# EDGAR Filing Document

**Accession Number:** 0001018975
**File Stem:** 0001752724-25-181341
**Filing Date:** 2025-7
**Character Count:** 602236
**Document Hash:** 8cfe64a922ca653335b79a4204c471f7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-181341.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-181341

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**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:** 251158066

**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 California High Yield Municipal Bond Fund (Series ID: S000008513)

| Class ID   | Class Name                                                 | Ticker Symbol   |
|:---|:---|:---|
| C000023361 | Nuveen California High Yield Municipal Bond Fund - Class A | NCHAX           |
| C000023364 | Nuveen California High Yield Municipal Bond Fund - Class I | NCHRX           |
| C000137692 | Class C                                                    | NAWSX           |

## Nport-Ex

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025

#### California

#### High

#### Yield

#### Municipal

#### Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

123.2%

X

1,130,966,447

MUNICIPAL

BONDS

-

123.2%

X

–

CONSUMER

STAPLES

-

1.7%

$

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

$

5,924,353

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

1,040,981

3,460,000

Guam

Economic

Development

&

Commerce

Authority,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2007A

.625

06/01/47

3,178,232

17,600,000

Inland

Empire

Tobacco

Securitization

Authority,

California,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2007C-2.

Turbo

Capital

Appreciation

.000

06/01/47

2,935,460

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

1,759,866

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

1,203,292

TOTAL

CONSUMER

STAPLES

16,042,184

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

25.0%

4,140,000

(a) California

Enterprise

Development

Authority,

Charter

School

Revenue

Bonds,

Norton

Science

and

Language

Academy

Project,

Series

2020

.250

07/01/58

4,207,578

1,505,000

(a) California

Enterprise

Development

Authority,

Charter

School

Revenue

Bonds,

Rocklin

Academy

Project,

Series

2024

.000

06/01/44

1,447,796

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

3,722,261

900,000

California

Municipal

Finance

Authority

Charter

School

Revenue

Bonds,

John

Adams

Academies,

Inc.

Project,

Series

2015A

.000

10/01/35

899,930

1,335,000

California

Municipal

Finance

Authority

Charter

School

Revenue

Bonds,

John

Adams

Academies,

Inc.

Project,

Series

2015A

.250

10/01/45

1,250,417

4,020,000

(a) California

Municipal

Finance

Authority

Charter

School

Revenue

Bonds,

John

Adams

Academies,

Inc.

Project,

Series

2017A

.000

10/01/47

3,645,676

700,000

(a) California

Municipal

Finance

Authority

Charter

School

Revenue

Bonds,

River

Charter

Schools

Project,

Series

2018A

.500

06/01/38

700,380

2,000,000

(a) California

Municipal

Finance

Authority

Charter

School

Revenue

Bonds,

River

Charter

Schools

Project,

Series

2018A

.500

06/01/48

1,878,214

250,000

(a) California

Municipal

Finance

Authority

Charter

School

Revenue

Bonds,

River

Charter

Schools

Project,

Series

2018A

.500

06/01/53

231,543

1,150,000

(a) California

Municipal

Finance

Authority,

Charter

School

Lease

Revenue

Bonds,

Bella

Mente

Montessori

Academy

Project,

Series

2018A

.000

06/01/48

1,075,304

400,000

(a) California

Municipal

Finance

Authority,

Charter

School

Lease

Revenue

Bonds,

Santa

Rosa

Academy

Project,

Series

2015

.125

07/01/35

399,991

425,000

(a) California

Municipal

Finance

Authority,

Charter

School

Lease

Revenue

Bonds,

Santa

Rosa

Academy

Project,

Series

2015

.375

07/01/45

397,531

405,000

(a) California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

John

Adams

Academies,

Inc.

-

Lincoln

Project,

Series

2019A

.000

10/01/29

397,762

90,000

(a) California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

John

Adams

Academies,

Inc.

-

Lincoln

Project,

Taxable

Series

2019B

.000

10/01/39

86,227

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

1,353,648

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

866,361

1,400,000

California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

John

Adams

Academies,

Inc.

Project,

Series

2014A

.000

10/01/34

1,399,976

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### High

#### Yield

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

465,000

California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

John

Adams

Academies,

Inc.

Project,

Series

2014A

.000

%

10/01/44

$

425,167

3,695,000

(a) California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

Palmdale

Aerospace

Academy

Project,

Series

2016A

.000

07/01/41

3,409,782

1,000,000

(a) California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

Palmdale

Aerospace

Academy

Project,

Series

2018A

.000

07/01/38

967,960

1,800,000

(a) California

Municipal

Finance

Authority,

Charter

School

Revenue

Bonds,

Palmdale

Aerospace

Academy

Project,

Series

2018A

.000

07/01/49

1,614,868

1,715,000

California

Municipal

Finance

Authority,

Education

Revenue

Bonds, American

Heritage

Foundation

Project,

Series

2016A

.000

06/01/46

1,652,395

1,145,000

California

Municipal

Finance

Authority,

Education

Revenue

Bonds,

Literacy

First

Charter

Schools

Project,

Series

2019A

.000

12/01/39

1,159,034

2,260,000

(a) California

Municipal

Finance

Authority,

Education

Revenue

Bonds,

STREAM

Charter

Schools

Project,

Series

2020A

.000

06/15/51

1,935,985

1,000,000

(a) California

Municipal

Finance

Authority,

Educational

Facilities

Revenue

Bonds,

Westside

Neighborhood

School

Project,

Series

2024

.375

06/15/64

1,044,093

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

734,836

13,905,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

American

Musical

and

Dramatic

Academy

Inc.,

Series

2023A

.250

07/01/53

13,544,254

775,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

California

Baptist

University,

Refunding

Series

2025A

.375

11/01/45

779,919

500,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

California

Baptist

University,

Refunding

Series

2025A

.625

11/01/54

502,808

1,500,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

California

Baptist

University,

Series

2016A

.000

11/01/36

1,504,659

1,555,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

California

Baptist

University,

Series

2016A

.000

11/01/46

1,443,902

1,000,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

Claremont

Graduate

University,

Refunding

Series

2020B

.000

10/01/49

893,497

1,000,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

Claremont

Graduate

University,

Refunding

Series

2020B

.000

10/01/54

874,349

270,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

Goodwill

Industries

of

Sacramento

Valley

&

Northern

Nevada

Project,

Series

2012A

.625

01/01/32

262,436

3,700,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Goodwill

Industries

of

Sacramento

Valley

&

Northern

Nevada

Project,

Series

2014A

.250

01/01/45

2,848,720

7,000,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

Simpson

University,

Series

2020A

.000

10/01/50

6,793,782

1,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

The

Master's

University

&

Seminary,

Series

2019

.000

08/01/34

1,020,719

1,100,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

Turning

Point

School,

Series

2024

.250

06/01/44

1,027,251

1,300,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

Turning

Point

School,

Series

2024

.500

06/01/54

1,192,515

350,000

(a) California

Municipal

Finance

Authority,

School

Facility

Revenue

Bonds,

Saint

Mary's

School-Aliso

Viejo,

Series

2024A

.500

05/01/44

349,376

435,000

(a) California

Municipal

Finance

Authority,

School

Facility

Revenue

Bonds,

Saint

Mary's

School-Aliso

Viejo,

Series

2024A

.750

05/01/54

434,294

2,000,000

(a) California

Public

Finance

Authority,

Charter

School

Lease

Revenue

Bonds,

California

Crosspoint

Academy

Project,

Series

2020A

.125

07/01/55

1,587,314

700,000

California

Public

Finance

Authority,

Charter

School

Lease

Revenue

Bonds,

Multicultural

Learning

Center

Project,

Series

2017A

.250

06/15/47

701,861

4,500,000

(a) California

Public

Finance

Authority,

Educational

Facility

Revenue

Bonds,

Crossroads

Christian

Schools,

Series

2020

.000

01/01/56

3,735,018

1,075,000

(a) California

School

Finance

Authority

Charter

School

Facility

Revenue

Bonds,

Grimmway

Schools-Obligated

Group,

Series

2016A

.000

07/01/46

1,024,714

755,000

(a) California

School

Finance

Authority

Charter

School

Revenue

Bonds,

Bright

Star

Schools

-

Obligated

Group,

Series

2017

.000

06/01/37

736,333

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

2,000,000

(a) California

School

Finance

Authority

Charter

School

Revenue

Bonds,

Bright

Star

Schools

-

Obligated

Group,

Series

2017

.000

%

06/01/47

$

1,814,911

2,090,000

(a) California

School

Finance

Authority

Charter

School

Revenue

Bonds,

Bright

Star

Schools

-

Obligated

Group,

Series

2017

.000

06/01/54

1,840,163

1,000,000

(a) California

School

Finance

Authority

Charter

School

Revenue

Bonds,

Ednovate

?

Obligated

Group,

Series

2018

.000

06/01/48

885,082

960,000

(a) California

School

Finance

Authority

Charter

School

Revenue

Bonds,

Fenton

Schools

-

Obligated

Group,

Series

2020A

.000

07/01/40

934,485

3,175,000

(a) California

School

Finance

Authority

Charter

School

Revenue

Bonds,

John

Adams

Academy

Obligated

Group,

Series

2022A

.000

07/01/52

2,846,060

8,125,000

(a) California

School

Finance

Authority

Charter

School

Revenue

Bonds,

John

Adams

Academy

Obligated

Group,

Series

2022A

.125

07/01/62

7,221,410

305,000

(a) California

School

Finance

Authority

School

Facility

Revenue

Bonds,

Green

Dot

Public

Schools

California

Projects,

Series

2018A

.000

08/01/48

292,809

9,925,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Alta

Public

Schools

-

Obligated

Group,

Series

2020A

.000

06/01/59

8,885,437

1,710,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Alta

Public

Schools

-

Obligated

Group,

Series

2024

.625

06/01/44

1,560,182

1,225,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Alta

Public

Schools

-

Obligated

Group,

Series

2024

.875

06/01/54

1,096,162

3,375,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Alta

Public

Schools

-

Obligated

Group,

Series

2024

.000

06/01/64

2,989,203

585,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Aspire

Public

Schools,

Refunding

Series

2015A

.000

08/01/35

578,841

1,040,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Aspire

Public

Schools,

Refunding

Series

2015A

.000

08/01/40

1,007,035

1,600,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Aspire

Public

Schools,

Refunding

Series

2016

.000

08/01/41

1,529,524

460,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Aspire

Public

Schools,

Refunding

Series

2016

.000

08/01/46

428,691

1,100,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Encore

Education

Obligated

Group,

Series

2016A

.000

06/01/52

1,078,000

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

793,328

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

333,263

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

4,541,171

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

4,519,113

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

2,363,839

1,300,000

California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

TEACH

Public

Schools

Obligated

Group,

Series

2016A

.875

06/01/52

1,301,691

1,600,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

TEACH

Public

Schools

Obligated

Group,

Series

2019A

.000

06/01/58

1,412,037

2,075,000

(a) California

School

Finance

Authority,

Charter

School

Lease

Revenue

Bonds,

Pathways

to

College

Project,

Series

2023A

.250

06/15/43

2,085,357

6,740,000

(a) California

School

Finance

Authority,

Charter

School

Lease

Revenue

Bonds,

Pathways

to

College

Project,

Series

2023A

.375

06/15/53

6,761,561

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### High

#### Yield

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

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

$

2,230,644

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

4,617,369

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

1,277,573

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

969,399

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

4,797,133

5,045,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

CIty

Charter

School

Obligated

Group,

Series

2016A

.000

06/01/42

4,667,533

805,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Classical

Academies

Project,

Series

2017A

.000

10/01/44

775,931

235,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Community

High

School

Foundation

Inc,

Series

2017

.000

06/01/37

230,621

235,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Community

High

School

Foundation

Inc,

Series

2017

.000

06/01/47

211,089

1,500,000

(a) 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) 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

1,625,607

1,150,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Ivy

Academia,

Series

2021A

.000

06/01/41

878,860

1,500,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Ivy

Academia,

Series

2021A

.000

06/01/51

1,021,709

1,000,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Ivy

Academia,

Series

2021A

.000

06/01/61

637,103

675,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Kepler

Neighborhood

School,

Series

2017A

.750

05/01/37

676,652

1,135,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Larchmont

Charter

School

Project

,

Series

2018A

.000

06/01/55

1,000,286

560,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Orange

County

Educational

Arts

Academy

Project,

Series

2023A

.625

06/01/43

555,700

700,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Orange

County

Educational

Arts

Academy

Project,

Series

2023A

.875

06/01/53

691,906

425,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Partnerships

to

Uplift

Communities

Project,

Refunding

Social

Series

2023

.500

08/01/47

429,402

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

1,211,051

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

1,394,427

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

2,094,924

2,500,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Rocketship

Education

?

Obligated

Group,

Series

2016A

.000

06/01/46

2,290,144

950,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Rocketship

Education

?

Obligated

Group,

Series

2017A

.125

06/01/47

881,275

1,000,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Rocketship

Education

?

Obligated

Group,

Series

2017A

.250

06/01/52

920,491

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

925,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Rocketship

Public

Schools

?

Obligated

Group,

Series

2017G

.000

%

06/01/53

$

821,939

990,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Rocketship

Public

Schools

Obligated

Group,

Series

2017G

.000

06/01/37

974,152

605,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Russell

Westbrook

Why

Not?

Academy

?

Obligated

Group,

Series

2021A

.000

06/01/31

573,841

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

2,200,620

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

2,071,844

3,000,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Scholarship

Prep

Public

Schools

?

Obligated

Group,

Series

2020A

.000

06/01/60

2,482,960

380,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Scholarship

Prep

Public

Schools

?

Obligated

Group,

Series

2020B

.000

06/01/27

373,764

1,435,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Scholarship

Prep

Public

Schools

?

Obligated

Group,

Series

2023A

.000

06/01/63

1,380,441

490,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Social

Bonds

? iLead

Lancaster

Project,

Series

2021A

.000

06/01/41

448,445

1,450,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Social

Bonds

iLead

Lancaster

Project,

Series

2021A

.000

06/01/51

1,247,410

3,250,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Urban

Discovery

Academy

Project,

Series

2024A

.000

06/01/54

3,015,019

335,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Urban

Discovery

Academy

Project,

Series

2024B

.000

06/01/34

337,312

1,000,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Valley

International

Preparatory

High

School

Project,

Series

2022A

.125

03/01/52

719,791

1,000,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Valley

International

Preparatory

High

School

Project,

Series

2022A

.250

03/01/62

703,002

2,000,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Vibrant

Minds

Charter

School

Project,

Series

2025

.000

04/15/55

2,005,126

750,000

(a) California

School

Finance

Authority,

Educational

Facilities

Revenue

Bonds,

New

Designs

Charter

School

Adams

Campus

Project,

Series

2019A

.000

06/01/40

744,799

650,000

(a) California

School

Finance

Authority,

Educational

Facilities

Revenue

Bonds,

New

Designs

Charter

School

Adams

Campus

Project,

Series

2024A

.000

06/01/54

595,074

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

1,513,728

1,725,000

(a) California

School

Finance

Authority,

Educational

Facility

Revenue

Bonds,

River

Springs

Charter

School

Project,

Series

2017A

.000

07/01/47

1,647,563

1,340,000

(a) California

School

Finance

Authority,

Educational

Facility

Revenue

Bonds,

River

Springs

Charter

School

Project,

Series

2017A

.000

07/01/52

1,247,987

1,230,000

(a) California

School

Finance

Authority,

Educational

Facility

Revenue

Bonds,

River

Springs

Charter

School

Project,

Series

2023A

.750

07/01/42

1,260,991

575,000

California

School

finance

Authority,

School

Facility

Revenue

Bonds, ICEF

-

View

Park

Elementary

and

Middle

Schools,

Series

2014A

.625

10/01/34

574,966

1,000,000

California

School

finance

Authority,

School

Facility

Revenue

Bonds, ICEF

-

View

Park

Elementary

and

Middle

Schools,

Series

2014A

.875

10/01/44

983,637

520,000

California

School

finance

Authority,

School

Facility

Revenue

Bonds, ICEF

-

View

Park

Elementary

and

Middle

Schools,

Series

2014A

.000

10/01/49

511,231

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### High

#### Yield

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

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

$

2,973,906

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

994,361

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

1,987,038

1,200,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Granada

Hills

Charter

High

School

Obligated

Group,

Series

2019

.000

07/01/54

1,143,081

1,200,000

California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Green

Dot

Public

Schools

California

Projects,

Series

2022A

.375

08/01/42

1,226,548

1,150,000

California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Green

Dot

Public

Schools

California

Projects,

Series

2022A

.750

08/01/52

1,180,513

725,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Value

Schools,

Refunding

Series

2023A

.250

07/01/48

719,112

1,355,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Value

Schools,

Series

2016A

.000

07/01/51

1,363,550

9,000,000

(b) California

State

University,

Systemwide

Revenue

Bonds,

Series

2024A,

(UB)

.000

11/01/49

7,875,440

4,325,000

(a) California

Statewide

Communities

Development

Authority

Revenue

Bonds,

California

Baptist

University,

Refunding

Series

2017A

.000

11/01/41

4,138,880

580,000

University

of

Puerto

Rico,

University

System

Revenue

Bonds,

Refunding

Series

2006P

.000

06/01/30

560,465

125,000

University

of

Puerto

Rico,

University

System

Revenue

Bonds,

Series

2006Q

.000

06/01/30

120,790

1,580,000

University

of

Puerto

Rico,

University

System

Revenue

Bonds,

Series

2006Q

.000

06/01/36

1,496,160

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

229,172,106

HEALTH

CARE

-

9.1%

6,180,000

Antelope

Valley

Healthcare

District,

California,

Revenue

Bonds,

Series

2016A

.250

03/01/36

6,189,024

5,280,000

Antelope

Valley

Healthcare

District,

California,

Revenue

Bonds,

Series

2016A

.000

03/01/41

4,923,881

3,915,000

Antelope

Valley

Healthcare

District,

California,

Revenue

Bonds,

Series

2016A

.000

03/01/46

3,453,531

4,000,000

(b) California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2017A,

(UB)

.000

11/15/48

3,391,181

4,740,000

(b) California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Cedars-Sinai

Health

System,

Series

2021A,

(UB)

.000

08/15/48

4,252,937

2,485,000

(b) California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

City

of

Hope

National

Medical

Center,

Series

2019

.000

11/15/49

2,404,378

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

7,698,204

1,455,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Clinicas

del

Camino

Real,

Inc.,

Series

2020

.000

03/01/28

1,448,751

2,000,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

Community

Health

Centers

of

the

Central

Coast,

Inc.,

Series

2021A

.000

12/01/46

1,911,215

5,480,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

.250

11/01/41

5,173,543

8,200,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

.000

11/01/47

7,245,449

1,000,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

.250

11/01/47

920,122

1,565,000

(b) California

Municipal

Financing

Authority,

Certificates

of

Participation,

Palomar

Health,

Series

2022A

.250

11/01/52

1,579,397

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

16,700,000

California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2014A

.500

%

12/01/54

$

16,290,504

2,055,000

(a) California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2016A

.000

12/01/41

1,987,399

2,280,000

(a) California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2016A

.250

12/01/56

2,213,911

315,000

(a) California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2018A

.250

12/01/48

305,850

7,762

(c),(d)

California

Statewide

Community

Development

Authority,

Revenue

Bonds,

Daughters

of

Charity

Health

System,

Series

2005A

.750

12/31/25

7,761

4,493

(c),(d)

California

Statewide

Community

Development

Authority,

Revenue

Bonds,

Daughters

of

Charity

Health

System,

Series

2005A

.750

07/01/30

4,493

4,854

(c),(d)

California

Statewide

Community

Development

Authority,

Revenue

Bonds,

Daughters

of

Charity

Health

System,

Series

2005A

.750

07/01/35

4,854

20,289

(c),(d)

California

Statewide

Community

Development

Authority,

Revenue

Bonds,

Daughters

of

Charity

Health

System,

Series

2005A

.500

07/01/39

20,289

(c),(d)

California

Statewide

Community

Development

Authority,

Revenue

Bonds,

Daughters

of

Charity

Health

System,

Series

2005H

.750

07/01/25

6,100,000

Oroville,

California,

Revenue

Bonds,

Oroville

Hospital

Series

2019

.250

04/01/54

4,638,455

1,500,000

Palomar

Pomerado

Health

Care

District,

California,

Certificates

of

Participation,

Series

2017

.000

11/01/47

957,018

2,245,000

Palomar

Pomerado

Health

System,

California,

Revenue

Bonds,

Refunding

Series

2016

.000

11/01/36

1,951,362

4,790,000

Palomar

Pomerado

Health

System,

California,

Revenue

Bonds,

Refunding

Series

2016

.000

11/01/39

3,941,763

200,000

Washington

Township

Health

Care

District,

California,

Revenue

Bonds,

Series

2017A

.000

07/01/42

193,249

TOTAL

HEALTH

CARE

83,108,925

HOUSING/MULTIFAMILY

-

17.7%

4,330,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Creekwood,

Series

2021A

.000

02/01/56

2,686,435

8,750,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Glendale

Properties,

Junior

Series

2021A-2

.000

08/01/47

6,672,055

4,000,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

K

Street

Flats,

Series

2021A-2

.000

08/01/50

2,994,532

22,495,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Serenity

at

Larkspur

Apartments,

Series

2020A

.000

02/01/50

15,747,355

9,960,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Summit

at

Sausalito

Apartments,

Series

2021A-2

.000

02/01/50

7,399,748

5,880,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

The

Arbors,

Series

2020A

.000

08/01/50

5,439,331

18,480,000

(a) California

Community

Housing

Agency,

Workforce

Housing

Revenue

Bonds,

Annadel

Apartments,

Series

2019A

.000

04/01/49

14,970,565

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

1,016,379

1,585,000

(a) California

Housing

Finance

Agency,

Multifamily

Housing

Revenue

Bonds,

Redwood

Gardens

Apartments,

Subordinate

Lien

Series

2021N-S

.000

03/01/37

1,309,871

58,158

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series2019-1

.250

01/15/35

58,431

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### High

#### Yield

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

8,334,673

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Social

Certificates

Series

2023-1

.375

%

09/20/36

$

8,263,406

2,375,000

California

Municipal

Finance

Authority,

Mobile

Home

Park

Revenue

Bonds,

Royal

York

Estates

Projects

Series

2020A

.000

02/15/55

1,799,879

2,980,000

(a) California

Municipal

Finance

Authority,

Revenue

Bonds,

Catalyst

Impact

Fund

LLC

Series

2024-II

.000

01/01/39

3,031,040

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

1,367,125

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

1,831,937

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

423,997

4,600,000

(a) California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Lancer

Educational

Student

Housing

Project,

Refunding

Series

2016A

.000

06/01/36

4,607,759

2,090,000

(a) California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Lancer

Educational

Student

Housing

Project,

Refunding

Series

2016A

.000

06/01/46

1,946,025

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

4,972,929

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

721,821

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

643,978

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

2,011,469

18,795,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Altana

Glendale,

Series

2021A-1

.500

10/01/46

14,680,109

5,000,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Altana

Glendale,

Series

2021A-2

.000

10/01/56

3,699,005

3,375,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Center

City

Anaheim,

Series

2020A

.000

01/01/54

3,018,573

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

1,517,669

5,915,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Link-Glendale,

Series

2021A-2

.000

07/01/56

4,387,261

22,660,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Moda

at

Monrovia

Station,

Social

Series

2021A-2

.000

10/01/56

16,660,604

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

5,962,860

2,000,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Monterrey

Station

Apartments,

Series

2021B

.000

07/01/58

1,303,334

4,000,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Oceanaire-Long

Beach,

Social

Series

2021A-2

.000

09/01/56

2,866,368

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

1,517,457

2,500,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Union

South

Bay,

Series

2021A-2

.000

07/01/56

1,892,100

2,625,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Vineyard

Gardens

Apartments,

Senior

Lien

Series

2021A

.250

10/01/58

1,705,723

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

(continued)

$

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

$

2,922,059

2,000,000

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Wood

Creek

Apartments,

Mezzanine

Lien

Series

2021A-2

.000

12/01/58

1,379,287

2,145,000

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Wood

Creek

Apartments,

Mezzanine

Lien

Series

2021B

.000

12/01/59

1,033,296

6,155,000

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Wood

Creek

Apartments,

Senior

Lien

Series

2021A-1

.000

12/01/49

3,970,722

1,000,000

Independent

Cities

Finance

Authority,

California,

Mobile

Home

Park

Revenue

Bonds,

Palomar

Estates

West,

Refunding

Series

2015

.000

09/15/36

1,001,530

315,000

La

Verne,

California,

Mobile

Home

Park

Revenue

Bonds,

Copacabana

Mobile

Home

Park,

Refunding

Series

2014

.000

06/15/49

314,995

2,110,000

Palmdale

Housing

Authority,

California,

Multifamily

Housing

Revenue

Bonds,

Impression,

La

Quinta,

Park

Vista

&

Summerwood

Apartments,

Series

2015

.250

06/01/45

1,932,896

395,000

Santa

Clara

County

Housing

Authority,

California,

Multifamily

Housing

Revenue

Bonds,

Blossom

River

Project,

Series

1998A,

(AMT)

.500

09/01/39

387,289

TOTAL

HOUSING/MULTIFAMILY

162,069,204

TAX

OBLIGATION/GENERAL

-

9.0%

1,115,000

Denair

Unified

School

District,

Stanislaus

County,

California,

General

Obligation

Bonds,

Series

2002A

-

FGIC

Insured

.000

08/01/26

1,071,635

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

1,073,738

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

5,255,206

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

4,492,411

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

967,902

9,470,000

(b) Pittsburg

Unified

School

District,

Contra

Costa

County,

California,

General

Obligation

Bonds,

Refunding

Series

2016,

(UB)

.000

08/01/44

8,762,872

2,000,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

.000

07/01/33

1,355,627

11,187,234

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

.000

07/01/41

9,592,107

8,890,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

.000

07/01/46

7,311,900

5,750,000

(b) San

Diego

Public

Facilities

Financing

Authority,

California,

Lease

Revenue

Bonds,

Capital

Improvement

Projects,

Series

2021A,

(UB)

.000

10/15/50

5,217,223

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

4,543,159

5,680,000

(b) Santa

Ana

Unified

School

District,

Orange

County,

California,

General

Obligation

Bonds,

2018

Election

Series

2022C,

(UB)

.000

08/01/45

5,331,254

17,585,000

(b) Santa

Ana

Unified

School

District,

Orange

County,

California,

General

Obligation

Bonds,

2018

Election

Series

2022C,

(UB)

.250

08/01/50

16,748,009

12,460,000

(b) Washington

Township

Health

Care

District,

Alameda

County,

California,

General

Obligation

Bonds,

2012

Election

Series

2015B,

(UB)

.000

08/01/45

11,110,297

TOTAL

TAX

OBLIGATION/GENERAL

82,833,340

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### High

#### Yield

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

-

31.3%

$

1,000,000

Adelanto

Community

Facilities

District

Number

2006-2,

San

Bernadino

County,

California,

Special

Tax

Bonds,

Series

2015A

.000

%

09/01/45

$

1,000,032

850,000

Alameda

Community

Facilities

District

No.

22-1,

California,

Alameda

Marina,

Special

Tax

Bonds,

Green

Series

2023

.000

09/01/48

848,646

1,250,000

Alameda

Community

Facilities

District

No.

