# EDGAR Filing Document

**Accession Number:** 0001018973
**File Stem:** 0001018973-25-000024
**Filing Date:** 2025-10
**Character Count:** 222231
**Document Hash:** e0e95098ede04e028a80174e4a6221f1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001018973-25-000024.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001018973-25-000024

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**PERIOD START**: 20260531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NUVEEN MULTISTATE TRUST IV
- **CENTRAL INDEX KEY:** 0001018973

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07751
- **FILM NUMBER:** 251421583

**BUSINESS ADDRESS:**
- **STREET 1:** C/O JOHN NUVEEN & CO INC
- **STREET 2:** 333 WEST WACKER DRIVE 32ND FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3129178200

**MAIL ADDRESS:**
- **STREET 1:** JOHN NUVEEN & CO INC
- **STREET 2:** 333 WEST WACKER DRIVE 32ND FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NUVEEN FLAGSHIP MULTISTATE TRUST IV
- **DATE OF NAME CHANGE:** 19960716

## Series and Classes Contracts Data

### Nuveen Kentucky Municipal Bond Fund (Series ID: S000000597)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000001668 | Nuveen Kentucky Municipal Bond Fund - Class A | FKYTX           |
| C000001671 | Nuveen Kentucky Municipal Bond Fund - Class I | FKYRX           |
| C000137706 | Class C                                       | FKCCX           |

## Nport-Ex

Portfolio of Investments August 31, 2025

Kansas

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 97.2%

X

176,640,817

MUNICIPAL BONDS - 97.2%

X

–

CONSUMER STAPLES - 4.5%

$

4,080,000

Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco

Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien

Series 2020A-2 Class 1

.000

%

06/01/48

$

2,724,797

1,000,000

Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco

Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien

Series 2020A-2 Class 1

.000

06/01/48

806,587

935,000

Children's Trust Fund, Puerto Rico, Tobacco Settlement Asset-

Backed Bonds, Refunding Series 2002

.500

05/15/39

947,182

900,000

Guam Economic Development & Commerce Authority, Tobacco

Settlement Asset-Backed Bonds, Series 2007A

.250

06/01/32

872,355

360,000

New York Counties Tobacco Trust VI, New York, Tobacco

Settlement Pass-Through Bonds, Series 2016A-1

.625

06/01/35

365,661

265,000

Tobacco Settlement Financing Corporation, New Jersey, Tobacco

Settlement Asset-Backed Bonds, Series 2018B

.000

06/01/46

255,105

2,510,000

TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006

.000

06/01/48

2,131,558

TOTAL CONSUMER STAPLES

8,103,245

EDUCATION AND CIVIC ORGANIZATIONS - 3.8%

4,500,000

Kansas City Kansas Community College, Wyandotte County,

Kansas, Auxiliary Enterprise System Revenue Bonds, Series 2021

.000

09/01/47

3,861,012

2,000,000

Kansas City Kansas Community College, Wyandotte County,

Kansas, Auxiliary Enterprise System Revenue Bonds, Series 2021

.000

09/01/52

1,640,123

250,000

Kansas Development Finance Authority, Revenue Bonds, Kansas

State University Projects, Series 2016A

.000

03/01/27

250,169

370,000

Kansas Development Finance Authority, Revenue Bonds, Kansas

State University Projects, Series 2024F - BAM Insured

.000

04/01/45

331,056

425,000

Kansas Development Finance Authority, Revenue Bonds, Kansas

State University Projects, Series 2024F - BAM Insured

.000

04/01/46

376,670

480,000

Kansas Development Finance Authority, Revenue Bonds, Kansas

State University Projects, Series 2024F - BAM Insured

.000

04/01/47

422,298

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

6,881,328

HEALTH CARE - 9.6%

385,000

Colorado Health Facilities Authority, Colorado, Revenue Bonds,

CommonSpirit Health, Series 2019A-2

.000

08/01/39

392,040

440,000

Hutchinson, Kansas, Hospital Facilities Revenue Bonds,

Hutchinson Regional Medical Center, Inc., Series 2016

.000

12/01/29

440,199

445,000

Hutchinson, Kansas, Hospital Facilities Revenue Bonds,

Hutchinson Regional Medical Center, Inc., Series 2016

.000

12/01/30

442,014

50,000

Hutchinson, Kansas, Hospital Facilities Revenue Bonds,

Hutchinson Regional Medical Center, Inc., Series 2016

.000

12/01/31

49,162

1,075,000

Hutchinson, Kansas, Hospital Facilities Revenue Bonds,

Hutchinson Regional Medical Center, Inc., Series 2016

.000

12/01/36

973,910

400,000

Hutchinson, Kansas, Hospital Facilities Revenue Bonds,

Hutchinson Regional Medical Center, Inc., Series 2016

.000

12/01/41

328,984

725,000

Illinois Finance Authority, Revenue Bonds, Ascension Health

Alliance, Series 2016C

.000

02/15/36

738,126

740,000

Kansas Development Finance Authority, Hospital Revenue

Bonds, Advent Health Obligated Group, Series 2021B,

(Mandatory Put 11/15/31)

.000

11/15/54

820,018

285,000

Kansas Development Finance Authority, Hospital Revenue

Bonds, Advent Health Obligated Group, Series 2021B,

(Mandatory Put 11/15/28)

.000

11/15/54

303,854

305,000

Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial

Hospital, Series 2018A

.000

07/01/43

298,216

5,000,000

Lawrence, Kansas, Hospital Revenue Bonds, Lawrence Memorial

Hospital, Series 2018A

.000

07/01/48

4,770,062

270,000

Orange County Health Facilities Authority, Florida, Hospital

Revenue Bonds, Advent Health Obligated Group, Series 2021C,

(Mandatory Put 11/15/26)

.000

11/15/52

277,391

Portfolio of Investments August 31, 2025

(continued)

Kansas

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

920,000

Puerto Rico Industrial, Tourist, Educational, Medical and

Environmental Control Facilities Financing Authority, Hospital

Revenue Bonds, (Hospital Auxilio Mutuo Obligated Group

Project, Refunding Series 2021

.000

%

07/01/27

$

947,542

295,000

Puerto Rico Industrial, Tourist, Educational, Medical and

Environmental Control Facilities Financing Authority, Hospital

Revenue Bonds, (Hospital Auxilio Mutuo Obligated Group

Project, Refunding Series 2021

.000

07/01/29

312,967

2,000,000

University of Kansas Hospital Authority, Health Facilities Revenue

Bonds, KU Health System, Refunding & Improvement Series 2015

.000

09/01/40

1,875,348

835,000

University of Kansas Hospital Authority, Health Facilities Revenue

Bonds, KU Health System, Refunding & Improvement Series 2015

.000

09/01/45

835,008

1,580,000

University of Kansas Hospital Authority, Health Facilities Revenue

Bonds, University of Kansas Health System, Series 2017A

.000

03/01/42

1,441,704

2,250,000

University of Kansas Hospital Authority, Health Facilities Revenue

Bonds, University of Kansas Health System, Series 2017A

.000

03/01/47

2,243,497

TOTAL HEALTH CARE

17,490,042

HOUSING/MULTIFAMILY - 0.8%

1,488,904

Kansas Development Finance Authority, Multifamily Housing

Bonds, M-Tebs Riverstone Sycamore Village Series 2024J-1

.170

11/01/41

1,396,373

TOTAL HOUSING/MULTIFAMILY

1,396,373

LONG-TERM CARE - 1.4%

2,500,000

Kansas Development Finance Authority Revenue Bonds, Village

Shalom Project, Series 2018A

.250

11/15/53

1,695,357

1,000,000

Wichita, Kansas, Health Care Facilities Revenue Bonds,

Presbyterian Manors, Series 2024VIII

.875

05/15/50

902,435

TOTAL LONG-TERM CARE

2,597,792

TAX OBLIGATION/GENERAL - 32.8%

1,000,000

Allen County Unified School District 257 Iola, Kansas, General

Obligation Bonds, School Building Series 2019A - BAM Insured

.000

09/01/38

850,391

1,390,000

Andover, Kansas, General Obligation Bonds, Series 2024A

.000

10/01/41

1,276,160

1,000,000

Butler County Unified School District 490, Kansas, General

Obligation Bonds, Refunding Series 2016A - BAM Insured

.000

09/01/35

1,001,037

3,000,000

Butler County Unified School District 490, Kansas, General

Obligation Bonds, School Building Series 2016B - BAM Insured

.000

09/01/43

2,698,301

100,000

Douglas County Unified School District 497, Kansas, General

Obligation Bonds, Series 2017A

.125

09/01/37

87,166

2,500,000

Douglas County Unified School District 497, Kansas, General

Obligation Bonds, Series 2018A - BAM Insured

.625

09/01/37

2,366,744

500,000

Geary County Unified School District 475, Kansas, General

Obligation Bonds, Refunding Series 2021B

.000

09/01/43

374,157

1,000,000

Harvey County Unified School District 440, Harvey County,

Kansas, General Obligation Bonds, Halstead- Bentley, Series

2024 - BAM Insured

.000

09/01/49

1,005,139

5,000,000

Harvey County Unified School District 460, Hesston, Kansas,

General Obligation Bonds, Series 2022 - BAM Insured

.000

09/01/52

5,000,556

2,070,000

Johnson County Unified School District 229, Blue Valley, Kansas,

General Obligation Bonds, School Series 2022A

.000

10/01/28

2,234,890

3,585,000

Johnson County Unified School District 512, Shawnee Mission,

Kansas, General Obligation Bonds, Improvement Series 2023A

.000

10/01/40

3,828,227

5,000,000

Johnson County Unified School District 512, Shawnee Mission,

Kansas, General Obligation Bonds, Refunding & Improvement

Series 2021A

.000

10/01/41

4,033,472

1,290,000

Johnson/Miami County Unified School District 230 Spring Hill,

Kansas, General Obligation Bonds, Improvement Series 2016B

.000

09/01/33

1,292,451

620,000

Johnson/Miami County Unified School District 230 Spring Hill,

Kansas, General Obligation Bonds, Refunding Series 2016

.000

09/01/26

636,417

1,000,000

Johnson/Miami County Unified School District 230 Spring Hill,

Kansas, General Obligation Bonds, Series 2018A

.000

09/01/34

1,045,454

1,000,000

Leavenworth County Unified School District 464, Tonganoxie,

Kansas, General Obligation Bonds, Refunding & Improvement

Series 2019A - BAM Insured

.000

09/01/45

883,248

500,000

Linn County Unified School District 362, Kansas, General

Obligation Bonds, Series 2020

.000

09/01/35

462,556

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

1,000,000

Lyon County Unified School District 253 Emporia, Kansas,

General Obligation Bonds, Series 2019

.000

%

09/01/44

$

740,043

1,030,000

Maize, Kansas, General Obligation Bonds, Series 2024A - BAM

Insured

.000

10/01/44

948,404

910,000

Rawlins County Unified School District 105, Kansas, General

Obligation Bonds, Atwood Series 2024 - BAM Insured

.000

09/01/40

1,042,383

975,000

Rawlins County Unified School District 105, Kansas, General

Obligation Bonds, Atwood Series 2024 - BAM Insured

.000

09/01/41

1,110,994

205,000

Reno County, Kansas, General Obligation Bonds, Refunding &

Improvement Series 2021

.000

09/01/31

202,652

200,000

Reno County, Kansas, General Obligation Bonds, Refunding &

Improvement Series 2021

.000

09/01/34

186,213

1,130,000

Riley County Unified School District 383, Manhattan-Ogden,

Kansas, General Obligation Bonds, Refunding Series 2016

.000

09/01/29

1,146,317

2,530,000

Saline County, Kansas, General Obligation Bonds, Sales Tax

Series 2021B

.000

09/01/33

2,416,159

500,000

Saline County, Kansas, General Obligation Bonds, Sales Tax

Series 2021B

.000

09/01/34

415,628

465,000

Sedgwick County Unified School District 262, Kansas, General

Obligation Bonds, Refunding Series 2017 - BAM Insured

.000

09/01/30

472,791

1,000,000

Sedgwick County Unified School District 265 Goddard, Kansas,

General Obligation Bonds, School Building Series 2017A - BAM

Insured

.000

10/01/32

961,527

1,650,000

Sedgwick County Unified School District 266 Maize, Harvey

County, Kansas, General Obligation Bonds, Series 2019A

.000

09/01/31

1,683,311

500,000

Sedgwick County Unified School District 266 Maize, Harvey

County, Kansas, General Obligation Bonds, Series 2019A

.000

09/01/32

508,016

460,000

Shawnee County Unified School District 437 Auburn- Washburn,

Kansas, General Obligation Bonds, Improvement Series 2024A

.000

09/01/37

508,729

1,250,000

Wabaunsee County Unified School District 330 Mission Valley,

Kansas, General Obligation Bonds, Series 2022 - BAM Insured

.500

09/01/47

1,291,313

2,000,000

Wichita, Kansas, General Obligation Bonds, Airport Series

2015C, (AMT)

.000

12/01/39

2,007,589

500,000

Wichita, Kansas, General Obligation Bonds, Airport Series

2015C, (AMT)

.250

12/01/44

436,889

1,255,000

Wichita, Kansas, General Obligation Bonds, Series 2024-835

.250

12/01/36

1,156,045

1,720,000

Wichita, Kansas, General Obligation Bonds, Series 2024-835

.000

12/01/39

1,682,604

1,000,000

Wyandotte County Unified School District 203, Piper, Kansas,

General Obligation Bonds, Improvement Series 2018A

.000

09/01/40

1,021,204

1,000,000

Wyandotte County Unified School District 203, Piper, Kansas,

General Obligation Bonds, Improvement Series 2018A

.000

09/01/41

1,016,261

1,000,000

Wyandotte County Unified School District 203, Piper, Kansas,

General Obligation Bonds, Improvement Series 2018A

.000

09/01/48

840,997

3,800,000

Wyandotte County, Unified School District 500, Kansas, Taxable

General Obligation Bonds, Series 2025 - BAM Insured

.000

09/01/50

3,823,802

200,000

Wyandotte County/Kansas City Unified Government, Kansas,

General Obligation Bonds, Improvement Series 2015A

.000

08/01/28

199,998

1,285,000

Wyandotte County/Kansas City Unified Government, Kansas,

General Obligation Bonds, Improvement Series 2025A - BAM

Insured

.000

08/01/43

1,200,523

2,500,000

Wyandotte County/Kansas City Unified Government, Kansas,

General Obligation Bonds, Improvement Series 2025A - BAM

Insured

.000

08/01/44

2,289,410

1,415,000

Wyandotte County/Kansas City Unified Government, Kansas,

General Obligation Bonds, Improvement Series 2025A

.000

08/01/45

1,277,535

TOTAL TAX OBLIGATION/GENERAL

59,663,703

TAX OBLIGATION/LIMITED - 22.9%

500,000

Dodge City, Kansas, Sales Tax Revenue Bonds, Refunding Series

2016 - AGM Insured

.000

06/01/28

520,497

1,380,000

Dodge City, Kansas, Sales Tax Revenue Bonds, Refunding Series

2016 - AGM Insured

.000

06/01/29

1,434,883

2,295,000

Dodge City, Kansas, Sales Tax Revenue Bonds, Refunding Series

2016 - AGM Insured

.000

06/01/30

2,383,048

Portfolio of Investments August 31, 2025

(continued)

Kansas

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

1,320,000

Dodge City, Kansas, Sales Tax Revenue Bonds, Refunding Series

2016 - AGM Insured

.000

%

06/01/31

$

1,368,060

1,000,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2015D

.000

11/15/34

1,004,941

1,000,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2015D

.000

11/15/39

1,004,940

500,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.250

01/01/37

535,651

1,000,000

Guam Government, Limited Obligation Section 30 Revenue

Bonds, Series 2016A

.000

12/01/30

1,019,282

1,000,000

Guam Government, Limited Obligation Section 30 Revenue

Bonds, Series 2016A

.000

12/01/32

1,015,344

2,275,000

Guam Government, Limited Obligation Section 30 Revenue

Bonds, Series 2016A

.000

12/01/33

2,289,592

1,250,000

Guam Government, Limited Obligation Section 30 Revenue

Bonds, Series 2016A

.000

12/01/46

1,227,987

2,630,000

Johnson County Community College, Kansas, Certificates of

Participation, Series 2017

.000

10/01/28

2,675,654

815,000

Johnson County Community College, Kansas, Certificates of

Participation, Series 2017

.000

10/01/31

804,852

2,240,000

Kansas Department of Transportation, Highway Revenue Bonds,

Series 2017A

.000

09/01/33

2,316,361

2,500,000

Kansas Development Finance Authority, Kansas, Revenue Bonds,

State of Kansas Projects, Taxable Series 2025A

.500

05/01/44

2,434,712

1,175,000

Kansas Development Finance Authority, Kansas, Revenue Bonds,

State of Kansas Projects, Taxable Series 2025A

.500

05/01/45

1,140,659

1,000,000

Kansas Development Finance Authority, Kansas, Revenue Bonds,

State of Kansas Projects, Refunding Series 2019F

.000

11/01/33

952,000

1,170,000

Kansas Development Finance Authority, Kansas, Sales Tax

Revenue Bonds, K-State Olathe Innovation Campus Inc., Series

2019H-1

.000

09/01/30

1,193,861

1,350,000

Kansas Development Finance Authority, Kansas, Sales Tax

Revenue Bonds, K-State Olathe Innovation Campus Inc., Series

2019H-1

.000

09/01/34

1,283,381

2,100,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/39

2,092,372

5,925,000

Overland Park Development Corporation, Kansas, Revenue

Bonds, Convention Center Hotel, Refunding & improvement

Series 2019

.000

03/01/44

5,710,189

200,000

Overland Park, Kansas, Sales Tax Revenue Bonds, Prairiefire

Community Improvement District No. 1 Project, Series 2012B

.250

12/15/29

92,000

200,000

Overland Park, Kansas, Sales Tax Revenue Bonds, Prairiefire

Community Improvement District No. 1 Project, Series 2012B

.100

12/15/34

92,000

2,775,000

(a) Overland Park, Kansas, Sales Tax Special Obligation Revenue

Bonds, Prairiefire at Lionsgate Project, Series 2012

.000

12/15/32

804,750

335,000

Ozawkie Kansas, General Obligation Refunding Bonds, Series

2020

.000

09/01/39

285,012

1,000,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/58

917,258

1,765,000

Virgin Islands Public Finance Authority, Gross Receipts Taxes

Loan Note, Refunding Series 2012A - AGM Insured

.000

10/01/32

1,769,642

1,160,000

Wyandotte County/Kansas City Unified Government, Kansas,

Community Improvement District Sales Tax Revenue Bonds,

Legends Apartments Garage & West Lawn Project, Series 2018

.500

06/01/40

1,097,815

1,260,000

Wyandotte County-Kansas City Unified Government, Kansas,

Sales Tax Special Obligation Bonds, Kansas International

Speedway Corporation Project, Refunding Series 2014

.000

12/01/26

1,262,080

675,000

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

638,379

290,000

Wyandotte County-Kansas City Unified Government,

Kansas, Sales Tax Special Obligation Revenue Bonds, Kansas

International Speedway Corporation, Series 1999

.000

12/01/27

266,580

TOTAL TAX OBLIGATION/LIMITED

41,633,782

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION - 4.0%

$

1,120,000

Colorado High Performance Transportation Enterprise, C-470

Express Lanes Revenue Bonds, Senior Lien Series 2017

.000

%

12/31/51

$

1,050,415

1,065,000

Kansas State Turnpike Authority, Turnpike Revenue Bonds,

Refunding Series 2019A

.000

09/01/31

1,155,063

1,100,000

Kansas State Turnpike Authority, Turnpike Revenue Bonds,

Refunding Series 2019A

.000

09/01/38

1,142,792

1,515,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/46

1,434,985

1,485,000

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

1,520,605

1,000,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

12/31/65

978,433

TOTAL TRANSPORTATION

7,282,293

U.S. GUARANTEED - 0.1% (b)

150,000

Illinois Finance Authority, Revenue Bonds, Ascension Health

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

.000

02/15/36

155,471

40,000

(c) Kansas Development Finance Authority, Hospital Revenue

Bonds, Advent Health Obligated Group, Series 2021B, (Pre-

refunded 11/15/28)

.000

11/15/54

42,776

15,000

Orange County Health Facilities Authority, Florida, Hospital

Revenue Bonds, Advent Health Obligated Group, Series 2021C,

(Pre-refunded 11/15/26)

.000

11/15/52

15,443

TOTAL U.S. GUARANTEED

213,690

UTILITIES - 17.3%

130,000

(d) California Pollution Control Financing Authority, Water

Furnishing Revenue Bonds, Poseidon Resources Channelside LP

Desalination Project, Series 2012, (AMT)

.000

11/21/45

123,448

600,000

Chisholm Creek Utility Authority, Kansas, Water and Wastewater

Facilities Revenue Bonds, Bel Aire & Park Cities, Kansas Project,

Refunding Series 2017 - AGM Insured

.000

09/01/27

629,633

1,135,000

Chisholm Creek Utility Authority, Kansas, Water and Wastewater

Facilities Revenue Bonds, Bel Aire & Park Cities, Kansas Project,

Refunding Series 2017 - AGM Insured

.000

09/01/29

1,161,398

1,000,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Refunding Series 2024B

.000

07/01/31

1,096,872

1,000,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Refunding Series 2024B

.000

07/01/32

1,098,705

1,000,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Refunding Series 2024B

.000

07/01/33

1,096,362

800,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Refunding Series 2024B

.000

07/01/34

876,177

2,000,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2020A

.000

01/01/50

1,908,412

1,000,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2025A

.500

07/01/55

1,019,063

1,165,000

Guam Power Authority, Revenue Bonds, Refunding Series 2017A

.000

10/01/37

1,176,950

3,750,000

Guam Power Authority, Revenue Bonds, Refunding Series 2017A

.000

10/01/40

3,751,154

150,000

Guam Power Authority, Revenue Bonds, Refunding Series 2024A

.000

10/01/43

150,914

1,000,000

Kansas Municipal Energy Agency, Power Project Revenue Bonds,

Dogwood Project, Series 2018A - BAM Insured

.000

04/01/33

1,014,188

1,000,000

Kansas Municipal Energy Agency, Power Project Revenue Bonds,

Dogwood Project, Series 2018A - BAM Insured

.000

04/01/34

1,014,304

1,000,000

Kansas Municipal Energy Agency, Power Project Revenue Bonds,

Dogwood Project, Series 2018A - BAM Insured

.000

04/01/35

1,014,304

2,480,000

Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding National Series 2007VV - AGM Insured

.250

07/01/27

2,499,570

1,065,000

Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding National Series 2007VV - AGM Insured

.250

07/01/31

1,075,749

480,000

Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2005RR - AGC Insured

.000

07/01/28

480,042

355,000

Salina, Kansas, Water and Sewer System Revenue Bonds,

Refunding Series 2019A

.000

10/01/29

355,301

Portfolio of Investments August 31, 2025

(continued)

Kansas

Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and in conformity with the

applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") related to interim filings. Part F of Form N-PORT does not

include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in

financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For

a full set of the Fund's notes to financial statements, please refer to the Fund's most recently filed annual or semi-annual report.

