# EDGAR Filing Document

**Accession Number:** 0001020660
**File Stem:** 0001193125-25-307632
**Filing Date:** 2025-12
**Character Count:** 2100721
**Document Hash:** 3fc00f13406dc4fa3e3e1085a459f7f5
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-307632.hdr.sgml**: 20251204

**ACCESSION NUMBER**: 0001193125-25-307632

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 42

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251204

**DATE AS OF CHANGE**: 20251204

**EFFECTIVENESS DATE**: 20251204

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NUVEEN MUNICIPAL TRUST/MA
- **CENTRAL INDEX KEY:** 0001020660

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07873
- **FILM NUMBER:** 251548539

**BUSINESS ADDRESS:**
- **STREET 1:** NUVEEN INVESTMENTS
- **STREET 2:** 333 W WACKER DRIVE 33RD FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3129178146

**MAIL ADDRESS:**
- **STREET 1:** NUVEEN INVESTMENTS
- **STREET 2:** 333 W WACKER DR 33RD FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NUVEEN FLAGSHIP MUNICIPAL TRUST
- **DATE OF NAME CHANGE:** 19960910

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NUVEEN FLAGSHIP TAX EXEMPT TRUST
- **DATE OF NAME CHANGE:** 19960807

## Series and Classes Contracts Data

### Nuveen Intermediate Duration Municipal Bond Fund (Series ID: S000000285)

| Class ID   | Class Name                                                 | Ticker Symbol   |
|:---|:---|:---|
| C000000699 | Nuveen Intermediate Duration Municipal Bond Fund - Class A | NMBAX           |
| C000001504 | Nuveen Intermediate Duration Municipal Bond Fund - Class I | NUVBX           |
| C000137699 | Class C                                                    | NNCCX           |

### Nuveen All-American Municipal Bond Fund (Series ID: S000000286)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000000700 | Nuveen All-American Municipal Bond Fund - Class A | FLAAX           |
| C000001507 | Nuveen All-American Municipal Bond Fund - Class I | FAARX           |
| C000137700 | Class C                                           | FACCX           |
| C000171394 | Class R6                                          | FAAWX           |

### Nuveen Limited Term Municipal Bond Fund (Series ID: S000000288)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000000702 | Nuveen Limited Term Municipal Bond Fund - Class A | FLTDX           |
| C000001512 | Nuveen Limited Term Municipal Bond Fund - Class I | FLTRX           |
| C000137701 | Class C                                           | FAFJX           |

### Nuveen High Yield Municipal Bond Fund (Series ID: S000000289)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000000703 | Nuveen High Yield Municipal Bond Fund - Class A | NHMAX           |
| C000001515 | Nuveen High Yield Municipal Bond Fund - Class I | NHMRX           |
| C000137702 | Class C                                         | NHCCX           |
| C000171395 | Class R6                                        | NHMFX           |

### Nuveen Short Duration High Yield Municipal Bond Fund (Series ID: S000039680)

| Class ID   | Class Name                                                     | Ticker Symbol   |
|:---|:---|:---|
| C000122984 | Class A                                                        | NVHAX           |
| C000122986 | Class I                                                        | NVHIX           |
| C000137704 | Nuveen Short Duration High Yield Municipal Bond Fund - Class C | NVCCX           |

### Nuveen Strategic Municipal Opportunities Fund (Series ID: S000047609)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000149455 | Class A      | NSAOX           |
| C000149456 | Class C      | NSCOX           |
| C000149457 | Class I      | NSIOX           |

?xml version='1.0' encoding='ASCII'? Nuveen Municipal Trust

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

### FORM N-CSR

### CERTIFIED SHAREHOLDER REPORT OF REGISTERED

### MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number <u>811-07873</u> 

Nuveen Municipal Trust

(Exact name of registrant as specified in charter)

Nuveen Investments

333 West Wacker Drive

Chicago, Illinois 60606

(Address of principal executive offices) (Zip code)

Mark J. Czarniecki

Vice President and Secretary

901 Marquette Avenue

Minneapolis, Minnesota 55402

(Name and address of agent for service)

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

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

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

------

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

------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen All-American Municipal Bond Fund

Class A Shares/FLAAX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of**<br>**$10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class A Shares | $40 | 0.80% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $3724231385 |
|  Total number of portfolio holdings | 946 |
|  Portfolio turnover (%) | 28% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g01a01.jpg)

![LOGO](g84070g1g02h02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q889_SAR_0925<br> 4875782 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen All-American Municipal Bond Fund

Class C Shares/FACCX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class C Shares | $81 | 1.60% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $3724231385 |
|  Total number of portfolio holdings | 946 |
|  Portfolio turnover (%) | 28% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g01a01.jpg)

![LOGO](g84070g1g02h02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q665_SAR_0925<br> 4875782 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen All-American Municipal Bond Fund

Class R6 Shares/FAAWX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class R6 Shares of the Nuveen All-American Municipal Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information at

https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787.

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class R6 Shares | $29 | 0.57% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $3724231385 |
|  Total number of portfolio holdings | 946 |
|  Portfolio turnover (%) | 28% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g01a01.jpg)

![LOGO](g84070g1g02h02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q566_SAR_0925<br> 4875782 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen All-American Municipal Bond Fund

Class I Shares/FAARX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of**<br> **$10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class I Shares | $30 | 0.60% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $3724231385 |
|  Total number of portfolio holdings | 946 |
|  Portfolio turnover (%) | 28% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g01a01.jpg)

![LOGO](g84070g1g02h02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q855_SAR_0925<br> 4875782 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Intermediate Duration Municipal Bond Fund

Class A Shares/NMBAX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class A Shares | $32 | 0.64% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $8240434762 |
|  Total number of portfolio holdings | 1768 |
|  Portfolio turnover (%) | 14% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g00n11.jpg)

![LOGO](g84070g1g00n12.jpg)

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q202_SAR_0925<br> 4875784 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Intermediate Duration Municipal Bond Fund

Class C Shares/NNCCX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class C Shares | $73 | 1.44% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $8240434762 |
|  Total number of portfolio holdings | 1768 |
|  Portfolio turnover (%) | 14% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g00n11.jpg)

![LOGO](g84070g1g00n12.jpg)

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q640_SAR_0925<br> 4875784 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Intermediate Duration Municipal Bond Fund

Class I Shares/NUVBX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class I Shares of the Nuveen Intermediate Duration Municipal Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information at

https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787.

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class I Shares | $22 | 0.44% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $8240434762 |
|  Total number of portfolio holdings | 1768 |
|  Portfolio turnover (%) | 14% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g00n11.jpg)

![LOGO](g84070g1g00n12.jpg)

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q400_SAR_0925<br> 4875784 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Limited Term Municipal Bond Fund

Class A Shares/FLTDX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class A Shares of the Nuveen Limited Term Municipal Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information at

https://www.nuveen.com/en-us/mutual-funds/prospectuses. You can also request this information by contacting us at (800) 257-8787.

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

---

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

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $4731717537 |
|  Total number of portfolio holdings | 1028 |
|  Portfolio turnover (%) | 17% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g80y00.jpg)

![LOGO](g84070g1g90j00.jpg)

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

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q848_SAR_0925<br> 4875785 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Limited Term Municipal Bond Fund

Class C Shares/FAFJX

Semi-Annual Shareholder Report

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

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

---

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

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $4731717537 |
|  Total number of portfolio holdings | 1028 |
|  Portfolio turnover (%) | 17% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g80y00.jpg)

![LOGO](g84070g1g90j00.jpg)

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q632_SAR_0925<br> 4875785 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Limited Term Municipal Bond Fund

Class I Shares/FLTRX

Semi-Annual Shareholder Report

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

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

---

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

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $4731717537 |
|  Total number of portfolio holdings | 1028 |
|  Portfolio turnover (%) | 17% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g80y00.jpg)

![LOGO](g84070g1g90j00.jpg)

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q822_SAR_0925<br> 4875785 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen High Yield Municipal Bond Fund

Class A Shares/NHMAX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class A Shares | $99 | 1.96% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $13137388609 |
|  Total number of portfolio holdings | 2832 |
|  Portfolio turnover (%) | 10% |

---

1 continued>>

------

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

![LOGO](g84070g1g21a01.jpg)

![LOGO](g84070g1g21a02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

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

---

| | |
|:---|:---|
| 67065Q749_SAR_0925<br> 4875778 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br>Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen High Yield Municipal Bond Fund

Class C Shares/NHCCX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br>$10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class C Shares | $139 | 2.76% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp; Fund net assets | $| 13137388609 |
| &nbsp;&nbsp;&nbsp; Total number of portfolio holdings |  | 2832 |
| &nbsp;&nbsp;&nbsp; Portfolio turnover (%) |  | 10% |

---

1 continued>>

------

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

![LOGO](g84070g1g23a01.jpg)

![LOGO](g84070g1g23a02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

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

---

| | |
|:---|:---|
| 67065Q624_SAR_0925<br> 4875778 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen High Yield Municipal Bond Fund

Class R6 Shares/NHMFX

Semi-Annual Shareholder Report

This semi-annual shareholder report contains important information about the Class R6 Shares of the Nuveen High Yield Municipal Bond Fund for the period of April 1, 2025 to September 30, 2025. You can find additional information at https://www.nuveen.com/en-us/mutual-funds/prospectuses**.** You can also request this information by contacting us at (800) 257-8787.

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class R6 Shares | $87 | 1.72% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $13137388609 |
|  Total number of portfolio holdings | 2832 |
|  Portfolio turnover (%) | 10% |

---

1 continued>>

------

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

![LOGO](g84070g1g25a01.jpg)

![LOGO](g84070g1g25a02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q558_SAR_0925<br> 4875778 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen High Yield Municipal Bond Fund

Class I Shares/NHMRX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class I Shares | $89 | 1.76% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $13137388609 |
|  Total number of portfolio holdings | 2832 |
|  Portfolio turnover (%) | 10% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g27a01.jpg)

![LOGO](g84070g1g27a02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q772_SAR_0925<br> 4875778 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Short Duration High Yield Municipal Bond Fund

Class A Shares/NVHAX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class A Shares | $44 | 0.88% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $5995702779 |
|  Total number of portfolio holdings | 2641 |
|  Portfolio turnover (%) | 17% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g29a01.jpg)

![LOGO](g84070g1g29a02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q673_SAR_0925<br> 4875780 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Short Duration High Yield Municipal Bond Fund

Class C Shares/NVCCX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class C Shares | $84 | 1.68% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $5995702779 |
|  Total number of portfolio holdings | 2641 |
|  Portfolio turnover (%) | 17% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g31a01.jpg)

![LOGO](g84070g1g31a02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q616_SAR_0925<br> 4875780 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Short Duration High Yield Municipal Bond Fund

Class I Shares/NVHIX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class I Shares | $34 | 0.68% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $5995702779 |
|  Total number of portfolio holdings | 2641 |
|  Portfolio turnover (%) | 17% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g33a01.jpg)

![LOGO](g84070g1g33a02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q699_SAR_0925<br> 4875780 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Strategic Municipal Opportunities Fund

Class A Shares/NSAOX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class A Shares | $43 | 0.86% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $1097172424 |
|  Total number of portfolio holdings | 727 |
|  Portfolio turnover (%) | 30% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g35a01.jpg)

![LOGO](g84070g1g35a02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q590_SAR_0925<br> 4875781 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Strategic Municipal Opportunities Fund

Class C Shares/NSCOX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class C Shares | $84 | 1.66% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $1097172424 |
|  Total number of portfolio holdings | 727 |
|  Portfolio turnover (%) | 30% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g37a01.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g37a02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q582_SAR_0925<br> 4875781 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<br> ![LOGO](g84070g1g19w55.jpg) | <br> Semi-Annual Shareholder Report <br>September 30, 2025  |

---

Nuveen Strategic Municipal Opportunities Fund

Class I Shares/NSIOX

Semi-Annual Shareholder Report

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

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

---

| | | |
|:---|:---|:---|
|  | **Cost of a** <br> **$10,000 investment**  | **Costs paid as a percentage of<br> $10,000 investment\*** |
| &nbsp;&nbsp;&nbsp; Class I Shares | $33 | 0.66% |

---

\* Annualized for period less than one year.

Fund Statistics (as of September 30, 2025)

---

| | |
|:---|:---|
|  Fund net assets | $1097172424 |
|  Total number of portfolio holdings | 727 |
|  Portfolio turnover (%) | 30% |

---

1 continued>>

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g39a01.jpg)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ![LOGO](g84070g1g39a02.jpg)

(1) Total investments include the Fund's assets attributable to financial leverage. For these purposes, financial leverage includes the Fund's investments in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively financed by the trust's issuance of floating rate securities.

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

Availability of additional information about the Fund

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

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

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

---

| | |
|:---|:---|
| 67065Q574_SAR_0925<br> 4875781 | ![LOGO](g84070g1g85u20.jpg) |

---

2.0 ------

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

Not applicable to this filing.

------

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

Not applicable to this filing.

------

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

Not applicable to this filing.

------

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

Not applicable to this registrant.

------

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

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

(b) Not applicable.

------

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

------

#### Portfolio of Investments September 30, 2025

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

(Unaudited)

SHARES

DESCRIPTION

VALUE

LONG-TERM INVESTMENTS - 101.8%

17,451,000

EXCHANGE-TRADED FUNDS - 0.5%

17,451,000

700,000

(a),(b)

Nuveen Municipal Income ETF

$

17,451,000

TOTAL EXCHANGE-TRADED FUNDS

(Cost $17,677,750)

17,451,000

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

3774212377

MUNICIPAL BONDS - 101.3%

3774212377

ALABAMA - 3.5%

$

1,400,000

Alabama State University, General Tuition and Fee Revenue

Bonds, Series 2025

.500

%

09/01/45

1,503,920

1,540,000

Alabama State University, General Tuition and Fee Revenue

Bonds, Series 2025

.750

09/01/50

1,660,993

1,790,000

(c) Baldwin County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, Novelis Corporation

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

.625

06/01/55

1,795,368

3,500,000

Birmingham-Jefferson Civic Center Authority, Alabama, Special

Tax Bonds, Series 2018A

.000

07/01/38

3,491,475

3,500,000

Birmingham-Jefferson Civic Center Authority, Alabama, Special

Tax Bonds, Series 2018A

.000

07/01/43

3,256,783

15,000,000

Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

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

.500

11/01/53

16,002,756

10,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

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

.250

01/01/54

10,747,151

24,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

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

.250

05/01/56

24,977,726

2,000,000

Hoover Industrial Development Board, Alabama,

Environmental Improvement Revenue Bonds, United States

Steel Corporation Proejcet, Series 2019, (AMT)

.750

10/01/49

2,021,399

4,220,000

Infirmary Health System Special Care Facilities Financing

Authority of Mobile, Alabama, Revenue Bonds, Infirmary Health

System, Inc., Series 2016A

.000

02/01/41

4,228,042

2,075,000

Jefferson County, Alabama, Sewer Revenue Warrants, Series

2024

.500

10/01/53

2,174,353

9,400,000

Mobile County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC

Project, Series 2024A, (AMT)

.000

06/01/54

9,053,031

6,800,000

Mobile County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC

Project, Series 2024B, (AMT)

.750

12/01/54

6,294,767

475,000

Mobile Spring Hill College Educational Building Authority,

Alabama, Revenue Bonds, Spring Hill College Project, Series

2015

.875

04/15/45

333,574

15,000,000

Southeast Energy Authority, Alabama, A Cooperative District

Energy Supply Revenue Bonds Series 2024A

.000

11/01/35

15,823,149

20,000,000

Southeast Energy Authority, Alabama, Commodity Supply

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

8/01/28)

.000

05/01/53

20,992,140

5,810,000

UAB Medicine Finance Authority, Alabama, Revenue Bonds,

Series 2019B

.000

09/01/48

5,316,954

TOTAL ALABAMA

129,673,581

ARIZONA - 2.2%

1,220,000

(c) Arizona Industrial Development Authority, Arizona, Economic

Development Revenue Bonds, Linder Village Project in

Meridian, Ada County, Idaho, Series 2020

.000

06/01/31

1,238,400

2,000,000

(c) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Heritage Academy - Gateway and Laveen

Pojects, Series 2021B

.000

07/01/51

1,705,503

19,000,000

(c) Arizona Industrial Development Authority, Arizona, Hotel

Revenue Bonds, Provident Group Falcon Properties LLC,

Project, Senior Series 2022A-1

.000

12/01/51

12,620,666

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

1,575,000

Arizona Industrial Development Authority, Senior National

Charter School Revolving Loan Fund Revenue Bonds, Social

Series 2023A

.250

%

11/01/53

$

1,599,779

2,660,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

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

.100

12/01/37

2,677,128

8,515,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

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

.000

06/01/49

8,695,826

9,530,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

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

.000

09/01/52

9,693,274

1,000,000

Maricopa County Industrial Development Authority, Arizona,

Hospital Revenue Bonds, HonorHealth, Series 2019A

.000

09/01/35

1,041,487

2,235,000

Maricopa County Industrial Development Authority, Arizona,

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

Put 5/15/28)

.000

01/01/53

2,344,378

6,380,000

Phoenix Civic Improvement Corporation, Arizona, Rental Car

Facility Charge Revenue Bonds, Series 2019A

.000

07/01/35

6,763,068

6,000,000

Phoenix Civic Improvement Corporation, Arizona, Revenue

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

Insured

.500

07/01/39

7,185,436

3,500,000

(c) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, American Leadership

Academy Project, Refunding Series 2022. Forward Delivery

.000

06/15/41

3,002,856

1,000,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.250

12/01/28

1,054,889

13,155,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.000

12/01/32

14,372,656

7,000,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.000

12/01/37

7,519,965

TOTAL ARIZONA

81,515,311

ARKANSAS - 0.6%

5,045,000

(c) Arkansas Development Finance Authority, Arkansas,

Environmental Improvement Revenue Bonds, United States

Steel Corporation, Green Series 2022, (AMT)

.450

09/01/52

5,043,911

7,370,000

(c) Arkansas Development Finance Authority, Industrial

Development Revenue Bonds, Big River Steel Project, Series

2019, (AMT)

.500

09/01/49

7,070,754

5,000,000

(c) Arkansas Development Finance Authority, Industrial

Development Revenue Bonds, Big River Steel Project, Series

2020A, (AMT)

.750

09/01/49

4,835,569

5,545,000

Arkansas Development Finance Authority, Revenue Bonds,

Baptist Memorial Health Care, Refunding Series 2020B-1

.000

09/01/40

5,602,808

TOTAL ARKANSAS

22,553,042

CALIFORNIA - 15.9%

360,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/42

398,413

345,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/43

377,761

410,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/44

445,691

955,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/45

1,033,740

5,270,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/50

5,615,054

950,000

Anaheim Housing and Public Improvements Authority,

California, Revenue Bonds, Electric Utility Distribution System

Refunding Series 2025B

.000

10/01/40

1,007,296

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

2,000,000

Anaheim Housing and Public Improvements Authority,

California, Revenue Bonds, Electric Utility Distribution System

Refunding Series 2025B

.000

%

10/01/42

$

2,096,500

2,080,000

Anaheim Housing and Public Improvements Authority,

California, Revenue Bonds, Electric Utility Distribution System

Refunding Series 2025B

.000

10/01/43

2,171,932

1,065,000

Anaheim Housing and Public Improvements Authority,

California, Revenue Bonds, Electric Utility Distribution System

Refunding Series 2025B

.000

10/01/44

1,107,484

4,900,000

Atascadero Unified School District, California, General

Obligation Bonds, 2024 Election, Series 2025A

.000

08/01/50

5,152,588

10,050,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023D,

(Mandatory Put 11/01/28)

.500

05/01/54

10,734,326

21,445,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023E,

(Mandatory Put 9/01/32)

.000

02/01/55

23,423,042

22,580,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023G,

(Mandatory Put 4/01/30)

.250

11/01/54

24,494,581

5,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024B,

(Mandatory Put 12/01/32)

.000

01/01/55

5,297,814

10,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024D,

(Mandatory Put 9/01/32)

.000

02/01/55

10,985,662

9,275,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024G,

(Mandatory Put 8/01/32)

.000

11/01/55

9,825,297

19,500,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025D,

(Mandatory Put 7/01/34)

.000

10/01/55

20,986,637

2,630,000

(c) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Creekwood, Series 2021A

.000

02/01/56

1,732,473

25,260,000

(c) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Serenity at Larkspur Apartments,

Series 2020A

.000

02/01/50

16,414,979

5,000,000

California Health Facilities Financing Authority, California,

Revenue Bonds, Sutter Health, Refunding Series 2016B

.000

11/15/46

5,026,619

9,810,000

California Health Facilities Financing Authority, Revenue Bonds,

Adventist Health System/West, Series 2025A

.000

12/01/32

10,740,620

1,335,000

California Health Facilities Financing Authority, Revenue Bonds,

Adventist Health System/West, Series 2025A

.000

12/01/35

1,471,392

1,670,000

California Health Facilities Financing Authority, Revenue Bonds,

Children's Hospital Los Angeles, Series 2017A

.000

08/15/42

1,670,264

485,000

California Health Facilities Financing Authority, Revenue Bonds,

Providence Health & Services, Series 2014B

.000

10/01/44

485,122

2,120,000

California Infrastructure and Economic Development Bank,

Lease Revenue Bonds, California State Teachers Retirement

System Headquarters Expansion, Green Bond-Climate Bond

Certified Series 2019

.000

08/01/44

2,192,716

6,005,000

(c) California Infrastructure and Economic Development Bank,

Revenue Bonds, Brightline West Passenger Rail Project, Green

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

.500

01/01/65

5,500,233

2,200,000

(c) California Municipal Finance Authority, Charter School Lease

Revenue Bonds, Nova Academy Project, Series 2016A

.000

06/15/36

2,149,488

1,000,000

California Municipal Finance Authority, Revenue Bonds, Biola

University, Refunding Series 2017

.000

10/01/31

1,032,425

14,185,000

California Municipal Finance Authority, Revenue Bonds,

Eisenhower Medical Center, Refunding Series 2017A

.000

07/01/42

14,191,494

1,000,000

California Municipal Finance Authority, Revenue Bonds,

Eisenhower Medical Center, Refunding Series 2017A

.000

07/01/47

996,223

14,000,000

California Municipal Finance Authority, Revenue Bonds, Linxs

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

.000

12/31/37

14,187,271

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

27,110,000

California Municipal Finance Authority, Revenue Bonds, Linxs

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

.000

%

12/31/38

$

27,437,082

1,000,000

California Municipal Finance Authority, Revenue Bonds,

NorthBay Healthcare Group, Series 2017A

.000

11/01/30

1,012,535

1,040,000

California Municipal Finance Authority, Revenue Bonds,

NorthBay Healthcare Group, Series 2017A

.250

11/01/31

1,054,480

10,625,000

California Municipal Finance Authority, Reveue Bonds,

Community Medical Centers, Series 2017A

.000

02/01/42

10,674,950

8,835,000

(c) California Pollution Control Financing Authority, Water

Furnishing Revenue Bonds, Poseidon Resources Channelside

LP Desalination Project, Series 2012, (AMT)

.000

07/01/30

8,866,232

14,225,000

(c) California Pollution Control Financing Authority, Water

Furnishing Revenue Bonds, Poseidon Resources Channelside

LP Desalination Project, Series 2012, (AMT)

.000

07/01/37

14,239,036

1,450,000

California Public Finance Authority, Revenue Bonds, Henry

Mayo Newhall Hospital, Series 2017

.000

10/15/37

1,461,128

415,000

(c) California Public Finance Authority, Senior Living Revenue

Bonds, Enso Village, Refunding Green Series 2021A

.000

11/15/46

374,331

810,000

(c) California Public Finance Authority, Senior Living Revenue

Bonds, Enso Village, Refunding Green Series 2021A

.000

11/15/51

711,291

10,335,000

California Public Finance Authority, Senior Living Revenue

Bonds, The James, Senior Series 2024A

.500

06/01/54

9,945,232

3,355,000

California Public Finance Authority, Senior Living Revenue

Bonds, The James, Senior Series 2024A

.375

06/01/59

3,128,109

1,000,000

(c) California School Finance Authority, Charter School Revenue

Bonds, Alliance for College-Ready Public Schools Projects

Series 2024

.000

07/01/49

1,010,616

2,000,000

(c) California School Finance Authority, Charter School Revenue

Bonds, Alliance for College-Ready Public Schools Projects

Series 2024

.000

07/01/59

1,998,785

525,000

(c) California School Finance Authority, School Facility Revenue

Bonds, Granada Hills Charter High School Obligated Group,

Series 2024A

.000

07/01/54

511,441

1,000,000

(c) California School Finance Authority, School Facility Revenue

Bonds, Granada Hills Charter High School Obligated Group,

Series 2024A

.000

07/01/64

954,992

3,195,000

California State, General Obligation Bonds, Various Purpose

Refunding Series 2025

.000

08/01/45

3,448,583

12,000,000

California State, General Obligation Bonds, Various Purpose

Series 2015

.000

08/01/45

12,010,201

2,725,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/39

3,080,069

4,490,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/41

4,978,227

4,490,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/42

4,936,938

4,105,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/43

4,486,176

4,165,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/44

4,507,870

2,500,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/45

2,698,422

5,000,000

California Statewide Communities Development Authority,

Student Housing Revenue Bonds, University of California, Irvine

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

2017

.000

05/15/47

5,020,716

1,750,000

California Statewide Communities Development Authority,

Student Housing Revenue Bonds, University of California, Irvine

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

2017

.000

05/15/50

1,757,761

3,800,000

(c) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Center City Anaheim, Series

2020A

.000

01/01/54

3,415,896

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

1,460,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

%

12/01/41

$

1,610,206

2,500,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/42

2,729,358

1,500,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/43

1,626,104

2,800,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/44

3,017,480

3,800,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/45

4,077,149

23,265,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Subordinate Lien

Series 2018C, (AMT)

.000

05/15/44

23,398,846

1,000,000

Manteca Financing Authority, California, Sewer Revenue

Bonds, Series 2009

.750

12/01/36

1,004,132

735,000

Mount San Antonio Community College District, Los Angeles

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

Series 2025A

.000

08/01/42

811,996

800,000

Mount San Antonio Community College District, Los Angeles

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

Series 2025A

.000

08/01/43

876,361

800,000

Mount San Antonio Community College District, Los Angeles

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

Series 2025A

.000

08/01/44

870,629

1,200,000

Mount San Antonio Community College District, Los Angeles

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

Series 2025A

.000

08/01/45

1,301,357

400,000

Mount San Antonio Community College District, Los Angeles

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

Series 2025A

.000

08/01/46

431,665

2,800,000

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

Citigroup Prepay Contracts, Series 2009A

.000

11/01/34

3,399,870

2,500,000

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

Citigroup Prepay Contracts, Series 2009A

.500

11/01/39

3,066,196

4,460,000

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

Citigroup Prepay Contracts, Series 2009B

.000

11/01/34

5,415,507

2,230,000

Oakland Unified School District, Alameda County, California,

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

Insured

.250

08/01/39

2,507,383

5,000,000

Peralta Community College District, Alameda County,

California, General Obligation, Election of 2018 , Series

2025C-1

.000

08/01/50

5,302,948

21,280,000

Peralta Community College District, Alameda County,

California, General Obligation, Election of 2018 , Series

2025C-1

.000

08/01/54

22,492,709

5,500,000

Poway Unified School District, San Diego County, California,

General Obligation Bonds, School Facilities Improvement

District 2007-1, Series 2011A

.000

08/01/41

2,860,597

400,000

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

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/39

225,292

750,000

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

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/40

397,584

1,000,000

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

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/43

438,737

1,000,000

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

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/44

413,230

1,250,000

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

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/45

487,576

3,400,000

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

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/48

1,111,287

3,275,000

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

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/50

955,849

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

15,000,000

Rialto Unified School District, San Bernardino County,

California, General Obligation Bonds, 2010 Election Series

2011A - AGM Insured

.350

%

08/01/41

$

18,439,599

2,665,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area

1, Refunding Series 2022A-1 - AGM Insured

.000

09/01/42

2,836,467

3,545,000

Sacramento County, California, Airport System Revenue Bonds,

Refunding Senior Series 2018C, (AMT)

.000

07/01/37

3,637,491

8,960,000

Sacramento County, California, Airport System Revenue Bonds,

Refunding Senior Series 2018C, (AMT)

.000

07/01/38

9,161,499

635,000

Sacramento, California, Special Tax Bonds, Community

Facilities District 05-1 College Square, Series 2007

.900

09/01/37

640,398

8,000,000

San Diego County Regional Airport Authority, California,

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

.000

07/01/42

8,032,923

3,020,000

San Diego County Regional Airport Authority, California,

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

.000

07/01/47

3,020,360

1,200,000

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

Lease Revenue Bonds, Capital Improvement Projects,

Refunding Series 2025A

.000

10/15/40

1,347,942

3,875,000

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

Lease Revenue Bonds, Capital Improvement Projects,

Refunding Series 2025A

.000

10/15/42

4,256,906

7,500,000

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

Lease Revenue Bonds, Capital Improvement Projects,

Refunding Series 2025A

.000

10/15/43

8,181,835

3,000,000

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

Lease Revenue Bonds, Capital Improvement Projects,

Refunding Series 2025A

.000

10/15/44

3,245,872

3,155,000

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

Lease Revenue Bonds, Capital Improvement Projects,

Refunding Series 2025A

.000

10/15/45

3,396,033

11,715,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2016B,

(AMT)

.000

05/01/46

11,715,370

5,050,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2017A,

(AMT)

.000

05/01/42

5,077,419

3,000,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2018D,

(AMT)

.000

05/01/48

3,016,153

5,000,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2016B,

(AMT)

.000

05/01/41

5,010,281

4,260,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/40

4,799,372

2,885,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/41

3,216,435

5,920,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/42

6,545,292

9,180,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/43

10,064,134

2,125,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/44

2,312,609

2,620,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/45

2,839,075

4,500,000

San Francisco City and County, California, Multifamily Housing

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

.000

02/01/46

4,634,602

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

4,735,000

San Francisco City and County, California, Multifamily Housing

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

(Mandatory Put 8/01/28)

.350

%

08/01/29

$

4,803,925

4,245,000

San Joaquin Hills Transportation Corridor Agency, Orange

County, California, Toll Road Revenue Bonds, Refunding Junior

Lien Series 2014B

.250

01/15/44

4,246,454

1,000,000

San Ysidro School District, San Diego County, California,

General Obligation Bonds, 2020 Election Measure T, Series

2025C - BAM Insured

.000

08/01/47

1,067,054

3,095,000

San Ysidro School District, San Diego County, California,

General Obligation Bonds, 2020 Election Measure U, Series

2025C - BAM Insured

.000

08/01/47

3,302,532

3,395,000

San Ysidro School District, San Diego County, California,

General Obligation Bonds, 2020 Election Measure U, Series

2025C - BAM Insured

.000

08/01/48

3,611,762

275,000

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

Bonds, Community Facilities District 16-01, Series 2017

.250

09/01/47

282,214

9,075,000

Templeton Unified School District, San Luis Obispo County,

California, General Obligation Bonds, Election 2024 Series

2025A

.000

08/01/50

9,527,976

5,000,000

Victor Valley Union High School District, San Bernardino

County, California, General Obligation Bonds, 20008 Election

Series 2009A - AGC Insured

.750

08/01/31

5,122,554

2,485,000

Westminster School District, Orange County, California,

General Obligation Bonds, Series 2009-A1 - AGC Insured

.000

08/01/26

2,431,836

1,405,000

Westminster School District, Orange County, California,

General Obligation Bonds, Series 2009-A1 - AGC Insured

.000

08/01/28

1,306,049

2,920,000

Westminster School District, Orange County, California,

General Obligation Bonds, Series 2009-A1 - AGC Insured

.000

08/01/29

2,641,667

TOTAL CALIFORNIA

591,268,374

COLORADO - 4.5%

1,000,000

(c) Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2024

.500

12/01/44

979,412

2,000,000

(c) Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2024

.750

12/01/54

1,976,187

499,000

Aviation Station North Metropolitan District 2, Denver County,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2019A

.000

12/01/29

499,416

2,060,000

Aviation Station North Metropolitan District 2, Denver County,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2019A

.000

12/01/39

2,060,456

1,350,000

Aviation Station North Metropolitan District 2, Denver County,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2019A

.000

12/01/48

1,307,007

575,000

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

Limited Tax General Obligation Bonds, Convertible Capital

Appreciation Series 2020A-3

.750

12/01/49

585,153

500,000

Broadway Station Metropolitan District 2, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Series 2019A

.125

12/01/48

398,611

1,000,000

Canyons Metropolitan District 5, Douglas County, Colorado,

Limited Tax General Obligation and Special Revenue Bonds,

Subordinate Refunding Series 2024B - BAM Insured

.500

12/15/54

1,005,597

9,000,000

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

Revenue Bonds, Refunding & Improvement Series 2017

.000

12/01/47

8,738,103

1,780,000

Colorado Bridge and Tunnel Enterprise, Colorado, Senior

Infrastructure Revenue Bonds, Series 2025A

.250

12/01/50

1,888,700

2,450,000

Colorado Bridge and Tunnel Enterprise, Colorado, Senior

Infrastructure Revenue Bonds, Series 2025A

.250

12/01/54

2,593,270

2,065,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Community Leadership Academy

Project, Series 2008

.500

07/01/38

2,067,205

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

3,040,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Community Leadership Academy, Inc.

Second Campus Project, Series 2013

.350

%

08/01/43

$

3,044,375

6,680,000

(c) Colorado Educational and Cultural Facilities Authority, Cultural

Facilities Revenue Bonds, Stanley Project, Senior Lien Series

2025A-1

.875

02/01/59

6,940,830

1,400,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Christian Living Neighborhoods Project, Refunding Series 2016

.000

01/01/37

1,400,404

25,105,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2019A-1

.000

08/01/44

22,429,625

2,550,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2019B-1

.000

08/01/39

2,489,299

1,315,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2025A

.125

12/01/45

1,337,111

3,265,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2025A

.125

12/01/50

3,280,333

1,385,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2025A

.125

12/01/55

1,386,077

1,750,000

Colorado International Center Metropolitan District 14, Denver,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2018

.875

12/01/46

1,731,620

1,000,000

Copper Ridge Metropolitan District, Colorado Springs,

Colorado, Tax Increment and Sales Tax Supported Revenue

Bonds, Series 2019

.000

12/01/39

986,421

1,000,000

Crowfoot Valley Ranch Metropolitan District No. 2, Douglas

County, Colorado, Limited Tax General Obligation Bonds,

Refunding Subordinate Series 2024B

.125

12/15/54

964,350

8,125,000

Dawson Trails Metropolitan District 1, Colorado, In The

Town of Castle Rock, Limited Tax General Obligation Capital

Appreciation Turbo Bonds, Series 2024

.000

12/01/31

5,129,478

2,955,000

Denver Convention Center Hotel Authority, Colorado, Revenue

Bonds, Convention Center Hotel, Refunding Senior Lien Series

2016

.000

12/01/28

3,007,635

5,005,000

Denver Convention Center Hotel Authority, Colorado, Revenue

Bonds, Convention Center Hotel, Refunding Senior Lien Series

2016

.000

12/01/33

5,067,774

20,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2000B - NPFG Insured

.000

09/01/29

18,026

395,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2000B - NPFG Insured

.000

09/01/30

345,481

20,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2000B - NPFG Insured

.000

09/01/32

16,239

25,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2000B - NPFG Insured

.000

09/01/33

19,455

9,890,000

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

Series 2004A - NPFG Insured

.000

09/01/27

9,416,433

1,365,000

Foothills Metropolitan District, Fort Collins, Colorado, Special

Revenue Bonds, Series 2014

.000

12/01/38

1,315,805

845,000

Green Valley Ranch East Metropolitan District 6, Adams

County, Colorado, Limited Tax General Obligation Bonds,

Series 2020A-3

.875

12/01/50

853,998

2,900,000

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

Assessment Revenue Bonds, Special Improvement District 2,

Series 2024

.500

12/01/44

2,897,413

2,000,000

Hess Ranch Metropolitan District 6, Parker, Colorado, Limited

Tax General Obligation Bonds, Series 2020A-1

.000

12/01/49

1,899,348

1,000,000

Independence Metropolitan District 3, Elbert County,

Colorado, Limited Tax General Obligation Bonds, Special

Revenue Refunding and Improvement Series 2024A

.375

12/01/54

984,034

1,735,000

Jefferson Center Metropolitan District 1, Arvada, Jefferson

County, Colorado, Special Revenue Bonds, Subordinate Series

2020B

.750

12/15/50

1,738,561

20,250,000

(e) Painted Prairie Public Improvement Authority, Aurora,

Colorado, Special Revenue Bonds, Series 2019

.000

12/01/39

18,092,855

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

620,000

Park Creek Metropolitan District, Colorado, Senior Limited

Property Tax Supported Revenue Bonds, Refunding Series

2015A

.000

%

12/01/45

$

619,579

4,250,000

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

Brighton, Adams County, Colorado, Limited Property Tax

Supported Primary Improvements Revenue Bonds, Refunding

Series 2017A

.000

12/15/41

4,249,589

1,125,000

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

Special Revenue Bonds, Park and Recreation Improvements

Series 2018

.125

12/15/42

1,076,158

500,000

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

Brighton, Adams County, Colorado, Limited Property Tax

Supported District Improvements Revenue Bonds, Refunding

Series 2024B

.875

12/15/46

521,810

2,468,000

Prairie Farm Metropolitan District, In the City of Commerce

City, Adams County, Colorado, Limited Tax Convertible to

Unlimited Tax, General Obligation Bonds, Series 2018A

.250

12/01/48

2,422,913

1,810,000

Public Authority for Colorado Energy, Natural Gas Purchase

Revenue Bonds, Colorado Springs Utilities, Series 2008

.250

11/15/28

1,894,294

3,080,000

Public Authority for Colorado Energy, Natural Gas Purchase

Revenue Bonds, Colorado Springs Utilities, Series 2008

.500

11/15/38

3,725,569

2,410,000

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

Revenue Bonds, EVRAZ Project, Series 2021A

.750

12/01/45

2,254,438

3,555,000

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

Colorado, General Obligation Bonds, Limited Tax & Special

Revenue, Series 2025

.125

12/01/54

3,474,471

2,600,000

Redtail Ridge Metropolitan District, City of Louisville, Boulder

County, Colorado, General Obligation Limited Tax Capital

Appreciation Turbo Bonds, Series 2025

.000

12/01/32

1,601,445

3,450,000

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

Colorado, Special Assessment Revenue Bonds, Special

Improvement District 1, Series 2024

.875

12/01/44

3,230,705

500,000

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

Limited Tax General Obligation Bonds, Series 2020A

.000

12/01/40

490,350

1,000,000

(c),(f)

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

General Obligation Bonds, Firestone Convertible Capital

Appreciation Limited Tax Series 2024A

.000

09/20/54

692,444

1,500,000

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

Colorado, Limited Tax General Obligation and Special Revenue

Bonds, Refunding Second Lien Series 2025A-2

.250

12/01/55

1,525,083

3,611,000

Vauxmont Metropolitan District, Arvada, Colorado, Limited Tax

General Obligation and Special Revenue Bonds, Convertible

to Unlimited Tax Refunding Subordinate Series 2019 - AGM

Insured

.250

12/15/50

2,784,086

500,000

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

Limited Tax General Obligation Bonds, Series 2019

.125

12/01/34

495,760

2,000,000

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

Limited Tax General Obligation Bonds, Series 2019

.375

12/01/39

1,949,477

5,000,000

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

Limited Tax General Obligation Bonds, Series 2019

.500

12/01/48

4,701,651

7,740,000

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

General Obligation Limited Tax Bonds, Series 2024A-2

.000

12/01/54

4,959,263

2,200,000

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

Special Assessment Revenue Bonds, Special Improvement

District 1, Series 2024

.750

12/01/44

2,138,405

3,000,000

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

Limited Tax Supported Revenue Bonds, Series 2021A-1

.125

12/01/51

2,293,534

TOTAL COLORADO

167,993,121

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CONNECTICUT - 0.5%

$

2,500,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

%

07/01/36

$

2,511,652

5,630,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

07/01/38

5,555,471

5,000,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Trinity Health Credit Group, Series 2016CT

.000

12/01/41

5,033,511

2,500,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2020A - BAM

Insured

.000

05/01/36

2,557,411

2,550,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2020A - BAM

Insured

.000

05/01/39

2,577,123

TOTAL CONNECTICUT

18,235,168

DELAWARE - 0.3%

8,500,000

Delaware Health Facilities Authroity, Revenue Bonds, Beebe

Medical Center Project, Series 2018

.000

06/01/43

8,260,926

1,000,000

(g) Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024B, (UB)

.600

07/01/44

1,009,288

1,340,000

(g) Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024B, (UB)

.650

07/01/49

1,327,063

TOTAL DELAWARE

10,597,277

DISTRICT OF COLUMBIA - 0.6%

7,180,000

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

American Montessori Bilingual Public Charter School, Series

2020

.000

06/01/50

6,483,684

1,500,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Refunding & Subordinate Lien Series

2019B

.000

10/01/37

1,500,023

2,890,000

(g) Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Refunding & Subordinate Lien Series

2019B, (UB)

.000

10/01/53

2,463,618

3,745,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Second Senior Lien Series 2009B - AGC

Insured

.000

10/01/31

3,109,937

8,570,000

Washington Metropolitan Area Transit Authority, Dedicated

Revenue Bonds, Second Lien Green Series 2023A

.250

07/15/53

8,953,033

TOTAL DISTRICT OF COLUMBIA

22,510,295

FLORIDA - 7.1%

1,885,000

Atlantic Beach, Florida, Healthcare Facilities Revenue

Refunding Bonds, Fleet Landing Project, Series 2013A

.000

11/15/28

1,887,033

345,000

Boynton Village Community Development District, Florida,

Special Assessment Bonds, Series 2007-A1

.750

05/01/37

345,285

8,605,000

Broward County, Florida, Port Facilities Revenue Bonds, Series

2019A

.000

09/01/44

8,778,741

3,520,000

Broward County, Florida, Port Facilities Revenue Bonds, Series

2019B, (AMT)

.000

09/01/38

3,400,027

245,000

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

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/40

231,723

7,910,000

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

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/50

6,930,916

3,470,000

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

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/55

2,986,928

1,500,000

Capital Trust Agency, Florida, Multifamily Housing Revenue

Bonds, The Gardens Apartments Project, Series 2015A

.750

07/01/40

1,051,580

1,380,000

Capital Trust Agency, Florida, Multifamily Housing Revenue

Bonds, The Gardens Apartments Project, Series 2015A

.000

07/01/50

910,644

565,000

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

Charter School Project, Series 2019A

.000

06/15/39

539,533

610,000

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

Charter School Project, Series 2019A

.000

06/15/49

543,078

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,290,000

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

Bonds, Babcock Neighborhood School Inc Project, Series 2024

.125

%

08/15/39

$

2,179,525

1,100,000

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

Bonds, Babcock Neighborhood School Inc Project, Series 2024

.000

08/15/63

1,006,571

7,000,000

Central Florida Expressway Authority, Revenue Bonds, Senior

Lien Series 2019B

.000

07/01/49

7,091,913

300,000

Cityplace Community Development District, Florida, Special

Assessement and Revenue Bonds, Refunding Series 2012

.000

05/01/26

302,816

1,255,000

Edgewater West Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Series 2024

.250

05/01/44

1,213,800

1,500,000

(c) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School, Inc.

Projects, Series 2014A

.125

06/15/44

1,500,205

315,000

(c) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School, Inc.

Projects, Series 2020C

.000

09/15/50

270,216

20,050,000

(c) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

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

7/15/28)

.000

07/15/32

12,506,187

6,100,000

(g) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

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

(UB)

.000

07/01/44

6,005,263

8,230,000

(g) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

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

(UB)

.250

07/01/53

8,049,415

25,125,000

(c) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Series

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

.000

07/01/57

21,405,852

1,270,000

(c) Florida Development Finance Corporation, Student Housing

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

2024A-1

.000

06/01/44

1,224,866

12,020,000

Halifax Hospital Medical Center, Daytona Beach, Florida,

Hospital Revenue Bonds, Series 2024

.250

06/01/54

12,339,231

26,155,000

Hillsborough County Industrial Development Authority, Florida,

Hospital Revenue Bonds, Florida Health Sciences Center Inc

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

.000

08/01/50

22,795,584

1,040,000

Jacksonville, Florida, Health Care Facilities Revenue Bonds,

Brooks Rehabilitation, Series 2020

.000

11/01/37

1,013,561

1,085,000

Jacksonville, Florida, Health Care Facilities Revenue Bonds,

Brooks Rehabilitation, Series 2020

.000

11/01/38

1,042,478

1,650,000

Jacksonville, Florida, Health Care Facilities Revenue Bonds,

Brooks Rehabilitation, Series 2020

.000

11/01/39

1,567,486

2,170,000

Jacksonville, Florida, Health Care Facilities Revenue Bonds,

Brooks Rehabilitation, Series 2020

.000

11/01/40

2,034,466

250,000

Lee County Industrial Development Authority, Florida, Charter

School Revenue Bonds, Lee County Community Charter

Schools, Series 2007A

.250

06/15/27

250,142

785,000

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

School Revenue Bonds, Lee County Community Charter

Schools, Series 2012A

.500

06/15/32

785,548

1,375,000

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

School Revenue Bonds, Lee County Community Charter

Schools, Series 2012A

.750

06/15/42

1,366,347

2,375,000

Miami Beach Redevelopment Agency, Florida, Tax Increment

Revenue Bonds, City Center/Historic Convention Village,

Refunding Series 2025

.000

02/01/42

2,496,392

5,025,000

Miami Beach Redevelopment Agency, Florida, Tax Increment

Revenue Bonds, City Center/Historic Convention Village,

Refunding Series 2025

.000

02/01/43

5,227,865

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,205,000

Miami Beach Redevelopment Agency, Florida, Tax Increment

Revenue Bonds, City Center/Historic Convention Village,

Refunding Series 2025

.000

%

02/01/44

$

2,286,559

6,275,000

Miami, Florida, Limited Ad Valorem Tax Bonds, Forever

Infrastructure Programs Series 2024A

.500

01/01/49

6,819,954

12,195,000

Miami-Dade County, Florida, Aviation Revenue Bonds,

Refunding Series 2015A - BAM Insured, (AMT)

.000

10/01/38

12,209,688

5,025,000

Miami-Dade County, Florida, Seaport Revenue Bonds,

Refunding Series 2022A, (AMT)

.250

10/01/52

5,091,888

2,870,000

Miami-Dade County, Florida, Special Obligation Bonds,

Subordinate Series 2009 - BAM Insured

.000

10/01/37

1,818,348

10,000,000

Miami-Dade County, Florida, Transit System Sales Surtax

Revenue Bonds, Series 2022

.000

07/01/45

10,334,272

345,000

(c) Mirada Community Development District, Florida, Capital

Improvement Bonds, Assessment Area 3 Series 2024

.750

05/01/31

350,960

255,000

(c) Mirada Community Development District, Florida, Capital

Improvement Bonds, Assessment Area 3 Series 2024

.625

05/01/44

253,835

595,000

(c) Mirada Community Development District, Florida, Capital

Improvement Bonds, Assessment Area 3 Series 2024

.000

05/01/55

597,772

1,950,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/41

2,103,244

2,400,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/42

2,563,041

2,460,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/43

2,609,057

1,935,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/44

2,040,401

3,000,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/45

3,152,283

5,095,000

Putnam County Development Authority, Florida, Pollution

Control Revenue Bonds, Seminole Electric Cooperatice, Inc.

Project, Refunding Series 2018B

.000

03/15/42

5,167,496

5,000,000

Sarasota County Public Hospital District, Florida, Hospital

Revenue Bonds, Sarasota Memorial Hospital Project, Series

2018

.000

07/01/41

5,072,844

1,685,000

School Board of Lee County, Florida, Certificates of

Participation, Series 2023A

.000

08/01/38

1,829,630

4,500,000

Seminole County Industrial Development Authority, Florida,

Retirement Facility Revenue Bonds, Legacy Pointe At UCF

Project, Series 2019A

.250

11/15/39

4,364,368

1,015,000

Seminole County Industrial Development Authority, Florida,

Retirement Facility Revenue Bonds, Legacy Pointe At UCF

Project, Series 2019A

.500

11/15/49

919,255

2,610,000

South Broward Hospital District, Florida, Hospital Revenue

Bonds, South Broward Hospital District Obligated Group,

Refunding Series 2016A

.000

05/01/44

2,425,884

4,525,000

South Miami Health Facilities Authority, Florida, Hospital

Revenue Bonds, Baptist Health Systems of South Florida

Obligated Group, Refunding Series 2017

.000

08/15/42

4,126,724

18,525,000

South Miami Health Facilities Authority, Florida, Hospital

Revenue Bonds, Baptist Health Systems of South Florida

Obligated Group, Refunding Series 2017

.000

08/15/42

18,734,699

2,965,000

South Miami Health Facilities Authority, Florida, Hospital

Revenue Bonds, Baptist Health Systems of South Florida

Obligated Group, Refunding Series 2017 - BAM Insured

.000

08/15/42

3,012,900

2,030,000

Southeast Overtown/Park West Community Redevelopment

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

.000

03/01/37

2,215,820

1,200,000

Southeast Overtown/Park West Community Redevelopment

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

.000

03/01/39

1,290,140

2,215,000

Southeast Overtown/Park West Community Redevelopment

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

.000

03/01/40

2,360,668

1,000,000

Southeast Overtown/Park West Community Redevelopment

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

.250

03/01/41

1,079,187

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,250,000

Southeast Overtown/Park West Community Redevelopment

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

.250

%

03/01/42

$

2,409,011

2,640,000

(c) Tolomato Community Development District, Florida, Special

Assessment Bonds, Refunding Series 2022A - AGM Insured

.000

05/01/40

2,517,676

13,000,000

Volusia County Educational Facilities Authority, Florida,

Revenue Bonds, Stetson University Inc. Project, Series 2015

.000

06/01/40

13,000,239

TOTAL FLORIDA

264,039,060

GEORGIA - 1.3%

3,785,000

Atlanta Development Authority, Georgia, Economic

Development Certificates, Gulch Enterprise Zone Project,

Convertible Capital Appreciation Series 2024A-1 Class A

.500

12/15/48

3,324,699

1,650,000

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

Westside Gulch Area Project, Senior Series 2024A-2

.500

04/01/39

1,676,440

2,500,000

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

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.750

01/01/35

1,425,000

1,000,000

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

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.000

01/01/40

570,000

8,335,000

Fayette County Development Authority, Georgia, Revenue

Bonds, United States Soccer Federation, Inc. Project Series

2024

.250

10/01/49

8,601,219

5,500,000

Griffin-Spalding County Hospital Authority, Georgia, Revenue

Anticipation Certificates, Wellstar Health System Inc., Series

2017A

.000

04/01/42

5,142,524

1,000,000

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

Bonds, Series 2007A

.500

09/15/28

1,064,253

17,600,000

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

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

.000

08/01/52

17,710,773

4,500,000

Savannah Hospital Authority, Georgia, Revenue Bonds, Saint

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

Series 2019A

.000

07/01/39

4,328,743

615,000

Savannah-Georgia Convention Center Authority, Convention

Center Hotel First Tier Revenue Bonds, Series 2025A

.250

06/01/40

646,971

2,735,000

(c) Savannah-Georgia Convention Center Authority, Convention

Center Hotel Second Tier Revenue Bonds, Series 2025B

.000

06/01/50

2,686,666

1,000,000

(c) Savannah-Georgia Convention Center Authority, Convention

Center Hotel Second Tier Revenue Bonds, Series 2025B

.250

06/01/61

1,001,813

TOTAL GEORGIA

48,179,101

GUAM - 0.1%

1,250,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.250

01/01/37

1,365,660

1,000,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.250

01/01/39

1,075,341

750,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.250

01/01/40

800,387

1,055,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Series 2025A

.250

07/01/41

1,121,628

1,000,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Series 2025A

.500

07/01/45

1,060,065

TOTAL GUAM

5,423,081

HAWAII - 0.0%

1,400,000

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

Revenue Bonds, Hawaii Pacific University Project, Refunding

Series 2024

.000

07/01/34

1,419,822

TOTAL HAWAII

1,419,822

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

IDAHO - 0.4%

$

425,000

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

and Gem Counties, Idaho, Special Assessment Revenue Bonds,

Assessment Area 5 Series 2024

.875

%

09/01/53

$

433,472

1,000,000

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

and Gem Counties, Idaho, Special Assessment Revenue Bonds,

Assessment Area 6 Series 2024B

.500

09/01/53

1,000,846

1,485,000

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

Participation, Annual Appropriation Series 2021

.250

05/15/51

1,396,837

4,200,000

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

Health System Project, Series 2018A

.000

03/01/36

4,338,522

1,290,000

Idaho Housing and Finance Association, Grant and Revenue

Anticipation Bonds, Federal Highway Trust Funds, Series 2021A

.000

07/15/38

1,292,740

2,000,000

(c) Idaho Housing and Finance Association, Nonprofit Facilities

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

Refunding Series 2016A

.000

12/01/38

1,996,715

2,500,000

(c) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, The College of Idaho Project, Series 2023

.625

11/01/43

2,517,525

2,610,000

(g) Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, Series 2024A, (UB)

.650

01/01/54

2,595,406

TOTAL IDAHO

15,572,063

ILLINOIS - 9.0%

67,800,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2016

.000

04/01/46

68,739,488

2,125,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.250

04/01/35

2,307,324

1,250,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.250

04/01/37

1,332,169

1,600,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.000

04/01/38

1,665,503

1,000,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.250

04/01/39

1,050,104

1,960,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.500

04/01/42

2,044,302

625,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues Series 2012A

.000

12/01/42

590,235

1,215,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Project Series 2015C

.250

12/01/39

1,208,265

10,000,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Series 2023A

.000

12/01/34

10,220,156

1,250,000

Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2020A

.000

12/01/45

1,273,675

2,220,000

Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2020A

.000

12/01/50

1,974,052

8,805,000

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

Refunding Series 2017A, (UB)

.000

01/01/38

8,977,374

705,000

Chicago, Illinois, General Obligation Bonds, Refunding Series

2016C

.000

01/01/35

705,887

2,175,000

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

2016C, (UB)

.000

01/01/38

2,175,007

6,000,000

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

2020A, (UB)

.000

01/01/30

6,325,996

5,000,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/31

5,463,349

1,700,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/32

1,872,822

1,600,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/33

1,772,181

450,000

Chicago, Illinois, Water Revenue Bonds, Refunding Second

Lien Series 2023B - AGM Insured

.000

11/01/37

482,770

5,000,000

Illinois Finance Authority Revenue Bonds, OSF Healthcare

System, Series 2018A - BAM Insured

.125

05/15/47

4,742,162

1,450,000

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

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

.000

02/15/41

1,480,631

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

5,000

Illinois Finance Authority, Revenue Bonds, Ascension Health

Alliance, Series 2016C

.000

%

02/15/41

$

4,772

700,000

Illinois Finance Authority, Revenue Bonds, Dominican

University, Refunding Series 2022

.000

03/01/42

656,847

220,000

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

Project, Refunding Series 2025A

.125

10/01/35

225,276

855,000

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

Project, Refunding Series 2025A

.000

10/01/45

865,412

760,000

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

Project, Refunding Series 2025A

.125

10/01/50

769,727

10,810,000

Illinois Finance Authority, Revenue Bonds, Mercy Health

Corporation, Series 2016

.000

12/01/40

10,854,946

12,295,000

Illinois Finance Authority, Revenue Bonds, Northshore -

Edward-Elmhurst Health Credit Group, Series 2022A

.000

08/15/47

12,535,532

10,715,000

Illinois Finance Authority, Revenue Bonds, OSF Healthcare

System, Series 2015A

.000

11/15/45

10,717,057

20,000

Illinois Finance Authority, Revenue Bonds, Rush University

Medical Center Obligated Group, Series 2015A

.000

11/15/39

18,967

1,965,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

and Medical Centers, Refunding Series 2025A

.000

08/15/40

2,101,602

1,720,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

and Medical Centers, Refunding Series 2025A

.000

08/15/41

1,815,375

14,715,000

Illinois Finance Authority, Revenue Bonds, The University of

Chicago Medical Center, Series 2016B

.000

08/15/41

13,794,356

450,000

Illinois Finance Authority, Revenue Bonds, University of

Chicago, Series 2024A

.250

04/01/49

471,790

7,335,000

Illinois Sports Facility Authority, State Tax Supported Bonds,

Refunding Series 2014 - AGM Insured

.250

06/15/31

7,349,807

10,105,000

Illinois State, General Obligation Bonds, December Series

2023C

.000

12/01/47

10,252,939

4,725,000

Illinois State, General Obligation Bonds, December Series

2023C

.000

12/01/48

4,785,489

3,725,000

Illinois State, General Obligation Bonds, June Series 2016

.000

06/01/36

3,710,188

10,000,000

Illinois State, General Obligation Bonds, May Series 2020

.750

05/01/45

10,487,996

4,000,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/43

4,211,328

2,000,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/44

2,094,109

1,575,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/45

1,641,520

1,600,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/47

1,654,838

2,760,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/49

2,839,064

11,625,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/27

12,161,325

3,000,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/28

3,135,729

2,000,000

Illinois State, General Obligation Bonds, Refunding September

Series 2018A

.000

10/01/28

2,132,626

27,690,000

Illinois State, General Obligation Bonds, September Series

2025D

.000

09/01/37

30,081,231

6,570,000

Illinois State, General Obligation Bonds, September Series

2025D

.000

09/01/39

7,009,061

14,185,000

Illinois State, General Obligation Bonds, September Series

2025F

.250

09/01/46

14,715,499

7,000,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Refunding Series 2020A

.000

06/15/50

6,912,067

1,500,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Refunding Series 2022A

.000

12/15/42

1,379,006

1,225,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2015A

.000

06/15/53

1,200,976

10,000,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

AGM Insured

.000

12/15/35

6,781,926

23,065,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

NPFG Insured

.000

06/15/37

14,193,839

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

1,838,000

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

2 Lakewood Springs Project, Refunding Series 2014 - AGM

Insured

.000

%

03/01/34

$

1,839,945

3,045,000

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

McHenry and Will Counties, Illinois, General Obligation Bonds,

Series 2001A - FGIC Insured

.000

07/01/27

3,165,679

TOTAL ILLINOIS

334,971,298

INDIANA - 1.9%

2,000,000

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

Development Revenue Bonds, Drexel Foundation for

Educational Excellence Project, Refunding Series 2020A

.875

06/01/55

1,772,088

3,150,000

IIndiana Finance Authority, Hospital Revenue Bonds, Parkview

Health, Series 2018A

.000

11/01/43

3,198,959

825,000

(c) Indiana Finance Authority, Educational Facilities Revenue

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

.000

12/01/40

758,587

5,000,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, Rose Hulman Institute Of Technology Project, Series

2018

.000

06/01/44

4,649,471

1,640,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, Valparaiso University Project, Series 2014

.000

10/01/39

1,540,134

2,790,000

(c) Indiana Finance Authority, Educational Facilities Revenue

Bonds, Victory College Prep Project, Series 2021A

.500

12/01/55

2,163,766

800,000

Indiana Finance Authority, Revenue Bonds, First Lien Thermal

Energy System Utility, Citizens Energy Group Project, Series

2025A

.000

10/01/32

900,625

780,000

Indiana Finance Authority, Revenue Bonds, First Lien Thermal

Energy System Utility, Citizens Energy Group Project, Series

2025A

.000

10/01/33

881,717

800,000

Indiana Finance Authority, Revenue Bonds, First Lien Thermal

Energy System Utility, Citizens Energy Group Project, Series

2025A

.000

10/01/34

906,276

4,200,000

Indiana Finance Authority, Revenue Bonds, First Lien Thermal

Energy System Utility, Citizens Energy Group Project, Series

2025A

.500

10/01/55

4,485,254

10,325,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, First Lien Green Series 2016A

.000

10/01/41

10,440,746

4,880,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, First Lien Green Series 2016A

.000

10/01/46

4,898,084

3,385,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.750

03/01/43

3,532,299

8,495,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.000

03/01/53

8,814,930

1,815,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.125

03/01/57

1,895,204

3,080,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Subordinate Series

2023F-1 - BAM Insured

.000

03/01/53

3,148,225

3,225,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Subordinate Series

2023F-1 - BAM Insured

.000

03/01/58

3,286,229

3,000,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Subordinate Series

2023F-1 - BAM Insured

.250

03/01/67

3,097,781

8,435,000

Whiting, Indiana, Environmental Facilities Revenue Bonds,

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

(Mandatory Put 6/10/31)

.400

11/01/45

8,998,833

TOTAL INDIANA

69,369,208

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

IOWA - 1.0%

$

2,000,000

Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Alcoa Inc. Project, Series 2012

.750

%

08/01/42

$

1,980,347

25,575,000

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

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

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

12/01/42)

.000

12/01/50

29,462,254

200,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.000

05/15/39

203,620

245,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.000

05/15/44

236,129

1,500,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.000

05/15/49

1,410,919

2,600,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.125

05/15/59

2,434,854

TOTAL IOWA

35,728,123

KANSAS - 0.1%

1,500,000

Hutchinson, Kansas, Hospital Facilities Revenue Bonds,

Hutchinson Regional Medical Center, Inc., Series 2016

.000

12/01/36

1,428,383

1,320,000

Hutchinson, Kansas, Hospital Facilities Revenue Bonds,

Hutchinson Regional Medical Center, Inc., Series 2016

.000

12/01/41

1,168,034

1,250,000

Wichita, Kansas, Health Care Facilities Revenue Bonds,

Presbyterian Manors, Series 2024VIII

.750

05/15/45

1,196,462

TOTAL KANSAS

3,792,879

KENTUCKY - 1.2%

6,675,000

Carroll County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project, Refunding Series

2006B, (AMT)

.125

10/01/34

5,517,560

2,545,000

Kentucky Bond Development Corporation, Transient Room Tax

Revenue Bonds, Lexington Center Corporation Project, Series

2018A

.000

09/01/43

2,584,353

2,600,000

Kentucky Bond Development Corporation, Transient Room Tax

Revenue Bonds, Lexington Center Corporation Project, Series

2018A

.000

09/01/48

2,613,035

6,565,000

Kentucky Economic Development Finance Authority, Louisville

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

Series 2017A - AGM Insured

.000

12/01/45

6,617,274

8,500,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, CommonSpirit Health, Series 2019A-2

.000

08/01/44

8,577,897

1,880,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, Next Generation Kentucky Information Highway Project,

Senior Series 2015A

.000

07/01/26

1,882,163

2,100,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, Next Generation Kentucky Information Highway Project,

Senior Series 2015A

.000

07/01/33

2,102,022

5,655,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, Next Generation Kentucky Information Highway Project,

Senior Series 2015A

.000

07/01/37

5,658,269

3,885,000

Louisville/Jefferson County Metro Government, Kentucky,

Health System Revenue Bonds, Norton Healthcare Inc, Series

2016A

.000

10/01/30

3,960,402

1,850,000

Louisville/Jefferson County Metro Government, Kentucky,

Health System Revenue Bonds, Norton Healthcare Inc, Series

2016A

.000

10/01/31

1,883,412

5,415,000

Louisville/Jefferson County Metro Government, Kentucky,

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

2020A - BAM Insured

.000

10/01/43

4,387,808

TOTAL KENTUCKY

45,784,195

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA - 0.7%

$

1,600,000

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

Lake Charles Charter Academy Foundation Project, Refunding

Series 2024A

.000

%

12/15/34

$

1,630,543

1,350,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

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

Project, Senior Lien Series 2024, (AMT)

.500

09/01/54

1,368,631

3,700,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

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

Project, Senior Lien Series 2024, (AMT)

.500

09/01/59

3,735,299

10,315,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

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

Project, Senior Lien Series 2024, (AMT)

.750

09/01/64

10,594,267

7,010,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

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

Project, Senior Lien Series 2024, (AMT)

.000

09/01/66

6,667,100

1,100,000

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

Facilities Revenue Bonds NOLA Terminal LLC Project Dock and

Wharf Series 2024A

.000

12/01/44

944,168

500,000

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

L.P. Project, Series 2010

.350

07/01/40

543,151

1,650,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

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

(Mandatory Put 7/01/26)

.200

06/01/37

1,642,039

TOTAL LOUISIANA

27,125,198

MAINE - 0.3%

725,000

(c) Maine Finance Authority, Solid Waste Disposal Revenue

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

(Mandatory Put 6/01/35)

.625

12/01/47

714,541

4,690,000

Maine Health and Higher Educational Facilities Authority

Revenue Bonds, Eastern Maine Medical Center Obligated

Group Issue, Series 2016A

.000

07/01/46

4,321,507

4,970,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, MaineHealth Issue, Series 2020A

.000

07/01/45

4,539,847

1,420,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2021C

.300

11/15/46

970,749

TOTAL MAINE

10,546,644

MARYLAND - 1.0%

10,000,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/39

10,004,097

665,000

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

Limited Obligation Bonds, Jefferson Technology Park Project,

Refunding Series 2020B

.625

07/01/43

631,231

1,000,000

(c) Maryland Economic Development Corporation, Port Facilities

Revenue Bonds, Core Natural Resources Inc. Project, Refunding

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

.000

07/01/48

1,033,054

17,255,000

Maryland Health and HIgher Educational Facilities

Authority, Revenue Bonds, University of Maryland Medical

Systems, Series 2025A

.250

07/01/52

18,000,535

8,500,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, MedStar Health Issue, Series 2015

.000

08/15/42

8,501,777

TOTAL MARYLAND

38,170,694

MASSACHUSETTS - 1.9%

2,500,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/43

2,688,441

1,880,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/44

2,010,178

2,730,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/45

2,908,886

3,613,640

(c),(e)

Massachusetts Development Finance Agency, Health Care

Facility Revenue Bonds, Adventcare Project, Series 2007A

.750

10/15/37

1,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Green Bonds, Series 2015D

.000

07/01/44

971,568

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MASSACHUSETTS

(continued)

$

1,200,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2016E

.000

%

07/01/35

$

1,209,603

5,590,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2016E

.000

07/01/37

5,619,584

3,500,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2023G

.250

07/01/48

3,497,727

1,500,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2023G

.250

07/01/52

1,495,146

4,425,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center, Green Series 2017F

.000

07/01/47

3,821,869

5,285,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/37

5,470,964

5,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/38

5,160,046

5,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/43

5,085,149

1,500,000

Massachusetts Development Finance Agency, Revenue Bonds,

Emmanuel College, Series 2016A

.000

10/01/43

1,404,326

16,140,000

Massachusetts Development Finance Agency, Revenue Bonds,

UMass Memorial Issue Series 2025N-1

.250

07/01/50

16,323,639

4,785,000

Massachusetts Development Finance Agency, Revenue Bonds,

Wellforce Issue, Series 2019A

.000

07/01/39

4,804,821

2,250,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/36

2,632,285

2,000,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/37

2,335,177

2,500,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/38

2,911,527

TOTAL MASSACHUSETTS

70,350,972

MICHIGAN - 1.8%

3,585,000

Detroit Downtown Development Authority, Michigan, Tax

Increment Revenue Bonds, Catalyst Development Project,

Refunding Series 2024

.000

07/01/48

3,709,479

1,345,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Second Lien Series 2025C

.500

07/01/50

1,454,562

3,360,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Second Lien Series 2025C

.500

07/01/55

3,619,406

12,240,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Senior Lien Series 2018A

.000

07/01/48

12,437,649

3,250,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Senior Lien Series 2023C

.250

07/01/53

3,416,154

2,285,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Second Lien Series 2025D

.500

07/01/50

2,454,967

2,270,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Second Lien Series 2025D

.500

07/01/55

2,432,811

3,105,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Senior Lien Series 2023B

.250

07/01/48

3,295,034

2,890,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Senior Lien Series 2025C

.250

07/01/50

3,050,224

1,430,000

Michigan Finance Authority, Hospital Revenue Bonds, Henry

Ford Health System, Refunding Series 2016

.000

11/15/46

1,279,184

1,260,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/38

1,379,569

1,000,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/39

1,086,276

1,090,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/40

1,175,355

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MICHIGAN

(continued)

$

1,800,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

%

07/01/43

$

1,886,017

1,400,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/44

1,456,221

2,360,000

Michigan Hospital Finance Authority, Hospital Revenue Bonds,

Corewell Health, Series 2025A

.000

08/15/43

2,496,004

2,545,000

Michigan Hospital Finance Authority, Hospital Revenue Bonds,

Corewell Health, Series 2025A

.000

08/15/44

2,676,468

1,115,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2024A

.100

12/01/39

1,101,528

2,725,000

(g) Michigan Housing Development Authority, Single Family

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

.500

12/01/44

2,702,315

1,250,000

Michigan Public Educational Facilities Authority, Limited

Obligation Revenue Bonds, Chandler Park Academy Project,

Series 2008

.500

11/01/35

1,250,785

4,000,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

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

.000

12/31/43

4,006,159

2,455,000

Southfield Public Schools, County Of Oakland, State Of

Michigan, General Obligation Bonds, School Building and Site

Series 2025

.250

05/01/55

2,576,816

1,550,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2023B -

AGM Insured, (AMT)

.000

12/01/33

1,721,565

1,690,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2023B -

AGM Insured, (AMT)

.500

12/01/41

1,837,821

1,365,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2023B -

AGM Insured, (AMT)

.500

12/01/43

1,463,551

TOTAL MICHIGAN

65,965,920

MINNESOTA - 1.5%

150,000

City of Ham Lake, Minnesota, Charter School Lease Revenue

Bonds, DaVinci Academy Project,Series 2016A

.000

07/01/36

145,036

270,000

City of Ham Lake, Minnesota, Charter School Lease Revenue

Bonds, DaVinci Academy Project,Series 2016A

.000

07/01/47

230,978

2,805,000

(c) Dakota County Community Development Agency, Minnesota,

Senior Housing Revenue Bonds, Walker Highview Hills LLC

Project, Refunding Series 2016A

.000

08/01/46

2,567,682

3,000,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A

.250

02/15/48

2,735,004

3,295,000

Forest Lake, Minnesota Charter School Lease Revenue Bonds,

North Lakes Academy, Refunding Series 2021A

.000

07/01/41

2,973,215

11,160,000

Forest Lake, Minnesota Charter School Lease Revenue Bonds,

North Lakes Academy, Refunding Series 2021A

.000

07/01/56

9,142,016

11,605,000

Minnesota Agricultural and Economic Development Board,

Health Care Facilities Revenue Bonds, Essentia Health

Obligated Group, Series 2024A

.250

01/01/54

11,954,077

500,000

Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Nova Classical

Academy, Series 2016A

.125

09/01/47

418,327

1,580,000

Saint Paul Housing and Redevelopment Authority, Minnesota,

Health Care Facility Revenue Bonds, HealthPartners Obligated

Group, Refunding Series 2015A

.000

07/01/35

1,579,991

16,825,000

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

Revenue Bonds, Gerdau Saint Paul Steel Mill Project, Series

2012-7, (AMT)

.500

10/01/37

16,117,238

2,500,000

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

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

refunded 11/15/25)

.000

11/15/27

2,506,972

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA

(continued)

$

235,000

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

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

refunded 11/15/25)

.000

%

11/15/44

$

235,656

725,000

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

Math and Science Academy Building Company, Refunding

Series 2025A

.250

06/01/45

678,573

1,525,000

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

Math and Science Academy Building Company, Refunding

Series 2025A

.500

06/01/63

1,400,222

1,780,000

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

Math and Science Academy, Refunding Series 2025

.500

06/01/55

1,659,535

TOTAL MINNESOTA

54,344,522

MISSISSIPPI - 0.3%

4,500,000

Warren County, Mississippi, Certificates of Participation, Lease

Purchase Jail Project Series 2023 - BAM Insured

.000

09/01/48

4,959,585

6,200,000

Warren County, Mississippi, Certificates of Participation, Lease

Purchase Jail Project Series 2023 - BAM Insured

.000

09/01/53

6,760,398

TOTAL MISSISSIPPI

11,719,983

MISSOURI - 1.7%

3,185,000

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

District, St Clair County Metrolink Extension Project Bonds,

Refunding Series 2006 - AGM Insured

.250

07/01/27

3,332,655

5,000,000

Kansas City Industrial Development Authority, Missouri, Airport

Special Obligation Bonds, Kansas City International Airport

Terminal Modernization Project, Series 2019A, (AMT)

.000

03/01/39

5,106,284

1,650,000

(c) Kansas City Industrial Development Authority, Missouri,

Economic Activity Tax Revenue Bonds, Historic Northeast

Redevelopment Plan Series 2024A-1

.000

06/01/54

1,522,689

2,000,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Children's Mercy Hospital, Series 2016

.000

05/15/39

1,982,341

15,100,000

Missouri Joint Municipal Electric Utility Commission, Power

Project Revenue Bonds, Plum Point Project, Refunding Series

2015A

.000

01/01/35

15,104,702

2,500,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Expansion & Improvement

Projects Series 2020 - AGM Insured

.000

10/01/40

2,619,309

8,025,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Expansion & Improvement

Projects Series 2020 - AGM Insured

.000

10/01/45

8,230,179

5,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/31

4,100,217

7,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/32

5,490,901

6,250,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/33

4,684,327

7,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/34

5,003,110

6,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/35

4,070,031

2,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2010A - AGC

Insured

.000

07/15/36

1,281,398

1,288,000

Saint Louis, Missouri, Tax Increment Financing Revenue Bonds,

Fashion Square Redevelopment Project, Series 2008A

.300

08/22/26

270,480

1,259,000

Saint Louis, Missouri, Tax Increment Financing Revenue Notes,

Marquette Building Redevelopment Project, Series 2008-A

.500

01/23/28

440,650

TOTAL MISSOURI

63,239,273

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MONTANA - 0.1%

$

1,910,000

Montana Facility Finance Authority, Healthcare Facility Revenue

Bonds, Kalispell Regional Medical Center, Series 2018B

.000

%

07/01/43

$

1,937,579

TOTAL MONTANA

1,937,579

NEBRASKA - 0.9%

7,500,000

Central Plains Energy Project, Nebraska, Gas Project Revenue

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

.000

05/01/53

7,975,985

6,500,000

(g) Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Social Series 2024C, (UB)

.550

09/01/44

6,510,265

17,500,000

(g) Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Social Series 2024C, (UB)

.800

09/01/54

17,518,543

TOTAL NEBRASKA

32,004,793

NEVADA - 0.1%

1,150,000

Carson City, Nevada, Hospital Revenue Bonds, Carson Tahoe

Regional Healthcare Project, Series 2017A

.000

09/01/47

1,122,185

4,359,392

(c),(e)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

Holdings LLC, Green Series 2019, (AMT)

.750

02/15/38

3,900,000

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

Revenue Bonds, Brightline West Passenger Rail Project, Series

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

.500

01/01/65

3,565,847

TOTAL NEVADA

4,688,076

NEW HAMPSHIRE - 0.8%

4,384,311

National Finance Authority, New Hampshire, Municipal

Certificates Social Series 2023-2 Class A

.875

01/20/38

4,072,915

4,340,000

(c) National Finance Authority, New Hampshire, Resource

Recovery Revenue Bonds, Covanta Project, Refunding Series

2018B

.625

11/01/42

3,915,421

12,405,000

(c) National Finance Authority, New Hampshire, Special

Revenue Bonds, Bridgeland Water & Utility Districts

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

.875

12/15/33

12,484,505

12,000,000

(c) New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Covenant Health Group Series 2023

.000

07/01/37

10,263,276

TOTAL NEW HAMPSHIRE

30,736,117

NEW JERSEY - 1.5%

9,090,000

(h) New Jersey Economic Development Authority, School Facilities

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

.500

06/15/29

9,418,090

2,255,000

New Jersey Economic Development Authority, Special

Facilities Revenue Bonds, Continental Airlines Inc., Series

2000A & 2000B, (AMT)

.625

11/15/30

2,258,997

1,000,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Higher Education Capital Improvement Fund Series 2023A

.000

09/01/37

1,092,584

1,825,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Higher Education Capital Improvement Fund Series 2023A

.000

09/01/39

1,963,504

2,000,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Higher Education Capital Improvement Fund Series 2023A

.000

09/01/41

2,117,961

1,265,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Higher Education Capital Improvement Fund Series 2023A

.000

09/01/43

1,319,239

1,250,000

New Jersey Health Care Facilities Authority, Revenue Bonds,

Atlanticare Health System Obligated Group Issue, Series 2021

- BAM Insured

.000

07/01/38

1,145,580

4,110,000

New Jersey Health Care Facilities Authority, Revenue Bonds,

Atlanticare Health System Obligated Group Issue, Series 2021

- BAM Insured

.000

07/01/41

3,578,711

4,500,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2015AA

.250

06/15/41

4,502,999

3,955,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019AA

.250

06/15/43

4,065,526

5,500,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019BB

.000

06/15/44

5,598,692

4,000,000

(h) New Jersey Transportation Trust Fund Authority, Transportation

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

.000

06/15/50

4,329,815

3,175,000

New Jersey Turnpike Authority, Revenue Bonds, Series 2005A

- AGM Insured

.250

01/01/26

3,195,576

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW JERSEY

(continued)

$

9,185,000

New Jersey Turnpike Authority, Turnpike Revenue Bonds,

Series 2025A

.250

%

01/01/50

$

9,843,582

TOTAL NEW JERSEY

54,430,856

NEW MEXICO - 0.0%

990,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021C

.350

07/01/51

603,674

TOTAL NEW MEXICO

603,674

NEW YORK - 8.9%

1,835,000

Babylon Local Development Corporation II, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2023A

.400

02/01/43

1,861,492

2,710,000

Buffalo and Erie County Industrial Land Development

Corporation, New York, Revenue Bonds, Catholic Health

System, Inc. Project, Series 2015

.250

07/01/35

2,653,158

250,000

Buffalo and Erie County Industrial Land Development

Corporation, New York, Revenue Bonds, Charter School for

Applied Technologies, Series 2017A

.000

06/01/35

254,476

1,790,000

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

Family Life Academy Charter School, Series 2020A-1

.250

06/01/40

1,702,381

4,800,000

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

Family Life Academy Charter School, Series 2020A-1

.500

06/01/55

4,171,840

1,260,000

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

Family Life Academy Charter School, Series 2020C-1

.000

06/01/40

1,167,396

3,035,000

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

Family Life Academy Charter School, Series 2020C-1

.000

06/01/55

2,442,742

8,145,000

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

Icahn School of Medicine at Mount Sinai, Refunding Series

2015A

.000

07/01/40

8,144,390

100,000

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

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/34

99,945

300,000

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

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/36

291,498

1,415,000

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

School Districts Financing Program, Series 2025A

.000

10/01/37

1,583,499

770,000

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

School Districts Financing Program, Series 2025A

.000

10/01/38

853,567

1,000,000

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

School Districts Financing Program, Series 2025A

.000

10/01/40

1,090,052

1,520,000

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

White Plains Hospital, Series 2024

.250

10/01/49

1,534,259

7,395,000

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

Revenue Bonds, Series 2017A Group C

.000

03/15/41

7,515,189

8,535,000

Dutchess County Local Development Corporation, New York,

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

2016B

.000

07/01/41

8,018,406

405,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Refunding Series 2020B

.760

02/01/27

405,539

1,255,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Refunding Series 2020B

.570

02/01/41

1,201,258

1,365,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2017A

.240

02/01/47

1,341,588

1,000,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2020A

.530

02/01/40

963,878

455,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2021A

.050

02/01/31

442,131

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

885,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2021A

.450

%

02/01/41

$

748,652

1,560,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2021A

.600

02/01/51

1,194,629

6,500,000

Long Island Power Authority, New York, Electric System General

Revenue Bonds, Series 2016B

.000

09/01/41

6,529,963

11,000,000

(g) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020C-1, (UB)

.250

11/15/55

11,219,166

1,600,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024A-1

.550

11/01/44

1,600,717

2,350,000

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

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024A-1, (UB)

.750

11/01/54

2,370,661

3,040,000

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

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024B-1-A, (UB)

.650

11/01/49

3,055,230

1,585,000

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

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024B-1-A, (UB)

.750

11/01/54

1,607,027

750,000

New York City Housing Development Corporation, New York,

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

F Series 2024

.250

12/15/31

774,135

655,000

New York City Housing Development Corporation, New York,

Multi-Family Mortgage Revenue Bonds, 8 Spruce Street,

Taxable Class E Series 2024

.375

12/15/31

673,970

3,000,000

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

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.300

10/01/37

1,920,000

1,000,000

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

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.350

10/01/46

640,000

15,685,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2018 Series A-3

.000

08/01/41

16,000,568

1,455,000

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

2024 Series A

.000

08/01/41

1,553,794

2,570,000

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

2024 Series A

.000

08/01/42

2,725,662

1,250,000

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

2024 Series A

.000

08/01/43

1,319,895

3,480,000

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

2024 Series A

.000

08/01/45

3,644,076

4,590,000

(g) New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 258, (UB)

.450

10/01/44

4,549,688

5,505,000

(g) New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Social Series 258, (UB)

.600

10/01/49

5,411,757

4,675,000

(g) New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Social Series 258, (UB)

.650

10/01/54

4,665,358

8,005,000

New York State Urban Development Corporation, State Sales

Tax Revenue Bonds, Empire Bidding Group 4 Series 2023A

.000

03/15/42

8,529,084

9,570,000

New York State Urban Development Corporation, State Sales

Tax Revenue Bonds, Empire Bidding Group 4 Series 2023A

.000

03/15/44

10,067,161

8,120,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

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

.000

07/01/36

7,998,262

25,925,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/41

25,923,673

3,210,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/46

3,182,376

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

8,045,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.250

%

01/01/50

$

8,044,639

2,520,000

New York Transportation Development Corporation, New York,

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

Kennedy International Airport Project, Series 2020, (AMT)

.250

08/01/31

2,616,612

9,275,000

New York Transportation Development Corporation, New York,

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

Kennedy International Airport Project, Series 2020, (AMT)

.375

08/01/36

9,647,918

21,455,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

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

.500

06/30/54

21,827,744

2,000,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023,

(AMT)

.500

06/30/38

2,121,537

780,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023 -

AGM Insured, (AMT)

.500

06/30/42

811,138

3,220,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023,

(AMT)

.000

06/30/54

3,357,123

6,585,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023 -

AGM Insured, (AMT)

.125

06/30/60

6,591,519

12,640,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023,

(AMT)

.375

06/30/60

12,524,345

1,100,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2020C

.000

12/01/41

1,040,683

10,000,000

New York Transportation Development Corporation, Special

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

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

.000

01/01/32

10,278,644

14,690,000

New York Transportation Development Corporation, Special

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

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

.000

10/01/35

15,353,759

4,000,000

New York Transportation Development Corporation, Special

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

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

.000

10/01/40

4,043,548

6,200,000

New York Transportation Development Corporation, Special

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

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

.000

04/01/35

6,818,805

10,965,000

New York Transportation Development Corporation, Special

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

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

.625

04/01/40

11,463,103

2,140,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding

Senior Lien Green Climate Bond Certified Series 2023C

.250

11/15/39

2,391,637

7,340,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding

Senior Lien Green Climate Bond Certified Series 2023C

.250

11/15/40

8,155,628

10,000,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding

Senior Lien Green Climate Bond Certified Series 2023C

.000

11/15/41

10,721,875

6,465,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding

Senior Lien Green Climate Bond Certified Series 2023C

.250

11/15/42

7,058,389

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

2,050,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Refunding

Senior Lien Green Climate Bond Certified Series 2023C

.000

%

11/15/43

$

2,166,765

2,670,000

Triborough Bridge and Tunnel Authority, New York, Real Estate

Transfer Tax Revenue Bonds, MTA Bridges and Tunnels, TBTA

Capital Lockbox Fund, Series 2025A

.250

12/01/54

2,815,809

5,000,000

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

2006

.000

06/01/45

4,395,329

1,760,000

Westchester County Local Development Corporation, New

York, Revenue Bonds, Westchester Medical Center Obligated

Group Project, Series 2023

.250

11/01/52

1,764,071

TOTAL NEW YORK

331,654,808

NORTH CAROLINA - 0.0%

1,000,000

North Carolina Medical Care Commission, Retirement Facilities

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

2021

.000

09/01/46

822,195

TOTAL NORTH CAROLINA

822,195

NORTH DAKOTA - 0.4%

10,770,000

(g) North Dakota Housing Finance Agency, Home Mortgage

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

.550

07/01/44

10,747,785

4,000,000

North Dakota Housing Finance Agency, Home Mortgage

Program Revenue Bonds, Social Series 2024D

.500

07/01/44

3,966,737

TOTAL NORTH DAKOTA

14,714,522

OHIO - 1.0%

5,195,000

Allen County, Ohio, Hospital Facilities Revenue Bonds, Bon

Secours Mercy Health, Inc., Series 2020A

.000

12/01/40

5,024,570

15,000,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Capital Appreciation Series 2020B-3 Class 2

.000

06/01/57

1,406,841

1,860,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020B-2 Class 2

.000

06/01/55

1,589,867

3,770,000

Butler County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2016

.000

11/15/45

3,711,406

2,240,000

Cuyahoga County, Ohio, Hospital Revenue Bonds, MetroHealth

System, Series 2017

.000

02/15/52

2,081,350

2,625,000

Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2025A

.500

08/01/41

2,750,379

1,500,000

Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2025A

.500

08/01/42

1,555,496

1,475,000

Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2025A

.500

08/01/51

1,490,443

3,350,000

Montgomery County, Ohio, Health Care Facilities Revenue

Bonds, Solvita Project Refunding and Improvement Series 2024

.250

09/01/54

3,408,777

5,000,000

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

Facilities Revenue Bonds, AMG Vanadium Project, Series 2019,

(AMT)

.000

07/01/49

4,582,023

985,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A

.350

09/01/44

981,931

2,060,000

(g) Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A, (UB)

.650

09/01/54

2,039,794

3,750,000

Ohio State, Private Activity Bonds, Portsmouth Gateway Group,

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

Insured, (AMT)

.000

12/31/39

3,749,447

3,080,000

University of Cincinnati, Ohio, General Receipts Bonds, Series

2025A

.250

06/01/45

3,281,377

TOTAL OHIO

37,653,701

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA - 0.7%

$

1,470,000

Oklahoma City Airport Trust, Oklahoma, Revenue Bonds,

Junior Lien Thirty-Third Series 2018, (AMT)

.000

%

07/01/47

$

1,473,697

8,550,000

Oklahoma County, Oklahoma, Finance Authority, Educational

Facilities Lease Revenue Bonds, Choctaw-Nicoma Park Public

Schools Project, Series 2023

.000

09/01/41

8,987,963

14,595,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.500

08/15/52

14,646,913

1,280,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.500

08/15/57

1,282,827

TOTAL OKLAHOMA

26,391,400

OREGON - 0.2%

2,910,000

Astoria Hospital Facilities Authority, Oregon, Hospital Revenue

Bonds, Columbia Memorial Hospital Project, Series 2024

.250

08/01/54

2,908,473

175,000

Oregon Housing and Community Services Department,

Multifamily Housing Revenue Bonds, Refunding Series 2010A,

(AMT)

.150

07/01/42

177,510

4,100,000

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

Obligations, Series 2024A

.150

10/01/26

4,099,972

TOTAL OREGON

7,185,955

PENNSYLVANIA - 4.7%

315,000

Allegheny Country Industrial Development Authority,

Pennsylvania, Environmental Improvement Revenue Bonds,

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

.750

08/01/42

315,088

1,000,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.250

01/01/36

1,097,239

1,000,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.250

01/01/37

1,088,409

1,000,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.250

01/01/38

1,079,603

1,250,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.250

01/01/40

1,323,310

2,000,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.500

01/01/41

2,154,230

2,155,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, University of Pittsburgh Medical

Center, Series 2019A

.000

07/15/37

2,108,892

8,775,000

Bucks County Industrial Development Authority, Pennsylvania,

Hospital Revenue Bonds, Saint Luke's University Health

Network Project, Series 2021 - AGM Insured

.000

08/15/53

6,327,433

4,860,000

Central Bradford Progress Authority, Pennsylvania, Revenue

Bonds, Guthrie Health, Series 2021B - BAM Insured

.000

12/01/44

4,065,881

6,300,000

Central Bradford Progress Authority, Pennsylvania, Revenue

Bonds, Guthrie Health, Series 2021B - BAM Insured

.000

12/01/51

5,854,041

520,000

Cumberland County Municipal Authority, Pennsylvania,

Revenue Bonds, Diakon Lutheran Social Ministries Project,

Series 2015

.000

01/01/38

519,957

9,000,000

Geisinger Authority, Montour County, Pennsylvania, Health

System Revenue Bonds, Geisinger Health System, Series

2017A-2

.000

02/15/39

9,130,023

1,200,000

Lancaster Municipal Authority, Pennsylvania, Healthcare

Facilities Revenue Bonds, Garden Spot Village Project Series

2024A

.000

05/01/44

1,207,891

4,000,000

Montgomery County Higher Education and Health Authority,

Pennsylvania, Revenue Bonds, Thomas Jefferson University,

Series 2018A

.000

09/01/36

3,956,454

5,445,000

Montgomery County Higher Education and Health Authority,

Pennsylvania, Revenue Bonds, Thomas Jefferson University,

Series 2018A

.000

09/01/43

5,512,846

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

2,000,000

Montgomery County Higher Education and Health Authority,

Pennsylvania, Revenue Bonds, Thomas Jefferson University,

Series 2019

.000

%

09/01/37

$

1,953,835

8,750,000

Northampton County General Purpose Authority, Pennsylvania,

Hospital Revenue Bonds, Saint Luke's University Health

Network Project, Series 2016A

.000

08/15/34

8,774,782

2,410,000

(c),(e),(i)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2020A-1

.000

12/01/40

2,410,000

(c),(e),(i)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

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

.000

12/01/40

1,650,000

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, National Gypsum Company,

Refunding Series 2014, (AMT)

.500

11/01/44

1,650,355

1,000,000

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, PPL Energy Supply, LLC

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

.250

12/01/37

1,007,990

5,000,000

Pennsylvania Economic Development Financing Authority,

Pennsylvania, Private Activity Revenue Bonds, The PennDOT

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

.500

06/30/40

5,233,900

5,000,000

Pennsylvania Economic Development Financing Authority,

Pennsylvania, Private Activity Revenue Bonds, The PennDOT

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

.000

06/30/61

5,249,801

3,750,000

Pennsylvania Economic Development Financing Authority,

Private Activity Revenue Bonds, Pennsylvania Rapid Bridge

Replacement Project, Series 2015, (AMT)

.000

12/31/38

3,761,853

4,000,000

Pennsylvania Economic Development Financing Authority,

Revenue Bonds, University of Pittsburgh Medical Center, Series

2017A

.000

11/15/42

3,621,955

3,865,000

Pennsylvania Higher Educational Facilities Authority, Revenue

Bonds, LaSalle University, Series 2012

.000

05/01/37

2,994,603

7,130,000

(g),(j)

Pennsylvania Housing Finance Agency, Single Family Mortgage

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

.450

04/01/51

7,423,576

6,780,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

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

.450

10/01/44

6,720,478

2,730,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

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

.600

10/01/49

2,687,614

1,310,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

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

.650

10/01/51

1,290,451

4,545,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

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

.750

10/01/49

4,526,493

4,545,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

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

.800

10/01/55

4,563,961

15,000,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Subordinate Series 2009C - AGM Insured

.250

06/01/33

15,323,577

25,430,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Subordinate Series 2017B-1

.000

06/01/42

25,714,826

1,500,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Subordinate Series 2021A

.000

12/01/42

1,219,857

2,500,000

Philadelphia Authority for Industrial Development,

Pennsylvania, City Service Agreement Revenue Bonds, Series

2018

.000

05/01/36

2,607,287

2,250,000

Philadelphia Authority for Industrial Development,

Pennsylvania, City Service Agreement Revenue Bonds, Series

2018

.000

05/01/37

2,338,467

1,000,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, La Salle University, Series 2017

.000

05/01/42

612,423

2,230,000

(c) Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Mariana Bracetti Academy

Project, Series 2020A

.375

06/15/50

2,051,283

2,000,000

Philadelphia Hospitals and Higher Education Facilities

Authority, Pennsylvania, Hospital Revenue Bonds, Temple

University Health System Obligated Group, Series of 2017

.000

07/01/29

2,047,301

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

7,450,000

Philadelphia Hospitals and Higher Education Facilities

Authority, Pennsylvania, Hospital Revenue Bonds, Temple

University Health System Obligated Group, Series of 2017

.000

%

07/01/30

$

7,619,960

1,000,000

Philadelphia Hospitals and Higher Education Facilities

Authority, Pennsylvania, Hospital Revenue Bonds, Temple

University Health System Obligated Group, Series of 2017

.000

07/01/31

1,020,719

3,315,000

Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding

Series 2017B, (AMT)

.000

07/01/33

3,396,734

2,595,000

The Hospitals and Higher Education Facilities Authority of

Philadelphia, Pennsylvania, Hospital Revenue Bonds Temple

University Health System Obligated Group Series of 2017

.000

07/01/33

2,635,142

TOTAL PENNSYLVANIA

173,791,002

PUERTO RICO - 1.9%

2,000,000

(c) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/42

1,803,435

7,164,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.550

07/01/40

7,006,876

118,500,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/51

29,808,355

15,339,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/58

14,826,572

1,000,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

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

.550

07/01/40

978,068

14,500,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/37

13,774,450

5,000,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/41

4,482,393

TOTAL PUERTO RICO

72,680,149

SOUTH CAROLINA - 0.3%

1,485,000

South Carolina Jobs-Economic Development Authority, Health

Care Facilities Revenue Bonds, Novant Health Group, Series

2024A

.500

11/01/48

1,573,917

1,660,000

South Carolina Jobs-Economic Development Authority, Health

Care Facilities Revenue Bonds, Novant Health Group, Series

2024A

.500

11/01/49

1,756,502

3,650,000

South Carolina Jobs-Economic Development Authority, Health

Care Facilities Revenue Bonds, Novant Health Group, Series

2024A

.500

11/01/50

3,859,336

2,500,000

South Carolina Jobs-Economic Development Authority,

Hospital Revenue Bonds, McLeod Health Projects, Refunding &

Improvement Series 2018

.000

11/01/43

2,531,781

TOTAL SOUTH CAROLINA

9,721,536

SOUTH DAKOTA - 0.0%

400,000

South Dakota Health and Educational Facilities Authority,

Revenue Bonds, Sanford Health, Series 2015

.000

11/01/45

400,743

510,000

South Dakota Health and Educational Facilities Authority,

Revenue Bonds, Sanford Health, Series 2015

.000

11/01/45

511,125

TOTAL SOUTH DAKOTA

911,868

TENNESSEE - 2.5%

2,500,000

Bristol Industrial Development Board, Tennessee, Tax

Increment Revenue Bonds, Pinnacle Project, Series 2016

.625

06/01/35

2,215,328

4,000,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Health System Revenue Bonds, Erlanger Health

Series 2024

.250

12/01/49

4,167,974

510,000

DeKalb Utility District, DeKalb County, Tennessee, Waterworks

Revenue Bonds, Refunding Series 2017

.500

04/01/42

424,720

4,200,000

Greeneville Health and Educational Facilities Board, Tennessee,

Hospital Revenue Bonds, Ballad Health, Series 2018A

.000

07/01/36

4,304,905

4,755,000

Hendersonville Industrial Development Board, Tennessee,

Multifamily Housing Revenue Bonds, Hickory Pointe Poject,

Series 2010

.875

12/01/25

4,769,589

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TENNESSEE

(continued)

$

145,000

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

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

refunded 10/01/28)

.000

%

04/01/41

$

155,572

2,740,000

Jackson, Tennessee, Hospital Revenue Bonds, Jackson-

Madison County General Hospital Project, Series 2018A

.000

04/01/41

2,778,002

9,570,000

(h) Johnson City Health and Educational Facilities Board,

Tennessee, Hospital Revenue Refunding and Improvement

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

Insured, (ETM)

.250

07/01/28

9,873,839

2,000,000

Knox County Health, Educational and Housing Facilities Board,

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

Series 2017

.000

04/01/36

1,838,688

310,000

Knox County Health, Educational and Housing Facilities Board,

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

Series 2017

.000

04/01/36

312,400

2,955,000

Knox County Health, Educational and Housing Facility Board,

Tennessee, Hospital Revenue Bonds, Covenant Health,

Refunding Series 2016A

.000

01/01/36

3,004,518

14,000,000

Knox County Health, Educational and Housing Facility Board,

Tennessee, Hospital Revenue Bonds, Covenant Health,

Refunding Series 2016A

.000

01/01/42

14,099,537

100,000

(e) Memphis/Shelby County Economic Development Growth

Engine Industrial Development Board, Tennessee, Tax

Increment Revenue Bonds, Graceland Project, Senior Series

2017A

.750

07/01/27

93,682

2,930,000

Metropolitan Government of Nashville and Davidson County

Sports Authority, Tennessee, Revenue Bonds, Stadium Project,

Subordinate Senior Series 2023A - AGM Insured

.000

07/01/38

3,193,280

2,500,000

Metropolitan Government of Nashville and Davidson County

Sports Authority, Tennessee, Revenue Bonds, Stadium Project,

Subordinate Senior Series 2023A - AGM Insured

.000

07/01/39

2,703,593

1,320,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Belmont University, Series 2023

.000

05/01/42

1,370,786

2,000,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Belmont University, Series 2023

.000

05/01/43

2,062,918

515,000

(c) Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Rocketship Education Project, Series 2017E

.375

06/01/52

473,146

3,965,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University Medical Center, Series 2016A

.000

07/01/40

3,982,372

385,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University Medical Center, Series 2017A

.000

07/01/48

385,367

10,805,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University, Series 2023A

.000

07/01/28

11,434,667

11,625,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University, Series 2023A

.000

07/01/33

13,049,391

360,000

(c) Nashville Metropolitan Development and Housing Agency,

Tennessee, Tax increment Bonds, Fifth & Broadway

Development Project, Series 2018

.500

06/01/28

364,290

2,100,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006B

.625

09/01/26

2,133,707

5,090,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006C

.000

02/01/27

5,186,122

500,000

West Knox Utility District of Knox County, Tennessee, Water

and Sewer Revenue Bonds, Refunding & Improvement Series

2016

.000

06/01/41

500,139

TOTAL TENNESSEE

94,878,532

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS - 7.8%

$

4,665,000

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

.000

%

09/01/40

$

5,164,836

2,540,000

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

.000

09/01/41

2,782,784

4,500,000

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

.000

09/01/42

4,881,375

3,500,000

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

.000

09/01/43

3,770,491

3,115,000

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

.000

09/01/45

3,329,812

2,250,000

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

Improvement Series 2025

.000

09/01/42

2,440,688

2,500,000

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

Improvement Series 2025

.000

09/01/44

2,679,747

2,500,000

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

Improvement Series 2025

.000

09/01/45

2,672,401

400,000

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

Public improvement District Improvement Area 1 Project,

Series 2025

.000

09/01/55

387,961

1,700,000

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

Public improvement District Major Improvement Area Project,

Series 2025

.625

09/01/45

1,673,019

3,600,000

Central Texas Regional Mobility Authority, Revenue Bonds,

Senior Lien Series 2020E

.000

01/01/45

3,656,955

8,275,000

Chambers County Justice Center Public Facilities Corporation,

Texas, Lease Revenue Bonds, Series 2024

.500

06/01/49

8,779,222

10,275,000

Chambers County Justice Center Public Facilities Corporation,

Texas, Lease Revenue Bonds, Series 2024

.500

06/01/55

10,836,697

5,500,000

Clifton Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Uplift Education Charter School,

Series 2014A

.250

12/01/34

5,500,445

300,000

(c) Clifton Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Valor Education Foundation, Series

2024A

.750

06/15/44

281,513

1,000,000

(c) Denton County, Texas, Special Assessment Revenue

Bonds, Green Meadows Public Improvement District Major

Improvement Area Project, Series 2025

.875

12/31/45

1,019,752

700,000

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

Green Meadows Public Improvement District, Improvement

Area 1 Project, Series 2025

.625

12/31/55

714,235

7,055,000

DeSoto Independent School District, Dallas County, Texas,

General Obligation Bonds, School Building Series 2025

.000

08/15/38

7,787,142

7,220,000

DeSoto Independent School District, Dallas County, Texas,

General Obligation Bonds, School Building Series 2025

.000

08/15/39

7,906,207

8,555,000

DeSoto Independent School District, Dallas County, Texas,

General Obligation Bonds, School Building Series 2025

.000

08/15/42

9,127,582

2,970,000

Elgin, Bastrop and Travis Counties, Texas, Certificates of

Participation, Combination Tax Tax Increment Reinvestment

Zone 1, Subordinate Lien Series 2021A - BAM Insured

.000

07/15/40

2,898,761

2,000,000

Fort Bend County Industrial Development Corporation, Texas,

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

.750

11/01/42

1,977,750

795,000

Galveston, Texas, Wharves and Terminal First Lien Revenue

Bonds, Series 2023, (AMT)

.250

08/01/33

874,960

1,185,000

Galveston, Texas, Wharves and Terminal First Lien Revenue

Bonds, Series 2023, (AMT)

.000

08/01/35

1,265,012

1,000,000

Galveston, Texas, Wharves and Terminal First Lien Revenue

Bonds, Series 2023, (AMT)

.250

08/01/37

1,065,785

795,000

Galveston, Texas, Wharves and Terminal First Lien Revenue

Bonds, Series 2023, (AMT)

.250

08/01/38

840,195

700,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.500

02/15/37

820,953

445,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.500

02/15/38

516,643

1,775,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/15/39

1,965,344

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,900,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

%

02/15/40

$

2,075,348

2,500,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/15/41

2,703,506

2,350,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/15/42

2,517,308

3,000,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/15/43

3,192,469

2,385,000

Georgetown Independent School District, Williamson County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/15/44

2,524,011

10,000,000

Greater Texas Cultural Educational Facilities Finance

Corporation, Texas, Revenue Bonds, Biomedical Research

Institute Series 2024A

.250

06/01/54

9,204,927

1,310,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/39

1,434,675

2,600,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/40

2,814,528

2,660,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/41

2,851,586

2,705,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/42

2,875,993

2,250,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/44

2,365,546

2,000,000

Gregory-Portland Independent School District, San Patricio

County, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/45

2,096,548

8,585,000

Harris County Cultural Education Facilities Finance

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

Christian Association of the Greater Houston Area, Series

2013A

.000

06/01/33

8,372,453

2,500,000

Houston, Texas, Airport System Revenue Bonds, Refunding

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

.250

07/01/39

2,713,585

2,255,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/36

2,451,410

1,340,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/37

1,447,653

1,150,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/38

1,234,706

1,220,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/39

1,300,370

2,560,000

Houston, Texas, Hotel Occupancy Tax and Special Revenue

Bonds, Convention and Entertainment Facilities Department,

Refunding Series 2014

.000

09/01/32

2,563,698

335,000

Houston, Texas, Hotel Occupancy Tax and Special Revenue

Bonds, Convention and Entertainment Facilities Department,

Refunding Series 2014

.000

09/01/34

335,445

1,360,000

Kerrville Health Facilities Development Corporation, Texas,

Revenue Bonds, Sid Peterson Memorial Hospital Project, Series

2015

.000

08/15/30

1,363,191

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,280,000

Kerrville Health Facilities Development Corporation, Texas,

Revenue Bonds, Sid Peterson Memorial Hospital Project, Series

2015

.000

%

08/15/35

$

1,282,989

3,300,000

Love Field Airport Modernization Corporation, Texas, Special

Facilities Revenue Bonds, Southwest Airlines Company - Love

Field Modernization Program Project, Series 2012, (AMT)

.000

11/01/28

3,301,419

665,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Legacy at Willow

Bend Project, Series 2016

.000

11/01/46

526,303

805,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Legacy at Willow

Bend Project, Series 2016

.000

11/01/51

612,275

570,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Legacy Midtown

Park Project, Series 2018A

.500

07/01/54

468,266

760,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Wesleyan Homes,

Inc. Project, Series 2014

.500

01/01/43

739,112

6,625,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, CHF-Collegiate

Housing Foundation - College Station I LLC - Texas A&M

University Project, Series 2014A - AGM Insured

.100

04/01/34

6,625,965

10,000,000

(e) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, NCCD - College

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

2015A

.000

07/01/47

9,285,083

10,880,000

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

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

refunded 9/01/31)

.750

09/01/45

13,233,542

2,000,000

Pflugerville, Travis and Williamson Counties, Texas, Certificates

of Obligation, Combination Tax and Revenue Limited Series

2023

.000

08/01/43

2,116,780

1,500,000

Pflugerville, Travis and Williamson Counties, Texas, Certificates

of Obligation, Combination Tax and Revenue Limited Series

2023

.000

08/01/44

1,578,035

7,205,000

Pflugerville, Travis and Williamson Counties, Texas, Certificates

of Obligation, Combination Tax and Revenue Limited Series

2023

.250

08/01/55

7,587,740

1,000,000

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

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.125

09/15/45

1,024,097

620,000

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

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.125

09/15/55

633,347

1,000,000

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

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2024A, (AMT)

.125

01/01/44

965,245

555,000

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

Winchester Crossing Public Improvement District 3 Project,

Series 2024

.125

09/01/44

526,782

535,000

Reagan Hospital District of Reagan County, Texas, Limited Tax

Revenue Bonds, Series 2014A

.000

02/01/29

535,167

1,805,000

Reagan Hospital District of Reagan County, Texas, Limited Tax

Revenue Bonds, Series 2014A

.000

02/01/34

1,804,912

385,000

Reagan Hospital District of Reagan County, Texas, Limited Tax

Revenue Bonds, Series 2014A

.125

02/01/39

375,447

645,000

SA Energy Acquisition Public Facilities Corporation, Texas, Gas

Supply Revenue Bonds, Series 2007

.500

08/01/27

667,510

500,000

San Antonio Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding School Building Series

2025

.000

08/15/39

552,401

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

4,000,000

San Antonio Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding School Building Series

2025

.000

%

08/15/40

$

4,375,083

2,395,000

San Antonio Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding School Building Series

2025

.000

08/15/41

2,592,380

4,450,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.000

08/15/40

4,894,155

4,230,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.250

08/15/42

4,680,217

3,825,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.250

08/15/43

4,203,273

6,760,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.250

08/15/45

7,354,560

3,000,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2016A

.000

02/15/41

3,023,032

10,000,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025A

.000

11/15/37

11,082,607

4,520,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025A

.000

11/15/38

4,971,234

3,900,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025A

.000

11/15/39

4,259,565

4,900,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025A

.000

11/15/40

5,313,394

1,750,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.375

06/30/37

1,853,480

1,360,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.375

06/30/39

1,428,837

1,000,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.500

06/30/40

1,049,621

580,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.500

06/30/43

598,504

5,000,000

Texas Private Activity Bond Surface Transporation Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

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

.000

06/30/58

4,917,853

1,680,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

12/31/37

1,637,870

1,750,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/38

1,693,102

1,300,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/39

1,240,490

1,500,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

12/31/39

1,421,171

3,690,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/40

3,458,842

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

5,000,000

Waco, Texas, Certificates of Obligation, Combination Tax &

Revenue Series 2024A

.000

%

02/01/49

$

5,234,658

TOTAL TEXAS

291,783,568

UTAH - 1.3%

500,000

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

Assessment Bonds, Arrowhead Springs Assessment Area,

Series 2025

.625

12/01/54

500,280

740,000

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

Utah, Special Assessment Bonds, Black Desert Assessment

Area 1, Series 2024

.625

12/01/53

741,988

1,000,000

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

Subordinate Tax Allocation Revenue Bonds, Series 2024-2

.500

06/15/39

1,011,666

3,500,000

Military Installation Development Authority, Utah, Tax

Allocation Revenue Bonds Series 2021A-2

.000

06/01/41

3,104,841

2,600,000

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

General Obligation Bonds, Series 2021A

.375

02/01/51

2,009,372

19,115,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2017A, (AMT)

.000

07/01/42

19,180,929

13,165,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2018A, (AMT)

.000

07/01/37

13,484,337

1,700,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.250

07/01/41

1,791,433

1,750,000

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

Series 2024C, (UB)

.450

01/01/44

1,734,970

3,365,000

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

Series 2024C, (UB)

.650

01/01/49

3,333,905

635,000

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

Series 2024C, (UB)

.700

01/01/54

635,906

1,000,000

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

Assessment Bonds, Wakara Ridge Assessment Area, Series

2025

.625

12/01/54

1,013,591

TOTAL UTAH

48,543,218

VIRGIN ISLANDS - 0.1%

1,100,000

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

Frenchman's Reef Hotel Development Hotel Occupancy Series

2024A

.000

04/01/53

1,119,948

1,000,000

Virgin Islands Transportation & Infrastructure Corporation,

Virgin Islands, Grant Anticipation Revenue Bonds, Federal

Highway Grant Anticipation Revenue Loan Note, Series 2025

.000

09/01/29

1,060,003

1,655,000

Virgin Islands Transportation & Infrastructure Corporation,

Virgin Islands, Grant Anticipation Revenue Bonds, Federal

Highway Grant Anticipation Revenue Loan Note, Series 2025

.000

09/01/31

1,791,055

1,250,000

Virgin Islands Transportation & Infrastructure Corporation,

Virgin Islands, Grant Anticipation Revenue Bonds, Federal

Highway Grant Anticipation Revenue Loan Note, Series 2025

.000

09/01/44

1,291,494

TOTAL VIRGIN ISLANDS

5,262,500

VIRGINIA - 1.6%

6,000,000

Roanoke Economic Development Authority, Virginia, Hospital

Revenue Bonds, Carilion Clinic Obligated Group, Series

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

.000

07/01/53

6,513,143

4,010,000

Tobacco Settlement Financing Corporation of Virginia, Tobacco

Settlement Asset Backed Bonds, Series 2007B1

.000

06/01/47

3,414,806

5,000,000

Virginia College Building Authority, Educational Facilities

Revenue Bonds, 21st Century College & Equipment Programs,

Series 2022A

.000

02/01/40

5,368,790

10,000,000

(g) Virginia Housing Development Authority, Rental Housing

Bonds, Series 2024A, (UB)

.450

09/01/44

10,036,146

2,070,000

Virginia Port Authority, Commonwealth Port Fund Revenue

Bonds, Series 2023A

.000

07/01/42

2,211,406

2,000,000

(c) Virginia Small Business Finance Authority, Educational Facilities

Revenue Bonds, Provident Resource Group - Rixey Student

Housing Project, Series 2019A

.500

07/01/49

1,609,780

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VIRGINIA

(continued)

$

3,500,000

Virginia Small Business Finance Authority, Healthcare Facilities

Revenue Bonds, Mary Washington Healthcare, Refunding

Series 2025A-1

.250

%

06/15/50

$

3,643,887

2,600,000

Virginia Small Business Finance Authority, Healthcare Facilities

Revenue Bonds, Mary Washington Healthcare, Refunding

Series 2025A-1

.250

06/15/55

2,689,670

2,180,000

Virginia Small Business Financing Authority, Private Activity

Revenue Bonds, Transform 66 P3 Project, Senior Lien Series

2017, (AMT)

.000

12/31/47

2,151,549

13,250,000

Virginia Small Business Financing Authority, Private Activity

Revenue Bonds, Transform 66 P3 Project, Senior Lien Series

2017, (AMT)

.000

12/31/52

12,936,627

4,060,000

Virginia Small Business Financing Authority, Revenue Bonds,

National Senior Campuses Inc Obligated Group, Series 2020A

.000

01/01/40

3,864,887

5,695,000

Virginia Small Business Financing Authority, Revenue Bonds,

National Senior Campuses Inc Obligated Group, Series 2020A

.000

01/01/45

5,044,797

TOTAL VIRGINIA

59,485,488

WASHINGTON - 2.5%

5,500,000

King County Public Hospital District 4, Washington, General

Obligation Bonds, Snoqualmie Valley Hospital, Refunding

Limited Tax Series 2015A

.000

12/01/38

5,499,259

4,735,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

06/01/43

4,918,054

4,795,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

06/01/44

4,963,496

5,510,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

06/01/45

5,693,842

3,320,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

06/01/46

3,430,743

5,590,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2017C, (AMT)

.000

05/01/30

5,742,314

4,000,000

Skagit County Public Hospital District 1, Washington, Revenue

Bonds, Skagit Valley Hospital, Refunding & Improvement Series

2016

.000

12/01/32

4,048,752

1,120,000

Skagit County Public Hospital District 1, Washington, Revenue

Bonds, Skagit Valley Hospital, Refunding & Improvement Series

2016

.000

12/01/37

1,124,926

1,400,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/40

1,550,633

1,700,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/41

1,858,366

2,000,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/42

2,164,273

1,150,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/43

1,235,725

1,100,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/44

1,175,035

1,500,000

Snohomish County Public Utility District 1, Washington, Electric

System Revenue Bonds, Refunding Series 2025A

.000

12/01/45

1,596,566

3,630,000

Washington Health Care Facilities Authority, Revenue Bonds,

CommonSpirit Health, Series 2019A-1

.000

08/01/44

3,243,160

2,960,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Health & Services, Series 2014D

.000

10/01/41

2,961,104

3,090,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/33

3,148,004

3,470,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/34

3,527,571

2,695,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/35

2,728,160

1,155,000

(c) Washington State Housing Finance Commission, Nonprofit

Refunding Revenue Bonds, Wesley Homes at Lea Hill Project,

Series 2016

.000

07/01/41

1,057,661

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WASHINGTON

(continued)

$

2,000,000

(c) Washington State Housing Finance Commission, Nonprofit

Refunding Revenue Bonds, Wesley Homes at Lea Hill Project,

Series 2016

.000

%

07/01/46

$

1,720,944

3,805,000

(c) Washington State Housing Finance Commission, Nonprofit

Refunding Revenue Bonds, Wesley Homes at Lea Hill Project,

Series 2016

.000

07/01/51

3,159,395

2,240,000

Washington State Housing Finance Commission, Revenue

Bonds, Riverview Retirement Community, Refunding Series

2012

.000

01/01/48

2,036,988

13,951,157

Washington State Housing Finance Commission, Social

Municipal Certificates Multifamily Revenue Bonds, Series 2023-

1 Class A

.375

04/20/37

12,971,682

4,540,000

Washington State, General Obligation Bonds, Various Purpose

Series 2022A

.000

08/01/44

4,745,324

6,635,000

Washington State, General Obligation Bonds, Various Purpose

Series 2023A

.000

08/01/43

6,990,966

TOTAL WASHINGTON

93,292,943

WEST VIRGINIA - 0.2%

550,000

(c) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

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

.450

01/01/55

573,987

1,500,000

West Virginia Hospital Finance Authority, Hospital Revenue

Bonds, Charleston Area Medical Center, Refunding &

Improvement Series 2019A

.000

09/01/31

1,581,563

1,800,000

West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System, Improvement Series 2023A

.000

06/01/38

1,944,579

1,000,000

West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System, Improvement Series 2023A

.000

06/01/39

1,071,139

1,715,000

West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System, Improvement Series 2023A

.000

06/01/41

1,806,983

TOTAL WEST VIRGINIA

6,978,251

WISCONSIN - 4.4%

1,745,000

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

Bonds, Cornerstone Charter Academy, North Carolina, Series

2016A

.000

02/01/36

1,748,355

815,000

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

Bonds, Eno River Academy Project, Series 2020A

.000

06/15/40

796,459

200,000

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

Bonds, Founders Academy of Las Vegas, Series 2020A

.000

07/01/55

169,934

720,000

(c),(h)

Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North Carolina Charter Educational Foundation Project,

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

.000

06/15/46

731,080

1,430,000

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

Bonds, North Carolina Charter Educational Foundation Project,

Series 2016A

.000

06/15/46

1,123,288

1,100,000

Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North East Carolina Preparatory School Project,

Refunding Series 2024A

.250

06/15/54

1,091,355

10,952

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/47

9,573

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/48

9,420

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/49

9,114

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/50

8,961

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/51

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

11,641

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

%

01/01/52

$

11,488

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/53

11,105

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/54

10,876

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/55

10,646

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/56

579,414

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.500

07/01/56

421,562

11,795

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/57

11,488

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/58

11,182

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/59

10,952

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/60

10,799

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/61

10,493

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/62

10,263

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/63

10,033

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/64

9,880

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/65

10,646

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/66

128,214

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/67

1,066

26,928

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/46

903

26,549

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/47

819

26,359

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/48

764

26,169

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/49

710

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

25,790

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

%

01/01/50

$

646

28,255

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/51

666

714,815

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.750

07/01/51

486,425

28,066

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/52

612

27,687

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/53

569

27,497

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/54

529

27,118

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/55

26,738

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/56

26,549

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/57

26,169

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/58

25,980

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/59

25,790

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/60

25,411

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/61

25,221

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/62

24,842

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/63

24,652

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/64

24,463

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/65

24,083

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/66

313,660

(c),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/67

2,608

2,000,000

(c) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Bonnie Cone Classical Academy, Series 2024

.625

06/15/54

1,697,798

5,730,000

(c) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Bonnie Cone Classical Academy, Series 2024

.625

06/15/59

4,749,236

1,650,000

(c) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Carolina International School, Series 2013A

.000

08/01/43

1,651,206

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

#### All-American

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

2,000,000

Public Finance Authority of Wisconsin, Educational Facility

Revenue Bonds, Cornerstone Charter Academy Series 2024

.000

%

02/01/64

$

1,888,388

3,845,000

Public Finance Authority of Wisconsin, Exempt Facilities

Revenue Bonds, National Gypsum Company Project, Refunding

Series 2016, (AMT)

.000

08/01/35

3,718,493

14,000,000

(c) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream Meadowlands Project,

Series 2017

.750

12/01/42

11,200,000

5,000,000

Public Finance Authority of Wisconsin, Pollution Control

Revenue Bonds, Duke Energy Progress Project, Refunding

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

.000

10/01/46

5,151,941

2,735,000

(c),(e)

Public Finance Authority of Wisconsin, Revenue Bonds,

Alabama Gulf Coast Zoo, Series 2018A

.500

09/01/48

1,641,000

2,750,000

Public Finance Authority of Wisconsin, Revenue Bonds, Sky

Harbour LLC Obligated Group Aviation Facilities Project, Series

2021, (AMT)

.250

07/01/54

2,289,665

1,360,000

(c),(e)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.250

01/01/38

612,000

4,065,000

(c),(e)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.375

01/01/48

1,829,250

1,000,000

(c),(e)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018B-2

.000

01/01/49

500

4,300,000

Public Finance Authority of Wisconsin, Solid Waste Disposal

Revenue Bonds, Waste Management Inc., Refunding Series

2016A-2

.875

05/01/27

4,246,594

10,050,000

(c) Public Finance Authority, Wisconsin, Educational Revenue

Bonds, Lake Norman Charter School, Series 2018A

.000

06/15/38

10,049,366

3,360,000

(c) Public Finance Authority, Wisconsin, Educational Revenue

Bonds, Lake Norman Charter School, Series 2018A

.000

06/15/48

3,255,875

2,900,000

Public Finance Authority, Wisconsin, Educational Revenue

Bonds, Lake Norman Charter School, Series 2024A

.000

06/15/64

2,755,801

7,000,000

Public Finance Authority, Wisconsin, Exempt Facilities Revenue

Bonds, Celanese Project, Refunding Series 2016C

.300

11/01/30

7,009,084

3,525,000

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

Senior Bonds, World Center Project Series 2024A

.000

06/01/41

3,547,658

1,465,000

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

Subordinate Bonds, World Center Project Series 2024B

.000

06/15/42

1,476,587

15,000,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

06/30/60

15,434,488

11,155,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

12/31/65

11,478,115

6,495,000

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

Supported by State Moral Obligation Junior Series 2020D,

(Pre-refunded 12/15/30)

.000

12/15/60

1,694,601

27,005,000

Wisconsin Center District, Dedicated Tax Revenue Bonds,

Supported by State Moral Obligation Junior Series 2020D -

AGM Insured

.000

12/15/60

4,806,669

18,000,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Mercy Alliance, Inc., Series 2012

.000

06/01/32

18,043,461

7,500,000

Wisconsin Health and Educational Facilities Authority,

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

Inc., Series 2017

.000

08/15/42

7,098,233

650,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Dickson Hollow Phase 2 Project,

Series 2024

.450

10/01/39

668,400

1,880,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Dickson Hollow Project. Series

2014

.250

10/01/39

1,879,973

1,000,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Dickson Hollow Project. Series

2014

.375

10/01/44

967,152

3,500,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Dickson Hollow Project. Series

2014

.500

10/01/49

3,352,335

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

6,000,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Froedtert Health, Inc. Obligated

Group, Series 2017A

.000

%

04/01/39

$

5,813,098

2,980,000

Wisconsin Health and Educational Facilities Authority,

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

Series 2014A

.000

07/01/34

2,981,238

2,100,000

Wisconsin Health and Educational Facilities Authority,

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

Series 2014A

.350

07/01/36

2,086,251

5,000,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Woodland Hills Senior Housing

Project, Series 2014

.000

12/01/34

4,926,858

4,435,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Woodland Hills Senior Housing

Project, Series 2014

.000

12/01/44

3,777,612

4,225,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Woodland Hills Senior Housing

Project, Series 2014

.250

12/01/49

3,606,315

TOTAL WISCONSIN

163,971,441

TOTAL MUNICIPAL BONDS

(Cost $3,781,235,754)

3,774,212,377

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VARIABLE RATE SENIOR LOAN INTERESTS - 0.0%

CAPITAL GOODS - 0.0%

321,690

(e),(i)

KDC Agribusiness Fairless Hills LLC

.000

09/17/26

TOTAL CAPITAL GOODS

TOTAL VARIABLE RATE SENIOR LOAN INTERESTS

(Cost $321,690)

TOTAL LONG-TERM INVESTMENTS

(Cost $3,799,235,194)

3,791,663,409

BORROWINGS - (0.4)% (k)

(13,130,119)

FLOATING RATE OBLIGATIONS - (3.3)%

(122,385,000)

OTHER ASSETS & LIABILITIES, NET - 1.9%

68,083,095

NET ASSETS - 100%

$

3,724,231,385

AMT

Alternative Minimum Tax

ETF

Exchange-Traded Fund

ETM

Escrowed to maturity

UB

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

unless otherwise noted.

(a) Affiliated holding

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

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

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

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

(d) When-issued or delayed delivery security.

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

bankruptcy.

(f) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding.

The rate shown is the coupon as of the end of the fiscal period.

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

and/or inverse floating rate transactions.

(h) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely

payment of principal and interest.

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

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

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

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

#### Portfolio of Investments September 30, 2025

#### Intermediate Duration
See Notes To Financial Statements

(Unaudited)

SHARES

DESCRIPTION

VALUE

LONG-TERM INVESTMENTS - 97.5%

8,725,500

EXCHANGE-TRADED FUNDS - 0.1%

8,725,500

350,000

(a),(b)

Nuveen Municipal Income ETF

$

8,725,500

TOTAL EXCHANGE-TRADED FUNDS

(Cost $8,602,500)

8,725,500

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MORTGAGE-BACKED SECURITIES - 0.5%

–

$

3,487,513

(c),(d)

Federal Home Loan Mortgage Corporation, Multifamily

Variable Rate Certificates Guaranteed Structured Pass Through

Class A Series 2024ML-023, Series 2024 ML23

.700

%

04/25/42

3,536,707

13,002,545

Federal Home Loan Mortgage Corporation, Notes, Series 2023

23-ML15

.140

01/25/40

12,778,445

4,589,318

Federal Home Loan Mortgage Corporation, Notes, Series 2022

M068

.150

10/15/36

4,082,497

4,956,884

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

2021, Series 2021 21-ML08

.877

07/25/37

4,033,656

7,857,921

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

2021, Series 2021 ML10

.032

01/25/38

6,358,522

4,702,517

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

A-US, Series 2024, Series 2024 ML22

.685

10/25/40

4,830,550

4,414,295

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

.783

07/25/42

4,550,514

TOTAL MORTGAGE-BACKED SECURITIES

(Cost $43,664,964)

40,170,891

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

7984295569

MUNICIPAL BONDS - 96.9%

7984295569

ALABAMA - 2.5%

1,860,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2024B

.250

10/01/39

1,871,333

3,530,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2024B

.550

10/01/44

3,536,808

1,360,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2024C

.450

10/01/44

1,348,060

4,175,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2024D

.300

10/01/44

4,095,601

1,500,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2025B

.800

10/01/40

1,546,309

7,630,000

Alabama State Port Authority, Docks Facilities Revenue Bonds,

Refunding Series 2017A - AGM Insured, (AMT)

.000

10/01/31

7,855,019

5,080,000

Birmingham-Jefferson Civic Center Authority, Alabama, Special

Tax Bonds, Series 2018A

.000

07/01/37

5,094,658

2,880,000

Birmingham-Jefferson Civic Center Authority, Alabama, Special

Tax Bonds, Series 2018B

.000

07/01/37

2,957,408

3,765,000

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

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

(Mandatory Put 12/01/25)

.000

12/01/49

3,777,704

6,815,000

Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

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

.000

12/01/52

6,969,135

3,000,000

Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

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

.500

11/01/53

3,200,551

4,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

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

.500

10/01/54

4,425,281

2,725,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

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

.000

05/01/55

2,958,974

12,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

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

.250

05/01/56

12,488,863

9,900,000

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

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

.000

12/01/55

10,850,823

4,930,000

Black Belt Energy Gas District, Alabama, Gas Supply Revenue

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

.000

07/01/52

5,017,907

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ALABAMA

(continued)

$

5,000,000

Black Belt Energy Gas District, Alabama, Gas Supply Revenue

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

.250

%

12/01/53

$

5,447,387

1,045,000

Chatom Industrial Development Board, Alabama, Gulf

Opportunity Zone Revenue Bonds, PowerSouth Energy

Cooperative, Refunding Series 2020 - AGM Insured

.000

08/01/26

1,062,123

1,000,000

Chatom Industrial Development Board, Alabama, Gulf

Opportunity Zone Revenue Bonds, PowerSouth Energy

Cooperative, Refunding Series 2020 - AGM Insured

.000

08/01/28

1,057,726

1,000,000

Chatom Industrial Development Board, Alabama, Gulf

Opportunity Zone Revenue Bonds, PowerSouth Energy

Cooperative, Refunding Series 2020 - AGM Insured

.000

08/01/30

1,092,094

5,915,000

Lower Alabama Gas District, Alabama, Goldman Sachs Gas

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

12/01/25)

.000

12/01/50

5,927,212

2,540,000

Mobile County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC

Project, Series 2024B, (AMT)

.750

12/01/54

2,351,281

2,235,000

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

Facility Revenue Bonds, Jackson Hospital & Clinic, Series 2015

.000

09/01/25

670,500

1,725,000

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

Facility Revenue Bonds, Jackson Hospital & Clinic, Series 2015

.000

03/01/26

517,500

2,060,000

Selma Industrial Development Board, Alabama, Gulf

Opportunity Zone Revenue Bonds, International Paper

Company Project, Refunding Series 2019A, (Mandatory Put

10/01/31)

.450

11/01/33

2,072,845

5,675,000

Southeast Alabama Gas Supply District, Alabama, Gas Supply

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

Put 4/01/32)

.000

08/01/54

6,151,167

1,000,000

Southeast Alabama Gas Supply District, Alabama, Gas Supply

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

Put 5/01/32)

.000

06/01/49

1,084,732

10,000,000

Southeast Energy Authority, Alabama, A Cooperative District

Energy Supply Revenue Bonds Series 2024A

.000

11/01/35

10,548,766

10,000,000

Southeast Energy Authority, Alabama, Commodity Supply

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

12/01/31)

.000

12/01/51

10,252,143

1,820,000

Southeast Energy Authority, Alabama, Commodity Supply

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

(Mandatory Put 12/01/29)

.500

01/01/53

1,977,109

15,010,000

Southeast Energy Authority, Alabama, Commodity Supply

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

8/01/28)

.000

05/01/53

15,754,601

4,025,000

Southeast Energy Authority, Alabama, Energy Supply Revenue

Bonds, Cooperative District Series 2025C, (Mandatory Put

2/01/31)

.000

05/01/55

4,348,691

21,395,000

Southeast Energy Authority, Alabama, Revenue Bonds

Cooperative District Energy Supply Series 2024C, (Mandatory

Put 11/01/32)

.000

10/01/55

23,350,991

6,075,000

Southeast Energy Authority, Alabama, Revenue Bonds, A

Cooperative District Energy Supply Series 2025D

.000

09/01/35

6,691,060

5,345,000

Southeast Energy Authority, Alabama, Revenue Bonds,

Cooperative District Energy Supply Series 2025A, (Mandatory

Put 6/01/35)

.000

01/01/56

5,647,236

3,500,000

Southeast Energy Authority, Alabama, Revenue Bonds,

Cooperative District Energy Supply Series 2025B, (Mandatory

Put 1/01/33)

.250

03/01/55

3,743,647

4,250,000

(d) Tuscaloosa County Industrial Development Authority,

Alabama, Gulf Opportunity Zone Bonds, Hunt Refining Project,

Refunding Series 2019A

.250

05/01/44

4,239,803

10,000,000

West Jefferson, Alabama, Industrial Development Board

Pollution Control Revenue Bonds, Alabama Power Company,

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

.650

06/01/28

10,185,165

TOTAL ALABAMA

202,168,213

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ALASKA - 0.2%

$

5,015,000

Alaska Housing Finance Corporation, Collateralized Mortgage

Bonds, Veterans Mortgage Program, 2024 First Series

.000

%

12/01/41

$

4,908,688

4,000,000

Alaska Housing Finance Corporation, General Obligation

Bonds, State Capital Project II, Series 2024A

.000

12/01/39

4,307,162

1,900,000

Alaska Housing Finance Corporation, Mortgage Revenue

Bonds, General Series 2022A-II

.350

12/01/39

1,544,439

1,575,000

Northern Tobacco Securitization Corporation, Alaska, Tobacco

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

.000

06/01/28

1,652,196

TOTAL ALASKA

12,412,485

ARIZONA - 1.1%

1,030,000

Arizona Board of Regents, Univeristy of Arizona, SPEED

Revenue Bonds, Stimulus Plan for Economic and Educational

Development, Series 2020C. Forward Delivery

.000

08/01/26

1,050,990

3,000,000

Arizona Industrial Development Authority, Single Family

Mortgage Revenue Bonds, Series 2024A

.500

04/01/44

2,976,727

1,140,000

Arizona Industrial Development Authority, Single Family

Mortgage Revenue Bonds, Series 2025A

.000

10/01/45

1,169,130

16,915,000

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

2019A, (ETM)

.000

10/01/27

17,799,817

2,330,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

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

.100

12/01/37

2,345,003

2,010,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

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

.000

06/01/49

2,052,685

22,840,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

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

.000

09/01/52

23,231,308

775,000

Glendale Industrial Development Authority, Arizona, Revenue

Bonds, Midwestern University, Refunding Series 2020

.000

05/15/26

780,980

1,000,000

Glendale Union High School District 205, Maricopa County,

Arizona, General Obligation Bonds, School Improvement,

Project 2024, Series 2024A

.000

07/01/42

1,068,463

1,875,000

Maricopa County and Phoenix City Industrial Development

Authority, Arizona, Single Family Mortgage Revenue Bonds,

Series 2024C

.625

09/01/44

1,897,249

890,000

(d) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Legacy Traditional Schools Projects,

Series 2021A

.000

07/01/41

783,799

1,950,000

(d) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Legacy Traditional Schools Projects,

Taxable Series 2019B

.000

07/01/39

1,967,880

460,000

Maricopa County Industrial Development Authority, Arizona,

Hospital Revenue Bonds, HonorHealth, Series 2021A

.000

09/01/27

480,356

2,080,000

Maricopa County Pollution Control Corporation, Arizona,

Pollution Control Revenue Bonds, El Paso Electric Company,

Refunding Series 2009A

.600

02/01/40

1,878,381

1,500,000

Maricopa County Unified School District 69 Paradise Valley,

Arizona, General Obligation Bonds, School Improvement

Project of 2023, Series 2025A

.000

07/01/30

1,674,809

1,000,000

Mesa, Arizona, Utility System Revenue Bonds, Series 2025

.000

07/01/44

957,127

3,615,000

Northern Arizona University, Revenue Bonds, SPEED - Stimulus

Plan Economic Educational Development Fund, Refunding

Series 2020B - AGM Insured

.000

08/01/26

3,692,291

4,220,000

Northern Arizona University, Revenue Bonds, SPEED - Stimulus

Plan Economic Educational Development Fund, Refunding

Series 2020B - AGM Insured

.000

08/01/27

4,409,719

3,975,000

Northern Arizona University, Revenue Bonds, SPEED - Stimulus

Plan Economic Educational Development Fund, Refunding

Series 2020B - AGM Insured

.000

08/01/28

4,246,987

705,000

Paradise Valley Unified School District No. 69, Maricopa

County, Arizona, General Obligation Bonds, School

Improvement Project of 2019, Series 2022D

.000

07/01/37

777,674

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

1,200,000

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

Obligation Bonds, Project of 2023 School Improvement Series

2024A - AGM Insured

.000

%

07/01/36

$

1,350,327

1,160,000

Pinal County, Arizona, Pledged Revenue Obligations,

Refunding Series 2025 - BAM Insured

.000

08/01/34

1,342,400

835,000

Pinal County, Arizona, Pledged Revenue Obligations, Series

2025 - BAM Insured

.000

08/01/34

966,297

1,250,000

Pinal County, Arizona, Pledged Revenue Obligations, Series

2025 - BAM Insured

.000

08/01/36

1,431,103

1,235,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.000

12/01/32

1,349,314

1,120,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.000

12/01/37

1,203,195

1,000,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/35

1,170,830

5,000,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/36

5,792,088

1,000,000

Tucson, Arizona, Water System Revenue Bonds, Obligations

Series 2024

.000

07/01/41

1,094,109

1,000,000

Tucson, Arizona, Water System Revenue Bonds, Obligations

Series 2024

.000

07/01/42

1,084,178

TOTAL ARIZONA

92,025,216

ARKANSAS - 0.8%

3,140,000

(d) Arkansas Development Finance Authority, Arkansas,

Environmental Improvement Revenue Bonds, United States

Steel Corporation, Green Series 2022, (AMT)

.450

09/01/52

3,139,322

1,165,000

Arkansas Development Finance Authority, Arkansas,

Environmental Improvement Revenue Bonds, United States

Steel Corporation, Green Series 2023, (AMT)

.700

05/01/53

1,183,362

14,355,000

(d) Arkansas Development Finance Authority, Industrial

Development Revenue Bonds, Big River Steel Project, Series

2019, (AMT)

.500

09/01/49

13,772,141

1,785,000

(d) Arkansas Development Finance Authority, Industrial

Development Revenue Bonds, Big River Steel Project, Series

2020A, (AMT)

.750

09/01/49

1,726,298

11,415,000

Arkansas Development Finance Authority, Revenue Bonds,

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

(Mandatory Put 9/01/27)

.000

09/01/44

11,755,838

165,000

Arkansas Development Finance Authority, Single Family

Mortgage Revenue Bonds, Mortgage-Backed Securities

Program, Series 2024A

.100

07/01/39

163,866

1,220,000

Arkansas Development Finance Authority, Single Family

Mortgage Revenue Bonds, Mortgage-Backed Securities

Program, Series 2024A

.450

07/01/44

1,209,815

2,750,000

Arkansas Development Finance Authority, Single Family

Mortgage Revenue Bonds, Mortgage-Backed Securities

Program, Series 2025A

.600

07/01/45

2,743,434

610,000

Arkansas State University, Student Fee Revenue Bonds,

Jonesboro Campus, Refunding Series 2024B

.000

12/01/37

672,498

620,000

Arkansas State University, Student Fee Revenue Bonds,

Jonesboro Campus, Refunding Series 2024B

.000

12/01/38

678,201

670,000

Arkansas State University, Student Fee Revenue Bonds,

Jonesboro Campus, Refunding Series 2024B

.000

12/01/39

727,187

705,000

Arkansas State University, Student Fee Revenue Bonds,

Jonesboro Campus, Refunding Series 2024B

.000

12/01/40

757,334

2,305,000

Hot Springs School District 6, Garland County, Arkansas,

General Obligation Bonds, Refunding Series 2021

.000

06/01/29

2,188,181

2,500,000

Hot Springs School District 6, Garland County, Arkansas,

General Obligation Bonds, Refunding Series 2021

.000

06/01/30

2,337,573

2,905,000

Hot Springs School District 6, Garland County, Arkansas,

General Obligation Bonds, Refunding Series 2021

.000

06/01/31

2,661,027

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARKANSAS

(continued)

$

325,000

Little Rock, Arkansas, General Obligation Bonds, Capital

Improvement Series 2022A

.875

%

02/01/43

$

324,588

1,610,000

Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax

Bonds, Series 2014

.000

07/01/26

1,612,563

1,500,000

Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax

Bonds, Series 2014

.000

07/01/28

1,504,425

1,935,000

Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax

Bonds, Series 2014

.000

07/01/29

1,940,676

1,005,000

Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax

Bonds, Series 2014

.000

07/01/30

1,007,931

4,595,000

Little Rock, Arkansas, Hotel and Restaurant Gross Receipts Tax

Bonds, Series 2014

.000

07/01/34

4,608,176

855,000

Pulaski County Public Facilities Board, Arkansas, Healthcare

Revenue Bonds, Baptist Health, Series 2014

.000

12/01/25

856,404

715,000

Pulaski County Public Facilities Board, Arkansas, Healthcare

Revenue Bonds, Baptist Health, Series 2014

.000

12/01/27

716,106

1,245,000

University of Arkansas, Fayetteville, Various Facilities Revenue

Bonds, Refunding & Improvement Series 2019A

.000

11/01/34

1,327,409

1,265,000

University of Arkansas, Fayetteville, Various Facilities Revenue

Bonds, Refunding & Improvement Series 2019A

.000

11/01/35

1,342,984

1,000,000

University of Arkansas, Various Facilities Revenue Bonds, UAMS

Campus, Refunding Series 2025

.000

09/01/32

1,142,545

TOTAL ARKANSAS

62,099,884

CALIFORNIA - 4.2%

5,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023C,

(Mandatory Put 10/01/31)

.250

01/01/54

5,336,908

5,170,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023F,

(Mandatory Put 11/01/30)

.500

10/01/54

5,663,958

12,370,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024B,

(Mandatory Put 12/01/32)

.000

01/01/55

13,106,791

11,020,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024C,

(Mandatory Put 10/01/32)

.000

08/01/55

11,887,043

9,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024D,

(Mandatory Put 9/01/32)

.000

02/01/55

9,887,096

8,860,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024H,

(Mandatory Put 8/01/33)

.000

01/01/56

9,890,793

7,550,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025C,

(Mandatory Put 10/01/33)

.000

12/01/55

8,108,930

12,800,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025D,

(Mandatory Put 7/01/34)

.000

10/01/55

13,775,844

1,430,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/30

1,534,924

1,310,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/32

1,388,652

635,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/33

668,383

350,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/34

350,132

2,190,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/36

2,154,401

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

3,000,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

%

06/01/38

$

2,887,098

1,580,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/40

1,484,431

5,975,000

California Educational Facilities Authority, Revenue Bonds,

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

.000

03/01/55

7,044,538

1,205,000

California Health Facilities Financing Authority, Revenue Bonds,

Children's Hospital Los Angeles, Series 2017A

.000

08/15/35

1,219,826

1,345,000

California Health Facilities Financing Authority, Revenue Bonds,

Children's Hospital Los Angeles, Series 2017A

.000

08/15/36

1,358,310

14,162,959

California Housing Finance Agency, Municipal Certificate

Revenue Bonds, Class A Series 2021-2

.750

03/25/35

14,264,782

2,788,302

California Housing Finance Agency, Municipal Certificate

Revenue Bonds, Class A Series 2021-3

.250

08/20/36

2,661,279

4,135,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, California Academy of Sciences, San

Francisco, Series 2024A

.250

08/01/29

4,201,882

6,700,000

California Infrastructure and Economic Development Bank,

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

(Mandatory Put 10/01/26)

.000

10/01/47

6,713,344

1,090,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, UCSF Clinical and Life Sciences Building,

Series 2025

.000

05/15/36

1,275,264

1,010,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, UCSF Clinical and Life Sciences Building,

Series 2025

.000

05/15/37

1,164,954

5,950,000

California Municipal Finance Authority, Revenue Bonds, Linxs

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

.250

12/31/32

5,811,646

4,000,000

California Municipal Finance Authority, Revenue Bonds, Linxs

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

.000

12/31/33

4,093,063

5,000,000

California Municipal Finance Authority, Revenue Bonds, Linxs

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

.000

12/31/34

5,092,266

1,800,000

(c) California Municipal Finance Authority, Solid Waste Disposal

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

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

.850

07/01/51

1,799,232

2,600,000

California Municipal Finance Authority, Solid Waste Disposal

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

(Mandatory Put 12/01/25)

.100

12/01/44

2,601,213

2,590,000

(d) California Pollution Control Financing Authority Water

Furnishing Revenue Bonds (Poseidon Resources (Channelside)

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

.000

07/01/34

2,822,071

2,500,000

(d) California Pollution Control Financing Authority Water

Furnishing Revenue Bonds (Poseidon Resources (Channelside)

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

.000

07/01/35

2,699,398

2,500,000

(d) California Pollution Control Financing Authority Water

Furnishing Revenue Bonds (Poseidon Resources (Channelside)

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

.000

07/01/36

2,673,811

5,130,000

(c),(d)

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Republic Services Inc., Refunding

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

.800

07/01/43

5,126,466

6,055,000

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Waste Management Inc., Refunding

Series 2015A-2, (AMT)

.625

07/01/27

6,055,593

12,330,000

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Waste Management, Inc. Project,

Refunding Series 2015B-1, (AMT)

.000

11/01/25

12,327,742

320,000

California State University, Systemwide Revenue Bonds, Series

2025A

.625

11/01/56

326,239

2,120,000

California State, General Obligation Bonds, Refunding Various

Purpose Series 2024

.000

09/01/43

2,292,914

15,000,000

California State, General Obligation Bonds, Various Purpose

Refunding Series 2025

.000

08/01/30

16,825,731

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

5,425,000

California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2014A

.250

%

12/01/29

$

5,430,769

1,500,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/27

1,519,400

2,695,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/31

2,721,072

4,200,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/36

4,215,869

6,180,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/41

6,182,318

885,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.000

12/01/28

914,253

2,530,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.000

12/01/33

2,586,596

3,790,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.250

12/01/38

3,837,017

4,900,000

Central Valley Energy Authority, California, Commodity Supply

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

.000

12/01/55

5,369,297

6,000,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Escondido Portfolio, Social

Senior Lien Series 2021A-1

.000

06/01/48

4,256,947

6,605,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Monterrey Station

Apartments, Senior Lien Series 2021A-1

.000

07/01/43

5,061,420

4,070,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Pasadena Portfolio Social

Bond, Series 2021A-1

.650

12/01/46

3,397,508

5,145,000

CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Wood Creek Apartments,

Senior Lien Series 2021A-1

.000

12/01/49

3,434,382

1,430,000

El Dorado Union High School District, El Dorado County,

California, General Obligation Bonds, Series 2020 - AGM

Insured

.000

08/01/33

1,488,596

2,200,000

El Dorado Union High School District, El Dorado County,

California, General Obligation Bonds, Series 2020 - AGM

Insured

.000

08/01/34

2,285,297

7,715,000

Golden State Tobacco Securitization Corporation, California,

Tobacco Settlement Asset-Backed Bonds, Capital Appreciation

Series 2021B-2

.000

06/01/66

821,701

4,125,000

Golden State Tobacco Securitization Corporation, California,

Tobacco Settlement Asset-Backed Revenue Bonds, Series

2022A-1

.000

06/01/51

4,071,850

1,315,000

Grant Joint Union High School District, Sacramento County,

California, General Obligation Bonds, Capital Appreciation

Election 2006 Series 2008 - AGM Insured

.000

08/01/26

1,286,867

2,015,000

Las Virgenes Unified School District, Los Angeles County,

California, General Obligation Bonds, 2006 Election, Series

2009B

.000

08/01/27

1,930,400

5,000,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2025A

.000

07/01/28

5,265,749

2,340,000

Los Angeles Unified School District, Los Angeles County,

California, General Obligation Bonds, Refunding Series 2024A

.000

07/01/26

2,388,262

8,915,000

Los Angeles, California, General Obligation Bonds, Tax &

Revenue Anticipation Notes, Series 2025

.000

06/25/26

9,086,936

7,500,000

Los Angeles, California, Wastewater System Revenue Bonds,

Refunding Series 2025A

.000

06/01/37

8,732,875

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

1,830,000

Mount Diablo Unified School District, Contra Costa County,

California, General Obligation Bonds, Election of 2018 Series

2025C

.000

%

08/01/38

$

2,103,325

5,440,000

Mount San Antonio Community College District, Los Angeles

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

Series 2013A

.875

08/01/28

5,909,882

9,635,000

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

Citigroup Prepay Contracts, Series 2009A

.125

11/01/29

10,196,109

7,670,000

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

Citigroup Prepay Contracts, Series 2009C

.125

11/01/29

8,116,175

1,020,000

Orange County Local Transportation Authority, California,

Measure M2 Sales Tax Revenue Bonds, Refunding Limited Tax,

Series 2025

.000

02/15/35

1,221,832

8,040,000

Palomar Pomerado Health, California, General Obligation

Bonds, Convertible Capital Appreciation, Election 2004 Series

2010A

.750

08/01/40

8,520,518

5,355,000

Poway Unified School District, San Diego County, California,

General Obligation Bonds, School Facilities Improvement

District 2007-1, Series 2011A

.000

08/01/34

4,079,690

2,115,000

Riverside County Redevelopment Agency, California, Tax

Allocation Bonds, Jurupa Valley Project Area, Series 2011B

.000

10/01/34

1,552,732

2,000,000

Riverside County Redevelopment Agency, California, Tax

Allocation Bonds, Jurupa Valley Project Area, Series 2011B

.000

10/01/36

1,325,906

1,165,000

San Bernardino Community College District, California,

General Obligation Bonds, Election of 2008 Series 2025F

.000

08/01/45

435,441

6,100,000

San Bernardino Community College District, California,

General Obligation Bonds, Election of 2008 Series 2025F

.000

08/01/46

2,139,739

7,200,000

San Bernardino Community College District, California,

General Obligation Bonds, Election of 2008 Series 2025F

.000

08/01/47

2,373,936

5,000,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2023A, (AMT)

.000

05/01/27

5,173,082

3,000,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2024A, (AMT)

.000

05/01/29

3,214,065

1,730,000

Santa Barbara Community College District, California, General

Obligation Bonds, Election of 2024 Series 2025A

.000

08/01/43

749,316

3,000,000

Victor Valley Union High School District, San Bernardino

County, California, General Obligation Bonds, 20008 Election

Series 2009A - AGC Insured

.750

08/01/31

3,073,533

1,450,000

Washington Township Health Care District, California, Revenue

Bonds, Refunding Series 2015A

.250

07/01/27

1,449,148

1,435,000

Washington Township Health Care District, California, Revenue

Bonds, Refunding Series 2015A

.500

07/01/28

1,434,481

1,355,000

Washington Township Health Care District, California, Revenue

Bonds, Refunding Series 2015A

.750

07/01/29

1,355,134

TOTAL CALIFORNIA

349,286,373

COLORADO - 2.5%

6,185,000

Adams and Arapahoe Counties Joint School District 28J,

Aurora, Colorado, General Obligation Bonds, Series 2025

.500

12/01/37

7,361,961

5,695,000

Adams and Arapahoe Counties Joint School District 28J,

Aurora, Colorado, General Obligation Bonds, Series 2025

.500

12/01/38

6,706,622

3,810,000

Adams and Arapahoe Counties Joint School District 28J,

Aurora, Colorado, General Obligation Bonds, Series 2025

.500

12/01/39

4,448,541

2,955,000

Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2021

.250

12/01/41

2,558,366

1,600,000

(d) Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2024

.500

12/01/44

1,567,059

3,015,000

Arapahoe County School District 6, Littleton, Colorado,

General Obligation Bonds, Series 2019A

.500

12/01/32

3,274,427

1,250,000

Arapahoe County School District 6, Littleton, Colorado,

General Obligation Bonds, Series 2019A

.500

12/01/33

1,352,586

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

7,677,000

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

Revenue Bonds, Refunding & Improvement Series 2017

.000

%

12/01/29

$

7,698,284

1,115,000

Centerra Metropolitan District 1, Loveland, Colorado, Special

Revenue Bonds, Refunding & Improvement Series 2020A

.000

12/01/29

1,116,499

6,000,000

Cherry Creek School District 5, Arapahoe County, Colorado,

General Obligation Bonds, Series 2024

.250

12/15/44

6,558,319

11,210,000

Colorado Bridge Enterprise, Revenue Bonds, Central 70

Project, Senior Series 2017, (AMT)

.000

06/30/51

9,408,143

10,000

(d) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Loveland Classical Schools Project,

Series 2016

.750

07/01/26

9,998

6,495,000

(d) Colorado Educational and Cultural Facilities Authority, Cultural

Facilities Revenue Bonds, Stanley Project, Senior Lien Series

2025A-1

.500

02/01/45

6,693,715

1,910,000

Colorado Educational and Cultural Facilities Authority, Revenue

Bonds, Regis University Project, Refunding Series 2016

.000

10/01/25

1,910,000

1,235,000

Colorado Educational and Cultural Facilities Authority, Revenue

Bonds, Regis University Project, Refunding Series 2016

.000

10/01/30

1,136,924

1,715,000

Colorado Educational and Cultural Facilities Authority, Revenue

Bonds, Regis University Project, Refunding Series 2016

.125

10/01/31

1,395,293

5,000,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

AdventHealth Obligated Group, Series 2019A

.000

11/15/37

5,305,443

2,140,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

AdventHealth Obligated Group, Series 2024A, (Mandatory Put

11/15/29)

.000

11/15/59

2,326,787

3,255,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Adventist Health System/Sunbelt Obligated Group, Series

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

.000

11/15/48

3,264,888

4,710,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2019A-2

.000

08/01/36

4,917,582

33,615,000

Colorado Health Facilities Authority, Colorado, Revenue

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

8/01/26)

.000

08/01/49

33,789,401

2,000,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2020A

.000

12/01/40

1,874,329

405,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2025A

.125

12/01/45

411,810

14,655,000

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

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

.125

09/01/42

14,710,497

1,000,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

SCL Health System, Refunding Series 2019A

.000

01/01/36

1,005,304

2,755,000

Colorado Housing and Finance Authority, Single Family

Mortgage Bonds, Class I Series 2021E

.125

11/01/42

1,901,411

6,510,000

Colorado Housing and Finance Authority, Single Family

Mortgage Bonds, Class I Series 2021H

.000

05/01/42

4,408,733

14,130,000

Dawson Trails Metropolitan District 1, Colorado, In The

Town of Castle Rock, Limited Tax General Obligation Capital

Appreciation Turbo Bonds, Series 2024

.000

12/01/31

8,920,557

1,705,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022D, (AMT)

.750

11/15/34

1,963,382

875,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022D, (AMT)

.750

11/15/35

999,276

5,140,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2018A, (AMT)

.000

12/01/35

5,322,741

1,325,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2023B, (AMT)

.000

11/15/26

1,357,027

3,590,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2023B, (AMT)

.000

11/15/27

3,752,332

8,645,000

Denver City and County, Colorado, Special Facilities Airport

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

2017, (AMT)

.000

10/01/32

8,647,465

1,500,000

Denver Convention Center Hotel Authority, Colorado, Revenue

Bonds, Convention Center Hotel, Refunding Senior Lien Series

2016

.000

12/01/31

1,523,135

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

500,000

Denver Convention Center Hotel Authority, Colorado, Revenue

Bonds, Convention Center Hotel, Refunding Senior Lien Series

2016

.000

%

12/01/32

$

506,998

645,000

Denver Convention Center Hotel Authority, Colorado, Revenue

Bonds, Convention Center Hotel, Refunding Senior Lien Series

2016

.000

12/01/33

653,090

3,000,000

Denver School District 1, Colorado, General Obligation Bonds,

Series 2025B

.000

12/01/27

3,169,532

1,730,000

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

Revenue Bonds, 9th and Colorado Urban Redevelopement

Area, Series 2018A

.250

12/01/39

1,733,448

330,000

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

Revenue Bonds, 9th and Colorado Urban Redevelopement

Area, Series 2018A

.250

12/01/39

330,473

1,000,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2024A

.000

09/01/40

1,087,679

5,900,000

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

Colorado), Tap Fee Revenue Bonds, Series 2022A

.750

12/01/34

5,918,649

635,000

Independence Water & Sanitation District, Elbert County,

Colorado, Special Revenue Bonds, Refunding and

Improvement Series 2024

.125

12/01/33

654,130

1,040,000

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

Colorado, Limited Tax General Obligation Bonds, Series 2021A

.000

12/01/35

924,203

3,945,000

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

Colorado, Limited Tax General Obligation Convertible Capital

Appreciation Bonds, Series 2022A-2

.000

12/01/42

2,670,411

750,000

Rampart Range Metropolitan District 5, Lone Tree, Douglas

County, Colorado, Limited Tax Supported and Special Revenue

Bonds, Series 2021

.000

12/01/36

714,096

600,000

Regional Transportation District, Colorado, Private Activity

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

.000

01/15/28

624,163

550,000

Regional Transportation District, Colorado, Private Activity

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

.000

07/15/28

576,748

750,000

Regional Transportation District, Colorado, Private Activity

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

.000

01/15/29

792,602

500,000

Regional Transportation District, Colorado, Private Activity

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

.000

07/15/29

532,391

555,000

Regional Transportation District, Colorado, Private Activity

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

.000

01/15/30

595,198

445,000

Regional Transportation District, Colorado, Private Activity

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

.000

07/15/30

480,484

1,035,000

Regional Transportation District, Colorado, Private Activity

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

.000

01/15/31

1,123,427

3,400,000

Regional Transportation District, Colorado, Private Activity

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

.000

07/15/40

3,218,100

2,100,000

Riverwalk Metropolitan District 2, Glendale, Arapahoe County,

Colorado, Special Revenue Bonds, Series 2022A

.500

12/01/32

1,972,346

9,095,000

Riverwalk Metropolitan District 2, Glendale, Arapahoe County,

Colorado, Special Revenue Bonds, Series 2022A

.000

12/01/42

8,079,322

1,000,000

Spring Mesa Metropolitan District, Jefferson County, Colorado,

General Obligation Bonds, Refunding Series 2015 - AGC

Insured

.750

12/01/44

914,664

600,000

Sterling Ranch Community Authority Board, Douglas County,

Colorado, Limited Tax Supported and Special Revenue Bonds,

Special District 4, Series 2024A

.125

12/01/39

621,133

730,000

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

County, Colorado, General Obligation Limited Bonds, Series

2021A-1

.000

12/01/41

618,468

1,025,000

West Globeville Metropolitan District 1, Denver, Colorado,

General Obligation Limited Tax Bonds, Series 2022

.250

12/01/32

1,033,890

TOTAL COLORADO

209,144,482

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CONNECTICUT - 1.7%

$

4,985,000

Connecticut Health and Educational Facilities Authority, Chefa

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

(Mandatory Put 7/01/26)

.200

%

07/01/37

$

4,996,706

1,785,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

07/01/33

1,874,298

4,790,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

07/01/34

4,852,537

10,000,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

07/01/35

10,086,699

700,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Stamford Hospital, Series 2021L-1

.000

07/01/26

703,793

1,125,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Stamford Hospital, Series 2021L-1

.000

07/01/27

1,144,136

775,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Stamford Hospital, Series 2021L-1

.000

07/01/28

794,819

600,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Stamford Hospital, Series 2021L-1

.000

07/01/29

619,381

5,000,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Yale University, Remarketing Series 1999U

.000

07/01/33

5,817,563

10,275,000

Connecticut Health and Educational Facilities Authority,

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

2/10/26)

.800

07/01/48

10,267,604

10,685,000

Connecticut Health and Educational Facilities Authority,

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

Put 7/01/26)

.000

07/01/42

10,615,741

5,200,000

Connecticut Health and Educational Facilities Authority,

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

(Mandatory Put 7/01/29)

.000

07/01/49

5,581,245

1,170,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2018D-1

.000

11/15/38

1,172,774

2,020,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2019B-1

.300

11/15/39

1,833,735

1,540,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2019E-1

.850

11/15/39

1,303,050

5,570,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2019F-1

.750

11/15/37

4,779,204

5,180,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020A-1

.450

05/15/38

4,224,037

3,025,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020A-1

.500

11/15/45

3,024,013

5,000,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020D-1

.350

11/15/40

3,821,330

2,850,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020E-1

.350

11/15/40

2,080,465

10,050,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020E-3

.850

05/15/38

7,325,108

11,105,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2021B-1

.100

11/15/40

8,016,637

22,870,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2021D-1

.300

11/15/41

16,918,851

1,025,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2025A-1

.500

11/15/45

1,033,451

2,000,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Sustainability Green Series 2024D-1

.550

11/15/44

2,027,567

2,150,000

Connecticut State, General Obligation Bonds, Refunding Series

2023B

.000

08/01/26

2,193,455

13,885,000

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

2025D

.000

08/15/30

15,501,247

5,400,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2024B

.000

07/01/28

5,773,896

4,060,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2024B

.000

07/01/29

4,437,745

TOTAL CONNECTICUT

142,821,087

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

DELAWARE - 0.2%

$

2,535,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024A

.450

%

07/01/44

$

2,513,838

1,290,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024B

.200

07/01/39

1,289,170

695,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024B

.600

07/01/44

701,455

1,320,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024C

.450

07/01/44

1,308,981

2,080,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024D

.300

07/01/44

2,041,527

1,480,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025A

.200

07/01/40

1,489,619

4,775,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025B

.650

07/01/40

4,849,097

1,750,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Taxable Series 2025D

.750

07/01/40

1,800,369

3,145,000

Delaware State, General Obligation Bonds, Series 2025

.125

05/01/43

3,152,740

TOTAL DELAWARE

19,146,796

DISTRICT OF COLUMBIA - 1.6%

2,905,000

District of Columbia Student Dormitory Revenue Bonds,

Provident Group - Howard Properties LLC Issue, Series 2013

.000

10/01/30

2,905,559

143,565,000

District of Columbia Tobacco Settlement Corporation, Tobacco

Settlement Asset-Backed Bonds, Series 2006A

.000

06/15/46

32,793,275

18,585,000

District of Columbia Water and Sewer Authority, Public Utility

Revenue Bonds, Refunding Subordinate Lien Series 2014C

.000

10/01/41

18,172,179

3,190,000

District of Columbia, General Obligation Bonds, Series 2019A

.000

10/15/30

3,468,504

5,500,000

District of Columbia, General Obligation Bonds, Series 2024A

.000

08/01/41

5,956,743

9,165,000

District of Columbia, General Obligation Bonds, Series 2024A

.000

08/01/43

9,776,817

35,000

District of Columbia, General Obligation Bonds, Series 2024A

.000

08/01/49

36,535

7,000,000

District of Columbia, Revenue Bonds, Georgetown University,

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

.000

04/01/60

7,837,199

1,250,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

Improvement Projects, Refunding First Senior Lien Series

2019A

.000

10/01/33

1,322,921

2,830,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

Improvement Projects, Refunding First Senior Lien Series

2019A

.000

10/01/34

2,983,473

1,625,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

Improvement Projects, Refunding First Senior Lien Series

2019A

.000

10/01/36

1,698,217

5,610,000

Metropolitan Washington D.C. Airports Authority, Airport

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

.000

10/01/26

5,726,047

5,000,000

Metropolitan Washington D.C. Airports Authority, Airport

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

.000

10/01/31

5,335,193

8,300,000

Metropolitan Washington D.C. Airports Authority, Airport

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

.000

10/01/27

8,662,883

2,460,000

Metropolitan Washington D.C. Airports Authority, Airport

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

.000

10/01/33

2,710,821

5,000,000

Metropolitan Washington D.C. Airports Authority, Airport

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

.000

10/01/34

5,470,795

2,440,000

Metropolitan Washington D.C. Airports Authority, Airport

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

.000

10/01/35

2,647,542

3,620,000

Metropolitan Washington D.C. Airports Authority, Airport

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

.000

10/01/27

3,778,269

5,795,000

Metropolitan Washington D.C. Airports Authority, Airport

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

.000

10/01/28

6,165,645

2,835,000

Washington Metropolitan Area Transit Authority, Dedicated

Revenue Bonds, Green Series 2021A

.000

07/15/27

2,960,220

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

DISTRICT OF COLUMBIA

(continued)

$

5,000,000

Washington Metropolitan Area Transit Authority, District of

Columbia, Gross Revenue Bonds, Series 2017B

.000

%

07/01/42

$

5,084,740

TOTAL DISTRICT OF COLUMBIA

135,493,577

FLORIDA - 3.8%

11,195,000

Broward County School Board, Florida, Certificates of

Participation, Series 2022A

.000

07/01/26

11,381,299

5,000,000

Broward County School Board, Florida, Certificates of

Participation, Series 2025A

.000

07/01/28

5,331,055

10,000,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2015A, (AMT)

.000

10/01/34

10,008,725

15,135,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2015A, (AMT)

.000

10/01/35

15,146,459

5,500,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2019A, (AMT)

.000

10/01/34

5,771,275

3,315,000

Broward County, Florida, Port Facilities Revenue Bonds, Series

2019B, (AMT)

.250

09/01/29

3,224,726

730,000

Cape Coral, Florida, Utility Improvement Assessment Bonds,

Refunding Various Areas Series 2017 - AGM Insured

.750

09/01/26

730,501

395,000

Cape Coral, Florida, Utility Improvement Assessment Bonds,

Refunding Various Areas Series 2017 - AGM Insured

.000

09/01/27

396,925

9,685,000

Cape Coral, Florida, Water and Sewer Revenue Bonds,

Refunding Series 2015

.000

10/01/32

9,700,340

7,325,000

Cape Coral, Florida, Water and Sewer Revenue Bonds,

Refunding Series 2015

.000

10/01/33

7,335,941

4,195,000

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

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/35

4,182,864

160,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Classical Preparatory Incorporated

Project, Series 2017A

.000

06/15/27

160,868

1,155,000

Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Mater Academy Projects, Series

2020A

.000

06/15/35

1,170,881

1,000,000

(d) Florida Development Finance Corporation, Florida, Solid

Waste Disposal Revenue Bonds, GFL Solid Waste Southeast

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

.375

10/01/54

1,010,172

6,250,000

Florida Development Finance Corporation, Florida, Solid

Waste Disposal Revenue Bonds, Waste Management, Inc.

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

.400

09/01/50

6,250,163

4,720,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

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

7/15/28)

.000

07/15/32

2,944,100

22,000,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/38

18,550,059

12,715,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/41

10,748,995

3,570,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.250

07/01/47

3,039,824

5,000,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

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

.250

07/01/53

4,890,288

30,615,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Series

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

.000

07/01/57

26,083,190

1,355,000

Florida Higher Educational Facilities Financing Authority,

Revenue Bonds, Nova Southeastern University Project,

Refunding Series 2016

.000

04/01/32

1,368,464

1,885,000

Florida Higher Educational Facilities Financing Authority,

Revenue Bonds, Nova Southeastern University Project,

Refunding Series 2016

.000

04/01/33

1,902,875

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

6,015,000

Florida Higher Educational Facilities Financing Authority,

Revenue Bonds, Nova Southeastern University Project,

Refunding Series 2016

.000

%

04/01/34

$

6,068,479

4,290,000

Florida Higher Educational Facilities Financing Authority,

Revenue Bonds, Nova Southeastern University Project,

Refunding Series 2016

.000

04/01/35

4,325,372

960,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2017-1

.600

07/01/37

944,444

1,915,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2018-2

.050

07/01/38

1,918,311

4,470,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2019-1

.000

07/01/39

3,962,909

7,550,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2024-5

.450

07/01/44

7,546,196

1,900,000

(f) Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2025-5

.600

07/01/40

1,911,166

7,890,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Social Series 2021-2

.050

07/01/41

5,873,335

14,720,000

Florida Municipal Power Agency, Power Supply Revenue

Bonds, All Requirements Project, Series 2025A

.000

10/01/34

16,662,385

3,730,000

Florida Municipal Power Agency, Power Supply Revenue

Bonds, All Requirements Project, Series 2025A

.000

10/01/35

4,179,938

1,980,000

Hillsborough County Industrial Development Authority, Florida,

Health System Revenue Bonds, BayCare Health System Series

2024C

.000

11/15/34

2,275,045

3,375,000

Hillsborough County, Florida, Solid Waste and Resource

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

.000

09/01/34

3,393,935

2,000,000

JEA, Florida, Electric System Revenue Bonds, Series Three

2024A

.000

10/01/30

2,232,132

5,195,000

JEA, Florida, Electric System Revenue Bonds, Subordinated

Series Three 2020A

.000

10/01/27

5,443,862

10,000,000

Miami Dade County, Florida, Professional Sports Franchise

Facilities Tax Revenue Bonds, Refunding Series 2009A - AGC

Insured

.000

10/01/45

3,845,333

5,060,000

Miami-Dade County Educational Facilities Authority, Florida,

Revenue Bonds, University of Miami, Series 2018A

.000

04/01/53

5,094,521

2,175,000

Miami-Dade County Expressway Authority, Florida, Toll System

Revenue Bonds, Refunding Series 2014B

.000

07/01/27

2,178,649

7,405,000

Miami-Dade County Industrial Development Authority, Florida,

Solid Waste Disposal Revenue Bonds, Waste Management Inc

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

.000

11/01/48

7,404,830

3,000,000

Miami-Dade County, Florida, Aviation Revenue Bonds,

Refunding Series 2024A, (AMT)

.000

10/01/27

3,127,589

7,350,000

Miami-Dade County, Florida, Aviation Revenue Bonds,

Refunding Series 2024A, (AMT)

.000

10/01/29

7,922,520

11,365,000

Miami-Dade County, Florida, Aviation Revenue Bonds,

Refunding Series 2024A, (AMT)

.000

10/01/33

12,702,180

7,645,000

Orange County Health Facilities Authority Revenue Bonds,

Florida, Presbyterian Retirement Communities Obligated

Group Project Series 2023A

.000

08/01/36

7,440,082

4,010,000

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

Cent Contract Payments, Refunding Senior Series 2017A - AGM

Insured

.000

11/01/32

4,171,819

2,015,000

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

Cent Contract Payments, Refunding Senior Series 2017A - AGM

Insured

.000

11/01/34

2,086,835

1,000,000

Osceola County, Florida, Transportation Revenue Bonds,

Osceola Parkway, Refunding & Improvement Series 2019A-1

.000

10/01/49

1,003,643

6,190,000

Palm Beach County School Board, Florida, Certificates of

Participation, Series 2025A

.000

08/01/30

6,895,849

585,000

(d) Sawyers Landing Community Development District, Florida,

Special Assessment Revenue Bonds, Series 2021

.125

05/01/41

533,084

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

315,000

(d) Seminole County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, Galileo Schools for

Gifted Learning, Series 2021A

.000

%

06/15/36

$

295,522

425,000

(d) Seminole County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, Galileo Schools for

Gifted Learning, Series 2021A

.000

06/15/41

365,447

1,390,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/30

1,555,492

5,000,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/31

5,656,422

4,750,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/32

5,427,999

4,000,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/33

4,610,205

7,410,000

South Florida Water Management District, Certificates of

Participation, Series 2015

.000

10/01/33

7,468,039

1,890,000

Tampa, Florida, Capital Improvement Cigarette Tax Allocation

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

.000

09/01/34

1,338,969

1,500,000

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

Assessment Revenue Bonds, Series 2024

.000

05/01/34

1,506,069

TOTAL FLORIDA

310,698,596

GEORGIA - 2.3%

1,000,000

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

Westside Gulch Area Project, Senior Series 2024A-1

.000

04/01/34

1,014,057

4,150,000

Atlanta, Georgia, Airport General Revenue Bonds, Green Series

2025B-1, (AMT)

.000

07/01/33

4,646,400

7,000,000

Atlanta, Georgia, Airport Passenger Facilities Charge and

General Revenue Bonds, Subordinate Lien Green Series

2023E, (AMT)

.000

07/01/34

7,755,453

7,000,000

Atlanta, Georgia, Airport Passenger Facilities Charge and

General Revenue Bonds, Subordinate Lien Green Series

2023E, (AMT)

.000

07/01/35

7,662,857

1,020,000

Burke County Development Authority, Georgia, Pollution

Control Revenue Bonds, Georgia Power Company Vogtle Plant,

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

.375

11/01/53

1,026,195

6,250,000

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

Bonds, Series 2025

.000

04/01/32

7,145,740

1,850,000

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

Bonds, Series 2025

.000

04/01/33

2,135,110

1,315,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2018A

.600

12/01/33

1,319,459

1,240,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2018A

.850

12/01/38

1,218,998

2,940,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2019A

.050

12/01/34

2,822,625

4,000,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2019A

.350

12/01/39

3,630,095

8,285,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2019B

.950

12/01/39

7,045,063

4,250,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2021A

.400

12/01/41

3,198,196

960,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2023A

.150

12/01/38

960,150

3,925,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2024A

.450

12/01/44

3,921,327

2,740,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2024C

.000

12/01/39

2,710,075

5,040,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2024C

.400

12/01/44

5,035,272

6,320,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2025C

.800

12/01/40

6,469,716

5,775,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Sub Series 2015A-1

.700

12/01/35

5,774,980

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

GEORGIA

(continued)

$

5,000,000

Georgia State, General Obligation Bonds, Series 2015A

.000

%

02/01/32

$

5,001,599

5,000,000

Georgia State, General Obligation Bonds, Series 2015A

.000

02/01/33

5,001,496

11,275,000

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

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

.000

07/01/52

11,514,181

10,650,000

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

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

.000

09/01/52

10,928,380

12,160,000

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

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

.000

12/01/52

12,887,550

17,400,000

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

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

.000

08/01/52

17,509,514

4,000,000

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

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

.000

07/01/53

4,305,303

4,000,000

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

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

.000

12/01/53

4,312,104

17,130,000

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

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

.000

04/01/54

18,550,281

3,000,000

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

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

.000

05/01/55

3,281,551

8,580,000

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

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

.000

06/01/55

9,339,267

6,750,000

Richmond County Board of Education, Georgia, General

Obligation Bonds, Sales Tax Series 2025

.000

10/01/32

7,769,125

TOTAL GEORGIA

185,892,119

GUAM - 0.1%

400,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/26

405,610

450,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/27

465,520

800,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/28

843,194

1,250,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/30

1,362,203

2,470,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/35

2,696,192

630,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/38

669,315

1,200,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024A

.000

07/01/39

1,266,402

650,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024B

.000

07/01/26

659,116

500,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024B

.000

07/01/27

517,244

1,000,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024B

.000

07/01/28

1,053,992

1,000,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024B

.000

07/01/29

1,072,396

1,100,000

Guam Government Waterworks Authority, Water and

Wastewater System Revenue Bonds, Refunding Series 2024B

.000

07/01/30

1,198,739

TOTAL GUAM

12,209,923

HAWAII - 0.4%

3,500,000

Hawaii County, Hawaii, General Obligation Bonds, Series

2017A

.000

09/01/29

3,612,772

21,210,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Refunding Series 2019

.200

07/01/39

18,413,281

6,515,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Series 2017A, (AMT)

.100

05/01/26

6,456,040

2,000,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Queens Health Systems, Series 2025A

.000

07/01/30

2,214,117

2,000,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Queens Health Systems, Series 2025A

.000

07/01/32

2,261,751

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HAWAII

(continued)

$

1,000,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Queens Health Systems, Series 2025A

.000

%

07/01/33

$

1,138,715

1,005,000

Hawaii State, General Obligation Bonds, Series 2017FK

.000

05/01/34

1,032,227

1,340,000

Honolulu City and County, Hawaii, Wastewater System Revenue

Bonds, First Bond Resolution, Senior Refunding Series 2025A

.000

07/01/37

1,532,559

TOTAL HAWAII

36,661,462

IDAHO - 0.3%

310,000

Boise City, Idaho, Airport Revenue Bonds, Aircraft Maintenance

Facilities Project, Subordinate Series 2015, (AMT)

.750

09/01/32

309,992

1,455,000

Boise City, Idaho, Airport Revenue Bonds, Employee Parking

Facilities Project, Series 2021B, (AMT)

.000

09/01/46

1,294,087

1,210,000

Boise City, Idaho, Airport Revenue Bonds, Public Parking

Facilities Project, Refunding Series 2021A

.000

09/01/51

1,231,604

110,000

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

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

.000

03/01/60

120,522

1,000,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

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

Series 2016A

.000

07/01/39

974,873

895,000

Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, Series 2019C

.900

07/01/39

751,979

5,080,000

Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, Series 2024A

.450

01/01/44

4,999,142

11,770,000

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

Special Assessment Bonds, Series 2021

.750

09/01/51

11,046,345

TOTAL IDAHO

20,728,544

ILLINOIS - 7.4%

4,700,000

Berwyn, Cook County, Illinois, General Obligation Bonds,

Series 2014A

.000

12/01/34

4,692,263

479,000

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

Refunding Series 2016 - BAM Insured

.700

03/01/26

478,139

1,026,000

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

Refunding Series 2016 - BAM Insured

.900

03/01/28

1,025,254

943,000

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

Refunding Series 2016 - BAM Insured

.050

03/01/30

943,139

463,000

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

Refunding Series 2016 - BAM Insured

.700

03/01/26

462,168

1,391,000

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

Refunding Series 2016 - BAM Insured

.900

03/01/28

1,389,989

1,418,000

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

Refunding Series 2016 - BAM Insured

.050

03/01/30

1,418,209

29,585,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2016

.000

04/01/46

29,977,339

1,860,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2017

.000

04/01/33

1,890,772

1,000,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2017

.000

04/01/42

992,229

1,150,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2018

.000

04/01/37

1,166,753

2,700,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2017G

.000

12/01/34

2,712,371

2,930,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2018A

.000

12/01/32

2,983,171

1,000,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2018A

.000

12/01/33

1,012,916

1,500,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2018A

.000

12/01/35

1,506,892

3,930,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2019B

.000

12/01/33

3,980,529

12,835,000

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

Bonds, Dedicated Revenues, Series 2017A

.000

12/01/46

13,074,501

5,950,000

Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2020A

.000

12/01/45

6,062,691

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

6,005,000

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

International Airport, Senior Lien Series 2018B

.000

%

01/01/37

$

6,271,541

1,010,000

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

International Airport, Senior Lien Series 2022A

.500

01/01/48

965,547

3,320,000

Chicago, Illinois, General Obligation Bonds, Chicago Works

Series 2023A

.250

01/01/38

3,385,774

2,045,000

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

2016C, (ETM)

.000

01/01/26

2,056,423

4,740,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/29

5,025,839

7,965,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/30

8,579,996

725,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2024A

.000

01/01/26

728,683

1,100,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2024A

.000

01/01/27

1,126,307

1,265,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2024A

.000

01/01/28

1,320,719

1,500,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2024A

.000

01/01/29

1,588,546

1,000,000

Cook County Community Consolidated School District 64,

Illinois, Park Ridge, General Obligation Bonds, School Series

2025

.000

12/01/43

1,055,964

2,525,000

Cook County Community Consolidated School District 64,

Illinois, Park Ridge, General Obligation Bonds, School Series

2025

.250

12/01/47

2,457,915

3,450,000

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

.000

11/15/41

3,228,187

1,150,000

DuPage County Forest Preserve District, Illinois, General

Obligation Bonds, Limited Tax Series 2025

.000

11/01/28

1,236,396

4,020,000

DuPage County School District 58 Downers Grove, Illinois,

General Obligation Bonds, School Series 2022

.250

12/15/39

4,424,532

1,000,000

Effingham and Clay Counties Community Unit School District

Number 40, Effingham, Illinois, General Obligation Bonds,

School Series 2019A - BAM Insured

.000

12/01/30

1,030,391

1,000,000

Effingham and Clay Counties Community Unit School District

Number 40, Effingham, Illinois, General Obligation Bonds,

School Series 2019A - BAM Insured

.000

12/01/34

1,012,359

1,395,000

Effingham and Clay Counties Community Unit School District

Number 40, Effingham, Illinois, General Obligation Bonds,

School Series 2019A - BAM Insured

.000

12/01/35

1,405,043

1,455,000

Effingham and Clay Counties Community Unit School District

Number 40, Effingham, Illinois, General Obligation Bonds,

School Series 2019A - BAM Insured

.000

12/01/36

1,461,508

2,975,000

Elmhurst Park District, DuPage and Cook Counties, Illinois,

General Obligation Bonds, Series 2025

.125

12/15/45

2,865,656

1,016,000

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

Refunding Series 2017 - BAM Insured

.000

03/01/26

1,016,851

1,045,000

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

Refunding Series 2017 - BAM Insured

.150

03/01/27

1,046,883

4,560,000

Illinois Finance Authority, Revenue Bonds, Advocate Health

Care Network, Refunding Series 2008A-2

.000

11/01/30

4,653,863

4,965,000

Illinois Finance Authority, Revenue Bonds, Advocate Health

Care Network, Refunding Series 2008A-3

.000

11/01/30

5,174,182

6,665,000

Illinois Finance Authority, Revenue Bonds, Advocate Health

Care Network, Series 2008A-1

.000

11/01/30

6,802,612

6,400,000

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

Lurie Children's Hospital of Chicago, Refunding Series 2017

.000

08/15/39

6,199,095

2,130,000

Illinois Finance Authority, Revenue Bonds, Art Institute of

Chicago, Series 2016

.000

03/01/30

2,147,006

28,010,000

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

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

.000

02/15/41

28,601,700

85,000

Illinois Finance Authority, Revenue Bonds, Ascension Health

Alliance, Series 2016C

.000

02/15/41

81,120

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

915,000

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

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

.000

%

02/15/41

$

934,329

2,375,000

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

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

2/15/27)

.625

02/15/32

2,412,260

10,000,000

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

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

2/15/27)

.750

02/15/34

10,173,642

70,000

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

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

2/15/27)

.000

02/15/41

71,479

1,505,000

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

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

2/15/27)

.000

02/15/41

1,536,792

2,505,000

Illinois Finance Authority, Revenue Bonds, Memorial Health

System, Series 2019

.000

04/01/31

2,680,764

1,300,000

Illinois Finance Authority, Revenue Bonds, Memorial Health

System, Series 2019

.000

04/01/32

1,385,421

4,510,000

Illinois Finance Authority, Revenue Bonds, Memorial Health

System, Series 2019

.000

04/01/34

4,759,425

7,610,000

Illinois Finance Authority, Revenue Bonds, Memorial Health

System, Series 2019

.000

04/01/36

7,961,106

2,410,000

(e) Illinois Finance Authority, Revenue Bonds, Northwest

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

7/01/26)

.000

07/01/33

2,454,264

3,170,000

(e) Illinois Finance Authority, Revenue Bonds, Northwest

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

7/01/26)

.000

07/01/34

3,228,223

5,010,000

(e) Illinois Finance Authority, Revenue Bonds, Northwest

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

7/01/26)

.000

07/01/35

5,102,018

1,000,000

Illinois Finance Authority, Revenue Bonds, OSF Healthcare

System, Series 2015A

.000

11/15/27

1,001,608

1,935,000

Illinois Finance Authority, Revenue Bonds, OSF Healthcare

System, Series 2015A

.000

11/15/28

1,938,164

2,000,000

Illinois Finance Authority, Revenue Bonds, OSF Healthcare

System, Series 2015A

.000

11/15/29

2,003,272

1,545,000

Illinois Finance Authority, Revenue Bonds, Roosevelt University,

Series 2007

.400

04/01/27

1,545,466

2,900,000

Illinois Finance Authority, Revenue Bonds, Rush University

Medical Center Obligated Group, Series 2015A

.000

11/15/29

2,902,784

1,500,000

Illinois Finance Authority, Revenue Bonds, Rush University

Medical Center Obligated Group, Series 2015B

.000

11/15/28

1,501,576

4,000,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

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

Put 8/15/30)

.000

08/15/43

4,320,075

4,000,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

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

Put 8/15/35)

.000

08/15/44

4,366,210

1,545,000

Illinois FInance Authority, Revenue Bonds, Southern Illinois

Healthcare Enterprises, Inc., Refunding Series 2017C

.000

03/01/32

1,579,148

2,760,000

Illinois FInance Authority, Revenue Bonds, Southern Illinois

Healthcare Enterprises, Inc., Refunding Series 2017C

.000

03/01/33

2,816,389

2,005,000

Illinois FInance Authority, Revenue Bonds, Southern Illinois

Healthcare Enterprises, Inc., Refunding Series 2017C

.000

03/01/34

2,042,207

1,815,000

Illinois FInance Authority, Revenue Bonds, Southern Illinois

Healthcare Enterprises, Inc., Refunding Series 2017C

.000

03/01/35

1,771,175

3,140,000

Illinois Finance Authority, Revenue Bonds, University of

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

.000

08/15/52

3,246,421

8,750,000

Illinois Finance Authority, Revenue Bonds, University of

Chicago, Series 2014A

.000

10/01/38

8,750,037

5,100,000

Illinois Finance Authority, Revenue Bonds, University of

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

.000

08/15/53

5,614,558

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

3,070,000

(d) Illinois Finance Authority, Surface Freight Transfer Facilities

Revenue Bonds, CenterPoint Joliet Terminal Railroad Project,

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

.800

%

12/01/43

$

3,153,467

7,500,000

(d) Illinois Finance Authority, Surface Freight Transfer Facilities

Revenue Bonds, CenterPointJoliet Terminal Railroad Project,

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

.125

12/01/43

7,440,792

13,655,000

(d) Illinois Finance Authority, Surface Freight Transfer Facilities

Revenue Bonds, CenterPointJoliet Terminal Railroad Project,

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

.125

12/01/50

13,547,202

1,000,000

Illinois Finance Authority, Water Facilities Revenue Bonds,

American Water Capital Corporation Project, Refunding Series

2019, (Mandatory Put 10/01/29)

.450

10/01/39

972,694

21,355,000

Illinois Housing Development Authority, Revenue Bonds,

Green Series 2021B

.150

10/01/41

15,106,538

560,000

Illinois Housing Development Authority, Revenue Bonds, Series

2019D

.950

10/01/39

471,524

5,475,000

Illinois Housing Development Authority, Revenue Bonds, Social

Series 2024I

.450

10/01/44

5,468,456

20,000,000

Illinois Municipal Electric Agency, Power Supply System

Revenue Bonds, Refunding Series 2025A

.000

02/01/34

22,734,142

1,000,000

Illinois State, General Obligation Bonds, June Series 2016

.000

06/01/28

1,014,921

3,090,000

Illinois State, General Obligation Bonds, June Series 2016

.500

06/01/29

3,095,893

12,200,000

Illinois State, General Obligation Bonds, November Series

2016

.000

11/01/26

12,505,542

2,690,000

Illinois State, General Obligation Bonds, November Series

2017C

.000

11/01/29

2,811,761

1,345,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/25

1,347,581

1,725,000

Illinois State, General Obligation Bonds, November Series

2017D

.250

11/01/26

1,733,059

9,345,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/26

9,576,008

19,765,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/27

20,676,868

1,765,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/28

1,844,854

2,000,000

Illinois State, General Obligation Bonds, November Series

2019B

.000

11/01/30

2,167,442

4,060,000

Illinois State, General Obligation Bonds, Refunding June Series

2022B

.000

03/01/26

4,099,522

3,570,000

Illinois State, General Obligation Bonds, Refunding October

Series 2024

.000

02/01/27

3,678,881

2,000,000

Illinois State, General Obligation Bonds, Refunding October

Series 2024

.000

02/01/28

2,105,455

2,205,000

Illinois State, General Obligation Bonds, Refunding October

Series 2024

.000

02/01/29

2,363,365

1,600,000

Illinois State, General Obligation Bonds, Refunding September

Series 2018B

.000

10/01/32

1,685,596

7,100,000

Illinois State, General Obligation Bonds, Taxable September

Series 2025B

.250

09/01/29

7,757,803

6,615,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Refunding Senior Lien Series 2016A

.000

12/01/31

6,646,961

7,160,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Refunding Senior Lien Series 2016A

.000

12/01/32

7,192,735

5,800,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Refunding Senior Series 2024A

.000

01/01/36

6,545,105

9,860,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2014C

.000

01/01/36

9,867,499

10,015,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2014C

.000

01/01/39

10,017,745

13,090,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2015A

.000

01/01/40

13,096,830

3,235,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2015B

.000

01/01/40

3,241,789

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

5,035,000

Illinois, General Obligation Bonds, Illinois FIRST Program,

Series 2001 - FGIC Insured

.000

%

11/01/26

$

5,109,046

12,020,000

Kendall, Kane, and Will Counties Community Unit School

District 308 Oswego, Illinois, General Obligation Bonds,

Refunding School Series 2016

.000

02/01/34

12,075,171

3,465,000

Kendall, Kane, and Will Counties Community Unit School

District 308 Oswego, Illinois, General Obligation Bonds,

Refunding School Series 2016

.000

02/01/35

3,480,210

1,485,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/30

1,520,976

1,215,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/31

1,243,167

1,645,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/32

1,680,850

1,725,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/33

1,760,002

1,815,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/34

1,849,108

1,845,000

LaSalle County, Illinois, General Obligation Bonds, Self-

Insurance Series 2019

.000

12/01/27

1,895,900

1,925,000

LaSalle County, Illinois, General Obligation Bonds, Self-

Insurance Series 2019

.000

12/01/28

1,980,535

1,560,000

LaSalle County, Illinois, General Obligation Bonds, Self-

Insurance Series 2019

.000

12/01/29

1,604,306

2,430,000

Madison County Community Unit School District 7

Edwardsville, Illinois, General Obligation Bonds, Series 2017A

.000

12/01/28

2,437,255

2,500,000

Madison County Community Unit School District 7

Edwardsville, Illinois, General Obligation Bonds, Series 2017A

.000

12/01/29

2,507,253

1,500,000

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

Greene Counties Community College District 536, Illinois,

General Obligation Bonds, Lewis & Clark Community College,

Refunding Series 2017A - AGM Insured

.000

11/01/31

1,532,377

4,380,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Refunding Series 2020A

.000

06/15/50

3,729,512

1,905,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2012B

.000

12/15/51

512,876

1,810,000

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

Place Expansion Project Bonds, Series 2017B

.000

12/15/37

1,431,766

9,045,000

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

Place Expansion Project Bonds, Series 2017B

.000

12/15/42

6,697,500

6,000,000

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

Place Expansion Project Bonds, Series 2017B

.000

12/15/47

4,353,632

1,000,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2020B

.000

06/15/42

1,012,824

9,580,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

NPFG Insured

.000

12/15/29

8,376,735

3,970,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A

.000

06/15/30

3,408,311

15,000,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

AGM Insured

.000

12/15/40

7,671,556

325,000

Montgomery, Illinois, Lakewood Creek Project Special

Assessment Bonds, Series 2018 - BAM Insured

.100

03/01/26

325,352

375,000

Montgomery, Illinois, Lakewood Creek Project Special

Assessment Bonds, Series 2018 - BAM Insured

.200

03/01/27

377,502

260,000

Montgomery, Illinois, Lakewood Creek Project Special

Assessment Bonds, Series 2018 - BAM Insured

.300

03/01/28

261,279

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

445,000

Montgomery, Illinois, Lakewood Creek Project Special

Assessment Bonds, Series 2018 - BAM Insured

.450

%

03/01/30

$

448,225

320,000

Morton Grove, Illinois, Tax Increment Revenue Bonds, Sawmill

Station Redevelopment Project, Senior Lien Series 2019

.250

01/01/29

320,011

10,000,000

Northern Illinois Municipal Power Agency, Power Project

Revenue Bonds, Prairie State Project, Refunding Series 2016A

.000

12/01/41

10,097,521

325,000

Northern Illinois University, Auxiliary Facilities System Revenue

Bonds, Series 2021 - BAM Insured

.000

10/01/27

337,472

650,000

Northern Illinois University, Auxiliary Facilities System Revenue

Bonds, Series 2021 - BAM Insured

.000

10/01/28

684,858

1,491,000

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

2 Lakewood Springs Project, Refunding Series 2014 - AGM

Insured

.000

03/01/29

1,492,908

3,040,000

(e) Railsplitter Tobacco Settlement Authority, Illinois, Tobacco

Settlement Revenue Bonds, Series 2017, (Pre-refunded

6/01/26)

.000

06/01/27

3,089,297

1,283,000

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

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

BAM Insured

.700

03/01/29

1,296,618

1,073,000

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

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

BAM Insured

.800

03/01/30

1,085,502

2,187,000

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

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

BAM Insured

.000

03/01/33

2,213,135

2,125,000

Sales Tax Securitization Corporation, Illinois, Sales Tax

Securitization Bonds, Refunding Second Lien Series 2024A

.000

01/01/37

2,369,067

2,440,000

Sales Tax Securitization Corporation, Illinois, Sales Tax

Securitzation Bonds, Second Lien Series 2020A

.000

01/01/36

2,567,751

2,435,000

Sales Tax Securitization Corporation, Illinois, Sales Tax

Securitzation Bonds, Second Lien Series 2020A - BAM Insured

.000

01/01/37

2,566,104

2,715,000

Southwestern Illinois Development Authority, Illinois, Local

Government Revenue Bonds, Triad Community Unit School

District 2 Project, Series 2025B - BAM Insured

.000

04/01/39

2,950,933

2,105,000

Southwestern Illinois Development Authority, Illinois, Local

Government Revenue Bonds, Triad Community Unit School

District 2 Project, Series 2025B - BAM Insured

.000

04/01/40

2,262,807

3,960,000

Southwestern Illinois Development Authority, Illinois, Local

Government Revenue Bonds, Triad Community Unit School

District 2 Project, Series 2025B - BAM Insured

.000

04/01/41

4,218,658

2,935,000

Southwestern Illinois Development Authority, Local

Government Program Revenue Bonds, Southwestern Illinois

Flood District Council Project, Series 2016B

.000

10/15/40

2,859,252

965,000

Southwestern Illinois Development Authority, Local

Government Program Revenue Bonds, Southwestern Illinois

Flood District Council Project, Series 2020

.000

04/15/34

987,106

1,250,000

Southwestern Illinois Development Authority, Local

Government Program Revenue Bonds, Southwestern Illinois

Flood District Council Project, Series 2020

.000

10/15/35

1,268,128

5,675,000

Will County Community High School District 210 Lincoln-

Way, Illinois, General Obligation Bonds, Capital Appreciation

Refunding School Series 2013B

.000

01/01/30

4,926,056

5,110,000

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

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

.000

11/15/41

5,124,569

3,855,000

Winnebago-Boone Counties School District 205 Rockford,

Illinois, General Obligation Bonds, Series 2013

.000

02/01/26

3,810,699

TOTAL ILLINOIS

610,598,484

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

INDIANA - 2.7%

$

2,100,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, Earlham College, Refunding Series 2013A

.000

%

10/01/32

$

2,099,901

3,500,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, University of Indianapolis Project, Series 2017

.000

10/01/43

3,396,721

3,070,000

Indiana Finance Authority, Environmental Facilities Revenue

Bonds, Indianapolis Power & Light Company Project, Refunding

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

.950

12/01/38

3,029,691

6,750,000

Indiana Finance Authority, Environmental Facilities Revenue

Bonds, Indianapolis Power & Light Company Project, Refunding

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

.400

08/01/29

6,178,773

4,000,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, Southern Indiana Gas & Electric Company,

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

.000

05/01/43

4,019,890

2,375,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, United States Steel Corporation Project,

Refunding Series 2021A

.125

12/01/26

2,379,893

6,440,000

Indiana Finance Authority, Hospital Revenue Bonds, Goshen

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

.100

11/01/49

6,290,269

12,830,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

University Health Obligation Group, Long Term Rate Series

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

.000

10/01/55

14,430,916

3,850,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

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

.000

10/01/64

4,154,025

9,530,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

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

.000

10/01/63

10,622,856

1,710,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, Series 2014A

.000

10/01/26

1,713,566

1,470,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Series 2021A

.050

07/01/41

1,023,114

11,335,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Social PAC Series

2021B

.125

07/01/41

7,885,935

1,500,000

Indiana Housing and Community Development Authority,

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

.500

07/01/44

1,495,480

5,005,000

Indiana Housing and Community Development Authority,

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

.650

07/01/44

5,074,341

7,665,000

Indiana Housing and Community Development Authority,

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

.550

07/01/44

7,676,946

14,375,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Airport Authority Project Revenue Bonds, Refunding Series

2019D, (AMT)

.000

01/01/27

14,736,615

4,225,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Airport Authority Project Revenue Bonds, Refunding Series

2019D, (AMT)

.000

01/01/29

4,495,961

3,000,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

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

.000

01/01/27

3,075,467

3,150,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

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

.000

01/01/28

3,299,268

1,000,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Local Income Tax Revenue Bonds, Indianapolis Public

Transportation Corporation Project, Green Series 2025A

.000

07/15/37

1,112,683

1,375,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Local Income Tax Revenue Bonds, Indianapolis Public

Transportation Corporation Project, Green Series 2025A

.000

07/15/43

1,444,924

2,000,000

IPS Multi-School Building Corporation, Indiana, First Mortgage

Revenue Bonds, Refunding & Improvement, Social Series 2024

.000

07/15/43

2,088,704

4,500,000

IPS Multi-School Building Corporation, Indiana, First Mortgage

Revenue Bonds, Social Series 2024

.000

07/15/41

4,766,932

4,750,000

IPS Multi-School Building Corporation, Indiana, First Mortgage

Revenue Bonds, Social Series 2024

.000

07/15/44

4,929,801

4,000,000

Mount Vernon, Indiana, Environmental Improvement Revenue

Bonds, Southern Indiana Gas and Electric Company Project,

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

.250

09/01/55

4,070,910

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

INDIANA

(continued)

$

33,040,000

Richmond Hospital Authority, Indiana, Revenue Bonds, Reid

Hospital Project, Refunding Series 2018B

.000

%

01/01/36

$

33,365,642

7,675,000

Rockport, Indiana, Pollution Control Revenue Refunding Bonds,

Indiana Michigan Power Company Project, Series 2025A,

(Mandatory Put 6/01/29)

.700

06/01/47

7,882,002

2,320,000

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

County, Indiana, First Mortgage Bonds, Ad Valorem Property

Tax Refunding Series 2025

.000

07/15/32

2,620,452

2,610,000

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

Paper LLC Project, Refunding Series 2024, (AMT)

.500

01/01/34

2,692,150

1,025,000

Vanderburgh County,Indiana, Redevelopment District Tax

Increment Revenue bonds, Refunding Series 2014

.000

02/01/26

1,026,935

1,805,000

Vanderburgh County,Indiana, Redevelopment District Tax

Increment Revenue bonds, Refunding Series 2014

.000

02/01/27

1,808,334

1,800,000

Vanderburgh County,Indiana, Redevelopment District Tax

Increment Revenue bonds, Refunding Series 2014

.000

02/01/29

1,803,325

2,700,000

Vanderburgh County,Indiana, Redevelopment District Tax

Increment Revenue bonds, Refunding Series 2014

.000

02/01/31

2,704,987

1,340,000

Westfield-Washington Multi-School Building Corporation,

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

- BAM Insured

.250

07/15/39

1,486,864

1,750,000

Westfield-Washington Multi-School Building Corporation,

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

- BAM Insured

.250

07/15/41

1,900,966

31,305,000

Whiting, Indiana, Environmental Facilities Refunding Revenue

Bonds, BP Products North America Inc. Project, Refunidng

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

.000

12/01/44

31,721,306

4,310,000

Whiting, Indiana, Environmental Facilities Revenue Bonds, BP

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

Put 6/21/35)

.200

06/01/44

4,511,670

TOTAL INDIANA

219,018,215

IOWA - 0.9%

1,755,000

Iowa City Community School District, Johnson County, Iowa,

General Obligaiton Bonds, School Series 2020 - BAM Insured

.500

06/01/39

1,392,695

7,300,000

Iowa Finance Authority, Health Facilities Revenue Bonds,

UnityPoint Health Project, Series 2014C

.125

02/15/35

7,300,177

5,555,000

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

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

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

12/01/32)

.000

12/01/50

6,039,028

3,305,000

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

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

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

.000

12/01/50

3,807,341

8,930,000

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

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

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

12/01/42)

.000

12/01/50

10,287,309

2,000,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Series 2019D

.600

07/01/37

1,718,163

5,775,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Series 2020A

.750

01/01/50

5,796,004

7,400,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Social Series 2021B

.200

07/01/41

5,395,262

2,250,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Social Series 2021D

.100

07/01/38

1,749,564

2,835,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Social Series 2024C

.500

07/01/44

2,826,458

800,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

06/01/27

826,714

2,100,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

06/01/28

2,210,644

1,600,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

06/01/30

1,731,795

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

IOWA

(continued)

$

1,605,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

%

06/01/31

$

1,750,965

1,610,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

06/01/32

1,741,684

1,000,000

Iowa Tobacco Settlement Authority, Tobacco Settlement Asset-

Backed Bonds, Senior Class 1 Series 2021A-2

.000

06/01/33

1,071,669

8,180,000

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

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

.000

09/01/49

8,324,497

5,000,000

Polk County, Iowa, General Obligation Capital Loan Notes,

Series 2025B

.000

06/01/45

5,256,465

1,000,000

Waterloo Community School District, Iowa, School

Infrastructure Sales, Services and Use Tax Revenue Bonds,

Series 2025 - BAM Insured

.500

07/01/43

1,004,569

TOTAL IOWA

70,231,003

KANSAS - 0.3%

3,635,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/29

3,990,262

5,000,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/30

5,591,291

5,000,000

Kansas Development Finance Authority, Hospital Revenue

Bonds, Advent Health Obligated Group, Series 2021B,

(Mandatory Put 11/15/31)

.000

11/15/54

5,588,965

3,280,000

Kansas Development Finance Authority, Hospital Revenue

Bonds, Advent Health Obligated Group, Series 2021B,

(Mandatory Put 11/15/28)

.000

11/15/54

3,498,773

5,000,000

Manhattan, Kansas, General Obligation Bonds, Temporary

Notes, Series 2024-02 - BAM Insured

.000

06/15/28

5,066,027

2,400,000

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

Sales Tax Special Obligation Bonds, Village East Project Areas

2B 3 and 5, Series 2022

.750

09/01/39

2,475,742

TOTAL KANSAS

26,211,060

KENTUCKY - 2.0%

110,000

Ashland, Kentucky, Medical Center Revenue Bonds, Ashland

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

Project, Refunding Series 2019

.000

02/01/33

110,076

500,000

Ashland, Kentucky, Medical Center Revenue Bonds, Ashland

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

Project, Refunding Series 2019

.000

02/01/34

494,499

180,000

Ashland, Kentucky, Medical Center Revenue Bonds, Ashland

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

Project, Refunding Series 2019

.000

02/01/35

176,145

1,110,000

Ashland, Kentucky, Medical Center Revenue Bonds, Ashland

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

Project, Refunding Series 2019

.000

02/01/36

1,073,842

5,000,000

Carroll County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project, Refunding Series

2006B, (AMT)

.125

10/01/34

4,133,004

21,375,000

Carroll County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project, Series 2008A,

(AMT)

.000

02/01/32

18,858,765

1,000,000

Christian County, Kentucky, Hospital Revenue Bonds, Jennie

Stuart Medical Center, Series 2016

.375

02/01/36

1,003,279

3,505,000

Kentucky Asset/Liability Commission, General Fund Revenue

Project Notes, Federal Highway Trust Fund, First Refunding

Series 2024A

.000

09/01/26

3,578,955

3,200,000

Kentucky Economic Development Finance Authority, Hospital

Revenue Bonds, Owensboro Health, Refunding Series 2017A

.000

06/01/37

3,225,451

1,190,000

Kentucky Economic Development Finance Authority, Hospital

Revenue Bonds, Owensboro Medical Health System, Series

2015A

.500

06/01/46

1,075,830

2,465,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, CommonSpirit Health, Series 2019A-1

.000

08/01/28

2,608,674

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

KENTUCKY

(continued)

$

1,635,000

Kentucky Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2024C

.400

%

07/01/44

$

1,635,593

2,005,000

Kentucky Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2025A

.200

07/01/40

2,020,750

1,000,000

Kentucky Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2025A

.500

07/01/45

999,534

1,000,000

Kentucky Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2025C

.900

07/01/45

1,027,633

4,605,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 119, Series 2018

.000

05/01/37

4,780,958

2,475,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 131, Series 2024A

.000

10/01/28

2,659,917

9,875,000

Louisville and Jefferson County Metropolitan Government

Board of Water Works, Kentucky, Water System Revenue

Bonds, Series 2025

.000

11/15/33

11,506,713

12,025,000

Louisville and Jefferson County Metropolitan Sewer District,

Kentucky, Sewer and Drainage System Revenue Bonds,

Refunding Series 2025A

.000

05/15/33

13,815,599

1,320,000

Louisville Regional Airport Authority, Kentucky, Airport System

Revenue Bonds, Refunding Series 2014A, (AMT)

.000

07/01/26

1,324,111

3,280,000

Louisville Regional Airport Authority, Kentucky, Airport System

Revenue Bonds, Refunding Series 2014A, (AMT)

.000

07/01/28

3,282,218

7,800,000

Louisville/Jefferson County Metro Government, Kentucky,

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

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

.000

10/01/47

8,372,011

7,040,000

Louisville-Jefferson County Metropolitan Government,

Kentucky, Pollution Control Revenue Bonds, Louisville Gas and

Electric Company Project, Series 2003A

.000

10/01/33

6,054,894

1,060,000

Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-

Calloway County Public Hospital Corporation Project,

Refunding Series 2016

.000

08/01/26

1,069,592

1,110,000

Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-

Calloway County Public Hospital Corporation Project,

Refunding Series 2016

.000

08/01/27

1,122,822

1,165,000

Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-

Calloway County Public Hospital Corporation Project,

Refunding Series 2016

.000

08/01/28

1,178,092

1,230,000

Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-

Calloway County Public Hospital Corporation Project,

Refunding Series 2016

.000

08/01/29

1,243,235

2,935,000

Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-

Calloway County Public Hospital Corporation Project,

Refunding Series 2016

.000

08/01/37

2,944,127

15,000,000

Owen County, Kentucky, Waterworks System Revenue Bonds,

Kentucky-American Water Company Project, Refunding Series

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

.450

06/01/39

14,590,406

18,405,000

Public Energy Authority of Kentucky, Gas Supply Revenue

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

.000

01/01/55

19,952,595

3,655,000

Public Energy Authority of Kentucky, Gas Supply Revenue

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

.250

06/01/55

3,921,352

5,940,000

Public Energy Authority of Kentucky, Gas Supply Revenue

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

.000

12/01/50

5,985,026

1,000,000

Public Energy Authority of Kentucky, Gas Supply Revenue

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

.000

08/01/52

1,023,265

3,335,000

Trimble County, Kentucky, Environmental Facilities Revenue

Bonds, Louisville Gas & Electric Company Project, Series

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

.700

06/01/54

3,371,245

4,750,000

Trimble County, Kentucky, Pollution Control Revenue Bonds,

Louisville Gas and Electric Company Project, Series 2016A,

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

.300

09/01/44

4,440,181

1,485,000

University of Kentucky, General Receipts Bonds, Series 2018A

.000

10/01/34

1,451,328

5,320,000

University of Kentucky, General Receipts Bonds, Series 2018A

.125

10/01/37

4,953,292

TOTAL KENTUCKY

161,065,009

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA - 1.8%

$

14,510,000

Calcasieu Parish Memorial Hospital Service District, Louisiana,

Revenue Bonds, Lake Charles Memorial Hospital, Refunding

Series 2019

.000

%

12/01/34

$

14,712,281

8,935,000

Calcasieu Parish Memorial Hospital Service District, Louisiana,

Revenue Bonds, Lake Charles Memorial Hospital, Refunding

Series 2019

.000

12/01/39

8,692,463

2,895,000

East Baton Rouge Parish Capital Improvement District,

Louisiana, Movebr Sales Tax Revenue Bonds, Series 2024

.000

08/01/38

3,218,724

2,080,000

East Baton Rouge Parish Capital Improvement District,

Louisiana, Movebr Sales Tax Revenue Bonds, Series 2024

.000

08/01/39

2,290,801

870,000

Greater New Orleans Expressway Commission, Louisiana, Toll

Revenue Bonds, Subordinate Lien Refunding Series 2025

.000

11/01/42

921,730

2,470,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Home Ownership Program, Series 2021D

.350

12/01/41

1,843,924

3,050,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Home Ownership Program, Series 2024A

.400

12/01/44

3,050,451

2,085,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2025A

.150

12/01/40

2,090,456

3,585,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Series 2025A

.500

12/01/45

3,566,101

1,090,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Bossier City, Louisiana Project, Refunding Series 2025

.000

06/01/33

1,228,668

11,230,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

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

.500

04/01/36

9,400,003

17,010,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Westlake

Chemical Corporation Projects, Refunding Series 2017

.500

11/01/32

16,626,613

1,430,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/28

1,475,555

1,065,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/29

1,098,352

1,185,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/30

1,221,521

1,755,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/31

1,806,771

1,140,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/32

1,171,336

2,695,000

Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2017

.000

05/15/46

2,698,858

1,000,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2025B

.000

05/15/30

1,083,603

1,000,000

(g) Louisiana Public Facilities Authority, Revenue Bonds,

Archdiocese of New Orleans, Refunding Series 2017

.000

07/01/37

335,000

25,000

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

Clinic Foundation Project, Refunding Series 2016, (Pre-

refunded 5/15/26)

.000

05/15/30

25,368

1,110,000

Louisiana Public Facilities Authority, Revenue Bonds, Ochsner

Clinic Foundation Project, Refunding Series 2016

.000

05/15/30

1,124,242

35,000

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

Clinic Foundation Project, Refunding Series 2016, (Pre-

refunded 5/15/26)

.000

05/15/32

35,515

3,430,000

Louisiana Public Facilities Authority, Revenue Bonds, Ochsner

Clinic Foundation Project, Refunding Series 2016

.000

05/15/32

3,470,567

40,000

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

Clinic Foundation Project, Refunding Series 2016, (Pre-

refunded 5/15/26)

.000

05/15/33

40,588

3,915,000

Louisiana Public Facilities Authority, Revenue Bonds, Ochsner

Clinic Foundation Project, Refunding Series 2016

.000

05/15/33

3,958,622

1,100,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

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

Project, Senior Lien Series 2024, (AMT)

.500

09/01/54

1,115,181

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA

(continued)

$

930,000

Louisiana State, Gasoline and Fuels Tax Revenue Bonds,

Refunding Second Lien Series 2025A

.000

%

05/01/40

$

920,974

5,000,000

Louisiana State, General Obligation Bonds, Series 2016A

.000

09/01/34

5,083,402

900,000

New Orleans Aviation Board, Louisiana, General Airport

Revenue Bonds, Louis Armstrong New Orleans International

Airport, Series 2023B, (AMT)

.000

01/01/37

959,583

980,000

New Orleans Aviation Board, Louisiana, General Airport

Revenue Bonds, Louis Armstrong New Orleans International

Airport, Series 2023B, (AMT)

.000

01/01/39

1,028,173

1,420,000

New Orleans Aviation Board, Louisiana, General Airport

Revenue Bonds, Louis Armstrong New Orleans International

Airport, Series 2023B, (AMT)