22-1,

California,

Alameda

Marina,

Special

Tax

Bonds,

Green

Series

2023

.000

09/01/53

1,233,075

330,000

Anaheim

Public

Financing

Authority,

California,

Lease

Revenue

Bonds,

Public

Improvement

Project,

Series

1997C

-

AGM

Insured

.000

09/01/28

296,417

240,000

Anaheim

Public

Financing

Authority,

California,

Lease

Revenue

Bonds,

Public

Improvement

Project,

Series

1997C

-

AGM

Insured

.000

09/01/30

200,470

4,475,000

Anaheim

Public

Financing

Authority,

California,

Lease

Revenue

Bonds,

Public

Improvement

Project,

Series

1997C

-

AGM

Insured

.000

09/01/34

3,162,146

1,985,000

Anaheim

Public

Financing

Authority,

California,

Lease

Revenue

Bonds,

Public

Improvement

Project,

Series

1997C

-

AGM

Insured

.000

09/01/35

1,336,305

1,000,000

Beaumont

Financing

Authority,

California,

Local

Agency

Revenue

Bonds,

Improvement

Area

7A-1,

Series

2015A

.000

09/01/45

998,072

660,000

Beaumont

Unified

School

District,

California,

Special

Tax

Bonds,

Community

Facilities

District

2020-1,

Improvement

Area

Series

2023

.000

09/01/48

663,091

875,000

Beaumont

Unified

School

District,

California,

Special

Tax

Bonds,

Community

Facilities

District

2020-1,

Improvement

Area

Series

2023

.000

09/01/53

865,740

400,000

Beaumont,

California,

Special

Tax

Bonds,

Community

Facilities

District

2016-1

Fairway

Canyon,

Series

2019

.000

09/01/49

399,678

880,000

Beaumont,

California,

Special

Tax

Bonds,

Community

Facilities

District

93-1

Improvement

Area

17D,

Series

2024

.000

09/01/49

887,377

1,900,000

Blythe

Redevelopment

Agency

Successor

Agency,

California,

Tax

Allocation

Bonds,

Redevelopment

Project

1,

Refunding

Series

2015

.000

05/01/38

1,904,017

1,500,000

Brea

Redevelopment

Agency,

Orange

County,

California,

Tax

Allocation

Bonds,

Project

Area

AB,

Series

2003

-

AMBAC

Insured

.000

08/01/28

1,350,526

1,700,000

Brentwood

Infrastructure

Financing

Authority,

California,

Infrastructure

Revenue

Bonds,

Refunding

Subordinated

Series

2014B

.000

09/02/36

1,700,387

3,605,000

California

Community

College

Financing

Authority,

Lease

Revenue

Bonds,

Refunding

Series

2003

-

AMBAC

Insured

.000

06/01/33

2,569,353

3,975,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Bold

Program,

Series

2022C

.250

09/01/52

4,207,080

3,000,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Bold

Program,

Series

2022D

.125

09/01/52

3,152,811

1,000,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Bold

Program,

Series

2024A

.125

09/01/54

988,392

1,070,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Bold

Program,

Series

2024B

.000

09/01/49

1,066,159

545,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Bold

Program,

Series

2024C

.000

09/01/44

549,367

885,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Bold

Program,

Series

2024C

.000

09/01/49

884,287

540,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Bold

Program,

Series

2024C

.700

09/01/54

488,200

1,000,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Bold

Program,

Series

2024C

.000

09/01/54

978,540

1,000,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Bold

Program,

Series

2024D

.000

09/01/49

990,874

1,000,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Bold

Program,

Series

2024D

.000

09/01/54

963,898

1,000,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Community

Facilities

District

2020-06,

Series

2022B

.000

09/01/52

1,043,489

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

2,169,031

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

493,375

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

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

$

338,308

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

773,440

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

1,818,254

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

2,568,787

400,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Community

Facilities

District

2023-5,

Improvement

Area

Series

2023

.250

09/01/43

411,738

1,060,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Community

Facilities

District

2023-5,

Improvement

Area

Series

2023

.625

09/01/53

1,094,085

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

330,538

945,000

California

Statewide

Communities

Development

Authority,

Special

Tax

Bonds,

Community

Facilities

District

2012-02,

Manteca

Lifestyle

Center,

Series

2013A

.000

09/01/33

945,783

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

2,000,402

2,500,000

California

Statewide

Communities

Development

Authority,

Special

Tax

Bonds,

Community

Facilities

District

2015-2

Rio

Bravo,

Series

2015A

.625

09/01/45

2,504,035

1,200,000

California

Statewide

Communities

Development

Authority,

Special

Tax

Bonds,

Community

Facilities

District

2018-02,

McSweeny,

Improvement

Area

Series

2023

.250

09/01/53

1,208,653

340,000

California

Statewide

Communities

Development

Authority,

Special

Tax

Bonds,

Community

Facilities

District

2020-02

Improvement

Area

Atwell,

Series

2022

.250

09/01/52

343,467

475,000

California

Statewide

Communities

Development

Authority,

Special

Tax

Bonds,

Community

Facilities

District

2020-02

Improvement

Area

Atwell,

Series

2024

.000

09/01/49

474,617

650,000

California

Statewide

Communities

Development

Authority,

Special

Tax

Bonds,

Community

Facilities

District

2020-02

Improvement

Area

Atwell,

Series

2024

.000

09/01/54

644,801

2,400,000

California

Statewide

Communities

Development

Authority,

Special

Tax

Bonds,

Community

Facilities

District

2020-02

Improvement

Area

Atwell,

Series

2024

.000

09/01/55

2,354,518

2,000,000

California

Statewide

Communities

Development

Authority,

Special

Tax

Bonds,

Community

Facilities

District

2021-02

Citro,

Series

2023

.000

09/01/53

1,972,920

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

1,622,552

3,510,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Refunding

Series

2015R-1

.000

09/02/35

3,517,609

1,120,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Refunding

Series

2015R-1

.000

09/02/40

1,120,959

465,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2011A

.000

09/02/41

439,881

2,275,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2014A

.000

09/02/43

2,275,149

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### High

#### Yield

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

2,060,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2014B

.000

%

09/02/44

$

2,060,076

480,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2017A

.000

09/02/46

481,177

375,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2017B

.000

09/02/47

376,980

920,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2018B

.000

09/02/48

923,181

725,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2019C

.000

09/02/44

719,613

1,495,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2022C

.125

09/02/42

1,478,434

1,990,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2022C

.375

09/02/52

2,007,213

3,965,000

California

Statewide

Communities

Development

Authority,

Statewide

Infrastructure

Program

Revenue

Bonds,

Series

2020C

.000

09/02/40

3,634,104

1,085,000

Cathedral

City

Public

Financing

Authority,

California,

Tax

Allocation

Bonds,

Merged

Redevelopment

Project,

Series

2000A

-

NPFG

Insured

.000

08/01/33

783,718

740,000

Chino,

California,

Special

Tax

Bonds,

Community

Facilities

District

2003-3

Improvement

Area

10,

Series

2024. 5

.000

09/01/54

718,672

315,000

Compton

Public

Finance

Authority,

California,

Lease

Revenue

Bonds,

Refunding

&

Various

Capital

Projects,

Series

2008

-

AMBAC

Insured

.250

09/01/27

315,230

210,000

Compton

Public

Finance

Authority,

California,

Lease

Revenue

Bonds,

Refunding

&

Various

Capital

Projects,

Series

2008

-

AMBAC

Insured

.000

09/01/32

210,048

670,000

Corona,

California,

Special

Tax

Bonds,

Community

Facilities

District

2002-1

Dos

Lagos

Improvement

Area

1,

Refunding

Series

2017

.000

09/01/37

681,929

345,000

Corona,

California,

Special

Tax

Bonds,

Community

Facilities

District

2018-2

Sierra

Bella,

Series

2022A

.000

09/01/51

345,060

625,000

Dixon,

California,

Special

Tax

Bonds,

Community

Facilities

District

2019-1

Homestead,

Improvement

Area

2,

Series

2024

.000

09/01/46

629,094

1,000,000

Dixon,

California,

Special

Tax

Bonds,

Community

Facilities

District

2019-1

Homestead,

Improvement

Area

2,

Series

2024

.000

09/01/54

984,490

1,000,000

Dublin

Community

Facilities

District

2015-1

Dublin

Crossing,

California,

Special

Tax

Bonds, Improvement

Area

4,

Series

2022

.500

09/01/47

1,033,907

1,000,000

Dublin

Community

Facilities

District

2015-1

Dublin

Crossing,

California,

Special

Tax

Bonds, Improvement

Area

4,

Series

2022

.500

09/01/51

1,025,368

1,250,000

Dublin

Community

Facilities

District

2015-1

Dublin

Crossing,

California,

Special

Tax

Bonds, Improvement

Area

5,

Series

2023

.375

09/01/51

1,271,578

6,300,000

Dublin

Community

Facilities

District

2015-1

Dublin

Crossing,

California,

Special

Tax

Bonds,

Improvement Area

2,

Series

2019

.000

09/01/39

6,420,497

250,000

El

Dorado

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2005-2,

Series

2006

.100

09/01/36

250,596

1,000,000

Elk

Grove

Finance

Authority,

California,

Special

Tax

Revenue

Bonds,

Series

2024

.000

09/01/44

1,019,195

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

1,502,142

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

1,014,503

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

1,395,164

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

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

$

1,897,389

430,000

Fairfield,

California,

Special

Tax

Bonds,

Community

Facilities

District

2007-1

Fairfield

Commons

Project,

Series

2008

.875

09/01/38

432,815

1,000,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Folsom

Community

Facilities

District

18,

Folsom

Plan

Area-Area-Wide

Improvements

and

Services,

Series

2024

.000

09/01/44

1,008,014

1,200,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Folsom

Community

Facilities

District

18,

Folsom

Plan

Area-Area-Wide

Improvements

and

Services,

Series

2024

.000

09/01/49

1,175,917

1,250,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Folsom

Community

Facilities

District

Russell

Ranch,

Series

2020

.125

09/01/47

1,267,162

1,300,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Folsom

Community

Facilities

District

Russell

Ranch,

Series

2020

.125

09/01/52

1,308,994

1,075,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Folsom

Community

Facilities

District

Folsom

Ranch

Improvement

Area

1,

Series

2020

.000

09/01/45

945,951

4,000,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Folsom

Community

Facilities

District

Folsom

Ranch

Improvement

Area

1,

Series

2022

.000

09/01/52

3,965,189

400,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Folsom

Community

Facilities

District

Folsom

Ranch

Improvement

Area

2,

Series

2024

.000

09/01/49

395,799

460,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Folsom

Community

Facilities

District

Folsom

Ranch

Improvement

Area

2,

Series

2024

.000

09/01/53

449,726

1,000,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Folsom

Community

Facilities

District

Folsom

Ranch

Improvement

Area

4,

Series

2024

.000

09/01/49

985,381

1,000,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Folsom

Community

Facilities

District

Folsom

Ranch

Improvement

Area

4,

Series

2024

.000

09/01/54

969,716

1,000,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Series

2022

.000

09/01/52

988,381

500,000

Folsom,

California,

Special

Tax

Bonds,

Community

Facilities

District

Islands

at

Parkshore

Improvement

Area

1,

Series

2018

.000

09/01/43

440,386

375,000

Fontana,

California, Special

Tax

Bonds,

Community

Facilities

District

106,

Mountain

View,

Series

2022

.250

09/01/38

364,316

500,000

Fontana,

California, Special

Tax

Bonds,

Community

Facilities

District

106,

Mountain

View,

Series

2022

.500

09/01/43

475,818

3,000,000

Fontana,

California,

Special

Tax

Bonds,

Community

Facilities

District

The

Gardens

Phase

One,

Series

2024

.000

09/01/49

2,993,402

2,620,000

Fontana,

California,

Special

Tax

Bonds,

Community

Facilities

District

The

Gardens

Phase

One,

Series

2024

.000

09/01/54

2,583,281

400,000

Fontana,

California,

Special

Tax

Bonds,

Narra

Hills

Community

Facilities

District

109,

Refunding

Series

2024

.000

09/01/49

399,120

4,040,000

Golden

State

Tobacco

Securitization

Corporation,

California,

Tobacco

Settlement

Asset-Backed

Revenue

Bonds,

Series

2022A-1

.000

06/01/51

3,953,697

1,000,000

Hemet

Unified

School

District,

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2021-7,

Series

2023

.000

09/01/43

1,005,729

1,000,000

Hemet

Unified

School

District,

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2021-7,

Series

2023

.000

09/01/53

992,387

1,030,000

Imperial,

California,

Special

Tax

Bonds,

Community

Facilities

District

2005-1

Springfield,

Series

2015A

.000

09/01/36

1,031,976

155,000

Indio

Redevelopment

Agency,

California,

Tax

Allocation

Bonds,

Merged

Area

Redevelopment

Project,

Subordinate

Lien

Refunding

Series

2008A

.250

08/15/28

155,361

3,380,000

Jurupa

Unified

School

District,

California,

Special

Tax

Bonds,

Community

Facilities

District

9,

Series

2015A

.000

09/01/45

3,380,526

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### High

#### Yield

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

1,220,000

Lake

Elsinore

Unified

School

District,

California,

Special

Tax

Bonds,

Community

Facilities

District

2004-2,

Series

2005

.350

%

09/01/35

$

1,224,045

475,000

Lake

Elsinore,

California,

Special

Tax

Bonds,

Community

Facilities

District

2006-1

Summerly

Improvement

Area

KK,

Series

2021

.000

09/01/42

423,414

600,000

Lammersville

Joint

Unified

School

District,

San

Joaquin

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2014-

Improvement

Area

Mountain

House

School

Facilities,

Series

2017

.000

09/01/47

599,999

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

599,897

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

937,155

925,000

Lincoln,

California,

Special

Tax

Bonds,

Community

Facilities

District

2005-1

Sorrento

Project,

Series

2014A

.000

09/01/39

925,167

1,815,000

Lincoln,

California,

Special

Tax

Bonds,

Community

Facilities

District

2005-1

Sorrento

Project,

Series

2014A

.000

09/01/43

1,815,033

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

1,758,697

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

8,802,456

2,022,000

Manteca

Unified

School

District,

San

Joaquin

County,

California,

Certificates

of

Participation,

Series

2004

-

NPFG

Insured

.000

09/15/33

1,477,023

450,000

Marina

Redevelopment

Agency

Successor

Agency,

California,

Housing

Tax

Allocation

Bonds,

Series

2018B

.000

09/01/38

457,132

3,000,000

Matching

Fund

Special

Purpose

Securitization

Corporation,

Virgin

Islands,

Revenue

Bonds,

Series

2022A

.000

10/01/39

2,880,000

500,000

Menifee

Union

School

District,

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2006-1,

Series

2014

.125

09/01/39

469,939

500,000

Menifee

Union

School

District,

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2006-1,

Series

2014

.250

09/01/44

453,945

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

1,340,773

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

2,021,604

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

914,116

750,000

Menifee,

California,

Special

Tax

Bonds,

Community

Facilities

District

2021-1,

Banner

Park

Series

2023A

.000

09/01/53

729,985

700,000

Menifee,

California,

Special

Tax

Bonds,

Community

Facilities

District

2022-1,

Quartz

Ranch

Series

2023A

.000

09/01/48

698,885

1,000,000

Menifee,

California,

Special

Tax

Bonds,

Community

Facilities

District

2022-1,

Quartz

Ranch

Series

2023A

.000

09/01/53

973,313

2,095,000

Menifee,

California,

Special

Tax

Bonds,

Community

Facilities

District

2023-1,

Rockport

Ranch

Series

2024

.000

09/01/49

2,067,243

970,000

Moreno

Valley

Unified

School

District,

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2015-

2,

Series

2019

.000

09/01/48

971,332

825,000

Murrieta,

California,

Special

Tax

Bonds,

Community

Facilities

District

2005-5

Golden

City

Improvement

Area

A,

Series

2017

.000

09/01/46

827,892

980,480

(c) Northstar

Community

Services

District,

California,

Special

Tax

Bonds,

Community

Facilities

District

1,

Refunding

Series

2005

.908

09/01/28

264,729

2,926,584

(c) Northstar

Community

Services

District,

California,

Special

Tax

Bonds,

Community

Facilities

District

1,

Refunding

Series

2005

.943

09/01/36

790,178

1,250,000

Oceanside,

California,

Special

Tax

Bonds,

Community

Facilities

District

2006-1,

Pacific

Coast

Business

Park,

Series

2017

.000

09/01/38

1,263,719

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

1,200,000

Ontario,

California,

Special

Tax

Bonds,

Community

Facilities

District

New

Haven

Facilities

-

Area

A,

Series

2017

.000

%

09/01/47

$

1,201,766

845,000

Ontario,

California,

Special

Tax

Bonds,

Community

Facilities

District

Parklane

Facilities,

Series

2022

.000

09/01/53

833,559

350,000

Orange

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2021-1

Rienda,

Series

2022A

.000

08/15/42

356,489

3,400,000

Orange

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2021-1

Rienda,

Series

2022A

.000

08/15/47

3,427,077

500,000

Orange

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2023-1

Rienda

Phase

2B,

Series

2023A

.500

08/15/53

516,261

275,000

Palm

Desert,

California,

Special

Tax

Bonds,

Community

Facilities

District

2021-1

University

Park,

Series

2021

.000

09/01/31

260,590

1,230,000

Palmdale

Community

Redevelopment

Agency,

California,

Tax

Allocation

Bonds,

Merged

Redevelopment

Project

Areas,

Series

2002

-

AMBAC

Insured

.000

12/01/30

1,016,271

2,990,000

Pittsburg

Redevelopment

Agency,

California,

Tax

Allocation

Bonds,

Los

Medanos

Community

Development

Project,

Series

1999

-

AMBAC

Insured

.000

08/01/27

2,779,487

2,610,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

.536

07/01/53

2,261,693

2,670,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

.784

07/01/58

2,393,675

1,200,000

Rancho

Cardova,

California,

Special

Tax

Bonds,

Community

Facilities

District

2005-1

Sunridge

North

Douglas

Series

2015

.000

09/01/40

1,200,955

1,590,000

Rancho

Cordova,

California,

Special

Tax

Bonds,

Communities

Facilities

District

2014-1

Montelena,

Series

2022

.000

09/01/42

1,608,369

250,000

Rancho

Cordova,

California,

Special

Tax

Bonds,

Community

Facilities

District

2022-1

Arista

Del

Sol,

Improvement

Area

Series

2023

.000

09/01/38

258,141

525,000

Rancho

Cordova,

California,

Special

Tax

Bonds,

Community

Facilities

District

2022-1

Arista

Del

Sol,

Improvement

Area

Series

2023

.125

09/01/43

534,543

1,300,000

Rancho

Cordova,

California,

Special

Tax

Bonds,

Community

Facilities

District

2022-1

Arista

Del

Sol,

Improvement

Area

Series

2023

.375

09/01/53

1,322,084

1,400,000

Rancho

Mirage,

California,

Special

Tax

Bonds,

Community

Facilities

District

Section

31,

Improvement

Area

Series

2024A

.000

09/01/54

1,378,285

1,755,000

Redwood

City

Redevelopment

Agency,

California,

Tax

Allocation

Bonds,

Project

Area

2,

Series

2003A

-

AMBAC

Insured

.000

07/15/29

1,514,902

1,260,000

Redwood

City

Redevelopment

Agency,

California,

Tax

Allocation

Bonds,

Project

Area

2,

Series

2003A

-

AMBAC

Insured

.000

07/15/31

1,006,284

1,185,000

Rio

Vista,

California,

Special

Tax

Bonds,

Community

Faciliites

District

2018-1

Liberty

Community,

Series

2018-1

.000

09/01/48

1,189,800

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

1,110,259

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

997,346

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

1,530,670

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

1,906,376

1,000,000

River

Islands

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

2019-1

Phase

Public

Improvements,

Series

2019

.000

09/01/46

828,673

1,295,000

Riverside

County

Asset

Leasing

Corporation,

California,

Leasehold

Revenue

Bonds,

Riverside

County

Hospital

Project,

Series

1997

-

NPFG

Insured

.000

06/01/26

1,254,372

2,115,000

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

03-1

Newport

Road,

Series

2014

.000

09/01/30

2,120,768

1,000,000

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

07-2

Clinton

Keith,

Series

2017

.000

09/01/42

1,001,554

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### High

#### Yield

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

535,000

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

07-2

Clinton

Keith,

Series

2017

.000

%

09/01/45

$

535,019

1,500,000

Riverside

Unified

School

District,

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

40,

Series

2025A

.000

09/01/45

1,491,448

2,375,000

Riverside

Unified

School

District,

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

40,

Series

2025A

.000

09/01/50

2,334,721

2,000,000

Riverside

Unified

School

District,

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

40,

Series

2025A

.000

09/01/55

1,944,126

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

708,529

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

775,987

815,000

Rocklin,

Placer

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

Whitney

Ranch,

Series

2015

.000

09/01/39

816,149

935,000

Rohnert

Park

Community

Development

Agency,

California,

Tax

Allocation

Bonds,

Series

1999

.000

08/01/33

690,132

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

2,635,298

480,000

Roseville,

California,

Special

Tax

Bonds,

Community

Facilities

District

Creekview

Improvement

Area

2,

Series

2023

.000

09/01/43

483,341

1,500,000

Roseville,

California,

Special

Tax

Bonds,

Community

Facilities

District

Creekview

Improvement

Area

2,

Series

2023

.250

09/01/53

1,514,238

1,050,000

Roseville,

California,

Special

Tax

Bonds,

Community

Facilities

District

Hewlett

Parkard

Campus

Oaks,

Series

2016

.500

09/01/46

1,056,941

1,000,000

Roseville,

California,

Special

Tax

Bonds,

Community

Facilities

District

Ranch

at

Sierra

Vista,

Public

Facilities

Series

2023

.000

09/01/43

1,007,753

1,150,000

Roseville,

California,

Special

Tax

Bonds,

Community

Facilities

District

Ranch

at

Sierra

Vista,

Public

Facilities

Series

2023

.000

09/01/53

1,134,429

625,000

Roseville,

California,

Special

Tax

Bonds,

Community

Facilities

District

Villages

at

Sierra

Vista,

Series

2022

.500

09/01/52

561,705

1,100,000

Roseville,

California,

Special

Tax

Bonds,

Community

Facilities

District

Westbrook,

Series

2014

.000

09/01/34

1,100,845

1,500,000

(a) Roseville,

California,

Special

Tax

Bonds,

Community

Facilities

District

Fiddyment

Ranch

Public

Facilities,

Series

2017

.000

09/01/47

1,503,156

2,755,000

Roseville,

California,

Special

Tax

Bonds,

SVSP

Westpark-Federico

Community

Facilities

District

1,

Series

2022

.000

09/01/52

2,731,024

230,000

Sabal

Palm

Community

Development

District,

Florida,

Special

Assessment

Bonds,

Series

2016

.500

11/01/46

230,467

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)

.817

12/01/33

2,288,844

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

3,314,786

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

3,268,592

250,000

Sacramento,

California,

Special

Tax

Bonds,

Community

Facilities

District

05-1

College

Square,

Series

2007

.900

09/01/37

251,027

710,000

(a) Sacramento,

California,

Special

Tax

Bonds,

North

Natomas

Community

Facilities

District

7,

Series

2017-01

.000

09/01/37

721,878

1,900,000

(a) Sacramento,

California,

Special

Tax

Bonds,

North

Natomas

Community

Facilities

District

7,

Series

2017-01

.000

09/01/47

1,902,797

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

1,282,325

345,000

San

Bernardino

County

Financing

Authority,

California,

Revenue

Bonds,

Courthouse

Facilities

Project,

Series

2007

-

NPFG

Insured

.500

06/01/37

352,750

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

550,424

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

905,000

(a) San

Francisco

City

and

County

Infrastructure

and

Revitalization

Financing

District

Treasure

Island,

California,

Tax

Increment

Revenue

Bonds,

Facilities

Increment

Series

2023A

.000

%

09/01/43

$

846,932

1,525,000

(a) San

Francisco

City

and

County

Infrastructure

and

Revitalization

Financing

District

Treasure

Island,

California,

Tax

Increment

Revenue

Bonds,

Facilities

Increment

Series

2023A

.500

09/01/53

1,461,583

1,500,000

(a) San

Francisco

City

and

County

Infrastructure

and

Revitalization

Financing

District

Treasure

Island,

California,

Tax

Increment

Revenue

Bonds,

Housing

Increment

Series

2022B

.000

09/01/52

1,353,833

795,000

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

795,404

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

1,249,199

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

1,495,899

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

Series

2023C

.750

09/01/53

1,031,654

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

1,044,867

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

1,794,922

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

1,178,092

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

970,622

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

2,090,591

5,000,000

Stockton,

California,

Special

Tax

Revenue

Bonds,

Community

Facilities

District

19-1,

Cannery

Park

II,

Series

2022

.000

09/01/52

4,884,204

5,400,000

Sulphur

Springs

Union

School

District,

California,

Special

Tax

Bonds,

Community

Facilities

District

2014-1,

Series

2022

.500

09/01/52

4,788,532

1,045,000

(a) Temecula

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

16-01,

Series

2017

.250

09/01/47

1,071,529

1,750,000

Temecula

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

16-01,

Series

2023A

.000

09/01/49

1,748,590

400,000

Temecula

Valley

Unified

School

District,

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2011-

1,

Series

2014

.250

09/01/44

355,881

1,195,000

Tracy,

California,

Special

Tax

Bonds,

Community

Facilities

District

2016-1

Tracy

Hills, Improvement

Area

1,

Series

2019

.000

09/01/49

1,172,641

2,700,000

Tracy,

California,

Special

Tax

Bonds,

Community

Facilities

District

2016-1

Tracy

Hills, Improvement

Area

2,

Series

2023

.875

09/01/53

2,826,815

1,000,000

Val

Verde

Unified

School

District,

California,

Special

Tax

Bonds,

Community

Facilities

District

2018-2,

Stratford

Improvement

Area

Series

2023

.000

09/01/54

990,492

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

700,031

1,000,000

(a) Virgin

Islands

Public

Finance

Authority,

Gross

Receipts

Taxes

Loan

Note,

Refunding

Series

2014C

.000

10/01/39

935,360

350,000

West

Patterson

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

2015-1

Arambel-KDN,

Refunding

Series

2015

.250

09/01/35

351,032

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### High

#### Yield

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

785,000

West

Patterson

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

2015-1

Arambel-KDN,

Refunding

Series

2015

.250

%

09/01/45

$

785,596

2,805,000

West

Sacramento,

California,

Special

Tax

Bonds,

Community

Facilities

District

Bridge

District,

Refunding

Series

2016

.000

09/01/40

2,814,329

5,605,000

West

Sacramento,

California,

Special

Tax

Bonds,

Community

Facilities

District

Bridge

District,

Series

2017

.000

09/01/47

5,533,149

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

1,780,674

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

1,411,440

290,000

(c) Yorkville

United

City

Business

District,

Illinois,

Storm

Water

and

Water

Improvement

Project

Revenue

Bonds,

Series

2007

.800

01/01/27

107,300

TOTAL

TAX

OBLIGATION/LIMITED

287,270,417

TRANSPORTATION

-

7.3%

10,845,000

(b) Foothill/Eastern

Transportation

Corridor

Agency,

California,

Toll

Road

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021A,

(UB)

.000

01/15/46

10,204,423

5,000,000

Foothill/Eastern

Transportation

Corridor

Agency,

California,

Toll

Road

Revenue

Bonds,

Refunding

Series

2013A

-

AGM

Insured

.000

01/15/37

3,181,388

250,000

Guam

Port

Authority,

Port

Revenue

Bonds,

Private

Activity

Series

2018B,

(AMT)

.000

07/01/36

253,226

400,000

Guam

Port

Authority,

Port

Revenue

Bonds,

Private

Activity

Series

2018B,

(AMT)

.000

07/01/37

403,910

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

9,902,854

375,174

Puerto

Rico

Highway

and

Transportation

Authority

Highway

Revenue

Bonds

Series

2022

.250

07/01/38

375,260

10,000,000

(b) San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

International

Senior

Series

2023B,

(AMT),

(UB)

.250

07/01/58

10,175,122

5,000,000

(b) San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Subordinate

Series

2021B,

(AMT),

(UB)

.000

07/01/51

4,923,974

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

21,034,724

5,165,000

(b) San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2018D,

(AMT),

(UB)

.000

05/01/48

5,060,490

100,000

San

Joaquin

Hills

Transportation

Corridor

Agency,

Orange

County,

California,

Toll

Road

Revenue

Bonds,

Refunding

Junior

Lien

Series

2014B

.250

01/15/49

100,012

50,000

San

Joaquin

Hills

Transportation

Corridor

Agency,

Orange

County,

California,

Toll

Road

Revenue

Bonds,

Refunding

Series

1997A

-

NPFG

Insured

.000

01/15/31

40,587

1,200,000

(a) West

Indian

Company

Limited,

Virgin

Islands,

Port

Facilities

Revenue

Bonds

WICO

Financing

Series

2022B,

(AMT)

.500

04/01/52

1,122,654

TOTAL

TRANSPORTATION

66,778,624

U.S.

GUARANTEED

-

0.2%

(e) 2,320,000

Anaheim

Public

Financing

Authority,

California,

Lease

Revenue

Bonds,

Public

Improvement

Project,

Series

1997C

-

AGM

Insured,

(ETM)

.000

09/01/35

1,628,702

40,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Aspire

Public

Schools,

Refunding

Series

2016,

(Pre-refunded

8/01/25)

.000

08/01/46

40,105

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

275,100

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

275,100

TOTAL

U.S.

GUARANTEED

2,219,007

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

-

21.9%

$

27,110,000

(b) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2021B-1,

(Mandatory

Put

8/01/31),

(UB)

.000

%

02/01/52

$

26,804,416

6,000,000

(b) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2023E-1,

(Mandatory

Put

3/01/31),

(UB)

.000

02/01/54

6,276,275

17,680,000

(b) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2023F,

(Mandatory

Put

11/01/30),

(UB)

.500

10/01/54

18,801,485

44,950,000

(b) California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2023G,

(Mandatory

Put

4/01/30),

(UB)

.250

11/01/54

47,171,753

1,100,000

(a) California

Pollution

Control

Financing

Authority

Water

Furnishing

Revenue

Bonds

(Poseidon

Resources

(Channelside)

LP

Desalination

Project),

Series

2023

(AMT),

(AMT)

.000

11/21/45

1,088,711

48,170,000

(b) Central

Valley

Energy

Authority,

California,

Commodity

Supply

Revenue

Bonds,

Series

2025,

(Mandatory

Put

8/01/35),

(UB)

.000

12/01/55

50,421,114

25,000

Long

Beach

Bond

Finance

Authority,

California,

Natural

Gas

Purchase

Revenue

Bonds,

Series

2007A

.500

11/15/28

26,322

7,185,000

(b) M-S-R

Energy

Authority,

California,

Gas

Revenue

Bonds,

Citigroup

Prepay

Contracts,

Series

2009C,

(UB)

.000

11/01/34

8,463,691

295,000

Pico

Rivera

Water

Authority,

California,

Revenue

Bonds,

Refunding

Water

System

Project,

Series

1999A

-

NPFG

Insured

.500

05/01/29

307,753

3,000,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A

.000

07/01/47

2,846,710

5,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021B

.000

07/01/37

5,059

8,000,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Federally

Taxable

Build

America

Bonds,

Series

2010YY

.125

07/01/40

3,169,742

1,140,000

Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Refunding

National

Series

2007VV

-

NPFG

Insured

.250

07/01/34

1,108,690

1,030,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Refunding

Series

2010DDD

.625

01/01/26

444,047

1,000,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Refunding

Series

2010DDD

.000

01/01/26

411,213

85,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Series

2003NN

.500

01/01/26

34,441

3,000,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Series

2010AAA

.250

07/01/27

1,219,570

1,020,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Series

2010AAA

.250

07/01/31

417,541

275,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Series

2010ZZ

.250

07/01/25

113,861

165,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Series

2010ZZ

.000

01/01/26

67,858

1,695,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Series

2010ZZ

.000

01/01/26

707,644

1,000,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Series

2010ZZ

.250

07/01/26

421,223

2,925,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Series

2013A

.050

01/01/26

1,212,941

1,415,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Series

2013A

.800

07/01/29

591,711

2,000,000

(c) Puerto

Rico

Electric

Power

Authority,

Power

Revenue

Bonds,

Taxable

Series

2010BBB

.400

07/01/28

816,468

25,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Refunding

Series

2005SS

.625

07/01/30

10,643

1,950,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2007TT

.000

07/01/32

800,889

915,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2008WW

.375

01/01/26

372,643

1,000,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2008WW

.250

07/01/33

410,024

295,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2008WW

.500

07/01/38

119,727

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### High

#### Yield

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

500,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2010AAA

.250

%

07/01/25

$

203,505

135,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2010CCC

.000

07/01/26

55,521

200,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2010CCC

.800

07/01/27

85,799

1,445,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2010XX

.625

07/01/25

605,026

95,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2010XX

.250

07/01/26

38,957

1,000,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2010XX

.250

07/01/35

415,603

220,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2013A

.250

07/01/30

85,730

4,430,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2013A

.750

07/01/36

1,749,060

5,385,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Series

2013A

.000

07/01/42

2,320,653

2,380,000

(c) Puerto

Rico

Electric

Power

Authority,

Revenue

Bonds,

Taxable

Series

2010EEE

.950

07/01/30

953,313

11,135,000

(b) 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

12,072,774

1,000,000

Southern

California

Public

Power

Authority,

Natural

Gas

Project

Revenue

Bonds,

Series

2007A

.000

11/01/29

1,031,122

220,000

Southern

California

Public

Power

Authority,

Natural

Gas

Project

Revenue

Bonds,

Series

2007A

.000

11/01/33

230,677

2,190,000

(a) Virgin

Islands

Water

and

Power

Authority,

Electric

System

Revenue

Bonds,

Bond

Anticipation

Notes,

Series

2024A

.000

07/01/26

2,183,432

150,000

(a) Virgin

Islands

Water

and

Power

Authority,

Electric

System

Revenue

Bonds,

Refunding

Series

2024B

.250

07/01/26

149,951

5,020,000

(b) West

County

Facilities

Financing

Authority,

California,

Wastewater

Revenue

Bonds,

Green

Series

2021,

(UB)

.000

06/01/46

4,627,352

TOTAL

UTILITIES

201,472,640

TOTAL

MUNICIPAL

BONDS

(Cost

$1,184,233,993)

1,130,966,447

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$1,184,233,993)

1,130,966,447

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

-

2.4%

X

21,975,000

REPURCHASE

AGREEMENTS

-

2.4%

X

–

$

21,975,000

(f) Fixed

Income

Clearing

Corporation

.300

06/02/25

$

21,975,000

TOTAL

REPURCHASE

AGREEMENTS

(Cost

$21,975,000)

21,975,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$21,975,000)

21,975,000

TOTAL

INVESTMENTS

-

125.6%

(Cost

$1,206,208,993)

1,152,941,447

FLOATING

RATE

OBLIGATIONS

-

(27.7)%

(254,005,000)

OTHER

ASSETS

&

LIABILITIES,

NET

-

2.1%

18,709,261

NET

ASSETS

-

100%

$

917,645,708

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.

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

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

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

reporting

period,

the

aggregate

value

of

these

securities

is

$363,516,098

or

31.5%

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.

(d) For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. (e) Backed

by

an

escrow

or

trust

containing

sufficient

U.S.

Government

or

U.S.

Government

agency

securities,

which

ensure

the

timely

payment

of

principal

and

interest.

(f) Agreement

with

Fixed

Income

Clearing

Corporation,

4.300%

dated

5/30/25

to

be

repurchased

at

$21,982,874

on

6/2/25,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

4.125%

and

maturity

date

10/31/31,

valued

at

$22,414,588.

California

High

Yield

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

1,130,928,646

$

37,801

$

1,130,966,447

Short-Term

Investments:

Repurchase

Agreements

–

21,975,000

–

21,975,000

Total

$

–

$

1,152,903,646

$

37,801

$

1,152,941,447

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025

#### California

#### Municipal

#### Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

94.3%

X

1,534,204,228

MUNICIPAL

BONDS

-

94.3%

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

$

314,484

TOTAL

CONSUMER

STAPLES

314,484

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

7.0%

2,815,000

California

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

the

Pacific,

Refunding

Series

2015

.000

11/01/36

2,823,344

2,040,000

California

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

the

Pacific,

Series

2023

.000

11/01/43

2,137,862

3,240,000

California

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

the

Pacific,

Series

2023

.250

11/01/48

2,985,413

11,780,000

California

Enterprise

Development

Authority,

Revenue

Bonds,

Castilleja

School

Foundation

Series

2024

.000

06/01/54

10,124,828

2,435,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

California

Science

Center

Phase

III

Project,

Green

Series

2021B

.000

05/01/41

2,277,469

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

2,627,478

2,000,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

UCSF

Clinical

and

Life

Sciences

Building,

Series

2025

.250

05/15/59

2,082,814

500,000

California

Municipal

Finance

Authority

Charter

School

Revenue

Bonds,

John

Adams

Academies,

Inc.

Project,

Series

2015A

.250

10/01/45

468,321

1,275,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Goodwill

Industries

of

Sacramento

Valley

&

Northern

Nevada

Project,

Series

2014A

.000

01/01/35

1,085,625

8,595,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Linxs

APM

Project,

Senior

Lien

Series

2018A,

(AMT)

.000

12/31/47

7,137,099

6,980,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Linxs

APM

Project,

Senior

Lien

Series

2018A,

(AMT)

.000

12/31/47

6,673,651

445,000

(a) California

School

Finance

Authority

Charter

School

Revenue

Bonds,

Bright

Star

Schools

-

Obligated

Group,

Series

2017

.000

06/01/27

446,564

250,000

(a) California

School

Finance

Authority

Charter

School

Revenue

Bonds,

Bright

Star

Schools

-

Obligated

Group,

Series

2017

.000

06/01/54

220,115

2,935,000

(a) California

School

Finance

Authority

Charter

School

Revenue

Bonds,

Fenton

Schools

-

Obligated

Group,

Series

2020A

.000

07/01/50

2,735,351

1,045,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Aspire

Public

Schools,

Refunding

Series

2015A

.000

08/01/40

1,011,876

1,100,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Aspire

Public

Schools,

Refunding

Series

2015A

.000

08/01/45

1,021,429

450,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Aspire

Public

Schools,

Refunding

Series

2016

.000

08/01/36

448,299

460,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Aspire

Public

Schools,

Refunding

Series

2016

.000

08/01/46

428,691

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

1,529,095

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

749,364

235,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Community

High

School

Foundation

Inc,

Series

2017

.000

06/01/47

211,089

410,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Downtown

College

Prep

-

Obligated

Group,

Series

2016

.000

06/01/46

246,000

500,000

(a) 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

375,918

720,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Lifeline

Education

Charter

School

Project,

Series

2020A

.000

07/01/55

662,028

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

550,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Partnerships

to

Uplift

Communities

Project,

Refunding

Social

Series

2023

.500

%

08/01/43

$

559,911

285,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Rocketship

Education

?

Obligated

Group,

Series

2016A

.000

06/01/36

284,414

280,000

(a) California

School

Finance

Authority,

Charter

School

Revenue

Bonds,

Stem

Preparatory

Schools

?

Obligated

Group,

Series

2023A

.000

06/01/43

272,436

750,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2015A

.000

07/01/45

745,771

830,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Alliance

for

College-Ready

Public

Schools

Project,

Series

2016A

.000

07/01/46

824,621

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

5,237,006

680,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Granada

Hills

Charter

High

School

Obligated

Group,

Series

2021A

.000

07/01/48

564,549

545,000

(a) California

School

Finance

Authority,

School

Facility

Revenue

Bonds,

Value

Schools,

Refunding

Series

2023A

.000

07/01/40

543,480

15,325,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2017A

.000

11/01/47

15,458,829

3,100,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2018A

.000

11/01/43

3,161,836

15,665,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2018A

.000

11/01/48

15,839,983

5,210,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2019A

.000

11/01/49

5,276,571

1,120,000

California

State

University,

Systemwide

Revenue

Bonds,

Series

2024A

.000

11/01/55

953,738

1,115,000

San

Diego

County,

California,

Limited

Revenue

Obligations,

Sanford

Burnham

Prebys

Medical

Discovery

Institute,

Series

2015A

.000

11/01/28

1,123,516

11,620,000

University

of

California,

General

Revenue

Bonds,

Limited

Project

Series

2018O

.000

05/15/43

11,835,453

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

113,491,837

FINANCIALS

-

0.0%

7,048

Cofina

Class

Trust

Tax-Exempt

Class

2047,

Puerto

Rico.

Unit

Exchanged

From

Cusip

74529JAN5

.000

08/01/47

2,045

TOTAL

FINANCIALS

2,045

HEALTH

CARE

-

15.9%

17,205,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2016B

.000

11/15/46

17,154,820

3,815,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2017A

.000

11/15/48

3,803,289

1,225,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Series

2018A

.000

11/15/36

1,258,603

11,100,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Series

2018A

.000

11/15/48

11,065,925

7,000,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Cedars-Sinai

Health

System,

Series

2021A

.000

08/15/48

6,280,709

3,850,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Children's

Hospital

Los

Angeles,

Series

2017A

.000

08/15/47

3,701,742

7,850,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

City

of

Hope

National

Medical

Center,

Series

2019

.000

11/15/45

7,027,804

2,700,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

City

of

Hope

National

Medical

Center,

Series

2019

.000

11/15/49

2,612,402

10,750,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A

.000

04/01/40

9,998,532

3,175,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A

.000

04/01/45

2,868,333

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

35,085,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A

.000

%

04/01/49

$

29,918,548

6,830,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2024A

.000

12/01/54

6,848,260

1,825,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Providence

Health

&

Services,

Series

2014B

.000

10/01/44

1,824,916

32,335,000

California

Infrastructure

and

Economic

Development

Bank,

Revenue

Bonds,

Adventist

Health

Energy

Projects,

Series

2024A

.250

07/01/54

31,990,357

250,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

Eisenhower

Medical

Center,

Refunding

Series

2017A

.000

07/01/47

242,945

1,810,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

.250

11/01/36

1,815,459

11,500,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

.250

11/01/41

10,856,888

6,750,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

.000

11/01/47

5,964,241

3,810,000

California

Municipal

Finance

Authority,

Revenue

Bonds,

NorthBay

Healthcare

Group,

Series

2017A

.250

11/01/47

3,505,665

5,300,000

California

Municipal

Finance

Authority,

Reveue

Bonds,

Community

Medical

Centers,

Series

2017A

.000

02/01/47

5,232,214

2,950,000

California

Municipal

Financing

Authority,

Certificates

of

Participation,

Palomar

Health,

Series

2022A

.250

11/01/52

2,977,137

2,000,000

California

Public

Finance

Authority,

Revenue

Bonds,

Henry

Mayo

Newhall

Hospital,

Series

2017

.000

10/15/47

1,890,160

15,050,000

California

Public

Finance

Authority,

Revenue

Bonds,

Sharp

HealthCare,

Series

2017A

.000

08/01/47

15,078,494

2,500,000

California

Statewide

Communities

Development

Authority,

California,

Redlands

Community

Hospital,

Revenue

Bonds,

Series

2016

.000

10/01/46

2,426,784

6,000,000

California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2014A

.250

12/01/44

5,835,779

20,750,000

(a) California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2016A

.250

12/01/56

20,148,528

8,400,000

(a) California

Statewide

Communities

Development

Authority,

California,

Revenue

Bonds,

Loma

Linda

University

Medical

Center,

Series

2018A

.500

12/01/58

8,194,946

1,305,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Adventist

Health

System/West,

Series

2015A

.000

03/01/35

1,309,304

4,650,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Adventist

Health

System/West,

Series

2018A

.000

03/01/48

4,509,841

10,300,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

John

Muir

Health,

Series

2024A

.250

12/01/54

10,553,232

10,000,000

California

Statewide

Communities

Development

Authority,

Revenue

Bonds,

Marin

General

Hospital,

Green

Series

2018A

.000

08/01/45

8,373,882

1,000,000

California

Statewide

Community

Development

Authority,

Certificates

of

Participation,

Methodist

Hospital

of

Southern

California,

Series

2018

.000

01/01/48

1,006,185

1,365,000

California

Statewide

Community

Development

Authority,

Health

Revenue

Bonds,

Enloe

Medical

Center,

Refunding

Series

2022A

-

AGM

Insured

.250

08/15/52

1,385,432

4,526

(b),(c)

California

Statewide

Community

Development

Authority,

Revenue

Bonds,

Daughters

of

Charity

Health

System,

Series

2005A

.750

12/31/25

4,526

5,204

(b),(c)

California

Statewide

Community

Development

Authority,

Revenue

Bonds,

Daughters

of

Charity

Health

System,

Series

2005A

.750

07/01/30

5,203

(b),(c)

California

Statewide

Community

Development

Authority,

Revenue

Bonds,

Daughters

of

Charity

Health

System,

Series

2005A

.750

07/01/35

4,897

(b),(c)

California

Statewide

Community

Development

Authority,

Revenue

Bonds,

Daughters

of

Charity

Health

System,

Series

2005G

.500

12/31/25

4,897

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

3,000,000

Kaweah

Delta

Health

Care

District,

California,

Revenue

Bonds,

Series

2015B

.000

%

06/01/40

$

2,820,064

5,000,000

Palomar

Health

System,

California,

Revenue

Bonds,

Refunding

Series

2017

.000

11/01/42

3,846,721

1,630,000

Upland,

California,

Certificates

of

Participation,

San

Antonio

Regional

Hospital,

Series

2017

.000

01/01/47

1,622,179

2,800,000

Washington

Township

Health

Care

District,

California,

Revenue

Bonds,

Series

2017A

.000

07/01/42

2,705,478

TOTAL

HEALTH

CARE

258,670,763

HOUSING/MULTIFAMILY

-

14.8%

5,340,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Creekwood,

Series

2021A

.000

02/01/56

3,313,063

15,920,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Glendale

Properties,

Junior

Series

2021A-2

.000

08/01/47

12,139,328

30,005,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Serenity

at

Larkspur

Apartments,

Series

2020A

.000

02/01/50

21,004,640

560,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Summit

at

Sausalito

Apartments,

Series

2021A-2

.000

02/01/50

416,050

425,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

The

Arbors,

Series

2020A

.000

08/01/50

393,149

2,850,000

(a) California

Community

Housing

Agency,

California,

Essential

Housing

Revenue

Bonds,

Verdant

at

Green

Valley

Apartments,

Series

2019A

.000

08/01/49

2,535,306

25,810,000

(a) California

Community

Housing

Agency,

Workforce

Housing

Revenue

Bonds,

Annadel

Apartments,

Series

2019A

.000

04/01/49

20,908,565

10,232,627

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2019-2

.000

03/20/33

10,166,633

12,061,060

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series

2021-1

.500

11/20/35

11,204,130

1,472,131

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Series2019-1

.250

01/15/35

1,479,025

9,636,966

California

Housing

Finance

Agency,

Municipal

Certificate

Revenue

Bonds,

Class

A

Social

Certificates

Series

2023-1

.375

09/20/36

9,554,563

2,900,000

California

Municipal

Finance

Authority,

Mobile

Home

Park

Revenue

Bonds,

Caritas

Projects,

Social

Series

2024A

.000

08/15/59

2,856,119

2,740,000

California

Statewide

Community

Development

Authority,

Multifamily

Housing

Revenue

Senior

Bonds,

Westgate

Courtyards

Apartments,

Series

2001X-1

-

AMBAC

Insured,

(AMT)

.420

12/01/34

2,714,421

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

16,760,612

5,675,000

(a) CMFA

Special

Finance

Agency,

California,

Essential

Housing

Revenue

Bonds,

Enclave

Apartments,

Senior

Series

2022A-1

.000

08/01/58

4,129,947

920,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

777

Place-Pomona,

Senior

Lien

Series

2021A-1

.600

05/01/47

728,444

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

5,683,663

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

4,081,116

26,965,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Altana

Glendale,

Series

2021A-2

.000

10/01/56

19,948,731

16,355,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Center

City

Anaheim,

Series

2020A

.000

01/01/54

14,627,779

2,620,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Jefferson-Anaheim

Series

2021A-1

.875

08/01/41

2,274,253

4,640,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Jefferson-Anaheim

Series

2021A-2

.125

08/01/56

3,323,002

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 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