Fair Value Measurements

The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/

Trustees. 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).

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

them:

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

780,000

Salina, Kansas, Water and Sewer System Revenue Bonds,

Refunding Series 2019A

.000

%

10/01/30

$

779,984

580,000

Salina, Kansas, Water and Sewer System Revenue Bonds,

Refunding Series 2019A

.000

10/01/31

574,676

785,000

Topeka, Kansas, Utility Revenue Bonds, Refunding &

Improvement Series 2021A - BAM Insured

.000

08/01/30

825,456

740,000

Topeka, Kansas, Utility Revenue Bonds, Refunding &

Improvement Series 2021A - BAM Insured

.000

08/01/31

771,028

1,595,000

Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Series 2007B

.000

07/01/31

1,525,173

1,105,000

Wichita, Kansas, Water and Sewer Utility Revenue Bonds,

Refunding Series 2017B

.000

10/01/26

1,136,582

2,000,000

Wyandotte County/Kansas City Unified Government, Kansas,

Utility System Revenue Bonds, Refunding & Improvement Series

2014A

.000

09/01/44

1,973,049

2,250,000

Wyandotte County-Kansas City Unified Government, Kansas,

Utility System Revenue Bonds, Improvement Series 2016A

.000

09/01/40

2,250,075

TOTAL UTILITIES

31,378,569

TOTAL MUNICIPAL BONDS

(Cost $187,831,916)

176,640,817

TOTAL LONG-TERM INVESTMENTS

(Cost $187,831,916)

176,640,817

OTHER ASSETS & LIABILITIES, NET - 2.8%

5,046,235

NET ASSETS - 100%

$

181,687,052

AMT

Alternative Minimum Tax

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

bankruptcy.

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

payment of principal and interest.

(c) 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 $123,448 or 0.1% of Total Investments.

Kansas

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

176,640,817

$

–

$

176,640,817

Total

$

–

$

176,640,817

$

–

$

176,640,817

Portfolio of Investments August 31, 2025

Kentucky

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 111.1%

X

230,848,423

MUNICIPAL BONDS - 111.1%

X

–

EDUCATION AND CIVIC ORGANIZATIONS - 14.8%

$

155,000

Campbellsville, Kentucky, Industrial Building Revenue Bonds,

Campbellsville University Project, Series 2017

.000

%

03/01/39

$

140,770

4,000,000

Kentucky Bond Development Corporation, Educational Facilities

Revenue Bonds, City of Danville, Centre College Project, Series

2021

.000

06/01/46

3,291,113

2,000,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, Next Generation Kentucky Information Highway Project,

Senior Series 2015A

.000

07/01/33

2,001,462

5,320,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, Next Generation Kentucky Information Highway Project,

Senior Series 2015A

.000

07/01/40

5,320,033

2,500,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, Next Generation Kentucky Information Highway Project,

Senior Series 2015A

.000

01/01/45

2,459,924

500,000

Kentucky Higher Education Student Loan Corporation, Student

Loan Revenue Bonds, Senior Series 2021A-1, (AMT)

.000

06/01/31

525,775

1,450,000

Kentucky Higher Education Student Loan Corporation, Student

Loan Revenue Bonds, Senior Series 2021A-1, (AMT)

.125

06/01/32

1,279,560

1,000,000

Kentucky Higher Education Student Loan Corporation, Student

Loan Revenue Bonds, Series 2019A, (AMT)

.000

06/01/28

1,040,033

700,000

Kentucky Higher Education Student Loan Corporation, Student

Loan Revenue Bonds, Series 2019A, (AMT)

.000

06/01/29

734,830

3,025,000

Kentucky State University, Certificates of Participation, Series

2021 - BAM Insured

.000

11/01/51

2,582,794

1,350,000

Kentucky State University, Certificates of Participation, Series

2021 - BAM Insured

.000

11/01/56

1,124,583

1,125,000

Murray State University, Kentucky, General Receipts Bonds, Series

2015A

.000

03/01/26

1,128,398

1,075,000

Murray State University, Kentucky, General Receipts Bonds, Series

2015A

.000

03/01/27

1,078,292

250,000

University of Kentucky, General Receipts Bonds, Series 2016A

.000

04/01/32

250,349

3,000,000

University of Kentucky, Lease Purchase Obligations Bonds, UK

Healthcare Cancer Center Parking Project, Series 2024

.000

10/01/49

3,037,007

2,145,000

University of Louisville, Kentucky, Revenue Bonds, General

Receipts Series 2025A - BAM Insured

.000

09/01/45

2,199,395

2,500,000

University of Louisville, Kentucky, Revenue Bonds, Refunding

General Receipts Series 2016C

.000

09/01/28

2,518,156

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

30,712,474

HEALTH CARE - 20.9%

9,190,000

Hazard, Kentucky, Healthcare Revenue Bonds, Appalachian

Regional Healthcare Project, Series 2021 - AGM Insured

.000

07/01/51

7,921,316

1,000,000

Kentucky Bond Development Corporation, Hospital Revenue

Bonds, Baptist Healthcare System Williamsburg Series 2025A,

(Mandatory Put 8/15/35)

.000

08/15/55

1,083,825

8,000,000

Kentucky Bond Development Corporation, Hospital Revenue

Bonds, Saint Elizabeth Medical Center, Inc., Refunding Series

2016

.000

05/01/39

8,037,022

3,000,000

Kentucky Economic Development Finance Authority, Hospital

Revenue Bonds, Baptist Healthcare System Obligated Group,

Series 2017B

.000

08/15/41

3,011,643

500,000

Kentucky Economic Development Finance Authority, Hospital

Revenue Bonds, Owensboro Health, Refunding Series 2017A

.250

06/01/41

497,631

2,500,000

Kentucky Economic Development Finance Authority, Hospital

Revenue Bonds, Owensboro Health, Refunding Series 2017A

.000

06/01/45

2,385,259

6,385,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, CommonSpirit Health, Series 2019A-1

.000

08/01/44

6,311,687

100,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, CommonSpirit Health, Series 2019A-2

.000

08/01/37

102,720

100,000

Kentucky Economic Development Finance Authority, Revenue

Bonds, CommonSpirit Health, Series 2019A-2

.000

08/01/38

102,054

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

2,690,000

Louisville and Jefferson County Metropolitan Government,

Kentucky, Hospital Revenue Bonds, UofL Health Project, Series

2022A

.000

%

05/15/52

$

2,518,890

4,500,000

Louisville and Jefferson County Metropolitan Government,

Kentucky, Hospital Revenue Bonds, UofL Health Project, Series

2022A - AGM Insured

.000

05/15/52

4,365,840

2,000,000

Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-

Calloway County Public Hospital Corporation Project, Refunding

Series 2016

.000

08/01/37

2,001,890

500,000

Warren County, Kentucky, Hospital Revenue Bonds, Bowling

Green-Warren County Community Hospital Corporation,

Refunding Series 2021A

.000

04/01/26

506,688

500,000

Warren County, Kentucky, Hospital Revenue Bonds, Bowling

Green-Warren County Community Hospital Corporation,

Refunding Series 2021A

.000

04/01/27

519,475

1,980,000

Warren County, Kentucky, Hospital Revenue Bonds, Bowling

Green-Warren County Community Hospital Corporation, Series

2012A

.000

10/01/33

1,980,801

2,000,000

Warren County, Kentucky, Hospital Revenue Bonds, Bowling

Green-Warren County Community Hospital Corporation, Series

2012A

.000

10/01/37

2,000,534

TOTAL HEALTH CARE

43,347,275

MATERIALS - 0.5%

1,180,000

Henderson, Kentucky, Facilities Revenue Bonds, Pratt Paper LLC

Project, Series 2022A, (AMT)

.700

01/01/52

1,045,413

TOTAL MATERIALS

1,045,413

TAX OBLIGATION/GENERAL - 13.4%

5,780,000

(a) Covington, Kentucky, General Obligation Bonds, Series 2024C,

(UB)

.250

12/01/54

4,998,828

5,000,000

(a) Jefferson County School District, Kentucky, General Obligation

Bonds, Series 2024A, (UB)

.000

09/01/40

4,715,492

1,925,000

Lexington-Fayette Urban County Government, Kentucky, General

Obligation Bonds, Various Purpose Series 2025A

.000

05/01/42

1,756,423

5,685,000

Louisville and Jefferson County Metropolitan Government,

Kentucky, General Obligation Bonds, Series 2023A

.000

12/01/40

6,060,818

1,680,000

McCracken County, Kentucky, General Obligation Bonds, Series

2024A

.000

12/01/44

1,473,529

1,795,000

Richmond, Kentucky, General Obligation Bonds, Series 2025

.000

06/01/39

1,900,419

5,000,000

Richmond, Kentucky, General Obligation Bonds, Series 2025

.500

06/01/50

4,692,176

2,500,000

Shelby County Board of Education, Kentucky, General Obligation

Bonds, Series 2025

.000

02/01/42

2,274,917

TOTAL TAX OBLIGATION/GENERAL

27,872,602

TAX OBLIGATION/LIMITED - 35.1%

3,500,000

Christian County School District Finance Corporation, Kentucky,

School Building Revenue Bonds, Series 2023 - AGM Insured

.500

10/01/53

3,252,490

4,375,000

Kentucky Bond Development Corporation, Kentucky, Industrial

Building Revenue Bonds, Kentucky Communications Network

Authority, Series 2019 - BAM Insured

.000

09/01/49

4,326,676

4,000,000

Kentucky Bond Development Corporation, Transient Room Tax

Revenue Bonds, Lexington Center Corporation Project, Series

2018A

.000

09/01/48

3,890,711

1,000,000

(a) Kentucky Economic Development Finance Authority, Louisville

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

Series 2017A - AGM Insured

.000

12/01/41

913,848

13,650,000

(a) Kentucky Economic Development Finance Authority, Louisville

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

Series 2017A - AGM Insured, (UB)

.000

12/01/41

12,474,022

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

994,399

7,000,000

(a) Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 115, Series 2017, (UB)

.000

04/01/32

7,225,026

6,000,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 115, Series 2017

.000

04/01/38

6,097,981

Portfolio of Investments August 31, 2025

(continued)

Kentucky

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

3,000,000

Kentucky State Property and Buildings Commission, Revenue

Bonds, Project 132, Series 2025A

.000

%

04/01/43

$

3,083,133

1,930,000

Kentucky Turnpike Authority, Economic Development Road

Revenue Bonds, Revitalization Project, Refunding Series 2017A

.000

07/01/33

1,980,610

5,000,000

Kentucky Turnpike Authority, Economic Development Road

Revenue Bonds, Revitalization Project, Refunding Series 2017B

.000

07/01/28

5,221,640

2,650,000

Logan County School District Finance Corporation, Kentucky,

Revenue Bonds, School Building Series 2023

.125

09/01/41

2,515,868

2,765,000

Logan County School District Finance Corporation, Kentucky,

Revenue Bonds, School Building Series 2023

.250

09/01/42

2,629,705

2,870,000

Logan County School District Finance Corporation, Kentucky,

Revenue Bonds, School Building Series 2023

.250

09/01/43

2,704,892

1,910,000

Nelson County School District Finance Corporation, Kentucky,

School Building Revenue Bonds, Series 2024

.000

06/01/44

1,941,405

995,000

Newport, Kentucky, Special Obligation Revenue Bonds, Newport

Clifton Project, Series 2020B

.500

12/01/60

788,777

2,415,000

Newport, Kentucky, Special Obligation Revenue Bonds, Newport

Skypoint Project, Refunding Series 2023

.500

09/01/50

2,142,107

1,205,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/33

882,509

89,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/58

81,636

3,370,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured Cofina Project Series 2019A-2A

.550

07/01/40

3,216,239

4,180,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.329

07/01/40

3,876,709

3,000,000

(b) Union Kentucky, Special Obligation Revenue Bonds, Union

Promenade Project, Series 2022B

.500

12/01/52

2,646,419

TOTAL TAX OBLIGATION/LIMITED

72,886,802

TRANSPORTATION - 7.3%

1,750,000

Kenton County Airport Board, Kentucky, Airport Revenue Bonds,

Cincinnati/Northern Kentucky International Airport, Refunding

Series 2016

.000

01/01/31

1,760,375

1,210,000

Kenton County Airport Board, Kentucky, Airport Revenue Bonds,

Cincinnati/Northern Kentucky International Airport, Refunding

Series 2016

.000

01/01/33

1,215,916

5,795,000

Kenton County Airport Board, Kentucky, Airport Revenue Bonds,

Cincinnati/Northern Kentucky International Airport, Series 2024A,

(AMT)

.250

01/01/49

5,817,830

700,000

Kentucky Public Transportation Infrastructure Authority,

Toll Revenue Bonds, Downtown Crossing Project, Capital

Appreciation First Tier Series 2013B

.000

07/01/32

484,763

1,500,000

Kentucky Public Transportation Infrastructure Authority, Toll

Revenue Bonds, Downtown Crossing Project, Convertible Capital

Appreciation First Tier Series 2013C

.400

07/01/33

1,738,770

1,000,000

Kentucky Public Transportation Infrastructure Authority, Toll

Revenue Bonds, Downtown Crossing Project, Convertible Capital

Appreciation First Tier Series 2013C

.600

07/01/39

1,124,219

1,555,000

Louisville Regional Airport Authority, Kentucky, Airport System

Revenue Bonds, Refunding Series 2014A, (AMT)

.000

07/01/31

1,555,754

1,500,000

Louisville Regional Airport Authority, Kentucky, Airport System

Revenue Bonds, Refunding Series 2014A, (AMT)

.000

07/01/32

1,500,578

TOTAL TRANSPORTATION

15,198,205

UTILITIES - 19.1%

1,980,000

Boone-Florence Water Commission, Kentucky, Water Supply

System Revenue Bonds, Refunding Series 2024A

.000

12/01/51

1,627,890

5,705,000

Bowling Green, Kentucky, Water and Sewer Revenue Bonds,

Series 2019 - AGM Insured

.000

06/01/49

4,864,719

2,000,000

Carroll County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project, Refunding Series

2006B, (AMT)

.125

10/01/34

1,609,707

1,375,000

Carroll County, Kentucky, Environmental Facilities Revenue

Bonds, Kentucky Utilities Company Project, Refunding Series

2018A, (AMT)

.375

02/01/26

1,374,075

Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and in conformity with the

applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") related to interim filings. Part F of Form N-PORT does not

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

3,265,000

Kentucky Infrastructure Authority, Wastewater and Drinking

Water Revolving Fund Revenue Bonds, Series 2018A

.000

%

02/01/30

$

3,459,759

1,000,000

Kentucky Municipal Energy Agency, Power System Revenue

Bonds, Energy Center I Project, Series 2025

.000

01/01/50

1,010,111

1,500,000

Kentucky Municipal Power Agency, Power System Revenue

Bonds, Prairie State Project, Refunding Series 2019A

.000

09/01/45

1,226,106

1,500,000

(c) Louisville and Jefferson County Metropolitan Government Board

of Water Works, Kentucky, Water System Revenue Bonds, Series

2025

.000

11/15/35

1,691,119

3,730,000

Louisville and Jefferson County Metropolitan Sewer District,

Kentucky, Sewer and Drainage System Revenue Bonds,

Refunding Series 2018A

.000

05/15/37

3,669,021

1,000,000

Louisville and Jefferson County Metropolitan Sewer District,

Kentucky, Sewer and Drainage System Revenue Bonds,

Refunding Series 2025A

.000

05/15/55

1,006,289

365,000

Louisville and Jefferson County Metropolitan Sewer District,

Kentucky, Sewer and Drainage System Revenue Bonds, Series

2014A

.000

05/15/40

338,101

2,500,000

Louisville and Jefferson County Metropolitan Sewer District,

Kentucky, Sewer and Drainage System Revenue Bonds, Series

2023C

.000

05/15/53

2,515,094

7,000,000

(a) Louisville-Jefferson County Metropolitan Government, Kentucky,

Pollution Control Revenue Bonds, Louisville Gas and Electric

Company Project, Series 2003A

.000

10/01/33

5,882,631

1,900,000

Owen County, Kentucky, Water Facilities Revenue Bonds,

Kentucky-American Water Company Project, Refunding Series

2020, (Mandatory Put 9/01/28)

.875

06/01/40

1,869,747

2,000,000

Paducah, Kentucky, Electric Plant Board Revenue Bonds,

Refunding Series 2016A - AGM Insured

.000

10/01/33

2,038,364

5,000

Paducah, Kentucky, Electric Plant Board Revenue Bonds, Series

2009A - AGC Insured

.250

10/01/35

5,006

355,000

Princeton Electric Plant Board, Kentucky, Revenue Bonds,

Refunding Series 2015 - AGM Insured

.000

11/01/25

355,463

1,100,000

Princeton Electric Plant Board, Kentucky, Revenue Bonds,

Refunding Series 2015 - AGM Insured

.000

11/01/34

1,101,587

1,635,000

Princeton Electric Plant Board, Kentucky, Revenue Bonds,

Refunding Series 2015 - AGM Insured

.000

11/01/37

1,637,226

1,400,000

Public Energy Authority of Kentucky, Gas Supply Revenue Bonds,

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

.000

01/01/55

1,492,692

1,000,000

Rural Water Financing Agency, Kentucky, Public Projects Revenue

Bonds, Flexible Term Program, Series 2025C

.000

02/01/45

1,010,945

TOTAL UTILITIES

39,785,652

TOTAL MUNICIPAL BONDS

(Cost $242,322,800)

230,848,423

TOTAL LONG-TERM INVESTMENTS

(Cost $242,322,800)

230,848,423

FLOATING RATE OBLIGATIONS - (12.0)%

(24,855,000)

OTHER ASSETS & LIABILITIES, NET - 0.9%

1,716,623

NET ASSETS - 100%

$

207,710,046

AMT

Alternative Minimum Tax

UB

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

unless otherwise noted.

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

floating rate transactions.

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

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

As of the end of the reporting period, the aggregate value of these securities is $2,646,419 or 1.1% of Total Investments.

(c) When-issued or delayed delivery security.

Portfolio of Investments August 31, 2025

(continued)

Kentucky

include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in

financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For

a full set of the Fund's notes to financial statements, please refer to the Fund's most recently filed annual or semi-annual report.

Fair Value Measurements

The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/

Trustees. 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).

