Certain information contained in this President’s Letter represents the opinion of the investment adviser which may change at any time. This information is not intended to be a forecast of future events, a guarantee of future results or investment advice. Current market conditions may not continue. Also, unless otherwise specifically noted, any discussion of the Funds’ holdings, the Funds’ performance, and the views of the investment adviser are as of October 31, 2022.

Back in July, I said that Market Volatility Has One Final Act.¹Stocks and bonds historically do not perform well when the U.S. Federal Reserve (Fed) tightens monetary conditions, and that’s just what the Fed announced it would be doing at the end of 2021. This would include raising rates and changing its balance sheet actions, which doesn’t create a great environment for financial assets. If we’re in the last, third act of the play, the third act may last a very long time.

There are three things investors are currently facing, none of which is either particularly positive for financial assets or likely to change soon. But bond prices have dropped significantly, and so you will see at the end of the letter that we are bullish bonds.

The typical range for the rate of growth of money supply is in the low single digits. This increased during the global financial crisis and then exploded during the COVID–19 pandemic, but the recent rate of growth of money supply is close to 0% or even negative.

Another component to monetary policy is the Fed balance sheet. After buying bonds during the pandemic, the Fed is now going to start shrinking the balance sheet—one estimate indicates $279B net out through the end of the year. The Fed has only shrunk its balance sheet once before, so we are facing a big unknown.

Commodity prices and the Consumer Price Index (CPI) receive much focus, but I think what the Fed is really fighting is wage inflation. That is the kind of inflation that is endemic and hard to manage once it takes hold, not least because it creates a spiraling effect. I think the Fed knows it can’t control oil prices or supply chain directly, but it wants to manage this wage inflation psychology.

Services typically don’t reflect the price of commodities and, this year, we have seen services inflation increase from 3% to 6%. That’s not slowing down, and this is a battle the Fed is fighting that I think will last for an extended period of time.

Last year when my colleagues and I spoke about inflation,²I had noted that we wouldn’t know about wage inflation until the second half of this year, and now we know. Wage inflation is here. Another factor, which has only happened a couple times in a hundred years, is the pandemic. We don’t know how wage inflation is going to react, because the labor market is still tight in the U.S. and many workers have changed their behaviors and expectations. I think it will take another 6–12 months before we know whether wage inflation will be endemic and how the Fed responds. And the latest data still shows a strong labor market with low unemployment.

Inflation has caused real take-home pay to shrink over the past year. This should result in a midterm effect in which Republicans take one or both houses, which means a higher likelihood of government gridlock. Even if the Democrats win, as Larry Summers pointed out, stimulus spending during the pandemic led to inflation, so we’re unlikely to see another big stimulus spending bill regardless of who controls government.

Looking at global growth today, we see Europe in a recession and China has slowed down. Over the last 20 years, U.S. and China have been the two main pillars of global growth. China is now going to have a much lower GDP growth rate for the foreseeable future. Think about China growth being 2%, not the 6–8% of the past decades. China has anti–business regulatory policies, and there is a decoupling happening, spurred in part by the tariff fight and in part by re–appraisal of supply chain vulnerabilities, which may mean less foreign investment in China. While 2% GDP growth for China will still be a significant contributor to global growth, we will likely have to look to India, Indonesia and Africa to take up the baton as pillars of higher percentage global growth.

I believe that these conditions are going to be sticking around for a while, and what the markets are looking at now is the pressure on corporate profitability. Stocks are down because P/E ratios are down, but earnings are still flat. We don’t know yet what earnings will be like, so there will be a lot of information for equity investors to gather over the next few quarters. Monetary and fiscal policy, as well as global growth, are all contractionary.

Amidst all this market turbulence, bond investments are now offering attractive yields, so this is our favorite asset class to buy now. (See What to Buy? Bonds. When? Now.)³Because of higher interest rates, bonds can offer adequate returns like they did in the 1970’s even though that decade was the worst for interest rates in the last 100 years.

We thank you for investing in VanEck’s investment strategies. On the following pages, you will find financial statements for each of the funds for the six month period ended October 31, 2022. As always, we value your continued confidence in us and look forward to helping you meet your investment goals in the future.

PS The investing outlook can change suddenly, as it certainly did in 2021. To get our quarterly investment outlooks, please subscribe to “VanEck News & Insights”. Should you have any questions regarding fund performance, please contact us at 800.826.2333 or visit our website.

1 Market Volatility Has One Final Act, https://www.vaneck.com/us/en/blogs/investment-outlook/jan-van-eck-market-volatility-has-one-final-act/.

2 Navigating the Markets: Inflation and the Risks to Goldilocks, https://www.vaneck.com/us/en/blogs/investment-outlook/jan-van-eck-navigating-the-markets-inflation-and-the-risks-to-goldilocks/.

3 What to Buy? Bonds. When? Now, https://www.vaneck.com/us/en/blogs/investment-outlook/jan-van-eck-what-to-buy-bonds-when-now/.

As a shareholder of a Fund, you incur operating expenses, including management fees and other Fund expenses. This disclosure is intended to help you understand the ongoing costs (in dollars) of investing in your Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The disclosure is based on an investment of $1,000 invested at the beginning of the period and held for the entire period, May 1, 2022 to October 31, 2022.

The first line in the table below provides information about account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses Paid During the Period.”

The second line in the table below provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

	Number of Shares		Value
CLOSED-END FUNDS: 99.9% (a)
Alliance Bernstein National Municipal Income Fund, Inc.		148,178	$	1,514,379
Blackrock Investment Quality Municipal Trust, Inc.		43,109		468,164
BlackRock Long-Term Municipal Advantage Trust		34,873		306,882
BlackRock MuniAssets Fund, Inc.		123,025		1,173,659
BlackRock Municipal 2030 Target Term Trust		318,902		6,559,814
BlackRock Municipal Income Fund, Inc.		379,647		3,952,125
BlackRock Municipal Income Quality Trust		96,076		979,014
BlackRock Municipal Income Trust		229,503		2,079,297
BlackRock Municipal Income Trust II		248,015		2,341,262
BlackRock MuniHoldings Fund, Inc.		247,453		2,657,645
BlackRock MuniHoldings Quality Fund II, Inc.		99,590		933,158
BlackRock MuniVest Fund II, Inc.		109,558		1,045,183
BlackRock MuniVest Fund, Inc.		433,642		2,753,627
BlackRock MuniYield Fund, Inc.		240,946		2,296,215
BlackRock MuniYield Quality Fund II, Inc.		70,556		664,638
BlackRock MuniYield Quality Fund III, Inc.		319,156		3,204,326
BlackRock MuniYield Quality Fund, Inc.		339,065		3,600,870
BNY Mellon Municipal Bond Infrastructure Fund, Inc.		42,791		426,198
BNY Mellon Municipal Income, Inc.		116,593		682,069
BNY Mellon Strategic Municipal Bond Fund, Inc.		229,444		1,238,998
BNY Mellon Strategic Municipals, Inc.		288,341		1,730,046
Delaware Investments National Municipal Income Fund		90,902		945,072
DWS Municipal Income Trust		206,437		1,641,174
Eaton Vance Municipal Bond Fund		369,179		3,488,742
Eaton Vance Municipal Income 2028 Term Trust		28,531		530,249

	Number of Shares		Value
Eaton Vance Municipal Income Trust		182,293	$	1,739,075
Eaton Vance National Municipal Opportunities Trust		58,301		925,237
Invesco Advantage Municipal Income Trust II		208,516		1,636,851
Invesco Municipal Income Opportunities Trust		148,795		821,348
Invesco Municipal Opportunity Trust		343,909		3,022,960
Invesco Municipal Trust		283,867		2,492,352
Invesco Quality Municipal Income Trust ‡		272,219		2,409,138
Invesco Trust for Investment Grade Municipals		278,714		2,525,149
Invesco Value Municipal Income Trust		176,358		1,989,318
MFS High Income Municipal Trust		164,355		539,084
MFS Municipal Income Trust		214,654		1,023,900
Neuberger Berman Municipal Fund, Inc.		96,648		931,687
Nuveen AMT-Free Municipal Credit Income Fund		760,112		8,384,035
Nuveen AMT-Free Municipal Value Fund		82,776		1,091,815
Nuveen AMT-Free Quality Municipal Income Fund		1,025,861		10,586,886
Nuveen Dynamic Municipal Opportunities Fund		211,577		1,995,171
Nuveen Municipal Credit Income Fund		764,953		8,284,441
Nuveen Municipal Credit Opportunities Fund		167,394		1,739,224
Nuveen Municipal High Income Opportunity Fund		327,250		3,223,413
Nuveen Municipal Value Fund, Inc.		749,734		6,260,279
Nuveen Quality Municipal Income Fund		990,489		10,528,898
Nuveen Select Tax-Free Income Portfolio		169,737		2,208,278
PIMCO Municipal Income Fund		63,285		646,140
PIMCO Municipal Income Fund II		151,282		1,340,359
PIMCO Municipal Income Fund III		84,353		673,137

Transactions in securities of affiliates for the period ended October 31, 2022 were as follows:

The summary of inputs used to value the Fund's investments as of October 31, 2022 is as follows:

	Par (000’s		)		Value
MUNICIPAL BONDS: 97.7%
Alabama: 2.2%
Alabama Special Care Facilities Financing Authority, Methodist Home for Aging (RB)
5.25%, 06/01/25	$	315		$	307,217
5.75%, 06/01/26 (c)		2,000			1,698,271
5.75%, 06/01/26 (c)		1,400			1,270,340
6.00%, 06/01/26 (c)		5,900			5,056,020
Black Belt Energy Gas District, Project No. 8, Series A (RB) 4.00%, 12/01/29 (c) (p)		3,960			3,707,250
Hoover Industrial Development Board, United States Steel Corp. Project (RB) 6.38%, 11/01/30 (p)		1,180			1,281,828
Hoover Industrial Development Board, United States Steel Corp. Project (RB) (SD CRED PROG) 5.75%, 10/01/29 (c)		10,040			10,141,972
Jefferson County, Sewer Revenue, Series D (RB)
6.00%, 10/01/23 (c)		10,000			10,666,656
6.50%, 10/01/23 (c)		9,000			9,628,932
Jefferson County, Sewer Revenue, Series E (RB)
0.00%, 10/01/23 (c) ^		100			46,809
0.00%, 10/01/23 (c) ^		60			23,833
Lower Alabama Gas District, Project No. 2 (RB) (SAW) 4.00%, 12/01/25 (c) (p)		1,000			971,298
Montgomery Alabama Medical Clinic Board of Health Care Facility, Jackson Hospital and Clinic (RB) 5.00%, 03/01/26 (c)		1,350			1,226,660
Southeast Energy Authority, A Cooperative District Commodity Supply, Project No.2, Series B (RB) 4.00%, 12/01/31 (c) (p)		1,000			900,869
Sumter County, Alabama Industrial Development Authority Exempt Facilities, Enviva, Inc. Project (RB) 6.00%, 07/15/32 (c) (p)		8,000			7,238,381
Tuscaloosa County Industrial Development Authority, Hunt Refining Project, Series A (RB) 4.50%, 05/01/29 (c)		5,127			4,356,703
					58,523,039
Alaska: 0.2%
Northern Tobacco Securitization Corp., Series A (RB) 4.00%, 06/01/31 (c)		1,500			1,178,896

	Par (000’s		)		Value
Alaska (continued)
Northern Tobacco Securitization Corp., Series B-1 (RB) 4.00%, 06/01/31 (c)	$	4,030		$	3,739,857
Northern Tobacco Securitization Corp., Series B-2 (RB) 0.00%, 06/01/31 (c) ^		3,000			262,363
					5,181,116
American Samoa: 0.2%
American Samoa Economic Development Authority, Series A (RB)
5.00%, 09/01/31 (c)		2,750			2,753,888
6.50%, 09/01/28		250			268,751
6.62%, 09/01/25 (c)		1,000			1,049,462
					4,072,101
Arizona: 2.7%
Arizona Industrial Development Authority Education Facility, Leman Academy of Excellence Projects, Series A (RB) 4.50%, 07/01/29 (c)		1,000			793,812
Arizona Industrial Development Authority, Academies of Math and Science, Series B (RB) 5.00%, 01/01/27 (c)		200			196,654
Arizona Industrial Development Authority, American Charter School Foundation Project (RB)
6.00%, 07/01/27 (c)		2,940			2,924,541
6.00%, 07/01/27 (c)		1,320			1,336,973
Arizona Industrial Development Authority, Arizona Agribusiness and Equine Center, Inc. Project, Series B (RB) 5.00%, 09/01/27 (c)		1,545			1,426,669
Arizona Industrial Development Authority, Basis School Project, Series A (RB)
5.12%, 07/01/26 (c)		250			243,078
5.25%, 07/01/26 (c)		500			469,726
Arizona Industrial Development Authority, Basis School Project, Series D (RB)
5.00%, 07/01/27 (c)		270			241,503
5.00%, 07/01/27 (c)		515			453,814
Arizona Industrial Development Authority, Basis School Project, Series G (RB) (AGM) 5.00%, 07/01/27 (c)		500			447,228
Arizona Industrial Development Authority, Doral Academy - Fire Mesa and Red Rock Campus, Series A (RB) 3.55%, 07/15/27 (c)		1,155			1,030,683

	Par (000’s		)		Value
Arizona (continued)
5.00%, 07/15/27 (c)	$	400		$	361,522
5.00%, 07/15/27 (c)		300			253,967
Arizona Industrial Development Authority, Education Facility, Series A (RB)
5.25%, 07/01/23 (c)		1,050			989,442
5.50%, 07/01/23 (c)		2,100			1,927,999
Arizona Industrial Development Authority, Kaizen Education Project (RB) 5.70%, 07/01/26 (c)		1,000			1,004,169
Arizona Industrial Development Authority, Legacy Cares, Inc. Project, Series A (RB) (AGM) 6.62%, 07/01/27		1,000			910,000
Arizona Industrial Development Authority, Legacy Cares, Inc. Project, Series C (RB) (AGM) 6.75%, 07/01/27 (c)		2,000			1,700,000
Arizona Industrial Development Authority, Leman Academy of Excellence, East Tucson and Central Tucson Projects, Series A (RB) 4.00%, 07/01/24 (c)		500			460,963
Arizona Industrial Development Authority, Pinecrest Academy of Nevada-Cadence Campus Project, Series A (RB) 4.00%, 07/15/28 (c)		1,370			1,080,954
Arizona Industrial Development Authority, Pinecrest Academy of Northern Nevada Project, Series A (RB) 4.50%, 07/15/25 (c)		500			469,841
Arizona Industrial Development Authority, Somerset Academy of Las Vegas, Series A (RB) 4.00%, 12/15/29 (c)		1,400			1,001,732
City of Phoenix Civic Improvement Corp., Series B (RB) (AGM) 4.00%, 07/01/29 (c)		1,040			906,421
City of Phoenix Civic Improvement Corp., Series B (RB) (BAM-TCRS ST AID WITHHLDG) 5.00%, 07/01/29 (c)		6,990			6,710,791
Glendale Industrial Development Authority, Beatitudes Campus Project (RB)
4.00%, 11/15/24 (c)		250			233,276
5.00%, 11/15/24 (c)		1,000			842,004
Glendale Industrial Development Authority, Royal Oaks Inspirata Pointe Project, Series A (RB) 5.00%, 05/15/26 (c)		1,340			1,117,339

	Par (000’s		)		Value
Arizona (continued)
Industrial Development Authority of the City of Phoenix, Basis Schools, Inc. Project, Series A (RB)
4.00%, 07/01/25	$	315		$	308,444
5.00%, 07/01/25 (c)		900			874,449
5.00%, 07/01/25 (c)		1,000			904,787
5.00%, 07/01/25 (c)		500			454,555
Industrial Development Authority of the City of Phoenix, Downtown Student Housing, Series A (RB) 5.00%, 07/01/28 (c)		750			676,844
Industrial Development Authority of the City of Phoenix, Legacy Traditional School Project (RB) 5.00%, 07/01/25 (c)		2,320			2,068,416
Industrial Development Authority of the City of Phoenix, Legacy Traditional School Project, Series A (RB) 5.00%, 07/01/26 (c)		750			708,052
Maricopa County Arizona Industrial Development Authority, Commercial Metals Company Project (RB) 4.00%, 01/01/26 (c)		5,830			4,300,832
Maricopa County Industrial Development Authority, Benjamin Franklin Charter School Projects, Series A (RB) 6.00%, 07/01/28 (c)		1,000			1,005,137
Maricopa County Industrial Development Authority, Legacy Traditional Schools Projects, Series A (RB) (SD CRED PROG)
5.00%, 07/01/29 (c)		1,400			1,353,681
5.00%, 07/01/29 (c)		1,300			1,268,630
Maricopa County Industrial Development Authority, Legacy Traditional Schools Projects, Series B (RB)
5.00%, 07/01/29 (c)		500			463,134
5.00%, 07/01/29 (c)		500			431,333
5.00%, 07/01/29 (c)		1,990			1,741,047
Maricopa County Industrial Development Authority, Paradise School Project (RB) 5.00%, 07/01/26 (c)		1,750			1,540,347
Peoria Industrial Development Authority, Sierra Winds Life Care Community Project, Series A (RB) 5.00%, 11/15/24		255			243,757

	Par (000’s		)		Value
Arizona (continued)
Phoenix Arizona Industrial Development Authority, Falcon Properties LLC, Project, Series A (RB) 4.15%, 12/01/31 (c)	$	5,000		$	3,331,935
Pima County Industrial Development Authority, American Leadership Academy Project (RB) 5.62%, 06/15/25 (c)		1,250			1,163,107
Pima County Industrial Development Authority, American Leadership Academy Project (RB) (SD CRED PROG) 5.00%, 06/15/25 (c)		500			418,268
Pima County Industrial Development Authority, Edkey Charter Schools Project (RB)
5.25%, 07/01/26 (c)		250			233,978
5.38%, 07/01/26 (c)		250			223,673
5.50%, 07/01/26 (c)		250			225,318
Pima County, Arizona Industrial Development Authority, Edkey Charter School Project (RB) 5.00%, 07/01/26 (c)		1,000			968,177
Salt Verde Financial Corp. (RB)
5.00%, 12/01/37		9,605			9,478,236
5.25%, 12/01/23		290			293,129
5.25%, 12/01/24		305			310,650
5.25%, 12/01/25		265			271,613
5.25%, 12/01/27		215			221,961
5.25%, 12/01/28		245			253,379
Tempe Industrial Development Authority, Friendship Village of Tempe (RB) 5.00%, 12/01/26 (c)		355			285,588
Tempe Industrial Development Authority, Friendship Village of Tempe (RB) (AGM) 5.00%, 12/01/26 (c)		250			204,345
Tempe Industrial Development Authority, Mirabella at ASU Project, Series A (RB)
6.00%, 10/01/27 (c)		1,200			1,059,560
6.12%, 10/01/27 (c)		5,300			4,488,327
6.12%, 10/01/27 (c)		600			499,655
					71,809,445
Arkansas: 0.6%
Arkansas Development Finance Authority, Big River Steel Project (RB)
4.50%, 09/01/26 (c)		16,070			12,606,105
4.75%, 09/01/27 (c)		2,000			1,636,439

	Par (000’s		)		Value
Arkansas (continued)
Arkansas Development Finance Authority, Environmental Improvement, United States Steel Corporation Project (RB) 5.45%, 09/01/25 (c)	$	3,000		$	2,714,313
					16,956,857
California: 11.7%
Alameda Corridor Transportation Authority, Second Subordinate Lien, Series B (RB)
5.00%, 10/01/26 (c)		3,000			3,022,692
5.00%, 10/01/26 (c)		5,000			5,016,283
5.00%, 10/01/26 (c)		1,650			1,659,821
5.00%, 10/01/26 (c)		2,055			2,065,242
Anaheim Community Facilities District No. 08-1 (ST)
4.00%, 09/01/23 (c)		615			518,973
4.00%, 09/01/23 (c)		160			142,896
4.00%, 09/01/23 (c)		420			338,241
Antelope Valley Healthcare District, Series A (RB)
5.00%, 03/01/26 (c)		1,610			1,399,267
5.25%, 03/01/26 (c)		1,480			1,467,079
California Community College Financing Authority, Orange Coast College Project (RB) 5.25%, 05/01/28 (c)		695			628,712
California Community Housing Agency, Essential Housing, Arbors, Series A (RB) 5.00%, 08/01/30 (c)		3,100			2,550,008
California Community Housing Agency, Essential Housing, Creekwood, Series A (RB) 4.00%, 08/01/31 (c)		11,735			8,117,935
California Community Housing Agency, Essential Housing, Glendale Properties, Series A-1 (RB) 4.00%, 08/01/31 (c)		6,000			4,502,117
California Community Housing Agency, Essential Housing, Glendale Properties, Series A-2 (RB) 4.00%, 08/01/31 (c)		2,000			1,351,311
California Community Housing Agency, Essential Housing, Glendale Properties, Series A-2 (RB) (AGM) 4.00%, 08/01/32 (c)		3,000			1,853,467
California Community Housing Agency, Essential Housing, Mira Vista Hills Apartments, Series A (RB) 4.00%, 08/01/31 (c)		4,000			2,787,961

	Par (000’s		)		Value
California (continued)
California Community Housing Agency, Essential Housing, Serenity at Larkspur, Series A (RB) 5.00%, 02/01/30 (c)	$	3,000		$	2,488,123
California Community Housing Agency, Essential Housing, Summit at Sausalito Apartments, Series A-2 (RB) 4.00%, 08/01/32 (c)		2,000			1,371,005
California Community Housing Agency, Series A-1 (RB) 4.00%, 08/01/31 (c)		4,500			3,375,458
California Community Housing Agency, Stoneridge Apartments, Series A (RB) 4.00%, 02/01/31 (c)		6,000			4,166,747
California County Tobacco Securitization Agency, Alameda County Tobacco Asset Securitization Corp. (RB) 5.88%, 12/01/22 (c)		15			15,241
California County Tobacco Securitization Agency, Golden Gate Tobacco, Series A (RB) 5.00%, 11/16/22 (c)		15			13,789
California County Tobacco Securitization Agency, Series A (RB) 4.00%, 06/01/30 (c)		1,170			908,651
California Health Facilities Financing Authority, Children’s Hospital, Series A (RB)
4.00%, 08/15/27 (c)		250			199,924
4.20%, 08/15/27 (c)		500			435,739
4.25%, 11/15/22 (c)		80			80,030
5.00%, 08/15/27 (c)		990			947,384
5.00%, 08/15/27 (c)		460			450,261
California Health Facilities Financing Authority, Commonspirit Health, Series A (RB) 4.00%, 04/01/30 (c)		3,110			2,400,510
California Health Facilities Financing Authority, Sutter Health, Series A (RB) 5.00%, 11/15/27 (c)		2,500			2,475,371
California Housing Finance Agency, Series A (RB)
3.50%, 11/20/35		977			835,849
4.00%, 03/20/33		955			903,915
California Infrastructure & Economic Development Bank, California State Teachers Retirement System (RB) 5.00%, 08/01/29 (c)		1,085			1,153,611

	Par (000’s		)		Value
California (continued)
California Infrastructure & Economic Development Bank, Wonderful Foundations Charter School Portfolio Project, Series A-1 (RB)
5.00%, 01/01/31 (c)	$	2,500		$	1,785,139
5.00%, 07/01/30 (c)		1,000			717,172
California Municipal Finance Authority, Azusa Pacific University Project, Series B (RB) (NATL) 5.00%, 04/01/25 (c)		1,910			1,734,367
California Municipal Finance Authority, California Baptist University, Series A (RB)
5.50%, 11/01/25 (c)		500			500,063
6.12%, 11/01/23 (c)		1,000			1,015,771
California Municipal Finance Authority, Charter School Santa Rosa Academy Project, (RB) 5.00%, 07/01/32 (c)		1,000			822,297
California Municipal Finance Authority, CHF-Davis I, LLC - West Village Student Housing Project (RB) 5.00%, 11/15/28 (c)		500			482,704
California Municipal Finance Authority, CHF-Davis I, LLC - West Village Student Housing Project (RB) (BAM) 4.00%, 11/15/28 (c)		150			122,005
California Municipal Finance Authority, CHF-Davis II, LLC - Orchard Park Student Housing Project (RB) (BAM)
3.00%, 05/15/31 (c)		3,650			2,341,810
4.00%, 05/15/31 (c)		5,000			4,256,487
California Municipal Finance Authority, CHF-Davis II, LLC - Orchard Park Student Housing Project, Series A (RB) (BAM) 4.00%, 05/15/31 (c)		1,500			1,329,628
California Municipal Finance Authority, Eisenhower Medical Center, Series A (RB)
5.00%, 07/01/27 (c)		200			204,624
5.00%, 07/01/27 (c)		250			255,325
California Municipal Finance Authority, Holy Names University (RB) 7.00%, 10/01/29 (c)		2,500			2,478,847
California Municipal Finance Authority, John Adams Academies Lincoln Project, Series A (RB)
5.00%, 10/01/27 (c)		500			399,821
5.00%, 10/01/27 (c)		500			412,325

	Par (000’s		)		Value
California (continued)
5.00%, 10/01/27 (c)	$	500		$	442,442
California Municipal Finance Authority, Julian Charter School Project, Series A (RB) 5.62%, 03/01/25 (c)		2,390			2,109,374
California Municipal Finance Authority, LINXS APM Project, Series A (RB)
5.00%, 06/30/28 (c)		500			510,036
5.00%, 06/30/28 (c)		2,490			2,358,657
5.00%, 06/30/28		65			66,441
5.00%, 06/30/28 (c)		600			612,447
California Municipal Finance Authority, LINXS APM Project, Series A (RB) (AGM)
3.00%, 06/30/28 (c)		1,950			1,685,687
5.00%, 06/30/28 (c)		3,405			3,158,055
5.00%, 06/30/28 (c)		1,000			979,505
5.00%, 06/30/28 (c)		700			694,406
5.00%, 06/30/28 (c)		2,040			2,015,269
5.00%, 06/30/28 (c)		1,035			1,051,380
California Municipal Finance Authority, Northbay Healthcare Group, Series A (RB) 5.25%, 11/01/26 (c)		230			217,555
California Municipal Finance Authority, Palmdale Aerospace Academy, Series A (RB)
5.00%, 07/01/26 (c)		500			452,077
5.00%, 07/01/28 (c)		130			119,884
5.00%, 07/01/28 (c)		1,000			864,146
California Municipal Finance Authority, UCR Dundee- Glasgow Student Housing Project (RB) (BAM) 4.00%, 11/15/28 (c)		250			203,342
California Municipal Finance Authority, United Airlines, Inc., International Airport Project (RB) 4.00%, 07/15/29		12,500			11,608,954
California Pollution Control Financing Authority, Solid Waste Disposal, CalPlant I Project (RB)
7.00%, 07/01/22 (d) *		1,000			600,000
7.50%, 12/01/22 (c) (d) *		10,500			6,300,000
7.50%, 12/01/29 (c) (d) *		7,000			350,000
8.00%, 07/01/27 (c) (d) *		6,635			3,981,000
California Pollution Control Financing Authority, Solid Waste Disposal, CalPlant I Project (RB) (SAW) 7.50%, 07/01/32 (d) *		1,000			680,000

	Par (000’s		)		Value
California (continued)
California Public Finance Authority, Enso Village Project, Series A (RB)
5.00%, 11/15/29 (c)	$	1,000		$	878,322
5.00%, 11/15/29 (c)		1,000			809,478
5.00%, 06/01/27 (c)		400			346,140
California Public Finance Authority, NCCD-Claremont Properties LLC, Series A (RB)
5.00%, 07/01/27 (c)		1,000			699,454
5.00%, 07/01/27 (c)		300			223,080
5.00%, 07/01/27 (c)		485			379,989
5.00%, 07/01/27		110			92,632
California School Finance Authority, Charter School Facility, Grimmway School, Series A (RB) 5.00%, 07/01/26 (c)		2,000			1,933,965
California School Finance Authority, Charter School Ivy Academia, Series A (RB) 4.00%, 06/01/28 (c)		1,150			868,917
California School Finance Authority, Charter School, John Adams Academies, Series A (RB) 5.00%, 07/01/30 (c)		1,000			836,825
California School Finance Authority, Hawking Steam Charter School Project (RB) 5.50%, 07/01/29 (c)		1,000			882,460
California School Finance Authority, NCCD-Santa Rosa Properties LLC, Series A (RB)
4.00%, 11/01/31 (c)		1,000			652,939
4.00%, 11/01/31 (c)		2,700			1,710,618
California School Finance Authority, River Springs Charter School Project, Series A (RB)
5.00%, 07/01/27 (c)		1,000			827,418
6.38%, 07/01/25 (c)		2,000			2,160,959
California School Finance Authority, Rocketship Education, Series A (RB)
5.12%, 06/01/26 (c)		250			219,151
5.25%, 06/01/26 (c)		250			219,499
California Statewide Communities Development Authority, Baptist University, Series A (RB)
3.50%, 11/01/27		1,500			1,415,540
5.00%, 11/01/27 (c)		1,000			963,190
6.38%, 11/01/23 (c)		1,000			1,013,019
California Statewide Communities Development Authority, College Housing (RB) 5.25%, 07/01/29 (c)		250			203,619

	Par (000’s		)		Value
California (continued)
California Statewide Communities Development Authority, Daughters of Charity Health System, Series A (RB)
5.50%, 12/01/22 (c)	$	65		$	60,640
5.75%, 12/01/22 (c)		12			11,602
California Statewide Communities Development Authority, Daughters of Charity Health System, Series H (RB) 5.75%, 12/01/22 (c)		2			1,702
California Statewide Communities Development Authority, Irvine East Campus Armaments, CHF-Irvine, LLC (RB)
5.00%, 05/15/26 (c)		385			391,473
5.00%, 05/15/26 (c)		545			549,200
California Statewide Communities Development Authority, John Muir Health, Series A (RB) 5.00%, 12/01/27 (c)		2,305			2,299,814
California Statewide Communities Development Authority, Lancer Educational Student Housing Project, Series A (RB) 5.00%, 06/01/29 (c)		435			394,782
California Statewide Communities Development Authority, Lancer Plaza Project (RB) 5.62%, 11/01/23 (c)		75			75,047
California Statewide Communities Development Authority, Loma Linda University Medical Center, Series A (RB)
5.00%, 06/01/26 (c)		1,100			1,100,363
5.00%, 06/01/26 (c)		350			351,678
5.00%, 06/01/26 (c)		2,445			2,240,643
5.00%, 06/01/26 (c)		1,595			1,503,635
5.25%, 12/01/24 (c)		1,740			1,751,980
5.25%, 12/01/24 (c)		8,975			8,891,224
5.25%, 06/01/26 (c)		13,380			12,168,731
5.25%, 06/01/28 (c)		1,000			915,002
5.50%, 12/01/24 (c)		13,005			12,652,878
5.50%, 06/01/28 (c)		6,500			6,081,806
California Statewide Communities Development Authority, Provident Group Pomona Properties LLC, Series A (RB)
5.00%, 06/01/26 (c)		3,230			2,827,094
5.75%, 01/15/23 (c)		125			123,445

	Par (000’s		)		Value
California (continued)
California Statewide Communities Development Authority, University of California, Irvine East Campus Apartments (RB) 3.50%, 05/15/26 (c)	$	615		$	512,168
California Statewide Communities Development Authority, University of California, Irvine East Campus Apartments, Phase IV-A (RB) 5.00%, 05/15/27 (c)		3,170			2,974,080
California Statewide Financing Authority, Pooled Tobacco Securitization Program, Series B (RB) 6.00%, 12/01/22 (c)		3,175			3,228,889
California Statewide Financing Authority, Pooled Tobacco Securitization Program, Series C (RB) 6.00%, 12/01/22 (c)		900			915,273
City of Fontana, Community Facilities District No. 90 (ST) 4.00%, 09/01/28 (c)		500			387,674
City of Fremont, Community Facilities District No. 1 (ST) 5.00%, 09/01/25 (c)		250			250,108
City of Irvine, Community Facilities District No. 2013-3 (ST)
4.00%, 09/01/23 (c)		250			228,791
4.00%, 09/01/23 (c)		250			231,349
4.00%, 09/01/23 (c)		230			215,568
City of Irvine, Reassessment District No. 15-2 (SA) 5.00%, 09/02/25 (c)		750			750,247
City of Oroville Hospital (RB) 5.25%, 04/01/29 (c)		2,500			2,224,559
City of Rancho Cordova, Sunridge Anatolia community Facilities District No. 2003-1 (ST) 4.00%, 09/01/26 (c)		180			159,282
City of Rocklin, Community Facilities District No. 10 (ST) 5.00%, 09/01/25 (c)		810			814,728
City of Roseville, Fiddyment Ranch Community Facilities District No. 1 (ST)
3.75%, 09/01/27 (c)		500			421,371
5.00%, 09/01/27 (c)		130			131,337
5.00%, 09/01/27 (c)		155			157,208
City of Roseville, Fiddyment Ranch Community Facilities District No. 5 (ST) 5.00%, 09/01/27 (c)		2,000			1,937,116

	Par (000’s		)		Value
California (continued)
City of Roseville, Westpark Community Facility District No. 1 (ST) 5.00%, 09/01/25 (c)	$	200		$	202,055
City of San Clemente, Facilities District No. 2006-1 (ST) 5.00%, 09/01/25 (c)		1,045			1,045,453
CMFA Special Finance Agency I, Essential Housing, Series A-2 (RB) 4.00%, 04/01/31 (c)		6,000			4,224,547
CMFA Special Finance Agency VII, Essential Housing, Series A-2 (RB) 4.00%, 08/01/31 (c)		1,995			1,332,689
CMFA Special Finance Agency VIII, Essential Housing, Series A-1 (RB) 3.00%, 08/01/31 (c)		6,650			3,992,743
CMFA Special Finance Agency XII, Essential Housing, Series A-2 (RB) 4.38%, 02/01/32 (c)		1,000			695,439
CMFA Special Finance Agency, Essential Housing, Series A-1 (RB) 4.00%, 02/01/32 (c)		2,500			1,872,082
Compton Public Finance Authority (RB)
4.00%, 09/01/24 (c)		1,000			963,313
4.50%, 09/01/24 (c)		1,585			1,501,513
County of Los Angeles CA Community Facilities District No 2021-01 (ST) 5.00%, 09/01/29 (c)		1,000			918,032
CSCDA Community Improvement Authority, Atlanta-Glendale, Series A-1 (RB) 3.50%, 10/01/31 (c)		1,000			687,566
CSCDA Community Improvement Authority, Atlanta-Glendale, Series A-2 (RB) 4.00%, 10/01/31 (c)		7,750			5,346,422
CSCDA Community Improvement Authority, City Anaheim, Series A (RB) 5.00%, 01/01/31 (c)		11,800			9,675,219
CSCDA Community Improvement Authority, Essential Housing Mezzanine Lien, Series B (RB)
4.00%, 04/01/32 (c)		1,000			632,897
4.00%, 05/01/32 (c)		1,500			947,989

	Par (000’s		)		Value
California (continued)
CSCDA Community Improvement Authority, Essential Housing, The Link Glendale, Series A-1 (RB) 3.00%, 07/01/31 (c)	$	1,000		$	668,361
CSCDA Community Improvement Authority, Essential Housing, Westgate Phase, Series A-2 (RB) 3.12%, 06/01/31 (c)		3,000			1,807,871
CSCDA Community Improvement Authority, Link- Glendale, Series A-2 (RB) 4.00%, 07/01/31 (c)		5,350			3,694,309
CSCDA Community Improvement Authority, Millennium South Bay- Hawthorne, Series A-1 (RB) 3.25%, 07/01/32 (c)		2,000			1,198,346
CSCDA Community Improvement Authority, Monterey Station Apartments, Series A-1 (RB) 3.00%, 07/01/32 (c)		2,500			1,714,672
CSCDA Community Improvement Authority, Parallel-Anaheim, Series A (RB) 4.00%, 08/01/31 (c)		2,000			1,432,926
CSCDA Community Improvement Authority, Park Crossing Apartments, Series B (RB) 4.00%, 06/01/32 (c)		1,000			667,397
CSCDA Community Improvement Authority, Pasadena Portfolio, Series B (RB) 4.00%, 12/01/31 (c)		1,000			645,281
CSCDA Community Improvement Authority, Union South Bay, Series A-2 (RB) 4.00%, 07/01/31 (c)		8,200			5,741,078
CSCDA Community Improvement Authority, Vineyard Gardens Apartments, Series B (RB) 4.00%, 04/01/32 (c)		500			330,937
Dublin Community Facilities District No 2015-1 (ST)
5.00%, 09/01/26 (c)		500			500,768
5.00%, 09/01/26 (c)		500			508,220
5.00%, 09/01/26 (c)		500			495,788
5.00%, 09/01/27 (c)		485			459,429
5.00%, 09/01/27 (c)		1,150			1,153,036
Folsom Ranch Financing Authority (ST) 5.00%, 09/01/27 (c)		1,100			1,126,077

	Par (000’s		)		Value
California (continued)
5.00%, 09/01/27 (c)	$	2,000		$	2,026,712
5.00%, 09/01/27 (c)		1,000			976,713
Foothill/Eastern Transportation Corridor Agency, Toll Road Revenue, Series A (RB)
5.75%, 01/15/24 (c)		1,000			1,030,778
6.00%, 01/15/24 (c)		2,860			2,955,364
Foothill/Eastern Transportation Corridor Agency, Toll Road Revenue, Series B-1 (RB) 3.95%, 07/15/27 (c)		100			77,968
Foothill/Eastern Transportation Corridor Agency, Toll Road Revenue, Series B-2 (RB) 3.50%, 07/15/29 (c)		475			337,747
Foothill/Eastern Transportation Corridor Agency, Toll Road Revenue, Series C (RB) 6.50%, 01/15/24 (c)		1,000			1,038,593
Foothill/Eastern Transportation Corridor Agency, Toll Road, Series A (RB) 6.00%, 01/15/24 (c)		1,115			1,152,179
Hastings Campus Housing Finance Authority, Series A (RB)
5.00%, 07/01/30 (c)		1,850			1,523,085
5.00%, 07/01/30 (c)		1,000			766,029
Independent Cities Finance Authority, Mobil Home Park, Series A (RB) 3.75%, 10/15/26 (c)		250			174,329
Lake Elsinore Public Financing Authority, Local Agency (ST) 5.00%, 09/01/25 (c)		405			405,176
Lincoln Public Financing Authority, Twelve Bridges, Series B (SA) 6.00%, 12/01/22 (c)		37			37,075
Los Angeles Unified School District, Series C (GO) 5.00%, 07/01/24 (c)		1,600			1,645,420
MSR Energy Authority, Series A (RB) 6.12%, 11/01/29		485			522,973
Ontario International Airport Authority, Series A (RB) (AGM) 4.00%, 05/15/31 (c)		1,400			1,185,628
Orange County Community Facilities District No. 1, Series A (ST)
4.25%, 08/15/25 (c)		975			881,976
5.25%, 08/15/25 (c)		455			456,861
Palomar Health (RB) 5.00%, 11/01/26 (c)		250			253,510
Palomar Pomerado Health, Series A (GO) (NATL) 0.00%, 08/01/25 ^		125			111,516

