# EDGAR Filing Document

**Accession Number:** 0001018975
**File Stem:** 0001018975-26-000011
**Filing Date:** 2026-1
**Character Count:** 362692
**Document Hash:** ae726549641154954a3ec05d9892ce87
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001018975-26-000011.hdr.sgml**: 20260128

**ACCESSION NUMBER**: 0001018975-26-000011

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251130

**FILED AS OF DATE**: 20260128

**DATE AS OF CHANGE**: 20260128

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NUVEEN MULTISTATE TRUST II /MA/
- **CENTRAL INDEX KEY:** 0001018975

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0228

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07755
- **FILM NUMBER:** 26568915

**BUSINESS ADDRESS:**
- **STREET 1:** C/O NUVEEN INVESTMENTS
- **STREET 2:** 333 WEST WACKER DRIVE 33RD FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3129177783

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

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

## Series and Classes Contracts Data

### Nuveen Connecticut Municipal Bond Fund (Series ID: S000000554)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000001524 | Nuveen Connecticut Municipal Bond Fund - Class A | FCTTX           |
| C000001527 | Nuveen Connecticut Municipal Bond Fund - Class I | FCTRX           |
| C000137688 | Class C                                          | FDCDX           |

## Nport-Ex

#### Portfolio of Investments November 30, 2025

#### California High Yield Municipal Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 124.9%

X

1,239,613,592

MUNICIPAL BONDS - 124.9%

X

–

CONSUMER STAPLES - 2.1%

$

27,000,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Alameda County Tobacco Asset

Securitization Corporation, Subordinate Series 2006A

.000

%

06/01/50

$

6,106,884

1,155,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Golden Gate Tobacco Funding

Corporation, Turbo, Series 2007A

.000

06/01/47

1,102,304

4,040,000

Golden State Tobacco Securitization Corporation, California,

Tobacco Settlement Asset-Backed Revenue Bonds, Series

2022A-1

.000

06/01/51

4,047,977

3,460,000

Guam Economic Development & Commerce Authority, Tobacco

Settlement Asset-Backed Bonds, Series 2007A

.625

06/01/47

3,192,708

17,600,000

Inland Empire Tobacco Securitization Authority, California,

Tobacco Settlement Asset-Backed Bonds, Series 2007C-2. Turbo

Capital Appreciation

.000

06/01/47

3,153,697

7,500,000

Silicon Valley Tobacco Securitization Authority, California,

Tobacco Settlement Asset-Backed Bonds, Santa Clara County

Tobacco Securitization Corporation, Series 2007A

.000

06/01/47

1,803,421

5,000,000

Tobacco Securitization Authority of Southern California, Tobacco

Settlement Asset-Backed Bonds, San Diego County Tobacco

Asset Securitization Corporation, First Subordinate CABs, Series

2006B

.000

06/01/46

1,234,746

TOTAL CONSUMER STAPLES

20,641,737

EDUCATION AND CIVIC ORGANIZATIONS - 26.6%

8,985,000

California Educational Facilities Authority, Revenue Bonds,

Master's University, Series 2025

.000

08/01/50

8,749,363

11,435,000

California Educational Facilities Authority, Revenue Bonds,

Master's University, Series 2025

.125

08/01/55

11,221,749

4,140,000

(a) California Enterprise Development Authority, Charter School

Revenue Bonds, Norton Science and Language Academy Project,

Series 2020

.250

07/01/58

4,214,060

1,505,000

(a) California Enterprise Development Authority, Charter School

Revenue Bonds, Rocklin Academy Project, Series 2024

.000

06/01/44

1,478,012

4,250,000

(b) California Infrastructure and Economic Development Bank,

Revenue Bonds, Los Angeles County Museum of Natural History

Foundation, Series 2020, (UB)

.000

07/01/50

4,110,529

900,000

California Municipal Finance Authority Charter School Revenue

Bonds, John Adams Academies, Inc. Project, Series 2015A

.000

10/01/35

900,270

1,335,000

California Municipal Finance Authority Charter School Revenue

Bonds, John Adams Academies, Inc. Project, Series 2015A

.250

10/01/45

1,281,716

3,925,000

(a) California Municipal Finance Authority Charter School Revenue

Bonds, John Adams Academies, Inc. Project, Series 2017A

.000

10/01/47

3,653,944

700,000

(a) California Municipal Finance Authority Charter School Revenue

Bonds, River Charter Schools Project, Series 2018A

.500

06/01/38

701,328

2,000,000

(a) California Municipal Finance Authority Charter School Revenue

Bonds, River Charter Schools Project, Series 2018A

.500

06/01/48

1,911,179

250,000

(a) California Municipal Finance Authority Charter School Revenue

Bonds, River Charter Schools Project, Series 2018A

.500

06/01/53

235,373

1,150,000

(a) California Municipal Finance Authority, Charter School Lease

Revenue Bonds, Bella Mente Montessori Academy Project, Series

2018A

.000

06/01/48

1,092,262

400,000

(a) California Municipal Finance Authority, Charter School Lease

Revenue Bonds, Santa Rosa Academy Project, Series 2015

.125

07/01/35

400,079

425,000

(a) California Municipal Finance Authority, Charter School Lease

Revenue Bonds, Santa Rosa Academy Project, Series 2015

.375

07/01/45

404,933

400,000

(a) California Municipal Finance Authority, Charter School Revenue

Bonds, John Adams Academies, Inc. - Lincoln Project, Series

2019A

.000

10/01/29

398,026

90,000

(a) California Municipal Finance Authority, Charter School Revenue

Bonds, John Adams Academies, Inc. - Lincoln Project, Taxable

Series 2019B

.000

10/01/39

89,935

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

#### California High Yield Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

1,515,000

(a) California Municipal Finance Authority, Charter School Revenue

Bonds, John Adams Academies, Inc. - Lincoln Project, Taxable

Series 2019B

.000

%

10/01/49

$

1,373,607

1,000,000

(a) California Municipal Finance Authority, Charter School Revenue

Bonds, John Adams Academies, Inc. - Lincoln Project, Taxable

Series 2019B

.000

10/01/57

881,816

1,285,000

California Municipal Finance Authority, Charter School Revenue

Bonds, John Adams Academies, Inc. Project, Series 2014A

.000

10/01/34

1,285,516

465,000

California Municipal Finance Authority, Charter School Revenue

Bonds, John Adams Academies, Inc. Project, Series 2014A

.000

10/01/44

437,964

4,340,000

(a) California Municipal Finance Authority, Charter School Revenue

Bonds, Palmdale Aerospace Academy Project, Series 2016A

.000

07/01/36

4,334,424

3,695,000

(a) California Municipal Finance Authority, Charter School Revenue

Bonds, Palmdale Aerospace Academy Project, Series 2016A

.000

07/01/41

3,577,786

1,000,000

(a) California Municipal Finance Authority, Charter School Revenue

Bonds, Palmdale Aerospace Academy Project, Series 2018A

.000

07/01/38

998,078

1,800,000

(a) California Municipal Finance Authority, Charter School Revenue

Bonds, Palmdale Aerospace Academy Project, Series 2018A

.000

07/01/49

1,640,770

1,715,000

California Municipal Finance Authority, Education Revenue

Bonds, American Heritage Foundation Project, Series 2016A

.000

06/01/46

1,715,762

1,145,000

California Municipal Finance Authority, Education Revenue

Bonds, Literacy First Charter Schools Project, Series 2019A

.000

12/01/39

1,184,251

2,260,000

(a) California Municipal Finance Authority, Education Revenue

Bonds, STREAM Charter Schools Project, Series 2020A

.000

06/15/51

2,034,406

1,000,000

(a) California Municipal Finance Authority, Educational Facilities

Revenue Bonds, Westside Neighborhood School Project, Series

2024

.375

06/15/64

1,055,320

710,000

(a) California Municipal Finance Authority, Revenue Bonds,

American Musical and Dramatic Academy Inc. AMDA Inc Project,

Taxable Series 2023B

.500

07/01/30

726,104

12,450,000

California Municipal Finance Authority, Revenue Bonds,

American Musical and Dramatic Academy Inc., Series 2023A

.250

07/01/53

12,713,984

775,000

(a) California Municipal Finance Authority, Revenue Bonds,

California Baptist University, Refunding Series 2025A

.375

11/01/45

791,224

500,000

(a) California Municipal Finance Authority, Revenue Bonds,

California Baptist University, Refunding Series 2025A

.625

11/01/54

509,683

1,500,000

(a) California Municipal Finance Authority, Revenue Bonds,

California Baptist University, Series 2016A

.000

11/01/36

1,506,605

1,555,000

(a) California Municipal Finance Authority, Revenue Bonds,

California Baptist University, Series 2016A

.000

11/01/46

1,501,320

1,000,000

(a) California Municipal Finance Authority, Revenue Bonds,

Claremont Graduate University, Refunding Series 2020B

.000

10/01/49

917,613

1,000,000

(a) California Municipal Finance Authority, Revenue Bonds,

Claremont Graduate University, Refunding Series 2020B

.000

10/01/54

893,960

270,000

(a) California Municipal Finance Authority, Revenue Bonds, Goodwill

Industries of Sacramento Valley & Northern Nevada Project,

Series 2012A

.625

01/01/32

265,099

3,700,000

California Municipal Finance Authority, Revenue Bonds, Goodwill

Industries of Sacramento Valley & Northern Nevada Project,

Series 2014A

.250

01/01/45

2,911,959

7,000,000

(a) California Municipal Finance Authority, Revenue Bonds, Simpson

University, Series 2020A

.000

10/01/50

6,933,429

1,000,000

California Municipal Finance Authority, Revenue Bonds, The

Master's University & Seminary, Series 2019

.000

08/01/34

1,033,033

1,100,000

(a) California Municipal Finance Authority, Revenue Bonds, Turning

Point School, Series 2024

.250

06/01/44

1,047,300

1,300,000

(a) California Municipal Finance Authority, Revenue Bonds, Turning

Point School, Series 2024

.500

06/01/54

1,216,108

350,000

(a) California Municipal Finance Authority, School Facility Revenue

Bonds, Saint Mary's School-Aliso Viejo, Series 2024A

.500

05/01/44

353,698

435,000

(a) California Municipal Finance Authority, School Facility Revenue

Bonds, Saint Mary's School-Aliso Viejo, Series 2024A

.750

05/01/54

437,722

2,000,000

(a) California Public Finance Authority, Charter School Lease

Revenue Bonds, California Crosspoint Academy Project, Series

2020A

.125

07/01/55

1,720,871

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

700,000

California Public Finance Authority, Charter School Lease

Revenue Bonds, Multicultural Learning Center Project, Series

2017A

.250

%

06/15/47

$

702,629

4,500,000

(a) California Public Finance Authority, Educational Facility Revenue

Bonds, Crossroads Christian Schools, Series 2020

.000

01/01/56

3,938,854

1,075,000

(a) California School Finance Authority Charter School Facility

Revenue Bonds, Grimmway Schools-Obligated Group, Series

2016A

.000

07/01/46

1,043,702

755,000

(a) California School Finance Authority Charter School Revenue

Bonds, Bright Star Schools - Obligated Group, Series 2017

.000

06/01/37

755,506

2,000,000

(a) California School Finance Authority Charter School Revenue

Bonds, Bright Star Schools - Obligated Group, Series 2017

.000

06/01/47

1,844,714

2,090,000

(a) California School Finance Authority Charter School Revenue

Bonds, Bright Star Schools - Obligated Group, Series 2017

.000

06/01/54

1,870,482

1,000,000

(a) California School Finance Authority Charter School Revenue

Bonds, Ednovate - Obligated Group, Series 2018

.000

06/01/48

901,597

960,000

(a) California School Finance Authority Charter School Revenue

Bonds, Fenton Schools - Obligated Group, Series 2020A

.000

07/01/40

949,031

3,175,000

(a) California School Finance Authority Charter School Revenue

Bonds, John Adams Academy Obligated Group, Series 2022A

.000

07/01/52

2,927,363

8,125,000

(a) California School Finance Authority Charter School Revenue

Bonds, John Adams Academy Obligated Group, Series 2022A

.125

07/01/62

7,399,216

305,000

(a) California School Finance Authority School Facility Revenue

Bonds, Green Dot Public Schools California Projects, Series

2018A

.000

08/01/48

305,579

9,925,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Alta Public Schools - Obligated Group, Series

2020A

.000

06/01/59

9,015,229

1,710,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Alta Public Schools - Obligated Group, Series

2024

.625

06/01/44

1,591,732

1,225,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Alta Public Schools - Obligated Group, Series

2024

.875

06/01/54

1,116,811

3,375,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Alta Public Schools - Obligated Group, Series

2024

.000

06/01/64

3,033,656

585,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Aspire Public Schools, Refunding Series 2015A

.000

08/01/35

585,058

1,040,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Aspire Public Schools, Refunding Series 2015A

.000

08/01/40

1,040,140

1,600,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Aspire Public Schools, Refunding Series 2016

.000

08/01/41

1,600,039

460,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Aspire Public Schools, Refunding Series 2016

.000

08/01/46

450,739

1,000,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Girls Athletic Leadership School Los Angeles

Project, Series 2021A

.000

06/01/41

825,847

500,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Girls Athletic Leadership School Los Angeles

Project, Series 2021A

.000

06/01/61

340,817

5,000,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Hayward Twin Oaks Montessori Charter School

Project, Series 2024A

.000

06/15/54

4,631,870

5,000,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Hayward Twin Oaks Montessori Charter School

Project, Series 2024A

.125

06/15/64

4,592,277

2,300,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Lighthouse Community Public Schools -

Obligated Group, Series 2022A

.500

06/01/62

2,372,386

1,300,000

California School Finance Authority, California, Charter School

Revenue Bonds, TEACH Public Schools Obligated Group, Series

2016A

.875

06/01/52

1,301,648

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

#### California High Yield Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

1,600,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, TEACH Public Schools Obligated Group, Series

2019A

.000

%

06/01/58

$

1,435,308

2,075,000

(a) California School Finance Authority, Charter School Lease

Revenue Bonds, Pathways to College Project, Series 2023A

.250

06/15/43

2,109,622

6,740,000

(a) California School Finance Authority, Charter School Lease

Revenue Bonds, Pathways to College Project, Series 2023A

.375

06/15/53

6,801,737

2,510,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Arts in Action Charter Schools - Obligated Group, Series

2020A

.000

06/01/40

2,317,121

5,550,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Arts in Action Charter Schools - Obligated Group, Series

2020A

.000

06/01/50

4,684,097

1,600,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Arts in Action Charter Schools - Obligated Group, Series

2020A

.000

06/01/59

1,298,146

1,000,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Aspire Public School - Obligated Group,Issue No.6, Series

2020A

.000

08/01/42

1,003,308

5,315,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Aspire Public School - Obligated Group,Issue No.6, Series

2020A

.000

08/01/61

5,077,339

5,045,000

(a) California School Finance Authority, Charter School Revenue

Bonds, CIty Charter School Obligated Group, Series 2016A

.000

06/01/42

4,881,924

805,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Classical Academies Project, Series 2017A

.000

10/01/44

805,689

235,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Community High School Foundation Inc, Series 2017

.000

06/01/37

235,662

235,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Community High School Foundation Inc, Series 2017

.000

06/01/47

217,305

1,500,000

(a),(c)

California School Finance Authority, Charter School Revenue

Bonds, Downtown College Prep - Obligated Group, Series 2016

.750

06/01/36

900,000

1,180,000

(a),(c)

California School Finance Authority, Charter School Revenue

Bonds, Downtown College Prep - Obligated Group, Series 2016

.000

06/01/46

708,000

1,890,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Envision Education, Series 2024A

.000

06/01/64

1,660,976

1,150,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Ivy Academia, Series 2021A

.000

06/01/41

915,232

1,500,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Ivy Academia, Series 2021A

.000

06/01/51

1,044,654

1,000,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Ivy Academia, Series 2021A

.000

06/01/61

651,243

675,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Kepler Neighborhood School, Series 2017A

.750

05/01/37

679,033

1,135,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Larchmont Charter School Project , Series 2018A

.000

06/01/55

1,023,026

560,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Orange County Educational Arts Academy Project, Series

2023A

.625

06/01/43

563,086

700,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Orange County Educational Arts Academy Project, Series

2023A

.875

06/01/53

701,666

425,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Partnerships to Uplift Communities Project, Refunding

Social Series 2023

.500

08/01/47

427,260

1,350,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Rex and Margaret Fortune School of Education Series

2024A

.000

06/01/54

1,203,029

1,545,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Rex and Margaret Fortune School of Education Series

2024A

.125

06/01/59

1,385,584

2,350,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Rex and Margaret Fortune School of Education Series

2024A

.125

06/01/64

2,080,921

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

2,500,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Rocketship Education - Obligated Group, Series 2016A

.000

%

06/01/46

$

2,339,610

950,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Rocketship Education - Obligated Group, Series 2017A

.125

06/01/47

895,459

1,000,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Rocketship Education - Obligated Group, Series 2017A

.250

06/01/52

935,710

990,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Rocketship Public Schools - Obligated Group, Series

2017G

.000

06/01/37

992,080

925,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Rocketship Public Schools - Obligated Group, Series

2017G

.000

06/01/53

838,694

605,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Russell Westbrook Why Not Academy - Obligated Group,

Series 2021A

.000

06/01/31

585,754

3,000,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Russell Westbrook Why Not Academy - Obligated Group,

Series 2021A

.000

06/01/51

2,240,641

3,000,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Russell Westbrook Why Not Academy - Obligated Group,

Series 2021A

.000

06/01/61

2,109,559

3,000,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Scholarship Prep Public Schools - Obligated Group,

Series 2020A

.000

06/01/60

2,538,669

380,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Scholarship Prep Public Schools - Obligated Group,

Series 2020B

.000

06/01/27

375,308

1,435,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Scholarship Prep Public Schools - Obligated Group,

Series 2023A

.000

06/01/63

1,401,721

490,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Social Bonds - iLead Lancaster Project, Series 2021A

.000

06/01/41

465,259

1,450,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Social Bonds - iLead Lancaster Project, Series 2021A

.000

06/01/51

1,268,791

3,250,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Urban Discovery Academy Project, Series 2024A

.000

06/01/54

2,970,092

335,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Urban Discovery Academy Project, Series 2024B

.000

06/01/34

345,098

1,000,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Valley International Preparatory High School Project,

Series 2022A

.125

03/01/52

732,486

1,000,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Valley International Preparatory High School Project,

Series 2022A

.250

03/01/62

716,068

2,000,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Vibrant Minds Charter School Project, Series 2025

.000

04/15/55

2,019,863

750,000

(a) California School Finance Authority, Educational Facilities

Revenue Bonds, New Designs Charter School Adams Campus

Project, Series 2019A

.000

06/01/40

752,572

650,000

(a) California School Finance Authority, Educational Facilities

Revenue Bonds, New Designs Charter School Adams Campus

Project, Series 2024A

.000

06/01/54

604,901

1,700,000

(a) California School Finance Authority, Educational Facilities

Revenue Bonds, New Designs Charter School Adams Campus

Project, Series 2024A

.000

06/01/64

1,544,728

1,725,000

(a) California School Finance Authority, Educational Facility Revenue

Bonds, River Springs Charter School Project, Series 2017A

.000

07/01/47

1,635,485

1,340,000

(a) California School Finance Authority, Educational Facility Revenue

Bonds, River Springs Charter School Project, Series 2017A

.000

07/01/52

1,240,729

1,215,000

(a) California School Finance Authority, Educational Facility Revenue

Bonds, River Springs Charter School Project, Series 2023A

.750

07/01/42

1,260,695

520,000

California School finance Authority, School Facility Revenue

Bonds, ICEF - View Park Elementary and Middle Schools, Series

2014A

.625

10/01/34

520,135

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

#### California High Yield Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

1,000,000

California School finance Authority, School Facility Revenue

Bonds, ICEF - View Park Elementary and Middle Schools, Series

2014A

.875

%

10/01/44

$

999,463

520,000

California School finance Authority, School Facility Revenue

Bonds, ICEF - View Park Elementary and Middle Schools, Series

2014A

.000

10/01/49

517,881

3,050,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Alliance for College-Ready Public Schools Project, Series

2015A

.125

07/01/35

3,050,775

1,000,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Alliance for College-Ready Public Schools Project, Series

2015A

.000

07/01/45

1,000,184

2,000,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Alliance for College-Ready Public Schools Project, Series

2016C

.000

07/01/46

2,003,686

9,200,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Granada Hills Charter High School Obligated Group,

Series 2019

.000

07/01/54

8,955,164

1,200,000

California School Finance Authority, School Facility Revenue

Bonds, Green Dot Public Schools California Projects, Series

2022A

.375

08/01/42

1,258,164

1,150,000

California School Finance Authority, School Facility Revenue

Bonds, Green Dot Public Schools California Projects, Series

2022A

.750

08/01/52

1,204,321

725,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Value Schools, Refunding Series 2023A

.250

07/01/48

736,156

1,355,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Value Schools, Series 2016A

.000

07/01/51

1,362,632

9,000,000

(b) California State University, Systemwide Revenue Bonds, Series

2024A, (UB)

.000

11/01/49

8,682,774

4,325,000

(a) California Statewide Communities Development Authority

Revenue Bonds, California Baptist University, Refunding Series

2017A

.000

11/01/41

4,329,948

580,000

University of Puerto Rico, University System Revenue Bonds,

Refunding Series 2006P

.000

06/01/30

571,880

125,000

University of Puerto Rico, University System Revenue Bonds,

Series 2006Q

.000

06/01/30

123,250

1,580,000

University of Puerto Rico, University System Revenue Bonds,

Series 2006Q

.000

06/01/36

1,518,337

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

264,434,782

FINANCIAL - 1.3%

12,030,000

(b) City Of Pasadena, California, General Obligation Bonds, Series

2025, (UB)

.000

09/01/54

12,873,103

TOTAL FINANCIAL

12,873,103

HEALTH CARE - 7.9%

6,180,000

Antelope Valley Healthcare District, California, Revenue Bonds,

Series 2016A

.250

03/01/36

6,198,078

5,280,000

Antelope Valley Healthcare District, California, Revenue Bonds,

Series 2016A

.000

03/01/41

5,209,588

3,915,000

Antelope Valley Healthcare District, California, Revenue Bonds,

Series 2016A

.000

03/01/46

3,623,802

2,485,000

(b) California Health Facilities Financing Authority, Revenue Bonds,

City of Hope National Medical Center, Series 2019

.000

11/15/49

2,495,397

7,800,000

(b) California Health Facilities Financing Authority, Revenue Bonds,

Lucile Salter Packard Children's Hosptial at Stanford, Series

2017A, (UB)

.000

11/15/56

7,869,266

1,455,000

California Municipal Finance Authority, Revenue Bonds, Clinicas

del Camino Real, Inc., Series 2020

.000

03/01/28

1,453,562

2,000,000

(a) California Municipal Finance Authority, Revenue Bonds,

Community Health Centers of the Central Coast, Inc., Series

2021A

.000

12/01/46

1,957,006

5,480,000

California Municipal Finance Authority, Revenue Bonds, NorthBay

Healthcare Group, Series 2017A

.250

11/01/41

5,500,338

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

8,200,000

California Municipal Finance Authority, Revenue Bonds, NorthBay

Healthcare Group, Series 2017A

.000

%

11/01/47

$

7,776,521

1,000,000

California Municipal Finance Authority, Revenue Bonds, NorthBay

Healthcare Group, Series 2017A

.250

11/01/47

1,000,975

1,565,000

(b) California Municipal Financing Authority, Certificates of

Participation, Palomar Health, Series 2022A

.250

11/01/52

1,613,469

16,700,000

California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2014A

.500

12/01/54

16,738,214

2,055,000

(a) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.000

12/01/41

2,060,767

2,280,000

(a) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.250

12/01/56

2,280,231

315,000

(a) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.250

12/01/48

316,386

6,100,000

Oroville, California, Revenue Bonds, Oroville Hospital Series

2019

.250

04/01/54

4,514,575

1,500,000

Palomar Pomerado Health Care District, California, Certificates of

Participation, Series 2017

.000

11/01/47

1,037,442

2,245,000

Palomar Pomerado Health System, California, Revenue Bonds,

Refunding Series 2016

.000

11/01/36

2,102,598

4,790,000

Palomar Pomerado Health System, California, Revenue Bonds,

Refunding Series 2016

.000

11/01/39

4,407,733

200,000

Washington Township Health Care District, California, Revenue

Bonds, Series 2017A

.000

07/01/42

200,524

TOTAL HEALTH CARE

78,356,472

HOUSING/MULTIFAMILY - 16.9%

8,750,000

(a) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Glendale Properties, Junior Series

2021A-2

.000

08/01/47

6,737,254

22,495,000

(a) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Serenity at Larkspur Apartments, Series

2020A

.000

02/01/50

14,635,132

4,960,000

(a) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Summit at Sausalito Apartments, Series

2021A-2

.000

02/01/50

3,779,666

5,880,000

(a) California Community Housing Agency, California, Essential

Housing Revenue Bonds, The Arbors, Series 2020A

.000

08/01/50

5,524,229

18,480,000

(a) California Community Housing Agency, Workforce Housing

Revenue Bonds, Annadel Apartments, Series 2019A

.000

04/01/49

14,982,943

1,000,000

California Housing Finance Agency, California, Multifamily

Housing Revenue Bonds, Power Station Block 7B, Limited

Obligation Senior Series 2024L

.200

12/01/27

1,016,314

1,585,000

(a) California Housing Finance Agency, Multifamily Housing

Revenue Bonds, Redwood Gardens Apartments, Subordinate

Lien Series 2021N-S

.000

03/01/37

1,392,023

57,573

California Housing Finance Agency, Municipal Certificate

Revenue Bonds, Class A Series2019-1

.250

01/15/35

59,611

8,282,191

California Housing Finance Agency, Municipal Certificate

Revenue Bonds, Class A Social Certificates Series 2023-1

.375

09/20/36

8,567,930

7,285,390

(d) California Municipal Finance Agency, Municipal Certificates,

Series 2025-2 Class A-1

.325

11/20/40

7,312,178

2,375,000

California Municipal Finance Authority, Mobile Home Park

Revenue Bonds, Royal York Estates Projects Series 2020A

.000

02/15/55

1,865,290

2,980,000

(a) California Municipal Finance Authority, Revenue Bonds, Catalyst

Impact Fund 1 LLC Series 2024-II

.000

01/01/39

3,115,169

1,335,000

(a) California Public Finance Authority, University Housing Revenue

Bonds, National Campus Community Development - Claremont

Properties LLC Claremont Colleges Project, Refunding Series

2023A

.500

07/01/50

1,388,428

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

#### California High Yield Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

1,715,000

(a) California Public Finance Authority, University Housing Revenue

Bonds, National Campus Community Development - Claremont

Properties LLC Claremont Colleges Project, Refunding Series

2023A

.000

%

07/01/53

$

1,857,807

450,000

(a) California Statewide Communities Development Authority,

College Housing Revenue Bonds, National Campus Community

Development - Hooper Street LLC Project, Series 2019

.250

07/01/52

443,311

4,600,000

(a) California Statewide Communities Development Authority,

Revenue Bonds, Lancer Educational Student Housing Project,

Refunding Series 2016A

.000

06/01/36

4,613,410

2,090,000

(a) California Statewide Communities Development Authority,

Revenue Bonds, Lancer Educational Student Housing Project,

Refunding Series 2016A

.000

06/01/46

2,010,436

6,885,000

(a) CMFA Special Finance Agency I, California, Essential Housing

Revenue Bonds, The Mix at Center City, Series 2021A-2

.000

04/01/56

5,278,214

1,000,000

(a) CMFA Special Finance Agency I, California, Essential Housing

Revenue Bonds, The Mix at Center City, Subordinate Series

2021B

.000

04/01/56

793,942

1,000,000

(a) CMFA Special Financing Agency VIII, California, Essential

Housing Revenue Bonds, Elan Huntington Beach, Senior Lien

Series 2021A-1

.000

08/01/56

677,346

2,905,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, 1818 Platinum Triangle-Anaheim,

Mezzanine Lien Series 2021B

.000

04/01/57

2,133,947

18,730,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Altana Glendale, Series 2021A-1

.500

10/01/46

16,217,033

5,000,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Altana Glendale, Series 2021A-2

.000

10/01/56

4,156,840

3,375,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Center City Anaheim, Series 2020A

.000

01/01/54

3,076,682

2,000,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Escondido Portfolio, Social Senior Lien

Series 2021A-2

.000

06/01/58

1,586,272

5,915,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Link-Glendale, Series 2021A-2

.000

07/01/56

4,580,231

22,760,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Moda at Monrovia Station, Social Series

2021A-2

.000

10/01/56

17,469,729

9,360,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Monterrey Station Apartments, Senior

Lien Series 2021A-1

.125

07/01/56

6,107,990

2,000,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Monterrey Station Apartments, Series

2021B

.000

07/01/58

1,284,488

4,000,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Oceanaire-Long Beach, Social Series

2021A-2

.000

09/01/56

2,874,492

2,110,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Pasadena Portfolio Social Bond,

Mezzanine Senior Series 2021B

.000

12/01/56

1,616,147

2,500,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Union South Bay, Series 2021A-2

.000

07/01/56

2,043,273

2,625,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Vineyard Gardens Apartments, Senior

Lien Series 2021A

.250

10/01/58

1,855,162

5,050,000

(a) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Westgate Phase 1-Pasadena

Apartments, Senior Lien Series 2021A-2

.125

06/01/57

3,050,617

2,000,000

CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Wood Creek Apartments, Mezzanine

Lien Series 2021A-2

.000

12/01/58

1,419,475

2,145,000

CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Wood Creek Apartments, Mezzanine

Lien Series 2021B

.000

12/01/59

1,185,458

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

6,155,000

CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Wood Creek Apartments, Senior Lien

Series 2021A-1

.000

%

12/01/49

$

4,177,171

1,000,000

Independent Cities Finance Authority, California, Mobile Home

Park Revenue Bonds, Palomar Estates West, Refunding Series

2015

.000

09/15/36

1,000,715

315,000

La Verne, California, Mobile Home Park Revenue Bonds,

Copacabana Mobile Home Park, Refunding Series 2014

.000

06/15/49

315,090

2,110,000

Palmdale Housing Authority, California, Multifamily Housing

Revenue Bonds, Impression, La Quinta, Park Vista &

Summerwood Apartments, Series 2015

.250

06/01/45

1,993,004

12,220,000

(a),(e)

Santa Barbara Housing Authority,California, Capital Appreciation

Housing Revenue Bonds, Subordinate Multifamily Bonds,

Jacaranda Court Series 2025A-S

.000

05/01/44

2,895,830

390,000

Santa Clara County Housing Authority, California, Multifamily

Housing Revenue Bonds, Blossom River Project, Series 1998A,

(AMT)

.500

09/01/39

390,024

TOTAL HOUSING/MULTIFAMILY

167,480,303

TAX OBLIGATION/GENERAL - 9.5%

1,115,000

Denair Unified School District, Stanislaus County, California,

General Obligation Bonds, Series 2002A - FGIC Insured

.000

08/01/26

1,093,390

1,205,000

Jamul Dulzura Union School District, San Diego County,

California, General Obligation Bonds, Election 1995 Series

2004A - NPFG Insured

.000

11/01/28

1,106,058

5,000,000

(b) Oakland Unified School District, Alameda County, California,

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

Insured, (UB)

.250

08/01/48

5,380,835

5,000,000

(b) Oxnard School District, Ventura County, California, General

Obligation Bonds, Election of 2022 Series 2023A - BAM Insured,

(UB)

.125

08/01/50

4,858,964

1,350,000

Paso Robles Joint Unified School District, San Luis Obispo

and Monteray Counties, California, General Obligation Bonds,

Election 2006 Series 2010A

.000

09/01/34

1,034,864

9,470,000

(b) Pittsburg Unified School District, Contra Costa County, California,

General Obligation Bonds, Refunding Series 2016, (UB)