$

14,373,999

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

1,220,780

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

3,026,024

395,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Orange

City

Portfolio,

Mezzanine

Lien

Series

2021B

.000

03/01/57

276,504

15,125,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Parallel-Anaheim

Series

2021A

.000

08/01/56

12,741,162

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

2,707,690

5,730,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Union

South

Bay,

Series

2021A-2

.000

07/01/56

4,336,694

7,475,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Vineyard

Gardens

Apartments,

Senior

Lien

Series

2021A

.250

10/01/58

4,857,251

2,100,000

(a) CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Waterscape

Apartments,

Mezzanine

Lien

Series

2021B

.000

09/01/46

1,672,274

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

2,680,362

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

9,420,025

2,100,000

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Wood

Creek

Apartments,

Mezzanine

Lien

Series

2021A-2

.000

12/01/58

1,448,251

7,545,000

CSCDA

Community

Improvement

Authority,

California,

Essential

Housing

Revenue

Bonds,

Wood

Creek

Apartments,

Senior

Lien

Series

2021A-1

.000

12/01/49

4,867,441

265,000

Independent

Cities

Finance

Authority,

California,

Mobile

Home

Park

Revenue

Bonds,

Palomar

Estates

West,

Refunding

Series

2015

.000

09/15/25

265,396

2,480,000

Los

Angeles

Housing

Authority,

California,

Multifamily

Housing

Revenue

Bonds,

Clarendon

Apartments,

Senior

Series

2024A

.400

12/01/54

2,167,379

4,325,000

Los

Angeles

Housing

Authority,

California,

Multifamily

Housing

Revenue

Bonds,

Clarendon

Apartments,

Senior

Series

2024A

.550

12/01/61

4,004,420

TOTAL

HOUSING/MULTIFAMILY

240,308,191

HOUSING/SINGLE

FAMILY

-

0.3%

6,000,000

California

Department

of

Veterans

Affairs,

Home

Purchase

Revenue

Bonds,

Series

2024A

.300

12/01/54

5,444,015

TOTAL

HOUSING/SINGLE

FAMILY

5,444,015

LONG-TERM

CARE

-

0.1%

1,300,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

Northern

California

Presbyterian

Homes

&

Services

Inc.,

Refunding

Series

2015

.000

07/01/39

1,300,879

TOTAL

LONG-TERM

CARE

1,300,879

TAX

OBLIGATION/GENERAL

-

8.1%

1,000,000

Acalanes

Union

High

School

District,

Contra

Costa

County,

California,

General

Obligation

Bonds,

Refunding

Series

2010A

.000

08/01/26

965,521

8,000,000

Antioch

Unified

School

District,

Contra

Costa

County,

California,

General

Obligation

Bonds,

Election

2024

Series

2024A

.000

08/01/47

7,392,705

6,375,000

Antioch

Unified

School

District,

Contra

Costa

County,

California,

General

Obligation

Bonds,

Election

2024

Series

2024A

.000

08/01/50

5,747,636

5,570,000

(d) Bakersfield

City

School

District,

Kern

County,

California,

General

Obligation

Bonds,

Series

2012C

.000

05/01/42

4,127,837

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

2,500,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2016

.000

%

09/01/45

$

2,524,876

835,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2016

.000

09/01/46

843,005

22,700,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2018

.000

10/01/47

22,832,237

1,770,000

California

State,

General

Obligation

Bonds,

Various

Purpose

Series

2020

.000

11/01/45

1,647,587

3,385,000

Chino

Valley

Unified

School

District,

San

Bernardino

County,

California,

General

Obligation

Bonds,

2016

Election

Series

2020B

.000

08/01/55

3,452,102

4,900,000

Corona-Norco

Unified

School

District,

Riverside

County,

California,

General

Obligation

Bonds,

Election

2014,

Series

2019C

.000

08/01/49

4,450,683

14,500,000

Grossmont

Healthcare

District,

California,

General

Obligation

Bonds,

Refunding

Series

2015D

.000

07/15/40

14,517,338

2,745,000

Grossmont-Cuyamaca

Community

College

District,

California,

General

Obligation

Bonds,

Refunding

Series

2018

.000

08/01/47

2,518,137

7,000,000

Hacienda

La

Puente

Unified

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

2016

Election,

Series

2017A

.000

08/01/47

6,421,479

30,000

Long

Beach

Unified

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Election

of

2008,

Series

2009A

.500

08/01/29

30,120

6,225,000

Manteca

Unified

School

District,

San

Joaquin

County,

California,

General

Obligation

Bonds,

Election

2014

Series

2017B

.000

08/01/42

5,764,490

10,000,000

Marin

Healthcare

District,

Marin

County,

California,

General

Obligation

Bonds,

2013

Election,

Series

2015A

.000

08/01/40

9,496,623

4,040,000

Morgan

Hill

Unified

School

District,

Santa

Clara

County,

California,

General

Obligation

Bonds,

Election

2012

Series

2017B

.000

08/01/47

3,712,161

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

2,360,936

9,440,000

Paramount

Unified

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Election

2006

Series

2011

.375

08/01/45

10,776,450

7,070,089

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

.000

07/01/33

4,792,200

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

1,551,915

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

2,059,472

3,080,000

Washington

Township

Health

Care

District,

Alameda

County,

California,

General

Obligation

Bonds,

2004

Election

Series

2013B

.000

08/01/43

2,995,658

645,000

Washington

Township

Health

Care

District,

Alameda

County,

California,

General

Obligation

Bonds,

2012

Election

Series

2013A

.500

08/01/40

646,325

8,640,000

Washington

Township

Health

Care

District,

Alameda

County,

California,

General

Obligation

Bonds,

2012

Election

Series

2015B

.000

08/01/45

7,704,090

3,500,000

(d) Yosemite

Community

College

District,

California,

General

Obligation

Bonds,

Capital

Appreciation,

Election

2004,

Series

2010D

.000

08/01/42

2,793,032

TOTAL

TAX

OBLIGATION/GENERAL

132,124,615

TAX

OBLIGATION/LIMITED

-

9.7%

995,000

Beaumont

Financing

Authority,

California,

Local

Agency

Revenue

Bonds,

Improvement

Area

19A,

Series

2015B

.000

09/01/35

997,306

1,035,000

Beaumont,

California,

Special

Tax

Bonds,

Community

Facilities

District

93-1

Improvement

Area

8D,

Series

2018A

.000

09/01/48

1,035,500

1,655,000

Bell

Community

Housing

Authority,

California,

Lease

Revenue

Bonds,

Series

2005

-

AMBAC

Insured

.000

10/01/36

1,602,500

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

700,000

Brea

and

Olinda

Unified

School

District,

Orange

County,

California,

Certificates

of

Participation

Refunding,

Series

2002A

-

AGM

Insured

.125

%

08/01/26

$

700,822

200,000

Brentwood

Infrastructure

Financing

Authority,

California,

Infrastructure

Revenue

Bonds,

Refunding

Subordinated

Series

2014B

.000

09/02/36

200,045

1,760,000

California

Community

College

Financing

Authority,

Lease

Revenue

Bonds,

Refunding

Series

2003

-

AMBAC

Insured

.000

06/01/33

1,254,386

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

2,073,479

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

1,962,723

750,000

California

Municipal

Finance

Authority,

Special

Tax

Revenue

Bonds,

Bold

Program,

Series

2020A

.000

09/01/45

652,143

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

3,918,418

345,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2011A

.000

09/02/41

326,363

945,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2016B

.000

09/02/46

946,061

1,000,000

California

Statewide

Communities

Development

Authority,

Statewide

Community

Infrastructure

Program

Revenue

Bonds,

Series

2018A

.000

09/02/47

1,002,705

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

787,300

800,000

Corona,

California,

Special

Tax

Bonds,

Community

Facilities

District

2018-1

Bedford,

Series

2018A

.000

09/01/43

804,436

1,800,000

Dublin

Community

Facilities

District

2015-1

Dublin

Crossing,

California,

Special

Tax

Bonds,

Improvement Area

2,

Series

2019

.000

09/01/44

1,814,224

1,500,000

Elk

Grove

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Series

2015

-

BAM

Insured

.000

09/01/38

1,507,174

1,000,000

Folsom

Ranch

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Folsom

Community

Facilities

District

Mangini

Ranch,

Series

2019

.000

09/01/49

1,002,379

310,000

Golden

State

Tobacco

Securitization

Corporation,

California,

Tobacco

Settlement

Asset-Backed

Revenue

Bonds,

Series

2022A-1

.000

06/01/51

303,378

6,000,000

Government

of

Guam,

Business

Privilege

Tax

Bonds,

Refunding

Series

2015D

.000

11/15/32

6,025,614

3,725,000

Government

of

Guam,

Business

Privilege

Tax

Bonds,

Refunding

Series

2015D

.000

11/15/39

3,668,679

1,000,000

Huntington

Beach,

California,

Special

Tax

Bonds,

Community

Facilities

District

2003-1

Huntington

Center,

Refunding

Series

2013

.375

09/01/33

1,000,964

4,585,000

Irvine

Facilities

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Great

Park

Infrastructure

Project

Series

2023A

.000

09/01/42

4,827,537

1,090,000

Irvine,

California,

Limited

Obligation

Improvement

Bonds,

Reassessment

District

15-2,

Series

2015

.000

09/02/42

1,090,370

790,000

Lake

Elsinore

Public

Financing

Authority,

California,

Local

Agency

Revenue

Bonds,

Canyon

Hills

Improvement

Area

A

&

C,

Series

2014C

.000

09/01/40

790,088

1,620,000

Lake

Elsinore

Public

Financing

Authority,

California,

Local

Agency

Revenue

Bonds,

Refunding

Series

2015

.000

09/01/40

1,605,183

1,400,000

Lammersville

Joint

Unified

School

District,

San

Joaquin

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2014-

Improvement

Area

Mountain

House

School

Facilities,

Series

2017

.000

09/01/47

1,399,998

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

1,000,000

Lathrop,

California,

Limited

Obligation

Improvement

Bonds,

Crossroads

Assessment

District,

Series

2015

.000

%

09/02/40

$

996,101

1,000,000

Los

Angeles

County

Facilities

Inc,

California,

Lease

Revenue

Bonds,

Vermont

Corridor

County

Administration

Building,

Series

2018A

.000

12/01/51

1,017,766

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

5,191,751

7,000,000

Los

Angeles

County

Public

Works

Financing

Authority,

California,

Lease

Revenue

Bonds,

Series

2019E-1

.000

12/01/44

7,149,570

3,495,000

Los

Angeles

County

Public

Works

Financing

Authority,

California,

Lease

Revenue

Bonds,

Series

2019E-1

.000

12/01/49

3,537,731

115,000

Menifee

Union

School

District

Public

Financing

Authority,

California,

Special

Tax

Revenue

Bonds,

Series

2016A

-

BAM

Insured

.000

09/01/36

115,391

325,000

Menifee,

California,

Special

Tax

Bonds,

Community

Facilities

District

2021-1,

Banner

Park

Series

2023A

.000

09/01/48

323,598

1,455,000

Modesto,

California,

Speical

Tax

Bonds,

Community

Faclities

District

2004-1

Village

One

2,

Refunding

Series

2014

.000

09/01/28

1,457,145

570,000

ndio,

California,

Special

Tax

Bonds,

Community

Facilities

District

2004-3

Terra

Lago,

Improvement

Area

1,

Series

2015

.000

09/01/35

571,222

3,250,000

Oakland

Redevelopment

Successor

Agency,

California,

Tax

Allocation

Bonds,

Refunding

Subordinated

Series

2015-TE

-

AGM

Insured

.000

09/01/35

3,260,261

3,215,000

Oakland

Redevelopment

Successor

Agency,

California,

Tax

Allocation

Bonds,

Refunding

Subordinated

Series

2015-TE

-

AGM

Insured

.000

09/01/36

3,223,783

255,000

Orange

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

2015-1

Esencia

Village,

Series

2015A

.250

08/15/45

254,982

15,907,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.000

07/01/46

5,106,692

31,031,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.000

07/01/58

29,155,350

5,920,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

.536

07/01/53

5,129,971

7,525,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

.784

07/01/58

6,746,218

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

4,270,156

415,000

Riverside

Unified

School

District,

Riverside

County,

California,

Special

Tax

Bonds,

Community

Facilities

District

32,

Series

2020

.000

09/01/45

360,376

1,000,000

Roseville,

California,

Special

Tax

Bonds,

Community

Facilities

District

Westpark,

Refunding

Series

2015

.000

09/01/28

1,003,205

1,000,000

Roseville,

California,

Special

Tax

Bonds,

Community

Facilities

District

Westpark,

Refunding

Series

2015

.000

09/01/29

1,002,925

1,000,000

Roseville,

California,

Special

Tax

Bonds,

Community

Facilities

District

Westpark,

Refunding

Series

2015

.000

09/01/30

1,001,361

3,390,000

San

Francisco

Bay

Area

Rapid

Transit

District,

California,

Sales

Tax

Revenue

Bonds,

Series

2019A

.000

07/01/38

3,305,078

360,000

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

360,183

1,955,000

San

Francisco

City

and

County

Redevelopment

Agency,

California,

Hotel

Occupancy

Tax

Revenue

Bonds,

Refunding

Series

2011

-

AGM

Insured

.000

06/01/25

1,955,000

3,380,000

Santa

Barbara

Finance

Authority,

California,

Lease

Revenue

Bonds,

Public

Safety

and

Parks

Projects,

Series

2024

.000

05/15/54

2,983,808

75,000

Signal

Hill

Redevelopment

Agency,

California,

Project

Tax

Allocation

Bonds,

Series

2011

.000

10/01/26

75,211

2,235,000

Stockton

Public

Financing

Authority,

California,

Revenue

Bonds,

Arch

Road

East

Community

Facility

District

99-02,

Series

2018A

.000

09/01/43

2,242,561

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

380,000

Stockton,

California,

Special

Tax

Bonds,

Community

Facilities

District

2018-2

Westlake

Villages

II

Improvement

Area

2,

Series

2024

.000

%

09/01/44

$

381,081

525,000

Stockton,

California,

Special

Tax

Bonds,

Community

Facilities

District

2018-2

Westlake

Villages

II

Improvement

Area

2,

Series

2024

.000

09/01/49

526,301

650,000

Stockton,

California,

Special

Tax

Bonds,

Community

Facilities

District

2018-2

Westlake

Villages

II

Improvement

Area

2,

Series

2024

.000

09/01/54

646,769

105,000

(a) Temecula

Public

Financing

Authority,

California,

Special

Tax

Bonds,

Community

Facilities

District

16-01,

Series

2017

.125

09/01/37

108,920

1,345,000

Tracy,

California,

Special

Tax

Bonds,

Community

Facilities

District

2016-1

Tracy

Hills, Improvement

Area

2,

Series

2023

.625

09/01/43

1,400,979

3,120,000

Transbay

Joint

Powers

Authority,

California,

Tax

Allocation

Bonds,

Senior

Green

Series

2020A

.000

10/01/45

3,028,830

395,000

Tustin,

California,

Special

Tax

Bonds,

Community

Facilities

District

06-1

Tustin

Legacy/Columbus

Villages,

Refunding

Series

2015A

.000

09/01/37

395,850

50,000

Tustin,

California,Special

Tax

Bonds,

Community

Facilities

District

14-1

Tustin

Legacy/Standard

Pacific,

Refunding

Series

2015A

.000

09/01/40

50,051

100,000

Tustin,

California,Special

Tax

Bonds,

Community

Facilities

District

14-1

Tustin

Legacy/Standard

Pacific,

Refunding

Series

2015A

.000

09/01/45

100,028

625,000

Val

Verde

Unified

School

District,

California,

Special

Tax

Bonds,

Community

Facilities

District

2018-2,

Stratford

Improvement

Area

Series

2023

.000

09/01/48

627,928

7,600,000

Vista

Community

Development

Commission

Taxable

Non-

Housing

Tax

Allocation

Revenue

Bonds,

California,

Vista

Redevelopment

Project,

Series

2011

.000

09/01/33

7,618,817

7,920,000

Vista

Community

Development

Commission

Taxable

Non-

Housing

Tax

Allocation

Revenue

Bonds,

California,

Vista

Redevelopment

Project,

Series

2011

.125

09/01/37

7,939,357

TOTAL

TAX

OBLIGATION/LIMITED

157,922,082

TRANSPORTATION

-

18.0%

50,000

Alameda

Corridor

Transportation

Authority,

California,

Revenue

Bonds,

Refunding

Subordinate

Lien

Series

2016A

.000

10/01/25

50,134

4,375,000

Burbank-Glendale-Pasadena

Airport

Authority,

California,

Airport

Revenue

Bonds,

Senior

Series

2024B

-

AGM

Insured,

(AMT)

.375

07/01/49

3,968,728

18,840,000

Foothill/Eastern

Transportation

Corridor

Agency,

California,

Toll

Road

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021A

.000

01/15/46

17,727,185

5,050,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Green

Series

2022G,

(AMT)

.000

05/15/52

4,977,295

1,550,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Refunding

&

Subordinate

Series

2022C,

(AMT)

.000

05/15/37

1,504,643

1,250,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Refunding

&

Subordinate

Series

2022C,

(AMT)

.000

05/15/38

1,196,644

1,930,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Refunding

&

Subordinate

Series

2022C,

(AMT)

.000

05/15/39

1,833,053

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

2,254,942

6,925,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2016B,

(AMT)

.000

05/15/46

6,853,896

1,935,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2018C,

(AMT)

.000

05/15/36

1,960,783

24,440,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2018C,

(AMT)

.000

05/15/44

24,202,575

2,000,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2019D,

(AMT)

.000

05/15/30

2,086,616

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

2,415,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2019D,

(AMT)

.000

%

05/15/34

$

2,479,857

1,695,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2019D,

(AMT)

.000

05/15/35

1,732,080

3,500,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2019D,

(AMT)

.000

05/15/39

3,523,254

3,600,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2019F,

(AMT)

.000

05/15/37

3,674,136

10,000,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2019F,

(AMT)

.000

05/15/44

9,963,098

9,680,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2021D,

(AMT)

.000

05/15/37

10,032,836

6,995,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2022A,

(AMT)

.000

05/15/45

7,005,131

1,000,000

Los

Angeles

Department

of

Airports,

California,

Revenue

Bonds,

Los

Angeles

International

Airport,

Subordinate

Lien

Series

2022A,

(AMT)

.000

05/15/49

863,110

16,305,000

Riverside

County

Transportation

Commission,

California,

Toll

Revenue

Second

Lien

Bonds,

RCTC

Express

Lanes,

Refunding

Series

2021C

.000

06/01/47

14,230,419

3,085,000

Riverside

County

Transportation

Commission,

California,

Toll

Revenue

Senior

Lien

Bonds,

RCTC

Express

Lanes,

Refunding

Series

2021B-1

.000

06/01/40

2,887,253

10,815,000

Riverside

County

Transportation

Commission,

California,

Toll

Revenue

Senior

Lien

Bonds,

RCTC

Express

Lanes,

Refunding

Series

2021B-1

.000

06/01/46

9,651,930

4,230,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

International

Senior

Series

2023B,

(AMT)

.000

07/01/48

4,223,435

2,625,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Subordinate

Series

2017A

.000

07/01/47

2,640,003

2,000,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Subordinate

Series

2017A,

(AMT)

.000

07/01/47

1,969,328

4,000,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Subordinate

Series

2019B,

(AMT)

.000

07/01/49

3,914,745

2,500,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Subordinate

Series

2021B,

(AMT)

.000

07/01/46

2,483,798

7,000,000

San

Diego

County

Regional

Airport

Authority,

California,

Airport

Revenue

Bonds,

Subordinate

Series

2021B,

(AMT)

.000

07/01/51

6,893,563

16,055,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2023C,

(AMT)

.500

05/01/41

17,012,926

2,175,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2024A,

(AMT)

.250

05/01/49

2,215,941

2,330,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2025A,

(AMT)

.250

05/01/55

2,358,017

6,130,000

San

Francisco

Airport

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2025A,

(AMT)

.500

05/01/55

6,365,360

14,120,000

San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Governmental

Purpose

Second

Series

2017B

.000

05/01/47

14,194,452

5,150,000

San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2019A,

(AMT)

.000

05/01/44

5,130,928

3,515,000

San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Refunding

Second

Series

2019A,

(AMT)

.000

05/01/49

3,468,875

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

10,000,000

San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2016B,

(AMT)

.000

%

05/01/41

$

9,900,466

17,855,000

San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2016B,

(AMT)

.000

05/01/46

17,648,882

5,000,000

San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2017A,

(AMT)

.000

05/01/47

4,943,100

7,170,000

San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2018D,

(AMT)

.000

05/01/43

7,099,791

9,315,000

San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2018D,

(AMT)

.000

05/01/48

9,126,519

1,025,000

San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2019E,

(AMT)

.000

05/01/40

1,034,879

18,500,000

San

Francisco

Airports

Commission,

California,

Revenue

Bonds,

San

Francisco

International

Airport,

Second

Series

2019E,

(AMT)

.000

05/01/45

18,304,490

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

14,418,447

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

3,195,496

TOTAL

TRANSPORTATION

293,203,039

U.S.

GUARANTEED

-

4.2%

(e) 8,310,000

Antelope

Valley

Community

College

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Election

2016

Series

2017A,

(Pre-refunded

2/15/27)

.250

08/01/42

8,639,541

3,915,000

California

Educational

Facilities

Authority,

Revenue

Bonds,

Pepperdine

University,

Series

2015,

(Pre-refunded

9/01/25)

.000

09/01/40

3,935,288

185,000

California

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

the

Pacific,

Refunding

Series

2015,

(Pre-refunded

11/01/25)

.000

11/01/36

186,646

5,360,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Refunding

Series

2016B,

(Pre-

refunded

11/15/26)

.000

11/15/46

5,540,256

10,845,000

California

Health

Facilities

Financing

Authority,

California,

Revenue

Bonds,

Sutter

Health,

Series

2016A,

(Pre-refunded

11/15/25)

.000

11/15/41

10,952,659

1,235,000

California

Health

Facilities

Financing

Authority,

Revenue

Bonds,

CommonSpirit

Health,

Series

2020A,

(Pre-refunded

4/01/30)

.000

04/01/49

1,299,478

40,000

(a) California

School

Finance

Authority,

California,

Charter

School

Revenue

Bonds,

Aspire

Public

Schools,

Refunding

Series

2016,

(Pre-refunded

8/01/25)

.000

08/01/46

40,105

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

275,100

5,270,000

Charter

Oak

Unified

School

District,

Los

Angeles

County,

California,

General

Obligation

Bonds,

Election

2012

Refunding

Series

2015A,

(Pre-refunded

8/01/25)

-

AGM

Insured

.000

08/01/40

5,286,919

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

542,424

4,390,000

Golden

State

Tobacco

Securitization

Corporation,

California,

Enhanced

Tobacco

Settlement

Asset-Backed

Revenue

Bonds,

Series

2005A

-

AMBAC

Insured,

(ETM)

.000

06/01/28

4,008,011

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

592,594

5,870,000

Riverside

Community

College

District,

California,

General

Obligation

Bonds,

Refunding Series

2015,

(Pre-refunded

8/01/25)

.000

08/01/29

5,890,799

2,000,000

San

Diego

Community

College

District,

San

Diego

County,

California,

General

Obligation

Bonds,

Refunding

Series

2016,

(Pre-refunded

8/01/26)

.000

08/01/41

2,054,512

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

U.S.

GUARANTEED

(e) (continued)

$

4,960,000

San

Dieguito

Union

High

School

District,

San

Diego

County,

California,

General

Obligation

Bonds,

Election

2012,

Series

2015B-2,

(Pre-refunded

8/01/25)

.000

%

08/01/32

$

4,968,326

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

5,168

6,240,000

San

Mateo

Union

High

School

District,

San

Mateo

County,

California,

General

Obligation

Bonds,

Election

of

2010,

Series

2015A,

(Pre-refunded

9/01/25)

.000

09/01/31

6,258,525

7,800,000

Southwestern

Community

College

District,

San

Diego

County,

California,

General

Obligation

Bonds,

Election

of

2008,

Series

2015D,

(Pre-refunded

8/01/25)

.000

08/01/44

7,826,728

TOTAL

U.S.

GUARANTEED

68,303,079

UTILITIES

-

16.2%

12,110,000

California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2023E,

(Mandatory

Put

9/01/32)

.000

02/01/55

12,721,979

2,890,000

California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2024A,

(Mandatory

Put

4/01/32)

.000

05/01/54

3,034,271

22,830,000

California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2024B,

(Mandatory

Put

12/01/32)

.000

01/01/55

23,486,054

14,365,000

California

Community

Choice

Financing

Authority,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2024C,

(Mandatory

Put

10/01/32)

.000

08/01/55

14,969,216

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

4,999,643

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

17,104,814

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

4,443,175

11,270,000

Central

Valley

Energy

Authority,

California,

Commodity

Supply

Revenue

Bonds,

Series

2025,

(Mandatory

Put

8/01/35)

.000

12/01/55

11,796,678

2,500,000

El

Dorado

Irrigation

District,

California,

Certificates

of

Participation,

Revenue

Bonds,

Series

2024A

.000

03/01/50

2,214,859

5,005,000

Irvine

Ranch

Water

District,

California,

Certificates

of

Participation,

Irvine

Ranch

Water

District

Series

2016

.000

03/01/46

5,028,718

6,525,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2017A

.000

07/01/42

6,529,385

8,430,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2017C

.000

07/01/47

8,311,686

4,770,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2019A

.000

07/01/45

4,737,151

32,975,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2020B

.000

07/01/50

32,927,391

6,065,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2021B

.000

07/01/51

6,033,384

2,040,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2022B

.000

07/01/47

2,052,435

5,165,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2022C

.000

07/01/52

5,135,444

5,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2023D

.000

07/01/43

5,095,130

5,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2023E

.000

07/01/53

4,962,211

465,000

Los

Angeles

Department

of

Water

and

Power,

California,

Power

System

Revenue

Bonds,

Series

2025A

-

BAM

Insured

.000

07/01/53

470,618

6,640,000

Los

Angeles

Department

of

Water

and

Power,

California,

Water

System

Revenue

Bonds,

Series

2022D

.000

07/01/52

6,602,004

7,730,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2016A

.000

07/01/46

7,620,726

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### California

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

UTILITIES

(continued)

$

7,000,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2020C

.000

%

07/01/40

$

7,148,771

9,990,000

Los

Angeles

Department

of

Water

and

Power,

California,

Waterworks

Revenue

Bonds,

Series

2020C

.000

07/01/41

10,172,634

16,465,000

Metropolitan

Water

District

of

Southern

California,

Water

Revenue

Bonds,

Refunding

Series

2023A

.000

04/01/53

17,200,770

2,215,000

Pico

Rivera

Water

Authority,

California,

Revenue

Bonds,

Refunding

Water

System

Project,

Series

1999A

-

NPFG

Insured

.500

05/01/29

2,310,755

2,180,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A

.000

07/01/47

2,068,610

250,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021A

.000

07/01/42

214,282

5,110,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021B

.000

07/01/42

4,379,934

900,000

San

Joaquin

County,

California,

Revenue

Bonds,

CSA

County

Service

Area

31,

Refunding

Series

2018A

.000

08/01/42

861,316

7,145,000

San

Joaquin

Valley

Clean

Energy

Authority,

California,

Clean

Energy

Project

Revenue

Bonds,

Green

Series

2025A,

(Mandatory

Put

7/01/35)

.500

01/01/56

7,746,742

3,520,000

Southern

California

Public

Power

Authority,

California,

Revenue

Bonds,

Clean

Energy

Project

Revenue

Bonds,

Series

2024A,

(Mandatory

Put

9/01/30)

.000

04/01/55

3,650,584

17,000,000

Southern

California

Public

Power

Authority,

Southern

Transmission

System

Renewal

Project

Revenue

Bonds,

Series

2023-1A

.000

07/01/48

17,087,829

TOTAL

UTILITIES

263,119,199

TOTAL

MUNICIPAL

BONDS

(Cost

$1,626,227,108)

1,534,204,228

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$1,626,227,108)

1,534,204,228

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

SHORT-TERM

INVESTMENTS

-

1.6%

X

26,375,000

MUNICIPAL

BONDS

-

1.6%

X

–

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

1.1%

$

18,000,000

(f),(g)

University

of

California,

General

Revenue

Bonds,

Series

2024BY-2

.900

05/15/54

$

18,000,000

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

18,000,000

WATER

AND

SEWER

-

0.5%

8,375,000

(f),(g)

Orange

County

Water

District,

California,

Revenue

Certificates

of

Participation,

Adjustable

Rate

Series

2003A

.950

08/01/42

8,375,000

TOTAL

WATER

AND

SEWER

8,375,000

TOTAL

MUNICIPAL

BONDS

(Cost

$26,375,000)

26,375,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$26,375,000)

26,375,000

TOTAL

INVESTMENTS

-

95.9%

(Cost

$1,652,602,108)

1,560,579,228

BORROWINGS

-

(0.6)%

(h),(i)

(10,200,000)

OTHER

ASSETS

&

LIABILITIES,

NET

-

4.7%

76,221,060

NET

ASSETS

-

100%

$

1,626,600,288

AMT

Alternative

Minimum

Tax

ETM

Escrowed

to

maturity

(a) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

reporting

period,

the

aggregate

value

of

these

securities

is

$270,976,477

or

17.4%

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) For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. (d) Step-up

coupon

bond,

a

bond

with

a

coupon

that

increases

("steps

up"),

usually

at

regular

intervals,

while

the

bond

is

outstanding.

The

rate

shown

is

the

coupon

as

of

the

end

of

the

reporting

period.

(e) 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.

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

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

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:

(f) Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(g) 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.

(h) Borrowings

as

a

percentage

of

Total

Investments

is

0.7%.

(i) The

Fund

may

pledge

up

to

100%

of

its

eligible

investments

(excluding

any

investments

separately

pledged

as

collateral

for

specific

investments

in

derivatives

or

inverse

floating

rate

transactions,

when

applicable)

in

the

Portfolio

of

Investments

as

collateral

for

borrowings.

California

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

1,534,189,263

$

14,965

$

1,534,204,228

Short-Term

Investments:

Municipal

Bonds

–

26,375,000

–

26,375,000

Total

$

–

$

1,560,564,263

$

14,965

$

1,560,579,228

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025

#### Connecticut

#### Municipal

#### Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

96.3%

X

210,407,230

MUNICIPAL

BONDS

-

96.3%

X

–

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

18.6%

$

1,885,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Fairfield

University,

Series

2016Q-1

.000

%

07/01/46

$

1,855,419

750,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Fairfield

University,

Series

2017R

.000

07/01/47

636,257

2,500,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Fairfield

University,

Series

2022U

.000

07/01/52

2,100,272

1,545,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Hopkins

School,

Series

2022E

.250

07/01/47

1,581,816

1,000,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Hopkins

School,

Series

2022E

.000

07/01/53

1,001,649

1,130,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Loomis

Chaffe

School,

Series

2023L

.000

07/01/43

1,027,677

5,095,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Quinnipiac

University,

Refunding

Series

2015L

.000

07/01/45

4,969,611

1,750,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Quinnipiac

University,

Series

2016M

.000

07/01/35

1,756,907

2,000,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Quinnipiac

University,

Series

2023N

.000

07/01/48

1,988,213

5,110,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Sacred

Heart

University,

Series

2017I-1

.000

07/01/42

5,133,697

2,000,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Sacred

Heart

University,

Series

2020K

.000

07/01/40

2,038,797

3,465,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Sacred

Heart

University,

Series

L

.000

07/01/42

3,535,514

790,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

The

Taft

School

Isue,

Series

2021L

.000

07/01/41

638,513

2,210,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

The

Taft

School

Isue,

Series

2021L

.000

07/01/46

1,670,172

1,500,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Trinity

College,

Series

2020R

.000

06/01/45

1,333,973

4,000,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Trinity

College,

Series

2021S

.000

06/01/46

3,520,484

1,175,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Trinity

College,

Series

2021S

.000

06/01/51

989,160

1,900,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

Hartford,

Series

2022P

.375

07/01/52

1,668,550

2,000,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

University

of

New

Haven,

Series

2018K-1

.000

07/01/37

2,009,913

1,200,000

University

of

Connecticut,

Student

Fee

Revenue

Bonds,

Special

Obligation

Series

2023A

.250

11/15/48

1,278,106

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

40,734,700

HEALTH

CARE

-

16.5%

4,600,000

Connecticut

Health

and

Educational

Facilities

Authority

Revenue

Bonds,

Hartford

HealthCare,

Series

2015F

.000

07/01/45

4,458,925

1,000,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Connecticut

Children?s

Medical

Center

and

Subsidiaries,

Series

2023E

.250

07/15/48

1,022,348

5,160,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Connecticut

Children?s

Medical

Center

and

Subsidiaries,

Series

2023E

.250

07/15/53

4,504,175

695,000

(a) Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Griffin

Hospital,

Series

2020G-1

.000

07/01/39

667,727

1,085,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Hartford

HealthCare

Issue,

Series

2020A

.000

07/01/40

994,271

3,000,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Hartford

HealthCare

Issue,

Series

2021A

-

BAM

Insured

.000

07/01/51

2,566,587

500,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Hartford

HealthCare,

Series

2014E

.000

07/01/42

487,169

1,995,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Middlesex

Hospital,

Series

2015O

.000

07/01/36

1,995,427

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

2,455,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Nuvance

Health

Series

2019A

.000

%

07/01/34

$

2,438,482

2,860,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Nuvance

Health

Series

2019A

.000

07/01/41

2,596,093

6,020,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Nuvance

Health

Series

2019A

-

BAM

Insured

.000

07/01/49

5,231,663

1,500,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Stamford

Hospital,

Forward

Delivery

Series

2022M

.000

07/01/42

1,346,159

1,885,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Stamford

Hospital,

Series

2016K

.000

07/01/46

1,627,773

2,350,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Trinity

Health

Credit

Group,

Series

2016CT

.000

12/01/41

2,353,560

2,000,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Trinity

Health

Credit

Group,

Series

2016CT

.000

12/01/45

1,980,406

985,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Yale-New

Haven

Health

Issue,

Series

2024A

.000

07/01/45

1,018,771

795,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Yale-New

Haven

Health

Issue,

Series

2024A

.000

07/01/47

819,764

TOTAL

HEALTH

CARE

36,109,300

HOUSING/MULTIFAMILY

-

1.2%

1,890,000

Connecticut

Housing

Finance

Authority,

Housing

Mortgage

Finance

Program

Bonds,

Series

2019B-1

.300

11/15/39

1,617,553

1,000,000

(b) Connecticut

Housing

Finance

Authority,

Housing

Mortgage

Finance

Program

Bonds,

Social

Series

2025C-1

.650

11/15/40

1,000,643

TOTAL

HOUSING/MULTIFAMILY

2,618,196

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

967,366

1,560,000

Connecticut

Housing

Finance

Authority,

Housing

Mortgage

Finance

Program

Bonds,

Green

Series

2021B-3

.300

11/15/46

962,711

190,000

Connecticut

Housing

Finance

Authority,

Housing

Mortgage

Finance

Program

Bonds,

Series

2020E-3

.850

05/15/38

132,176

1,430,000

Connecticut

Housing

Finance

Authority,

Housing

Mortgage

Finance

Program

Bonds,

Social

Series

2024A

.600

11/15/49

1,380,745

TOTAL

HOUSING/SINGLE

FAMILY

3,442,998

LONG-TERM

CARE

-

5.7%

1,100,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Duncaster,

Inc.,

Series

2014A

.000

08/01/44

1,029,158

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

2,395,483

900,000

(a) Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Mary

Wade

Home

Issue,

Series

2019A-1

.500

10/01/34

814,805

200,000

(a) Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Mary

Wade

Home

Issue,

Series

2019A-1

.000

10/01/54

148,468

4,365,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

Masonicare

Issue,

Series

2016F

.000

07/01/37

4,270,247

2,650,000

(a) Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

McLean

Affiliates,

Series

2020A

.000

01/01/45

2,259,493

730,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

The

Jerome

Home

Issue,

Series

2021E

.000

07/01/41

626,623

1,250,000

Connecticut

Health

and

Educational

Facilities

Authority,

Revenue

Bonds,

The

Jerome

Home

Issue,

Series

2021E

.000

07/01/51

951,145

TOTAL

LONG-TERM

CARE

12,495,422

TAX

OBLIGATION/GENERAL

-

22.5%

2,000,000

Bridgeport,

Connecticut,

General

Obligation

Bonds,

Series

2016D

-

AGM

Insured

.000

08/15/41

2,003,622

1,000,000

Bridgeport,

Connecticut,

General

Obligation

Bonds,

Series

2024A

-

BAM

Insured

.000

07/01/44

1,032,827

1,000,000

Connecticut

Housing

Finance

Authority,

State

Supported

Special

Obligation

Bonds,

Series

2021-27

.400

06/15/41

698,793

1,000,000

Connecticut

Housing

Finance

Authority,

State

Supported

Special

Obligation

Bonds,

Series

2021-27

.550

06/15/46

655,813

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### Connecticut

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

1,000,000

Connecticut

Housing

Finance

Authority,

State

Supported

Special

Obligation

Bonds,

Series

2021-28

.375

%

06/15/40

$

728,107

2,370,000

Connecticut

State,

General

Obligation

Bonds,

Series

2015F

.000

11/15/34

2,377,914

1,000,000

Connecticut

State,

General

Obligation

Bonds,

Series

2017A

.000

04/15/34

1,025,849

3,270,000

Connecticut

State,

General

Obligation

Bonds,

Series

2017A

.000

04/15/35

3,349,413

1,510,000

Connecticut

State,

General

Obligation

Bonds,

Series

2018A

.000

04/15/37

1,555,647

1,325,000

Connecticut

State,

General

Obligation

Bonds,

Series

2018C

.000

06/15/38

1,356,851

1,450,000

Connecticut

State,

General

Obligation

Bonds,

Series

2019A

.000

04/15/37

1,443,849

650,000

Connecticut

State,

General

Obligation

Bonds,

Series

2019A

.000

04/15/39

669,852

2,000,000

Connecticut

State,

General

Obligation

Bonds,

Series

2020A

.000

01/15/37

2,001,330

2,000,000

Connecticut

State,

General

Obligation

Bonds,

Series

2021A

-

BAM

Insured

.000

01/15/40

1,644,501

500,000

Connecticut

State,

General

Obligation

Bonds,

Series

2024D

.000

05/01/41

480,376

2,000,000

Connecticut

State,

General

Obligation

Bonds,

Series

2024D

.000

05/01/42

2,106,846

1,000,000

Connecticut

State,

General

Obligation

Bonds,

Series

2024D

.000

05/01/44

1,046,047

225,000

Connecticut

State,

General

Obligation

Bonds,

Social

Series

2024G

.000

11/15/43

173,031

300,000

East

Haddam,

Connecticut,

General

Obligation

Bonds,

Series

2020A

.000

12/01/37

262,544

325,000

East

Lyme,

Connecticut,

General

Obligation

Bonds,

Series

2020

.000

07/15/40

260,461

1,035,000

Hartford

County

Metropolitan

District,

Connecticut,

General

Obligation

Bonds,

Series

2018

.000

07/15/35

1,078,288

1,075,000

Hartford

County

Metropolitan

District,

Connecticut,

General

Obligation

Bonds,

Series

2019A

.000

07/15/39

1,037,471

3,000,000

Hartford

County

Metropolitan

District,

Connecticut,

General

Obligation

Bonds,

Series

2023

.000

08/01/43

2,804,494

2,285,000

Naugatuck,

Connecticut,

General

Obligation

Bonds,

Tax

Increment

Series

2023

.250

10/15/48

2,374,179

1,000,000

Naugatuck,

Connecticut,

General

Obligation

Bonds,

Tax

Increment

Series

2023

.625

10/15/53

954,936

5,000,000

New

Britain,

Connecticut,

General

Obligation

Bonds,

Series

2022A

-

BAM

Insured

.000

03/01/47

5,075,426

1,000,000

New

Haven,

Connecticut,

General

Obligation

Bonds,

Refunding

Series

2016A

-

AGM

Insured

.000

08/15/36

1,012,267

795,000

New

Haven,

Connecticut,

General

Obligation

Bonds,

Series

2015

-

AGM

Insured

.000

09/01/32

797,676

1,620,000

New

Haven,

Connecticut,

General

Obligation

Bonds,

Series

2015

-

AGM

Insured

.000

09/01/33

1,624,912

500,000

New

Haven,

Connecticut,

General

Obligation

Bonds,

Series

2015

-

AGM

Insured

.000

09/01/35

501,255

1,035,000

Oxford,

Connecticut,

General

Obligation

Bonds,

Series

2019A

.000

08/01/39

1,008,018

2,370,000

Stratford,

Connecticut,

General

Obligation

Bonds,

Series

2017

-

BAM

Insured

.000

01/01/39

2,296,143

555,000

Waterbury,

Connecticut,

General

Obligation

Bonds,

Lot

A

Series

2015

-

BAM

Insured

.000

08/01/30

556,855

485,000

Waterbury,

Connecticut,

General

Obligation

Bonds,

Lot

A

Series

2015

-

BAM

Insured

.000

08/01/31

486,548

765,000

Waterbury,

Connecticut,

General

Obligation

Bonds,

Lot

A

Series

2015

-

BAM

Insured

.000

08/01/32

767,303

555,000

Waterbury,

Connecticut,

General

Obligation

Bonds,

Lot

A

Series

2015

-

BAM

Insured

.000

08/01/33

556,565

555,000

Waterbury,

Connecticut,

General

Obligation

Bonds,

Lot

A

Series

2015

-

BAM

Insured

.000

08/01/34

556,444

750,000

West

Haven,

Connecticut,

General

Obligation

Bonds,

Series

2020

-

BAM

Insured

.000

03/15/40

701,919

TOTAL

TAX

OBLIGATION/GENERAL

49,064,372

TAX

OBLIGATION/LIMITED

-

19.8%

1,685,000

Connecticut

Higher

Education

Supplemental

Loan

Authority,

State

Supported

Revenue

Bonds,

CHESLA

Loan

Program,

Series

2020B,

(AMT)

.250

11/15/36

1,506,222

1,390,000

Connecticut

State,

Special

Tax

Obligation

Bonds,

Transportation

Infrastructure

Purposes

Series

2015A

.000

08/01/33

1,391,798

1,000,000

Connecticut

State,

Special

Tax

Obligation

Bonds,

Transportation

Infrastructure

Purposes

Series

2016A

.000

09/01/32

1,019,309

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

3,500,000

Connecticut

State,

Special

Tax

Obligation

Bonds,

Transportation

Infrastructure

Purposes

Series

2016A

.000

%

09/01/33

$

3,561,827

2,000,000

Connecticut

State,

Special

Tax

Obligation

Bonds,

Transportation

Infrastructure

Purposes

Series

2018A

.000

01/01/37

2,051,768

2,000,000

Connecticut

State,

Special

Tax

Obligation

Bonds,

Transportation

Infrastructure

Purposes

Series

2018A

.000

01/01/38

2,044,498

1,500,000

Connecticut

State,

Special

Tax

Obligation

Bonds,

Transportation

Infrastructure

Purposes,

Series

2021A

.000

05/01/40

1,431,912

2,080,000

Connecticut

State,

Special

Tax

Obligation

Bonds,

Transportation

Infrastructure

Purposes,

Series

2023A

.250

07/01/44

2,208,715

3,350,000

Connecticut

State,

Special

Tax

Obligation

Bonds,

Transportation

Infrastructure

Purposes,

Series

2024A-2

.000

07/01/43

3,526,105

965,000

(a) Great

Pond

Improvement

District,

Connecticut,

Special

Obligation

Revenue

Bonds,

Great

Pond

Phase

Project,

Series

2019

.750

10/01/48

869,368

500,000

(a) Great

Pond

Improvement

District,

Connecticut,

Special

Obligation

Revenue

Bonds,

Great

Pond

Phase

Project,

Series

2022

.750

10/01/52

502,253

3,720,000

(a) Harbor

Point

Infrastructure

Improvement

District,

Connecticut,

Special

Obligation

Revenue

Bonds,

Harbor

Point

Project,

Refunding

Series

2017

.000

04/01/39

3,727,310

635,000

Matching

Fund

Special

Purpose

Securitization

Corporation,

Virgin

Islands,

Revenue

Bonds,

Series

2022A

.000

10/01/39

609,600

1,825,000

Naugatuck,

Connecticut,

Certificates

of

Participation,

Incineration

Facilities

Project,

Series

2021A,

(AMT)

.000

08/15/41

1,603,502

1,860,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.000

07/01/46

597,124

4,250,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.750

07/01/53

3,892,128

1,000,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.000

07/01/58

939,556

1,000,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

Series

2019A-2B

.550

07/01/40

954,024

2,050,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

.784

07/01/58

1,837,840

100,000

Steel

Point

Infrastructure

Improvement

District,

Connecticut,

Special

Obligation

Revenue

Bonds,

Steelpointe

Harbor

Project,

Series

2021

.000

04/01/51

80,615

500,000

(a) Steel

Point

Infrastructure

Improvement

District,

Connecticut,

Special

Obligation

Revenue

Bonds,

Steelpointe

Harbor

Project,

Series

2024

.000

04/01/52

520,573

1,590,000

University

of

Connecticut,

General

Obligation

Bonds,

Series

2015A

.000

02/15/34

1,591,649

3,000,000

University

of

Connecticut,

General

Obligation

Bonds,

Series

2017A

.000

01/15/36

3,060,180

1,000,000

University

of

Connecticut,

General

Obligation

Bonds,

Series

2019A

.000

11/01/36

1,037,033

1,000,000

University

of

Connecticut,

General

Obligation

Bonds,

Series

2019A

.000

11/01/38

981,604

420,000

University

of

Connecticut,

General

Obligation

Bonds,

Series

2023A

.000

08/15/43

436,006

1,250,000

(b) Virgin

Islands

Transportation

&

Infrastructure

Corporation,

Virgin

Islands,

Grant

Anticipation

Revenue

Bonds,

Federal

Highway

Grant

Anticipation

Revenue

Loan

Note,

Series

2025

.000

09/01/41

1,293,309

TOTAL

TAX

OBLIGATION/LIMITED

43,275,828

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 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

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

-

3.4%

$

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

$

1,282,806

6,125,000

Connecticut

Airport

Authority,

Connecticut,

Customer

Facility

Charge

Revenue

Bonds,

Ground

Transportation

Center

Project,

Series

2019A,

(AMT)

.000

07/01/49

5,994,453

100,000

Guam

A.B.

Won

Pat International

Airport

Authority,

Revenue

Bonds,

Series

2024A,

(AMT)

.250

10/01/41

102,147

TOTAL

TRANSPORTATION

7,379,406

UTILITIES

-

7.0%

60,000

Greater

New

Haven

Water

Pollution

Control

Authority,

Connecticut,

Regional

Wastewater

System

Revenue

Bonds,

Series

2005A

-

NPFG

Insured

.000

08/15/35

60,036

1,000,000

Guam

Government

Waterworks

Authority,

Water

and

Wastewater

System

Revenue

Bonds,

Refunding

Series

2017

.000

07/01/37

1,006,347

1,000,000

Guam

Government

Waterworks

Authority,

Water

and

Wastewater

System

Revenue

Bonds,

Refunding

Series

2017

.000

07/01/40

1,000,994

295,000

Guam

Government

Waterworks

Authority,

Water

and

Wastewater

System

Revenue

Bonds,

Series

2020A

.000

01/01/50

282,527

200,000

Guam

Power

Authority,

Revenue

Bonds,

Refunding

Series

2024A

.000

10/01/43

203,630

1,555,000

Hartford

County

Metropolitan

District,

Connecticut,

Clean

Water

Project

Revenue

Bonds,

Series

2024

.000

10/01/36

1,586,658

1,795,000

Hartford

County

Metropolitan

District,

Connecticut,

Clean

Water

Project

Revenue

Bonds,

Series

2024

.000

10/01/37

1,807,228

1,000,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2020A

.000

07/01/47

948,903

2,000,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021B

.000

07/01/33

2,047,753

2,540,000

South

Central

Connecticut

Regional

Water

Authority,

Connecticut,

Water

System

Revenue

Bonds,

Thirty-Ninth

Series

2025A

.000

08/01/54

2,614,709

2,685,000

South

Central

Connecticut

Regional

Water

Authority,

Connecticut,

Water

System

Revenue

Bonds,

Thirty-Seventh

Series

2023A-1

.000

08/01/51

2,766,830

500,000

Stamford,

Connecticut,

Water

Pollution

Control

System

and

Facility

Revenue

Bonds,

Series

2013A

.250

08/15/43

500,511

500,000

Stamford,

Connecticut,

Water

Pollution

Control

System

and

Facility

Revenue

Bonds,

Series

2019

.000

04/01/44

460,882

TOTAL

UTILITIES

15,287,008

TOTAL

MUNICIPAL

BONDS

(Cost

$222,320,513)

210,407,230

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$222,320,513)

210,407,230

OTHER

ASSETS

&

LIABILITIES,

NET

-

3.7%

8,016,731

NET

ASSETS

-

100%

$

218,423,961

AMT

Alternative

Minimum

Tax

(a) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

reporting

period,

the

aggregate

value

of

these

securities

is

$14,902,136

or

7.1%

of

Total

Investments.

(b) When-issued

or

delayed

delivery

security.