	Par (000’s		)		Value
California (continued)
Perris Union High School District Financing Authority (ST) 5.00%, 03/01/25 (c)	$	1,000		$	1,000,309
Poway Unified School District Public Financing Authority, Series A (ST) 5.00%, 09/01/25 (c)		750			758,908
River Islands Public Financing Authority, Community Facilities District No. 2003-1, Series A-1 (ST) 5.00%, 09/01/26 (c)		500			495,701
River Islands Public Financing Authority, Phase 2 Public Improvements (ST) 5.00%, 09/01/26 (c)		750			740,304
Romoland School District No. 2004-1 (ST) 5.00%, 09/01/25 (c)		500			483,192
Sacramento County, Community Facilities District No. 2005-2 (ST)
5.00%, 09/01/26 (c)		495			485,221
5.00%, 09/01/26 (c)		345			345,205
San Diego County Regional Airport Authority, Series A (RB)
4.00%, 07/01/31 (c)		2,000			1,690,374
5.00%, 07/01/31 (c)		745			733,718
San Diego County Regional Airport Authority, Series B (RB) (AGM) 4.00%, 07/01/31 (c)		2,960			2,402,686
San Francisco City & County, International Airport, Series A (RB) (BAM-TCRS) 5.00%, 05/01/24 (c)		4,750			4,684,231
San Jacinto Unified School District Financing Authority (ST) 5.00%, 09/01/26 (c)		300			285,635
San Joaquin Hills Transportation Corridor Agency, Junior Lien Toll Road, Series A (RB) 5.00%, 01/15/25 (c)		500			519,416
San Joaquin Hills Transportation Corridor Agency, Junior Lien Toll Road, Series B (RB) 5.25%, 01/15/25 (c)		200			199,779
San Joaquin Hills Transportation Corridor Agency, Senior Lien Toll Road, Series A (RB) 4.00%, 01/15/32 (c)		2,000			1,651,043

	Par (000’s		)		Value
California (continued)
San Joaquin Hills Transportation Corridor Agency, Toll Road, Series A (RB) (NATL)
0.00%, 01/15/25 ^	$	1,000		$	910,942
0.00%, 01/15/32 ^		145			91,525
0.00%, 01/15/36 ^		105			51,972
Saugus Hart School Facilities Financing Authority, Community Facilities District No. 2006-1 (ST) 5.00%, 03/01/26 (c)		500			490,836
Thousand Oaks, California Community Facilities, District No. 1994-1 (ST) 5.38%, 03/01/23 (c)		1,035			1,038,155
Three Rivers Levee Improvement Authority. Community Facilities District Nos. 2006-1 and 2006-2, Series A (ST) 4.00%, 09/01/28 (c)		1,290			1,028,663
Tobacco Securitization Authority of Northern California (RB) 4.00%, 12/01/30 (c)		4,500			3,578,635
Tobacco Securitization Authority of Southern California, Series A (RB) 5.00%, 12/01/29 (c)		3,495			3,365,772
Tobacco Securitization Authority of Southern California, Series B (RB) 4.00%, 12/01/30 (c)		1,205			1,112,802
Tustin Community Facilities District, Series A (ST)
5.00%, 09/01/25 (c)		100			100,331
5.00%, 09/01/25 (c)		100			98,420
Val Verde Unified School District (ST) 5.00%, 03/01/25 (c)		750			753,938
Western Hills Water District, Diablo Grande Community Facilities District No. 1 (ST)
4.00%, 09/01/21 (d) *		850			382,500
5.30%, 03/01/23 (c) (d) *		530			238,500
William S. Hart Union High School District No. 2015-1 (ST) 5.00%, 09/01/26 (c)		445			441,939
					310,735,095
Colorado: 3.1%
Arista Metropolitan District in the City and County of Broomfield, Series A (GO) 5.00%, 12/01/23 (c)		500			454,596

	Par (000’s		)		Value
Colorado (continued)
Arkansas River Power Authority, Power Supply System, Series A (RB) 5.00%, 10/01/28 (c)	$	2,010		$	1,897,506
Base Village Metropolitan District No. 2, Series A (GO) 5.75%, 12/01/22 (c)		1,000			950,861
Brighton Crossing Metropolitan District No. 6, Series A (GO)
5.00%, 12/01/25 (c)		500			449,642
5.00%, 12/01/25 (c)		500			429,929
Broadway Station Metropolitan District No. 3, Series A (GO)
5.00%, 06/01/24 (c)		1,425			1,082,346
5.00%, 06/01/24 (c)		4			3,265
Centerra Metropolitan District No. 1 (TA)
5.00%, 12/01/22 (c)		500			454,853
5.00%, 12/01/22 (c)		500			425,199
5.00%, 12/01/22 (c)		500			483,066
City and County of Denver, United Airlines, Inc. Project (RB) 5.00%, 10/01/23 (c)		5,195			5,007,830
City of Fruita, Colorado Healthcare Canyons Hospital and Medical Center, Series B (RB) 5.50%, 01/01/28 (c)		4,250			3,705,931
City of Lakewood, Colorado Plaza Metropolitan District No. 1 (TA) 5.00%, 12/01/22 (c)		1,035			929,162
Colorado Crossing Metropolitan District No. 2, Series A-2 (GO) 5.00%, 12/01/25 (c)		3,000			2,387,456
Colorado Educational and Cultural Facilities Authority, Loveland Classical Schools Project, Thompson School District R2-J (RB) 5.00%, 07/01/26 (c)		1,000			844,358
Colorado Educational and Cultural Facilities Authority, Rocky Mountain Classical Academy Project (RB) 5.00%, 10/01/27 (c)		500			428,876
Colorado Health Facilities Authority, CommonSpirit Health, Series A-1 (RB)
4.00%, 08/01/29 (c)		510			436,383
5.00%, 08/01/29		1,000			1,037,582
Colorado Health Facilities Authority, CommonSpirit Health, Series A-2 (RB)
3.25%, 08/01/29 (c)		5			3,205
4.00%, 08/01/29 (c)		7,735			6,031,396
5.00%, 08/01/29 (c)		1,045			997,976

	Par (000’s		)		Value
Colorado (continued)
Colorado Health Facilities Authority, Senior Living Second Tier, American Eagle Portfolio Project Series B-1 (RB) 2.00%, 07/01/32 (c)	$	536		$	268,081
Colorado High Performance Transportation Enterprise, C-470 Express Lanes (RB)
5.00%, 12/31/24 (c)		250			233,726
5.00%, 12/31/24 (c)		350			330,460
Creekwalk Marketplace Business Improvement District, Series A (RB)
5.50%, 12/01/26 (c)		500			415,708
5.75%, 12/01/26 (c)		500			402,095
Crowfoot Valley Ranch Metropolitan District No. 2, Series A (GO) 5.62%, 12/01/23 (c)		1,000			946,733
Dominion Water and Sanitation District (RB) 5.88%, 12/01/28 (c)		1,000			896,252
Fountain Urban Renewal Authority, South Academy Highlands Project, Series A (TA)
4.50%, 11/01/25 (c)		840			758,587
5.25%, 11/01/25 (c)		2,345			2,110,431
5.50%, 11/01/25 (c)		1,865			1,644,369
Green Valley Ranch East Metropolitan District No. 6, Series A (GO) 5.88%, 09/01/25 (c)		1,000			862,497
Jefferson Center Metropolitan District No. 1, Series A-2 (RB) 4.38%, 12/01/23 (c)		1,000			784,112
Kinston Metropolitan District No. 5, Series A (GO) 5.12%, 12/01/25 (c)		2,000			1,623,372
Painted Prairie Public Improvement Authority (RB) 5.00%, 12/01/24 (c)		1,000			898,197
Peak Metropolitan District No. 1, El Paco County, Series A (GO) 4.00%, 03/01/26 (c)		540			439,210
Pueblo Urban Renewal Authority, Evraz Project, Series A (TA) 4.75%, 12/01/30 (c)		5,030			3,885,589
Puerto Rico Sales Tax Financing Corp., Series A-2 (RB) 3.62%, 06/01/26 (c)		1,000			681,092
Rampart Range Metropolitan District No. 5, Colorado Limited Tax Supported and Special Bonds (RB) 4.00%, 10/01/26 (c)		5,750			3,713,479

	Par (000’s		)		Value
Colorado (continued)
Regional Transportation District, Denver Transit Partners Eagle P3 Project, Series A (RB) 4.00%, 07/15/39	$	1,500		$	1,286,364
Regional Transportation District, Denver Transit Partners Eagle P3 Project, Series B (RB) 4.00%, 07/15/40		1,615			1,367,296
Rocky Mountain Rail Park Metropolitan District, Series A (GO)
5.00%, 03/01/26 (c)		1,000			806,696
5.00%, 03/01/26 (c)		6,850			5,072,367
Southglenn Metropolitan District (GO) 5.00%, 12/01/22 (c)		1,000			871,533
Southlands Metropolitan District No. 1, Series A-1 (GO) 5.00%, 12/01/27 (c)		1,200			1,039,770
Sterling Ranch Community Authority Board, Colorado Limited Tax, Series A (RB)
4.25%, 12/01/25 (c)		1,000			746,328
5.00%, 12/01/22 (c)		1,000			1,021,375
5.00%, 12/01/22 (c)		500			510,687
5.00%, 12/01/22 (c)		5,000			5,106,874
Transport Metropolitan District No. 3 (GO)
5.00%, 03/01/26 (c)		4,000			2,949,829
5.00%, 03/01/26 (c)		4,200			3,484,026
Velocity Metropolitan District No. 3 (GO)
5.12%, 12/01/23 (c)		500			472,196
5.38%, 12/01/23 (c)		1,500			1,399,481
Verve Metropolitan District No. 1 (GO) 5.00%, 03/01/26 (c)		1,025			952,371
Windler Public Improvement Authority, Series A-1 (RB) (BAM)
4.00%, 09/01/26 (c)		1,000			742,070
4.00%, 09/01/26 (c)		1,000			676,284
4.12%, 09/01/26 (c)		4,980			3,107,966
					80,948,921
Connecticut: 0.6%
Bridgeport Housing Authority, Energy Performance Equipment (RB) 5.60%, 11/14/22 (c)		630			603,212
Connecticut Airport Authority, Ground Transportation Center Project, Series A (RB) (AMBAC) 4.00%, 07/01/29 (c)		2,000			1,517,152

	Par (000’s		)		Value
Connecticut (continued)
Connecticut State Health and Educational Facilities Authority, Church Home of Harford, Series A (RB)
5.00%, 09/01/26 (c)	$	3,000		$	2,514,643
5.00%, 09/01/26 (c)		2,500			2,156,647
Connecticut State Health and Educational Facilities Authority, Griffin Hospital, Series G (RB)
5.00%, 07/01/29 (c)		2,630			2,162,198
5.00%, 07/01/29 (c)		1,100			929,904
Connecticut State Health and Educational Facilities Authority, Mary Wade Home Issue, Series A-1 (RB) 5.00%, 10/01/24 (c)		3,000			2,583,188
Connecticut State Health and Educational Facilities Authority, Masonicare Issue, Series F (RB) 4.00%, 07/01/26 (c)		1,000			913,022
Connecticut State Health and Educational Facilities Authority, McLean Issue, Series A (RB) 5.00%, 01/01/26 (c)		2,000			1,721,336
Connecticut State Health and Educational Facilities Authority, University of Hartford, Series N (RB) 4.00%, 07/01/29 (c)		250			186,065
Connecticut State Health and Educational Facilities Authority, University of Hartford, Series N (RB) (SD CRED PROG) 4.00%, 07/01/29 (c)		250			177,745
Connecticut State Health and Educational Facilities, Nuvance Health, Series A (RB) 4.00%, 07/01/29 (c)		500			418,370
					15,883,482
Delaware: 0.2%
County of Kent, Delaware Student Housing and Dinning Facility, State University Project, Series A (RB) 5.00%, 01/01/28 (c)		1,450			1,211,571
Delaware Economic Development Authority, Aspira Chapter School, Series A (RB)
4.00%, 06/01/32 (c)		915			646,481
5.00%, 06/01/26 (c)		1,000			886,126
5.00%, 06/01/26 (c)		250			237,222
Delaware River & Bay Authority (RB) 4.00%, 01/01/32 (c)		1,540			1,339,400

	Par (000’s		)		Value
Delaware (continued)
Delaware State Economic Development Authority (RB) 5.00%, 06/01/26 (c)	$	1,100		$	955,835
					5,276,635
District of Columbia: 0.7%
District of Columbia, Federal Highway Grant Anticipation (RB) (SAW) 5.00%, 12/01/29 (c)		1,975			2,144,461
District of Columbia, Ingleside at Rock Creek Project, Series A (RB)
5.00%, 07/01/24 (c)		250			230,809
5.00%, 07/01/24 (c)		1,180			998,897
District of Columbia, Latin American Montessori Bilingual Public Charter School Issue (RB)
5.00%, 06/01/30 (c)		500			461,955
5.00%, 06/01/30 (c)		2,500			2,195,199
District of Columbia, Rocketship Education Public Charter School, Series A (RB) 5.00%, 06/01/29 (c)		1,000			861,618
Metropolitan Washington Airports Authority, Dulles Toll Road, Series A (RB) 0.01%, 10/01/37		11,325			4,975,541
Metropolitan Washington Airports Authority, Dulles Toll Road, Series B (RB)
0.00%, 10/01/37 ^		2,020			927,690
4.00%, 10/01/29 (c)		250			225,668
4.00%, 10/01/29 (c)		7,315			6,122,440
6.50%, 10/01/28 (c)		245			266,054
					19,410,332
Florida: 4.7%
Aqua One Community Development District (SA) 5.75%, 05/01/28 (c)		940			907,080
Brevard County, Florida Health Facilities Authority, Series A (RB) 5.00%, 04/01/32 (c)		1,000			956,348
Broward County, Florida Port Facilities (RB) 5.50%, 09/01/32 (c)		2,985			3,065,940
Cape Coral Health Facilities Authority, Gulf Care, Inc. Project (RB) 6.00%, 07/01/25 (c)		295			255,260
Capital Trust Agency, Education Growth Fund, Series A-1 (RB) 5.00%, 07/01/31 (c)		7,200			6,019,429
Capital Trust Agency, Educational Facilities, Franklin Academy Projects (RB) 5.00%, 07/15/26 (c)		250			233,312

	Par
	(000’s		)	Value
Florida (continued)
Capital Trust Agency, Educational Facilities, Franklin Academy Projects (RB) (SD CRED PROG) 5.00%, 07/15/26 (c)	$	500		$	449,263
Capital Trust Agency, Educational Facilities, Pineapple Cove Classical Academy, Inc., Series A (RB)
4.50%, 01/01/29 (c)		500			474,523
5.12%, 01/01/29 (c)		500			453,289
5.25%, 01/01/29 (c)		500			433,140
5.38%, 01/01/29 (c)		500			434,396
Capital Trust Agency, Educational Facilities, Renaissance Charter School, Inc., Series A (RB)
4.38%, 06/15/27		300			286,969
5.25%, 06/15/27 (c)		500			438,112
Capital Trust Agency, University Bridge, LLC Student Housing Project, Series A (RB)
4.00%, 12/01/28		2,200			1,987,870
5.25%, 12/01/28 (c)		2,000			1,758,830
5.25%, 12/01/28 (c)		2,200			1,819,323
Capital Trust Agency, Wonderful Foundations Charter Schools Portfolio Projects, Series A (RB)
5.00%, 01/01/31 (c)		1,850			1,303,714
5.00%, 07/01/30 (c)		2,250			1,592,615
Central Florida Expressway Authority, Senior Lien (RB) (BAM) 5.00%, 07/01/27 (c)		1,745			1,784,565
City of Orlando, Tourist Development Tax, Series A (RB) (AGM)
5.00%, 11/01/27 (c)		2,500			2,645,039
5.00%, 11/01/27 (c)		3,000			3,181,887
5.00%, 11/01/27 (c)		500			520,628
5.00%, 11/01/27		1,100			1,176,769
City of Tallahassee, Health Facilities Authority, Memorial Healthcare, Inc. Project (RB)
4.00%, 06/01/25 (c)		230			198,558
5.00%, 06/01/25 (c)		300			284,913
5.00%, 06/01/25 (c)		1,210			1,172,057
Collier County Industrial Development Authority, Arlington of Naples Project, Series A (RB)
7.00%, 05/15/24 (d) *		590			377,600
8.12%, 05/15/24 (c) (d) *		460			294,400
Escambia County Health Facilities Authority, Baptist Health Care Corp. Obligated Group, Series A (RB) (SAW) 5.00%, 02/15/30 (c)		2,650			2,626,280

	Par
	(000’s		)	Value
Florida (continued)
Florida Development Finance Corp., Central Charter School Project (RB) 5.88%, 08/01/32 (c)	$	1,000		$	853,280
Florida Development Finance Corp., Educational Facilities, Mater Academy Project, Series A (RB) 5.00%, 06/15/27 (c)		2,225			2,018,189
Florida Development Finance Corp., Glenridge on Palmer Ranch Project (RB) 5.00%, 06/01/28 (c)		425			370,761
Florida Development Finance Corp., Mayflower Retirement Community Project, Series A (RB)
4.00%, 06/01/28 (c)		1,600			1,179,017
4.00%, 06/01/28 (c)		1,250			805,058
5.25%, 06/01/27 (c)		1,000			863,399
Florida Development Finance Corp., Renaissance Charter School, Inc. Project, Series A (RB)
5.75%, 06/15/24 (c)		1,000			1,011,930
6.00%, 06/15/25 (c)		500			507,566
6.12%, 06/15/25 (c)		685			693,099
Florida Development Finance Corp., Renaissance Charter School, Inc. Project, Series C (RB) 5.00%, 09/15/27 (c)		1,000			894,240
Florida Development Finance Corp., UF Health Jacksonville Project, Series A (RB) 5.00%, 02/01/32 (c)		3,700			3,152,123
Florida Development Finance Corp., Virgin Trains USA Passenger Rail Project, Series A (RB)
6.25%, 01/01/24 (c) (p)		6,000			5,714,735
6.38%, 01/01/26 (c) (p)		9,695			8,736,698
6.50%, 01/01/29 (c) (p)		9,750			8,590,822
FRERC Community Development District (SA) (AGM)
5.38%, 11/01/29 (c)		1,500			1,384,530
5.50%, 11/01/29 (c)		2,450			2,203,488
Hillsborough County Industrial Development Authority, Tampa General Hospital Project, Series A (RB) 4.00%, 02/01/31 (c)		6,500			5,156,505
Lake County, Florida Retirement Facility, Lakeside at Waterman Village Project, Series B (RB) 4.25%, 12/01/22 (c)		2,800			2,610,671

	Par
	(000’s		)	Value
Florida (continued)
Lee County Industrial Development Authority, Community Charter Schools, LLC Projects, Series A (RB) 5.75%, 12/01/22 (c)	$	500		$	485,660
Lee County Industrial Development Authority, Cypress Cove at HealthPark Florida, Inc. Project, Series A (RB) 5.25%, 10/01/29 (c)		1,000			818,897
Lee County Industrial Development Authority, Shell Point/Alliance Obligated Group, Shell Point/Waterside Health Project (RB) 5.00%, 11/15/26 (c)		2,500			2,387,488
Lee County, Florida Airport, Series A (RB) 5.00%, 10/01/25		1,000			1,024,138
Miami Beach Health Facilities Authority, Mount Sinai Medical Center (RB) 5.00%, 11/15/24 (c)		380			372,121
Miami World Center Community Development District (SA)
5.12%, 11/01/27 (c)		750			720,717
5.25%, 11/01/27 (c)		250			234,011
Miami-Dade County Health Facilities Authority Hospital, Nicklaus Children’s Hospital Project, Series A (RB) 4.00%, 08/01/31 (c)		1,000			800,422
Miami-Dade County Industrial Development Authority (RB) 5.50%, 07/01/29 (c)		1,000			820,828
Miami-Date County, Florida Subordinate Special (RB) 5.00%, 10/01/26 (c)		1,360			1,423,402
Mid-Bay Bridge Authority, First Senior Lien, Series A (RB)
5.00%, 10/01/25 (c)		500			500,782
5.00%, 10/01/25 (c)		1,500			1,470,249
Mid-Bay Bridge Authority, Second Senior Lien, Series C (RB) 5.00%, 10/01/25 (c)		1,000			967,689
Midtown Miami Community Development District, Parking Garage Project, Series A (SA)
4.25%, 05/01/23 (c)		705			701,068
5.00%, 05/01/23 (c)		4,135			3,978,806
North Broward Hospital District, Series B (RB) 5.00%, 01/01/28 (c)		155			156,389
North Miami Beach Florida Water, Series A (RB) (SAW) 5.00%, 08/01/30 (c)		1,000			1,039,812

	Par
	(000’s		)	Value
Florida (continued)
Northern Palm Beach County Improvement District, Unit of Development No. 2C (RB)
5.00%, 08/01/27 (c)	$	200		$	192,708
5.00%, 08/01/27 (c)		200			183,695
Orange County Health Facilities Authority, Orlando Health Obligated Group (RB) 4.00%, 04/01/32 (c)		2,800			2,179,279
Osceola County, Florida Transportation Improvement, Refunding Bonds, Series A (RB)
0.00%, 10/01/29 (c) ^		1,250			425,213
0.00%, 10/01/29 (c) ^		3,905			1,239,340
Palm Beach County, Palm Beach Atlantic University Housing Project, Series A (RB)
5.00%, 04/01/29 (c)		1,000			872,777
5.00%, 04/01/29 (c)		2,500			2,016,643
Palm Cost Park Community Development District (SA) 5.70%, 12/01/22 (c)		170			170,026
Polk Country Industrial Development Authority, Florida Industrial Development (RB) 5.88%, 01/01/33		5,000			4,867,315
Seminole County Industrial Development Authority, Retirement Facility, Legacy Pointe at UCF Project, Series A (RB) 5.50%, 11/15/26 (c)		500			399,368
Seminole County Industrial Development Authority, Retirement Facility, Legacy Pointe at UCF Project, Series B-1 (RB) 4.25%, 12/01/22 (c)		2,600			2,376,171
Village Community Development District No. 12 (SA)
3.25%, 05/01/26		195			186,578
3.62%, 05/01/26 (c)		2,340			2,142,009
3.88%, 05/01/26 (c)		2,395			1,914,459
4.25%, 05/01/28 (c)		925			786,115
Village Community Development District No. 12 (SA) (SAW) 4.38%, 05/01/28 (c)		10			8,206
Village Community Development District No. 13 (SA)
3.00%, 05/01/29		725			619,941
3.38%, 05/01/29 (c)		970			772,501
3.55%, 05/01/29 (c)		2,795			2,088,891

	Par
	(000’s		)	Value
Florida (continued)
Village Community Development District No. 13 (SA) (SBG) 3.70%, 05/01/29 (c)	$	30		$	20,351
					125,242,285
Georgia: 1.1%
Burke County Development Authority, Series C (RB) (SAW) 4.12%, 02/01/28 (c)		1,000			805,300
Burke County Development Authority, Series D (RB) 4.12%, 02/01/28 (c)		2,000			1,610,599
DeKalb County Housing Authority, Baptist Retirement Communities of Georgia, Inc. and Clairmont Crest, Inc., Series A (RB) 5.00%, 01/01/29 (c)		1,000			704,238
Floyd County Development Authority, Spires at Berry College Project, Series A (RB) (SBG) 5.50%, 12/01/24 (c)		1,250			1,178,385
Gainesville and Hall County Development Authority, Educational Facilities, Riverside Military Academy, Inc. Project (RB) (BAM) 5.00%, 03/01/27 (c)		700			501,410
George L Smith II World Congress Center Authority, Series A (RB) 4.00%, 01/01/31 (c)		2,250			1,696,806
Georgia Local Government, Grantor Trust, Series A (CP) (NATL) 4.75%, 06/01/28		416			424,599
Macon-Bibb County Urban Development Authority, Academy for Classical Education, Inc., Series A (RB) 5.75%, 06/15/27 (c)		250			242,064
Main Street Natural Gas, Inc., Series C (RB)
4.00%, 11/01/27 (c) (p)		7,000			6,467,510
5.00%, 05/15/49		2,405			2,213,854
Marietta Development Authority, Life University, Inc. Project, Series A (RB)
5.00%, 11/01/27 (c)		5,000			4,645,512
5.00%, 11/01/27 (c)		1,000			872,521
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 and 4, Series A (RB) 5.00%, 07/01/25 (c)		375			346,184
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 and 4, Series B (RB) 5.00%, 07/01/28 (c)		4,500			4,039,488

	Par
	(000’s		)	Value
Georgia (continued)
Municipal Electric Authority of Georgia, Series A (RB) (BAM-TCRS) 4.00%, 01/01/32 (c)	$	2,900		$	2,412,418
White County Development Authority, Truett McConnell University Project, Series A (RB)
5.12%, 10/01/26 (c)		500			416,464
5.25%, 10/01/26 (c)		500			393,085
					28,970,437
Guam: 0.8%
Guam Government, Business Privilege Tax, Series D (RB)
4.00%, 11/15/25 (c)		600			465,104
5.00%, 11/15/25 (c)		1,040			1,000,436
5.00%, 11/15/25 (c)		1,085			1,007,953
5.00%, 11/15/25 (c)		4,500			4,380,426
5.00%, 11/15/25 (c)		1,100			1,051,871
Guam Government, Business Privilege Tax, Series F (RB) 4.00%, 01/01/31 (c)		4,000			3,144,096
Guam Government, Department of Education, John F. Kennedy High School Refunding and Energy Efficiency Project, Series A (CP)
4.25%, 02/01/30		500			457,548
5.00%, 02/01/30 (c)		500			448,460
Guam Government, Hotel Occupancy Tax, Series A (RB) 5.00%, 11/01/30		750			746,138
Guam Government, Limited Obligation, Series A (RB) 5.00%, 12/01/26 (c)		3,120			2,764,473
Guam Government, Waterworks Authority, Water and Wastewater System (RB) 5.00%, 07/01/26 (c)		1,375			1,336,103
Guam Government, Waterworks Authority, Water and Wastewater System, Series A (RB) 5.00%, 07/01/30 (c)		3,205			3,042,435
Guam Power Authority, Series A (RB) 5.00%, 10/01/27 (c)		500			501,473
					20,346,516
Hawaii: 0.4%
Hawaii State Department Budget and Finance Special Purpose Revenue, Series B (RB) 4.00%, 03/01/27 (c)		5,000			4,395,856
Kuakini, Hawaii Health System, Series A (RB) 6.38%, 12/01/22 (c)		1,775			1,608,276

	Par
	(000’s		)	Value
Hawaii (continued)
State of Hawaii, Department of Budget and Finance, Series A (RB)
6.25%, 07/01/23 (c)	$	1,400		$	1,403,908
6.62%, 07/01/23 (c)		2,085			2,092,461
					9,500,501
Idaho: 0.1%
Idaho Health Facilities Authority, Madison Memorial Hospital Project (RB)
3.50%, 09/01/26 (c)		450			362,120
5.00%, 09/01/26 (c)		1,135			1,084,743
Idaho Health Facilities Authority, St. Luke’s Health System Project, Series A (RB) 5.00%, 03/01/24 (c)		1,435			1,424,690
Idaho Health Facilities Authority, Terraces of Boise, Series A (RB) 3.80%, 10/01/28 (c)		100			83,324
					2,954,877
Illinois: 13.6%
Board of Education of the City of Chicago, Series H (GO) 5.00%, 12/01/27 (c)		2,000			1,876,242
Chicago Board of Education, Series A (GO)
4.00%, 12/01/31 (c)		10,000			7,405,361
4.00%, 12/01/31 (c)		4,975			3,826,697
5.00%, 12/01/22 (c)		15,055			13,356,081
5.00%, 12/01/28 (c)		1,265			1,234,928
5.00%, 12/01/28 (c)		250			239,255
5.00%, 12/01/29		1,000			981,902
5.00%, 12/01/29 (c)		1,195			1,168,157
5.00%, 12/01/30 (c)		5,000			4,541,103
5.00%, 12/01/30 (c)		7,240			6,687,475
5.00%, 12/01/30 (c)		4,100			3,924,159
5.00%, 12/01/30 (c)		5,575			5,380,681
5.00%, 12/01/30 (c)		395			374,088
5.00%, 12/01/30 (c)		1,610			1,476,691
5.00%, 12/01/30 (c)		100			93,602
5.00%, 12/01/30 (c)		5,950			5,430,134
5.00%, 12/01/30 (c)		7,850			7,083,809
5.00%, 12/01/30 (c)		4,300			3,860,139
5.00%, 12/01/31 (c)		8,000			6,905,318
7.00%, 12/01/25 (c)		14,210			14,845,257
7.00%, 12/01/25 (c)		5,200			5,526,771
7.00%, 12/01/27 (c)		2,250			2,389,577
Chicago Board of Education, Series A (GO) (AGM)
5.00%, 12/01/23		300			304,198
5.00%, 12/01/25		1,000			1,023,611
5.00%, 12/01/28 (c)		250			251,347
Chicago Board of Education, Series A (GO) (AMBAC)
5.50%, 12/01/25		145			149,821
5.50%, 12/01/26		175			182,369
5.50%, 12/01/30		2,500			2,673,787

	Par
	(000’s		)	Value
Illinois (continued)
Chicago Board of Education, Series A (GO) (NATL)
0.01%, 12/01/27	$	760		$	596,403
0.01%, 12/01/28		390			290,070
0.01%, 12/01/30		55			36,627
5.50%, 12/01/26		355			367,689
Chicago Board of Education, Series B (GO)
4.00%, 12/01/22 (c)		150			126,652
4.00%, 12/01/31 (c)		5,000			4,050,484
4.00%, 12/01/31 (c)		4,130			3,253,791
4.00%, 12/01/31 (c)		5,000			3,994,549
5.00%, 12/01/22 (c)		3,235			3,066,188
5.00%, 12/01/22 (c)		1,105			1,059,822
5.00%, 12/01/27		1,500			1,483,489
5.00%, 12/01/29 (c)		200			190,944
5.00%, 12/01/30 (c)		3,600			3,498,954
6.50%, 12/01/26 (c)		1,100			1,136,436
Chicago Board of Education, Series C (GO)
5.00%, 12/01/23		500			502,306
5.00%, 12/01/27 (c)		2,625			2,490,155
5.00%, 12/01/27		2,000			1,977,986
5.25%, 12/01/24 (c)		3,485			3,339,143
5.25%, 12/01/24 (c)		4,430			4,106,804
6.00%, 12/01/24 (c)		1,160			1,184,830
Chicago Board of Education, Series D (GO) (AGM) 5.00%, 12/01/28 (c)		7,500			6,532,379
Chicago Board of Education, Series E (GO) 5.12%, 12/01/24 (c)		2,415			2,352,037
Chicago Board of Education, Series G (GO)
5.00%, 12/01/27 (c)		3,600			3,416,083
5.00%, 12/01/27 (c)		3,000			2,642,056
Chicago Board of Education, Series H (GO) 5.00%, 12/01/27 (c)		5,080			4,431,170
Chicago Midway International Airport, Series A (RB) 5.00%, 01/01/24 (c)		2,500			2,522,091
Chicago Midway International Airport, Series A (RB) (AGM) 5.00%, 01/01/24 (c)		4,000			4,011,291
Chicago O'Hare International Airport (RB)
5.50%, 01/01/23 (c)		400			401,000
5.75%, 01/01/23 (c)		8,915			8,923,412
5.75%, 01/01/23 (c)		1,585			1,586,686
Chicago O'Hare International Airport, Series B (RB) 4.00%, 12/01/22 (c)		1,500			1,449,781
Chicago School Reform Board of Trustees, Series A (GO) (NATL)
0.01%, 12/01/23		300			286,416
0.01%, 12/01/25		355			308,461
0.01%, 12/01/29		1,460			1,029,295

	Par
	(000’s		)	Value
Illinois (continued)
Chicago School Reform Board of Trustees, Series B-1 (GO) (NATL)
0.00%, 12/01/28 ^	$	690		$	513,201
0.00%, 12/01/29 ^		645			454,722
0.01%, 12/01/24		1,165			1,062,031
0.01%, 12/01/25		1,650			1,433,691
0.01%, 12/01/26		1,630			1,346,845
0.01%, 12/01/27		1,030			808,283
0.01%, 12/01/31		520			325,793
Chicago Transit Authority, Federal Transit Administration Section 5307 Urbanized Area Formula (RB)
5.00%, 06/01/26		100			102,521
5.00%, 06/01/29		1,000			1,040,466
City of Chicago, City Colleges (GO) (NATL)
0.00%, 01/01/30 ^		420			300,847
0.01%, 01/01/28		345			273,890
0.01%, 01/01/33		985			589,880
0.01%, 01/01/34		760			431,531
City of Chicago, Neighborhoods Alive 21 Program, Series B (GO) 5.00%, 01/01/25		235			235,879
City of Chicago, Series A (GO)
5.00%, 01/01/27		200			199,861
5.00%, 01/01/27		1,000			999,305
5.00%, 01/01/31 (c)		3,000			2,849,453
5.00%, 01/01/31 (c)		3,000			2,876,125
6.00%, 01/01/27 (c)		5,000			5,094,054
City of Chicago, Series A (GO) (NATL) 0.00%, 01/01/29 ^		140			105,650
City of Chicago, Series A (GO) (SAW) 5.00%, 01/01/29		2,775			2,756,724
City of Chicago, Series B (GO) 5.25%, 01/01/25 (c)		2,195			2,198,582
City of Chicago, Series C (GO)
0.00%, 01/01/32 ^		195			121,925
5.00%, 01/01/24		1,110			1,113,890
5.00%, 01/01/25		1,760			1,766,967
5.00%, 01/01/26 (c)		250			249,596
5.00%, 01/01/26		380			380,778
City of Chicago, Series D (GO) 5.50%, 01/01/25 (c)		5,000			4,885,650
City of Chicago, Water Revenue, Second Lien (RB) (AMBAC) 5.75%, 11/01/30		1,020			1,069,250
City of Harvey, Series A (GO)
5.50%, 12/01/22 (c) (d) *		465			426,056
5.62%, 12/01/22 (c) (d) *		3,600			3,298,500
Cook County, Illinois, Series B (GO) 4.00%, 11/15/26		1,200			1,198,828

	Par
	(000’s		)	Value
Illinois (continued)
Illinois Finance Authority Health Services Facility, University of Illinois Health Services (RB) 4.00%, 10/01/30 (c)	$	3,000		$	2,302,457
Illinois Finance Authority, Acero Charter Schools, Inc. (RB) 4.00%, 10/01/31 (c)		1,000			754,154
Illinois Finance Authority, Admiral Lake Project (RB)
5.00%, 05/15/24 (c)		1,120			896,068
5.12%, 05/15/24 (c)		390			290,982
Illinois Finance Authority, Central Baptist Village (RB) 5.38%, 12/01/22 (c)		35			32,934
Illinois Finance Authority, CHF - Cook, LLC - Northeastern Illinois University Project, Series A (RB) 5.00%, 07/01/25 (c)		1,000			887,177
Illinois Finance Authority, Christian Homes, Inc. (RB) 5.00%, 05/15/26 (c)		1,875			1,728,713
Illinois Finance Authority, Franciscan Communities, Inc., Series A (RB)
4.75%, 05/15/23 (c)		615			574,734
5.12%, 05/15/23 (c)		230			205,915
5.25%, 05/15/23 (c)		750			675,548
Illinois Finance Authority, Friendship Village of Schaumburg (RB)
5.00%, 02/15/27 (d) *		3,000			1,470,000
5.00%, 02/15/27 (c) (d) *		6,500			3,185,000
5.12%, 02/15/27 (c) (d) *		6,130			3,003,700
Illinois Finance Authority, Greenfields of Geneva Project (RB) 7.10%, 11/01/27 (c)		100			85,251
Illinois Finance Authority, Intrinsic School Project, Series A (RB) 6.00%, 12/01/25 (c)		500			508,383
Illinois Finance Authority, Lutheran Life Communities Obligated Group, Series A (RB)
5.00%, 11/01/26 (c)		500			470,135
5.00%, 11/01/26 (c)		250			231,604
5.00%, 11/01/26 (c)		5			4,352
Illinois Finance Authority, Mercy Health Corp. (RB) 5.00%, 06/01/26 (c)		3,000			2,819,558
Illinois Finance Authority, Roosevelt University (RB) 5.50%, 12/01/22 (c)		475			446,367
Illinois Finance Authority, Silver Cross Hospital and Medical Center, Series C (RB) 5.00%, 08/15/25 (c)		5,000			4,849,853

	Par
	(000’s		)	Value
Illinois (continued)
Illinois Sports Facilities Authority (RB)
5.00%, 06/15/28	$	1,000		$	988,480
5.00%, 06/15/29		1,000			984,381
5.00%, 06/15/29 (c)		3,055			2,994,956
5.00%, 06/15/30		1,000			977,045
Illinois Sports Facilities Authority (RB) (AGM) 5.00%, 06/15/24 (c)		1,000			1,015,184
Illinois Sports Facilities Authority (RB) (AMBAC) 0.00%, 06/15/26 ^		690			589,572
Illinois State, Series A (GO)
5.00%, 12/01/27 (c)		1,500			1,492,370
5.00%, 05/01/28 (c)		500			460,015
Metropolitan Pier and Exposition Authority, McCormick Place Expansion Project, Series A (RB)
0.00%, 12/15/31 (c) ^		1,125			509,865
0.00%, 12/15/31 (c) ^		1,025			479,316
0.00%, 12/15/31 (c) ^		1,175			513,992
3.00%, 12/15/24 (c)		2,000			1,921,117
4.00%, 12/15/31 (c)		75			60,835
5.00%, 12/15/27 (c)		935			846,932
5.50%, 12/15/25 (c)		1,400			1,379,511
Metropolitan Pier and Exposition Authority, McCormick Place Expansion Project, Series A (RB) (NATL)
0.00%, 12/15/34 ^		590			306,881
0.00%, 06/15/29 ^		840			609,780
0.00%, 06/15/31 ^		125			81,090
0.00%, 06/15/34 ^		190			102,143
0.00%, 06/15/39 ^		115			44,649
0.01%, 12/15/30		475			317,635
0.01%, 06/15/30		745			512,421
Metropolitan Pier and Exposition Authority, McCormick Place Expansion Project, Series B (RB) (NATL) 0.00%, 06/15/28 ^		1,080			826,883
Northeastern Illinois University, Capital Improvement Project (CP) 4.00%, 12/01/22 (c)		585			445,613
Southwestern Illinois Development Authority (RB) 5.35%, 12/01/22 (c)		230			130,171
Southwestern Illinois Development Authority, United States Steel Corp. Project (RB) 5.75%, 12/01/22 (c)		2,000			1,926,720
State of Illinois (GO)
3.50%, 06/01/26 (c)		935			858,478
3.50%, 06/01/26 (c)		175			156,489
4.00%, 01/01/26 (c)		500			466,537
4.00%, 12/01/22 (c)		150			147,390