.000

08/01/44

9,420,307

2,000,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

1,441,943

11,187,234

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/41

10,344,864

8,890,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/46

7,910,198

5,750,000

(b) San Diego Public Facilities Financing Authority, California, Lease

Revenue Bonds, Capital Improvement Projects, Series 2021A,

(UB)

.000

10/15/50

5,565,415

11,500,000

(b) San Francisco Bay Area Rapid Transit District, California, General

Obligation Bonds Election of 2016 Green Series 2022D-1, (UB)

.250

08/01/52

11,446,243

5,000,000

(b) San Luis Coastal Unified School District, San Luis Obispo County,

California, General Obligation Bonds, Election of 2022 Series

2023A, (UB)

.000

08/01/53

4,845,939

17,585,000

(b) Santa Ana Unified School District, Orange County, California,

General Obligation Bonds, 2018 Election Series 2022C, (UB)

.250

08/01/50

17,506,388

12,460,000

(b) Washington Township Health Care District, Alameda County,

California, General Obligation Bonds, 2012 Election Series

2015B, (UB)

.000

08/01/45

12,174,269

TOTAL TAX OBLIGATION/GENERAL

94,129,677

TAX OBLIGATION/LIMITED - 31.9%

1,000,000

Adelanto Community Facilities District Number 2006-2, San

Bernadino County, California, Special Tax Bonds, Series 2015A

.000

09/01/45

1,000,279

850,000

Alameda Community Facilities District No. 22-1, California,

Alameda Marina, Special Tax Bonds, Green Series 2023

.000

09/01/48

867,972

1,250,000

Alameda Community Facilities District No. 22-1, California,

Alameda Marina, Special Tax Bonds, Green Series 2023

.000

09/01/53

1,271,469

330,000

Anaheim Public Financing Authority, California, Lease Revenue

Bonds, Public Improvement Project, Series 1997C - AGM Insured

.000

09/01/28

304,935

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

#### California High Yield Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

240,000

Anaheim Public Financing Authority, California, Lease Revenue

Bonds, Public Improvement Project, Series 1997C - AGM Insured

.000

%

09/01/30

$

209,141

4,475,000

Anaheim Public Financing Authority, California, Lease Revenue

Bonds, Public Improvement Project, Series 1997C - AGM Insured

.000

09/01/34

3,383,424

1,985,000

Anaheim Public Financing Authority, California, Lease Revenue

Bonds, Public Improvement Project, Series 1997C - AGM Insured

.000

09/01/35

1,438,172

660,000

Beaumont Unified School District, California, Special Tax Bonds,

Community Facilities District 2020-1, Improvement Area 2 Series

2023

.000

09/01/48

677,419

875,000

Beaumont Unified School District, California, Special Tax Bonds,

Community Facilities District 2020-1, Improvement Area 2 Series

2023

.000

09/01/53

891,041

1,900,000

Blythe Redevelopment Agency Successor Agency, California, Tax

Allocation Bonds, Redevelopment Project 1, Refunding Series

2015

.000

05/01/38

1,901,579

1,500,000

Brea Redevelopment Agency, Orange County, California, Tax

Allocation Bonds, Project Area AB, Series 2003 - AMBAC Insured

.000

08/01/28

1,388,769

1,700,000

Brentwood Infrastructure Financing Authority, California,

Infrastructure Revenue Bonds, Refunding Subordinated Series

2014B

.000

09/02/36

1,700,882

3,605,000

California Community College Financing Authority, Lease

Revenue Bonds, Refunding Series 2003 - AMBAC Insured

.000

06/01/33

2,690,440

3,975,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2022C

.250

09/01/52

4,260,257

3,000,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2022D

.125

09/01/52

3,202,581

1,000,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2024A

.125

09/01/54

1,018,216

1,070,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2024B

.000

09/01/49

1,080,824

545,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2024C

.000

09/01/44

559,465

885,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2024C

.000

09/01/49

900,267

540,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2024C

.700

09/01/54

521,049

1,000,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2024C

.000

09/01/54

1,012,715

1,000,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2024D

.000

09/01/49

1,018,685

1,000,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2024D

.000

09/01/54

1,011,290

1,000,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2020-06, Series 2022B

.000

09/01/52

1,063,291

2,160,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2020-6, County of Placer-

PV400, Series 2022

.250

09/01/52

2,219,166

500,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2022-8 City of Palmdale -

Wildflower/Creekside Encore Series 2024

.000

09/01/49

508,625

340,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-11 Improvement Area

A Hesperia Silverwood, Series 2024

.000

09/01/49

345,136

800,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-11 Improvement Area

A Hesperia Silverwood, Series 2024

.000

09/01/54

809,032

1,835,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-5 Sacramento County-

The GAP Improvement Area 1, Series 2024

.000

09/01/49

1,866,655

2,665,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-5 Sacramento County-

The GAP Improvement Area 1, Series 2024

.000

09/01/54

2,695,089

1,040,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-5 Sacramento County-

The GAP Improvement Area 2, Series 2025

.000

09/01/50

1,058,467

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

1,100,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-5 Sacramento County-

The GAP Improvement Area 2, Series 2025

.000

%

09/01/55

$

1,115,246

400,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-5, Improvement Area

1 Series 2023

.250

09/01/43

421,976

1,060,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Community Facilities District 2023-5, Improvement Area

1 Series 2023

.625

09/01/53

1,117,437

330,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2007-1 Orinda

Wilder Project, Refunding Series 2015

.000

09/01/37

330,316

875,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2012-02,

Manteca Lifestyle Center, Series 2013A

.000

09/01/33

876,099

2,000,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2012-02,

Manteca Lifestyle Center, Series 2013A

.125

09/01/42

2,001,177

2,500,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2015-2 Rio

Bravo, Series 2015A

.625

09/01/45

2,501,945

1,200,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2018-02,

McSweeny, Improvement Area 1 Series 2023

.250

09/01/53

1,239,308

340,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2020-02

Improvement Area 2 Atwell, Series 2022

.250

09/01/52

349,313

475,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2020-02

Improvement Area 3 Atwell, Series 2024

.000

09/01/49

485,816

650,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2020-02

Improvement Area 3 Atwell, Series 2024

.000

09/01/54

661,688

2,400,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2020-02

Improvement Area 4 Atwell, Series 2024

.000

09/01/55

2,445,954

2,000,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2021-02 Citro,

Series 2023

.000

09/01/53

2,038,601

1,635,000

California Statewide Communities Development Authority,

Special Tax Bonds, Community Facilities District 2022-07,

Improvement Area Number 1, Watson Ranch, Series 2023

.000

09/01/53

1,669,753

3,510,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Refunding Series 2015R-1

.000

09/02/35

3,513,908

1,120,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Refunding Series 2015R-1

.000

09/02/40

1,120,771

450,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2011A

.000

09/02/41

450,010

2,275,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2014A

.000

09/02/43

2,276,499

2,060,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2014B

.000

09/02/44

2,060,717

480,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2017A

.000

09/02/46

483,977

375,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2017B

.000

09/02/47

378,954

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

#### California High Yield Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

920,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2018B

.000

%

09/02/48

$

931,949

725,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2019C

.000

09/02/44

733,677

1,495,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2022C

.125

09/02/42

1,530,116

1,990,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2022C

.375

09/02/52

2,052,948

3,965,000

California Statewide Communities Development Authority,

Statewide Infrastructure Program Revenue Bonds, Series 2020C

.000

09/02/40

3,875,340

1,085,000

Cathedral City Public Financing Authority, California, Tax

Allocation Bonds, Merged Redevelopment Project, Series 2000A

- NPFG Insured

.000

08/01/33

834,499

740,000

Chino, California, Special Tax Bonds, Community Facilities District

2003-3 Improvement Area 10, Series 2024.

.000

09/01/54

753,642

215,000

Compton Public Finance Authority, California, Lease Revenue

Bonds, Refunding & Various Capital Projects, Series 2008 -

AMBAC Insured

.250

09/01/27

215,181

210,000

Compton Public Finance Authority, California, Lease Revenue

Bonds, Refunding & Various Capital Projects, Series 2008 -

AMBAC Insured

.000

09/01/32

210,111

670,000

Corona, California, Special Tax Bonds, Community Facilities

District 2002-1 Dos Lagos Improvement Area 1, Refunding Series

2017

.000

09/01/37

685,570

345,000

Corona, California, Special Tax Bonds, Community Facilities

District 2018-2 Sierra Bella, Series 2022A

.000

09/01/51

350,719

625,000

Dixon, California, Special Tax Bonds, Community Facilities District

2019-1 Homestead, Improvement Area 2, Series 2024

.000

09/01/46

646,030

1,000,000

Dixon, California, Special Tax Bonds, Community Facilities District

2019-1 Homestead, Improvement Area 2, Series 2024

.000

09/01/54

1,020,590

1,000,000

Dublin Community Facilities District 2015-1 Dublin Crossing,

California, Special Tax Bonds, Improvement Area 4, Series 2022

.500

09/01/47

1,053,740

1,000,000

Dublin Community Facilities District 2015-1 Dublin Crossing,

California, Special Tax Bonds, Improvement Area 4, Series 2022

.500

09/01/51

1,045,783

1,250,000

Dublin Community Facilities District 2015-1 Dublin Crossing,

California, Special Tax Bonds, Improvement Area 5, Series 2023

.375

09/01/51

1,297,551

6,300,000

Dublin Community Facilities District 2015-1 Dublin Crossing,

California, Special Tax Bonds, Improvement Area 2, Series 2019

.000

09/01/39

6,535,346

250,000

El Dorado County, California, Special Tax Bonds, Community

Facilities District 2005-2, Series 2006

.100

09/01/36

250,931

1,685,000

(a) Elsinore Valley Municipal Water District, California, Special Tax

Bonds, Community Facilities District 2020-1 Horsethief Area 1A,

Series 2021A

.000

09/01/41

1,602,213

1,245,000

(a) Elsinore Valley Municipal Water District, California, Special Tax

Bonds, Community Facilities District 2020-1 Horsethief Area 1A,

Series 2021A

.000

09/01/51

1,082,124

1,565,000

(a) Elsinore Valley Municipal Water District, California, Special

Tax Bonds, Community Facilities District 2020-1 Horsethief

Improvement Area 2A, Series 2021A

.000

09/01/41

1,488,108

2,325,000

(a) Elsinore Valley Municipal Water District, California, Special

Tax Bonds, Community Facilities District 2020-1 Horsethief

Improvement Area 2A, Series 2021A

.000

09/01/51

2,023,907

430,000

Fairfield, California, Special Tax Bonds, Community Facilities

District 2007-1 Fairfield Commons Project, Series 2008

.875

09/01/38

433,040

1,250,000

Folsom Ranch Financing Authority, California, Special Tax

Revenue Bonds, Folsom Community Facilities District 20 Russell

Ranch, Series 2020

.125

09/01/47

1,292,414

1,300,000

Folsom Ranch Financing Authority, California, Special Tax

Revenue Bonds, Folsom Community Facilities District 20 Russell

Ranch, Series 2020

.125

09/01/52

1,336,144

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

1,075,000

Folsom Ranch Financing Authority, California, Special Tax

Revenue Bonds, Folsom Community Facilities District 23 Folsom

Ranch Improvement Area 1, Series 2020

.000

%

09/01/45

$

996,613

4,000,000

Folsom Ranch Financing Authority, California, Special Tax

Revenue Bonds, Folsom Community Facilities District 23 Folsom

Ranch Improvement Area 1, Series 2022

.000

09/01/52

4,070,925

400,000

Folsom Ranch Financing Authority, California, Special Tax

Revenue Bonds, Folsom Community Facilities District 23 Folsom

Ranch Improvement Area 2, Series 2024

.000

09/01/49

407,544

460,000

Folsom Ranch Financing Authority, California, Special Tax

Revenue Bonds, Folsom Community Facilities District 23 Folsom

Ranch Improvement Area 2, Series 2024

.000

09/01/53

467,981

1,000,000

Folsom Ranch Financing Authority, California, Special Tax

Revenue Bonds, Folsom Community Facilities District 23 Folsom

Ranch Improvement Area 4, Series 2024

.000

09/01/49

1,024,446

1,000,000

Folsom Ranch Financing Authority, California, Special Tax

Revenue Bonds, Folsom Community Facilities District 23 Folsom

Ranch Improvement Area 4, Series 2024

.000

09/01/54

1,019,871

1,000,000

Folsom Ranch Financing Authority, California, Special Tax

Revenue Bonds, Series 2022

.000

09/01/52

1,017,731

500,000

Folsom, California, Special Tax Bonds, Community Facilities

District 16 Islands at Parkshore Improvement Area 1, Series 2018

.000

09/01/43

465,316

375,000

Fontana, California, Special Tax Bonds, Community Facilities

District 106, Mountain View, Series 2022

.250

09/01/38

382,227

500,000

Fontana, California, Special Tax Bonds, Community Facilities

District 106, Mountain View, Series 2022

.500

09/01/43

500,417

3,000,000

Fontana, California, Special Tax Bonds, Community Facilities

District 112 The Gardens Phase One, Series 2024

.000

09/01/49

3,066,844

2,620,000

Fontana, California, Special Tax Bonds, Community Facilities

District 112 The Gardens Phase One, Series 2024

.000

09/01/54

2,666,420

1,000,000

Hemet Unified School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 2021-7, Series

2023

.000

09/01/43

1,043,349

1,000,000

Hemet Unified School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 2021-7, Series

2023

.000

09/01/53

1,018,650

1,030,000

Imperial, California, Special Tax Bonds, Community Facilities

District 2005-1 Springfield, Series 2015A

.000

09/01/36

1,031,064

155,000

Indio Redevelopment Agency, California, Tax Allocation Bonds,

Merged Area Redevelopment Project, Subordinate Lien

Refunding Series 2008A

.250

08/15/28

155,397

3,380,000

Jurupa Unified School District, California, Special Tax Bonds,

Community Facilities District 9, Series 2015A

.000

09/01/45

3,383,761

1,220,000

Lake Elsinore Unified School District, California, Special Tax

Bonds, Community Facilities District 2004-2, Series 2005

.350

09/01/35

1,225,851

475,000

Lake Elsinore, California, Special Tax Bonds, Community Facilities

District 2006-1 Summerly Improvement Area KK, Series 2021

.000

09/01/42

449,733

600,000

Lammersville Joint Unified School District, San Joaquin County,

California, Special Tax Bonds, Community Facilities District 2014-

1 Improvement Area 1 Mountain House School Facilities, Series

2017

.000

09/01/47

603,803

595,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement Areas

5, Series 2019

.650

09/01/38

611,885

945,000

Lathrop, California, Special Tax Bonds, Community Facilities

District 2018-1 Central Lathrop Specific Plan Improvement Areas

5, Series 2019

.750

09/01/43

956,500

925,000

Lincoln, California, Special Tax Bonds, Community Facilities

District 2005-1 Sorrento Project, Series 2014A

.000

09/01/39

925,663

1,815,000

Lincoln, California, Special Tax Bonds, Community Facilities

District 2005-1 Sorrento Project, Series 2014A

.000

09/01/43

1,815,707

1,750,000

Los Angeles County Community Facilities District 2021-01,

California, Special Tax Bond, Valencia-Facilities Improvement

Area 1, Series 2022

.000

09/01/47

1,796,784

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

#### California High Yield Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

8,660,000

Madera County, California, Special Tax Bonds, Community

Facilities District 2021-1 Tesoro Viejo II Improvement Area 1,

Series 2022

.750

%

09/01/53

$

9,088,715

2,022,000

Manteca Unified School District, San Joaquin County, California,

Certificates of Participation, Series 2004 - NPFG Insured

.000

09/15/33

1,596,536

3,000,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/39

3,114,636

500,000

Menifee Union School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 2006-1, Series

2014

.125

09/01/39

500,002

500,000

Menifee Union School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 2006-1, Series

2014

.250

09/01/44

477,738

1,325,000

Menifee Union School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 2011-1,

Improvement Area 7, Series 2021

.125

09/01/47

1,367,625

2,000,000

Menifee Union School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 2011-1,

Improvement Area 7, Series 2021

.250

09/01/52

2,066,439

1,000,000

Menifee Union School District, Riverside County, California,

Special Tax Bonds, Community Facilties District 2016-1,

Improvement Area B, Series 2022

.625

09/01/52

969,438

750,000

Menifee, California, Special Tax Bonds, Community Facilities

District 2021-1, Banner Park Series 2023A

.000

09/01/53

760,282

700,000

Menifee, California, Special Tax Bonds, Community Facilities

District 2022-1, Quartz Ranch Series 2023A

.000

09/01/48

718,930

1,000,000

Menifee, California, Special Tax Bonds, Community Facilities

District 2022-1, Quartz Ranch Series 2023A

.000

09/01/53

1,015,404

2,095,000

Menifee, California, Special Tax Bonds, Community Facilities

District 2023-1, Rockport Ranch Series 2024

.000

09/01/49

2,144,701

825,000

Murrieta, California, Special Tax Bonds, Community Facilities

District 2005-5 Golden City Improvement Area A, Series 2017

.000

09/01/46

831,410

980,480

(c) Northstar Community Services District, California, Special Tax

Bonds, Community Facilities District 1, Refunding Series 2005

.908

09/01/28

254,925

2,926,584

(c) Northstar Community Services District, California, Special Tax

Bonds, Community Facilities District 1, Refunding Series 2005

.943

09/01/36

760,912

1,250,000

Oceanside, California, Special Tax Bonds, Community Facilities

District 2006-1, Pacific Coast Business Park, Series 2017

.000

09/01/38

1,273,788

1,200,000

Ontario, California, Special Tax Bonds, Community Facilities

District 28 New Haven Facilities - Area A, Series 2017

.000

09/01/47

1,208,207

845,000

Ontario, California, Special Tax Bonds, Community Facilities

District 55 Parklane Facilities, Series 2022

.000

09/01/53

858,535

350,000

Orange County, California, Special Tax Bonds, Community

Facilities District 2021-1 Rienda, Series 2022A

.000

08/15/42

366,746

3,400,000

Orange County, California, Special Tax Bonds, Community

Facilities District 2021-1 Rienda, Series 2022A

.000

08/15/47

3,494,347

500,000

Orange County, California, Special Tax Bonds, Community

Facilities District 2023-1 Rienda Phase 2B, Series 2023A

.500

08/15/53

522,977

1,230,000

Palmdale Community Redevelopment Agency, California, Tax

Allocation Bonds, Merged Redevelopment Project Areas, Series

2002 - AMBAC Insured

.000

12/01/30

1,062,235

2,990,000

Pittsburg Redevelopment Agency, California, Tax Allocation

Bonds, Los Medanos Community Development Project, Series

1999 - AMBAC Insured

.000

08/01/27

2,842,104

2,610,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.536

07/01/53

2,380,651

2,670,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.784

07/01/58

2,520,666

1,200,000

Rancho Cardova, California, Special Tax Bonds, Community

Facilities District 2005-1 Sunridge North Douglas Series 2015

.000

09/01/40

1,200,798

1,590,000

Rancho Cordova, California, Special Tax Bonds, Communities

Facilities District 2014-1 Montelena, Series 2022

.000

09/01/42

1,645,775

250,000

Rancho Cordova, California, Special Tax Bonds, Community

Facilities District 2022-1 Arista Del Sol, Improvement Area 1

Series 2023

.000

09/01/38

266,423

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

525,000

Rancho Cordova, California, Special Tax Bonds, Community

Facilities District 2022-1 Arista Del Sol, Improvement Area 1

Series 2023

.125

%

09/01/43

$

546,846

1,300,000

Rancho Cordova, California, Special Tax Bonds, Community

Facilities District 2022-1 Arista Del Sol, Improvement Area 1

Series 2023

.375

09/01/53

1,349,480

585,000

Rancho Cordova, California, Special Tax Bonds, The Ranch

Community Facilities District 2021-1, Improvement Area No. 3,

Series 2025

.000

09/01/45

599,306

850,000

Rancho Cordova, California, Special Tax Bonds, The Ranch

Community Facilities District 2021-1, Improvement Area No. 3,

Series 2025

.000

09/01/50

864,430

1,085,000

Rancho Cordova, California, Special Tax Bonds, The Ranch

Community Facilities District 2021-1, Improvement Area No. 3,

Series 2025

.000

09/01/55

1,100,038

1,400,000

Rancho Mirage, California, Special Tax Bonds, Community

Facilities District 5 Section 31, Improvement Area 1 Series 2024A

.000

09/01/54

1,415,806

1,755,000

Redwood City Redevelopment Agency, California, Tax Allocation

Bonds, Project Area 2, Series 2003A - AMBAC Insured

.000

07/15/29

1,570,961

1,260,000

Redwood City Redevelopment Agency, California, Tax Allocation

Bonds, Project Area 2, Series 2003A - AMBAC Insured

.000

07/15/31

1,057,523

1,185,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area 1,

Refunding Series 2022A-1 - AGM Insured

.250

09/01/47

1,159,238

1,000,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area 1,

Subordinate Series 2022B-2

.000

09/01/42

1,029,727

1,525,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area 1,

Subordinate Series 2022B-2

.250

09/01/47

1,558,355

2,015,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area 1,

Subordinate Series 2022B-2

.000

09/01/52

2,018,363

1,000,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2019-1 Phase 2 Public

Improvements, Series 2019

.000

09/01/46

864,844

4,600,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2023-1 Improvement Area 3

Public Facilities, Series 2025

.000

09/01/50

4,628,170

6,500,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2023-1 Improvement Area 3

Public Facilities, Series 2025

.000

09/01/55

6,519,806

1,295,000

Riverside County Asset Leasing Corporation, California,

Leasehold Revenue Bonds, Riverside County Hospital Project,

Series 1997 - NPFG Insured

.000

06/01/26

1,277,515

2,115,000

Riverside County, California, Special Tax Bonds, Community

Facilities District 03-1 Newport Road, Series 2014

.000

09/01/30

2,122,596

2,000,000

Riverside Unified School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 38, Series 2025

.000

09/01/50

2,040,206

3,740,000

Riverside Unified School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 38, Series 2025

.000

09/01/55

3,797,655

1,500,000

Riverside Unified School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 40, Series 2025A

.000

09/01/45

1,542,306

2,375,000

Riverside Unified School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 40, Series 2025A

.000

09/01/50

2,420,479

2,000,000

Riverside Unified School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 40, Series 2025A

.000

09/01/55

2,032,561

1,010,000

Rocklin Unified School District, Placer County, California, Special

Tax Bonds, Community Facilities District 2, Series 2007 - NPFG

Insured

.000

09/01/34

758,392

1,155,000

Rocklin Unified School District, Placer County, California, Special

Tax Bonds, Community Facilities District 2, Series 2007 - NPFG

Insured

.000

09/01/35

835,217

935,000

Rohnert Park Community Development Agency, California, Tax

Allocation Bonds, Series 1999

.000

08/01/33

732,264

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

#### California High Yield Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

2,635,000

Romoland School District, California, Special Tax Bonds,

Community Facilities District 2004-1 Heritage Lake Improvement

Area 3, Series 2013

.000

%

09/01/43

$

2,636,006

480,000

Roseville, California, Special Tax Bonds, Community Facilities

District 1 Creekview Improvement Area 2, Series 2023

.000

09/01/43

494,807

1,500,000

Roseville, California, Special Tax Bonds, Community Facilities

District 1 Creekview Improvement Area 2, Series 2023

.250

09/01/53

1,546,359

1,050,000

Roseville, California, Special Tax Bonds, Community Facilities

District 1 Hewlett Parkard Campus Oaks, Series 2016

.500

09/01/46

1,057,124

1,000,000

Roseville, California, Special Tax Bonds, Community Facilities

District 1 Ranch at Sierra Vista, Public Facilities Series 2023

.000

09/01/43

1,034,031

1,150,000

Roseville, California, Special Tax Bonds, Community Facilities

District 1 Ranch at Sierra Vista, Public Facilities Series 2023

.000

09/01/53

1,172,196

625,000

Roseville, California, Special Tax Bonds, Community Facilities

District 1 Villages at Sierra Vista, Series 2022

.500

09/01/52

596,042

1,100,000

Roseville, California, Special Tax Bonds, Community Facilities

District 1 Westbrook, Series 2014

.000

09/01/34

1,101,334

1,500,000

(a) Roseville, California, Special Tax Bonds, Community Facilities

District 5 Fiddyment Ranch Public Facilities, Series 2017

.000

09/01/47

1,509,757

2,500,000

(e) Roseville, California, Special Tax Bonds, Creekview Phase 5

Community Facilities District 1, Series 2025

.000

09/01/50

2,517,228

1,500,000

(e) Roseville, California, Special Tax Bonds, Creekview Phase 5

Community Facilities District 1, Series 2025

.000

09/01/55

1,505,719

2,755,000

Roseville, California, Special Tax Bonds, SVSP Westpark-Federico

Community Facilities District 1, Series 2022

.000

09/01/52

2,807,042

230,000

Sabal Palm Community Development District, Florida, Special

Assessment Bonds, Series 2016

.500

11/01/46

231,224

1,510,000

(a),(b)

Sacramento City Financing Authority California, Lease Revenue

Bonds, Master Lease Program Facilities Projects, Tender Option

Bond Trust 2016-XG0100 - AMBAC Insured, (IF)

.170

12/01/33

2,613,465

4,295,000

Sacramento City Financing Authority, California, Tax Allocation

Revenue Bonds, Merged Downtown Sacramento and Oak Park

Projects, Series 2005A - FGIC Insured

.000

12/01/31

3,566,427

4,435,000

Sacramento City Financing Authority, California, Tax Allocation

Revenue Bonds, Merged Downtown Sacramento and Oak Park

Projects, Series 2005A - FGIC Insured

.000

12/01/32

3,547,610

240,000

Sacramento, California, Special Tax Bonds, Community Facilities

District 05-1 College Square, Series 2007

.900

09/01/37

241,350

1,900,000

(a) Sacramento, California, Special Tax Bonds, North Natomas

Community Facilities District 7, Series 2017-01

.000

09/01/47

1,910,772

428,000

(c) Saint Louis, Missouri, Tax Increment Financing Revenue Bonds,

Grace Lofts Redevelopment Projects, Series 2007A

.100

12/31/26

12,840

1,485,000

San Bernardino Community Facilities District Number 2020-1,

California, Special Tax Bonds, Series 2022

.500

09/01/52

1,367,961

345,000

San Bernardino County Financing Authority, California, Revenue

Bonds, Courthouse Facilities Project, Series 2007 - NPFG Insured

.500

06/01/37

363,814

550,000

San Bernardino County, California, Special Tax Bonds,

Community Facilities District 2006-1 Lytle Creek North

Improvement Area 1, Series 2015

.000

09/01/40

550,361

905,000

(a) San Francisco City and County Infrastructure and Revitalization

Financing District 1 Treasure Island, California, Tax Increment

Revenue Bonds, Facilities Increment Series 2023A

.000

09/01/43

891,903

1,525,000

(a) San Francisco City and County Infrastructure and Revitalization

Financing District 1 Treasure Island, California, Tax Increment

Revenue Bonds, Facilities Increment Series 2023A

.500

09/01/53

1,538,367

2,250,000

(a),(e)

San Francisco City and County Infrastructure and Revitalization

Financing District 1 Treasure Island, California, Tax Increment

Revenue Bonds, Facilities Increment Series 2025A

.000

09/01/55

2,222,640

2,100,000

(a),(e)

San Francisco City and County Infrastructure and Revitalization

Financing District 1 Treasure Island, California, Tax Increment

Revenue Bonds, Housing Increment Series Series 2025B

.000

09/01/55

2,058,677

1,500,000

(a) San Francisco City and County Infrastructure and Revitalization

Financing District 1 Treasure Island, California, Tax Increment

Revenue Bonds, Housing Increment Series 2022B

.000

09/01/52

1,438,149

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

780,000

San Francisco City and County Redevelopment Agency

Successor Agency, California, Special Tax Bonds, Community

Facilities District 7, Hunters Point Shipyard Phase One

Improvements, Refunding Series 2014

.000

%

08/01/39

$

781,226

1,250,000

San Francisco City and County Redevelopment Agency

Successor Agency, California, Tax Allocation Bonds, Mission Bay

South Redevelopment Project, Series 2014A

.000

08/01/43

1,250,691

1,450,000

(a) San Francisco City and County Special Tax District 2020-1,

California, Special Tax Bonds, Mission Rock Facilities and

Services, Series 2023B

.750

09/01/53

1,531,540

1,000,000

(a) San Francisco City and County Special Tax District 2020-1,

California, Special Tax Bonds, Mission Rock Facilities and

Services, Shoreline Tax Zone 1 Series 2023C

.750

09/01/53

1,056,235

1,000,000

(b) San Francisco City and County, California, Special Tax Bonds,

Community Facilities District 2014-1 Transbay Transit Center,

Green Series 2022A, (UB)

.000

09/01/42

1,065,678

1,735,000

(b) San Francisco City and County, California, Special Tax Bonds,

Community Facilities District 2014-1 Transbay Transit Center,

Green Series 2022A, (UB)

.000

09/01/47

1,806,978

1,150,000

(b) San Francisco City and County, California, Special Tax Bonds,

Community Facilities District 2014-1 Transbay Transit Center,

Green Series 2022A, (UB)

.000

09/01/52

1,191,251

965,000

(a) San Francisco City and County, California, Special Tax

Bonds, Community Facilities District 2016-1 Treasure Island

Improvement Area 2, Series 2023A

.250

09/01/48

993,986

2,050,000

(a) San Francisco City and County, California, Special Tax

Bonds, Community Facilities District 2016-1 Treasure Island

Improvement Area 2, Series 2023A

.500

09/01/53

2,140,601

925,000

South San Francisco, California, Special Tax Bonds, Community

Facilities District 2021--1 Public Facilities & Services Oyster Point,

Series 2025

.125

09/01/50

955,458

1,600,000

South San Francisco, California, Special Tax Bonds, Community

Facilities District 2021--1 Public Facilities & Services Oyster Point,

Series 2025

.250

09/01/55

1,661,833

1,210,000

Stockton, California, Special Tax Bonds, Community Facilities

District 2018-2 Westlake Villages II Improvement Area 4, Series

2025

.000

09/01/45

1,235,788

2,600,000

Stockton, California, Special Tax Bonds, Community Facilities

District 2018-2 Westlake Villages II Improvement Area 4, Series

2025

.000

09/01/50

2,642,111

4,000,000

Stockton, California, Special Tax Bonds, Community Facilities

District 2018-2 Westlake Villages II Improvement Area 4, Series

2025

.000

09/01/55

4,046,123

5,000,000

Stockton, California, Special Tax Revenue Bonds, Community

Facilities District 19-1, Cannery Park II, Series 2022

.000

09/01/52

5,065,556

5,400,000

Sulphur Springs Union School District, California, Special Tax

Bonds, Community Facilities District 2014-1, Series 2022

.500

09/01/52

5,134,203

1,045,000

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

Bonds, Community Facilities District 16-01, Series 2017

.250

09/01/47

1,073,502

1,750,000

Temecula Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 16-01, Series 2023A

.000

09/01/49

1,784,438

1,700,000

Temecula Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 23-02 Prado, Series 2025

.000

09/01/50

1,728,860

3,250,000

Temecula Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 23-02 Prado, Series 2025