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

them:

Kentucky

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

230,848,423

$

–

$

230,848,423

Total

$

–

$

230,848,423

$

–

$

230,848,423

Portfolio of Investments August 31, 2025

Michigan

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 98.9%

X

186,556,011

MUNICIPAL BONDS - 98.9%

X

–

CONSUMER STAPLES - 1.1%

$

1,965,000

Michigan Finance Authority, Tobacco Settlement Asset- Backed

Bonds, 2006 Sold Tobacco Receipts Senior Current Interest

Series 2020A-2

.000

%

06/01/40

$

1,974,750

TOTAL CONSUMER STAPLES

1,974,750

EDUCATION AND CIVIC ORGANIZATIONS - 6.7%

500,000

Detroit Service Learning Academy, Michigan, Public School

Academy Revenue Bonds, Refunding Series 2021

.000

07/01/41

412,154

1,800,000

Michigan Technological University, General Revenue Bonds,

Refunding Series 2015A

.000

10/01/45

1,800,095

2,520,000

Michigan Technological University, General Revenue Bonds,

Series 2023A - AGM Insured

.000

10/01/47

2,521,158

500,000

Northern Michigan University, General Revenue Bonds, Series

2018A

.000

12/01/32

525,891

400,000

Northern Michigan University, General Revenue Bonds, Series

2018A

.000

12/01/34

417,786

5,480,000

Oakland University, Michigan, General Revenue Bonds, Series

2016

.000

03/01/47

5,365,500

515,000

Saginaw Valley State University, Michigan, General Revenue

Bonds, Refunding Series 2016A

.000

07/01/35

520,342

1,000,000

(a) Wayne State University, Michigan, General Revenue Bonds,

Series 2025A

.000

11/15/35

1,113,495

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

12,676,421

HEALTH CARE - 9.0%

435,000

Michigan Finance Authority, Act 38 Facilities Senior Revenue

Bonds, The Henry Ford Health Detroit South Campus Central

Utility Plant Project, Green Series 2024

.375

02/28/54

384,747

9,165,000

Michigan Finance Authority, Hospital Revenue Bonds, McLaren

Health Care, Series 2019A

.000

02/15/47

7,731,106

9,010,000

Michigan Finance Authority, Michigan, Revenue Bonds, Trinity

Health Credit Group, Refunding Series 2019A-MI

.000

12/01/49

7,599,399

1,250,000

Michigan Hospital Finance Authority, Hospital Revenue Bonds,

Corewell Health, Series 2025A

.000

08/15/42

1,298,804

TOTAL HEALTH CARE

17,014,056

HOUSING/MULTIFAMILY - 1.1%

320,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2021A

.050

10/01/27

304,139

500,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2021A

.150

04/01/28

471,418

720,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2021A

.375

04/01/29

669,300

625,000

Michigan Housing Development Authority, Rental Housing

Revenue Bonds, Series 2021A

.600

04/01/30

578,812

TOTAL HOUSING/MULTIFAMILY

2,023,669

INDUSTRIALS - 1.9%

1,000,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

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

.000

12/31/43

968,674

3,000,000

Michigan Strategic Fund, Limited Obligation Revenue Bonds,

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

.500

06/30/48

2,675,010

TOTAL INDUSTRIALS

3,643,684

LONG-TERM CARE - 0.3%

750,000

Kentwood Economic Development Corporation, Michigan,

Limited Obligation Revenue Bonds, Holland Home Obligated

Group, Refunding Series 2022

.000

11/15/43

604,789

TOTAL LONG-TERM CARE

604,789

Portfolio of Investments August 31, 2025

(continued)

Michigan

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL - 37.5%

$

2,250,000

Byron Center Public Schools, Kent County, Michigan, General

Obligation Bonds, School Building & Site Series 2017I

.000

%

05/01/43

$

2,265,584

1,000,000

Cadillac Area Public Schools, Wexford, Osceola and Lake

Counties, Michigan, General Obligation Bonds, Refunding &

School Building & Site Series 2018

.000

05/01/36

1,044,258

875,000

Cadillac Area Public Schools, Wexford, Osceola and Lake

Counties, Michigan, General Obligation Bonds, Refunding &

School Building & Site Series 2019

.000

05/01/41

895,324

1,275,000

Cedar Springs Public School District, Kent and Newaygo

Counties, Michigan, General Obligation Bonds, School Building

& Site Series 2023-II

.000

05/01/51

1,294,477

1,260,000

Clarkston Community Schools, Oakland County, Michigan,

General Obligation Bonds, School Building and Site Series

2023-I

.000

05/01/45

1,284,241

400,000

Clarkston Community Schools, Oakland County, Michigan,

General Obligation Bonds, School Building and Site Series

2025-II

.000

05/01/37

440,146

500,000

DeWitt Public Schools, Clinton County, Michigan, General

Obligation Bonds, Refunding School Building & Site, Series

2025-III

.000

05/01/40

537,719

1,560,000

Gerald R. Ford International Airport Authority, Kent County,

Michigan, Revenue Bonds, Limited Tax General Obligation Series

2021, (AMT)

.000

01/01/39

1,607,874

3,305,000

Gerald R. Ford International Airport Authority, Kent County,

Michigan, Revenue Bonds, Limited Tax General Obligation Series

2024, (AMT)

.000

01/01/44

3,311,152

2,000,000

Gerald R. Ford International Airport Authority, Kent County,

Michigan, Revenue Bonds, Limited Tax General Obligation Series

2024, (AMT)

.000

01/01/49

1,959,386

1,000,000

Gerald R. Ford International Airport Authority, Kent County,

Michigan, Revenue Bonds, Refunding, Limited Tax General

Obligation Series 2025

.000

01/01/33

1,136,005

1,325,000

Grand Rapids Public Schools, Kent County, Michigan, General

Obligation Bonds, Refunding School Building & Site Series 2016

- AGM Insured

.000

05/01/29

1,345,493

1,500,000

Grand Rapids Public Schools, Kent County, Michigan, General

Obligation Bonds, School Building & Site Series 2019 - AGM

Insured

.000

11/01/35

1,567,572

2,025,000

Grand Rapids, Kent County, Michigan, General Obligation Bonds,

Limited Tax Parking Structure Series 2024

.000

10/01/49

2,060,410

1,700,000

Grand Rapids, Kent County, Michigan, General Obligation Bonds,

Limited Tax Parking Structure Series 2024

.000

10/01/54

1,707,391

1,550,000

Grand Rapids, Kent County, Michigan, General Obligation Bonds,

Limited Tax Series 2025

.000

04/01/38

1,691,057

1,155,000

Howell Public Schools, Livingston County, Michigan, General

Obligation Bonds, School Building and Site Series 2025II

.000

05/01/38

1,248,747

1,000,000

Hudsonville Public Schools, Ottawa and Allegan Counties,

Michigan, General Obligation Bonds, School Building & Site

Refunding Series 2023

.000

05/01/53

1,008,272

2,040,000

Hudsonville Public Schools, Ottawa and Allegan Counties,

Michigan, General Obligation Bonds, School Building & Site

Series 2020-I

.000

05/01/45

1,844,873

500,000

Kalamazoo County, Michigan, General Obligation Bonds,

Juvenile Home Facilities Series 2017

.000

04/01/26

507,677

500,000

Kalamazoo County, Michigan, General Obligation Bonds,

Juvenile Home Facilities Series 2017

.000

04/01/31

518,062

380,000

Kalamazoo Public Schools, Michigan, General Obligation Bonds,

School Building & Site Series 2023-I - AGM Insured

.000

05/01/48

380,545

1,500,000

Karegnondi Water Authority, Genesee, Lapeer and Sanilac

Counties, Michigan, Water Supply System Bonds, Karegnondi

Water Pipeline, Refunding Series 2024 - BAM Insured

.000

11/01/41

1,566,341

1,920,000

Karegnondi Water Authority, Genesee, Lapeer and Sanilac

Counties, Michigan, Water Supply System Bonds, Karegnondi

Water Pipeline, Refunding Series 2024 - BAM Insured

.000

11/01/42

1,989,128

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

185,000

Lansing Community College, Michigan, General Obligation

Bonds, College Building & Site, Limited Tax Series 2017

.000

%

05/01/31

$

194,085

2,260,000

Lansing, Ingham and Eaton Counties, Michigan, General

Obligation Bonds, Limited Tax Capital Improvement Series 2023

- AGM Insured

.250

06/01/48

2,009,542

2,225,000

Lansing, Ingham and Eaton Counties, Michigan, General

Obligation Bonds, Limited Tax Capital Improvement Series 2023

- AGM Insured

.250

06/01/53

1,936,247

375,000

Marquette, Michigan, General Obligation Bonds, Refunding &

Limited Obligation Series 2017

.000

05/01/28

384,200

550,000

Marquette, Michigan, General Obligation Bonds, Refunding &

Limited Obligation Series 2017

.000

05/01/29

562,809

265,000

Marquette, Michigan, General Obligation Bonds, Refunding &

Limited Obligation Series 2017

.000

05/01/31

269,773

215,000

Marquette, Michigan, General Obligation Bonds, Refunding &

Limited Obligation Series 2017

.000

05/01/32

217,895

1,000,000

Michigan Finance Authority, Distributable State Aid Revenue

Bonds, Charter County of Wayne Criminal Justice Center Project,

Senior Lien Series 2018

.000

11/01/43

1,004,026

2,500,000

Michigan Finance Authority, Distributable State Aid Revenue

Bonds, Charter County of Wayne, Second Lien Refunding Series

2020

.000

11/01/50

2,116,190

7,000,000

Michigan Finance Authority, Distributable State Aid Revenue

Bonds, Charter County of Wayne, Second Lien Refunding Series

2020

.000

11/01/55

5,792,119

4,000,000

Michigan Finance Authority, Local Government Loan Program

Revenue Bonds, Detroit Distributable State Aid Fifth Lien LTGO

Local Project, Refunding Financial Recovery Series 2024A

.000

11/01/26

4,123,168

2,500,000

Monroe Public Schools, Monroe County, Michigan, General

Obligation Bonds, School Building & Site Series 2020I

.000

05/01/50

2,509,579

550,000

Muskegon County, Michigan, General Obligation Water Supply

System Bonds, Refunding Series 2015

.000

11/01/33

551,438

1,290,000

Muskegon County, Michigan, General Obligation Water Supply

System Bonds, Refunding Series 2015

.000

11/01/36

1,292,432

2,000,000

Portage Public Schools, Kalamazoo County, Michigan, General

Obligation Bonds, School Building & Site Series 2025 - BAM

Insured

.000

11/01/45

1,800,465

3,050,000

Rockford Public Schools, Kent County, Michigan, General

Obligation Bonds, School Building & Site Series 2019I - BAM

Insured

.000

05/01/42

3,120,459

1,095,000

Royal Oak, Oakland County, Michigan, General Obligation

Bonds, Taxable Limited Tax Series 2018

.000

04/01/43

1,116,775

1,000,000

South Haven Public Schools, Van Buren County, Michigan,

General Obligation Bonds, School Building & Site, Series 2023II

.000

05/01/52

1,015,367

1,000,000

South Lyon Community Schools, Oakland, Washtenaw and

Livingston Counties, Michigan, General Obligation Bonds,

Refunding Series 2025

.000

05/01/26

1,017,139

500,000

South Redford School District, Wayne County, Michigan, General

Obligation Bonds, School Building & Site, Series 2024

.000

05/01/51

505,265

2,500,000

Walled Lake Consolidated School District, Oakland County,

Michigan, General Obligation Bonds, School Building & Site

Series 2020

.000

05/01/45

2,521,503

775,000

Walled Lake Consolidated School District, Oakland County,

Michigan, General Obligation Bonds, School Building & Site

Series 2024

.000

05/01/46

793,335

2,000,000

Walled Lake Consolidated School District, Oakland County,

Michigan, General Obligation Bonds, School Building & Site

Series 2025

.000

05/01/50

2,003,968

670,000

Williamston Community Schools School District, Ingham County,

Michigan, General Obligation Bonds, School Building and Site

Series 2024

.000

05/01/51

680,847

TOTAL TAX OBLIGATION/GENERAL

70,750,360

Portfolio of Investments August 31, 2025

(continued)

Michigan

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED - 14.9%

$

2,500,000

Detroit Downtown Development Authority, Michigan, Tax

Increment Revenue Bonds, Catalyst Development Project,

Refunding Series 2024

.000

%

07/01/35

$

2,769,207

1,650,000

Detroit Regional Convention Authority, Michigan, Special Tax

Revenue Bonds, Refunding Series 2024C

.000

10/01/38

1,735,085

1,000,000

Lansing Township Downtown Development Authority, Ingham

County, Michigan, Tax Increment Bonds, Series 2013A

.950

02/01/42

947,695

1,000,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2019-I

.000

04/15/54

835,905

1,000,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2025I

.000

04/15/35

1,137,797

4,000,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Series 2021I

.000

10/15/46

3,529,475

9,170,000

Michigan State, Trunk Line Fund Bonds, Rebuilding Michigan

Program Series 2020B

.000

11/15/45

8,175,729

1,805,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/33

1,321,933

2,690,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.500

07/01/34

2,689,880

1,676,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/58

1,537,325

750,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured Cofina Project Series 2019A-2A

.550

07/01/40

715,780

2,960,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.329

07/01/40

2,745,229

TOTAL TAX OBLIGATION/LIMITED

28,141,040

TRANSPORTATION - 4.7%

1,455,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Senior Series 2017A

.000

12/01/42

1,457,034

2,000,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2018A

.000

12/01/36

2,054,040

1,830,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2021A

.000

12/01/39

1,911,242

3,330,000

Wayne County Airport Authority, Michigan, Revenue Bonds,

Detroit Metropolitan Wayne County Airport, Series 2021A

.000

12/01/41

3,437,160

TOTAL TRANSPORTATION

8,859,476

U.S. GUARANTEED - 1.9% (b)

155,000

Eastern Michigan University, General Revenue Bonds, Series

2018A, (Pre-refunded 3/01/28)

.000

03/01/44

161,146

3,450,000

Michigan State Building Authority, Revenue Bonds, Facilities

Program, Refunding Series 2015-I, (Pre-refunded 10/15/25)

.000

04/15/38

3,460,376

TOTAL U.S. GUARANTEED

3,621,522

UTILITIES - 19.8%

850,000

Downriver Utility Wastewater Authority, Michigan, Sewer System

Revenue Bonds, Series 2018 - AGM Insured

.000

04/01/43

857,172

2,000,000

Grand Rapids, Michigan, Sanitary Sewer System Revenue Bonds,

Series 2018

.000

01/01/48

2,004,492

1,250,000

Grand Rapids, Michigan, Water Supply System Revenue Bonds,

Refunding & Improvement Series 2016

.000

01/01/41

1,252,089

1,500,000

Grand Rapids, Michigan, Water Supply System Revenue Bonds,

Refunding & Improvement Series 2018

.000

01/01/43

1,512,371

1,000,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Refunding Second Lien Series 2025B

.000

07/01/35

1,119,848

2,500,000

Great Lakes Water Authority, Michigan, Sewer Disposal System

Revenue Bonds, Senior Lien Series 2023C

.250

07/01/48

2,590,100

170,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Refunding Senior Lien Series 2023A

.000

07/01/38

182,569

3,000,000

Great Lakes Water Authority, Michigan, Water Supply Revenue

Bonds, Senior Lien Series 2023B

.250

07/01/53

3,087,761

1,000,000

Lansing Board of Water and Light, Michigan, Utility System

Revenue Bonds, Refunding Series 2017A

.000

07/01/32

1,036,966

4,800,000

Lansing Board of Water and Light, Michigan, Utility System

Revenue Bonds, Series 2019A

.000

07/01/44

4,831,042

Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and in conformity with the

applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") related to interim filings. Part F of Form N-PORT does not

include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in

financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For

a full set of the Fund's notes to financial statements, please refer to the Fund's most recently filed annual or semi-annual report.

Fair Value Measurements

The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/

Trustees. 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).

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

them:

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

9,835,000

Lansing Board of Water and Light, Michigan, Utility System

Revenue Bonds, Series 2019A

.000

%

07/01/48

$

9,867,512

1,000,000

Marquette, Michigan, Electric Utility System Revenue Bonds,

Refunding Series 2016A

.000

07/01/29

1,018,320

1,230,000

Marquette, Michigan, Electric Utility System Revenue Bonds,

Refunding Series 2016A

.000

07/01/32

1,250,700

1,000,000

Marquette, Michigan, Electric Utility System Revenue Bonds,

Refunding Series 2016A

.000

07/01/33

1,015,920

2,000,000

Michigan Finance Authority, State Revolving Fund Program

Revenue Bonds, Series 2024A

.000

10/01/48

1,783,058

2,085,000

Michigan Public Power Agency, Michigan, Belle River Project

Revenue Bonds, Series 2024A

.000

01/01/32

2,321,278

1,500,000

Wyoming, Michigan, Water Supply System Revenue Bonds,

Series 2024

.000

12/01/50

1,515,046

TOTAL UTILITIES

37,246,244

TOTAL MUNICIPAL BONDS

(Cost $192,305,385)

186,556,011

TOTAL LONG-TERM INVESTMENTS

(Cost $192,305,385)

186,556,011

OTHER ASSETS & LIABILITIES, NET - 1.1%

2,000,282

NET ASSETS - 100%

$

188,556,293

AMT

Alternative Minimum Tax

(a) When-issued or delayed delivery security.

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

payment of principal and interest.

Michigan

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

186,556,011

$

–

$

186,556,011

Total

$

–

$

186,556,011

$

–

$

186,556,011

Portfolio of Investments August 31, 2025

Missouri

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 96.5%

X

478,827,782

MUNICIPAL BONDS - 96.5%

X

–

CONSUMER STAPLES - 2.5%

$

3,000,000

Cape Girardeau County Industrial Development Authority,

Missouri, Solid Waste Disposal Revenue Bonds, Procter &

Gamble Products Company Project, Series 1998, (AMT)

.300

%

05/15/28

$

3,006,969

8,840,000

Missouri Development Finance Board, Solid Waste Disposal

Revenue Bonds, Procter and Gamble Inc., Series 1999, (AMT)

.200

03/15/29

9,437,325

TOTAL CONSUMER STAPLES

12,444,294

EDUCATION AND CIVIC ORGANIZATIONS - 6.2%

1,000,000

Health and Educational Facilities Authority of the State of

Missouri, Educational Facilities Revenue Bonds, University of

Central Missouri, Series 2018 A

.000

10/01/38

935,731

2,000,000

Missouri Health and Educational Facilities Authority, Educational

Facilities Revenue Bonds, Kansas City University of Medicine and

Biosciences, Series 2017A

.000

06/01/47

1,983,476

2,225,000

Missouri Health and Educational Facilities Authority, Educational

Facilities Revenue Bonds, Southeast Missouri State University,

Refunding Series 2019

.000

10/01/35

2,228,425

3,470,000

Missouri Health and Educational Facilities Authority, Educational

Facilities Revenue Bonds, Southwest Baptist University Project,

Series 2012

.000

10/01/33

3,341,273

1,000,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Maryville University of St. Louis Project, Series 2015

.000

06/15/44

919,678

2,700,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Maryville University of St. Louis Project, Series 2025A

.500

06/15/47

2,607,416

2,000,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Saint Louis University, Series 2015A

.000

10/01/42

1,859,082

600,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Saint Louis University, Series 2017A

.000

10/01/36

601,660

9,165,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Saint Louis University, Series 2019A

.000

10/01/46

9,212,196

5,840,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Saint Louis University, Series 2019A

.000

10/01/48

5,026,878

1,150,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Webster University, Refunding Series 2017

.000

04/01/34

919,433

1,100,000

Saline County Industrial Development Authority, Missouri, First

Mortgage Revenue Bonds, Missouri Valley College, Series 2017

.500

10/01/40

910,675

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

30,545,923

HEALTH CARE - 20.4%

675,000

Barton County, Missouri, Hospital Revenue Bonds, Cox Barton

County Hospital Project, Series 2017B

.650

07/01/27

668,394

3,110,000

Bridgeton Industrial Development Authority, Missouri, Senior

Housing Revenue Bonds, The Sarah Community Project,

Refunding Series 2016

.000

05/01/33

3,111,054

975,000

Cape Girardeau County Industrial Development Authority,

Missouri, Health Facilities Revenue Bonds, Southeasthealth,

Series 2016A

.000

03/01/33

985,983

1,325,000

Cape Girardeau County Industrial Development Authority,

Missouri, Health Facilities Revenue Bonds, Southeasthealth,

Series 2017A

.000

03/01/31

1,362,412

1,320,000

Cape Girardeau County Industrial Development Authority,

Missouri, Health Facilities Revenue Bonds, Southeasthealth,

Series 2017A

.000

03/01/32

1,352,746

1,645,000

Cape Girardeau County Industrial Development Authority,

Missouri, Health Facilities Revenue Bonds, Southeasthealth,

Series 2017A

.000

03/01/36

1,668,113

2,680,000

Cape Girardeau County Industrial Development Authority,

Missouri, Health Facilities Revenue Bonds, Southeasthealth,

Series 2021

.000

03/01/46

2,374,084

1,170,000

Hannibal Industrial Development Authority, Missouri, Health

Facilities Revenue Bonds, Hannibal Regional Healthcare System,

Series 2017

.000

10/01/31

1,173,602

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

1,220,000

Hannibal Industrial Development Authority, Missouri, Health

Facilities Revenue Bonds, Hannibal Regional Healthcare System,

Series 2017

.000

%

10/01/32

$

1,220,271

3,045,000

Hannibal Industrial Development Authority, Missouri, Health

Facilities Revenue Bonds, Hannibal Regional Healthcare System,

Series 2017

.000

10/01/42

2,807,877

1,400,000

Joplin Industrial Development Authority, Missouri, Health

Facilities Revenue Bonds, Freeman Health System, Series 2024

.000

02/15/42

1,418,847

8,285,000

Missouri Health and Education Facilities Authority, Health

Facilities Revenue Bonds, Saint Luke's Health System, Inc., Series

2016

.000

11/15/35

8,350,169

1,000,000

Missouri Health and Education Facilities Authority, Health

Facilities Revenue Bonds, Saint Luke's Health System, Inc., Series

2018A

.000

11/15/43

1,005,749

7,725,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Series 2021A

.000

07/01/46

6,788,105

9,875,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Series 2025A

.000

04/01/45

8,662,168

4,125,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, BJC Health System, Variable Rate

Demand Obligation Series 2017D, (Mandatory Put 1/01/48)

.000

01/01/58

3,485,046

1,000,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, CoxHealth, Fixed Series 2019A

.000

11/15/49

841,260

1,475,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, CoxHealth, Series 2013A

.000

11/15/44

1,474,584

2,980,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, CoxHealth, Series 2013A

.000

11/15/48

2,936,198

2,035,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, CoxHealth, Series 2015A

.000

11/15/33

2,040,566

4,400,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, CoxHealth, Series 2015A

.000

11/15/39

4,403,798

845,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mercy Health, Series 2014F

.000

11/15/45

839,918

2,300,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mercy Health, Series 2014F

.250

11/15/48

2,019,091

3,500,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mercy Health, Series 2017C

.000

11/15/42

3,490,537

3,535,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mercy Health, Series 2017C

.000

11/15/47

2,991,701

1,330,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mercy Health, Series 2018A

.000

06/01/30

1,417,544

7,500,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mercy Health, Series 2020

.000

06/01/50

6,266,164

4,000,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mercy Health, Series 2023