	Par
	(000’s		)	Value
Illinois (continued)
4.00%, 05/01/24	$	660		$	656,350
4.00%, 06/01/26 (c)		460			389,067
4.00%, 06/01/26 (c)		360			315,783
4.00%, 06/01/26 (c)		1,720			1,554,171
4.00%, 06/01/26 (c)		3,000			2,673,528
4.00%, 06/01/26 (c)		270			233,638
4.12%, 11/01/26 (c)		600			552,192
4.12%, 12/01/22 (c)		160			154,017
5.00%, 11/01/24		200			201,776
5.00%, 12/01/24		820			827,054
5.00%, 02/01/24 (c)		350			350,728
5.00%, 02/01/24 (c)		375			376,140
5.00%, 02/01/26		2,750			2,771,085
5.00%, 02/01/27		500			503,382
5.00%, 03/01/28		805			807,559
5.00%, 03/01/31 (c)		1,000			964,553
5.00%, 04/01/24 (c)		1,470			1,470,531
5.00%, 05/01/24 (c)		2,005			2,006,856
5.00%, 05/01/24 (c)		175			171,491
5.00%, 05/01/24 (c)		1,025			1,027,193
5.00%, 05/01/24 (c)		100			97,249
5.00%, 05/01/24 (c)		2,390			2,267,812
5.00%, 05/01/24 (c)		275			275,233
5.00%, 06/01/26 (c)		1,040			1,041,982
5.00%, 06/01/26		125			125,931
5.00%, 06/01/26 (c)		800			803,608
5.25%, 02/01/24 (c)		5,000			5,016,568
5.25%, 07/01/23 (c)		290			290,374
5.25%, 07/01/23 (c)		510			510,872
5.25%, 07/01/23 (c)		550			551,044
5.50%, 07/01/23 (c)		560			560,514
5.50%, 07/01/23 (c)		1,165			1,171,168
6.00%, 05/01/25		500			515,741
6.00%, 05/01/26		880			914,630
State of Illinois (GO) (AGC)
5.50%, 05/01/30		1,500			1,547,170
5.75%, 05/01/30 (c)		3,710			3,721,579
State of Illinois (RB) 3.00%, 06/15/26 (c)		100			86,527
State of Illinois, Series A (GO)
4.00%, 12/01/22 (c)		100			94,127
5.00%, 10/01/28 (c)		7,500			7,391,820
5.00%, 10/01/28		500			501,120
5.00%, 12/01/27 (c)		100			97,428
5.00%, 03/01/30		2,740			2,741,809
5.00%, 03/01/31 (c)		775			766,155
5.00%, 04/01/23 (c)		110			105,438
5.00%, 05/01/28 (c)		365			338,947
5.00%, 05/01/28 (c)		270			253,518
5.00%, 05/01/28 (c)		1,000			969,060
State of Illinois, Series C (GO) 5.00%, 11/01/27 (c)		13,425			13,436,669
State of Illinois, Series D (GO)
3.25%, 11/01/26		1,755			1,657,425
5.00%, 11/01/23		1,270			1,280,173
5.00%, 11/01/25		1,920			1,935,388
5.00%, 11/01/26		7,715			7,770,478
5.00%, 11/01/27 (c)		9,700			9,716,972

	Par
	(000’s		)	Value
Illinois (continued)
5.00%, 11/01/27	$	6,000		$	6,023,611
Village of Bolingbrook, Special Service Area No. 1 (ST) 5.25%, 03/01/28 (c)		500			431,774
Village of Bridgeview (GO) 5.00%, 12/01/22 (c)		360			306,900
Will County Community High School District No. 210, Series B (GO)
0.00%, 01/01/29 ^		90			68,700
0.00%, 01/01/31 ^		245			168,997
0.00%, 01/01/33 ^		540			328,427
					361,808,182
Indiana: 0.6%
City of Anderson, Indiana Economic Development, Anderson University (RB) 4.75%, 12/01/22 (c)		215			197,256
Indiana Finance Authority Educational Facilities, Earlham College Project, Series A (RB) 5.00%, 10/01/23 (c)		150			150,352
Indiana Finance Authority, Baptist Healthcare System, Series A (RB) 5.00%, 08/15/27 (c)		4,000			3,878,226
Indiana Finance Authority, Deaconess Health System, Series A (RB) 5.00%, 09/01/26 (c)		1,000			1,058,182
Indiana Finance Authority, Ohio Valley Electric Corp. Project, Series A (RB) 4.25%, 11/01/30		1,000			929,855
Indiana Finance Authority, Ohio Valley Electric Corp. Project, Series B (RB) 3.00%, 11/01/30		3,500			2,972,727
Indiana Finance Authority, United States Steel Corp. Project, Series A (RB) 4.12%, 12/01/26		5,500			5,267,374
Valparaiso, Indiana Exempt Facilities, Pratt Paper, LLC Project (RB) 5.88%, 01/01/24		300			303,329
					14,757,301
Iowa: 1.0%
City of Coralville, Marriott Hotel and Convention Center, Series E (CP) 4.00%, 06/01/24 (c)		1,025			972,660
Iowa Finance Authority, Lifespace Communities, Inc., Series A (RB)
5.00%, 11/15/26 (c)		3,365			2,739,189
5.00%, 05/15/27 (c)		2,770			2,317,335
5.00%, 05/15/27 (c)		655			563,029

	Par
	(000’s		)	Value
Iowa (continued)
Iowa Finance Authority, Midwestern Disaster Area, Alcoa Inc. Project (RB) 4.75%, 12/01/22 (c)	$	7,025		$	6,111,639
Iowa Finance Authority, Midwestern Disaster Area, Iowa Fertilizer Co. Project, Series A (RB) 5.00%, 12/01/42 (c) (p)		7,500			6,687,204
Iowa Higher Education Loan Authority, Wartburg College Project (RB)
4.00%, 10/01/25		1,660			1,602,315
5.00%, 10/01/25 (c)		990			923,082
5.00%, 10/01/25 (c)		2,115			1,882,114
Iowa Tobacco Settlement Authority, Series B-1 (RB) 4.00%, 06/01/31 (c)		2,500			2,284,081
					26,082,648
Kansas: 0.5%
City of Hutchinson, Regional Medical Center, Inc. (RB) 5.00%, 12/01/26 (c)		250			224,255
City of Lenexa, Kansas Health Care Facility, Lakeview Village, Inc., Series A (RB) 5.00%, 05/15/27 (c)		1,000			909,140
City of Manhattan, Kansas Health Care Facilities Authority, Meadowlark Hills Retirement Community, Series A (RB) 4.00%, 06/01/28 (c)		2,000			1,427,329
City of Manhattan, Kansas Sales Tax, Downtown Redevelopment Star Project Area (RB) 4.00%, 06/01/25 (c)		1,000			977,955
City of Wichita, Health Care Facilities, Series III (RB) 5.00%, 05/15/26 (c)		250			222,309
Kansas Development Finance Authority, Village Shalom Project, Series A (RB) (AGC) 5.25%, 11/15/23 (c)		1,000			687,181
Wyandotte County, Kansas City Unified Government, Legends Apartments Garage and West Lawn Project (RB) 4.50%, 12/01/26 (c)		810			690,473
Wyandotte County, Kansas City Unified Government, Vacation Village Project Area 1 and 2A, Series A (RB)
5.00%, 09/01/25 (c)		315			289,400
5.75%, 09/01/25 (c)		4,565			4,004,243
6.00%, 09/01/25 (c)		2,125			1,851,186

	Par
	(000’s		)	Value
Kansas (continued)
Wyandotte County, Kansas City Unified Government, Vacation Village Project Area 4 (RB) 0.00%, 09/01/34 ^	$	7,500		$	2,137,108
					13,420,579
Kentucky: 0.6%
Christian County, Jennie Stuart Medical Center (RB) 5.38%, 02/01/26 (c)		100			100,777
Kentucky Economic Development Finance Authority, Louisville Arena Authority, Inc., Series A (RB) (AGM) 5.00%, 12/01/22 (c)		1,600			1,521,616
Kentucky Economic Development Finance Authority, Louisville Arena Project, Series A (RB) (AGM) 5.00%, 12/01/27 (c)		4,655			4,447,670
Kentucky Economic Development Finance Authority, Masonic Home Independent Living II, Inc., Series A (RB)
5.00%, 05/15/26 (c)		250			196,553
5.00%, 05/15/26 (c)		545			498,079
5.00%, 05/15/26 (c)		350			302,177
Kentucky Economic Development Finance Authority, Masonic Homes of Kentucky, Inc. (RB)
5.38%, 11/21/22 (c)		400			359,010
5.50%, 11/21/22 (c)		250			202,297
Kentucky Economic Development Finance Authority, Next Generation Kentucky Information Highway Project, Series A (RB) 4.25%, 07/01/25 (c)		3,365			3,048,453
Kentucky Economic Development Finance Authority, Owensboro Health System, Inc., Series A (RB)
5.00%, 06/01/26		175			180,409
5.00%, 06/01/27 (c)		990			920,381
5.25%, 06/01/27 (c)		750			734,064
Kentucky Economic Development Finance Authority, Owensboro Health System, Inc., Series B (RB) 5.00%, 06/01/27 (c)		500			468,853
Kentucky Economic Development Finance Authority, Series A-2 (RB) 5.00%, 08/01/29 (c)		1,000			929,349

	Par
	(000’s		)	Value
Kentucky (continued)
Kentucky State Property & Building Commission, Project No. 115 (RB) (BAM) 5.00%, 04/01/27 (c)	$	2,000		$	2,097,512
Paducah Electric Plant Board, Series A (RB) (AGM) 5.00%, 10/01/26 (c)		1,045			1,108,576
					17,115,776
Louisiana: 1.4%
Calcasieu Parish Memorial Hospital Service District (RB)
5.00%, 12/01/29 (c)		1,750			1,727,194
5.00%, 12/01/29 (c)		4,950			4,712,356
Calcasieu Parish Service District, Lake Charles Memorial Hospital Project (RB) 5.00%, 12/01/28		1,000			1,014,185
City of Shreveport, Water and Sewer Revenue, Series C (RB) (BAM)
4.00%, 12/01/28 (c)		3,220			3,048,264
5.00%, 12/01/25		100			103,384
Hospital Service District No. 1 of Parish of Tangipahoa, North Oaks Health System Project (RB) 4.00%, 02/01/31 (c)		2,075			1,686,308
Louisiana Local Government Environmental Facilities and Community Development Authority Student Housing, Provident Group ULM Properties LLC, Series A (RB) 5.00%, 07/01/29 (c)		500			398,304
Louisiana Local Government Environmental Facilities and Community Development Authority, CDF Healthcare of Louisiana, LLC Project, Series A (RB) 5.62%, 06/01/25 (c)		950			775,136
Louisiana Local Government Environmental Facilities and Community Development Authority, City of New Orleans Gomesa Project (RB) 4.00%, 11/01/30 (c)		2,000			1,381,648
Louisiana Local Government Environmental Facilities and Community Development Authority, Parc Fontaine Apartments, Series A (RB) 4.25%, 12/01/22 (c)		175			134,949

	Par
	(000’s		)	Value
Louisiana (continued)
Louisiana Local Government Environmental Facilities and Community Development Authority, St. James Place of Baton Rouge Project, Series A (RB) 6.25%, 11/15/25 (c)	$	1,000		$	913,719
Louisiana Local Government Environmental Facilities and Community Development Authority, University of Louisiana at Monroe Project, Series A (RB) 5.00%, 07/01/29 (c)		500			356,347
Louisiana Local Government Environmental Facilities and Community Development Authority, Westlake Chemical Corp. Project (RB) 3.50%, 11/01/27 (c)		2,550			2,283,566
Louisiana Public Facilities Authority, Loyola University Project, (RB) 5.25%, 10/01/33 (c)		1,500			1,324,661
Louisiana Public Facilities Authority, Solid Waste Disposal Revenue, Louisiana Pellets, Inc. Project (RB) 7.75%, 07/01/24 (c) (d) *		1,647			16
Louisiana Public Facilities Authority, Solid Waste Disposal Revenue, Louisiana Pellets, Inc. Project, Series A (RB)
7.50%, 07/01/23 (d) *		2,259			22
8.38%, 07/01/24 (c) (d) *		1,389			14
Louisiana Stadium and Exposition District Senior Revenue, Series A (RB) 5.00%, 07/01/23 (c)		2,555			2,570,586
Louisiana Stadium and Exposition District, Series A (RB) 5.00%, 07/01/23 (c)		2,400			2,414,798
New Orleans Aviation Board, North Terminal Project, Series A (RB) 5.00%, 01/01/25 (c)		3,160			3,039,750
Parish of St James, Nustar Logistics, LP Project (RB)
5.85%, 06/01/25 (p)		750			765,037
6.35%, 06/01/30 (c)		4,000			4,210,756
Parish of St James, Nustar Logistics, LP Project, Series A (RB) 6.35%, 06/01/30 (c)		3,000			3,158,067
					36,019,067

	Par
	(000’s		)	Value
Maine: 0.2%
Maine Finance Authority, GO Lab Madison, LLC Project (RB) 8.00%, 12/01/36 (c)	$	1,000		$	701,794
Maine Health and Higher Educational Facilities Authority, Eastern Maine Medical Center Obligated Group Issue, Series A (RB)
4.00%, 07/01/26 (c)		1,270			984,857
5.00%, 07/01/26 (c)		3,825			3,463,410
					5,150,061
Maryland: 1.2%
Baltimore Maryland, Special Obligation, Harbor Point Project (RB) 5.00%, 06/01/31 (c)		1,000			867,714
City of Baltimore, East Baltimore Research Park Project, Series A (RB) 5.00%, 09/01/27 (c)		500			478,331
City of Baltimore, Harbor Point Project (RB) 5.12%, 06/01/26 (c)		250			233,354
County of Baltimore, Riderwood Village, Inc. Facility (RB) 4.00%, 01/01/27 (c)		1,000			856,745
County of Frederick, Maryland Educational Facilities Project, Mount Saunt Mary's University, Series A (RB) 5.00%, 09/01/27 (c)		1,000			923,868
County of Prince George's, Chesapeake Lighthouse Chapter School Project, Series A (RB) 7.00%, 11/01/25 (c)		500			511,061
Frederick County Maryland, Urban Community Development Authority, Series A (ST) 4.00%, 07/01/30 (c)		2,000			1,571,237
Frederick County, Education Facilities Project, Series A (RB) 5.00%, 09/01/27 (c)		4,100			3,566,015
Howard County, Series A (TA) 4.50%, 02/15/26 (c)		500			414,721
Maryland Economic Development Corp., CNX Marine Terminal, Inc. Port of Baltimore Facility (RB) 5.75%, 12/01/22 (c)		7,785			7,782,282
Maryland Economic Development Corp., Metro Centre at Owings Mills Project (TA)
3.75%, 01/01/27 (c)		100			94,414
4.38%, 01/01/27 (c)		470			419,346
4.50%, 01/01/27 (c)		530			450,920

	Par
	(000’s		)	Value
Maryland (continued)
Maryland Economic Development Corp., Port Covington Project (TA)
3.25%, 09/01/30	$	500		$	434,977
4.00%, 09/01/30 (c)		500			409,717
4.00%, 09/01/30 (c)		3,250			2,422,331
Maryland Health and Higher Educational Facilities Authority, Adventist Healthcare, Inc., Series A (RB) 5.50%, 01/01/27 (c)		2,675			2,622,889
Maryland Health and Higher Educational Facilities Authority, Mercy Medical Center, Series A (RB)
4.00%, 07/01/26 (c)		400			317,865
5.00%, 07/01/26 (c)		250			245,483
Maryland Health and Higher Educational Facilities Authority, Meritus Medical Center (RB)
4.00%, 07/01/25 (c)		210			196,683
4.25%, 07/01/25 (c)		145			128,697
5.00%, 07/01/25 (c)		1,500			1,422,446
5.00%, 07/01/25 (c)		625			628,617
5.00%, 07/01/25 (c)		500			491,291
Maryland Health and Higher Educational facilities, Stevenson University, Series A (RB) 4.00%, 06/01/31 (c)		750			588,078
Maryland Stadium Authority Built to Learn Revenue (RB) 4.00%, 06/01/31 (c)		2,700			2,169,421
Prince George County, Collington Episcopal Life Care Community, Inc. (RB) 5.25%, 04/01/27 (c)		1,000			881,557
Prince George's County, Suitland-Naylor Road Project (TA) 4.75%, 01/01/26 (c)		500			482,897
					31,612,957
Massachusetts: 1.2%
Collegiate Charter School of Lowell (RB) 5.00%, 06/15/26 (c)		365			331,922
Commonwealth of Massachusetts (RB) (NATL) 5.50%, 01/01/25		1,220			1,268,836
Massachusetts Development Finance Agency, Boston Medical Center Issue , Series D (RB) 4.00%, 07/01/25 (c)		535			412,277
Massachusetts Development Finance Agency, Boston Student Housing Project (RB) 5.00%, 10/01/26 (c)		1,000			842,783

	Par
	(000’s		)	Value
Massachusetts (continued)
Massachusetts Development Finance Agency, Emerson College (RB) 5.00%, 01/01/25 (c)	$	500		$	496,900
Massachusetts Development Finance Agency, Emmanuel College, Series A (RB) 5.00%, 10/01/26 (c)		1,035			961,228
Massachusetts Development Finance Agency, Lasell University (RB) 4.00%, 07/01/31 (c)		2,400			1,738,462
Massachusetts Development Finance Agency, Lawrence General Hospital (RB) 5.00%, 07/01/27 (c)		1,000			867,365
Massachusetts Development Finance Agency, Lawrence General Hospital, Series A (RB) 5.25%, 07/01/24 (c)		350			310,638
Massachusetts Development Finance Agency, Linden Ponds, Inc. Facility (RB)
5.00%, 11/15/25 (c)		500			491,921
5.12%, 11/15/25 (c)		500			480,223
Massachusetts Development Finance Agency, Newbridge on the Charles, Inc. (RB)
4.00%, 11/21/22 (c)		1,000			965,769
4.12%, 11/21/22 (c)		2,500			2,297,101
5.00%, 11/21/22 (c)		9,820			9,862,004
5.00%, 11/21/22 (c)		1,400			1,412,069
Massachusetts Development Finance Agency, South Shore Hospital Issue, Series I (RB) 4.00%, 07/01/26 (c)		3,500			3,114,523
Massachusetts Development Finance Agency, Springfield College Issue, Series A (RB) (AGM) 4.00%, 06/01/30 (c)		5			3,768
Massachusetts Development Finance Agency, UMass Boston Student Housing Project (RB) 5.00%, 10/01/26 (c)		1,930			1,698,684
Massachusetts Development Finance Agency, UMass Dartmouth Student Housing Project (RB) 5.00%, 10/01/28 (c)		2,000			1,603,062
Massachusetts Development Finance Agency, UMass Memorial Health Care Obligated Group Issue, Series I (RB)
5.00%, 07/01/26 (c)		510			483,465
5.00%, 07/01/26 (c)		190			196,088

	Par (000’s		)	Value
Massachusetts (continued)
Massachusetts Development Finance Agency, Wellforce Issue, Series A (RB) 5.00%, 01/01/29 (c)	$	1,000		$	950,582
					30,789,670
Michigan: 1.1%
Calhoun County Hospital Finance Authority, Oaklawn Hospital (RB) 5.00%, 02/15/27 (c)		290			267,948
City of Detroit, Michigan Unlimited Tax (GO) 5.50%, 04/01/30 (c)		250			248,789
City of Detroit, Michigan Unlimited Tax, Series A (GO) 5.00%, 04/01/31 (c)		1,150			1,057,012
Detroit Service Learning Academy, Public School Academy (RB) (AGM Q-SBLF) 4.00%, 07/01/28 (c)		1,000			737,121
Flint Hospital Building Authority, Hurley Medical Center (RB) 4.00%, 07/01/30 (c)		500			393,722
Flint Michigan Hospital Building Authority (RB) 4.75%, 07/01/23 (c)		30			30,248
Flint Michigan Hospital Building Authority, Series B (RB) 4.75%, 07/01/23 (c)		395			396,001
Michigan Finance Authority, Mid Michigan Health Credit Group (RB) 5.00%, 06/01/24 (c)		1,040			1,068,321
Michigan Finance Authority, Presbyterian Villages of Michigan (RB)
5.25%, 11/15/25 (c)		250			224,423
5.50%, 11/15/25 (c)		300			259,291
Michigan Finance Authority, Public Lighting Authority Local Project, Series B (RB)
5.00%, 07/01/24 (c)		215			207,799
5.00%, 07/01/24 (c)		3,575			3,362,114
Michigan Finance Authority, Series B-1 (RB) 5.00%, 12/01/30 (c)		3,235			3,012,376
Michigan Finance Authority, Sold Tobacco Receipts, Series A-2 (RB) 5.00%, 12/01/30		10,000			9,592,932
Michigan Finance Authority, Thomas M. Cooley Law School Project (RB) 5.00%, 07/01/24 (c)		795			788,854
Michigan Finance Authority, Tobacco Settlement Bonds, Series B-2 (RB) 0.01%, 12/01/30 (c)		15,500			1,042,766

	Par (000’s		)	Value
Michigan (continued)
Michigan State Building Authority, Series F (RB) 4.00%, 10/01/24	$	100		$	98,905
Michigan Strategic Fund, Evangelical Homes Project (RB)
5.25%, 12/01/22 (c)		2,450			2,255,324
5.50%, 12/01/22 (c)		2,000			1,708,303
Michigan Strategic Fund, I-75 Improvement Project (RB)
5.00%, 12/31/28 (c)		600			587,695
5.00%, 12/31/28 (c)		700			675,681
5.00%, 12/31/28 (c)		1,250			1,090,446
Michigan Tobacco Settlement Finance Authority, Series B (RB) 0.01%, 11/16/22 (c)		260			24,036
Summit Academy North, Michigan Public School (RB) 4.00%, 11/01/28 (c)		1,000			776,984
					29,907,091
Minnesota: 0.6%
Chippewa County, Chippewa County-Montevideo Hospital Project (RB) 4.00%, 03/01/26 (c)		135			115,861
City of Anoka, Homestead at Anoka, Inc. Project (RB) 4.25%, 11/01/24 (c)		500			465,969
City of Brooklyn Center, Minnesota Multifamily Housing, Series A (RB) 5.50%, 12/01/22 (c) (d) *		1,900			1,175,141
City of Brooklyn Park, Charter School, Athlos Leadership Academy Project, Series A (RB)
5.50%, 07/01/25 (c)		245			201,587
5.50%, 07/01/25 (c)		250			216,921
City of Crookston, Health Care Facilities, Riverview Health Project (RB) 5.00%, 05/01/29 (c)		3,000			2,755,065
City of Deephaven, Charter School, Eagle Ridge Academy Project, Series A (RB)
5.25%, 07/01/25 (c)		500			474,824
5.50%, 07/01/25 (c)		2,860			2,700,948
City of Forest Lake, International Language Academy, Series A (RB) (SAW) 5.38%, 08/01/27 (c)		500			452,358
City of Maple Grove, Minnesota Health Care Facilities (RB) 3.38%, 05/01/27 (c)		115			96,862
City of St. Louis Park, Place Via Sol Project (RB) (AMBAC) 6.00%, 07/01/27 (d) (p) *		2,000			1,800,000

	Par (000’s		)	Value
Minnesota (continued)
City of St. Paul, Housing and Redevelopment Authority, Series A (RB)
4.00%, 07/01/25 (c)	$	1,000		$	937,099
5.75%, 09/01/26 (c)		325			309,682
City of West St. Paul, Housing and Health Care Facilities, Walker Westwood Ridge Campus Project (RB) 5.00%, 11/01/25 (c)		500			405,674
Minnesota Higher Education Facilities Authority, Augsburg College, Series A (RB) 5.00%, 05/01/26 (c)		3,730			3,225,442
Minnesota Higher Education Facilities Authority, Augsburg College, Series B (RB) 4.25%, 11/21/22 (c)		975			774,590
Township of Baytown, St. Croix Preparatory Academy Project, Series A (RB) 4.00%, 08/01/26 (c)		250			202,426
					16,310,449
Mississippi: 0.2%
Mississippi Business Finance Corp. (RB) 2.38%, 06/01/26 (c)		1,250			747,348
Mississippi Development Bank, Magnolia Regional Health Center Project (RB) 4.00%, 10/01/31 (c)		3,500			2,637,075
Mississippi Development Bank, Water and Sewer System (RB) (AGM) 6.88%, 12/01/23 (c)		1,000			1,021,959
					4,406,382
Missouri: 1.1%
Boone County, Boone Hospital Center (RB)
3.00%, 08/01/26 (c)		410			306,126
4.00%, 08/01/26 (c)		565			452,783
5.00%, 08/01/26 (c)		1,000			1,005,632
5.00%, 08/01/26 (c)		1,000			1,009,693
Cape Girardeau County Industrial Development Authority, Missouri Health Facilities (RB) 3.00%, 03/01/31 (c)		3,750			2,238,339
Cape Girardeau County Industrial Development Authority, Series A (RB) 5.00%, 03/01/27 (c)		1,000			1,012,638
City of Blue Springs, Adams Farm Project, Series A (TA) 4.00%, 06/01/24 (c)		70			65,653
City of Liberty, Liberty Commons Project, Series A (TA) 5.75%, 06/01/25 (c)		500			440,250

	Par (000’s		)	Value
Missouri (continued)
City of Nevada, Regional Medical Center (RB) (ACA) 4.30%, 12/01/22 (c)	$	40		$	38,656
City of St. Ann, Northwest Plaza Redevelopment Project, Series A (TA) 4.62%, 11/01/27 (c)		1,000			926,864
City of St. Louis, Industrial Development Authority, Ballpark Village Development Project, Series A (RB) 4.38%, 11/15/26 (c)		250			199,245
Health and Educational Facilities Authority, Lutheran Senior Services Projects, Series C (RB) 4.00%, 02/01/29 (c)		475			366,925
I-470 Western Gateway Transportation Development District, Series A (RB)
4.50%, 12/01/26 (c)		400			380,388
5.25%, 12/01/26 (c)		1,100			1,023,298
Kansas City Industrial Development Authority, Methodist Retire Home, Series B (RB) 5.00%, 11/15/46		5,352			3,913,903
Kansas City Land Clearance Redevelopment Authority, Convention Center Hotel Project, Series B (TA) (AGM) 5.00%, 02/01/28 (c)		4,475			2,972,804
Kansas City Missouri, International Airport Terminal Modernization Project, Series B (RB) (AMBAC) 5.00%, 03/01/29 (c)		1,000			984,300
Kirkwood Industrial Development Authority, Missouri Retirement Community, Series A (RB)
5.25%, 05/15/27 (c)		1,500			1,303,657
5.25%, 05/15/27 (c)		4,000			3,154,308
Lees Summit Industrial Development Authority, John Knox Village, Series A (RB)
5.00%, 08/15/24 (c)		1,550			1,380,462
5.00%, 08/15/25 (c)		2,000			1,696,046
Lee’s Summit, Missouri Summit Fair Project (TA) 4.88%, 11/01/27 (c)		2,500			2,114,892
Rolla Industrial Development Authority, Westside Marketplace Redevelopment Project, Series A (TA) 5.38%, 05/01/25 (c)		860			745,122

	Par (000’s		)	Value
Missouri (continued)
St. Joseph Industrial Development Authority, Missouri Healthcare, Series A (RB) 5.00%, 01/01/26 (c)	$	1,000		$	740,022
St. Louis County, Industrial Development Authority, Friendship Village St. Louis, Series A (RB) 5.00%, 09/01/25 (c)		500			429,588
St. Louis County, Industrial Development Authority, St. Andrew’s Resources, Series A (RB) 5.00%, 12/01/25 (c)		150			141,327
					29,042,921
Montana: 0.2%
City of Forsyth, Rosebud County, Montana Pollution Control, Series A (RB) 3.90%, 03/01/23 (c)		2,000			1,858,915
Montana Facility Finance Authority, Bozeman Deaconess Health Services, Series A (RB) 4.00%, 06/01/31 (c)		1,500			1,256,774
Montana Facility Finance Authority, Kalispell Regional Medical Center, Series B (RB)
4.12%, 07/01/28 (c)		500			427,966
5.00%, 07/01/28 (c)		1,270			1,198,384
					4,742,039
Nebraska: 0.1%
Central Plains Energy Project, Gas Project Crossover No. 3, Series A (RB)
5.00%, 09/01/34		1,000			998,543
5.00%, 09/01/36		500			494,794
5.00%, 09/01/42		1,780			1,705,390
					3,198,727
Nevada: 0.5%
City of Las Vegas, Special Improvement District No. 814 (SA)
4.00%, 06/01/29 (c)		245			195,958
4.00%, 06/01/29 (c)		555			430,495
City of Reno, Tax Increment Senior Lien, Series C (TA) 5.40%, 12/01/22 (c)		1,175			1,136,793
Clark County School District, Series A (GO) 5.00%, 06/15/26		2,000			2,098,761
Clark County School District, Series B (GO) (BAM) 3.00%, 06/15/30 (c)		1,000			774,654
Clark County, Nevada Airport System Subordinate Lien, Series A-2 (RB) 5.00%, 07/01/27 (c)		1,050			1,067,352

	Par (000’s		)	Value
Nevada (continued)
Clark County, Nevada School District, Series B (GO) (BAM) 3.00%, 06/15/31 (c)	$	2,000		$	1,523,227
Clark County, Special Improvement District No. 159 (SA) 5.00%, 08/01/25 (c)		170			167,432
Henderson Local Improvement District No. T-18 (SA) 4.00%, 09/01/26 (c)		625			540,349
North Las Vegas, Special Improvement District No. 64 (SA) 4.62%, 12/01/28 (c)		230			196,024
North Las Vegas, Special Improvement District No. 64 (SA) (SAW) 4.62%, 12/01/28 (c)		480			422,842
State of Nevada, Department of Business and Industry, Somerset Academy, Series A (RB)
5.00%, 12/15/25 (c)		2,000			1,903,425
5.00%, 12/15/25 (c)		500			442,213
5.00%, 12/15/25 (c)		400			374,712
5.12%, 12/15/25 (c)		1,000			912,216
					12,186,453
New Hampshire: 0.5%
National Finance Authority, Ascentria Care Alliance Project (RB)
5.00%, 07/01/28 (c)		1,220			934,473
5.00%, 07/01/28 (c)		2,000			1,488,809
National Finance Authority, Covanta Project, Series B (RB)
3.75%, 07/02/40 (c) (p)		2,250			1,690,911
4.62%, 07/01/23 (c)		4,000			3,323,633
National Finance Authority, Resource Recovery, Series A (RB) 3.62%, 07/02/40 (c) (p)		3,665			2,705,047
National Finance Authority, The Vista Project, Series A (RB) 5.62%, 07/01/25 (c)		1,600			1,419,549
New Hampshire Health and Education Facilities Authority, Hillside Village, Series A (RB)
6.12%, 07/01/24 (c) (d) *		1,500			585,000
6.12%, 07/01/24 (c) (d) *		1,000			390,000
6.25%, 07/01/24 (c) (d) *		500			195,000
					12,732,422
New Jersey: 3.6%
Camden County, New Jersey Improvement Authority, Series A (RB) 5.00%, 02/15/24 (c)		150			148,857
Casino Reinvestment Development Authority (RB) 5.25%, 11/01/24 (c)		1,410			1,419,957

	Par (000’s		)	Value
New Jersey (continued)
5.25%, 11/01/24 (c)	$	8,450		$	8,484,574
City of Atlantic City, New Jersey Tax Appeal (GO) 5.00%, 12/01/23 (c)		65			64,231
New Jersey Economic Development Authority, Bancroft Neurohealth Project, Series A (RB) 5.00%, 06/01/26 (c)		470			438,321
New Jersey Economic Development Authority, Continental Airlines, Inc. Project (RB)
5.25%, 12/01/22 (c)		5,000			4,921,001
5.50%, 06/20/23 (c)		60			58,450
5.62%, 03/05/24 (c)		285			281,293
5.62%, 03/05/24 (c)		2,035			2,008,534
5.75%, 12/01/22 (c)		4,825			4,827,484
New Jersey Economic Development Authority, Kapkowski Road Landfill Reclamation Improvement District Project (SA) 5.75%, 04/01/31		55			53,533
New Jersey Economic Development Authority, Lions Gate Project (RB)
4.88%, 01/01/24 (c)		655			616,157
5.00%, 01/01/24 (c)		500			448,775
New Jersey Economic Development Authority, Motor Vehicle Surcharges, Series A (RB)
4.00%, 07/01/27 (c)		1,640			1,541,904
4.00%, 07/01/27 (c)		2,000			1,829,207
5.00%, 07/01/27 (c)		1,890			1,909,165
New Jersey Economic Development Authority, Motor Vehicle Surcharges, Series B (RB) (XLCA) 0.00%, 07/01/26 ^		515			440,444
New Jersey Economic Development Authority, New Jersey Transit Corp. Project, Series A (RB) 4.00%, 11/01/27		1,250			1,242,902
New Jersey Economic Development Authority, New Jersey Transit Corp. Project, Series B (RB) 4.00%, 11/01/25		120			120,227
New Jersey Economic Development Authority, School Facilities Construction, Series AAA (RB)
5.00%, 12/15/26 (c)		725			727,593
5.00%, 12/15/26 (c)		305			305,101

	Par (000’s		)	Value
New Jersey (continued)
New Jersey Economic Development Authority, School Facilities Construction, Series BBB (RB)
4.75%, 12/15/26 (c)	$	2,545		$	2,685,833
5.50%, 12/15/26 (c)		165			179,058
New Jersey Economic Development Authority, School Facilities Construction, Series EEE (RB) 5.00%, 12/15/28 (c)		2,880			2,756,219
New Jersey Economic Development Authority, School Facilities Construction, Series II (RB)
5.00%, 11/28/22 (c)		470			470,311
5.00%, 11/28/22 (c)		10			10,034
New Jersey Economic Development Authority, School Facilities Construction, Series KK (RB) 5.00%, 11/28/22 (c)		125			125,016
New Jersey Economic Development Authority, School Facilities Construction, Series LLL (RB)
5.00%, 12/15/29 (c)		600			591,714
5.00%, 12/15/29 (c)		2,125			2,090,836
New Jersey Economic Development Authority, School Facilities Construction, Series MMM (RB) 4.00%, 12/15/29 (c)		500			455,587
New Jersey Economic Development Authority, School Facilities Construction, Series NN (RB)
5.00%, 03/01/23 (c)		15			15,049
5.00%, 03/01/23 (c)		285			286,696
New Jersey Economic Development Authority, School Facilities Construction, Series PP (RB)
5.00%, 06/15/24 (c)		140			143,903
5.00%, 06/15/24 (c)		920			935,310
5.00%, 06/15/24 (c)		100			101,590
5.00%, 06/15/24 (c)		580			596,168
New Jersey Economic Development Authority, School Facilities Construction, Series QQQ (RB)
4.00%, 12/15/29 (c)		205			164,743
4.00%, 12/15/30 (c)		600			527,957
4.00%, 12/15/30 (c)		600			516,016
4.00%, 12/15/30 (c)		700			637,822

	Par (000’s		)	Value
New Jersey (continued)
New Jersey Economic Development Authority, School Facilities Construction, Series RR (RB) 5.00%, 06/15/24 (c)	$	620		$	637,283
New Jersey Economic Development Authority, School Facilities Construction, Series UU (RB) 5.00%, 06/15/24 (c)		2,500			2,456,556
New Jersey Economic Development Authority, School Facilities Construction, Series WW (RB)
5.00%, 06/15/25 (c)		1,235			1,240,841
5.00%, 06/15/25 (c)		680			681,590
5.00%, 06/15/25 (c)		630			627,617
5.25%, 06/15/25 (c)		1,055			1,108,734
5.25%, 06/15/25 (c)		2,565			2,695,641
5.25%, 06/15/25 (c)		435			446,097
New Jersey Economic Development Authority, School Facilities Construction, Series XX (RB)
4.00%, 06/15/24		220			220,921
4.25%, 06/15/25 (c)		885			890,342
4.38%, 06/15/25 (c)		420			422,611
5.00%, 06/15/24		1,080			1,101,330
5.00%, 06/15/25 (c)		105			107,652
New Jersey Economic Development Authority, The Goethals Bridge Replacement Project (RB)
5.12%, 01/01/24 (c)		350			341,459
5.25%, 01/01/24 (c)		1,000			1,003,439
5.38%, 01/01/24 (c)		900			866,697
5.50%, 01/01/24 (c)		500			502,589
New Jersey Economic Development Authority, West Campus Housing, LLC, Series A (RB) 4.12%, 07/01/25 (c)		150			132,912
New Jersey Educational Facilities Authority, Higher Educational Capital Improvement, Series A (RB) 5.00%, 09/01/24 (c)		330			335,886
New Jersey Educational Facilities Authority, Rider University, Series F (RB) 5.00%, 07/01/27 (c)		490			407,478
New Jersey Health Care Facilities Financing Authority, Hospital Asset Transformation Program (RB)
5.00%, 04/01/28 (c)		1,000			1,000,076
5.00%, 04/01/28 (c)		500			518,806

	Par (000’s		)	Value
New Jersey (continued)
New Jersey Transportation Trust Fund Authority, Series A (RB)
0.00%, 12/15/25 ^	$	230		$	202,249
0.00%, 12/15/25 ^		270			237,422
0.01%, 12/15/33		5			2,884
5.00%, 12/15/26		5			5,192
5.00%, 12/15/28 (c)		2,070			2,110,776
5.00%, 12/15/28		200			208,340
5.00%, 12/15/29 (c)		385			378,694
5.25%, 12/15/23		100			101,673
5.50%, 12/15/23		205			208,986
New Jersey Transportation Trust Fund Authority, Series AA (RB)
4.75%, 06/15/25 (c)		150			149,829
4.75%, 06/15/25 (c)		3,000			2,878,647
5.00%, 06/15/23 (c)		200			201,247
5.00%, 06/15/23 (c)		605			608,167
5.00%, 06/15/23 (c)		135			135,754
5.00%, 06/15/23 (c)		640			640,740
5.00%, 06/15/24 (c)		1,120			1,104,532
5.00%, 06/15/25 (c)		340			326,276
5.25%, 06/15/23 (c)		130			130,455
5.25%, 06/15/25 (c)		505			506,160
New Jersey Transportation Trust Fund Authority, Series C (RB) (AMBAC)
0.00%, 12/15/24 ^		430			395,229
0.00%, 12/15/25 ^		250			220,171
0.00%, 12/15/28 ^		185			141,669
New Jersey Transportation Trust Fund Authority, Series C (RB) (NATL) 0.01%, 12/15/31		365			238,347
Newark Housing Port Authority, Marine Terminal Redevelopment Project (RB) (NATL) 5.25%, 01/01/27		100			103,840
South Jersey Port Corp., Marine Terminal, Series B (RB)
5.00%, 01/01/28 (c)		360			360,226
5.00%, 01/01/28 (c)		750			735,984
Tobacco Settlement Financing Corp., Series A (RB) 5.00%, 06/01/28 (c)		7,410			7,131,702
Tobacco Settlement Financing Corp., Series B (RB) 5.00%, 06/01/28 (c)		14,330			13,175,946
					95,565,266