.000

09/01/56

3,292,518

400,000

Temecula Valley Unified School District, Riverside County,

California, Special Tax Bonds, Community Facilities District 2011-

1, Series 2014

.250

09/01/44

374,542

1,195,000

Tracy, California, Special Tax Bonds, Community Facilities District

2016-1 Tracy Hills, Improvement Area 1, Series 2019

.000

09/01/49

1,202,357

2,700,000

Tracy, California, Special Tax Bonds, Community Facilities District

2016-1 Tracy Hills, Improvement Area 2, Series 2023

.875

09/01/53

2,874,884

1,000,000

Val Verde Unified School District, California, Special Tax Bonds,

Community Facilities District 2018-2, Stratford Improvement Area

2 Series 2023

.000

09/01/54

1,018,896

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

#### California High Yield Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

700,000

Victor Valley Union High School District, San Bernardino County,

California, Special Tax Bonds, Community Facilities District 2007-

1, Series 2013

.000

%

09/01/43

$

700,181

1,000,000

(a) Virgin Islands Public Finance Authority, Gross Receipts Taxes

Loan Note, Refunding Series 2014C

.000

10/01/39

1,000,000

350,000

West Patterson Financing Authority, California, Special Tax Bonds,

Community Facilities District 2015-1 Arambel-KDN, Refunding

Series 2015

.250

09/01/35

350,476

785,000

West Patterson Financing Authority, California, Special Tax Bonds,

Community Facilities District 2015-1 Arambel-KDN, Refunding

Series 2015

.250

09/01/45

785,381

1,890,000

Westside Union School District, California, Special Tax Bonds,

Community Facilities District 2016-1 Improvement Area B, Series

2023

.250

09/01/52

1,892,047

1,445,000

William S. Hart Union High School District, Los Angeles County,

California, Special Tax Bonds, Community Facilities District 2015-

1, Series 2017

.000

09/01/47

1,448,216

290,000

(c) Yorkville United City Business District, Illinois, Storm Water and

Water Improvement Project Revenue Bonds, Series 2007

.800

01/01/27

101,500

TOTAL TAX OBLIGATION/LIMITED

316,675,242

TRANSPORTATION - 6.9%

10,845,000

(b) Foothill/Eastern Transportation Corridor Agency, California, Toll

Road Revenue Bonds, Refunding Senior Lien Series 2021A, (UB)

.000

01/15/46

10,524,666

5,000,000

Foothill/Eastern Transportation Corridor Agency, California, Toll

Road Revenue Bonds, Refunding Series 2013A - AGM Insured

.000

01/15/37

3,463,505

250,000

Guam Port Authority, Port Revenue Bonds, Private Activity Series

2018B, (AMT)

.000

07/01/36

256,346

400,000

Guam Port Authority, Port Revenue Bonds, Private Activity Series

2018B, (AMT)

.000

07/01/37

409,086

10,000,000

(b) Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series

2018C, (AMT), (UB)

.000

05/15/44

10,100,458

375,174

Puerto Rico Highway and Transportation Authority Highway

Revenue Bonds Series 2022

.250

07/01/38

375,257

10,000,000

(b) San Diego County Regional Airport Authority, California, Airport

Revenue Bonds, International Senior Series 2023B, (AMT), (UB)

.250

07/01/58

10,418,777

5,000,000

(b) San Diego County Regional Airport Authority, California, Airport

Revenue Bonds, Subordinate Series 2021B, (AMT), (UB)

.000

07/01/51

5,082,727

20,000,000

(b) San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2023C, (AMT), (UB)

.750

05/01/48

21,651,996

5,165,000

(b) San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2018D, (AMT),

(UB)

.000

05/01/48

5,209,141

100,000

San Joaquin Hills Transportation Corridor Agency, Orange

County, California, Toll Road Revenue Bonds, Refunding Junior

Lien Series 2014B

.250

01/15/49

100,042

50,000

San Joaquin Hills Transportation Corridor Agency, Orange

County, California, Toll Road Revenue Bonds, Refunding Series

1997A - NPFG Insured

.000

01/15/31

42,379

1,200,000

(a) West Indian Company Limited, Virgin Islands, Port Facilities

Revenue Bonds WICO Financing Series 2022B, (AMT)

.500

04/01/52

1,181,634

TOTAL TRANSPORTATION

68,816,014

U.S. GUARANTEED - 0.2% (f)

2,320,000

Anaheim Public Financing Authority, California, Lease Revenue

Bonds, Public Improvement Project, Series 1997C - AGM Insured,

(ETM)

.000

09/01/35

1,750,420

265,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Community High School Foundation Inc, Series 2017,

(Pre-refunded 6/01/27)

.000

06/01/37

273,588

265,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Community High School Foundation Inc, Series 2017,

(Pre-refunded 6/01/27)

.000

06/01/47

273,587

TOTAL U.S. GUARANTEED

2,297,595

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES - 21.6%

$

27,110,000

(b),(d)

California Community Choice Financing Authority, Clean Energy

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

8/01/31), (UB)

.000

%

02/01/52

$

27,619,570

6,000,000

(b),(d)

California Community Choice Financing Authority, Clean Energy

Project Revenue Bonds, Green Series 2023E-1, (Mandatory Put

3/01/31), (UB)

.000

02/01/54

6,412,038

17,555,000

(b),(d)

California Community Choice Financing Authority, Clean Energy

Project Revenue Bonds, Green Series 2023F, (Mandatory Put

11/01/30), (UB)

.500

10/01/54

19,270,053

44,950,000

(b),(d)

California Community Choice Financing Authority, Clean Energy

Project Revenue Bonds, Green Series 2023G, (Mandatory Put

4/01/30), (UB)

.250

11/01/54

48,097,705

1,100,000

(a) California Pollution Control Financing Authority Water Furnishing

Revenue Bonds (Poseidon Resources (Channelside) LP

Desalination Project), Series 2023, (AMT)

.000

11/21/45

1,131,202

48,170,000

(b),(d)

Central Valley Energy Authority, California, Commodity Supply

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

.000

12/01/55

53,499,765

25,000

Long Beach Bond Finance Authority, California, Natural Gas

Purchase Revenue Bonds, Series 2007A

.500

11/15/28

26,781

7,185,000

(b) M-S-R Energy Authority, California, Gas Revenue Bonds,

Citigroup Prepay Contracts, Series 2009C, (UB)

.000

11/01/34

8,772,639

295,000

Pico Rivera Water Authority, California, Revenue Bonds,

Refunding Water System Project, Series 1999A - NPFG Insured

.500

05/01/29

307,377

3,000,000

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

Refunding Senior Lien Series 2020A

.000

07/01/47

2,953,150

5,000

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

Refunding Senior Lien Series 2021B

.000

07/01/37

5,175

8,000,000

(c) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Federally Taxable Build America Bonds, Series 2010YY

.125

07/01/40

4,609,742

1,140,000

Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding National Series 2007VV - NPFG Insured

.250

07/01/34

1,152,397

1,030,000

(c) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Refunding Series 2010DDD

.625

01/01/26

629,447

85,000

(c) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2003NN

.500

01/01/26

49,741

3,000,000

(c) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/27

1,759,570

1,020,000

(c) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010AAA

.250

07/01/31

601,141

165,000

(c) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.000

01/01/26

97,558

1,695,000

(c) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.000

01/01/26

1,012,744

1,000,000

(c) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2010ZZ

.250

07/01/26

601,223

1,415,000

(c) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Series 2013A

.800

07/01/29

846,412

2,000,000

(c) Puerto Rico Electric Power Authority, Power Revenue Bonds,

Taxable Series 2010BBB

.400

07/01/28

1,176,468

25,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Refunding

Series 2005SS

.625

07/01/30

15,143

1,950,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2007TT

.000

07/01/32

1,151,889

915,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.375

01/01/26

537,343

1,000,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.250

07/01/33

590,024

295,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2008WW

.500

07/01/38

172,827

500,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010AAA

.250

07/01/25

293,504

135,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.000

07/01/26

79,821

200,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010CCC

.800

07/01/27

121,799

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

#### California High Yield Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

1,445,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010XX

.625

%

07/01/25

$

861,513

95,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010XX

.250

07/01/26

56,057

1,000,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010XX

.250

07/01/35

595,604

275,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2010ZZ

.250

07/01/25

162,673

220,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.250

07/01/30

125,330

4,430,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.750

07/01/36

2,546,460

5,385,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Series

2013A

.000

07/01/42

3,289,953

2,380,000

(c) Puerto Rico Electric Power Authority, Revenue Bonds, Taxable

Series 2010EEE

.950

07/01/30

1,381,713

11,135,000

(b),(d)

San Joaquin Valley Clean Energy Authority, California, Clean

Energy Project Revenue Bonds, Green Series 2025A, (Mandatory

Put 7/01/35), (UB)

.500

01/01/56

12,701,975

1,000,000

Southern California Public Power Authority, Natural Gas Project 1

Revenue Bonds, Series 2007A

.000

11/01/29

1,054,870

220,000

Southern California Public Power Authority, Natural Gas Project 1

Revenue Bonds, Series 2007A

.000

11/01/33

241,775

2,190,000

(a) Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Bond Anticipation Notes, Series 2024A

.000

07/01/26

2,208,448

150,000

(a) Virgin Islands Water and Power Authority, Electric System

Revenue Bonds, Refunding Series 2024B

.250

07/01/26

150,190

5,020,000

West County Facilities Financing Authority, California,

Wastewater Revenue Bonds, Green Series 2021

.000

06/01/46

4,937,858

TOTAL UTILITIES

213,908,667

TOTAL MUNICIPAL BONDS

(Cost $1,244,108,685)

1,239,613,592

TOTAL LONG-TERM INVESTMENTS

(Cost $1,244,108,685)

1,239,613,592

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM INVESTMENTS - 0.5%

X

5,225,000

REPURCHASE AGREEMENTS - 0.5%

X

–

$

5,225,000

(g) Fixed Income Clearing Corporation

.040

12/01/25

$

5,225,000

TOTAL REPURCHASE AGREEMENTS

(Cost $5,225,000)

5,225,000

TOTAL SHORT-TERM INVESTMENTS

(Cost $5,225,000)

5,225,000

TOTAL INVESTMENTS - 125.4%

(Cost $1,249,333,685)

1,244,838,592

FLOATING RATE OBLIGATIONS - (25.9)%

(257,380,000)

OTHER ASSETS & LIABILITIES, NET - 0.5%

5,169,783

NET ASSETS - 100%

$

992,628,375

AMT

Alternative Minimum Tax

ETM

Escrowed to maturity

IF

Inverse floating rate security issued by a tender option bond ("TOB") trust, the interest rate on which varies inversely with the

Securities Industry Financial Markets Association (SIFMA) short-term rate, which resets weekly, or a similar short-term rate, and is

reduced by the expenses related to the TOB trust.

UB

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

unless otherwise noted.

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

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

As of the end of the fiscal period, the aggregate value of these securities is $380,633,557 or 30.6% of Total Investments.

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

floating rate transactions.

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

bankruptcy.

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:

(d) Floating or variable rate security includes the reference rate and spread, when applicable. For mortgage-backed or asset-backed

securities the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.

(e) When-issued or delayed delivery security.

(f) 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.

(g) Agreement with Fixed Income Clearing Corporation, 4.040% dated 11/28/25 to be repurchased at $5,226,759 on 12/1/25,

collateralized by Government Agency Securities, with coupon rate 4.625% and maturity date 2/15/55, valued at $5,329,514.

California High Yield

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

1,239,613,592

$

–

$

1,239,613,592

Short-Term Investments:

Repurchase Agreements

–

5,225,000

–

5,225,000

Total

$

–

$

1,244,838,592

$

–

$

1,244,838,592

#### Portfolio of Investments November 30, 2025

#### California Municipal Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 98.7%

X

1,621,710,226

MUNICIPAL BONDS - 98.7%

X

–

CONSUMER STAPLES - 0.0%

$

370,000

California County Tobacco Securitization Agency, Tobacco

Settlement Asset-Backed Bonds, Los Angeles County

Securitization Corporation, Series 2020A

.000

%

06/01/49

$

320,106

310,000

Golden State Tobacco Securitization Corporation, California,

Tobacco Settlement Asset-Backed Revenue Bonds, Series

2022A-1

.000

06/01/51

310,612

TOTAL CONSUMER STAPLES

630,718

EDUCATION AND CIVIC ORGANIZATIONS - 8.9%

5,825,000

California Educational Facilities Authority, Revenue Bonds,

Master's University, Series 2025

.000

08/01/45

5,814,654

2,040,000

California Educational Facilities Authority, Revenue Bonds,

University of the Pacific, Series 2023

.000

11/01/43

2,192,315

3,240,000

California Educational Facilities Authority, Revenue Bonds,

University of the Pacific, Series 2023

.250

11/01/48

3,184,310

11,780,000

California Enterprise Development Authority, Revenue Bonds,

Castilleja School Foundation Series 2024

.000

06/01/54

10,921,251

2,435,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, California Science Center Phase III Project,

Green Series 2021B

.000

05/01/41

2,456,973

3,000,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, Los Angeles County Museum of Natural History

Foundation, Series 2020

.000

07/01/50

2,901,550

20,175,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, UCSF Clinical and Life Sciences Building, Series

2025

.500

05/15/55

20,253,049

2,000,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, UCSF Clinical and Life Sciences Building, Series

2025

.250

05/15/59

2,143,217

500,000

California Municipal Finance Authority Charter School Revenue

Bonds, John Adams Academies, Inc. Project, Series 2015A

.250

10/01/45

480,043

3,250,000

California Municipal Finance Authority, Academic Facilities

Revenue Bonds, Scripps College Series 2025

.000

07/01/50

3,344,838

1,275,000

California Municipal Finance Authority, Revenue Bonds, Goodwill

Industries of Sacramento Valley & Northern Nevada Project,

Series 2014A

.000

01/01/35

1,105,720

8,595,000

California Municipal Finance Authority, Revenue Bonds, Linxs

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

.000

12/31/47

7,553,289

6,980,000

California Municipal Finance Authority, Revenue Bonds, Linxs

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

.000

12/31/47

7,004,058

445,000

(a) California School Finance Authority Charter School Revenue

Bonds, Bright Star Schools - Obligated Group, Series 2017

.000

06/01/27

447,321

250,000

(a) California School Finance Authority Charter School Revenue

Bonds, Bright Star Schools - Obligated Group, Series 2017

.000

06/01/54

223,742

2,935,000

(a) California School Finance Authority Charter School Revenue

Bonds, Fenton Schools - Obligated Group, Series 2020A

.000

07/01/50

2,634,431

1,045,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Aspire Public Schools, Refunding Series 2015A

.000

08/01/40

1,045,140

1,100,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Aspire Public Schools, Refunding Series 2015A

.000

08/01/45

1,072,533

450,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Aspire Public Schools, Refunding Series 2016

.000

08/01/36

450,091

460,000

(a) California School Finance Authority, California, Charter School

Revenue Bonds, Aspire Public Schools, Refunding Series 2016

.000

08/01/46

450,739

1,915,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Arts in Action Charter Schools - Obligated Group, Series

2020A

.000

06/01/59

1,553,718

815,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Aspire Public School - Obligated Group,Issue No.6, Series

2020A

.000

08/01/52

788,232

235,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Community High School Foundation Inc, Series 2017

.000

06/01/47

217,305

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

410,000

(a),(b)

California School Finance Authority, Charter School Revenue

Bonds, Downtown College Prep - Obligated Group, Series 2016

.000

%

06/01/46

$

246,000

500,000

(a),(b)

California School Finance Authority, Charter School Revenue

Bonds, Downtown College Prep - Obligated Group, Series 2016

.000

06/01/51

300,000

375,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Kepler Neighborhood School, Series 2017A

.750

05/01/37

377,241

720,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Lifeline Education Charter School Project, Series 2020A

.000

07/01/55

673,122

550,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Partnerships to Uplift Communities Project, Refunding

Social Series 2023

.500

08/01/43

560,328

285,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Rocketship Education - Obligated Group, Series 2016A

.000

06/01/36

285,046

280,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Stem Preparatory Schools - Obligated Group, Series

2023A

.000

06/01/43

280,741

750,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Alliance for College-Ready Public Schools Project, Series

2015A

.000

07/01/45

750,138

830,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Alliance for College-Ready Public Schools Project, Series

2016A

.000

07/01/46

830,117

5,235,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Alliance for College-Ready Public Schools Project, Series

2016C

.250

07/01/52

5,247,592

3,125,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Granada Hills Charter High School Obligated Group,

Series 2019

.000

07/01/49

3,084,108

680,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Granada Hills Charter High School Obligated Group,

Series 2021A

.000

07/01/48

578,682

545,000

(a) California School Finance Authority, School Facility Revenue

Bonds, Value Schools, Refunding Series 2023A

.000

07/01/40

559,199

15,325,000

California State University, Systemwide Revenue Bonds, Series

2017A

.000

11/01/47

15,564,259

3,100,000

California State University, Systemwide Revenue Bonds, Series

2018A

.000

11/01/43

3,218,667

15,665,000

California State University, Systemwide Revenue Bonds, Series

2018A

.000

11/01/48

16,082,823

5,210,000

California State University, Systemwide Revenue Bonds, Series

2019A

.000

11/01/49

5,384,442

1,120,000

California State University, Systemwide Revenue Bonds, Series

2024A

.000

11/01/55

1,060,245

1,115,000

San Diego County, California, Limited Revenue Obligations,

Sanford Burnham Prebys Medical Discovery Institute, Series

2015A

.000

11/01/28

1,116,974

11,620,000

University of California, General Revenue Bonds, Limited Project

Series 2018O

.000

05/15/43

12,053,033

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

146,491,276

FINANCIALS - 0.0%

7,048

Cofina Class 2 Trust Tax-Exempt Class 2047, Puerto Rico. Unit

Exchanged From Cusip 74529JAN5

.000

08/01/47

2,244

TOTAL FINANCIALS

2,244

HEALTH CARE - 16.3%

17,205,000

California Health Facilities Financing Authority, California,

Revenue Bonds, Sutter Health, Refunding Series 2016B

.000

11/15/46

17,315,079

3,815,000

California Health Facilities Financing Authority, California,

Revenue Bonds, Sutter Health, Refunding Series 2017A

.000

11/15/48

3,858,818

1,225,000

California Health Facilities Financing Authority, California,

Revenue Bonds, Sutter Health, Series 2018A

.000

11/15/36

1,271,980

11,100,000

California Health Facilities Financing Authority, California,

Revenue Bonds, Sutter Health, Series 2018A

.000

11/15/48

11,225,417

7,000,000

California Health Facilities Financing Authority, Revenue Bonds,

Cedars-Sinai Health System, Series 2021A

.000

08/15/48

6,492,698

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

#### California Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

3,850,000

California Health Facilities Financing Authority, Revenue Bonds,

Children's Hospital Los Angeles, Series 2017A

.000

%

08/15/47

$

3,792,272

6,100,000

California Health Facilities Financing Authority, Revenue Bonds,

City of Hope National Medical Center, Series 2012A

.000

11/15/39

6,100,453

7,850,000

California Health Facilities Financing Authority, Revenue Bonds,

City of Hope National Medical Center, Series 2019

.000

11/15/45

7,295,226

2,700,000

California Health Facilities Financing Authority, Revenue Bonds,

City of Hope National Medical Center, Series 2019

.000

11/15/49

2,711,296

10,750,000

California Health Facilities Financing Authority, Revenue Bonds,

CommonSpirit Health, Series 2020A

.000

04/01/40

10,784,499

3,175,000

California Health Facilities Financing Authority, Revenue Bonds,

CommonSpirit Health, Series 2020A

.000

04/01/45

2,981,943

35,085,000

California Health Facilities Financing Authority, Revenue Bonds,

CommonSpirit Health, Series 2020A

.000

04/01/49

32,111,062

1,825,000

California Health Facilities Financing Authority, Revenue Bonds,

Providence Health & Services, Series 2014B

.000

10/01/44

1,825,907

2,000,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, Adventist Health Energy Projects, Series 2024A

.000

07/01/44

2,050,782

32,335,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, Adventist Health Energy Projects, Series 2024A

.250

07/01/49

33,149,800

250,000

California Municipal Finance Authority, Revenue Bonds,

Eisenhower Medical Center, Refunding Series 2017A

.000

07/01/47

250,424

1,810,000

California Municipal Finance Authority, Revenue Bonds, NorthBay

Healthcare Group, Series 2017A

.250

11/01/36

1,822,771

11,500,000

California Municipal Finance Authority, Revenue Bonds, NorthBay

Healthcare Group, Series 2017A

.250

11/01/41

11,542,681

6,750,000

California Municipal Finance Authority, Revenue Bonds, NorthBay

Healthcare Group, Series 2017A

.000

11/01/47

6,401,404

3,810,000

California Municipal Finance Authority, Revenue Bonds, NorthBay

Healthcare Group, Series 2017A

.250

11/01/47

3,813,713

5,300,000

California Municipal Finance Authority, Reveue Bonds,

Community Medical Centers, Series 2017A

.000

02/01/47

5,317,791

2,950,000

California Municipal Financing Authority, Certificates of

Participation, Palomar Health, Series 2022A

.250

11/01/52

3,041,363

2,000,000

California Public Finance Authority, Revenue Bonds, Henry Mayo

Newhall Hospital, Series 2017

.000

10/15/47

1,988,150

15,050,000

California Public Finance Authority, Revenue Bonds, Sharp

HealthCare, Series 2017A

.000

08/01/47

15,299,205

4,000,000

California Statewide Communities Development Authority,

California, Redlands Community Hospital, Revenue Bonds, Series

2016

.000

10/01/46

4,014,300

6,000,000

California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2014A

.250

12/01/44

6,016,468

20,750,000

(a) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2016A

.250

12/01/56

20,752,102

8,400,000

(a) California Statewide Communities Development Authority,

California, Revenue Bonds, Loma Linda University Medical

Center, Series 2018A

.500

12/01/58

8,440,960

1,305,000

California Statewide Communities Development Authority,

Revenue Bonds, Adventist Health System/West, Series 2015A

.000

03/01/35

1,307,774

10,875,000

California Statewide Communities Development Authority,

Revenue Bonds, Adventist Health System/West, Series 2018A

.000

03/01/48

10,958,978

10,000,000

California Statewide Communities Development Authority,

Revenue Bonds, Marin General Hospital, Green Series 2018A

.000

08/01/45

8,890,471

1,000,000

California Statewide Community Development Authority,

Certificates of Participation, Methodist Hospital of Southern

California, Series 2018

.000

01/01/48

1,015,226

1,365,000

California Statewide Community Development Authority, Health

Revenue Bonds, Enloe Medical Center, Refunding Series 2022A

- AGM Insured

.250

08/15/52

1,402,972

3,000,000

Kaweah Delta Health Care District, California, Revenue Bonds,

Series 2015B

.000

06/01/40

2,988,734

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

5,000,000

Palomar Health System, California, Revenue Bonds, Refunding

Series 2017

.000

%

11/01/42

$

4,500,710

1,630,000

Upland, California, Certificates of Participation, San Antonio

Regional Hospital, Series 2017

.000

01/01/47

1,640,992

2,800,000

Washington Township Health Care District, California, Revenue

Bonds, Series 2017A

.000

07/01/42

2,807,331

TOTAL HEALTH CARE

267,181,752

HOUSING/MULTIFAMILY - 15.7%

4,670,000

(a) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Creekwood, Series 2021A

.000

02/01/56

3,121,092

15,920,000

(a) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Glendale Properties, Junior Series

2021A-2

.000

08/01/47

12,257,953

30,005,000

(a) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Serenity at Larkspur Apartments, Series

2020A

.000

02/01/50

19,521,100

560,000

(a) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Summit at Sausalito Apartments, Series

2021A-2

.000

02/01/50

426,737

425,000

(a) California Community Housing Agency, California, Essential

Housing Revenue Bonds, The Arbors, Series 2020A

.000

08/01/50

399,285

2,850,000

(a) California Community Housing Agency, California, Essential

Housing Revenue Bonds, Verdant at Green Valley Apartments,

Series 2019A

.000

08/01/49

2,627,945

25,810,000

(a) California Community Housing Agency, Workforce Housing

Revenue Bonds, Annadel Apartments, Series 2019A

.000

04/01/49

20,925,852

10,116,575

California Housing Finance Agency, Municipal Certificate

Revenue Bonds, Class A Series 2019-2

.000

03/20/33

10,380,500

11,951,099

California Housing Finance Agency, Municipal Certificate

Revenue Bonds, Class A Series 2021-1

.500

11/20/35

11,883,184

1,457,304

California Housing Finance Agency, Municipal Certificate

Revenue Bonds, Class A Series2019-1

.250

01/15/35

1,508,907

9,576,283

California Housing Finance Agency, Municipal Certificate

Revenue Bonds, Class A Social Certificates Series 2023-1

.375

09/20/36

9,906,669

8,214,802

(c) California Municipal Finance Agency, Municipal Certificates,

Series 2025-2 Class A-1

.325

11/20/40

8,245,007

2,900,000

California Municipal Finance Authority, Mobile Home Park

Revenue Bonds, Caritas Projects, Social Series 2024A

.000

08/15/59

2,955,306

2,630,000

California Statewide Community Development Authority,

Multifamily Housing Revenue Senior Bonds, Westgate Courtyards

Apartments, Series 2001X-1 - AMBAC Insured, (AMT)

.420

12/01/34

2,630,496

23,205,000

(a) CMFA Special Finance Agency I, California, Essential Housing

Revenue Bonds, The Mix at Center City, Series 2021A-2

.000

04/01/56

17,789,535

5,675,000

(a) CMFA Special Finance Agency, California, Essential Housing

Revenue Bonds, Enclave Apartments, Senior Series 2022A-1

.000

08/01/58

4,313,780

920,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, 777 Place-Pomona, Senior Lien Series

2021A-1

.600

05/01/47

758,799

8,660,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, 777 Place-Pomona, Senior Lien Series

2021A-2

.250

05/01/57

5,968,552

5,230,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Acacia on Santa Rosa Creek, Senior

Lien Series 2021A

.000

10/01/56

4,305,893

2,000,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Altana Glendale, Series 2021A-1

.500

10/01/46

1,731,664

26,965,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Altana Glendale, Series 2021A-2

.000

10/01/56

22,417,838

16,355,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Center City Anaheim, Series 2020A

.000

01/01/54

14,909,373

2,550,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Jefferson-Anaheim Series 2021A-1

.875

08/01/41

2,363,507

4,640,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Jefferson-Anaheim Series 2021A-2

.125

08/01/56

3,502,621

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

#### California Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

19,550,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Moda at Monrovia Station, Social Series

2021A-2

.000

%

10/01/56

$

15,005,853

1,615,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Monterrey Station Apartments, Senior

Lien Series 2021A-1

.000

07/01/43

1,267,949

4,750,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Monterrey Station Apartments, Senior

Lien Series 2021A-1

.125

07/01/56

3,099,674

395,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Orange City Portfolio, Mezzanine Lien

Series 2021B

.000

03/01/57

292,503

15,125,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Parallel-Anaheim Series 2021A

.000

08/01/56

13,596,472

3,765,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Pasadena Portfolio Social Bond,

Mezzanine Senior Series 2021B

.000

12/01/56

2,883,788

5,730,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Union South Bay, Series 2021A-2

.000

07/01/56

4,683,181

7,475,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Vineyard Gardens Apartments, Senior

Lien Series 2021A

.250

10/01/58

5,282,796

2,100,000

(a) CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Waterscape Apartments, Mezzanine

Lien Series 2021B

.000

09/01/46

1,746,391

3,995,000

(a) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Westgate Phase 1-Pasadena

Apartments, Senior Lien Series 2021A-1

.000

06/01/47

2,809,350

16,280,000

(a) CSCDA Community Improvement Authority, California,

Essential Housing Revenue Bonds, Westgate Phase 1-Pasadena

Apartments, Senior Lien Series 2021A-2

.125

06/01/57

9,834,465

2,100,000

CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Wood Creek Apartments, Mezzanine