.000

01/01/40

1,472,414

5,195,000

New Orleans, Louisiana, General Obligation Bonds, Public

Improvement Series 2021A

.000

12/01/26

5,340,805

6,105,000

New Orleans, Louisiana, General Obligation Bonds, Public

Improvement Series 2024A

.000

12/01/40

6,496,349

480,000

New Orleans, Louisiana, General Obligation Bonds, Refunding

Series 2015

.000

12/01/25

481,766

795,000

New Orleans, Louisiana, General Obligation Bonds, Refunding

Series 2015

.000

12/01/27

798,127

3,265,000

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

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

.100

12/01/40

3,534,588

2,050,000

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

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

.000

08/01/41

2,056,332

2,195,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

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

(Mandatory Put 7/01/26)

.375

06/01/37

2,187,236

17,110,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017C,

(Mandatory Put 7/03/28)

.300

06/01/37

17,333,886

1,375,000

Saint Tammany Parish Hospital Service District 2, Louisiana,

General Obligation Bonds, Series 2025 - BAM Insured

.000

03/01/33

1,539,290

760,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/26

778,765

1,475,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/29

1,565,435

1,500,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/30

1,591,812

1,795,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/32

1,878,912

1,630,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/33

1,652,195

6,005,000

Shreveport, Louisiana, Water and Sewer Revenue Bonds, Junior

Lien Series 2019B - AGM Insured

.000

12/01/35

5,664,217

TOTAL LOUISIANA

150,667,555

MAINE - 0.5%

4,645,000

Maine Health and Higher Educational Facilities Authority

Revenue Bonds, Eastern Maine Medical Center Obligated

Group Issue, Series 2016A

.000

07/01/41

3,823,078

5,685,000

Maine Health and Higher Educational Facilities Authority

Revenue Bonds, Eastern Maine Medical Center Obligated

Group Issue, Series 2016A

.000

07/01/46

4,478,752

840,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, MaineHealth Issue, Series 2020A

.000

07/01/37

845,873

200,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, Series 2021A - AGM Insured

.000

07/01/26

203,373

165,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, Series 2021A - AGM Insured

.000

07/01/27

171,775

240,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, Series 2021A - AGM Insured

.000

07/01/28

256,089

685,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, Series 2021A - AGM Insured

.500

07/01/29

684,981

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MAINE

(continued)

$

200,000

Maine Health and Higher Educational Facilities Authority,

Revenue Bonds, Series 2021A - AGM Insured

.000

%

07/01/30

$

221,884

10,000,000

Maine State Housing Authority, Multifamily Mortgage Purchase

Bonds, Series 2020B

.350

11/15/40

7,642,659

3,125,000

Maine State Housing Authority, Multifamily Mortgage Purchase

Bonds, Series 2021A

.050

11/15/41

2,145,744

7,425,000

Maine State Housing Authority, Multifamily Mortgage Purchase

Bonds, Series 2022A

.400

11/15/41

5,463,138

6,280,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Series 2020D

.550

11/15/40

4,886,614

3,250,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Series 2021B

.200

11/15/41

2,335,942

10,675,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2021C

.150

11/15/41

7,538,010

3,000,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2021D

.400

11/15/41

2,258,711

1,205,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2024C

.550

11/15/44

1,201,323

TOTAL MAINE

44,157,946

MARYLAND - 1.6%

5,140,000

Anne Arundel County, Maryland, General Obligation Bonds,

Consolidated General Improvement, Series 2024

.000

10/01/36

5,870,104

5,000,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Series 2025

.000

03/01/33

5,790,534

5,505,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Series 2025

.000

03/01/36

6,373,167

1,270,000

Baltimore County, Maryland, Revenue Bonds, Oak Crest

Village, Series 2016

.250

01/01/31

1,263,641

3,365,000

Baltimore County, Maryland, Revenue Bonds, Oak Crest

Village, Series 2016

.000

01/01/37

3,372,741

1,760,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/27

1,796,915

2,780,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/29

2,837,052

1,000,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/30

1,020,283

1,365,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/31

1,389,924

145,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/34

146,677

1,500,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/39

1,500,614

2,800,000

Charles County, Maryland, General Obligation Bonds,

Refunding & Consolidated Public Improvement Series 2017

.400

10/01/29

2,756,498

3,000,000

Howard County Housing Commission, Maryland, Revenue

Bonds, Columbia Landing Project, Refunding Series 2021A

.600

06/01/29

2,794,904

5,000,000

Howard County, Maryland, General Obligation Bonds,

Consolidated Public Improvement Project, Series 2018A

.000

02/15/30

5,030,606

22,335,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2019C

.000

09/01/39

19,704,578

10,375,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2020A

.500

09/01/40

7,985,867

15,055,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021A

.950

09/01/41

10,192,595

13,245,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021B

.100

09/01/41

9,287,709

20,000,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021C

.450

09/01/41

15,235,396

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MARYLAND

(continued)

$

1,000,000

Maryland Economic Development Corporation, Student

Housing Revenue Bonds, University of Maryland, College Park

Project, Refunding Series 2016 - AGM Insured

.000

%

06/01/28

$

1,013,647

7,010,000

Maryland Health and HIgher Educational Facilities

Authority, Revenue Bonds, University of Maryland Medical

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

.000

07/01/45

7,175,039

4,400,000

Maryland Health and Higher Educational Facilities

Authority, Revenue Bonds, University of Maryland Medical

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

.000

07/01/45

4,821,353

805,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Mercy Medical Center, Series 2016A

.000

07/01/32

816,041

2,250,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Mercy Medical Center, Series 2016A

.000

07/01/33

2,278,678

1,650,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Mercy Medical Center, Series 2016A

.000

07/01/34

1,669,444

2,000,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Mercy Medical Center, Series 2016A

.000

07/01/35

2,021,557

1,570,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Mercy Medical Center, Series 2016A

.000

07/01/36

1,585,581

1,000,000

Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Adventist HealthCare Issue, Series 2021B

.000

01/01/39

948,024

4,910,000

Maryland Transportation Authority, Revenue Bonds,

Transportation Facilities Projects, Refunding Series 2024A

.000

07/01/37

5,577,014

TOTAL MARYLAND

132,256,183

MASSACHUSETTS - 2.4%

10,790,000

Boston, Massachusetts, General Obligation Bonds, Series

2025A

.000

02/01/36

12,393,015

14,750,000

Boston, Massachusetts, General Obligation Bonds, Series

2025A

.000

02/01/37

16,793,691

1,000,000

Brookline, Massachusetts, General Obligation Bonds,

Municipal Purpose Loan Series 2025

.000

05/15/43

988,056

4,000,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/32

4,621,762

835,000

Massachusetts Development Finance Agency Revenue Bonds,

Lawrence General Hospital Issue, Series 2014A

.000

07/01/26

832,529

680,000

Massachusetts Development Finance Agency Revenue Bonds,

Lawrence General Hospital Issue, Series 2014A

.000

07/01/27

674,719

925,000

Massachusetts Development Finance Agency Revenue Bonds,

Lawrence General Hospital Issue, Series 2014A

.000

07/01/28

910,766

960,000

Massachusetts Development Finance Agency Revenue Bonds,

Lawrence General Hospital Issue, Series 2014A

.000

07/01/29

939,486

4,800,000

(d) Massachusetts Development Finance Agency Revenue

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

2017

.000

10/01/32

4,830,753

1,968,811

(d),(g)

Massachusetts Development Finance Agency, Health Care

Facility Revenue Bonds, Adventcare Project, Series 2007A

.650

10/15/28

1,295,000

Massachusetts Development Finance Agency, Revenue Bonds,

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

.000

11/01/55

1,506,998

1,925,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2016E

.375

07/01/36

1,824,409

6,950,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston University, Refunding Series 2025B-1

.000

10/01/39

7,747,970

2,300,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/33

2,414,920

1,085,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/38

1,119,730

16,815,000

Massachusetts Development Finance Agency, Revenue Bonds,

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

.000

05/15/55

19,539,375

415,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

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

refunded 7/15/30)

.000

07/15/32

461,750

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MASSACHUSETTS

(continued)

$

320,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

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

refunded 7/15/30)

.000

%

07/15/33

$

356,048

300,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

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

refunded 7/15/30)

.000

07/15/34

333,795

270,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

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

refunded 7/15/30)

.000

07/15/35

300,416

135,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

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

refunded 7/15/30)

.000

07/15/36

150,208

145,000

(e) Massachusetts Development Finance Agency, Revenue Bonds,

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

refunded 7/15/30)

.000

07/15/37

161,334

250,000

Massachusetts Development Finance Agency, Revenue Bonds,

Phillips Academy, Refunding Series 2024A

.000

09/01/30

281,913

425,000

Massachusetts Development Finance Agency, Revenue Bonds,

Phillips Academy, Refunding Series 2024A

.000

09/01/32

490,795

1,080,000

Massachusetts Development Finance Agency, Revenue Bonds,

Simmons University Issue, Series 2018L

.000

10/01/30

1,106,714

1,240,000

Massachusetts Development Finance Agency, Revenue Bonds,

Simmons University Issue, Series 2018L

.000

10/01/31

1,265,549

1,775,000

Massachusetts Development Finance Agency, Revenue Bonds,

Simmons University Issue, Series 2018L

.000

10/01/32

1,804,387

1,130,000

Massachusetts Development Finance Agency, Revenue Bonds,

Southcoast Health System Obligated Group Issue, Series

2021G

.000

07/01/35

1,215,173

1,045,000

Massachusetts Development Finance Agency, Revenue Bonds,

Southcoast Health System Obligated Group Issue, Series

2021G

.000

07/01/36

1,116,182

4,250,000

Massachusetts Development Finance Agency, Revenue Bonds,

UMass Memorial Health Care Obligated Group Issue, Series

2017L

.625

07/01/37

3,795,888

4,245,000

Massachusetts Development Finance Agency, Revenue Bonds,

Wellforce Issue, Series 2019A

.000

07/01/37

3,980,081

1,640,000

Massachusetts Housing Finance Agency, Housing Bonds,

Series 2019B-1

.000

12/01/39

1,419,896

2,875,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2021A-1

.125

12/01/41

2,034,511

2,100,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2023A-3

.050

12/01/27

2,109,227

3,000,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Series 2019C-1

.900

12/01/39

2,468,663

1,900,000

Massachusetts Housing Finance Agency, Multifamily Housing

Bonds, Green Sustainability Series 2024A1

.550

12/01/44

1,905,361

5,350,000

Massachusetts Housing Finance Agency, Multifamily Housing

Bonds, Green Sustainability Series 2024B3

.500

06/01/29

5,408,359

7,570,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Series 2019-214

.800

12/01/39

6,259,553

2,330,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Series 2020-218

.300

12/01/40

1,766,245

4,930,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2020-220

.125

12/01/40

3,552,090

4,935,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2021-221

.200

12/01/41

3,578,231

2,935,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2021-223

.350

06/01/39

2,416,802

1,555,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2024-234

.100

12/01/39

1,536,211

5,555,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/33

6,426,444

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MASSACHUSETTS

(continued)

$

14,035,000

Massachusetts State, General Obligation Bonds, Consolidated

Loan Series 2025B

.000

%

06/01/33

$

16,297,907

8,680,000

Massachusetts State, General Obligation Bonds, Consolidated

Loan Series 2025B

.000

06/01/34

10,137,753

2,800,000

Massachusetts State, General Obligation Bonds, Refunding

Series 2024B

.000

11/01/37

3,152,938

2,800,000

Massachusetts State, General Obligation Bonds, Refunding

Series 2024B

.000

11/01/38

3,122,694

12,115,000

Massachusetts State, Special Obligation Dedicated Tax

Revenue Bonds, Refunding Series 2005 - BAM Insured

.500

01/01/34

13,934,710

6,750,000

Quincy, Massachusetts, General Obligation Bonds, Bonds

Anticipation Notes Series 2025

.000

07/24/26

6,881,304

7,000,417

Somerville, Massachusetts, General Obligation Bonds, Bond

Anticipation Notes Series 2025B

.000

07/01/26

7,122,418

TOTAL MASSACHUSETTS

195,489,749

MICHIGAN - 2.4%

685,000

Marquettte, Michigan, Electric Utility System Revenue Bonds,

Refunding Series 2016A

.000

07/01/30

694,814

1,315,000

Michigan Finance Authority, Hospital Revenue Bonds,

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

11/16/26)

.000

11/15/44

1,325,442

11,740,000

Michigan Finance Authority, Hospital Revenue Bonds, McLaren

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

4/13/28)

.200

10/15/30

11,183,593

17,365,000

Michigan Finance Authority, Hospital Revenue Bonds, McLaren

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

4/13/28)

.200

10/15/38

16,501,319

1,000,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/32

1,126,950

1,500,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/33

1,698,090

1,230,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/34

1,394,409

10,625,000

Michigan Finance Authority, Michigan, Revenue Bonds, Trinity

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

Put 12/01/28)

.000

12/01/43

11,254,369

1,800,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/28

1,887,753

2,500,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/33

2,649,033

2,435,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/34

2,440,534

1,000,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/35

993,617

2,470,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2018A

.800

10/01/38

2,413,238

8,730,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2021A

.250

10/01/41

6,347,016

7,700,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2024A

.700

04/01/30

7,715,385

2,255,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Fixed Rate Series 2018C

.650

12/01/39

2,113,826

13,000,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2019B

.950

12/01/39

10,782,563

25,205,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2020C

.600

12/01/40

19,631,733

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MICHIGAN

(continued)

$

9,620,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2021A

.150

%

12/01/41

$

6,788,676

20,000,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2025I

.000

04/15/33

23,067,508

22,850,000

Michigan Strategic Fund, Limited Obligation Pollution Control

Revenue Refunding Bonds, Detroit Edison Company, Variable

Rate Demand Obligations, Series 1995CC

.450

09/01/30

20,351,266

21,550,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Detroit Edison Company Exempt Facilities Project, Refunding

Variable Rate Series 2008ET-2

.350

08/01/29

19,659,515

2,255,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Graphic Packaging International, LLC Coated Recycled Board

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

10/01/26)

.000

10/01/61

2,254,053

8,125,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Refunding Series

2015F, (AMT)

.000

12/01/28

8,152,716

3,765,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Refunding Series

2015F, (AMT)

.000

12/01/32

3,773,318

5,295,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Refunding Series

2015F, (AMT)

.000

12/01/33

5,305,561

5,000,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Refunding Series

2015F, (AMT)

.000

12/01/34

5,008,936

TOTAL MICHIGAN

196,515,233

MINNESOTA - 1.7%

1,910,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A

.000

02/15/33

1,986,654

1,150,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A

.000

02/15/37

1,182,686

7,135,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A

.250

02/15/43

6,729,156

7,550,000

Edina Independent School District 273, Hennepin County,

Minnesota, General Obligation Bonds, Facilities Maintenance

Capital Notes Alternative Facilities and School Building

Refunding Series 2024A

.000

02/01/28

7,990,795

6,585,000

Edina Independent School District 273, Hennepin County,

Minnesota, General Obligation Bonds, Facilities Maintenance

Capital Notes Alternative Facilities and School Building

Refunding Series 2024A

.000

02/01/36

6,369,043

12,490,000

Minneapolis, Minnesota, Health Care System Revenue Bonds,

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

.000

11/15/52

13,196,808

1,370,000

Minneapolis-Saint Paul Housing and Redevelopment Authority,

Minnesota, Health Care System Revenue Bonds, Allina Health

System, Refunding Series 2017A

.000

11/15/28

1,415,588

5,000,000

Minneapolis-Saint Paul Metropolitan Council, Minnesota,

General Obligation Wastewater Revenue Bonds, Series 2015C

.500

03/01/28

5,002,810

1,000,000

Minneapolis-St. Paul Metropolitan Airports Commission,

Minnesota, Airport Revenue Bonds, Refunding Subordinate

Lien Series 2019B, (AMT)

.000

01/01/27

1,025,156

1,000,000

Minneapolis-St. Paul Metropolitan Airports Commission,

Minnesota, Airport Revenue Bonds, Subordinate Lien Series

2022B, (AMT)

.000

01/01/31

1,095,209

3,222,870

Minnesota Housing Finance Agency, Homeownership Finance

Bonds, Mortgage-Backed Securities Program, Series 2017E

.850

06/01/47

2,762,317

2,450,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2013C

.900

07/01/43

2,269,011

6,065,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020B

.625

01/01/40

4,818,627

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA

(continued)

$

5,140,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020B

.500

%

07/01/50

$

5,139,085

5,430,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020E

.500

07/01/40

4,205,763

4,605,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020I

.000

07/01/40

3,207,831

4,110,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2021D

.200

07/01/41

2,996,558

9,245,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2021H

.350

07/01/41

6,935,887

10,070,000

Minnesota State, Certificates of Participation, State Office

Building Project, Series 2023

.000

11/01/36

11,375,387

10,060,000

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

Highway Series 2021B

.000

08/01/32

11,569,670

14,745,000

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

Highway Series 2021B

.000

08/01/33

17,106,154

4,160,000

Rochester, Minnesota, Health Care Facilities Revenue Bonds,

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

.000

11/15/55

4,664,900

6,445,000

Saint Paul Independent School District 625, Ramsey County,

Minnesota, Certificates of Participation, Series 2018B

.500

02/01/39

6,267,607

2,650,000

White Bear Lake Independent School District 624, Ramsey

County, Minnesota, General Obligation Bonds, Facilities

Maintenance Series 2021A

.000

02/01/28

2,549,165

3,095,000

White Bear Lake Independent School District 624, Ramsey

County, Minnesota, General Obligation Bonds, Facilities

Maintenance Series 2021A

.000

02/01/29

2,930,890

4,135,000

White Bear Lake Independent School District 624, Ramsey

County, Minnesota, General Obligation Bonds, Facilities

Maintenance Series 2021A

.000

02/01/30

3,855,185

TOTAL MINNESOTA

138,647,942

MISSISSIPPI - 0.3%

5,595,000

Mississippi Business Finance Corporation, Pollution Control

Revenue, Mississippi Power, Series 2002

.200

09/01/28

5,596,451

1,000,000

Mississippi Business Finance Corporation, Revenue Bonds,

System Energy Resources, Inc. Project, Refunding Series 2021

.375

06/01/44

626,760

2,490,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2020A

.450

12/01/39

2,058,445

1,975,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2020A

.750

06/01/49

1,989,447

1,470,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2021A

.000

12/01/40

1,043,373

2,830,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2024A

.000

12/01/39

2,789,610

6,560,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2024C

.650

12/01/44

6,662,439

2,000,000

Mississippi State, Gaming Tax Revenue Bonds, Series 2019A

.000

10/15/37

2,062,716

1,590,000

Mississippi State, Gaming Tax Revenue Bonds, Series 2019A

.000

10/15/38

1,556,247

1,000,000

Mississippi State, General Obligation Bonds, Refunding Series

2015C

.000

10/01/25

1,000,000

TOTAL MISSISSIPPI

25,385,488

MISSOURI - 1.4%

920,000

Cape Girardeau County Industrial Development Authority,

Missouri, Health Facilities Revenue Bonds, Southeasthealth,

Series 2016A

.000

03/01/33

930,681

1,000,000

Curators of the University of Missouri, System Facilities

Revenue Bonds, Series 2024

.000

11/01/34

1,173,167

3,730,000

Kansas City Industrial Development Authority, Missouri, Airport

Special Obligation Bonds, Kansas City International Airport

Project, Refunding Series 2019A, (AMT)

.000

03/01/38

3,824,206

8,000,000

Kansas City, Missouri, Sanitary Sewer System Revenue Bonds,

Refunding & Improvement Series 2016A

.000

01/01/40

7,990,382

4,595,000

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

.000

12/01/39

4,574,139

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MISSOURI

(continued)

$

4,000,000

Ladue School District, Saint Louis County, Missouri, General

Obligation Bonds, Series 2021

.000

%

03/01/32

$

3,639,505

3,000,000

Lees Summit Industrial Development Authority, Missouri,

Revenue Bonds, John Knox Village, Series 2024A

.000

08/15/39

3,077,658

10,425,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Refunding Series 1998A

.900

09/01/33

9,658,462

12,000,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998B

.900

09/01/33

11,117,654

15,240,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998C

.750

09/01/33

14,100,012

12,105,000

Missouri Health and Educational Facilities Authority, Health

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

(Mandatory Put 5/01/26)

.000

05/01/51

12,193,393

2,520,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Series 2025A

.000

04/01/45

2,321,567

11,970,000

Missouri Health and Educational Facilities Authority, Health

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

(Mandatory Put 4/01/35)

.000

04/01/59

13,489,413

1,010,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024C

.550

11/01/44

1,007,120

5,085,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024E

.450

11/01/44

5,045,146

2,990,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024G

.950

11/01/39

2,938,388

3,530,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2019C

.750

11/01/39

3,048,646

1,500,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2020A

.550

11/01/40

1,167,690

1,015,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2021A

.150

11/01/41

717,134

4,215,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2021B

.000

11/01/41

2,888,928

6,375,000

North Kansas City School District 74, Missouri, General

Obligation Bonds, Improvement Series 2025

.000

03/01/44

6,804,230

935,000

Stoddard County Industrial Development Authority, Missouri,

Health Facility Revenue Bonds, Southeasthealth, Series 2016B

.000

03/01/37

944,718

TOTAL MISSOURI

112,652,239

MONTANA - 0.5%

1,505,000

Cascade County High School District A Great Falls, Montana,

General Obligation Bonds, School Buidling Series 2018

.000

07/01/38

1,556,757

740,000

Flathead County School District 44 Whitefish, Montana,

General Obligation Bonds, School Building Series 2025 - BAM

Insured

.000

07/01/34

849,855

695,000

Flathead County School District 44 Whitefish, Montana,

General Obligation Bonds, School Building Series 2025 - BAM

Insured

.000

07/01/36

796,593

485,000

Flathead County School District 44 Whitefish, Montana,

General Obligation Bonds, School Building Series 2025 - BAM

Insured

.000

07/01/38

544,031

25,675,000

Forsyth, Montana Pollution Control Revenue Bonds, Portland

General Electric Company Project, Refunding Series 1998A

.125

05/01/33

22,462,300

2,700,000

Forsyth, Rosebud County, Montana, Pollution Control Revenue

Refunding Bonds, Northwestern Corporation Colstrip Project,

Series 2023

.875

07/01/28

2,755,732

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MONTANA

(continued)

$

1,000,000

Gallatin County School District 44 Belgrade, Montana, General

Obligation Bonds, School Building Series 2019

.000

%

06/01/33

$

1,032,073

215,000

Missoula City, Montana, Water System Revenue Bonds, Series

2019A

.000

07/01/44

206,250

1,045,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2021A-1

.000

12/01/41

715,281

1,720,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2021B

.000

12/01/41

1,177,305

1,000,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2024A

.950

12/01/39

983,569

1,000,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2024A

.450

12/01/44

991,642

490,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2024B

.900

12/01/39

478,481

810,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2024B

.300

12/01/44

795,066

2,000,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2025A

.250

12/01/40

2,017,992

565,000

Montana Facility Finance Authority, Montana, Health Facilities

Reveue Bonds, Bozeman Deaconess Health Services Obligated

Group, Series 2018

.250

06/01/32

560,840

1,875,000

Montana Facility Finance Authority, Revenue Bonds, Benefis

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

2/15/30)

.000

02/15/65

2,040,178

TOTAL MONTANA

39,963,945

NATIONAL - 0.5%

18,650,000

(d) Federal Home Loan Mortgage Corporation, National,

Multifamily Variable Rate Certificates Relating to Corporate

Taxable Debt Series 2019

.150

01/15/36

16,869,906

18,444,716

Federal Home Loan Mortgage Corporation, National,

Multifamily Variable Rate Certificates Relating to Municipal

Securities Class A Series 2019M-053

.550

06/15/35

16,411,062

5,023,457

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

2019A

.400

01/25/36

4,769,645

TOTAL NATIONAL

38,050,613

NEBRASKA - 0.9%

6,640,000

Central Plains Energy Project, Nebraska, Gas Project 4 Revenue

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

.000

05/01/54

7,116,536

2,025,000

Douglas County Hospital Authority 2, Nebraska, Hospital

Revenue Bonds, Madonna Rehabilitation Hospital Project,

Series 2014

.000

05/15/28

2,026,651

8,520,000

Douglas County Hospital Authority 2, Nebraska, Hospital

Revenue Bonds, Madonna Rehabilitation Hospital Project,

Series 2014

.000

05/15/44

8,389,685

1,000,000

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

.000

07/01/36

995,716

750,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/26

750,546

200,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/27

200,126

835,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/28

835,501

485,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/29

485,283

1,000,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/30

1,000,517

180,000

Madison County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Faith Regional Health Services Project, Series

2018

.000

07/01/33

180,064

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEBRASKA

(continued)

$

160,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2019D

.600

%

09/01/34

$

144,007

7,205,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2019D

.850

09/01/39

6,025,013

10,000,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2020A

.550

09/01/40

7,742,332

595,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2021A

.950

09/01/37

470,739

17,770,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2021C

.300

09/01/41

13,078,464

2,290,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2023A

.125

09/01/38

2,289,402

1,580,000

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

General Obligation Bonds, Refunding Series 2020B

.000

12/01/26

1,608,686

1,775,000

Sarpy County School District 037 Gretna Public Schools,

Nebraska, General Obligation Bonds, Refunding Series 2019

.000

06/15/33

1,822,826

2,240,000

Sarpy County, Nebraska, Limited Tax Highway Allocation Fund

Pledge Bonds, Series 2021

.000

06/01/27

2,196,959

6,320,000

Saunders County School District 1, Ashland-Greenwood,

Nebraska, General Obligation Bonds, Series 2021

.000

12/15/50

3,347,770

3,660,000

Scotts Bluff County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Regional West Medical Center Project,

Refunding & Improvement Series 2016A

.250

02/01/28

3,684,991

1,355,000

Scotts Bluff County Hospital Authority 1, Nebraska, Hospital

Revenue Bonds, Regional West Medical Center Project,

Refunding & Improvement Series 2016A

.250

02/01/29

1,362,403

5,885,000

Southeast Community College Area, Nebraska, Certificates of

Participation, Series 2018

.375

12/15/37

5,727,414

TOTAL NEBRASKA

71,481,631

NEVADA - 0.3%

1,875,000

(c),(d)

Director of the State of Nevada Department of Business and

Industry, Solid Waste Disposal Revenue Bonds, Republic

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

(Mandatory Put 12/01/25)

.950

12/01/26

1,874,755

1,615,000

Henderson, Nevada, Limited Obligation Bonds, Local

Improvement District T-18 Inspirada, Refunding Series 2016

.000

09/01/32

1,590,624

2,095,000

Henderson, Nevada, Limited Obligation Bonds, Local

Improvement District T-18 Inspirada, Refunding Series 2016

.000

09/01/35

1,999,001

3,585,000

Las Vegas Convention and Visitors Authority, Nevada, Revenue

Bonds, Refunding Series 2017B

.000

07/01/34

3,615,421

2,860,000

Nevada Housing Division, Single Family Housing Mortgage

Revenue Bonds, Refunding Series 2021A

.200

10/01/41

2,078,360

3,670,000

Nevada Housing Division, Single Family Housing Mortgage

Revenue Bonds, Senior Series 2025C

.750

10/01/40

3,768,365

860,000

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

Improvement District 1 Legends at Sparks Marina, Refunding

Senior Series 2019A

.750

06/15/28

845,691

6,760,000

Washoe County School District, Nevada, General Obligation

Bonds, Limited Tax Improvement Series 2024B

.000

06/01/38

6,012,010

4,000,000

Washoe County, Nevada, Gas and Water Facilities Revenue

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

(Mandatory Put 10/01/29)

.625

03/01/36

4,043,936

TOTAL NEVADA

25,828,163

NEW HAMPSHIRE - 1.4%

16,740,139

National Finance Authority, New Hampshire, Municipal

Certificates Series 2020-1 Class A

.125

01/20/34

16,840,054

15,190,140

National Finance Authority, New Hampshire, Municipal

Certificates Series 2022-2 Class A

.000

10/20/36

14,585,121

2,922,874

National Finance Authority, New Hampshire, Municipal

Certificates Social Series 2023-2 Class A

.875

01/20/38

2,715,277

12,815,961

National Finance Authority, New Hampshire, Municipal

Certificates Social Series 2024-1 Class A

.250

07/01/51

12,450,233

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW HAMPSHIRE

(continued)

$

5,569,459

National Finance Authority, New Hampshire, Municipal

Certificates Social Series 2024-2 Class A

.625

%

08/20/39

$

5,215,382

5,755,371

National Finance Authority, New Hampshire, Municipal

Certificates Social Series 2024-4 Class A

.180

11/20/39

5,634,037

6,395,000

National Finance Authority, New Hampshire, Solid Waste

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

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

.000

10/01/33

6,399,200

14,000,000

New Hampshire Business Finance Authority, Pollution Control

Revenue Bonds, United Illuminating Company, Refunding

Series 2003A

.500

10/01/33

14,657,141

1,145,000

(e) New Hampshire Business Finance Authority, Water Facility

Revenue Bonds, Pennichuck Water Works Inc. Project , Series

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

.250

01/01/36

1,147,981

1,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Concord Hospital, Series 2021A

.000

10/01/32

1,035,714

1,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Concord Hospital, Series 2021A

.000

10/01/34

1,020,137

1,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Concord Hospital, Series 2021A

.000

10/01/38

983,188

4,305,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth College, Series 2025A

.000

06/01/35

4,992,519

2,830,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth-Hitchcock Obligated Group, Series

2025

.000

08/01/32

3,159,790

1,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Elliot Hospital, Series 2016

.000

10/01/38

1,005,916

1,465,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Southern New Hampshire Medical Center,

Series 2016

.500

10/01/34

1,457,912

1,515,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2024A

.050

07/01/39

1,508,888

1,965,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2024A

.500

07/01/44

1,948,660

10,370,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2024C

.450

07/01/44

10,283,431

2,505,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2025A

.150

07/01/40

2,514,691

2,380,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2025A

.500

07/01/45

2,365,049

TOTAL NEW HAMPSHIRE

111,920,321

NEW JERSEY - 2.9%

1,580,000

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

Obligation Bonds, General Capital and Water Utility Series

2021

.000

09/01/32

1,427,103

1,220,000

Clifton, New Jersey, General Obligation Bonds, Refunding

Series 2021 - BAM Insured

.000

08/15/29

1,159,311

2,075,000

Clifton, New Jersey, General Obligation Bonds, Refunding

Series 2021 - BAM Insured

.000

08/15/30

1,935,738

2,060,000

Clifton, New Jersey, General Obligation Bonds, Refunding

Series 2021 - BAM Insured

.000

08/15/31

1,875,382

2,390,000

East Brunswick Township, Middlesex County, New Jersey,

General Obligation Bonds, Series 2020

.000

07/15/30

2,254,048

1,095,000

East Brunswick Township, Middlesex County, New Jersey,

General Obligation Bonds, Series 2021

.000

02/15/26

1,089,732

1,385,000

East Brunswick Township, Middlesex County, New Jersey,

General Obligation Bonds, Series 2021

.000

02/15/27

1,362,655

1,355,000

East Brunswick Township, Middlesex County, New Jersey,

General Obligation Bonds, Series 2021

.000

02/15/30

1,284,561

1,410,000

Flemington-Raritan Regional School District, Hunterdon

County, New Jersey, General Obligation Bonds, Series 2019

.375

09/01/34

1,233,864

1,585,000

Gloucester Township, New Jersey, General Obligation Bonds,

Series 2019 - BAM Insured

.250

02/01/29

1,536,151

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW JERSEY

(continued)

$

1,435,000

Montclair Township Board of Education, Essex County, New

Jersey, General Obligation Bonds, School Series 2025

.250

%

08/01/43

$

1,428,815

2,600,000

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

Dock and Wharf Facility Revenue Bonds, Repauno Port & Rail

Terminal Project, Series 2025, (AMT)

.375

01/01/35

2,688,660

4,115,000

New Jersey Economic Development Authority, New Jersey,

Transit Transportation Project Revenue Bonds, Series 2020A

.000

11/01/32

4,454,490

1,555,000

New Jersey Economic Development Authority, Private Activity

Bonds, The Goethals Bridge Replacement Project, Series 2013,

(AMT)

.000

01/01/28

1,557,983

2,345,000

New Jersey Economic Development Authority, Private Activity

Bonds, The Goethals Bridge Replacement Project, Series 2013

- AGM Insured, (AMT)

.000

01/01/31

2,349,760

2,000,000

New Jersey Economic Development Authority, Private Activity

Bonds, The Goethals Bridge Replacement Project, Series 2013,

(AMT)

.375

01/01/43

2,001,578

7,290,000

New Jersey Economic Development Authority, Revenue Bonds,

Motor Vehicle Surcharge, Refunding Subordinate Series 2017A

.375

07/01/30

7,235,934

25,000,000

New Jersey Economic Development Authority, School Facilities

Construction Bonds, Refunding Series 2015XX

.000

06/15/27

25,024,723

700,000

New Jersey Economic Development Authority, School Facilities

Construction Bonds, Social Series 2021QQQ

.000

06/15/26

711,460

140,000

New Jersey Economic Development Authority, School Facilities

Construction Bonds, Social Series 2021QQQ

.000

06/15/27

145,787

430,000

New Jersey Economic Development Authority, School Facilities

Construction Bonds, Social Series 2021QQQ

.000

06/15/28

457,858

5,000,000

New Jersey Economic Development Authority, Special Facility

Revenue Bonds, Port Newark Container Terminal LLC Project,

Refunding Series 2017, (AMT)

.000

10/01/47

4,948,527

37,560,000

New Jersey Economic Development Authority, Water Facilities

Revenue Bonds, New Jersey-American Water Company Inc.

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

12/03/29)

.200

10/01/39

34,596,463

5,310,000

New Jersey Economic Development Authority, Water Facilities

Revenue Bonds, New Jersey-American Water Company

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

6/01/28)

.750

11/01/34

5,357,505

6,510,000

New Jersey Educational Facilities Authority, Revenue Bonds,

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

.000

07/01/64

7,493,096

3,345,000

New Jersey Health Care Facilities Authority, Revenue Bonds,

Atlanticare Health System Obligated Group Issue, Series 2021

.375

07/01/46

2,119,550

1,230,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Saint Joseph's Healthcare System Obligated Group

Issue, Refunding Series 2016

.000

07/01/35

1,234,773

205,000

New Jersey Higher Education Student Assistance Authority,

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

(AMT)

.500

12/01/29

204,922

530,000

New Jersey Higher Education Student Assistance Authority,

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

(AMT)

.750

12/01/31

529,917

540,000

New Jersey Higher Education Student Assistance Authority,

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

(AMT)

.000

12/01/32

540,064

235,000

New Jersey Higher Education Student Assistance Authority,

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

(AMT)

.750

12/01/33

234,897

515,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Series 2018A

.750

10/01/35

516,637

1,100,000

New Jersey Institute of Technology, New Jersey, General

Obligation Bonds, Series 2025A - BAM Insured

.000

07/01/36

1,270,748

915,000

New Jersey Institute of Technology, New Jersey, General

Obligation Bonds, Series 2025A - BAM Insured

.000

07/01/37

1,045,868

155,000

New Jersey Transportation Trust Fund Authority, Federal

Highway Reimbursement Revenue Notes, Series 2016A-1

.000

06/15/29

157,521

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW JERSEY

(continued)

$

3,015,000

New Jersey Transportation Trust Fund Authority, Federal

Highway Reimbursement Revenue Notes, Series 2018A

.000

%

06/15/28

$

3,064,363

6,800,000

New Jersey Transportation Trust Fund Authority, Federal

Highway Reimbursement Revenue Notes, Series 2018A

.000

06/15/29

6,910,597

5,635,000

New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Forward Delivery Series 2022AA

.000

06/15/33

6,336,630

5,020,000

New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2022BB

.000

06/15/42

4,747,272

1,830,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Refunding Series 2006C - FGIC Insured

.000

12/15/31

1,512,284

10,230,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019A

.000

12/15/33

11,025,083

5,265,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019A

.000

12/15/39

5,190,966

7,570,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019AA

.750

06/15/33

7,640,403

6,190,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019BB

.000

06/15/33

6,557,662

2,570,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2020AA

.000

06/15/36

2,597,780

1,845,000

New Jersey Turnpike Authority, Turnpike Revenue Bonds,

Series 2025B

.000

01/01/34

2,125,417

2,825,000

Ocean City, New Jersey, General Obligation Bonds, General

Improvement Series 2019

.250

09/15/33

2,527,603

2,345,000

Ocean City, New Jersey, General Obligation Bonds, Refunding

General Improvement Series 2016

.000

11/15/28

2,198,519

1,530,000

South Orange & Maplewood School District, Essex County,

New Jersey, General Obligation Bonds, Series 2021

.125

08/15/42

1,024,929

6,190,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/28

6,534,075

14,150,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/29

14,914,154

3,320,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/31

3,478,381

2,180,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/34

2,251,788

6,205,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/36

6,355,401

11,265,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/37

10,956,971

2,270,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018B

.000

06/01/46

2,218,349

2,585,000

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

General Obligation Bonds, Regional Schools Series 2019

.000

07/15/26

2,542,653

1,425,000

Willingboro Township Board of Education, New Jersey,

General Obligation Bonds, School Series 2025

.125

08/15/42

1,413,240

TOTAL NEW JERSEY

237,590,601

NEW MEXICO - 0.5%

6,355,000

Farmington, New Mexico, Pollution Control Revenue Bonds,

Public Service Company of New Mexico San Juan and Four

Corners Projects, Refunding Series 2016B

.150

04/01/33

5,492,800

1,160,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2018B

.750

07/01/38

1,150,181

3,110,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2018C

.750

07/01/38

3,079,815

3,305,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2019D

.000

07/01/39

2,925,029

2,050,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2019F

.850

07/01/39

1,725,543

2,485,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021A

.150

07/01/41

1,764,171

4,845,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021C

.100

07/01/41

3,405,851

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW MEXICO

(continued)

$

3,490,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021D

.350

%

07/01/41

$

2,618,307

1,060,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024C

.100

09/01/39

1,050,451

1,950,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024C

.600

09/01/44

1,967,632

7,205,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024E

.450

09/01/44

7,145,657

590,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024G

.100

09/01/39

584,685

3,700,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024G

.375

09/01/44

3,634,478

2,360,000

New Mexico Municipal Energy Acquisition Authority, Gas

Supply Revenue Bonds, Refunding & Acquisition Series 2025,

(Mandatory Put 11/01/30)

.000

06/01/54

2,542,398

TOTAL NEW MEXICO

39,086,998

NEW YORK - 5.3%

1,250,000

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

Series 2023B

.000

11/01/35

1,435,492

650,000

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

Albert Einstein College of Medicine, Inc, Series 2023

.250

06/01/55

675,349

3,390,000

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

Family Life Academy Charter School, Series 2020A-1

.250

06/01/40

3,224,063

4,030,000

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

Family Life Academy Charter School, Series 2020B-1

.000

06/01/40

3,733,812

1,575,000

Dormitory Authority of the State of New York, General Revenue

Bonds, Saint Johns University, Series 2025

.000

07/01/34

1,790,668

1,650,000

Dormitory Authority of the State of New York, General Revenue

Bonds, Saint Johns University, Series 2025

.000

07/01/36

1,854,474

5,000,000

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

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

11/01/28)

.800

05/01/48

4,802,453

1,900,000

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

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/25

1,901,219

1,400,000

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

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/27

1,414,407

1,300,000

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

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/29

1,313,029

1,100,000

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

School Districts Financing Program, Series 2025A

.000

10/01/28

1,185,497

3,000,000

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

School Districts Financing Program, Series 2025A

.000

10/01/29

3,306,354

5,140,000

Dormitory Authority of the State of New York, State Personal

Income Tax Revenue Bonds, General Purpose Series 2016A

Group A

.000

02/15/37

5,197,195

6,965,000

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

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

(ETM)

.000

03/15/28

7,411,283

8,330,000

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

Revenue Bonds, Series 2018A

.000

03/15/40

8,567,550

1,000,000

Erie County, New York, General Obligation Bonds, Public

Improvement Series 2025A

.000

09/15/35

1,180,644

2,400,000

Erie County, New York, General Obligation Bonds, Public

Improvement Series 2025A

.000

09/15/36

2,780,937

2,000,000

Erie County, New York, General Obligation Bonds, Public

Improvement Series 2025A

.000

09/15/37

2,304,073

5,000,000

Hudson Yards Infrastructure Corporation, New York, Revenue

Bonds, Second Indenture Fiscal 2017 Series A - BAM Insured

.000

02/15/42

5,076,610

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

6,000,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020D-1

.000

%

11/15/43

$

6,125,806

8,000,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Refunding Series 2025A

.000

11/15/41

8,507,370

1,195,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Refunding Series 2016D

.000

11/15/31

1,223,720

6,000,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Series 2021A-2

.000

11/15/42

5,544,588

1,140,000

Monroe County Industrial Development Corporation, New

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

2019

.000

01/01/30

1,122,083

1,910,000

Monroe County Industrial Development Corporation, New

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

2019

.000

01/01/40

1,817,113

1,525,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/28

1,526,735

1,000,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/29

1,001,095

655,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014B

.000

07/01/30

655,689

2,455,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014B

.000

07/01/32

2,456,989

5,975,000

Nassau County, New York, General Obligation Bonds, General

Improvement Series 2025A

.000

04/01/36

6,897,407

5,200,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

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

.950

11/01/64

5,335,403

1,630,000

New York City Industrial Development Agency, New York,

PILOT Payment in Lieu of Taxes Revenue Bonds, Queens

Baseball Stadium Project, Refunding Series 2021A - AGM

Insured

.000

01/01/32

1,698,134

1,050,000

New York City Industrial Development Agency, New York,

PILOT Payment in Lieu of Taxes Revenue Bonds, Queens

Baseball Stadium Project, Refunding Series 2021A - AGM

Insured

.000

01/01/33

1,021,924

6,200,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2019 Series A-1

.000

08/01/40

6,404,764

8,050,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2022 Subseries F-1

.000

02/01/43

8,419,346

3,020,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2025 Subseries Series

.000

11/01/39

3,329,226

7,240,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2024G-1

.000

05/01/41

7,845,286

5,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025C-1

.000

05/01/39

5,533,798

10,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025C-1

.000

05/01/40

10,947,382

5,185,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025E

.000

11/01/39

5,715,907

2,550,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Series 2024B

.000

05/01/38

2,807,608

11,260,000

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

2018 Series F-1

.000

04/01/43

11,502,374

11,000,000

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

2026 Series B-1

.000

08/01/31

12,412,521

5,000

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

Fiscal 2015 Series C

.000

08/01/29

5,009

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

345,000

New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 7 World Trade Center Project, Refunding

Green Series 2022A-CL2

.125

%

09/15/50

$

257,299

5,000,000

New York State Energy Research and Development Authority,

Pollution Control Revenue Bonds, Rochester Gas and Electric

Corporation, Series 2004B, (AMT)

.000

05/15/32

5,111,344

600,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Green Bond Series

2018I

.625

11/01/33

602,376

2,000,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Green Bond Series

2018I

.875

11/01/38

1,969,303

2,115,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Sustainability Series

2019P

.600

11/01/34

1,870,376

10,105,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Sustainability Series

2019P

.850

11/01/39

8,289,472

8,105,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Refunding Series 2019C

.850

11/01/39

7,937,817

17,620,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Refunding Series 2020H

.300

11/01/40

13,350,683

3,190,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Sustainability Green Series 2024C-1

.375

11/01/44

3,166,877

4,400,000

New York State Housing Finance Agency, Housing Revenue

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

4/01/32)

.600

11/01/44

4,469,610

5,000,000

New York State Housing Finance Agency, State Personal

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

(Mandatory Put 6/15/29)

.350

06/15/54

5,023,386

9,725,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 223

.000

10/01/39

8,566,156

10,175,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 225

.300

10/01/40

7,637,832

6,000,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 227

.300

10/01/40

4,503,881

21,935,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 231

.400

10/01/41

16,538,670

5,335,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 233

.200

04/01/36

4,380,466

12,255,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Social Series 239

.450

10/01/41

9,213,956

1,000,000

New York State Power Authority, General Revenue Bonds,

Green Series 2024A

.000

11/15/33

1,174,791

3,250,000

New York State Power Authority, General Revenue Bonds,

Green Series 2024A

.000

11/15/36

3,747,382

4,950,000

New York State Power Authority, General Revenue Bonds,

Green Series 2024A

.000

11/15/37

5,642,765

755,000

New York State Thruway Authority, General Revenue Bonds,

Refunding Series 2024Q

.000

01/01/28

800,793

1,190,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/30

1,191,439

910,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/32

910,055

8,075,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/33

8,074,857

8,585,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/34

8,590,537

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

18,530,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

%

07/01/41

$

18,529,051

2,690,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

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

.000

07/01/46

2,406,812

29,965,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.250

01/01/50

29,963,657

1,100,000

New York Transportation Development Corporation, New York,

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

Kennedy International Airport Project, Refunding Series 2016,

(AMT)

.000

08/01/26

1,100,231

2,500,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

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

.500

06/30/54

2,543,433

7,800,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

12/01/29

8,398,134

15,020,000

New York Transportation Development Corporation, Special

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

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

.000

01/01/36

14,465,086

1,000,000

New York Transportation Development Corporation, Special

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

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

.000

04/01/35

1,099,807

4,375,000

Port Authority of New York and New Jersey, Consolidated

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

.000

07/15/35

4,780,008

3,180,000

Port Authority of New York and New Jersey, Consolidated

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

.000

07/15/36

3,444,093

1,910,000

Port Authority of New York and New Jersey, Consolidated

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

.000

07/15/37

2,050,934

2,435,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/28

2,439,219

2,695,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/29

2,699,493

4,200,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/30

4,206,733

2,100,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/31

2,103,040

1,335,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/32

1,336,652

3,080,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/33

3,083,161

10,870,000

Suffolk County, New York, General Obligation Bonds, Public

Improvement Series 2024A

.000

10/15/39

9,932,324

1,000,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Senior Series

2021A-2

.000

06/01/32

1,079,117

2,275,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Senior Series

2021A-2

.000

06/01/33

2,434,433

3,750,000

Triborough Bridge and Tunnel Authority, New York, Payroll

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

.000

11/15/39

4,052,891

TOTAL NEW YORK

434,182,818

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NORTH CAROLINA - 0.7%

$

1,745,000

Appalachian State University, North Carolina, Revenue Bonds,

Millennial Campus Indoor Facilities Project Series 2024

.000

%

11/01/28

$

1,870,723

1,000,000

Appalachian State University, North Carolina, Revenue Bonds,

Millennial Campus Indoor Facilities Project Series 2024

.000

11/01/29

1,092,618

10,120,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, DBA Carolinas HealthCare

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

6/15/27)

.250

01/15/50

10,187,153

4,275,000

Cumberland County Industrial Facilities & Pollution Control

Financing Authority, North Carolina, Solid Waste Disposal

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

Put 11/01/25)

.750

12/01/27

4,275,646

1,145,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Series 54-A

.550

07/01/44

1,141,209

9,560,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Series 55A

.000

07/01/39

9,551,348

4,280,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Series 55A

.350

01/01/44

4,258,881

1,125,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Social Series 53-A

.000

07/01/39

1,114,590

3,110,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2019-42

.625

07/01/39

2,653,159

4,640,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2020-43

.800

01/01/40

3,772,734

12,735,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2021-47

.300

07/01/41

9,464,447

11,625,000

North Carolina Municipal Power Agency 1, Catawba Electric

Revenue Bonds, Series 2015C

.000

01/01/29

11,691,130

TOTAL NORTH CAROLINA

61,073,638

NORTH DAKOTA - 1.0%

3,505,000

Cass County Joint Water Reserve District, North Dakota,

Temporary Improvement Special Assessment Bonds,

Refunding Series 2024A

.450

04/01/27

3,507,395

1,250,000

Fargo, North Dakota, General Obligation Bonds, Refunding

Improvement Series 2021A

.000

05/01/26

1,250,963

1,320,000

Fargo, North Dakota, General Obligation Bonds, Refunding

Improvement Series 2021A

.000

05/01/27

1,320,887

1,385,000

Fargo, North Dakota, General Obligation Bonds, Refunding

Improvement Series 2021A

.000

05/01/28

1,385,783

5,690,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2021

.000

12/01/32

6,053,476

5,920,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2021

.000

12/01/33

6,252,452

2,675,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2021

.000

12/01/34

2,812,810

500,000

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

Refunding Improvement Series 2021

.000

05/01/33

448,297

500,000

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

Refunding Improvement Series 2021

.000

05/01/36

415,986

3,440,000

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

Refunding Improvement Series 2021

.000

05/01/46

2,243,362

1,795,000

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

Refunding Improvement Series 2024C

.500

05/01/39

1,801,075

2,600,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2019C

.200

07/01/39

2,328,871

2,450,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2020A

.000

07/01/40

2,096,566

4,535,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2020B

.350

07/01/40

3,395,885

6,900,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2021A

.250

07/01/41

5,079,343

10,000,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Social Series 2021B

.450

07/01/41

7,631,674

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NORTH DAKOTA

(continued)

$

5,275,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Social Series 2024A

.550

%

07/01/44

$

5,264,119

5,050,000

North Dakota Housing Finance Agency, Home Mortgage

Program Revenue Bonds, Social Series 2024D

.175

07/01/39

5,042,837

3,785,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/28

3,849,714

3,000,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/29

3,049,214

1,310,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/31

1,327,113

3,480,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/34

3,493,260

10,980,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/38

10,774,829

3,395,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/43

3,246,763

TOTAL NORTH DAKOTA

84,072,674

OHIO - 3.5%

4,465,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/27

4,622,959

6,775,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/28

7,151,593

20,115,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/29

21,591,668

14,970,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/31

16,189,577

10,275,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/32

11,038,116

4,450,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/33

4,746,736

4,045,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/34

4,275,392

1,825,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/35

1,915,363

9,235,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/37

9,048,895

3,810,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/38

3,681,001

2,155,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/39

2,054,266

8,775,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/48

6,221,754

3,850,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/48

3,238,837

13,385,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020B-2 Class 2

.000

06/01/55

11,441,056

6,500,000

Columbus Regional Airport Authority, Ohio, Revenue Bonds,

John Glenn Columbus International Airport, Series 2025A,

(AMT)

.000

01/01/40

6,793,939

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

5,000,000

Columbus Regional Airport Authority, Ohio, Revenue Bonds,

John Glenn Columbus International Airport, Series 2025A,

(AMT)

.250

%

01/01/41

$

5,311,299

2,160,000

Hamilton, Ohio, General Obligation Bonds, Various Purpose,

Limited Tax Bond Anticipation Notes Series 2024

.000

12/17/25

2,164,210

1,115,000

Montgomery County, Ohio, Hospital Facilities Revenue Bonds,

Kettering Health Network Obligated Group Project, Refunding

& Improvement Series 2021

.000

08/01/40

933,395

3,410,000

Muskingum County, Ohio, Hospital Facilities Revenue Bonds,

Genesis HealthCare System Obligated Group Project, Series

2013

.000

02/15/27

3,428,304

7,000,000

Ohio Air Quality Development Authority, Ohio, Pollution

Control Revenue Bonds, FirstEnergy Generation Corporation

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

.375

08/01/29

6,909,020

2,200,000

Ohio Air Quality Development Authority, Ohio, Pollution

Control Revenue Bonds, FirstEnergy Nuclear Generation

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

.750

06/01/33

2,293,524

5,350,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2005A, (AMT)

.750

01/01/29

5,367,486

25,825,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

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

.500

08/01/40

24,717,404

18,600,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

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

.500

11/01/42

17,802,274

12,570,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

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

.600

06/01/41

12,077,269

16,950,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Dayton Power & Light Company Project, Refunding

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

.250

11/01/40

17,335,511

3,025,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Dueke Energy Corporation Project, Refunding Series

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

.250

11/01/39

3,088,343

255,000

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

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

.750

01/15/28

256,615

5,100,000

Ohio Higher Educational Facility Commission, Revenue

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

(Mandatory Put 12/01/26)

.625

12/01/34

4,994,370

1,815,000

Ohio Higher Educational Facility Commission, Senior Hospital

Parking Revenue Bonds, University Circle Incorporated 2020

Project, Series 2020

.000

01/15/36

1,882,990

1,950,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2019B

.000

09/01/39

1,720,346

3,585,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2020A

.750

09/01/40

2,872,636

1,390,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2020B

.250

09/01/40

1,048,950

3,605,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2021A

.250

09/01/41

2,648,140

4,865,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2021C

.450

09/01/41

3,706,010

1,335,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A

.350

09/01/44

1,330,840

8,425,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024B

.500

09/01/44

8,409,666

2,900,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Social Series 2025A

.150

09/01/40

2,899,992

7,985,000

Ohio State, Hospital Revenue Bonds, University Hospitals

Health System, Inc., Refunding Series 2016A

.000

01/15/41

7,996,049

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

5,650,000

Ohio State, Turnpike Revenue Bonds, Ohio Turnpike and

Infrastructure Commission, Infrastructure Projects, Junior Lien

Series 2018A

.000

%

02/15/27

$

5,845,467

1,750,000

Olentangy Local School District, Delaware and Franklin

Counties, Ohio, General Obligation Bonds, Refunding Series

2025

.000

12/01/31

2,003,727

1,185,000

Olentangy Local School District, Delaware and Franklin

Counties, Ohio, General Obligation Bonds, Refunding Series

2025

.000

12/01/32

1,368,458

2,725,000

Olentangy Local School District, Delaware and Franklin

Counties, Ohio, General Obligation Bonds, Refunding Series

2025

.000

12/01/33

3,172,039

3,290,000

Toledo-Lucas County Port Authority, Ohio, Development

Revenue Bonds, Northwest Ohio Bond Fund, HB Magruder

Memorial Hospital Project, Series 2021F

.250

11/15/36

2,648,646

725,000

Tuscarawas County Economic Development and Finance

Alliance, Ohio, Higher Education Facilities Revenue Bonds,

Ashland University, Refunding & Improvement Series 2015

.375

03/01/27

725,119

4,800,000

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

Health Obligated Group Refunding Facilities Improvement

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

.125

12/01/49

5,358,028

11,700,000

Washington County, Ohio, Hospital Facilities Revenue Bonds,

Memorial Health System Obligated Group, Series 2022

.375

12/01/37

12,503,483

TOTAL OHIO

288,830,762

OKLAHOMA - 2.6%

1,065,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Refunding Series 2020

.000

12/01/28

1,106,221

1,775,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Series 2020

.000

09/01/28

1,708,685

1,850,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Series 2020

.000

09/01/29

1,754,153

1,800,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Series 2020

.750

09/01/30

1,771,504

1,790,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Series 2020

.750

09/01/31

1,729,094

7,830,000

Canadian County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Piedmont Public Schools Project, Series

2024

.000

08/15/33

8,131,490

12,345,000

Canadian County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Piedmont Public Schools Project, Series

2024

.000

08/15/34

12,727,159

1,725,000

Carter County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Plainview Public

Schools Project, Series 2021A

.000

12/01/35

1,780,519

10,000,000

Cleveland County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Public

Schools Project, Series 2021

.000

06/01/31

10,457,515

10,000,000

Cleveland County Independent School District 29 Norman,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2024

.000

03/01/26

10,055,705

910,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/27

929,774

945,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/28

976,836

960,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/29

1,002,710

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

875,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

%

05/01/30

$

919,257

690,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/31

729,481

930,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/32

978,890

800,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/33

837,748

900,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/34

937,340

1,070,000

Cleveland County Public Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Norman

Technology Center Project, Series 2021

.000

05/01/35

1,106,168

1,470,000

Comanche County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Elgin Public

Schools Project, Series 2017A

.000

12/01/28

1,551,235

1,410,000

Comanche County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Elgin Public

Schools Project, Series 2017A

.000

12/01/31

1,485,882

2,720,000

Garfield County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Enid Public

Schools Project, Series 2016A

.000

09/01/29

2,764,876

5,430,000

Garfield County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Enid Public

Schools Project, Series 2016A

.000

09/01/31

5,518,106

3,195,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.625

09/01/36

3,203,015

1,365,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Amber-Pocasset

Public Schools Project, Series 2019

.000

09/01/32

1,400,753

1,485,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Amber-Pocasset

Public Schools Project, Series 2019

.000

09/01/34

1,501,072

1,000,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Amber-Pocasset

Public Schools Project, Series 2019

.000

09/01/36

996,947

1,890,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Tuttle Public

Schools Project, Series 2019

.000

09/01/32

1,939,504

1,790,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Tuttle Public

Schools Project, Series 2019

.000

09/01/33

1,819,187

1,000,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Tuttle Public

Schools Project, Series 2019

.000

09/01/34

1,011,187

1,000,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/30

1,099,542

1,000,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/31

1,113,686

2,490,000

Lincoln County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Stroud Public Schools Project, Series

2016

.000

09/01/26

2,536,623

890,000

Love County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Marietta Public

Schools Project, Series 2021

.000

12/01/33

926,389

920,000

Love County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Marietta Public

Schools Project, Series 2021

.000

12/01/34

953,643

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

960,000

Love County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Marietta Public

Schools Project, Series 2021

.000

%

12/01/35

$

988,203

1,280,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Purcell Public

Schools Project, Series 2018

.000

09/01/30

1,361,161

1,565,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Purcell Public

Schools Project, Series 2018

.000

09/01/34

1,641,405

5,725,000

Oklahoma City, Oklahoma, General Obligation Bonds, Series

2025

.000

03/01/33

6,617,644

6,065,000

Oklahoma County Independent School District 89 Oklahoma

City, Oklahoma, General Obligation Bonds, Combined

Purpose Series 2024A

.250

07/01/26

5,990,888

590,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/28

616,209

9,505,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/33

9,825,943

8,615,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/38

8,747,644

3,795,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.250

08/15/43

3,819,304

2,505,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.500

08/15/57

2,510,534

4,975,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Taxable Series 2022

.500

08/15/37

5,187,495

970,000

Oklahoma Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Homeownership Loan Program, Series 2019A

.000

09/01/39

857,048

1,430,000

Oklahoma Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Homeownership Loan Program, Series 2020A

.000

09/01/40

1,232,078

5,850,000

Oklahoma State Turnpike Authority, Turnpike System Revenue

Bonds, Second Senior Series 2025A

.000

01/01/40

6,422,180

2,475,000

Oklahoma State Turnpike Authority, Turnpike System Revenue

Bonds, Second Senior Series 2025A

.000

01/01/41

2,692,257

745,000

Pontotoc County Educational Facilities Authority, Oklahoma,

Facilities Lease Revenue Bonds, Ada Public Schools Project,

Series 2021

.000

09/01/29

772,275

440,000

Pontotoc County Educational Facilities Authority, Oklahoma,

Facilities Lease Revenue Bonds, Ada Public Schools Project,

Series 2021

.000

09/01/30

458,677

1,110,000

Pontotoc County Educational Facilities Authority, Oklahoma,

Facilities Lease Revenue Bonds, Ada Public Schools Project,

Series 2021

.000

09/01/31

1,154,373

7,800,000

Tulsa County Independent School District 001 Tulsa,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2022A

.000

03/01/27

7,667,682

1,540,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Berryhill Public Schools

Project, Series 2020

.000

09/01/27

1,503,061

1,605,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Berryhill Public Schools

Project, Series 2020

.000

09/01/28

1,545,036

1,670,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Berryhill Public Schools

Project, Series 2020

.000

09/01/29

1,583,478

3,150,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Berryhill Public Schools

Project, Series 2020

.000

09/01/30

2,946,501

10,755,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Broken Arrow Public Schools

Project, Series 2016

.000

09/01/26

10,773,755

5,650,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Broken Arrow Public Schools

Project, Series 2021A

.000

09/01/30

5,921,409

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

5,425,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Broken Arrow Public Schools

Project, Series 2021A

.000

%

09/01/31

$

5,695,542

9,955,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jenks Public Schools Project,

Series 2015

.000

09/01/26

9,972,360

7,180,000

Tulsa, Oklahoma, General Obligation Bonds, Series 2024C

.050

10/01/37

4,503,402

2,580,000

Washington County Rural Water District 3, Oklahoma, Revenue

Bonds, Refunding & Capital improvement Series 2020

.000

09/15/35

2,459,988

2,165,000

Weatherford Industrial Trust Educational, Oklahoma, Facilities

Lease Revenue Bonds, Weatherford Public Schools Project,

Series 2019

.000

03/01/29

2,304,032

2,000,000

Weatherford Industrial Trust Educational, Oklahoma, Facilities

Lease Revenue Bonds, Weatherford Public Schools Project,

Series 2019

.000

03/01/31

2,129,973

2,500,000

Weatherford Industrial Trust Educational, Oklahoma, Facilities

Lease Revenue Bonds, Weatherford Public Schools Project,

Series 2019

.000

03/01/33

2,642,249

TOTAL OKLAHOMA

212,005,682

OREGON - 0.9%

5,070,000

Beaverton School District 48J, Washington and Multnomah

Counties, Oregon, General Obligation Bonds, Convertible

Deferred Interest Series 2017D

.000

06/15/36

5,193,999

1,850,000

Beaverton School District 48J, Washington and Multnomah

Counties, Oregon, General Obligation Bonds, Series 2025A

.000

06/15/37

1,167,002

5,000,000

Beaverton School District 48J, Washington and Multnomah

Counties, Oregon, General Obligation Bonds, Series 2025A

.000

06/15/38

2,977,369

1,760,000

Benton and Linn Counties District School District 509J

Corvallis, Oregon, General Obligation Bonds, Series 2018A

.000

06/15/38

1,828,824

1,260,000

Clackamas Community College District, Oregon, General

Obligation Bonds, Deferred Interest Series 2017A

.000

06/15/40

1,278,483

1,665,000

Clackamas County School District 62, Oregon City, Oregon,

General Obligation Bonds, Refunding Series 2018A

.000

06/15/34

1,204,234

1,510,000

Clackamas County School District 62, Oregon City, Oregon,

General Obligation Bonds, Refunding Series 2018A

.000

06/15/35

1,036,158

1,070,000

Clackamas County School District 62, Oregon City, Oregon,

General Obligation Bonds, Refunding Series 2018A

.000

06/15/37

666,004

2,050,000

Clackamas County School District 62, Oregon City, Oregon,

General Obligation Bonds, Refunding Series 2018A

.000

06/15/39

1,152,917

2,800,000

Multnomah-Clackamas Counties School District 10JT Greham-

Barlow, Oregon, General Obligation Bonds, Deferred interest

Series 2019A

.000

06/15/38

1,579,271

1,000,000

Oregon Department of Transportation, Revenue Bonds, Grant

Anticipation, Social 2024

.000

05/15/39

1,104,130

6,545,000

Oregon Health and Science University, Revenue Bonds, Green

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

.000

07/01/46

7,240,392

1,830,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2017D

.450

01/01/38

1,724,983

3,085,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2018C

.900

07/01/38

3,059,109

7,955,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2019A

.650

07/01/39

6,813,418

7,420,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2021A

.250

07/01/41

5,462,134

2,710,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2025A

.750

07/01/40

2,776,831

5,000,000

Oregon State Department of Transportation, Highway User Tax

Revenue Bonds, Refunding Subordinate Lien Series 2024A

.000

11/15/33

5,818,266

3,325,000

Oregon State, General Obligation Bonds, Veterans Welfare

Series 108 of 2021O

.600

12/01/42

2,522,092

4,050,000

Port of Portland, Oregon, International Airport Revenue Bonds,

Green Series 2023-29, (AMT)

.000

07/01/38

4,321,780

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OREGON

(continued)

$

5,000,000

Port of Portland, Oregon, International Airport Revenue Bonds,

Series 2022-28, (AMT)

.000

%

07/01/33

$

5,503,512

1,925,000

Salem Hospital Facility Authority, Oregon, Revenue Bonds,

Salem Health Projects, Refunding Series 2016A

.000

05/15/33

1,943,832

6,510,000

Washington County, Oregon, General Obligation Bonds, Full

Faith & Credit Obligation Series 2025

.000

06/01/33

7,549,838

TOTAL OREGON

73,924,578

PENNSYLVANIA - 4.6%

1,000,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.000

01/01/28

1,046,272

1,400,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.000

01/01/29

1,490,681

2,500,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.000

01/01/30

2,700,282

1,000,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/36

1,034,382

10,085,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/37

9,881,364

5,205,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/38

5,023,800

6,770,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/44

6,120,488

2,090,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/44

1,954,096

1,445,000

(d) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, City Center

Project, Series 2018

.000

05/01/28

1,489,001

2,234,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-2

.000

06/30/34

2,337,455

29,961,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-3

.000

06/30/39

27,127,975

14,973,000

(h) Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024B-1

.000

06/30/44

10,597,042

4,690,000

Berks County Municipal Authority, Pennsylvania, Revenue

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

.000

06/30/34

4,632,546

1,025,000

Capital Region Water, Pennsylvania, Water Revenue Bonds,

Series 2018

.000

07/15/27

1,066,793

5,190,000

Clarion County Industrial Development Authority, Pennsylvania,

Revenue Bonds, Pennsylvania-American Water Company

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

12/03/29)

.450

12/01/39

4,793,614

32,700,000

Commonwealth Financing Authority, Pennsylvania, State

Appropriation Lease Bonds, Master Settlement, Series 2018 -

AGM Insured

.000

06/01/39

32,126,010

2,000,000

Delaware River Joint Toll Bridge Commission, New Jersey and

Pennsylvania, Bridge System Revenue Bonds, Series 2017

.000

07/01/42

2,032,203

5,000,000

Geisinger Authority, Montour County, Pennsylvania, Health

System Revenue Bonds, Geisinger Health System, Series

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

.000

04/01/43

5,098,270

4,465,000

Lehigh County General Purpose Authority, Pennsylvania,

Hospital Revenue Bonds, Lehigh Valley Health Network, Series

2019A

.000

07/01/49

3,873,236

9,460,000

Lehigh County Industrial Development Authority, Pennsylvania,

Pollution Control Revenue Bonds, Pennsylvania Power and

Light Company, Series 2016A

.000

09/01/29

9,515,006

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

16,805,000

Luzerne County Industrial Development Authority,

Pennsylvania, Revenue Bonds, Pennsylvania-American Water

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

Put 12/03/29)

.450

%

12/01/39

$

15,533,618

1,000,000

North Allegheny School District, Allegheny County,

Pennsylvania, General Obligation Bonds, Limited Tax Series

2019

.000

05/01/44

967,194

3,160,000

Pennsylvania Economic Development Financing Authority,

Private Activity Revenue Bonds, Pennsylvania Rapid Bridge

Replacement Project, Series 2015, (AMT)

.000

12/31/34

3,181,255

11,000,000

Pennsylvania Economic Development Financing Authority,

Revenue Bonds, University of Pittsburgh Medical Center, Series

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

.000

03/15/60

12,149,194

2,000,000

(c) Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Republic Services Inc

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

.850

04/01/49

1,999,147

1,250,000

Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Waste Management Inc.,

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

.950

12/01/33

1,208,254

3,900,000

(c) Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Waste Management Inc.,

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

.850

08/01/45

3,899,538

10,890,000

Pennsylvania Higher Educational Facilities Authority, Revenue

Bonds, LaSalle University, Series 2012

.000

05/01/42

7,636,726

1,135,000

Pennsylvania Higher Educational Facilities Authority, Revenue

Bonds, Widener University, Series 2021A

.000

07/15/39

906,577

19,900,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2016-120

.100

10/01/36

18,619,294

13,045,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-124B

.500

10/01/37

12,486,321

6,615,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-128B

.500

10/01/34

6,532,864

1,000,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-130A

.700

10/01/39

846,384

3,880,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-131A

.000

10/01/39

3,417,654

3,355,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2020-133

.125

10/01/35

2,794,518

10,150,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2020-133

.350

10/01/40

7,815,160

15,000,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2021-137

.450

10/01/41

11,521,842

4,800,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2022-1394A

.000

10/01/37

4,808,283

1,000,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-145A

.600

10/01/44

1,008,249

9,000,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2025A

.000

08/15/29

9,849,171

6,000,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2025A

.000

08/15/33

6,904,911

5,000,000

Pennsylvania State, General Obligation Bonds, First Series

2024

.000

08/15/30

5,569,416

2,580,000

Pennsylvania Turnpike Commission, Motor License Fund-

Enhanced Turnpike Special Revenue Bonds, Subordinate

Series 2014A

.500

12/01/34

2,615,587

5,100,000

Pennsylvania Turnpike Commission, Motor License Fund-

Enhanced Turnpike Special Revenue Bonds, Subordinate

Series 2014A

.750

12/01/37

5,178,784

16,220,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Capital Appreciation Series 2009E

.375

12/01/38

17,074,090

4,695,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Second Series 2016B-2

.000

06/01/29

4,761,646

22,160,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Second Series 2016B-2

.000

06/01/35

22,462,666

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

3,045,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Second Series 2017

.000

%

12/01/29

$

3,194,196

3,340,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Second Series 2017

.000

12/01/31

3,506,733

4,815,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Series 2016

.000

06/01/37

4,826,755

5,645,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Series 2016A

.000

12/01/36

5,753,519

3,845,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Third Series 2017

.000

12/01/31

4,036,943

2,355,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Third Series 2017

.000

12/01/32

2,467,164

2,180,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Third Series 2017

.000

12/01/36

2,197,058

1,695,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Series 2015B

.000

12/01/28

1,701,380

1,165,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Series 2016A-1

.000

12/01/28

1,182,567

3,130,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Series 2017A-1

.000

12/01/36

3,238,186

7,445,000

Philadelphia Authority For Industrial Development,

Pennsylvania, City Agreement Revenue Bonds, Cultural and

Commercial Corridors Program, Refunding Series 2016A

.000

12/01/29

7,473,024

1,835,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, La Salle University, Series 2017

.000

05/01/31

1,651,139

2,060,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, La Salle University, Series 2017

.000

05/01/33

1,769,742

1,165,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, La Salle University, Series 2017

.000

05/01/34

975,227

3,000,000

Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding

Series 2025B, (AMT)

.000

07/01/32

3,324,601

440,000

Scranton-Lackawanna Health and Welfare Authority,

Pennsylvania, University Revenue Bonds, Marywood University,

Series 2016

.375

06/01/26

434,061

3,120,000

Washington County Industrial Development Authority,

Pennsylvania, College Revenue Bonds, AICUP Financing

Program-Washington and Jefferson College Project, Series

2017-PP5

.375

11/01/36

2,771,351

1,200,000

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

Obligation Bonds, Notes Series 2025D

.000

05/15/37

1,320,641

800,000

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

Obligation Bonds, Notes Series 2025D

.000

05/15/38

874,476

TOTAL PENNSYLVANIA

378,387,622

PUERTO RICO - 3.0%

19,655,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2020A

.000

07/01/30

20,514,281

22,060,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2020A

.000

07/01/35

22,733,541

350,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021A

.000

07/01/33

364,531

5,575,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/42

5,027,076

16,067,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/27

15,198,577

27,317,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/29

24,192,768

62,519,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/31

51,227,131

19,589,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/33

14,745,246

2,971,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.500

07/01/34

2,971,938

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PUERTO RICO

(continued)

$

11,661,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.550

%

07/01/40

$

11,405,246

30,947,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/46

10,567,893

1,087,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.750

07/01/53

1,023,045

1,000,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/58

966,593

4,743,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured Cofina Project Series 2018B-1

.500

07/01/34

4,744,497

15,466,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.329

07/01/40

14,814,996

7,773,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.329

07/01/40

7,445,814

76,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.784

07/01/58

70,671

8,507,454

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/27

8,808,228

16,663,234

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/29

17,832,893

1,797,507

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.750

07/01/31

1,993,107

9,297,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

6,651,314

2,592,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

2,564,815

4,111,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/35

4,013,011

1,143,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/37

1,085,807

TOTAL PUERTO RICO

250,963,019

RHODE ISLAND - 0.7%

1,275,000

Rhode Island Health and Educational Building Corporation,

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

Series 2021

.000

10/01/28

1,366,053

2,000,000

Rhode Island Health and Educational Building Corporation,

Hospital Financing Revenue Bonds, Care New England Issue,

Refunding Series 2016B

.000

09/01/36

2,000,869

1,435,000

Rhode Island Health and Educational Building Corporation,

Public Schools Financing Program Revenue Bonds, City of

Providence, Series 2021D - BAM Insured

.000

05/15/27

1,491,755

2,595,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2019 Series 70

.000

10/01/39

2,285,776

2,420,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2019 Series 71

.000

10/01/39

2,131,630

13,950,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2021 Series 75A

.250

10/01/41

10,236,655

10,000,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bonds, Series 73-A

.300

10/01/40

7,506,469

4,550,000

Rhode Island Housing and Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, Series 2020-72A

.550

10/01/40

3,547,953

4,000,000

Rhode Island Housing and Mortgage Finance Corporation,

Homeownership Opportunity Bonds, Series 83-A

.600

10/01/44

4,032,996

137,445,000

Rhode Island Tobacco Settlement Financing Corporation,

Tobacco Settlement Asset-Backed Bonds, Series 2007A

.000

06/01/52

19,541,820

3,655,000

Rhode Island Tobacco Settlement Financing Corporation,

Tobacco Settlement Asset-Backed Bonds, Series 2015B

.500

06/01/45

3,580,015

TOTAL RHODE ISLAND

57,721,991

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SOUTH CAROLINA - 1.3%

$

5,780,000

Greenville Hospital System Board of Trustees, South Carolina,

Hospital Revenue Bonds, Series 2014B

.000

%

05/01/34

$

5,789,733

1,055,000

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

Hospital Revenue Bonds, Lexington Medical Center, Series

2016

.000

11/01/34

1,065,942

1,170,000

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

Hospital Revenue Bonds, Lexington Medical Center, Series

2016

.000

11/01/35

1,180,981

6,400,000

Patriots Energy Group Financing Agency, South Carolina,

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

8/01/31)

.250

10/01/54

6,976,040

1,000,000

Patriots Energy Group, South Carolina, Gas System Revenue

Bonds, Improvement and Refunding Series 2021A

.250

06/01/41

671,449

2,500,000

South Carolina Association of Governmental Organizations,

Educational Facilities Corporation for Pickens School District,

Installment Purchase Revenue Bonds, Pickens County,

Refunding Series 2025

.000

12/01/31

2,826,705

2,700,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2019B

.900

07/01/39

2,268,539

5,720,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2020B

.150

07/01/40

4,190,964

17,830,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2021A

.050

07/01/41

12,409,612

1,930,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2024A

.500

07/01/44

1,924,184

5,255,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2024B

.375

07/01/44

5,189,448

1,010,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2025A

.150

07/01/40

1,014,792

8,745,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2025A

.500

07/01/45

8,740,924

4,595,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2025B

.625

07/01/40

4,694,415

5,390,000

South Carolina Jobs Economic Development Authority,

Economic Development Revenue Bonds, Foothill Affordable

Housing Foundation - Paddock Club & Fairway Projects, Senior

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

.000

03/01/62

5,441,949

1,305,000

South Carolina Jobs-Economic Development Authority,

Economic Development Revenue Bonds, FMU Student

Housing LLC - Francis Marion University Project, Series 2014A

.000

08/01/27

1,306,201

3,925,000

South Carolina Jobs-Economic Development Authority,

Economic Development Revenue Bonds, FMU Student

Housing LLC - Francis Marion University Project, Series 2014A

.000

08/01/32

3,926,651

2,650,000

South Carolina Jobs-Economic Development Authority,

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

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

.000

11/01/49

2,947,539

4,595,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding & Improvement Series 2020A

.000

12/01/31

5,072,910

7,895,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2016A

.000

12/01/29

8,009,878

4,325,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2016A

.000

12/01/31

4,383,457

2,255,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2016A

.000

12/01/37

2,273,082

4,000,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2024B - AGM Insured

.000

12/01/42

4,263,822

10,000,000

South Carolina Transportation Infrastructure Bank, Revenue

Bonds, Refunding Series 2017A

.000

10/01/39

10,249,452

4,615,000

Spartanburg County School District 5, South Carolina, General

Obligation Bonds, Series 2022

.000

03/01/37

4,210,196

TOTAL SOUTH CAROLINA

111,028,865

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

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SOUTH DAKOTA - 0.5%

$

200,000

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

Bonds, Limited Tax Refunding Certificates, Series 2021

.000

%

08/01/26

$

197,542

400,000

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

Bonds, Limited Tax Refunding Certificates, Series 2021

.000

08/01/27

390,191

400,000

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

Bonds, Limited Tax Refunding Certificates, Series 2021

.000

08/01/29

383,129

1,545,000

South Dakota Health and Educational Facilities Authority,

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

.000

09/01/27

1,604,544

2,515,000

South Dakota Health and Educational Facilities Authority,

Revenue Bonds, Regional Health, Refunding Series 2017

.000

09/01/31

2,595,254

3,925,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2021A

.100

11/01/41

2,745,491

7,500,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2021B

.050

11/01/41

5,193,302

3,500,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2024A

.450

11/01/44

3,494,014

13,055,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2024C

.500

11/01/44

12,999,676

7,710,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2025A

.200

11/01/40

7,810,125

2,395,000

(f) South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2025E

.250

05/01/56

2,738,718

3,205,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Social Series

2023A

.150

11/01/38

3,207,012

TOTAL SOUTH DAKOTA

43,358,998

TENNESSEE - 1.2%

1,630,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Revenue Bonds, CommonSpirit Health, Series

2019A-1

.000

08/01/26

1,657,656

1,900,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Revenue Bonds, CommonSpirit Health, Series

2019A-1

.000

08/01/28

2,012,872

2,895,000

Knox County Health, Educational and Housing Facilities Board,

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

Series 2017

.375

04/01/26

2,890,322

3,250,000

Knox County Health, Educational and Housing Facilities Board,

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

Series 2017

.000

04/01/29

3,317,388

2,605,000

Knox County Health, Educational and Housing Facilities Board,

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

Series 2017

.000

04/01/30

2,658,419

2,810,000

Knox County Health, Educational and Housing Facilities Board,

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

Series 2017

.000

04/01/31

2,862,701

5,135,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University Medical Center, Series 2016A

.000

07/01/40

5,157,499

4,435,000

Murfreesboro, Tennessee, General Obligation Bonds, Series

2021

.000

06/01/30

4,455,228

6,000,000

Shelby County Health, Educational and Housing Facilities

Board, Tennessee, Revenue Bonds, Methodist Le Bonheur

Healthcare, Series 2025A

.000

06/01/35

6,640,615

15,810,000

Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series

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

.000

12/01/51

16,203,310

4,095,000

Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series

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

.500

10/01/53

4,421,327

420,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2015-1C

.950

07/01/35

420,054

3,255,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2018-3

.750

07/01/38

3,201,634

6,335,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2018-4

.900

07/01/38

6,263,104

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TENNESSEE

(continued)

$

5,765,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-1

.750

%

07/01/39

$

5,589,300

6,190,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-2

.000

07/01/39

5,493,497

2,440,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-3

.600

07/01/39

2,073,308

3,930,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-4

.900

07/01/39

3,301,984

3,915,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-1

.250

07/01/41

2,886,656

7,135,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-2

.250

07/01/41

5,252,335

5,340,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-3

.300

07/01/41

3,968,602

215,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Social Series 2024-2A

.450

07/01/44

213,205

1,350,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Social Series 2025-2A

.850

07/01/40

1,390,577

3,735,000

The Tennessee Energy Acquisition Corporation, Gas Project

Revenue Bonds, Refunding Series 2025A

.000

12/01/35

4,042,686

2,510,000

The Tennessee Energy Acquisition Corporation, Gas Project

Revenue Bonds, Series 2018, (Mandatory Put 11/01/25)

.000

11/01/49

2,512,771

2,250,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006B

.625

09/01/26

2,286,114

TOTAL TENNESSEE

101,173,164

TEXAS - 8.2%

11,020,000

Alamo Community College District, Texas General Obligation

Bonds, Refunding Limited Tax Series 2025

.000

08/15/33

12,581,854

10,195,000

Alamo Community College District, Texas General Obligation

Bonds, Refunding Limited Tax Series 2025

.000

08/15/34

11,671,799

5,000,000

Aldine Independent School District, Harris County, Texas,

General Obligation Bonds, Refunding School Building Series

2017A

.000

02/15/45

5,047,222

2,035,000

Aldine Independent School District, Harris County, Texas,

General Obligation Bonds, Refunding School Building Series

2024B

.000

02/15/28

2,157,671

2,610,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/28

2,639,048

2,840,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/30

2,871,068

1,600,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/32

1,614,266

5,000,000

(f) Austin, Texas, Certificates of Obligation, Series 2025

.000

09/01/33

5,751,758

20,000,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2024B

.000

08/15/40

22,070,310

9,255,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2025A

.000

08/15/28

9,928,602

8,500,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2025B

.000

08/15/36

9,809,105

8,525,000

Board of Regents of the University of Texas, Permanent

University Fund Bonds, Series 2024A

.000

07/01/38

9,532,929

9,125,000

Board of Regents of the University of Texas, Permanent

University Fund Bonds, Series 2024A

.000

07/01/39

10,120,809

10,860,000

Central Texas Regional Mobility Authority, Revenue Bonds,

Anticipation Notes Subordinate Lien Series 2021C

.000

01/01/27

10,912,009

1,145,000

City of Houston, Texas, Convention & Entertainment Facilities

Department Hotel Occupancy Tax and Special Revenue Bonds,

Refunding Series 2019

.000

09/01/32

1,210,647

1,000,000

City of Houston, Texas, Convention & Entertainment Facilities

Department Hotel Occupancy Tax and Special Revenue Bonds,

Refunding Series 2019

.000

09/01/34

1,049,675

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,000,000

City of Houston, Texas, Convention & Entertainment Facilities

Department Hotel Occupancy Tax and Special Revenue Bonds,

Refunding Series 2019

.000

%

09/01/35

$

1,045,727

1,000,000

City of Houston, Texas, Convention & Entertainment Facilities

Department Hotel Occupancy Tax and Special Revenue Bonds,

Refunding Series 2019

.000

09/01/36

1,042,479

3,325,000

Collin County, Texas, General Obligation Bonds, Limited Tax

Permanent Improvement Series 2023

.000

02/15/36

3,686,576

1,270,000

Collin County, Texas, General Obligation Bonds, Limited Tax

Permanent Improvement Series 2023

.000

02/15/37

1,393,894

3,000,000

Conroe Independent School District, Montgomery County,

Texas, General Obligation Bonds, Refunding Series 2024

.000

02/15/30

3,320,403

8,610,000

Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds Refunding Series 2023C, (AMT)

.000

11/01/26

8,792,139

9,070,000

Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds Refunding Series 2023C, (AMT)

.000

11/01/27

9,454,204

12,245,000

(f) Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds, Refunding & Improvement Series 2025A-1, (AMT)

.000

11/01/30

13,418,147

10,000,000

Dallas, Texas, General Obligation Bonds, Refunding and

Improvement Series 2024B

.000

02/15/27

10,333,595

5,900,000

Dallas, Texas, Waterworks and Sewer System Revenue Bonds,

Refunding Series 2016A

.000

10/01/41

5,918,434

3,000,000

(f) Denton County, Texas, General Obligation Bonds, Refunding

Permanent Improvement Series 2025

.000

07/15/32

3,414,284

2,775,000

Fort Bend County Industrial Development Corporation, Texas,

Revenue Bonds, NRG Energy Inc. Project, Series 2012B

.750

11/01/42

2,744,128

2,400,000

Fort Bend County, Texas, General Obligation Bonds, Refunding

Road Series 2025

.000

03/01/33

2,742,968

3,405,000

Fort Bend County, Texas, General Obligation Bonds, Refunding

Road Series 2025

.000

03/01/34

3,918,136

4,000,000

Grand Prairie Independent School District, Dallas County,

Texas, General Obligation Bonds, Refunding Series 2015

.000

02/15/31

4,003,158

5,215,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Refunding Series 2020A

.125

07/01/26

5,271,285

4,025,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Refunding Series 2020A

.950

07/01/27

4,121,914

3,060,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Refunding Series 2020A

.750

07/01/28

3,143,492

3,650,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2022B, (Mandatory Put

12/01/28)

.000

06/01/50

3,867,226

8,960,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2024C, (Mandatory Put

7/01/29)

.000

07/01/54

9,596,076

1,000,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Texas Childrens

Hospital, Series 2019A

.000

10/01/35

1,011,287

4,560,000

Harris County, Texas, General Obligation Bonds, Refunding

Permanent Improvement Series 2025A

.000

09/15/33

5,240,002

4,650,000

Harris County, Texas, General Obligation Bonds, Refunding

Permanent Improvement Series 2025A

.000

09/15/34

5,372,348

1,715,000

Harris County, Texas, General Obligation Bonds, Refunding

Road Series 2025A

.000

09/15/33

1,970,746

1,800,000

Harris County, Texas, General Obligation Bonds, Refunding

Road Series 2025A

.000

09/15/34

2,079,619

1,270,000

Harris County, Texas, Toll Road Revenue Bonds, Refunding

Senior Lien Series 2016A

.000

08/15/41

1,272,968

1,720,000

Houston Higher Education Finance Corporation, Texas,

Revenue Bonds, Rice University, Series 2024

.000

05/15/34

1,984,086

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

6,995,000

Houston, Texas, Airport System Revenue Bonds, Refunding

Subordinate Lien Series 2023A - AGM Insured, (AMT)

.000

%

07/01/28

$

7,393,118

11,005,000

Houston, Texas, Airport System Revenue Bonds, Refunding

Subordinate Lien Series 2023A - AGM Insured, (AMT)

.000

07/01/30

12,003,092

11,535,000

Houston, Texas, Airport System Revenue Bonds, Refunding

Subordinate Lien Series 2023A - AGM Insured, (AMT)

.000

07/01/32

12,783,091

2,000,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal E Project, Refunding Series

2014, (AMT)

.000

07/01/29

2,000,553

1,000,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal E Project, Series 2021B-1,

(AMT)

.000

07/15/41

909,080

7,725,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.250

07/15/33

8,283,886

1,600,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.250

07/15/34

1,714,606

12,050,000

Houston, Texas, Combined Utility System Revenue Bonds,

Refunding First Lien Series 2014D

.000

11/15/39

12,057,808

3,165,000

Houston, Texas, Combined Utility System Revenue Bonds,

Refunding First Lien Series 2018D

.000

11/15/32

3,372,446

2,630,000

Houston, Texas, Combined Utility System Revenue Bonds,

Refunding First Lien Series 2018D

.000

11/15/33

2,789,719

8,500,000

Houston, Texas, General Obligation Bonds, Refunding Series

2024A

.000

03/01/41

9,130,700

7,500,000

Houston, Texas, General Obligation Bonds, Refunding Series

2024A

.000

03/01/42

7,990,122

1,325,000

Houston, Texas, Hotel Occupancy Tax and Special Revenue

Bonds, Convention and Entertainment Facilities Department,

Refunding Series 2014

.000

09/01/31

1,327,001

1,000,000

Houston, Texas, Hotel Occupancy Tax and Special Revenue

Bonds, Convention and Entertainment Facilities Department,

Refunding Series 2021

.000

09/01/33

989,565

2,880,000

Hurst-Euless-Bedford Independent School District, Tarrant

County, Texas, General Obligation Bonds, School Building

Series 2024

.000

08/15/26

2,944,646

2,055,000

Katy Independent School District, Harris, Fort Bend and Waller

Counties, Texas, General Obligation Bonds, Refunding Series

2024

.000

02/15/29

2,224,463

1,575,000

Klein Independent School District, Harris County, Texas,

General Obligation Bonds, Schoolhouse Refunding Series

2019

.000

02/01/43

1,613,532

1,000,000

Love Field Airport Modernization Corporation, Texas, General

Airport Revenue Bonds Series 2015, (AMT)

.000

11/01/26

1,001,570

2,025,000

Love Field Airport Modernization Corporation, Texas, General

Airport Revenue Bonds Series 2015, (AMT)

.000

11/01/27

2,028,452

1,570,000

Love Field Airport Modernization Corporation, Texas, General

Airport Revenue Bonds Series 2015, (AMT)

.000

11/01/28

1,572,669

2,000,000

Love Field Airport Modernization Corporation, Texas, General

Airport Revenue Bonds Series 2015, (AMT)

.000

11/01/29

2,003,180

2,000,000

Love Field Airport Modernization Corporation, Texas, General

Airport Revenue Bonds Series 2015, (AMT)

.000

11/01/30

2,002,958

4,095,000

Lower Colorado River Authority, Texas, Transmission Contract

Revenue Bonds, LCRA Transmission Services Corporation

Project, Refunding Series 2021

.000

05/15/27

4,256,959

4,565,000

Matagorda County Navigation District 1, Texas, Pollution

Control Revenue Bonds, Central Power & Light Company

Project, Refunding Series 2001A

.600

11/01/29

4,433,962

820,000

McCamey County Hospital District, Texas, General Obligation

Bonds, Series 2013

.000

12/01/25

820,223

2,720,000

McCamey County Hospital District, Texas, General Obligation

Bonds, Series 2013

.250

12/01/28

2,723,362

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

2,520,000

(d) Mission Economic Development Corporation, Texas, Revenue

Bonds, Natgasoline Project, Senior Lien Series 2018, (AMT)

.625

%

10/01/31

$

2,523,019

1,800,000

Mission Economic Development Corporation, Texas,

Solid Waste Disposal Revenue Bonds, Graphic Packaging

International, LLC Project, Green Series 2025, (AMT),

(Mandatory Put 6/01/30)

.000

12/01/64

1,865,499

1,040,000

(c) Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Republic Services Inc.

Project, Adjustable Rate Series 2020A, (AMT), (Mandatory Put

11/03/25)

.850

05/01/50

1,039,877

3,000,000

(c) Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Republic Services Inc.

Project, Variable Rate Demand Obligation Series 2012, (AMT),

(Mandatory Put 11/03/25)

.850

01/01/26

2,999,645

10,000,000

Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Waste Management Inc.

Project, Series 2023A, (AMT), (Mandatory Put 7/01/27)

.250

06/01/48

10,059,843

660,000

Montgomery County, Texas, General Obligation Bonds, Road

Series 2025

.500

03/01/50

652,120

2,900,000

North East Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding Series 2025

.000

08/01/33

3,340,967

5,920,000

(f) North Texas Municipal Water District, Texas, Regional

Wastewater Revenue Bonds, Improvement and Refunding

Series 2025

.000

06/01/43

5,776,848

3,860,000

(e) North Texas Tollway Authority, Special Projects System Revenue

Bonds, Convertible Capital Appreciation Series 2011C, (Pre-

refunded 9/01/31)

.000

09/01/43

4,676,917

9,190,000

(e) North Texas Tollway Authority, Special Projects System Revenue

Bonds, Convertible Capital Appreciation Series 2011C, (Pre-

refunded 9/01/31)

.750

09/01/45

11,177,964

5,355,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier Series 2023A

.000

01/01/27

5,523,102

4,010,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier Series 2024A

.000

01/01/41

4,279,984

3,750,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier, Series 2008D - AGC Insured

.000

01/01/38

2,326,739

2,250,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier, Series 2017A

.000

01/01/43

2,287,637

5,000,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier, Series 2019A

.000

01/01/35

4,837,930

5,950,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier, Series 2020A

.000

01/01/37

6,001,580

7,500,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding Second Tier Series 2024B

.000

01/01/32

8,480,120

5,280,000

Pasadena Independent School District, Harris County, Texas,

General Obligation Bonds, Refunding Series 2015

.000

02/15/34

5,282,162

1,000,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2020, (AMT)

.625

01/01/35

925,314

6,865,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.750

01/01/36

5,660,880

13,675,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.875

01/01/41

9,923,447

1,000,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.000

01/01/50

661,665

2,000,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2024A, (AMT)

.000

01/01/39

1,977,371

1,270,000

Port of Houston Authority, Harris County, Texas, General

Obligation Bonds, First Lien Series 2021

.000

10/01/26

1,301,589

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

2,315,000

Round Rock, Texas, Combined Tax and Revenue Certificates of

Obligation, Series 2021A

.000

%

08/15/43

$

1,480,548

1,180,000

Round Rock, Texas, Combined Tax and Revenue Certificates of

Obligation, Series 2021C

.000

08/15/43

754,663

1,520,000

Round Rock, Texas, Combined Tax and Revenue Certificates of

Obligation, Series 2021C

.000

08/15/46

901,733

3,910,000

(f) San Antonio, Texas, Water System Revenue Bonds, Refunding

Junior Lien Series 2025C

.000

05/15/32

4,446,768

3,765,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025C, (Mandatory Put 11/15/32)

.000

11/15/64

4,191,710

5,000,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Refunding Series 2025B

.650

07/01/40

5,088,008

5,835,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Refunding Series 2025D

.750

07/01/40

6,009,848

13,980,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Series 2024C

.450

01/01/44

13,859,930

3,535,000

Texas Department of Housing and Community Affairs, Single

Family Mortgage Revenue Bonds, Series 2018A

.125

09/01/38

3,546,982

4,835,000

Texas Department of Housing and Community Affairs, Single

Family Mortgage Revenue Bonds, Series 2021A

.050

09/01/41

3,356,537

20,170,000

Texas Municipal Gas Acquisition and Supply Corporation IV,

Gas Supply Revenue Bonds, Series 2023A, (Mandatory Put

1/01/30)

.500

01/01/54

21,705,040

15,850,000

Texas Municipal Gas Acquisition and Supply Corporation IV,

Gas Supply Revenue Bonds, Series 2023B, (Mandatory Put

1/01/34)

.500

01/01/54

17,855,025

10,000,000

Texas Municipal Gas Acquisition and Supply Corporation V,

Texas, Gas Supply Revenue Bonds, Series 2024, (Mandatory Put

1/01/34)

.000

01/01/55

10,929,536

7,000,000

Texas Private Activity Bond Surface Transporation Corporation,

Revenue Bonds, NTE Mobility Partners LLC North Tarrant

Express Managed Lanes Project, Refunding Senior Lien Series

2019A

.000

12/31/37

6,863,746

3,940,000

Texas Private Activity Bond Surface Transporation Corporation,

Revenue Bonds, NTE Mobility Partners LLC North Tarrant

Express Managed Lanes Project, Refunding Senior Lien Series

2019A

.000

12/31/38

3,807,714

10,000,000

Texas Private Activity Bond Surface Transporation Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Segments 3C Project, Series 2019, (AMT)

.000

06/30/58

9,835,706

1,700,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

12/31/32

1,742,234

2,800,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/33

2,858,174

1,600,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/35

1,607,549

5,790,000

Texas State, General Obligation Bonds, College Student Loan

Series 2023A, (AMT)

.000

08/01/36

6,291,361

6,665,000

Texas State, General Obligation Bonds, Texas Transportation

Commission, Mobility Fund Refunding Series 2024

.000

10/01/32

7,662,101

10,000,000

Texas State, General Obligation Bonds, Transportation

Commission Highway Improvement, Series 2016A

.000

04/01/35

10,065,459

12,000,000

Texas Transportation Commission, Central Texas Turnpike

System Revenue Bonds, Refunding Second Tier Series 2024C

.000

08/15/38

13,045,886

6,065,000

Texas Transportation Commission, General Obligation Bonds,

Highway Improvement Refunding Series 2024

.000

04/01/26

6,141,587

5,590,000

Texas Transportation Commission, General Obligation Bonds,

Highway Improvement Refunding Series 2024

.000

04/01/28

5,954,485

5,000,000

Texas Transportation Commission, Highway Fund Revenue

Bonds, Refunding First Tier Series 2024

.000

10/01/32

5,730,818

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,125,000

Texas Transportation Commission, State Highway 249 System

Revenue Bonds, First Tier Toll Series 2019A

.000

%

08/01/35

$

747,661

1,605,000

Texas Transportation Commission, State Highway 249 System

Revenue Bonds, First Tier Toll Series 2019A

.000

08/01/36

1,010,163

2,120,000

Texas Transportation Commission, State Highway 249 System

Revenue Bonds, First Tier Toll Series 2019A

.000

08/01/37

1,259,636

1,100,000

Texas Transportation Commission, State Highway 249 System

Revenue Bonds, First Tier Toll Series 2019A

.000

08/01/39

583,123

1,000,000

Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2017A

.000

10/15/42

1,017,589

7,385,000

Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2018A

.000

10/15/30

7,824,451

15,315,000

(f) Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2025

.000

10/15/33

17,696,611

3,750,000

Travis County, Texas, General Obligation Bonds, Permanent

Improvement Limited Tax Series 2024

.000

03/01/39

4,113,086

10,780,000

Travis County, Texas, General Obligation Bonds, Permanent

Improvement Limited Tax Series 2024

.000

03/01/40

11,710,283

2,000,000

Williamson County, Texas, General Obligation Bonds, Tax Road

Series 2025

.000

02/15/28

2,119,609

2,250,000

Williamson County, Texas, General Obligation Bonds, Tax Road

Series 2025

.000

02/15/29

2,434,784

TOTAL TEXAS

679,331,219

UTAH - 0.6%

1,055,000

(d) Black Desert Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds Series 2021A

.250

03/01/31

1,020,480

1,600,000

(d) Black Desert Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds Series 2021A

.500

03/01/36

1,467,081

1,300,000

(d) Downtown East Streetcar Sewer Public Infrastructure District,

South Salt Lake, Salt Lake County, Utah, Limited Tax General

Obligation Bonds, Series 2022A

.750

03/01/42

1,302,632

1,790,000

(d) MIDA Military Installation Development Authority Golf and

Equestrian Center Public Infrastructure District, Utah, Limited

Tax and Tax Allocation Revenue Bonds, Series 2021

.125

06/01/36

1,595,102

1,250,000

(d) MIDA Mountain Village Public Infrastructure District, Utah,

Subordinate Tax Allocation Revenue Bonds, Series 2024-2

.500

06/15/39

1,264,583

6,790,000

Salt Lake City School District, Salt Lake County, Utah, General

Obligation Bonds, School Bond Guaranty Program, Series 2013

.000

03/01/38

7,689,590

3,900,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2021A, (AMT)

.000

07/01/26

3,959,939

5,000,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2021A, (AMT)

.000

07/01/31

5,515,400

1,405,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/30

1,532,426

9,000,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/31

9,927,719

5,000,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/33

5,565,456

2,700,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/35

2,946,130

1,145,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.250

07/01/36

1,258,393

1,125,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.250

07/01/37

1,225,945

6,585,000

Utah Housing Corporation, Single Family Mortgage Bonds,

Series 2024E

.600

07/01/44

6,635,526

TOTAL UTAH

52,906,402

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VERMONT - 0.1%

$

2,985,000

Vermont Economic Development Authority, Mortgage

Revenue Bonds, Wake Robin Corporation Project, Series 2021A

.000

%

05/01/37

$

2,792,197

3,439,000

Vermont Housing Finance Agency, Multiple Purpose Bonds,

Series 2021A

.450

11/01/41

2,614,909

3,465,000

Vermont Housing Finance Agency, Multiple Purpose Bonds,

Social Series 2024C

.450

11/01/44

3,437,843

TOTAL VERMONT

8,844,949

VIRGINIA - 1.7%

5,260,000

Amelia County Industrial Development Authority, Virginia,

Solid Waste Disposal Revenue Bonds, Waste Management Inc.,

Series 2002, (AMT)

.450

04/01/27

5,089,399

7,310,000

Arlington County Industrial Development Authority, Virginia,

Hospital Revenue Bonds, Virginia Hospital Center, Series

2023A, (Mandatory Put 7/01/31)

.000

07/01/53

7,983,148

6,325,842

Federal Home Loan Mortgage Corporation, Multifamily

Variable Rate Certificates Relating to Municipal Securities Class

A Green Series 2024ML-028

.095

11/25/42

6,216,486

3,835,000

Federal Home Loan Mortgage Corporation, Virginia,

Multifamily Variable Rate Certificates Relating to Municipal

Securities Series 2025ML-031

.497

06/25/42

3,883,448

5,000,000

(e) Hampton Roads Transportation Accountability Commission,

Virginia, Revenue Bonds, Hampton Roads Transportation Fund,

Senior Lien Bond Anticipation Notes, Series 2021A, (ETM)

.000

07/01/26

5,088,081

870,000

James City County Economic Development Authority, Virginia,

Residential Care Facility Revenue Bonds, Williamsburg Landing

Inc., Refunding Series 2021A

.000

12/01/35

830,025

1,000,000

Stafford County Economic Development Authority, Virginia,

Hospital Facilities Revenue Bonds, Mary Washington

Healthcare Obligated Group, Refunding Series 2016

.125

06/15/31

1,000,055

710,000

(d) Virginia College Building Authority, Educational Facilities

Revenue Bonds, Marymount University Project, Refunding

Series 2015A

.000

07/01/45

545,402

2,810,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-3

.400

10/01/44

2,810,039

1,500,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-4

.450

07/01/45

1,500,616

1,710,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-5

.150

07/01/40

1,718,279

500,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-5

.500

07/01/45

499,767

2,100,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2024F-1

.650

07/01/40

2,154,090

1,005,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2024F-2

.700

07/01/40

1,030,685

1,560,000

(f) Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2024F-3

.600

07/01/40

1,577,404

7,505,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2020B

.200

03/01/40

5,576,047

10,010,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2023D

.450

08/01/28

10,012,470

2,600,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2024H

.625

06/01/29

2,608,692

1,350,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2025A

.100

09/01/40

1,324,900

3,925,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2025A

.450

09/01/45

3,923,703

3,220,000

Virginia Small Business Financing Authority, Environmental

Facilities Revenue Bonds (Pure Salmon Virginia LLC Project),

Escrow Refinancing Series 2022, (AMT), (Mandatory Put

11/20/25)

.000

11/01/52

3,221,903

12,875,000

Virginia Small Business Financing Authority, Private Activity

Revenue Bonds, Transform 66 P3 Project, Senior Lien Series

2017, (AMT)

.000

12/31/49

12,610,689

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VIRGINIA

(continued)

$

10,375,000

Virginia Small Business Financing Authority, Private Activity

Revenue Bonds, Transform 66 P3 Project, Senior Lien Series

2017, (AMT)

.000

%

12/31/56

$

10,065,852

5,480,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

07/01/32

5,910,799

4,000,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

01/01/34

4,270,654

4,890,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

07/01/36

5,129,107

3,330,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

07/01/37

3,466,258

4,540,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

01/01/38

4,711,144

2,000,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

12/31/47

2,003,682

3,190,000

Virginia Small Business Financing Authority, Revenue Bonds, 95

Express Lanes LLC Project, Refunding Senior Lien Series 2022,

(AMT)

.000

12/31/52

3,179,346

5,250,000

Virginia Small Business Financing Authority, Revenue Bonds,

Elizabeth River Crossing OPCO, LLC Project, Refunding Senior

Lien Series 2022, (AMT)

.000

01/01/31

5,404,122

5,500,000

Virginia Small Business Financing Authority, Revenue Bonds,

Elizabeth River Crossing OPCO, LLC Project, Refunding Senior

Lien Series 2022, (AMT)

.000

01/01/34

5,574,647

10,000,000

Virginia Small Business Financing Authority, Revenue Bonds,

Elizabeth River Crossing OPCO, LLC Project, Refunding Senior

Lien Series 2022, (AMT)

.000

01/01/37

9,874,286

2,565,000

Wise County Industrial Development Authority, Virginia, Solid

Waste and Sewage Disposal Revenue Bonds, Virginia Electric

and Power Company, Series 2009A, (Mandatory Put 10/01/30)

.125

10/01/40

2,583,928

TOTAL VIRGINIA

143,379,153

WASHINGTON - 2.9%

3,725,000

Energy Northwest, Washington, Electric Revenue Bonds,

Columbia Generating Station, Refunding Series 2024A

.000

07/01/38

4,165,415

2,735,000

Energy Northwest, Washington, Electric Revenue Bonds,

Nuclear Project 1, Refunding Series 2024B

.000

07/01/26

2,786,672

7,915,000

(f) King and Snohomish Counties School District 417 Northshore,

Washington, General Obligation Bonds, Refunding Series 2025

.000

12/01/34

9,182,369

8,965,000

King County, Washington, Sewer Revenue Bonds, Refunding

Junior Lien Series 2020B, (Mandatory Put 1/01/26)

.875

01/01/42

8,894,873

7,980,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2017C, (AMT)

.000

05/01/31

8,171,343

8,800,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2018A, (AMT)

.000

05/01/31

9,011,005

5,300,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2019, (AMT)

.000

04/01/29

5,679,211

9,685,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Private Activity Series 2022B, (AMT)

.000

08/01/30

10,613,522

3,055,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Series 2016

.000

02/01/29

3,077,813

2,740,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Series 2021C, (AMT)

.000

08/01/32

2,999,793

2,340,000

Skagit County Public Hospital District 1, Washington, Revenue

Bonds, Skagit Valley Hospital, Refunding & Improvement Series

2016

.000

12/01/37

2,350,292

2,000,000

Washington Health Care Facilities Authority, Revenue Bonds,

CommonSpirit Health, Series 2019A-1

.000

08/01/28

2,118,813

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WASHINGTON

(continued)

$

5,930,000

Washington Health Care Facilities Authority, Revenue Bonds,

MultiCare Health System, Series 2015A

.000

%

08/15/40

$

5,930,942

14,085,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Health & Services, Refunding Series 2012A

.000

10/01/33

14,091,876

6,115,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/30

6,414,034

1,715,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/31

1,788,102

6,140,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/32

6,376,204

5,120,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/29

5,293,426

2,250,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/31

2,314,826

2,755,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/34

2,800,709

6,015,000

Washington Health Care Facilities Authority, Revenue Bonds,

Virginia Mason Medical Center, Series 2017

.000

08/15/36

6,063,765

2,265,000

(d) Washington State Housing Finance Commission, Non-Profit

Housing Revenue Bonds, Eliseo Project, Refunding Ser

2021B-1

.500

07/01/28

2,163,630

6,900,000

Washington State Housing Finance Commission, Single Family

Program Bonds, Series 2021-1N

.200

06/01/41

5,036,375

5,580,000

Washington State Housing Finance Commission, Single Family

Program Bonds, Series 2021-2N

.400

12/01/41

4,179,654

39,810,205

Washington State Housing Finance Commission, Social

Municipal Certificates Multifamily Revenue Bonds, Series 2021-

1 Class A

.500

12/20/35

38,380,649

6,063,298

Washington State Housing Finance Commission, Social

Municipal Certificates Multifamily Revenue Bonds, Series

2024A-1

.221

03/01/50

5,833,619

5,035,000

Washington State, General Obligation Bonds, Motor Vehicle

Fuel Tax & Vehicle Related Fees Refunding Series R-2022D

.000

07/01/28

5,257,246

11,035,000

Washington State, General Obligation Bonds, Motor Vehicle

Fuel Tax & Vehicle Related Fees Refunding Series R-2023B

.000

07/01/42

11,758,499

9,470,000

Washington State, General Obligation Bonds, Motor Vehicle

Fuel Tax & Vehicle Related Fees, Refunding Series R-2024C

.000

08/01/27

9,913,136

5,555,000

Washington State, General Obligation Bonds, Refunding

Various Purpose Series R-2018D

.000

08/01/27

5,814,939

4,155,000

Washington State, General Obligation Bonds, Refunding

Various Purpose Series R-2018D

.000

08/01/32

4,314,591

5,000,000

Washington State, General Obligation Bonds, Refunding

Various Purpose Series R-2023A

.000

08/01/27

5,233,968

5,090,000

Washington State, General Obligation Bonds, Various Purpose

Refunding Series 2025B

.000

07/01/28

5,452,271

6,750,000

Washington State, General Obligation Bonds, Various Purpose

Series 2021A

.000

08/01/44

7,004,903

4,030,000

Washington State, General Obligation Bonds, Various Purpose

Series 2023A

.000

08/01/45

4,217,895

4,975,000

Whidbey Island Public Hospital District, Island County,

Washington, General Obligation Bonds, Whidbey General

Hospital, Series 2013

.500

12/01/33

4,813,634

TOTAL WASHINGTON

239,500,014

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WEST VIRGINIA - 0.4%

$

1,665,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Series 2009A, (Mandatory Put

6/01/28)

.700

%

12/01/42

$

1,706,034

5,895,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Series 2009B, (Mandatory Put

6/01/28)

.700

12/01/42

6,040,284

1,675,000

(d) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35)

.450

01/01/55

1,748,053

11,480,000

(d) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 5/15/32)

.625

04/15/55

11,611,490

3,240,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2023D

.300

11/01/38

3,250,177

1,710,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2024A

.400

11/01/44

1,710,693

1,945,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2024D

.900

11/01/39

1,915,067

2,555,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2024D

.300

11/01/44

2,534,169

5,435,000

West Virginia Parkways Authority, Turnpike Toll Revenue Bonds,

Senior Lien Series 2018

.000

06/01/43

5,558,935

TOTAL WEST VIRGINIA

36,074,902

WISCONSIN - 2.6%

6,780,000

Central Brown County Water Authority, Wisconsin, Water

System Revenue Bonds, Refunding Series 2024A

.000

11/01/33

7,708,376

2,000,000

Madison Metropolitan School District, Dane County, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025A

.000

03/01/31

2,253,577

1,700,000

Madison Metropolitan School District, Dane County, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025A

.000

03/01/32

1,939,376

1,500,000

Madison Metropolitan School District, Dane County, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025A

.000

03/01/33

1,725,170

4,455,000

Middleton-Cross Plains Area School District, Dane County,

Wisconsin, General Obligation Bonds, Refunding Series 2021A

.000

03/01/26

4,429,409

4,555,000

Middleton-Cross Plains Area School District, Dane County,

Wisconsin, General Obligation Bonds, Refunding Series 2021A

.000

03/01/27

4,468,510

4,320,000

Milwaukee, Wisconsin, General Obligation Bonds, Promissory

Notes Series 2024-N1 - AGM Insured

.000

04/01/30

4,735,756

1,475,000

Mukwonago Area School District, Waukesha County,

Wisconsin, General Obligation Bonds, Promissory Note Series

2025

.250

04/01/44

1,435,798

10,035,000

Public Finance Authority of Wisconsin, Lease Development

Revenue Bonds, KU Campus Development Corporation-

Central District Development Project, Series 2016

.000

03/01/41

10,037,158

25,400,000

(d) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream Meadowlands Project,

Series 2017

.500

12/01/37

20,320,000

2,600,000

Public Finance Authority of Wisconsin, Pollution Control

Revenue Bonds, Duke Energy Progress Project, Refunding

Series 2022A-2, (Mandatory Put 10/01/26)

.300

10/01/46

2,607,462

8,495,000

Public Finance Authority of Wisconsin, Pollution Control

Revenue Bonds, Duke Energy Progress Project, Refunding

Series 2022A-2, (Mandatory Put 10/01/30)

.700

10/01/46

8,687,805

16,805,000

Public Finance Authority of Wisconsin, Solid Waste Disposal

Revenue Bonds, Waste Management Inc., Refunding Series

2016A-1

.625

11/01/25

16,786,036

7,955,000

Public Finance Authority of Wisconsin, Solid Waste Disposal

Revenue Bonds, Waste Management Inc., Refunding Series

2016A-2

.875

05/01/27

7,856,200

1,820,000

(d) Public Finance Authority, Wisconsin, Educational Revenue

Bonds, Lake Norman Charter School, Series 2018A

.000

06/15/28

1,821,393

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

4,170,000

Public Finance Authority, Wisconsin, Exempt Facilities Revenue

Bonds, Celanese Project, Refunding Series 2016C

.050

%

11/01/30

$

4,173,045

9,085,000

Public Finance Authority, Wisconsin, Exempt Facilities Revenue

Bonds, Celanese Project, Refunding Series 2016C

.300

11/01/30

9,096,790

8,000,000

Racine Unified School District, Racine County, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025

.000

04/01/44

7,693,401

4,770,000

Racine Unified School District, Racine County, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025

.000

04/01/45

4,550,939

1,500,000

Sheboygan Area School District, Manitowoc and Sheboygan

Counties, Wisconsin, General Obligation Bonds, Promissory

Notes Series 2024

.000

03/01/39

1,336,392

1,525,000

Sheboygan Area School District, Manitowoc and Sheboygan

Counties, Wisconsin, General Obligation Bonds, Promissory

Notes Series 2024

.000

03/01/40

1,335,301

6,130,000

West Allis-West Milwaukee, et al School District, Wisconsin,

General Obligation Bonds, Promissory Notes Series 2025

.000

04/01/39

5,488,401

1,080,000

Wisconsin Health & Educational Facs Authority, Health Facilities

Revenue Bonds, UnityPoint Health Project, Series 2014A

.000

12/01/26

1,081,023

4,115,000

Wisconsin Health & Educational Facs Authority, Health Facilities

Revenue Bonds, UnityPoint Health Project, Series 2014A

.000

12/01/27

4,125,186

7,825,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Advocate Aurora Health Credit Group, Series 2018 B-1,

(Mandatory Put 7/01/27)

.000

08/15/54

7,953,460

3,230,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, PHW Muskego, Inc. Project, Series 2021

.000

10/01/41

2,649,137

30,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Advocate Aurora Health Credit

Group, Series 2018C-1, (Mandatory Put 7/29/26)

.000

08/15/54

30,545

2,120,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Gundersen Health System,

Refunding Series 2021A

.000

10/15/34

2,169,189

1,455,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Gundersen Health System,

Refunding Series 2021A

.000

10/15/35

1,477,684

5,490,000

(e) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Marshfield Clinic Health System,

Inc., Series 2020B-2, (Pre-refunded 8/15/26), (Mandatory Put

2/15/27)

.000

02/15/51

5,603,247

1,470,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Oakwood Lutheran Senior

Ministries, Series 2021

.000

01/01/37

1,376,774

1,950,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Saint Camillus Health System Inc,

Series 2019A

.000

11/01/39

1,929,525

1,355,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, ThedaCare Inc, Series 2015

.000

12/15/25

1,356,455

4,440,000

Wisconsin Housing and Economic Development Authority,

Home Ownership Revenue Bonds, Social Series 2024C

.125

09/01/39

4,402,375

2,750,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2019A

.000

11/01/39

2,384,891

1,650,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2021C

.500

11/01/41

1,237,757

2,685,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2023E, (Mandatory Put

5/01/27)

.875

11/01/54

2,687,107

4,785,000

Wisconsin State, General Obligation Bonds, Refunding Series

2024-1

.000

05/01/32

5,509,005

7,000,000

Wisconsin State, General Obligation Bonds, Refunding Series

2025-3

.000

05/01/31

7,956,269

12,965,000

Wisconsin State, General Obligation Bonds, Series 2025A

.000

05/01/35

14,950,937

9,905,000

Wisconsin State, General Obligation Bonds, Series 2025B

.000

05/01/33

11,516,554

TOTAL WISCONSIN

210,883,415

#### Portfolio of Investments September 30, 2025
(continued)

#### Intermediate Duration

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WYOMING - 1.0%

$

16,300,000

Campbell County, Wyoming Solid Waste Facilities Revenue

Bonds, Basin Electric Power Cooperative, Dry Fork Station

Facilities, Series 2019A

.625

%

07/15/39

$

14,837,975

960,000

Casper Community College District, Natrona County,

Wyoming, Revenue Bonds, Refunding Series 2021

.000

04/15/37

973,382

1,000,000

Casper Community College District, Natrona County,

Wyoming, Revenue Bonds, Refunding Series 2021

.000

04/15/38

1,007,649

800,000

Consolidated Wyoming Municipalities Electric Power System

Joint Powers Board, Wyoming, Electric Facilities Improvement

Lease Revenue Bonds, Gillette Electrical System Project,

Refunding Series 2022

.000

06/01/33

896,640

1,415,000

Consolidated Wyoming Municipalities Electric Power System

Joint Powers Board, Wyoming, Electric Facilities Improvement

Lease Revenue Bonds, Gillette Electrical System Project,

Refunding Series 2022

.000

06/01/34

1,576,046

8,740,000

Sweetwater County 2023 Specific Purpose Joint Powers Board,

Wyoming, Sales and Use Excise Tax Revenue Bonds, Series

2023

.000

06/15/27

9,080,408

28,275,000

Sweetwater County, Wyoming, Pollution Control Revenue

Refunding Bonds, Idaho Power Company Project, Series 2006

.700

07/15/26

27,852,555

2,450,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2015 Series 6

.900

12/01/34

2,450,311

6,500,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2019 Series 3

.650

12/01/39

5,545,121

3,250,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2020 Series 1

.000

12/01/40

2,772,449

6,675,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2020 Series 2

.250

12/01/40

4,953,596

6,000,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2021 Series 3

.250

12/01/41

4,393,345

2,700,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2023 Series 1

.200

12/01/38

2,705,092

TOTAL WYOMING

79,044,569

TOTAL MUNICIPAL BONDS

(Cost $8,210,020,596)

7,984,295,569

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

1941619

VARIABLE RATE SENIOR LOAN INTERESTS - 0.0%

1941619

HEALTH CARE EQUIPMENT & SERVICES - 0.0%

812,771

(i) Jackson Hospital

.000

11/04/25

812,771

1,128,848

(i) Jackson Hospital, Inc. and Jackson Hospital Financing, LLC

.000

12/16/25

1,128,848

TOTAL HEALTH CARE EQUIPMENT & SERVICES

1,941,619

TOTAL VARIABLE RATE SENIOR LOAN INTERESTS

(Cost $1,935,920)

1,941,619

TOTAL LONG-TERM INVESTMENTS

(Cost $8,264,223,980)

8,035,133,579

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM INVESTMENTS - 1.3%

110029747

MUNICIPAL BONDS - 1.3%

110029747

CALIFORNIA - 0.2%

14,600,000

(j) Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Variable Rate Demand, Series 2021A-2

.000

07/01/51

14,600,000

TOTAL CALIFORNIA

14,600,000

MINNESOTA - 0.1%

8,395,000

(j) Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2015D, (AMT)

.940

01/01/46

8,395,000

TOTAL MINNESOTA

8,395,000

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK - 1.0%

$

26,000,000

(j) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Refunding Series 2012G-4

.500

%

11/01/30

$

26,000,000

10,575,000

(j) New York City Municipal Water Finance Authority, New York,

Water and Sewer System Revenue Bonds, Second Generation

Resolution, Variable Rate Demand Fiscal 2010 Series 2009CC

.900

06/15/41

10,575,000

10,000,000

(j) New York City Municipal Water Finance Authority, New York,

Water and Sewer System Second General Resolution Revenue

Bonds, Fiscal 2023 Series CC

.850

06/15/53

10,000,000

10,000,000

(j) New York City Municipal Water Finance Authority, New York,

Water and Sewer System Second General Resolution Revenue

Bonds, Fiscal 2025 Series EE-1

.900

06/15/55

10,000,000

14,460,000

(j) New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2026 Subseries Series

.500

05/01/55

14,460,000

10,000,000

(j) New York City, New York, General Obligation Bonds, Fiscal

2019 Series D-4

.850

12/01/47

10,000,000

TOTAL NEW YORK

81,035,000

TEXAS - 0.0%

12,000,000

Texas A&M University

.600

10/15/25

5,999,747

TOTAL TEXAS

5,999,747

TOTAL MUNICIPAL BONDS

(Cost $110,030,000)

110,029,747

TOTAL SHORT-TERM INVESTMENTS

(Cost $110,030,000)

110,029,747

TOTAL INVESTMENTS - 98.8%

(Cost $8,374,253,980)

8,145,163,326

BORROWINGS - (0.1)% (k)

(8,086,737)

OTHER ASSETS & LIABILITIES, NET - 1.3%

103,358,173

NET ASSETS - 100%

$

8,240,434,762

AMT

Alternative Minimum Tax

ETF

Exchange-Traded Fund

ETM

Escrowed to maturity

(a) Affiliated holding

(b) Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.

(c) Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of

the security. Coupon rate reflects the rate at period end.

(d) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the fiscal period, the aggregate value of these securities is $371,888,723 or 4.6% of Total Investments.

(e) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely

payment of principal and interest.

(f) When-issued or delayed delivery security.

(g) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of

bankruptcy.

(h) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding.

The rate shown is the coupon as of the end of the fiscal period.

(i) For fair value measurement disclosure purposes, investment classified as Level 3.

(j) Investment has a maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term

investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the

reporting period. This rate changes periodically based on market conditions or a specified market index.

(k) Borrowings as a percentage of Total Investments is 0.1%.

#### Portfolio of Investments September 30, 2025

#### Limited Term
See Notes To Financial Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 97.2%

4598356078

MUNICIPAL BONDS - 97.2%

4598356078

ALABAMA - 2.4%

$

975,000

Alabama Housing Finance Authority, Collateralized Single

Family Mortgage Revenue Bonds, Series 2024C

.100

%

10/01/39

$

964,289

7,970,000

Alabama Public School and College Authority, Capital

Improvement Pool Revenue Bonds, Refunding Series 2020A

.000

11/01/27

8,395,302

2,290,000

(a) Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Project 4 Series 2019A-1, (Pre-refunded 12/01/25),

(Mandatory Put 12/01/25)

.000

12/01/49

2,297,727

7,505,000

Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Project 7 Series 2021C-1, (Mandatory Put 12/01/26)

.000

10/01/52

7,596,023

2,410,000

Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Project 8 Series 2022A, (Mandatory Put 12/01/29)

.000

12/01/52

2,464,507

5,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Prepay BP PLC, Series 2024D

.000

11/01/28

5,253,944

2,500,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Prepay BP PLC, Series 2024D

.000

11/01/29

2,662,592

5,800,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2023C, (Mandatory Put 6/01/32)

.500

10/01/54

6,416,658

2,665,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2024B, (Mandatory Put 9/01/32)

.000

10/01/55

2,882,845

3,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2024C, (Mandatory Put 7/01/31)

.000

05/01/55

3,257,586

6,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025A, (Mandatory Put 5/01/32)

.250

05/01/56

6,244,432

1,100,000

(b) Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025D

.000

08/01/29

1,176,287

4,250,000

(b) Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025D, (Mandatory Put 8/01/35)

.000

12/01/55

4,658,182

8,530,000

Lower Alabama Gas District, Alabama, Goldman Sachs Gas

Project 2 Revenue Bonds, Series 2020A, (Mandatory Put

12/01/25)

.000

12/01/50

8,547,611

5,030,000

Mobile Industrial Development Board, Alabama, Pollution

Control Revenue Refunding Bonds, Alabama Power Company

Barry Plan, Series 2007A, (Mandatory Put 6/26/29)

.375

06/01/34

5,108,490

1,030,000

Selma Industrial Development Board, Alabama, Gulf

Opportunity Zone Revenue Bonds, International Paper

Company Project, Refunding Series 2019A, (Mandatory Put

10/01/31)

.450

11/01/33

1,036,422

4,000,000

Southeast Alabama Gas Supply District, Alabama, Gas Supply

Revenue Bonds, Project 2, Refunding Series 2024B, (Mandatory

Put 5/01/32)

.000

06/01/49

4,338,926

13,750,000

Southeast Energy Authority, Alabama, A Cooperative District

Energy Supply Revenue Bonds Series 2024A

.000

11/01/35

14,504,553

9,000,000

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 2, Series 2021B-1, (Mandatory Put

12/01/31)

.000

12/01/51

9,226,929

9,950,000

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 4, Series 2022B-1, (Mandatory Put

8/01/28)

.000

05/01/53

10,443,590

1,000,000

Southeast Energy Authority, Alabama, Revenue Bonds

Cooperative District Energy Supply Series 2024C, (Mandatory

Put 11/01/32)

.000

10/01/55

1,091,423

685,000

Southeast Energy Authority, Alabama, Revenue Bonds, A

Cooperative District Energy Supply Series 2025D

.000

09/01/30

736,051

1,000,000

Southeast Energy Authority, Alabama, Revenue Bonds, A

Cooperative District Energy Supply Series 2025D

.000

09/01/35

1,101,409

3,000,000

Southeast Energy Authority, Alabama, Revenue Bonds,

Cooperative District Energy Supply Series 2025B, (Mandatory

Put 1/01/33)

.250

03/01/55

3,208,840

TOTAL ALABAMA

113,614,618

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ALASKA - 1.3%

$

1,020,000

Alaska Housing Finance Corporation, Collateralized Mortgage

Bonds, Veterans Mortgage Program, 2024 First Series

.850

%

06/01/34

$

1,041,116

1,040,000

Alaska Housing Finance Corporation, Collateralized Mortgage

Bonds, Veterans Mortgage Program, 2024 First Series

.850

12/01/34

1,057,685

12,345,000

Alaska Housing Finance Corporation, Mortgage Revenue

Bonds, General Series 2020A-II

.000

12/01/35

10,179,343

23,000,000

Alaska Housing Finance Corporation, Mortgage Revenue

Bonds, General Series 2020B-II

.000

12/01/35

18,965,158

3,560,000

Alaska Housing Finance Corporation, Mortgage Revenue

Bonds, General Series 2022A-II

.150

12/01/36

2,896,616

8,110,000

Alaska Housing Finance Corporation, Mortgage Revenue

Bonds, Series 2022B-1

.150

06/01/36

6,699,551

3,565,000

Alaska Industrial Development and Export Authority, Power

Revenue Bonds, Snettisham Hydroelectric Project, Refunding

Series 2015, (AMT)

.000

01/01/26

3,567,895

5,145,000

Alaska Industrial Development and Export Authority, Revenue

Bonds, Greater Fairbanks Community Hospital Foundation

Project, Refunding Series 2019

.000

04/01/27

5,313,405

5,575,000

Alaska Industrial Development and Export Authority, Revenue

Bonds, Greater Fairbanks Community Hospital Foundation

Project, Refunding Series 2019

.000

04/01/29

5,987,364

165,000

Alaska Municipal Bond Bank, General Obligation Bonds, Three

Series 2015

.250

10/01/36

165,248

1,000,000

Alaska State, General Obligation Bonds, Refunding Series

2024B

.000

08/01/28

1,071,830

1,815,000

North Slope Borough, Alaska, General Obligation Bonds,

General Purpose Series 2023A

.000

06/30/26

1,849,301

1,525,000

North Slope Borough, Alaska, General Obligation Bonds,

General Purpose Series 2024A

.000

06/30/28

1,630,488

1,775,000

Northern Tobacco Securitization Corporation, Alaska, Tobacco

Settlement Asset-Backed Bonds, Senior Series 2021A Class 1

.000

06/01/28

1,861,999

TOTAL ALASKA

62,286,999

ARIZONA - 1.5%

5,000,000

Arizona Board of Regents, Arizona State University System

Revenue Bonds, Series 2025A

.000

07/01/29

5,472,731

5,055,000

(a) Arizona State, Certificates of Participation, Refunding Series

2019A, (ETM)

.000

10/01/27

5,319,425

6,760,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2007, (AMT), (Mandatory Put 6/15/28)

.100

12/01/37

6,803,529

1,940,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2019, (AMT), (Mandatory Put 6/01/29)

.000

06/01/49

1,981,198

11,010,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2022-2, (AMT), (Mandatory Put 9/01/27)

.000

09/01/52

11,198,630

3,600,000

Chandler, Arizona, General Obligation Bonds, Series 2017

.300

07/01/28

3,551,731

4,260,000

Coconino County, Arizona, Pollution Control Revenue Bonds,

Nevada Power Company Project, Refunding Series 2017B,

(AMT), (Mandatory Put 3/31/26)

.125

09/01/32

4,275,437

5,000,000

Maricopa County Industrial Development Authority, Arizona,

Revenue Bonds, Banner Health, Series 2023A-1, (Mandatory

Put 5/15/26)

.000

01/01/53

5,054,184

4,530,000

Maricopa County Pollution Control Corporation, Arizona,

Pollution Control Revenue Bonds, Public Service Company

of New Mexico Palo Verde Project, Refunding Series 2010A,

(Mandatory Put 10/01/26)

.875

06/01/43

4,397,884

2,150,000

Maricopa County Pollution Control Corporation, Arizona,

Pollution Control Revenue Bonds, Public Service Company

of New Mexico Palo Verde Project, Refunding Series 2010B,

(Mandatory Put 10/01/26)

.875

06/01/43

2,087,296

6,225,000

Phoenix Civic Improvement Corporation, Arizona, Airport

Revenue Bonds, Junior Lien Series 2019B, (AMT)

.000

07/01/36

6,464,918

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

615,000

Pinal County, Arizona, Pledged Revenue Obligations,

Refunding Series 2025 - BAM Insured

.000

%

08/01/28

$

658,302

1,225,000

Pinal County, Arizona, Pledged Revenue Obligations,

Refunding Series 2025 - BAM Insured

.000

08/01/29

1,343,251

2,000,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/28

2,142,346

1,000,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/29

1,095,677

3,515,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/30

3,933,019

3,715,000

Yavapai County Industrial Development Authority, Arizona,

Solid Waste Disposal Revenue Bonds, Waste Management Inc.,

Series 2002, (AMT)

.300

06/01/27

3,573,014

TOTAL ARIZONA

69,352,572

ARKANSAS - 0.4%

8,630,000

Fayetteville, Arkansas, Sales and Use Tax Revenue Bonds,

Capital Improvement Series 2022

.875

11/01/32

8,591,749

2,120,000

Rogers School District 30, Benton County, Arkansas, General

Obligation Bonds, Construction Series 2019

.125

02/01/31

1,977,600

2,560,000

Rogers School District 30, Benton County, Arkansas, General

Obligation Bonds, Refunding Series 2019

.000

02/01/27

2,560,290

3,915,000

Rogers School District 30, Benton County, Arkansas, General

Obligation Bonds, Refunding Series 2019

.000

02/01/29

3,916,357

TOTAL ARKANSAS

17,045,996

CALIFORNIA - 3.7%

17,460,000

Bay Area Toll Authority, California, Revenue Bonds, San

Francisco Bay Area Toll Bridge, Term Rate Series 2018A,

(Mandatory Put 4/01/26)

.625

04/01/45

17,425,723

2,500,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023C,

(Mandatory Put 10/01/31)

.250

01/01/54

2,668,454

3,560,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023F,

(Mandatory Put 11/01/30)

.500

10/01/54

3,900,134

5,375,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024B,

(Mandatory Put 12/01/32)

.000

01/01/55

5,695,149

6,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024D,

(Mandatory Put 9/01/32)

.000

02/01/55

6,591,397

2,900,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024H,

(Mandatory Put 8/01/33)

.000

01/01/56

3,237,393

600,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025C

.000

10/01/28

630,770

1,250,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025C

.000

10/01/29

1,333,733

6,750,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025D,

(Mandatory Put 7/01/34)

.000

10/01/55

7,264,605

2,030,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/27

2,096,111

2,915,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

06/01/28

3,062,459

19,790,000

California Municipal Finance Authority, Revenue Bonds, Linxs

APM Project, Senior Lien Series 2018A - AGM Insured, (AMT)

.000

12/31/30

19,436,068

2,000,000

California Municipal Finance Authority, Reveue Bonds,

Community Medical Centers, Series 2017A

.000

02/01/26

2,009,709

1,500,000

California Municipal Finance Authority, Reveue Bonds,

Community Medical Centers, Series 2017A

.000

02/01/27

1,534,433

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

2,700,000

(c) California Municipal Finance Authority, Solid Waste Disposal

Revenue Bonds, Republic Services Inc. Project, Series 2021B,

(AMT), (Mandatory Put 1/15/26)

.850

%

07/01/51

$

2,698,848

9,410,000

California Municipal Finance Authority, Solid Waste Disposal

Revenue Bonds, Waste Management Inc. Project, Series 2019A,

(AMT), (Mandatory Put 10/01/29)

.400

10/01/44

8,996,408

2,565,000

(c),(d)

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Republic Services Inc., Refunding

Series 2023, (AMT), (Mandatory Put 2/17/26)

.800

07/01/43

2,563,233

6,840,000

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Waste Management Inc., Refunding

Series 2015A-2, (AMT)

.625

07/01/27

6,840,670

6,700,000

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Waste Management, Inc. Project,

Refunding Series 2015B-1, (AMT)

.000

11/01/25

6,698,773

10,000,000

California State, General Obligation Bonds, Various Purpose

Refunding Series 2025

.000

08/01/28

10,740,375

2,000,000

California State, General Obligation Bonds, Various Purpose

Series 2024

.000

08/01/31

2,276,547

5,600,000

California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2014A

.250

12/01/29

5,605,956

1,000,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/27

1,012,933

1,070,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.000

12/01/26

1,087,647

350,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.000

12/01/27

361,442

2,815,000

Central Valley Energy Authority, California, Commodity Supply

Revenue Bonds, Series 2025, (Mandatory Put 8/01/35)

.000

12/01/55

3,084,606

8,655,000

Federal Home Loan Mortgage Corporation, California,

Multifamily Variable Rate Certificates Relating to Municipal

Securities Class A Series 2019M-057

.400

10/15/29

8,325,977

6,000,000

Los Angeles Community College District, California, General

Obligation Bonds, Refunding Series 2024

.000

08/01/27

6,332,893

1,500,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding &

Subordinate Green Series 2023A, (AMT)

.000

05/15/26

1,521,690

2,250,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding &

Subordinate Green Series 2023A, (AMT)

.000

05/15/27

2,335,341

2,000,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding &

Subordinate Green Series 2023A, (AMT)

.000

05/15/28

2,115,023

2,835,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding &

Subordinate Green Series 2023A, (AMT)

.000

05/15/29

3,051,461

4,000,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding Senior

Lien Series 2018B, (AMT)

.000

05/15/26

4,057,840

2,780,000

Sacramento Municipal Utility District, California, Electric

Revenue Bonds, Refunding Series 2023D, (Mandatory Put

10/15/30)

.000

08/15/49

3,098,607

2,000,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, International Senior Series 2023B,

(AMT)

.000

07/01/28

2,118,731

2,000,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, International Senior Series 2023B,

(AMT)

.000

07/01/29

2,157,719

2,750,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Senior Series 2025B, (AMT)

.000

07/01/30

3,018,600

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

4,370,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2019A, (AMT)

.000

%

05/01/36

$

4,539,293

3,475,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2019H, (AMT)

.000

05/01/28

3,656,919

TOTAL CALIFORNIA

175,183,670

COLORADO - 1.7%

2,980,000

Boulder Larimer & Weld Counties School District RE-1J Saint

Vrain Valley, Colorado, General Obligation Bonds, Series 2024

.000

12/15/29

3,303,567

1,900,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

AdventHealth Obligated Group, Series 2024A, (Mandatory Put

11/15/29)

.000

11/15/59

2,065,839

18,520,000

Colorado Health Facilities Authority, Colorado, Revenue

Bonds, CommonSpirit Health, Series 2019B-2, (Mandatory Put

8/01/26)

.000

08/01/49

18,616,085

1,000,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2022A

.000

11/01/26

1,022,446

13,000,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Intermountain Healthcare, Series 2022C, (Mandatory Put

8/15/28)

.000

05/15/62

13,782,469

11,850,000

Colorado Housing and Finance Authority, Multi Family Project

Bonds, Class I Series 2025C-2

.350

07/01/28

12,023,384

630,000

Colorado Housing and Finance Authority, Single Family

Mortgage Bonds, Class I Series 2021E

.950

11/01/36

505,444

2,500,000

Colorado Housing and Finance Authority, Single Family

Mortgage Bonds, Class I Series 2021H

.800

11/01/36

1,936,548

257,000

Cornerstar Metropolitan District, Arapahoe County, Colorado,

General Obligation Bonds, Limited Tax Convertible to

Unlimited Tax, Refunding Series 2017A

.500

12/01/27

257,033

4,930,000

Dawson Trails Metropolitan District 1, Colorado, In The

Town of Castle Rock, Limited Tax General Obligation Capital

Appreciation Turbo Bonds, Series 2024

.000

12/01/31

3,112,409

6,435,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022A, (AMT)

.000

11/15/26

6,597,739

5,600,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022A, (AMT)

.000

11/15/27

5,859,121

4,170,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2018A, (AMT)

.000

12/01/26

4,274,898

1,290,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2023B, (AMT)

.000

11/15/26

1,321,181

738,000

Gardens on Havana Metropolitan District 3, Arapahoe County,

Colorado, Special Revenue Bonds, Refunding Series 2017A

.625

12/01/27

738,232

500,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

01/15/26

499,458

425,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

07/15/26

430,730

1,425,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

01/15/27

1,457,467

625,000

Regional Transportation District, Colorado, Private Activity

Bonds, Denver Transit Partners Eagle P3 Project, Series 2020A

.000

07/15/27

644,061

415,000

Sterling Ranch Community Authority Board, Douglas County,

Colorado, Limited Tax Supported District 2, Refunding &

Improvement Senior Series 2020A

.375

12/01/30

405,457

805,000

Transport Metropolitan District 3, In the City of Aurora, Adams

County, Colorado, General Obligation Limited Bonds, Series

2021A-1

.125

12/01/31

746,391

TOTAL COLORADO

79,599,959

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CONNECTICUT - 1.5%

$

6,715,000

Connecticut Health and Educational Facilities Authority, Chefa

Revenue Bonds, Yale University, Remarketing Series 2017B-2,

(Mandatory Put 7/01/26)

.200

%

07/01/37

$

6,730,768

6,160,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Yale-New Haven Health Issue, Series 2024B,

(Mandatory Put 7/01/29)

.000

07/01/49

6,611,629

1,955,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2018D-1

.750

11/15/33

1,972,788

5,000,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2019F-1

.600

11/15/34

4,478,487

3,525,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020A-1

.300

11/15/35

2,925,132

4,350,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020C-1

.950

11/15/35

3,537,971

1,190,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020C-2, (AMT)

.200

11/15/34

997,281

3,425,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2021A-1

.700

05/15/34

2,828,541

4,075,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2021B-1

.000

11/15/36

3,248,074

12,115,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2021D-1

.000

11/15/36

9,656,544

2,835,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2025B-2, (Mandatory Put

5/15/28)

.300

05/15/60

2,855,668

12,000,000

(b) Connecticut State, General Obligation Bonds, Refunding Series

2025D

.000

08/15/29

13,130,529

1,510,000

Connecticut State, General Obligation Bonds, Series 2022E

.000

11/15/26

1,551,743

2,750,000

Connecticut State, General Obligation Bonds, Series 2024D

.000

05/01/27

2,857,360

3,220,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Refunding Series 2022B

.000

07/01/26

3,280,109

2,600,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2024B

.000

07/01/28

2,780,024

1,955,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Series 2024B

.000

07/01/29

2,136,894

TOTAL CONNECTICUT

71,579,542

DELAWARE - 0.1%

3,735,000

Delaware Economic Development Authority, Gas Facilities

Revenue Bonds, Delmarva Power & Light Company Project,

Refunding Series 2020A

.600

01/01/31

3,871,669

1,635,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024D

.000

07/01/39

1,619,872

TOTAL DELAWARE

5,491,541

DISTRICT OF COLUMBIA - 1.5%

6,750,000

District of Columbia, General Obligation Bonds, Refunding

Series 2024B

.000

08/01/31

7,659,772

10,000,000

District of Columbia, General Obligation Bonds, Refunding

Series 2024C

.000

12/01/30

11,243,341

3,700,000

District of Columbia, Income Tax Secured Revenue Bonds,

Refunding Series 2023C

.000

10/01/32

4,245,890

3,500,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Forward Delivery Refunding Series

2020A, (AMT)

.000

10/01/32

3,784,794

5,000,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Forward Delivery Series

2020A, (AMT)

.000

10/01/31

5,436,633

5,000,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2016A, (AMT)

.000

10/01/32

5,078,754

5,290,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2017, (AMT)

.000

10/01/30

5,478,768

8,200,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2021A, (AMT)

.000

10/01/27

8,558,511

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

DISTRICT OF COLUMBIA

(continued)

$

3,000,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2022A, (AMT)

.000

%

10/01/28

$

3,191,878

6,540,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2023A, (AMT)

.000

10/01/33

7,206,817

3,880,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2024A, (AMT)

.000

10/01/27

4,049,637

6,205,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2024A, (AMT)

.000

10/01/28

6,601,868

TOTAL DISTRICT OF COLUMBIA

72,536,663

FLORIDA - 3.6%

4,185,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2015A, (AMT)

.000

10/01/27

4,191,898

2,000,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2017, (AMT)

.000

10/01/34

2,050,336

500,000

(d) Florida Development Finance Corporation, Florida, Solid

Waste Disposal Revenue Bonds, GFL Solid Waste Southeast

LLC Project Series 2024A, (AMT), (Mandatory Put 10/01/31)

.375

10/01/54

505,086

2,360,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT), (Mandatory Put

7/15/28)

.000

07/15/32

1,472,050

5,055,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/34

4,244,582

4,765,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/35

4,003,877

17,415,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/36

14,644,260

10,215,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/37

8,591,005

18,065,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Series

2025B, (AMT), (Mandatory Put 6/15/26)

.000

07/01/57

15,390,914

1,325,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2018-2

.750

07/01/33

1,332,509

6,925,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2019-1

.800

07/01/34

6,394,092

1,575,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2024-5

.950

07/01/39

1,563,667

2,310,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Social Series 2021-1

.800

07/01/36

1,810,127

2,825,000

Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Social Series 2021-2

.800

07/01/36

2,213,683

15,910,000

Florida Municipal Power Agency, Power Supply Revenue

Bonds, All Requirements Project, Series 2025A

.000

10/01/29

17,432,622

7,870,000

Florida Municipal Power Agency, Power Supply Revenue

Bonds, All Requirements Project, Series 2025A

.000

10/01/30

8,775,606

22,060,000

Greater Orlando Aviation Authority, Florida, Airport Facilities

Revenue Bonds, Series 2019A, (AMT)

.000

10/01/27

23,024,481

2,610,000

Hillsborough County Aviation Authority, Florida, Revenue

Bonds, Tampa International Airport, Alternative Minimum Tax

Refunding Subordinate Lien Series 2022A, (AMT)

.000

10/01/26

2,666,066

9,030,000

Lee County, Florida, Airport Revenue Bonds, Refunding Series

2021A, (AMT)

.000

10/01/30

9,864,907

2,485,000

Manatee County School District, Florida, Sales Tax Revenue

Bonds, Series 2017 - AGM Insured

.000

10/01/26

2,546,811

2,200,000

Manatee County School District, Florida, Sales Tax Revenue

Bonds, Series 2017 - AGM Insured

.000

10/01/27

2,267,710

3,120,000

Manatee County School District, Florida, Sales Tax Revenue

Bonds, Series 2017 - AGM Insured

.000

10/01/28

3,212,543

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,715,000

Manatee County School District, Florida, Sales Tax Revenue

Bonds, Series 2017 - AGM Insured

.000

%

10/01/29

$

2,793,968

4,505,000

Miami-Dade County Industrial Development Authority, Florida,

Solid Waste Disposal Revenue Bonds, Waste Management Inc

Project, Series 2018B, (AMT), (Mandatory Put 7/01/26)

.000

11/01/48

4,504,897

4,100,000

Miami-Dade County, Florida, Aviation Revenue Bonds,

Refunding Series 2024A, (AMT)

.000

10/01/28

4,356,152

2,240,000

Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th

Cent Contract Payments, Refunding Senior Series 2017A - AGM

Insured

.000

11/01/29

2,341,120

9,215,000

Orlando, Florida, Tourist Development Tax Revenue Bonds, 6th

Cent Contract Payments, Refunding Senior Series 2017A - AGM

Insured

.000

11/01/30

9,628,505

2,525,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/28

2,708,347

2,635,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/29

2,891,391

1,110,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/30

1,242,155

780,000

Seminole County, Florida, Water and Sewer Revenue Bonds,

Refunding Series 2025A

.000

10/01/30

873,256

1,370,000

Seminole County, Florida, Water and Sewer Revenue Bonds,

Refunding Series 2025A

.000

10/01/31

1,554,743

TOTAL FLORIDA

171,093,366

GEORGIA - 2.4%

3,500,000

Atlanta, Georgia, Airport General Revenue Bonds, Green Series

2025B-1, (AMT)

.000

07/01/30

3,833,693

2,000,000

Atlanta, Georgia, Airport General Revenue Bonds, Refunding

Series 2023G, (AMT)

.000

07/01/26

2,031,636

1,250,000

Atlanta, Georgia, Airport General Revenue Bonds, Refunding

Series 2023G, (AMT)

.000

07/01/27

1,296,965

2,625,000

Atlanta, Georgia, Airport General Revenue Bonds, Refunding

Series 2023G, (AMT)

.000

07/01/28

2,783,701

5,000,000

Atlanta, Georgia, Airport General Revenue Bonds, Refunding

Series 2023G, (AMT)

.000

07/01/29

5,394,296

3,250,000

(b) Douglas County School District, Georgia, General Obligation

Bonds, Series 2025

.000

04/01/30

3,607,633

2,925,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2020A

.750

12/01/35

2,591,466

2,750,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2021A

.250

12/01/36

2,214,378

1,930,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2024A

.100

12/01/39

1,918,897

1,045,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2025C

.900

06/01/31

1,074,272

580,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2025C

.900

12/01/31

596,911

1,110,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2025C

.950

06/01/32

1,143,190

450,000

Georgia Housing and Finance Authority, Single Family

Mortgage Bonds, Series 2025C

.950

12/01/32

463,980

5,075,000

Georgia State, General Obligation Bonds, Series 2017A

.000

02/01/29

5,252,626

5,085,000

Georgia State, General Obligation Bonds, Series 2017A

.000

02/01/31

5,255,690

2,040,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2021A, (Mandatory Put 9/01/27)

.000

07/01/52

2,083,275

10,110,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022A, (Mandatory Put 12/01/29)

.000

09/01/52

10,374,265

6,500,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022B, (Mandatory Put 6/01/29)

.000

12/01/52

6,888,904

15,800,000

(d) Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022C, (Mandatory Put 11/01/27)

.000

08/01/52

15,899,444

7,150,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023B, (Mandatory Put 3/01/30)

.000

07/01/53

7,695,729

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

GEORGIA

(continued)

$

3,500,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023E-1, (Mandatory Put 6/01/31)

.000

%

12/01/53

$

3,773,091

5,595,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2024D, (Mandatory Put 4/01/31)

.000

04/01/54

6,058,892

5,570,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2025A, (Mandatory Put 6/01/32)

.000

06/01/55

6,062,904

1,120,000

Monroe County Development Authority, Georgia, Pollution

Control Revenue Bonds, Georgia Power Company - Scherer

Plant, Series 2009-2, (Mandatory Put 3/06/26)

.875

10/01/48

1,124,384

11,500,000

Richmond County Board of Education, Georgia, General

Obligation Bonds, Sales Tax Series 2025

.000

10/01/29

12,651,245

TOTAL GEORGIA

112,071,467

GUAM - 0.0%

2,100,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.000

01/01/30

2,250,885

TOTAL GUAM

2,250,885

HAWAII - 0.7%

5,335,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Refunding Series 2019

.200

07/01/39

4,631,535

10,820,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Series 2017A, (AMT)

.100

05/01/26

10,722,080

6,025,000

Honolulu City and County, Hawaii, General Obligation Bonds,

Refunding Series 2017D

.000

09/01/30

6,281,271

9,460,000

Maui County, Hawaii, General Obligation Bonds, Series 2025

.000

09/01/29

10,392,000

TOTAL HAWAII

32,026,886

IDAHO - 0.6%

6,020,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2018A

.000

03/01/26

6,075,524

4,815,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2018A

.000

03/01/29

5,094,127

4,880,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2018A

.000

03/01/31

5,145,697

5,010,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2025B, (Mandatory Put 3/01/32)

.000

03/01/60

5,489,235

6,000,000

Idaho State Building Authority, Sales Tax Revenue Education

Bonds, School Modernization Facilities Series 2024A

.000

06/01/28

6,417,794

TOTAL IDAHO

28,222,377

ILLINOIS - 5.0%

1,515,000

Adams County School District 172, Quincy, Illinois, General

Obligation Bonds, Series 2016 - AGM Insured

.000

02/01/27

1,526,278

550,000

Chanpaign County Community Unit School District 4, Illinois,

General Obligation Bonds, School Building Series 2020A

.000

01/01/26

545,180

780,000

Chanpaign County Community Unit School District 4, Illinois,

General Obligation Bonds, School Building Series 2020A

.000

01/01/27

747,334

585,000

Chanpaign County Community Unit School District 4, Illinois,

General Obligation Bonds, School Building Series 2020A

.000

01/01/28

541,906

3,300,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2017G

.000

12/01/34

3,315,120

20,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Refunding Senior Lien Series 2022C

.000

01/01/26

20,109

2,510,000

Chicago, Illinois, General Obligation Bonds, Chicago Works

Series 2023A

.000

01/01/34

2,609,974

1,970,000

(a) Chicago, Illinois, General Obligation Bonds, Refunding Series

2016C, (ETM)

.000

01/01/26

1,981,004

1,185,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/27

1,214,809

3,250,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/28

3,393,152

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

20,000

(a) DuPage County School District 58 Downers Grove, Illinois,

General Obligation Bonds, Limited Tax Capital Appreciation

School Series 2018, (ETM)

.000

%

12/15/26

$

19,382

980,000

DuPage County School District 58 Downers Grove, Illinois,

General Obligation Bonds, Limited Tax Capital Appreciation

School Series 2018

.000

12/15/26

943,132

1,050,000

DuPage County School District 58 Downers Grove, Illinois,

General Obligation Bonds, Limited Tax Capital Appreciation

School Series 2018

.000

12/15/27

979,427

8,130,000

Grundy, Kendall, and Will Counties Community Consolidated

School District 201, Minooka, Illinois, General Obligation

Bonds, Refunding School Series 2019

.000

10/15/27

8,173,140

20,875,000

Illinois Development Finance Authority, Revenue Bonds, St

Vincent de Paul Center Project, Series 2000A, (Mandatory Put

3/03/26)

.450

11/15/39

20,833,766

11,300,000

Illinois Finance Authority, Midwestern Disaster Area Industrial

Development Revenue Bonds, Cargill, Incorporated Project,

Series 2012, (Mandatory Put 11/01/26)

.250

11/01/38

11,020,424

2,200,000

Illinois Finance Authority, Revenue Bonds, Advocate Health

Care Network, Series 2008A-1

.000

11/01/30

2,245,423

1,700,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

and Medical Centers, Refunding Series 2025A

.000

08/15/30

1,854,443

3,000,000

(a) Illinois Finance Authority, Revenue Bonds, Swedish Covenant

Hospital, Series 2016A, (ETM)

.000

08/15/26

3,064,502

1,035,000

Illinois Finance Authority, Revenue Bonds, University of

Chicago Medicine, Series 2022A, (Mandatory Put 8/15/27)

.000

08/15/52

1,070,078

4,000,000

Illinois Finance Authority, Revenue Bonds, University of

Chicago Medicine, Series 2025A-1, (Mandatory Put 8/15/30)

.000

08/15/54

4,412,215

3,100,000

(d) Illinois Finance Authority, Surface Freight Transfer Facilities

Revenue Bonds, CenterPoint Joliet Terminal Railroad Project,

Series 2017, (AMT), (Mandatory Put 7/02/35)

.800

12/01/43

3,184,283

8,680,000

(d) Illinois Finance Authority, Surface Freight Transfer Facilities

Revenue Bonds, CenterPointJoliet Terminal Railroad Project,

Series 2020, (AMT), (Mandatory Put 12/31/34)

.125

12/01/50

8,611,477

1,000,000

Illinois Finance Authority, Water Facilities Revenue Bonds,

American Water Capital Corporation Project, Refunding Series

2019, (Mandatory Put 10/01/29)

.450

10/01/39

972,694

2,000,000

Illinois Finance Authority, Water Facilities Revenue Bonds,

American Water Capital Corporation Project, Refunding Series

2020, (Mandatory Put 9/01/28)

.875

05/01/40

2,052,243

10,135,000

Illinois Housing Development Authority, Revenue Bonds,

Green Series 2021B

.950

10/01/36

8,153,148

15,000,000

Illinois Municipal Electric Agency, Power Supply System

Revenue Bonds, Refunding Series 2025A

.000

02/01/31

16,707,354

5,475,000

Illinois State, General Obligation Bonds, June Series 2016

.000

06/01/28

5,556,690

695,000

Illinois State, General Obligation Bonds, November Series

2017C

.000

11/01/29

726,459

760,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/25

761,458

6,405,000

Illinois State, General Obligation Bonds, November Series

2017D

.250

11/01/26

6,434,922

5,525,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/26

5,661,578

13,260,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/27

13,871,757

5,745,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/28

6,004,921

5,000,000

Illinois State, General Obligation Bonds, November Series

2019B

.000

11/01/30

5,418,605

10,810,000

Illinois State, General Obligation Bonds, October Series 2016

.000

02/01/28

11,129,221

65,000

Illinois State, General Obligation Bonds, Refunding October

Series 2024

.000

02/01/26

65,503

2,545,000

Illinois State, General Obligation Bonds, Refunding October

Series 2024

.000

02/01/27

2,622,620

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

11,000,000

Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding

Junior Obligation March Series 2025A

.000

%

06/15/28

$

11,638,332

5,000,000

Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding

Junior Obligation March Series 2025A

.000

06/15/29

5,389,440

1,005,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Refunding Senior Lien Series 2016A

.000

12/01/32

1,009,595

2,945,000

Illinois, General Obligation Bonds, Illinois FIRST Program,

Series 2001 - FGIC Insured

.000

11/01/26

2,988,310

1,235,000

LaSalle and Bureau Counties High School District 120 LaSalle-

Peru, Illinois, General Obligation Bonds, School Building Series

2017 - BAM Insured

.000

12/01/26

1,264,203

775,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/25

777,924

1,925,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/26

1,972,097

360,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/27

376,341

1,945,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/28

2,025,410

650,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/30

676,115

1,000,000

North Barrington, Lake County, Illinois, Special Tax Bonds,

Special Service Area 19, Refunding Series 2019 - BAM Insured

.000

02/01/33

1,023,752

1,000,000

North Barrington, Lake County, Illinois, Special Tax Bonds,

Special Service Area 19, Refunding Series 2019 - BAM Insured

.000

02/01/36

1,010,660

1,895,000

North Barrington, Lake County, Illinois, Special Tax Bonds,

Special Service Area 19, Refunding Series 2019 - BAM Insured

.000

02/01/40

1,892,988

2,010,000

North Barrington, Lake County, Illinois, Special Tax Bonds,

Special Service Area 19, Refunding Series 2019 - BAM Insured

.000

02/01/44

1,925,684

325,000

Northern Illinois University, Auxiliary Facilities System Revenue

Bonds, Series 2021 - BAM Insured

.000

10/01/25

325,000

250,000

Northern Illinois University, Auxiliary Facilities System Revenue

Bonds, Series 2021 - BAM Insured

.000

10/01/26

254,998

1,258,000

Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood

Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 -

BAM Insured

.450

03/01/26

1,259,611

1,218,000

Round Lake, Lake County, Illinois, Special Tax Bonds, Lakewood

Grove Special Service Areas 1, 3 & 4, Refunding Series 2017 -

BAM Insured

.600

03/01/28

1,230,038

8,240,000

Sales Tax Securitization Corporation, Illinois, Sales Tax

Securitization Bonds, Series 2018C

.000

01/01/28

8,658,094

2,780,000

Southwestern Illinois Development Authority, Health Facility

Revenue Bonds, Hospital Sisters Services, Inc. Obligated

Group, Series 2017A

.000

02/15/26

2,801,330

3,665,000

Southwestern Illinois Development Authority, Health Facility

Revenue Bonds, Hospital Sisters Services, Inc. Obligated

Group, Series 2017A

.000

02/15/27

3,776,218

13,615,000

Springfield, Illinois, Electric Revenue Bonds, Refunding Senior

Lien Series 2024 - BAM Insured

.000

03/01/29

14,594,596

TOTAL ILLINOIS

235,316,467

INDIANA - 2.8%

18,060,000

Indiana Finance Authority, Environmental Facilities Revenue

Bonds, Indianapolis Power & Light Company Project, Refunding

Series 2020A, (AMT), (Mandatory Put 4/01/26)

.950

12/01/38

17,822,872

8,885,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, Southern Indiana Gas & Electric Company,

Refunding Series 2013A, (AMT), (Mandatory Put 8/01/28)

.000

03/01/38

9,003,476

21,115,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, Southern Indiana Gas & Electric Company,

Refunding Series 2013A, (AMT), (Mandatory Put 8/01/28)

.000

05/01/43

21,219,995

1,100,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, United States Steel Corporation Project,

Refunding Series 2021A

.125

12/01/26

1,102,266

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

INDIANA

(continued)

$

5,750,000

Indiana Finance Authority, Environmental Revenue Bonds,

Duke Energy Indiana, Inc. Project, Refunding Series 2009A-1,

(AMT), (Mandatory Put 6/01/27)

.750

%

03/01/31

$

5,801,575

7,490,000

Indiana Finance Authority, Environmental Revenue Bonds,

Duke Energy Indiana, Inc. Project, Refunding Series 2009A-1,

(AMT), (Mandatory Put 6/01/32)

.500

05/01/35

7,581,600

7,695,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

University Health Obligation Group, Long Term Rate Series

2023B-1, (Mandatory Put 7/01/28)

.000

10/01/62

8,119,742

7,765,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

University Health Series 2025D-1, (Mandatory Put 10/01/29)

.000

10/01/64

8,378,183

8,075,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

Unversity Health Obligation Group, Refunding Series 2011M,

(Mandatory Put 1/01/26)

.700

12/01/46

8,026,483

1,540,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, Refunding First Lien Forward Delivery

Series 2022A

.000

10/01/26

1,578,151

1,645,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, Refunding First Lien Forward Delivery

Series 2022A

.000

10/01/27

1,729,729

1,250,000

Indiana Finance Authority, Wastewater Utility Revenue Bonds,

CWA Authority Project, Series 2015A

.000

10/01/26

1,252,607

3,520,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Series 2020B-1

.950

07/01/35

2,897,478

1,250,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Series 2021A

.900

07/01/36

1,011,330

2,610,000

Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Social PAC Series

2021B

.900

07/01/36

2,111,658

6,000,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Airport Authority Project Revenue Bonds, Refunding Series

2019D, (AMT)

.000

01/01/27

6,150,935

3,450,000

Rockport, Indiana, Pollution Control Revenue Refunding Bonds,

Indiana Michigan Power Company Project, Series 2025A,

(Mandatory Put 6/01/29)

.700

06/01/47

3,543,050

2,800,000

(b) Valparaiso 21st Century School Building Corporation, Porter

County, Indiana, First Mortgage Bonds, Ad Valorem Property

Tax Refunding Series 2025

.000

01/15/29

3,014,202

1,000,000

Westfield-Washington Multi-School Building Corporation,

Hamilton County, Indiana, First Mortgage Bonds, Series 2024A

- BAM Insured

.000

07/15/29

1,085,252

1,000,000

Westfield-Washington Multi-School Building Corporation,

Hamilton County, Indiana, First Mortgage Bonds, Series 2024A

- BAM Insured

.000

07/15/30

1,106,415

1,000,000

Westfield-Washington Multi-School Building Corporation,

Hamilton County, Indiana, First Mortgage Bonds, Series 2024A

- BAM Insured

.000

01/15/31

1,114,764

9,815,000

Whiting, Indiana, Environmental Facilities Refunding Revenue

Bonds, BP Products North America Inc. Project, Refunidng

Series 2019A, (AMT), (Mandatory Put 6/05/26)

.000

12/01/44

9,945,524

3,775,000

Whiting, Indiana, Environmental Facilities Revenue Bonds, BP

Products North America Inc. Project, Series 2008, (Mandatory

Put 6/21/35)

.200

06/01/44

3,951,636

5,755,000

Whiting, Indiana, Environmental Facilities Revenue Bonds,

BP Products North America Inc. Project, Series 2015, (AMT),

(Mandatory Put 6/10/31)

.400

11/01/45

6,139,690

TOTAL INDIANA

133,688,613

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

IOWA - 0.4%

$

5,300,000

(a) Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

Series 2022, (Pre-refunded 12/01/32), (Mandatory Put

12/01/32)

.000

%

12/01/50

$

5,761,809

3,000,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Green Series

2021A

.850

07/01/35

2,547,099

2,345,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Series 2019D

.450

07/01/34

2,074,243

3,120,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Series 2020A

.500

01/01/35

2,721,055

3,000,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Social Series 2021B

.000

07/01/36

2,420,090

1,955,000

Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Social Series 2021D

.000

07/01/36

1,571,291

TOTAL IOWA

17,095,587

KANSAS - 0.7%

8,515,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2024A

.000

09/01/27

8,942,437

4,315,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/28

4,633,758

1,820,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/29

1,997,875

10,360,000

Kansas Development Finance Authority, Hospital Revenue

Bonds, Advent Health Obligated Group, Series 2021B,

(Mandatory Put 11/15/31)

.000

11/15/54

11,580,336

2,000,000

Kansas Development Finance Authority, Hospital Revenue

Bonds, Advent Health Obligated Group, Series 2021B,

(Mandatory Put 11/15/28)

.000

11/15/54

2,133,398

4,175,000

Manhattan, Kansas, General Obligation Bonds, Temporary

Notes, Series 2024-02 - BAM Insured

.000

06/15/28

4,230,133

TOTAL KANSAS

33,517,937

KENTUCKY - 3.7%

8,250,000

Boone County, Kentucky, Collateralized Pollution Control

Revenue Bonds, Duke Energy Kentucky, Refunding Series

2008A

.700

08/01/27

8,329,179

6,050,000

Carroll County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project, Series 2004A,

(AMT), (Mandatory Put 9/01/26)

.750

10/01/34

5,918,393

30,000,000

Carroll County, Kentucky, Pollution Control Revenue Bonds,

Kentucky Utilities Company Project, Refunding Series 2016A,

(Mandatory Put 9/01/26)

.550

09/01/42

29,378,142

4,470,000

Kentucky Asset/Liability Commission, General Fund Revenue

Project Notes, Federal Highway Trust Fund, First Refunding

Series 2024A

.000

09/01/26

4,564,316

6,270,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 130, Series 2024B

.000

11/01/25

6,281,215

4,545,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 132, Refunding Series 2025B

.000

04/01/30

5,029,104

2,250,000

Kentucky Turnpike Authority, Economic Development Road

Revenue Bonds, Revitalization Projects, Refunding Series

2024A

.000

07/01/27

2,344,743

8,585,000

Louisville and Jefferson County Metropolitan Government

Board of Water Works, Kentucky, Water System Revenue

Bonds, Series 2025

.000

11/15/30

9,681,252

14,960,000

Louisville and Jefferson County Metropolitan Sewer District,

Kentucky, Sewer and Drainage System Revenue Bonds,

Refunding Series 2025A

.000

05/15/31

16,853,472

4,200,000

Louisville/Jefferson County Metro Government, Kentucky,

Health System Revenue Bonds, Norton Healthcare, Inc., Series

2023B, (Mandatory Put 10/01/29)

.000

10/01/47

4,508,006

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

KENTUCKY

(continued)

$

4,000,000

Louisville-Jefferson County Metropolitan Government,

Kentucky, Pollution Control Revenue Bonds, Louisville Gas and

Electric Company Project, Series 2001A

.900

%

09/01/26

$

3,903,270

8,000,000

Louisville-Jefferson County Metropolitan Government,

Kentucky, Pollution Control Revenue Bonds, Louisville Gas and

Electric Company Project, Series 2001B, (AMT)

.350

11/01/27

7,661,721

18,100,000

Louisville-Jefferson County Metropolitan Government,

Kentucky, Pollution Control Revenue Bonds, Louisville Gas

and Electric Company Project, Series 2005A, (Mandatory Put

7/01/26)

.750

02/01/35

17,851,759

3,805,000

Oldham County School District Finance Corporation, Kentucky,

School Building Revenue Bonds, Refunding Second Series

2016

.000

09/01/27

3,888,378

1,350,000

Owen County, Kentucky, Water Facilities Revenue Bonds,

Kentucky-American Water Company Project, Refunding Series

2020, (Mandatory Put 9/01/28)

.875

06/01/40

1,384,123

1,800,000

Owen County, Kentucky, Waterworks System Revenue Bonds,

Kentucky-American Water Company Project, Refunding Series

2019A, (Mandatory Put 10/01/29)

.450

06/01/39

1,750,849

5,605,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2024B, (Mandatory Put 8/01/32)

.000

01/01/55

6,076,300

1,745,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2020A, (Mandatory Put 6/01/26)

.000

12/01/50

1,758,227

2,950,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2022A-1, (Mandatory Put 8/01/30)

.000

08/01/52

3,018,633

3,250,000

Rural Water Financing Agency, Kentucky, Construction Notes,

USDA Public Projects Series 2023A

.900

11/01/25

3,251,750

3,075,000

Trimble County, Kentucky, Pollution Control Revenue Bonds,

Louisville Gas and Electric Company Project, Series 2001A

.625

09/01/26

2,993,211

10,200,000

Trimble County, Kentucky, Pollution Control Revenue Bonds,

Louisville Gas and Electric Company Project, Series 2001B,

(AMT)

.350

11/01/27

9,798,391

21,345,000

Trimble County, Kentucky, Pollution Control Revenue Bonds,

Louisville Gas and Electric Company Project, Series 2016A,

(AMT), (Mandatory Put 9/01/27)

.300

09/01/44

19,952,770

TOTAL KENTUCKY

176,177,204

LOUISIANA - 2.2%

845,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Home Ownership Program, Series 2021D

.100

12/01/36

682,555

1,875,000

Louisiana Housing Corporation, Single Family Mortgage

Revenue Bonds, Home Ownership Program, Series 2024A

.000

12/01/39

1,854,186

3,005,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Womans Hospital Foundation Project, Refunding Series

2017A

.000

10/01/25

3,005,000

17,820,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Westlake

Chemical Corporation Projects, Refunding Series 2017

.500

11/01/32

17,418,357

4,000,000

Louisiana Public Facilities Authority, Hospital Revenue Bonds,

Louisiana Children's Medical Center Hospital, Series 2015A-3.

Term Rate Mode, (Mandatory Put 6/01/28)

.000

06/01/45

4,197,939

6,340,000

Louisiana State, Gasoline and Fuels Tax Revenue Bonds,

Refunding Series 2025B

.000

05/01/30

7,029,331

12,000,000

Louisiana State, General Obligation Bonds, Refunding Series

2024E

.000

09/01/31

13,653,370

5,045,000

Louisiana State, General Obligation Bonds, Series 2024B

.000

08/01/27

5,281,074

925,000

New Orleans, Louisiana, Sewerage Service Revenue Bonds,

Series 2015

.000

06/01/26

926,534

2,780,000

(d) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2008, (Mandatory Put 6/01/30)

.100

06/01/38

3,007,761

1,255,000

(b) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2011, (Mandatory Put 6/01/30)

.000

08/01/41

1,258,876

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA

(continued)

$

16,405,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017A-1,

(Mandatory Put 7/01/26)

.050

%

06/01/37

$

16,549,206

17,200,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017A-3,

(Mandatory Put 7/01/26)

.200

06/01/37

17,117,012

10,010,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017B-2,

(Mandatory Put 7/01/26)

.375

06/01/37

9,974,595

TOTAL LOUISIANA

101,955,796

MAINE - 0.2%

2,955,000

Maine State Housing Authority, Multifamily Mortgage Purchase

Bonds, Series 2021A

.850

11/15/36

2,245,843

1,165,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Series 2020D

.300

11/15/35

966,746

3,000,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Series 2021B

.050

11/15/36

2,387,852

2,030,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2021C

.900

11/15/36

1,614,481

2,000,000

Maine State Housing Authority, Single Family Mortgage

Purchase Bonds, Social Series 2021D

.200

11/15/36

1,601,033

TOTAL MAINE

8,815,955

MARYLAND - 1.9%

7,205,000

Anne Arundel County, Maryland, General Obligation Bonds,

Consolidated General Improvement, Series 2019

.000

10/01/25

7,205,000

8,130,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement Series 2020

.000

03/01/27

8,432,277

6,000,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Refunding Series 2024A

.000

07/01/29

6,574,063

6,760,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Refunding Series 2024A

.000

07/01/30

7,563,928

11,510,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Series 2024

.000

02/01/27

11,911,745

10,000

Baltimore County, Maryland, Revenue Bonds, Oak Crest

Village, Series 2016

.250

01/01/31

9,950

1,000,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/26

1,009,664

6,820,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2019C

.700

09/01/34

6,207,601

4,250,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2020A

.300

09/01/35

3,548,512

4,880,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2020D

.950

09/01/35

3,995,479

12,000,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021A

.800

09/01/36

9,349,388

8,310,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021B

.875

09/01/36

6,547,055

12,000,000

Maryland Community Development Administration

Department of Housing and Community Development,

Residential Revenue Bonds, Series 2021C

.200

09/01/36

9,668,740

4,630,000

Montgomery County, Maryland, General Obligation Bonds,

Consolidated Public Improvement Series 2018A

.000

11/01/29

4,999,338

3,570,000

Prince George's County, Maryland, General Obligation Bonds,

Consolidated Public Improvement Series 2025A

.000

08/01/30

3,999,556

TOTAL MARYLAND

91,022,296

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MASSACHUSETTS - 1.6%

$

2,945,000

Boston, Massachusetts, General Obligation Bonds, Series

2025A

.000

%

02/01/29

$

3,221,802

3,000,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/31

3,423,054

2,780,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/29

2,948,043

2,750,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/30

2,916,118

2,515,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/31

2,661,757

2,110,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/32

2,224,561

160,000

(a) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (ETM)

.000

07/15/26

162,964

170,000

(a) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (ETM)

.000

07/15/27

177,436

175,000

(a) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (ETM)

.000

07/15/28

186,892

220,000

(a) Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (ETM)

.000

07/15/30

244,783

2,135,000

Massachusetts Health and Educational Facilities Authority,

Variable Rate Demand Revenue Bonds, University of

Massachusetts Issue, Series 2000A, (Mandatory Put 4/01/26)

.450

11/01/30

2,126,978

1,975,000

Massachusetts Housing Finance Agency, Housing Bonds,

Series 2019B-1

.750

12/01/34

1,763,868

1,000,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2022A-2

.650

06/01/26

997,213

2,635,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2022C-3

.000

06/01/26

2,636,999

2,420,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2023A-3

.050

12/01/27

2,430,633

3,130,000

Massachusetts Housing Finance Agency, Multifamily Housing

Bonds, Green Series 2023C2

.000

12/01/27

3,154,598

1,000,000

Massachusetts Housing Finance Agency, Multifamily Housing

Bonds, Green Sustainability Series 2024B3

.500

06/01/29

1,010,908

5,000,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2020-220

.950

12/01/35

4,061,022

1,000,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2021-221

.000

12/01/36

795,961

2,725,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2021-222

.000

12/01/36

2,168,993

7,385,000

Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2021-223

.150

12/01/36

6,008,850

15,000,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/30

16,648,083

3,680,000

Massachusetts State, General Obligation Bonds, Consolidated

Series 2024B

.000

05/01/26

3,734,882

4,525,000

Massachusetts State, General Obligation Bonds, Consolidated

Series 2024B

.000

05/01/27

4,716,022

6,750,000

Quincy, Massachusetts, General Obligation Bonds, Bonds

Anticipation Notes Series 2025

.000

07/24/26

6,881,304

TOTAL MASSACHUSETTS

77,303,724

MICHIGAN - 3.3%

2,400,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Refunding Second Lien Series 2025B

.000

07/01/35

2,736,454

5,000,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Refunding Senior Lien Series 2025A

.000

07/01/31

5,667,694

10,015,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Senior Lien Series 2024A

.000

07/01/26

10,198,944

7,510,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Senior Lien Series 2024A

.000

07/01/27

7,844,654

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MICHIGAN

(continued)

$

4,050,000

Michigan Finance Authority, Hospital Revenue Bonds,

Beaumont-Spectrum Consolidation, Fixed Refunding Series

2022A

.000

%

04/15/26

$

4,098,474

2,600,000

Michigan Finance Authority, Hospital Revenue Bonds,

Beaumont-Spectrum Consolidation, Fixed Refunding Series

2022A

.000

04/15/27

2,693,772

5,290,000

Michigan Finance Authority, Hospital Revenue Bonds,

Bronson Healthcare Group, Inc., Series 2019B, (Mandatory Put

11/16/26)

.000

11/15/44

5,332,004

4,780,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/29

5,185,361

2,000,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/27

2,062,825

5,115,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2007 Sold Tobacco Receipts, Senior Current Interest

Series 2020A-CL-1

.000

06/01/28

5,364,365

7,115,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2018A

.550

10/01/33

7,118,582

2,180,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2022A

.300

04/01/26

2,180,375

9,430,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2023A

.750

04/01/27

9,431,387

1,350,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2024A

.700

04/01/30

1,352,697

1,820,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Fixed Rate Series 2018C

.350

12/01/34

1,808,815

4,640,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2016A

.100

12/01/31

4,622,200

10,020,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2019B

.700

12/01/34

9,069,154

14,835,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2020C

.350

12/01/35

12,476,158

6,000,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2021A

.950

12/01/36

4,800,808

2,000,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2022A

.000

12/01/37

2,001,591

5,655,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2024II

.000

10/15/27

5,947,093

3,890,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2025I

.000

04/15/29

4,231,363

2,000,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2025I

.000

04/15/30

2,221,013

3,040,000

Michigan State, Trunk Line Fund Bonds, Rebuilding Michigan

Program, Series 2023

.000

11/15/26

3,128,825

12,165,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Consumers Energy Company Project, Series 2019, (AMT),

(Mandatory Put 10/01/27)

.350

10/01/49

12,102,499

7,730,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Consumers Energy Company Project, Variable Rate Series

2005, (AMT), (Mandatory Put 10/08/26)

.875

04/01/35

7,487,698

7,230,000

Michigan Strategic Fund, Limited Obligation Revenue

Bonds, Detroit Edison Company Exempt Facilities Project,

Collateralized Series 2023DT, (AMT), (Mandatory Put 6/03/30)

.875

06/01/53

7,089,055

2,285,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Graphic Packaging International, LLC Coated Recycled Board

Machine Project, Green Series 2021, (AMT), (Mandatory Put

10/01/26)

.000

10/01/61

2,284,041

7,500,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2023E -

AGM Insured, (AMT)

.000

12/01/28

7,981,118

TOTAL MICHIGAN

158,519,019

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA - 1.1%

$

2,740,000

Eastern Carver County Independent School District 112,

Minnesota, General Obligation Bonds, Facilities Maintenance

Series 2025A

.000

%

02/01/29

$

2,969,879

5,030,000

Minneapolis, Minnesota, Health Care System Revenue Bonds,

Allina Health System, Series 2023A, (Mandatory Put 11/15/28)

.000

11/15/52

5,314,647

1,265,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020B

.400

01/01/35

1,094,905

2,275,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020E

.250

07/01/35

1,890,437

4,330,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2020I

.875

07/01/35

3,528,973

5,595,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2021D

.000

07/01/36

4,516,648

5,045,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2021F

.000

07/01/36

4,069,785

8,415,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Series 2021H

.150

07/01/36

6,934,086

3,285,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Social Series 2022A

.600

07/01/37

2,822,082

6,820,000

Minnesota Public Facilities Authority, State Clean Water

Revolving Fund Revenue Bonds, Series 2016A

.000

03/01/31

6,880,136

2,000,000

Minnesota Rural Water Finance Authority, Public Projects

Construction Notes, Series 2025

.300

08/01/26

2,002,673

4,315,000

(b) Minnesota State, General Obligation Bonds, State Trunk

Highway Series 2021B

.000

08/01/31

4,912,565

6,000,000

(b) Minnesota State, General Obligation Bonds, Various Purpose

Bid Groups 1 & 2 Series 2025A

.000

08/01/30

6,734,120

TOTAL MINNESOTA

53,670,936

MISSISSIPPI - 0.6%

7,755,000

Lowndes County, Mississippi, Solid Waste Disposal and

Pollution Control Revenue Bonds, International Paper

Company Project, Refunding Series 2022, (Mandatory Put

4/01/27)

.650

04/01/37

7,728,045

5,865,000

Mississippi Business Finance Corporation, Pollution Control

Revenue, Mississippi Power, Series 2002

.200

09/01/28

5,866,521

3,500,000

Mississippi Development Bank, Special Obligation Bonds,

Mississippi Highway Refunding Project, Refunding Series

2024A

.000

01/01/30

3,839,027

6,000,000

Mississippi Development Bank, Special Obligation Bonds,

Mississippi Highway Refunding Project, Refunding Series

2024A

.000

01/01/31

6,694,657

1,230,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2020A

.250

12/01/35

1,009,155

615,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2021A

.800

12/01/35

489,233

1,500,000

Mississippi State, Gaming Tax Revenue Bonds, Series 2019A

.000

10/15/26

1,535,830

2,365,000

Warren County, Mississippi, Gulf Opportunity Zone Revenue

Bonds, International Paper Company Project, Refunding Series

20218

.000

09/01/32

2,430,629

TOTAL MISSISSIPPI

29,593,097

MISSOURI - 0.9%

5,330,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Refunding Series 1998A

.900

09/01/33

4,938,092

11,000,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998B

.900

09/01/33

10,191,183

5,255,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998C

.750

09/01/33

4,861,913

12,465,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Series 2021B,

(Mandatory Put 5/01/26)

.000

05/01/51

12,556,022

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MISSOURI

(continued)

$

2,520,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, SSM Health Care, Series 2022A

.000

%

06/01/27

$

2,607,438

2,700,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024E

.125

11/01/39

2,671,720

730,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2019C

.500

11/01/34

644,252

1,065,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2021A

.950

11/01/36

854,442

1,890,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2021B

.800

11/01/36

1,464,030

TOTAL MISSOURI

40,789,092

MONTANA - 0.2%

1,115,000

Gallatin County, Montana, General Obligation Bonds, Series

2023

.000

07/01/33

1,290,549

1,300,000

Gallatin County, Montana, General Obligation Bonds, Series

2023

.000

07/01/35

1,469,074

1,000,000

Lewis and Clark County School District 9 East Helena, Montana,

General Obligation Bonds, School Building Series 2018

.000

07/01/27

1,041,933

1,055,000

Lewis and Clark County School District 9 East Helena, Montana,

General Obligation Bonds, School Building Series 2018

.000

07/01/28

1,122,825

1,335,000

Lewis and Clark County School District 9 East Helena, Montana,

General Obligation Bonds, School Building Series 2018

.000

07/01/29

1,414,968

2,000,000

Montana Board of Housing, Multifamily Housing Revenue

Bonds, Aurora Apartments Series 2024, (Mandatory Put

2/01/28)

.320

07/01/46

2,014,583

750,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2021A-1

.850

12/01/36

583,698

500,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2021B

.850

12/01/36

389,132

TOTAL MONTANA

9,326,762

NATIONAL - 0.1%

2,601,433

Freddie Mac Multi-Family ML Certificates, Series ML 05, Series

2019A

.400

01/25/36

2,469,995

TOTAL NATIONAL

2,469,995

NEBRASKA - 0.6%

8,345,000

Central Plains Energy Project, Nebraska, Gas Project 4 Revenue

Bonds, Refunding Series 2023A-1, (Mandatory Put 11/01/29)

.000

05/01/54

8,943,900

5,040,000

Central Plains Energy Project, Nebraska, Gas Supply

Revenue Bonds, Refunding Series 2025A Subseries 2025A-1,

(Mandatory Put 8/01/31)

.000

08/01/55

5,451,576

1,915,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2019D

.600

09/01/34

1,723,579

8,895,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2020A

.350

09/01/35

7,432,579

2,490,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2021A

.850

09/01/35

1,999,662

3,555,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2021C

.100

09/01/36

2,865,563

1,630,000

Sarpy County School District 037 Gretna Public Schools,

Nebraska, General Obligation Bonds, Series 2022B

.000

12/15/27

1,636,219

TOTAL NEBRASKA

30,053,078

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEVADA - 0.4%

$

6,385,000

Clark County, Nevada, Airport Revenue Bonds, Junior

Subordinate Lien Notes Series 2021B, (AMT)

.000

%

07/01/27

$

6,624,897

3,500,000

Clark County, Nevada, Pollution Control Revenue Bonds,

Nevada Power Company Project, Refunding Series 2017,

(Mandatory Put 3/31/26)

.750

01/01/36

3,508,839

1,000,000

(c),(d)

Director of the State of Nevada Department of Business and

Industry, Solid Waste Disposal Revenue Bonds, Republic

Services Inc., Variable Rate Demand Series 2001, (AMT),

(Mandatory Put 12/01/25)

.950

12/01/26

999,870

1,970,000

Nevada Housing Division, Single Family Housing Mortgage

Revenue Bonds, Refunding Series 2021A

.850

10/01/33

1,653,333

1,970,000

Nevada Housing Division, Single Family Housing Mortgage

Revenue Bonds, Refunding Series 2021A

.000

10/01/36

1,576,549

3,000,000

Nevada Housing Division, Single Family Housing Mortgage

Revenue Bonds, Refunding Series 2021B

.200

10/01/36

2,410,944

TOTAL NEVADA

16,774,432

NEW HAMPSHIRE - 0.9%

8,485,000

National Finance Authority, New Hampshire, Pollution Control

Revenue Bonds, New York State Electric & Gas Corporation

Project, Refunding Series 2022A, (AMT)

.000

12/01/28

8,627,281

3,605,000

National Finance Authority, New Hampshire, Solid Waste

Disposal Revenue Bonds, Waste Management, INC., Project,

Refunding Series 2018A, (AMT), (Mandatory Put 7/01/26)

.000

10/01/33

3,607,368

11,000,000

New Hampshire Business Finance Authority, Pollution Control

Revenue Bonds, United Illuminating Company, Refunding

Series 2003A

.500

10/01/33

11,516,325

5,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth College, Series 2015A, (Mandatory

Put 8/03/27)

.300

06/01/40

5,029,937

4,500,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth College, Series 2015D, (Mandatory

Put 8/03/27)

.300

06/01/38

4,526,943

8,000,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth College, Series 2025A

.000

06/01/32

9,129,297

2,505,000

New Hampshire Housing Finance Authority, Single Family

Mortgage Acquisition Bonds, Social Series 2024C

.100

07/01/39

2,487,136

TOTAL NEW HAMPSHIRE

44,924,287

NEW JERSEY - 2.1%

1,000,000

Delran Township, New Jersey, General Obligation Bonds,

Series 2019

.000

10/15/27

977,395

1,000,000

Delran Township, New Jersey, General Obligation Bonds,

Series 2019

.000

10/15/28

961,181

1,000,000

Delran Township, New Jersey, General Obligation Bonds,

Series 2019

.000

10/15/29

948,256

1,000,000

Freehold Township Board of Education, Monmouth County,

New Jersey, General Obligation Bonds, School Series 2025

.000

08/15/29

1,062,184

3,640,000

Gloucester Township, New Jersey, General Obligation Bonds,

Series 2019 - BAM Insured

.000

02/01/26

3,623,341

3,975,000

Gloucester Township, New Jersey, General Obligation Bonds,

Series 2019 - BAM Insured

.000

02/01/27

3,911,497

6,180,000

New Jersey Economic Development Authority, Revenue Bonds,

Motor Vehicle Surcharge, Refunding Subordinate Series 2017A

.375

07/01/30

6,134,166

6,135,000

(a) New Jersey Economic Development Authority, School Facilities

Construction Bonds, Series 2018EEE, (Pre-refunded 12/15/28)

.000

06/15/33

6,630,975

920,000

New Jersey Economic Development Authority, Special

Facilities Revenue Bonds, Continental Airlines Inc., Series 1999,

(AMT)

.250

09/15/29

921,267

9,180,000

New Jersey Economic Development Authority, Water Facilities

Revenue Bonds, New Jersey-American Water Company Inc.

Project, Refunding Series 2020E, (AMT)

.850

12/01/25

9,121,154

3,165,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Princeton University, Series 2025A, (Mandatory Put 7/01/35)

.000

07/01/64

3,642,957

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW JERSEY

(continued)

$

2,600,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Inspira Health Obligated Group Issue, Refunding Series

2016A

.000

%

07/01/29

$

2,639,465

3,200,000

New Jersey Housing and Mortgage Finance Agency,

Multifamily Revenue Bonds, Series 2024B

.500

05/01/29

3,251,871

7,230,000

New Jersey Transportation Trust Fund Authority, Federal

Highway Reimbursement Revenue Notes, Series 2018A

.000

06/15/28

7,348,372

1,645,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2014BB-1

.000

06/15/30

1,764,921

1,345,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019A

.000

12/15/26

1,383,726

2,000,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019BB

.000

06/15/32

2,128,827

5,125,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/27

5,305,459

5,490,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/28

5,795,166

14,205,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/29

14,972,124

3,580,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/34

3,697,890

2,385,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/37

2,319,785

6,795,000

Toms River Board of Education, Ocean County, New Jersey,

General Obligation Bonds, Regional Schools Series 2019

.250

07/15/28

6,455,915

6,710,000

Union County, New Jersey, General Obligation Bonds, Series

2018

.000

03/01/28

6,712,855

TOTAL NEW JERSEY

101,710,749

NEW MEXICO - 0.8%

13,630,000

Farmington, New Mexico, Pollution Control Revenue Bonds,

Public Service Company of New Mexico San Juan Project,

Refunding Series 2010A, (Mandatory Put 10/01/26)

.875

06/01/40

13,267,525

15,000,000

New Mexico Finance Authority, New Mexico, Transportation

Revenue Bonds, State Transportation Commission, Refunding

Senior Lien Series 2024A

.000

06/15/27

15,653,301

1,695,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2019D

.800

07/01/34

1,565,052

2,140,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021A

.950

07/01/36

1,735,276

985,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2021C

.875

07/01/36

780,380

1,180,000

New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2024E

.125

09/01/39

1,170,001

1,760,000

San Juan County, New Mexico, Gross Receipts Tax Revenue

Bonds, Refunding Series 2015A

.000

06/15/26

1,762,860

203,000

(d) Winrock Town Center Tax Increment Development District

1, Albuquerque, New Mexico, Gross Receipts Tax Increment

Bonds, Senior Lien Series 2022

.750

05/01/28

202,990

TOTAL NEW MEXICO

36,137,385

NEW YORK - 8.1%

10,000,000

Chautauqua County Capital Resource Corporation, New York,

Facilities Revenue Bonds, NRG Energy Project Refunding Series

2020, (Mandatory Put 4/03/28)

.250

04/01/42

10,132,544

1,725,000

Dormitory Authority of the State of New York, Revenue Bonds,

Montefiore Obligated Group, Series 2020A

.000

09/01/27

1,776,506

5,000,000

Dormitory Authority of the State of New York, Revenue Bonds,

Northwell Healthcare Inc, Series 2019B-1, (Mandatory Put

11/01/28)

.800

05/01/48

4,802,453

1,400,000

Dormitory Authority of the State of New York, Revenue Bonds,

School Districts Financing Program, Series 2025A

.000

10/01/28

1,508,815

8,600,000

Dutchess County Local Development Corporation, New York,

Revenue Bonds, Health Quest Systems, Inc. Project, Series

2016B

.000

07/01/30

8,714,724

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

2,500,000

Long Island Power Authority, New York, Electric System General

Revenue Bonds, Series 2024B, (Mandatory Put 9/01/29)

.000

%

09/01/49

$

2,526,127

5,020,000

Metropolitan Transportation Authority, New York, Dedicated

Tax Fund Bonds, Climate Bond Certified, Refunding Green

Series 2016B-2

.000

11/15/32

5,143,771

3,500,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Refunding Series 2025B

.000

11/15/28

3,741,029

11,180,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Refunding Series 2025B

.000

11/15/29

12,174,046

2,250,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Refunding Green Climate

Certified Series 2020E

.000

11/15/32

2,467,613

10,850,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Series 2015C-1

.250

11/15/29

10,884,342

1,065,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014B

.000

07/01/26

1,066,284

1,500,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014B

.000

07/01/27

1,501,703

10,020,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Green Series 2023A-2,

(Mandatory Put 12/30/27)

.700

05/01/63

10,031,861

10,250,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Green Bond 2021K-2, (Mandatory Put 1/01/26)

.900

11/01/60

10,182,891

3,065,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024B-2, (Mandatory Put 7/03/28)

.700

05/01/64

3,116,731

5,835,000

New York City Housing Development Corporation, New

York, Multifamily Housing Revenue Bonds, Sustainable

Neighborhood Green Series 2020D-1B

.000

11/01/35

4,806,758

3,170,000

New York City Housing Development Corporation, New

York, Multifamily Housing Revenue Bonds, Sustainable

Neighborhood Series 2019A-3A

.450

11/01/34

3,170,071

3,010,000

New York City Housing Development Corporation, New

York, Multifamily Housing Revenue Bonds, Sustainable

Neighborhood Series 2019G-1B

.550

11/01/34

2,711,997

825,000

New York City Industrial Development Agency, New York, Civic

Facility Revenue Bonds, The Churchill School and Center for

Learning Disabilities Inc., Short Term Auction Rate Series 1999

- AGM Insured

.250

10/01/29

790,458

6,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2016 Series E-1

.000

02/01/34

6,036,562

8,845,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2021 Subseries A

.000

11/01/28

9,523,153

8,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2025 Subseries Series

.000

11/01/27

8,431,921

810,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2024G-1

.000

05/01/27

842,521

4,665,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025C-1

.000

05/01/29

5,077,515

1,500,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025D

.000

05/01/28

1,597,034

2,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025D

.000

05/01/29

2,176,855

1,500,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025D

.000

05/01/30

1,666,528

5,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025F-1

.000

11/01/28

5,383,354

6,600,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025F-1

.000

11/01/29

7,259,677

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

4,375,000

New York City, New York, General Obligation Bonds, Fiscal

2017 Series A-1

.000

%

08/01/33

$

4,440,260

27,510,000

New York City, New York, General Obligation Bonds, Fiscal

2020 Series C-1

.000

08/01/27

28,817,537

3,125,000

New York City, New York, General Obligation Bonds, Fiscal

2023 Series 1

.000

08/01/26

3,190,248

7,710,000

New York City, New York, General Obligation Bonds, Fiscal

2025 Series A

.000

08/01/27

8,076,452

12,500,000

New York City, New York, General Obligation Bonds, Fiscal

2025 Series A

.000

08/01/28

13,373,024

5,500,000

New York State Energy Research and Development Authority,

Pollution Control Revenue Bonds, Rochester Gas and Electric

Corporation, Series 2004B, (AMT)

.000

05/15/32

5,622,478

2,080,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Sustainability Green

Series 2021J-2, (Mandatory Put 11/01/26)

.000

11/01/61

2,025,595

4,850,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Sustainability Green

Series 2021J-2, (Mandatory Put 5/01/27)

.100

11/01/61

4,679,236

9,545,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Green Series 2022A-2, (Mandatory Put

5/01/27)

.500

11/01/60

9,476,641

7,415,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Refunding Series 2019C

.500

11/01/34

7,426,530

4,185,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Refunding Series 2020H

.100

11/01/35

3,465,555

8,115,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Sustainability Green Series 2024C-2,

(Mandatory Put 5/01/29)

.600

11/01/63

8,184,582

6,675,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Sustainability Series 2023C-2, (Mandatory Put

5/01/29)

.800

11/01/62

6,678,136

1,835,000

New York State Housing Finance Agency, State Personal

Income Tax Revenue Bonds, Economic Development and

Housing Sustainability Green Series 2024B-2, (Mandatory Put

12/15/29)

.350

12/15/54

1,847,910

9,775,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 223

.650

10/01/34

8,832,064

2,415,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 225

.000

10/01/35

2,001,600

3,460,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 227

.100

10/01/35

2,872,462

3,555,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 231

.000

10/01/33

3,018,722

9,990,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Series 231

.200

10/01/36

8,028,443

4,640,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Social Series 239

.200

10/01/36

3,728,926

16,400,000

New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Social Series 242

.950

10/01/37

14,519,125

10,000,000

New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Series 2025A

.000

03/15/29

10,889,179

1,785,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, American Airlines, Inc. John F

Kennedy International Airport Project, Refunding Series 2016,

(AMT)

.000

08/01/26

1,785,375

5,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

12/01/27

5,212,396

2,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

12/01/28

2,122,063

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

2,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

%

12/01/29

$

2,153,368

3,015,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2020, (AMT)

.000

10/01/30

3,058,697

1,000,000

Oyster Bay, Nassau County, New York, General Obligation

Bonds, Refunding Public Improvement Series 2022 - AGM

Insured

.000

08/01/27

1,050,664

3,105,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Forty Second Series 2023,

(AMT)

.000

12/01/26

3,179,502

10,000,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Forty Second Series 2023,

(AMT)

.000

12/01/27

10,448,372

4,000,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Second Series 2017, (AMT)

.000

10/15/33

4,103,625

500,000

Suffolk County Economic Development Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014

.000

07/01/27

500,865

2,220,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Senior Series

2021A-2

.000

06/01/26

2,249,294

2,200,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Senior Series

2021A-2

.000

06/01/28

2,313,022

1,245,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Senior Series

2021A-2

.000

06/01/32

1,343,500

10,000,000

Triborough Bridge and Tunnel Authority, New York, General

Revenue Bonds, MTA Bridges & Tunnels, Refunding Series

2023A

.000

11/15/26

10,293,315

3,000,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Bond

Anticipation Notes Series 2025A

.000

03/01/28

3,178,333

8,100,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Senior Lien

Green Climate Bond Certified Series 2022E-1

.000

11/15/27

8,496,702

10,000,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, Senior Lien Refunding Series 2022B

.000

05/15/26

10,162,675

1,925,000

TSASC Inc., New York, Tobacco Settlement Asset-Backed

Bonds, Fiscal 2017 Series A

.000

06/01/26

1,949,123

TOTAL NEW YORK

384,041,440

NORTH CAROLINA - 0.9%

6,705,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, DBA Carolinas HealthCare

System, Variable Rate Demand Series 2021B, (Mandatory Put

6/15/27)

.250

01/15/50

6,749,492

3,920,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, Doing Business as Atrium Health,

Variable Rate Series 2018C, (Mandatory Put 10/31/25)

.450

01/15/48

3,921,407

5,490,000

Charlotte-Mecklenburg Hospital Authority, North Carolina,

Health Care Revenue Bonds, Doing Business as Atrium Health,

Variable Rate Series 2018E, (Mandatory Put 10/31/25)

.800

01/15/48

5,479,098

4,110,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Series 55C, (Mandatory

Put 1/15/26)

.200

07/01/56

4,110,228

870,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2019-42

.450

07/01/34

769,549

2,785,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2020-43

.625

01/01/35

2,523,763

5,000,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement, Series 2021-47

.000

07/01/36

4,033,484

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NORTH CAROLINA

(continued)

$

1,645,000

North Carolina Municipal Power Agency 1, Catawba Electric

Revenue Bonds, Refunding Series 2015A

.000

%

01/01/28

$

1,654,716

10,730,000

Raleigh, North Carolina, North Carolina, Limited Obligation

Bonds, Series 2024

.000

10/01/27

11,295,591

TOTAL NORTH CAROLINA

40,537,328

NORTH DAKOTA - 0.8%

2,345,000

Cass County Joint Water Reserve District, North Dakota,

Temporary Improvement Special Assessment Bonds,

Refunding Series 2024A

.450

04/01/27

2,346,602

1,655,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2017A

.000

12/01/25

1,657,120

2,380,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2017A

.000

12/01/26

2,423,356

2,555,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2021

.000

12/01/27

2,640,148

225,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/27

225,616

500,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/28

485,342

400,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/29

383,692

430,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/30

407,979

355,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2021

.000

05/01/32

325,295

5,330,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2023C

.000

05/01/32

5,575,250

670,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/29

707,854

530,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/30

567,112

555,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/31

599,201

580,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/32

629,001

610,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/33

663,016

6,235,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2019C

.800

07/01/32

5,947,447

2,285,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2019C

.000

07/01/34

2,143,638

2,500,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2020A

.700

07/01/35

2,221,501

3,250,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2020B

.100

07/01/35

2,675,879

3,600,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Series 2021A

.050

07/01/36

2,924,891

2,540,000

North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Social Series 2021B

.300

07/01/36

2,071,038

TOTAL NORTH DAKOTA

37,620,978

OHIO - 4.0%

1,500,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/27

1,553,066

9,130,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/28

9,637,497

12,185,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/29

13,079,517

10,480,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/31

11,333,786

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

4,400,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

%

06/01/32

$

4,726,784

3,110,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/33

3,317,382

7,895,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/34

8,344,676

4,470,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/35

4,691,327

1,520,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/37

1,489,369

2,275,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/38

2,197,973

1,015,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020A-2 Class 1

.000

06/01/39

967,554

1,000,000

Chillicothe, Ohio, Hospital Facilities Revenue Bonds, Adena

Health System Obligated Group Project, Refunding &

Improvement Series 2017

.000

12/01/25

1,003,003

2,745,000

Hilliard City School District, Franklin County, Ohio, General

Obligation Bonds, School Facilities Series 2025B

.000

12/01/29

3,027,882

6,000,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2005B, (AMT)

.700

07/01/28

6,009,078

3,345,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2005C, (AMT)

.700

04/01/28

3,350,048

15,750,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2007A, (AMT), (Mandatory Put 10/01/29)

.500

08/01/40

15,074,506

10,000,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2007B, (AMT), (Mandatory Put 10/01/29)

.500

11/01/42

9,571,115

2,380,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2014A, (Mandatory Put 10/01/29)

.400

12/01/38

2,269,144

11,905,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2014B, (AMT), (Mandatory Put 10/01/29)

.600

06/01/41

11,438,336

20,250,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Dayton Power & Light Company Project, Refunding

Collateralized Series 2015A, (AMT), (Mandatory Put 6/01/27)

.250

11/01/40

20,710,566

12,635,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Dueke Energy Corporation Project, Refunding Series

2022A, (AMT), (Mandatory Put 6/01/27)

.250

11/01/39

12,899,576

360,000

(d) Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Pratt Paper Ohio, LLC Project, Series 2017, (AMT)

.750

01/15/28

362,279

1,330,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2019A

.500

09/01/34

1,330,843

2,510,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2019B

.800

09/01/34

2,310,096

1,470,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2020A

.500

09/01/35

1,259,035

3,685,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2021A

.050

09/01/36

2,978,356

2,920,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Series 2021C

.250

09/01/36

2,369,448

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

1,610,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A

.800

%

09/01/35

$

1,618,667

1,640,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A

.850

03/01/36

1,644,002

1,490,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A

.850

09/01/36

1,485,313

6,235,000

Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024B

.100

09/01/39

6,217,932

1,850,000

Ohio State, General Obligation Bonds, Conservation Projects

Refunding Series 2022A

.000

09/01/27

1,909,086

2,505,000

Ohio State, General Obligation Bonds, Infrastructure

Improvement Refunding Series 2022B

.000

03/01/27

2,563,432

3,545,000

Ohio State, General Obligation Bonds, Infrastructure

Improvement Refunding Series 2022C

.000

09/01/27

3,658,222

2,440,000

Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health

System Obligated Group, Series 2019C, (Mandatory Put

5/01/28)

.750

01/01/52

2,429,621

5,050,000

Ohio Water Development Authority, Water Pollution Control

Loan Fund Revenue Bonds, Series 2020A

.000

12/01/39

5,342,726

1,395,000

Olentangy Local School District, Delaware and Franklin

Counties, Ohio, General Obligation Bonds, Refunding Series

2025B

.000

12/01/31

1,597,256

1,000,000

Olentangy Local School District, Delaware and Franklin

Counties, Ohio, General Obligation Bonds, Refunding Series

2025B

.000

12/01/32

1,154,817

TOTAL OHIO

186,923,316

OKLAHOMA - 4.1%

1,000,000

Blaine County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Watonga Public

Schools Project, Series 2022

.000

12/01/31

1,089,933

1,015,000

Blaine County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Watonga Public

Schools Project, Series 2022

.000

12/01/32

1,108,951

1,600,000

Bryan County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Durant Public

Schools Project, Series 2020

.000

09/01/27

1,564,233

5,000,000

Canadian County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Mustang Public

Schools Project, Series 2023A

.000

09/01/31

5,572,340

5,015,000

Canadian County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Yukon Public

Schools Project, Series 2023

.000

09/01/27

5,229,267

4,400,000

Canadian County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Piedmont Public Schools Project, Series

2024

.000

08/15/32

4,607,156

9,095,000

Cleveland County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Moore Public

Schools Project, Series 2021

.000

06/01/27

9,288,988

8,005,000

Cleveland County Independent School District 2 Moore,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2022

.000

03/01/26

7,970,551

8,010,000

Cleveland County Independent School District 2 Moore,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2022

.000

03/01/27

7,874,120

7,525,000

Cleveland County Independent School District 29 Norman,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2022

.000

03/01/26

7,483,186

1,000,000

Clinton Public Works Authority, Oklahoma, Educational

Facilities, Lease Revenue Bonds, Series 2022

.000

10/01/27

1,037,584

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

1,000,000

Clinton Public Works Authority, Oklahoma, Educational

Facilities, Lease Revenue Bonds, Series 2022

.250

%

10/01/28

$

1,002,451

4,410,000

Cushing Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Cushing Public

Schools Project, Series 2022

.000

09/01/32

4,929,521

2,330,000

Garfield County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Enid Public

Schools Project, Series 2016A

.000

09/01/26

2,372,565

200,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/26

203,526

450,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/27

467,258

525,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/29

554,239

560,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/30

590,352

1,100,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/31

1,155,399

860,000

Garvin County Educational Facilities Authority, Oklahoma,

Lease Revenue Bonds, Wynnewood Public Schools Project,

Series 2018

.000

09/01/32

900,223

1,305,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Minco Public

Schools Project, Series 2018

.000

09/01/31

1,371,467

1,000,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Minco Public

Schools Project, Series 2018

.000

09/01/32

1,045,354

1,305,000

Grady County School Finance Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Minco Public

Schools Project, Series 2018

.000

09/01/33

1,358,374

5,045,000

Kay County Public Buildings Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Ponca City Public Schools

Project, Series 2022

.000

09/01/27

5,236,564

1,000,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/28

1,060,730

1,000,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/29

1,080,342

1,455,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Blanchard Public

Schools Project, Series 2019

.000

09/01/26

1,469,711

630,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Blanchard Public

Schools Project, Series 2019

.000

09/01/27

643,805

720,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Blanchard Public

Schools Project, Series 2019

.000

09/01/28

742,731

725,000

McClain County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Blanchard Public

Schools Project, Series 2019

.000

09/01/29

755,086

1,100,000

Okarche Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Okarche Public

Schools Project, Series 2016

.000

09/01/27

1,124,075

1,125,000

Okarche Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Okarche Public

Schools Project, Series 2016

.000

09/01/28

1,146,840

5,200,000

Oklahoma City, Oklahoma, General Obligation Bonds, Series

2024

.000

03/01/27

5,311,787

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

1,030,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Harrah Public Schools Project,

Series 2024

.000

%

09/01/28

$

1,093,217

590,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/26

594,897

1,000,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/27

1,021,725

1,195,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/28

1,231,037

1,000,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/29

1,039,615

1,000,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/30

1,048,037

1,000,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/31

1,043,562

1,000,000

Oklahoma County Finance Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Jones Public Schools Project,

Series 2020

.000

09/01/32

1,037,358

3,650,000

Oklahoma County Independent School District 1 Putnam City,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2024

.250

04/01/26

3,657,133

2,530,000

Oklahoma County Independent School District 12 Edmond,

General Obligation Bonds, Combined Purpose Series 2024

.000

03/01/26

2,543,567

5,850,000

Oklahoma County Independent School District 89 Oklahoma

City, Oklahoma, General Obligation Bonds, Combined

Purpose Series 2024A

.250

07/01/26

5,778,515

6,850,000

Oklahoma County Independent School District 89, Oklahoma

City, Oklahoma, General Obligation Bonds, Combined

Purpose Series 2025A

.000

07/01/27

6,642,742

1,900,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/26

1,917,648

3,175,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/27

3,267,972

1,400,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/28

1,462,191

385,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/29

402,014

365,000

Oklahoma Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Homeownership Loan Program, Series 2020A

.650

09/01/35

330,223

7,500,000

Oklahoma Industries Authority, Educational Facilities Lease

Revenue Bonds, Oklahoma City Public Schools Project Series

2024

.000

04/01/27

7,761,173

2,000,000

Payne County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Stillwater Public

Schools Project, Series 2024 - BAM Insured

.000

09/01/26

2,039,457

260,000

Pittsburg County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, McAlester Public

Schools Project, Series 2021

.000

12/01/28

268,226

400,000

Pittsburg County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, McAlester Public

Schools Project, Series 2021

.000

12/01/29

416,242

350,000

Pittsburg County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, McAlester Public

Schools Project, Series 2021

.000

12/01/30

366,720

255,000

Pittsburg County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, McAlester Public

Schools Project, Series 2021

.000

12/01/31

267,905

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA

(continued)

$

380,000

Pittsburg County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, McAlester Public

Schools Project, Series 2021

.000

%

12/01/32

$

399,456

545,000

Pontotoc County Educational Facilities Authority, Oklahoma,

Facilities Lease Revenue Bonds, Ada Public Schools Project,

Series 2021

.000

09/01/26

549,770

1,290,000

Pontotoc County Educational Facilities Authority, Oklahoma,

Facilities Lease Revenue Bonds, Ada Public Schools Project,

Series 2021

.000

09/01/28

1,326,715

770,000

Rogers County Industrial Development Authority, Oklahoma,

Capital Improvement Revenue Bonds, Refunding Series 2017

.000

04/01/26

770,187

715,000

Rogers County Industrial Development Authority, Oklahoma,

Capital Improvement Revenue Bonds, Refunding Series 2017

.000

04/01/27

715,220

400,000

Sand Springs Municipal Authority, Oklahoma, Utility System

Revenue Bonds, Refunding Series 2020

.000

11/01/31

399,666

500,000

Sand Springs Municipal Authority, Oklahoma, Utility System

Revenue Bonds, Refunding Series 2020

.000

11/01/32

492,509

530,000

Sand Springs Municipal Authority, Oklahoma, Utility System

Revenue Bonds, Refunding Series 2020

.000

11/01/33

512,917

1,990,000

Stephens County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Marlow Public

Schools Project, Series 2022

.000

09/01/34

2,167,990

1,075,000

Stephens County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Marlow Public

Schools Project, Series 2022

.000

09/01/35

1,160,100

1,115,000

Texas County Development Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Guymon Public Schools

Project, Series 2018

.000

12/01/25

1,118,706

3,625,000

Tulsa County Independent School District 001 Tulsa,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2023A

.000

03/01/26

3,586,514

8,750,000

Tulsa County Independent School District 001 Tulsa,

Oklahoma, General Obligation Bonds, Combined Purpose

Series 2024A

.050

04/01/26

8,607,429

10,000,000

Tulsa County Independent School District 4, Tulsa County,

Oklahoma, Combined Purpose Bixby Series 2024

.000

07/01/26

10,074,923

10,740,000

Tulsa County Industrial Authority, Oklahoma, Educational

Facilities Lease Revenue Bonds, Broken Arrow Public Schools

Project, Series 2019A

.000

09/01/28

11,470,725

12,800,000

Tulsa, Oklahoma, General Obligation Bonds, Series 2021

.500

11/01/25

12,760,599

1,470,000

Wagoner County School Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Wagoner Public

Schools Project, Series 2019

.000

09/01/27

1,499,452

300,000

Wagoner County School Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Wagoner Public

Schools Project, Series 2019

.000

09/01/28

308,708

530,000

Washington County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Caney Valley

Public Schools Project, Series 2021

.000

09/01/27

529,830

490,000

Washington County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Caney Valley

Public Schools Project, Series 2021

.000

09/01/29

484,249

1,850,000

Washington County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Caney Valley

Public Schools Project, Series 2021

.000

09/01/31

1,794,616

1,760,000

Weatherford Industrial Trust Educational, Oklahoma, Facilities

Lease Revenue Bonds, Weatherford Public Schools Project,

Series 2019

.000

03/01/27

1,809,271

TOTAL OKLAHOMA

195,119,437

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OREGON - 1.0%

$

1,085,000

Benton and Linn Counties District School District 509J

Corvallis, Oregon, General Obligation Bonds, Series 2018A

.000

%

06/15/26

$

1,104,067

1,000,000

Benton and Linn Counties District School District 509J

Corvallis, Oregon, General Obligation Bonds, Series 2018A

.000

06/15/27

1,044,238

2,390,000

Clackamas County School District 12, North Clackamas,

Oregon, General Obligation Bonds, Series 2017B

.000

06/15/27

2,493,684

2,105,000

Clackamas County School District 12, North Clackamas,

Oregon, General Obligation Bonds, Series 2017B

.000

06/15/28

2,192,724

1,000,000

Mount Hood Community College District, Oregon, General

Obligation Bonds, Series 2025

.000

06/15/30

1,115,553

1,250,000

Mount Hood Community College District, Oregon, General

Obligation Bonds, Series 2025

.000

06/15/31

1,415,356

3,040,000

Mount Hood Community College District, Oregon, General

Obligation Bonds, Series 2025

.000

06/15/32

3,480,414

1,200,000

Oregon Department of Transportation, Revenue Bonds, Grant

Anticipation, Social 2024

.000

05/15/27

1,250,386

11,585,000

Oregon Health and Science University, Revenue Bonds,

Exchange Series 2021C, (Mandatory Put 2/01/29)

.000

07/01/42

11,969,468

7,525,000

Oregon Housing and Community Services Department, Single

Family Mortgage Program Revenue Bonds, Series 2021A

.050

07/01/36

6,113,834

8,000,000

(d) Port of Morrow, Morrow County Oregon, Full Faith and Credit

Obligations, Series 2024A

.150

10/01/26

7,999,946

2,500,000

Portland, Oregon, Water System Revenue Bonds, Refunding

Second Lien Series 2024A

.000

05/01/27

2,601,961

2,750,000

Portland, Oregon, Water System Revenue Bonds, Refunding

Second Lien Series 2024A

.000

05/01/28

2,932,171

1,000,000

Salem-Keizer School District 24J, Marion and Polk Counties,

Oregon, General Obligation Bonds, Series 2009B

.000

06/15/27

955,176

TOTAL OREGON

46,668,978

PENNSYLVANIA - 4.0%

5,410,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2021A,

(AMT)

.000

01/01/26

5,438,578

2,055,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/26

2,075,414

4,435,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, Allegheny Health Network

Obligated Group Issue, Series 2018A

.000

04/01/27

4,575,538

1,513,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-2

.000

06/30/34

1,583,066

19,483,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-3

.000

06/30/39

17,640,744

10,137,000

(e) Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024B-1

.000

06/30/44

7,174,395

1,575,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Taxable Series 2024A-1

.000

06/30/34

1,555,706

3,775,000

Clarion County Industrial Development Authority, Pennsylvania,

Revenue Bonds, Pennsylvania-American Water Company

Project, Refunding Series 2019, (AMT), (Mandatory Put

12/03/29)

.450

12/01/39

3,486,684

1,025,000

Commonwealth Financing Authority, Pennsylvania, State

Appropriation Lease Bonds, Master Settlement, Series 2018 -

AGM Insured

.000

06/01/39

1,007,008

390,000

Lehigh County Industrial Development Authority, Pennsylvania,

Pollution Control Revenue Bonds, Pennsylvania Power and

Light Company, Series 2016A

.000

09/01/29

392,268

5,230,000

Lehigh County Industrial Development Authority, Pennsylvania,

Pollution Control Revenue Bonds, Pennsylvania Power and

Light Company, Series 2016B

.625

02/15/27

5,226,804

4,565,000

Lower Merion School District, Montgomery County,

Pennsylvania, General Obligation Bonds, Series 2019

.000

11/15/30

4,722,720

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

8,065,000

Luzerne County Industrial Development Authority,

Pennsylvania, Revenue Bonds, Pennsylvania-American Water

Company Project, Refunding Series 2019, (AMT), (Mandatory

Put 12/03/29)

.450

%

12/01/39

$

7,454,842

6,540,000

Montgomery County Industrial Development Authority,

Pennsylvania, Facilities Revenue Bonds, Constellation Energy

Generation LLC Project, Refunding Series 2023A, (Mandatory

Put 4/03/28)

.100

04/01/53

6,738,324

1,000,000

(b) North Allegheny School District, Allegheny County,

Pennsylvania, General Obligation Bonds, Series 2025

.000

05/01/30

1,110,120

504,166

(f) Northampton County Industrial Development Authority,

Pennsylvania, Recovery Revenue Bonds, Northampton

Generating Project, Senior Lien Series 2013A0 & AE2

.200

06/30/27

221,833

277,700

(f) Northampton County Industrial Development Authority,

Pennsylvania, Recovery Revenue Bonds, Northampton

Generating Project, Senior Lien Taxable Series 2013B, (cash

5.000%, PIK 5.000%)

.900

06/30/27

49,986

3,000,000

(c) Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Republic Services Inc

Project, Series 2019B-2, (AMT), (Mandatory Put 1/15/26)

.850

04/01/49

2,998,720

15,000,000

Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Waste Management

Inc., Project, Refunding Series 2021B, (AMT), (Mandatory Put

11/02/26)

.100

06/01/31

14,566,350

3,750,000

Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Waste Management Inc.,

Project, Series 2009, (Mandatory Put 12/01/26)

.950

12/01/33

3,624,761

1,270,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-122

.250

10/01/28

1,272,480

1,750,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-123B

.450

10/01/32

1,755,559

6,135,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-124B

.200

10/01/32

6,129,309

3,390,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-125A, (AMT)

.000

04/01/27

3,383,718

3,345,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-125A, (AMT)

.050

10/01/27

3,345,057

8,730,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2017-125A, (AMT)

.400

10/01/32

8,472,716

1,035,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-128A, (AMT)

.650

10/01/32

1,020,223

2,555,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-129

.950

10/01/34

2,367,118

7,070,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2019-130A

.500

10/01/34

6,253,036

4,850,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Series 2020-132A

.300

10/01/35

4,071,889

10,010,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2021-137

.250

10/01/36

8,102,083

3,620,000

Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-145A

.950

04/01/35

3,661,386

9,000,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2023

.000

09/01/27

9,432,751

5,000,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2025A

.000

08/15/29

5,471,762

8,250,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2025A

.000

08/15/33

9,494,253

5,000,000

Pennsylvania State, General Obligation Bonds, First Series

2024

.000

08/15/30

5,569,416

4,420,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Second Series 2016B-2

.000

06/01/29

4,482,743

1,000,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Saint Joseph's University Project,

Refunding Series 2020C. Forward Delivery

.000

11/01/25

1,001,517

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

850,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Saint Joseph's University Project,

Refunding Series 2020C. Forward Delivery

.000

%

11/01/26

$

868,896

1,000,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Saint Joseph's University Project,

Refunding Series 2020C. Forward Delivery

.000

11/01/27

1,040,917

1,000,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Saint Joseph's University Project,

Refunding Series 2020C. Forward Delivery

.000

11/01/28

1,058,020

1,000,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Saint Joseph's University Project,

Refunding Series 2020C. Forward Delivery

.000

11/01/29

1,073,343

3,100,000

Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding

Series 2025B, (AMT)

.000

07/01/29

3,327,297

380,000

Scranton-Lackawanna Health and Welfare Authority,

Pennsylvania, University Revenue Bonds, Marywood University,

Series 2016

.375

06/01/26

374,871

2,550,000

Washington County Industrial Development Authority,

Pennsylvania, College Revenue Bonds, AICUP Financing

Program-Washington and Jefferson College Project, Series

2017-PP5

.000

11/01/25

2,552,698

1,200,000

Westmoreland County Industrial Development Authority,

Pennsylvania, Revenue Bonds, Excela Health Project, Series

2020A

.000

07/01/27

1,232,643

TOTAL PENNSYLVANIA

188,459,562

PUERTO RICO - 3.0%

2,500,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Forward Delivery Series 2022A

.000

07/01/33

2,613,803

3,700,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2020A

.000

07/01/30

3,861,757

2,500,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2020A

.000

07/01/35

2,576,331

935,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/33

973,818

3,880,000

(a) Puerto Rico Industrial, Tourist, Educational, Medical and

Environmental Control Facilities Financing Authority, Hospital

Revenue Bonds, Hospital de la Concepcion, Series 2017A, (Pre-

refunded 11/15/26)

.550

11/15/30

3,907,917

21,485,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/27

20,323,734

36,562,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/29

32,380,422

30,188,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/31

24,735,594

10,142,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/33

7,634,197

636,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.500

07/01/34

636,201

105,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/46

35,856

5,927,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.329

07/01/40

5,677,517

17,443,053

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/27

18,059,738

13,828,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/29

14,798,643

1,860,601

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.750

07/01/31

2,063,067

1,674,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

1,197,623

710,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

702,553

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PUERTO RICO

(continued)

$

634,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

%

07/01/35

$

618,888

TOTAL PUERTO RICO

142,797,659

RHODE ISLAND - 0.7%

3,440,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2019 Series 70

.800

10/01/34

3,160,891

14,005,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2021 Series 75A

.050

10/01/36

11,289,827

9,795,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, 2022 Series 76A

.350

10/01/36

8,109,620

3,070,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bonds, Series 73-A

.100

10/01/35

2,548,688

5,000,000

Rhode Island Housing & Mortgage Finance Corporation,

Homeownership Opportunity Bonds, Series 74

.125

10/01/36

4,094,811

1,230,000

Rhode Island Housing and Mortgage Finance Corporation,

Homeownership Opportunity Bond Program, Series 2020-72A

.300

10/01/35

1,024,437

2,925,000

Rhode Island Tobacco Settlement Financing Corporation,

Tobacco Settlement Asset-Backed Bonds, Series 2015B

.500

06/01/45

2,864,991

TOTAL RHODE ISLAND

33,093,265

SOUTH CAROLINA - 0.7%

455,000

Lexington County Health Services District, Inc., South Carolina,

Hospital Revenue Bonds, Refunding Series 2017

.000

11/01/26

465,851

6,000,000

Patriots Energy Group Financing Agency, South Carolina,

Gas Supply Revenue Bonds, Series 2023A-1, (Mandatory Put

8/01/31)

.250

10/01/54

6,540,037

3,985,000

South Carolina Association of Governmental Organizations,

Educational Facilities Corporation for Pickens School District,

Installment Purchase Revenue Bonds, Pickens County,

Refunding Series 2025

.000

12/01/29

4,374,905

1,140,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2019B

.650

07/01/34

1,035,452

2,830,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2020B

.000

07/01/35

2,289,319

6,105,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2021A

.850

07/01/36

4,819,151

595,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2023A

.450

07/01/38

606,642

2,865,000

South Carolina Housing Finance and Development Authority,

Mortgage Revenue Bonds, Series 2024B

.000

07/01/39

2,847,431

11,050,000

South Carolina Jobs-Economic Development Authority,

Revenue Bonds, International Paper Company Project,

Refunding Environmental Improvement Series 2023A, (AMT),

(Mandatory Put 4/01/26)

.000

04/01/33

11,103,652

TOTAL SOUTH CAROLINA

34,082,440

SOUTH DAKOTA - 0.4%

3,060,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2021A

.900

11/01/36

2,436,884

5,000,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2021B

.850

11/01/36

3,902,470

7,310,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2022B

.300

11/01/37

5,914,610

1,225,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2022C

.125

11/01/37

1,225,212

2,275,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2024C

.000

11/01/37

2,274,677

2,755,000

(b) South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2025E

.250

05/01/56

3,150,383

TOTAL SOUTH DAKOTA

18,904,236

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TENNESSEE - 1.0%

$

3,650,000

Hamilton County, Tennessee, General Obligation Bonds,

Refunding Series 2024B

.000

%

05/01/30

$

4,082,118

2,335,000

Knox County Health, Educational and Housing Facility Board,

Tennessee, Hospital Revenue Bonds, East Tennessee Children's

Hospital, Series 2019

.000

11/15/32

2,476,436

2,810,000

Knox County Health, Educational and Housing Facility Board,

Tennessee, Hospital Revenue Bonds, East Tennessee Children's

Hospital, Series 2019

.000

11/15/33

2,961,979

800,000

Metropolitan Nashville Airport Authority, Tennessee, Airport

Improvement Revenue Bonds, Series 2022B, (AMT)

.000

07/01/26

812,295

700,000

Metropolitan Nashville Airport Authority, Tennessee, Airport

Improvement Revenue Bonds, Series 2022B, (AMT)

.000

07/01/27

725,084

10,800,000

Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series

2021A, (Mandatory Put 9/01/28)

.000

12/01/51

11,068,675

1,640,000

Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series

2022A, (Mandatory Put 12/01/30)

.500

10/01/53

1,770,690

840,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2015-1C

.850

07/01/32

840,195

2,890,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-1

.400

07/01/34

2,877,270

3,050,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2019-2

.800

07/01/34

2,816,170

610,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2020-3A

.100

07/01/35

507,403

1,835,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-1

.050

07/01/36

1,492,522

2,285,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-2

.000

07/01/37

1,775,051

3,345,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2021-3

.050

07/01/36

2,717,711

900,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Series 2022-2

.050

07/01/37

906,203

3,750,000

The Tennessee Energy Acquisition Corporation, Gas Project

Revenue Bonds, Refunding Series 2025A

.000

12/01/35

4,058,922

2,155,000

The Tennessee Energy Acquisition Corporation, Gas Project

Revenue Bonds, Series 2018, (Mandatory Put 11/01/25)

.000

11/01/49

2,157,379

2,000,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006B

.625

09/01/26

2,032,101

TOTAL TENNESSEE

46,078,204

TEXAS - 10.7%

1,445,000

Arlington, Texas, Water and Wastewater System Revenue

Bonds, Refunding Improvement Series 2024

.000

06/01/26

1,468,915

1,660,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/26

1,662,834

1,290,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/27

1,304,638

1,920,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/29

1,941,637

550,000

Austin, Texas, Airport System Revenue Bonds, Series 2019B,

(AMT)

.000

11/15/25

551,371

5,365,000

(b) Austin, Texas, Certificates of Obligation, Series 2025

.000

09/01/29

5,870,054

2,310,000

Austin, Texas, General Obligation Bonds, Refunding & Public

Improvement Series 2023

.000

09/01/26

2,361,703

2,280,000

Austin, Texas, General Obligation Bonds, Refunding & Public

Improvement Series 2023

.000

09/01/27

2,389,193

1,050,000

Austin, Texas, Water and Wastewater System Revenue Bonds,

Refunding Forward Delivery Series 2023

.000

11/15/26

1,078,909

12,015,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2024B

.000

08/15/29

13,167,289

6,950,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2025A

.000

08/15/28

7,455,838

13,415,000

Central Texas Regional Mobility Authority, Revenue Bonds,

Anticipation Notes Subordinate Lien Series 2021C

.000

01/01/27

13,479,244

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

10,410,000

Clear Creek Independent School District, Galveston and Harris

Counties, Texas, General Obligation Bonds, Refunding &

School Building Series 2025

.000

%

02/15/33

$

11,937,943

5,000,000

Clear Creek Independent School District, Galveston and Harris

Counties, Texas, General Obligation Bonds, Refunding &

School Building Series 2025

.000

02/15/34

5,771,840

2,500,000

Collin County, Texas, General Obligation Bonds, Refunding

Limited Tax Permanent Improvement, Tax Notes Series 2025

.000

02/15/30

2,754,987

3,830,000

Collin County, Texas, General Obligation Bonds, Refunding

Limited Tax Permanent Improvement, Tax Notes Series 2025

.000

02/15/31

4,286,170

6,885,000

Cypress-Fairbanks Independent School District, Harris County,

Texas, General Obligation Bonds, Refunding Series 2025

.000

02/15/29

7,466,723

6,430,000

Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds Refunding Series 2023C, (AMT)

.000

11/01/26

6,566,023

6,810,000

Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds Refunding Series 2023C, (AMT)

.000

11/01/27

7,098,470

6,060,000

Dallas, Texas, General Obligation Bonds, Refunding and

Improvement Series 2024B

.000

02/15/27

6,262,159

3,000,000

(b) Denton County, Texas, General Obligation Bonds, Refunding

Permanent Improvement Series 2025

.000

07/15/30

3,337,769

9,980,000

Denton, Texas, Certificates of Obligation, Series 2025

.000

02/15/30

10,997,907

6,725,000

Fort Bend County, Texas, Certificates of Obligation, Series 2025

.000

03/01/30

7,411,390

3,525,000

Fort Bend County, Texas, General Obligation Bonds, Tax Road

Series 2024

.000

03/01/28

3,731,132

2,595,000

Fort Worth, Texas, General Obligation Bonds, General Purpose

Series 2025

.000

03/01/31

2,908,641

1,295,000

Fort Worth, Texas, General Obligation Bonds, Tax Notes Series

2025

.000

03/01/30

1,427,744

3,005,000

Fort Worth, Texas, General Obligation Bonds, Tax Notes Series

2025

.000

03/01/30

3,313,029

3,665,000

Frisco Independent School District, Collin and Denton

Counties, Texas, General Obligation Bonds, Refunding Series

2025A

.000

02/15/30

4,048,407

5,095,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/27

5,269,165

5,450,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/28

5,775,936

5,780,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/29

6,254,689

9,570,000

Grand Prairie Independent School District, Dallas County,

Texas, General Obligation Bonds, Refunding Series 2015

.000

02/15/32

9,576,294

5,185,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Refunding Series 2020C-3,

(Mandatory Put 12/01/26)

.000

06/01/32

5,321,460

10,085,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2019B-3, (Mandatory Put

12/01/26)

.000

07/01/49

10,350,420

3,240,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2022B, (Mandatory Put

12/01/28)

.000

06/01/50

3,432,825

8,310,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2024C, (Mandatory Put

7/01/29)

.000

07/01/54

8,899,932

4,530,000

Harris County Flood Control District, Texas, Contract Tax Bonds,

Refunding Series 2025A

.000

09/15/29

4,964,331

5,680,000

Harris County, Texas, General Obligation Bonds, Refunding

Road Series 2025A

.000

09/15/29

6,229,089

6,570,000

Harris County, Texas, General Obligation Bonds, Refunding

Road Series 2025A

.000

09/15/30

7,345,942

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

2,550,000

Harris County, Texas, Road Revenue Bonds, Refunding, Series

2024A

.000

%

09/15/27

$

2,677,762

2,500,000

Harris County, Texas, Road Revenue Bonds, Refunding, Series

2024A

.000

09/15/28

2,687,064

1,710,000

Harris County, Texas, Toll Road Revenue Bonds, Refunding First

Lien Series 2024A

.000

08/15/26

1,747,188

2,535,000

Harris County, Texas, Toll Road Revenue Bonds, Refunding First

Lien Series 2024A

.000

08/15/27

2,653,431

4,230,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.250

07/15/33

4,536,031

1,000,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.250

07/15/34

1,071,629

3,000,000

Houston, Texas, Combined Utility System Revenue Bonds,

Combined First Lien Series 2024A

.000

11/15/26

3,081,586

2,225,000

Houston, Texas, General Obligation Bonds, Public

Improvement and Refunding Series 2024B

.000

03/01/26

2,246,358

7,080,000

Houston, Texas, General Obligation Bonds, Public

Improvement Refunding Series 2025

.000

03/01/29

7,659,106

6,000,000

Houston, Texas, General Obligation Bonds, Public

Improvement Refunding Series 2025

.000

03/01/30

6,622,956

8,845,000

Houston, Texas, General Obligation Bonds, Refunding Public

Improvement Series 2016A

.000

03/01/27

8,931,530

3,180,000

Irving Independent School District, Dallas County, Texas,

General Obligation Bonds, School Building Series 2023

.000

02/15/36

3,486,486

3,420,000

Irving Independent School District, Dallas County, Texas,

General Obligation Bonds, School Building Series 2023

.000

02/15/37

3,718,338

5,055,000

Irving, Dallas County, Texas, General Obligation Bonds, Series

2024

.000

09/15/28

5,431,744

6,055,000

Irving, Dallas County, Texas, General Obligation Bonds, Series

2024

.000

09/15/29

6,649,942

1,250,000

Leander, Texas, Certificates of Obligation, Combination Tax &

Revenue Series 2025

.000

08/15/29

1,368,425

1,000,000

Leander, Texas, Certificates of Obligation, Combination Tax &

Revenue Series 2025

.000

08/15/30

1,114,855

1,300,000

Lower Colorado River Authority, Texas, Revenue Bonds,

Refunding Series 2023A

.000

05/15/26

1,318,798

7,250,000

Matagorda County Navigation District 1, Texas, Pollution

Control Revenue Bonds, Central Power & Light Company

Project, Refunding Series 1996, (AMT)

.250

05/01/30

7,572,298

2,030,000

(d) Mission Economic Development Corporation, Texas, Revenue

Bonds, Natgasoline Project, Senior Lien Series 2018, (AMT)

.625

10/01/31

2,032,432

750,000

Mission Economic Development Corporation, Texas,

Solid Waste Disposal Revenue Bonds, Graphic Packaging

International, LLC Project, Green Series 2025, (AMT),

(Mandatory Put 6/01/30)

.000

12/01/64

777,291

3,230,000

(c) Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Republic Services Inc.