	Par (000’s		)	Value
New Mexico: 0.1%
New Mexico Hospital Equipment Loan Council, Haverland Carter Lifestyle Group -LA Vida Llena Expansion Project, Series A (RB) 5.00%, 07/01/26 (c)	$	4,980		$	3,852,812
New York: 9.5%
Brooklyn Arena Local Development Corp., Barclays Center (RB)
0.00%, 07/15/33 ^		370			196,932
0.01%, 07/15/32		395			224,474
0.01%, 07/15/47		180			36,805
Brooklyn Arena Local Development Corp., Barclays Center, Series A (RB) 5.00%, 07/15/26		345			344,859
Build NYC Resource Corp., Albert Einstein School of Medicine, Inc., Project (RB) 5.50%, 09/01/25 (c)		3,120			3,091,354
Build NYC Resource Corp., Brooklyn Navy Yard Cogeneration Partners, L.P. Project (RB)
5.00%, 12/31/28		5,610			5,277,184
5.25%, 12/31/28 (c)		9,700			8,697,254
5.50%, 12/31/28 (c)		4,700			3,993,838
Build NYC Resource Corp., Metropolitan College of New York Project (RB)
5.00%, 11/01/24 (c)		1,560			1,375,474
5.25%, 11/01/24 (c)		250			245,133
Build NYC Resource Corp., Richmond University Medical Center Project, Series A (RB) 5.62%, 12/01/28 (c)		2,200			1,861,957
Build NYC Resource Corp., Shefa School Project, Series A (RB) (SAW) 5.00%, 06/15/31 (c)		2,000			1,742,637
Build NYC Resource Corporation, New World Preparatory Chapter School Project, Series A (RB) 4.00%, 06/15/31		300			269,232
Chautauqua Tobacco Asset Securitization Corp. (RB) 5.00%, 06/01/24 (c)		1,000			891,844
City of Albany Capital Resources Corp., College of Saint Rose Project (RB) 4.00%, 07/01/31 (c)		1,000			688,414
City of Troy Capital Resource Corp., Series A (RB) 4.00%, 09/01/30 (c)		1,250			1,034,143

	Par (000’s		)	Value
New York (continued)
County of Suffolk, Series D (GO) (BAM) 4.00%, 10/15/27 (c)	$	2,120		$	2,152,764
Dormitory Authority of the State of New York, Montefiore Medical Center, Series A (RB) 4.00%, 08/01/28 (c)		1,000			788,241
Dutchess County Local Development Corp., Bard College Project, Series A (RB)
5.00%, 07/01/30 (c)		1,500			1,356,044
5.00%, 07/01/30 (c)		1,000			876,900
5.00%, 07/01/30 (c)		8,370			7,149,617
Dutchess County Local Development Corp., Health Quest System, Inc., Series B (RB) 5.00%, 07/01/26 (c)		910			825,176
Erie Tobacco Asset Securitization Corp., Series A (RB)
5.00%, 12/01/22 (c)		5			4,593
5.00%, 12/01/22 (c)		10,000			8,895,574
Jefferson County Civic Facility Development Corp. (RB) 4.00%, 11/01/27 (c)		2,320			1,688,721
Long Island Power Authority, Electric System (RB) 5.00%, 09/01/27 (c)		3,500			3,527,078
Metropolitan Transportation Authority, Series F (RB) 5.00%, 11/15/25 (c)		1,000			980,788
Monroe County Industrial Development Corp., Rochester regional Health Project, Series A (RB)
3.00%, 12/01/30 (c)		5			3,235
5.00%, 12/01/30 (c)		500			510,105
Nassau County Tobacco Settlement Corp., Series A-3 (RB) 5.12%, 11/16/22 (c)		3,905			3,369,012
New Rochelle Industrial Development Agency (RB)
5.25%, 01/01/23 (c) (d) *		1,352			30,411
5.50%, 07/01/19 (c) (d) *		62			1,392
New York City Housing Development Corp., Multi- Family Housing, Series F (RB) 4.50%, 05/15/24 (c)		4,500			4,411,823
New York City Industrial Development Agency, Airport Facilities, Series A (RB) 5.00%, 12/01/22 (c)		2,000			1,995,960
New York Convention Center Development Corp. (RB) 5.00%, 11/15/25 (c)		2,500			2,504,777

	Par (000’s		)	Value
New York (continued)
New York Counties Tobacco Trust IV, Series A (RB)
3.75%, 06/01/26 (c)	$	500		$	362,458
5.00%, 11/16/22 (c)		9,000			7,679,256
5.00%, 11/16/22 (c)		785			655,379
6.25%, 11/16/22 (c)		1,000			974,238
New York Counties Tobacco Trust IV, Series E (RB) 0.00%, 11/16/22 (c) ^		5			288
New York Counties Tobacco Trust VI, Series A-2B (RB) 5.00%, 06/01/26 (c)		1,000			827,620
New York Liberty Development Corp., 3 World Trade Center Project (RB)
5.00%, 11/15/24 (c)		5,500			4,832,338
5.15%, 11/15/24 (c)		5,710			5,453,369
5.38%, 11/15/24 (c)		3,700			3,529,435
7.25%, 11/15/24 (c)		7,000			7,002,304
New York Liberty Development Corp., Bank of America Tower at One Bryant Park Project, Series 3 (RB) 2.80%, 03/15/29 (c)		7,000			5,688,165
New York State Dormitory Authority, CUNY Student Housing Project (RB) (AMBAC) 5.50%, 07/01/35		480			481,579
New York State Dormitory Authority, Fit Student Housing Corp. (RB) (NATL) 5.25%, 07/01/31		150			148,578
New York State Dormitory Authority, Montefiore Obligated Group, Series A (RB) 5.00%, 08/01/27		3,500			3,494,957
New York State Dormitory Authority, New School University, Series A (RB) 5.00%, 07/01/25 (c)		2,500			2,418,336
New York State Dormitory Authority, Orange Regional Medical Center Obligated Group (RB) 5.00%, 06/01/27 (c)		1,000			962,546
New York State Dormitory Authority, Pace University, Series A (RB) 4.25%, 05/01/23 (c)		1,700			1,397,331
New York State Dormitory Authority, School Districts Bond Financing Program, Series A (RB) (SAW) 5.00%, 10/01/24		1,365			1,407,594
New York State Dormitory Authority, Series A (RB) 5.00%, 01/01/27 (c)		1,370			1,391,127

	Par (000’s		)	Value
New York (continued)
New York State Dormitory Authority, The New School, Series A (RB) 5.00%, 01/01/27 (c)	$	2,500		$	2,369,927
New York State Dormitory Authority, Yeshiva University, Series A (RB) 5.00%, 07/15/32 (c)		5,000			4,615,504
New York Transportation Development Corp. (RB) 5.00%, 01/01/28 (c)		1,180			1,149,864
New York Transportation Development Corp., American Airlines, Inc. John F. Kennedy International Airport Project (RB)
2.25%, 08/01/26		1,625			1,491,900
5.00%, 11/21/22 (c)		8,640			8,489,344
5.00%, 11/21/22 (c)		6,020			5,997,200
5.25%, 08/01/30 (c)		2,810			2,790,103
5.38%, 08/01/30 (c)		6,250			6,086,634
New York Transportation Development Corp., Delta Air Lines, Inc. - LaGuardia Airport Terminals C&D Redevelopment Project (RB)
4.38%, 10/01/30 (c)		15,060			12,524,315
5.00%, 01/01/28 (c)		1,300			1,275,012
5.00%, 10/01/30 (c)		8,650			8,338,505
5.00%, 10/01/30 (c)		8,500			8,019,217
New York Transportation Development Corp., Delta Air Lines, Inc., LaGuardia Airport Terminals C&D Redevelopment Project (RB)
4.00%, 10/01/30		8,665			8,125,660
5.00%, 01/01/28 (c)		160			157,945
5.00%, 01/01/28 (c)		1,600			1,586,455
New York Transportation Development Corp., John F. Kennedy International Airport Project (RB) 3.00%, 08/01/31		7,165			6,177,497
New York Transportation Development Corp., LaGuardia Airport Terminal B Redevelopment Project, Series A (RB)
4.00%, 07/01/24 (c)		1,000			917,927
5.00%, 07/01/24 (c)		230			226,040
5.00%, 07/01/24 (c)		420			423,599
5.00%, 07/01/24 (c)		8,130			7,433,227
New York Transportation Development Corp., Terminal 4 John F. Kennedy International Airport Project (RB)
5.00%, 12/01/32 (c)		1,290			1,183,308
5.00%, 12/01/32 (c)		1,000			925,758

	Par (000’s		)	Value
New York (continued)
5.00%, 12/01/32 (c)	$	1,000		$	908,070
New York Transportation Development Corp., Terminal 4 John F. Kennedy International Airport Project, Series C (RB) 4.00%, 12/01/30 (c)		1,000			836,705
Niagara Area Development Corp., New York Solid Waste Disposal Facility, Series A (RB) 4.75%, 07/01/23 (c)		5,250			4,437,499
Otsego County Capital Resource Corp., Hartwick College Project, Series A (RB) 5.00%, 10/01/25 (c)		355			273,515
Suffolk Tobacco Asset Securitization Corp., Series B-1 (RB) 4.00%, 06/01/31 (c)		4,600			4,133,201
Suffolk Tobacco Asset Securitization Corp., Series B-2 (RB) 0.01%, 06/01/31 (c)		10,515			877,708
Syracuse Industrial Development Agency, Carousel Center Project, Series A (RB) 5.00%, 01/01/26 (c)		200			142,639
TSASC, Inc., Tobacco Settlement Bonds, Series B (RB) 5.00%, 06/01/27 (c)		17,535			15,263,614
Ulster County Capital Resource Corp., Woodland Pond of New Paltz Project (RB)
4.00%, 09/15/24 (c)		525			488,126
5.00%, 09/15/24 (c)		400			314,575
5.25%, 09/15/24 (c)		180			126,839
Westchester County Local Development Corp., Medical Center (RB) 5.00%, 11/01/25 (c)		9,285			8,403,815
Westchester County Local Development Corp., Purchase Senior Learning Community Inc., Project, Series A (RB) 5.00%, 07/01/27 (c)		1,000			775,039
Westchester Tobacco Asset Securitization Corp., Series B (RB) 5.00%, 06/01/27 (c)		1,330			1,335,885
Westchester Tobacco Asset Securitization Corp., Series C (RB) 5.00%, 06/01/23 (c)		4,575			4,418,677

	Par (000’s		)	Value
New York (continued)
Yonkers Economic Development Corp., Charter School of Educational Excellence Project, Series A (RB) 5.00%, 10/15/29 (c)	$	275		$	227,688
Yonkers Economic Development Corp., Charter School of Educational Excellence Project, Series A (RB) (AGM) 5.00%, 10/15/29 (c)		315			282,379
					253,301,558
North Carolina: 0.8%
North Carolina Department of Transportation, I-77 Hot Lanes Project (RB)
5.00%, 06/30/25 (c)		1,000			973,368
5.00%, 06/30/25 (c)		1,430			1,288,899
North Carolina Medical Care Commission Health Care Facilities, Series A (RB) 4.00%, 01/01/30 (c)		205			170,233
North Carolina Medical Care Commission, Pennybyrn at Maryfield (RB) 5.00%, 10/01/25		90			90,408
North Carolina Medical Care Commission, Retirement Facilities (RB)
4.70%, 07/01/25 (c)		550			477,957
5.00%, 10/01/24 (c)		250			237,554
5.00%, 10/01/24 (c)		250			227,180
North Carolina Medical Care Commission, Retirement Facilities, Series A (RB) 5.00%, 10/01/24 (c)		165			158,427
North Carolina Medical Care Commission, Retirement Facilities, Series A (RB) (AGM) 5.00%, 07/01/26 (c)		385			335,909
North Carolina Medical Care Commission, Salemtowne Project (RB) 5.25%, 10/01/25 (c)		465			433,958
North Carolina Turnpike Authority, Triangle Expressway System (RB)
4.00%, 01/01/30 (c)		1,250			939,140
5.00%, 01/01/27 (c)		1,000			1,009,578
5.00%, 01/01/30 (c)		1,705			1,576,860
North Carolina Turnpike Authority, Triangle Expressway System (RB) (AGM) 5.00%, 01/01/29 (c)		100			105,295

	Par (000’s		)	Value
North Carolina (continued)
North Carolina Turnpike Authority, Triangle Expressway System (RB) (BAM) 5.00%, 02/01/24	$	12,975		$	13,133,355
					21,158,121
North Dakota: 0.2%
City of Grand Forks, Altru Health System (RB) (AGM) 4.00%, 12/01/31 (c)		1,000			807,899
City of Williston, Eagle Crest Apartments LLC Project (RB)
6.25%, 09/01/23 (d) *		615			307,500
7.75%, 09/01/23 (c) (d) *		1,285			642,500
County of Grand Forks, Red River Biorefinery, LLC Project, Series A (RB) 7.00%, 06/15/26 (c)		5,500			3,047,778
					4,805,677
Ohio: 3.7%
Akron Bath Copley Joint Township Hospital District, Summa Health System (RB)
5.25%, 11/15/26 (c)		3,000			2,854,087
5.25%, 11/15/26 (c)		500			489,239
American Municipal Power, Inc., Prairie State Energy Campus Project, Series A (RB) 5.00%, 02/15/24 (c)		1,585			1,596,777
Buckeye Tobacco Settlement Financing Authority, Series B-2 (RB) 5.00%, 06/01/30 (c)		55,000			46,357,438
Cleveland Cuyahoga County, Port Authority Cultural Facility, Playhouse Square Foundation Project (RB) 5.00%, 12/01/28		900			907,784
Columbus-Franklin County Finance Authority, Ohio Dominican University Project (RB) (SBG) 6.50%, 03/01/25 (c)		3,900			2,966,698
County of Cuyahoga, Ohio Convention Hotel Project (CP) 5.00%, 06/01/24 (c)		1,805			1,840,444
County of Cuyahoga, Ohio Hospital, The Metrohealth System (RB)
4.75%, 02/15/27 (c)		340			299,116
5.00%, 02/15/27 (c)		3,010			2,737,541
5.25%, 02/15/27 (c)		1,750			1,685,473
County of Lukas, Ohio Hospital, Promedica Healthcare, Series A (RB) (AGM) 5.25%, 11/15/28 (c)		1,500			1,040,075

	Par (000’s		)	Value
Ohio (continued)
County of Montgomery, Premier Health Partners Obligated Group, Series A (RB)
4.00%, 11/15/29 (c)	$	3,940		$	3,213,289
4.00%, 11/15/29 (c)		2,250			1,775,527
Muskingum County, Ohio Hospital Facilities, Genesis HealthCare System Project (RB)
5.00%, 02/15/23 (c)		1,000			864,772
5.00%, 02/15/23 (c)		490			463,946
5.00%, 02/15/23 (c)		5,030			4,262,616
Ohio Air Quality Development Authority, American Electric Co. Project, Series B (RB) 2.60%, 10/01/29 (c) (p)		1,500			1,294,643
Ohio Air Quality Development Authority, AMG Vanadium Project (RB) 5.00%, 07/01/29 (c)		10,565			8,920,696
Ohio Air Quality Development Authority, Duke Energy Corp. Project, Series B (RB) 4.25%, 06/01/27 (p)		1,000			976,794
Ohio Air Quality Development Authority, Ohio Valley Electric Corp. Project, Series A (RB) 3.25%, 09/01/29		5,500			4,900,954
Ohio Air Quality Development Authority, Pratt Paper LLC Project (RB) 4.50%, 01/15/28 (c)		4,500			3,643,181
Ohio State, Portmouth Gateway Group, LLC Project (RB) 5.00%, 06/30/25 (c)		1,500			1,462,024
Southeastern Ohio Port Authority, Hospital Facilities Revenue, Memorial Health System Obligated Group Project (RB)
5.00%, 12/01/24 (c)		245			221,867
5.00%, 12/01/24 (c)		250			213,093
5.50%, 12/01/24 (c)		70			65,354
5.75%, 12/01/22 (c)		710			711,434
6.00%, 12/01/22 (c)		1,070			1,072,356
					96,837,218
Oklahoma: 1.1%
Holdenville Public Works Authority, Series A (RB) 4.38%, 11/01/24 (c)		605			370,162
Norman Regional Hospital Authority (RB)
3.25%, 09/01/29 (c)		340			235,970
4.00%, 09/01/26 (c)		150			127,156
4.00%, 09/01/29 (c)		2,000			1,562,804
5.00%, 09/01/29 (c)		7,155			6,722,663

	Par (000’s		)	Value
Oklahoma (continued)
Oklahoma County Finance Authority, Epworth Villa Project, Series A (RB)
5.00%, 12/01/22 (c)	$	825		$	495,000
5.00%, 04/01/23 (d) *		90			54,000
Oklahoma Development Finance Authority, OU Medicine Project, Series B (RB)
5.00%, 08/15/28 (c)		700			621,805
5.25%, 08/15/28 (c)		2,900			2,434,649
5.25%, 08/15/28 (c)		8,000			6,410,890
Oklahoma Development Finance Authority, OU Medicine Project, Series B (RB) (AGM)
5.50%, 08/15/28 (c)		1,300			1,065,099
5.50%, 08/15/28 (c)		1,435			1,151,873
Rogers County Industrial Development Authority (RB) 3.62%, 04/01/25 (c)		375			298,117
Tulsa County, Oklahoma Industrial Authority, Senior Living Community, Montereau, Inc. Project (RB) 5.25%, 11/15/25 (c)		2,050			1,955,176
Tulsa Municipal Airport Trust, American Airlines, Inc. (RB) 5.00%, 06/01/25 (c) (p)		4,455			4,439,913
Tulsa Municipal Airport Trust, American Airlines, Inc., Series B (RB) 5.50%, 06/01/23 (c)		2,100			2,103,666
					30,048,943
Oregon: 0.1%
Hospital Facilities Authority of Multnomah County Oregon (RB) (AGM)
4.00%, 12/01/28 (c)		1,000			820,777
4.00%, 12/01/28 (c)		2,000			1,524,565
Yamhill County Hospital Authority, Friendsview Retirement Community, Series A (RB) 5.00%, 11/15/24 (c)		1,000			807,427
					3,152,769
Pennsylvania: 3.7%
Allegheny County Airport Authority, Series A (RB) (AGM) 4.00%, 01/01/31 (c)		1,000			805,808
Allentown Neighborhood Improvement Zone Development Authority (RB)
5.00%, 05/01/27 (c)		2,000			1,715,425
5.00%, 05/01/27 (c)		250			234,761
5.00%, 05/01/28		1,000			967,711
5.00%, 05/01/28		785			757,233
5.00%, 05/01/28 (c)		250			232,343
5.38%, 05/01/28 (c)		4,000			3,543,282

	Par (000’s		)	Value
Pennsylvania (continued)
Berks County Industrial Development Authority, Tower Health Project (RB)
5.00%, 11/01/24	$	500		$	477,943
5.00%, 11/01/26		120			109,608
5.00%, 11/01/27 (c)		470			407,908
5.00%, 11/01/27 (c)		110			84,846
5.00%, 11/01/27 (c)		1,000			830,457
Berks County Municipal Authority, Reading Hospital and Medical Center Project, Series A (RB) 5.00%, 11/21/22 (c)		1,000			699,679
Berks County Municipal Authority, Tower Health Project (RB) 4.00%, 11/01/27 (c)		3,425			1,955,936
Berks County Municipal Authority, Tower Health Project, Series A (RB)
5.00%, 02/01/27		1,000			903,628
5.00%, 02/01/30		860			726,368
Berks County Municipal Authority, Tower Health Project, Series B-2 (RB) 5.00%, 02/01/27 (c) (p)		6,000			5,367,709
Berks County Municipal Authority, Tower Health Project, Series B-3 (RB) 5.00%, 02/01/30 (c) (p)		670			560,555
Bucks County Industrial Development Authority Hospital (RB)
4.00%, 07/01/31 (c)		1,000			698,924
5.00%, 07/01/31 (c)		1,500			1,205,009
Central Texas Regional Mobility Authority, Subordinated Lien, Series G (RB) 6.00%, 10/01/24 (c)		1,000			916,679
Chester County Health and Education Facilities Authority, Immaculata University Project (RB) 5.00%, 11/01/27 (c)		430			316,071
Chester County Health and Education Facilities Authority, Simpson Senior Services Project, Series A (RB) 5.25%, 12/01/25 (c)		440			378,911
Chester County Industrial Development Authority, Woodland at Greystone Project (SA)
5.00%, 03/01/28 (c)		1,300			1,205,188
5.12%, 03/01/28 (c)		4,989			4,429,686
City of Philadelphia, Pennsylvania Water and Wastewater (RB) 4.00%, 10/01/26 (c)		1,000			994,360

	Par (000’s		)	Value
Pennsylvania (continued)
City of Philadelphia, Series A (GO) 4.00%, 05/01/31 (c)	$	1,000		$	888,668
Commonwealth Financing Authority, Tobacco Master Settlement Payment (RB) (AGM) 4.00%, 06/01/28 (c)		1,000			911,933
County of Albemarle, Industrial Development Authority Environmental Improvement, United States Steel Corp. Project (RB) 4.88%, 11/01/24		1,500			1,491,702
County of Cumberland, Diakon Lutheran Social Ministries (RB) 4.00%, 01/01/25 (c)		185			170,945
Crawford County Hospital Authority, Meadville Medical Center Project, Series A (RB)
6.00%, 06/01/26 (c)		345			332,017
6.00%, 06/01/26 (c)		440			434,444
Cumberland County Municipal Authority (RB) 5.00%, 01/01/25 (c)		3,000			2,601,590
Dauphin County General Authority University, Harrisburg University of Science and Technology Project (RB)
5.00%, 10/15/27		500			489,698
6.25%, 10/15/28 (c)		3,200			3,085,536
Delaware County Authority, Eastern University (RB) 5.25%, 12/01/22 (c)		310			291,034
Delaware County Industrial Development Authority, Chester Community Charter School Project, Series A (RB) 5.12%, 06/01/26 (c)		395			346,259
Delaware River Port Authority, Port District Project (RB)
5.00%, 01/01/23 (c)		1,080			1,082,538
5.00%, 01/01/23 (c)		840			841,896
Delaware Valley, Pennsylvania Regional Finance Authority, Series A (RB) (AMBAC) 5.50%, 08/01/28		1,000			1,092,813
Erie Pennsylvania Higher Education Building Authority, Mercyhurst University Project (RB) 5.00%, 09/15/26 (c)		1,000			866,451
Franklin County Industrial Development Authority, Menno-Haven, Inc. Project (RB) 5.00%, 12/01/25 (c)		215			162,502

	Par (000’s		)	Value
Pennsylvania (continued)
5.00%, 12/01/25 (c)	$	500		$	389,260
Lancaster County Hospital Authority, Brethren Village Project (RB) 5.12%, 07/01/27 (c)		1,000			902,707
Lancaster County Hospital Authority, St. Anne’s Retirement Community, Inc. Project (RB)
5.00%, 03/01/27 (c)		425			358,862
5.00%, 03/01/27 (c)		425			333,168
5.00%, 03/01/27 (c)		310			250,595
Lancaster County, Penn State Health (RB) 5.00%, 11/01/29 (c)		1,000			1,009,947
Montgomery County Higher Education and Health Authority, Presbytery Homes, Inc. Project (RB) 5.00%, 12/01/24 (c)		2,000			1,826,704
Montgomery County Industrial Development Authority, Whitemarsh Continuing Care Retirement Community Project (RB)
5.00%, 01/01/25 (c)		150			145,338
5.25%, 01/01/25 (c)		870			811,187
5.38%, 01/01/25 (c)		820			741,521
Moon Industrial Development Authority, Baptist Homes Society (RB)
5.62%, 07/01/25 (c)		300			274,156
5.75%, 07/01/25 (c)		2,000			1,744,897
6.00%, 07/01/25 (c)		590			488,623
Northampton County Industrial Development Authority, Morningstar Senior Living, Inc. Project (RB) 5.00%, 11/01/26 (c)		1,000			882,678
Pennsylvania Economic Development Financing Authority, Tapestry Moon Senior Housing Project, Series A (RB)
6.50%, 12/01/28 (c) (d) *		3,040			1,155,200
6.75%, 12/01/28 (c) (d) *		6,470			2,458,600
Pennsylvania Economic Development Financing Authority, The Pennsylvania Rapid Bridge Replacement Project (RB)
4.12%, 06/30/26 (c)		1,685			1,413,459
5.00%, 12/31/23		125			126,347
5.00%, 12/31/24		550			553,222
5.00%, 12/31/25		1,105			1,112,779
5.00%, 06/30/26 (c)		1,485			1,494,137
5.00%, 06/30/26 (c)		500			464,771
5.00%, 06/30/26 (c)		410			408,583
5.00%, 06/30/26 (c)		575			575,921

	Par (000’s		)	Value
Pennsylvania (continued)
Pennsylvania Higher Educational Facilities Authority, Delaware Valley College of Science and Agriculture Project, Series LL (RB)
4.00%, 11/01/22 (c)	$	425		$	425,000
5.00%, 11/01/22 (c)		250			250,000
Pennsylvania Higher Educational Facilities Authority, La Salle University (RB)
5.00%, 12/01/22 (c)		1,915			1,669,073
5.00%, 12/01/22 (c)		1,000			835,533
Pennsylvania Higher Educational Facilities Authority, Thomas Jefferson University, Series A (RB) 5.25%, 03/01/25 (c)		3,825			3,760,970
Pennsylvania Turnpike Commission, Turnpike Subordinate Bonds, Series A (RB) 3.00%, 12/01/30 (c)		1,000			701,414
Pennsylvania Turnpike Commission, Turnpike Subordinate Bonds, Series B (RB) 4.00%, 12/01/31 (c)		1,625			1,341,211
Philadelphia Authority for Industrial Development Multifamily Housing, University Square Apartments Project-Project Based Section 8 (RB) 5.00%, 12/01/26 (c)		1,000			919,820
Philadelphia Authority for Industrial Development, Alliance For Progress Chapter School, Inc. Project, Series A (RB) (AGM) 5.00%, 06/15/26 (c)		2,770			2,393,980
Philadelphia Authority for Industrial Development, First Philadelphia Preparatory Charter School Project, Series A (RB) 7.25%, 06/15/24 (c)		1,000			1,039,085
Philadelphia Authority for Industrial Development, Greater Philadelphia Health Action, Inc. Project, Series A (RB)
6.38%, 06/01/25 (c)		440			415,367
6.50%, 06/01/25 (c)		440			416,136
6.62%, 06/01/25 (c)		415			394,616

	Par (000’s		)	Value
Pennsylvania (continued)
Philadelphia Authority for Industrial Development, Independence Charter School West Project (RB) 5.00%, 12/15/26 (c)	$	355		$	319,341
Philadelphia Authority for Industrial Development, Independence Charter School West Project (RB) (SAW) 4.00%, 12/15/26 (c)		350			322,279
Philadelphia Authority for Industrial Development, Performing Arts, String Theory Charter School Project (RB)
5.00%, 06/15/28 (c)		1,000			837,619
5.00%, 06/15/28 (c)		500			447,041
Philadelphia Authority for Industrial Development, Temple University (RB) 5.00%, 04/01/25 (c)		3,000			3,077,098
Philadelphia Authority for Industrial Development, Temple University, First Series (RB) 5.00%, 04/01/25 (c)		3,000			3,032,940
Philadelphia Authority for Industrial Development, Wesley Enhanced Living Obligation Group, Series A (RB) 5.00%, 07/01/27 (c)		735			665,032
Philadelphia Hospitals and Higher Education Facilities Authority, Temple University Health System (RB) 5.00%, 07/01/27 (c)		1,000			1,011,391
Philadelphia Hospitals and Higher Education Facilities Authority, Temple University Health System, Series A (RB)
5.00%, 07/01/27 (c)		220			223,379
5.00%, 07/01/27 (c)		1,240			1,263,800
School District of Philadelphia, Series A (GO) (AGM-CR FGIC ST AID WITHHLDG) 5.00%, 06/01/24		1,010			1,031,771
Scranton Pennsylvania (GO) 5.00%, 05/15/24 (c)		1,000			980,665
Scranton Redevelopment Authority, Series A (RB) 5.00%, 05/15/24 (c)		250			234,240
Scranton-Lackawanna, Pennsylvania Health and Welfare Authority (RB) 5.00%, 06/01/26 (c)		1,500			1,372,356

	Par (000’s		)	Value
Pennsylvania (continued)
Susquehanna Area Regional Airport Authority, Series B (RB) 4.00%, 01/01/23 (c)	$	1,710		$	1,594,525
Westmoreland County Industrial Development Authority, Excela Health Project, Series A (RB) 5.00%, 07/01/29		1,450			1,495,585
					98,009,983
Puerto Rico: 6.8%
Cofina Class 2 Trust (RB) (AMBAC) 0.00%, 08/01/47 ^		80			27,928
Puerto Rico Commonwealth Aqueduct and Sewer Authority, Series A (RB)
4.00%, 07/01/31 (c)		7,365			5,641,914
5.00%, 07/01/30		7,500			7,186,060
5.00%, 07/01/30 (c)		9,000			7,713,286
5.00%, 07/01/30 (c)		1,250			1,148,937
5.00%, 07/01/32 (c)		6,290			5,685,138
6.12%, 07/01/24		105			106,396
Puerto Rico Commonwealth, Series A-1 (GO)
4.00%, 07/01/31 (c)		12,010			9,165,041
4.00%, 07/01/31 (c)		12,000			8,741,517
Puerto Rico Commonwealth, Series A-1 (GO) (BAM-TCRS)
4.00%, 07/01/31 (c)		8,570			7,269,846
4.00%, 07/01/31 (c)		12,000			9,574,661
4.00%, 07/01/31 (c)		11,500			9,425,486
5.62%, 07/01/27		4,000			4,033,065
5.62%, 07/01/29		3,000			3,022,331
5.75%, 07/01/31		10,399			10,482,722
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Series A (RB) 6.62%, 12/01/22 (c)		100			103,564
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, University Plaza Project, Series A (RB) (NATL) 5.00%, 01/01/23 (c)		20			19,169
Puerto Rico Sales Tax Financing Corp., Series A-1 (RB)
0.01%, 07/01/24		5,772			5,306,708
4.50%, 07/01/25 (c)		5,000			4,545,700
5.00%, 07/01/28 (c)		26,070			22,419,890
Puerto Rico Sales Tax Financing Corp., Series A-1 (RB) (AGC) 4.55%, 07/01/28 (c)		6,662			5,762,086

	Par (000’s		)	Value
Puerto Rico (continued)
Puerto Rico Sales Tax Financing Corp., Series A-1 (RB) (AMBAC) 4.75%, 07/01/28 (c)	$	21,399		$	17,901,308
Puerto Rico Sales Tax Financing Corp., Series A-2 (RB)
4.33%, 07/01/28 (c)		10,960			9,219,588
4.33%, 07/01/28 (c)		17,508			14,727,787
4.55%, 07/01/28 (c)		6,432			5,563,155
4.78%, 07/01/28 (c)		7,181			5,947,084
					180,740,367
Rhode Island: 0.3%
Rhode Island Health and Educational Building Corp., Care New England Issue, Series B (RB)
5.00%, 09/01/26		100			98,801
5.00%, 09/01/26 (c)		3,750			3,185,328
Rhode Island Health and Educational Building Corp., Care New England, Series B (RB) 5.00%, 09/01/26 (c)		500			453,227
Rhode Island Health and Educational Building Corp., Lifespan Obligated Group Issue (RB)
5.00%, 05/15/26 (c)		690			650,402
5.00%, 05/15/26 (c)		1,000			984,334
Tobacco Settlement Financing Corp., Series A (RB) 5.00%, 06/01/25 (c)		1,650			1,603,687
Tobacco Settlement Financing Corp., Series B (RB) 5.00%, 06/01/25 (c)		2,000			1,874,956
					8,850,735
South Carolina: 0.4%
Berkeley County, South Carolina Nexton Improvement District (SA) 4.38%, 11/01/29 (c)		800			599,423
South Carolina Jobs-Economic Development Authority, Hampton Medical Center Project (RB)
5.00%, 11/01/24 (c)		500			484,916
5.00%, 11/01/24 (c)		650			603,526
South Carolina Jobs-Economic Development Authority, High Point Academy Project, Series A (RB)
5.75%, 12/15/26 (c)		500			500,869
5.75%, 12/15/26 (c)		500			486,034
South Carolina Jobs-Economic Development Authority, South Carolina Episcopal Home at Still Hopes (RB) 5.00%, 04/01/25 (c)		5,000			4,041,093

	Par (000’s		)	Value
South Carolina (continued)
South Carolina Jobs-Economic Development Authority, South Carolina Episcopal Home at Still Hopes, Series A (RB) (AGM) 5.00%, 04/01/24 (c)	$	1,000		$	804,065
South Carolina Jobs-Economic Development Authority, The Lutheran Homes of South Carolina, Inc. (RB) 5.00%, 05/01/23 (c)		320			257,406
South Carolina Jobs-Economic Development Authority, The Woodlands at Furman (RB) 4.00%, 11/15/24 (c)		305			288,443
South Carolina Ports Authority (RB) 5.25%, 07/01/25 (c)		1,515			1,576,037
South Carolina Public Service Authority, Series A (RB) (BAM-TCRS) 4.00%, 12/01/30 (c)		1,000			885,880
					10,527,692
South Dakota: 0.2%
City of Sioux Falls, Dow Rummel Village Project (RB)
5.00%, 11/01/26 (c)		750			630,251
5.00%, 11/01/26 (c)		500			419,570
County of Lincoln, South Dakota Economic Development, Augustana College Association Project, Series A (RB)
4.00%, 08/01/31 (c)		1,100			761,165
4.00%, 08/01/31 (c)		1,550			1,113,636
South Dakota Health and Educational Facilities Authority (RB) 5.00%, 09/01/27 (c)		1,950			1,936,060
South Dakota Health and Educational Facilities Authority, Series B (RB) 5.00%, 11/01/24 (c)		1,000			948,619
					5,809,301
Tennessee: 0.7%
Blount County, Health and Educational Facilities Board, Series A (RB) 5.00%, 01/01/25 (c)		740			437,207
Bristol Industrial Development Board, Pinnacle Project, Series A (RB)
5.00%, 12/01/26 (c)		2,000			1,838,058
5.12%, 12/01/26 (c)		1,000			896,706
Chattanooga Health, Educational and Housing Facility Board, Series A-2 (RB) 5.00%, 08/01/29 (c)		310			296,050

	Par (000’s		)	Value
Tennessee (continued)
Chattanooga-Hamilton County Hospital, Erlanger Health System, Series A (RB) 5.00%, 10/01/24 (c)	$	850		$	808,469
Knox County Health Educational and Housing Facility Board (RB)
4.00%, 09/01/26 (c)		290			226,049
4.00%, 09/01/26 (c)		295			243,045
5.00%, 04/01/27 (c)		645			645,886
Shelby County, Tennessee Health, Educational and Housing Facility Board, The Farms at Bailey Station, Series A (RB)
5.50%, 10/01/25 (c)		250			221,978
5.75%, 10/01/25 (c)		1,595			1,361,576
5.75%, 10/01/25 (c)		5,755			4,705,713
Tennessee Energy Acquisition Corp., Series B (RB) 5.62%, 09/01/26		7,000			7,264,553
The Health, Educational and Housing Facility Board of the City of Chattanooga, CommonSpirit Health, Series A-1 (RB) 4.00%, 08/01/29 (c)		200			174,053
					19,119,343
Texas: 5.4%
Angelina and Neches River Authority, Industrial Development Corp., Solid Waste Disposal and Wastewater Treatment Facilities, Series A (RB) 7.50%, 06/01/28 (c)		1,500			1,106,573
Austin Convention Enterprises, Inc., Convention Center Hotel, First Tier, Series A (RB) (SAW) 5.00%, 01/01/27		280			280,996
Austin Convention Enterprises, Inc., Convention Center Hotel, Second Tier, Series B (RB)
5.00%, 01/01/26		715			703,363
5.00%, 01/01/27 (c)		500			462,209
Board of Managers, Joint Guadalupe County, City of Seguin Hospital (RB)
5.00%, 12/01/25 (c)		610			551,161
5.00%, 12/01/25 (c)		215			188,355
5.25%, 12/01/25 (c)		700			693,781
Brazoria County Industrial Development Corp., Texas Solid Waste Disposal Facilities, Gladieux Recycling, LLC Project (RB) (SAW) 8.50%, 03/01/26 (c)		5,320			4,602,976

	Par (000’s		)	Value
Texas (continued)
Brazoria County Industrial Development Corp., Texas Solid Waste Disposal Facilities, Gladieux Recycling, LLC Project (RB) (SBG) 7.00%, 03/01/26 (c)	$	1,850		$	1,653,376
Calhoun County Navigation Industrial Development Authority, Max Midstream Texas LLC Project, Series A (RB) 3.62%, 07/01/24 (c)		2,700			2,392,147
Central Texas Regional Mobility Authority, Subordinated Lien, Series G (RB)
4.00%, 01/01/30 (c)		5,690			4,449,116
4.00%, 01/01/30 (c)		1,500			1,230,811
Central Texas Turnpike System, Series C (RB) 5.00%, 08/15/24		775			790,106
City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Series A (RB) 4.00%, 07/01/29 (c)		1,220			940,159
City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Series B-1 (RB)
4.00%, 07/15/29 (c)		1,645			1,267,236
5.00%, 07/15/25 (c)		650			613,129
City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Series C (RB)
5.00%, 07/15/27		3,140			3,122,894
5.00%, 07/15/28		2,000			1,980,379
City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Technical Operations Center Project (RB) 5.00%, 07/15/28		1,000			990,189
City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Terminal E Project (RB) 4.75%, 07/01/24		3,010			2,997,022
City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Terminal Improvement Projects, Series B-1 (RB) 5.00%, 07/15/25 (c)		2,600			2,563,898
City of Houston, Texas Airport System, Series A (RB) 4.00%, 07/01/31 (c)		1,600			1,315,421

	Par (000’s		)	Value
Texas (continued)
City of Justin, Timberbrook Public Improvement District No. 1 Project (SA) 4.00%, 09/01/31 (c)	$	1,000		$	749,091
City of Liberty, Butler Farms Public Improvement District Project (SA) 4.00%, 09/01/32 (c)		1,000			752,282
City of New Braunfels, Utility System (RB) 4.00%, 07/01/28 (c)		5			4,293
Clifton Higher Education Finance Corp., Series A (RB)
5.12%, 08/15/25 (c)		730			716,407
5.50%, 08/15/25 (c)		610			605,525
Clifton Higher Education Finance Corp., Series D (RB)
5.75%, 08/15/25 (c)		500			503,782
6.00%, 08/15/25 (c)		500			505,171
Conroe Local Government Corp., Conroe Convention Center Hotel, Series A (RB) 4.00%, 10/01/31 (c)		2,035			1,487,706
Dallas County Flood Control District No. 1 (GO) 5.00%, 04/01/23 (c)		850			815,763
El Paso County Hospital District (GO) 5.00%, 08/15/23 (c)		4,680			4,683,527
Gulf Coast Industrial Development Authority, CITGO Petroleum Corp. Project (RB) 4.88%, 12/01/22 (c)		2,265			2,215,395
Harris County, Houston Sports Authority, Junior Lien, Series H (RB) (NATL)
0.00%, 11/15/23 ^		250			238,438
0.00%, 11/15/23 ^		675			651,226
0.00%, 11/15/27 ^		590			461,950
0.00%, 11/15/31 (c) ^		120			58,049
0.00%, 11/15/31 (c) ^		145			53,892
0.00%, 11/15/31 (c) ^		170			59,051
0.01%, 11/15/25		495			428,822
0.01%, 11/15/29		1,405			992,140
0.01%, 11/15/30		115			77,014
0.01%, 11/15/31 (c)		350			148,790
0.01%, 11/15/31 (c)		1,140			369,508
0.01%, 11/15/31 (c)		705			417,688
Harris County, Houston Sports Authority, Third Lien, Series A-3 (RB) (NATL)
0.00%, 11/15/24 (c) ^		100			59,943
0.00%, 11/15/24 (c) ^		335			157,583
Love Field Airport Modernization Corp., Southwest Airlines Co. (RB) 5.00%, 12/01/22 (c)		3,000			3,001,880