Lien Series 2021A-2

.000

12/01/58

1,490,449

7,545,000

CSCDA Community Improvement Authority, California, Essential

Housing Revenue Bonds, Wood Creek Apartments, Senior Lien

Series 2021A-1

.000

12/01/49

5,120,512

2,480,000

Los Angeles Housing Authority, California, Multifamily Housing

Revenue Bonds, Clarendon Apartments, Senior Series 2024A

.400

12/01/54

2,325,844

4,325,000

Los Angeles Housing Authority, California, Multifamily Housing

Revenue Bonds, Clarendon Apartments, Senior Series 2024A

.550

12/01/61

4,235,542

TOTAL HOUSING/MULTIFAMILY

258,526,364

HOUSING/SINGLE FAMILY - 0.4%

6,000,000

California Department of Veterans Affairs, Home Purchase

Revenue Bonds, Series 2024A

.300

12/01/54

5,951,674

TOTAL HOUSING/SINGLE FAMILY

5,951,674

TAX OBLIGATION/GENERAL - 13.1%

1,000,000

Acalanes Union High School District, Contra Costa County,

California, General Obligation Bonds, Refunding Series 2010A

.000

08/01/26

983,201

8,000,000

Antioch Unified School District, Contra Costa County, California,

General Obligation Bonds, Election 2024 Series 2024A

.000

08/01/47

7,725,922

6,375,000

Antioch Unified School District, Contra Costa County, California,

General Obligation Bonds, Election 2024 Series 2024A

.000

08/01/50

6,071,871

5,570,000

(d) Bakersfield City School District, Kern County, California, General

Obligation Bonds, Series 2012C

.000

05/01/42

4,513,235

2,500,000

California State, General Obligation Bonds, Various Purpose

Series 2016

.000

09/01/45

2,518,134

835,000

California State, General Obligation Bonds, Various Purpose

Series 2016

.000

09/01/46

840,872

22,700,000

California State, General Obligation Bonds, Various Purpose

Series 2018

.000

10/01/47

22,768,985

1,770,000

California State, General Obligation Bonds, Various Purpose

Series 2020

.000

11/01/45

1,726,289

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

5,000,000

California State, General Obligation Bonds, Various Purpose

Series 2025

.000

%

08/01/50

$

5,381,048

3,385,000

Chino Valley Unified School District, San Bernardino County,

California, General Obligation Bonds, 2016 Election Series

2020B

.000

08/01/55

3,495,704

4,900,000

Corona-Norco Unified School District, Riverside County,

California, General Obligation Bonds, Election 2014, Series

2019C

.000

08/01/49

4,706,995

2,745,000

Grossmont-Cuyamaca Community College District, California,

General Obligation Bonds, Refunding Series 2018

.000

08/01/47

2,700,061

7,000,000

Hacienda La Puente Unified School District, Los Angeles County,

California, General Obligation Bonds, 2016 Election, Series

2017A

.000

08/01/47

6,885,402

30,000

Long Beach Unified School District, Los Angeles County,

California, General Obligation Bonds, Election of 2008, Series

2009A

.500

08/01/29

30,159

38,460,000

Los Angeles County, California, Tax and Revenue Anticipation

Notes, Series 2025-26

.000

06/30/26

39,065,064

31,210,000

Los Angeles, California, General Obligation Bonds, Tax &

Revenue Anticipation Notes, Series 2025

.000

06/25/26

31,674,642

6,225,000

Manteca Unified School District, San Joaquin County, California,

General Obligation Bonds, Election 2014 Series 2017B

.000

08/01/42

6,231,344

10,000,000

Marin Healthcare District, Marin County, California, General

Obligation Bonds, 2013 Election, Series 2015A

.000

08/01/40

9,992,760

4,040,000

Morgan Hill Unified School District, Santa Clara County,

California, General Obligation Bonds, Election 2012 Series

2017B

.000

08/01/47

3,979,560

2,290,000

Mount San Antonio Community College District, Los Angeles

County, California, General Obligation Bonds, Election of 2018,

Series 2019A

.000

08/01/44

2,398,559

8,890,000

Mount San Antonio Community College District, Los Angeles

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

Series 2025A

.250

08/01/55

9,699,253

9,440,000

Paramount Unified School District, Los Angeles County,

California, General Obligation Bonds, Election 2006 Series 2011

.375

08/01/45

10,955,924

7,070,089

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

5,097,334

6,985,000

Rio Hondo Community College District, California, General

Obligation Bonds, 2024 Election, Series 2025A

.250

08/01/55

7,603,384

1,535,000

(d) San Leandro Unified School District, Alameda County, California,

General Obligation Bonds, Election 2006 Series 2010C - AGC

Insured

.000

08/01/39

1,608,410

2,000,000

Victor Valley Union High School District, San Bernardino County,

California, General Obligation Bonds, 20008 Election Series

2009A - AGC Insured

.750

08/01/31

2,038,021

3,080,000

Washington Township Health Care District, Alameda County,

California, General Obligation Bonds, 2004 Election Series

2013B

.000

08/01/43

3,080,741

645,000

Washington Township Health Care District, Alameda County,

California, General Obligation Bonds, 2012 Election Series

2013A

.500

08/01/40

649,031

8,640,000

Washington Township Health Care District, Alameda County,

California, General Obligation Bonds, 2012 Election Series

2015B

.000

08/01/45

8,441,868

3,500,000

(d) Yosemite Community College District, California, General

Obligation Bonds, Capital Appreciation, Election 2004, Series

2010D

.000

08/01/42

3,068,520

TOTAL TAX OBLIGATION/GENERAL

215,932,293

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

#### California Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED - 8.5%

$

1,035,000

Beaumont, California, Special Tax Bonds, Community Facilities

District 93-1 Improvement Area 8D, Series 2018A

.000

%

09/01/48

$

1,045,495

1,655,000

Bell Community Housing Authority, California, Lease Revenue

Bonds, Series 2005 - AMBAC Insured

.000

10/01/36

1,654,932

355,000

Brea and Olinda Unified School District, Orange County,

California, Certificates of Participation Refunding, Series 2002A -

AGM Insured

.125

08/01/26

355,558

200,000

Brentwood Infrastructure Financing Authority, California,

Infrastructure Revenue Bonds, Refunding Subordinated Series

2014B

.000

09/02/36

200,104

1,760,000

California Community College Financing Authority, Lease

Revenue Bonds, Refunding Series 2003 - AMBAC Insured

.000

06/01/33

1,313,502

2,040,000

California Infrastructure and Economic Development Bank, Lease

Revenue Bonds, California State Teachers Retirement System

Headquarters Expansion, Green Bond-Climate Bond Certified

Series 2019

.000

08/01/44

2,130,037

1,960,000

California Infrastructure and Economic Development Bank,

Revenue Bonds, North County Center for Self-Sufficiency

Corporation, Series 2004 - AMBAC Insured

.000

12/01/25

1,960,000

750,000

California Municipal Finance Authority, Special Tax Revenue

Bonds, Bold Program, Series 2020A

.000

09/01/45

687,067

4,325,000

California State Public Works Board, Lease Revenue Bonds,

California Air Resources Board, Southern California Headquarters

- Mary D. Nichols Campus, Green Series 2022D

.000

05/01/47

4,188,867

335,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2011A

.000

09/02/41

335,007

945,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2016B

.000

09/02/46

948,261

1,000,000

California Statewide Communities Development Authority,

Statewide Community Infrastructure Program Revenue Bonds,

Series 2018A

.000

09/02/47

1,012,106

775,000

City of Dublin, California, Community Facilities District No. 2015-

1, Dublin Crossing, Improvement Area No. 1, Special Tax Bonds,

Series 2017

.000

09/01/37

792,320

800,000

Corona, California, Special Tax Bonds, Community Facilities

District 2018-1 Bedford, Series 2018A

.000

09/01/43

809,500

1,800,000

Dublin Community Facilities District 2015-1 Dublin Crossing,

California, Special Tax Bonds, Improvement Area 2, Series 2019

.000

09/01/44

1,835,176

1,000,000

Folsom Ranch Financing Authority, California, Special Tax

Revenue Bonds, Folsom Community Facilities District 19 Mangini

Ranch, Series 2019

.000

09/01/49

1,013,369

1,000,000

Huntington Beach, California, Special Tax Bonds, Community

Facilities District 2003-1 Huntington Center, Refunding Series

2013

.375

09/01/33

1,001,384

4,585,000

Irvine Facilities Financing Authority, California, Special Tax

Revenue Bonds, Great Park Infrastructure Project Series 2023A

.000

09/01/42

4,985,262

1,400,000

Lammersville Joint Unified School District, San Joaquin County,

California, Special Tax Bonds, Community Facilities District 2014-

1 Improvement Area 1 Mountain House School Facilities, Series

2017

.000

09/01/47

1,408,873

1,000,000

Lathrop, California, Limited Obligation Improvement Bonds,

Crossroads Assessment District, Series 2015

.000

09/02/40

1,001,220

1,000,000

Los Angeles County Facilities Inc, California, Lease Revenue

Bonds, Vermont Corridor County Administration Building, Series

2018A

.000

12/01/51

1,026,891

5,075,000

Los Angeles County Metropolitan Transportation Authority,

California, Proposition C Sales Tax Revenue Bonds, Green Senior

Lien Series 2019A

.000

07/01/44

5,281,603

7,000,000

Los Angeles County Public Works Financing Authority, California,

Lease Revenue Bonds, Series 2019E-1

.000

12/01/44

7,307,235

5,920,000

Los Angeles County Public Works Financing Authority, California,

Lease Revenue Bonds, Series 2025J

.250

12/01/50

6,459,110

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

325,000

Menifee, California, Special Tax Bonds, Community Facilities

District 2021-1, Banner Park Series 2023A

.000

%

09/01/48

$

332,439

1,455,000

Modesto, California, Speical Tax Bonds, Community Faclities

District 2004-1 Village One 2, Refunding Series 2014

.000

09/01/28

1,457,490

570,000

ndio, California, Special Tax Bonds, Community Facilities District

2004-3 Terra Lago, Improvement Area 1, Series 2015

.000

09/01/35

570,630

3,250,000

Oakland Redevelopment Successor Agency, California, Tax

Allocation Bonds, Refunding Subordinated Series 2015-TE - AGM

Insured

.000

09/01/35

3,255,109

3,215,000

Oakland Redevelopment Successor Agency, California, Tax

Allocation Bonds, Refunding Subordinated Series 2015-TE - AGM

Insured

.000

09/01/36

3,219,647

255,000

Orange County, California, Special Tax Bonds, Community

Facilities District 2015-1 Esencia Village, Series 2015A

.250

08/15/45

255,318

27,597,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/46

9,410,513

27,031,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/58

26,354,301

5,920,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.536

07/01/53

5,399,791

7,525,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.784

07/01/58

7,104,125

4,180,000

River Islands Public Financing Authority, California, Special Tax

Bonds, Community Facilities District 2003-1 Improvement Area 1,

Refunding Series 2022A-1 - AGM Insured

.250

09/01/52

4,426,699

415,000

Riverside Unified School District, Riverside County, California,

Special Tax Bonds, Community Facilities District 32, Series 2020

.000

09/01/45

379,675

3,390,000

San Francisco Bay Area Rapid Transit District, California, Sales Tax

Revenue Bonds, Series 2019A

.000

07/01/38

3,415,056

355,000

San Francisco City and County Redevelopment Agency

Successor Agency, California, Special Tax Bonds, Community

Facilities District 7, Hunters Point Shipyard Phase One

Improvements, Refunding Series 2014

.000

08/01/39

355,558

40,000

Signal Hill Redevelopment Agency, California, Project 1 Tax

Allocation Bonds, Series 2011

.000

10/01/26

40,122

2,235,000

Stockton Public Financing Authority, California, Revenue Bonds,

Arch Road East Community Facility District 99-02, Series 2018A

.000

09/01/43

2,265,501

380,000

Stockton, California, Special Tax Bonds, Community Facilities

District 2018-2 Westlake Villages II Improvement Area 2, Series

2024

.000

09/01/44

385,169

525,000

Stockton, California, Special Tax Bonds, Community Facilities

District 2018-2 Westlake Villages II Improvement Area 2, Series

2024

.000

09/01/49

526,597

650,000

Stockton, California, Special Tax Bonds, Community Facilities

District 2018-2 Westlake Villages II Improvement Area 2, Series

2024

.000

09/01/54

649,989

105,000

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

Bonds, Community Facilities District 16-01, Series 2017

.125

09/01/37

109,149

1,345,000

Tracy, California, Special Tax Bonds, Community Facilities District

2016-1 Tracy Hills, Improvement Area 2, Series 2023

.625

09/01/43

1,430,027

3,120,000

Transbay Joint Powers Authority, California, Tax Allocation Bonds,

Senior Green Series 2020A

.000

10/01/45

3,141,067

625,000

Val Verde Unified School District, California, Special Tax Bonds,

Community Facilities District 2018-2, Stratford Improvement Area

2 Series 2023

.000

09/01/48

640,035

7,600,000

Vista Community Development Commission Taxable Non-

Housing Tax Allocation Revenue Bonds, California, Vista

Redevelopment Project, Series 2011

.000

09/01/33

7,621,623

7,920,000

Vista Community Development Commission Taxable Non-

Housing Tax Allocation Revenue Bonds, California, Vista

Redevelopment Project, Series 2011

.125

09/01/37

7,942,284

TOTAL TAX OBLIGATION/LIMITED

139,440,793

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

#### California Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION - 18.9%

$

4,375,000

Burbank-Glendale-Pasadena Airport Authority, California, Airport

Revenue Bonds, Senior Series 2024B - AGM Insured, (AMT)

.375

%

07/01/49

$

4,206,255

18,840,000

Foothill/Eastern Transportation Corridor Agency, California, Toll

Road Revenue Bonds, Refunding Senior Lien Series 2021A

.000

01/15/46

18,283,514

5,050,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Green Series 2022G, (AMT)

.000

05/15/52

5,149,006

1,550,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Refunding & Subordinate

Series 2022C, (AMT)

.000

05/15/37

1,570,850

1,250,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Refunding & Subordinate

Series 2022C, (AMT)

.000

05/15/38

1,259,076

1,930,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Refunding & Subordinate

Series 2022C, (AMT)

.000

05/15/39

1,933,683

2,255,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Refunding Subordinate Lien

Private Activity Series 2021A, (AMT)

.000

05/15/46

2,317,853

6,925,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series

2016B, (AMT)

.000

05/15/46

6,937,696

24,440,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series

2018C, (AMT)

.000

05/15/44

24,685,519

2,000,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series

2019D, (AMT)

.000

05/15/30

2,114,330

2,415,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series

2019D, (AMT)

.000

05/15/34

2,537,468

1,695,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series

2019D, (AMT)

.000

05/15/35

1,774,548

3,500,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series

2019D, (AMT)

.000

05/15/39

3,621,663

3,600,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series 2019F,

(AMT)

.000

05/15/37

3,775,090

10,000,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series 2019F,

(AMT)

.000

05/15/44

10,204,104

9,680,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series

2021D, (AMT)

.000

05/15/37

10,501,394

6,995,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series

2022A, (AMT)

.000

05/15/45

7,242,899

1,000,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series

2022A, (AMT)

.000

05/15/49

907,002

16,305,000

Riverside County Transportation Commission, California, Toll

Revenue Second Lien Bonds, RCTC 91 Express Lanes, Refunding

Series 2021C

.000

06/01/47

14,761,608

3,085,000

Riverside County Transportation Commission, California, Toll

Revenue Senior Lien Bonds, RCTC 91 Express Lanes, Refunding

Series 2021B-1

.000

06/01/40

3,082,706

10,815,000

Riverside County Transportation Commission, California, Toll

Revenue Senior Lien Bonds, RCTC 91 Express Lanes, Refunding

Series 2021B-1

.000

06/01/46

9,907,160

4,230,000

San Diego County Regional Airport Authority, California, Airport

Revenue Bonds, International Senior Series 2023B, (AMT)

.000

07/01/48

4,378,077

10,000,000

San Diego County Regional Airport Authority, California, Airport

Revenue Bonds, International Senior Series 2023B, (AMT)

.250

07/01/58

10,418,777

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

2,625,000

San Diego County Regional Airport Authority, California, Airport

Revenue Bonds, Subordinate Series 2017A

.000

%

07/01/47

$

2,662,196

2,000,000

San Diego County Regional Airport Authority, California, Airport

Revenue Bonds, Subordinate Series 2017A, (AMT)

.000

07/01/47

2,004,600

4,000,000

San Diego County Regional Airport Authority, California, Airport

Revenue Bonds, Subordinate Series 2019B, (AMT)

.000

07/01/49

4,052,721

2,500,000

San Diego County Regional Airport Authority, California, Airport

Revenue Bonds, Subordinate Series 2021B, (AMT)

.000

07/01/46

2,559,902

7,000,000

San Diego County Regional Airport Authority, California, Airport

Revenue Bonds, Subordinate Series 2021B, (AMT)

.000

07/01/51

7,115,818

16,055,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2023C, (AMT)

.500

05/01/41

17,720,785

2,175,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2024A, (AMT)

.250

05/01/49

2,285,723

2,330,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2025A, (AMT)

.250

05/01/55

2,442,925

6,130,000

San Francisco Airport Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2025A, (AMT)

.500

05/01/55

6,596,457

14,120,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Governmental Purpose

Second Series 2017B

.000

05/01/47

14,299,565

5,150,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2019A, (AMT)

.000

05/01/44

5,244,114

3,515,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Refunding Second Series

2019A, (AMT)

.000

05/01/49

3,552,689

10,000,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2016B, (AMT)

.000

05/01/41

10,028,895

17,855,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2016B, (AMT)

.000

05/01/46

17,870,404

5,000,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2017A, (AMT)

.000

05/01/47

5,019,815

7,170,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2018D, (AMT)

.000

05/01/43

7,266,613

9,315,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2018D, (AMT)

.000

05/01/48

9,394,609

1,025,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2019E, (AMT)

.000

05/01/40

1,060,813

18,500,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2019E, (AMT)

.000

05/01/45

18,804,601

16,460,000

San Joaquin Hills Transportation Corridor Agency, Orange

County, California, Refunding Senior Lien Toll Road Revenue

Bonds, Series 2021A

.000

01/15/50

15,143,625

3,195,000

San Joaquin Hills Transportation Corridor Agency, Orange

County, California, Toll Road Revenue Bonds, Refunding Junior

Lien Series 2014B

.250

01/15/44

3,196,467

TOTAL TRANSPORTATION

309,893,615

U.S. GUARANTEED - 0.2% (e)

1,235,000

California Health Facilities Financing Authority, Revenue Bonds,

CommonSpirit Health, Series 2020A, (Pre-refunded 4/01/30)

.000

04/01/49

1,314,867

265,000

(a) California School Finance Authority, Charter School Revenue

Bonds, Community High School Foundation Inc, Series 2017,

(Pre-refunded 6/01/27)

.000

06/01/47

273,587

500,000

Corona-Norco Unified School District, Riverside County,

California, General Obligation Bonds, Capital Appreciation,

Election 2006 Refunding Series 2009C, (Pre-refunded 8/01/27) -

AGM Insured

.800

08/01/39

534,985

545,000

Los Angeles Department of Airports, California, Revenue Bonds,

Los Angeles International Airport, Subordinate Lien Series

2021D, (Pre-refunded 11/15/31), (AMT)

.000

05/15/37

601,507

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

#### California Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

U.S. GUARANTEED (e)

(continued)

$

5,000

San Francisco Airports Commission, California, Revenue Bonds,

San Francisco International Airport, Second Series 2018D, (Pre-

refunded 5/01/28), (AMT)

.000

%

05/01/48

$

5,173

TOTAL U.S. GUARANTEED

2,730,119

UTILITIES - 16.7%

12,110,000

(c) California Community Choice Financing Authority, Clean Energy

Project Revenue Bonds, Green Series 2023E, (Mandatory Put

9/01/32)

.000

02/01/55

13,030,982

2,890,000

(c) California Community Choice Financing Authority, Clean Energy

Project Revenue Bonds, Green Series 2024A, (Mandatory Put

4/01/32)

.000

05/01/54

3,096,193

22,830,000

(c) California Community Choice Financing Authority, Clean Energy

Project Revenue Bonds, Green Series 2024B, (Mandatory Put

12/01/32)

.000

01/01/55

24,027,920

14,365,000

(c) California Community Choice Financing Authority, Clean Energy

Project Revenue Bonds, Green Series 2024C, (Mandatory Put

10/01/32)

.000

08/01/55

15,269,387

20,000,000

(c) California Community Choice Financing Authority, Clean Energy

Project Revenue Bonds, Green Series 2025D, (Mandatory Put

7/01/34)

.000

10/01/55

21,027,692

5,000,000

(a) California Pollution Control Financing Authority, Water

Furnishing Revenue Bonds, Poseidon Resources Channelside LP

Desalination Project, Series 2012, (AMT)

.000

07/01/37

5,002,308

18,060,000

(a) California Pollution Control Financing Authority, Water

Furnishing Revenue Bonds, Poseidon Resources Channelside LP

Desalination Project, Series 2012, (AMT)

.000

11/21/45

18,060,078

4,405,000

(a) California Pollution Control Financing Authority, Water Furnishing

Revenue Bonds, San Diego County Water Authoriity Desalination

Project Pipeline, Refunding Series 2019

.000

07/01/39

4,528,522

11,270,000

(c) Central Valley Energy Authority, California, Commodity Supply

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

.000

12/01/55

12,516,968

2,500,000

El Dorado Irrigation District, California, Certificates of

Participation, Revenue Bonds, Series 2024A

.000

03/01/50

2,351,981

6,525,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2017A

.000

07/01/42

6,595,806

8,430,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2017C

.000

07/01/47

8,503,073

4,770,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2019A

.000

07/01/45

4,873,060

32,975,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2020B

.000

07/01/50

33,746,823

6,065,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2021B

.000

07/01/51

6,218,032

2,040,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2022B

.000

07/01/47

2,118,134

5,165,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2022C

.000

07/01/52

5,314,961

5,000,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2023D

.000

07/01/43

5,319,259

5,000,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2023E

.000

07/01/53

5,172,293

465,000

Los Angeles Department of Water and Power, California, Power

System Revenue Bonds, Series 2025A - BAM Insured

.000

07/01/53

485,375

6,640,000

Los Angeles Department of Water and Power, California, Water

System Revenue Bonds, Series 2022D

.000

07/01/52

6,846,472

7,730,000

Los Angeles Department of Water and Power, California,

Waterworks Revenue Bonds, Series 2016A

.000

07/01/46

7,746,803

7,000,000

Los Angeles Department of Water and Power, California,

Waterworks Revenue Bonds, Series 2020C

.000

07/01/40

7,390,223

9,990,000

Los Angeles Department of Water and Power, California,

Waterworks Revenue Bonds, Series 2020C

.000

07/01/41

10,512,641

2,215,000

Pico Rivera Water Authority, California, Revenue Bonds,

Refunding Water System Project, Series 1999A - NPFG Insured

.500

05/01/29

2,307,936

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

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

2,180,000

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

Refunding Senior Lien Series 2020A

.000

%

07/01/47

$

2,145,956

250,000

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

Refunding Senior Lien Series 2021A

.000

07/01/42

229,341

5,110,000

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

Refunding Senior Lien Series 2021B

.000

07/01/42

4,687,737

5,000,000

San Francisco City and County Public Utilities Commission,

California, Water Revenue Bonds, Regional Water & Local Water,

Series 2025D

.000

11/01/55

5,296,882

900,000

San Joaquin County, California, Revenue Bonds, CSA County

Service Area 31, Refunding Series 2018A

.000

08/01/42

903,895

7,145,000

(c) San Joaquin Valley Clean Energy Authority, California, Clean

Energy Project Revenue Bonds, Green Series 2025A, (Mandatory

Put 7/01/35)

.500

01/01/56

8,150,482

3,520,000

(c) Southern California Public Power Authority, California, Revenue

Bonds, Clean Energy Project Revenue Bonds, Series 2024A,

(Mandatory Put 9/01/30)

.000

04/01/55

3,768,267

17,000,000

Southern California Public Power Authority, Southern

Transmission System Renewal Project Revenue Bonds, Series

2023-1A

.000

07/01/48

17,683,896

TOTAL UTILITIES

274,929,378

TOTAL MUNICIPAL BONDS

(Cost $1,656,991,326)

1,621,710,226

TOTAL LONG-TERM INVESTMENTS

(Cost $1,656,991,326)

1,621,710,226

OTHER ASSETS & LIABILITIES, NET - 1.3%

20,855,775

NET ASSETS - 100%

$

1,642,566,001

AMT

Alternative Minimum Tax

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

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

As of the end of the fiscal period, the aggregate value of these securities is $284,729,254 or 17.6% 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) Floating or variable rate security includes the reference rate and spread, when applicable. For mortgage-backed or asset-backed

securities the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.

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

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

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

payment of principal and interest.

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

#### California Municipal Bond

them:

California

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

1,621,710,226

$

–

$

1,621,710,226

Total

$

–

$

1,621,710,226

$

–

$

1,621,710,226

#### Portfolio of Investments November 30, 2025

#### Connecticut Municipal Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 94.9%

X

219,716,115

MUNICIPAL BONDS - 94.9%

X

–

EDUCATION AND CIVIC ORGANIZATIONS - 19.7%

$

1,885,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Fairfield University, Series 2016Q-1

.000

%

07/01/46

$

1,891,951

750,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Fairfield University, Series 2017R

.000

07/01/47

697,977

2,500,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Fairfield University, Series 2022U

.000

07/01/52

2,286,045

400,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Fairfield University, Series 2025V

.000

07/01/42

438,600

350,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Fairfield University, Series 2025V

.000

07/01/44

375,006

1,000,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Fairfield University, Series 2025V

.250

07/01/47

1,077,523

1,545,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Hopkins School, Series 2022E

.250

07/01/47

1,625,972

1,000,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Hopkins School, Series 2022E

.000

07/01/53

1,030,193

1,130,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Loomis Chaffe School, Series 2023L

.000

07/01/43

1,117,994

5,095,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Quinnipiac University, Refunding Series 2015L

.000

07/01/45

5,096,718

1,750,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Quinnipiac University, Series 2016M

.000

07/01/35

1,761,255

2,000,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Quinnipiac University, Series 2023N

.000

07/01/48

2,059,701

1,000,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Quinnipiac University, Series 2023O

.000

07/01/35

1,160,723

375,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Quinnipiac University, Series 2023O

.000

07/01/36

431,209

5,110,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Sacred Heart University, Series 2017I-1

.000

07/01/42

5,191,452

2,000,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Sacred Heart University, Series 2020K

.000

07/01/40

2,108,130

3,465,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Sacred Heart University, Series L

.000

07/01/42

3,688,589

790,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, The Taft School Isue, Series 2021L

.000

07/01/41

695,462

2,210,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, The Taft School Isue, Series 2021L

.000

07/01/46

1,748,763

1,500,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Trinity College, Series 2020R

.000

06/01/45

1,414,685

4,000,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Trinity College, Series 2021S

.000

06/01/46

3,649,234

1,175,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Trinity College, Series 2021S

.000

06/01/51

1,036,449

1,900,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, University of Hartford, Series 2022P

.375

07/01/52

1,732,512

2,000,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, University of New Haven, Series 2018K-1

.000

07/01/37

2,021,747

1,200,000

University of Connecticut, Student Fee Revenue Bonds, Special

Obligation Series 2023A

.250

11/15/48

1,296,269

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

45,634,159

HEALTH CARE - 16.3%

4,600,000

Connecticut Health and Educational Facilities Authority Revenue

Bonds, Hartford HealthCare, Series 2015F

.000

07/01/45

4,601,055

1,000,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Connecticut Children's Medical Center and Subsidiaries,

Series 2023E

.250

07/15/48

1,058,901

5,160,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Connecticut Children's Medical Center and Subsidiaries,

Series 2023E

.250

07/15/53

4,859,466

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

#### Connecticut Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

695,000

(a) Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Griffin Hospital, Series 2020G-1

.000

%

07/01/39

$

700,026

1,085,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Hartford HealthCare Issue, Series 2020A

.000

07/01/40

1,061,029

3,000,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Hartford HealthCare Issue, Series 2021A - BAM Insured

.000

07/01/51

2,732,895

500,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Hartford HealthCare, Series 2014E

.000

07/01/42

500,321

1,995,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Middlesex Hospital, Series 2015O

.000

07/01/36

1,996,885

2,455,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Nuvance Health Series 2019A

.000

07/01/34

2,497,149

2,860,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Nuvance Health Series 2019A

.000

07/01/41

2,777,022

6,020,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Nuvance Health Series 2019A - BAM Insured

.000

07/01/49

5,580,444

1,500,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Stamford Hospital, Forward Delivery Series 2022M

.000

07/01/42

1,420,783

1,885,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Stamford Hospital, Series 2016K

.000

07/01/46

1,716,979

2,350,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Trinity Health Credit Group, Series 2016CT

.000

12/01/41

2,361,084

2,000,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Trinity Health Credit Group, Series 2016CT

.000

12/01/45

2,003,085

985,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Yale-New Haven Health Issue, Series 2024A

.000

07/01/45

1,055,462

795,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Yale-New Haven Health Issue, Series 2024A

.000

07/01/47

842,411

TOTAL HEALTH CARE

37,764,997

HOUSING/MULTIFAMILY - 1.2%

1,890,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2019B-1

.300

11/15/39

1,742,749

1,000,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2025C-1

.650

11/15/40

1,043,020

TOTAL HOUSING/MULTIFAMILY

2,785,769

HOUSING/SINGLE FAMILY - 1.6%

1,440,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Green Series 2021B-3

.150

11/15/41

1,069,019

1,560,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Green Series 2021B-3

.300

11/15/46

1,047,346

190,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2020E-3

.850

05/15/38

142,822

1,430,000

Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Social Series 2024A

.600

11/15/49

1,412,544

TOTAL HOUSING/SINGLE FAMILY

3,671,731

LONG-TERM CARE - 5.6%

1,100,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Duncaster, Inc., Series 2014A

.000

08/01/44

1,069,973

2,600,000

(a) Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Healthcare Facility Expansion Church Home of Hartford

Inc. Project, Series 2016A

.000

09/01/46

2,494,990

900,000

(a) Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Mary Wade Home Issue, Series 2019A-1

.500

10/01/34

850,963

200,000

(a) Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Mary Wade Home Issue, Series 2019A-1

.000

10/01/54

157,511

4,365,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Masonicare Issue, Series 2016F

.000

07/01/37

4,380,171

2,650,000

(a) Connecticut Health and Educational Facilities Authority, Revenue

Bonds, McLean Affiliates, Series 2020A

.000

01/01/45

2,345,106

730,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, The Jerome Home Issue, Series 2021E

.000

07/01/41

661,832

1,250,000

Connecticut Health and Educational Facilities Authority, Revenue

Bonds, The Jerome Home Issue, Series 2021E

.000

07/01/51

989,626

TOTAL LONG-TERM CARE

12,950,172

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL - 21.5%

$

2,000,000

Bridgeport, Connecticut, General Obligation Bonds, Series

2016D - AGM Insured

.000

%

08/15/41

$

2,013,884

1,000,000

Bridgeport, Connecticut, General Obligation Bonds, Series

2024A - BAM Insured

.000

07/01/44

1,076,465

1,000,000

Connecticut Housing Finance Authority, State Supported Special

Obligation Bonds, Series 2021-27

.400

06/15/41

770,193

1,000,000

Connecticut Housing Finance Authority, State Supported Special

Obligation Bonds, Series 2021-27

.550

06/15/46

713,789

960,000

Connecticut Housing Finance Authority, State Supported Special

Obligation Bonds, Series 2021-28

.375

06/15/40

763,309

1,000,000

Connecticut State, General Obligation Bonds, Series 2017A

.000

04/15/34

1,029,477

3,270,000

Connecticut State, General Obligation Bonds, Series 2017A

.000

04/15/35

3,362,212

1,510,000

Connecticut State, General Obligation Bonds, Series 2018A

.000

04/15/37

1,576,002

1,325,000

Connecticut State, General Obligation Bonds, Series 2018C

.000

06/15/38

1,382,034

1,450,000

Connecticut State, General Obligation Bonds, Series 2019A

.000

04/15/37

1,476,461

650,000

Connecticut State, General Obligation Bonds, Series 2019A

.000

04/15/39

685,923

2,000,000

Connecticut State, General Obligation Bonds, Series 2020A

.000

01/15/37

2,058,335

2,000,000

Connecticut State, General Obligation Bonds, Series 2021A -

BAM Insured

.000

01/15/40

1,789,736

500,000

Connecticut State, General Obligation Bonds, Series 2024D

.000

05/01/41

509,233

2,000,000

Connecticut State, General Obligation Bonds, Series 2024D

.000

05/01/42

2,188,188

1,000,000

Connecticut State, General Obligation Bonds, Series 2024D

.000

05/01/44

1,076,600

2,000,000

Connecticut State, General Obligation Bonds, Series 2025C

.000

08/15/44

2,176,794

2,085,000

Connecticut State, General Obligation Bonds, Series 2025C

.000

08/15/45

2,259,297

225,000

Connecticut State, General Obligation Bonds, Social Series

2024G

.000

11/15/43

192,976

300,000

East Haddam, Connecticut, General Obligation Bonds, Series

2020A

.000

12/01/37

287,096

325,000

East Lyme, Connecticut, General Obligation Bonds, Series 2020

.000

07/15/40

287,124

1,035,000

Hartford County Metropolitan District, Connecticut, General

Obligation Bonds, Series 2018

.000

07/15/35

1,088,112

1,075,000

Hartford County Metropolitan District, Connecticut, General

Obligation Bonds, Series 2019A

.000

07/15/39

1,095,896

3,000,000

Hartford County Metropolitan District, Connecticut, General

Obligation Bonds, Series 2023

.000

08/01/43

3,034,446

2,285,000

Naugatuck, Connecticut, General Obligation Bonds, Tax

Increment Series 2023

.250

10/15/48

2,439,975

1,000,000

Naugatuck, Connecticut, General Obligation Bonds, Tax

Increment Series 2023

.625

10/15/53

1,010,215

5,000,000

New Britain, Connecticut, General Obligation Bonds, Series

2022A - BAM Insured

.000

03/01/47

5,200,620

1,000,000

New Haven, Connecticut, General Obligation Bonds, Refunding

Series 2016A - AGM Insured

.000

08/15/36

1,011,868

1,035,000

Oxford, Connecticut, General Obligation Bonds, Series 2019A

.000

08/01/39

1,040,670

2,370,000

Stratford, Connecticut, General Obligation Bonds, Series 2017 -

BAM Insured

.000

01/01/39

2,378,076

555,000

Waterbury, Connecticut, General Obligation Bonds, Lot A Series

2015 - BAM Insured

.000

08/01/30

555,983

485,000

Waterbury, Connecticut, General Obligation Bonds, Lot A Series

2015 - BAM Insured

.000

08/01/31

485,856

765,000

Waterbury, Connecticut, General Obligation Bonds, Lot A Series

2015 - BAM Insured

.000

08/01/32

766,322

555,000

Waterbury, Connecticut, General Obligation Bonds, Lot A Series

2015 - BAM Insured

.000

08/01/33

555,925

555,000

Waterbury, Connecticut, General Obligation Bonds, Lot A Series

2015 - BAM Insured

.000

08/01/34

555,900

750,000

West Haven, Connecticut, General Obligation Bonds, Series

2020 - BAM Insured

.000

03/15/40

757,061

TOTAL TAX OBLIGATION/GENERAL

49,652,053

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

#### Connecticut Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED - 18.8%

$

1,605,000

Connecticut Higher Education Supplemental Loan Authority,

State Supported Revenue Bonds, CHESLA Loan Program, Series

2020B, (AMT)