.500

12/01/48

4,141,279

8,995,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Mosaic Health System, Series 2019A

.000

02/15/54

7,159,739

500,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Saint Luke's Episcopal & Presbyterian

Hospitals, Series 2015B

.625

12/01/34

484,392

1,100,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Saint Luke's Episcopal & Presbyterian

Hospitals, Series 2019

.000

12/01/35

1,076,546

1,000,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, SSM Health Care, Series 2018A

.000

06/01/48

851,248

1,500,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, SSM Health Care, Series 2018A

.000

06/01/48

1,467,308

2,000,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, SSM Health Care, Series 2022A

.000

06/01/52

1,668,535

795,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Children's Mercy Hospital, Series 2017A

.000

05/15/48

680,034

1,500,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Lake Regional Health System, Series 2021

.000

02/15/51

1,190,833

Portfolio of Investments August 31, 2025

(continued)

Missouri

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

2,325,000

Saint Louis County Industrial Development Authority, Missouri,

Health Facilities Revenue Bonds, Ranken-Jordan Project,

Refunding & Improvement Series 2016

.000

%

11/15/36

$

2,053,080

4,650,000

Saint Louis County Industrial Development Authority, Missouri,

Health Facilities Revenue Bonds, Ranken-Jordan Project,

Refunding & Improvement Series 2016

.000

11/15/46

4,123,501

990,000

Stoddard County Industrial Development Authority, Missouri,

Health Facility Revenue Bonds, Southeasthealth, Series 2016B

.000

03/01/37

1,000,981

TOTAL HEALTH CARE

101,053,457

HOUSING/MULTIFAMILY - 0.2%

1,000,000

Missouri Housing Development Commission, Multifamily

Housing Revenue Bonds, Shepard Apartments Project, 2013

Series 3

.000

07/01/45

1,000,005

TOTAL HOUSING/MULTIFAMILY

1,000,005

HOUSING/SINGLE FAMILY - 1.7%

5,000,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program, Series 2025A

.500

11/01/45

4,778,822

2,500,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Home Ownership Loan

Program, Series 2025D

.050

11/01/45

2,516,575

465,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2017A-2

.800

11/01/37

447,107

540,000

Missouri Housing Development Commission, Single Family

Mortgage Revenue Bonds, First Place Homeownership Loan

Program, Series 2024A

.600

11/01/49

513,208

TOTAL HOUSING/SINGLE FAMILY

8,255,712

LONG-TERM CARE - 4.5%

900,000

Kirkwood Industrial Development Authority, Missouri, Retirement

Community Revenue Bonds, Aberdeen Heights Project, Series

2017A

.250

05/15/37

873,548

555,000

Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Bethesda Health Group, Inc., Series

2021

.000

08/01/41

465,785

6,550,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Lutheran Senior Services Projects, Series 2016A

.000

02/01/46

5,910,573

1,000,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Lutheran Senior Services Projects, Series 2016B

.000

02/01/46

902,378

475,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Lutheran Senior Services Projects, Series 2019C

.000

02/01/32

472,982

1,100,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Lutheran Senior Services Projects, Series 2019C

.000

02/01/42

1,067,433

2,580,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Lutheran Senior Services Projects, Series 2019C

.000

02/01/48

2,004,356

1,500,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Lutheran Senior Services Projects, Series 2024A

.000

02/01/42

1,455,590

1,430,000

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Lutheran Senior Services Projects, Series 2024A

.250

02/01/48

1,371,858

460,000

Saint Louis County Industrial Development Authority, Missouri,

Revenue Bonds, Friendship Village of Sunset Hills, Series 2012

.000

09/01/32

460,190

2,870,000

Saint Louis County Industrial Development Authority, Missouri,

Revenue Bonds, Friendship Village of Sunset Hills, Series 2012

.000

09/01/42

2,667,762

2,570,000

Saint Louis County Industrial Development Authority, Missouri,

Revenue Bonds, Friendship Village of Sunset Hills, Series 2013A

.875

09/01/43

2,569,751

1,000,000

Saint Louis County Industrial Development Authority, Missouri,

Revenue Bonds, Friendship Village Saint Louis Obligated Group,

Series 2017

.000

09/01/48

905,542

1,000,000

Saint Louis County Industrial Development Authority, Missouri,

Revenue Bonds, Friendship Village Saint Louis Obligated Group,

Series 2018A

.250

09/01/53

918,018

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM CARE

(continued)

$

500,000

Saint Louis County Industrial Development Authority, Missouri,

Revenue Bonds, Saint Andrew's Resources for Seniors, Series

2015A

.125

%

12/01/45

$

432,033

TOTAL LONG-TERM CARE

22,477,799

TAX OBLIGATION/GENERAL - 19.8%

1,410,000

Carl Junction School District R-1, Jasper County, Missouri,

General Obligation Bonds, Series 2024

.000

03/01/44

1,433,833

3,040,000

Clay County Public School District 53, Liberty, Missouri, General

Obligation Bonds, School Series 2023

.000

03/01/41

3,154,827

3,665,000

Clay County Public School District 53, Liberty, Missouri, General

Obligation Bonds, Series 2018

.000

03/01/36

3,666,627

2,000,000

Clay County Reorganized School District R-II Smithville, Missouri,

General Obligation Bonds, Refunding Series 2015

.000

03/01/35

2,009,656

1,160,000

Clay County Reorganized School District R-II Smithville, Missouri,

General Obligation Bonds, Refunding Series 2015

.000

03/01/36

1,163,871

500,000

Clay County Reorganized School District R-II Smithville, Missouri,

General Obligation Bonds, School Building Series 2025

.000

03/01/44

555,755

1,000,000

Clever R-V School District, Christian County, Missouri, General

Obligation Bonds, Refunding and Improvement Series 2024

.250

03/01/43

1,040,540

450,000

Fenton Missouri Fire Protection District, Missouri, General

Obligation Bonds, Series 2019

.000

03/01/36

450,657

1,800,000

Fort Zumwalt School District, Callaway County, Missouri, General

Obligation Bonds, Refunding & Improvement Series 2018

.000

03/01/36

1,838,690

2,000,000

Greene County Reorganized School District 3, Republic, Missouri,

General Obligation Bonds, Series 2025

.500

03/01/45

2,291,483

500,000

Harrisonville School District R-09, Cass County, Missouri, General

Obligation Bonds, Refunding Series 2024

.000

03/01/40

516,874

3,235,000

Hazelwood School District, St. Louis County, Missouri, General

Obligation Bonds, Refunding and Improvement Series 2023A -

BAM Insured

.000

03/01/42

3,323,853

1,225,000

Hollister R-V School District, Taney County, Missouri, General

Obligation Bonds, School Series 2024A

.000

03/01/42

1,258,482

470,000

Jackson County Center School District 58, Missouri, General

Obligation Bonds, Refunding & School Building Series 2019A

.000

03/01/38

466,132

2,000,000

Jackson County Consolidated School District 2, Raytown,

Missouri, General Obligation Bonds, School Series 2023

.000

03/01/43

2,072,772

1,000,000

Jackson County Consolidated School District 2, Raytown,

Missouri, General Obligation Bonds, Series 2019A

.000

03/01/39

1,030,453

2,800,000

Jackson County Consolidated School District 4, Missouri,

General Obligation Bonds, School Building Series 2024

.750

03/01/44

3,012,403

575,000

Jackson County Consolidated School District 4, Missouri,

General Obligation Bonds, Series 2025

.750

03/01/43

629,217

125,000

Jackson County Consolidated School District 4, Missouri,

General Obligation Bonds, Series 2025

.750

03/01/45

135,966

1,140,000

Jackson County Reorganized School District 4, Blue Springs,

Missouri, General Obligation Bonds, School Building Series

2018A

.500

03/01/37

1,209,333

1,500,000

Jackson County Reorganized School District R-7, Lees Summit,

Missouri, General Obligation Bonds, School Building Series

2025A

.000

03/01/45

1,662,618

1,335,000

Jefferson City School District, Missouri, General Obligation

Bonds, Series 2023A

.500

03/01/43

1,409,148

2,000,000

Jefferson County School District R-1 Northwest, Missouri,

General Obligation Bonds, Direct Deposit Program Series 2023

.000

03/01/43

2,031,245

365,000

Johnson County School District R-VI Warrensburg, Missouri,

General Obligation Bonds, Refunding Series 2025

.750

03/01/42

401,134

1,510,000

Kansas City, Missouri, General Obligation Bonds, Refunding &

Improvement Series 2018A

.000

02/01/36

1,518,446

1,000,000

Kansas City, Missouri, General Obligation Bonds, Refunding &

Improvement Series 2018A

.000

02/01/37

1,001,815

1,585,000

Marshfield, Missouri, Combined Waterworks and Sewerage

System Revenue Bones, Series 2020B - AGM Insured

.000

02/01/50

1,585,297

325,000

Marshfield, Missouri, General Obligation Bonds, Street

Improvement Series 2018

.000

03/01/34

329,185

Portfolio of Investments August 31, 2025

(continued)

Missouri

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

685,000

Marshfield, Missouri, General Obligation Bonds, Street

Improvement Series 2018

.000

%

03/01/35

$

693,753

300,000

(a) Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Truman Medical Center, Inc., Pass-

Through Certificate Series 2017B

.000

12/01/37

300,729

1,350,000

(a) Missouri Health and Educational Facilities Authority, Health

Facilities Revenue Bonds, Truman Medical Center, Inc., Pass-

Through Certificate Series 2017B

.250

12/01/42

1,145,483

875,000

North Callaway County R-I School District, Missouri, General

Obligation Bonds, Series 2024

.000

03/01/44

918,666

3,300,000

North Kansas City School District 74, Clay County, Missouri,

General Obligation Bonds, Direct Deposit Program,

Improvement Series 2022

.250

03/01/38

3,534,033

5,000,000

North Kansas City School District 74, Clay County, Missouri,

General Obligation Bonds, Direct Deposit Program,

Improvement Series 2022

.250

03/01/40

5,331,763

500,000

Orchard Farm R-V School District, St. Charles County, Missouri,

General Obligation Bonds, Missouri Direct Deposit Program,

School Series 2024A

.500

03/01/43

540,386

1,000,000

Orchard Farm R-V School District, St. Charles County, Missouri,

General Obligation Bonds, Missouri Direct Deposit Program,

School Series 2024A

.500

03/01/44

1,074,881

2,000,000

Osage School Lake Ozark, Missouri, General Obligation Bonds,

Series 2018

.000

03/01/37

2,024,064

2,000,000

Platte County School District Park Hill, Missouri, General

Obligation Bonds, Missouri Direct Deposit Program, Refunding

Series 2017

.000

03/01/31

2,013,679

855,000

Polk County R-1 School District, Bolivar, Missouri, General

Obligation Bonds, Missouri Direct Deposit Program, Series 2024

.000

03/01/42

885,057

500,000

Polk County R-1 School District, Bolivar, Missouri, General

Obligation Bonds, Missouri Direct Deposit Program, Series 2024

.000

03/01/44

451,830

590,000

Pulaski County Reorganized-6 District Lessee, Missouri,

Certificate of Participation, Series 2025

.000

04/15/44

596,118

500,000

Pulaski County Reorganized-6 District Lessee, Missouri,

Certificate of Participation, Series 2025

.625

04/15/47

465,153

1,095,000

Rolla School District 31, Phelps County, Missouri, General

Obligation Bonds, Direct Deposit Program Refunding and

Improvement Series 2023

.000

03/01/41

1,132,599

1,675,000

Rolla School District 31, Phelps County, Missouri, General

Obligation Bonds, Direct Deposit Program Refunding and

Improvement Series 2023

.000

03/01/42

1,721,006

1,550,000

Rolla School District 31, Phelps County, Missouri, General

Obligation Bonds, Direct Deposit Program Refunding and

Improvement Series 2023

.000

03/01/43

1,585,841

3,725,000

Saint Charles, Missouri, General Obligation Bonds, Series 2024A

.000

03/01/43

3,891,585

2,500,000

Saint Charles, Missouri, General Obligation Bonds, Series 2024A

.000

03/01/44

2,602,670

3,500,000

Saint Louis Board of Education, Missouri, General Obligation

Bonds, Series 2023 - AGM Insured

.000

04/01/41

3,645,490

3,425,000

Saint Louis County Pattonville School District R3, Missouri,

General Obligation Bonds, Series 2023

.250

03/01/43

3,554,878

1,500,000

Springfield School District R12, Greene County, Missouri,

General Obligation Bonds, School Building Series 2023

.000

03/01/43

1,390,438

1,300,000

St. Charles School District, Missouri, General Obligation Bonds,

Series 2025

.000

03/01/43

1,334,905

3,500,000

Troy R3 School District, Lincoln County, Missouri, General

Obligation Bonds, Series 2023

.000

03/01/37

3,667,349

2,500,000

Troy R3 School District, Lincoln County, Missouri, General

Obligation Bonds, Series 2025

.000

03/01/43

2,573,373

1,500,000

University City, Missouri, Certificates of Participation, Series 2024

.000

04/01/44

1,523,874

1,500,000

University City, Missouri, Certificates of Participation, Series 2024

.000

04/01/49

1,511,412

3,760,000

Webster Groves School District, Missouri, Crossover General

Obligation Bonds, Series 2024

.000

03/01/43

3,872,490

860,000

Wentzville Fire Protection District, St. Charles County, Missouri,

General Obligation Bonds, Series 2024

.000

04/15/40

896,443

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

1,040,000

Wentzville Fire Protection District, St. Charles County, Missouri,

General Obligation Bonds, Series 2024

.000

%

04/15/41

$

1,077,672

1,135,000

Wright City School District R-II, Warren County, Missouri, General

Obligation Bonds, School Building Series 2022 - AGM Insured

.000

03/01/39

1,274,047

TOTAL TAX OBLIGATION/GENERAL

98,431,979

TAX OBLIGATION/LIMITED - 16.8%

5,300,000

Bi-State Development Agency of the Missouri-Illinois

Metropolitan District, Mass Transit Sales Tax Appropriation

Bonds, Refunding Combined Lien Series 2019

.000

10/01/48

4,540,216

340,000

Clay County School District R-11 Smithville, Missouri, Certificates

of Participation, Series 2018

.000

04/01/38

335,346

2,515,000

Clay County School District R-11 Smithville, Missouri, Certificates

of Participation, Series 2018

.000

04/01/43

2,544,755

900,000

Clay, Jackson & Platte Counties Consolidated Public Library

District 3, Missouri, Certificates of Participation, Mid-Continent

Public Library Project, Series 2018

.000

03/01/35

900,566

1,140,000

Conley Road Transportation District, Missouri, Transportation

Sales Tax Revenue Bonds, Series 2017

.125

05/01/41

1,123,285

500,000

Festus R-VI School District, Jefferson County, Missouri, Lease

Participation Certificates, Festus R-VI School District Project,

Series 2021B

.000

04/01/41

462,353

1,403,903

(b) Fulton, Missouri, Tax Increment Revenue Bonds, Fulton Commons

Redevelopment Project, Series 2006

.000

06/01/28

294,820

750,000

Greene County, Missouri, Certificates of Participation, Capital

Projects, Series 2018

.000

09/01/33

758,580

980,000

Hanley/Eager Road Transportation Development District,

Missouri, Revenue Bonds, Refunding Series 2016A

.625

03/01/33

886,056

1,145,000

Harrisonville, Missouri, Certificates of Participation, Refunding

and Improvement, Parks Improvement Project Series 2023B

.000

03/01/33

1,174,294

1,745,000

Howard Bend Levee District, Missouri, Levee District

Improvement Bonds, Series 2005 - SYNCORA GTY Insured

.500

03/01/26

1,765,069

1,000,000

Howard Bend Levee District, St. Louis County, Missouri, Levee

District Improvement Bonds, Series 2013B

.875

03/01/33

993,838

1,300,000

Howard Bend Levee District, St. Louis County, Missouri, Levee

District Improvement Bonds, Series 2013B

.000

03/01/38

1,237,885

2,000,000

Jackson County, Missouri, Special Obligation Bonds, Series

2023A

.250

12/01/47

2,055,764

925,000

Kansas City Industrial Development Authority, Missouri,

Downtown Redevelopment District Revenue Bonds, Refunding

Series 2011A

.000

09/01/32

928,384

700,000

(a) Kansas City Industrial Development Authority, Missouri,

Economic Activity Tax Revenue Bonds, Historic Northeast

Redevelopment Plan Series 2024A-1

.000

06/01/46

644,596

85,000

(a) Kansas City Industrial Development Authority, Missouri, Sales Tax

Revenue Bonds, Ward Parkway Center Community Improvement

District, Senior Refunding & Improvement Series 2016

.250

04/01/26

84,930

2,000,000

Kansas City Municipal Assistance Corporation, Missouri,

Leasehold Revenue Bonds, Improvement Series 2004B-1 -

AMBAC Insured

.000

04/15/27

1,901,631

1,750,000

Kansas City, Missouri, Special Obligation Bonds, Downtown

Redevelopment District, Refunding Series 2014C

.000

09/01/33

1,752,363

360,000

Kansas City, Missouri, Special Obligation Bonds, Kansas City

Missouri Projects, Series 2017B

.000

10/01/30

367,467

2,500,000

Kansas City, Missouri, Special Obligation Bonds, Kansas City

Missouri Projects, Series 2017B

.000

09/01/31

2,593,203

235,000

Kansas City, Missouri, Special Obligation Bonds, Kansas City

Missouri Projects, Series 2017B

.625

10/01/32

235,439

1,585,000

Kansas City, Missouri, Special Obligation Bonds, Kansas City

Missouri Projects, Series 2021A

.000

04/01/39

1,659,601

485,000

Kansas City, Missouri, Special Obligation Bonds, Kansas City

Missouri Projects, Series 2024B

.125

09/01/46

428,934

650,000

Kansas City, Missouri, Special Obligation Bonds, Kansas City

Missouri Projects, Series 2025B

.000

04/01/44

666,320

Portfolio of Investments August 31, 2025

(continued)

Missouri

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

380,000

Kansas City, Missouri, Special Obligation Bonds, Kansas City

Missouri Projects, Series 2025B

.000

%

04/01/45

$

387,831

38,790

Lakeside 370 Levee District, Saint Charles, Missouri, Subdistrict A

Bonds, Refunding Series 2015A

.750

04/01/55

31,859

168,967

Lakeside 370 Levee District, Saint Charles, Missouri, Subdistrict B

Bonds, Refunding Taxable Series 2015B

.000

04/01/55

152,070

1,450,000

(a) Land Clearance for Redevelopment Authority of Kansas City,

Missouri, Project Revenue Bonds, Convention Center Hotel

Project - TIF Financing, Series 2018B

.000

02/01/40

1,399,812

100,000

(a) Land Clearance for Redevelopment Authority of Kansas City,

Missouri, Project Revenue Bonds, Convention Center Hotel

Project - TIF Financing, Series 2018B

.000

02/01/50

92,316

1,195,000

(a) Liberty, Missouri, Special Obligation Tax Increment and Special

Districts Bonds, Liberty Commons Project, Series 2015A

.750

06/01/35

1,120,498

1,285,000

(a) Liberty, Missouri, Special Obligation Tax Increment and Special

Districts Bonds, Liberty Commons Project, Series 2015A

.000

06/01/46

1,137,382

2,000,000

Marshall School District, Missouri, Certificates of Participation,

Series 2023 - BAM Insured

.000

03/01/49

2,010,214

1,000,000

Missouri Development Finance Board, Revenue Bonds, Zoo

Projects, Series 2022

.750

05/01/52

1,033,554

1,000,000

Monarch-Chesterfield Levee District, Saint Louis County,

Missouri, Levee District Bonds, Refunding Series 2015

.000

03/01/40

1,000,853

695,000

Ozark R-6 School District, Christian County, Missouri, Certificates

of Participation, Series 2023

.000

04/01/45

698,140

3,000,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.500

07/01/34

2,999,866

2,140,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/51

499,509

4,712,870

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/58

4,322,919

1,000,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.329

07/01/40

927,442

18,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.536

07/01/53

15,525

880,000

Pulaski County, Missouri, Certificates of Participation, Series 2019

.000

12/01/32

885,935

915,000

Pulaski County, Missouri, Certificates of Participation, Series 2019

.000

12/01/33

918,570

490,000

(a) Saint Charles County Industrial Development Authority,

Missouri, Sales Tax Revenue Bonds, Wentzville Parkway Regional

Community Improvement District Project, Series 2019B

.250

11/01/49

390,079

250,000

(a) Saint Louis County Industrial Development Authority, Missouri,

Sales Tax Revenue Bonds, Chesterfield Blue Valley Community

Improvement District Project, Series 2014A

.250

07/01/44

213,944

80,000

(a) Saint Louis County Industrial Development Authority, Missouri,

Transportation Development Revenue Bonds, University Place

Transportation Development District Project, Refunding Series

2015

.000

03/01/32

77,120

360,000

Saint Louis Industrial Development Authority, Missouri, Tax

Increment and Special District Revenue Bonds, Union Station

Phase 2 Redevelopment Project, Series 2024A

.875

06/15/34

360,736

2,100,000

Saint Louis Land Clearance for Redevelopment Authority,

Missouri, Annual Appropriation Redevelopment Revenue Bonds,

National Geospatial-Intelligence Agency Offsite Improvements,

Series 2022C

.125

06/01/46

1,950,183

2,450,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Expansion & Improvement

Projects Series 2020 - AGM Insured

.000

10/01/40

2,524,020

5,500,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Expansion & Improvement