	Par (000’s		)	Value
Texas (continued)
Lower Colorado River Authority (RB) 5.00%, 05/15/23 (c)	$	2,000		$	2,012,636
Matagorda County Navigation District No. 1, Series A (RB) (AMBAC) 4.40%, 05/01/30		1,035			1,015,770
Mesquite Health Facility Development Corp., Christian Care Centers, Inc. Project (RB) (NATL)
5.12%, 02/15/24 (c) (d) *		700			581,000
5.12%, 02/15/24 (c) (d) *		2,680			2,224,400
Mission Economic Development Corp., Senior Lien, Natgasoline Project (RB) 4.62%, 11/21/22 (c)		11,500			10,844,367
Montgomery County Toll Road Authority (RB) 5.00%, 09/15/25 (c)		1,000			940,520
New Hope Cultural Education Facilities Finance Corp., 4-K Housing, Inc. Stoney Brook Project, Series B (RB) 5.00%, 07/01/25 (c)		235			105,750
New Hope Cultural Education Facilities Finance Corp., Cardinal Bay, Inc., Series C (RB) 5.50%, 07/01/26 (c)		1,595			797,500
New Hope Cultural Education Facilities Finance Corp., Carillon Lifecare Community Project (RB) 5.00%, 07/01/24 (c)		230			183,358
New Hope Cultural Education Facilities Finance Corp., Legacy Preparatory Charter Academy, Series A (RB) 5.25%, 02/15/23 (c)		190			189,905
New Hope Cultural Education Facilities Finance Corp., Morningside Ministries Project (RB) (SAW) 6.25%, 01/01/23 (c)		100			100,452
New Hope Cultural Education Facilities Finance Corp., MRC Senior Living - The Langford Project, Series A (RB)
5.38%, 11/15/26 (c)		975			841,064
5.50%, 11/15/26 (c)		750			608,880
New Hope Cultural Education Facilities Finance Corp., NCCD-College Station Properties LLC, Series A (RB)
5.00%, 07/01/24		115			97,750
5.00%, 07/01/25 (c)		100			85,000
5.00%, 07/01/25 (c)		440			374,000

	Par (000’s		)	Value
Texas (continued)
New Hope Cultural Education Facilities Finance Corp., Presbyterian Village North Project (RB) 5.25%, 10/01/25 (c)	$	200		$	164,050
New Hope Cultural Education Facilities Finance Corp., Quality Senior Housing Foundation of East Texas, Series A-1 (RB)
5.00%, 12/01/26 (c)		2,045			1,701,574
5.00%, 12/01/26 (c)		1,000			815,965
New Hope Cultural Education Facilities Finance Corp., Sanctuary LTC Project, Series A-1 (RB) 5.50%, 01/01/28 (c)		8,045			5,964,582
New Hope Cultural Education Facilities Finance Corp., Wesleyan Homes, Inc. Project (RB)
5.00%, 01/01/26 (c)		250			174,221
5.00%, 01/01/26 (c)		250			178,809
North East Texas Regional Mobility Authority, Series A (RB) 5.00%, 01/01/26 (c)		1,050			952,143
North East Texas Regional Mobility Authority, Series B (RB) 5.00%, 01/01/26 (c)		400			366,316
Port Beaumont Navigation District, Allegiant Industrial Island Park Project (RB) 8.00%, 02/01/26 (c)		2,825			2,612,668
Port Beaumont Navigation District, Jefferson Gulf Coast Energy Project, Series A (RB) 2.75%, 07/01/23 (c)		1,955			1,331,924
Port Beaumont Navigation District, Jefferson Gulf Coast Energy Project, Series A (RB) (BAM) 3.62%, 12/01/22 (c)		2,095			1,619,116
Pottsboro Higher Education Finance Corp., Imagine International Academy of North Texas LLC, Series A (RB)
5.00%, 08/15/26 (c)		400			365,614
5.00%, 08/15/26 (c)		400			341,986
Reagan Hospital District, Series A (GO) 5.12%, 02/01/24 (c)		1,000			1,006,528
San Antonio Education Facilities Corp., University of Incarnate Word Project, Series A (RB) 4.00%, 04/01/31 (c)		1,000			730,422

	Par (000’s		)	Value
Texas (continued)
Sanger Industrial Development Corp., Texas Pellets Project, Series B (RB) 8.00%, 12/01/22 (c) (d) *	$	9,900		$	2,475,000
Tarrant County Cultural Education Facilities Finance Corp., Air Force Villages Obligated Group Project (RB) 5.00%, 05/15/24 (c)		125			113,777
Tarrant County Cultural Education Facilities Finance Corp., C.C. Young Memorial Home Project, Series A (RB) 6.38%, 02/15/27 (c) (d) *		535			347,750
Tarrant County Cultural Education Facilities Finance Corp., Trinity Terrace Project, Series A-1 (RB) 5.00%, 10/01/24 (c)		2,090			1,939,686
Texas Municipal Gas Acquisition & Supply Corp. III (RB)
5.00%, 12/15/29		1,375			1,392,986
5.00%, 12/15/31		1,670			1,679,850
5.00%, 12/15/32		2,120			2,122,264
Texas Municipal Gas Acquisition and Supply Corp. III (RB) 5.00%, 12/15/28		925			937,655
Texas Private Activity Bond Surface Transportation Corp., Blueridge Transportation Group LLC Project (RB)
5.00%, 12/31/25 (c)		230			226,192
5.00%, 12/31/25 (c)		250			233,676
5.00%, 12/31/25 (c)		460			439,461
Texas Private Activity Bond Surface Transportation Corp., Managed Lanes Project, Series A (RB)
4.00%, 12/31/30 (c)		1,700			1,453,201
4.00%, 12/31/30 (c)		3,175			2,736,914
Texas Private Activity Bond Surface Transportation Corp., NTE Mobility Partners LLC Project (RB)
5.00%, 06/30/29 (c)		10,120			9,043,897
6.75%, 09/01/23 (c)		5,000			5,089,065
7.00%, 09/01/23 (c)		515			525,845
Texas Private Activity Bond Surface Transportation Corp., NTE Mobility Partners LLC Project, Series A (RB)
4.00%, 12/31/29 (c)		500			430,632
5.00%, 12/31/29 (c)		1,300			1,277,160

	Par (000’s		)	Value
Texas (continued)
Texas Transportation Commission, Central Texas Turnpike System, Series C (RB)
5.00%, 08/15/24 (c)	$	1,500		$	1,505,101
5.00%, 08/15/24 (c)		850			857,724
5.00%, 08/15/24 (c)		7,360			7,409,883
5.00%, 08/15/24 (c)		600			606,641
Town of Westlake, Solana Public Improvement District (SA)
6.12%, 09/01/25 (c)		1,000			950,970
6.25%, 09/01/25 (c)		1,000			930,879
6.38%, 09/01/25 (c)		1,000			927,153
Woodloch Health Facilities Development Corp., Series A-1 (RB) 6.75%, 12/01/24 (c) (d) *		4,980			3,000,450
					143,092,295
Utah: 0.5%
Mida Mountain Village Public Infrastructure District, Mountain Village Assessment Area #2 (SA) 4.00%, 08/01/31 (c)		5,000			3,564,065
Mida Mountain Village Public Infrastructure District, Mountain Village Assessment Area, Series A (SA)
4.50%, 08/01/30 (c)		2,500			2,160,312
5.00%, 08/01/30 (c)		4,000			3,394,512
Military Installation Development Authority, Utah Tax Allocation, Series A-1 (RB) 4.00%, 09/01/26 (c)		1,250			865,184
Utah Charter School Finance Authority, Freedom Academy Foundation Project (RB)
5.25%, 06/15/27 (c)		1,500			1,387,273
5.38%, 06/15/27 (c)		2,195			1,915,763
					13,287,109
Vermont: 0.0%
Vermont Economic Development Authority, Wake Robin Corp. Project, Series A (RB) (FHLMC COLL) 4.00%, 05/01/28 (c)		500			389,722
Virgin Islands: 0.7%
Matching Fund Special Purpose Securitization Corp., Virgin Island, Series A (RB)
5.00%, 10/01/30		1,500			1,518,611
5.00%, 10/01/32 (c)		6,750			6,655,765
5.00%, 10/01/32		2,210			2,226,578
Virgin Islands Public Finance Authority, Virgin Islands Gross Receipts Taxes Loan Note (RB) (NATL) 4.25%, 12/01/22 (c)		720			727,437

	Par (000’s		)	Value
Virgin Islands (continued)
Virgin Islands Public Finance Authority, Virgin Islands Gross Receipts Taxes Loan Note, Series C (RB)
4.50%, 10/01/24 (c)	$	550		$	435,114
5.00%, 10/01/24 (c)		4,250			3,744,713
Virgin Islands Public Finance Authority, Virgin Islands Gross Receipts Taxes, Series C (RB) 5.00%, 10/01/24 (c)		1,000			940,855
Virgin Islands Water & Power Authority, Series B (RB)
5.00%, 12/01/22 (c)		170			156,580
5.00%, 12/01/22 (c)		330			323,869
5.00%, 12/01/22 (c)		65			62,455
5.00%, 12/01/22 (c)		1,070			998,375
5.00%, 12/01/22 (c)		1,170			1,107,216
					18,897,568
Virginia: 1.8%
Albemarle County, Virginia Economic Development Authority, Series A (RB) 5.00%, 01/01/23 (c)		1,345			1,348,642
Bristol Industrial Development Authority, Series B (RB) 6.35%, 11/01/24 (c) (d) *		250			140,669
Cherry Hill Community Development Authority, Potomac Shores Project (SA)
5.15%, 03/01/25 (c)		200			190,847
5.40%, 03/01/25 (c)		495			460,977
Chesapeake Bay Bridge and Tunnel District, First Tier (RB)
5.00%, 11/01/23		1,000			1,011,333
5.00%, 07/01/26 (c)		1,025			1,030,219
5.00%, 07/01/26 (c)		6,000			6,041,253
City of Chesapeake, Chesapeake Transportation System, Series A (RB) 5.00%, 12/01/22 (c)		380			380,147
City of Hopewell, Sewer System, Series A (RB) 5.00%, 12/01/22 (c)		240			233,846
Farms New Kent Community Development Authority, Series A (SA) 3.75%, 03/01/31 (c)		4,570			4,058,112
Farmville Industrial Development Authority, Educational Facilities, Longwood University Student Housing Projects, Series A (RB)
5.00%, 07/01/30 (c)		1,500			1,321,898
5.00%, 07/01/30 (c)		1,000			854,198

	Par (000’s		)	Value
Virginia (continued)
Hampton Roads Transportation Accountability Commission (RB) 5.00%, 07/01/26	$	1,395		$	1,464,143
Norfolk Redevelopment & Housing Authority, Fort Norfolk Retirement Community, Series A (RB) 5.00%, 01/01/24 (c)		1,000			949,023
Peninsula Town Center Community Development Authority (RB)
5.00%, 09/01/27 (c)		500			446,374
5.00%, 09/01/27 (c)		2,760			2,355,701
Riverside County Transportation Commission, Series A (RB) 5.38%, 09/01/26 (c)		3,500			2,314,574
Roanoke County Economic Development Authority, Series B (RB) 4.62%, 09/01/29 (c) (d) (p) *		1,000			814,415
Roanoke Economic Development Authority, Residential Care Facility (RB) 5.00%, 09/01/27 (c)		500			345,430
Virginia College Building Authority, Marymount University Project, Series A (RB)
5.00%, 07/01/25 (c)		2,500			2,233,725
5.00%, 07/01/25 (c)		1,000			951,093
Virginia College Building Authority, Marymount University Project, Series B (RB) 5.25%, 07/01/25 (c)		2,300			2,300,393
Virginia Small Business Financing Authority, Elizabeth River Crossing OPCO, LLC Project (RB) 3.00%, 01/01/32 (c)		2,000			1,396,964
Virginia Small Business Financing Authority, Senior Lien 95 Express Lanes, LLC Project (RB)
4.00%, 01/01/32 (c)		1,000			818,736
4.00%, 01/01/32 (c)		3,925			2,983,527
4.00%, 01/01/32 (c)		1,250			1,039,592
4.00%, 01/01/32 (c)		1,000			815,880
5.00%, 01/01/32 (c)		500			502,936
Virginia Small Business Financing Authority, Senior Lien I-495 Hot Lanes Project (RB) 5.00%, 12/31/32 (c)		2,000			1,905,943

	Par (000’s		)	Value
Virginia (continued)
Virginia Small Business Financing Authority, Senior Lien Transform 66 P3 Project (RB) 5.00%, 06/30/27 (c)	$	3,000		$	2,706,077
Virginia Small Business Financing Authority, Solid Waste Disposal Facility (RB) 5.00%, 07/01/38 (c) (p)		4,000			3,559,779
Wise County Industrial Development Authority, Virginia Electric and Power Co. Project, Series A (RB) (AGC) 0.75%, 09/02/25 (p)		1,000			912,240
					47,888,686
Washington: 1.3%
Kalispel Tribe Indians Priority, Series A (RB)
5.00%, 01/01/28 (c)		250			258,088
5.25%, 01/01/28 (c)		250			258,615
King County Public Hospital District No. 4, Snoqualmie Valley Hospital, Series A (RB)
5.75%, 12/01/25 (c)		500			501,157
6.00%, 12/01/25 (c)		500			502,130
6.25%, 12/01/25 (c)		250			251,527
Washington Health Care Facilities Authority, CommonSpirit Health, Series A-1 (RB) 4.00%, 08/01/29 (c)		100			80,752
Washington Health Care Facilities Authority, Virginia Mason Medical Center (RB) 5.00%, 08/15/27 (c)		205			205,667
Washington State Convention Center Public Facilities District, Series B (RB)
3.00%, 07/01/31 (c)		1,000			777,420
3.00%, 07/01/31 (c)		2,500			1,363,830
3.00%, 07/01/31 (c)		3,000			1,782,987
3.00%, 07/01/31 (c)		4,400			2,400,342
4.00%, 07/01/31 (c)		3,745			2,794,581
4.00%, 07/01/31 (c)		5,945			4,227,532
Washington State Housing Finance Commission, Bayview Manor Senior Project, Series A (RB)
5.00%, 07/01/24 (c)		2,000			1,544,350
5.00%, 07/01/24 (c)		150			127,873
Washington State Housing Finance Commission, Eliseo Project, Series A (RB) 4.00%, 01/01/28 (c)		1,000			761,546

	Par (000’s		)	Value
Washington (continued)
Washington State Housing Finance Commission, Presbyterian Retirement Communities Northwest Projects, Series A (RB)
5.00%, 01/01/25 (c)	$	2,495		$	1,906,911
5.00%, 01/01/25 (c)		825			709,349
Washington State Housing Finance Commission, Transforming Age Projects, Series A (RB) 5.00%, 07/01/26 (c)		7,000			5,218,087
Washington State Housing Finance Commission, Wesley Homes at Lea Hill Project (RB)
5.00%, 07/01/26 (c)		1,250			992,630
5.00%, 07/01/26 (c)		500			407,380
Washington State, Convention Center Public Facilities District (RB) 4.00%, 07/01/31		6,700			5,793,208
Washington State, Convention Center Public Facilities District, Series B (RB) (AGM) 4.00%, 07/01/31 (c)		1,000			914,075
Washington State, Housing Finance Commission, Presbyterian Retirement Communities Northwest Projects, Series A (RB) 3.75%, 07/01/26		115			107,780
					33,887,817
West Virginia: 0.5%
County of Ohio, Fort Henry Centre Tax Increment Financing District No. 1, The Highlands Project (TA)
3.00%, 12/01/22 (c)		140			133,716
4.00%, 12/01/22 (c)		760			661,660
Harrison County Building Commission, General Services Administration Building Project (RB)
3.12%, 10/01/27 (c)		700			446,121
3.25%, 10/01/27 (c)		820			510,931
3.50%, 10/01/27 (c)		1,000			782,601
Monongalia County Commission Excise Tax District, Series A (RB) 4.12%, 06/01/31 (c)		2,500			2,068,740
West Virginia Economic Development Authority, Arch Resources Project (RB) 5.00%, 07/01/25 (c) (p)		5,000			4,940,885
West Virginia Economic Development Authority, Arch Resources Project (RB) (SAW) 4.12%, 07/01/25 (c) (p)		2,350			2,269,102

	Par (000’s		)	Value
West Virginia (continued)
West Virginia Hospital finance Authority, Cabell Huntington Hospital, Series A (RB) 5.00%, 01/01/29 (c)	$	1,000		$	929,944
					12,743,700
Wisconsin: 2.4%
Public Finance Authority Educational Facilities, Charter Day School, Inc. Project, Series A (RB) 5.00%, 12/01/27 (c)		2,500			2,071,209
Public Finance Authority Health Care Facilities, Appalachian Regional Healthcare System, Series A (RB) 4.00%, 01/01/31 (c)		1,100			845,476
Public Finance Authority Hospital, Carson Valley Medical Center, Series A (RB) (SAW) 4.00%, 12/01/31 (c)		5,250			3,814,619
Public Finance Authority, American Preparatory Academy, Series A (RB) 5.38%, 07/15/27 (c)		1,000			921,126
Public Finance Authority, Bancroft Neurohealth Project, Series A (RB) 5.12%, 06/01/26 (c)		250			217,168
Public Finance Authority, Cornerstone Charter Academy, Series A (RB)
5.00%, 02/01/26 (c)		495			451,422
5.12%, 02/01/26 (c)		500			433,672
Public Finance Authority, Corvian Community School Project, Series A (RB)
4.25%, 06/15/24 (c)		460			423,860
5.00%, 06/15/26 (c)		500			437,800
5.00%, 06/15/26 (c)		500			408,305
Public Finance Authority, Educational Facilities, Charter Day School, Inc. Project (RB)
5.00%, 12/01/27 (c)		500			430,382
5.00%, 12/01/27 (c)		1,390			1,288,965
Public Finance Authority, Educational Facilities, Lake Erie College Project, Series A (RB) 5.88%, 10/01/29 (c)		1,000			756,934
Public Finance Authority, Grand Hyatt San Antonio Hotel Acquisition Project, Series A (RB)
5.00%, 02/01/32 (c)		3,500			2,873,419
5.75%, 02/01/32 (c)		1,000			844,733

	Par (000’s		)	Value
Wisconsin (continued)
Public Finance Authority, Healthcare Facility Expansion, Church Home of Hartford, Inc. Project, Series A (RB)
5.00%, 09/01/24 (c)	$	1,500		$	1,304,930
5.00%, 09/01/25		75			73,793
Public Finance Authority, Higher Educational Facilities, Wittenberg University Project (RB) 5.25%, 12/01/24 (c)		1,500			1,343,803
Public Finance Authority, Living Community First Mortgage (RB)
4.25%, 05/01/27 (c)		415			362,342
5.00%, 03/01/28 (c)		1,250			1,112,083
Public Finance Authority, Lombard Conference and Hotel Center, Second-Tier (RB) (ACA) 3.75%, 03/15/28 (c) (d) *		890			409,077
Public Finance Authority, Maryland Proton Treatment Center, Series A-1 (RB) 6.25%, 01/01/28 (c)		500			307,500
Public Finance Authority, McLemore Hotel & Conference Center, Series A (RB) 4.50%, 06/01/28 (c)		4,000			2,688,976
Public Finance Authority, North Carolina Charter Educational Foundation Project, Series A (RB) 5.00%, 06/15/26 (c)		1,000			819,269
Public Finance Authority, Penick Village (RB)
4.00%, 09/01/26 (c)		425			367,320
5.00%, 09/01/26 (c)		500			408,814
5.00%, 09/01/26 (c)		500			375,772
Public Finance Authority, Prime Healthcare Foundation, Inc., Series A (RB) 5.20%, 12/01/27 (c)		1,555			1,565,525
Public Finance Authority, Rider University Project, Series A (RB) 4.50%, 01/01/31 (c)		2,920			2,204,156
Public Finance Authority, Roseman University of Health Sciences Project (RB)
4.00%, 04/01/32 (c)		1,250			846,073
5.88%, 04/01/25 (c)		1,000			963,197
Public Finance Authority, Sky Harbour Capital LLC, Aviation Facilities Project (RB)
4.00%, 07/01/31 (c)		500			353,904
4.00%, 09/01/31 (c)		1,500			1,029,666
4.25%, 07/01/31 (c)		1,765			1,152,506

	Par (000’s		)	Value
Wisconsin (continued)
Public Finance Authority, The Foundation of the University of North Carolina, Inc., Series A (RB) 4.00%, 09/01/31 (c)	$	1,060		$	705,982
Public Finance Authority, Triad Educational Services, Inc., Series A (RB) 5.50%, 06/15/25 (c)		300			303,390
Public Finance Authority, Trinity Regional Hospital Sachse, Series A-1 (RB) 7.38%, 01/01/30 (c)		4,265			3,391,632
Public Finance Authority, Ultimate Medical Academy Project, Series A (RB)
5.00%, 10/01/29 (c)		2,000			1,844,193
5.00%, 10/01/29 (c)		1,950			1,727,405
Public Finance Authority, University of North Carolina at Charlotte Inc., Series A (RB) 4.00%, 09/01/31 (c)		1,000			765,538
Public Finance Authority, Wisconsin Senior Airport Facilities, Series B (RB) 5.00%, 12/01/22 (c)		7,000			6,570,252
Public Finance Authority, Wonderful Foundation Charter School Portfolio Project, Series A-1 (RB)
5.00%, 01/01/31 (c)		1,555			1,095,824
5.00%, 07/01/30 (c)		5,545			3,924,912
Wisconsin Health and Educational Facilities Authority, American Baptist Homes of the Midwest (RB) 5.00%, 08/01/24 (c)		750			699,089

	Par (000’s		)	Value
Wisconsin (continued)
Wisconsin Health and Educational Facilities Authority, Covenant Communities, Inc. Project, Series A-1 (RB) (SAW) 4.00%, 07/01/23 (c)	$	105		$	80,613
Wisconsin Health and Educational Facilities Authority, Covenant Communities, Inc. Project, Series B (RB) 4.38%, 07/01/23 (c)		850			612,528
Wisconsin Health and Educational Facilities Authority, Sauk-Prairie Memorial Hospital, Inc., Series A (RB)
5.25%, 02/01/23 (c)		1,150			1,146,687
5.38%, 02/01/23 (c)		1,200			1,199,952
Wisconsin Health and Educational Facilities Authority, St. Camillus Health System, Inc., Series A (RB)
5.00%, 11/01/26 (c)		500			387,463
5.00%, 11/01/26 (c)		1,950			1,664,229
Wisconsin Health and Educational Facilities Authority, Thedacare, Inc., (RB) 4.00%, 12/15/29 (c)		260			214,576
Wisconsin Health and Educational Facilities Authority, Wheaton Franciscan Healthcare System, Series A (RB) 5.12%, 02/01/23 (c)		3,950			3,930,454
					64,172,515
Total Municipal Bonds: 97.7% (Cost: $3,062,065,530)					2,591,233,561
Other assets less liabilities: 2.3%					61,393,060
NET ASSETS: 100.0%				$	2,652,626,621

The summary of inputs used to value the Fund’s investments as of October 31, 2022 is as follows:

	Par (000’s		)	Value
MUNICIPAL BONDS: 96.8%
Arizona: 1.6%
Arizona Industrial Development Authority, Educational Facility, KIPP NYC Public Charter Schools - Macombs Facility Project, Series A (RB) 4.00%, 07/01/31 (c)	$	400		$	286,251
California: 29.8%
California Health Facilities Financing Authority, Adventist Health System, Series A (RB) 3.00%, 03/01/26 (c)		275			201,835
California Health Facilities Financing Authority, Sutter Health, Series A (RB) 4.00%, 11/15/27 (c)		300			265,543
California Statewide Communities Development Authority, Cottage Health System Obligated Group (RB) 5.00%, 11/01/24 (c)		300			310,036
City of Los Angeles Department of Airports, Series A (RB) 5.00%, 05/15/31		475			459,252
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement, Series A (RB) 5.00%, 06/01/25 (c)		250			260,955
Los Angeles Unified School District, Series A (GO) 5.00%, 07/01/25 (c)		250			260,612
Orange County Local Transportation Authority, Measure M2 Sales Tax (RB) 5.00%, 02/15/23		250			251,366
San Francisco City & County, International Airport, Series E (RB) 5.00%, 05/01/29 (c)		370			374,910
State of California, Various Purpose (GO)
5.00%, 10/01/28 (c)		500			543,827
5.00%, 02/01/25 (c)		410			425,114
5.00%, 04/01/27		250			267,243
5.00%, 08/01/27		300			322,053
State of California, Various Purpose (GO) (SAW) 5.00%, 12/01/30 (c)		250			260,942
University of California, Series BB (RB) 5.00%, 05/15/29 (c)		250			258,619
University of California, Series BH (RB) 4.00%, 05/15/31 (c)		280			257,018

	Par (000’s		)	Value
California (continued)
Val Verde Unified School District, Series A (GO) (BAM) 2.75%, 08/01/28 (c)	$	720		$	452,140
					5,171,465
Connecticut: 2.9%
State of Connecticut, Series A (GO) 4.00%, 04/15/28 (c)		250			237,872
State of Connecticut, Special Tax Obligation, Series B (RB) 5.00%, 10/01/26		250			265,021
					502,893
Hawaii: 3.0%
City and County of Honolulu, Wastewater System, Series A (RB) 4.00%, 07/01/26 (c)		510			513,174
Massachusetts: 8.3%
City of Boston, Series A (GO) 5.00%, 11/01/32 (c)		500			561,160
Commonwealth of Massachusetts Federal Highway Grant Anticipation Notes, Series A (RB) 5.00%, 06/15/24 (c)		250			256,637
Commonwealth of Massachusetts, Series B (GO) 5.00%, 11/01/24		360			372,397
Massachusetts Development Finance Agency, Mass General Brigham Issue, Series A-2 (RB) (SAW) 5.00%, 07/01/23		255			257,509
					1,447,703
Nevada: 1.5%
Truckee Meadows Water Authority (RB) 5.00%, 07/01/23		250			253,052
New York: 32.5%
City of New York, Series B-1 (GO) 5.00%, 10/01/27 (c)		250			257,263
Long Island Power Authority, Electric System, Series B (RB) 5.00%, 09/01/26 (c)		500			507,498
Long Island Power Authority, Electric System, Series C (RB) 5.25%, 09/01/29		255			281,586
Metropolitan Transportation Authority, Series B (RB)
4.25%, 12/01/22 (c)		330			278,509
4.25%, 12/01/22 (c)		350			304,555
Nassau County Interim Finance Authority, Public Benefit Corp., Series A (RB) 5.00%, 11/15/24		250			258,815

	Par (000’s)		Value
New York (continued)
New York City Municipal Water Finance Authority, Water & Sewer System, Series BB (RB) 5.00%, 12/15/22 (c)	$	255	$	255,383
New York City Municipal Water Finance Authority, Water & Sewer System, Series GG (RB) 5.00%, 06/15/25 (c)		400		408,474
New York City Transitional Finance Authority Future Tax, Series B-1 (RB) 5.00%, 08/01/24 (c)		300		306,294
New York City Transitional Finance Authority Future Tax, Series E-1 (RB) 5.00%, 02/01/25 (c)		250		253,318
New York State Dormitory Authority, New School, Series A (RB) 5.00%, 01/01/27 (c)		250		257,638
New York State Dormitory Authority, Personal Income Tax, Series A (RB) 5.00%, 03/15/25 (c)		250		258,260
New York State Dormitory Authority, Series A (RB) 5.00%, 03/15/27 (c)		275		282,480
New York State Thruway Authority, Personal Income Tax, Series A-1 (RB) 4.00%, 03/15/31 (c)		275		238,413
New York State Urban Development Corp., Personal Income Tax, Series A (RB) 5.00%, 09/15/30 (c)		250		257,446
Port Authority of New York & New Jersey (RB) 5.00%, 11/15/27 (c)		500		473,066
Triborough Bridge & Tunnel Authority, MTA Bridges and Tunnel, Series A (RB)
4.00%, 11/15/31 (c)		250		214,667
5.00%, 11/15/28		500		543,678
				5,637,343

	Par (000’s)		Value
North Carolina: 1.6%
University of North Carolina, Hospitals at Chapel Hill (RB) 5.00%, 02/01/45	$	265	$	271,170
Ohio: 3.6%
Franklin County, Ohio Hospital Facilities (RB) 5.00%, 05/15/23 (c)		375		378,612
Ohio Turnpike & Infrastructure Commission, Series A (RB) 5.25%, 02/15/23 (c)		250		251,502
				630,114
Oregon: 1.5%
Oregon State, Department of Administrative Services, State Lottery, Series D (RB) 5.00%, 04/01/25 (c)		250		259,405
Pennsylvania: 3.3%
Commonwealth of Pennsylvania (GO) 5.00%, 03/15/23		250		251,682
Pennsylvania Turnpike Commission, Series B (RB) 5.00%, 06/01/31 (c)		330		317,531
				569,213
Washington: 5.9%
King County, Public Hospital District No 1 (GO) 5.00%, 12/01/26 (c)		250		257,030
King County, Washington Unlimited Tax (GO) 5.00%, 12/01/22		250		250,379
Port of Seattle, Firs Lien 5.00%, 09/01/24		250		256,140
State of Washington, Various Purpose, Series D (GO) 5.00%, 02/01/24 (c)		250		255,410
				1,018,959
Wisconsin: 1.3%
Wisconsin Health & Educational Facilities Authority, Aspipus, Inc. (RB) 4.00%, 08/15/23 (c)		250		227,880
Total Municipal Bonds: 96.8% (Cost: $18,935,132)				16,788,622
Other assets less liabilities: 3.2%				557,941
NET ASSETS: 100.0%			$	17,346,563

The summary of inputs used to value the Fund’s investments as of October 31, 2022 is as follows:

	Par (000’s		)	Value
MUNICIPAL BONDS: 98.5%
Alabama: 1.0%
Alabama Public School and College Authority, Series A (RB)
4.00%, 11/01/30 (c)	$	2,000		$	1,945,652
5.00%, 11/01/30 (c)		525			577,163
5.00%, 11/01/30 (c)		1,500			1,637,495
5.00%, 11/01/30 (c)		1,750			1,895,321
5.00%, 11/01/30 (c)		2,015			2,166,989
Black Belt Energy Gas District, Series A (RB) 4.00%, 12/01/31 (c) (p)		5,000			4,612,722
Board of Trustees of the University of Alabama, Series B (RB) 3.00%, 07/01/27 (c)		860			740,848
County of Jefferson (RB)
5.00%, 03/15/27 (c)		800			848,453
5.00%, 03/15/27 (c)		525			556,103
5.00%, 03/15/27 (c)		100			104,661
UAB Medicine Finance Authority, Series B (RB) 5.00%, 09/01/26 (c)		150			155,282
University of Alabama, Board of Trustee, Series A (RB)
3.00%, 07/01/29 (c)		415			335,383
4.00%, 07/01/29 (c)		820			803,248
					16,379,320
Alaska: 0.2%
Alaska Housing Finance Corp., Series A (RB)
4.00%, 06/01/27 (c)		900			906,576
4.00%, 06/01/27 (c)		125			126,410
5.00%, 06/01/27 (c)		590			620,255
Alaska Housing Finance Corp., Series B (RB) 2.15%, 12/01/30 (c)		1,040			755,506
State of Alaska, International Airports System, Series A (RB) 5.00%, 10/01/25 (c)		305			313,002
State of Alaska, International Airports System, Series B (RB) 5.00%, 10/01/25 (c)		635			644,941
State of Alaska, Series B (GO) 5.00%, 08/01/25 (c)		250			260,537
					3,627,227
Arizona: 1.0%
Arizona Transportation Board, Highway (RB)
5.00%, 07/01/26 (c)		835			880,500
5.00%, 07/01/26 (c)		1,050			1,104,256
City of Phoenix Civic Improvement Corp., Junior Lien Wastewater System (RB)
5.00%, 07/01/26 (c)		620			654,222
5.00%, 07/01/26 (c)		860			905,043
5.00%, 07/01/26 (c)		120			125,864
5.00%, 07/01/26 (c)		150			156,595

	Par (000’s		)	Value
Arizona (continued)
City of Phoenix Civic Improvement Corp., Junior Lien Wastewater System, Series A (RB) 5.00%, 07/01/31 (c)	$	800		$	866,706
City of Phoenix Civic Improvement Corp., Junior Lien Water System, Series A (RB) 5.00%, 07/01/31 (c)		1,000			1,066,595
City of Phoenix Civic Improvement Corp., Rental Car Facility Charge, Series A (RB)
5.00%, 07/01/29 (c)		1,000			1,052,051
5.00%, 07/01/29 (c)		1,275			1,329,323
City of Phoenix Civic Improvement Corp., Senior Lien Airport Revenue, Series B (RB)
5.00%, 07/01/27 (c)		100			104,651
5.00%, 07/01/27 (c)		250			259,687
5.00%, 07/01/27 (c)		250			263,089
City of Phoenix Civic Improvement Corp., Senior Lien Airport Revenue, Series D (RB)
5.00%, 07/01/27 (c)		550			566,469
5.00%, 07/01/27 (c)		120			125,946
Maricopa County Industrial Development Authority, Banner Health, Series A (RB)
3.12%, 01/01/27 (c)		20			17,718
5.00%, 01/01/27 (c)		605			611,775
5.00%, 01/01/29		710			762,867
Maricopa County Special Health Care District, Series C (GO) 5.00%, 07/01/27		295			314,776
Maricopa County, Arizona Pollution Control, Southern California Edison Company, Series A (RB) 2.40%, 12/01/31 (c)		1,150			842,198
Maricopa County, Arizona Pollution Control, Southern California Edison Company, Series B (RB) 2.40%, 12/01/31 (c)		1,500			1,098,519
Salt River Project Agricultural Improvement and Power District, Series A (RB)
5.00%, 01/01/28 (c)		250			265,083
5.00%, 01/01/28 (c)		2,380			2,544,815
Salt Verde Financial Corp. (RB) 5.00%, 12/01/37		1,000			986,802
					16,905,550

	Par (000’s		)	Value
Arkansas: 0.1%
City of Fayetteville, Sales and Use Tax Capital Improvements, Series A (RB) 2.00%, 11/01/26 (c)	$	305		$	296,039
City of Fort Worth, Water and Sewer Construction (RB) 5.00%, 10/01/28 (c)		280			291,544
City of Rogers, Sales and Use Tax, Series B (RB) 5.00%, 11/01/26 (c)		1,000			1,044,117
Little Rock School District of Pulaski County, Series A (GO) (AGM) 2.00%, 02/01/27 (c)		1,000			677,968
					2,309,668
California: 16.0%
Anaheim Housing and Public Improvements, Electric Utility Distribution System Improvements, Series A (RB) 5.00%, 10/01/27 (c)		1,000			1,056,046
Bay Area Toll Authority, Series S-7 (RB)
3.25%, 04/01/27 (c)		1,270			1,076,140
4.00%, 04/01/27 (c)		1,735			1,741,600
California Community Choice, Financing Authority Clean Energy Project, Series B-1 (RB) 4.00%, 08/01/31 (c) (p)		3,500			3,267,422
California Health Facilities Financial Authority, Series A (RB) 3.75%, 12/01/22 (c)		1,100			1,025,550
California Health Facilities Financial Authority, Series C (RB) 5.00%, 11/01/29 (p)		2,000			2,186,751
California Health Facilities Financing Authority, Cedars- Sinai Medical Center, Series A (RB) 5.00%, 08/15/26 (c)		310			325,035
California Health Facilities Financing Authority, Cedars- Sinai Medical Center, Series B (RB) 3.00%, 08/15/26 (c)		400			334,535
California Health Facilities Financing Authority, CommonSpirit Health, Series A (RB)
4.00%, 04/01/30 (c)		450			396,550
4.00%, 04/01/30 (c)		1,060			929,478
4.00%, 04/01/30 (c)		500			431,194
California Health Facilities Financing Authority, Stanford Health Care, Series A (RB) 5.00%, 11/15/27 (c)		750			794,640

	Par (000’s		)	Value
California (continued)
California Health Facilities Financing Authority, Sutter Health, Series A (RB)
5.00%, 11/15/27 (c)	$	1,575		$	1,619,133
5.00%, 11/15/27 (c)		150			154,402
5.00%, 11/15/27 (c)		450			466,801
California Housing Finance Agency, Series A (RB) 3.50%, 11/20/35		1,223			1,046,114
California Housing Finance Agency, Series A (RB) (FHLMC COLL) 3.75%, 03/25/35		1,976			1,832,913
California Infrastructure and Economic Development Bank, Clean Water State (RB)
5.00%, 04/01/26 (c)		55			58,207
5.00%, 04/01/27 (c)		170			180,907
California Municipal Finance Authority, Community Medical Centers, Series A (RB) 5.00%, 02/01/27 (c)		840			864,002
California Municipal Finance Authority, Northbay Healthcare Group, Series A (RB) 5.25%, 11/01/26 (c)		2,000			1,986,354
California Palomar Health, Series B (GO) 4.00%, 08/01/26 (c)		1,000			933,494
California State Public Works Board, Department of Corrections and Rehabilitation, Series D (RB)
3.00%, 09/01/27 (c)		360			315,687
3.00%, 09/01/27 (c)		500			449,201
California State Public Works Board, Various Capital Projects, Series B (RB)
5.00%, 10/01/27 (c)		340			365,323
5.00%, 10/01/27 (c)		1,835			1,973,236
California State Public Works Board, Various Capital Projects, Series C (RB)
4.00%, 11/01/26 (c)		425			426,031
5.00%, 11/01/26 (c)		30			31,864
5.00%, 11/01/26 (c)		45			47,765
5.00%, 11/01/26 (c)		30			31,804
California State Public Works Board, Various Capital Projects, Series D (RB) 5.00%, 10/01/26 (c)		400			424,250
California State Public Works Board, Various Correctional Facilities, Series C (RB) 5.00%, 11/01/28 (c)		950			1,032,960