.250

%

11/15/36

$

1,499,684

1,000,000

Connecticut State, Special Tax Obligation Bonds, Transportation

Infrastructure Purposes Series 2016A

.000

09/01/32

1,017,057

3,500,000

Connecticut State, Special Tax Obligation Bonds, Transportation

Infrastructure Purposes Series 2016A

.000

09/01/33

3,557,629

2,000,000

Connecticut State, Special Tax Obligation Bonds, Transportation

Infrastructure Purposes Series 2018A

.000

01/01/37

2,076,396

2,000,000

Connecticut State, Special Tax Obligation Bonds, Transportation

Infrastructure Purposes Series 2018A

.000

01/01/38

2,070,985

1,500,000

Connecticut State, Special Tax Obligation Bonds, Transportation

Infrastructure Purposes, Series 2021A

.000

05/01/40

1,524,453

2,080,000

Connecticut State, Special Tax Obligation Bonds, Transportation

Infrastructure Purposes, Series 2023A

.250

07/01/44

2,274,393

3,350,000

Connecticut State, Special Tax Obligation Bonds, Transportation

Infrastructure Purposes, Series 2024A-2

.000

07/01/43

3,651,715

500,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.000

01/01/35

562,071

920,000

(a) Great Pond Improvement District, Connecticut, Special

Obligation Revenue Bonds, Great Pond Phase 1 Project, Series

2019

.750

10/01/48

878,426

420,000

(a) Great Pond Improvement District, Connecticut, Special

Obligation Revenue Bonds, Great Pond Phase 2 Project, Series

2022

.750

10/01/52

430,662

3,720,000

(a) Harbor Point Infrastructure Improvement District, Connecticut,

Special Obligation Revenue Bonds, Harbor Point Project,

Refunding Series 2017

.000

04/01/39

3,772,529

635,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/39

659,265

1,825,000

Naugatuck, Connecticut, Certificates of Participation, Incineration

Facilities Project, Series 2021A, (AMT)

.000

08/15/41

1,778,086

1,860,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/46

634,256

4,250,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.750

07/01/53

4,046,005

3,050,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/58

2,973,646

1,000,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured Series 2019A-2B

.550

07/01/40

997,676

100,000

Steel Point Infrastructure Improvement District, Connecticut,

Special Obligation Revenue Bonds, Steelpointe Harbor Project,

Series 2021

.000

04/01/51

86,156

500,000

(a) Steel Point Infrastructure Improvement District, Connecticut,

Special Obligation Revenue Bonds, Steelpointe Harbor Project,

Series 2024

.000

04/01/52

534,306

1,590,000

University of Connecticut, General Obligation Bonds, Series

2015A

.000

02/15/34

1,592,060

3,000,000

University of Connecticut, General Obligation Bonds, Series

2017A

.000

01/15/36

3,070,946

1,000,000

University of Connecticut, General Obligation Bonds, Series

2019A

.000

11/01/36

1,056,293

1,000,000

University of Connecticut, General Obligation Bonds, Series

2019A

.000

11/01/38

1,012,662

420,000

University of Connecticut, General Obligation Bonds, Series

2023A

.000

08/15/43

452,082

1,250,000

Virgin Islands Transportation & Infrastructure Corporation, Virgin

Islands, Grant Anticipation Revenue Bonds, Federal Highway

Grant Anticipation Revenue Loan Note, Series 2025

.000

09/01/41

1,353,561

TOTAL TAX OBLIGATION/LIMITED

43,563,000

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION - 3.3%

$

1,500,000

Connecticut Airport Authority, Connecticut, Customer Facility

Charge Revenue Bonds, Ground Transportation Center Project,

Series 2019A - BAM Insured, (AMT)

.000

%

07/01/49

$

1,360,061

6,125,000

Connecticut Airport Authority, Connecticut, Customer Facility

Charge Revenue Bonds, Ground Transportation Center Project,

Series 2019A, (AMT)

.000

07/01/49

6,203,711

100,000

Guam A.B. Won Pat International Airport Authority, Revenue

Bonds, Series 2024A, (AMT)

.250

10/01/41

105,552

TOTAL TRANSPORTATION

7,669,324

UTILITIES - 6.9%

60,000

Greater New Haven Water Pollution Control Authority,

Connecticut, Regional Wastewater System Revenue Bonds,

Series 2005A - NPFG Insured

.000

08/15/35

60,056

1,250,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Refunding Series 2017

.000

07/01/37

1,273,890

1,000,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Refunding Series 2017

.000

07/01/40

1,014,675

295,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2020A

.000

01/01/50

297,526

200,000

Guam Power Authority, Revenue Bonds, Refunding Series 2024A

.000

10/01/43

207,770

1,555,000

Hartford County Metropolitan District, Connecticut, Clean Water

Project Revenue Bonds, Series 2024

.000

10/01/36

1,657,434

1,795,000

Hartford County Metropolitan District, Connecticut, Clean Water

Project Revenue Bonds, Series 2024

.000

10/01/37

1,900,040

1,000,000

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

Refunding Senior Lien Series 2020A

.000

07/01/47

984,384

2,000,000

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

Refunding Senior Lien Series 2021B

.000

07/01/33

2,090,063

2,540,000

South Central Connecticut Regional Water Authority,

Connecticut, Water System Revenue Bonds, Thirty-Ninth Series

2025A

.000

08/01/54

2,694,575

2,685,000

South Central Connecticut Regional Water Authority,

Connecticut, Water System Revenue Bonds, Thirty-Seventh Series

2023A-1

.000

08/01/51

2,847,402

500,000

Stamford, Connecticut, Water Pollution Control System and

Facility Revenue Bonds, Series 2013A

.250

08/15/43

500,291

500,000

Stamford, Connecticut, Water Pollution Control System and

Facility Revenue Bonds, Series 2019

.000

04/01/44

496,804

TOTAL UTILITIES

16,024,910

TOTAL MUNICIPAL BONDS

(Cost $223,159,010)

219,716,115

TOTAL LONG-TERM INVESTMENTS

(Cost $223,159,010)

219,716,115

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM INVESTMENTS - 3.1%

X

7,190,000

MUNICIPAL BONDS - 3.1%

X

–

EDUCATION AND CIVIC ORGANIZATIONS - 1.5%

$

3,440,000

(b) Connecticut Health and Educational Facilities Authority, Revenue

Bonds, Trinity College, Refunding Series 2008L

.800

07/01/34

$

3,440,000

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

3,440,000

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

#### Connecticut Municipal Bond

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

HOUSING/MULTIFAMILY - 1.6%

$

750,000

(b) Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2017A-3

.850

%

11/15/47

$

750,000

3,000,000

(b) Connecticut Housing Finance Authority, Housing Mortgage

Finance Program Bonds, Series 2018A-3

.790

05/15/48

3,000,000

TOTAL HOUSING/MULTIFAMILY

3,750,000

TOTAL MUNICIPAL BONDS

(Cost $7,190,000)

7,190,000

TOTAL SHORT-TERM INVESTMENTS

(Cost $7,190,000)

7,190,000

TOTAL INVESTMENTS - 98.0%

(Cost $230,349,010)

226,906,115

OTHER ASSETS & LIABILITIES, NET - 2.0%

4,537,630

NET ASSETS - 100%

$

231,443,745

AMT

Alternative Minimum Tax

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

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

As of the end of the fiscal period, the aggregate value of these securities is $15,238,966 or 6.7% of Total Investments.

(b) 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.

Connecticut

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

219,716,115

$

–

$

219,716,115

Short-Term Investments:

Municipal Bonds

–

7,190,000

–

7,190,000

Total

$

–

$

226,906,115

$

–

$

226,906,115

#### Portfolio of Investments November 30, 2025

#### Massachusetts Municipal Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 98.3%

X

409,209,422

MUNICIPAL BONDS - 98.3%

X

–

EDUCATION AND CIVIC ORGANIZATIONS - 25.3%

$

2,065,000

Lowell, Massachusetts, Collegiate Charter School Revenue

Bonds, Series 2019

.000

%

06/15/39

$

2,067,795

1,750,000

Lowell, Massachusetts, Collegiate Charter School Revenue

Bonds, Series 2019

.000

06/15/49

1,667,542

1,260,000

Massachusetts Development Finance Agency, Revenue Bonds,

Berklee College of Music, Series 2016

.000

10/01/39

1,272,878

5,165,000

Massachusetts Development Finance Agency, Revenue Bonds,

Berklee College of Music, Series 2016

.000

10/01/46

5,183,465

2,350,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston College, Series 2017T

.000

07/01/39

2,408,482

1,020,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston College, Series 2017T

.000

07/01/42

1,038,643

4,545,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston University, Refunding Series 2025B-2

.000

10/01/48

4,844,642

1,195,000

Massachusetts Development Finance Agency, Revenue Bonds,

Brandeis University Issue, Series 2018R

.000

10/01/37

1,252,571

840,000

Massachusetts Development Finance Agency, Revenue Bonds,

Brandeis University Issue, Series 2018R

.000

10/01/38

878,522

1,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Brandeis University Issue, Series 2018R

.000

10/01/39

1,044,294

1,510,000

Massachusetts Development Finance Agency, Revenue Bonds,

Emerson College, Series 2016A

.250

01/01/42

1,515,231

1,500,000

Massachusetts Development Finance Agency, Revenue Bonds,

Emerson College, Series 2016A

.000

01/01/47

1,462,802

1,600,000

Massachusetts Development Finance Agency, Revenue Bonds,

Emerson College, Series 2017A

.000

01/01/37

1,627,125

6,020,000

Massachusetts Development Finance Agency, Revenue Bonds,

Emerson College, Series 2017A

.000

01/01/40

6,073,414

2,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Emerson College, Series 2018

.000

01/01/43

2,000,914

680,000

Massachusetts Development Finance Agency, Revenue Bonds,

Emerson College, Series 2025

.250

01/01/44

692,921

2,500,000

Massachusetts Development Finance Agency, Revenue Bonds,

Emmanuel College, Series 2016A

.000

10/01/43

2,393,282

2,055,000

Massachusetts Development Finance Agency, Revenue Bonds,

Lesley University, Series 2016

.000

07/01/36

2,063,790

550,000

Massachusetts Development Finance Agency, Revenue Bonds,

MCPHS University Issue, Series 2015H

.500

07/01/35

545,448

235,000

Massachusetts Development Finance Agency, Revenue Bonds,

MCPHS University Issue, Series 2015H

.000

07/01/37

235,277

700,000

Massachusetts Development Finance Agency, Revenue Bonds,

Merrimack College, Series 2017

.000

07/01/37

703,058

1,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Merrimack College, Series 2022

.000

07/01/52

975,646

1,220,000

Massachusetts Development Finance Agency, Revenue Bonds,

Middlesex School, Series 2024

.250

07/01/54

1,151,517

2,080,000

Massachusetts Development Finance Agency, Revenue Bonds,

Northeastern University, Series 2022

.000

10/01/44

2,217,406

2,345,000

Massachusetts Development Finance Agency, Revenue Bonds,

Northeastern University, Series 2024A

.000

10/01/42

2,584,209

2,415,000

Massachusetts Development Finance Agency, Revenue Bonds,

Sterling and Francine Clark Art Institute, Series 2016

.000

07/01/41

2,366,506

610,000

Massachusetts Development Finance Agency, Revenue Bonds,

Suffolk University, Refunding Series 2019

.000

07/01/37

618,204

875,000

Massachusetts Development Finance Agency, Revenue Bonds,

Tufts University, Series 2015Q

.000

08/15/38

875,379

3,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Wentworth Institute of Technology, Series 2017

.000

10/01/46

2,931,843

1,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Wheaton College, Series 2017H

.000

01/01/37

1,014,957

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

#### Massachusetts Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

1,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Woods Hole Oceanographic Institution, Series 2018

.000

%

06/01/37

$

1,040,524

1,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Woods Hole Oceanographic Institution, Series 2018

.000

06/01/38

1,037,895

6,210,000

Massachusetts Development Finance Agency, Revenue Bonds,

Woods Hole Oceanographic Institution, Series 2018

.000

06/01/48

6,306,452

5,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Worcester Polytechnic Institute, Series 2017B

.000

09/01/42

5,078,693

7,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Worcester Polytechnic Institute, Series 2017B

.000

09/01/45

7,071,276

745,000

Massachusetts Development Finance Agency, Revenue Bonds,

Worcester Polytechnic Institute, Series 2019

.000

09/01/33

798,096

3,000,000

Massachusetts Development Finance Authority, Revenue Bonds,

Olin College, Refunding Series 2023G

.250

11/01/51

3,176,310

700,000

Massachusetts Development Finance Authority, Revenue Bonds,

Suffolk University, Refunding Series 2017

.000

07/01/35

706,515

500,000

Massachusetts Development Finance Authority, Revenue Bonds,

Suffolk University, Refunding Series 2017

.000

07/01/36

503,734

2,345,000

Massachusetts Development Finance Authority, Revenue Bonds,

WGBH Educational Foundation, Refunding Series 2016

.000

01/01/36

2,361,866

2,100,000

Massachusetts Development Finance Authority, Revenue Bonds,

WGBH Educational Foundation, Series 2002A - AMBAC Insured

.750

01/01/42

2,460,693

1,000,000

Massachusetts Educational Financing Authority, Student Loan

Revenue Bonds, Issue I Series 2014, (AMT)

.000

01/01/27

1,002,933

3,355,000

University of Massachusetts Building Authority, Project Revenue

Bonds, Senior Series 2015-1

.000

11/01/40

3,358,055

5,550,000

University of Massachusetts Building Authority, Project Revenue

Bonds, Senior Series 2022-1

.000

11/01/46

5,295,952

9,000,000

University of Massachusetts Building Authority, Project Revenue

Bonds, Senior Series 2022-1

.000

11/01/52

9,273,377

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

105,180,134

HEALTH CARE - 20.6%

1,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Baystate Medical Center Issue, Series 2014N

.000

07/01/34

1,001,287

5,700,000

Massachusetts Development Finance Agency, Revenue Bonds,

Baystate Medical Center Issue, Series 2014N

.000

07/01/44

5,702,327

2,250,000

Massachusetts Development Finance Agency, Revenue Bonds,

Beth Israel Lahey Health Inc Series 2025N

.250

07/01/44

2,416,199

10,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Children's Hospital Series 2024T

.250

03/01/54

10,630,772

7,800,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Green Bonds, Series 2015D

.000

07/01/44

7,700,545

2,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2016E

.000

07/01/32

2,015,231

11,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Boston Medical Center Issue, Series 2023G

.250

07/01/52

11,068,347

1,675,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Refunding Series 2016-I

.000

07/01/30

1,695,848

1,500,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Refunding Series 2016-I

.000

07/01/37

1,514,593

1,935,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Refunding Series 2016-I

.000

07/01/38

1,952,403

2,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/48

2,028,933

2,100,000

Massachusetts Development Finance Agency, Revenue Bonds,

CareGroup Issue, Series 2018J-2

.000

07/01/53

2,121,228

6,100,000

Massachusetts Development Finance Agency, Revenue Bonds,

Dana-Farber Cancer Institute Issue, Series 2016N

.000

12/01/46

6,134,284

3,280,000

Massachusetts Development Finance Agency, Revenue Bonds,

Lahey Health System Obligated Group Issue, Series 2015F

.000

08/15/45

3,280,924

6,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Mass General Brigham, Series 2024D

.000

07/01/47

6,285,695

1,250,000

Massachusetts Development Finance Agency, Revenue Bonds,

Partners HealthCare System Issue, Series 2016Q

.000

07/01/41

1,240,292

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

4,710,000

Massachusetts Development Finance Agency, Revenue Bonds,

Partners HealthCare System Issue, Series 2016Q

.000

%

07/01/47

$

4,725,762

2,200,000

Massachusetts Development Finance Agency, Revenue Bonds,

Partners HealthCare System Issue, Series 2017S-1

.000

07/01/37

2,271,797

1,750,000

Massachusetts Development Finance Agency, Revenue Bonds,

Southcoast Health System Obligated Group Issue, Series 2013F

.000

07/01/27

1,751,856

1,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Southcoast Health System Obligated Group Issue, Series 2013F

.000

07/01/37

1,000,894

3,800,000

Massachusetts Development Finance Agency, Revenue Bonds,

The Lowell General Hospital, Series 2013G

.000

07/01/44

3,658,847

890,000

Massachusetts Development Finance Agency, Revenue Bonds,

UMass Memorial Health Care Obligated Group Issue, Series

2017K

.000

07/01/38

898,519

400,000

Massachusetts Development Finance Agency, Revenue Bonds,

UMass Memorial Health Care Obligated Group Issue, Series

2017L

.625

07/01/37

365,354

1,855,000

Massachusetts Development Finance Agency, Revenue Bonds,

UMass Memorial Health Care Obligated Group Issue, Series

2017L

.000

07/01/44

1,853,431

2,065,000

Massachusetts Development Finance Agency, Revenue Bonds,

UMass Memorial Issue Series 2025N-1

.250

07/01/50

2,110,277

500,000

Massachusetts Development Finance Agency, Revenue Bonds,

Wellforce Issue, Series 2019A

.000

07/01/44

495,401

TOTAL HEALTH CARE

85,921,046

HOUSING/MULTIFAMILY - 0.8%

500,000

(a) Massachusetts Development Finance Agency, Revenue Bonds,

CHF Merrimack, Inc. Merrimack College Student Housing Project,

Series 2024A

.250

07/01/34

509,068

200,000

(a) Massachusetts Development Finance Agency, Revenue Bonds,

CHF Merrimack, Inc. Merrimack College Student Housing Project,

Series 2024A

.000

07/01/54

190,786

2,685,000

Massachusetts Housing Finance Agency, Housing Bonds,

Sustainability Green Series 2022C-1

.000

12/01/47

2,769,888

TOTAL HOUSING/MULTIFAMILY

3,469,742

LONG-TERM CARE - 0.9%

1,910,000

(a) Massachusetts Development Finance Agency Revenue

Refunding Bonds, NewBridge on the Charles, Inc. Issue, Series

2017

.125

10/01/42

1,779,201

275,000

(a) Massachusetts Development Finance Agency Revenue

Refunding Bonds, NewBridge on the Charles, Inc. Issue, Series

2017

.000

10/01/47

273,213

560,000

Massachusetts Development Finance Agency, Revenue Bonds,

Berkshire Retirement Community Lennox, Series 2015

.000

07/01/31

560,557

400,000

Massachusetts Development Finance Agency, Revenue Bonds,

Orchard Cove, Inc., Refunding Series 2019

.000

10/01/39

408,585

1,000,000

Massachusetts Development Finance Agency, Revenue Bonds,

Salem Community Corporation, Refunding Series 2022

.250

01/01/50

930,429

TOTAL LONG-TERM CARE

3,951,985

TAX OBLIGATION/GENERAL - 24.0%

825,000

Andover, Massachusetts, General Obligation Bonds, Municipal

Purpose Loan Series 2022

.000

07/15/42

836,447

4,375,000

Boston, Massachusetts, General Obligation Bonds, Series 2025A

.000

02/01/43

4,811,360

3,800,000

Boston, Massachusetts, General Obligation Bonds, Series 2025A

.000

02/01/45

4,125,960

4,000,000

East Longmeadow, Massachusetts, General Obligation Bonds,

Municipal Purpose Loan Series 2024

.000

11/01/54

3,777,600

4,060,000

Greater Fall River Regional Vocational Technical School District,

Massachusetts, State Qualified General Obligation Bonds, School

Project Loan, Chapter 70B Series 2025

.000

06/01/44

4,348,105

6,960,000

Greater Fall River Regional Vocational Technical School District,

Massachusetts, State Qualified General Obligation Bonds, School

Project Loan, Chapter 70B Series 2025

.000

06/01/49

7,290,871

1,740,000

Hudson, Massachusetts, General Obligation Bonds, Municipal

Purpose Loan Series 2011

.000

02/15/32

1,743,377

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

#### Massachusetts Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

7,400,000

Lincoln, Massachusetts, General Obligation Bonds, School Series

2019

.000

%

03/01/49

$

7,239,778

2,000,000

Massachusetts Development Finance Agency, Special Obligation

Bonds, Commonwealth Contract Assistance, Series 2015A

.000

05/01/45

1,948,817

3,000,000

Massachusetts State, General Obligation Bonds, Consolidated

Loan, Series 2015C

.000

07/01/45

3,001,859

5,000,000

Massachusetts State, General Obligation Bonds, Consolidated

Loan, Series 2018A

.000

01/01/47

5,081,357

1,775,000

Massachusetts State, General Obligation Bonds, Consolidated

Loan, Series 2019A

.000

01/01/49

1,812,738

8,335,000

Massachusetts State, General Obligation Bonds, Consolidated

Loan, Series 2019C

.000

05/01/45

8,581,323

7,000,000

Massachusetts State, General Obligation Bonds, Consolidated

Loan, Series 2022C

.250

10/01/47

7,455,980

15,000,000

Massachusetts State, General Obligation Bonds, Consolidated

Series 2022E

.000

11/01/52

15,558,999

1,000,000

North Reading, Massachusetts, General Obligation Bonds,

Municipal Purpose Loan Series 2012

.000

05/15/35

1,001,750

1,685,000

Northeast Metropolitan Regional Vocational Technical School

District, Massachusetts, General Obligation Bonds, School Series

2022

.000

04/15/47

1,611,413

1,965,000

Northeast Metropolitan Regional Vocational Technical School

District, Massachusetts, General Obligation Bonds, School Series

2024

.000

05/15/46

1,890,739

1,950,000

Pentucket Regional School District, Massachusetts, General

Obligation Bonds, Series 2019

.000

09/01/42

1,658,083

3,000,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/46

2,669,358

3,000,000

Quincy, Massachusetts, General Obligation Bonds, Municipal

Purpose Loan Series 2022B

.000

07/01/47

3,146,433

1,500,000

Quincy, Massachusetts, General Obligation Bonds, Municipal

Purpose Loan Series 2022B

.000

07/01/51

1,555,310

5,535,000

Taunton, Massachusetts, General Obligation Bonds, Municipal

Purpose Loan Series 2024

.000

03/01/51

5,272,885

3,440,000

Webster, Massachusetts, General Obligation Bonds, Qualified

School Project, Chapter 70B, Loan Series 2022

.000

12/01/42

3,438,518

TOTAL TAX OBLIGATION/GENERAL

99,859,060

TAX OBLIGATION/LIMITED - 17.5%

500,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.000

01/01/34

558,525

1,160,000

Guam Government, Limited Obligation Section 30 Revenue

Bonds, Series 2016A

.000

12/01/31

1,175,082

2,000,000

Guam Government, Limited Obligation Section 30 Revenue

Bonds, Series 2016A

.000

12/01/46

2,017,671

1,010,000

Martha's Vineyard Land Bank, Massachusetts, Revenue Bonds,

Refunding Green Series 2014 - BAM Insured

.000

05/01/33

1,020,072

3,525,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2023A-1

.250

07/01/53

3,749,265

2,045,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Series 2025B

.000

07/01/45

2,205,764

5,000,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Senior Sustainability Series 2024B

.250

07/01/54

5,349,175

2,050,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Subordinated Series 2017A-2

.000

07/01/44

2,077,725

3,065,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Subordinated Series 2017A-2

.000

07/01/46

3,101,184

2,165,000

Massachusetts Bay Transportation Authority, Sales Tax Revenue

Bonds, Subordinated Series 2021A-1

.000

07/01/39

2,210,952

3,020,000

Massachusetts School Building Authority, Dedicated Sales Tax

Revenue Bonds, Senior Social Series 2020A

.000

08/15/50

3,110,404

1,100,000

Massachusetts School Building Authority, Senior Dedicated Sales

Tax Revenue Bonds, Subordinated Social Series 2025A

.000

02/15/50

1,160,596

6,380,000

Massachusetts School Building Authority, Senior Dedicated Sales

Tax Revenue Bonds, Subordinated Social Series 2025A

.000

02/15/55

6,701,688

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

3,000,000

Massachusetts State, Special Obligation Dedicated Tax Revenue

Bonds, Refunding Series 2005 - NPFG Insured

.500

%

01/01/34

$

3,432,500

8,180,000

Massachusetts State, Transportation Fund Revenue Bonds, Rail

Enhancement & Accelerated Bridge Programs, Series 2017A

.000

06/01/47

8,273,633

5,540,000

Massachusetts State, Transportation Fund Revenue Bonds, Rail

Enhancement & Accelerated Bridge Programs, Series 2019A

.000

06/01/49

5,658,336

5,815,000

Massachusetts State, Transportation Fund Revenue Bonds, Rail

Enhancement Program, Series 2024B

.000

06/01/54

6,094,185

5,000

Massachusetts State, Transportation Fund Revenue Bonds,

Refunding Series 2021A

.000

06/01/42

5,310

1,510,000

Matching Fund Special Purpose Securitization Corporation,

Virgin Islands, Revenue Bonds, Series 2022A

.000

10/01/39

1,567,700

3,177,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.550

07/01/40

3,169,616

4,725,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.750

07/01/53

4,498,206

5,840,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.784

07/01/58

5,513,367

TOTAL TAX OBLIGATION/LIMITED

72,650,956

TRANSPORTATION - 2.6%

1,500,000

Massachusetts Port Authority, Revenue Bonds, Refunding Series

2017A, (AMT)

.000

07/01/42

1,509,606

1,780,000

Massachusetts Port Authority, Revenue Bonds, Series 2014A

.000

07/01/34

1,785,695

1,425,000

Massachusetts Port Authority, Revenue Bonds, Series 2015A

.000

07/01/40

1,426,139

3,500,000

Massachusetts Port Authority, Revenue Bonds, Series 2019C,

(AMT)

.000

07/01/49

3,538,067

2,500,000

Massachusetts Port Authority, Revenue Bonds, Series 2021E,

(AMT)

.000

07/01/46

2,551,244

TOTAL TRANSPORTATION

10,810,751

U.S. GUARANTEED - 0.3% (b)

100,000

Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (ETM)

.000

07/15/30

110,792

100,000

Massachusetts Development Finance Agency, Revenue Bonds,

Milford Regional Medical Center Issue, Series 2020G, (Pre-

refunded 7/15/30)

.000

07/15/37

110,793

1,000,000

Massachusetts Water Resources Authority, General Revenue

Bonds, Series 2016B, (Pre-refunded 8/01/26)

.000

08/01/40

1,016,565

TOTAL U.S. GUARANTEED

1,238,150

UTILITIES - 6.3%

4,000,000

Boston Water and Sewer Commission, Massachusetts, General

Revenue Bonds, Senior Series 2018A

.000

11/01/40

4,006,754

2,805,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Refunding Series 2017

.000

07/01/40

2,846,163

920,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2016

.000

01/01/46

920,695

2,500,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2020A

.000

01/01/50

2,521,404

1,650,000

Massachusetts Clean Water Trust, State Revolving Fund Bonds,

Green 23B Series 2021

.000

02/01/41

1,764,660

1,000,000

Massachusetts Clean Water Trust, State Revolving Fund Bonds,

Green 26A Series 2025

.000

02/01/42

1,114,759

2,250,000

Massachusetts Clean Water Trust, State Revolving Fund Bonds,

Green 26B Series 2025

.000

02/01/42

2,508,208

2,450,000

Massachusetts Clean Water Trust, State Revolving Fund Bonds,

Green 26B Series 2025

.000

02/01/43

2,704,704

1,310,000

Massachusetts Municipal Wholesale Electric Company, MMWEC,

Revenue Bonds, Project 2015A, Series 2021A

.000

07/01/40

1,324,304

1,400,000

Massachusetts Municipal Wholesale Electric Company, MMWEC,

Revenue Bonds, Project 2015A, Series 2021A

.000

07/01/41

1,405,494

2,000,000

Massachusetts Municipal Wholesale Electric Company, MMWEC,

Revenue Bonds, Project 2015A, Series 2021A

.000

07/01/46

1,905,650

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

#### Massachusetts Municipal Bond

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)

$

3,000,000

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

Refunding Senior Lien Series 2021B

.000

%

07/01/37

$

3,104,803

TOTAL UTILITIES

26,127,598

TOTAL MUNICIPAL BONDS

(Cost $407,624,052)

409,209,422

TOTAL LONG-TERM INVESTMENTS

(Cost $407,624,052)

409,209,422

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM INVESTMENTS - 0.5%

X

2,000,000

MUNICIPAL BONDS - 0.5%

X

–

EDUCATION AND CIVIC ORGANIZATIONS - 0.5%

$

2,000,000

(c) Massachusetts Development Finance Agency, Revenue Bonds,

Boston University, Series 2008U-6E

.100

10/01/42

$

2,000,000

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

2,000,000

TOTAL SHORT-TERM INVESTMENTS

(Cost $2,000,000)

2,000,000

TOTAL INVESTMENTS - 98.8%

(Cost $409,624,052)

411,209,422

OTHER ASSETS & LIABILITIES, NET - 1.2%

5,002,325

NET ASSETS - 100%

$

416,211,747

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 fiscal period, the aggregate value of these securities is $5,857,071 or 1.4% of Total Investments.

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

payment of principal and interest.

(c) 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.