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

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

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:

Connecticut

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

210,407,230

$

–

$

210,407,230

Total

$

–

$

210,407,230

$

–

$

210,407,230

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025

#### Massachusetts

#### Municipal

#### Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

99.8%

X

384,927,226

MUNICIPAL

BONDS

-

99.8%

X

–

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

27.1%

$

2,065,000

Lowell,

Massachusetts,

Collegiate

Charter

School

Revenue

Bonds,

Series

2019

.000

%

06/15/39

$

2,044,916

1,750,000

Lowell,

Massachusetts,

Collegiate

Charter

School

Revenue

Bonds,

Series

2019

.000

06/15/49

1,643,736

1,260,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Berklee

College

of

Music,

Series

2016

.000

10/01/39

1,268,341

5,165,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Berklee

College

of

Music,

Series

2016

.000

10/01/46

5,173,937

2,350,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Boston

College,

Series

2017T

.000

07/01/39

2,392,497

1,020,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Boston

College,

Series

2017T

.000

07/01/42

1,031,610

4,545,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Boston

University,

Refunding

Series

2025B-2

.000

10/01/48

4,712,273

1,195,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Brandeis

University

Issue,

Series

2018R

.000

10/01/37

1,235,434

840,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Brandeis

University

Issue,

Series

2018R

.000

10/01/38

865,035

1,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Brandeis

University

Issue,

Series

2018R

.000

10/01/39

1,026,531

1,510,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Emerson

College,

Series

2016A

.250

01/01/42

1,513,273

1,500,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Emerson

College,

Series

2016A

.000

01/01/47

1,454,412

1,600,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Emerson

College,

Series

2017A

.000

01/01/37

1,621,472

6,020,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Emerson

College,

Series

2017A

.000

01/01/40

6,044,860

2,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Emerson

College,

Series

2018

.000

01/01/43

1,987,538

680,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Emerson

College,

Series

2025

.250

01/01/44

701,133

2,500,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Emmanuel

College,

Series

2016A

.000

10/01/43

2,320,203

2,055,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Lesley

University,

Series

2016

.000

07/01/36

2,061,895

550,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

MCPHS

University

Issue,

Series

2015H

.500

07/01/35

507,072

235,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

MCPHS

University

Issue,

Series

2015H

.000

07/01/37

235,174

700,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Merrimack

College,

Series

2017

.000

07/01/37

702,061

1,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Merrimack

College,

Series

2022

.000

07/01/52

930,138

1,220,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Middlesex

School,

Series

2024

.250

07/01/54

1,071,175

2,080,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Northeastern

University,

Series

2022

.000

10/01/44

2,139,601

2,495,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Sterling

and

Francine

Clark

Art

Institute,

Series

2015

.000

07/01/33

2,496,171

2,415,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Sterling

and

Francine

Clark

Art

Institute,

Series

2016

.000

07/01/41

2,264,184

610,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Suffolk

University,

Refunding

Series

2019

.000

07/01/37

609,235

875,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Tufts

University,

Series

2015Q

.000

08/15/38

876,821

3,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Wentworth

Institute

of

Technology,

Series

2017

.000

10/01/46

2,809,200

1,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Wheaton

College,

Series

2017H

.000

01/01/37

1,010,505

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

$

1,020,874

1,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Woods

Hole

Oceanographic

Institution,

Series

2018

.000

06/01/38

1,016,306

6,210,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Woods

Hole

Oceanographic

Institution,

Series

2018

.000

06/01/48

6,150,400

5,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Worcester

Polytechnic

Institute,

Series

2017B

.000

09/01/42

5,010,346

7,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Worcester

Polytechnic

Institute,

Series

2017B

.000

09/01/45

6,912,888

745,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Worcester

Polytechnic

Institute,

Series

2019

.000

09/01/33

784,717

3,000,000

Massachusetts

Development

Finance

Authority,

Revenue

Bonds,

Olin

College,

Refunding

Series

2023G

.250

11/01/51

3,060,983

700,000

Massachusetts

Development

Finance

Authority,

Revenue

Bonds,

Suffolk

University,

Refunding

Series

2017

.000

07/01/35

700,050

500,000

Massachusetts

Development

Finance

Authority,

Revenue

Bonds,

Suffolk

University,

Refunding

Series

2017

.000

07/01/36

498,540

2,345,000

Massachusetts

Development

Finance

Authority,

Revenue

Bonds,

WGBH

Educational

Foundation,

Refunding

Series

2016

.000

01/01/36

2,361,601

2,100,000

Massachusetts

Development

Finance

Authority,

Revenue

Bonds,

WGBH

Educational

Foundation,

Series

2002A

-

AMBAC

Insured

.750

01/01/42

2,379,388

1,000,000

Massachusetts

Educational

Financing

Authority,

Student

Loan

Revenue

Bonds,

Issue

I

Series

2014,

(AMT)

.000

01/01/27

1,001,327

3,355,000

University

of

Massachusetts

Building

Authority,

Project

Revenue

Bonds,

Senior

Series

2015-1

.000

11/01/40

3,361,020

5,550,000

University

of

Massachusetts

Building

Authority,

Project

Revenue

Bonds,

Senior

Series

2022-1

.000

11/01/46

4,921,242

10,605,000

University

of

Massachusetts

Building

Authority,

Project

Revenue

Bonds,

Senior

Series

2022-1

.000

11/01/52

10,754,993

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

104,685,108

HEALTH

CARE

-

23.4%

1,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Baystate

Medical

Center

Issue,

Series

2014N

.000

07/01/34

1,000,613

5,700,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Baystate

Medical

Center

Issue,

Series

2014N

.000

07/01/44

5,699,605

10,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Boston

Children's

Hospital

Series

2024T

.250

03/01/54

10,318,152

7,800,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Boston

Medical

Center

Issue,

Green

Bonds,

Series

2015D

.000

07/01/44

7,575,363

2,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Boston

Medical

Center

Issue,

Series

2016E

.000

07/01/32

2,002,404

3,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Boston

Medical

Center

Issue,

Series

2023G

.250

07/01/48

2,971,697

9,500,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Boston

Medical

Center

Issue,

Series

2023G

.250

07/01/52

9,273,350

1,675,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

CareGroup

Issue,

Refunding

Series

2016-I

.000

07/01/30

1,693,654

1,500,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

CareGroup

Issue,

Refunding

Series

2016-I

.000

07/01/37

1,505,017

1,935,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

CareGroup

Issue,

Refunding

Series

2016-I

.000

07/01/38

1,938,906

900,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

CareGroup

Issue,

Series

2015H-1

.000

07/01/30

900,622

1,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

CareGroup

Issue,

Series

2015H-1

.000

07/01/32

1,000,462

500,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

CareGroup

Issue,

Series

2015H-1

.000

07/01/33

500,159

4,100,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

CareGroup

Issue,

Series

2018J-2

.000

07/01/48

4,010,192

6,100,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Dana-Farber

Cancer

Institute

Issue,

Series

2016N

.000

12/01/46

6,018,338

2,645,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Lahey

Health

System

Obligated

Group

Issue,

Series

2015F

.000

08/15/35

2,645,543

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### Massachusetts

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

5,325,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Lahey

Health

System

Obligated

Group

Issue,

Series

2015F

.000

%

08/15/45

$

5,170,238

6,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Mass

General

Brigham,

Series

2024D

.000

07/01/47

6,067,499

1,250,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Partners

HealthCare

System

Issue,

Series

2016Q

.000

07/01/41

1,119,302

4,710,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Partners

HealthCare

System

Issue,

Series

2016Q

.000

07/01/47

4,661,038

2,200,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Partners

HealthCare

System

Issue,

Series

2017S-1

.000

07/01/37

2,236,878

1,750,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Southcoast

Health

System

Obligated

Group

Issue,

Series

2013F

.000

07/01/27

1,751,518

1,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Southcoast

Health

System

Obligated

Group

Issue,

Series

2013F

.000

07/01/37

1,000,438

3,800,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

The

Lowell

General

Hospital,

Series

2013G

.000

07/01/44

3,492,754

890,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

UMass

Memorial

Health

Care

Obligated

Group

Issue,

Series

2017K

.000

07/01/38

897,070

400,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

UMass

Memorial

Health

Care

Obligated

Group

Issue,

Series

2017L

.625

07/01/37

344,413

1,855,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

UMass

Memorial

Health

Care

Obligated

Group

Issue,

Series

2017L

.000

07/01/44

1,821,321

2,065,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

UMass

Memorial

Issue

Series

2025N-1

.250

07/01/50

2,085,862

500,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Wellforce

Issue,

Series

2019A

.000

07/01/44

472,912

TOTAL

HEALTH

CARE

90,175,320

HOUSING/MULTIFAMILY

-

1.7%

4,923,126

Massachusetts

Development

Finance

Agency,

Multifamily

Housing

Revenue

Bonds,

Salem

Heights

II

Preservation

Associates

LP,

Social

Series

2021A

.300

01/01/42

3,303,479

500,000

(a) Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

CHF

Merrimack,

Inc.

Merrimack

College

Student

Housing

Project,

Series

2024A

.250

07/01/34

489,294

200,000

(a) Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

CHF

Merrimack,

Inc.

Merrimack

College

Student

Housing

Project,

Series

2024A

.000

07/01/54

183,851

2,685,000

Massachusetts

Housing

Finance

Agency,

Housing

Bonds,

Sustainability

Green

Series

2022C-1

.000

12/01/47

2,703,301

TOTAL

HOUSING/MULTIFAMILY

6,679,925

LONG-TERM

CARE

-

1.0%

1,910,000

(a) Massachusetts

Development

Finance

Agency

Revenue

Refunding

Bonds,

NewBridge

on

the

Charles,

Inc.

Issue,

Series

2017

.125

10/01/42

1,655,565

275,000

(a) Massachusetts

Development

Finance

Agency

Revenue

Refunding

Bonds,

NewBridge

on

the

Charles,

Inc.

Issue,

Series

2017

.000

10/01/47

255,265

560,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Berkshire

Retirement

Community

Lennox,

Series

2015

.000

07/01/31

560,361

400,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Orchard

Cove,

Inc.,

Refunding

Series

2019

.000

10/01/39

403,955

1,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Salem

Community

Corporation,

Refunding

Series

2022

.250

01/01/50

885,507

TOTAL

LONG-TERM

CARE

3,760,653

TAX

OBLIGATION/GENERAL

-

21.2%

825,000

Andover,

Massachusetts,

General

Obligation

Bonds,

Municipal

Purpose

Loan

Series

2022

.000

07/15/42

796,893

3,800,000

(b) Boston,

Massachusetts,

General

Obligation

Bonds,

Series

2025A

.000

02/01/45

4,001,275

1,440,000

Central

Berkshire

Regional

School

District,

Dalton,

Massachusetts,

General

Obligation

Bonds,

State

Qualified

Series

2019

.000

06/01/39

1,197,563

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

4,000,000

East

Longmeadow,

Massachusetts,

General

Obligation

Bonds,

Municipal

Purpose

Loan

Series

2024

.000

%

11/01/54

$

3,468,858

1,740,000

Hudson,

Massachusetts,

General

Obligation

Bonds,

Municipal

Purpose

Loan

Series

2011

.000

02/15/32

1,742,063

7,400,000

Lincoln,

Massachusetts,

General

Obligation

Bonds,

School

Series

2019

.000

03/01/49

6,756,927

2,000,000

Massachusetts

Development

Finance

Agency,

Special

Obligation

Bonds,

Commonwealth

Contract Assistance,

Series

2015A

.000

05/01/45

1,845,843

3,000,000

Massachusetts

State,

General

Obligation

Bonds,

Consolidated

Loan,

Series

2015C

.000

07/01/45

2,999,761

5,000,000

Massachusetts

State,

General

Obligation

Bonds,

Consolidated

Loan,

Series

2018A

.000

01/01/47

5,035,087

1,775,000

Massachusetts

State,

General

Obligation

Bonds,

Consolidated

Loan,

Series

2019A

.000

01/01/49

1,791,988

8,335,000

Massachusetts

State,

General

Obligation

Bonds,

Consolidated

Loan,

Series

2019C

.000

05/01/45

8,463,386

7,000,000

Massachusetts

State,

General

Obligation

Bonds,

Consolidated

Loan,

Series

2022C

.250

10/01/47

7,330,343

15,000,000

Massachusetts

State,

General

Obligation

Bonds,

Consolidated

Series

2022E

.000

11/01/52

15,204,595

1,000,000

North

Reading,

Massachusetts,

General

Obligation

Bonds,

Municipal

Purpose

Loan

Series

2012

.000

05/15/35

1,000,955

1,685,000

Northeast

Metropolitan

Regional

Vocational

Technical

School

District,

Massachusetts,

General

Obligation

Bonds,

School

Series

2022

.000

04/15/47

1,498,084

1,965,000

Northeast

Metropolitan

Regional

Vocational

Technical

School

District,

Massachusetts,

General

Obligation

Bonds,

School

Series

2024

.000

05/15/46

1,761,087

1,950,000

Pentucket

Regional

School

District,

Massachusetts,

General

Obligation

Bonds,

Series

2019

.000

09/01/42

1,506,016

3,000,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

.000

07/01/46

2,467,458

3,000,000

Quincy,

Massachusetts,

General

Obligation

Bonds,

Municipal

Purpose

Loan

Series

2022B

.000

07/01/47

3,092,476

1,500,000

Quincy,

Massachusetts,

General

Obligation

Bonds,

Municipal

Purpose

Loan

Series

2022B

.000

07/01/51

1,531,686

5,535,000

Taunton,

Massachusetts,

General

Obligation

Bonds,

Municipal

Purpose

Loan

Series

2024

.000

03/01/51

4,872,384

3,440,000

Webster,

Massachusetts,

General

Obligation

Bonds,

Qualified

School

Project,

Chapter

70B,

Loan

Series

2022

.000

12/01/42

3,260,201

TOTAL

TAX

OBLIGATION/GENERAL

81,624,929

TAX

OBLIGATION/LIMITED

-

15.4%

1,000,000

Government

of

Guam,

Business

Privilege

Tax

Bonds,

Refunding

Series

2015D

.000

11/15/39

984,880

1,160,000

Guam

Government,

Limited

Obligation

Section

Revenue

Bonds,

Series

2016A

.000

12/01/31

1,176,211

2,000,000

Guam

Government,

Limited

Obligation

Section

Revenue

Bonds,

Series

2016A

.000

12/01/46

1,977,077

1,010,000

Martha's

Vineyard

Land

Bank,

Massachusetts,

Revenue

Bonds,

Refunding

Green

Series

2014

-

BAM

Insured

.000

05/01/33

1,013,607

500,000

Martha's

Vineyard

Land

Bank,

Massachusetts,

Revenue

Bonds,

Refunding

Green

Series

2017

-

BAM

Insured

.000

05/01/36

512,024

2,500,000

Massachusetts

Bay

Transportation

Authority,

Sales

Tax

Revenue

Bonds,

Senior

Series

2023A-1

.250

07/01/53

2,593,099

5,000,000

Massachusetts

Bay

Transportation

Authority,

Sales

Tax

Revenue

Bonds,

Senior

Sustainability

Series

2024B

.250

07/01/54

5,222,919

2,050,000

Massachusetts

Bay

Transportation

Authority,

Sales

Tax

Revenue

Bonds,

Subordinated

Series

2017A-2

.000

07/01/44

2,060,756

3,065,000

Massachusetts

Bay

Transportation

Authority,

Sales

Tax

Revenue

Bonds,

Subordinated

Series

2017A-2

.000

07/01/46

3,074,473

4,330,000

Massachusetts

Bay

Transportation

Authority,

Sales

Tax

Revenue

Bonds,

Subordinated

Series

2021A-1

.000

07/01/39

4,193,247

650,000

Massachusetts

School

Building

Authority,

Dedicated

Sales

Tax

Revenue

Bonds,

Refunding

Senior

Series

2015C

.000

08/15/37

649,966

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### Massachusetts

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

3,020,000

Massachusetts

School

Building

Authority,

Dedicated

Sales

Tax

Revenue

Bonds,

Senior

Social

Series

2020A

.000

%

08/15/50

$

3,059,803

3,000,000

Massachusetts

State,

Special

Obligation

Dedicated

Tax

Revenue

Bonds,

Refunding

Series

2005

-

NPFG

Insured

.500

01/01/34

3,352,086

8,180,000

Massachusetts

State,

Transportation

Fund

Revenue

Bonds,

Rail

Enhancement

&

Accelerated

Bridge

Programs,

Series

2017A

.000

06/01/47

8,212,894

5,540,000

Massachusetts

State,

Transportation

Fund

Revenue

Bonds,

Rail

Enhancement

&

Accelerated

Bridge

Programs,

Series

2019A

.000

06/01/49

5,592,844

1,665,000

Massachusetts

State,

Transportation

Fund

Revenue

Bonds,

Refunding

Series

2021A

.000

06/01/42

1,730,273

1,510,000

Matching

Fund

Special

Purpose

Securitization

Corporation,

Virgin

Islands,

Revenue

Bonds,

Series

2022A

.000

10/01/39

1,449,600

3,177,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.550

07/01/40

3,030,934

4,725,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.750

07/01/53

4,327,131

5,840,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

.784

07/01/58

5,235,603

TOTAL

TAX

OBLIGATION/LIMITED

59,449,427

TRANSPORTATION

-

2.8%

1,500,000

Massachusetts

Port

Authority,

Revenue

Bonds,

Refunding

Series

2017A,

(AMT)

.000

07/01/42

1,502,211

1,780,000

Massachusetts

Port

Authority,

Revenue

Bonds,

Series

2014A

.000

07/01/34

1,780,673

1,425,000

Massachusetts

Port

Authority,

Revenue

Bonds,

Series

2015A

.000

07/01/40

1,419,535

3,500,000

Massachusetts

Port

Authority,

Revenue

Bonds,

Series

2019C,

(AMT)

.000

07/01/49

3,458,700

2,500,000

Massachusetts

Port

Authority,

Revenue

Bonds,

Series

2021E,

(AMT)

.000

07/01/46

2,490,222

TOTAL

TRANSPORTATION

10,651,341

U.S.

GUARANTEED

-

2.0%

(c) 6,000,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Atrius

Health

Issue,

Series

2019A,

(Pre-refunded

6/01/29)

.000

06/01/39

6,488,201

100,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Milford

Regional

Medical

Center

Issue,

Series

2020G,

(ETM)

.000

07/15/30

108,928

100,000

Massachusetts

Development

Finance

Agency,

Revenue

Bonds,

Milford

Regional

Medical

Center

Issue,

Series

2020G,

(Pre-

refunded

7/15/30)

.000

07/15/37

108,929

1,000,000

Massachusetts

Water

Resources

Authority,

General

Revenue

Bonds,

Series

2016B,

(Pre-refunded

8/01/26)

.000

08/01/40

1,025,978

TOTAL

U.S.

GUARANTEED

7,732,036

UTILITIES

-

5.2%

4,000,000

Boston

Water

and

Sewer

Commission,

Massachusetts,

General

Revenue

Bonds,

Senior

Series

2018A

.000

11/01/40

3,902,584

2,805,000

Guam

Government

Waterworks

Authority,

Water

and

Wastewater

System

Revenue

Bonds,

Refunding

Series

2017

.000

07/01/40

2,807,789

920,000

Guam

Government

Waterworks

Authority,

Water

and

Wastewater

System

Revenue

Bonds,

Series

2016

.000

01/01/46

889,311

2,500,000

Guam

Government

Waterworks

Authority,

Water

and

Wastewater

System

Revenue

Bonds,

Series

2020A

.000

01/01/50

2,394,295

1,650,000

Massachusetts

Clean

Water

Trust,

State

Revolving

Fund

Bonds,

Green

23B

Series

2021

.000

02/01/41

1,724,153

1,310,000

Massachusetts

Municipal

Wholesale

Electric

Company,

MMWEC,

Revenue

Bonds,

Project

2015A,

Series

2021A

.000

07/01/40

1,253,177

1,400,000

Massachusetts

Municipal

Wholesale

Electric

Company,

MMWEC,

Revenue

Bonds,

Project

2015A,

Series

2021A

.000

07/01/41

1,320,206

2,000,000

Massachusetts

Municipal

Wholesale

Electric

Company,

MMWEC,

Revenue

Bonds,

Project

2015A,

Series

2021A

.000

07/01/46

1,801,536

3,000,000

(a) Puerto

Rico

Aqueduct

and

Sewerage

Authority,

Revenue

Bonds,

Refunding

Senior

Lien

Series

2021B

.000

07/01/37

3,035,243

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

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

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)

$

1,010,000

Springfield

Water

and

Sewer

Commission,

Massachusetts,

General

Revenue

Bonds,

Series

2017C

.000

%

04/15/33

$

1,040,193

TOTAL

UTILITIES

20,168,487

TOTAL

MUNICIPAL

BONDS

(Cost

$397,342,760)

384,927,226

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$397,342,760)

384,927,226

BORROWINGS

-

(0.5)%

(d),(e)

(1,800,000)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.7%

2,520,740

NET

ASSETS

-

100%

$

385,647,966

AMT

Alternative

Minimum

Tax

ETM

Escrowed

to

maturity

(a) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

reporting

period,

the

aggregate

value

of

these

securities

is

$5,619,218

or

1.5%

of

Total

Investments.

(b) When-issued

or

delayed

delivery

security.

(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) Borrowings

as

a

percentage

of

Total

Investments

is

0.5%.

(e) The

Fund

may

pledge

up

to

100%

of

its

eligible

investments

(excluding

any

investments

separately

pledged

as

collateral

for

specific

investments

in

derivatives

or

inverse

floating

rate

transactions,

when

applicable)

in

the

Portfolio

of

Investments

as

collateral

for

borrowings.

Massachusetts

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

384,927,226

$

–

$

384,927,226

Total

$

–

$

384,927,226

$

–

$

384,927,226

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025

#### New

#### Jersey

#### Municipal

#### Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

99.0%

X

317,705,664

MUNICIPAL

BONDS

-

99.0%

X

–

CONSUMER

STAPLES

-

3.6%

$

3,460,000

Tobacco

Settlement

Financing

Corporation,

New

Jersey,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2018A

.000

%

06/01/37

$

3,227,749

3,590,000

Tobacco

Settlement

Financing

Corporation,

New

Jersey,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2018A

.000

06/01/46

3,544,963

4,890,000

Tobacco

Settlement

Financing

Corporation,

New

Jersey,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2018B

.000

06/01/46

4,694,540

TOTAL

CONSUMER

STAPLES

11,467,252

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

16.2%

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

1,077,141

715,000

Camden

County

Improvement

Authority,

New

Jersey,

School

Revenue

Bonds,

KIPP:

Cooper

Norcross

Academy

2022

Project,

Social

Series

2022

.000

06/15/62

733,441

1,000,000

Essex

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Revenue

Bonds,

Institute

of

Technology

CHF-

Newark,

LLC-NJIT

Student

Housing

Project,

Series

2021A

-

BAM

Insured

.000

08/01/60

856,677

1,050,000

Gloucester

County

Improvement

Authority,

New

Jersey,

Revenue

Bonds,

Rowan

University

Project,

County

Gauranteed

Loan,

Series

2019

.000

07/01/44

1,069,175

1,080,000

Gloucester

County

Improvement

Authority,

New

Jersey,

Revenue

Bonds,

Rowan

University

Project,

County

Guaranteed

Loan,

Series

2024

-

BAM

Insured

.000

07/01/49

1,097,055

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

1,009,833

225,000

New

Jersey

Economic

Development

Authority,

Charter

School

Revenue

Bonds,

Foundation

Academy

Charter

School,

Series

2018A

.000

07/01/38

219,029

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

2,639,978

100,000

New

Jersey

Economic

Development

Authority,

Charter

School

Revenue

Bonds,

North

Star

Academy

Charter

School

of

Newark,

Series

2017

.000

07/15/47

97,174

100,000

(a) New

Jersey

Economic

Development

Authority,

Charter

School

Revenue

Bonds,

Teaneck

Community

Charter

School,

Series

2017A

.125

09/01/52

94,437

355,000

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

The

Seeing

Eye

Inc.,

Refunding

Series

2017

.000

06/01/32

337,626

195,000

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

The

Seeing

Eye

Inc.,

Refunding

Series

2017

.000

06/01/32

200,746

1,145,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

College

of

New

Jersey,

Refunding

Series

2016F

.000

07/01/40

902,023

950,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Kean

University,

Refunding

Series

2015H

-

AGM

Insured

.000

07/01/39

916,185

1,000,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Montclair

State

University,

Refunding

Series

2015D

.000

07/01/31

1,000,938

1,055,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Montclair

State

University,

Refunding

Series

2015D

.750

07/01/33

1,040,517

2,150,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Montclair

State

University,

Refunding

Series

2024A

-

AGM

Insured

.000

07/01/43

2,231,211

1,125,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Princeton

University,

Refunding

Series

2017I

.000

07/01/35

1,153,879

2,000,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Princeton

University,

Refunding

Series

2024C

.000

03/01/26

2,032,543

2,000,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Princeton

University,

Series

2024A-1

.000

03/01/37

2,190,850

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

$

2,083,942

1,350,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Princeton

University,

Series

2025A,

(Mandatory

Put

7/01/35)

.000

07/01/64

1,493,723

360,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Rider

University,

Series 2017F

.750

07/01/37

265,158

1,370,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Rider

University,

Series 2017F

.000

07/01/42

944,232

2,265,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Rider

University,

Series 2017F

.000

07/01/47

1,681,859

1,000,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Seton

Hall

University,

Refunding

Series

2015C

.000

07/01/32

1,000,522

530,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Seton

Hall

University,

Series

2013D

.000

07/01/38

530,015

1,870,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Seton

Hall

University,

Series

2016C

.000

07/01/41

1,431,915

2,430,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Seton

Hall

University,

Series

2016C

.000

07/01/46

1,708,420

1,085,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Seton

Hall

University,

Series

2016C

.000

07/01/46

910,829

1,040,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Seton

Hall

University,

Series

2020C

-

AGM

Insured

.250

07/01/49

794,250

3,225,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Stevens

Institute

of

Technology

Issue,

Green

Series

2020A

.000

07/01/50

2,734,145

500,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Stevens

Institute

of

Technology,

Series

2017A

.000

07/01/47

433,204

380,000

New

Jersey

Educational

Facilities

Authority,

Revenue

Bonds,

Stevens

Institute

of

Technology,

Series

2017A

.000

07/01/47

379,661

695,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Senior

Series

2021B,

(AMT)

.500

12/01/40

631,065

485,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2018A,

(AMT)

.750

12/01/31

480,574

105,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2018A,

(AMT)

.000

12/01/35

104,738

1,375,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2023B,

(AMT)

.000

12/01/44

1,269,625

500,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2024B,

(AMT)

.250

12/01/45

483,570

1,000,000

(b) New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Series

2025-1B,

(AMT)

.500

12/01/45

974,553

1,270,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Refunding

Subordinate

Series

2021C,

(AMT)

.250

12/01/51

839,875

450,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Senior

Lien

Series

2016-1A,

(AMT)

.500

12/01/32

450,631

115,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Senior

Lien

Series

2016-1A,

(AMT)

.000

12/01/39

115,459

80,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Senior

Lien

Series

2017-1A,

(AMT)

.750

12/01/33

79,781

10,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Senior

Lien

Series

2017-1A,

(AMT)

.000

12/01/40

9,950

435,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Senior

Series

2019B,

(AMT)

.250

12/01/39

406,091

400,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Senior

Series

2020B,

(AMT)

.500

12/01/39

380,521

1,740,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Subordinate

Series

2017-C,

(AMT)

.250

12/01/47

1,515,706

1,460,000

New

Jersey

Higher

Education

Student

Assistance

Authority,

Student

Loan

Revenue

Bonds,

Subordinate

Series

2019C,

(AMT)

.625

12/01/49

1,072,669

2,005,000

New

Jersey

Institute

of

Technology,

New

Jersey,

General

Obligation

Bonds,

Series

2015A

.000

07/01/45

2,007,988

1,445,000

New

Jersey

Institute

of

Technology,

New

Jersey,

General

Obligation

Bonds,

Series

2025A

-

BAM

Insured

.000

07/01/45

1,493,679

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### New

#### Jersey

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

1,145,000

New

Jersey

Institute

of

Technology,

New

Jersey,

General

Obligation

Bonds,

Series

2025A

-

BAM

Insured

.250

%

07/01/50

$

1,190,115

1,335,000

Passaic

County

Improvement

Authority,

New

Jersey,

Charter

School

Revenue

Bonds,

Paterson

Arts

&

Science

Charter

School,

Series

2023

.375

07/01/53

1,339,370

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

52,138,293

FINANCIALS

-

0.1%

280,284

New

Jersey

Economic

Development

Authority,

Revenue

Refunding

Bonds,

Kapkowski

Road

Landfill

Project,

Series

2002

.500

04/01/28

289,723

TOTAL

FINANCIALS

289,723

HEALTH

CARE

-

8.5%

1,800,000

New

Jersey

Health

Care

Facilities

Authority,

Revenue

Bonds,

Atlanticare

Health

System

Obligated

Group

Issue,

Series

2021

.375

07/01/46

1,090,582

1,800,000

New

Jersey

Health

Care

Facilities

Authority,

Revenue

Bonds,

Atlanticare

Health

System

Obligated

Group

Issue,

Series

2021

.000

07/01/46

1,322,284

1,000,000

New

Jersey

Health

Care

Facilities

Authority,

Revenue

Bonds,

Atlanticare

Health

System

Obligated

Group

Issue,

Series

2021

.000

07/01/51

686,038

70,000

New

Jersey

Health

Care

Facilities

Finance

Authority,

Revenue

Bonds,

AHS

Hospital

Corporation,

Series

2008A

.000

07/01/27

70,050

1,395,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

AHS

Hospital

Corporation,

Refunding

Series

2016

.000

07/01/41

1,290,040

965,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Hackensack

Meridian

Health

Obligated

Group,

Refunding

Series

2017A

.000

07/01/57

950,787

1,000,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Inspira

Health

Obligated

Group

Issue,

Refunding

Series

2016A

.000

07/01/27

1,017,595

2,105,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Inspira

Health

Obligated

Group

Issue,

Refunding

Series

2016A

.000

07/01/41

1,960,367

2,000,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Inspira

Health

Obligated

Group

Issue,

Series

2017A

.000

07/01/42

1,995,090

1,000,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Inspira

Health

Obligated

Group

Issue,

Series

2024A

.125

07/01/54

860,804

2,000,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Inspira

Health

Obligated

Group

Issue,

Series

2024A

.250

07/01/54

2,028,432

610,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Princeton

HealthCare

System,

Series

2016A

.000

07/01/33

619,107

600,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Princeton

HealthCare

System,

Series

2016A

.000

07/01/34

608,430

1,090,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

RWJ

Barnabas

Health

Obligated

Group,

Refunding

Series

2016A

.000

07/01/43

1,081,083

2,140,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

RWJ

Barnabas

Health

Obligated

Group,

Series

2021A

.000

07/01/45

1,936,624

2,145,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

RWJ

Barnabas

Health

Obligated

Group,

Series

2021A

.000

07/01/51

1,519,645

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

2,442,700

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

356,080

2,290,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Saint

Joseph's

Healthcare

System

Obligated

Group

Issue,

Refunding

Series

2016

.000

07/01/41

2,281,988

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

1,195,395

1,185,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Valley

Health

System

Obligated

Group,

Series

2019

.000

07/01/44

1,057,244

1,215,000

New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Valley

Health

System

Obligated

Group,

Series

2019

.000

07/01/49

878,779

TOTAL

HEALTH

CARE

27,249,144

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/MULTIFAMILY

-

6.0%

$

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

$

137,275

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

406,417

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

2,103,773

1,423,237

New

Jersey

Housing

&

Mortgage

Finance

Agency,

Multifamily

Conduit

Revenue

Bonds,

Cherry

Garden

Apartments

Project,

Series

2021B

.375

01/01/39

1,068,004

520,000

New

Jersey

Housing

&

Mortgage

Finance

Agency,

Multifamily

Conduit

Revenue

Bonds,

Riverview

Towers

Apartments,

Series

2024B

.250

12/20/65

527,080

705,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Conduit

Revenue

Bonds,

Montgomery

Gateway

Apartments,

Series

2025A

.550

05/01/41

701,307

1,310,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2015A

.000

11/01/45

1,141,570

1,135,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2016A

.750

11/01/45

966,009

2,145,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2016B

.600

11/01/40

1,910,787

1,360,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2018A

.600

11/01/33

1,315,736

1,045,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2018A

.950

11/01/43

936,852

650,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2018A

.000

11/01/48

574,261

500,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2018A

.100

11/01/53

417,080

1,750,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2019A

.900

11/01/39

1,370,703

530,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2019A

.000

11/01/44

405,972

870,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2019A

.050

11/01/49

626,026

490,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2019A

.150

05/01/53

340,028

600,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2020A

.450

11/01/45

389,552

2,470,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2021A

.450

11/01/41

1,733,697

1,090,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2023C,

(AMT)

.850

05/01/33

1,091,393

855,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2023E-1

.500

05/01/50

804,003

500,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Multifamily

Revenue

Bonds,

Series

2023E-1

.550

05/01/55

458,437

TOTAL

HOUSING/MULTIFAMILY

19,425,962

HOUSING/SINGLE

FAMILY

-

5.9%

920,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2018A

.750

10/01/35

875,552

2,150,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2018B,

(AMT)

.800

10/01/32

2,071,958

2,710,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2019C

.000

04/01/49

2,277,484

1,540,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2020E

.250

10/01/40

1,090,765

980,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2020E

.500

04/01/51

974,092

2,000,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Series

2024K

.150

10/01/39

1,907,302

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### New

#### Jersey

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HOUSING/SINGLE

FAMILY

(continued)

$

7,080,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2021H

.300

%

10/01/46

$

4,398,288

1,885,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2022I

.500

10/01/42

1,861,025

1,445,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2022I

.600

10/01/46

1,404,296

1,000,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2023J

.500

10/01/43

974,038

1,150,000

New

Jersey

Housing

and

Mortgage

Finance

Agency,

Single

Family

Housing

Revenue

Bonds,

Social

Series

2023J

.700

10/01/48

1,125,067

TOTAL

HOUSING/SINGLE

FAMILY

18,959,867

INDUSTRIALS

-

0.8%

500,000

New

Jersey

Economic

Development

Authority,

Energy

Facilities

Revenue

Bonds,

UMM

Energy

Partners,

LLC

Project,

Series

2012A,

(AMT)

.000

06/15/37

492,989

1,000,000

New

Jersey

Economic

Development

Authority,

Energy

Facilities

Revenue

Bonds,

UMM

Energy

Partners,

LLC

Project,

Series

2012A,

(AMT)

.125

06/15/43

947,946

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

1,014,216

TOTAL

INDUSTRIALS

2,455,151

LONG-TERM

CARE

-

0.7%

530,000

New

Jersey

Economic

Development

Authority,

Fixed

Rate

Revenue

Bonds,

Lions

Gate

Project,

Series

2014

.250

01/01/44

482,350

2,133,201

(a) New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

White

Horse

HMT

Urban

Renewal

LLC

Project,

Series

2020

.000

01/01/40

1,372,570

485,000

(a) New

Jersey

Health

Care

Facilities

Financing

Authority,

Revenue

Bonds,

Village

Drive

Healthcare

Urban

Renewal

LLC,

Series

2018

.750

10/01/38

348,464

TOTAL

LONG-TERM

CARE

2,203,384

TAX

OBLIGATION/GENERAL

-

14.3%

3,995,000

Bridgewater

&

Raritan

School

District,

Somerset

County,

New

Jersey,

General

Obligation

Bonds,

Series

2024

.000

07/15/45

3,607,718

775,000

Cumberland

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Revenue

Bonds,

Vineland

Public

Safety

Building

Project,

Series

2017

.250

12/15/37

698,362

585,000

Cumberland

County,

New

Jersey,

General

Obligation

Bonds,

General

Improvement

Series

2024

.000

08/15/26

575,071

1,000,000

Cumberland

County,

New

Jersey,

General

Obligation

Bonds,

Series

2021

.000

05/15/29

921,997

15,000

Flemington-Raritan

Regional

School

District,

Hunterdon

County,

New

Jersey,

General

Obligation

Bonds,

Series

2019

.375

09/01/34

12,507

600,000

Gloucester

County

Improvement

Authority,

New

Jersey,

General

Obligation

Loan

Revenue

Bonds,

Health

Sciences

Educational

Facilities

Projects

Series

2024

.000

03/01/26

609,629

1,065,000

Gloucester

Township,

New

Jersey,

General

Obligation

Bonds,

Series

2019

-

BAM

Insured

.000

02/01/28

1,012,688

1,000,000

Gloucester

Township,

New

Jersey,

General

Obligation

Bonds,

Series

2019

-

BAM

Insured

.250

02/01/29

942,549

1,040,000

Harrison,

New

Jersey,

General

Obligation

Bonds,

Parking

Utility

Series

2018

-

BAM

Insured

.375

03/01/34

1,010,570

1,075,000

Holmdel

Township,

Monmouth,

New

Jersey,

General

Obligation

Bonds,

Series

2021

.000

11/15/34

858,833

1,000,000

Hudson

County

Improvement

Authority,

New

Jersey,

County

Secured

Lease

Revenue

Bonds,

Hudson

County

Courthouse

Project,

Series

2020

.000

10/01/51

873,722

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

5,489,937

1,500,000

Hudson

County,

New

Jersey,

Bond

Anticipation

Notes,

Series

2025

.000

02/26/26

1,510,426

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

940,781

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/GENERAL

(continued)

$

1,000,000

Jersey

City,

New

Jersey,

General

Obligation

Bonds,

General

Improvement

Series

2022A

.000

%

02/15/37

$

875,712

1,000,000

Madison

Borough

Board

of

Education,

Morris

County,

New

Jersey,

General

Obligation

Bonds,

School

Series

2024

.000

08/15/30

879,565

1,125,000

Monmouth

County

Improvement

Authority,

New

Jersey,

Governmental

Pooled

Loan

Revenue

Bonds,

Series

2022C

.000

08/15/40

1,207,232

575,000

Monmouth

County

Improvement

Authority,

New

Jersey,

Governmental

Pooled

Loan

Revenue

Bonds,

Series

2023

.000

12/01/36

640,937

500,000

Monmouth

County

Improvement

Authority,

New

Jersey,

Governmental

Pooled

Loan

Revenue

Bonds,

Series

2023

.000

12/01/41

536,750

1,120,000

Monmouth

County

Improvement

Authority,

New

Jersey,

Governmental

Pooled

Loan

Revenue

Bonds,

Series

2024A

.000

12/01/37

1,251,201

1,000,000

New

Brunswick

Parking

Authority,

Middlesex

County,

New

Jersey,

Guaranteed

Parking

Revenue

Bonds,

Refunding

Series

2016A

-

BAM

Insured

.000

09/01/32

1,018,326

235,000

New

Jersey

State,

General

Obligation

Bonds,

Emergency

Series

2020A

.000

06/01/25

235,000

5,000

New

Jersey

State,

General

Obligation

Bonds,

Emergency

Series

2020A

.000

06/01/28

5,307

1,400,000

New

Jersey

State,

General

Obligation

Bonds,

Emergency

Series

2020A

.000

06/01/31

1,470,457

205,000

New

Jersey

State,

General

Obligation

Bonds,

Emergency

Series

2020A

.000

06/01/32

198,636

605,000

Newark

Board

of

Education,

Essex

County,

New

Jersey,

General

Obligation

Bonds,

School

Energy

Savings

Series

2021

-

BAM

Insured

.000

07/15/36

605,584

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

528,919

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

657,494

1,500,000

Ocean

City,

New

Jersey,

General

Obligation

Bonds,

General

Improvement

Series

2019

.250

09/15/33

1,279,993

2,625,000

Passaic

County,

New

Jersey,

General

Obligation

Bonds,

General

Improvement

Series

2019A

.000

12/01/34

1,971,249

1,054,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

.625

07/01/29

1,104,861

1,477,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

.000

07/01/33

1,421,045

669,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

.000

07/01/37

618,353

1,145,000

Somers

Point,

New

Jersey,

General

Obligation

Bonds,

Improvement

Sewer

Utility

Series

2019

.000

10/01/31

997,466

2,460,000

South

Orange

&

Maplewood

School

District,

Essex

County,

New

Jersey,

General

Obligation

Bonds,

Series

2021

.375

08/15/46

1,533,059

3,535,000

Union

County

Utilities

Authority,

New

Jersey,

Resource

Recovery

Facility

Lease

Revenue

Bonds,

Covantan

Union

Inc.