Project, Adjustable Rate Series 2020A, (AMT), (Mandatory Put

11/03/25)

.850

05/01/50

3,229,618

3,750,000

Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Waste Management Inc.

Project, Series 2023A, (AMT), (Mandatory Put 7/01/27)

.250

06/01/48

3,772,441

5,140,000

North East Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding Series 2025

.000

08/01/30

5,733,563

5,430,000

(b) North Texas Municipal Water District, Texas, Regional

Wastewater Revenue Bonds, Improvement and Refunding

Series 2025

.000

06/01/31

6,096,976

7,375,000

North Texas Municipal Water District, Water System Revenue

Bonds, Refunding & Improvement Series 2025

.000

09/01/29

8,089,990

3,570,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier Series 2023A

.000

01/01/27

3,682,068

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

3,200,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier, Series 2017A

.000

%

01/01/27

$

3,219,206

5,000,000

Pasadena Independent School District, Harris County, Texas,

General Obligation Bonds, School Building Series 2015A

.000

02/15/32

5,003,288

8,685,000

Plano Independent School District, Collin County, Texas,

General Obligation Bonds, School Building Series 2025

.000

02/15/28

9,200,274

7,000,000

Red River Education Finance Corporation, Texas, Higher

Education Revenue Bonds, Texas Christian University Project,

Refunding & Improvement Series 2024

.000

03/15/35

8,078,105

1,750,000

San Antonio, Texas, Combination Tax and Revenue Certificates

of Obligation, Series 2024

.000

02/01/30

1,926,299

1,750,000

San Antonio, Texas, Combination Tax and Revenue Certificates

of Obligation, Taxable Series 2024

.000

02/01/32

1,970,618

2,150,000

(b) San Antonio, Texas, Water System Revenue Bonds, Refunding

Junior Lien Series 2025C

.000

05/15/30

2,384,883

5,000,000

Spring Branch Independent School District, Harris County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/01/28

5,296,596

5,000,000

Spring Branch Independent School District, Harris County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/01/29

5,407,792

8,955,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Scott & White

Healthcare Project, Series 2022E, (Mandatory Put 5/15/26)

.000

11/15/52

9,032,587

7,550,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025B, (Mandatory Put 11/15/29)

.000

11/15/64

8,159,921

2,475,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Series 2019A

.500

07/01/34

2,475,016

4,860,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Series 2024C

.100

01/01/39

4,852,217

3,405,000

Texas Department of Housing and Community Affairs, Single

Family Mortgage Revenue Bonds, Series 2021A

.850

09/01/36

2,672,722

5,000,000

Texas Municipal Gas Acquisition and Supply Corporation IV,

Gas Supply Revenue Bonds, Series 2023A, (Mandatory Put

1/01/30)

.500

01/01/54

5,380,526

15,040,000

Texas Municipal Gas Acquisition and Supply Corporation IV,

Gas Supply Revenue Bonds, Series 2023B, (Mandatory Put

1/01/34)

.500

01/01/54

16,942,560

5,665,000

Texas Municipal Gas Acquisition and Supply Corporation V,

Texas, Gas Supply Revenue Bonds, Series 2024, (Mandatory Put

1/01/34)

.000

01/01/55

6,191,582

4,000,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.000

12/31/33

4,247,985

2,900,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.000

06/30/34

3,075,081

3,025,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

12/31/30

3,141,799

4,005,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/31

4,148,270

5,025,000

Texas State University System, Financing Revenue Bonds,

Refunding Series 2024

.000

03/15/26

5,081,417

3,155,000

Texas State University System, Financing Revenue Bonds,

Refunding Series 2024

.000

03/15/27

3,274,299

7,500,000

Texas State, General Obligation Bonds, Texas Transportation

Commission, Mobility Fund Refunding Series 2024

.000

10/01/31

8,529,244

13,330,000

Texas State, General Obligation Bonds, Transportation

Commission Mobility Fund, Refunding Series 2015A

.000

10/01/32

13,295,129

10,000,000

Texas State, General Obligation Bonds, Transportation

Commission Mobility Fund, Refunding Series 2015B

.000

10/01/36

9,994,650

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

5,315,000

Texas Transportation Commission, Central Texas Turnpike

System Revenue Bonds, Refunding Second Tier Series 2024C

.000

%

08/15/31

$

5,963,392

4,010,000

Texas Transportation Commission, General Obligation Bonds,

Highway Improvement Refunding Series 2024

.000

04/01/26

4,060,638

4,355,000

Texas Transportation Commission, General Obligation Bonds,

Highway Improvement Refunding Series 2024

.000

04/01/28

4,638,959

12,710,000

(b) Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2025

.000

04/15/30

14,095,816

TOTAL TEXAS

505,202,819

UTAH - 0.8%

1,000,000

Alpine School District Local Building Authority, Utah County,

Utah, Lease Revenue Bonds, Series 2025

.000

03/15/30

1,111,349

2,750,000

Intermountain Power Agency, Utah, Power Supply Revenue

Bonds, Series 2022A

.000

07/01/27

2,862,912

1,100,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/26

1,116,906

1,205,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/27

1,249,227

1,100,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/28

1,164,402

1,635,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/29

1,757,893

1,470,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.000

07/01/30

1,603,321

2,000,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2025A, (AMT)

.000

07/01/28

2,117,096

5,160,000

Utah County, Utah, Hospital Revenue Bonds, IHC Health

Services Inc., Series 2020B-2, (Mandatory Put 8/01/26)

.000

05/15/60

5,256,234

3,610,000

Utah Housing Corporation, Single Family Mortgage Bonds,

Series 2024E

.050

07/01/39

3,595,437

700,000

Utah Telecommunication Open Infrastructure Agency, Utah,

Revenue Bonds, Refunding Sales Tax and Telecommunication

Series 2022

.000

06/01/26

709,719

1,515,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Series 2024

.000

06/15/30

1,695,078

1,125,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Series 2024

.000

06/15/31

1,279,592

1,375,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Series 2024

.000

06/15/32

1,583,325

6,595,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Series 2025

.000

12/15/28

7,142,961

3,190,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Subordinate Series 2024

.000

06/15/30

3,561,628

TOTAL UTAH

37,807,080

VERMONT - 0.1%

1,155,000

Vermont Housing Finance Agency, Multiple Purpose Bonds,

Series 2021A

.200

11/01/36

925,774

2,875,000

Vermont Housing Finance Agency, Multiple Purpose Bonds,

Social Series 2024C

.125

11/01/39

2,844,887

TOTAL VERMONT

3,770,661

VIRGINIA - 0.8%

2,700,000

Alexandria Redevelopment and Housing Authority, Virginia,

Multifamily Housing Revenue Bonds, 431 S Columbus St Block

4, Series 2024A, (Mandatory Put 12/01/25)

.400

12/01/54

2,701,246

4,525,000

Charles City County Industrial Development Authority,

Virginia, Solid Waste Disposal Facility Revenue Bonds, Waste

Management, Inc., Series 2002, (AMT)

.450

04/01/27

4,378,238

2,000,000

Hampton Roads Sanitation District, Virginia, Wastewater

Revenue Bonds, Subordinate Series 2025A

.000

07/15/26

2,035,764

5,270,000

Hampton Roads Transportation Accountability Commission,

Virginia, Revenue Bonds, Hampton Roads Transportation Fund,

Intermediate Lien Bond Anticipation Notes Series 2023A

.000

07/01/27

5,504,837

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VIRGINIA

(continued)

$

7,530,000

Loudoun County, Virginia, General Obligation Bonds, Public

Improvement Series 2019A

.000

%

12/01/26

$

7,759,823

5,350,000

Loudoun County, Virginia, General Obligation Bonds, Public

Improvement Series 2023A

.000

12/01/35

6,029,277

1,800,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-3

.000

10/01/39

1,783,883

2,720,000

Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2023E-4

.100

07/01/40

2,723,552

1,300,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2024H

.625

06/01/29

1,304,346

2,000,000

Virginia Small Business Financing Authority, Revenue Bonds,

Elizabeth River Crossing OPCO, LLC Project, Refunding Senior

Lien Series 2022, (AMT)

.000

01/01/36

1,988,727

1,715,000

Wise County Industrial Development Authority, Virginia, Solid

Waste and Sewage Disposal Revenue Bonds, Virginia Electric

and Power Company, Series 2009A, (Mandatory Put 10/01/30)

.125

10/01/40

1,727,656

TOTAL VIRGINIA

37,937,349

WASHINGTON - 1.3%

2,530,000

(b) King and Snohomish Counties School District 417 Northshore,

Washington, General Obligation Bonds, Refunding Series 2025

.000

12/01/30

2,837,104

4,905,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2025B, (AMT)

.000

10/01/29

5,302,475

3,770,000

Port of Seattle, Washington, Revenue Bonds, Refunding First

Lien Series 2016B, (AMT)

.000

10/01/28

3,803,643

6,500,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Series 2024B, (AMT)

.000

07/01/27

6,745,349

3,750,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Series 2024B, (AMT)

.000

07/01/28

3,972,622

4,275,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Series 2024B, (AMT)

.000

07/01/31

4,727,549

1,625,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/25

1,625,000

2,910,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/26

2,959,522

3,055,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/27

3,181,294

2,380,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/28

2,525,168

3,755,000

Washington State Housing Finance Commission, Single Family

Program Bonds, Series 2021-1N

.000

12/01/36

2,988,832

1,500,000

Washington State Housing Finance Commission, Single Family

Program Bonds, Series 2021-2N

.250

12/01/36

1,207,843

3,622,001

Washington State Housing Finance Commission, Social

Municipal Certificates Multifamily Revenue Bonds, Series 2021-

1 Class A

.500

12/20/35

3,491,937

2,700,000

Washington State, General Obligation Bonds, Refunding Motor

Vehicle Fuel Tax Series R-2025E

.000

08/01/32

3,096,982

160,000

Washington State, General Obligation Bonds, Refunding Motor

Vehicle Fuel Tax, Series R-2020D

.000

07/01/26

162,939

5,040,000

Washington State, General Obligation Bonds, Various Purpose

Refunding Series 2025B

.000

07/01/29

5,516,513

8,225,000

Washington State, General Obligation Bonds, Various Purpose

Series 2026A

.000

08/01/31

9,338,354

TOTAL WASHINGTON

63,483,126

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WEST VIRGINIA - 0.6%

$

2,500,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Refunidng Series 2015A, (Mandatory

Put 6/15/28)

.375

%

03/01/40

$

2,541,941

2,605,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Series 2009B, (Mandatory Put

6/01/28)

.700

12/01/42

2,669,201

7,095,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Series 2010, (Mandatory Put

12/15/25)

.625

12/01/38

7,058,354

1,000,000

(d) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35)

.450

01/01/55

1,043,614

9,500,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Wheeling Power Company

- Mitchell Project, Refunding Series 2013A, (AMT), (Mandatory

Put 6/18/27)

.000

06/01/37

9,412,594

2,120,000

West Virginia Hospital Finance Authority, Hospital Revenue

Bonds, Charleston Area Medical Center, Series 2014A

.000

09/01/27

2,123,010

1,015,000

West Virginia Hospital Finance Authority, Hospital Revenue

Bonds, Charleston Area Medical Center, Series 2014A

.000

09/01/28

1,016,402

2,405,000

West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System System Obligated Group,

Improvement Series 2025B, (Mandatory Put 6/01/33)

.000

06/01/55

2,627,612

TOTAL WEST VIRGINIA

28,492,728

WISCONSIN - 2.7%

1,385,000

Dodge County, Wisconsin, General Obligation Bonds,

Refunding Series 2022A

.000

03/01/26

1,385,703

2,460,000

Madison Metropolitan School District, Dane County, Wisconsin,

General Obligation Bonds, School Building & Facility

Improvement Series 2023

.000

03/01/36

2,510,093

6,435,000

Madison, Wisconsin, General Obligation Bonds, Promissory

Notes Series 2023A

.000

10/01/26

6,602,147

9,750,000

Madison, Wisconsin, Industrial Development Revenue

Refunding Bonds, Madison Gas and Electric Company Projects,

Series 2020A

.750

10/01/27

9,913,977

3,665,000

Milwaukee Area Technical College District, Wisconsin, General

Obligation Promissory Notes, Series 2023-24C

.000

06/01/26

3,726,635

8,545,000

Public Finance Authority of Wisconsin, Pollution Control

Revenue Bonds, Duke Energy Progress Project, Refunding

Series 2022A-2, (Mandatory Put 10/01/26)

.300

10/01/46

8,569,522

12,505,000

Public Finance Authority of Wisconsin, Solid Waste Disposal

Revenue Bonds, Waste Management Inc., Refunding Series

2016A-3, (Mandatory Put 6/01/26)

.100

07/01/29

12,279,401

4,000,000

Public Finance Authority of Wisconsin, Solid Waste Disposal

Revenue Bonds, Waste Management Inc., Refunding Series

2016A-4, (Mandatory Put 6/01/26)

.100

04/01/33

3,927,096

2,250,000

Public Finance Authority, Wisconsin, Exempt Facilities Revenue

Bonds, Celanese Project, Refunding Series 2016C

.050

11/01/30

2,251,643

5,000,000

Public Finance Authority, Wisconsin, Exempt Facilities Revenue

Bonds, Celanese Project, Refunding Series 2016C

.300

11/01/30

5,006,489

7,080,000

University of Wisconsin Hospitals and Clinics Authority,

Revenue Bonds, Sustainability Series 2002B, (Mandatory Put

10/01/31)

.000

04/01/54

7,839,832

3,830,000

Waushara County, Wisconsin Note Anticipation Notes, Series

2022A

.500

06/01/27

3,834,345

4,015,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Advocate Aurora Health Credit

Group, Series 2018C-1, (Mandatory Put 7/29/26)

.000

08/15/54

4,087,932

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

5,000,000

(a) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Marshfield Clinic Health System,

Inc., Series 2020B-2, (Pre-refunded 8/15/26), (Mandatory Put

2/15/27)

.000

%

02/15/51

$

5,103,139

1,770,000

Wisconsin Housing and Ecconomic Development Authority,

Home Ownership Revenue Bonds, Series 2019C

.200

03/01/31

1,652,815

1,785,000

Wisconsin Housing and Ecconomic Development Authority,

Home Ownership Revenue Bonds, Series 2019C

.200

09/01/31

1,650,306

5,075,000

Wisconsin Housing and Ecconomic Development Authority,

Home Ownership Revenue Bonds, Series 2019C

.500

09/01/34

4,483,070

2,360,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2023B, (Mandatory Put

11/01/26)

.750

05/01/54

2,361,045

1,740,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2023E, (Mandatory Put

5/01/27)

.875

11/01/54

1,741,366

6,000,000

Wisconsin State, General Obligation Bonds, Refunding

Forward Delivery Series 2025-2

.000

05/01/27

6,244,707

2,205,000

Wisconsin State, General Obligation Bonds, Refunding Series

2024-2

.000

05/01/27

2,294,930

9,250,000

Wisconsin State, General Obligation Bonds, Refunding Series

2024-2

.000

05/01/28

9,879,567

10,000,000

Wisconsin State, General Obligation Bonds, Refunding Series

2025-3

.000

05/01/30

11,170,022

6,580,000

Wisconsin State, General Obligation Bonds, Series 2025B

.000

05/01/32

7,575,602

TOTAL WISCONSIN

126,091,384

WYOMING - 0.6%

20,555,000

Sweetwater County, Wyoming, Pollution Control Revenue

Refunding Bonds, Idaho Power Company Project, Series 2006

.700

07/15/26

20,247,896

2,510,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2019 Series 3

.450

12/01/34

2,197,432

1,310,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2020 Series 1

.625

12/01/35

1,174,594

2,575,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2020 Series 2

.100

12/01/35

2,126,926

5,375,000

Wyoming Community Development Authority, Housing

Revenue Bonds, 2021 Series 3

.000

12/01/36

4,278,288

TOTAL WYOMING

30,025,136

TOTAL MUNICIPAL BONDS

(Cost $4,666,010,231)

4,598,356,078

TOTAL LONG-TERM INVESTMENTS

(Cost $4,666,010,231)

4,598,356,078

BORROWINGS - (0.1)% (g)

(5,752,672)

OTHER ASSETS & LIABILITIES, NET - 2.9%

139,114,131

NET ASSETS - 100%

$

4,731,717,537

AMT

Alternative Minimum Tax

ETM

Escrowed to maturity

PIK

Payment-in-kind ("PIK") security. Depending on the terms of the security, income may be received in the form of cash, securities, or

a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the

issuer as of the end of the reporting period.

(a) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely

payment of principal and interest.

(b) When-issued or delayed delivery security.

(c) Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of

the security. Coupon rate reflects the rate at period end.

(d) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the reporting period, the aggregate value of these securities is $75,763,110 or 1.6% of Total Investments.

(e) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding.

The rate shown is the coupon as of the end of the reporting period.

(f) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of

bankruptcy.

#### Portfolio of Investments September 30, 2025
(continued)

#### Limited Term

See Notes To Financial Statements

(g) Borrowings as a percentage of Total Investments is 0.1%.

#### Portfolio of Investments September 30, 2025

#### Short Term
See Notes To Financial Statements

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 100.1%

446647670

MUNICIPAL BONDS - 100.1%

446647670

ALABAMA - 4.9%

$

4,225,000

(a) Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Project 4 Series 2019A-1, (Pre-refunded 12/01/25),

(Mandatory Put 12/01/25)

.000

%

12/01/49

$

4,239,256

2,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Prepay BP PLC, Series 2024D

.000

11/01/27

2,069,938

500,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025A

.000

05/01/27

505,748

300,000

(b) Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025D

.000

08/01/27

311,103

1,000,000

(b) Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025D

.000

08/01/28

1,053,840

1,000,000

Black Belt Energy Gas District, Alabama, Gas Supply Revenue

Bonds, Series 2023 Sub B-1

.000

06/01/27

1,030,901

1,600,000

Energy Southeast Cooperative District, Alabama, Energy

Supply Revenue Bonds, Fixed Rate Series 2023B-1

.500

11/01/27

1,673,912

1,000,000

Jefferson County, Alabama, Sewer Revenue Warrants, Series

2024

.000

10/01/27

1,046,903

2,985,000

Lower Alabama Gas District, Alabama, Goldman Sachs Gas

Project 2 Revenue Bonds, Series 2020A, (Mandatory Put

12/01/25)

.000

12/01/50

2,991,163

630,000

Mobile Industrial Development Board, Alabama, Pollution

Control Revenue Refunding Bonds, Alabama Power Company

Barry Plan, Series 2007A, (Mandatory Put 6/26/29)

.375

06/01/34

639,831

1,500,000

Southeast Alabama Gas Supply District, Alabama, Gas Supply

Revenue Bonds, Project 1, Refunding Series 2024A

.000

04/01/28

1,572,066

1,500,000

Southeast Energy Authority, Alabama, A Cooperative District

Energy Supply Revenue Bonds Series 2024A

.000

11/01/27

1,540,253

1,270,000

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 3, Fixed Rate Series 2022A-1

.000

12/01/26

1,294,891

300,000

Southeast Energy Authority, Alabama, Revenue Bonds, A

Cooperative District Energy Supply Series 2025D

.000

09/01/28

314,290

1,580,000

Southeast Energy Authority, Alabama, Revenue Bonds,

Cooperative District Energy Supply Series 2025B

.000

01/01/28

1,631,117

TOTAL ALABAMA

21,915,212

ALASKA - 2.0%

815,000

Alaska Housing Finance Corporation, Collateralized Mortgage

Bonds, Veterans Mortgage Program, 2024 First Series

.250

12/01/27

822,818

1,000,000

Alaska Housing Finance Corporation, General Obligation

Bonds, State Capital Project II, Series 2024A

.000

12/01/27

1,053,469

5,000,000

Alaska Housing Finance Corporation, General Obligation

Bonds, State Capital Project II, Series 2025A

.000

12/01/27

5,254,348

500,000

Alaska Municipal Bond Bank, General Obligation Bonds,

Refunding Three Series 2025

.000

10/01/29

549,653

1,015,000

Alaska State, General Obligation Bonds, Refunding Series

2024B

.000

08/01/27

1,062,682

TOTAL ALASKA

8,742,970

ARIZONA - 3.7%

650,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2007, (AMT), (Mandatory Put 6/15/28)

.100

12/01/37

654,185

530,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2019, (AMT), (Mandatory Put 6/01/29)

.000

06/01/49

541,255

2,420,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2022-2, (AMT), (Mandatory Put 9/01/27)

.000

09/01/52

2,461,461

1,000,000

Coconino County, Arizona, Pollution Control Revenue Bonds,

Nevada Power Company Project, Refunding Series 2017B,

(Mandatory Put 3/31/26)

.750

03/01/39

1,002,525

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

640,000

Kyrene Elementary School District 28, Maricopa County,

Arizona, School Improvement Bonds, Project 2017, Series

2023D

.000

%

07/01/26

$

651,899

510,000

Kyrene Elementary School District 28, Maricopa County,

Arizona, School Improvement Bonds, Project 2017, Series

2023D

.000

07/01/27

533,174

370,000

Kyrene Elementary School District 28, Maricopa County,

Arizona, School Improvement Bonds, Project 2017, Series

2023D

.000

07/01/28

396,334

7,550,000

Maricopa County Industrial Development Authority, Arizona,

Revenue Bonds, Banner Health, Series 2019D, (Mandatory Put

5/15/26)

.000

01/01/46

7,654,946

1,165,000

Maricopa County Union High School District 210 Phoenix,

Arizona, General Obligation Bonds, School Improvement &

Project of 2023 Series 2025B

.000

07/01/28

1,249,206

385,000

Pinal County, Arizona, Pledged Revenue Obligations,

Refunding Series 2025 - BAM Insured

.000

08/01/28

412,108

1,000,000

Tempe, Arizona, General Obligation Bonds, Refunding Series

2025

.000

07/01/29

1,095,677

TOTAL ARIZONA

16,652,770

CALIFORNIA - 2.7%

1,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023E-1

.000

09/01/27

1,037,782

1,750,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024B

.000

12/01/27

1,810,916

150,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025C

.000

10/01/28

157,693

500,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025D

.000

07/01/30

530,975

1,000,000

(c),(d)

California Pollution Control Financing Authority, (AMT),

(Mandatory Put 10/15/25)

.850

11/01/42

999,949

260,000

(c),(d)

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Republic Services Inc., Refunding

Series 2023, (AMT), (Mandatory Put 2/17/26)

.800

07/01/43

259,821

2,000,000

California State, General Obligation Bonds, Various Purpose

Refunding Series 2025

.000

08/01/28

2,148,075

2,000,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding

Subordinate Green Series 2025A, (AMT)

.000

05/15/29

2,152,706

1,000,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Senior Series 2025B, (AMT)

.000

07/01/29

1,078,859

2,000,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Subordinate Series 2021B, (AMT)

.000

07/01/26

2,034,032

TOTAL CALIFORNIA

12,210,808

COLORADO - 6.6%

655,000

(d) Broadway Park North Metropolitan District 2, Denver,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2020

.375

12/01/26

644,294

100,000

Colorado Educational and Cultural Facilities Authority, Revenue

Bonds, Aspen View Academy Project, Series 2021

.000

05/01/26

99,942

630,000

(a) Colorado Health Facilities Authority, Colorado, Revenue Bonds,

AdventHealth Obligated Group, Series 2019B, (Pre-refunded

11/19/26)

.000

11/15/49

646,414

1,785,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Adventist Health, Sunbelt Obligated Group, Series 2016C,

(Mandatory Put 11/15/26)

.000

11/15/36

1,827,547

500,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2019A-2

.000

08/01/26

508,484

2,265,000

Colorado Health Facilities Authority, Colorado, Revenue

Bonds, CommonSpirit Health, Series 2019B-2, (Mandatory Put

8/01/26)

.000

08/01/49

2,276,751

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

12,320,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Intermountain Healthcare, Series 2022A, (Mandatory Put

8/17/26)

.000

%

05/15/62

$

12,546,539

2,300,000

Colorado Housing and Finance Authority, Multi Family Project

Bonds, Class I Series 2025C-2

.350

07/01/28

2,333,653

2,000,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022D, (AMT)

.000

11/15/25

2,005,110

3,500,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022D, (AMT)

.250

11/15/26

3,598,117

2,055,000

Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2018A, (AMT)

.000

12/01/27

2,149,789

290,000

Gold Hill Mesa Metropolitan District 2, Colorado Springs, El

Paso County, Colorado, Limited Tax General Obligation and

Special Revenue Bonds, Refunding & Improvement Series

2022A - BAM Insured

.000

12/01/26

297,329

100,000

Prairiestar Metropolitan District 2, Larimer County, Colorado,

Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2021A - BAM Insured

.000

12/01/25

100,343

510,000

Ravenna Metropolitan District, Douglas County, Colorado,

General Obligation Bonds, Refunding Limited Tax Series 2023

- AGM Insured

.000

12/01/27

531,119

TOTAL COLORADO

29,565,431

CONNECTICUT - 2.4%

630,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2025A-1

.200

05/15/28

637,722

650,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2025A-1

.200

11/15/28

661,125

550,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2025B-2, (Mandatory Put

5/15/28)

.300

05/15/60

554,010

2,000,000

(b) Connecticut State, General Obligation Bonds, Refunding Series

2025D

.000

08/15/29

2,188,421

1,000,000

Connecticut State, General Obligation Bonds, Series 2025A

.000

03/15/28

1,061,606

1,000,000

Connecticut State, General Obligation Bonds, Series 2025A

.000

03/15/29

1,085,449

1,180,000

Connecticut State, Special Tax Obligation Bonds,

Transportation Infrastructure Purposes, Refunding Forward

Delivery Series 2021C

.000

01/01/27

1,217,634

3,340,000

University of Connecticut, General Obligation Bonds,

Refunding Series 2023A

.000

08/15/27

3,501,682

TOTAL CONNECTICUT

10,907,649

DELAWARE - 0.3%

225,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025A

.250

07/01/27

226,700

205,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025A

.300

01/01/28

207,259

590,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025A

.350

07/01/28

598,007

430,000

Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2025A

.400

01/01/29

437,736

TOTAL DELAWARE

1,469,702

DISTRICT OF COLUMBIA - 2.0%

6,005,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2017, (AMT)

.000

10/01/26

6,129,218

1,700,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2022A, (AMT)

.000

10/01/25

1,700,000

1,000,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2023A, (AMT)

.000

10/01/25

1,000,000

TOTAL DISTRICT OF COLUMBIA

8,829,218

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA - 3.9%

$

1,735,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Series

2025B, (AMT), (Mandatory Put 6/15/26)

.000

%

07/01/57

$

1,478,175

720,000

(b) Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2025-5

.650

01/01/28

716,561

350,000

(b) Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2025-5

.700

07/01/28

346,974

815,000

(b) Florida Housing Finance Corporation, Homeowner Mortgage

Revenue Bonds, Series 2025-5

.750

01/01/29

809,570

5,090,000

Florida Municipal Power Agency, Power Supply Revenue

Bonds, All Requirements Project, Series 2025A

.000

10/01/29

5,577,124

1,035,000

Greater Orlando Aviation Authority, Florida, Airport Facilities

Revenue Bonds, Series 2019A, (AMT)

.000

10/01/25

1,035,000

2,600,000

Miami-Dade County, Florida, Seaport Revenue Bonds,

Refunding Series 2022A, (AMT)

.000

10/01/26

2,652,750

2,545,000

Orange County Health Facilities Authority, Florida, Hospital

Revenue Bonds, Advent Health Obligated Group, Series

2021C, (Mandatory Put 11/15/26)

.000

11/15/52

2,605,662

1,000,000

Palm Beach County School Board, Florida, Certificates of

Participation, Series 2025A

.000

08/01/30

1,114,031

350,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/28

375,415

365,000

Seminole County School District, Florida, Sales Tax Revenue

Bonds, Series 2025

.000

10/01/29

400,515

150,000

Seminole County, Florida, Water and Sewer Revenue Bonds,

Refunding Series 2025A

.000

10/01/29

164,655

TOTAL FLORIDA

17,276,432

GEORGIA - 3.1%

1,605,000

Atlanta, Georgia, Airport General Revenue Bonds, Green Series

2025B-1, (AMT)

.000

07/01/28

1,702,034

1,235,000

(b) Douglas County School District, Georgia, General Obligation

Bonds, Series 2025

.000

04/01/29

1,342,463

4,420,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2021A, (Mandatory Put 9/01/27)

.000

07/01/52

4,513,763

1,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023A

.000

06/01/26

1,011,428

1,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023A

.000

06/01/27

1,028,435

1,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023D

.000

12/01/26

1,020,869

250,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2025A

.000

12/01/26

255,564

500,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2025A

.000

12/01/27

520,598

1,660,000

Richmond County Board of Education, Georgia, General

Obligation Bonds, Sales Tax Series 2025

.000

10/01/28

1,786,522

805,000

Wayne County School District, Georgia, General Obligation

Sales Tax Bonds, Series 2023

.250

09/01/27

848,229

TOTAL GEORGIA

14,029,905

GUAM - 0.1%

500,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.000

01/01/29

529,039

TOTAL GUAM

529,039

HAWAII - 0.8%

2,080,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaii Pacific Health Obligated Group, Series

2023C

.000

07/01/28

2,210,870

25,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Series 2017A, (AMT)

.100

05/01/26

24,774

1,000,000

Maui County, Hawaii, General Obligation Bonds, Series 2025

.000

09/01/29

1,098,520

TOTAL HAWAII

3,334,164

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

IDAHO - 0.4%

$

270,000

Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, PAC Series 2025C

.125

%

07/01/28

$

271,285

725,000

Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, PAC Series 2025C

.200

01/01/29

729,529

590,000

Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, PAC Series 2025C

.300

07/01/29

594,749

TOTAL IDAHO

1,595,563

ILLINOIS - 5.8%

425,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2019A

.000

12/01/25

422,363

4,000,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Refunding Senior Lien Series 2024C

.000

01/01/27

4,108,084

1,000,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Second Lien Series 2016A

.000

01/01/26

1,005,080

3,000,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023C

.000

01/01/27

3,071,745

545,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2024A

.000

01/01/26

547,769

1,165,000

Cook County School District 78 Rosemont, Illinois, General

Obligation Bonds, Series 2020 - AGM Insured

.000

12/01/26

1,192,818

825,000

Cook County, Illinois, General Obligation Bonds, Refunding

Series 2021A

.000

11/15/25

827,262

1,000,000

Illinois Development Finance Authority, Solid Waste Disposal

Revenue Bonds, Waste Management Inc. Project, Series 2019,

(Mandatory Put 11/03/25)

.250

11/01/44

1,000,224

400,000

Illinois Finance Authority, Health Services Facility Lease

Revenue Bonds, Provident Group - UIC Surgery Center, LLC -

University of Illinois Health Services Facility Project, Series 2020

.000

10/01/25

400,000

565,000

Illinois State, General Obligation Bonds, November Series

2017C

.000

11/01/29

590,574

200,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/25

200,384

200,000

Illinois State, General Obligation Bonds, November Series

2017D

.250

11/01/26

200,934

1,980,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/26

2,028,946

870,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/27

910,138

940,000

Illinois State, General Obligation Bonds, November Series

2017D

.000

11/01/28

982,528

1,005,000

Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding

Junior Obligation March Series 2025A

.000

06/15/28

1,063,320

1,055,000

Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding

Junior Obligation March Series 2025A

.000

06/15/29

1,137,172

2,280,000

Illinois State, Sales Tax Revenue Bonds, Build Illinois, Refunding

Junior Obligation September Series 2021C

.000

06/15/27

2,363,554

500,000

University of Illinois, Health Services Facilities System Revenue

Bonds, Refunding Series 2023

.000

10/01/27

520,868

525,000

University of Illinois, Health Services Facilities System Revenue

Bonds, Refunding Series 2023

.000

10/01/28

556,402

1,010,000

(a) Will County Community Unit School District 201-U

Crete-Monee, Illinois, General Obligation Bonds, Capital

Appreciation Series 2005 - NPFG Insured, (ETM)

.000

11/01/25

1,007,347

1,085,000

Will County School District 86, Joliet, Illinois, General

Obligation Bonds, School Series 2023 - BAM Insured

.000

03/01/26

1,094,871

700,000

Will County School District 86, Joliet, Illinois, General

Obligation Bonds, School Series 2023 - BAM Insured

.000

03/01/28

736,386

TOTAL ILLINOIS

25,968,769

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

INDIANA - 1.6%

$

500,000

Avon Community School Building Corporation, Hendricks

County, Indiana, First Mortgage Bonds, Ad Valorem Property

Tax Series 2023

.000

%

07/15/26

$

509,178

510,000

Avon Community School Building Corporation, Hendricks

County, Indiana, First Mortgage Bonds, Ad Valorem Property

Tax Series 2023

.000

07/15/27

530,976

505,000

Avon Community School Building Corporation, Hendricks

County, Indiana, First Mortgage Bonds, Ad Valorem Property

Tax Series 2023

.000

01/15/28

531,973

1,430,000

Crown Point Multi-School Building Corporation, Indiana, First

Mortgage Bonds, Crown Point Community School Corporation,

Series 2021

.000

01/15/26

1,439,447

500,000

Indiana Finance Authority, Environmental Facilities Revenue

Bonds, Indianapolis Power & Light Company Project, Refunding

Series 2020A, (AMT), (Mandatory Put 4/01/26)

.950

12/01/38

493,435

1,000,000

Indiana Finance Authority, Hospital Revenue Bonds, Indiana

University Health Series 2025D-1, (Mandatory Put 10/01/29)

.000

10/01/64

1,078,968

700,000

Indiana Finance Authority, Hospital Revenue Bonds, Marion

General Hospital Project, Series 2021A

.000

07/01/26

709,504

405,000

Mount Vernon of Hancock County Multi-School Building

Corporation, Indiana, First Mortgage Bonds, Series 2022

.000

01/15/27

416,872

1,000,000

Mount Vernon, Indiana, Environmental Improvement Revenue

Bonds, Southern Indiana Gas and Electric Company Project,

Series 2015, (AMT), (Mandatory Put 9/01/28)

.250

09/01/55

1,017,727

500,000

Rockport, Indiana, Pollution Control Revenue Refunding Bonds,

Indiana Michigan Power Company Project, Series 2025A,

(Mandatory Put 6/01/29)

.700

06/01/47

513,486

TOTAL INDIANA

7,241,566

KANSAS - 1.1%

1,295,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/28

1,390,664

545,000

Kansas Department of Transportation, Highway Revenue

Bonds, Refunding Series 2025A

.000

09/01/29

598,265

650,000

Manhattan, Kansas, General Obligation Bonds, Temporary

Notes, Series 2024-02 - BAM Insured

.000

06/15/28

658,584

1,000,000

Olathe, Kansas, General Obligation Bonds, Temporary Notes

Series 2025A

.000

09/01/26

1,020,479

1,060,000

Wyandotte County-Kansas City Unified Government, Kansas,

Utility System Revenue Bonds, Improvement Series 2016A

.000

09/01/26

1,062,172

TOTAL KANSAS

4,730,164

KENTUCKY - 2.1%

775,000

Kentucky Asset/Liability Commission, General Fund Revenue

Project Notes, Federal Highway Trust Fund, First Refunding

Series 2024A

.000

09/01/26

791,353

560,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 128, Series 2023A

.000

11/01/27

589,532

1,115,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 130, Series 2024B

.000

11/01/25

1,116,994

455,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 132, Refunding Series 2025B

.000

04/01/30

503,464

200,000

Owen County, Kentucky, Waterworks System Revenue Bonds,

Kentucky-American Water Company Project, Refunding Series

2019A, (Mandatory Put 10/01/29)

.450

06/01/39

194,539

1,000,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2024B

.000

08/01/28

1,046,881

360,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2024B, (Mandatory Put 8/01/32)

.000

01/01/55

390,271

3,500,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2019C-1, (Mandatory Put 2/01/28)

.000

02/01/50

3,579,832

140,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2020A, (Mandatory Put 6/01/26)

.000

12/01/50

141,061

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

KENTUCKY

(continued)

$

1,000,000

Trimble County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project Series 2023A,

(AMT), (Mandatory Put 6/01/27)

.700

%

06/01/54

$

1,010,868

TOTAL KENTUCKY

9,364,795

LOUISIANA - 2.1%

3,250,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Insurance

Assessment Revenue Bonds, Louisiana Insurance Guaranty

Association Project, Series 2022B

.000

08/15/26

3,315,008

3,000,000

Louisiana State, Gasoline and Fuels Tax Revenue Bonds,

Refunding Series 2025B

.000

05/01/29

3,260,978

1,490,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017A-1,

(Mandatory Put 7/01/26)

.050

06/01/37

1,503,098

1,370,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017C,

(Mandatory Put 7/03/28)

.300

06/01/37

1,387,926

TOTAL LOUISIANA

9,467,010

MARYLAND - 0.2%

1,000,000

Baltimore County, Maryland, General Obligation Bonds,

Consolidated Public Improvement, Series 2024

.000

02/01/27

1,034,904

TOTAL MARYLAND

1,034,904

MASSACHUSETTS - 2.5%

385,000

Boston, Massachusetts, General Obligation Bonds, Series

2025A

.000

02/01/29

421,186

1,950,000

Massachusetts Educational Financing Authority, Education

Loan Revenue Bonds, Issue M, Senior Series 2021B, (AMT)

.000

07/01/27

2,007,068

540,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2023A-3

.050

12/01/27

542,373

750,000

Massachusetts Housing Finance Agency, Multifamily Housing

Bonds, Green Sustainability Series 2024B3

.400

12/01/27

753,539

5,000,000

Massachusetts Port Authority, Revenue Bonds, Series 2019A,

(AMT)

.000

07/01/26

5,073,109

2,000,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/29

2,172,369

TOTAL MASSACHUSETTS

10,969,644

MICHIGAN - 2.2%

635,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2024A

.700

04/01/30

636,269

850,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2025A-1

.875

04/01/28

849,060

1,920,000

Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2025A

.350

12/01/28

1,946,191

3,110,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2025I

.000

04/15/29

3,382,915

3,065,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

Consumers Energy Company Project, Series 2019, (AMT),

(Mandatory Put 10/01/27)

.350

10/01/49

3,049,253

TOTAL MICHIGAN

9,863,688

MINNESOTA - 3.4%

690,000

Becker Independent School District 726, Minnesota, General

Obligation Bonds, School Building Series 2022A

.000

02/01/26

682,971

1,130,000

Eastern Carver County Independent School District 112,

Minnesota, General Obligation Bonds, Facilities Maintenance

Series 2025A

.000

02/01/28

1,197,295

900,000

Forest Lake, Minnesota, Charter School Lease Revenue Bonds,

Lakes International Language Academy, Series 2019A

.375

08/01/29

912,125

420,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Yinghua Academy Project, Series 2013A

.000

07/01/33

420,451

1,060,000

Minneapolis, Minnesota, Health Care System Revenue Bonds,

Allina Health System, Series 2023A, (Mandatory Put 11/15/28)

.000

11/15/52

1,119,985

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA

(continued)

$

1,315,000

Minneapolis-Saint Paul Housing and Redevelopment Authority,

Minnesota, Health Care System Revenue Bonds, Allina Health

System, Refunding Series 2017A

.000

%

11/15/25

$

1,318,196

1,000,000

Minneapolis-St. Paul Metropolitan Airports Commission,

Minnesota, Airport Revenue Bonds, Refunding Senior Lien

Series 2016A

.000

01/01/26

1,006,117

2,015,000

Minneapolis-St. Paul Metropolitan Airports Commission,

Minnesota, Airport Revenue Bonds, Refunding Subordinate

Lien Series 2019B, (AMT)

.000

01/01/26

2,025,644

275,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Social Series 2025F

.700

07/01/28

279,726

285,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Social Series 2025F

.800

01/01/29

290,795

265,000

Minnesota Housing Finance Agency, Residential Housing

Finance Bonds, Social Series 2025F

.850

07/01/29

271,312

750,000

Moorhead, Minnesota, General Obligation Bonds,

Improvement Series 2022A

.000

02/01/26

756,052

250,000

Mountain Lake, Minnesota, General Obligation Bonds, Series

2021A

.000

12/15/25

249,340

425,000

New London Economic Development Authority, Minnesota,

Lease Revenue Bonds, SWWC Service Cooperative Lease With

Option to Purchase Project, Public Series 2023

.000

02/01/26

426,780

500,000

Northern Municipal Power Agency, Minnesota, Electric System

Revenue Bonds, Refunding Series 2016

.000

01/01/26

502,654

2,030,000

Saint Cloud, Minnesota, Health Care Revenue Bonds,

CentraCare Health System, Series 2016A

.000

05/01/27

2,056,686

95,000

Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Nova Classical

Academy, Refunding Series 2021A

.000

09/01/26

93,119

175,000

Saint Paul Housing and Redevelopment Authority, Minnesota,

Health Care Revenue Bonds, Fairview Health Services, Series

2017A

.000

11/15/27

181,739

300,000

Shakopee Independent School District 720, Scott County,

Minnesota, Certificates of Participation, Series 2021B

.000

02/01/26

300,823

1,225,000

Southern Minnesota Municipal Power Agency, Power Supply

System Revenue Bonds, Series 1994A - NPFG Insured

.000

01/01/26

1,214,655

TOTAL MINNESOTA

15,306,465

MISSISSIPPI - 0.6%

1,075,000

Mississippi Development Bank, Special Obligation Bonds,

Mississippi Highway Refunding Project, Refunding Series

2024A

.000

01/01/28

1,134,132

1,410,000

Mississippi Development Bank, Special Obligation Bonds,

Municipal Energy Agency of Mississippi, Power Supply Project,

Refunding Series 2015A - AGM Insured

.000

03/01/28

1,421,469

265,000

Warren County, Mississippi, Gulf Opportunity Zone Revenue

Bonds, International Paper Company Project, Refunding Series

20218

.000

09/01/32

272,354

TOTAL MISSISSIPPI

2,827,955

MISSOURI - 2.3%

1,000,000

Kansas City Planned Industrial Expansion Authority, Missouri,

Multifamily Housing Revenue Bonds, The Depot on Old Santa

Fe Series 2023, (Mandatory Put 7/01/27)

.000

07/01/45

1,025,145

160,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Refunding Series 1998A

.900

09/01/33

148,235

1,000,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998B

.900

09/01/33

926,471

2,595,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Series 2021B,

(Mandatory Put 5/01/26)

.000

05/01/51

2,613,949

250,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Lake Regional Health System, Series 2021

.000

02/15/26

250,905

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MISSOURI

(continued)

$

285,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024E

.200

%

11/01/26

$

285,634

525,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024E

.250

05/01/27

528,389

300,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program Series 2024E

.300

11/01/27

302,955

500,000

Missouri Joint Municipal Electric Utility Commission, Power

Supply System Revenue Bonds, Gree Bonds, MoPEP Facilities,

Series 2022

.000

12/01/26

513,975

630,000

Saint Louis County Industrial Development Authority, Missouri,

Health Facilities Revenue Bonds, Ranken-Jordan Project,

Refunding & Improvement Series 2016

.000

11/15/26

630,619

1,170,000

Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis

International Airport, Refunding Series 2022, (AMT)

.000

07/01/26

1,187,544

1,630,000

Springfield, Missouri, Special Obligation Bonds, Refunding

Series 2017B, (AMT)

.000

07/01/26

1,655,661

TOTAL MISSOURI

10,069,482

MONTANA - 0.2%

365,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2025A

.200

06/01/29

371,200

370,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2025A

.250

12/01/29

377,283

TOTAL MONTANA

748,483

NEBRASKA - 0.9%

175,000

Douglas County Hospital Authority 2, Nebraska, Health

Facilities Revenue Bonds, Children's Hospital Obligated Group,

Refunding Series 2020A

.000

11/15/25

175,395

2,710,000

Metropolitan Utilities District of Omaha, Nebraska, Gas System

Revenue Bonds, Series 2023

.000

12/01/26

2,790,809

1,255,000

Sarpy County School District 037 Gretna Public Schools,

Nebraska, General Obligation Bonds, Series 2022B

.000

12/15/27

1,259,788

TOTAL NEBRASKA

4,225,992

NEVADA - 0.3%

1,360,000

Clark County School District, Nevada, General Obligation

Bonds, Limited Tax Building Series 2018B - AGM Insured

.000

06/15/27

1,420,396

TOTAL NEVADA

1,420,396

NEW HAMPSHIRE - 0.4%

1,190,000

New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Dartmouth College, Series 2015B, (Mandatory

Put 8/03/27)

.300

06/01/40

1,197,125

500,000

New Hampshire Housing Finance Authority, Multi-Family

Housing Revenue Bonds, Series 2024-2

.150

07/01/27

501,509

TOTAL NEW HAMPSHIRE

1,698,634

NEW JERSEY - 0.8%

515,000

New Jersey Economic Development Authority, Water Facilities

Revenue Bonds, New Jersey-American Water Company

Inc. Project, Refunding Series 2020B, (AMT), (Mandatory Put

6/01/28)

.750

11/01/34

519,607

600,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Refunding Senior Series 2022A,

(AMT)

.000

12/01/25

601,447

1,275,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Refunding Series 2023A, (AMT)

.000

12/01/26

1,298,667

1,185,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2021A

.000

06/15/26

1,204,401

TOTAL NEW JERSEY

3,624,122

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW MEXICO - 0.2%

$

775,000

Albuquerque Municipal School District 12, Bernalillo and

Sandoval Counties, New Mexico, General Obligation Bonds,

Refunding Series 2025B

.000

%

08/01/28

$

830,668

TOTAL NEW MEXICO

830,668

NEW YORK - 4.2%

500,000

Dormitory Authority of the State of New York, Revenue Bonds,

School Districts Financing Program, Series 2025A

.000

10/01/28

538,862

1,000,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Refunding Series 2025B

.000

11/15/27

1,049,017

1,300,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2025B-2, (Mandatory Put 7/02/29)

.950

11/01/64

1,333,851

2,625,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2021 Subseries F-1

.000

11/01/27

2,766,724

1,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2025 Subseries Series

.000

11/01/27

1,053,990

1,875,000

New York City, New York, General Obligation Bonds, Fiscal

2023 Series 1

.000

08/01/26

1,914,149

1,370,000

New York City, New York, General Obligation Bonds, Fiscal

2025 Series A

.000

08/01/27

1,435,116

1,200,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Sustainability Green Series 2025B-2,

(Mandatory Put 5/01/29)

.600

11/01/64

1,212,999

1,000,000

New York State Power Authority, Green Transmission Project

Revenue Bonds, Green Series 2023A - AGM Insured

.000

11/15/27

1,059,450

1,000,000

New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Series 2025A

.000

03/15/29

1,088,918

2,895,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Forty Second Series 2023,

(AMT)

.000

12/01/26

2,964,463

2,000,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, MTA Bridges and Tunnels, Bond

Anticipation Notes Series 2025A

.000

03/01/28

2,118,888

TOTAL NEW YORK

18,536,427

NORTH CAROLINA - 2.0%

2,040,000

North Carolina Housing Finance Agency, Home Ownership

Revenue Bonds, 1998 Trust Agreement Series 55C, (Mandatory

Put 1/15/26)

.200

07/01/56

2,040,113

2,015,000

North Carolina Medical Care Commission, Hospital Revenue

Bonds, CaroMont Health A/K/A Gaston Health, Series 2021A,

(Mandatory Put 2/01/26)

.000

02/01/51

2,029,028

2,000,000

North Carolina State, Federal Grant Anticipation Revenue

Bonds, Refunding Vehicle Series 2025

.000

03/01/28

2,123,732

1,000,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Refunding Senior Lien Series 2017 - AGM

Insured

.000

01/01/26

1,005,333

1,700,000

North Carolina Turnpike Authority, Triangle Expressway System

Revenue Bonds, Refunding Senior Lien Series 2017 - AGM

Insured

.000

01/01/27

1,749,115

TOTAL NORTH CAROLINA

8,947,321

NORTH DAKOTA - 0.5%

350,000

Cass County Joint Water Reserve District, North Dakota,

Temporary Improvement Special Assessment Bonds,

Refunding Series 2024A

.450

04/01/27

350,239

215,000

Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2021

.000

12/01/25

215,276

450,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/26

454,667

475,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/27

488,690

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NORTH DAKOTA

(continued)

$

480,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

%

05/01/28

$

500,993

TOTAL NORTH DAKOTA

2,009,865

OHIO - 2.1%

1,440,000

Akron, Bath and Copley Joint Township Hospital District, Ohio,

Hospital Revenue Bonds, Children's Hospital Medical Center,

Refunding Series 2022A

.000

11/15/25

1,443,840

1,000,000

Cleveland, Ohio, Airport System Revenue Bonds, Series 2018A,

(AMT)

.000

01/01/27

1,024,535

265,000

Cleveland-Cuyahoga County Port Authroity, Ohio, Cultural

Facility Revenue Bonds, The Cleveland Museum of Natural

History Project, Series 2021

.000

07/01/26

269,172

1,070,000

Dublin, Ohio, General Obligation Bonds, Limited Tax

Refunding Various Purpose Improvement Series 2025

.000

12/01/29

1,184,750

1,165,000

(d) Jefferson County Port Authority, Ohio, Economic Development

Revenue Bonds, JSW Steel USA Ohio, Inc. Project, Series 2023,

(AMT), (Mandatory Put 12/01/28)

.000

12/01/53

1,178,673

500,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2005A, (AMT)

.750

01/01/29

501,634

1,430,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2014C, (AMT)

.650

12/01/27

1,432,671

1,125,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, Dayton Power & Light Company Project, Refunding

Collateralized Series 2015A, (AMT), (Mandatory Put 6/01/27)

.250

11/01/40

1,150,587

1,000,000

Upper Arlington, Ohio, General Obligation Bonds, Various

Purpose Limited Tax Refunding Series 2025

.000

12/01/28

1,081,492

TOTAL OHIO

9,267,354

OKLAHOMA - 0.7%

1,475,000

Cleveland County Educational Facilities Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Norman Public

Schools Project, Series 2023C

.000

06/01/28

1,562,762

750,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/27

779,877

250,000

Lawton Industrial Development Authority, Oklahoma, Sales Tax

Revenue Bonds, Refunding Series 2025A

.000

07/01/28

265,183

605,000

Payne County Economic Development Authority, Oklahoma,

Educational Facilities Lease Revenue Bonds, Stillwater Public

Schools Project, Series 2024 - BAM Insured

.000

09/01/26

616,936

TOTAL OKLAHOMA

3,224,758

OREGON - 1.8%

1,000,000

Chemeketa Community College District, Oregon, General

Obligation Bonds, Series 2025B

.000

06/15/28

1,068,977

1,500,000

Mount Hood Community College District, Oregon, General

Obligation Bonds, Series 2025

.000

06/15/29

1,640,232

300,000

Oregon Facilities Authority, Revenue Bonds, Samaritan Health

Services, Refunding Series 2016A

.000

10/01/25

300,000

1,005,000

Salem-Keizer School District 24J, Marion and Polk Counties,

Oregon, General Obligation Bonds, Series 2009B

.000

06/15/27

959,952

4,050,000

Washington Multnomah & Yamhill Counties School District 1J

Hillsboro, Oregon, General Obligation Bonds, Series 2017

.000

06/15/26

4,119,168

TOTAL OREGON

8,088,329

PENNSYLVANIA - 2.0%

1,600,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2021A,

(AMT)

.000

01/01/26

1,608,452

1,685,000

Montgomery County, Pennsylvania, General Obligation Bonds,

Series 2025A

.000

03/01/28

1,790,471

1,000,000

(b) North Allegheny School District, Allegheny County,

Pennsylvania, General Obligation Bonds, Series 2025

.000

05/01/28

1,065,249

1,140,000

Pennsylvania State, General Obligation Bonds, First Refunding

Series 2025A

.000

08/15/29

1,247,562

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

525,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Series 2022B

.000

%

12/01/25

$

526,932

1,000,000

Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding

Series 2025B, (AMT)

.000

07/01/28

1,055,013

1,390,000

University of Pittsburgh of the Commonwealth System of

Higher Education, Pennsylvania, Pitt Asset Notes, Series 2023

.000

02/15/29

1,502,065

TOTAL PENNSYLVANIA

8,795,744

PUERTO RICO - 1.7%

1,240,000

(a) Puerto Rico Industrial, Tourist, Educational, Medical and

Environmental Control Facilities Financing Authority, Hospital

Revenue Bonds, Hospital de la Concepcion, Series 2017A, (Pre-

refunded 11/15/26)

.550

11/15/30

1,248,922

352,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/27

332,974

384,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/29

340,082

68,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/31

55,718

4,339,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/27

4,492,402

860,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/29

920,367

TOTAL PUERTO RICO

7,390,465

SOUTH CAROLINA - 0.2%

1,000,000

South Carolina Association of Governmental Organizations,

Educational Facilities Corporation for Pickens School District,

Installment Purchase Revenue Bonds, Pickens County,

Refunding Series 2025

.000

12/01/28

1,075,597

TOTAL SOUTH CAROLINA

1,075,597

SOUTH DAKOTA - 0.1%

410,000

South Dakota Housing Development Authority,

Homeownership Mortgage Revenue Bonds, Series 2024C

.300

11/01/29

417,466

TOTAL SOUTH DAKOTA

417,466

TENNESSEE - 1.0%

100,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Revenue Bonds, CommonSpirit Health, Series

2019A-1

.000

08/01/28

105,941

1,000,000

Metropolitan Government of Nashville and Davidson County

Sports Authority, Tennessee, Revenue Bonds, Stadium Project,

Subordinate Senior Series 2023A - AGM Insured

.000

07/01/28

1,064,837

260,000

Metropolitan Nashville Airport Authority, Tennessee, Airport

Improvement Revenue Bonds, Series 2022B, (AMT)

.000

07/01/26

263,996

885,000

Metropolitan Nashville Airport Authority, Tennessee, Airport

Revenue Bonds, Improvement Series 2015B, (AMT)

.000

07/01/26

886,445

2,000,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006B

.625

09/01/26

2,032,102

TOTAL TENNESSEE

4,353,321

TEXAS - 14.8%

1,000,000

Austin, Texas, Airport System Revenue Bonds, Series 2019B,

(AMT)

.000

11/15/25

1,002,493

1,250,000

Austin, Texas, Airport System Revenue Bonds, Series 2019B,

(AMT)

.000

11/15/27

1,305,996

645,000

Bexar County Hospital District, Texas, Certificates of Obligation,

Series 2023

.000

02/15/26

650,455

400,000

Bexar County Hospital District, Texas, Certificates of Obligation,

Series 2023

.000

02/15/27

413,069

4,715,000

Board of Regents of the University of Texas System, Revenue

Financing System Bonds, Series 2025A

.000

08/15/28

5,058,169

545,000

Central Texas Regional Mobility Authority, Revenue Bonds,

Anticipation Notes Subordinate Lien Series 2021C

.000

01/01/27

547,610

555,000

Chapel Hill Independent School District, Smith County, Texas,

General Obligation Bonds, School Building Series 2023

.000

02/15/26

559,818

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,560,000

Collin County, Texas, General Obligation Bonds, Refunding

Limited Tax Permanent Improvement, Tax Notes Series 2025

.000

%

02/15/29

$

1,687,591

1,295,000

Cypress-Fairbanks Independent School District, Harris County,

Texas, General Obligation Bonds, Refunding Series 2025

.000

02/15/29

1,404,416

1,200,000

(b) Dallas Fort Worth International Airport, Texas, Joint Revenue

Bonds, Refunding & Improvement Series 2025A-1, (AMT)

.000

11/01/28

1,273,198

1,245,000

Dallas, Texas, General Obligation Bonds, Refunding and

Improvement Series 2024B

.000

02/15/27

1,286,533

1,000,000

Denton, Texas, Certificates of Obligation, Series 2025

.000

02/15/30

1,101,995

1,585,000

Dickinson Independent School District, Galveston County,

Texas, General Obligation Bonds, Refunding Series 2023A

.000

02/15/27

1,641,797

1,420,000

Fort Bend County, Texas, General Obligation Bonds, Tax Road

Series 2024

.000

03/01/27

1,469,571

600,000

Frisco Independent School District, Collin and Denton

Counties, Texas, General Obligation Bonds, Refunding Series

2025A

.000

02/15/30

662,768

1,000,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/27

1,034,183

1,000,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/28

1,059,805

1,000,000

Frisco, Collin and Denton Counties, Texas, General Obligation

Bonds, Refunding & Improvement Series 2025

.000

02/15/29

1,082,126

500,000

Grand Prairie, Texas, Combination Tax and Revenue Certificates

of Obligation, Series 2024

.000

02/15/27

517,092

500,000

Grand Prairie, Texas, Combination Tax and Revenue Certificates

of Obligation, Series 2024

.000

02/15/28

529,071

2,055,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2019A

.000

12/01/25

2,062,388

5,675,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2019B-3, (Mandatory Put

12/01/26)

.000

07/01/49

5,824,356

1,450,000

Harris County Flood Control District, Texas, Contract Tax Bonds,

Refunding Series 2025A

.000

09/15/29

1,589,024

1,820,000

Harris County, Texas, General Obligation Bonds, Refunding

Road Series 2025A

.000

09/15/29

1,995,940

585,000

Harris County, Texas, Road Revenue Bonds, Refunding, Series

2024A

.000

09/15/27

614,310

3,630,000

Houston, Texas, Airport System Revenue Bonds, Refunding &

Subordinate Lien Series 2018C, (AMT)

.000

07/01/26

3,689,048

1,195,000

Houston, Texas, General Obligation Bonds, Refunding Public

Improvement Series 2016A

.000

03/01/27

1,206,691

525,000

Hunt Memorial Hospital District, Hunt County, Texas, General

Obligation Bonds, Refunding & Improvment Series 2020

.000

02/15/26

528,226

1,000,000

Irving, Dallas County, Texas, General Obligation Bonds, Series

2024

.000

09/15/28

1,074,529

1,125,000

Katy Independent School District, Harris, Fort Bend and Waller

Counties, Texas, General Obligation Bonds, School Building

Series 2025

.000

02/15/28

1,192,013

1,220,000

Klein Independent School District, Harris County, Texas,

General Obligation Bonds, Refunding Schoolhouse Series

2025

.000

08/01/29

1,335,422

1,000,000

Lake Dallas Independent School District, Denton County, Texas,

General Obligation Bonds, Refunding Series 2025

.000

08/15/29

1,092,803

460,000

Lewisville Independent School District, Denton and Tarrant

Counties, Texas, General Obligation Bonds, School Building

Series 2025

.000

08/15/28

494,409

1,230,000

McKinney Independent School District, Collin County, Texas,

General Obligation Bonds, Refunding & School Building Series

2021

.000

02/15/27

1,271,201

2,235,000

Midlothian Independent School District, Ellis County, Texas,

General Obligation Bonds, School Building Series 2020

.000

02/15/26

2,255,241

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

100,000

Mission Economic Development Corporation, Texas,

Solid Waste Disposal Revenue Bonds, Graphic Packaging

International, LLC Project, Green Series 2025, (AMT),

(Mandatory Put 6/01/30)

.000

%

12/01/64

$

103,639

605,000

(c) Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Republic Services Inc.

Project, Adjustable Rate Series 2020A, (AMT), (Mandatory Put

11/03/25)

.850

05/01/50

604,928

1,250,000

Mission Economic Development Corporation, Texas, Solid

Waste Disposal Revenue Bonds, Waste Management Inc.

Project, Series 2023A, (AMT), (Mandatory Put 7/01/27)

.250

06/01/48

1,257,480

2,735,000

North East Independent School District, Bexar County, Texas,

General Obligation Bonds, Refunding Series 2025

.000

08/01/29

2,993,754

1,905,000

North Texas Tollway Authority, System Revenue Bonds,

Refunding First Tier Series 2023A

.000

01/01/27

1,964,801

1,330,000

Plano Independent School District, Collin County, Texas,

General Obligation Bonds, School Building Series 2025

.000

02/15/28

1,408,908

315,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.875

01/01/26

313,160

1,055,000

San Antonio, Texas, General Obligation Bonds, Tax Notes

Series 2024

.000

02/01/27

1,090,554

1,500,000

Spring Branch Independent School District, Harris County,

Texas, General Obligation Bonds, Refunding School Building

Series 2025

.000

02/01/29

1,622,337

555,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Scott & White

Healthcare Project, Series 2022E, (Mandatory Put 5/15/26)

.000

11/15/52

559,809

1,020,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Texas Health Resources

System, Series 2025B, (Mandatory Put 11/15/29)

.000

11/15/64

1,102,400

545,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Refunding Series 2025D

.950

07/01/28

544,522

565,000

Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Refunding Series 2025D

.000

01/01/29

564,708

1,055,000

Texas Transportation Commission, Central Texas Turnpike

System Revenue Bonds, Refunding Second Tier Series 2024C

.000

08/15/31

1,183,702

TOTAL TEXAS

65,828,059

UTAH - 0.5%

500,000

Alpine School District Local Building Authority, Utah County,

Utah, Lease Revenue Bonds, Series 2025

.000

03/15/29

543,938

1,405,000

Utah Transit Authority, Sales Tax Revenue Bonds, Refunding

Series 2025

.000

12/15/28

1,521,738

TOTAL UTAH

2,065,676

VIRGIN ISLANDS - 0.6%

1,000,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/25

1,000,000

1,645,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/26

1,657,970

TOTAL VIRGIN ISLANDS

2,657,970

VIRGINIA - 1.4%

3,220,000

Hampton Roads Transportation Accountability Commission,

Virginia, Revenue Bonds, Hampton Roads Transportation Fund,

Intermediate Lien Bond Anticipation Notes Series 2023A

.000

07/01/27

3,363,487

260,000

(b) Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2024F-3

.650

01/01/28

259,157

265,000

(b) Virginia Housing Development Authority, Commonwealth

Mortgage Bonds, Series 2024F-3

.700

07/01/28

263,940

1,500,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2024H

.600

12/01/28

1,500,936

500,000

Virginia Housing Development Authority, Rental Housing

Bonds, Series 2025A

.250

09/01/29

501,713

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VIRGINIA

(continued)

$

500,000

Virginia Small Business Financing Authority, Environmental

Facilities Revenue Bonds (Pure Salmon Virginia LLC Project),

Escrow Refinancing Series 2022, (AMT), (Mandatory Put

11/20/25)

.000

%

11/01/52

$

500,295

TOTAL VIRGINIA

6,389,528

WASHINGTON - 4.0%

2,525,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2015C, (AMT)

.000

04/01/26

2,527,774

1,550,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2018A, (AMT)

.000

05/01/27

1,599,998

5,485,000

Washington Health Care Facilities Authority, Revenue Bonds,

CommonSpirit Health, Series 2019B-3, (Mandatory Put

8/01/26)

.000

08/01/49

5,510,161

770,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Series 2018B

.000

10/01/25

770,000

5,040,000

Washington State, General Obligation Bonds, Various Purpose

Refunding Series 2025B

.000

07/01/28

5,398,712

1,780,000

Washington State, General Obligation Bonds, Various Purpose

Refunding Series 2025B

.000

07/01/29

1,948,292

TOTAL WASHINGTON

17,754,937

WEST VIRGINIA - 0.3%

570,000

West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Appalachian Power

Company - Amos Project, Series 2009A, (Mandatory Put

6/01/28)

.700

12/01/42

584,048

400,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2024D

.000

11/01/27

420,510

500,000

West Virginia Housing Development Fund, Housing Finance

Revenue Bonds, Social Series 2024D

.000

11/01/28

536,793

TOTAL WEST VIRGINIA

1,541,351

WISCONSIN - 2.5%

1,250,000

Kenosha, Wisconsin, General Obligation Promissory Notes

Series 2021B

.000

10/01/25

1,250,000

400,000

Public Finance Authority of Wisconsin, Health Care Facilities

Revenue Bonds, Blue Ridge HealthCare, Refunding Series

2020A

.000

01/01/26

402,042

300,000

Public Finance Authority of Wisconsin, Hospital Revenue

Bonds, Carson Valley Medical Center, Series 2021A

.000

12/01/26

292,773

325,000

Public Finance Authority of Wisconsin, Hospital Revenue

Bonds, Renown Regional Medical Center Project, Series 2020A

.000

06/01/26

329,642

1,590,000

Public Finance Authority of Wisconsin, Pollution Control

Revenue Bonds, Duke Energy Progress Project, Refunding

Series 2022A-2, (Mandatory Put 10/01/26)

.300

10/01/46

1,594,563

1,300,000

Racine, Racine County, Wisconsin, General Obligation Bonds,

Promissory Notes Series 2025

.500

03/15/27

1,309,899

1,000,000

University of Wisconsin Hospitals and Clinics Authority,

Revenue Bonds, Sustainability Series 2024A

.000

04/01/27

1,036,920

1,360,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Mercy Alliance, Inc., Series 2012

.000

06/01/27

1,364,198

435,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, PHW Muskego, Inc. Project, Series 2021

.000

10/01/25

435,000

455,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, PHW Muskego, Inc. Project, Series 2021

.000

10/01/26

457,436

250,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Agnesian HealthCare, Inc., Series

2017

.000

07/01/26

253,656

460,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, PHM / New Richmond Senior

Housing, Inc., Refunding Series 2021

.250

07/01/26

450,168

2,030,000

Wisconsin State, General Obligation Bonds, Refunding Series

2024-2

.000

05/01/28

2,168,164

TOTAL WISCONSIN

11,344,461

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Term

See Notes To Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WYOMING - 0.1%

$

500,000

Consolidated Wyoming Municipalities Electric Power System

Joint Powers Board, Wyoming, Electric Facilities Improvement

Lease Revenue Bonds, Gillette Electrical System Project,

Refunding Series 2022

.000

%

06/01/26

$

507,441

TOTAL WYOMING

507,441

TOTAL MUNICIPAL BONDS

(Cost $443,344,906)

446,647,670

TOTAL LONG-TERM INVESTMENTS

(Cost $443,344,906)

446,647,670

OTHER ASSETS & LIABILITIES, NET - (0.1)%

(584,128)

NET ASSETS - 100%

$

446,063,542

AMT

Alternative Minimum Tax

ETM

Escrowed to maturity

(a) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely

payment of principal and interest.

(b) When-issued or delayed delivery security.

(c) Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of

the security. Coupon rate reflects the rate at period end.

(d) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the reporting period, the aggregate value of these securities is $4,874,072 or 1.1% of Total Investments.

Statement of Assets and Liabilities

See Notes to Financial Statements

September 30, 2025 (Unaudited)

All-American

Intermediate

Duration

Limited Term

Short Term

ASSETS

Long-term investments, at value

†

$

3,774,212,409

$

8,026,408,079

$

4,598,356,078

$

446,647,670

Affiliated investments, at value

++

17,451,000

8,725,500

–

–

Short-term investments, at value

◊

–

110,029,747

–

–

Cash

52,799,366

16,020,323

7,972,387

884,986

Receivables:

Interest

48,320,830

93,621,748

51,428,193

5,363,385

Investments sold

34,479,938

71,823,537

77,126,532

2,656,556

Reimbursement from Adviser

4,126

2,063

–

26,825

Shares sold

3,135,800

7,177,601

3,386,961

4,006,810

Sale of Vistra Vision interest

#

(1) 25,686,386

95,196,271

100,479,320

791,146

Other

358,207

506,156

355,014

78,977

Total assets

3,956,448,062

8,429,511,025

4,839,104,485

460,456,355

LIABILITIES

Borrowings

13,130,119

8,086,737

5,752,672

–

Floating rate obligations

122,385,000

–

–

–

Payables:

Management fees

1,219,906

2,563,556

1,349,589

142,076

Dividends

2,046,130

5,418,333

1,905,636

167,637

Interest

2,135,523

25,498

17,697

1,475

Investments purchased - regular settlement

28,027,540

17,157,489

10,761,100

2,152,220

Investments purchased - when-issued/delayed-delivery settlement

51,722,919

137,180,199

77,492,234

9,668,639

Shares redeemed

9,542,258

14,456,475

6,005,372

2,040,166

Vistra Vision sale transactions costs

(1) 624,441

2,314,239

2,442,671

19,233

Accrued expenses:

Custodian fees

269,655

392,226

312,199

48,204

Directors/Trustees fees

321,116

489,478

342,743

35,039

Professional fees

34,121

27,318

27,221

19,777

Shareholder reporting expenses

71,713

96,997

120,614

27,548

Shareholder servicing agent fees

317,843

718,433

706,115

32,005

12b-1 distribution and service fees

359,948

136,919

141,601

35,723

Other

8,445

12,366

9,484

3,071

Total liabilities

232,216,677

189,076,263

107,386,948

14,392,813

Commitments and contingencies

(2) Net assets

$

3,724,231,385

$

8,240,434,762

$

4,731,717,537

$

446,063,542

NET ASSETS CONSIST OF:

Paid-in capital

$

4,809,194,180

$

8,628,410,328

$

4,876,054,082

$

460,144,918

Total distributable earnings (loss)

(1,084,962,795)

(387,975,566)

(144,336,545)

(14,081,376)

Net assets

$

3,724,231,385

$

8,240,434,762

$

4,731,717,537

$

446,063,542

†

&nbsp;&nbsp;&nbsp;&nbsp;Long-term investments, cost

$

3,781,557,444

$

8,255,621,480

$

4,666,010,231

$

443,344,906

++

&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investments, cost

$

17,677,750

$

8,602,500

$

—

$

—

◊

&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments, cost

$

—

$

110,030,000

$

—

$

—

#

&nbsp;&nbsp;&nbsp;&nbsp;Net of discount of

$

1,132,612

$

4,197,574

$

4,430,523

$

34,884

(1) Refer to Note 4 of the Notes to Financial Statements for more information.

(2) As disclosed in Notes to Financial Statements.

#### Statement of Assets and Liabilities
(continued)

See Notes to Financial Statements

All-American

Intermediate

Duration

Limited Term

Short Term

CLASS A:

Net assets

$

1,750,194,448

$

706,636,764

$

771,856,442

$

196,316,725

Shares outstanding

176,368,444

79,967,872

70,090,792

19,868,913

Net asset value ("NAV") per share

$

9.92 $

8.84 $

11.01 $

9.88 Maximum sales charge

4.20%

3.00%

2.50%

2.50%

Offering price per share (NAV per share plus maximum sales charge)

$

10.35 $

9.11 $

11.29 $

10.13 CLASS C:

Net assets

$

88,955,282

$

25,938,297

$

16,853,760

$

5,152,700

Shares outstanding

8,965,875

2,933,619

1,537,134

523,391

NAV and offering price per share

$

9.92 $

8.84 $

10.96 $

9.84 CLASS R6:

Net assets

$

127,128,097

$

—

$

—

$

—

Shares outstanding

12,749,592

—

—

—

NAV and offering price per share

$

9.97 $

—

$

—

$

—

CLASS I:

Net assets

$

1,757,953,558

$

7,507,859,701

$

3,943,007,335

$

244,594,117

Shares outstanding

176,428,500

846,933,988

359,554,962

24,714,061

NAV and offering price per share

$

9.96 $

8.86 $

10.97 $

9.90 Authorized shares - per class

Unlimited

Unlimited

Unlimited

2 billion

Par value per share

$

0.01 $

0.01 $

0.01 $

0.0001 Statement of Operations

See Notes to Financial Statements

Six Months Ended September 30, 2025 (Unaudited)

All-American

Intermediate

Duration

Limited Term

Short Term

INVESTMENT INCOME

Dividends from affiliated investments

$

339,990

$

126,573

$

—

$

—

Interest

93,154,651

151,414,711

76,465,262

7,228,800

Total investment income

93,494,641

151,541,284

76,465,262

7,228,800

EXPENSES

–

–

–

–

Management fees

7,508,169

15,128,755

8,131,318

833,832

12b-1 service fees - Class A

1,760,484

704,346

778,718

188,804

12b-1 distribution and service fees - Class C

470,838

134,051

89,288

26,964

Shareholder servicing agent fees - Class A

319,056

130,208

237,978

27,865

Shareholder servicing agent fees - Class C

17,081

4,955

5,456

797

Shareholder servicing agent fees - Class R6

3,371

—

—

—

Shareholder servicing agent fees - Class I

320,251

1,331,318

1,185,861

33,965

Interest expense

2,594,389

101,100

106,018

43,204

Directors/Trustees fees

69,025

147,640

29,661

7,840

Custodian expenses, net

176,837

265,718

201,095

31,633

Registration fees

76,945

85,857

58,937

38,914

Professional fees

23,789

15,978

49,692

26,849

Shareholder reporting expenses

62,200

86,812

95,217

21,946

Other

22,697

31,630

24,181

3,608

Total expenses before fee waiver/expense reimbursement

13,425,132

18,168,368

10,993,420

1,286,221

Fee waiver/expense reimbursement

—

—

—

(167,665)

Net expenses

13,425,132

18,168,368

10,993,420

1,118,556

Net investment income (loss)

80,069,509

133,372,916

65,471,842

6,110,244

REALIZED AND UNREALIZED GAIN (LOSS)

Realized gain (loss) from:

Investments

(15,688,464)

(5,879,665)

2,704,050

104,313

Futures contracts

665,499

—

—

—

Net realized gain (loss)

(15,022,965)

(5,879,665)

2,704,050

104,313

Change in unrealized appreciation (depreciation) on:

Investments

(3,315,079)

106,598,193

63,292,310

2,109,338

Affiliated investments

74,410

154,973

—

—

Net change in unrealized appreciation (depreciation)

(3,240,669)

106,753,166

63,292,310

2,109,338

Net realized and unrealized gain (loss)

(18,263,634)

100,873,501

65,996,360

2,213,651

Net increase (decrease) in net assets from operations

$

61,805,875

$

234,246,417

$

131,468,202

$

8,323,895

Statement of Changes in Net Assets

See Notes to Financial Statements

All-American

Intermediate Duration

Unaudited

Six Months Ended

9/30/25

Year Ended

3/31/25

Unaudited

Six Months Ended

9/30/25

Year Ended

3/31/25

OPERATIONS

Net investment income (loss)

$

80,069,509

$

170,457,795

$

133,372,916

$

243,470,963

Net realized gain (loss)

(15,022,965)

1,366,546

(5,879,665)

49,642,861

Net change in unrealized appreciation (depreciation)

(3,240,669)

(98,508,707)

106,753,166

(157,916,947)

Net increase (decrease) in net assets from operations

61,805,875

73,315,634

234,246,417

135,196,877

DISTRIBUTIONS TO SHAREHOLDERS

Dividends:

Class A

(37,475,538)

(76,635,222)

(11,148,466)

(22,409,276)

Class C

(1,628,867)

(3,714,821)

(313,341)

(678,338)

Class R6

(2,888,249)

(5,490,382)

—

—

Class I

(39,615,409)

(80,835,437)

(121,017,944)

(219,001,552)

Total distributions

(81,608,063)

(166,675,862)

(132,479,751)

(242,089,166)

FUND SHARE TRANSACTIONS

Subscriptions

505,199,137

797,338,410

1,822,044,367

1,992,487,176

Reinvestments of distributions

69,160,721

140,824,897

102,316,049

187,632,826

Redemptions

(736,790,336)

(1,288,486,105)

(1,448,085,194)

(1,825,307,273)

Net increase (decrease) from Fund share transactions

(162,430,478)

(350,322,798)

476,275,222

354,812,729

Net increase (decrease) in net assets

(182,232,666)

(443,683,026)

578,041,888

247,920,440

Net assets at the beginning of period

3,906,464,051

4,350,147,077

7,662,392,874

7,414,472,434

Net assets at the end of period

$

3,724,231,385

$

3,906,464,051

$

8,240,434,762

$

7,662,392,874

See Notes to Financial Statements

Limited Term

Short Term

Unaudited

Six Months Ended

9/30/25

Year Ended

3/31/25

Unaudited

Six Months Ended

9/30/25

Year Ended

3/31/25

OPERATIONS

Net investment income (loss)

$

65,471,842

$

133,405,880

$

6,110,244

$

12,410,509

Net realized gain (loss)

2,704,050

64,598,345

104,313

589,338

Net change in unrealized appreciation (depreciation)

63,292,310

(99,978,823)

2,109,338

1,462,162

Net increase (decrease) in net assets from operations

131,468,202

98,025,402

8,323,895

14,462,009

DISTRIBUTIONS TO SHAREHOLDERS

Dividends:

Class A

(10,700,712)

(21,888,542)

(2,811,759)

(5,217,884)

Class C

(172,421)

(429,893)

(57,594)

(129,875)

Class I

(56,733,397)

(116,835,869)

(3,631,854)

(7,152,465)

Total distributions

(67,606,530)

(139,154,304)

(6,501,207)

(12,500,224)

FUND SHARE TRANSACTIONS

Subscriptions

532,762,434

1,109,047,713

111,774,723

148,665,351

Reinvestments of distributions

55,655,763

112,696,325

5,454,067

10,056,647

Redemptions

(645,454,436)

(1,685,090,763)

(85,457,102)

(244,382,912)

Net increase (decrease) from Fund share transactions

(57,036,239)

(463,346,725)

31,771,688

(85,660,914)

Net increase (decrease) in net assets

6,825,433

(504,475,627)

33,594,376

(83,699,129)

Net assets at the beginning of period

4,724,892,104

5,229,367,731

412,469,166

496,168,295

Net assets at the end of period

$

4,731,717,537

$

4,724,892,104

$

446,063,542

$

412,469,166

Financial Highlights

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income (NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Total

Net Asset

Value,

End of

Period

All-American

Class

A

9/30/25

(d) $

9.96 $

0.21 $

(0.04)

$

0.17 $

(0.21)

$

—

$

(0.21)

$

9.92 3/31/25

10.20 0.41 (0.25)

0.16 (0.40)

—

(0.40)

9.96 3/31/24

10.13 0.38 0.06 0.44 (0.37)

—

(0.37)

10.20 3/31/23

11.08 0.36 (0.97)

(0.61)

(0.34)

—

(0.34)

10.13 3/31/22

12.09 0.34 (1.01)

(0.67)

(0.34)

—

(0.34)

11.08 3/31/21

11.49 0.35 0.62 0.97 (0.37)

—

(0.37)

12.09 Class

C

9/30/25

(d) 9.96 0.17 (0.04)

0.13 (0.17)

—

(0.17)

9.92 3/31/25

10.20 0.32 (0.24)

0.08 (0.32)

—

(0.32)

9.96 3/31/24

10.13 0.30 0.06 0.36 (0.29)

—

(0.29)

10.20 3/31/23

11.08 0.28 (0.98)

(0.70)

(0.25)

—

(0.25)

10.13 3/31/22

12.09 0.24 (1.01)

(0.77)

(0.24)

—

(0.24)

11.08 3/31/21

11.48 0.26 0.62 0.88 (0.27)

—

(0.27)

12.09 Class

R6

9/30/25

(d) 10.01 0.22 (0.04)

0.18 (0.22)

—

(0.22)

9.97 3/31/25

10.25 0.43 (0.24)

0.19 (0.43)

—

(0.43)

10.01 3/31/24

10.18 0.41 0.06 0.47 (0.40)

—

(0.40)

10.25 3/31/23

11.14 0.38 (0.98)

(0.60)

(0.36)

—

(0.36)

10.18 3/31/22

12.16 0.37 (1.02)

(0.65)

(0.37)

—

(0.37)

11.14 3/31/21

11.55 0.38 0.62 1.00 (0.39)

—

(0.39)

12.16 Class

I

9/30/25

(d) 10.01 0.22 (0.05)

0.17 (0.22)

—

(0.22)

9.96 3/31/25

10.24 0.43 (0.24)

0.19 (0.42)

—

(0.42)

10.01 3/31/24

10.18 0.40 0.05 0.45 (0.39)

—

(0.39)

10.24 3/31/23

11.13 0.38 (0.97)

(0.59)

(0.36)

—

(0.36)

10.18 3/31/22

12.14 0.37 (1.02)

(0.65)

(0.36)

—

(0.36)

11.13 3/31/21

11.54 0.38 0.61 0.99 (0.39)

—

(0.39)

12.14 (a) Based on average shares outstanding.

(b) Total returns are at NAV and do not include any sales charge. Total returns are not annualized.

(c) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on

the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the

Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on

borrowings, as described in Notes to Financial Statements.

(d) Unaudited.

(e) Annualized.

See Notes to Financial Statements

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b) Net

Assets,

End of

Period (000)

Expenses

Including

Interest

(c) Expenses

Excluding

Interest

NII

(Loss)

Portfolio

Turnover

Rate

1.74 %

$

1,750,194

0.80 %

(e) 0.66 %

(e) 4.19 %

(e) 28

%

1.53 1,836,003

0.82 0.66 3.99 33

4.47 2,057,942

0.76 0.67 3.81 59

(5.48)

2,207,643

0.82 0.66 3.50 47

(5.76)

3,012,154

0.70 0.64 2.80 27

8.51 3,154,428

0.69 0.66 2.98 19

1.34 88,955

1.60 (e) 1.46 (e) 3.39 (e) 28

0.74 101,990

1.62 1.46 3.19 33

3.68 138,312

1.56 1.47 3.00 59

(6.26)

184,011

1.62 1.46 2.70 47

(6.54)

265,767

1.50 1.44 2.00 27

7.73 293,333

1.49 1.46 2.18 19

1.88 127,128

0.57 (e) 0.43 (e) 4.42 (e) 28

1.82 131,342

0.59 0.43 4.23 33

4.71 137,329

0.53 0.44 4.04 59

(5.30)

142,935

0.58 0.42 3.74 47

(5.58)

159,516

0.47 0.41 3.04 27

8.79 114,355

0.45 0.42 3.19 19

1.76 1,757,954

0.60 (e) 0.46 (e) 4.39 (e) 28

1.86 1,837,129

0.62 0.46 4.20 33

4.60 2,016,564

0.56 0.47 4.00 59

(5.23)

2,264,482

0.62 0.46 3.69 47

(5.55)

4,249,974

0.50 0.44 3.00 27

8.69 4,281,209

0.49 0.45 3.17 19

#### Financial Highlights
(continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income (NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Total

Net Asset

Value,

End of

Period

Intermediate Duration

Class

A

9/30/25

(e) $

8.73 $

0.14 $

0.11 $

0.25 $

(0.14)

$

—

$

(0.14)

$

8.84 3/31/25

8.85 0.27 (0.12)

0.15 (0.27)

—

(0.27)

8.73 3/31/24

8.77 0.25 0.07 0.32 (0.24)

—

(0.24)

8.85 3/31/23

9.05 0.21 (0.29)

(0.08)

(0.20)

—

(0.20)

8.77 3/31/22

9.57 0.18 (0.52)

(0.34)

(0.18)

—

(0.18)

9.05 3/31/21

9.26 0.20 0.33 0.53 (0.22)

—

(0.22)

9.57 Class

C

9/30/25

(e) 8.74 0.10 0.10 0.20 (0.10)

—

(0.10)

8.84 3/31/25

8.85 0.20 (0.12)

0.08 (0.19)

—

(0.19)

8.74 3/31/24

8.77 0.18 0.07 0.25 (0.17)

—

(0.17)

8.85 3/31/23

9.06 0.14 (0.30)

(0.16)

(0.13)

—

(0.13)

8.77 3/31/22

9.57 0.10 (0.51)

(0.41)

(0.10)

—

(0.10)

9.06 3/31/21

9.26 0.13 0.32 0.45 (0.14)

—

(0.14)

9.57 Class

I

9/30/25

(e) 8.76 0.15 0.10 0.25 (0.15)

—

(0.15)

8.86 3/31/25

8.88 0.29 (0.13)

0.16 (0.28)

—

(0.28)

8.76 3/31/24

8.80 0.26 0.08 0.34 (0.26)

—

(0.26)

8.88 3/31/23

9.08 0.23 (0.30)

(0.07)

(0.21)

—

(0.21)

8.80 3/31/22

9.60 0.20 (0.52)

(0.32)

(0.20)

—

(0.20)

9.08 3/31/21

9.29 0.22 0.33 0.55 (0.24)

—

(0.24)

9.60 (a) Based on average shares outstanding.

(b) Total returns are at NAV and do not include any sales charge. Total returns are not annualized.

(c) The Fund has a contractual fee waiver/expense reimbursement agreement with the Adviser, but did not receive a fee

waiver/expense reimbursement during the periods presented herein. See Notes to Financial Statements for more

information.

(d) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on

the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the

Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on

borrowings, as described in Notes to Financial Statements.

(e) Unaudited.

(f) Annualized.

See Notes to Financial Statements

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b) Net

Assets,

End of

Period (000)

Expenses

Including

Interest

(c),(d)

Expenses

Excluding

Interest

(c) NII

(Loss)

(c) Portfolio

Turnover

Rate

.88

%

$

706,637

.64

%

(f) 0

.64

%

(f) 3

.19

%

(f) 14

%

.65

719,633

.64

.63

.01

.70

765,602

.65

.65

.82

(0

.90)

845,566

.65

.64

.38

(3

.66)

940,178

.63

.63

.87

.79

967,315

.64

.64

.12

.33

25,938

.44

(f) 1

.44

(f) 2

.39

(f) 14

.94

27,985

.45

.44

.21

.86

34,831

.45

.45

.02

(1

.80)

43,566

.45

.44

.58

(4

.34)

55,713

.43

.43

.07

.93

65,566

.44

.44

.33

.86

7,507,860

.44

(f) 0

.44

(f) 3

.39

(f) 14

.85

6,914,775

.44

.43

.21

.90

6,614,040

.45

.45

.02

(0

.67)

7,112,564

.45

.44

.57

(3

.46)

8,785,900

.43

.43

.06

.97

9,315,167

.44

.44

.32

(continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income

(NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Return

of

Capital

Total

Net Asset

Value,

End of

Period

Limited Term

Class

A

9/30/25

(d) $

10.86 $

0.14 $

0.16 $

0.30 $

(0.15)

$

—

$

—

$

(0.15)

$

11.01 3/31/25

10.95 0.27 (0.08)

0.19 (0.28)

—

—

(0.28)

10.86 3/31/24

10.87 0.24 0.07 0.31 (0.23)

—

—

(0.23)

10.95 3/31/23

10.92 0.16 (0.08)

0.08 (0.13)

—

—

(0.13)

10.87 3/31/22

11.32 0.12 (0.40)

(0.28)

(0.12)

—

—

(0.12)

10.92 3/31/21

11.02 0.15 0.35 0.50 (0.19)

—

(0.01)

(0.20)

11.32 Class

C

9/30/25

(d) 10.81 0.10 0.16 0.26 (0.11)

—

—

(0.11)

10.96 3/31/25

10.91 0.18 (0.09)

0.09 (0.19)

—

—

(0.19)

10.81 3/31/24

10.82 0.15 0.08 0.23 (0.14)

—

—

(0.14)

10.91 3/31/23

10.88 0.07 (0.08)

(0.01)

(0.05)

—

—

(0.05)

10.82 3/31/22

11.27 0.03 (0.39)

(0.36)

(0.03)

—

—

(0.03)

10.88 3/31/21

10.98 0.06 0.34 0.40 (0.10)

—

(0.01)

(0.11)

11.27 Class

I

9/30/25

(d) 10.82 0.15 0.16 0.31 (0.16)

—

—

(0.16)

10.97 3/31/25

10.91 0.29 (0.08)

0.21 (0.30)

—

—

(0.30)

10.82 3/31/24

10.82 0.26 0.08 0.34 (0.25)

—

—

(0.25)

10.91 3/31/23

10.88 0.18 (0.08)

0.10 (0.16)

—

—

(0.16)

10.82 3/31/22

11.28 0.14 (0.40)

(0.26)

(0.14)

—

—

(0.14)

10.88 3/31/21

10.98 0.17 0.35 0.52 (0.21)

—

(0.01)

(0.22)

11.28 (a) Based on average shares outstanding.

(b) Total returns are at NAV and do not include any sales charge. Total returns are not annualized.

(c) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on

the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the

Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on

borrowings, as described in Notes to Financial Statements.

(d) Unaudited.

(e) Annualized.

See Notes to Financial Statements

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b) Net

Assets,

End of

Period (000)

Expenses

Including

Interest

(c) Expenses

Excluding

Interest

NII

(Loss)

Portfolio

Turnover

Rate

.78

%

$

771,856

.63

%

(e) 0

.63

%

(e) 2

.64

%

(e) 17

%

.74

790,406

.63

.62

.45

.89

928,083

.63

.63

.19

.77

1,152,357

.61

.60

.45

(2

.55)

1,523,484

.59

.59

.05

.55

1,597,780

.61

.61

.31

.37

16,854

.43

(e) 1

.43

(e) 1

.84

(e) 17

.86

18,998

.43

.42

.64

.17

31,105

.43

.43

.38

(0

.11)

49,258

.41

.40

.65

(3

.25)

70,792

.39

.39

.26

.64

88,543

.41

.41

.53

.88

3,943,007

.43

(e) 0

.43

(e) 2

.84

(e) 17

.96

3,915,488

.43

.42

.65

.20

4,270,180

.43

.43

.38

.90

5,565,627

.41

.40

.65

(2

.35)

6,860,653

.39

.39

.25

.76

6,172,134

.41

.41

.51

(continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income (NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Total

Net Asset

Value,

End of

Period

Short Term

Class

A

9/30/25

(e) $

9.84 $

0.14 $

0.05 $

0.19 $

(0.15)

$

—

$

(0.15)

$

9.88 3/31/25

9.80 0.27 0.05 0.32 (0.28)

—

(0.28)

9.84 3/31/24

9.79 0.22 0.01 0.23 (0.22)

—

(0.22)

9.80 3/31/23

9.82 0.12 (0.05)

0.07 (0.10)

—

(0.10)

9.79 3/31/22

10.18 0.08 (0.36)

(0.28)

(0.08)

—

(0.08)

9.82 3/31/21

10.03 0.11 0.18 0.29 (0.14)

—

(0.14)

10.18 Class

C

9/30/25

(e) 9.80 0.10 0.05 0.15 (0.11)

—

(0.11)

9.84 3/31/25

9.76 0.19 0.05 0.24 (0.20)

—

(0.20)

9.80 3/31/24

9.76 0.14 —

0.14 (0.14)

—

(0.14)

9.76 3/31/23

9.79 0.04 (0.04)

—

(0.03)

—

(0.03)

9.76 3/31/22

10.15 (—)

(g) (0.36)

(0.36)

(—)

(g) —

—

9.79 3/31/21

10.00 0.03 0.18 0.21 (0.06)

—

(0.06)

10.15 Class

I

9/30/25

(e) 9.85 0.15 0.06 0.21 (0.16)

—

(0.16)

9.90 3/31/25

9.81 0.29 0.05 0.34 (0.30)

—

(0.30)

9.85 3/31/24

9.81 0.24 —

0.24 (0.24)

—

(0.24)

9.81 3/31/23

9.84 0.14 (0.05)

0.09 (0.12)

—

(0.12)

9.81 3/31/22

10.19 0.10 (0.35)

(0.25)

(0.10)

—

(0.10)

9.84 3/31/21

10.04 0.13 0.18 0.31 (0.16)

—

(0.16)

10.19 (a) Based on average shares outstanding.

(b) Total returns are at NAV and do not include any sales charge. Total returns are not annualized.

(c) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on

the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the

Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on

borrowings, as described in Notes to Financial Statements.

(d) After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Notes to Financial Statements

for more information.

(e) Unaudited.

(f) Annualized.

(g) Value rounded to zero.

See Notes to Financial Statements

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b) Net

Assets,

End of

Period (000)

Gross

Expenses

Including

Interest

(c) Gross

Expenses

Excluding

Interest

Net

Expenses

Including

Interest

(c),(d)

Net

Expenses

Excluding

Interest

(d) NII

(Loss)

(d) Portfolio

Turnover

Rate

.91

%

$

196,317

.70

%

(f) 0

.68

%

(f) 0

.63

%

(f) 0

.61

%

(f) 2

.78

%

(f) 22

%

.28

185,521

.71

.68

.63

.60

.79

.36

205,142

.72

.71

.72

.71

.27

.77

281,531

.69

.69

.69

.69

.20

(2

.80)

277,719

.67

.67

.67

.67

.77

.90

329,109

.68

.68

.68

.68

.08

.49

5,153

.50

(f) 1

.48

(f) 1

.43

(f) 1

.41

(f) 1

.98

(f) 22

.45

5,273

.51

.48

.43

.40

.99

.43

8,102

.52

.51

.52

.51

.46

.00

(g) 13,160

.49

.49

.49

.49

.41

(3

.50)

12,359

.47

.47

.47

.47

(0

.02)

.08

16,519

.48

.48

.48

.48

.29

.11

244,594

.50

(f) 0

.48

(f) 0

.43

(f) 0

.41

(f) 2

.98

(f) 22

.48

221,675

.51

.48

.43

.40

.99

.44

282,925

.52

.51

.52

.51

.45

.98

404,284

.49

.49

.49

.49

.39

(2

.51)

447,376

.47

.47

.47

.47

.97

.10

469,157

.48

.48

.48

.48

.28

Notes to Financial Statements

(Unaudited)

1. General Information

Trust and Fund Information:

Nuveen Municipal Trust and Nuveen Investment Funds, Inc. (each a "Trust" and collectively, the "Trusts"), are

open-end management investment companies registered under the Investment Company Act of 1940, (the "1940 Act"), as amended. Nuveen

Municipal Trust is comprised of Nuveen All-American Municipal Bond Fund ("All-American"), Nuveen Intermediate Duration Municipal Bond Fund

("Intermediate Duration") and Nuveen Limited Term Municipal Bond Fund ("Limited Term"), among others, and Nuveen Investment Funds, Inc.

is comprised of Nuveen Short Term Municipal Bond Fund ("Short Term"), among others, (each a "Fund" and collectively, the "Funds"). Nuveen

Municipal Trust was organized as a Massachusetts business trust on July 1, 1996. Nuveen Investment Funds, Inc. was incorporated in the State of

Maryland on August 20, 1987. The Funds, were each organized as a series of predecessor trusts or corporations prior to that date.

Current Fiscal Period

: The end of the reporting period for the Funds is September 30, 2025, and the period covered by these Notes to Financial

Statements is the six months ended September 30, 2025 (the "current fiscal period").

Investment Adviser and Sub-Adviser:

The Funds' investment adviser, Nuveen Fund Advisors, LLC (the "Adviser"), is a subsidiary of Nuveen, LLC

("Nuveen"). Nuveen is the investment management arm of Teachers Insurance and Annuity Association of America (TIAA). The Adviser has overall

responsibility for management of the Funds, oversees the management of the Funds' portfolios, manages the Funds' business affairs and provides

certain clerical, bookkeeping and other administrative services, and, if necessary, asset allocation decisions. The Adviser has entered into sub-

advisory agreements with Nuveen Asset Management, LLC (the "Sub-Adviser"), a subsidiary of the Adviser, under which the Sub-Adviser manages

the investment portfolios of the Funds.

Share Classes and Sales Charges:

Class A Shares are generally sold with an up-front sales charge. Class A Shares purchases of $250,000 or

more are sold at net asset value ("NAV") without an up-front sales charge but may be subject to a contingent deferred sales charge ("CDSC") of

1% (0.70% for Limited Term and Short Term) if redeemed within eighteen months (twelve months for Short Term) of purchase. Class C Shares are

sold without an up-front sales charge. Class C Shares are subject to a CDSC of 1% if redeemed within twelve months of purchase. Class C Shares

automatically convert to Class A Shares eight years after purchase. Class R6 Shares and Class I Shares are sold without an up-front sales charge.

2. Significant Accounting Policies

The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America

("U.S. GAAP"), which may require the use of estimates made by management and the evaluation of subsequent events. Actual results may differ

from those estimates. The Funds are investment companies and follow the accounting guidance in the Financial Accounting Standards Board

("FASB") Accounting Standards Codification 946, Financial Services — Investment Companies. The NAV for financial reporting purposes may differ

from the NAV for processing security and common share transactions. The NAV for financial reporting purposes includes security and common share

transactions through the date of the report. Total return is computed based on the NAV used for processing security and common share transactions.

The following is a summary of the significant accounting policies consistently followed by the Funds.

Compensation:

Neither Trust pays compensation directly to those of its officers, all of whom receive remuneration for their services to each Trust

from the Adviser or its affiliates. The Funds' Board of Directors/Trustees (the ''Board'') has adopted a deferred compensation plan for independent

directors/trustees that enables directors/trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive

from certain Nuveen-advised funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of

select Nuveen-advised funds.

Custodian Fee Credit:

As an alternative to overnight investments, each Fund has an arrangement with its custodian bank, State Street Bank and

Trust Company, (the "Custodian") whereby certain custodian fees and expenses are reduced by net credits earned on each Fund's cash on deposit

with the bank. Credits for cash balances may be offset by charges for any days on which a Fund overdraws its account at the Custodian. The amount

of custodian fee credit earned by a Fund is recognized on the Statement of Operations as a component of "Custodian expenses, net." During the

current fiscal period, the custodian fee credit earned by each Fund was as follows:

Distributions to Shareholders:

Distributions to shareholders are recorded on the ex-dividend date. The amount, character and timing of

distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

Fund

Gross

Custodian Fee

Credits

All-American

$

—

Intermediate Duration

—

Limited Term

—

Short Term

—

Indemnifications:

Under each Trust's organizational documents, its officers and directors/trustees are indemnified against certain liabilities arising

out of the performance of their duties to each Trust. In addition, in the normal course of business, each Trust enters into contracts that provide

general indemnifications to other parties. Each Trust's maximum exposure under these arrangements is unknown as this would involve future claims

that may be made against each Trust that have not yet occurred. However, each Trust has not had prior claims or losses pursuant to these contracts

and expects the risk of loss to be remote.

Investments and Investment Income:

Securities transactions are accounted for as of the trade date for financial reporting purposes. Realized gains

and losses on securities transactions are based upon the specific identification method. Investment Income, is comprised of interest income, which is

recorded on an accrual basis and includes accretion of discounts and amortization of premiums for financial reporting purposes. Investment income

also reflects payment-in-kind ("PIK") interest and paydown gains and losses, if any. PIK interest represents income received in the form of securities in

lieu of cash. Dividend income is recorded on the ex-dividend date.

Multiclass Operations and Allocations:

Income and expenses of the Funds that are not directly attributable to a specific class of shares are

prorated among the classes based on the relative value of the settled shares of each class. Expenses directly attributable to a class of shares are

recorded to the specific class. 12b-1 distribution and service fees are allocated on a class-specific basis.

Sub-transfer agent fees and similar fees, which are recognized as a component of "Shareholder servicing agent fees" on the Statement of

Operations, are not charged to Class R6 Shares and are prorated among the other classes based on their relative settled shares.

Realized and unrealized capital gains and losses of the Funds are prorated among the classes based on the relative net assets of each class.

Netting Agreements:

In the ordinary course of business, the Funds may enter into transactions subject to enforceable International Swaps and

Derivatives Association, Inc. (ISDA) master agreements or other similar arrangements ("netting agreements"). Generally, the right to offset in netting

agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when applicable, as well as any collateral

received or delivered to that counterparty based on the terms of the agreements. Generally, each Fund manages its cash collateral and securities

collateral on a counterparty basis. With respect to certain counterparties, in accordance with the terms of the netting agreements, collateral posted

to the Funds is held in a segregated account by the Funds' custodian and/or with respect to those amounts which can be sold or repledged, are

presented in the Funds' Portfolio of Investments or Statement of Assets and Liabilities.

The Funds' investments subject to netting agreements as of the end of the current fiscal period, if any, are further described later in these Notes to

Financial Statements.

Segment Reporting:

Each Fund represents a single operating segment. The officers of the Funds act as the chief operating decision maker

("CODM"). The CODM monitors the operating results of each Fund as a whole and is responsible for each Fund's long-term strategic asset allocation

in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a

team. The financial information in the form of the Fund's portfolio composition, total returns, expense ratios and changes in net assets (i.e., changes

in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess the segment's performance versus

the Fund's comparative benchmarks and to make resource allocation decisions for the Fund's single segment, is consistent with that presented within

the Fund's financial statements. Segment assets are reflected on the Statement of Assets and Liabilities as "total assets" and significant segment

revenues and expenses are listed on the Statement of Operations.

New Accounting Pronouncement

: In December 2023, the FASB issued Accounting Standard Update ("ASU") No. 2023-09, Income Taxes (Topic

740) Improvements to Income tax disclosures ("ASU 2023-09"). The primary purpose of the amendments within ASU 2023-09 is to enhance the

transparency and decision usefulness of income tax disclosures primarily related to the rate reconciliation table and income taxes paid information.

The amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Management is currently evaluating the

implications of these changes on the financial statements.

3. Investment Valuation and Fair Value Measurements

The Funds' investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Adviser, subject to

oversight of the Board. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly

transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy

which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value

measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability.

Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management's

assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best

information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit

spreads, etc.).

Level 3 – Prices are determined using significant unobservable inputs (including management's assumptions in determining the fair value of

investments).

A description of the valuation techniques applied to the Funds' major classifications of assets and liabilities measured at fair value follows:

#### Notes to Financial Statements
(continued)

Equity securities and exchange-traded funds listed or traded on a national market or exchange are valued based on their last reported sales price

or official closing price of such market or exchange on the valuation date. Foreign equity securities and registered investment companies that trade

on a foreign exchange are valued at the last reported sales price or official closing price on the principal exchange where traded, and converted to

U.S. dollars at the prevailing rates of exchange on the valuation date. For events affecting the value of foreign securities between the time when

the exchange on which they are traded closes and the time when the Funds' net assets are calculated, such securities will be valued at fair value in

accordance with procedures adopted by the Adviser, subject to the oversight of the Board. To the extent these securities are actively traded and no

valuation adjustments are applied, they are generally classified as Level 1. When valuation adjustments are applied to the most recent last sales price

or official closing price, these securities are generally classified as Level 2.

Prices of fixed-income securities are generally provided by pricing services approved by the Adviser, which is subject to review by the Adviser and

oversight of the Board. Pricing services establish a security's fair value using methods that may include consideration of the following: yields or

prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers,

evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor's credit

characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, pricing services may consider

information about a security, its issuer or market activity provided by the Adviser. These securities are generally classified as Level 2.

For any portfolio security or derivative for which market quotations are not readily available or for which the Adviser deems the valuations derived

using the valuation procedures described above not to reflect fair value, the Adviser will determine a fair value in good faith using alternative

procedures approved by the Adviser, subject to the oversight of the Board. As a general principle, the fair value of a security is the amount that

the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such

securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity

and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions

and other information and analysis, including the obligor's credit characteristics considered relevant. To the extent the inputs are observable and

timely, the values would be classified as Level 2; otherwise they would be classified as Level 3.

The following table summarizes the market value of the Funds' investments as of the end of the current fiscal period, based on the inputs used to

value them:

The Funds hold liabilities in floating rate obligations, where applicable, which are not reflected in the tables above. The fair values of the Funds'

liabilities for floating rate obligations approximate their liquidation values. Floating rate obligations are generally classified as Level 2 and further

described in these Notes to Financial Statements. The Funds, where applicable, have a receivable for the sale of their interest in Vistra Vision, which

is not reflected in the tables above. The carrying value of this receivable approximates fair value. The "Receivable for sale of Vistra Vision interest" is

generally classified as Level 2 and further described in these Notes to Financial Statements.

All-American

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Exchange-Traded Funds

$

17,451,000

$

–

$

–

$

17,451,000

Municipal Bonds

–

3,774,211,895

3,774,212,377

Variable Rate Senior Loan Interests

–

–

Total

$

17,451,000

$

3,774,211,895

$

514

$

3,791,663,409

Intermediate Duration

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Exchange-Traded Funds

$

8,725,500

$

–

$

–

$

8,725,500

Mortgage-Backed Securities

–

40,170,891

–

40,170,891

Municipal Bonds

–

7,984,295,569

–

7,984,295,569

Variable Rate Senior Loan Interests

–

–

1,941,619

1,941,619

Short-Term Investments:

Municipal Bonds

–

110,029,747

–

110,029,747

Total

$

8,725,500

$

8,134,496,207

$

1,941,619

$

8,145,163,326

Limited Term

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

4,598,356,078

$

–

$

4,598,356,078

Total

$

–

$

4,598,356,078

$

–

$

4,598,356,078

Short Term

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

446,647,670

$

–

$

446,647,670

Total

$

–

$

446,647,670

$

–

$

446,647,670

4. Portfolio Securities

Inverse Floating Rate Securities:

Each Fund is authorized to invest in inverse floating rate securities. An inverse floating rate security is created

by depositing a municipal bond (referred to as an "Underlying Bond"), typically with a fixed interest rate, into a special purpose tender option

rate certificates (referred to as "Floaters"), in face amounts equal to some fraction of the Underlying Bond's par amount or market value, and (b)

an inverse floating rate certificate (referred to as an "Inverse Floater") that represents all remaining or residual interest in the TOB Trust. Floaters

typically pay short-term tax-exempt interest rates to third parties who are also provided a right to tender their certificate and receive its par value,

which may be paid from the proceeds of a remarketing of the Floaters, by a loan to the TOB Trust from a third party liquidity provider ("Liquidity

Provider"), or by the sale of assets from the TOB Trust. The Inverse Floater is issued to a long term investor, such as one or more Funds. The income

received by the Inverse Floater holder varies inversely with the short-term rate paid to holders of the Floaters, and in most circumstances the Inverse

Floater holder bears substantially all of the Underlying Bond's downside investment risk and also benefits disproportionately from any potential

appreciation of the Underlying Bond's value. The value of an Inverse Floater will be more volatile than that of the Underlying Bond because the

interest rate is dependent on not only the fixed coupon rate of the Underlying Bond but also on the short-term interest paid on the Floaters, and

because the Inverse Floater essentially bears the risk of loss (and possible gain) of the greater face value of the Underlying Bond.

The Inverse Floater held by a Fund gives the Fund the right to (a) cause the holders of the Floaters to tender their certificates at par (or slightly more

than par in certain circumstances), and (b) have the trustee of the TOB Trust (the "Trustee") transfer the Underlying Bond held by the TOB Trust to

the Fund, thereby collapsing the TOB Trust.

or (b) transfers an Underlying Bond that it owns, or that it has purchased in a secondary market transaction for the purpose of creating an Inverse

Floater, to a TOB Trust created at its direction, and in return receives the Inverse Floater of the TOB Trust (referred to as a "self-deposited Inverse

Floater"). A Fund may also purchase an Inverse Floater in a secondary market transaction from a third party creator of the TOB Trust without first

owning the Underlying Bond (referred to as an "externally-deposited Inverse Floater").

An investment in a self-deposited Inverse Floater is accounted for as a "financing" transaction (i.e., a secured borrowing). For a self-deposited

Inverse Floater, the Underlying Bond deposited into the TOB Trust is identified in the Fund's Portfolio of Investments as "(UB) – Underlying bond of

an inverse floating rate trust reflected as a financing transaction," with the Fund recognizing as liabilities, labeled "Floating rate obligations" on the

Statement of Assets and Liabilities, (a) the liquidation value of Floaters issued by the TOB Trust, and (b) the amount of any borrowings by the TOB

Trust from a Liquidity Provider to enable the TOB Trust to purchase outstanding Floaters in lieu of a remarketing. In addition, the Fund recognizes in

"Investment Income" the entire earnings of the Underlying Bond, and recognizes (a) the interest paid to the holders of the Floaters or on the TOB

Trust's borrowings, and (b) other expenses related to remarketing, administration, trustee, liquidity and other services to a TOB Trust, as a component

of "Interest expense" on the Statement of Operations. Earnings due from the Underlying Bond and interest due to the holders of the Floaters as of

the end of the fiscal period are recognized as components of "Receivable for interest" and "Payable for interest" on the Statement of Assets and

Liabilities, respectively.

In contrast, an investment in an externally-deposited Inverse Floater is accounted for as a purchase of the Inverse Floater and is identified in the

Fund's Portfolio of Investments as "(IF) – Inverse floating rate investment." For an externally-deposited Inverse Floater, a Fund's Statement of Assets

and Liabilities recognizes the Inverse Floater and not the Underlying Bond as an asset, and the Fund does not recognize the Floaters, or any related

borrowings from a Liquidity Provider, as a liability. Additionally, the Fund reflects in "Investment Income" only the net amount of earnings on the

Inverse Floater (net of the interest paid to the holders of the Floaters or the Liquidity Provider as lender, and the expenses of the Trust), and does not

show the amount of that interest paid or the expenses of the TOB Trust as described above as interest expense on the Statement of Operations.

Fees paid upon the creation of a TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters are recognized as part of

the cost basis of the Inverse Floater and are capitalized over the term of the TOB Trust.

As of the end of the fiscal period, the aggregate value of Floaters issued by each Fund's TOB Trust for self-deposited Inverse Floaters and externally-

deposited Inverse Floaters was as follows:

During the current fiscal period, the average amount of Floaters (including any borrowings from a Liquidity Provider) outstanding, and the average

annual interest rates and fees related to self-deposited Inverse Floaters, were as follows:

Fund

Floating Rate

Obligations: Self-

Deposited

Inverse Floaters

Floating Rate

Obligations:

Externally-Deposited

Inverse Floaters

Total

All-American

$

122,385,000

$

—

$

122,385,000

Intermediate Duration

—

—

—

Limited Term

—

—

—

Short Term

—

—

—

(continued)

TOB Trusts are supported by a liquidity facility provided by a Liquidity Provider pursuant to which the Liquidity Provider agrees, in the event that

Floaters are (a) tendered to the Trustee for remarketing and the remarketing does not occur, or (b) subject to mandatory tender pursuant to the

terms of the TOB Trust agreement, to either purchase Floaters or to provide the Trustee with an advance from a loan facility to fund the purchase of

Floaters by the TOB Trust. In certain circumstances, the Liquidity Provider may otherwise elect to have the Trustee sell the Underlying Bond to retire

the Floaters that were tendered and not remarketed prior to providing such a loan. In these circumstances, the Liquidity Provider remains obligated

to provide a loan to the extent that the proceeds of the sale of the Underlying Bond are not sufficient to pay the purchase price of the Floaters.

The size of the commitment under the loan facility for a given TOB Trust is at least equal to the balance of that TOB Trust's outstanding Floaters plus

any accrued interest. In consideration of the loan facility, fee schedules are in place and are charged by the Liquidity Provider(s). Any loans made

by the Liquidity Provider will be secured by the purchased Floaters held by the TOB Trust. Interest paid on any outstanding loan balances will be

effectively borne by the Fund that owns the Inverse Floaters of the TOB Trust that has incurred the borrowing and may be at a rate that is greater

than the rate that would have been paid had the Floaters been successfully remarketed.

As described above, any amounts outstanding under a liquidity facility are recognized as a component of "Floating rate obligations" on the

Statement of Assets and Liabilities by the Fund holding the corresponding Inverse Floaters issued by the borrowing TOB Trust. As of the end of the

fiscal period, there were no loans outstanding under any such facility.

Each Fund may also enter into shortfall and forbearance agreements (sometimes referred to as a "recourse arrangement") (TOB Trusts involving

such agreements are referred to herein as "Recourse Trusts"), under which a Fund agrees to reimburse the Liquidity Provider for the Trust's Floaters,

in certain circumstances, for the amount (if any) by which the liquidation value of the Underlying Bond held by the TOB Trust may fall short of the

sum of the liquidation value of the Floaters issued by the TOB Trust plus any amounts borrowed by the TOB Trust from the Liquidity Provider, plus

any shortfalls in interest cash flows (sometimes referred to as "shortfall payments"). Under these agreements, a Fund's potential exposure to losses

related to or on an Inverse Floater may increase beyond the value of the Inverse Floater as a Fund may potentially be liable to fulfill all amounts

owed to holders of the Floaters or the Liquidity Provider. Any such shortfall amount in the aggregate is recognized as "Unrealized depreciation on

Recourse Trusts" on the Statement of Assets and Liabilities.

As of the end of the current fiscal period, the Funds maximum exposure to the Floaters issued by Recourse Trusts for self-deposited Inverse Floaters

and externally-deposited Inverse Floaters was as follows:

Zero Coupon Securities:

A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the

holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the

security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices

of securities that pay interest periodically.

Purchases and Sales:

Long-term purchases and sales during the current fiscal period were as follows:

Fund

Average Floating

Rate Obligations

Outstanding

Average Annual

Interest Rate

And Fees

All-American

$

167,069,315

2.96 %

Intermediate Duration

—

—

Limited Term

—

—

Short Term

—

—

Fund

Maximum Exposure

to Recourse Trusts:

Self-Deposited

Inverse Floaters

Maximum Exposure

to Recourse Trusts:

Externally-Deposited

Inverse Floaters

Total

All-American

$

122,385,000

$

—

$

122,385,000

Intermediate Duration

—

—

—

Limited Term

—

—

—

Short Term

—

—

—

Fund

Non-U.S.

Government

Purchases

U.S.

Government

Purchases

Non-U.S.

Government Sales

and Maturities

U.S.

Government

Sales

All-American

$

1,040,475,113

$

49,677,088

$

1,148,983,995

$

50,000,000

Intermediate Duration

1,507,654,363

4,418,440

1,058,857,820

65,191

Limited Term

754,733,936

—

818,890,681

—

Short Term

131,559,609

—

94,466,296

—

The Funds may purchase securities on a when-issued or delayed-delivery basis. Securities purchased on a when-issued or delayed-delivery basis may

have extended settlement periods; interest income is not accrued until settlement date. Any securities so purchased are subject to market fluctuation

during this period. If a Fund has outstanding when-issued/delayed-delivery purchases commitments as of the end of the current fiscal period, such

amounts are recognized on the Statement of Assets and Liabilities.

Sale of Vistra Vision interests:

On September 18, 2024, Vistra Corp. ("Vistra") and Nuveen agreed to terms for the sale of the Vistra Vision interest.

In exchange for its interest in Vistra Vision, the Funds agreed to receive proceeds from the sale over a series of payments from Vistra through

December 31, 2026. The resulting receivables have been discounted using an effective interest rate of 6.18%. The receivable, net of discount,

and related transaction costs are recognized as "Receivable for sale of Vistra Vision interest" and "Payable for Vistra Vision sale transactions costs,"

respectively, on the Statement of Assets and Liabilities.

5. Derivative Investments

Each Fund is authorized to invest in certain derivative instruments. As defined by U.S. GAAP, a derivative is a financial instrument whose value is

derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variables. Investments in derivatives

as of the end of and/or during the current fiscal period, if any, are included within the Statement of Assets and Liabilities and the Statement of

Operations, respectively.

Futures Contracts:

During the current fiscal period, All-American managed the duration of its portfolio by shorting interest rate futures contracts.

A futures contract is an agreement between two parties to buy and sell a financial instrument for a set price on a future date. Upon execution of a

futures contract, the Fund is obligated to deposit cash or eligible securities, also known as "initial margin," into an account at its clearing broker

equal to a specified percentage of the contract amount. Securities deposited for initial margin, if any, are identified in the Portfolio of Investments

and cash deposited for initial margin, if any, is reflected on the Statement of Assets and Liabilities.

During the period the futures contract is open, changes in the market value of the contract are recognized as an unrealized gain or loss by "marking-

to-market" on a daily basis. The Fund and the clearing broker are obligated to settle monies on a daily basis representing the changes in the value

of the contracts. These daily cash settlements are known as "variation margin" and is recognized on the Statement of Assets and Liabilities as a

receivable or payable for variation margin on futures contracts. When the contract is closed or expired, the Fund records a realized gain or loss

equal to the difference between the value of the contract on the closing date and value of the contract when originally entered into. The net realized

gain or loss and the change in unrealized appreciation (depreciation) on futures contracts held during the period is included on the Statement of

Operations.

Risks of investments in futures contracts include the possible adverse movement in the price of the securities or indices underlying the contracts, the

possibility that there may not be a liquid secondary market for the contracts and/or that a change in the value of the contract may not correlate with

a change in the value of the underlying securities or indices.

The average notional amount of futures contracts outstanding during the current fiscal period was as follows:

During the current fiscal period, the effect of derivative contracts on the Funds' Statement of Operations was as follows:

Market and Counterparty Credit Risk:

In the normal course of business each Fund may invest in financial instruments and enter into financial

transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform

(counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets,

which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap

transactions, when applicable. The extent of each Fund's exposure to counterparty credit risk in respect to these financial assets approximates their

carrying value as recorded on the Statement of Assets and Liabilities.

Fund

Average Notional Amount of Futures

Contracts Outstanding

\*

All-American

$–\*\*

\*

The average notional amount is calculated based on the absolute aggregate notional amount of contracts outstanding at the beginning of

the current fiscal period and at the end of each fiscal quarter within the current fiscal period.

\*\*

The Fund invested in futures contracts during the current fiscal period. However, the Fund did not hold any such positions at the beginning

of the fiscal period or at the end of each fiscal quarter within the current fiscal period and therefore are not included as part of this

calculation.

Derivative Instrument

Risk Exposure

Net Realized Gain

(Loss)

Change in

Unrealized

Appreciation

(Depreciation)

All-American

Futures contracts

Interest rate

$

665,499

$

–

(continued)

Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial

resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may

be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal

to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have

instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a

pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by

at least the pre-determined threshold amount.

6. Fund Shares

Transactions in Fund shares during the current and prior fiscal period were as follows:

Six Months Ended

9/30/25

Year Ended

3/31/25

All-American

Shares

Value

Shares

Value

Subscriptions:

Class A

14,210,707

$138,955,177

27,065,412

$275,543,562

Class A - automatic conversion of Class C

18,395

180,258

22,648

231,220

Class C

494,732

4,833,315

1,064,843

10,849,623

Class R6

2,779,764

27,323,775

4,467,976

45,570,171

Class I

33,948,124

333,906,612

45,536,377

465,143,834

Total subscriptions

51,451,722

505,199,137

78,157,256

797,338,410

Reinvestments of distributions:

Class A

3,364,206

32,945,838

6,634,435

67,369,635

Class C

156,335

1,531,014

339,725

3,449,481

Class R6

191,510

1,885,000

349,075

3,561,863

Class I

3,335,637

32,798,869

6,516,561

66,443,918

Total reinvestments of distributions

7,047,688

69,160,721

13,839,796

140,824,897

Redemptions:

Class A

(25,472,462)

(249,192,619)

(51,321,621)

(521,779,549)

Class C

(1,903,413)

(18,612,201)

(4,710,751)

(47,899,211)

Class C - automatic conversion to Class A

(18,401)

(180,258)

(22,651)

(231,220)

Class R6

(3,337,215)

(32,786,893)

(5,098,971)

(52,021,380)

Class I

(44,438,118)

(436,018,365)

(65,387,885)

(666,554,745)

Total redemptions

(75,169,609)

(736,790,336)

(126,541,879)

(1,288,486,105)

Net increase (decrease)

(16,670,199)

$(162,430,478)

(34,544,827)

$(350,322,798)

Six Months Ended

9/30/25

Year Ended

3/31/25

Intermediate Duration

Shares

Value

Shares

Value

Subscriptions:

Class A

8,794,408

$76,433,647

13,669,407

$120,899,844

Class A - automatic conversion of Class C

3,784

4,223

37,298

Class C

259,144

2,252,757

588,891

5,228,313

Class I

200,592,232

1,743,354,179

210,209,139

1,866,321,721

Total subscriptions

209,646,219

1,822,044,367

224,471,660

1,992,487,176

Reinvestments of distributions:

Class A

1,103,042

9,601,223

2,169,785

19,177,870

Class C

33,363

290,491

70,805

626,096

Class I

10,585,160

92,424,335

18,928,356

167,828,860

Total reinvestments of distributions

11,721,565

102,316,049

21,168,946

187,632,826

Redemptions:

Class A

(12,346,755)

(107,129,097)

(19,917,630)

(176,151,754)

Class C

(561,965)

(4,883,781)

(1,385,606)

(12,272,296)

Class C - automatic conversion to Class A

(435) (3,784)

(4,219)

(37,298)

Class I

(153,669,386)

(1,336,068,532)

(184,597,812)

(1,636,845,925)

Total redemptions

(166,578,541)

(1,448,085,194)

(205,905,267)

(1,825,307,273)

Net increase (decrease)

54,789,243

$476,275,222

39,735,339

$354,812,729

7. Income Tax Information

Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and

net capital gains to shareholders and otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated

investment companies. Therefore, no federal income tax provision is required.

Each Fund intends to satisfy conditions that will enable interest from municipal securities, which is exempt from regular federal income tax, to retain

such tax-exempt status when distributed to shareholders of the Funds. Net realized capital gains and ordinary income distributions paid by the

Funds are subject to federal taxation.

Each Fund files income tax returns in U.S. federal and applicable state and local jurisdictions. A Fund's federal income tax returns are generally

subject to examination for a period of three fiscal years after being filed. State and local tax returns may be subject to examination for an additional

period of time depending on the jurisdiction. Management has analyzed each Fund's tax positions taken for all open tax years and has concluded

that no provision for income tax is required in the Fund's financial statements.

Six Months Ended

9/30/25

Year Ended

3/31/25

Limited Term

Shares

Value

Shares

Value

Subscriptions:

Class A

3,304,179

$35,900,403

7,166,218

$78,488,579

Class A - automatic conversion of Class C

725

7,862

12,635

138,977

Class C

43,045

468,474

134,396

1,462,823

Class I

45,845,408

496,385,695

94,351,024

1,028,957,334

Total subscriptions

49,193,357

532,762,434

101,664,273

1,109,047,713

Reinvestments of distributions:

Class A

830,879

9,052,983

1,707,797

18,689,391

Class C

15,468

167,787

38,121

415,361

Class I

4,278,295

46,434,993

8,588,672

93,591,573

Total reinvestments of distributions

5,124,642

55,655,763

10,334,590

112,696,325

Redemptions:

Class A

(6,808,790)

(74,069,044)

(20,853,814)

(228,249,071)

Class C

(277,356)

(3,006,419)

(1,254,630)

(13,689,773)

Class C - automatic conversion to Class A

(728) (7,862)

(12,689)

(138,977)

Class I

(52,574,667)

(568,371,111)

(132,399,838)

(1,443,012,942)

Total redemptions

(59,661,541)

(645,454,436)

(154,520,971)

(1,685,090,763)

Net increase (decrease)

(5,343,542)

$(57,036,239)

(42,522,108)

$(463,346,725)

Six Months Ended

9/30/25

Year Ended

3/31/25

Short Term

Shares

Value

Shares

Value

Subscriptions:

Class A

3,488,382

$34,338,975

5,116,424

$50,356,150

Class C

142,605

1,395,912

174,234

1,705,425

Class I

7,705,116

76,039,836

9,820,001

96,603,776

Total subscriptions

11,336,103

111,774,723

15,110,659

148,665,351

Reinvestments of distributions:

Class A

253,775

2,500,119

463,905

4,561,207

Class C

5,217

51,186

11,613

113,723

Class I

294,168

2,902,762

546,577

5,381,717

Total reinvestments of distributions

553,160

5,454,067

1,022,095

10,056,647

Redemptions:

Class A

(2,729,616)

(26,852,021)

(7,664,895)

(75,334,245)

Class C

(162,401)

(1,593,395)

(478,065)

(4,680,899)

Class I

(5,781,753)

(57,011,686)

(16,709,914)

(164,367,768)

Total redemptions

(8,673,770)

(85,457,102)

(24,852,874)

(244,382,912)

Net increase (decrease)

3,215,493

$31,771,688

(8,720,120)

$(85,660,914)

(continued)

As of the end of the reporting period, the aggregate cost and the net unrealized appreciation/(depreciation) of all investments for federal income tax

purposes were as follows:

For purposes of this disclosure, tax cost generally includes the cost of portfolio investments as well as up-front fees or premiums exchanged on

derivatives and any amounts unrealized for income statement reporting but realized income and/or capital gains for tax reporting, if applicable.

As of prior fiscal period end, the components of accumulated earnings on a tax basis were as follows:

As of prior fiscal period end, the Funds had capital loss carryforwards, which will not expire:

8. Management Fees and Other Transactions with Affiliates

Management Fees:

Each Fund's management fee compensates the Adviser for the overall investment advisory and administrative services and

general office facilities. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser.

Each Fund's management fee consists of two components – a fund-level fee, based only on the amount of assets within each individual Fund, and

a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables each Fund's

shareholders to benefit from growth in the assets within their respective Fund as well as from growth in the amount of complex-wide assets managed

by the Adviser.

The annual fund-level fee, payable monthly, for each Fund is calculated according to the following schedule:

Fund

Tax Cost

Gross Unrealized

Appreciation

Gross

Unrealized

(Depreciation)

Net

Unrealized

Appreciation

(Depreciation)

All-American

$

3,670,839,820

$

96,903,866

$

(98,465,298)

$

(1,561,432)

Intermediate Duration

8,364,723,566

116,664,025

(336,224,265)

(219,560,240)

Limited Term

4,663,519,008

56,276,835

(121,439,765)

(65,162,930)

Short Term

443,371,518

3,908,785

(632,633)

3,276,152

Fund

Undistributed

Tax-Exempt

Income

Undistributed

Ordinary

Income

Undistributed

Long-Term

Capital Gains

Unrealized

Appreciation

(Depreciation)

Capital Loss

Carryforwards

Late-Year Loss

Deferrals

Other

Book-to-Tax

Differences

Total

All-American

$

20,998,360

$

841,130

$

—

$

751,346

$

(1,073,867,302)

$

—

$

(13,884,140)

$

(1,065,160,606)

Intermediate

Duration

30,763,855

2,073,818

—

(327,893,317)

(173,863,747)

—

(20,822,840)

(489,742,231)

Limited Term

23,824,107

2,078,471

—

(128,399,615)

(94,190,323)

—

(11,510,857)

(208,198,217)

Short Term

2,380,903

14,802

—

1,159,384

(18,374,352)

—

(1,084,801)

(15,904,064)

Undistributed tax-exempt income (on a tax basis) has not been reduced for the dividends declared during the period March 1, 2025 through March 31, 2025

and paid on April 1, 2025.

Fund

Short-Term

Long-Term

Total

All-American

$

534,814,943

$

539,052,359

$

1,073,867,302

Intermediate Duration

135,477,649

38,386,098

173,863,747

Limited Term

92,243,546

1,946,777

94,190,323

Short Term

2,491,880

15,882,472

18,374,352

A portion of All-American's capital loss carryforward is subject to an annual limitation under the Internal Revenue Code and related regulations.

Average Daily Net Assets

All-

American

Intermediate

Duration

Limited

Term

Short

Term

For the first $125 million

0.3000 %

0.3000 %

0.2500 %

0.2500 %

For the next $125 million

0.2875 0.2875 0.2375 0.2375 For the next $250 million

0.2750 0.2750 0.2250 0.2250 For the next $500 million

0.2625 0.2625 0.2125 0.2125 For the next $1 billion

0.2500 0.2500 0.2000 0.2000 For the next $3 billion

0.2250 0.2250 0.1750 0.1750 For the next $5 billion

0.2000 0.2000 0.1500 0.1500 For net assets over $10 billion

0.1875 0.1875 0.1375 0.1375 193

The annual complex-level fee, payable monthly, for each Fund is calculated according to the following schedule:

\* The complex-level fee is calculated based upon the aggregate daily "eligible assets" of all Nuveen-branded closed-end funds and Nuveen branded open-end funds ("Nuveen Mutual

Funds"). Except as described below, eligible assets include the assets of all Nuveen-branded closed-end funds and Nuveen Mutual Funds organized in the United States. Eligible assets do

not include the net assets of: Nuveen fund-of-funds, Nuveen money market funds, Nuveen index funds, Nuveen Large Cap Responsible Equity Fund or Nuveen Life Large Cap Responsible

Equity Fund. In addition, eligible assets include a fixed percentage of the aggregate net assets of the active equity and fixed income Nuveen Mutual Funds advised by the Adviser's affiliate,

Teachers Advisors, LLC (except those identified above). The fixed percentage will increase annually until May 1, 2033, at which time eligible assets will include all of the aggregate net assets

of the active equity and fixed income Nuveen Mutual Funds advised by Teachers Advisors, LLC (except those identified above). Eligible assets include closed-end fund assets managed by

the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes the closed-end funds' use of preferred stock and borrowings and certain investments

in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively

financed by the trust's issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining eligible assets in

certain circumstances.

As of the end of the current fiscal period, the complex-level fee rate for the Fund was as follows:

The Adviser has agreed to waive fees and/or reimburse expenses ("Expense Cap") of the following Funds so that the total annual Fund operating

expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and

disposing of portfolio securities and extraordinary expenses) do not exceed the average daily net assets of any class of Fund shares in the amounts

and for the time periods stated in the following table. The expense limitation expiring on July 31, 2027, may be terminated or modified prior to the

date only with the approval of the Board.

Distribution and Service Fees:

Each Fund has adopted a distribution and service plan under rule 12b-1 under the 1940 Act. Class A Shares incur

a 0.20% annual 12b-1 service fee. Class C Shares incur a 0.75% annual 12b-1 distribution fee and a 0.25% annual 12b-1 service fee. Class R6 and

Class I Shares are not subject to 12b-1 distribution or service fees. The fees under this plan compensate Nuveen Securities, LLC, (the "Distributor"), a

wholly-owned subsidiary of Nuveen, for services provided and expenses incurred in distributing shares of the Funds and establishing and maintaining

shareholder accounts.

Other Transactions with Affiliates:

The Funds are permitted to purchase or sell securities from or to certain other funds or accounts managed

by the Sub-Adviser or by an affiliate of the Adviser (each an, "Affiliated Entity") under specified conditions outlined in procedures adopted by the

Board ("cross-trade"). These procedures have been designed to ensure that any cross-trade of securities by the Fund from or to an Affiliated Entity

by virtue of having a common investment adviser (or affiliated investment adviser), common officer and/or common trustee complies with Rule 17a-7

under the 1940 Act. These transactions are effected at the current market price (as provided by an independent pricing service) without incurring

broker commissions. During the current fiscal period, the Funds engaged in the following security transactions with affiliated entities:

Complex-Level Asset Breakpoint Level\*

Complex-Level Fee

For the first $124.3 billion

0.1600 %

For the next $75.7 billion

0.1350 For the next $200 billion

0.1325 For eligible assets over $400 billion

0.1300 Fund

Complex-Level Fee

All-American

0.1564 %

Intermediate Duration

0.1564 Limited Term

0.1564 Short Term

0.1564 Fund

Temporary

Expense Cap

Temporary

Expense Cap

Expiration Date

Permanent

Expense Cap

Intermediate Duration

N/A

N/A

0.75%

Short Term

0.45%

7/31/2027

N/A

N/A - Not Applicable.

(continued)

During the current fiscal period, the Distributor, collected sales charges on purchases of Class A Shares, the majority of which were paid out as

concessions to financial intermediaries as follows:

The Distributor also received 12b-1 service fees on Class A Shares, substantially all of which were paid to compensate financial intermediaries for

providing services to shareholders relating to their investments.

During the current fiscal period, the Distributor compensated financial intermediaries directly with commission advances at the time of purchase as

follows:

To compensate for commissions advanced to financial intermediaries, all 12b-1 service and distribution fees collected on Class C Shares during the

first year following a purchase are retained by the Distributor. During the current fiscal period, the Distributor retained such 12b-1 fees as follows:

The remaining 12b-1 fees charged to each Fund were paid to compensate financial intermediaries for providing services to shareholders relating to

their investments.

The Distributor also collected and retained CDSC on share redemptions during the current fiscal period, as follows:

Fund

Purchases

Sales

Realized

Gain (Loss)

All-American

$

—

$

—

$

—

Intermediate Duration

—

—

—

Limited Term

2,178,176

—

—

Short Term

—

3,332,922

(206) Fund

Sales Charges

Collected

Paid to Financial

Intermediaries

All-American

$

851,983

$

831,849

Intermediate Duration

342,028

335,527

Limited Term

78,539

74,148

Short Term

48,908

47,109

Fund

Commission

Advances

All-American

$

725,147

Intermediate Duration

326,057

Limited Term

60,870

Short Term

42,699

Fund

12b-1 Fees

Retained

All-American

$

31,352

Intermediate Duration

12,539

Limited Term

3,206

Short Term

2,704

Fund

CDSC

Retained

All-American

$

99,540

Intermediate Duration

17,838

Limited Term

Short Term

—

Affiliated Investments:

Investments in other investment companies advised by the Adviser are deemed to be "affiliated investments". A complete

schedule of the portfolio holdings for each of the affiliated investments is filed with the SEC for the first and third quarters of each fiscal year on Form

N-PORT and is available on the SEC's website at www.sec.gov. A copy of the annual report, semi-annual report and financial statements is available

for each of the affiliated investments at https://www.nuveen.com/en-us/mutual-funds/prospectuses, or upon request by calling (800) 257-8787.

Information regarding transactions with affiliated investments is as follows:

9. Commitments and Contingencies

In the normal course of business, each Fund enters into a variety of agreements that may expose the Funds to some risk of loss. These could include

recourse arrangements for certain TOB Trusts, which are described elsewhere in these Notes to Financial Statements. The risk of future loss arising

from such agreements, while not quantifiable, is expected to be remote. As of the end of the fiscal period, the Funds did not have any unfunded

commitments.

From time to time, the Funds may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to the

enforcement of the Funds' rights under contracts. As of the end of the fiscal period, the Funds are not subject to any material legal proceedings.

10. Borrowing Arrangements

Line of Credit:

The Funds, along with certain funds managed by the Adviser or by an affiliate of the Adviser ("Participating Funds"), have

established a 364-day, $2.7 billion standby credit facility with a group of lenders, under which the Participating Funds may borrow for temporary

purposes (other than on-going leveraging for investment purposes). Each Participating Fund is allocated a designated proportion of the facility's

capacity (and its associated costs, as described below) based upon a multi-factor assessment of the likelihood and frequency of its need to draw

on the facility, the size of the Fund and its anticipated draws, and the potential importance of such draws to the operations and well-being of the

Fund, relative to those of the other Funds. A Fund may effect draws on the facility in excess of its designated capacity if and to the extent that other

Participating Funds have undrawn capacity. The credit facility expires in June 2026, unless extended or renewed.

The credit facility has the following terms: 0.15% per annum on unused commitment amounts and a drawn interest rate equal to the higher

of (a) OBFR (Overnight Bank Funding Rate) plus 1.20% per annum or (b) the Fed Funds Effective Rate plus 1.20% per annum on amounts

borrowed. Interest expense incurred by the Participating Funds, when applicable, is recognized as a component of "Interest expense" on the

Statement of Operations. Participating Funds paid administration, legal and arrangement fees, which are recognized as a component of "Interest

expense" on the Statement of Operations, and along with commitment fees, have been allocated among such Participating Funds based upon the

relative proportions of the facility's aggregate capacity reserved for them and other factors deemed relevant by the Adviser and the Board of each

Participating Fund.

During the current period, the following Funds utilized this facility. The Funds' maximum outstanding balance during the utilization period was as

follows:

Issue

Value at

3/31/25

Purchases

Cost

Sales

Proceeds

Realized

Gain (Loss)

Change in

Unrealized

Appreciation

(Depreciation)

Shares at

9/30/25

Value at

9/30/25

Dividend

Income

All-American

Exchange-Traded Funds

Nuveen Municipal Income ETF

$17,376,590

$–

$–

$–

$74,410

700,000

$17,451,000

$339,990

Total

$17,376,590

$–

$–

$–

$74,410

700,000

$17,451,000

$339,990

Intermediate Duration

Exchange-Traded Funds

Nuveen Municipal Income ETF

$1,861,777

$6,708,750

$–

$–

$154,973

350,000

$8,725,500

$126,573

Total

$1,861,777

$6,708,750

$–

$–

$154,973

350,000

$8,725,500

$126,573

Fund

Maximum

Outstanding

Balance

All-American

$

15,100,000

Intermediate Duration

13,600,000

Limited Term

32,600,000

Short Term

13,404,626

(continued)

During each Fund's utilization period(s) during the current fiscal period, the average daily balance outstanding and average annual interest rate on

the Borrowings were as follows:

Borrowings outstanding as of the end of the fiscal period, if any, are recognized as "Borrowings" on the Statement of Assets and Liabilities.

Fund

Utilization

Period (Days

Outstanding)

Average

Daily Balance

Outstanding

Average Annual

Interest Rate

All-American

$

8,570,875

5.52 %

Intermediate Duration

8,862,246

5.45 Limited Term

8,661,565

5.50 Short Term

6,944,039

5.53 ------

#### Portfolio of Investments September 30, 2025

#### High Yield
See Notes to Financial Statements

(Unaudited)

SHARES

DESCRIPTION

VALUE

LONG-TERM INVESTMENTS - 126.8%

211884

COMMON STOCKS - 0.0%

211884

MATERIALS - 0.0%

3,839

(a),(b)

Ingevity Corporation

$

211,874

978

(b),(c)

PALOUSE FIBER HOLDINGS

TOTAL MATERIALS

211,884

TOTAL COMMON STOCKS

(Cost $146,700)

211,884

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

24299892

CORPORATE BONDS - 0.2%

24299892

COMMERCIAL & PROFESSIONAL SERVICES - 0.0%

$

1,585,000

(d) College for Certain Inc

.800

%

06/01/60

1,159,740

TOTAL COMMERCIAL & PROFESSIONAL SERVICES

1,159,740

CONSUMER SERVICES - 0.1%

21,600,000

(c) Wild Rivers Water Park

.500

11/01/51

14,040,000

TOTAL CONSUMER SERVICES

14,040,000

REAL ESTATE MANAGEMENT & DEVELOPMENT - 0.1%

7,160,655

(c),(d)

Benloch Ranch Improvement Association0 0

.750

12/01/39

6,269,798

3,232,511

(c),(d)

Benloch Ranch Improvement Association No 12022 2022

.750

12/01/39

2,830,354

TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT

9,100,152

TOTAL CORPORATE BONDS

(Cost $32,802,695)

24,299,892

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

16631635909

MUNICIPAL BONDS - 126.6%

16631635909

ALABAMA - 2.0%

2,917,647

(d),(e)

Adamsville Solid Waste Disposal Authority, Alabama, Solid

Waste Disposal Revenue Bonds, Big Sky Environmental LLC

Project, Refunding Taxable Series 2017C

.000

09/01/37

16,000,000

(d),(e)

Adamsville Solid Waste Disposal Authority, Alabama, Solid

Waste Disposal Revenue Bonds, Big Sky Environmental LLC

Project, Series 2017A

.750

09/01/37

11,200,000

3,397,647

(d),(e)

Adamsville Solid Waste Disposal Authority, Alabama, Solid

Waste Disposal Revenue Bonds, Big Sky Environmental LLC

Project, Taxable Series 2017B

.750

09/01/37

2,378,353

10,000,000

(d) Alabama Private Colleges and University Facilities Authority,

Limited Obligation Bonds, University of Mobile Project, Series

2015A

.000

09/01/45

9,749,429

4,225,000

(d) Baldwin County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, Novelis Corporation

Project, Series 2025B, (AMT), (Mandatory Put 6/01/32)

.625

06/01/55

4,237,671

1,350,000

Birmingham Special Care Facilities Financing Authority,

Alabama, Revenue Bonds, Methodist Home for the Aging,

Refunding Series 2015-1

.750

06/01/35

1,350,427

2,500,000

Birmingham Special Care Facilities Financing Authority,

Alabama, Revenue Bonds, Methodist Home for the Aging,

Refunding Series 2015-1

.750

06/01/45

2,277,957

3,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025A, (Mandatory Put 5/01/32)

.250

05/01/56

3,122,216

35,000,000

(f) Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025A, (Mandatory Put 5/01/32), (UB)

.250

05/01/56

36,425,851

8,225,000

(f) Energy Southeast Cooperative District, Alabama, Energy

Supply Revenue Bonds, Series 2024B, (Mandatory Put

6/01/32), (UB)

.250

07/01/54

9,016,878

4,000,000

Homewood Educational Building Authority, Alabama, Revenue

Bonds, CHF-Horizons II, LLC Student Housing and Parking

Project at Samford University Series 2024C

.500

10/01/49

4,068,244

1,530,000

Homewood Educational Building Authority, Alabama, Revenue

Bonds, CHF-Horizons II, LLC Student Housing and Parking

Project at Samford University Series 2024C

.000

10/01/56

1,450,876

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ALABAMA

(continued)

$

1,645,000

Hoover Industrial Development Board, Alabama,

Environmental Improvement Revenue Bonds, United States

Steel Corporation Proejcet, Green Series 2020, (AMT),

(Mandatory Put 11/01/30)

.375

%

11/01/50

$

1,809,448

75,375,000

Hoover Industrial Development Board, Alabama,

Environmental Improvement Revenue Bonds, United States

Steel Corporation Proejcet, Series 2019, (AMT)

.750

10/01/49

76,181,460

4,600,000

Infirmary Health System Special Care Facilities Financing

Authority of Mobile, Alabama, Revenue Bonds, Infirmary Health

System, Inc., Series 2021

.000

02/01/46

4,056,940

4,440,000

Jefferson County, Alabama, Sewer Revenue Warrants, Series

2024

.500

10/01/53

4,652,592

4,700,000

Mobile County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC

Project, Series 2024A, (AMT)

.000

06/01/54

4,526,515

11,050,000

Mobile County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC

Project, Series 2024B, (AMT)

.750

12/01/54

10,228,996

31,390,000

Mobile Spring Hill College Educational Building Authority,

Alabama, Revenue Bonds, Spring Hill College Project, Series

2015

.875

04/15/45

22,043,957

7,630,000

(f) Southeast Energy Authority, Alabama, Revenue Bonds,

Cooperative District Energy Supply Series 2025A, (Mandatory

Put 6/01/35), (UB)

.000

01/01/56

8,061,442

3,000,000

Talladega, Alabama, Water and Sewer Revenue Warrants,

Series 2021A - AGM Insured

.000

09/01/51

2,065,087

47,420,000

(d) Tuscaloosa County Industrial Development Authority,

Alabama, Gulf Opportunity Zone Bonds, Hunt Refining Project,

Refunding Series 2019A

.250

05/01/44

47,306,230

TOTAL ALABAMA

266,210,598

ALASKA - 0.2%

10,000,000

(f) Anchorage, Alaska, Port Revenue Bonds, Series 2024A, (AMT),

(UB)

.500

02/01/60

9,223,949

10,760,000

(f) Anchorage, Alaska, Solid Waste Services Revenue Bonds,

Refunding Series 2022A, (UB)

.000

11/01/52

9,793,366

TOTAL ALASKA

19,017,315

ARIZONA - 1.9%

580,000

(d) Arizona Industrial Development Authority, Arizona, Education

Facility Revenue Bonds, Franklin Phonetic Charter School

Project, Refunding Series 2017

.500

07/01/37

577,267

1,390,000

(d) Arizona Industrial Development Authority, Arizona, Education

Facility Revenue Bonds, Franklin Phonetic Charter School

Project, Refunding Series 2017

.750

07/01/47

1,325,185

1,505,000

(d) Arizona Industrial Development Authority, Arizona, Education

Facility Revenue Bonds, Franklin Phonetic Charter School

Project, Refunding Series 2017

.875

07/01/52

1,430,206

700,000

(d) Arizona Industrial Development Authority, Arizona, Education

Facility Revenue Bonds, Montessori Academy Projects,

Refunding Series 2017A

.000

11/01/37

661,899

3,850,000

(d) Arizona Industrial Development Authority, Arizona, Education

Facility Revenue Bonds, Montessori Academy Projects,

Refunding Series 2017A

.250

11/01/50

3,367,281

1,280,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Academies of Math & Science Projects, Series

2017B

.125

07/01/47

1,194,767

565,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Academies of Math & Science Projects, Series

2017B

.250

07/01/51

525,418

3,000,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Academies of Math & Science Projects, Series

2022

.250

07/01/52

2,796,401

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

5,440,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Leman Academy of Excellence - Parker

Colorado Campus Project, Series 2019A

.000

%

07/01/49

$

4,880,482

2,260,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Mater Academy of Nevada - Mountain Vista

Campus Project, Series 2018A

.500

12/15/48

2,179,657

28,925,000

(d) Arizona Industrial Development Authority, Arizona, Hotel

Revenue Bonds, Provident Group Falcon Properties LLC,

Project, Senior Series 2022A-1

.150

12/01/57

18,654,840

37,730,000

(d) Arizona Industrial Development Authority, Arizona, Hotel

Revenue Bonds, Provident Group Falcon Properties LLC,

Project, Subordinate Series 2022B

.750

12/15/57

26,834,221

2,450,000

Arizona Industrial Development Authority, Arizona, Lease

Revenue Bonds, Children's National Prince County Regional

Medical Center, Series 2020A

.000

09/01/50

1,746,254

10,000,000

(d) Arizona Industrial Development Authority, Arizona, Lease

Revenue Bonds, Greenville University, Series 2022

.500

11/01/53

9,792,479

4,875,000

(d) Arizona Industrial Development Authority, Development First

Lien Revenue Bonds, Montanero Project, Alternative Minimum

Tax Series 2025, (AMT)

.750

12/01/55

4,955,867

11,260,000

(d),(e)

Arizona Industrial Development Authority, Education Facility

Revenue Bonds, Caurus Academy Project, Series 2018A

.500

06/01/50

7,882,000

3,970,000

Arizona Industrial Development Authority, Hospital Revenue

Bonds, Phoenix Children's Hospital, Series 2020A

.000

02/01/45

3,014,490

22,350,000

Arizona Industrial Development Authority, Multifamily Housing

Revenue Bonds, Bridgewater Avondale Project, Series 2017

.375

01/01/38

17,883,172

9,573,067

(d),(e)

Cahava Springs Revitalization District, Cave Creek, Arizona,

Special Assessment Bonds, Series 2017A

.000

07/01/41

6,701,147

2,000,000

(d) Coconino County Industrial Development Authority, Arizona,

Education Revenue Bonds, Flagstaff Arts & Leadership

Academy Project, Refunding Series 2020

.500

07/01/40

1,801,685

1,056,000

(d) Eastmark Community Facilities District 1, Mesa, Arizona,

Special Assessment Revenue Bonds, Assessment District 2,

Series 2014

.375

07/01/39

1,049,755

2,055,000

(d) Estrella Mountain Ranch Community Facilities District,

Goodyear, Arizona, Special Assessment Revenue Bonds,

Montecito Assessment District 2, Series 2015

.000

07/01/39

1,917,920

7,585,000

(d) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Gateway Academy Project, Series

2019A

.750

01/01/50

6,356,754

1,655,000

Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Villa Montessori, Inc Project, Series

2023A

.500

07/01/53

1,637,902

9,925,000

Phoenix Industrial Development Authority, Arizona, Multi-

Family Housing Revenue Bonds, 3rd and Indian Road Assisted

Living Project, Series 2016

.400

10/01/36

7,882,557

1,590,000

Pima County Industrial Development Authority, Arizona,

Charter School Revenue Bonds, Cambridge Academy-East, Inc.

Project, Series 2010

.625

04/01/40

1,590,274

2,870,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Champion Schools Project,

Series 2017

.000

06/15/37

2,884,093

4,865,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Champion Schools Project,

Series 2017

.125

06/15/47

4,868,968

3,445,000

(e) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Edkey Charter Schools

Project, Series 2016

.250

07/01/36

2,756,000

5,700,000

(e) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Edkey Charter Schools

Project, Series 2016

.375

07/01/46

4,560,000

6,830,000

(e) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Edkey Charter Schools

Project, Series 2016

.500

07/01/51

5,464,000

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

13,805,000

(d),(e)

Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Edkey Charter Schools

Project, Series 2019

.875

%

07/01/51

$

11,044,000

11,345,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, San Tan Montessori School

Project, Series 2017

.750

02/01/50

11,277,957

5,115,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Synergy Public Charter

School Project, Series 2020

.250

06/15/50

4,562,997

1,985,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Synergy Public Charter

School Project, Series 2020-1

.000

06/15/50

1,705,621

685,000

Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, The Paideia Academies

Project, 2019

.125

07/01/39

649,264

1,050,000

Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, The Paideia Academies

Project, 2019

.250

07/01/49

937,182

5,770,000

(d) Pima County Industrial Development Authority, Arizona,

Education Revenue Bonds, Noah Webster Schools Mesa

Project, Series 2015A

.000

12/15/34

5,682,428

80,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.250

12/01/28

84,391

21,530,000

(d) Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.500

12/01/37

22,899,407

17,000,000

(d) Sierra Vista Industrial Development Authority, Arizona,

Economic Development Revenue Bonds, Convertible Capital

Appreciation Revenue Bonds, Series 2021A

.375

10/01/56

13,787,092

1,000,000

(d) Sierra Vista Industrial Development Authority, Arizona,

Economic Development Revenue Bonds, Taxable Series 2021B

.250

10/01/36

864,567

7,360,000

(d) Sierra Vista Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, AmeriSchools Academy

Project, Series 2022

.000

06/15/57

7,345,447

2,130,000

Tempe Industrial Development Authority, Arizona, Revenue

Bonds, Friendship Village of Tempe Project, Refunding Series

2021B

.000

12/01/56

1,652,567

2,140,000

(d) Tempe Industrial Development Authority, Arizona, Revenue

Bonds, Mirabella at ASU Project, Series 2017A

.000

10/01/37

1,609,811

3,365,000

(d) Tempe Industrial Development Authority, Arizona, Revenue

Bonds, Mirabella at ASU Project, Series 2017A

.125

10/01/47

2,230,665

3,085,000

(d) Tempe Industrial Development Authority, Arizona, Revenue

Bonds, Mirabella at ASU Project, Series 2017A

.125

10/01/52

1,984,756

4,340,000

(d) Yavapai County Industrial Development Authority, Arizona,

Education Revenue Bonds, Arizona Agribusiness and Equine

Center Inc Project, Series 2012

.125

03/01/42

4,125,368

TOTAL ARIZONA

251,616,461

ARKANSAS - 0.4%

16,440,000

(d) Arkansas Development Finance Authority, Arkansas,

Environmental Improvement Revenue Bonds, United States

Steel Corporation, Green Series 2022, (AMT)

.450

09/01/52

16,436,451

13,250,000

Arkansas Development Finance Authority, Arkansas,

Environmental Improvement Revenue Bonds, United States

Steel Corporation, Green Series 2023, (AMT)

.700

05/01/53

13,458,842

8,685,000

(d) Arkansas Development Finance Authority, Charter School

Revenue Bonds, Academy of Math and Science - Little Rock

Project Series 2024A

.000

07/01/59

7,847,574

1,000,000

(d) Arkansas Development Finance Authority, Industrial

Development Revenue Bonds, Hybar Steel Project, Green

Series 2023A, (AMT)

.875

07/01/48

1,075,245

15,000,000

(f) Springdale, Arkansas, Sales and Use Tax Revenue Bonds,

Refunding & Improvement Series 2023B - BAM Insured, (UB)

.125

08/01/50

14,107,680

TOTAL ARKANSAS

52,925,792

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA - 11.9%

$

9,400,000

Alameda Corridor Transportation Authority, California,

Revenue Bonds, Refunding Second Subordinate Lien Series

2022C - AGM Insured

.400

%

10/01/49

$

5,443,443

15,440,000

Alameda Corridor Transportation Authority, California,

Revenue Bonds, Refunding Second Subordinate Lien Series

2022C - AGM Insured

.450

10/01/52

8,852,138

23,750,000

Alameda Corridor Transportation Authority, California, Revenue

Bonds, Refunding Senior Lien Series 2022B

.300

10/01/47

13,851,345

5,720,000

Alameda Corridor Transportation Authority, California, Revenue

Bonds, Refunding Senior Lien Series 2022B

.350

10/01/48

3,317,970

20,430,000

Alameda Corridor Transportation Authority, California, Revenue

Bonds, Refunding Senior Lien Series 2022B

.375

10/01/49

11,775,429

11,890,000

Alameda Corridor Transportation Authority, California, Revenue

Bonds, Refunding Senior Lien Series 2022B

.400

10/01/50

6,836,726

1,985,000

Anaheim Public Financing Authority, California, Lease Revenue

Bonds, Public Improvement Project, Series 1997C - AGM

Insured

.000

09/01/35

1,407,377

300,000

Antelope Valley Healthcare District, California, Revenue Bonds,

Series 2016A

.250

03/01/36

301,243

9,075,000

Antelope Valley Healthcare District, California, Revenue Bonds,

Series 2016A

.000

03/01/41

8,714,825

10,900,000

Antelope Valley Healthcare District, California, Revenue Bonds,

Series 2016A

.000

03/01/46

9,904,019

1,700,000

(g) Bakersfield City School District, Kern County, California,

General Obligation Bonds, Series 2012C

.000

05/01/42

1,322,882

1,770,000

Blythe Redevelopment Agency, California, Tax Allocation

Bonds, Redevelopment Project 1, Series 2011

.750

05/01/38

1,777,849

8,990,000

(f) California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023G,

(Mandatory Put 4/01/30), (UB)

.250

11/01/54

9,752,271

3,500,000

(d) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Glendale Properties, Senior Series

2021A-1

.000

02/01/56

2,842,552

9,500,000

(d) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Serenity at Larkspur Apartments,

Series 2020A

.000

02/01/50

6,173,488

38,790,000

(d) California Community Housing Agency, Workforce Housing

Revenue Bonds, Annadel Apartments, Series 2019A

.000

04/01/49

31,430,835

15,000,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Fresno County Tobacco

Funding Corporation, Subordinate Turbo Capital Series 2006A

.000

06/01/46

4,017,622

14,700,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Golden Gate Tobacco

Funding Corporation, Turbo, Series 2007A

.000

06/01/57

2,336,552

33,000,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020B-2

.000

06/01/55

6,157,183

65,000,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Stanislaus County Tobacco

Funding Corporation, Series 2006A

.000

06/01/46

14,623,550

28,600,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Stanislaus County Tobacco

Funding Corporation, Subordinate Turbo Capital Appreciation

Series 2006B

.000

06/01/46

6,434,362

31,595,000

(d) California Enterprise Development Authority, Charter School

Revenue Bonds, Norton Science and Language Academy

Project, Series 2020

.250

07/01/58

32,114,169

29,910,000

(f) California Health Facilities Financing Authority, Revenue Bonds,

Cedars-Sinai Health System, Series 2021A - BAM Insured, (UB)

.000

08/15/48

28,854,536

10,000,000

California Health Facilities Financing Authority, Revenue Bonds,

Kaiser Permanente System, Series 2017A-2

.000

11/01/44

9,277,299

7,500,000

(f) California Health Facilities Financing Authority, Revenue Bonds,

Kaiser Permanente System, Series 2017A-2, (UB)

.000

11/01/44

6,957,974

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

2,500,000

California Housing Finance Agency, California, Multifamily

Housing Revenue Bonds, Power Station Block 7B, Limited

Obligation Senior Series 2024L

.200

%

12/01/27

$

2,551,494

1,500,000

California Municipal Finance Authority Charter School Revenue

Bonds, John Adams Academies, Inc. Project, Series 2015A

.250

10/01/45

1,415,900

640,000

(d) California Municipal Finance Authority Charter School Revenue

Bonds, River Charter Schools Project, Series 2018A

.500

06/01/38

640,904

1,595,000

(d) California Municipal Finance Authority Charter School Revenue

Bonds, River Charter Schools Project, Series 2018A

.500

06/01/48

1,506,987

1,550,000

(d) California Municipal Finance Authority Charter School Revenue

Bonds, River Charter Schools Project, Series 2018A

.500

06/01/53

1,445,991

1,000,000

(d) California Municipal Finance Authority, Educational Facilities

Revenue Bonds, Westside Neighborhood School Project,

Series 2024

.200

06/15/54

1,042,742

2,300,000

(d) California Municipal Finance Authority, Educational Facilities

Revenue Bonds, Westside Neighborhood School Project,

Series 2024

.375

06/15/64

2,408,138

2,830,000

(d) California Municipal Finance Authority, Revenue Bonds,

American Musical and Dramatic Academy Inc. AMDA Inc

Project, Taxable Series 2023B

.500

07/01/30

2,885,222

12,780,000

California Municipal Finance Authority, Revenue Bonds,

American Musical and Dramatic Academy Inc., Series 2023A

.250

07/01/53

12,981,708

500,000

(d) California Municipal Finance Authority, Revenue Bonds,

Goodwill Industries of Sacramento Valley & Northern Nevada

Project, Series 2012A

.625

01/01/32

488,969

515,000

(d) California Municipal Finance Authority, Revenue Bonds,

Goodwill Industries of Sacramento Valley & Northern Nevada

Project, Series 2012A

.875

01/01/42

485,083

1,275,000

California Municipal Finance Authority, Revenue Bonds,

Goodwill Industries of Sacramento Valley & Northern Nevada

Project, Series 2014A

.000

01/01/35

1,097,958

1,000,000

California Municipal Finance Authority, Revenue Bonds, Linxs

APM Project, Senior Lien Series 2018A - AGM Insured, (AMT)

.000

12/31/47

895,308

7,000,000

(d) California Municipal Finance Authority, Revenue Bonds,

Simpson University, Series 2020A

.000

10/01/50

6,849,854

3,720,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2022A

.250

09/01/52

3,792,797

1,250,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2024B

.000

09/01/54

1,253,243

2,160,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2020-6, County of Placer-

PV400, Series 2022

.250

09/01/52

2,199,734

1,250,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-11 Improvement

Area A Hesperia Silverwood, Series 2024

.125

09/01/59

1,258,995

3,500,000

(d) California Pollution Control Financing Authority, Water

Furnishing Revenue Bonds, Poseidon Resources Channelside

LP Desalination Project, Series 2012, (AMT)

.000

11/21/45

3,490,172

7,910,000

(d) California Public Finance Authority, Charter School Lease

Revenue Bonds, California Crosspoint Academy Project, Series

2020A

.125

07/01/55

6,336,476

870,000

(d) California Public Finance Authority, Charter School Lease

Revenue Bonds, Laverne Elementary Preparatory Academy

Project, Series 2019A

.000

06/15/39

867,299

1,000,000

(d) California Public Finance Authority, Charter School Lease

Revenue Bonds, Laverne Elementary Preparatory Academy

Project, Series 2019A

.000

06/15/49

919,053

2,055,000

California Public Finance Authority, Charter School Lease

Revenue Bonds, Multicultural Learning Center Project, Series

2017A

.125

06/15/37

2,076,829

3,025,000

California Public Finance Authority, Charter School Lease

Revenue Bonds, Multicultural Learning Center Project, Series

2017A

.250

06/15/47

3,033,882

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

20,000,000

(f) California Public Finance Authority, Revenue Bonds, Sharp

HealthCare, Series 2017A, (UB)

.000

%

08/01/47

$

18,974,562

1,800,000

(d) California Public Finance Authority, University Housing

Revenue Bonds, National Campus Community Development

- Claremont Properties LLC Claremont Colleges Project,

Refunding Series 2023A

.500

07/01/50

1,856,203

2,360,000

(d) California School Finance Authority Charter School Facility

Revenue Bonds, Grimmway Schools-Obligated Group, Series

2016A

.000

07/01/46

2,267,361

6,930,000

(d) California School Finance Authority, California, Charter School

Revenue Bonds, Alta Public Schools - Obligated Group, Series

2020A

.000

06/01/59

6,238,863

650,000

(d) California School Finance Authority, California, Charter School

Revenue Bonds, Alta Public Schools - Obligated Group,

Taxable Series 2020B

.000

06/01/31

610,293

500,000

(d) California School Finance Authority, California, Charter School

Revenue Bonds, Girls Athletic Leadership School Los Angeles

Project, Series 2021A

.000

06/01/51

357,877

1,390,000

(d) California School Finance Authority, California, Charter School

Revenue Bonds, Girls Athletic Leadership School Los Angeles

Project, Series 2021A

.000

06/01/61

934,642

2,770,000

(d) California School Finance Authority, California, Charter School

Revenue Bonds, Hayward Twin Oaks Montessori Charter

School Project, Series 2024A

.125

06/15/64

2,521,176

5,200,000

California School Finance Authority, California, Charter School

Revenue Bonds, TEACH Public Schools Obligated Group,

Series 2016A

.750

06/01/42

5,212,239

5,065,000

California School Finance Authority, California, Charter School

Revenue Bonds, TEACH Public Schools Obligated Group,

Series 2016A

.875

06/01/52

5,070,965

1,000,000

(d) California School Finance Authority, California, Charter School

Revenue Bonds, TEACH Public Schools Obligated Group,

Series 2019A

.000

06/01/49

918,024

8,810,000

(d) California School Finance Authority, Charter School Lease

Revenue Bonds, Pathways to College Project, Series 2023A

.500

06/15/63

8,863,038

1,175,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Arts in Action Charter Schools - Obligated Group,

Series 2020A

.000

06/01/40

1,063,741

1,850,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Arts in Action Charter Schools - Obligated Group,

Series 2020A

.000

06/01/50

1,546,876

2,930,000

(d) California School Finance Authority, Charter School Revenue

Bonds, CIty Charter School Obligated Group, Series 2016A

.000

06/01/52

2,596,139

875,000

(d),(h)

California School Finance Authority, Charter School Revenue

Bonds, Escuela Popular Charter School, Series 2017, (Pre-

refunded 7/01/27)

.250

07/01/37

928,586

375,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Escuela Popular Charter School, Series 2017

.250

07/01/37

380,504

2,940,000

(d),(h)

California School Finance Authority, Charter School Revenue

Bonds, Escuela Popular Charter School, Series 2017, (Pre-

refunded 7/01/27)

.500

07/01/50

3,128,884

1,885,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Escuela Popular Charter School, Series 2017

.500

07/01/50

1,893,955

1,680,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Kepler Neighborhood School, Series 2017A

.875

05/01/47

1,651,634

1,165,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Larchmont Charter School Project , Series 2018A

.000

06/01/43

1,111,874

6,865,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Russell Westbrook Why Not Academy Obligated

Group, Series 2021A

.000

06/01/41

5,696,549

3,000,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Russell Westbrook Why Not Academy Obligated

Group, Series 2021A

.000

06/01/51

2,217,977

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

1,600,000

California School Finance Authority, Charter School Revenue

Bonds, Santa Clarita Valley International School Project, Series

2021A

.000

%

06/01/51

$

1,110,743

10,000,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Scholarship Prep Public Schools Obligated Group,

Series 2020A

.000

06/01/60

8,354,205

3,615,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Urban Discovery Academy Project, Series 2024A

.000

06/01/54

3,277,553

375,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Urban Discovery Academy Project, Series 2024B

.000

06/01/34

384,003

4,810,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Valley International Preparatory High School Project,

Series 2022A

.125

03/01/52

3,493,389

3,750,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Valley International Preparatory High School Project,

Series 2022A

.250

03/01/62

2,655,425

1,280,000

(d) California School Finance Authority, School Facility Revenue

Bonds, Value Schools, Series 2016A

.750

07/01/41

1,288,823

2,250,000

(d) California School Finance Authority, School Facility Revenue

Bonds, Value Schools, Series 2016A

.000

07/01/51

2,263,837

3,000,000

(f) California State, General Obligation Bonds, Refunding Various

Purpose Series 2021

.000

12/01/46

2,369,403

1,000,000

California State, General Obligation Bonds, Refunding Various

Purpose Series 2021

.000

12/01/49

765,646

500,000

California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2014A

.250

12/01/34

500,353

12,470,000

California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2014A

.250

12/01/44

12,469,724

28,230,000

California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2014A

.500

12/01/54

28,228,329

12,090,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/41

12,094,535

7,135,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/46

6,753,905

20,455,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.250

12/01/56

19,744,403

12,035,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.500

12/01/58

12,009,800

8,150,000

(d) California Statewide Communities Development Authority,

Revenue Bonds, Lancer Educational Student Housing Project,

Refunding Series 2016A

.000

06/01/46

7,708,108

3,245,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2015-2 Rio

Bravo, Series 2015A

.375

09/01/35

3,248,955

3,285,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2015-2 Rio

Bravo, Series 2015A

.625

09/01/45

3,287,216

3,660,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2016-02 Delta

Coves, Series 2022

.500

09/01/52

3,737,394

1,805,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2011A

.000

09/02/41

1,804,849

5,000,000

(f) Central Unified School District, Fresno County, California,

General Obligation Bonds, 2020 Election Series 2021A - AGM

Insured

.000

08/01/48

4,794,025

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

1,000,000

(d) CMFA Special Finance Agency XII, California, Essential Housing

Revenue Bonds, Allure Apartments Project, Series 2022A-2

.250

%

02/01/57

$

710,461

3,250,000

(d) CMFA Special Finance Agency, California, Essential Housing

Revenue Bonds, Latitude 33, Senior Series 2021A-1

.000

12/01/56

2,107,302

3,290,000

(d) CMFA Special Financing Agency VIII, California, Essential

Housing Revenue Bonds, Elan Huntington Beach, Senior Lien

Series 2021A-1

.000

08/01/56

2,190,126

65,000

Compton Public Finance Authority, California, Lease Revenue

Bonds, Refunding & Various Capital Projects, Series 2008 -

AMBAC Insured

.250

09/01/27

65,070

1,000,000

County of Sacramento, California, McClellan Park Community

Facilities District No. 2004-1 Special Tax Bonds Series 2017

.000

09/01/35

1,019,497

46,840,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Altana Glendale, Series

2021A-2

.000

10/01/56

35,574,708

12,950,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Center City Anaheim, Series

2020A

.000

01/01/54

11,641,014

8,000,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Escondido Portfolio, Social

Senior Lien Series 2021A-2

.000

06/01/58

6,225,190

5,025,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Jefferson-Anaheim Series

2021A-2

.125

08/01/56

3,688,313

2,095,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Moda at Monrovia Station,

Social Series 2021A-1

.400

10/01/46

1,630,778

8,000,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Moda at Monrovia Station,

Social Series 2021A-2

.000

10/01/56

6,028,795

9,735,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Monterrey Station

Apartments, Series 2021B

.000

07/01/58

6,144,787

2,040,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Oceanaire-Long Beach,

Social Series 2021A-2

.000

09/01/56

1,439,973

5,000,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Orange City Portfolio,

Senior Lien Series 2021A-2

.000

03/01/57

3,315,754

4,825,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Pasadena Portfolio Social

Bond, Mezzanine Senior Series 2021B

.000

12/01/56

3,639,132

965,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Towne-Glendale, Mezzanine

Lien Social Series 2022B

.000

09/01/37

971,816

4,375,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Vineyard Gardens

Apartments, Senior Lien Series 2021A

.250

10/01/58

3,039,416

21,000,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Westgate Phase 1-Pasadena

Apartments, Mezzanine Lien Series 2021B

.000

06/01/57

6,251,937

9,400,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Westgate Phase 1-Pasadena

Apartments, Senior Lien Series 2021A-2

.125

06/01/57

5,585,168

27,280,000

CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Wood Creek Apartments,

Mezzanine Lien Series 2021A-2

.000

12/01/58

19,010,829

8,030,000

CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Wood Creek Apartments,

Mezzanine Lien Series 2021B

.000

12/01/59

4,378,559

30,000

CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Wood Creek Apartments,

Senior Lien Series 2021A-1

.000

12/01/49

20,026

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

5,035,000

Downey Unified School District, Los Angeles County, California,

General Obligation Bonds, Election 2022 Series 2023A

.000

%

08/01/52

$

4,650,631

5,000,000

(f) Dublin Unified School District, Alameda County, California,

General Obligation Bonds, Election 2020 Series 2023B

.125

08/01/49

4,863,823

3,460,000

Fairfield, California, Special Tax Bonds, Community Facilities

District 2007-1 Fairfield Commons Project, Series 2008

.875

09/01/38

3,497,311

2,295,000

Foothill/Eastern Transportation Corridor Agency, California, Toll

Road Revenue Bonds, Refunding Senior Lien Series 2021A

.000

01/15/46

2,123,961

2,500,000

Fresno Unified School District, Fresno County, California,

General Obligation Bonds, Election 2020 Series 2021A

.000

08/01/55

1,792,573

4,095,000

(f) Glendale Community College District, Los Angeles County,

California, General Obligation Bonds, Election 2016 Taxable

Refunding Series 2020B

.000

08/01/50

3,770,321

575,765,000

Golden State Tobacco Securitization Corporation, California,

Tobacco Settlement Asset-Backed Bonds, Capital Appreciation

Series 2021B-2

.000

06/01/66

61,322,945

3,000,000

Golden State Tobacco Securitization Corporation, California,

Tobacco Settlement Asset-Backed Revenue Bonds, Series

2022A-1

.000

06/01/51

2,961,346

5,760,000

Independent Cities Finance Authority, California, Mobile Home

Park Revenue Bonds, Augusta Communities Mobile Home

Park, Refunding Series 2022A

.250

05/15/56

5,914,017

160,000

Indio Redevelopment Agency, California, Tax Allocation Bonds,

Merged Area Redevelopment Project, Subordinate Lien

Refunding Series 2008A

.250

08/15/28

160,448

61,000,000

Inland Empire Tobacco Securitization Authority, California,

Tobacco Settlement Asset-Backed Bonds, Series 2007C-1.

Turbo Capital Appreciation

.000

06/01/36

29,041,728

187,500,000

Inland Empire Tobacco Securitization Authority, California,

Tobacco Settlement Asset-Backed Bonds, Series 2007C-2.