Massachusetts

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

409,209,422

$

–

$

409,209,422

Short-Term Investments:

Municipal Bonds

–

2,000,000

–

2,000,000

Total

$

–

$

411,209,422

$

–

$

411,209,422

#### Portfolio of Investments November 30, 2025

#### New Jersey Municipal Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 96.3%

X

368,077,835

MUNICIPAL BONDS - 96.3%

X

–

CONSUMER STAPLES - 2.7%

$

1,955,000

Tobacco Settlement Financing Corporation, New Jersey, Tobacco

Settlement Asset-Backed Bonds, Series 2018A

.000

%

06/01/37

$

1,947,162

3,590,000

Tobacco Settlement Financing Corporation, New Jersey, Tobacco

Settlement Asset-Backed Bonds, Series 2018A

.000

06/01/46

3,573,372

4,890,000

Tobacco Settlement Financing Corporation, New Jersey, Tobacco

Settlement Asset-Backed Bonds, Series 2018B

.000

06/01/46

4,754,844

TOTAL CONSUMER STAPLES

10,275,378

EDUCATION AND CIVIC ORGANIZATIONS - 12.8%

1,240,000

Atlantic County Improvement Authority, New Jersey, General

Obligation Lease Revenue Bonds, Stockton University Atlantic

City Campus Phase II, Series 2021A - AGM Insured

.000

07/01/47

1,154,754

715,000

Camden County Improvement Authority, New Jersey, School

Revenue Bonds, KIPP: Cooper Norcross Academy 2022 Project,

Social Series 2022

.000

06/15/62

742,321

1,050,000

Gloucester County Improvement Authority, New Jersey, Revenue

Bonds, Rowan University Project, County Gauranteed Loan,

Series 2019

.000

07/01/44

1,089,637

1,025,000

Gloucester County Improvement Authority, New Jersey, Revenue

Bonds, Rowan University Project, County Guaranteed Loan,

Series 2024 - BAM Insured

.000

07/01/49

1,067,725

1,000,000

Gloucester County Improvement Authority, New Jersey, Revenue

Bonds, Rowan University Project, County Guaranteed Loan,

Series 2024 - BAM Insured

.000

07/01/54

1,037,359

510,000

Montclair State University, New Jersey, General Obligation

Bonds, Series 2025A

.000

07/01/32

577,901

350,000

Montclair State University, New Jersey, General Obligation

Bonds, Series 2025A

.000

07/01/33

400,534

285,000

Montclair State University, New Jersey, General Obligation

Bonds, Series 2025A

.000

07/01/34

328,183

860,000

New Jersey Economic Development Authority, Charter School

Revenue Bonds, Central Jersey College Prep Charter School

Project, Series 2025

.250

11/01/60

861,221

225,000

New Jersey Economic Development Authority, Charter School

Revenue Bonds, Foundation Academy Charter School, Series

2018A

.000

07/01/38

226,004

2,805,000

New Jersey Economic Development Authority, Charter School

Revenue Bonds, North Star Academy Charter School of Newark,

Series 2017

.000

07/15/37

2,768,417

100,000

New Jersey Economic Development Authority, Charter School

Revenue Bonds, North Star Academy Charter School of Newark,

Series 2017

.000

07/15/47

100,049

100,000

(a) New Jersey Economic Development Authority, Charter School

Revenue Bonds, Teaneck Community Charter School, Series

2017A

.125

09/01/52

96,304

355,000

New Jersey Economic Development Authority, Revenue Bonds,

The Seeing Eye Inc., Refunding Series 2017

.000

06/01/32

353,075

195,000

New Jersey Economic Development Authority, Revenue Bonds,

The Seeing Eye Inc., Refunding Series 2017

.000

06/01/32

202,122

1,145,000

New Jersey Educational Facilities Authority, Revenue Bonds,

College of New Jersey, Refunding Series 2016F

.000

07/01/40

982,842

950,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Kean University, Refunding Series 2015H - AGM Insured

.000

07/01/39

950,177

2,150,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Montclair State University, Refunding Series 2024A - AGM

Insured

.000

07/01/43

2,318,291

1,125,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Princeton University, Refunding Series 2017I

.000

07/01/35

1,162,716

2,000,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Princeton University, Refunding Series 2024C

.000

03/01/26

2,012,484

2,000,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Princeton University, Series 2024A-1

.000

03/01/37

2,301,450

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

2,000,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Princeton University, Series 2024B

.250

%

03/01/54

$

2,169,467

1,600,000

(b) New Jersey Educational Facilities Authority, Revenue Bonds,

Princeton University, Series 2025A, (Mandatory Put 7/01/35)

.000

07/01/64

1,863,868

360,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Rider University, Series 2017F

.750

07/01/37

276,332

1,370,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Rider University, Series 2017F

.000

07/01/42

990,838

1,000,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Seton Hall University, Refunding Series 2015C

.000

07/01/32

1,000,906

525,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Seton Hall University, Series 2013D

.000

07/01/38

525,321

1,870,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Seton Hall University, Series 2016C

.000

07/01/41

1,555,149

2,430,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Seton Hall University, Series 2016C

.000

07/01/46

1,812,492

1,085,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Seton Hall University, Series 2016C

.000

07/01/46

971,073

1,040,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Seton Hall University, Series 2020C - AGM Insured

.250

07/01/49

855,318

3,225,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Stevens Institute of Technology Issue, Green Series 2020A

.000

07/01/50

2,868,031

500,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Stevens Institute of Technology, Series 2017A

.000

07/01/47

453,811

380,000

New Jersey Educational Facilities Authority, Revenue Bonds,

Stevens Institute of Technology, Series 2017A

.000

07/01/47

381,794

630,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Refunding Senior Series 2021B,

(AMT)

.500

12/01/40

592,910

445,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Refunding Series 2018A, (AMT)

.750

12/01/31

443,555

95,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Refunding Series 2018A, (AMT)

.000

12/01/35

94,982

1,215,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Refunding Series 2023B, (AMT)

.000

12/01/44

1,170,500

500,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Refunding Series 2024B, (AMT)

.250

12/01/45

497,835

1,000,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Refunding Series 2025-1B, (AMT)

.500

12/01/45

1,027,140

1,270,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Refunding Subordinate Series

2021C, (AMT)

.250

12/01/51

920,539

80,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Senior Lien Series 2017-1A, (AMT)

.750

12/01/33

79,983

10,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Senior Lien Series 2017-1A, (AMT)

.000

12/01/40

9,994

265,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Senior Series 2019B, (AMT)

.250

12/01/39

257,264

370,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Senior Series 2020B, (AMT)

.500

12/01/39

357,802

1,740,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Subordinate Series 2017-C, (AMT)

.250

12/01/47

1,623,268

1,460,000

New Jersey Higher Education Student Assistance Authority,

Student Loan Revenue Bonds, Subordinate Series 2019C, (AMT)

.625

12/01/49

1,129,131

1,420,000

New Jersey Institute of Technology, New Jersey, General

Obligation Bonds, Series 2025A - BAM Insured

.000

07/01/45

1,532,497

1,145,000

New Jersey Institute of Technology, New Jersey, General

Obligation Bonds, Series 2025A - BAM Insured

.250

07/01/50

1,244,140

1,335,000

Passaic County Improvement Authority, New Jersey, Charter

School Revenue Bonds, Paterson Arts & Science Charter School,

Series 2023

.375

07/01/53

1,362,398

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

48,801,904

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

#### New Jersey Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE - 8.1%

$

1,800,000

New Jersey Health Care Facilities Authority, Revenue Bonds,

Atlanticare Health System Obligated Group Issue, Series 2021

.375

%

07/01/46

$

1,171,795

1,945,000

New Jersey Health Care Facilities Authority, Revenue Bonds,

Atlanticare Health System Obligated Group Issue, Series 2021

.000

07/01/46

1,536,734

1,000,000

New Jersey Health Care Facilities Authority, Revenue Bonds,

Atlanticare Health System Obligated Group Issue, Series 2021

.000

07/01/51

744,208

70,000

New Jersey Health Care Facilities Finance Authority, Revenue

Bonds, AHS Hospital Corporation, Series 2008A

.000

07/01/27

70,065

1,395,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, AHS Hospital Corporation, Refunding Series 2016

.000

07/01/41

1,385,758

965,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Hackensack Meridian Health Obligated Group, Refunding

Series 2017A

.000

07/01/57

972,856

1,000,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Inspira Health Obligated Group Issue, Refunding Series

2016A

.000

07/01/27

1,012,866

2,105,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Inspira Health Obligated Group Issue, Refunding Series

2016A

.000

07/01/41

2,105,694

2,700,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Inspira Health Obligated Group Issue, Series 2017A

.000

07/01/42

2,732,686

1,025,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Inspira Health Obligated Group Issue, Series 2024A

.125

07/01/54

942,632

2,000,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Inspira Health Obligated Group Issue, Series 2024A

.250

07/01/54

2,122,573

610,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Princeton HealthCare System, Series 2016A

.000

07/01/33

617,350

600,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Princeton HealthCare System, Series 2016A

.000

07/01/34

607,133

2,090,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, RWJ Barnabas Health Obligated Group, Refunding Series

2016A

.000

07/01/43

2,100,986

2,165,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, RWJ Barnabas Health Obligated Group, Series 2021A

.000

07/01/45

2,069,994

2,245,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, RWJ Barnabas Health Obligated Group, Series 2021A

.000

07/01/51

1,717,813

2,710,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Saint Joseph's Healthcare System Obligated Group Issue,

Refunding Series 2016

.000

07/01/32

2,533,043

370,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Saint Joseph's Healthcare System Obligated Group Issue,

Refunding Series 2016

.000

07/01/34

370,084

2,695,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Saint Joseph's Healthcare System Obligated Group Issue,

Refunding Series 2016

.000

07/01/41

2,700,931

1,450,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Saint Joseph's Healthcare System Obligated Group Issue,

Refunding Series 2016

.000

07/01/48

1,263,828

1,190,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Valley Health System Obligated Group, Series 2019

.000

07/01/44

1,125,174

1,215,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Valley Health System Obligated Group, Series 2019

.000

07/01/49

948,865

TOTAL HEALTH CARE

30,853,068

HOUSING/MULTIFAMILY - 5.4%

150,000

New Jersey Economic Development Authority, Revenue Bonds,

Provident Group - Kean Properties LLC - Kean University Student

Housing Project, Series 2017A

.000

07/01/47

141,487

450,000

New Jersey Economic Development Authority, Revenue Bonds,

Provident Group - Kean Properties LLC - Kean University Student

Housing Project, Series 2017A

.000

01/01/50

416,825

2,440,000

New Jersey Economic Development Authority, Revenue Bonds,

West Campus Housing LLC - New Jersey City University Student

Housing Project, Series 2015

.000

07/01/47

2,162,892

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

1,410,923

New Jersey Housing & Mortgage Finance Agency, Multifamily

Conduit Revenue Bonds, Cherry Garden Apartments Project,

Series 2021B

.375

%

01/01/39

$

1,163,116

520,000

New Jersey Housing & Mortgage Finance Agency, Multifamily

Conduit Revenue Bonds, Riverview Towers Apartments, Series

2024B

.250

12/20/65

574,030

700,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Conduit Revenue Bonds, Montgomery Gateway Apartments,

Series 2025A

.550

05/01/41

739,470

1,310,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2015A

.000

11/01/45

1,227,022

1,135,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2016A

.750

11/01/45

1,054,099

2,145,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2016B

.600

11/01/40

2,082,404

1,275,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2018A

.600

11/01/33

1,280,345

1,045,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2018A

.950

11/01/43

1,014,181

650,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2018A

.000

11/01/48

597,281

500,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2018A

.100

11/01/53

450,353

1,750,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2019A

.900

11/01/39

1,501,729

530,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2019A

.000

11/01/44

441,180

870,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2019A

.050

11/01/49

680,966

490,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2019A

.150

05/01/53

371,066

600,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2020A

.450

11/01/45

433,543

2,470,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2021A

.450

11/01/41

1,912,111

1,090,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2023C, (AMT)

.850

05/01/33

1,125,732

855,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2023E-1

.500

05/01/50

837,418

500,000

New Jersey Housing and Mortgage Finance Agency, Multifamily

Revenue Bonds, Series 2023E-1

.550

05/01/55

501,399

TOTAL HOUSING/MULTIFAMILY

20,708,649

HOUSING/SINGLE FAMILY - 5.7%

920,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Series 2018A

.750

10/01/35

921,000

2,150,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Series 2018B, (AMT)

.800

10/01/32

2,152,108

2,710,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Series 2019C

.000

04/01/49

2,460,800

1,540,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Series 2020E

.250

10/01/40

1,197,238

865,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Series 2020E

.500

04/01/51

861,265

2,000,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Series 2024K

.150

10/01/39

2,019,287

6,840,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Social Series 2021H

.300

10/01/46

4,858,780

1,885,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Social Series 2022I

.500

10/01/42

1,919,631

1,260,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Social Series 2022I

.600

10/01/46

1,275,964

1,000,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Social Series 2023J

.500

10/01/43

1,019,529

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

#### New Jersey Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/SINGLE FAMILY

(continued)

$

1,150,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Social Series 2023J

.700

%

10/01/48

$

1,150,783

1,845,000

New Jersey Housing and Mortgage Finance Agency, Single

Family Housing Revenue Bonds, Social Series 2025M

.050

10/01/45

1,917,823

TOTAL HOUSING/SINGLE FAMILY

21,754,208

INDUSTRIALS - 0.7%

500,000

New Jersey Economic Development Authority, Energy Facilities

Revenue Bonds, UMM Energy Partners, LLC Project, Series

2012A, (AMT)

.000

06/15/37

500,126

1,000,000

New Jersey Economic Development Authority, Energy Facilities

Revenue Bonds, UMM Energy Partners, LLC Project, Series

2012A, (AMT)

.125

06/15/43

999,957

1,000,000

(a) New Jersey Economic Development Authority, New Jersey, Dock

and Wharf Facility Revenue Bonds, Repauno Port & Rail Terminal

Project, Series 2025, (AMT)

.625

01/01/45

1,038,748

TOTAL INDUSTRIALS

2,538,831

LONG-TERM CARE - 0.6%

530,000

New Jersey Economic Development Authority, Fixed Rate

Revenue Bonds, Lions Gate Project, Series 2014

.250

01/01/44

501,289

2,133,201

(a) New Jersey Economic Development Authority, Revenue Bonds,

White Horse HMT Urban Renewal LLC Project, Series 2020

.000

01/01/40

1,511,497

480,000

(a) New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Village Drive Healthcare Urban Renewal LLC, Series 2018

.750

10/01/38

352,330

TOTAL LONG-TERM CARE

2,365,116

TAX OBLIGATION/GENERAL - 21.7%

3,995,000

Bridgewater & Raritan School District, Somerset County, New

Jersey, General Obligation Bonds, Series 2024

.000

07/15/45

3,932,649

790,000

Cumberland County Improvement Authority, New Jersey,

General Obligation Lease Revenue Bonds, Vineland Public Safety

Building Project, Series 2017

.250

12/15/37

776,173

585,000

Cumberland County, New Jersey, General Obligation Bonds,

General Improvement Series 2024

.000

08/15/26

580,241

1,000,000

Cumberland County, New Jersey, General Obligation Bonds,

Series 2021

.000

05/15/29

946,409

400,000

Essex County Improvement Authority, New Jersey, Lease

Revenue Bonds, Essex County Family Court Building Projects,

County Guaranteed Series 2025

.000

03/17/26

402,803

6,000,000

Essex County, New Jersey, General Obligation Bonds, Bond

Anticipation Notes, Series 2025

.000

07/08/26

6,049,922

15,000

Flemington-Raritan Regional School District, Hunterdon County,

New Jersey, General Obligation Bonds, Series 2019

.375

09/01/34

13,356

3,000,000

Freehold Township Board of Education, Monmouth County, New

Jersey, General Obligation Bonds, School Series 2025

.000

08/15/41

3,063,878

600,000

Gloucester County Improvement Authority, New Jersey, General

Obligation Loan Revenue Bonds, Health Sciences Educational

Facilities Projects Series 2024

.000

03/01/26

603,700

1,065,000

Gloucester Township, New Jersey, General Obligation Bonds,

Series 2019 - BAM Insured

.000

02/01/28

1,030,336

1,000,000

Gloucester Township, New Jersey, General Obligation Bonds,

Series 2019 - BAM Insured

.250

02/01/29

963,451

1,040,000

Harrison, New Jersey, General Obligation Bonds, Parking Utility

Series 2018 - BAM Insured

.375

03/01/34

1,045,778

1,075,000

Holmdel Township, Monmouth, New Jersey, General Obligation

Bonds, Series 2021

.000

11/15/34

935,716

1,000,000

Hudson County Improvement Authority, New Jersey, County

Secured Lease Revenue Bonds, Hudson County Courthouse

Project, Series 2020

.000

10/01/51

929,450

5,490,000

Hudson County Improvement Authority, New Jersey, County

Secured Lease Revenue Bonds, Hudson County Vocational

Technical Schools Project, Series 2016

.000

05/01/46

5,508,238

1,500,000

Hudson County, New Jersey, Bond Anticipation Notes, Series

2025

.000

02/26/26

1,504,768

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

1,000,000

Jersey City Board of Education, Hudson County, New Jersey,

General Obligation Bonds, School Energy Savings Refunding

Series 2023 - AGM Insured

.250

%

08/15/45

$

1,002,532

1,000,000

Jersey City, New Jersey, General Obligation Bonds, General

Improvement Series 2022A

.000

02/15/37

950,425

1,000,000

Madison Borough Board of Education, Morris County, New

Jersey, General Obligation Bonds, School Series 2024

.000

08/15/30

909,596

665,000

Manalapan-Englishtown Regional Board of Education, New

Jersey, General Obligation Bonds, School Series 2025

.000

07/15/43

668,441

1,730,000

Manalapan-Englishtown Regional Board of Education, New

Jersey, General Obligation Bonds, School Series 2025

.000

07/15/44

1,724,814

1,125,000

Monmouth County Improvement Authority, New Jersey,

Governmental Pooled Loan Revenue Bonds, Series 2022C

.000

08/15/40

1,246,198

575,000

Monmouth County Improvement Authority, New Jersey,

Governmental Pooled Loan Revenue Bonds, Series 2023

.000

12/01/36

664,172

500,000

Monmouth County Improvement Authority, New Jersey,

Governmental Pooled Loan Revenue Bonds, Series 2023

.000

12/01/41

556,084

1,120,000

Monmouth County Improvement Authority, New Jersey,

Governmental Pooled Loan Revenue Bonds, Series 2024A

.000

12/01/37

1,301,771

2,000,000

Montclair Township Board of Education, Essex County, New

Jersey, General Obligation Bonds, School Series 2025

.250

08/01/43

2,031,026

2,500,000

Montclair Township Board of Education, Essex County, New

Jersey, General Obligation Bonds, School Series 2025

.250

08/01/44

2,516,225

2,485,000

Montclair Township Board of Education, Essex County, New

Jersey, General Obligation Bonds, School Series 2025

.375

08/01/45

2,508,544

1,020,000

New Brunswick Parking Authority, Middlesex County, New Jersey,

Guaranteed Parking Revenue Bonds, Refunding Series 2016A -

BAM Insured

.000

09/01/32

1,036,329

810,000

New Jersey State, General Obligation Bonds, Covid-19

Emergency Series 2020A

.000

06/01/26

819,620

1,000,000

New Jersey State, General Obligation Bonds, Covid-19

Emergency Series 2020A

.000

06/01/27

1,035,693

1,320,000

New Jersey State, General Obligation Bonds, Covid-19

Emergency Series 2020A

.000

06/01/31

1,413,639

1,375,000

New Jersey State, General Obligation Bonds, Covid-19

Emergency Series 2020A

.000

06/01/32

1,390,628

1,000,000

New Jersey State, General Obligation Bonds, Various Purpose

Series 2020

.000

06/01/40

1,031,950

2,100,000

New Jersey State, General Obligation Bonds, Various Purpose

Series 2021 - BAM Insured

.000

06/01/36

1,748,702

605,000

Newark Board of Education, Essex County, New Jersey, General

Obligation Bonds, School Energy Savings Series 2021 - BAM

Insured

.000

07/15/36

627,359

500,000

Newark, Essex County, New Jersey, Mass Transit Access Tax

Revenue Bonds, Mulberry Pedestrian Bridge Redevelopment

Project, Series 2022 - AGM Insured

.375

11/15/52

540,464

600,000

Newark, Essex County, New Jersey, Mass Transit Access Tax

Revenue Bonds, Mulberry Pedestrian Bridge Redevelopment

Project, Series 2022 - AGM Insured

.000

11/15/62

670,324

510,000

Newark, New Jersey, General Obligation Bonds, Refunding

Qualified General Improvement Series 2025A

.000

07/15/26

516,329

1,500,000

Ocean City, New Jersey, General Obligation Bonds, General

Improvement Series 2019

.250

09/15/33

1,356,874

1,605,000

Parsippany-Troy Hills Township, New Jersey, General Obligation

Bonds, General Improvement Series 2025

.000

10/15/26

1,627,067

2,625,000

Passaic County, New Jersey, General Obligation Bonds, General

Improvement Series 2019A

.000

12/01/34

2,116,705

1,054,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.625

07/01/29

1,119,079

1,477,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

1,476,097

669,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/37

643,192

4,698,000

Rahway, New Jersey, General Obligation Bonds, Bond

Anticipation Note Series 2025

.000

07/22/26

4,740,366

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

#### New Jersey Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

1,145,000

Somers Point, New Jersey, General Obligation Bonds,

Improvement Sewer Utility Series 2019

.000

%

10/01/31

$

1,045,272

1,000,000

South Brunswick Township, Middlesex County, New Jersey,

General Obligation Bonds, BAN Series 2025A

.000

10/19/26

1,011,594

2,460,000

South Orange & Maplewood School District, Essex County, New

Jersey, General Obligation Bonds, Series 2021

.375

08/15/46

1,648,396

250,000

Toms River Board of Education, Ocean County, New Jersey,

General Obligation Bonds, Regional Schools Series 2019

.000

07/15/26

246,626

190,000

Toms River Board of Education, Ocean County, New Jersey,

General Obligation Bonds, Regional Schools Series 2019

.000

07/15/30

176,846

3,435,000

Union County Utilities Authority, New Jersey, Resource Recovery

Facility Lease Revenue Bonds, Covantan Union Inc. Lessee,

Refunding Series 2011B, (AMT)

.250

12/01/31

3,441,034

2,515,000

Union County Utilities Authority, New Jersey, Solid Waste System

County Deficiency Revenue Bonds, Series 2011A

.000

06/15/41

2,516,384

1,280,000

Verona Township Board of Education, Essex County, New Jersey,

General Obligation Bonds, Refunding Series 2020

.250

03/01/39

1,004,962

405,000

Vineland Board of Education, Cumberland County, New Jersey,

General Obligation Bonds, Energy Savings Refunding School

Series 2025 - BAM Insured

.000

07/01/39

458,431

2,000,000

Willingboro Township Board of Education, New Jersey, General

Obligation Bonds, School Series 2025

.250

08/15/44

2,016,856

1,085,000

Woodridge Boro, New Jersey, General Obligation Bonds,

General Improvement Series 2021

.000

09/01/32

976,132

TOTAL TAX OBLIGATION/GENERAL

82,819,646

TAX OBLIGATION/LIMITED - 20.0%

1,715,000

Bergen County Improvement Authority, New Jersey, County

Guaranteed Governmental Pooled Project Notes, Series 202

.000

10/14/26

1,735,588

3,500,000

Bergen County Improvement Authority, New Jersey, County

Guaranteed Governmental Pooled Project Notes, Series 2025A

.000

05/21/26

3,522,571

650,000

Bergen County Improvement Authority, New Jersey, Guaranteed

Lease Revenue Bonds, County Administration Complex Project,

Series 2005

.000

11/15/26

665,350

2,610,000

Burlington County Bridge Commission, New Jersey,

Governmental Leasing Program Revenue Bonds, Notes Series

2025C-2

.000

07/31/26

2,630,921

3,000,000

Burlington County Bridge Commission, New Jersey,

Governmental Leasing Program Revenue Bonds, Series 2024D

.250

12/11/25

3,001,052

450,000

Camden County Improvement Authority, New Jersey, County

Guaranteed Loan Revenue Bonds, Refunding Capital Program

Series 2024B

.000

01/15/29

483,812

1,000,000

Camden County Improvement Authority, New Jersey, County

Guaranteed Loan Revenue Bonds, Refunding Capital Program

Series 2024B

.000

01/15/30

1,098,382

795,000

Casino Reinvestement Development Authority, New Jersey,

Luxury Tax Revenue Bonds, Series 2024A

.000

11/01/41

859,910

600,000

Gloucester County Improvement Authority, New Jersey, Revenue

Bonds, County Guaranteed Loan Capital Program, Refunding

Series 2025

.000

04/01/29

649,632

650,000

Gloucester County Improvement Authority, New Jersey, Revenue

Bonds, County Guaranteed Loan Capital Program, Refunding

Series 2025

.000

04/01/31

733,010

250,000

Gloucester County Improvement Authority, New Jersey, Revenue

Bonds, County Guaranteed Loan Capital Program, Refunding

Series 2025

.000

04/01/32

286,923

350,000

Gloucester County Improvement Authority, New Jersey, Revenue

Bonds, County Guaranteed Loan Capital Program, Refunding

Series 2025

.000

04/01/33

407,324

1,135,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.000

01/01/33

1,259,150

500,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.000

01/01/34

558,525

500,000

Government of Guam, Business Privilege Tax Bonds, Refunding

Series 2025G

.000

01/01/35

562,072

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

1,065,000

Middlesex County Improvement Authority, New Jersey, County

Guaranteed Lease Revenue Bonds, Middlesex Regional

Educational Services Commission Projects, Refunding Series

2024

.000

%

10/15/33

$

1,248,289

2,940,000

Middlesex County Improvement Authority, New Jersey, General

Obligation Lease Revenue Bonds, New Jersey Health + Life

Science Exchange - H-1 Project Series 2023A

.000

08/15/49

3,123,422

1,000,000

Middlesex County Improvement Authority, New Jersey, General

Obligation Lease Revenue Bonds, New Jersey Health + Life

Science Exchange - H-1 Project Series 2023A

.000

08/15/53

961,210

3,600,000

New Jersey Economic Development Authority, New Jersey,

Transit Transportation Project Revenue Bonds, Portal North

Bridge Project Series 2022A

.250

11/01/47

3,792,197

3,775,000

New Jersey Economic Development Authority, New Jersey,

Transit Transportation Project Revenue Bonds, Portal North

Bridge Project Series 2022A

.000

11/01/52

3,888,748

3,220,000

New Jersey Economic Development Authority, Revenue Bonds,

Motor Vehicle Surcharge, Refunding Subordinate Series 2017A

.375

07/01/30

3,180,537

221,788

New Jersey Economic Development Authority, Revenue

Refunding Bonds, Kapkowski Road Landfill Project, Series 2002

.500

04/01/28

228,899

255,000

New Jersey Transportation Trust Fund Authority, Federal Highway

Reimbursement Revenue Notes, Series 2016A-1

.000

06/15/29

257,725

175,000

New Jersey Transportation Trust Fund Authority, Federal Highway

Reimbursement Revenue Notes, Series 2016A-1

.000

06/15/30

176,840

3,845,000

New Jersey Transportation Trust Fund Authority, Federal Highway

Reimbursement Revenue Notes, Series 2018A

.000

06/15/31

3,884,101

505,000

New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2019AA

.000

06/15/46

514,430

1,000,000

New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2022CC

.250

06/15/41

1,090,322

1,500,000

New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2023AA

.250

06/15/44

1,465,924

14,250,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Capital Appreciation Series 2010A

.000

12/15/30

12,226,835

5,300,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Refunding Series 2006C - AGM Insured

.000

12/15/32

4,269,789

4,620,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Refunding Series 2006C - AGM Insured

.000

12/15/33

3,581,344

1,045,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Refunding Series 2006C - AGM Insured

.000

12/15/34

778,413

2,360,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019BB

.500

06/15/46

1,993,122

680,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2019BB

.000

06/15/50

626,594

1,560,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2024AA

.000

06/15/42

1,512,159

1,080,000

New Jersey Transportation Trust Fund Authority, Transportation

System Bonds, Series 2024CC

.125

06/15/55

1,006,431

705,000

Passaic County Improvement Authority, New Jersey, Guaranteed

Revenue Bonds, Senior Housing Project Series 2024

.000

11/01/51

680,845

1,110,000

Passaic County Improvement Authority, New Jersey, Lease

Revenue Bonds, Preakness Healthcare Center Expansion Project,

Refunding Series 2015

.750

05/01/36

1,110,296

1,115,000

Passaic County Improvement Authority, New Jersey, Lease

Revenue Bonds, Preakness Healthcare Center Expansion Project,

Series 2012

.500

05/01/35

1,115,177

1,920,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/58

1,871,934

1,756,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Taxable Restructured Cofina Project Series 2019A-2

.329

07/01/40

1,712,770

1,725,000

Union County Improvement Authority, New Jersey, Lease

Revenue Bonds, Plainfield - Park Madison Redevelopment

Project, Refunding Series 2013A

.000

03/01/34

1,901,919

TOTAL TAX OBLIGATION/LIMITED

76,654,494

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

#### New Jersey Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION - 10.4%

$

1,000,000

Delaware River and Bay Authority, Delaware and New Jersey,

Revenue Bonds, Refunding Series 2024B

.000

%

01/01/41

$

1,117,501

1,000,000

Delaware River and Bay Authority, Delaware and New Jersey,

Revenue Bonds, Series 2019

.000

01/01/44

989,559

1,090,000

Delaware River Joint Toll Bridge Commission, New Jersey and

Pennsylvania, Bridge System Revenue Bonds, Refunding Series

2015 - BAM Insured

.000

07/01/35

1,090,544

1,500,000

Delaware River Joint Toll Bridge Commission, New Jersey and

Pennsylvania, Bridge System Revenue Bonds, Series 2017

.000

07/01/42

1,531,313

2,000,000

Delaware River Joint Toll Bridge Commission, New Jersey and

Pennsylvania, Bridge System Revenue Bonds, Series 2017

.000

07/01/47

2,023,397

1,000,000

Delaware River Joint Toll Bridge Commission, New Jersey and

Pennsylvania, Bridge System Revenue Bonds, Series 2019A

.000

07/01/49

748,830

1,860,000

Delaware River Port Authority, New Jersey and Pennsylvania,

Revenue Bonds, Refunding Series 2025

.000

01/01/37

2,144,153

1,705,000

New Jersey Economic Development Authority, Private Activity

Bonds, The Goethals Bridge Replacement Project, Series 2013 -

AGM Insured, (AMT)

.000

01/01/31

1,708,235

1,645,000

New Jersey Economic Development Authority, Private Activity

Bonds, The Goethals Bridge Replacement Project, Series 2013,

(AMT)

.625

01/01/52

1,646,338

1,245,000

New Jersey Economic Development Authority, Special Facilities

Revenue Bonds, Continental Airlines Inc., Series 1999, (AMT)

.250

09/15/29

1,246,625

380,000

New Jersey Economic Development Authority, Special Facilities

Revenue Bonds, Continental Airlines Inc., Series 2000A & 2000B,

(AMT)

.625

11/15/30

380,659

1,000,000

New Jersey Economic Development Authority, Special Facility

Revenue Bonds, Port Newark Container Terminal LLC Project,

Refunding Series 2017, (AMT)

.000

10/01/37

1,015,075

2,000,000

New Jersey Economic Development Authority, Special Facility

Revenue Bonds, Port Newark Container Terminal LLC Project,

Refunding Series 2017, (AMT)

.000

10/01/47

2,000,940

1,315,000

New Jersey Turnpike Authority, Revenue Bonds, Series 2005A -

AGM Insured

.250

01/01/29

1,420,285

775,000

New Jersey Turnpike Authority, Turnpike Revenue Bonds, Series

2022A

.000

01/01/42

775,917

2,010,000

New Jersey Turnpike Authority, Turnpike Revenue Bonds, Series

2022A

.000

01/01/43

1,989,177

1,000,000

New Jersey Turnpike Authority, Turnpike Revenue Bonds, Series

2022B

.000

01/01/46

1,053,512

1,030,000

New Jersey Turnpike Authority, Turnpike Revenue Bonds, Series

2022B

.500

01/01/48

1,048,980

2,250,000

New Jersey Turnpike Authority, Turnpike Revenue Bonds, Series

2022B

.250

01/01/52

2,389,106

925,000

New Jersey Turnpike Authority, Turnpike Revenue Bonds, Series

2025A

.250

01/01/55

998,731

1,000,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Fiftieth Series 2025

.000

10/15/36

1,181,337

2,950,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Forty Second Series 2023, (AMT)

.000

12/01/53

3,002,767

1,200,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Forty-Fifth Series 2024

.000

09/01/54

1,265,417

1,000,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Second Series 2017, (AMT)

.000

10/15/33

1,022,983

1,000,000

South Jersey Transportation Authority, New Jersey,

Transportation System Revenue Bonds, Refunding Series 2019A

- AGM Insured

.000

11/01/33

1,079,725

2,330,000

South Jersey Transportation Authority, New Jersey,

Transportation System Revenue Bonds, Series 2022A

.625

11/01/47

2,340,556

650,000

South Jersey Transportation Authority, New Jersey,

Transportation System Revenue Bonds, Series 2022A - BAM

Insured

.250

11/01/52

681,518

1,000,000

South Jersey Transportation Authority, New Jersey,

Transportation System Revenue Bonds, Series 2025A - BAM

Insured

.000

11/01/38

1,031,539

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

1,000,000

South Jersey Transportation Authority, New Jersey,

Transportation System Revenue Bonds, Series 2025A - BAM

Insured

.000

%

11/01/39

$

1,022,231

TOTAL TRANSPORTATION

39,946,950

U.S. GUARANTEED - 0.2% (c)

145,000

New Jersey Health Care Facilities Financing Authority, Revenue

Bonds, Kennedy Health System Obligated Group Issue,

Refunding Series 2012, (ETM)

.750

07/01/27

146,161

600,000

New Jersey Transportation Trust Fund Authority, Transportation

Program Bonds, Series 2022CC, (Pre-refunded 12/15/32)

.250

06/15/46

703,723

TOTAL U.S. GUARANTEED

849,884

UTILITIES - 8.0%

500,000

Guam Government Waterworks Authority, Water and Wastewater

System Revenue Bonds, Series 2025A

.500

07/01/43

540,703

1,975,000

New Jersey Economic Development Authority, Natural Gas

Facilities Revenue Bonds, New Jersey Natural Gas Company

Project, Refunding Series 2011A

.750

08/01/39

1,625,338

530,000

New Jersey Economic Development Authority, Natural Gas

Facilities Revenue Bonds, New Jersey Natural Gas Company

Project, Refunding Series 2011C, (AMT)

.000

08/01/41

445,590

2,575,000

New Jersey Economic Development Authority, Water Facilities

Revenue Bonds, Middlesex Water Company, Series 2019, (AMT)

.000

08/01/59

2,260,564

5,000,000

(b) New Jersey Economic Development Authority, Water Facilities

Revenue Bonds, New Jersey-American Water Company Inc.

Project, Refunding Series 2019A, (AMT), (Mandatory Put

12/03/29)

.200

10/01/39

4,718,115

565,000

(b) New Jersey Economic Development Authority, Water Facilities

Revenue Bonds, New Jersey-American Water Company Inc.