Projects Series 2020 - AGM Insured

.000

10/01/49

5,506,594

1,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2009A - AGC Insured

.000

07/15/26

972,672

1,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2009A - AGC Insured

.000

07/15/27

942,262

1,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2009A - AGC Insured

.000

07/15/28

911,411

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

1,000,000

Saint Louis Municipal Finance Corporation, Missouri, Leasehold

Revenue Bonds, Convention Center, Series 2009A - AGC Insured

.000

%

07/15/29

$

880,510

505,000

Scenic Regional Library District, Missouri, Certificates of

Participation, Series 2017

.000

04/01/29

505,497

345,000

Scenic Regional Library District, Missouri, Certificates of

Participation, Series 2017

.000

04/01/30

345,350

565,000

Scenic Regional Library District, Missouri, Certificates of

Participation, Series 2017

.000

04/01/32

565,223

585,000

Scenic Regional Library District, Missouri, Certificates of

Participation, Series 2017

.000

04/01/33

585,156

450,000

Springfield, Missouri, Special Obligation Bonds, Improvement

Series 2023

.000

11/01/40

472,049

530,000

Springfield, Missouri, Special Obligation Bonds, Improvement

Series 2024

.000

11/01/40

557,895

2,600,000

Springfield, Missouri, Special Obligation Bonds, Refunding

Series 2017A

.000

07/01/36

2,604,944

2,000,000

Springfield, Missouri, Special Obligation Bonds, Sewer System

Improvements Project, Series 2015

.000

04/01/35

1,999,950

1,415,000

(a) Taney County Industrial Development Authority, Missouri, Sales

Tax Revenue Improvement Bonds, Big Cedar Infrastructure

Project Series 2023

.000

10/01/49

1,335,606

125,000

The Industrial Development Authority of the City of Saint Louis,

Missouri, Development Financing Revenue Bonds, Ballpark

Village Development Project, Series 2017A

.875

11/15/29

119,493

3,350,000

The Industrial Development Authority of the City of Saint Louis,

Missouri, Development Financing Revenue Bonds, Ballpark

Village Development Project, Series 2017A

.375

11/15/35

3,018,772

1,575,000

The Industrial Development Authority of the City of Saint Louis,

Missouri, Development Financing Revenue Bonds, Ballpark

Village Development Project, Series 2017A

.750

11/15/47

1,324,847

55,000

Town and Country Crossing Transportation Development District,

Missouri, Transportation Sales Tax Revenue Bonds, Refunding

Series 2020A

.375

04/01/37

48,568

540,000

Transportation Development District, Missouri, Transportation

Sales Tax Revenue Bonds, Series 2017

.500

06/01/36

535,594

1,500,000

Universal City Industrial Development Authority, Missouri,

Revenue Bonds, Tax Increment and Special District Markets at

Olive Project Series 2023A

.500

06/15/42

1,445,395

925,000

Warrenton Tax Increment and Improvement District, Missouri,

Revenue Bonds, Warrenton West Development - Redevelopment

Project Area 1, Series 2022

.625

03/01/40

729,758

1,700,000

Wentzville School District R-04, Saint Charles County, Missouri,

Certificates of Participation, Series 2015

.375

04/01/29

1,700,395

600,000

Wentzville School District R-04, Saint Charles County, Missouri,

Certificates of Participation, Series 2015

.500

04/01/32

599,984

TOTAL TAX OBLIGATION/LIMITED

83,193,997

TRANSPORTATION - 7.8%

7,000,000

Kansas City Industrial Development Authority, Missouri, Airport

Special Obligation Bonds, Kansas City International Airport

Terminal Modernization Project, Series 2019A, (AMT)

.000

03/01/44

6,890,940

2,700,000

Kansas City Industrial Development Authority, Missouri, Airport

Special Obligation Bonds, Kansas City International Airport

Terminal Modernization Project, Series 2019B, (AMT)

.000

03/01/46

2,637,150

14,240,000

Kansas City Industrial Development Authority, Missouri, Airport

Special Obligation Bonds, Kansas City International Airport

Terminal Modernization Project, Series 2019B, (AMT)

.000

03/01/54

13,738,265

1,000,000

Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis

International Airport, Series 2017C - AGM Insured

.000

07/01/47

1,002,219

2,835,000

Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis

International Airport, Series 2017D - AGM Insured, (AMT)

.000

07/01/34

2,882,620

1,000,000

Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis

International Airport, Series 2017D - AGM Insured, (AMT)

.000

07/01/37

1,008,876

2,000,000

Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis

International Airport, Series 2023A

.000

07/01/52

1,997,575

Portfolio of Investments August 31, 2025

(continued)

Missouri

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

3,000,000

Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis

International Airport, Series 2024A - AGM Insured

.250

%

07/01/49

$

3,096,030

5,480,000

Saint Louis, Missouri, Airport Revenue Bonds, Lambert-St. Louis

International Airport, Series 2024A - AGM Insured

.250

07/01/54

5,623,896

TOTAL TRANSPORTATION

38,877,571

U.S. GUARANTEED - 0.1% (c)

530,000

Jackson County Center School District 58, Missouri, General

Obligation Bonds, Refunding & School Building Series 2019A,

(Pre-refunded 3/01/27)

.000

03/01/38

542,203

TOTAL U.S. GUARANTEED

542,203

UTILITIES - 16.5%

670,000

Camden County Public Water Supply District 4, Missouri,

Certificates of Participation, Series 2017

.500

01/01/32

659,404

720,000

Camden County Public Water Supply District 4, Missouri,

Certificates of Participation, Series 2017

.000

01/01/42

630,713

1,670,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2016

.000

01/01/46

1,632,666

145,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2020A

.000

01/01/50

138,360

1,865,000

Kansas City, Missouri, Sanitary Sewer System Revenue Bonds,

Improvement Series 2018A

.000

01/01/37

1,869,743

1,000,000

Kansas City, Missouri, Sanitary Sewer System Revenue Bonds,

Improvement Series 2018A

.000

01/01/38

994,184

1,650,000

Kansas City, Missouri, Sanitary Sewer System Revenue Bonds,

Improvement Series 2023A

.000

01/01/48

1,457,179

6,745,000

Kansas City, Missouri, Water Revenue Bonds, Series 2024A

.000

12/01/48

6,908,665

2,855,000

Kansas City, Missouri, Water Revenue Bonds, Series 2025A

.000

12/01/49

2,909,843

10,005,000

Metropolitan St. Louis Sewerage District, Missouri, Wastewater

System Revenue Bonds, Refunding & Improvement Series 2017A

.000

05/01/47

10,017,901

5,875,000

Metropolitan St. Louis Sewerage District, Missouri, Wastewater

System Revenue Bonds, Refunding Improvement Series 2022B

.000

05/01/47

6,027,154

1,465,000

Metropolitan St. Louis Sewerage District, Missouri, Wastewater

System Revenue Bonds, Refunding Improvement Series 2022B

.250

05/01/52

1,507,668

2,675,000

Metropolitan St. Louis Sewerage District, Missouri, Wastewater

System Revenue Bonds, Series 2019B

.000

05/01/49

2,680,863

2,740,000

Metropolitan St. Louis Sewerage District, Missouri, Wastewater

System Revenue Bonds, Series 2020B

.000

05/01/47

2,763,151

5,385,000

Metropolitan St. Louis Sewerage District, Missouri, Wastewater

System Revenue Bonds, Series 2020B

.000

05/01/49

5,408,665

5,980,000

Metropolitan St. Louis Sewerage District, Missouri, Wastewater

System Revenue Bonds, Series 2023A

.000

05/01/39

6,429,665

2,500,000

Missouri Development Finance Board, Infrastructure Facilities

Revenue Bonds, City of Independence Annual Appropriation

Electric System, Refunding Series 2022 - AGM Insured

.000

06/01/34

2,719,247

4,850,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Refunding Series 1998A

.900

09/01/33

4,421,192

1,000,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998B

.900

09/01/33

911,586

1,845,000

Missouri Environmental Improvement and Energy Resources

Authority, Revenue Bonds, Union Electric Company Project,

Series 1998C

.750

09/01/33

1,670,371

245,000

Missouri Joint Municipal Electric Utility Commission, Power

Project Revenue Bonds, Pairie State Power Project, Refunding

Series 2016A - BAM Insured

.000

12/01/35

245,121

2,500,000

Missouri Joint Municipal Electric Utility Commission, Power

Project Revenue Bonds, Plum Point Project, Refunding Series

2015A

.000

01/01/35

2,483,868

1,000,000

Missouri Joint Municipal Electric Utility Commission, Power

Supply System Revenue Bonds, Gree Bonds, MoPEP Facilities,

Series 2022

.250

12/01/42

1,052,036

3,500,000

Missouri Joint Municipal Electric Utility Commission, Power

Supply System Revenue Bonds, MoPEP Facilities, Series 2018

.000

12/01/43

3,506,150

Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and in conformity with the

applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") related to interim filings. Part F of Form N-PORT does not

include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in

financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For

a full set of the Fund's notes to financial statements, please refer to the Fund's most recently filed annual or semi-annual report.

Fair Value Measurements

The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/

Trustees. 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

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

605,000

(a) Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds,

Refunding Senior Lien Series 2020A

.000

%

07/01/47

$

565,968

6,200,000

Saint Charles County Public Water Supply District 2, Missouri,

Certificates of Participation, Missouri Project, Series 2022

.000

12/01/44

6,279,751

4,000,000

Saint Charles County Public Water Supply District 2, Missouri,

Certificates of Participation, Missouri Project, Series 2024

.250

12/01/46

4,162,807

2,500,000

Stone County Public Water Supply District 2, Missouri,

Certificates of Participation, Series 2021B

.000

12/01/51

1,950,921

TOTAL UTILITIES

82,004,842

TOTAL MUNICIPAL BONDS

(Cost $499,336,750)

478,827,782

TOTAL LONG-TERM INVESTMENTS

(Cost $499,336,750)

478,827,782

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM INVESTMENTS - 1.8%

X

8,810,000

MUNICIPAL BONDS - 1.8%

X

–

EDUCATION AND CIVIC ORGANIZATIONS - 1.8%

$

3,810,000

(d),(e)

Missouri Health and Educational Facilities Authority, Revenue

Bonds, St. Louis University, Variable Rate Demand Obligations,

Series 2008B-2

.750

10/01/35

$

3,810,000

1,200,000

(d),(e)

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Washington University, Variable Rate Demand

Obligations, Series 2000B

.800

03/01/40

1,200,000

3,800,000

(d),(e)

Missouri Health and Educational Facilities Authority, Revenue

Bonds, Washington University, Variable Rate Demand

Obligations, Series 2000C

.750

03/01/40

3,800,000

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

8,810,000

TOTAL MUNICIPAL BONDS

(Cost $8,810,000)

8,810,000

TOTAL SHORT-TERM INVESTMENTS

(Cost $8,810,000)

8,810,000

TOTAL INVESTMENTS - 98.3%

(Cost $508,146,750)

487,637,782

OTHER ASSETS & LIABILITIES, NET - 1.7%

8,622,346

NET ASSETS - 100%

$

496,260,128

AMT

Alternative Minimum Tax

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

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

As of the end of the reporting period, the aggregate value of these securities is $8,508,463 or 1.7% of Total Investments.

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

bankruptcy.

(c) 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.

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

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

(e) Investment has a maturity of greater than one year, but has variable rate and/or demand features which qualify it as a short-term

investment. The rate disclosed, as well as the reference rate and spread, where applicable, is that in effect as of the end of the

reporting period. This rate changes periodically based on market conditions or a specified market index.

Portfolio of Investments August 31, 2025

(continued)

Missouri

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).

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

them:

Missouri

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

478,827,782

$

–

$

478,827,782

Short-Term Investments:

Municipal Bonds

–

8,810,000

–

8,810,000

Total

$

–

$

487,637,782

$

–

$

487,637,782

Portfolio of Investments August 31, 2025

Ohio

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 96.7%

X

431,839,077

MUNICIPAL BONDS - 96.7%

X

–

CONSUMER DISCRETIONARY - 1.8%

$

1,430,000

Franklin County Convention Facilities Authority, Ohio, Hotel

Project Revenue Bonds, Greater Columbus Convention Center

Hotel Expansion Project, Series 2019

.000

%

12/01/39

$

1,382,297

2,150,000

Franklin County Convention Facilities Authority, Ohio, Hotel

Project Revenue Bonds, Greater Columbus Convention Center

Hotel Expansion Project, Series 2019

.000

12/01/44

1,980,887

5,570,000

Franklin County Convention Facilities Authority, Ohio, Hotel

Project Revenue Bonds, Greater Columbus Convention Center

Hotel Expansion Project, Series 2019

.000

12/01/51

4,864,794

TOTAL CONSUMER DISCRETIONARY

8,227,978

CONSUMER STAPLES - 3.6%

1,460,000

Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco

Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien

Series 2020A-2 Class 1

.000

06/01/48

1,177,616

18,115,000

Buckeye Tobacco Settlement Financing Authority, Ohio, Tobacco

Settlement Asset-Backed Revenue Bonds, Refunding Senior Lien

Series 2020B-2 Class 2

.000

06/01/55

14,656,999

TOTAL CONSUMER STAPLES

15,834,615

EDUCATION AND CIVIC ORGANIZATIONS - 10.9%

705,000

Allen County Port Authority Economic Development, Ohio,

Revenue Bonds, University of Northwestern, Refunding Series

2021A

.000

12/01/31

692,829

2,065,000

Bowling Green State University, Ohio, General Receipts Bonds,

Series 2016A

.000

06/01/34

2,072,681

1,320,000

Hamilton County, Ohio, Economic Development Revenue Bonds,

King Highland Community Urban Redevelopment Corporation

- University of Cincinnati, Lessee Project, Refunding Series 2015

- BAM Insured

.000

06/01/32

1,321,813

2,680,000

Hamilton County, Ohio, Economic Development Revenue Bonds,

King Highland Community Urban Redevelopment Corporation

- University of Cincinnati, Lessee Project, Refunding Series 2015

- BAM Insured

.000

06/01/35

2,682,962

1,520,000

Kent State University, Ohio, General Receipts Bonds, Series

2020A

.000

05/01/50

1,510,205

880,000

Miami University of Ohio, General Receipts Revenue Bonds,

Refunding Series 2017

.000

09/01/35

893,093

2,695,000

Miami University of Ohio, General Receipts Revenue Bonds,

Refunding Series 2017

.000

09/01/41

2,721,900

2,420,000

Miami University of Ohio, General Receipts Revenue Bonds,

Refunding Series 2020A

.000

09/01/40

2,353,675

1,000,000

Miami University of Ohio, General Receipts Revenue Bonds,

Refunding Series 2024A

.000

09/01/38

1,081,341

125,000

Northeast Ohio Medical University, General Receipts Bonds,

Refunding Series 2021A

.000

12/01/28

131,738

150,000

Northeast Ohio Medical University, General Receipts Bonds,

Refunding Series 2021A

.000

12/01/30

160,500

570,000

Northeast Ohio Medical University, General Receipts Bonds,

Refunding Series 2021B - BAM Insured

.000

12/01/38

535,903

600,000

Northeast Ohio Medical University, General Receipts Bonds,

Refunding Series 2021B - BAM Insured

.000

12/01/39

551,779

610,000

Northeast Ohio Medical University, General Receipts Bonds,

Refunding Series 2021B - BAM Insured

.000

12/01/40

549,757

1,260,000

Northeast Ohio Medical University, General Receipts Bonds,

Refunding Series 2021B - BAM Insured

.000

12/01/41

1,113,949

1,330,000

Northeast Ohio Medical University, General Receipts Bonds,

Series 2022 - BAM Insured

.000

12/01/41

1,341,653

2,100,000

Ohio Higher Education Facilities Commission, Revenue Bonds,

Denison University Project, Series 2017A

.000

11/01/42

2,104,338

1,500,000

Ohio Higher Education Facilities Commission, Revenue Bonds,

Denison University Project, Series 2017A

.250

11/01/46

1,503,088

Portfolio of Investments August 31, 2025

(continued)

Ohio

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

1,000,000

Ohio Higher Educational Facility Commission, Higher

Educational Facility Revenue Bonds, John Carroll University 2020

Project, Series 2020

.000

%

10/01/50

$

757,864

3,750,000

Ohio Higher Educational Facility Commission, Higher

Educational Facility Revenue Bonds, John Carroll University 2022

Project, Series 2022

.000

10/01/42

3,091,983

3,750,000

Ohio Higher Educational Facility Commission, Higher

Educational Facility Revenue Bonds, John Carroll University 2022

Project, Series 2022

.000

10/01/47

2,924,003

3,830,000

Ohio Higher Educational Facility Commission, Revenue Bonds,

Denison University Project, Series 2023

.000

11/01/53

3,842,795

3,895,000

Ohio Higher Educational Facility Commission, Revenue Bonds,

Kenyon College, Series 2016

.000

07/01/42

3,906,212

1,000,000

Ohio Higher Educational Facility Commission, Revenue Bonds,

Otterbein University 2022 Project, Series 2022A

.000

12/01/46

793,532

500,000

Ohio Higher Educational Facility Commission, Revenue Bonds,

University of Dayton Project, Series 2025

.000

02/01/42

518,165

1,120,000

Shawnee State University, Ohio, General Receipts Bonds, Series

2016 - BAM Insured

.000

06/01/28

1,138,220

1,180,000

Shawnee State University, Ohio, General Receipts Bonds, Series

2016 - BAM Insured

.000

06/01/29

1,198,669

1,000,000

Tuscarawas County Economic Development and Finance

Alliance, Ohio, Higher Education Facilities Revenue Bonds,

Ashland University, Refunding & Improvement Series 2015

.000

03/01/45

933,603

2,835,000

University of Cincinnati, Ohio, General Receipts Bonds, Series

2017A

.000

06/01/45

2,839,230

1,065,000

University of Cincinnati, Ohio, General Receipts Bonds, Series

2025A

.250

06/01/43

1,120,863

1,000,000

Wright State University, Ohio, General Receipts Bonds,

Refunding Series 2021A - BAM Insured

.000

05/01/31

1,106,652

1,025,000

Youngstown State University, Ohio, General Receipts Bonds,

Series 2021 - AGM Insured

.000

12/15/30

1,080,722

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

48,575,717

HEALTH CARE - 10.6%

1,000,000

Allen County, Ohio, Hospital Facilities Revenue Bonds, Bon

Secours Mercy Health, Inc., Series 2025A

.000

11/01/40

1,049,099

2,500,000

Allen County, Ohio, Hospital Facilities Revenue Bonds, Mercy

Health, Series 2017A

.000

08/01/42

2,507,337

3,710,000

Chillicothe, Ohio, Hospital Facilities Revenue Bonds, Adena

Health System Obligated Group Project, Refunding &

Improvement Series 2017

.000

12/01/37

3,747,173

2,000,000

Cuyahoga County, Ohio, Hospital Revenue Bonds, MetroHealth

System, Series 2017

.500

02/15/52

1,909,463

1,600,000

Fairfield County, Ohio, Hospital Facilities Revenue Bonds,

Fairfield Medical Center Project, Series 2013

.000

06/15/43

1,327,157

495,000

Fairfield County, Ohio, Hospital Facilities Revenue Bonds,

Fairfield Medical Center Project, Series 2013

.250

06/15/43

423,385

1,000,000

Franklin County, Ohio, Hospital Revenue Bonds, Nationwide

Children's Hospital Project, Taxable Improvement Series 2019A

.000

11/01/48

1,024,950

1,000,000

Franklin County, Ohio, Revenue Bonds, Trinity Health Credit

Group, Series 2017OH

.000

12/01/46

860,100

2,255,000

Franklin County, Ohio, Revenue Bonds, Trinity Health Credit

Group, Series 2017OH

.000

12/01/46

2,214,558

600,000

Hamilton County, Ohio, Hospital Facilities Revenue Bonds,

Cincinnati Children's Hospital Medical Center, Series 2019CC

.000

11/15/41

641,798

2,230,000

Miami County, Ohio, Hospital Facilities Revenue Bonds,

Kettering Health Network Obligated Group Project, Refunding &

Improvement Series 2019

.000

08/01/39

2,259,786

250,000

Montgomery County, Ohio, Health Care Facilities Revenue

Bonds, Solvita Project Refunding and Improvement Series 2024

.250

09/01/54

246,358

3,000,000

Muskingum County, Ohio, Hospital Facilities Revenue Bonds,

Genesis HealthCare System Obligated Group Project, Series

2013

.000

02/15/44

2,764,848

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

1,900,000

Ohio State, Hospital Facility Revenue Bonds, Cleveland Clinic

Health System Obligated Group, Series 2019B

.000

%

01/01/42

$

1,769,334

5,000,000

Ohio State, Hospital Facility Revenue Bonds, Cleveland Clinic

Health System Obligated Group, Series 2019B

.000

01/01/43

4,584,426

6,135,000

Ohio State, Hospital Facility Revenue Bonds, Cleveland Clinic

Health System Obligated Group, Series 2019B

.000

01/01/46

5,318,197

1,000,000

Ohio State, Hospital Revenue Bonds, Children's Hospital Medical

Center of Akron, Series 2024A

.250

08/15/48

1,036,455

1,155,000

Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health

System Obligated Group, Refunding Series 2017A

.000

01/01/30

1,216,365

2,755,000

Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health

System Obligated Group, Refunding Series 2017A

.000

01/01/33

2,872,245

2,930,000

Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health

System Obligated Group, Series 2024A

.000

01/01/35

3,288,740

1,970,000

Ohio State, Hospital Revenue Bonds, University Hospitals Health

System, Inc., Fixed Interest Rate Series 2020A

.000

01/15/50

1,867,622

2,725,000

Ohio State, Hospital Revenue Bonds, University Hospitals Health

System, Inc., Fixed Interest Rate Series 2020A - BAM Insured

.000

01/15/50

2,659,950

1,630,000

Scioto County, Ohio, Hospital Facilities Revenue Bonds, Southern

Ohio Medical Center, Refunding Series 2016

.000

02/15/32

1,639,944

TOTAL HEALTH CARE

47,229,290

HOUSING/MULTIFAMILY - 0.7%

3,000,000

Columbus Metropolitan Housing Authority, Ohio, General

Revenue Bonds, Series 2021

.000

08/01/36

2,963,337

TOTAL HOUSING/MULTIFAMILY

2,963,337

INDUSTRIALS - 0.2%

1,000,000

Dayton-Montgomery County Port Authority, Ohio, Development

Revenue Bonds, Dayton Regional Stem Schools Inc. Project,

Series 2024

.000

12/01/54

930,422

TOTAL INDUSTRIALS

930,422

LONG-TERM CARE - 0.8%

2,000,000

Greene County Port Authority, Ohio, Economic Facilities

Development Revenue Bonds, Community First Solutions

Obligated Group Refunding and Improvement Series 2024B

.000

05/15/59

1,780,290

500,000

(a) Ohio Housing Finance Agency, Multifamily Housing Revenue

Bonds, Silver Birch of Mansfield Project, Series 2024

.000

01/01/45

464,304

500,000

(a) Port of Greater Cincinnati Development Authority, Ohio,

Multifamily Housing Revenue Bonds, Vivera Northbrook Project,

Series 2025A

.500

01/01/45

501,702

1,000,000

Warren County, Ohio, Healthcare Facilities Revenue Bonds,

Otterbein Homes Obligated Group, Refunding & Improvements

Series 2024

.000

07/01/54

939,095

TOTAL LONG-TERM CARE

3,685,391

TAX OBLIGATION/GENERAL - 21.9%

3,150,000

Apollo Career Center Joint Vocational School District, Allen,

Auglaize, Hardin, Hancock, Putnam & Van Wert Counties, Ohio,

General Obligation Bonds, Various Purpose School Improvement

Refunding Series 2017

.000

12/01/41

3,204,767

5,185,000

Brunswick City School District, Medina County, Ohio, General

Obligation Bonds, Classroom Facilities School Improvement

Series 2023 - BAM Insured

.250

12/01/53

5,271,584

1,180,000

Canal Winchester Local School District, Franklin and Fairfield

Counties, Ohio, General Obligation Bonds, Series 2005B - NPFG

Insured

.000

12/01/33

868,773

380,000

Cincinnati City School District, Hamilton County, Ohio, General

Obligation Bonds, Refunding Classroom Facilities Construction &

Improvement Series 2006 - FGIC Insured

.250

12/01/27

404,890

2,250,000

City of Mayfield Heights, Ohio, General Obligation Bonds,

Aquatic and Community Center Limited Tax Series 2023

.000

12/01/48

1,953,869

135,000

Cleveland, Ohio, General Obligation Bonds, Various Purpose

Series 2023A

.000

12/01/41

141,378

300,000

Cleveland, Ohio, General Obligation Bonds, Various Purpose

Series 2023A

.000

12/01/43

311,355

Portfolio of Investments August 31, 2025

(continued)