Lessee,

Refunding

Series

2011B,

(AMT)

.250

12/01/31

3,540,491

2,515,000

Union

County

Utilities

Authority,

New

Jersey,

Solid

Waste

System

County

Deficiency

Revenue

Bonds,

Series

2011A

.000

06/15/41

2,517,089

1,280,000

Verona

Township

Board

of

Education,

Essex

County,

New

Jersey,

General

Obligation

Bonds,

Refunding

Series

2020

.250

03/01/39

914,395

1,085,000

Woodridge

Boro,

New

Jersey,

General

Obligation

Bonds,

General

Improvement

Series

2021

.000

09/01/32

925,530

TOTAL

TAX

OBLIGATION/GENERAL

45,999,441

TAX

OBLIGATION/LIMITED

-

21.3%

1,235,000

Bergen

County

Improvement

Authority,

New

Jersey,

County

Guaranteed

Governmental

Pooled

Project

Notes,

Series

2024

.000

10/16/25

1,238,888

3,500,000

Bergen

County

Improvement

Authority,

New

Jersey,

County

Guaranteed

Governmental

Pooled

Project

Notes,

Series

2025A

.000

05/21/26

3,534,407

650,000

Bergen

County

Improvement

Authority,

New

Jersey,

Guaranteed

Lease

Revenue

Bonds,

County

Administration

Complex

Project,

Series

2005

.000

11/15/26

670,949

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### New

#### Jersey

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

3,000,000

Burlington

County

Bridge

Commission,

New

Jersey,

Governmental

Leasing

Program

Revenue

Bonds,

Series

2024D

.250

%

12/11/25

$

3,013,760

450,000

Camden

County

Improvement

Authority,

New

Jersey,

County

Guaranteed

Loan

Revenue

Bonds,

Refunding

Capital

Program

Series

2024B

.000

01/15/29

483,689

1,000,000

Camden

County

Improvement

Authority,

New

Jersey,

County

Guaranteed

Loan

Revenue

Bonds,

Refunding

Capital

Program

Series

2024B

.000

01/15/30

1,091,418

795,000

Casino

Reinvestement

Development

Authority,

New

Jersey,

Luxury

Tax

Revenue

Bonds,

Series

2024A

.000

11/01/41

826,339

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

1,212,980

2,940,000

Middlesex

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Revenue

Bonds,

New

Jersey

Health

+

Life

Science

Exchange

-

Project

Series

2023A

.000

08/15/49

3,062,148

1,000,000

Middlesex

County

Improvement

Authority,

New

Jersey,

General

Obligation

Lease

Revenue

Bonds,

New

Jersey

Health

+

Life

Science

Exchange

-

Project

Series

2023A

.000

08/15/53

900,885

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

3,679,495

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

3,797,822

3,220,000

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

Motor

Vehicle

Surcharge,

Refunding

Subordinate

Series

2017A

.375

07/01/30

3,094,746

2,010,000

New

Jersey

Economic

Development

Authority,

Revenue

Bonds,

New

Jersey

Transit

Corporation

Projects

Sublease,

Refunding

Series

2017B

.000

11/01/25

2,025,135

255,000

New

Jersey

Transportation

Trust

Fund

Authority,

Federal

Highway

Reimbursement

Revenue

Notes,

Series

2016A-1

.000

06/15/29

259,156

175,000

New

Jersey

Transportation

Trust

Fund

Authority,

Federal

Highway

Reimbursement

Revenue

Notes,

Series

2016A-1

.000

06/15/30

177,630

3,845,000

New

Jersey

Transportation

Trust

Fund

Authority,

Federal

Highway

Reimbursement

Revenue

Notes,

Series

2018A

.000

06/15/31

3,896,160

505,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2019AA

.000

06/15/46

501,796

1,000,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2022CC

.250

06/15/41

1,046,126

1,500,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2023AA

.250

06/15/44

1,368,139

14,360,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Capital

Appreciation

Series

2010A

.000

12/15/30

11,784,745

5,300,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Refunding

Series

2006C

-

AGM

Insured

.000

12/15/32

4,016,524

4,620,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Refunding

Series

2006C

-

AGM

Insured

.000

12/15/33

3,328,726

1,045,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Refunding

Series

2006C

-

AGM

Insured

.000

12/15/34

719,184

2,360,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2019BB

.500

06/15/46

1,863,517

680,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2019BB

.000

06/15/50

574,086

1,560,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2024AA

.000

06/15/42

1,412,045

1,000,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

System

Bonds,

Series

2024CC

.125

06/15/55

846,431

705,000

Passaic

County

Improvement

Authority,

New

Jersey,

Guaranteed

Revenue

Bonds,

Senior

Housing

Project

Series

2024

.000

11/01/51

633,671

1,140,000

Passaic

County

Improvement

Authority,

New

Jersey,

Lease

Revenue

Bonds,

Preakness

Healthcare

Center

Expansion

Project,

Refunding

Series

2015

.750

05/01/36

1,111,809

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

1,045,000

Passaic

County

Improvement

Authority,

New

Jersey,

Lease

Revenue

Bonds,

Preakness

Healthcare

Center

Expansion

Project,

Series

2012

.500

%

05/01/35

$

1,013,126

1,920,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.000

07/01/58

1,803,947

1,749,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Taxable

Restructured

Cofina

Project

Series

2019A-2

.329

07/01/40

1,633,242

1,725,000

Union

County

Improvement

Authority,

New

Jersey,

Lease

Revenue

Bonds,

Plainfield

-

Park

Madison

Redevelopment

Project,

Refunding

Series

2013A

.000

03/01/34

1,873,739

TOTAL

TAX

OBLIGATION/LIMITED

68,496,460

TRANSPORTATION

-

12.2%

1,000,000

Delaware

River

and

Bay

Authority,

Delaware

and

New

Jersey,

Revenue

Bonds,

Refunding

Series

2024B

.000

01/01/41

1,061,695

1,000,000

Delaware

River

and

Bay

Authority,

Delaware

and

New

Jersey,

Revenue

Bonds,

Series

2019

.000

01/01/44

906,620

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

1,090,017

1,000,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Series

2017

.000

07/01/42

1,008,183

2,000,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Series

2017

.000

07/01/47

2,005,096

1,000,000

Delaware

River

Joint

Toll

Bridge

Commission,

New

Jersey

and

Pennsylvania,

Bridge

System

Revenue

Bonds,

Series

2019A

.000

07/01/49

694,510

500,000

Delaware

River

Port

Authority,

New

Jersey

and

Pennsylvania,

Revenue

Bonds, Series

2013

.000

01/01/37

500,120

2,560,000

Delaware

River

Port

Authority,

New

Jersey

and

Pennsylvania,

Revenue

Bonds, Series

2013

.000

01/01/40

2,561,162

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

1,710,565

1,645,000

New

Jersey

Economic

Development

Authority,

Private

Activity

Bonds,

The

Goethals

Bridge

Replacement

Project,

Series

2013,

(AMT)

.625

01/01/52

1,645,712

1,515,000

New

Jersey

Economic

Development

Authority,

Special

Facilities

Revenue

Bonds,

Continental

Airlines

Inc.,

Series

1999,

(AMT)

.250

09/15/29

1,515,421

380,000

New

Jersey

Economic

Development

Authority,

Special

Facilities

Revenue

Bonds,

Continental

Airlines

Inc.,

Series

2000A

&

2000B,

(AMT)

.625

11/15/30

380,198

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

996,747

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

1,905,576

1,315,000

New

Jersey

Turnpike

Authority,

Revenue

Bonds,

Series

2005A

-

AGM

Insured

.250

01/01/29

1,420,430

775,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2022A

.000

01/01/42

715,008

2,000,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2022A

.000

01/01/43

1,823,581

1,000,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2022B

.000

01/01/46

1,024,486

1,030,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2022B

.500

01/01/48

993,479

2,250,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2022B

.250

01/01/52

2,318,896

1,055,000

New

Jersey

Turnpike

Authority,

Turnpike

Revenue

Bonds,

Series

2024B

.250

01/01/54

1,087,920

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

2,951,943

1,200,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Forty-Fifth

Series

2024

.000

09/01/54

1,225,566

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### New

#### Jersey

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

1,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Second

Series

2017,

(AMT)

.000

%

10/15/33

$

1,015,463

625,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Twelfth

Series

2019

.000

09/01/38

607,696

1,000,000

South

Jersey

Transportation

Authority,

New

Jersey,

Transportation

System

Revenue

Bonds,

Refunding

Series

2019A

-

AGM

Insured

.000

11/01/33

1,053,231

2,350,000

South

Jersey

Transportation

Authority,

New

Jersey,

Transportation

System

Revenue

Bonds,

Series

2022A

.625

11/01/47

2,234,782

650,000

South

Jersey

Transportation

Authority,

New

Jersey,

Transportation

System

Revenue

Bonds,

Series

2022A

-

BAM

Insured

.250

11/01/52

664,334

1,000,000

South

Jersey

Transportation

Authority,

New

Jersey,

Transportation

System

Revenue

Bonds,

Series

2025A

-

BAM

Insured

.000

11/01/38

950,646

1,000,000

South

Jersey

Transportation

Authority,

New

Jersey,

Transportation

System

Revenue

Bonds,

Series

2025A

-

BAM

Insured

.000

11/01/39

937,843

TOTAL

TRANSPORTATION

39,006,926

U.S.

GUARANTEED

-

0.3%

(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

145,764

600,000

New

Jersey

Transportation

Trust

Fund

Authority,

Transportation

Program

Bonds,

Series

2022CC,

(Pre-refunded

12/15/32)

.250

06/15/46

689,148

TOTAL

U.S.

GUARANTEED

834,912

UTILITIES

-

9.1%

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

1,506,686

500,000

New

Jersey

Economic

Development

Authority,

Natural

Gas

Facilities

Revenue

Bonds,

New

Jersey

Natural

Gas

Company

Project,

Refunding

Series

2011C,

(AMT)

.000

08/01/41

380,702

2,575,000

New

Jersey

Economic

Development

Authority,

Water

Facilities

Revenue

Bonds,

Middlesex

Water

Company,

Series

2019,

(AMT)

.000

08/01/59

2,068,707

5,000,000

New

Jersey

Economic

Development

Authority,

Water

Facilities

Revenue

Bonds,

New

Jersey-American

Water

Company

Inc.

Project,

Refunding

Series

2019A,

(AMT),

(Mandatory

Put

12/03/29)

.200

10/01/39

4,338,028

500,000

New

Jersey

Economic

Development

Authority,

Water

Facilities

Revenue

Bonds,

New

Jersey-American

Water

Company

Inc.

Project,

Refunding

Series

2020B,

(AMT),

(Mandatory

Put

6/01/28)

.750

11/01/34

496,864

500,000

New

Jersey

Environmental

Infrastructure

Trust,

Environmental

Infrastructure

Bonds,

Green

Series

2025A-SW1

.000

09/01/34

574,264

500,000

New

Jersey

Infrastructure

Bank,

Environmental

Infrastructure

Bonds,

Green

Series

2021A-1

.000

09/01/32

482,895

6,295,000

New

Jersey

Infrastructure

Bank,

Environmental

Infrastructure

Bonds,

Green

Series

2022A-2

.000

09/01/47

6,533,656

2,000,000

New

Jersey

Infrastructure

Bank,

Environmental

Infrastructure

Bonds,

Green

Series

2022A-2

.000

09/01/52

2,058,425

1,500,000

New

Jersey

Infrastructure

Bank,

Environmental

Infrastructure

Bonds,

Green

Series

2023A-W1

.000

09/01/30

1,653,939

500,000

New

Jersey

Infrastructure

Bank,

Environmental

Infrastructure

Bonds,

Green

Series

2023A-W1

.000

09/01/34

571,244

130,000

North

Hudson

Sewerage

Authority,

New

Jersey,

Gross

Revenue

Lease

Certificates,

Senior

Lien

Series

2023

-

BAM

Insured

.000

06/01/37

141,624

500,000

North

Hudson

Sewerage

Authority,

New

Jersey,

Gross

Revenue

Lease

Certificates,

Senior

Lien

Series

2023

-

BAM

Insured

.000

06/01/38

538,965

750,000

North

Hudson

Sewerage

Authority,

New

Jersey,

Gross

Revenue

Lease

Certificates,

Senior

Lien

Series

2023

-

BAM

Insured

.000

06/01/39

802,327

375,000

North

Hudson

Sewerage

Authority,

New

Jersey,

Gross

Revenue

Lease

Certificates,

Senior

Lien

Series

2023

-

BAM

Insured

.000

06/01/44

390,259

695,000

Passaic

County

Utilities

Authority,

New

Jersey,

Solid

Waste

Disposal

Revenue

Bonds,

Refunding

Series

2018

.000

03/01/37

755,970

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

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

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)

$

1,425,000

Passaic

Valley

Water

Commission,

New

Jersey,

Water

System

Revenue

Bonds,

Series

2023

-

AGM

Insured

.000

%

12/01/53

$

1,267,810

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

4,616,784

TOTAL

UTILITIES

29,179,149

TOTAL

MUNICIPAL

BONDS

(Cost

$339,679,590)

317,705,664

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$339,679,590)

317,705,664

OTHER

ASSETS

&

LIABILITIES,

NET

-

1.0%

3,097,333

NET

ASSETS

-

100%

$

320,802,997

AMT

Alternative

Minimum

Tax

ETM

Escrowed

to

maturity

(a) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

reporting

period,

the

aggregate

value

of

these

securities

is

$2,829,687

or

0.9%

of

Total

Investments.

(b) When-issued

or

delayed

delivery

security.

(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.

New

Jersey

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

317,705,664

$

–

$

317,705,664

Total

$

–

$

317,705,664

$

–

$

317,705,664

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025

#### New

#### York

#### Municipal

#### Bond
(Unaudited)

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

LONG-TERM

INVESTMENTS

-

97.2%

X

910,171,784

MUNICIPAL

BONDS

-

97.2%

X

–

CONSUMER

STAPLES

-

3.8%

$

15,110,000

Erie

County

Tobacco

Asset

Securitization

Corporation,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2005A

.000

%

06/01/38

$

14,095,558

76,105,000

(a) Erie

County

Tobacco

Asset

Securitization

Corporation,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2005C

.000

06/01/50

9,208,248

755,000

New

York

Counties

Tobacco

Trust

VI,

New

York,

Tobacco

Settlement

Pass-Through

Bonds,

Series

2016A-1

.625

06/01/35

762,492

6,885,000

New

York

Counties

Tobacco

Trust

VI,

New

York,

Tobacco

Settlement

Pass-Through

Bonds,

Series

Series

2016A-1

.750

06/01/43

6,667,695

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

1,162,325

10,000,000

Suffolk

Tobacco

Asset

Securitization

Corporation,

New

York,

Tobacco

Settlement

Asset-Backed

Bonds,

Series

2021B-2

.000

06/01/66

914,641

3,000,000

TSASC

Inc.,

New

York,

Tobacco

Asset-Backed

Bonds,

Series

2006

.000

06/01/48

2,621,629

TOTAL

CONSUMER

STAPLES

35,432,588

EDUCATION

AND

CIVIC

ORGANIZATIONS

-

8.6%

1,930,000

Buffalo

and

Erie

County

Industrial

Land

Development

Corporation,

New

York,

Revenue

Bonds,

Enterprise

Charter

School

Project,

Series

2011A

.500

12/01/40

1,756,198

1,360,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Classical

Charter

Schools

Series

2023A

.500

06/15/43

1,248,899

550,000

Build

New

York

City

Resource

Corporation,

New

York,

Revenue

Bonds,

Global

Community

Charter

School

Project,

Series

2022A

.000

06/15/52

458,379

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

3,341,253

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

1,344,000

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

1,320,000

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

1,063,722

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

1,375,768

2,395,000

(a) Build

NYC

Resource

Corporation,

New

York,

Revenue

Bonds,

Family

Life

Academy

Charter

School,

Series

2020C-1

.000

06/01/55

1,911,962

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

499,858

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

2,037,672

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

2,888,077

4,000,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Barnard

College,

Taxable

Series

2025A

.000

07/01/55

3,876,810

3,835,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Yeshiva

University,

Series

2022A

.000

07/15/42

3,820,589

3,015,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Yeshiva

University,

Series

2022A

.000

07/15/50

2,906,285

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

1,704,431

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

743,228

9,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Fordham

University,

Series

2020

.000

07/01/46

7,846,423

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

EDUCATION

AND

CIVIC

ORGANIZATIONS

(continued)

$

1,480,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

New

School

University,

Series

2015A

.000

%

07/01/40

$

1,482,157

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

1,190,154

1,950,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Pace

University,

Series

2024A

.500

05/01/56

1,971,332

3,250,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Rockefeller

University,

Green

Series

2019B

.000

07/01/50

3,281,837

1,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Rockefeller

University,

Series

2020A

.000

07/01/53

1,015,123

8,665,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Rockefeller

University,

Series

2022A

.000

07/01/42

8,020,724

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

3,099,324

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

1,734,588

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

2,611,552

200,000

Hempstead

Town

Local

Development

Corporation,

New

York,

Education

Revenue

Bonds,

Evergreen

Charter

School

Project,

Series

2022A

.500

06/15/57

197,519

7,835,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds, University

of

Rochester

Project,

Series

2020A

.000

07/01/50

6,820,860

5,750,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds, University

of

Rochester

Project,

Series

2023A

.000

07/01/53

5,837,062

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

293,045

850,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

St.

John

Fisher

University

Project,

Series

2024

.250

06/01/54

865,730

405,000

New

Rochelle

Corporation,

New

York,

Local

Development

Revenue

Bonds,

Iona

College

Project,

Series

2015A

.000

07/01/40

405,000

1,285,000

Troy

Capital

Resource

Corporation,

New

York, Revenue

Bonds,

Rensselaer

Polytechnic

Institute,

Refunding

Series

2020A.

Forward

Delivery

.000

09/01/40

1,155,118

195,000

Yonkers

Economic

Development

Corporation,

New

York,

Educational

Revenue

Bonds,

Lamartine/Warburton

LLC-Charter

School

of

Educational

Excellence

Project,

Series

2019A

.000

10/15/29

192,522

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

201,916

TOTAL

EDUCATION

AND

CIVIC

ORGANIZATIONS

80,519,117

FINANCIALS

-

1.1%

5,710,000

Liberty

Development

Corporation,

New

York,

Goldman

Sachs

Headquarter

Revenue

Bonds,

Series

2005

.250

10/01/35

6,374,631

3,475,000

Liberty

Development

Corporation,

New

York,

Goldman

Sachs

Headquarters

Revenue

Bonds

Series

2007

.500

10/01/37

3,927,009

TOTAL

FINANCIALS

10,301,640

HEALTH

CARE

-

15.5%

15,600,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A

.000

05/01/45

13,933,190

18,290,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A

.250

05/01/52

16,079,357

9,255,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2022A

.000

05/01/52

9,264,038

14,465,000

Dormitory

Authority

of

the

State

of

New

York,

General

Revenue

Bonds,

Northwell

Health

Obligated

Group,

Series

2024A

.250

05/01/54

14,667,859

3,600,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2018A

.000

08/01/35

3,630,827

1,200,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2020A

.000

09/01/30

1,269,537

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### New

#### York

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

HEALTH

CARE

(continued)

$

2,680,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2020A

.000

%

09/01/34

$

2,779,817

2,620,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2020A

.000

09/01/35

2,706,637

5,000,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

Montefiore

Obligated

Group,

Series

2020A

.000

09/01/50

4,023,433

14,435,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

NYU

Langone

Hospitals

Obligated

Group,

Series

2020A

.000

07/01/53

12,058,211

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

500,001

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

449,983

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

1,086,499

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

1,100,290

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

960,539

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

1,166,834

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

2,007,483

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

1,204,523

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

4,062,797

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

939,136

400,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

White

Plains

Hospital,

Series

2024

.250

10/01/49

400,694

6,280,000

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Health

Quest

Systems,

Inc.

Project,

Series

2016B

.000

07/01/35

6,336,667

2,385,000

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Health

Quest

Systems,

Inc.

Project,

Series

2016B

.000

07/01/41

2,157,471

12,325,000

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Health

Quest

Systems,

Inc.

Project,

Series

2016B

.000

07/01/46

11,753,151

1,000,000

Dutchess

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Nuvance

Health

Issue,

Series

2019B

.000

07/01/26

1,014,458

1,395,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Rochester

General

Hospital

Project,

Series

2013A

.000

12/01/42

1,369,085

6,605,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Rochester

General

Hospital

Project,

Series

2017

.000

12/01/46

6,536,367

4,600,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Rochester

Regional

Health

Project,

Series

2020A

.000

12/01/46

3,933,154

375,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Tax-Exempt

Revenue

Bonds,

Highland

Hospital

of

Rochester

Project,

Series

2015

.000

07/01/34

375,266

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

17,050,461

380,000

Westchester

County

Local

Development

Corporation,

New

York,

Revenue

Bonds,

Westchester

Medical

Center

Obligated

Group

Project,

Series

2023

.250

11/01/52

405,859

TOTAL

HEALTH

CARE

145,223,624

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

$

3,872,119

3,450,000

(a) New

York

City

Housing

Development

Corporation,

New

York,

Multi-Family

Mortgage

Revenue

Bonds,

Spruce

Street,

Class

F

Series

2024

.250

12/15/31

3,507,843

1,215,000

New

York

State

Housing

Finance

Agency,

Multifamily

Housing

Revenue

Bonds,

Cannon

Street

Senior

Housing

Project,

Series

2007A,

(AMT)

.300

02/15/39

1,214,910

TOTAL

HOUSING/MULTIFAMILY

8,594,872

INDUSTRIALS

-

4.7%

17,020,000

(a) New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

World

Trade

Center

Project,

Class

Series

2014

.000

11/15/44

16,554,695

7,550,000

(a) New

York

Liberty

Development

Corporation,

New

York,

Liberty

Revenue

Bonds,

World

Trade

Center

Project,

Class

Series

2014

.150

11/15/34

7,551,427

1,915,000

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021,

(AMT)

.000

10/31/41

1,668,747

3,720,000

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021,

(AMT)

.000

10/31/46

3,105,084

18,765,000

New

York

Transportation

Development

Corporation,

New

York,

Facility

Revenue

Bonds,

Thruway

Service

Areas

Project,

Series

2021,

(AMT)

.000

04/30/53

14,771,315

TOTAL

INDUSTRIALS

43,651,268

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

541,832

550,000

Monroe

County

Industrial

Development

Corporation,

New

York,

Revenue

Bonds,

Saint

Ann's

Community

Project,

Series

2019

.000

01/01/40

507,333

330,000

(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

329,763

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

207,602

TOTAL

LONG-TERM

CARE

1,586,530

MATERIALS

-

0.2%

2,145,000

(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

2,145,559

TOTAL

MATERIALS

2,145,559

TAX

OBLIGATION/GENERAL

-

5.5%

5,165,000

Nassau

County,

New

York,

General

Obligation

Bonds,

General

Improvement

Series

2023A

.000

04/01/53

4,421,848

5,845,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2018

Series

.000

10/01/39

5,942,629

7,210,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2018

Series

.000

03/01/39

7,348,807

6,050,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2018

Series

.000

03/01/40

6,147,855

3,875,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2018

Series

.000

04/01/45

3,903,729

5,450,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2022

Series

.000

08/01/47

5,519,861

5,790,000

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2023

Series

.250

10/01/47

5,953,921

10,000,000

Puerto

Rico,

General

Obligation

Bonds,

Restructured

Series

2022A-1

.000

07/01/33

9,621,157

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### New

#### York

#### Municipal

#### Bond

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

$

2,375,041

TOTAL

TAX

OBLIGATION/GENERAL

51,234,848

TAX

OBLIGATION/LIMITED

-

20.3%

1,585,000

Dormitory

Authority

of

the

State

of

New

York,

Residential

Insitutions

for

Children

Revenue

Bonds,

Series

2008-A1

.000

06/01/33

1,587,675

1,985,000

Dormitory

Authority

of

the

State

of

New

York,

Residential

Insitutions

for

Children

Revenue

Bonds,

Series

2008-A1

.000

06/01/38

1,987,404

20,000

Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

School

Districts

Financing

Program,

Series

2009C

-

AGC

Insured

.125

10/01/36

20,027

4,510,000

(c) Dormitory

Authority

of

the

State

of

New

York,

Revenue

Bonds,

School

Districts

Financing

Program,

Series

2025A

.000

10/01/38

4,869,064

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

2,064,126

17,140,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2017A

Group

C

.000

03/15/41

17,338,449

10,000,000

Dormitory

Authority

of

the

State

of

New

York,

State

Sales

Tax

Revenue

Bonds,

Series

2018A

.000

03/15/42

10,074,837

2,135,000

Government

of

Guam,

Business

Privilege

Tax

Bonds,

Refunding

Series

2015D

.000

11/15/26

2,149,442

1,455,000

Government

of

Guam,

Business

Privilege

Tax

Bonds,

Refunding

Series

2015D

.000

11/15/29

1,462,779

2,170,000

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Green

Fiscal

2022

Series

A

.000

02/15/36

2,181,699

5,710,000

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Second

Indenture

Fiscal

2017

Series

A

.000

02/15/39

5,786,959

3,955,000

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Second

Indenture

Fiscal

2017

Series

A

.000

02/15/42

3,975,048

1,045,000

Hudson

Yards

Infrastructure

Corporation,

New

York,

Revenue

Bonds,

Second

Indenture

Fiscal

2017

Series

A

.000

02/15/45

1,047,040

2,935,000

Metropolitan

Transportation

Authority,

New

York,

Dedicated

Tax

Fund

Bonds,

Green

Series

2024A

.000

11/15/51

2,586,929

5,450,000

Metropolitan

Transportation

Authority,

New

York,

Dedicated

Tax

Fund

Bonds,

Series

2022A

.000

11/15/46

5,542,660

4,000,000

Monroe

County

Industrial

Development

Agency,

New

York,

School

Facility

Revenue

Bonds,

Rochester

Schools

Modernization

Project,

Series

2013

.000

05/01/28

4,005,226

9,335,000

New

York

City

Transitional

Finance

Authority,

New

York,

Building

Aid

Revenue

Bonds,

Fiscal

2020

Subseries

S-1B

.000

07/15/43

8,428,167

1,615,000

New

York

City

Transitional

Finance

Authority,

New

York,

Building

Aid

Revenue

Bonds,

Fiscal

Series

2016S-1

.000

07/15/34

1,629,976

1,165,000

New

York

City

Transitional

Finance

Authority,

New

York,

Building

Aid

Revenue

Bonds,

Fiscal

Series

2016S-1

.000

07/15/35

1,175,589

5,000,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2017

Series

.000

05/01/40

5,020,278

5,000,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2017

Series

.000

08/01/36

5,057,883

5,375,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2017

Series

.000

02/01/43

5,404,444

5,000,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2017

Series

.000

05/01/38

5,068,074

4,020,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

2020

Subseries

.000

11/01/47

3,528,385

3,670,000

New

York

City

Transitional

Finance

Authority,

New

York,

Future

Tax

Secured

Bonds,

Subordinate

Fiscal

Series

2025H-1

.250

11/01/48

3,842,834

5,000,000

New

York

City,

New

York,

Educational

Construction

Fund

Revenue

Bonds,

Series

2021B

.000

04/01/52

5,109,529

9,585,000

New

York

State

Thruway

Authority,

State

Personal

Income

Tax

Revenue

Bonds,

Bidding

Group

Series

2022A

.000

03/15/45

9,790,102

15,000,000

New

York

State

Thruway

Authority,

State

Personal

Income

Tax

Revenue

Bonds,

Climate

Certified

Green

Series

2022C

.125

03/15/57

12,970,717

7,000,000

New

York

State

Urban

Development

Corporation,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2020C

.000

03/15/47

7,072,965

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TAX

OBLIGATION/LIMITED

(continued)

$

3,800,000

New

York

State

Urban

Development

Corporation,

State

Personal

Income

Tax

Revenue

Bonds,

General

Purpose,

Series

2020C

.000

%

03/15/49

$

3,294,924

500,000

Oneida

Indian

Nation,

New

York,

Tax

Revenue

Bonds,

Series

2024B

.000

09/01/43

526,832

2,393,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.000

07/01/46

768,235

28,646,000

Puerto

Rico

Sales

Tax

Financing

Corporation,

Sales

Tax

Revenue

Bonds,

Restructured

2018A-1

.000

07/01/58

26,914,510

5,750,000

Syracuse

Industrial

Development

Authority,

New

York,

PILOT

Revenue

Bonds,

Carousel

Center

Project,

Refunding

Series

2016A,

(AMT)

.000

01/01/29

4,560,100

1,930,000

Syracuse

Industrial

Development

Authority,

New

York,

PILOT

Revenue

Bonds,

Carousel

Center

Project,

Refunding

Series

2016A,

(AMT)

.000

01/01/32

1,468,574

1,250,000

Syracuse

Industrial

Development

Authority,

New

York,

PILOT

Revenue

Bonds,

Carousel

Center

Project,

Refunding

Series

2016A,

(AMT)

.000

01/01/34

937,291

5,430,000

Syracuse

Industrial

Development

Authority,

New

York,

PILOT

Revenue

Bonds,

Carousel

Center

Project,

Refunding

Series

2016A,

(AMT)

.000

01/01/36

4,030,522

2,340,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Series

2021B-1

.000

05/15/56

1,955,833

2,000,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Series

2022

A

.000

05/15/51

1,706,855

1,650,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Bonds,

Senior

Lien

Subseries

2021A-1

.000

05/15/51

1,666,500

2,255,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

Payroll

Mobility

Tax

Senior

Lien

Bonds,

Series

2022C

.125

05/15/52

1,948,516

TOTAL

TAX

OBLIGATION/LIMITED

190,556,999

TRANSPORTATION

-

31.4%

4,600,000

(c) Build

NYC

Resource

Corporation,

New

York,

Airport

Facilities

Revenue

Bonds.

TrIPs

Obligated

Group,

Senior

Series

2025,

(AMT)

.500

07/01/55

4,648,202

2,700,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Climate

Bond

Certified

Series

2016A-1

.250

11/15/56

2,698,514

2,000,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Climate

Bond

Certified

Series

2020A-1

.000

11/15/48

1,994,165

3,600,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Climate

Bond

Certified

Series

2020C-1

.750

11/15/45

3,533,090

9,200,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Climate

Bond

Certified

Series

2020C-1

.000

11/15/50

9,134,420

2,000,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Green

Climate

Bond

Certified

Series

2020C-1

.250

11/15/55

2,030,102

2,500,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Refunding

Green

Series

2016B

.000

11/15/37

2,522,208

7,500,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Refunding

Series

2015D-1

.000

11/15/30

7,525,388

6,655,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Refunding

Series

2017D

.000

11/15/42

5,890,319

8,350,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Series

2015C-1

.250

11/15/30

8,389,389

2,500,000

Metropolitan

Transportation

Authority,

New

York,

Transportation

Revenue

Bonds,

Series

2016C-1

.000

11/15/34

2,539,191

2,800,000

(b) New

York

City

Industrial

Development

Agency,

New

York,

Civic

Facility

Revenue

Bonds,

Bronx

Parking

Development

Company,

LLC

Project,

Series

2007

.300

10/01/37

1,792,000

2,000,000

(b) New

York

City

Industrial

Development

Agency,

New

York,

Civic

Facility

Revenue

Bonds,

Bronx

Parking

Development

Company,

LLC

Project,

Series

2007

.350

10/01/46

1,280,000

6,645,000

New

York

City,

Industrial

Development

Agency,

Senior

Airport

Facilities

Revenue

Refunding

Bonds,

TrIPs

Obligated

Group,

Series

2012A,

(AMT)

.000

07/01/28

6,679,670

5,000,000

New

York

State

Thruway

Authority,

General

Revenue

Bonds,

Series

2020N

.000

01/01/42

4,609,141

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### New

#### York

#### Municipal

#### Bond

PRINCIPAL

DESCRIPTION

RATE

MATURITY

VALUE

TRANSPORTATION

(continued)

$

3,000,000

New

York

State

Thruway

Authority,

General

Revenue

Bonds,

Series

2020N

.000

%

01/01/43

$

2,738,081

8,515,000

New

York

State

Thruway

Authority,

General

Revenue

Junior

Indebtedness

Obligations,

Series

2016A

.000

01/01/51

8,518,625

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

4,691,536

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

11,698,847

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

24,325,352

17,280,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facilities

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Redevelopment

Project,

Senior

Green

Series

2024A,

(AMT)

.500

12/31/60

17,364,207

6,055,000

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

6,054,946

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

12,562,899

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

1,775,920

2,080,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

New

Terminal

John

F

Kennedy

International

Airport

Project,

Green

Series

2023,

(AMT)

.000

06/30/54

2,181,977

14,915,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

New

Terminal

John

F

Kennedy

International

Airport

Project,

Green

Series

2023,

(AMT)

.375

06/30/60

14,847,971

1,280,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2020A,

(AMT)

.000

12/01/37

1,303,561

1,540,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2020C

.000

12/01/34

1,629,124

1,745,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2020C

.000

12/01/35

1,836,523

2,010,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2022,

(AMT)

.000

12/01/35

2,077,255

10,000,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2022,

(AMT)

.000

12/01/36

10,294,280

3,000,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2022,

(AMT)

.000

12/01/37

3,062,582

1,000,000

New

York

Transportation

Development

Corporation,

New

York,

Special

Facility

Revenue

Bonds,

Terminal

John

F

Kennedy

International

Airport

Project,

Series

2022,

(AMT)

.000

12/01/40

1,006,447

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

1,316,056

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

10,401,816

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

10,153,150

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

$

1,152,845

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

5,865,716

3,775,000

Niagara

Frontier

Transportation

Authority,

New

York,

Airport

Revenue

Bonds,

Buffalo

International

Airport,

Series

2014A,

(AMT)

.000

04/01/26

3,776,988

15,000,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

One

Hundred

Ninety-Eighth

Series

2016

.250

11/15/56

15,065,985

2,500,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Eighteen

Series

2019,

(AMT)

.000

11/01/44

2,509,821

10,230,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Fifth

Series

2017

.000

11/15/47

10,295,880

7,495,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Forty-Fourth

Series

2024

.000

07/15/54

7,653,051

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

5,019,716

4,800,000

Port

Authority

of

New

York

and

New

Jersey,

Consolidated

Revenue

Bonds,

Two

Hundred

Twentieth

Series

2019,

(AMT)

.000

11/01/59

3,857,679

8,055,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Purpose

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Refunding

Series

2017B

.000

11/15/38

8,155,165

10,900,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Purpose

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Series

2019A

.000

11/15/49

11,011,757

5,000,000

Triborough

Bridge

and

Tunnel

Authority,

New

York,

General

Revenue

Bonds,

MTA

Bridges

&

Tunnels,

Series

2021A

.000

11/15/56

5,014,310

TOTAL

TRANSPORTATION

294,485,867

UTILITIES

-

5.0%

4,875,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Green

Series

2023E

.000

09/01/53

4,933,505

2,000,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2000A

-

AGM

Insured

.000

06/01/25

2,000,000

2,215,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2017

.000

09/01/42

2,226,488

695,000

Long

Island

Power

Authority,

New

York,

Electric

System

General

Revenue

Bonds,

Series

2017

.000

09/01/47

690,091

7,465,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2018

Series

.000

06/15/48

7,532,059

9,885,000

New

York

City

Municipal

Water

Finance

Authority,

New

York,

Water

and

Sewer

System

Second

General

Resolution

Revenue

Bonds,

Fiscal

2020

Series

.000

06/15/49

8,572,172

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

7,806,547

4,080,000

New

York

State

Power

Authority,

Green

Transmission

Project

Revenue

Bonds,

Green

Series

2023A

-

AGM

Insured

.000

11/15/48

4,146,758

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

8,531,252

TOTAL

UTILITIES

46,438,872

TOTAL

MUNICIPAL

BONDS

(Cost

$939,890,827)

910,171,784

TOTAL

LONG-TERM

INVESTMENTS

(Cost

$939,890,827)

910,171,784

#### Portfolio

#### of

#### Investments

#### May

#### 31,

#### 2025
(continued)

#### New

#### York

#### 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

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

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

-

2.7%

X

25,035,000

MUNICIPAL

BONDS

-

2.7%

X

–

TAX

OBLIGATION/GENERAL

-

2.7%

$

17,035,000

(d),(e)

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2013

Series

A-.3

.000

%

10/01/40

$

17,035,000

8,000,000

(d),(e)

New

York

City,

New

York,

General

Obligation

Bonds,

Fiscal

2017

Taxable

Series

.000

08/01/44

8,000,000

TOTAL

TAX

OBLIGATION/GENERAL

25,035,000

TOTAL

MUNICIPAL

BONDS

(Cost

$25,035,000)

25,035,000

TOTAL

SHORT-TERM

INVESTMENTS

(Cost

$25,035,000)

25,035,000

TOTAL

INVESTMENTS

-

99.9%

(Cost

$964,925,827)

935,206,784

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.1%

1,004,717

NET

ASSETS

-

100%

$

936,211,501

AMT

Alternative

Minimum

Tax

(a) Security

is

exempt

from

registration

under

Rule

144A

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

As

of

the

end

of

the

reporting

period,

the

aggregate

value

of

these

securities

is

$73,620,180

or

7.9%

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,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

(e) Investment

has

a

maturity

of

greater

than

one

year,

but

has

variable

rate

and/or

demand

features

which

qualify

it

as

a

short-term

investment.

The

rate

disclosed,

as

well

as

the

reference

rate

and

spread,

where

applicable,

is

that

in

effect

as

of

the

end

of

the

reporting

period.

This

rate

changes

periodically

based

on

market

conditions

or

a

specified

market

index.

New

York

Level

Level

Level

Total

Long-Term

Investments:

Municipal

Bonds

$

–

$

910,171,784

$

–

$

910,171,784

Short-Term

Investments:

Municipal

Bonds

–

25,035,000

–

25,035,000

Total

$

–

$

935,206,784

$

–

$

935,206,784

## 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 California High Yield Municipal Bond Fund

- **b. EDGAR series identifier (if any):** S000008513

- **c. LEI of Series:** 5VDJIMFO1T8OHHHC0393

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

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

- **b. Date as of which information is reported:** 2025-05-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1174918657.00

**Total Liabilities:** $258363682.00

**Net Assets:** $916554975.00

**Cash Not Reported:** $654849.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -0.69000000 | **1-Year:** -1688.97000000 | **5-Year:** -17390.59000000 | **10-Year:** -124542.54000000 | **30-Year:** -300869.79000000