	Par (000’s		)	Value
California (continued)
California State Public Works Board, Various Judicial Council Project, Series A (RB)
5.00%, 03/01/23 (c)	$	1,000		$	1,004,592
5.00%, 03/01/23 (c)		1,000			1,005,255
California State University, Series A (RB)
5.00%, 11/01/25 (c)		35			36,714
5.00%, 05/01/26 (c)		1,510			1,595,600
5.00%, 05/01/26 (c)		160			169,295
5.00%, 05/01/27 (c)		225			237,844
5.00%, 05/01/27 (c)		510			542,733
California Statewide Communities Development Authority, Front Porch Communities and Services, Series A (RB)
3.00%, 04/01/31 (c)		1,000			778,218
4.00%, 04/01/31 (c)		1,400			1,257,848
California Statewide Communities Development Authority, Kaiser Permanente, Series C (RB) 5.00%, 11/01/29 (p)		1,675			1,830,317
California Statewide Communities Development Authority, Kaiser Permanente, Series D (RB) 5.00%, 11/01/29 (p)		2,000			2,185,453
California Statewide Communities Development Authority, Kaiser Permanente, Series L (RB) 5.00%, 11/01/29 (p)		1,500			1,639,090
California Statewide Communities Development Authority, Methodist Hospital of Southern California (RB)
5.00%, 01/01/28 (c)		760			770,343
5.00%, 01/01/28 (c)		315			320,415
California Statewide Communities Development Authority, Pollution Control, Southern California Edison Company, Series A (RB) 1.75%, 11/19/26 (c)		3,000			2,453,611
Chabot-Las Positas Community College District (GO) 4.00%, 08/01/26 (c)		140			136,696
City and County of San Francisco, 49 South Van Ness Project (CP) (AGM) 4.00%, 04/01/27 (c)		1,000			980,258
City and County of San Francisco, Series B (CP) 3.00%, 10/01/25 (c)		255			235,504
City of Bakersfield, Wastewater, Series A (RB) 5.00%, 09/15/25 (c)		15			15,733

	Par (000’s		)	Value
California (continued)
City of Concord, Capital Improvement Project (CP) 2.00%, 04/01/31 (c)	$	1,400		$	925,459
City of Los Angeles, Department of Airports, Los Angeles International Airport, Series B (RB)
4.00%, 05/15/30 (c)		1,000			950,957
5.00%, 05/15/31 (c)		500			536,257
5.00%, 05/15/31 (c)		1,400			1,486,197
City of Los Angeles, Wastewater System, Series A (RB) 5.00%, 06/01/27 (c)		565			604,485
City of San Antonio, California Airport, Series B (RB) (BAM) 4.00%, 03/01/31 (c)		325			305,379
City of San Jose, Refunding, Libraries, Parks and Public Safety Projects, Series C (GO) (AGM) 5.00%, 03/01/29 (c)		200			218,701
County of Sacramento, Airport System, Series E (RB)
5.00%, 07/01/27		275			291,003
5.00%, 07/01/28 (c)		150			154,737
County of Sacramento, Regional County Sanitation District, Series A (RB) 5.00%, 06/01/24 (c)		1,000			1,023,812
County of Santa Clara, Series C (GO)
3.00%, 08/01/27 (c)		245			208,525
5.00%, 08/01/27 (c)		125			134,830
5.00%, 08/01/27 (c)		525			559,869
Desert Community College District (GO) 5.00%, 08/01/27 (c)		145			154,565
East Bay Municipal Utility District, Water System, Series B (RB) 5.00%, 06/01/27 (c)		220			235,858
East Side Union High School District, Series B (GO) (AGM) 3.00%, 08/01/27 (c)		2,590			2,153,926
Eastern Municipal Water District, Financing Authority, Water and Wastewater, Series A (RB) 5.00%, 07/01/30 (c)		1,070			1,144,613
Eastern Municipal Water District, Financing Authority, Water and Wastewater, Series B (RB) (SAW) 5.00%, 07/01/26 (c)		140			147,761
El Dorado Irrigation District, Series C (RB) 5.00%, 03/01/26 (c)		250			264,112

	Par (000’s		)	Value
California (continued)
Fontana Redevelopment Agency Successor Agency (TA) 5.00%, 10/01/27 (c)	$	760		$	804,962
Foothill-De Anza Community College District (GO) 3.00%, 08/01/31 (c)		1,500			1,198,688
Kern High School District, Series A (GO) (AGM) 2.00%, 08/01/30 (c)		3,000			2,368,812
Kern High School District, Series C (GO) (AGM) 2.00%, 08/01/30 (c)		1,600			1,309,896
Los Angeles Community College District, Series I (GO)
4.00%, 08/01/26 (c)		170			171,188
4.00%, 08/01/26 (c)		135			138,767
4.00%, 08/01/26		25			25,749
Los Angeles Community College District, Series J (GO)
4.00%, 08/01/27 (c)		750			758,074
4.00%, 08/01/27 (c)		400			405,979
Los Angeles Community College District, Series L (GO) 5.00%, 08/01/32 (c)		1,000			1,104,403
Los Angeles County Metropolitan Transportation Authority (RB)
4.00%, 06/01/30 (c)		1,000			971,782
5.00%, 06/01/30 (c)		1,000			1,084,511
5.00%, 07/01/31 (c)		2,000			2,143,750
Los Angeles County Metropolitan Transportation Authority, Series A (RB)
4.00%, 06/01/30 (c)		1,045			1,026,737
4.00%, 06/01/30 (c)		1,000			996,466
4.00%, 07/01/26 (c)		50			51,033
5.00%, 06/01/26 (c)		375			397,126
5.00%, 06/01/26 (c)		165			174,445
5.00%, 07/01/27 (c)		795			852,330
5.00%, 07/01/27 (c)		285			306,283
5.00%, 07/01/31 (c)		900			982,476
5.00%, 07/01/31 (c)		1,060			1,146,082
Los Angeles County Metropolitan Transportation Authority, Series B (RB) 5.00%, 07/01/23 (c)		2,000			2,020,200
Los Angeles County Public Works Financing Authority, Series E-1 (RB) 5.00%, 12/01/29 (c)		450			484,022
Los Angeles Department of Water and Power, Series A (RB)
5.00%, 01/01/26 (c)		155			163,277
5.00%, 01/01/27 (c)		1,010			1,074,284
5.00%, 01/01/28 (c)		500			538,224
5.00%, 01/01/28 (c)		115			124,719
5.00%, 07/01/29		1,000			1,102,882

	Par (000’s		)	Value
California (continued)
Los Angeles Department of Water and Power, Series B (RB)
5.00%, 01/01/26 (c)	$	35		$	36,846
5.00%, 01/01/27 (c)		1,000			1,062,048
5.00%, 01/01/27 (c)		275			291,789
5.00%, 07/01/23 (c)		1,000			1,011,352
5.00%, 07/01/23 (c)		1,500			1,516,632
5.00%, 07/01/28 (c)		110			119,061
Los Angeles Department of Water and Power, Series C (RB)
5.00%, 07/01/29 (c)		1,680			1,801,423
5.00%, 07/01/30 (c)		1,125			1,232,147
5.00%, 07/01/30 (c)		1,500			1,608,257
Los Angeles Department of Water and Power, Series D (RB)
5.00%, 07/01/24 (c)		2,000			2,055,793
5.00%, 07/01/28 (c)		125			133,836
5.00%, 07/01/28 (c)		2,000			2,093,234
Los Angeles Unified School District, AD Valorem Property Tax, Series RYRR (GO)
4.00%, 01/01/32 (c)		1,500			1,431,004
5.00%, 01/01/32 (c)		1,300			1,419,413
Los Angeles Unified School District, Series A (GO)
4.00%, 07/01/29 (c)		1,580			1,569,742
5.00%, 07/01/25 (c)		695			724,167
5.00%, 07/01/25 (c)		25			26,061
5.00%, 07/01/25 (c)		135			140,856
5.00%, 07/01/26		120			127,432
5.00%, 07/01/29 (c)		1,720			1,876,975
5.00%, 07/01/30		500			551,628
Los Angeles Unified School District, Series B (GO)
2.00%, 07/01/26 (c)		270			232,553
5.00%, 07/01/26 (c)		915			965,178
Los Angeles Unified School District, Series B-1 (GO)
5.00%, 01/01/28 (c)		585			623,864
5.00%, 01/01/28 (c)		645			691,755
5.00%, 01/01/28 (c)		295			310,978
Los Angeles Unified School District, Series C (GO)
3.00%, 07/01/30 (c)		1,880			1,565,917
4.00%, 07/01/30 (c)		360			353,457
4.00%, 07/01/30 (c)		2,000			1,949,338
Los Angeles Unified School District, Series RYQ (GO) 4.00%, 07/01/30 (c)		1,000			956,562
Los Angeles Unified School District, Series RYQ (GO) (BAM) 5.00%, 07/01/29		3,675			4,039,235
Los Angeles Wastewater System, Series A (RB) 5.00%, 06/01/23 (c)		2,000			2,018,651

	Par (000’s		)	Value
California (continued)
Metropolitan Water District of Southern California, Series B (RB) 5.00%, 07/01/28 (c)	$	100		$	108,602
Mount Diablo Unified School District, Series B (GO) 4.00%, 08/01/31 (c)		1,000			976,888
Municipal Improvement Corp. of Los Angeles, Series B (RB)
5.00%, 11/01/26 (c)		615			651,613
5.00%, 11/01/26 (c)		985			1,045,460
Northern California Transmission Agency Project, Series A (RB)
5.00%, 05/01/26 (c)		45			47,449
5.00%, 05/01/26 (c)		40			42,152
Oakland Unified School District (GO)
5.00%, 08/01/26 (c)		625			654,416
5.00%, 08/01/26 (c)		385			406,875
5.00%, 08/01/26 (c)		175			184,701
Palm Springs Unified School District, Series A (GO) (AGM)
1.25%, 08/01/29 (c)		4,000			3,099,465
1.50%, 08/01/29 (c)		3,000			2,146,017
1.75%, 08/01/29 (c)		3,000			2,131,616
Palm Springs Unified School District, Series D (GO) 3.00%, 08/01/26 (c)		160			149,404
Placentia-Yorba Linda Unified School District, Series A (CP) (AGM) 4.00%, 10/01/25 (c)		260			262,009
Public Utilities Commission of the City and County of San Francisco Water, Series A (RB)
4.00%, 11/01/26 (c)		100			101,954
5.00%, 11/01/26 (c)		25			26,477
Public Utilities Commission of the City and County of San Francisco Water, Series D (RB)
5.00%, 11/01/27 (c)		785			835,471
5.00%, 11/01/27 (c)		255			275,350
Regents of the University of California, Medical Center, Series L (RB) 5.00%, 05/15/26 (c)		650			673,728
Riverside County Transportation Commission, Series B (RB) 5.00%, 12/01/27 (c)		560			591,393
Sacramento City Financing Authority, Master Lease Program Facilities (RB) (BAM)
5.00%, 12/01/25 (c)		210			220,551
5.00%, 12/01/25 (c)		110			115,405
San Diego Community College District (GO) 5.00%, 08/01/26 (c)		65			69,226

	Par (000’s		)	Value
California (continued)
San Diego County Regional Airport Authority, Series A (RB) 5.00%, 07/01/29 (c)	$	535		$	549,977
San Diego County Regional Airport Authority, Series B (RB)
5.00%, 07/01/30 (c)		2,075			2,140,425
5.00%, 07/01/30 (c)		1,630			1,714,768
San Diego County Water Authority, Series B (RB) 4.00%, 05/01/31 (c)		2,000			2,026,216
San Diego Unified School District, Series I (GO) 5.00%, 07/01/27 (c)		650			696,548
San Diego Unified School District, Series R-5 (GO) 4.00%, 07/01/26 (c)		20			20,394
San Francisco Bay Area Rapid Transit District, Series F-1 (GO)
5.00%, 08/01/29 (c)		140			151,073
5.00%, 08/01/29 (c)		110			120,574
San Francisco Community College District (GO) 5.00%, 06/15/25		140			146,005
San Francisco County Transportation Authority (RB)
3.00%, 02/01/27 (c)		500			437,678
3.00%, 02/01/27 (c)		135			126,408
4.00%, 02/01/27 (c)		325			334,050
4.00%, 02/01/27		105			108,332
San Francisco Unified School District, Series B (GO) 4.00%, 06/15/28 (c)		2,000			2,004,968
San Joaquin County Transportation Authority (RB) 5.00%, 03/01/27 (c)		165			175,541
San Joaquin Delta Community College District, Series A (GO) 5.00%, 08/01/25 (c)		25			26,194
San Jose Redevelopment Agency, Series A (TA) 5.00%, 08/01/27 (c)		230			241,905
San Marcos Unified School District (GO)
4.00%, 08/01/27 (c)		400			402,988
5.00%, 08/01/27 (c)		515			551,331
5.00%, 08/01/27 (c)		360			382,548
5.00%, 08/01/27 (c)		350			368,582
San Mateo Union High School District, Series C (GO) 4.00%, 09/01/26 (c)		770			774,725
Santa Clara County Financing Authority, Capital Facilities, Series A (RB)
4.00%, 05/01/31 (c)		840			819,770
5.00%, 05/01/31 (c)		3,855			4,235,201

	Par (000’s		)	Value
California (continued)
Santa Clara County Financing Authority, Multiple Facilities Projects, Series Q (RB)
3.00%, 05/15/25 (c)	$	1,000		$	853,484
4.00%, 05/15/25 (c)		1,510			1,539,133
4.00%, 05/15/25 (c)		400			401,290
Santa Clara Unified School District (GO)
3.00%, 07/01/26 (c)		1,535			1,323,442
3.00%, 07/01/26 (c)		100			87,944
Santa Clara Valley Water District, Series A (RB) 5.00%, 12/01/25 (c)		25			26,249
Southern California Public Power Authority, Milford Wind Corridor Phase I Project (RB) 5.00%, 07/01/29		100			110,162
State of California (GO)
3.00%, 10/01/29 (c)		2,000			1,767,426
4.00%, 04/01/31 (c)		2,000			1,973,422
5.00%, 10/01/30		2,000			2,218,100
5.00%, 11/01/28 (c)		2,585			2,743,372
5.00%, 09/01/29		1,000			1,099,846
State of California, Department of Water Resources, Central Valley Project, Series AW (RB) 5.00%, 12/01/26 (c)		50			53,286
State of California, Department of Water Resources, Central Valley Project, Series AX (RB)
5.00%, 12/01/27 (c)		915			988,701
5.00%, 12/01/27 (c)		100			107,778
State of California, Department of Water Resources, Central Valley Project, Series BA (RB) (AGM) 5.00%, 06/01/29 (c)		365			396,348
State of California, Series CL (GO) 3.75%, 12/01/24 (c)		10			9,690
State of California, Various Purpose (GO)
3.00%, 10/01/29 (c)		350			291,651
3.12%, 04/01/29 (c)		1,575			1,380,136
4.00%, 11/01/27 (c)		100			101,259
4.00%, 11/01/30 (c)		3,445			3,398,048
4.00%, 03/01/29		2,000			2,070,209
4.00%, 03/01/30 (c)		2,000			1,945,810
4.00%, 03/01/30 (c)		9,500			9,306,234
4.00%, 08/01/26 (c)		700			702,741
4.00%, 08/01/26 (c)		130			129,412
4.00%, 09/01/26 (c)		2,815			2,839,941
4.00%, 09/01/26 (c)		1,500			1,491,910
5.00%, 10/01/28 (c)		300			326,296
5.00%, 10/01/29		4,500			4,953,827
5.00%, 10/01/29		1,000			1,100,850
5.00%, 10/01/29 (c)		3,425			3,741,196
5.00%, 10/01/29 (c)		2,340			2,568,082

	Par (000’s		)	Value
California (continued)
5.00%, 10/01/31	$	4,000		$	4,460,687
5.00%, 11/01/27 (c)		3,375			3,628,529
5.00%, 11/01/27 (c)		1,020			1,093,981
5.00%, 11/01/27 (c)		2,645			2,830,294
5.00%, 11/01/27 (c)		2,480			2,668,435
5.00%, 11/01/28		400			435,894
5.00%, 11/01/30 (c)		1,610			1,741,786
5.00%, 11/01/30		1,000			1,109,800
5.00%, 12/01/28		1,000			1,089,599
5.00%, 12/01/30 (c)		2,000			2,156,520
5.00%, 03/01/30 (c)		1,250			1,350,745
5.00%, 03/01/30 (c)		1,810			1,946,178
5.00%, 04/01/24 (c)		500			509,552
5.00%, 04/01/26 (c)		1,075			1,131,630
5.00%, 04/01/29 (c)		3,500			3,744,069
5.00%, 04/01/29		1,735			1,899,567
5.00%, 04/01/29 (c)		150			162,961
5.00%, 04/01/30		2,910			3,212,141
5.00%, 04/01/31		380			422,708
5.00%, 04/01/32		4,270			4,785,428
5.00%, 08/01/24 (c)		1,000			1,023,705
5.00%, 08/01/26 (c)		490			511,457
5.00%, 08/01/26 (c)		115			119,882
5.00%, 08/01/26 (c)		2,380			2,512,972
5.00%, 08/01/26 (c)		905			952,462
5.00%, 08/01/26 (c)		150			158,740
5.00%, 08/01/26 (c)		1,165			1,232,102
5.00%, 08/01/27 (c)		950			1,016,157
5.00%, 08/01/27 (c)		2,445			2,620,570
5.00%, 08/01/28 (c)		3,245			3,443,666
5.00%, 08/01/28 (c)		275			297,812
5.00%, 09/01/23 (c)		345			350,255
5.00%, 09/01/25 (c)		30			31,379
5.00%, 09/01/26 (c)		125			132,113
State Public Works Board, Various Capital Projects, Series B (RB)
4.00%, 05/01/31 (c)		1,500			1,417,002
4.00%, 05/01/31 (c)		2,000			1,899,037
Stockton Unified School District (GO) 5.00%, 02/01/26 (c)		100			104,645
Trustees of the California State University, Series A (RB) 5.00%, 05/01/26 (c)		410			433,308
Tuolumne Wind Project Authority, Series A (RB) 5.00%, 01/01/27		125			133,386
Turlock Irrigation District (RB) 5.00%, 01/01/30 (c)		500			523,897
University of California, Series AR (RB) 5.00%, 05/15/26 (c)		10			10,564
University of California, Series AY (RB) 5.00%, 05/15/27 (c)		625			669,996

	Par (000’s		)	Value
California (continued)
University of California, Series AZ (RB)
5.00%, 05/15/28 (c)	$	275		$	299,254
5.00%, 05/15/28 (c)		310			333,947
University of California, Series BE (RB) 5.00%, 05/15/30 (c)		1,500			1,627,492
University of California, Series O (RB) 5.00%, 05/15/28 (c)		1,170			1,243,255
					263,865,542
Colorado: 1.9%
Adams and Arapahoe Joint School District No. 28J, Series A (GO) (SAW) 5.00%, 12/01/26 (c)		540			571,774
Adams County, 12 Star Schools, Series B (GO) 5.00%, 12/15/26 (c)		2,000			2,118,652
Board of Governors of Colorado State University System, Series C (RB)
5.00%, 03/01/28 (c)		935			994,670
5.00%, 03/01/28 (c)		510			546,304
Cherry Creek School District No. 5 (GO) (SAW) 5.00%, 12/15/25 (c)		1,000			1,045,590
City and County of Denver, Acting By and Through its Board of Water Commissioners, Series A (RB) 5.00%, 12/15/29		1,700			1,881,958
City and County of Denver, Series A-2 (RB) 0.00%, 08/01/26 (c) ^		200			115,285
City of Colorado Springs, Utilities System, Series A (RB) 5.00%, 11/15/30		1,000			1,107,066
City of Colorado Springs, Utilities System, Series A-1 (RB)
5.00%, 11/15/27 (c)		100			106,548
5.00%, 11/15/27 (c)		120			128,543
5.00%, 11/15/27 (c)		110			118,199
Colorado Health Facilities Authority, CommonSpirit Health, Series A-1 (RB) 5.00%, 08/01/29 (c)		155			155,932
Denver City and County School District No. 1 (GO) (SAW)
4.00%, 12/01/30 (c)		3,000			2,889,078
5.00%, 12/01/30 (c)		1,000			1,083,101
Denver Convention Center Hotel Authority (RB) 5.00%, 12/01/26 (c)		570			582,454
El Paso County School District No. 20 (GO) (SAW) 5.00%, 12/15/26 (c)		295			311,572

	Par (000’s		)	Value
Colorado (continued)
Jefferson County School District R-1 (GO) 5.00%, 12/15/28 (c)	$	1,110		$	1,204,267
Mesa County Valley School District No. 51 (GO) (SAW)
5.00%, 12/01/27 (c)		500			535,133
5.00%, 12/01/27 (c)		500			534,893
5.25%, 12/01/27 (c)		200			213,292
Pueblo City Schools No. 60 (GO) (SAW)
3.00%, 12/15/29 (c)		500			398,154
5.00%, 12/15/29 (c)		1,625			1,706,346
5.00%, 12/15/29 (c)		1,010			1,078,645
Regional Transportation District, Fastracks Project, Series B (RB)
5.00%, 11/01/27 (c)		530			558,283
5.00%, 11/01/27 (c)		1,995			2,101,460
5.00%, 11/01/28		1,000			1,081,827
State of Colorado, Series A (CP)
4.00%, 12/15/31 (c)		1,750			1,649,186
5.00%, 12/15/31 (c)		2,000			2,159,911
State of Colorado, Series K (CP) 5.00%, 03/15/27 (c)		410			430,693
State of Colorado, Series M (CP) 5.00%, 03/15/28 (c)		190			203,245
University of Colorado, Series A-2 (RB) 3.00%, 06/01/24 (c)		800			699,145
Weld County School District No. 6 (GO) (SAW) 5.00%, 12/01/29 (c)		2,165			2,310,656
					30,621,862
Connecticut: 2.5%
Connecticut Housing Finance Authority Housing Mortgage Finance Program, Series A-1 (RB) (SAW) 1.70%, 05/15/30 (c)		1,290			939,416
Connecticut Housing Finance Authority, Series A-1 (RB) 3.65%, 11/15/26 (c)		95			92,534
Connecticut Housing Finance Authority, Series D-1 (RB) 3.20%, 11/15/26 (c)		260			234,508
Connecticut Housing Finance Authority, Series F-1 (RB) 3.05%, 05/15/26 (c)		140			131,765
Connecticut State Health and Educational Facilities Authority, Hardford Health Issue, Series A (RB) (SD CRED PROG) 5.00%, 01/01/30 (c)		335			343,327
Connecticut State Health and Educational Facilities Authority, Nuvance Health Issue, Series A (RB) 4.00%, 07/01/29 (c)		625			548,289

	Par (000’s		)	Value
Connecticut (continued)
4.00%, 07/01/29 (c)	$	525		$	454,491
5.00%, 07/01/29 (c)		2,200			2,245,007
Connecticut State Health and Educational Facilities Authority, Yale University Issue, Series B-1 (RB) (AGM) 5.00%, 07/01/29		1,000			1,102,882
Connecticut State, Series A (GO) (SBG) 4.00%, 04/15/29 (c)		1,000			941,402
Connecticut State, Series B (GO) 4.00%, 03/01/23 (c)		2,000			2,000,270
Connecticut State, Series E (GO) 5.00%, 08/15/23 (c)		2,000			2,021,009
Connecticut State, Series F (GO) 5.00%, 11/15/25 (c)		1,550			1,611,245
Connecticut State, Transportation Infrastructure Purposes, Series A (RB) 5.00%, 09/01/24 (c)		1,000			1,020,885
South Central Connecticut Regional Water Authority, Series B (RB) 5.00%, 08/01/26 (c)		25			26,269
State of Connecticut, Series A (GO)
3.00%, 01/15/31 (c)		2,200			1,960,247
3.00%, 01/15/31 (c)		1,000			827,227
3.00%, 01/15/31 (c)		1,000			858,889
4.00%, 01/15/31		1,780			1,789,682
5.00%, 04/15/27 (c)		680			721,855
5.00%, 04/15/28 (c)		1,000			1,038,294
State of Connecticut, Series A (GO) (SBG) 5.00%, 04/15/29		1,000			1,086,263
State of Connecticut, Series A (RB) 5.00%, 05/01/27 (c)		350			369,432
State of Connecticut, Series B (GO) 5.00%, 06/15/25 (c)		1,135			1,175,365
State of Connecticut, Series B (GO) (BAM) 3.00%, 06/01/29		1,000			944,119
State of Connecticut, Series C (GO) 4.00%, 06/01/30 (c)		850			808,269
State of Connecticut, Series E (GO)
3.00%, 10/15/26 (c)		395			350,023
5.00%, 09/15/28 (c)		1,665			1,788,775
State of Connecticut, Special Tax, Series A (RB)
4.00%, 05/01/31 (c)		1,500			1,407,305
4.00%, 09/01/26 (c)		785			751,135
5.00%, 01/01/28 (c)		190			200,328
5.00%, 05/01/31		1,650			1,800,746
5.00%, 05/01/31 (c)		1,500			1,604,047
5.00%, 09/01/26 (c)		475			495,327

	Par (000’s		)	Value
Connecticut (continued)
5.00%, 09/01/26 (c)	$	200		$	207,346
State of Connecticut, Special Tax, Series A (ST) 5.00%, 05/01/30 (c)		2,500			2,644,576
State of Connecticut, State Revolving Fund, Series A (RB)
5.00%, 02/01/29 (c)		275			293,962
5.00%, 05/01/27 (c)		1,000			1,058,849
University of Connecticut, Series A (RB)
5.00%, 01/15/27 (c)		745			785,487
5.00%, 11/01/28 (c)		730			767,918
5.00%, 11/01/28 (c)		500			520,675
5.00%, 04/15/28 (c)		1,000			1,067,978
					41,037,418
Delaware: 0.4%
State of Delaware (GO)
2.00%, 02/01/31 (c)		1,000			709,338
2.00%, 02/01/31 (c)		1,000			735,293
3.00%, 02/01/31 (c)		1,000			931,413
3.12%, 03/01/27 (c)		505			475,244
4.00%, 03/01/27 (c)		500			511,168
State of Delaware, Health Facilities Authority, Bayhealth Medical Center Project, Series A (RB) 3.00%, 07/01/27 (c)		180			161,011
State of Delaware, Series A (GO)
2.00%, 01/01/30 (c)		650			465,564
5.00%, 01/01/30 (c)		1,000			1,104,196
5.00%, 10/01/28		810			884,549
5.00%, 02/01/28 (c)		500			540,477
					6,518,253
District of Columbia: 1.8%
District of Columbia, Federal Highway Grant Anticipation (RB) (SAW) 5.00%, 12/01/29 (c)		2,250			2,403,825
District of Columbia, Georgetown University Issue (RB) 5.00%, 04/01/27 (c)		645			666,274
District of Columbia, Series A (GO)
5.00%, 06/01/26 (c)		210			221,140
5.00%, 06/01/26 (c)		290			303,093
5.00%, 06/01/26 (c)		250			261,886
5.00%, 06/01/26 (c)		30			31,560
5.00%, 06/01/27 (c)		2,500			2,628,284
5.00%, 06/01/27 (c)		580			612,795
5.00%, 06/01/27 (c)		170			180,451
5.00%, 06/01/28 (c)		750			792,907
District of Columbia, Series A (RB) 5.00%, 09/01/29 (c)		1,000			1,068,966
District of Columbia, Series C (RB) 5.00%, 05/01/30 (c)		1,000			1,074,537

	Par (000’s		)	Value
District of Columbia (continued)
5.00%, 05/01/30	$	250		$	275,983
District of Columbia, Series D (GO)
4.00%, 06/01/27 (c)		500			501,698
5.00%, 12/01/26 (c)		20			21,122
5.00%, 12/01/26 (c)		160			169,602
5.00%, 06/01/27 (c)		500			530,738
District of Columbia, Series E (GO) 5.00%, 12/01/26 (c)		25			26,403
Metropolitan Washington Airports Authority, Dulles Toll Road, Series B (RB) 4.00%, 10/01/29 (c)		250			225,668
Metropolitan Washington Airports Authority, Dulles Toll Road, Series B (RB) (AGM) 4.00%, 10/01/29 (c)		250			227,526
Washington Convention & Sports Authority (RB) 5.00%, 10/01/27 (c)		2,545			2,695,223
Washington Metropolitain Area Transit Authority, Series A (RB)
5.00%, 07/15/30 (c)		1,400			1,482,771
5.00%, 07/15/31 (c)		2,000			2,131,073
Washington Metropolitan Area Transit Authority (RB)
4.00%, 07/15/31 (c)		4,000			3,926,906
5.00%, 07/01/27 (c)		1,000			1,031,345
5.00%, 07/01/27		275			294,537
Washington Metropolitan Area Transit Authority, Series A-1 (RB) 5.00%, 07/01/27 (c)		140			148,294
Washington Metropolitan Area Transit Authority, Series A-2 (RB)
5.00%, 07/01/27 (c)		550			577,375
5.00%, 07/01/27 (c)		810			846,286
5.00%, 07/01/27 (c)		300			316,045
Washington Metropolitan Area Transit Authority, Series B (RB)
5.00%, 07/01/27 (c)		555			590,161
5.00%, 07/01/27		240			257,051
5.00%, 07/01/27 (c)		1,205			1,265,501
5.00%, 07/01/27 (c)		880			919,422
5.00%, 07/01/27 (c)		650			688,510
					29,394,958
Florida: 3.4%
Alachua County, Health Facilities Authority, Shands Teaching Hospital and Clinics, Inc., Series B-1 (RB) 5.00%, 12/01/29 (c)		490			495,344

	Par (000’s		)	Value
Florida (continued)
Brevard County, Health Facilities Authority, Health First, Inc. Project (RB)
5.00%, 04/01/24 (c)	$	2,510		$	2,564,569
5.00%, 04/01/24 (c)		1,000			1,021,741
Broward County, Florida Tourist Development, Convention Center Expansion Project (RB) 4.00%, 09/01/31 (c)		1,000			931,189
Broward County. Florida School Board, Series B (CP) 5.00%, 07/01/25 (c)		1,005			1,038,653
Central Florida Expressway Authority (RB) (BAM) 3.00%, 07/01/27 (c)		520			445,739
City of Cape Coral, Water and Sewer (RB) 5.00%, 10/01/27 (c)		175			185,168
City of Gainesville, Utilities System, Series A (RB)
5.00%, 10/01/27 (c)		195			204,213
5.00%, 10/01/27 (c)		1,045			1,088,581
City of Jacksonville, Florida Transportation (RB) 5.00%, 10/01/25 (c)		210			218,050
City of Jacksonville, Series A (RB) 5.00%, 10/01/29 (c)		1,095			1,173,346
City of Jacksonville, Series B (RB) 5.00%, 10/01/26 (c)		250			262,398
City of Orlando, Senior Tourist Development Tax, 6th Cent Contract Payments, Series A (RB) (AGM) 5.00%, 11/01/27 (c)		560			582,147
County of Miami-Dade (RB)
0.00%, 10/01/26 (c) ^		565			375,209
0.00%, 10/01/26 (c) ^		400			251,093
5.00%, 10/01/26 (c)		2,005			2,056,555
5.00%, 10/01/26 (c)		510			530,757
County of Miami-Dade, Aviation Revenue, Series A (RB) 5.00%, 10/01/26 (c)		460			476,076
County of Miami-Dade, Building Better Communities Program, Series A (GO)
5.00%, 07/01/25 (c)		100			103,632
5.00%, 07/01/26 (c)		555			576,316
5.00%, 07/01/26 (c)		520			544,680
5.00%, 07/01/26 (c)		280			291,434
County of Miami-Dade, Building Better Communities Program, Series A (GO) (SAW) 4.00%, 07/01/30 (c)		1,600			1,556,234

	Par (000’s		)	Value
Florida (continued)
County of Miami-Dade, Capital Asset Acquisition, Series B (RB) 3.12%, 04/01/26 (c)	$	260		$	213,231
County of Miami-Dade, Expressway Authority Toll System, Series A (RB) 5.00%, 07/01/26 (c)		25			25,464
County of Miami-Dade, Florida Transit System (RB) 4.00%, 07/01/26 (c)		250			248,626
County of Miami-Dade, Water and Sewer System (RB)
4.00%, 04/01/31 (c)		1,475			1,380,736
5.00%, 10/01/27 (c)		800			852,048
5.00%, 10/01/28		1,000			1,079,199
5.00%, 04/01/31 (c)		3,500			3,804,545
County of Miami-Dade, Water and Sewer System, Series B (RB)
3.00%, 10/01/27 (c)		370			310,113
5.00%, 10/01/25 (c)		605			623,964
County of Orange, Water and Wastewater Utility System (RB)
5.00%, 10/01/30 (c)		1,000			1,071,695
5.00%, 10/01/30 (c)		1,000			1,074,431
Florida Department of Environmental Protection, Series A (RB) 5.00%, 07/01/27		125			133,658
Florida Department of Management Services, Series A (RB) 5.00%, 09/01/27 (c)		425			455,168
Florida Development Finance Corp., Lakeland Regional Health Systems (RB) 4.00%, 11/15/31 (c)		2,000			1,827,428
Florida Housing Finance Corp., Series 1 (RB)
3.25%, 01/01/27 (c)		130			125,022
3.60%, 01/01/27 (c)		200			192,368
Florida Housing Finance Corp., Series 2 (RB)
2.10%, 01/01/30 (c)		950			726,031
3.20%, 07/01/25 (c)		225			215,727
Florida Municipal Power Agency, All-Requirements Power Supply, Series A (RB) 5.00%, 10/01/26 (c)		125			130,549
JEA Electric System, Series B (RB)
3.38%, 12/01/22 (c)		520			451,017
5.00%, 10/01/27 (c)		850			896,653
5.00%, 10/01/27 (c)		610			644,945
5.00%, 10/01/27 (c)		885			927,620

	Par (000’s		)	Value
Florida (continued)
Lee Memorial Health System, Series A-1 (RB) 5.00%, 04/01/29 (c)	$	605		$	619,595
Manatee County School District (RB) (AGM) 5.00%, 04/01/27 (c)		160			166,850
Orange County Health Facilities Authority (RB) 5.00%, 08/01/23 (c)		420			435,743
Orange County Health Facilities Authority, Series A (RB) 5.00%, 10/01/26 (c)		1,325			1,344,803
Orange County School Board, Series C (CP) 5.00%, 08/01/26 (c)		410			423,311
Orange County, Tourist Development Tax (RB)
5.00%, 10/01/25 (c)		100			102,984
5.00%, 10/01/26		190			200,416
5.00%, 10/01/29		280			303,028
5.00%, 10/01/30		490			530,359
Orlando Utilities Commission, Series A (RB) 5.00%, 10/01/27 (c)		120			127,487
Palm Beach County Health Facilities Authority, Act Retirement - Life Communities, Inc. (RB) 5.00%, 11/15/26 (c)		350			345,110
Palm Beach County School Board, Series A (CP) 5.00%, 08/01/30 (c)		275			290,021
Palm Beach County School Board, Series C (CP) 5.00%, 08/01/28 (c)		695			742,462
Palm Beach County School Board, Series D (CP) 5.00%, 08/01/25 (c)		2,000			2,073,120
Polk County School District (RB) (SAW) 5.00%, 10/01/29 (c)		1,000			1,084,008
Polk County, School District (RB) 5.00%, 10/01/29 (c)		100			107,830
Reedy Creek Improvement District, Series A (GO) 5.00%, 06/01/27 (c)		175			187,415
School Board of Miami-Dade County (GO) 3.25%, 03/15/27 (c)		125			113,241
South Miami Health Facilities Authority (RB)
5.00%, 08/15/27 (c)		710			744,679
5.00%, 08/15/27 (c)		800			827,951
State of Florida (GO) 4.00%, 06/01/27 (c)		1,000			1,002,979

	Par (000’s		)	Value
Florida (continued)
State of Florida, Board of Education, Public Education Capital Outlay, Series C (GO)
4.00%, 06/01/26 (c)	$	500		$	505,970
4.00%, 06/01/27 (c)		780			789,716
5.00%, 06/01/28 (c)		145			156,542
State of Florida, Board of Education, Public Education Capital Outlay, Series C (GO) (AMBAC) 3.00%, 06/01/29 (c)		510			432,889
State of Florida, Board of Education, Public Education Capital Outlay, Series E (GO)
2.38%, 06/01/26 (c)		590			500,863
3.00%, 06/01/25 (c)		2,000			1,864,944
State of Florida, Department of Transportation Financing Corp. (RB)
3.00%, 07/01/30 (c)		1,000			867,762
3.00%, 07/01/30 (c)		1,000			922,755
State of Florida, Department of Transportation Financing Corp., Series B (RB) 5.00%, 07/01/28 (c)		115			123,797
State of Florida, Department of Transportation, Federal Highway Reimbursement, Series A (RB) 5.00%, 07/01/30		880			959,109
State of Florida, Department of Transportation, Full Faith and Credit, Right-of-Way Acquisition and Bridge Construction, Series A (GO)
3.00%, 07/01/27 (c)		555			523,657
5.00%, 07/01/26 (c)		40			42,335
State of Florida, Department of Transportation, Turnpike, Series A (RB) 5.00%, 07/01/28 (c)		580			623,788
Volusia County School Board, Master Lease Program, Series B (CP)
5.00%, 08/01/24 (c)		1,320			1,346,794
5.00%, 08/01/24 (c)		280			286,781
					56,104,456
Georgia: 1.8%
City of Atlanta, Airport Passenger Facility Charge, Series C (RB) 5.00%, 07/01/29 (c)		800			837,637
City of Atlanta, Water and Wastewater (RB) 4.00%, 11/01/29 (c)		1,450			1,364,349
Clarke County, Hospital Authority, Series A (RB) 5.00%, 07/01/26 (c)		250			259,688

	Par (000’s		)	Value
Georgia (continued)
County of Fulton, Water and Sewerage, Series A (RB) 3.00%, 01/01/30 (c)	$	3,000		$	2,423,142
Forsyth County School District (GO)
5.00%, 02/01/28 (c)		1,000			1,078,384
5.00%, 02/01/28 (c)		1,000			1,082,190
Fulton County, Georgia Water and Sewerage (RB) 5.00%, 01/01/23 (c)		1,350			1,352,900
Gainesville and Hall County Hospital Authority, Northeast Georgia Health System, Series A (RB) 5.00%, 02/15/27 (c)		225			226,618
Georgia Housing and Finance Authority, Single Family Mortgage, Series B-1 (RB) 2.90%, 12/01/25 (c)		925			843,773
Georgia Municipal Electric Authority Project (RB) 5.00%, 01/01/23 (c)		1,000			976,688
Georgia State Road and Tollway Authority (RB)
5.00%, 06/01/30 (c)		2,000			2,175,426
5.00%, 06/01/30 (c)		2,550			2,784,708
Georgia State Road and Tollway Authority, Series A (RB) 4.00%, 07/15/31 (c)		3,255			3,202,606
Main Street Natural Gas, Inc., Gas Supply, Series A (RB) 5.00%, 05/15/38		1,000			972,710
Municipal Electric Authority of Georgia, Series A (RB) 5.00%, 07/01/26 (c)		200			205,985
Private Colleges and Universities Authority, Emory University, Series B (RB) 4.00%, 09/01/30 (c)		350			333,110
Richmond County Hospital Authority, University Health Services, Inc. Project (RB) 3.00%, 07/01/26 (c)		345			298,105
State of Georgia, Series A (GO)
4.00%, 08/01/30 (c)		935			933,494
5.00%, 02/01/26 (c)		680			715,906
5.00%, 02/01/27 (c)		350			373,796
5.00%, 02/01/27 (c)		150			160,047
5.00%, 02/01/27 (c)		1,200			1,271,157
5.00%, 08/01/29		2,500			2,758,238
State of Georgia, Series C (GO) 5.00%, 07/01/27 (c)		3,000			3,218,087
					29,848,744
Hawaii: 1.1%
City and County of Honolulu Wastewater System (RB) 5.00%, 07/01/29 (c)		875			928,816