Project, Refunding Series 2020B, (AMT), (Mandatory Put 6/01/28)

.750

11/01/34

571,929

500,000

New Jersey Environmental Infrastructure Trust, Environmental

Infrastructure Bonds, Green Series 2025A-SW1

.000

09/01/34

594,413

6,295,000

New Jersey Infrastructure Bank, Environmental Infrastructure

Bonds, Green Series 2022A-2

.000

09/01/47

6,672,966

2,000,000

New Jersey Infrastructure Bank, Environmental Infrastructure

Bonds, Green Series 2022A-2

.000

09/01/52

2,107,872

1,500,000

New Jersey Infrastructure Bank, Environmental Infrastructure

Bonds, Green Series 2023A-W1

.000

09/01/30

1,668,549

500,000

New Jersey Infrastructure Bank, Environmental Infrastructure

Bonds, Green Series 2023A-W1

.000

09/01/34

589,265

500,000

North Hudson Sewerage Authority, New Jersey, Gross Revenue

Lease Certificates, Senior Lien Series 2023 - BAM Insured

.000

06/01/38

565,874

750,000

North Hudson Sewerage Authority, New Jersey, Gross Revenue

Lease Certificates, Senior Lien Series 2023 - BAM Insured

.000

06/01/39

844,366

375,000

North Hudson Sewerage Authority, New Jersey, Gross Revenue

Lease Certificates, Senior Lien Series 2023 - BAM Insured

.000

06/01/44

403,075

695,000

Passaic County Utilities Authority, New Jersey, Solid Waste

Disposal Revenue Bonds, Refunding Series 2018

.000

03/01/37

784,231

1,425,000

Passaic Valley Water Commission, New Jersey, Water System

Revenue Bonds, Series 2023 - AGM Insured

.000

12/01/53

1,378,594

5,000,000

Salem County Pollution Control Financing Authority, New

Jersey, Revenue Bonds, Atlantic City Electric Company Project,

Refunding Series 2020

.250

06/01/29

4,738,263

TOTAL UTILITIES

30,509,707

TOTAL MUNICIPAL BONDS

(Cost $374,484,683)

368,077,835

TOTAL LONG-TERM INVESTMENTS

(Cost $374,484,683)

368,077,835

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

#### New Jersey Municipal Bond

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

SHORT-TERM INVESTMENTS - 0.9%

X

3,635,000

MUNICIPAL BONDS - 0.9%

X

–

HOUSING/MULTIFAMILY - 0.9%

$

3,635,000

(d) New Jersey Housing and Mortgage Finance Agency, Multifamily

Housing Revenue Bonds, Meadow Brook Apartments Project,

Series 2006A, (AMT)

.900

%

03/15/40

$

3,635,000

TOTAL HOUSING/MULTIFAMILY

3,635,000

TOTAL SHORT-TERM INVESTMENTS

(Cost $3,635,000)

3,635,000

TOTAL INVESTMENTS - 97.2%

(Cost $378,119,683)

371,712,835

OTHER ASSETS & LIABILITIES, NET - 2.8%

10,600,243

NET ASSETS - 100%

$

382,313,078

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 fiscal period, the aggregate value of these securities is $2,998,879 or 0.8% of Total Investments.

(b) Floating or variable rate security includes the reference rate and spread, when applicable. For mortgage-backed or asset-backed

securities the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.

(c) 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) 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.

New Jersey

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

368,077,835

$

–

$

368,077,835

Short-Term Investments:

Municipal Bonds

–

3,635,000

–

3,635,000

Total

$

–

$

371,712,835

$

–

$

371,712,835

#### Portfolio of Investments November 30, 2025

#### New York Municipal Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM INVESTMENTS - 99.7%

X

981,107,066

MUNICIPAL BONDS - 99.7%

X

–

CONSUMER STAPLES - 3.6%

$

15,110,000

Erie County Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Series 2005A

.000

%

06/01/38

$

13,969,740

76,105,000

(a) Erie County Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Series 2005C

.000

06/01/50

9,587,891

755,000

New York Counties Tobacco Trust VI, New York, Tobacco

Settlement Pass-Through Bonds, Series Series 2016A-1

.625

06/01/35

767,300

6,885,000

New York Counties Tobacco Trust VI, New York, Tobacco

Settlement Pass-Through Bonds, Series Series 2016A-1

.750

06/01/43

6,700,076

1,330,000

New York Counties Tobacco Trust VI, New York, Tobacco

Settlement Pass-Through Bonds, Turbo Term Series 2016A.

Including 2016A-1, 2016A-2A and 2016A-2B

.000

06/01/45

1,168,647

10,000,000

Suffolk Tobacco Asset Securitization Corporation, New York,

Tobacco Settlement Asset-Backed Bonds, Series 2021B-2

.000

06/01/66

902,410

3,000,000

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

.000

06/01/48

2,643,319

TOTAL CONSUMER STAPLES

35,739,383

EDUCATION AND CIVIC ORGANIZATIONS - 8.4%

1,865,000

Buffalo and Erie County Industrial Land Development

Corporation, New York, Revenue Bonds, Enterprise Charter

School Project, Series 2011A

.500

12/01/40

1,864,913

1,360,000

Build New York City Resource Corporation, New York, Revenue

Bonds, Classical Charter Schools Series 2023A

.500

06/15/43

1,263,965

550,000

Build New York City Resource Corporation, New York, Revenue

Bonds, Global Community Charter School Project, Series 2022A

.000

06/15/52

465,552

3,360,000

Build New York City Resource Corporation, New York, Revenue

Bonds, KIPP New York City Public School Facilities, Canal West

Project, Series 2022

.250

07/01/52

3,395,357

2,240,000

(b) Build New York City Resource Corporation, New York, Revenue

Bonds, Metropolitan College of New York, Series 2014

.000

11/01/39

1,568,000

2,200,000

(b) Build New York City Resource Corporation, New York, Revenue

Bonds, Metropolitan College of New York, Series 2014

.500

11/01/44

1,540,000

1,265,000

Build New York City Resource Corporation, New York, Revenue

Bonds, New World Preparatory Charter School Project, Series

2021A

.000

06/15/41

1,105,194

1,440,000

(a) Build NYC Resource Corporation Revenue Bonds, New York, East

Harlem Scholars Academy Charter School Project, Series 2022

(Social Bonds)

.750

06/01/62

1,403,732

2,395,000

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

Family Life Academy Charter School, Series 2020C-1

.000

06/01/55

1,951,631

580,000

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

Richmond Preparatory Charter School Project, Social Impact

Project Series 2021A

.000

06/01/41

518,875

2,620,000

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

Richmond Preparatory Charter School Project, Social Impact

Project Series 2021A

.000

06/01/56

2,069,877

2,965,000

(a) Dormitory Authority of the State of New York, General Revenue

Bonds, American Musical and Dramatic Academy Inc., Series

2023A

.250

07/01/53

3,027,868

4,000,000

Dormitory Authority of the State of New York, General Revenue

Bonds, Barnard College, Taxable Series 2025A

.000

07/01/55

4,089,996

3,835,000

Dormitory Authority of the State of New York, General Revenue

Bonds, Yeshiva University, Series 2022A

.000

07/15/42

3,887,958

3,015,000

Dormitory Authority of the State of New York, General Revenue

Bonds, Yeshiva University, Series 2022A

.000

07/15/50

2,964,848

1,670,000

Dormitory Authority of the State of New York, Housing Revenue

Bonds, Fashion Institute of Technology, Series 2007 - FGIC

Insured

.250

07/01/29

1,720,411

735,000

Dormitory Authority of the State of New York, Housing Revenue

Bonds, Fashion Institute of Technology, Series 2007 - FGIC

Insured

.250

07/01/34

792,522

9,000,000

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

Fordham University, Series 2020

.000

07/01/46

8,380,669

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

#### New York Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION AND CIVIC ORGANIZATIONS

(continued)

$

1,055,000

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

New York University, Series 2001-1 - AMBAC Insured

.500

%

07/01/40

$

1,242,555

1,950,000

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

Pace University, Series 2024A

.500

05/01/56

2,010,928

3,250,000

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

Rockefeller University, Green Series 2019B

.000

07/01/50

3,316,521

1,000,000

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

Rockefeller University, Series 2020A

.000

07/01/53

1,023,584

8,665,000

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

Rockefeller University, Series 2022A

.000

07/01/42

8,690,910

3,450,000

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

Vaughn College of Aeronautics & Technology, Series 2016A

.500

12/01/36

3,277,659

6,675,000

Glen Cove Local Economic Assistance Corporation, New York,

Revenue Bonds, Garvies Point Public Improvement Project,

Capital Appreciation Series 2016B

.000

01/01/45

1,939,724

3,040,000

Glen Cove Local Economic Assistance Corporation, New York,

Revenue Bonds, Garvies Point Public Improvement Project,

Capital Appreciation Series 2016C

.625

01/01/55

2,771,458

200,000

Hempstead Town Local Development Corporation, New York,

Education Revenue Bonds, Evergreen Charter School Project,

Series 2022A

.500

06/15/57

200,221

7,835,000

Monroe County Industrial Development Corporation, New York,

Revenue Bonds, University of Rochester Project, Series 2020A

.000

07/01/50

7,162,127

5,750,000

Monroe County Industrial Development Corporation, New York,

Revenue Bonds, University of Rochester Project, Series 2023A

.000

07/01/53

5,968,347

300,000

(a) Monroe County Industrial Development Corporation, New York,

Revenue Bonds, Academy of Health Sciences Charter School

Project, Social Impact Series 2022

.875

07/01/52

297,188

850,000

Monroe County Industrial Development Corporation, New York,

Revenue Bonds, St. John Fisher University Project, Series 2024

.250

06/01/54

893,754

1,285,000

Troy Capital Resource Corporation, New York, Revenue Bonds,

Rensselaer Polytechnic Institute, Refunding Series 2020A.

Forward Delivery

.000

09/01/40

1,276,241

160,000

Yonkers Economic Development Corporation, New York,

Educational Revenue Bonds, Lamartine/Warburton LLC-Charter

School of Educational Excellence Project, Series 2019A

.000

10/15/29

159,305

205,000

Yonkers Economic Development Corporation, New York,

Educational Revenue Bonds, Lamartine/Warburton LLC-Charter

School of Educational Excellence Project, Series 2019A

.000

10/15/39

206,059

TOTAL EDUCATION AND CIVIC ORGANIZATIONS

82,447,949

FINANCIALS - 1.1%

5,710,000

Liberty Development Corporation, New York, Goldman Sachs

Headquarter Revenue Bonds, Series 2005

.250

10/01/35

6,701,577

3,475,000

Liberty Development Corporation, New York, Goldman Sachs

Headquarters Revenue Bonds Series 2007

.500

10/01/37

4,178,641

TOTAL FINANCIALS

10,880,218

HEALTH CARE - 18.0%

6,735,000

Albany Capital Resource Corporation, New York, Revenue Bonds,

Albany Medical Center Hospital Series 2025A

.500

05/01/55

7,261,325

15,600,000

Dormitory Authority of the State of New York, General Revenue

Bonds, Northwell Health Obligated Group, Series 2022A

.000

05/01/45

14,583,844

18,290,000

Dormitory Authority of the State of New York, General Revenue

Bonds, Northwell Health Obligated Group, Series 2022A

.250

05/01/52

17,173,993

9,255,000

Dormitory Authority of the State of New York, General Revenue

Bonds, Northwell Health Obligated Group, Series 2022A

.000

05/01/52

9,333,700

11,965,000

Dormitory Authority of the State of New York, General Revenue

Bonds, Northwell Health Obligated Group, Series 2024A

.250

05/01/54

12,482,505

3,600,000

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

Montefiore Obligated Group, Series 2018A

.000

08/01/35

3,672,512

1,200,000

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

Montefiore Obligated Group, Series 2020A

.000

09/01/30

1,279,872

2,680,000

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

Montefiore Obligated Group, Series 2020A

.000

09/01/34

2,829,154

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH CARE

(continued)

$

2,620,000

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

Montefiore Obligated Group, Series 2020A

.000

%

09/01/35

$

2,761,066

5,000,000

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

Montefiore Obligated Group, Series 2020A

.000

09/01/50

4,256,859

15,420,000

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

Mount Sinai Health Obligated Group, Series 2025

.250

07/01/50

15,558,945

14,435,000

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

NYU Langone Hospitals Obligated Group, Series 2020A

.000

07/01/53

12,933,054

500,000

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

Orange Regional Medical Center Obligated Group, Series 2015

.000

12/01/25

500,000

450,000

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

Orange Regional Medical Center Obligated Group, Series 2015

.000

12/01/29

450,136

1,100,000

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

Orange Regional Medical Center Obligated Group, Series 2015

.000

12/01/32

1,100,241

1,100,000

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

Orange Regional Medical Center Obligated Group, Series 2015

.000

12/01/33

1,100,179

1,000,000

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

Orange Regional Medical Center Obligated Group, Series 2015

.000

12/01/35

1,000,047

1,300,000

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

Orange Regional Medical Center Obligated Group, Series 2015

.000

12/01/40

1,238,424

2,000,000

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

Orange Regional Medical Center Obligated Group, Series 2017

.000

12/01/26

2,010,231

1,200,000

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

Orange Regional Medical Center Obligated Group, Series 2017

.000

12/01/27

1,212,816

4,250,000

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

Orange Regional Medical Center Obligated Group, Series 2017

.000

12/01/36

4,207,181

1,000,000

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

Orange Regional Medical Center Obligated Group, Series 2017

.000

12/01/37

972,319

2,750,000

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

Roswell Park Cancer Institute Obligated Group, Series 2025A

.500

07/01/55

2,978,737

400,000

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

White Plains Hospital, Series 2024

.250

10/01/49

407,739

6,280,000

Dutchess County Local Development Corporation, New York,

Revenue Bonds, Health Quest Systems, Inc. Project, Series 2016B

.000

07/01/35

6,333,279

2,385,000

Dutchess County Local Development Corporation, New York,

Revenue Bonds, Health Quest Systems, Inc. Project, Series 2016B

.000

07/01/41

2,284,295

11,000,000

Dutchess County Local Development Corporation, New York,

Revenue Bonds, Health Quest Systems, Inc. Project, Series 2016B

.000

07/01/46

10,931,049

1,000,000

Dutchess County Local Development Corporation, New York,

Revenue Bonds, Nuvance Health Issue, Series 2019B

.000

07/01/26

1,009,486

2,380,000

(c) Genesee County Funding Corporation, New York, Revenue

Bonds, Rochester Regional Health Project, Series 2025A

.250

12/01/50

2,451,064

2,605,000

(c) Genesee County Funding Corporation, New York, Revenue

Bonds, Rochester Regional Health Project, Series 2025A

.500

12/01/55

2,729,641

1,395,000

Monroe County Industrial Development Corporation, New York,

Revenue Bonds, Rochester General Hospital Project, Series

2013A

.000

12/01/42

1,395,235

6,605,000

Monroe County Industrial Development Corporation, New York,

Revenue Bonds, Rochester General Hospital Project, Series 2017

.000

12/01/46

6,588,843

4,600,000

Monroe County Industrial Development Corporation, New York,

Revenue Bonds, Rochester Regional Health Project, Series 2020A

.000

12/01/46

4,033,902

375,000

Monroe County Industrial Development Corporation, New York,

Tax-Exempt Revenue Bonds, Highland Hospital of Rochester

Project, Series 2015

.000

07/01/34

375,510

19,010,000

Westchester County Local Development Corporation, New York,

Revenue Bonds, Westchester Medical Center Obligated Group

Project, Refunding Series 2016

.000

11/01/46

17,594,059

380,000

Westchester County Local Development Corporation, New York,

Revenue Bonds, Westchester Medical Center Obligated Group

Project, Series 2023

.250

11/01/52

384,243

TOTAL HEALTH CARE

177,415,485

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

#### New York Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY - 0.9%

$

4,000,000

New York City Housing Development Corporation, New

York, Multifamily Housing Revenue Bonds, Green Sustainable

Development Series 2024F-1-A

.550

%

11/01/54

$

3,918,452

3,450,000

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

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

Series 2024

.250

12/15/31

3,554,297

1,185,000

New York State Housing Finance Agency, Multifamily Housing

Revenue Bonds, Cannon Street Senior Housing Project, Series

2007A, (AMT)

.300

02/15/39

1,185,703

TOTAL HOUSING/MULTIFAMILY

8,658,452

INDUSTRIALS - 4.7%

17,020,000

(a) New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 3 World Trade Center Project, Class 1 Series

2014

.000

11/15/44

17,020,063

7,550,000

(a) New York Liberty Development Corporation, New York, Liberty

Revenue Bonds, 3 World Trade Center Project, Class 2 Series

2014

.150

11/15/34

7,557,233

1,915,000

New York Transportation Development Corporation, New York,

Facility Revenue Bonds, Thruway Service Areas Project, Series

2021, (AMT)

.000

10/31/41

1,828,714

3,720,000

New York Transportation Development Corporation, New York,

Facility Revenue Bonds, Thruway Service Areas Project, Series

2021, (AMT)

.000

10/31/46

3,343,891

18,765,000

New York Transportation Development Corporation, New York,

Facility Revenue Bonds, Thruway Service Areas Project, Series

2021, (AMT)

.000

04/30/53

16,158,823

TOTAL INDUSTRIALS

45,908,724

LONG-TERM CARE - 0.2%

535,000

Dormitory Authority of the State of New York, Non-State

Supported Debt, Ozanam Hall of Queens Nursing Home

Revenue Bonds, Series 2006

.000

11/01/31

542,433

550,000

Monroe County Industrial Development Corporation, New York,

Revenue Bonds, Saint Anns Community Project, Series 2019

.000

01/01/40

539,402

265,000

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

Facility Revenue Bonds, Special Needs Facilities Pooled Program,

Series 2008A-1

.100

07/01/28

264,999

210,000

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

Facility Revenue Bonds, Special Needs Facilities Pooled Program,

Series 2008A-1

.200

07/01/33

209,836

TOTAL LONG-TERM CARE

1,556,670

MATERIALS - 0.2%

2,060,000

(a) Build New York City Resource Corporation, New York, Solid

Waste Disposal Revenue Bonds, Pratt Paper NY, Inc. Project,

Series 2014, (AMT)

.000

01/01/35

2,061,804

TOTAL MATERIALS

2,061,804

TAX OBLIGATION/GENERAL - 6.4%

5,165,000

Nassau County, New York, General Obligation Bonds, General

Improvement Series 2023A

.000

04/01/53

4,769,225

7,210,000

New York City, New York, General Obligation Bonds, Fiscal 2018

Series E-1

.000

03/01/39

7,424,608

6,050,000

New York City, New York, General Obligation Bonds, Fiscal 2018

Series E-1

.000

03/01/40

6,205,218

3,875,000

New York City, New York, General Obligation Bonds, Fiscal 2018

Series F-1

.000

04/01/45

3,936,643

5,450,000

New York City, New York, General Obligation Bonds, Fiscal 2022

Series A-1

.000

08/01/47

5,586,118

5,790,000

New York City, New York, General Obligation Bonds, Fiscal 2023

Series B-1

.250

10/01/47

6,075,784

3,750,000

New York City, New York, General Obligation Bonds, Fiscal 2026

Series A-1

.250

08/01/53

3,955,633

12,000,000

New York City, New York, General Obligation Bonds, Fiscal 2026

Series D

.250

10/01/51

12,660,001

10,000,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

07/01/33

9,993,888

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/GENERAL

(continued)

$

2,770,000

Puerto Rico, General Obligation Bonds, Restructured Series

2022A-1

.000

%

07/01/41

$

2,561,426

TOTAL TAX OBLIGATION/GENERAL

63,168,544

TAX OBLIGATION/LIMITED - 21.3%

3,035,000

Battery Park City Authority, New York, Revenue Bonds, Senior

Sustainability Series 2023A

.000

11/01/53

3,201,561

1,585,000

Dormitory Authority of the State of New York, Residential

Insitutions for Children Revenue Bonds, Series 2008-A1

.000

06/01/33

1,588,084

1,985,000

Dormitory Authority of the State of New York, Residential

Insitutions for Children Revenue Bonds, Series 2008-A1

.000

06/01/38

1,987,918

20,000

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

School Districts Financing Program, Series 2009C - AGC Insured

.125

10/01/36

20,032

3,000,000

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

School Districts Financing Program, Series 2025A

.000

10/01/38

3,417,905

2,040,000

Dormitory Authority of the State of New York, State Personal

Income Tax Revenue Bonds, General Purpose, Series 2021A

.000

03/15/49

2,094,355

17,140,000

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

Revenue Bonds, Series 2017A Group C

.000

03/15/41

17,444,847

10,000,000

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

Revenue Bonds, Series 2018A

.000

03/15/42

10,281,518

2,170,000

Hudson Yards Infrastructure Corporation, New York, Revenue

Bonds, Green Fiscal 2022 Series A

.000

02/15/36

2,260,068

5,710,000

Hudson Yards Infrastructure Corporation, New York, Revenue

Bonds, Second Indenture Fiscal 2017 Series A

.000

02/15/39

5,829,998

3,955,000

Hudson Yards Infrastructure Corporation, New York, Revenue

Bonds, Second Indenture Fiscal 2017 Series A

.000

02/15/42

4,013,761

1,045,000

Hudson Yards Infrastructure Corporation, New York, Revenue

Bonds, Second Indenture Fiscal 2017 Series A

.000

02/15/45

1,057,318

2,935,000

Metropolitan Transportation Authority, New York, Dedicated Tax

Fund Bonds, Green Series 2024A

.000

11/15/51

2,746,062

5,450,000

Metropolitan Transportation Authority, New York, Dedicated Tax

Fund Bonds, Series 2022A

.000

11/15/46

5,660,160

4,000,000

Monroe County Industrial Development Agency, New York,

School Facility Revenue Bonds, Rochester Schools Modernization

Project, Series 2013

.000

05/01/28

4,006,419

9,335,000

New York City Transitional Finance Authority, New York, Building

Aid Revenue Bonds, Fiscal 2020 Subseries S-1B

.000

07/15/43

9,085,352

5,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2017 Series A-1

.000

05/01/40

5,010,840

5,000,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2017 Series B-1

.000

08/01/36

5,045,740

5,375,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2017 Series E-1

.000

02/01/43

5,436,717

4,020,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2020 Subseries B-1

.000

11/01/47

3,752,848

5,835,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal 2026 Subseries Series A-1

.250

05/01/52

6,191,709

3,670,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Fiscal Series 2025H-1

.250

11/01/48

3,919,790

10,675,000

New York City Transitional Finance Authority, New York, Future

Tax Secured Bonds, Subordinate Series 2024B

.375

05/01/53

10,417,849

5,000,000

New York City, New York, Educational Construction Fund

Revenue Bonds, Series 2021B

.000

04/01/52

5,180,355

9,585,000

New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Bidding Group 1 Series 2022A

.000

03/15/45

10,081,422

15,000,000

New York State Thruway Authority, State Personal Income Tax

Revenue Bonds, Climate Certified Green Series 2022C

.125

03/15/57

13,966,442

7,000,000

New York State Urban Development Corporation, State Personal

Income Tax Revenue Bonds, General Purpose, Series 2020C

.000

03/15/47

7,224,086

3,800,000

New York State Urban Development Corporation, State Personal

Income Tax Revenue Bonds, General Purpose, Series 2020C

.000

03/15/49

3,509,172

500,000

Oneida Indian Nation, New York, Tax Revenue Bonds, Series

2024B

.000

09/01/43

539,233

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

#### New York Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX OBLIGATION/LIMITED

(continued)

$

12,393,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

%

07/01/46

$

4,225,984

25,386,000

Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue

Bonds, Restructured 2018A-1

.000

07/01/58

24,750,482

5,750,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/29

4,718,090

1,930,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/32

1,506,613

1,250,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/34

959,630

5,430,000

Syracuse Industrial Development Authority, New York, PILOT

Revenue Bonds, Carousel Center Project, Refunding Series

2016A, (AMT)

.000

01/01/36

4,122,889

2,340,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, Senior Lien Series 2021B-1

.000

05/15/56

2,097,111

2,000,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, Senior Lien Series 2022 A

.000

05/15/51

1,828,962

1,650,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Bonds, Senior Lien Subseries 2021A-1

.000

05/15/51

1,702,485

2,255,000

Triborough Bridge and Tunnel Authority, New York, Payroll

Mobility Tax Senior Lien Bonds, Series 2022C

.125

05/15/52

2,105,355

7,020,000

Triborough Bridge and Tunnel Authority, New York, Sales Tax

Revenue Bonds, MTA Bridges & Tunnels, TBTA Capital Lockbox-

City Sales Tax Series 2023A

.250

05/15/58

6,631,286

TOTAL TAX OBLIGATION/LIMITED

209,620,448

TRANSPORTATION - 29.4%

4,600,000

Build NYC Resource Corporation, New York, Airport Facilities

Revenue Bonds. TrIPs Obligated Group, Senior Series 2025,

(AMT)

.500

07/01/55

4,784,162

2,700,000

Metropolitan Transportation Authority, New York, Transportation

Revenue Bonds, Green Climate Bond Certified Series 2016A-1

.250

11/15/56

2,705,170

2,000,000

Metropolitan Transportation Authority, New York, Transportation

Revenue Bonds, Green Climate Bond Certified Series 2020A-1

.000

11/15/48

2,039,079

3,600,000

Metropolitan Transportation Authority, New York, Transportation

Revenue Bonds, Green Climate Bond Certified Series 2020C-1

.750

11/15/45

3,613,719

2,000,000

Metropolitan Transportation Authority, New York, Transportation

Revenue Bonds, Green Climate Bond Certified Series 2020C-1

.250

11/15/55

2,058,344

2,500,000

Metropolitan Transportation Authority, New York, Transportation

Revenue Bonds, Refunding Green Series 2016B

.000

11/15/37

2,533,478

6,655,000

Metropolitan Transportation Authority, New York, Transportation

Revenue Bonds, Refunding Series 2017D

.000

11/15/42

6,308,838

2,500,000

Metropolitan Transportation Authority, New York, Transportation

Revenue Bonds, Series 2016C-1

.000

11/15/34

2,542,972

2,800,000

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

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.750

10/01/37

1,792,000

2,000,000

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

Facility Revenue Bonds, Bronx Parking Development Company,

LLC Project, Series 2007

.875

10/01/46

1,280,000

5,270,000

New York City, Industrial Development Agency, Senior Airport

Facilities Revenue Refunding Bonds, TrIPs Obligated Group,

Series 2012A, (AMT)

.000

07/01/28

5,270,864

5,000,000

New York State Thruway Authority, General Revenue Bonds,

Series 2020N

.000

01/01/42

4,983,404

3,000,000

New York State Thruway Authority, General Revenue Bonds,

Series 2020N

.000

01/01/43

2,954,737

8,515,000

New York State Thruway Authority, General Revenue Junior

Indebtedness Obligations, Series 2016A

.000

01/01/51

8,515,479

4,750,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

07/01/31

4,714,703

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

12,020,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.000

%

07/01/46

$

11,990,413

24,965,000

New York Transportation Development Corporation, New

York, Special Facilities Bonds, LaGuardia Airport Terminal B

Redevelopment Project, Series 2016A, (AMT)

.250

01/01/50

24,964,740

6,735,000

New York Transportation Development Corporation, New York,

Special Facilities Revenue Bonds, Terminal 6 John F Kennedy

International Airport Redevelopment Project, Senior Green Series

2024A, (AMT)

.500

12/31/60

6,884,729

3,100,000

New York Transportation Development Corporation, New York,

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

Kennedy International Airport Project, Refunding Series 2016,

(AMT)

.000

08/01/26

3,100,805

12,610,000

New York Transportation Development Corporation, New York,

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

Kennedy International Airport Project, Refunding Series 2016,

(AMT)

.000

08/01/31

12,616,199

1,745,000

New York Transportation Development Corporation, New York,

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

Kennedy International Airport Project, Series 2020, (AMT)

.375

08/01/36

1,823,446

14,915,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport New Terminal 1 Project, Green Series 2023 - BAM

Insured, (AMT)

.375

06/30/60

15,220,731

10,545,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

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

.500

06/30/60

10,688,404

9,270,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, John F Kennedy International

Airport Terminal One Project, Green Series 2025, (AMT)

.000

06/30/55

9,890,474

2,080,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, New Terminal 1 John F Kennedy

International Airport Project, Green Series 2023, (AMT)

.000

06/30/54

2,163,772

1,280,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2020A, (AMT)

.000

12/01/37

1,336,017

1,540,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2020C

.000

12/01/34

1,671,538

1,745,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2020C

.000

12/01/35

1,885,141

2,010,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

12/01/35

2,170,246

10,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

12/01/36

10,724,568

3,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

12/01/37

3,195,739

1,000,000

New York Transportation Development Corporation, New York,

Special Facility Revenue Bonds, Terminal 4 John F Kennedy

International Airport Project, Series 2022, (AMT)

.000

12/01/40

1,045,814

1,300,000

New York Transportation Development Corporation, Special

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

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

.000

01/01/27

1,322,068

10,200,000

New York Transportation Development Corporation, Special

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

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

.000

01/01/28

10,544,415

10,035,000

New York Transportation Development Corporation, Special

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

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

.000

01/01/31

10,352,788

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

#### New York Municipal Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

1,300,000

New York Transportation Development Corporation, Special

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

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

.375

%

10/01/45

$

1,226,571

5,400,000

New York Transportation Development Corporation, Special

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

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

.000

04/01/35

5,962,142

3,775,000

Niagara Frontier Transportation Authority, New York, Airport

Revenue Bonds, Buffalo International Airport, Series 2014A,

(AMT)

.000

04/01/26

3,779,468

15,000,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, One Hundred Ninety-Eighth Series 2016

.250

11/15/56

15,054,785

2,500,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Eighteen Series 2019, (AMT)

.000

11/01/44

2,555,297

10,230,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Fifth Series 2017

.000

11/15/47

10,415,965

4,335,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Forty-Fourth Series 2024

.000

07/15/49

4,601,000

3,160,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Forty-Fourth Series 2024

.000

07/15/54

3,330,533

5,000,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Thirty-Six Series 2022, (AMT)

.000

01/15/47

5,118,636

4,800,000

Port Authority of New York and New Jersey, Consolidated

Revenue Bonds, Two Hundred Twentieth Series 2019, (AMT)

.000

11/01/59

4,189,180

8,055,000

Triborough Bridge and Tunnel Authority, New York, General

Purpose Revenue Bonds, MTA Bridges & Tunnels, Refunding

Series 2017B

.000

11/15/38

8,260,339

10,900,000

Triborough Bridge and Tunnel Authority, New York, General

Purpose Revenue Bonds, MTA Bridges & Tunnels, Series 2019A

.000

11/15/49

11,147,685

14,200,000

Triborough Bridge and Tunnel Authority, New York, General

Revenue Bonds, MTA Bridges & Tunnels, Series 2021A

.000

11/15/56

14,554,130

TOTAL TRANSPORTATION

289,884,727

UTILITIES - 5.5%

4,875,000

Long Island Power Authority, New York, Electric System General

Revenue Bonds, Green Series 2023E

.000

09/01/53

5,069,371

2,215,000

Long Island Power Authority, New York, Electric System General

Revenue Bonds, Series 2017

.000

09/01/42

2,267,277

695,000

Long Island Power Authority, New York, Electric System General

Revenue Bonds, Series 2017

.000

09/01/47

705,698

7,465,000

New York City Municipal Water Finance Authority, New York,

Water and Sewer System Second General Resolution Revenue

Bonds, Fiscal 2018 Series CC-1

.000

06/15/48

7,568,663

9,885,000

New York City Municipal Water Finance Authority, New York,

Water and Sewer System Second General Resolution Revenue

Bonds, Fiscal 2020 Series CC-1

.000

06/15/49

9,089,033

7,500,000

New York City Municipal Water Finance Authority, New York,

Water and Sewer System Second General Resolution Revenue

Bonds, Fiscal 2025 Series BB

.250

06/15/55

7,968,568

7,780,000

(d) New York Energy Finance Development Corporation, Energy

Supply Revenue Bonds, Series 2025, (Mandatory Put 12/01/33)

.000

07/01/56

8,343,549

4,080,000

New York State Power Authority, Green Transmission Project

Revenue Bonds, Green Series 2023A - AGM Insured

.000

11/15/48

4,315,803

9,400,000

(a) Niagara Area Development Corporation, New York, Solid Waste

Disposal Facility Revenue Refunding Bonds, Covanta Energy

Project, Series 2018A, (AMT)

.750

11/01/42

8,436,700

TOTAL UTILITIES

53,764,662

TOTAL MUNICIPAL BONDS

(Cost $981,686,900)

981,107,066

TOTAL LONG-TERM INVESTMENTS

(Cost $981,686,900)

981,107,066

OTHER ASSETS & LIABILITIES, NET - 0.3%

3,151,046

NET ASSETS - 100%

$

984,258,112

AMT

Alternative Minimum Tax

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:

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

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

As of the end of the fiscal period, the aggregate value of these securities is $75,031,227 or 7.6% 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) When-issued or delayed delivery security.

