             | 2053-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BROOKHAVEN NY LOCAL DEV CORP REVENUE                         | BROOKHAVEN N Y LOC 11/55  4                                             | CUSIP: 113168BL1<br>LEI: 549300384JET720NAQ98 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $799720.50    | 0.14%             | 2055-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH SALES TAX REVENUE                      | New York State Dormitory Authority                                      | CUSIP: 64990AUF0<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   2385000 | PA      | $2416759.85   | 0.42%             | 2051-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JERSEY NY                        | Port Authority of New York & New Jersey                                 | CUSIP: 73358XME9<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1293007.38   | 0.22%             | 2046-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045NK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969139.60    | 0.17%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | New York City Housing Development Corp                                  | CUSIP: 64972ELG2<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $905408.40    | 0.16%             | 2065-11-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| BROOKHAVEN NY LOCAL DEV CORP REVENUE                         | Brookhaven Local Development Corp                                       | CUSIP: 113168BE7<br>LEI: 549300384JET720NAQ98 | Long             | DBT              | MUN               | US        |    535000 | PA      | $448456.96    | 0.08%             | 2040-10-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                                   | Onondaga Civic Development Corp                                         | CUSIP: 682832KH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1014216.13   | 0.17%             | 2044-08-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | New York Liberty Development Corp                                       | CUSIP: 649519DD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1200776.28   | 0.21%             | 2044-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JERSEY NY                        | Port Authority of New York & New Jersey                                 | CUSIP: 73358XND0<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   2675000 | PA      | $2736209.08   | 0.47%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | New York City Municipal Water Finance Authority                         | CUSIP: 64972GF90<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2130734.13   | 0.37%             | 2048-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BUILD NYC RESOURCE CORP NY REVENUE                           | Build NYC Resource Corp                                                 | CUSIP: 12008QAF6<br>LEI: 549300GROJFKMNLWEK84 | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3172139.79   | 0.55%             | 2050-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST ENERGY RESEARCH & DEV AUTH POLL CONTROL REVENUE  | New York State Energy Research & Development Authority                  | CUSIP: 649845HY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2030000 | PA      | $2033624.77   | 0.35%             | 2034-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH AQUEDUCT & SWR AUTH REVENUE               | Puerto Rico Commonwealth Aqueduct & Sewer Authority                     | CUSIP: 745160SG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $519911.90    | 0.09%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045GU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1765000 | PA      | $1782424.08   | 0.31%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WESTCHESTER CNTY NY HLTHCARE CORP REVENUE                    | Westchester County Healthcare Corp/NY                                   | CUSIP: 957366DV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     95000 | PA      | $95151.25     | 0.02%             | 2030-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST CONVENTION CENTER DEV CORP REVENUE               | New York Convention Center Development Corp                             | CUSIP: 649451DM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6585000 | PA      | $6589211.11   | 1.14%             | 2040-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES      | Tender Option Bond Trust Receipts/Certificates                          | CUSIP: 88035PNW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2817301.03   | 0.49%             | 2053-05-01      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| CHAUTAUQUA CNTY NY CAPITAL RESOURCE CORP EXEMPT FACS REVENUE | Chautauqua County Capital Resource Corp                                 | CUSIP: 16254PAB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007607.50   | 0.17%             | 2042-04-01      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | Metropolitan Transportation Authority Dedicated Tax Fund                | CUSIP: 59260XCS5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022171.70   | 0.18%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ONONDAGA NY CIVIC DEV CORP                                   | Onondaga Civic Development Corp                                         | CUSIP: 682832FQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $266718.81    | 0.05%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116GP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1542449.55   | 0.27%             | 2040-04-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                                | Metropolitan Transportation Authority                                   | CUSIP: 59261AG35<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3255000 | PA      | $3176615.69   | 0.55%             | 2045-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116EZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3218964.35   | 0.56%             | 2031-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST ENVRNMNTL FACS CORP SOL WST DISP REVENUE         | New York State Environmental Facilities Corp                            | CUSIP: 649852AQ3<br>LEI: 549300QJ33JJW73OQO60 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1407542.40   | 0.24%             | 2044-12-01      | Floating      | 2.88%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116GN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1632551.25   | 0.28%             | 2035-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY DEDICATED TAX FUND                     | Metropolitan Transportation Authority Dedicated Tax Fund                | CUSIP: 59260XCU0<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020331.30   | 0.18%             | 2051-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BROOME CNTY NY LOCAL DEV CORP REVENUE                        | Broome County Local Development Corp                                    | CUSIP: 114731AP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1310777.70   | 0.23%             | 2037-04-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST LIBERTY DEV CORP LIBERTY REVENUE                 | New York Liberty Development Corp                                       | CUSIP: 649519DA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8655000 | PA      | $8473689.00   | 1.46%             | 2044-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE         | New York State Dormitory Authority                                      | CUSIP: 64990FWR1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5246.64      | 0.00%             | 2041-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                                | Metropolitan Transportation Authority                                   | CUSIP: 59261ACS4<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1236724.00   | 0.21%             | 2046-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116DV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1283271.03   | 0.22%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL AUTH PAYROLL MOBILITY TAX      | Triborough Bridge & Tunnel Authority                                    | CUSIP: 89602HEY9<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1405461.50   | 0.24%             | 2032-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                           | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    256309 | PA      | $177506.52    | 0.03%             | 2033-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE               | New York Transportation Development Corp                                | CUSIP: 650116EY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $103367.75    | 0.02%             | 2026-08-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | New York State Dormitory Authority                                      | CUSIP: 64990BQG1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1750183.75   | 0.30%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                                | Metropolitan Transportation Authority                                   | CUSIP: 59261AH59<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1493153.03   | 0.26%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND NY PWR AUTH ELEC SYS REVENUE                     | Long Island Power Authority                                             | CUSIP: 542691HN3<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2017660.20   | 0.35%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY REVENUE                                | Metropolitan Transportation Authority                                   | CUSIP: 59261AE29<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   3200000 | PA      | $2667788.16   | 0.46%             | 2051-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PUERTO RICO CMWLTH                                           | Commonwealth of Puerto Rico                                             | CUSIP: 74514L3L9<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |    170642 | PA      | $164454.91    | 0.03%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DUTCHESS CNTY NY LOCAL DEV CORP REVENUE                      | Dutchess County Local Development Corp                                  | CUSIP: 267045PZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $392170.66    | 0.07%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-30

**Name of Applicant:** LORD ABBETT MUNICIPAL INCOME FUND INC

**Signature:** Michael Hebert

**Name of Signer:** Michael Hebert

**Title:** Chief Financial Officer