	Par (000’s		)	Value
Hawaii (continued)
City and County of Honolulu, Rail Transit Project, Series B (GO) 5.00%, 03/01/30 (c)	$	1,930		$	2,113,942
City and County of Honolulu, Rail Transit Project, Series B (GO) (SD CRED PROG) 5.00%, 03/01/30		350			384,632
City and County of Honolulu, Series B (GO) 5.00%, 09/01/27 (c)		1,015			1,079,568
City and County of Honolulu, Series C (GO) 4.00%, 08/01/29 (c)		750			717,185
City and County of Honolulu, Series C (GO) (BAM) 4.00%, 08/01/29 (c)		120			117,467
City and County of Honolulu, Wastewater System, Series A (RB) 4.00%, 07/01/26 (c)		970			976,037
City and County of Honolulu, Wastewater System, Series B (RB)
4.00%, 07/01/26 (c)		100			99,542
5.00%, 07/01/29 (c)		395			429,016
State of Hawaii (RB) 5.00%, 01/01/31 (c)		2,250			2,408,994
State of Hawaii, Department of Budget and Finance, Series A (RB)
5.00%, 07/01/25		175			181,310
6.00%, 07/01/23 (c)		1,000			1,016,136
State of Hawaii, Series ET (GO) 3.00%, 10/01/25 (c)		1,000			966,362
State of Hawaii, Series FH (GO) 5.00%, 10/01/26 (c)		15			15,901
State of Hawaii, Series FK (GO)
3.25%, 05/01/27 (c)		1,000			915,185
5.00%, 05/01/27 (c)		690			725,436
5.00%, 05/01/27 (c)		130			137,117
State of Hawaii, Series FN (GO)
5.00%, 10/01/27 (c)		105			112,809
5.00%, 10/01/27 (c)		500			534,846
State of Hawaii, Series FT (GO)
4.00%, 01/01/28 (c)		295			297,498
5.00%, 01/01/28 (c)		280			300,635
5.00%, 01/01/28 (c)		405			431,078
5.00%, 01/01/28 (c)		1,150			1,227,927
5.00%, 10/01/27 (c)		1,020			1,085,390
State of Hawaii, Series FW (GO) 5.00%, 01/01/29		1,180			1,282,116
University of Hawaii, Series E (RB) 5.00%, 10/01/26 (c)		285			298,498
					18,783,443

	Par (000’s		)	Value
Illinois: 4.9%
Board of Trustees of the University of Illinois, Auxiliary Facilities Sytem, Series A (RB) 5.00%, 04/01/30	$	1,000		$	1,075,988
Chicago Board of Education (ST) 5.75%, 04/01/27 (c)		235			242,115
Chicago O'Hare International Airport, Series A (RB) 5.00%, 01/01/30 (c)		1,000			1,034,718
Chicago O'Hare International Airport, Series A (RB) (AGM) 4.00%, 01/01/30 (c)		2,000			1,843,350
Chicago O'Hare International Airport, Series B (RB)
5.00%, 01/01/27 (c)		470			483,320
5.00%, 01/01/27 (c)		365			373,583
Chicago O'Hare International Airport, Series C (RB) 5.00%, 01/01/26 (c)		135			138,440
City of Chicago, Board of Education, Dedicated Capital Improvement Tax (ST) 5.75%, 04/01/27 (c)		100			103,385
City of Chicago, Second Lien Water (RB) 5.00%, 11/01/27 (c)		1,390			1,414,900
City of Chicago, Second Lien Water (RB) (AGM)
5.00%, 11/01/27 (c)		2,000			2,032,700
5.00%, 11/01/27 (c)		1,420			1,446,796
5.25%, 11/01/27 (c)		180			185,386
City of Chicago, Series A (GO)
5.00%, 01/01/24 (c)		1,500			1,423,761
5.00%, 01/01/24 (c)		1,250			1,180,263
5.00%, 01/01/30		2,000			1,971,986
5.00%, 01/01/31 (c)		1,000			966,494
City of Chicago, Series A (GO) (SAW) 5.00%, 01/01/29		200			198,683
City of Chicago, Series B (GO) 4.00%, 01/01/30		358			328,417
City of Chicago, Wastewater Transmission, Series B (RB) 5.00%, 01/01/27 (c)		750			743,740
City of Springfield, Electric Revenue, Senior Lien (RB) (AGM) 5.00%, 03/01/25 (c)		15			15,363
Community Unit School District No. 300, Kane, McHenry, Cook and DeKalb Counties (GO) 5.00%, 01/01/25 (c)		210			212,782
Cook County, Series A (GO)
5.00%, 11/15/26 (c)		325			337,850
5.00%, 11/15/26 (c)		250			261,404

	Par (000’s		)	Value
Illinois (continued)
Illinois Finance Authority, Carle Foundation, Series A (RB) 5.00%, 08/15/31 (c)	$	1,000		$	1,031,757
Illinois Finance Authority, Clean Water Initiative (RB)
4.00%, 01/01/26 (c)		165			166,684
4.00%, 01/01/31 (c)		750			740,953
4.00%, 01/01/31 (c)		1,000			978,618
5.00%, 01/01/26 (c)		685			713,497
5.00%, 01/01/27 (c)		700			732,487
5.00%, 01/01/27 (c)		400			425,255
5.00%, 01/01/27 (c)		140			148,555
5.00%, 01/01/31 (c)		750			805,656
5.00%, 07/01/29 (c)		2,560			2,712,832
Illinois Finance Authority, Clean Water Initiative (RB) (AGM) 5.00%, 07/01/29 (c)		1,400			1,485,493
Illinois Finance Authority, Mercy Health Corp. (RB)
4.00%, 06/01/26 (c)		90			83,879
4.00%, 06/01/26 (c)		160			151,318
5.00%, 06/01/26 (c)		250			252,226
Illinois Finance Authority, NorthShore University HealthSystem, Series A (RB)
5.00%, 08/15/30 (c)		1,295			1,347,308
5.00%, 08/15/30 (c)		1,365			1,434,449
5.00%, 08/15/30 (c)		1,000			1,045,026
Illinois Finance Authority, Presence Health Network, Series C (RB)
5.00%, 02/15/27 (c)		1,000			1,032,697
5.00%, 02/15/27 (c)		1,000			1,041,461
Illinois Finance Authority, Rush University Medical Center, Series A (RB) 5.00%, 05/15/25 (c)		125			127,766
Illinois Housing Development Authority, Series B (RB) 3.45%, 04/01/27 (c)		420			383,960
Illinois State Finance Authority, Ann & Robert H. Lurie Children's Hospital (RB) 4.00%, 08/15/27 (c)		1,000			916,569
Illinois State Finance Authority, University of Chicago, Series A (RB) 5.00%, 10/01/33		1,000			1,097,837
Illinois State Municipal Electric Agency, Power Supply, Series A (RB) 4.00%, 08/01/25 (c)		2,000			1,890,603
Illinois State Toll Highway Authority, Series A (RB)
5.00%, 01/01/23 (c)		1,135			1,136,839
5.00%, 01/01/28 (c)		510			539,928
5.00%, 01/01/29		175			188,531

	Par (000’s		)	Value
Illinois (continued)
Illinois State Toll Highway Authority, Series B (RB) 5.00%, 01/01/26 (c)	$	1,500		$	1,523,287
Illinois State Toll Highway Authority, Series C (RB) 5.00%, 01/01/30 (c)		2,550			2,771,676
Kane, Cook, and Dupage Counties, School District No. U-46, Series D (GO) 5.00%, 01/01/24 (c)		335			338,571
Metropolitan Water Reclamation District of Greater Chicago, Series A (GO)
5.00%, 12/01/26 (c)		780			821,338
5.00%, 12/01/26 (c)		115			122,082
Northern Illinois Municipal Power Agency, Series A (RB)
4.00%, 12/01/26 (c)		1,500			1,360,130
4.00%, 12/01/26 (c)		1,235			1,193,545
5.00%, 12/01/26 (c)		910			960,705
5.00%, 12/01/26 (c)		990			1,043,622
Regional Transportation Authority of Illinois, Series A (RB) 5.00%, 07/01/27 (c)		500			529,594
Sales Tax Securitization Corp., Series A (RB)
5.00%, 01/01/28 (c)		570			582,058
5.00%, 01/01/28 (c)		1,150			1,186,745
5.00%, 01/01/28 (c)		585			604,307
5.00%, 01/01/28 (c)		250			256,608
5.00%, 01/01/28 (c)		250			256,166
Sales Tax Securitization Corp., Series A (RB) (BAM) 5.00%, 01/01/30 (c)		155			156,791
State of Illinois (GO)
3.50%, 06/01/26 (c)		685			628,939
4.00%, 03/01/31 (c)		1,000			836,805
4.12%, 11/01/26 (c)		360			331,315
5.00%, 11/01/26 (c)		305			297,279
5.00%, 06/01/26 (c)		370			370,705
5.50%, 07/01/23 (c)		1,470			1,473,522
State of Illinois (GO) (AGC) 5.50%, 05/01/30		1,300			1,340,881
State of Illinois (RB)
3.00%, 06/15/26 (c)		680			577,300
3.00%, 06/15/26 (c)		320			261,259
State of Illinois, Sales Tax (RB)
5.00%, 06/15/30		1,000			1,037,838
5.00%, 06/15/31		1,500			1,550,995
State of Illinois, Sales Tax (RB) (BAM) 3.00%, 06/15/31 (c)		3,000			2,546,912
State of Illinois, Series A (GO)
5.00%, 12/01/27 (c)		1,000			970,762
5.00%, 03/01/31		500			499,474
5.00%, 03/01/31 (c)		1,000			981,601
5.00%, 05/01/28 (c)		2,250			2,188,098

	Par (000’s		)	Value
Illinois (continued)
5.25%, 12/01/27 (c)	$	1,200		$	1,212,940
State of Illinois, Series B (GO) 5.00%, 11/01/29 (c)		1,000			999,737
State of Illinois, Series C (GO) 5.00%, 11/01/27 (c)		4,105			4,108,568
State of Illinois, Series D (GO) 5.00%, 11/01/27 (c)		3,910			3,916,841
State of Illinois, Series D (RB) 5.00%, 06/15/26 (c)		620			634,580
					81,101,184
Indiana: 0.8%
Carmel Local Public Improvement Bond Bank (RB) 5.00%, 07/15/26 (c)		15			15,761
Duneland School Building Corp., AD Valorem Property Tax (RB) 3.00%, 01/15/32 (c)		1,000			796,214
Indiana Finance Authority Highway, Series C (RB) 5.00%, 12/01/26 (c)		340			361,738
Indiana Finance Authority, First Lien Wastewater Utility (RB) 4.00%, 10/01/31 (c)		2,500			2,412,696
Indiana Finance Authority, Parkview Health, Series A (RB) 5.00%, 11/01/27		250			266,031
Indiana Finance Authority, Series A (RB)
5.00%, 02/01/28 (c)		200			214,113
5.00%, 02/01/28 (c)		1,310			1,412,776
5.00%, 02/01/29 (c)		220			234,555
5.00%, 02/01/29 (c)		175			187,167
Indiana Finance Authority, Series C (RB)
5.00%, 02/01/28 (c)		1,000			1,080,187
5.00%, 02/01/28 (c)		610			657,857
Indiana Finance Authority, Series E (RB)
5.00%, 02/01/29 (c)		105			113,675
5.00%, 02/01/29 (c)		1,250			1,332,698
5.00%, 06/01/29		935			1,019,234
5.00%, 08/01/26 (c)		100			105,704
Indiana Housing and Community Development Authority, Single Family Mortgage, Series A-1 (RB) 2.85%, 07/01/25 (c)		20			19,624
Indiana Municipal Power Agency, Series A (RB) 5.00%, 01/01/28 (c)		250			264,069
Indianapolis Local Public Improvement Bond Bank, Courhouse and Jail Project, Series A (RB)
5.00%, 02/01/29		710			770,874
5.00%, 02/01/29 (c)		1,715			1,850,435

	Par (000’s		)	Value
Indiana (continued)
Indianapolis Local Public Improvement Bond Bank, Pilot Infrastructure Project, Series C (RB) 4.00%, 01/01/28 (c)	$	160		$	159,788
					13,275,196
Iowa: 0.2%
Iowa Finance Authority (RB) 5.00%, 08/01/27 (c)		1,000			1,062,634
Iowa Finance Authority, Series A (RB)
5.00%, 08/01/31 (c)		1,000			1,080,319
5.00%, 08/01/31 (c)		500			542,219
					2,685,172
Kansas: 0.5%
Butler County Unified School District No. 385 (GO)
4.00%, 09/01/27 (c)		500			504,104
4.00%, 09/01/27 (c)		300			300,926
County of Johnson, Internal Improvement, Series A (GO) 4.00%, 09/01/27 (c)		750			744,679
Johnson County, Unified School District No. 233, Series A (GO) 4.00%, 09/01/31 (c)		1,000			968,087
Kansas Development Finance Authority, AdventHealth, Series A (RB) 5.00%, 11/15/31 (p)		3,950			4,199,677
State of Kansas, Department of Transportation Highway, Series A (RB)
5.00%, 09/01/27 (c)		775			817,223
5.00%, 09/01/27 (c)		630			667,387
5.00%, 09/01/27 (c)		150			157,694
					8,359,777
Kentucky: 0.6%
Kentucky Energy Authority, Gas Supply, Series A (RB) 4.00%, 08/01/30 (c) (p)		1,200			1,099,406
Kentucky Municipal Power Agency, Prairie State Project, Series A (RB) (NATL) 5.00%, 09/01/25 (c)		200			208,668
Kentucky State Property & Building Commission, Project No. 115 (RB) (BAM) 5.00%, 04/01/27 (c)		1,420			1,489,234
Kentucky State Property & Building Commission, Project No. 119 (RB) (BAM) 5.00%, 05/01/28 (c)		3,285			3,452,270
Louisville and Jefferson County, Metro Government, Norton Healthcare, Inc., Series A (RB)
5.00%, 10/01/26 (c)		290			296,022
5.00%, 10/01/26 (c)		55			56,445

	Par (000’s		)	Value
Kentucky (continued)
Louisville and Jefferson County, Metro Government, Norton Healthcare, Inc., Series D (RB) 5.00%, 10/01/29 (c) (p)	$	1,000		$	1,041,865
Louisville and Jefferson County, Metropolitan Sewer District, Kentucky Sewer and Drainage System, Series A (RB) 4.00%, 05/15/23 (c)		2,000			1,960,304
Paducah Electric Plant Board, Series A (RB) (AGM) 5.00%, 10/01/26		20			21,239
University of Kentucky, Series A (RB)
3.00%, 04/01/26 (c)		770			638,780
4.00%, 04/01/26 (c)		500			505,151
					10,769,384
Louisiana: 0.8%
City of New Orleans, Louisiana Public Improvement, Series A (GO) 5.00%, 12/01/30 (c)		1,000			1,035,146
Jefferson Sales Tax District, Parish of Jefferson, Series B (RB) (AGM) 5.00%, 12/01/29 (c)		615			652,358
Jefferson Sales Tax District, Series B (RB) (AGM) 4.00%, 12/01/29 (c)		500			471,889
Louisiana Local Government Environmental Facilities and Community Development Authority, Westlake Chemical Corp. Project (RB) 3.50%, 11/01/27 (c)		3,540			3,170,128
Louisiana Local Government Environmental Facilities and Community Development Authority, Woman's Hospital Foundation Project, Series A (RB) 3.25%, 10/01/27 (c)		200			177,275
Louisiana Local Government Environmental Facilities and Community Development, Series B (RB) 2.50%, 04/01/26 (c)		1,455			1,078,498
State of Louisiana, Series A (GO)
3.50%, 04/01/27 (c)		150			139,547
5.00%, 03/01/29 (c)		115			124,240
5.00%, 03/01/30 (c)		930			1,001,988
5.00%, 03/01/31 (c)		750			820,445
5.00%, 03/01/31 (c)		1,000			1,063,711
5.00%, 04/01/27 (c)		565			603,821
5.00%, 09/01/26 (c)		640			672,300
State of Louisiana, Series A (GO) (BAM) 5.00%, 03/01/30 (c)		910			980,921

	Par (000’s		)	Value
Louisiana (continued)
5.00%, 03/01/30 (c)	$	425		$	452,964
State of Louisiana, Series B (GO) 5.00%, 08/01/26 (c)		200			210,112
					12,655,343
Maryland: 2.7%
City of Baltimore, Consolidated Public Improvement, Series B (GO) 5.00%, 10/15/27 (c)		250			268,373
County of Baltimore (GO)
4.00%, 03/01/30 (c)		1,140			1,145,545
5.00%, 03/01/30 (c)		325			358,625
5.00%, 03/01/30		945			1,046,245
County of Baltimore (GO) (AGC) 4.00%, 03/01/29 (c)		1,925			1,933,227
County of Montgomery, Series A (GO) 3.00%, 08/01/30 (c)		750			683,478
County of Montgomery, Series C (GO) 4.00%, 10/01/27 (c)		1,070			1,090,284
Maryland Department of Transportation (RB) 3.00%, 09/01/27 (c)		500			464,037
Maryland Stadium Authority, Baltimore City Public School Construction and Revitalization Program (RB) 5.00%, 05/01/26 (c)		250			257,657
Maryland Stadium Authority, Baltimore City Public School Construction and Revitalization Program, Series A (RB) 5.00%, 05/01/28 (c)		1,000			1,046,305
Maryland State, Series A (GO)
3.25%, 08/01/23 (c)		2,000			1,931,603
5.00%, 08/01/30 (c)		1,000			1,089,262
Maryland Transportation Authority, Transportation Facilities Projects, Series A (RB) 5.00%, 07/01/30		1,900			2,093,498
Prince George's County, Series A (GO)
5.00%, 07/15/28 (c)		1,150			1,249,611
5.00%, 07/15/28 (c)		2,500			2,660,063
Prince George's County, Series A (GO) (SAW) 4.00%, 07/15/28 (c)		1,000			1,022,173
State of Maryland, Department of Transportation (RB)
2.12%, 10/01/29 (c)		2,000			1,407,952
3.00%, 11/01/24 (c)		520			488,063
3.00%, 11/01/24 (c)		1,000			959,133
3.12%, 05/01/25 (c)		855			807,567
4.00%, 05/01/28 (c)		750			767,969

	Par (000’s		)	Value
Maryland (continued)
State of Maryland, Department of Transportation (RB) (SAW) 2.12%, 10/01/27 (c)	$	2,340		$	1,920,365
State of Maryland, State and Local Facilities Loan (GO)
4.00%, 08/01/28 (c)		530			538,328
5.00%, 03/15/29 (c)		3,000			3,261,571
5.00%, 08/01/28 (c)		1,000			1,085,670
State of Maryland, State and Local Facilities Loan, Series A (GO)
3.00%, 08/01/27 (c)		1,000			927,255
3.12%, 03/15/28 (c)		250			228,937
4.00%, 03/15/27 (c)		1,185			1,206,307
5.00%, 03/15/28 (c)		1,255			1,358,935
5.00%, 03/15/29		1,000			1,096,702
5.00%, 03/15/30 (c)		5,500			6,074,418
5.00%, 08/01/30 (c)		1,125			1,234,642
5.00%, 08/01/31 (c)		1,400			1,551,506
Washington Suburban Sanitary District, Maryland Consolidated Public Improvement (GO)
5.00%, 06/01/26 (c)		750			781,142
5.00%, 06/01/27 (c)		550			589,019
					44,625,467
Massachusetts: 3.1%
City of Boston, Series A (GO) 5.00%, 03/01/29		100			109,860
Commonwealth of Massachusetts, Accelerated Bridge Program, Series A (RB) 5.00%, 06/01/24 (c)		980			996,483
Commonwealth of Massachusetts, Series B (GO)
5.00%, 07/01/26 (c)		600			628,831
5.00%, 07/01/26 (c)		1,860			1,935,065
Commonwealth of Massachusetts, Series C (GO)
3.00%, 02/01/24 (c)		400			371,288
5.00%, 05/01/23 (c)		350			351,894
5.00%, 05/01/23 (c)		205			206,312
5.00%, 05/01/23 (c)		2,000			2,013,424
5.00%, 05/01/30		1,000			1,099,073
Commonwealth of Massachusetts, Series C (GO) (AGM) 5.00%, 05/01/31		2,665			2,941,130
Commonwealth of Massachusetts, Series D (GO)
4.00%, 11/01/30 (c)		2,000			1,939,282
4.00%, 05/01/28 (c)		1,165			1,142,756
5.00%, 07/01/30 (c)		365			390,344
Commonwealth of Massachusetts, Series D (GO) (SBG) 5.00%, 07/01/30 (c)		2,000			2,125,488

	Par (000’s		)	Value
Massachusetts (continued)
Commonwealth of Massachusetts, Series E (GO)
3.00%, 11/01/27 (c)	$	1,275		$	1,136,659
4.00%, 04/01/25 (c)		1,000			996,928
5.00%, 11/01/27 (c)		100			106,298
5.00%, 11/01/30 (c)		1,000			1,091,663
5.00%, 09/01/28 (c)		1,010			1,060,063
Commonwealth of Massachusetts, Series I (GO) 5.00%, 12/01/26 (c)		10			10,621
Commonwealth of Massachusetts, Transportation Fund, Series A (GO) 5.00%, 12/01/26 (c)		500			523,514
Commonwealth of Massachusetts, Transportation Fund, Series A (RB)
4.00%, 12/01/27 (c)		450			439,452
5.00%, 06/01/24 (c)		1,275			1,300,423
5.00%, 06/01/31 (c)		800			854,222
Massachusetts Bay Transportation Authority, Series A (RB) 0.00%, 07/01/26 (c) ^		130			94,577
Massachusetts Clean Water Trust (RB) 5.00%, 08/01/28 (c)		1,000			1,071,144
Massachusetts Clean Water Trust, Series A (RB) 5.00%, 02/01/31 (c)		540			582,344
Massachusetts Department of Transportation, Metropolitan Highway System, Series A (RB) 5.00%, 01/01/29		1,000			1,088,278
Massachusetts Department of Transportation, Metropolitan Highway System, Series A (RB) (SAW) 5.00%, 01/01/29 (c)		1,000			1,070,982
Massachusetts Development Finance Agency, Beth Israel Lahey Health Issue, Series K (RB) 5.00%, 07/01/29 (c)		255			260,154
Massachusetts Development Finance Agency, Beth Israel Lahey Health, Inc., Series I (RB) 5.00%, 07/01/26 (c)		200			207,087
Massachusetts Development Finance Agency, CareGroup Issue, Series J-2 (RB) (SBG) 5.00%, 07/01/28 (c)		130			134,406

	Par (000’s		)	Value
Massachusetts (continued)
Massachusetts Development Finance Agency, Harvard University Issue, Series A (RB)
4.00%, 07/15/26 (c)	$	2,000		$	1,968,431
5.00%, 07/15/26 (c)		480			502,994
5.00%, 07/15/26 (c)		6,300			6,624,119
Massachusetts Development Finance Agency, Partners Healthcare System, Series S (RB) 4.00%, 01/01/28 (c)		1,500			1,415,261
Massachusetts Development Finance Agency, Suffolk University (RB) 5.00%, 07/01/27 (c)		500			499,837
Massachusetts Development Finance Agency, Williams College, Series P (RB) 5.00%, 07/01/23 (c)		1,500			1,502,803
Massachusetts Housing Finance Agency, Series B-1 (RB) (FHA) 2.75%, 12/01/28 (c)		150			123,933
Massachusetts School Building Authority, Dedicated Sales Tax, Series C (RB) 5.00%, 11/15/26 (c)		125			130,366
Massachusetts Water Resources Authority, Series B (RB) 5.00%, 08/01/30 (c)		1,500			1,593,208
Massachusetts Water Resources Authority, Series B (RB) (AGM) 5.25%, 08/01/30		2,000			2,244,544
Massachusetts Water Resources Authority, Series C (RB) 5.00%, 08/01/27 (c)		2,115			2,248,421
University of Massachusetts Building Authority, Series 1 (RB)
5.00%, 11/01/29 (c)		750			798,996
5.00%, 11/01/29 (c)		475			509,230
5.00%, 05/01/29 (c)		1,220			1,302,131
University of Massachusetts Building Authority, Series 1 (RB) (SD CRED PROG) 5.00%, 11/01/29 (c)		500			538,883
University of Massachusetts Building Authority, Series 3 (RB) 5.00%, 11/01/27 (c)		1,020			1,086,261
					51,369,463
Michigan: 1.1%
Board of Governors of Wayne State University, Series A (RB)
5.00%, 05/15/26 (c)		285			296,577

	Par (000’s		)	Value
Michigan (continued)
Board of Trustees of Michigan State University, Series B (RB) 5.00%, 02/15/29 (c)	$	340		$	361,869
Detroit Wayne County, School District, Series A (GO) (AGM Q-SBLF) 6.00%, 05/01/29		3,500			3,787,185
Great Lakes Water Authority, Sewage Disposal System, Second Lien, Series C (RB)
5.00%, 07/01/26 (c)		250			263,005
5.00%, 07/01/26 (c)		250			262,451
Great Lakes Water Authority, Sewage Disposal System, Senior Lien, Series B (RB)
5.00%, 07/01/26 (c)		570			594,602
5.00%, 07/01/26 (c)		500			522,680
5.00%, 07/01/26 (c)		290			301,245
Great Lakes Water Authority, Sewage Disposal System, Senior Lien, Series C (RB)
5.00%, 07/01/26 (c)		30			31,398
5.00%, 07/01/26 (c)		1,025			1,064,747
Great Lakes Water Authority, Water Supply System, Second Lien, Series D (RB) 5.00%, 07/01/26 (c)		130			136,475
Michigan Finance Authority, Charter County of Wayne Criminal Justice Center Project (RB) (SAW) 5.00%, 11/01/28 (c)		2,645			2,848,364
Michigan Finance Authority, Henry Ford Health System (RB) 3.00%, 11/15/26 (c)		140			117,885
Michigan Finance Authority, Local Government Loan Program, Series H-1 (RB)
5.00%, 10/01/24 (c)		725			734,434
5.00%, 11/15/26 (c)		150			155,494
Michigan Finance Authority, Tabaco Settlement, Series A (RB) 5.00%, 12/01/30 (c)		500			504,542
Michigan Finance Authority, Trinity Health Credit Group, Series MI (RB)
5.00%, 12/01/27 (c)		585			599,071
5.00%, 06/01/27 (c)		75			78,665
Michigan State Building Authority, Series I (RB)
5.00%, 10/15/25 (c)		5			5,237
5.00%, 10/15/25 (c)		10			10,378
5.00%, 10/15/25 (c)		25			26,185
5.00%, 10/15/26 (c)		120			123,167
5.00%, 10/15/26 (c)		125			130,065
5.00%, 10/15/26 (c)		570			597,120

	Par (000’s		)	Value
Michigan (continued)
Michigan State Hospital Finance Authority, Series C (RB) 5.00%, 12/01/27	$	100		$	106,882
Michigan State Housing Development Authority, Single-Family Mortgage, Series B (RB)
3.10%, 06/01/26 (c)		1,370			1,236,297
3.35%, 06/01/26 (c)		135			117,823
State of Michigan Trunk Line, Series A (RB) 5.00%, 11/15/31 (c)		1,900			2,046,806
State of Michigan, Environmental Program (GO) 3.00%, 05/01/26 (c)		410			386,701
State of Michigan, Environmental Program, Series A (GO) 3.00%, 05/15/30 (c)		750			611,083
Wayne County Airport Authority, Deroit Metropolitan Airport, Series A (RB) 5.00%, 12/01/28 (c)		560			595,275
					18,653,708
Minnesota: 1.0%
City of Minneapolis, Fairview Health Services, Series A (RB) 5.00%, 11/15/28 (c)		125			127,269
County of Hennepin, Minnesota First Lien, Ballpark Project, Series A (RB) 5.00%, 12/15/26 (c)		1,000			1,049,521
Minneapolis-St. Paul Metropolitan Airports Commission, Series A (RB)
5.00%, 01/01/24 (c)		1,000			1,011,980
5.00%, 07/01/29 (c)		200			208,866
Minneapolis-St. Paul Metropolitan Airports Commission, Series B (RB)
5.00%, 01/01/27 (c)		325			339,858
5.00%, 01/01/27 (c)		515			539,536
Regents of the University of Minnesota, Series B (RB) 5.00%, 12/01/27 (c)		1,000			1,063,206
Roseville Independent School District No. 623 (GO) (SD CRED PROG) 5.00%, 02/01/27 (c)		500			530,232
State of Minnesota, State Trunk Highway, Series E (GO) 3.00%, 10/01/27 (c)		120			114,051
State of Minnesota, Various Purpose, Series A (GO)
5.00%, 10/01/27 (c)		400			430,697
5.00%, 08/01/29 (c)		1,000			1,065,692
5.00%, 08/01/29 (c)		1,000			1,080,085

	Par (000’s		)	Value
Minnesota (continued)
5.00%, 08/01/29	$	400		$	440,301
5.00%, 08/01/30 (c)		2,000			2,148,130
5.00%, 08/01/30 (c)		2,000			2,142,129
State of Minnesota, Various Purpose, Series D (GO)
2.25%, 08/01/26 (c)		925			839,165
3.00%, 10/01/27 (c)		1,000			932,343
3.00%, 10/01/27 (c)		1,000			942,385
University of Minnesota, Series B (RB) 5.00%, 12/01/27 (c)		805			861,195
					15,866,641
Mississippi: 0.3%
State of Mississippi, Series A (GO)
5.00%, 10/01/27 (c)		430			461,020
5.00%, 10/01/27 (c)		880			941,744
State of Mississippi, Series A (RB)
5.00%, 10/15/28 (c)		400			418,950
5.00%, 10/15/28 (c)		550			569,186
5.00%, 10/15/28 (c)		1,000			1,040,725
State of Mississippi, Series B (GO) 4.00%, 10/01/29 (c)		295			281,843
State of Mississippi, Series C (GO) 5.00%, 10/01/28 (c)		1,005			1,067,209
					4,780,677
Missouri: 0.5%
City of Kansas, Series C (RB) 5.00%, 09/01/27 (c)		1,030			1,092,270
Curators of the University of Missouri, Series B (RB) 5.00%, 11/01/30		1,400			1,534,223
Health and Educational Facilities Authority, Mercy Health, Series A (RB) 5.00%, 12/01/28 (c)		250			263,213
Missouri Joint Municipal Electric Utility Commission, Prairie State Project, Series A (RB) 4.00%, 06/01/26 (c)		685			676,603
Platte County Park Hill School District (GO) (SAW)
3.00%, 03/01/26 (c)		105			93,996
3.00%, 03/01/26 (c)		225			198,736
Springfield School District No. R-12 (GO) 4.00%, 03/01/29 (c)		650			648,057
Springfield School District No. R-12 (GO) (SAW)
4.00%, 03/01/28 (c)		95			96,443
4.00%, 03/01/29 (c)		1,415			1,401,032
5.00%, 03/01/29 (c)		450			473,854
St. Louis County, Convention Center, Series A (RB) 5.25%, 12/01/30 (c)		1,000			1,057,307
					7,535,734

	Par (000’s		)	Value
Montana: 0.1%
City of Forsyth, Rosebud County, Montana Pollution Control, Series A (RB) 3.90%, 03/01/23 (c)	$	1,000		$	929,458
Montana Facility Finance Authority, SCL Health System, Series A (RB) 5.00%, 01/01/29		150			162,115
					1,091,573
Nebraska: 0.4%
Central Plains Energy Project, Gas Project Crossover No. 3, Series A (RB) 5.00%, 09/01/34		3,300			3,295,191
Central Plains Energy Project, Gas Project Crossover, Series A (RB) 5.00%, 09/01/32		1,280			1,296,007
Omaha Public Power District, Electric System, Series A (RB) 5.00%, 12/01/27 (c)		100			105,775
Omaha Public Power District, Electric System, Series A (RB) (SAW) 5.00%, 02/01/29 (c)		1,125			1,223,691
					5,920,664
Nevada: 0.9%
Clark County, Las Vegas McCarran International Airport Passenger Facility, Series E (RB) 5.00%, 07/01/29 (c)		1,200			1,261,392
Clark County, Limited Tax (GO) 4.00%, 06/01/29 (c)		1,000			974,821
Clark County, Limited Tax, Series A (GO)
5.00%, 06/01/28 (c)		150			157,822
5.00%, 06/01/28 (c)		1,110			1,192,514
Clark County, Limited Tax, Series C (GO)
3.00%, 07/01/27 (c)		270			228,327
3.00%, 07/01/27 (c)		305			268,194
Clark County, Nevada McCarran International Airport, Series B (RB) 5.00%, 07/01/29 (c)		275			291,784
Clark County, Nevada McCarran International, Airport Passenger Facility, Series E (RB) 5.00%, 07/01/29 (c)		470			497,273
Clark County, School District, Series A (GO) (AGM)
5.00%, 06/15/30 (c)		915			974,332
5.00%, 06/15/30 (c)		1,000			1,075,538
Clark County, School District, Series B (GO) 4.00%, 11/01/26 (c)		155			156,936

	Par (000’s		)	Value
Nevada (continued)
Clark County, School District, Series C (GO) 5.00%, 12/15/27 (c)	$	1,050		$	1,105,611
Clark County, School, District, Series B (GO) 4.00%, 11/01/26 (c)		250			251,219
Clark County, School, District, Series B (GO) (BAM) 3.00%, 06/15/30 (c)		1,500			1,142,420
Clark County, Water Reclamation District (GO) 3.00%, 07/01/26 (c)		630			613,192
Clark County. Limited Tax Bond Bank, Series B (GO) 5.00%, 11/01/26 (c)		300			317,340
State of Nevada, Highway Improvement, Motor Vehicle Fuel Tax (RB)
4.00%, 06/01/27 (c)		1,000			1,004,329
5.00%, 06/01/27 (c)		795			843,322
State of Nevada, Highway Improvement, Motor Vehicle Fuel Tax (RB) (AGM)
3.38%, 06/01/28 (c)		325			293,878
4.00%, 06/01/28 (c)		760			765,837
4.00%, 06/01/28 (c)		760			768,552
Truckee Meadows Water Authority (RB)
5.00%, 07/01/26 (c)		30			31,403
5.00%, 07/01/26 (c)		355			369,497
					14,585,533
New Jersey: 4.0%
County of Hudson (GO)
2.00%, 11/15/28 (c)		685			488,773
2.00%, 11/15/28 (c)		2,000			1,454,814
2.12%, 11/15/28 (c)		265			188,948
New Jersey Economic Development Authority, Montclair State University Student Housing Project (RB) (AGM) 4.00%, 06/01/27 (c)		275			266,787
New Jersey Economic Development Authority, Motor Vehicle Surcharges, Series A (RB) (BAM) 3.12%, 07/01/27 (c)		755			661,733
New Jersey Economic Development Authority, New Jersey Transit Corp. Project, Series A (RB) (AGM) 5.00%, 11/01/29 (c)		260			265,895
New Jersey Economic Development Authority, New Jersey Transit Transportation Project, Series A (RB) (AGM) 5.00%, 11/01/29 (c)		1,000			1,018,504

	Par (000’s		)	Value
New Jersey (continued)
New Jersey Economic Development Authority, School Facilities Construction, Series AAA (RB) 5.50%, 12/15/26 (c)	$	380		$	391,810
New Jersey Economic Development Authority, School Facilities Construction, Series DDD (RB)
5.00%, 06/15/27 (c)		615			619,922
5.00%, 06/15/27 (c)		935			948,005
New Jersey Economic Development Authority, School Facilities Construction, Series LLL (RB) 5.00%, 12/15/29 (c)		1,250			1,250,708
New Jersey Economic Development Authority, School Facilities Construction, Series MMM (RB) 4.00%, 12/15/29 (c)		1,080			975,108
New Jersey Economic Development Authority, State House Project, Series B (RB)
4.00%, 12/15/28 (c)		1,290			1,272,401
5.00%, 12/15/28 (c)		315			320,619
New Jersey Educational Facilities Authority, Higher Educational Capital Improvement, Series A (RB) 4.00%, 09/01/24 (c)		1,000			959,091
New Jersey Educational Facilities Authority, Princeton University, Series C (RB)
2.00%, 03/01/31 (c)		2,000			1,405,067
2.00%, 03/01/31 (c)		1,975			1,419,034
2.00%, 03/01/31 (c)		1,000			736,186
New Jersey Educational Facilities Authority, Princeton University, Series I (RB) 5.00%, 07/01/27 (c)		500			531,362
New Jersey Health Care Facilities Financing Authority, Inspira Health, Series A (RB) 3.38%, 07/01/27 (c)		360			317,225
New Jersey Health Care Facilities Financing Authority, Robert Wood Jonson University Hospital, Series A (RB) 5.25%, 07/01/23 (c)		2,355			2,370,868
New Jersey Health Care Facilities Financing Authority, RWJ Barnabas Health, Series A (RB) 4.00%, 07/01/26 (c)		1,590			1,528,837

	Par (000’s		)	Value
New Jersey (continued)
New Jersey Health Care Facilities Financing Authority, Valley Health System (RB) 5.00%, 07/01/29 (c)	$	1,000		$	1,033,263
New Jersey State Turnpike Authority, Series B (RB)
5.00%, 01/01/28 (c)		1,080			1,135,090
5.00%, 01/01/28 (c)		2,900			3,044,354
5.00%, 01/01/28 (c)		115			121,296
New Jersey State, COVID-19, Series A (GO)
4.00%, 06/01/32		1,135			1,128,034
5.00%, 06/01/29		1,000			1,080,918
New Jersey Transportation Trust Fund Authority, Series A (RB)
4.00%, 12/15/28 (c)		2,830			2,701,653
5.00%, 12/15/28 (c)		1,395			1,416,964
5.00%, 12/15/28 (c)		1,000			999,516
5.00%, 12/15/28 (c)		1,100			1,108,767
5.00%, 12/15/28		500			520,850
5.00%, 06/15/26 (c)		435			446,811
5.00%, 06/15/31 (c)		500			511,909
New Jersey Transportation Trust Fund Authority, Series A-1 (RB) 4.10%, 06/15/26 (c)		780			766,024
New Jersey Transportation Trust Fund Authority, Series AA (RB)
5.00%, 12/15/30 (c)		1,200			1,183,427
5.00%, 06/15/23 (c)		1,500			1,507,851
New Jersey Transportation Trust Fund Authority, Series D (RB) 5.00%, 12/15/24 (c)		1,720			1,733,787
New Jersey Turnpike Authority, Series A (RB)
4.00%, 01/01/27 (c)		135			131,453
5.00%, 01/01/27 (c)		270			281,673
5.00%, 01/01/27 (c)		1,625			1,710,104
5.00%, 07/01/24 (c)		4,000			4,082,024
New Jersey Turnpike Authority, Series E (RB)
5.00%, 01/01/28 (c)		200			210,950
5.00%, 01/01/28 (c)		115			122,466
New Jersey Turnpike Authority, Series G (RB) 5.00%, 01/01/28 (c)		1,000			1,043,954
New Jersey Turnpike Authority, Series G (RB) (AGM) 4.00%, 01/01/28 (c)		2,130			2,116,868
State of New Jersey, Series A (GO) 3.00%, 06/01/32		250			216,613
State of New Jersey, Various Purposes (GO)
2.00%, 12/01/29 (c)		3,000			2,502,519
2.00%, 12/01/29 (c)		3,000			2,225,807