Turbo Capital Appreciation

.000

06/01/47

32,260,388

1,945,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 1, Series 2019

.400

09/01/38

1,975,914

3,095,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 1, Series 2019

.500

09/01/43

3,102,879

4,830,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 1, Series 2019

.600

09/01/49

4,838,374

1,945,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 2, Series 2019

.500

09/01/43

1,949,952

3,665,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 2, Series 2019

.600

09/01/49

3,671,354

2,410,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 3, Series 2019

.400

09/01/38

2,448,304

3,820,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 3, Series 2019

.500

09/01/43

3,829,725

7,205,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 3, Series 2019

.600

09/01/49

7,222,512

835,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1, Central Lathrop Specific Plan Improvement

Areas 4, Series 2019

.400

09/01/38

848,271

1,335,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1, Central Lathrop Specific Plan Improvement

Areas 4, Series 2019

.500

09/01/43

1,338,398

2,515,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1, Central Lathrop Specific Plan Improvement

Areas 4, Series 2019

.600

09/01/49

2,519,361

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

5,000,000

Lennox School District, Los Angeles County, California, General

Obligation Bonds, Election 2016 Series 2017 - AGM Insured

.000

%

08/01/47

$

4,818,714

20,925,000

(f),(g)

Long Beach Community College District, California, General

Obligation Bonds, Refunding 2008 Election Series 2012B -

BAM Insured, (UB)

.000

08/01/49

14,442,761

22,355,000

(f) Long Beach Unified School District, Los Angeles County,

California, General Obligation Bonds, Election of 2016, Series

2017A - BAM Insured, (UB)

.000

08/01/45

21,337,901

1,765,000

Los Alamitos Unified School District, Orange County, California,

Certificates of Participation, Series 2012

.050

08/01/42

1,908,081

17,000,000

(f) Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding

Subordinate Green Series 2025A, (AMT), (UB)

.250

05/15/50

17,783,993

5,505,000

(f) Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding

Subordinate Green Series 2025A, (AMT), (UB)

.000

05/15/55

5,608,616

17,250,000

(f) Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding

Subordinate Green Series 2025A, (AMT), (UB)

.500

05/15/55

18,385,388

2,000,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Refunding

Subordinate Series 2022G, (AMT)

.000

05/15/47

1,831,960

13,600,000

(f) Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Senior Lien Series

2020C, (AMT), (UB)

.000

05/15/50

12,147,315

10,000,000

(f) Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Senior Series 2022H,

(AMT), (UB)

.000

05/15/47

10,163,766

5,950,000

(f) Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Subordinate Lien

Series 2016B, (AMT), (UB)

.000

05/15/46

5,959,528

29,800,000

(f) Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Subordinate Lien

Series 2018A, (AMT), (UB)

.250

05/15/48

30,129,213

7,500,000

(f) Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Subordinate Lien

Series 2019E, (UB)

.000

05/15/49

7,651,805

12,125,000

(f) Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Subordinate Lien

Series 2021D, (AMT), (UB)

.000

05/15/46

12,324,387

1,750,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Subordinate Lien

Series 2022A, (AMT)

.000

05/15/49

1,574,281

3,902,112

(e) Northstar Community Services District, California, Special Tax

Bonds, Community Facilities District 1, Refunding Series 2005

.908

09/01/28

1,053,570

2,305,000

Orland Joint Unified School District, Glenn and Tehama

Counties, California, General Obligation Bonds, 2008 Election,

Series 2012B

.000

08/01/51

1,825,601

970,000

Orland Joint Unified School District, Glenn and Tehama

Counties, California, General Obligation Bonds, 2008 Election,

Series 2013C

.550

08/01/43

735,082

7,730,000

Oroville, California, Revenue Bonds, Oroville Hospital Series

2019

.250

04/01/39

6,291,749

1,000,000

Oroville, California, Revenue Bonds, Oroville Hospital Series

2019

.250

04/01/49

800,602

7,250,000

Oroville, California, Revenue Bonds, Oroville Hospital Series

2019

.250

04/01/54

5,652,190

1,230,000

Palmdale Community Redevelopment Agency, California,

Tax Allocation Bonds, Merged Redevelopment Project Areas,

Series 2002 - AMBAC Insured

.000

12/01/31

1,028,835

1,225,000

Palmdale Community Redevelopment Agency, California,

Tax Allocation Bonds, Merged Redevelopment Project Areas,

Series 2002 - AMBAC Insured

.000

12/01/32

985,479

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

2,985,000

River Delta Unified School District, Sacramento and Solano

Counties, California, General Obligation Bonds, School

Faciliteis Improvement District 2, Election 2004 Series 2008 -

AGM Insured

.000

%

04/01/48

$

1,073,015

4,165,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area

1, Subordinate Series 2022B-2

.000

09/01/42

4,223,711

3,000,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area

1, Subordinate Series 2022B-2

.250

09/01/47

3,055,880

5,410,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area

1, Subordinate Series 2022B-2

.000

09/01/52

5,321,613

7,100,000

Riverside County Redevelopment Agency, California, Tax

Allocation Bonds, Interstate 215 Corridor Redevelopment

Project Area, 2nd Lien Series 2011E

.000

12/01/41

3,456,364

7,075,000

Riverside County Redevelopment Agency, California, Tax

Allocation Bonds, Interstate 215 Corridor Redevelopment

Project Area, 2nd Lien Series 2011E

.000

12/01/42

3,244,202

7,050,000

Riverside County Redevelopment Agency, California, Tax

Allocation Bonds, Interstate 215 Corridor Redevelopment

Project Area, 2nd Lien Series 2011E

.000

12/01/43

3,050,359

5,600,000

Riverside County Redevelopment Agency, California, Tax

Allocation Bonds, Interstate 215 Corridor Redevelopment

Project Area, 2nd Lien Series 2011E

.000

12/01/44

2,291,355

20,000,000

(f) Riverside County Transportation Commission, California,

Toll Revenue Second Lien Bonds, RCTC 91 Express Lanes,

Refunding Series 2021C, (UB)

.000

06/01/47

17,739,324

550,000

Rocklin Unified School District, Placer County, California,

Special Tax Bonds, Community Facilities District 2, Series 2007

- NPFG Insured

.000

09/01/36

369,501

660,000

Rocklin Unified School District, Placer County, California,

Special Tax Bonds, Community Facilities District 2, Series 2007

- NPFG Insured

.000

09/01/37

418,641

2,500,000

(d),(f)

Sacramento City Financing Authority California, Lease Revenue

Bonds, Master Lease Program Facilities Projects, Tender Option

Bond Trust 2016-XG0100 - AMBAC Insured, (IF)

.583

12/01/30

3,620,376

3,000,000

(d),(f)

Sacramento City Financing Authority California, Lease Revenue

Bonds, Master Lease Program Facilities Projects, Tender Option

Bond Trust 2016-XG0100 - AMBAC Insured, (IF)

.763

12/01/30

4,344,451

6,580,000

(d),(f)

Sacramento City Financing Authority California, Lease Revenue

Bonds, Master Lease Program Facilities Projects, Tender Option

Bond Trust 2016-XG0100 - AMBAC Insured, (IF)

.870

12/01/33

10,863,393

4,135,000

Sacramento, California, Special Tax Bonds, Community

Facilities District 05-1 College Square, Series 2007

.900

09/01/37

4,170,154

2,150,000

(d) Sacramento, California, Special Tax Bonds, Community

Facilities District 2018-01 Railyards, Improvements Series 2022

.250

09/01/42

2,180,038

4,000,000

(d) Sacramento, California, Special Tax Bonds, Community

Facilities District 2018-01 Railyards, Improvements Series 2022

.250

09/01/47

4,011,732

3,250,000

(d) Sacramento, California, Special Tax Bonds, Community

Facilities District 2018-01 Railyards, Improvements Series 2022

.375

09/01/52

3,254,094

4,908,000

(d) San Bernardino City, California, Pension Obligation Bonds,

Taxable Series 2020A

.750

12/15/46

5,002,308

1,645,000

San Bernardino County Financing Authority, California,

Revenue Bonds, Courthouse Facilities Project, Series 2007 -

NPFG Insured

.500

06/01/37

1,715,350

7,205,000

(f) San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, International Senior Series 2023B,

(AMT), (UB)

.000

07/01/53

7,342,162

7,000,000

(f) San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, International Senior Series 2023B,

(AMT), (UB)

.250

07/01/58

7,245,631

2,900,000

(f) San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Subordinate Series 2019B, (AMT), (UB)

.000

07/01/44

2,625,363

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

12,840,000

(f) San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Subordinate Series 2019B, (AMT), (UB)

.000

%

07/01/49

$

12,953,139

23,370,000

(f) San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Subordinate Series 2021B - AGM

Insured, (AMT), (UB)

.000

07/01/51

20,746,704

10,735,000

(f) San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Subordinate Series 2021B, (AMT), (UB)

.000

07/01/51

10,840,679

11,840,000

San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Subordinate Series 2021B, (AMT)

.000

07/01/56

10,268,054

12,520,000

(f) San Diego County Regional Airport Authority, California,

Airport Revenue Bonds, Subordinate Series 2021B, (AMT), (UB)

.000

07/01/56

12,622,775

7,000,000

(f) San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2019A, (AMT), (UB)

.000

05/01/44

7,075,301

1,455,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2019A, (AMT)

.000

05/01/49

1,463,531

23,000,000

(f) San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2019A, (AMT), (UB)

.000

05/01/49

23,134,854

86,495,000

(f) San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2018D,

(AMT), (UB)

.250

05/01/48

87,375,623

4,000,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2019E,

(AMT)

.000

05/01/50

4,032,516

28,600,000

(f) San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2019E,

(AMT), (UB)

.000

05/01/50

28,832,489

17,460,000

(f) San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2022A,

(AMT), (UB)

.000

05/01/52

15,203,346

20,500,000

(f) San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2022A,

(AMT), (UB)

.000

05/01/52

20,772,006

5,435,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2025A,

(AMT)

.250

05/01/55

5,640,653

12,370,000

(f) San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2025A,

(AMT), (UB)

.250

05/01/55

12,838,065

9,130,000

(f) San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2025A,

(AMT), (UB)

.500

05/01/55

9,729,130

43,630,000

(f) San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2018D,

(AMT), (UB)

.000

05/01/48

43,864,913

2,000,000

(d) San Francisco City and County Infrastructure and Revitalization

Financing District 1 Treasure Island, California, Tax Increment

Revenue Bonds, Facilities Increment Series 2022A

.000

09/01/52

1,913,814

20,035,000

(f),(g)

San Mateo Union High School District, San Mateo County,

California, General Obligation Bonds, Election 2010 Series

2011A - BAM Insured, (UB)

.000

07/01/51

15,586,503

6,595,000

Santa Clara County Housing Authority, California, Multifamily

Housing Revenue Bonds, Blossom River Project, Series 1998A,

(AMT)

.500

09/01/39

6,594,253

7,500,000

Silicon Valley Tobacco Securitization Authority, California,

Tobacco Settlement Asset-Backed Bonds, Santa Clara County

Tobacco Securitization Corporation, Series 2007A

.000

06/01/47

1,757,632

94,800,000

Silicon Valley Tobacco Securitization Authority, California,

Tobacco Settlement Asset-Backed Bonds, Santa Clara

County Tobacco Securitization Corporation, Turbo Capital

Appreciation Series 2007C

.000

06/01/56

9,153,243

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

1,145,000

(d) Temecula Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 16-01, Series 2017

.500

%

09/01/27

$

1,187,761

3,605,000

(d) Temecula Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 16-01, Series 2017

.750

09/01/32

3,772,110

4,890,000

(d) Temecula Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 16-01, Series 2017

.125

09/01/37

5,078,913

13,145,000

(d) Temecula Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 16-01, Series 2017

.250

09/01/47

13,489,852

150,400,000

Tobacco Securitization Authority of Southern California,

Tobacco Settlement Asset-Backed Bonds, San Diego County

Tobacco Asset Securitization Corporation, First Subordinate

CABs, Series 2006B

.000

06/01/46

36,211,477

27,875,000

(f) University of California Regents, Medical Center Pooled

Revenue Bonds, Series 2022P, (UB)

.000

05/15/53

25,548,107

4,000,000

Walnut Creek School District, Contra Costa County, California,

General Obligation Bonds, Election 2022 Series 2023A

.000

09/01/52

3,694,225

TOTAL CALIFORNIA

1,562,013,651

COLORADO - 13.0%

4,000,000

Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2021

.375

12/01/52

3,241,711

17,525,000

(d) Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2024

.750

12/01/54

17,316,337

464,000

Amber Creek Metropolitan District (In the City of Thornton),

Adams County, Colorado, Limited Tax (Convertible

to Unlimited Tax), General Obligation Refunding and

Improvement Bonds, Series 2017B

.750

12/15/47

464,099

903,000

Antelope Heights Metropolitan District, Colorado, Limited Tax

General Obligation Bonds, Junior Lien Series Series 2021B

.500

12/15/37

866,663

1,825,000

Arvada West Town Center Business Improvement District,

Colorado, General Obligation Bonds, Refunding Series 2015

.450

12/01/39

1,825,207

500,000

Aurora Crossroads Metropolitan District 2, Colorado, Limited

Tax General Obligation Bonds, Series 2020A

.000

12/01/50

481,066

2,290,000

Aurora Crossroads Metropolitan District 2, Colorado, Limited

Tax General Obligation Bonds, Subordinate Series 2020B

.750

12/15/50

2,302,642

131,889,000

Aurora Highlands Community Authority Board, Adams

County, Colorado, Special Tax Revenue Bonds, Refunding &

Improvement Series 2021A

.750

12/01/51

124,712,748

1,250,000

Aviation Station North Metropolitan District 2, Denver County,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2019A

.000

12/01/39

1,250,277

4,279,000

Aviation Station North Metropolitan District 2, Denver County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2019B

.750

12/15/48

4,298,086

3,192,000

Banning Lewis Ranch Metropolitan District 4, Colorado Springs,

El Paso County, Colorado, Limited Tax General Obligation

Bonds, Series 2018A

.750

12/01/48

3,192,123

2,188,000

Banning Lewis Ranch Metropolitan District 5, Colorado Springs,

El Paso County, Colorado, Limited Tax General Obligation

Bonds, Series 2018A

.750

12/01/48

2,188,084

2,500,000

Banning Lewis Ranch Regional Metropolitan District, Colorado

Springs, El Paso County, Colorado, Limited Tax General

Obligation Bonds, Series 2018A

.375

12/01/48

2,384,157

2,396,000

Base Village Metropolitan District 2, Colorado, General

Obligation Bonds, Refunding Series 2016A

.500

12/01/36

2,397,406

5,010,000

Base Village Metropolitan District 2, Colorado, General

Obligation Bonds, Refunding Series 2016A

.750

12/01/46

5,010,998

3,800,000

Baseline Metropolitan District 1, In the City and County of

Broomfield, Colorado, Special Revenue Bonds, Subordinate

Series 2024B

.750

12/15/54

3,855,133

3,210,000

(d) Bella Mesa Metropolitan District, Castle Rock, Colorado,

Limited Tax General Obligation Bonds, Convertible Capital

Appreciation Series 2020A-3

.750

12/01/49

3,266,682

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

2,880,000

Belleview Place Metropolitan District, Arapahoe County,

Colorado, Limited Tax General Obligation Bonds, Convertible

to Unlimited Tax Series 2020A-3

.000

%

12/01/50

$

2,611,005

157,000

Belleview Place Metropolitan District, Arapahoe County,

Colorado, Limited Tax General Obligation Bonds, Convertible

to Unlimited Tax Series 2020B-3

.000

12/15/50

158,028

1,735,000

Belleview Village Metropolitan District, Jefferson County,

Colorado, Limited Tax General Obligation Bonds, Convertible

to Unlimited Tax Series 2020

.950

12/01/50

1,622,918

6,160,000

Bennett Crossing Metropolitan District, Bennett, Adams

County, Colorado, General Obligation Limited Tax Bonds,

Series 2020A-3

.125

12/01/49

6,219,729

3,250,000

Bennett Ranch Metropolitan District 1, Adams County,

Colorado, General Obligation Limited Tax Bonds, Convertible

to Unlimited Tax Series 2021A

.000

12/01/41

2,939,857

2,312,000

Berkley Shores Metropolitan District, Adams County, Colorado,

Limited Tax General Obligation Bonds, Convertible to

Unlimited Tax Series 2020A-3

.250

12/01/50

2,076,229

2,000,000

Bijou Creek Metropolitan District, Arapahoe County, Colorado,

General Obligation Limited Tax Convertible to Unlimited Tax

Bonds, Refunding Series 2025

.625

12/01/55

2,031,132

18,500,000

Bradley Heights Metropolitan District 2, Colorado Springs, El

Paso County, Colorado, General Obligation Limited Tax Bonds,

Series 2021A-3

.750

12/01/51

14,392,887

10,000,000

(f) Brighton, Colorado, Water Activity Enterprise Revenue Bonds,

Water System Project, Series 2025, (UB)

.000

06/01/50

9,199,613

9,375,000

Broadway Station Metropolitan District 2, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Series 2019A

.125

12/01/48

7,473,959

7,075,000

Broadway Station Metropolitan District 2, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Subordinate (Convertible to Senior) Capital Appreciation

(Convertible to Current Interest), Limited Tax (Convertible to

Unlimited Tax) Series

.500

12/01/48

5,693,026

2,582,000

Broadway Station Metropolitan District 3, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Series 2019A

.000

12/01/39

2,236,310

5,500,000

Broadway Station Metropolitan District 3, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Series 2019A

.000

12/01/49

4,208,335

18,415,000

Broadway Station Metropolitan District 3, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Subordinate Convertible to Senior Capital Appreciation Series

2019B

.500

12/01/49

13,045,105

1,138,000

Buffalo Highlands Metropolitan District, Commerce City,

Colorado, Limited Tax General Obligation Bonds, Convertible

to Unlimited Tax, Refunding & Improvement Series 2018A

.250

12/01/38

1,139,211

2,250,000

Buffalo Highlands Metropolitan District, Commerce City,

Colorado, Limited Tax General Obligation Bonds, Convertible

to Unlimited Tax, Refunding & Improvement Series 2018A

.375

12/01/48

2,185,014

1,226,000

Buffalo Highlands Metropolitan District, Commerce City,

Colorado, Limited Tax General Obligation Bonds, Refunding

Subordinate Series 2018B

.625

12/15/46

1,226,013

1,284,500

Buffalo Ridge Metropolitan District (In the City of Commerce

City), Adams County, Colorado, General Obligation Refunding

and Improvement Bonds, Series 2018B

.375

12/15/47

1,288,876

2,400,000

Canyons Metropolitan District 5, Douglas County, Colorado,

Limited Tax General Obligation and Special Revenue Bonds,

Subordinate Refunding Series 2024B - BAM Insured

.500

12/15/54

2,413,433

3,162,500

Carousel Farms Metropolitan District, Town of Parker, Douglas

County, Colorado, General Obligation Limited Tax Bonds,

Series 2021A

.375

12/01/51

2,765,039

4,905,000

Carriage Hills Metropolitan District, Frederick, Colorado,

Limited Tax General Obligation Bonds, Series 2018A

.500

12/01/47

4,768,412

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

4,495,000

Centerra Metropolitan District 1, Loveland, Colorado, Special

Revenue Bonds, Improvement Series 2018

.250

%

12/01/48

$

4,495,243

21,270,000

(d) Centerra Metropolitan District 1, Loveland, Colorado, Special

Revenue Bonds, Refunding & Improvement Series 2017

.000

12/01/47

20,651,049

9,875,000

Centerra Metropolitan District 1, Loveland, Colorado, Special

Revenue Bonds, Refunding & Improvement Series 2020A

.000

12/01/51

9,508,218

6,000,000

Centerra Metropolitan District 1, Loveland, Colorado, Special

Revenue Improvement Bonds, Series 2022

.500

12/01/53

6,267,573

3,851,000

Cherry Creek Corporate Center Metropolitan District,

Arapahoe County, Colorado, Revenue Bonds, Refunding

Senior Lien Series 2015A

.000

06/01/37

3,852,657

1,276,000

Cherry Creek Corporate Center Metropolitan District,

Arapahoe County, Colorado, Revenue Bonds, Refunding

Subordinate Lien Series 2016B

.000

06/15/37

1,278,906

1,450,000

Citadel on Colfax Business Improvement District, Aurora,

Colorado, Special Revenue and Tax Supported Bonds, Senior

Series 2020A

.350

12/01/50

1,354,448

700,000

Clear Creek Transit Metropolitan District 2, Adams County,

Colorado, Revenue Supported Limited Tax General Obligation

Bonds, Series 2021A

.000

12/01/50

511,062

2,241,000

Colliers Hill Metropolitan District 2, Erie, Weld County,

Colorado, General Obligation Limited Tax Bonds, Taxable

Refunding Subordinate Series 2022B-1 - BAM Insured

.750

12/15/47

2,166,354

8,925,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds World Compass Academy Project,

Series 2017

.500

10/01/47

7,540,586

6,625,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds World Compass Academy Project,

Series 2017

.625

10/01/52

5,652,472

1,350,000

(d) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Aspen Ridge School Project, Series

2015A

.250

07/01/46

1,325,807

1,750,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Community Leadership Academy

Project, Series 2008

.500

07/01/38

1,751,869

1,000,000

(d) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Loveland Classical Schools Project,

Series 2016

.000

07/01/46

967,701

350,000

(d) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, New Summit Charter Academy Project,

Series 2021A

.000

07/01/51

255,295

7,745,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Thomas MacLaren State Charter

School Project, Refunding & Improvement Series 2020A

.000

06/01/50

7,520,721

615,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Twin Peaks Charter Academy, Series

2011B

.500

03/15/35

615,794

2,500,000

(d) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, University of Northern Colorado Lab

School, Refunding & Improvement Series 2015

.000

12/15/45

2,400,216

890,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds,Science Technology Engineering and

Math School Project, Refunding Series 2014

.000

11/01/44

856,156

1,055,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds,Science Technology Engineering and

Math School Project, Refunding Series 2014

.125

11/01/49

1,019,060

44,000,000

(d) Colorado Educational and Cultural Facilities Authority, Cultural

Facilities Revenue Bonds, Stanley Project, Senior Lien Series

2025A-1

.875

02/01/59

45,718,042

6,000,000

(d) Colorado Educational and Cultural Facilities Authority, Cultural

Facilities Revenue Bonds, Stanley Project, Taxable Senior Lien

Series 2025A-2

.000

02/01/45

6,153,041

14,650,000

(f) Colorado Health Facilities Authority, Colorado, Revenue Bonds,

AdventHealth Obligated Group, Series 2019A, (UB)

.000

11/15/43

13,386,893

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

7,130,000

(f) Colorado Health Facilities Authority, Colorado, Revenue Bonds,

AdventHealth Obligated Group, Series 2021A

.000

%

11/15/51

$

5,128,354

21,500,000

(e) Colorado Health Facilities Authority, Colorado, Revenue Bonds,

American Baptist Homes of the Midwest Obligated Group,

Series 2013

.000

08/01/43

13,586,297

4,085,000

(d),(e)

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

American Baptist Homes Project, Series 2016

.125

02/01/46

2,745,033

45,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2019A-2

.000

08/01/49

38,456

4,100,000

(f) Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2022A

.250

11/01/52

4,201,338

6,000,000

(f) Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Intermountain Healthcare, Series 2022A, (UB)

.000

05/15/47

6,168,902

1,600,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Intermountain Healthcare, Series 2022A

.000

05/15/52

1,637,216

22,400,000

(f) Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Intermountain Healthcare, Series 2022A, (UB)

.000

05/15/52

22,921,027

335,000

(d),(e)

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Sunny Vista Living Center Project, Refunding & Improvement

Series 2015A

.000

12/01/25

327,418

750,000

(d),(e)

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Sunny Vista Living Center Project, Refunding & Improvement

Series 2015A

.500

12/01/30

585,889

1,650,000

(d),(e)

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Sunny Vista Living Center Project, Refunding & Improvement

Series 2015A

.750

12/01/35

1,141,487

3,600,000

(d),(e)

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Sunny Vista Living Center Project, Refunding & Improvement

Series 2015A

.125

12/01/45

2,225,378

5,070,000

(d),(e)

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Sunny Vista Living Center Project, Refunding & Improvement

Series 2015A

.250

12/01/50

3,140,127

1,835,000

Colorado High Performance Transportation Enterprise, C-470

Express Lanes Revenue Bonds, Senior Lien Series 2017

.000

12/31/56

1,796,990

4,250,000

Colorado High Performance Transportation Enterprise, US 36

and I-25 Managed Lanes Revenue Bonds, Senior Lien Series

2014, (AMT)

.750

01/01/44

4,252,708

31,920,000

Colorado International Center Metropolitan District 14, Denver,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2018

.875

12/01/46

31,584,741

750,000

Colorado International Center Metropolitan District 3, Aurora,

Colorado, General Obligation Limited Tax Bonds, Junior Lien

Series 2018C

.500

12/15/38

751,476

657,000

Colorado International Center Metropolitan District 3, Aurora,

Colorado, General Obligation Limited Tax Bonds, Series 2018B

.500

12/15/38

659,787

15,070,000

Colorado International Center Metropolitan District 4, Adams

County, Colorado, Limited Tax General Obligation and Special

Revenue Bonds, Refunding & Improvement Convertible Capital

Appreciation Series 2019A-2

.250

12/01/48

15,092,320

1,996,000

Colorado International Center Metropolitan District 4, Adams

County, Colorado, Limited Tax General Obligation and Special

Revenue Bonds, Subordinate Series 2019B-2

.750

12/15/48

2,004,318

30,925,000

Colorado International Center Metropolitan District 4, Adams

County, Colorado, Limited Tax General Obligation and Special

Revenue Refunding and Improvement Convertible Capital

Appreciation Bonds, Series 2019A-1

.000

12/01/47

30,680,504

13,000,000

Colorado International Center Metropolitan District 8, Adams

County, Colorado, Limited Tax General Obligation Bonds,

Series 2020

.500

12/01/50

13,105,088

3,715,000

(e) Colorado Springs Urban Renewal Authority, Colorado, Senior

Special Revenue Bonds, Canyon Creek Project, Series 2018A

.750

12/01/47

2,962,122

1,086,000

(e) Colorado Springs Urban Renewal Authority, Colorado, Senior

Special Revenue Bonds, Canyon Creek Project, Series 2018B

.125

12/15/47

827,562

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

3,160,000

Colorado Tech Center Metropolitan District, Louisville,

Colorado, General Obligaiton Bonds, Series 2018

.000

%

12/01/47

$

2,915,477

1,495,000

Commons at East Creek Metropolitan District, Arapahoe

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Tax Series 2020A-3

.000

12/01/50

1,297,993

4,110,000

Conexus Metropolitan District No. 1, Monument, El Paso

County, Colorado, Limited Tax General Obligation and Special

Revenue Bonds, Series 2025A

.250

12/01/55

4,113,702

1,755,000

Constitution Heights Metropolitan District, El Paso County,

Colorado, General Obligation Limited Tax Bonds, Refunding

Series 2020

.000

12/01/49

1,630,832

1,325,000

Copperleaf Metropolitan District 3, Arapahoe County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2021B

.500

12/15/36

1,296,074

725,000

Copperleaf Metropolitan District 6, Arapahoe County,

Colorado, Limited Tax, General Obligation Bonds, Subordinate

Series 2022B

.000

12/15/41

732,432

910,000

Cornerstar Metropolitan District, Arapahoe County, Colorado,

General Obligation Bonds, Limited Tax Convertible to

Unlimited Tax, Refunding Series 2017A

.125

12/01/37

904,281

2,600,000

Cornerstar Metropolitan District, Arapahoe County, Colorado,

General Obligation Bonds, Limited Tax Convertible to

Unlimited Tax, Refunding Series 2017A

.250

12/01/47

2,477,900

3,846,000

Cornerstar Metropolitan District, Arapahoe County, Colorado,

General Obligation Bonds, Limited Tax Convertible to

Unlimited Tax, Refunding Series 2017B

.250

12/01/47

3,656,043

5,185,000

(e) Cornerstone Metropolitan District 2, Montrose and Ouray

Counties, Colorado, Limited Tax General Obligation Refunding

Bonds, Series 2010A

.000

12/01/40

5,191,487

4,000,000

(d) Cottonwood Creek Metropolitan District 5, Arapahoe County

Colorado, Limited Tax General Obligation Bonds, Convertible

Capital Appreciation Series 2025

.250

12/01/55

2,979,366

4,144,000

Crossroads Metropolitan District 1, El Paso County, Colorado,

Limited Tax General Obligation and Special Revenue Bonds,

Series 2022

.500

12/01/51

4,020,740

2,375,000

Crystal Crossing Metropolitan District, Colorado, General

Obligation Limited Tax Bonds, Refunding Series 2016

.250

12/01/40

2,376,459

4,460,000

Cumberland Green Metropolitan District, El Paso County,

Colorado, General Obligation Limited Tax Bonds, Refunding &

Improvement Series 2015

.250

12/01/45

4,425,063

11,998,000

(d) Dawson Trails Metropolitan District 1, Castle Rock, Colorado,

Limited Tax General Obligation Bonds, Subordinate Series

2025B

.250

12/15/55

11,463,242

40,580,000

Dawson Trails Metropolitan District 1, Colorado, In The

Town of Castle Rock, Limited Tax General Obligation Capital

Appreciation Turbo Bonds, Series 2024

.000

12/01/31

25,618,982

3,410,000

DC Metropolitan District, Denver County, Colorado, Limited

Tax General Obligation Bonds, Convertible to Unlimited Tax

Series 2024A

.875

12/01/54

3,258,918

1,250,000

DC Metropolitan District, Denver County, Colorado, Limited

Tax General Obligation Bonds, Convertible to Unlimited Tax

Series 2024B

.000

12/15/54

1,258,885

1,000,000

Del Norte, Colorado, Healthcare Facilities Revenue Bonds, Rio

Grande Hospital Refunding Project, Refunding Series 2024

.700

12/01/49

969,495

1,000,000

Del Norte, Colorado, Healthcare Facilities Revenue Bonds, Rio

Grande Hospital Refunding Project, Refunding Series 2024

.800

12/01/54

968,100

9,000,000

(f) Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022A, (AMT), (UB)

.125

11/15/53

7,974,933

7,085,000

(f) Denver City and County, Colorado, Airport System Revenue

Bonds, Series 2022A, (AMT), (UB)

.500

11/15/53

7,423,033

8,200,000

(f) Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2018A, (AMT), (UB)

.000

12/01/43

8,260,156

28,210,000

(f) Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2018A, (AMT), (UB)

.000

12/01/48

24,806,689

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

8,500,000

(f) Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2018A, (AMT), (UB)

.000

%

12/01/48

$

8,532,914

15,735,000

(f) Denver City and County, Colorado, Airport System Revenue

Bonds, Subordinate Lien Series 2018A, (AMT), (UB)

.250

12/01/48

15,942,285

15,000,000

(f) Denver City and County, Colorado, Dedicated Tax Revenue

Bonds, Series 2021A, (UB)

.000

08/01/51

13,555,967

2,659,000

Denver Gateway Center Metropolitan District, In the City and

County of Denver, Colorado, General Obligation Limited Tax

Bonds, Series 2018A

.500

12/01/38

2,643,114

6,180,000

Denver Gateway Center Metropolitan District, In the City and

County of Denver, Colorado, General Obligation Limited Tax

Bonds, Series 2018A

.625

12/01/48

5,947,426

1,855,000

Denver Gateway Center Metropolitan District, In the City and

County of Denver, Colorado, General Obligation Limited Tax

Bonds, Subordinate Series 2018B

.875

12/15/48

1,792,339

1,796,000

Denver International Business Center Metropolitan District 1,

Denver, Colorado, General Obligation Bonds, Subordinate

Limited Tax Series 2019B

.000

12/01/48

1,806,250

1,500,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Capital Appreciation Series 2010A

.000

09/01/41

753,625

70,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2000B - NPFG Insured

.000

09/01/30

61,225

500,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2000B - NPFG Insured

.000

09/01/31

422,142

500,000

E-470 Public Highway Authority, Colorado, Senior Revenue

Bonds, Series 2000B - NPFG Insured

.000

09/01/33

389,097

20,000

E-470 Public Highway Authority, Colorado, Toll Revenue Bonds,

Series 2004A - NPFG Insured

.000

09/01/28

18,515

1,000,000

(d) Elbert and Highway 86 Commercial Metropolitan District,

Elbert County, Colorado, Special Revenue and Tax Supported

Bonds, Refunding & Improvement Senior Series 2021A

.000

12/01/51

916,431

4,100,000

Erie Highlands Metropolitan District 2, Weld County, Colorado,

General Obligation Bonds, Limited Tax Series 2018A

.250

12/01/48

4,073,384

18,000,000

(d) Falcon Area Water and Wastewater Authority (El Paso County,

Colorado), Tap Fee Revenue Bonds, Series 2022A

.750

12/01/34

18,056,896

2,340,000

Fallbrook Villas Metropolitan District, Thornton, Adams County,

Colorado, Limited Tax General Obligation Bonds, Convertible

to Unlimited Tax Series 2019A

.250

12/01/49

2,233,898

398,000

(d) Fallbrook Villas Metropolitan District, Thornton, Adams County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2019B

.750

12/15/49

399,125

695,000

Fiddler's Business Improvement District, Colorado, Limited Tax

General Obligation Bonds, Greenwood Village Project, Series

2022

.000

12/01/32

715,690

5,800,000

Fiddler's Business Improvement District, Colorado, Limited Tax

General Obligation Bonds, Greenwood Village Project, Series

2022

.550

12/01/47

5,850,618

3,000

Fitzsimons Village Metropolitan District 1, Arapahoe County,

Colorado, Limited Tax General Obligation and Special

Revenue Bonds, Refunding Series 2020A

.000

12/01/49

2,822

611,000

Fitzsimons Village Metropolitan District 1, Arapahoe County,

Colorado, Limited Tax General Obligation and Special

Revenue Bonds, Refunding Subordinate Series 2020B

.000

12/15/49

613,631

14,495,000

Foothills Metropolitan District, Fort Collins, Colorado, Special

Revenue Bonds, Series 2014

.750

12/01/30

14,495,417

34,430,000

Foothills Metropolitan District, Fort Collins, Colorado, Special

Revenue Bonds, Series 2014

.000

12/01/38

33,189,133

5,110,000

Four Corners Business Improvement District, Erie, Boulder

County, Colorado, Limited Tax Supported Revenue Bonds,

Series 2022

.000

12/01/52

5,128,219

4,220,000

Fourth North Business Improvement District, Silverthorne,

Summit County, Colorado, Special Revenue and Tax Supported

Bonds, Refunding & Improvement Senior Series 2022A

.500

12/01/42

4,199,114

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

5,780,000

Fourth North Business Improvement District, Silverthorne,

Summit County, Colorado, Special Revenue and Tax Supported

Bonds, Refunding & Improvement Senior Series 2022A

.750

%

12/01/52

$

5,737,108

2,266,000

Fourth North Business Improvement District, Silverthorne,

Summit County, Colorado, Special Revenue and Tax Supported

Bonds, Subordinate Series 2022B

.125

12/15/52

2,278,284

800,000

Frisco, Colorado, Marina Enterprise Revenue Bonds, Series

2019

.000

12/01/48

747,071

17,145,000

Future Legends Sports Park Business Improvement District,

Colorado, Limited Tax General Obligation Bonds Series 2022A

and Subordinate Limited Tax General Obligation Bonds Series

2022B

.000

12/01/52

13,729,599

2,321,000

Future Legends Sports Park Business Improvement District,

Colorado, Limited Tax General Obligation Bonds Series 2022A

and Subordinate Limited Tax General Obligation Bonds Series

2022B

.500

12/15/52

1,947,384

3,428,000

(d) Future Legends Sports Park Metropolitan District 2, Colorado,

General Obligation Bonds, Subordinate Series 2020B

.500

06/03/50

2,568,783

16,265,000

(d) Future Legends Sports Park Metropolitan District 2, Colorado,

Limited Tax General Obligation Bonds, Series 2020A

.500

06/01/50

12,236,150

2,890,000

Gardens on Havana Metropolitan District 3, Arapahoe County,

Colorado, Special Revenue Bonds, Refunding Series 2017A

.125

12/01/37

2,866,698

3,290,000

Gardens on Havana Metropolitan District 3, Arapahoe County,

Colorado, Special Revenue Bonds, Refunding Series 2017A

.250

12/01/47

3,037,615

1,361,000

Gardens on Havana Metropolitan District 3, Arapahoe County,

Colorado, Special Revenue Bonds, Refunding Subordinate

Series 2017B

.750

12/15/47

1,363,352

1,320,000

Glen Metropolitan District. 2, El Paso County, Colorado,

General Obligation Limited Tax Bonds, Series 2017

.000

12/01/47

1,232,329

1,000,000

(d) Granary Metropolitan District 9, Weld County, Colorado,

Special Assessment Revenue Bonds, Special Improvement

District 1, Series 2024

.450

12/01/44

986,250

5,490,000

(d) Granby Ranch Metropolitan District, Colorado, Limited Tax

General Obligation Bonds, Refunding Series 2018

.500

12/01/52

5,291,823

3,010,000

Grand Junction Dos Rios General Improvement District, Grand

Junction, Mesa County, Colorado, Special Revenue Bonds,

Series 2021

.750

12/01/51

2,319,526

9,855,000

Grandview Reserve Metropolitan District, El Paso County,

Colorado, Limited Tax General Obligation Senior Bonds, Series

2022A and Limited Tax General Obligation Subordinate Bonds,

Series 2022B(3)

.250

12/01/52

9,597,954

3,915,000

Grandview Reserve Metropolitan District, El Paso County,

Colorado, Limited Tax General Obligation Senior Bonds, Series

2022A and Limited Tax General Obligation Subordinate Bonds,

Series 2022B(3)

.000

12/15/52

3,926,758

4,930,000

Green Valley Ranch East Metropolitan District 6, Adams

County, Colorado, Limited Tax General Obligation Bonds,

Series 2020A-3

.875

12/01/50

4,982,499

1,930,000

(d) Greenspire Metropolitan District 1, Weld County, Colorado,

General Obligation Limited Tax Bonds, Series 2022

.125

12/01/51

1,705,410

1,327,000

Haskins Station Metropolitan District, Arvada, Colorado,

General Obligation Bonds, Limited Tax Special Revenue

Subordinate Series 2019B

.750

12/15/49

1,234,764

880,000

Hess Ranch Metropolitan District 5, Parker, Colorado, Special

Assessment Revenue Bonds, Special Improvement District 1,

Series 2024A-2

.500

12/01/43

892,364

15,810,000

(d) Hess Ranch Metropolitan District 5, Parker, Colorado, Special

Assessment Revenue Bonds, Special Improvement District 2,

Series 2024

.500

12/01/44

15,795,897

4,684,000

Hess Ranch Metropolitan District 6, Parker, Colorado, General

Obligation Bonds, Limited Tax Subordinate Series 2020B

.000

12/15/49

4,710,056

20,140,000

Hess Ranch Metropolitan District 6, Parker, Colorado,

Limited Tax General Obligation Bonds, Convertible Capital

Appreciation Series 2020A-2

.750

12/01/49

18,702,185

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

8,000,000

Hess Ranch Metropolitan District 6, Parker, Colorado, Limited

Tax General Obligation Bonds, Series 2020A-1

.000

%

12/01/49

$

7,597,394

575,000

Highlands Metropolitan District 1, Broomfield City and County,

colorado, Limited Tax General Obligation Bonds, Convertible

to Unlimited Tax Series 2021

.000

12/01/51

495,968

1,515,000

Highline Crossing Metropolitan District, In the City of Aurora,

Colorado, General Obligation Limited Tax Bonds, Convertible

to Unlimited Series 2017A

.500

12/01/47

1,521,691

336,000

Highline Crossing Metropolitan District, In the City of Aurora,

Colorado, General Obligation Limited Tax Bonds, Subordinate

Series 2017B

.750

12/15/47

339,210

2,345,000

Home Place Metropolitan District, Thornton, Adams County,

Colorado, General Obligation Bonds, Limited Tax Convertible

to Unlimited Tax Series 2020A

.750

12/01/50

2,352,650

2,500,000

Independence Metropolitan District 3, Elbert County,

Colorado, Limited Tax General Obligation Bonds, Special

Revenue Refunding and Improvement Series 2024A

.375

12/01/54

2,460,086

1,585,000

Independence Water & Sanitation District, Elbert County,

Colorado, Special Revenue Bonds, Refunding and

Improvement Series 2024

.125

12/01/33

1,632,749

670,000

Inspiration Metropolitan District, Douglas County, Colorado,

Limited Tax General Obligation Bonds, Convertible to

Unlimited Tax, Subordinate Series 2021B

.000

12/15/36

623,113

1,610,000

Interquest South Business Improvement District, Colorado

Springs, El Paso County, Colorado, Public Improvement Fee

Revenue Bonds, Series 2017

.000

12/01/47

1,506,973

12,119,000

Jefferson Center Metropolitan District 1, Arvada, Jefferson

County, Colorado, Special Revenue Bonds, Subordinate Series

2020B

.750

12/15/50

12,143,873

2,510,000

Johnstown North Metropolitan District 2, Johnstown, Colorado,

General Obligation Bonds, Refunding & Improvement Series

2022A

.000

08/15/52

2,555,157

1,000,000

Johnstown Village Metropolitan District 2, Weld County, own of

Johnstown, Colorado, General Obligation Limited Tax Bonds,

Series 2020A

.000

12/01/50

893,135

2,500,000

Jones District Community Authority Board, Centennial,

Colorado, Special Revenue Convertible Capital Appreciaiton

Bonds, Series 2020A

.750

12/01/50

2,382,993

1,000,000

(d),(i)

Kinston Metropolitan District 5, Loveland, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Refunding

and Improvement Series 2025A

.500

12/01/45

1,003,625

7,470,000

(d),(i)

Kinston Metropolitan District 5, Loveland, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Refunding

and Improvement Series 2025A

.750

12/01/55

7,496,694

2,750,000

Kinston Metropolitan District 5, Loveland, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Series 2020A

.125

12/01/50

2,834,699

2,000,000

(d),(i)

Kinston Metropolitan District 5, Loveland, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Refunding and Improvement Series 2025B

.250

12/15/55

1,950,787

3,850,000

Kinston Metropolitan District 5, Loveland, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2020B

.500

12/15/52

3,982,532

9,000,000

(d) Kremmling Memorial Hospital District, Colorado, Certificates of

Participation, Series 2024

.375

12/01/49

8,611,190

3,875,000

(d) Kremmling Memorial Hospital District, Colorado, Certificates of

Participation, Series 2024

.625

12/01/56

3,741,952

1,500,000

Lafferty Canyon Metropolitan District, Erie, Colorado, Limited

Tax General Obligation Bonds, Series 2025A

.625

12/01/55

1,476,688

2,610,000

Lake of the Rockies Metropolitan District, In the Town of

Monument, El Paso County, Colorado, Subordinate General

Obligation Limited Tax Bonds, Series 2018B

.000

08/01/48

2,393,672

371,000

Lake of the Rockies Metropolitan District, In the Town of

Monument, El Paso County, Colorado, Subordinate General

Obligation Limited Tax Bonds, Series 2018B

.500

08/01/48

372,042

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

1,000,000

Lakota Pointe Metropolitan District 1, Winter Park, Colorado,

Limited Tax General Obligation Bonds, Series 2025A

.000

%

12/01/55

$

1,013,174

1,080,000

Lanterns Metropolitan District 3, Douglas County, Colorado,

General Obligation Bonds, Limited Tax Series 2023A-1

.250

12/01/53

1,115,251

2,290,000

Larkridge Metropolitan District No. 2, In the City of Thornton,

Adams County, Colorado, General Obligation, Limited Tax

Convertible to Unlimited Tax, Improvement Bonds, Refunding

Series 2019

.250

12/01/48

2,198,436

10,000,000

(d) Ledge Rock Center Commercial Metropolitan District (In the

Town of Johnstown, Weld County, Colorado), Limited Tax

General Obligation Bonds, Series 2022

.375

11/01/52

10,441,826

3,050,000

Ledge Rock Center Residential Metropolitan District 1, Weld

County, Colorado, Limited Tax General Obligation Bonds,

Series 2024A

.375

12/01/54

3,037,734

605,000

Ledge Rock Center Residential Metropolitan District 1, Weld

County, Colorado, Subordinate Limited Tax General Obligation

Bonds, Series 2024B

.750

12/15/54

608,227

6,000,000

Legato Community Authority, Colorado, Commerce City

Colorado Limited Tax Supported Revenue Bonds District 12 3

& 7 Convertible Capital Appreciation Series 2021A-2

.000

12/01/51

4,672,232

1,355,000

Legato Community Authority, Colorado, Commerce City

Colorado Limited Tax Supported Revenue Bonds District 12 3

& 7 Series 2021A-1

.000

12/01/41

1,227,004

2,060,000

Legato Community Authority, Colorado, Commerce City

Limited Tax Supported Revenue Bonds District 12 3 & 7 Series

2021A-1

.000

12/01/46

1,812,000

2,269,000

Legato Community Authority, Colorado, Commerce City

Limited Tax Supported Revenue Bonds District 12 3 & 7 Series

2021B

.250

12/15/51

2,283,928

5,585,000

Mayberry Community Authority, Colorado Springs, El Paso

County, Colorado, Special Revenue Bonds, Series 2021A

.000

04/15/51

4,885,412

5,000,000

(d) Mayberry Springs Community Authority, El Paso County,

Colorado, Special Assessment Revenue Bonds, Special

Improvement District 1, Series 2025

.125

12/01/45

5,000,043

1,178,000

Mayfield Metropolitan District, Thornton, Colorado, General

Oblgation Bonds, Limited Tax Series 2020A

.750

12/01/50

1,181,843

1,460,000

Mead Western Meadows Metropolitan District, Colorado,

General Obligation Limited Tax Bonds, Refunding Series 2018

.000

12/01/47

1,400,858

1,988,000

Meadowbrook Crossing Metropolitan District, EL Paso County,

Colorado, General Obligation Limited Tax Bonds, Refunding

Series 2020A

.250

12/01/49

1,913,140

1,544,000

Meadowlark Metropolitan District, Parker Town, Douglas

County, Colorado, Limited Tax General Obligation Bond,

Convertible to Unlimited Tax Series 2020A

.875

12/01/40

1,546,861

750,000

Meadowlark Metropolitan District, Parker Town, Douglas

County, Colorado, Limited Tax General Obligation Bond,

Convertible to Unlimited Tax Series 2020A

.125

12/01/50

723,444

1,695,000

Meridian Ranch Metropolitan District 2018, Subdistrict, El Paso

County, Colorado, General Obligation Limited Tax Bonds,

Series 2022

.750

12/01/52

1,709,163

3,145,000

(d) Mineral Business Improvement District, Arapahoe County,

Colorado, General Obligation and Special Revenue Bonds,

Limited Tax Series 2024A

.750

12/01/54

3,142,603

10,000

Mountain Shadows Metropolitan District, Colorado, General

Obligation Limited Tax Bonds, Series 2016B

.500

12/15/46

10,000

1,466,000

Mountain Shadows Metropolitan District, Colorado, General

Obligation Limited Tax Bonds, Refunding Series 2016

.000

12/01/35

1,467,205

5,180,000

Mountain Shadows Metropolitan District, Colorado, General

Obligation Limited Tax Bonds, Refunding Series 2016

.000

12/01/46

5,013,913

2,141,000

Mountain Shadows Metropolitan District, Weld County,

Colorado, Limited Tax General Obligation Bonds, Series 2015

.500

12/01/44

2,141,807

981,000

Mountain Sky Metropolitan District, Fort Lupton, Weld County,

Colorado, Limited Tax General Obligation Bonds, Series 2020A

.000

12/01/49

917,789

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

609,000

Mountain Sky Metropolitan District, Fort Lupton, Weld County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2020B

.625

%

12/15/49

$

611,990

3,365,000

Mulberry Metropolitan District 2, Fort Collins, Colorado,

Limited Tax General Obligation Bonds, Series 2022A

.000

12/01/52

3,429,475

2,500,000

Mulberry Metropolitan District 2, Fort Collins, Colorado,

Limited Tax General Obligation Bonds, Subordinate Series

2022B

.000

12/15/52

2,508,224

3,600,000

(d) Murphy Creek Metropolitan District 2, Arapahoe County,

Colorado, General Obligation Bonds, Convertible to Unlimited

Tax, Limited Tax Series 2024A

.000

12/01/54

3,500,814

2,145,000

Murphy Creek Metropolitan District 5 (In the City of Aurora,

Arapahoe County, Colorado), General Obligation Limited Tax

Bonds, Series 2022A and Subordinate General Obligation

Limited Tax Bonds, Series 2022B(3)

.000

12/01/52

1,997,480

1,760,000

North Holly Metropolitan District, Colorado, Limited Tax

General Obligation Bonds, Convertible to Unlimited Tax Series

2018A

.500

12/01/48

1,746,552

340,000

North Pine Vistas Metropolitan District 3, Castle Pines, Douglas

County, Colorado, Limited Tax General Obligation Bonds,

Subordinate Series 2021B - AGM Insured

.625

12/15/51

295,518

1,516,000

North Range Metropolitan District 2, Adams County, Colorado

, Limited Tax General Obligation Bonds, Refunding Special

Revenue & Improvement Series 2017A

.625

12/01/37

1,515,967

4,000,000

North Range Metropolitan District 3, Adams County, Colorado,

Limited Tax General Obligation Bonds, Series 2020A-3

.250

12/01/50

3,998,058

9,710,000

(e) North Vista Highlands Metropolitan District 3, Pueblo County,

Colorado, Limited Tax General Obligation Bonds, Series 2020

.125

12/01/49

8,109,534

2,000,000

Northfield Metropolitan District 2, Fort Collins, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Series 2020A

.000

12/01/50

1,743,439

865,000

Northfield Metropolitan District 2, Fort Collins, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2020B

.500

12/15/50

870,044

2,050,000

(d) Old Towne Metropolitan District, Douglas County, Colorado,

General Obligation Bonds, Refunding and Improvement

Limited Tax Series 2024

.000

12/01/53

1,945,199

3,350,000

Orchard Park Place North Metropolitan District, Westminster,

Colorado, Limited Tax General Obligation Bonds, Series 2019A

.250

12/01/48

3,101,108

611,000

Orchard Park Place North Metropolitan District, Westminster,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2019B

.750

12/15/48

613,850

3,250,000

(d) Orchard Park Place South Metropolitan District, Adams County,

Colorado, General Obligation Bonds, Limited Tax Series 2024

.000

12/01/54

3,207,908

1,000,000

Overlook Metropolitan District, Parker, Douglas County,

Colorado, General Obligation Limited Tax Bonds, Refunding

Subordinate Series 2021B-3

.500

12/15/51

900,346

3,445,000

Overlook Park Metropolitan District, Routt County, Colorado,

General Obligation Bonds, Limited Tax Senior Series 2023A

.250

12/01/53

3,470,731

42,040,000

(e) Painted Prairie Public Improvement Authority, Aurora,

Colorado, Special Revenue Bonds, Series 2019

.000

12/01/49

37,326,198

1,995,000

(d) Palisade Metropolitan District 2, Broomfield County, Colorado,

General Obligation Limited Tax Bonds, Refunding Subordinate

Convertible Capital Appreciation Series 2024B

.875

12/15/54

1,863,305

1,360,000

(d) Palisade Metropolitan District 2, Broomfield County, Colorado,

General Obligation Limited Tax Bonds, Second Subordinate

Series 2024C

.000

12/15/37

1,380,508

1,863,000

Palisade Park West Metropolitan District, Broomfield County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2024B

.000

12/15/54

1,884,202

3,670,000

(d) Parkdale Community Authority, Erie County, Colorado, Limited

Tax Supported Convertible Capital Appreciation Revenue

Bonds, District 2, Series 2024A

.750

12/01/53

3,093,038

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

1,392,000

(d) Parkdale Community Authority, Erie County, Colorado, Limited

Tax Supported Convertible Capital Appreciation Revenue

Bonds, District 2, Series 2024A

.000

%

12/15/53

$

1,396,956

1,331,000

(h) Parker Automotive Metropolitan District (In the Town of Parker,

Colorado), General Obligation Bonds, Refunding Series 2016,

(Pre-refunded 12/01/26)

.000

12/01/45

1,363,292

2,650,000

Parterre Metropolitan District 5, Thornton, Adams County,

Colorado, General Obligation Limited Tax Bonds, Series 2025A

.125

12/01/55

2,761,772

1,450,000

Parterre Metropolitan District 5, Thornton, Adams County,

Colorado, General Obligation Limited Tax Bonds, Series 2025B

.375

12/15/55

1,457,873

1,500,000

(d) Peak Metropolitan District 1, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Bonds, Series 2021A

.000

12/01/41

1,348,203

4,600,000

(d) Peak Metropolitan District 1, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Bonds, Series 2021A

.000

12/01/51

3,841,510

1,652,000

(d) Peak Metropolitan District 1, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2021B

.625

12/15/51

1,658,230

8,060,000

Peak Metropolitan District 3, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Bonds, Series

2022A-1

.500

12/01/52

8,122,366

54,535,000

Peak Metropolitan District 3, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Convertible Capital

Appreciation Bonds, Series 2022A-2

.000

12/01/52

36,836,958

2,700,000

Pinery Commercial Metropolitan District 2, Douglas County,

Colorado, Special Revenue Bonds, Series 2025

.750

12/01/54

2,686,598

5,035,000

Pinon Pines Metropolitan District No. 3, El Paso County,

Colorado, General Obligation Limited Tax Convertible Capital

Appreciation Bonds, Series 2025

.875

12/01/54

4,468,467

9,580,000

Pioneer Community Authority Board (Weld County, Colorado),

Special Revenue Bonds, Series 2022

.500

12/01/34

9,263,931

2,000,000

(d) Plaza Metropolitan District 1, Lakewood, Colorado, Tax

Increment Revenue Bonds, Refunding Series 2013

.000

12/01/40

2,000,021

980,000

Poudre Heights Valley Metropolitan District, Weld County,

Colorado, Limited Tax General Obligation Bonds, Series 2024A

.500

12/01/54

909,664

2,990,000

Powers Metropolitan District In the City of Colorado Springs, El

Paso County, Colorado, Limited Tax General Obligation Bonds,

Series 2018

.375

12/01/48

2,823,723

1,910,000

(d) Prairie Center Metopolitan District No. 3, In the City of

Brighton, Adams County, Colorado, Limited Property Tax

Supported Primary Improvements Revenue Bonds, Refunding

Series 2017A

.000

12/15/41

1,909,815

725,000

Prairie Center Metropolitan District 7, Brighton, Adams County,

Colorado, Limited Tax General Obligation Bonds, Series 2020

.875

12/15/44

680,721

3,315,000

Prairie Center Metropolitan District No. 3, In the City of

Brighton, Adams County, Colorado, Limited Property Tax

Supported Primary Improvements Revenue Bonds, Series

2024A

.875

12/15/46

3,459,598

7,237,000

(d) Prairie Song Metropolitan District 4, Windsor, Colorado,

Limited Tax General Obligation Bonds, Series 2021

.000

12/01/51

7,111,762

500,000

Pronghorn Valley Metropolitan District, Aurora, Colorado,

Limited Tax General Obligatoin Bonds, Subordinate Series

2021B

.250

12/15/51

503,680

400,000

(d) Pueblo Urban Renewal Authority, Colorado, Tax Increment

Capital Appreciation Revenue Bonds, EVRAZ Project, Series

2021A and Tax Increment Revenue Capital Appreciation

Bonds, Series 2021B

.000

12/01/25

396,611

9,890,000

Raindance Metropolitan District 1, Acting by and through its

Water Activity Enterprise In the Town of Windsor, Weld County,

Colorado, Non-Potable Water Enterprise Revenue Bonds,

Series 2020

.250

12/01/50

9,421,260

515,000

Range View Estates Metropolitan District, Mead, Weld County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2020B

.750

12/15/49

517,345

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

18,000,000

(d) Reagan Ranch Metropolitan District 1, Colorado Springs,

Colorado, General Obligation Bonds, Limited Tax & Special

Revenue, Series 2025

.125

%

12/01/54

$

17,592,257

12,890,000

Reagan Ranch Metropolitan District 1, Colorado Springs,

Colorado, General Obligation Bonds, Limited Tax Series

2021-3

.375

12/01/51

11,314,114

5,340,000

Reata South Metropolitan District, Douglas County, Colorado,

Limited Tax General Obligation Bonds, Refunding Series 2018

.500

12/01/47

5,362,732

1,000,000

Red Barn Metropolitan District, Mead, Colorado, Weld County,

Colorado, General Obligation Bond, Limited Tax Convertible to

Unlimited Tax, Refunding and Improvement, Series 2025A

.500

12/01/55

1,000,957

675,000

Red Barn Metropolitan District, Mead, Colorado, Weld County,

Colorado, General Obligation Bond, Subordinate Limited Tax

Series 2025B

.875

12/15/55

682,012

575,000

Red Sky Ranch Metropolitan District, Eagle County, Colorado,

General Obligation Bonds, Refunding & Improvement Series

2015

.750

12/01/35

562,294

3,195,000

Red Sky Ranch Metropolitan District, Eagle County, Colorado,

General Obligation Bonds, Refunding & Improvement Series

2015

.000

12/01/44

2,997,300

15,915,000

Redtail Ridge Metropolitan District, City of Louisville, Boulder

County, Colorado, General Obligation Limited Tax Capital

Appreciation Turbo Bonds, Series 2025

.000

12/01/32

9,802,690

3,165,000

Regency Metropolitan District, Douglas County, Colorado,

General Obligation Limited Tax Bonds, Refunding Series 2019

.000

12/01/46

3,067,451

2,295,000

Remuda Ranch Metropolitan District, Douglas County,

Colorado, Limited Tax General Obligation Bonds, Series 2020A

.000

12/01/50

1,887,471

5,098,000

Reserve Metropolitan District 2, Mount Crested Butte,

Colorado, Limited Tax General Obligation Bonds, Refunding

Series 2016A

.000

12/01/45

4,847,044

1,325,000

Reserve Metropolitan District 2, Mount Crested Butte,

Colorado, Limited Tax General Obligation Bonds, Series 2016B

.125

12/01/45

1,279,966

282,000

Richards Farm Metropolitan District, Colorado, Limited Tax

General Obligation Bonds, Subordinate Series 2019B

.500

12/15/49

283,283

7,241,000

(d) Ridge at Johnstown Metropolitan District 8, Larimer County,

Colorado, Special Assessment Revenue Bonds, Special

Improvement District 1, Series 2024

.875

12/01/44

6,780,735

2,500,000

Riverpark Metropolitan District, Arapahoe County, Colorado,

Limited Tax General Obligation and Special Revenue Bonds,

Series 2024

.375

12/01/54

2,520,680

500,000

Riverview Metropolitan District, Steamboat Springs, Routt

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Tax Refunding Series 2021

.000

12/01/51

434,811

6,345,000

Riverwalk Metropolitan District 2, Glendale, Arapahoe County,

Colorado, Special Revenue Bonds, Series 2022A

.000

12/01/52

5,340,033

1,295,000

Rock Metropolitan District, El Paso County, Colorado, Limited

Tax General Obligation Bonds, Series 2025A

.625

12/01/54

1,269,470

550,000

Rock Metropolitan District, El Paso County, Colorado, Limited

Tax General Obligation Bonds, Series 2025B

.875

12/15/54

555,960

2,625,000

RRC Metropolitan District 2, Jefferson County, Colorado,

Limited Tax General Obligation Bonds, Series 2021

.250

12/01/51

2,295,666

5,000,000

Sagebrush Farm Metropolitan District 1, Aurora, Adams

County, Colorado, General Obligation Limited Tax Bonds,

Series 2022A

.750

12/01/52

5,140,937

10,000,000

Sagebrush Farm Metropolitan District 1, Aurora, Adams

County, Colorado, General Obligation Limited Tax Bonds,

Subordinate Series 2024

.000

12/15/54

10,067,537

2,861,000

(d) Saint Vrain Lakes Metropolitan District 4, Weld County,

Colorado, General Obligation Bonds, Firestone Subordinate

Limited Tax Series 2024B

.750

09/20/54

2,874,253

2,132,000

Siena Lake Metropolitan District, Gypsum, Colorado, General

Obligation Limited Tax Bonds, Series 2021

.750

12/01/41

1,672,633

7,341,000

Siena Lake Metropolitan District, Gypsum, Colorado, General

Obligation Limited Tax Bonds, Series 2021

.000

12/01/51

5,268,327

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

1,025,000

Silver Leaf Metropolitan District, Jefferson County, Colorado,

General Obligation Limited Tax Bonds, Series 2021A-3

.250

%

12/01/50

$

909,013

859,000

Silver Peaks Metropolitan District No. 2, In the Town of

Lochbuie, Weld County, Colorado, Limited Tax General

Obligation Subordinate Bonds, Series 2018B

.250

12/15/47

861,506

2,015,000

Silverstone Metropolitan District 3, Weld County, Colorado,

General Obligation and Special Revenue Bonds, Limited Tax

Series 2023

.750

12/01/45

2,042,838

2,000,000

(d) Sky Ranch Community Authority Board (Arapahoe County,

Colorado), Limited Tax Supported District No. 3 Senior Bonds

(Tax-Exempt Fixed Rate), Series 2022A and Subordinate Bonds

(Tax-Exempt Fixed Rate), Series 2022B(3)

.750

12/01/52

2,014,853

550,000

Sky Ranch Community Authority Board, Arapahoe County,

Colorado, Limited Tax Supported District 1 Revenue Bonds,

Subordinate Series 2024B

.500

12/15/54

553,078

835,000

(d) Sojourn at Idlewild Metropolitan District, Grand County,

Colorado, Limited Tax General Obligation Bonds, Winter Park

Series 2025A

.125

12/01/55

852,907

1,000,000

South Timnath Metropolitan District No. 1, In the Town of

Timnath, Larimer County, Colorado, Limited Tax General

Obligation Bonds, Series 2019A

.500

12/01/48

823,215

2,208,000

South Timnath Metropolitan District No. 1, In the Town of

Timnath, Larimer County, Colorado, Subordinate Limited Tax

General Obligation Bonds, Series 2019B

.000

12/15/48

1,878,962

5,890,000

Southwest Timnath Metropolitan District 4, Timnath, Larimer

County, Colorado, Limited Tax General Obligation Bonds,

Series 2017A

.375

12/01/47

5,889,879

1,105,000

Southwest Timnath Metropolitan District 4, Timnath, Larimer

County, Colorado, Limited Tax General Obligation Bonds,

Subordinate Series 2017B

.750

12/15/47

1,105,135

500,000

Spring Valley Metropolitan District 4, Elbert County, Colorado,

Limited Tax General Obligation Bonds, Convertible to

Unlimited Tax Series 2020A

.000

12/01/40

470,319

2,500,000

(d),(g)

St. Vrain Lakes Metropolitan District 4, Weld County, Colorado,

General Obligation Bonds, Firestone Convertible Capital

Appreciation Limited Tax Series 2024A

.000

09/20/54

1,731,109

1,325,000

St. Vrain Lakes Metropolitan District No. 2, Weld County,

Colorado, Limited Tax General Obligation Bonds, Refunding

and Improvement Series 2024B

.375

11/15/54

1,321,367

5,750,000

(d) STC Metropolitan District 2, Superior, Boulder County,

Colorado, Limited Tax General Obligation and Special Revenue

Bonds, Refunding Second Lien Series 2025A-2

.250

12/01/55

5,846,153

5,075,000

(d) STC Metropolitan District 2, Superior, Boulder County,

Colorado, Subordinate Limited Tax General Obligation and

Special Revenue Bonds, Refunding & improvement Series

2025B

.000

12/15/55

5,110,453

16,000,000

Sterling Ranch Community Authority Board, Douglas County,

Colorado, Limited Tax Supported and Special Revenue Bonds,

Special District 3, Series 2022

.750

12/01/53

16,837,002

1,100,000

(d) Sterling Ranch Community Authority Board, Douglas County,

Colorado, Limited Tax Supported and Special Revenue Bonds,

Special District 4 Subdistrict B, Refunding & Improvement

Series 2024A

.750

12/01/54

1,096,077

2,624,000

(d) Sterling Ranch Community Authority Board, Douglas County,

Colorado, Limited Tax Supported and Special Revenue Bonds,

Special District 4 Subdistrict B, Refunding & Improvement

Subordinate Series 2024B

.250

12/15/54

2,647,067

4,045,000

Sterling Ranch Community Authority Board, Douglas County,

Colorado, Special Improvement Revenue Bonds, Special

District 1, Series 2024

.625

12/01/43

4,092,864

5,000,000

Sterling Ranch Metropolitan District 1, El Paso County,

Colorado, General Obligation Limited Tax Bonds, Series 2020

.125

12/01/50

4,704,916

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

11,750,000

Sterling Ranch Metropolitan District 2, El Paso County,

Colorado, General Obligation Bonds, Limited Tax Convertible

Capital Appreciation Series 22

.750

%

12/01/51

$

11,844,275

7,500,000

(e) Stone Ridge Metropolitan District 2, Colorado, General

Obligation Bonds, Limited Tax Convertible to Unlimited, Series

2007

.250

12/01/31

225,000

2,175,000

Sunlight Metropolitan District, Steamboat Springs, Colorado,

Limited Tax General Obligation Bonds, Series 2020

.000

12/01/50

2,010,055

668,000

The Village at Dry Creek Metropolitan District No. 2, In the City

of Thornton, Adams County, Colorado, Limited Tax General

Obligation and Special Revenue Bonds, Series 2019

.375

12/01/44

640,986

1,275,000

(d) Third Creek Metropolitan District 1, Commerce City, Colorado,

Limited Tax General Obligation Bonds, Series 2022A-1

.750

12/01/51

983,826

875,000

Trails at Crowfoot Metropolitan District 3, Parker, Colorado,

Limited Tax General Obligation Bonds, Refunding Series 2024B

.875

12/15/52

883,856

3,400,000

Transport Metropolitan District 3, In the City of Aurora,

Adams County, Colorado, General Obligation Limited Bonds,

Convertible Capital Appreciation Series 2021A-2

.500

12/01/51

2,784,786

7,200,000

Transport Metropolitan District 3, In the City of Aurora, Adams

County, Colorado, General Obligation Limited Bonds, Series

2021A-1

.000

12/01/41

6,099,959

9,985,000

Transport Metropolitan District 3, In the City of Aurora, Adams

County, Colorado, General Obligation Limited Bonds, Series

2021A-1

.000

12/01/51

7,619,589

3,000,000

(d) Triview Metropolitan District 4, Colorado, El Paso County,

General Obligation Bonds Limited Tax Series 2018

.750

12/01/48

3,008,829

1,568,000

Two Bridges Metropolitan District, Douglas County, Colorado,

General Obligation Limited Tax Bonds, Series 2018A

.625

08/01/48

1,569,001

1,250,000

(d) Vail Home Partners Corporation, Colorado, Housing Facilities

Revenue Bonds, Series 2025

.875

10/01/55

1,263,751

5,750,000

(d) Vail Home Partners Corporation, Colorado, Housing Facilities

Revenue Bonds, Series 2025

.000

10/01/64

5,823,351

9,500,000

(e) Valagua Metropolitan District, Eagle County, Colorado, General

Obligation Limited Tax Bonds, Series 2008

.325

12/01/37

1,900,000

15,555,000

Velocity Metropolitan District 3, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Series 2019

.500

12/01/48

14,626,836

5,000,000

Velocity Metropolitan District 5, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Convertible Capital

Appreciation Series 2020A-2

.000

12/01/50

4,259,045

8,000,000

Velocity Metropolitan District 5, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Series 2020A-1

.375

12/01/50

7,439,403

5,275,000

(d) Ventana Metropolitan District, El Paso County, Colorado,

General Obligation Bonds, Limited Tax Refunding and

Improvement Series 2023A

.500

09/01/53

5,411,765

6,500,000

(g) Verve Metropolitan District 1, Jefferson County and the City

and County of Broomfield, Colorado, General Obligation

Bonds, Convertible Capital Appreciation Improvement Series

2024A

.000

12/01/54

4,705,306

3,570,000

Verve Metropolitan District 1, Jefferson County and the City

and County of Broomfield, Colorado, General Obligation

Bonds, Improvement Limited Tax Series 2023

.750

12/01/52

3,612,559

1,373,000

(d) Village at Southgate Metropolitan District, Adams County,

Colorado, Limited Tax General Obligation Bonds, Series 2018A

.625

12/01/48

1,373,135

380,000

(d) Village at Southgate Metropolitan District, Adams County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2018B

.750

12/15/40

381,349

3,800,000

Village East Community Metropolitan District, Frederick, Weld

County, Colorado, Limited Tax General Obligation Bonds,

Series 2020A

.250

12/01/50

3,435,171

586,000

Village East Community Metropolitan District, Frederick, Weld

County, Colorado, Limited Tax General Obligation Bonds,

Subordinate Series 2020B

.125

12/15/50

589,126

1,575,000

Village East Metropolitan District 3, Weld County, Colorado,

General Obligation Limited Tax Bonds, Series 2017A

.000

12/01/46

1,472,961

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

143,000

Village East Metropolitan District 3, Weld County, Colorado,

General Obligation Limited Tax Bonds, Subordinate Series

2017B

.750

%

12/15/46

$

143,021

1,210,000

Village Metropolitan District In the Town of Avon, Eagle County,

Colorado, Special Revenue and Limited Property Tax Bonds,

Improvement Series 2025A

.750

12/01/55

1,205,889

12,435,000

Villages at Johnstown Metropolitan District 7, Johnstown,

Colorado, Limited Tax General Obligation Bonds, Series

2022A(3)

.250

12/01/52

12,002,748

2,265,000

Waterfall Metropolitan District 1, Larimer County, Colorado,

Limited Tax General Obligation Bonds, Refunding Senior Series

2022A

.250

12/01/52

2,068,418

3,000,000

Waterfront At Foster Lake Metropolitan District 2, Weld County,

Colorado, Limited Tax Senior General Obligation Bonds, Series

2022A3-1

.000

12/01/51

2,508,685

500,000

Waterfront at Foster Lake Metropolitan District 2, Weld County,

Colorado, Special Revenue Bonds, Series 2022

.625

12/01/28

455,964

3,000,000

Waterview II Metropolitan District, El Paso County, Colorado,

Limited Tax General Obligation Bonds, Series 2022A

.000

12/01/51

2,847,757

2,200,000

West Globeville Metropolitan District 1, Denver, Colorado,

General Obligation Limited Tax Bonds, Series 2022

.250

12/01/32

2,219,080

21,650,000

West Globeville Metropolitan District 1, Denver, Colorado,

General Obligation Limited Tax Bonds, Series 2022

.750

12/01/52

21,556,665

40,050,000

(d) West Globeville Metropolitan District 1, Denver, Colorado,

General Obligation Limited Tax Bonds, Series 2024A-2

.000

12/01/54

25,661,305

10,895,000

(d) West Globeville Metropolitan District 1, Denver, Colorado,

Special Assessment Revenue Bonds, Special Improvement

District 1, Series 2024

.750

12/01/44

10,589,964

1,277,000

Westcreek Metropolitan District 2, Douglas County, Colorado,

Limited Tax General Obligation Bonds, Series 2019A

.375

12/01/48

1,240,117

1,000,000

Westerly Metropolitan District 4, Weld County, Colorado,

General Obligation Limited Tax Bonds, Convertible Capital

Appreciation Bonds, Series 2021A-2

.750

12/01/50

934,831

5,355,000

Westgate Metropolitan District, Colorado Springs, El Paso

County, Colorado, General Obligation Limited Tax Bonds,

Series 2022

.125

12/01/51

4,563,422

1,920,000

Westview Metropolitan District, Weld County, Colorado,

General Obligation Limited Tax Bonds, Series 2019A

.125

12/01/49

1,770,334

313,000

Westview Metropolitan District, Weld County, Colorado,

General Obligation Limited Tax Bonds, Subordinate Series

2019B

.750

12/15/49

314,062

2,100,000

(d) Westwood Metropolitan District, Thornton, Adams County,

Colorado, Limited Tax General Obligation Bonds, Senior Series

2021A

.000

12/01/51

1,882,053

2,780,000

White Buffalo Metropolitan District 3, Adams County, Colorado,

Limited Tax General Obligation bonds, Convertible to

Unlimited Tax Bonds, Series 2020

.500

12/01/50

2,748,791

756,000

Willow Bend Metropolitan District, City of Thornton, Adams

County, Colorado, Limited Tax General Obligation Bonds,

Subordinate Series 2019B

.625

12/15/49

759,243

24,610,000

(d) Windler Public Improvement Authority, Aurora, Colorado,

Limited Tax Supported Revenue Bonds, Convertible Capital

Appreciation Series 2021A-2

.625

12/01/51

16,626,112

19,500,000

(d) Windler Public Improvement Authority, Aurora, Colorado,

Limited Tax Supported Revenue Bonds, Series 2021A-1

.125

12/01/51

14,907,974

3,265,000

Windshire Park Metropolitan District 2, Windsor, Weld County,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2017A

.500

12/01/47

3,324,301

1,635,000

Windshire Park Metropolitan District 2, Windsor, Weld County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2017B

.750

12/15/47

1,640,110

3,300,000

Windsor Highlands Metropolitan District 9, Windsor, Larimer

County, Colorado, Limited Tax Supported Revenue Bonds,

Series 2019

.000

12/01/39

3,190,706

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

9,315,000

Windsor Highlands Metropolitan District 9, Windsor, Larimer

County, Colorado, Limited Tax Supported Revenue Bonds,

Series 2019

.000

%

12/01/49

$

8,226,822

1,185,000

(d) Winsome Metropolitan District No. 3, El Paso County,

Colorado, General Obligation Limited Tax Bonds, Series 2021A

.125

12/01/50

1,034,894

1,500,000

Woodmen Heights Metropolitan District 2, El Paso County,

Colorado, General Obligation Limited Tax Bonds, Refunding

Subordinate Series 2020B-2

.500

12/15/40

1,509,714

TOTAL COLORADO

1,700,683,507

CONNECTICUT - 0.2%

6,115,000

(f) Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Connecticut Childrens Medical Center and

Subsidiaries, Series 2023E, (UB)

.250

07/15/53

5,607,848

1,000,000

(d) Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Healthcare Facility Expansion Church Home of

Hartford Inc. Project, Series 2016A

.000

09/01/46

939,136

5,355,000

(f) Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2024A, (UB)

.600

11/15/49

5,269,396

4,286,111

(d) Mohegan Tribe of Indians of Connecticut, Gaming Authority

Priority Distribution Payment Public Improvement Bonds, Series

2015A

.750

02/01/45

4,320,314

1,700,000

Stamford Housing Authority, Connecticut, Revenue Bonds,

Mozaic Concierge Living Project, Series 2025A

.250

10/01/60

1,675,462

3,300,000

(d) Steel Point Infrastructure Improvement District, Connecticut,

Special Obligation Revenue Bonds, Steelpointe Harbor Project,

Series 2024

.000

04/01/52

3,487,331

TOTAL CONNECTICUT

21,299,487

DELAWARE - 0.1%

6,119,000

(d) Millsboro, Delaware, Special Obligation Bonds, Plantation

Lakes Special Development District, Series 2018

.250

07/01/48

5,861,691

1,800,000

(d) Milton, Delaware, Special Obligation Bonds, Granary Farm

Special Development District, Series 2024

.950

09/01/53

1,808,287

1,270,000

Wilmington, Delaware, Multifamily Rental Housing Revenue

Bonds, Lincoln Towers Associates, LLC Project, Series 2011A

and Series 2011B

.250

07/15/48

1,270,889

TOTAL DELAWARE

8,940,867

DISTRICT OF COLUMBIA - 2.4%

346,045,000

District of Columbia Tobacco Settlement Corporation, Tobacco

Settlement Asset-Backed Bonds, Series 2006A

.000

06/15/46

79,043,980

19,709,000

(d) District of Columbia, Revenue Bonds, Saint Paul on Fouth

Street, Inc., Series 2019A

.250

05/15/55

16,244,276

25,000

District of Columbia, Washington, D.C., Revenue Bonds,

Ingleside at Rock Creek Project, Series 2017A

.000

07/01/37

25,121

90,205,000

(f) Metropolitan Washington Airports Authority, Virginia, Dulles

Toll Road Revenue Bonds, Capital Appreciation, Second Senior

Lien Series 2010A - BAM Insured, (UB)

.000

10/01/37

52,320,957

1,010,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Refunding & Subordinate Lien Series

2019B

.000

10/01/44

912,448

53,245,000

(f) Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Refunding & Subordinate Lien Series

2019B, (UB)

.000

10/01/44

48,102,279

15,165,000

(f) Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Refunding & Subordinate Lien Series

2019B, (UB)

.000

10/01/49

13,234,491

44,865,000

(f) Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Refunding & Subordinate Lien Series

2019B, (UB)

.000

10/01/53

38,245,752

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

DISTRICT OF COLUMBIA

(continued)

$

8,000,000

(f) Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

Improvement Projects, Refunding Second Senior Lien Series

2022A - AGM Insured, (UB)

.000

%

10/01/52

$

7,125,266

2,450,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Second Senior Lien Series 2009B - AGC

Insured

.000

10/01/27

2,317,991

2,055,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail & Capital

improvement Projects, Second Senior Lien Series 2009B - AGC

Insured

.000

10/01/36

1,342,618

7,000,000

Metropolitan Washington Airports Authority, Virginia,

Dulles Toll Road Revenue Bonds, Dulles Metrorail Capital

Appreciation, Second Senior Lien Series 2010B

.500

10/01/44

7,392,981

5,385,000

(f) Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2019A, (AMT)

.000

10/01/49

5,410,436

17,835,000

(f) Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2021A, (AMT), (UB)

.000

10/01/51

15,654,987

12,345,000

(f) Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2023A, (AMT), (UB)

.500

10/01/53

11,790,856

12,025,000

(f) Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2024A, (AMT), (UB)

.250

10/01/49

12,503,567

10,000,000

(f) Washington Metropolitan Area Transit Authority, Dedicated

Revenue Bonds, Green Series 2023A, (UB)

.125

07/15/47

9,408,141

TOTAL DISTRICT OF COLUMBIA

321,076,147

FLORIDA - 14.8%

1,495,000

A.H. at Turnpike South Community Development District,

Miami-Dade County, Florida, Special Assessment Bonds, Phase

1 Project, Series 2015

.250

11/01/46

1,609,726

3,100,000

Academical Village Community Development District, Davie,

Florida, Special Assessment Revenue Bonds, Series 2020

.000

05/01/51

2,560,943

32,215,000

(d) Alachua County Health Facilities Authority, Florida, Health

Facilities Revenue Bonds, Terraces at Bonita Springs Project,

Refunding Series 2022A

.000

11/15/61

23,514,779

4,920,000

(f) Alachua County Health Facilities Authority, Florida, Health

Facilties Revenue Bonds, Shands Teaching Hospital & Clinics,

Inc. at the University of Florida Project, Series 2019A

.000

12/01/49

4,306,793

2,220,000

(d) Amelia Walk Community Development District, Florida, Special

Assessment Bonds, Area 3-B Series 2018A

.250

11/01/39

2,264,381

3,725,000

(d) Amelia Walk Community Development District, Florida, Special

Assessment Bonds, Area 3-B Series 2018A

.375

11/01/49

3,741,563

1,395,000

(d) Antillia Community Development District, Florida, Special

Assessment Revenue Bonds, Project Series 2024

.875

05/01/54

1,407,651

2,000,000

(d) Arbors Community Development District, Florida, Revenue

Bonds, Capital Improvement 2023 Project Area Series 2023

.625

05/01/53

2,052,807

1,495,000

(d) Arbors Community Development District, Florida, Revenue

Bonds, Capital Improvement 2024 Project Area Series 2024

.500

05/01/55

1,495,024

1,555,000

Arborwood Community Development District, Florida, Capital

Improvement Revenue Bonds, Refunding Subordinate Lien

Series 2018A-2

.000

05/01/36

1,581,541

415,000

(d) Armstrong Community Development District, Clay County,

Florida, Special Assessment Revenue Bonds, Series 2017A

.000

11/01/34

420,984

1,000,000

(d) Armstrong Community Development District, Clay County,

Florida, Special Assessment Revenue Bonds, Series 2017A

.125

11/01/48

994,413

1,925,000

Avalon Groves Community Development District, Florida,

Special Assessment Bonds, Area 2 Project, Series 2017A-1

.000

05/01/48

2,004,990

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,925,000

Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Maple Ridge Phase 2 Project,

Series 2016

.250

%

05/01/47

$

2,929,934

1,145,000

Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Maple Ridge Phase 3 Project,

Series 2018

.300

05/01/39

1,171,671

1,940,000

Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Maple Ridge Phase 3 Project,

Series 2018

.375

05/01/49

1,950,339

750,000

(d) Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Phase 3 Master Improvements

Project, Series 2021

.125

05/01/41

594,235

1,000,000

(d) Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Phase 3 Master Improvements

Project, Series 2021

.000

05/01/52

795,558

1,790,000

(d) Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Phase 4 Master Improvement

Project, Series 2023

.500

05/01/53

1,790,079

5,110,000

Avenir Community Development District, Palm Beach

Gardens, Florida, Special Assessment Bonds, Area 3 - Master

Infrastructure Project, Series 2023

.625

05/01/54

5,161,880

1,675,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds, 2018

Project Series 2018

.000

11/01/48

1,673,476

4,250,000

Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds, 2021

Project Series 2021

.200

05/01/41

3,485,785

10,235,000

Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds, 2022

Project Series 2022

.000

05/01/53

9,680,959

2,495,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds, 2024

Project Series 2024

.250

05/01/55

2,469,349

570,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds,

Assessment Area 2B, Series 2018

.000

11/01/39

582,314

935,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds,

Assessment Area 2B, Series 2018

.000

11/01/49

936,284

2,250,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds,

Assessment Area 3A, Series 2018

.000

11/01/39

2,298,606

3,470,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds,

Assessment Area 3A, Series 2018

.125

11/01/49

3,486,801

1,460,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds,

Assessment Area 3A, Series 2018

.125

11/01/51

1,467,053

480,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds,

Assessment Area 4, Series 2018

.000

11/01/39

490,369

1,560,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds,

Assessment Area 4, Series 2018

.125

11/01/49

1,569,269

2,575,000

Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds, Series

2015

.250

11/01/46

2,575,127

1,985,000

Ballentrae Hillsborough Community Development District,

Hillsborough County, Florida, Special Assessment Bonds,

Series 2014

.500

11/01/44

1,985,613

2,285,000

Balm Grove Community Development District, Florida, Special

Assessment Bonds, 2022 Project, Series 2022

.125

11/01/51

1,887,702

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

4,375,000

Bannon Lakes Community Development District, Saint Johns

County, Florida, Special Assessment Revenue Bonds, Series

2016

.000

%

11/01/48

$

4,265,804

4,310,000

Banyan Cay Community Development District, West Palm

Beach, Florida, Special Assessment Bonds, 2020-1

.000

11/01/51

3,495,864

905,000

Bartram Park Community Development District, Florida,

Special Assessment Bonds, Refunding Subordinate Lien Series

2015A-2

.000

05/01/35

905,567

1,230,000

Bay County, Florida, Educational Facilities Revenue Refunding

Bonds, Bay Haven Charter Academy, Inc. Project, Series 2013A

.000

09/01/45

1,221,635

4,050,000

Bay County, Florida, Educational Facilities Revenue Refunding

Bonds, Bay Haven Charter Academy, Inc. Project, Series 2013A

.000

09/01/48

4,003,933

80,000

Beach Road Golf Estates Community Development District,

Bonita Springs, Florida, Special Assessment Bonds Series 2015

.000

11/01/36

80,031

8,380,000

Beach Road Golf Estates Community Development District,

Bonita Springs, Florida, Special Assessment Bonds Series 2015

.000

11/01/46

8,104,452

45,000

Beacon Lakes Community Development District, Florida,

Special Assessment Bonds, Subordinate Lien Series 2007B

.200

05/01/38

45,054

1,755,000

(d) Beaumont Communit Development District 1, City of

Wildwood, Florida, Special Assessment Bonds, Series 2019 A-1

.500

11/01/39

1,804,241

1,760,000

(d) Beaumont Communit Development District 2, City of

Wildwood, Florida, Special Assessment Bonds, Series 2019

.375

11/01/49

1,808,988

915,000

Bella Collina Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2024

.300

05/01/55

897,666

2,975,000

Bellagio Community Development District, Hialeah, Florida,

Special Assessment Bonds, Series 2013

.500

11/01/43

3,107,325

150,000

Belmond Reserve Community Development District, Florida,

Hillsborough County Special Assessment Revenue Bonds Area

2 Series 2023

.500

11/01/52

153,797

1,000,000

Belmont Community Development District, Florida, Capital

Improvement Revenue Bonds, Phase 1 Project, Series 2013A

.500

11/01/43

1,083,977

700,000

Belmont Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2016A

.375

11/01/36

711,756

1,130,000

Belmont Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2016A

.500

11/01/46

1,138,338

1,115,000

(d) Berry Bay II Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, 2024

Project Series 2024

.450

05/01/54

1,076,022

3,000,000

Black Creek Community Development District, Miami-Dade

County, Florida, Special Assessment Bonds, Project 2020 Series

2022

.625

06/15/52

3,067,949

16,450,000

Boggy Creek Improvement District, Orlando, Florida, Special

Assessment Revenue Bonds, Refunding Series 2013

.125

05/01/43

16,430,270

1,785,000

(d) Boyette Park Community Development District, Florida, Special

Assessment Bonds, Series 2018

.000

05/01/38

1,803,575

2,975,000

(d) Boyette Park Community Development District, Florida, Special

Assessment Bonds, Series 2018

.125

05/01/48

2,959,709

1,790,000

Boynton Village Community Development District, Florida,

Special Assessment Bonds, Series 2007-A1

.750

05/01/37

1,791,478

3,500,000

(d) Bradbury Community Development District, Haines City,

Florida, Special Assessment Bonds, Series 2023

.250

05/01/43

3,524,848

5,005,000

(d) Bradbury Community Development District, Haines City,

Florida, Special Assessment Bonds, Series 2023

.500

05/01/53

5,020,600

3,510,000

(f) Brevard County Health Facilities Authority, Florida, Hospital

Revenue Bonds, Health First Obligated Group, Series 2022A,

(UB)

.000

04/01/52

3,010,853

1,000,000

(d) Brookstone Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area Two Series 2022

.500

05/01/42

1,016,974

1,910,000

(d) Brookstone Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area Two Series 2022

.625

05/01/52

1,927,413

18,380,000

(f) Broward County, Florida, Airport System Revenue Bonds,

Series 2019A, (AMT), (UB)

.000

10/01/44

16,626,100

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

5,000,000

(f) Broward County, Florida, Tourist Development Tax Revenue

Bonds, Convention Center Expansion Project, Series 2021, (UB)

.000

%

09/01/51

$

4,383,560

18,590,000

(f) Broward County, Florida, Tourist Development Tax Revenue

Bonds, Convention Center Expansion Project, Series 2021 -

BAM Insured, (UB)

.000

09/01/51

16,729,427

2,000,000

(d) Buckhead Trails Community Development District, Manatee

County Florida, Special Assessment Bonds, 2022 Project Series

2022

.750

05/01/52

2,020,564

1,145,000

Buckhead Trails Community Development District, Manatee

County, Florida, Special Assessment Bonds, 2024 Project Series

2024

.875

05/01/54

1,136,490

1,315,000

Bullfrog Creek Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Series 2017

.125

11/01/38

1,327,512

1,910,000

Bullfrog Creek Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Series 2017

.250

11/01/47

1,913,997

6,830,000

(d) Cape Coral Health Facilities Authority, Florida, Senior Housing

Revenue Bonds, Gulf Care Inc. Project, Series 2015

.875

07/01/40

4,539,189

1,600,000

(d) Capital Projects Finance Authority, Florida, Senior Living

Revenue Bonds, Millenia Orlando Project, Series 2025A

.250

01/01/55

1,624,290

2,690,000

(d) Capital Projects Finance Authority, Florida, Senior Living

Revenue Bonds, Millenia Orlando Project, Series 2025A

.125

01/01/65

2,672,615

1,825,000

Capital Projects Finance Authority, Florida, Student Housing

Revenue Bonds, PRG - UnionWest Properties LLC Project,

Senior Series 2024A-1

.000

06/01/58

1,658,154

2,000,000

(d) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, South Tech Schools Project, Series 2020A

.000

06/15/55

1,746,378

7,788,892

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, LLT Academy South Bay Project, Series 2020A

.000

06/15/55

6,836,542

3,625,000

Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, Pepin Academies Inc., Series 2020A

.750

07/01/55

3,312,600

10,455,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, Pineapple Cove Classical Academy, Series 2019A

.250

07/01/49

9,343,654

1,000,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, Pineapple Cove Classical Academy, Series 2019A

.375

07/01/54

888,546

1,000,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, The Florida Charter Educational Foundation, Inc.

Projects, Series 2018A

.375

06/15/38

979,168

1,970,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, The Florida Charter Educational Foundation, Inc.

Projects, Series 2018A

.375

06/15/48

1,798,491

2,290,000

Capital Trust Agency, Florida, Multifamily Housing Revenue

Bonds, Coral Gardens Apartments Project, Series 2018A

.850

01/01/54

1,716,321

730,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Babcock

Neighborhood School Inc, Series 2018

.100

08/15/38

744,731

4,030,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Babcock

Neighborhood School Inc, Series 2018

.200

08/15/48

4,032,668

3,955,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Babcock

Neighborhood School Inc, Series 2018

.375

08/15/53

3,960,099

3,740,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Odyssey Charter

School Project, Series 2017A

.375

07/01/37

3,764,531

4,820,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Odyssey Charter

School Project, Series 2017A

.500

07/01/47

4,795,087

10,470,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Renaissance

Charter School Project, Series 2017A

.250

06/15/47

9,703,431

6,895,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Tallahassee

Classical School Inc., Series 2021A

.250

07/01/51

4,144,281

4,265,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Tallahassee

Classical School Inc., Series 2021A

.375

07/01/56

2,520,051

7,450,000

(d),(e)

Capital Trust Agency, Florida, Revenue Bonds, Tuscan Gardens

of Palm Coast Project, Series 2017A

.000

10/01/49

5,066,000

100,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Viera Charter

School Project, Series 2017A

.000

10/15/47

93,423

895,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Viera Charter

School Project, Series 2017A

.000

10/15/52

813,393

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,860,000

(d) Capital Trust Agency, Florida, Senior Living Facilities Revenue

Bonds, Elim Senior Housing, Inc. Project, Series 2017

.375

%

08/01/32

$

1,791,159

2,735,000

(d) Capital Trust Agency, Florida, Senior Living Facilities Revenue

Bonds, Elim Senior Housing, Inc. Project, Series 2017

.625

08/01/37

2,527,390

11,680,000

(d) Capital Trust Agency, Florida, Senior Living Facilities Revenue

Bonds, Elim Senior Housing, Inc. Project, Series 2017

.875

08/01/52

9,625,510

2,870,000

(d) Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, Babcock Neighborhood School Inc Project, Series 2024

.750

08/15/54

2,607,479

14,495,000

(d) Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, Babcock Neighborhood School Inc Project, Series 2024

.000

08/15/63

13,263,860

515,000

Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, KIPP Miami North Campus Project, Refunding Series

2024A

.125

06/15/60

520,909

1,405,000

Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, LLT Academy South Bay Project, Series 2025

.250

06/15/55

1,431,180

765,000

Carlton Lakes Community Developement District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Series

2015

.625

11/01/36

774,541

1,855,000

Carlton Lakes Community Developement District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Series

2015

.750

11/01/47

1,866,286

625,000

Carlton Lakes Community Developement District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Series

2018

.125

05/01/38

633,539

1,235,000

Carlton Lakes Community Developement District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Series

2018

.250

05/01/49

1,237,346

1,000,000

(d) Caymas Community Development District, Collier County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 1, Series 2024

.625

05/01/54

989,587

820,000

(d) Cedar Crossing Community Development District, Polk County,

Florida, Special Assessment Bond, 2025 Project, Series 2025

.500

05/01/55

791,076

3,765,000

(e) Celebration Pointe Community Development District 1,

Alachua County, Florida, Special Assessment Revenue Bonds,

Series 2014

.000

05/01/34

3,012,000

9,305,000

(e) Celebration Pointe Community Development District 1,

Alachua County, Florida, Special Assessment Revenue Bonds,

Series 2014

.125

05/01/45

7,444,000

1,340,000

(e) Celebration Pointe Community Development District 1,

Alachua County, Florida, Special Assessment Revenue Bonds,

Series 2017

.000

05/01/32

1,072,000

6,205,000

(e) Celebration Pointe Community Development District 1,

Alachua County, Florida, Special Assessment Revenue Bonds,

Series 2017

.000

05/01/48

4,964,000

1,000,000

Center Lake Ranch West Community Development District,

Florida, Revenue Bonds Capital Improvement Assessment Area

One Series 2023

.750

05/01/43

1,027,535

750,000

Central Parc Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2024

.000

05/01/54

752,504

2,000,000

(d) Charlotte County Industrial Development Authority, Florida,

Utility System Revenue Bonds, Town & Country Utilities Project,

Series 2019, (AMT)

.000

10/01/49

1,935,213

4,540,000

(d) Charlotte County Industrial Development Authority, Florida,

Utility System Revenue Bonds, Town & Country Utilities Project,

Series 2021A, (AMT)

.000

10/01/51

3,717,422

3,550,000

(d) Charlotte County Industrial Development Authority, Florida,

Utility System Revenue Bonds, Town & Country Utilities Project,

Series 2025, (AMT)

.125

10/01/55

3,663,493

2,285,000

Coconut Cay Community Development District, Florida,

Special Assessment Bonds, Series 2006

.375

05/01/36

2,287,706

3,500,000

Collier County Educational Facilities Authority, Florida,

Revenue Bonds, Ave Maria University, Refunding Series 2023

.250

06/01/38

3,547,677

5,000,000

Collier County Educational Facilities Authority, Florida,

Revenue Bonds, Ave Maria University, Refunding Series 2023

.000

06/01/43

4,668,205

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,995,000

(d) Connerton East Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Project, Series 2023

.375

%

06/15/53

$

2,014,273

1,000,000

(d) Copper Creek Community Development District, Port Saint

Lucie, Florida, Special Assessment Bonds, Series 2019

.000

11/01/49

965,838

320,000

Coral Bay of Lee County Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area One, Series 2022

.500

05/01/42

328,480

500,000

(d) Coral Bay of Lee County Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area One, Series 2022

.625

05/01/52

504,559

1,030,000

(d) Coral Lakes Community Development District, Charlotte

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2024

.750

11/01/53

1,042,744

1,855,000

(d) Corkscrew Farms Community Development District, Lee

County, Florida, Special Assessment Bonds, Area 2 Project,

Series 2017

.000

11/01/38

1,883,823

3,735,000

(d) Corkscrew Farms Community Development District, Lee

County, Florida, Special Assessment Bonds, Area 2 Project,

Series 2017

.125

11/01/50

3,506,274

745,000

Creekside at Twin Creeks Community Development District,

Florida, Special Assessment Bonds, Area 1 Project, Series

2016A-1

.250

11/01/37

759,986

1,915,000

Creekside at Twin Creeks Community Development District,

Florida, Special Assessment Bonds, Area 1 Project, Series

2016A-1

.600

11/01/46

1,940,841

2,310,000

(d) Cross Creek North Community Development District, Clay

County, Florida, Special Assessment Bonds, Series 2018

.250

11/01/39

2,367,384

3,400,000

(d) Cross Creek North Community Development District, Clay

County, Florida, Special Assessment Bonds, Series 2018

.375

11/01/50

3,433,768

1,860,000

Cross Creek North Community Development District, Clay

County, Florida, Special Assessment Bonds, Series 2022

.500

05/01/52

1,696,626

1,500,000

Cross Creek North Community Development District, Clay

County, Florida, Special Assessment Bonds, Series 2023

.375

05/01/53

1,512,612

1,485,000

Crossings at Fleming Island Community Development District,

Florida, Special Assessment Revenue Bonds, Refunding Series

2014A-2

.000

05/01/30

1,488,143

1,990,000

Crossings at Fleming Island Community Development District,

Florida, Special Assessment Revenue Bonds, Refunding Series

2014A-3

.500

05/01/44

1,991,710

1,250,000

(d) Curiosity Creek Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, Series 2024

.700

05/01/55

1,229,044

8,060,000

Currents Community Development District, Collier County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 2 Series 2024

.800

05/01/54

7,798,932

2,920,000

(d) Currents Community Development District, Collier County,

Florida, Capital Improvement Revenue Bonds, Series 2020B

.250

05/01/41

2,641,116

1,225,000

Cypress Bay West Community Development District, Palm

Bay, Florida, Revenue Bonds, Assessment Area One Capital

Improvement Series 2023

.500

05/01/53

1,234,870

2,600,000

Cypress Bluff Community Development District, Florida,

Special Assessment Bonds, Series 2019

.100

05/01/48

2,602,962

115,000

Cypress Creek Community Development District, Hillborough

County, Florida, Capital Improvement Bonds, Subordinate Lien,

Series 2017A

.000

05/01/45

117,208

1,345,000

(d) Cypress Ridge Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Assessment Area

One Project, Series 2023

.875

05/01/53

1,370,149

1,500,000

(d) Deerbrook Community Development District, Pasco County,

Florida, Special Assessment Bonds, 2023 Project Series 2023

.500

05/01/53

1,514,876

2,000,000

(d),(i)

Deering Park Stewardship District, Volusia County, Florida,

Special Assessment Revenue Bonds, DPSD JV1 Assessment

Area 1 Series 2025

.250

05/01/55

2,055,714

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,000,000

(d),(i)

Del Webb Oak Creek Community Development District, Lee

County, Florida, Special Assessment Bonds, 2025 Project,

Series 2025

.625

%

05/01/55

$

997,960

995,000

(d) Downden West Community Development District, Florida,

Revenue Bonds Series 2018

.400

05/01/39

1,012,877

3,195,000

(d) Downden West Community Development District, Florida,

Revenue Bonds Series 2018

.550

05/01/49

3,229,048

7,880,000

(d) Downtown Doral Community Development District, Florida,

Special Assessment Bonds, Assessment Area 1, Series 2018A

.100

05/01/48

7,895,984

1,035,000

Downtown Doral Community Development District, Florida,

Special Assessment Bonds, Series 2015

.300

05/01/36

1,040,364

1,430,000

Downtown Doral Community Development District, Florida,

Special Assessment Bonds, Series 2015

.500

05/01/45

1,433,214

1,955,000

Downtown Doral Community Development District, Florida,

Special Assessment Bonds, Series 2015

.500

05/01/46

1,959,177

620,000

East 547 Community Development District, Florida, Special

Assessment Bonds, Area 2 Series 2023

.500

05/01/54

653,742

1,000,000

East Homestead Community Development District, Florida,

Special Assessment Revenue Bonds, Series 2019

.000

11/01/49

981,926

1,435,000

East Nassau Stewardship District, Florida, Special Assessment

Revenue Bonds, Series 2018

.125

05/01/39

1,455,955

2,415,000

East Nassau Stewardship District, Florida, Special Assessment

Revenue Bonds, Series 2018

.250

05/01/49

2,418,121

1,000,000

Edgewater East Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 3 Series 2025

.300

05/01/55

1,019,430

2,000,000

Edgewater West Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Series 2024

.500

05/01/54

1,914,249

4,385,000

(d) Epperson North Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 1,

Series 2018A-1

.750

11/01/49

4,469,052

4,000,000

Epperson Ranch Community Development District, Florida,

Capital Improvement Revenue Bonds, Series 2017A-1

.375

11/01/48

4,014,528

1,000,000

(d) Epperson Ranch II Community Development District, Florida,

Capital Improvement Revenue Bonds, Series 2018A-1

.500

05/01/39

1,024,190

2,000,000

(d) Epperson Ranch II Community Development District, Florida,

Capital Improvement Revenue Bonds, Series 2018A-1

.625

05/01/49

2,019,008

4,285,000

Estancia at Wiregrass Community Development District, Pasco

County, Florida, Capital Improvement Revenue Bonds, Series

2013

.000

11/01/45

4,408,481

14,845,000

Everest GMR Community Development District, Osceola

County, Florida, Special Assessment Bonds, Series 2023

.200

05/01/54

15,159,710

1,245,000

(d) Evergreen Community Development District, Florida, Special

Assessment Bonds, Series 2019

.000

11/01/39

1,261,680

145,000

(d) Everlands Community Development District, Florida, Special

Assessment Revenue Bonds, Assessment Area 2 Series 2024

.500

06/15/54

142,114

1,000,000

(d) Everlands Community Development District, Florida, Special

Assessment Revenue Bonds, Assessment Area 2 Series 2024

.550

06/15/54

998,466

750,000

Fallschase Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2021

.125

05/01/31

718,513

500,000

Finley Woods Community Development District, Florida,

Capital Improvement Bonds, Series 2020

.200

05/01/50

426,930

1,370,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Classical Preparatory Charter School,

Series 2019A

.125

06/15/46

1,373,437

765,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Classical Preparatory Incorporated

Project, Series 2017A

.000

06/15/37

769,389

1,510,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Classical Preparatory Incorporated

Project, Series 2017A

.125

06/15/46

1,513,788

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

830,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Classical Preparatory Incorporated

Project, Series 2018A

.125

%

06/15/46

$

832,082

1,245,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Creative Inspiration Journey School

of St. Cloud, Series 2021A

.000

06/15/41

1,133,852

3,000,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Discovery High School Project, Series

2020A

.000

06/01/40

2,323,709

2,500,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Discovery High School Project, Series

2020A

.000

06/01/55

1,659,797

5,620,000

Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Downtown Doral Charter Elementary

School Project, Series 2014A

.250

07/01/34

5,626,617

9,780,000

Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Downtown Doral Charter Elementary

School Project, Series 2014A

.500

07/01/44

9,784,906

3,935,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Downtown Doral Charter Elementary

School Project, Series 2017A

.750

07/01/44

3,904,045

9,205,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Downtown Doral Charter Upper

School Project, Series 2017C

.650

07/01/37

9,333,975

12,575,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Downtown Doral Charter Upper

School Project, Series 2017C

.750

07/01/47

12,373,840

17,675,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Dreamers Academy Project, Series

2022A

.000

01/15/57

15,698,205

4,735,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Florida Charter Foundation Inc.

Projects, Series 2016A

.000

07/15/46

4,314,536

5,410,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Innovation Montessori Ocoee

Projects, Taxable Series 2022A

.500

07/01/52

4,654,861

4,140,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Innovation Montessori Ocoee

Projects, Taxable Series 2022A

.625

07/01/56

3,580,384

4,000,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Pepin Academies of Pasco County

Inc., Series 2020A

.000

01/01/50

3,244,568

2,110,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School, Inc.

Projects, Series 2014A

.000

06/15/34

2,111,922

6,115,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School, Inc.

Projects, Series 2014A

.125

06/15/44

6,115,837

2,150,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Southwest Charter Foundation Inc

Projects, Series 2017A

.000

06/15/37

2,164,350

6,215,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Southwest Charter Foundation Inc

Projects, Series 2017A

.125

06/15/47

6,072,830

8,210,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, The Florida Charter Educational

Foundation Inc. Projects, Series 2016A

.375

06/15/46

8,231,055

5,000,000

(f) Florida Development Finance Corporation, Healthcare

Facilities Revenue Bonds, Tampa General Hospital Project,

Series 2024A, (UB)

.250

08/01/49

5,111,355

147,405,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT), (Mandatory Put

7/15/28)

.000

07/15/32

91,943,869

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

3,000,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

%

07/01/38

$

2,529,553

10,180,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.250

07/01/47

8,668,181

22,050,000

(f) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT),

(UB)

.250

07/01/47

21,716,068

21,715,000

(f) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT),

(UB)

.250

07/01/53

21,238,523

44,745,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.500

07/01/53

38,247,144

91,395,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Series

2025B, (AMT), (Mandatory Put 6/15/26)

.000

07/01/57

77,866,182

7,885,000

(d) Florida Development Finance Corporation, Student Housing

Revenue Bonds, SPP - Tampa I - LLC The Henry Project, Series

2024A-1

.250

06/01/54

7,525,485

6,225,000

(d) Florida Development Finance Corporation, Student Housing

Revenue Bonds, SPP - Tampa I - LLC The Henry Project, Series

2024A-1

.250

06/01/59

5,875,157

7,690,000

(d) Florida Development Finance Corporation, Student Housing

Revenue Bonds, SPP - Tampa I - LLC The Henry Project, Series

2024B

.500

06/01/59

7,623,398

1,875,000

(d) Florida Local Government Finance Commission, Senior Living

Revenue Bonds, Fleet Landing at Nocatee Project Series 2025A

.750

11/15/55

1,932,558

820,000

Florida Municipal Loan Council, Capital Improvement Revenue

Bonds, Shingle Creek Transportation and Utility Series 2024,

(AMT)

.400

05/01/54

822,816

995,000

Flow Way Community Development District, Collier County,

Florida, Special Assessment Bonds, Phase 4 Project, Series

2015

.125

11/01/36

1,003,570

1,485,000

Flow Way Community Development District, Collier County,

Florida, Special Assessment Bonds, Phase 4 Project, Series

2015

.375

11/01/46

1,490,585

2,450,000

Flow Way Community Development District, Collier County,

Florida, Special Assessment Bonds, Phase 5 Project, Series

2016

.000

11/01/46

2,446,858

1,000,000

Forest Brooke Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Series 2017

.000

12/15/37

1,009,682

2,000,000

Forest Brooke Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Series 2017

.125

12/15/46

2,003,623

440,000

(d) Forest Lake Community Development District, Polk County,

Florida, Specia Assessment Bonds, Assessment Area 2 Project,

Series 2022

.500

05/01/52

446,100

1,000,000

Fox Branch Ranch Community Development District, Polk

County, Florida, Revenue Bonds, Capital Improvement Area

One Series 2025

.400

05/01/55

976,989

3,000,000

(d) Gas Worx Community Development District, Tampa, Florida,

Special Assessment Bonds, Series 2025

.000

05/01/57

3,039,828

1,260,000

(d) GIR East Community Development District, Osceola County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 1, Series 2025

.500

05/01/55

1,215,556

1,310,000

(d) Governors Park South Community Development District, Clay

County, Florida, Special Assessment Revenue Bonds, Area 1

Series 2025

.650

05/01/55

1,295,253

3,000,000

Grand Bay at Doral Community Development District, Miami-

Dade County, Florida, Special Assessment Bonds, North Parcel

Assessment Area Project, Improvement Series 2014A-1

.000

05/01/44

2,999,761

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,050,000

Grand Bay at Doral Community Development District, Miami-

Dade County, Florida, Special Assessment Bonds, North Parcel

Assessment Area, Refunding Series 2014A-2

.000

%

05/01/39

$

1,050,285

2,095,000

Grand Bay at Doral Community Development District, Miami-

Dade County, Florida, Special Assessment Bonds, South Parcel

Assessment Area Project, Series 2016

.000

05/01/46

2,077,602

1,000,000

Grand Bay at Doral Community Development District, Miami-

Dade County, Florida, Special Assessment Improvement

Bonds, Assessment Area Two Project, Refunding Series

2014A-2

.500

05/01/39

1,001,427

1,820,000

Grand Oaks Community Development District, Saint Johns

County, Florida, Special Assessment Bonds, Series 2019A

.750

11/01/39

1,815,301

3,630,000

Grand Oaks Community Development District, Saint Johns

County, Florida, Special Assessment Bonds, Series 2019A

.000

11/01/50

3,498,611

10,535,000

(f) Greater Orlando Aviation Authority, Florida, Airport Facilities

Revenue Bonds, Priority Subordinate Series 2024, (AMT), (UB)

.250

10/01/51

10,916,705

20,000,000

(f) Greater Orlando Aviation Authority, Florida, Orlando Airport

Facilities Revenue Bonds, Priority Subordinated Series 2017A,

(AMT), (UB)

.000

10/01/52

17,477,482

530,000

Grove Resort Community Development District, Orange

County, Florida, Special Assessment Revenue Bonds, Series

2017A

.000

11/01/28

542,748

9,915,000

Grove Resort Community Development District, Orange

County, Florida, Special Assessment Revenue Bonds, Series

2017A

.875

11/01/47

10,390,297

2,305,000

Hacienda Lakes Community Development District, Collier

County, Florida, Special Assessment Bonds, Series 2016

.625

05/01/46

2,139,976

1,155,000

(d) Hamilton Bluff Community Development District, Lake

Hamilton, Florida, Special Assessment Bonds, Area 1 Project,

Series 2024

.800

05/01/54

1,150,323

1,000,000

(d) Hammock Oaks Community Development District, Florida,

Special Assessment Revenue Bonds, Area One Series 2023

.750

05/01/53

1,011,668

1,000,000

Hammock Oaks Community Development District, Lady Lake,

Florida, Special Assessment Revenue Bonds, Area 2, Series

2024

.150

05/01/54

1,010,630

2,180,000

Harmony Community Development District, Florida, Capital

Improvement Revenue Bonds, Special Assessment, Refunding

Series 2014

.250

05/01/32

2,180,228

930,000

(d) Harmony West Community Development District, Osceloa

County, Florida, Special Asssessment Revenue Bonds,

Assessment Area 1, Series 2018

.100

05/01/38

958,422

1,870,000

(d) Harmony West Community Development District, Osceloa

County, Florida, Special Asssessment Revenue Bonds,

Assessment Area 1, Series 2018

.250

05/01/49

1,877,287

1,000,000

(d) Harmony West Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 2, Series 2023

.300

05/01/53

1,005,007

1,000,000

(d) Harmony West Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 3, Series 2025

.650

05/01/55

995,807

1,000,000

Hawkstone Community Development District, Florida, Special

Assessment Revenue Bonds, Assessment Area 4, Series 2023

.500

05/01/53

1,009,917

1,435,000

(d) Hawthorne Mill North Community Development District,

Florida, Capital Improvement Revenue Bonds, Lakeland

Assessment Area Two Series 2024

.500

05/01/54

1,402,815

760,000

Hemingway Point Community Development District, Florida,

Special Assessment Bonds, Phase 2 Project, Series 2014

.000

11/01/34

760,455

110,000

Heritage Harbour North Community Development District,

Florida, Capital Improvement Revenue Bond, Refunding Series

2017A-1

.250

05/01/38

111,148

480,000

(d) Heron Isles Community Development District, Florida, Capital

Improvement Revenue Bonds, Refunding Subordinate Lien

Series 2017A-2

.000

05/01/36

484,901

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

800,000

(d) Hidden Creek Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 3,

Series 2019A-1

.250

%

11/01/39

$

817,483

4,430,000

Hidden Creek Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area One,

Series 2016A-1

.250

11/01/47

4,775,096

5,000,000

(d) Higher Educational Facilities Financing Authority, Florida,

Revenue Bonds, Keiser University Project, Series 2025

.000

07/01/45

4,969,084

365,000

Highland Meadows Community Development District,

Davenport, Florida, Special Assessment Revenue Bonds, Series

2006A

.500

05/01/36

365,310

1,015,000

Highland Meadows II Community Development District,

Davenport, Polk County, Florida, Special Assessment Revenue

Bonds, Area 4B/C Project, Series 2017

.000

11/01/48

1,000,414

390,000

Highland Meadows II Community Development District,

Davenport, Polk County, Florida, Special Assessment Revenue

Bonds, Area 5 Project, Series 2017

.375

11/01/37

396,062

790,000

Highland Meadows II Community Development District,

Davenport, Polk County, Florida, Special Assessment Revenue

Bonds, Area 5 Project, Series 2017

.500

11/01/47

795,197

310,000

Highland Meadows II Community Development District,

Davenport, Polk County, Florida, Special Assessment Revenue

Bonds, Area 6 Project, Series 2017

.500

11/01/47

312,039

2,045,000

(d) Highland Meadows West Community Development District,

Haines City, Florida, Special Assessment Bonds, Series 2019

.000

11/01/49

1,991,493

710,000

(d) Highlands Community Development District, Hillborough

County, Florida, Special Assessment Bonds, Assessment Area 4

Project, Series 2018

.250

06/15/39

723,314

1,205,000

(d) Highlands Community Development District, Hillborough

County, Florida, Special Assessment Bonds, Assessment Area 4

Project, Series 2018

.375

06/15/49

1,213,606

2,000,000

(d) Hillcrest Preserve Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds, 2024

Project Series 2024

.300

05/01/54

1,904,235

16,490,000

(f) Hillsborough County Aviation Authority, Florida, Revenue

Bonds, Tampa International Airport, Alternative Minimum Tax

Refunding Subordinate Lien Series 2022A, (AMT), (UB)

.000

10/01/52

14,432,689

22,000,000

(f) Hillsborough County Aviation Authority, Florida, Revenue

Bonds, Tampa International Airport, Series 2024B, (AMT), (UB)

.500

10/01/54

23,307,671

22,300,000

(f) Hillsborough County Aviation Authority, Florida, Revenue

Bonds, Tampa International Airport, Subordinate Lien Series

2018A, (AMT), (UB)

.000

10/01/48

22,303,512

4,650,000

Hillsborough County Industrial Development Authority, Florida,

Health System Revenue Bonds, BayCare Health System Series

2024C

.250

11/15/49

4,915,958

8,000,000

(f) Hillsborough County Industrial Development Authority, Florida,

Health System Revenue Bonds, BayCare Health System Series

2024C, (UB)

.250

11/15/49

8,457,562

19,810,000

(f) Hillsborough County Industrial Development Authority, Florida,

Health System Revenue Bonds, BayCare Health System Series

2024C, (UB)

.125

11/15/51

18,020,365

9,875,000

(f) Hillsborough County Industrial Development Authority, Florida,

Health System Revenue Bonds, BayCare Health System Series

2024C, (UB)

.500

11/15/54

10,619,606

3,000,000

Hillsborough County Industrial Development Authority, Florida,

Hospital Revenue Bonds, Florida Health Sciences Center Inc

D/B/A Tampa General Hospital, Series 2020A

.000

08/01/50

2,614,672

12,995,000

(f) Hillsborough County Industrial Development Authority, Florida,

Hospital Revenue Bonds, Florida Health Sciences Center Inc

D/B/A Tampa General Hospital, Series 2020A

.500

08/01/55

9,787,292

3,150,000

(f) Hillsborough County Industrial Development Authority, Florida,

Hospital Revenue Bonds, Florida Health Sciences Center Inc

D/B/A Tampa General Hospital, Series 2020A, (UB)

.000

08/01/55

2,773,561

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

350,000

Holly Hill Road East Community Development District,

Davenport, Florida, Special Assessment Revenue Bonds, Area

3 Project, Series 2020

.000

%

11/01/41

$

365,939

415,000

(d) Hunter's Ridge Community Development District 1, Flagler

County, Florida, Special Assessment Bonds, Assessment Area

1, Series 2019

.000

11/01/39

419,177

620,000

(d) Hunter's Ridge Community Development District 1, Flagler

County, Florida, Special Assessment Bonds, Assessment Area

1, Series 2019

.125

11/01/49

614,361

1,720,000

(d) Island Lake Estates Community Development District, Charlotte

County, Florida, Special Assessment Bonds, 2023 Project Series

2023

.000

12/15/53

1,778,878

1,900,000

Isles of Bartram Park Community Development District, Saint

Johns County, Florida, Special Assessment Bonds, Series 2015

.000

11/01/35

1,900,727

2,905,000

Isles of Bartram Park Community Development District, Saint

Johns County, Florida, Special Assessment Bonds, Series 2015

.125

11/01/45

2,874,787

985,000

Isles of Bartram Park Community Development District, Saint

Johns County, Florida, Special Assessment Bonds, Series 2017

.000

11/01/47

951,685

4,265,000

Jacksonville, Florida, Special Revenue Bonds, Refunding Series

2023A

.500

10/01/53

4,556,894

450,000

K-Bar Ranch Community Development District, Florida, Special

Assessment Revenue Bonds, Parcel O-1 Project, Series 2014

.125

11/01/34

450,317

895,000

K-Bar Ranch Community Development District, Florida, Special

Assessment Revenue Bonds, Parcel O-1 Project, Series 2014

.375

11/01/44

895,179

560,000

K-Bar Ranch Community Development District, Florida, Special

Assessment Revenue Bonds, Parcel Q Project, Series 2014

.125

11/01/34

560,395

1,025,000

K-Bar Ranch Community Development District, Florida, Special

Assessment Revenue Bonds, Parcel Q Project, Series 2014

.375

11/01/44

1,025,188

4,000,000

(d) Kingston One Community Development District, Lee County,

Florida, Special assessment Bonds, Assessment Area 1 2025

Project, Series 2025

.750

05/01/45

4,071,558

1,750,000

Lake Deer Community Development District, Polk County

Florida, Special Assessment Revenue Bonds, Series 2022

.625

05/01/53

1,750,873

1,360,000

Lake Emma Community Development District, Lake County,

Florida, Special Assessment Bonds, Area 2 2023 Project, Series

2023

.500

05/01/53

1,383,663

985,000

(d) Lake Harris Community Development District, Lake County,

Florida, Special Assessment Bonds, 2023 Project Area Series

2023

.625

05/01/53

1,003,593

2,450,000

(d) Lake Hideaway Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area One, Series 2024

.900

05/01/54

2,446,879

1,000,000

(d) Lakeside at Satilla Community Development District, Osceola

County, Florida, Capital Improvement Revenue Bonds, Series

2025

.625

05/01/55

997,937

2,940,000

Lakeside Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Series 2015

.750

05/01/45

2,941,230

1,595,000

Lakeside Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Series 2018

.000

05/01/38

1,610,824

2,660,000

Lakeside Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Series 2018

.100

05/01/48

2,630,530

420,000

Lakeside Preserve Community Development District, Lakeland,

Florida, Special Assessment Bonds, Series 2019

.875

05/01/39

419,925

575,000

Lakeside Preserve Community Development District, Lakeland,

Florida, Special Assessment Bonds, Series 2019

.000

05/01/49

554,263

3,690,000

(d) Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Del Webb Project, Series 2017

.125

05/01/47

3,702,052

1,110,000

Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Isles Lakewood Ranch Project,

Series 2019

.700

05/01/39

1,116,633

2,240,000

Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Northeast Sector Project, Phase

1B, Series 2018

.300

05/01/39

2,269,286

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

3,995,000

Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Northeast Sector Project, Phase

1B, Series 2018

.450

%

05/01/48

$

4,033,120

3,180,000

Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Southeast Project, Series 2025

.000

05/01/56

3,246,389

530,000

Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Star Farms at Lakewood Ranch

Project, Series 2024

.550

05/01/54

532,888

1,355,000

(d) Lawson Dunes Community Development District, Haines City,

Florida, Special Assessment Revenue Bonds, 2022 Project

Series 2022

.000

05/01/42

1,363,140

2,465,000

(d) Lawson Dunes Community Development District, Haines City,

Florida, Special Assessment Revenue Bonds, 2022 Project

Series 2022

.125

05/01/52

2,415,001

1,620,000

Lee County Housing Finance Authority, Florida, Multifamily

Housing Revenue Bonds, Janies Garden Phase 2, Series 2010B,

(Mandatory Put 9/15/27)

.250

09/15/47

1,621,163

2,940,000

Lee County Industrial Development Authority, Florida, Charter

School Revenue Bonds, Lee County Community Charter

Schools, Series 2007A

.250

06/15/27

2,941,674

35,550,000

Lee County Industrial Development Authority, Florida, Charter

School Revenue Bonds, Lee County Community Charter

Schools, Series 2007A

.375

06/15/37

35,549,954

2,360,000

(d) Lee County Industrial Development Authority, Florida, Charter

School Revenue Bonds, Lee County Community Charter

Schools, Series 2012A

.500

06/15/32

2,361,648

4,700,000

(d) Lee County Industrial Development Authority, Florida, Charter

School Revenue Bonds, Lee County Community Charter

Schools, Series 2012A

.750

06/15/42

4,670,421

790,000

(d) Lee County Industrial Development Authority, Florida,

Healthcare Facilities Revenue Bonds, Preserve Project, Series

2017A

.375

12/01/32

632,837

2,000,000

(d) Lee County Industrial Development Authority, Florida,

Healthcare Facilities Revenue Bonds, Preserve Project, Series

2017A

.625

12/01/37

1,540,599

11,650,000

(d) Lee County Industrial Development Authority, Florida,

Healthcare Facilities Revenue Bonds, Preserve Project, Series

2017A

.750

12/01/52

8,391,079

10,000,000

(f) Lee County, Florida, Airport Revenue Bonds, Series 2021B,

(AMT), (UB)

.000

10/01/46

10,094,437

20,045,000

(f) Lee County, Florida, Airport Revenue Bonds, Series 2021B,

(AMT), (UB)

.000

10/01/51

17,487,481

12,850,000

(f) Lee County, Florida, Airport Revenue Bonds, Series 2024,

(AMT), (UB)

.250

10/01/54

13,124,410

157,000

Lexington Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2007

.400

05/01/37

157,111

2,105,000

(d) Liberty Cove Community Development District, Nassau County,

Florida, Special Assessment Revenue Bonds, Assessment Area

1, Series 2024

.700

05/01/54

2,055,910

1,185,000

(d) Longleaf Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Neighborhood

4 Assessment Area Two Series 2024A

.450

05/01/55

1,129,973

1,260,000

(d) Lowery Hills Community Development District, Lake Alfred,

Florida, Special Assessments Revenue Bonds, Assessment Area

1, Series 2025

.850

05/01/55

1,247,846

960,000

(d) LTC Ranch Residential Community Development District, Port

Saint Lucie, Florida, Special Assessment Bonds, Assessment

Area 4 Project, Refunding Series 2024AA4

.650

05/01/54

937,495

1,185,000

Lucerne Park Community Development District, Florida,

Special Assessment Revenue Bonds, Series 2019

.750

05/01/50

1,105,730

5,780,000

Magic Place Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds, Series

2019

.500

05/01/51

4,996,946

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,000,000

Majorca Isles Community Development District, Mianmi

Gardens, Florida, Special Assessment Bonds, Series 2015

.375

%

05/01/35

$

1,006,359

3,610,000

Majorca Isles Community Development District, Mianmi

Gardens, Florida, Special Assessment Bonds, Series 2015

.625

05/01/46

3,620,270

1,880,000

(d) Malabar Springs Community Development District, Florida,

Special Assessment Revenue Bonds, Palm Bay Area One Series

2024

.500

05/01/54

1,814,623

16,150,000

(f) Manatee County, Florida, Revenue Improvement and

Refunding Bonds, Series 2022, (UB)

.000

10/01/52

14,819,204

2,005,000

(d) Mandarin Grove Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds, 2022

Project Series 2022

.625

05/01/53

2,293,572

410,000

Meadow Pines Community Development District, Florida,

Special Assessment Revenue Bonds, Refunding Series 2014-2

.000

05/01/34

410,632

2,700,000

Mediterranea Community Development District, Riviera Beach,

Florida, Special Assessment Bonds, Area 2 Project, Refunding

& Improvement Series 2017

.000

05/01/48

2,655,572

1,000,000

(d) Miami Dade County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, Miami Community

Charter School Inc Project, Series 2020A

.000

06/01/47

884,209

3,895,000

(d) Miami Dade County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, South Florida Autism

Charter School Project, Series 2017

.875

07/01/37

3,917,764

6,530,000

(d) Miami Dade County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, South Florida Autism

Charter School Project, Series 2017

.000

07/01/47

6,474,137

13,505,000

Miami World Center Community Development District, Miami-

Dade County, Florida, Special Assessment Bonds, Series 2017

.125

11/01/39

13,685,287

12,255,000

Miami World Center Community Development District, Miami-

Dade County, Florida, Special Assessment Bonds, Series 2017

.250

11/01/49

12,309,244

6,200,000

(f) Miami, Florida, Special Obligation Non-Ad Valorem Revenue

Bonds, New Administrative Building Series 2023A, (UB)

.000

03/01/48

6,393,764

9,565,000

(f) Miami-Dade County Educational Facilities Authority, Florida,

Revenue Bonds, University of Miami, Series 2018A, (UB)

.000

04/01/53

9,630,256

30,000

Miami-Dade County Expressway Authority, Florida, Toll System

Revenue Bonds, Series 2010A

.000

07/01/40

30,134

6,300,000

(d) Miami-Dade County Industrial Development Authority, Florida,

Industrial Development Revenue Bonds, CFC-MB I, LLC Collins

Park Housing Project Series 2023

.250

01/01/59

6,301,685

900,000

Miami-Dade County Industrial Development Authority, Florida,

Revenue Bonds, PInecrest Academy Project, Series 2014

.000

09/15/34

900,258

1,730,000

Miami-Dade County Industrial Development Authority, Florida,

Revenue Bonds, PInecrest Academy Project, Series 2014

.250

09/15/44

1,652,146

1,500,000

(d) Miami-Dade County Industrial Development Authority, Florida,

Revenue Bonds, Youth Co-Op Charter Schools Project, Series

2015A

.750

09/15/35

1,500,342

2,250,000

(d) Miami-Dade County Industrial Development Authority, Florida,

Revenue Bonds, Youth Co-Op Charter Schools Project, Series

2015A

.000

09/15/45

2,249,779

14,790,000

(f) Miami-Dade County, Florida, Seaport Revenue Bonds,

Refunding Series 2021A-1 - AGM Insured, (AMT), (UB)

.000

10/01/45

13,214,350

11,960,000

(f) Miami-Dade County, Florida, Seaport Revenue Bonds,

Refunding Subordinate Series 2021B-1, (AMT), (UB)

.000

10/01/46

10,488,628

7,935,000

(f) Miami-Dade County, Florida, Seaport Revenue Bonds,

Refunding Subordinate Series 2021B-1, (AMT), (UB)

.000

10/01/50

6,816,044

3,550,000

(d) Miami-Dade County, Florida, Special Assessment Revenue

Bonds, Ojus Sanitary Sewer Special Benefit Area, Series 2021

.100

07/01/51

3,552,287

5,000,000

(f) Miami-Dade County, Florida, Transit System Sales Surtax

Revenue Bonds, Series 2018, (UB)

.000

07/01/48

4,620,339

15,995,000

(f) Miami-Dade County, Florida, Water and Sewer System

Revenue Bonds, Series 2021, (UB)

.000

10/01/51

14,152,365

2,390,000

(d) Middleton Community Development District A, Florida, Special

Assessment Revenue Bonds, Series 2022

.200

05/01/53

2,494,520

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

800,000

Midtown Miami Community Development District, Florida,

Special Assessment Revenue Bonds, Infrastrusture Project,

Refunding Series 2014B

.000

%

05/01/29

$

800,684

3,705,000

Midtown Miami Community Development District, Florida,

Special Assessment Revenue Bonds, Infrastrusture Project,

Refunding Series 2014B

.000

05/01/37

3,705,993

9,770,000

Midtown Miami Community Development District, Florida,

Special Assessment Revenue Bonds, Parking Garage Project,

Refunding Series 2014A

.000

05/01/37

9,772,617

4,570,000

(d) Mirada Community Development District, Florida, Capital

Improvement Bonds, Assessment Area 3 Series 2024

.000

05/01/55

4,591,293

200,000

(d) Mirada II Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2022

.125

05/01/32

209,785

585,000

(d) Mirada II Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2022

.600

05/01/42

601,438

990,000

(d) Mirada II Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2022

.750

05/01/53

1,008,469

2,645,000

(d) Naples Reserve Community Development District, Collier

County, Florida, Special Assessment Bonds, Series 2018

.125

11/01/48

2,646,270

870,000

(e) Naturewalk Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2007A

.500

05/01/38

330,600

1,590,000

(e) Naturewalk Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2007B

.300

05/01/26

604,200

2,130,000

(d) Normandy Community Development District, Florida, Capital

Improvement Revenue Bonds, Jacksonville Assessment Area

One Series 2024

.550

05/01/54

2,041,996

520,000

(d) North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 3,

Series 2023

.750

05/01/43

530,688

1,070,000

(d) North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 3,

Series 2023

.000

05/01/54

1,091,534

635,000

(d) North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 5,

Series 2024

.000

05/01/54

644,790

715,000

North Boulevard Community Development District, Haines,

Polk County, Florida, Special Assessment Bonds, Series 2019

.500

11/01/39

738,121

1,240,000

North Boulevard Community Development District, Haines,

Polk County, Florida, Special Assessment Bonds, Series 2019

.625

11/01/49

1,260,932

1,915,000

(d) North Powerline Road Community Development District, Polk

County, Florida, Special Assessment Revenue Bonds, Series

2022

.625

05/01/52

1,959,004

1,000,000

North Springs Improvement District, Browaard County, Florida,

Special Assessment Bonds, Area C, Series 2017

.000

05/01/38

1,010,892

5,000,000

(d) North Springs Improvement District, Broward County, Florida,

Water Mangement Bonds, Unit Area C, Series 2017

.000

05/01/48

4,957,368

3,000,000

Northern Palm Beach County Improvement District, Florida,

Water Control and Improvement Bonds, Development Unit 2C,

Series 2017

.000

08/01/46

3,001,445

13,280,000

Northern Palm Beach County Improvement District, Florida,

Water Control and Improvement Bonds, Development Unit 53,

Series 2015

.500

08/01/46

13,328,426

3,280,000

Northern Palm Beach County Improvement District, Florida,

Water Control and Improvement Bonds, Development Unit 53,

Series 2018A

.500

08/01/39

3,373,699

5,730,000

Northern Palm Beach County Improvement District, Florida,

Water Control and Improvement Bonds, Development Unit 53,

Series 2018A

.625

08/01/49

5,812,279

3,900,000

(d) Ocean and Highway Port Authority, Florida, Port Facilities

Revenue Bonds, Worldwide Terminals Fernandina, LLC Project,

Series 2019, (AMT)

.500

12/01/49

3,051,656

1,530,000

Old Hickory Community Development District, Osceola

County, Florida, Special Assessment Bonds, Series 2020

.000

06/15/50

1,225,273

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,185,000

Orange Blossom Groves Community Development District,

Collier County, Florida, Special Assessment Bonds, 2023

Project, Series 2023

.375

%

06/15/53

$

1,202,453

5,000,000

Orange County Health Facilities Authority, Florida, Hospital

Revenue Bonds, Orlando Health Obligated Group, Inc. Series

2025A

.250

10/01/56

5,203,618

34,000,000

(f) Orange County Health Facilities Authority, Florida, Hospital

Revenue Bonds, Orlando Health Obligated Group, Inc. Series

2025A, (UB)

.250

10/01/56

35,384,606

2,240,000

Orchid Grove Community Development District, Florida,

Special Assessment Bonds, Refunding Series 2015

.000

05/01/36

2,248,940

810,000

Osceola Chain Lakes Community Development District,

Florida, Capital Improvement Revenue Bonds, Series 2018

.125

05/01/38

820,475

1,130,000

Osceola Chain Lakes Community Development District,

Florida, Capital Improvement Revenue Bonds, Series 2018

.250

05/01/48

1,132,014

2,700,000

Palermo Community Development District, Florida, Special

Assessment Bonds, 2023 Project, Series 2023

.250

06/15/53

2,708,297

600,000

Palermo Community Development District, Lee County,

Florida, Special Assessment Bonds, Area 2, Series 2025

.500

06/15/55

609,858

17,865,000

(f) Palm Beach County Health Facilities Authority, Florida, Hospital

Revenue Bonds, Baptist Health Systems of South Florida

Obligated Group, Series 2019, (UB)

.000

08/15/49

15,760,910

8,315,000

(d) Palm Beach County, Florida, Revenue Bonds, Provident Group

- LU Properties LLC Lynn University Housing Project, Series

2021A

.000

06/01/57

7,159,113

4,160,000

Palm Beach County, Florida, Revenue Bonds, Provident Group

- LU Properties LLC Lynn University Housing Project, Series

2024A

.125

06/01/54

3,999,798

3,640,000

Palm Beach County, Florida, Revenue Bonds, Provident Group

- LU Properties LLC Lynn University Housing Project, Series

2024A

.250

06/01/59

3,528,749

10,000,000

(d) Palm Beach County, Florida, Revenue Bonds, Provident Group

- PBAU Properties II LLC - Palm Beach Atlantic University

Housing Project, Senior Series 2025A

.750

10/01/65

10,203,236

1,200,000

(d) Palm Beach County, Florida, Revenue Bonds, Provident Group

- PBAU Properties II LLC - Palm Beach Atlantic University

Housing Project, Subordinate Series 2025B

.750

10/01/55

1,228,603

1,000,000

Palm Coast Park Community Development District, Florida,

Special Assessment Revenue Bonds, Series 2023

.600

05/01/53

1,007,409

750,000

(d) Palm Gate Community Development District, Florida, Special

Assessment Bond, 2025 Project, Series 2025

.550

06/15/55

731,779

545,000

Park Creek Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 13A-1

.375

11/01/44

568,707

2,310,000

Park East Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2021

.000

11/01/51

1,870,869

1,000,000

Parker Pointe Community Development District, Miami-Dade

County, Florida, Special Assessment Revenue Bonds, Series

2024

.750

05/01/54

989,033

800,000

Parker Road Community Development District, Florida, Capital

Improvement Revenue Bonds, Refudning Series 2020

.875

05/01/40

681,012

915,000

Parrish Lakes Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, Series 2023

.125

05/01/43

907,628

1,815,000

Parrish Lakes Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, Series 2023

.400

05/01/53

1,812,727

1,715,000

(d) Parrish Lakes Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 3, Series 2024

.800

05/01/54

1,712,797

1,000,000

Pasco County, Florida, Cigarette Tax Allocation Bonds, H.

Lee Moffitt Cancer Center and Research Institute Capital

Improvement Series 2023A - AGM Insured

.000

09/01/48

1,023,457

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,000,000

(d) Peace Creek Community Development District, Winter Haven,

Florida, Special Assessment Revenue Bonds, Area One Series

2023

.375

%

06/15/53

$

2,016,796

880,000

Poinciana West Community Development District, Florida,

Special Assessment Bonds, Refunding Subordinate Series

2016-2

.700

05/01/37

896,192

665,000

Poitras East Community Development District, Osceola County,

Florida, Special Assessment Revenue Bonds, Series 2025

.850

05/01/45

676,394

1,000,000

Poitras East Community Development District, Osceola County,

Florida, Special Assessment Revenue Bonds, Series 2025

.100

05/01/55

1,017,418

500,000

Preserve at South Branch Community Development District,

Pasco County, Florida, Special Assessment Revenue Bonds,

Phase 1 Series 2018

.250

11/01/38

518,003

1,000,000

Preserve at South Branch Community Development District,

Pasco County, Florida, Special Assessment Revenue Bonds,

Phase 1 Series 2018

.375

11/01/49

1,011,397

2,130,000

Punta Gorda Housing Authority, Florida, Gulf Breeze

Apartments Multifamily Housing Revenue Bonds, Series 2007A,

(AMT)

.125

01/01/45

2,020,220

1,500,000

(d) Radiance Community Development District, Flagler County,

Florida, Special Assessment Bonds, Assessment Area 1, Series

2025

.400

05/01/56

1,534,184

1,000,000

(d) Ranches at Lake McLeod Community Development District,

Polk County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2023

.500

06/15/53

1,008,669

1,250,000

(d) Ranches at Lake McLeod Community Development District,

Polk County, Florida, Special Assessment Revenue Bonds,

Assessment Area 2 Series 2025

.650

06/15/55

1,242,696

1,025,000

Randal Park Community Development District, Orlando,

Florida, Special Assessment Revenue Bonds, Series 2012

.125

11/01/32

1,102,970

1,000,000

Randal Park Community Development District, Orlando,

Florida, Special Assessment Revenue Bonds, Series 2012

.875

11/01/42

1,100,860

1,350,000

Randal Park Community Development District, Orlando,

Florida, Special Assessment Revenue Bonds, Series 2015

.000

11/01/35

1,350,745

2,270,000

Randal Park Community Development District, Orlando,

Florida, Special Assessment Revenue Bonds, Series 2015

.200

11/01/45

2,270,118

725,000

(d) Regal Village Community Development District, Florida City,

Florida, Capital Improvement Revenue Bonds, Series 2024

.500

05/01/54

720,944

7,485,000

Reunion East Community Development District, Osceola

County, Florida, Special Assessment Bonds, Refunding Series

2015A

.000

05/01/33

7,493,050

2,705,000

(d) Reunion West Community Development District, Florida,

Special Assessment Bonds, Area 2 Phase 1 Project, Refunding

& Improvement Series 2015

.000

11/01/47

2,706,450

2,530,000

Reunion West Community Development District, Florida,

Special Assessment Bonds, Area 3 Project, Series 2016

.000

11/01/46

2,531,750

675,000

Reunion West Community Development District, Osceola

County, Florida, Special Assessment Bonds, Area 5 Project,

Series 2019

.500

05/01/39

662,438

2,000,000

Reunion West Community Development District, Osceola

County, Florida, Special Assessment Bonds, Area 5 Project,

Series 2019

.625

05/01/50

1,834,456

160,000

Rhodine Road North Community Development District,

Hillsborough County, Florida, Special Assessment Bonds,

Series 2019

.750

05/01/50

149,716

1,065,000

Rhodine Road North Community Development District,

Hillsborough County, Florida, Special Assessment Bonds,

Series 2022

.000

05/01/52

890,406

998,000

Riverbend West Community Development District,

Hilsborough County, Florida, Special Assessment Bonds, Series

2016

.000

05/01/46

985,943

1,310,000

Rivers Edge Community Development District, Florida, Capital

Improvement Revenue Bonds, Refunding Subordinate Lien

Series 2018A-2

.000

05/01/38

1,325,223

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

565,000

Rolling Hills Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2015A-1

.450

%

05/01/31

$

569,005

820,000

Rolling Hills Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2015A-1

.600

05/01/37

823,456

1,300,000

Rolling Hills Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2020A-1

.875

05/01/50

1,237,084

1,000,000

Rolling Oaks Community Development District, Florida, Special

Assessment Bonds, Series 2016

.875

11/01/37

1,027,368

990,000

Rolling Oaks Community Development District, Florida, Special

Assessment Bonds, Series 2016

.000

11/01/47

1,007,341

1,995,000

(d) Rolling Oaks Community Development District, Florida, Special

Assessment Bonds, Series 2018

.375

11/01/38

2,045,275

3,745,000

(d) Rolling Oaks Community Development District, Florida, Special

Assessment Bonds, Series 2018

.500

11/01/49

3,785,501

1,510,000

(d) Rolling Oaks Community Development District, Osceola

County, Florida, Special Assessment Bonds, 2022 Assessment

Area, Series 2022

.500

05/01/53

1,574,164

1,700,000

Sabal Palm Community Development District, Florida, Special

Assessment Bonds, Series 2016

.500

11/01/46

1,707,538

1,250,000

(d) Sabal Palm Community Development District, Florida, Special

Assessment Bonds, South Parcel Series 2017

.000

11/01/47

1,238,332

1,240,000

Saint Augustine Lakes Community Development District,

Saint Johns County, Florida, Special Assessment Bonds, 2022

Project, Series 2022

.500

06/15/53

1,251,528

1,000,000

Saltmeadows Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1, Series 2022

.500

05/01/53

1,010,538

1,980,000

Sarasota County Public Hospital District, Florida, Hospital

Revenue Bonds, Sarasota Memorial Hospital Project, Series

2022

.000

07/01/52

1,699,540

15,000,000

(f) Sarasota County Public Hospital District, Florida, Hospital

Revenue Bonds, Sarasota Memorial Hospital Project, Series

2022, (UB)

.000

07/01/52

12,875,302

750,000

Savanna Lakes Community Development District, Lee County,

Florida, Special Assessment Revenue Bonds, Assessment Area

Two Series 2024

.500

06/15/54

743,502

2,500,000

(d) Sawgrass Village Community Development District, Manatee

County, Florida, Special Assessment Bonds, 2023 Project Series

2023

.750

05/01/53

2,523,016

1,045,000

Sawgrass Village Community Development District, Manatee

County, Florida, Special Assessment Bonds, Assessment Area 2

Series 2023

.375

11/01/53

1,088,485

2,305,000

(d) Sawyers Landing Community Development District, Florida,

Special Assessment Revenue Bonds, Series 2021

.125

05/01/41

2,100,440

1,670,000

(d) Scenic Terrace North Community Development District,

Florida, Special Assessment Revenue Bonds, Series 2023

.125

05/01/54

1,715,296

1,130,000

(d) Seaton Creek Reserve Community Development District,

Jacksonville, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2023

.500

06/15/53

1,145,489

1,185,000

Sedona Point Community Development District, Florida,

Special Assessment Bonds, Project Series 2023

.000

06/15/53

1,165,741

1,045,000

(d) Seminole Palms Community Development District, Palm Coast,

Florida, Special Assessment Revenue Bonds, 2023 Project Area

Series 2023

.700

05/01/53

1,059,802

1,950,000

(d) Seminole Palms Community Development District, Palm Coast,

Florida, Special Assessment Revenue Bonds, 2024 Project Area

2 Series 2024

.500

05/01/55

1,865,219

1,500,000

(d) Shell Point Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Refunding Series

2019

.250

11/01/39

1,527,756

2,990,000

(d) Shell Point Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Refunding Series

2019

.375

11/01/49

3,008,748

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,750,000

Sherwood Manor Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Area Two, Series 2023

.625

%

05/01/53

$

1,781,941

4,000,000

Shingle Creek Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 2 Series 2019

.000

05/01/49

3,908,538

390,000

(d) Silverado Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 1A, Series

2018A-1

.250

11/01/38

395,979

580,000

(d) Silverado Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 1A, Series

2018A-1

.375

11/01/48

583,053

1,500,000

(d) Silverado Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 1B, Refunding

Series 2018A-2

.500

05/01/49

1,552,250

310,000

(d) Silverado Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2017A-1

.500

11/01/47

311,978

1,970,000

Six Mile Creek Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 1,

Refunding Series 2015

.000

05/01/38

1,990,439

3,925,000

Six Mile Creek Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2

Phase 2, Series 2017A

.250

11/01/48

3,937,365

1,500,000

(d) Six Mile Creek Community Development District, Saint Johns

County, Florida, Capital Improvement Revenue Bonds, 2023

Project Area Series 2023

.700

05/01/54

1,527,728

1,500,000

(d) Solaeris Community Development District, St. Lucie County,

Florida, Special Assessment Bonds, Area 2 Project, Series 2025

.300

05/01/56

1,532,071

995,000

Solterra Resort Community Development District, Polk County,

Florida, Special Assessment Bonds, Series 2018

.250

05/01/39

1,014,884

2,925,000

Solterra Resort Community Development District, Polk County,

Florida, Special Assessment Bonds, Series 2018

.375

05/01/49

2,948,188

1,405,000

(d) Somerset Bay Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, Series 2024

.900

05/01/54

1,382,265

1,000,000

(d) Sorrento Pines Community Development District Special

Assessment Revenue Bonds, Florida, Area One Series 2023

.500

05/01/53

1,018,653

15,000,000

(f) South Broward Hospital District, Florida, Hospital Revenue

Bonds, South Broward Hospital District Obligated Group,

Refunding Series 2016A, (UB)

.000

05/01/44

13,941,860

5,000,000

(f) South Broward Hospital District, Florida, Hospital Revenue

Bonds, South Broward Hospital District Obligated Group,

Series 2018, (UB)

.000

05/01/48

4,662,708

35,000

South Fork III Community Development District, Florida,

Special Assessment Revenue Bonds, Refunding Series 2016

.000

05/01/29

35,717

780,000

South Fork III Community Development District, Florida,

Special Assessment Revenue Bonds, Refunding Series 2016

.375

05/01/37

790,164

2,730,000

South Fork III Community Development District, Florida,

Special Assessment Revenue Bonds, Refunding Series 2016

.625

05/01/47

2,749,126

1,510,000

South Fork III Community Development District, Florida,

Special Assessment Revenue Bonds, Refunding Series 2018

.000

05/01/38

1,526,080

3,750,000

South Fork III Community Development District, Florida,

Special Assessment Revenue Bonds, Refunding Series 2018

.375

05/01/49

3,764,727

8,250,000

South Miami Health Facilities Authority, Florida, Hospital

Revenue Bonds, Baptist Health Systems of South Florida

Obligated Group, Refunding Series 2017 - BAM Insured

.000

08/15/47

8,350,290

400,000

South Village Community Development District, Clay County,

Florida, Capital Improvement Revenue Bonds, Refunding

Series 2016A2

.875

05/01/35

401,405

100,000

South Village Community Development District, Clay County,

Florida, Capital Improvement Revenue Bonds, Refunding

Series 2016A2

.000

05/01/38

100,248

2,015,000

South-Dade Venture Community Development District, Florida,

Special Assessment Revenue Bonds, Refunding Series 2013

.250

05/01/34

2,016,964

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

930,000

Southshore Bay Community Development District,

Hillsborough County, Florida, Capital Improvement Revenue

Bonds, Assessment Area 2, Series 2024

.625

%

05/01/54

$

913,878

1,000,000

Spencer Creek Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Series

2019

.000

05/01/39

1,011,838

1,250,000

Spencer Creek Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Series

2019

.250

05/01/49

1,253,234

1,955,000

Spring Lake Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Area One Project,

Series 2014

.125

11/01/34

1,956,426

3,265,000

Spring Lake Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Area One Project,

Series 2014

.500

11/01/44

3,266,026

1,525,000

(d) Spring Lake Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Area Two Project,

Series 2017

.125

11/01/37

1,543,328

2,995,000

(d) Spring Lake Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Area Two Project,

Series 2017

.250

11/01/47

3,000,097

2,195,000

Stonegate Community Development District, Florida, Special

Assessment Revenue Bonds, Refunding Series 2013

.000

05/01/34

2,196,796

995,000

Stonegate Preserve Community Development District, Florida,

Manatee County Special Assessment Revenue Bonds 2023

Project Area Series 2023

.125

12/15/53

1,055,407

1,635,000

Stoneybrook North Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area One

Project, Series 2017A-3

.875

11/01/29

1,652,070

400,000

(d) Stoneybrook North Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area Two

Project, Series 2022

.375

11/01/52

429,525

1,000,000

(d) Stoneybrook South at Championsgate Community

Development District, Osceola County, Florida, Special

Assessment Revenue Bonds, 2023 Assessment Area Series

2023

.500

06/15/53

1,035,462

3,945,000

Stoneybrook South Community Development District,

Osceola County, Florida, Special Assessment Revenue Bonds,

Assessment Area Two-A Project, Series 2014

.500

11/01/44

4,048,602

1,075,000

(d) Storey Creek Community Development District, Osceloa

County, Florida, Special Assessment Bonds, Assessment Area 2

Project, Series 2022

.375

06/15/52

1,066,806

500,000

(d) Summer Woods Community Development District, Manatee

County, Florida, Special Assessment Bonds, Area 1 Project,

Series 2018A-1

.250

11/01/38

508,813

1,320,000

(d) Summer Woods Community Development District, Manatee

County, Florida, Special Assessment Bonds, Area 1 Project,

Series 2018A-1

.375

11/01/48

1,326,948

1,561,000

Summit At Fern Hill Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Series 2016

.000

05/01/46

1,555,945

955,000

(d) Summit View Community Development District, Dade City,

Florida, Special Assessment Area Two Revenue Bonds, Series

2024

.000

05/01/54

967,789

1,000,000

(d) Sunbridge Stewardship District, Florida, Special Assessment

Revenue Bonds, Weslyn Park Project, Series 2022

.200

05/01/42

1,007,076

2,000,000

(d) Sunbridge Stewardship District, Florida, Special Assessment

Revenue Bonds, Weslyn Park Project, Series 2022

.350

05/01/52

2,003,493

11,540,000

(f) Tampa, Florida, Health System Revenue Bonds, Baycare Health

System, Series 2016A, (UB)

.000

11/15/46

11,579,288

1,500,000

Tampa, Florida, Hospital Revenue Bonds, H. Lee Moffitt Cancer

Center Project, Series 2020B

.000

07/01/45

1,348,665

1,815,000

Tapestry Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2016

.000

05/01/46

1,795,353

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,000,000

Terreno Community Development District, Collier County,

Florida, Special Assessment Bonds, Series 2023

.250

%

05/01/53

$

1,991,690

1,000,000

(d) Terreno Community Development District, Collier County,

Florida, Special Assessment Bonds, Series 2025

.650

05/01/55

1,001,482

3,255,000

Three Rivers Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2019A-1

.750

05/01/50

3,037,258

995,000

(d) Timber Creek Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Series

2018

.000

11/01/38

1,017,671

1,250,000

(d) Timber Creek Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Series

2018

.000

11/01/48

1,228,709

1,075,000

Tohoqua Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2018

.800

05/01/48

1,023,212

975,000

(d) Tolomato Community Development District, Florida, Special

Assessment Bonds, Expansion Parcel Project, Series 2018

.000

05/01/48

960,239

4,795,000

(d) Tolomato Community Development District, Florida, Special

Assessment Bonds, Refunding Senior Lien Series 2018A-2

.625

05/01/40

4,900,658

880,000

Tolomato Community Development District, Florida, Special

Assessment Revenue Bonds, Seabrook Village Phases 2 and 3

Series 2024

.125

05/01/54

838,906

3,225,000

Toscana Isles Community Development District, Venice,

Florida, Special Assessment Revenue Bonds, Series 2014

.250

11/01/44

3,326,130

280,000

Towne Park Community Development District, Florida, Special

Assessment Bonds, Area 2B Project, Series 2018

.375

05/01/38

287,671

1,265,000

Towne Park Community Development District, Florida, Special

Assessment Bonds, Area 3A Project, Series 2018

.375

05/01/38

1,299,655

2,595,000

Towne Park Community Development District, Florida, Special

Assessment Bonds, Area 3A Project, Series 2018

.500

05/01/49

2,625,219

1,755,000

Towne Park Community Development District, Florida, Special

Assessment Bonds, Area 3C Project, Series 2019

.625

05/01/50

1,605,200

825,000

Trevesta Community Development District, Manatee County,

Florida, Special Assessment Revenue Bonds, 2016 Project,

Series 2016A-1

.375

11/01/36

855,651

705,000

(d) Trevesta Community Development District, Manatee County,

Florida, Special Assessment Revenue Bonds, Assessment Area

1 - Phase 2 Project, Series 2018

.250

11/01/39

728,274

750,000

Triple Creek Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Series 2012 - AGM

Insured

.750

11/01/43

817,516

1,095,000

Trout Creek Community Development District, Saint Johns

County, Florida, Capital Improvement Revenue Bonds, Series

2018

.375

05/01/38

1,112,558

3,345,000

Trout Creek Community Development District, Saint Johns

County, Florida, Capital Improvement Revenue Bonds, Series

2018

.500

05/01/49

3,365,711

1,400,000

TSR Community Development District, Pasco County, Florida,

Special Assessment Revenue Bonds, Northwest Assessment

Area Parcels A, B & C, Series 2018

.000

11/01/39

1,416,679

2,500,000

TSR Community Development District, Pasco County, Florida,

Special Assessment Revenue Bonds, Northwest Assessment

Area Parcels A, B & C, Series 2018

.125

11/01/49

2,473,874

275,000

TSR Community Development District, Pasco County, Florida,

Special Assessment Revenue Bonds, Village 1 Project, Series

2015

.000

11/01/36

275,107

555,000

TSR Community Development District, Pasco County, Florida,

Special Assessment Revenue Bonds, Village 1 Project, Series

2015

.125

11/01/45

554,995

2,435,000

TSR Community Development District, Pasco County, Florida,

Special Assessment Revenue Bonds, Village 4 Project, Series

2015A

.625

11/01/45

2,472,404

1,505,000

Tuckers Pointe Community Development District, Charlotte

County, Florida, Special Assessment Notes, Phase 1 Project,

Series 2022

.000

05/01/42

1,342,696

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

9,180,000

Twin Creeks North Community Development District,

Florida, Special Assessment Bonds, Master Infrastructure

Improvements, Series 2016A-1

.375

%

11/01/47

$

9,575,375

1,795,000

Twin Creeks North Community Development District,

Florida, Special Assessment Bonds, Master Infrastructure

Improvements, Series 2016A-2

.375

11/01/47

1,874,191

1,000,000

(d) Twisted Oaks Pointe Community Development District, Florida,

Special Assessment Revenue Bonds Assessment Area One

Project Series 2023

.625

05/01/53

1,009,560

1,000,000

(d) Twisted Oaks Pointe Community Development District, Florida,

Special Assessment Revenue Bonds Assessment Area Two

Project Series 2023

.125

05/01/54

1,028,363

610,000

Two Creeks Community Development District, Florida, Capital

Improvement Revenue Bonds, Refunding Subordinate Lien

Series 2016A-2

.750

05/01/37

610,775

1,000,000

Two Lakes Community Development District, Hialeah, Florida,

Special Assessment Bonds, Series 2024

.000

05/01/55

993,343

7,000,000

(d) Two Rivers East Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds, 2023

Project Series 2023

.875

05/01/53

7,100,644

1,540,000

(d) Two Rivers North Community Development District, Pasco

County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.125

05/01/42

1,545,356

5,000,000

(d) Two Rivers West Community Development District, Pasco

County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.250

05/01/53

5,195,650

1,500,000

(d) Two Rivers West Community Development District, Pasco

County, Florida, Special Assessment Bonds, 2024 Project,

Series 2024

.875

05/01/54

1,523,757

255,000

Union Park Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2016A-1

.375

11/01/37

259,014

1,975,000

(d) Union Park East Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 1

Series 2017A-1

.500

11/01/47

1,997,721

1,465,000

(d) Union Park East Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2

Series 2019A-1

.000

11/01/39

1,482,454

2,615,000

(d) Union Park East Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2

Series 2019A-1

.125

11/01/49

2,591,217

820,000

(d) Union Park East Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2

Series 2019A-2

.250

05/01/49

823,416

1,525,000

(d) Varrea South Community Development District, Plant

City, Florida, Capital Improvement Revenue Bonds, 2023

Assessment Area Series 2023

.400

05/01/53

1,541,133

2,345,000

(d) V-Dana Community Development District, Lee County, Florida,

Special Assessment Bonds, Area 2 - 2023 Project, Series 2023

.500

05/01/54

2,363,834

1,000,000

(d) V-Dana Community Development District, Lee County, Florida,

Special Assessment Bonds, Area 2 - 2025 Project, Series 2025

.550

05/01/55

988,623

1,055,000

Venetian Parc Community Development District, Miami-Dade

County, Florida, Special Assessment Bonds, Area One Project,

Series 2013

.500

11/01/43

1,112,186

505,000

Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area 5 Phase 2

Veranda Estates Project, Refunding Series 2024

.625

05/01/54

505,863

680,000

Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area One-Gardens

East Project, Series 2018A

.000

11/01/39

688,354

1,050,000

Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area One-Gardens

East Project, Series 2018A

.000

11/01/39

1,062,899

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,115,000

Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area One-Gardens

East Project, Series 2018A

.125

%

11/01/49

$

1,103,348

1,720,000

Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area One-Gardens

East Project, Series 2018A

.125

11/01/49

1,706,693

3,680,000

Verandah West Community Development District, Florida,

Capital Improvement Revenue Bonds, Refunding Series 2013

.000

05/01/33

3,682,810

1,640,000

Verano 2 Community Development District, Florida, Special

Assessment Revenue Bonds, District 2 Pod A Project, Series

2017

.750

11/01/38

1,643,206

2,405,000

Verano 2 Community Development District, Florida, Special

Assessment Revenue Bonds, District 2 Pod A Project, Series

2017

.000

11/01/48

2,351,304

1,295,000

Verano 2 Community Development District, Florida, Special

Assessment Revenue Bonds, District 2 Pod B Project, Series

2017

.750

11/01/38

1,297,532

1,970,000

Verano 2 Community Development District, Florida, Special

Assessment Revenue Bonds, District 2 Pod B Project, Series

2017

.000

11/01/48

1,926,016

895,000

Verano 2 Community Development District, Florida, Special

Assessment Revenue Bonds, District 2 Pod C Project, Series

2017

.000

11/01/38

902,911

1,410,000

Verano 2 Community Development District, Florida, Special

Assessment Revenue Bonds, District 2 Pod C Project, Series

2017

.125

11/01/48

1,402,122

1,140,000

Verano 3 Community Development District, Florida, Special

Assessment Bonds, Phase 2 Assessment Area, Series 2022

.450

11/01/42

1,203,025

1,500,000

Verano 3 Community Development District, Florida, Special

Assessment Bonds, Phase 2 Assessment Area, Series 2022

.625

11/01/52

1,582,251

1,195,000

(d) Verano 4 Community Development District, Florida, Special

Assessment Revenue Bonds, Arbor Creek Phase One

Assessment Area Series 2023

.625

05/01/53

1,222,045

2,875,000

(d) Villages of Glen Creek Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 4, Series 2022

.250

05/01/53

2,867,199

1,205,000

(d) Villamar Community Development District, Winter Haven,

Florida, Special Assessment Revenue Bonds, Area 5 Project,

Series 2023

.750

05/01/53

1,221,291

1,000,000

(d) Villamar Community Development District, Winter Haven,

Florida, Special Assessment Revenue Bonds, Area 6 Project,

Series 2024

.750

05/01/54

1,008,780

1,790,000

Villamar Community Development District, Winter Haven,

Florida, Special Assessment Revenue Bonds, Series 2019

.875

05/01/50

1,682,163

1,500,000

(d) Waterford Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 3, Series 2025

.000

05/01/45

1,542,684

805,000

Waterford Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area One, Series 2023

.600

05/01/53

823,488

1,925,000

(d) Waterset Central Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Series 2018

.125

11/01/38

1,951,540

4,000,000

(d) Waterset Central Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Series 2018

.250

11/01/49

4,007,556

1,405,000

Waterset North Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Series 2014

.250

05/01/39

1,416,250

1,335,000

(d) Wellness Ridge Community Development District, Lake

County, Florida, Special Assessment Revenue Bonds, Area One

Series 2023

.375

06/15/53

1,351,275

1,270,000

(d) West Hillcrest Community Development District, Pasco County,

Florida, Special Assessment Bonds, 2023 Project Series 2023

.500

06/15/53

1,292,233

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,400,000

West Port Community Developement District, Charlotte

County, Florida, Special Assessment Bonds, Assessment Area

1- 2021 Project, Series 2021

.000

%

05/01/51

$

1,973,868

710,000

(d) West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit of Development 7 Village B

Parcel, Series 2019

.000

05/01/50

686,887

3,950,000

West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit of Development 8 Master

Infrastructure, Series 2022

.500

05/01/53

3,979,381

2,495,000

(d) West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit of Development 9 Series

2023

.625

05/01/53

2,551,466

430,000

(d) Westside Community Development District, Osceola County,

Florida, Special Assessment Revenue Bonds, Solara Phase 1

Assessment Area, Series 2018

.000

05/01/38

435,834

575,000

(d) Westside Community Development District, Osceola County,

Florida, Special Assessment Revenue Bonds, Solara Phase 1

Assessment Area, Series 2018

.200

05/01/48

576,715

795,000

(d) Westside Haines City Community Development District, Polk

County, Florida, Special Assessment Bonds, Area 2 Project,

Series 2024

.000

05/01/54

806,183

750,000

(d) Westview North Community Development District, Miami-

Dade County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.750

06/15/42

779,554

1,500,000

(d) Westview North Community Development District, Miami-

Dade County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.000

06/15/52

1,556,862

2,570,000

(d) Westview South Community Development District, Osceola

and Polk Counties, Florida, Special Assessment Bonds,

Assessment Area 1 Project Series 2023

.600

05/01/53

2,590,626

995,000

Westview South Community Development District, Osceola

and Polk Counties, Florida, Special Assessment Bonds,

Assessment Area 2 Series 2023

.625

05/01/53

1,007,591

2,000,000

(d) Westview South Community Development District, Osceola

and Polk Counties, Florida, Special Assessment Revenue

Bonds, Assessment Area 1, Series 2025

.200

05/01/55

2,060,459

2,580,000

(d) Willow Hammock Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds, Series

2017

.000

11/01/47

2,431,695

1,225,000

(d) Willowbrook Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area One

Project Series 2024

.900

05/01/55

1,219,992

1,690,000

(d) Willowbrook Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area Two

Project Series 2025

.650

05/01/45

1,693,047

1,435,000

(d) Willowbrook Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area Two

Project Series 2025

.875

05/01/56

1,438,348

1,500,000

Willows Community Development District, Florida, Special

Assessment Bonds, Series 2019

.000

05/01/39

1,517,758

3,000,000

Willows Community Development District, Florida, Special

Assessment Bonds, Series 2019

.200

05/01/50

2,988,872

1,250,000

(d) Wind Meadows South Community Development District,

Bartow, Florida, Special Assessment Bonds, Assessment Area 2

Project, Series 2023

.625

05/01/53

1,266,593

1,870,000

Winding Cypress Community Development District, Collier

County, Florida, Special Assessment Bonds, Phase 1 & 2

Assessment Area, Series 2015

.000

11/01/45

1,860,831

990,000

Winding Cypress Community Development District, Collier

County, Florida, Special Assessment Bonds, Series 2019

.000

11/01/49

962,771

1,000,000

Woodcreek Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 1, Series 2022

.000

05/01/53

1,037,606

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

500,000

(d) Woodcreek Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 2, Series 2025

.500

%

05/01/55

$

479,623

2,000,000

(d) Woodland Crossing Community Development District, Sumter

County, Florida, Special Assessment Bonds, Series 2025

.125

05/01/56

2,034,909

850,000

(d) Woodland Preserve Community Development District,

Florida, Manatee County, Special Assessment Revenue Bonds,

Assessment Area One Series 2025

.500

05/01/55

835,443

510,000

Wynnmere East Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Series 2016

.125

05/01/36

518,750

925,000

Wynnmere East Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Series 2016

.500

05/01/46

933,025

2,000,000

(d) Yarbrough Lane Community Development District, Polk

County, Florida, Special Assessment Revenue Bonds, 2024

Project Series 2024

.600

05/01/55

1,949,413

1,485,000

(d) Zephyr Lakes Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Series 2019

.500

11/01/39

1,535,727

2,560,000

(d) Zephyr Lakes Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Series 2019

.625

11/01/49

2,608,928

TOTAL FLORIDA

1,943,469,717

GEORGIA - 2.9%

39,320,000

Atlanta Development Authority, Georgia, Economic

Development Certificates, Gulch Enterprise Zone Project,

Convertible Capital Appreciation Series 2024A-1 Class A

.500

12/15/48

34,538,220

10,300,000

(d) Atlanta Development Authority, Georgia, Revenue Bonds,

Westside Gulch Area Project, Senior Series 2024A-2

.500

04/01/39

10,465,053

500,000

(e) Atlanta Development Authority, Georgia, Senior Health Care

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.500

01/01/29

285,000

24,900,000

(e) Atlanta Development Authority, Georgia, Senior Health Care

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.750

01/01/35

14,193,000

33,710,000

(e) Atlanta Development Authority, Georgia, Senior Health Care

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.000

01/01/40

19,214,700

1,290,000

Atlanta Urban Residential Finance Authority, Georgia,

Multifamily Housing Revenue Bonds, Testletree Village

Apartments, Series 2013A

.000

11/01/48

988,628

8,810,000

(f) Atlanta, Georgia, Airport General Revenue Bonds, Series

2019B, (AMT), (UB)

.000

07/01/49

7,853,137

25,665,000

(f) Brookhaven Development Authority, Georgia, Revenue Bonds,

Children's Healthcare of Atlanta, Inc. Project, Series 2019A,

(UB)

.000

07/01/49

22,990,384

420,000

Burke County Development Authority, Georgia, Pollution

Control Revenue Bonds, Oglethorpe Power Corporation Vogtle

Project, Series 2017D

.125

11/01/45

378,247

5,510,000

(f) Classic Center Authority, Clarke County, Georgia, Revenue

Bonds, Classic Center Arena Project Series 2021

.000

05/01/61

3,692,328

5,515,000

(f) Cobb County Kennestone Hospital Authority, Georgia,

Revenue Anticipation Certificates, Wellstar Health System,

Series 2017A, (UB)

.000

04/01/47

5,537,298

3,945,000

Columbia County Hospital Authority, Georgia, Revenue

Anticipation Certificates, WellStar Health System, Inc. Project,

Series 2023A - AGM Insured

.000

04/01/53

4,014,706

3,500,000

(f) Columbia County Hospital Authority, Georgia, Revenue

Anticipation Certificates, WellStar Health System, Inc. Project,

Series 2023B, (UB)

.750

04/01/53

3,751,153

6,030,000

(f) Dalton Development Authority, Georgia, Revenue Certificates,

Hamilton Health Care System Inc., Series 2017, (UB)

.000

08/15/48

5,479,578

10,000,000

(f) Fulton County Development Authority, Georgia, Hospital

Revenue Bonds, Wellstar Health System, Inc Project, Series

2017A, (UB)

.000

04/01/47

10,040,431

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

GEORGIA

(continued)

$

7,785,000

(f) Fulton County Development Authority, Georgia, Hospital

Revenue Bonds, Wellstar Health System, Inc Project, Series

2017A, (UB)

.000

%

04/01/50

$

6,817,970

11,900,000

(f) Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4

Project M Bonds, Series 2019A - AGM Insured, (UB)

.000

01/01/59

10,535,633

25,395,000

(f) Georgia Municipal Electric Authority, Plant Vogtle Units 3 & 4

Project M Bonds, Series 2019A, (UB)

.000

01/01/63

25,336,439

1,840,000

(d) Macon-Bibb County Urban Development Authority, Georgia,

Revenue Bonds, Academy for Classical Education, Series 2017

.875

06/15/47

1,847,375

1,550,000

(d) Macon-Bibb County Urban Development Authority, Georgia,

Revenue Bonds, Academy for Classical Education, Series 2017

.000

06/15/52

1,556,581

34,665,000

(f) Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2019A, (UB)

.000

05/15/49

35,915,526

7,750,000

(d) Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022C, (Mandatory Put 11/01/27)

.000

08/01/52

7,798,778

10,000,000

(f) Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2024B, (Mandatory Put 3/01/32), (UB)

.000

12/01/54

10,894,568

5,765,000

(f) Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &

4 Project J Bonds, Series 2015A, (UB)

.000

07/01/60

5,752,024

11,600,000

(f) Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &

4 Project J Bonds, Series 2019A - BAM Insured, (UB)

.000

01/01/49

10,691,960

24,940,000

(f) Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &

4 Project J Bonds, Series 2019A - BAM Insured, (UB)

.000

01/01/49

24,996,080

28,170,000

(f) Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &

4 Project J Bonds, Series 2019A, (UB)

.000

01/01/59

28,107,623

11,200,000

(f) Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &

4 Project J Bonds, Series 2023A - AGM Insured, (UB)

.000

07/01/64

11,257,800

15,280,000

(f) Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &

4 Project M Bonds, Series 2022A, (UB)

.500

07/01/63

14,577,288

11,650,000

(f) Municipal Electric Authority of Georgia, Project One Revenue

Bonds, Subordinate Lien Series 2019A - BAM Insured, (UB)

.000

01/01/49

10,738,046

2,000,000

Municipal Electric Authority of Georgia, Project One Revenue

Bonds, Subordinate Lien Series 2020A

.000

01/01/59

1,970,096

2,000,000

Savannah-Georgia Convention Center Authority, Convention

Center Hotel First Tier Revenue Bonds, Series 2025A

.125

06/01/50

1,993,138

1,250,000

Savannah-Georgia Convention Center Authority, Convention

Center Hotel First Tier Revenue Bonds, Series 2025A

.250

06/01/61

1,245,251

9,855,000

(d) Savannah-Georgia Convention Center Authority, Convention

Center Hotel Second Tier Revenue Bonds, Series 2025B

.250

06/01/61

9,872,870

15,220,000

(f) Walton Industrial Building Authority, Georgia, Revenue Bonds,

Walton County Jail Facility Project, Series 2021, (UB)

.000

02/01/52

14,025,300

3,330,000

White County Development Authority, Georgia, Revenue

Bonds Truett McConnell University, Series 2019

.250

10/01/49

2,700,419

TOTAL GEORGIA

382,052,628

HAWAII - 0.5%

3,530,000

(d) Hawaii County, Hawaii, Special Tax Revenue Bonds, Community

Facilities District 1-2021, Kaloko Heights Project, Series 2023

.250

05/15/52

3,550,507

1,565,000

(d) Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Chaminade University of Honolulu, Series

2015A

.000

01/01/45

1,309,015

2,000,000

(d) Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaii Pacific University Project, Refunding

Series 2024

.000

07/01/39

1,923,701

2,965,000

(d) Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaii Pacific University Project, Refunding

Series 2024

.125

07/01/43

2,744,319

16,795,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Refunding Series 2017B, (AMT)

.000

03/01/37

16,274,976

8,125,000

Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaiian Electric Company, Inc. and

Subsidiary Projects, Refunding Series 2019

.200

07/01/39

7,053,650

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HAWAII

(continued)

$

15,000,000

(f) Hawaii State, Airport System Revenue Bonds, Series 2025A,

(AMT), (UB)

.250

%

07/01/51

$

15,721,308

10,000,000

(f) Hawaii State, Airport System Revenue Bonds, Series 2025B,

(AMT), (UB)

.500

07/01/54

10,665,113

TOTAL HAWAII

59,242,589

IDAHO - 0.3%

5,023,000

(d) Eagle Avimor Community Infrastructure District 1, Ada, Boise,

and Gem Counties, Idaho, Special Assessment Revenue Bonds,

Assessment Area 5 Series 2024

.875

09/01/53

5,123,126

1,500,000

(d) Eagle Avimor Community Infrastructure District 1, Ada, Boise,

and Gem Counties, Idaho, Special Assessment Revenue Bonds,

Assessment Area 6 Series 2024B

.500

09/01/53

1,501,270

2,969,000

Harris Ranch Community Infrastructure District 1, Boise, Idaho,

Special Assessment Bonds, Assessment Area One, Series 2011

.000

09/01/40

2,976,818

4,000,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2025A

.375

03/01/53

3,672,272

955,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Compass Public Charter School, Inc. Project,

Series 2018A

.000

07/01/49

959,386

715,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Doral Academy of Idaho, Taxable Series

2021B

.750

07/15/31

677,034

680,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Gem Prep Meridian North LLC, Series 2020A

.500

07/01/30

666,314

2,270,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Gem Prep Meridian North LLC, Series 2020A

.000

07/01/40

2,011,364

6,040,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Gem Prep Meridian North LLC, Series 2020A

.250

07/01/55

4,962,247

275,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Gem Prep Meridian North LLC, Series 2020B

.250

07/01/27

272,296

955,000

Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Xavier Charter School, Inc. Project, Series

2015A

.000

06/01/35

955,439

2,380,000

Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Xavier Charter School, Inc. Project, Series

2015A

.000

06/01/44

2,279,726

10,100,000

(d) Spring Valley Community Infrastructure District 1, Eagle, Idaho,

Special Assessment Bonds, Assessment Area Two, Series 2025

.250

09/01/54

10,306,192

1,720,000

(d) Spring Valley Community Infrastructure District 1, Eagle, Idaho,

Special Assessment Bonds, Series 2021

.750

09/01/51

1,614,249

2,570,000

Spring Valley Community Infrastructure District 1, Eagle, Idaho,

Special Assessment Bonds, Series 2024

.250

09/01/53

2,615,664

TOTAL IDAHO

40,593,397

ILLINOIS - 6.6%

4,845,000

Belleville, Illinois, Tax Increment Revenue Bonds, Frank Scott

Parkway Redevelopment Project, Series 2007A

.700

05/01/36

4,845,452

234,918

(e) Bolingbrook, Illinois, Sales Tax Revenue Bonds, Series 2005

.250

01/01/26

234,918

4,000,000

Bolingbrook, Illinois, Special Tax Bonds, Special Service Area 1,

Refunding Series 2019

.250

03/01/41

4,017,546

106,670,000

(f) Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2016, (UB)

.000

04/01/46

108,084,593

7,500,000

(f) Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2018, (UB)

.000

04/01/46

7,238,281

5,550,000

(f) Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023, (UB)

.000

04/01/45

5,473,933

11,825,000

(f) Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023, (UB)

.750

04/01/48

12,305,589

1,245,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2017C

.000

12/01/34

1,253,251

8,750,000

(f) Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2017, (UB)

.000

12/01/46

8,774,408

8,445,000

(f) Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2020A - BAM Insured, (UB)

.000

12/01/50

7,729,192

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

6,905,000

(f) Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2020A - BAM Insured, (UB)

.000

%

12/01/55

$

6,185,710

6,500,000

(f) Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2020A, (UB)

.000

12/01/55

6,540,028

21,000,000

(f) Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2022A - BAM Insured, (UB)

.000

12/01/46

21,783,170

2,375,000

(f) Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2022A, (UB)

.000

12/01/52

2,404,714

6,195,000

(f) Chicago Transit Authority, Illinois, Sales Tax Receipts Revenue

Bonds, Second Lien Series 2022A, (UB)

.000

12/01/57

6,252,393

464,516

Chicago, Illinois, Certificates of Participation Tax Increment

Bonds, 35th and State Redevelopoment Project, Series 2012

.100

01/15/29

464,545

3,206,077

(e) Chicago, Illinois, Certificates of Participation, Tax Increment

Allocation Revenue Bonds, Diversey-Narragansett Project,

Series 2006

.460

02/15/26

2,244,254

3,159,571

Chicago, Illinois, Certificates of Participation, Tax Increment

Allocation Revenue Bonds, Pullman Park/Chicago

Redevelopement Project, Series 2013A

.125

03/15/33

3,160,528

4,000,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Refunding Senior Lien Series 2018A

.000

01/01/39

4,083,179

7,000,000

(f) Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Refunding Senior Lien Series 2018A, (UB)

.000

01/01/43

6,428,336

23,750,000

(f) Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Refunding Senior Lien Series 2018A, (UB)

.000

01/01/48

23,787,473

9,000,000

(f) Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Refunding Senior Lien Series 2018A, (UB)

.375

01/01/53

8,201,053

5,000,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2016D

.000

01/01/52

4,969,154

5,000,000

(f) Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2016D, (UB)

.000

01/01/52

4,969,155

10,000,000

(f) Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2022A, (UB)

.500

01/01/48

9,559,874

18,800,000

(f) Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2022A, (UB)

.625

01/01/53

18,017,743

12,990,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2022A

.250

01/01/53

13,195,455

24,000,000

(f) Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2022A, (UB)

.250

01/01/53

24,379,594

13,475,000

(f) Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2022A, (UB)

.000

01/01/55

13,446,669

10,500,000

(f) Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2024A, (UB)

.500

01/01/53

11,073,367

6,000,000

(f) Chicago, Illinois, General Obligation Bonds, Chicago Works

Series 2023A, (UB)

.500

01/01/43

6,019,156

5,000,000

(f) Chicago, Illinois, General Obligation Bonds, Project &

Refunding Series 2017A, (UB)

.625

01/01/30

5,122,481

87,600,000

(f) Chicago, Illinois, General Obligation Bonds, Project &

Refunding Series 2017A, (UB)

.000

01/01/38

89,314,928

3,365,000

(f) Chicago, Illinois, General Obligation Bonds, Refunding Series

2016C, (UB)

.000

01/01/35

3,369,232

1,795,000

(f) Chicago, Illinois, General Obligation Bonds, Series 2019A, (UB)

.000

01/01/44

1,692,943

8,650,000

(f) Chicago, Illinois, Wastewater Transmission Revenue Bonds,

Second Lien Project, Series 2023A - AGM Insured, (UB)

.250

01/01/58

8,964,901

5,000,000

Chicago, Illinois, Wastewater Transmission Revenue Bonds,

Second Lien Project, Series 2023A - AGM Insured

.500

01/01/62

5,239,294

8,855,000

(f) Elmhurst Park District, DuPage and Cook Counties, Illinois,

General Obligation Bonds, Series 2025, (UB)

.250

12/15/49

8,526,332

10,635,000

(d) Illinois Finance Authority Revenue Bonds, Ness Healthcare NFP,

Series 2016A

.250

11/01/36

9,508,042

13,325,000

(d) Illinois Finance Authority Revenue Bonds, Ness Healthcare NFP,

Series 2016A

.375

11/01/46

10,769,221

46,000,000

(f) Illinois Finance Authority Revenue Bonds, OSF Healthcare

System, Refunding Series 2018A, (UB)

.125

05/15/47

42,254,151

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

4,055,000

(d) Illinois Finance Authority, Charter School Revenue Bonds, Art in

Motion AIM Project, Series 2021A

.000

%

07/01/51

$

2,858,198

4,420,000

(d) Illinois Finance Authority, Charter School Revenue Bonds, Art in

Motion AIM Project, Series 2021A

.000

07/01/56

3,027,806

845,000

(d) Illinois Finance Authority, Charter School Revenue Bonds,

Intrinsic Charter Schools Belmont School Project, Series 2015A

.750

12/01/35

846,014

4,475,000

(d) Illinois Finance Authority, Charter School Revenue Bonds,

Intrinsic Charter Schools Belmont School Project, Series 2015A

.000

12/01/45

4,476,275

2,500,000

Illinois Finance Authority, Revenue Bonds, Admiral at the Lake

Project, Refunding Series 2017

.250

05/15/42

2,040,657

1,800,000

Illinois Finance Authority, Revenue Bonds, Admiral at the Lake

Project, Refunding Series 2017

.250

05/15/54

1,333,929

7,150,000

Illinois Finance Authority, Revenue Bonds, Admiral at the Lake

Project, Refunding Series 2017

.500

05/15/54

5,515,870

17,295,000

(f) Illinois Finance Authority, Revenue Bonds, Advocate Health

Care Network, Refunding Series 2015, (UB)

.125

05/01/45

15,938,935

5,190,000

Illinois Finance Authority, Revenue Bonds, Central Baptist

Village, Series 2007

.375

11/15/39

5,017,662

2,000,000

(d) Illinois Finance Authority, Revenue Bonds, DePaul College Prep

Foundation, Series 2023A

.625

08/01/53

2,037,072

1,300,000

Illinois Finance Authority, Revenue Bonds, Dominican

University, Refunding Series 2022

.000

03/01/47

1,194,495

1,200,000

Illinois Finance Authority, Revenue Bonds, Dominican

University, Refunding Series 2022

.000

03/01/52

1,070,662

5,300,000

(d) Illinois Finance Authority, Revenue Bonds, Illinois Institute of

Technology, Series 2025A

.875

09/01/46

5,264,089

6,000,000

(f) Illinois Finance Authority, Revenue Bonds, OSF Healthcare

System, Series 2020A, (UB)

.000

05/15/50

5,093,842

3,735,000

(d) Illinois Finance Authority, Revenue Bonds, Roosevelt University,

Refunding Series 2020A

.000

04/01/50

3,135,320

2,700,000

(d) Illinois Finance Authority, Revenue Bonds, Roosevelt University,

Series 2018A

.125

04/01/58

2,604,931

19,780,000

(d) Illinois Finance Authority, Revenue Bonds, Roosevelt University,

Series 2019A

.125

04/01/49

19,201,686

20,475,000

(d) Illinois Finance Authority, Revenue Bonds, Roosevelt University,

Series 2019A

.125

04/01/58

19,754,059

6,500,000

Illinois Finance Authority, Revenue Bonds, Rush University

Medical Center Obligated Group, Series 2015A

.000

11/15/39

6,164,294

10,000,000

(f) Illinois Finance Authority, Revenue Bonds, The University of

Chicago Medical Center, Series 2016B, (UB)

.000

08/15/41

9,374,350

5,000,000

(f) Illinois Finance Authority, Revenue Bonds, University of

Chicago Medicine, Series 2022A, (UB)

.000

08/15/52

5,062,952

4,000,000

(d) Illinois Finance Authority, Solid Waste Revenue Bonds, LRS

Holdings LLC Project, Series 2023B, (Mandatory Put 9/01/33)

.375

09/01/42

4,440,696

5,600,000

Illinois Housing Development Authority, Revenue Bonds, Social

Series 2024C

.850

04/01/49

5,664,097

1,300,000

Illinois State, General Obligation Bonds, January Series 2016

.000

01/01/41

1,300,817

14,600,000

(f) Illinois State, General Obligation Bonds, June Series 2022A

.500

03/01/42

15,552,355

10,285,000

Illinois State, General Obligation Bonds, May Series 2020

.750

05/01/45

10,786,904

14,250,000

Illinois State, General Obligation Bonds, October Series 2022C

.500

10/01/39

15,492,124

950,000

(d) Lincolnwood, Cook County, Illinois, Tax Increment Revenue

Bonds, District 1860 Development Project, Series 2025B

.750

12/01/43

956,422

1,155,000

Matteson, Illinois, Tax Increment Revenue Bonds, Limited

Obligation Series 2015

.500

12/01/35

1,181,150

2,000,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Refunding Series 2020A

.000

06/15/50

1,974,876

10,000,000

(f) Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Refunding Series 2020A - BAM

Insured, (UB)

.000

06/15/50

10,063,525

8,715,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2012B - AGM Insured

.000

12/15/41

4,195,904

7,360,000

(f) Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2015A, (UB)

.000

06/15/53

7,215,661

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

5,000,000

(f) Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2015A, (UB)

.500

%

06/15/53

$

5,002,888

10,000,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017A - AGM Insured

.000

12/15/56

2,119,888

13,000,000

(f) Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017A, (UB)

.000

06/15/57

12,689,388

5,000,000

(g) Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/47

3,628,027

19,140,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B

.000

12/15/54

4,393,405

6,980,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2017B - BAM Insured

.000

12/15/54

1,648,489

6,270,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Capital

Appreciation Refunding Series 2010B-1 - AGM Insured

.000

06/15/44

2,558,742

53,700,000

(f) Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Capital

Appreciation Refunding Series 2010B-1 - AGM Insured, (UB)

.000

06/15/44

21,914,589

17,150,000

(f) Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

NPFG Insured

.000

12/15/37

10,254,213

6,000,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

AGM Insured

.000

12/15/40

3,068,623

155,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

NPFG Insured

.000

06/15/41

73,907

2,036,893

(d) North Pullman Chicago Neighborhood Initiatives, Inc., Illinois,

Certificates of Participation, Gotham Greens Greenhouse

Facility, Redevelopment Project, Series 2018A

.000

03/15/34

2,039,226

3,390,000

Palos Heights, Illinois, Revenue Bonds, Trinity Christian College

Association, Series 2024A

.000

01/01/50

2,955,569

7,400,000

(f) Sales Tax Securitization Corporation, Illinois, Sales Tax

Securitzation Bonds, Series 2018A - BAM Insured, (UB)

.000

01/01/48

6,666,495

24,280,000

(f) Sales Tax Securitization Corporation, Illinois, Sales Tax

Securitzation Bonds, Series 2018A, (UB)

.000

01/01/48

24,393,827

10,800,000

Southwestern Illinois Development Authority, Environmental

Improvement Revenue Bonds, US Steel Corporation Project,

Series 2012, (AMT)

.750

08/01/42

10,803,009

3,370,000

Upper Illinois River Valley Development Authority, Education

Facilities Revenue Bonds, Elgin Math & Science Academy

Charter School, Series 2023A

.875

03/01/58

3,294,263

1,187,000

Volo Village, Illinois, Special Tax Bonds, Special Service Area

17, Series 2017

.500

03/01/47

1,186,947

898,000

Waukegan, Illinois, Special Assessment Improvement Bonds,

Fountain Square, Series 2005

.125

03/01/30

898,919

3,695,000

(e) Yorkville United City Business District, Illinois, Storm Water and

Water Improvement Project Revenue Bonds, Series 2007

.800

01/01/26

1,293,250

1,745,572

(e) Yorkville United City, Kendall County, Illinois, Sales Tax Revenue

Bonds, Kendall Marketplace Project, Series 2007

.000

01/01/26

1,745,572

1,870,000

Yorkville, Illinois, Special Tax Bonds, Special Service Area 2003-

100 Raintree Village Project, Series 2013

.000

03/01/33

1,870,100

3,170,000

Yorkville, Illinois, Special Tax Bonds, Special Service Area 2006-

113 Cannoball & Beecher, Series 2007

.750

03/01/28

3,170,997

TOTAL ILLINOIS

869,392,200

INDIANA - 1.1%

2,500,000

(d) Anderson, Indiana, Multifamily Housing Revenue Bonds, Sweet

Galilee at the Wigwam Project, Series 2020A

.375

01/01/40

2,207,894

7,045,000

(d) Fort Wayne, Indiana Multifamily Housing Revenue Bonds, Silver

Birch at Cook Road Project, Series 2018

.625

01/01/38

6,748,504

445,000

Fort Wayne, Indiana Multifamily Housing Revenue Bonds, Silver

Birch of Fort Wayne Project, Series 2017

.125

01/01/32

431,106

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

INDIANA

(continued)

$

4,465,000

Fort Wayne, Indiana Multifamily Housing Revenue Bonds, Silver

Birch of Fort Wayne Project, Series 2017

.350

%

01/01/38

$

4,136,020

4,500,000

(d) Gary Local Public Improvement Bond Bank, Indiana, Economic

Development Revenue Bonds, Drexel Foundation for

Educational Excellence Project, Refunding Series 2020A

.875

06/01/55

3,987,198

1,595,000

(d),(f)

Indiana Bond Bank, Special Program Bonds, Hendricks

Regional Health Project, Tender Option Bond Trust 2016-

XL0019 - AMBAC Insured, (IF)

.992

04/01/30

2,182,436

3,425,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, 21st Century Charter School Project, Series 2013A

.000

03/01/33

3,426,295

7,355,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, 21st Century Charter School Project, Series 2013A

.250

03/01/43

7,105,988

3,050,000

(d) Indiana Finance Authority, Educational Facilities Revenue

Bonds, Circle City Preparatory Inc. Project, Series 2021A

.000

12/01/55

2,484,622

180,000

(d) Indiana Finance Authority, Educational Facilities Revenue

Bonds, Circle City Preparatory Inc. Project, Taxable Series

2021B

.000

12/01/27

176,904

4,370,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, Discovery Charter School Project, Series 2015A

.250

12/01/45

4,377,871

4,860,000

(d) Indiana Finance Authority, Educational Facilities Revenue

Bonds, Rock Creek Community Academy Project, Series 2018A

.125

07/01/48

4,724,296

7,350,000

(d) Indiana Finance Authority, Educational Facilities Revenue

Bonds, Victory College Prep Project, Series 2021A

.500

12/01/55

5,700,242

21,460,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, United States Steel Corporation Project, Series

2012, (AMT)

.750

08/01/42

21,465,803

10,400,000

(f) Indiana Finance Authority, Hospital Revenue Bonds, Indiana

Unversity Health Obligation Group, Fixed Rate Series 2019A,

(UB)

.000

12/01/49

9,296,262

26,975,000

(f) Indiana Finance Authority, Indiana, Health Facilities Project

Revenue Bonds, Baptist Healthcare System Obligated Group,

Series 2017A, (UB)

.000

08/15/51

27,121,547

4,500,000

Indiana Finance Authority, Indiana, Health Facilities Project

Revenue Bonds, Margaret Mary Health Project, Series 2024A

.750

03/01/54

4,696,971

1,730,000

Indiana Finance Authority, Student Housing Revenue Bonds,

SFP-PUFW I, LLC Subordinate Series 2024C

.750

07/01/64

1,620,036

2,610,000

(f) Indiana Housing and Community Development Authority,

Single Family Mortgage Revenue Bonds, Social Series 2024A-

1, (UB)

.650

07/01/49

2,590,311

1,545,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Community Justice Campus Bonds, Courthouse & Jail Project,

Series 2019A

.840

02/01/54

1,399,437

3,700,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.000

03/01/53

3,839,346

2,400,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.125

03/01/57

2,506,055

4,000,000

Merrillville, Indiana, Economic Development Revenue Bonds,

Belvedere Housing Project, Series 2016

.750

04/01/36

3,928,838

5,015,000

Plainfield, Indiana, Multifamily Housing Revenue Bonds,

Glasswater Creek of Plainfield Project, Series 2018

.375

09/01/38

4,957,322

1,500,000

Saint Joseph County, Indiana, Economic Development

Revenue Bonds, Chicago Trail Village Apartments, Series

2005A

.500

07/01/35

1,506,898

330,000

Terre Haute, Indiana, Multifamily Housing Revenue Bonds,

Silver Birch of Terre Haute Project, Series 2017

.100

01/01/32

324,016

6,840,000

Terre Haute, Indiana, Multifamily Housing Revenue Bonds,

Silver Birch of Terre Haute Project, Series 2017

.350

01/01/38

6,585,452

3,100,000

(d) Valparaiso, Indiana, Exempt Facilities Revenue Bonds, Pratt

Paper LLC Project, Refunding Series 2024, (AMT)

.000

01/01/54

3,010,506

1,000,000

(d) Valparaiso, Indiana, Revenue Bonds, Valparaiso University

Project, Series 2025A

.250

10/01/50

1,004,467

1,500,000

(d) Whiteland Economic Development, Indiana, Revenue Bonds,

Patch Whitehead Project Phase II, Series 2024A

.125

03/01/49

1,494,455

TOTAL INDIANA

145,037,098

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

IOWA - 0.6%

$

1,000,000

Iowa Finance Authority Senior Living Facilities Revenue Bonds,

Sunrise Retirement Community Project, Refunding Series 2021

.000

%

09/01/51

$

736,864

29,975,000

Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Alcoa Inc. Project, Series 2012

.750

08/01/42

29,680,457

13,505,000

(f),(h)

Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

Series 2022, (Pre-refunded 12/01/32)

.000

12/01/50

15,557,683

10,500,000

(f),(h)

Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Iowa Fertilizer Company Project, Refunding

Series 2022, (Pre-refunded 12/01/32), (Mandatory Put

12/01/42)

.000

12/01/50

12,095,940

16,000,000

(f) Iowa Finance Authority, Single Family Mortgage Revenue

Bonds, Social Series 2023E, (UB)

.950

07/01/53

16,209,242

1,150,000

Iowa Higher Education Loan Authority, Private College Facility

Revenue Bonds, University of Dubuque Project, Series 2025

.000

10/01/55

1,202,484

TOTAL IOWA

75,482,670

KANSAS - 0.3%

1,000,000

(d) Garden City, Kansas, Sales Tax Special Obligation Revenue

Bonds, Sports of the World Star Bond Project Phase II, Series

2025

.375

06/01/39

1,001,103

4,205,000

(f) Kansas State Development Finance Authority, Facilities

Revenue Bonds, K-State Athletics Incorporated Project Series

2023C, (UB)

.250

07/01/42

4,082,463

2,395,109

(e) Olathe, Kansas, Tax Increment Revenue Bonds, Gateway Area 1

Special Obligation Series 2006

.000

03/01/26

694,582

501,069

(e) Olathe, Kansas, Tax Increment Revenue Bonds, Gateway Area 1

Special Obligation Series 2006

.000

03/01/28

145,310

1,915,310

(e) Olathe, Kansas, Transportation Development District Sales Tax

Revenue Bonds, Gateway Project Area lA, Series 2006

.000

12/01/28

255,311

2,300,000

Overland Park, Kansas, Sales Tax Revenue Bonds, Prairiefire

Community Improvement District No. 1 Project, Series 2012B

.100

12/15/34

517,500

3,148,247

(e) Overland Park, Kansas, Sales Tax Special Obligation Revenue

Bonds, Prairiefire at Lionsgate Project, Series 2012

.375

01/01/26

2,927,870

5,000,000

(e) Overland Park, Kansas, Sales Tax Special Obligation Revenue

Bonds, Prairiefire at Lionsgate Project, Series 2012

.250

12/15/29

2,500,000

10,955,000

(e) Overland Park, Kansas, Sales Tax Special Obligation Revenue

Bonds, Prairiefire at Lionsgate Project, Series 2012

.000

12/15/32

3,176,950

10,755,000

(f) University of Kansas Hospital Authority, Health Facilities

Revenue Bonds, University of Kansas Health System, Series

2019A, (UB)

.000

09/01/48

10,888,431

1,250,000

Wichita, Kansas, Health Care Facilities Revenue Bonds,

Presbyterian Manors, Series 2024VIII

.750

05/15/45

1,196,462

3,000,000

Wichita, Kansas, Health Care Facilities Revenue Bonds,

Presbyterian Manors, Series 2024VIII

.875

05/15/50

2,806,570

1,000,000

Wichita, Kansas, Health Care Facilities Revenue Bonds,

Presbyterian Manors, Series 2024VIII

.000

05/15/54

941,575

1,000,000

Wyandotte County-Kansas City Unified Government, Kansas,

Sales Tax Special Obligation Bonds, Vacation Village Project

Area 1 and 2A, Series 2015

.750

09/01/32

956,878

10,845,000

Wyandotte County-Kansas City Unified Government, Kansas,

Sales Tax Special Obligation Bonds, Vacation Village Project

Area 1 and 2A, Series 2015

.000

09/01/35

10,263,319

TOTAL KANSAS

42,354,324

KENTUCKY - 0.4%

2,805,000

Bell County, Kentucky, Special Assessment Industrial Building

Revenue Bonds, Boone's Ridge Project, Series 2020

.000

12/01/40

2,814,015

4,580,000

Campbellsville, Kentucky, Industrial Building Revenue Bonds,

Campbellsville University Project, Series 2017

.000

03/01/39

4,365,692

3,535,000

Fort Thomas, Kentucky, Special Obligation Revenue Bonds,

Onr Highland Project Series 2020B

.500

09/01/50

3,236,686

945,000

Kentucky Economic Development Finance Authority,

Kentucky, Healthcare Facilities Revenue Bonds, Christian Care

Communities, Inc. Obligated Group, Series 2021

.000

07/01/50

773,425

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

KENTUCKY

(continued)

$

2,500,000

Kentucky Economic Development Finance Authority, Kentucky,

Healthcare Facilities Revenue Bonds, Rosedale Green Project,

Refunding Series 2015

.750

%

11/15/45

$

2,069,022

3,000,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, CommonSpirit Health, Series 2019A-1

.000

08/01/44

3,027,493

2,000,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, Next Generation Kentucky Information Highway Project,

Senior Series 2015A

.000

01/01/45

2,000,255

10,750,000

Louisville and Jefferson County Metropolitan Government,

Kentucky, Hospital Revenue Bonds, UofL Health Project, Series

2022A

.000

05/15/52

10,597,145

4,940,000

Newport, Kentucky, Special Obligation Revenue Bonds,

Newport Clifton Project, Series 2020B

.500

12/01/60

4,088,795

7,500,000

(f) Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2024A-1, (Mandatory Put 2/01/32),

(UB)

.250

04/01/54

8,222,836

5,745,000

(d) Union Kentucky, Special Obligation Revenue Bonds, Union

Promenade Project, Series 2022B

.500

12/01/52

5,294,163

1,400,000

(d) Union, Kentucky, Special Obligation Revenue Bonds, Union

Promenade Project, Series 2022D

.750

12/01/52

1,292,813

TOTAL KENTUCKY

47,782,340

LOUISIANA - 0.9%

4,350,000

(d) Jefferson Parish Economic Development and Port District,

Louisiana, Kenner Discovery Health Sciences Academy Project,

Series 2018A

.625

06/15/48

4,176,428

775,000

(d) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Cameron Parish GOMESA Project, Green Series 2018

.650

11/01/37

806,878

1,330,000

(d) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Terrebonne Parish GOMESA Project, Series 2018

.375

11/01/38

1,364,799

860,000

(d) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Terrebonne Parish GOMESA Project, Series 2018

.500

11/01/39

883,843

10,000,000

(d) Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Westside

Habilitation Center Project, Refunding Series 2017A

.250

02/01/47

9,125,512

4,570,000

(d) Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Lincoln Preparatory School Project, Series 2021A

.250

06/01/51

3,509,954

1,405,000

(d) Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Mentorship STEAM Academy, Series 2021A

.000

06/01/51

1,132,494

500,000

(d) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Jefferson Rise Charter School Project, Series 2022A

.250

06/01/52

493,667

1,460,000

(d) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Jefferson Rise Charter School Project, Series 2022A

.375

06/01/62

1,443,852

1,585,000

(d) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Lincoln Preparatory School Project, Series 2022A

.375

06/01/52

1,419,024

1,530,000

(d) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Lincoln Preparatory School Project, Series 2022A

.500

06/01/62

1,370,109

5,000,000

(f) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2025A,

(UB)

.250

05/15/55

5,193,646

1,935,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2025A

.500

05/15/55

2,046,963

6,000,000

(f) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Ochsner Clinic Foundation Project, Refunding Series 2025A,

(UB)

.500

05/15/55

6,347,172

5,000,000

(d),(e)

Louisiana Public Facilities Authority, Solid Waste Disposal

Facility Revenue Bonds, Lousiana Pellets Inc Project, Series

2015, (AMT)

.000

07/01/26

1,030,000

(d) Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, Geo Academies EBR - GEO Prep Mid-City Project,

Series 2022

.125

06/01/52

1,034,128

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA

(continued)

$

1,425,000

(d) Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, Geo Academies EBR - GEO Prep Mid-City Project,

Series 2022

.250

%

06/01/62

$

1,431,361

16,250,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.500

09/01/54

16,474,265

11,335,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.500

09/01/59

11,443,139

14,995,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.750

09/01/64

15,400,973

15,995,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.000

09/01/66

15,212,590

5,000,000

(f) New Orleans Aviation Board, Louisiana, General Airport

Revenue Bonds, Refunding Series 2024B, (AMT), (UB)

.250

01/01/43

5,274,916

5,800,000

(d) Plaquemines Port, Louisiana, Harbor and Terminal District

Facilities Revenue Bonds NOLA Terminal LLC Project Dock and

Wharf Series 2024A

.000

12/01/44

4,978,337

8,220,000

(d) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2010

.350

07/01/40

8,929,407

TOTAL LOUISIANA

119,493,507

MAINE - 0.2%

11,310,000

Maine Health and Higher Educational Facilities Authority

Revenue Bonds, Eastern Maine Medical Center Obligated

Group Issue, Series 2016A

.000

07/01/41

10,693,647

2,000,000

Maine Health and Higher Educational Facilities Authority

Revenue Bonds, Eastern Maine Medical Center Obligated

Group Issue, Series 2016A

.000

07/01/46

1,575,638

15,040,000

Maine Health and Higher Educational Facilities Authority

Revenue Bonds, Eastern Maine Medical Center Obligated

Group Issue, Series 2016A

.000

07/01/46

13,858,309

3,950,000

Rumford, Maine, Solid Waste Disposal Revenue Bonds, Boise

Cascade Corporation Project, Series 2001, (AMT)

.875

10/01/26

3,958,829

TOTAL MAINE

30,086,423

MARYLAND - 0.9%

6,760,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/46

6,536,143

1,500,000

Baltimore, Maryland, Special Obligation Bonds, Center/West

Development Project, Series 2017A

.500

06/01/43

1,432,489

1,925,000

(d) Frederick County, Maryland, Special Obligation Bonds, Urbana

Community Development Authority, Refunding Series 2020C

.000

07/01/50

1,667,621

2,550,000

(e) Maryland Economic Development Corporation, Revenue

Bonds, Chesapeake Bay Hyatt Conference Center, Series

2006A

.000

12/01/25

1,708,500

90,070,000

(e) Maryland Economic Development Corporation, Revenue

Bonds, Chesapeake Bay Hyatt Conference Center, Series

2006A

.000

12/01/31

60,346,900

400,000

(e) Maryland Economic Development Corporation, Revenue

Bonds, Chesapeake Bay Hyatt Conference Center, Series

2006B

.000

12/01/26

268,000

4,500,000

(e) Maryland Economic Development Corporation, Revenue

Bonds, Chesapeake Bay Hyatt Conference Center, Series

2006B

.250

12/01/31

3,015,000

3,250,000

Maryland Economic Development Corporation, Special

Obligation Bonds, Port Covington Project, Series 2020

.000

09/01/50

2,701,895

1,000,000

(d) Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Green Street Academy, Series 2017A

.125

07/01/37

986,988

1,800,000

(d) Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Green Street Academy, Series 2017A

.250

07/01/47

1,682,484

1,530,000

(d) Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Green Street Academy, Series 2017A

.375

07/01/52

1,414,867

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MARYLAND

(continued)

$

22,465,000

(f) Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, LifeBridge Health System, Series 2015, (UB)

.000

%

07/01/47

$

22,467,363

12,795,000

(f) Montgomery County, Maryland, Revenue Bonds, Trinity Health

Credit Group, Series 2015, (UB)

.000

12/01/44

11,833,469

5,000,000

(d) Prince George's County, Maryland, Special Obligation Bonds,

Westphalia Town Center Project, Series 2018

.250

07/01/48

5,006,184

2,250,000

Rockville Mayor and Council, Maryland, Economic

Development Revenue Bonds, Series 2017B

.000

11/01/47

2,029,826

TOTAL MARYLAND

123,097,729

MASSACHUSETTS - 0.9%

10,000,000

(f) Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Subordinated Series 2021A-1, (UB)

.000

07/01/51

9,240,797

4,000,000

(d) Massachusetts Development Finance Agency, Massachusetts,

Senior Living Revenue Bonds, Care Communities, LLC Issue,

Series 2025A-1

.500

07/15/60

4,021,548

1,000,000

(d) Massachusetts Development Finance Agency, Revenue Bonds,

CHF Merrimack, Inc. Merrimack College Student Housing

Project, Series 2024A

.000

07/01/54

940,390

14,360,000

Massachusetts Development Finance Agency, Revenue Bonds,

The Lowell General Hospital, Series 2013G

.000

07/01/44

13,558,591

13,440,000

(f) Massachusetts Educational Financing Authority, Education

Loan Revenue Bonds, Issue K, Series 2017B, (AMT), (UB)

.250

07/01/46

11,960,200

2,960,000

(f) Massachusetts Housing Finance Agency, Multifamily Housing

Bonds, Green Sustainability Series 2024A1, (UB)

.950

12/01/64

3,013,996

3,115,000

(f) Massachusetts Housing Finance Agency, Single Family Housing

Revenue Bonds, Social Series 2024-234, (UB)

.750

12/01/54

3,124,125

5,500,000

(f) Massachusetts Port Authority, Revenue Bonds, Refunding

Series 2017A, (AMT), (UB)

.000

07/01/47

5,518,930

10,000,000

(f) Massachusetts Port Authority, Revenue Bonds, Series 2019C,

(AMT), (UB)

.000

07/01/49

10,064,219

6,880,000

(f) Massachusetts Port Authority, Revenue Bonds, Series 2021E,

(AMT), (UB)

.000

07/01/46

6,973,142

9,770,000

(f) Massachusetts State, General Obligation Bonds, Consolidated

Loan Series 2024E, (UB)

.000

08/01/54

10,170,649

6,320,000

(f) Massachusetts State, General Obligation Bonds, Consolidated

Loan, Series 2023A, (UB)

.000

05/01/53

6,552,577

11,675,000

(f) Massachusetts State, Transportation Fund Revenue Bonds, Rail

Enhancement Program, Green Series 2023A, (UB)

.000

06/01/53

12,108,354

14,000,000

(f) Massachusetts State, Transportation Fund Revenue Bonds, Rail

Enhancement Program, Series 2023B, (UB)

.000

06/01/51

14,540,277

7,000,000

(f) Massachusetts State, Transportation Fund Revenue Bonds, Rail

Enhancement Program, Series 2024B, (UB)

.000

06/01/54

7,292,831

TOTAL MASSACHUSETTS

119,080,626

MICHIGAN - 1.8%

705,000

Chandler Park Academy, Michigan, Public School Academy

Charter School Revenue Bonds, Series 2005

.125

11/01/30

705,157

1,818,503

(e) Concord Academy, Boyne City, Michigan, Certificates of

Participation, Series 2007

.800

11/01/36

1,544,322

545,000

Conner Creek Academy East, Michigan, Public School Revenue

Bonds, Series 2007

.000

11/01/26

541,230

3,750,000

Conner Creek Academy East, Michigan, Public School Revenue

Bonds, Series 2007

.250

11/01/31

3,461,935

3,840,000

Conner Creek Academy East, Michigan, Public School Revenue

Bonds, Series 2007

.250

11/01/36

3,240,964

1,940,000

Detroit Academy of Arts and Sciences, Michigan, Public School

Academy Revenue Bonds, Refunding Series 2013

.000

10/01/33

1,918,978

4,110,000

Detroit Academy of Arts and Sciences, Michigan, Public School

Academy Revenue Bonds, Refunding Series 2013

.000

10/01/43

3,741,556

4,866,412

Detroit City & General Retirement System Service Corporation,

Michigan, Certificates of Participation, Taxable Series 2005A -

FGIC Insured

.813

06/15/26

5,219,227

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MICHIGAN

(continued)

$

18,806,796

Detroit City & General Retirement System Service Corporation,

Michigan, Certificates of Participation, Taxable Series 2005A -

FGIC Insured

.000

%

06/15/27

$

20,311,340

7,360,000

Detroit Community High School, Michigan, Public School

Academy Revenue Bonds, Refunding Series 2021

.000

11/01/35

6,518,949

3,500,000

Flint International Academy, Michigan, Public School Academy

Revenue Bonds, Series 2007

.750

10/01/37

3,499,842

6,000,000

(f) Lansing, Ingham and Eaton Counties, Michigan, General

Obligation Bonds, Refunding & Capital Improvement Series

2023B - AGM Insured, (UB)

.125

06/01/48

5,663,896

27,005,000

(f) Michigan Finance Authority, Distributable State Aid Revenue

Bonds, Charter County of Wayne Criminal Justice Center

Project, Senior Lien Series 2018 - BAM Insured, (UB)

.000

11/01/48

24,875,302

1,945,000

Michigan Finance Authority, Higher Education Limited

Obligation Revenue Bonds, Aquinas College Project,

Refunding Series 2021

.000

05/01/36

1,517,831

2,500,000

(f) Michigan Finance Authority, Hospital Revenue Bonds,

Beaumont Health Credit Group, Series 2016A, (UB)

.000

11/01/44

2,500,771

1,000,000

Michigan Finance Authority, Hospital Revenue Bonds, Bronson

Healthcare Group, Inc., Refunding Series 2019A

.000

05/15/54

1,000,979

10,000,000

(f) Michigan Finance Authority, Hospital Revenue Bonds, Bronson

Healthcare Group, Inc., Refunding Series 2019A, (UB)

.000

05/15/54

10,009,792

12,000,000

(f) Michigan Finance Authority, Hospital Revenue Bonds, Henry

Ford Health System, Refunding Series 2016, (UB)

.000

11/15/41

12,080,308

12,270,000

(f) Michigan Finance Authority, Hospital Revenue Bonds, Henry

Ford Health System, Series 2019A, (UB)

.000

11/15/48

12,311,082

10,000,000

(f) Michigan Finance Authority, Hospital Revenue Bonds, McLaren

Health Care, Series 2019A, (UB)

.000

02/15/44

9,160,829

6,525,000

(f) Michigan Finance Authority, Hospital Revenue Bonds, McLaren

Health Care, Series 2019A, (UB)

.000

02/15/50

5,669,141

5,000,000

Michigan Finance Authority, Michigan, Revenue Bonds, Trinity

Health Credit Group, Refunding Series 2016MI

.000

12/01/45

5,024,271

1,925,000

(d) Michigan Finance Authority, Public School Academy Limited

Obligation Revenue Bonds, Hope Academy Project, Refunding

Series 2021

.400

04/01/31

1,763,213

4,645,000

(d) Michigan Finance Authority, Public School Academy Limited

Obligation Revenue Bonds, Hope Academy Project, Refunding

Series 2021

.900

04/01/41

3,589,685

400,000

Michigan Finance Authority, Public School Academy Limited

Obligation Revenue Bonds, Old Redford Academy Project,

Series 2010A

.500

12/01/40

384,156

10,515,000

(d) Michigan Finance AuthorIty, Public School Academy Limited

Obligation Revenue Bonds, Voyageur Academy Project,

Refunding Series 2017. Private Placement of 2017

.900

07/15/46

8,374,223

1,615,000

Michigan Finance Authority, Senior Revenue Bonds, Michigan,

Provident Group - HFH Energy LLC Act 38 Facilities, The Henry

Ford Health Detroit South Campus Central Utility Plant project,

Green Bonds Series 2024

.375

02/28/54

1,519,320

5,000,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2006 Sold Tobacco Receipts, Taxable Series 2020B

.000

06/01/45

1,375,187

5,000,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2024A

.800

10/01/64

4,970,926

6,500,000

(f) Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2023A, (UB)

.700

12/01/43

6,538,565

6,000,000

(f) Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2023A, (UB)

.900

12/01/48

6,075,021

5,000,000

(f) Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Series 2023B, (UB)

.000

06/01/54

5,067,882

3,500,000

(f) Michigan Housing Development Authority, Single Family

Mortgage Revenue Bonds, Social Series 2024A, (UB)

.700

12/01/53

3,516,658

740,000

Michigan Public Educational Facilities Authority, Charter School

Revenue Bonds, American Montessori Academy, Series 2007

.500

12/01/37

740,282

1,815,000

Michigan Public Educational Facilities Authority, Charter School

Revenue Bonds, American Montessori Academy, Series 2017

.000

12/01/46

1,825,139

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MICHIGAN

(continued)

$

1,505,000

Michigan Public Educational Facilities Authority, Limited

Obligation Revenue Bonds, Chandler Park Academy Project,

Series 2008

.500

%

11/01/35

$

1,505,945

9,990,000

(f) Michigan State Building Authority, Revenue Bonds, Facilities

Program, Series 2021I, (UB)

.000

10/15/56

8,893,692

2,390,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

I-75 Improvement Project, Series 2018, (AMT)

.000

06/30/48

2,356,499

644,580,000

Michigan Tobacco Settlement Finance Authority, Tobacco

Settlement Asset-Backed Revenue Bonds, Capital Appreciation

Turbo Term Series 2008C

.000

06/01/58

15,937,241

3,625,000

Michigan Tobacco Settlement Finance Authority, Tobacco

Settlement Asset-Backed Revenue Bonds, First Subordinate

Capital Appreciation Series 2007B

.000

06/01/52

439,612

99,020,000

Michigan Tobacco Settlement Finance Authority, Tobacco

Settlement Asset-Backed Revenue Bonds, Taxable Capital

Appreciation Turbo Term Series 2008B

.000

06/01/46

13,183,404

320,000

Renaissance Public School Academy, Michigan, Public School

Academy Revenue Bonds, Series 2012A

.500

05/01/27

320,260

1,565,000

Renaissance Public School Academy, Michigan, Public School

Academy Revenue Bonds, Series 2012A

.000

05/01/37

1,565,878

995,000

Saline Economic Development Corporation, Michigan, Limited

Obligation Revenue and Refunding Bonds, Evangelical Homes

of Michigan, Series 2012

.250

06/01/32

945,478

TOTAL MICHIGAN

231,405,968

MINNESOTA - 1.0%

1,000,000

Apple Valley, Minnesota, Senior Housing Revenue Bonds,

PHS Apple Valley Senior Housing, Inc. Orchard Path Phase III

Project, Series 2025A

.625

09/01/65

1,002,337

3,040,000

Bethel, Minnesota Charter School Lease Revenue Bonds,

Partnership Academy Project, Series 2018A

.000

07/01/38

2,723,519

1,570,000

Bethel, Minnesota Charter School Lease Revenue Bonds,

Partnership Academy Project, Series 2018A

.000

07/01/53

1,228,888

9,235,000

Bethel, Minnesota, Charter School Lease Revenue Bonds, Level

Up Academy, Series 2021A

.000

06/15/56

6,515,606

1,315,000

Bethel, Minnesota, Charter School Lease Revenue Bonds,

Partnership Academy Project, Series 2022

.000

07/01/57

1,149,120

6,000,000

Columbia Heights, Minnesota, Charter School Lease Revenue

Bonds, Prodeo Academy Project, Series 2019A

.000

07/01/49

5,128,643

2,000,000

Columbia Heights, Minnesota, Charter School Lease Revenue

Bonds, Prodeo Academy Project, Series 2019A

.000

07/01/54

1,674,823

1,050,000

Columbus, Minnesota, Charter School Lease Revenue Bonds,

New Millennium Academy Project, Series 2015A

.500

07/01/30

1,050,178

6,200,000

Columbus, Minnesota, Charter School Lease Revenue Bonds,

New Millennium Academy Project, Series 2015A

.875

07/01/40

5,990,116

5,000,000

Columbus, Minnesota, Charter School Lease Revenue Bonds,

New Millennium Academy Project, Series 2015A

.000

07/01/45

4,648,497

2,025,000

Coon Rapids, Minnesota Charter School Lease Revenue Bonds

Athlos Leadership Academy Brooklyn Park, Refunding Series

2025

.500

06/15/65

2,027,158

1,000,000

Deephaven, Minnesota, Charter School Lease Revenue Bonds,

Eagle Ridge Academy Project, Series 2015A

.500

07/01/50

999,938

4,700,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A

.000

02/15/58

4,716,055

9,080,000

(f) Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A, (UB)

.000

02/15/58

9,111,018

9,665,000

(f) Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A, (UB)

.250

02/15/58

9,717,127

2,000,000

Forest Lake, Minnesota, Charter School Lease Revenue Bonds,

Lakes International Language Academy, Series 2019A

.375

08/01/50

1,938,739

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA

(continued)

$

4,925,000

Greenwood, Minnesota, Charter School Lease Revenue Bonds,

Main Street School of Performing Arts Project, Series 2016A

.000

%

07/01/47

$

4,095,461

2,000,000

(e) Hayward, Minnesota, Health Care Facilities Revenue Bonds,

American Baptist Homes of the Midwest Obligated Group,

Series 2014

.750

02/01/44

1,389,849

810,000

Hugo, Minnesota, Charter School Lease Revenue Bonds, Noble

Academy Project, Series 2014A

.000

07/01/34

810,263

2,965,000

Hugo, Minnesota, Charter School Lease Revenue Bonds, Noble

Academy Project, Series 2014A

.000

07/01/44

2,799,762

600,000

(d) Independence, Minnesota, Charter School Lease Revenue

Bonds, Spero Academy Project, Series 2021A

.000

07/01/56

459,356

430,000

Independence, Minnesota, Charter School Lease Revenue

Bonds, Spero Academy Project, Taxable Series 2021B

.000

07/01/28

419,134

2,285,000

International Falls, Minnesota, Solid Waste Disposal Revenue

Bonds, Boise Cascade Corporation Project, Refunding Series

1999, (AMT)

.850

12/01/29

2,290,656

1,190,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Cyber Village Academy Project, Series 2022A

.500

06/01/57

1,041,937

1,385,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Friendship Academy of the Arts Project, Series 2019A

.250

12/01/43

1,038,288

2,000,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Friendship Academy of the Arts Project, Series 2019A

.250

12/01/52

1,375,827

1,300,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Hiawatha Academies Project, Series 2022A

.500

07/01/52

1,092,972

2,490,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Hiawatha Academies Project, Series 2022A

.500

07/01/57

2,055,907

1,110,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Northeast College Prep Project, Series 2020A

.000

07/01/55

813,045

1,080,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Spero Academy Project, Series 2017A

.000

07/01/32

1,096,673

1,250,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Spero Academy Project, Series 2017A

.250

07/01/37

1,260,871

5,510,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Spero Academy Project, Series 2017A

.500

07/01/48

5,519,379

5,650,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Twin Cities International Schools Project, Series 2017A

.000

12/01/47

4,960,212

1,840,000

Otsego, Minnesota, Charter School Lease Revenue Bonds,

Kaleidoscope Charter School Project, Series 2014A

.000

09/01/44

1,589,986

3,085,000

Saint Cloud, Minnesota, Charter School Lease Revenue Bonds,

Stride Academy Project, Series 2016A

.000

04/01/46

2,472,619

2,500,000

Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Community of Peace

Academy Project, Refunding Series 2015A

.000

12/01/46

2,390,708

8,520,000

(d) Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Community School of

Excellence, Series 2023

.500

03/01/58

8,264,938

13,850,000

(d) Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Community School of

Excellence, Series 2023

.500

03/01/63

13,292,064

1,500,000

(d) Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Great River School

Project, Series 2017A

.500

07/01/52

1,402,589

2,000,000

Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Hmong College Prep

Academy Project, Series 2016A

.750

09/01/46

2,004,610

5,000,000

Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Hope Community

Academy Project, Series 2020A

.000

12/01/55

3,603,774

960,000

Sauk Rapids, Minnesota, Health Care and Housing Facilities

Revenue Bonds, Good Shepherd Luthran Home, Refunding

Series 2013

.125

01/01/39

836,276

4,795,000

Savage, Minnesota Charter School Lease Revenue Bonds,

Aspen Academy Project, Series 2016A

.125

10/01/48

4,267,413

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA

(continued)

$

1,500,000

Spring Lake Park, Minnesota, Charter School Lease Revenue

Bonds, Excell Academy for Higher Learning Inc., Series 2019A

.000

%

06/15/49

$

1,351,388

360,000

Stillwater, Minnesota, Multifamily Housing Revenue Bonds,

Orleans Homes LP, Series 2007, (AMT)

.250

02/01/27

360,114

800,000

Stillwater, Minnesota, Multifamily Housing Revenue Bonds,

Orleans Homes LP, Series 2007, (AMT)

.500

02/01/42

757,260

315,000

Winona Port Authority, Minnesota, Charter School Lease

Revenue Bonds, Bluffview Montessori School Project,

Refunding Series 2016

.500

06/01/36

283,063

TOTAL MINNESOTA

135,018,156

MISSISSIPPI - 0.1%

3,640,000

(d),(e)

Mississippi Business Finance Corporation, Gulf Opportunity

Zone Revenue Bonds, King Edward Mixed-Use Project, Taxable

Refunding Series 2019A, (Mandatory Put 6/15/25)

.000

10/15/49

3,458,000

8,000,000

Mississippi Business Finance Corporation, Revenue Bonds,

System Energy Resources, Inc. Project, Refunding Series 2021

.375

06/01/44

5,014,081

861,058

Mississippi Home Corporation, Multifamily Housing Revenue

Bonds, Tupelo Personal Care Apartments, Series 2004-2, (AMT)

.125

09/01/34

786,238

6,905,000

Mississippi Home Corporation, Single Family Mortgage

Revenue Bonds, Series 2024E

.650

12/01/54

6,855,743

TOTAL MISSISSIPPI

16,114,062

MISSOURI - 1.5%

755,000

Blue Springs, Missouri, Special Obligation Tax Increment

Bonds, Adams Farm Project, Special Districts Refunding &

Improvement Series 2015A

.250

06/01/39

754,982

2,202,672

(d) Branson Industrial Development Authority, Missouri, Tax

Increment Revenue Bonds, Branson Shoppes Redevelopment

Project, Refunding Series 2017B

.000

11/01/29

1,986,229

125,000

Cape Girardeau County Industrial Development Authority,

Missouri, Health Facilities Revenue Bonds, Southeasthealth,

Series 2016A

.000

03/01/33

126,451

2,499,531

(e) Fulton, Missouri, Tax Increment Revenue Bonds, Fulton

Commons Redevelopment Project, Series 2006

.000

06/01/28

524,902

1,865,000

Hanley/Eager Road Transportation Development District,

Missouri, Revenue Bonds, Refunding Series 2016A

.000

03/01/42

1,547,492

3,705,000

Hannibal Industrial Development Authority, Missouri, Health

Facilities Revenue Bonds, Hannibal Regional Healthcare

System, Series 2017

.000

10/01/47

3,426,620

10,000,000

(f) Jackson County, Missouri, Special Obligation Bonds, Series

2023A, (UB)

.250

12/01/53

9,458,049

7,895,000

(f) Kansas City Industrial Development Authority, Missouri, Airport

Special Obligation Bonds, Kansas City International Airport

Terminal Modernization Project, Series 2020A, (AMT), (UB)

.000

03/01/45

7,089,644

20,140,000

(f) Kansas City Industrial Development Authority, Missouri, Airport

Special Obligation Bonds, Kansas City International Airport

Terminal Modernization Project, Series 2020A - AGM Insured,

(AMT), (UB)

.000

03/01/50

17,654,364

10,000,000

(f) Kansas City Industrial Development Authority, Missouri, Airport

Special Obligation Bonds, Kansas City International Airport

Terminal Modernization Project, Series 2020A - AGM Insured,

(AMT), (UB)

.000

03/01/57

9,962,992

3,080,000

(d) Kansas City Industrial Development Authority, Missouri,

Revenue Bonds, Platte Purchase Project A, Series 2019

.000

07/01/40

2,992,760

775,000

(d) Kansas City Industrial Development Authority, Missouri,

Sales Tax Revenue Bonds, Ward Parkway Center Community

Improvement District, Senior Refunding & Improvement Series

2016

.000

04/01/36

760,700

3,140,000

(d) Kansas City Industrial Development Authority, Missouri,

Sales Tax Revenue Bonds, Ward Parkway Center Community

Improvement District, Senior Refunding & Improvement Series

2016

.000

04/01/46

2,799,353

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MISSOURI

(continued)

$

4,758,000

(d) Kansas City Industrial Development Authority, Missouri,

Sales Tax Revenue Bonds, Ward Parkway Center Community

Improvement District, Subordinate Refunding & Improvement

Series 2016

.000

%

04/15/46

$

4,096,315

1,200,000

Kirkwood Industrial Development Authority, Missouri,

Retirement Community Revenue Bonds, Aberdeen Heights

Project, Refunding Series 2017A

.250

05/15/42

1,117,173

131,463

Lakeside 370 Levee District, Saint Charles, Missouri, Subdistrict

A Bonds, Refunding Series 2015A

.750

04/01/55

110,361

1,562,942

Lakeside 370 Levee District, Saint Charles, Missouri, Subdistrict

B Bonds, Refunding Taxable Series 2015B

.000

04/01/55

1,406,648

590,000

Lees Summit Industrial Development Authority, Missouri,

Special Assessment and Sales Tax Revenue Bonds, Summit Fair

Community Improvement District Project, Series 2012

.000

05/01/35

539,735

2,365,000

Lees Summit Industrial Development Authority, Missouri,

Special Assessment and Sales Tax Revenue Bonds, Summit Fair

Community Improvement District Project, Series 2012

.000

05/01/42

2,158,374

2,500,000

(d) Lee's Summit, Missouri, Special Obligation Tax Increment

and Special District Improvement Bonds, Summit Fair Project,

Refunding Series 2017

.875

11/01/37

2,362,837

4,200,000

(d) Liberty, Missouri, Special Obligation Tax Increment and Special

Districts Bonds, Liberty Commons Project, Series 2015A

.750

06/01/35

4,139,424

3,965,000

(d) Liberty, Missouri, Special Obligation Tax Increment and Special

Districts Bonds, Liberty Commons Project, Series 2015A

.000

06/01/46

3,806,314

7,095,000

(d) Liberty, Missouri, Special Obligation Tax Increment and Special

Districts Bonds, Liberty Commons Project, Subordinate Lien

Series 2015B

.500

06/15/46

6,862,989

1,000,000

M150 and 135th Street Transporation Development District,

Kansas City, Missouri, Transportation Sales Tax Revenue Bonds,

Series 2020A

.250

10/01/43

934,693

2,000,000

(d) Missouri Health and Educational Facilities Authority,

Educational Facilities Revenue Bonds, Missouri Baptist

University, Series 2025

.250

10/01/55

2,000,916

10,000,000

(f) Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Series 2025A,

(UB)

.000

04/01/45

9,212,569

10,000,000

(f) Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mercy Health, Series 2014F, (UB)

.000

11/15/45

10,002,336

5,000,000

(f) Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mercy Health, Series 2020 - BAM

Insured, (UB)

.000

06/01/53

4,482,885

7,315,000

(f) Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mercy Health, Series 2023, (UB)

.000

12/01/52

7,540,045

6,570,000

(f) Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mosaic Health System, Series 2019A,

(UB)

.000

02/15/54

5,621,050

1,405,195

(d) North Outer Forty Transportation Development District,

Chesterfield, Missouri, Transportation Development Revenue

Notes, Refunding Series 2021A

.000

12/01/46

1,122,078

2,930,000

(d) Saint Charles County Industrial Development Authority,

Missouri, Sales Tax Revenue Bonds, O'Fallon Retail Walk

Community Improvement District Project, Series 2017A

.250

12/01/36

2,809,178

3,000,000

(d) Saint Charles County Industrial Development Authority,

Missouri, Sales Tax Revenue Bonds, Wentzville Parkway

Regional Community Improvement District Project, Series

2019B

.250

11/01/49

2,498,694

600,000

Saint Louis County Industrial Development Authority, Missouri,

Health Facilities Revenue Bonds, Nazareth Living Center, Series

2015A

.000

08/15/35

591,136

1,800,000

Saint Louis County Industrial Development Authority, Missouri,

Health Facilities Revenue Bonds, Nazareth Living Center, Series

2015A

.125

08/15/45

1,569,631

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MISSOURI

(continued)

$

3,215,000

Saint Louis County Industrial Development Authority, Missouri,

Revenue Bonds, Saint Andrew's Resources for Seniors, Series

2015A

.125

%

12/01/45

$

2,873,293

9,330,000

(f) Saint Louis County, Missouri, Special Obligation Bonds,

Community Center Projects, Series 2022A, (UB)

.000

12/01/42

9,015,079

10,210,000

(f) Saint Louis County, Missouri, Special Obligation Bonds,

Community Center Projects, Series 2022A, (UB)

.000

12/01/44

9,730,837

10,620,000

(f) Saint Louis County, Missouri, Special Obligation Bonds,

Community Center Projects, Series 2022A, (UB)

.000

12/01/45

10,083,011

8,465,000

(f) Saint Louis County, Missouri, Special Obligation Bonds,

Community Center Projects, Series 2022A, (UB)