Ohio

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

1,000,000

Colerain Township, Hamilton County, Ohio, General Obligation

Bonds, Fire Station Series 2022

.250

%

12/01/52

$

1,013,174

5,000,000

Columbus, Ohio, General Obligation Bonds, Various Purpose

Series 2018A

.000

04/01/29

5,383,828

2,000,000

Columbus, Ohio, General Obligation Bonds, Various Purpose

Series 2021A

.000

04/01/38

2,113,235

5,000,000

Dublin City School District, Franklin, Delaware and Union

Counties, Ohio, General Obligation Bonds, School Facilities

Construction & Improvement Series 2019A

.000

12/01/44

4,551,759

4,200,000

Dublin City School District, Franklin, Delaware and Union

Counties, Ohio, General Obligation Bonds, Series 2024B

.000

12/01/53

4,287,506

2,000,000

Ehove Joint Vocational School District, Erie County, Ohio,

General Obligation Bonds, School Improvement Series 2025

.500

12/01/55

2,056,513

2,500,000

Fairborn City School District, Greene County, Ohio, General

Obligation Bonds, School Facilities Construction & Improvement

Series 2021A - BAM Insured

.000

12/01/50

2,167,702

4,225,000

Franklin County, Ohio, General Obligation Bonds, Refunding

Series 2015

.000

12/01/31

4,245,985

500,000

Graham Local School District, Champaign and Shelby Counties,

Ohio, General Obligation Bonds, School Improvement Series

2013

.000

12/01/29

437,739

850,000

Graham Local School District, Champaign and Shelby Counties,

Ohio, General Obligation Bonds, School Improvement Series

2013

.000

12/01/30

714,173

1,980,000

Grandview Heights City School District, Franklin County, Ohio,

General Obligation Bonds, School Facilities Construction &

Improvement Series 2019

.000

12/01/51

1,712,920

2,595,000

Hilliard City School District, Franklin County, Ohio, General

Obligation Bonds, School Improvement Series 2017

.000

12/01/46

2,291,934

1,095,000

Kenston Local School District, Geauga County, Ohio, General

Obligation Bonds, School improvement Series 2012

.000

12/01/27

1,027,459

1,560,000

Kettering City School District, Montgomery County, Ohio,

General Obligation Bonds, Refunding Series 2007 - AGM Insured

.250

12/01/31

1,659,793

1,000,000

Little Miami Local School District, Warren and Clermont Counties,

Ohio, General Obligation Bonds, School Improvement Series

2018A

.000

11/01/43

1,000,162

500,000

Medina County, Ohio, General Obligation Bonds, Courthouse

Facility Improvement Limited Tax Series 2021

.000

12/01/46

438,853

1,000,000

Middletown City School District, Butler County, Ohio, General

Obligation Bonds, Refunding Series 2007 - AGM Insured

.250

12/01/28

1,079,493

500,000

Milford Exempted Village School District, Ohio, General

Obligation Bonds, Refunding Improvement Series 2025

.000

12/01/34

553,006

5,000,000

Muskingum County, Ohio, General Obligation Bonds, Limited

Tax Capital Facilities Improvement Series 2024

.000

12/01/54

4,322,692

2,030,000

North Olmsted City School District, Ohio, General Obligation

Bonds, School Improvement Programmatic Series 2023A

.000

10/15/48

2,044,877

3,995,000

North Olmsted City School District, Ohio, General Obligation

Bonds, School Improvement Programmatic Series 2023A

.250

10/15/56

4,056,864

3,805,000

Oakwood City School District, Montgomery County, Ohio,

General Obligation Bonds, Series 2019

.000

12/01/48

3,308,509

6,500,000

Ohio State, General Obligation Bonds, Common Schools Series

2019A

.000

06/15/37

6,799,412

2,315,000

Ohio State, General Obligation Bonds, Highway Capital

Improvement, Series 2020W

.000

05/01/35

2,485,315

1,000,000

Ohio State, General Obligation Bonds, Infrastructure

Improvement Series 2022A

.000

03/01/39

1,072,795

1,470,000

Ohio State, General Obligation Bonds, Infrastructure

Improvement Series 2022A

.000

03/01/40

1,561,750

4,250,000

Pickerington Local School District, Fairfield and Franklin

Counties, Ohio, General Obligation Bonds, School Facilities

Construction & Improvement, Series 2023

.250

12/01/59

4,362,973

30,000

Princeton City School District, Hamilton County, Ohio, Certificates

of Participation, Series 2013

.000

12/01/33

30,041

375,000

Salem City School District, Columbiana County, Ohio, General

Obligation Bonds, School Facilities Series 2024

.000

11/01/44

381,877

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

2,000,000

Shaker Heights City School District, Ohio, General Obligation

Bonds, School Facilities Improvement Series 2024

.250

%

12/15/59

$

2,049,345

2,380,000

Southwest Local School District, Hamilton and Butler Counties,

Ohio, General Obligation Bonds, School Improvement Series

2018A

.000

01/15/55

2,016,403

4,000,000

South-Western City School District, Franklin and Pickaway

Counties, Ohio, General Obligation Bonds, School Facilities

Construction & Improvement Series 2019A - BAM Insured

.000

12/01/48

3,500,670

2,500,000

Toledo Lucas County Public Library, Ohio, General Obligation

Bonds, Library Improvement Series 2025A

.000

12/01/47

2,534,890

1,715,000

Troy City School District, Miami County, Ohio, General Obligation

Bonds, School Improvement Series 2024

.000

12/01/54

1,731,077

1,575,000

Wadsworth City School District, Medina County, Ohio, General

Obligation Bonds, School Improvement Series 2021

.000

12/01/56

1,314,108

5,000,000

Worthington City School District, Franklin County, Ohio, General

Obligation Bonds, Facilities Series 2023

.500

12/01/54

5,214,949

TOTAL TAX OBLIGATION/GENERAL

97,680,397

TAX OBLIGATION/LIMITED - 22.8%

290,000

Blue Ash, Ohio, Tax Increment Financing Revenue Bonds, Duke

Realty Ohio, Series 2006

.000

12/01/25

290,595

1,165,000

Blue Ash, Ohio, Tax Increment Financing Revenue Bonds, Duke

Realty Ohio, Series 2006

.000

12/01/30

1,165,041

1,890,000

Blue Ash, Ohio, Tax Increment Financing Revenue Bonds, Duke

Realty Ohio, Series 2006

.000

12/01/35

1,833,000

5,500,000

Cleveland Public Library, Cuyahoga County, Ohio, Library

Facilities Notes, Series 2019A

.000

12/01/45

4,966,075

1,250,000

Cleveland, Ohio, Income Tax Revenue Bonds, Bridges &

Roadways Improvements, Subordinate Lien Series 2017B-2

.000

10/01/31

1,321,819

1,000,000

Cleveland, Ohio, Income Tax Revenue Bonds, Bridges &

Roadways Improvements, Subordinate Lien Series 2017B-2

.000

10/01/32

1,053,617

950,000

Columbus-Franklin County Finance Authority, Ohio,

Development Revenue Bonds, Central Ohio Regional Bond

Fund, Toledo Museum of Art Project Series 2024A

.000

11/15/54

910,621

1,195,000

(a) Columbus-Franklin County Finance Authority, Ohio, Revenue

Bonds, Bridge Park G Block Project, Public Infrastructure Series

2022

.000

12/01/34

1,223,142

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

464,833

765,000

(a) Columbus-Franklin County Finance Authority, Ohio, Tax

Increment Financing Revenue Bonds, Easton Project, Series 2020

.000

06/01/28

775,053

4,600,000

Cuyahoga County, Ohio, Certificates of Participation, Convention

Hotel Project, Series 2024

.000

12/01/41

4,135,827

4,000,000

Cuyahoga County, Ohio, Sales Tax Revenue Bonds, Ballpark

Improvement Project, Series 2022A

.000

01/01/36

4,080,082

1,000,000

Cuyahoga County, Ohio, Sales Tax Revenue Bonds, Refunding

Various Purpose Series 2014

.000

12/01/28

1,001,779

2,940,000

Dublin, Ohio, Special Obligation Non-Tax Revenue Bonds, Series

2015A

.000

12/01/38

2,957,833

1,000,000

Franklin County, Ohio, Sales Tax Revenue Bonds, Various Purpose

Series 2018

.000

06/01/37

1,031,130

8,000,000

Franklin County, Ohio, Sales Tax Revenue Bonds, Various Purpose

Series 2018

.000

06/01/43

8,072,096

6,310,000

Franklin County, Ohio, Sales Tax Revenue Bonds, Various Purpose

Series 2018

.000

06/01/48

6,322,986

1,220,000

Great Oaks Career Campuses Board of Education, Brown,

Butler, Clermont, Clinton, Fayette, Greene, Hamilton, Highland,

Madison, Pickaway, Ross and Warren, Ohio, Certificates of

Participation, School Improvement Project, Series 2021

.000

12/01/37

1,221,590

1,675,000

Greater Cleveland Regional Transit Authority, Ohio, Sales Tax

Supported Capital Improvement Bonds, Refunding Series 2014A

.000

12/01/25

1,685,370

500,000

Hamilton County, Ohio, Sales Tax Bonds, Subordinate Series

2000B - AMBAC Insured

.000

12/01/26

482,679

Portfolio of Investments August 31, 2025

(continued)

Ohio

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

3,300,000

Hamilton County, Ohio, Sales Tax Bonds, Subordinate Series

2000B - AMBAC Insured

.000

%

12/01/28

$

2,998,125

1,750,000

Hamilton County, Ohio, Sales Tax Bonds, Subordinate Series

2000B - AGM Insured

.000

12/01/28

1,589,914

2,465,000

Hillsdale Local School District, Ashland and Wayne Counties,

Ohio, Certificates of Participation, School Facilities Project Series

2020 - BAM Insured

.000

12/01/38

2,404,108

5,000,000

JobsOhio Beverage System, Ohio, Statewide Liquor Profits

Revenue Bonds, Taxable Refunding Senior Lien Series 2020A

.833

01/01/38

4,141,692

435,000

Mayfield City School District, Ohio, Certificates of Participation,

Middle School Project, Series 2009B

.000

09/01/27

410,684

855,000

Mayfield City School District, Ohio, Certificates of Participation,

Middle School Project, Series 2009B

.000

09/01/28

782,912

1,020,000

Norwood, Hamilton County, Ohio, Special Obligation

Development Revenue Bonds, Central Parke Project, Series 2017

.000

12/01/46

1,007,049

1,250,000

Ohio State, Capital Facilities Lease-Appropriation Bonds, Adult

Correctional Building Fund Projects, Series 2017A

.000

10/01/36

1,285,919

1,200,000

Ohio State, Capital Facilities Lease-Appropriation Bonds, Parks &

Recreation Improvement Fund Projects, Series 2017A

.000

12/01/31

1,255,768

1,660,000

Ohio State, Certificates of Participation, Ohio Attorney General

Claims Fund Project, Series 2021

.000

09/01/35

1,704,297

1,360,000

Ohio State, Transportation Project Revenue Bonds, Toledo-

Lucas County Port Authority Seaport and Docks Project, State

Transportation Infrastructure GRF Bond Fund, Series 2019-2,

(AMT)

.000

11/15/39

1,375,470

2,095,000

Pickaway County, Ohio, Sales Tax Specia Obligation Bonds,

Series 2018

.000

12/01/44

2,110,974

2,000,000

Pinnacle Community Infrastructure Financing Authority, Grove

City, Ohio, Community Facilities Bonds, Series 2015A - AGM

Insured

.000

12/01/31

2,003,567

1,125,000

Port of Greater Cincinnati Development Authority, Ohio,

Development Revenue Bonds, Duke Energy Convention Center

Project - Transient Occupancy Tax, Refunding First Subordinate

Series 2024B

.000

12/01/44

1,137,725

1,850,000

Port of Greater Cincinnati Development Authority, Ohio,

Development Revenue Bonds, Duke Energy Convention Center

Project - Transient Occupancy Tax, Refunding First Subordinate

Series 2024B - AGM Insured

.250

12/01/48

1,658,660

2,375,000

Port of Greater Cincinnati Development Authority, Ohio,

Development Revenue Bonds, Duke Energy Convention Center

Project - Transient Occupancy Tax, Refunding First Subordinate

Series 2024B

.000

12/01/63

2,262,303

1,540,000

Port of Greater Cincinnati Development Authority, Ohio,

Development Revenue Bonds, Duke Energy Convention Center

Project - Transient Occupancy Tax, Refunding Senior Series

2024A

.000

12/01/53

1,544,339

735,000

(a) Port of Greater Cincinnati Development Authority, Ohio, Public

Improvement TOT Revenue Bonds, Series 2021

.250

12/01/50

641,238

480,000

Port of Greater Cincinnati Development Authority, Ohio, Special

Obligation Development TIF Revenue Bonds, RBM Development

- Phase 2B Project, Series 2018A

.000

12/01/50

461,920

980,000

Port of Greater Cincinnati Development Authority, Ohio, Special

Obligation Tax Increment Financing Revenue Bonds, Cooperative

Township Public Parking Project, Gallery at Kenwood, Senior Lien

Series 2019A

.000

11/01/51

826,583

1,000,000

Port of Greater Cincinnati Development Authority, Ohio, Tax

Increment Financing Revenue Bonds, RBM Phase 3 Garage

Project Series 2024

.125

12/01/55

908,137

4,430,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/33

3,244,412

6,605,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.500

07/01/34

6,604,705

1,257,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/58

1,152,994

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

500,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured Cofina Project Series 2019A-2A

.550

%

07/01/40

$

477,187

4,915,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.329

07/01/40

4,558,379

160,000

Riversouth Authority, Ohio, Lazarus Building Redevelopment

Bonds, Series 2007A

.750

12/01/27

160,074

1,000,000

Riversouth Authority, Ohio, Scioto Peninsula Area

Redevelopment Bonds, Payable from City of Columbus, Ohio

Annual Rental Appropriations, Series 2016

.000

12/01/29

1,005,442

2,955,000

Shaker Heights Public Library, Ohio, Certificates of Participation,

Series 2019

.000

12/01/44

2,665,775

1,000,000

Tolles Career and Technical Center, Madison, Franklin, Delaware,

Fayette, and Union Counties, Ohio, Certificates of Participation,

School Facilities Project Series 2024

.250

12/01/53

1,012,720

2,395,000

Triway Local School District, Ohio, Certificates of Participation,

Series 2021 - BAM Insured

.000

12/01/41

2,213,195

1,460,000

Triway Local School District, Ohio, Certificates of Participation,

Series 2021 - BAM Insured

.000

12/01/42

1,330,990

TOTAL TAX OBLIGATION/LIMITED

101,932,425

TRANSPORTATION - 5.3%

3,750,000

Columbus Regional Airport Authority, Ohio, Revenue Bonds,

John Glenn Columbus International Airport, Series 2025A, (AMT)

.500

01/01/50

3,839,562

750,000

Ohio Higher Educational Facility Commission, Senior Hospital

Parking Revenue Bonds, University Circle Incorporated 2020

Project, Series 2020

.000

01/15/50

722,470

3,500,000

Ohio State, Private Activity Bonds, Portsmouth Gateway Group,

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

Insured, (AMT)

.000

12/31/35

3,501,408

3,615,000

Ohio State, Private Activity Bonds, Portsmouth Gateway Group,

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

Insured, (AMT)

.000

12/31/39

3,591,610

9,355,000

Ohio State, Private Activity Bonds, Portsmouth Gateway Group,

LLC - Borrower, Portsmouth Bypass Project, Series 2015, (AMT)

.000

06/30/53

8,667,345

2,000,000

Ohio State, Turnpike Revenue Bonds, Ohio Turnpike and

Infrastructure Commission, Infrastructure Projects, Junior Lien

Series 2018A

.000

02/15/46

1,766,433

2,000,000

Toledo-Lucas County Port Authority Parking System, Ohio,

Revenue Bonds, University of Toledo Parking Project Series 2021

.000

01/01/57

1,473,544

TOTAL TRANSPORTATION

23,562,372

U.S. GUARANTEED - 2.3% (b)

4,310,000

Cincinnati, Ohio, Water System Revenue Bonds, Series 2016A,

(Pre-refunded 12/01/26)

.000

12/01/41

4,452,830

40,000

Columbus City School District, Franklin County, Ohio,

General Obligation Bonds, School Facilities Construction and

Improvement, Refunding Series 2006 - AGM Insured, (ETM)

.000

12/01/28

36,668

1,050,000

Greater Cleveland Regional Transit Authority, Ohio, Sales Tax

Supported Capital Improvement Bonds, Refunding Series 2015,

(Pre-refunded 12/01/25)

.000

12/01/32

1,056,737

1,105,000

Greater Cleveland Regional Transit Authority, Ohio, Sales Tax

Supported Capital Improvement Bonds, Refunding Series 2015,

(Pre-refunded 12/01/25)

.000

12/01/33

1,112,090

365,000

Ohio State, Hospital Facility Revenue Bonds, Cleveland Clinic

Health System Obligated Group, Series 2019B, (Pre-refunded

1/01/29)

.000

01/01/46

383,199

70,000

Ohio State, Hospital Revenue Bonds, Cleveland Clinic Health

System Obligated Group, Series 2024A, (Pre-refunded 10/01/34)

.000

01/01/35

79,440

1,000,000

Upper Arlington City School District, Franklin County, Ohio,

General Obligation Bonds, School Facilities & Improvement

Series 2018A, (Pre-refunded 12/01/27)

.000

12/01/48

1,061,184

2,275,000

Willoughby-Eastlake City School District, Ohio, General

Obligation Bonds, School Improvement Series 2016, (Pre-

refunded 12/01/25)

.000

12/01/46

2,288,799

TOTAL U.S. GUARANTEED

10,470,947

Portfolio of Investments August 31, 2025

(continued)