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

- **3-Month:** 0.00000000 | **1-Year:** -292.89000000 | **5-Year:** -1435.24000000 | **10-Year:** -123473.00000000 | **30-Year:** -409483.10000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000023364 | -2.36%               | -2.43%               | -0.92%               |
| Class ID C000137692 | -2.44%               | -2.51%               | -1.01%               |
| Class ID C000023361 | -2.38%               | -2.45%               | -0.94%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-992486.44              | $-27702775.69                              |
| Month 2  | $-10108396.50            | $-19288157.18                              |
| Month 3  | $-125318.32              | $-11781907.90                              |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Manteca Unified School District, San Joaquin County, California, Certificates of Participation, Series 2004                                            | Manteca Unified School District, San Joaquin County, California, Certificates of Participation, Series 2004                                            | CUSIP: 564543BE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2022000 | PA      | $1477022.67   | 0.16%             | 2033-09-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Alta Public Schools - Obligated Group, Series 2024                      | California School Finance Authority, California, Charter School Revenue Bonds, Alta Public Schools - Obligated Group, Series 2024                      | CUSIP: 13058TTY6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1710000 | PA      | $1560182.28   | 0.17%             | 2044-06-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 1, Seri | Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 1, Seri | CUSIP: 344414DH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $945950.55    | 0.10%             | 2045-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2018B                         | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2018B                         | CUSIP: 13078YMW2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    920000 | PA      | $923181.27    | 0.10%             | 2048-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2022C                         | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2022C                         | CUSIP: 13078YUQ6<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1990000 | PA      | $2007212.90   | 0.22%             | 2052-09-02      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1                                                                                     | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1                                                                                     | CUSIP: 74514L3N5<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |  11187234 | PA      | $9592106.72   | 1.05%             | 2041-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Series 1999                               | Pittsburg Redevelopment Agency, California, Tax Allocation Bonds, Los Medanos Community Development Project, Series 1999                               | CUSIP: 724568GE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2990000 | PA      | $2779486.96   | 0.30%             | 2027-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City and County, California, Special Tax Bonds, Community Facilities District 2016-1 Treasure Island Improvement Area 2, Series 2023A    | San Francisco City and County, California, Special Tax Bonds, Community Facilities District 2016-1 Treasure Island Improvement Area 2, Series 2023A    | CUSIP: 79773LAH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    965000 | PA      | $970621.80    | 0.11%             | 2048-09-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2017A                                     | California Health Facilities Financing Authority, California, Revenue Bonds, Sutter Health, Refunding Series 2017A                                     | CUSIP: 13032UNX2<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3391181.20   | 0.37%             | 2048-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lake Elsinore Unified School District, California, Special Tax Bonds, Community Facilities District 2004-2, Series 2005                                | Lake Elsinore Unified School District, California, Special Tax Bonds, Community Facilities District 2004-2, Series 2005                                | CUSIP: 509640NF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1224045.03   | 0.13%             | 2035-09-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Orange County, California, Special Tax Bonds, Community Facilities District 2023-1 Rienda Phase 2B, Series 2023A                                       | Orange County, California, Special Tax Bonds, Community Facilities District 2023-1 Rienda Phase 2B, Series 2023A                                       | CUSIP: 68423PA91<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $516261.20    | 0.06%             | 2053-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Palomar Pomerado Health System, California, Revenue Bonds, Refunding Series 2016                                                                       | Palomar Pomerado Health System, California, Revenue Bonds, Refunding Series 2016                                                                       | CUSIP: 697528AT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4790000 | PA      | $3941762.85   | 0.43%             | 2039-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2015-2 Rio Bravo, Series 2015A                | California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2015-2 Rio Bravo, Series 2015A                | CUSIP: 13077EER7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2504035.00   | 0.27%             | 2045-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed Bonds, Series 2007C-2. Turbo Capital Appreciation          | Inland Empire Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed Bonds, Series 2007C-2. Turbo Capital Appreciation          | CUSIP: 45734TAE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17600000 | PA      | $2935460.00   | 0.32%             | 2047-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Ontario, California, Special Tax Bonds, Community Facilities District 55 Parklane Facilities, Series 2022                                              | Ontario, California, Special Tax Bonds, Community Facilities District 55 Parklane Facilities, Series 2022                                              | CUSIP: 68304NFE4<br>LEI: 254900FN91TH1F225693 | Long             | DBT              | MUN               | US        |    845000 | PA      | $833558.70    | 0.09%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Compton Public Finance Authority, California, Lease Revenue Bonds, Refunding & Various Capital Projects, Series 2008                                   | Compton Public Finance Authority, California, Lease Revenue Bonds, Refunding & Various Capital Projects, Series 2008                                   | CUSIP: 204726AM5<br>LEI: 549300WUETJKEL0LJQ58 | Long             | DBT              | MUN               | US        |    315000 | PA      | $315230.64    | 0.03%             | 2027-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Dublin Community Facilities District 2015-1 Dublin Crossing, California, Special Tax Bonds, Improvement  Area 2, Series 2019                           | Dublin Community Facilities District 2015-1 Dublin Crossing, California, Special Tax Bonds, Improvement  Area 2, Series 2019                           | CUSIP: 26362RAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6300000 | PA      | $6420496.95   | 0.70%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding Series 2014C                                                        | Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan Note, Refunding Series 2014C                                                        | CUSIP: 927676TM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $935360.40    | 0.10%             | 2039-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| San Francisco City and County, California, Special Tax Bonds, Community Facilities District 2014-1 Transbay Transit Center, Green Series 2022A         | San Francisco City and County, California, Special Tax Bonds, Community Facilities District 2014-1 Transbay Transit Center, Green Series 2022A         | CUSIP: 79772EFN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1178091.74   | 0.13%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Orange County, California, Special Tax Bonds, Community Facilities District 2021-1 Rienda, Series 2022A                                                | Orange County, California, Special Tax Bonds, Community Facilities District 2021-1 Rienda, Series 2022A                                                | CUSIP: 68423PZH6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $356489.21    | 0.04%             | 2042-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverside Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 40, Series 2025A                     | Riverside Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 40, Series 2025A                     | CUSIP: 769069Z65<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2375000 | PA      | $2334720.95   | 0.25%             | 2050-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Series 2022                                                                   | Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Series 2022                                                                   | CUSIP: 344414FJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $988381.40    | 0.11%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, Community Health Centers of the Central Coast, Inc., Series 2021A                               | California Municipal Finance Authority, Revenue Bonds, Community Health Centers of the Central Coast, Inc., Series 2021A                               | CUSIP: 13048VUZ9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1911215.40   | 0.21%             | 2046-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Rocklin Unified School District, Placer County, California, Special Tax Bonds, Community Facilities District 2, Series 2007                            | Rocklin Unified School District, Placer County, California, Special Tax Bonds, Community Facilities District 2, Series 2007                            | CUSIP: 773756JE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $775986.40    | 0.08%             | 2035-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016                            | California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016                            | CUSIP: 13058TLL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40105.14     | 0.00%             | 2046-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Wood Creek Apartments, Mezzanine Lien Series 2021B                 | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Wood Creek Apartments, Mezzanine Lien Series 2021B                 | CUSIP: 126292CG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2145000 | PA      | $1033295.62   | 0.11%             | 2059-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Pasadena Portfolio Social Bond, Mezzanine Senior Series 2021B      | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Pasadena Portfolio Social Bond, Mezzanine Senior Series 2021B      | CUSIP: 126292AS0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2110000 | PA      | $1517457.35   | 0.17%             | 2056-12-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2022C                                                          | California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2022C                                                          | CUSIP: 13051AFS2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   3975000 | PA      | $4207079.98   | 0.46%             | 2052-09-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2015A                           | California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2015A                           | CUSIP: 13058TCH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $578841.35    | 0.06%             | 2035-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Stockton, California, Special Tax Revenue Bonds, Community Facilities District 19-1, Cannery Park II, Series 2022                                      | Stockton, California, Special Tax Revenue Bonds, Community Facilities District 19-1, Cannery Park II, Series 2022                                      | CUSIP: 861341SV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4884204.00   | 0.53%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Rocketship Education ? Obligated Group, Series 2017A                                | California School Finance Authority, Charter School Revenue Bonds, Rocketship Education ? Obligated Group, Series 2017A                                | CUSIP: 13058TEU0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $881274.72    | 0.10%             | 2047-06-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Refunding Series 2005SS                                                                           | Puerto Rico Electric Power Authority, Revenue Bonds, Refunding Series 2005SS                                                                           | CUSIP: 74526YBR5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     25000 | PA      | $10643.31     | 0.00%             | 2030-07-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Rancho Cordova, California, Special Tax Bonds, Community Facilities District 2022-1 Arista Del Sol, Improvement Area 1 Series 2023                     | Rancho Cordova, California, Special Tax Bonds, Community Facilities District 2022-1 Arista Del Sol, Improvement Area 1 Series 2023                     | CUSIP: 75211RQR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $258141.08    | 0.03%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Menifee Union School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2006-1, Series 2014                      | Menifee Union School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2006-1, Series 2014                      | CUSIP: 586810VG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $469938.45    | 0.05%             | 2039-09-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Rancho Mirage, California, Special Tax Bonds, Community Facilities District 5 Section 31, Improvement Area 1 Series 2024A                              | Rancho Mirage, California, Special Tax Bonds, Community Facilities District 5 Section 31, Improvement Area 1 Series 2024A                              | CUSIP: 75213WCN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1378285.16   | 0.15%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities District 2015-1 Arambel-KDN, Refunding Series 2015             | West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities District 2015-1 Arambel-KDN, Refunding Series 2015             | CUSIP: 955232EW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $785595.74    | 0.09%             | 2045-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2017A                                  | California Municipal Finance Authority Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2017A                                  | CUSIP: 13048DCB2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   4020000 | PA      | $3645676.49   | 0.40%             | 2047-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Center City Anaheim, Series 2020A                                  | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Center City Anaheim, Series 2020A                                  | CUSIP: 126292AB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3375000 | PA      | $3018572.66   | 0.33%             | 2054-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, School Facility Revenue Bonds, Saint Mary's School-Aliso Viejo, Series 2024A                                   | California Municipal Finance Authority, School Facility Revenue Bonds, Saint Mary's School-Aliso Viejo, Series 2024A                                   | CUSIP: 13051BAC0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    435000 | PA      | $434293.43    | 0.05%             | 2054-05-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Elk Grove Finance Authority, California, Special Tax Revenue Bonds, Series 2024                                                                        | Elk Grove Finance Authority, California, Special Tax Revenue Bonds, Series 2024                                                                        | CUSIP: 287254HU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1019195.40   | 0.11%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Junior Lien Series 2014B               | San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Junior Lien Series 2014B               | CUSIP: 798111GD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100011.95    | 0.01%             | 2049-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, American Musical and Dramatic Academy Inc. AMDA Inc Project, Taxable Series 2023B               | California Municipal Finance Authority, Revenue Bonds, American Musical and Dramatic Academy Inc. AMDA Inc Project, Taxable Series 2023B               | CUSIP: 13048VP93<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    710000 | PA      | $734835.52    | 0.08%             | 2030-07-01      | Fixed         | 9.50%                 | Yes           |                  2 | On Loan: No      |
| Palm Desert, California, Special Tax Bonds, Community Facilities District 2021-1 University Park, Series 2021                                          | Palm Desert, California, Special Tax Bonds, Community Facilities District 2021-1 University Park, Series 2021                                          | CUSIP: 696627EQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $260590.36    | 0.03%             | 2031-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005H                                  | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005H                                  | CUSIP: 130911C57<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |       404 | PA      | $404.47       | 0.00%             | 2025-07-01      | Fixed         | 5.75%                 | No            |                  3 | On Loan: No      |
| Sacramento, California, Special Tax Bonds, North Natomas Community Facilities District 7, Series 2017-01                                               | Sacramento, California, Special Tax Bonds, North Natomas Community Facilities District 7, Series 2017-01                                               | CUSIP: 786071MA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    710000 | PA      | $721878.23    | 0.08%             | 2037-09-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Sacramento City Financing Authority, California, Tax Allocation Revenue Bonds, Merged Downtown Sacramento and Oak Park Projects, Series 2005A          | Sacramento City Financing Authority, California, Tax Allocation Revenue Bonds, Merged Downtown Sacramento and Oak Park Projects, Series 2005A          | CUSIP: 785849QP8<br>LEI: 549300D8GE38KYE3NW14 | Long             | DBT              | MUN               | US        |   4295000 | PA      | $3314785.65   | 0.36%             | 2031-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Northstar Community Services District, California, Special Tax Bonds, Community Facilities District 1, Refunding Series 2005                           | Northstar Community Services District, California, Special Tax Bonds, Community Facilities District 1, Refunding Series 2005                           | CUSIP: 66704PAQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2926584 | PA      | $790177.71    | 0.09%             | 2036-09-01      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2011A                         | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2011A                         | CUSIP: 13078YGQ2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    465000 | PA      | $439881.03    | 0.05%             | 2041-09-02      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Arts in Action Charter Schools - Obligated Group, Series 2020A                      | California School Finance Authority, Charter School Revenue Bonds, Arts in Action Charter Schools - Obligated Group, Series 2020A                      | CUSIP: 13058TJE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1277573.12   | 0.14%             | 2059-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Sulphur Springs Union School District, California, Special Tax Bonds, Community Facilities District 2014-1, Series 2022                                | Sulphur Springs Union School District, California, Special Tax Bonds, Community Facilities District 2014-1, Series 2022                                | CUSIP: 865483HR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5400000 | PA      | $4788532.08   | 0.52%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2014A                         | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2014A                         | CUSIP: 13078YHL2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2275000 | PA      | $2275149.47   | 0.25%             | 2043-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Urban Discovery Academy Project, Series 2024B                                       | California School Finance Authority, Charter School Revenue Bonds, Urban Discovery Academy Project, Series 2024B                                       | CUSIP: 13058TUY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    335000 | PA      | $337312.37    | 0.04%             | 2034-06-01      | Fixed         | 9.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Alta Public Schools - Obligated Group, Series 2024                      | California School Finance Authority, California, Charter School Revenue Bonds, Alta Public Schools - Obligated Group, Series 2024                      | CUSIP: 13058TTZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1225000 | PA      | $1096161.97   | 0.12%             | 2054-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2003-1 Improvement Area 1, Refunding Series 202 | River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2003-1 Improvement Area 1, Refunding Series 202 | CUSIP: 76827QGQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1110258.85   | 0.12%             | 2047-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Financing Authority, Certificates of Participation, Palomar Health, Series 2022A                                                  | California Municipal Financing Authority, Certificates of Participation, Palomar Health, Series 2022A                                                  | CUSIP: 130493CL1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1579396.59   | 0.17%             | 2052-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2020-02 Improvement Area 3 Atwell, Series 202 | California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2020-02 Improvement Area 3 Atwell, Series 202 | CUSIP: 13077EQL7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    475000 | PA      | $474617.25    | 0.05%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2013A                                                                                | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2013A                                                                                | CUSIP: 74526YCZ6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   2925000 | PA      | $1212940.78   | 0.13%             | 2026-01-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority Charter School Revenue Bonds, Ednovate ? Obligated Group, Series 2018                                              | California School Finance Authority Charter School Revenue Bonds, Ednovate ? Obligated Group, Series 2018                                              | CUSIP: 13058TGQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $885081.60    | 0.10%             | 2048-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Educational Facilities Revenue Bonds, Westside Neighborhood School Project, Series 2024                        | California Municipal Finance Authority, Educational Facilities Revenue Bonds, Westside Neighborhood School Project, Series 2024                        | CUSIP: 130497AY6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044093.40   | 0.11%             | 2064-06-15      | Fixed         | 6.38%                 | Yes           |                  2 | On Loan: No      |
| Lincoln, California, Special Tax Bonds, Community Facilities District 2005-1 Sorrento Project, Series 2014A                                            | Lincoln, California, Special Tax Bonds, Community Facilities District 2005-1 Sorrento Project, Series 2014A                                            | CUSIP: 533042HC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $925167.06    | 0.10%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority Charter School Revenue Bonds, Bright Star Schools - Obligated Group, Series 2017                                   | California School Finance Authority Charter School Revenue Bonds, Bright Star Schools - Obligated Group, Series 2017                                   | CUSIP: 13058TGE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1814910.60   | 0.20%             | 2047-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2014A                                 | California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2014A                                 | CUSIP: 13048DAY4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    465000 | PA      | $425166.94    | 0.05%             | 2044-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2013A                                                                                | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2013A                                                                                | CUSIP: 74526YBP9<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1415000 | PA      | $591711.68    | 0.06%             | 2029-07-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Redwood City Redevelopment Agency, California, Tax Allocation Bonds, Project Area 2, Series 2003A                                                      | Redwood City Redevelopment Agency, California, Tax Allocation Bonds, Project Area 2, Series 2003A                                                      | CUSIP: 757887BP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1006284.13   | 0.11%             | 2031-07-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-5, Improvement Area 1 Series 2023                | California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-5, Improvement Area 1 Series 2023                | CUSIP: 13051AGF9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    400000 | PA      | $411737.64    | 0.04%             | 2043-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority Charter School Revenue Bonds, Bright Star Schools - Obligated Group, Series 2017                                   | California School Finance Authority Charter School Revenue Bonds, Bright Star Schools - Obligated Group, Series 2017                                   | CUSIP: 13058TGF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2090000 | PA      | $1840163.49   | 0.20%             | 2054-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016                            | California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016                            | CUSIP: 13058TLZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1529523.68   | 0.17%             | 2041-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Social Bonds ?  iLead Lancaster Project, Series 2021A                               | California School Finance Authority, Charter School Revenue Bonds, Social Bonds ?  iLead Lancaster Project, Series 2021A                               | CUSIP: 13058TKP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $448444.67    | 0.05%             | 2041-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Community High School Foundation Inc, Series 2017                                   | California School Finance Authority, Charter School Revenue Bonds, Community High School Foundation Inc, Series 2017                                   | CUSIP: 13058TTA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $211089.31    | 0.02%             | 2047-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010XX                                                                                     | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010XX                                                                                     | CUSIP: 74526YBH7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1445000 | PA      | $605025.83    | 0.07%             | 2025-07-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Lathrop, California, Special Tax Bonds, Community Facilities District 2018-1 Central Lathrop Specific Plan Improvement Areas 5, Series 2019            | Lathrop, California, Special Tax Bonds, Community Facilities District 2018-1 Central Lathrop Specific Plan Improvement Areas 5, Series 2019            | CUSIP: 51825PDK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    945000 | PA      | $937155.56    | 0.10%             | 2043-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Rohnert Park Community Development Agency, California, Tax Allocation Bonds, Series 1999                                                               | Rohnert Park Community Development Agency, California, Tax Allocation Bonds, Series 1999                                                               | CUSIP: 77539HDA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    935000 | PA      | $690132.10    | 0.08%             | 2033-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Community Housing Agency, California, Essential Housing Revenue Bonds, The Arbors, Series 2020A                                             | California Community Housing Agency, California, Essential Housing Revenue Bonds, The Arbors, Series 2020A                                             | CUSIP: 13013FAF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5880000 | PA      | $5439331.04   | 0.59%             | 2050-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Moda at Monrovia Station, Social Series 2021A-2                    | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Moda at Monrovia Station, Social Series 2021A-2                    | CUSIP: 126292AK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  22660000 | PA      | $16660604.11  | 1.82%             | 2056-10-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2003-1 Improvement Area 1, Subordinate Series 2 | River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2003-1 Improvement Area 1, Subordinate Series 2 | CUSIP: 76827QHD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997345.80    | 0.11%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco Airport Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2023C                        | San Francisco Airport Commission, California, Revenue Bonds, San Francisco International Airport, Refunding Second Series 2023C                        | CUSIP: 79766DVY2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |  20000000 | PA      | $21034724.00  | 2.29%             | 2048-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, School Facility Revenue Bonds, Saint Mary's School-Aliso Viejo, Series 2024A                                   | California Municipal Finance Authority, School Facility Revenue Bonds, Saint Mary's School-Aliso Viejo, Series 2024A                                   | CUSIP: 13051BAB2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    350000 | PA      | $349376.09    | 0.04%             | 2044-05-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| California Pollution Control Financing Authority Water Furnishing Revenue Bonds (Poseidon Resources (Channelside) LP Desalination Project), Series 202 | California Pollution Control Financing Authority Water Furnishing Revenue Bonds (Poseidon Resources (Channelside) LP Desalination Project), Series 202 | CUSIP: 13054WBE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1088711.03   | 0.12%             | 2045-11-21      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2012-02, Manteca Lifestyle Center, Series 201 | California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2012-02, Manteca Lifestyle Center, Series 201 | CUSIP: 13077EDW7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    945000 | PA      | $945783.03    | 0.10%             | 2033-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Corona, California, Special Tax Bonds, Community Facilities District 2002-1 Dos Lagos Improvement Area 1, Refunding Series 2017                        | Corona, California, Special Tax Bonds, Community Facilities District 2002-1 Dos Lagos Improvement Area 1, Refunding Series 2017                        | CUSIP: 219680CZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    670000 | PA      | $681928.68    | 0.07%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Central Valley Energy Authority, California, Commodity Supply Revenue Bonds, Series 2025                                                               | Central Valley Energy Authority, California, Commodity Supply Revenue Bonds, Series 2025                                                               | CUSIP: 15569DAA0<br>LEI: 254900G5IPQ9MA3FRJ55 | Long             | DBT              | MUN               | US        |  48170000 | PA      | $50421114.16  | 5.50%             | 2055-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Refunding National Series 2007VV                                                            | Puerto Rico Electric Power Authority, Power Revenue Bonds, Refunding National Series 2007VV                                                            | CUSIP: 74526Q2V3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1140000 | PA      | $1108689.79   | 0.12%             | 2034-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Sacramento, California, Special Tax Bonds, Community Facilities District 05-1 College Square, Series 2007                                              | Sacramento, California, Special Tax Bonds, Community Facilities District 05-1 College Square, Series 2007                                              | CUSIP: 786071JQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $251027.20    | 0.03%             | 2037-09-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Altana Glendale, Series 2021A-2                                    | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Altana Glendale, Series 2021A-2                                    | CUSIP: 126292AM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3699004.50   | 0.40%             | 2056-10-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Elsinore Valley Municipal Water District, California, Special Tax Bonds, Community Facilities District 2020-1 Horsethief Area 1A, Series 2021A         | Elsinore Valley Municipal Water District, California, Special Tax Bonds, Community Facilities District 2020-1 Horsethief Area 1A, Series 2021A         | CUSIP: 290322DV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1014502.82   | 0.11%             | 2051-09-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2014B                         | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2014B                         | CUSIP: 13078YHY4<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2060000 | PA      | $2060075.60   | 0.22%             | 2044-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Madera County, California, Special Tax Bonds, Community Facilities District 2021-1 Tesoro Viejo II Improvement Area 1, Series 2022                     | Madera County, California, Special Tax Bonds, Community Facilities District 2021-1 Tesoro Viejo II Improvement Area 1, Series 2022                     | CUSIP: 55646MDC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8660000 | PA      | $8802456.13   | 0.96%             | 2053-09-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, College Housing Revenue Bonds, National Campus Community Development - Hooper Street LLC Proje | California Statewide Communities Development Authority, College Housing Revenue Bonds, National Campus Community Development - Hooper Street LLC Proje | CUSIP: 13081CAE8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    450000 | PA      | $423996.98    | 0.05%             | 2052-07-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, California Baptist University, Refunding Series 2025A                                           | California Municipal Finance Authority, Revenue Bonds, California Baptist University, Refunding Series 2025A                                           | CUSIP: 13048V3G1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $502807.90    | 0.05%             | 2054-11-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 1, Seri | Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 1, Seri | CUSIP: 344414EX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $3965189.20   | 0.43%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lake Elsinore, California, Special Tax Bonds, Community Facilities District 2006-1 Summerly Improvement Area KK, Series 2021                           | Lake Elsinore, California, Special Tax Bonds, Community Facilities District 2006-1 Summerly Improvement Area KK, Series 2021                           | CUSIP: 50963NUC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $423414.05    | 0.05%             | 2042-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Education Revenue Bonds, STREAM Charter Schools Project, Series 2020A                                          | California Municipal Finance Authority, Education Revenue Bonds, STREAM Charter Schools Project, Series 2020A                                          | CUSIP: 13049AAN3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2260000 | PA      | $1935984.70   | 0.21%             | 2051-06-15      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds, Palomar Estates West, Refunding Series 2015                          | Independent Cities Finance Authority, California, Mobile Home Park Revenue Bonds, Palomar Estates West, Refunding Series 2015                          | CUSIP: 45385LHD8<br>LEI: 549300ZZZYTBUL6FR983 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001529.90   | 0.11%             | 2036-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oakland Unified School District, Alameda County, California, General Obligation Bonds, Election 2020, Series 2023A                                     | Oakland Unified School District, Alameda County, California, General Obligation Bonds, Election 2020, Series 2023A                                     | CUSIP: 672325R58<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5255206.00   | 0.57%             | 2048-08-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C                                          | Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C                                          | CUSIP: 03255LHT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2320000 | PA      | $1628701.48   | 0.18%             | 2035-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2018A                                 | California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2018A                                 | CUSIP: 13048DCQ9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1614867.84   | 0.18%             | 2049-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Lease Revenue Bonds, Bella Mente Montessori Academy Project, Series 2018A                       | California Municipal Finance Authority, Charter School Lease Revenue Bonds, Bella Mente Montessori Academy Project, Series 2018A                       | CUSIP: 130486BC6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1075304.17   | 0.12%             | 2048-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Downtown College Prep - Obligated Group, Series 2016                                | California School Finance Authority, Charter School Revenue Bonds, Downtown College Prep - Obligated Group, Series 2016                                | CUSIP: 13058TDQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1180000 | PA      | $708000.00    | 0.08%             | 2046-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Blythe Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Redevelopment Project 1, Refunding Series 2015                         | Blythe Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Redevelopment Project 1, Refunding Series 2015                         | CUSIP: 096444BC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1904017.17   | 0.21%             | 2038-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Rocketship Public Schools ? Obligated Group, Series 2017G                           | California School Finance Authority, Charter School Revenue Bonds, Rocketship Public Schools Obligated Group, Series 2017G                             | CUSIP: 13058TFY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990000 | PA      | $974151.59    | 0.11%             | 2037-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2019-1 Phase 2 Public Improvements, Series 2019 | River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2019-1 Phase 2 Public Improvements, Series 2019 | CUSIP: 76827QEN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $828673.20    | 0.09%             | 2046-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A                                  | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A                                  | CUSIP: 130911B25<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |      4854 | PA      | $4853.67      | 0.00%             | 2035-07-01      | Fixed         | 5.75%                 | No            |                  3 | On Loan: No      |
| Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 7A-1, Series 2015A                                              | Beaumont Financing Authority, California, Local Agency Revenue Bonds, Improvement Area 7A-1, Series 2015A                                              | CUSIP: 074406RQ4<br>LEI: 549300T48VOR8NYFNT88 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $998072.40    | 0.11%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority School Facility Revenue Bonds, Green Dot Public Schools California Projects, Series 2018A                          | California School Finance Authority School Facility Revenue Bonds, Green Dot Public Schools California Projects, Series 2018A                          | CUSIP: 13059TFH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    305000 | PA      | $292809.46    | 0.03%             | 2048-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, Clinicas del Camino Real, Inc., Series 2020                                                     | California Municipal Finance Authority, Revenue Bonds, Clinicas del Camino Real, Inc., Series 2020                                                     | CUSIP: 13048VNK0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1448751.36   | 0.16%             | 2028-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indio Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Subordinate Lien Refunding Series 2008A               | Indio Redevelopment Agency, California, Tax Allocation Bonds, Merged Area Redevelopment Project, Subordinate Lien Refunding Series 2008A               | CUSIP: 455719CM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $155360.79    | 0.02%             | 2028-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Infrastructure and Economic Development Bank, Revenue Bonds, Los Angeles County Museum of Natural History Foundation, Series 2020           | California Infrastructure and Economic Development Bank, Revenue Bonds, Los Angeles County Museum of Natural History Foundation, Series 2020           | CUSIP: 13034AK82<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   4250000 | PA      | $3722260.92   | 0.41%             | 2050-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C                                          | Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C                                          | CUSIP: 03255LHU6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1985000 | PA      | $1336305.18   | 0.15%             | 2035-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California School finance Authority, School Facility Revenue Bonds,  ICEF - View Park Elementary and Middle Schools, Series 2014A                      | California School finance Authority, School Facility Revenue Bonds,  ICEF - View Park Elementary and Middle Schools, Series 2014A                      | CUSIP: 13059TBF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $511231.19    | 0.06%             | 2049-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Rocketship Education ? Obligated Group, Series 2017A                                | California School Finance Authority, Charter School Revenue Bonds, Rocketship Education ? Obligated Group, Series 2017A                                | CUSIP: 13058TEV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $920491.60    | 0.10%             | 2052-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, TEACH Public Schools Obligated Group, Series 2019A                      | California School Finance Authority, California, Charter School Revenue Bonds, TEACH Public Schools Obligated Group, Series 2019A                      | CUSIP: 13058THM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1600000 | PA      | $1412037.12   | 0.15%             | 2058-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| San Francisco City and County Infrastructure and Revitalization Financing District 1 Treasure Island, California, Tax Increment Revenue Bonds, Facilit | San Francisco City and County Infrastructure and Revitalization Financing District 1 Treasure Island, California, Tax Increment Revenue Bonds, Facilit | CUSIP: 79773NAH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    905000 | PA      | $846931.76    | 0.09%             | 2043-09-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| San Francisco City and County Infrastructure and Revitalization Financing District 1 Treasure Island, California, Tax Increment Revenue Bonds, Housing | San Francisco City and County Infrastructure and Revitalization Financing District 1 Treasure Island, California, Tax Increment Revenue Bonds, Housing | CUSIP: 79773NAF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1353832.65   | 0.15%             | 2052-09-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Rio Vista, California, Special Tax Bonds, Community Faciliites District 2018-1 Liberty Community, Series 2018-1                                        | Rio Vista, California, Special Tax Bonds, Community Faciliites District 2018-1 Liberty Community, Series 2018-1                                        | CUSIP: 767236BN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1185000 | PA      | $1189800.32   | 0.13%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, The Master's University & Seminary, Series 2019                                                 | California Municipal Finance Authority, Revenue Bonds, The Master's University & Seminary, Series 2019                                                 | CUSIP: 13048VMV7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1020718.70   | 0.11%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Menifee Union School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2011-1, Improvement Area 7, Series 2021  | Menifee Union School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2011-1, Improvement Area 7, Series 2021  | CUSIP: 5868105V1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2021604.60   | 0.22%             | 2052-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Hemet Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2021-7, Series 2023                      | Hemet Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2021-7, Series 2023                      | CUSIP: 423540HH9<br>LEI: 54930041KL801EWMW566 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $992386.30    | 0.11%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority, Revenue Bonds, City of Hope National Medical Center, Series 2019                                     | California Health Facilities Financing Authority, Revenue Bonds, City of Hope National Medical Center, Series 2019                                     | CUSIP: 13032UUN6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2485000 | PA      | $2404377.41   | 0.26%             | 2049-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Refunding Series 2015R-1             | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Refunding Series 2015R-1             | CUSIP: 13080SHR8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1120000 | PA      | $1120958.72   | 0.12%             | 2040-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Romoland School District, California, Special Tax Bonds, Community Facilities District 2004-1 Heritage Lake Improvement Area 3, Series 2013            | Romoland School District, California, Special Tax Bonds, Community Facilities District 2004-1 Heritage Lake Improvement Area 3, Series 2013            | CUSIP: 776192LJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2635000 | PA      | $2635298.28   | 0.29%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Lease Revenue Bonds, Pathways to College Project, Series 2023A                                     | California School Finance Authority, Charter School Lease Revenue Bonds, Pathways to College Project, Series 2023A                                     | CUSIP: 13058PAB4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6740000 | PA      | $6761560.59   | 0.74%             | 2053-06-15      | Fixed         | 7.38%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, Turning Point School, Series 2024                                                               | California Municipal Finance Authority, Revenue Bonds, Turning Point School, Series 2024                                                               | CUSIP: 13048VS74<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1027251.06   | 0.11%             | 2044-06-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 20 Russell Ranch, Series 2020            | Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 20 Russell Ranch, Series 2020            | CUSIP: 344414FY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1267161.50   | 0.14%             | 2047-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Murrieta, California, Special Tax Bonds, Community Facilities District 2005-5 Golden City Improvement Area A, Series 2017                              | Murrieta, California, Special Tax Bonds, Community Facilities District 2005-5 Golden City Improvement Area A, Series 2017                              | CUSIP: 62718PSA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $827891.87    | 0.09%             | 2046-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oceanside, California, Special Tax Bonds, Community Facilities District 2006-1, Pacific Coast Business Park, Series 2017                               | Oceanside, California, Special Tax Bonds, Community Facilities District 2006-1, Pacific Coast Business Park, Series 2017                               | CUSIP: 675361JC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1263718.88   | 0.14%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Classical Academies Project, Series 2017A                                           | California School Finance Authority, Charter School Revenue Bonds, Classical Academies Project, Series 2017A                                           | CUSIP: 13058TGL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    805000 | PA      | $775931.45    | 0.08%             | 2044-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Arts in Action Charter Schools - Obligated Group, Series 2020A                      | California School Finance Authority, Charter School Revenue Bonds, Arts in Action Charter Schools - Obligated Group, Series 2020A                      | CUSIP: 13058TJD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5550000 | PA      | $4617368.57   | 0.50%             | 2050-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority Charter School Revenue Bonds, River Charter Schools Project, Series 2018A                                       | California Municipal Finance Authority Charter School Revenue Bonds, River Charter Schools Project, Series 2018A                                       | CUSIP: 13048DCG1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    250000 | PA      | $231543.25    | 0.03%             | 2053-06-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Federally Taxable Build America Bonds, Series 2010YY                                        | Puerto Rico Electric Power Authority, Power Revenue Bonds, Federally Taxable Build America Bonds, Series 2010YY                                        | CUSIP: 74526YFC4<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $3169742.28   | 0.35%             | 2040-07-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Riverside County, California, Special Tax Bonds, Community Facilities District 07-2 Clinton Keith, Series 2017                                         | Riverside County, California, Special Tax Bonds, Community Facilities District 07-2 Clinton Keith, Series 2017                                         | CUSIP: 76911FUJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    535000 | PA      | $535018.83    | 0.06%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Port Authority, Port Revenue Bonds, Private Activity Series 2018B                                                                                 | Guam Port Authority, Port Revenue Bonds, Private Activity Series 2018B                                                                                 | CUSIP: 400652AP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $403909.96    | 0.04%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Social Certificates Series 2023-1                                      | California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Social Certificates Series 2023-1                                      | CUSIP: 13033DAL9<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   8334673 | PA      | $8263405.77   | 0.90%             | 2036-09-20      | Fixed         | 4.38%                 | 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        |   3000000 | PA      | $2846710.50   | 0.31%             | 2047-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds, Series 2007A                                                    | Guam Economic Development & Commerce Authority, Tobacco Settlement Asset-Backed Bonds, Series 2007A                                                    | CUSIP: 40064LAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3460000 | PA      | $3178231.79   | 0.35%             | 2047-06-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Westside Union School District, California, Special Tax Bonds, Community Facilities District 2016-1 Improvement Area B, Series 2023                    | Westside Union School District, California, Special Tax Bonds, Community Facilities District 2016-1 Improvement Area B, Series 2023                    | CUSIP: 961491EE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1890000 | PA      | $1780673.71   | 0.19%             | 2052-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Chino, California, Special Tax Bonds, Community Facilities District 2003-3 Improvement Area 10, Series 2024.                                           | Chino, California, Special Tax Bonds, Community Facilities District 2003-3 Improvement Area 10, Series 2024.                                           | CUSIP: 169511XX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    740000 | PA      | $718671.94    | 0.08%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Washington Township Health Care District, California, Revenue Bonds, Series 2017A                                                                      | Washington Township Health Care District, California, Revenue Bonds, Series 2017A                                                                      | CUSIP: 940204ED8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $193248.46    | 0.02%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Housing Agency, California, Essential Housing Revenue Bonds, K Street Flats, Series 2021A-2                                       | California Community Housing Agency, California, Essential Housing Revenue Bonds, K Street Flats, Series 2021A-2                                       | CUSIP: 13013FBF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2994532.00   | 0.33%             | 2050-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Revenue Bonds, Lancer Educational Student Housing Project, Refunding Series 2016A              | California Statewide Communities Development Authority, Revenue Bonds, Lancer Educational Student Housing Project, Refunding Series 2016A              | CUSIP: 13080SNN0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2090000 | PA      | $1946024.50   | 0.21%             | 2046-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009C                                                        | M-S-R Energy Authority, California, Gas Revenue Bonds, Citigroup Prepay Contracts, Series 2009C                                                        | CUSIP: 55374SAH3<br>LEI: 549300UEMSS1JTK5YB98 | Long             | DBT              | MUN               | US        |   7185000 | PA      | $8463690.74   | 0.92%             | 2034-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Beaumont Unified School District, California, Special Tax Bonds, Community Facilities District 2020-1, Improvement Area 2 Series 2023                  | Beaumont Unified School District, California, Special Tax Bonds, Community Facilities District 2020-1, Improvement Area 2 Series 2023                  | CUSIP: 074447AX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $865739.61    | 0.09%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City and County, California, Special Tax Bonds, Community Facilities District 2014-1 Transbay Transit Center, Green Series 2022A         | San Francisco City and County, California, Special Tax Bonds, Community Facilities District 2014-1 Transbay Transit Center, Green Series 2022A         | CUSIP: 79772EFL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1044867.40   | 0.11%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Orange County, California, Special Tax Bonds, Community Facilities District 2021-1 Rienda, Series 2022A                                                | Orange County, California, Special Tax Bonds, Community Facilities District 2021-1 Rienda, Series 2022A                                                | CUSIP: 68423PZJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3427076.92   | 0.37%             | 2047-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Victor Valley Union High School District, San Bernardino County, California, Special Tax Bonds, Community Facilities District 2007-1, Series 2013      | Victor Valley Union High School District, San Bernardino County, California, Special Tax Bonds, Community Facilities District 2007-1, Series 2013      | CUSIP: 926059CY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $700030.87    | 0.08%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Valley International Preparatory High School Project, Series 2022A                  | California School Finance Authority, Charter School Revenue Bonds, Valley International Preparatory High School Project, Series 2022A                  | CUSIP: 13058TPJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $719790.80    | 0.08%             | 2052-03-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Rocklin Unified School District, Placer County, California, Special Tax Bonds, Community Facilities District 2, Series 2007                            | Rocklin Unified School District, Placer County, California, Special Tax Bonds, Community Facilities District 2, Series 2007                            | CUSIP: 773756JD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $708529.24    | 0.08%             | 2034-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento Valley & Northern Nevada Project, Series 2014A                | California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento Valley & Northern Nevada Project, Series 2014A                | CUSIP: 13048TSY0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   3700000 | PA      | $2848720.28   | 0.31%             | 2045-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| San Bernardino County, California, Special Tax Bonds, Community Facilities District 2006-1 Lytle Creek North Improvement Area 1, Series 2015           | San Bernardino County, California, Special Tax Bonds, Community Facilities District 2006-1 Lytle Creek North Improvement Area 1, Series 2015           | CUSIP: 796844NU8<br>LEI: 254900RTS8DDNPA7MX91 | Long             | DBT              | MUN               | US        |    550000 | PA      | $550423.89    | 0.06%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency, California, Multifamily Housing Revenue Bonds, Power Station Block 7B, Limited Obligation Senior Series 2024L       | California Housing Finance Agency, California, Multifamily Housing Revenue Bonds, Power Station Block 7B, Limited Obligation Senior Series 2024L       | CUSIP: 13034DAG9<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016379.20   | 0.11%             | 2027-12-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Altana Glendale, Series 2021A-1                                    | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Altana Glendale, Series 2021A-1                                    | CUSIP: 126292AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  18795000 | PA      | $14680109.16  | 1.60%             | 2046-10-01      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, School Facility Revenue Bonds, Green Dot Public Schools California Projects, Series 2022A                         | California School Finance Authority, School Facility Revenue Bonds, Green Dot Public Schools California Projects, Series 2022A                         | CUSIP: 13059THH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1180512.61   | 0.13%             | 2052-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Tobacco Securitization Authority of Southern California, Tobacco Settlement Asset-Backed Bonds, San Diego County Tobacco Asset Securitization Corporat | Tobacco Securitization Authority of Southern California, Tobacco Settlement Asset-Backed Bonds, San Diego County Tobacco Asset Securitization Corporat | CUSIP: 888804AZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $1203292.00   | 0.13%             | 2046-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Silicon Valley Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed Bonds, Santa Clara County Tobacco Securitization Corporat | Silicon Valley Tobacco Securitization Authority, California, Tobacco Settlement Asset-Backed Bonds, Santa Clara County Tobacco Securitization Corporat | CUSIP: 82706TAF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7500000 | PA      | $1759866.00   | 0.19%             | 2047-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. - Lincoln Project, Taxable Series 2019B               | California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. - Lincoln Project, Taxable Series 2019B               | CUSIP: 13048DCY2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $866360.90    | 0.09%             | 2057-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Lease Revenue Bonds, Pathways to College Project, Series 2023A                                     | California School Finance Authority, Charter School Lease Revenue Bonds, Pathways to College Project, Series 2023A                                     | CUSIP: 13058PAA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2075000 | PA      | $2085357.36   | 0.23%             | 2043-06-15      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2007TT                                                                                     | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2007TT                                                                                     | CUSIP: 74526YDA0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1950000 | PA      | $800889.02    | 0.09%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2015A                                  | California Municipal Finance Authority Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2015A                                  | CUSIP: 13048DBJ6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1250416.94   | 0.14%             | 2045-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C                                          | Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C                                          | CUSIP: 03255LBQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $200470.44    | 0.02%             | 2030-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, California Baptist University, Refunding Series 2025A                                           | California Municipal Finance Authority, Revenue Bonds, California Baptist University, Refunding Series 2025A                                           | CUSIP: 13048V3F3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    775000 | PA      | $779919.00    | 0.09%             | 2045-11-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010XX                                                                                     | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010XX                                                                                     | CUSIP: 74526YDQ5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     95000 | PA      | $38957.16     | 0.00%             | 2026-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Partnerships to Uplift Communities Project, Refunding Social Series 2023            | California School Finance Authority, Charter School Revenue Bonds, Partnerships to Uplift Communities Project, Refunding Social Series 2023            | CUSIP: 13058TSG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $429402.07    | 0.05%             | 2047-08-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Education Revenue Bonds, Literacy First Charter Schools Project, Series 2019A                                  | California Municipal Finance Authority, Education Revenue Bonds, Literacy First Charter Schools Project, Series 2019A                                  | CUSIP: 13049AAJ2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1145000 | PA      | $1159034.49   | 0.13%             | 2039-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Saint Louis, Missouri, Tax Increment Financing Revenue Bonds, Grace Lofts Redevelopment Projects, Series 2007A                                         | Saint Louis, Missouri, Tax Increment Financing Revenue Bonds, Grace Lofts Redevelopment Projects, Series 2007A                                         | CUSIP: 85232CAH7<br>LEI: 5493004O38W8EYGEZ656 | Long             | DBT              | MUN               | US        |    428000 | PA      | $12840.00     | 0.00%             | 2026-12-31      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| Tracy, California, Special Tax Bonds, Community Facilities District 2016-1 Tracy Hills,  Improvement Area 2, Series 2023                               | Tracy, California, Special Tax Bonds, Community Facilities District 2016-1 Tracy Hills,  Improvement Area 2, Series 2023                               | CUSIP: 892376UB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2700000 | PA      | $2826815.49   | 0.31%             | 2053-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, Turning Point School, Series 2024                                                               | California Municipal Finance Authority, Revenue Bonds, Turning Point School, Series 2024                                                               | CUSIP: 13048VS82<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1192515.35   | 0.13%             | 2054-06-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority Charter School Revenue Bonds, River Charter Schools Project, Series 2018A                                       | California Municipal Finance Authority Charter School Revenue Bonds, River Charter Schools Project, Series 2018A                                       | CUSIP: 13048DCF3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1878214.00   | 0.20%             | 2048-06-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A                                                         | California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A                                                         | CUSIP: 13048TP49<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $920122.00    | 0.10%             | 2047-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2020-06, Series 2022B                                 | California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2020-06, Series 2022B                                 | CUSIP: 13051AFH6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1043489.20   | 0.11%             | 2052-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2017B                         | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2017B                         | CUSIP: 13078YLS2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    375000 | PA      | $376979.51    | 0.04%             | 2047-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A                                  | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A                                  | CUSIP: 130911A91<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |      4493 | PA      | $4492.93      | 0.00%             | 2030-07-01      | Fixed         | 5.75%                 | No            |                  3 | On Loan: No      |