.250

12/01/46

8,292,216

10,885,000

(f) Saint Louis County, Missouri, Special Obligation Bonds,

Community Center Projects, Series 2022A, (UB)

.000

12/01/47

10,273,197

5,100,000

(d) Saint Louis Industrial Development Authority, Missouri,

Revenue Bonds, Confluence Academy Project, Series 2022A

.625

06/15/53

4,418,796

2,000,000

Saint Louis Industrial Development Authority, Missouri, Tax

Increment and Special District Revenue Bonds, Union Station

Phase 2 Redevelopment Project, Series 2024A

.750

06/15/54

2,009,722

1,664,000

(e) Saint Louis, Missouri, Tax Increment Bonds, 410 North Jefferson

Lofts Project, Series 2007

.850

09/01/27

183,040

2,264,000

Saint Louis, Missouri, Tax Increment Financing Revenue Notes,

Marquette Building Redevelopment Project, Series 2008-A

.500

01/23/28

792,400

1,127,000

Saint Louis, Missouri, Tax-Exempt Revenue Notes, City Block

1859, Grand Avenue/Cozens/Evans Redevelopment Project,

Series 2008-A

.500

12/11/29

631,120

2,205,000

(e) St Louis, Missouri, Tax Increment Financing District Revenue

Bonds, Printers Lofts Project, Series 2006

.900

08/21/26

154,350

120,000

Stoddard County Industrial Development Authority, Missouri,

Health Facility Revenue Bonds, Southeasthealth, Series 2016B

.000

03/01/37

121,247

1,100,000

Town and Country Crossing Transportation Development

District, Missouri, Transporation Sales Tax Revenue Bonds,

Refunding Series 2020A

.875

04/01/47

911,093

3,075,000

Universal City Industrial Development Authority, Missouri,

Revenue Bonds, Tax Increment and Special District Markets at

Olive Project Series 2023A

.500

06/15/42

3,058,639

TOTAL MISSOURI

196,617,959

MONTANA - 0.0%

500,000

Kalispell, Montana, Housing and Healthcare Facilities Revenue

Bonds, Immanuel Lutheran Corporation, Series 2017A

.250

05/15/37

501,694

4,275,000

Montana Board of Housing, Single Family Mortgage Bonds,

Series 2024A

.650

06/01/54

4,254,821

TOTAL MONTANA

4,756,515

NEBRASKA - 0.7%

11,090,000

(f) Douglas County Hospital Authority 2, Nebraska, Health

Facilities Revenue Bonds, Children's Hospital Obligated Group,

Series 2017, (UB)

.000

11/15/47

11,143,972

3,460,000

Nebraska Educational, Health, Cultural and Social Services

Finance Authority, Revenue Bonds, Immanuel Retirement

Communities Obligated Group, Series 2019A

.000

01/01/44

3,131,034

13,660,000

(f) Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Series 2023A, (UB)

.550

09/01/48

13,521,057

18,810,000

(f) Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Social Series 2023C, (UB)

.800

09/01/53

18,838,042

9,245,000

(f) Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Social Series 2024A, (UB)

.700

09/01/49

9,258,048

3,995,000

(f) Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Social Series 2024A, (UB)

.800

09/01/54

3,999,233

10,000,000

(f) Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Social Series 2024E, (UB)

.800

09/01/54

10,050,490

14,000,000

(f) Omaha Public Power District, Nebraska, Electric System

Revenue Bonds, Series 2021A - AGM Insured, (UB)

.000

02/01/51

12,872,694

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEBRASKA

(continued)

$

11,580,000

(f) Omaha Public Power District, Nebraska, Electric System

Revenue Bonds, Series 2021A, (UB)

.000

%

02/01/51

$

10,574,227

TOTAL NEBRASKA

93,388,797

NEVADA - 0.4%

760,000

Clark County, Nevada, Local Improvement Bonds, Special

Improvement District 159 Summerlin Village 16A, Series 2015

.000

08/01/35

760,416

9,324,629

(d),(e)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Green Series 2017B, (AMT)

.125

12/15/37

2,140,620

(d),(e)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Green Series 2018, (AMT)

.250

12/15/37

14,082,845

(d),(e)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Green Series 2018, (AMT)

.950

02/15/38

8,703,659

(d),(e)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Green Series 2020

.750

02/15/38

7,308,521

(d),(e)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Series 2017, (AMT)

.875

12/15/27

63,526,555

(d),(e)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Series 2017, (AMT)

.250

12/15/37

635

33,292,396

(d),(e)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

Holdings LLC, Green Series 2019, (AMT)

.750

02/15/38

2,310,000

Henderson, Nevada, Limited Obligation Bonds, Local

Improvement District T-18 Inspirada, Refunding Series 2016

.000

09/01/35

2,204,149

485,000

Henderson, Nevada, Local Improvement Bonds, Local

Improvement District T-21 Black Mountain Ranch, Series 2022

.500

09/01/45

369,421

1,125,000

Henderson, Nevada, Local Improvement Bonds, Local

Improvement District T-22 Rainbow Canyon Phase II, Series

2023

.250

03/01/48

1,117,747

1,225,000

Henderson, Nevada, Local Improvement Bonds, Local

Improvement District T-22 Rainbow Canyon Phase II, Series

2023

.250

03/01/53

1,201,104

670,000

Henderson, Nevada, Local Improvement District No. T-20

Rainbow Canyon, Local Improvement Bonds, Series 2018

.000

09/01/38

653,388

6,440,000

Henderson, Nevada, Local Improvement District No. T-20

Rainbow Canyon, Local Improvement Bonds, Series 2018

.375

09/01/48

6,077,797

1,000,000

(i) Las Vegas Special Improvement District 819, Nevada, Local

Improvement Bonds, Summerlin Village 30A Series 2025

.500

06/01/55

1,000,672

8,325,000

(f) Las Vegas, Nevada, General Obligation Bonds, Various Purpose

Bonds, Limited Tax Civic Center Series 2023A, (UB)

.000

03/01/53

7,560,062

900,000

Las Vegas, Nevada, Local Improvement Bonds, Special

Improvement District 812 Summerlin Village 24, Series 2015

.000

12/01/35

901,513

470,000

Las Vegas, Nevada, Local Improvement Bonds, Special

Improvement District 812 Summerlin Village 26, Series 2017

.500

06/01/47

440,996

1,005,000

Mesquite, Nevada, Local Improvement Bonds, Special

Improvement District 07-01 Anthem at Mesquite, Refunding

Series 2016

.250

08/01/37

958,463

2,055,000

(d) North Las Vegas, Nevada, Local Improvement Bonds, Special

Improvement District 65 Northern Beltway Commercial Area,

Series 2017

.000

12/01/37

2,059,267

4,085,000

(d) North Las Vegas, Nevada, Local Improvement Bonds, Special

Improvement District 65 Northern Beltway Commercial Area,

Series 2017

.000

12/01/47

3,960,912

1,510,000

Reno, Nevada, Redevelopment Agency Downtown Project Tax

Allocation Bonds, Series 2007C

.400

06/01/27

1,510,267

24,000,000

(d) Reno, Nevada, Subordinate Lien Sales Tax Revenue Refunding

Capital Appreciation Bonds, ReTrac-Reno Transporation Rail

Access Corridor Project, Series 2018C

.000

07/01/58

3,774,562

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEVADA

(continued)

$

90,000,000

(d) Reno, Nevada, Subordinate Lien Sales Tax Revenue Refunding

Capital Appreciation Bonds, ReTrac-Reno Transporation Rail

Access Corridor Project, Series 2018D

.000

%

07/01/58

$

10,531,089

500,000

Sparks Special Improvement District 1, Nevada, Local

Improvement Bonds, 5 Ridges Series 2024

.125

06/01/54

483,585

TOTAL NEVADA

45,566,793

NEW HAMPSHIRE - 0.3%

370,000

Manchester Housing and Redevelopment Authority, New

Hampshire, Revenue Bonds, Series 2000B - ACA Insured

.000

01/01/27

354,026

730,000

Manchester Housing and Redevelopment Authority, New

Hampshire, Revenue Bonds, Series 2000B - ACA Insured

.000

01/01/29

650,989

3,320,000

Manchester Housing and Redevelopment Authority, New

Hampshire, Revenue Bonds, Series 2000B - ACA Insured

.000

01/01/30

2,853,103

4,177,095

National Finance Authority, New Hampshire, Municipal

Certificates Social Series 2024-2 Class A

.625

08/20/39

3,911,537

6,750,000

(d) National Finance Authority, New Hampshire, Resource

Recovery Revenue Bonds, Covanta Project, Refunding Series

2018C, (AMT)

.875

11/01/42

6,239,627

2,960,000

(d) National Finance Authority, New Hampshire, Resource

Recovery Revenue Bonds, Covanta Project, Refunding Series

2020A, (Mandatory Put 7/02/40)

.625

07/01/43

2,453,713

2,475,000

(d) National Finance Authority, New Hampshire, Resource

Recovery Revenue Bonds, Covanta Project, Refunding Series

2020B, (AMT), (Mandatory Put 7/02/40)

.750

07/01/45

2,040,349

12,405,000

(d) National Finance Authority, New Hampshire, Special

Revenue Bonds, Bridgeland Water & Utility Districts

418,489,492,493,157 & 159, Series 2025

.875

12/15/33

12,484,505

4,400,000

(d) National Finance Authority, New Hampshire, Special Revenue

Bonds, Mill Creek Project, Montgomery County, Texas Series

2025

.950

12/01/31

4,420,654

5,925,000

(d) National Finance Authority, New Hampshire, Special Revenue

Bonds, The Chambers Creek Project, Montgomery County,

Texas Municipal Utility Districts, Capital Appreciation Series

2025

.000

12/15/32

3,733,181

5,655,000

(d) National Finance Authority, New Hampshire, Special Revenue

Bonds, Wildflower Project, Denton County, Texas, Capital

Appreciation Series 2025

.000

12/15/33

3,469,085

1,000,000

(d) New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Covenant Health Group Series 2023

.000

07/01/37

855,273

TOTAL NEW HAMPSHIRE

43,466,042

NEW JERSEY - 1.4%

6,360,000

Bayonne Redevelopment Agency, New Jersey, Revenue Bonds,

Royal Caribbean Cruises Project, Series 2006A, (AMT)

.375

11/01/35

5,597,126

3,570,000

Camden County Improvement Authority, New Jersey, School

Revenue Bonds, KIPP: Cooper Norcross Academy 2022 Project,

Social Series 2022

.000

06/15/62

3,692,995

705,000

(d) New Jersey Economic Development Authority Revenue Bonds,

Black Horse EHT Urban Renewal LLC Project, Series 2019A

.000

10/01/39

549,720

785,000

(d) New Jersey Economic Development Authority, Charter School

Revenue Bonds, Greater Brunswick Charter School, Series

2014A

.625

08/01/34

785,183

1,530,000

(d) New Jersey Economic Development Authority, Charter School

Revenue Bonds, Greater Brunswick Charter School, Series

2014A

.875

08/01/44

1,529,973

1,000,000

(d) New Jersey Economic Development Authority, Charter School

Revenue Bonds, Greater Brunswick Charter School, Series

2014A

.000

08/01/49

1,000,023

2,325,000

(d) New Jersey Economic Development Authority, Charter School

Revenue Bonds, Teaneck Community Charter School, Series

2017A

.125

09/01/52

2,212,188

1,075,000

New Jersey Economic Development Authority, Fixed Rate

Revenue Bonds, Lions Gate Project, Series 2014

.000

01/01/34

1,074,931

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW JERSEY

(continued)

$

1,675,000

New Jersey Economic Development Authority, Fixed Rate

Revenue Bonds, Lions Gate Project, Series 2014

.250

%

01/01/44

$

1,538,961

230,000

New Jersey Economic Development Authority, Lease

Revenue Bonds, State Government Buildings-Juvenile Justice

Commission Facilities Project, Series 2018C

.000

06/15/36

237,653

6,150,000

(d) New Jersey Economic Development Authority, New Jersey,

Dock and Wharf Facility Revenue Bonds, Repauno Port & Rail

Terminal Project, Series 2025, (AMT)

.375

01/01/35

6,359,716

6,250,000

(d) New Jersey Economic Development Authority, New Jersey,

Dock and Wharf Facility Revenue Bonds, Repauno Port & Rail

Terminal Project, Series 2025, (AMT)

.625

01/01/45

6,463,141

2,500,000

(f) New Jersey Economic Development Authority, New Jersey,

Transit Transportation Project Revenue Bonds, Portal North

Bridge Project Series 2022A, (UB)

.000

11/01/52

2,559,804

6,000,000

(f) New Jersey Economic Development Authority, New Jersey,

Transit Transportation Project Revenue Bonds, Series 2020A,

(UB)

.000

11/01/44

5,495,669

15,000,000

(f),(h),(j)

New Jersey Economic Development Authority, School Facilities

Construction Bonds, Series 2016AAA, (Pre-refunded 12/15/26),

(UB)

.000

06/15/41

15,452,889

775,000

(d) New Jersey Economic Development Authority, School Revenue

Bonds, Leap Academy University Charter School Inc. Project;

Series 2014A

.000

10/01/34

775,708

2,255,000

(d) New Jersey Economic Development Authority, School Revenue

Bonds, Leap Academy University Charter School Inc. Project;

Series 2014A

.200

10/01/44

2,255,804

3,000,000

New Jersey Economic Development Authority, Special

Facilities Revenue Bonds, Continental Airlines Inc., Series

2000A & 2000B, (AMT)

.625

11/15/30

3,005,317

4,050,000

New Jersey Economic Development Authority, Special

Facilities Revenue Bonds, Continental Airlines Inc., Series

2000A & 2000B, (AMT)

.625

11/15/30

4,057,178

2,580,000

New Jersey Economic Development Authority, Special

Facilities Revenue Bonds, Continental Airlines Inc., Series 2003,

(AMT)

.500

06/01/33

2,584,234

3,985,000

(f) New Jersey Educational Facilities Authority, Revenue Bonds,

Higher Education Capital Improvement Fund Series 2023A,

(UB)

.625

09/01/48

3,985,155

3,360,000

(f) New Jersey Educational Facilities Authority, Revenue Bonds,

Higher Education Capital Improvement Fund Series 2023A,

(UB)

.250

09/01/53

3,493,218

15,555,000

(d) New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Village Drive Healthcare Urban Renewal LLC, Series

2018

.750

10/01/38

11,345,181

7,625,000

(f) New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Subordinate Series 2020C,

(AMT), (UB)

.250

12/01/50

6,566,918

25,975,000

(f) New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2019AA, (UB)

.500

06/15/49

25,558,896

14,025,000

(f),(h)

New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2019AA, (Pre-refunded 12/15/28), (UB)

.500

06/15/49

14,966,012

10,000,000

(f) New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2023AA

.250

06/15/44

9,634,585

12,250,000

(f) New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2023BB, (UB)

.000

06/15/46

12,702,245

8,410,000

(f) New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2023BB, (UB)

.250

06/15/50

8,816,849

925,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2009A

.000

12/15/38

541,176

2,965,000

(f) New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019BB, (UB)

.000

06/15/44

3,018,204

7,250,000

(f) New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019BB, (UB)

.000

06/15/50

6,496,566

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW JERSEY

(continued)

$

15,000,000

(f) New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2020AA, (UB)

.000

%

06/15/45

$

13,706,457

TOTAL NEW JERSEY

188,059,675

NEW MEXICO - 0.2%

1,100,000

Boulders Public Improvement District, Albuquerque, New

Mexico, Special Levy Revenue Bonds, Series 2013

.250

10/01/43

1,101,209

650,000

Boulders Public Improvement District, Albuquerque, New

Mexico, Special Levy Revenue Bonds, Series 2015

.750

10/01/44

645,593

3,180,000

Mariposa East Public Improvement District, New Mexico,

Revenue Bonds, Capital Appreciation Taxable Series 2015D

.000

03/01/32

1,781,449

435,000

Mariposa East Public Improvement District, New Mexico,

Special Levy Revenue Bonds, Series 2015A

.900

09/01/32

434,994

2,815,000

Mariposa East Public Improvement District, New Mexico,

Special Levy Revenue Bonds, Series 2015C

.900

09/01/32

2,814,963

2,000,000

Mesa Del Sol Public Improvement District 1, Albuquerque, New

Mexico, Special Levy Revenue Bonds, Series 2013

.250

10/01/43

1,994,878

2,145,000

New Mexico Hospital Equipment Loan Council, First Mortgage

Revenue Bonds, Haverland Carter Lifestyle Group - La Vida

Llena Expansion Project, Series 2019A

.000

07/01/39

2,073,270

2,200,000

New Mexico Hospital Equipment Loan Council, First Mortgage

Revenue Bonds, Haverland Carter Lifestyle Group - La Vida

Llena Expansion Project, Series 2019A

.000

07/01/49

1,930,088

4,305,000

(f) New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2023C, (UB)

.650

09/01/48

4,290,530

2,470,000

(f) New Mexico Mortgage Finance Authority, Single Family

Mortgage Program Bonds, Class 1 Series 2023C, (UB)

.700

09/01/53

2,481,081

1,000,000

(d) Winrock Town Center Tax Increment Development District

1, Albuquerque, New Mexico, Gross Receipts Tax Increment

Bonds, Senior Lien Series 2022

.250

05/01/40

930,102

4,948,000

(d) Winrock Town Center Tax Increment Development District

1, Albuquerque, New Mexico, Gross Receipts Tax Increment

Bonds, Subordinate Lien Series 2020

.000

05/01/40

4,950,934

TOTAL NEW MEXICO

25,429,091

NEW YORK - 14.4%

3,415,000

Babylon Local Development Corporation II, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2023A

.400

02/01/43

3,464,302

7,885,000

Babylon Local Development Corporation II, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2023A

.650

02/01/53

7,935,899

5,500,000

Brooklyn Arena Local Development Corporation, New York,

Payment in Lieu of Taxes Revenue Bonds, Barclays Center

Project, Refunding Series 2016A

.000

07/15/42

5,511,859

14,015,000

Broome County Local Development Corporation, New York,

Revenue Bonds, United Health Services Hospitals, Inc. Project,

Series 2020 - AGM Insured

.000

04/01/45

10,855,785

4,000,000

Build New York City Resource Corporation, New York, Revenue

Bonds, KIPP New York City Public School Facilities, Canal West

Project, Series 2022

.250

07/01/52

4,010,451

200,000

(e) Build New York City Resource Corporation, New York, Revenue

Bonds, Metropolitan College of New York, Series 2014

.000

11/01/39

140,000

7,645,000

(e) Build New York City Resource Corporation, New York, Revenue

Bonds, Metropolitan College of New York, Series 2014

.500

11/01/44

5,351,500

7,420,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Albert Einstein College of Medicine, Inc, Series 2015

.500

09/01/45

7,235,120

2,575,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Albert Einstein College of Medicine, Inc, Series 2023

.250

06/01/55

2,675,422

17,240,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020A-1

.500

06/01/55

14,983,858

6,000,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020C-1

.000

06/01/55

4,829,144

2,125,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Taxable Series 2020A-2

.250

06/01/28

2,096,832

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

32,430,000

(d) Dormitory Authority of the State of New York, General Revenue

Bonds, American Musical and Dramatic Academy Inc., Series

2023A

.250

%

07/01/53

$

32,941,846

33,000,000

(f) Dormitory Authority of the State of New York, General Revenue

Bonds, Northwell Health Obligated Group, Series 2022A -

AGM Insured, (UB)

.250

05/01/52

30,941,708

19,550,000

(f) Dormitory Authority of the State of New York, Revenue Bonds,

Memorial Sloan Kettering Cancer Center Series 2022-1B, (UB)

.000

07/01/51

17,878,324

12,000,000

(f) Dormitory Authority of the State of New York, Revenue Bonds,

NYU Langone Hospitals Obligated Group, Series 2020A, (UB)

.000

07/01/50

10,583,068

225,000

Dormitory Authority of the State of New York, Revenue Bonds,

Saint Josephs College, Series 2021

.000

07/01/40

189,390

5,000,000

(d) Dormitory Authority of the State of New York, Revenue Bonds,

Vaughn College of Aeronautics & Technology, Series 2016A

.500

12/01/36

4,528,968

4,000,000

(d) Dormitory Authority of the State of New York, Revenue Bonds,

Vaughn College of Aeronautics & Technology, Series 2016A

.500

12/01/46

3,258,191

5,000

(h) Dormitory Authority of the State of New York, State Personal

Income Tax Revenue Bonds, General Purpose, Series 2019A,

(Pre-refunded 3/15/29)

.000

03/15/49

5,271

8,860,000

(f) Dormitory Authority of the State of New York, State Personal

Income Tax Revenue Bonds, General Purpose, Series 2019D,

(UB)

.000

02/15/47

8,300,472

12,465,000

Glen Cove Local Economic Assistance Corporation, New York,

Revenue Bonds, Garvies Point Public Improvement Project,

Capital Appreciation Series 2016B

.000

01/01/45

3,459,603

33,320,000

Glen Cove Local Economic Assistance Corporation, New York,

Revenue Bonds, Garvies Point Public Improvement Project,

Capital Appreciation Series 2016C

.625

01/01/55

29,617,975

5,560,000

Glen Cove Local Economic Assistance Corporation, New York,

Revenue Bonds, Garvies Point Public Improvement Project,

Current Interest Series 2016A

.000

01/01/56

4,447,350

4,770,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Refunding Series 2020B

.660

02/01/44

4,473,028

9,600,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2017A

.240

02/01/47

9,435,347

12,120,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2018A

.760

02/01/48

12,207,355

4,460,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2020A

.530

02/01/40

4,298,894

5,880,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2020A

.730

02/01/50

5,350,409

5,890,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2021A

.600

02/01/51

4,510,489

7,035,000

(f) Long Island Power Authority, New York, Electric System General

Revenue Bonds, Green Series 2023E, (UB)

.000

09/01/48

7,322,081

5,000,000

(e) Madison County Capital Resource Corporation, New York,

Revenue Bonds, Cazenovia College Project, Series 2019A

.500

09/01/26

2,200,000

13,500,000

(f) Metropolitan Transportation Authority, New York, Revenue

Bonds, Green Bond Series 2020D - BAM Insured, (UB)

.000

11/15/47

12,315,553

20,160,000

(f) Metropolitan Transportation Authority, New York, Revenue

Bonds, Green Bond Series 2020D - BAM Insured, (UB)

.000

11/15/48

18,303,226

9,000,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2019B - AGM Insured, (UB)

.000

11/15/49

7,994,949

20,000,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2019B - BAM Insured, (UB)

.000

11/15/50

17,758,456

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

7,450,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020A-1, (UB)

.000

%

11/15/47

$

7,529,725

29,225,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020C-1, (UB)

.750

11/15/45

29,095,183

22,885,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020C-1, (UB)

.000

11/15/50

23,081,513

55,425,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020C-1, (UB)

.250

11/15/55

56,529,299

6,500,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020D-1, (UB)

.000

11/15/43

6,636,290

37,400,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020D-1, (UB)

.000

11/15/45

37,981,394

22,575,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020D-2, (UB)

.000

11/15/47

20,420,180

13,120,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020D-2, (UB)

.000

11/15/48

11,825,519

29,130,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020D-3, (UB)

.000

11/15/49

26,210,312

14,980,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020D-3, (UB)

.000

11/15/50

13,444,063

20,000,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2021A-1, (UB)

.000

11/15/47

17,817,530

10,400,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2021A-1, (UB)

.000

11/15/48

9,234,704

27,000,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2021A-1, (UB)

.000

11/15/50

23,852,807

600,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Refunding Series 2024A

- BAM Insured

.250

11/15/49

627,964

18,000,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Refunding Series 2024A

- BAM Insured, (UB)

.250

11/15/49

18,838,924

40,510,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Refunding Series 2017D, (UB)

.000

11/15/42

37,327,786

15,000,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Series 2021A-2, (UB)

.000

11/15/43

13,670,411

2,000,000

(d) Monroe County Industrial Development Corporation, New

York, Revenue Bonds, Academy of Health Sciences Charter

School Project, Social Impact Series 2022

.000

07/01/57

1,982,038

5,000,000

Monroe County Industrial Development Corporation, New

York, Revenue Bonds, Saint Anns Community Project, Series

2019

.000

01/01/50

4,248,392

4,000,000

MTA Hudson Rail Yards Trust Obligations, New York,

MTA Financing Agreement Payable by the Metropolitan

Transportation Authority, Series 2016A

.000

11/15/51

3,999,772

9,070,000

(f) MTA Hudson Rail Yards Trust Obligations, New York,

MTA Financing Agreement Payable by the Metropolitan

Transportation Authority, Series 2016A, (UB)

.000

11/15/56

8,994,091

760,000

Nassau County Tobacco Settlement Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Series 2006A-3

.000

06/01/35

649,655

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

5,000,000

(f) New York City Housing Development Corporation, New

York, Multifamily Housing Revenue Bonds, Green Sustainable

Development Series 2024F-1-A, (UB)

.000

%

11/01/54

$

5,094,398

1,380,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Series 2014G

.900

05/01/45

1,243,040

5,110,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Green Series 2021F-1

.400

11/01/46

3,447,827

8,155,000

New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2020A-1C

.000

11/01/55

5,954,221

2,800,000

New York City Housing Development Corporation, New York,

Multi-Family Mortgage Revenue Bonds, 8 Spruce Street, Class

F Series 2024

.250

12/15/31

2,890,103

3,970,000

(e) New York City Industrial Development Agency, New York, Civic

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.250

10/01/26

2,540,800

28,995,000

(e) New York City Industrial Development Agency, New York, Civic

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.300

10/01/27

18,556,800

37,910,000

(e) New York City Industrial Development Agency, New York, Civic

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.300

10/01/37

24,262,400

84,140,000

(e) New York City Industrial Development Agency, New York, Civic

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.350

10/01/46

53,849,600

7,615,000

(f) New York City Municipal Water Finance Authority, New York,

Water and Sewer System Second General Resolution Revenue

Bonds, Fiscal 2020 Serries BB-1, (UB)

.000

06/15/49

7,004,783

26,665,000

(f) New York City Municipal Water Finance Authority, New York,

Water and Sewer System Second General Resolution Revenue

Bonds, Fiscal 2023 Series DD, (UB)

.125

06/15/46

25,473,043

27,000,000

(f) New York City Municipal Water Finance Authority, New York,

Water and Sewer System Second General Resolution Revenue

Bonds, Fiscal 2023 Series DD, (UB)

.125

06/15/47

25,695,176

10,000,000

(f) New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2023F-1, (UB)

.000

02/01/51

9,281,855

10,000,000

(f) New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025C-1, (UB)

.000

05/01/47

10,446,308

4,125,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025D

.250

05/01/54

3,954,260

8,465,000

(f) New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025D, (UB)

.250

05/01/54

8,114,621

5,290,000

(f) New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025H-1, (UB)

.250

11/01/48

5,640,749

7,000,000

(f) New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025I-1, (UB)

.500

05/01/53

7,589,177

10,335,000

(f) New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Series 2024C, (UB)

.250

05/01/50

10,864,549

10,725,000

(f) New York City, New York, General Obligation Bonds, Fiscal

2021 Series F-1, (UB)

.000

03/01/47

9,708,666

29,000,000

(f) New York City, New York, General Obligation Bonds, Fiscal

2023 Series E-1, (UB)

.000

04/01/50

26,263,235

5,850,000

(f) New York City, New York, General Obligation Bonds, Fiscal

2024 Series A

.000

08/01/51

6,064,187

7,565,000

(f) New York City, New York, General Obligation Bonds, Fiscal

2025 Series C-1, (UB)

.250

09/01/46

8,071,039

75,000,000

New York Counties Tobacco Trust V, New York, Tobacco

Settlement Pass-Through Bonds, SubordinateTurbo CABs,

Series 2005-S2

.000

06/01/50

11,097,420

5,500,000

(d) New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 3 World Trade Center Project, Class 1 Series

2014

.000

11/15/44

5,500,020

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

2,000,000

(d) New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 3 World Trade Center Project, Class 2 Series

2014

.150

%

11/15/34

$

2,002,156

13,645,000

(d) New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 3 World Trade Center Project, Class 2 Series

2014

.375

11/15/40

13,647,410

89,870,000

(d) New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 3 World Trade Center Project, Class 3 Series

2014

.250

11/15/44

89,940,827

3,000,000

New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 7 World Trade Center Project, Refunding

Green Series 2022A-CL2

.250

09/15/52

2,201,306

3,835,000

New York State Housing Finance Agency, Affordable Housing

Revenue Bonds, Climate Bond Certified/Sustainability Series

2019P

.150

11/01/54

2,937,144

3,150,000

(f) New York State Mortgage Agency, Homeowner Mortgage

Revenue Bonds, Social Series 250, (UB)

.650

10/01/43

3,170,080

3,150,000

New York State Power Authority, General Revenue Bonds,

Series 2020A

.000

11/15/60

2,790,116

20,000,000

(f) New York State Thruway Authority, General Revenue Junior

Indebtedness Obligations, Series 2019B, (UB)

.000

01/01/53

18,055,846

20,000,000

(f) New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Bidding Group 1 Series 2022A, (UB)

.000

03/15/50

18,499,660

8,500,000

(f) New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Bidding Group 1 Series 2022A, (UB)

.125

03/15/52

7,957,165

38,340,000

(f) New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Climate Certified Green Series 2022C, (UB)

.000

03/15/54

39,282,270

32,340,000

(f) New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Climate Certified Green Series 2022C, (UB)

.125

03/15/56

29,919,209

10,000,000

(f) New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Climate Certified Green Series 2022C, (UB)

.125

03/15/57

9,224,676

15,000,000

(f) New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Series 2025A-3, (UB)

.000

03/15/47

15,745,869

24,635,000

(f) New York State Urban Development Corporation, State

Personal Income Tax Revenue Bonds, General Purpose, Series

2020A, (UB)

.000

03/15/45

22,877,879

10,000,000

(f) New York State Urban Development Corporation, State Sales

Tax Revenue Bonds, Empire Bidding Group 4 Series 2023A,

(UB)

.000

03/15/51

10,345,177

16,025,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/46

15,887,094

19,660,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.250

01/01/50

19,659,119

10,210,000

(f) New York Transportation Development Corporation, New York,

Special Facilities Revenue Bonds, Terminal 6 John F Kennedy

International Airport Redevelopment Project, Senior Green

Series 2024A, (AMT), (UB)

.500

12/31/54

9,634,066

80,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, American Airlines, Inc. John F

Kennedy International Airport Project, Refunding Series 2016,

(AMT)

.000

08/01/26

80,017

6,725,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, American Airlines, Inc. John F

Kennedy International Airport Project, Series 2020, (AMT)

.250

08/01/31

6,982,824

23,205,000

(f) New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport New Terminal 1 Project, Green Series 2024 - AGM

Insured, (AMT), (UB)

.000

06/30/49

23,279,193

51,610,000

(f) New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport New Terminal 1 Project, Green Series 2024 - AGM

Insured, (AMT), (UB)

.250

06/30/60

52,283,057

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

18,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport New Terminal 1 Project, Green Series 2024, (AMT)

.500

%

06/30/60

$

18,175,435

25,000,000

(f) New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport Terminal One Project, Green Series 2025, (AMT), (UB)

.000

06/30/55

27,058,510

15,190,000

(f) New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport Terminal One Project, Green Series 2025, (AMT), (UB)

.500

06/30/59

15,717,986

3,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport Terminal One Project, Green Series 2025, (AMT)

.000

06/30/59

3,178,947

3,485,000

(f) New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023 -

AGM Insured, (AMT), (UB)

.000

06/30/49

3,493,597

18,000,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023,

(AMT)

.000

06/30/54

18,766,528

23,415,000

(f) New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023 -

AGM Insured, (AMT), (UB)

.125

06/30/60

23,438,179

2,500,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2020, (AMT)

.000

10/01/40

2,527,218

8,000,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2020, (AMT)

.375

10/01/45

7,372,430

5,000,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2023, (AMT)

.000

04/01/35

5,499,036

13,570,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2023, (AMT)

.625

04/01/40

14,186,439

8,195,000

(d) Niagara Area Development Corporation, New York, Solid

Waste Disposal Facility Revenue Refunding Bonds, Covanta

Energy Project, Series 2018A, (AMT)

.750

11/01/42

7,463,385

3,010,000

(d) Ogdensburg Bridge and Port Authority, New York, Revenue

Bonds, Series 2017, (AMT)

.750

07/01/47

2,707,416

1,000,000

Oneida Indian Nation, New York, Tax Revenue Bonds, Series

2024B

.000

09/01/43

1,066,173

20,000,000

(f) Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Forty Second Series 2023,

(AMT), (UB)

.000

12/01/53

20,411,406

25,765,000

(f) Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Twenty-One Series 2020, (AMT),

(UB)

.000

07/15/55

22,606,515

9,265,000

(f) Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Twenty-One Series 2020, (AMT),

(UB)

.000

07/15/60

7,995,966

5,745,000

(f) Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Twenty-Third Series 2021,

(AMT), (UB)

.000

07/15/51

5,104,249

21,000,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Series 2021B-2

.000

06/01/66

1,825,261

2,000,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/33

1,533,064

7,205,000

(f) Triborough Bridge and Tunnel Authority, New York, General

Revenue Bonds, MTA Bridges & Tunnels, Series 2020A, (UB)

.000

11/15/49

7,376,897

10,000,000

(f) Triborough Bridge and Tunnel Authority, New York, General

Revenue Bonds, MTA Bridges & Tunnels, Series 2020A, (UB)

.000

11/15/54

10,197,058

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

10,765,000

(f) Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, Senior Lien Green Bonds, Series 2022D-2,

(UB)

.500

%

05/15/52

$

10,770,009

5,110,000

(f) Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, Senior Lien Series 2021C-3, (UB)

.000

05/15/51

4,669,698

34,565,000

(f) Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Senior Lien Bonds, Series 2022C, (UB)

.250

05/15/52

36,138,655

10,000,000

(f) Triborough Bridge and Tunnel Authority, New York, Real Estate

Transfer Tax Revenue Bonds, MTA Bridges and Tunnels, TBTA

Capital Lockbox Fund, Series 2025A, (UB)

.500

12/01/56

9,748,578

10,175,000

(f) Triborough Bridge and Tunnel Authority, New York, Real Estate

Transfer Tax Revenue Bonds, MTA Bridges and Tunnels, TBTA

Capital Lockbox Fund, Series 2025A, (UB)

.500

12/01/59

10,978,658

13,050,000

(f) Triborough Bridge and Tunnel Authority, New York, Sales

Tax Revenue Bonds, MTA Bridges & Tunnels, TBTA Capital

Lockbox-City Sales Tax Series 2023A, (UB)

.125

05/15/53

12,061,345

10,125,000

Triborough Bridge and Tunnel Authority, New York, Sales

Tax Revenue Bonds, MTA Bridges & Tunnels, TBTA Capital

Lockbox-City Sales Tax Series 2023A

.250

05/15/58

9,556,195

60,930,000

(f) Triborough Bridge and Tunnel Authority, New York, Sales

Tax Revenue Bonds, MTA Bridges & Tunnels, TBTA Capital

Lockbox-City Sales Tax Series 2023A, (UB)

.250

05/15/58

57,507,056

20,930,000

(f) Triborough Bridge and Tunnel Authority, New York, Sales

Tax Revenue Bonds, MTA Bridges & Tunnels, TBTA Capital

Lockbox-City Sales Tax Series 2023A, (UB)

.500

05/15/63

20,544,195

9,060,000

(f) Triborough Bridge and Tunnel Authority, New York, Sales

Tax Revenue Bonds, MTA Bridges & Tunnels, TBTA Capital

Lockbox-City Sales Tax, Series 2022A, (UB)

.000

05/15/57

8,098,433

15,000,000

(f) Triborough Bridge and Tunnel Authority, New York, Sales

Tax Revenue Bonds, MTA Bridges & Tunnels, TBTA Capital

Lockbox-City Sales Tax, Series 2024A-1 - BAM Insured, (UB)

.250

05/15/64

15,814,193

10,000,000

TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series

2006

.000

06/01/45

8,790,659

18,790,000

TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series

2006

.000

06/01/48

16,351,062

5,100,000

(d) Westchester County Local Development Corporation, New

York, Revenue Bond, Purchase Senior Learning Community, Inc.

Project, Accd Inv Series 2021A

.000

07/01/36

5,189,061

3,530,000

(d) Westchester County Local Development Corporation, New

York, Revenue Bond, Purchase Senior Learning Community, Inc.

Project, Accd Inv Series 2021A

.000

07/01/41

3,423,481

7,000,000

(d) Westchester County Local Development Corporation, New

York, Revenue Bond, Purchase Senior Learning Community, Inc.

Project, Accd Inv Series 2021A

.000

07/01/56

6,036,719

8,450,000

Westchester County Local Development Corporation, New

York, Revenue Bonds, Westchester Medical Center Obligated

Group Project, Refunding Series 2016

.000

11/01/46

7,598,221

3,750,000

(f) Westchester County Local Development Corporation, New

York, Revenue Bonds, Westchester Medical Center Obligated

Group Project, Series 2023 - AGM Insured, (UB)

.750

11/01/49

4,009,864

3,550,000

(f) Westchester County Local Development Corporation, New

York, Revenue Bonds, Westchester Medical Center Obligated

Group Project, Series 2023 - AGM Insured, (UB)

.000

11/01/51

3,606,340

TOTAL NEW YORK

1,889,014,231

NORTH CAROLINA - 0.2%

5,000,000

(f) Charlotte, North Carolina, Airport Revenue Bonds, Charlotte

Douglas International, Series 2021B, (AMT), (UB)

.000

07/01/51

4,391,523

350,000

(d) Mooresville, North Carolina, Special Assessment Revenue

Bonds, Series 2015

.375

03/01/40

349,989

19,065,000

North Carolina Department of Transportation, Private Activity

Revenue Bonds, I-77 Hot Lanes Project, Series 2015, (AMT)

.000

06/30/54

19,065,692

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NORTH CAROLINA

(continued)

$

6,826,051

Winston-Salem, North Carolina, Multifamily Housing Revenue

Bonds, Rolling Hills Apartments, Series 2016, (Mandatory Put

7/01/34)

.400

%

11/01/56

$

5,951,822

TOTAL NORTH CAROLINA

29,759,026

NORTH DAKOTA - 0.4%

4,585,000

(f) Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2023A -

AGM Insured, (UB)

.000

12/01/48

4,678,886

7,450,000

(f) Grand Forks, North Dakota, Health Care System Revenue

Bonds, Altru Health System Obligated Group, Series 2023A -

AGM Insured, (UB)

.000

12/01/53

7,552,767

2,750,000

Horace, Cass County, North Dakota, General Obligation Bonds,

Refunding Improvement Series 2024C

.000

05/01/50

2,705,296

10,000,000

(f) North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Social Series 2023A, (UB)

.600

07/01/43

10,040,393

4,690,000

(f) North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Social Series 2023D, (UB)

.550

07/01/48

4,628,968

8,870,000

(f) North Dakota Housing Finance Agency, Home Mortgage

Finance Program Bonds, Social Series 2024A, (UB)

.700

07/01/49

8,859,889

5,000,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/48

4,687,629

3,000,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/53

2,754,814

2,022,313

(e) Williston, North Dakota, Multifamily Housing Revenue Bonds,

Eagle Crest Apartments LLC Project, Series 2013

.250

09/01/28

77,050

9,373,783

(e) Williston, North Dakota, Multifamily Housing Revenue Bonds,

Eagle Crest Apartments LLC Project, Series 2013

.750

09/01/38

357,141

TOTAL NORTH DAKOTA

46,342,833

OHIO - 3.1%

2,800,000

Akron, Bath and Copley Joint Township Hospital District, Ohio,

Hospital Facilities Revenue Bonds, Summa Health System,

Refunding & Improvement Series 2016

.250

11/15/41

2,839,392

15,400,000

Akron, Bath and Copley Joint Township Hospital District, Ohio,

Hospital Facilities Revenue Bonds, Summa Health System,

Refunding & Improvement Series 2016

.250

11/15/46

15,598,849

298,890,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Capital Appreciation Series 2020B-3 Class 2

.000

06/01/57

28,032,714

101,370,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020B-2 Class 2

.000

06/01/55

86,647,731

5,185,000

(d) Columbus-Franklin County Finance Authority, Ohio, Revenue

Bonds, Bridge Park G Block Project, Public Infrastructure Series

2022

.000

12/01/53

4,999,049

1,500,000

Columbus-Franklin County Finance Authority, Ohio, Tax

Increment Financing Revenue Bonds, Bridge Park D Block

Project, Series 2019A-1

.000

12/01/51

1,458,823

12,450,000

County of Lucas, Ohio, Hospital Revenue Bonds, ProMedica

Healthcare Obligated Group, Series 2018A

.250

11/15/48

12,310,732

1,500,000

Cuyahoga County, Ohio, Hospital Revenue Bonds, MetroHealth

System, Series 2017

.250

02/15/47

1,471,918

4,275,000

Evans Farm New Communty Authority, Ohio, Community

Development Charge Revenue Bonds, Evans Farm Mixed-Use

Project, Series 2020

.000

12/01/46

3,360,172

14,500,000

(f) Franklin County, Ohio, Hospital Facilities Revenue Bonds,

OhioHealth Corporation, Series 2015, (UB)

.125

05/15/45

13,786,764

17,540,000

(f) Franklin County, Ohio, Hospital Facilities Revenue Bonds,

OhioHealth Corporation, Series 2018A, (UB)

.000

05/15/47

16,234,331

500,000

Greater Cincinnati Port Development Authority, Ohio, Tax

Increment Revenue Bonds, RBM Phase 3 Garage Project Series

2024

.125

12/01/55

475,802

33,880,000

(f) Hamilton County, Ohio, Hospital Facilities Revenue Bonds,

TriHealth, Inc. Obligated Group Project, Series 2017A, (UB)

.000

08/15/42

34,087,884

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

5,265,000

Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2020

.000

%

09/15/50

$

5,111,899

2,200,000

Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2025A

.500

08/01/51

2,223,034

2,000,000

Hardin County, Ohio Economic Development Facility Revenue

Bonds, Ohio Northern University, Refunding & Improvement

Series 2020

.500

05/01/50

1,761,227

2,805,000

Jeffrey Place New Community Authority, Ohio, Jeffrey Place

Redevelopment Bonds, Series 2007A

.000

12/01/32

2,766,979

5,695,000

Jeffrey Place New Community Authority, Ohio, Jeffrey Place

Redevelopment Bonds, Series 2014A

.250

12/01/33

5,698,539

4,385,000

(d) Lorain County Port Authority, Ohio, Tax Increment Revenue

Bonds, North Ridgeville- Riddell Public Improvement Project,

Series 2017

.750

12/01/41

4,135,950

39,210,000

(d) Ohio Air Quality Development Authority, Ohio, Exempt

Facilities Revenue Bonds, AMG Vanadium Project, Series 2019,

(AMT)

.000

07/01/49

35,932,224

3,900,000

(d) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Ashford At The Enclave Project, Series 2025A

.500

01/01/45

3,948,764

2,470,000

(d) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Silver Birch of Canton, Series 2025

.250

01/01/45

2,499,398

2,090,000

(d) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Silver Birch of Cuyahoga Falls, Series 2025A

.250

01/01/45

2,114,875

2,000,000

(d) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Silver Birch of Mansfield Project, Series 2024

.000

01/01/45

1,968,267

3,390,000

(f) Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2023B, (UB)

.900

09/01/48

3,469,266

3,845,000

(f) Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2023B, (UB)

.950

09/01/54

3,909,446

4,340,000

(f) Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A, (UB)

.550

09/01/49

4,323,134

13,640,000

(f) Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A, (UB)

.650

09/01/54

13,506,211

1,000,000

Ohio State, Private Activity Bonds, Portsmouth Gateway Group,

LLC - Borrower, Portsmouth Bypass Project, Series 2015, (AMT)

.000

12/31/39

999,597

6,530,000

Ohio State, Private Activity Bonds, Portsmouth Gateway Group,

LLC - Borrower, Portsmouth Bypass Project, Series 2015, (AMT)

.000

06/30/53

6,394,900

13,345,000

(f) Port of Greater Cincinnati Development Authority, Ohio, Duke

Energy Convention Center Project, TOT First Subordinate

Development Revenue Bonds, Refunding Series 2024B, (UB)

.000

12/01/53

13,622,049

1,000,000

Port of Greater Cincinnati Development Authority, Ohio, Duke

Energy Convention Center Project, TOT Second Subordinate

Development Revenue Bonds, Refunding Series 2024C - AGM

Insured

.250

12/01/58

1,032,729

1,300,000

Port of Greater Cincinnati Development Authority, Ohio, Duke

Energy Convention Center Project, TOT Second Subordinate

Development Revenue Bonds, Refunding Series 2024C - AGM

Insured

.250

12/01/63

1,342,548

2,200,000

(d) Port of Greater Cincinnati Development Authority, Ohio,

Multifamily Housing Revenue Bonds, Vivera Northbrook

Project, Series 2025A

.500

01/01/45

2,250,611

16,735,000

Port of Greater Cincinnati Development Authority, Ohio,

Special Obligation Development TIF Revenue Bonds, RBM

Development - Phase 2B Project, Series 2018A

.000

12/01/50

16,741,473

25,585,000

Tuscarawas County Economic Development and Finance

Alliance, Ohio, Higher Education Facilities Revenue Bonds,

Ashland University, Refunding & Improvement Series 2015

.000

03/01/45

24,597,245

22,870,000

Washington County, Ohio, Hospital Facilities Revenue Bonds,

Memorial Health System Obligated Group, Series 2022

.750

12/01/52

23,623,601

TOTAL OHIO

405,278,127

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OKLAHOMA - 0.5%

$

1,500,000

Mannford Public Works Authority, Oklahoma, Revenue Bonds,

Capital Improvement Series 2021

.250

%

01/01/51

$

1,005,896

5,235,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.500

08/15/52

5,253,620

3,000,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.500

08/15/57

3,006,627

2,910,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Taxable Series 2022

.500

08/15/37

3,034,294

10,000,000

(f) Oklahoma Water Resources Board, Oklahoma, State Loan

Program Revenue Bonds, Series 2023B, (UB)

.125

10/01/53

9,149,116

4,665,000

Osage County Industrial Authority, Oklahoma, Sales and Use

Tax Revenue Bonds, Refunding Series 2023

.750

09/01/53

4,587,049

2,828,235

(e) Payne County Economic Development Authority, Oklahoma,

Revenue Bonds, Epworth Living at the Ranch, Series 2016A

.875

11/01/46

11,878

4,149,188

(e) Payne County Economic Development Authority, Oklahoma,

Revenue Bonds, Epworth Living at the Ranch, Series 2016A

.000

11/01/51

17,427

9,525,000

Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,

American Airlines Inc., Refunding Series 2000B, (AMT)

.500

06/01/35

9,527,392

2,850,000

Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,

American Airlines Inc., Refunding Series 2001A, (AMT)

.500

12/01/35

2,850,716

10,705,000

Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,

American Airlines Inc., Refunding Series 2001B, (AMT)

.500

12/01/35

10,707,688

10,000,000

Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,

American Airlines Inc., Series 2025, (AMT)

.250

12/01/35

11,445,993

3,000,000

Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,

American Airlines Inc., Series 2025, (AMT)

.250

12/01/40

3,338,818

TOTAL OKLAHOMA

63,936,514

OREGON - 0.2%

10,000,000

(f) Medford Hospital Facilities Authority, Oregon, Hospital

Revenue Bonds, Asante Health System, Refunding Series

2020A - AGM Insured, (UB)

.000

08/15/45

9,185,420

815,000

(d) Oregon Facilities Authority, Revenue Bonds, Howard Street

Charter School Project, Series 2019A

.250

06/15/55

726,492

670,000

(d) Oregon Facilities Authority, Revenue Bonds, Metro East Web

Academy Project, Series 2019A

.000

06/15/39

637,319

2,410,000

(d) Oregon State Facilities Authority, Oregon, Charter School

Revenue Bonds, Academy for Character Education, Series

2022A

.000

06/15/52

2,418,736

225,000

(d) Oregon State Facilities Authority, Oregon, Charter School

Revenue Bonds, Academy for Character Education, Series

2022B

.000

06/15/29

229,324

3,125,000

Polk County Hospital Facility Authority, Oregon, Revenue

Bonds, Dallas Retirement Village Project, Series 2015A

.375

07/01/45

3,000,559

10,000,000

(f) Port of Portland, Oregon, International Airport Revenue Bonds,

Series 2022-28, (AMT), (UB)

.000

07/01/52

10,077,792

2,480,000

Port of Saint Helens, Oregon, Pollution Control Revenue Bonds,

Boise Cascade Project, Series 1997

.650

12/01/27

2,483,612

TOTAL OREGON

28,759,254

PENNSYLVANIA - 2.6%

12,905,000

Allegheny Country Industrial Development Authority,

Pennsylvania, Environmental Improvement Revenue Bonds,

United States Steel Corporation Project, Series 2012, (AMT)

.750

08/01/42

12,908,595

5,300,000

(f) Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2021A,

(AMT), (UB)

.000

01/01/51

5,306,727

1,000,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2021A

- AGM Insured, (AMT)

.000

01/01/56

852,681

5,000,000

(f) Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2021A,

(AMT), (UB)

.000

01/01/56

4,973,908

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

5,690,000

(f) Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2025A,

(AMT), (UB)

.500

%

01/01/50

$

6,050,084

8,000,000

(f) Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2025A,

(AMT), (UB)

.500

01/01/55

8,466,848

2,670,000

Allegheny County Industrial Development Authority,

Pennsylvania, , Charter School Revenue Bonds, Propel Charter

School-Sunrise, Series 2013

.000

07/15/38

2,672,669

4,000,000

(d) Allentown Commercial and Industrial Development Authority,

Pennsylvania, Revenue Bonds, Arts Academy Charter Middle

School Foundation Project, Series 2022A

.000

06/15/57

3,321,251

5,235,000

(d) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, 615 Waterfront

Project, Senior Series 2021

.000

05/01/42

5,422,251

2,100,000

(d) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, City Center

Project, Series 2018

.000

05/01/42

2,100,845

2,000,000

(d) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, City Center

Project, Series 2025

.000

05/01/42

2,113,052

2,450,000

Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, Waterfront-30 E

Allen Street Project, Subordinate Series 2024B

.000

05/01/42

2,436,777

9,200,000

Beaver County Industrial Development Authority, Pennsylvania,

Pollution Control Revenue Refunding Bonds, FirstEnergy

Generation Project, Series 2008B

.750

10/01/47

7,592,075

1,279,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-2

.000

06/30/34

1,338,230

17,147,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-3

.000

06/30/39

15,525,629

8,569,000

(g) Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024B-1

.000

06/30/44

6,064,653

12,565,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Taxable Series 2024B-2

.000

06/30/44

7,207,045

8,160,000

Central Bradford Progress Authority, Pennsylvania, Revenue

Bonds, Guthrie Health, Series 2021B - BAM Insured

.000

12/01/44

6,826,665

6,305,000

(f) Central Bradford Progress Authority, Pennsylvania, Revenue

Bonds, Guthrie Health, Series 2021B - BAM Insured, (UB)

.000

12/01/51

5,858,687

705,000

Chester County Health and Education Facilities Authority,

Pennsylvania, Revenue Bonds, Simpson Senior Services Project,

Series 2015A

.000

12/01/30

661,945

680,000

Chester County Health and Education Facilities Authority,

Pennsylvania, Revenue Bonds, Simpson Senior Services Project,

Series 2015A

.000

12/01/35

609,353

1,400,000

Chester County Health and Education Facilities Authority,

Pennsylvania, Revenue Bonds, Simpson Senior Services Project,

Series 2015A

.250

12/01/45

1,159,589

1,000,000

(d) Chester County Industrial Development Authority,

Pennsylvania, Revenue Bonds, Collegium Charter School

Project, Series 2022

.000

10/15/52

982,571

318,000

(d) Chester County Industrial Development Authority,

Pennsylvania, Special Obligation Bonds, Woodlands at

Greystone Project, Series 2018

.000

03/01/38

315,611

970,000

(d) Chester County Industrial Development Authority,

Pennsylvania, Special Obligation Bonds, Woodlands at

Greystone Project, Series 2018

.125

03/01/48

906,941

3,000,000

(d) Dauphin County General Authority, Pennsylvania, Revenue

Bonds, Harrisburg University of Science & Technology Project,

Series 2020

.250

10/15/53

2,171,020

3,000,000

(f) Dubois Hospital Authority, Pennsylvania, Hospital Revenue

Bonds, Penn Highlands Healthcare, Series 2018, (UB)

.000

07/15/43

2,357,071

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

8,455,000

(f) Geisinger Authority, Montour County, Pennsylvania, Health

System Revenue Bonds, Geisinger Health System, Series

2014A, (UB)

.000

%

06/01/41

$

8,015,512

5,000,000

(f) Geisinger Authority, Montour County, Pennsylvania, Health

System Revenue Bonds, Geisinger Health System, Series

2017A-1, (UB)

.000

02/15/45

5,038,595

11,000,000

(f) Geisinger Authority, Montour County, Pennsylvania, Health

System Revenue Bonds, Geisinger Health System, Series

2020A, (UB)

.000

04/01/50

11,073,028

11,575,000

(d) Lehigh County Industrial Development Authority, Pennsylvania,

Revenue Bonds, Provident Group -Lehigh Valley International

Airport Hotel Project First Tier Series 2025A-2

.750

01/01/65

11,066,324

1,075,000

(d) Lehigh County Industrial Development Authority, Pennsylvania,

Revenue Bonds, Provident Group -Lehigh Valley International

Airport Hotel Project Second Tier Series 2025C

.750

01/01/65

1,031,664

1,600,000

(d) Lehigh County Industrial Development Authority, Pennsylvania,

Revenue Bonds, Provident Group -Lehigh Valley International

Airport Hotel Project Taxable First Tier Series 2025A-1

.000

01/01/44

1,587,914

6,340,000

(d) Lehigh County Industrial Development Authority, Pennsylvania,

Revenue Bonds, Provident Group -Lehigh Valley International

Airport Hotel Project Third Tier Series 2025C

.500

01/01/67

6,119,614

5,000,000

(f) Montgomery County Higher Education and Health Authority,

Pennsylvania, Revenue Bonds, Thomas Jefferson University,

Series 2018A, (UB)

.000

09/01/48

5,019,671

8,405,000

(f) Montgomery County Higher Education and Health Authority,

Pennsylvania, Revenue Bonds, Thomas Jefferson University,

Series 2022B - AGM Insured

.000

05/01/52

7,207,493

1,000,000

Montgomery County Redevelopment Authority, Pennsylvania,

Special Obligation Revenue Bonds, River Pointe Project Series

2023

.500

09/01/43

1,006,827

1,071,352

(e) Northampton County Industrial Development Authority,

Pennsylvania, Recovery Revenue Bonds, Northampton

Generating Project, Senior Lien Series 2013A0 & AE2

.200

06/30/27

471,395

590,116

(e) Northampton County Industrial Development Authority,

Pennsylvania, Recovery Revenue Bonds, Northampton

Generating Project, Senior Lien Taxable Series 2013B, (cash

5.000%, PIK 5.000%)

.900

06/30/27

106,221

30,690,000

(c),(d),(e)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2020A-1

.000

12/01/40

3,069

30,690,000

(c),(d),(e)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2020A-2, (AMT)

.000

12/01/40

3,069

29,220,000

(c),(e)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2021A

.000

12/01/31

2,922

17,565,000

(c),(d),(e)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Taxable Series 2020B-2

.000

12/01/29

1,757

1,700,000

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, PPL Energy Supply, LLC

Project, Refunding Series 2009B, (Mandatory Put 6/01/27)

.250

12/01/38

1,711,756

3,925,000

Pennsylvania Economic Development Financing Authority,

Pennsylvania, Private Activity Revenue Bonds, The PennDOT

Major Bridges Package One Project, Series 2022, (AMT)

.250

06/30/53

3,945,122

12,885,000

(f) Pennsylvania Economic Development Financing Authority,

Pennsylvania, Private Activity Revenue Bonds, The PennDOT

Major Bridges Package One Project, Series 2022 - AGM

Insured, (AMT), (UB)

.000

12/31/57

12,982,731

4,900,000

(d) Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Core Natural Resources

Inc., Project, Series 2025, (AMT), (Mandatory Put 3/27/35)

.450

01/01/51

5,110,409

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

5,000,000

(d) Pennsylvania Economic Development Financing Authority,

Solid Waste Disposal Revenue Bonds, Covanta Project, Green

Series 2019A, (AMT)

.250

%

08/01/39

$

4,005,745

2,765,000

Pennsylvania Higher Educational Facilities Authority, Revenue

Bonds, LaSalle University, Series 2012

.000

05/01/42

1,938,985

10,000,000

(f) Pennsylvania Higher Educational Facilities Authority, Revenue

Bonds, Thomas Jefferson University, Series 2024B-2, (UB)

.375

11/01/54

8,998,957

15,000,000

(f) Pennsylvania Higher Educational Facilities Authority, Revenue

Bonds, University of Pennsylvania Trustees, Series 2025A, (UB)

.250

02/15/55

14,197,098

5,000,000

(f) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2023-142A, (UB)

.000

10/01/43

5,137,895

17,335,000

(f) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2023-142A, (UB)

.000

10/01/50

17,447,482

25,000,000

(f) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-144A, (UB)

.600

10/01/49

24,611,855

6,440,000

(f) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-144A, (UB)

.650

10/01/51

6,343,897

10,000,000

(f) Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Series 2025A, (UB)

.250

12/01/55

10,611,610

75,000

Philadelphia Authority for Industrial Development Senior Living

Facilities, Philadelphia, Pennsylvania, Revenue Bonds, Wesley

Enhanced Living Obligated Group, Series 2017A

.000

07/01/42

71,206

2,590,000

Philadelphia Authority for Industrial Development Senior Living

Facilities, Philadelphia, Pennsylvania, Revenue Bonds, Wesley

Enhanced Living Obligated Group, Series 2017A

.000

07/01/49

2,299,232

679,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Multifamily Housing Revenue Bonds,

Presbyterian Homes Germantown - Morrisville Project, Series

2005A

.625

07/01/35

692,875

11,855,000

(d) Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Mariana Bracetti Academy

Project, Series 2020A

.375

06/15/50

10,904,914

835,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Richard Allen Preparatory

Charter School, Series 2006

.250

05/01/33

835,354

300,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Southwest Leadership Academy,

Series 2017

.470

11/01/37

265,897

4,785,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Southwest Leadership Academy,

Series 2017

.600

11/01/47

3,942,267

875,000

Quakertown General Authority Health Facilities Revenue USDA

Loan Anticipation Notes and Revenue Bonds for LifeQuest

Obligated Group, Pennsylvania, Series 2017C

.300

07/01/42

765,938

32,385,000

(f) Southcentral Pennsylvania General Authority, Revenue Bonds,

Wellspan Health Obligated Group, Series 2019A, (UB)

.000

06/01/49

28,684,162

6,800,000

(d) Southcentral Pennsylvania General Authority, Revenue Bonds,

York Academy Regional Charter School Project, Series 2018A

.000

07/15/38

6,905,839

TOTAL PENNSYLVANIA

346,369,074

PUERTO RICO - 8.6%

59,000,000

Children's Trust Fund, Puerto Rico, Tobacco Settlement Asset-

Backed Bonds, Series 2005A

.000

05/15/50

11,925,853

40,000,000

Children's Trust Fund, Puerto Rico, Tobacco Settlement Asset-

Backed Bonds, Series 2008A

.000

05/15/57

1,851,180

215,000,000

Children's Trust Fund, Puerto Rico, Tobacco Settlement Asset-

Backed Bonds, Series 2008B

.000

05/15/57

6,304,123

736,363

PRHTA SR LIEN SER N (2039) CUSTODIAL TR Puerto Rico

Highway and Transportation Authority, Highway Revenue

Bonds, Series 2007N

.993

12/06/49

398,366

4,900,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Forward Delivery Series 2022A

.000

07/01/42

4,402,799

5,965,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Forward Delivery Series 2022A

.000

07/01/47

5,031,587

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PUERTO RICO

(continued)

$

23,280,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2020A

.000

%

07/01/47

$

22,704,227

12,165,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021A

.000

07/01/42

10,956,451

16,525,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/42

14,900,883

39,855,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/47

33,618,422

102,725,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Federally Taxable Build America Bonds, Series 2010YY

.125

07/01/40

61,214,131

1,465,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding National Series 2007VV

.500

01/01/26

876,746

30,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding Series 2010DDD

.000

01/01/26

18,392

2,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding Series 2012A

.957

07/01/42

1,218

3,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding Series 2012A

.961

07/01/42

1,811

5,845,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2003NN

.500

01/01/26

3,508,162

7,260,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2007TT

.000

01/01/26

4,360,707

2,040,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2007TT

.000

01/01/26

1,252,527

5,165,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2007TT

.000

01/01/26

3,106,411

250,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2007TT

.000

01/01/26

155,311

11,270,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

01/01/26

7,049,395

15,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

01/01/26

9,614

630,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/27

381,807

3,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/28

1,831

2,735,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/29

1,672,658

5,770,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/30

3,697,986

3,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/31

1,806

4,475,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/31

2,693,621

1,510,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010CCC

.250

01/01/26

923,846

280,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010CCC

.000

01/01/26

168,348

185,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010CCC

.000

01/01/26

111,551

4,840,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010CCC

.250

07/01/26

2,997,302

23,345,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010CCC

.250

07/01/27

14,664,015

1,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010CCC

.645

07/01/28

598

400,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010XX

.250

07/01/27

247,000

5,525,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010XX

.750

07/01/36

3,520,514

60,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.250

01/01/26

38,264

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PUERTO RICO

(continued)

$

475,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.000

%

01/01/26

$

285,274

135,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.000

01/01/26

81,144

125,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.000

01/01/26

75,133

1,150,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.250

01/01/26

693,546

590,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.250

01/01/26

355,577

5,690,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.250

01/01/26

3,612,127

6,535,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.250

01/01/26

4,023,613

205,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.000

07/01/26

123,238

250,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.000

07/01/26

152,606

25,760,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.250

07/01/26

15,842,125

255,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.000

07/01/28

156,097

2,840,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2013A

.800

07/01/29

1,731,260

17,685,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2013A

.000

07/01/29

11,138,587

3,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2013A

.102

07/01/36

1,792

1,000,000

(e) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2016D-4-RSA-1

.500

01/01/26

565,055

910,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/25

555,221

1,065,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/26

651,668

90,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/26

58,598

2,290,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/27

1,384,977

21,440,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/32

13,196,404

43,235,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/37

26,539,408

1,865,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.250

07/01/25

1,120,634

2,915,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.375

01/01/26

1,833,614

4,245,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.375

01/01/26

2,636,695

550,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.375

01/01/26

331,252

2,895,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.500

01/01/26

1,722,514

105,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.500

07/01/26

62,285

3,735,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.000

07/01/28

2,274,603

16,605,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.250

07/01/33

10,129,901

30,910,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.500

07/01/38

18,597,361

3,420,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010AAA

.250

01/01/26

2,063,755

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PUERTO RICO

(continued)

$

2,800,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010AAA

.250

%

07/01/26

$

1,765,104

2,000,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.625

07/01/25

1,210,637

890,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.000

07/01/25

546,903

30,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.750

07/01/26

18,205

3,225,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.000

07/01/26

1,940,310

365,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.000

07/01/27

224,011

2,220,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.000

07/01/28

1,413,510

1,960,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010XX

.625

07/01/25

1,185,047

215,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010XX

.750

07/01/26

130,886

3,060,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010XX

.250

07/01/26

1,926,591

405,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010XX

.875

07/01/27

247,897

6,460,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010XX

.250

07/01/35

3,918,909

83,005,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010XX

.250

07/01/40

50,932,363

21,705,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010ZZ

.250

07/01/25

13,029,492

1,620,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010ZZ

.250

01/01/26

967,071

235,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.250

07/01/30

149,746

9,220,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.000

07/01/33

5,384,129

18,645,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.750

07/01/36

11,135,440

5,820,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.000

07/01/40

3,435,457

53,395,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.000

07/01/42

32,510,657

19,715,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.000

07/01/43

11,703,453

5,400,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Taxable

Series 2010EEE

.950

07/01/30

3,249,606

75,300,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Taxable

Series 2010EEE

.050

07/01/32

44,722,888

34,730,000

(e) Puerto Rico Electric Power Authority, Revenue Bonds, Taxable

Series 2010EEE

.250

07/01/40

20,509,038

2,592,109

Puerto Rico Highway and Transportation Authority Highway

Revenue Bonds Series 2022

.250

07/01/38

2,592,703

224,212,091

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/46

76,564,752

241,918,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/51

60,853,820

1,500,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.750

07/01/53

1,411,746

106,002,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/58

102,460,802

50,220,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured Cofina Project Series 2018B-1

.000

07/01/51

12,632,705

4,353,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.536

07/01/53

3,930,442

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PUERTO RICO

(continued)

$

42,566,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.784

%

07/01/58

$

39,581,494

19,155,750

Puerto Rico, General Obligation Bonds, Clawback Highway

Transportation Authority Claims Taxable Series 2022

.000

11/01/51

12,954,076

37,000,228

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

26,470,918

21,416,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/37

20,344,388

13,421,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/41

12,031,639

87,721,195

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/46

75,815,473

138,402,531

Puerto Rico, General Obligation Bonds, Vintage CW NT Claims

Taxable Series 2022

.000

11/01/43

91,691,677

13,162,766

Puerto Rico, General Obligation Bonds, Vintage CW NT Claims

Taxable Series 2022

.000

11/01/51

7,798,939

2,105,000

University of Puerto Rico, University System Revenue Bonds,

Refunding Series 2006P

.000

06/01/26

2,099,451

8,875,000

University of Puerto Rico, University System Revenue Bonds,

Refunding Series 2006P

.000

06/01/30

8,771,305

3,345,000

University of Puerto Rico, University System Revenue Bonds,

Series 2006Q

.000

06/01/26

3,336,182

7,203,000

University of Puerto Rico, University System Revenue Bonds,

Series 2006Q

.000

06/01/30

7,118,841

4,882,000

University of Puerto Rico, University System Revenue Bonds,

Series 2006Q

.000

06/01/36

4,792,244

TOTAL PUERTO RICO

1,132,276,474

RHODE ISLAND - 0.2%

2,100,000

Rhode Island Health and Educational Building Corporation,

Hospital Financing Revenue Bonds, Lifespan Obligated Group

Issue Series 2024

.250

05/15/54

2,121,183

178,805,000

Rhode Island Tobacco Settlement Financing Corporation,

Tobacco Settlement Asset-Backed Bonds, Series 2007A

.000

06/01/52

25,422,352

TOTAL RHODE ISLAND

27,543,535

SOUTH CAROLINA - 1.3%

2,000,000

(d),(i)

Goose Creek, South Carolina, Assessment Revenue Bonds,

Carnes Crossroads Improvement District, Series 2025

.500

10/01/55

1,975,888

90,000

(d) Hardeeville, South Carolina, Special Assessment Revenue

Bonds, East Argent Improvement District, Series 2021

.875

05/01/41

73,602

150,000

(d) Hardeeville, South Carolina, Special Assessment Revenue

Bonds, East Argent Improvement District, Series 2021

.000

05/01/52

111,382

2,735,000

(d) Lancaster County, South Carolina, Assessment Revenue Bonds,

Walnut Creek Improvement District, Series 2016A-2

.750

12/01/46

2,448,081

5,960,000

Lancaster County, South Carolina, Special Assessment Bonds,

Edgewater II Improvement District, Capital Appreciation Series

2007-A&B

.000

11/01/39

1,533,200

18,985,000

Lancaster County, South Carolina, Special Assessment Bonds,

Edgewater II Improvement District, Capital Appreciation Series

2007-A&B

.000

11/01/39

5,760,641

19,375,000

(f) Patriots Energy Group Financing Agency, South Carolina,

Gas Supply Revenue Bonds, Series 2023B-1, (Mandatory Put

3/01/31), (UB)

.250

02/01/54

21,155,857

1,870,000

(d) South Carolina Jobs-Economic Development Authority,

Economic Development Revenue Bonds, Midland Valley

Preparatory School Project, Series 2014

.750

11/15/45

1,913,148

5,000,000

(d) South Carolina Jobs-Economic Development Authority,

Economic Development Revenue Bonds, Palmera Apartments

Project, Series 2025A

.750

12/01/60

5,245,439

4,000,000

(d) South Carolina Jobs-Economic Development Authority,

Economic Development Revenue Bonds, Palmetto Scholars

Academy Project, Series 2015A

.250

08/15/46

3,588,148

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SOUTH CAROLINA

(continued)

$

20,980,000

South Carolina Jobs-Economic Development Authority,

Economic Development Revenue Bonds, Patriots Place

Apartments Project, Series 2022A-1

.750

%

06/01/52

$

15,290,316

1,000,000

South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Columbia College,

Refunding Series 2020A

.750

10/01/45

915,220

5,870,000

(d) South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, High Point Academy

Project, Series 2018A

.750

06/15/49

5,135,229

5,775,000

(d) South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Horse Creek Academy

Project, Series 2021A

.000

11/15/55

4,950,614

4,235,000

South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Mountain View

Preparatory Project, Series 2025A

.125

06/01/60

4,262,038

1,905,000

South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Riverwalk Academy

Project Series 2023A

.125

06/15/53

1,924,376

1,830,000

(d) South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Virtus Academy Project,

Series 2021A

.000

06/15/51

1,406,027

1,585,000

(d) South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Virtus Academy Project,

Series 2023A

.000

06/15/53

1,586,993

1,020,000

(d) South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Virtus Academy Project,

Series 2023A

.125

06/15/58

1,026,082

750,000

South Carolina Jobs-Economic Development Authority, Health

Facilities Revenue Bonds, Lutheran Homes of South Carolina

Inc., Series 2013

.000

05/01/43

634,824

1,255,000

South Carolina Jobs-Economic Development Authority, Health

Facilities Revenue Bonds, Lutheran Homes of South Carolina

Inc., Series 2013

.125

05/01/48

1,041,286

1,500,000

South Carolina Jobs-Economic Development Authority,

Healthcare Revenue Bonds, Beaufort Memorial Hospital &

South of Broad Healthcare Project, Series 2024

.750

11/15/54

1,541,339

10,000,000

(f) South Carolina Jobs-Economic Development Authority,

Hospital Revenue Bonds, AnMed Health Project, Series 2023,

(UB)

.250

02/01/53

10,485,232

12,855,000

(f) South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2016B, (UB)

.000

12/01/56

12,885,407

16,000,000

(f) South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2022A, (UB)

.000

12/01/47

14,348,701

13,020,000

(f) South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2022A - BAM Insured,

(UB)

.000

12/01/52

11,810,787

23,265,000

(f) South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2022B - BAM Insured,

(UB)

.000

12/01/55

20,882,550

10,000,000

(f) South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2024B, (UB)

.000

12/01/49

10,395,492

7,055,000

Walnut Creek Improvement District, Lancaster County, South

Carolina, Assessment Revenue Bonds, Series 2016A-2

.750

12/01/42

6,563,877

2,775,000

Walnut Creek Improvement District, Lancaster County, South

Carolina, Assessment Revenue Bonds, Series 2016A-3

.330

12/01/41

2,601,379

TOTAL SOUTH CAROLINA

173,493,155

SOUTH DAKOTA - 0.1%

6,040,000

(d) Lower Brule Sioux Tribe, South Dakota, Tribal Purpose

Refunding Bonds, Series 2014C

.000

03/01/32

4,913,953

5,630,000

South Dakota Health and Educational Facilities Authority,

Revenue Bonds, Monument Health, Inc., Series 2020A

.000

09/01/50

5,165,685

TOTAL SOUTH DAKOTA

10,079,638

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TENNESSEE - 1.1%

$

815,000

(d) Bristol Industrial Development Board, Tennessee, State Sales

Tax Revenue Bonds, Pinnacle Project, Capital Appreciation

Series 2016B

.000

%

12/01/25

$

808,342

845,000

(d) Bristol Industrial Development Board, Tennessee, State Sales

Tax Revenue Bonds, Pinnacle Project, Capital Appreciation

Series 2016B

.000

12/01/26

796,891

1,665,000

(d) Bristol Industrial Development Board, Tennessee, State Sales

Tax Revenue Bonds, Pinnacle Project, Capital Appreciation

Series 2016B

.000

12/01/31

1,186,100

2,550,000

(d) Bristol Industrial Development Board, Tennessee, State Sales

Tax Revenue Bonds, Pinnacle Project, Series 2016A

.125

12/01/42

2,398,558

13,000,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Health System Revenue Bonds, Erlanger Health

Series 2024

.250

12/01/54

13,424,189

35,500,000

(f) Greeneville Health and Educational Facilities Board, Tennessee,

Hospital Revenue Bonds, Ballad Health, Series 2018A, (UB)

.000

07/01/40

34,370,418

2,000,000

(f) Knox County Health, Educational, and Housing Facilities

Board, Revenue Bonds, Provident Group - UTK Properties

LLC - University of Tennessee Project, Student Housing Series

2024A-1 - BAM Insured, (UB)

.500

07/01/59

2,097,039

4,000,000

(f) Knox County Health, Educational, and Housing Facilities

Board, Revenue Bonds, Provident Group - UTK Properties

LLC - University of Tennessee Project, Student Housing Series

2024A-1 - BAM Insured, (UB)

.000

07/01/64

4,042,387

4,485,000

(e) Memphis Health, Educational and Housing Facilities Board,

Tennessee, Multifamily Housing Revenue Bonds, Serenity

Towers Apartments, Series 2014A

.875

03/01/44

1,799,606

4,405,000

(e) Memphis/Shelby County Economic Development Growth

Engine Industrial Development Board, Tennessee, Tax

Increment Revenue Bonds, Graceland Project, Senior Series

2017A

.500

07/01/37

3,298,618

5,150,000

(e) Memphis/Shelby County Economic Development Growth

Engine Industrial Development Board, Tennessee, Tax

Increment Revenue Bonds, Graceland Project, Senior Series

2017A

.625

01/01/46

3,496,568

11,300,000

(f) Metropolitan Government of Nashville and Davidson County

Sports Authority, Tennessee, Revenue Bonds, Stadium Project,

Subordinate Senior Series 2023A - AGM Insured, (UB)

.250

07/01/56

11,748,913

8,250,000

(f) Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Belmont University, Series 2023, (UB)

.250

05/01/53

8,457,779

5,000,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Lipscomb University, Refunding & Improvement Series

2016A

.000

10/01/45

4,754,745

3,975,000

(d) Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Rocketship Education Project, Series 2017E

.250

06/01/47

3,680,264

3,250,000

(d) Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Rocketship Education Project, Series 2017E

.375

06/01/52

2,985,875

8,415,000

(f) Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University Medical Center, Series 2016A,

(UB)

.000

07/01/46

8,425,315

8,500,000

(f) Metropolitan Nashville Airport Authority, Tennessee, Airport

Improvement Revenue Bonds, Series 2022B, (AMT), (UB)

.250

07/01/47

8,768,005

4,000,000

(f) Metropolitan Nashville Airport Authority, Tennessee, Airport

Improvement Revenue Bonds, Series 2022B, (AMT), (UB)

.000

07/01/52

4,042,584

8,625,000

Metropolitan Nashville Airport Authority, Tennessee, Airport

Revenue Bonds, Subordinate Series 2019B, (AMT)

.000

07/01/54

8,652,155

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TENNESSEE

(continued)

$

1,710,000

(d) Shelby County Health, Educational, Housing, and Facility

Board, Tennessee, Student Housing Revenue Bonds, Madrone

Memphis Student Housing, I LLC - University of Memphis

Project Series 2024A-1

.250

%

06/01/56

$

1,602,873

5,000,000

Tennessee Housing Development Agency, Residential Finance

Program Bonds, Social Series 2023-3A

.350

07/01/48

5,201,042

1,500,000

(f) Tennessee Housing Development Agency, Residential Finance

Program Bonds, Social Series 2024-1A, (UB)

.700

07/01/49

1,498,290

1,155,000

(f) Tennessee Housing Development Agency, Residential Finance

Program Bonds, Social Series 2024-1A, (UB)

.800

07/01/54

1,166,684

7,400,000

(f) Tennessee Housing Development Agency, Residential Finance

Program Bonds, Tender Option Bond Trust Series 2023-

XL0448, (UB)

.550

07/01/48

7,303,701

4,000,000

(f) Tennessee Housing Development Agency, Residential Finance

Program Bonds, Tender Option Bond Trust Series 2023-

XL0448, (UB)

.700

07/01/53

4,017,484

TOTAL TENNESSEE

150,024,425

TEXAS - 10.4%

7,750,000

(f) Allen Independent School District, Collin County, Texas,

General Obligation Bonds, School Building Series 2025, (UB)

.375

02/15/50

7,566,181

4,000,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Hurricane

Creek Public Improvement District Area 1 Project, Series 2019

.500

09/01/48

4,083,681

1,500,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Hurricane

Creek Public Improvement District Area 2 Project, Series 2022

.000

09/01/52

1,505,697

3,000,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Hurricane

Creek Public Improvement District Major Improvement Area

Project, Series 2019

.750

09/01/48

3,074,975

1,000,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Meadow

Vista Public Improvement District Area 1 Project, Series 2024

.750

09/15/54

995,404

200,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Sherley Tract

Public Improvement District 2 Major Improvement Area Project,

Series 2021

.500

09/15/31

202,455

525,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Sherley Tract

Public Improvement District 2 Major Improvement Area Project,

Series 2021

.000

09/15/51

486,221

1,191,000

(d) Anna, Texas, Special Assessment Revenue Bonds, The Woods

and Lindsey Place Public Improvement District Area 1 Project,

Series 2023

.875

09/15/53

1,215,049

750,000

Argyle, Texas, Special Assessment Revenue Bonds, Highlands

of Argyle Public Improvement District 1 Project, Series 2017

.000

09/01/37

753,124

3,905,000

(d) Argyle, Texas, Special Assessment Revenue Bonds, Waterbrook

of Argyle Public Improvement District Project, Series 2018

.250

09/01/47

3,866,876

5,800,000

(d) Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Magellan International School,

Series 2022

.375

06/01/62

5,831,111

1,000,000

(d) ate, Rockwall County, Texas, Special Assessment Revenue

Bonds, Williamsburg Public Improvement District 1 Phase 3B,

Series 2023

.375

08/15/53

1,002,597

1,750,000

(d) Aubrey Public Improvement District 1, Denton County, Texas,

Special Assessment Revenue Bonds, Series 2023

.000

09/01/53

1,757,486

1,500,000

(d) Aubrey, Denton County, Texas, Special Assessment Revenue

Bonds, Duck Point Public Improvement District, Series 2025

.625

12/31/55

1,466,117

1,000,000

(d) Aubrey, Denton County, Texas, Special Assessment Revenue

Bonds, Jackson Ridge Public Improvement District Phase 3B

Project, Series 2022

.000

09/01/45

1,040,007

3,800,000

(d) Aubrey, Denton County, Texas, Special Assessment Revenue

Bonds, Winn Ridge South Public Improvement District Project,

Series 2017

.200

09/01/47

3,857,500

5,000,000

(f) Austin, Texas, Airport System Revenue Bonds, Series 2022,

(AMT)

.250

11/15/47

5,131,618

20,000,000

(f) Austin, Texas, Electric Utility System Revenue Bonds, Refunding

& Improvement Series 2023, (UB)

.250

11/15/53

21,075,546

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

2,920,000

Austin, Travis, Williamson and Hays Counties, Texas, Special

Assessment Revenue Bonds, Estancia Hill Country Public

Improvement District, Series 2013

.000

%

11/01/28

$

2,922,265

1,500,000

(d) Austin, Travis, Williamson and Hays Counties, Texas,

Special Assessment Revenue Bonds, Whisper Valley Public

Improvement District Improvement Area 2, Series 2022

.500

11/01/51

1,508,520

1,200,000

(d) Bastrop, Texas, Special Assessment Revenue Bonds, Valverde

Public Improvement District Improvement Area 1, Series 2025

.625

09/01/55

1,200,129

2,000,000

(d) Bee Cave, Travis County, Texas, Special Assessment Revenue

Bonds, Backyard Public Improvement District Project, Series

2021

.250

09/01/51

1,879,094

12,175,000

(f) Bexar County Hospital District, Texas, Certificates of Obligation,

Series 2022, (UB)

.250

02/15/52

11,472,003

24,500,000

(f) Bexar County Hospital District, Texas, Certificates of Obligation,

Series 2023, (UB)

.250

02/15/53

23,017,598

5,870,000

Bonham Independent School District, Fannin County, Texas,

General Obligation Bonds, School Building Series 2023

.000

02/15/49

5,429,190

1,410,000

(d) Boyd Public Improvement District 1, Texas, Special Assessment

Revenue Bonds, Improvement Area 1 Project Series 2024

.500

09/15/53

1,403,478

1,020,000

(d) Boyd Public Improvement District 1, Texas, Special Assessment

Revenue Bonds, Improvement Area 1 Project Series 2025

.875

09/15/55

1,041,525

2,250,000

(d) Buda, Texas, Special Assessment Revenue Bonds, Persimmon

Public improvement District Improvement Area 1 Project,

Series 2025

.000

09/01/55

2,182,283

3,750,000

(d) Buda, Texas, Special Assessment Revenue Bonds, Persimmon

Public improvement District Major Improvement Area Project,

Series 2025

.750

09/01/55

3,645,457

1,635,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Cambridge

Crossing Public Improvement District Phase 1 Project, Series

2018

.125

09/01/38

1,642,325

4,135,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Cambridge

Crossing Public Improvement District Phase 1 Project, Series

2018

.250

09/01/47

4,078,847

4,230,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Cambridge

Crossing Public Improvement District Phases 2-7 Major

Improvement Project, Series 2018

.500

09/01/38

4,292,671

7,480,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Cambridge

Crossing Public Improvement District Phases 2-7 Major

Improvement Project, Series 2018

.625

09/01/48

7,522,035

1,000,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Chalk Hill

Public Improvement District 2 Phase 2 & 3 Direct Improvement

Project, Series 2023

.000

09/01/53

996,977

5,405,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Columns

Public Improvement District Project, Series 2018

.250

09/01/48

5,483,210

5,000,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Creeks of

Legacy Public Improvement District Phase 2 Project, Series

2018

.625

09/01/48

5,006,753

350,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Edgewood

Creek Public Improvement District Phase 2-3 Major

Improvement Project, Series 2021

.250

09/01/41

351,230

640,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Edgewood

Creek Public Improvement District Phase 2-3 Major

Improvement Project, Series 2021

.500

09/01/50

623,304

325,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Glen

Crossing Public Improvement District Phase 1B, Series 2018

.375

09/01/38

329,517

408,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Glen

Crossing Public Improvement District Phase 1B, Series 2018

.500

09/01/46

409,038

1,111,000

Celina, Texas, Special Assessment Revenue Bonds, Glen

Crossing Public Improvement District Project, Series 2018

.625

09/01/38

1,135,423

1,250,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Mosaic

Public Improvement District Improvement Area 2 Project Series

2024

.500

09/01/54

1,250,488

500,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Mosaic

Public Improvement District Phase 1B Project, Series 2024

.375

09/01/53

493,777

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,000,000

Celina, Texas, Special Assessment Revenue Bonds, North Sky

Public Improvement District Improvement Area 1 Project,

Series 2023

.375

%

09/01/43

$

1,003,618

50,000

Celina, Texas, Special Assessment Revenue Bonds, North Sky

Public Improvement District Improvement Area 1B Project,

Series 2024

.250

09/01/52

46,587

3,115,000

Celina, Texas, Special Assessment Revenue Bonds, Ownsby

Farms Public Improvement District Phase 1 Project, Series 2017

.125

09/01/46

3,156,973

1,245,000

Celina, Texas, Special Assessment Revenue Bonds, Ownsby

Farms Public Improvement District Phase 2 Major Improvement

Project, Series 2017

.125

09/01/46

1,253,002

1,100,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Parvin

Public Improvement District Project, Series 2023

.750

09/01/53

1,099,635

1,000,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Sutton

Fields East Public Improvement District Phase 2 Project, Series

2025

.625

09/01/55

977,664

3,500,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Sutton

Fields II Public Improvement District Neighborhood

Improvement Area 5 Project, Series 2022

.000

09/01/51

2,703,629

2,000,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Ten Mile

Creek Public Improvement District Major Improvement Area

Project, Series 2023

.750

09/01/52

2,027,644

1,765,000

(d) Celina, Texas, Special Assessment Revenue Bonds, The Parks

at Wilson Creek Public Improvement District Initial Major

Improvement Project, Series 2021

.250

09/01/41

1,557,029

1,140,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells North

Public Improvement District Neighborhood Improvement Area

1 Project, Series 2016

.000

09/01/36

1,143,961

500,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells South

Public Improvement District Neighborhood Improvement Area

5 Project, Series 2022

.500

09/01/42

507,530

1,500,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells South

Public Improvement District Neighborhood Improvement Area

6-7 Project, Series 2024

.750

09/01/54

1,516,766

9,295,000

(f) Chamber County, Texas, Combination Tax and Revenue

Certificates of Obligation, Series 2023, (UB)

.000

03/01/53

8,427,471

14,850,000

(f) Chapel Hill Independent School District, Smith County, Texas,

General Obligation Bonds, School Building Series 2023, (UB)

.000

02/15/53

13,456,859

3,000,000

(d) City of Midlothian, Texas, Westside Preserve Public

Improvement District Improvement Area #1 Project Special

Assessment Revenue Bonds Series 2022

.375

09/15/52

2,901,854

1,500,000

(d) City Of Midlothian, Texas, Westside Preserve Public

Improvement Major Improvement Area Project Special

Assessment Revenue Bonds Series 2022

.125

09/15/52

1,502,746

1,825,000

City of Shenandoah, Montgomery County, Texas, Special

Assessment Revenue Bonds, Metropark Public Improvement

District, Series 2018

.600

09/01/38

1,854,957

2,940,000

City of Shenandoah, Montgomery County, Texas, Special

Assessment Revenue Bonds, Metropark Public Improvement

District, Series 2018

.700

09/01/47

2,960,549

1,315,000

Club Municipal Management District 1, Texas, Special

Assessment Revenue Bonds, Improvement Area 1 Project,

Series 2016

.250

09/01/35

1,338,792

3,070,000

Club Municipal Management District 1, Texas, Special

Assessment Revenue Bonds, Improvement Area 1 Project,

Series 2016

.500

09/01/46

3,100,375

1,500,000

(d) Club Municipal Management District 1, Texas, Special

Assessment Revenue Bonds, Improvement Area 3 Project,

Series 2024

.375

09/01/55

1,480,701

1,300,000

Comal County, Texas, Special Assessment Revenue Bonds,

Crossings Public Improvement District, Series 2017

.000

09/01/46

1,237,951

1,640,000

Conroe Local Government Corporation, Texas, Hotel Revenue

Bonds, Conroe Convention Center Hotel, First-Lien Series

2021A

.000

10/01/50

1,256,580

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,000,000

(d) Corpus Christi, Nueces, Aransas, San Patricio, ad Kleberg

Counties, Texas, Special Assessment Revenue Bonds, Whitecap

Public Improvement District 1 Improvement Area 1 Project

Series 2024

.500

%

09/15/54

$

986,781

8,000,000

(f) Corpus Christi, Texas, Utility System Revenue Bonds, Refunding

& Improvement Senior Lien Series 2024, (UB)

.250

07/15/54

7,490,903

5,500,000

(f) Corpus Christi, Texas, Utility System Revenue Bonds, Senior

Lien Improvement Refunding Series 2023, (UB)

.125

07/15/53

5,147,321

750,000

(d) Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, Cartwright Ranch Public Improvement District Major

Improvement Area Project, Series 2021

.000

09/15/41

716,182

1,000,000

(d) Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, Cartwright Ranch Public Improvement District Major

Improvement Area Project, Series 2021

.250

09/15/51

953,726

4,165,000

(d) Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, River Ridge Public Improvement District Improvement

Area 1 Project, Series 2022

.125

09/15/52

4,276,954

1,000,000

(d) Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, River Ridge Public Improvement District Single Family

Residential, Major Improvement Area Project, Series 2022

.750

09/15/52

1,039,706

6,000,000

(f) Crowley Independent School District, Tarrant and Johnson

Counties, Texas, General Obligation Bonds, School Building

Series 2023, (UB)

.250

02/01/53

5,696,576

10,215,000

Crowley Independent School District, Tarrant and Johnson

Counties, Texas, General Obligation Bonds, School Building

Series 2023

.250

02/01/53

10,710,665

10,910,000

(f) Crowley Independent School District, Tarrant and Johnson

Counties, Texas, General Obligation Bonds, School Building

Series 2024, (UB)

.250

02/01/54

10,314,225

1,500,000

(d) Decatur, Texas, Special Assessment Revenue Bonds, Paloma

Trails Public Improvement District Improvement Area 1 Project,

Series 2025

.750

09/15/55

1,492,972

1,500,000

(d) Denton County, Texas, Special Assessment Revenue

Bonds, Green Meadows Public Improvement District Major

Improvement Area Project, Series 2025

.875

12/31/45

1,529,628

3,575,000

(d) Denton County, Texas, Special Assessment Revenue

Bonds, Green Meadows Public Improvement District Major

Improvement Area Project, Series 2025

.125

12/31/55

3,656,977

1,020,000

(d) Denton County, Texas, Special Assessment Revenue Bonds,

Green Meadows Public Improvement District, Improvement

Area 1 Project, Series 2025

.375

12/31/45

1,042,287

1,900,000

(d) Denton County, Texas, Special Assessment Revenue Bonds,

Green Meadows Public Improvement District, Improvement

Area 1 Project, Series 2025

.625

12/31/55

1,938,638

3,250,000

(d) Denton County, Texas, Special Assessment Revenue Bonds,

Tabor Ranch Public Improvement District Improvement Area 1

Project, Senior Lien Series 2024A

.625

12/31/54

3,198,983

2,180,000

(d) Denton County, Texas, Special Assessment Revenue Bonds,

Tabor Ranch Public Improvement District Major Improvement

Area Project, Series 2024

.250

12/31/54

2,112,774

5,000,000

Denton Independent School District, Denton County, Texas,

General Obligation Bonds, School Building Series 2023

.000

08/15/53

5,163,398

11,000,000

(f) Denton Independent School District, Denton County, Texas,

General Obligation Bonds, School Building Series 2023, (UB)

.000

08/15/53

11,359,476

1,600,000

(d) Dorchester, Texas, Special Assessment Revenue Bonds,

Cottonwood Public Improvement District Improvement Area 1

Project Series 2024

.250

09/15/54

1,511,788

4,350,000

East Fort Bend County Development Authority, Texas, Contract

Revenue Bonds, Water Sewer and Drain Facilities, Series 2022

.000

09/01/43

4,034,863

1,000,000

(d) East Waller County Management District, Texas, Special

Assessment Revenue Bonds, Sofi Lakes Sections 1 and 2

Project, Series 2025

.250

09/15/55

1,015,291

1,000,000

Edinburg Economic Development Corporation, Texas, Sales

Tax Revenue Bonds, Series 2021A

.375

08/15/46

660,223

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

3,985,000

(d) Fate City, Rockwall County, Texas, Special Assessment Revenue

Bonds, Williamsburg East Public Improvement District

Improvement Area 2 Project, Series 2022

.000

%

08/15/52

$

4,022,434

2,715,000

Friendswood, Harris and Galveston Counties, Texas, Special

Assessment Revenue Bonds, City Center Public Improvement

District, Initial Major Improvements Project Series 2024

.000

09/15/54

2,700,642

3,010,000

(d) Granbury, Hood County, Texas, Special Assessment Revenue

Bonds, Lakeview Landing Public Improvement District Project,

Series 2025

.500

09/15/55

3,070,484

6,060,000

(f) Greater Texoma Utility Authority, Texas, Contract Revenue

Bonds, City of Sherman Project Series 2023A - BAM Insured,

(UB)

.375

10/01/53

5,834,597

13,000,000

(f) Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2022A, (UB)

.125

07/01/52

11,827,767

10,000,000

(f) Harris County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Memorial

Hermann Health System, Series 2022A, (UB)

.000

07/01/52

10,223,760

7,400,000

(f) Harris County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Houston Methodist

Hospital System, Series 2015, (UB)

.000

12/01/45

6,802,097

5,405,000

(f) Harris County, Texas, General Obligation Bonds, Refunding

Road Series 2023A, (UB)

.250

09/15/48

5,293,334

10,950,000

(f) Harris County, Texas, Toll Road Revenue Bonds, Refunding First

Lien Series 2021A, (UB)

.000

08/15/50

9,881,013

600,000

Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Capital Appreciation Refunding Senior Lien Series 2014A -

AGM Insured

.000

11/15/53

139,980

520,000

(h) Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H, (ETM)

.000

11/15/26

503,309

355,000

(h) Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H, (ETM)

.000

11/15/27

334,105

480,000

(h) Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H - NPFG Insured, (ETM)

.000

11/15/28

438,943

125,000

(h) Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H - NPFG Insured, (ETM)

.000

11/15/29

111,037

1,910,000

Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H - NPFG Insured

.000

11/15/32

1,435,116

2,075,000

Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H - NPFG Insured

.000

11/15/34

1,354,058

35,000

Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H

.000

11/15/35

21,278

770,000

(h) Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H, (Pre-refunded 11/15/31) - NPFG

Insured

.000

11/15/36

471,104

3,390,000

Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H - NPFG Insured

.000

11/15/36

1,920,182

480,000

(h) Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H, (Pre-refunded 11/15/31) - NPFG

Insured

.000

11/15/37

275,986

1,045,000

Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H - NPFG Insured

.000

11/15/37

551,509

310,000

(h) Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H, (Pre-refunded 11/15/31) - NPFG

Insured

.000

11/15/38

167,472

1,620,000

Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H - NPFG Insured

.000

11/15/38

796,369

340,000

(h) Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H, (Pre-refunded 11/15/31) - NPFG

Insured

.000

11/15/39

172,549

790,000

Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H - NPFG Insured

.000

11/15/39

361,844

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

3,120,000

(h) Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H, (Pre-refunded 11/15/31) - NPFG

Insured

.000

%

11/15/40

$

1,487,146

2,180,000

Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H - NPFG Insured

.000

11/15/40

930,565

14,010,000

(h) Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H, (Pre-refunded 11/15/31) - NPFG

Insured

.000

11/15/41

6,270,756

2,940,000

Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Junior Lien Series 2001H - NPFG Insured

.000

11/15/41

1,167,060

1,840,000

Harris County-Houston Sports Authority, Texas, Revenue Bonds,

Senior Lien Series 2001G - NPFG Insured

.000

11/15/41

736,980

1,180,000

Harris County-Houston Sports Authority, Texas, Special

Revenue Bonds, Refunding Senior Lien Series 2001A - NPFG

Insured

.000

11/15/34

765,041

26,165,000

Harris County-Houston Sports Authority, Texas, Special

Revenue Bonds, Refunding Senior Lien Series 2001A - NPFG

Insured

.000

11/15/38

12,823,987

8,805,000

Harris County-Houston Sports Authority, Texas, Special

Revenue Bonds, Refunding Senior Lien Series 2001A - NPFG

Insured

.000

11/15/40

3,762,160

7,445,000

Hays County, Texas, Special Assessment Revenue Bonds, La

Cima Public Improvement District Major Public Improvement

Project, Series 2015

.000

09/15/45

7,446,952

5,545,000

Heart of Texas Education Finance Corporation, Texas, Gateway

Charter Academy, Series 2006A

.000

02/15/36

5,546,099

1,220,000

(d) Heritage Public Improvement District 1, Dripping Springs,

Texas, Special Assessment Revenue Bonds, Series 2023

.500

09/01/53

1,214,411

1,000,000

(d) Heritage Public Improvement District 2, Dripping Springs,

Texas, Special Assessment Revenue Bonds, Series 2023

.250

09/01/54

945,703

7,560,000

Hidalgo County Regional Mobility Authority, Texas, Toll and

Vehicle Registration Fee Revenue Bonds, Senior Lien Series

2022A

.000

12/01/53

1,674,911

5,000,000

Hidalgo County Regional Mobility Authority, Texas, Toll and

Vehicle Registration Fee Revenue Bonds, Senior Lien Series

2022A

.000

12/01/54

1,047,013

12,500,000

Hidalgo County Regional Mobility Authority, Texas, Toll and

Vehicle Registration Fee Revenue Bonds, Senior Lien Series

2022A

.000

12/01/55

2,473,473

5,000,000

Houston, Texas, Airport System Revenue Bonds, Refunding

Subordinate Lien Series 2021A, (AMT)

.000

07/01/46

4,455,495

3,105,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/38

3,333,707

750,000

(d) Huntsville, Walker County, Texas, Special Assessment Revenue

Bonds, The Reserves of Huntsville Public Improvement District

Series 2024

.625

09/15/54

735,519

840,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Cottonwood Creek Public Improvement Area 2 Project

Series 2025

.375

09/01/55

811,203

1,075,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Emory Crossing, Public Improvement Area 2 Project

Series 2023

.625

09/01/58

1,080,937

1,250,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Prairie Winds, Public Improvement Area 1, Series 2025

.375

09/01/60

1,202,707

2,000,000

(d) Joshua Farms Municipal Management District 1, Johnson

County, Texas, Special Assessment Revenue Bonds,

Improvement Areas 1-2 Project Series 2023

.500

09/01/53

1,962,953

1,105,000

(d) Justin, Denton County, Texas, Special Assessment Revenue

Bonds, Timberbrook Public Improvement District 1

Improvement Area 1 Project, Series 2018

.375

09/01/38

1,124,263

1,930,000

(d) Justin, Denton County, Texas, Special Assessment Revenue

Bonds, Timberbrook Public Improvement District 1

Improvement Area 1 Project, Series 2018

.125

09/01/47

1,932,467

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,680,000

(d) Justin, Denton County, Texas, Special Assessment Revenue

Bonds, Timberbrook Public Improvement District 1

Improvement Area 1 Project, Series 2018

.500

%

09/01/47

$

1,683,242

1,500,000

Kaufman,Texas, Special Assessment Revenue Bonds, Kaufman

Public Improvement District 1 Phase 2A-2B Project, Series 2021

.000

09/15/52

1,520,201

650,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, 6 Creeks

Public Improvement District Improvement Area 3B Project,

Series 2025

.125

09/01/46

628,308

2,000,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, 6 Creeks

Public Improvement District Improvement Area 4 Project,

Series 2023

.250

09/01/43

2,002,775

1,500,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, 6 Creeks

Public Improvement District Improvement Area 4 Project,

Series 2023

.500

09/01/47

1,511,824

400,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, 6 Creeks

Public Improvement District Improvement Area 5 Project,

Series 2025

.375

09/01/50

386,047

1,835,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Limestone

Creek Public Improvement District Improvement Area 1

Project, Series 2023

.750

09/01/53

1,826,799

1,125,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Limestone

Creek Public Improvement District Improvement Area 1

Project, Series 2024B

.750

09/01/53

1,124,620

830,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Plum Creek

North Public Improvement District Major Improvement Area 2

Project, Series 2024

.375

09/01/54

830,565

2,295,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Porter County

Public Improvement District Improvement Area 1 Project,

Series 2023

.000

09/01/53

2,266,677

10,000,000

(f) Lamar Consolidated Independent School District, Fort Bend

County, Texas, General Obligation Bonds, Schoolhouse Series

2023A, (UB)

.000

02/15/58

10,276,582

26,240,000

(f) Lamar Consolidated Independent School District, Fort Bend

County, Texas, General Obligation Bonds, Schoolhouse Series

2023A - BAM Insured, (UB)

.000

02/15/58

27,048,633

500,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Elevon

Public Improvement District Improvement Area 1 Project,

Series 2024

.375

09/15/52

490,451

2,700,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Lakepointe

Public Improvement District Areas 2-3 Project, Series 2022

.125

09/15/52

2,794,521

1,270,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Lakepointe

Public Improvement District Major Improvement Area Project,

Series 2019

.000

09/15/49

1,197,638

1,250,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Lavon Trails

Public Improvement District Project, Series 2025

.000

09/15/54

1,278,274

2,700,000

(d) Leander, Texas, Special Assessment Revenue Bonds, Crystal

Springs Public Improvement District Project, Series 2018

.300

09/01/48

2,615,591

1,090,000

(d) Leander, Texas, Special Assessment Revenue Bonds,

Deerbrooke Public Improvement District Northern

Improvement Area Major Improvement Project, Series 2017

.375

09/01/47

1,082,919

3,855,000

(d) Leander, Texas, Special Assessment Revenue Bonds,

Deerbrooke Public Improvement District Southern

Improvement Area Project, Series 2017

.000

09/01/47

3,636,523

140,000

(d) Liberty Hill, Williamson County, Texas, Special Assessment

Revenue Bonds, Liberty Parke Public Improvement District

Master Improvement Area Project, Series 2017

.125

09/01/27

142,293

2,150,000

(d) Liberty Hill, Williamson County, Texas, Special Assessment

Revenue Bonds, Liberty Parke Public Improvement District

Master Improvement Area Project, Series 2017

.000

09/01/46

2,174,139

975,000

(d) Liberty Hill, Williamson County, Texas, Special Assessment

Revenue Bonds, Liberty Parke Public Improvement District

Neighborhood Improvement Area 1 Project, Series 2017

.375

09/01/46

975,835

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

3,000,000

(d) Little Elm, Denton County, Texas, Special Assessment Revenue

Bonds, Valencia Public Improvement District 2 Project, Series

2022

.875

%

09/01/52

$

3,103,582

11,270,000

(d) Little Elm, Denton County, Texas, Special Assessment Revenue

Bonds, Valencia Public Improvement District Improvement

Area 2 Project, Refunding & Improvement Series 2018

.750

09/01/48

11,477,203

6,060,000

(d) Little Elm, Texas, Special Assessment Revenue Bonds, Valencia

Public Improvement District Phase I, Refunding & Improvement

Series 2018

.250

09/01/44

6,108,134

5,400,000

(d) Little Elm,Texas, Special Assessment Revenue Bonds, Hillstone

Pointe Public Improvement District 2 Phase 1-1A Project, Series

2017

.000

09/01/47

5,489,799

723,000

(d) Little Elm,Texas, Special Assessment Revenue Bonds, Hillstone

Pointe Public Improvement District 2 Phase 2-3 Project, Series

2018

.750

09/01/38

742,909

1,350,000

(d) Little Elm,Texas, Special Assessment Revenue Bonds, Hillstone

Pointe Public Improvement District 2 Phase 2-3 Project, Series

2018

.875

09/01/47

1,380,315

6,405,000

(d) Little Elm,Texas, Special Assessment Revenue Bonds, Valencia

Public Improvement District Major Improvement Area Project,

Refunding Series 2018

.750

09/01/48

6,582,593

1,130,000

(d) Lowry Crossing, Collin County, Texas, Special Assessment

Revenue Bond, Simpson Road Public Improvement District

Projects, Series 2025

.000

09/15/55

1,149,753

2,000,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Entradaglen

Public Improvement District Improvement Area 1 Project,

Series 2025

.000

09/15/55

2,039,668

600,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Lagos

Public Improvement District Major Improvement Area Project,

Series 2020

.500

09/15/40

562,998

600,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Lagos

Public Improvement District Major Improvement Area Project,

Series 2020

.625

09/15/49

531,449

1,435,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Manor

Heights Public Improvement District Improvement Area 1-2

Project, Series 2021

.000

09/15/51

1,111,382

1,000,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Manor

Heights Public Improvement District, Improvement Area 3,

Series 2023

.500

09/15/53

988,364

700,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Manor

Heights Public Improvement District, Improvement Area 4,

Series 2024

.625

09/15/54

700,869

1,300,000

(d) Mansfield, Tarrant, Johnson and Ellis Counties, Texas, Special

Assessment Revenue Bonds, Staybolt Public Improvement

District Improvement Area 1 Project, Series 2025

.250

09/15/55

1,327,676

1,755,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Gregg Ranch Public Improvement District

Major Improvement Area Project, Series 2019

.750

09/01/49

1,748,877

1,500,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Improvement Area 2A Project, Series 2024

.625

09/01/54

1,430,117

1,000,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Major Improvement Area Project, Series 2021

.125

09/01/51

922,727

1,250,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Remainder Area Project, Series 2024

.625

09/01/54

1,228,807

785,000

(d) Medina County, Texas, Special Assessment Revenue Bonds,

Woodlands Public Improvement District Major Improvement

Areas 1, Series 2021

.250

09/01/41

766,003

1,160,000

(d) Medina County, Texas, Special Assessment Revenue Bonds,

Woodlands Public Improvement District Major Improvement

Areas 1, Series 2021

.500

09/01/50

1,119,274

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

15,000,000

(f) Medina Valley Independent School District, Medina County,

Texas, General Obligation Bonds, School Building Series 2023,

(UB)

.000

%

02/15/53

$

13,636,220

850,000

(d) Mesquite, Texas, Special Assessment Bonds, Heartland Town

Center Public Improvement District Phase 1 Project, Series

2018

.250

09/01/38

861,955

1,595,000

(d) Mesquite, Texas, Special Assessment Bonds, Heartland Town

Center Public Improvement District Phase 1 Project, Series

2018

.375

09/01/48

1,580,984

1,000,000

(d) Mesquite, Texas, Special Assessment Bonds, Heartland

Town Center Public Improvement District Phase 2 Major

Improvement Project, Series 2023

.125

09/01/52

942,093

1,000,000

(d) Mesquite, Texas, Special Assessment Bonds, Iron Horse Public

Improvement District Project, Series 2019

.750

09/15/39

1,032,748

2,300,000

(d) Mesquite, Texas, Special Assessment Bonds, Iron Horse Public

Improvement District Project, Series 2019

.000

09/15/49

2,327,481

1,210,000

(d) Mesquite, Texas, Special Assessment Bonds, Solterra Public

Improvement District Improvement Area C-1 Projects, Series

2023

.625

09/01/53

1,216,299

1,100,000

(d) Mesquite, Texas, Special Assessment Revenue Bonds, Solterra

Public Improvement District Area C-1 Projects, Series 2023

.625

09/01/53

1,107,126

605,000

(d) Mesquite, Texas, Special Assessment Revenue Bonds, Solterra

Public Improvement District Area C-3 Projects, Series 2024

.250

09/01/53

580,849

4,250,000

(d) Mesquite, Texas, Special Assessment Revenue Bonds, Solterra

Public Improvement District Improvement Area A-1 Projects,

Series 2023

.750

09/01/53

4,311,228

3,285,000

(d) Mission Economic Development Corporation, Texas, Utility

Revenue Bonds, Permian Basin Water Resources Project, Series

2025A, (AMT)

.000

08/15/60

3,366,120

4,235,000

Montgomery County Municipal Utility District 132, Texas,

General Obligation Bonds, Road Series 2023 - AGM Insured

.000

09/01/47

3,784,708

1,000,000

(d) New Braunfels, Comal and Guadalupe Counties, Texas,

Special Assessment Revenue Bonds, Solms Landing Public

Improvement District Improvement Area 1 Project, Series 2021

.500

09/01/41

903,736

1,000,000

(d) New Braunfels, Comal and Guadalupe Counties, Texas,

Special Assessment Revenue Bonds, Solms Landing Public

Improvement District Improvement Area 1 Project, Series 2021

.750

09/01/51

872,266

1,595,000

(d) New Hope Cultural Education Facilities Finance Corporation,

Texas, Education Revenue Bonds, Beta Academy, Series 2018A

.625

08/15/39

1,595,400

3,340,000

(d) New Hope Cultural Education Facilities Finance Corporation,

Texas, Education Revenue Bonds, Beta Academy, Series 2018A

.750

08/15/49

3,339,640

1,400,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Bella Vida Forefront

Living Project, Series 2025A

.250

10/01/45

1,440,414

780,000

(e) New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Buckingham Senior

Living Community, Inc. Project, Series 2021A-1

.500

11/15/37

618,627

5,050,000

(e) New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Buckingham Senior

Living Community, Inc. Project, Series 2021A-2

.500

11/15/36

4,173,404

22,619,633

(e) New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Buckingham Senior

Living Community, Inc. Project, Series 2021B

.625

11/15/61

5,878,748

4,305,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Legacy Midtown

Park Project, Series 2018A

.500

07/01/54

3,536,638

3,355,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Legacy Midtown

Park Project, Series 2025

.750

07/01/44

3,393,054

670,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Methodist

Retirement Communites Senior Living Langford Project, Series

2016

.375

11/15/36

633,976

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,000,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Methodist

Retirement Communites Senior Living Langford Project, Series

2016

.500

%

11/15/46

$

859,204

2,000,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Methodist

Retirement Communites Senior Living Langford Project, Series

2016

.500

11/15/52

1,653,535

4,000,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Senior Living Revenue Bonds, Sanctuary LTC LLC Project,

Series 2021A-1

.250

01/01/42

3,767,680

2,204,828

(e) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, NCCD - College

Station Properties LLC - Texas A&M University Project, Series

2015A

.000

08/01/25

2,160,731

4,000,000

(e) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, NCCD - College

Station Properties LLC - Texas A&M University Project, Series

2015A

.000

07/01/27

3,920,000

10,500,000

(e) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, NCCD - College

Station Properties LLC - Texas A&M University Project, Series

2015A

.000

07/01/30

10,390,328

29,800,000

(e) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, NCCD - College

Station Properties LLC - Texas A&M University Project, Series

2015A

.000

07/01/35

28,988,302

141,700,000

(e) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, NCCD - College

Station Properties LLC - Texas A&M University Project, Series

2015A

.000

07/01/47

131,569,626

3,445,000

North East Regional Mobility Authority, Texas, Revenue Bonds,

Subordinate Lien Series 2016B

.000

01/01/46

3,415,761

17,310,000

(f) North Fort Bend Water Authority, Texas, Water System Revenue

Bonds, Refunding Series 2019A - BAM Insured, (UB)

.000

12/15/58

15,538,320

9,530,000

(f) North Fort Bend Water Authority, Texas, Water System Revenue

Bonds, Refunding Series 2019A, (UB)

.000

12/15/58

8,395,812

1,165,000

(d) North Parkway Municipal Management District 1, Celina, Texas,

Contract Revenue Bonds, Legacy Hills Public Improvement

District Phase 1A-1B Improvements, Series 2021

.250

09/15/51

982,006

670,000

(d) North Richland Hills, Texas, Special Assessment Revenue

Bonds, City Point Public Improvement District Zone A Project,

Series 2019

.625

09/01/40

671,852

658,000

(d) North Richland Hills, Texas, Special Assessment Revenue

Bonds, City Point Public Improvement District Zone B Project,

Series 2019

.250

09/01/40

659,983

923,000

(d) North Richland Hills, Texas, Special Assessment Revenue

Bonds, City Point Public Improvement District Zone B Project,

Series 2019

.375

09/01/50

905,332

10,000,000

(f) Northwest Independent School District, Denton, Tarrant and

Wise Counties, Texas, General Obligation Bonds, School

Building Series 2023, (UB)

.000

02/15/48

9,301,608

33,720,000

(f) Northwest Independent School District, Denton, Tarrant and

Wise Counties, Texas, General Obligation Bonds, School

Building Series 2025, (UB)

.000

02/15/55

35,092,087

1,000,000

(d) Oak Point, Denton County, Texas, Special Assessment

Revenue Bonds, Oak Point 720 Public Improvement District

Improvement Area 1 Project, Series 2024

.625

09/15/54

976,565

25,000,000

(f) Pflugerville, Travis and Williamson Counties, Texas, General

Obligation Bonds, Combination Tax and Revenue Series

2023A, (UB)

.125

08/01/53

22,987,768

20,710,000

(f) Pflugerville, Travis and Williamson Counties, Texas, General

Obligation Bonds, Limited Tax Series 2023 - BAM Insured, (UB)

.000

08/01/53

21,322,970

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,100,000

(d) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.375

%

09/15/55

$

1,123,694

2,000,000

(d) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.375

09/15/55

2,043,079

1,150,000

(d) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.125

09/15/55

1,174,757

350,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Creekview Public Improvement District Zone A Improvement

Area 1 Project, Series 2022

.250

09/15/32

365,304

800,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Creekview Public Improvement District Zone A Improvement

Area 1 Project, Series 2022

.500

09/15/42

798,893

300,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Creekview Public Improvement District Zone B Improvement

Area 1 Project, Series 2022

.250

09/15/32

314,369

750,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Creekview Public Improvement District Zone B Improvement

Area 1 Project, Series 2022

.500

09/15/42

754,608

3,000,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Mobberly Public Improvement District Improvement Area 1

Project, Series 2022

.500

09/15/48

2,838,071

4,900,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Mobberly Public Improvement District Improvement Area 2

Project, Series 2022

.000

09/15/52

4,921,455

1,901,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Mobberly Public Improvement District Major Improvement

Area Project, Series 2022

.500

09/15/52

1,962,869

5,725,000

(d) Port Beaumont Industrial Development Authority, Texas, Facility

Revenue Bonds, Jefferson Gulf Coast Energy Project, Series

2021B

.100

01/01/28

5,139,623

7,565,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2020, (AMT)

.000

01/01/50

5,749,899

9,000,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.000

01/01/50

5,954,984

4,000,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2024A, (AMT)

.125

01/01/44

3,860,980

2,000,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2024A, (AMT)

.250

01/01/54

1,905,033

20,000,000

(f) Port of Houston Authority, Harris County, Texas, General

Obligation Bonds, First Lien Series 2021, (UB)

.000

10/01/51

20,489,572

1,105,000

(d) Princeton, Collin County, Texas, Special Assessment Revenue

Bonds, Whitewing Trails Public Improvement District 2 Phase 2

Project, Series 2023

.125

09/01/43

1,070,627

875,000

(d) Princeton, Collins County, Texas, Special Assessment Revenue

Bonds, Windmore Public Improvement District Improvement

Area 2 Project, Series 2025

.000

09/01/55

886,669

4,285,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Crossroads Public Improvement District Major improvement

Project, Series 2018

.500

09/01/48

4,377,712

1,700,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Eastridge Public Improvement District Improvement Area 2

Project, Series 2023

.500

09/01/53

1,694,610

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,000,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Eastridge Public Improvement District Improvement Area 4

Project, Series 2025

.625

%

09/01/55

$

1,005,179

2,750,000

(d) Princeton, Texas, Special Assessment Revenue Bonds, Sicily

Public Improvement District Improvement Area 1 Project,

Series 2023

.000

09/01/53

2,782,681

1,000,000

(d) Princeton, Texas, Special Assessment Revenue Bonds, Sicily

Public Improvement District Major Improvement Area Project,

Series 2023

.875

09/01/53

1,021,267

1,500,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Southridge Public Improvement District Improvement Area 1

Project, Series 2023

.375

09/01/53

1,557,620

1,000,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Westridge Public Improvement District Improvement Area 1

Project, Series 2025

.625

09/01/55

990,307

2,235,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Whitewing Trails Public Improvement District 2 Phase 2-6 Major

Improvement Project, Series 2019

.750

09/01/49

2,239,008

1,250,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Winchester Crossing Public Improvement District 3 Project,

Series 2024

.375

09/01/54

1,239,565

900,000

(d) Providence Village, Denton County, Texas, Special Assessment

Revenue Bonds, Foree Ranch Public Improvement District

Improvement Area 1 Project Series 2024

.250

09/01/54

862,267

1,400,000

(d) Providence Village, Denton County, Texas, Special Assessment

Revenue Bonds, Foree Ranch Public Improvement District

Improvement Area 2 Project Series 2025

.500

09/01/55

1,363,384

5,840,000

(f) Quinlan Independent School District, Hunt and Kaufman

Counties, Texas, General Obligation Bonds, School Building

Series 2023, (UB)

.000

08/15/53

5,282,599

3,605,000

Reagan Hospital District of Reagan County, Texas, Limited Tax

Revenue Bonds, Series 2014A

.125

02/01/39

3,515,550

6,280,000

(e) Red River Health Facilities Development Corporation, Texas,

First Mortgage Revenue Bonds, Eden Home Inc., Series 2012

.000

12/15/32

2,888,800

5,525,000

(e) Red River Health Facilities Development Corporation, Texas,

First Mortgage Revenue Bonds, Eden Home Inc., Series 2012

.000

12/15/42

2,541,500

14,375,000

(e) Red River Health Facilities Development Corporation, Texas,

First Mortgage Revenue Bonds, Eden Home Inc., Series 2012

.000

12/15/47

6,612,500

445,000

Rowlett, Texas, Special Assessment Revenue Bonds, Bayside

Public Improvement District North Improvement Area, Series

2016

.000

09/15/46

445,514

1,300,000

(d) Royse City, Rockwall County, Texas, Special Assessment

Revenue Bonds, Liberty Crossing Public improvement District

Improvement Area 1 Project, Series 2023

.375

09/15/53

1,327,810

1,365,000

(d) Royse CIty, Rockwall County, Texas, Special Assessment

Revenue Bonds, Waterscape Public improvement District

Improvement Area 2 Project, Series 2019

.625

09/15/39

1,314,010

4,000,000

(d) Royse CIty, Rockwall County, Texas, Special Assessment

Revenue Bonds, Waterscape Public improvement District

Improvement Area 3 Project, Series 2022

.750

09/15/52

3,988,097

600,000

(d) Royse City, Rockwall, Collin and Hunt Counties, Texas, Special

Assessment Revenue Bonds, Creekshaw Public Improvement

District Improvement Area 2 Project, Series 2022

.875

09/15/42

601,424

1,300,000

(d) Royse City, Rockwall, Collin and Hunt Counties, Texas, Special

Assessment Revenue Bonds, Creekshaw Public Improvement

District Improvement Area 2 Project, Series 2022

.000

09/15/52

1,316,765

700,000

(d) Royse City, Rockwall, Collin and Hunt Counties, Texas, Special

Assessment Revenue Bonds, Creekshaw Public Improvement

District Major Improvement Area Project, Series 2020

.125

09/15/50

648,649

750,000

(d) Sachse, Texas, Special Assessment Bonds, Sachse Public

Improvement District 1 Improvement Area 1 Project, Series

2022

.000

09/15/50

780,270

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,000,000

(d) Sachse, Texas, Special Assessment Bonds, Sachse Public

Improvement District 1 Improvement Areas 2-3 Project, Series

2022

.000

%

09/15/52

$

1,082,595

2,235,000

(d) Sachse, Texas, Special Assessment Bonds, Sachse Public

Improvement District 1 Major Improvement Area Project, Series

2020

.625

09/15/50

2,264,468

710,000

Salado, Bell County, Texas, Special Assessment Revenue

Bonds, Sanctuary East Public Improvement District

Improvement Area 1 Project Series 2024

.500

09/01/54

701,538

6,000,000

(f) San Antonio, Texas, Water System Revenue Bonds, Refunding

Junior Lien Series 2023A, (UB)

.250

05/15/52

6,298,348

3,800,000

(d) San Marcos City, Hays, Caldwell and Guadalupe Counties,

Texas, Special Assessment Revenue Bonds, San Marcos Trace

Public Improvement District Series 2019

.750

09/01/39

3,835,762

5,000,000

(d) San Marcos City, Hays, Caldwell and Guadalupe Counties,

Texas, Special Assessment Revenue Bonds, San Marcos Trace

Public Improvement District Series 2019

.750

09/01/48

5,004,735

2,200,000

San Marcos City, Hays, Caldwell and Guadalupe Counties,

Texas, Special Assessment Revenue Bonds, Whisper Public

Improvement District Series 2020

.625

09/01/50

2,193,483

1,000,000

(d) Seagoville, Dallas and Kaufman Counties, Texas, Special

Assessment Revenue Bonds, Stonehaven Public Improvement

District Improvement Area 1 Project and Improvement Area 2

Project, Series 2025

.000

09/15/54

1,017,494

7,010,000

(f) Sherman, Texas, Combination Tax and Revenue Certificates of

Obligation, Series 2023, (UB)

.000

08/15/53

7,187,677

1,800,000

(d) Sinton, San Patricio County, Texas, Special Assessment Revenue

Bonds, Somerset Public Improvement District 1 Series 2022

.250

09/01/51

1,736,015

9,000,000

(f) Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Cook Childrens

Medical Center, Series 2025, (UB)

.125

12/01/54

8,326,254

8,250,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Scott & White

Healthcare Project, Series 2022D

.000

11/15/51

8,416,903

11,000,000

(f) Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Hospital Revenue Bonds, Scott & White

Healthcare Project, Series 2022D, (UB)

.000

11/15/51

11,222,538

240,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Retirement Facility Revenue Bonds,

Buckner Senior Living Ventana Project, Series 2017A

.625

11/15/37

245,055

5,875,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Retirement Facility Revenue Bonds,

Buckner Senior Living Ventana Project, Series 2017A

.750

11/15/47

5,925,252

5,865,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Retirement Facility Revenue Bonds,

Buckner Senior Living Ventana Project, Series 2017A

.750

11/15/52

5,905,118

8,000,000

(f) Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Christus Health, Series

2022A, (UB)

.000

07/01/53

7,020,688

7,890,000

(f) Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Revenue Bonds, Christus Health, Series

2022A, (UB)

.000

07/01/53

8,019,188

2,075,000

(e) Tarrant County Cultural Education Facilities Finance

Corporaton, Texas, Retirement Facility Revenue Bonds, C.C.

Young Memorial Home Project, Series 2009A

.750

02/15/38

1,618,500

1,000,000

(e) Tarrant County Cultural Education Facilities Finance

Corporaton, Texas, Retirement Facility Revenue Bonds, C.C.

Young Memorial Home Project, Series 2016A

.750

02/15/48

780,000

1,000,000

(e) Tarrant County Cultural Education Facilities Finance

Corporaton, Texas, Retirement Facility Revenue Bonds, C.C.

Young Memorial Home Project, Series 2016A

.750

02/15/52

780,000

13,700,000

(f) Tarrant County Cultural Education Facilities, Texas, Finance

Corporation Revenue Bonds, Christus Health, Refunding Series

2018B, (UB)

.000

07/01/48

13,789,619

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

13,860,000

(f) Tarrant County Hospital District, Texas, General Obligation

Bonds, Limited Tax Series 2023, (UB)

.250

%

08/15/48

$

14,466,999

15,935,000

(f) Tarrant County Hospital District, Texas, General Obligation

Bonds, Limited Tax Series 2023, (UB)

.250

08/15/53

14,750,022

35,000,000

(f) Tarrant Regional Water District, Texas, Water Transmission

Facilities Contract Revenue Bonds, Dallas Project, Series 2025,

(UB)

.250

09/01/55

32,946,984

10,360,000

(f) Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Series 2023B, (UB)

.200

07/01/48

10,649,478

5,000,000

(f) Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Series 2023B, (UB)

.250

07/01/53

5,345,723

6,320,000

(f) Texas Department of Housing and Community Affairs,

Residential Mortgage Revenue Bonds, Tender Option Bond

Trust 2023-XL0439, (UB)

.250

01/01/53

6,494,735

16,550,000

Texas Private Activity Bond Surface Transpiration Corporation,

Revenue Bonds, NTE Mobility Partners LLC North Tarrant

Express Managed Lanes Project, Senior Lien Series 2023,

(AMT)

.500

12/31/58

17,064,736

2,300,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.500

06/30/42

2,383,615

30,235,000

Texas Private Activity Bond Surface Transporation Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Segments 3C Project, Series 2019, (AMT)

.000

06/30/58

29,738,257

4,000,000

Texas Transportation Commission, State Highway 249 System

Revenue Bonds, First Tier Toll Series 2019A

.000

08/01/52

1,024,224

5,000,000

Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2023A

.000

10/15/58

5,186,356

13,000,000

(f) Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2023A, (UB)

.000

10/15/58

13,484,524

15,000,000

(f) Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2024A, (UB)

.250

10/15/51

14,184,673

8,440,000

(f) Texas Water Development Board, State Water Implementation

Revenue Fund Bonds, Master Trust Series 2024A, (UB)

.375

10/15/59

8,082,259

500,000

(d) Travis County Development Authority, Texas, Contract

Assessment Revenue Bonds, Bella Fortuna Public Improvement

District, Series 2024

.625

09/01/51

504,420

845,000

(d) Travis County Development Authority, Texas, Contract

Assessment Revenue Bonds, Longview 71 Public Improvement

District Area1 Project, Series 2024

.125

09/01/54

810,880

870,000

(d) Travis County Development Authority, Texas, Contract

Assessment Revenue Bonds, Turner's Crossing Public

Improvement District Area1 Project, Series 2022

.375

09/01/42

884,935

1,500,000

(d) Travis County Development Authority, Texas, Contract

Assessment Revenue Bonds, Turner's Crossing Public

Improvement District Area1 Project, Series 2022

.500

09/01/52

1,499,658

3,071,000

(d) Uhland, Hays and Caldwell Counties, Texas, Special

Assessment Revenue Bonds, Watermill Public Improvement

District, Series 2022

.625

09/01/52

3,165,697

3,200,000

(d) Venus, Johnson County, Texas, Special Assessment Revenue

Bonds, Brahman Ranch Public Improvement District, Series

2022

.500

09/15/52

3,211,978

1,017,000

(d) Venus, Johnson County, Texas, Special Assessment Revenue

Bonds, Patriot Estates Public Improvement District, Series 2021

.000

09/15/51

830,494

2,000,000

Vista Lago, Travis County, Texas, Special Assessment Revenue

Bonds, Tessera on Lake Travis Public Improvement District

Improvement Area #2 Project, Series 2018

.000

09/01/47

1,862,459

21,300,000

(f) Waller Independent School District, Waller and Harris

Counties, Texas, General Obligation Bonds, School Building

Series 2023A, (UB)

.000

02/15/48

19,937,550

17,555,000

(f) Waxahachie Independent School District, Ellis County, Texas,

General Obligation Bonds, School Building Series 2023, (UB)

.250

02/15/53

16,744,547

2,765,000

Westlake, Texas, Special Assessment Revenue Bonds, Solana

Public Improvement District, Series 2015

.125

09/01/35

2,765,095

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

2,450,000

Westlake, Texas, Special Assessment Revenue Bonds, Solana

Public Improvement District, Series 2015

.250

%

09/01/40

$

2,449,822

6,250,000

Westlake, Texas, Special Assessment Revenue Bonds, Solana

Public Improvement District, Series 2015

.375

09/01/45

6,210,846

TOTAL TEXAS

1,364,938,379

UTAH - 1.5%

1,700,000

(d) Arrowhead Springs Public Infrastructure District, Utah, Special

Assessment Bonds, Arrowhead Springs Assessment Area,

Series 2025

.625

12/01/54

1,700,951

5,900,000

(d) Black Desert Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds Series 2021A

.750

03/01/41

5,106,278

3,500,000

(d) Black Desert Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds Subordinate Series 2021B

.375

09/15/51

3,172,463

9,890,000

(d) Black Desert Public Infrastructure District, Washington County,

Utah, Special Assessment Bonds, Black Desert Assessment

Area 1, Series 2024

.625

12/01/53

9,916,575

10,870,000

(d),(e)

Box Elder County, Utah, Solid Waste Disposal Revenue Bonds,

Promontory Point Res, LLC, Senior Series 2017A, (AMT)

.000

12/01/39

10,439,369

2,190,000

(d) Copper Rim Infrastructure Financing District, West Jordan, Salt

Lake County, Utah, Special Assessment Bonds, Copper Rim

Assessment Area, Series 2025

.125

12/01/54

2,236,662

2,945,000

(d) Courtyards at Shurtz Canyon Public Infrastructure District,

Utah, Special Assessment Bonds, Courtyards at Shurtz Canyon

Assessment Area, Series 2025A-2

.875

12/01/45

3,020,644

3,525,000

(d) Downtown East Streetcar Sewer Public Infrastructure District,

South Salt Lake, Salt Lake County, Utah, Limited Tax General

Obligation Bonds, Series 2022A

.000

03/01/53

3,492,467

504,000

(d) Fields Estates Public Infrastructure District, Utah, General

Obligation Bonds, Subordinate Limited Tax Series 2024B

.750

03/15/55

511,089

2,750,000

(d) Fields Estates Public Infrastructure District, Utah, Special

Assessment Revenue Bonds, Fields Estates Assessment Area

Series 2024A-2

.250

12/01/53

2,638,745

4,840,600

(d) Firefly Public Infrastructure District 1, Utah, Limited Tax General

Obligation Bonds, Series 2024A-1

.625

12/01/43

4,849,582

2,375,000

(d) Firefly Public Infrastructure District 1, Utah, Limited Tax General

Obligation Bonds, Series 2024A-1

.625

03/01/54

2,425,532

10,000,000

(d) Gateway at Sand Hollow, Public Infrastructure District 1, Utah,

Limited Tax General Obligation Bonds, Series 2021A

.500

03/01/51

7,717,601

1,715,000

(d) GLH Public Infrastructure District 1, Utah, Limited Tax General

Obligation Bonds, Series 2025

.875

03/01/55

1,746,199

3,275,000

Jepson Canyon Public Infrastructure District 1, Utah, Limited

Tax General Obligation Bonds, Series 2022A

.125

03/01/51

2,563,671

3,875,000

(d) Medical School Campus Public Infrastructure District, Utah,

Limited Tax General Obligation Bonds, Series 2020A

.250

02/01/40

3,401,159

11,000,000

(d) Medical School Campus Public Infrastructure District, Utah,

Limited Tax General Obligation Bonds, Series 2020A

.500

02/01/50

8,892,947

1,955,000

(d) Medical School Campus Public Infrastructure District, Utah,

Limited Tax General Obligation Bonds, Subordinate Lien Series

2020B

.875

08/15/50

1,582,198

1,700,000

(d) Mida Cormont Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds, Series 2025A-1

.250

06/01/55

1,773,146

2,800,000

(d) Mida Cormont Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds, Series 2025A-2

.750

06/01/55

2,329,768

3,210,000

(d) MIDA Golf and Equestrian Center Public Infrastructure District,

Utah, Limited Tax and Tax Allocation Revenue Bonds, Series

2021

.250

06/01/41

2,740,347

7,500,000

(d) MIDA Military Installation Development Authority Golf and

Equestrian Center Public Infrastructure District, Utah, Limited

Tax and Tax Allocation Revenue Bonds, Series 2021

.625

06/01/57

6,087,164

1,000,000

(d) MIDA Mountain Veterans Program Public Infrastructure District,

Utah, Tax Allocation Revenue Bonds, Series 2024

.200

06/01/54

962,512

2,000,000

(d) MIDA Mountain Village Public Infrastructure District, Utah,

Subordinate Tax Allocation Revenue Bonds, Series 2024-2

.000

06/15/54

2,033,523

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTAH

(continued)

$

1,000,000

(d) Moonlight Village, Public Infrastructure District 1, Utah, Limited

Tax General Obligation Bonds, Series 2025A

.000

%

03/01/56

$

1,001,824

11,250,000

(d) Nordic Village Public Infrastructure District 1, Weber County,

Utah, Limited Tax General Obligation and Special Revenue

Bonds, Series 2025

.500

03/01/55

11,427,712

1,485,000

(d) Olympia Public Infrastructure District 1, Utah, Limited Tax

General Obligation Bonds, Series 2024A-1

.375

03/01/55

1,518,528

1,200,000

(d) Red Bridge Public Infrastructure District 1, Utah, Limited Tax

General Obligation Bonds Subordinate Series 2021B

.375

08/15/51

1,005,402

2,600,000

(d) Red Bridge Public Infrastructure District 1, Utah, Limited Tax

General Obligation Bonds, Series 2021A

.375

02/01/51

2,009,372

4,750,000

(d) Ridges Estates Infrastructure Financing District, Utah, Special

Assessment Bonds, Alpine Hollow Assessment Area, Series

2025

.250

12/01/53

4,867,338

424,000

(d) ROAM Public Infrastructure District 1, Utah, Limited Tax General

Obligation Bonds, Subordinate Series 2021B

.375

03/15/51

364,578

19,000,000

(f) Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2017A, (AMT), (UB)

.000

07/01/47

19,002,261

10,320,000

(f) Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT), (UB)

.250

07/01/53

10,594,696

1,270,000

(d) Sienna Hills Public Infrastructure District No. 1 Limited Tax

General Obligation and Sales Tax Revenue Bonds, Utah, Series

2023A

.750

07/01/35

1,290,266

1,004,000

(d) Slate Canyon Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds, Series 2025A

.250

03/01/55

1,019,487

288,000

(d) Slate Canyon Public Infrastructure District, Utah, Subordinate

Limited Tax General Obligation Bonds, Series 2025B

.250

03/15/55

292,407

885,000

(d) Soleil Hills Public Infrastructure District No. 1, Utah, Limited Tax

General Obligation and Special Revenue Bonds, Series 2025A

.875

03/01/55

872,228

1,000,000

(d) Sun Stone Infrastructure Financing District, Utah, Special

Assessment Bonds, Assessment Area 1, Series 2024

.750

06/01/54

953,761

10,795,000

(d) Tech Ridge Public Infrastructure District, St. George,

Washington County, Utah, Special Assessment and Tax

Increment Bonds, Tech Ridge Assessment Area, Series 2025

.250

12/01/54

11,007,737

4,000,000

(d) Trails at Shurtz Canyon Public Infrastructure District, Utah,

Special Assessment Bonds, Series 2025A-2

.625

12/01/45

4,103,728

4,875,000

(d) Utah Charter School Finance Authority, Charter School

Revenue Bonds, Paradigm High School Project, Series 2020A

.125

07/15/51

4,038,139

8,260,000

(d) Utah Charter School Finance Authority, Charter School

Revenue Bonds, Saint George Academy Project, Series 2021A

.000

06/15/56

6,124,479

15,820,000

Utah State Board of Regents, Research Revenue Bonds, Utah

State University, Auxiliary System Series 2023

.000

04/01/53

14,714,889

1,130,000

(d) Viridian Farm Public Infrastructure District 1, Utah, General

Obligation Bonds, Subordinate Limited Tax Series 2024A

.875

03/01/54

1,135,852

500,000

(d) Viridian Farm Public Infrastructure District 1, Utah, General

Obligation Bonds, Subordinate Limited Tax Series 2024B

.375

03/15/54

507,565

4,750,000

(d) Wakara Ridge Public Infrastructure District, Utah, Special

Assessment Bonds, Wakara Ridge Assessment Area, Series

2025

.625

12/01/54

4,814,556

3,405,000

(d) Wood Ranch Public Infrastructure District, Utah, Special

Assessment Bonds, Wood Ranch Assessment Area 1, Series

2024

.625

12/01/53

3,412,616

TOTAL UTAH

197,420,013

VIRGIN ISLANDS - 0.8%

5,820,000

Virgin Islands Public Finance Authority, Gross Receipts Taxes

Loan Note, Refunding Series 2012A

.000

10/01/32

5,820,918

7,375,000

(d) Virgin Islands Public Finance Authority, Gross Receipts Taxes

Loan Note, Refunding Series 2014C

.000

10/01/30

7,377,612

24,815,000

(d) Virgin Islands Public Finance Authority, Gross Receipts Taxes

Loan Note, Refunding Series 2014C

.000

10/01/39

24,290,423

500,000

Virgin Islands Public Finance Authority, Gross Receipts Taxes

Loan Note, Series 2012C

.000

10/01/42

470,092

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VIRGIN ISLANDS

(continued)

$

1,000,000

(d) Virgin Islands Public Finance Authority, Gross Receipts Taxes

Loan Note, Working Capital Series 2014A

.000

%

10/01/29

$

1,000,372

17,865,000

(d) Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Bond Anticipation Notes, Senior Series 2021A

.750

07/01/26

17,906,756

21,900,000

(d) Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Bond Anticipation Notes, Series 2024A

.000

07/01/26

22,148,035

1,515,000

(d) Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Refunding Series 2024B

.250

07/01/26

1,518,196

975,000

Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Series 2007B

.000

07/01/31

856,701

6,885,000

(d) West Indian Company Limited, Virgin Islands, Port Facilities

Revenue Bonds WICO Financing Series 2022A

.375

04/01/52

6,643,605

13,000,000

(d) West Indian Company Limited, Virgin Islands, Port Facilities

Revenue Bonds WICO Financing Series 2022B, (AMT)

.500

04/01/52

12,545,014

TOTAL VIRGIN ISLANDS

100,577,724

VIRGINIA - 1.6%

10,415,000

(d) Atlantic Park Community Development Authority, Virginia,

Revenue Bonds, Series 2023

.250

08/01/45

9,766,174

24,250,000

(d),(e)

Bristol Industrial Development Agency, Virginia, Revenue

Bonds, The Falls-Bristol Project, Series 2014B

.493

11/01/44

15,762,500

2,133,000

(e) Celebrate Virginia North Community Development Authority,

Special Assessment Revenue Bonds, Series 2003B

.125

03/01/26

1,322,460

4,956,000

(e) Celebrate Virginia North Community Development Authority,

Special Assessment Revenue Bonds, Series 2003B

.356

03/01/26

3,072,720

8,372,000

(e) Celebrate Virginia North Community Development Authority,

Special Assessment Revenue Bonds, Series 2003B

.455

03/01/34

5,190,640

1,095,000

(d) Cherry Hill Community Development Authority, Virginia,

Special Assesment Bonds, Potomac Shores Project, Series 2015

.150

03/01/35

1,096,354

1,855,000

(d) Cherry Hill Community Development Authority, Virginia,

Special Assesment Bonds, Potomac Shores Project, Series 2015

.400

03/01/45

1,855,993

5,000,000

(d) Cutalong II Community Development Authority, Louisa County,

Virginia, Special Assessment Revenue Bonds, Cutalong II

Project, Series 2022

.500

03/01/55

4,074,789

16,070,000

(f) Hampton Roads Transportation Accountability Commision,

Virginia, Revenue Bonds, Hampton Roads Transportation Fund,

Senior Lien Series 2020A, (UB)

.000

07/01/60

14,550,840

2,165,000

(d) Industrial Development Authority of the City of Alexandria,

Virginia, Tourism Development Financing Program Revenue

Bonds (699 Prince Street Hotel Project) Senior Series 2022A-1

(Tax-Exempt) and Senior Series 2022B-1

.750

09/01/44

2,107,837

5,525,000

(d) Industrial Development Authority of the City of Alexandria,

Virginia, Tourism Development Financing Program Revenue

Bonds (699 Prince Street Hotel Project) Senior Series 2022A-1

(Tax-Exempt) and Senior Series 2022B-1

.000

09/01/52

5,153,718

5,000,000

(d) Industrial Development Authority of the City of Newport News,

Virginia, Health System Revenue Bonds, Riverside Health

System, Series 2017A

.000

07/01/46

4,881,699

7,695,000

(f) Lynchburg Economic Development Authority, Virginia, Hospital

Revenue Bonds, Centra Health Obligated Group, Refunding

Series 2021, (UB)

.000

01/01/55

6,411,920

3,000,000

Norfolk Redevelopment and Housing Authority, Virginia, Fort

Norfolk Retirement Community, Inc., Harbor's Edge Project,

Series 2019A

.250

01/01/54

2,765,772

5,275,000

Norfolk Redevelopment and Housing Authority, Virginia,

Revenue Bonds, Fort Norfolk Retirement Community, Inc. -

Harbor's Edge Project, Refunding Series 2014

.375

01/01/46

5,108,544

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VIRGINIA

(continued)

$

4,840,000

(f) Northern Virginia Transportation Commission, Transportation

District Special Obligation Revenue Bonds, Transforming Rail In

Virginia Program, Green Series 2022, (UB)

.000

%

06/01/52

$

4,983,856

2,020,000

(d) Richmond Redevelopment and Housing Authority, Virginia,

Multi-Family Housing Revenue Bonds, American Tobacco

Apartments, Series 2017

.550

01/01/37

1,955,357

2,000,000

Virginia Beach Development Authority, Virginia, Residential

Care Facility Revenue Bonds, Westminster Canterbury on

Chesapeake Bay, Series 2023A

.000

09/01/53

2,191,561

2,400,000

(d) Virginia College Building Authority, Educational Facilities

Revenue Bonds, Marymount University Project, Green Series

2015B

.000

07/01/45

1,843,612

4,685,000

(d) Virginia College Building Authority, Educational Facilities

Revenue Bonds, Marymount University Project, Refunding

Series 2015A

.000

07/01/45

3,598,884

4,675,000

(f) Virginia Housing Development Authority, Rental Housing

Bonds, Series 2023B, (UB)

.875

03/01/61

4,734,343

13,645,000

(d) Virginia Small Business Finance Authority, Educational Facilities

Revenue Bonds, Provident Resource Group - Rixey Student

Housing Project, Series 2019A

.500

07/01/49

10,982,723

19,855,000

(d) Virginia Small Business Finance Authority, Educational Facilities

Revenue Bonds, Provident Resource Group - Rixey Student

Housing Project, Series 2019A

.500

07/01/54

15,619,247

11,843,247

(d) Virginia Small Business Finance Authority, Educational Facilities

Revenue Bonds, Provident Resource Group - Rixey Student

Housing Project, Series 2019B, (cash 7.500%, PIK 7.500%)

.500

07/01/52

7,105,948

9,005,000

(f) Virginia Small Business Finance Authority, Healthcare Facilities

Revenue Bonds, Bon Secours Mercy Health, Inc., Series 2020A,

(UB)

.000

12/01/49

8,047,291

7,495,000

(d) Virginia Small Business Finance Authority, Tourism

Development Financing Program Revenue Bonds, Downtown

Norfolk and Virginia Beach Oceanfront Hotel Projects, Series

2018A

.375

04/01/41

7,323,572

10,500,000

Virginia Small Business Financing Authority, Private Activity

Revenue Bonds, Transform 66 P3 Project, Senior Lien Series

2017, (AMT)

.000

12/31/52

10,251,666

17,175,000

Virginia Small Business Financing Authority, Private Activity

Revenue Bonds, Transform 66 P3 Project, Senior Lien Series

2017, (AMT)

.000

12/31/56

16,663,230

1,655,000

(d) Virginia Small Business Financing Authority, Solid Waste

Disposal Revenue Bonds, Covanta Project, Series 2018, (AMT),

(Mandatory Put 7/01/38)

.000

01/01/48

1,555,913

9,335,000

(d) Virginia Small Business Financing Authority, Sports and

Entertainment Facilities Revenue Bonds, P3 VB Holdings LLC,

Senior Series 2023A

.500

12/01/52

8,885,464

2,200,000

(d) West Falls Community Development Authority, Arlington

County, Virginia, Revenue Bonds, Series 2022A

.375

09/01/52

2,225,694

4,500,000

(f) Williamsburg Economic Development Authority, Virginia,

Student Housing Revenue Bonds, Provident Group -

Williamsburg Properties LLC - William and Mary Project Series

2023A - AGM Insured, (UB)

.125

07/01/58

4,151,799

17,265,000

(f) Williamsburg Economic Development Authority, Virginia,

Student Housing Revenue Bonds, Provident Group -

Williamsburg Properties LLC - William and Mary Project Series

2023A - AGM Insured, (UB)

.375

07/01/63

16,354,639

TOTAL VIRGINIA

211,596,759

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WASHINGTON - 0.6%

$

2,780,000

(i) King County Public Hospital District 4, Washington, Hospital

Revenue Bonds, Snoqualmie Valley Health, Refunding Series

2025A

.625

%

12/01/45

$

2,767,692

5,000,000

(i) King County Public Hospital District 4, Washington, Hospital

Revenue Bonds, Snoqualmie Valley Health, Refunding Series

2025A

.000

12/01/60

5,056,048

1,500,000

King County Public Hospital District 4, Washington, Hospital

Revenue Bonds, Snoqualmie Valley Hospital, Series 2015A

.000

12/01/35

1,502,697

5,500,000

King County Public Hospital District 4, Washington, Hospital

Revenue Bonds, Snoqualmie Valley Hospital, Series 2015A

.250

12/01/45

5,499,891

310,000

Kitsap County Consolidated Housing Authority, Washington,

Pooled Tax Credit Housing Revenue Bonds, Series 2007, (AMT)

.500

06/01/27

310,023

3,660,000

Kitsap County Consolidated Housing Authority, Washington,

Pooled Tax Credit Housing Revenue Bonds, Series 2007, (AMT)

.600

06/01/37

3,472,737

3,000,000

Port of Seattle, Washington, Revenue Bonds, Refunding

Intermediate Lien Series 2021C, (AMT)

.000

08/01/46

3,042,722

3,305,000

Tacoma Consolidated Local Improvement District 65,

Washington, Special Assessment Bonds, Series 2013

.750

04/01/43

3,264,667

4,800,000

(f) Washington Health Care Facilities Authority, Revenue Bonds,

MultiCare Health System, Series 2015B, (UB)

.125

08/15/43

4,453,635

1,510,000

(d),(f)

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Health & Services, Tender Option Bond Trust 2015-

XF0150, (IF)

.356

10/01/42

1,510,154

630,000

(d),(f)

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Health & Services, Tender Option Bond Trust 2015-

XF0150, (IF)

.361

10/01/42

630,064

5,000,000

Washington State Convention Center Public Facilities District,

Lodging Tax Revenue Bonds, Refunding Subordinate Series

2021B. Exchange Purchase

.000

07/01/58

4,031,752

11,170,000

(f) Washington State Convention Center Public Facilities District,

Lodging Tax Revenue Bonds, Series 2018, (UB)

.000

07/01/58

8,846,088

10,000,000

(f) Washington State Convention Center Public Facilities District,

Lodging Tax Revenue Bonds, Series 2018

.000

07/01/58

9,914,366

5,155,344

(d) Washington State Housing Finance Commission, Multifamily

Revenue Bonds, Greentree Village Homes Project, Series 2008

.264

02/01/26

5,155,344

1,750,000

Washington State Housing Finance Commission, Non-Profit

Housing Revenue Bonds, Bayview Manor Senior Project, Series

2024

.000

07/01/59

1,755,323

8,825,000

(d) Washington State Housing Finance Commission, Nonprofit

Revenue Bonds, Provident Group SH II Properties LLC, Blakeley

& Laurel Villages Portfolio, Series 2025A

.750

07/01/60

8,946,860

1,000,000

(d) Washington State Housing Finance Commission, Nonprofit

Revenue Bonds, Spokane International Academy Project,

Series 2021A

.000

07/01/50

900,113

2,550,000

Washington State Housing Finance Commission, Revenue

Bonds, Riverview Retirement Community, Refunding Series

2012

.000

01/01/48

2,318,893

10,000,000

(f) Washington State Housing Finance Commission, Single Family

Program Bonds, Social Series 2023-2N, (UB)

.950

12/01/53

10,141,103

TOTAL WASHINGTON

83,520,172

WEST VIRGINIA - 0.7%

6,451,000

Berkeley, Hardy and Jefferson Counties, West Virginia, as Joint

Issuers, Commercial Development Revenue Bonds, Scattered

Site Housing Projects, Series 2010

.750

12/01/44

6,108,847

5,500,000

Glenville State College, West Virginia, Revenue Bonds,

Refunding & Improvement Series 2017

.250

06/01/47

4,730,359

450,000

Huntington, West Virginia, Tax Increment Revenue Bonds,

Downtown Project 3, Refunding Series 2024A

.500

06/01/49

440,603

4,745,000

(d) Monongalia County Commission, West Virginia, Special District

Excise Tax Revenue Bonds, University Town Centre Economic

Opportunity Development District, Refunding & Improvement

Series 2017A

.500

06/01/37

4,803,156

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WEST VIRGINIA

(continued)

$

7,390,000

(d) Monongalia County Commission, West Virginia, Special District

Excise Tax Revenue Bonds, University Town Centre Economic

Opportunity Development District, Refunding & Improvement

Series 2017A

.750

%

06/01/43

$

7,453,113

610,000

(d) Monongalia County Commission, West Virginia, Special District

Excise Tax Revenue Bonds, University Town Centre Economic

Opportunity Development District, Subordinate Improvement

Series 2023A

.000

06/01/43

631,603

875,000

(d) Monongalia County, West Virginia, Tax Increment Revenue

Bonds, University Town Centre Development District 4, Senior

Refunding and Improvement Series 2023A

.750

06/01/43

912,159

875,000

(d) Monongalia County, West Virginia, Tax Increment Revenue

Bonds, University Town Centre Development District 4, Senior

Refunding and Improvement Series 2023A

.000

06/01/53

912,582

995,000

(d) South Charleston, West Virginia, Special District Excise Tax

Revenue Improvement Bonds, South Charleston Park Place

Project, Series 2022A

.250

06/01/42

794,853

5,240,000

(d) South Charleston, West Virginia, Special District Excise Tax

Revenue Improvement Bonds, South Charleston Park Place

Project, Series 2022A

.500

06/01/50

4,088,872

6,860,000

(d),(e)

West Virginia Economic Development Authority, Dock and

Wharf Facilities Revenue Bonds, Empire Trimodal Terminal, LLC

Project, Series 2020

.000

12/01/40

3,432,431

3,000,000

(d) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35)

.450

01/01/55

3,130,841

6,075,000

(f) West Virginia Hospital Finance Authority, Hospital Revenue

Bonds, West Virginia United Health System Obligated Group,

Series 2018A, (UB)

.000

06/01/51

5,299,524

12,000,000

(f) West Virginia Hospital Finance Authority, Revenue Bonds,

West Virginia University Health System Obligated Group,

Improvement Series 2017A, (UB)

.000

06/01/47

12,019,217

9,315,000

(f) West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System, Improvement Series 2023A,

(UB)

.125

06/01/42

8,790,238

14,175,000

(f) West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System, Improvement Series 2023A,

(UB)

.250

06/01/47

13,177,348

10,815,000

(f) West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System, Improvement Series 2023A,

(UB)

.375

06/01/53

10,047,914

TOTAL WEST VIRGINIA

86,773,660

WISCONSIN - 8.2%

16,950,000

Ashwaubenon Community Development Authority, Wisconsin,

Lease Revenue Bonds, Brown County Expo Center Project,

Series 2019

.000

06/01/54

4,042,767

22,485,000

(d),(e)

Gillett, Wisconsin, Solid Waste Disposal Revenue Bonds, WI

RNG Hub North LLC Renewable Natural Gas Production Plant

Project, Series 2021A

.500

12/01/32

17,335,461

13,840,000

Lac Courte Oreilles Band of Lake Superior Chippewa Indians,

Wisconsin, General Revenue Bonds, Refunding Series 2017

.750

06/01/32

13,907,154

510,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Alamance Community School, Series 2021A

.000

06/15/41

455,320

900,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Alamance Community School, Series 2021A

.000

06/15/56

706,245

1,600,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, American Preparatory Academy, Las Vegas 2 Project,

Series 2019A

.000

07/15/54

1,435,909

6,760,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, American Preparatory Academy, Las Vegas Project,

Series 2017

.375

07/15/52

6,406,481

6,580,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Chattahoochee Hills Project, Series 2017A

.875

06/15/47

5,648,883

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

1,000,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Coral Academy of Science, Reno, Series 2022A

.875

%

06/01/52

$

935,781

1,510,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Coral Academy of Science, Reno, Series 2022A

.000

06/01/62

1,418,121

335,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Corvian Community School Bonds, North Carolina,

Series 2019A

.000

06/15/39

305,992

1,000,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Corvian Community School, North Carolina, Series

2017A

.000

06/15/37

938,431

1,090,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Envision Science Academy Project, Series 2016A

.125

05/01/36

1,070,895

3,445,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Envision Science Academy Project, Series 2016A

.250

05/01/46

3,109,694

3,030,000

Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Explore Knowledge Foundation Las Vegas Project,

Series 2012A

.000

07/15/42

3,031,300

3,410,000

(d),(h)

Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North Carolina Charter Educational Foundation Project,

Series 2016A, (Pre-refunded 6/15/26)

.000

06/15/36

3,462,475

6,800,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North Carolina Charter Educational Foundation Project,

Series 2016A

.000

06/15/36

6,196,352

13,635,000

(d),(h)

Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North Carolina Charter Educational Foundation Project,

Series 2016A, (Pre-refunded 6/15/26)

.000

06/15/46

13,844,821

26,975,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North Carolina Charter Educational Foundation Project,

Series 2016A

.000

06/15/46

21,189,307

1,400,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Point College Preparatory, Series 2020A

.000

06/15/41

1,189,270

3,790,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Point College Preparatory, Series 2020A

.000

06/15/55

2,896,570

1,000,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Research Triangle High School Project, North Carolina,

Series 2015A

.375

07/01/35

1,000,172

1,590,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Research Triangle High School Project, North Carolina,

Series 2015A

.625

07/01/45

1,577,099

2,875,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Uwharrie Charter Academy, North Carolina, Series

2017A

.500

06/15/37

2,908,384

6,325,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Uwharrie Charter Academy, North Carolina, Series

2017A

.625

06/15/47

6,281,989

5,765,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Vegas Vista Academy, Series 2024A

.000

06/01/59

5,240,974

392,868

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/47

12,120

343,416

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/48

9,951

337,921

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/49

9,166

326,932

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/50

8,186

321,437

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/51

7,574

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

417,594

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

%

01/01/52

$

9,105

412,099

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/53

8,465

398,362

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/54

7,659

390,120

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/55

7,058

381,878

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/56

6,538

20,783,601

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.500

07/01/56

15,121,446

423,088

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/57

6,793

412,099

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/58

6,233

401,109

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/59

5,741

392,868

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/60

5,260

387,373

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/61

4,870

376,384

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/62

4,459

368,142

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/63

4,125

359,899

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/64

3,828

354,405

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/65

3,528

381,878

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/66

3,511

4,599,030

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/67

38,237

176,604

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/46

5,920

174,116

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/47

5,372

172,872

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/48

5,009

171,629

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/49

4,655

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

169,140

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

%

01/01/50

$

4,235

185,309

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/51

4,367

4,687,959

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.750

07/01/51

3,190,115

184,065

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/52

4,013

181,578

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/53

3,730

180,334

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/54

3,467

177,847

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/55

3,218

175,359

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/56

3,002

174,116

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/57

2,795

171,629

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/58

2,596

170,385

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/59

2,439

169,140

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/60

2,265

166,653

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/61

2,095

165,411

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/62

1,960

162,923

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/63

1,825

161,679

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/64

1,720

160,434

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/65

1,597

157,947

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/66

1,452

2,057,071

(d),(e)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

Second Tier Series 2018B

.000

01/01/67

17,103

25,000,000

(d) Public Finance Authority of Wisconsin, Contract Revenue

Bonds, Mercer Crossing Public Improvement District Project,

Series 2017

.000

03/01/47

25,417,677

895,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Carolina International School, Series 2018A

.250

08/01/38

899,745

1,240,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Carolina International School, Series 2018A

.500

08/01/48

1,241,184

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

5,815,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Casa Esperanza Montessori, Series 2021A

.500

%

06/01/56

$

4,317,732

6,875,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Corvian Community School, North Carolina Series

2023A

.250

06/15/53

6,586,897

1,030,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Pioneer Springs Community School, Series 2020A

.250

06/15/40

992,265

5,350,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Pioneer Springs Community School, Series 2020A

.500

06/15/50

5,018,817

1,300,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Pioneer Springs Community School, Taxable Series

2020B

.500

06/15/30

1,299,801

1,000,000

Public Finance Authority of Wisconsin, Education Revenue

Bonds, Shining Rock Classical Academy, Series 2022A

.000

06/15/52

874,481

955,000

Public Finance Authority of Wisconsin, Education Revenue

Bonds, Shining Rock Classical Academy, Series 2022A

.125

06/15/57

838,815

1,945,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, The Capitol Encore Academy, Series 2019A

.500

06/01/49

1,739,272

1,300,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, The Capitol Encore Academy, Series 2021A

.000

06/01/56

1,051,804

500,000

Public Finance Authority of Wisconsin, Educational Facilities

Revenue Bonds, Cincinnati Classical Academy, Series 2024A

.000

06/15/64

488,683

4,385,000

(d),(e)

Public Finance Authority of Wisconsin, Educational Facilities

Revenue Bonds, Lake Erie College, Series 2019A

.875

10/01/54

2,712,540

5,625,000

(d) Public Finance Authority of Wisconsin, Educational Facilities

Revenue Bonds, Lindenwood Education system, Series 2025A

.500

06/01/40

5,805,939

1,000,000

(d) Public Finance Authority of Wisconsin, Educational Facility

Revenue Bonds, Dreamhouse Refunding Series 2025A

.375

06/15/60

979,235

1,000,000

(d) Public Finance Authority of Wisconsin, Educational Facility

Revenue Bonds, LEAD Academy Project, Series 2016A

.000

08/01/36

860,597

3,000,000

(d) Public Finance Authority of Wisconsin, Educational Facility

Revenue Bonds, LEAD Academy Project, Series 2016A

.125

08/01/46

2,252,481

2,875,000

(d) Public Finance Authority of Wisconsin, Educational Facility

Revenue Bonds, LEAD Academy Project, Series 2021

.000

08/01/56

1,973,851

4,395,000

Public Finance Authority of Wisconsin, Educational Facility

Revenue Bonds, Lenoir-Rhyne University, Refunding Series

2022

.000

04/01/43

4,248,003

5,300,000

Public Finance Authority of Wisconsin, Health Care Facilities

Revenue Bonds, Blue Ridge HealthCare, Refunding Series

2020A

.000

01/01/50

3,796,748

1,725,000

(d) Public Finance Authority of Wisconsin, Healthcare Facility

Expansion Revenue Bonds, Church Homes of Hartford Inc

Project, Refunding Series 2015A

.000

09/01/38

1,724,973

1,930,000

(d) Public Finance Authority of Wisconsin, Hotel Revenue

Bonds, Grand Hyatt San Antonio Hotel Acquisition Project,

Subordinate Lien Series 2022B

.750

02/01/52

1,972,467

16,835,000

(d) Public Finance Authority of Wisconsin, Hotel Revenue

Bonds, Grand Hyatt San Antonio Hotel Acquisition Project,

Subordinate Lien Series 2022B

.000

02/01/62

17,357,203

13,500,000

(d),(e)

Public Finance Authority of Wisconsin, Limited Obligation

Grant Revenue Bonds, American Dream @ Meadowlands

Project, Series 2017A

.250

08/01/27

10,800,000

16,045,000

(d),(e)

Public Finance Authority of Wisconsin, Limited Obligation

Grant Revenue Bonds, American Dream @ Meadowlands

Project, Series 2017A

.750

08/01/31

12,354,650

226,900,000

(d) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream @ Meadowlands

Project, Series 2017

.000

12/01/50

181,520,000

61,170,000

(d) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream Meadowlands Project,

Series 2017

.500

12/01/37

48,936,000

41,330,000

(d) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream Meadowlands Project,

Series 2017

.750

12/01/42

33,064,000

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

6,710,000

(d) Public Finance Authority of Wisconsin, Project Revenue Bonds,

Irving Convention Center Hotel Project, First Tier Series

2017A-2

.000

%

01/01/50

$

6,967,472

4,032,916

(d) Public Finance Authority of Wisconsin, Revenue Anticipation

Bonds, Texas Infrastructure Authority Program, Astro Texas

Land Projects, Refunding & Improvement Series 2025

.000

12/15/36

4,038,396

13,650,000

(d) Public Finance Authority of Wisconsin, Revenue Anticipation

Capital Appreciation Bonds, Texas Infrastructure Authority

Program, Myrtle Creek Project, Series 2025

.000

12/15/41

4,903,689

16,910,000

(d),(e)

Public Finance Authority of Wisconsin, Revenue Bonds,

Alabama Gulf Coast Zoo, Series 2018A

.500

09/01/48

10,146,000

2,600,000

(d),(e)

Public Finance Authority of Wisconsin, Revenue Bonds,

Alabama Gulf Coast Zoo, Taxable Series 2018B

.750

09/01/29

1,560,000

3,100,000

(d),(e)

Public Finance Authority of Wisconsin, Revenue Bonds,

Alabama Proton Therapy Center, Senior Series 2017A

.250

10/01/31

310,000

10,400,000

(d),(e)

Public Finance Authority of Wisconsin, Revenue Bonds,

Alabama Proton Therapy Center, Senior Series 2017A

.850

10/01/47

1,040,000

4,700,000

(d),(e)

Public Finance Authority of Wisconsin, Revenue Bonds,

Alabama Proton Therapy Center, Senior Series 2017A

.000

10/01/47

470,000

2,000,000

(d),(e)

Public Finance Authority of Wisconsin, Revenue Bonds,

Alabama Proton Therapy Center, Senior Series 2017B

.500

10/01/47

5,000,000

Public Finance Authority of Wisconsin, Revenue Bonds,

Bayhealth Medical Center Project, Series 2021A - BAM Insured

.000

07/01/50

3,799,340

3,000,000

(d),(e)

Public Finance Authority of Wisconsin, Revenue Bonds, Delray

Beach Radiation Therapy Center, Subordinate Series 2017B

.500

11/01/46

1,500

1,220,000

Public Finance Authority of Wisconsin, Revenue Bonds, Prime

Healthcare Foundation, Inc., Series 2017A

.200

12/01/37

1,246,394

2,725,000

Public Finance Authority of Wisconsin, Revenue Bonds, Prime

Healthcare Foundation, Inc., Series 2017A

.350

12/01/45

2,750,602

18,790,000

(d),(e)

Public Finance Authority of Wisconsin, Revenue Bonds, Procure

Proton Therapy Center, Senior Series 2018A

.950

07/01/38

13,153,000

60,680,000

(d),(e)

Public Finance Authority of Wisconsin, Revenue Bonds, Procure

Proton Therapy Center, Senior Series 2018A

.000

07/01/48

42,476,000

4,410,000

Public Finance Authority of Wisconsin, Revenue Bonds,

Roseman University of Health Sciences, Series 2015

.875

04/01/45

4,406,513

23,365,000

Public Finance Authority of Wisconsin, Revenue Bonds,

SearStone Retirement Community, Series 2023A

.000

06/01/52

20,503,159

9,500,000

(d) Public Finance Authority of Wisconsin, Revenue Bonds, Senior

Revenue Bonds, Proton International Arkansas, LLC, Series

2021A

.850

01/01/51

6,499,682

6,650,000

(d) Public Finance Authority of Wisconsin, Revenue Bonds, Viticus

Group Project, Series 2022A

.250

12/01/51

5,150,103

4,180,000

Public Finance Authority of Wisconsin, Senior Airport Facilities

Revenue and Refunding Bonds, TrIPS Obligated Group, Series

2012B

.000

07/01/42

4,180,101

5,605,000

(d),(e)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.125

01/01/33

2,522,250

22,230,000

(d),(e)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.250

01/01/38

10,003,500

90,145,000

(d),(e)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.375

01/01/48

40,565,250

600,000

Public Finance Authority of Wisconsin, Student Housing

Revenue Bonds, Campus Real Estate Holding Corporation, LLC

Project, Series 2025A

.500

06/01/55

605,993

1,000,000

Public Finance Authority of Wisconsin, Student Housing

Revenue Bonds, KSU Bixby Real Estate Foundation, LLC Project,

Junior Subordinate, Series 2025C

.750

06/15/55

984,460

500,000

Public Finance Authority of Wisconsin, Student Housing

Revenue Bonds, KSU Bixby Real Estate Foundation, LLC Project,

Senior Series 2025A

.250

06/15/50

510,276

1,000,000

Public Finance Authority of Wisconsin, Student Housing

Revenue Bonds, KSU Bixby Real Estate Foundation, LLC Project,

Senior Series 2025A

.250

06/15/55

1,016,402

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

550,000

Public Finance Authority of Wisconsin, Student Housing

Revenue Bonds, KSU Bixby Real Estate Foundation, LLC Project,

Subordinate, Series 2025B

.250

%

06/15/45

$

558,137

750,000

Public Finance Authority of Wisconsin, Student Housing

Revenue Bonds, KSU Bixby Real Estate Foundation, LLC Project,

Subordinate, Series 2025B

.500

06/15/55

763,294

2,600,000

(d) Public Finance Authority of Wisconsin, Student Housing

Revenue Bonds, University of Hawaii Foundation Project, Green

and Social Series 2021A-1

.000

07/01/61

1,914,872

2,000,000

(d) Public Finance Authority of Wisconsin, Student Housing

Revenue Bonds, University of Hawaii Foundation Project,

Subordinate Green and Social Series 2021B

.250

07/01/61

1,644,053

4,865,000

(c),(e)

Public Finance Authority of Wisconsin, Wisconsin Revenue

Note, KDC Agribusiness LLC Project, Series 2022B

.000

12/31/25

7,750,000

(d) Public Finance Authority, Wisconsin, Revenue Bonds, Two Step

Project, Series 2024

.000

12/15/34

4,474,881

6,500,000

(d) Public Finance Authority, Wisconsin, Revenue Bonds, Ultimate

Medical Academy, Taxable Series 2019B

.125

10/01/49

5,658,296

21,625,000

(d) Public Finance Authority, Wisconsin, Revenue Bonds, Vonore

Fiber Products Sustainable Packaging Project, Taxable Green

Series 2019

.500

06/01/29

21,040,850

22,100,000

(d) Public Finance Authority, Wisconsin, Tax Increment Revenue

Senior Bonds, World Center Project Series 2024A

.000

06/01/41

22,242,057

3,215,000

(d) Public Finance Authority, Wisconsin, Tax Increment Revenue

Subordinate Bonds, World Center Project Series 2024B

.000

06/15/42

3,240,429

55,000,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

06/30/60

56,593,124

15,000,000

(f) Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025,

(UB)

.750

06/30/60

15,434,489

3,000,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.500

06/30/60

3,291,768

29,700,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

12/31/65

30,560,287

44,790,000

(f) Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025,

(UB)

.750

12/31/65

46,087,383

14,000,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.500

12/31/65

15,327,961

6,650,000

(d) Saint Croix Chippewa Indians of Wisconsin, Revenue Bonds,

Refunding Senior Series 2021

.000

09/30/41

5,914,595

13,825,000

(f) University of Wisconsin Hospitals and Clinics Authority,

Revenue Bonds, Series 2018A, (UB)

.250

04/01/48

13,158,121

7,000,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Marshfield Clinic Health System, Inc., Series 2017C

.000

02/15/47

7,012,629

8,500,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Agnesian HealthCare, Inc., Series

2017

.000

07/01/47

7,680,559

1,850,000

(e) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, American Baptist Homes of the

Midwest Obligated Group, Refunding Series 2017

.000

08/01/37

1,247,574

1,500,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Dickson Hollow Phase 2 Project,

Series 2024

.125

10/01/59

1,531,358

5,620,000

(f) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Froedtert Health, Inc. Obligated

Group, Series 2017A, (UB)

.000

04/01/48

5,638,395

15,345,000

(f) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Marshfield Clinic Health System Inc

Series 2024A - BAM Insured, (UB)

.500

02/15/54

14,582,294

9,745,000

(f) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Medical College of Wisconsin, Inc.,

Series 2016, (UB)

.000

12/01/46

8,811,251

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

30,000,000

(f) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Medical College of Wisconsin, Inc.,

Series 2022, (UB)

.000

%

12/01/51

$

25,951,617

1,650,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Mile Bluff Medical Center, Inc.,

Series 2014

.500

05/01/34

1,649,902

2,635,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Mile Bluff Medical Center, Inc.,

Series 2014

.750

05/01/39

2,600,554

1,000,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Oakwood Lutheran Senior

Ministries, Series 2021

.000

01/01/57

744,647

10,105,000

(f) Wisconsin Housing and Economic Development Authority,

Home Ownership Revenue Bonds, Social Series 2024A, (UB)

.750

09/01/50

10,144,184

12,500,000

(f) Wisconsin Housing and Economic Development Authority,

Home Ownership Revenue Bonds, Social Series 2024B, (UB)

.750

03/01/51

12,447,865

10,115,000

(f) Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2018A, (UB)

.300

11/01/53

9,710,132

TOTAL WISCONSIN

1,073,698,656

WYOMING - 0.2%

10,245,000

Larmie County, Wyoming, Hospital Revenue Bonds, Cheyenne

Regional Medical Center Project, Refunding Series 2021

.000

05/01/42

8,279,301

8,250,000

(f) Wyoming Community Development Authority, Housing

Revenue Bonds, 2023 Series 3, (UB)

.850

12/01/48

8,410,229

12,765,000

(f) Wyoming Community Development Authority, Housing

Revenue Bonds, 2025 Series 1, (UB)

.650

12/01/45

12,772,599

TOTAL WYOMING

29,462,129

TOTAL MUNICIPAL BONDS

(Cost $17,845,804,642)

16,631,635,909

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

1444043

VARIABLE RATE SENIOR LOAN INTERESTS - 0.0%

1444043

CAPITAL GOODS - 0.0%

6,819,827

(c),(e)

KDC Agribusiness Fairless Hills LLC

.000

09/17/26

682

TOTAL CAPITAL GOODS

682

CONSUMER DURABLES & APPAREL - 0.0%

1,096,191

(c) Cahava Springs Advance

.500

12/31/26

1,096,191

TOTAL CONSUMER DURABLES & APPAREL

1,096,191

PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES - 0.0%

347,170

(c) Tuscan Gardens of Palm Coast

.000

10/12/25

347,170

TOTAL PHARMACEUTICALS, BIOTECHNOLOGY & LIFE SCIENCES

347,170

TOTAL VARIABLE RATE SENIOR LOAN INTERESTS

(Cost $8,263,187)

1,444,043

TOTAL LONG-TERM INVESTMENTS

(Cost $17,887,017,224)

16,657,591,728

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM INVESTMENTS - 1.4%

186,700,000

REPURCHASE AGREEMENTS - 1.4%

186,700,000

186,700,000

(k) Fixed Income Clearing Corporation

.150

10/01/25

186,700,000

TOTAL REPURCHASE AGREEMENTS

(Cost $186,700,000)

186,700,000

TOTAL SHORT-TERM INVESTMENTS

(Cost $186,700,000)

186,700,000

TOTAL INVESTMENTS - 128.2%

(Cost $18,073,717,224)

16,844,291,728

FLOATING RATE OBLIGATIONS - (35.8)%

(4,704,243,000)

OTHER ASSETS & LIABILITIES, NET - 7.6%

997,339,881

NET ASSETS - 100%

$

13,137,388,609

#### Portfolio of Investments September 30, 2025
(continued)

#### High Yield

See Notes to Financial Statements

Investments in Derivatives

P

AMT

Alternative Minimum Tax

ETM

Escrowed to maturity

IF

Inverse floating rate security issued by a tender option bond ("TOB") trust, the interest rate on which varies inversely with the

Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is

reduced by the expenses related to the TOB trust.

PIK

Payment-in-kind ("PIK") security. Depending on the terms of the security, income may be received in the form of cash, securities, or

a combination of both. The PIK rate shown, where applicable, represents the annualized rate of the last PIK payment made by the

issuer as of the end of the reporting period.

UB

Underlying bond of an inverse floating rate trust reflected as a financing transaction. Inverse floating rate trust is a Recourse Trust

unless otherwise noted.

(a) Common Stock received as part of spin-off from WestRock Company.

(b) Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.

(c) For fair value measurement disclosure purposes, investment classified as Level 3.

(d) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the fiscal period, the aggregate value of these securities is $4,300,658,658 or 25.5% of Total Investments.

(e) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of

bankruptcy.

(f) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse

floating rate transactions.

(g) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding.

The rate shown is the coupon as of the end of the fiscal period.

(h) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely

payment of principal and interest.

(i) When-issued or delayed delivery security.

(j) Inverse floating rate trust is a non recourse trust.

(k) Agreement with Fixed Income Clearing Corporation, 4.150% dated 9/30/25 to be repurchased at $186,721,522 on 10/1/25,

collateralized by Government Agency Securities, with coupon rate 4.500% and maturity date 5/31/29, valued at $190,434,117.

Credit Default Swaps - OTC Uncleared

SOLD

Counterparty

Reference Entity

Fixed

Rate

(Annualized)

Current

Credit

Spread (a)

Fixed Rate

Payment

Frequency

Maturity

Date

Notional

Amount(b)

Value

Premiums

Paid

(Received)

Unrealized

Appreciation

(Depreciation)

Citigroup Global

Markets Inc.(c)

City of Chicago

.000

%

.09

%

Quarterly

12/22/25

$

5,000,000

$

5,427

$

(9,334)

$

14,761

Citigroup Global

Markets Inc.(c)

City of Chicago

.000

.13

Quarterly

6/20/28

60,000,000

335,134

(2,012,159)

2,347,293

Citigroup Global

Markets Inc.(c)

State of Illinois

.000

.38

Quarterly

12/20/25

25,000,000

48,139

(14,569)

62,708

Total

$

90,000,000

$

388,700

$(2,036,062)

$

2,424,762

(a) The credit spread generally serves as an indication of the current status of the payment/performance risk and therefore the

likelihood of default of the credit derivative. The credit spread also reflects the cost of buying/selling protection and may include

upfront payments required to be made to enter into a credit default swap contract. Higher credit spreads are indicative of higher

likelihood of performance by the seller of protection.

(b) The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit

protection if a credit event occurs is defined under the terms of that particular swap agreement. This amount may be reduced by

any recoverable assets, if applicable.

(c) For fair value measurement disclosure purposes, investment classified as Level 3.

#### Portfolio of Investments September 30, 2025

#### Short Duration High Yield
See Notes to Financial Staements

(Unaudited)

SHARES

DESCRIPTION

VALUE

LONG-TERM INVESTMENTS - 97.4%

COMMON STOCKS - 0.0%

MATERIALS - 0.0%

(a),(b)

PALOUSE FIBER HOLDINGS

$

TOTAL MATERIALS

TOTAL COMMON STOCKS

(Cost $22,950)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

6,825,000

CORPORATE BONDS - 0.1%

6,825,000

CONSUMER SERVICES - 0.1%

$

10,500,000

(a) Wild Rivers Water Park

.500

%

11/01/51

6,825,000

TOTAL CONSUMER SERVICES

6,825,000

TOTAL CORPORATE BONDS

(Cost $9,662,965)

6,825,000

SHARES

DESCRIPTION

VALUE

29,622,000

EXCHANGE-TRADED FUNDS - 0.5%

29,622,000

1,200,000

(b),(c)

Nuveen High Yield Municipal Bond ETF

29,622,000

TOTAL EXCHANGE-TRADED FUNDS

(Cost $30,038,313)

29,622,000

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

5800560280

MUNICIPAL BONDS - 96.7%

5800560280

ALABAMA - 3.4%

1,450,000

(d) Alabama Private Colleges and University Facilities Authority,

Limited Obligation Bonds, University of Mobile Project, Series

2015A

.350

09/01/27

1,450,595

5,000,000

(d) Baldwin County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, Novelis Corporation

Project, Series 2025A, (AMT), (Mandatory Put 6/01/32)

.000

06/01/55

5,118,346

3,830,000

(d) Baldwin County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, Novelis Corporation

Project, Series 2025B, (AMT), (Mandatory Put 6/01/32)

.625

06/01/55

3,841,486

50,000,000

(e),(f)

Black Belt Energy Gas District, Alabama, Gas PrePay Revenue

Bonds, Project 7 Series 2022C-2, (Mandatory Put 6/01/29)

(SOFR\*0.67% + 2.150%), (UB)

.071

02/01/53

51,612,495

2,220,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2024A, (Mandatory Put 9/01/32)

.250

05/01/55

2,422,086

5,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2024C, (Mandatory Put 7/01/31)

.000

05/01/55

5,429,310

4,525,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025A

.000

05/01/31

4,684,498

59,230,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025A, (Mandatory Put 5/01/32)

.250

05/01/56

61,642,947

1,645,000

Hoover Industrial Development Board, Alabama,

Environmental Improvement Revenue Bonds, United States

Steel Corporation Proejcet, Green Series 2020, (AMT),

(Mandatory Put 11/01/30)

.375

11/01/50

1,809,448

5,125,000

Hoover Industrial Development Board, Alabama,

Environmental Improvement Revenue Bonds, United States

Steel Corporation Proejcet, Series 2019, (AMT)

.750

10/01/49

5,179,834

200,000

MidCity Improvement District, Alabama, Special Assessment

Revenue Bonds, Series 2022

.875

11/01/27

196,315

5,955,000

(g) Montgomery Medical Clinic Board, Alabama, Health Care

Facility Revenue Bonds, Jackson Hospital & Clinic, Series 2015

.000

03/01/33

1,786,500

7,350,000

(g) Montgomery Medical Clinic Board, Alabama, Health Care

Facility Revenue Bonds, Jackson Hospital & Clinic, Series 2015

.000

03/01/36

2,205,000

50,000,000

(e),(f)

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 3, Fixed Rate Series 2022A-1,

(Mandatory Put 12/01/29) (SOFR\*0.67% + 2.420%), (UB)

.361

01/01/53

52,414,590

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ALABAMA

(continued)

$

4,000,000

(d) Tuscaloosa County Industrial Development Authority,

Alabama, Gulf Opportunity Zone Bonds, Hunt Refining Project,

Refunding Series 2019A

.250

%

05/01/44

$

3,990,403

TOTAL ALABAMA

203,783,853

ALASKA - 0.0%

260,000

Northern Tobacco Securitization Corporation, Alaska, Tobacco

Settlement Asset-Backed Bonds, Senior Series 2021A Class 1

.000

06/01/41

239,422

TOTAL ALASKA

239,422

ARIZONA - 2.2%

24,815,000

(e),(f)

Arizona Health Facilities Authority, Hospital Revenue Bonds,

Banner Health Systems, Series 2007B (LIBOR 3 M + 0.810%),

(UB)

.870

01/01/37

24,319,303

1,485,000

(d),(e)

Arizona Health Facilities Authority, Hospital Revenue Bonds,

Banner Health Systems, Tender Option Bond Trust Series 2023-

XF3088, (IF)

.253

01/01/37

1,385,821

1,485,000

(d),(e)

Arizona Health Facilities Authority, Hospital Revenue Bonds,

Banner Health Systems, Tender Option Bond Trust Series 2023-

XF3088, (IF)

.297

01/01/37

1,385,921

2,975,000

(d),(e)

Arizona Health Facilities Authority, Hospital Revenue Bonds,

Banner Health Systems, Tender Option Bond Trust Series 2023-

XF3088, (IF)

.302

01/01/37

2,776,741

2,975,000

(d),(e)

Arizona Health Facilities Authority, Hospital Revenue Bonds,

Banner Health Systems, Tender Option Bond Trust Series 2023-

XF3088, (IF)

.302

01/01/37

2,776,741

500,000

(d) Arizona Industrial Development Authority, Arizona, Education

Facility Revenue Bonds, Basis Schools, Inc. Projects, Series

2017D

.000

07/01/37

501,672

425,000

(d) Arizona Industrial Development Authority, Arizona, Education

Facility Revenue Bonds, Somerset Academy of Las Vegas

Aliante and Skye Canyon Campus Projects, Series 2021A

.000

12/15/31

398,734

385,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Arizona Agribusiness and Equine Center, Inc.

Project, Series 2017B

.000

03/01/27

383,488

110,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Academies of Math & Science Projects, Series

2022

.000

07/01/32

112,882

1,245,000

Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, KIPPC NYC Public Charter Schools - Jerome

Facility Project, Social Series 2021B

.000

07/01/41

1,112,617

550,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Leman Academy of Excellence - Parker

Colorado Campus Project, Series 2019A

.500

07/01/29

550,588

3,435,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Leman Academy of Excellence - Parker

Colorado Campus Project, Series 2019A

.000

07/01/49

3,081,701

245,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Mater Academy of Nevada - Mountain Vista

Campus Project, Series 2018A

.750

12/15/28

247,450

680,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Pinecrest Academy of Nevada Horizon,

Inspirada and St. Rose Campus Projects, Series 2018A

.750

07/15/38

684,637

305,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Pinecrest Academy-Cadence Campus Project,

Series 2020A

.000

07/15/30

305,689

1,120,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, San Tab Charter Schools Project, Series 2025

.125

02/01/40

1,132,905

640,000

(d) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, San Tab Charter Schools Project, Series 2025

.625

02/01/45

643,606

30,885,000

(d) Arizona Industrial Development Authority, Arizona, Hotel

Revenue Bonds, Provident Group Falcon Properties LLC,

Project, Senior Series 2022A-1

.000

12/01/41

23,457,479

1,825,000

(d),(g)

Arizona Industrial Development Authority, Education Facility

Revenue Bonds, Caurus Academy Project, Series 2018A

.850

06/01/29

1,277,500

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

945,000

Arizona Industrial Development Authority, Multifamily Housing

Revenue Bonds, Bridgewater Avondale Project, Series 2017

.750

%

01/01/28

$

899,039

7,820,000

(d) Arizona Industrial Development Authority, Revenue Bonds,

Mirabella at ASU Project, Refunding Series 2023B, (Mandatory

Put 1/01/27)

.350

10/01/28

7,421,110

5,675,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2019, (AMT), (Mandatory Put 6/01/29)

.000

06/01/49

5,795,515

550,000

(d) Coconino County Industrial Development Authority, Arizona,

Education Revenue Bonds, Flagstaff Arts & Leadership

Academy Project, Refunding Series 2020

.750

07/01/30

535,616

540,000

(d) Maricopa County Industrial Development Authority, Arizona,

Charter School Revenue Bonds, Paradise Schools Project,

Series 2025

.625

07/01/45

537,519

250,000

(d) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Arizona Autism Charter Schools

Project, Social Series 2021A

.000

07/01/31

249,674

1,325,000

(d) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Benjamin Franklin Charter School

Projects, Series 2018A

.800

07/01/28

1,356,776

650,000

(d) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Legacy Traditional Schools Projects,

Series 2021A

.000

07/01/31

622,302

385,000

(d) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Legacy Traditional Schools Projects,

Series 2021A

.000

07/01/41

339,059

4,545,000

Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Legacy Traditional Schools Projects,

Series 2024

.000

07/01/34

4,461,399

1,745,000

(d) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Sun Valley Academy, Series 2024A

.250

07/01/34

1,783,849

2,885,000

(d) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Sun Valley Academy, Series 2024A

.250

07/01/44

2,925,100

65,000

(d) Maricopa County Industrial Development Authority, Arizona,

Educational Facilities Revenue Bonds, Ottawa University

Projects, Series 2020

.000

10/01/26

64,239

425,000

(d) Maricopa County Industrial Development Authority, Arizona,

Educational Facilities Revenue Bonds, Ottawa University

Projects, Series 2020

.125

10/01/30

407,809

11,500,000

Maricopa County Pollution Control Corporation, Arizona,

Pollution Control Revenue Bonds, El Paso Electric Company

Palo Verde Project, Refunding Series 2012A

.500

08/01/42

11,200,644

1,085,000

(d) Phoenix Industrial Development Authority, Arizona, Education

Facility Revenue Bonds, Northwest Christian School Project,

Series 2020A

.000

09/01/45

933,786

1,175,000

Phoenix Industrial Development Authority, Arizona, Education

Facility Revenue Bonds, Villa Montessori, Inc. Projects, Series

2015

.000

07/01/45

1,117,673

1,805,000

Phoenix Industrial Development Authority, Arizona, Multi-

Family Housing Revenue Bonds, 3rd and Indian Road Assisted

Living Project, Series 2016

.400

10/01/36

1,433,553

535,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, American Leadership

Academy Project, Series 2019

.000

06/15/34

535,181

660,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, American Leadership

Academy Project, Series 2019

.000

06/15/39

654,727

6,995,000

(d),(g)

Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Edkey Charter Schools

Project, Refunding Series 2020

.000

07/01/30

5,596,000

595,000

(g) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Edkey Charter Schools

Project, Series 2016

.375

07/01/26

476,000

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ARIZONA

(continued)

$

600,000

(d),(g)

Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Edkey Charter Schools

Project, Series 2019

.125

%

07/01/30

$

480,000

1,870,000

(d),(g)

Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Edkey Charter Schools

Project, Series 2019

.500

07/01/40

1,496,000

300,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Imagine East Mesa Charter

Schools Project, Series 2019

.000

07/01/29

301,965

425,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Imagine East Mesa Charter

Schools Project, Series 2019

.000

07/01/34

426,082

575,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Imagine East Mesa Charter

Schools Project, Series 2019

.000

07/01/39

557,950

1,685,000

(h) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Leading Edge Academy

Maricopa Charter School Project, Series 2013, (Pre-refunded

12/01/25)

.750

12/01/43

1,697,489

630,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, San Tan Montessori School

Project, Series 2017

.125

02/01/28

642,282

1,690,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Synergy Public Charter

School Project, Series 2020

.000

06/15/35

1,682,921

2,345,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Synergy Public Charter

School Project, Series 2020-1

.000

06/15/35

2,335,177

230,000

Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, The Paideia Academies

Project, 2019

.125

07/01/29

226,221

5,185,000

Pima County Industrial Development Authority, Arizona,

Education Revenue Bonds, Arizona Charter Schools Refunding

Project, Series 2016R

.000

07/01/31

5,209,941

100,000

Salt Verde Financial Corporation, Arizona, Senior Gas Revenue

Bonds, Citigroup Energy Inc Prepay Contract Obligations,

Series 2007

.000

12/01/37

107,428

384,000

(d) Show Low Bluff Community Facilities District, Show Low,

Arizona, Special Assessment Bonds, Area One, Series 2007

.600

07/01/31

384,586

1,250,000

(d) Sierra Vista Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, American Leadership

Academy Project, Series 2024

.000

06/15/34

1,294,073

1,000,000

(d) Sierra Vista Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Flagstaff Junior Academy

Project, Series 2025

.750

06/01/45

1,009,701

285,000

Southside Community Facilities District 1, Prescott Valley,

Arizona, Special Assessment Revenue Bonds, Series 2008

.250

07/01/32

265,113

790,000

(d) Tempe Industrial Development Authority, Arizona, Revenue

Bonds, Mirabella at ASU Project, Series 2017A

.500

10/01/27

739,287

10,000

(d) Tempe Industrial Development Authority, Arizona, Revenue

Bonds, Mirabella at ASU Project, Series 2017A

.000

10/01/37

7,523

TOTAL ARIZONA

134,745,784

ARKANSAS - 0.5%

14,085,000

(d) Arkansas Development Finance Authority, Arkansas,

Environmental Improvement Revenue Bonds, United States

Steel Corporation, Green Series 2022, (AMT)

.450

09/01/52

14,081,959

17,410,000

Arkansas Development Finance Authority, Arkansas,

Environmental Improvement Revenue Bonds, United States

Steel Corporation, Green Series 2023, (AMT)

.700

05/01/53

17,684,411

415,000

(d) Arkansas Development Finance Authority, Charter School

Revenue Bonds, Academy of Math and Science - Little Rock

Project Taxable Series 2024B

.500

07/01/28

420,509

TOTAL ARKANSAS

32,186,879

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA - 7.0%

$

7,215,000

Antelope Valley Healthcare District, California, Revenue Bonds,

Series 2016A

.000

%

03/01/31

$

7,244,571

8,015,000

Antelope Valley Healthcare District, California, Revenue Bonds,

Series 2016A

.250

03/01/36

8,048,216

1,000,000

(d),(e),(f)

Bay Area Toll Authority, California, Revenue Bonds, San

Francisco Bay Area Toll Bridge, Tender Option Bond Trust

2016-XG0019, Formerly Tender Option Bond Trust 4740

(SIFMA + 1.250%), (IF)

.240

04/01/36

976,231

6,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2021A,

(Mandatory Put 12/01/27)

.000

10/01/52

6,138,446

9,455,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023C,

(Mandatory Put 10/01/31)

.250

01/01/54

10,092,093

5,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023G,

(Mandatory Put 4/01/30)

.250

11/01/54

5,423,955

5,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024A,

(Mandatory Put 4/01/32)

.000

05/01/54

5,407,420

5,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024C,

(Mandatory Put 10/01/32)

.000

08/01/55

5,393,395

5,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024G,

(Mandatory Put 8/01/32)

.000

11/01/55

5,296,656

14,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025D,

(Mandatory Put 7/01/34)

.000

10/01/55

15,067,329

50,000,000

(e),(f)

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green SIFMA Index Rate Series

2022A-1, (Mandatory Put 8/01/28) (SOFR\*0.67% + 1.700%),

(UB)

.621

05/01/53

50,275,695

14,700,000

(d) California Community Housing Agency, Workforce Housing

Revenue Bonds, Annadel Apartments, Series 2019A

.000

04/01/49

11,911,144

250,000

(d) California Enterprise Development Authority, Charter School

Revenue Bonds, Rocklin Academy Project, Refunding Series

2021A

.000

06/01/36

235,515

630,000

(d) California Enterprise Development Authority, Charter School

Revenue Bonds, Rocklin Academy Project, Refunding Series

2021A

.000

06/01/51

504,248

7,120,000

California Health Facilities Financing Authority, California,

Revenue Bonds, Sutter Health, Refunding Series 2016B

.000

11/15/46

7,157,905

225,000

California Health Facilities Financing Authority, Revenue Bonds,

Children's Hospital Los Angeles, Series 2017A

.000

08/15/34

225,563

1,000,000

California Health Facilities Financing Authority, Revenue Bonds,

Children's Hospital Los Angeles, Series 2017A

.000

08/15/47

978,060

8,750,000

California Housing Finance Agency, California, Multifamily

Housing Revenue Bonds, Power Station Block 7B, Limited

Obligation Senior Series 2024L

.200

12/01/27

8,930,228

14,239

California Housing Finance Agency, Municipal Certificate

Revenue Bonds, Class A Series 2021-1

.500

11/20/35

13,914

16,705,000

(d) California Infrastructure and Economic Development Bank,

Revenue Bonds, Brightline West Passenger Rail Project, Green

Bond Series 2025A, (AMT), (Mandatory Put 1/01/35)

.500

01/01/65

15,300,814

110,000

California Municipal Finance Authority Charter School Revenue

Bonds, John Adams Academies, Inc. Project, Series 2015A

.500

10/01/25

110,000

270,000

(d) California Municipal Finance Authority Charter School Revenue

Bonds, River Charter Schools Project, Series 2018A

.500

06/01/28

270,186

180,000

(d) California Municipal Finance Authority, Revenue Bonds,

Creative Center of Los Altos Project Pinewood & Oakwood

Schools, Series 2016B

.000

11/01/26

180,139

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

900,000

(d) California Municipal Finance Authority, Charter School Lease

Revenue Bonds, Bella Mente Montessori Academy Project,

Series 2018A

.000

%

06/01/28

$

914,687

170,000

(d) California Municipal Finance Authority, Charter School Lease

Revenue Bonds, Nova Academy Project, Series 2016A

.000

06/15/26

168,991

1,900,000

(d) California Municipal Finance Authority, Charter School Lease

Revenue Bonds, Nova Academy Project, Series 2016A

.000

06/15/46

1,713,397

515,000

(d) California Municipal Finance Authority, Charter School

Revenue Bonds, Palmdale Aerospace Academy Project, Series

2018A

.875

07/01/28

502,574

840,000

California Municipal Finance Authority, Education Revenue

Bonds, American Heritage Foundation Project, Series 2016A

.000

06/01/36

844,419

220,000

(d) California Municipal Finance Authority, Education Revenue

Bonds, STREAM Charter Schools Project, Series 2020A

.000

06/15/41

204,194

22,696,061

(d) California Municipal Finance Authority, Multifamily Housing

Revenue Bonds, Pacific Oaks Senior Apartments, Series 2022A,

(Mandatory Put 7/01/32)

.000

07/01/57

21,441,157

1,200,000

(d) California Municipal Finance Authority, Revenue Bonds,

California Baptist University, Refunding Series 2025A

.000

11/01/35

1,265,027

350,000

(d) California Municipal Finance Authority, Revenue Bonds,

California Baptist University, Refunding Series 2025A

.125

11/01/40

358,490

175,000

(d) California Municipal Finance Authority, Revenue Bonds,

Community Health Centers of the Central Coast, Inc., Series

2021A

.000

12/01/36

180,781

350,000

California Municipal Finance Authority, Revenue Bonds,

NorthBay Healthcare Group, Series 2015

.000

11/01/27

350,225

1,425,000

California Municipal Finance Authority, Revenue Bonds,

NorthBay Healthcare Group, Series 2017A

.000

11/01/28

1,443,474

2,595,000

California Municipal Finance Authority, Revenue Bonds,

NorthBay Healthcare Group, Series 2017A

.250

11/01/29

2,635,189

1,990,000

California Municipal Finance Authority, Revenue Bonds,

NorthBay Healthcare Group, Series 2017A

.000

11/01/30

2,014,945

1,000,000

California Municipal Finance Authority, Revenue Bonds,

NorthBay Healthcare Group, Series 2017A

.250

11/01/31

1,013,923

1,000,000

(d) California Municipal Finance Authority, Revenue Bonds,

Simpson University, Series 2020A

.000

10/01/50

978,550

14,940,000

California Municipal Finance Authority, Special Facility Revenue

Bonds, United Airlines, Inc. Los Angeles International Airport

Project, Series 2019, (AMT)

.000

07/15/29

15,037,799

135,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-11 Hesperia-

Silverwood Improvement Area 1, Series 2025

.500

09/01/35

136,981

500,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-11 Hesperia-

Silverwood Improvement Area 1, Series 2025

.000

09/01/40

511,216

635,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-11 Hesperia-

Silverwood Improvement Area 1, Series 2025

.000

09/01/45

637,048

13,850,000

California Pollution Control Financing Authority, Solid Waste

Disposal Revenue Bonds, Waste Management Inc., Series

2015A-3, (AMT)

.300

07/01/40

13,849,364

1,150,000

(d) California Public Finance Authority, Charter School Lease

Revenue Bonds, California Crosspoint Academy Project, Series

2020A

.250

07/01/30

1,107,767

285,000

California Public Finance Authority, Charter School Lease

Revenue Bonds, Multicultural Learning Center Project, Series

2017A

.250

06/15/27

287,637

1,000,000

California Public Finance Authority, Senior Living Revenue

Bonds, The James, Senior Series 2024A

.700

06/01/34

1,036,634

5,500,000

California Public Finance Authority, Senior Living Revenue

Bonds, The James, Senior Series 2024A

.875

06/01/39

5,478,522

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

860,000

(d) California Public Finance Authority, University Housing

Revenue Bonds, National Campus Community Development

- Claremont Properties LLC Claremont Colleges Project,

Refunding Series 2023A

.000

%

07/01/35

$

903,082

1,375,000

(d) California Public Finance Authority, University Housing

Revenue Bonds, National Campus Community Development

- Claremont Properties LLC Claremont Colleges Project,

Refunding Series 2023A

.250

07/01/40

1,436,333

2,350,000

(d) California School Finance Authority Charter School Facility

Revenue Bonds, Grimmway Schools-Obligated Group, Series

2016A

.000

07/01/36

2,356,187

1,515,000

(d) California School Finance Authority Charter School Revenue

Bonds, California, ACE Charter Schools, Obligated Group,

Series 2016A

.500

06/01/29

1,517,783

2,755,000

(d) California School Finance Authority Charter School Revenue

Bonds, California, ACE Charter Schools, Obligated Group,

Series 2016A

.000

06/01/42

2,573,574

850,000

(d) California School Finance Authority Charter, School Revenue

Bonds, Rocketship Education, Mateo Sheedy Project, Series

2015A

.250

03/01/28

850,086

1,475,000

(d) California School Finance Authority, California, Charter School

Revenue Bonds, Aspire Public Schools, Refunding Series 2016

.000

08/01/36

1,474,999

4,125,000

(d) California School Finance Authority, California, Charter School

Revenue Bonds, Aspire Public Schools, Refunding Series 2016

.000

08/01/46

3,947,644

1,935,000

(d) California School Finance Authority, California, Charter School

Revenue Bonds, Hayward Twin Oaks Montessori Charter

School Project, Series 2024A

.500

06/15/39

1,862,602

200,000

(d) California School Finance Authority, California, Charter School

Revenue Bonds, TEACH Public Schools Obligated Group,

Series 2019A

.000

06/01/29

201,398

750,000

(d) California School Finance Authority, California, Charter School

Revenue Bonds, TEACH Public Schools Obligated Group,

Series 2019A

.000

06/01/39

738,569

2,080,000

(d) California School Finance Authority, Charter School Lease

Revenue Bonds, Pathways to College Project, Series 2023A

.250

06/15/43

2,099,516

405,000

(d) California School Finance Authority, Charter School Lease

Revenue Bonds, Pathways to College Project, Taxable Series

2023B

.500

06/15/29

418,331

1,380,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Arts in Action Charter Schools - Obligated Group,

Series 2020A

.000

06/01/30

1,380,688

10,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Aspire Public School - Obligated Group,Issue No.6,

Series 2020A

.000

08/01/42

9,845

205,000

(d) California School Finance Authority, Charter School Revenue

Bonds, CIty Charter School Obligated Group, Series 2016A

.000

06/01/26

205,912

385,000

(d),(g)

California School Finance Authority, Charter School Revenue

Bonds, Downtown College Prep - Obligated Group, Series

2016

.000

06/01/26

231,000

1,000,000

(d),(g)

California School Finance Authority, Charter School Revenue

Bonds, Downtown College Prep - Obligated Group, Series

2016

.500

06/01/31

600,000

230,000

(d),(h)

California School Finance Authority, Charter School Revenue

Bonds, Escuela Popular Charter School, Series 2017, (ETM)

.500

07/01/27

236,028

125,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Escuela Popular Charter School, Series 2017

.500

07/01/27

126,445

620,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Partnerships to Uplift Communities Project, Refunding

Social Series 2023

.000

08/01/33

640,187

500,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Partnerships to Uplift Communities Project, Refunding

Social Series 2023

.250

08/01/38

510,125

190,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Rocketship Education Obligated Group, Series 2016A

.000

06/01/26

189,597

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

490,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Rocketship Education Obligated Group, Series 2017A

.500

%

06/01/27

$

491,365

975,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Rocketship Education Obligated Group, Series 2017A

.000

06/01/34

978,807

305,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Rocketship Public Schools Obligated Group, Series

2017G

.000

06/01/30

309,932

6,865,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Russell Westbrook Why Not Academy Obligated

Group, Series 2021A

.000

06/01/61

4,775,924

240,000

California School Finance Authority, Charter School Revenue

Bonds, Santa Clarita Valley International School Project, Series

2021A

.000

06/01/31

230,646

100,000

California School Finance Authority, Charter School Revenue

Bonds, Santa Clarita Valley International School Project, Series

2021A

.000

06/01/41

80,027

2,165,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Scholarship Prep Public Schools Obligated Group,

Series 2023A

.500

06/01/43

2,130,433

250,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Social Bonds iLead Lancaster Project, Series 2021A

.000

06/01/31

243,400

435,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Social Bonds iLead Lancaster Project, Series 2021A

.000

06/01/41

404,497

1,465,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Valley International Preparatory High School Project,

Series 2022A

.000

03/01/37

1,283,633

700,000

(d) California School Finance Authority, Charter School Revenue

Bonds, Vibrant Minds Charter School Project, Series 2025

.000

04/15/35

726,969

205,000

(d) California School Finance Authority, School Facility Revenue

Bonds, Granada Hills Charter High School Obligated Group,

Series 2021A

.000

07/01/29

208,869

8,100,000

California State University, Systemwide Revenue Bonds, Series

2016A

.000

11/01/45

8,134,509

145,000

(d) California Statewide Communities Development Authority

Revenue Bonds, California Baptist University, Refunding Series

2017A

.000

11/01/32

147,818

2,750,000

California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2014A

.250

12/01/44

2,749,939

9,500,000

California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2014A

.500

12/01/54

9,499,438

1,100,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/41

1,100,413

13,765,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/46

13,029,782

3,830,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.250

12/01/56

3,696,948

10,000,000

(d) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.500

12/01/58

9,979,061

705,000

(d) California Statewide Communities Development Authority,

College Housing Revenue Bonds, National Campus

Community Development - Hooper Street LLC Project, Series

2019

.000

07/01/29

722,600

7,900,000

California Statewide Communities Development Authority,

Revenue Bonds, Adventist Health System/West, Series 2015A

.000

03/01/45

7,900,684

1,045,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Refunding Series 2015R-1

.000

09/02/26

1,046,626

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

310,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2018A

.000

%

09/02/28

$

314,563

2,150,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2018A

.000

09/02/38

2,207,539

215,000

Compton Public Finance Authority, California, Lease Revenue

Bonds, Refunding & Various Capital Projects, Series 2008 -

AMBAC Insured

.250

09/01/27

215,230

2,060,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Acacia on Santa Rosa Creek,

Mezzanine Lien Series 2021B

.000

10/01/46

1,635,000

1,175,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Renaissance at City Center,

Series 2020A

.000

07/01/51

1,092,162

2,500,000

(d) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Vineyard Gardens

Apartments, Senior Lien Series 2021A

.250

10/01/58

1,736,809

740,000

(h) Golden State Tobacco Securitization Corporation, California,

Tobacco Settlement Asset-Backed Bonds, Series 2018A-1, (Pre-

refunded 6/01/28)

.000

06/01/35

796,709

15,000,000

Inland Empire Tobacco Securitization Authority, California,

Tobacco Settlement Asset-Backed Bonds, Series 2007C-1.

Turbo Capital Appreciation

.000

06/01/36

7,141,409

89,000,000

Inland Empire Tobacco Securitization Authority, California,

Tobacco Settlement Asset-Backed Bonds, Series 2007C-2.