Ohio

Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and in conformity with the

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES - 15.8%

$

3,570,000

American Municipal Power Inc., Ohio, Combined Hydroelectric

Projects Revenue Bonds, Green Series 2016A

.000

%

02/15/46

$

3,573,157

2,000,000

American Municipal Power Inc., Ohio, Fremont Energy Center

Revenue Bonds, Refunding Series 2017A

.000

02/15/42

1,800,246

2,930,000

American Municipal Power, Inc., Ohio, Greenup Hydroelectric

Project Revenue Bonds, Series 2016A

.000

02/15/41

2,934,155

1,665,000

American Municipal Power, Inc., Ohio, Solar Electricity

Prepayment Project Revenue Bonds, Green Bonds Series 2019A

.000

02/15/44

1,676,133

1,315,000

Cleveland, Ohio, Public Power System Revenue Bonds,

Refunding Series 2018 - AGM Insured

.000

11/15/37

1,360,022

1,600,000

Cleveland, Ohio, Public Power System Revenue Bonds,

Refunding Series 2020A - AGM Insured

.000

11/15/38

1,562,866

2,000,000

Cleveland, Ohio, Public Power System Revenue Bonds, Series

2008B-1 - NPFG Insured

.000

11/15/33

1,443,879

4,740,000

Cleveland, Ohio, Public Power System Revenue Bonds, Series

2008B-2 - NPFG Insured

.000

11/15/34

3,242,005

7,500,000

Cleveland, Ohio, Public Power System Revenue Bonds, Series

2008B-2 - NPFG Insured

.000

11/15/38

3,908,908

5,000,000

Columbus, Ohio, Sewerage System Revenue Bonds, Refunding

Series 2015

.000

06/01/29

5,084,701

6,750,000

Columbus, Ohio, Sewerage System Revenue Bonds, Refunding

Series 2015

.000

06/01/32

6,854,275

865,000

Hamilton, Ohio, Electric System Revenue Bonds, Refunding &

Improvement Series 2019 - BAM Insured

.000

10/01/37

858,804

1,015,000

Hamilton, Ohio, Electric System Revenue Bonds, Refunding &

Improvement Series 2019 - BAM Insured

.000

10/01/39

963,639

1,000,000

Mahoning County, Ohio, Sewer System Revenue Bonds,

Refunding and Improvement Series 2022

.000

12/01/42

1,016,418

1,000,000

Marysville, Ohio, Water System Mortgage Revenue Bonds,

Refunding Series 2016

.000

12/01/38

980,264

5,275,000

Northeast Ohio Regional Sewer District, Wastewater

Improvement Revenue Bonds, Refunding & Improvement Series

2017

.000

11/15/43

4,794,992

2,500,000

Ohio Water Development Authority, Revenue Bonds, Drinking

Water Assistance Fund, Series 2025A

.250

12/01/45

2,642,518

3,800,000

Ohio Water Development Authority, Revenue Bonds, Fresh Water

Development, Series 2019

.000

12/01/38

3,955,844

4,320,000

Ohio Water Development Authority, Revenue Bonds, Fresh Water

Development, Series 2019

.000

06/01/44

4,370,147

4,040,000

Ohio Water Development Authority, Revenue Bonds, Fresh Water

Development, Series 2021

.000

06/01/46

4,112,986

5,000,000

Ohio Water Development Authority, Water Pollution Control

Loan Fund Revenue Bonds, Refunding Series 2019B

.000

12/01/44

5,057,014

8,500,000

Ohio Water Development Authority, Water Pollution Control

Loan Fund Revenue Bonds, Series 2020A

.000

12/01/50

8,553,213

TOTAL UTILITIES

70,746,186

TOTAL MUNICIPAL BONDS

(Cost $450,485,664)

431,839,077

TOTAL LONG-TERM INVESTMENTS

(Cost $450,485,664)

431,839,077

OTHER ASSETS & LIABILITIES, NET - 3.3%

14,918,847

NET ASSETS - 100%

$

446,757,924

AMT

Alternative Minimum Tax

ETM

Escrowed to maturity

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

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

As of the end of the reporting period, the aggregate value of these securities is $3,605,439 or 0.8% of Total Investments.

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

payment of principal and interest.

applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") related to interim filings. Part F of Form N-PORT does not

include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in

financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For

a full set of the Fund's notes to financial statements, please refer to the Fund's most recently filed annual or semi-annual report.

Fair Value Measurements

The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/

Trustees. 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).

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

them:

Ohio

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

431,839,077

$

–

$

431,839,077

Total

$

–

$

431,839,077

$

–

$

431,839,077

Portfolio of Investments August 31, 2025

Wisconsin

(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 102.5%

X

71,253,256

MUNICIPAL BONDS - 102.5%

X

–

CONSUMER DISCRETIONARY - 0.4%

$

250,000

International Falls, Minnesota, Solid Waste Disposal Revenue

Bonds, Boise Cascade Corporation Project, Refunding Series

1999, (AMT)

.850

%

12/01/29

$

250,573

TOTAL CONSUMER DISCRETIONARY

250,573

EDUCATION AND CIVIC ORGANIZATIONS - 5.2%

810,000

(a) Public Finance Authority, Wisconsin, Educational Revenue Bonds,

Lake Norman Charter School, Series 2018A

.000

06/15/28

813,028

500,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Hmong American Peace Academy, Series 2020

.000

03/15/40

439,397

250,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Lawrence University, Series 2020

.000

02/01/45

207,171

500,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Milwaukee School of Engineering, Series 2021B

- AGM Insured

.125

04/01/39

343,447

500,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Milwaukee School of Engineering, Series 2021B

- AGM Insured

.125

04/01/40

329,598

415,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Milwaukee School of Engineering, Series 2021B

- AGM Insured

.250

04/01/41

270,572

500,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Milwaukee School of Engineering, Series 2021B

- AGM Insured

.250

04/01/42

318,835

1,000,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Milwaukee Science Education Consortium, Inc.,

Series 2023A

.000

03/15/53

906,046

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

3,628,094

HEALTH CARE - 21.0%

155,000

Puerto Rico Industrial, Tourist, Educational, Medical and

Environmental Control Facilities Financing Authority, Hospital

Revenue Bonds, (Hospital Auxilio Mutuo Obligated Group

Project, Refunding Series 2021

.000

07/01/29

164,440

190,000

Puerto Rico Industrial, Tourist, Educational, Medical and

Environmental Control Facilities Financing Authority, Hospital

Revenue Bonds, (Hospital Auxilio Mutuo Obligated Group

Project, Refunding Series 2021

.000

07/01/31

203,751

1,000,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Bellin Memorial Hospital Incorporated Series 2022B

.250

12/01/48

1,017,914

2,765,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Beloit Health System, Inc., Series 2020

.000

07/01/36

2,713,820

8,565,000

(b) Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, Marshfield Clinic Health System, Inc., Series 2017C, (UB)

.000

02/15/47

8,445,131

1,000,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Aspirus, Inc. Obligated Group, Series 2015A

.000

08/15/34

1,001,233

1,000,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Bellin Memorial Hospital, Inc., Series 2019A

.000

12/01/44

886,343

175,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Marshfield Clinic Health System, Inc., Series

2020A - AGM Insured

.000

02/15/37

175,127

TOTAL HEALTH CARE

14,607,759

HOUSING/MULTIFAMILY - 20.4%

2,000,000

Wisconsin Housing and Economic Development Authority Multi

Family Housing Bonds, Western Technical College Student

Housing Project, Series 2013B

.700

04/01/38

2,000,615

750,000

(b) Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2017A

.150

05/01/55

638,171

2,000,000

(b) Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2018A, (UB)

.300

11/01/53

1,787,369

4,520,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2019A

.375

05/01/57

3,260,596

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

2,000,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2022A

.150

%

11/01/50

$

2,008,548

3,000,000

Wisconsin Housing and Economic Development Authority,

Housing Revenue Bonds, Series 2023D

.000

11/01/57

2,995,054

1,500,000

Wisconsin Housing and Economic Development Authority,

Multifamily Housing Bonds, 100 E. National Project Series 2024J,

(Mandatory Put 8/01/26)

.000

08/01/58

1,526,841

TOTAL HOUSING/MULTIFAMILY

14,217,194

INDUSTRIALS - 0.9%

630,000

Milwaukee Redevelopment Authority, Wisconsin, HSI Industrial I

LLC Project Revenue Bonds, Series 2008, (AMT)

.125

06/01/29

631,208

TOTAL INDUSTRIALS

631,208

LONG-TERM CARE - 21.8%

640,000

New Richmond Community Development Authority, Wisconsin,

Lease Revenue Bonds, Series 2025A

.625

09/01/55

582,208

455,000

Winnebago County Housing Authority, Wisconsin, Revenue

Bonds Lutheran Homes of Oshkosh Inc. Project Refunding Series

2015A

.450

03/01/30

429,483

150,000

Wisconsin Health and Educational Facilities Authority, Revenue

Bonds, PHW Muskego, Inc. Project, Series 2021

.000

10/01/61

96,291

2,000,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Clement Manor, Inc., Series 2019

.000

08/01/49

1,775,888

2,000,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Dickson Hollow Project. Series 2014

.375

10/01/44

1,874,831

500,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, PHM / New Richmond Senior Housing, Inc.,

Refunding Series 2021

.250

07/01/37

365,432

2,000,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, PHW Oconomowoc, Inc. Project, Series 2018

.125

10/01/48

1,792,555

1,750,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2014B

.000

07/01/44

1,720,961

2,475,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Rogers Memorial Hospital, Inc., Series 2019A

.000

07/01/49

2,445,075

525,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Saint John's Communities Inc., Refunding Series

2021B

.000

09/15/45

423,932

650,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Saint John's Communities Inc., Refunding Series

2022. Forward Delivery

.000

09/15/45

524,868

1,000,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Three Pillars Senior Living Communities, Series

2021A

.000

08/15/51

742,153

1,000,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Three Pillars Senior Living Communities, Series

2021A

.000

08/15/55

723,430

2,000,000

Wisconsin Health and Educational Facilities Authority, Wisconsin,

Revenue Bonds, Woodland Hills Senior Housing Project, Series

2014

.000

12/01/44

1,650,807

TOTAL LONG-TERM CARE

15,147,914

TAX OBLIGATION/LIMITED - 22.4%

4,445,000

Ashwaubenon Community Development Authority, Wisconsin,

Lease Revenue Bonds, Brown County Expo Center Project, Series

2019

.000

06/01/54

958,271

1,000,000

Brookfield Community Development and Redevelopment

Authority, Wisconsin, Community Development Revenue Bonds,

Series 2015A

.550

06/01/34

995,508

1,000,000

Kaukauna Redevelopment Authority, Outagamie and Calumet

Counties, Wisconsin, Redevelopment Lease Revenue Bonds,

Series 2015

.125

06/01/40

960,570

500,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/39

498,184

800,000

Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue

Bonds, Public Schools, Series 2016A

.000

11/15/30

819,114

Portfolio of Investments August 31, 2025

(continued)

Wisconsin

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

500,000

Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue

Bonds, Public Schools, Series 2016A

.000

%

11/15/31

$

511,946

550,000

Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue

Bonds, Public Schools, Series 2016A

.000

11/15/32

563,141

630,000

Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue

Bonds, Public Schools, Series 2017

.000

11/15/28

645,053

500,000

Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue

Bonds, Public Schools, Series 2017

.000

11/15/34

510,932

1,000,000

Milwaukee Redevelopment Authority, Wisconsin, Lease Revenue

Bonds, Public Schools, Series 2017

.000

11/15/35

1,020,318

500,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/58

458,629

2,250,000

Slinger Redevelopment Authority, Wisconsin, Lease Revenue

Bonds, Police Station Project, Series 2025A

.000

03/01/45

2,275,487

120,000

Virgin Islands Public Finance Authority, Gross Receipts Taxes

Loan Note, Refunding Series 2006 - NPFG Insured

.000

10/01/25

120,350

125,000

Virgin Islands Public Finance Authority, Gross Receipts Taxes

Loan Note, Refunding Series 2006 - FGIC Insured

.000

10/01/28

125,363

390,000

Wisconsin Center District, Appropriation Revenue Bonds,

Milwaukee Arena Project, Series 2016

.000

12/15/27

397,654

1,000,000

Wisconsin Center District, Appropriation Revenue Bonds,

Milwaukee Arena Project, Series 2016

.000

12/15/30

1,017,894

500,000

Wisconsin Center District, Appropriation Revenue Bonds,

Milwaukee Arena Project, Series 2016

.000

12/15/31

508,554

540,000

Wisconsin Center District, Dedicated Tax Revenue Bonds,

Refunding Junior Series 1999

.250

12/15/27

557,032

2,035,000

Wisconsin Center District, Dedicated Tax Revenue Bonds,

Refunding Senior Series 2003A - AGM Insured

.000

12/15/28

1,853,158

945,000

Wisconsin Center District, Dedicated Tax Revenue Bonds,

Refunding Senior Series 2003A

.000

12/15/31

765,326

TOTAL TAX OBLIGATION/LIMITED

15,562,484

TRANSPORTATION - 2.5%

740,000

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

757,743

1,000,000

Public Finance Authority, Wisconsin, Toll Revenue Bonds,

Georgia SR 400 Express Lanes Project, Senior Lien Series 2025

.750

12/31/65

978,433

TOTAL TRANSPORTATION

1,736,176

U.S. GUARANTEED - 2.3% (c)

1,430,000

Southeast Wisconsin Professional Baseball Park District, Sales Tax

Revenue Refunding Bonds, Series 1998A - NPFG Insured, (ETM)

.500

12/15/26

1,460,496

125,000

Wisconsin Center District, Dedicated Tax Revenue Bonds,

Refunding Junior Series 1999, (ETM)

.250

12/15/27

129,177

TOTAL U.S. GUARANTEED

1,589,673

UTILITIES - 5.6%

100,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Refunding Series 2024A

.000

01/01/46

98,755

1,350,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2020A

.000

01/01/50

1,288,178

350,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2025A

.500

07/01/55

356,672

1,000,000

Guam Power Authority, Revenue Bonds,Refunding Series 2017A

.000

10/01/40

1,000,308

130,000

Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding National Series 2007VV - NPFG Insured

.250

07/01/26

130,338

185,000

Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding National Series 2007VV - AGM Insured

.250

07/01/31

186,867

250,000

Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding National Series 2007VV - NPFG Insured

.250

07/01/35

246,173

Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and in conformity with the

applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") related to interim filings. Part F of Form N-PORT does not

include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in

financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For

a full set of the Fund's notes to financial statements, please refer to the Fund's most recently filed annual or semi-annual report.

Fair Value Measurements

The Fund's investments in securities are recorded at their estimated fair value utilizing valuation methods approved by the Board of Directors/

Trustees. 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).

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

them:

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

575,000

Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding Series 2005SS - AGM Insured

.000

%

07/01/30

$

574,890

TOTAL UTILITIES

3,882,181

TOTAL MUNICIPAL BONDS

(Cost $76,863,198)

71,253,256

TOTAL LONG-TERM INVESTMENTS

(Cost $76,863,198)

71,253,256

FLOATING RATE OBLIGATIONS - (11.5)%

(8,020,000)

OTHER ASSETS & LIABILITIES, NET - 9.0%

6,293,448

NET ASSETS - 100%

$

69,526,704

AMT

Alternative Minimum Tax

ETM

Escrowed to maturity

UB

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

unless otherwise noted.

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

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

As of the end of the reporting period, the aggregate value of these securities is $813,028 or 1.1% of Total Investments.

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

floating rate transactions.

(c) 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.

Wisconsin

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

71,253,256

$

–

$

71,253,256

Total

$

–

$

71,253,256

$

–

$

71,253,256

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Nuveen Multistate Trust IV

- **b. Investment Company Act file number:** 811-07751

- **c. CIK number of Registrant:** 0001018973

- **d. LEI of Registrant:** 549300X88GJN1SEFP710

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

  - **Street Address 1:** 333 W. Wacker Dr

  - **City:** Chicago

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60606

  - **Telephone number:** 312-917-7700

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

- **a. Name of Series:** Nuveen Kentucky Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000000597

- **c. LEI of Series:** 549300HND8H1JILW7793

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

- **a. Date of fiscal year-end:** 2026-05-31

- **b. Date as of which information is reported:** 2025-08-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $234826967.00

**Total Liabilities:** $27345932.00

**Net Assets:** $207481035.00

**Delayed Delivery Securities:** $1690395.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -72.54000000 | **1-Year:** -1356.82000000 | **5-Year:** -7333.75000000 | **10-Year:** -77589.65000000 | **30-Year:** -76583.15000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** -1346.65000000 | **30-Year:** -11315.42000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000001668 | 0.78%                | -1.00%               | 1.12%                |
| Class ID C000001671 | 0.69%                | -0.88%               | 1.14%                |
| Class ID C000137706 | 0.61%                | -0.96%               | 0.95%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-138377.98              | $1102039.91                                |
| Month 2  | $-1405631.88             | $-1166661.15                               |
| Month 3  | $-279456.11              | $1486825.58                                |