| William S. Hart Union High School District, Los Angeles County, California, Special Tax Bonds, Community Facilities District 2015-1, Series 2017       | William S. Hart Union High School District, Los Angeles County, California, Special Tax Bonds, Community Facilities District 2015-1, Series 2017       | CUSIP: 969281HQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1445000 | PA      | $1411439.88   | 0.15%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023E-1                                              | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023E-1                                              | CUSIP: 13013JDB9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   6000000 | PA      | $6276274.80   | 0.68%             | 2054-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Taxable Series 2010EEE                                                                            | Puerto Rico Electric Power Authority, Revenue Bonds, Taxable Series 2010EEE                                                                            | CUSIP: 74526YEZ4<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   2380000 | PA      | $953313.02    | 0.10%             | 2030-07-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C                                          | Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C                                          | CUSIP: 03255LBU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4475000 | PA      | $3162145.53   | 0.35%             | 2034-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Orange County Educational Arts Academy Project, Series 2023A                        | California School Finance Authority, Charter School Revenue Bonds, Orange County Educational Arts Academy Project, Series 2023A                        | CUSIP: 13058TSB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $691905.62    | 0.08%             | 2053-06-01      | Fixed         | 5.88%                 | Yes           |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority, California, Airport Revenue Bonds, International Senior Series 2023B                                      | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, International Senior Series 2023B                                      | CUSIP: 79739GRM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $10175122.00  | 1.11%             | 2058-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Alameda Community Facilities District No. 22-1, California, Alameda Marina, Special Tax Bonds, Green Series 2023                                       | Alameda Community Facilities District No. 22-1, California, Alameda Marina, Special Tax Bonds, Green Series 2023                                       | CUSIP: 010780DF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1233075.00   | 0.13%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A                                           | Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Series 2013A                                           | CUSIP: 345105HU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $3181388.50   | 0.35%             | 2037-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Cathedral City Public Financing Authority, California, Tax Allocation Bonds, Merged Redevelopment Project, Series 2000A                                | Cathedral City Public Financing Authority, California, Tax Allocation Bonds, Merged Redevelopment Project, Series 2000A                                | CUSIP: 14915YDF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $783718.39    | 0.09%             | 2033-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California School finance Authority, School Facility Revenue Bonds,  ICEF - View Park Elementary and Middle Schools, Series 2014A                      | California School finance Authority, School Facility Revenue Bonds,  ICEF - View Park Elementary and Middle Schools, Series 2014A                      | CUSIP: 13059TBE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $983636.20    | 0.11%             | 2044-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children's Hosptial at Stanford, Series 2017A                   | California Health Facilities Financing Authority, Revenue Bonds, Lucile Salter Packard Children's Hosptial at Stanford, Series 2017A                   | CUSIP: 13032UPX0<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   7800000 | PA      | $7698203.76   | 0.84%             | 2056-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023G                                                | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023G                                                | CUSIP: 13013JDG8<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |  44950000 | PA      | $47171752.64  | 5.15%             | 2054-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2016A                                 | California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2016A                                 | CUSIP: 13048DBQ0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   3695000 | PA      | $3409782.21   | 0.37%             | 2041-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Arts in Action Charter Schools - Obligated Group, Series 2020A                      | California School Finance Authority, Charter School Revenue Bonds, Arts in Action Charter Schools - Obligated Group, Series 2020A                      | CUSIP: 13058TJC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2510000 | PA      | $2230644.53   | 0.24%             | 2040-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2020-02 Improvement Area 3 Atwell, Series 202 | California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2020-02 Improvement Area 3 Atwell, Series 202 | CUSIP: 13077EQM5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    650000 | PA      | $644800.46    | 0.07%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City and County Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Mission Bay South Redevelopment Project, Series | San Francisco City and County Redevelopment Agency Successor Agency, California, Tax Allocation Bonds, Mission Bay South Redevelopment Project, Series | CUSIP: 79770GAW6<br>LEI: 5493001TPOZL3UK8DX25 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1249198.75   | 0.14%             | 2043-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Westgate Phase 1-Pasadena Apartments, Senior Lien Series 2021A-2   | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Westgate Phase 1-Pasadena Apartments, Senior Lien Series 2021A-2   | CUSIP: 126292CB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5050000 | PA      | $2922059.28   | 0.32%             | 2057-06-01      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| Riverside County, California, Special Tax Bonds, Community Facilities District 07-2 Clinton Keith, Series 2017                                         | Riverside County, California, Special Tax Bonds, Community Facilities District 07-2 Clinton Keith, Series 2017                                         | CUSIP: 76911FUH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001553.70   | 0.11%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Ivy Academia, Series 2021A                                                          | California School Finance Authority, Charter School Revenue Bonds, Ivy Academia, Series 2021A                                                          | CUSIP: 13058TNN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $878859.44    | 0.10%             | 2041-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, American Musical and Dramatic Academy Inc., Series 2023A                                        | California Municipal Finance Authority, Revenue Bonds, American Musical and Dramatic Academy Inc., Series 2023A                                        | CUSIP: 13048VP85<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |  13905000 | PA      | $13544254.24  | 1.48%             | 2053-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Valley International Preparatory High School Project, Series 2022A                  | California School Finance Authority, Charter School Revenue Bonds, Valley International Preparatory High School Project, Series 2022A                  | CUSIP: 13058TPK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $703001.80    | 0.08%             | 2062-03-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| University of Puerto Rico, University System Revenue Bonds, Refunding Series 2006P                                                                     | University of Puerto Rico, University System Revenue Bonds, Refunding Series 2006P                                                                     | CUSIP: 914811NU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $560464.79    | 0.06%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Menifee, California, Special Tax Bonds, Community Facilities District 2023-1, Rockport Ranch Series 2024                                               | Menifee, California, Special Tax Bonds, Community Facilities District 2023-1, Rockport Ranch Series 2024                                               | CUSIP: 58680WFN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2095000 | PA      | $2067242.51   | 0.23%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Jamul Dulzura Union School District, San Diego County, California, General Obligation Bonds, Election 1995 Series 2004A                                | Jamul Dulzura Union School District, San Diego County, California, General Obligation Bonds, Election 1995 Series 2004A                                | CUSIP: 470756CP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1205000 | PA      | $1073738.51   | 0.12%             | 2028-11-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Alameda Community Facilities District No. 22-1, California, Alameda Marina, Special Tax Bonds, Green Series 2023                                       | Alameda Community Facilities District No. 22-1, California, Alameda Marina, Special Tax Bonds, Green Series 2023                                       | CUSIP: 010780DE1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    850000 | PA      | $848645.61    | 0.09%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Santa Ana Unified School District, Orange County, California, General Obligation Bonds, 2018 Election Series 2022C                                     | Santa Ana Unified School District, Orange County, California, General Obligation Bonds, 2018 Election Series 2022C                                     | CUSIP: 801155C59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5680000 | PA      | $5331254.25   | 0.58%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. - Lincoln Project, Taxable Series 2019B               | California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. - Lincoln Project, Taxable Series 2019B               | CUSIP: 13048DCX4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1515000 | PA      | $1353647.96   | 0.15%             | 2049-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Russell Westbrook Why Not? Academy ? Obligated Group, Series 2021A                  | California School Finance Authority, Charter School Revenue Bonds, Russell Westbrook Why Not? Academy ? Obligated Group, Series 2021A                  | CUSIP: 13058TNX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    605000 | PA      | $573840.75    | 0.06%             | 2031-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Roseville, California, Special Tax Bonds, SVSP Westpark-Federico Community Facilities District 1, Series 2022                                          | Roseville, California, Special Tax Bonds, SVSP Westpark-Federico Community Facilities District 1, Series 2022                                          | CUSIP: 7778702U9<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |   2755000 | PA      | $2731024.06   | 0.30%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento, California, Special Tax Bonds, North Natomas Community Facilities District 7, Series 2017-01                                               | Sacramento, California, Special Tax Bonds, North Natomas Community Facilities District 7, Series 2017-01                                               | CUSIP: 786071MB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $1902796.42   | 0.21%             | 2047-09-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Vineyard Gardens Apartments, Senior Lien Series 2021A              | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Vineyard Gardens Apartments, Senior Lien Series 2021A              | CUSIP: 126292BJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2625000 | PA      | $1705723.43   | 0.19%             | 2058-10-01      | Fixed         | 3.25%                 | Yes           |                  2 | On Loan: No      |
| California Public Finance Authority, Educational Facility Revenue Bonds, Crossroads Christian Schools, Series 2020                                     | California Public Finance Authority, Educational Facility Revenue Bonds, Crossroads Christian Schools, Series 2020                                     | CUSIP: 13057KAH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $3735017.55   | 0.41%             | 2056-01-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010ZZ                                                                               | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010ZZ                                                                               | CUSIP: 74526YBZ7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    165000 | PA      | $67858.27     | 0.01%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023F                                                | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2023F                                                | CUSIP: 13013JDD5<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |  17680000 | PA      | $18801484.83  | 2.05%             | 2054-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, Claremont Graduate University, Refunding Series 2020B                                           | California Municipal Finance Authority, Revenue Bonds, Claremont Graduate University, Refunding Series 2020B                                           | CUSIP: 13048VPX0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $893497.00    | 0.10%             | 2049-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Dublin Community Facilities District 2015-1 Dublin Crossing, California, Special Tax Bonds,  Improvement Area 4, Series 2022                           | Dublin Community Facilities District 2015-1 Dublin Crossing, California, Special Tax Bonds,  Improvement Area 4, Series 2022                           | CUSIP: 26362DBG2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025368.00   | 0.11%             | 2051-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Dixon, California, Special Tax Bonds, Community Facilities District 2019-1 Homestead, Improvement Area 2, Series 2024                                  | Dixon, California, Special Tax Bonds, Community Facilities District 2019-1 Homestead, Improvement Area 2, Series 2024                                  | CUSIP: 255650FZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984489.40    | 0.11%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Menifee, California, Special Tax Bonds, Community Facilities District 2022-1, Quartz Ranch Series 2023A                                                | Menifee, California, Special Tax Bonds, Community Facilities District 2022-1, Quartz Ranch Series 2023A                                                | CUSIP: 58680WDJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $698884.62    | 0.08%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Link-Glendale, Series 2021A-2                                      | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Link-Glendale, Series 2021A-2                                      | CUSIP: 126292AU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5915000 | PA      | $4387261.38   | 0.48%             | 2056-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| San Luis Coastal Unified School District, San Luis Obispo County, California, General Obligation Bonds, Election of 2022 Series 2023A                  | San Luis Coastal Unified School District, San Luis Obispo County, California, General Obligation Bonds, Election of 2022 Series 2023A                  | CUSIP: 798546EF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4543159.00   | 0.50%             | 2053-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Adelanto Community Facilities District Number 2006-2, San Bernadino County, California, Special Tax Bonds, Series 2015A                                | Adelanto Community Facilities District Number 2006-2, San Bernadino County, California, Special Tax Bonds, Series 2015A                                | CUSIP: 006784AB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000032.00   | 0.11%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024D                                                          | California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024D                                                          | CUSIP: 13051AKC1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $963897.60    | 0.11%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Refunding Series 2010DDD                                                                    | Puerto Rico Electric Power Authority, Power Revenue Bonds, Refunding Series 2010DDD                                                                    | CUSIP: 74526YCC7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $411213.19    | 0.04%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2022D                                                          | California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2022D                                                          | CUSIP: 13051AFN3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3152811.00   | 0.34%             | 2052-09-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024C                                                          | California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024C                                                          | CUSIP: 13051AJU3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    545000 | PA      | $549367.41    | 0.06%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rocklin, Placer County, California, Special Tax Bonds, Community Facilities District 10 Whitney Ranch, Series 2015                                     | Rocklin, Placer County, California, Special Tax Bonds, Community Facilities District 10 Whitney Ranch, Series 2015                                     | CUSIP: 773747ES5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $816148.82    | 0.09%             | 2039-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Urban Discovery Academy Project, Series 2024A                                       | California School Finance Authority, Charter School Revenue Bonds, Urban Discovery Academy Project, Series 2024A                                       | CUSIP: 13058TUX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3015019.15   | 0.33%             | 2054-06-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Dublin Community Facilities District 2015-1 Dublin Crossing, California, Special Tax Bonds,  Improvement Area 5, Series 2023                           | Dublin Community Facilities District 2015-1 Dublin Crossing, California, Special Tax Bonds,  Improvement Area 5, Series 2023                           | CUSIP: 26362DBU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1271577.88   | 0.14%             | 2051-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority Charter School Revenue Bonds, Bright Star Schools - Obligated Group, Series 2017                                   | California School Finance Authority Charter School Revenue Bonds, Bright Star Schools - Obligated Group, Series 2017                                   | CUSIP: 13058TGD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    755000 | PA      | $736332.85    | 0.08%             | 2037-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C                                          | Anaheim Public Financing Authority, California, Lease Revenue Bonds, Public Improvement Project, Series 1997C                                          | CUSIP: 03255LBN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $296416.59    | 0.03%             | 2028-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Taxable Series 2010BBB                                                                      | Puerto Rico Electric Power Authority, Power Revenue Bonds, Taxable Series 2010BBB                                                                      | CUSIP: 74526YEW1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $816467.70    | 0.09%             | 2028-07-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010ZZ                                                                               | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010ZZ                                                                               | CUSIP: 74526YCJ2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1695000 | PA      | $707643.43    | 0.08%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Series 1997A                           | San Joaquin Hills Transportation Corridor Agency, Orange County, California, Toll Road Revenue Bonds, Refunding Series 1997A                           | CUSIP: 798111EB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $40587.37     | 0.00%             | 2031-01-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| San Diego Public Facilities Financing Authority, California, Lease Revenue Bonds, Capital Improvement Projects, Series 2021A                           | San Diego Public Facilities Financing Authority, California, Lease Revenue Bonds, Capital Improvement Projects, Series 2021A                           | CUSIP: 797299NX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5750000 | PA      | $5217223.40   | 0.57%             | 2050-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Riverside County Asset Leasing Corporation, California, Leasehold Revenue Bonds, Riverside County Hospital Project, Series 1997                        | Riverside County Asset Leasing Corporation, California, Leasehold Revenue Bonds, Riverside County Hospital Project, Series 1997                        | CUSIP: 768903BL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1295000 | PA      | $1254372.48   | 0.14%             | 2026-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Royal York Estates Projects Series 2020A                                       | California Municipal Finance Authority, Mobile Home Park Revenue Bonds, Royal York Estates Projects Series 2020A                                       | CUSIP: 13049SCV4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2375000 | PA      | $1799879.26   | 0.20%             | 2055-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Menifee Union School District, Riverside County, California, Special Tax Bonds, Community Facilties District 2016-1, Improvement Area B, Series 2022   | Menifee Union School District, Riverside County, California, Special Tax Bonds, Community Facilties District 2016-1, Improvement Area B, Series 2022   | CUSIP: 5868105F6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $914115.60    | 0.10%             | 2052-09-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| California Community Housing Agency, California, Essential Housing Revenue Bonds, Summit at Sausalito Apartments, Series 2021A-2                       | California Community Housing Agency, California, Essential Housing Revenue Bonds, Summit at Sausalito Apartments, Series 2021A-2                       | CUSIP: 13013FBC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9960000 | PA      | $7399748.14   | 0.81%             | 2050-02-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| CMFA Special Finance Agency I, California, Essential Housing Revenue Bonds, The Mix at Center City, Subordinate Series 2021B                           | CMFA Special Finance Agency I, California, Essential Housing Revenue Bonds, The Mix at Center City, Subordinate Series 2021B                           | CUSIP: 12574TAD9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $721820.60    | 0.08%             | 2056-04-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| California Housing Finance Agency, Multifamily Housing Revenue Bonds, Redwood Gardens Apartments, Subordinate Lien Series 2021N-S                      | California Housing Finance Agency, Multifamily Housing Revenue Bonds, Redwood Gardens Apartments, Subordinate Lien Series 2021N-S                      | CUSIP: 13034PE45<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |   1585000 | PA      | $1309871.26   | 0.14%             | 2037-03-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Roseville, California, Special Tax Bonds, Community Facilities District 1 Hewlett Parkard Campus Oaks, Series 2016                                     | Roseville, California, Special Tax Bonds, Community Facilities District 1 Hewlett Parkard Campus Oaks, Series 2016                                     | CUSIP: 777870WF9<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1056940.71   | 0.12%             | 2046-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2013A                                                                                      | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2013A                                                                                      | CUSIP: 74526YFD2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   4430000 | PA      | $1749059.97   | 0.19%             | 2036-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Elsinore Valley Municipal Water District, California, Special Tax Bonds, Community Facilities District 2020-1 Horsethief Improvement Area 2A, Series 2 | Elsinore Valley Municipal Water District, California, Special Tax Bonds, Community Facilities District 2020-1 Horsethief Improvement Area 2A, Series 2 | CUSIP: 290322DQ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1395164.32   | 0.15%             | 2041-09-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Southern California Public Power Authority, Natural Gas Project 1 Revenue Bonds, Series 2007A                                                          | Southern California Public Power Authority, Natural Gas Project 1 Revenue Bonds, Series 2007A                                                          | CUSIP: 842471AX2<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031122.50   | 0.11%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024C                                                          | California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024C                                                          | CUSIP: 13051AJX7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $978540.40    | 0.11%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Elsinore Valley Municipal Water District, California, Special Tax Bonds, Community Facilities District 2020-1 Horsethief Improvement Area 2A, Series 2 | Elsinore Valley Municipal Water District, California, Special Tax Bonds, Community Facilities District 2020-1 Horsethief Improvement Area 2A, Series 2 | CUSIP: 290322DR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2325000 | PA      | $1897388.56   | 0.21%             | 2051-09-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Golden Gate Tobacco Funding Corporation, Turbo, Series 2007A   | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Golden Gate Tobacco Funding Corporation, Turbo, Series 2007A   | CUSIP: 13016NDF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1155000 | PA      | $1040980.94   | 0.11%             | 2047-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Alta Public Schools - Obligated Group, Series 2024                      | California School Finance Authority, California, Charter School Revenue Bonds, Alta Public Schools - Obligated Group, Series 2024                      | CUSIP: 13058TUA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3375000 | PA      | $2989202.40   | 0.33%             | 2064-06-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2016C                    | California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2016C                    | CUSIP: 13059TDE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1987038.20   | 0.22%             | 2046-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Infrastructure Program Revenue Bonds, Series 2020C                                   | California Statewide Communities Development Authority, Statewide Infrastructure Program Revenue Bonds, Series 2020C                                   | CUSIP: 13078YRL1<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   3965000 | PA      | $3634104.49   | 0.40%             | 2040-09-02      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Community High School Foundation Inc, Series 2017                                   | California School Finance Authority, Charter School Revenue Bonds, Community High School Foundation Inc, Series 2017                                   | CUSIP: 13058TSN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $275099.95    | 0.03%             | 2037-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Elsinore Valley Municipal Water District, California, Special Tax Bonds, Community Facilities District 2020-1 Horsethief Area 1A, Series 2021A         | Elsinore Valley Municipal Water District, California, Special Tax Bonds, Community Facilities District 2020-1 Horsethief Area 1A, Series 2021A         | CUSIP: 290322DU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1685000 | PA      | $1502141.78   | 0.16%             | 2041-09-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A                  | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2014A                  | CUSIP: 13080SEX8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |  16700000 | PA      | $16290504.31  | 1.78%             | 2054-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| West Indian Company Limited, Virgin Island, Port Facilities Revenue Bonds, WICO Financing, Series 2022B                                                | West Indian Company Limited, Virgin Islands, Port Facilities Revenue Bonds WICO Financing Series 2022B                                                 | CUSIP: 953352AD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1122653.64   | 0.12%             | 2052-04-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A                                  | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A                                  | CUSIP: 130911A83<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |      7762 | PA      | $7761.51      | 0.00%             | 2025-12-31      | Fixed         | 5.75%                 | No            |                  3 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024A                                                          | California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024A                                                          | CUSIP: 13051AGT9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $988391.70    | 0.11%             | 2054-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Scholarship Prep Public Schools ? Obligated Group, Series 2020B                     | California School Finance Authority, Charter School Revenue Bonds, Scholarship Prep Public Schools ? Obligated Group, Series 2020B                     | CUSIP: 13058TKH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    380000 | PA      | $373763.55    | 0.04%             | 2027-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Rocketship Public Schools ? Obligated Group, Series 2017G                           | California School Finance Authority, Charter School Revenue Bonds, Rocketship Public Schools ? Obligated Group, Series 2017G                           | CUSIP: 13058TGA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $821938.91    | 0.09%             | 2053-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Russell Westbrook Why Not? Academy ? Obligated Group, Series 2021A                  | California School Finance Authority, Charter School Revenue Bonds, Russell Westbrook Why Not? Academy ? Obligated Group, Series 2021A                  | CUSIP: 13058TNZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2200620.00   | 0.24%             | 2051-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Lighthouse Community Public Schools ? Obligated Group, Series 2022A     | California School Finance Authority, California, Charter School Revenue Bonds, Lighthouse Community Public Schools ? Obligated Group, Series 2022A     | CUSIP: 13058TRN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2363839.26   | 0.26%             | 2062-06-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Antelope Valley Healthcare District, California, Revenue Bonds, Series 2016A                                                                           | Antelope Valley Healthcare District, California, Revenue Bonds, Series 2016A                                                                           | CUSIP: 036680BY1<br>LEI: 549300PLE0IY3UJZHY85 | Long             | DBT              | MUN               | US        |   5280000 | PA      | $4923880.90   | 0.54%             | 2041-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority, Charter School Lease Revenue Bonds, California Crosspoint Academy Project, Series 2020A                           | California Public Finance Authority, Charter School Lease Revenue Bonds, California Crosspoint Academy Project, Series 2020A                           | CUSIP: 13057KAF7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1587313.80   | 0.17%             | 2055-07-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2017A                         | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2017A                         | CUSIP: 13078YLC7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    480000 | PA      | $481177.44    | 0.05%             | 2046-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City and County Special Tax District 2020-1, California, Special Tax Bonds, Mission Rock Facilities and Services, Shoreline Tax Zone 1 S | San Francisco City and County Special Tax District 2020-1, California, Special Tax Bonds, Mission Rock Facilities and Services, Shoreline Tax Zone 1 S | CUSIP: 79771JAL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031654.50   | 0.11%             | 2053-09-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Menifee, California, Special Tax Bonds, Community Facilities District 2022-1, Quartz Ranch Series 2023A                                                | Menifee, California, Special Tax Bonds, Community Facilities District 2022-1, Quartz Ranch Series 2023A                                                | CUSIP: 58680WDK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $973312.90    | 0.11%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-11 Improvement Area A Hesperia Silverwood, Serie | California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-11 Improvement Area A Hesperia Silverwood, Serie | CUSIP: 13051AHQ4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    340000 | PA      | $338307.51    | 0.04%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2014A                                 | California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2014A                                 | CUSIP: 13048DAX6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1399975.64   | 0.15%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Union South Bay, Series 2021A-2                                    | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Union South Bay, Series 2021A-2                                    | CUSIP: 126292AP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $1892100.25   | 0.21%             | 2056-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2003-1 Improvement Area 1, Subordinate Series 2 | River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2003-1 Improvement Area 1, Subordinate Series 2 | CUSIP: 76827QHE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1530669.80   | 0.17%             | 2047-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Community Housing Agency, Workforce Housing Revenue Bonds, Annadel Apartments, Series 2019A                                                 | California Community Housing Agency, Workforce Housing Revenue Bonds, Annadel Apartments, Series 2019A                                                 | CUSIP: 13013HAA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  18480000 | PA      | $14970564.84  | 1.63%             | 2049-04-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2                               | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2                               | CUSIP: 74529JRK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2610000 | PA      | $2261693.41   | 0.25%             | 2053-07-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 4, Seri | Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 4, Seri | CUSIP: 344414HS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $985381.40    | 0.11%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northstar Community Services District, California, Special Tax Bonds, Community Facilities District 1, Refunding Series 2005                           | Northstar Community Services District, California, Special Tax Bonds, Community Facilities District 1, Refunding Series 2005                           | CUSIP: 66704PAP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    980480 | PA      | $264729.59    | 0.03%             | 2028-09-01      | Fixed         | 1.91%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, California Baptist University, Series 2016A                                                     | California Municipal Finance Authority, Revenue Bonds, California Baptist University, Series 2016A                                                     | CUSIP: 13048TG23<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1443901.78   | 0.16%             | 2046-11-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Folsom, California, Special Tax Bonds, Community Facilities District 16 Islands at Parkshore Improvement Area 1, Series 2018                           | Folsom, California, Special Tax Bonds, Community Facilities District 16 Islands at Parkshore Improvement Area 1, Series 2018                           | CUSIP: 344402RE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $440385.85    | 0.05%             | 2043-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fontana, California,  Special Tax Bonds, Community Facilities District 106, Mountain View, Series 2022                                                 | Fontana, California,  Special Tax Bonds, Community Facilities District 106, Mountain View, Series 2022                                                 | CUSIP: 344630D47<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $475817.90    | 0.05%             | 2043-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Roseville, California, Special Tax Bonds, Community Facilities District 1 Ranch at Sierra Vista, Public Facilities Series 2023                         | Roseville, California, Special Tax Bonds, Community Facilities District 1 Ranch at Sierra Vista, Public Facilities Series 2023                         | CUSIP: 7778705A0<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007753.30   | 0.11%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 2, Seri | Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 2, Seri | CUSIP: 344414GN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $395798.80    | 0.04%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Monterrey Station Apartments, Series 2021B                         | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Monterrey Station Apartments, Series 2021B                         | CUSIP: 126292BX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1303333.80   | 0.14%             | 2058-07-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, TEACH Public Schools Obligated Group, Series 2016A                      | California School Finance Authority, California, Charter School Revenue Bonds, TEACH Public Schools Obligated Group, Series 2016A                      | CUSIP: 13058TDZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1301690.91   | 0.14%             | 2052-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CMFA Special Finance Agency I, California, Essential Housing Revenue Bonds, The Mix at Center City, Series 2021A-2                                     | CMFA Special Finance Agency I, California, Essential Housing Revenue Bonds, The Mix at Center City, Series 2021A-2                                     | CUSIP: 12574TAB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6885000 | PA      | $4972928.78   | 0.54%             | 2056-04-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 20 Russell Ranch, Series 2020            | Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 20 Russell Ranch, Series 2020            | CUSIP: 344414FZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1308994.05   | 0.14%             | 2052-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 18, Folsom Plan Area-Area-Wide Improveme | Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 18, Folsom Plan Area-Area-Wide Improveme | CUSIP: 344414HB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008013.60   | 0.11%             | 2044-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2022C                         | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2022C                         | CUSIP: 13078YUP8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1495000 | PA      | $1478433.91   | 0.16%             | 2042-09-02      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Oxnard School District, Ventura County, California, General Obligation Bonds, Election of 2022 Series 2023A                                            | Oxnard School District, Ventura County, California, General Obligation Bonds, Election of 2022 Series 2023A                                            | CUSIP: 692020Z78<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4492411.00   | 0.49%             | 2050-08-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Community High School Foundation Inc, Series 2017                                   | California School Finance Authority, Charter School Revenue Bonds, Community High School Foundation Inc, Series 2017                                   | CUSIP: 13058TSP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $275099.95    | 0.03%             | 2047-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Marina Redevelopment Agency Successor Agency, California, Housing Tax Allocation Bonds, Series 2018B                                                   | Marina Redevelopment Agency Successor Agency, California, Housing Tax Allocation Bonds, Series 2018B                                                   | CUSIP: 568061BB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $457132.23    | 0.05%             | 2038-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series2019-1                                                           | California Housing Finance Agency, Municipal Certificate Revenue Bonds, Class A Series2019-1                                                           | CUSIP: 13033DAA3<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |     58158 | PA      | $58430.64     | 0.01%             | 2035-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Social Bonds iLead Lancaster Project, Series 2021A                                  | California School Finance Authority, Charter School Revenue Bonds, Social Bonds iLead Lancaster Project, Series 2021A                                  | CUSIP: 13058TKQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1247409.63   | 0.14%             | 2051-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Alta Public Schools - Obligated Group, Series 2020A                     | California School Finance Authority, California, Charter School Revenue Bonds, Alta Public Schools - Obligated Group, Series 2020A                     | CUSIP: 13058TJG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9925000 | PA      | $8885436.64   | 0.97%             | 2059-06-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| University of Puerto Rico, University System Revenue Bonds, Series 2006Q                                                                               | University of Puerto Rico, University System Revenue Bonds, Series 2006Q                                                                               | CUSIP: 914811PQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    125000 | PA      | $120789.83    | 0.01%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016                            | California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2016                            | CUSIP: 13058TMA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $428691.20    | 0.05%             | 2046-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School finance Authority, School Facility Revenue Bonds,  ICEF - View Park Elementary and Middle Schools, Series 2014A                      | California School finance Authority, School Facility Revenue Bonds,  ICEF - View Park Elementary and Middle Schools, Series 2014A                      | CUSIP: 13059TBD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $574966.19    | 0.06%             | 2034-10-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Refunding Series 2015R-1             | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Refunding Series 2015R-1             | CUSIP: 13080SHQ0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   3510000 | PA      | $3517609.68   | 0.38%             | 2035-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2015A                    | California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2015A                    | CUSIP: 13059TBU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $994361.00    | 0.11%             | 2045-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Bond Anticipation Notes, Series 2024A                                         | Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Bond Anticipation Notes, Series 2024A                                         | CUSIP: 927688GX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2190000 | PA      | $2183431.75   | 0.24%             | 2026-07-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| Oroville, California, Revenue Bonds, Oroville Hospital Series 2019                                                                                     | Oroville, California, Revenue Bonds, Oroville Hospital Series 2019                                                                                     | CUSIP: 687241AM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6100000 | PA      | $4638455.25   | 0.51%             | 2054-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Val Verde Unified School District, California, Special Tax Bonds, Community Facilities District 2018-2, Stratford Improvement Area 2 Series 2023       | Val Verde Unified School District, California, Special Tax Bonds, Community Facilities District 2018-2, Stratford Improvement Area 2 Series 2023       | CUSIP: 91882PGS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990491.70    | 0.11%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2013A                                                                                      | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2013A                                                                                      | CUSIP: 74526YDG7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   5385000 | PA      | $2320653.42   | 0.25%             | 2042-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-11 Improvement Area A Hesperia Silverwood, Serie | California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-11 Improvement Area A Hesperia Silverwood, Serie | CUSIP: 13051AHR2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    800000 | PA      | $773440.16    | 0.08%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dublin Community Facilities District 2015-1 Dublin Crossing, California, Special Tax Bonds,  Improvement Area 4, Series 2022                           | Dublin Community Facilities District 2015-1 Dublin Crossing, California, Special Tax Bonds,  Improvement Area 4, Series 2022                           | CUSIP: 26362DBF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1033906.70   | 0.11%             | 2047-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024C                                                          | California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024C                                                          | CUSIP: 13051AJV1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    885000 | PA      | $884286.87    | 0.10%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority Revenue Bonds, California Baptist University, Refunding Series 2017A                            | California Statewide Communities Development Authority Revenue Bonds, California Baptist University, Refunding Series 2017A                            | CUSIP: 13080SSJ4<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   4325000 | PA      | $4138880.11   | 0.45%             | 2041-11-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Ontario, California, Special Tax Bonds, Community Facilities District 28 New Haven Facilities - Area A, Series 2017                                    | Ontario, California, Special Tax Bonds, Community Facilities District 28 New Haven Facilities - Area A, Series 2017                                    | CUSIP: 68302TBF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1201766.16   | 0.13%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2022A-1                             | Golden State Tobacco Securitization Corporation, California, Tobacco Settlement Asset-Backed Revenue Bonds, Series 2022A-1                             | CUSIP: 38122ND90<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4040000 | PA      | $3953696.71   | 0.43%             | 2051-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Revenue Bonds, Lancer Educational Student Housing Project, Refunding Series 2016A              | California Statewide Communities Development Authority, Revenue Bonds, Lancer Educational Student Housing Project, Refunding Series 2016A              | CUSIP: 13080SNM2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4607759.28   | 0.50%             | 2036-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Lammersville Joint Unified School District, San Joaquin County, California, Special Tax Bonds, Community Facilities District 2014-1 Improvement Area 1 | Lammersville Joint Unified School District, San Joaquin County, California, Special Tax Bonds, Community Facilities District 2014-1 Improvement Area 1 | CUSIP: 513533DK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $599999.16    | 0.07%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denair Unified School District, Stanislaus County, California, General Obligation Bonds, Series 2002A                                                  | Denair Unified School District, Stanislaus County, California, General Obligation Bonds, Series 2002A                                                  | CUSIP: 248217CN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1071635.09   | 0.12%             | 2026-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024C                                                          | California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024C                                                          | CUSIP: 13051AJW9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    540000 | PA      | $488199.69    | 0.05%             | 2054-09-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1                                                                                     | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1                                                                                     | CUSIP: 74514L3P0<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   8890000 | PA      | $7311900.54   | 0.80%             | 2046-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Guam Port Authority, Port Revenue Bonds, Private Activity Series 2018B                                                                                 | Guam Port Authority, Port Revenue Bonds, Private Activity Series 2018B                                                                                 | CUSIP: 400652AN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $253225.80    | 0.03%             | 2036-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, School Facility Revenue Bonds, Green Dot Public Schools California Projects, Series 2022A                         | California School Finance Authority, School Facility Revenue Bonds, Green Dot Public Schools California Projects, Series 2022A                         | CUSIP: 13059THG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1226548.32   | 0.13%             | 2042-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2008WW                                                                                     | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2008WW                                                                                     | CUSIP: 74526YEJ0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    915000 | PA      | $372643.20    | 0.04%             | 2026-01-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities District 2015-1 Arambel-KDN, Refunding Series 2015             | West Patterson Financing Authority, California, Special Tax Bonds, Community Facilities District 2015-1 Arambel-KDN, Refunding Series 2015             | CUSIP: 955232EV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $351032.08    | 0.04%             | 2035-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Southern California Public Power Authority, Natural Gas Project 1 Revenue Bonds, Series 2007A                                                          | Southern California Public Power Authority, Natural Gas Project 1 Revenue Bonds, Series 2007A                                                          | CUSIP: 842471AY0<br>LEI: 5493003B5TD5FWUKMD34 | Long             | DBT              | MUN               | US        |    220000 | PA      | $230677.00    | 0.03%             | 2033-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fairfield, California, Special Tax Bonds, Community Facilities District 2007-1 Fairfield Commons Project, Series 2008                                  | Fairfield, California, Special Tax Bonds, Community Facilities District 2007-1 Fairfield Commons Project, Series 2008                                  | CUSIP: 304194AP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    430000 | PA      | $432815.30    | 0.05%             | 2038-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Alameda County Tobacco Asset Securitization Corporation, Subor | California County Tobacco Securitization Agency, Tobacco Settlement Asset-Backed Bonds, Alameda County Tobacco Asset Securitization Corporation, Subor | CUSIP: 13016NCH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  27000000 | PA      | $5924353.50   | 0.65%             | 2050-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. - Lincoln Project, Taxable Series 2019B               | California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. - Lincoln Project, Taxable Series 2019B               | CUSIP: 13048DCW6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |     90000 | PA      | $86226.80     | 0.01%             | 2039-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Educational Facility Revenue Bonds, River Springs Charter School Project, Series 2017A                            | California School Finance Authority, Educational Facility Revenue Bonds, River Springs Charter School Project, Series 2017A                            | CUSIP: 130591BB5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1725000 | PA      | $1647562.68   | 0.18%             | 2047-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Washington Township Health Care District, Alameda County, California, General Obligation Bonds, 2012 Election Series 2015B                             | Washington Township Health Care District, Alameda County, California, General Obligation Bonds, 2012 Election Series 2015B                             | CUSIP: 940642DH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  12460000 | PA      | $11110296.67  | 1.21%             | 2045-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California State University, Systemwide Revenue Bonds, Series 2024A                                                                                    | California State University, Systemwide Revenue Bonds, Series 2024A                                                                                    | CUSIP: 13077DUR1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9000000 | PA      | $7875440.10   | 0.86%             | 2049-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority, University Housing Revenue Bonds, National Campus Community Development - Claremont Properties LLC Claremont Coll | California Public Finance Authority, University Housing Revenue Bonds, National Campus Community Development - Claremont Properties LLC Claremont Coll | CUSIP: 13051CAC8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1367124.77   | 0.15%             | 2050-07-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Rancho Cordova, California, Special Tax Bonds, Community Facilities District 2022-1 Arista Del Sol, Improvement Area 1 Series 2023                     | Rancho Cordova, California, Special Tax Bonds, Community Facilities District 2022-1 Arista Del Sol, Improvement Area 1 Series 2023                     | CUSIP: 75211RQS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $534543.40    | 0.06%             | 2043-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Vibrant Minds Charter School Project, Series 2025                                   | California School Finance Authority, Charter School Revenue Bonds, Vibrant Minds Charter School Project, Series 2025                                   | CUSIP: 13058TVK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2005126.20   | 0.22%             | 2055-04-15      | Fixed         | 7.00%                 | Yes           |                  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: 745160TG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      5000 | PA      | $5058.74      | 0.00%             | 2037-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Educational Facilities Revenue Bonds, New Designs Charter School Adams Campus Project, Series 2024A               | California School Finance Authority, Educational Facilities Revenue Bonds, New Designs Charter School Adams Campus Project, Series 2024A               | CUSIP: 130591BN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $595074.74    | 0.06%             | 2054-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2013A                                                                                      | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2013A                                                                                      | CUSIP: 74526YFH3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    220000 | PA      | $85729.55     | 0.01%             | 2030-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, School Facility Revenue Bonds, Granada Hills Charter High School Obligated Group, Series 2019                     | California School Finance Authority, School Facility Revenue Bonds, Granada Hills Charter High School Obligated Group, Series 2019                     | CUSIP: 13059TGL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1143080.76   | 0.12%             | 2054-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| West County Facilities Financing Authority, California, Wastewater Revenue Bonds, Green Series 2021                                                    | West County Facilities Financing Authority, California, Wastewater Revenue Bonds, Green Series 2021                                                    | CUSIP: 95236EAU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5020000 | PA      | $4627352.17   | 0.50%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2023A                                  | Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2023A                                  | CUSIP: 87972YHA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1748589.85   | 0.19%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Roseville, California, Special Tax Bonds, Community Facilities District 1 Villages at Sierra Vista, Series 2022                                        | Roseville, California, Special Tax Bonds, Community Facilities District 1 Villages at Sierra Vista, Series 2022                                        | CUSIP: 7778703J3<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    625000 | PA      | $561705.19    | 0.06%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CMFA Special Financing Agency VIII, California, Essential Housing Revenue Bonds, Elan Huntington Beach, Senior Lien Series 2021A-1                     | CMFA Special Financing Agency VIII, California, Essential Housing Revenue Bonds, Elan Huntington Beach, Senior Lien Series 2021A-1                     | CUSIP: 12574VAA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $643978.40    | 0.07%             | 2056-08-01      | Fixed         | 3.00%                 | Yes           |                  2 | On Loan: No      |
| Beaumont, California, Special Tax Bonds, Community Facilities District 2016-1 Fairway Canyon, Series 2019                                              | Beaumont, California, Special Tax Bonds, Community Facilities District 2016-1 Fairway Canyon, Series 2019                                              | CUSIP: 074434AY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $399677.68    | 0.04%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010AAA                                                                                    | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010AAA                                                                                    | CUSIP: 74526YFV2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    500000 | PA      | $203504.53    | 0.02%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2                               | Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Bonds, Taxable Restructured Cofina Project Series 2019A-2                               | CUSIP: 74529JRL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2670000 | PA      | $2393674.49   | 0.26%             | 2058-07-01      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| Brea Redevelopment Agency, Orange County, California, Tax Allocation Bonds, Project Area AB, Series 2003                                               | Brea Redevelopment Agency, Orange County, California, Tax Allocation Bonds, Project Area AB, Series 2003                                               | CUSIP: 106287JD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1350526.20   | 0.15%             | 2028-08-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Educational Facility Revenue Bonds, River Springs Charter School Project, Series 2023A                            | California School Finance Authority, Educational Facility Revenue Bonds, River Springs Charter School Project, Series 2023A                            | CUSIP: 130591BJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1260990.83   | 0.14%             | 2042-07-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| Roseville, California, Special Tax Bonds, Community Facilities District 1 Creekview Improvement Area 2, Series 2023                                    | Roseville, California, Special Tax Bonds, Community Facilities District 1 Creekview Improvement Area 2, Series 2023                                    | CUSIP: 7778705G7<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1514237.85   | 0.17%             | 2053-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017                                   | Temecula Public Financing Authority, California, Special Tax Bonds, Community Facilities District 16-01, Series 2017                                   | CUSIP: 87972YGA8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1071529.10   | 0.12%             | 2047-09-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Educational Facilities Revenue Bonds, New Designs Charter School Adams Campus Project, Series 2024A               | California School Finance Authority, Educational Facilities Revenue Bonds, New Designs Charter School Adams Campus Project, Series 2024A               | CUSIP: 130591BP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1513727.77   | 0.17%             | 2064-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Hemet Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2021-7, Series 2023                      | Hemet Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2021-7, Series 2023                      | CUSIP: 423540HF3<br>LEI: 54930041KL801EWMW566 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1005729.20   | 0.11%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2007-1 Orinda Wilder Project, Refunding Serie | California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2007-1 Orinda Wilder Project, Refunding Serie | CUSIP: 13077EEL0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    330000 | PA      | $330538.49    | 0.04%             | 2037-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pittsburg Unified School District, Contra Costa County, California, General Obligation Bonds, Refunding Series 2016                                    | Pittsburg Unified School District, Contra Costa County, California, General Obligation Bonds, Refunding Series 2016                                    | CUSIP: 724581SN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9470000 | PA      | $8762872.26   | 0.96%             | 2044-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Lease Revenue Bonds, Santa Rosa Academy Project, Series 2015                                    | California Municipal Finance Authority, Charter School Lease Revenue Bonds, Santa Rosa Academy Project, Series 2015                                    | CUSIP: 130486AS2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    400000 | PA      | $399990.84    | 0.04%             | 2035-07-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Antelope Valley Healthcare District, California, Revenue Bonds, Series 2016A                                                                           | Antelope Valley Healthcare District, California, Revenue Bonds, Series 2016A                                                                           | CUSIP: 036680BX3<br>LEI: 549300PLE0IY3UJZHY85 | Long             | DBT              | MUN               | US        |   6180000 | PA      | $6189024.65   | 0.68%             | 2036-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority Charter School Revenue Bonds, Fenton Schools - Obligated Group, Series 2020A                                       | California School Finance Authority Charter School Revenue Bonds, Fenton Schools - Obligated Group, Series 2020A                                       | CUSIP: 13058TJK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    960000 | PA      | $934485.12    | 0.10%             | 2040-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Rancho Cordova, California, Special Tax Bonds, Communities Facilities District 2014-1 Montelena, Series 2022                                           | Rancho Cordova, California, Special Tax Bonds, Communities Facilities District 2014-1 Montelena, Series 2022                                           | CUSIP: 75211RPQ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1590000 | PA      | $1608368.79   | 0.18%             | 2042-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2003-1 Improvement Area 1, Subordinate Series 2 | River Islands Public Financing Authority, California, Special Tax Bonds, Community Facilities District 2003-1 Improvement Area 1, Subordinate Series 2 | CUSIP: 76827QHF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2015000 | PA      | $1906376.39   | 0.21%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010CCC                                                                                    | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010CCC                                                                                    | CUSIP: 74526YCM5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    135000 | PA      | $55520.40     | 0.01%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City and County Infrastructure and Revitalization Financing District 1 Treasure Island, California, Tax Increment Revenue Bonds, Facilit | San Francisco City and County Infrastructure and Revitalization Financing District 1 Treasure Island, California, Tax Increment Revenue Bonds, Facilit | CUSIP: 79773NAJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1525000 | PA      | $1461583.18   | 0.16%             | 2053-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Lathrop, California, Special Tax Bonds, Community Facilities District 2018-1 Central Lathrop Specific Plan Improvement Areas 5, Series 2019            | Lathrop, California, Special Tax Bonds, Community Facilities District 2018-1 Central Lathrop Specific Plan Improvement Areas 5, Series 2019            | CUSIP: 51825PDJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    595000 | PA      | $599896.61    | 0.07%             | 2038-09-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2022-07, Improvement Area Number 1, Watson Ra | California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2022-07, Improvement Area Number 1, Watson Ra | CUSIP: 13077ENH9<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1635000 | PA      | $1622551.60   | 0.18%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Roseville, California, Special Tax Bonds, Community Facilities District 5 Fiddyment Ranch Public Facilities, Series 2017                               | Roseville, California, Special Tax Bonds, Community Facilities District 5 Fiddyment Ranch Public Facilities, Series 2017                               | CUSIP: 777870YC4<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503156.00   | 0.16%             | 2047-09-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| San Francisco City and County, California, Special Tax Bonds, Community Facilities District 2016-1 Treasure Island Improvement Area 2, Series 2023A    | San Francisco City and County, California, Special Tax Bonds, Community Facilities District 2016-1 Treasure Island Improvement Area 2, Series 2023A    | CUSIP: 79773LAJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2090590.82   | 0.23%             | 2053-09-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, CIty Charter School Obligated Group, Series 2016A                                   | California School Finance Authority, Charter School Revenue Bonds, CIty Charter School Obligated Group, Series 2016A                                   | CUSIP: 13058TDU1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5045000 | PA      | $4667533.10   | 0.51%             | 2042-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Refunding Series 2024B                                                        | Virgin Islands Water and Power Authority, Electric System Revenue Bonds, Refunding Series 2024B                                                        | CUSIP: 927688GY1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $149951.37    | 0.02%             | 2026-07-01      | Fixed         | 10.25%                | Yes           |                  2 | On Loan: No      |