(d) Floating or variable rate security includes the reference rate and spread, when applicable. For mortgage-backed or asset-backed

securities the variable rate is based on the underlying asset of the security. Coupon rate reflects the rate at period end.

New York

Level 1

Level 2

Level 3

Total

Long-Term Investments:

Municipal Bonds

$

–

$

981,107,066

$

–

$

981,107,066

Total

$

–

$

981,107,066

$

–

$

981,107,066

## 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 II

- **b. Investment Company Act file number:** 811-07755

- **c. CIK number of Registrant:** 0001018975

- **d. LEI of Registrant:** 549300IEL53UNMUSWW03

- **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 Connecticut Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000000554

- **c. LEI of Series:** 549300VOYS1BEYE6U206

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-11-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $231916029.00

**Total Liabilities:** $865242.00

**Net Assets:** $231050787.00

**Cash Not Reported:** $572387.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -13.66000000 | **1-Year:** -0.39000000 | **5-Year:** -789.61000000 | **10-Year:** -71346.11000000 | **30-Year:** -70811.72000000

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

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** -596.28000000 | **10-Year:** -4695.33000000 | **30-Year:** -5634.75000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000001524 | 2.88%                | 1.43%                | 0.38%                |
| Class ID C000001527 | 2.89%                | 1.45%                | 0.39%                |
| Class ID C000137688 | 2.81%                | 1.37%                | 0.31%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $5557320.27                                |
| Month 2  | $732.48                  | $2582649.70                                |
| Month 3  | $0.00                    | $247822.14                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Healthcare Facility Expansion Church Home of Hartford Inc. Project, Series 201 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Healthcare Facility Expansion Church Home of Hartford Inc. Project, Series 201 | CUSIP: 20774YJ32<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2600000 | PA      | $2494990.42   | 1.08%             | 2046-09-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Bridgeport, Connecticut, General Obligation Bonds, Series 2016D                                                                                        | Bridgeport, Connecticut, General Obligation Bonds, Series 2016D                                                                                        | CUSIP: 1081516Y2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2013883.80   | 0.87%             | 2041-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2017A                                                                                              | Connecticut State, General Obligation Bonds, Series 2017A                                                                                              | CUSIP: 20772J6V9<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   3270000 | PA      | $3362211.38   | 1.46%             | 2035-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2016M                                            | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2016M                                            | CUSIP: 20774YC54<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1761254.78   | 0.76%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2016K                                                | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Series 2016K                                                | CUSIP: 20774YK55<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1885000 | PA      | $1716979.02   | 0.74%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare, Series 2014E                                              | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare, Series 2014E                                              | CUSIP: 20774YQK6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500321.15    | 0.22%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Duncaster, Inc., Series 2014A                                                  | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Duncaster, Inc., Series 2014A                                                  | CUSIP: 20774YTP2<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1069973.08   | 0.46%             | 2044-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority Revenue Bonds, Hartford HealthCare, Series 2015F                                               | Connecticut Health and Educational Facilities Authority Revenue Bonds, Hartford HealthCare, Series 2015F                                               | CUSIP: 20774YVK0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4601054.78   | 1.99%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2015O                                               | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Middlesex Hospital, Series 2015O                                               | CUSIP: 20774YWB9<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1995000 | PA      | $1996885.08   | 0.86%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Refunding Series 2015L                                  | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Refunding Series 2015L                                  | CUSIP: 20774YXG7<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   5095000 | PA      | $5096718.54   | 2.21%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity Health Credit Group, Series 2016CT                                     | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity Health Credit Group, Series 2016CT                                     | CUSIP: 20774YYL5<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2003084.80   | 0.87%             | 2045-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity Health Credit Group, Series 2016CT                                     | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity Health Credit Group, Series 2016CT                                     | CUSIP: 20774YYM3<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2361083.78   | 1.02%             | 2041-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2016Q-1                                           | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2016Q-1                                           | CUSIP: 20774YYR2<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1885000 | PA      | $1891950.56   | 0.82%             | 2046-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2016A                                                   | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2016A                                                   | CUSIP: 207758VV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3557628.90   | 1.54%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Greater New Haven Water Pollution Control Authority, Connecticut, Regional Wastewater System Revenue Bonds, Series 2005A                               | Greater New Haven Water Pollution Control Authority, Connecticut, Regional Wastewater System Revenue Bonds, Series 2005A                               | CUSIP: 39222PDC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60056.31     | 0.03%             | 2035-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Haven, Connecticut, General Obligation Bonds, Refunding Series 2016A                                                                               | New Haven, Connecticut, General Obligation Bonds, Refunding Series 2016A                                                                               | CUSIP: 6450203H9<br>LEI: 549300U4OHEAZ124LQ06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011868.10   | 0.44%             | 2036-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stamford, Connecticut, Water Pollution Control System and Facility Revenue Bonds, Series 2013A                                                         | Stamford, Connecticut, Water Pollution Control System and Facility Revenue Bonds, Series 2013A                                                         | CUSIP: 852660CL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $500291.05    | 0.22%             | 2043-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| University of Connecticut, General Obligation Bonds, Series 2015A                                                                                      | University of Connecticut, General Obligation Bonds, Series 2015A                                                                                      | CUSIP: 914233B42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1592059.69   | 0.69%             | 2034-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Connecticut, General Obligation Bonds, Series 2017A                                                                                      | University of Connecticut, General Obligation Bonds, Series 2017A                                                                                      | CUSIP: 914233L74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3070945.80   | 1.33%             | 2036-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Waterbury, Connecticut, General Obligation Bonds, Lot A Series 2015                                                                                    | Waterbury, Connecticut, General Obligation Bonds, Lot A Series 2015                                                                                    | CUSIP: 9412472T4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $555982.57    | 0.24%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Waterbury, Connecticut, General Obligation Bonds, Lot A Series 2015                                                                                    | Waterbury, Connecticut, General Obligation Bonds, Lot A Series 2015                                                                                    | CUSIP: 9412472U1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    485000 | PA      | $485856.12    | 0.21%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Waterbury, Connecticut, General Obligation Bonds, Lot A Series 2015                                                                                    | Waterbury, Connecticut, General Obligation Bonds, Lot A Series 2015                                                                                    | CUSIP: 9412472V9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $766322.46    | 0.33%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Waterbury, Connecticut, General Obligation Bonds, Lot A Series 2015                                                                                    | Waterbury, Connecticut, General Obligation Bonds, Lot A Series 2015                                                                                    | CUSIP: 9412472W7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $555924.69    | 0.24%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Waterbury, Connecticut, General Obligation Bonds, Lot A Series 2015                                                                                    | Waterbury, Connecticut, General Obligation Bonds, Lot A Series 2015                                                                                    | CUSIP: 9412472X5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    555000 | PA      | $555899.93    | 0.24%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2017A                                                                                              | Connecticut State, General Obligation Bonds, Series 2017A                                                                                              | CUSIP: 20772J6U1<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1029477.20   | 0.45%             | 2034-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2017I-1                                        | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2017I-1                                        | CUSIP: 20774Y2C0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   5110000 | PA      | $5191451.87   | 2.25%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2017                                                 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2017                                                 | CUSIP: 40065FDD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1273890.00   | 0.55%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2017                                                 | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Refunding Series 2017                                                 | CUSIP: 40065FDE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1014674.90   | 0.44%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Refunding Series 2017           | Harbor Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Harbor Point Project, Refunding Series 2017           | CUSIP: 41154VAK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3720000 | PA      | $3772529.00   | 1.63%             | 2039-04-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2018A                                                   | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2018A                                                   | CUSIP: 207758XR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2076396.00   | 0.90%             | 2037-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2018A                                                   | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2018A                                                   | CUSIP: 207758XS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2070984.60   | 0.90%             | 2038-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2016A                                                   | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes Series 2016A                                                   | CUSIP: 207758VU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1017057.50   | 0.44%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2018A                                                                                              | Connecticut State, General Obligation Bonds, Series 2018A                                                                                              | CUSIP: 20772KBE8<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   1510000 | PA      | $1576001.80   | 0.68%             | 2037-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of New Haven, Series 2018K-1                                        | Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of New Haven, Series 2018K-1                                        | CUSIP: 20774Y4R5<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2021746.60   | 0.88%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2018C                                                                                              | Connecticut State, General Obligation Bonds, Series 2018C                                                                                              | CUSIP: 20772KCX5<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1382033.57   | 0.60%             | 2038-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hartford County Metropolitan District, Connecticut, General Obligation Bonds, Series 2018                                                              | Hartford County Metropolitan District, Connecticut, General Obligation Bonds, Series 2018                                                              | CUSIP: 416489VA7<br>LEI: 549300CEZQKAR15IFS62 | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1088112.37   | 0.47%             | 2035-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stratford, Connecticut, General Obligation Bonds, Series 2017                                                                                          | Stratford, Connecticut, General Obligation Bonds, Series 2017                                                                                          | CUSIP: 8628116N1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2370000 | PA      | $2378075.54   | 1.03%             | 2039-01-01      | 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: 74529JPX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3050000 | PA      | $2973645.69   | 1.29%             | 2058-07-01      | Fixed         | 5.00%                 | 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: 74529JPW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4250000 | PA      | $4046005.53   | 1.75%             | 2053-07-01      | Fixed         | 4.75%                 | 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: 74529JQG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1860000 | PA      | $634255.72    | 0.27%             | 2046-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2019A                                                                                              | Connecticut State, General Obligation Bonds, Series 2019A                                                                                              | CUSIP: 20772KGF0<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1476460.91   | 0.64%             | 2037-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2019A                                                                                              | Connecticut State, General Obligation Bonds, Series 2019A                                                                                              | CUSIP: 20772KGH6<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |    650000 | PA      | $685922.71    | 0.30%             | 2039-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2019B-1                                                          | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2019B-1                                                          | CUSIP: 20775CU77<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   1890000 | PA      | $1742748.78   | 0.75%             | 2039-11-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| University of Connecticut, General Obligation Bonds, Series 2019A                                                                                      | University of Connecticut, General Obligation Bonds, Series 2019A                                                                                      | CUSIP: 914233U82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056293.40   | 0.46%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Connecticut, General Obligation Bonds, Series 2019A                                                                                      | University of Connecticut, General Obligation Bonds, Series 2019A                                                                                      | CUSIP: 914233V24<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1012662.10   | 0.44%             | 2038-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Stamford, Connecticut, Water Pollution Control System and Facility Revenue Bonds, Series 2019                                                          | Stamford, Connecticut, Water Pollution Control System and Facility Revenue Bonds, Series 2019                                                          | CUSIP: 852660EJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $496804.20    | 0.22%             | 2044-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Great Pond Improvement District, Connecticut, Special Obligation Revenue Bonds, Great Pond Phase 1 Project, Series 2019                                | Great Pond Improvement District, Connecticut, Special Obligation Revenue Bonds, Great Pond Phase 1 Project, Series 2019                                | CUSIP: 39119YAA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    920000 | PA      | $878426.12    | 0.38%             | 2048-10-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| Hartford County Metropolitan District, Connecticut, General Obligation Bonds, Series 2019A                                                             | Hartford County Metropolitan District, Connecticut, General Obligation Bonds, Series 2019A                                                             | CUSIP: 416489VZ2<br>LEI: 549300CEZQKAR15IFS62 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1095895.85   | 0.47%             | 2039-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Nuvance Health Series 2019A                                                    | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Nuvance Health Series 2019A                                                    | CUSIP: 20775DCM2<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2455000 | PA      | $2497149.16   | 1.08%             | 2034-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2017R                                             | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2017R                                             | CUSIP: 20774Y3B1<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    750000 | PA      | $697977.15    | 0.30%             | 2047-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Mary Wade Home Issue, Series 2019A-1                                           | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Mary Wade Home Issue, Series 2019A-1                                           | CUSIP: 20775DDE9<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    200000 | PA      | $157510.86    | 0.07%             | 2054-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Oxford, Connecticut, General Obligation Bonds, Series 2019A                                                                                            | Oxford, Connecticut, General Obligation Bonds, Series 2019A                                                                                            | CUSIP: 691412NF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1035000 | PA      | $1040670.25   | 0.45%             | 2039-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Masonicare Issue, Series 2016F                                                 | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Masonicare Issue, Series 2016F                                                 | CUSIP: 20774YW37<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   4365000 | PA      | $4380170.56   | 1.90%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Griffin Hospital, Series 2020G-1                                               | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Griffin Hospital, Series 2020G-1                                               | CUSIP: 20775DEJ7<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    695000 | PA      | $700026.17    | 0.30%             | 2039-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare Issue, Series 2020A                                        | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare Issue, Series 2020A                                        | CUSIP: 20775DFD9<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1061028.77   | 0.46%             | 2040-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2020A                                                                                              | Connecticut State, General Obligation Bonds, Series 2020A                                                                                              | CUSIP: 20772KJA8<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2058335.00   | 0.89%             | 2037-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Nuvance Health Series 2019A                                                    | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Nuvance Health Series 2019A                                                    | CUSIP: 20775DCT7<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2860000 | PA      | $2777022.53   | 1.20%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2020A                                                          | Guam Government Waterworks Authority, Water and Wastewater System Revenue Bonds, Series 2020A                                                          | CUSIP: 40065FDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $297525.64    | 0.13%             | 2050-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Higher Education Supplemental Loan Authority, State Supported Revenue Bonds, CHESLA Loan Program, Series 2020B                             | Connecticut Higher Education Supplemental Loan Authority, State Supported Revenue Bonds, CHESLA Loan Program, Series 2020B                             | CUSIP: 207743VJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1605000 | PA      | $1499684.39   | 0.65%             | 2036-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Series 2020R                                                  | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Series 2020R                                                  | CUSIP: 20775DHF2<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1414684.95   | 0.61%             | 2045-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, McLean Affiliates, Series 2020A                                                | Connecticut Health and Educational Facilities Authority, Revenue Bonds, McLean Affiliates, Series 2020A                                                | CUSIP: 20775DHH8<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2345106.11   | 1.01%             | 2045-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| East Lyme, Connecticut, General Obligation Bonds, Series 2020                                                                                          | East Lyme, Connecticut, General Obligation Bonds, Series 2020                                                                                          | CUSIP: 273587L60<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $287124.18    | 0.12%             | 2040-07-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| West Haven, Connecticut, General Obligation Bonds, Series 2020                                                                                         | West Haven, Connecticut, General Obligation Bonds, Series 2020                                                                                         | CUSIP: 953140T67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $757060.58    | 0.33%             | 2040-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| East Haddam, Connecticut, General Obligation Bonds, Series 2020A                                                                                       | East Haddam, Connecticut, General Obligation Bonds, Series 2020A                                                                                       | CUSIP: 272623JP5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $287096.01    | 0.12%             | 2037-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2020A                                                         | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2020A                                                         | CUSIP: 745160SJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984383.40    | 0.43%             | 2047-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2020E-3                                                          | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2020E-3                                                          | CUSIP: 20775HET6<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    190000 | PA      | $142821.65    | 0.06%             | 2038-05-15      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, The Taft School Isue, Series 2021L                                             | Connecticut Health and Educational Facilities Authority, Revenue Bonds, The Taft School Isue, Series 2021L                                             | CUSIP: 20775DKU5<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    790000 | PA      | $695461.49    | 0.30%             | 2041-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, The Taft School Isue, Series 2021L                                             | Connecticut Health and Educational Facilities Authority, Revenue Bonds, The Taft School Isue, Series 2021L                                             | CUSIP: 20775DKV3<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2210000 | PA      | $1748763.28   | 0.76%             | 2046-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority, State Supported Special Obligation Bonds, Series 2021-28                                                        | Connecticut Housing Finance Authority, State Supported Special Obligation Bonds, Series 2021-28                                                        | CUSIP: 20775PBB0<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    960000 | PA      | $763309.44    | 0.33%             | 2040-06-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority, State Supported Special Obligation Bonds, Series 2021-27                                                        | Connecticut Housing Finance Authority, State Supported Special Obligation Bonds, Series 2021-27                                                        | CUSIP: 20775PAM7<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $770193.10    | 0.33%             | 2041-06-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority, State Supported Special Obligation Bonds, Series 2021-27                                                        | Connecticut Housing Finance Authority, State Supported Special Obligation Bonds, Series 2021-27                                                        | CUSIP: 20775PAN5<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $713789.10    | 0.31%             | 2046-06-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Green Series 2021B-3                                                    | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Green Series 2021B-3                                                    | CUSIP: 20775HKJ1<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1069019.42   | 0.46%             | 2041-11-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Green Series 2021B-3                                                    | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Green Series 2021B-3                                                    | CUSIP: 20775HKK8<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1047345.94   | 0.45%             | 2046-11-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2021A                                                  | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2021A                                                  | CUSIP: 207758D42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1524453.30   | 0.66%             | 2040-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Series 2021S                                                  | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Series 2021S                                                  | CUSIP: 20775DMS8<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1175000 | PA      | $1036448.94   | 0.45%             | 2051-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Series 2021S                                                  | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Series 2021S                                                  | CUSIP: 20775DMR0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3649234.00   | 1.58%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Naugatuck, Connecticut, Certificates of Participation, Incineration Facilities Project, Series 2021A                                                   | Naugatuck, Connecticut, Certificates of Participation, Incineration Facilities Project, Series 2021A                                                   | CUSIP: 639066CX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1825000 | PA      | $1778086.00   | 0.77%             | 2041-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2021B                                                         | Puerto Rico Aqueduct and Sewerage Authority, Revenue Bonds, Refunding Senior Lien Series 2021B                                                         | CUSIP: 745160TF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2090063.40   | 0.90%             | 2033-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Forward Delivery Series 2022M                               | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Stamford Hospital, Forward Delivery Series 2022M                               | CUSIP: 20775DPN6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1420783.20   | 0.61%             | 2042-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Steel Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Steelpointe Harbor Project, Series 2021                | Steel Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Steelpointe Harbor Project, Series 2021                | CUSIP: 85814YAD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $86156.00     | 0.04%             | 2051-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, The Jerome Home Issue, Series 2021E                                            | Connecticut Health and Educational Facilities Authority, Revenue Bonds, The Jerome Home Issue, Series 2021E                                            | CUSIP: 20775DQU9<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    730000 | PA      | $661832.24    | 0.29%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, The Jerome Home Issue, Series 2021E                                            | Connecticut Health and Educational Facilities Authority, Revenue Bonds, The Jerome Home Issue, Series 2021E                                            | CUSIP: 20775DQV7<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $989626.00    | 0.43%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Matching Fund Special Purpose Securitization Corporation, Virgin Islands, Revenue Bonds, Series 2022A                                                  | Matching Fund Special Purpose Securitization Corporation, Virgin Islands, Revenue Bonds, Series 2022A                                                  | CUSIP: 57665NAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    635000 | PA      | $659264.68    | 0.29%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of Hartford, Series 2022P                                           | Connecticut Health and Educational Facilities Authority, Revenue Bonds, University of Hartford, Series 2022P                                           | CUSIP: 20775DTX0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1732511.58   | 0.75%             | 2052-07-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2022U                                             | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2022U                                             | CUSIP: 20775DST0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2286045.25   | 0.99%             | 2052-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2020K                                          | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series 2020K                                          | CUSIP: 20775DJS2<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2108130.00   | 0.91%             | 2040-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hopkins School, Series 2022E                                                   | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hopkins School, Series 2022E                                                   | CUSIP: 20775DUJ9<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1625972.37   | 0.70%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hopkins School, Series 2022E                                                   | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hopkins School, Series 2022E                                                   | CUSIP: 20775DUK6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1030192.60   | 0.45%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series L                                              | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Sacred Heart University, Series L                                              | CUSIP: 20775DTP7<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   3465000 | PA      | $3688589.52   | 1.60%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Britain, Connecticut, General Obligation Bonds, Series 2022A                                                                                       | New Britain, Connecticut, General Obligation Bonds, Series 2022A                                                                                       | CUSIP: 642714EW5<br>LEI: 549300MERJSUOPGAV271 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5200620.00   | 2.25%             | 2047-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Great Pond Improvement District, Connecticut, Special Obligation Revenue Bonds, Great Pond Phase 2 Project, Series 2022                                | Great Pond Improvement District, Connecticut, Special Obligation Revenue Bonds, Great Pond Phase 2 Project, Series 2022                                | CUSIP: 39119YAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $430662.20    | 0.19%             | 2052-10-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2017A-3                                                          | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2017A-3                                                          | CUSIP: 20775CPU2<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    750000 | PA      | $750000.00    | 0.32%             | 2047-11-15      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2023N                                            | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2023N                                            | CUSIP: 20775DVB5<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2059701.20   | 0.89%             | 2048-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Connecticut Children?s Medical Center and Subsidiaries, Series 2023E           | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Connecticut Children?s Medical Center and Subsidiaries, Series 2023E           | CUSIP: 20775DVR0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   5160000 | PA      | $4859466.12   | 2.10%             | 2053-07-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Connecticut Children?s Medical Center and Subsidiaries, Series 2023E           | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Connecticut Children?s Medical Center and Subsidiaries, Series 2023E           | CUSIP: 20775DVQ2<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058901.20   | 0.46%             | 2048-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Mary Wade Home Issue, Series 2019A-1                                           | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Mary Wade Home Issue, Series 2019A-1                                           | CUSIP: 20775DDC3<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    900000 | PA      | $850962.87    | 0.37%             | 2034-10-01      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| South Central Connecticut Regional Water Authority, Connecticut, Water System Revenue Bonds, Thirty-Seventh Series 2023A-1                             | South Central Connecticut Regional Water Authority, Connecticut, Water System Revenue Bonds, Thirty-Seventh Series 2023A-1                             | CUSIP: 83722ACJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2685000 | PA      | $2847401.42   | 1.23%             | 2051-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hartford County Metropolitan District, Connecticut, General Obligation Bonds, Series 2023                                                              | Hartford County Metropolitan District, Connecticut, General Obligation Bonds, Series 2023                                                              | CUSIP: 416489ZZ8<br>LEI: 549300CEZQKAR15IFS62 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3034445.70   | 1.31%             | 2043-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Naugatuck, Connecticut, General Obligation Bonds, Tax Increment Series 2023                                                                            | Naugatuck, Connecticut, General Obligation Bonds, Tax Increment Series 2023                                                                            | CUSIP: 639064D27<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2285000 | PA      | $2439974.64   | 1.06%             | 2048-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Naugatuck, Connecticut, General Obligation Bonds, Tax Increment Series 2023                                                                            | Naugatuck, Connecticut, General Obligation Bonds, Tax Increment Series 2023                                                                            | CUSIP: 639064D35<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1010215.60   | 0.44%             | 2053-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2023A                                                  | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2023A                                                  | CUSIP: 207758Q71<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2080000 | PA      | $2274392.85   | 0.98%             | 2044-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| University of Connecticut, Student Fee Revenue Bonds, Special Obligation Series 2023A                                                                  | University of Connecticut, Student Fee Revenue Bonds, Special Obligation Series 2023A                                                                  | CUSIP: 914225JQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1296269.52   | 0.56%             | 2048-11-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| University of Connecticut, General Obligation Bonds, Series 2023A                                                                                      | University of Connecticut, General Obligation Bonds, Series 2023A                                                                                      | CUSIP: 9142334G3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $452081.95    | 0.20%             | 2043-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Loomis Chaffe School, Series 2023L                                             | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Loomis Chaffe School, Series 2023L                                             | CUSIP: 20775DXD9<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1130000 | PA      | $1117993.64   | 0.48%             | 2043-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2024A                                                     | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2024A                                                     | CUSIP: 20775HL92<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   1430000 | PA      | $1412543.99   | 0.61%             | 2049-11-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured Series 2019A-2B                                                     | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Restructured Series 2019A-2B                                                     | CUSIP: 74529JRR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997675.70    | 0.43%             | 2040-07-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Steel Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Steelpointe Harbor Project, Series 2024                | Steel Point Infrastructure Improvement District, Connecticut, Special Obligation Revenue Bonds, Steelpointe Harbor Project, Series 2024                | CUSIP: 85814YAF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $534306.15    | 0.23%             | 2052-04-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2024D                                                                                              | Connecticut State, General Obligation Bonds, Series 2024D                                                                                              | CUSIP: 20772KWY1<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |    500000 | PA      | $509232.75    | 0.22%             | 2041-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2024D                                                                                              | Connecticut State, General Obligation Bonds, Series 2024D                                                                                              | CUSIP: 20772KWZ8<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2188188.40   | 0.95%             | 2042-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2024D                                                                                              | Connecticut State, General Obligation Bonds, Series 2024D                                                                                              | CUSIP: 20772KXB0<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1076599.60   | 0.47%             | 2044-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Series 2024A                                      | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Series 2024A                                      | CUSIP: 20775DYN6<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    985000 | PA      | $1055462.17   | 0.46%             | 2045-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Series 2024A                                      | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Yale-New Haven Health Issue, Series 2024A                                      | CUSIP: 20775DYQ9<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    795000 | PA      | $842410.78    | 0.36%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Power Authority, Revenue Bonds, Refunding Series 2024A                                                                                            | Guam Power Authority, Revenue Bonds, Refunding Series 2024A                                                                                            | CUSIP: 400653LE9<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |    200000 | PA      | $207770.34    | 0.09%             | 2043-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare Issue, Series 2021A                                        | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Hartford HealthCare Issue, Series 2021A                                        | CUSIP: 20775DVA7<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2732894.70   | 1.18%             | 2051-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | Guam A.B. Won Pat  International Airport Authority, Revenue Bonds, Series 2024A                                                                        | CUSIP: 40064RFX2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $105551.91    | 0.05%             | 2041-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bridgeport, Connecticut, General Obligation Bonds, Series 2024A                                                                                        | Bridgeport, Connecticut, General Obligation Bonds, Series 2024A                                                                                        | CUSIP: 108152NJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1076465.50   | 0.47%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Social Series 2024G                                                                                       | Connecticut State, General Obligation Bonds, Social Series 2024G                                                                                       | CUSIP: 20772KYT0<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |    225000 | PA      | $192976.13    | 0.08%             | 2043-11-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Nuvance Health Series 2019A                                                    | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Nuvance Health Series 2019A                                                    | CUSIP: 20775DZD7<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   6020000 | PA      | $5580443.68   | 2.42%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hartford County Metropolitan District, Connecticut, Clean Water Project Revenue Bonds, Series 2024                                                     | Hartford County Metropolitan District, Connecticut, Clean Water Project Revenue Bonds, Series 2024                                                     | CUSIP: 416498FK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1657434.23   | 0.72%             | 2036-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Hartford County Metropolitan District, Connecticut, Clean Water Project Revenue Bonds, Series 2024                                                     | Hartford County Metropolitan District, Connecticut, Clean Water Project Revenue Bonds, Series 2024                                                     | CUSIP: 416498FL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1795000 | PA      | $1900039.45   | 0.82%             | 2037-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Airport Authority, Connecticut, Customer Facility Charge Revenue Bonds, Ground Transportation Center Project, Series 2019A                 | Connecticut Airport Authority, Connecticut, Customer Facility Charge Revenue Bonds, Ground Transportation Center Project, Series 2019A                 | CUSIP: 20773CAX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6125000 | PA      | $6203710.54   | 2.68%             | 2049-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2024A-2                                                | Connecticut State, Special Tax Obligation Bonds, Transportation Infrastructure Purposes, Series 2024A-2                                                | CUSIP: 207758V42<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3350000 | PA      | $3651715.07   | 1.58%             | 2043-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Central Connecticut Regional Water Authority, Connecticut, Water System Revenue Bonds, Thirty-Ninth Series 2025A                                 | South Central Connecticut Regional Water Authority, Connecticut, Water System Revenue Bonds, Thirty-Ninth Series 2025A                                 | CUSIP: 83722ADS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2540000 | PA      | $2694575.26   | 1.17%             | 2054-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Airport Authority, Connecticut, Customer Facility Charge Revenue Bonds, Ground Transportation Center Project, Series 2019A                 | Connecticut Airport Authority, Connecticut, Customer Facility Charge Revenue Bonds, Ground Transportation Center Project, Series 2019A                 | CUSIP: 20773CAZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1360061.10   | 0.59%             | 2049-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2021A                                                                                              | Connecticut State, General Obligation Bonds, Series 2021A                                                                                              | CUSIP: 20772KZF9<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1789736.40   | 0.77%             | 2040-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Virgin Islands Transportation & Infrastructure Corporation, Virgin Islands, Grant Anticipation Revenue Bonds, Federal Highway Grant Anticipation Reven | Virgin Islands Transportation & Infrastructure Corporation, Virgin Islands, Grant Anticipation Revenue Bonds, Federal Highway Grant Anticipation Reven | CUSIP: 927686AS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1353560.50   | 0.59%             | 2041-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2025C-1                                                   | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Social Series 2025C-1                                                   | CUSIP: 20775JAJ8<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043020.50   | 0.45%             | 2040-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2025V                                             | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2025V                                             | CUSIP: 20775DB27<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    400000 | PA      | $438600.36    | 0.19%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2025V                                             | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2025V                                             | CUSIP: 20775DB43<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    350000 | PA      | $375006.31    | 0.16%             | 2044-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2025V                                             | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Fairfield University, Series 2025V                                             | CUSIP: 20775DB68<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1077522.70   | 0.47%             | 2047-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Government of Guam, Business Privilege Tax Bonds, Refunding Series 2025G                                                                               | Government of Guam, Business Privilege Tax Bonds, Refunding Series 2025G                                                                               | CUSIP: 40065NDB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $562071.35    | 0.24%             | 2035-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2023O                                            | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2023O                                            | CUSIP: 20775DD33<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1160723.10   | 0.50%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2023O                                            | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Quinnipiac University, Series 2023O                                            | CUSIP: 20775DD41<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    375000 | PA      | $431209.20    | 0.19%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2025C                                                                                              | Connecticut State, General Obligation Bonds, Series 2025C                                                                                              | CUSIP: 20772KG52<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2176794.00   | 0.94%             | 2044-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State, General Obligation Bonds, Series 2025C                                                                                              | Connecticut State, General Obligation Bonds, Series 2025C                                                                                              | CUSIP: 20772KG60<br>LEI: 549300PHW5BZHA7BEX81 | Long             | DBT              | MUN               | US        |   2085000 | PA      | $2259297.45   | 0.98%             | 2045-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2018A-3                                                          | Connecticut Housing Finance Authority, Housing Mortgage Finance Program Bonds, Series 2018A-3                                                          | CUSIP: 20775CYA6<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 1.30%             | 2048-05-15      | Variable      | 2.79%                 | No            |                  2 | On Loan: No      |
| Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Refunding Series 2008L                                        | Connecticut Health and Educational Facilities Authority, Revenue Bonds, Trinity College, Refunding Series 2008L                                        | CUSIP: 20774UG82<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   3440000 | PA      | $3440000.00   | 1.49%             | 2034-07-01      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-30

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

**Signature:** Gina Spunder

**Name of Signer:** Gina Spunder

**Title:** Director, Fund Financial Reporting