### Schedule of Portfolio Investments

| Name                                                                                                                                                   | Title                                                                                                                                                  | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A              | Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A              | CUSIP: 49126PEQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2459923.50   | 1.19%             | 2045-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kenton County Airport Board, Kentucky, Airport Revenue Bonds, Cincinnati/Northern Kentucky International Airport, Refunding Series 2016                | Kenton County Airport Board, Kentucky, Airport Revenue Bonds, Cincinnati/Northern Kentucky International Airport, Refunding Series 2016                | CUSIP: 491026UT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1760375.40   | 0.85%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kenton County Airport Board, Kentucky, Airport Revenue Bonds, Cincinnati/Northern Kentucky International Airport, Refunding Series 2016                | Kenton County Airport Board, Kentucky, Airport Revenue Bonds, Cincinnati/Northern Kentucky International Airport, Refunding Series 2016                | CUSIP: 491026UV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1210000 | PA      | $1215915.45   | 0.59%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Bond Development Corporation, Hospital Revenue Bonds, Saint Elizabeth Medical Center, Inc., Refunding Series 2016                             | Kentucky Bond Development Corporation, Hospital Revenue Bonds, Saint Elizabeth Medical Center, Inc., Refunding Series 2016                             | CUSIP: 491210AW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8037022.40   | 3.87%             | 2039-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A              | Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A              | CUSIP: 49126PFA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5320000 | PA      | $5320032.98   | 2.56%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property and Buildings Commission, Revenue Bonds, Project 115, Series 2017                                                              | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 115, Series 2017                                                              | CUSIP: 49151FTN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6097981.20   | 2.94%             | 2038-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisville Regional Airport Authority, Kentucky, Airport System Revenue Bonds, Refunding Series 2014A                                                  | Louisville Regional Airport Authority, Kentucky, Airport System Revenue Bonds, Refunding Series 2014A                                                  | CUSIP: 546850CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1555753.40   | 0.75%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisville Regional Airport Authority, Kentucky, Airport System Revenue Bonds, Refunding Series 2014A                                                  | Louisville Regional Airport Authority, Kentucky, Airport System Revenue Bonds, Refunding Series 2014A                                                  | CUSIP: 546850DA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1500578.25   | 0.72%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-Calloway County Public Hospital Corporation Project, Refunding Series 2016                 | Murray, Kentucky, Hospital Facilities Revenue Bonds, Murray-Calloway County Public Hospital Corporation Project, Refunding Series 2016                 | CUSIP: 62708PBU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001889.80   | 0.96%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Murray State University, Kentucky, General Receipts Bonds, Series 2015A                                                                                | Murray State University, Kentucky, General Receipts Bonds, Series 2015A                                                                                | CUSIP: 627175FM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1128397.50   | 0.54%             | 2026-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Murray State University, Kentucky, General Receipts Bonds, Series 2015A                                                                                | Murray State University, Kentucky, General Receipts Bonds, Series 2015A                                                                                | CUSIP: 627175FN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1078292.30   | 0.52%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Paducah, Kentucky, Electric Plant Board Revenue Bonds, Refunding Series 2016A                                                                          | Paducah, Kentucky, Electric Plant Board Revenue Bonds, Refunding Series 2016A                                                                          | CUSIP: 695317DX2<br>LEI: 549300XTPDPORT8VIQ62 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2038364.00   | 0.98%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Paducah, Kentucky, Electric Plant Board Revenue Bonds, Series 2009A                                                                                    | Paducah, Kentucky, Electric Plant Board Revenue Bonds, Series 2009A                                                                                    | CUSIP: 695317EB9<br>LEI: 549300XTPDPORT8VIQ62 | Long             | DBT              | MUN               | US        |      5000 | PA      | $5005.47      | 0.00%             | 2035-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Princeton Electric Plant Board, Kentucky, Revenue Bonds, Refunding Series 2015                                                                         | Princeton Electric Plant Board, Kentucky, Revenue Bonds, Refunding Series 2015                                                                         | CUSIP: 742149DR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1101586.75   | 0.53%             | 2034-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Princeton Electric Plant Board, Kentucky, Revenue Bonds, Refunding Series 2015                                                                         | Princeton Electric Plant Board, Kentucky, Revenue Bonds, Refunding Series 2015                                                                         | CUSIP: 742149DS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $355463.35    | 0.17%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Princeton Electric Plant Board, Kentucky, Revenue Bonds, Refunding Series 2015                                                                         | Princeton Electric Plant Board, Kentucky, Revenue Bonds, Refunding Series 2015                                                                         | CUSIP: 742149DZ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1635000 | PA      | $1637225.89   | 0.79%             | 2037-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Warren County, Kentucky, Hospital Revenue Bonds, Bowling Green-Warren County Community Hospital Corporation, Series 2012A                              | Warren County, Kentucky, Hospital Revenue Bonds, Bowling Green-Warren County Community Hospital Corporation, Series 2012A                              | CUSIP: 934864AC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000533.80   | 0.96%             | 2037-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Warren County, Kentucky, Hospital Revenue Bonds, Bowling Green-Warren County Community Hospital Corporation, Series 2012A                              | Warren County, Kentucky, Hospital Revenue Bonds, Bowling Green-Warren County Community Hospital Corporation, Series 2012A                              | CUSIP: 934864AE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $1980801.31   | 0.95%             | 2033-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A                                      | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A                                      | CUSIP: 49126KKE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $497631.15    | 0.24%             | 2041-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Campbellsville, Kentucky, Industrial Building Revenue Bonds, Campbellsville University Project, Series 2017                                            | Campbellsville, Kentucky, Industrial Building Revenue Bonds, Campbellsville University Project, Series 2017                                            | CUSIP: 134517DG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $140770.29    | 0.07%             | 2039-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A                                      | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Owensboro Health, Refunding Series 2017A                                      | CUSIP: 49126KKF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2385259.25   | 1.15%             | 2045-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Kentucky, General Receipts Bonds, Series 2016A                                                                                           | University of Kentucky, General Receipts Bonds, Series 2016A                                                                                           | CUSIP: 914378JY1<br>LEI: 549300CXE3YQ1HXYCQ71 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250349.00    | 0.12%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Transportation Infrastructure Authority, Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation First Tier Se | Kentucky Public Transportation Infrastructure Authority, Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation First Tier Se | CUSIP: 491397AT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1124219.60   | 0.54%             | 2039-07-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2017A                | Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2017A                | CUSIP: 49127KBU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  14650000 | PA      | $13387870.27  | 6.45%             | 2041-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2017A                | Kentucky Economic Development Finance Authority, Louisville Arena Project Revenue Bonds, Louisville Arena Authority, Inc., Series 2017A                | CUSIP: 49127KBV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994398.70    | 0.48%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property and Buildings Commission, Revenue Bonds, Project 115, Series 2017                                                              | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 115, Series 2017                                                              | CUSIP: 49151FTG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7225026.20   | 3.48%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Turnpike Authority, Economic Development Road Revenue Bonds, Revitalization Project, Refunding Series 2017A                                   | Kentucky Turnpike Authority, Economic Development Road Revenue Bonds, Revitalization Project, Refunding Series 2017A                                   | CUSIP: 491552N92<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1980609.62   | 0.95%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Turnpike Authority, Economic Development Road Revenue Bonds, Revitalization Project, Refunding Series 2017B                                   | Kentucky Turnpike Authority, Economic Development Road Revenue Bonds, Revitalization Project, Refunding Series 2017B                                   | CUSIP: 491552R23<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5221640.00   | 2.52%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Louisville, Kentucky, Revenue Bonds, Refunding General Receipts Series 2016C                                                             | University of Louisville, Kentucky, Revenue Bonds, Refunding General Receipts Series 2016C                                                             | CUSIP: 914391M53<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2518155.75   | 1.21%             | 2028-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A              | Kentucky Economic Development Finance Authority, Revenue Bonds, Next Generation Kentucky Information Highway Project, Senior Series 2015A              | CUSIP: 49126PEZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2001462.20   | 0.96%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Infrastructure Authority, Wastewater and Drinking Water Revolving Fund Revenue Bonds, Series 2018A                                            | Kentucky Infrastructure Authority, Wastewater and Drinking Water Revolving Fund Revenue Bonds, Series 2018A                                            | CUSIP: 491311AN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3265000 | PA      | $3459759.21   | 1.67%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Carroll County, Kentucky, Environmental Facilities Revenue Bonds, Kentucky Utilities Company Project, Refunding Series 2018A                           | Carroll County, Kentucky, Environmental Facilities Revenue Bonds, Kentucky Utilities Company Project, Refunding Series 2018A                           | CUSIP: 14483RAQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1374075.18   | 0.66%             | 2026-02-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Kentucky Bond Development Corporation, Transient Room Tax Revenue Bonds, Lexington Center Corporation Project, Series 2018A                            | Kentucky Bond Development Corporation, Transient Room Tax Revenue Bonds, Lexington Center Corporation Project, Series 2018A                            | CUSIP: 491214AX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3890711.20   | 1.88%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Series 2017B                       | Kentucky Economic Development Finance Authority, Hospital Revenue Bonds, Baptist Healthcare System Obligated Group, Series 2017B                       | CUSIP: 49126KLC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3011643.00   | 1.45%             | 2041-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Refunding Series 2018A                 | Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Refunding Series 2018A                 | CUSIP: 546589J86<br>LEI: 5493004O4I11L8BK0A22 | Long             | DBT              | MUN               | US        |   3730000 | PA      | $3669020.47   | 1.77%             | 2037-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1                                                             | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1                                                             | CUSIP: 74529JQF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $882509.34    | 0.43%             | 2033-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1                                                             | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured 2018A-1                                                             | CUSIP: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     89000 | PA      | $81635.98     | 0.04%             | 2058-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Higher Education Student Loan Corporation, Student Loan Revenue Bonds, Series 2019A                                                           | Kentucky Higher Education Student Loan Corporation, Student Loan Revenue Bonds, Series 2019A                                                           | CUSIP: 49130NEK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $734830.04    | 0.35%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Higher Education Student Loan Corporation, Student Loan Revenue Bonds, Series 2019A                                                           | Kentucky Higher Education Student Loan Corporation, Student Loan Revenue Bonds, Series 2019A                                                           | CUSIP: 49130NEJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1040033.30   | 0.50%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Transportation Infrastructure Authority, Toll Revenue Bonds, Downtown Crossing Project, Capital Appreciation First Tier Series 2013B   | Kentucky Public Transportation Infrastructure Authority, Toll Revenue Bonds, Downtown Crossing Project, Capital Appreciation First Tier Series 2013B   | CUSIP: 491397AQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $484762.67    | 0.23%             | 2032-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Bowling Green, Kentucky, Water and Sewer Revenue Bonds, Series 2019                                                                                    | Bowling Green, Kentucky, Water and Sewer Revenue Bonds, Series 2019                                                                                    | CUSIP: 102745PZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5705000 | PA      | $4864719.11   | 2.34%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2                               | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2                               | CUSIP: 74529JRH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4180000 | PA      | $3876708.81   | 1.87%             | 2040-07-01      | Fixed         | 4.33%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority, Revenue Bonds, CommonSpirit Health, Series 2019A-2                                                    | Kentucky Economic Development Finance Authority, Revenue Bonds, CommonSpirit Health, Series 2019A-2                                                    | CUSIP: 49126PGT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102720.27    | 0.05%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority, Revenue Bonds, CommonSpirit Health, Series 2019A-2                                                    | Kentucky Economic Development Finance Authority, Revenue Bonds, CommonSpirit Health, Series 2019A-2                                                    | CUSIP: 49126PGU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $102054.01    | 0.05%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Economic Development Finance Authority, Revenue Bonds, CommonSpirit Health, Series 2019A-1                                                    | Kentucky Economic Development Finance Authority, Revenue Bonds, CommonSpirit Health, Series 2019A-1                                                    | CUSIP: 49126PGE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6385000 | PA      | $6311686.79   | 3.04%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured Cofina Project Series 2019A-2A                                      | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured Cofina Project Series 2019A-2A                                      | CUSIP: 74529JRQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3370000 | PA      | $3216239.37   | 1.55%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Newport, Kentucky, Special Obligation Revenue Bonds, Newport Clifton Project, Series 2020B                                                             | Newport, Kentucky, Special Obligation Revenue Bonds, Newport Clifton Project, Series 2020B                                                             | CUSIP: 65206PAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    995000 | PA      | $788777.30    | 0.38%             | 2060-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Warren County, Kentucky, Hospital Revenue Bonds, Bowling Green-Warren County Community Hospital Corporation, Refunding Series 2021A                    | Warren County, Kentucky, Hospital Revenue Bonds, Bowling Green-Warren County Community Hospital Corporation, Refunding Series 2021A                    | CUSIP: 934864BC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506688.40    | 0.24%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Warren County, Kentucky, Hospital Revenue Bonds, Bowling Green-Warren County Community Hospital Corporation, Refunding Series 2021A                    | Warren County, Kentucky, Hospital Revenue Bonds, Bowling Green-Warren County Community Hospital Corporation, Refunding Series 2021A                    | CUSIP: 934864BD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $519474.80    | 0.25%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 20 | Louisville-Jefferson County Metropolitan Government, Kentucky, Pollution Control Revenue Bonds, Louisville Gas and Electric Company Project, Series 20 | CUSIP: 546749AT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7000000 | PA      | $5882630.60   | 2.84%             | 2033-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Carroll County, Kentucky, Environmental Facilities Revenue Bonds, Kentucky Utilities Company Project, Refunding Series 2006B                           | Carroll County, Kentucky, Environmental Facilities Revenue Bonds, Kentucky Utilities Company Project, Refunding Series 2006B                           | CUSIP: 14483RAU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1609707.40   | 0.78%             | 2034-10-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Kentucky Bond Development Corporation, Educational Facilities Revenue Bonds, City of Danville, Centre College Project, Series 2021                     | Kentucky Bond Development Corporation, Educational Facilities Revenue Bonds, City of Danville, Centre College Project, Series 2021                     | CUSIP: 49120ABN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3291113.20   | 1.59%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State University, Certificates of Participation, Series 2021                                                                                  | Kentucky State University, Certificates of Participation, Series 2021                                                                                  | CUSIP: 491588AS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3025000 | PA      | $2582794.31   | 1.24%             | 2051-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State University, Certificates of Participation, Series 2021                                                                                  | Kentucky State University, Certificates of Participation, Series 2021                                                                                  | CUSIP: 491588AT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1124582.54   | 0.54%             | 2056-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Municipal Power Agency, Power System Revenue Bonds, Prairie State Project, Refunding Series 2019A                                             | Kentucky Municipal Power Agency, Power System Revenue Bonds, Prairie State Project, Refunding Series 2019A                                             | CUSIP: 491501FE7<br>LEI: 2549001MTI3IE05Z7959 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1226106.30   | 0.59%             | 2045-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Higher Education Student Loan Corporation, Student Loan Revenue Bonds, Senior Series 2021A-1                                                  | Kentucky Higher Education Student Loan Corporation, Student Loan Revenue Bonds, Senior Series 2021A-1                                                  | CUSIP: 49130NFM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $525774.80    | 0.25%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Higher Education Student Loan Corporation, Student Loan Revenue Bonds, Senior Series 2021A-1                                                  | Kentucky Higher Education Student Loan Corporation, Student Loan Revenue Bonds, Senior Series 2021A-1                                                  | CUSIP: 49130NFN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1279560.77   | 0.62%             | 2032-06-01      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Kentucky Bond Development Corporation, Kentucky, Industrial Building Revenue Bonds, Kentucky Communications Network Authority, Series 2019             | Kentucky Bond Development Corporation, Kentucky, Industrial Building Revenue Bonds, Kentucky Communications Network Authority, Series 2019             | CUSIP: 491211BR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4375000 | PA      | $4326675.50   | 2.09%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisville and Jefferson County Metropolitan Government, Kentucky, Hospital Revenue Bonds, UofL Health Project, Series 2022A                           | Louisville and Jefferson County Metropolitan Government, Kentucky, Hospital Revenue Bonds, UofL Health Project, Series 2022A                           | CUSIP: 54660DAC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2690000 | PA      | $2518890.18   | 1.21%             | 2052-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Henderson, Kentucky, Facilities Revenue Bonds, Pratt Paper LLC Project, Series 2022A                                                                   | Henderson, Kentucky, Facilities Revenue Bonds, Pratt Paper LLC Project, Series 2022A                                                                   | CUSIP: 425099AB4<br>LEI: 549300UJ32J1O26W1T80 | Long             | DBT              | MUN               | US        |   1180000 | PA      | $1045412.74   | 0.50%             | 2052-01-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Union Kentucky, Special Obligation Revenue Bonds, Union Promenade Project, Series 2022B                                                                | Union Kentucky, Special Obligation Revenue Bonds, Union Promenade Project, Series 2022B                                                                | CUSIP: 906879AA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2646418.50   | 1.28%             | 2052-12-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Louisville and Jefferson County Metropolitan Government, Kentucky, Hospital Revenue Bonds, UofL Health Project, Series 2022A                           | Louisville and Jefferson County Metropolitan Government, Kentucky, Hospital Revenue Bonds, UofL Health Project, Series 2022A                           | CUSIP: 54660DAT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4365839.25   | 2.10%             | 2052-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Newport, Kentucky, Special Obligation Revenue Bonds, Newport Skypoint Project, Refunding Series 2023                                                   | Newport, Kentucky, Special Obligation Revenue Bonds, Newport Skypoint Project, Refunding Series 2023                                                   | CUSIP: 65206PAB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2415000 | PA      | $2142107.17   | 1.03%             | 2050-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Owen County, Kentucky, Water Facilities Revenue Bonds, Kentucky-American Water Company Project, Refunding Series 2020                                  | Owen County, Kentucky, Water Facilities Revenue Bonds, Kentucky-American Water Company Project, Refunding Series 2020                                  | CUSIP: 69068WAD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1869747.25   | 0.90%             | 2040-06-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Logan County School District Finance Corporation, Kentucky, Revenue Bonds, School Building Series 2023                                                 | Logan County School District Finance Corporation, Kentucky, Revenue Bonds, School Building Series 2023                                                 | CUSIP: 540790NA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2515867.60   | 1.21%             | 2041-09-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Logan County School District Finance Corporation, Kentucky, Revenue Bonds, School Building Series 2023                                                 | Logan County School District Finance Corporation, Kentucky, Revenue Bonds, School Building Series 2023                                                 | CUSIP: 540790NB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2765000 | PA      | $2629704.96   | 1.27%             | 2042-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Logan County School District Finance Corporation, Kentucky, Revenue Bonds, School Building Series 2023                                                 | Logan County School District Finance Corporation, Kentucky, Revenue Bonds, School Building Series 2023                                                 | CUSIP: 540790NC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2870000 | PA      | $2704892.06   | 1.30%             | 2043-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Christian County School District Finance Corporation, Kentucky, School Building Revenue Bonds, Series 2023                                             | Christian County School District Finance Corporation, Kentucky, School Building Revenue Bonds, Series 2023                                             | CUSIP: 170704TJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3252489.80   | 1.57%             | 2053-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Louisville and Jefferson County Metropolitan Government, Kentucky, General Obligation Bonds, Series 2023A                                              | Louisville and Jefferson County Metropolitan Government, Kentucky, General Obligation Bonds, Series 2023A                                              | CUSIP: 546585WM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5685000 | PA      | $6060818.30   | 2.92%             | 2040-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hazard, Kentucky, Healthcare Revenue Bonds, Appalachian Regional Healthcare Project, Series 2021                                                       | Hazard, Kentucky, Healthcare Revenue Bonds, Appalachian Regional Healthcare Project, Series 2021                                                       | CUSIP: 421381BD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9190000 | PA      | $7921315.91   | 3.82%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Nelson County School District Finance Corporation, Kentucky, School Building Revenue Bonds, Series 2024                                                | Nelson County School District Finance Corporation, Kentucky, School Building Revenue Bonds, Series 2024                                                | CUSIP: 640345A20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1910000 | PA      | $1941405.18   | 0.94%             | 2044-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2024B                                                                  | Public Energy Authority of Kentucky, Gas Supply Revenue Bonds, Refunding Series 2024B                                                                  | CUSIP: 74440DFC3<br>LEI: 549300XEJZWHYSY4SL55 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1492692.18   | 0.72%             | 2055-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kenton County Airport Board, Kentucky, Airport Revenue Bonds, Cincinnati/Northern Kentucky International Airport, Series 2024A                         | Kenton County Airport Board, Kentucky, Airport Revenue Bonds, Cincinnati/Northern Kentucky International Airport, Series 2024A                         | CUSIP: 491026WK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |         0 | PA      | $0.00         | 0.00%             | 2054-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| University of Kentucky, Lease Purchase Obligations Bonds, UK Healthcare Cancer Center Parking Project, Series 2024                                     | University of Kentucky, Lease Purchase Obligations Bonds, UK Healthcare Cancer Center Parking Project, Series 2024                                     | CUSIP: 914383AW4<br>LEI: 549300CXE3YQ1HXYCQ71 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3037007.40   | 1.46%             | 2049-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kenton County Airport Board, Kentucky, Airport Revenue Bonds, Cincinnati/Northern Kentucky International Airport, Series 2024A                         | Kenton County Airport Board, Kentucky, Airport Revenue Bonds, Cincinnati/Northern Kentucky International Airport, Series 2024A                         | CUSIP: 491026WJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5795000 | PA      | $5817829.98   | 2.80%             | 2049-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Series 2014A                           | Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Series 2014A                           | CUSIP: 5465892Z4<br>LEI: 5493004O4I11L8BK0A22 | Long             | DBT              | MUN               | US        |    365000 | PA      | $338101.40    | 0.16%             | 2040-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Jefferson County School District, Kentucky, General Obligation Bonds, Series 2024A                                                                     | Jefferson County School District, Kentucky, General Obligation Bonds, Series 2024A                                                                     | CUSIP: 47309RAR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4715491.50   | 2.27%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Covington, Kentucky, General Obligation Bonds, Series 2024C                                                                                            | Covington, Kentucky, General Obligation Bonds, Series 2024C                                                                                            | CUSIP: 223255KW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5780000 | PA      | $4998828.38   | 2.41%             | 2054-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| McCracken County, Kentucky, General Obligation Bonds, Series 2024A                                                                                     | McCracken County, Kentucky, General Obligation Bonds, Series 2024A                                                                                     | CUSIP: 579814DT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1473529.34   | 0.71%             | 2044-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lexington-Fayette Urban County Government, Kentucky, General Obligation Bonds, Various Purpose Series 2025A                                            | Lexington-Fayette Urban County Government, Kentucky, General Obligation Bonds, Various Purpose Series 2025A                                            | CUSIP: 52908E5B5<br>LEI: 549300CQQJVZ2ZU0TG79 | Long             | DBT              | MUN               | US        |   1925000 | PA      | $1756422.75   | 0.85%             | 2042-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Bond Development Corporation, Hospital Revenue Bonds, Baptist Healthcare System Williamsburg Series 2025A                                     | Kentucky Bond Development Corporation, Hospital Revenue Bonds, Baptist Healthcare System Williamsburg Series 2025A                                     | CUSIP: 49121DAC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1083824.90   | 0.52%             | 2055-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Shelby County Board of Education, Kentucky, General Obligation Bonds, Series 2025                                                                      | Shelby County Board of Education, Kentucky, General Obligation Bonds, Series 2025                                                                      | CUSIP: 821601AS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2274917.00   | 1.10%             | 2042-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Municipal Energy Agency, Power System Revenue Bonds, Energy Center I Project, Series 2025                                                     | Kentucky Municipal Energy Agency, Power System Revenue Bonds, Energy Center I Project, Series 2025                                                     | CUSIP: 491499AT6<br>LEI: 254900W8G3M70YHUAO94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010110.90   | 0.49%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oldham County School District, Kentucky, General Obligation Bonds, Series 2025A                                                                        | Oldham County School District, Kentucky, General Obligation Bonds, Series 2025A                                                                        | CUSIP: 680455AQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2085231.00   | 1.01%             | 2040-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky State Property and Buildings Commission, Revenue Bonds, Project 132, Series 2025A                                                             | Kentucky State Property and Buildings Commission, Revenue Bonds, Project 132, Series 2025A                                                             | CUSIP: 49151F5F3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3083133.00   | 1.49%             | 2043-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Transportation Infrastructure Authority, Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation First Tier Se | Kentucky Public Transportation Infrastructure Authority, Toll Revenue Bonds, Downtown Crossing Project, Convertible Capital Appreciation First Tier Se | CUSIP: 491397AV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1738770.00   | 0.84%             | 2033-07-01      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| Richmond, Kentucky, General Obligation Bonds, Series 2025                                                                                              | Richmond, Kentucky, General Obligation Bonds, Series 2025                                                                                              | CUSIP: 764870GE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1900419.27   | 0.92%             | 2039-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Richmond, Kentucky, General Obligation Bonds, Series 2025                                                                                              | Richmond, Kentucky, General Obligation Bonds, Series 2025                                                                                              | CUSIP: 764870GR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4692175.50   | 2.26%             | 2050-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| University of Louisville, Kentucky, Revenue Bonds, General Receipts Series 2025A                                                                       | University of Louisville, Kentucky, Revenue Bonds, General Receipts Series 2025A                                                                       | CUSIP: 9143912E6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2145000 | PA      | $2199394.63   | 1.06%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Series 2023C                           | Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Series 2023C                           | CUSIP: 5465892F8<br>LEI: 5493004O4I11L8BK0A22 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2515094.00   | 1.21%             | 2053-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rural Water Financing Agency, Kentucky, Public Projects Revenue Bonds, Flexible Term Program, Series 2025C                                             | Rural Water Financing Agency, Kentucky, Public Projects Revenue Bonds, Flexible Term Program, Series 2025C                                             | CUSIP: 781741FQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010944.90   | 0.49%             | 2045-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Boone-Florence Water Commission, Kentucky, Water Supply System Revenue Bonds, Refunding Series 2024A                                                   | Boone-Florence Water Commission, Kentucky, Water Supply System Revenue Bonds, Refunding Series 2024A                                                   | CUSIP: 099003DB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1980000 | PA      | $1627889.87   | 0.78%             | 2051-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Refunding Series 2025A                 | Louisville and Jefferson County Metropolitan Sewer District, Kentucky, Sewer and Drainage System Revenue Bonds, Refunding Series 2025A                 | CUSIP: 5465894F6<br>LEI: 5493004O4I11L8BK0A22 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1006288.70   | 0.49%             | 2055-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisville and Jefferson County Metropolitan Government Board of Water Works, Kentucky, Water System Revenue Bonds, Series 2025                        | Louisville and Jefferson County Metropolitan Government Board of Water Works, Kentucky, Water System Revenue Bonds, Series 2025                        | CUSIP: 54659RFX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1691118.90   | 0.82%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-31

**Name of Applicant:** Nuveen Multistate Trust IV

**Signature:** Gina Spunder

**Name of Signer:** Gina Spunder

**Title:** Director, Fund Financial Reporting