Turbo Capital Appreciation

.000

06/01/47

15,312,931

105,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 1, Series 2019

.350

09/01/26

105,294

125,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 1, Series 2019

.400

09/01/27

125,895

145,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 1, Series 2019

.500

09/01/28

146,880

1,120,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 1, Series 2019

.100

09/01/33

1,148,574

65,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 2, Series 2019

.350

09/01/26

65,182

80,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 2, Series 2019

.400

09/01/27

80,573

95,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 2, Series 2019

.500

09/01/28

96,258

695,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 2, Series 2019

.100

09/01/33

712,731

130,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 3, Series 2019

.350

09/01/26

130,364

155,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 3, Series 2019

.400

09/01/27

156,110

180,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 3, Series 2019

.500

09/01/28

182,383

1,390,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 3, Series 2019

.100

09/01/33

1,425,462

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

30,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 5, Series 2019

.600

%

09/01/26

$

30,095

35,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 5, Series 2019

.650

09/01/27

35,275

45,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 5, Series 2019

.750

09/01/28

45,630

335,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 5, Series 2019

.350

09/01/33

344,709

1,845,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement

Areas 5, Series 2019

.850

09/01/49

1,855,861

45,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1, Central Lathrop Specific Plan Improvement

Areas 4, Series 2019

.350

09/01/26

45,126

55,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1, Central Lathrop Specific Plan Improvement

Areas 4, Series 2019

.400

09/01/27

55,394

65,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1, Central Lathrop Specific Plan Improvement

Areas 4, Series 2019

.500

09/01/28

65,843

495,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1, Central Lathrop Specific Plan Improvement

Areas 4, Series 2019

.100

09/01/33

507,628

105,000

Long Beach Bond Finance Authority, California, Natural Gas

Purchase Revenue Bonds, Series 2007A

.500

11/15/37

118,852

6,000,000

Los Angeles Department of Airports, California, Revenue

Bonds, Los Angeles International Airport, Subordinate Lien

Series 2018A, (AMT)

.250

05/15/48

6,066,284

1,005,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2016B

.000

07/01/38

1,006,621

7,370,000

(f) Modesto Irrigation District Financing Authority, California,

Domestic Water Project Revenue Bonds, Index Rate Series

2007 - NPFG Insured (TSFR3M\*0.67% + 0.630%)

.600

09/01/37

7,070,325

690,000

ndio, California, Special Tax Bonds, Community Facilities

District 2004-3 Terra Lago, Improvement Area 1, Series 2015

.000

09/01/26

690,999

755,000

ndio, California, Special Tax Bonds, Community Facilities

District 2004-3 Terra Lago, Improvement Area 1, Series 2015

.000

09/01/28

755,975

100,000

Palm Desert, California, Special Tax Bonds, Community

Facilities District 2021-1 University Park, Series 2021

.000

09/01/31

96,819

110,000

Palm Desert, California, Special Tax Bonds, Community

Facilities District 2021-1 University Park, Series 2021

.000

09/01/41

103,059

525,000

Perris Joint Powers Authority, California, Local Agency Revenue

Bonds, Community Facilities District 2001-1 May Farms

Improvement Area 6 &7, Refunding Series 2014E

.000

09/01/26

525,859

100,000

Poway Unified School District, San Diego County, California,

Special Tax Bonds, Community Facilities District 15 Del Sur East

Improvement Area C, Series 2016

.000

09/01/26

102,083

700,000

Rancho Cordova, California, Special Tax Bonds, Community

Facilities District 2018-1 Grantline 208, Series 2021B

.000

09/01/41

646,851

190,000

Roseville, California, Special Tax Bonds, Community Facilities

District 1 Hewlett Parkard Campus Oaks, Series 2016

.000

09/01/26

191,543

30,000,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2016B,

(AMT)

.000

05/01/46

30,000,948

150,000

(d) San Francisco City and County Infrastructure and Revitalization

Financing District 1 Treasure Island, California, Tax Increment

Revenue Bonds, Facilities Increment Series 2022A

.000

09/01/27

156,180

400,000

(d) San Francisco City and County Infrastructure and Revitalization

Financing District 1 Treasure Island, California, Tax Increment

Revenue Bonds, Facilities Increment Series 2022A

.000

09/01/32

435,680

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

385,000

(d) San Francisco City and County Infrastructure and Revitalization

Financing District 1 Treasure Island, California, Tax Increment

Revenue Bonds, Facilities Increment Series 2022A

.000

%

09/01/37

$

403,815

1,050,000

(d) San Francisco City and County, California, Special Tax

Bonds, Community Facilities District 2016-1 Treasure Island

Improvement Area 2, Series 2022A

.000

09/01/32

1,065,208

30,000

San Jacinto, California, Special Tax Bonds, Community Facilities

District 2002-1 Rancho San Jacinto Phase 2, Series 2016

.000

09/01/30

30,447

100,000

(d) Temecula Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 16-01, Series 2017

.500

09/01/27

103,735

375,000

Tracy, California, Special Tax Bonds, Community Facilities

District 2016-2, Improvement Area 2, Series 2021

.000

09/01/36

376,046

TOTAL CALIFORNIA

421,437,913

COLORADO - 8.7%

1,250,000

(d) Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2024

.500

12/01/44

1,224,265

1,750,000

(d) Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2024

.750

12/01/54

1,729,164

2,011,854

Alpine Mountain Ranch Metropolitan District, Routt County,

Colorado, Special Assessment Revenue Bonds, Special

Improvement District 1, Refunding Series 2021

.000

12/01/40

1,818,616

3,632,084

Alpine Mountain Ranch Metropolitan District, Routt County,

Colorado, Special Assessment Revenue Bonds, Special

Improvement District 2, Series 2021

.000

12/01/40

3,275,996

3,870,000

Arista Metropolitan District, Broomfield County, Colorado,

General Obligation Limited Tax Bonds, Refunding and

Improvement Series 2023B

.250

12/15/39

3,902,726

115,000

(h) Arkansas River Power Authority, Colorado, Power Revenue

Bonds, Series 2006 - SYNCORA GTY Insured, (ETM)

.875

10/01/26

116,611

2,605,000

Aurora Highlands Community Authority Board, Adams

County, Colorado, Special Tax Revenue Bonds, Refunding &

Improvement Series 2021A

.750

12/01/51

2,463,259

678,000

Aviation Station North Metropolitan District 2, Denver County,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2019A

.000

12/01/29

678,565

2,530,000

Base Village Metropolitan District 2, Colorado, General

Obligation Bonds, Refunding Series 2016A

.750

12/01/46

2,530,504

7,570,000

(d) Bella Mesa Metropolitan District, Castle Rock, Colorado,

Limited Tax General Obligation Bonds, Convertible Capital

Appreciation Series 2020A-3

.750

12/01/49

7,703,670

635,000

Bennett Ranch Metropolitan District 1, Adams County,

Colorado, General Obligation Limited Tax Bonds, Convertible

to Unlimited Tax Series 2021A

.000

12/01/51

536,012

525,000

Berthoud-Heritage Metropolitan District 10, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Senior Series

2022A

.250

12/01/31

501,518

1,565,000

Berthoud-Heritage Metropolitan District 10, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Senior Series

2022A

.500

12/01/41

1,348,169

1,500,000

Bradley Heights Metropolitan District 2, Colorado Springs, El

Paso County, Colorado, General Obligation Limited Tax Bonds,

Series 2021A-3

.750

12/01/51

1,166,991

4,380,000

Broadway Station Metropolitan District 2, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Series 2019A

.000

12/01/35

3,944,841

20,625,000

Broadway Station Metropolitan District 2, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Series 2019A

.125

12/01/48

16,442,710

6,151,000

Broadway Station Metropolitan District 3, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Series 2019A

.000

12/01/39

5,327,477

12,050,000

Broadway Station Metropolitan District 3, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Series 2019A

.000

12/01/49

9,220,079

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

4,985,000

Broadway Station Metropolitan District 3, Denver County,

Colorado, Tax Increment Supported Revenue Bonds, Series

2023A

.000

%

12/15/32

$

4,985,783

180,000

Cathedral Pines Metropolitan District, El Paso County,

Colorado, General Obligation Bonds, Refunding Series 2016

.000

12/01/26

180,347

854,000

Clear Creek Transit Metropolitan District 2, Adams County,

Colorado, Revenue Supported Limited Tax General Obligation

Bonds, Series 2021A

.000

12/01/31

761,959

765,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds World Compass Academy Project,

Series 2017

.625

10/01/27

758,620

4,350,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds World Compass Academy Project,

Series 2017

.375

10/01/37

3,939,943

130,000

(d) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Aspen Ridge School Project, Series

2015A

.125

07/01/26

129,999

845,000

(d) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Belle Creek Charter School, Series

2022A

.000

03/15/32

856,972

1,935,000

(d) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Belle Creek Charter School, Series

2022A

.125

03/15/42

1,858,208

45,000

(d) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Belle Creek Charter School, Taxable

Series 2022B

.250

03/15/26

44,893

600,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, Union Colony School Project, Series

2018

.000

04/01/38

611,433

9,250,000

(d) Colorado Educational and Cultural Facilities Authority, Cultural

Facilities Revenue Bonds, Stanley Project, Senior Lien Series

2025A-1

.500

02/01/45

9,533,004

4,000,000

(d) Colorado Educational and Cultural Facilities Authority, Cultural

Facilities Revenue Bonds, Stanley Project, Senior Lien Series

2025A-1

.875

02/01/59

4,156,185

6,000,000

(d) Colorado Educational and Cultural Facilities Authority, Cultural

Facilities Revenue Bonds, Stanley Project, Taxable Senior Lien

Series 2025A-2

.000

02/01/45

6,153,041

1,660,000

(d) Colorado Educational and Cultural Facilities Authority,

Revenue Bonds, Global Village Academy - Northglenn Project,

Series 2020

.000

12/01/40

1,561,458

2,210,000

(d) Colorado Educational and Cultural Facilities Authority,

Revenue Bonds, Global Village Academy - Northglenn Project,

Series 2020

.000

12/01/50

1,944,707

1,205,000

(d) Colorado Educational and Cultural Facilities Authority, Revenue

Bonds, Rocky Mountain Classical Academy Project, Refunding

Series 2019

.000

10/01/29

1,230,207

2,270,000

(d) Colorado Educational and Cultural Facilities Authority, Revenue

Bonds, Rocky Mountain Classical Academy Project, Refunding

Series 2019

.000

10/01/39

2,241,977

3,520,000

(d) Colorado Educational and Cultural Facilities Authority, Revenue

Bonds, Rocky Mountain Classical Academy Project, Refunding

Series 2019

.000

10/01/59

3,093,042

3,000,000

(g) Colorado Health Facilities Authority, Colorado, Revenue Bonds,

American Baptist Homes of the Midwest Obligated Group,

Series 2013

.000

08/01/43

1,895,762

375,000

(d),(g)

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

American Baptist Homes Project, Series 2016

.000

02/01/27

333,750

280,000

(d),(g)

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Sunny Vista Living Center Project, Refunding & Improvement

Series 2015A

.000

12/01/25

273,663

750,000

(d),(g)

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Sunny Vista Living Center Project, Refunding & Improvement

Series 2015A

.500

12/01/30

585,888

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

1,000,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Valley View Hospital Association, Series 2015

.000

%

05/15/40

$

1,000,427

500,000

Colorado International Center Metropolitan District 14, Denver,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2018

.625

12/01/32

502,515

363,000

Colorado International Center Metropolitan District 3, Aurora,

Colorado, General Obligation Limited Tax Bonds, Refunding &

Improvement Series 2016

.625

12/01/31

355,954

4,405,000

Confluence Metropolitan District, Eagle County, Colorado,

Limited Tax Supported Revenue Bonds, Subordinate Series

2021B

.500

12/15/50

4,065,942

1,770,000

Copperleaf Metropolitan District 5, Arapahoe County,

Colorado, Limited Tax General Obligation Bonds, Refunding

Limited Tax Convertible to Unlimited Tax Series 2025A

.250

12/01/35

1,761,678

1,000,000

Copperleaf Metropolitan District 5, Arapahoe County,

Colorado, Limited Tax General Obligation Bonds, Refunding

Limited Tax Convertible to Unlimited Tax Series 2025A

.250

12/01/45

998,399

1,000,000

Cornerstar Metropolitan District, Arapahoe County, Colorado,

General Obligation Bonds, Limited Tax Convertible to

Unlimited Tax, Refunding Series 2017A

.125

12/01/37

993,716

268,000

Crystal Crossing Metropolitan District, Colorado, General

Obligation Limited Tax Bonds, Refunding Series 2016

.500

12/01/26

268,223

5,230,000

(d) Dawson Trails Metropolitan District 1, Castle Rock, Colorado,

Limited Tax General Obligation Bonds, Subordinate Series

2025B

.250

12/15/55

4,996,896

10,835,000

Dawson Trails Metropolitan District 1, Colorado, In The

Town of Castle Rock, Limited Tax General Obligation Capital

Appreciation Turbo Bonds, Series 2024

.000

12/01/31

6,840,356

2,286,000

Denver International Business Center Metropolitan District 1,

Denver, Colorado, General Obligation Bonds, Subordinate

Limited Tax Series 2019B

.000

12/01/48

2,299,047

1,540,000

(d) Denver Urban Renewal Authority, Colorado, Tax Increment

Revenue Bonds, 9th and Colorado Urban Redevelopement

Area, Series 2018A

.250

12/01/39

1,543,069

440,000

(d) Denver Urban Renewal Authority, Colorado, Tax Increment

Revenue Bonds, 9th and Colorado Urban Redevelopement

Area, Series 2018A

.250

12/01/39

440,630

457,000

(d) DIATC Metropolitan District, Commerce City, Adams County,

Colorado, General Obligation Limited Tax Bonds, Refunding &

Improvement Series 2019

.250

12/01/29

436,116

482,000

(d) Elbert and Highway 86 Commercial Metropolitan District,

Elbert County, Colorado, Special Revenue and Tax Supported

Bonds, Refunding & Improvement Senior Series 2021A

.750

12/01/29

470,654

1,700,000

(d) Elbert and Highway 86 Commercial Metropolitan District,

Elbert County, Colorado, Special Revenue and Tax Supported

Bonds, Refunding & Improvement Senior Series 2021A

.000

12/01/41

1,685,985

2,975,000

Erie Urban Renewal Authority, Colorado, Tax Increment

Revenue Bonds, Series 2021

.000

12/01/38

2,528,594

22,750,000

(d) Falcon Area Water and Wastewater Authority (El Paso County,

Colorado), Tap Fee Revenue Bonds, Series 2022A

.750

12/01/34

22,821,910

305,000

Fiddler's Business Improvement District, Colorado, Limited Tax

General Obligation Bonds, Greenwood Village Project, Series

2022

.000

12/01/32

314,080

1,000,000

Fiddler's Business Improvement District, Colorado, Limited Tax

General Obligation Bonds, Greenwood Village Project, Series

2022

.550

12/01/47

1,008,727

3,800,000

Foothills Metropolitan District, Fort Collins, Colorado, Special

Revenue Bonds, Series 2014

.000

12/01/38

3,663,047

7,900,000

Fourth North Business Improvement District, Silverthorne,

Summit County, Colorado, Special Revenue and Tax Supported

Bonds, Refunding & Improvement Senior Series 2022A

.250

12/01/32

7,991,642

4,020,000

Fourth North Business Improvement District, Silverthorne,

Summit County, Colorado, Special Revenue and Tax Supported

Bonds, Refunding & Improvement Senior Series 2022A

.500

12/01/42

4,000,104

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

1,990,000

(d) Future Legends Sports Park Metropolitan District 2, Colorado,

Limited Tax General Obligation Bonds, Series 2020A

.500

%

06/01/50

$

1,497,076

1,540,000

(d) Granary Metropolitan District 9, Weld County, Colorado,

Special Assessment Revenue Bonds, Special Improvement

District 1, Series 2024

.450

12/01/44

1,518,825

3,035,000

Grand Junction Dos Rios General Improvement District, Grand

Junction, Mesa County, Colorado, Special Revenue Bonds,

Series 2021

.000

12/01/31

2,826,023

3,075,000

Grand Junction Dos Rios General Improvement District, Grand

Junction, Mesa County, Colorado, Special Revenue Bonds,

Series 2021

.500

12/01/41

2,536,292

1,170,000

Green Valley Ranch East Metropolitan District 6, Adams

County, Colorado, Limited Tax General Obligation Bonds,

Series 2020A-3

.250

12/01/32

1,190,553

9,650,000

Green Valley Ranch East Metropolitan District 6, Adams

County, Colorado, Limited Tax General Obligation Bonds,

Series 2020A-3

.875

12/01/50

9,752,762

4,195,000

(d) Hess Ranch Metropolitan District 5, Parker, Colorado, Special

Assessment Revenue Bonds, Special Improvement District 2,

Series 2024

.500

12/01/44

4,191,258

1,288,000

Highlands Metropolitan District 1, Broomfield City and County,

colorado, Limited Tax General Obligation Bonds, Convertible

to Unlimited Tax Series 2021

.000

12/01/31

1,212,892

550,000

Highlands Metropolitan District 1, Broomfield City and County,

colorado, Limited Tax General Obligation Bonds, Convertible

to Unlimited Tax Series 2021

.000

12/01/41

506,108

5,070,000

Hillside at Castle Rock Metropolitan District, Douglas County,

Colorado, Limited Tax General Obligation Bonds, Series 2022A

.250

12/01/47

5,103,143

1,079,000

Hillside at Castle Rock Metropolitan District, Douglas County,

Colorado, Limited Tax General Obligation Bonds, Subordinate

Series 2022B

.000

12/15/47

1,082,271

530,000

Independence Water & Sanitation District, Elbert County,

Colorado, Special Revenue Bonds, Refunding and

Improvement Series 2024

.125

12/01/33

545,966

330,000

Jefferson Center Metropolitan District 1, Arvada, Jefferson

County, Colorado, Special Revenue Bonds, Series 2020-A2

.125

12/01/40

302,018

3,000,000

Jefferson Center Metropolitan District 1, Arvada, Jefferson

County, Colorado, Special Revenue Bonds, Subordinate Series

2020B

.750

12/15/50

3,006,157

1,000,000

(d),(i)

Kinston Metropolitan District 5, Loveland, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Refunding

and Improvement Series 2025A

.000

12/01/35

1,027,594

3,030,000

(d),(i)

Kinston Metropolitan District 5, Loveland, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Refunding

and Improvement Series 2025A

.500

12/01/45

3,040,983

1,760,000

(d) Kremmling Memorial Hospital District, Colorado, Certificates of

Participation, Series 2024

.000

12/01/29

1,772,083

2,830,000

(d) Kremmling Memorial Hospital District, Colorado, Certificates of

Participation, Series 2024

.125

12/01/34

2,805,001

6,290,000

(d) Kremmling Memorial Hospital District, Colorado, Certificates of

Participation, Series 2024

.125

12/01/44

5,980,598

2,500,000

Lanterns Metropolitan District 2, Castle Rock, Douglas County,

Colorado, Limited Tax General Obligation Bonds, Series

2021A-3

.500

12/01/50

1,897,206

3,885,000

(d) Ledge Rock Center Commercial Metropolitan District (In the

Town of Johnstown, Weld County, Colorado), Limited Tax

General Obligation Bonds, Series 2022

.500

11/01/32

4,181,648

14,550,000

(d) Ledge Rock Center Commercial Metropolitan District (In the

Town of Johnstown, Weld County, Colorado), Limited Tax

General Obligation Bonds, Series 2022

.125

11/01/42

15,153,788

825,000

Legato Community Authority, Colorado, Commerce City

Colorado Limited Tax Supported Revenue Bonds District 12 3

& 7 Series 2021A-1

.000

12/01/41

747,069

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

3,250,000

Mayberry Community Authority, Colorado Springs, El Paso

County, Colorado, Special Revenue Bonds, Series 2021A

.000

%

12/01/41

$

3,039,292

5,000,000

(d) Mayberry Springs Community Authority, El Paso County,

Colorado, Special Assessment Revenue Bonds, Special

Improvement District 1, Series 2025

.125

12/01/45

5,000,043

930,000

Meridian Ranch Metropolitan District 2018, Subdistrict, El Paso

County, Colorado, General Obligation Limited Tax Bonds,

Series 2022

.250

12/01/37

949,422

1,100,000

Meridian Ranch Metropolitan District 2018, Subdistrict, El Paso

County, Colorado, General Obligation Limited Tax Bonds,

Series 2022

.500

12/01/42

1,113,103

1,000,000

Mountain Brook Metropolitan District, Longmont, Boulder

County, Colorado, Limited Tax General Obligation Bonds,

Series 2021

.500

12/01/41

836,492

427,000

Mountain Shadows Metropolitan District, Colorado, General

Obligation Limited Tax Bonds, Refunding Series 2016

.000

12/01/26

426,843

2,000,000

North Range Metropolitan District 3, Adams County, Colorado,

Limited Tax General Obligation Bonds, Series 2020A-3

.000

12/01/40

2,003,653

3,690,000

(g) Painted Prairie Public Improvement Authority, Aurora,

Colorado, Special Revenue Bonds, Series 2019

.000

12/01/29

3,401,630

6,160,000

(g) Painted Prairie Public Improvement Authority, Aurora,

Colorado, Special Revenue Bonds, Series 2019

.000

12/01/49

5,469,300

885,000

Parterre Metropolitan District 5, Thornton, Adams County,

Colorado, General Obligation Limited Tax Bonds, Series 2025A

.125

12/01/35

927,523

1,000,000

Parterre Metropolitan District 5, Thornton, Adams County,

Colorado, General Obligation Limited Tax Bonds, Series 2025A

.875

12/01/45

1,036,832

2,040,000

(d) Peak Metropolitan District 1, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Bonds, Series 2021A

.000

12/01/35

1,812,860

2,900,000

(d) Peak Metropolitan District 1, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Bonds, Series 2021A

.000

12/01/51

2,421,821

3,950,000

(j) Peak Metropolitan District 3, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Convertible Capital

Appreciation Bonds, Series 2022A-2

.000

12/01/42

2,673,795

15,869,000

Pioneer Community Authority Board (Weld County, Colorado),

Special Revenue Bonds, Series 2022

.500

12/01/34

15,345,440

500,000

Prairie Center Metropolitan District No. 3, In the City of

Brighton, Adams County, Colorado, Limited Property Tax

Supported District Improvements Revenue Bonds, Refunding

Series 2024B

.875

12/15/46

521,810

525,000

Pronghorn Valley Metropolitan District, Aurora, Colorado,

Limited Tax General Obligatoin Bonds, Convertible to

Unlimited Tax Series 2021A

.750

12/01/41

447,323

370,000

Public Authority for Colorado Energy, Natural Gas Purchase

Revenue Bonds, Colorado Springs Utilities, Series 2008

.250

11/15/28

387,232

14,185,000

Public Authority for Colorado Energy, Natural Gas Purchase

Revenue Bonds, Colorado Springs Utilities, Series 2008

.500

11/15/38

17,158,177

19,380,000

(d) Pueblo Urban Renewal Authority, Colorado, Tax Increment

Revenue Bonds, EVRAZ Project, Series 2021A

.750

12/01/45

18,129,052

200,000

Red Sky Ranch Metropolitan District, Eagle County, Colorado,

General Obligation Bonds, Refunding & Improvement Series

2015

.250

12/01/28

199,989

335,000

Red Sky Ranch Metropolitan District, Eagle County, Colorado,

General Obligation Bonds, Refunding & Improvement Series

2015

.375

12/01/30

333,841

4,650,000

Redtail Ridge Metropolitan District, City of Louisville, Boulder

County, Colorado, General Obligation Limited Tax Capital

Appreciation Turbo Bonds, Series 2025

.000

12/01/32

2,864,122

3,365,000

Riverwalk Metropolitan District 2, Glendale, Arapahoe County,

Colorado, Special Revenue Bonds, Series 2022A

.500

12/01/32

3,160,450

9,560,000

Riverwalk Metropolitan District 2, Glendale, Arapahoe County,

Colorado, Special Revenue Bonds, Series 2022A

.000

12/01/42

8,492,394

1,500,000

RM Mead Metropolitan District, Weld County, Colorado,

Limited Tax General Obligation Bonds, Series 2020A

.250

12/01/50

1,495,119

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

13,640,000

Sagebrush Farm Metropolitan District 1, Aurora, Adams

County, Colorado, General Obligation Limited Tax Bonds,

Series 2022A

.375

%

12/01/42

$

14,138,239

6,000,000

Sagebrush Farm Metropolitan District 1, Aurora, Adams

County, Colorado, General Obligation Limited Tax Bonds,

Series 2022A

.750

12/01/52

6,169,125

1,167,000

Siena Lake Metropolitan District, Gypsum, Colorado, General

Obligation Limited Tax Bonds, Series 2021

.250

12/01/31

1,058,937

691,000

Siena Lake Metropolitan District, Gypsum, Colorado, General

Obligation Limited Tax Bonds, Series 2021

.750

12/01/41

542,115

200,000

Southlands Metropolitan District 1, Colorado, Limited Tax

General Obligation Bonds, Series 2017A-1

.500

12/01/27

197,945

1,410,000

Spring Valley Metropolitan District 4, Elbert County, Colorado,

Limited Tax General Obligation Bonds, Convertible to

Unlimited Tax Series 2020A

.000

12/01/40

1,326,299

2,000,000

Sterling Ranch Community Authority Board, Douglas County,

Colorado, Limited Tax Supported and Special Revenue Bonds,

Special District 3, Series 2022

.800

12/01/32

2,110,956

8,500,000

Sterling Ranch Community Authority Board, Douglas County,

Colorado, Limited Tax Supported and Special Revenue Bonds,

Special District 3, Series 2022

.500

12/01/42

8,964,686

1,320,000

Sterling Ranch Community Authority Board, Douglas County,

Colorado, Special Improvement Revenue Bonds, Special

District 1, Series 2024

.625

12/01/43

1,335,619

3,205,000

Sterling Ranch Metropolitan District 1, El Paso County,

Colorado, General Obligation Limited Tax Bonds, Series 2020

.000

12/01/40

3,139,847

2,000,000

Sterling Ranch Metropolitan District 1, El Paso County,

Colorado, General Obligation Limited Tax Bonds, Series 2020

.125

12/01/50

1,881,967

1,345,000

Sterling Ranch Metropolitan District 2, El Paso County,

Colorado, General Obligation Bonds, Limited Tax Convertible

Capital Appreciation Series 22

.250

12/01/32

1,375,617

5,050,000

Sterling Ranch Metropolitan District 2, El Paso County,

Colorado, General Obligation Bonds, Limited Tax Convertible

Capital Appreciation Series 22

.500

12/01/42

5,101,663

825,000

(d) Third Creek Metropolitan District 1, Commerce City, Colorado,

Limited Tax General Obligation Bonds, Series 2022A-1

.500

12/01/42

667,934

2,750,000

Transport Metropolitan District 3, In the City of Aurora, Adams

County, Colorado, General Obligation Limited Bonds, Series

2021A-1

.000

12/01/41

2,329,846

21,170,000

Transport Metropolitan District 3, In the City of Aurora, Adams

County, Colorado, General Obligation Limited Bonds, Series

2021A-1

.000

12/01/51

16,154,903

1,295,000

(d) Tree Farm Metropolitan District, Eagle County, Colorado,

General Obligation Limited Tax Bonds, Series 2021

.500

12/01/41

1,144,100

10,000,000

Velocity Metropolitan District 3, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Series 2019

.125

12/01/34

9,915,190

6,500,000

Velocity Metropolitan District 3, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Series 2019

.375

12/01/39

6,335,801

1,030,000

Verve Metropolitan District 1, Jefferson County and the City

and County of Broomfield, Colorado, General Obligation

Bonds, Refunding and Improvement Limited Tax Series 2021

.000

12/01/36

994,787

2,465,000

Verve Metropolitan District 1, Jefferson County and the City

and County of Broomfield, Colorado, General Obligation

Bonds, Refunding and Improvement Limited Tax Series 2021

.000

12/01/41

2,282,952

12,625,000

Verve Metropolitan District 1, Jefferson County and the City

and County of Broomfield, Colorado, General Obligation

Bonds, Refunding and Improvement Limited Tax Series 2021

.000

12/01/51

10,964,030

750,000

Village Metropolitan District In the Town of Avon, Eagle County,

Colorado, Special Revenue and Limited Property Tax Bonds,

Improvement Series 2025A

.750

12/01/55

747,452

9,450,000

Waterfront at Foster Lake Metropolitan District 2, Weld County,

Colorado, Special Revenue Bonds, Series 2022

.625

12/01/28

8,617,723

1,250,000

Waterview II Metropolitan District, El Paso County, Colorado,

Limited Tax General Obligation Bonds, Series 2022A

.000

12/01/41

1,236,978

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

2,850,000

Waterview II Metropolitan District, El Paso County, Colorado,

Limited Tax General Obligation Bonds, Series 2022A

.000

%

12/01/51

$

2,705,369

1,110,000

West Globeville Metropolitan District 1, Denver, Colorado,

General Obligation Limited Tax Bonds, Series 2022

.250

12/01/32

1,119,627

1,000,000

Westgate Metropolitan District, Colorado Springs, El Paso

County, Colorado, General Obligation Limited Tax Bonds,

Series 2022

.125

12/01/51

852,180

3,750,000

(d) Windler Public Improvement Authority, Aurora, Colorado,

Limited Tax Supported Revenue Bonds, Convertible Capital

Appreciation Series 2021A-2

.625

12/01/51

2,533,438

1,600,000

(d) Windler Public Improvement Authority, Aurora, Colorado,

Limited Tax Supported Revenue Bonds, Series 2021A-1

.000

12/01/31

1,538,617

14,000,000

(d) Windler Public Improvement Authority, Aurora, Colorado,

Limited Tax Supported Revenue Bonds, Series 2021A-1

.000

12/01/36

12,500,701

26,150,000

(d) Windler Public Improvement Authority, Aurora, Colorado,

Limited Tax Supported Revenue Bonds, Series 2021A-1

.000

12/01/41

21,627,049

16,500,000

(d) Windler Public Improvement Authority, Aurora, Colorado,

Limited Tax Supported Revenue Bonds, Series 2021A-1

.125

12/01/51

12,614,440

1,510,000

Windsor Highlands Metropolitan District 9, Windsor, Larimer

County, Colorado, Limited Tax Supported Revenue Bonds,

Series 2019

.000

12/01/39

1,459,990

TOTAL COLORADO

519,260,719

CONNECTICUT - 0.4%

1,450,000

(d) Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Mary Wade Home Issue, Series 2019A-1

.500

10/01/34

1,357,621

8,750,000

(d) Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Mary Wade Home Issue, Series 2019A-1

.000

10/01/54

6,746,133

765,000

(d) Connecticut Health and Educational Facilities Authority,

Revenue Bonds, McLean Affiliates, Series 2020A

.000

01/01/30

767,391

11,325,000

Stamford Housing Authority, Connecticut, Revenue

Bonds, Mozaic Concierge Living Project, Entrance Fee Prin

Redemption Series 2025D

.250

10/01/30

11,476,587

1,000,000

Stamford Housing Authority, Connecticut, Revenue Bonds,

Mozaic Concierge Living Project, Series 2025A

.500

10/01/35

1,037,401

2,000,000

Stamford Housing Authority, Connecticut, Revenue Bonds,

Mozaic Concierge Living Project, Series 2025A

.000

10/01/40

2,064,632

600,000

Steel Point Infrastructure Improvement District, Connecticut,

Special Obligation Revenue Bonds, Steelpointe Harbor Project,

Series 2021

.000

04/01/31

610,934

1,755,000

Steel Point Infrastructure Improvement District, Connecticut,

Special Obligation Revenue Bonds, Steelpointe Harbor Project,

Series 2021

.000

04/01/41

1,621,635

750,000

(d) Steel Point Infrastructure Improvement District, Connecticut,

Special Obligation Revenue Bonds, Steelpointe Harbor Project,

Series 2024

.625

04/01/44

774,399

TOTAL CONNECTICUT

26,456,733

DELAWARE - 0.1%

1,370,000

(d) Bridgeville, Delaware, Special Obligation Bonds, Heritage

Shores Special Development District, Series 2024

.250

07/01/44

1,376,006

180,000

Delaware Economic Development Authority, Delaware,

Revenue Bonds, ASPIRA of Delaware Charter Operations Inc.

DBA Las Americas ASPIRA Academy Project, Series 2022A

.000

06/01/52

134,742

185,000

Delaware Economic Development Authority, Delaware,

Revenue Bonds, ASPIRA of Delaware Charter Operations Inc.

DBA Las Americas ASPIRA Academy Project, Series 2022A

.000

06/01/57

134,379

125,000

Delaware Economic Development Authority, Revenue Bonds,

ASPIRA of Delaware Charter Operations, Inc. Project, Series

2016A

.250

06/01/26

123,862

2,000,000

(d) Milton, Delaware, Special Obligation Bonds, Granary Farm

Special Development District, Series 2024

.700

09/01/44

1,985,597

TOTAL DELAWARE

3,754,586

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

DISTRICT OF COLUMBIA - 0.2%

$

650,000

District of Columbia Revenue Bonds, Rocketship Education DC

Public Charter School Inc., Obligated Group -Issue 3, Series

2024A

.000

%

06/01/34

$

666,385

600,000

District of Columbia Revenue Bonds, Rocketship Education DC

Public Charter School Inc., Obligated Group -Issue 3, Series

2024A

.625

06/01/44

604,383

1,350,000

District of Columbia, Washington, D.C., Revenue Bonds,

Ingleside at Rock Creek Project, Series 2017A

.000

07/01/32

1,371,341

1,550,000

District of Columbia, Washington, D.C., Revenue Bonds,

Ingleside at Rock Creek Project, Series 2017A

.000

07/01/37

1,557,508

1,250,000

District of Columbia, Washington, D.C., Revenue Bonds,

Ingleside at Rock Creek Project, Series 2017A

.000

07/01/42

1,212,099

680,000

District of Columbia, Washington, D.C., Revenue Bonds,

Inspired Teaching Demonstration Public Charter School Issue,

Series 2022

.000

07/01/32

703,219

1,165,000

District of Columbia, Washington, D.C., Revenue Bonds,

Inspired Teaching Demonstration Public Charter School Issue,

Social Series 2022

.000

07/01/47

1,080,641

1,835,000

District of Columbia, Washington, D.C., Revenue Bonds,

Inspired Teaching Demonstration Public Charter School Issue,

Social Series 2022

.000

07/01/52

1,666,107

1,000,000

Metropolitan Washington D.C. Airports Authority, Airport

System Revenue Bonds, Refunding Series 2017, (AMT)

.000

10/01/36

1,019,863

TOTAL DISTRICT OF COLUMBIA

9,881,546

FLORIDA - 14.3%

65,000

A.H. at Turnpike South Community Development District,

Miami-Dade County, Florida, Special Assessment Bonds, Phase

1 Project, Series 2015

.500

11/01/25

65,075

85,000

Abbott Square Community Development District, Zephyrhills,

Florida, Special Assessment Revenue Bonds, 2022 Project

Series 2022

.500

06/15/27

85,847

1,910,000

Alachua County Health Facilities Authority, Florida, Health

Facilties Revenue Bonds, Shands Teaching Hospital & Clinics,

Inc. at the University of Florida Project, Series 2014A

.000

12/01/44

1,910,298

570,000

Amelia Walk Community Development District, Florida, Special

Assessment Bonds, Area 3-A Series 2018A

.750

11/01/29

582,277

620,000

(d) Amelia Walk Community Development District, Florida, Special

Assessment Bonds, Area 3-B Series 2018A

.750

11/01/29

636,023

275,000

Amelia Walk Community Development District, Florida, Special

Assessment Bonds, Area A-2 Series 2016

.500

11/01/30

279,475

240,000

(d) Antillia Community Development District, Florida, Special

Assessment Revenue Bonds, Project Series 2024

.000

05/01/31

245,722

1,000,000

(d) Antillia Community Development District, Florida, Special

Assessment Revenue Bonds, Project Series 2024

.600

05/01/44

1,007,763

625,000

(d) Arbors Community Development District, Florida, Revenue

Bonds, Capital Improvement 2024 Project Area Series 2024

.400

05/01/31

637,366

1,005,000

(d) Arbors Community Development District, Florida, Revenue

Bonds, Capital Improvement 2024 Project Area Series 2024

.150

05/01/44

1,000,837

420,000

Arborwood Community Development District, Florida, Capital

Improvement Revenue Bonds, Refunding Subordinate Lien

Series 2018A-2

.625

05/01/28

426,681

270,000

(d) Armstrong Community Development District, Clay County,

Florida, Special Assessment Revenue Bonds, Series 2017A

.500

11/01/28

274,079

70,000

Avalon Groves Community Development District, Florida,

Special Assessment Bonds, Area 1 Project, Series 2017

.000

05/01/28

71,591

210,000

Avalon Groves Community Development District, Florida,

Special Assessment Bonds, Area 2 Project, Series 2017A-1

.375

05/01/28

216,068

30,000

Avalon Groves Community Development District, Florida,

Special Assessment Bonds, Area 3 Project, Series 2021

.375

05/01/26

29,765

250,000

Avalon Groves Community Development District, Florida,

Special Assessment Bonds, Area 3 Project, Series 2021

.000

05/01/32

238,596

740,000

Avalon Groves Community Development District, Florida,

Special Assessment Bonds, Area 3 Project, Series 2021

.375

05/01/41

613,116

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

205,000

Avalon Groves Community Development District, Florida,

Special Assessment Bonds, Phase 1 & 2 Sub-Assessment Area

1 Project, Series 2019

.700

%

11/01/29

$

205,928

200,000

(d) Avalon Park West Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds, 2022

Project Area, Refunding Series 2022

.700

05/01/32

208,456

515,000

(d) Avalon Park West Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds, 2022

Project Area, Refunding Series 2022

.500

05/01/42

531,560

245,000

Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Ave Maria National Project,

Series 2021

.600

05/01/26

243,215

1,355,000

Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Ave Maria National Project,

Series 2021

.200

05/01/31

1,315,723

1,000,000

Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Ave Maria National Project,

Series 2021

.750

05/01/41

866,911

310,000

Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Maple Ridge Phase 3 Project,

Series 2018

.900

05/01/29

319,048

525,000

(d) Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Maple Ridge Phase 4 Project,

Series 2020

.800

05/01/32

526,087

165,000

(d) Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Maple Ridge Phase 4 Project,

Series 2020

.300

05/01/42

152,229

210,000

(d) Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Maple Ridge Phase 5 Project,

Series 2022

.000

05/01/27

207,887

915,000

(d) Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Maple Ridge Phase 5 Project,

Series 2022

.300

05/01/32

886,005

985,000

(d) Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Phase 3 Master Improvements

Project, Series 2021

.750

05/01/31

929,097

3,095,000

(d) Avenir Community Development District, Palm Beach Gardens,

Florida, Special Assessment Bonds, Area 2 Project, Series

2021B

.000

05/01/41

3,128,877

20,000

Aviary at Rutland Ranch Community Development District,

Manatee County, Florida, Special Assessment Bonds, Area 2

Project, Series 2021

.450

11/01/26

19,722

175,000

Aviary at Rutland Ranch Community Development District,

Manatee County, Florida, Special Assessment Bonds, Area 2

Project, Series 2021

.100

11/01/31

167,001

500,000

Aviary at Rutland Ranch Community Development District,

Manatee County, Florida, Special Assessment Bonds, Area 2

Project, Series 2021

.400

11/01/41

411,641

140,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds, 2018

Project Series 2018

.500

11/01/28

142,356

130,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds, 2021

Project Series 2021

.375

05/01/26

128,818

1,250,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds, 2024

Project Series 2024

.300

05/01/31

1,265,619

770,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds, 2024

Project Series 2024

.000

05/01/44

757,649

165,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds,

Assessment Area 2B, Series 2018

.500

11/01/29

168,787

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

140,000

(d) Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds,

Assessment Area 4, Series 2018

.500

%

11/01/29

$

143,176

150,000

Babcock Ranch Community Independent Special District,

Charlotte County, Florida, Special Assessment Bonds, Series

2015

.750

11/01/26

150,139

275,000

Ballentrae Hillsborough Community Development District,

Hillsborough County, Florida, Special Assessment Bonds,

Series 2014

.000

11/01/28

275,301

480,000

Balm Grove Community Development District, Florida, Special

Assessment Bonds, 2022 Project, Series 2022

.250

11/01/27

476,520

1,295,000

Balm Grove Community Development District, Florida, Special

Assessment Bonds, 2022 Project, Series 2022

.625

11/01/32

1,253,886

155,000

Bannon Lakes Community Development District, Saint Johns

County, Florida, Special Assessment Revenue Bonds, Series

2016

.500

11/01/25

155,068

200,000

(d) Bannon Lakes Community Development District, Saint Johns

County, Florida, Special Assessment Revenue Bonds, Series

2021

.000

05/01/31

193,578

140,000

Banyan Cay Community Development District, West Palm

Beach, Florida, Special Assessment Bonds, 2020-1

.750

11/01/25

139,819

2,500,000

Bay County, Florida, Educational Facilities Revenue Refunding

Bonds, Bay Haven Charter Academy, Inc. Project, Series 2013A

.000

09/01/43

2,499,819

55,000

Bay County, Florida, Educational Facilities Revenue Refunding

Bonds, Bay Haven Charter Academy, Inc. Project, Series 2016

.625

09/01/26

54,951

595,000

(d) Beaumont Communit Development District 1, City of

Wildwood, Florida, Special Assessment Bonds, Series 2019 A-1

.750

11/01/29

608,890

260,000

Bellagio Community Development District, Hialeah, Florida,

Special Assessment Bonds, Series 2013

.000

11/01/27

267,779

490,000

Bellagio Community Development District, Hialeah, Florida,

Special Assessment Bonds, Series 2016

.750

11/01/31

486,791

235,000

Belmont Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2016A

.750

11/01/27

240,402

60,000

Belmont II Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, 2020

Aessessment Area, Series 2020

.500

12/15/25

59,835

200,000

Belmont II Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, 2020

Aessessment Area, Series 2020

.125

12/15/30

197,433

105,000

Berry Bay Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1, Series 2021

.625

05/01/26

104,142

300,000

(d) Berry Bay II Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, 2024

Project Series 2024

.450

05/01/31

304,209

620,000

(d) Berry Bay II Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, 2024

Project Series 2024

.200

05/01/44

605,211

110,000

Black Creek Community Development District, Miami-Dade

County, Florida, Special Assessment Bonds, Project 2020 Series

2022

.800

06/15/27

111,899

455,000

Boggy Branch Community Development District, Jacksonville,

Florida, Special Assessment Revenue Bonds, Phase 1 Series

2021

.000

05/01/31

435,498

1,165,000

Boggy Branch Community Development District, Jacksonville,

Florida, Special Assessment Revenue Bonds, Phase 1 Series

2021

.500

05/01/41

976,417

6,055,000

Boggy Creek Improvement District, Orlando, Florida, Special

Assessment Revenue Bonds, Refunding Series 2013

.125

05/01/43

6,047,738

930,000

Boggy Creek Improvement District, Orlando, Florida, Special

Assessment Revenue Bonds, Refunding Series 2023

.500

05/01/33

956,160

1,770,000

Boggy Creek Improvement District, Orlando, Florida, Special

Assessment Revenue Bonds, Refunding Series 2023

.125

05/01/43

1,788,627

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,100,000

Botaniko Community Development District, Weston, Florida,

Special Assessment Bonds, Series 2020

.625

%

05/01/40

$

936,777

1,685,000

(d) Bradbury Community Development District, Haines City,

Florida, Special Assessment Bonds, Series 2023

.250

05/01/43

1,696,963

170,000

(d) Bridgewater North Community Development District, Saint

Johns County, Florida, Capital Improvement Revenue Bonds,

Series 2022

.125

05/01/27

168,382

500,000

(d) Bridgewater North Community Development District, Saint

Johns County, Florida, Capital Improvement Revenue Bonds,

Series 2022

.500

05/01/32

487,648

105,000

Brightwater Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 1 Project,

Series 2021

.375

05/01/26

104,069

375,000

Brightwater Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 1 Project,

Series 2021

.850

05/01/31

354,679

975,000

Brightwater Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 1 Project,

Series 2021

.150

05/01/41

781,474

380,000

(d) Brightwater Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 2 Project,

Series 2024

.550

05/01/31

387,052

700,000

(d) Brightwater Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 2 Project,

Series 2024

.350

05/01/44

700,235

135,000

(d) Brookstone Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area Two Series 2022

.375

05/01/27

135,855

350,000

(d) Brookstone Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area Two Series 2022

.750

05/01/32

360,791

395,000

(d) Brookstone Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds, Series

2018

.625

11/01/28

400,646

5,355,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2015A, (AMT)

.100

10/01/37

5,354,699

2,565,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2015A, (AMT)

.000

10/01/40

2,565,627

4,000,000

Broward County, Florida, Airport System Revenue Bonds,

Series 2015A, (AMT)

.000

10/01/45

3,999,944

215,000

(d) Buckhead Trails Community Development District, Manatee

County Florida, Special Assessment Bonds, 2022 Project Series

2022

.750

05/01/27

216,595

420,000

(d) Buckhead Trails Community Development District, Manatee

County Florida, Special Assessment Bonds, 2022 Project Series

2022

.250

05/01/32

436,218

1,000,000

(d) Buckhead Trails Community Development District, Manatee

County Florida, Special Assessment Bonds, 2022 Project Series

2022

.625

05/01/42

1,025,079

575,000

Buckhead Trails Community Development District, Manatee

County, Florida, Special Assessment Bonds, 2024 Project Series

2024

.600

05/01/44

573,351

135,000

Bullfrog Creek Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Series 2017

.750

11/01/28

137,573

330,000

Caldera Community Development District, Hernando County,

Florida, Special Assessment Revenue Bonds, Area One Series

2024

.300

05/01/31

333,828

725,000

Caldera Community Development District, Hernando County,

Florida, Special Assessment Revenue Bonds, Area One Series

2024

.000

05/01/44

707,436

1,105,000

(d) Capital Projects Finance Authority, Florida, Educational

Facilities Revenue Bonds, Imagine School at North Port, Series

2025A

.000

06/15/35

1,107,941

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,000,000

(d) Capital Projects Finance Authority, Florida, Educational

Facilities Revenue Bonds, Imagine School at North Port, Series

2025A

.250

%

06/15/45

$

2,013,408

300,000

(d) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/25

299,664

355,000

(d) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/26

357,223

330,000

(d) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/27

332,083

350,000

(d) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/28

352,080

365,000

(d) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/29

367,091

510,000

(d) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/30

512,528

445,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, AcadeMir Charter Schools, Series 2021A

.000

07/01/31

416,335

165,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, AcadeMir Charter Schools, Series 2021A

.000

07/01/41

140,947

500,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, AcadeMir Charter Schools, Series 2021A-2

.500

07/01/31

455,169

750,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, AcadeMir Charter Schools, Series 2021A-2

.000

07/01/41

640,668

255,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, Imagine School at Land O'Lakes Project, Series 2020A

.000

12/15/29

239,964

1,285,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, Imagine School at Land O'Lakes Project, Series 2020A

.000

12/15/39

1,196,872

235,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, Imagine School at North Manatee, Series 2021A

.250

06/01/31

217,629

235,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, Imagine School at North Manatee, Series 2021C

.000

06/01/41

216,915

1,050,000

(d) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, Pineapple Cove Classical Academy, Series 2019A

.125

07/01/39

1,008,777

570,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Babcock

Neighborhood School Inc, Series 2018

.900

08/15/28

586,521

515,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Babcock

Neighborhood School Inc, Series 2018

.100

08/15/38

525,392

695,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Odyssey Charter

School Project, Series 2017A

.750

07/01/27

701,218

330,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Viera Charter

School Project, Series 2017A

.000

10/15/29

330,989

355,000

(d) Capital Trust Agency, Florida, Revenue Bonds, Viera Charter

School Project, Series 2019A

.000

10/15/29

355,926

620,000

(d) Capital Trust Agency, Florida, Senior Living Facilities Revenue

Bonds, Elim Senior Housing, Inc. Project, Series 2017

.000

08/01/27

609,687

490,000

(d) Capital Trust Agency, Florida, Senior Living Facilities Revenue

Bonds, Elim Senior Housing, Inc. Project, Series 2017

.375

08/01/32

471,865

3,000,000

(d) Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, Babcock Neighborhood School Inc Project, Series 2024

.125

08/15/39

2,855,273

2,000,000

(d) Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, Babcock Neighborhood School Inc Project, Series 2024

.750

08/15/49

1,858,990

2,000,000

(d) Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, IPS Enterprises, Inc. Projects, Refunding Series 2023A

.125

06/15/33

2,070,071

3,600,000

(d) Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, IPS Enterprises, Inc. Projects, Refunding Series 2023A

.000

06/15/43

3,673,795

1,390,000

Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, LLT Academy South Bay Project, Series 2025

.000

06/15/35

1,423,307

2,825,000

Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, LLT Academy South Bay Project, Series 2025

.000

06/15/45

2,880,090

405,000

Carlton Lakes Community Developement District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Series

2015

.125

11/01/29

411,329

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

810,000

(d) Caymas Community Development District, Collier County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 1, Series 2024

.300

%

05/01/44

$

804,794

245,000

(d) Cedar Crossing Community Development District, Polk County,

Florida, Special Assessment Bond, 2025 Project, Series 2025

.300

05/01/32

247,355

365,000

(d) Cedar Crossing Community Development District, Polk County,

Florida, Special Assessment Bond, 2025 Project, Series 2025

.300

05/01/45

357,340

75,000

Celebration Community Development District, Florida, Special

Assessment Bonds, Assessment Area 1, Series 2021

.250

05/01/26

74,350

2,935,000

(g) Celebration Pointe Community Development District 1,

Alachua County, Florida, Special Assessment Revenue Bonds,

Series 2014

.000

05/01/34

2,348,000

2,625,000

(g) Celebration Pointe Community Development District 1,

Alachua County, Florida, Special Assessment Revenue Bonds,

Series 2014

.125

05/01/45

2,100,000

1,115,000

(g) Celebration Pointe Community Development District 1,

Alachua County, Florida, Special Assessment Revenue Bonds,

Series 2017

.000

05/01/32

892,000

3,810,000

(g) Celebration Pointe Community Development District 1,

Alachua County, Florida, Special Assessment Revenue Bonds,

Series 2017

.000

05/01/48

3,048,000

450,000

(g) Celebration Pointe Community Development District 1,

Alachua County, Florida, Special Assessment Revenue Bonds,

Series 2021

.375

05/01/26

360,000

1,090,000

(g) Celebration Pointe Community Development District 1,

Alachua County, Florida, Special Assessment Revenue Bonds,

Series 2021

.000

05/01/31

872,000

200,000

Centre Lake Community Development District, Miami Lakes,

Florida, Special Assessment Bonds, Series 2016

.125

12/15/27

201,078

500,000

Centre Lake Community Development District, Miami Lakes,

Florida, Special Assessment Bonds, Series 2016

.500

12/15/32

503,100

230,000

(d) Centre Lake Community Development District, Miami Lakes,

Florida, Special Assessment Bonds, Series 2021

.750

05/01/26

228,450

250,000

(d) Centre Lake Community Development District, Miami Lakes,

Florida, Special Assessment Bonds, Series 2021

.750

05/01/29

241,653

255,000

(d) Centre Lake Community Development District, Miami Lakes,

Florida, Special Assessment Bonds, Series 2021

.000

05/01/42

200,386

610,000

Chaparral of Palm Bay Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 1 Project, Series 2020A-1

.250

05/01/31

598,055

410,000

(d) Chaparral of Palm Bay Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 2 Project, Series 2024

.500

05/01/31

416,123

1,340,000

(d) Chaparral of Palm Bay Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 2 Project, Series 2024

.200

05/01/44

1,317,286

25,000

(d) Chapel Creek Community Development District, Florida,

Special Assessment Revenue Bonds, Series 2021 Project, Series

2021

.500

05/01/26

24,796

560,000

(d) Chapel Creek Community Development District, Florida,

Special Assessment Revenue Bonds, Series 2021 Project, Series

2021

.375

05/01/41

465,055

255,000

(d) Chapel Creek Community Development District, Pasco County,

Florida, Special Assessment Revenue Bonds, Series 2024

Project, Series 2024

.625

05/01/31

260,905

725,000

(d) Chapel Creek Community Development District, Pasco County,

Florida, Special Assessment Revenue Bonds, Series 2024

Project, Series 2024

.500

05/01/44

730,653

7,500,000

(d) Charlotte County Industrial Development Authority, Florida,

Utility System Revenue Bonds, Town & Country Utilities Project,

Series 2019, (AMT)

.000

10/01/49

7,257,050

600,000

(d) Charlotte County Industrial Development Authority, Florida,

Utility System Revenue Bonds, Town & Country Utilities Project,

Series 2025, (AMT)

.125

10/01/35

613,326

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

245,000

(d) Coco Palms Community Development District, Miami-Dade

County, Florida, Special Assessment Bonds, Expansion Area

Project, Series 2019

.000

%

06/15/29

$

246,871

315,000

(d) Collier County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, Gulf Coast Charter

Academy South Project, Series 2017A

.100

12/01/27

314,030

1,360,000

(d) Collier County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, Gulf Coast Charter

Academy South Project, Series 2017A

.000

12/01/37

1,339,878

2,205,000

(d) Collier County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, Gulf Coast Charter

Academy South Project, Series 2017A

.000

12/01/47

1,993,300

275,000

(d) Collier County, Florida, Capital Improvement Revenue Bonds,

Series 2005

.450

05/01/31

279,839

290,000

(d) Connerton East Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 2 Project, Series 2025

.250

06/15/30

295,053

225,000

(d) Connerton East Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 2 Project, Series 2025

.650

06/15/35

230,850

370,000

(d) Connerton East Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 2 Project, Series 2025

.450

06/15/45

372,707

270,000

(d) Copper Creek Community Development District, Port Saint

Lucie, Florida, Special Assessment Bonds, Series 2019

.000

11/01/29

272,051

165,000

Coral Keys Homes Community Development District, Miami-

Dade County, Florida, Special Assessment Revenue Bonds,

Series 2020

.125

05/01/30

163,093

355,000

(d) Coral Lakes Community Development District, Charlotte

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2024

.625

11/01/31

363,729

1,165,000

(d) Coral Lakes Community Development District, Charlotte

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2024

.500

11/01/44

1,185,506

440,000

(d) Corkscrew Farms Community Development District, Lee

County, Florida, Special Assessment Bonds, Area 2 Project,

Series 2017

.500

11/01/28

444,763

275,000

Creekside at Twin Creeks Community Development District,

Florida, Special Assessment Bonds, Area 1 Project, Series

2016A-1

.625

11/01/27

278,264

250,000

Creekview Community Development District, Clay County,

Florida, Special Assessment Revenue Bonds, Phase 1 Project

Series 2022

.875

05/01/27

249,372

655,000

Creekview Community Development District, Clay County,

Florida, Special Assessment Revenue Bonds, Phase 1 Project

Series 2022

.250

05/01/32

659,128

1,625,000

Creekview Community Development District, Clay County,

Florida, Special Assessment Revenue Bonds, Phase 1 Project

Series 2022

.625

05/01/42

1,547,738

650,000

(d) Cross Creek North Community Development District, Clay

County, Florida, Special Assessment Bonds, Series 2018

.750

11/01/29

666,620

210,000

Cross Creek North Community Development District, Clay

County, Florida, Special Assessment Bonds, Series 2022

.400

05/01/27

210,088

1,000,000

Cross Creek North Community Development District, Clay

County, Florida, Special Assessment Bonds, Series 2022

.750

05/01/32

1,011,534

275,000

Cross Creek North Community Development District, Clay

County, Florida, Special Assessment Bonds, Series 2023

.500

05/01/30

281,048

1,000,000

Cross Creek North Community Development District, Clay

County, Florida, Special Assessment Bonds, Series 2023

.125

05/01/43

1,008,076

305,000

(d) Crossings Community Development District, Osceola County,

Florida, Special Assessment Revenue Bonds, Series 2024

.750

05/01/31

310,445

1,030,000

(d) Crossings Community Development District, Osceola County,

Florida, Special Assessment Revenue Bonds, Series 2024

.350

05/01/44

1,024,600

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

835,000

(d) Crosswinds East Community Development District, Polk

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Series 2024

.625

%

05/01/31

$

853,588

1,020,000

(d) Crosswinds East Community Development District, Polk

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Series 2024

.500

05/01/44

1,029,349

45,000

Crystal Cay Community Development District, Florida, Special

Assessment Bonds, 2021 Project, Series 2021

.250

05/01/26

44,623

855,000

Crystal Cay Community Development District, Florida, Special

Assessment Bonds, 2021 Project, Series 2021

.050

05/01/41

714,766

390,000

(d) Curiosity Creek Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, Series 2024

.650

05/01/31

395,794

1,000,000

(d) Curiosity Creek Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, Series 2024

.400

05/01/44

986,729

1,850,000

Currents Community Development District, Collier County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 2 Series 2024

.000

05/01/31

1,877,401

6,790,000

Currents Community Development District, Collier County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 2 Series 2024

.500

05/01/44

6,624,136

1,050,000

(d) Currents Community Development District, Collier County,

Florida, Capital Improvement Revenue Bonds, Series 2020B

.250

05/01/41

949,716

1,290,000

(d) Currents Community Development District, Collier County,

Florida, Capital Improvement Revenue Bpnds, Series 2020A

.500

05/01/30

1,268,559

360,000

(d) Currents Community Development District, Collier County,

Florida, Capital Improvement Revenue Bpnds, Series 2020A

.000

05/01/40

329,066

1,025,000

Cypress Bluff Community Development District, Florida,

Special Assessment Bonds, Series 2019

.125

05/01/29

1,040,050

170,000

Cypress Mill Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Series 2023

.000

05/01/28

171,470

450,000

Cypress Mill Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Series 2023

.000

05/01/33

445,346

295,000

(d) Cypress Park Estates Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area 1

Project, Series 2020

.250

05/01/30

287,634

495,000

(d) Cypress Park Estates Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area 2

Project, Series 2020

.000

05/01/40

450,526

955,000

Cypress Preserve Community Development District, Pasco

County, Florida, Special Assessment Bonds, Assessment Area

2, Series 2019

.750

11/01/31

933,003

1,670,000

Cypress Preserve Community Development District, Pasco

County, Florida, Special Assessment Bonds, Assessment Area

2, Series 2019

.000

11/01/39

1,506,474

255,000

(d) Deerbrook Community Development District, Pasco County,

Florida, Special Assessment Bonds, 2023 Project Series 2023

.375

05/01/30

260,068

1,000,000

(d) Deerbrook Community Development District, Pasco County,

Florida, Special Assessment Bonds, 2023 Project Series 2023

.250

05/01/43

1,009,600

375,000

Del Webb Oak Creek Community Development District, Lee

County, Florida, Special Assessment Bonds, 2023 Project,

Series 2023

.125

05/01/30

381,884

260,000

(d) Del Webb River Reserve Community Development District,

Pasco County, Florida, Special Assessment Bonds, Series 2025

.375

05/01/30

264,392

200,000

(d) Del Webb River Reserve Community Development District,

Pasco County, Florida, Special Assessment Bonds, Series 2025

.750

05/01/35

206,053

180,000

(d) Del Webb Sunchase Community Development District,

Manatee County, Florida, Special Assessment Bonds, Series

2025

.250

05/01/30

183,284

250,000

(d) Del Webb Sunchase Community Development District,

Manatee County, Florida, Special Assessment Bonds, Series

2025

.650

05/01/35

258,084

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

415,000

(d) Del Webb Sunchase Community Development District,

Manatee County, Florida, Special Assessment Bonds, Series

2025

.450

%

05/01/45

$

418,505

505,000

(d) Downden West Community Development District, Florida,

Revenue Bonds Series 2018

.850

05/01/29

518,200

2,535,000

Durbin Crossing Community Development District, Florida,

Special Assessment Bonds, Senior Refunding Series 2017A-1 -

AGM Insured

.000

05/01/32

2,628,190

75,000

DW Bayview Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds, 2022

Assessment Area Series 2022

.300

05/01/27

75,557

175,000

DW Bayview Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds, 2022

Assessment Area Series 2022

.500

05/01/32

181,797

575,000

(d) Eagle Pointe Community Development District, Manatee

County, Florida, Special Assessment Bonds, 2020 Project

Assessment Area Series 2020

.625

05/01/31

565,129

20,000

East 547 Community Development District, Florida, Special

Assessment Bonds, Area 1 Series 2021

.500

05/01/26

19,841

155,000

East 547 Community Development District, Florida, Special

Assessment Bonds, Area 1 Series 2021

.000

05/01/31

148,507

405,000

East 547 Community Development District, Florida, Special

Assessment Bonds, Area 1 Series 2021

.300

05/01/41

331,134

235,000

(d) East Bonita Beach Road Community Development District,

Bonita Springs, Florida, Special Assessment Bonds, Area 1

Series 2018

.375

11/01/29

239,965

230,000

East Homestead Community Development District, Florida,

Special Assessment Revenue Bonds, Series 2019

.125

11/01/29

232,685

400,000

East Nassau Stewardship District, Florida, Special Assessment

Revenue Bonds, Series 2018

.600

05/01/29

408,612

165,000

East Nassau Stewardship District, Florida, Special Assessment

Revenue Bonds, Series 2021

.400

05/01/26

163,524

480,000

East Nassau Stewardship District, Florida, Special Assessment

Revenue Bonds, Series 2021

.000

05/01/31

458,262

1,265,000

East Nassau Stewardship District, Florida, Special Assessment

Revenue Bonds, Series 2021

.500

05/01/41

1,056,588

325,000

(d) East Palm Drive Community Development District, Florida,

Special Assessment Bonds, Assessment Area 1, Series 2024

.375

06/15/31

330,586

750,000

(d) East Palm Drive Community Development District, Florida,

Special Assessment Bonds, Assessment Area 1, Series 2024

.100

06/15/44

746,803

110,000

Edgewater East Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2021

.500

05/01/26

109,148

800,000

Edgewater East Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2021

.100

05/01/31

771,645

2,000,000

Edgewater East Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2021

.600

05/01/41

1,665,154

820,000

Edgewater East Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 3 Series 2025

.125

05/01/35

835,414

925,000

Edgewater East Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 3 Series 2025

.100

05/01/45

946,218

1,095,000

Edgewater West Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Series 2024

.500

05/01/31

1,106,357

1,000,000

Edgewater West Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Series 2024

.250

05/01/44

967,172

100,000

(d) Entrada Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2021

.125

05/01/26

99,033

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

350,000

Epperson North Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2,

Series 2021

.000

%

05/01/31

$

334,998

45,000

(d) Epperson North Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 3,

Series 2021A

.450

11/01/26

44,368

580,000

(d) Epperson North Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 3,

Series 2021A

.100

11/01/31

552,583

200,000

(d) Epperson North Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 4,

Series 2024

.500

05/01/31

203,395

500,000

(d) Epperson North Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 4,

Series 2024

.300

05/01/44

493,890

265,000

Epperson Ranch Community Development District, Florida,

Capital Improvement Revenue Bonds, Series 2017A-1

.000

11/01/28

269,815

240,000

(d) Epperson Ranch II Community Development District, Florida,

Capital Improvement Revenue Bonds, Series 2018A-1

.000

05/01/30

246,836

1,500,000

Escambia County, Florida, Environmental Improvement

Revenue Bonds, International Paper Company Projects,

Refunding Series 2019B, (Mandatory Put 10/01/31)

.450

11/01/33

1,509,353

65,000

Esplanade Lake Club Community Development District, Lee

County, Florida, Capital Improvement Bonds, Series 2019A-2

.625

11/01/30

64,071

150,000

Estancia at Wiregrass Community Development District, Pasco

County, Florida, Capital Improvement Revenue Bonds, Series

2013

.375

11/01/26

150,342

410,000

(d) Evergreen Community Development District, Florida, Special

Assessment Bonds, Series 2019

.250

11/01/29

415,673

500,000

(d) Everlands Community Development District, Florida, Special

Assessment Revenue Bonds, Assessment Area 2 Series 2024

.450

06/15/31

507,735

925,000

(d) Everlands Community Development District, Florida, Special

Assessment Revenue Bonds, Assessment Area 2 Series 2024

.200

06/15/44

911,326

350,000

Finley Woods Community Development District, Florida,

Capital Improvement Bonds, Series 2020

.000

05/01/40

319,238

1,495,000

Florida Department of Transportation, Full Faith and Credit

Right-of-Way Acquisition and Bridge Construction Bonds,

Series 2025B

.500

07/01/47

1,525,639

130,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Classical Preparatory Incorporated

Project, Series 2017A

.000

06/15/27

130,705

50,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Classical Preparatory Incorporated

Project, Series 2018A

.000

06/15/28

50,273

930,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Cornerstone Charter Schools Project,

Series 2022

.000

10/01/32

955,932

1,505,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Creative Inspiration Journey School

of St. Cloud, Series 2021A

.000

06/15/31

1,523,501

1,245,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Creative Inspiration Journey School

of St. Cloud, Series 2021A

.000

06/15/41

1,133,852

785,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Creative Inspiration Journey School

of St. Cloud, Series 2021A

.000

06/15/51

664,223

805,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Creative Inspiration Journey School

of St. Cloud, Series 2021A

.000

06/15/56

664,175

330,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Downtown Doral Charter Elementary

School Project, Series 2017A

.000

07/01/27

332,632

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,640,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Downtown Doral Charter Upper

School Project, Series 2017C

.150

%

07/01/27

$

1,660,278

600,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Dreamers Academy Project, Taxable

Series 2022B

.250

01/15/28

594,890

6,405,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Florida Charter Foundation Inc.

Projects, Series 2016A

.750

07/15/36

6,253,928

625,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Global Outreach Charter Academy,

Series 2021A

.000

06/30/36

534,158

765,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Global Outreach Charter Academy,

Series 2021A

.000

06/30/41

585,467

1,855,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Global Outreach Charter Academy,

Series 2021A

.000

06/30/46

1,311,788

1,350,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Innovation Montessori Ocoee

Projects, Taxable Series 2022A

.000

07/01/32

1,326,302

3,135,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Innovation Montessori Ocoee

Projects, Taxable Series 2022A

.375

07/01/42

2,830,001

3,000,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Parrish Charter Academy Inc Series

2023A, (Mandatory Put 6/15/28)

.250

04/23/58

2,977,408

835,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School Inc.

Projects, Series 2025A

.900

06/15/35

856,736

1,420,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School, Inc.

Projects, Series 2014A

.750

06/15/29

1,421,426

1,510,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School, Inc.

Projects, Series 2014A

.000

06/15/34

1,511,376

470,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School, Inc.

Projects, Series 2020C

.000

09/15/30

457,977

435,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, The Florida Charter Educational

Foundation Inc. Projects, Series 2016A

.125

06/15/26

436,102

700,000

(d) Florida Development Finance Corporation, Educational

Facilities Revenue Refunding Bonds, Central Charter School,

Series 2022

.250

08/15/37

670,041

11,700,000

(d) Florida Development Finance Corporation, Florida, Solid

Waste Disposal Revenue Bonds, GFL Solid Waste Southeast

LLC Project Series 2024A, (AMT), (Mandatory Put 10/01/31)

.375

10/01/54

11,819,016

2,300,000

(d) Florida Development Finance Corporation, Florida, Solid

Waste Disposal Revenue Bonds, Waste Pro USA, Inc. Project,

Series 2019, (AMT)

.000

05/01/29

2,330,850

9,500,000

(d) Florida Development Finance Corporation, Florida, Solid

Waste Disposal Revenue Bonds, Waste Pro USA, Inc. Project,

Series 2023, (AMT), (Mandatory Put 7/01/26)

.125

07/01/32

9,597,055

49,710,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT), (Mandatory Put

7/15/28)

.000

07/15/32

31,006,613

6,140,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/36

5,163,121

1,990,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/37

1,673,627

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

15,910,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

%

07/01/38

$

13,415,065

31,520,000

Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT)

.000

07/01/41

26,646,349

83,550,000

(d) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Series

2025B, (AMT), (Mandatory Put 6/15/26)

.000

07/01/57

71,182,444

3,920,000

(d) Florida Development Finance Corporation, Revenue Bonds,

IPS Florida LLC-Idea Florida, Inc. Jacksonville IV, Series 2022

.250

06/15/29

3,937,907

225,000

(d) Florida Development Finance Corporation, Senior Living

Revenue Bonds, Glenridge on Palmer Ranch Project, Refunding

Series 2021

.000

06/01/35

231,726

1,305,000

(d) Florida Development Finance Corporation, Student Housing

Revenue Bonds, SPP - Tampa I - LLC The Henry Project, Series

2024A-1

.000

06/01/44

1,258,622

1,540,000

(d) Florida Development Finance Corporation, Student Housing

Revenue Bonds, SPP - Tampa I - LLC The Henry Project, Series

2024B

.500

06/01/59

1,526,662

3,320,000

Florida Housing Finance Corporation, Multifamily Mortgage

Revenue Bonds, Brookside Square Apartments, Series 2015J,

(Mandatory Put 6/01/32)

.000

06/01/57

3,287,619

10,100,000

(d) Florida Local Government Finance Commission, Senior Living

Revenue Bonds, Fleet Landing at Nocatee Project Series 2025A

.200

11/15/30

10,174,402

3,000,000

Florida Local Government Finance Commission, Senior Living

Revenue Bonds, Fleet Landing at Nocatee Project Series 2025A

.450

11/15/31

3,030,352

230,000

Florida Municipal Loan Council, Capital Improvement Revenue

Bonds, Shingle Creek Transportation and Utility Series 2024,

(AMT)

.500

05/01/31

234,322

255,000

Flow Way Community Development District, Collier County,

Florida, Special Assessment Bonds, Phase 5 Project, Series

2016

.350

11/01/27

257,134

750,000

(d) Flow Way Community Development District, Collier County,

Florida, Special Assessment Bonds, Refunding Series 2024

.000

05/01/34

804,619

1,100,000

(d) Flow Way Community Development District, Collier County,

Florida, Special Assessment Bonds, Refunding Series 2024

.000

05/01/44

1,098,025

85,000

Flow Way Community Development District, Collier County,

Florida, Special Assessment Bonds, Series 2015

.250

11/01/25

85,027

330,000

Forest Brooke Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Series 2017

.500

12/15/27

333,678

190,000

Fox Branch Ranch Community Development District, Polk

County, Florida, Revenue Bonds, Capital Improvement Area

One Series 2025

.150

05/01/30

192,434

225,000

Fox Branch Ranch Community Development District, Polk

County, Florida, Revenue Bonds, Capital Improvement Area

One Series 2025

.375

05/01/35

227,360

540,000

Fox Branch Ranch Community Development District, Polk

County, Florida, Revenue Bonds, Capital Improvement Area

One Series 2025

.200

05/01/45

532,433

350,000

(d) Gas Worx Community Development District, Tampa, Florida,

Special Assessment Bonds, Series 2025

.625

05/01/30

358,838

625,000

(d) Gas Worx Community Development District, Tampa, Florida,

Special Assessment Bonds, Series 2025

.000

05/01/36

643,069

1,365,000

(d) Gas Worx Community Development District, Tampa, Florida,

Special Assessment Bonds, Series 2025

.750

05/01/45

1,385,200

685,000

(d) GIR East Community Development District, Osceola County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 1, Series 2025

.300

05/01/32

691,613

1,500,000

(d) GIR East Community Development District, Osceola County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 1, Series 2025

.300

05/01/45

1,463,244

65,000

Glen St Johns Community Development District, Florida,

Special Assessment Revenue Bonds, Series 2006

.250

05/01/38

65,045

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

600,000

(d) Governors Park South Community Development District, Clay

County, Florida, Special Assessment Revenue Bonds, Area 1

Series 2025

.375

%

05/01/32

$

609,638

1,000,000

(d) Governors Park South Community Development District, Clay

County, Florida, Special Assessment Revenue Bonds, Area 1

Series 2025

.400

05/01/45

992,120

120,000

(d) Gracewater Sarasota Community Development District,

Sarasota County, Florida, Capital Improvement Revenue

Bonds, Series 2021

.400

05/01/26

118,776

665,000

(d) Gracewater Sarasota Community Development District,

Sarasota County, Florida, Capital Improvement Revenue

Bonds, Series 2021

.950

05/01/31

619,890

185,000

Grand Bay at Doral Community Development District, Miami-

Dade County, Florida, Special Assessment Bonds, South Parcel

Assessment Area Project, Series 2016

.250

05/01/26

185,623

610,000

Grand Bay at Doral Community Development District, Miami-

Dade County, Florida, Special Assessment Improvement

Bonds, Assessment Area Two Project, Refunding Series

2014A-2

.875

05/01/28

611,061

40,000

(d) Grand Oaks Community Development District, Saint Johns

County, Florida, Special Assessment Bonds, Assessment Area

3, Series 2021

.625

11/01/26

39,313

220,000

(d) Grand Oaks Community Development District, Saint Johns

County, Florida, Special Assessment Bonds, Assessment Area

3, Series 2021

.200

11/01/31

208,721

560,000

(d) Grand Oaks Community Development District, Saint Johns

County, Florida, Special Assessment Bonds, Assessment Area

3, Series 2021

.500

11/01/41

462,813

440,000

Grand Oaks Community Development District, Saint Johns

County, Florida, Special Assessment Bonds, Series 2019A

.125

11/01/29

445,051

12,500,000

Greater Orlando Aviation Authority, Florida, Orlando Airport

Facilities Revenue Bonds, Priority Subordinated Series 2017A,

(AMT)

.000

10/01/47

12,516,905

970,000

Greater Orlando Aviation Authority, Florida, Orlando Airport

Facilities Revenue Bonds, Series 2015A, (AMT)

.000

10/01/40

927,851

325,000

Grove Resort Community Development District, Orange

County, Florida, Special Assessment Revenue Bonds, Series

2017A

.000

11/01/28

332,817

50,000

Gulfstream Polo Community Development District, Palm Beach

County, Florida, Special Assessment Bonds, Phase 1 Project,

Series 2017

.000

11/01/27

50,261

150,000

(d) Hammock Oaks Community Development District, Florida,

Special Assessment Revenue Bonds, Area One Series 2023

.875

05/01/30

153,923

750,000

(d) Hammock Oaks Community Development District, Florida,

Special Assessment Revenue Bonds, Area One Series 2023

.625

05/01/43

767,133

300,000

Hammock Oaks Community Development District, Lady Lake,

Florida, Special Assessment Revenue Bonds, Area 2, Series

2024

.000

05/01/31

306,612

1,000,000

Hammock Oaks Community Development District, Lady Lake,

Florida, Special Assessment Revenue Bonds, Area 2, Series

2024

.850

05/01/44

1,007,006

45,000

Hammock Reserve Community Development District, Haines

City, Florida, Special Assessment Revenue Bonds, Area 2

Project, Series 2021

.375

05/01/26

44,606

205,000

Hammock Reserve Community Development District, Haines

City, Florida, Special Assessment Revenue Bonds, Area 2

Project, Series 2021

.000

05/01/31

195,816

515,000

Hammock Reserve Community Development District, Haines

City, Florida, Special Assessment Revenue Bonds, Area 2

Project, Series 2021

.375

05/01/41

431,164

195,000

(d) Hammock Reserve Community Development District, Haines

City, Florida, Special Assessment Revenue Bonds, Area 3

Project, Series 2022

.200

05/01/27

195,930

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

470,000

(d) Hammock Reserve Community Development District, Haines

City, Florida, Special Assessment Revenue Bonds, Area 3

Project, Series 2022

.400

%

05/01/32

$

482,978

345,000

(d) Harmony West Community Development District, Osceloa

County, Florida, Special Asssessment Revenue Bonds,

Assessment Area 1, Series 2018

.750

05/01/29

353,752

300,000

(d) Harmony West Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 3, Series 2025

.600

05/01/32

305,586

625,000

(d) Harmony West Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 3, Series 2025

.450

05/01/45

623,060

410,000

Hawkstone Community Development District, Florida, Special

Assessment Revenue Bonds, Assessment Area 1, Series 2019

.500

11/01/30

403,100

125,000

Hawkstone Community Development District, Florida, Special

Assessment Revenue Bonds, Assessment Area 2, Series 2019

.625

11/01/30

123,611

565,000

(d) Hawthorne Mill North Community Development District,

Florida, Capital Improvement Revenue Bonds, Lakeland

Assessment Area Two Series 2024

.600

05/01/31

573,749

1,000,000

(d) Hawthorne Mill North Community Development District,

Florida, Capital Improvement Revenue Bonds, Lakeland

Assessment Area Two Series 2024

.200

05/01/44

981,894

500,000

Heights Community Development District, Florida, Tax

Increment & Special Assessment Revenue Bonds, Series 2018

.500

01/01/28

505,417

3,900,000

Heights Community Development District, Florida, Tax

Increment & Special Assessment Revenue Bonds, Series 2018

.125

01/01/50

3,808,997

695,000

Heritage Harbour North Community Development District,

Florida, Capital Improvement Revenue Bond, Refunding Series

2017A-1 - AGM Insured

.000

05/01/27

718,511

575,000

(d) Hickory Tree Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2024

.500

05/01/31

582,347

1,310,000

(d) Hickory Tree Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2024

.150

05/01/44

1,281,647

365,000

(d) Hidden Creek Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 3,

Series 2019A-1

.500

11/01/29

372,414

245,000

Highland Meadows II Community Development District,

Davenport, Polk County, Florida, Special Assessment Revenue

Bonds, Assessment Area 7/7A Project, Series 2019

.875

11/01/31

244,767

210,000

Highland Meadows West Community Development District,

Haines City, Florida, Special Assessment Bonds, Area 2 Project,

Series 2020A

.250

05/01/31

202,486

420,000

Highland Meadows West Community Development District,

Haines City, Florida, Special Assessment Bonds, Area 2 Project,

Series 2020A

.625

05/01/40

363,963

150,000

Highland Meadows West Community Development District,

Haines City, Florida, Special Assessment Bonds, Area 3 Project,

Series 2020A

.625

05/01/40

129,987

440,000

(d) Highland Meadows West Community Development District,

Haines City, Florida, Special Assessment Bonds, Series 2019

.125

11/01/29

445,516

235,000

(d) Highland Trails Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Capital Improvement Series 2024

.700

05/01/31

239,900

815,000

(d) Highland Trails Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Capital Improvement Series 2024

.500

05/01/44

818,021

200,000

(d) Highlands Community Development District, Hillborough

County, Florida, Special Assessment Bonds, Assessment Area 4

Project, Series 2018

.750

06/15/29

205,068

2,200,000

Highlands Community Development District, Hillborough

County, Florida, Special Assessment Bonds, Refunding Series

2016

.250

05/01/31

2,204,427

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

835,000

(d) Hillcrest Preserve Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds, 2024

Project Series 2024

.375

%

05/01/31

$

844,555

1,500,000

(d) Hillcrest Preserve Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds, 2024

Project Series 2024

.000

05/01/44

1,439,508

1,500,000

Hobe-Saint Lucie Conservancy District, Florida, Special

Assessment Revenue Bonds, Improvement Unit 1A, Series

2024

.600

05/01/44

1,527,055

180,000

(d) Hunter's Ridge Community Development District 1, Flagler

County, Florida, Special Assessment Bonds, Assessment Area

1, Series 2019

.250

11/01/29

182,491

260,000

(d) Island Lake Estates Community Development District, Charlotte

County, Florida, Special Assessment Bonds, 2023 Project Series

2023

.875

12/15/28

264,942

1,500,000

(d) Island Lake Estates Community Development District, Charlotte

County, Florida, Special Assessment Bonds, 2023 Project Series

2023

.750

12/15/43

1,557,136

2,500,000

Islands at Doral III Community Development District, Doral,

Florida, Special Assessment Bonds, Refunding Series 2013

.125

05/01/35

2,500,020

130,000

Isles of Bartram Park Community Development District, Saint

Johns County, Florida, Special Assessment Bonds, Series 2015

.375

11/01/25

130,025

170,000

Isles of Bartram Park Community Development District, Saint

Johns County, Florida, Special Assessment Bonds, Series 2017

.000

11/01/27

170,428

160,000

(d) Kelly Park Community Development District, Florida, Special

Assessment Revenue Bonds, Assessment Area One Project

Series 2023

.125

11/01/30

164,548

645,000

(d) Kelly Park Community Development District, Florida, Special

Assessment Revenue Bonds, Assessment Area One Project

Series 2023

.000

11/01/43

665,242

65,000

Kindred Community Development District II, Osceola County,

Florida, Special Assessment Revenue Bonds, Series 2021

.200

05/01/26

64,444

80,000

Kindred Community Development District, Osceola County,

Florida, Special Assessment Revenue Bonds, Series 2016

.000

05/01/26

80,132

195,000

Kindred Community Development District, Osceola County,

Florida, Special Assessment Revenue Bonds, Series 2017

.000

05/01/27

195,892

40,000

Kingman Gate Community Development District, Homestead,

Florida, Special Assessment Bonds, Project 2021 Series 2021

.500

06/15/26

39,718

315,000

(d) Kings Creek I Community Development District, Jacksonville,

Florida, Special Assessment Revenue Bonds, Assessment Area

One Project Series 2025

.500

05/01/30

320,375

500,000

(d) Kings Creek I Community Development District, Jacksonville,

Florida, Special Assessment Revenue Bonds, Assessment Area

One Project Series 2025

.000

05/01/36

513,765

875,000

(d) Kings Creek I Community Development District, Jacksonville,

Florida, Special Assessment Revenue Bonds, Assessment Area

One Project Series 2025

.750

05/01/45

887,274

215,000

(d) Knightsbridge Community Development District, Florida,

Special Assessment Bonds, Series 2024

.250

06/15/31

219,704

700,000

(d) Knightsbridge Community Development District, Florida,

Special Assessment Bonds, Series 2024

.200

06/15/44

709,480

3,000,000

Lake County, Florida Retirement Facility Revenue Bonds,

Lakeside at Waterman Village Project, Series 2020A

.500

08/15/40

2,971,752

425,000

(d) Lake County, Florida, Educational Facilities Revenue Bonds,

Imagine South Lake Charter School Project, Series 2019A

.000

01/15/29

423,266

550,000

(d) Lake County, Florida, Educational Facilities Revenue Bonds,

Imagine South Lake Charter School Project, Series 2019A

.000

01/15/39

501,364

130,000

Lake Deer Community Development District, Polk County

Florida, Special Assessment Revenue Bonds, Series 2022

.500

05/01/27

130,535

300,000

Lake Deer Community Development District, Polk County

Florida, Special Assessment Revenue Bonds, Series 2022

.000

05/01/32

307,288

745,000

Lake Deer Community Development District, Polk County

Florida, Special Assessment Revenue Bonds, Series 2022

.500

05/01/42

752,504

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

615,000

(d) Lake Hideaway Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area One, Series 2024

.750

%

05/01/31

$

628,400

865,000

(d) Lake Hideaway Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area One, Series 2024

.650

05/01/44

868,184

345,000

Lakeside Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Series 2018

.600

05/01/28

350,454

260,000

Lakeside Preserve Community Development District, Lakeland,

Florida, Special Assessment Bonds, 2023 Project Series 2023

.250

05/01/30

268,116

915,000

Lakeside Preserve Community Development District, Lakeland,

Florida, Special Assessment Bonds, 2023 Project Series 2023

.000

05/01/43

951,944

120,000

Lakeside Preserve Community Development District, Lakeland,

Florida, Special Assessment Bonds, Series 2019

.250

05/01/29

121,530

35,000

Lakewood Park Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area 1, Series

2021

.625

05/01/26

34,736

120,000

Lakewood Park Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area 1, Series

2021

.200

05/01/31

116,051

325,000

Lakewood Park Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area 1, Series

2021

.625

05/01/41

274,552

215,000

(d) Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Del Webb Project, Series 2017

.300

05/01/27

216,990

200,000

Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Isles Lakewood Ranch Project,

Series 2019

.875

05/01/29

202,040

45,000

(d) Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Star Farms at Lakewood Ranch

Project, Series 2021

.300

05/01/26

44,618

205,000

(d) Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Star Farms at Lakewood Ranch

Project, Series 2021

.700

05/01/31

193,546

350,000

(d) Landings at Miami Coummunity Development District, Miami-

Dade County, Florida, Special Assessment Bonds, Series 2018

.125

11/01/28

353,444

935,000

Langley South Community Development District, Florida,

Special Assessment Revenue Bonds, Mascotte Assessment

Area One Series 2024

.400

05/01/31

946,406

1,685,000

Langley South Community Development District, Florida,

Special Assessment Revenue Bonds, Mascotte Assessment

Area One Series 2024

.125

05/01/44

1,647,488

1,590,000

Lee County Industrial Development Authority, Florida, Charter

School Revenue Bonds, Lee County Community Charter

Schools, Series 2007A

.250

06/15/27

1,590,906

5,000,000

Lee County Industrial Development Authority, Florida, Charter

School Revenue Bonds, Lee County Community Charter

Schools, Series 2007A

.375

06/15/37

4,999,993

4,420,000

(d) Lee County Industrial Development Authority, Florida, Charter

School Revenue Bonds, Lee County Community Charter

Schools, Series 2024A

.000

06/15/38

4,435,743

325,000

(d) Lee County Industrial Development Authority, Florida,

Healthcare Facilities Revenue Bonds, Preserve Project, Series

2017A

.000

12/01/27

274,347

210,000

(d) Lee County Industrial Development Authority, Florida,

Healthcare Facilities Revenue Bonds, Preserve Project, Series

2017A

.375

12/01/32

168,222

35,000

Leomas Landing Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 1,

Series 2021

.400

05/01/26

34,707

300,000

(d) Liberty Cove Community Development District, Nassau County,

Florida, Special Assessment Revenue Bonds, Assessment Area

1, Series 2024

.800

05/01/31

304,457

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,085,000

(d) Liberty Cove Community Development District, Nassau County,

Florida, Special Assessment Revenue Bonds, Assessment Area

1, Series 2024

.375

%

05/01/44

$

1,060,079

320,000

(d) Longleaf Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Neighborhood

4 Assessment Area Two Series 2024A

.375

05/01/31

323,183

715,000

(d) Longleaf Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Neighborhood

4 Assessment Area Two Series 2024A

.200

05/01/44

692,246

500,000

(d) Lowery Hills Community Development District, Lake Alfred,

Florida, Special Assessments Revenue Bonds, Assessment Area

1, Series 2025

.550

05/01/32

507,766

390,000

(d) Lowery Hills Community Development District, Lake Alfred,

Florida, Special Assessments Revenue Bonds, Assessment Area

1, Series 2025

.625

05/01/45

385,846

100,000

LTC Rance Residential Community Development District, Port

Saint Lucie, Florida, Special Assessment Bonds, Assessment

Area 1 Project, Series 2021A

.500

05/01/26

99,146

700,000

LTC Rance Residential Community Development District, Port

Saint Lucie, Florida, Special Assessment Bonds, Assessment

Area 1 Project, Series 2021A

.125

05/01/31

672,309

1,460,000

LTC Rance Residential Community Development District, Port

Saint Lucie, Florida, Special Assessment Bonds, Assessment

Area 1 Project, Series 2021B

.250

05/01/31

1,408,473

130,000

LTC Ranch Residential Community Development District, Port

Saint Lucie, Florida, Special Assessment Bonds, Assessment

Area 2 Project, Series 2024AA2

.850

05/01/31

132,862

325,000

LTC Ranch Residential Community Development District, Port

Saint Lucie, Florida, Special Assessment Bonds, Assessment

Area 2 Project, Series 2024AA2

.700

05/01/44

326,193

375,000

LTC Ranch Residential Community Development District, Port

Saint Lucie, Florida, Special Assessment Bonds, Assessment

Area 3 Project, Series 2024AA3

.875

05/01/31

382,987

1,080,000

LTC Ranch Residential Community Development District, Port

Saint Lucie, Florida, Special Assessment Bonds, Assessment

Area 3 Project, Series 2024AA3

.750

05/01/44

1,087,600

290,000

(d) LTC Ranch Residential Community Development District, Port

Saint Lucie, Florida, Special Assessment Bonds, Assessment

Area 4 Project, Refunding Series 2024AA4

.750

05/01/31

294,572

1,085,000

(d) LTC Ranch Residential Community Development District, Port

Saint Lucie, Florida, Special Assessment Bonds, Assessment

Area 4 Project, Refunding Series 2024AA4

.375

05/01/44

1,057,630

340,000

Lucerne Park Community Development District, Florida,

Special Assessment Revenue Bonds, Series 2019

.000

05/01/29

343,299

2,010,000

Magic Place Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds, Series

2019

.875

05/01/30

2,002,103

3,560,000

Magic Place Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds, Series

2019

.375

05/01/40

3,304,481

710,000

(d) Magnolia Island Community Development District, Pasco

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, series 2025

.650

05/01/32

723,482

750,000

(d) Magnolia Island Community Development District, Pasco

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, series 2025

.550

05/01/45

744,159

430,000

(d) Malabar Springs Community Development District, Florida,

Special Assessment Revenue Bonds, Palm Bay Area One Series

2024

.500

05/01/31

435,623

1,350,000

(d) Malabar Springs Community Development District, Florida,

Special Assessment Revenue Bonds, Palm Bay Area One Series

2024

.200

05/01/44

1,314,712

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

310,000

(d) Marion Ranch Community Development District, Marion

County, Florida, Special Assessment Revenue Bonds, Series

2024

.100

%

05/01/31

$

317,482

975,000

(d) Marion Ranch Community Development District, Marion

County, Florida, Special Assessment Revenue Bonds, Series

2024

.700

05/01/44

983,198

625,000

Mediterranea Community Development District, Riviera Beach,

Florida, Special Assessment Bonds, Area 2 Project, Refunding

& Improvement Series 2017

.250

05/01/29

634,247

480,000

(d) Miami Dade County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, Miami Community

Charter School Inc Project, Series 2020A

.250

06/01/30

475,887

710,000

(d) Miami Dade County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, South Florida Autism

Charter School Project, Series 2017

.250

07/01/27

715,547

1,000,000

Miami Health Facilities Authority, Florida, Health Facilities

Revenue Bonds, Miami Jewish Health System Inc. Project,

Series 2017

.000

07/01/28

995,867

1,000,000

Miami Health Facilities Authority, Florida, Health Facilities

Revenue Bonds, Miami Jewish Health System Inc. Project,

Series 2017

.000

07/01/29

994,192

1,315,000

Miami Health Facilities Authority, Florida, Health Facilities

Revenue Bonds, Miami Jewish Health System Inc. Project,

Series 2017

.000

07/01/30

1,302,861

695,000

Miami Health Facilities Authority, Florida, Health Facilities

Revenue Bonds, Miami Jewish Health System Inc. Project,

Series 2017

.000

07/01/32

677,475

4,000,000

Miami Health Facilities Authority, Florida, Health Facilities

Revenue Bonds, Miami Jewish Health System Inc. Project,

Series 2017

.125

07/01/46

3,613,709

12,835,000

(e),(f)

Miami-Dade County Expressway Authority, Florida, Toll System

Revenue Bonds, Series 2005D - AMBAC Insured (TSFR1M +

1.050%), (UB)

.518

07/01/33

12,869,522

12,830,000

(e),(f)

Miami-Dade County Expressway Authority, Florida, Toll System

Revenue Bonds, Series 2005E - AMBAC Insured (TSFR1M +

1.050%), (UB)

.518

07/01/34

12,829,956

7,400,000

(d) Miami-Dade County Housing Finance Authority, Florida,

Multifamily Housing Revenue Bonds, Edison Tower

Apartments, Series 2022A

.000

11/01/52

7,445,352

13,600,000

(d) Miami-Dade County Housing Finance Authority, Florida,

Multifamily Housing Revenue Bonds, Edison Tower

Apartments, Series 2022B

.000

11/01/26

13,691,555

16,015,000

(d) Miami-Dade County Housing Finance Authority, Florida,

Multifamily Mortgage Revenue Bonds, Wynwood Works, Series

2023B, (Mandatory Put 6/01/26)

.780

06/01/27

16,088,906

1,250,000

(d) Miami-Dade County Industrial Development Authority, Florida,

Revenue Bonds, Youth Co-Op Charter Schools Project, Series

2015A

.000

09/15/45

1,249,877

1,000,000

Miami-Dade County Industrual Development Authority,

Florida, Revenue Bonds, Doral Academy, Seres 2018

.000

01/15/32

1,025,858

31,115,000

Miami-Dade County, Florida, Aviation Revenue Bonds,

Refunding Series 2017B, (AMT)

.000

10/01/40

31,427,924

4,735,000

(d) Miami-Dade County, Florida, Special Assessment Revenue

Bonds, Ojus Sanitary Sewer Special Benefit Area, Series 2021

.100

07/01/51

4,738,050

850,000

Miami-Dade County, Florida, Water and Sewer System

Revenue Bonds, Series 2021

.000

10/01/34

943,544

250,000

(d) Middleton Community Development District A, Florida, Special

Assessment Revenue Bonds, Series 2022

.200

05/01/27

253,802

1,060,000

(d) Middleton Community Development District A, Florida, Special

Assessment Revenue Bonds, Series 2022

.450

05/01/32

1,139,721

2,555,000

(d) Middleton Community Development District A, Florida, Special

Assessment Revenue Bonds, Series 2022

.850

05/01/37

2,717,184

3,445,000

(d) Middleton Community Development District A, Florida, Special

Assessment Revenue Bonds, Series 2022

.100

05/01/42

3,625,476

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

2,345,000

(d) Mirada Community Development District, Florida, Capital

Improvement Bonds, Assessment Area 3 Series 2024

.625

%

05/01/44

$

2,334,283

1,055,000

(d) Mirada Community Development District, Florida, Capital

Improvement Bonds, Assessment Area 5 Series 2024

.000

05/01/34

1,086,177

170,000

Mirada II Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2021

.500

05/01/26

166,536

760,000

Mirada II Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2021

.125

05/01/31

703,195

370,000

(d) Naples Reserve Community Development District, Collier

County, Florida, Special Assessment Bonds, Series 2018

.625

11/01/29

377,720

2,070,000

(d) Normandy Community Development District, Florida, Capital

Improvement Revenue Bonds, Jacksonville Assessment Area

One Series 2024

.300

05/01/44

2,002,307

55,000

North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 1,

Series 2021

.625

05/01/26

54,588

320,000

North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 1,

Series 2021

.125

05/01/31

307,497

120,000

(d) North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2,

Series 2021A

.625

05/01/26

119,102

285,000

(d) North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2,

Series 2021A

.250

05/01/31

275,636

600,000

(d) North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2,

Series 2021A

.550

05/01/41

507,254

235,000

(d) North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 4,

Series 2024

.625

05/01/31

239,586

815,000

(d) North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 4,

Series 2024

.450

05/01/44

816,919

550,000

(d) North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 5,

Series 2024

.875

05/01/31

562,559

620,000

(d) North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 5,

Series 2024

.750

05/01/44

628,993

250,000

North Boulevard Community Development District, Haines,

Polk County, Florida, Special Assessment Bonds, Series 2019

.750

11/01/29

255,515

620,000

North Park Isle Community Development District, Plant City,

Florida, Special Assessment Revenue Bonds, Assessment Area

1, Series 2019

.000

05/01/30

626,395

75,000

North Park Isle Community Development District, Plant City,

Florida, Special Assessment Revenue Bonds, Assessment Area

2, Series 2021

.450

11/01/26

73,940

500,000

North Park Isle Community Development District, Plant City,

Florida, Special Assessment Revenue Bonds, Assessment Area

2, Series 2021

.000

11/01/31

476,030

1,585,000

North Park Isle Community Development District, Plant City,

Florida, Special Assessment Revenue Bonds, Assessment Area

2, Series 2021

.375

11/01/41

1,314,470

490,000

North Powerline Road Community Development District, Polk

County, Florida, Special Assessment Revenue Bonds, Series

2020

.125

05/01/30

478,840

90,000

(d) North Powerline Road Community Development District, Polk

County, Florida, Special Assessment Revenue Bonds, Series

2022

.750

05/01/27

90,843

210,000

(d) North Powerline Road Community Development District, Polk

County, Florida, Special Assessment Revenue Bonds, Series

2022

.250

05/01/32

218,923

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,400,000

Northern Palm Beach County Improvement District, Florida,

Water Control and Improvement Bonds, Development Unit 2C,

Series 2017

.000

%

08/01/32

$

1,431,840

900,000

Northern Palm Beach County Improvement District, Florida,

Water Control and Improvement Bonds, Development Unit 53,

Series 2018A

.875

08/01/29

924,947

240,000

Northern Palm Beach County Improvement District, Florida,

Water Control and Improvement Bonds, Development Unit 53,

Series 2021

.300

08/01/26

236,730

1,310,000

Northern Palm Beach County Improvement District, Florida,

Water Control and Improvement Bonds, Development Unit 53,

Series 2021

.875

08/01/31

1,216,674

445,000

(d) Northlake Stewardship District, Manatee County, Florida,

Special Assessment Bonds, Rye Ranch Pod C1 - Assessment

Area 1, Series 2025

.250

05/01/30

446,420

80,000

Oaks Shady Creek Community Development District, Florida,

Special Assessment Bonds, Series 2015

.250

11/01/25

80,019

285,000

Old Hickory Community Development District, Osceola

County, Florida, Special Assessment Bonds, Series 2020

.000

06/15/30

277,809

3,525,000

Orange County Health Facilities Authority, Florida, Hospital

Revenue Bonds, Orlando Health, Inc., Refunding Series 2016A

.000

10/01/36

3,575,570

25,000

(d) Osceola Village Center Community Development District,

Florida, Special Assessment Bonds, 2021 Project, Series 2021

.375

05/01/26

24,778

175,000

(d) Osceola Village Center Community Development District,

Florida, Special Assessment Bonds, 2021 Project, Series 2021

.875

05/01/31

165,818

370,000

(d) Osceola Village Center Community Development District,

Florida, Special Assessment Bonds, 2021 Project, Series 2021

.300

05/01/41

301,468

380,000

(d) Pacific Ace Community Development District, Lake County,

Florida, Special Assessment Revenue Bonds, Area 2 Series

2024

.450

05/01/31

388,539

610,000

(d) Pacific Ace Community Development District, Lake County,

Florida, Special Assessment Revenue Bonds, Area 2 Series

2024

.200

05/01/44

604,622

305,000

Palermo Community Development District, Lee County,

Florida, Special Assessment Bonds, Area 2, Series 2025

.375

06/15/32

311,303

745,000

Palermo Community Development District, Lee County,

Florida, Special Assessment Bonds, Area 2, Series 2025

.350

06/15/45

752,170

150,000

Palm Beach County Health Facilities Authority, Florida, Revenue

Bonds, Toby & Leon Cooperman Sinai Residences of Boca

Raton, Refunding Series 2022

.000

06/01/26

150,232

1,000,000

Palm Beach County, Florida, Revenue Bonds, Provident Group

- LU Properties LLC Lynn University Housing Project, Series

2024A

.000

06/01/44

977,788

440,000

Palm Beach County, Florida, Revenue Bonds, Provident Group

- LU Properties LLC Lynn University Housing Project, Taxable

Series 2024B

.500

06/01/33

450,930

2,275,000

(d) Palm Beach County, Florida, Revenue Bonds, Provident Group

- PBAU Properties II LLC - Palm Beach Atlantic University

Housing Project, Senior Series 2025A

.500

10/01/35

2,503,960

5,300,000

(d) Palm Beach County, Florida, Revenue Bonds, Provident Group

- PBAU Properties II LLC - Palm Beach Atlantic University

Housing Project, Senior Series 2025A

.500

10/01/45

5,383,781

690,000

(d) Palm Beach County, Florida, Revenue Bonds, Provident Group

- PBAU Properties LLC - Palm Beach Atlantic University Housing

Project, Series 2019A

.000

04/01/29

703,900

400,000

Palm Glades Community Development District, Florida, Special

Assessment Bonds, Refunding Series 2017

.000

05/01/27

401,783

60,000

(d) Park East Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2021

.400

11/01/26

58,902

650,000

(d) Park East Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2021

.875

11/01/31

606,757

1,285,000

(d) Park East Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2021

.150

11/01/41

1,016,650

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

415,000

Parker Pointe Community Development District, Miami-Dade

County, Florida, Special Assessment Revenue Bonds, Series

2024

.950

%

05/01/31

$

422,511

700,000

Parker Pointe Community Development District, Miami-Dade

County, Florida, Special Assessment Revenue Bonds, Series

2024

.500

05/01/44

699,592

335,000

Parker Road Community Development District, Florida, Capital

Improvement Revenue Bonds, Refudning Series 2020

.375

05/01/30

323,456

685,000

Parkland Preserve Community Development District, Saint

Johns County, Florida, Special Assessment Revenue Bonds,

Series 2019A

.750

05/01/30

704,162

230,000

Parrish Lakes Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, Series 2023

.000

05/01/30

232,370

940,000

Parrish Lakes Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, Series 2023

.125

05/01/43

932,427

520,000

(d) Parrish Lakes Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 2, Series 2023A

.625

05/01/30

530,537

1,155,000

(d) Parrish Lakes Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 2, Series 2023A

.375

05/01/43

1,163,518

945,000

(d) Parrish Lakes Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 3, Series 2024

.500

05/01/44

943,359

1,180,000

(d) Parrish Lakes II Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area One Series 2024

.250

05/01/31

1,194,048

3,255,000

(d) Parrish Lakes II Community Development District, Manatee

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area One Series 2024

.125

05/01/44

3,156,378

335,000

Parrish Plantation Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1, Series 2021

.125

05/01/31

324,200

1,000,000

Parrish Plantation Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1, Series 2021

.500

05/01/41

842,951

310,000

(d) Parrish Plantation Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 3 Project, Series 2024

.875

05/01/31

317,901

680,000

(d) Parrish Plantation Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 3 Project, Series 2024

.800

05/01/44

694,957

85,000

(d) Parrish Plantation Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 4 Project, Series 2021

.750

05/01/31

87,204

250,000

(d) Parrish Plantation Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 4 Project, Series 2021

.625

05/01/44

253,903

670,000

Pasadena Ridge Community Development District, Pasco

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area Two, Series 2024

.350

05/01/31

678,377

1,325,000

Pasadena Ridge Community Development District, Pasco

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area Two, Series 2024

.050

05/01/44

1,285,381

375,000

(d) Peace Creek Community Development District, Winter Haven,

Florida, Special Assessment Revenue Bonds, Area One Series

2023

.250

06/15/30

381,828

1,475,000

(d) Peace Creek Community Development District, Winter Haven,

Florida, Special Assessment Revenue Bonds, Area One Series

2023

.125

06/15/43

1,489,633

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

445,000

(d) Peace Creek Village Community Development District, Winter

Haven, Florida, Special Assessment Revenue Bonds, Series

2025

.500

%

05/01/32

$

452,246

710,000

(d) Peace Creek Village Community Development District, Winter

Haven, Florida, Special Assessment Revenue Bonds, Series

2025

.600

05/01/45

706,985

85,000

(d) Pine Isle Community Development District, Miami-Dade

County, Florida, Special Assessment Bonds, Series 2021

.375

12/15/26

83,990

225,000

Pinellas County Industrial Development Authority, Florida,

Industrial Development Revenue Bonds, Drs. Kiran & Pallavi

Patel 2017 Foundation for Global Understanding, Inc., Project,

Series 2019

.000

07/01/39

222,435

490,000

(d) Pioneer Ranch Community Development District, Marion

County, Florida, Special Assessment Bonds, Series 2024

.200

05/01/31

493,916

980,000

(d) Pioneer Ranch Community Development District, Marion

County, Florida, Special Assessment Bonds, Series 2024

.000

05/01/44

939,365

155,000

Poinciana West Community Development District, Florida,

Special Assessment Bonds, Refunding Subordinate Series

2016-2

.375

05/01/30

158,930

1,495,000

Poitras East Community Development District, Osceola County,

Florida, Special Assessment Revenue Bonds, Series 2025

.875

05/01/35

1,506,887

55,000

Preserve at South Branch Community Development District,

Pasco County, Florida, Special Assessment Revenue Bonds,

Phase 3 Series 2021

.500

05/01/26

54,671

205,000

Prosperity Lakes Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Series 2023

.150

12/15/30

213,212

690,000

Prosperity Lakes Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Series 2023

.875

12/15/43

726,702

130,000

(d) Ranches at Lake McLeod Community Development District,

Polk County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2023

.625

06/15/30

133,147

620,000

(d) Ranches at Lake McLeod Community Development District,

Polk County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2023

.250

06/15/43

628,288

300,000

(d) Ranches at Lake McLeod Community Development District,

Polk County, Florida, Special Assessment Revenue Bonds,

Assessment Area 2 Series 2025

.250

06/15/30

305,063

370,000

(d) Ranches at Lake McLeod Community Development District,

Polk County, Florida, Special Assessment Revenue Bonds,

Assessment Area 2 Series 2025

.550

06/15/35

377,178

90,000

Randal Park Community Development District, Orlando,

Florida, Special Assessment Revenue Bonds, Series 2015

.250

11/01/25

90,021

325,000

(d) Regal Village Community Development District, Florida City,

Florida, Capital Improvement Revenue Bonds, Series 2024

.250

05/01/31

330,047

700,000

(d) Regal Village Community Development District, Florida City,

Florida, Capital Improvement Revenue Bonds, Series 2024

.200

05/01/44

698,760

80,000

Reunion East Community Development District, Osceola

County, Florida, Special Assessment Bonds, Series 2021

.400

05/01/26

79,366

70,000

Reunion East Community Development District, Osceola

County, Florida, Special Assessment Bonds, Series 2021

.850

05/01/31

66,511

195,000

Reunion East Community Development District, Osceola

County, Florida, Special Assessment Bonds, Series 2021

.150

05/01/41

161,516

405,000

Reunion West Community Development District, Florida,

Special Assessment Bonds, Area 3 Project, Series 2016

.375

11/01/28

408,855

545,000

(d) Reunion West Community Development District, Florida,

Special Assessment Bonds, Area 4 Project, Series 2017

.250

11/01/28

552,099

285,000

(d) Reunion West Community Development District, Florida,

Special Assessment Bonds, Refunding Series 2022

.000

05/01/26

284,022

290,000

(d) Reunion West Community Development District, Florida,

Special Assessment Bonds, Refunding Series 2022

.000

05/01/27

287,434

400,000

(d) Reunion West Community Development District, Florida,

Special Assessment Bonds, Refunding Series 2022

.000

05/01/28

394,891

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

425,000

(d) Reunion West Community Development District, Florida,

Special Assessment Bonds, Refunding Series 2022

.000

%

05/01/29

$

417,839

455,000

(d) Reunion West Community Development District, Florida,

Special Assessment Bonds, Refunding Series 2022

.000

05/01/30

443,195

440,000

(d) Reunion West Community Development District, Florida,

Special Assessment Bonds, Refunding Series 2022

.000

05/01/31

425,007

1,305,000

(d) Reunion West Community Development District, Florida,

Special Assessment Bonds, Refunding Series 2022

.000

05/01/36

1,179,216

425,000

Reunion West Community Development District, Osceola

County, Florida, Special Assessment Bonds, Area 5 Project,

Series 2019

.000

05/01/30

429,172

50,000

Rhodine Road North Community Development District,

Hillsborough County, Florida, Special Assessment Bonds,

Series 2022

.600

05/01/27

49,389

105,000

River Glen Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 2, Series 2021

.375

05/01/26

104,038

350,000

River Glen Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 2, Series 2021

.000

05/01/31

334,998

1,970,000

River Glen Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 2, Series 2021

.375

05/01/41

1,653,137

190,000

(d) River Hall Community Development District, Lee County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 4 Series 2023A

.375

05/01/30

196,788

700,000

(d) River Hall Community Development District, Lee County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 4 Series 2023A

.250

05/01/43

737,697

1,000,000

River Hall Community Development District, Lee County,

Florida, Capital Improvement Revenue Bonds, Refunding

Series 2021A-1

.000

05/01/31

956,652

1,000,000

River Hall Community Development District, Lee County,

Florida, Capital Improvement Revenue Bonds, Refunding

Series 2021A-1

.000

05/01/36

874,514

895,000

River Hall Community Development District, Lee County,

Florida, Capital Improvement Revenue Bonds, Refunding

Series 2021A-2

.000

05/01/31

856,204

895,000

River Hall Community Development District, Lee County,

Florida, Capital Improvement Revenue Bonds, Refunding

Series 2021A-2

.000

05/01/36

781,999

285,000

Rivers Edge Community Development District, Florida, Capital

Improvement Revenue Bonds, Refunding Subordinate Lien

Series 2018A-2

.375

05/01/28

288,604

100,000

Rivers Edge II Community Development District, Florida,

Capital Improvement Revenue Bonds, Series 2021

.400

05/01/26

99,123

300,000

Rivers Edge II Community Development District, Florida,

Capital Improvement Revenue Bonds, Series 2021

.000

05/01/31

286,414

940,000

Rivers Edge II Community Development District, Florida,

Capital Improvement Revenue Bonds, Series 2021

.500

05/01/41

790,556

60,000

(d) Rivers Edge III Community Development District, Florida,

Capital Improvement Revenue Bonds, Series 2021

.400

05/01/26

59,480

300,000

(d) Rivers Edge III Community Development District, Florida,

Capital Improvement Revenue Bonds, Series 2021

.000

05/01/31

286,414

780,000

(d) Rivers Edge III Community Development District, Florida,

Capital Improvement Revenue Bonds, Series 2021

.500

05/01/41

651,493

95,000

Rolling Hills Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2015A-1

.125

05/01/26

95,483

285,000

Rolling Hills Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2020A-1

.875

05/01/30

285,103

805,000

Rolling Hills Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2020A-1

.625

05/01/40

786,417

1,010,000

Rolling Oaks Community Development District, Florida, Special

Assessment Bonds, Series 2016

.250

11/01/28

1,035,933

400,000

(d) Rolling Oaks Community Development District, Florida, Special

Assessment Bonds, Series 2018

.875

11/01/28

408,237

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

170,000

(d) Rolling Oaks Community Development District, Osceola

County, Florida, Special Assessment Bonds, 2022 Assessment

Area, Series 2022

.625

%

05/01/29

$

174,462

830,000

(d) Rolling Oaks Community Development District, Osceola

County, Florida, Special Assessment Bonds, 2022 Assessment

Area, Series 2022

.250

05/01/42

868,578

410,000

(d) Rookery Community Development District, Florida, Special

Assessment Revenue Bonds, Green Cove Springs Capital

Improvement Assessment Area One Series 2024

.250

05/01/31

414,017

1,000,000

(d) Rookery Community Development District, Florida, Special

Assessment Revenue Bonds, Green Cove Springs Capital

Improvement Assessment Area One Series 2024

.000

05/01/44

959,672

270,000

(d) Rye Crossing Community Development District, Manatee

County, Florida, Revenue Bonds, Capital Improvement

Assessment Area 2 Series 2024

.200

05/01/31

272,736

750,000

(d) Rye Crossing Community Development District, Manatee

County, Florida, Revenue Bonds, Capital Improvement

Assessment Area 2 Series 2024

.000

05/01/44

724,897

750,000

(d) Rye Ranch Community Development District, Florida, Special

Assessment Revenue Bonds, Pod B - Assessment Area 1 Series

2023

.750

11/01/43

764,870

270,000

(d) Sabal Palm Community Development District, Florida, Special

Assessment Bonds, South Parcel Series 2017

.250

11/01/28

272,979

995,000

Saint Augustine Lakes Community Development District,

Saint Johns County, Florida, Special Assessment Bonds, 2022

Project, Series 2022

.375

06/15/42

1,014,179

3,284,918

(d) Saint Johns County Housing Authority, Florida, Multifamily

Mortgage Revenue Bonds, Victoria Crossing, Series 2021A,

(Mandatory Put 4/01/39)

.920

04/01/59

2,666,663

450,000

(d) Saltleaf Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2024

.750

05/01/31

461,098

1,300,000

(d) Saltleaf Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2024

.625

05/01/44

1,313,180

110,000

Saltmeadows Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds,

Assessment Area 1, Series 2022

.625

05/01/29

112,114

325,000

Savanna Lakes Community Development District, Lee County,

Florida, Special Assessment Revenue Bonds, Assessment Area

Two Series 2024

.625

06/15/31

330,655

625,000

Savanna Lakes Community Development District, Lee County,

Florida, Special Assessment Revenue Bonds, Assessment Area

Two Series 2024

.250

06/15/44

620,164

540,000

(d) Sawgrass Village Community Development District, Manatee

County, Florida, Special Assessment Bonds, 2023 Project Series

2023

.875

05/01/30

552,584

2,360,000

(d) Sawgrass Village Community Development District, Manatee

County, Florida, Special Assessment Bonds, 2023 Project Series

2023

.500

05/01/43

2,392,713

355,000

Sawgrass Village Community Development District, Manatee

County, Florida, Special Assessment Bonds, Assessment Area 2

Series 2023

.250

11/01/30

366,652

1,000,000

Sawgrass Village Community Development District, Manatee

County, Florida, Special Assessment Bonds, Assessment Area 2

Series 2023

.125

11/01/43

1,042,757

260,000

(d) Sawgrass Village Community Development District, Manatee

County, Florida, Special Assessment Bonds, Assessment Area 3

Series 2024

.700

05/01/31

265,359

750,000

(d) Sawgrass Village Community Development District, Manatee

County, Florida, Special Assessment Bonds, Assessment Area 3

Series 2024

.550

05/01/44

751,249

215,000

(d) Scenic Terrace South Community Development District, Lake

Hamilton, Florida, Special Assessment Revenue Bonds, Series

2022 Project, Series 2022

.750

05/01/27

214,770

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

690,000

(d) Scenic Terrace South Community Development District, Lake

Hamilton, Florida, Special Assessment Revenue Bonds, Series

2022 Project, Series 2022

.125

%

05/01/32

$

693,927

875,000

(d) Seagrove Community Development District, St. Lucie County,

Florida, Special Assessment Revenue Bonds, Series 2024

.250

06/15/31

886,106

1,000,000

(d) Seagrove Community Development District, St. Lucie County,

Florida, Special Assessment Revenue Bonds, Series 2024

.875

06/15/44

951,577

185,000

(d) Seaton Creek Reserve Community Development District,

Jacksonville, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2023

.625

06/15/30

189,600

825,000

(d) Seaton Creek Reserve Community Development District,

Jacksonville, Florida, Special Assessment Revenue Bonds,

Assessment Area 1 Series 2023

.250

06/15/43

840,248

205,000

Sedona Point Community Development District, Florida,

Special Assessment Bonds, Project Series 2023

.125

06/15/30

208,870

825,000

Sedona Point Community Development District, Florida,

Special Assessment Bonds, Project Series 2023

.000

06/15/43

834,020

5,415,000

Seminole County Industrial Development Authority, Florida,

Retirement Facility Revenue Bonds, Legacy Pointe At UCF

Project, Series 2019A

.000

11/15/29

5,544,131

6,700,000

Seminole County Industrial Development Authority, Florida,

Retirement Facility Revenue Bonds, Legacy Pointe At UCF

Project, Series 2019A

.750

11/15/54

6,215,337

680,000

(d) Seminole Palms Community Development District, Palm Coast,

Florida, Special Assessment Revenue Bonds, 2024 Project Area

2 Series 2024

.450

05/01/31

687,661

1,220,000

(d) Seminole Palms Community Development District, Palm Coast,

Florida, Special Assessment Revenue Bonds, 2024 Project Area

2 Series 2024

.200

05/01/44

1,163,397

375,000

(d) Sherwood Manor Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Area One, Series 2018

.625

11/01/29

383,101

105,000

Shingle Creek at Branson Community Development District,

Osceola County, Florida, Special Assessment Revenue Bonds,

Series 2021

.500

06/15/26

104,144

260,000

(d) Silver Oaks Community Development District, St. Lucie County,

Florida, Special Assessment Bonds, Series 2024

.700

05/01/31

265,583

995,000

(d) Silver Oaks Community Development District, St. Lucie County,

Florida, Special Assessment Bonds, Series 2024

.550

05/01/44

1,002,063

140,000

(d) Silverado Community Development District, Florida, Capital

Improvement Revenue Bonds, Assessment Area 1A, Series

2018A-1

.000

11/01/28

142,955

30,000

(d) Silverado Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2017A-1

.000

11/01/27

30,374

685,000

Six Mile Creek Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2

Phase 2, Series 2017A

.500

11/01/28

696,124

55,000

Six Mile Creek Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2

Phase 3B, Refunding Series 2021

.500

05/01/26

54,524

325,000

Six Mile Creek Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2

Phase 3B, Refunding Series 2021

.100

05/01/31

312,530

1,000,000

Six Mile Creek Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2

Phase 3B, Refunding Series 2021

.400

05/01/41

829,308

255,000

Six Mile Creek Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2,

Series 2016

.750

11/01/28

260,598

1,085,000

(d) Solaeris Community Development District, St. Lucie County,

Florida, Special Assessment Bonds, Area 2 Project, Series 2025

.625

05/01/32

1,099,282

1,585,000

(d) Solaeris Community Development District, St. Lucie County,

Florida, Special Assessment Bonds, Area 2 Project, Series 2025

.000

05/01/45

1,615,443

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

800,000

Solterra Resort Community Development District, Polk County,

Florida, Special Assessment Bonds, Series 2018

.750

%

05/01/29

$

817,749

330,000

(d) Somerset Bay Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, Series 2024

.850

05/01/31

335,077

1,000,000

(d) Somerset Bay Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area 1, Series 2024

.625

05/01/44

977,465

30,000

South Creek Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Area 1

Series 2021

.375

06/15/26

29,734

490,000

South Fork III Community Development District, Florida,

Special Assessment Revenue Bonds, Refunding Series 2016

.000

05/01/29

500,042

490,000

South Fork III Community Development District, Florida,

Special Assessment Revenue Bonds, Refunding Series 2018

.625

05/01/29

501,247

70,000

South Village Community Development District, Clay County,

Florida, Capital Improvement Revenue Bonds, Refunding

Series 2016A2

.350

05/01/26

70,228

15,000

Southern Grove Community Develoment District 5, Port

Saint Lucie, Florida, Special Assessment Bonds, Community

Infrastructure Series 2021

.400

05/01/26

14,887

275,000

Southern Grove Community Development District 5, Florida,

Special Assessment Infrastructure Bonds, Series 2019

.250

05/01/29

270,207

370,000

Southern Grove Community Development District 5, Florida,

Special Assessment Infrastructure Bonds, Series 2019

.600

05/01/34

353,122

365,000

Southshore Bay Community Development District,

Hillsborough County, Florida, Capital Improvement Revenue

Bonds, Assessment Area 2, Series 2024

.750

05/01/31

370,759

680,000

Southshore Bay Community Development District,

Hillsborough County, Florida, Capital Improvement Revenue

Bonds, Assessment Area 2, Series 2024

.375

05/01/44

673,693

355,000

Spencer Creek Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Series

2019

.375

05/01/29

361,151

690,000

(d) Spring Lake Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Area Two Project,

Series 2017

.500

11/01/28

700,655

45,000

(d) Stellar North Community Development District, Miami-Dade

County, Florida, Special Assessment Bonds, 2021 Project,

Series 2021

.450

05/01/26

44,598

325,000

(d) Stellar North Community Development District, Miami-Dade

County, Florida, Special Assessment Bonds, 2021 Project,

Series 2021

.000

05/01/31

310,124

850,000

(d) Stellar North Community Development District, Miami-Dade

County, Florida, Special Assessment Bonds, 2021 Project,

Series 2021

.200

05/01/41

679,486

85,000

(d) Stillwater Community Development District, Saint John's

County, Florida, Special Assessment Bonds, 2021 Project

Series 2021

.375

06/15/26

84,089

200,000

(d) Stillwater Community Development District, Saint John's

County, Florida, Special Assessment Bonds, 2021 Project

Series 2021

.000

06/15/31

189,992

275,000

(d) Stonegate Preserve Community Development District,

Manatee County, Florida, Special Assessment Revenue Bonds,

2025 Project Area Series 2025

.375

06/15/30

279,526

500,000

(d) Stonegate Preserve Community Development District,

Manatee County, Florida, Special Assessment Revenue Bonds,

2025 Project Area Series 2025

.800

06/15/35

513,904

750,000

(d) Stonegate Preserve Community Development District,

Manatee County, Florida, Special Assessment Revenue Bonds,

2025 Project Area Series 2025

.700

06/15/45

767,254

55,000

(d) Stonewater Community Development District, Cape Coral,

Florida, Special Assessment Revenue Bonds, Refunding Series

2021

.250

11/01/26

54,135

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

355,000

(d) Stonewater Community Development District, Cape Coral,

Florida, Special Assessment Revenue Bonds, Refunding Series

2021

.000

%

11/01/32

$

331,687

750,000

(d) Stonewater Community Development District, Cape Coral,

Florida, Special Assessment Revenue Bonds, Refunding Series

2021

.300

11/01/41

610,695

125,000

Stoneybrook North Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area One

Project, Series 2017A-1

.000

11/01/27

126,461

1,255,000

Stoneybrook North Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area One

Project, Series 2017A-3

.875

11/01/29

1,268,103

110,000

(d) Stoneybrook North Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area Two

Project, Series 2022

.500

11/01/29

113,026

850,000

Stoneybrook South at Championsgate Community

Development District, Osceola County, Florida, Special

Assessment Revenue Bonds, 2019 Assessment Area Series

2019NM

.000

06/15/30

868,029

450,000

Stoneybrook South at Championsgate Community

Development District, Osceola County, Florida, Special

Assessment Revenue Bonds, Parcel K Assessment Area, Series

2017

.000

12/15/28

454,881

505,000

Storey Creek Community Development District, Osceloa

County, Florida, Special Assessment Bonds, Assessment Area 1

Project, Series 2019

.625

12/15/30

499,538

80,000

(d) Storey Drive Community Development District, Orlando,

Florida, Special Assessment Revenue Bonds, Series 2022

.550

06/15/27

78,397

375,000

(d) Storey Drive Community Development District, Orlando,

Florida, Special Assessment Revenue Bonds, Series 2022

.000

06/15/32

351,523

1,000,000

(d) Storey Drive Community Development District, Orlando,

Florida, Special Assessment Revenue Bonds, Series 2022

.250

06/15/42

795,689

20,000

(d) Storey Park Community Development District, Orlando,

Florida, Special Assessment Revenue Bonds, Assessment Area

Four Project, Series 2021

.375

06/15/26

19,836

225,000

Storey Park Community Development District, Orlando,

Florida, Special Assessment Revenue Bonds, Assessment Area

One Project, Series 2015

.500

11/01/26

225,188

385,000

(d) Summer Woods Community Development District, Manatee

County, Florida, Special Assessment Bonds, Area 1 Project,

Series 2018A-1

.000

11/01/29

395,447

125,000

Summer Woods Community Development District, Manatee

County, Florida, Special Assessment Bonds, Area 2 Project,

Series 2020

.750

05/01/40

109,816

50,000

(d) Summer Woods Community Development District, Manatee

County, Florida, Special Assessment Bonds, Area 3, Series

2021

.500

05/01/26

49,570

300,000

(d) Summer Woods Community Development District, Manatee

County, Florida, Special Assessment Bonds, Area 3, Series

2021

.150

05/01/31

288,651

720,000

(d) Summer Woods Community Development District, Manatee

County, Florida, Special Assessment Bonds, Area 3, Series

2021

.450

05/01/41

597,524

65,000

(d) Summerstone Community Development District, Pasco County,

Florida, Special Assessment Revenue Bonds, Phase 2 Series

2021

.200

05/01/26

64,462

300,000

(d) Summerstone Community Development District, Pasco County,

Florida, Special Assessment Revenue Bonds, Phase 2 Series

2021

.750

05/01/31

293,138

400,000

(d) Summit View Community Development District, Dade City,

Florida, Special Assessment Area Two Revenue Bonds, Series

2024

.750

05/01/31

408,702

1,210,000

Three Rivers Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2019A-1

.125

05/01/29

1,221,331

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

4,155,000

Three Rivers Community Development District, Florida, Special

Assessment Revenue Bonds, Series 2019A-1

.500

%

05/01/39

$

4,057,274

4,170,000

(d) Three Rivers Community Development District, Florida, Special

Assessment Revenue Bonds, South Assessment Area Series

2021B

.625

05/01/36

4,132,554

325,000

(d) Timber Creek Community Development District, Hillsborough

County, Florida, Special Assessment Revenue Bonds, Series

2018

.625

11/01/29

332,123

220,000

(d) Timber Creek Southwest Community Development District,

Lee County, Florida, Special Assessment Bonds, Area 2 Project,

Series 2021

.350

12/15/26

216,532

800,000

(d) Timber Creek Southwest Community Development District,

Lee County, Florida, Special Assessment Bonds, Area 2 Project,

Series 2021

.000

12/15/31

759,828

130,000

(d) Tolomato Community Development District, Florida, Special

Assessment Bonds, Expansion Parcel Project, Series 2018

.350

05/01/28

131,742

540,000

(d) Tolomato Community Development District, Florida, Special

Assessment Bonds, Refunding Senior Lien Series 2018A-2

.200

05/01/28

553,724

1,755,000

(d) Tolomato Community Development District, Florida, Special

Assessment Bonds, Refunding Series 2022A - AGM Insured

.000

05/01/30

1,756,802

1,865,000

(d) Tolomato Community Development District, Florida, Special

Assessment Bonds, Refunding Series 2022A - AGM Insured

.000

05/01/32

1,849,192

1,525,000

(d) Tolomato Community Development District, Florida, Special

Assessment Bonds, Refunding Series 2022B

.000

05/01/32

1,439,234

760,000

(d) Tolomato Community Development District, Florida, Special

Assessment Bonds, Refunding Series 2022C

.800

05/01/27

749,692

1,485,000

(d) Tolomato Community Development District, Florida, Special

Assessment Bonds, Refunding Series 2022C

.200

05/01/32

1,401,215

305,000

Tolomato Community Development District, Florida, Special

Assessment Bonds, Refunding Subordinate Lien Series

2018B-2

.625

05/01/28

309,988

550,000

Tolomato Community Development District, Florida, Special

Assessment Bonds, Refunding Subordinate Lien Series

2019A-2

.850

05/01/29

555,668

305,000

Toscana Isles Community Development District, Venice,

Florida, Special Assessment Revenue Bonds, Series 2014

.750

11/01/27

312,123

735,000

Touchstone Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, 2019 Project,

Series 2019

.625

12/15/31

718,420

100,000

Towne Park Community Development District, Florida, Special

Assessment Bonds, Area 2B Project, Series 2018

.000

05/01/28

102,088

455,000

Towne Park Community Development District, Florida, Special

Assessment Bonds, Area 3A Project, Series 2018

.000

05/01/28

464,534

310,000

Towne Park Community Development District, Florida, Special

Assessment Bonds, Area 3B Project, Series 2019

.000

05/01/30

313,035

500,000

Towne Park Community Development District, Florida, Special

Assessment Bonds, Area 3C Project, Series 2019

.000

05/01/31

504,432

60,000

Towne Park Community Development District, Florida, Special

Assessment Bonds, Series 2016

.000

11/01/28

60,947

285,000

Tradition Community Development District 1, Port Saint Lucie,

Florida, Irrigation System Revenue Bonds, Existing System

Series 2017

.000

10/01/27

286,167

1,500,000

Tradition Community Development District 1, Port Saint Lucie,

Florida, Irrigation System Revenue Bonds, Existing System

Series 2017

.500

10/01/47

1,350,939

35,000

Tradition Community Development District 9, Port Saint Lucie,

Florida, Special Assessment Bonds, Series 2021

.300

05/01/26

34,697

115,000

Tradition Community Development District 9, Port Saint Lucie,

Florida, Special Assessment Bonds, Series 2021

.700

05/01/31

108,187

530,000

Tradition Community Development District 9, Port Saint Lucie,

Florida, Special Assessment Bonds, Series 2025

.350

05/01/32

544,362

710,000

Tradition Community Development District 9, Port Saint Lucie,

Florida, Special Assessment Bonds, Series 2025

.400

05/01/45

701,884

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

45,000

Trevesta Community Development District, Manatee County,

Florida, Special Assessment Revenue Bonds, 2016 Project,

Series 2016A-1

.000

%

11/01/26

$

45,351

335,000

(d) Trevesta Community Development District, Manatee County,

Florida, Special Assessment Revenue Bonds, Assessment Area

1 - Phase 2 Project, Series 2018

.750

11/01/29

344,002

405,000

Triple Creek Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Series 2019A

.125

05/01/29

409,780

250,000

Triple Creek Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Village N&P

Project, Series 2021

.500

11/01/26

246,363

250,000

Triple Creek Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Village N&P

Project, Series 2021

.000

11/01/31

236,843

1,000,000

Triple Creek Community Development District, Hillsborough

County, Florida, Special Assessment Bonds, Village N&P

Project, Series 2021

.500

11/01/41

837,174

240,000

Trout Creek Community Development District, Saint Johns

County, Florida, Capital Improvement Revenue Bonds, Series

2018

.000

05/01/28

244,734

410,000

TSR Community Development District, Pasco County, Florida,

Special Assessment Revenue Bonds, Northwest Assessment

Area Parcels A, B & C, Series 2018

.500

11/01/29

418,151

4,500,000

Tuckers Pointe Community Development District, Charlotte

County, Florida, Special Assessment Notes, Master

Infrastructure Project, Series 2022

.625

05/01/32

4,398,189

215,000

Turtle Run Community Development District, Florida, Special

Assessment Benefit Tax Bonds, Series 2017-2

.000

05/01/28

216,601

1,210,000

Twin Creeks North Community Development District,

Florida, Special Assessment Bonds, Master Infrastructure

Improvements, Series 2016A-1

.750

11/01/28

1,239,772

955,000

Twin Creeks North Community Development District,

Florida, Special Assessment Bonds, Master Infrastructure

Improvements, Series 2016A-2

.000

11/01/31

1,004,666

85,000

Two Creeks Community Development District, Florida, Capital

Improvement Revenue Bonds, Refunding Subordinate Lien

Series 2016A-2

.200

05/01/26

85,203

410,000

(d) Two Rivers East Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds, 2023

Project Series 2023

.875

05/01/30

419,650

4,400,000

(d) Two Rivers East Community Development District, Pasco

County, Florida, Special Assessment Revenue Bonds, 2023

Project Series 2023

.750

05/01/43

4,506,917

260,000

(d) Two Rivers North Community Development District, Pasco

County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.625

05/01/27

261,608

600,000

(d) Two Rivers North Community Development District, Pasco

County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.875

05/01/32

619,610

1,540,000

(d) Two Rivers North Community Development District, Pasco

County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.125

05/01/42

1,545,356

270,000

(d) Two Rivers West Community Development District, Pasco

County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.250

05/01/28

275,387

650,000

(d) Two Rivers West Community Development District, Pasco

County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.375

05/01/33

687,732

2,280,000

(d) Two Rivers West Community Development District, Pasco

County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.000

05/01/43

2,370,542

425,000

(d) Two Rivers West Community Development District, Pasco

County, Florida, Special Assessment Bonds, 2024 Project,

Series 2024

.800

05/01/31

434,388

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

450,000

(d) Two Rivers West Community Development District, Pasco

County, Florida, Special Assessment Bonds, 2024 Project,

Series 2024

.625

%

05/01/44

$

455,484

110,000

Union Park Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2016A-1

.750

11/01/27

111,404

260,000

(d) Union Park East Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 1

Series 2017A-1

.000

11/01/27

263,527

580,000

(d) Union Park East Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2

Series 2019A-1

.500

11/01/30

592,327

190,000

(d) Union Park East Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 2

Series 2019A-2

.250

05/01/49

190,792

12,500

(d) Union Park East Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 3

Series 2021

.400

05/01/26

12,392

125,000

(d) Union Park East Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 3

Series 2021

.950

05/01/31

119,028

115,000

(d) Union Park East Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 3

Series 2021

.350

05/01/41

94,425

250,000

(d) Varrea South Community Development District, Plant

City, Florida, Capital Improvement Revenue Bonds, 2023

Assessment Area Series 2023

.250

05/01/30

255,135

1,075,000

(d) Varrea South Community Development District, Plant

City, Florida, Capital Improvement Revenue Bonds, 2023

Assessment Area Series 2023

.125

05/01/43

1,085,033

500,000

(d) V-Dana Community Development District, Lee County, Florida,

Special Assessment Bonds, Area 2 - 2025 Project, Series 2025

.450

05/01/32

508,997

500,000

(d) V-Dana Community Development District, Lee County, Florida,

Special Assessment Bonds, Area 2 - 2025 Project, Series 2025

.375

05/01/45

496,946

125,000

V-Dana Community Development District, Lee County,

Florida,Special Assessment Bonds, Area 1 - 2021 Project,

Series 2021

.600

05/01/26

124,153

685,000

V-Dana Community Development District, Lee County,

Florida,Special Assessment Bonds, Area 1 - 2021 Project,

Series 2021

.125

05/01/31

662,916

1,500,000

V-Dana Community Development District, Lee County,

Florida,Special Assessment Bonds, Area 1 - 2021 Project,

Series 2021

.625

05/01/41

1,305,353

200,000

Venetian Parc Community Development District, Miami-Dade

County, Florida, Special Assessment Bonds, Area One Project,

Series 2013

.000

11/01/27

205,327

900,000

(d) Venice, Florida, Retirement Community Revenue Improvement

Bonds, Village On The Isle Project, Fixed Rate Series 2024B-3

.250

01/01/30

903,000

550,000

(d) Venice, Florida, Retirement Community Revenue Improvement

Bonds, Village On The Isle Project, Mandatory Paydown Series

2024B-2

.500

01/01/30

551,827

55,000

(d) Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area 4 Veranda Oaks,

Refunding Series 2021

.500

05/01/26

54,539

30,000

(d) Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area 4 Veranda Oaks,

Refunding Series 2021

.500

05/01/26

29,751

290,000

(d) Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area 4 Veranda Oaks,

Refunding Series 2021

.100

05/01/31

277,606

150,000

(d) Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area 4 Veranda Oaks,

Refunding Series 2021

.100

05/01/31

143,734

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

620,000

(d) Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area 4 Veranda Oaks,

Refunding Series 2021

.600

%

05/01/41

$

524,491

365,000

(d) Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area 4 Veranda Oaks,

Refunding Series 2021

.600

05/01/41

310,541

195,000

Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area One-Gardens

East Project, Series 2018A

.500

11/01/29

198,831

300,000

Veranda Community Development District II, Florida, Special

Assessment Revenue Bonds, Assessment Area One-Gardens

East Project, Series 2018A

.500

11/01/29

305,923

360,000

Verano 2 Community Development District, Florida, Special

Assessment Revenue Bonds, District 2 Pod A Project, Series

2017

.250

11/01/28

363,872

285,000

Verano 2 Community Development District, Florida, Special

Assessment Revenue Bonds, District 2 Pod B Project, Series

2017

.250

11/01/28

288,080

200,000

Verano 2 Community Development District, Florida, Special

Assessment Revenue Bonds, District 2 Pod C Project, Series

2017

.500

11/01/28

202,806

285,000

Verano 2 Community Development District, Florida, Special

Assessment Revenue Bonds, District 2 Pod E Project, Series

2020

.250

05/01/31

275,497

85,000

Verano 3 Community Development District, Florida, Special

Assessment Bonds, Phase 1 Assessment Area, Series 2021

.375

05/01/26

84,136

350,000

Verano 3 Community Development District, Florida, Special

Assessment Bonds, Phase 1 Assessment Area, Series 2021

.000

05/01/31

331,618

1,000,000

Verano 3 Community Development District, Florida, Special

Assessment Bonds, Phase 1 Assessment Area, Series 2021

.375

05/01/41

799,485

185,000

Verano 3 Community Development District, Florida, Special

Assessment Bonds, Phase 2 Assessment Area, Series 2022

.875

11/01/29

190,756

215,000

Village Community Development District 13, Wildwood,

Florida, Special Assessment Revenue Bonds, Series 2021

.800

05/01/26

212,863

1,480,000

(d) Village Community Development District 15, Florida, Special

Assessment Revenue Bonds, Series 2023

.375

05/01/33

1,525,727

500,000

(d) Village Community Development District 15, Florida, Special

Assessment Revenue Bonds, Series 2024

.200

05/01/39

483,066

1,250,000

(d) Villages of Glen Creek Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 2, Series 2018A-2

.500

11/01/29

1,319,092

105,000

(d) Villages of Glen Creek Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 3, Refunding Series 2022

.700

05/01/27

102,879

205,000

(d) Villages of Glen Creek Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 3, Refunding Series 2022

.150

05/01/32

195,122

465,000

(d) Villages of Glen Creek Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 3, Refunding Series 2022

.450

05/01/42

378,835

145,000

(d) Villages of Glen Creek Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 4, Series 2022

.625

05/01/27

145,989

250,000

(d) Villages of Glen Creek Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 4, Series 2022

.875

05/01/32

258,696

750,000

(d) Villages of Glen Creek Community Development District,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 4, Series 2022

.125

05/01/42

754,694

200,000

(d) Villamar Community Development District, Winter Haven,

Florida, Special Assessment Revenue Bonds, Area 5 Project,

Series 2023

.875

05/01/30

204,866

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

880,000

(d) Villamar Community Development District, Winter Haven,

Florida, Special Assessment Revenue Bonds, Area 5 Project,

Series 2023

.625

%

05/01/43

$

903,978

290,000

(d) Villamar Community Development District, Winter Haven,

Florida, Special Assessment Revenue Bonds, Area 6 Project,

Series 2024

.625

05/01/31

296,968

670,000

(d) Villamar Community Development District, Winter Haven,

Florida, Special Assessment Revenue Bonds, Area 6 Project,

Series 2024

.500

05/01/44

679,823

120,000

Waterford Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area One, Series 2023

.500

05/01/30

122,796

465,000

Waterford Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area One, Series 2023

.375

05/01/43

474,254

170,000

(d) Waterford Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area Two, Series 2024

.375

05/01/31

172,102

570,000

(d) Waterford Community Development District, Hernando

County, Florida, Capital Improvement Revenue Bonds,

Assessment Area Two, Series 2024

.200

05/01/44

555,101

1,455,000

(d) Waterset Central Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Series 2018

.625

11/01/29

1,486,546

115,000

Waterset South Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Series 2022

.000

05/01/27

116,396

205,000

Waterset South Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Series 2022

.375

05/01/32

215,797

1,000,000

Waterset South Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Series 2022

.900

05/01/42

1,040,731

240,000

(d) Wellness Ridge Community Development District, Lake

County, Florida, Special Assessment Revenue Bonds, Area Two

Series 2024

.250

06/15/31

242,525

875,000

(d) Wellness Ridge Community Development District, Lake

County, Florida, Special Assessment Revenue Bonds, Area Two

Series 2024

.000

06/15/44

851,602

325,000

Wesbridge Community Development District, Pasco County,

Florida, Special Assessment Bonds, 2019 Project, Series 2019

.625

11/01/29

325,304

310,000

(d) West Hillcrest Community Development District, Pasco County,

Florida, Special Assessment Bonds, 2023 Project Series 2023

.500

06/15/30

317,706

900,000

(d) West Hillcrest Community Development District, Pasco County,

Florida, Special Assessment Bonds, 2023 Project Series 2023

.250

06/15/43

917,789

50,000

West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit Development 7 Villages F-1

& F-5, Series 2021

.500

05/01/26

49,442

355,000

West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit Development 7 Villages F-1

& F-5, Series 2021

.125

05/01/31

335,490

810,000

West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit Development 7 Villages F-1

& F-5, Series 2021

.500

05/01/41

649,326

215,000

West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit of Development 4, Series

2016

.250

11/01/26

215,745

210,000

West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit of Development 4, Series

2016

.625

11/01/31

211,922

110,000

(d) West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit of Development 7 Village B

Parcel, Series 2019

.250

05/01/29

111,446

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

465,000

West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit of Development 7 Villages

F-3 and G-1B Series 2023

.000

%

05/01/43

$

489,974

105,000

West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit of Development 8 Master

Infrastructure, Series 2021

.500

05/01/26

104,079

525,000

West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit of Development 8 Master

Infrastructure, Series 2021

.125

05/01/31

496,147

495,000

(d) West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit of Development 9 Series

2023

.625

05/01/30

507,196

1,495,000

(d) West Villages Improvement District, Florida, Special

Assessment Revenue Bonds, Unit of Development 9 Series

2023

.375

05/01/43

1,530,425

610,000

(d) Westside Community Development District, Florida, Special

Assessment Revenue Bonds, Refunding Series 2019

.750

05/01/29

612,908

85,000

Westside Haines City Community Development District,

Florida, Special Assessment Bonds, Area 1 Project, Series 2021

.500

05/01/26

84,342

500,000

Westside Haines City Community Development District,

Florida, Special Assessment Bonds, Area 1 Project, Series 2021

.000

05/01/31

478,569

1,500,000

Westside Haines City Community Development District,

Florida, Special Assessment Bonds, Area 1 Project, Series 2021

.250

05/01/41

1,193,192

695,000

(d) Westside Haines City Community Development District, Polk

County, Florida, Special Assessment Bonds, Area 2 Project,

Series 2024

.875

05/01/31

712,349

1,590,000

(d) Westside Haines City Community Development District, Polk

County, Florida, Special Assessment Bonds, Area 2 Project,

Series 2024

.750

05/01/44

1,608,733

305,000

(d) Westview North Community Development District, Miami-

Dade County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.000

06/15/29

313,043

250,000

(d) Westview North Community Development District, Miami-

Dade County, Florida, Special Assessment Bonds, 2022 Project,

Series 2022

.750

06/15/42

259,851

375,000

(d) Westview South Community Development District, Osceola

and Polk Counties, Florida, Special Assessment Bonds,

Assessment Area 1 Project Series 2023

.875

05/01/28

379,831

1,020,000

(d) Westview South Community Development District, Osceola

and Polk Counties, Florida, Special Assessment Bonds,

Assessment Area 1 Project Series 2023

.375

05/01/43

1,029,427

585,000

(d) Westview South Community Development District, Osceola

and Polk Counties, Florida, Special Assessment Revenue

Bonds, Assessment Area 1, Series 2025

.050

05/01/30

588,667

2,500,000

(d) Westview South Community Development District, Osceola

and Polk Counties, Florida, Special Assessment Revenue

Bonds, Assessment Area 1, Series 2025

.000

05/01/45

2,575,019

450,000

(d) Willow Hammock Community Development District, Manatee

County, Florida, Special Assessment Revenue Bonds, Series

2017

.000

11/01/28

451,324

205,000

Willow Walk Community Development District, Florida, Special

Assessment Revenue Bonds, North Parcel Area Project, Series

2017

.000

05/01/28

206,645

235,000

(d) Willowbrook Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area One

Project Series 2024

.950

05/01/31

239,473

675,000

(d) Willowbrook Community Development District, Florida,

Special Assessment Revenue Bonds, Assessment Area One

Project Series 2024

.625

05/01/44

673,452

420,000

Willows Community Development District, Florida, Special

Assessment Bonds, Series 2019

.370

05/01/29

427,581

60,000

Wind Meadows South Community Development District,

Bartow, Florida, Special Assessment Bonds, Assessment Area 1

Project, Series 2021

.400

05/01/26

59,422

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

410,000

Wind Meadows South Community Development District,

Bartow, Florida, Special Assessment Bonds, Assessment Area 1

Project, Series 2021

.950

%

05/01/31

$

386,667

945,000

Wind Meadows South Community Development District,

Bartow, Florida, Special Assessment Bonds, Assessment Area 1

Project, Series 2021

.350

05/01/41

764,369

195,000

(d) Wind Meadows South Community Development District,

Bartow, Florida, Special Assessment Bonds, Assessment Area 2

Project, Series 2023

.500

05/01/30

199,146

920,000

(d) Wind Meadows South Community Development District,

Bartow, Florida, Special Assessment Bonds, Assessment Area 2

Project, Series 2023

.375

05/01/43

932,526

150,000

Winding Cypress Community Development District, Collier

County, Florida, Special Assessment Bonds, Series 2019

.250

11/01/29

152,068

220,000

(d) Windsor at Westside Community Development District, Lake

County, Florida, Special Assessment Bonds, Area 1 Project,

Series 2024

.600

05/01/31

226,131

1,000,000

(d) Windsor at Westside Community Development District, Lake

County, Florida, Special Assessment Bonds, Area 1 Project,

Series 2024

.450

05/01/44

1,027,914

315,000

Windsor at Westside Community Development District,

Osceola County, Florida, Special Assessment Bonds, Area 2

Project, Series 2016

.125

11/01/27

318,894

205,000

Wiregrass Community Development District, Florida, Capital

Improvement Revenue Bonds, Series 2016

.375

05/01/26

205,578

200,000

Woodcreek Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 1, Series 2022

.200

05/01/32

210,712

400,000

Woodcreek Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 1, Series 2022

.700

05/01/42

414,882

225,000

(d) Woodcreek Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 2, Series 2025

.350

05/01/32

227,401

600,000

(d) Woodcreek Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Assessment

Area 2, Series 2025

.350

05/01/45

584,658

535,000

(d) Woodland Crossing Community Development District, Sumter

County, Florida, Special Assessment Bonds, Series 2025

.125

05/01/35

554,988

295,000

(d) Woodland Preserve Community Development District,

Florida, Manatee County, Special Assessment Revenue Bonds,

Assessment Area One Series 2025

.300

05/01/32

298,670

630,000

(d) Woodland Preserve Community Development District,

Florida, Manatee County, Special Assessment Revenue Bonds,

Assessment Area One Series 2025

.300

05/01/45

623,491

330,000

(d) Woodland Ranch Estates Community Development District,

Dundee, Florida, Special Assessment Bonds, Series 2025

.650

05/01/32

336,390

565,000

(d) Woodland Ranch Estates Community Development District,

Dundee, Florida, Special Assessment Bonds, Series 2025

.550

05/01/45

563,926

560,000

Wynnmere East Community Development District,

Hillsborough County, Florida, Special Assessment Revenue

Bonds, Series 2016

.000

05/01/29

575,368

340,000

(d) Yarbrough Lane Community Development District, Polk

County, Florida, Special Assessment Revenue Bonds, 2024

Project Series 2024

.750

05/01/31

344,852

1,000,000

(d) Yarbrough Lane Community Development District, Polk

County, Florida, Special Assessment Revenue Bonds, 2024

Project Series 2024

.350

05/01/44

984,386

50,000

(d) Zephyr Lakes Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Aessessment

Area 2, Series 2021

.500

05/01/26

49,448

255,000

(d) Zephyr Lakes Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Aessessment

Area 2, Series 2021

.000

05/01/31

240,753

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

615,000

(d) Zephyr Lakes Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Aessessment

Area 2, Series 2021

.375

%

05/01/41

$

497,933

410,000

(d) Zephyr Lakes Community Development District, Pasco County,

Florida, Capital Improvement Revenue Bonds, Series 2019

.750

11/01/29

419,988

TOTAL FLORIDA

856,093,141

GEORGIA - 2.7%

8,475,000

(d) Atlanta Development Authority, Georgia, Revenue Bonds,

Westside Gulch Area Project, Senior Series 2024A-1

.000

04/01/34

8,594,136

2,950,000

(d) Atlanta Development Authority, Georgia, Revenue Bonds,

Westside Gulch Area Project, Senior Series 2024A-2

.500

04/01/39

2,997,273

2,455,000

(g) Atlanta Development Authority, Georgia, Senior Health Care

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.000

01/01/25

1,399,350

9,250,000

(g) Atlanta Development Authority, Georgia, Senior Health Care

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.500

01/01/29

5,272,500

2,540,000

(g) Atlanta Development Authority, Georgia, Senior Health Care

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.750

01/01/35

1,447,800

1,670,000

(g) Atlanta Development Authority, Georgia, Senior Health Care

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.000

01/01/40

951,900

500,000

Cobb County Development Authority, Georgia, Charter School

Revenue Bonds, Northwest Classical Academy, Inc. Project,

Series 2023A

.700

06/15/38

502,235

500,000

Cobb County Development Authority, Georgia, Charter School

Revenue Bonds, Northwest Classical Academy, Inc. Project,

Series 2023A

.000

06/15/43

499,013

4,050,000

Fayette County Development Authority, Georgia, Revenue

Bonds, United States Soccer Federation, Inc. Project Series

2024

.250

10/01/49

4,179,357

295,000

(g) Gainesville and Hall County Development Authority, Georgia,

Educational Facilities Revenue Bonds, Riverside Military

Academy, Refunding Series 2017

.000

03/01/27

147,500

1,000,000

Macon-Bibb County Urban Development Authority, Georgia,

Multifamily Housing Revenue Bonds, Dempsey Apartments

Project, Series 2018A

.200

12/01/53

881,399

165,000

(d) Macon-Bibb County Urban Development Authority, Georgia,

Revenue Bonds, Academy for Classical Education, Series 2017

.000

06/15/27

166,788

85,350,000

(d) Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022C, (Mandatory Put 11/01/27)

.000

08/01/52

85,887,183

25,000,000

(e),(f)

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2023E-1, (Mandatory Put 6/01/31) (SOFR\*0.67%

+ 1.700%), (UB)

.621

12/01/53

25,240,782

15,935,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2024C, (Mandatory Put 12/01/31)

.000

12/01/54

17,275,446

3,000,000

Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2024D, (Mandatory Put 4/01/31)

.000

04/01/54

3,248,736

2,500,000

Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &

4 Project J Bonds, Series 2019A

.000

01/01/49

2,496,869

160,000

Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &

4 Project P Bonds, Series 2021A

.000

01/01/46

144,359

425,000

Municipal Electric Authority of Georgia, Plant Vogtle Units 3 &

4 Project P Bonds, Series 2021A

.000

01/01/51

370,431

TOTAL GEORGIA

161,703,057

GUAM - 0.1%

4,125,000

Guam Power Authority, Revenue Bonds, Refunding Series

2017A

.000

10/01/40

4,163,310

TOTAL GUAM

4,163,310

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HAWAII - 0.3%

$

1,235,000

(d) Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaii Pacific University Project, Refunding

Series 2024

.000

%

07/01/34

$

1,252,486

1,000,000

(d) Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaii Pacific University Project, Refunding

Series 2024

.000

07/01/39

961,851

13,485,000

(d) Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaii Pacific University, Series 2018

.000

07/01/28

13,765,949

TOTAL HAWAII

15,980,286

IDAHO - 0.4%

1,990,000

(d) Idaho Falls Auditorium District, Idaho, Certifications of

Participation, Annual Appropriation Series 2021

.250

05/15/51

1,871,856

825,000

Idaho Health Facilities Authority, Revenue Bonds, Kootenai

Health Project, Series 2014

.375

07/01/34

825,407

1,265,000

Idaho Health Facilities Authority, Revenue Bonds, Madison

Memorial Hospital Project, Refunding Series 2016

.000

09/01/30

1,273,929

1,000,000

Idaho Health Facilities Authority, Revenue Bonds, Madison

Memorial Hospital Project, Refunding Series 2016

.000

09/01/37

1,000,236

1,000,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Doral Academy of Idaho, Series 2021A

.000

07/15/41

850,548

2,500,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Future Public School Project, Series 2022A

.000

05/01/52

1,824,580

560,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Gem Prep Meridian South Charter School

Project, Series 2021

.000

05/01/31

540,384

2,565,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Gem Prep Meridian South Charter School

Project, Series 2021

.000

05/01/41

2,070,773

13,420,000

(d) Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Pinecrest Academy of Idaho Project, Series

2022A

.000

07/15/29

13,536,632

440,000

Idaho Housing and Finance Association, Nonprofit Facilities

Revenue Bonds, Pinecrest Academy of Idaho Project, Series

2022B

.500

07/15/29

441,859

TOTAL IDAHO

24,236,204

ILLINOIS - 3.4%

550,000

Aurora, Kane, DuPage, Kendall and Will Counties, Illinois, Tax

Increment Revenue Bonds, East River Area TIF 6, Refunding

Series 2018A

.000

12/30/27

555,435

910,000

Belleville, Illinois, Tax Increment Revenue Bonds, Frank Scott

Parkway Redevelopment Project, Series 2007A

.700

05/01/36

910,085

1,010,000

(d) Berwyn, Cook County, Illinois, Tax Increment Revenue Bonds,

South Berwyn Corridor Project, Series 2020

.000

12/01/28

989,795

3,920,000

(d) Berwyn, Cook County, Illinois, Tax Increment Revenue Bonds,

South Berwyn Corridor Project, Series 2020

.500

12/01/33

3,636,480

176,189

(g) Bolingbrook, Illinois, Sales Tax Revenue Bonds, Series 2005

.250

01/01/26

176,188

1,645,000

Bolingbrook, Illinois, Special Tax Bonds, Special Service Area 1,

Refunding Series 2019

.000

03/01/33

1,671,757

1,000,000

Bolingbrook, Illinois, Special Tax Bonds, Special Service Area 1,

Refunding Series 2019

.250

03/01/41

1,004,387

4,185,000

Central Illinois Economic Development Authority, Illinois,

Multifamily Housing Revenue Bonds, Huntington Ridge

Apartments Project, Series 2014

.000

08/01/30

4,141,499

19,265,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2016

.750

04/01/33

19,832,081

15,835,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2016

.750

04/01/34

16,272,166

2,985,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2016

.750

04/01/35

3,061,699

1,500,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2016

.000

04/01/46

1,519,892

300,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2017

.000

04/01/33

304,963

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

1,370,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2017

.000

%

04/01/34

$

1,390,186

1,240,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2018

.000

04/01/33

1,273,553

1,535,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2018

.000

04/01/34

1,571,969

1,610,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2018

.000

04/01/35

1,643,770

1,270,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2018

.000

04/01/36

1,292,348

650,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2017D

.000

12/01/31

659,906

7,155,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Series 2023A

.875

12/01/47

7,201,518

3,120,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Series 2023A

.000

12/01/49

3,181,410

2,971,003

(d) Chicago, Illinois, Certificates of Participation, Tax Increment

Allocation Revenue Note, North Pullman Chicago

Neighborhood Initiative, Inc.Redevelopement Project-Whole

Foods Warehouse & Distribution Facility, Series 2016A

.000

03/15/34

2,972,748

3,300,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Refunding Senior Lien Series 2018A

.000

01/01/48

3,305,207

8,030,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2016D

.000

01/01/52

7,980,462

10,000,000

City of Chicago, Illinois, Chicago O'Hare International Airport,

Senior Special Facilities Revenue Bonds, TRIPs Obliated Group,

Series 2018

.000

07/01/48

9,833,389

1,730,908

Gilberts Village, Kane County, Illinois, Tax Increment Revenue

Note, Prairie Buisness Park-Industrial Property, Series 2018A

.000

11/15/34

1,700,588

1,390,000

Governors State University Board of Trustes, Illinois, Certificates

of Participation, Capital Improvement Projects, Series 2018 -

BAM Insured

.000

07/01/28

1,445,809

1,450,000

(d) Illinois Finance Authority, Charter School Revenue Bonds, Art in

Motion AIM Project, Series 2021A

.000

07/01/31

1,296,602

4,470,000

(d) Illinois Finance Authority, Charter School Revenue Bonds, Art in

Motion AIM Project, Series 2021A

.000

07/01/41

3,532,768

175,000

(d) Illinois Finance Authority, Charter School Revenue Bonds,

Intrinsic Charter Schools Belmont School Project, Series 2015A

.250

12/01/25

175,107

1,815,000

(d) Illinois Finance Authority, Charter School Revenue Bonds,

Intrinsic Charter Schools Belmont School Project, Series 2015A

.500

12/01/30

1,818,093

4,670,000

Illinois Finance Authority, Revenue Bonds, Admiral at the Lake

Project, Refunding Series 2017

.000

05/15/33

4,381,501

1,910,000

Illinois Finance Authority, Revenue Bonds, Admiral at the Lake

Project, Refunding Series 2017

.250

05/15/54

1,415,448

750,000

Illinois Finance Authority, Revenue Bonds, Admiral at the Lake

Project, Refunding Series 2017

.500

05/15/54

578,588

615,000

Illinois Finance Authority, Revenue Bonds, Advocate Health

Care Network, Refunding Series 2015

.125

05/01/45

566,779

221,263

(g) Illinois Finance Authority, Revenue Bonds, Christian Homes Inc.

Obligated Group, Refunding Series 2016

.000

05/15/26

11,063

409,001

(g) Illinois Finance Authority, Revenue Bonds, Christian Homes Inc.

Obligated Group, Refunding Series 2016

.000

05/15/40

20,450

360,000

(d) Illinois Finance Authority, Revenue Bonds, Goodman Theatre

Project, Refunding Series 2025A

.125

10/01/35

368,632

1,390,000

(d) Illinois Finance Authority, Revenue Bonds, Goodman Theatre

Project, Refunding Series 2025A

.000

10/01/45

1,406,928

6,400,000

(g) Illinois Finance Authority, Revenue Bonds, Lutheran Home and

Services, Series 2019A

.000

11/01/49

4,432,000

14,750,000

(d) Illinois Finance Authority, Revenue Bonds, mHUB Chicago

Project Series 2023

.420

10/01/38

14,946,067

5,250,000

Illinois Finance Authority, Revenue Bonds, OSF Healthcare

System, Series 2015A

.000

11/15/45

5,251,008

2,100,000

(d) Illinois Finance Authority, Revenue Bonds, Roosevelt University,

Series 2018B

.000

04/01/38

2,116,148

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

2,400,000

(d) Illinois Finance Authority, Revenue Bonds, Roosevelt University,

Series 2019A

.000

%

04/01/38

$

2,418,455

1,000,000

(d) Illinois Finance Authority, Revenue Bonds, Roosevelt University,

Series 2019A

.125

04/01/49

970,763

5,000,000

(d) Illinois Finance Authority, Solid Waste Revenue Bonds, LRS

Holdings LLC Project, Green Bond Series 2023A, (Mandatory

Put 9/03/30)

.250

09/01/52

5,378,846

6,500,000

(d) Illinois Finance Authority, Solid Waste Revenue Bonds, LRS

Holdings LLC Project, Series 2023B, (Mandatory Put 9/01/33)

.375

09/01/42

7,216,130

6,920,000

(d) Illinois Finance Authority, Surface Freight Transfer Facilities

Revenue Bonds, CenterPointJoliet Terminal Railroad Project,

Series 2020, (AMT), (Mandatory Put 12/31/34)

.125

12/01/50

6,865,371

105,000

Illinois State, General Obligation Bonds, June Series 2016

.000

06/01/36

104,582

8,000,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2014C

.000

01/01/36

8,006,084

10,000,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2014C

.000

01/01/39

10,002,741

6,000,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2015B

.000

01/01/36

6,020,752

7,470,000

Illinois Toll Highway Authority, Toll Highway Revenue Bonds,

Senior Lien Series 2015B

.000

01/01/40

7,485,677

320,000

Morton Grove, Illinois, Tax Increment Revenue Bonds, Sawmill

Station Redevelopment Project, Senior Lien Series 2019

.250

01/01/29

320,011

408,107

(d) North Pullman Chicago Neighborhood Initiatives, Inc., Illinois,

Certificates of Participation, Gotham Greens Greenhouse

Facility, Redevelopment Project, Series 2018A

.000

03/15/34

408,575

1,215,000

Palos Heights, Illinois, Revenue Bonds, Trinity Christian College

Association, Taxable Series 2024B

.500

01/01/32

1,185,092

320,000

South Barrington, Cook County, Illinois, Special Tax Bonds,

Special Service Area 3, Refunding Series 2019A

.000

12/01/25

319,869

330,000

South Barrington, Cook County, Illinois, Special Tax Bonds,

Special Service Area 3, Refunding Series 2019A

.000

12/01/26

330,022

345,000

South Barrington, Cook County, Illinois, Special Tax Bonds,

Special Service Area 3, Refunding Series 2019A

.000

12/01/27

345,273

355,000

South Barrington, Cook County, Illinois, Special Tax Bonds,

Special Service Area 3, Refunding Series 2019A

.000

12/01/28

354,617

370,000

South Barrington, Cook County, Illinois, Special Tax Bonds,

Special Service Area 3, Refunding Series 2019A

.000

12/01/29

370,188

385,000

South Barrington, Cook County, Illinois, Special Tax Bonds,

Special Service Area 3, Refunding Series 2019A

.000

12/01/30

385,688

400,000

South Barrington, Cook County, Illinois, Special Tax Bonds,

Special Service Area 3, Refunding Series 2019A

.000

12/01/31

398,070

420,000

South Barrington, Cook County, Illinois, Special Tax Bonds,

Special Service Area 3, Refunding Series 2019A

.000

12/01/32

416,287

435,000

South Barrington, Cook County, Illinois, Special Tax Bonds,

Special Service Area 3, Refunding Series 2019A

.000

12/01/33

423,128

450,000

South Barrington, Cook County, Illinois, Special Tax Bonds,

Special Service Area 3, Refunding Series 2019A

.000

12/01/34

434,886

135,000

Southwestern Illinois Development Authority, Environmental

Improvement Revenue Bonds, US Steel Corporation Project,

Series 2012, (AMT)

.750

08/01/42

135,038

1,650,000

Wonder Lake Village, McHenry County, Illinois, Special Tax

Bonds, Special Service Area 1 Woods Creek, Refunding Series

2015

.500

03/01/34

1,649,929

605,000

Wonder Lake Village, McHenry County, Illinois, Special Tax

Bonds, Special Service Area 5 Wooded Shores, Refunding

Series 2015

.250

03/01/29

598,120

280,000

Wonder Lake Village, McHenry County, Illinois, Special Tax

Bonds, Special Service Area 7 Deep Spring Woods, Refunding

Series 2015

.250

03/01/29

280,008

708,143

(g) Yorkville United City, Kendall County, Illinois, Sales Tax Revenue

Bonds, Kendall Marketplace Project, Series 2007

.000

01/01/26

708,143

TOTAL ILLINOIS

205,378,817

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

INDIANA - 0.9%

$

745,000

(d) Fort Wayne, Indiana Multifamily Housing Revenue Bonds, Silver

Birch at Cook Road Project, Series 2018

.300

%

01/01/32

$

732,337

125,000

Fort Wayne, Indiana Multifamily Housing Revenue Bonds, Silver

Birch of Fort Wayne Project, Series 2017

.125

01/01/32

121,097

1,665,000

(d) Gary Local Public Improvement Bond Bank, Indiana, Economic

Development Revenue Bonds, Drexel Foundation for

Educational Excellence Project, Refunding Series 2020A

.125

06/01/32

1,647,746

910,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, Avondale Meadows Academy Peoject, Series 2017

.000

07/01/27

907,993

165,000

(d) Indiana Finance Authority, Educational Facilities Revenue

Bonds, Circle City Preparatory Inc. Project, Series 2021A

.000

12/01/30

167,316

255,000

(d) Indiana Finance Authority, Educational Facilities Revenue

Bonds, Circle City Preparatory Inc. Project, Series 2021A

.000

12/01/40

234,472

150,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, United States Steel Corporation Project, Series

2012, (AMT)

.750

08/01/42

150,041

2,000,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, United States Steel Corporation Project, Series

2020, (AMT)

.750

05/01/39

2,223,792

2,330,000

Indiana Finance Authority, Health Facilities Revenue Bonds,

Good Samaritan Hospital Project, Series 2016A

.500

04/01/33

2,345,991

1,275,000

Indiana Finance Authority, Health Facilities Revenue Bonds,

Good Samaritan Hospital Project, Series 2016A

.500

04/01/34

1,282,970

2,500,000

Indiana Finance Authority, Health Facilities Revenue Bonds,

Good Samaritan Hospital Project, Series 2016A

.000

04/01/37

2,505,213

6,915,000

Indiana Finance Authority, Health System Revenue Bonds,

Franciscan Alliance, Inc Obligated Group, Series 2016A

.000

11/01/51

6,916,034

11,005,000

Indiana Housing and Community Development Authority,

Multifamily Housing Revenue Bonds, Vita of New Whiteland

Project, Series 2022

.750

01/01/43

10,391,818

2,500,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.000

03/01/33

2,672,496

4,000,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.500

03/01/38

4,277,840

1,380,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Subordinate Series

2023F-1

.750

03/01/67

1,517,287

1,840,000

Lafayette Redevelopment District, Indiana, Revenue Bonds,

Series 2024B

.000

02/15/27

1,894,831

100,000

Merrillville, Indiana, Economic Development Revenue Bonds,

Belvedere Housing Project, Series 2016

.050

04/01/26

99,653

5,015,000

Plainfield, Indiana, Multifamily Housing Revenue Bonds,

Glasswater Creek of Plainfield Project, Series 2018

.375

09/01/38

4,957,323

6,375,000

Richmond Hospital Authority, Indiana, Revenue Bonds, Reid

Hospital Project, Refunding Series 2015A

.000

01/01/35

6,376,992

155,000

Terre Haute, Indiana, Multifamily Housing Revenue Bonds,

Silver Birch of Terre Haute Project, Series 2017

.100

01/01/32

152,189

2,280,000

Terre Haute, Indiana, Multifamily Housing Revenue Bonds,

Silver Birch of Terre Haute Project, Series 2017

.350

01/01/38

2,195,151

TOTAL INDIANA

53,770,582

IOWA - 0.4%

750,000

Iowa Finance Authority Senior Living Facilities Revenue Bonds,

Presbyterian Homes Mill Pond Project Project, Series 2025

.500

10/01/35

749,168

1,000,000

Iowa Finance Authority Senior Living Facilities Revenue Bonds,

Presbyterian Homes Mill Pond Project Project, Series 2025

.500

10/01/45

999,473

12,000,000

Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Alcoa Inc. Project, Series 2012

.750

08/01/42

11,882,084

7,000,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2016A

.000

05/15/47

6,647,896

2,100,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.000

05/15/39

2,138,007

TOTAL IOWA

22,416,628

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

KANSAS - 0.5%

$

1,000,000

(d) Garden City, Kansas, Sales Tax Special Obligation Revenue

Bonds, Sports of the World Star Bond Project Phase II, Series

2025

.375

%

06/01/39

$

1,001,104

375,000

Hutchinson, Kansas, Hospital Facilities Revenue Bonds,

Hutchinson Regional Medical Center, Inc., Series 2016

.000

12/01/27

375,987

400,000

Hutchinson, Kansas, Hospital Facilities Revenue Bonds,

Hutchinson Regional Medical Center, Inc., Series 2016

.000

12/01/28

400,578

750,000

Kansas Development Finance Authority Revenue Bonds,

Village Shalom Project, Series 2018A

.250

11/15/33

694,629

1,790,000

Kansas Development Finance Authority Revenue Bonds,

Village Shalom Project, Series 2018A

.500

11/15/38

1,559,921

1,100,000

Overland Park, Kansas, Sales Tax Revenue Bonds, Prairiefire

Community Improvement District No. 1 Project, Series 2012B

.250

12/15/29

506,000

3,190,877

(g) Overland Park, Kansas, Sales Tax Special Obligation Revenue

Bonds, Prairiefire at Lionsgate Project, Series 2012

.375

01/01/26

2,967,516

7,250,000

(g) Overland Park, Kansas, Sales Tax Special Obligation Revenue

Bonds, Prairiefire at Lionsgate Project, Series 2012

.250

12/15/29

3,625,000

2,145,000

(g) Overland Park, Kansas, Sales Tax Special Obligation Revenue

Bonds, Prairiefire at Lionsgate Project, Series 2012

.000

12/15/32

622,050

1,730,000

Wichita, Kansas, Health Care Facilities Revenue Bonds,

Presbyterian Manors, Series 2018I

.000

05/15/47

1,472,324

895,000

Wichita, Kansas, Health Care Facilities Revenue Bonds,

Presbyterian Manors, Series 2019III

.000

05/15/50

741,826

3,540,000

Wichita, Kansas, Health Care Facilities Revenue Bonds,

Presbyterian Manors, Series 2024VIII

.250

05/15/39

3,465,301

575,000

Wyandotte County/Kansas City Unified Government, Kansas,

Community Improvement District Sales Tax Revenue Bonds,

Legends Appartments Garage & West Lawn Project, Series

2018

.500

06/01/40

562,424

13,925,000

(d) Wyandotte County-Kansas City Unified Government, Kansas,

Sales Tax Special Obligation Bonds, Village East Project Areas

2B 3 and 5, Series 2022

.750

09/01/39

14,364,459

TOTAL KANSAS

32,359,119

KENTUCKY - 1.3%

395,000

Christian County, Kentucky, Hospital Revenue Bonds, Jennie

Stuart Medical Center, Series 2016

.000

02/01/26

396,997

5,000,000

Kentucky Economic Development Finance Authority, Hospital

Revenue Bonds, Owensboro Health, Refunding Series 2017A

.250

06/01/41

5,031,968

290,000

Kentucky Economic Development Finance Authority, Kentucky,

Healthcare Facilities Revenue Bonds, Rosedale Green Project,

Refunding Series 2015

.000

11/15/25

289,605

1,850,000

Kentucky Economic Development Finance Authority, Louisville

Arena Project Revenue Bonds, Louisville Arena Authority, Inc.,

Series 2017A - AGM Insured

.000

12/01/45

1,864,731

1,570,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, Next Generation Kentucky Information Highway Project,

Senior Series 2015A

.000

07/01/40

1,570,432

7,000,000

Kentucky Municipal Power Agency, Power System Revenue

Bonds, Prairie State Project, Series 2015A - NPFG Insured

.000

09/01/42

7,003,257

10,000,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2024A-1, (Mandatory Put 2/01/32)

.250

04/01/54

10,963,782

3,235,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2024B, (Mandatory Put 8/01/32)

.000

01/01/55

3,507,017

10,000,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Refunding Series 2025A, (Mandatory Put 12/01/29)

.250

06/01/55

10,728,734

6,570,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2022A-1, (Mandatory Put 8/01/30)

.000

08/01/52

6,722,853

19,795,000

Public Energy Authority of Kentucky, Gas Supply Revenue

Bonds, Series 2024A-1, (Mandatory Put 7/01/30)

.000

05/01/55

20,988,789

6,430,000

Trimble County, Kentucky, Pollution Control Revenue Bonds,

Louisville Gas and Electric Company Project, Series 2016A,

(AMT), (Mandatory Put 9/01/27)

.300

09/01/44

6,010,603

TOTAL KENTUCKY

75,078,768

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA - 1.4%

$

2,250,000

Beauregard Parish, Louisiana, Revenue Bonds, Boise Cascade

Corporation Project, Series 2002

.800

%

02/01/27

$

2,255,019

1,330,000

(d) Jefferson Parish Economic Development and Port District,

Louisiana, Kenner Discovery Health Sciences Academy Project,

Series 2018A

.800

06/15/29

1,339,761

3,700,000

(d) Jefferson Parish Economic Development and Port District,

Louisiana, Kenner Discovery Health Sciences Academy Project,

Series 2018A

.500

06/15/38

3,701,926

2,850,000

(d) Jefferson Parish Economic Development and Port District,

Louisiana, Kenner Discovery Health Sciences Academy Project,

Series 2018A

.625

06/15/48

2,736,280

115,000

(d) Juban Trails Community Development District, Livingston

Parish, Louisiana, Special Assessment Revenue Bonds, Series

2022

.375

06/01/27

113,058

250,000

(d) Juban Trails Community Development District, Livingston

Parish, Louisiana, Special Assessment Revenue Bonds, Series

2022

.750

06/01/32

235,158

130,000

Lakeshore Villages Master Community Development District,

Louisiana, Special Assessment Revenue Bonds, Series 2021

.375

06/01/26

128,338

695,000

Lakeshore Villages Master Community Development District,

Louisiana, Special Assessment Revenue Bonds, Series 2021

.875

06/01/31

639,939

125,000

Lakeshore Villages Master Community Development District,

Louisiana, Special Assessment Revenue Bonds, Series 2022

.450

06/01/27

125,542

250,000

Lakeshore Villages Master Community Development District,

Louisiana, Special Assessment Revenue Bonds, Series 2022

.000

06/01/32

256,479

750,000

Lakeshore Villages Master Community Development District,

Louisiana, Special Assessment Revenue Bonds, Series 2022

.375

06/01/42

750,730

175,000

(d) Lakeshore Villages Master Community Development District,

St. Tammany Parish, Louisiana, Special Assessment Revenue

Bonds, Series 2025

.000

06/01/33

180,250

250,000

(d) Lakeshore Villages Master Community Development District,

St. Tammany Parish, Louisiana, Special Assessment Revenue

Bonds, Series 2025

.875

06/01/45

257,514

1,545,000

(d) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Cameron Parish GOMESA Project, Green Series 2018

.650

11/01/37

1,608,550

1,555,000

(d) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Jefferson Parish GOMESA Project, Series 2019

.000

11/01/44

1,369,832

1,010,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Ragin' Cajun Facilities Inc.- Student Housing & Parking

Project, Series 2018 - AGM Insured

.000

10/01/43

1,019,066

1,235,000

(d) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Saint Martin Parish GOMESA Project, Series 2019

.400

11/01/44

1,162,889

295,000

(d) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Terrebonne Parish GOMESA Project, Series 2018

.375

11/01/38

302,719

2,000,000

Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Womans Hospital Foundation Project, Refunding Series

2017A

.000

10/01/41

2,014,284

900,000

(d) Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds,

Christwood Project, Refunding Series 2024

.000

11/15/37

913,901

450,000

(d) Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds,

Christwood Project, Refunding Series 2024

.000

11/15/44

421,283

1,000,000

(d) Louisiana Local Government Environmental Facilities and

Community Development Authority, Revenue Bonds, Westside

Habilitation Center Project, Refunding Series 2017A

.750

02/01/32

996,992

480,000

(d) Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Lake Charles College Prep Project, Series 2019A

.000

06/01/29

486,790

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA

(continued)

$

300,000

(d) Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Lincoln Preparatory School Project, Series 2021A

.000

%

06/01/31

$

291,162

1,805,000

(d) Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Lincoln Preparatory School Project, Series 2021A

.000

06/01/41

1,494,465

1,000,000

(d) Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Lincoln Preparatory School Project, Series 2021A

.250

06/01/51

768,043

530,000

(d) Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Young Audiences Charter School, Series 2019A

.000

04/01/30

533,621

965,000

(d) Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Young Audiences Charter School, Series 2019A

.000

04/01/57

800,543

600,000

(d) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

BBR Schools - Materra Campus Project, Series 2021A

.000

06/01/31

579,503

1,350,000

(d) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

BBR Schools - Materra Campus Project, Series 2021A

.000

06/01/41

1,098,257

500,000

(d) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Jefferson Rise Charter School Project, Series 2022A

.000

06/01/37

509,742

1,400,000

(d) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Lake Charles Charter Academy Foundation Project, Refunding

Series 2024A

.000

12/15/34

1,426,725

2,335,000

(d) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Lake Charles Charter Academy Foundation Project, Refunding

Series 2024A

.000

12/15/43

2,200,796

435,000

(d) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Lincoln Preparatory School Project, Series 2022A

.125

06/01/37

425,149

185,000

(d) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Lincoln Preparatory School Project, Series 2022A

.375

06/01/52

165,628

7,500,000

Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Loyola University of New Orleans Project, Refunding Series

2023A

.250

10/01/53

7,399,378

500,000

(g) Louisiana Public Facilities Authority, Revenue Bonds,

Archdiocese of New Orleans, Refunding Series 2017

.000

07/01/27

167,500

1,745,000

(g) Louisiana Public Facilities Authority, Revenue Bonds,

Archdiocese of New Orleans, Refunding Series 2017

.000

07/01/28

584,575

1,680,000

(g) Louisiana Public Facilities Authority, Revenue Bonds,

Archdiocese of New Orleans, Refunding Series 2017

.000

07/01/29

562,800

1,695,000

(g) Louisiana Public Facilities Authority, Revenue Bonds,

Archdiocese of New Orleans, Refunding Series 2017

.000

07/01/30

567,825

1,000,000

(g) Louisiana Public Facilities Authority, Revenue Bonds,

Archdiocese of New Orleans, Refunding Series 2017

.000

07/01/32

335,000

750,000

(g) Louisiana Public Facilities Authority, Revenue Bonds,

Archdiocese of New Orleans, Refunding Series 2017

.000

07/01/33

251,250

1,500,000

(g) Louisiana Public Facilities Authority, Revenue Bonds,

Archdiocese of New Orleans, Refunding Series 2017

.000

07/01/37

502,500

3,050,000

Louisiana Public Facilities Authority, Revenue Bonds, Cleco

Power LLC Project, Series 2008

.250

12/01/38

3,008,036

4,000,000

(d),(g)

Louisiana Public Facilities Authority, Solid Waste Disposal

Facility Revenue Bonds, Lousiana Pellets Inc Project, Series

2015, (AMT)

.000

07/01/26

2,000,000

(d) Louisiana Public Facilities Authority, Solid Waste Disposal

Revenue Bonds, Waste Pro USA Inc Project Series 2023, (AMT),

(Mandatory Put 10/01/28)

.750

10/01/53

2,117,720

500,000

Louisiana Public Facilities Authority, Solid Waste Disposal

Revenue Bonds, Waste Pro USA Inc Project Series 2023R-2,

(AMT), (Mandatory Put 10/01/28)

.500

10/01/53

526,224

980,000

New Orleans Aviation Board, Louisiana, General Airport

Revenue Bonds, North Terminal Project, Series 2017B, (AMT)

.000

01/01/27

1,004,896

10,345,000

New Orleans Aviation Board, Louisiana, General Airport

Revenue Bonds, North Terminal Project, Series 2017B, (AMT)

.000

01/01/48

10,297,056

3,300,000

New Orleans Aviation Board, Louisiana, Special Facility

Revenue Bonds, Parking Facilities Corporation Consolidated

Garage System, Series 2018A

.000

10/01/48

3,333,436

1,600,000

(d) Plaquemines Port, Louisiana, Harbor and Terminal District

Facilities Revenue Bonds NOLA Terminal LLC Project Dock and

Wharf Series 2024A

.000

12/01/44

1,373,334

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LOUISIANA

(continued)

$

3,990,000

(d) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2008, (Mandatory Put 6/01/30)

.100

%

06/01/38

$

4,316,895

4,190,000

(d) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2010A

.350

10/01/40

4,551,388

1,840,000

(d) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2010B, (Mandatory Put 6/01/30)

.100

12/01/40

1,991,927

2,075,000

(i) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2011, (Mandatory Put 6/01/30)

.000

08/01/41

2,081,409

3,680,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017B-2,

(Mandatory Put 7/01/26)

.375

06/01/37

3,666,984

930,000

Saint Tammany Parish Hospital Service District 2, Louisiana,

General Obligation Bonds, Series 2025 - BAM Insured

.000

03/01/39

1,005,158

1,950,000

Saint Tammany Parish Hospital Service District 2, Louisiana,

General Obligation Bonds, Series 2025 - BAM Insured

.000

03/01/40

2,081,375

TOTAL LOUISIANA

85,036,640

MAINE - 0.3%

1,160,000

(d) Maine Finance Authority, Solid Waste Disposal Revenue

Bonds, Casella Waste Systems, Inc. Project, Series 2024, (AMT),

(Mandatory Put 6/01/35)

.625

12/01/47

1,143,266

3,000,000

(d) Maine Finance Authority, Solid Waste Disposal Revenue Bonds,

Casella Waste Systems, Inc. Project, Term Rate Series 2015-R3,

(AMT)

.000

08/01/35

3,052,170

4,500,000

Maine Health and Higher Educational Facilities Authority

Revenue Bonds, MaineHealth Issue, Series 2018A

.000

07/01/43

4,574,299

11,050,000

Rumford, Maine, Solid Waste Disposal Revenue Bonds, Boise

Cascade Corporation Project, Series 2001, (AMT)

.875

10/01/26

11,074,699

TOTAL MAINE

19,844,434

MARYLAND - 0.4%

2,210,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/31

2,250,354

1,000,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/32

1,015,956

1,500,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/33

1,520,385

2,360,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/35

2,380,929

500,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/36

503,295

385,000

Baltimore, Maryland, Special Obligation Bonds, Consolidated

Tax Increment Financing, Series 2015

.000

06/15/26

385,403

345,000

Baltimore, Maryland, Special Obligation Bonds, Consolidated

Tax Increment Financing, Series 2015

.000

06/15/27

345,376

875,000

(d) Baltimore, Maryland, Special Obligation Bonds, Harbor Point

Project, Refunding Series 2022

.875

06/01/42

876,327

435,000

(d) Howard County, Maryland, Special Obligation Bonds,

Downtown Columbia Project, Series 2017A

.000

02/15/28

435,659

2,900,000

Hyattsville, Maryland, Special Obligation Bonds, University

Town Center Project, Series 2016

.000

07/01/34

2,900,514

1,200,000

(d) Maryland Economic Development Corporation, Port Facilities

Revenue Bonds, Core Natural Resources Inc. Project, Refunding

Series 2025, (Mandatory Put 3/27/35)

.000

07/01/48

1,239,664

3,360,000

(g) Maryland Economic Development Corporation, Revenue

Bonds, Chesapeake Bay Hyatt Conference Center, Series

2006A

.000

12/01/25

2,251,200

6,895,000

(g) Maryland Economic Development Corporation, Revenue

Bonds, Chesapeake Bay Hyatt Conference Center, Series

2006A

.000

12/01/31

4,619,650

1,000,000

(g) Maryland Economic Development Corporation, Revenue

Bonds, Chesapeake Bay Hyatt Conference Center, Series

2006B

.250

12/01/31

670,000

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MARYLAND

(continued)

$

270,000

Maryland Economic Development Corporation, Senior Student

Housing Revenue Bonds, Towson University Project, Refunding

Series 2017

.000

%

07/01/27

$

277,113

190,000

Maryland Economic Development Corporation, Senior Student

Housing Revenue Bonds, Towson University Project, Refunding

Series 2017

.000

07/01/29

194,851

325,000

Maryland Economic Development Corporation, Senior Student

Housing Revenue Bonds, Towson University Project, Refunding

Series 2017

.000

07/01/30

333,026

375,000

Maryland Economic Development Corporation, Senior Student

Housing Revenue Bonds, Towson University Project, Refunding

Series 2017

.000

07/01/31

383,473

530,000

Maryland Economic Development Corporation, Senior Student

Housing Revenue Bonds, Towson University Project, Refunding

Series 2017

.000

07/01/37

530,183

190,000

(d) Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Green Street Academy, Series 2017A

.000

07/01/27

191,556

750,000

(d) Maryland Health and Higher Educational Facilities Authority,

Revenue Bonds, Imagine Andrews Public Charter School,

Series 2022A

.500

05/01/42

718,389

600,000

(d) Prince George's County, Maryland, Special Obligation Bonds,

Westphalia Town Center Project, Series 2018

.000

07/01/30

611,534

1,000,000

(d) Prince George's County, Maryland, Special Obligation Bonds,

Westphalia Town Center Project, Series 2018

.250

07/01/48

1,001,237

TOTAL MARYLAND

25,636,074

MASSACHUSETTS - 0.2%

2,410,000

(d) Massachusetts Development Finance Agency Revenue

Refunding Bonds, NewBridge on the Charles, Inc. Issue, Series

2017

.000

10/01/47

2,350,896

3,300,000

(d) Massachusetts Development Finance Agency, Massachusetts,

Senior Living Revenue Bonds, Care Communities, LLC Issue,

Series 2025A-1

.500

07/15/35

3,369,202

2,000,000

(d) Massachusetts Development Finance Agency, Massachusetts,

Senior Living Revenue Bonds, Care Communities, LLC Issue,

Series 2025A-1

.500

07/15/60

2,010,775

2,000,000

(d) Massachusetts Development Finance Agency, Revenue Bonds,

GingerCare Living Inc, Series 2024B-3

.750

12/01/29

2,003,311

2,100,000

(d) Massachusetts Development Finance Agency, Revenue Bonds,

GingerCare Living Inc, Series 2024B-3

.000

12/01/29

2,103,448

2,430,000

Massachusetts Port Authority, Revenue Bonds, Refunding

Series 2016B, (AMT)

.000

07/01/43

2,433,083

TOTAL MASSACHUSETTS

14,270,715

MICHIGAN - 0.8%

335,000

Advanced Technology Academy, Michigan, Public School

Academy Revenue Bonds, Refunding Series 2019

.875

11/01/29

332,211

85,000

Advanced Technology Academy, Michigan, Public School

Academy Revenue Bonds, Refunding Series 2019

.000

11/01/34

86,606

100,000

Conner Creek Academy East, Michigan, Public School Revenue

Bonds, Series 2007

.000

11/01/26

99,308

1,915,000

County of Calhoun Hospital Finance Authority, Michigan,

Hospital Revenue Bonds, Oaklawn Hospital, Refunding Series

2016

.000

02/15/30

1,942,003

2,010,000

County of Calhoun Hospital Finance Authority, Michigan,

Hospital Revenue Bonds, Oaklawn Hospital, Refunding Series

2016

.000

02/15/31

2,036,783

19,942,557

Detroit City & General Retirement System Service Corporation,

Michigan, Certificates of Participation, Taxable Series 2005A -

FGIC Insured

.813

06/15/26

21,388,392

5,000

Detroit, Michigan, Sewer Disposal System Revenue Bonds,

Second Lien, Series 2006B - NPFG Insured

.000

07/01/36

5,010

1,250,000

Michigan Finance Authority, Higher Education Limited

Obligation Revenue Bonds, Aquinas College Project,

Refunding Series 2021

.000

05/01/31

1,016,976

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MICHIGAN

(continued)

$

5,000,000

Michigan Finance Authority, Michigan, Revenue Bonds, Trinity

Health Credit Group, Refunding Series 2016MI

.000

%

12/01/45

$

5,024,271

570,000

Michigan Finance Authority, Public School Academy Limited

Obligation Revenue Bonds, Cesar Chavez Academy Project,

Refunding Series 2019

.000

02/01/29

571,351

740,000

Michigan Finance Authority, Public School Academy Limited

Obligation Revenue Bonds, Hanley International Academy, Inc.

Project, Refunding Series 2021

.500

09/01/30

714,003

1,450,000

Michigan Finance Authority, Public School Academy Limited

Obligation Revenue Bonds, Madison Academy Project,

Refunding Series 2021

.250

12/01/39

1,205,700

1,290,000

(d) Michigan Finance AuthorIty, Public School Academy Limited

Obligation Revenue Bonds, Voyageur Academy Project,

Refunding Series 2017. Private Placement of 2017

.900

07/15/46

1,027,365

150,000,000

Michigan Tobacco Settlement Finance Authority, Tobacco

Settlement Asset-Backed Revenue Bonds, Capital Appreciation

Turbo Term Series 2008C

.000

06/01/58

3,708,750

6,600,000

Oakland University, Michigan, General Revenue Bonds, Series

2016

.000

03/01/47

6,592,487

500,000

Saline Economic Development Corporation, Michigan, Limited

Obligation Revenue and Refunding Bonds, Evangelical Homes

of Michigan, Series 2012

.250

06/01/32

475,115

545,000

(d) Warren Academy, Macomb County, Michigan, Revenue Bonds,

Public School Academy, Refunding Series 2020A

.000

05/01/35

538,334

TOTAL MICHIGAN

46,764,665

MINNESOTA - 1.6%

320,000

Baytown Township, Minnesota Charter School Lease Revenue

Bonds, Saint Croix Preparatory Academy, Refunding Series

2016A

.500

08/01/26

317,656

400,000

Baytown Township, Minnesota Charter School Lease Revenue

Bonds, Saint Croix Preparatory Academy, Refunding Series

2016A

.500

08/01/27

394,562

270,000

Baytown Township, Minnesota Charter School Lease Revenue

Bonds, Saint Croix Preparatory Academy, Refunding Series

2016A

.000

08/01/28

267,957

415,000

Baytown Township, Minnesota Charter School Lease Revenue

Bonds, Saint Croix Preparatory Academy, Refunding Series

2016A

.000

08/01/29

410,896

260,000

Baytown Township, Minnesota Charter School Lease Revenue

Bonds, Saint Croix Preparatory Academy, Refunding Series

2016A

.000

08/01/30

255,786

300,000

Baytown Township, Minnesota Charter School Lease Revenue

Bonds, Saint Croix Preparatory Academy, Refunding Series

2016A

.000

08/01/31

293,013

320,000

Bethel, Minnesota, Charter School Lease Revenue Bonds, Level

Up Academy, Taxable Series 2021B

.000

06/15/27

312,614

540,000

City of Ham Lake, Minnesota, Charter School Lease Revenue

Bonds, DaVinci Academy Project, Series 2016A

.000

07/01/31

541,241

335,000

City of Ham Lake, Minnesota, Charter School Lease Revenue

Bonds, DaVinci Academy Project,Series 2016A

.000

07/01/28

330,949

1,100,000

Columbia Heights, Minnesota, Charter School Lease Revenue

Bonds, Prodeo Academy Project, Series 2019A

.875

07/01/29

1,066,297

1,680,000

Columbia Heights, Minnesota, Charter School Lease Revenue

Bonds, Prodeo Academy Project, Series 2019A

.000

07/01/34

1,644,850

2,135,000

Columbia Heights, Minnesota, Charter School Lease Revenue

Bonds, Prodeo Academy Project, Series 2019A

.000

07/01/39

1,973,408

1,715,000

Coon Rapids, Minnesota Charter School Lease Revenue Bonds

Athlos Leadership Academy Brooklyn Park, Refunding Series

2025

.250

06/15/35

1,739,067

1,225,000

Coon Rapids, Minnesota Charter School Lease Revenue Bonds

Athlos Leadership Academy Brooklyn Park, Refunding Series

2025

.500

06/15/47

1,249,643

3,515,000

Deephaven, Minnesota, Charter School Lease Revenue Bonds,

Eagle Ridge Academy Project, Series 2020A

.000

07/01/55

3,210,567

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA

(continued)

$

1,600,000

(d) Deephaven, Minnesota, Charter School Lease Revenue Bonds,

Seven Hills Preparatory Academy Project, Series 2024A

.125

%

06/15/61

$

1,458,877

400,000

(d) Deephaven, Minnesota, Charter School Lease Revenue Bonds,

Seven Hills Preparatory Academy Project, Taxable Series 2024B

.500

06/15/28

405,967

500,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Saint Luke's Hospital of Duluth

Obligated Group, Series 2022A, Forward Delivery

.000

06/15/29

540,826

500,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Saint Luke's Hospital of Duluth

Obligated Group, Series 2022A, Forward Delivery

.000

06/15/30

550,750

500,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Saint Luke's Hospital of Duluth

Obligated Group, Series 2022A, Forward Delivery

.000

06/15/31

558,248

500,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Saint Luke's Hospital of Duluth

Obligated Group, Series 2022A, Forward Delivery

.000

06/15/32

563,589

625,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Saint Luke's Hospital of Duluth

Obligated Group, Series 2022A, Forward Delivery

.000

06/15/33

701,066

600,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Saint Luke's Hospital of Duluth

Obligated Group, Series 2022A, Forward Delivery

.000

06/15/34

624,550

260,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Saint Luke's Hospital of Duluth

Obligated Group, Series 2022A, Forward Delivery

.000

06/15/35

268,644

425,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Saint Luke's Hospital of Duluth

Obligated Group, Series 2022A, Forward Delivery

.000

06/15/36

435,729

425,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Saint Luke's Hospital of Duluth

Obligated Group, Series 2022A, Forward Delivery

.000

06/15/37

432,360

300,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Saint Luke's Hospital of Duluth

Obligated Group, Series 2022A, Forward Delivery

.000

06/15/39

300,445

2,360,000

Greenwood, Minnesota, Charter School Lease Revenue Bonds,

Main Street School of Performing Arts Project, Series 2016A

.000

07/01/36

2,206,924

410,000

Hugo, Minnesota, Charter School Lease Revenue Bonds, Noble

Academy Project, Series 2014A

.000

07/01/29

410,246

225,000

Independence, Minnesota, Charter School Lease Revenue

Bonds, Paladin Career & Technical High School Project, Series

2021A

.250

06/01/31

206,158

170,000

Independence, Minnesota, Charter School Lease Revenue

Bonds, Paladin Career & Technical High School Project, Series

2021A

.000

06/01/41

134,864

2,100,000

(d) Independence, Minnesota, Charter School Lease Revenue

Bonds, Spero Academy Project, Series 2021A

.000

07/01/56

1,607,748

550,000

International Falls, Minnesota, Solid Waste Disposal Revenue

Bonds, Boise Cascade Corporation Project, Refunding Series

1999, (AMT)

.850

12/01/29

551,361

850,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Cyber Village Academy Project, Series 2022A

.250

06/01/42

779,758

130,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Cyber Village Academy Project, Taxable Series 2022B

.500

06/01/27

130,339

515,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Friendship Academy of the Arts Project, Series 2019A

.000

12/01/31

429,275

1,685,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Hennepin Schools Project, Series 2021A

.000

07/01/31

1,600,402

4,350,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Hennepin Schools Project, Series 2021A

.000

07/01/41

3,376,306

845,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Hiawatha Academies Project, Series 2022A

.000

07/01/32

831,576

550,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Hiawatha Academies Project, Series 2022A

.375

07/01/42

485,609

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA

(continued)

$

350,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Spero Academy Project, Series 2017A

.500

%

07/01/27

$

353,417

1,150,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Twin Cities International Schools Project, Series 2017A

.250

12/01/27

1,148,343

1,680,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Twin Cities International Schools Project, Series 2017A

.000

12/01/37

1,609,737

650,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Venture Academy Project, Series 2022A

.000

06/01/32

635,902

2,365,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Venture Academy Project, Series 2022A

.250

06/01/42

2,132,765

4,035,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Venture Academy Project, Series 2022A

.250

06/01/52

3,445,508

3,005,000

(d) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Venture Academy Project, Series 2022A

.500

06/01/57

2,598,635

240,000

Minneapolis, Minnesota, Tax Increment Revenue Bonds, Village

at St. Anthony Falls Project, Refunding Series 2015

.000

03/01/27

240,027

10,000,000

(f) Minnesota Municipal Gas Agency, Commodity Supply Revenue

Bonds, Series 2022B, (Mandatory Put 12/01/27) (SOFR\*0.67%

+ 1.000%)

.767

12/01/52

10,000,479

1,475,000

Otsego, Minnesota, Charter School Lease Revenue Bonds,

Kaleidoscope Charter School Project, Series 2014A

.000

09/01/34

1,446,649

290,000

Rochester, Minnesota, Charter School Lease Revenue Bonds,

Rochester Math & Science Academy Project, Series 2018A

.500

09/01/26

285,500

6,165,000

(d),(g)

Saint Cloud, Minnesota, Charter School Lease Revenue Bonds,

Athlos Academy, Series 2022A

.500

06/01/42

4,469,625

10,650,000

(d),(g)

Saint Cloud, Minnesota, Charter School Lease Revenue Bonds,

Athlos Academy, Series 2022A

.750

06/01/52

7,721,250

2,000,000

(d),(g)

Saint Cloud, Minnesota, Charter School Lease Revenue Bonds,

Athlos Academy, Series 2022A

.875

06/01/57

1,450,000

200,000

Saint Cloud, Minnesota, Charter School Lease Revenue Bonds,

Stride Academy Project, Series 2016A

.750

04/01/26

198,197

2,025,000

Saint Cloud, Minnesota, Charter School Lease Revenue Bonds,

Stride Academy Project, Series 2016A

.000

04/01/36

1,861,424

4,130,000

(d) Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Community School of

Excellence, Series 2023

.500

03/01/33

4,247,190

6,045,000

(d) Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Community School of

Excellence, Series 2023

.250

03/01/43

5,844,696

100,000

(d) Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Great River School

Project, Series 2017A

.750

07/01/29

100,685

1,285,000

(d) Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Metro Deaf School

Project, Series 2018A

.000

06/15/48

1,132,931

5,000,000

Saint Paul Housing and Redevelopment Authority, Minnesota,

Health Care Facility Revenue Bonds, HealthPartners Obligated

Group, Refunding Series 2015A

.000

07/01/35

4,999,971

700,000

Saint Paul Housing and Redevelopment Authority, Minnesota,

Lease Revenue Bonds, Hope Community Academy Project,

Series 2015A

.500

12/01/29

666,369

325,000

Savage, Minnesota Charter School Lease Revenue Bonds,

Aspen Academy Project, Series 2016A

.000

10/01/26

323,470

1,115,000

Savage, Minnesota Charter School Lease Revenue Bonds,

Aspen Academy Project, Series 2016A

.750

10/01/31

1,115,634

30,000

Winona Port Authority, Minnesota, Charter School Lease

Revenue Bonds, Bluffview Montessori School Project,

Refunding Series 2016

.750

06/01/26

29,754

4,405,000

(d) Woodbury, Minnesota, Charter School Lease Revenue Bonds,

Math and Science Academy Building Company, Refunding

Series 2025A

.500

06/01/35

4,348,022

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MINNESOTA

(continued)

$

780,000

(d) Woodbury, Minnesota, Charter School Lease Revenue Bonds,

Math and Science Academy Building Company, Refunding

Series 2025A

.250

%

06/01/45

$

730,052

TOTAL MINNESOTA

96,736,355

MISSISSIPPI - 0.2%

2,700,000

(d),(g)

Mississippi Business Finance Corporation, Gulf Opportunity

Zone Revenue Bonds, King Edward Mixed-Use Project,

Refunding Subordinate Series 2023, (Mandatory Put 6/15/25)

.000

10/15/49

2,565,000

930,000

(d),(g)

Mississippi Business Finance Corporation, Gulf Opportunity

Zone Revenue Bonds, King Edward Mixed-Use Project, Taxable

Refunding Series 2019A, (Mandatory Put 6/15/25)

.000

10/15/30

883,500

3,615,000

Mississippi Hospital Equipment and Facilities Authority,

Revenue Bonds, Baptist Memorial Healthcare, Series 2016A

.000

09/01/41

3,616,395

4,635,000

Mississippi Hospital Equipment and Facilities Authority,

Revenue Bonds, Baptist Memorial Healthcare, Series 2016A

.000

09/01/46

4,565,714

TOTAL MISSISSIPPI

11,630,609

MISSOURI - 0.7%

475,000

Cape Girardeau County Industrial Development Authority,

Missouri, Health Facilities Revenue Bonds, Southeasthealth,

Series 2016A

.000

03/01/33

480,515

4,000,000

Independence Industrial Development Authority, Missouri,

Revenue Bonds, Tax Increment and Special Districts, Hub Drive

Redevelopment Project Series 2023

.250

11/01/44

3,998,344

1,000,000

(d) Kansas City Industrial Development Authority, Missouri,

Economic Activity Tax Revenue Bonds, Historic Northeast

Redevelopment Plan Series 2024A-1

.000

06/01/46

957,745

770,000

(d) Kansas City Industrial Development Authority, Missouri,

Revenue Bonds, Platte Purchase Project A, Series 2019

.000

07/01/40

748,190

4,620,000

Kansas City School District, Missouri, Certificates of

Participation, Series 2025

.625

04/01/45

4,661,811

1,075,000

Kirkwood Industrial Development Authority, Missouri,

Retirement Community Revenue Bonds, Aberdeen Heights

Project, Refunding Series 2017A

.000

05/15/26

1,076,722

1,080,000

Kirkwood Industrial Development Authority, Missouri,

Retirement Community Revenue Bonds, Aberdeen Heights

Project, Refunding Series 2017A

.000

05/15/27

1,084,501

1,150,000

Kirkwood Industrial Development Authority, Missouri,

Retirement Community Revenue Bonds, Aberdeen Heights

Project, Refunding Series 2017A

.250

05/15/28

1,159,649

2,645,000

Kirkwood Industrial Development Authority, Missouri,

Retirement Community Revenue Bonds, Aberdeen Heights

Project, Refunding Series 2017A

.250

05/15/31

2,666,653

3,365,000

(d) Land Clearance for Redevelopment Authority of Kansas City,

Missouri, Project Revenue Bonds, Convention Center Hotel

Project - TIF Financing, Series 2018B

.375

02/01/31

3,344,464

1,300,000

(d) Land Clearance for Redevelopment Authority of Kansas City,

Missouri, Project Revenue Bonds, Convention Center Hotel

Project - TIF Financing, Series 2018B

.000

02/01/40

1,295,157

3,600,000

(d) Land Clearance for Redevelopment Authority of Kansas City,

Missouri, Project Revenue Bonds, Convention Center Hotel

Project - TIF Financing, Series 2018B

.000

02/01/50

3,472,602

725,000

(d) Missouri Health and Educational Facilities Authority,

Educational Facilities Revenue Bonds, Missouri Baptist

University, Series 2025

.000

10/01/35

723,651

1,000,000

(d) Missouri Health and Educational Facilities Authority,

Educational Facilities Revenue Bonds, Missouri Baptist

University, Series 2025

.000

10/01/45

991,457

296,758

(g) Missouri Health and Educational Facilities Authority, Revenue

Bonds, Christian Homes Inc., Senior Living Facilities Series

2018

.000

05/15/26

14,838

1,769,320

(g) Missouri Health and Educational Facilities Authority, Revenue

Bonds, Christian Homes Inc., Senior Living Facilities Series

2018

.000

05/15/40

88,466

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MISSOURI

(continued)

$

2,515,000

Missouri Southern State University, Auxiliary Enterprise System

Revenue Bonds, Series 2021

.000

%

10/01/31

$

2,484,482

3,135,000

Missouri Southern State University, Auxiliary Enterprise System

Revenue Bonds, Series 2021

.000

10/01/34

3,003,625

150,000

Plaza at Noah's Ark Community Improvement District, Saint

Charles, Missouri, Tax Increment and Improvement District

Revenue Bonds, Series 2021

.000

05/01/30

143,778

500,000

Plaza at Noah's Ark Community Improvement District, Saint

Charles, Missouri, Tax Increment and Improvement District

Revenue Bonds, Series 2021

.125

05/01/35

443,606

895,000

Saint Louis County Industrial Development Authority, Missouri,

Health Facilities Revenue Bonds, Ranken-Jordan Project,

Refunding & Improvement Series 2016

.000

11/15/27

895,952

990,000

Saint Louis County Industrial Development Authority, Missouri,

Health Facilities Revenue Bonds, Ranken-Jordan Project,

Refunding & Improvement Series 2016

.000

11/15/29

990,971

1,095,000

Saint Louis County Industrial Development Authority, Missouri,

Health Facilities Revenue Bonds, Ranken-Jordan Project,

Refunding & Improvement Series 2016

.000

11/15/31

1,095,869

175,000

Saint Louis County Industrial Development Authority, Missouri,

Revenue Bonds, Saint Andrew's Resources for Seniors, Series

2015A

.000

12/01/25

174,880

2,360,000

(d) Saint Louis Industrial Development Authority, Missouri,

Revenue Bonds, Confluence Academy Project, Series 2022A

.500

06/15/42

2,141,839

1,000,000

Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis

International Airport, Series 2017D, (AMT)

.000

07/01/35

1,020,266

490,000

Stoddard County Industrial Development Authority, Missouri,

Health Facility Revenue Bonds, Southeasthealth, Series 2016B

.000

03/01/37

495,093

500,000

(d) The Industrial Development Authority of the County of St.

Louis, Missouri, Transportation Development Refunding

Revenue Bonds, Series 2019B

.375

03/01/33

485,555

TOTAL MISSOURI

40,140,681

NEBRASKA - 1.0%

5,490,000

Central Plains Energy Project, Nebraska, Gas Project Revenue

Bonds, Project 5, Series 2022-1, (Mandatory Put 10/01/29)

.000

05/01/53

5,838,421

40,000,000

(e),(f)

Central Plains Energy Project, Nebraska, Gas Project Revenue

Bonds, Project 5, SOFR Series 2022-2, (Mandatory Put

10/01/29) (SOFR\*0.67% + 2.180%), (UB)

.101

05/01/53

41,515,228

5,750,000

Douglas County Hospital Authority 2, Nebraska, Hospital

Revenue Bonds, Madonna Rehabilitation Hospital Project,

Series 2014

.000

05/15/44

5,662,053

5,410,000

Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Social Series 2023G

.400

09/01/53

5,591,816

TOTAL NEBRASKA

58,607,518

NEVADA - 0.3%

1,030,000

Clark County, Nevada, Local Improvement Bonds, Special

Improvement District 159 Summerlin Village 16A, Series 2015

.000

08/01/28

1,030,774

820,904

(d),(g)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Green Series 2017B, (AMT)

.125

12/15/37

2,714,441

(d),(g)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Green Series 2018, (AMT)

.950

02/15/38

1,832,350

(d),(g)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Green Series 2020

.750

02/15/38

7,469,738

(d),(g)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Series 2017, (AMT)

.875

12/15/27

2,292,095

(d),(g)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Series 2017, (AMT)

.250

12/15/37

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEVADA

(continued)

$

6,400,000

(d) Director of Nevada State Department of Business and Industry,

Revenue Bonds, Brightline West Passenger Rail Project, Series

2025A, (AMT), (Mandatory Put 1/01/33)

.500

%

01/01/65

$

5,851,647

1,500,000

(d) Director of the State of Nevada Department of Business and

Industry, Charter School Lease Revenue Bonds, Somerset

Academy, Series 2018A

.000

12/15/48

1,369,361

1,440,000

Henderson, Nevada, Limited Obligation Bonds, Local

Improvement District T-18 Inspirada, Refunding Series 2016

.000

09/01/32

1,418,266

615,000

Henderson, Nevada, Limited Obligation Bonds, Local

Improvement District T-18 Inspirada, Refunding Series 2016

.000

09/01/35

586,819

670,000

Henderson, Nevada, Local Improvement District No. T-20

Rainbow Canyon, Local Improvement Bonds, Series 2018

.000

09/01/38

653,388

415,000

Las Vegas, Nevada, Local Improvement Bonds, Special

Improvement District 812 Summerlin Village 24, Series 2015

.000

12/01/26

416,013

310,000

Las Vegas, Nevada, Local Improvement Bonds, Special

Improvement District 814 Summerlin Village 21& 24A, Series

2019

.000

06/01/39

291,387

145,000

Neveda State Director of the Department of Business and

Industry, Charter School Revenue Bonds, Doral Academy of

Nevada, Series 2017A

.000

07/15/27

145,087

1,400,000

Neveda State Director of the Department of Business and

Industry, Charter School Revenue Bonds, Doral Academy of

Nevada, Series 2017A

.000

07/15/47

1,283,676

600,000

North Las Vegas, Nevada, Local Improvement Bonds, Special

Improvement District 64 Valley Vista, Series 2019

.250

06/01/34

591,842

735,000

North Las Vegas, Nevada, Local Improvement Bonds, Special

Improvement District 64 Valley Vista, Series 2019

.500

06/01/39

711,894

505,000

(d) North Las Vegas, Nevada, Local Improvement Bonds, Special

Improvement District 65 Northern Beltway Commercial Area,

Series 2017

.000

12/01/27

505,330

1,600,000

(d) North Las Vegas, Nevada, Local Improvement Bonds, Special

Improvement District 65 Northern Beltway Commercial Area,

Series 2017

.000

12/01/37

1,603,323

580,000

Reno, Nevada, Redevelopment Agency Downtown Project Tax

Allocation Bonds, Series 2007C

.400

06/01/27

580,103

400,000

Reno, Nevada, Subordinate Lien Sales Tax Revenue Refunding

Bonds, ReTrac-Reno Transporation Rail Access Corridor Project,

Series 2018B - AGM Insured

.000

06/01/38

414,546

TOTAL NEVADA

17,453,607

NEW HAMPSHIRE - 1.6%

1,250,000

(d) National Finance Authority, New Hampshire, Resource

Recovery Revenue Bonds, Covanta Project, Refunding Series

2018A, (AMT)

.000

11/01/27

1,249,635

2,000,000

(d) National Finance Authority, New Hampshire, Resource

Recovery Revenue Bonds, Covanta Project, Refunding Series

2018B

.625

11/01/42

1,804,341

1,270,000

(d) National Finance Authority, New Hampshire, Resource

Recovery Revenue Bonds, Covanta Project, Refunding Series

2020A, (Mandatory Put 7/02/40)

.625

07/01/43

1,052,776

49,620,000

(d) National Finance Authority, New Hampshire, Special

Revenue Bonds, Bridgeland Water & Utility Districts

418,489,492,493,157 & 159, Series 2025

.875

12/15/33

49,938,020

1,750,000

(d) National Finance Authority, New Hampshire, Special Revenue

Bonds, Mill Creek Project, Montgomery County, Texas Series

2025

.950

12/01/31

1,758,215

10,000,000

(d) National Finance Authority, New Hampshire, Special Revenue

Bonds, Mirador Project, Travis County, Series 2025

.000

12/01/31

10,065,697

15,000,000

(d) National Finance Authority, New Hampshire, Special Revenue

Bonds, Provence Project, Travis County Capital Appreciation

Series 2025

.000

12/01/31

10,097,055

24,500,000

(d) National Finance Authority, New Hampshire, Special Revenue

Bonds, The Lariat Phase 2 Project, Williamson County, Texas

Capital Appreciation Series 2025

.000

12/15/32

15,114,248

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW HAMPSHIRE

(continued)

$

2,370,000

(d) National Finance Authority, New Hampshire, Special Revenue

Bonds, Wildflower Project, Denton County, Texas, Capital

Appreciation Series 2025

.000

%

12/15/33

$

1,453,887

3,000,000

(d) New Hampshire National Finance Authority, Special Revenue

Bonds, Silverado Project Denton County Series 2024

.000

12/01/28

3,005,181

TOTAL NEW HAMPSHIRE

95,539,055

NEW JERSEY - 1.5%

4,980,000

Hudson County Improvement Authority, New Jersey, County

Secured Lease Revenue Bonds, Hudson County Vocational

Technical Schools Project, Series 2016

.000

05/01/46

4,995,383

445,000

(h) New Jersey Building Authority, State Building Revenue Bonds,

Refunding Series 2016A, (Pre-refunded 6/15/26)

.000

06/15/30

449,700

900,000

New Jersey Economic Development Authority, Charter School

Revenue Bonds, North Star Academy Charter School of

Newark, Series 2017

.000

07/15/32

918,162

110,000

(d) New Jersey Economic Development Authority, Charter School

Revenue Bonds, Teaneck Community Charter School, Series

2017A

.250

09/01/27

110,887

2,000,000

New Jersey Economic Development Authority, Fixed Rate

Revenue Bonds, Lions Gate Project, Series 2014

.000

01/01/34

1,999,871

28,800,000

(d) New Jersey Economic Development Authority, New Jersey,

Dock and Wharf Facility Revenue Bonds, Repauno Port & Rail

Terminal Project, Series 2025, (AMT)

.375

01/01/35

29,782,083

4,380,000

New Jersey Economic Development Authority, Special

Facilities Revenue Bonds, Continental Airlines Inc., Refunding

Series 2012, (AMT)

.750

09/15/27

4,390,509

3,315,000

New Jersey Economic Development Authority, Special

Facilities Revenue Bonds, Continental Airlines Inc., Series

2000A & 2000B, (AMT)

.625

11/15/30

3,320,876

6,000,000

New Jersey Economic Development Authority, Special

Facilities Revenue Bonds, Continental Airlines Inc., Series

2000A & 2000B, (AMT)

.625

11/15/30

6,010,634

3,000,000

New Jersey Economic Development Authority, Special Facility

Revenue Bonds, Port Newark Container Terminal LLC Project,

Refunding Series 2017, (AMT)

.000

10/01/37

3,038,137

5,290,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Inspira Health Obligated Group Issue, Series 2017A

.000

07/01/42

5,324,454

13,690,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Saint Joseph's Healthcare System Obligated Group

Issue, Refunding Series 2016

.000

07/01/41

13,702,758

4,490,000

New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2019AA

.000

06/15/46

4,555,754

1,500,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019AA

.125

06/15/39

1,499,748

280,000

Passaic County Improvement Authority, New Jersey, Charter

School Revenue Bonds, Community Charter School of

Paterson, Series 2024A

.000

01/01/34

289,854

1,055,000

Passaic County Improvement Authority, New Jersey, Charter

School Revenue Bonds, Community Charter School of

Paterson, Series 2024A

.750

01/01/45

973,382

1,000,000

Passaic County Improvement Authority, New Jersey, Charter

School Revenue Bonds, Paterson Charter School for Science

and Technology, Inc. Project, Series 2025

.125

07/01/33

1,021,494

7,155,000

Tobacco Settlement Financing Corporation, New Jersey,

Tobacco Settlement Asset-Backed Bonds, Series 2018B

.000

06/01/46

6,992,196

TOTAL NEW JERSEY

89,375,882

NEW MEXICO - 0.0%

450,000

Aspire Public Improvement District, Albuquerque, New Mexico,

Special Levy Revenue Bonds, Series 2024

.450

10/01/33

453,023

525,000

Aspire Public Improvement District, Albuquerque, New Mexico,

Special Levy Revenue Bonds, Series 2024

.050

10/01/44

493,457

50,000

Boulders Public Improvement District, Albuquerque, New

Mexico, Special Levy Revenue Bonds, Series 2015

.875

10/01/25

50,000

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW MEXICO

(continued)

$

1,555,000

Mariposa East Public Improvement District, New Mexico,

Special Levy Revenue Bonds, Series 2015B

.900

%

09/01/32

$

1,554,979

TOTAL NEW MEXICO

2,551,459

NEW YORK - 5.1%

1,250,000

Babylon Local Development Corporation II, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2023A

.750

02/01/33

1,310,689

13,930,000

Brooklyn Arena Local Development Corporation, New York,

Payment in Lieu of Taxes Revenue Bonds, Barclays Center

Project, Refunding Series 2016A

.000

07/15/42

13,960,036

225,000

Build New York City Resource Corporation, New York, Revenue

Bonds, Global Community Charter School Project, Series

2022A

.000

06/15/42

200,609

700,000

(g) Build New York City Resource Corporation, New York, Revenue

Bonds, Metropolitan College of New York, Series 2014

.250

11/01/34

490,000

1,000,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Albert Einstein College of Medicine, Inc, Series 2023

.250

06/01/55

1,038,999

3,805,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020A-1

.250

06/01/40

3,618,749

5,330,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020C-1

.000

06/01/40

4,938,267

360,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Richmond Preparatory Charter School Project, Social Impact

Project Series 2021A

.000

06/01/31

337,285

450,000

(d) Build NYC Resource Corporation, New York, Revenue Bonds,

Richmond Preparatory Charter School Project, Social Impact

Project Series 2021A

.000

06/01/36

419,718

1,000,000

(d) Dormitory Authority of the State of New York, Revenue Bonds,

Orange Regional Medical Center Obligated Group, Series

2015

.000

12/01/25

1,000,201

1,300,000

(d) Dormitory Authority of the State of New York, Revenue Bonds,

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/25

1,300,834

2,800,000

(d) Dormitory Authority of the State of New York, Revenue Bonds,

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/26

2,820,632

1,300,000

(d) Dormitory Authority of the State of New York, Revenue Bonds,

Orange Regional Medical Center Obligated Group, Series

2017

.000

12/01/37

1,240,575

1,500,000

Dormitory Authority of the State of New York, Revenue Bonds,

Pace University, Series 2024A

.250

05/01/41

1,559,630

3,000,000

Dormitory Authority of the State of New York, Revenue Bonds,

Pace University, Series 2024B

.000

05/01/34

3,251,567

2,000,000

Dormitory Authority of the State of New York, Revenue Bonds,

Pace University, Series 2024B

.000

05/01/35

2,152,271

2,700,000

Dormitory Authority of the State of New York, Revenue Bonds,

Pace University, Series 2024B

.000

05/01/36

2,879,948

3,305,000

Dormitory Authority of the State of New York, Revenue Bonds,

Pace University, Series 2024B

.000

05/01/37

3,495,135

12,390,000

Glen Cove Local Economic Assistance Corporation, New York,

Revenue Bonds, Garvies Point Public Improvement Project,

Capital Appreciation Series 2016B

.000

01/01/45

3,438,787

4,000,000

Glen Cove Local Economic Assistance Corporation, New York,

Revenue Bonds, Garvies Point Public Improvement Project,

Capital Appreciation Series 2016C

.625

01/01/55

3,555,579

4,210,000

Glen Cove Local Economic Assistance Corporation, New York,

Revenue Bonds, Garvies Point Public Improvement Project,

Current Interest Series 2016A

.000

01/01/56

3,367,508

1,000,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2017A

.890

02/01/32

1,013,895

1,000,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2018A

.470

02/01/33

1,032,997

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

645,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2020A

.760

%

02/01/27

$

645,858

555,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2021A

.050

02/01/31

539,303

3,560,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2021A

.450

02/01/41

3,011,526

4,795,000

Jefferson County Civic Facility Development Corporation, New

York, Revenue Bonds, Samaritan Medical Center Project, Series

2017A

.000

11/01/42

3,841,248

1,000,000

(g) Madison County Capital Resource Corporation, New York,

Revenue Bonds, Cazenovia College Project, Series 2019A

.500

09/01/26

440,000

12,050,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2016A-1

.250

11/15/56

12,070,930

1,770,000

(f) Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Variable Rate Demand

Obligations, Series 2002G-1 (SOFR\*0.67% + 0.430%)

.197

11/01/26

1,769,469

500,000

(d) Monroe County Industrial Development Corporation, New

York, Revenue Bonds, Academy of Health Sciences Charter

School Project, Social Impact Series 2022

.000

07/01/32

515,219

1,390,000

(d) Monroe County Industrial Development Corporation, New

York, Revenue Bonds, Academy of Health Sciences Charter

School Project, Social Impact Series 2022

.625

07/01/42

1,376,625

27,835,000

MTA Hudson Rail Yards Trust Obligations, New York,

MTA Financing Agreement Payable by the Metropolitan

Transportation Authority, Series 2016A

.000

11/15/51

27,833,413

400,000

Nassau County Local Economic Assistance Corporation, New

York, Revenue Bonds, Catholic Health Services of Long Island

Obligated Group Project, Series 2014B

.000

07/01/29

400,438

325,000

New York City Housing Development Corporation, New York,

Multi-Family Mortgage Revenue Bonds, 8 Spruce Street, Class

D Series 2024

.000

12/15/31

336,154

1,475,000

New York City Housing Development Corporation, New York,

Multi-Family Mortgage Revenue Bonds, 8 Spruce Street, Class

F Series 2024

.250

12/15/31

1,522,465

250,000

New York City Housing Development Corporation, New York,

Multi-Family Mortgage Revenue Bonds, 8 Spruce Street,

Taxable Class E Series 2024

.375

12/15/31

257,240

6,360,000

(g) New York City Industrial Development Agency, New York, Civic

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.300

10/01/27

4,070,400

1,685,000

(g) New York City Industrial Development Agency, New York, Civic

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.350

10/01/46

1,078,400

9,435,000

New York Convention Center Development Corporation, New

York, Revenue Bonds, Hotel Unit Fee Secured, Refunding

Series 2015

.000

11/15/40

9,442,499

5,685,000

New York Convention Center Development Corporation, New

York, Revenue Bonds, Hotel Unit Fee Secured, Refunding

Series 2015

.000

11/15/45

5,686,162

5,040,000

New York Counties Tobacco Trust IV, Tobacco Settlement Pass-

Through Bonds, Turbo Term Series 2005A

.000

06/01/42

4,304,442

65,625,000

(d) New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 3 World Trade Center Project, Class 1 Series

2014

.000

11/15/44

65,625,236

7,955,000

(d) New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 3 World Trade Center Project, Class 2 Series

2014

.150

11/15/34

7,963,575

2,500,000

(d) New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 3 World Trade Center Project, Class 2 Series

2014

.375

11/15/40

2,500,441

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

1,775,000

(d) New York State Environmental Facilities Corporation, Solid

Waste Disposal Revenue Bonds, Casella Waste Systems, Inc.