| Santa Ana Unified School District, Orange County, California, General Obligation Bonds, 2018 Election Series 2022C                                     | Santa Ana Unified School District, Orange County, California, General Obligation Bonds, 2018 Election Series 2022C                                     | CUSIP: 801155D25<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  17585000 | PA      | $16748008.51  | 1.83%             | 2050-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, School Facility Revenue Bonds, Value Schools, Refunding Series 2023A                                              | California School Finance Authority, School Facility Revenue Bonds, Value Schools, Refunding Series 2023A                                              | CUSIP: 13059THM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $719111.84    | 0.08%             | 2048-07-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority Charter School Revenue Bonds, John Adams Academy Obligated Group, Series 2022A                                     | California School Finance Authority Charter School Revenue Bonds, John Adams Academy Obligated Group, Series 2022A                                     | CUSIP: 13058TQG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8125000 | PA      | $7221409.81   | 0.79%             | 2062-07-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1                                                                                     | Puerto Rico, General Obligation Bonds, Restructured Series 2022A-1                                                                                     | CUSIP: 74514L3R6<br>LEI: 549300X44HXPLJU48U63 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1355626.60   | 0.15%             | 2033-07-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Temecula Valley Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2011-1, Series 2014            | Temecula Valley Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2011-1, Series 2014            | CUSIP: 87970HLR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $355881.32    | 0.04%             | 2044-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 2, Seri | Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 2, Seri | CUSIP: 344414GP6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $449726.68    | 0.05%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010AAA                                                                              | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010AAA                                                                              | CUSIP: 74526YDW2<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $1219569.81   | 0.13%             | 2027-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2015A                           | California School Finance Authority, California, Charter School Revenue Bonds, Aspire Public Schools, Refunding Series 2015A                           | CUSIP: 13058TCJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1007035.12   | 0.11%             | 2040-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Envision Education, Series 2024A                                                    | California School Finance Authority, Charter School Revenue Bonds, Envision Education, Series 2024A                                                    | CUSIP: 13058TTS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1890000 | PA      | $1625606.96   | 0.18%             | 2064-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010AAA                                                                              | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010AAA                                                                              | CUSIP: 74526YEC5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1020000 | PA      | $417541.72    | 0.05%             | 2031-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| West Sacramento, California, Special Tax Bonds, Community Facilities District 27 Bridge District, Refunding Series 2016                                | West Sacramento, California, Special Tax Bonds, Community Facilities District 27 Bridge District, Refunding Series 2016                                | CUSIP: 955656QD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2805000 | PA      | $2814329.15   | 0.31%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Imperial, California, Special Tax Bonds, Community Facilities District 2005-1 Springfield, Series 2015A                                                | Imperial, California, Special Tax Bonds, Community Facilities District 2005-1 Springfield, Series 2015A                                                | CUSIP: 452676HF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1031975.54   | 0.11%             | 2036-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A                  | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A                  | CUSIP: 13080SMJ0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2055000 | PA      | $1987399.54   | 0.22%             | 2041-12-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Brentwood Infrastructure Financing Authority, California, Infrastructure Revenue Bonds, Refunding Subordinated Series 2014B                            | Brentwood Infrastructure Financing Authority, California, Infrastructure Revenue Bonds, Refunding Subordinated Series 2014B                            | CUSIP: 10727XUX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1700386.58   | 0.19%             | 2036-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Refunding Series 2010DDD                                                                    | Puerto Rico Electric Power Authority, Power Revenue Bonds, Refunding Series 2010DDD                                                                    | CUSIP: 74526YAP0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1030000 | PA      | $444046.98    | 0.05%             | 2026-01-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-5 Sacramento County-The GAP Improvement Area 1,  | California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-5 Sacramento County-The GAP Improvement Area 1,  | CUSIP: 13051AKH0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2665000 | PA      | $2568787.10   | 0.28%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pico Rivera Water Authority, California, Revenue Bonds, Refunding Water System Project, Series 1999A                                                   | Pico Rivera Water Authority, California, Revenue Bonds, Refunding Water System Project, Series 1999A                                                   | CUSIP: 719889AS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    295000 | PA      | $307752.91    | 0.03%             | 2029-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Roseville, California, Special Tax Bonds, Community Facilities District 1 Ranch at Sierra Vista, Public Facilities Series 2023                         | Roseville, California, Special Tax Bonds, Community Facilities District 1 Ranch at Sierra Vista, Public Facilities Series 2023                         | CUSIP: 7778705C6<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1134429.00   | 0.12%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Aspire Public School - Obligated Group,Issue No.6, Series 2020A                     | California School Finance Authority, Charter School Revenue Bonds, Aspire Public School - Obligated Group,Issue No.6, Series 2020A                     | CUSIP: 13058TPW4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5315000 | PA      | $4797132.98   | 0.52%             | 2061-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Community Housing Agency, California, Essential Housing Revenue Bonds, Creekwood, Series 2021A                                              | California Community Housing Agency, California, Essential Housing Revenue Bonds, Creekwood, Series 2021A                                              | CUSIP: 13013FAJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4330000 | PA      | $2686435.05   | 0.29%             | 2056-02-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| San Francisco City and County Redevelopment Agency Successor Agency, California, Special Tax Bonds, Community Facilities District 7, Hunters Point Shi | San Francisco City and County Redevelopment Agency Successor Agency, California, Special Tax Bonds, Community Facilities District 7, Hunters Point Shi | CUSIP: 79772ACS4<br>LEI: 5493001TPOZL3UK8DX25 | Long             | DBT              | MUN               | US        |    795000 | PA      | $795404.42    | 0.09%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Enterprise Development Authority, Charter School Revenue Bonds, Norton Science and Language Academy Project, Series 2020                    | California Enterprise Development Authority, Charter School Revenue Bonds, Norton Science and Language Academy Project, Series 2020                    | CUSIP: 13069AAG3<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |   4140000 | PA      | $4207578.05   | 0.46%             | 2058-07-01      | Fixed         | 6.25%                 | Yes           |                  2 | On Loan: No      |
| La Verne, California, Mobile Home Park Revenue Bonds, Copacabana Mobile Home Park, Refunding Series 2014                                               | La Verne, California, Mobile Home Park Revenue Bonds, Copacabana Mobile Home Park, Refunding Series 2014                                               | CUSIP: 505205BP8<br>LEI: 54930008TF3OJRBUIJ91 | Long             | DBT              | MUN               | US        |    315000 | PA      | $314995.37    | 0.03%             | 2049-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority Charter School Revenue Bonds, River Charter Schools Project, Series 2018A                                       | California Municipal Finance Authority Charter School Revenue Bonds, River Charter Schools Project, Series 2018A                                       | CUSIP: 13048DCE6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    700000 | PA      | $700379.89    | 0.08%             | 2038-06-01      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| San Francisco City and County, California, Special Tax Bonds, Community Facilities District 2014-1 Transbay Transit Center, Green Series 2022A         | San Francisco City and County, California, Special Tax Bonds, Community Facilities District 2014-1 Transbay Transit Center, Green Series 2022A         | CUSIP: 79772EFM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1794922.04   | 0.20%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, Catalyst Impact Fund 1 LLC Series 2024-II                                                       | California Municipal Finance Authority, Revenue Bonds, Catalyst Impact Fund 1 LLC Series 2024-II                                                       | CUSIP: 13048VQ35<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2980000 | PA      | $3031039.65   | 0.33%             | 2039-01-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority Charter School Revenue Bonds, John Adams Academy Obligated Group, Series 2022A                                     | California School Finance Authority Charter School Revenue Bonds, John Adams Academy Obligated Group, Series 2022A                                     | CUSIP: 13058TQF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3175000 | PA      | $2846060.16   | 0.31%             | 2052-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Lincoln, California, Special Tax Bonds, Community Facilities District 2005-1 Sorrento Project, Series 2014A                                            | Lincoln, California, Special Tax Bonds, Community Facilities District 2005-1 Sorrento Project, Series 2014A                                            | CUSIP: 533042HD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1815000 | PA      | $1815033.21   | 0.20%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Ivy Academia, Series 2021A                                                          | California School Finance Authority, Charter School Revenue Bonds, Ivy Academia, Series 2021A                                                          | CUSIP: 13058TNQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $637103.10    | 0.07%             | 2061-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Fontana, California, Special Tax Bonds, Community Facilities District 112 The Gardens Phase One, Series 2024                                           | Fontana, California, Special Tax Bonds, Community Facilities District 112 The Gardens Phase One, Series 2024                                           | CUSIP: 344630P77<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2993402.40   | 0.33%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rancho Cordova, California, Special Tax Bonds, Community Facilities District 2022-1 Arista Del Sol, Improvement Area 1 Series 2023                     | Rancho Cordova, California, Special Tax Bonds, Community Facilities District 2022-1 Arista Del Sol, Improvement Area 1 Series 2023                     | CUSIP: 75211RQT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1322083.49   | 0.14%             | 2053-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2020-6, County of Placer-PV400, Series 2022           | California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2020-6, County of Placer-PV400, Series 2022           | CUSIP: 13051AEH7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2160000 | PA      | $2169030.96   | 0.24%             | 2052-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Redwood City Redevelopment Agency, California, Tax Allocation Bonds, Project Area 2, Series 2003A                                                      | Redwood City Redevelopment Agency, California, Tax Allocation Bonds, Project Area 2, Series 2003A                                                      | CUSIP: 757887BM5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1755000 | PA      | $1514901.96   | 0.17%             | 2029-07-15      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Fontana, California, Special Tax Bonds, Community Facilities District 112 The Gardens Phase One, Series 2024                                           | Fontana, California, Special Tax Bonds, Community Facilities District 112 The Gardens Phase One, Series 2024                                           | CUSIP: 344630P85<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2620000 | PA      | $2583280.70   | 0.28%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2021A                               | Foothill/Eastern Transportation Corridor Agency, California, Toll Road Revenue Bonds, Refunding Senior Lien Series 2021A                               | CUSIP: 345105JH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10845000 | PA      | $10204422.72  | 1.11%             | 2046-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2021B-1                                              | California Community Choice Financing Authority, Clean Energy Project Revenue Bonds, Green Series 2021B-1                                              | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |  27110000 | PA      | $26804416.08  | 2.92%             | 2052-02-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Orange County Educational Arts Academy Project, Series 2023A                        | California School Finance Authority, Charter School Revenue Bonds, Orange County Educational Arts Academy Project, Series 2023A                        | CUSIP: 13058TSA9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    560000 | PA      | $555700.26    | 0.06%             | 2043-06-01      | Fixed         | 5.62%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Educational Facilities Revenue Bonds, New Designs Charter School Adams Campus Project, Series 2019A               | California School Finance Authority, Educational Facilities Revenue Bonds, New Designs Charter School Adams Campus Project, Series 2019A               | CUSIP: 130591BF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $744799.05    | 0.08%             | 2040-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Compton Public Finance Authority, California, Lease Revenue Bonds, Refunding & Various Capital Projects, Series 2008                                   | Compton Public Finance Authority, California, Lease Revenue Bonds, Refunding & Various Capital Projects, Series 2008                                   | CUSIP: 204726AN3<br>LEI: 549300WUETJKEL0LJQ58 | Long             | DBT              | MUN               | US        |    210000 | PA      | $210047.84    | 0.02%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palomar Pomerado Health System, California, Revenue Bonds, Refunding Series 2016                                                                       | Palomar Pomerado Health System, California, Revenue Bonds, Refunding Series 2016                                                                       | CUSIP: 697528AR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2245000 | PA      | $1951362.08   | 0.21%             | 2036-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE STREET BANK AND TRUST COMPANY                                                                                                                    | Fixed Income Clearing Corp (FICC)                                                                                                                      | CUSIP: 85748R009<br>LEI: N/A                  | Long             | RA               | CORP              | US        |  21975000 | PA      | $21975000.00  | 2.40%             |  |  |  | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010CCC                                                                                    | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010CCC                                                                                    | CUSIP: 74526YBK0<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    200000 | PA      | $85799.23     | 0.01%             | 2027-07-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, Simpson University, Series 2020A                                                                | California Municipal Finance Authority, Revenue Bonds, Simpson University, Series 2020A                                                                | CUSIP: 13048VUK2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $6793782.10   | 0.74%             | 2050-10-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Riverside Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 40, Series 2025A                     | Riverside Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 40, Series 2025A                     | CUSIP: 769069Z57<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1491447.75   | 0.16%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Scholarship Prep Public Schools ? Obligated Group, Series 2023A                     | California School Finance Authority, Charter School Revenue Bonds, Scholarship Prep Public Schools ? Obligated Group, Series 2023A                     | CUSIP: 13058TTH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1435000 | PA      | $1380441.44   | 0.15%             | 2063-06-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Girls Athletic Leadership School Los Angeles Project, Series 2021A      | California School Finance Authority, California, Charter School Revenue Bonds, Girls Athletic Leadership School Los Angeles Project, Series 2021A      | CUSIP: 13058TML1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $793327.70    | 0.09%             | 2041-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, Claremont Graduate University, Refunding Series 2020B                                           | California Municipal Finance Authority, Revenue Bonds, Claremont Graduate University, Refunding Series 2020B                                           | CUSIP: 13048VPY8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $874348.60    | 0.10%             | 2054-10-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2020-02 Improvement Area 4 Atwell, Series 202 | California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2020-02 Improvement Area 4 Atwell, Series 202 | CUSIP: 13077ERX0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2354517.84   | 0.26%             | 2055-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Joaquin Valley Clean Energy Authority, California, Clean Energy Project Revenue Bonds, Green Series 2025A                                          | San Joaquin Valley Clean Energy Authority, California, Clean Energy Project Revenue Bonds, Green Series 2025A                                          | CUSIP: 79811YAK4<br>LEI: 254900VA5DFN33OVGH87 | Long             | DBT              | MUN               | US        |  11135000 | PA      | $12072774.11  | 1.32%             | 2056-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2008WW                                                                                     | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2008WW                                                                                     | CUSIP: 74526YEU5<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    295000 | PA      | $119726.84    | 0.01%             | 2038-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010XX                                                                                     | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2010XX                                                                                     | CUSIP: 74526YEF8<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $415603.42    | 0.05%             | 2035-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fontana, California,  Special Tax Bonds, Community Facilities District 106, Mountain View, Series 2022                                                 | Fontana, California,  Special Tax Bonds, Community Facilities District 106, Mountain View, Series 2022                                                 | CUSIP: 344630D39<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $364315.73    | 0.04%             | 2038-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-5, Improvement Area 1 Series 2023                | California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-5, Improvement Area 1 Series 2023                | CUSIP: 13051AGH5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1060000 | PA      | $1094085.57   | 0.12%             | 2053-09-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Sabal Palm Community Development District, Florida, Special Assessment Bonds, Series 2016                                                              | Sabal Palm Community Development District, Florida, Special Assessment Bonds, Series 2016                                                              | CUSIP: 78515MAE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $230466.69    | 0.03%             | 2046-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024D                                                          | California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024D                                                          | CUSIP: 13051AKB3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990874.20    | 0.11%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HTA CL 6 TR CTFS CL L-2028 UNITS                                                                                                                       | Puerto Rico Highway and Transportation Authority Highway Revenue Bonds Series 2022                                                                     | CUSIP: 40440SAB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375174 | PA      | $375259.73    | 0.04%             | 2038-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Palmdale Housing Authority, California, Multifamily Housing Revenue Bonds, Impression, La Quinta, Park Vista & Summerwood Apartments, Series 2015      | Palmdale Housing Authority, California, Multifamily Housing Revenue Bonds, Impression, La Quinta, Park Vista & Summerwood Apartments, Series 2015      | CUSIP: 69672EAE1<br>LEI: 54930056NORS0PXLF808 | Long             | DBT              | MUN               | US        |   2110000 | PA      | $1932895.67   | 0.21%             | 2045-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority, Revenue Bonds, Cedars-Sinai Health System, Series 2021A                                              | California Health Facilities Financing Authority, Revenue Bonds, Cedars-Sinai Health System, Series 2021A                                              | CUSIP: 13032UB23<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   4740000 | PA      | $4252937.03   | 0.46%             | 2048-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Beaumont, California, Special Tax Bonds, Community Facilities District 93-1 Improvement Area 17D, Series 2024                                          | Beaumont, California, Special Tax Bonds, Community Facilities District 93-1 Improvement Area 17D, Series 2024                                          | CUSIP: 074433HS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $887377.30    | 0.10%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Public Finance Authority, Charter School Lease Revenue Bonds, Multicultural Learning Center Project, Series 2017A                           | California Public Finance Authority, Charter School Lease Revenue Bonds, Multicultural Learning Center Project, Series 2017A                           | CUSIP: 13057HAC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $701860.88    | 0.08%             | 2047-06-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| California Community College Financing Authority, Lease Revenue Bonds, Refunding Series 2003                                                           | California Community College Financing Authority, Lease Revenue Bonds, Refunding Series 2003                                                           | CUSIP: 13012EPB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3605000 | PA      | $2569353.08   | 0.28%             | 2033-06-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Beaumont Unified School District, California, Special Tax Bonds, Community Facilities District 2020-1, Improvement Area 2 Series 2023                  | Beaumont Unified School District, California, Special Tax Bonds, Community Facilities District 2020-1, Improvement Area 2 Series 2023                  | CUSIP: 074447AW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    660000 | PA      | $663091.57    | 0.07%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Roseville, California, Special Tax Bonds, Community Facilities District 1 Creekview Improvement Area 2, Series 2023                                    | Roseville, California, Special Tax Bonds, Community Facilities District 1 Creekview Improvement Area 2, Series 2023                                    | CUSIP: 7778705F9<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |    480000 | PA      | $483341.47    | 0.05%             | 2043-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2021-02 Citro, Series 2023                    | California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2021-02 Citro, Series 2023                    | CUSIP: 13077EPS3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1972920.00   | 0.22%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Menifee Union School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2006-1, Series 2014                      | Menifee Union School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2006-1, Series 2014                      | CUSIP: 586810VH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $453945.20    | 0.05%             | 2044-09-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2003NN                                                                               | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2003NN                                                                               | CUSIP: 74526YEY7<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |     85000 | PA      | $34440.54     | 0.00%             | 2026-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Educational Facility Revenue Bonds, River Springs Charter School Project, Series 2017A                            | California School Finance Authority, Educational Facility Revenue Bonds, River Springs Charter School Project, Series 2017A                            | CUSIP: 130591BC3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1340000 | PA      | $1247987.29   | 0.14%             | 2052-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Hayward Twin Oaks Montessori Charter School Project, Series 2024A       | California School Finance Authority, California, Charter School Revenue Bonds, Hayward Twin Oaks Montessori Charter School Project, Series 2024A       | CUSIP: 13058TUR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4519113.00   | 0.49%             | 2064-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A                                                        | Long Beach Bond Finance Authority, California, Natural Gas Purchase Revenue Bonds, Series 2007A                                                        | CUSIP: 54241AAU7<br>LEI: 549300BKBZ5U7OZH3S21 | Long             | DBT              | MUN               | US        |     25000 | PA      | $26322.12     | 0.00%             | 2028-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A                                                         | California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A                                                         | CUSIP: 13048TP31<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   8200000 | PA      | $7245448.66   | 0.79%             | 2047-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 4, Seri | Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 23 Folsom Ranch Improvement Area 4, Seri | CUSIP: 344414HT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969715.70    | 0.11%             | 2054-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A                                  | California Statewide Community Development Authority, Revenue Bonds, Daughters of Charity Health System, Series 2005A                                  | CUSIP: 130911B33<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |     20289 | PA      | $20289.24     | 0.00%             | 2039-07-01      | Fixed         | 5.50%                 | No            |                  3 | On Loan: No      |
| California School Finance Authority, School Facility Revenue Bonds, Value Schools, Series 2016A                                                        | California School Finance Authority, School Facility Revenue Bonds, Value Schools, Series 2016A                                                        | CUSIP: 13059TDM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1355000 | PA      | $1363550.19   | 0.15%             | 2051-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| San Francisco City and County Special Tax District 2020-1, California, Special Tax Bonds, Mission Rock Facilities and Services, Series 2023B           | San Francisco City and County Special Tax District 2020-1, California, Special Tax Bonds, Mission Rock Facilities and Services, Series 2023B           | CUSIP: 79771JAG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1450000 | PA      | $1495899.03   | 0.16%             | 2053-09-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| University of Puerto Rico, University System Revenue Bonds, Series 2006Q                                                                               | University of Puerto Rico, University System Revenue Bonds, Series 2006Q                                                                               | CUSIP: 914811PR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1580000 | PA      | $1496159.83   | 0.16%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Roseville, California, Special Tax Bonds, Community Facilities District 1 Westbrook, Series 2014                                                       | Roseville, California, Special Tax Bonds, Community Facilities District 1 Westbrook, Series 2014                                                       | CUSIP: 777870UT1<br>LEI: 549300OH100KESVPND17 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1100844.91   | 0.12%             | 2034-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Revenue Bonds, Series 2008WW                                                                                     | Puerto Rico Electric Power Authority, Revenue Bonds, Series 2008WW                                                                                     | CUSIP: 74526YED3<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $410023.85    | 0.04%             | 2033-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Oceanaire-Long Beach, Social Series 2021A-2                        | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Oceanaire-Long Beach, Social Series 2021A-2                        | CUSIP: 126292AH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $2866367.60   | 0.31%             | 2056-09-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Downtown College Prep - Obligated Group, Series 2016                                | California School Finance Authority, Charter School Revenue Bonds, Downtown College Prep - Obligated Group, Series 2016                                | CUSIP: 13058TDP2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $900000.00    | 0.10%             | 2036-06-01      | Fixed         | 4.75%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Rocketship Education ? Obligated Group, Series 2016A                                | California School Finance Authority, Charter School Revenue Bonds, Rocketship Education ? Obligated Group, Series 2016A                                | CUSIP: 13058TCR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2290144.25   | 0.25%             | 2046-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010ZZ                                                                               | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010ZZ                                                                               | CUSIP: 74526YDS1<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |    275000 | PA      | $113860.79    | 0.01%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2018A                                 | California Municipal Finance Authority, Charter School Revenue Bonds, Palmdale Aerospace Academy Project, Series 2018A                                 | CUSIP: 13048DCP1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $967959.70    | 0.11%             | 2038-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento Valley & Northern Nevada Project, Series 2012A                | California Municipal Finance Authority, Revenue Bonds, Goodwill Industries of Sacramento Valley & Northern Nevada Project, Series 2012A                | CUSIP: 13048TNF6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    270000 | PA      | $262435.79    | 0.03%             | 2032-01-01      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, California Baptist University, Series 2016A                                                     | California Municipal Finance Authority, Revenue Bonds, California Baptist University, Series 2016A                                                     | CUSIP: 13048TF99<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1504659.30   | 0.16%             | 2036-11-01      | Fixed         | 5.00%                 | Yes           |                  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        |   3000000 | PA      | $2880000.30   | 0.31%             | 2039-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2021B                                               | San Diego County Regional Airport Authority, California, Airport Revenue Bonds, Subordinate Series 2021B                                               | CUSIP: 79739GNX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4923974.00   | 0.54%             | 2051-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Community Facilities District 2021-01, California, Special Tax Bond, Valencia-Facilities Improvement Area 1, Series 2022            | Los Angeles County Community Facilities District 2021-01, California, Special Tax Bond, Valencia-Facilities Improvement Area 1, Series 2022            | CUSIP: 54531MAS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1758697.33   | 0.19%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Housing Agency, California, Essential Housing Revenue Bonds, Serenity at Larkspur Apartments, Series 2020A                        | California Community Housing Agency, California, Essential Housing Revenue Bonds, Serenity at Larkspur Apartments, Series 2020A                        | CUSIP: 13013FAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  22495000 | PA      | $15747354.81  | 1.72%             | 2050-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Jurupa Unified School District, California, Special Tax Bonds, Community Facilities District 9, Series 2015A                                           | Jurupa Unified School District, California, Special Tax Bonds, Community Facilities District 9, Series 2015A                                           | CUSIP: 482128EM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3380000 | PA      | $3380526.27   | 0.37%             | 2045-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palmdale Community Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project Areas, Series 2002                             | Palmdale Community Redevelopment Agency, California, Tax Allocation Bonds, Merged Redevelopment Project Areas, Series 2002                             | CUSIP: 696716FK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1016270.53   | 0.11%             | 2030-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Corona, California, Special Tax Bonds, Community Facilities District 2018-2 Sierra Bella, Series 2022A                                                 | Corona, California, Special Tax Bonds, Community Facilities District 2018-2 Sierra Bella, Series 2022A                                                 | CUSIP: 219680GS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $345059.93    | 0.04%             | 2051-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Monterrey Station Apartments, Senior Lien Series 2021A-1           | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Monterrey Station Apartments, Senior Lien Series 2021A-1           | CUSIP: 126292BW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   9360000 | PA      | $5962860.07   | 0.65%             | 2056-07-01      | Fixed         | 3.12%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Rex and Margaret Fortune School of Education Series 2024A                           | California School Finance Authority, Charter School Revenue Bonds, Rex and Margaret Fortune School of Education Series 2024A                           | CUSIP: 13058TUM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2350000 | PA      | $2094923.72   | 0.23%             | 2064-06-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Scholarship Prep Public Schools ? Obligated Group, Series 2020A                     | California School Finance Authority, Charter School Revenue Bonds, Scholarship Prep Public Schools ? Obligated Group, Series 2020A                     | CUSIP: 13058TKG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2482960.50   | 0.27%             | 2060-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Wood Creek Apartments, Senior Lien Series 2021A-1                  | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Wood Creek Apartments, Senior Lien Series 2021A-1                  | CUSIP: 126292CE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6155000 | PA      | $3970722.22   | 0.43%             | 2049-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| San Bernardino County Financing Authority, California, Revenue Bonds, Courthouse Facilities Project, Series 2007                                       | San Bernardino County Financing Authority, California, Revenue Bonds, Courthouse Facilities Project, Series 2007                                       | CUSIP: 796826BF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    345000 | PA      | $352749.70    | 0.04%             | 2037-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2012-02, Manteca Lifestyle Center, Series 201 | California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2012-02, Manteca Lifestyle Center, Series 201 | CUSIP: 13077EDX5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000402.00   | 0.22%             | 2042-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 18, Folsom Plan Area-Area-Wide Improveme | Folsom Ranch Financing Authority, California, Special Tax Revenue Bonds, Folsom Community Facilities District 18, Folsom Plan Area-Area-Wide Improveme | CUSIP: 344414HC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1175917.44   | 0.13%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-5 Sacramento County-The GAP Improvement Area 1,  | California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2023-5 Sacramento County-The GAP Improvement Area 1,  | CUSIP: 13051AKG2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1835000 | PA      | $1818254.16   | 0.20%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fontana, California, Special Tax Bonds, Narra Hills Community Facilities District 109, Refunding Series 2024                                           | Fontana, California, Special Tax Bonds, Narra Hills Community Facilities District 109, Refunding Series 2024                                           | CUSIP: 344630M96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $399120.32    | 0.04%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| STATE STR NAVIGATOR SECS L TR                                                                                                                          | State Street Navigator Securities Lending Government Money Market Portfolio                                                                            | CUSIP: 857509301<br>LEI: N/A                  | Long             | STIV             | RF                | US        |         0 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Antelope Valley Healthcare District, California, Revenue Bonds, Series 2016A                                                                           | Antelope Valley Healthcare District, California, Revenue Bonds, Series 2016A                                                                           | CUSIP: 036680BZ8<br>LEI: 549300PLE0IY3UJZHY85 | Long             | DBT              | MUN               | US        |   3915000 | PA      | $3453530.73   | 0.38%             | 2046-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Moreno Valley Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2015-2, Series 2019              | Moreno Valley Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2015-2, Series 2019              | CUSIP: 616874RQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    970000 | PA      | $971332.30    | 0.11%             | 2048-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024B                                                          | California Municipal Finance Authority, Special Tax Revenue Bonds, Bold Program, Series 2024B                                                          | CUSIP: 13051AHW1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1066158.81   | 0.12%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Rex and Margaret Fortune School of Education Series 2024A                           | California School Finance Authority, Charter School Revenue Bonds, Rex and Margaret Fortune School of Education Series 2024A                           | CUSIP: 13058TUK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $1211051.52   | 0.13%             | 2054-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A                  | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2016A                  | CUSIP: 13080SML5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2280000 | PA      | $2213910.55   | 0.24%             | 2056-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2015A                    | California School Finance Authority, School Facility Revenue Bonds, Alliance for College-Ready Public Schools Project, Series 2015A                    | CUSIP: 13059TBW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3050000 | PA      | $2973906.16   | 0.32%             | 2035-07-01      | Fixed         | 4.12%                 | Yes           |                  2 | On Loan: No      |
| California Community Housing Agency, California, Essential Housing Revenue Bonds, Glendale Properties, Junior Series 2021A-2                           | California Community Housing Agency, California, Essential Housing Revenue Bonds, Glendale Properties, Junior Series 2021A-2                           | CUSIP: 13013FAM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   8750000 | PA      | $6672055.25   | 0.73%             | 2047-08-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Sacramento City Financing Authority, California, Tax Allocation Revenue Bonds, Merged Downtown Sacramento and Oak Park Projects, Series 2005A          | Sacramento City Financing Authority, California, Tax Allocation Revenue Bonds, Merged Downtown Sacramento and Oak Park Projects, Series 2005A          | CUSIP: 785849QQ6<br>LEI: 549300D8GE38KYE3NW14 | Long             | DBT              | MUN               | US        |   4435000 | PA      | $3268592.34   | 0.36%             | 2032-12-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2020-02 Improvement Area 2 Atwell, Series 202 | California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2020-02 Improvement Area 2 Atwell, Series 202 | CUSIP: 13077ELS7<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    340000 | PA      | $343467.39    | 0.04%             | 2052-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A                  | California Statewide Communities Development Authority, California, Revenue Bonds, Loma Linda University Medical Center, Series 2018A                  | CUSIP: 13080SVM3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    315000 | PA      | $305850.01    | 0.03%             | 2048-12-01      | Fixed         | 5.25%                 | Yes           |                  2 | On Loan: No      |
| Menifee Union School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2011-1, Improvement Area 7, Series 2021  | Menifee Union School District, Riverside County, California, Special Tax Bonds, Community Facilities District 2011-1, Improvement Area 7, Series 2021  | CUSIP: 5868105U3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1340772.80   | 0.15%             | 2047-09-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Yorkville United City Business District, Illinois, Storm Water and Water Improvement Project Revenue Bonds, Series 2007                                | Yorkville United City Business District, Illinois, Storm Water and Water Improvement Project Revenue Bonds, Series 2007                                | CUSIP: 987357AB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $107300.00    | 0.01%             | 2027-01-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Encore Education Obligated Group, Series 2016A                          | California School Finance Authority, California, Charter School Revenue Bonds, Encore Education Obligated Group, Series 2016A                          | CUSIP: 13058TED8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1078000.00   | 0.12%             | 2052-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Dixon, California, Special Tax Bonds, Community Facilities District 2019-1 Homestead, Improvement Area 2, Series 2024                                  | Dixon, California, Special Tax Bonds, Community Facilities District 2019-1 Homestead, Improvement Area 2, Series 2024                                  | CUSIP: 255650FY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $629094.31    | 0.07%             | 2046-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Larchmont Charter School Project , Series 2018A                                     | California School Finance Authority, Charter School Revenue Bonds, Larchmont Charter School Project , Series 2018A                                     | CUSIP: 13058TGV6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1000286.40   | 0.11%             | 2055-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California Public Finance Authority, University Housing Revenue Bonds, National Campus Community Development - Claremont Properties LLC Claremont Coll | California Public Finance Authority, University Housing Revenue Bonds, National Campus Community Development - Claremont Properties LLC Claremont Coll | CUSIP: 13051CAD6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1831936.93   | 0.20%             | 2053-07-01      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| Paso Robles Joint Unified School District, San Luis Obispo and Monteray Counties, California, General Obligation Bonds, Election 2006 Series 2010A     | Paso Robles Joint Unified School District, San Luis Obispo and Monteray Counties, California, General Obligation Bonds, Election 2006 Series 2010A     | CUSIP: 70262RBV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1350000 | PA      | $967901.54    | 0.11%             | 2034-09-01      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2017                                                          | Palomar Pomerado Health Care District, California, Certificates of Participation, Series 2017                                                          | CUSIP: 69752RAN5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $957017.40    | 0.10%             | 2047-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority Charter School Facility Revenue Bonds, Grimmway Schools-Obligated Group, Series 2016A                              | California School Finance Authority Charter School Facility Revenue Bonds, Grimmway Schools-Obligated Group, Series 2016A                              | CUSIP: 13058TEK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1024713.87   | 0.11%             | 2046-07-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, 1818 Platinum Triangle-Anaheim, Mezzanine Lien Series 2021B        | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, 1818 Platinum Triangle-Anaheim, Mezzanine Lien Series 2021B        | CUSIP: 126292BH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2905000 | PA      | $2011469.35   | 0.22%             | 2057-04-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010ZZ                                                                               | Puerto Rico Electric Power Authority, Power Revenue Bonds, Series 2010ZZ                                                                               | CUSIP: 74526YDU6<br>LEI: 5493003BRB67HF8ST418 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $421223.15    | 0.05%             | 2026-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Rancho Cardova, California, Special Tax Bonds, Community Facilities District 2005-1 Sunridge North Douglas Series 2015                                 | Rancho Cardova, California, Special Tax Bonds, Community Facilities District 2005-1 Sunridge North Douglas Series 2015                                 | CUSIP: 75211RGD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1200954.60   | 0.13%             | 2040-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2022-8 City of Palmdale - Wildflower/Creekside Encore | California Municipal Finance Authority, Special Tax Revenue Bonds, Community Facilities District 2022-8 City of Palmdale - Wildflower/Creekside Encore | CUSIP: 13051AJQ2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    500000 | PA      | $493375.30    | 0.05%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2015A                                  | California Municipal Finance Authority Charter School Revenue Bonds, John Adams Academies, Inc. Project, Series 2015A                                  | CUSIP: 13048DBH0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    900000 | PA      | $899929.98    | 0.10%             | 2035-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Hayward Twin Oaks Montessori Charter School Project, Series 2024A       | California School Finance Authority, California, Charter School Revenue Bonds, Hayward Twin Oaks Montessori Charter School Project, Series 2024A       | CUSIP: 13058TUQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $4541171.00   | 0.50%             | 2054-06-15      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Lease Revenue Bonds, Santa Rosa Academy Project, Series 2015                                    | California Municipal Finance Authority, Charter School Lease Revenue Bonds, Santa Rosa Academy Project, Series 2015                                    | CUSIP: 130486AT0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    425000 | PA      | $397530.89    | 0.04%             | 2045-07-01      | Fixed         | 5.38%                 | Yes           |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Wood Creek Apartments, Mezzanine Lien Series 2021A-2               | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Wood Creek Apartments, Mezzanine Lien Series 2021A-2               | CUSIP: 126292CF6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1379286.80   | 0.15%             | 2058-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Escondido Portfolio, Social Senior Lien Series 2021A-2             | CSCDA Community Improvement Authority, California, Essential Housing Revenue Bonds, Escondido Portfolio, Social Senior Lien Series 2021A-2             | CUSIP: 126292CJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1517669.20   | 0.17%             | 2058-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, California, Charter School Revenue Bonds, Girls Athletic Leadership School Los Angeles Project, Series 2021A      | California School Finance Authority, California, Charter School Revenue Bonds, Girls Athletic Leadership School Los Angeles Project, Series 2021A      | CUSIP: 13058TMN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $333262.90    | 0.04%             | 2061-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Riverside County, California, Special Tax Bonds, Community Facilities District 03-1 Newport Road, Series 2014                                          | Riverside County, California, Special Tax Bonds, Community Facilities District 03-1 Newport Road, Series 2014                                          | CUSIP: 76911FSQ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2115000 | PA      | $2120768.03   | 0.23%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A                                                         | California Municipal Finance Authority, Revenue Bonds, NorthBay Healthcare Group, Series 2017A                                                         | CUSIP: 13048TP23<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   5480000 | PA      | $5173543.06   | 0.56%             | 2041-11-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| West Sacramento, California, Special Tax Bonds, Community Facilities District 27 Bridge District, Series 2017                                          | West Sacramento, California, Special Tax Bonds, Community Facilities District 27 Bridge District, Series 2017                                          | CUSIP: 955656QX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5605000 | PA      | $5533148.94   | 0.60%             | 2047-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Menifee, California, Special Tax Bonds, Community Facilities District 2021-1, Banner Park Series 2023A                                                 | Menifee, California, Special Tax Bonds, Community Facilities District 2021-1, Banner Park Series 2023A                                                 | CUSIP: 58680WDY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $729984.68    | 0.08%             | 2053-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverside Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 40, Series 2025A                     | Riverside Unified School District, Riverside County, California, Special Tax Bonds, Community Facilities District 40, Series 2025A                     | CUSIP: 769069Z73<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1944126.00   | 0.21%             | 2055-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Bernardino Community Facilities District Number 2020-1, California, Special Tax Bonds, Series 2022                                                 | San Bernardino Community Facilities District Number 2020-1, California, Special Tax Bonds, Series 2022                                                 | CUSIP: 796794BR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1485000 | PA      | $1282324.53   | 0.14%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. - Lincoln Project, Series 2019A                       | California Municipal Finance Authority, Charter School Revenue Bonds, John Adams Academies, Inc. - Lincoln Project, Series 2019A                       | CUSIP: 13048DCV8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    405000 | PA      | $397762.29    | 0.04%             | 2029-10-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| California Municipal Finance Authority, Education Revenue Bonds,  American Heritage Foundation Project, Series 2016A                                   | California Municipal Finance Authority, Education Revenue Bonds,  American Heritage Foundation Project, Series 2016A                                   | CUSIP: 13049AAG8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1715000 | PA      | $1652394.78   | 0.18%             | 2046-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento City Financing Authority California, Lease Revenue Bonds, Master Lease Program Facilities Projects, Tender Option Bond Trust 2016-XG0100    | Sacramento City Financing Authority California, Lease Revenue Bonds, Master Lease Program Facilities Projects, Tender Option Bond Trust 2016-XG0100    | CUSIP: 88033SX66<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1510000 | PA      | $2288844.11   | 0.25%             | 2033-12-01      | Floating      | 13.82%                | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Kepler Neighborhood School, Series 2017A                                            | California School Finance Authority, Charter School Revenue Bonds, Kepler Neighborhood School, Series 2017A                                            | CUSIP: 13058TEY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $676651.93    | 0.07%             | 2037-05-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| California Enterprise Development Authority, Charter School Revenue Bonds, Rocklin Academy Project, Series 2024                                        | California Enterprise Development Authority, Charter School Revenue Bonds, Rocklin Academy Project, Series 2024                                        | CUSIP: 13069AAY4<br>LEI: 549300544P6FSHU1HB46 | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1447795.70   | 0.16%             | 2044-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2018D                                 | San Francisco Airports Commission, California, Revenue Bonds, San Francisco International Airport, Second Series 2018D                                 | CUSIP: 79766DRM3<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   5165000 | PA      | $5060490.36   | 0.55%             | 2048-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| El Dorado County, California, Special Tax Bonds, Community Facilities District 2005-2, Series 2006                                                     | El Dorado County, California, Special Tax Bonds, Community Facilities District 2005-2, Series 2006                                                     | CUSIP: 283113DR6<br>LEI: 254900YWTZGSOPTH2R20 | Long             | DBT              | MUN               | US        |    250000 | PA      | $250595.95    | 0.03%             | 2036-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2019C                         | California Statewide Communities Development Authority, Statewide Community Infrastructure Program Revenue Bonds, Series 2019C                         | CUSIP: 13078YQG3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    725000 | PA      | $719613.11    | 0.08%             | 2044-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2018-02, McSweeny, Improvement Area 1 Series  | California Statewide Communities Development Authority, Special Tax Bonds, Community Facilities District 2018-02, McSweeny, Improvement Area 1 Series  | CUSIP: 13077ENN6<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1208653.32   | 0.13%             | 2053-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Russell Westbrook Why Not? Academy ? Obligated Group, Series 2021A                  | California School Finance Authority, Charter School Revenue Bonds, Russell Westbrook Why Not? Academy ? Obligated Group, Series 2021A                  | CUSIP: 13058TPA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2071844.70   | 0.23%             | 2061-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C                        | Los Angeles Department of Airports, California, Revenue Bonds, Los Angeles International Airport, Subordinate Lien Series 2018C                        | CUSIP: 544445GB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |  10000000 | PA      | $9902854.00   | 1.08%             | 2044-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Santa Clara County Housing Authority, California, Multifamily Housing Revenue Bonds, Blossom River Project, Series 1998A                               | Santa Clara County Housing Authority, California, Multifamily Housing Revenue Bonds, Blossom River Project, Series 1998A                               | CUSIP: 801617DG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $387288.77    | 0.04%             | 2039-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Aspire Public School - Obligated Group,Issue No.6, Series 2020A                     | California School Finance Authority, Charter School Revenue Bonds, Aspire Public School - Obligated Group,Issue No.6, Series 2020A                     | CUSIP: 13058TPU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969399.30    | 0.11%             | 2042-08-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| Tracy, California, Special Tax Bonds, Community Facilities District 2016-1 Tracy Hills,  Improvement Area 1, Series 2019                               | Tracy, California, Special Tax Bonds, Community Facilities District 2016-1 Tracy Hills,  Improvement Area 1, Series 2019                               | CUSIP: 892376RG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1172641.31   | 0.13%             | 2049-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Community High School Foundation Inc, Series 2017                                   | California School Finance Authority, Charter School Revenue Bonds, Community High School Foundation Inc, Series 2017                                   | CUSIP: 13058TSZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $230621.15    | 0.03%             | 2037-06-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Rex and Margaret Fortune School of Education Series 2024A                           | California School Finance Authority, Charter School Revenue Bonds, Rex and Margaret Fortune School of Education Series 2024A                           | CUSIP: 13058TUL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1545000 | PA      | $1394426.93   | 0.15%             | 2059-06-01      | Fixed         | 5.12%                 | Yes           |                  2 | On Loan: No      |
| California School Finance Authority, Charter School Revenue Bonds, Ivy Academia, Series 2021A                                                          | California School Finance Authority, Charter School Revenue Bonds, Ivy Academia, Series 2021A                                                          | CUSIP: 13058TNP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1021709.40   | 0.11%             | 2051-06-01      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-31

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

**Signature:** Gina Spunder

**Name of Signer:** Gina Spunder

**Title:** Director, Fund Financial Reporting