Project, Series 2020R-1, (AMT), (Mandatory Put 9/03/30)

.250

%

09/01/50

$

1,792,383

1,180,000

New York Transportation Development Corporation, New York,

Facility Revenue Bonds, Thruway Service Areas Project, Series

2021, (AMT)

.000

10/31/41

1,076,050

12,985,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/46

12,873,255

1,180,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.250

01/01/50

1,179,947

1,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, American Airlines, Inc. John F

Kennedy International Airport Project, Series 2021, (AMT)

.000

08/01/31

940,219

1,780,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

12/01/38

1,850,871

8,000,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2018, (AMT)

.000

01/01/26

8,029,659

4,000,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2018, (AMT)

.000

01/01/34

4,086,765

1,970,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2018, (AMT)

.000

01/01/36

2,001,647

13,505,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2020, (AMT)

.000

10/01/30

13,700,731

10,000,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2023, (AMT)

.000

04/01/35

10,998,073

1,250,000

Onondaga Civic Development Corporation, New York,

Revenue Bonds, Crouse Health Hospital Inc. Project, Refunding

Series 2024A

.125

08/01/44

1,052,848

3,000,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, One Hundred Ninety-Seventh Series 2016,

(AMT)

.000

11/15/32

3,045,858

2,580,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Series 2021B-2

.000

06/01/66

224,246

10,385,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/30

8,247,848

4,895,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/31

3,832,195

3,230,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/32

2,498,197

5,700,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/33

4,369,233

2,000,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/34

1,522,042

6,705,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/35

5,072,488

2,100,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/36

1,580,849

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

1,600,000

(d) Westchester County Local Development Corporation, New

York, Revenue Bond, Purchase Senior Learning Community, Inc.

Project, Accd Inv Series 2021A

.000

%

07/01/36

$

1,627,941

145,000

Westchester County Local Development Corporation, New

York, Revenue Bonds, Kendal on Hudson Project, Refunding

Series 2022B

.000

01/01/27

147,266

480,000

Westchester County Local Development Corporation, New

York, Revenue Bonds, Kendal on Hudson Project, Refunding

Series 2022B

.000

01/01/32

508,368

525,000

Westchester County Local Development Corporation, New

York, Revenue Bonds, Kendal on Hudson Project, Refunding

Series 2022B

.000

01/01/37

547,262

500,000

Westchester County Local Development Corporation, New

York, Revenue Bonds, Kendal on Hudson Project, Refunding

Series 2022B

.000

01/01/41

510,195

TOTAL NEW YORK

306,971,390

NORTH CAROLINA - 0.1%

1,145,000

North Carolina Department of Transportation, Private Activity

Revenue Bonds, I-77 Hot Lanes Project, Series 2015, (AMT)

.000

06/30/26

1,146,634

900,000

North Carolina Medical Care Commission, Health Care

Facilities Revenue Bonds, Lutheran Services for the Aging,

Series 2021A

.000

03/01/36

871,772

4,400,000

North Carolina Turnpike Authority, Monroe Expressway

Toll Revenue Bonds, Series 2017A

.000

07/01/47

4,407,748

TOTAL NORTH CAROLINA

6,426,154

NORTH DAKOTA - 0.2%

3,115,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/34

3,126,869

4,000,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/38

3,925,256

6,110,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/48

5,728,283

1,100,000

Ward County Health Care, North Dakota, Revenue Bonds,

Trinity Obligated Group, Series 2017C

.000

06/01/53

1,010,098

TOTAL NORTH DAKOTA

13,790,506

OHIO - 3.5%

1,000,000

Akron, Bath and Copley Joint Township Hospital District, Ohio,

Hospital Facilities Revenue Bonds, Summa Health System,

Refunding & Improvement Series 2016

.250

11/15/41

1,014,069

10,000,000

American Municipal Power Inc., Ohio, Combined Hydroelectric

Projects Revenue Bonds, Green Series 2016A

.000

02/15/46

9,999,318

3,915,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Capital Appreciation Series 2020B-3 Class 2

.000

06/01/57

367,186

14,500,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020B-2 Class 2

.000

06/01/55

12,394,122

10,000,000

(d) Cleveland-Cuyahoga County Port Authority, Ohio,

Development Revenue Bonds, Pinecrest Public Improvement

Project, Series 2017

.000

11/15/48

10,397,753

750,000

(d) Cleveland-Cuyahoga County Port Authority, Ohio, Lease

Revenue Bonds, Constellation Schools Project, Refunding &

improvement Series 2024A

.250

01/01/34

773,431

885,000

(d) Cleveland-Cuyahoga County Port Authority, Ohio, Lease

Revenue Bonds, Constellation Schools Project, Refunding &

improvement Series 2024A

.375

01/01/39

890,616

12,040,000

County of Lucas, Ohio, Hospital Revenue Bonds, ProMedica

Healthcare Obligated Group, Series 2018A

.250

11/15/48

11,905,318

3,305,000

Cuyahoga County Ohio, Health Care and Independent Living

Facilities, Revenue Refunding Bonds, Eliza Jennings Senior

Care Network, Series 2022A

.375

05/15/37

3,304,449

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

4,310,000

Cuyahoga County Ohio, Health Care and Independent Living

Facilities, Revenue Refunding Bonds, Eliza Jennings Senior

Care Network, Series 2022A

.500

%

05/15/42

$

4,143,229

1,000,000

Cuyahoga County, Ohio, Hospital Revenue Bonds, MetroHealth

System, Series 2017

.000

02/15/37

1,005,375

8,440,000

Cuyahoga County, Ohio, Hospital Revenue Bonds, MetroHealth

System, Series 2017

.500

02/15/52

8,442,477

200,000

Franklin County, Ohio, Health Care Facilities Revenue

Bonds, Friendship Village of Dublin, Ohio, Inc., Refunding

&Improvement Series 2014

.000

11/15/25

200,054

500,000

Franklin County, Ohio, Health Care Facilities Revenue

Bonds, Friendship Village of Dublin, Ohio, Inc., Refunding

&Improvement Series 2014

.000

11/15/26

500,314

17,250,000

Franklin County, Ohio, Hospital Facilities Revenue Bonds,

OhioHealth Corporation, Series 2015

.000

05/15/45

17,254,292

2,000,000

Greater Cincinnati Port Development Authority, Ohio, Tax

Increment Revenue Bonds, RBM Phase 3 Garage Project Series

2024

.000

12/01/44

1,966,724

18,425,000

(d) Jefferson County Port Authority, Ohio, Economic Development

Revenue Bonds, JSW Steel USA Ohio, Inc. Project, Series 2023,

(AMT), (Mandatory Put 12/01/28)

.000

12/01/53

18,641,251

455,000

Jeffrey Place New Community Authority, Ohio, Jeffrey Place

Redevelopment Bonds, Series 2007A

.000

12/01/32

448,833

5,000,000

Lancaster Port Authority, Ohio, Gas Supply Revenue Bonds,

Series 2024A, (Mandatory Put 8/01/30)

.000

02/01/55

5,372,446

645,000

Norwood, Ohio, Special Obligation Revenue Bonds,

Rookwood Exchange Project, Refunding Series 2025

.375

12/01/30

651,793

500,000

Norwood, Ohio, Special Obligation Revenue Bonds,

Rookwood Exchange Project, Refunding Series 2025

.000

12/01/35

519,528

725,000

Norwood, Ohio, Special Obligation Revenue Bonds,

Rookwood Exchange Project, Refunding Series 2025

.000

12/01/41

726,287

2,350,000

(d) Ohio Air Quality Development Authority, Ohio, Exempt

Facilities Revenue Bonds, AMG Vanadium Project, Series 2019,

(AMT)

.000

07/01/49

2,153,551

17,370,000

Ohio Air Quality Development Authority, Ohio, Pollution

Control Revenue Bonds, FirstEnergy Nuclear Generation

Project, Refunding Series 2009A, (Mandatory Put 6/01/22)

.750

06/01/33

18,108,418

1,305,000

(d) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Sanctuary at Springboro Project, Series 20017

.125

01/01/32

1,309,916

12,040,000

(d) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Sanctuary at Springboro Project, Series 2017

.450

01/01/38

11,915,020

2,005,000

(d) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Silver Birch Bedford Heights, Series 2025

.375

01/01/45

2,046,219

4,210,000

(d) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Silver Birch of Amherst, Series 2025A

.250

01/01/45

4,260,108

1,100,000

(d) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Silver Birch of Canton, Series 2025

.250

01/01/45

1,113,092

1,000,000

(d) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Silver Birch of Cuyahoga Falls, Series 2025A

.250

01/01/45

1,011,902

730,000

(d) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Silver Birch of Mansfield Project, Series 2024

.000

01/01/45

718,417

2,000,000

Ohio State, Hospital Revenue Bonds, University Hospitals

Health System, Inc., Refunding Series 2016A

.000

01/15/41

2,002,767

3,540,000

Ohio State, Private Activity Bonds, Portsmouth Gateway Group,

LLC - Borrower, Portsmouth Bypass Project, Series 2015, (AMT)

.000

12/31/39

3,538,573

35,080,000

Ohio Water Development Authority, Pollution Control Revenue

Refunding Bonds, FirstEnergy Nuclear Generating Corporation

Project, Series 2009A

.750

06/01/33

36,571,289

1,000,000

(d) Port of Greater Cincinnati Development Authority, Ohio,

Multifamily Housing Revenue Bonds, Vivera Northbrook

Project, Series 2025A

.500

01/01/45

1,023,005

490,000

(d) Port of Greater Cincinnati Development Authority, Ohio, Public

Improvement TOT Revenue Bonds, Series 2021

.750

12/01/31

496,364

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

415,000

Southeastern Ohio Port Authority, Hosptial Facilities Revenue

Bonds, Memorial Health System Obligated Group Project,

Improvement Series 2015

.000

%

12/01/25

$

414,931

2,240,000

Tuscarawas County Economic Development and Finance

Alliance, Ohio, Higher Education Facilities Revenue Bonds,

Ashland University, Refunding & Improvement Series 2015

.375

03/01/27

2,240,367

2,000,000

Tuscarawas County Economic Development and Finance

Alliance, Ohio, Higher Education Facilities Revenue Bonds,

Ashland University, Refunding & Improvement Series 2015

.000

03/01/45

1,922,787

5,000,000

Washington County, Ohio, Hospital Facilities Revenue Bonds,

Memorial Health System Obligated Group, Series 2022

.375

12/01/37

5,343,369

TOTAL OHIO

207,108,960

OKLAHOMA - 0.7%

1,500,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.000

08/15/38

1,523,095

1,510,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.250

08/15/43

1,519,670

2,600,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.500

08/15/57

2,605,744

1,780,000

Tulsa County Industrial Authority, Oklahoma, Senior Living

Community Revenue Bonds, Montereau, Inc Project, Refunding

Series 2017

.000

11/15/30

1,817,600

730,000

Tulsa County Industrial Authority, Oklahoma, Senior Living

Community Revenue Bonds, Montereau, Inc Project, Refunding

Series 2017

.000

11/15/32

742,860

2,500,000

Tulsa County Industrial Authority, Oklahoma, Senior Living

Community Revenue Bonds, Montereau, Inc Project, Refunding

Series 2017

.250

11/15/45

2,456,886

3,705,000

Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,

American Airlines Inc., Refunding Series 2001B, (AMT)

.500

12/01/35

3,705,930

20,625,000

Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,

American Airlines Inc., Series 2025, (AMT)

.250

12/01/35

23,607,361

1,250,000

Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,

American Airlines Inc., Series 2025, (AMT)

.250

12/01/40

1,391,174

TOTAL OKLAHOMA

39,370,320

OREGON - 0.6%

1,500,000

Forest Grove, Oregon, Campus Improvement Revenue Bonds,

Pacific University Project, Refunding Series 2015A

.000

05/01/36

1,500,314

860,000

Multnomah County Hospital Facilities Authority, Oregon,

Revenue Bonds, Terwilliger Plaza-Parkview Project, Refunding

Green Series 2021A

.000

12/01/36

798,127

3,030,000

(d) Oregon Facilities Authority Charter School Revenue Bonds,

Oregon, Portland Village School Project, Series 2024

.500

12/15/44

2,880,481

13,475,000

Oregon Facilities Authority, Revenue Bonds, Legacy Health

Project, Series 2016A

.000

06/01/46

13,501,573

610,000

(d) Oregon Facilities Authority, Revenue Bonds, Metro East Web

Academy Project, Series 2019A

.750

06/15/29

594,259

75,000

Oregon Housing and Community Services Department,

Multifamily Housing Revenue Bonds, Series 2012B, (AMT)

.700

07/01/32

74,999

1,000,000

(d) Oregon State Facilities Authority, Oregon, Charter School

Revenue Bonds, Academy for Character Education, Series

2022A

.750

06/15/42

1,007,437

9,150,000

(d) Port of Morrow, Morrow County Oregon, Full Faith and Credit

Obligations, Series 2024A

.150

10/01/26

9,149,939

3,860,000

Port of Portland, Oregon, International Airport Revenue Bonds,

Series 2017-24B, (AMT)

.000

07/01/47

3,864,419

1,135,000

Port of Saint Helens, Oregon, Pollution Control Revenue Bonds,

Boise Cascade Project, Series 1997

.650

12/01/27

1,136,653

TOTAL OREGON

34,508,201

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA - 2.9%

$

80,000

(d) Allentown Commercial and Industrial Development Authority,

Pennsylvania, Revenue Bonds, Arts Academy Charter Middle

School Foundation Project, Taxable Series 2022B

.000

%

06/15/26

$

79,647

1,150,000

(d) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, City Center

Project, Series 2018

.000

05/01/42

1,150,463

4,035,000

(d) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, City Center

Project, Series 2024

.000

05/01/42

4,059,773

3,010,000

(d) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, City Center

Project, Subordinate Series 2022

.250

05/01/42

3,075,093

1,000,000

(d) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, City Center

Refunding Project, Series 2017

.000

05/01/42

1,000,237

2,010,000

(d) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, Neuweiler Lofts

Project, Series 2023

.250

05/01/42

1,987,121

480,000

(d) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, Waterfront-30 E

Allen Street Project, Senior Series 2024A

.250

05/01/32

489,565

2,535,000

Berks County Industrial Development Authority, Pennsylvania,

Healthcare Facilities Revenue Bonds, Highlands at Wyomissing,

Series 2017C

.000

05/15/47

2,413,700

2,387,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-2

.000

06/30/34

2,497,541

59,401,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Series 2024A-3

.000

06/30/39

53,784,214

7,500,000

Berks County Municipal Authority, Pennsylvania, Revenue

Bonds, Tower Health Project, Taxable Series 2024B-2

.000

06/30/44

4,301,858

295,000

Chester County Health and Education Facilities Authority,

Pennsylvania, Revenue Bonds, Simpson Senior Services Project,

Series 2015A

.000

12/01/30

276,984

615,000

Chester County Industrial Development Authority,

Pennsylvania, Avon Grove Charter School Revenue Bonds,

Series 2017A

.000

12/15/27

618,722

105,000

(d) Chester County Industrial Development Authority,

Pennsylvania, Special Obligation Bonds, Woodlands at

Greystone Project, Series 2018

.375

03/01/28

105,247

2,000,000

(d) Dauphin County General Authority, Pennsylvania, Revenue

Bonds, Harrisburg University of Science & Technology Project,

Series 2017

.125

10/15/41

1,412,026

5,000,000

(d) Dauphin County General Authority, Pennsylvania, Revenue

Bonds, Harrisburg University of Science & Technology Project,

Series 2020

.250

10/15/53

3,618,367

190,000

Delaware County Authority, Pennsylvania, Revenue Bonds,

Elwyn, Inc. Project, Series 2017

.000

06/01/27

192,275

1,455,000

Lancaster County Hospital Authority, Pennsylvania, Revenue

Bonds, United Zion Retirement Community, Series 2017A

.500

12/01/29

1,433,595

500,000

Lancaster County Hospital Authority, Pennsylvania, Revenue

Bonds, United Zion Retirement Community, Series 2017A

.000

12/01/32

491,758

575,000

Lehigh County Industrial Development Authority, Pennsylvania,

Charter School Revenue Bonds, Seven Generations Charter

School, Series 2021A

.000

05/01/31

562,861

1,000,000

McCandless IDA, Pennsylvania, University Revenue Bonds

Series A and B of 2022 La Roche University

.750

12/01/46

904,084

1,620,000

Monroe County Industrial Development Authority,

Pennsylvania, Special Obligation Revenue Bonds, Camelback

Pocono Township Tax Project, Refunding Series 2025

.000

07/01/33

1,644,375

3,400,000

Monroe County Industrial Development Authority,

Pennsylvania, Special Obligation Revenue Bonds, Tobyhanna

Township Project, Refunding Series 2025

.000

07/01/31

3,510,051

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

15,000,000

Montgomery County Industrial Development Authority,

Pennsylvania, Revenue Bonds, ACTS Retirement-Life

Communities, Inc. Obligated Group, Series 2025A

.000

%

11/15/42

$

15,185,270

1,000,000

Montgomery County Industrial Development Authority,

Pennsylvania, Revenue Bonds, Whitemarsh Continuing Care

Retirement Community Project, Series 2015

.000

01/01/30

1,000,508

1,000,000

Montgomery County Redevelopment Authority, Pennsylvania,

Special Obligation Revenue Bonds, River Pointe Project Series

2023

.500

09/01/43

1,006,827

5,160,000

(a),(d),(g)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2020A-1

.000

12/01/40

516

5,160,000

(a),(d),(g)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2020A-2, (AMT)

.000

12/01/40

516

6,055,000

(a),(g)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2021A

.000

12/01/31

606

5,000,000

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, National Gypsum Company,

Refunding Series 2014, (AMT)

.500

11/01/44

5,001,077

1,300,000

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, PPL Energy Supply, LLC

Project, Refunding Series 2009B, (Mandatory Put 6/01/27)

.250

12/01/38

1,308,990

500,000

Pennsylvania Economic Development Financing Authority,

Pennsylvania, Private Activity Revenue Bonds, The PennDOT

Major Bridges Package One Project, Series 2022, (AMT)

.500

06/30/39

526,543

2,500,000

Pennsylvania Economic Development Financing Authority,

Private Activity Revenue Bonds, Pennsylvania Rapid Bridge

Replacement Project, Series 2015, (AMT)

.000

12/31/38

2,507,902

15,830,000

Pennsylvania Higher Educational Facilities Authority, Revenue

Bonds, Drexel University, Refunding Series 2017

.000

05/01/41

15,900,233

2,690,000

Pennsylvania Higher Educational Facilities Authority, Revenue

Bonds, University of the Sciences in Philadelphia, Series 2015A

.000

11/01/29

2,691,878

1,375,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Refunding Subordinate Third Series 2017

.000

12/01/40

1,396,252

3,755,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Subordinate Series 2015A-1

.250

12/01/45

3,758,506

5,000,000

Pennsylvania Turnpike Commission, Turnpike Revenue Bonds,

Subordinate Series 2017B-1

.000

06/01/42

5,056,002

200,000

Philadelphia Authority for Industrial Development Senior Living

Facilities, Philadelphia, Pennsylvania, Revenue Bonds, Wesley

Enhanced Living Obligated Group, Series 2017A

.000

07/01/31

202,273

500,000

Philadelphia Authority for Industrial Development Senior Living

Facilities, Philadelphia, Pennsylvania, Revenue Bonds, Wesley

Enhanced Living Obligated Group, Series 2017A

.000

07/01/32

504,703

1,585,000

Philadelphia Authority for Industrial Development Senior Living

Facilities, Philadelphia, Pennsylvania, Revenue Bonds, Wesley

Enhanced Living Obligated Group, Series 2017A

.000

07/01/37

1,585,560

1,500,000

Philadelphia Authority for Industrial Development Senior Living

Facilities, Philadelphia, Pennsylvania, Revenue Bonds, Wesley

Enhanced Living Obligated Group, Series 2017A

.000

07/01/42

1,424,116

7,000,000

Philadelphia Authority for Industrial Development Senior Living

Facilities, Philadelphia, Pennsylvania, Revenue Bonds, Wesley

Enhanced Living Obligated Group, Taxable Series 2017B

.250

07/01/31

6,759,535

275,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Charter School Revenue Bonds, Mast Community

Charter School II Project, Series 2020A

.000

08/01/30

286,322

515,000

Philadelphia Authority for Industrial Development,

Pennsylvania, Charter School Revenue Bonds, Philadelphia

Electrical & Technology Charter School, Series 2021A

.000

06/01/31

510,790

5,000,000

(d) Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Mariana Bracetti Academy

Project, Taxable Series 2020B

.125

12/15/44

4,634,272

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

6,130,000

Philadelphia, Pennsylvania, Airport Revenue Bonds, Refunding

Series 2017B, (AMT)

.000

%

07/01/47

$

6,130,729

875,000

Quakertown General Authority Health Facilities Revenue USDA

Loan Anticipation Notes and Revenue Bonds for LifeQuest

Obligated Group, Pennsylvania, Series 2017C

.300

07/01/42

765,938

5,000,000

Scranton-Lackawanna Health and Welfare Authority,

Pennsylvania, University Revenue Bonds, Marywood University,

Series 2016

.000

06/01/36

4,644,773

TOTAL PENNSYLVANIA

172,400,194

PUERTO RICO - 3.2%

10,500,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Forward Delivery Series 2022A

.000

07/01/33

10,977,973

200,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2020A

.000

07/01/35

206,106

275,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021A

.000

07/01/33

286,417

500,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021A

.000

07/01/37

515,214

4,365,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/33

4,546,220

334,000

(d) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/37

344,163

11,790,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Federally Taxable Build America Bonds, Series 2010YY

.125

07/01/40

7,211,953

1,100,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding National Series 2007VV

.500

01/01/26

654,782

835,000

Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding National Series 2007VV - NPFG Insured

.250

07/01/32

841,472

2,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding Series 2010DDD

.957

01/01/26

1,325

1,000,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding Series 2010DDD

.000

01/01/26

611,999

6,015,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding Series 2010DDD

.000

01/01/26

3,986,363

3,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding Series 2012A

.957

07/01/42

1,844

470,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2003NN

.500

01/01/26

281,257

200,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2007TT

.000

01/01/26

120,174

1,140,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2007TT

.000

01/01/26

697,679

6,205,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2007TT

.000

01/01/26

3,744,164

450,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2007TT

.000

01/01/26

270,391

2,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2007TT

.000

07/01/32

1,207

2,140,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/27

1,291,322

4,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/28

2,440

9,660,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/28

5,894,216

7,020,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/29

4,285,890

50,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010CCC

.000

01/01/26

30,713

1,995,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010CCC

.250

07/01/27

1,191,555

110,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010XX

.250

07/01/27

69,417

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PUERTO RICO

(continued)

$

1,145,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.250

%

01/01/26

$

682,102

18,275,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.250

01/01/26

10,970,466

350,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.000

07/01/26

210,305

1,260,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.250

07/01/26

748,534

1,090,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.000

07/01/28

658,208

45,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2013A

.050

01/01/26

27,727

8,375,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2013A

.800

07/01/29

5,674,062

3,000,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2013A

.000

07/01/29

1,820,553

500,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2016D-4-RSA-1

.500

01/01/26

282,528

2,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series WW

.375

01/01/26

1,213

6,135,000

(g) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Taxable Series 2010BBB

.400

07/01/28

3,733,774

635,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds,

Refunding Series 2005SS

.625

07/01/30

386,526

35,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/25

21,499

2,255,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/26

1,358,793

115,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/27

69,399

1,240,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/32

748,525

2,310,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/37

1,396,786

20,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.250

07/01/25

12,224

2,850,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.375

01/01/26

1,728,328

5,595,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.375

01/01/26

3,392,982

280,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.500

01/01/26

167,557

130,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.000

07/01/28

80,178

1,060,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.250

07/01/33

636,770

3,990,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.500

07/01/38

2,389,045

2,000,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010AAA

.250

07/01/25

1,194,018

975,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010AAA

.250

01/01/26

582,635

400,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.625

07/01/25

241,846

50,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.000

07/01/25

30,284

2,100,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.000

07/01/26

1,262,754

490,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.000

07/01/28

295,651

695,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010XX

.625

07/01/25

420,918

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PUERTO RICO

(continued)

$

1,000,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010ZZ

.250

%

07/01/25

$

597,627

4,320,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010ZZ

.250

01/01/26

2,630,229

730,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.000

07/01/33

423,474

3,415,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.750

07/01/36

1,988,405

6,875,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.000

07/01/42

4,225,987

745,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.000

07/01/43

432,176

2,460,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Taxable

Series 2010EEE

.950

07/01/30

1,666,650

3,220,000

(g) Puerto Rico Electric Power Authority, Revenue Bonds, Taxable

Series 2010EEE

.250

07/01/40

2,161,659

3,975,477

Puerto Rico Highway and Transportation Authority Highway

Revenue Bonds Series 2022

.250

07/01/38

3,976,387

13,253,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/27

12,536,674

419,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.750

07/01/53

394,348

3,500,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/58

3,383,076

5,000,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.784

07/01/58

4,649,426

12,845,621

Puerto Rico, General Obligation Bonds, Clawback Highway

Transportation Authority Claims Taxable Series 2022

.000

11/01/51

8,686,851

31,517,775

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/27

32,632,061

1,362,349

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/29

1,457,978

18,136,460

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

12,975,291

91,769

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/35

89,582

438,808

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/37

416,851

635,897

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/41

570,068

2,677,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/46

2,313,671

10,219,251

Puerto Rico, General Obligation Bonds, Vintage CW NT Claims

Taxable Series 2022

.000

11/01/43

6,770,254

275,000

University of Puerto Rico, University System Revenue Bonds,

Refunding Series 2006P

.000

06/01/30

271,787

TOTAL PUERTO RICO

194,542,958

RHODE ISLAND - 0.3%

8,010,000

Rhode Island Health and Educational Building Corporation,

Hospital Financing Revenue Bonds, Care New England Issue,

Refunding Series 2016B

.000

09/01/31

8,049,456

11,975,000

Rhode Island Health and Educational Building Corporation,

Hospital Financing Revenue Bonds, Care New England Issue,

Refunding Series 2016B

.000

09/01/36

11,980,204

TOTAL RHODE ISLAND

20,029,660

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SOUTH CAROLINA - 0.4%

$

405,000

(d),(i)

Goose Creek, South Carolina, Assessment Revenue Bonds,

Carnes Crossroads Improvement District, Series 2025

.000

%

10/01/35

$

413,190

1,000,000

(d) Richland County, South Carolina, Special Assessment Revenue

Bonds, Village at Sandhill Improvement District, Refunding

Series 2021

.625

11/01/31

903,056

1,265,000

(d) Richland County, South Carolina, Special Assessment Revenue

Bonds, Village at Sandhill Improvement District, Refunding

Series 2021

.750

11/01/36

1,042,417

3,505,000

(d) South Carolina Jobs-Economic Development Authority,

Economic Development Revenue Bonds, Hilton Head Christian

Academy, Series 2020

.000

01/01/40

3,227,060

500,000

(d) South Carolina Jobs-Economic Development Authority,

Economic Development Revenue Bonds, Palmetto Scholars

Academy Project, Series 2015A

.125

08/15/35

482,789

900,000

(d) South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, High Point Academy

Project, Series 2018A

.000

06/15/29

889,390

1,610,000

South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Mountain View

Preparatory Project, Series 2025A

.250

06/01/35

1,611,210

6,840,000

South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Mountain View

Preparatory Project, Series 2025A

.000

06/01/45

6,883,444

6,000,000

South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Mountain View

Preparatory Project, Series 2025A

.125

06/01/60

6,038,306

780,000

South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Mountain View

Preparatory Project, Taxable Series 2025B

.750

06/01/32

784,021

200,000

(d) South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Virtus Academy Project,

Series 2021A

.000

06/15/31

187,530

920,000

(d) South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Virtus Academy Project,

Series 2021A

.000

06/15/41

779,916

325,000

(d) South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Virtus Academy Project,

Series 2023A

.125

06/15/33

334,109

940,000

(d) South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Virtus Academy Project,

Series 2023A

.750

06/15/43

935,336

750,000

South Carolina Jobs-Economic Development Authority,

Healthcare Revenue Bonds, Beaufort Memorial Hospital &

South of Broad Healthcare Project, Series 2024

.250

11/15/39

790,007

125,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2016A

.000

12/01/28

126,828

TOTAL SOUTH CAROLINA

25,428,609

SOUTH DAKOTA - 0.1%

2,930,000

South Dakota Health and Educational Facilities Authority,

Revenue Bonds, Avera Health, Refunding Series 2017

.000

07/01/46

2,944,932

TOTAL SOUTH DAKOTA

2,944,932

TENNESSEE - 1.8%

3,135,000

(d) Bristol Industrial Development Board, Tennessee, State Sales

Tax Revenue Bonds, Pinnacle Project, Capital Appreciation

Series 2016B

.000

12/01/25

3,109,390

3,245,000

(d) Bristol Industrial Development Board, Tennessee, State Sales

Tax Revenue Bonds, Pinnacle Project, Capital Appreciation

Series 2016B

.000

12/01/26

3,060,249

8,810,000

(d) Bristol Industrial Development Board, Tennessee, State Sales

Tax Revenue Bonds, Pinnacle Project, Capital Appreciation

Series 2016B

.000

12/01/31

6,276,002

7,400,000

(d) Bristol Industrial Development Board, Tennessee, State Sales

Tax Revenue Bonds, Pinnacle Project, Series 2016A

.000

12/01/35

7,080,891

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TENNESSEE

(continued)

$

1,000,000

(d) Bristol Industrial Development Board, Tennessee, State Sales

Tax Revenue Bonds, Pinnacle Project, Series 2016A

.125

%

12/01/42

$

940,611

610,000

Bristol Industrial Development Board, Tennessee, Tax

Increment Revenue Bonds, Pinnacle Project, Series 2016

.000

06/01/27

593,800

17,000,000

(d) Kingsport Industrial Development Board, Tennessee, Exempt

Facility Revenue Bonds, Domtar Project, Series 2024, (AMT),

(Mandatory Put 11/15/29)

.250

12/01/54

17,279,038

1,190,000

Knox County Health, Educational and Housing Facilities Board,

Tennessee, Revenue Bonds, University Health System, Inc.,

Series 2017

.000

04/01/36

1,199,215

425,000

(g) Memphis/Shelby County Economic Development Growth

Engine Industrial Development Board, Tennessee, Tax

Increment Revenue Bonds, Graceland Project, Senior Series

2017A

.750

07/01/27

398,147

6,665,000

(d) Memphis-Shelby County Community Redevelopment Agency,

Tennessee, Revenue Notes Series 2016

.250

04/01/38

6,669,138

11,775,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University Medical Center, Series 2016A

.000

07/01/40

11,826,591

4,225,000

Metropolitan Nashville Airport Authority, Tennessee, Airport

Revenue Bonds, Improvement Series 2015B, (AMT)

.000

07/01/40

4,242,615

3,500,000

Metropolitan Nashville Airport Authority, Tennessee, Airport

Revenue Bonds, Improvement Series 2015B, (AMT)

.000

07/01/43

3,514,573

500,000

(d) Shelby County Health, Educational, Housing, and Facility

Board, Tennessee, Student Housing Revenue Bonds, Madrone

Memphis Student Housing, I LLC - University of Memphis

Project Series 2024A-1

.000

06/01/44

480,512

4,000,000

Tennergy Corporation, Tennessee, Gas Revenue Bonds, Series

2024A, (Mandatory Put 12/01/29)

.000

10/01/54

4,287,110

5,000,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Commodity Project, Series 2021A, (Mandatory Put

11/01/31)

.000

05/01/52

5,381,463

25,750,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006B

.625

09/01/26

26,163,308

7,185,000

The Tennessee Energy Acquisition Corporation, Gas Revenue

Bonds, Series 2006C

.000

02/01/27

7,320,684

TOTAL TENNESSEE

109,823,337

TEXAS - 10.9%

4,000,000

(d) Abilene Convention Center Hotel Development Corporation,

Texas, Hotel Revenue Bonds, Second-Lien Series 2021B

.000

10/01/50

3,532,710

595,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Hurricane

Creek Public Improvement District Area 1 Project, Series 2019

.750

09/01/29

620,881

1,000,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Hurricane

Creek Public Improvement District Area 2 Project, Series 2022

.750

09/01/42

1,031,164

295,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Hurricane

Creek Public Improvement District Major Improvement Area

Project, Series 2019

.000

09/01/29

309,445

405,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Meadow

Vista Public Improvement District Area 1 Project, Series 2024

.875

09/15/31

410,710

850,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Meadow

Vista Public Improvement District Area 1 Project, Series 2024

.500

09/15/44

841,497

97,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Sherley Tract

Public Improvement District 2 Area 1 Project, Series 2021

.250

09/15/26

96,458

500,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Sherley Tract

Public Improvement District 2 Area 1 Project, Series 2021

.750

09/15/31

485,037

250,000

(d) Anna, Texas, Special Assessment Revenue Bonds, Sherley Tract

Public Improvement District 2 Area 1 Project, Series 2021

.000

09/15/41

215,881

318,000

Anna, Texas, Special Assessment Revenue Bonds, The Woods

and Lindsey Place Public Improvement District Area 1 Project,

Series 2023

.875

09/15/30

325,512

900,000

Anna, Texas, Special Assessment Revenue Bonds, The Woods

and Lindsey Place Public Improvement District Area 1 Project,

Series 2023

.625

09/15/43

916,047

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

130,000

Argyle, Texas, Special Assessment Revenue Bonds, Highlands

of Argyle Public Improvement District 1 Project, Series 2017

.250

%

09/01/27

$

130,834

645,000

(d) Argyle, Texas, Special Assessment Revenue Bonds, Waterbrook

of Argyle Public Improvement District Project, Series 2018

.625

09/01/28

654,059

2,000,000

Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Great Hearts America - Texas, Series

2024A

.250

08/15/34

2,004,271

1,250,000

Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Great Hearts America - Texas, Series

2024A

.500

08/15/39

1,227,014

1,300,000

Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Great Hearts America - Texas, Series

2024A

.750

08/15/44

1,225,755

1,230,000

Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Legacy Traditional Schools - Texas

Project, Refunding Series 2021A

.000

02/15/31

1,169,813

2,610,000

Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Legacy Traditional Schools - Texas

Project, Refunding Series 2021A

.125

02/15/41

2,078,701

630,000

(d) Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Legacy Traditional Schools - Texas

Project, Refunding Series 2022A

.000

02/15/32

627,537

2,500,000

(d) Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Legacy Traditional Schools - Texas

Project, Refunding Series 2022A

.000

02/15/42

2,415,574

1,245,000

(d) Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Magellan International School,

Series 2022

.500

06/01/32

1,296,378

5,085,000

(d) Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Magellan International School,

Series 2022

.000

06/01/42

5,142,116

380,000

Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, UME Preparatory Academy, Taxable

Series 2017A

.550

08/15/28

381,356

400,000

(d) Aubrey, Denton County, Texas, Special Assessment Revenue

Bonds, Duck Point Public Improvement District, Series 2025

.375

12/31/30

401,695

550,000

(d) Aubrey, Denton County, Texas, Special Assessment Revenue

Bonds, Duck Point Public Improvement District, Series 2025

.625

12/31/35

551,964

685,000

(d) Aubrey, Denton County, Texas, Special Assessment Revenue

Bonds, Duck Point Public Improvement District, Series 2025

.375

12/31/45

666,609

114,000

(d) Aubrey, Denton County, Texas, Special Assessment Revenue

Bonds, Jackson Ridge Public Improvement District Phases 3A

Project, Series 2021

.500

09/01/26

112,622

622,000

(d) Aubrey, Denton County, Texas, Special Assessment Revenue

Bonds, Jackson Ridge Public Improvement District Phases 3A

Project, Series 2021

.000

09/01/31

582,030

335,000

(d) Aubrey, Denton County, Texas, Special Assessment Revenue

Bonds, Winn Ridge South Public Improvement District Project,

Series 2017

.500

09/01/27

342,337

165,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/30

166,805

1,800,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/31

1,818,737

1,700,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/32

1,715,158

985,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/33

992,289

580,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding First Tier Series 2017A

.000

01/01/34

583,404

1,680,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding Second Tier Series 2017B

.000

01/01/27

1,692,940

990,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding Second Tier Series 2017B

.000

01/01/28

998,611

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,445,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding Second Tier Series 2017B

.000

%

01/01/29

$

1,457,770

880,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding Second Tier Series 2017B

.000

01/01/30

887,487

1,985,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding Second Tier Series 2017B

.000

01/01/32

1,997,887

1,525,000

Austin Convention Enterprises Inc., Texas, Convention Center

Hotel Revenue Bonds, Refunding Second Tier Series 2017B

.000

01/01/34

1,530,270

6,500,000

Austin, Texas, Airport System Revenue Bonds, Series 2017B,

(AMT)

.000

11/15/46

6,500,549

275,000

(d) Austin, Travis, Williamson and Hays Counties, Texas,

Special Assessment Revenue Bonds, Whisper Valley Public

Improvement District Improvement Area 1, Series 2019

.000

11/01/29

275,548

800,000

(d) Austin, Travis, Williamson and Hays Counties, Texas,

Special Assessment Revenue Bonds, Whisper Valley Public

Improvement District Improvement Area 2, Series 2022

.375

11/01/42

805,054

378,000

(d) Balch Springs, Texas, Special Assessment Revenue Bonds,

Public Improvement District 1 Project, Series 2025

.625

09/15/32

387,452

750,000

(d) Balch Springs, Texas, Special Assessment Revenue Bonds,

Public Improvement District 1 Project, Series 2025

.625

09/15/45

764,538

250,000

(d) Bastrop County, Texas, Special Assessment Revenue Bonds,

Double Eagle Ranch Public Improvement District Improvement

Area 2 Project Series 2024

.500

09/01/31

254,842

610,000

(d) Bastrop County, Texas, Special Assessment Revenue Bonds,

Double Eagle Ranch Public Improvement District Improvement

Area 2 Project Series 2024

.250

09/01/44

599,741

500,000

(d) Bastrop, Texas, Special Assessment Revenue Bonds, Valverde

Public Improvement District Improvement Area 1, Series 2025

.250

09/01/30

506,331

630,000

(d) Bastrop, Texas, Special Assessment Revenue Bonds, Valverde

Public Improvement District Improvement Area 1, Series 2025

.625

09/01/35

641,067

625,000

(d) Bastrop, Texas, Special Assessment Revenue Bonds, Valverde

Public Improvement District Improvement Area 1, Series 2025

.375

09/01/45

623,032

785,000

Baytown Municipal Development District, Texas, Hotel Revenue

Bonds, Baytown Convention Center Hotel, First-Lien Series

2021A

.500

10/01/31

700,902

97,000

(d) Bee Cave, Travis County, Texas, Special Assessment Revenue

Bonds, Backyard Public Improvement District Project, Series

2021

.125

09/01/26

97,233

565,000

(d) Bee Cave, Travis County, Texas, Special Assessment Revenue

Bonds, Backyard Public Improvement District Project, Series

2021

.750

09/01/31

557,564

1,645,000

(d) Bee Cave, Travis County, Texas, Special Assessment Revenue

Bonds, Backyard Public Improvement District Project, Series

2021

.000

09/01/41

1,541,953

350,000

(d) Blue Ridge, Collin County, Texas, Special Assessment Revenue

Binds, Blue Ridge Crossing Public Improvement District Project,

Series 2025

.500

09/15/32

356,312

575,000

(d) Blue Ridge, Collin County, Texas, Special Assessment Revenue

Binds, Blue Ridge Crossing Public Improvement District Project,

Series 2025

.625

09/15/45

583,168

303,000

(d) Boyd Public Improvement District 1, Texas, Special Assessment

Revenue Bonds, Improvement Area 1 Project Series 2024

.250

09/15/30

307,635

1,010,000

(d) Boyd Public Improvement District 1, Texas, Special Assessment

Revenue Bonds, Improvement Area 1 Project Series 2024

.125

09/15/43

996,368

661,000

(d) Boyd Public Improvement District 1, Texas, Special Assessment

Revenue Bonds, Improvement Area 1 Project Series 2025

.500

09/15/32

673,941

800,000

(d) Boyd Public Improvement District 1, Texas, Special Assessment

Revenue Bonds, Improvement Area 1 Project Series 2025

.625

09/15/45

814,469

835,000

(d) Buda, Texas, Special Assessment Revenue Bonds, Persimmon

Public improvement District Improvement Area 1 Project,

Series 2025

.875

09/01/45

820,953

1,000,000

(d) Buda, Texas, Special Assessment Revenue Bonds, Persimmon

Public improvement District Major Improvement Area Project,

Series 2025

.750

09/01/33

1,008,863

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

2,200,000

(d) Buda, Texas, Special Assessment Revenue Bonds, Persimmon

Public improvement District Major Improvement Area Project,

Series 2025

.625

%

09/01/45

$

2,165,083

130,000

Caddo Mills Municipal Management District No. 1, Texas,

General Obligation Bonds, Tax Road Series 2021

.000

09/01/27

124,907

135,000

Caddo Mills Municipal Management District No. 1, Texas,

General Obligation Bonds, Tax Road Series 2021

.000

09/01/28

127,456

140,000

Caddo Mills Municipal Management District No. 1, Texas,

General Obligation Bonds, Tax Road Series 2021

.125

09/01/29

130,623

145,000

Caddo Mills Municipal Management District No. 1, Texas,

General Obligation Bonds, Tax Road Series 2021

.250

09/01/30

134,147

150,000

Caddo Mills Municipal Management District No. 1, Texas,

General Obligation Bonds, Tax Road Series 2021

.250

09/01/31

135,916

315,000

Caddo Mills Municipal Management District No. 1, Texas,

General Obligation Bonds, Tax Road Series 2021

.250

09/01/33

271,407

335,000

Caddo Mills Municipal Management District No. 1, Texas,

General Obligation Bonds, Tax Road Series 2021

.500

09/01/35

279,702

540,000

Caddo Mills Municipal Management District No. 1, Texas,

General Obligation Bonds, Tax Road Series 2021

.500

09/01/38

414,751

595,000

Caddo Mills Municipal Management District No. 1, Texas,

General Obligation Bonds, Tax Road Series 2021

.750

09/01/41

434,590

670,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Cambridge

Crossing Public Improvement District Phase 1 Project, Series

2018

.625

09/01/28

679,437

880,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Cambridge

Crossing Public Improvement District Phases 2-7 Major

Improvement Project, Series 2018

.000

09/01/28

898,525

137,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Celina Hills

Public Improvement District Project, Series 2022

.375

09/01/27

137,001

430,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Celina Hills

Public Improvement District Project, Series 2022

.625

09/01/32

431,166

195,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Celina

Sutton Fields II Public Improvement District Neighborhood

Improvement Areas 2-3 Project, Series 2019

.125

09/01/39

179,228

50,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Creeks of

Legacy Public Improvement District Phase 2 Project, Series

2018

.125

09/01/28

51,129

1,630,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Cross Creek

Meadows Public Improvement District, Improvement Area 1

District Series 2023

.375

09/01/43

1,630,685

50,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Edgewood

Creek Public Improvement District Phase 1 Project, Series 2021

.250

09/01/26

49,730

200,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Edgewood

Creek Public Improvement District Phase 1 Project, Series 2021

.750

09/01/31

189,101

175,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Edgewood

Creek Public Improvement District Phase 2-3 Major

Improvement Project, Series 2021

.750

09/01/31

175,001

50,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Edgewood

Creek Public Improvement District Phase 2-3 Major

Improvement Project, Series 2021

.250

09/01/41

50,176

95,000

Celina, Texas, Special Assessment Revenue Bonds, Glen

Crossing Public Improvement District Phase 1 Project, Series

2016

.200

09/01/27

95,292

130,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Glen

Crossing Public Improvement District Phase 1B, Series 2018

.750

09/01/28

132,134

225,000

Celina, Texas, Special Assessment Revenue Bonds, Glen

Crossing Public Improvement District Project, Series 2018

.000

09/01/28

229,730

125,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Hillside

Village Public Improvement District Project, Series 2022

.750

09/01/27

121,196

350,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Hillside

Village Public Improvement District Project, Series 2022

.125

09/01/32

308,553

875,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Hillside

Village Public Improvement District Project, Series 2022

.375

09/01/42

663,355

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

350,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Lakes at

Mustang Ranch Public Improvement District Phase 8-9 Project,

Series 2025

.625

%

09/01/32

$

354,924

450,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Lakes at

Mustang Ranch Public Improvement District Phase 8-9 Project,

Series 2025

.500

09/01/45

448,327

306,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Mosaic

Public Improvement District Phase 1 Project, Series 2023

.375

09/01/30

309,913

1,225,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Mosaic

Public Improvement District Phase 1 Project, Series 2023

.125

09/01/43

1,189,632

150,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Mosaic

Public Improvement District Phase 1B Project, Series 2024

.375

09/01/31

151,699

200,000

Celina, Texas, Special Assessment Revenue Bonds, North Sky

Public Improvement District Improvement Area 1B Project,

Series 2024

.250

09/01/31

196,617

650,000

Celina, Texas, Special Assessment Revenue Bonds, North Sky

Public Improvement District Improvement Area 1B Project,

Series 2024

.000

09/01/44

611,140

845,000

Celina, Texas, Special Assessment Revenue Bonds, Ownsby

Farms Public Improvement District Phase 1 Project, Series 2017

.750

09/01/32

863,940

308,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Ownsby

Farms Public Improvement District Phase 2 Direct Improvement

Project, Series 2022

.000

09/01/32

298,680

355,000

Celina, Texas, Special Assessment Revenue Bonds, Ownsby

Farms Public Improvement District Phase 2 Major Improvement

Project, Series 2017

.125

09/01/32

362,301

450,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Parvin

Public Improvement District Project, Series 2023

.750

09/01/30

471,406

1,700,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Parvin

Public Improvement District Project, Series 2023

.500

09/01/43

1,694,956

136,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Sutton

Fields East Public Improvement District Phase 1 Project, Series

2022

.250

09/01/27

132,975

350,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Sutton

Fields East Public Improvement District Phase 1 Project, Series

2022

.625

09/01/32

321,489

300,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Sutton

Fields East Public Improvement District Phase 2 Project, Series

2025

.350

09/01/30

303,172

400,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Sutton

Fields East Public Improvement District Phase 2 Project, Series

2025

.600

09/01/35

402,404

600,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Sutton

Fields East Public Improvement District Phase 2 Project, Series

2025

.375

09/01/45

588,784

100,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Sutton

Fields II Public Improvement District Neighborhood

Improvement Area 5 Project, Series 2022

.875

09/01/27

97,184

250,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Sutton

Fields II Public Improvement District Neighborhood

Improvement Area 5 Project, Series 2022

.250

09/01/32

227,777

1,175,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Sutton

Fields II Public Improvement District Neighborhood

Improvement Area 5 Project, Series 2022

.500

09/01/42

953,537

75,000

(d) Celina, Texas, Special Assessment Revenue Bonds, The Parks

at Wilson Creek Public Improvement District Initial Major

Improvement Project, Series 2021

.500

09/01/26

74,589

500,000

(d) Celina, Texas, Special Assessment Revenue Bonds, The Parks

at Wilson Creek Public Improvement District Initial Major

Improvement Project, Series 2021

.000

09/01/31

486,896

50,000

(d) Celina, Texas, Special Assessment Revenue Bonds, The Parks

at Wilson Creek Public Improvement District Phase 1 Project,

Series 2021

.750

09/01/26

49,441

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

400,000

(d) Celina, Texas, Special Assessment Revenue Bonds, The Parks

at Wilson Creek Public Improvement District Phase 1 Project,

Series 2021

.250

%

09/01/31

$

375,877

50,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells North

Public Improvement District Neighborhood Improvement Area

1 Project, Series 2016

.375

09/01/26

50,108

100,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells North

Public Improvement District Neighborhood Improvement Area

1 Project, Series 2016

.000

09/01/36

100,348

46,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells South

Public Improvement District Neighborhood Improvement Area

4 Project, Series 2021

.500

09/01/26

45,444

175,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells South

Public Improvement District Neighborhood Improvement Area

4 Project, Series 2021

.000

09/01/31

160,901

500,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells South

Public Improvement District Neighborhood Improvement Area

4 Project, Series 2021

.375

09/01/41

405,345

88,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells South

Public Improvement District Neighborhood Improvement Area

5 Project, Series 2022

.500

09/01/27

88,430

255,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells South

Public Improvement District Neighborhood Improvement Area

5 Project, Series 2022

.875

09/01/32

264,172

145,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells South

Public Improvement District Neighborhood Improvement Area

6-7 Project, Series 2024

.625

09/01/31

147,750

475,000

(d) Celina, Texas, Special Assessment Revenue Bonds, Wells South

Public Improvement District Neighborhood Improvement Area

6-7 Project, Series 2024

.500

09/01/44

477,891

195,000

(d) City of Midlothian, Texas, Westside Preserve Public

Improvement District Improvement Area #1 Project Special

Assessment Revenue Bonds Series 2022

.375

09/15/27

195,421

405,000

(d) City of Midlothian, Texas, Westside Preserve Public

Improvement District Improvement Area #1 Project Special

Assessment Revenue Bonds Series 2022

.750

09/15/32

411,182

1,050,000

(d) City of Midlothian, Texas, Westside Preserve Public

Improvement District Improvement Area #1 Project Special

Assessment Revenue Bonds Series 2022

.250

09/15/42

1,048,524

208,000

(d) City Of Midlothian, Texas, Westside Preserve Public

Improvement Major Improvement Area Project Special

Assessment Revenue Bonds Series 2022

.125

09/15/27

208,884

310,000

(d) City Of Midlothian, Texas, Westside Preserve Public

Improvement Major Improvement Area Project Special

Assessment Revenue Bonds Series 2022

.500

09/15/32

312,310

750,000

(d) City Of Midlothian, Texas, Westside Preserve Public

Improvement Major Improvement Area Project Special

Assessment Revenue Bonds Series 2022

.000

09/15/42

749,784

500,000

City of Shenandoah, Montgomery County, Texas, Special

Assessment Revenue Bonds, Metropark Public Improvement

District, Series 2018

.000

09/01/28

510,556

1,000,000

City of Shenandoah, Montgomery County, Texas, Special

Assessment Revenue Bonds, Metropark Public Improvement

District, Series 2018

.600

09/01/38

1,016,415

6,400,000

(d) Clifton Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Valor Education Foundation, Series

2023A

.750

06/15/38

6,403,859

5,000,000

(d) Clifton Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Valor Education Foundation, Series

2023A

.000

06/15/43

4,873,351

325,000

(d) Clifton Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Valor Education Foundation, Series

2024A

.000

06/15/34

319,013

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

275,000

(d) Clifton Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Valor Education Foundation, Series

2024A

.750

%

06/15/44

$

258,054

290,000

Club Municipal Management District 1, Texas, Special

Assessment Revenue Bonds, Improvement Area 1 Project,

Series 2016

.750

09/01/28

295,495

51,000

(d) Club Municipal Management District 1, Texas, Special

Assessment Revenue Bonds, Improvement Area 2 Project,

Series 2021

.500

09/01/26

50,384

475,000

(d) Club Municipal Management District 1, Texas, Special

Assessment Revenue Bonds, Improvement Area 2 Project,

Series 2021

.000

09/01/31

436,963

1,050,000

(d) Club Municipal Management District 1, Texas, Special

Assessment Revenue Bonds, Improvement Area 2 Project,

Series 2021

.250

09/01/41

810,052

1,050,000

(d) Club Municipal Management District 1, Texas, Special

Assessment Revenue Bonds, Improvement Area 3 Project,

Series 2024

.100

09/01/44

1,028,432

100,000

Comal County Meyer Ranch Municipal Utility District, Texas,

General Obligation Bonds, Road Series 2021

.250

08/15/29

93,428

105,000

Comal County Meyer Ranch Municipal Utility District, Texas,

General Obligation Bonds, Road Series 2021

.250

08/15/30

95,120

105,000

Comal County Meyer Ranch Municipal Utility District, Texas,

General Obligation Bonds, Road Series 2021

.375

08/15/31

93,638

225,000

Comal County Meyer Ranch Municipal Utility District, Texas,

General Obligation Bonds, Road Series 2021

.500

08/15/33

191,948

240,000

Comal County Meyer Ranch Municipal Utility District, Texas,

General Obligation Bonds, Road Series 2021

.500

08/15/35

193,304

255,000

Comal County Meyer Ranch Municipal Utility District, Texas,

General Obligation Bonds, Road Series 2021

.500

08/15/37

193,236

565,000

Comal County Meyer Ranch Municipal Utility District, Texas,

General Obligation Bonds, Road Series 2021

.750

08/15/41

391,101

90,000

Comal County, Texas, Special Assessment Revenue Bonds,

Crossings Public Improvement District, Series 2017

.000

09/01/27

90,107

650,000

Conroe Local Government Corporation, Texas, Hotel Revenue

and Contract Revenue Bonds, Subordinate Third Lien Series

2021C

.000

10/01/41

611,352

700,000

Conroe Local Government Corporation, Texas, Hotel Revenue

and Contract Revenue Bonds, Subordinate Third Lien Series

2021C

.000

10/01/46

630,405

915,000

Conroe Local Government Corporation, Texas, Hotel Revenue

Bonds, Conroe Convention Center Hotel, First-Lien Series

2021A

.500

10/01/31

816,975

1,945,000

Conroe Local Government Corporation, Texas, Hotel Revenue

Bonds, Conroe Convention Center Hotel, Second-Lien Series

2021B

.500

10/01/31

1,679,788

6,545,000

Conroe Local Government Corporation, Texas, Hotel Revenue

Bonds, Conroe Convention Center Hotel, Second-Lien Series

2021B

.000

10/01/50

4,978,881

586,000

(d) Corpus Christi, Nueces, Aransas, San Patricio, ad Kleberg

Counties, Texas, Special Assessment Revenue Bonds, Whitecap

Public Improvement District 1 Improvement Area 1 Project

Series 2024

.375

09/15/31

609,782

50,000

(d) Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, Cartwright Ranch Public Improvement District Major

Improvement Area Project, Series 2021

.125

09/15/26

50,127

260,000

(d) Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, Cartwright Ranch Public Improvement District Major

Improvement Area Project, Series 2021

.750

09/15/31

263,095

96,000

(d) Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, Crandall Carwright Ranch Public Improvement District

Improvement Area 1 Project, Series 2021

.375

09/15/26

95,575

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

205,000

(d) Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, Crandall Carwright Ranch Public Improvement District

Improvement Area 1 Project, Series 2021

.000

%

09/15/31

$

205,111

264,000

(d) Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, River Ridge Public Improvement District Improvement

Area 1 Project, Series 2022

.375

09/15/27

267,993

530,000

(d) Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, River Ridge Public Improvement District Improvement

Area 1 Project, Series 2022

.500

09/15/32

553,519

350,000

Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, River Ridge Public Improvement District Improvement

Area 2 Project, Series 2025

.250

09/15/30

352,750

425,000

Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, River Ridge Public Improvement District Improvement

Area 2 Project, Series 2025

.500

09/15/35

425,827

500,000

Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, River Ridge Public Improvement District Improvement

Area 2 Project, Series 2025

.250

09/15/45

487,171

224,000

(d) Crandall, Kaufman County, Texas, Special Assessment Revenue

Bonds, River Ridge Public Improvement District Single Family

Residential, Major Improvement Area Project, Series 2022

.125

09/15/32

236,381

400,000

(d) Decatur, Texas, Special Assessment Revenue Bonds, Paloma

Trails Public Improvement District Improvement Area 1 Project,

Series 2025

.500

09/15/30

403,021

400,000

(d) Decatur, Texas, Special Assessment Revenue Bonds, Paloma

Trails Public Improvement District Improvement Area 1 Project,

Series 2025

.750

09/15/35

401,936

700,000

(d) Decatur, Texas, Special Assessment Revenue Bonds, Paloma

Trails Public Improvement District Improvement Area 1 Project,

Series 2025

.500

09/15/45

684,031

200,000

(d) Decatur, Texas, Special Assessment Revenue Bonds, Paloma

Trails Public Improvement District Major Improvement Area

Project, Series 2025

.375

09/15/35

200,490

850,000

(d) Denton County, Texas, Special Assessment Revenue

Bonds, Green Meadows Public Improvement District Major

Improvement Area Project, Series 2025

.750

12/31/30

858,153

1,250,000

(d) Denton County, Texas, Special Assessment Revenue

Bonds, Green Meadows Public Improvement District Major

Improvement Area Project, Series 2025

.000

12/31/35

1,279,738

500,000

(d) Denton County, Texas, Special Assessment Revenue

Bonds, Green Meadows Public Improvement District Major

Improvement Area Project, Series 2025

.875

12/31/45

509,876

750,000

(d) Denton County, Texas, Special Assessment Revenue Bonds,

Green Meadows Public Improvement District, Improvement

Area 1 Project, Series 2025

.250

12/31/30

757,263

1,250,000

(d) Denton County, Texas, Special Assessment Revenue Bonds,

Green Meadows Public Improvement District, Improvement

Area 1 Project, Series 2025

.500

12/31/35

1,279,436

500,000

(d) Denton County, Texas, Special Assessment Revenue Bonds,

Green Meadows Public Improvement District, Improvement

Area 1 Project, Series 2025

.375

12/31/45

510,925

1,250,000

(d) Denton County, Texas, Special Assessment Revenue Bonds,

Tabor Ranch Public Improvement District Improvement Area 1

Project, Senior Lien Series 2024A

.250

12/31/44

1,220,222

350,000

(d) Dorchester, Texas, Special Assessment Revenue Bonds,

Cottonwood Public Improvement District Improvement Area 1

Project Series 2024

.250

09/15/31

350,719

235,000

East Fort Bend County Development Authority, Texas, Contract

Revenue Bonds, Water Sewer and Drain Facilities, Series 2022

.000

09/01/26

236,912

245,000

East Fort Bend County Development Authority, Texas, Contract

Revenue Bonds, Water Sewer and Drain Facilities, Series 2022

.000

09/01/27

249,231

255,000

East Fort Bend County Development Authority, Texas, Contract

Revenue Bonds, Water Sewer and Drain Facilities, Series 2022

.000

09/01/28

261,245

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

265,000

East Fort Bend County Development Authority, Texas, Contract

Revenue Bonds, Water Sewer and Drain Facilities, Series 2022

.000

%

09/01/29

$

270,923

280,000

East Fort Bend County Development Authority, Texas, Contract

Revenue Bonds, Water Sewer and Drain Facilities, Series 2022

.000

09/01/30

285,927

290,000

East Fort Bend County Development Authority, Texas, Contract

Revenue Bonds, Water Sewer and Drain Facilities, Series 2022

.000

09/01/31

295,586

305,000

East Fort Bend County Development Authority, Texas, Contract

Revenue Bonds, Water Sewer and Drain Facilities, Series 2022

.000

09/01/32

309,999

3,078,000

(d) East Waller County Management District, Texas, Special

Assessment Revenue Bonds, Sofi Lakes Sections 1 and 2

Project, Series 2025

.000

09/15/35

3,126,380

2,300,000

(d) East Waller County Management District, Texas, Special

Assessment Revenue Bonds, Sofi Lakes Sections 1 and 2

Project, Series 2025

.000

09/15/45

2,333,912

486,000

(i) Elmendorf, Texas, Special Assessment Revenue Bonds, Hickory

Ridge Public Improvement District Improvement Area 2, Series

2025

.500

09/01/30

483,666

300,000

(d) Fate City, Rockwall County, Texas, Special Assessment Revenue

Bonds, Williamsburg East Public Improvement District

Improvement Area 2 Project, Series 2022

.875

08/15/27

301,583

778,000

(d) Fate City, Rockwall County, Texas, Special Assessment Revenue

Bonds, Williamsburg East Public Improvement District

Improvement Area 2 Project, Series 2022

.250

08/15/32

811,949

1,630,000

(d) Fate City, Rockwall County, Texas, Special Assessment Revenue

Bonds, Williamsburg East Public Improvement District

Improvement Area 2 Project, Series 2022

.875

08/15/42

1,623,669

469,000

(d) Fate, Rockwall County, Texas, Special Assessment Revenue

Bonds, Monterra Public Improvement District Improvement

Area 2, Series 2024

.500

08/15/31

470,466

1,000,000

(d) Fate, Rockwall County, Texas, Special Assessment Revenue

Bonds, Monterra Public Improvement District Improvement

Area 2, Series 2024

.375

08/15/44

975,179

124,000

(d) Fate, Rockwall County, Texas, Special Assessment Revenue

Bonds, Williamsburg Public Improvement District 1 Phase 2A &

3A2, Series 2022

.750

08/15/27

124,038

587,000

(d) Fate, Rockwall County, Texas, Special Assessment Revenue

Bonds, Williamsburg Public Improvement District 1 Phase 2A &

3A2, Series 2022

.000

08/15/32

586,700

430,000

(d) Fate, Rockwall County, Texas, Special Assessment Revenue

Bonds, Williamsburg Public Improvement District 1 Phase 2B,

2C & 3A1, Series 2019

.500

08/15/29

418,224

110,000

(d) Fate, Rockwall County, Texas, Special Assessment Revenue

Bonds, Williamsburg Public Improvement District 1 Phase 2B,

2C & 3A1, Series 2019

.000

08/15/39

100,114

150,000

(d) Flower Mound, Texas, Special Assessment Revenue Bonds,

River Walk Public Improvement District 1, Refunding Series

2021

.625

09/01/26

148,354

1,320,000

(d) Flower Mound, Texas, Special Assessment Revenue Bonds,

River Walk Public Improvement District 1, Refunding Series

2021

.250

09/01/31

1,259,612

690,000

Fort Worth, Tarrant, Denton, Parker, Johnson, and Wise

Counties, Texas, Special Assessment Revenue Bonds,

Public Improvement District 16, Walsh Ranch/Quail Valley,

Improvement Area 1-3 Project Series 2024 - BAM Insured

.000

09/01/36

695,610

1,070,000

Fort Worth, Tarrant, Denton, Parker, Johnson, and Wise

Counties, Texas, Special Assessment Revenue Bonds,

Public Improvement District 16, Walsh Ranch/Quail Valley,

Improvement Area 1-3 Project Series 2024 - BAM Insured

.125

09/01/39

1,069,971

1,170,000

Fort Worth, Tarrant, Denton, Parker, Johnson, and Wise

Counties, Texas, Special Assessment Revenue Bonds,

Public Improvement District 16, Walsh Ranch/Quail Valley,

Improvement Area 1-3 Project Series 2024 - BAM Insured

.250

09/01/41

1,160,695

249,000

(d) Georgetown, Texas, Special Assessment Revenue Bonds, Parks

at Westhaven Public Improvement District Project, Series 2022

.625

09/15/27

246,562

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

415,000

(d) Georgetown, Texas, Special Assessment Revenue Bonds, Parks

at Westhaven Public Improvement District Project, Series 2022

.875

%

09/15/32

$

397,750

1,250,000

(d) Georgetown, Texas, Special Assessment Revenue Bonds, Parks

at Westhaven Public Improvement District Project, Series 2022

.125

09/15/42

1,098,183

380,000

(d) Granbury, Hood County, Texas, Special Assessment Revenue

Bonds, Lakeview Landing Public Improvement District Project,

Series 2025

.250

09/15/30

390,095

635,000

(d) Granbury, Hood County, Texas, Special Assessment Revenue

Bonds, Lakeview Landing Public Improvement District Project,

Series 2025

.500

09/15/35

655,192

21,360,000

Greater Texas Cultural Educational Facilities Finance

Corporation, Texas, Revenue Bonds, Biomedical Research

Institute Series 2024A

.250

06/01/49

20,227,621

785,000

Gulf Coast Industrial Development Authority, Texas, Solid

Waste Disposal Revenue Bonds, Citgo Petroleum Corporation

Project, Series 1998, (AMT)

.000

04/01/28

786,147

385,000

(d) Gunter, Grayson County, Texas, Special Assessment Revenue

Bonds, Bridges Phase 2A Public Improvement District, Series

2025

.500

09/15/32

388,596

800,000

(d) Gunter, Grayson County, Texas, Special Assessment Revenue

Bonds, Bridges Phase 2A Public Improvement District, Series

2025

.500

09/15/45

779,889

335,000

Hackberry, Texas, Combination Special Assessment and

Contract Revenue Road and Utility Bonds, Hidden Cove

Improvement District 2, Series 2017

.000

09/01/27

338,589

255,000

Hackberry, Texas, Special Assessment Revenue Bonds,

Hackberry Public Improvement District 3 Phase 13-16 Project,

Refunding & Improvement Series 2017

.500

09/01/27

257,231

310,000

Hackberry, Texas, Special Assessment Revenue Bonds,

Rivendale by the Lake Public Improvement District 2 Phases

4-6, Series 2017

.125

09/01/27

311,241

895,000

Harris County Cultural Education Facilities Finance

Corporation, Texas, Revenue Refunding Bonds, Young Men's

Christian Association of the Greater Houston Area, Series

2013A

.000

06/01/28

893,272

100,000

Harris County Municipal Utility District 213A, Texas, General

Obligation Bonds, Series 2021

.000

04/01/27

96,628

100,000

Harris County Municipal Utility District 213A, Texas, General

Obligation Bonds, Series 2021

.000

04/01/28

94,614

100,000

Harris County Municipal Utility District 213A, Texas, General

Obligation Bonds, Series 2021

.250

04/01/29

93,554

100,000

Harris County Municipal Utility District 213A, Texas, General

Obligation Bonds, Series 2021

.250

04/01/30

91,798

100,000

Harris County Municipal Utility District 213A, Texas, General

Obligation Bonds, Series 2021

.375

04/01/31

90,336

250,000

Harris County Municipal Utility District 213A, Texas, General

Obligation Bonds, Series 2021

.500

04/01/33

215,513

250,000

Harris County Municipal Utility District 213A, Texas, General

Obligation Bonds, Series 2021

.500

04/01/35

203,300

300,000

Harris County Municipal Utility District 213A, Texas, General

Obligation Bonds, Series 2021

.500

04/01/37

230,140

300,000

Harris County Municipal Utility District 213A, Texas, General

Obligation Bonds, Series 2021

.750

04/01/39

224,569

325,000

Harris County Municipal Utility District 213A, Texas, General

Obligation Bonds, Series 2021

.000

04/01/41

235,345

316,000

(d) Haslett, Texas, Special Assessment Revenue Bonds, Haslet

Public Improvement District 5 Improvement Area 1 Project,

Series 2019

.625

09/01/29

308,079

150,000

(d) Haslett, Texas, Special Assessment Revenue Bonds, Haslet

Public Improvement District 5 Improvement Area 1 Project,

Series 2019

.125

09/01/39

137,442

635,000

Hays County, Texas, Special Assessment Revenue Bonds, La

Cima Public Improvement District Major Public Improvement

Project, Series 2015

.250

09/15/27

635,460

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

3,010,000

Hemphill County Hospital District, Texas, General Obligation

Bonds, Series 2019

.250

%

02/01/32

$

3,074,075

385,000

(d) Heritage Public Improvement District 2, Dripping Springs,

Texas, Special Assessment Revenue Bonds, Series 2023

.250

09/01/31

385,508

650,000

(d) Heritage Public Improvement District 2, Dripping Springs,

Texas, Special Assessment Revenue Bonds, Series 2023

.000

09/01/44

615,523

1,075,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, Continental Airlines Inc. - Terminal Improvement

Project, Refunding Series 2011, (AMT)

.500

07/15/30

1,078,215

2,000,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, Continental Airlines Inc. - Terminal Improvement

Project, Refunding Series 2011, (AMT)

.625

07/15/38

2,005,221

240,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines Inc. Terminal Improvement Project,

Refunding Series 2015B-1, (AMT)

.000

07/15/35

240,070

1,965,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Technical Operations Center

Project, Series 2018, (AMT)

.000

07/15/28

2,014,663

1,000,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal E Project, Series 2021A,

(AMT)

.000

07/01/41

909,229

32,545,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.250

07/15/33

34,899,556

20,570,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.250

07/15/34

22,043,406

19,625,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/35

21,568,882

9,500,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/36

10,327,446

3,000,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/38

3,220,973

113,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Cottonwood Creek Public Improvement Area 1 Project

Series 2021

.500

09/01/26

111,634

400,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Cottonwood Creek Public Improvement Area 1 Project

Series 2021

.125

09/01/31

376,687

1,100,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Cottonwood Creek Public Improvement Area 1 Project

Series 2021

.500

09/01/41

909,758

100,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Durango Farms Public Improvement Project Series

2021

.750

09/01/26

99,015

400,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Durango Farms Public Improvement Project Series

2021

.500

09/01/31

378,635

1,165,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Durango Farms Public Improvement Project Series

2021

.875

09/01/41

1,015,367

115,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Emory Crossing, Public Improvement Area 1 Project

Series 2021

.625

09/01/26

113,738

210,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Emory Crossing, Public Improvement Area 1 Project

Series 2021

.250

09/01/31

196,502

550,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Emory Crossing, Public Improvement Area 1 Project

Series 2021

.625

09/01/41

462,311

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

110,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Emory Crossing, Public Improvement Area 2 Project

Series 2023

.500

%

09/01/30

$

112,166

870,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Emory Crossing, Public Improvement Area 2 Project

Series 2023

.250

09/01/43

873,133

300,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Prairie Winds, Public Improvement Area 1, Series 2025

.125

09/01/30

302,403

415,000

(d) Hutto, Williams County Texas, Special Assessment Revenue

Bonds, Prairie Winds, Public Improvement Area 1, Series 2025

.375

09/01/35

415,683

105,000

Intercontinental Crossing Municipal Utility District, Harris

County, Texas, General Obligation Bonds, Series 2021

.000

09/01/26

105,540

110,000

Intercontinental Crossing Municipal Utility District, Harris

County, Texas, General Obligation Bonds, Series 2021

.000

09/01/27

105,126

115,000

Intercontinental Crossing Municipal Utility District, Harris

County, Texas, General Obligation Bonds, Series 2021

.000

09/01/28

107,426

115,000

Intercontinental Crossing Municipal Utility District, Harris

County, Texas, General Obligation Bonds, Series 2021

.250

09/01/29

106,380

120,000

Intercontinental Crossing Municipal Utility District, Harris

County, Texas, General Obligation Bonds, Series 2021

.250

09/01/30

108,617

125,000

Intercontinental Crossing Municipal Utility District, Harris

County, Texas, General Obligation Bonds, Series 2021

.375

09/01/31

111,350

350,000

(d) Joshua Farms Municipal Management District 1, Johnson

County, Texas, Special Assessment Revenue Bonds,

Improvement Areas 1-2 Project Series 2023

.375

09/01/30

353,786

1,600,000

(d) Joshua Farms Municipal Management District 1, Johnson

County, Texas, Special Assessment Revenue Bonds,

Improvement Areas 1-2 Project Series 2023

.250

09/01/43

1,594,840

200,000

(d) Justin, Denton County, Texas, Special Assessment Revenue

Bonds, Timberbrook Public Improvement District 1

Improvement Area 2 Project, Series 2018

.500

09/01/26

197,583

485,000

(d) Justin, Denton County, Texas, Special Assessment Revenue

Bonds, Timberbrook Public Improvement District 1

Improvement Area 2 Project, Series 2018

.000

09/01/31

453,108

153,000

Kaufman,Texas, Special Assessment Revenue Bonds, Kaufman

Public Improvement District 1 Phase 2A-2B Project, Series 2021

.125

09/15/28

156,631

730,000

Kaufman,Texas, Special Assessment Revenue Bonds, Kaufman

Public Improvement District 1 Phase 2A-2B Project, Series 2021

.625

09/15/42

728,603

126,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, 6 Creeks

Public Improvement District Improvement Area 3 Project,

Series 2021

.750

09/01/26

124,758

649,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, 6 Creeks

Public Improvement District Improvement Area 3B Project,

Series 2025

.375

09/01/35

648,735

370,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, 6 Creeks

Public Improvement District Improvement Area 5 Project,

Series 2025

.500

09/01/35

368,532

680,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Limestone

Creek Public Improvement District Improvement Area 1

Project, Series 2023

.500

09/01/43

673,272

548,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Limestone

Creek Public Improvement District Improvement Area 1

Project, Series 2024B

.500

09/01/44

547,172

264,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Plum Creek

North Public Improvement District Major Improvement Area 1

Project, Series 2022

.625

09/01/27

263,087

505,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Plum Creek

North Public Improvement District Major Improvement Area 1

Project, Series 2022

.875

09/01/32

488,336

1,250,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Plum Creek

North Public Improvement District Major Improvement Area 1

Project, Series 2022

.125

09/01/41

1,122,063

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

117,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Plum Creek

North Public Improvement District Major Improvement Project,

Series 2022

.125

%

09/01/27

$

117,501

225,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Plum Creek

North Public Improvement District Major Improvement Project,

Series 2022

.375

09/01/32

225,994

2,000,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Porter County

Public Improvement District Improvement Area 1 Project,

Series 2023

.750

09/01/43

1,974,015

255,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Southwest

Kyle Public Improvement District 1 Improvement Area 1

Project, Series 2019

.250

09/01/29

256,673

84,000

(d) Kyle, Texas, Special Assessment Revenue Bonds, Southwest

Kyle Public Improvement District 1 Improvement Area 2

Project, Series 2023

.750

09/01/30

88,006

224,000

Kyle, Texas, Special Assessment Revenue Bonds, Southwest

Kyle Public Improvement District, Series 2022

.375

09/01/27

225,500

535,000

Kyle, Texas, Special Assessment Revenue Bonds, Southwest

Kyle Public Improvement District, Series 2022

.750

09/01/32

551,506

16,600,000

(d) Lakeside Place Public Facility Corporation, Texas, Multifamily

Housing Revenue Bonds, Torrey Chase Apartments, Series

2021

.480

12/15/39

12,460,383

200,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Elevon

Public Improvement District Improvement Area 1 Project,

Series 2022

.500

09/15/27

196,840

1,000,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Elevon

Public Improvement District Improvement Area 1 Project,

Series 2022

.875

09/15/32

968,860

3,000,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Elevon

Public Improvement District Improvement Area 1 Project,

Series 2022

.000

09/15/42

2,606,013

215,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Elevon

Public Improvement District Improvement Area 1 Project,

Series 2024

.250

09/15/31

214,828

200,000

Lavon, Texas, Special Assessment Revenue Bonds, Elevon

Public Improvement District Improvement Area 2A-2B Project,

Series 2024

.375

09/15/31

200,717

650,000

Lavon, Texas, Special Assessment Revenue Bonds, Elevon

Public Improvement District Improvement Area 2A-2B Project,

Series 2024

.125

09/15/44

650,700

350,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Lakepointe

Public Improvement District Area 1 Project, Series 2019

.750

09/15/29

343,314

1,500,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Lakepointe

Public Improvement District Areas 2-3 Project, Series 2022

.875

09/15/42

1,571,570

200,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Lakepointe

Public Improvement District Major Improvement Area Project,

Series 2019

.375

09/15/29

200,682

753,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Lavon Trails

Public Improvement District Project, Series 2025

.250

09/15/32

761,754

1,100,000

(d) Lavon, Texas, Special Assessment Revenue Bonds, Lavon Trails

Public Improvement District Project, Series 2025

.750

09/15/45

1,123,710

525,000

(d) Leander, Texas, Special Assessment Revenue Bonds,

Deerbrooke Public Improvement District Southern

Improvement Area Project, Series 2017

.125

09/01/28

526,606

105,000

(d) Leander, Texas, Special Assessment Revenue Bonds,

Deerbrooke Public Improvement District Southern

Improvement Area Project, Series 2017

.750

09/01/37

104,451

356,000

(d) Liberty Hill, Williamson County, Texas, Special Assessment

Revenue Bonds, Butler Farms Public Improvement District

Improvement Areas 1 & 2 Project, Series 2022

.625

09/01/27

348,058

750,000

(d) Liberty Hill, Williamson County, Texas, Special Assessment

Revenue Bonds, Butler Farms Public Improvement District

Improvement Areas 1 & 2 Project, Series 2022

.125

09/01/32

707,469

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

2,200,000

(d) Liberty Hill, Williamson County, Texas, Special Assessment

Revenue Bonds, Butler Farms Public Improvement District

Improvement Areas 1 & 2 Project, Series 2022

.375

%

09/01/42

$

1,773,948

275,000

(d) Liberty Hill, Williamson County, Texas, Special Assessment

Revenue Bonds, Butler Farms Public Improvement District

Major Improvement Area Project, Series 2022

.875

09/01/32

260,888

650,000

(d) Liberty Hill, Williamson County, Texas, Special Assessment

Revenue Bonds, Butler Farms Public Improvement District

Major Improvement Area Project, Series 2022

.125

09/01/42

559,673

150,000

(d) Little Elm, Texas, Special Assessment Revenue Bonds, Spiritas

Ranch Public Improvement District Project, Series 2022

.250

09/01/27

147,256

205,000

(d) Little Elm, Texas, Special Assessment Revenue Bonds, Spiritas

Ranch Public Improvement District Project, Series 2022

.500

09/01/32

191,837

530,000

(d) Little Elm, Texas, Special Assessment Revenue Bonds, Spiritas

Ranch Public Improvement District Project, Series 2022

.750

09/01/42

437,048

300,000

(d) Little Elm, Texas, Special Assessment Revenue Bonds, Valencia

Public Improvement District Improvement Area 3 Project,

Series 2021

.875

09/01/31

274,783

725,000

(d) Little Elm, Texas, Special Assessment Revenue Bonds, Valencia

Public Improvement District Improvement Area 3 Project,

Series 2021

.125

09/01/41

542,047

190,000

(d) Little Elm,Texas, Special Assessment Revenue Bonds, Hillstone

Pointe Public Improvement District 2 Phase 1-1A Project, Series

2017

.250

09/01/27

194,498

115,000

(d) Little Elm,Texas, Special Assessment Revenue Bonds, Lakeside

Estates Public Improvement District 2 Project, Series 2017

.500

09/01/27

116,665

450,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Entradaglen

Public Improvement District Improvement Area 1 Project,

Series 2025

.000

09/15/36

459,695

370,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Lagos

Public Improvement District Major Improvement Area Project,

Series 2020

.125

09/15/30

370,648

300,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Manor

Heights Public Improvement District Improvement Area 1-2

Project, Series 2021

.125

09/15/31

274,012

740,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Manor

Heights Public Improvement District Improvement Area 1-2

Project, Series 2021

.500

09/15/41

594,599

170,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Manor

Heights Public Improvement District Major Improvement Area

Project, Series 2021

.125

09/15/26

168,853

315,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Manor

Heights Public Improvement District Major Improvement Area

Project, Series 2021

.750

09/15/31

289,198

530,000

(d) Manor, Texas, Special Assessment Revenue Bonds, Manor

Heights Public Improvement District, Improvement Area 3,

Series 2023

.250

09/15/43

530,208

450,000

(d) Mansfield, Tarrant, Johnson and Ellis Counties, Texas, Special

Assessment Revenue Bonds, Staybolt Public Improvement

District Improvement Area 1 Project, Series 2025

.375

09/15/32

453,995

1,200,000

(d) Mansfield, Tarrant, Johnson and Ellis Counties, Texas, Special

Assessment Revenue Bonds, Staybolt Public Improvement

District Improvement Area 1 Project, Series 2025

.000

09/15/45

1,225,883

170,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Gregg Ranch Public Improvement District

Major Improvement Area Project, Series 2019

.000

09/01/29

174,145

170,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Gregg Ranch Public Improvement District

Neighborhood Improvement Area 1 Project, Series 2019

.500

09/01/29

172,157

33,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Improvement Area 1 Project, Series 2021

.375

09/01/26

32,859

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

500,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Improvement Area 1 Project, Series 2021

.875

%

09/01/31

$

472,729

100,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Improvement Area 1 Project, Series 2021

.125

09/01/41

86,987

1,100,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Improvement Area 2A Project, Series 2024

.375

09/01/44

1,052,541

100,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Major Improvement Area Project, Series 2021

.125

09/01/26

100,240

200,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Major Improvement Area Project, Series 2021

.625

09/01/31

194,705

500,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Major Improvement Area Project, Series 2021

.875

09/01/41

469,674

1,000,000

(d) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Remainder Area Project, Series 2024

.375

09/01/44

983,169

2,550,000

Matagorda County Navigation District 1, Texas, Pollution

Control Revenue Bonds, AEP Texas Central Company Project,

Remarketing, Series 2008-1

.000

06/01/30

2,550,874

340,000

(d) McLendon-Chisholm, Texas, Special Assessment Revenue

Bonds, Sonoma Public Improvement District Improvement

Area 2 Project, Series 2019

.750

09/15/29

334,719

35,000

(d) McLendon-Chisholm, Texas, Special Assessment Revenue

Bonds, Sonoma Public Improvement District Improvement

Area 3 Project, Series 2021

.625

09/15/26

34,601

240,000

(d) McLendon-Chisholm, Texas, Special Assessment Revenue

Bonds, Sonoma Public Improvement District Improvement

Area 3 Project, Series 2021

.125

09/15/31

220,969

225,000

(d) McLendon-Chisholm, Texas, Special Assessment Revenue

Bonds, Sonoma Public Improvement District Improvement

Area 4 Project, Series 2022

.000

09/15/27

228,843

500,000

(d) McLendon-Chisholm, Texas, Special Assessment Revenue

Bonds, Sonoma Public Improvement District Improvement

Area 4 Project, Series 2022

.375

09/15/32

528,654

45,683

(g) Mesquite Health Facilities Development Corporation, Texas,

Retirement Facility Revenue Bonds, Christian Care Centers Inc.,

Series 2014

.000

02/15/24

180,000

(d) Mesquite, Texas, Special Assessment Bonds, Heartland Town

Center Public Improvement District Phase 1 Project, Series

2018

.750

09/01/28

182,959

135,000

(d) Mesquite, Texas, Special Assessment Bonds, Heartland

Town Center Public Improvement District Phase 2 Major

Improvement Project, Series 2018

.125

09/01/28

138,526

520,000

(d) Mesquite, Texas, Special Assessment Bonds, Iron Horse Public

Improvement District Project, Series 2019

.250

09/15/29

536,547

318,000

(d) Mesquite, Texas, Special Assessment Bonds, Solterra Public

Improvement District Improvement Area C-1 Projects, Series

2023

.625

09/01/30

324,791

855,000

(d) Mesquite, Texas, Special Assessment Bonds, Solterra Public

Improvement District Improvement Area C-1 Projects, Series

2023

.375

09/01/43

859,739

235,000

(d) Mesquite, Texas, Special Assessment Revenue Bonds, Solterra

Public Improvement District Area C-3 Projects, Series 2024

.250

09/01/31

236,311

500,000

(d) Mesquite, Texas, Special Assessment Revenue Bonds, Solterra

Public Improvement District Area C-3 Projects, Series 2024

.000

09/01/44

480,320

800,000

(d) Mesquite, Texas, Special Assessment Revenue Bonds, Solterra

Public Improvement District Improvement Area A-1 Projects,

Series 2023

.750

09/01/30

817,776

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,300,000

(d) Mesquite, Texas, Special Assessment Revenue Bonds, Solterra

Public Improvement District Improvement Area A-1 Projects,

Series 2023

.500

%

09/01/43

$

1,319,285

120,000

(d) Midlothian, Texas, Special Assessment Revenue Bonds, Redden

Farms Public Improvement District Improvement Areas 1-2

Project, Series 2021

.875

09/15/26

118,912

410,000

(d) Midlothian, Texas, Special Assessment Revenue Bonds, Redden

Farms Public Improvement District Improvement Areas 1-2

Project, Series 2021

.500

09/15/31

387,651

1,105,000

(d) Midlothian, Texas, Special Assessment Revenue Bonds, Redden

Farms Public Improvement District Improvement Areas 1-2

Project, Series 2021

.875

09/15/41

954,506

220,000

(d) Midlothian, Texas, Special Assessment Revenue Bonds, Redden

Farms Public Improvement District Major Improvement Area

Project, Series 2021

.125

09/15/31

212,990

4,380,000

(d) Mission Economic Development Corporation, Texas, Revenue

Bonds, Natgasoline Project, Senior Lien Series 2018, (AMT)

.625

10/01/31

4,385,248

5,200,000

Mission Economic Development Corporation, Texas,

Solid Waste Disposal Revenue Bonds, Graphic Packaging

International, LLC Project, Green Series 2025, (AMT),

(Mandatory Put 6/01/30)

.000

12/01/64

5,389,220

1,775,000

(d) Mission Economic Development Corporation, Texas, Utility

Revenue Bonds, Permian Basin Water Resources Project, Series

2025A, (AMT)

.750

08/15/45

1,809,544

115,000

Missouri City Management District 1, Fort Bend County, Texas,

General Obligation Bonds, Road Series 2021

.000

09/01/26

113,148

120,000

Missouri City Management District 1, Fort Bend County, Texas,

General Obligation Bonds, Road Series 2021

.000

09/01/27

116,187

125,000

Missouri City Management District 1, Fort Bend County, Texas,

General Obligation Bonds, Road Series 2021

.000

09/01/28

119,310

130,000

Missouri City Management District 1, Fort Bend County, Texas,

General Obligation Bonds, Road Series 2021

.000

09/01/29

122,159

135,000

Missouri City Management District 1, Fort Bend County, Texas,

General Obligation Bonds, Road Series 2021

.250

09/01/30

126,389

140,000

Missouri City Management District 1, Fort Bend County, Texas,

General Obligation Bonds, Road Series 2021

.250

09/01/31

128,673

295,000

Missouri City Management District 1, Fort Bend County, Texas,

General Obligation Bonds, Road Series 2021

.250

09/01/33

259,850

315,000

Missouri City Management District 1, Fort Bend County, Texas,

General Obligation Bonds, Road Series 2021

.375

09/01/35

267,151

340,000

Missouri City Management District 1, Fort Bend County, Texas,

General Obligation Bonds, Road Series 2021

.500

09/01/37

277,035

365,000

Missouri City Management District 1, Fort Bend County, Texas,

General Obligation Bonds, Road Series 2021

.500

09/01/39

277,827

395,000

Missouri City Management District 1, Fort Bend County, Texas,

General Obligation Bonds, Road Series 2021

.750

09/01/41

293,234

453,000

(d) Montgomery County, Texas, Special Assessment Revenue

Bonds, Meadow Park Public Improvement District,

Improvement Area 1, Series 2025

.375

09/15/32

458,186

675,000

(d) Montgomery County, Texas, Special Assessment Revenue

Bonds, Meadow Park Public Improvement District,

Improvement Area 1, Series 2025

.125

09/15/45

666,063

500,000

(d) Montgomery County, Texas, Special Assessment Revenue

Bonds, Crockett Meadows Public Improvement District,

Improvement Area 1, Series 2025

.500

09/15/32

505,253

1,140,000

(d) Montgomery County, Texas, Special Assessment Revenue

Bonds, Crockett Meadows Public Improvement District,

Improvement Area 1, Series 2025

.250

09/15/45

1,132,656

240,000

(d) Mustang Ridge, Travis and Caldwell Counties, Texas, Special

Assessment Revenue Bonds, Durango Public Improvement

District Improvement Area 1 Series 2023

.250

09/01/30

248,032

730,000

(d) Mustang Ridge, Travis and Caldwell Counties, Texas, Special

Assessment Revenue Bonds, Durango Public Improvement

District Improvement Area 1 Series 2023

.125

09/01/43

755,429

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

350,000

(d) Mustang Ridge, Travis and Caldwell Counties, Texas, Special

Assessment Revenue Bonds, Durango Public Improvement

District Improvement Area 2 Project, Series 2025

.000

%

09/01/32

$

359,580

800,000

(d) Mustang Ridge, Travis and Caldwell Counties, Texas, Special

Assessment Revenue Bonds, Durango Public Improvement

District Improvement Area 2 Project, Series 2025

.875

09/01/45

817,942

175,000

(d) New Braunfels, Comal and Guadalupe Counties, Texas,

Special Assessment Revenue Bonds, Solms Landing Public

Improvement District Improvement Area 1 Project, Series 2021

.625

09/01/26

174,640

350,000

(d) New Braunfels, Comal and Guadalupe Counties, Texas,

Special Assessment Revenue Bonds, Solms Landing Public

Improvement District Improvement Area 1 Project, Series 2021

.250

09/01/31

336,356

520,000

(d) New Hope Cultural Education Facilities Finance Corporation,

Texas, Education Revenue Bonds, Beta Academy, Series 2018A

.125

08/15/29

520,296

310,000

(d) New Hope Cultural Education Facilities Finance Corporation,

Texas, Education Revenue Bonds, Beta Academy, Series 2019A

.375

08/15/29

297,255

80,000

(d) New Hope Cultural Education Facilities Finance Corporation,

Texas, Education Revenue Bonds, Beta Academy, Series 2019A

.000

08/15/39

76,974

670,000

(d) New Hope Cultural Education Facilities Finance Corporation,

Texas, Education Revenue Bonds, Beta Academy, Series 2019A

.000

08/15/49

601,494

1,160,000

(d) New Hope Cultural Education Facilities Finance Corporation,

Texas, Education Revenue Bonds, Southwest Preparatory

School, Series 2020A

.000

08/15/30

1,094,453

750,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Bella Vida Forefront

Living Project, Series 2025A

.500

10/01/35

780,140

225,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Bella Vida Forefront

Living Project, Series 2025A

.250

10/01/45

231,495

4,775,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Bella Vida Forefront

Living Project, Series 2025B-2

.625

10/01/30

4,806,525

4,000,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Bella Vida Forefront

Living Project, Series 2025B-3

.250

10/01/30

4,019,248

330,000

(g) New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Buckingham Senior

Living Community, Inc. Project, Series 2021A-1

.500

11/15/37

261,727

2,135,000

(g) New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Buckingham Senior

Living Community, Inc. Project, Series 2021A-2

.500

11/15/36

1,764,400

20,948,469

(g) New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Buckingham Senior

Living Community, Inc. Project, Series 2021B

.625

11/15/61

5,444,419

1,000,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Legacy Midtown

Park Project, Series 2025

.250

07/01/32

1,009,670

9,410,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Senior Living Revenue Bonds, Sanctuary LTC LLC Project,

Series 2021A-1

.500

01/01/31

9,116,854

7,725,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Senior Living Revenue Bonds, Sanctuary LTC LLC Project,

Series 2021A-1

.000

01/01/32

7,901,645

50,655,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Senior Living Revenue Bonds, Sanctuary LTC LLC Project,

Series 2021A-1

.250

01/01/42

47,712,953

11,500,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Senior Living Revenue Bonds, Sanctuary LTC LLC Project,

Series 2021A-1

.500

01/01/57

10,330,172

355,000

(h) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, CHF-Collegiate

Housing Corpus Christi II, L.L.C.-Texas A&M University-Corpus

Christi Project, Series 2016A, (Pre-refunded 4/01/26)

.000

04/01/36

359,270

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,925,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, CHF-Collegiate

Housing Foundation - College Station I LLC - Texas A&M

University Project, Series 2014A

.000

%

04/01/29

$

1,925,669

260,991

(g) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, NCCD - College

Station Properties LLC - Texas A&M University Project, Series

2015A

.000

08/01/25

255,771

14,500,000

(g) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, NCCD - College

Station Properties LLC - Texas A&M University Project, Series

2015A

.000

07/01/30

14,348,547

9,000,000

(g) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, NCCD - College

Station Properties LLC - Texas A&M University Project, Series

2015A

.000

07/01/47

8,356,575

280,000

North Hays County Municipal Utility District 1, Texas, General

Obligation Bonds, Unlimited Tax Series 2021 - BAM Insured

.250

08/15/34

228,893

450,000

North Hays County Municipal Utility District 1, Texas, General

Obligation Bonds, Unlimited Tax Series 2021 - BAM Insured

.250

08/15/35

355,802

480,000

North Hays County Municipal Utility District 1, Texas, General

Obligation Bonds, Unlimited Tax Series 2021 - BAM Insured

.250

08/15/37

357,411

995,000

North Hays County Municipal Utility District 1, Texas, General

Obligation Bonds, Unlimited Tax Series 2021 - BAM Insured

.500

08/15/39

716,826

1,040,000

North Hays County Municipal Utility District 1, Texas, General

Obligation Bonds, Unlimited Tax Series 2021 - BAM Insured

.500

08/15/41

766,897

1,315,000

North Hays County Municipal Utility District 1, Texas, General

Obligation Bonds, Unlimited Tax Series 2021 - BAM Insured

.500

08/15/44

893,313

805,000

North Hays County Municipal Utility District 1, Texas, General

Obligation Bonds, Unlimited Tax Series 2021 - BAM Insured

.625

08/15/47

533,755

100,000

(d) North Parkway Municipal Management District 1, Celina, Texas,

Contract Revenue Bonds, Legacy Hills Public Improvement

District Phase 1A-1B Improvements, Series 2021

.000

09/15/26

99,025

800,000

(d) North Parkway Municipal Management District 1, Celina, Texas,

Contract Revenue Bonds, Legacy Hills Public Improvement

District Phase 1A-1B Improvements, Series 2021

.625

09/15/31

775,764

650,000

(d) North Parkway Municipal Management District 1, Celina, Texas,

Contract Revenue Bonds, Legacy Hills Public Improvement

District Phase 1A-1B Improvements, Series 2021

.000

09/15/41

567,029

265,000

(d) North Richland Hills, Texas, Special Assessment Revenue

Bonds, City Point Public Improvement District Zone A Project,

Series 2019

.250

09/01/30

273,883

351,000

(d) North Richland Hills, Texas, Special Assessment Revenue

Bonds, City Point Public Improvement District Zone B Project,

Series 2019

.875

09/01/30

360,040

320,000

(d) Oak Point, Denton County, Texas, Special Assessment

Revenue Bonds, Chaparral Park Public Improvement District

Improvement Area 1 Project, Series 2024

.250

09/15/31

319,410

725,000

(d) Oak Point, Denton County, Texas, Special Assessment

Revenue Bonds, Chaparral Park Public Improvement District

Improvement Area 1 Project, Series 2024

.100

09/15/44

694,730

245,000

(d) Oak Point, Denton County, Texas, Special Assessment

Revenue Bonds, Oak Point 720 Public Improvement District

Improvement Area 1 Project, Series 2024

.700

09/15/31

247,123

575,000

(d) Oak Point, Denton County, Texas, Special Assessment

Revenue Bonds, Oak Point 720 Public Improvement District

Improvement Area 1 Project, Series 2024

.350

09/15/44

559,242

155,000

(d) Oak Point, Denton County, Texas, Special Assessment Revenue

Bonds, Wildridge Public Imporvement District 1 Improvement

Area 3 Project, Series 2019

.500

09/01/29

150,914

550,000

(d) Oak Point, Denton County, Texas, Special Assessment Revenue

Bonds, Wildridge Public Imporvement District 1 Improvement

Area 3 Project, Series 2019

.000

09/01/39

511,248

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

415,000

Penitas, Hildago County, Texas, Certificates of Obligation,

Series 2025

.000

%

09/01/35

$

426,185

1,000,000

Penitas, Hildago County, Texas, Certificates of Obligation,

Series 2025

.750

09/01/45

1,010,163

300,000

(d) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.000

09/15/30

307,947

400,000

(d) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.000

09/15/30

410,595

350,000

(d) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.250

09/15/35

360,490

300,000

(d) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.000

09/15/35

307,528

350,000

(d) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.000

09/15/35

359,191

217,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Creekview Public Improvement District Zone A Improvement

Area 1 Project, Series 2022

.875

09/15/27

218,293

195,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Creekview Public Improvement District Zone B Improvement

Area 1 Project, Series 2022

.875

09/15/27

196,410

269,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Mobberly Public Improvement District Improvement Area 1

Project, Series 2022

.875

09/15/27

270,599

912,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Mobberly Public Improvement District Improvement Area 1

Project, Series 2022

.125

09/15/32

929,774

350,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Mobberly Public Improvement District Improvement Area 2

Project, Series 2022

.375

09/15/27

353,110

500,000

(d) Pilot Point, Texas, Special Assessment Revenue Bonds,

Mobberly Public Improvement District Improvement Area 2

Project, Series 2022

.625

09/15/32

525,705

1,250,000

(d) Plano, Collin and Denton Counties, Texas, Special Assessment

Revenue Bonds, Haggard Farm Public Improvement District

Project, Major Improvement Area Project Series 2023

.250

09/15/43

1,299,152

80,000

Ponder, Texas, Special Assessment Revenue Bonds, Public

Improvement District 1 Estates at Remington Park, Series 2017

.000

09/01/27

80,519

33,470,000

(d) Port Beaumont Industrial Development Authority, Texas, Facility

Revenue Bonds, Jefferson Gulf Coast Energy Project, Series

2021B

.100

01/01/28

30,047,716

14,750,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2020, (AMT)

.625

01/01/35

13,648,387

2,710,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.875

01/01/26

2,694,168

1,250,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.000

01/01/27

1,219,119

1,850,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.125

01/01/28

1,775,536

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

2,100,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.250

%

01/01/29

$

1,983,394

2,400,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.625

01/01/31

2,219,009

8,605,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.750

01/01/36

7,095,684

7,215,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2021A, (AMT)

.875

01/01/41

5,235,661

10,500,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2024A, (AMT)

.000

01/01/39

10,381,196

5,000,000

(d) Port Beaumont Navigation District, Jefferson County, Texas,

Dock and Wharf Facility Revenue Bonds, Jefferson Gulf Coast

Energy Project, Series 2024A, (AMT)

.125

01/01/44

4,826,225

211,000

Princeton, Collins County, Texas, Special Assessment Revenue

Bonds, Winchester Public Improvement District 2 Project,

Series 2022

.250

09/01/27

211,596

460,000

Princeton, Collins County, Texas, Special Assessment Revenue

Bonds, Winchester Public Improvement District 2 Project,

Series 2022

.750

09/01/32

468,179

275,000

(d) Princeton, Collins County, Texas, Special Assessment Revenue

Bonds, Windmore Public Improvement District Improvement

Area 1 Project, Series 2022

.375

09/01/31

278,546

500,000

(d) Princeton, Collins County, Texas, Special Assessment Revenue

Bonds, Windmore Public Improvement District Improvement

Area 1 Project, Series 2022

.125

09/01/44

477,392

25,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Brookside Public Improvement District Phase 2 & 3 Project,

Series 2021

.500

09/01/26

24,698

148,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Brookside Public Improvement District Phase 2 & 3 Project,

Series 2021

.000

09/01/31

138,563

350,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Brookside Public Improvement District Phase 2 & 3 Project,

Series 2021

.375

09/01/41

278,824

171,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Eastridge Public Improvement District 1 Project, Series 2022

.250

09/01/27

171,813

400,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Eastridge Public Improvement District 1 Project, Series 2022

.750

09/01/32

415,087

375,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Eastridge Public Improvement District Improvement Area 2

Project, Series 2023

.500

09/01/30

382,071

564,000

Princeton, Texas, Special Assessment Revenue Bonds,

Eastridge Public Improvement District Improvement Area 3

Project, Series 2024

.250

09/01/31

568,809

750,000

Princeton, Texas, Special Assessment Revenue Bonds,

Eastridge Public Improvement District Improvement Area 3

Project, Series 2024

.000

09/01/44

719,617

340,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Eastridge Public Improvement District Improvement Area 4

Project, Series 2025

.250

09/01/30

343,821

340,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Eastridge Public Improvement District Improvement Area 4

Project, Series 2025

.600

09/01/35

344,272

280,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Eastridge Public Improvement District Improvement Area 4

Project, Series 2025

.375

09/01/45

280,065

2,350,000

(d) Princeton, Texas, Special Assessment Revenue Bonds, Sicily

Public Improvement District Improvement Area 1 Project,

Series 2023

.000

09/01/43

2,392,927

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

515,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Southridge Public Improvement District Improvement Area 2

Project, Series 2024

.375

%

09/01/31

$

521,150

900,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Southridge Public Improvement District Improvement Area 2

Project, Series 2024

.250

09/01/44

878,610

450,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Westridge Public Improvement District Improvement Area 1

Project, Series 2025

.250

09/01/30

455,052

400,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Westridge Public Improvement District Improvement Area 1

Project, Series 2025

.600

09/01/35

405,026

300,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Westridge Public Improvement District Improvement Area 1

Project, Series 2025

.375

09/01/45

296,891

457,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Whitewing Trails Public Improvement District 2 Phase 1 Project,

Series 2019

.000

09/01/29

453,932

310,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Whitewing Trails Public Improvement District 2 Phase 2-6 Major

Improvement Project, Series 2019

.000

09/01/29

317,917

328,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Winchester Crossing Public Improvement District 3 Project,

Series 2024

.375

09/01/31

329,662

47,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Winchester Public Improvement District Phase 3 & 4 Project,

Series 2021

.375

09/01/26

46,380

215,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Winchester Public Improvement District Phase 3 & 4 Project,

Series 2021

.875

09/01/31

196,928

550,000

(d) Princeton, Texas, Special Assessment Revenue Bonds,

Winchester Public Improvement District Phase 3 & 4 Project,

Series 2021

.250

09/01/41

416,965

212,000

(d) Providence Village, Denton County, Texas, Special Assessment

Revenue Bonds, Foree Ranch Public Improvement District

Improvement Area 1 Project Series 2024

.375

09/01/31

213,554

650,000

(d) Providence Village, Denton County, Texas, Special Assessment

Revenue Bonds, Foree Ranch Public Improvement District

Improvement Area 1 Project Series 2024

.000

09/01/44

618,468

330,000

(d) Providence Village, Denton County, Texas, Special Assessment

Revenue Bonds, Foree Ranch Public Improvement District

Improvement Area 2 Project Series 2025

.250

09/01/30

332,684

430,000

(d) Providence Village, Denton County, Texas, Special Assessment

Revenue Bonds, Foree Ranch Public Improvement District

Improvement Area 2 Project Series 2025

.500

09/01/35

429,654

500,000

(d) Providence Village, Denton County, Texas, Special Assessment

Revenue Bonds, Foree Ranch Public Improvement District

Improvement Area 2 Project Series 2025

.350

09/01/45

491,525

1,125,000

(g) Red River Health Facilities Development Corporation, Texas,

First Mortgage Revenue Bonds, Eden Home Inc., Series 2012

.000

06/15/23

517,500

435,000

(d) Royse CIty, Rockwall County, Texas, Special Assessment

Revenue Bonds, Parkside Village Public improvement District

Project, Series 2019

.625

09/15/29

425,349

255,000

(d) Royse CIty, Rockwall County, Texas, Special Assessment

Revenue Bonds, Waterscape Public improvement District

Improvement Area 1 Phase 1B Project, Series 2019

.875

09/15/29

251,004

230,000

(d) Royse CIty, Rockwall County, Texas, Special Assessment

Revenue Bonds, Waterscape Public improvement District

Improvement Area 1 Project, Series 2017

.250

09/15/28

230,203

455,000

(d) Royse CIty, Rockwall County, Texas, Special Assessment

Revenue Bonds, Waterscape Public improvement District

Improvement Area 2 Project, Series 2019

.125

09/15/29

456,225

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

249,000

(d) Royse CIty, Rockwall County, Texas, Special Assessment

Revenue Bonds, Waterscape Public improvement District

Improvement Area 3 Project, Series 2022

.750

%

09/15/27

$

251,240

736,000

(d) Royse CIty, Rockwall County, Texas, Special Assessment

Revenue Bonds, Waterscape Public improvement District

Improvement Area 3 Project, Series 2022

.125

09/15/32

763,997

2,216,000

(d) Royse CIty, Rockwall County, Texas, Special Assessment

Revenue Bonds, Waterscape Public improvement District

Improvement Area 3 Project, Series 2022

.625

09/15/42

2,223,844

330,000

(d) Royse City, Rockwall County, Texas, Special Assessment

Revenue Bonds, Waterscape Public improvement District Major

Improvement Area Project, Series 2017

.750

09/15/28

333,357

225,000

(d) Royse CIty, Rockwall, Collin and Hunt Counties, Texas, Special

Assessment Revenue Bonds, Creekshaw Public Improvement

District Improvement Area 1 Project, Series 2020

.625

09/15/30

215,157

200,000

(d) Royse City, Rockwall, Collin and Hunt Counties, Texas, Special

Assessment Revenue Bonds, Creekshaw Public Improvement

District Improvement Area 2 Project, Series 2022

.875

09/15/27

202,143

300,000

(d) Royse City, Rockwall, Collin and Hunt Counties, Texas, Special

Assessment Revenue Bonds, Creekshaw Public Improvement

District Improvement Area 2 Project, Series 2022

.250

09/15/32

313,100

400,000

(d) Royse City, Rockwall, Collin and Hunt Counties, Texas,

Special Assessment Revenue Bonds, Liberty Crossing Public

Improvement District Improvement Area 2 Project, Series 2024

.375

09/15/44

390,198

450,000

SA Energy Acquisition Public Facilities Corporation, Texas, Gas

Supply Revenue Bonds, Series 2007

.500

08/01/27

465,705

660,000

(d) Sachse, Texas, Special Assessment Bonds, Sachse Public

Improvement District 1 Improvement Area 1 Project, Series

2022

.625

09/15/42

678,022

720,000

(d) Sachse, Texas, Special Assessment Bonds, Sachse Public

Improvement District 1 Improvement Areas 2-3 Project, Series

2022

.875

09/15/42

779,043

265,000

San Antonio Education Facilities Corporation, Texas, Higher

Education Revenue Bonds, Hallmark University Project, Series

2021A

.000

10/01/31

256,322

4,435,000

San Antonio, Texas, Airport System Revenue Bonds,

Improvement Series 2015, (AMT)

.000

07/01/45

4,434,938

1,040,000

(d) San Marcos City, Hays, Caldwell and Guadalupe Counties,

Texas, Special Assessment Revenue Bonds, San Marcos Trace

Public Improvement District Series 2019

.000

09/01/29

1,053,604

283,000

(d) San Marcos City, Hays, Caldwell and Guadalupe Counties,

Texas, Special Assessment Revenue Bonds, San Marcos Trace

Public Improvement District Series 2024

.875

09/01/30

285,581

186,000

(d) San Marcos, Hays, Caldwell and Guadalupe Counties, Texas,

Special Assessment Revenue Bonds, Whisper South Public

Improvement District, Series 2020

.750

09/01/27

183,754

500,000

(d) San Marcos, Hays, Caldwell and Guadalupe Counties, Texas,

Special Assessment Revenue Bonds, Whisper South Public

Improvement District, Series 2020

.000

09/01/32

483,427

149,000

(d) Santa Fe, Galveston County, Texas, Special Assessment

Revenue Bonds, Mulberry Farms Public Improvement District

Series 2022

.375

09/01/27

149,083

295,000

(d) Santa Fe, Galveston County, Texas, Special Assessment

Revenue Bonds, Mulberry Farms Public Improvement District

Series 2022

.625

09/01/32

296,718

700,000

(d) Seagoville, Dallas and Kaufman Counties, Texas, Special

Assessment Revenue Bonds, Stonehaven Public Improvement

District Improvement Area 1 Project and Improvement Area 2

Project, Series 2025

.750

09/15/45

710,120

1,965,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Retirement Facility Revenue Bonds,

Buckner Senior Living Ventana Project, Series 2017A

.000

11/15/27

2,001,733

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

3,095,000

Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Retirement Facility Revenue Bonds,

Buckner Senior Living Ventana Project, Series 2017A

.750

%

11/15/47

$

3,121,473

944,991

(g) Tarrant County Cultural Education Facilities Finance

Corporation, Texas, Retirement Facility Revenue Bonds,

Northwest Senior Housing-Edgemere Project, Series 2015A

.000

11/15/25

2,983,000

(d) Terrell, Texas, Special Assessment Revenue Bonds, Arboretum

Estates Public Improvement District 6 Major Improvement Area

Project, Series 2025

.750

09/15/35

2,999,807

140,000

(f) Texas Municipal Gas Acquisition and Supply Corporation I,

Gas Supply Revenue Bonds, Series 2006B (TSFR3M\*0.67% +

0.700%)

.581

12/15/26

139,958

5,000,000

Texas Municipal Gas Acquisition and Supply Corporation V,

Texas, Gas Supply Revenue Bonds, Series 2024, (Mandatory Put

1/01/34)

.000

01/01/55

5,464,768

1,890,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.375

06/30/39

1,985,664

1,000,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.500

06/30/40

1,049,621

1,500,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.500

06/30/41

1,564,182

1,250,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.500

06/30/42

1,295,443

1,760,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.500

06/30/43

1,816,149

400,000

(d) Tomball Winfrey Estates Public Improvement District, Texas,

Special Assessment Revenue Bonds, Series 2025

.750

09/15/32

412,050

500,000

(d) Tomball Winfrey Estates Public Improvement District, Texas,

Special Assessment Revenue Bonds, Series 2025

.750

09/15/45

514,356

285,000

Town Of Hickory Creek, Denton County, Texas, Special

Assessment Revenue Bonds, Hickory Creek Public

Improvement District, Series 2018

.125

09/01/28

291,663

200,000

(d) Town of Lakewood Village, Texas, Lakewood Village Public

Improvement District Improvement District No. 1 Project

Special Assessment Revenue Bonds Series 2022

.375

09/15/27

200,207

500,000

(d) Town of Lakewood Village, Texas, Lakewood Village Public

Improvement District Improvement District No. 1 Project

Special Assessment Revenue Bonds Series 2022

.750

09/15/32

512,637

1,000,000

(d) Town of Lakewood Village, Texas, Lakewood Village Public

Improvement District Improvement District No. 1 Project

Special Assessment Revenue Bonds Series 2022

.250

09/15/42

1,000,988

490,000

(d) Travis County Development Authority, Texas, Contract

Assessment Revenue Bonds, Bella Fortuna Public Improvement

District, Series 2024

.500

09/01/31

497,372

845,000

(d) Travis County Development Authority, Texas, Contract

Assessment Revenue Bonds, Bella Fortuna Public Improvement

District, Series 2024

.375

09/01/44

850,410

212,000

(d) Travis County Development Authority, Texas, Contract

Assessment Revenue Bonds, Turner's Crossing Public

Improvement District Area1 Project, Series 2022

.375

09/01/27

213,080

300,000

(d) Travis County Development Authority, Texas, Contract

Assessment Revenue Bonds, Turner's Crossing Public

Improvement District Area1 Project, Series 2022

.750

09/01/32

309,099

612,000

(d) Travis County Development Authority, Texas, Contract

Assessment Revenue Bonds, Turner's Crossing Public

Improvement District Area1 Project, Series 2025

.250

09/01/31

616,212

800,000

(d) Travis County Development Authority, Texas, Contract

Assessment Revenue Bonds, Turner's Crossing Public

Improvement District Area1 Project, Series 2025

.000

09/01/44

775,927

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

1,000,000

Trophy Club Public Improvement District No. 1, Texas, Special

Assessment Revenue Bonds, Town Of trophy Club, Refunding

Series 2025

.000

%

09/01/28

$

1,029,089

750,000

Trophy Club Public Improvement District No. 1, Texas, Special

Assessment Revenue Bonds, Town Of trophy Club, Refunding

Series 2025

.000

09/01/30

797,690

1,000,000

Trophy Club Public Improvement District No. 1, Texas, Special

Assessment Revenue Bonds, Town Of trophy Club, Refunding

Series 2025

.000

09/01/32

1,072,365

360,000

(d) Uhland, Hays and Caldwell Counties, Texas, Special

Assessment Revenue Bonds, Anderson Park Public

Improvement District Improvement Area 1 Project, Series 2022

.375

09/01/31

363,471

615,000

(d) Uhland, Hays and Caldwell Counties, Texas, Special

Assessment Revenue Bonds, Anderson Park Public

Improvement District Improvement Area 1 Project, Series 2022

.125

09/01/44

592,084

945,000

(d) Uhland, Hays and Caldwell Counties, Texas, Special

Assessment Revenue Bonds, Watermill Public Improvement

District, Series 2022

.875

09/01/32

997,133

425,000

Uptown Development Authority, Houston, Texas, Tax Increment

Contract Revenue Bonds, Infrastructure Improvement Facilities,

Refunding Series 2021

.000

09/01/31

455,005

425,000

Uptown Development Authority, Houston, Texas, Tax Increment

Contract Revenue Bonds, Infrastructure Improvement Facilities,

Refunding Series 2021

.000

09/01/32

426,668

755,000

Uptown Development Authority, Houston, Texas, Tax Increment

Contract Revenue Bonds, Infrastructure Improvement Facilities,

Refunding Series 2021

.000

09/01/34

681,715

280,000

Uptown Development Authority, Houston, Texas, Tax Increment

Contract Revenue Bonds, Infrastructure Improvement Facilities,

Refunding Series 2021

.000

09/01/35

268,412

1,645,000

Uptown Development Authority, Houston, Texas, Tax Increment

Contract Revenue Bonds, Infrastructure Improvement Facilities,

Series 2017A

.000

09/01/39

1,647,326

436,000

(d) Venus, Johnson County, Texas, Special Assessment Revenue

Bonds, Brahman Ranch Public Improvement District, Series

2022

.625

09/15/28

450,497

2,394,000

(d) Venus, Johnson County, Texas, Special Assessment Revenue

Bonds, Brahman Ranch Public Improvement District, Series

2022

.250

09/15/42

2,385,888

144,000

(d) Venus, Johnson County, Texas, Special Assessment Revenue

Bonds, Patriot Estates Public Improvement District, Series 2021

.625

09/15/26

142,359

250,000

(d) Venus, Johnson County, Texas, Special Assessment Revenue

Bonds, Patriot Estates Public Improvement District, Series 2021

.125

09/15/31

233,268

230,000

Vista Lago, Travis County, Texas, Special Assessment Revenue

Bonds, Tessera on Lake Travis Public Improvement District

Improvement Area #2 Project, Series 2018

.500

09/01/27

232,091

425,000

(d) Vista Lago, Travis County, Texas, Special Assessment Revenue

Bonds, Tessera on Lake Travis Public Improvement District

Improvement Area #3 Project, Series 2024

.750

09/01/30

430,841

1,220,000

(d) Vista Lago, Travis County, Texas, Special Assessment Revenue

Bonds, Tessera on Lake Travis Public Improvement District

Improvement Area #3 Project, Series 2024

.625

09/01/43

1,218,209

1,680,000

Westlake, Texas, Special Assessment Revenue Bonds, Solana

Public Improvement District, Series 2015

.125

09/01/35

1,680,058

1,805,000

Westlake, Texas, Special Assessment Revenue Bonds, Solana

Public Improvement District, Series 2015

.250

09/01/40

1,804,869

530,000

(d) Wharton, Wharton County, Texas, Special Assessment Revenue

Bonds, Wharton Public Improvement District 2 Phase 1 Project

& Phase 2 Project, Series 2025

.375

09/15/32

537,336

880,000

(d) Wharton, Wharton County, Texas, Special Assessment Revenue

Bonds, Wharton Public Improvement District 2 Phase 1 Project

& Phase 2 Project, Series 2025

.750

09/15/45

892,723

TOTAL TEXAS

653,205,436

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTAH - 0.9%

$

560,000

(d) Black Desert Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds Series 2021A

.250

%

03/01/31

$

541,676

1,835,000

(d) Black Desert Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds Series 2021A

.500

03/01/36

1,682,559

2,015,000

(d),(g)

Box Elder County, Utah, Solid Waste Disposal Revenue Bonds,

Promontory Point Res, LLC, Senior Series 2017A, (AMT)

.000

12/01/39

1,935,173

3,919,000

Coral Junction Public Infrastructure District 1, Utah, Limited Tax

General Obligation Bonds, Series 2022A-1

.500

03/01/53

3,741,567

2,356,000

(d) Coral Junction Public Infrastructure District 1, Utah, Special

Assessment Bonds, Coral Junction Assessment Area, Series

2022A-2

.500

06/01/41

2,269,355

1,345,000

(d) Downtown East Streetcar Sewer Public Infrastructure District,

South Salt Lake, Salt Lake County, Utah, Limited Tax General

Obligation Bonds, Series 2022A

.750

03/01/42

1,347,724

948,931

(d) Firefly Public Infrastructure District 1, Utah, Limited Tax General

Obligation Bonds, Series 2024A-1

.625

12/01/43

950,692

1,000,000

(d) MIDA Mountain Village Public Infrastructure District, Utah,

Subordinate Tax Allocation Revenue Bonds, Series 2024-2

.750

06/15/44

1,009,544

1,730,000

Military Installation Development Authority, Utah, Tax

Allocation Revenue Bonds Series 2021A-2

.000

06/01/36

1,633,931

8,140,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2017A, (AMT)

.000

07/01/47

8,140,969

3,670,000

(d) Sienna Hills Public Infrastructure District No. 1 Limited Tax

General Obligation and Sales Tax Revenue Bonds, Utah, Series

2023A

.750

07/01/35

3,728,562

1,360,000

(d) Utah Charter School Finance Authority, Charter School

Revenue Bonds, Leadership Learning Academy Project, Series

2019A

.000

06/15/29

1,392,084

2,115,000

(d) Utah Charter School Finance Authority, Charter School

Revenue Bonds, Leadership Learning Academy Project, Series

2019A

.000

06/15/34

2,132,955

475,000

(d) Utah Charter School Finance Authority, Charter School

Revenue Bonds, Mountain West Montessori Academy Project,

Series 2020A

.000

06/15/39

444,449

1,055,000

(d) Utah Charter School Finance Authority, Revenue Bonds,

Beehive Science & Technology Academy, Series 2021A

.000

10/15/31

1,004,457

2,325,000

(d) Utah Charter School Finance Authority, Revenue Bonds,

Beehive Science & Technology Academy, Series 2021A

.000

10/15/41

1,816,282

710,000

(d) Utah Charter School Finance Authority, Revenue Bonds,

Channing Hall Project, Refunding Series 2017A

.500

07/15/27

715,302

5,430,000

(d) Utah Charter School Finance Authority, Revenue Bonds,

Channing Hall Project, Refunding Series 2017A

.250

07/15/38

5,448,138

1,130,000

(d) Utah Charter School Finance Authority, Revenue Bonds, Ronald

Eilson Reagan Academy Project, Refunding Series 2016A

.000

02/15/36

1,103,881

1,350,000

(d) Utah Charter School Finance Authority, Revenue Bonds,

Wallace Stegner Academy Project, Series 2019A

.000

06/15/39

1,285,397

11,160,000

(d) Verk Industrial Regional Public Infrastructure District, Utah, Tax

Differential Revenue Bonds, Series 2025

.625

09/01/47

11,598,069

TOTAL UTAH

53,922,766

VIRGIN ISLANDS - 0.8%

26,340,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/39

26,799,454

375,000

Virgin Islands Public Finance Authority, Gross Receipts Taxes

Loan Note, Refunding Series 2012A

.000

10/01/32

375,059

4,760,000

(d) Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Bond Anticipation Notes, Senior Series 2021A

.750

07/01/26

4,771,125

6,080,000

(d) Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Bond Anticipation Notes, Series 2024A

.000

07/01/26

6,148,861

420,000

(d) Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Refunding Series 2024B

.250

07/01/26

420,886

4,810,000

Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Series 2007B

.000

07/01/31

4,226,391

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VIRGIN ISLANDS

(continued)

$

4,545,000

(d) West Indian Company Limited, Virgin Islands, Port Facilities

Revenue Bonds WICO Financing Series 2022, (AMT)

.875

%

10/01/32

$

4,415,820

1,000,000

(d) West Indian Company Limited, Virgin Islands, Port Facilities

Revenue Bonds WICO Financing Series 2022B, (AMT)

.250

10/01/42

983,781

TOTAL VIRGIN ISLANDS

48,141,377

VIRGINIA - 0.5%

270,000

Ballston Quarter Community Development Authority, Arlington

County, Virginia, Revenue Bonds, Series 2016A

.000

03/01/26

269,084

1,920,000

Ballston Quarter Community Development Authority, Arlington

County, Virginia, Revenue Bonds, Series 2016A

.125

03/01/31

1,859,526

2,730,000

(d),(g)

Bristol Industrial Development Agency, Virginia, Revenue

Bonds, The Falls-Bristol Project, Series 2014B

.750

11/01/29

1,774,500

1,000,000

(d) Cherry Hill Community Development Authority, Virginia,

Special Assesment Bonds, Potomac Shores Project, Series 2015

.150

03/01/35

1,001,237

815,000

(d) Cutalong II Community Development Authority, Louisa County,

Virginia, Special Assessment Revenue Bonds, Cutalong II

Project, Series 2022

.000

03/01/32

774,952

3,332,000

(d) Cutalong II Community Development Authority, Louisa County,

Virginia, Special Assessment Revenue Bonds, Cutalong II

Project, Series 2022

.250

03/01/42

2,856,588

25,000

(d) Farms of New Kent Community Development Authority,

Virginia, Special Assessment Bonds, Refunding Series 2021A

.750

03/01/36

24,062

790,000

James City County Economic Development Authority, Virginia,

Residential Care Facility Revenue Bonds, Williamsburg Landing

Inc., Series 2024C-2

.500

12/01/28

791,791

1,135,000

(d) Richmond Redevelopment and Housing Authority, Virginia,

Multi-Family Housing Revenue Bonds, American Tobacco

Apartments, Series 2017

.550

01/01/37

1,098,678

4,000,000

Virginia Beach Development Authority, Virginia, Residential

Care Facility Revenue Bonds, Westminster Canterbury on

Chesapeake Bay, Series 2023B-1

.250

09/01/30

4,038,698

7,500,000

Virginia Beach Development Authority, Virginia, Residential

Care Facility Revenue Bonds, Westminster Canterbury on

Chesapeake Bay, Series 2023B-2

.750

09/01/30

7,576,237

4,000,000

Virginia Beach Development Authority, Virginia, Residential

Care Facility Revenue Bonds, Westminster Canterbury on

Chesapeake Bay, Series 2023B-3

.375

09/01/29

4,039,998

105,000

Virginia College Building Authority, Educational Facilities

Revenue Bonds, Regent University Project, Series 2021

.000

06/01/46

89,663

855,000

(d) Virginia Small Business Finance Authority, Tourism

Development Financing Program Revenue Bonds, Downtown

Norfolk and Virginia Beach Oceanfront Hotel Projects, Series

2018A

.500

04/01/28

873,020

100,000

Virginia Small Business Financing Authority, Private Activity

Revenue Bonds, Transform 66 P3 Project, Senior Lien Series

2017, (AMT)

.000

12/31/47

98,695

2,045,000

(d) Virginia Small Business Financing Authority, Solid Waste

Disposal Revenue Bonds, Covanta Project, Series 2018, (AMT),

(Mandatory Put 7/01/38)

.000

01/01/48

1,922,563

TOTAL VIRGINIA

29,089,292

WASHINGTON - 0.2%

515,000

King County Public Hospital District 4, Washington, General

Obligation Bonds, Snoqualmie Valley Hospital, Refunding

Limited Tax Series 2015A

.250

12/01/25

514,908

570,000

Kitsap County Consolidated Housing Authority, Washington,

Pooled Tax Credit Housing Revenue Bonds, Series 2007, (AMT)

.500

06/01/27

570,043

1,500,000

Kitsap County Consolidated Housing Authority, Washington,

Pooled Tax Credit Housing Revenue Bonds, Series 2007, (AMT)

.600

06/01/37

1,423,253

805,000

Seattle Housing Authority, Washington, Revenue Bonds,

Newholly Phase I Project, Series 2016A

.550

10/01/46

700,414

2,000,000

Skagit County Public Hospital District 1, Washington, Revenue

Bonds, Skagit Valley Hospital, Refunding & Improvement Series

2016

.000

12/01/37

2,008,797

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WASHINGTON

(continued)

$

1,320,000

Tacoma Consolidated Local Improvement District 65,

Washington, Special Assessment Bonds, Series 2013

.750

%

04/01/43

$

1,303,891

125,000

(d) Washington State Housing Finance Commission, Non-Profit

Housing Revenue Bonds, Bayview Manor Senior Project,

Refunding Series 2016A

.000

07/01/26

124,841

2,000,000

(d) Washington State Housing Finance Commission, Non-

profit Housing Revenue Bonds, Presbyterian Retirement

Communities Northwest Proejct, Refunding Series 2016A

.000

01/01/31

2,022,767

2,910,000

(d) Washington State Housing Finance Commission, Nonprofit

Refunding Revenue Bonds, Wesley Homes at Lea Hill Project,

Series 2016

.000

07/01/31

2,919,246

2,000,000

(d) Washington State Housing Finance Commission, Nonprofit

Refunding Revenue Bonds, Wesley Homes at Lea Hill Project,

Series 2016

.000

07/01/36

1,967,382

TOTAL WASHINGTON

13,555,542

WEST VIRGINIA - 0.3%

1,500,000

Glenville State College, West Virginia, Revenue Bonds,

Refunding & Improvement Series 2017

.500

06/01/32

1,461,122

2,500,000

Glenville State College, West Virginia, Revenue Bonds,

Refunding & Improvement Series 2017

.000

06/01/37

2,323,493

470,000

(d) Monongalia County Commission, West Virginia, Special District

Excise Tax Revenue Bonds, University Town Centre Economic

Opportunity Development District, Refunding & Improvement

Series 2017A

.500

06/01/27

473,095

5,745,000

(d) Monongalia County Commission, West Virginia, Special District

Excise Tax Revenue Bonds, University Town Centre Economic

Opportunity Development District, Refunding & Improvement

Series 2017A

.750

06/01/43

5,794,064

200,000

(d) Monongalia County Commission, West Virginia, Special District

Excise Tax Revenue Bonds, University Town Centre Economic

Opportunity Development District, Refunding & Improvement

Series 2021A

.125

06/01/43

171,941

11,405,000

(d) Monongalia County Commission, West Virginia, Special District

Excise Tax Revenue Bonds, University Town Centre Economic

Opportunity Development District, Subordinate Improvement

and Refunding Series 2023B

.000

06/01/53

2,468,034

495,000

(d) South Charleston, West Virginia, Special District Excise Tax

Revenue Improvement Bonds, South Charleston Park Place

Project, Series 2022A

.250

06/01/42

395,429

3,085,000

(d),(g)

West Virginia Economic Development Authority, Dock and

Wharf Facilities Revenue Bonds, Empire Trimodal Terminal, LLC

Project, Series 2020

.000

12/01/40

1,543,593

1,625,000

(d) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35)

.450

01/01/55

1,695,872

1,720,000

(d) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 5/15/32)

.625

04/15/55

1,739,701

1,000,000

West Virginia Hospital Finance Authority, Hospital Revenue

Bonds, Cabell Huntington Hospital, Inc. Project, Refunding &

Improvement Series 2018A

.000

01/01/36

1,002,384

TOTAL WEST VIRGINIA

19,068,728

WISCONSIN - 7.4%

1,415,000

Elkhart Lake-Glenbeulah School District, Sheboygan County,

Wisconsin, General Obligation Bonds, Series 2025 - BAM

Insured

.000

03/01/26

1,717,001

2,705,000

Lac Courte Oreilles Band of Lake Superior Chippewa Indians,

Wisconsin, General Revenue Bonds, Refunding Series 2017

.750

06/01/32

2,718,125

1,000,000

Markesan School District, Columbia, Dodge, Fond Du Lac,

Green Lake and Marquette Counties, Wisconsin, General

Obligation Bonds, Promissory Notes Series 2025

.000

03/01/26

1,212,341

300,000

Milwaukee Redevelopment Authority, Wisconsin, Lease

Revenue Bonds, Public Schools, Series 2017

.000

11/15/31

306,360

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

190,000

Milwaukee Redevelopment Authority, Wisconsin, Lease

Revenue Bonds, Public Schools, Series 2017

.000

%

11/15/33

$

193,943

170,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Alamance Community School, Series 2021A

.250

06/15/31

164,723

3,360,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, American Preparatory Academy, Las Vegas 2 Project,

Series 2019A

.000

07/15/49

3,082,615

275,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Ascend Leadership Academy Project, Series 2021A

.250

06/15/31

257,974

895,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Ascend Leadership Academy Project, Series 2021A

.000

06/15/41

766,569

200,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Cherokee Classical Academy, Series 2025A

.000

06/15/35

205,131

325,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Cherokee Classical Academy, Series 2025A

.500

06/15/45

319,604

400,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Coral Academy of Science, Reno, Series 2021A

.000

06/01/36

353,936

35,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Cornerstone Charter Academy, North Carolina, Series

2016A

.250

02/01/26

35,005

605,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Corvian Community School Bonds, North Carolina,

Series 2019A

.000

06/15/29

587,663

390,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Corvian Community School Bonds, North Carolina,

Series 2019A

.000

06/15/39

356,230

1,540,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Corvian Community School, North Carolina, Series

2017A

.250

06/15/29

1,508,778

2,225,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Discovery Charter School Project, Series 2022A

.500

06/01/42

2,186,423

1,365,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Discovery Charter School Project, Series 2022A

.500

06/01/47

1,305,695

995,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Discovery Charter School Project, Series 2022A

.625

06/01/52

950,278

525,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Discovery Charter School Project, Series 2022A

.750

06/01/62

500,186

145,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Envision Science Academy Project, Series 2016A

.125

05/01/26

144,397

965,000

Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Explore Knowledge Foundation Las Vegas Project,

Series 2012A

.750

07/15/32

965,817

700,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Foundation Academy Charter School Project, Series

2024

.000

07/01/35

727,820

1,800,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Foundation Academy Charter School Project, Series

2024

.750

07/01/45

1,623,780

250,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Founders Academy of Las Vegas, Series 2023A

.750

07/01/33

264,891

325,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Founders Academy of Las Vegas, Series 2023A

.375

07/01/43

336,052

650,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Freedom Classical Academy Inc., Series 2020A

.000

01/01/31

657,645

745,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Guilford Preparatory Academy, North Carolina, Taxable

Series 2022A

.375

04/01/32

728,394

3,780,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Mallard Creek STEM Academy, North Carolina, Series

2019

.125

06/15/39

3,693,924

585,000

(d),(h)

Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North Carolina Charter Educational Foundation Project,

Series 2016A, (ETM)

.100

06/15/26

588,032

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

1,135,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North Carolina Charter Educational Foundation Project,

Series 2016A

.100

%

06/15/26

$

1,129,742

2,760,000

(d),(h)

Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North Carolina Charter Educational Foundation Project,

Series 2016A, (Pre-refunded 6/15/26)

.000

06/15/36

2,802,472

5,495,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North Carolina Charter Educational Foundation Project,

Series 2016A

.000

06/15/36

5,007,200

230,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Quality Education Academy Project, Series 2023A

.250

07/15/33

242,842

460,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Quality Education Academy Project, Series 2023A

.000

07/15/43

472,747

1,800,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Uwharrie Charter Academy, North Carolina, Series

2017A

.500

06/15/29

1,817,485

510,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Uwharrie Charter Academy, North Carolina, Series

2022A

.500

06/15/32

521,952

1,310,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Uwharrie Charter Academy, North Carolina, Series

2022A

.000

06/15/42

1,275,407

1,935,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Vegas Vista Academy, Series 2024A

.500

06/01/39

1,856,087

670,000

(d) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Vegas Vista Academy, Taxable Series 2024B

.000

06/01/32

680,462

1,450,000

(d) Public Finance Authority of Wisconsin, Contract Revenue

Bonds, Mercer Crossing Public Improvement District Project,

Series 2017

.750

03/01/27

1,494,892

2,500,000

(d) Public Finance Authority of Wisconsin, Contract Revenue

Bonds, Mercer Crossing Public Improvement District Project,

Series 2017

.000

03/01/47

2,541,768

1,725,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Corvian Community School, North Carolina Series

2023A

.875

06/15/38

1,726,895

825,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Mater Academy of Nevada, - East Las Vegas Campus

Project, Series 2024A

.000

12/15/34

849,090

700,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Mater Academy of Nevada, - East Las Vegas Campus

Project, Series 2024A

.000

12/15/39

693,602

270,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Mater Academy of Nevada, - East Las Vegas Campus

Project, Series 2024A

.000

12/15/44

253,521

175,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, North Carolina Leadership Academy, Series 2019A

.000

06/15/29

174,024

440,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, North Carolina Leadership Academy, Series 2019A

.000

06/15/39

427,601

1,000,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Pinecrest Academy of Nevada, Sloan Canyon Campus

Project, Refunding Series 2024A

.000

07/15/34

974,183

750,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Pinecrest Academy of Nevada, Sloan Canyon Campus

Project, Refunding Series 2024A

.000

07/15/39

682,139

800,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Pinecrest Academy of Nevada, Sloan Canyon Campus

Project, Refunding Series 2024A

.500

07/15/49

695,110

500,000

Public Finance Authority of Wisconsin, Education Revenue

Bonds, Shining Rock Classical Academy, Series 2022A

.625

06/15/37

478,347

750,000

Public Finance Authority of Wisconsin, Education Revenue

Bonds, Shining Rock Classical Academy, Series 2022A

.875

06/15/42

689,090

185,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, The Capitol Encore Academy, Series 2019A

.750

06/01/29

184,683

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

1,000,000

(d) Public Finance Authority of Wisconsin, Education Revenue

Bonds, The Franklin School of Innovation, Series 2022A

.000

%

01/01/42

$

891,664

44,970,000

(d) Public Finance Authority of Wisconsin, Educational Facilities

Revenue Bonds, Lindenwood Education system, Series 2025A

.500

06/01/35

48,105,488

100,000

(d) Public Finance Authority of Wisconsin, Educational Facility

Revenue Bonds, LEAD Academy Project, Series 2016A

.250

08/01/26

98,404

2,000,000

Public Finance Authority of Wisconsin, Exempt Facilities

Revenue Bonds, National Gypsum Company Project, Refunding

Series 2016, (AMT)

.000

08/01/35

1,934,196

35,520,000

(d),(g)

Public Finance Authority of Wisconsin, Limited Obligation

Grant Revenue Bonds, American Dream @ Meadowlands

Project, Series 2017A

.250

08/01/27

28,416,000

725,000

(d),(g)

Public Finance Authority of Wisconsin, Limited Obligation

Grant Revenue Bonds, American Dream @ Meadowlands

Project, Series 2017A

.750

08/01/31

558,250

30,370,000

(d) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream @ Meadowlands

Project, Series 2017

.000

12/01/27

24,296,000

13,500,000

(d) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream @ Meadowlands

Project, Series 2017

.000

12/01/50

10,800,000

45,645,000

(d) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream Meadowlands Project,

Series 2017

.500

12/01/37

36,516,000

31,415,000

(d) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream Meadowlands Project,

Series 2017

.750

12/01/42

25,132,000

6,965,000

(d) Public Finance Authority of Wisconsin, Multifamily Housing

Revenue Bonds, Promenade Apartments Project, Series 2024

.250

02/01/39

7,066,826

1,790,000

(d) Public Finance Authority of Wisconsin, Project Revenue Bonds,

Irving Convention Center Hotel Project, First Tier Series

2017A-2

.000

01/01/50

1,858,685

8,278,089

(d) Public Finance Authority of Wisconsin, Revenue Anticipation

Bonds, Texas Infrastructure Authority Program, Astro Texas

Land Projects, Refunding & Improvement Series 2025

.000

12/15/36

8,289,339

1,700,000

(d),(g)

Public Finance Authority of Wisconsin, Revenue Bonds,

Alabama Proton Therapy Center, Senior Series 2017A

.250

10/01/31

170,000

1,000,000

(d),(g)

Public Finance Authority of Wisconsin, Revenue Bonds,

Alabama Proton Therapy Center, Senior Series 2017B

.500

10/01/47

11,630,000

(d),(g)

Public Finance Authority of Wisconsin, Revenue Bonds, Procure

Proton Therapy Center, Senior Series 2018A

.625

07/01/28

8,141,000

2,155,000

(d) Public Finance Authority of Wisconsin, Revenue Bonds,

Revolution Academy, Refunding Series 2023A

.000

10/01/33

2,244,015

1,820,000

(d) Public Finance Authority of Wisconsin, Revenue Bonds,

Revolution Academy, Refunding Series 2023A

.750

10/01/43

1,838,755

30,000

(d),(h)

Public Finance Authority of Wisconsin, Revenue Bonds,

Roseman University of Health Sciences, Series 2020, (ETM)

.000

04/01/30

31,704

570,000

(d) Public Finance Authority of Wisconsin, Revenue Bonds,

Roseman University of Health Sciences, Series 2020

.000

04/01/30

585,838

10,000,000

(d) Public Finance Authority of Wisconsin, Revenue Bonds,

SearStone CCRC Project, Series 2021A

.000

06/01/56

6,920,696

9,630,000

Public Finance Authority of Wisconsin, Revenue Bonds,

SearStone Retirement Community, Series 2023A

.000

06/01/36

8,754,230

15,825,000

Public Finance Authority of Wisconsin, Revenue Bonds,

SearStone Retirement Community, Series 2023A

.000

06/01/37

15,938,649

1,130,000

Public Finance Authority of Wisconsin, Revenue Bonds,

SearStone Retirement Community, Series 2023A

.000

06/01/41

922,314

2,755,000

Public Finance Authority of Wisconsin, Revenue Bonds, Sky

Harbour LLC Obligated Group Aviation Facilities Project, Series

2021, (AMT)

.000

07/01/36

2,653,504

1,500,000

Public Finance Authority of Wisconsin, Revenue Bonds, Sky

Harbour LLC Obligated Group Aviation Facilities Project, Series

2021, (AMT)

.000

07/01/41

1,338,990

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

1,970,000

Public Finance Authority of Wisconsin, Revenue Bonds, Sky

Harbour LLC Obligated Group Aviation Facilities Project, Series

2021, (AMT)

.250

%

07/01/54

$

1,640,233

1,935,000

Public Finance Authority of Wisconsin, Revenue Bonds, Triad

Educational Services, Inc. Math & Science Academy, Series

2025

.000

06/15/30

1,959,080

2,245,000

Public Finance Authority of Wisconsin, Revenue Bonds, Triad

Educational Services, Inc. Math & Science Academy, Series

2025

.000

06/15/35

2,374,217

2,775,000

(d) Public Finance Authority of Wisconsin, Revenue Bonds, Viticus

Group Project, Series 2022A

.000

12/01/31

2,725,268

545,000

(d) Public Finance Authority of Wisconsin, Revenue Bonds, Viticus

Group Project, Series 2025A

.250

12/01/35

547,572

825,000

(d) Public Finance Authority of Wisconsin, Revenue Bonds, Viticus

Group Project, Series 2025A

.250

12/01/45

831,023

25,435,000

(d),(g)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.125

01/01/33

11,445,750

8,455,000

(d),(g)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.250

01/01/38

3,804,750

2,795,000

(d),(g)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.375

01/01/48

1,257,750

735,000

(a),(g)

Public Finance Authority of Wisconsin, Wisconsin Revenue

Note, KDC Agribusiness LLC Project, Series 2022B

.000

12/31/25

6,345,000

Public Finance Authority, Wisconsin, Exempt Facilities Revenue

Bonds, Celanese Project, Refunding Series 2016C

.300

11/01/30

6,353,234

285,000

(d) Public Finance Authority, Wisconsin, Revenue Bonds, Ocean

Academy Charter School, Series 2021

.000

10/15/31

274,808

570,000

(d) Public Finance Authority, Wisconsin, Revenue Bonds, Ocean

Academy Charter School, Series 2021

.000

10/15/41

524,045

1,000,000

Public Finance Authority, Wisconsin, Revenue Bonds, Texas

Biomedical Research Institute Project, Series 2021A

.000

06/01/48

680,857

17,930,000

(d) Public Finance Authority, Wisconsin, Revenue Bonds, Vonore

Fiber Products Sustainable Packaging Project, Taxable Green

Series 2019

.500

06/01/29

17,445,662

3,800,000

(d) Public Finance Authority, Wisconsin, Tax Increment Revenue

Bonds, Legacy Rochester Hills Project-Rochester Hills,

Michigan, Series 2025

.250

06/01/34

3,871,243

33,895,000

(d) Public Finance Authority, Wisconsin, Tax Increment Revenue

Senior Bonds, World Center Project Series 2024A

.000

06/01/41

34,112,874

4,600,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

06/30/60

4,733,243

11,550,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

12/31/65

11,884,556

4,000,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.500

12/31/65

4,379,418

1,285,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Bellin Memorial Hospital Incorporated Series 2022B

.250

12/01/48

1,338,867

1,000,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Marshfield Clinic Health System, Inc., Series 2017C

.000

02/15/47

1,001,804

2,130,000

(d) Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Rocket Education Obligated Group, Series 2017C

.250

06/01/40

2,062,623

235,000

(g) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, American Baptist Homes of the

Midwest Obligated Group, Refunding Series 2017

.375

08/01/27

209,150

4,425,000

(g) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, American Baptist Homes of the

Midwest Obligated Group, Refunding Series 2017

.000

08/01/27

3,938,250

4,015,000

(g) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, American Baptist Homes of the

Midwest Obligated Group, Refunding Series 2017

.000

08/01/32

3,082,403

1,000,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Clement Manor, Inc., Series 2019

.250

08/01/34

978,926

2,300,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Clement Manor, Inc., Series 2019

.500

08/01/39

2,182,635

#### Portfolio of Investments September 30, 2025
(continued)

#### Short Duration High Yield

See Notes to Financial Staements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

1,355,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Hope Christian Schools Obligated

Group, Series 2021

.000

%

12/01/31

$

1,162,899

2,550,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Hope Christian Schools Obligated

Group, Series 2021

.000

12/01/41

1,877,380

6,250,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Hospital Sisters Services, Inc.,

Series 2025A

.000

08/15/48

6,479,645

3,000,000

(h) Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Marshfield Clinic Health System,

Inc., Series 2020B-2, (Pre-refunded 8/15/26), (Mandatory Put

2/15/27)

.000

02/15/51

3,061,884

485,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Mile Bluff Medical Center, Inc.,

Series 2014

.000

05/01/26

483,744

1,000,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Mile Bluff Medical Center, Inc.,

Series 2014

.125

05/01/29

999,996

490,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, PHW Oconomowoc, Inc. Project,

Series 2018

.150

10/01/29

487,280

1,600,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Three Pillars Senior Living

Communities, Series 2024B-1

.400

08/15/29

1,600,173

2,500,000

(d) Wisconsin Housing and Economic Development Authority,

Multifamily Housing Bonds, Meadow Village Project Series

2020A

.000

07/01/37

2,290,332

TOTAL WISCONSIN

443,716,877

TOTAL MUNICIPAL BONDS

(Cost $6,040,618,821)

5,800,560,280

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

4635964

VARIABLE RATE SENIOR LOAN INTERESTS - 0.1%

4635964

CAPITAL GOODS - 0.0%

1,029,408

(a),(g)

KDC Agribusiness Fairless Hills LLC

.000

09/17/26

TOTAL CAPITAL GOODS

HEALTH CARE EQUIPMENT & SERVICES - 0.1%

1,940,593

(a) Jackson Hospital

.000

11/04/25

1,940,593

2,695,268

(a) Jackson Hospital, Inc. and Jackson Hospital Financing, LLC

.000

12/16/25

2,695,268

TOTAL HEALTH CARE EQUIPMENT & SERVICES

4,635,861

TOTAL VARIABLE RATE SENIOR LOAN INTERESTS

(Cost $5,651,661)

4,635,964

TOTAL LONG-TERM INVESTMENTS

(Cost $6,085,994,710)

5,841,643,246

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM INVESTMENTS - 1.7%

99,825,000

REPURCHASE AGREEMENTS - 1.7%

99,825,000

99,825,000

(k) Fixed Income Clearing Corporation

.150

10/01/25

99,825,000

TOTAL REPURCHASE AGREEMENTS

(Cost $99,825,000)

99,825,000

TOTAL SHORT-TERM INVESTMENTS

(Cost $99,825,000)

99,825,000

TOTAL INVESTMENTS - 99.1%

(Cost $6,185,819,710)

5,941,468,246

FLOATING RATE OBLIGATIONS - (3.4)%

(201,550,000)

OTHER ASSETS & LIABILITIES, NET - 4.3%

255,784,533

NET ASSETS - 100%

$

5,995,702,779

See Notes to Financial Staements

Investments in Derivatives

AMT

Alternative Minimum Tax

ETF

Exchange-Traded Fund

ETM

Escrowed to maturity

IF

Inverse floating rate security issued by a tender option bond ("TOB") trust, the interest rate on which varies inversely with the

Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is

reduced by the expenses related to the TOB trust.

LIBOR

London Inter-Bank Offered Rate

M

Month

SIFMA

Securities Industry and Financial Market Association

SOFR

Secured Overnight Financing Rate

TSFR1M

CME Term Secured Overnight Financing Rate 1 Month

TSFR3M

CME Term Secured Overnight Financing Rate 3 Month

UB

Underlying bond of an inverse floating rate trust reflected as a financing transaction. Inverse floating rate trust is a Recourse Trust

unless otherwise noted.

(a) For fair value measurement disclosure purposes, investment classified as Level 3.

(b) Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.

(c) Affiliated holding

(d) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the fiscal period, the aggregate value of these securities is $2,394,928,911 or 40.3% of Total Investments.

(e) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse

floating rate transactions.

(f) Floating or variable rate security includes the reference rate and spread, unless the variable rate is based on the underlying asset of

the security. Coupon rate reflects the rate at period end.

(g) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of

bankruptcy.

(h) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely

payment of principal and interest.

(i) When-issued or delayed delivery security.

(j) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding.

The rate shown is the coupon as of the end of the fiscal period.

(k) Agreement with Fixed Income Clearing Corporation, 4.150% dated 9/30/25 to be repurchased at $99,836,508 on 10/1/25,

collateralized by Government Agency Securities, with coupon rate 4.500% and maturity date 5/31/29, valued at $101,821,605.

Futures Contracts - Short

Description

Number of

Contracts

Expiration

Date

Notional

Amount

Value

Unrealized

Appreciation

(Depreciation)

U.S. Treasury 10-Year Note

(3,308)

12/25

$

(370,446,238)

$

(372,150,000)

$

(1,703,762)

U.S. Treasury 5-Year Note

(1,214)

12/25

(132,395,567)

(132,563,110)

(167,543)

Total

$(502,841,805)

$(504,713,110)

$(1,871,305)

#### Portfolio of Investments September 30, 2025

#### Strategic Municipal Opportunities
See Notes to Financial Statements

(Unaudited)

SHARES

DESCRIPTION

VALUE

LONG-TERM INVESTMENTS - 99.0%

COMMON STOCKS - 0.0%

MATERIALS - 0.0%

(a),(b)

Palouse Fiber Holdings LLC

$

TOTAL MATERIALS

TOTAL COMMON STOCKS

(Cost $2,250)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

5059479

CORPORATE BONDS - 0.5%

5059479

HEALTH CARE EQUIPMENT & SERVICES - 0.4%

$

2,750,000

Care New England Health System

.500

%

09/01/26

2,741,406

2,000,000

Toledo Hospital/The

.015

11/15/48

1,900,000

TOTAL HEALTH CARE EQUIPMENT & SERVICES

4,641,406

REAL ESTATE MANAGEMENT & DEVELOPMENT - 0.1%

477,476

(a),(c)

Benloch Ranch Improvement Association No 12022 2022

.750

12/01/39

418,073

TOTAL REAL ESTATE MANAGEMENT & DEVELOPMENT

418,073

TOTAL CORPORATE BONDS

(Cost $4,547,498)

5,059,479

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

1081207039

MUNICIPAL BONDS - 98.5%

1081207039

ALABAMA - 4.6%

600,000

Alabama State University, General Tuition and Fee Revenue

Bonds, Series 2025

.500

09/01/45

644,537

660,000

Alabama State University, General Tuition and Fee Revenue

Bonds, Series 2025

.750

09/01/50

711,854

710,000

(c) Baldwin County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, Novelis Corporation

Project, Series 2025B, (AMT), (Mandatory Put 6/01/32)

.625

06/01/55

712,129

1,500,000

Birmingham-Jefferson Civic Center Authority, Alabama, Special

Tax Bonds, Series 2018A

.000

07/01/38

1,496,346

1,500,000

Birmingham-Jefferson Civic Center Authority, Alabama, Special

Tax Bonds, Series 2018A

.000

07/01/43

1,395,765

5,000,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2023A, (Mandatory Put 10/01/30)

.250

01/01/54

5,373,575

10,250,000

Black Belt Energy Gas District, Alabama, Gas Project Revenue

Bonds, Series 2025A, (Mandatory Put 5/01/32)

.250

05/01/56

10,667,571

4,280,000

Hoover Industrial Development Board, Alabama,

Environmental Improvement Revenue Bonds, United States

Steel Corporation Proejcet, Green Series 2020, (AMT),

(Mandatory Put 11/01/30)

.375

11/01/50

4,707,864

1,000,000

Hoover Industrial Development Board, Alabama,

Environmental Improvement Revenue Bonds, United States

Steel Corporation Proejcet, Series 2019, (AMT)

.750

10/01/49

1,010,699

2,600,000

Mobile County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC

Project, Series 2024A, (AMT)

.000

06/01/54

2,504,030

2,025,000

Mobile County Industrial Development Authority, Alabama,

Solid Waste Disposal Revenue Bonds, AM/NS Calvert LLC

Project, Series 2024B, (AMT)

.750

12/01/54

1,874,545

240,000

Mobile Spring Hill College Educational Building Authority,

Alabama, Revenue Bonds, Spring Hill College Project, Series

2015

.875

04/15/45

168,542

8,000,000

Southeast Energy Authority, Alabama, A Cooperative District

Energy Supply Revenue Bonds Series 2024A

.000

11/01/35

8,439,013

10,000,000

Southeast Energy Authority, Alabama, Commodity Supply

Revenue Bonds, Project 4, Series 2022B-1, (Mandatory Put

8/01/28)

.000

05/01/53

10,496,070

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ALABAMA

(continued)

$

500,000

UAB Medicine Finance Authority, Alabama, Revenue Bonds,

Series 2017B-2

.000

%

09/01/41

$

505,496

TOTAL ALABAMA

50,708,036

ARIZONA - 2.8%

810,000

(c) Arizona Industrial Development Authority, Arizona, Economic

Development Revenue Bonds, Linder Village Project in

Meridian, Ada County, Idaho, Series 2020

.000

06/01/31

822,216

210,000

(c) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Academies of Math & Science Projects, Series

2019

.000

07/01/54

188,757

1,240,000

(c) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Heritage Academy - Gateway and Laveen

Pojects, Series 2021B

.000

07/01/51

1,057,412

8,000,000

(c) Arizona Industrial Development Authority, Arizona, Education

Revenue Bonds, Heritage Academy - Gateway and Laveen

Pojects, Taxable Series 2021A

.000

07/01/51

6,822,014

5,500,000

(c) Arizona Industrial Development Authority, Arizona, Hotel

Revenue Bonds, Provident Group Falcon Properties LLC,

Project, Senior Series 2022A-1

.000

12/01/51

3,653,351

1,625,000

(c) Arizona Industrial Development Authority, Development First

Lien Revenue Bonds, Montanero Project, Alternative Minimum

Tax Series 2025, (AMT)

.750

12/01/55

1,651,956

845,000

Arizona Industrial Development Authority, Senior National

Charter School Revolving Loan Fund Revenue Bonds, Social

Series 2023A

.250

11/01/53

858,294

13,465,000

Chandler Industrial Development Authority, Arizona, Industrial

Development Revenue Bonds, Intel Corporation Project, Series

2007, (AMT), (Mandatory Put 6/15/28)

.100

12/01/37

13,551,704

400,000

(c) Maricopa County Industrial Development Authority, Arizona,

Education Revenue Bonds, Legacy Traditional Schools Projects,

Taxable Series 2019B

.000

07/01/39

403,668

1,000,000

(c) Maricopa County Industrial Development Authority, Arizona,

Educational Facilities Revenue Bonds, Ottawa University

Projects, Series 2020

.250

10/01/40

833,431

1,250,000

Maricopa County Pollution Control Corporation, Arizona,

Pollution Control Revenue Bonds, El Paso Electric Company

Palo Verde Project, Refunding Series 2012A

.500

08/01/42

1,217,461

100,000

(d) Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, Edkey Charter Schools

Project, Series 2016

.250

07/01/36

80,000

25,000

Pima County Industrial Development Authority, Arizona,

Education Facility Revenue Bonds, The Paideia Academies

Project, 2019

.125

07/01/39

23,696

TOTAL ARIZONA

31,163,960

ARKANSAS - 0.9%

7,000,000

(c) Arkansas Development Finance Authority, Arkansas,

Environmental Improvement Revenue Bonds, United States

Steel Corporation, Green Series 2022, (AMT)

.450

09/01/52

6,998,489

1,430,000

(c) Arkansas Development Finance Authority, Industrial

Development Revenue Bonds, Big River Steel Project, Series

2019, (AMT)

.500

09/01/49

1,371,937

1,000,000

Arkansas Development Finance Authority, Revenue Bonds,

Baptist Memorial Health Care, Refunding Series 2020B-1

.000

09/01/37

1,026,741

TOTAL ARKANSAS

9,397,167

CALIFORNIA - 11.0%

105,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/42

116,204

100,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/43

109,496

120,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/44

130,446

260,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

06/01/45

281,437

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

1,515,000

Alameda County Fire Department, California, General

Obligation Bonds, Series 2025

.000

%

06/01/50

$

1,614,195

1,900,000

Anaheim Housing and Public Improvements Authority,

California, Revenue Bonds, Electric Utility Distribution System

Refunding Series 2025B

.000

10/01/41

2,002,793

1,000,000

Antelope Valley Healthcare District, California, Revenue Bonds,

Series 2016A

.250

03/01/36

1,004,144

1,965,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023C,

(Mandatory Put 10/01/31)

.250

01/01/54

2,097,405

2,160,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023E,

(Mandatory Put 9/01/32)

.000

02/01/55

2,359,234

7,445,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2023G,

(Mandatory Put 4/01/30)

.250

11/01/54

8,076,269

4,000,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024B,

(Mandatory Put 12/01/32)

.000

01/01/55

4,238,251

2,985,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024D,

(Mandatory Put 9/01/32)

.000

02/01/55

3,279,220

7,940,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2024G,

(Mandatory Put 8/01/32)

.000

11/01/55

8,411,090

2,500,000

California Community Choice Financing Authority, Clean

Energy Project Revenue Bonds, Green Series 2025D,

(Mandatory Put 7/01/34)

.000

10/01/55

2,690,594

3,815,000

(c) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Creekwood, Series 2021A

.000

02/01/56

2,513,074

4,000,000

California Health Facilities Financing Authority, Revenue Bonds,

Adventist Health System/West, Series 2024A

.250

12/01/42

4,175,789

2,910,000

California Health Facilities Financing Authority, Revenue Bonds,

Adventist Health System/West, Series 2025A

.000

12/01/32

3,186,055

395,000

California Health Facilities Financing Authority, Revenue Bonds,

Adventist Health System/West, Series 2025A

.000

12/01/35

435,356

4,415,000

(c) California Infrastructure and Economic Development Bank,

Revenue Bonds, Brightline West Passenger Rail Project, Green

Bond Series 2025A, (AMT), (Mandatory Put 1/01/35)

.500

01/01/65

4,043,885

100,000

(c) California Municipal Finance Authority, Revenue Bonds,

Creative Center of Los Altos Project Pinewood & Oakwood

Schools, Series 2016B

.000

11/01/36

95,847

5,230,000

California Municipal Finance Authority, Federal Lease Revenue

Bonds, VA Oceanside Health Care Center Project, Taxable

Series 2021

.637

07/01/30

4,743,667

600,000

(c) California Municipal Finance Authority, Revenue Bonds,

California Baptist University, Refunding Series 2025A

.125

11/01/40

614,554

6,785,000

(c) California Pollution Control Financing Authority, Water

Furnishing Revenue Bonds, Poseidon Resources Channelside

LP Desalination Project, Series 2012, (AMT)

.000

07/01/30

6,808,986

1,000,000

(c) California Public Finance Authority, Charter School Lease

Revenue Bonds, California Crosspoint Academy Project, Series

2020A

.125

07/01/55

801,072

400,000

(c) California Public Finance Authority, Charter School Lease

Revenue Bonds, Laverne Elementary Preparatory Academy

Project, Series 2019A

.000

06/15/49

367,621

470,000

(c) California Public Finance Authority, Senior Living Revenue

Bonds, Enso Village, Refunding Green Series 2021A

.000

11/15/46

423,942

2,550,000

California Public Finance Authority, Senior Living Revenue

Bonds, The James, Senior Series 2024A

.500

06/01/54

2,453,831

1,000,000

California Public Finance Authority, Senior Living Revenue

Bonds, The James, Senior Series 2024A

.375

06/01/59

932,372

300,000

(c) California School Finance Authority, Charter School Revenue

Bonds, Rocketship Education Obligated Group, Series 2016A

.000

06/01/31

295,442

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

745,000

(c) California School Finance Authority, Charter School Revenue

Bonds, Scholarship Prep Public Schools Obligated Group,

Series 2020A

.000

%

06/01/60

$

622,388

960,000

California State, General Obligation Bonds, Various Purpose

Refunding Series 2025

.000

08/01/45

1,036,194

815,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/39

921,195

1,345,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/41

1,491,250

1,345,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/42

1,478,882

1,235,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/43

1,349,678

1,250,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/44

1,352,902

1,000,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

08/01/45

1,079,369

1,225,000

(c) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/41

1,225,459

3,000,000

(c) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.250

12/01/56

2,895,782

6,180,000

(c) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Center City Anaheim, Series

2020A

.000

01/01/54

5,555,326

1,390,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/40

1,548,279

1,000,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/42

1,091,744

555,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/43

601,658

555,000

Los Angeles County Public Works Financing Authority,

California, Lease Revenue Bonds, Series 2025J

.000

12/01/45

595,478

700,000

Mount San Antonio Community College District, Los Angeles

County, California, General Obligation Bonds, Election of 2024,

Series 2025A

.000

08/01/44

761,801

600,000

Mount San Antonio Community College District, Los Angeles

County, California, General Obligation Bonds, Election of 2024,

Series 2025A

.000

08/01/46

647,497

1,845,000

Pajaro Valley Health Care District, Santa Cruz and Monterey

Counties, California, General Obligation Bonds, Social Series

2024A

.000

09/01/54

1,813,602

2,500,000

Peralta Community College District, Alameda County,

California, General Obligation, Election of 2018 , Series

2025C-1

.000

08/01/50

2,651,474

1,900,000

Peralta Community College District, Alameda County,

California, General Obligation, Election of 2018 , Series

2025C-1

.000

08/01/54

2,008,278

575,000

(e) Ravenswood City School District, San Diego County, California,

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/41

286,080

585,000

(e) Ravenswood City School District, San Diego County, California,

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/42

272,708

1,060,000

(e) Ravenswood City School District, San Diego County, California,

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/48

346,460

965,000

(e) Ravenswood City School District, San Diego County, California,

General Obligation Bonds, Election 2022 Series 2025B

.000

08/01/50

281,647

1,265,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area

1, Refunding Series 2022A-1 - AGM Insured

.000

09/01/42

1,346,390

1,265,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area

1, Subordinate Series 2022B-2

.000

09/01/42

1,282,832

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

CALIFORNIA

(continued)

$

1,040,000

Sacramento County, California, Airport System Revenue Bonds,

Refunding Senior Series 2018C, (AMT)

.000

%

07/01/38

$

1,063,388

1,245,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/40

1,402,634

840,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/41

936,501

1,730,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/42

1,912,729

2,680,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/43

2,938,113

620,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/44

674,738

765,000

San Francisco Bay Area Rapid Transit District, California,

General Obligation Bonds, Election of 2016, Green Series

2025E-1

.000

08/01/45

828,966

1,275,000

San Francisco City and County, California, Multifamily Housing

Revenue Bonds, Sunnydale Hope SF Block 9, Series 2025B-1

.000

02/01/46

1,313,137

1,340,000

San Francisco City and County, California, Multifamily Housing

Revenue Bonds, Sunnydale Hope SF Block 9, Series 2025B-2,

(Mandatory Put 8/01/28)

.350

08/01/29

1,359,506

750,000

San Francisco Community College District, California, General

Obligation Bonds, Taxable Election 2020 Series 2020A-1

.165

06/15/41

601,993

1,025,000

San Francisco Unified School District, California, General

Obligation Bonds, 2024 Election Series 2025A

.000

06/15/43

1,096,533

500,000

San Ysidro School District, San Diego County, California,

General Obligation Bonds, 2020 Election Measure T, Series

2025C - BAM Insured

.000

08/01/47

533,527

1,500,000

San Ysidro School District, San Diego County, California,

General Obligation Bonds, 2020 Election Measure U, Series

2025C - BAM Insured

.000

08/01/47

1,600,581

1,500,000

San Ysidro School District, San Diego County, California,

General Obligation Bonds, 2020 Election Measure U, Series

2025C - BAM Insured

.000

08/01/48

1,595,771

TOTAL CALIFORNIA

120,704,741

COLORADO - 12.0%

2,630,000

64th Avenue ARI Authority, Adams County, Colorado, Special

Revenue Bonds, Series 2020

.500

12/01/43

2,638,817

1,420,000

(c) Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2024

.500

12/01/44

1,390,765

1,000,000

(c) Aerotropolis Regional Transportation Authority, Colorado,

Special Revenue Bonds, Series 2024

.750

12/01/54

988,094

6,250,000

Aurora Highlands Community Authority Board, Adams

County, Colorado, Special Tax Revenue Bonds, Refunding &

Improvement Series 2021A

.750

12/01/51

5,909,929

1,000,000

Aviation Station North Metropolitan District 2, Denver County,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2019A

.000

12/01/48

968,153

1,500,000

Belford North Metropolitan District, Douglas County, Colorado,

General Obligation Limited Tax Bonds, Series 2020A

.500

12/01/50

1,331,626

1,000,000

Bennett Ranch Metropolitan District 1, Adams County,

Colorado, General Obligation Limited Tax Bonds, Convertible

to Unlimited Tax Series 2021A

.000

12/01/51

844,113

1,000,000

Broadway Station Metropolitan District 2, Denver City and

County, Colorado, General Obligation Limited Tax Bonds,

Convertible to Unlimited Series 2019A

.125

12/01/48

797,222

1,500,000

(c) Centerra Metropolitan District 1, Loveland, Colorado, Special

Revenue Bonds, Refunding & Improvement Series 2017

.000

12/01/37

1,500,538

5,000,000

(c) Centerra Metropolitan District 1, Loveland, Colorado, Special

Revenue Bonds, Refunding & Improvement Series 2017

.000

12/01/47

4,854,502

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

1,010,000

Colorado Bridge and Tunnel Enterprise, Colorado, Senior

Infrastructure Revenue Bonds, Series 2025A

.250

%

12/01/50

$

1,071,678

1,390,000

Colorado Bridge and Tunnel Enterprise, Colorado, Senior

Infrastructure Revenue Bonds, Series 2025A

.250

12/01/54

1,471,284

400,000

Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds World Compass Academy Project,

Series 2017

.375

10/01/37

362,294

100,000

(c) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, New Summit Charter Academy Project,

Series 2021A

.000

07/01/41

82,349

100,000

(c) Colorado Educational and Cultural Facilities Authority, Charter

School Revenue Bonds, New Summit Charter Academy Project,

Series 2021A

.000

07/01/51

72,941

7,650,000

(c) Colorado Educational and Cultural Facilities Authority, Cultural

Facilities Revenue Bonds, Stanley Project, Senior Lien Series

2025A-1

.875

02/01/59

7,948,705

2,500,000

(c) Colorado Educational and Cultural Facilities Authority, Cultural

Facilities Revenue Bonds, Stanley Project, Taxable Senior Lien

Series 2025A-2

.000

02/01/45

2,563,767

500,000

(c),(d)

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Cappella of Grand Junction Project, Series 2019

.000

12/01/54

352,500

585,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2025A

.125

12/01/45

594,837

1,180,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2025A

.125

12/01/50

1,185,541

950,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Covenant Living Communities & Services, Series 2025A

.125

12/01/55

950,739

500,000

(c),(d)

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

Sunny Vista Living Center Project, Refunding & Improvement

Series 2015A

.750

12/01/35

345,905

250,000

Colorado International Center Metropolitan District 14, Denver,

Colorado, Limited Tax General Obligation Bonds, Refunding &

Improvement Series 2018

.875

12/01/46

247,374

500,000

Copper Ridge Metropolitan District, Colorado Springs,

Colorado, Tax Increment and Sales Tax Supported Revenue

Bonds, Series 2019

.000

12/01/39

493,210

500,000

Crowfoot Valley Ranch Metropolitan District No. 2, Douglas

County, Colorado, Limited Tax General Obligation Bonds,

Refunding Subordinate Series 2024B

.125

12/15/54

482,175

2,635,000

Dawson Trails Metropolitan District 1, Colorado, In The

Town of Castle Rock, Limited Tax General Obligation Capital

Appreciation Turbo Bonds, Series 2024

.000

12/01/31

1,663,529

3,250,000

Denver Convention Center Hotel Authority, Colorado, Revenue

Bonds, Convention Center Hotel, Refunding Senior Lien Series

2016

.000

12/01/29

3,306,110

998,000

Denver International Business Center Metropolitan District 1,

Denver, Colorado, General Obligation Bonds, Subordinate

Limited Tax Series 2019B

.000

12/01/48

1,003,696

4,900,000

(c) Falcon Area Water and Wastewater Authority (El Paso County,

Colorado), Tap Fee Revenue Bonds, Series 2022A

.750

12/01/34

4,915,488

970,000

(c) Flying Horse Metropolitan District 3, El Paso County, Colorado,

General Obligation Limited Tax Bonds, Refunding Series 2019

.000

12/01/49

969,296

1,000,000

Foothills Metropolitan District, Fort Collins, Colorado, Special

Revenue Bonds, Series 2014

.750

12/01/30

1,000,029

1,665,000

Fourth North Business Improvement District, Silverthorne,

Summit County, Colorado, Special Revenue and Tax Supported

Bonds, Refunding & Improvement Senior Series 2022A

.250

12/01/32

1,684,315

4,445,000

Fourth North Business Improvement District, Silverthorne,

Summit County, Colorado, Special Revenue and Tax Supported

Bonds, Refunding & Improvement Senior Series 2022A

.750

12/01/52

4,412,015

2,000,000

(c) Future Legends Sports Park Metropolitan District 2, Colorado,

Limited Tax General Obligation Bonds, Series 2020A

.500

06/01/50

1,504,599

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

370,000

Hess Ranch Metropolitan District 5, Parker, Colorado, Special

Assessment Revenue Bonds, Special Improvement District 1,

Series 2024A-2

.500

%

12/01/43

$

375,198

970,000

(c) Hess Ranch Metropolitan District 5, Parker, Colorado, Special

Assessment Revenue Bonds, Special Improvement District 2,

Series 2024

.500

12/01/44

969,135

1,000,000

Hess Ranch Metropolitan District 6, Parker, Colorado, Limited

Tax General Obligation Bonds, Series 2020A-1

.000

12/01/49

949,674

1,365,000

(c) Hogback Metropolitan District, Jefferson County, Colorado,

Limited Tax General Obligation Bonds, Convertible to

Unlimited Tax Series 2021A

.000

12/01/51

1,256,184

500,000

Independence Water & Sanitation District, Elbert County,

Colorado, Special Revenue Bonds, Refunding and

Improvement Series 2024

.125

12/01/33

515,063

500,000

Jefferson Center Metropolitan District 1, Arvada, Jefferson

County, Colorado, Special Revenue Bonds, Subordinate Series

2020B

.750

12/15/50

501,026

615,000

Jones District Community Authority Board, Centennial,

Colorado, Special Revenue Convertible Capital Appreciaiton

Bonds, Series 2020A

.750

12/01/50

586,216

1,000,000

Kinston Metropolitan District 5, Loveland, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Series 2020A

.625

12/01/35

1,032,128

1,615,000

(c) Kremmling Memorial Hospital District, Colorado, Certificates of

Participation, Series 2024

.125

12/01/44

1,535,559

1,350,000

(c) Kremmling Memorial Hospital District, Colorado, Certificates of

Participation, Series 2024

.625

12/01/56

1,303,648

1,220,000

Lanterns Metropolitan District 3, Douglas County, Colorado,

General Obligation Bonds, Limited Tax Convertible Capital

Appreciation Series 2023A-2

.000

12/01/53

995,061

660,000

Lanterns Metropolitan District 3, Douglas County, Colorado,

General Obligation Bonds, Limited Tax Series 2023A-1

.250

12/01/53

681,542

3,000,000

(c) Ledge Rock Center Commercial Metropolitan District (In the

Town of Johnstown, Weld County, Colorado), Limited Tax

General Obligation Bonds, Series 2022

.375

11/01/52

3,132,548

500,000

Mayberry Community Authority, Colorado Springs, El Paso

County, Colorado, Special Revenue Bonds, Series 2021A

.000

12/01/41

467,583

500,000

Mayberry Community Authority, Colorado Springs, El Paso

County, Colorado, Special Revenue Bonds, Series 2021A

.000

04/15/51

437,369

500,000

Mountain Sky Metropolitan District, Fort Lupton, Weld County,

Colorado, Limited Tax General Obligation Bonds, Series 2020A

.000

12/01/49

467,782

2,000,000

North Range Metropolitan District 3, Adams County, Colorado,

Limited Tax General Obligation Bonds, Series 2020A-3

.000

12/01/40

2,003,653

1,000,000

Northfield Metropolitan District 2, Fort Collins, Larimer County,

Colorado, Limited Tax General Obligation Bonds, Series 2020A

.000

12/01/50

871,719

500,000

(d) Painted Prairie Public Improvement Authority, Aurora,

Colorado, Special Revenue Bonds, Series 2019

.000

12/01/29

460,925

10,025,000

(d) Painted Prairie Public Improvement Authority, Aurora,

Colorado, Special Revenue Bonds, Series 2019

.000

12/01/39

8,957,080

290,000

(c) Peak Metropolitan District 1, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Bonds, Series 2021A

.000

12/01/51

242,182

1,550,000

Peak Metropolitan District 3, Colorado Springs, El Paso County,

Colorado, Limited Tax General Obligation Bonds, Series

2022A-1

.500

12/01/52

1,561,994

1,055,000

Pinon Pines Metropolitan District No. 3, El Paso County,

Colorado, General Obligation Limited Tax Convertible Capital

Appreciation Bonds, Series 2025

.875

12/01/54

936,293

7,935,000

Pioneer Community Authority Board (Weld County, Colorado),

Special Revenue Bonds, Series 2022

.500

12/01/34

7,673,204

895,000

(c) Prairie Center Metopolitan District No. 3, In the City of

Brighton, Adams County, Colorado, Limited Property Tax

Supported Primary Improvements Revenue Bonds, Refunding

Series 2017A

.125

12/15/27

899,402

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

2,000,000

(c) Prairie Center Metopolitan District No. 3, In the City of

Brighton, Adams County, Colorado, Limited Property Tax

Supported Primary Improvements Revenue Bonds, Refunding

Series 2017A

.000

%

12/15/41

$

1,999,807

500,000

Prairie Center Metropolitan District No. 3, Brighton, Colorado,

Special Revenue Bonds, Park and Recreation Improvements

Series 2018

.125

12/15/42

478,293

1,481,000

Prairie Farm Metropolitan District, In the City of Commerce

City, Adams County, Colorado, Limited Tax Convertible to

Unlimited Tax, General Obligation Bonds, Series 2018A

.250

12/01/48

1,453,944

1,000,000

Rampart Range Metropolitan District 1, Lone Tree, Colorado,

Limited Tax Supported and Special Revenue Bonds, Refunding

& Improvement Series 2017

.000

12/01/42

1,006,707

2,000,000

Rampart Range Metropolitan District 5, Lone Tree, Douglas

County, Colorado, Limited Tax Supported and Special Revenue

Bonds, Series 2021

.000

12/01/41

1,768,771

1,250,000

(c) Reagan Ranch Metropolitan District 1, Colorado Springs,

Colorado, General Obligation Bonds, Limited Tax & Special

Revenue, Series 2025

.125

12/01/54

1,221,685

1,000,000

Redtail Ridge Metropolitan District, City of Louisville, Boulder

County, Colorado, General Obligation Limited Tax Capital

Appreciation Turbo Bonds, Series 2025

.000

12/01/32

615,940

1,215,000

(c) Ridge at Johnstown Metropolitan District 8, Larimer County,

Colorado, Special Assessment Revenue Bonds, Special

Improvement District 1, Series 2024

.875

12/01/44

1,137,770

1,016,000

Silver Leaf Metropolitan District, Jefferson County, Colorado,

General Obligation Limited Tax Bonds, Series 2021A-3

.250

12/01/50

901,032

2,725,000

Silverstone Metropolitan District 3, Weld County, Colorado,

General Obligation and Special Revenue Bonds, Limited Tax

Series 2023

.750

12/01/45

2,762,647

1,220,000

SouthGlenn Metropolitan District, Colorado, Special Revenue

Bonds, Refunding Series 2016

.000

12/01/30

1,221,108

500,000

(c),(f)

St. Vrain Lakes Metropolitan District 4, Weld County, Colorado,

General Obligation Bonds, Firestone Convertible Capital

Appreciation Limited Tax Series 2024A

.000

09/20/54

346,222

610,000

(c) STC Metropolitan District 2, Superior, Boulder County,

Colorado, Limited Tax General Obligation and Special Revenue

Bonds, Refunding Second Lien Series 2025A-2

.250

12/01/55

620,201

1,650,000

Sterling Ranch Metropolitan District 1, El Paso County,

Colorado, General Obligation Limited Tax Bonds, Series 2020

.000

12/01/40

1,616,458

1,273,000

Vauxmont Metropolitan District, Arvada, Colorado, Limited Tax

General Obligation and Special Revenue Bonds, Convertible

to Unlimited Tax Refunding Subordinate Series 2019 - AGM

Insured

.250

12/15/50

981,485

500,000

Velocity Metropolitan District 3, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Series 2019

.125

12/01/34

495,760

3,820,000

Velocity Metropolitan District 3, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Series 2019

.375

12/01/39

3,723,501

1,600,000

Velocity Metropolitan District 5, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Convertible Capital

Appreciation Series 2020A-2

.000

12/01/50

1,362,894

2,000,000

Velocity Metropolitan District 5, In the City of Aurora, Colorado,

Limited Tax General Obligation Bonds, Series 2020A-1

.375

12/01/50

1,859,851

1,500,000

Verve Metropolitan District 1, Jefferson County and the City

and County of Broomfield, Colorado, General Obligation

Bonds, Refunding and Improvement Limited Tax Series 2021

.000

12/01/51

1,302,657

2,600,000

(c) West Globeville Metropolitan District 1, Denver, Colorado,

General Obligation Limited Tax Bonds, Series 2024A-2

.000

12/01/54

1,665,902

770,000

(c) West Globeville Metropolitan District 1, Denver, Colorado,

Special Assessment Revenue Bonds, Special Improvement

District 1, Series 2024

.750

12/01/44

748,442

2,000,000

(c) Windler Public Improvement Authority, Aurora, Colorado,

Limited Tax Supported Revenue Bonds, Series 2021A-1

.125

12/01/51

1,529,023

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

COLORADO

(continued)

$

500,000

Windsor Highlands Metropolitan District 9, Windsor, Larimer

County, Colorado, Limited Tax Supported Revenue Bonds,

Series 2019

.000

%

12/01/39

$

483,440

1,856,000

Woodmen Heights Metropolitan District 2, El Paso County,

Colorado, General Obligation Limited Tax Bonds, Refunding

Subordinate Series 2020B-2

.500

12/15/40

1,868,019

TOTAL COLORADO

131,891,862

CONNECTICUT - 0.4%

100,000

(c) Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Healthcare Facility Expansion Church Home of

Hartford Inc. Project, Series 2016A

.000

09/01/46

93,914

1,330,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

07/01/34

1,347,364

1,250,000

Connecticut Health and Educational Facilities Authority,

Revenue Bonds, Nuvance Health Series 2019A

.000

07/01/36

1,255,826

1,255,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2016B-1

.950

11/15/31

1,237,203

TOTAL CONNECTICUT

3,934,307

DELAWARE - 0.2%

335,000

(c) Bridgeville, Delaware, Special Obligation Bonds, Heritage

Shores Special Development District, Series 2024

.625

07/01/53

340,265

1,500,000

Delaware Health Facilities Authroity, Revenue Bonds, Beebe

Medical Center Project, Series 2018

.000

06/01/43

1,457,810

515,000

(g) Delaware State Housing Authority, Senior Single Family

Mortgage Revenue Bonds, Series 2024B, (UB)

.750

07/01/54

516,521

35,000

Kent County, Delaware, Student Housing & Dining Facility

Revenue Bonds, Collegiate Housing Foundation - Dover LLC

Delaware State University Project, Series 2018A

.000

07/01/48

32,794

TOTAL DELAWARE

2,347,390

DISTRICT OF COLUMBIA - 0.0%

375,000

District of Columbia Revenue Bonds, Rocketship Education DC

Public Charter School Inc., Obligated Group -Issue 3, Series

2024A

.750

06/01/54

374,459

TOTAL DISTRICT OF COLUMBIA

374,459

FLORIDA - 6.9%

1,000,000

Ave Maria Stewardship Community District, Florida, Capital

Improvement Revenue Bonds, Ave Maria National Project,

Series 2021

.750

05/01/41

866,911

240,000

(c) Cape Coral Health Facilities Authority, Florida, Senior Housing

Revenue Bonds, Gulf Care Inc. Project, Series 2015

.750

07/01/30

183,068

3,225,000

(c) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, Franklin Academy Projects, Series 2020

.000

12/15/40

3,050,237

255,000

(c) Capital Trust Agency, Florida, Educational Facilities Lease

Revenue Bonds, South Tech Schools Project, Series 2020A

.000

06/15/55

222,663

900,000

(c) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, Imagine School at North Manatee, Series 2021A

.000

06/01/56

758,622

1,000,000

(c) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, Pineapple Cove Classical Academy, Series 2019A

.250

07/01/49

893,702

100,000

(c) Capital Trust Agency, Florida, Educational Facilities Revenue

Bonds, The Florida Charter Educational Foundation, Inc.

Projects, Series 2018A

.375

06/15/48

91,294

50,000

(c) Capital Trust Agency, Florida, Revenue Bonds, Babcock

Neighborhood School Inc, Series 2018

.100

08/15/38

51,009

90,000

(c) Capital Trust Agency, Florida, Revenue Bonds, Renaissance

Charter School Project, Series 2017A

.375

06/15/27

89,969

500,000

(c) Capital Trust Agency, Florida, Revenue Bonds, Renaissance

Charter School Project, Series 2019A

.000

06/15/39

477,463

100,000

(c) Capital Trust Agency, Florida, Revenue Bonds, Viera Charter

School Project, Series 2017A

.000

10/15/47

93,423

100,000

(c) Capital Trust Agency, Florida, Revenue Bonds, Viera Charter

School Project, Series 2019A

.000

10/15/39

98,613

1,115,000

(c) Capital Trust Authority, Florida, Educational Facilities Revenue

Bonds, Babcock Neighborhood School Inc Project, Series 2024

.750

08/15/54

1,013,010

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

800,000

(c) Charlotte County Industrial Development Authority, Florida,

Utility System Revenue Bonds, Town & Country Utilities Project,

Series 2025, (AMT)

.125

%

10/01/55

$

825,576

500,000

Eden Hills Community Development District, Lake Alfred,

Florida, Special Assessment Revenue Bonds, Phase 1 Series

2020

.125

05/01/51

424,929

290,000

Edgewater West Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds,

Assessment Area One Series 2024

.500

05/01/54

277,566

100,000

(c) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Florida Charter Foundation Inc.

Projects, Series 2016A

.750

07/15/36

97,641

1,050,000

Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Mater Academy Projects, Series

2020A

.000

06/15/35

1,064,437

990,000

(c) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School Income

Projects, Series 2023A

.000

06/15/33

1,080,788

1,000,000

(c) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School Income

Projects, Series 2023A

.500

06/15/38

1,069,048

1,000,000

(c) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School Income

Projects, Series 2023A

.625

06/15/43

1,057,740

100,000

(c) Florida Development Finance Corporation, Educational

Facilities Revenue Bonds, Renaissance Charter School, Inc.

Projects, Series 2020C

.000

09/15/40

93,264

1,510,000

(c) Florida Development Finance Corporation, Florida, Solid

Waste Disposal Revenue Bonds, Waste Pro USA, Inc. Project,

Series 2019, (AMT)

.000

05/01/29

1,530,254

3,000,000

(c) Florida Development Finance Corporation, Florida, Solid

Waste Disposal Revenue Bonds, Waste Pro USA, Inc. Project,

Series 2023, (AMT), (Mandatory Put 7/01/26)

.125

07/01/32

3,030,649

4,720,000

(c) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024, (AMT), (Mandatory Put

7/15/28)

.000

07/15/32

2,944,100

1,700,000

(g) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT),

(UB)

.000

07/01/44

1,673,598

2,235,000

(g) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Brightline

Trains Florida LLC Issue, Series 2024 - AGM Insured, (AMT),

(UB)

.250

07/01/53

2,185,959

20,395,000

(c) Florida Development Finance Corporation, Revenue Bonds,

Brightline Florida Passenger Rail Expansion Project, Series

2025B, (AMT), (Mandatory Put 6/15/26)

.000

07/01/57

17,386,284

450,000

(c) Florida Development Finance Corporation, Student Housing

Revenue Bonds, SPP - Tampa I - LLC The Henry Project, Series

2024A-1

.250

06/01/54

429,482

3,500,000

Greater Orlando Aviation Authority, Florida, Special Purpose

Airport Facilities Revenue Bonds, JetBlue Airways Corporation,

Series 2013, (AMT)

.000

11/15/36

3,500,021

495,000

(c) Hidden Creek Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 3,

Series 2019A-1

.250

11/01/39

505,817

470,000

Hobe-Saint Lucie Conservancy District, Florida, Special

Assessment Revenue Bonds, Improvement Unit 1A, Series

2024

.750

05/01/31

490,088

1,555,000

Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Southeast Project, Series 2025

.000

05/01/35

1,580,403

1,145,000

Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Southeast Project, Series 2025

.500

05/01/40

1,173,458

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

555,000

Lakewood Ranch Stewardship District, Florida, Special

Assessment Revenue Bonds, Southeast Project, Series 2025

.800

%

05/01/45

$

567,011

415,000

Langley South Community Development District, Florida,

Special Assessment Revenue Bonds, Mascotte Assessment

Area One Series 2024

.125

05/01/44

405,761

1,570,000

Langley South Community Development District, Florida,

Special Assessment Revenue Bonds, Mascotte Assessment

Area One Series 2024

.400

05/01/55

1,522,797

995,000

Magic Place Community Development District, Osceola

County, Florida, Special Assessment Revenue Bonds, Series

2019

.500

05/01/51

860,201

625,000

Miami Beach Redevelopment Agency, Florida, Tax Increment

Revenue Bonds, City Center/Historic Convention Village,

Refunding Series 2025

.000

02/01/42

656,945

1,325,000

Miami Beach Redevelopment Agency, Florida, Tax Increment

Revenue Bonds, City Center/Historic Convention Village,

Refunding Series 2025

.000

02/01/43

1,378,492

580,000

Miami Beach Redevelopment Agency, Florida, Tax Increment

Revenue Bonds, City Center/Historic Convention Village,

Refunding Series 2025

.000

02/01/44

601,453

100,000

(c) Miami Dade County Industrial Development Authority, Florida,

Educational Facilities Revenue Bonds, South Florida Autism

Charter School Project, Series 2017

.875

07/01/37

100,584

1,635,000

Miami, Florida, Limited Ad Valorem Tax Bonds, Forever

Infrastructure Programs Series 2024A

.500

01/01/49

1,776,992

1,070,000

(g) Miami-Dade County, Florida, Seaport Revenue Bonds,

Refunding Series 2022A, (AMT), (UB)

.250

10/01/52

1,084,243

1,355,000

Miami-Dade County, Florida, Special Obligation Bonds,

Subordinate Series 2009 - BAM Insured

.000

10/01/37

858,488

105,000

(c) Mirada Community Development District, Florida, Capital

Improvement Bonds, Assessment Area 3 Series 2024

.750

05/01/31

106,814

260,000

(c) Mirada Community Development District, Florida, Capital

Improvement Bonds, Assessment Area 3 Series 2024

.625

05/01/44

258,812

235,000

(c) North AR-1 of Pasco Community Development District, Florida,

Capital Improvement Revenue Bonds, Assessment Area 5,

Series 2024

.750

05/01/44

238,409

715,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/41

771,189

880,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/42

939,782

900,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/43

954,533

710,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/44

748,674

1,100,000

Orlando, Florida, Contract Tourist Development Tax Payments

Revenue Bonds, Camping World Stadium, Series 2025

.250

11/01/45

1,155,837

1,250,000

Sarasota County Public Hospital District, Florida, Hospital

Revenue Bonds, Sarasota Memorial Hospital Project, Series

2018

.000

07/01/41

1,268,211

1,560,000

Seminole County Industrial Development Authority, Florida,

Retirement Facility Revenue Bonds, Legacy Pointe At UCF

Project, Series 2019A

.500

11/15/49

1,412,845

1,145,000

South Broward Hospital District, Florida, Hospital Revenue

Bonds, South Broward Hospital District Obligated Group,

Refunding Series 2016A

.000

05/01/44

1,064,229

1,225,000

Southeast Overtown/Park West Community Redevelopment

Agency, Florida, Tax Increment Revenue Bonds, Series 2025A

.000

03/01/38

1,325,525

670,000

Southeast Overtown/Park West Community Redevelopment

Agency, Florida, Tax Increment Revenue Bonds, Series 2025A

.000

03/01/39

720,328

570,000

Southeast Overtown/Park West Community Redevelopment

Agency, Florida, Tax Increment Revenue Bonds, Series 2025A

.250

03/01/41

615,137

615,000

(c) Three Rivers Community Development District, Florida, Special

Assessment Revenue Bonds, South Assessment Area Series

2021B

.625

05/01/36

609,477

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

FLORIDA

(continued)

$

1,420,000

Tradition Community Development District 9, Port Saint Lucie,

Florida, Special Assessment Bonds, Series 2021

.000

%

05/01/41

$

1,115,278

265,000

Two Lakes Community Development District, Hialeah, Florida,

Special Assessment Bonds, Series 2024

.000

05/01/44

268,138

250,000

(c) V-Dana Community Development District, Lee County, Florida,

Special Assessment Bonds, Area 2 - 2025 Project, Series 2025

.375

05/01/45

248,473

420,000

(c) Village Community Development District 15, Florida, Special

Assessment Revenue Bonds, Series 2023

.250

05/01/28

425,806

940,000

(c) Village Community Development District 15, Florida, Special

Assessment Revenue Bonds, Series 2024

.800

05/01/55

893,137

TOTAL FLORIDA

75,264,687

GEORGIA - 1.2%

2,080,000

Atlanta Development Authority, Georgia, Economic

Development Certificates, Gulch Enterprise Zone Project,

Convertible Capital Appreciation Series 2024A-1 Class A

.500

12/15/48

1,827,047

1,100,000

(c) Atlanta Development Authority, Georgia, Revenue Bonds,

Westside Gulch Area Project, Senior Series 2024A-2

.500

04/01/39

1,117,627

1,500,000

(d) Atlanta Development Authority, Georgia, Senior Health Care

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.750

01/01/35

855,000

500,000

(d) Atlanta Development Authority, Georgia, Senior Health Care

Facilities Revenue Bonds, Georgia Proton Treatment Center

Project, Current Interest Series 2017A-1

.000

01/01/40

285,000

595,000

Fayette County Development Authority, Georgia, Revenue

Bonds, United States Soccer Federation, Inc. Project Series

2024

.000

10/01/42

616,474

645,000

Fayette County Development Authority, Georgia, Revenue

Bonds, United States Soccer Federation, Inc. Project Series

2024

.000

10/01/43

664,054

750,000

(c) Fulton County Residential Care Facilities for the Elderly

Authority, Georgia, Revenue Bonds, Canterbury Court Project,

Series 2019A

.000

04/01/47

698,350

1,000,000

Gainesville and Hall County Hospital Authority, Georgia,

Revenue Anticipation Certificates, Northeast Georgia Health

Services Inc., Series 2021A - BAM Insured

.000

02/15/51

728,382

1,000,000

Griffin-Spalding County Hospital Authority, Georgia, Revenue

Anticipation Certificates, Wellstar Health System Inc., Series

2017A

.000

04/01/42

935,004

2,750,000

(c) Main Street Natural Gas Inc., Georgia, Gas Supply Revenue

Bonds, Series 2022C, (Mandatory Put 11/01/27)

.000

08/01/52

2,767,308

1,915,000

(c) Savannah-Georgia Convention Center Authority, Convention

Center Hotel Second Tier Revenue Bonds, Series 2025B

.000

06/01/50

1,881,157

1,000,000

(c) Savannah-Georgia Convention Center Authority, Convention

Center Hotel Second Tier Revenue Bonds, Series 2025B

.250

06/01/61

1,001,814

TOTAL GEORGIA

13,377,217

HAWAII - 0.0%

500,000

(c) Hawaii Department of Budget and Finance, Special Purpose

Revenue Bonds, Hawaii Pacific University Project, Refunding

Series 2024

.000

07/01/39

480,925

TOTAL HAWAII

480,925

IDAHO - 0.4%

1,485,000

(c) Idaho Falls Auditorium District, Idaho, Certifications of

Participation, Annual Appropriation Series 2021

.250

05/15/51

1,396,838

1,000,000

Idaho Health Facilities Authority, Revenue Bonds, Saint Luke's

Health System Project, Series 2018A

.000

03/01/37

1,028,166

595,000

(g) Idaho Housing and Finance Association, Single Family

Mortgage Revenue Bonds, Series 2024A, (UB)

.650

01/01/54

591,673

1,000,000

(c) Spring Valley Community Infrastructure District 1, Eagle, Idaho,

Special Assessment Bonds, Assessment Area Two, Series 2025

.250

09/01/54

1,020,415

715,000

Spring Valley Community Infrastructure District 1, Eagle, Idaho,

Special Assessment Bonds, Series 2024

.250

09/01/53

727,704

TOTAL IDAHO

4,764,796

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS - 5.2%

$

500,000

Bolingbrook, Illinois, Special Tax Bonds, Special Service Area 1,

Refunding Series 2019

.250

%

03/01/41

$

502,193

1,000,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2016

.000

04/01/46

1,013,261

1,250,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.250

04/01/33

1,378,960

1,250,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.250

04/01/40

1,303,715

1,725,000

Chicago Board of Education, Illinois, Dedicated Capital

Improvement Tax Revenue Bonds, Series 2023

.500

04/01/43

1,786,366

1,335,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Project Series 2015C

.250

12/01/35

1,337,179

1,000,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Refunding Series 2012B

.000

12/01/35

939,034

2,000,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Series 2021A

.000

12/01/34

2,029,707

6,445,000

Chicago Board of Education, Illinois, General Obligation

Bonds, Dedicated Revenues, Series 2023A

.250

12/01/36

6,598,791

1,000,000

Chicago, Illinois, General Airport Revenue Bonds, O'Hare

International Airport, Senior Lien Series 2016G

.000

01/01/52

992,392

2,000,000

Chicago, Illinois, General Obligation Bonds, Refunding Series

2020A

.000

01/01/30

2,108,665

140,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/29

148,442

240,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/30

258,531

2,545,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/31

2,780,845

1,815,000

Chicago, Illinois, Midway Airport Revenue Bonds, Refunding

Senior Lien Series 2023A - BAM Insured

.000

01/01/32

1,999,513

350,000

Chicago, Illinois, Water Revenue Bonds, Refunding Second

Lien Series 2023B - AGM Insured

.000

11/01/37

375,488

5,000,000

Illinois Finance Authority Revenue Bonds, OSF Healthcare

System, Series 2018A - BAM Insured

.125

05/15/47

4,742,162

485,000

(c) Illinois Finance Authority, Charter School Revenue Bonds,

Intrinsic Charter Schools Belmont School Project, Series 2015A

.750

12/01/35

485,582

725,000

(h) Illinois Finance Authority, Revenue Bonds, Ascension Health

Alliance, Series 2016C, (Pre-refunded 2/15/27)

.000

02/15/41

740,315

260,000

Illinois Finance Authority, Revenue Bonds, Dominican

University, Refunding Series 2022

.000

03/01/34

266,813

2,180,000

(c) Illinois Finance Authority, Revenue Bonds, Illinois Institute of

Technology, Series 2025A

.875

09/01/46

2,165,229

1,075,000

(d) Illinois Finance Authority, Revenue Bonds, Lutheran Home and

Services, Series 2019A

.000

11/01/49

744,438

815,000

Illinois Finance Authority, Revenue Bonds, Northshore -

Edward-Elmhurst Health Credit Group, Series 2022A

.000

08/15/47

830,944

1,115,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

and Medical Centers, Refunding Series 2025A

.000

08/15/40

1,192,512

975,000

Illinois Finance Authority, Revenue Bonds, Silver Cross Hospital

and Medical Centers, Refunding Series 2025A

.000

08/15/41

1,029,064

225,000

(g),(h)

Illinois Finance Authority, Revenue Bonds, University of

Chicago, Refunding Series 2015A, (Pre-refunded 10/01/25),

(UB)

.000

10/01/46

225,000

2,500,000

Illinois State, General Obligation Bonds, December Series

2023C

.000

12/01/47

2,536,601

3,210,000

Illinois State, General Obligation Bonds, May Series 2020

.750

05/01/45

3,366,647

1,500,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/42

1,590,829

1,395,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/44

1,460,641

1,070,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/45

1,115,192

1,070,000

Illinois State, General Obligation Bonds, May Series 2024B

.250

05/01/49

1,100,651

2,975,000

Illinois State, General Obligation Bonds, September Series

2025D

.000

09/01/37

3,231,913

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

ILLINOIS

(continued)

$

1,800,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Refunding Series 2022A

.000

%

06/15/39

$

975,007

2,000,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Refunding Series 2022A

.000

06/15/40

1,014,578

1,500,000

Metropolitan Pier and Exposition Authority, Illinois, McCormick

Place Expansion Project Bonds, Series 2015A - BAM Insured

.000

12/15/52

393,239

2,500,000

Metropolitan Pier and Exposition Authority, Illinois, Revenue

Bonds, McCormick Place Expansion Project, Series 2002A -

NPFG Insured

.000

06/15/37

1,538,461

430,000

Morton Grove, Illinois, Tax Increment Revenue Bonds, Sawmill

Station Redevelopment Project, Senior Lien Series 2019

.000

01/01/39

420,283

TOTAL ILLINOIS

56,719,183

INDIANA - 1.7%

1,420,000

(c) Gary Local Public Improvement Bond Bank, Indiana, Economic

Development Revenue Bonds, Drexel Foundation for

Educational Excellence Project, Refunding Series 2020A

.875

06/01/55

1,258,182

1,195,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, Depauw University Project, Series 2019

.000

07/01/37

1,223,753

1,000,000

Indiana Finance Authority, Educational Facilities Revenue

Bonds, Valparaiso University Project, Series 2014

.000

10/01/39

939,106

110,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, United States Steel Corporation Project, Series

2012, (AMT)

.750

08/01/42

110,030

2,500,000

Indiana Finance Authority, Environmental Improvement

Revenue Bonds, United States Steel Corporation Project, Series

2020, (AMT)

.750

05/01/39

2,779,740

885,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.750

03/01/43

923,511

815,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Senior Series 2023E

.000

03/01/53

845,694

4,835,000

Indianapolis Local Public Improvement Bond Bank, Indiana,

Revenue Bonds, Convention Center Hotel Subordinate Series

2023F-1

.750

03/01/67

5,316,002

4,670,000

Whiting, Indiana, Environmental Facilities Revenue Bonds,

BP Products North America Inc. Project, Series 2015, (AMT),

(Mandatory Put 6/10/31)

.400

11/01/45

4,982,164

TOTAL INDIANA

18,378,182

IOWA - 1.2%

1,065,000

Iowa Finance Authority, Healthcare Revenue Bonds, Pella

Regional Health Center, Series 2025

.250

12/01/50

1,064,972

1,000,000

Iowa Finance Authority, Healthcare Revenue Bonds, Pella

Regional Health Center, Series 2025

.750

12/01/55

1,037,862

3,500,000

Iowa Finance Authority, Iowa, Midwestern Disaster Area

Revenue Bonds, Alcoa Inc. Project, Series 2012

.750

08/01/42

3,465,608

75,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.000

05/15/39

76,357

90,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.000

05/15/44

86,741

1,500,000

Iowa Finance Authority, Revenue Bonds, Lifespace

Communities, Inc., Series 2024A

.125

05/15/59

1,404,724

5,500,000

PEFA Inc., Public Energy Facilities Authority, Inc., Iowa, Gas

Project Revenue Bonds, Series 2019, (Mandatory Put 9/01/26)

.000

09/01/49

5,597,156

TOTAL IOWA

12,733,420

KANSAS - 0.1%

395,000

(c) Garden City, Kansas, Sales Tax Special Obligation Revenue

Bonds, Sports of the World Star Bond Project Phase II, Series

2025

.000

06/01/29

392,990

500,000

Wichita, Kansas, Health Care Facilities Revenue Bonds,

Presbyterian Manors, Series 2024VIII

.750

05/15/45

478,585

TOTAL KANSAS

871,575

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

KENTUCKY - 0.4%

$

930,000

Bell County, Kentucky, Special Assessment Industrial Building

Revenue Bonds, Boone's Ridge Project, Series 2020

.000

%

12/01/40

$

932,989

2,175,000

Carroll County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project, Refunding Series

2006B, (AMT)

.125

10/01/34

1,797,856

1,000,000

Kentucky Economic Development Finance Authority, Louisville

Arena Project Revenue Bonds, Louisville Arena Authority, Inc.,

Series 2017A - AGM Insured

.000

12/01/45

1,007,963

995,000

Newport, Kentucky, Special Obligation Revenue Bonds,

Newport Clifton Project, Series 2020B

.500

12/01/60

823,553

TOTAL KENTUCKY

4,562,361

LOUISIANA - 1.3%

215,000

(c) Louisiana Local Government Environmental Facilities and

Community Development Authority, Louisiana, Revenue

Bonds, Saint Martin Parish GOMESA Project, Series 2019

.400

11/01/44

202,446

1,150,000

(c) Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Lincoln Preparatory School Project, Series 2021A

.250

06/01/51

883,249

500,000

(c) Louisiana Publc Facilities Authority, Lousiana, Revenue Bonds,

Young Audiences Charter School, Series 2019A

.000

04/01/57

414,789

550,000

(c) Louisiana Public Facilities Authority, Louisiana, Revenue Bonds,

Lake Charles Charter Academy Foundation Project, Refunding

Series 2024A

.000

12/15/43

518,389

1,105,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.500

09/01/59

1,115,542

2,770,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.750

09/01/64

2,844,995

1,750,000

Louisiana Publics Facilities Authority, Louisiana, Revenue

Bonds, I-10 Calcasieu River Bridge Public-Private Partnership

Project, Senior Lien Series 2024, (AMT)

.000

09/01/66

1,664,397

500,000

(c) Plaquemines Port, Louisiana, Harbor and Terminal District

Facilities Revenue Bonds NOLA Terminal LLC Project Dock and

Wharf Series 2024A

.000

12/01/44

429,167

4,000,000

(c) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2008, (Mandatory Put 6/01/30)

.100

06/01/38

4,327,715

500,000

(c) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2010

.350

07/01/40

543,151

725,000

(c) Saint James Parish, Louisiana, Revenue Bonds, NuStar Logistics,

L.P. Project, Series 2010A

.350

10/01/40

787,531

1,000,000

Saint John the Baptist Parish, Louisiana, Revenue Bonds,

Marathon Oil Corporation Project, Refunding Series 2017A-3,

(Mandatory Put 7/01/26)

.200

06/01/37

995,175

TOTAL LOUISIANA

14,726,546

MAINE - 0.3%

255,000

(c) Maine Finance Authority, Solid Waste Disposal Revenue

Bonds, Casella Waste Systems, Inc. Project, Series 2024, (AMT),

(Mandatory Put 6/01/35)

.625

12/01/47

251,322

3,000,000

Maine Health and Higher Educational Facilities Authority

Revenue Bonds, Eastern Maine Medical Center Obligated

Group Issue, Series 2016A

.000

07/01/46

2,764,290

TOTAL MAINE

3,015,612

MARYLAND - 0.4%

2,840,000

Baltimore, Maryland, Convention Center Hotel Revenue Bonds,

Refunding Series 2017

.000

09/01/39

2,841,164

185,000

(c) Baltimore, Maryland, Special Obligation Bonds, Harbor Point

Project, Refunding Series 2022

.500

06/01/33

188,417

130,000

(c) Frederick County, Maryland, Tax Increment and Special Tax

Limited Obligation Bonds, Jefferson Technology Park Project,

Refunding Series 2020B

.625

07/01/43

123,398

385,000

(c) Maryland Economic Development Corporation, Port Facilities

Revenue Bonds, Core Natural Resources Inc. Project, Refunding

Series 2025, (Mandatory Put 3/27/35)

.000

07/01/48

397,726

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MARYLAND

(continued)

$

500,000

(d) Maryland Economic Development Corporation, Revenue

Bonds, Chesapeake Bay Hyatt Conference Center, Series

2006A

.000

%

12/01/31

$

335,000

1,000,000

(d) Maryland Economic Development Corporation, Revenue

Bonds, Chesapeake Bay Hyatt Conference Center, Series

2006B

.250

12/01/31

670,000

TOTAL MARYLAND

4,555,705

MASSACHUSETTS - 2.0%

1,375,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/43

1,478,643

1,035,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/44

1,106,667

1,500,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/45

1,598,289

425,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Green Bonds, Series 2015D

.000

07/01/44

412,916

2,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Emmanuel College, Series 2016A

.000

10/01/43

1,872,434

1,225,000

Massachusetts Development Finance Agency, Revenue Bonds,

Smith College, Series 2025

.000

07/01/45

1,178,635

11,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

UMass Memorial Health Care Obligated Group Issue, Series

2025N-2

.000

07/01/35

12,313,343

2,000,000

Massachusetts School Building Authority, Senior Dedicated

Sales Tax Revenue Bonds, Subordinated Refunding Social

Series 2025B

.000

02/15/37

2,335,177

TOTAL MASSACHUSETTS

22,296,104

MICHIGAN - 4.0%

3,604,389

Detroit City & General Retirement System Service Corporation,

Michigan, Certificates of Participation, Taxable Series 2005A -

FGIC Insured

.813

06/15/26

3,865,707

1,580,000

Detroit Downtown Development Authority, Michigan, Tax

Increment Revenue Bonds, Catalyst Development Project,

Refunding Series 2024

.000

07/01/48

1,634,861

970,000

Detroit Regional Convention Authority, Michigan, Special Tax

Revenue Bonds, Refunding Series 2024C

.000

10/01/37

1,051,769

4,971,590

Detroit, Wayne County, Michigan, General Obligation Bonds,

Financial Recovery Series 2014B-1

.000

04/01/44

3,916,944

645,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Second Lien Series 2025C

.500

07/01/50

697,541

1,615,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Second Lien Series 2025C

.500

07/01/55

1,739,685

5,000,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Senior Lien Series 2018A

.000

07/01/48

5,080,739

1,100,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Second Lien Series 2025D

.500

07/01/50

1,181,822

1,090,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Second Lien Series 2025D

.500

07/01/55

1,168,178

1,385,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Senior Lien Series 2025C

.250

07/01/50

1,461,786

10,000,000

Michigan Finance Authority, Hospital Revenue Bonds, Henry

Ford Health System, Refunding Series 2016

.000

11/15/41

10,066,923

835,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/41

891,639

860,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Public Lighting Authority Refunding Local

Project, Refunding Series 2025A - BAM Insured

.000

07/01/42

909,471

1,340,000

Michigan Hospital Finance Authority, Hospital Revenue Bonds,

Corewell Health, Series 2025A

.000

08/15/43

1,417,222

1,640,000

Michigan Hospital Finance Authority, Hospital Revenue Bonds,

Corewell Health, Series 2025A

.000

08/15/45

1,718,782

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

MICHIGAN

(continued)

$

2,235,000

(g) Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2023A, (UB)

.100

%

10/01/53

$

2,270,097

1,750,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

I-75 Improvement Project, Series 2018, (AMT)

.000

12/31/43

1,752,695

1,395,000

Southfield Public Schools, County Of Oakland, State Of

Michigan, General Obligation Bonds, School Building and Site

Series 2025

.250

05/01/55

1,464,219

1,355,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2023B -

AGM Insured, (AMT)

.250

12/01/37

1,485,503

TOTAL MICHIGAN

43,775,583

MINNESOTA - 1.1%

1,400,000

Coon Rapids, Minnesota Charter School Lease Revenue Bonds

Athlos Leadership Academy Brooklyn Park, Refunding Series

2025

.500

06/15/65

1,401,492

1,000,000

Duluth Economic Development Authority, Minnesota, Health

Care Facilities Revenue Bonds, Essentia Health Obligated

Group, Series 2018A

.250

02/15/48

911,668

50,000

(c) Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Twin Cities International Schools Project, Series 2017A

.000

12/01/47

43,895

3,000,000

Minneapolis, Minnesota, Charter School Lease Revenue Bonds,

Yinghua Academy Project, Series 2013A

.125

07/01/48

3,000,947

1,135,000

Moorhead, Minnesota, Educational Facilities Revenue Bonds,

The Concordia College Corporation Project, Series 2016

.000

12/01/40

1,135,075

30,000

Saint Cloud, Minnesota, Charter School Lease Revenue Bonds,

Stride Academy Project, Series 2016A

.000

04/01/46

24,045

3,745,000

(c) Saint Paul Housing & Redevelopment Authority, Minnesota,

Charter School Lease Revenue Bonds, Community School of

Excellence, Series 2023

.500

03/01/53

3,663,569

840,000

(c) Woodbury, Minnesota, Charter School Lease Revenue Bonds,

Math and Science Academy Building Company, Refunding

Series 2025A

.500

06/01/63

771,270

665,000

(c) Woodbury, Minnesota, Charter School Lease Revenue Bonds,

Math and Science Academy, Refunding Series 2025

.500

06/01/55

619,995

TOTAL MINNESOTA

11,571,956

MISSISSIPPI - 0.4%

670,000

(c),(d)

Mississippi Business Finance Corporation, Gulf Opportunity

Zone Revenue Bonds, King Edward Mixed-Use Project, Taxable

Refunding Series 2019A, (Mandatory Put 6/15/25)

.000

10/15/49

636,500

1,310,000

(g) Warren County, Mississippi, Certificates of Participation, Lease

Purchase Jail Project Series 2023 - BAM Insured, (UB)

.000

09/01/48

1,443,790

1,720,000

(g) Warren County, Mississippi, Certificates of Participation, Lease

Purchase Jail Project Series 2023 - BAM Insured, (UB)

.000

09/01/53

1,875,465

TOTAL MISSISSIPPI

3,955,755

MISSOURI - 0.5%

815,000

Blue Springs, Missouri, Special Obligation Tax Increment

Bonds, Adams Farm Project, Special Districts Refunding &

Improvement Series 2015A

.250

06/01/39

814,980

550,000

(c) Kansas City Industrial Development Authority, Missouri,

Economic Activity Tax Revenue Bonds, Historic Northeast

Redevelopment Plan Series 2024A-1

.000

06/01/54

507,563

500,000

(c) Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Truman Medical Center, Inc., Pass-

Through Certificate Series 2017

.250

12/01/42

443,401

1,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Expansion & Improvement

Projects Series 2020 - AGM Insured

.000

10/01/40

1,047,723

2,625,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Expansion & Improvement

Projects Series 2020 - AGM Insured

.000

10/01/45

2,692,115

TOTAL MISSOURI

5,505,782

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEBRASKA - 0.9%

$

3,750,000

Central Plains Energy Project, Nebraska, Gas Project Revenue

Bonds, Project 5, Series 2022-1, (Mandatory Put 10/01/29)

.000

%

05/01/53

$

3,987,992

5,335,000

(g) Nebraska Investment Finance Authority, Single Family Housing

Revenue Bonds, Social Series 2024C, (UB)

.700

09/01/49

5,339,217

TOTAL NEBRASKA

9,327,209

NEVADA - 0.3%

1,832,349

(c),(d)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Green Series 2020

.750

02/15/38

134,348

(c),(d)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Series 2017, (AMT)

.875

12/15/27

128,857

(c),(d)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

BioFuels LLC Project, Series 2017, (AMT)

.250

12/15/37

914,878

(c),(d)

Director of Nevada State Department of Business & Industry,

Environmental Improvement Revenue Bonds, Fulcrum Sierra

Holdings LLC, Green Series 2019, (AMT)

.750

02/15/38

2,840,000

(c) Director of Nevada State Department of Business and Industry,

Revenue Bonds, Brightline West Passenger Rail Project, Series

2025A, (AMT), (Mandatory Put 1/01/33)

.500

01/01/65

2,596,668

225,000

(c) Director of the State of Nevada Department of Business and

Industry, Charter School Lease Revenue Bonds, Somerset

Academy, Series 2018A

.000

12/15/38

223,206

165,000

Las Vegas, Nevada, Local Improvement Bonds, Special

Improvement District 814 Summerlin Village 21& 24A, Series

2019

.000

06/01/39

155,093

TOTAL NEVADA

2,974,997

NEW HAMPSHIRE - 1.4%

1,000,000

(c) National Finance Authority, New Hampshire, Resource

Recovery Revenue Bonds, Covanta Project, Refunding Series

2018B

.625

11/01/42

902,171

1,000,000

(c) National Finance Authority, New Hampshire, Resource

Recovery Revenue Bonds, Covanta Project, Refunding Series

2018C, (AMT)

.875

11/01/42

924,389

865,000

(c) National Finance Authority, New Hampshire, Resource

Recovery Revenue Bonds, Covanta Project, Refunding Series

2020A, (Mandatory Put 7/02/40)

.625

07/01/43

717,048

7,030,000

(c) National Finance Authority, New Hampshire, Special

Revenue Bonds, Bridgeland Water & Utility Districts

418,489,492,493,157 & 159, Series 2025

.875

12/15/33

7,075,056

555,000

(c) National Finance Authority, New Hampshire, Special Revenue

Bonds, Mill Creek Project, Montgomery County, Texas Series

2025

.950

12/01/31

557,605

2,405,000

(c) National Finance Authority, New Hampshire, Special Revenue

Bonds, The Chambers Creek Project, Montgomery County,

Texas Municipal Utility Districts, Capital Appreciation Series

2025

.000

12/15/32

1,515,325

455,000

(c) National Finance Authority, New Hampshire, Special Revenue

Bonds, Wildflower Project, Denton County, Texas, Capital

Appreciation Series 2025

.000

12/15/33

279,122

4,000,000

(c) New Hampshire Health and Education Facilities Authority,

Revenue Bonds, Covenant Health Group Series 2023

.000

07/01/37

3,421,092

TOTAL NEW HAMPSHIRE

15,391,808

NEW JERSEY - 0.3%

1,290,000

(c) New Jersey Economic Development Authority, Energy Facilities

Revenue Bonds, UMM Energy Partners, LLC Project, Series

2012A

.000

06/15/30

1,290,515

750,000

(c) New Jersey Economic Development Authority, New Jersey,

Dock and Wharf Facility Revenue Bonds, Repauno Port & Rail

Terminal Project, Series 2025, (AMT)

.375

01/01/35

775,575

750,000

New Jersey Economic Development Authority, Revenue Bonds,

Motor Vehicle Surcharge, Refunding Subordinate Series 2017A

.375

07/01/30

744,437

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW JERSEY

(continued)

$

610,000

Passaic County Improvement Authority, New Jersey, Charter

School Revenue Bonds, Paterson Charter School for Science

and Technology, Inc. Project, Series 2025

.500

%

07/01/40

$

602,275

TOTAL NEW JERSEY

3,412,802

NEW MEXICO - 0.1%

990,000

(c) Winrock Town Center Tax Increment Development District

1, Albuquerque, New Mexico, Gross Receipts Tax Increment

Bonds, Subordinate Lien Series 2020

.000

05/01/40

990,587

TOTAL NEW MEXICO

990,587

NEW YORK - 5.7%

1,000,000

Babylon Local Development Corporation II, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2023A

.750

02/01/33

1,048,551

290,000

Build New York City Resource Corporation, New York, Revenue

Bonds, New World Preparatory Charter School Project, Series

2021A

.000

06/15/31

285,213

1,060,000

(c) Build NYC Resource Corporation, New York, Revenue Bonds,

Albert Einstein College of Medicine, Inc, Series 2023

.250

06/01/55

1,101,339

3,445,000

(c) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020A-1

.250

06/01/40

3,276,370

970,000

(c) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020C-1

.000

06/01/40

898,709

3,490,000

(c) Build NYC Resource Corporation, New York, Revenue Bonds,

Family Life Academy Charter School, Series 2020C-1

.000

06/01/55

2,808,952

1,145,000

Dormitory Authority of the State of New York, Revenue Bonds,

Montefiore Medical Center, Series 2024

.250

11/01/42

1,198,169

930,000

Dormitory Authority of the State of New York, Revenue Bonds,

Montefiore Medical Center, Series 2024

.250

11/01/43

967,041

175,000

Dormitory Authority of the State of New York, Revenue Bonds,

Montefiore Medical Center, Series 2024

.500

11/01/47

183,162

1,035,000

Dormitory Authority of the State of New York, Revenue Bonds,

School Districts Financing Program, Series 2025A

.000

10/01/37

1,158,249

345,000

Dormitory Authority of the State of New York, Revenue Bonds,

School Districts Financing Program, Series 2025A

.000

10/01/38

382,442

550,000

Dormitory Authority of the State of New York, Revenue Bonds,

White Plains Hospital, Series 2024

.250

10/01/49

555,160

1,095,000

Dutchess County Local Development Corporation, New York,

Revenue Bonds, Health Quest Systems, Inc. Project, Series

2016B

.000

07/01/35

1,105,383

750,000

Glen Cove Local Economic Assistance Corporation, New York,

Revenue Bonds, Garvies Point Public Improvement Project,

Capital Appreciation Series 2016C

.625

01/01/55

666,671

225,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Refunding Series 2020B

.760

02/01/27

225,299

2,000,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2021A

.450

02/01/41

1,691,868

1,000,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, The Academy Charter School

Project, Series 2021A

.600

02/01/51

765,788

7,450,000

Metropolitan Transportation Authority, New York,

Transportation Revenue Bonds, Green Climate Bond Certified

Series 2020A-1

.000

11/15/48

7,521,685

400,000

Monroe County Industrial Development Corporation, New

York, Revenue Bonds, Saint Ann's Community Project, Series

2019

.000

01/01/50

339,871

1,000,000

(g) New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024A-1, (UB)

.650

11/01/49

1,005,010

1,930,000

(g) New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024A-1, (UB)

.750

11/01/54

1,946,968

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

1,140,000

(g) New York City Housing Development Corporation, New York,

Multifamily Housing Revenue Bonds, Sustainable Development

Series 2024B-1-A, (UB)

.750

%

11/01/54

$

1,155,843

540,000

New York City Housing Development Corporation, New York,

Multi-Family Mortgage Revenue Bonds, 8 Spruce Street, Class

F Series 2024

.250

12/15/31

557,377

175,000

New York City Housing Development Corporation, New York,

Multi-Family Mortgage Revenue Bonds, 8 Spruce Street,

Taxable Class E Series 2024

.375

12/15/31

180,068

2,785,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2018 Series A-3

.000

08/01/41

2,841,032

550,000

New York State Housing Finance Agency, State Personal

Income Tax Revenue Bonds, Economic Development and

Housing Sustainability Green Series 2024C

.000

12/15/39

545,610

770,000

New York State Housing Finance Agency, State Personal

Income Tax Revenue Bonds, Economic Development and

Housing Sustainability Green Series 2024C

.300

12/15/44

746,005

2,500,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/41

2,499,872

1,000,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.250

01/01/50

999,955

675,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, American Airlines, Inc. John F

Kennedy International Airport Project, Refunding Series 2016,

(AMT)

.000

08/01/26

675,142

700,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, American Airlines, Inc. John F

Kennedy International Airport Project, Series 2020, (AMT)

.250

08/01/31

726,837

555,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, American Airlines, Inc. John F

Kennedy International Airport Project, Series 2020, (AMT)

.375

08/01/36

577,315

5,245,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport New Terminal 1 Project, Green Series 2024, (AMT)

.500

06/30/54

5,336,123

465,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023,

(AMT)

.500

06/30/39

490,495

190,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023,

(AMT)

.500

06/30/40

199,036

250,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023 -

AGM Insured, (AMT)

.500

06/30/43

258,863

280,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023 -

AGM Insured, (AMT)

.500

06/30/44

288,880

995,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023,

(AMT)

.000

06/30/54

1,037,372

3,885,000

New York Transportation Development Corporation, New

York, Special Facility Revenue Bonds, New Terminal 1 John

F Kennedy International Airport Project, Green Series 2023,

(AMT)

.375

06/30/60

3,849,452

870,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2020C

.000

12/01/41

823,085

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

NEW YORK

(continued)

$

3,000,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2020, (AMT)

.000

%

10/01/40

$

3,032,661

1,900,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2023, (AMT)

.000

04/01/35

2,089,634

3,350,000

New York Transportation Development Corporation, Special

Facility Revenue Bonds, Delta Air Lines, Inc. - LaGuardia Airport

Terminals C&D Redevelopment Project, Series 2023, (AMT)

.625

04/01/40

3,502,179

1,280,000

Westchester County Local Development Corporation, New

York, Revenue Bonds, Westchester Medical Center Obligated

Group Project, Series 2023

.250

11/01/52

1,282,961

TOTAL NEW YORK

62,827,697

NORTH CAROLINA - 0.1%

365,000

North Carolina Medical Care Commission, Retirement Facilities

First Mortgage Revenue Bonds, The Forest at Duke, Inc., Series

2021

.000

09/01/46

300,101

230,000

North Carolina Medical Care Commission, Retirement Facility

Revenue Bonds, Penick Village Project First Mortgage Series

2024A

.500

09/01/54

225,030

TOTAL NORTH CAROLINA

525,131

NORTH DAKOTA - 0.1%

1,500,000

North Dakota Housing Finance Agency, Home Mortgage

Program Revenue Bonds, Social Series 2024D

.500

07/01/44

1,487,526

TOTAL NORTH DAKOTA

1,487,526

OHIO - 1.8%

5,255,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Capital Appreciation Series 2020B-3 Class 2

.000

06/01/57

492,863

990,000

Buckeye Tobacco Settlement Financing Authority, Ohio,

Tobacco Settlement Asset-Backed Revenue Bonds, Refunding

Senior Lien Series 2020B-2 Class 2

.000

06/01/55

846,219

2,000,000

Butler County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2016

.000

11/15/45

1,968,916

600,000

Dayton-Montgomery County Port Authority, Ohio,

Development Revenue Bonds, Dayton Regional Stem Schools

Inc. Project, Series 2024

.000

12/01/44

603,215

450,000

Dayton-Montgomery County Port Authority, Ohio,

Development Revenue Bonds, Dayton Regional Stem Schools

Inc. Project, Series 2024

.000

12/01/60

436,688

825,000

Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2025A

.500

08/01/42

855,523

1,555,000

Hamilton County, Ohio, Hospital Facilities Revenue Bonds, UC

Health, Series 2025A

.500

08/01/43

1,601,845

3,860,000

(c) Jefferson County Port Authority, Ohio, Economic Development

Revenue Bonds, JSW Steel USA Ohio, Inc. Project, Series 2023,

(AMT), (Mandatory Put 12/01/28)

.000

12/01/53

3,905,304

500,000

Montgomery County, Ohio, Health Care Facilities Revenue

Bonds, Solvita Project Refunding and Improvement Series 2024

.250

09/01/49

511,460

500,000

Montgomery County, Ohio, Health Care Facilities Revenue

Bonds, Solvita Project Refunding and Improvement Series 2024

.250

09/01/54

508,773

1,665,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2005C, (AMT)

.700

04/01/28

1,667,513

3,570,000

Ohio Air Quality Development Authority, Ohio, Revenue

Bonds, American Electric Power Company Project, Refunding

Series 2014C, (AMT)

.650

12/01/27

3,576,668

250,000

(c) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Silver Birch of Mansfield Project, Series 2024

.000

01/01/45

246,033

700,000

(g) Ohio Housing Finance Agency, Residential Mortgage Revenue

Bonds, Mortgage-Backed Securities Program, Social Series

2024A, (UB)

.650

09/01/54

693,134

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

OHIO

(continued)

$

1,275,000

University of Cincinnati, Ohio, General Receipts Bonds, Series

2025A

.250

%

06/01/43

$

1,369,758

TOTAL OHIO

19,283,912

OKLAHOMA - 0.4%

2,300,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.500

08/15/52

2,308,181

1,280,000

Oklahoma Development Finance Authority, Health System

Revenue Bonds, OU Medicine Project, Series 2018B

.500

08/15/57

1,282,828

1,110,000

Tulsa Municipal Airport Trust, Oklahoma, Revenue Bonds,

American Airlines Inc., Series 2025, (AMT)

.250

12/01/35

1,270,505

TOTAL OKLAHOMA

4,861,514

OREGON - 0.1%

1,450,000

Astoria Hospital Facilities Authority, Oregon, Hospital Revenue

Bonds, Columbia Memorial Hospital Project, Series 2024

.250

08/01/49

1,454,879

TOTAL OREGON

1,454,879

PENNSYLVANIA - 3.1%

800,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.250

01/01/39

856,871

900,000

Allegheny County Airport Authority, Pennsylvania, Airport

Revenue Bonds, Pittsburgh International Airport, Series 2023A

- AGM Insured, (AMT)

.500

01/01/43

957,057

1,000,000

Allegheny County Hospital Development Authority,

Pennsylvania, Revenue Bonds, University of Pittsburgh Medical

Center, Series 2019A

.000

07/15/37

978,604

870,000

(c) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, 615 Waterfront

Project, Senior Series 2021

.000

05/01/42

901,119

180,000

(c) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, City Center

Project, Series 2018

.000

05/01/33

184,967

175,000

(c) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, City Center

Project, Subordinate Lien, Series 2018

.125

05/01/32

179,309

3,000,000

(c) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, City Center

Refunding Project, Series 2017

.000

05/01/42

3,000,710

1,900,000

(c) Allentown Neighborhood Improvement Zone Development

Authority, Pennsylvania, Tax Revenue Bonds, Neuweiler Lofts

Project, Series 2023

.250

05/01/42

1,878,373

1,500,000

(c) Dauphin County General Authority, Pennsylvania, Revenue

Bonds, Harrisburg University of Science & Technology Project,

Series 2020

.250

10/15/53

1,085,510

2,000,000

Geisinger Authority, Montour County, Pennsylvania, Health

System Revenue Bonds, Geisinger Health System, Series

2017A-2

.000

02/15/39

2,028,894

385,000

Lehigh County Industrial Development Authority, Pennsylvania,

Charter School Revenue Bonds Seven Generations Charter

School Series 2021A

.000

05/01/51

292,680

1,400,000

(c) Lehigh County Industrial Development Authority, Pennsylvania,

Revenue Bonds, Provident Group -Lehigh Valley International

Airport Hotel Project First Tier Series 2025A-2

.750

01/01/65

1,338,475

1,065,000

(c) Lehigh County Industrial Development Authority, Pennsylvania,

Revenue Bonds, Provident Group -Lehigh Valley International

Airport Hotel Project Second Tier Series 2025C

.750

01/01/65

1,022,067

690,000

(a),(c),(d)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2020A-1

.000

12/01/40

690,000

(a),(c),(d)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2020A-2, (AMT)

.000

12/01/40

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PENNSYLVANIA

(continued)

$

1,435,000

(a),(d)

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, KDC Agribusiness Fairless

Hills LLC Project, Series 2021A

.000

%

12/01/31

$

350,000

Pennsylvania Economic Development Financing Authority,

Exempt Facilities Revenue Bonds, PPL Energy Supply, LLC

Project, Refunding Series 2009C, (Mandatory Put 6/01/27)

.250

12/01/37

352,796

2,965,000

Pennsylvania Economic Development Financing Authority,

Parking System Revenue Bonds, Capitol Region Parking

System, Junior Guaranteed Series 2013B - BAM Insured

.000

01/01/45

1,160,171

2,040,000

Pennsylvania Economic Development Financing Authority,

Revenue Bonds, University of Pittsburgh Medical Center, Series

2017A

.000

11/15/42

1,847,197

3,000,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2023-143A, (UB)

.450

04/01/51

3,123,524

380,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-144A, (UB)

.450

10/01/44

376,664

2,085,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-144A, (UB)

.600

10/01/49

2,052,629

2,910,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2024-145A, (UB)

.750

10/01/49

2,898,151

2,910,000

(g) Pennsylvania Housing Finance Agency, Single Family Mortgage

Revenue Bonds, Social Series 2025-148A, (UB)

.800

10/01/55

2,922,140

1,500,000

Philadelphia Authority for Industrial Development,

Pennsylvania, City Service Agreement Revenue Bonds, Series

2018

.000

05/01/36

1,564,372

550,000

(c) Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Mariana Bracetti Academy

Project, Series 2020A

.375

06/15/50

505,922

435,000

(c) Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Mariana Bracetti Academy

Project, Taxable Series 2020B

.875

12/15/35

433,218

500,000

(c) Philadelphia Authority for Industrial Development,

Pennsylvania, Revenue Bonds, Mariana Bracetti Academy

Project, Taxable Series 2020B

.125

12/15/44

463,427

1,615,000

Philadelphia Hospitals and Higher Education Facilities

Authority, Pennsylvania, Hospital Revenue Bonds, Temple

University Health System Obligated Group, Series of 2017

.000

07/01/31

1,648,462

TOTAL PENNSYLVANIA

34,053,591

PUERTO RICO - 5.6%

5,950,000

Children's Trust Fund, Puerto Rico, Tobacco Settlement Asset-

Backed Bonds, Series 2008A

.000

05/15/57

275,363

3,500,000

(c) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/37

3,606,502

1,500,000

(c) Puerto Rico Aqueduct and Sewerage Authority, Revenue

Bonds, Refunding Senior Lien Series 2021B

.000

07/01/42

1,352,576

3,570,000

(d) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Federally Taxable Build America Bonds, Series 2010YY

.125

07/01/40

2,126,736

1,375,000

(d) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.250

01/01/26

841,199

1,000,000

(d) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Taxable Series 2010BBB

.400

07/01/28

597,228

175,000

(d) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/27

105,547

500,000

(d) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010AAA

.250

07/01/25

298,505

2,650,000

(d) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010XX

.250

07/01/40

1,693,606

100,000

(d) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.000

07/01/43

57,338

2,265,000

(d) Puerto Rico Electric Power Authority, Revenue Bonds, Taxable

Series 2010EEE

.050

07/01/32

1,335,138

545,707

Puerto Rico Highway and Transportation Authority Highway

Revenue Bonds Series 2022

.250

07/01/38

545,832

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

PUERTO RICO

(continued)

$

2,850,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.550

%

07/01/40

$

2,787,493

15,000,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/51

3,773,209

3,500,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Restructured 2018A-1

.000

07/01/58

3,383,076

1,000,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax

Revenue Bonds, Taxable Restructured Cofina Project Series

2019A-2

.784

07/01/58

929,885

10,450,945

Puerto Rico, GDB Debt Recovery Authority Commonwealth

Bonds, Taxable Series 2018

.500

08/20/40

10,162,904

9,014,471

Puerto Rico, General Obligation Bonds, Clawback Highway

Transportation Authority Claims Taxable Series 2022

.000

11/01/51

6,096,036

5,430,000

Puerto Rico, General Obligation Bonds, Commonwealth

Clawback CVIS Taxable Series 2022

.000

11/01/51

1,839,412

4,905,069

Puerto Rico, General Obligation Bonds, Commonwealth

Clawback CVIS Taxable Series 2022

.000

11/01/51

2,372,827

1,655,672

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

1,184,510

3,093,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

3,060,560

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/35

6,992,533

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/37

6,642,641

1,349,462

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/41

1,209,764

8,341,664

Puerto Rico, General Obligation Bonds, Vintage CW NT Claims

Taxable Series 2022

.000

11/01/43

5,526,353

TOTAL PUERTO RICO

61,804,671

RHODE ISLAND - 0.2%

2,000,000

Rhode Island Health and Educational Building Corporation,

Public Schools Financing Program Revenue Bonds, City of

Providence, Series 2024G - BAM Insured

.250

05/15/41

2,162,218

TOTAL RHODE ISLAND

2,162,218

SOUTH CAROLINA - 1.0%

100,000

(c) Hardeeville, South Carolina, Special Assessment Revenue

Bonds, East Argent Improvement District, Series 2021

.875

05/01/41

81,780

250,000

Lancaster County, South Carolina, Assessment Revenue Bonds,

Walnut Creek Improvement District, Series 2016A-1

.000

12/01/31

250,132

1,000,000

(c) South Carolina Jobs-Economic Development Authority,

Educational Facilities Revenue Bonds, Horse Creek Academy

Project, Series 2021A

.000

11/15/55

857,249

2,670,000

South Carolina Jobs-Economic Development Authority, Health

Care Facilities Revenue Bonds, Novant Health Group, Series

2024A

.500

11/01/49

2,825,217

290,000

South Carolina Jobs-Economic Development Authority,

Healthcare Revenue Bonds, Beaufort Memorial Hospital &

South of Broad Healthcare Project, Series 2024

.500

11/15/44

293,104

2,500,000

South Carolina Jobs-Economic Development Authority,

Hospital Revenue Bonds, McLeod Health Projects, Refunding &

Improvement Series 2018

.000

11/01/43

2,531,781

3,000,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Improvement Series 2021B

.000

12/01/39

2,931,995

1,250,000

South Carolina Public Service Authority, Santee Cooper

Revenue Obligations, Refunding Series 2016A

.000

12/01/38

1,258,514

TOTAL SOUTH CAROLINA

11,029,772

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TENNESSEE - 1.6%

$

2,000,000

(c) Bristol Industrial Development Board, Tennessee, State Sales

Tax Revenue Bonds, Pinnacle Project, Capital Appreciation

Series 2016B

.000

%

12/01/31

$

1,424,745

485,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Health System Revenue Bonds, Erlanger Health

Series 2024

.250

12/01/40

530,221

570,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Health System Revenue Bonds, Erlanger Health

Series 2024

.250

12/01/41

615,726

1,635,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Health System Revenue Bonds, Erlanger Health

Series 2024

.250

12/01/42

1,748,442

1,405,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Health System Revenue Bonds, Erlanger Health

Series 2024

.250

12/01/43

1,490,785

2,595,000

Chattanooga Health, Educational and Housing Facility Board,

Tennessee, Health System Revenue Bonds, Erlanger Health

Series 2024

.250

12/01/44

2,736,339

4,000,000

Knox County Health, Educational and Housing Facility Board,

Tennessee, Hospital Revenue Bonds, Covenant Health,

Refunding Series 2016A

.000

01/01/42

4,028,439

1,000,000

(d) Memphis/Shelby County Economic Development Growth

Engine Industrial Development Board, Tennessee, Tax

Increment Revenue Bonds, Graceland Project, Senior Series

2017A

.625

01/01/46

678,945

800,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Belmont University, Series 2023

.000

05/01/40

846,420

3,490,000

Metropolitan Government of Nashville-Davidson County

Health and Educational Facilities Board, Tennessee, Revenue

Bonds, Vanderbilt University, Series 2023A

.000

07/01/33

3,917,624

TOTAL TENNESSEE

18,017,686

TEXAS - 7.4%

1,000,000

(c) Abilene Convention Center Hotel Development Corporation,

Texas, Hotel Revenue Bonds, Second-Lien Series 2021B

.000

10/01/50

883,178

1,190,000

Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Brooks Academies, Series 2021A

.000

06/15/31

1,128,734

1,500,000

Arlington Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Brooks Academies, Series 2021A

.000

06/15/51

1,219,852

2,460,000

(e) Austin, Texas, Certificates of Obligation, Series 2025

.000

09/01/41

2,695,138

3,000,000

(e) Austin, Texas, Certificates of Obligation, Series 2025

.000

09/01/44

3,215,696

2,125,000

(e) Austin, Texas, General Obligation Bonds, Refunding & Public

Improvement Series 2025

.000

09/01/43

2,289,227

340,000

(c) Buda, Texas, Special Assessment Revenue Bonds, Persimmon

Public improvement District Improvement Area 1 Project,

Series 2025

.875

09/01/45

334,280

500,000

(c) Buda, Texas, Special Assessment Revenue Bonds, Persimmon

Public improvement District Major Improvement Area Project,

Series 2025

.750

09/01/55

486,061

3,305,000

Chambers County Justice Center Public Facilities Corporation,

Texas, Lease Revenue Bonds, Series 2024

.500

06/01/49

3,506,384

5,270,000

Chambers County Justice Center Public Facilities Corporation,

Texas, Lease Revenue Bonds, Series 2024

.500

06/01/55

5,558,092

108,000

(c) City of Midlothian, Texas, Westside Preserve Public

Improvement District Improvement Area #1 Project Special

Assessment Revenue Bonds Series 2022

.375

09/15/27

108,233

275,000

(c) Clifton Higher Education Finance Corporation, Texas,

Education Revenue Bonds, Valor Education Foundation, Series

2024A

.000

06/15/54

253,180

400,000

(c) Denton County, Texas, Special Assessment Revenue

Bonds, Green Meadows Public Improvement District Major

Improvement Area Project, Series 2025

.125

12/31/55

409,172

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

265,000

(c) Denton County, Texas, Special Assessment Revenue Bonds,

Green Meadows Public Improvement District, Improvement

Area 1 Project, Series 2025

.375

%

12/31/45

$

270,790

1,280,000

Fort Bend County Industrial Development Corporation, Texas,

Revenue Bonds, NRG Energy Inc. Project, Series 2012B

.750

11/01/42

1,265,760

680,000

Galveston, Texas, Wharves and Terminal First Lien Revenue

Bonds, Series 2023, (AMT)

.000

08/01/43

734,446

2,500,000

Greater Texas Cultural Educational Facilities Finance

Corporation, Texas, Revenue Bonds, Biomedical Research

Institute Series 2024A

.250

06/01/49

2,367,465

4,800,000

Greater Texas Cultural Educational Facilities Finance

Corporation, Texas, Revenue Bonds, Biomedical Research

Institute Series 2024A

.250

06/01/54

4,418,365

80,000

Hays County, Texas, Special Assessment Revenue Bonds, La

Cima Public Improvement District Major Public Improvement

Project, Series 2015

.000

09/15/45

80,021

2,000,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines Inc. Terminal Improvement Project,

Refunding Series 2015B-1, (AMT)

.000

07/15/35

2,000,586

5,975,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.250

07/15/33

6,407,277

1,120,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/36

1,217,552

1,200,000

Houston, Texas, Airport System Special Facilities Revenue

Bonds, United Airlines, Inc. Terminal Improvements Project,

Series 2024B, (AMT)

.500

07/15/38

1,288,389

1,000,000

Houston, Texas, Hotel Occupancy Tax and Special Revenue

Bonds, Convention and Entertainment Facilities Department,

Refunding Series 2014

.000

09/01/32

1,001,444

5,615,000

Love Field Airport Modernization Corporation, Texas, General

Airport Revenue Bonds, Refunding Series 2021 - AGM Insured,

(AMT)

.000

11/01/38

5,503,974

500,000

(c) Marble Falls, Burnet County, Texas, Special Assessment

Revenue Bonds, Thunder Rock Public Improvement District

Improvement Area 1 Project, Series 2021

.125

09/01/41

434,935

1,500,000

Matagorda County Navigation District 1, Texas, Pollution

Control Revenue Bonds, AEP Texas Central Company Project,

Remarketing, Series 2008-1

.000

06/01/30

1,500,514

500,000

(c) Mesquite, Texas, Special Assessment Bonds, Iron Horse Public

Improvement District Project, Series 2019

.750

09/15/39

516,374

500,000

(c) Mesquite, Texas, Special Assessment Bonds, Iron Horse Public

Improvement District Project, Series 2019

.000

09/15/49

505,974

500,000

(c) Mesquite, Texas, Special Assessment Revenue Bonds, Solterra

Public Improvement District Improvement Area A-1 Projects,

Series 2023

.500

09/01/43

507,417

935,000

(c) Mission Economic Development Corporation, Texas, Revenue

Bonds, Natgasoline Project, Senior Lien Series 2018, (AMT)

.625

10/01/31

936,120

330,000

Mission Economic Development Corporation, Texas,

Solid Waste Disposal Revenue Bonds, Graphic Packaging

International, LLC Project, Green Series 2025, (AMT),

(Mandatory Put 6/01/30)

.000

12/01/64

342,008

375,000

(c) Mission Economic Development Corporation, Texas, Utility

Revenue Bonds, Permian Basin Water Resources Project, Series

2025A, (AMT)

.750

08/15/45

382,298

1,025,000

(c) Mission Economic Development Corporation, Texas, Utility

Revenue Bonds, Permian Basin Water Resources Project, Series

2025A, (AMT)

.000

08/15/60

1,050,312

35,000

(d) New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Buckingham Senior

Living Community, Inc. Project, Series 2021A-1

.500

11/15/37

27,759

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TEXAS

(continued)

$

230,000

(d) New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Buckingham Senior

Living Community, Inc. Project, Series 2021A-2

.500

%

11/15/36

$

190,076

1,071,256

(d) New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Buckingham Senior

Living Community, Inc. Project, Series 2021B

.625

11/15/61

278,415

25,000

New Hope Cultural Education Facilities Finance Corporation,

Texas, Retirement Facility Revenue Bonds, Legacy Midtown

Park Project, Series 2018A

.500

07/01/54

20,538

1,145,000

(d) New Hope Cultural Education Facilities Finance Corporation,

Texas, Student Housing Revenue Bonds, NCCD - College

Station Properties LLC - Texas A&M University Project, Series

2015A

.000

07/01/47

1,063,142

4,085,000

Pflugerville, Travis and Williamson Counties, Texas, Certificates

of Obligation, Combination Tax and Revenue Limited Series

2023

.250

08/01/55

4,302,001

500,000

(c) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.250

09/15/35

515,664

230,000

(c) Pilot Point, Denton, Grayson, and Cooke Counties, Texas,

Special Assessment Revenue Bonds, Bryson Ranch Public

Improvement District Zone A Improvement Area 1 Project,

Series 2025

.125

09/15/55

234,952

8,905,000

(c) Port Beaumont Industrial Development Authority, Texas, Facility

Revenue Bonds, Jefferson Gulf Coast Energy Project, Series

2021B

.100

01/01/28

7,994,470

100,000

(c) Princeton, Texas, Special Assessment Revenue Bonds,

Whitewing Trails Public Improvement District 2 Phase 1 Project,

Series 2019

.750

09/01/49

92,503

100,000

(c) Princeton, Texas, Special Assessment Revenue Bonds,

Whitewing Trails Public Improvement District 2 Phase 2-6 Major

Improvement Project, Series 2019

.500

09/01/39

101,205

190,000

(c) Princeton, Texas, Special Assessment Revenue Bonds,

Winchester Crossing Public Improvement District 3 Project,

Series 2024

.125

09/01/44

180,340

6,825,000

Seguin, Texas, Combination Tax and Limited Pledge Revenue

Certificate of Obligation, Series 2025

.500

09/01/49

7,423,607

450,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.000

08/15/40

494,914

430,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.250

08/15/42

475,767

390,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.250

08/15/43

428,569

685,000

Spring Independent School District, Hardin County, Texas,

General Obligation Bonds, School Building and Refunding

Series 2025

.250

08/15/45

745,248

570,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.375

06/30/38

601,594

565,000

Texas Private Activity Bond Surface Transpiration Corporation,

Senior Lien Revenue Bonds, NTE Mobility Partners Segments 3

LLC Refunding Series 2023, (AMT)

.500

06/30/41

589,175

800,000

Texas Private Activity Bond Surface Transportation Corporation,

Senior Lien Revenue Bonds, LBJ Infrastructure Group LLC IH-

635 Managed Lanes Project, Refunding Series 2020A

.000

06/30/40

749,884

TOTAL TEXAS

81,329,071

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTAH - 1.6%

$

240,000

(c) Black Desert Public Infrastructure District, Washington County,

Utah, Special Assessment Bonds, Black Desert Assessment

Area 1, Series 2024

.625

%

12/01/53

$

240,645

245,000

(c),(d)

Box Elder County, Utah, Solid Waste Disposal Revenue Bonds,

Promontory Point Res, LLC, Senior Series 2017A, (AMT)

.000

12/01/39

235,294

500,000

(c) Mida Cormont Public Infrastructure District, Utah, Limited Tax

General Obligation Bonds, Series 2025A-2

.750

06/01/55

416,030

6,400,000

(c) Nordic Village Public Infrastructure District 1, Weber County,

Utah, Limited Tax General Obligation and Special Revenue

Bonds, Series 2025

.500

03/01/55

6,501,098

1,000,000

(c) Ridges Estates Infrastructure Financing District, Utah, Special

Assessment Bonds, Alpine Hollow Assessment Area, Series

2025

.250

12/01/53

1,024,703

640,000

Salt Lake City, Utah, Airport Revenue Bonds, International

Airport Series 2023A, (AMT)

.250

07/01/43

664,891

1,735,000

(c) Tech Ridge Public Infrastructure District, St. George,

Washington County, Utah, Special Assessment and Tax

Increment Bonds, Tech Ridge Assessment Area, Series 2025

.250

12/01/54

1,769,192

935,000

(c) Utah Charter School Finance Authority, Charter School

Revenue Bonds, Paradigm High School Project, Series 2020A

.125

07/15/51

774,494

1,305,000

(g) Utah Housing Corporation, Single Family Mortgage Bonds,

Series 2024C, (UB)

.650

01/01/49

1,292,941

2,115,000

(c) Verk Industrial Regional Public Infrastructure District, Utah, Tax

Differential Revenue Bonds, Series 2025

.625

09/01/47

2,198,021

500,000

(c) Wakara Ridge Public Infrastructure District, Utah, Special

Assessment Bonds, Wakara Ridge Assessment Area, Series

2025

.625

12/01/54

506,795

2,540,000

(c) Wohali Public Infrastructure District 1, Utah, Special Assessment

Revenue Bonds, Assessment Area 1 Series 2023

.000

12/01/42

2,035,183

TOTAL UTAH

17,659,287

VIRGIN ISLANDS - 0.6%

1,295,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/30

1,341,756

1,470,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/39

1,495,642

1,250,000

(c) Virgin Islands Public Finance Authority, Revenue Bonds,

Frenchman's Reef Hotel Development Hotel Occupancy Series

2024A

.000

04/01/53

1,272,669

450,000

Virgin Islands Transportation & Infrastructure Corporation,

Virgin Islands, Grant Anticipation Revenue Bonds, Federal

Highway Grant Anticipation Revenue Loan Note, Series 2025

.000

09/01/42

469,737

485,000

Virgin Islands Transportation & Infrastructure Corporation,

Virgin Islands, Grant Anticipation Revenue Bonds, Federal

Highway Grant Anticipation Revenue Loan Note, Series 2025

.000

09/01/43

503,598

1,000,000

(c) West Indian Company Limited, Virgin Islands, Port Facilities

Revenue Bonds WICO Financing Series 2022A

.125

10/01/42

958,001

TOTAL VIRGIN ISLANDS

6,041,403

VIRGINIA - 0.5%

1,890,000

(c) Cherry Hill Community Development Authority, Virginia,

Special Assesment Bonds, Potomac Shores Project, Series 2015

.400

03/01/45

1,891,012

100,000

(c) Virginia Small Business Finance Authority, Tourism

Development Financing Program Revenue Bonds, Downtown

Norfolk and Virginia Beach Oceanfront Hotel Projects, Series

2018A

.375

04/01/41

97,713

1,785,000

Virginia Small Business Financing Authority, Revenue Bonds,

Elizabeth River Crossing OPCO, LLC Project, Refunding Senior

Lien Series 2022, (AMT)

.000

01/01/40

1,686,589

1,450,000

(c) Virginia Small Business Financing Authority, Tourism

Development Financing Program Revenue Bonds, Virginia

Beach Oceanfront South Hotel Project, Taxable Senior Series

2020B-1

.000

10/01/50

1,586,788

TOTAL VIRGINIA

5,262,102

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WASHINGTON - 1.7%

$

1,525,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

%

06/01/43

$

1,583,956

1,545,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

06/01/44

1,599,291

1,780,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

06/01/45

1,839,390

1,050,000

Port of Seattle, Washington, General Obligation Bonds, Limited

Tax Series, Refunding 2024A, (AMT)

.000

06/01/46

1,085,024

1,625,000

Port of Seattle, Washington, Revenue Bonds, Intermediate Lien

Series 2017C, (AMT)

.000

05/01/30

1,669,277

1,770,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Health & Services, Series 2014D

.000

10/01/41

1,770,661

3,000,000

Washington Health Care Facilities Authority, Revenue Bonds,

Providence Saint Joseph Health, Refunding Series 2021B,

(Mandatory Put 10/01/30)

.000

10/01/42

3,110,769

6,975,578

Washington State Housing Finance Commission, Social

Municipal Certificates Multifamily Revenue Bonds, Series 2023-

1 Class A

.375

04/20/37

6,485,841

TOTAL WASHINGTON

19,144,209

WEST VIRGINIA - 0.4%

800,000

.Ohio County Commission, West Virginia, Tax Increment

Revenue Bonds, The Highlands Project, Refunding &

Improvement Series 2024

.250

06/01/53

791,543

100,000

(c) Monongalia County Commission, West Virginia, Special District

Excise Tax Revenue Bonds, University Town Centre Economic

Opportunity Development District, Refunding & Improvement

Series 2017A

.500

06/01/37

101,226

100,000

(c) Monongalia County Commission, West Virginia, Special District

Excise Tax Revenue Bonds, University Town Centre Economic

Opportunity Development District, Subordinate Improvement

Series 2023A

.000

06/01/43

103,541

915,000

(c),(d)

West Virginia Economic Development Authority, Dock and

Wharf Facilities Revenue Bonds, Empire Trimodal Terminal, LLC

Project, Series 2020

.000

12/01/40

457,824

250,000

(c) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 3/27/35)

.450

01/01/55

260,903

850,000

(c) West Virginia Economic Development Authority, Solid Waste

Disposal Facilities Revenue Bonds, Core Natural Resources,

INC Project, AMT Series 2025, (AMT), (Mandatory Put 5/15/32)

.625

04/15/55

859,736

1,000,000

West Virginia Hospital Finance Authority, Hospital Revenue

Bonds, Charleston Area Medical Center, Refunding &

Improvement Series 2019A

.000

09/01/31

1,054,375

1,135,000

West Virginia Hospital Finance Authority, Revenue Bonds, West

Virginia University Health System, Improvement Series 2023A

.000

06/01/43

1,180,102

TOTAL WEST VIRGINIA

4,809,250

WISCONSIN - 4.6%

2,500,000

(c),(d)

Gillett, Wisconsin, Solid Waste Disposal Revenue Bonds, WI

RNG Hub North LLC Renewable Natural Gas Production Plant

Project, Series 2021A

.500

12/01/32

1,927,447

105,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Corvian Community School Bonds, North Carolina,

Series 2019A

.000

06/15/49

86,170

60,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Corvian Community School, North Carolina, Series

2017A

.250

06/15/29

58,784

330,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Eno River Academy Project, Series 2020A

.000

06/15/30

329,329

150,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Founders Academy of Las Vegas, Series 2020A

.000

07/01/40

142,506

100,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Freedom Classical Academy Inc., Series 2020A

.000

01/01/42

91,291

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

230,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Freedom Classical Academy Inc., Series 2020A

.000

%

01/01/56

$

189,965

410,000

Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, North East Carolina Preparatory School Project,

Refunding Series 2024A

.000

06/15/44

402,193

250,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Research Triangle High School Project, North Carolina,

Series 2015A

.625

07/01/45

247,972

100,000

(c) Public Finance Authority of Wisconsin, Charter School Revenue

Bonds, Uwharrie Charter Academy, North Carolina, Series

2017A

.500

06/15/37

101,161

3,018

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/47

2,638

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/48

2,596

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/49

2,512

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/50

2,469

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/51

3,208

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/52

3,166

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/53

3,060

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/54

2,997

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/55

2,934

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/56

159,690

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.500

07/01/56

116,185

3,250

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/57

3,166

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/58

3,082

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/59

3,018

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/60

2,976

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/61

2,891

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/62

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

2,828

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

%

01/01/63

$

2,765

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/64

2,723

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/65

2,934

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/66

35,337

(c),(d)

Public Finance Authority of Wisconsin, Conference Center and

Hotel Revenue Bonds, Lombard Public Facilities Corporation,

First Tier Series 2018A-1

.000

01/01/67

2,735,000

(c) Public Finance Authority of Wisconsin, Education Revenue

Bonds, Bonnie Cone Classical Academy, Series 2024

.500

06/15/49

2,335,039

175,000

Public Finance Authority of Wisconsin, Education Revenue

Bonds, Shining Rock Classical Academy, Series 2022A

.125

06/15/57

153,709

750,000

(c) Public Finance Authority of Wisconsin, Education Revenue

Bonds, The Capitol Encore Academy, Series 2019A

.250

06/01/39

704,230

1,000,000

(c) Public Finance Authority of Wisconsin, Education Revenue

Bonds, The Capitol Encore Academy, Series 2021A

.000

06/01/56

809,080

545,000

Public Finance Authority of Wisconsin, Educational Facility

Revenue Bonds, Cornerstone Charter Academy Series 2024

.000

02/01/54

525,527

1,000,000

(c) Public Finance Authority of Wisconsin, Educational Facility

Revenue Bonds, LEAD Academy Project, Series 2021

.000

08/01/56

686,557

1,000,000

Public Finance Authority of Wisconsin, Exempt Facilities

Revenue Bonds, National Gypsum Company Project, Refunding

Series 2016, (AMT)

.000

08/01/35

967,098

375,000

Public Finance Authority of Wisconsin, Health Care Facilities

Revenue Bonds, Appalachian Regional Healthcare System

Obligated Group, Series 2021A

.000

07/01/41

368,489

2,000,000

Public Finance Authority of Wisconsin, Hotel Revenue Bonds,

Grand Hyatt San Antonio Hotel Acquisition Project, Senior Lien

Series 2022A

.000

02/01/52

1,966,946

1,665,000

(c) Public Finance Authority of Wisconsin, Hotel Revenue

Bonds, Grand Hyatt San Antonio Hotel Acquisition Project,

Subordinate Lien Series 2022B

.625

02/01/46

1,705,169

2,000,000

(c) Public Finance Authority of Wisconsin, Hotel Revenue

Bonds, Grand Hyatt San Antonio Hotel Acquisition Project,

Subordinate Lien Series 2022B

.000

02/01/62

2,062,038

2,000,000

(c) Public Finance Authority of Wisconsin, Limited Obligation

PILOT Revenue Bonds, American Dream Meadowlands Project,

Series 2017

.750

12/01/42

1,600,000

3,000,000

(c) Public Finance Authority of Wisconsin, Multifamily Housing

Revenue Bonds, Promenade Apartments Project, Series 2024

.250

02/01/39

3,043,859

3,750,000

Public Finance Authority of Wisconsin, Pollution Control

Revenue Bonds, Duke Energy Progress Project, Refunding

Series 2022B, (Mandatory Put 10/01/30)

.000

10/01/46

3,863,956

105,000

(c),(d)

Public Finance Authority of Wisconsin, Revenue Bonds,

Alabama Gulf Coast Zoo, Series 2018A

.500

09/01/48

63,000

500,000

(c),(d)

Public Finance Authority of Wisconsin, Revenue Bonds, Procure

Proton Therapy Center, Senior Series 2018A

.950

07/01/38

350,000

1,275,000

(c) Public Finance Authority of Wisconsin, Revenue Bonds,

Revolution Academy, Refunding Series 2023A

.250

10/01/58

1,291,295

1,250,000

Public Finance Authority of Wisconsin, Revenue Bonds, Sky

Harbour LLC Obligated Group Aviation Facilities Project, Series

2021, (AMT)

.000

07/01/41

1,115,825

1,750,000

Public Finance Authority of Wisconsin, Revenue Bonds, Sky

Harbour LLC Obligated Group Aviation Facilities Project, Series

2021, (AMT)

.250

07/01/54

1,457,060

See Notes to Financial Statements

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

WISCONSIN

(continued)

$

1,085,000

Public Finance Authority of Wisconsin, Revenue Bonds, Triad

Educational Services, Inc. Math & Science Academy, Series

2025

.500

%

06/15/55

$

1,087,634

950,000

Public Finance Authority of Wisconsin, Revenue Bonds, Triad

Educational Services, Inc. Math & Science Academy, Series

2025

.250

06/15/65

902,477

635,000

Public Finance Authority of Wisconsin, Revenue Bonds, Triad

Educational Services, Inc. Math & Science Academy, Series

2025

.400

06/15/65

618,416

180,000

(c),(d)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.250

01/01/38

81,000

865,000

(c),(d)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018A-1

.375

01/01/48

389,250

980,000

(c),(d)

Public Finance Authority of Wisconsin, Senior Revenue Bonds,

Maryland Proton Treatment Center, Series 2018B-2

.000

01/01/49

125,000

(a),(d)

Public Finance Authority of Wisconsin, Wisconsin Revenue

Note, KDC Agribusiness LLC Project, Series 2022B

.000

12/31/25

2,000,000

(c) Public Finance Authority, Wisconsin, Educational Revenue

Bonds, Lake Norman Charter School, Series 2018A

.000

06/15/48

1,938,021

1,000,000

Public Finance Authority, Wisconsin, Educational Revenue

Bonds, Lake Norman Charter School, Series 2024A

.000

06/15/64

950,276

1,100,000

(c) Public Finance Authority, Wisconsin, Educational Revenue

Bonds, Wilson Preparatory Academy, Series 2019A

.000

06/15/49

965,291

600,000

(c) Public Finance Authority, Wisconsin, Revenue Bonds, Two Step

Project, Series 2024

.000

12/15/34

346,442

1,070,000

(c) Public Finance Authority, Wisconsin, Tax Increment Revenue

Senior Bonds, World Center Project Series 2024A

.000

06/01/41

1,076,878

500,000

(c) Public Finance Authority, Wisconsin, Tax Increment Revenue

Subordinate Bonds, World Center Project Series 2024B

.000

06/15/42

503,955

5,590,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

06/30/60

5,751,920

4,155,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

12/31/65

4,275,353

200,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Dickson Hollow Phase 2 Project,

Series 2024

.450

10/01/39

205,661

2,500,000

Wisconsin Health and Educational Facilities Authority,

Wisconsin, Revenue Bonds, Froedtert Health, Inc. Obligated

Group, Series 2017A

.000

04/01/39

2,422,124

TOTAL WISCONSIN

50,278,406

TOTAL MUNICIPAL BONDS

(Cost $1,106,348,945)

1,081,207,039

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

VARIABLE RATE SENIOR LOAN INTERESTS - 0.0%

CAPITAL GOODS - 0.0%

193,014

(a),(d)

KDC Agribusiness Fairless Hills LLC

.000

09/17/26

TOTAL CAPITAL GOODS

TOTAL VARIABLE RATE SENIOR LOAN INTERESTS

(Cost $193,014)

TOTAL LONG-TERM INVESTMENTS

(Cost $1,111,091,707)

1,086,266,537

BORROWINGS - 0.0% (i)

(524,482)

FLOATING RATE OBLIGATIONS - (2.5)%

(27,355,000)

OTHER ASSETS & LIABILITIES, NET - 3.5%

38,785,369

NET ASSETS - 100%

$

1,097,172,424

AMT

Alternative Minimum Tax

UB

Underlying bond of an inverse floating rate trust reflected as a financing transaction. Inverse floating rate trust is a Recourse Trust

unless otherwise noted.

#### Portfolio of Investments September 30, 2025
(continued)

#### Strategic Municipal Opportunities

See Notes to Financial Statements

(a) For fair value measurement disclosure purposes, investment classified as Level 3.

(b) Non-income producing; issuer has not declared an ex-dividend date within the past twelve months.

(c) Security is exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are deemed liquid

and may be resold in transactions exempt from registration, which are normally those transactions with qualified institutional buyers.

As of the end of the fiscal period, the aggregate value of these securities is $282,656,525 or 26.0% of Total Investments.

(d) Defaulted security. A security whose issuer has failed to fully pay principal and/or interest when due, or is under the protection of

bankruptcy.

(e) When-issued or delayed delivery security.

(f) Step-up coupon bond, a bond with a coupon that increases ("steps up"), usually at regular intervals, while the bond is outstanding.

The rate shown is the coupon as of the end of the fiscal period.

(g) Investment, or portion of investment, has been pledged to collateralize the net payment obligations for investments in inverse

floating rate transactions.

(h) Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities, which ensure the timely

payment of principal and interest.

(i) Borrowings as a percentage of Total Investments is 0.0%.

Statement of Assets and Liabilities

See Notes to Financial Statements

September 30, 2025 (Unaudited)

High Yield

Short Duration

High Yield

Strategic

Municipal

Opportunities

ASSETS

Long-term investments, at value

†

$

16,657,591,728

$

5,812,021,246

$

1,086,266,537

Affiliated investments, at value

++

–

29,622,000

–

Short-term investments, at value

◊

186,700,000

99,825,000

–

Cash

24,872,690

–

–

Cash collateral at broker for investments in futures contracts

(1) 18

7,719,993

Unrealized appreciation on credit default swaps contracts

2,424,762

–

–

Receivables:

Interest

416,027,412

102,312,697

18,887,109

Investments sold

14,287,458

38,279,594

28,575,182

Reclaims

1,742

–

–

Reimbursement from Adviser

7,791,049

1,375,747

114,023

Shares sold

30,638,194

13,120,358

1,892,398

Variation margin on futures contracts

–

4,265

–

Sale of Vistra Vision interest

#

(2) 692,753,422

176,431,221

11,755,243

Other

2,580,071

419,767

78,696

Total assets

18,035,668,546

6,281,131,888

1,147,569,229

LIABILITIES

Cash overdraft

–

3,722,643

Borrowings

–

–

524,482

Floating rate obligations

4,704,243,000

201,550,000

27,355,000

Swaps premiums received

2,036,062

–

–

Payables:

Management fees

5,178,096

2,406,085

428,592

Dividends

9,552,669

3,078,648

331,111

Interest

86,225,044

3,668,621

540,888

Investments purchased - regular settlement

3,738,692

36,940,274

8,675,890

Investments purchased - when-issued/delayed-delivery settlement

24,065,822

6,997,775

9,295,086

Shares redeemed

42,089,107

21,242,570

2,596,678

Vistra Vision sale transactions costs

(2) 16,840,962

4,289,075

285,772

Accrued expenses:

Custodian fees

609,526

379,316

108,272

Trustees fees

941,543

248,719

36,706

Professional fees

90,892

36,862

26,326

Shareholder reporting expenses

195,573

70,464

28,569

Shareholder servicing agent fees

1,086,810

489,680

108,350

12b-1 distribution and service fees

1,362,500

288,704

49,897

Other

23,639

19,673

4,881

Total liabilities

4,898,279,937

285,429,109

50,396,805

Commitments and contingencies

(3) Net assets

$

13,137,388,609

$

5,995,702,779

$

1,097,172,424

NET ASSETS CONSIST OF:

Paid-in capital

$

16,884,421,792

$

6,702,376,686

$

1,283,739,545

Total distributable earnings (loss)

(3,747,033,183)

(706,673,907)

(186,567,121)

Net assets

$

13,137,388,609

$

5,995,702,779

$

1,097,172,424

†

&nbsp;&nbsp;&nbsp;&nbsp;Long-term investments, cost

$

17,887,017,224

$

6,055,956,397

$

1,111,091,707

++

&nbsp;&nbsp;&nbsp;&nbsp;Affiliated investments, cost

$

—

$

30,038,313

$

—

◊

&nbsp;&nbsp;&nbsp;&nbsp;Short-term investments, cost

$

186,700,000

$

99,825,000

$

—

#

&nbsp;&nbsp;&nbsp;&nbsp;Net of discount of

$

30,546,192

$

7,779,538

$

518,335

(1) Cash pledged to collateralize the net payment obligations for investments in derivatives.

(2) Refer to Note 4 of the Notes to Financial Statements for more information.

(3) As disclosed in Notes to Financial Statements.

#### Statement of Assets and Liabilities
(continued)

See Notes to Financial Statements

High Yield

Short Duration

High Yield

Strategic

Municipal

Opportunities

CLASS A:

Net assets

$

5,650,507,776

$

1,353,756,463

$

212,087,735

Shares outstanding

394,872,287

143,852,770

21,591,766

Net asset value ("NAV") per share

$

14.31 $

9.41 $

9.82 Maximum sales charge

4.20%

2.50%

3.00%

Offering price per share (NAV per share plus maximum sales charge)

$

14.94 $

9.65 $

10.12 CLASS C:

Net assets

$

526,802,496

$

86,405,966

$

18,594,383

Shares outstanding

36,850,177

9,168,907

1,893,556

NAV and offering price per share

$

14.30 $

9.42 $

9.82 CLASS R6:

Net assets

$

435,257,284

$

—

$

—

Shares outstanding

30,394,072

—

—

NAV and offering price per share

$

14.32 $

—

$

—

CLASS I:

Net assets

$

6,524,821,053

$

4,555,540,350

$

866,490,306

Shares outstanding

455,816,794

483,121,785

88,166,773

NAV and offering price per share

$

14.31 $

9.43 $

9.83 Authorized shares - per class

Unlimited

Unlimited

Unlimited

Par value per share

$

0.01 $

0.01 $

0.01 Statement of Operations

See Notes to Financial Statements

,

A

Six Months Ended September 30, 2025 (Unaudited)

High Yield

Short Duration High

Yield

Strategic Municipal

Opportunities

INVESTMENT INCOME

Dividends

$

9,926

$

—

$

—

Dividends from affiliated investments

—

587,160

—

Interest

497,116,111

149,028,668

27,865,116

Securities lending income, net

—

2,367

—

Tax withheld

(2,482)

—

—

Total investment income

497,123,555

149,618,195

27,865,116

EXPENSES

–

–

–

Management fees

32,098,830

13,961,840

2,571,405

12b-1 service fees - Class A

5,721,383

1,269,513

210,107

12b-1 distribution and service fees - Class C

2,782,854

429,289

97,672

Shareholder servicing agent fees - Class A

1,076,149

233,829

43,721

Shareholder servicing agent fees - Class C

104,792

15,797

4,071

Shareholder servicing agent fees - Class R6

6,044

—

—

Shareholder servicing agent fees - Class I

1,229,044

789,167

175,566

Interest expense

79,792,531

3,416,912

545,281

Trustees fees

247,310

108,333

20,137

Custodian expenses, net

403,073

258,033

70,835

Registration fees

141,755

106,169

50,729

Professional fees

1,388,489

267,543

51,451

Shareholder reporting expenses

86,537

40,523

20,190

Other

63,796

27,586

9,449

Total expenses

125,142,587

20,924,534

3,870,614

Net investment income (loss)

371,980,968

128,693,661

23,994,502

REALIZED AND UNREALIZED GAIN (LOSS)

Realized gain (loss) from:

Investments

(146,494,984)

(33,348,926)

(4,971,191)

Futures contracts

—

(11,004,171)

(1,685,152)

Swap contracts

887,978

—

—

Net realized gain (loss)

(145,607,006)

(44,353,097)

(6,656,343)

Change in unrealized appreciation (depreciation) on:

Investments

(83,070,516)

(30,611,686)

1,137,968

Affiliated investments

—

(228,063)

—

Futures contracts

—

6,281,394

—

Swap contracts

(259,178)

—

—

Net change in unrealized appreciation (depreciation)

(83,329,694)

(24,558,355)

1,137,968

Net realized and unrealized gain (loss)

(228,936,700)

(68,911,452)

(5,518,375)

Net increase (decrease) in net assets from operations

$

143,044,268

$

59,782,209

$

18,476,127

Statement of Changes in Net Assets

See Notes to Financial Statements

High Yield

Short Duration High Yield

Unaudited

Six Months Ended

9/30/25

Year Ended

3/31/25

Unaudited

Six Months Ended

9/30/25

Year Ended

3/31/25

OPERATIONS

Net investment income (loss)

$

371,980,968

$

788,790,809

$

128,693,661

$

209,383,461

Net realized gain (loss)

(145,607,006)

377,125,000

(44,353,097)

61,399,836

Net change in unrealized appreciation (depreciation)

(83,329,694)

(835,403,740)

(24,558,355)

(102,147,153)

Net increase (decrease) in net assets from operations

143,044,268

330,512,069

59,782,209

168,636,144

DISTRIBUTIONS TO SHAREHOLDERS

Dividends:

Class A

(158,257,202)

(332,359,332)

(31,615,675)

(51,008,358)

Class C

(13,053,789)

(30,374,488)

(1,778,986)

(3,428,810)

Class R6

(12,548,809)

(28,379,472)

—

—

Class I

(187,572,689)

(413,967,943)

(110,563,637)

(174,492,882)

Total distributions

(371,432,489)

(805,081,235)

(143,958,298)

(228,930,050)

FUND SHARE TRANSACTIONS

Subscriptions

2,085,468,017

4,465,184,910

2,066,758,853

2,846,119,611

Reinvestments of distributions

313,031,277

681,234,833

126,005,598

201,842,560

Redemptions

(3,470,328,905)

(6,411,073,485)

(1,511,117,217)

(1,695,574,000)

Net increase (decrease) from Fund share transactions

(1,071,829,611)

(1,264,653,742)

681,647,234

1,352,388,171

Net increase (decrease) in net assets

(1,300,217,832)

(1,739,222,908)

597,471,145

1,292,094,265

Net assets at the beginning of period

14,437,606,441

16,176,829,349

5,398,231,634

4,106,137,369

Net assets at the end of period

$

13,137,388,609

$

14,437,606,441

$

5,995,702,779

$

5,398,231,634

See Notes to Financial Statements

Strategic Municipal Opportunities

Unaudited

Six Months Ended

9/30/25

Year Ended

3/31/25

OPERATIONS

Net investment income (loss)

$

23,994,502

$

46,192,534

Net realized gain (loss)

(6,656,343)

9,782,545

Net change in unrealized appreciation (depreciation)

1,137,968

(24,125,045)

Net increase (decrease) in net assets from operations

18,476,127

31,850,034

DISTRIBUTIONS TO SHAREHOLDERS

Dividends:

Class A

(4,544,365)

(8,640,489)

Class C

(343,496)

(790,365)

Class I

(19,289,265)

(36,300,047)

Total distributions

(24,177,126)

(45,730,901)

FUND SHARE TRANSACTIONS

Subscriptions

227,911,195

337,213,822

Reinvestments of distributions

22,244,751

42,417,252

Redemptions

(238,317,807)

(307,173,993)

Net increase (decrease) from Fund share transactions

11,838,139

72,457,081

Net increase (decrease) in net assets

6,137,140

58,576,214

Net assets at the beginning of period

1,091,035,284

1,032,459,070

Net assets at the end of period

$

1,097,172,424

$

1,091,035,284

Statement of Cash Flows

See Notes to Financial Statements

The following table provides a reconciliation of cash and cash collateral at brokers to the Statement of Assets and Liabilities:

t

e

Six Months Ended September 30, 2025 (Unaudited)

High Yield

CASH FLOWS FROM OPERATING ACTIVITIES

Net Increase (Decrease) in Net Assets from Operations

$

143,044,268

Adjustments to reconcile the net increase (decrease) in net assets from operations to net cash provided by (used in) operating activities:

Purchases of investments

(1,732,688,655)

Proceeds from sale and maturities of investments

3,243,564,833

Proceeds from (Purchase of) short-term investments, net

(77,550,000)

Premiums received (paid) for credit default swaps contracts

(424,978)

Amortization (Accretion) of premiums and discounts, net

(44,149,041)

(Increase) Decrease in:

Receivable for interest

(20,057,865)

Receivable for investments sold

181,210,814

Receivable for reimbursement from Adviser

(7,791,049)

Receivable for sale of Vistra Vision

21,021,163

Other assets

(1,516,401)

Increase (Decrease) in:

Payable for interest

35,861,383

Payable for investments purchased - regular settlement

(153,651,180)

Payable for investments purchased - when-issued/delayed-delivery settlement

(18,327,744)

Payable for management fees

(867,021)

Accrued custodian fees

173,661

Accrued 12b-1 distribution and service fees

(228,042)

Accrued Trustees fees

55,743

Accrued professional fees

26,645

Accrued shareholder reporting expenses

(35,268)

Accrued shareholder servicing agent fees

(74,712)

Accrued other expenses

16,173

Net realized (gain) loss from investments

146,494,984

Net realized (gain) loss from paydowns

(113,331)

Net change in unrealized (appreciation) depreciation of investments

83,070,516

Net change in unrealized (appreciation) depreciation of swap contracts

259,178

Net cash provided by (used in) operating activities

1,797,324,074

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from borrowings

64,800,000

(Repayments) of borrowings

(64,800,000)

Proceeds from floating rate obligations

639,585,000

(Repayments of) floating rate obligations

(939,895,000)

Cash distributions paid to common shareholders

(58,788,972)

Subscriptions

2,062,733,308

Redemptions

(3,478,692,969)

Net cash provided by (used in) financing activities

(1,775,058,633)

Net increase (decrease) in cash and cash collateral at brokers

22,265,441

Cash and cash collateral at brokers at the beginning of period

2,607,267

Cash and cash collateral at brokers at the end of period

$

24,872,708

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION

High Yield

Cash paid for interest

$

42,293,123

Non-cash financing activities not included herein consists of reinvestments of share distributions

313,031,277

High Yield

Cash

$

24,872,690

Cash collateral at broker for investments in futures contracts

Total cash and cash collateral at brokers

$

24,872,708

Financial Highlights

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

h

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income

(NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Return

of

Capital

Total

Net Asset

Value,

End of

Period

High Yield

Class

A

9/30/25

(d) $

14.51 $

0.39 $

(0.20)

$

0.19 $

(0.39)

$

—

$

—

$

(0.39)

$

14.31 3/31/25

14.97 0.74 (0.44)

0.30 (0.76)

—

—

(0.76)

14.51 3/31/24

15.15 0.67 (0.07)

0.60 (0.74)

—

(0.04)

(0.78)

14.97 3/31/23

16.95 0.81 (1.80)

(0.99)

(0.81)

—

—

(0.81)

15.15 3/31/22

17.87 0.83 (0.93)

(0.10)

(0.82)

—

—

(0.82)

16.95 3/31/21

16.22 0.88 1.62 2.50 (0.85)

—

—

(0.85)

17.87 Class

C

9/30/25

(d) 14.49 0.33 (0.19)

0.14 (0.33)

—

—

(0.33)

14.30 3/31/25

14.95 0.62 (0.44)

0.18 (0.64)

—

—

(0.64)

14.49 3/31/24

15.14 0.54 (0.07)

0.47 (0.62)

—

(0.04)

(0.66)

14.95 3/31/23

16.93 0.69 (1.80)

(1.11)

(0.68)

—

—

(0.68)

15.14 3/31/22

17.85 0.68 (0.93)

(0.25)

(0.67)

—

—

(0.67)

16.93 3/31/21

16.20 0.75 1.61 2.36 (0.71)

—

—

(0.71)

17.85 Class

R6

9/30/25

(d) 14.52 0.41 (0.20)

0.21 (0.41)

—

—

(0.41)

14.32 3/31/25

14.98 0.78 (0.45)

0.33 (0.79)

—

—

(0.79)

14.52 3/31/24

15.17 0.69 (0.07)

0.62 (0.77)

—

(0.04)

(0.81)

14.98 3/31/23

16.97 0.84 (1.80)

(0.96)

(0.84)

—

—

(0.84)

15.17 3/31/22

17.89 0.87 (0.93)

(0.06)

(0.86)

—

—

(0.86)

16.97 3/31/21

16.23 0.92 1.62 2.54 (0.88)

—

—

(0.88)

17.89 Class

I

9/30/25

(d) 14.52 0.40 (0.21)

0.19 (0.40)

—

—

(0.40)

14.31 3/31/25

14.97 0.77 (0.43)

0.34 (0.79)

—

—

(0.79)

14.52 3/31/24

15.16 0.69 (0.07)

0.62 (0.77)

—

(0.04)

(0.81)

14.97 3/31/23

16.96 0.85 (1.81)

(0.96)

(0.84)

—

—

(0.84)

15.16 3/31/22

17.87 0.87 (0.93)

(0.06)

(0.85)

—

—

(0.85)

16.96 3/31/21

16.22 0.92 1.61 2.53 (0.88)

—

—

(0.88)

17.87 (a) Based on average shares outstanding.

(b) Total returns are at NAV and do not include any sales charge. Total returns are not annualized.

(c) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on

the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the

Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on

borrowings, as described in Notes to Financial Statements.

(d) Unaudited.

(e) Annualized.

See Notes to Financial Statements

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b) Net

Assets,

End of

Period (000)

Expenses

Including

Interest

(c) Expenses

Excluding

Interest

NII

(Loss)

Portfolio

Turnover

Rate

.39

%

$

5,650,508

.96

%

(e) 0

.76

%

(e) 5

.55

%

(e) 10

%

.94

6,112,764

.00

.75

.94

.21

6,796,508

.11

.79

.55

(5

.79)

7,040,067

.63

.76

.24

(0

.79)

7,898,026

.92

.72

.55

.62

8,064,891

.96

.74

.17

.04

526,802

.76

(e) 1

.56

(e) 4

.74

(e) 10

.13

619,537

.80

.55

.13

.32

786,884

.91

.59

.72

(6

.51)

960,502

.43

.56

.45

(1

.59)

1,341,334

.72

.52

.75

.67

1,449,724

.76

.54

.39

.52

435,257

.72

(e) 0

.52

(e) 5

.77

(e) 10

.19

488,723

.77

.52

.17

.39

527,604

.87

.55

.66

(5

.55)

1,004,656

.39

.52

.46

(0

.56)

933,197

.69

.49

.79

.86

774,499

.73

.51

.44

.43

6,524,821

.76

(e) 0

.56

(e) 5

.74

(e) 10

.22

7,216,583

.80

.55

.14

.35

8,065,834

.91

.59

.71

(5

.52)

9,310,347

.43

.56

.50

(0

.59)

11,387,620

.72

.52

.75

.87

10,487,347

.76

.54

.37

#### Financial Highlights
(continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

account

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income (NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Total

Net Asset

Value,

End of

Period

Short Duration High Yield

Class

A

9/30/25

(e) $

9.57 $

0.21 $

(0.14)

$

0.07 $

(0.23)

$

—

$

(0.23)

$

9.41 3/31/25

9.65 0.41 (0.04)

0.37 (0.45)

—

(0.45)

9.57 3/31/24

9.52 0.39 0.15 0.54 (0.41)

—

(0.41)

9.65 3/31/23

10.07 0.39 (0.61)

(0.22)

(0.33)

—

(0.33)

9.52 3/31/22

10.31 0.32 (0.24)

0.08 (0.32)

—

(0.32)

10.07 3/31/21

9.73 0.37 0.58 0.95 (0.37)

—

(0.37)

10.31 Class

C

9/30/25

(e) 9.58 0.17 (0.13)

0.04 (0.20)

—

(0.20)

9.42 3/31/25

9.66 0.34 (0.04)

0.30 (0.38)

—

(0.38)

9.58 3/31/24

9.53 0.31 0.15 0.46 (0.33)

—

(0.33)

9.66 3/31/23

10.08 0.31 (0.61)

(0.30)

(0.25)

—

(0.25)

9.53 3/31/22

10.32 0.24 (0.24)

—

(0.24)

—

(0.24)

10.08 3/31/21

9.73 0.29 0.59 0.88 (0.29)

—

(0.29)

10.32 Class

I

9/30/25

(e) 9.58 0.22 (0.13)

0.09 (0.24)

—

(0.24)

9.43 3/31/25

9.67 0.43 (0.05)

0.38 (0.47)

—

(0.47)

9.58 3/31/24

9.54 0.40 0.15 0.55 (0.42)

—

(0.42)

9.67 3/31/23

10.09 0.41 (0.61)

(0.20)

(0.35)

—

(0.35)

9.54 3/31/22

10.33 0.34 (0.24)

0.10 (0.34)

—

(0.34)

10.09 3/31/21

9.75 0.39 0.58 0.97 (0.39)

—

(0.39)

10.33 (a) Based on average shares outstanding.

(b) Total returns are at NAV and do not include any sales charge. Total returns are not annualized.

(c) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on

the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the

Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on

borrowings, as described in Notes to Financial Statements.

(d) After fee waiver and/or expense reimbursement from the Adviser, where applicable. See Notes to Financial Statements

for more information.

(e) Unaudited.

(f) Annualized.

See Notes to Financial Statements

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b) Net

Assets,

End of

Period (000)

Gross

Expenses

Including

Interest

(c) Gross

Expenses

Excluding

Interest

Net

Expenses

Including

Interest

(c),(d)

Net

Expenses

Excluding

Interest

(d) NII

(Loss)

(d) Portfolio

Turnover

Rate

.81

%

$

1,353,756

.88

%

(f) 0

.76

%

(f) 0

.88

%

(f) 0

.76

%

(f) 4

.42

%

(f) 17

%

.90

1,207,533

.95

.77

.95

.77

.26

.82

982,788

.07

.81

.06

.80

.12

(2

.07)

1,150,158

.92

.77

.92

.77

.03

.62

1,351,901

.77

.75

.77

.75

.05

.55

1,042,073

.81

.77

.81

.77

.74

.39

86,406

.68

(f) 1

.56

(f) 1

.68

(f) 1

.56

(f) 3

.62

(f) 17

.07

87,149

.75

.57

.75

.57

.46

.95

93,636

.87

.61

.86

.60

.30

(2

.86)

129,289

.72

.57

.72

.57

.23

(0

.18)

153,569

.57

.55

.57

.55

.26

.73

146,478

.61

.57

.61

.57

.94

.01

4,555,540

.68

(f) 0

.56

(f) 0

.68

(f) 0

.56

(f) 4

.63

(f) 17

.98

4,103,550

.75

.57

.75

.57

.46

.01

3,029,714

.87

.61

.86

.60

.28

(1

.85)

4,002,802

.72

.57

.72

.57

.21

.83

5,059,951

.57

.55

.57

.55

.24

.72

3,518,001

.61

.57

.61

.57

.93

(continued)

The following data is for a share outstanding for each fiscal year end unless otherwise noted:

Investment Operations

Less Distributions

Net Asset

Value,

Beginning

of Period

Net

Investment

Income (NII)

(Loss)

(a) Net

Realized/

Unrealized

Gain (Loss)

Total

From

NII

From

Net Realized

Gains

Total

Net Asset

Value,

End of

Period

Strategic Municipal Opportunities

Class

A

9/30/25

(e) $

9.87 $

0.21 $

(0.05)

$

0.16 $

(0.21)

$

—

$

(0.21)

$

9.82 3/31/25

10.00 0.42 (0.14)

0.28 (0.41)

—

(0.41)

9.87 3/31/24

9.81 0.38 0.19 0.57 (0.38)

—

(0.38)

10.00 3/31/23

10.74 0.34 (0.88)

(0.54)

(0.30)

(0.09)

(0.39)

9.81 3/31/22

11.55 0.27 (0.61)

(0.34)

(0.28)

(0.19)

(0.47)

10.74 3/31/21

10.68 0.29 0.89 1.18 (0.28)

(0.03)

(0.31)

11.55 Class

C

9/30/25

(e) 9.87 0.17 (0.05)

0.12 (0.17)

—

(0.17)

9.82 3/31/25

9.99 0.34 (0.13)

0.21 (0.33)

—

(0.33)

9.87 3/31/24

9.80 0.30 0.19 0.49 (0.30)

—

(0.30)

9.99 3/31/23

10.74 0.26 (0.89)

(0.63)

(0.22)

(0.09)

(0.31)

9.80 3/31/22

11.54 0.18 (0.61)

(0.43)

(0.18)

(0.19)

(0.37)

10.74 3/31/21

10.67 0.20 0.89 1.09 (0.19)

(0.03)

(0.22)

11.54 Class

I

9/30/25

(e) 9.88 0.22 (0.05)

0.17 (0.22)

—

(0.22)

9.83 3/31/25

10.00 0.44 (0.13)

0.31 (0.43)

—

(0.43)

9.88 3/31/24

9.81 0.40 0.18 0.58 (0.39)

—

(0.39)

10.00 3/31/23

10.75 0.36 (0.89)

(0.53)

(0.32)

(0.09)

(0.41)

9.81 3/31/22

11.56 0.29 (0.61)

(0.32)

(0.30)

(0.19)

(0.49)

10.75 3/31/21

10.69 0.31 0.89 1.20 (0.30)

(0.03)

(0.33)

11.56 (a) Based on average shares outstanding.

(b) Total returns are at NAV and do not include any sales charge. Total returns are not annualized.

(c) The Fund has a contractual fee waiver/expense reimbursement agreement with the Adviser, but did not receive a fee

waiver/expense reimbursement during the periods presented herein. See Notes to Financial Statements for more

information.

(d) The expense ratios reflect, among other things, the interest expense deemed to have been paid by the Fund on

the floating rate certificates issued by the special purpose trusts for the self-deposited inverse floaters held by the

Fund, where applicable, as described in Notes to Financial Statements and the interest expense and fees paid on

borrowings, as described in Notes to Financial Statements.

(e) Unaudited.

(f) Annualized.

See Notes to Financial Statements

Ratio/Supplemental Data

Ratios to Average Net Assets

Total

Return

(b) Net

Assets,

End of

Period (000)

Expenses

Including

Interest

(c),(d)

Expenses

Excluding

Interest

(c) NII

(Loss)

(c) Portfolio

Turnover

Rate

.67

%

$

212,088

.86

%

(f) 0

.76

%

(f) 4

.33

%

(f) 30

%

.82

214,674

.84

.75

.15

.95

203,024

.81

.79

.89

(4

.94)

210,260

.83

.79

.43

(3

.20)

235,489

.78

.76

.32

.13

218,844

.80

.78

.58

.26

18,594

.66

(f) 1

.56

(f) 3

.52

(f) 30

.10

21,330

.64

.55

.34

.10

26,150

.61

.59

.08

(5

.70)

30,733

.63

.59

.64

(4

.00)

32,846

.58

.56

.52

.26

32,753

.60

.58

.79

.79

866,490

.66

(f) 0

.56

(f) 4

.53

(f) 30

.14

855,032

.64

.55

.35

.14

803,285

.61

.59

.08

(4

.81)

876,498

.62

.58

.60

(3

.00)

1,192,377

.58

.56

.52

.35

988,085

.60

.58

.79

Notes to Financial Statements

(Unaudited)

1. General Information

Trust and Fund Information:

The Nuveen Municipal Trust (the "Trust"), is an open-end management investment company registered under

the Investment Company Act of 1940 (the "1940 Act"), as amended. The Trust is comprised of Nuveen High Yield Municipal Bond Fund ("High

Yield"), Nuveen Short Duration High Yield Municipal Bond Fund ("Short Duration High Yield") and Nuveen Strategic Municipal Opportunities Fund

("Strategic Municipal Opportunities") (each a "Fund" and collectively, the "Funds"), among others. The Trust was organized as a Massachusetts

business trust on July 1, 1996.

Current Fiscal Period

: The end of the reporting period for the Funds is September 30, 2025, and the period covered by these Notes to Financial

Statements is the six months ended September 30, 2025 (the "current fiscal period").

Investment Adviser and Sub-Adviser:

The Funds' investment adviser, Nuveen Fund Advisors, LLC (the "Adviser"), is a subsidiary of Nuveen, LLC

("Nuveen"). Nuveen is the investment management arm of Teachers Insurance and Annuity Association of America (TIAA). The Adviser has overall

responsibility for management of the Funds, oversees the management of the Funds' portfolios, manages the Funds' business affairs and provides

certain clerical, bookkeeping and other administrative services, and, if necessary, asset allocation decisions. The Adviser has entered into sub-

advisory agreements with Nuveen Asset Management, LLC, (the "Sub-Adviser"), a subsidiary of the Adviser, under which the Sub-Adviser manages

the investment portfolios of the Funds.

Share Classes and Sales Charges:

Class A Shares are generally sold with an up-front sales charge. Class A Share purchases of $250,000 ($500,000

prior to August 19, 2024) or more for High Yield and $250,000 or more for Short Duration High Yield and Strategic Municipal Opportunities are sold

at net asset value ("NAV") without an up-front sales charge but may be subject to a contingent deferred sales charge ("CDSC") of 1% for High Yield

and Strategic Municipal Opportunities and 0.70% for Short Duration High Yield if redeemed within eighteen months of purchase. Class C Shares are

sold without an up-front sales charge but are subject to a CDSC of 1% if redeemed within twelve months of purchase. Class C Shares automatically

convert to Class A Shares eight years after purchase. Class R6 Shares and Class I Shares are sold without an upfront sales charge.

2. Significant Accounting Policies

The accompanying financial statements were prepared in accordance with accounting principles generally accepted in the United States of America

("U.S. GAAP"), which may require the use of estimates made by management and the evaluation of subsequent events. Actual results may differ

from those estimates. The Funds are investment companies and follow the accounting guidance in the Financial Accounting Standards Board

("FASB") Accounting Standards Codification 946, Financial Services — Investment Companies. The NAV for financial reporting purposes may differ

from the NAV for processing security and common share transactions. The NAV for financial reporting purposes includes security and common share

transactions through the date of the report. Total return is computed based on the NAV used for processing security and common share transactions.

The following is a summary of the significant accounting policies consistently followed by the Funds.

Compensation:

The Trust pays no compensation directly to those of its officers, all of whom receive remuneration for their services to the Trust from

the Adviser or its affiliates. The Funds' Board of Trustees (the "Board") has adopted a deferred compensation plan for independent trustees that

enables trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from certain Nuveen-advised

funds. Under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of select Nuveen-advised funds.

Custodian Fee Credit:

As an alternative to overnight investments, each Fund has an arrangement with its custodian bank, State Street Bank and

Trust Company, (the "Custodian") whereby certain custodian fees and expenses are reduced by net credits earned on each Fund's cash on deposit

with the bank. Credits for cash balances may be offset by charges for any days on which a Fund overdraws its account at the Custodian. The amount

of custodian fee credit earned by a Fund is recognized on the Statement of Operations as a component of "Custodian expenses, net." During the

current fiscal period, the custodian fee credit earned by each Fund was as follows:

Distributions to Shareholders:

Distributions to shareholders are recorded on the ex-dividend date. The amount, character and timing of

distributions are determined in accordance with federal income tax regulations, which may differ from U.S. GAAP.

Indemnifications:

Under the Trust's organizational documents, its officers and trustees are indemnified against certain liabilities arising out of

the performance of their duties to the Trust. In addition, in the normal course of business, the Trust enters into contracts that provide general

indemnifications to other parties. The Trust's maximum exposure under these arrangements is unknown as this would involve future claims that may

be made against the Trust that have not yet occurred. However, the Trust has not had prior claims or losses pursuant to these contracts and expects

the risk of loss to be remote.

Fund

Gross

Custodian Fee

Credits

High Yield

$

—

Short Duration High Yield

—

Strategic Municipal Opportunities

—

#### Notes to Financial Statements
(continued)

Investments and Investment Income:

Securities transactions are accounted for as of the trade date for financial reporting purposes. Realized gains

and losses on securities transactions are based upon the specific identification method. Investment income is comprised of dividend income and

interest income. Dividend income is recorded on the ex-dividend date. Non-cash dividends received the form of stock, if any, are recognized on

the ex-dividend date and recorded at fair value. Interest income, which is recorded on an accrual basis and includes the accretion of discounts and

the amortization of premiums for financial reporting purposes. Interest income also reflects payment-in-kind ("

PIK") interest and paydown gains and

losses, if any. PIK interest represents income received in the form of securities in lieu of cash. Securities lending income is comprised of fees earned

from borrowers and income earned on cash collateral investments.

Multiclass Operations and Allocations:

Income and expenses of the Funds that are not directly attributable to a specific class of shares are prorated

among the classes based on the relative value of the settled shares of each class. Expenses directly attributable to a class of shares are recorded to

the specific class. 12b-1 distribution and service fees are allocated on a class-specific basis.

Sub-transfer agent fees and similar fees, which are recognized as a component of "Shareholder servicing agent fees" on the Statement of

Operations, are not charged to Class R6 Shares and are prorated among the other classes based on their relative settled shares.

Realized and unrealized capital gains and losses of the Funds are prorated among the classes based on the relative net assets of each class.

Netting Agreements:

In the ordinary course of business, the Funds may enter into transactions subject to enforceable master repurchase

agreements, International Swaps and Derivatives Association, Inc. (ISDA) master agreements or other similar arrangements ("netting agreements").

Generally, the right to offset in netting agreements allows each Fund to offset certain securities and derivatives with a specific counterparty, when

applicable, as well as any collateral received or delivered to that counterparty based on the terms of the agreements. Generally, each Fund manages

its cash collateral and securities collateral on a counterparty basis. With respect to certain counterparties, in accordance with the terms of the netting

agreements, collateral posted to the Funds is held in a segregated account by the Funds' custodian and/or with respect to those amounts which can

be sold or repledged, are presented in the Funds' Portfolio of Investments or Statement of Assets and Liabilities.

The Funds' investments subject to netting agreements as of the end of the current fiscal period, if any, are further described later in these Notes to

Financial Statements.

Segment Reporting:

Each Fund represents a single operating segment. The officers of the Funds act as the chief operating decision maker

("CODM"). The CODM monitors the operating results of each Fund as a whole and is responsible for each Fund's long-term strategic asset allocation

in accordance with the terms of its prospectus, based on a defined investment strategy which is executed by the Fund's portfolio managers as a

team. The financial information in the form of the Fund's portfolio composition, total returns, expense ratios and changes in net assets (i.e., changes

in net assets resulting from operations, subscriptions and redemptions), which are used by the CODM to assess the segment's performance versus

the Fund's comparative benchmarks and to make resource allocation decisions for the Fund's single segment, is consistent with that presented within

the Fund's financial statements. Segment assets are reflected on the Statement of Assets and Liabilities as "total assets" and significant segment

revenues and expenses are listed on the Statement of Operations.

New Accounting Pronouncement

: In December 2023, the FASB issued Accounting Standard Update ("ASU") No. 2023-09, Income Taxes (Topic

740) Improvements to Income tax disclosures ("ASU 2023-09"). The primary purpose of the amendments within ASU 2023-09 is to enhance the

transparency and decision usefulness of income tax disclosures primarily related to the rate reconciliation table and income taxes paid information.

The amendments in ASU 2023-09 are effective for annual periods beginning after December 15, 2024. Management is currently evaluating the

implications of these changes on the financial statements.

3. Investment Valuation and Fair Value Measurements

The Funds' investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Adviser, subject to

oversight of the Board. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly

transaction to an independent buyer in the principal or most advantageous market for the investment. U.S. GAAP establishes the three-tier hierarchy

which is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value

measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability.

Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect management's

assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best

information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.

Level 1 – Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.

Level 2 – Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit

spreads, etc.).

Level 3 – Prices are determined using significant unobservable inputs (including management's assumptions in determining the fair value of

investments).

A description of the valuation techniques applied to the Funds' major classifications of assets and liabilities measured at fair value follows:

Equity securities and exchange-traded funds listed or traded on a national market or exchange are valued based on their last reported sales price

or official closing price of such market or exchange on the valuation date. Foreign equity securities and registered investment companies that trade

on a foreign exchange are valued at the last reported sales price or official closing price on the principal exchange where traded, and converted to

U.S. dollars at the prevailing rates of exchange on the valuation date. For events affecting the value of foreign securities between the time when

the exchange on which they are traded closes and the time when the Funds' net assets are calculated, such securities will be valued at fair value in

accordance with procedures adopted by the Adviser, subject to the oversight of the Board. To the extent these securities are actively traded and no

valuation adjustments are applied, they are generally classified as Level 1. When valuation adjustments are applied to the most recent last sales price

or official closing price, these securities are generally classified as Level 2.

Prices of fixed-income securities are generally provided by pricing services approved by the Adviser, which is subject to review by the Adviser and

oversight of the Board. Pricing services establish a security's fair value using methods that may include consideration of the following: yields or

prices of investments of comparable quality, type of issue, coupon, maturity and rating, market quotes or indications of value from security dealers,

evaluations of anticipated cash flows or collateral, general market conditions and other information and analysis, including the obligor's credit

characteristics considered relevant. In pricing certain securities, particularly less liquid and lower quality securities, pricing services may consider

information about a security, its issuer or market activity provided by the Adviser. These securities are generally classified as Level 2.

Investments in investment companies are valued at their respective NAVs or share price on the valuation date and are generally classified as Level 1.

Repurchase agreements are valued at contract amount plus accrued interest, which approximates market value. These securities are generally

classified as Level 2.

Swap contracts are marked-to-market daily based upon a price supplied by a pricing service. Swaps are generally classified as Level 2.

Futures contracts are valued using the closing settlement price or, in the absence of such a price, the last traded price and are generally classified as

Level 1.

For any portfolio security or derivative for which market quotations are not readily available or for which the Adviser deems the valuations derived

using the valuation procedures described above not to reflect fair value, the Adviser will determine a fair value in good faith using alternative

procedures approved by the Adviser, subject to the oversight of the Board. As a general principle, the fair value of a security is the amount that

the owner might reasonably expect to receive for it in a current sale. A variety of factors may be considered in determining the fair value of such

securities, which may include consideration of the following: yields or prices of investments of comparable quality, type of issue, coupon, maturity

and rating, market quotes or indications of value from security dealers, evaluations of anticipated cash flows or collateral, general market conditions

and other information and analysis, including the obligor's credit characteristics considered relevant. To the extent the inputs are observable and

timely, the values would be classified as Level 2; otherwise they would be classified as Level 3.

The following table summarizes the market value of the Funds' investments as of the end of the current fiscal period, based on the inputs used to

value them:

High Yield

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Common Stocks

$

211,874

$

–

$

$

211,884

Corporate Bonds

–

1,159,740

23,140,152

24,299,892

Municipal Bonds

–

16,631,624,606

11,303

16,631,635,909

Variable Rate Senior Loan Interests

–

–

1,444,043

1,444,043

Short-Term Investments:

Repurchase Agreements

–

186,700,000

–

186,700,000

Unfunded Commitments\*

–

–

–\*\*

–\*\*

Investments in Derivatives:

Credit Default Swaps\*\*\*

–

–

2,424,762

2,424,762

Total

$

211,874

$

16,819,484,346

$

27,020,270

$

16,846,716,490

Short Duration High Yield

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Common Stocks

$

–

$

–

$

$

Corporate Bonds

–

–

6,825,000

6,825,000

Exchange-Traded Funds

29,622,000

–

–

29,622,000

Municipal Bonds

–

5,800,558,569

1,711

5,800,560,280

Variable Rate Senior Loan Interests

–

–

4,635,964

4,635,964

Short-Term Investments:

Repurchase Agreements

–

99,825,000

–

99,825,000

Unfunded Commitments\*

–

–

–\*\*

–\*\*

Investments in Derivatives:

Futures Contracts\*\*\*

(1,871,305)

–

–

(1,871,305)

Total

$

27,750,695

$

5,900,383,569

$

11,462,677

$

5,939,596,941

(continued)

The Funds hold liabilities in floating rate obligations, where applicable, which are not reflected in the tables above. The fair values of the Funds'

liabilities for floating rate obligations approximate their liquidation values. Floating rate obligations are generally classified as Level 2 and further

described in these Notes to Financial Statements. The Funds, where applicable, have a receivable for the sale of their interest in Vistra Vision, which

is not reflected in the tables above. The carrying value of this receivable approximates fair value. The "Receivable for sale of Vistra Vision interest" is

generally classified as Level 2 and further described in these Notes to Financial Statements.

4. Portfolio Securities

Inverse Floating Rate Securities:

Each Fund is authorized to invest in inverse floating rate securities. An inverse floating rate security is created

by depositing a municipal bond (referred to as an "Underlying Bond"), typically with a fixed interest rate, into a special purpose tender option

rate certificates (referred to as "Floaters"), in face amounts equal to some fraction of the Underlying Bond's par amount or market value, and (b)

an inverse floating rate certificate (referred to as an "Inverse Floater") that represents all remaining or residual interest in the TOB Trust. Floaters

typically pay short-term tax-exempt interest rates to third parties who are also provided a right to tender their certificate and receive its par value,

which may be paid from the proceeds of a remarketing of the Floaters, by a loan to the TOB Trust from a third party liquidity provider ("Liquidity

Provider"), or by the sale of assets from the TOB Trust. The Inverse Floater is issued to a long term investor, such as one or more Funds. The income

received by the Inverse Floater holder varies inversely with the short-term rate paid to holders of the Floaters, and in most circumstances the Inverse

Floater holder bears substantially all of the Underlying Bond's downside investment risk and also benefits disproportionately from any potential

appreciation of the Underlying Bond's value. The value of an Inverse Floater will be more volatile than that of the Underlying Bond because the

interest rate is dependent on not only the fixed coupon rate of the Underlying Bond but also on the short-term interest paid on the Floaters, and

because the Inverse Floater essentially bears the risk of loss (and possible gain) of the greater face value of the Underlying Bond.

The Inverse Floater held by a Fund gives the Fund the right to (a) cause the holders of the Floaters to tender their certificates at par (or slightly more

than par in certain circumstances), and (b) have the trustee of the TOB Trust (the "Trustee") transfer the Underlying Bond held by the TOB Trust to

the Fund, thereby collapsing the TOB Trust.

or (b) transfers an Underlying Bond that it owns, or that it has purchased in a secondary market transaction for the purpose of creating an Inverse

Floater, to a TOB Trust created at its direction, and in return receives the Inverse Floater of the TOB Trust (referred to as a "self-deposited Inverse

Floater"). A Fund may also purchase an Inverse Floater in a secondary market transaction from a third party creator of the TOB Trust without first

owning the Underlying Bond (referred to as an "externally-deposited Inverse Floater").

An investment in a self-deposited Inverse Floater is accounted for as a "financing" transaction (i.e., a secured borrowing). For a self-deposited

Inverse Floater, the Underlying Bond deposited into the TOB Trust is identified in the Fund's Portfolio of Investments as "(UB) – Underlying bond of

an inverse floating rate trust reflected as a financing transaction," with the Fund recognizing as liabilities, labeled "Floating rate obligations" on the

Statement of Assets and Liabilities, (a) the liquidation value of Floaters issued by the TOB Trust, and (b) the amount of any borrowings by the TOB

Trust from a Liquidity Provider to enable the TOB Trust to purchase outstanding Floaters in lieu of a remarketing. In addition, the Fund recognizes in

"Investment Income" the entire earnings of the Underlying Bond, and recognizes (a) the interest paid to the holders of the Floaters or on the TOB

Trust's borrowings, and (b) other expenses related to remarketing, administration, trustee, liquidity and other services to a TOB Trust, as a component

of "Interest expense" on the Statement of Operations. Earnings due from the Underlying Bond and interest due to the holders of the Floaters as of

the end of the reporting period are recognized as components of "Receivable for interest" and "Payable for interest" on the Statement of Assets

and Liabilities, respectively.

In contrast, an investment in an externally-deposited Inverse Floater is accounted for as a purchase of the Inverse Floater and is identified in the

Fund's Portfolio of Investments as "(IF) – Inverse floating rate investment." For an externally-deposited Inverse Floater, a Fund's Statement of Assets

and Liabilities recognizes the Inverse Floater and not the Underlying Bond as an asset, and the Fund does not recognize the Floaters, or any related

borrowings from a Liquidity Provider, as a liability. Additionally, the Fund reflects in "Investment Income" only the net amount of earnings on the

Inverse Floater (net of the interest paid to the holders of the Floaters or the Liquidity Provider as lender, and the expenses of the Trust), and does not

show the amount of that interest paid or the expenses of the TOB Trust as described above as interest expense on the Statement of Operations.

Strategic Municipal Opportunities

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Common Stocks

$

–

$

–

$

–\*\*

$

–

Corporate Bonds

–

4,641,406

418,073

5,059,479

Municipal Bonds

–

1,081,206,744

1,081,207,039

Variable Rate Senior Loan Interests

–

–

Unfunded Commitments\*

–

–

–\*\*

–\*\*

Total

$

–

$

1,085,848,150

$

418,387

$

1,086,266,537

\*

Unfunded commitments are valued at the unrealized appreciation (depreciation) on the commitment.

\*\*

Value equals zero as of the end of the reporting period.

\*\*\*

Represents net unrealized appreciation (depreciation).

Fees paid upon the creation of a TOB Trust for self-deposited Inverse Floaters and externally-deposited Inverse Floaters are recognized as part of

the cost basis of the Inverse Floater and are capitalized over the term of the TOB Trust.

As of the end of the reporting period, the aggregate value of Floaters issued by each Fund's TOB Trust for self-deposited Inverse Floaters and

externally-deposited Inverse Floaters was as follows:

During the current fiscal period, the average amount of Floaters (including any borrowings from a Liquidity Provider) outstanding, and the average

annual interest rates and fees related to self-deposited Inverse Floaters, were as follows:

TOB Trusts are supported by a liquidity facility provided by a Liquidity Provider pursuant to which the Liquidity Provider agrees, in the event that

Floaters are (a) tendered to the Trustee for remarketing and the remarketing does not occur, or (b) subject to mandatory tender pursuant to the

terms of the TOB Trust agreement, to either purchase Floaters or to provide the Trustee with an advance from a loan facility to fund the purchase of

Floaters by the TOB Trust. In certain circumstances, the Liquidity Provider may otherwise elect to have the Trustee sell the Underlying Bond to retire

the Floaters that were tendered and not remarketed prior to providing such a loan. In these circumstances, the Liquidity Provider remains obligated

to provide a loan to the extent that the proceeds of the sale of the Underlying Bond are not sufficient to pay the purchase price of the Floaters.

The size of the commitment under the loan facility for a given TOB Trust is at least equal to the balance of that TOB Trust's outstanding Floaters plus

any accrued interest. In consideration of the loan facility, fee schedules are in place and are charged by the Liquidity Provider(s). Any loans made

by the Liquidity Provider will be secured by the purchased Floaters held by the TOB Trust. Interest paid on any outstanding loan balances will be

effectively borne by the Fund that owns the Inverse Floaters of the TOB Trust that has incurred the borrowing and may be at a rate that is greater

than the rate that would have been paid had the Floaters been successfully remarketed.

As described above, any amounts outstanding under a liquidity facility are recognized as a component of "Floating rate obligations" on the

Statement of Assets and Liabilities by the Fund holding the corresponding Inverse Floaters issued by the borrowing TOB Trust. As of the end of the

reporting period, there were no loans outstanding under any such facility.

Each Fund may also enter into shortfall and forbearance agreements (sometimes referred to as a "recourse arrangement") (TOB Trusts involving such

agreements are referred to herein as "Recourse Trusts"), under which a Fund agrees to reimburse the Liquidity Provider for the Trust's Floaters, in

certain circumstances, for the amount (if any) by which the liquidation value of the Underlying Bond held by the TOB Trust may fall short of the sum

of the liquidation value of the Floaters issued by the TOB Trust plus any amounts borrowed by the TOB Trust from the Liquidity Provider, plus any

shortfalls in interest cash flows (sometimes referred to as "shortfall payment"). Under these agreements, a Fund's potential exposure to losses related

to or on an Inverse Floater may increase beyond the value of the Inverse Floater as a Fund may potentially be liable to fulfill all amounts owed to

holders of the Floaters or the Liquidity Provider. Any such shortfall amount in the aggregate is recognized as "Unrealized depreciation on Recourse

Trusts" on the Statement of Assets and Liabilities. During the current fiscal period, none of the Funds made shortfall Payments.

As of the end of the reporting period, the Funds maximum exposure to the Floaters issued by Recourse Trusts for self-deposited Inverse Floaters and

externally-deposited Inverse Floaters was as follows:

Fund

Floating Rate

Obligations: Self-

Deposited

Inverse Floaters

Floating Rate

Obligations:

Externally-Deposited

Inverse Floaters

Total

High Yield

$

4,704,243,000

$

47,430,000

$

4,751,673,000

Short Duration High Yield

201,550,000

23,855,000

225,405,000

Strategic Municipal Opportunities

27,355,000

—

27,355,000

Fund

Average Floating

Rate Obligations

Outstanding

Average Annual

Interest Rate

And Fees

High Yield

$

4,953,221,104

3.15 %

Short Duration High Yield

201,550,000

3.16 Strategic Municipal Opportunities

32,962,945

3.02 Fund

Maximum Exposure

to Recourse Trusts:

Self-Deposited

Inverse Floaters

Maximum Exposure

to Recourse Trusts:

Externally-Deposited

Inverse Floaters

Total

High Yield

$

4,704,243,000

$

47,430,000

$

4,751,673,000

Short Duration High Yield

201,550,000

23,855,000

225,405,000

Strategic Municipal Opportunities

27,355,000

—

27,355,000

(continued)

Repurchase Agreements:

In connection with transactions in repurchase agreements, it is each Fund's policy that its custodian take possession of the

underlying collateral securities, the fair value of which exceeds the principal amount of the repurchase transaction, including accrued interest, at all

times. If the counterparty defaults, and the fair value of the collateral declines, realization of the collateral may be delayed or limited.

The following table presents the repurchase agreements for the Funds that are subject to netting agreements as of the end of the current fiscal

period, and the collateral delivered related to those repurchase agreements.

Securities Lending:

High Yield and Short Duration High Yield may lend securities representing up to one-third of the value of its total assets to

broker-dealers, banks, and other institutions in order to generate additional income. When loaning securities, each Fund retains the benefits of

owning the securities, including the economic equivalent of dividends or interest generated by the security. The loans are continuous, can be

recalled at any time, and have no set maturity. The Funds' custodian, State Street Bank and Trust Company, serves as the securities lending agent

(the "Agent").

When a Fund loans its portfolio securities, it will receive, at the inception of each loan, cash collateral equal to an amount not less than 100% of the

market value of the loaned securities. The actual percentage of the cash collateral will vary depending upon the asset type of the loaned securities.

Collateral for the loaned securities is invested in a government money market vehicle maintained by the Agent, which is subject to the requirements

of Rule 2a-7 under the 1940 Act. The value of the loaned securities and the liability to return the cash collateral received are recognized on the

Statement of Assets and Liabilities. If the market value of the loaned securities increases, the borrower must furnish additional collateral to the Fund,

which is also recognized on the Statement of Assets and Liabilities. The market value of securities loaned is determined at the close of business of

the Funds and any additional required collateral is delivered to the Funds on the next business day. Securities out on loan are subject to termination

at any time at the option of the borrower or the Fund. Upon termination, the borrower is required to return to the Fund securities identical to the

securities loaned. During the term of the loan, the Fund bears the market risk with respect to the investment of collateral and the risk that the Agent

may default on its contractual obligations to the Fund. The Agent bears the risk that the borrower may default on its obligation to return the loaned

securities as the Agent is contractually obligated to indemnify the Fund if at the time of a default by a borrower some or all of the loan securities

have not been returned.

Securities lending income recognized by a Fund consists of earnings on invested collateral and lending fees, net of any rebates to the borrower and

compensation to the Agent. Such income is recognized on the Statement of Operations.

As of the end of the current fiscal period, the Fund did not have any securities out on loan.

Zero Coupon Securities:

A zero coupon security does not pay a regular interest coupon to its holders during the life of the security. Income to the

holder of the security comes from accretion of the difference between the original purchase price of the security at issuance and the par value of the

security at maturity and is effectively paid at maturity. The market prices of zero coupon securities generally are more volatile than the market prices

of securities that pay interest periodically.

Purchases and Sales:

Long-term purchases and sales during the current fiscal period were as follows:

The Funds may purchase securities on a when-issued or delayed-delivery basis. Securities purchased on a when-issued or delayed-delivery basis

may have extended settlement periods; interest income is not accrued until settlement date. Any securities so purchased are subject to market

fluctuation during this period. If a Fund has outstanding when-issued/delayed-delivery purchases commitments as of the end of the current fiscal

period, such amounts are recognized on the Statement of Assets and Liabilities. Each Fund has invested in an unfunded commitment, in which,

each Fund assumes the rights and risks of ownership of the security, including the risk of price and yield fluctuations. In the event of default by

the counterparty, each Fund's maximum amount of loss is the unrealized appreciation of the unsettled transaction. Any unrealized appreciation

(depreciation) for an unfunded commitment is separately presented on the Statement of Assets and Liabilities. An unfunded commitment is priced at

its fair value and any unrealized appreciation (depreciation) is separately presented on the Statement of Assets and Liabilities.

Fund

Counterparty

Short-term

Investments,

at Value

Collateral

Pledged (From)

Counterparty

High Yield

Fixed Income Clearing Corp

$

186,700,000

$

(190,434,117)

Short Duration High Yield

Fixed Income Clearing Corp

99,825,000

(101,821,605)

Fund

Non-U.S.

Government

Purchases

U.S.

Government

Purchases

Non-U.S.

Government Sales

and Maturities

U.S.

Government

Sales

High Yield

$

1,732,688,655

$

—

$

3,243,564,833

$

—

Short Duration High Yield

1,730,551,146

—

937,902,997

—

Strategic Municipal Opportunities

316,300,844

9,935,418

323,536,478

9,978,650

As of September 30, 2025, further details of each Fund's unfunded commitment is as follows:

Puerto Rico Electric Power Authority ("PREPA") Bonds:

On March 28, 2025, the Financial Oversight and Management Board for Puerto Rico (the

"FOMB") filed the Fifth Amended Plan of Adjustment (the "Fifth Amended Plan") that would reduce PREPA debt from approximately $10 billion to

the equivalent of $2.6 billion of Base Consideration for creditors in cash or bonds, reflecting the projections and findings of a new PREPA fiscal plan

that was certified by the FOMB on February 6, 2025.

The Fund's holdings in Puerto Rico Electric Power Authority bonds experienced notable developments during the reporting period related to the

utility's bankruptcy proceedings. Specifically, the federal government's decision in August 2025 to remove several FOMB members. This action

created additional uncertainty regarding the composition of the FOMB as well as the proposed plan's viability.

In response to these evolving circumstances, the Funds, along with other bondholders, chose to allow their Bond Purchase Agreement with

the FOMB to expire on October 1, 2025. Instead, the Funds joined the amended and restated cooperation agreement with other non-settling

bondholders and insurers. This coalition now represents nearly 90% of PREPA's outstanding revenue bonds. This unified creditor group seeks more

favorable debt recovery terms and equitable treatment for all bondholders. As the bankruptcy court awaits appointment of new FOMB members

and potential mediation proceedings the ultimate resolution timeline and terms remain subject to court approval and continued negotiation among

stakeholders.

Management is monitoring the bankruptcy proceedings and ongoing developments on the valuation of the unfunded commitment and the existing

PREPA bonds held by the Fund.

5. Derivative Investments

Each Fund is authorized to invest in certain derivative instruments. As defined by U.S. GAAP, a derivative is a financial instrument whose value is

derived from an underlying security price, foreign exchange rate, interest rate, index of prices or rates, or other variables. Investments in derivatives

as of the end of and/or during the current fiscal period, if any, are included within the Statement of Assets and Liabilities and the Statement of

Operations, respectively.

Credit Default Swap Contracts:

A Fund may enter into a credit default swap contract to seek to maintain a total return on a particular investment

or portion of its portfolio, or to take an active long or short position with respect to the likelihood of a particular issuer's default. During the current

period, High Yield used credit default swap contracts to purchase credit protection on certain credits, or to take on credit risk on other credits and

earn a commensurate credit spread. Credit default swap contracts involve one party making a stream of payments to another party in exchange for

the right to receive a specified return if/when there is a credit event by a third party. Generally, a credit event means bankruptcy, failure to pay, or

restructuring. The specific credit events applicable for each credit default swap are stated in the terms of the particular swap agreement. When a

Fund has bought (sold) protection in a credit default swap upon occurrence of a specific credit event with respect to the underlying referenced entity,

the Fund will either (i) deliver (receive) that security, or an equivalent amount of cash, from the counterparty in exchange for receipt (payment) of the

notional amount to the counterparty, or (ii) receive (pay) a net settlement amount of the credit default swap contract less the recovery value of the

referenced obligation or underlying securities comprising the referenced index. The difference between the value of the security received (delivered)

and the notional amount delivered (received) is recorded as a realized gain or loss. Payments paid (received) at the beginning of the measurement

period are recognized as a component of "Credit default swaps premiums paid and/or received" on the Statement of Assets and Liabilities, when

applicable.

Credit default swap contracts are valued daily. Changes in the value of a credit default swap during the fiscal period are recognized as a component

of "Change in net unrealized appreciation (depreciation) of swaps" and realized gains and losses are recognized as a component of "Net realized

gain (loss) from swaps" on the Statement of Operations.

For over-the-counter ("OTC") swaps not cleared through a clearing house ("OTC Uncleared"), the daily change in the market value of the swap

contract, along with any daily interest fees accrued, are recognized as components of "Unrealized appreciation or depreciation on credit default

swaps" on the Statement of Assets and Liabilities.

Upon the execution of an OTC swap cleared through a clearing house ("OTC Cleared"), a Fund is obligated to deposit cash or eligible securities,

also known as "initial margin," into an account at its clearing broker equal to a specified percentage of the contract amount. Cash held by the

broker to cover initial margin requirements on open swap contracts, if any, is recognized as "Cash collateral at brokers for investments in swaps"

on the Statement of Assets and Liabilities. Investments in OTC Cleared swaps obligate a Fund and the clearing broker to settle monies on a daily

basis representing changes in the prior day's "mark-to-market" of the swap. If a Fund has unrealized appreciation the clearing broker would credit

the Fund's account with an amount equal to the appreciation and conversely if a Fund has unrealized depreciation the clearing broker would debit

a Fund's account with an amount equal to the depreciation. These daily cash settlements are also known as "variation margin." Variation margin for

Fund

Asset Class

Principal

Amount

Value

Unrealized

Appreciation

(Depreciation)

High Yield

Unfunded Commitments

$605,992,349

$-

$-

Short Duration High Yield

Unfunded Commitments

106,452,705

-

-

Strategic Municipal Opportunities

Unfunded Commitments

8,831,518

-

-

(continued)

OTC Cleared swaps is recognized as a receivable and/or payable for "Variation margin on swap contracts" on the Statement of Assets and Liabilities.

Upon the execution of an OTC Uncleared swap, neither the Fund nor the counterparty is required to deposit initial margin as the trades are recorded

bilaterally between both parties to the swap contract, and the terms of the variation margin are subject to a predetermined threshold negotiated by

the Fund and the counterparty. Variation margin for OTC Uncleared swaps is recognized as a component of "Unrealized appreciation or depreciation

on credit default swaps" as described in the preceding paragraph. The maximum potential amount of future payments the Fund could incur as a

buyer or seller of protection in a credit default swap contract is limited to the notional amount of the contract. The maximum potential amount would

be offset by the recovery value, if any, of the respective referenced entity.

The average notional amount of credit default swap contracts outstanding during the current fiscal period was as follows:

The following table presents the swap contracts subject to netting agreements and the collateral delivered related to those swap contracts as of the

end of the reporting period.

Futures Contracts

:

During the current fiscal period, Short Duration High Yield and Strategic Municipal Opportunities managed the duration of their

portfolios by shorting interest rate futures contracts.

A futures contract is an agreement between two parties to buy and sell a financial instrument for a set price on a future date. Upon execution of a

futures contract, the Fund is obligated to deposit cash or eligible securities, also known as "initial margin," into an account at its clearing broker

equal to a specified percentage of the contract amount. Securities deposited for initial margin, if any, are identified in the Portfolio of Investments

and cash deposited for initial margin, if any, is reflected on the Statement of Assets and Liabilities.

During the period the futures contract is open, changes in the market value of the contract are recognized as an unrealized gain or loss by "marking-

to-market" on a daily basis. The Fund and the clearing broker are obligated to settle monies on a daily basis representing the changes in the value

of the contracts. These daily cash settlements are known as "variation margin" and is recognized on the Statement of Assets and Liabilities as a

receivable or payable for variation margin on futures contracts. When the contract is closed or expired, the Fund records a realized gain or loss

equal to the difference between the value of the contract on the closing date and value of the contract when originally entered into. The net realized

gain or loss and the change in unrealized appreciation (depreciation) on futures contracts held during the period is included on the Statement of

Operations.

Risks of investments in futures contracts include the possible adverse movement in the price of the securities or indices underlying the contracts, the

possibility that there may not be a liquid secondary market for the contracts and/or that a change in the value of the contract may not correlate with

a change in the value of the underlying securities or indices.

The average notional amount of futures contracts outstanding during the current fiscal period was as follows:

Fund

Average Notional Amount of Credit Default

Swaps Contracts Outstanding

\*

High Yield

$

90,000,000

\*

The average notional amount is calculated based on the absolute aggregate notional amount of contracts outstanding at the beginning of the current fiscal

period and at the end of each fiscal quarter within the current fiscal period.

Gross Amounts Not Offset on

the Statement of Assets and

Liabilities

Fund

Counterparty

Gross

Unrealized

Appreciation

Credit Default

Swaps\*\*

Gross

Unrealized

(Depreciation)

Credit Default

Swaps\*\*

Net Unrealized

Appreciation

(Depreciation) on

Credit Default

Swaps

Credit Default

Swaps

Premium

Paid

(Received)

Financial

Instruments\*\*\*

Collateral

Pledged

to (from)

Counterparty

Net Exposure

High Yield

Citigroup Global

Markets Inc.

$

2,424,762

$-

$

2,424,762

$(2,036,062)

$-

$(363,121)

$25,579

\*\*&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; Represents gross unrealized appreciation (depreciation) for the counterparty as reported in the Fund's Portfolio of Investments.

\*\*\* &nbsp;&nbsp;&nbsp;&nbsp; Represents inverse floating rate securities available to offset.

Fund

Average Notional Amount of Futures

Contracts Outstanding

\*

Short Duration High Yield

$

521,971,025

Strategic Municipal Opportunities

–\*\*

\*

The average notional amount is calculated based on the absolute aggregate notional amount of contracts outstanding at the beginning of the current fiscal

period and at the end of each fiscal quarter within the current fiscal period.

\*\*

The Fund invested in futures contracts during the fiscal period. However, the Fund did not hold any such positions at the beginning of the fiscal period or at

the end of each fiscal quarter within the current fiscal period and therefore are not included as part of this calculation.

As of the end of the current fiscal period, the following Funds have invested in derivative contracts which are reflected in the Statement of Assets

and Liabilities as follows:

During the current fiscal period, the effect of derivative contracts on the Funds' Statement of Operations was as follows:

Market and Counterparty Credit Risk:

In the normal course of business each Fund may invest in financial instruments and enter into financial

transactions where risk of potential loss exists due to changes in the market (market risk) or failure of the other party to the transaction to perform

(counterparty credit risk). The potential loss could exceed the value of the financial assets recorded on the financial statements. Financial assets,

which potentially expose each Fund to counterparty credit risk, consist principally of cash due from counterparties on forward, option and swap

transactions, when applicable. The extent of each Fund's exposure to counterparty credit risk in respect to these financial assets approximates their

carrying value as recorded on the Statement of Assets and Liabilities.

Each Fund helps manage counterparty credit risk by entering into agreements only with counterparties the Adviser believes have the financial

resources to honor their obligations and by having the Adviser monitor the financial stability of the counterparties. Additionally, counterparties may

be required to pledge collateral daily (based on the daily valuation of the financial asset) on behalf of each Fund with a value approximately equal

to the amount of any unrealized gain above a pre-determined threshold. Reciprocally, when each Fund has an unrealized loss, the Funds have

instructed the custodian to pledge assets of the Funds as collateral with a value approximately equal to the amount of the unrealized loss above a

pre-determined threshold. Collateral pledges are monitored and subsequently adjusted if and when the valuations fluctuate, either up or down, by

at least the pre-determined threshold amount.

Asset Derivatives

Liability Derivatives

Derivative Instrument

Risk Exposure

Location

Value

Location

Value

High Yield

Credit Default Swaps - OTC

Uncleared

Credit

Unrealized appreciation on

swap contracts

\*

$

2,424,762

-

$

–

Short Duration High Yield

Futures Contracts

Interest rate

-

–

Unrealized depreciation on

futures contracts

\*\*

(1,871,305)

\*

Some swap contracts require a counterparty to pay or receive a premium, which is disclosed on the Statement of Assets and Liabilities and is not reflected in

the cumulative unrealized appreciation (depreciation) presented above.

\*\*

The fair value presented includes cumulative gain (loss) on open futures contracts; however, the value reflected in the accompanying Statement of Assets and

Liabilities is only the receivable or payable for variation margin on open futures contracts.

Derivative Instrument

Risk Exposure

Net Realized Gain

(Loss)

Change in

Unrealized

Appreciation

(Depreciation)

High Yield

Swap contracts

Credit

$

887,978

$

(259,178)

Short Duration High Yield

Futures contracts

Interest rate

(11,004,171)

6,281,394

Strategic Municipal Opportunities

Futures contracts

Interest rate

(1,685,152)

–

(continued)

6. Fund Shares

Transactions in Fund shares during the current and prior fiscal period were as follows:

Six Months Ended

9/30/25

Year Ended

3/31/25

High Yield

Shares

Value

Shares

Value

Subscriptions:

Class A

35,786,872

$499,095,087

83,929,464

$1,259,884,299

Class A - automatic conversion of Class C

1,461

20,507

40,038

606,269

Class C

1,653,282

23,066,390

6,061,764

90,915,556

Class R6

5,563,979

78,112,332

18,791,830

284,285,041

Class I

106,259,182

1,485,173,701

189,015,875

2,829,493,745

Total subscriptions

149,264,776

2,085,468,017

297,838,971

4,465,184,910

Reinvestments of distributions:

Class A

10,029,663

140,222,067

19,551,371

292,313,403

Class C

889,155

12,419,805

1,911,323

28,542,437

Class R6

206,477

2,888,713

295,262

4,405,849

Class I

11,260,225

157,500,692

23,792,033

355,973,144

Total reinvestments of distributions

22,385,520

313,031,277

45,549,989

681,234,833

Redemptions:

Class A

(72,186,757)

(1,010,430,458)

(136,329,974)

(2,040,369,006)

Class C

(8,433,339)

(117,648,364)

(17,816,792)

(266,794,233)

Class C - automatic conversion to Class A

(1,462)

(20,507)

(40,084)

(606,269)

Class R6

(9,026,859)

(125,896,115)

(20,650,622)

(309,978,293)

Class I

(158,810,263)

(2,216,333,461)

(254,338,003)

(3,793,325,684)

Total redemptions

(248,458,680)

(3,470,328,905)

(429,175,475)

(6,411,073,485)

Net increase (decrease)

(76,808,384)

$(1,071,829,611)

(85,786,515)

$(1,264,653,742)

Six Months Ended

9/30/25

Year Ended

3/31/25

Short Duration High Yield

Shares

Value

Shares

Value

Subscriptions:

Class A

40,660,669

$381,016,036

56,248,702

$546,822,087

Class A - automatic conversion of Class C

2,475

23,091

2,422

23,630

Class C

1,675,629

15,735,468

3,004,715

29,229,041

Class I

177,935,880

1,669,984,258

233,228,295

2,270,044,853

Total subscriptions

220,274,653

2,066,758,853

292,484,134

2,846,119,611

Reinvestments of distributions:

Class A

2,981,153

27,924,378

4,686,380

45,509,325

Class C

169,006

1,585,280

311,618

3,029,912

Class I

10,279,666

96,495,940

15,761,156

153,303,323

Total reinvestments of distributions

13,429,825

126,005,598

20,759,154

201,842,560

Redemptions:

Class A

(26,027,613)

(243,637,262)

(36,512,883)

(355,029,619)

Class C

(1,772,857)

(16,635,704)

(3,903,487)

(38,034,810)

Class C - automatic conversion to Class A

(2,473)

(23,091)

(2,419)

(23,630)

Class I

(133,269,001)

(1,250,821,160)

(134,162,435)

(1,302,485,941)

Total redemptions

(161,071,944)

(1,511,117,217)

(174,581,224)

(1,695,574,000)

Net increase (decrease)

72,632,534

$681,647,234

138,662,064

$1,352,388,171

7. Income Tax Information

Each Fund is a separate taxpayer for federal income tax purposes. Each Fund intends to distribute substantially all of its net investment income and

net capital gains to shareholders and otherwise comply with the requirements of Subchapter M of the Internal Revenue Code applicable to regulated

investment companies. Therefore, no federal income tax provision is required.

Each Fund intends to satisfy conditions that will enable interest from municipal securities, which is exempt from regular federal income tax, to retain

such tax-exempt status when distributed to shareholders of the Funds. Net realized capital gains and ordinary income distributions paid by the Funds

are subject to federal taxation.

Each Fund files income tax returns in U.S. federal and applicable state and local jurisdictions. A Fund's federal income tax returns are generally

subject to examination for a period of three fiscal years after being filed. State and local tax returns may be subject to examination for an additional

period of time depending on the jurisdiction. Management has analyzed each Fund's tax positions taken for all open tax years and has concluded

that no provision for income tax is required in the Fund's financial statements.

As of the end of the reporting period, the aggregate cost and the net unrealized appreciation/(depreciation) of all investments for federal income tax

purposes were as follows:

For purposes of this disclosure, tax cost generally includes the cost of portfolio investments as well as up-front fees or premiums exchanged on

derivatives and any amounts unrealized for income statement reporting but realized income and/or capital gains for tax reporting, if applicable.

As of prior fiscal period end, the components of accumulated earnings on a tax basis were as follows:

Six Months Ended

9/30/25

Year Ended

3/31/25

Strategic Municipal Opportunities

Shares

Value

Shares

Value

Subscriptions:

Class A

2,911,641

$28,183,741

6,682,478

$67,066,165

Class A - automatic conversion of Class C

1,140

11,152

—

—

Class C

167,517

1,620,356

338,833

3,399,919

Class I

20,443,561

198,095,946

26,632,598

266,747,738

Total subscriptions

23,523,859

227,911,195

33,653,909

337,213,822

Reinvestments of distributions:

Class A

467,512

4,529,950

860,325

8,617,124

Class C

35,453

343,481

78,851

789,619

Class I

1,791,176

17,371,320

3,292,286

33,010,509

Total reinvestments of distributions

2,294,141

22,244,751

4,231,462

42,417,252

Redemptions:

Class A

(3,535,031)

(34,216,967)

(6,107,556)

(61,174,759)

Class C

(469,660)

(4,542,666)

(873,171)

(8,738,234)

Class C - automatic conversion to Class A

(1,140)

(11,152)

—

—

Class I

(20,617,977)

(199,547,022)

(23,666,949)

(237,261,000)

Total redemptions

(24,623,808)

(238,317,807)

(30,647,676)

(307,173,993)

Net increase (decrease)

1,194,192

$11,838,139

7,237,695

$72,457,081

Fund

Tax Cost

Gross Unrealized

Appreciation

Gross

Unrealized

(Depreciation)

Net

Unrealized

Appreciation

(Depreciation)

High Yield

$

13,438,016,616

$

321,967,931

$

(1,566,046,137)

$

(1,244,078,206)

Short Duration High Yield

5,981,774,052

91,691,282

(326,744,496)

(235,053,214)

Strategic Municipal Opportunities

1,082,066,356

24,529,244

(46,861,364)

(22,332,120)

Fund

Undistributed

Tax-Exempt

Income

Undistributed

Ordinary

Income

Undistributed

Long-Term

Capital Gains

Unrealized

Appreciation

(Depreciation)

Capital Loss

Carryforwards

Late-Year Loss

Deferrals

Other

Book-to-Tax

Differences

Total

High Yield

$

27,283,466

$

21,469,682

$

—

$

(1,201,674,984)

$

(2,301,723,776)

$

—

$

(63,999,350)

$

(3,518,644,962)

Short Duration

High Yield

36,857,358

6,813,285

—

(215,672,858)

(427,635,493)

—

(22,860,110)

(622,497,818)

Strategic

Municipal

Opportunities

6,707,112

816,070

—

(24,850,502)

(159,569,671)

—

(3,969,132)

(180,866,123)

Undistributed tax-exempt income (on a tax basis) has not been reduced for the dividends declared during the period March 3, 2025 through March 31, 2025

and paid on April 1, 2025.

(continued)

As of prior fiscal period end, the Funds had capital loss carryforwards, which will not expire:

8. Management Fees and Other Transactions with Affiliates

Management Fees:

Each Fund's management fee compensates the Adviser for the overall investment advisory and administrative services and

general office facilities. The Sub-Adviser is compensated for its services to the Funds from the management fees paid to the Adviser.

Each Fund's management fee consists of two components – a fund-level fee, based only on the amount of assets within each individual Fund, and

a complex-level fee, based on the aggregate amount of all eligible fund assets managed by the Adviser. This pricing structure enables each Fund's

shareholders to benefit from growth in the assets within their respective Fund as well as from growth in the amount of complex-wide assets managed

by the Adviser.

The annual fund-level fee, payable monthly, for each Fund was calculated according to the following schedule:

The annual complex-level fee, payable monthly, for each Fund is calculated according to the following schedule:

\* The complex-level fee is calculated based upon the aggregate daily "eligible assets" of all Nuveen-branded closed-end funds and Nuveen branded open-end funds ("Nuveen Mutual

Funds"). Except as described below, eligible assets include the assets of all Nuveen-branded closed-end funds and Nuveen Mutual Funds organized in the United States. Eligible assets do

not include the net assets of: Nuveen fund-of-funds, Nuveen money market funds, Nuveen index funds, Nuveen Large Cap Responsible Equity Fund or Nuveen Life Large Cap Responsible

Equity Fund. In addition, eligible assets include a fixed percentage of the aggregate net assets of the active equity and fixed income Nuveen Mutual Funds advised by the Adviser's affiliate,

Teachers Advisors, LLC (except those identified above). The fixed percentage will increase annually until May 1, 2033, at which time eligible assets will include all of the aggregate net assets

of the active equity and fixed income Nuveen Mutual Funds advised by Teachers Advisors, LLC (except those identified above). Eligible assets include closed-end fund assets managed by

the Adviser that are attributable to financial leverage. For these purposes, financial leverage includes the closed-end funds' use of preferred stock and borrowings and certain investments

in the residual interest certificates (also called inverse floating rate securities) in tender option bond (TOB) trusts, including the portion of assets held by a TOB trust that has been effectively

financed by the trust's issuance of floating rate securities, subject to an agreement by the Adviser as to certain funds to limit the amount of such assets for determining eligible assets in

certain circumstances.

Fund

Short-Term

Long-Term

Total

High Yield

$

1,674,813,181

$

626,910,595

$

2,301,723,776

Short Duration High Yield

402,778,053

24,857,440

427,635,493

Strategic Municipal Opportunities

77,699,112

81,870,559

159,569,671

Average Daily Net Assets

High Yield

Short Duration

High Yield

Strategic

Municipal

Opportunities

For the first $125 million

0.4000 %

0.4000 %

0.3500 %

For the next $125 million

0.3875 0.3875 0.3375 For the next $250 million

0.3750 0.3750 0.3250 For the next $500 million

0.3625 0.3625 0.3125 For the next $1 billion

0.3500 0.3500 0.3000 For the next $3 billion

-

-

0.2750 For the next $5 billion

-

-

0.2500 For the next $8 billion

0.3250 0.3250 -

For the next $5 billion

0.3125 0.3125 -

For the next $5 billion

0.3000 0.3000 -

For net assets over $10 billion

-

-

0.2375 For net assets over $20 billion

0.2875 0.2875 -

Complex-Level Asset Breakpoint Level\*

Complex-Level Fee

For the first $124.3 billion

0.1600 %

For the next $75.7 billion

0.1350 For the next $200 billion

0.1325 For eligible assets over $400 billion

0.1300 291

As of the end of the current fiscal period, the annual complex-level fee for each Fund was as follows:

The Adviser has agreed to waive fees and/or reimburse expenses ("Expense Cap") of the following Funds so that the total annual Fund operating

expenses (excluding 12b-1 distribution and/or service fees, interest expenses, taxes, acquired fund fees and expenses, fees incurred in acquiring and

disposing of portfolio securities and extraordinary expenses) do not exceed the average daily net assets of any class of Fund shares in the amounts

and for the time periods stated in the following table. The expense limitations expiring July 31, 2026, may be terminated or modified prior to that

date only with the approval of the Board.

Distribution and Service Fees:

Each Fund has adopted a distribution and service plan under rule 12b-1 under the 1940 Act. Class A Shares incur

a 0.20% annual 12b-1 service fee. Class C Shares incur a 0.75% annual 12b-1 distribution fee and a 0.25% annual 12b-1 service fee. Class R6 and

Class I Shares are not subject to 12b-1 distribution or service fees. The fees under this plan compensate Nuveen Securities, LLC, (the "Distributor"), a

wholly-owned subsidiary of Nuveen, for services provided and expenses incurred in distributing shares of the Funds and establishing and maintaining

shareholder accounts.

Other Transactions with Affiliates:

The Funds are permitted to purchase or sell securities from or to certain other funds or accounts managed by

the Sub-Adviser or by an affiliate of the Adviser (each an, "Affiliated Entity") under specified conditions outlined in procedures adopted by the Board

("cross-trade"). These procedures have been designed to ensure that any cross-trade of securities by the Fund from or to an Affiliated Entity by

virtue of having a common investment adviser (or affiliated investment adviser), common officer and/or common trustee complies with Rule 17a-7

under the 1940 Act. These transactions are effected at the current market price (as provided by an independent pricing service) without incurring

broker commissions. During the current fiscal period, the Funds engaged in the following security transactions with affiliated entities:

During the current fiscal period, the Distributor, collected sales charges on purchases of Class A Shares, the majority of which were paid out as

concessions to financial intermediaries as follows:

The Distributor also received 12b-1 service fees on Class A Shares, substantially all of which were paid to compensate financial intermediaries for

providing services to shareholders relating to their investments.

During the current fiscal period, the Distributor compensated financial intermediaries directly with commission advances at the time of purchase as

follows:

To compensate for commissions advanced to financial intermediaries, all 12b-1 service and distribution fees collected on Class C Shares during the

first year following a purchase are retained by the Distributor. During the current fiscal period, the Distributor retained such 12b-1 fees as follows:

Fund

Complex-Level Fee

High Yield

0.1564 %

Short Duration High Yield

0.1564 Strategic Municipal Opportunities

0.1564 Fund

Temporary

Expense Cap

Temporary

Expense Cap

Expiration Date

Short Duration High Yield

0.65%

July 31, 2027

Strategic Municipal Opportunities

0.64%

July 31, 2027

Fund

Purchases

Sales

Realized

Gain (Loss)

High Yield

$

—

$

141,104,190

$

(20,068,477)

Short Duration High Yield

108,016,890

5,550,890

(443,688)

Fund

Sales Charges

Collected

Paid to Financial

Intermediaries

High Yield

$

2,129,965

$

2,075,071

Short Duration High Yield

1,241,425

1,214,708

Strategic Municipal Opportunities

156,697

154,028

Fund

Commission

Advances

High Yield

$

1,912,117

Short Duration High Yield

1,198,133

Strategic Municipal Opportunities

151,154

(continued)

The remaining 12b-1 fees charged to each Fund were paid to compensate financial intermediaries for providing services to shareholders relating to

their investments.

The Distributor also collected and retained CDSC on share redemptions during the current fiscal period, as follows:

Investments in other investment companies advised by the Adviser and Nuveen Fund Advisors, LLC are deemed to be affiliated investments.

Information regarding transactions with affiliated companies is as follows:

9. Commitments and Contingencies

In the normal course of business, each Fund enters into a variety of agreements that may expose the Funds to some risk of loss. These could include

recourse arrangements for certain TOB Trusts, which are described elsewhere in these Notes to Financial Statements. The risk of future loss arising

from such agreements, while not quantifiable, is expected to be remote. As of the end of the current fiscal period, the Funds did not have any

unfunded commitments other than those disclosed in the Notes to Financial Statements, when applicable.

From time to time, the Funds may be a party to certain legal proceedings in the ordinary course of business, including proceedings relating to

the enforcement of the Funds' rights under contracts. As of the end of the current fiscal period, the Funds are not subject to any material legal

proceedings.

10. Borrowing Arrangements

Line of Credit:

The Funds, along with certain funds managed by the Adviser or by an affiliate of the Adviser ("Participating Funds"), have established

a 364-day, $2.7 billion standby credit facility with a group of lenders, under which the Participating Funds may borrow for temporary purposes (other

than on-going leveraging for investment purposes). Each Participating Fund is allocated a designated proportion of the facility's capacity (and its

associated costs, as described below) based upon a multi-factor assessment of the likelihood and frequency of its need to draw on the facility, the

size of the Fund and its anticipated draws, and the potential importance of such draws to the operations and well-being of the Fund, relative to

those of the other Funds. A Fund may effect draws on the facility in excess of its designated capacity if and to the extent that other Participating

Funds have undrawn capacity. The credit facility expires in June 2026, unless extended or renewed.

The credit facility has the following terms: 0.15% per annum on unused commitment amounts and a drawn interest rate equal to the higher

of (a) OBFR (Overnight Bank Funding Rate) plus 1.20% per annum or (b) the Fed Funds Effective Rate plus 1.20% per annum on amounts

borrowed. Interest expense incurred by the Participating Funds, when applicable, is recognized as a component of "Interest expense" on the

Statement of Operations. Participating Funds paid administration, legal and arrangement fees, which are recognized as a component of "Interest

expense" on the Statement of Operations, and along with commitment fees, have been allocated among such Participating Funds based upon the

relative proportions of the facility's aggregate capacity reserved for them and other factors deemed relevant by the Adviser and the Board of each

Participating Fund.

During the current fiscal period, the following Funds utilized this facility. The Funds' maximum outstanding balance during the utilization period was

as follows:

Fund

12b-1 Fees

Retained

High Yield

$

283,385

Short Duration High Yield

74,152

Strategic Municipal Opportunities

6,392

Fund

CDSC

Retained

High Yield

$

449,324

Short Duration High Yield

85,552

Strategic Municipal Opportunities

12,009

Issue

Value at

3/31/25

Purchases

Cost

Sales

Proceeds

Realized

Gain (Loss)

Change in

Unrealized

Appreciation

(Depreciation)

Shares at

9/30/25

Value at

9/30/25

Dividend

Income

Short Duration High Yield

Exchange-Traded Funds

Nuveen High Yield Municipal

Bond ETF

$

23,826,000

$

6,024,062

$

–

$

–

$

(228,062)

1,200,000

$

29,622,000

$

587,160

Total

$23,826,000

$6,024,062

$–

$–

$(228,062)

1,200,000

$29,622,000

$587,160

During each Fund's utilization period(s) during the current fiscal period, the average daily balance outstanding and average annual interest rate on

the Borrowings were as follows:

Borrowings outstanding as of the end of the reporting period, if any, are recognized as "Borrowings" on the Statement of Assets and Liabilities.

11. Subsequent Event

Puerto Rico Electric Power Authority Bonds:

As mentioned earlier in these Notes to Financial Statements, On October 1, 2025, the Funds chose to

allow their Bond Purchase Agreements with the FOMB to expire.

Fund

Maximum

Outstanding

Balance

High Yield

$

27,300,000

Short Duration High Yield

—

Strategic Municipal Opportunities

9,600,000

Fund

Utilization

Period (Days

Outstanding)

Average

Daily Balance

Outstanding

Average Annual

Interest Rate

High Yield

$

14,431,250

5.53 %

Short Duration High Yield

—

—

—

Strategic Municipal Opportunities

7,362,415

5.50 ------

**Item 8.** **Changes in and Disagreements with Accountants for Open-End Management Investment Companies.** <br>

Not applicable.

------

**Item 9.** **Proxy Disclosures for Open-End Management Investment Companies.** <br>

Not applicable.

------

**Item 10.** **Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.** <br>

The aggregate remuneration paid to the directors/trustees (all of whom are independent) by each Fund is reported as "Directors/Trustees fees" on the Statement of Operations under Item 7 of this Form N-CSR.

The Funds do not pay any remuneration to their officers. The aggregate remuneration paid to Nuveen Fund Advisors, LLC, the Funds' investment adviser and an affiliate of the Funds' officers, is reported as "Management fees" on the Statement of Operations under Item 7 of this Form N-CSR.

------

## Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

#### Nuveen All-American Municipal Bond Fund

#### Nuveen Intermediate Duration Municipal Bond Fund

#### Nuveen Limited Term Municipal Bond Fund

#### Nuveen Short Term Municipal Bond Fund

#### The Approval Process
At meetings held on April 28 and 29, 2025 (the "Meeting"), the Board of Trustees of Nuveen Municipal Trust ("Municipal Trust") and the Board of Directors of Nuveen Investment Funds, Inc. ("NIF") (collectively, the "Board" and each Trustee or Director, as applicable, a "Board Member") approved, for each applicable series of Municipal Trust and NIF, the renewal of the investment management agreement (each an "Investment Management Agreement") with Nuveen Fund Advisors, LLC ("NFAL" or the "Adviser"). Similarly, for each respective series, the Board approved the renewal of the sub-advisory agreement (each a "Sub-Advisory Agreement") with Nuveen Asset Management, LLC (the "Sub-Adviser"). NFAL is a subsidiary of Nuveen, LLC, the investment management arm of Teachers Insurance and Annuity Association of America ("TIAA"). The Sub-Adviser is also an affiliate of the Adviser. The Board Members are not "interested persons" (as defined under the Investment Company Act of 1940 (the "1940 Act")) and, therefore, the Board is deemed to be comprised of all disinterested Board Members. References to the Board and the Board Members are interchangeable. Below is a summary of the annual review process the Board undertook related to its most recent renewal of the Investment Management Agreement and Sub-Advisory Agreement with respect to each series covered by this report (the "Funds").

In accordance with applicable law, following up to an initial two-year period, the Board considers the renewal of each Investment Management Agreement and Sub-Advisory Agreement on behalf of the applicable Fund on an annual basis. The Investment Management Agreements and Sub-Advisory Agreements are collectively referred to as the "Advisory Agreements," and the Adviser and the Sub-Adviser are collectively, the "Fund Advisers" and each a "Fund Adviser."

To reach their determination, the Board Members considered the review of the Advisory Agreements to be an ongoing process. The Board Members employed the accumulated information, knowledge and experience they had gained during their tenure as disinterested Board Members on the respective boards of the funds in the Nuveen complex and their committees in overseeing the applicable funds and working with the respective investment advisers and sub-advisers in their review of the advisory agreements for the fund complex. The fund complex consists of the group of funds advised by NFAL, including the Funds, and the group of funds advised by Teachers Advisors, LLC ("TAL" and collectively, the "Nuveen funds" or the "funds"). The Board and its committees meet regularly throughout the year and at these meetings, the Board Members received materials and discussed information covering a wide range of topics pertinent to the annual consideration of the renewal of the Advisory Agreements. Such topics include, but are not limited to, the investment performance of the funds over various periods; investment oversight matters; economic, market and regulatory developments; any significant organizational or other developments impacting a Fund Adviser and its strategic plans for its business; product initiatives for various funds; fund expenses; compliance, regulatory and risk management matters; trading practices, including soft dollar arrangements and reimbursements to the funds; the liquidity and derivatives risk management programs; management of distributions; valuation of securities; payments to financial intermediaries, including 12b-1 expenses (as applicable); and securities lending (as applicable). The Board also seeks to meet at its regular quarterly meetings with members of senior management to discuss various topics, including market conditions, industry developments and any significant developments or strategic plans for a Fund Adviser, if any.

To help with the review of performance, the Board and/or its committees periodically received and discussed presentations from member(s) of investment teams throughout the year, culminating in an annual performance review of the Nuveen funds at the Board's meeting held on February 25-26, 2025 (the "February Meeting"). The presentations, discussions and meetings during the year provide a means for the Board Members to evaluate and consider the level, breadth and quality of services provided by the Fund Advisers and any changes to such services over time in light of new or modified regulatory requirements, changes to market conditions or other factors.

In addition to the materials and discussions that occurred at prior meetings, the Board, through its independent legal counsel, requested and received extensive materials and information prepared specifically for its review of the Advisory Agreements. During the year, management worked with an ad hoc committee established by the Board to help enhance and streamline the materials provided in connection with the annual review of the Advisory Agreements. The materials provided at the Meeting and/or prior meetings covered a wide range of matters including, but not limited to, a description of the nature, extent and quality of services provided by the Fund Advisers; a review of the Sub-Adviser and/or applicable investment team; an analysis of fund performance with a focus on funds considered to have met certain challenged performance measurements; an analysis of the fees and expense ratios of the funds with a focus on funds considered to have certain expense characteristics; a list of management fee and sub-advisory fee schedules; an analysis of advisory fees compared to fees assessed to other types of clients; a review of temporary and/ or permanent expense caps and fee waivers (as applicable); a description of portfolio manager compensation; certain profitability and/or financial data; and a description of indirect benefits received by the Fund Advisers as a result of their relationships with the funds. The Board also considered information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, comparing fee and expense levels of each respective Fund to those of a peer universe and to a group of peers selected by Broadridge.

The information prepared specifically for the annual review supplemented the information provided to the Board and its committees and the evaluations of the Nuveen funds by the Board and its committees during the year. The Board's review of the Advisory Agreements is based on all the information provided to the Board and its committees over time. The performance, fee and expense data and other information provided by a Fund Adviser, Broadridge or other service providers were not independently verified by the Board Members.

#### 1

------

Item 11. Statement Regarding Basis for Approval of Investment Advisory

Contract. (continued)

As part of their review, the Board Members and independent legal counsel met in executive session on April 9, 2025 to review and discuss materials provided in connection with their annual review of the Advisory Agreements. After reviewing this information, the Board Members requested, directly or through independent legal counsel, additional information, and the Board subsequently reviewed and discussed the responses to these follow-up questions and requests. The Board Members and independent legal counsel met again in executive session on April 17, 2025 (together with the April 9, 2025 executive session, the "Executive Sessions") to discuss the responses to the initial supplemental information request and, following their review of the data provided, requested management present certain additional information at the Meeting. In addition to the Executive Sessions, the Board Members met in additional executive sessions prior to and during the Meeting. During the Meeting, the Board Members considered the responses, invited representatives of management to provide additional information and determined that the information provided (whether oral or written) was responsive to their requests.

The Board Members were advised by independent legal counsel during the annual review process as well as throughout the year, including meeting in executive sessions with such counsel at which no representatives of management were present. In connection with their annual review, the Board Members also received a memorandum from independent legal counsel outlining their fiduciary duties and legal standards in reviewing the Advisory Agreements, including guidance from court cases evaluating advisory fees.

After the discussions and with the background and knowledge described above, the Board Members approved the continuation of the Advisory Agreements on behalf of the applicable Funds for an additional one-year period. The Board did not identify any single factor as all-important or controlling, but rather each decision reflected the comprehensive consideration of all the information (written or oral) provided to the Board and its committees throughout the year as well as the materials prepared specifically in connection with the annual review process. The contractual arrangements may reflect the results of prior year(s) of review, negotiation and information provided in connection with the Board's annual review of the Funds' advisory arrangements and oversight of the Funds. Each Board Member may have attributed different levels of importance to the various factors and information considered in connection with the annual review process and may have placed different emphasis on the relevant information year to year in light of, among other things, changing market and economic conditions. A summary of the principal factors and information, but not all the factors, the Board considered in deciding to renew the Advisory Agreements is set forth below.

A. Nature, Extent and Quality of Services

In evaluating the renewal of the Advisory Agreements, the Board Members received and considered information regarding the nature, extent and quality of the applicable Fund Adviser's services provided to each respective Fund. With this approach, they considered the roles of the Adviser and the Sub-Adviser in providing services to the Funds.

The Board considered that the Adviser provides a wide array of management, oversight and other services to manage and operate the Funds. The Board considered the Adviser's and its affiliates' dedication of resources, time, people and capital as well as consistent program of improvement and innovation aimed at keeping the Nuveen fund complex relevant and attractive for existing and new investors and meeting the needs of an increasingly complex regulatory environment. Among the information provided in connection with the review of services at the Meeting and/or prior meetings, the Board considered a description of the organizational changes at the Adviser during the year, the management teams that comprise the various support and investment functions for the funds and the background of certain personnel who support the funds. The Board considered the significant resources, both financial and personnel, the Adviser and its affiliates had committed over the past several years in working to bring the asset management businesses of Nuveen and TIAA under one centralized umbrella and to consolidate their respective fund families to the benefit of the funds through, among other things, enhanced operating efficiencies, centralized investment leadership and a centralized shared resources and support model. To help ensure the continuation of services, the Board considered, among other things, management's emphasis on succession planning and key person risk evaluation pursuant to which certain management team(s) meet annually to conduct a comprehensive review of successors to key positions, to develop and monitor corporate-wide standards and procedures in seeking to help ensure the firm may continue to operate in the event of business disruptions, and to review staffing and compensation levels to help remain competitive with peers in the industry. The Board considered a description of the application of business continuity plans and the periodic testing and review of such plans. As noted below, the Board also considered certain financial data of the Adviser and TIAA in assessing the financial stability and condition of the Adviser to provide a high level of quality services to the Funds.

In its review, the Board considered that the Funds operated in a highly regulated industry and the scope and complexity of the services and resources that the Adviser and its affiliates must provide to manage and operate the Funds have expanded over the years due to regulatory, market and other developments. Such services included maintaining and monitoring the Nuveen funds' compliance programs, risk management programs, liquidity risk management programs, derivatives risk management programs and cybersecurity programs. The Board and/or its Compliance, Risk Management and Regulatory Oversight Committee received reports regarding the funds' compliance policies and procedures and matters undertaken thereunder as well as other compliance initiatives on a regular basis.

In considering the breadth and quality of services the Adviser and its various teams provide, the Board considered that the Adviser provides investment advisory services. With respect to the Funds, such Funds utilize the Sub-Adviser to manage the portfolios of the Funds subject to the supervision of the Adviser. Accordingly, the Board considered that the Adviser and its affiliates, among other things, oversee and review the performance of the Sub-Adviser and its investment team(s); evaluate Fund performance and market conditions; evaluate investment strategies and recommend changes thereto; oversee trade execution and, as applicable, securities lending; evaluate investment risks; and manage valuation matters. As noted below, the Board also considered the Nuveen funds' performance over various time periods throughout the year.

In addition to the portfolio management services provided to the Funds (including indirectly by overseeing the Sub-Adviser), the Board considered the extensive compliance, regulatory, administrative and other services the Adviser and its various teams or affiliates provide to manage and operate the applicable funds, including but not limited to: distribution management services pursuant to which management seeks to implement distribution policies and set distribution levels consistent with each fund's product design and positioning; compliance services including establishing and maintaining broad-based compliance policies across the Nuveen fund complex, evaluating the compliance programs of various fund services providers, conducting ongoing risk assessments and testing, monitoring portfolio compliance with investment and regulatory requirements and

#### 2

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

providing a comprehensive compliance training program; providing regulatory advocacy services, including submitting comments on regulatory proposals and monitoring regulatory developments that may impact the fund(s); providing support to the Board and its committees throughout the year, including providing reports on a wide range of topics relating to the operations and management of the funds, helping to refine the materials provided to the Board and/or its committees and providing educational sessions on various topics; establishing and reviewing the services provided by other fund service providers (such as a fund's custodian, accountant, and transfer agent); providing legal support services; and evaluating trade allocation and execution.

Aside from the services provided, the Board considered the financial resources of the Adviser and/or its affiliates and their willingness to make investments to support the funds. The Board considered the funds' access to a seed capital budget provided by the Adviser and/or its affiliates to support new or existing funds and/or facilitate changes for a respective fund. The Board considered the benefits to shareholders of investing in a Fund that is a part of a large fund complex with a variety of investment disciplines, capabilities, and expertise. The Board considered the overall reputation and capabilities of the Adviser and its affiliates and the Adviser's continuing commitment to provide high quality services.

In its review, the Board also considered the significant risks borne by the Adviser and its affiliates in connection with their services to the Nuveen funds, including entrepreneurial risks in sponsoring and supporting new funds and smaller funds and ongoing risks with managing the Funds, such as investment, operational, reputational, regulatory, compliance and litigation risks.

The Board considered the division of responsibilities between the Adviser and the Sub-Adviser and considered that the Sub-Adviser and its investment personnel, as noted, generally are responsible for the management of the respective Fund's portfolio or a portion thereof under the oversight of the Adviser and the Board. The Board considered an analysis of the Sub-Adviser provided by the Adviser which included, among other things, a summary of changes (if any) in the leadership teams and/or portfolio manager teams; the performance of the funds sub-advised by the Sub-Adviser over various periods of time that met certain performance screening measurements; and data reflecting product changes (if any) taken with respect to certain funds. The Board considered that the Adviser recommended the renewal of the Sub-Advisory Agreements.

Based on its review, the Board determined, in the exercise of its reasonable business judgment, that it was satisfied with the nature, extent and quality of services provided to the respective Funds under each applicable Advisory Agreement.

B. The Investment Performance of the Funds and Fund Advisers

In evaluating the quality of the services provided by the Fund Advisers, the Board also considered a variety of investment performance data of the Funds. In leading up to the annual review, the Board and/or its Investment Committee considered, among other things, Fund performance over the quarter, one-, three- and five-year periods ending December 31, 2024 on an absolute basis and as compared to the performance of comparable peers (the "Performance Peer Group") and to a benchmark for the prescribed periods. For Funds with multiple share classes, the performance data was based on Class I shares; however, the performance of other share classes was expected to be substantially similar as they invest in the same portfolio of securities and differences in performance among the classes of a fund generally may be principally attributed to the variations in the expense structures of the share classes. Prior to the Meeting, the Board also received updated Fund performance over the quarter, one-, three- and five-year periods ended March 31, 2025 on an absolute basis and in comparison to the Performance Peer Group and a benchmark for the prescribed periods. In its review of relative performance, the Board considered a Fund's performance relative to its Performance Peer Group, among other things, by evaluating its quartile ranking with the 1st quartile representing the top performing funds within the Performance Peer Group and the 4th quartile representing the lowest performing funds.

The Board took into account the performance data, presentations and discussions (written and oral) that were provided at the Meeting and in prior meetings over time in evaluating fund performance, including particular focus on management's analysis of the performance of funds that met certain screening measurements as determined pursuant to a methodology approved by the Board or additional measurements as determined by management's investment analysts. As various Nuveen funds have modified their portfolio teams and/or made significant changes to their portfolio strategies over time, the Board reviewed, among other things, certain tracking performance data over specific periods comparing performance before and after such changes.

In evaluating performance, the Board considered some of the limitations of the performance data. The Board considered, among other things, that performance data reflects performance over a specified period which may differ significantly depending on the ending dates selected, particularly during periods of market volatility. Further, the Board considered that regardless of the performance period reviewed by the Board, shareholders may evaluate performance based on their own respective holding periods which may differ from the performance periods reviewed by the Board and lead to differing results. With respect to comparative performance, the Board considered that differing investment objectives, investment strategies, dates of inception, type and cost of leverage (if any), asset size and other factors between the Performance Peer Group and the respective Fund necessarily lead to differences in performance results. Similarly, differences in the investment objective(s) and strategies of a Fund and its benchmark (particularly an actively managed fund that does not directly follow an index) as well as the costs of operating a Fund would contribute to differences in performance results. To assist the Board in its review of the comparability of the relative performance, management generally has ranked the relevancy of the Performance Peer Groups to the applicable funds as low, medium or high.

The Board evaluated performance in light of various relevant factors which may include, among other things, general market conditions, issuer-specific information, asset class information, leverage and fund cash flows. The Board considered that long-term performance could be impacted by even one period of significant outperformance or underperformance and that a single investment theme could disproportionately affect performance. Further, the Board considered that market and economic conditions may significantly impact a Fund's performance, particularly over shorter periods, and such performance may be more reflective of such economic or market events and not necessarily reflective of management skill. Although the Board reviews short-, intermediate- and longer-term performance data, the Board considered that longer periods of performance may reflect full market cycles.

#### 3

------

Item 11. Statement Regarding Basis for Approval of Investment Advisory

Contract. (continued)

In their review from year to year, the Board Members consider and may place different emphasis on the relevant information in light of changing circumstances in market and economic conditions. In evaluating performance, the Board focused particular attention on funds with less favorable performance records. However, depending on the facts and circumstances, including any differences between the respective fund and its benchmark and/or Performance Peer Group, the Board may be satisfied with a fund's performance notwithstanding that its performance may be below that of its benchmark and/or peer group for certain periods. With respect to any funds for which the Board has identified performance issues, the Board seeks to monitor such funds more closely until performance improves, discuss with the Adviser the reasons for such results, consider whether any steps are necessary or appropriate to address such issues, discuss and evaluate the potential consequences of such steps and review the results of any steps undertaken.

The performance determinations with respect to each Fund are summarized below:

• For Nuveen All-American Municipal Bond Fund, the Board considered that although the Fund's performance was below the performance of its benchmark and the Fund ranked in the fourth quartile of its Performance Peer Group for the three- and five-year periods ended December 31, 2024, the Fund outperformed its benchmark and ranked in the second quartile of its Performance Peer Group for the one-year period ended December 31, 2024. On the basis of the Board's ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund's investment objective(s) and management's discussion of performance, the Board concluded that the Fund's performance supported renewal of the Advisory Agreements.

• For Nuveen Intermediate Duration Municipal Bond Fund, the Board considered that although the Fund's performance was below the performance of its benchmark for the three-year period ended December 31, 2024, the Fund outperformed its benchmark for the one-year period ended December 31, 2024 and matched the performance of its benchmark for the five-year period ended December 31, 2024. In addition, the Fund ranked in the third quartile of its Performance Peer Group for the one-, three- and five-year periods ended December 31, 2024. On the basis of the Board's ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund's investment objective(s) and management's discussion of performance, the Board concluded that the Fund's performance supported renewal of the Advisory Agreements.

• For Nuveen Limited Term Municipal Bond Fund, the Board considered that although the Fund's performance was below the performance of its benchmark for the one- and three-year periods ended December 31, 2024, the Fund outperformed its benchmark for the five-year period ended December 31, 2024. In addition, although the Fund ranked in the fourth quartile of its Performance Peer Group for the one-year period ended December 31, 2024, the Fund ranked in the third quartile for the three-year period and second quartile for the five-year period ended December 31, 2024. On the basis of the Board's ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund's investment objective(s) and management's discussion of performance, the Board concluded that the Fund's performance supported renewal of the Advisory Agreements.

• For Nuveen Short Term Municipal Bond Fund, the Board considered that although the Fund's performance was below the performance of its benchmark for the three- and five-year periods ended December 31, 2024, the Fund outperformed its benchmark for the one-year period ended December 31, 2024. In addition, although the Fund ranked in the fourth quartile of its Performance Peer Group for the five-year period ended December 31, 2024, the Fund ranked in the third quartile of its Performance Peer Group for the one- and three-year periods ended December 31, 2024. On the basis of the Board's ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund's investment objective(s) and management's discussion of performance, the Board concluded that the Fund's performance supported renewal of the Advisory Agreements.

C. Fees, Expenses and Profitability

**1.** **Fees and Expenses** 

As part of the annual review, the Board Members considered, among other things, the management fee schedules and the expense reimbursements and/or fee waivers agreed to by the Adviser for the respective Fund (if any). In addition to the management fee arrangements, the Board Members considered a Fund's operating expense ratio as it more directly reflected a shareholder's total costs in investing in the respective Fund.

In its review, the Board considered that the management fees of the Funds were generally comprised of two components, a fund-level component and a complex-level component, each with its own breakpoint schedule. The Board considered that in 2024, the Board approved a revised complex-wide breakpoint schedule which simplified and reduced the complex-level fee rates at various thresholds and expanded the eligible funds whose assets would be included in calculating the complex-level fee, effective May 1, 2024. The Board considered that the complex-level component is intended to be an efficient mechanism designed to help share cost efficiencies with shareholders as the complex-wide assets grow.

#### 4

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

The Board also considered comparative fee and expense information prepared by an independent third-party provider of fund data. More specifically, the Board Members generally reviewed, among other things, each Fund's management fee rates and net total expense ratio in relation to similar data for a comparable universe of peers (the "Expense Universe") and a more focused group of comparable peers (the "Expense Group") established by Broadridge. With respect to the Broadridge comparative expense data, Broadridge applied Class I shares of the Funds. In its review of such comparative fee and expense data, the Board considered, among other things, a Fund's quartile rankings of its contractual management fee rate, actual management fee rate and net total expense ratio within its Expense Universe and Expense Group (as applicable) with the first quartile representing the range of funds with the lowest management fee rate or net total expense ratio, respectively, and the fourth quartile representing the range of funds with the highest management fee rate or net total expense ratio, respectively. In their review, the Board Members considered, in particular, each fund with a net total expense ratio meeting certain expense screening criteria adopted by the Board when compared to its Expense Universe and Expense Group (if any) and management's commentary as to the factors contributing to each such fund's relative net total expense ratio. The Board also considered, in relevant part, a fund's management fee in light of its performance history with particular focus on any fund identified as having a higher management fee and/or expense ratio compared to peers coupled with experiencing a period of challenged performance.

In their review, the Board Members considered the methodology Broadridge employed to establish its Expense Universe and Expense Group (as applicable). The Board further considered that differences between the applicable Fund and its respective Expense Universe and/ or Expense Group, as well as changes to the composition of the Expense Universe and/or Expense Group from year to year, may limit some of the value of the comparative data. The Board Members also considered that it can be difficult to compare management fees among funds with peers as there are variations in the services that are included for the fees paid. The Board Members took these limitations and differences into account when reviewing comparative peer data.

With respect to the Sub-Adviser, the Board also considered, among other things, the sub-advisory fee schedule paid to the Sub-Adviser in light of the sub-advisory services provided to the respective Fund. In its review, the Board considered that the compensation paid to the Sub-Adviser is the responsibility of the Adviser, not the Funds.

The Board's considerations regarding the comparative fee data for each Fund are set forth below:

• For Nuveen All-American Municipal Bond Fund, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio each ranked in the second quartile of its Expense Group. In addition, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio ranked in the second quartile, third quartile and second quartile of its Expense Universe, respectively. Further, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio were each below the Expense Group median. The Fund's contractual management fee rate and net total expense ratio were also below the Expense Universe median, and the Fund's actual management fee rate was slightly above (within 5 basis points) the Expense Universe median.

• For Nuveen Intermediate Duration Municipal Bond Fund, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio ranked in the fourth quartile, fourth quartile and third quartile of its Expense Group, respectively. In addition, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio ranked in the second quartile, fourth quartile and third quartile of its Expense Universe, respectively. Further, although the Fund's contractual management fee rate was above the Expense Group median, the Fund's actual management fee rate and net total expense ratio were each slightly above (within 5 basis points) the Expense Group median. The Fund's contractual management fee rate was below the Expense Universe median, and the Fund's actual management fee rate and net total expense ratio were each slightly above (approximately 5 basis points or within 5 basis points) the Expense Universe median.

• For Nuveen Limited Term Municipal Bond Fund, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio ranked in the third quartile, third quartile and second quartile of its Expense Group, respectively. In addition, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio ranked in the third quartile, fourth quartile and third quartile of its Expense Universe, respectively. Further, the Fund's contractual management fee rate and actual management fee rate were each slightly above (within 5 basis points) the Expense Group median, and the Fund's net total expense ratio matched the Expense Group median. Although the Fund's actual management fee rate and net total expense ratio were each above the Expense Universe median, the Fund's contractual management fee rate was slightly above (within 5 basis points) the Expense Universe median.

• For Nuveen Short Term Municipal Bond Fund, although the Fund's actual management fee rate and net total expense ratio ranked in the fourth quartile of its Expense Group, the Fund's contractual management fee rate ranked in the second quartile of its Expense Group. In addition, although the Fund's actual management fee rate and net total expense ratio ranked in the fourth quartile of its Expense Universe, the Fund's contractual management fee rate ranked in the third quartile of its Expense Universe. Further, although the Fund's actual management fee rate and net total expense ratio were each above the Expense Group median, the Fund's contractual management fee rate matched the Expense Group median. Although the Fund's actual management fee rate and net total expense ratio were also above the Expense Universe median, the Fund's contractual management fee rate was slightly above (within 5 basis points) the Expense Universe median. The Board also considered, among other things, that the temporary expense cap which was implemented effective May 1, 2024 was not fully reflected in the Fund's expenses for its fiscal year which ends as of March 31st, and the Adviser agreed to extend such temporary expense cap for the Fund to July 31, 2027.

Based on its review of the information provided, the Board determined that each Fund's management fees (as applicable) to a Fund Adviser were reasonable in light of the nature, extent and quality of services provided to the Fund.

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Item 11. Statement Regarding Basis for Approval of Investment Advisory

Contract. (continued)

**2.** **Comparisons with the Fees of Other Clients** 

In evaluating the appropriateness of fees, the Board also considered that the Adviser, Sub-Adviser and/or their affiliate(s) provide investment management services to other types of clients which may include, among others: separately managed accounts ("SMAs"), retail managed accounts, foreign funds (UCITS), other investment companies (as sub-advisers), limited partnerships and collective investment trusts. The Board considered certain fee data for these other types of clients managed in a similar manner to certain of the funds compared to the management fee of the applicable fund. The Board considered a description of various factors which contribute to the differences in the management fee rates of the funds compared to those charged to these other types of clients which limited the comparability of the data. In this regard, the Board considered that the differences in, among other things, the breadth of services provided by the Adviser and its affiliates to the funds compared to those provided to other clients; the expenses the Adviser and its affiliates incur in launching, operating and supporting a fund; the support services provided to shareholders; the extensive regulatory, disclosure and governance requirements applicable to funds; the establishment and maintenance of servicing relationships with various service providers for the funds; the manner of managing such assets; investment policies; investor profiles; and account sizes all may contribute to the variations in relative fee rates. Differences in the level of advisory services required for passively managed funds also contribute to differences in the management fee levels of such funds compared to actively managed funds. In addition, differences in the client base; governing bodies, regulatory and legal requirements; distribution; jurisdiction and operational complexities also would contribute to variations in management fees assessed the funds compared to foreign fund clients. Further, differences in the level of advisory and non-advisory services required and risk incurred when serving as a sub-adviser to other investment companies compared to serving as the Adviser to a Nuveen fund contribute to differences in the fees assessed. In this regard, the Board further considered the significant entrepreneurial, legal and regulatory risks that the Adviser incurs in sponsoring and managing the Funds. As a general matter, higher fee levels reflect higher levels of service provided by the Adviser, increased investment management complexity, greater product management requirements, and higher levels of business risk or some combination of these factors. The Board further considered that the Sub-Adviser's fee is essentially for portfolio management services and therefore more comparable to the fees received for retail wrap accounts and other external sub-advisory mandates. The Board concluded that the varying levels of fees were reasonable given the foregoing.

**3.** **Profitability of the Fund Advisers** 

In considering the costs of services to be provided and profits to be realized by the Adviser (which encompassed its affiliated sub-advisers) from its relationship with the Funds, the Board Members considered a variety of estimated profitability data from various perspectives including, among other things, (a) historical pre-distribution and post-distribution margins over specified periods for the Adviser's services to the applicable funds; (b) certain profitability data on behalf of the Adviser attributable to servicing all applicable funds for 2024 and 2023; (c) certain profitability data of both the Adviser and TAL (as an adviser for other Nuveen funds) on a combined basis derived from types of funds in the aggregate (i.e., from closed-end funds, exchange-traded funds, interval funds and open-end funds) for 2024 and 2023; and (d) certain profitability data of both the Adviser and TAL (as an adviser for other Nuveen funds) on a combined basis by asset grouping of Nuveen funds in the aggregate (i.e., from equity, fund of funds, index, municipal bond and taxable fixed income funds). In addition, the Board considered profitability data at the per fund level for the respective adviser.

In reviewing the profitability data, the Board Members considered the subjective nature of calculating profitability as the information is not audited and is necessarily dependent on cost allocation methodologies to allocate expenses throughout the complex and among the various advisory products. The Board reviewed, among other things, a description of the cost allocation methodology employed to develop the profitability data. However, the Board Members considered that given there is no single universally recognized expense allocation methodology, other reasonable and valid allocation methodologies could be employed and could lead to significantly different profit and loss results and therefore developing profitability data is difficult, particularly on a per fund level.

Further, in considering the comparative margin data with peers, the Board Members considered the limitations of the comparative data given that peer data is not generally public and the calculation of profitability is subjective and affected by numerous factors (such as types of funds a peer manages, its business mix, its cost of capital, the numerous assumptions underlying the methodology used to allocate expenses and other factors) that can have a significant impact on the results. Given that the peer profitability data may reflect the different business mix of the respective peer firm, the Board also considered the pre- and post-distribution margins of Nuveen, LLC for each of the calendar years from 2020 through 2024.

Aside from the foregoing profitability data, the Board also considered, among other things, the audited statutory-basis financial statements of TIAA as of December 31, 2024 and 2023 and the related statutory-basis statements of operations, of changes in capital and contingency reserves and of cash flows for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. The Board considered the benefit of an investment adviser and its parent with significant resources, particularly during periods of market volatility. The Board also considered the investments the Adviser, its parent and/or other affiliates made into their business.

In evaluating the reasonableness of the compensation, the Board Members also considered the indirect benefits the Adviser or Sub-Adviser received that were directly attributable to the management of the applicable funds as discussed in further detail below. Based on its review, the Board was satisfied that the Adviser's (together with its affiliated sub-advisers) level of profitability from its relationship with the applicable Fund was not unreasonable in light of the nature, extent and quality of services provided.

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D. Economies of Scale and Whether Fee Levels Reflect These Economies of Scale

The Board considered whether there have been economies of scale with respect to the management of the funds, whether these economies of scale have been appropriately shared with the funds and whether there is potential for realization of further economies of scale. Although the Board considered that economies of scale are difficult to measure with any precision and the rates at which certain expenses are incurred may not decline with a rise in assets, the Board considered that there are a variety of methods that may be employed to help share the benefits of economies of scale, including, among other things, through the use of breakpoints in the management fee schedule, fee waivers and/or expense limitations, the pricing of funds at scale at inception and investments in the Adviser's business which can enhance the services provided to the funds for the fees paid. The Board considered such factors that were applicable to the particular Fund's advisory fee structure.

As noted above, the Board considered that the management fee of the Adviser for the Funds generally was comprised of a fund-level component and a complex-level component each with its own breakpoint schedule. The Board also approved a revised complex-wide breakpoint schedule in 2024 which reduced the complex-level fee rates at various thresholds and expanded the assets included when calculating the complex-level fee. With this structure, the Board considered that the complex-level breakpoint schedule was designed to deliver the benefits of economies of scale to shareholders when the assets of the eligible participating funds in the complex pass certain thresholds even if the assets of a particular fund are unchanged or have declined, and the fund-level breakpoint schedules were designed to share economies of scale with shareholders if the particular fund grows. The Board reviewed the fund-level and complex-level fee schedules.

In addition to the fund-level and complex-level fee schedules, the Board Members considered the temporary and/or permanent expense caps applicable to a Fund (if any). The Board considered that such waivers and reimbursements are another means for potential economies of scale to be shared with shareholders of such funds and can provide a protection from an increase in expenses if the assets of the applicable funds decline.

The Board Members also considered the continued reinvestment in Nuveen's business to enhance its capabilities and services to the benefit of its various clients. The Board considered that many of these investments were not specific to individual Nuveen funds, but rather initiatives from which the family of funds as a whole may benefit. The Board further considered that the scope of the services of the Adviser and its affiliates have expanded over time without raising advisory fees to the funds, and this was also a means of sharing economies of scale with the funds and their shareholders. The Board considered the Adviser's and/or its affiliates' ongoing efforts to streamline the product line-up, among other things, to create more scaled funds which may help improve both expense and trading economies for participating funds.

Based on its review, the Board was satisfied that the current fee arrangements together with the reinvestment in management's business appropriately shared any economies of scale with shareholders.

E. Indirect Benefits

The Board Members received and considered information regarding various indirect benefits the respective Fund Adviser or its affiliates may receive as a result of their relationship with the funds. These benefits included, among other things, economies of scale to the extent the Adviser or its affiliates share investment resources and/or personnel with other clients of the Adviser. Certain funds may also be used as investment options for other products or businesses offered by the Adviser and/or its affiliates, such as variable products, fund of funds and 529 education savings plans, and affiliates of the Adviser may serve as sub-adviser to various funds in which case all advisory and sub-advisory fees generated by such funds stay within Nuveen.

Further, the funds may pay the Adviser and/or its affiliates for other services, such as distribution. In this regard, the Board Members considered that an affiliate of the Adviser serves as principal underwriter providing distribution and/or shareholder services to the open-end funds for which it may be compensated. To the extent an open-end fund pays 12b-1 fees, the Board Members considered that some of those fees may be retained by the Adviser's affiliate. In addition, the Board considered that an affiliate of the Adviser received compensation in 2024 for serving as an underwriter on shelf offerings of existing closed-end funds and reviewed the amounts paid for such services in 2024 and 2023.

In addition, the Board Members considered that the Adviser and Sub-Adviser may utilize soft dollar brokerage arrangements attributable to the respective fund(s) to obtain research and other services for any or all of their clients, although the Board Members also considered reimbursements of such costs by the Adviser and/or Sub-Adviser.

The Adviser and its affiliates may also benefit from the advisory relationships with the funds in the fund complex to the extent this relationship results in potential investors viewing the TIAA group of companies as a leading retirement plan provider in the academic and nonprofit market and a single source for all their financial service needs. The Adviser and/or its affiliates may further benefit to the extent that they have pricing or other information regarding vendors the funds utilize in establishing arrangements with such vendors for other products.

Based on its review, the Board concluded that any indirect benefits received by a Fund Adviser as a result of its relationship with the Funds were reasonable in light of the services provided.

F. Other Considerations

The Board Members did not identify any single factor discussed previously as all-important or controlling. The Board Members concluded that the terms of each Advisory Agreement were reasonable, that the respective Fund Adviser's fees were reasonable in light of the services provided to each Fund and that the Advisory Agreements be renewed for an additional one-year period.

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## Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.

#### Nuveen High Yield Municipal Bond Fund

#### Nuveen Short Duration High Yield Municipal Bond Fund

#### Nuveen Strategic Municipal Opportunities Fund

#### The Approval Process
At meetings held on April 28 and 29, 2025 (the "Meeting"), the Board of Trustees (the "Board" and each Trustee, a "Board Member") of Nuveen Municipal Trust approved, for each applicable series thereof, the renewal of the investment management agreement (each an "Investment Management Agreement") with Nuveen Fund Advisors, LLC ("NFAL" or the "Adviser"). Similarly, for each respective series, the Board approved the renewal of the sub-advisory agreement (each a "Sub-Advisory Agreement") with Nuveen Asset Management, LLC (the "Sub-Adviser"). NFAL is a subsidiary of Nuveen, LLC, the investment management arm of Teachers Insurance and Annuity Association of America ("TIAA"). The Sub-Adviser is also an affiliate of the Adviser. The Board Members are not "interested persons" (as defined under the Investment Company Act of 1940 (the "1940 Act")) and, therefore, the Board is deemed to be comprised of all disinterested Board Members. References to the Board and the Board Members are interchangeable. Below is a summary of the annual review process the Board undertook related to its most recent renewal of the Investment Management Agreement and Sub-Advisory Agreement with respect to each series covered by this report (the "Funds").

In accordance with applicable law, following up to an initial two-year period, the Board considers the renewal of each Investment Management Agreement and Sub-Advisory Agreement on behalf of the applicable Fund on an annual basis. The Investment Management Agreements and Sub-Advisory Agreements are collectively referred to as the "Advisory Agreements," and the Adviser and the Sub-Adviser are collectively, the "Fund Advisers" and each a "Fund Adviser."

To reach their determination, the Board Members considered the review of the Advisory Agreements to be an ongoing process. The Board Members employed the accumulated information, knowledge and experience they had gained during their tenure as disinterested Board Members on the respective boards of the funds in the Nuveen complex and their committees in overseeing the applicable funds and working with the respective investment advisers and sub-advisers in their review of the advisory agreements for the fund complex. The fund complex consists of the group of funds advised by NFAL, including the Funds, and the group of funds advised by Teachers Advisors, LLC ("TAL" and collectively, the "Nuveen funds" or the "funds"). The Board and its committees meet regularly throughout the year and at these meetings, the Board Members received materials and discussed information covering a wide range of topics pertinent to the annual consideration of the renewal of the Advisory Agreements. Such topics include, but are not limited to, the investment performance of the funds over various periods; investment oversight matters; economic, market and regulatory developments; any significant organizational or other developments impacting a Fund Adviser and its strategic plans for its business; product initiatives for various funds; fund expenses; compliance, regulatory and risk management matters; trading practices, including soft dollar arrangements and reimbursements to the funds; the liquidity and derivatives risk management programs; management of distributions; valuation of securities; payments to financial intermediaries, including 12b-1 expenses (as applicable); and securities lending (as applicable). The Board also seeks to meet at its regular quarterly meetings with members of senior management to discuss various topics, including market conditions, industry developments and any significant developments or strategic plans for a Fund Adviser, if any.

To help with the review of performance, the Board and/or its committees periodically received and discussed presentations from member(s) of investment teams throughout the year, culminating in an annual performance review of the Nuveen funds at the Board's meeting held on February 25-26, 2025 (the "February Meeting"). The presentations, discussions and meetings during the year provide a means for the Board Members to evaluate and consider the level, breadth and quality of services provided by the Fund Advisers and any changes to such services over time in light of new or modified regulatory requirements, changes to market conditions or other factors.

In addition to the materials and discussions that occurred at prior meetings, the Board, through its independent legal counsel, requested and received extensive materials and information prepared specifically for its review of the Advisory Agreements. During the year, management worked with an ad hoc committee established by the Board to help enhance and streamline the materials provided in connection with the annual review of the Advisory Agreements. The materials provided at the Meeting and/or prior meetings covered a wide range of matters including, but not limited to, a description of the nature, extent and quality of services provided by the Fund Advisers; a review of the Sub-Adviser and/or applicable investment team; an analysis of fund performance with a focus on funds considered to have met certain challenged performance measurements; an analysis of the fees and expense ratios of the funds with a focus on funds considered to have certain expense characteristics; a list of management fee and sub-advisory fee schedules; an analysis of advisory fees compared to fees assessed to other types of clients; a review of temporary and/ or permanent expense caps and fee waivers (as applicable); a description of portfolio manager compensation; certain profitability and/or financial data; and a description of indirect benefits received by the Fund Advisers as a result of their relationships with the funds. The Board also considered information provided by Broadridge Financial Solutions, Inc. ("Broadridge"), an independent provider of investment company data, comparing fee and expense levels of each respective Fund to those of a peer universe and to a group of peers selected by Broadridge.

The information prepared specifically for the annual review supplemented the information provided to the Board and its committees and the evaluations of the Nuveen funds by the Board and its committees during the year. The Board's review of the Advisory Agreements is based on all the information provided to the Board and its committees over time. The performance, fee and expense data and other information provided by a Fund Adviser, Broadridge or other service providers were not independently verified by the Board Members.

As part of their review, the Board Members and independent legal counsel met in executive session on April 9, 2025 to review and discuss materials provided in connection with their annual review of the Advisory Agreements. After reviewing this information, the Board Members requested, directly or through independent legal counsel, additional information, and the Board subsequently reviewed and discussed the responses to these follow-up questions and requests. The Board Members and independent legal counsel met again in executive session on April 17, 2025 (together with the April 9, 2025 executive session, the "Executive Sessions") to discuss the responses to the initial supplemental information request and,

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Item 11. Statement Regarding Basis for Approval of Investment Advisory

Contract. (continued)

following their review of the data provided, requested management present certain additional information at the Meeting. In addition to the Executive Sessions, the Board Members met in additional executive sessions prior to and during the Meeting. During the Meeting, the Board Members considered the responses, invited representatives of management to provide additional information and determined that the information provided (whether oral or written) was responsive to their requests.

The Board Members were advised by independent legal counsel during the annual review process as well as throughout the year, including meeting in executive sessions with such counsel at which no representatives of management were present. In connection with their annual review, the Board Members also received a memorandum from independent legal counsel outlining their fiduciary duties and legal standards in reviewing the Advisory Agreements, including guidance from court cases evaluating advisory fees.

After the discussions and with the background and knowledge described above, the Board Members approved the continuation of the Advisory Agreements on behalf of the applicable Funds for an additional one-year period. The Board did not identify any single factor as all-important or controlling, but rather each decision reflected the comprehensive consideration of all the information (written or oral) provided to the Board and its committees throughout the year as well as the materials prepared specifically in connection with the annual review process. The contractual arrangements may reflect the results of prior year(s) of review, negotiation and information provided in connection with the Board's annual review of the Funds' advisory arrangements and oversight of the Funds. Each Board Member may have attributed different levels of importance to the various factors and information considered in connection with the annual review process and may have placed different emphasis on the relevant information year to year in light of, among other things, changing market and economic conditions. A summary of the principal factors and information, but not all the factors, the Board considered in deciding to renew the Advisory Agreements is set forth below.

A. Nature, Extent and Quality of Services

In evaluating the renewal of the Advisory Agreements, the Board Members received and considered information regarding the nature, extent and quality of the applicable Fund Adviser's services provided to each respective Fund. With this approach, they considered the roles of the Adviser and the Sub-Adviser in providing services to the Funds.

The Board considered that the Adviser provides a wide array of management, oversight and other services to manage and operate the Funds. The Board considered the Adviser's and its affiliates' dedication of resources, time, people and capital as well as consistent program of improvement and innovation aimed at keeping the Nuveen fund complex relevant and attractive for existing and new investors and meeting the needs of an increasingly complex regulatory environment. Among the information provided in connection with the review of services at the Meeting and/or prior meetings, the Board considered a description of the organizational changes at the Adviser during the year, the management teams that comprise the various support and investment functions for the funds and the background of certain personnel who support the funds. The Board considered the significant resources, both financial and personnel, the Adviser and its affiliates had committed over the past several years in working to bring the asset management businesses of Nuveen and TIAA under one centralized umbrella and to consolidate their respective fund families to the benefit of the funds through, among other things, enhanced operating efficiencies, centralized investment leadership and a centralized shared resources and support model. To help ensure the continuation of services, the Board considered, among other things, management's emphasis on succession planning and key person risk evaluation pursuant to which certain management team(s) meet annually to conduct a comprehensive review of successors to key positions, to develop and monitor corporate-wide standards and procedures in seeking to help ensure the firm may continue to operate in the event of business disruptions, and to review staffing and compensation levels to help remain competitive with peers in the industry. The Board considered a description of the application of business continuity plans and the periodic testing and review of such plans. As noted below, the Board also considered certain financial data of the Adviser and TIAA in assessing the financial stability and condition of the Adviser to provide a high level of quality services to the Funds.

In its review, the Board considered that the Funds operated in a highly regulated industry and the scope and complexity of the services and resources that the Adviser and its affiliates must provide to manage and operate the Funds have expanded over the years due to regulatory, market and other developments. Such services included maintaining and monitoring the Nuveen funds' compliance programs, risk management programs, liquidity risk management programs, derivatives risk management programs and cybersecurity programs. The Board and/or its Compliance, Risk Management and Regulatory Oversight Committee received reports regarding the funds' compliance policies and procedures and matters undertaken thereunder as well as other compliance initiatives on a regular basis.

In considering the breadth and quality of services the Adviser and its various teams provide, the Board considered that the Adviser provides investment advisory services. With respect to the Funds, such Funds utilize the Sub-Adviser to manage the portfolios of the Funds subject to the supervision of the Adviser. Accordingly, the Board considered that the Adviser and its affiliates, among other things, oversee and review the performance of the Sub-Adviser and its investment team(s); evaluate Fund performance and market conditions; evaluate investment strategies and recommend changes thereto; oversee trade execution and, as applicable, securities lending; evaluate investment risks; and manage valuation matters. As noted below, the Board also considered the Nuveen funds' performance over various time periods throughout the year.

In addition to the portfolio management services provided to the Funds (including indirectly by overseeing the Sub-Adviser), the Board considered the extensive compliance, regulatory, administrative and other services the Adviser and its various teams or affiliates provide to manage and operate the applicable funds, including but not limited to: distribution management services pursuant to which management seeks to implement distribution policies and set distribution levels consistent with each fund's product design and positioning; compliance services including establishing and maintaining broad-based compliance policies across the Nuveen fund complex, evaluating the compliance programs of various fund services providers, conducting ongoing risk assessments and testing, monitoring portfolio compliance with investment and regulatory requirements and providing a comprehensive compliance training program; providing regulatory advocacy services, including submitting comments on regulatory proposals and monitoring regulatory developments that may impact the fund(s); providing support to the Board and its committees throughout the year, including providing reports on a wide range of topics relating to the operations and management of the funds, helping to refine the materials

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provided to the Board and/or its committees and providing educational sessions on various topics; establishing and reviewing the services provided by other fund service providers (such as a fund's custodian, accountant, and transfer agent); providing legal support services; and evaluating trade allocation and execution.

Aside from the services provided, the Board considered the financial resources of the Adviser and/or its affiliates and their willingness to make investments to support the funds. The Board considered the funds' access to a seed capital budget provided by the Adviser and/or its affiliates to support new or existing funds and/or facilitate changes for a respective fund. The Board considered the benefits to shareholders of investing in a Fund that is a part of a large fund complex with a variety of investment disciplines, capabilities, and expertise. The Board considered the overall reputation and capabilities of the Adviser and its affiliates and the Adviser's continuing commitment to provide high quality services.

In its review, the Board also considered the significant risks borne by the Adviser and its affiliates in connection with their services to the Nuveen funds, including entrepreneurial risks in sponsoring and supporting new funds and smaller funds and ongoing risks with managing the Funds, such as investment, operational, reputational, regulatory, compliance and litigation risks.

The Board considered the division of responsibilities between the Adviser and the Sub-Adviser and considered that the Sub-Adviser and its investment personnel, as noted, generally are responsible for the management of the respective Fund's portfolio or a portion thereof under the oversight of the Adviser and the Board. The Board considered an analysis of the Sub-Adviser provided by the Adviser which included, among other things, a summary of changes (if any) in the leadership teams and/or portfolio manager teams; the performance of the funds sub-advised by the Sub-Adviser over various periods of time that met certain performance screening measurements; and data reflecting product changes (if any) taken with respect to certain funds. The Board considered that the Adviser recommended the renewal of the Sub-Advisory Agreements.

Based on its review, the Board determined, in the exercise of its reasonable business judgment, that it was satisfied with the nature, extent and quality of services provided to the respective Funds under each applicable Advisory Agreement.

B. The Investment Performance of the Funds and Fund Advisers

In evaluating the quality of the services provided by the Fund Advisers, the Board also considered a variety of investment performance data of the Funds. In leading up to the annual review, the Board and/or its Investment Committee considered, among other things, Fund performance over the quarter, one-, three- and five-year periods ending December 31, 2024 on an absolute basis and as compared to the performance of comparable peers (the "Performance Peer Group") and to a benchmark for the prescribed periods. For Funds with multiple share classes, the performance data was based on Class I shares; however, the performance of other share classes was expected to be substantially similar as they invest in the same portfolio of securities and differences in performance among the classes of a fund generally may be principally attributed to the variations in the expense structures of the share classes. Prior to the Meeting, the Board also received updated Fund performance over the quarter, one-, three- and five-year periods ended March 31, 2025 on an absolute basis and in comparison to the Performance Peer Group and a benchmark for the prescribed periods. In its review of relative performance, the Board considered a Fund's performance relative to its Performance Peer Group, among other things, by evaluating its quartile ranking with the 1st quartile representing the top performing funds within the Performance Peer Group and the 4th quartile representing the lowest performing funds.

The Board took into account the performance data, presentations and discussions (written and oral) that were provided at the Meeting and in prior meetings over time in evaluating fund performance, including particular focus on management's analysis of the performance of funds that met certain screening measurements as determined pursuant to a methodology approved by the Board or additional measurements as determined by management's investment analysts. As various Nuveen funds have modified their portfolio teams and/or made significant changes to their portfolio strategies over time, the Board reviewed, among other things, certain tracking performance data over specific periods comparing performance before and after such changes.

In evaluating performance, the Board considered some of the limitations of the performance data. The Board considered, among other things, that performance data reflects performance over a specified period which may differ significantly depending on the ending dates selected, particularly during periods of market volatility. Further, the Board considered that regardless of the performance period reviewed by the Board, shareholders may evaluate performance based on their own respective holding periods which may differ from the performance periods reviewed by the Board and lead to differing results. With respect to comparative performance, the Board considered that differing investment objectives, investment strategies, dates of inception, type and cost of leverage (if any), asset size and other factors between the Performance Peer Group and the respective Fund necessarily lead to differences in performance results. Similarly, differences in the investment objective(s) and strategies of a Fund and its benchmark (particularly an actively managed fund that does not directly follow an index) as well as the costs of operating a Fund would contribute to differences in performance results. To assist the Board in its review of the comparability of the relative performance, management generally has ranked the relevancy of the Performance Peer Groups to the applicable funds as low, medium or high.

The Board evaluated performance in light of various relevant factors which may include, among other things, general market conditions, issuer-specific information, asset class information, leverage and fund cash flows. The Board considered that long-term performance could be impacted by even one period of significant outperformance or underperformance and that a single investment theme could disproportionately affect performance. Further, the Board considered that market and economic conditions may significantly impact a Fund's performance, particularly over shorter periods, and such performance may be more reflective of such economic or market events and not necessarily reflective of management skill. Although the Board reviews short-, intermediate- and longer-term performance data, the Board considered that longer periods of performance may reflect full market cycles.

In their review from year to year, the Board Members consider and may place different emphasis on the relevant information in light of changing circumstances in market and economic conditions. In evaluating performance, the Board focused particular attention on funds with less favorable performance records. However, depending on the facts and circumstances, including any differences between the respective fund and its benchmark and/or Performance Peer Group, the Board may be satisfied with a fund's performance notwithstanding that its performance may be

#### 3

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Item 11. Statement Regarding Basis for Approval of Investment Advisory

Contract. (continued)

below that of its benchmark and/or peer group for certain periods. With respect to any funds for which the Board has identified performance issues, the Board seeks to monitor such funds more closely until performance improves, discuss with the Adviser the reasons for such results, consider whether any steps are necessary or appropriate to address such issues, discuss and evaluate the potential consequences of such steps and review the results of any steps undertaken.

The performance determinations with respect to each Fund are summarized below:

• For Nuveen High Yield Municipal Bond Fund, the Board considered that although the Fund's performance was below the performance of its benchmark for the one-, three- and five-year periods ended December 31, 2024 and the Fund ranked in the fourth quartile of its Performance Peer Group for the three-year period ended December 31, 2024, the Fund ranked in the third quartile of its Performance Peer Group for the one- and five-year periods ended December 31, 2024. On the basis of the Board's ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund's investment objective(s) and management's discussion of performance, the Board concluded that the Fund's performance supported renewal of the Advisory Agreements.

• For Nuveen Short Duration High Yield Municipal Bond Fund, the Board considered that although the Fund's performance was below the performance of its benchmark for the three- and five-year periods ended December 31, 2024, the Fund outperformed its benchmark for the one-year period ended December 31, 2024 and ranked in the first quartile of its Performance Peer Group for the one-, three- and five-year periods ended December 31, 2024. In its review, the Board considered that the Performance Peer Group was classified as low for relevancy. On the basis of the Board's ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund's investment objective(s) and management's discussion of performance, the Board concluded that the Fund's performance supported renewal of the Advisory Agreements.

• For Nuveen Strategic Municipal Opportunities Fund, the Board considered that although the Fund's performance was below the performance of its benchmark for the three-year period ended December 31, 2024, the Fund outperformed its benchmark for the one- and five-year periods ended December 31, 2024. In addition, although the Fund ranked in the fourth quartile of its Performance Peer Group for the three-year period ended December 31, 2024, the Fund ranked in the first quartile of its Performance Peer Group for the one- and five-year periods ended December 31, 2024. In its review, the Board considered that the Performance Peer Group was classified as low for relevancy. On the basis of the Board's ongoing review of investment performance and all relevant factors, including the relative market conditions during certain reporting periods, the Fund's investment objective(s) and management's discussion of performance, the Board concluded that the Fund's performance supported renewal of the Advisory Agreements.

C. Fees, Expenses and Profitability

**1.** **Fees and Expenses** 

As part of the annual review, the Board Members considered, among other things, the management fee schedules and the expense reimbursements and/or fee waivers agreed to by the Adviser for the respective Fund (if any). In addition to the management fee arrangements, the Board Members considered a Fund's operating expense ratio as it more directly reflected a shareholder's total costs in investing in the respective Fund.

In its review, the Board considered that the management fees of the Funds were generally comprised of two components, a fund-level component and a complex-level component, each with its own breakpoint schedule. The Board considered that in 2024, the Board approved a revised complex-wide breakpoint schedule which simplified and reduced the complex-level fee rates at various thresholds and expanded the eligible funds whose assets would be included in calculating the complex-level fee, effective May 1, 2024. The Board considered that the complex-level component is intended to be an efficient mechanism designed to help share cost efficiencies with shareholders as the complex-wide assets grow.

The Board also considered comparative fee and expense information prepared by an independent third-party provider of fund data. More specifically, the Board Members generally reviewed, among other things, each Fund's management fee rates and net total expense ratio in relation to similar data for a comparable universe of peers (the "Expense Universe") and a more focused group of comparable peers (the "Expense Group") established by Broadridge. With respect to the Broadridge comparative expense data, Broadridge applied Class I shares of the Funds. In its review of such comparative fee and expense data, the Board considered, among other things, a Fund's quartile rankings of its contractual management fee rate, actual management fee rate and net total expense ratio within its Expense Universe and Expense Group (as applicable) with the first quartile representing the range of funds with the lowest management fee rate or net total expense ratio, respectively, and the fourth quartile representing the range of funds with the highest management fee rate or net total expense ratio, respectively. In their review, the Board Members considered, in particular, each fund with a net total expense ratio meeting certain expense screening criteria adopted by the Board when compared to its Expense Universe and Expense Group (if any) and management's commentary as to the factors contributing to each such fund's relative net total expense ratio. The Board also considered, in relevant part, a fund's management fee in light of its performance history with particular focus on any fund identified as having a higher management fee and/or expense ratio compared to peers coupled with experiencing a period of challenged performance.

#### 4

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

In their review, the Board Members considered the methodology Broadridge employed to establish its Expense Universe and Expense Group (as applicable). The Board further considered that differences between the applicable Fund and its respective Expense Universe and/ or Expense Group, as well as changes to the composition of the Expense Universe and/or Expense Group from year to year, may limit some of the value of the comparative data. The Board Members also considered that it can be difficult to compare management fees among funds with peers as there are variations in the services that are included for the fees paid. The Board Members took these limitations and differences into account when reviewing comparative peer data.

With respect to the Sub-Adviser, the Board also considered, among other things, the sub-advisory fee schedule paid to the Sub-Adviser in light of the sub-advisory services provided to the respective Fund. In its review, the Board considered that the compensation paid to the Sub-Adviser is the responsibility of the Adviser, not the Funds.

The Board's considerations regarding the comparative fee data for each Fund are set forth below:

• For Nuveen High Yield Municipal Bond Fund, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio each ranked in the third quartile of its Expense Group and Expense Universe, respectively. Further, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio were each slightly above (within 5 basis points) the median of the Expense Group and Expense Universe, respectively.

• For Nuveen Short Duration High Yield Municipal Bond Fund, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio each ranked in the third quartile, fourth quartile and third quartile of its Expense Group and Expense Universe, respectively. Further, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio were each slightly above (within 5 basis points) the Expense Group median and Expense Universe median, respectively.

• For Nuveen Strategic Municipal Opportunities Fund, the Fund's contractual management fee rate, actual management fee rate and net total expense ratio each ranked in the fourth quartile of its Expense Group, and although the Fund's actual management fee rate and net total expense ratio ranked in the fourth quartile of its Expense Universe, the Fund's contractual management fee rate ranked in the third quartile of its Expense Universe. Further, although the Fund's actual management fee rate and net total expense ratio were above the Expense Group median, the Fund's contractual management fee rate was slightly above (within 5 basis points) the Expense Group median. The Fund's actual management fee rate and net total expense ratio were also above the Expense Universe median, but the Fund's contractual management fee rate was slightly above (within 5 basis points) the Expense Universe median. In its review, the Board considered that differences between the Fund, particularly its credit profile, and the peers in the Expense Group limited the value of the comparative data. The Board further considered that the Adviser agreed to extend the Fund's temporary expense cap to July 31, 2027.

Based on its review of the information provided, the Board determined that each Fund's management fees (as applicable) to a Fund Adviser were reasonable in light of the nature, extent and quality of services provided to the Fund.

**2.** **Comparisons with the Fees of Other Clients** 

In evaluating the appropriateness of fees, the Board also considered that the Adviser, Sub-Adviser and/or their affiliate(s) provide investment management services to other types of clients which may include, among others: separately managed accounts ("SMAs"), retail managed accounts, foreign funds (UCITS), other investment companies (as sub-advisers), limited partnerships and collective investment trusts. The Board considered certain fee data for these other types of clients managed in a similar manner to certain of the funds compared to the management fee of the applicable fund. The Board considered a description of various factors which contribute to the differences in the management fee rates of the funds compared to those charged to these other types of clients which limited the comparability of the data. In this regard, the Board considered that the differences in, among other things, the breadth of services provided by the Adviser and its affiliates to the funds compared to those provided to other clients; the expenses the Adviser and its affiliates incur in launching, operating and supporting a fund; the support services provided to shareholders; the extensive regulatory, disclosure and governance requirements applicable to funds; the establishment and maintenance of servicing relationships with various service providers for the funds; the manner of managing such assets; investment policies; investor profiles; and account sizes all may contribute to the variations in relative fee rates. Differences in the level of advisory services required for passively managed funds also contribute to differences in the management fee levels of such funds compared to actively managed funds. In addition, differences in the client base; governing bodies, regulatory and legal requirements; distribution; jurisdiction and operational complexities also would contribute to variations in management fees assessed the funds compared to foreign fund clients. Further, differences in the level of advisory and non-advisory services required and risk incurred when serving as a sub-adviser to other investment companies compared to serving as the Adviser to a Nuveen fund contribute to differences in the fees assessed. In this regard, the Board further considered the significant entrepreneurial, legal and regulatory risks that the Adviser incurs in sponsoring and managing the Funds. As a general matter, higher fee levels reflect higher levels of service provided by the Adviser, increased investment management complexity, greater product management requirements, and higher levels of business risk or some combination of these factors. The Board further considered that the Sub-Adviser's fee is essentially for portfolio management services and therefore more comparable to the fees received for retail wrap accounts and other external sub-advisory mandates. The Board concluded that the varying levels of fees were reasonable given the foregoing.

#### 5

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Item 11. Statement Regarding Basis for Approval of Investment Advisory

Contract. (continued)

**3.** **Profitability of the Fund Advisers** 

In considering the costs of services to be provided and profits to be realized by the Adviser (which encompassed its affiliated sub-advisers) from its relationship with the Funds, the Board Members considered a variety of estimated profitability data from various perspectives including, among other things, (a) historical pre-distribution and post-distribution margins over specified periods for the Adviser's services to the applicable funds; (b) certain profitability data on behalf of the Adviser attributable to servicing all applicable funds for 2024 and 2023; (c) certain profitability data of both the Adviser and TAL (as an adviser for other Nuveen funds) on a combined basis derived from types of funds in the aggregate (i.e., from closed-end funds, exchange-traded funds, interval funds and open-end funds) for 2024 and 2023; and (d) certain profitability data of both the Adviser and TAL (as an adviser for other Nuveen funds) on a combined basis by asset grouping of Nuveen funds in the aggregate (i.e., from equity, fund of funds, index, municipal bond and taxable fixed income funds). In addition, the Board considered profitability data at the per fund level for the respective adviser.

In reviewing the profitability data, the Board Members considered the subjective nature of calculating profitability as the information is not audited and is necessarily dependent on cost allocation methodologies to allocate expenses throughout the complex and among the various advisory products. The Board reviewed, among other things, a description of the cost allocation methodology employed to develop the profitability data. However, the Board Members considered that given there is no single universally recognized expense allocation methodology, other reasonable and valid allocation methodologies could be employed and could lead to significantly different profit and loss results and therefore developing profitability data is difficult, particularly on a per fund level.

Further, in considering the comparative margin data with peers, the Board Members considered the limitations of the comparative data given that peer data is not generally public and the calculation of profitability is subjective and affected by numerous factors (such as types of funds a peer manages, its business mix, its cost of capital, the numerous assumptions underlying the methodology used to allocate expenses and other factors) that can have a significant impact on the results. Given that the peer profitability data may reflect the different business mix of the respective peer firm, the Board also considered the pre- and post-distribution margins of Nuveen, LLC for each of the calendar years from 2020 through 2024.

Aside from the foregoing profitability data, the Board also considered, among other things, the audited statutory-basis financial statements of TIAA as of December 31, 2024 and 2023 and the related statutory-basis statements of operations, of changes in capital and contingency reserves and of cash flows for the years ended December 31, 2024, December 31, 2023 and December 31, 2022. The Board considered the benefit of an investment adviser and its parent with significant resources, particularly during periods of market volatility. The Board also considered the investments the Adviser, its parent and/or other affiliates made into their business.

In evaluating the reasonableness of the compensation, the Board Members also considered the indirect benefits the Adviser or Sub-Adviser received that were directly attributable to the management of the applicable funds as discussed in further detail below. Based on its review, the Board was satisfied that the Adviser's (together with its affiliated sub-advisers) level of profitability from its relationship with the applicable Fund was not unreasonable in light of the nature, extent and quality of services provided.

D. Economies of Scale and Whether Fee Levels Reflect These Economies of Scale

The Board considered whether there have been economies of scale with respect to the management of the funds, whether these economies of scale have been appropriately shared with the funds and whether there is potential for realization of further economies of scale. Although the Board considered that economies of scale are difficult to measure with any precision and the rates at which certain expenses are incurred may not decline with a rise in assets, the Board considered that there are a variety of methods that may be employed to help share the benefits of economies of scale, including, among other things, through the use of breakpoints in the management fee schedule, fee waivers and/or expense limitations, the pricing of funds at scale at inception and investments in the Adviser's business which can enhance the services provided to the funds for the fees paid. The Board considered such factors that were applicable to the particular Fund's advisory fee structure.

As noted above, the Board considered that the management fee of the Adviser for the Funds generally was comprised of a fund-level component and a complex-level component each with its own breakpoint schedule. The Board also approved a revised complex-wide breakpoint schedule in 2024 which reduced the complex-level fee rates at various thresholds and expanded the assets included when calculating the complex-level fee. With this structure, the Board considered that the complex-level breakpoint schedule was designed to deliver the benefits of economies of scale to shareholders when the assets of the eligible participating funds in the complex pass certain thresholds even if the assets of a particular fund are unchanged or have declined, and the fund-level breakpoint schedules were designed to share economies of scale with shareholders if the particular fund grows. The Board reviewed the fund-level and complex-level fee schedules.

In addition to the fund-level and complex-level fee schedules, the Board Members considered the temporary and/or permanent expense caps applicable to a Fund (if any). The Board considered that such waivers and reimbursements are another means for potential economies of scale to be shared with shareholders of such funds and can provide a protection from an increase in expenses if the assets of the applicable funds decline.

The Board Members also considered the continued reinvestment in Nuveen's business to enhance its capabilities and services to the benefit of its various clients. The Board considered that many of these investments were not specific to individual Nuveen funds, but rather initiatives from which the family of funds as a whole may benefit. The Board further considered that the scope of the services of the Adviser and its affiliates have expanded over time without raising advisory fees to the funds, and this was also a means of sharing economies of scale with the funds and their shareholders. The Board considered the Adviser's and/or its affiliates' ongoing efforts to streamline the product line-up, among other things, to create more scaled funds which may help improve both expense and trading economies for participating funds.

Based on its review, the Board was satisfied that the current fee arrangements together with the reinvestment in management's business appropriately shared any economies of scale with shareholders.

#### 6

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

E. Indirect Benefits

The Board Members received and considered information regarding various indirect benefits the respective Fund Adviser or its affiliates may receive as a result of their relationship with the funds. These benefits included, among other things, economies of scale to the extent the Adviser or its affiliates share investment resources and/or personnel with other clients of the Adviser. Certain funds may also be used as investment options for other products or businesses offered by the Adviser and/or its affiliates, such as variable products, fund of funds and 529 education savings plans, and affiliates of the Adviser may serve as sub-adviser to various funds in which case all advisory and sub-advisory fees generated by such funds stay within Nuveen.

Further, the funds may pay the Adviser and/or its affiliates for other services, such as distribution. In this regard, the Board Members considered that an affiliate of the Adviser serves as principal underwriter providing distribution and/or shareholder services to the open-end funds for which it may be compensated. To the extent an open-end fund pays 12b-1 fees, the Board Members considered that some of those fees may be retained by the Adviser's affiliate. In addition, the Board considered that an affiliate of the Adviser received compensation in 2024 for serving as an underwriter on shelf offerings of existing closed-end funds and reviewed the amounts paid for such services in 2024 and 2023.

In addition, the Board Members considered that the Adviser and Sub-Adviser may utilize soft dollar brokerage arrangements attributable to the respective fund(s) to obtain research and other services for any or all of their clients, although the Board Members also considered reimbursements of such costs by the Adviser and/or Sub-Adviser.

The Adviser and its affiliates may also benefit from the advisory relationships with the funds in the fund complex to the extent this relationship results in potential investors viewing the TIAA group of companies as a leading retirement plan provider in the academic and nonprofit market and a single source for all their financial service needs. The Adviser and/or its affiliates may further benefit to the extent that they have pricing or other information regarding vendors the funds utilize in establishing arrangements with such vendors for other products.

Based on its review, the Board concluded that any indirect benefits received by a Fund Adviser as a result of its relationship with the Funds were reasonable in light of the services provided.

F. Other Considerations

The Board Members did not identify any single factor discussed previously as all-important or controlling. The Board Members concluded that the terms of each Advisory Agreement were reasonable, that the respective Fund Adviser's fees were reasonable in light of the services provided to each Fund and that the Advisory Agreements be renewed for an additional one-year period.

#### 7

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**Item 12.** **Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.** <br>

Not applicable to open-end investment companies.

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**Item 13.** **Portfolio Managers of Closed-End Management Investment Companies.** <br>

Not applicable to open-end investment companies.

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**Item 14.** **Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.** <br>

Not applicable to open-end investment companies.

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**Item 15.** **Submission of Matters to a Vote of Security Holders.** <br>

There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's Board of Trustees implemented after the registrant last provided disclosure in response to this Item.

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**Item 16.** **Controls and Procedures.** <br>

(a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (the "Exchange Act") (17 CFR 240.13a-15(b) or 240.15d-15(b)).

(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.

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**Item 17.** **Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.** <br>

(a) Not applicable to open-end investment companies.

(b) Not applicable to open-end investment companies.

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**Item 18.** **Recovery of Erroneously Awarded Compensation.** <br>

(a) Not applicable.

(b) Not applicable.

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**Item 19.** **Exhibits.** <br>

(a)(1) Not applicable to this filing.

(a)(2) Not applicable to this filing.

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| | |
|:---|:---|
| (a)(3) | [Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.](d84070dex99cert.htm)  |

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(a)(4) Not applicable.

(a)(5) Not applicable.

(b) [Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 and Section 906 of the Sarbanes-Oxley Act of 2002 is attached hereto.](d84070dex99906cert.htm)

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#### SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

<u>Nuveen Municipal Trust</u>

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| | |
|:---|:---|
| Date: December 4, 2025 | &nbsp;&nbsp;&nbsp;&nbsp; By: <u>/s/ Jordan M. Farris</u> <br> Jordan M. Farris<br> Chief Administrative Officer |

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Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

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| | |
|:---|:---|
| Date: December 4, 2025 | &nbsp;&nbsp;&nbsp;&nbsp; By: <u>/s/ Jordan M. Farris</u> <br> Jordan M. Farris<br> Chief Administrative Officer<br> (principal executive officer) |
| Date: December 4, 2025 | &nbsp;&nbsp;&nbsp;&nbsp; By: <u>/s/ Marc Cardella</u> <br> Marc Cardella<br> Vice President and Controller<br> (principal financial officer) |

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## Ex-99.Cert

**Exhibit 19(a)(3)** 

**<u>CERTIFICATION</u>**

I, Jordan M. Farris, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen Municipal Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

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| | |
|:---|:---|
| Date: December 4, 2025 | &nbsp;&nbsp;&nbsp;&nbsp; By: <u>/s/ Jordan M. Farris</u> <br> Jordan M. Farris<br> Chief Administrative Officer<br> (principal executive officer) |

---

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**<u>CERTIFICATION</u>**

I, Marc Cardella, certify that:

1. I have reviewed this report on Form N-CSR of Nuveen Municipal Trust;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report,
fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the
periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining
disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be
designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is
being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial
reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting
principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this
report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that
occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and
the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over
financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in
the registrant's internal control over financial reporting.

------

---

| | |
|:---|:---|
| Date: December 4, 2025 | &nbsp;&nbsp;&nbsp;&nbsp; By: <u>/s/ Marc Cardella</u> <br> Marc Cardella<br> Vice President and Controller<br> (principal financial officer) |

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## Exhibit 99.906

**Exhibit 19(b)** 

**<u>CERTIFICATION</u>**

**Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002** 

**(Subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code)** 

In connection with the semi-annual report of Nuveen Municipal Trust (the "Registrant") on Form N-CSR for the period ended September 30, 2025, as filed with the Securities and Exchange Commission (the "Report"), the undersigned officers of the Registrant certify that, to the best of each such officer's knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act
of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and
results of operations of the Registrant.

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| | |
|:---|:---|
| Date: December 4, 2025 | &nbsp;&nbsp;&nbsp;&nbsp; By: <u>/s/ Jordan M. Farris</u> <br> Jordan M. Farris<br> Chief Administrative Officer<br> (principal executive officer) |
| Date: December 4, 2025 | &nbsp;&nbsp;&nbsp;&nbsp; By: <u>/s/ Marc Cardella</u> <br> Marc Cardella<br> Vice President and Controller<br> (principal financial officer) |

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