	Par (000’s		)	Value
New Jersey (continued)
2.00%, 12/01/29 (c)	$	3,000		$	2,100,175
5.00%, 12/01/29 (c)		5,000			5,202,533
Tobacco Settlement Financing Corp., Series A (RB)
5.00%, 06/01/28 (c)		2,755			2,812,670
5.00%, 06/01/28 (c)		225			227,413
5.00%, 06/01/28 (c)		195			200,642
5.00%, 06/01/28 (c)		250			254,237
5.00%, 06/01/28 (c)		500			512,366
					65,786,678
New York: 18.5%
City of New York Housing Development Corp., Series G-1 (RB) 3.10%, 11/01/25 (c)		500			439,803
City of New York, Series A (GO)
4.00%, 08/01/26 (c)		485			462,186
4.00%, 08/01/31 (c)		600			547,859
5.00%, 08/01/26 (c)		1,810			1,887,305
5.00%, 08/01/30		415			456,961
City of New York, Series A-1 (GO)
5.00%, 08/01/29		1,000			1,092,534
5.00%, 09/01/32 (c)		2,000			2,121,655
City of New York, Series B-1 (GO)
4.00%, 12/01/26 (c)		250			234,573
5.00%, 10/01/27 (c)		100			103,830
5.00%, 10/01/29 (c)		1,125			1,208,322
5.00%, 10/01/29 (c)		500			543,598
5.00%, 11/01/30		1,000			1,103,177
5.00%, 12/01/26 (c)		395			413,185
5.00%, 08/01/29		2,000			2,185,069
5.25%, 10/01/27 (c)		920			989,268
City of New York, Series C (GO) 5.00%, 02/01/25 (c)		1,165			1,190,728
City of New York, Series C and D (GO) 5.00%, 02/01/26 (c)		110			115,684
City of New York, Series C-1 (GO) (SD CRED PROG) 5.00%, 08/01/30		2,000			2,202,221
City of New York, Series D-1 (GO) (BAM) 5.00%, 03/01/30 (c)		1,565			1,641,562
City of New York, Series E (GO) 5.00%, 08/01/26 (c)		540			563,063
City of New York, Series E-1 (GO)
5.00%, 03/01/28 (c)		1,015			1,070,220
5.25%, 03/01/28 (c)		1,000			1,059,795
5.25%, 03/01/28 (c)		1,500			1,624,808
City of New York, Series F-1 (GO)
5.00%, 04/01/28 (c)		250			259,694
5.00%, 04/01/28 (c)		1,435			1,465,308
City of New York, Series L (GO) 5.00%, 04/01/29 (c)		655			701,482

	Par (000’s		)	Value
New York (continued)
City of New York, Series L-5 (GO) 5.00%, 04/01/31 (c)	$	1,865		$	2,001,034
City of New York, Series L-6 (GO)
5.00%, 04/01/28		175			188,598
5.00%, 04/01/29 (c)		1,000			1,087,085
City of Troy, Capital Resource Corp., Series A (RB)
5.00%, 09/01/30 (c)		500			506,225
5.00%, 09/01/30 (c)		1,795			1,875,341
County of Nassau, Interim Finance Authority, Public Benefit Corp., Series A (RB) 5.00%, 05/15/31 (c)		1,500			1,633,160
County of Nassau, Series C (GO) 5.00%, 10/01/27 (c)		600			635,416
Hudson Yards Infrastructure Corp., Series A (RB)
5.00%, 02/15/27 (c)		1,700			1,778,683
5.00%, 02/15/27 (c)		460			479,443
5.00%, 02/15/27 (c)		1,400			1,470,293
5.00%, 02/15/27 (c)		3,025			3,189,474
Long Island Power Authority, Electric System (RB)
5.00%, 09/01/27 (c)		305			318,952
5.00%, 09/01/27 (c)		750			777,435
5.00%, 09/01/27 (c)		500			520,673
5.00%, 09/01/28 (c)		1,035			1,071,072
Long Island Power Authority, Electric System, Series A (RB) 3.00%, 09/01/28 (c)		450			368,777
Long Island Power Authority, Electric System, Series B (RB)
5.00%, 09/01/26 (c)		40			42,048
5.00%, 09/01/26 (c)		2,000			2,046,218
Metropolitan Transportation Authority, Series A (RB) 4.00%, 11/15/26 (c)		340			309,840
Metropolitan Transportation Authority, Series B (RB)
4.00%, 11/15/26 (c)		215			192,730
5.00%, 11/15/26 (c)		310			314,437
5.00%, 11/15/28		2,380			2,425,868
5.00%, 11/15/28		380			387,518
Metropolitan Transportation Authority, Series B-2 (RB)
5.00%, 11/15/26 (c)		15			15,794
5.00%, 11/15/27 (c)		1,185			1,247,532
5.00%, 11/15/27 (c)		200			212,150
Metropolitan Transportation Authority, Series C-1 (RB)
4.00%, 05/15/28 (c)		1,980			1,839,391
4.00%, 05/15/28 (c)		395			354,086
5.00%, 11/15/26 (c)		155			157,219
5.00%, 05/15/28 (c)		2,540			2,532,258
5.00%, 05/15/28 (c)		1,445			1,451,098
5.00%, 05/15/28 (c)		1,540			1,550,357
5.00%, 05/15/28 (c)		1,260			1,288,676

	Par (000’s		)	Value
New York (continued)
5.00%, 05/15/28 (c)	$	810		$	799,016
5.00%, 05/15/28 (c)		470			479,522
Metropolitan Transportation Authority, Series C-2 (RB) 0.00%, 11/15/33 ^		1,035			603,937
Metropolitan Transportation Authority, Series D (RB)
3.12%, 11/15/26 (c)		265			212,393
4.00%, 11/15/26 (c)		400			371,594
5.00%, 05/15/28 (c)		535			533,369
5.00%, 05/15/28 (c)		1,570			1,572,263
5.00%, 05/15/28 (c)		1,085			1,092,297
Metropolitan Transportation Authority, Series E (RB)
5.00%, 11/15/23 (c)		1,775			1,769,589
5.00%, 11/15/30		1,000			1,009,231
Monroe County, Industrial Development Corp. (RB) 3.00%, 12/01/30 (c)		865			602,566
New York City Housing Development Corp. (RB) (FHA 542(C)) 2.10%, 05/01/29 (c)		2,000			1,404,930
New York City Housing Development Corp., Multi- Family Housing, Series A (RB) (AGC) 2.90%, 04/01/30 (c)		1,000			772,538
New York City Housing Development Corp., Multi- Family Housing, Series A-1 (RB) 3.70%, 11/15/23 (c)		2,000			1,793,049
New York City Housing Development Corp., Multi- Family Housing, Series A-1-C (RB) 2.35%, 05/01/28 (c)		1,100			826,257
New York City Industrial Development Agency (RB) (AGM)
4.00%, 01/01/31 (c)		500			497,185
4.00%, 09/01/30 (c)		1,500			1,494,650
5.00%, 01/01/31		2,700			2,901,679
New York City Industrial Development Agency, Queens Baseball Stadium Project, Series A (RB) (AGM) 2.00%, 01/01/31 (c)		1,250			778,731
New York City Industrial Development Agency, Yankee Stadium Project, Series A (RB) (AGM) 5.00%, 03/01/30		2,145			2,277,281
New York City Municipal Water Finance Authority, Water and Sewer System, Series AA (RB)
5.00%, 12/15/29 (c)		1,000			1,078,974
5.00%, 06/15/27 (c)		960			989,905

	Par (000’s		)	Value
New York (continued)
New York City Municipal Water Finance Authority, Water and Sewer System, Series BB (RB) 5.00%, 06/15/27 (c)	$	310		$	326,200
New York City Municipal Water Finance Authority, Water and Sewer System, Series CC (RB) 5.00%, 12/15/26 (c)		1,000			1,026,046
New York City Municipal Water Finance Authority, Water and Sewer System, Series CC-1 (RB) 5.25%, 12/15/26 (c)		2,000			2,086,118
New York City Municipal Water Finance Authority, Water and Sewer System, Series DD (RB)
5.00%, 06/15/23 (c)		1,000			1,005,920
5.00%, 06/15/23 (c)		4,500			4,529,115
5.00%, 06/15/31		1,865			2,073,845
New York City Municipal Water Finance Authority, Water and Sewer System, Series EE (RB) 5.00%, 06/15/27 (c)		215			224,802
New York City Municipal Water Finance Authority, Water and Sewer System, Series FF-2 (RB) 5.00%, 06/15/29 (c)		500			532,077
New York City Transitional Finance Authority, Building Aid, Series S-1 (RB) (SAW)
3.00%, 07/15/31 (c)		1,400			1,100,788
4.00%, 07/15/31 (c)		1,375			1,307,650
5.00%, 07/15/31 (c)		1,000			1,084,245
New York City Transitional Finance Authority, Building Aid, Series S-2 (RB) (SAW) 5.00%, 07/15/28 (c)		1,010			1,075,816
New York City Transitional Finance Authority, Building Aid, Series S-3 (RB) (SAW)
5.00%, 07/15/28 (c)		1,605			1,686,337
5.00%, 07/15/28 (c)		1,000			1,040,446
New York City Transitional Finance Authority, Building Aid, Series S-4 (RB) (SAW)
5.00%, 07/15/28 (c)		500			525,339
5.00%, 07/15/28 (c)		100			106,516
5.25%, 07/15/28 (c)		415			439,155
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series A (RB)
3.00%, 11/01/30 (c)		2,000			1,593,964
5.00%, 11/01/30 (c)		3,000			3,161,655

	Par (000’s		)	Value
New York (continued)
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series A-1 (RB)
4.00%, 05/01/26 (c)	$	630		$	634,393
5.00%, 11/01/31 (c)		1,000			1,089,361
5.00%, 05/01/26 (c)		280			292,574
5.00%, 05/01/26 (c)		450			464,236
5.00%, 05/01/26 (c)		655			671,638
5.00%, 05/01/26 (c)		880			904,946
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series A-2 (RB) 5.00%, 08/01/27 (c)		2,000			2,051,242
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series B (RB)
5.00%, 11/01/22 (c)		1,000			1,000,000
5.00%, 08/01/24 (c)		260			267,053
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series B-1 (RB)
4.00%, 08/01/27 (c)		115			109,299
4.00%, 08/01/31 (c)		1,190			1,084,477
5.00%, 05/01/27 (c)		1,065			1,113,919
5.00%, 08/01/26 (c)		690			718,000
5.00%, 08/01/26 (c)		895			925,000
5.00%, 08/01/26 (c)		540			560,003
5.00%, 08/01/26 (c)		530			555,280
5.00%, 08/01/27 (c)		125			132,399
5.00%, 08/01/27 (c)		1,000			1,047,937
5.00%, 08/01/27 (c)		350			363,950
5.00%, 08/01/28 (c)		780			814,484
5.00%, 08/01/30 (c)		1,000			1,092,923
5.00%, 08/01/31 (c)		1,000			1,064,263
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series C (RB)
5.00%, 11/01/25 (c)		20			20,949
5.00%, 05/01/27 (c)		2,280			2,398,953
5.00%, 05/01/27 (c)		900			937,583
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series C-1 (RB)
4.00%, 11/01/30 (c)		1,690			1,541,713
5.00%, 11/01/30 (c)		1,400			1,508,731
5.00%, 11/01/30 (c)		4,500			4,712,406
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series E (RB) 3.50%, 05/01/27 (c)		100			90,942

	Par (000’s		)	Value
New York (continued)
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series E-1 (RB)
5.00%, 02/01/25 (c)	$	155		$	158,189
5.00%, 02/01/26 (c)		1,500			1,553,629
5.00%, 02/01/27 (c)		1,190			1,248,990
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series G-1 (RB) 4.00%, 11/01/30		6,000			6,144,882
New York City Trust for Cultural Resources, The Museum of Modern Art, Series 1-E (RB)
4.00%, 10/01/26 (c)		850			864,959
4.00%, 10/01/26 (c)		745			753,890
New York State Dormitory Authority, Columbia University, Series A (RB) (FHA) 5.00%, 10/01/28		115			125,973
New York State Dormitory Authority, Columbia University, Series B (RB) 5.00%, 10/01/27		25			27,012
New York State Dormitory Authority, Cornell University, Series D (RB) 5.00%, 07/01/33		110			123,393
New York State Dormitory Authority, Memorial Sloan-Kettering Cancer Center, Series 1 (RB) 4.00%, 07/01/29 (c)		1,000			923,004
New York State Dormitory Authority, Montefiore Medical Center, Series A (RB)
5.00%, 08/01/28 (c)		1,000			968,251
5.00%, 08/01/28 (c)		1,890			1,814,330
New York State Dormitory Authority, New School University, Series A (RB) 5.00%, 01/01/27 (c)		250			257,072
New York State Dormitory Authority, New York University, Series A (RB)
4.00%, 02/15/27 (c)		1,000			983,579
5.00%, 03/15/24 (c)		2,150			2,185,519
5.00%, 07/01/25 (c)		3,000			3,124,458
5.00%, 07/01/26 (c)		260			273,435
5.00%, 07/01/27 (c)		445			476,270
5.00%, 07/01/27 (c)		200			212,766
5.00%, 07/01/27 (c)		250			266,456
5.00%, 07/01/28 (c)		385			412,204
5.00%, 07/01/29 (c)		370			405,845
New York State Dormitory Authority, New York University, Series A (RB) (AGC) 5.00%, 03/15/28 (c)		1,250			1,294,582

	Par (000’s		)	Value
New York (continued)
New York State Dormitory Authority, School Districts Bond Financing Program, Series A (RB) (SAW)
5.00%, 10/01/26 (c)	$	1,325		$	1,390,218
5.00%, 10/01/26 (c)		1,200			1,254,608
New York State Dormitory Authority, Sloan-Kettering Cancer Center, Series 1 (RB) (AGM) 2.00%, 07/01/29 (c)		850			647,277
New York State Dormitory Authority, State Personal Income Tax, Series A (RB)
3.00%, 09/15/30 (c)		3,120			2,398,243
4.00%, 02/15/27 (c)		475			454,395
4.00%, 03/15/31 (c)		2,795			2,582,715
4.00%, 09/15/30 (c)		1,135			1,059,800
5.00%, 02/15/27 (c)		595			622,779
5.00%, 02/15/27 (c)		1,375			1,453,446
5.00%, 02/15/27 (c)		1,000			1,048,997
5.00%, 03/15/25 (c)		195			200,191
5.00%, 03/15/29		2,085			2,264,162
5.00%, 03/15/29 (c)		3,910			4,109,203
5.00%, 03/15/29 (c)		1,950			2,035,831
5.00%, 03/15/29		100			108,593
5.00%, 03/15/29 (c)		2,370			2,516,139
5.00%, 03/15/30		3,000			3,285,628
5.00%, 03/15/31 (c)		4,000			4,309,484
5.25%, 09/15/28 (c)		1,305			1,381,191
New York State Dormitory Authority, State Personal Income Tax, Series B (RB)
5.00%, 08/15/27 (c)		2,270			2,328,420
5.00%, 08/15/27 (c)		2,000			2,107,557
New York State Dormitory Authority, State Personal Income Tax, Series C (RB) 5.00%, 03/15/24 (c)		385			392,393
New York State Dormitory Authority, State Personal Income Tax, Series D (RB)
5.00%, 02/15/30		1,435			1,570,590
5.00%, 02/15/30 (c)		2,000			2,151,702
5.00%, 08/15/26 (c)		315			333,595
5.00%, 08/15/26 (c)		940			981,188
New York State Dormitory Authority, State Personal Income Tax, Series D (RB) (BAM) 5.00%, 02/15/30 (c)		115			124,255
New York State Dormitory Authority, State Personal Income Tax, Series E (RB)
4.00%, 03/15/32 (c)		2,000			1,867,490
4.00%, 03/15/32 (c)		1,500			1,386,073
5.00%, 08/15/26 (c)		2,000			2,035,975
5.00%, 09/15/25 (c)		3,000			3,114,190

	Par (000’s		)	Value
New York (continued)
New York State Dormitory Authority, State Sales Tax, Series A (RB)
5.00%, 01/01/27 (c)	$	250		$	250,536
5.00%, 03/15/24 (c)		340			346,392
5.00%, 03/15/24 (c)		115			117,131
5.00%, 03/15/27 (c)		515			535,935
5.00%, 03/15/27 (c)		305			317,956
5.00%, 03/15/27 (c)		2,110			2,184,597
5.00%, 03/15/27 (c)		1,000			1,036,307
5.00%, 09/15/26 (c)		60			62,658
5.00%, 09/15/26 (c)		140			146,511
New York State Dormitory Authority, State Sales Tax, Series B (RB) 5.00%, 09/15/25 (c)		170			176,236
New York State Dormitory Authority, State Sales Tax, Series C (RB)
5.00%, 03/15/28 (c)		520			555,075
5.00%, 03/15/28 (c)		1,970			2,068,701
New York State Dormitory Authority, Supported Debt Montefiore, Series A (RB) 5.00%, 08/01/28 (c)		1,000			927,743
New York State Environmental Facilities Corp., Municipal Water Finance Authority Projects, Series A (RB)
5.00%, 06/15/26 (c)		415			436,069
5.00%, 06/15/26 (c)		765			805,968
5.00%, 06/15/27 (c)		405			432,867
5.00%, 06/15/27 (c)		150			157,091
New York State Environmental Facilities Corp., Municipal Water Finance Authority Projects, Series B (RB)
4.00%, 06/15/29 (c)		1,530			1,442,575
5.00%, 06/15/29 (c)		1,250			1,325,032
New York State Environmental Facilities Corp., Municipal Water Finance Authority Projects, Series E (RB)
3.00%, 06/15/27 (c)		495			453,976
5.00%, 06/15/27 (c)		1,000			1,052,502
5.00%, 06/15/27 (c)		500			525,538
New York State Housing Finance Agency, Series H (RB) (AGM) 2.10%, 05/01/29 (c)		895			640,564
New York State Thruway Authority, Series A (RB)
5.00%, 01/01/26 (c)		650			668,023
5.00%, 01/01/26 (c)		600			613,773
New York State Thruway Authority, Series B (RB) (AGM) 4.00%, 01/01/30 (c)		800			733,669

	Par (000’s		)	Value
New York (continued)
New York State Thruway Authority, Series L (RB)
3.50%, 01/01/28 (c)	$	1,120		$	969,763
5.00%, 01/01/28 (c)		1,300			1,370,043
5.00%, 01/01/28 (c)		1,500			1,588,611
New York State Thruway Authority, State Personal Income, Series A-1 (RB)
5.00%, 03/15/31 (c)		800			854,968
5.00%, 03/15/31 (c)		2,000			2,156,223
New York State Urban Development Corp., Series A (RB) 5.00%, 09/15/31 (c)		4,500			4,759,738
New York State Urban Development Corp., State Personal Income, Series A (RB)
5.00%, 03/15/23 (c)		1,800			1,809,716
5.00%, 03/15/27 (c)		325			340,656
5.00%, 03/15/27 (c)		750			792,343
5.00%, 09/15/29		2,000			2,180,119
5.00%, 09/15/30 (c)		1,475			1,554,691
New York State Urban Development Corp., State Personal Income, Series C (RB)
4.00%, 09/15/30 (c)		1,000			972,621
4.00%, 09/15/30 (c)		1,000			935,743
5.00%, 09/15/27 (c)		350			370,953
5.00%, 09/15/27 (c)		4,295			4,521,548
5.00%, 09/15/30 (c)		250			265,610
New York State Urban Development Corp., State Sales Tax, Series A (RB) 5.00%, 09/15/29 (c)		1,000			1,054,328
New York Transportation Development Corp., Terminal 4 John F. Kennedy International Airport Project, Series C (RB)
5.00%, 12/01/30 (c)		1,000			960,411
5.00%, 12/01/30		1,150			1,164,815
5.00%, 12/01/30 (c)		750			729,980
Port Authority of New York and New Jersey, Series 178 (RB) 5.00%, 12/01/23 (c)		2,000			2,027,135
Port Authority of New York and New Jersey, Series 205 (RB)
5.00%, 11/15/27 (c)		840			896,245
5.00%, 11/15/27 (c)		1,000			1,058,577
5.00%, 11/15/27 (c)		2,500			2,622,135
Port Authority of New York and New Jersey, Series 209 (RB) 5.00%, 07/15/28 (c)		500			520,023
Port Authority of New York and New Jersey, Series 211 (RB) 5.00%, 09/01/28 (c)		500			524,800

	Par (000’s		)	Value
New York (continued)
Port Authority of New York and New Jersey, Series 217 (RB) 5.00%, 11/01/29 (c)	$	500		$	520,658
Port Authority of New York and New Jersey, Series 222 (RB)
4.00%, 07/15/30 (c)		2,600			2,447,195
4.00%, 07/15/30 (c)		3,975			3,691,248
5.00%, 07/15/30 (c)		1,000			1,045,161
5.00%, 07/15/30 (c)		1,000			1,062,115
State of New York Mortgage Agency, Series 195 (RB) 3.00%, 04/01/25 (c)		615			551,837
State of New York Mortgage Agency, Series 205 (RB) 3.12%, 10/01/26 (c)		460			407,727
Suffolk County Water Authority (RB) 4.00%, 06/01/25 (c)		10			10,043
Suffolk County, New York Public Improvement, Series C (GO)
4.00%, 09/01/30 (c)		1,000			909,529
5.00%, 09/01/30 (c)		1,500			1,563,257
Triborough Bridge and Tunnel Authority, Series A (RB)
5.00%, 11/15/31 (c)		1,225			1,303,126
5.00%, 05/15/26 (c)		20			20,934
Triborough Bridge and Tunnel Authority, Series B (RB)
5.00%, 11/15/31		1,000			1,103,620
5.00%, 05/15/27 (c)		1,550			1,636,487
5.00%, 05/15/27 (c)		1,000			1,021,678
5.00%, 05/15/27 (c)		1,350			1,431,207
5.00%, 05/15/27 (c)		1,035			1,101,524
5.00%, 05/15/27 (c)		1,255			1,310,745
5.00%, 05/15/27 (c)		1,070			1,124,387
Triborough Bridge and Tunnel Authority, Series C (RB) 5.00%, 11/15/28		500			542,825
TSASC, Inc., Tobacco Settlement Bonds, Series A (RB)
5.00%, 06/01/27 (c)		845			852,503
5.00%, 06/01/27 (c)		500			506,386
5.00%, 06/01/27 (c)		285			293,085
5.00%, 06/01/27 (c)		130			133,961
5.00%, 06/01/27 (c)		1,140			1,157,623
Utility Debt Securitization Authority (RB)
5.00%, 12/15/25 (c)		1,500			1,561,170
5.00%, 12/15/25 (c)		2,830			2,920,924
5.00%, 12/15/27 (c)		2,000			2,094,591
Utility Debt Securitization Authority, Series A (RB)
5.00%, 06/15/26 (c)		610			637,589
5.00%, 06/15/26 (c)		500			517,807
Utility Debt Securitization Authority, Series B (RB) 5.00%, 06/15/26 (c)		1,135			1,194,202

	Par (000’s		)	Value
New York (continued)
Utility Debt Securitization Authority, Series E (RB) 5.00%, 12/15/32 (c)	$	2,000		$	2,204,248
Wetschester County, Local Development Corp., Pace University, Series A (RB) 5.00%, 05/01/24 (c)		1,000			972,729
					305,890,772
North Carolina: 1.5%
Charlotte-Mecklenburg Hospital Authority, Atrium Health Variable Rate Health Care, Series D (RB) 5.00%, 12/01/31 (p)		3,000			3,194,475
County of Mecklenburg, Series A (GO)
4.00%, 04/01/27 (c)		900			916,273
4.00%, 04/01/27 (c)		1,000			1,022,971
County of Mecklenburg, Series B (GO) 2.00%, 12/01/26 (c)		250			211,496
County of Wake (RB)
3.00%, 03/01/31 (c)		1,500			1,265,994
4.00%, 03/01/31 (c)		850			840,624
County of Wake, Series A (RB)
3.12%, 08/01/28 (c)		150			132,081
5.00%, 12/01/26 (c)		500			529,869
North Carolina Charlotte Douglas International Airport, Series A (RB) 4.00%, 07/01/31 (c)		1,000			904,453
North Carolina Municipal Power Agency No. 1, Series A (RB) 5.00%, 01/01/30 (c)		1,000			1,062,304
North Carolina Turnpike Authority, Triangle Expressway System (RB) 5.00%, 01/01/27 (c)		500			502,566
North Carolina Turnpike Authority, Triangle Expressway System (RB) (AGM) 5.00%, 01/01/29 (c)		380			400,120
North Carolina Turnpike Authority, Triangle Expressway System, Series A (RB)
4.00%, 01/01/28 (c)		890			888,583
4.00%, 01/01/28 (c)		360			356,640
4.00%, 01/01/28 (c)		800			780,514
State of North Carolina, Department of State Treasurer, Series B (GO) 2.12%, 06/01/29 (c)		625			454,441
State of North Carolina, Grant Anticipation Revenue Vehicle (RB) 5.00%, 03/01/29 (c)		2,500			2,702,398

	Par (000’s		)	Value
North Carolina (continued)
5.00%, 03/01/31 (c)	$	1,000		$	1,093,926
State of North Carolina, Series A (GO)
3.00%, 06/01/28 (c)		1,000			921,239
3.00%, 06/01/28 (c)		380			339,726
5.00%, 06/01/28 (c)		1,140			1,237,372
5.00%, 06/01/30 (c)		1,100			1,218,940
State of North Carolina, Series A (RB) 5.00%, 05/01/29 (c)		1,000			1,083,161
State of North Carolina, Series B (RB)
3.00%, 05/01/27 (c)		800			732,727
5.00%, 05/01/27 (c)		880			936,915
University of North Carolina at Chapel Hill, Board of Govetnors, Series B (RB) 5.00%, 12/01/31 (c)		1,000			1,088,488
					24,818,296
North Dakota: 0.0%
County of Ward, North Dakota Health Care Facilities, Series C (RB) 5.00%, 06/01/28 (c)		410			366,987
North Dakota Housing Finance Agency, Home Mortgage Finance Program, Series A (RB) 3.55%, 07/01/27 (c)		180			177,432
North Dakota Housing Finance Agency, Home Mortgage Finance Program, Series D (RB) (SAW) 3.55%, 01/01/28 (c)		175			169,992
					714,411
Ohio: 2.4%
Akron Bath Copley Joint Township Hospital District (RB)
4.00%, 11/15/30 (c)		1,000			847,277
4.00%, 11/15/30 (c)		1,000			838,251
American Municipal Power, Inc., Series A (RB) 5.00%, 02/15/29		1,000			1,076,220
Buckeye Tobacco Settlement Financing Authority, Series A-2 (RB)
5.00%, 06/01/30 (c)		500			516,398
5.00%, 06/01/30 (c)		2,000			2,056,416
5.00%, 06/01/30 (c)		3,000			3,072,098
City of Cincinnati, Various Purpose, Series A (GO) 4.00%, 12/01/27 (c)		975			1,003,751
City of Columbus, Series 1 (GO)
4.00%, 10/01/27 (c)		200			203,179
5.00%, 10/01/27 (c)		750			806,834
City of Columbus, Various Purpose, Series A (GO) 5.00%, 04/01/30		1,000			1,099,702

	Par (000’s		)	Value
Ohio (continued)
City of Columbus, Various Purpose, Series B (GO) 5.00%, 04/01/29 (c)	$	1,245		$	1,355,209
County of Allen, Ohio Hospital Facilities, Mercy Health, Series A (RB)
5.00%, 12/01/29		1,250			1,328,089
5.00%, 02/01/28 (c)		1,030			1,077,860
5.00%, 02/01/28 (c)		445			469,043
5.00%, 06/01/30 (c)		1,000			1,063,786
County of Butler (RB)
4.00%, 11/15/27 (c)		400			367,276
5.00%, 11/15/27 (c)		1,805			1,845,231
County of Cuyahoga, Ohio Hospital, The Metrohealth System (RB) 5.00%, 02/15/27 (c)		100			101,814
County of Franklin, Nationwide Children’s Hospital Project, Series A (RB)
5.00%, 11/01/27 (c)		120			126,001
5.00%, 11/01/27 (c)		125			130,546
5.00%, 11/01/27 (c)		145			150,729
County of Scioto, Southern Ohio Medical Center (RB) 3.38%, 02/15/26 (c)		165			140,861
Cuyahoga Community College District (GO)
4.00%, 06/01/26 (c)		350			352,711
4.00%, 06/01/26 (c)		500			502,093
Northeast Ohio Regional Sewer District (RB) 3.00%, 11/15/29 (c)		1,000			830,944
Ohio State University, Multiyear Debt Issuance Program, Series A (RB) 5.00%, 12/01/29		2,225			2,446,060
Ohio Turnpike and Infrastructure Commission, Series A (RB)
5.00%, 02/15/28 (c)		500			534,379
5.00%, 02/15/28 (c)		500			531,473
5.00%, 02/15/28 (c)		1,845			1,976,694
Ohio Water Development Authority, Fresh Water (RB) 5.00%, 12/01/29 (c)		1,200			1,278,172
Ohio Water Development Authority, Water Pollution Control, Series A (RB)
5.00%, 06/01/27 (c)		960			1,021,274
5.00%, 06/01/30 (c)		1,000			1,084,694
5.00%, 06/01/30 (c)		1,970			2,106,128
Ohio Water Development Authority, Water Pollution Control, Series B (RB) 5.00%, 12/01/25 (c)		40			42,030
State of Kent University (RB) 5.00%, 05/01/26 (c)		20			21,039

	Par (000’s		)	Value
Ohio (continued)
State of Ohio Hospital, Cleveland Clinic Health System, Series A (GO) 5.00%, 03/15/24 (c)	$	480		$	489,670
State of Ohio Hospital, Cleveland Clinic Health System, Series A (RB)
4.00%, 01/01/28 (c)		760			728,162
5.00%, 01/01/28 (c)		135			143,421
5.00%, 01/01/28 (c)		140			148,267
5.00%, 01/01/28 (c)		130			136,631
5.00%, 01/01/28 (c)		425			453,005
State of Ohio, Capital Facilities Lease Appropriation Bonds, Series A (RB)
5.00%, 04/01/28 (c)		615			659,517
5.00%, 04/01/28 (c)		805			854,834
5.00%, 04/01/28 (c)		640			684,200
State of Ohio, Common Schools, Series A (GO) 5.00%, 03/15/24 (c)		25			25,483
State of Ohio, Higher Educational Facility, Case Western Reserve University Project (RB) 3.25%, 12/01/25 (c)		165			142,292
State of Ohio, Highway Capital Improvement, Series T (GO) 5.00%, 05/01/27 (c)		1,000			1,056,018
State of Ohio, Infrastructure Project (RB)
5.00%, 12/15/30		200			220,323
5.00%, 12/15/31		1,225			1,355,439
State of Ohio, Major New State Infrastructure Improvement Bonds (RB) 5.00%, 06/15/26 (c)		225			236,345
State of Ohio, Parks and Recreation Improvement, Series A (RB) 5.00%, 12/01/27 (c)		100			106,835
					39,844,704
Oklahoma: 0.2%
Canadian County Educational Facilities Authority, Mustang Public Schools (RB) 3.00%, 09/01/26 (c)		330			308,435
Grand River Dam Authority, Series A (RB)
5.00%, 12/01/26 (c)		515			541,695
5.00%, 12/01/26 (c)		100			105,338
Norman Regional Hospital Authority (RB) 3.25%, 09/01/29 (c)		750			520,521
Oklahoma Capitol Improvement Authority (RB) 4.00%, 07/01/26 (c)		155			154,006

	Par (000’s		)	Value
Oklahoma (continued)
Oklahoma Turnpike Authority, Series C (RB) 5.00%, 01/01/27 (c)	$	565		$	590,454
Oklahoma Turnpike Authority, Series E (RB)
5.00%, 01/01/27 (c)		155			163,928
5.00%, 01/01/27 (c)		300			316,780
					2,701,157
Oregon: 1.1%
Asante Health System, Hospital Facilities Authority of the City of Medford, Asante Projects, Series A (RB) 5.00%, 08/15/30 (c)		720			744,714
Asante Health System, Hospital Facilities Authority of the City of Medford, Asante Projects, Series A (RB) (AGM) 5.00%, 08/15/30 (c)		700			721,749
City of Portland Oregon, Sewer System, Series A (RB) 3.00%, 09/01/30 (c)		2,350			1,889,670
Corvallis School District No. 509J, Series B (GO) (SBG) 5.00%, 06/15/28 (c)		1,285			1,360,209
Deschutes Public Library District (GO) 4.00%, 06/01/31 (c)		2,000			1,940,587
Hillsboro School District No. 1J (GO) (SBG)
5.00%, 06/15/27 (c)		590			616,647
5.00%, 06/15/27 (c)		1,000			1,057,721
Multnomah and Clackamas Counties School District No. 10JT (GO) (SBG)
0.01%, 06/15/27 (c)		1,010			634,184
0.01%, 06/15/27 (c)		1,215			804,195
Multnomah County School District No. 1J, Series B (GO) (SBG) 3.00%, 06/15/30 (c)		1,280			1,135,938
Salem-Keizer School District No. 24J (GO) (SBG)
4.00%, 06/15/28 (c)		740			732,493
4.00%, 06/15/30 (c)		2,000			1,870,372
5.00%, 06/15/28 (c)		545			583,594
Sherwood School District No. 88J, Series B (GO) (SBG) 5.00%, 06/15/27 (c)		125			131,076
State of Oregon Department of Transportation, Highway User Tax, Series A (RB)
5.00%, 11/15/29 (c)		1,650			1,755,368
5.00%, 11/15/30 (c)		1,000			1,066,628
State of Oregon, Higher Education, Series I (GO) 4.00%, 08/01/27 (c)		450			447,192

	Par (000’s		)	Value
Oregon (continued)
State of Oregon, Seismic Project and Article XI-Q, Series F (GO) 5.00%, 05/01/26 (c)	$	10		$	10,547
Tri-County Metropolitan Transportation District of Oregon, Series A (RB) 3.25%, 04/01/28 (c)		570			485,431
					17,988,315
Pennsylvania: 3.8%
Allegheny County Hospital Development Authority, Series A (RB)
5.00%, 04/01/28 (c)		1,120			1,145,731
5.00%, 04/01/28 (c)		1,000			1,033,253
5.00%, 07/15/29 (c)		360			379,316
5.00%, 07/15/29 (c)		810			841,408
Allegheny County, Sanitary Authority Sewer (RB) 5.00%, 12/01/25 (c)		1,000			1,032,369
Allegheny County, Sanitary Authority Sewer (RB) (AGM) 4.00%, 12/01/26 (c)		100			100,314
City of Philadelphia (GO) (AGM) 5.00%, 08/01/27 (c)		380			400,325
City of Philadelphia, Gas Works (RB) 5.00%, 10/01/26 (c)		880			907,747
City of Philadelphia, Gas Works, Series A (RB) (AGM) 5.00%, 08/01/30 (c)		825			853,909
City of Philadelphia, Series A (GO)
5.00%, 08/01/27 (c)		750			787,785
5.00%, 08/01/27 (c)		100			104,177
5.00%, 08/01/27 (c)		750			789,043
City of Philadelphia, Series A (RB) 5.00%, 07/01/29		1,500			1,602,410
City of Philadelphia, Series A (RB) (AGC) 4.00%, 07/01/30 (c)		1,000			911,941
City of Philadelphia, Series B (GO)
5.00%, 08/01/29 (c)		300			317,282
5.00%, 08/01/29 (c)		1,500			1,546,091
5.00%, 08/01/29 (c)		100			104,273
Commonwealth Financing Authority, Series A (RB) 5.00%, 06/01/30 (c)		250			269,399
Commonwealth Financing Authority, Tobacco Master Settlement Payment (RB)
5.00%, 06/01/28 (c)		775			807,468
5.00%, 06/01/28 (c)		415			428,480
5.00%, 06/01/28 (c)		265			275,156
Commonwealth of Pennsylvania (GO) 3.00%, 01/01/27 (c)		510			460,894

	Par (000’s		)	Value
Pennsylvania (continued)
3.00%, 05/01/30 (c)	$	900		$	728,217
3.00%, 09/15/26 (c)		1,055			880,667
4.00%, 01/01/27 (c)		600			604,361
4.00%, 05/15/31 (c)		2,000			1,957,563
4.00%, 09/15/26 (c)		170			160,469
Commonwealth of Pennsylvania (GO) (AGM) 3.00%, 09/15/26 (c)		395			344,927
Commonwealth of Pennsylvania, Second Series (GO) 4.00%, 08/15/25 (c)		1,500			1,419,656
Geisinger Authority Health System, Series C (RB) 5.00%, 04/01/30 (c) (p)		2,000			2,098,368
Montgomery County Higher Education and Health Authority, Thomas Jefferson University, Series A (RB) 5.00%, 09/01/28 (c)		630			651,999
Montour County, Geisinger Health System, Series A-2 (RB) 5.00%, 02/15/27 (c)		1,990			2,043,271
Pennsylvania Economic Development Financing Authority, UPMC (RB)
4.00%, 09/15/26 (c)		100			90,354
5.00%, 09/15/26 (c)		385			398,919
Pennsylvania Economic Development Financing Authority, UPMC, Series A (RB)
3.38%, 11/15/27 (c)		1,000			880,754
4.00%, 11/15/27 (c)		205			188,990
Pennsylvania Higher Educational Facilities Authority, Commonwealth of Pennsylvania (RB) 5.00%, 05/01/26 (c)		125			127,034
Pennsylvania Higher Educational Facilities Authority, Commonwealth of Pennsylvania, Series AT-1 (RB) 4.00%, 06/15/26 (c)		775			754,604
Pennsylvania Higher Educational Facilities Authority, The Trustee of University, Series A (RB)
4.00%, 08/15/26 (c)		1,000			1,015,903
4.00%, 08/15/26 (c)		1,450			1,480,044
Pennsylvania Higher Educational Facilities Authority, University of Pennsylvania Health System, Series A (RB)
3.12%, 08/15/27 (c)		150			132,854
5.00%, 08/15/27 (c)		270			281,376
5.00%, 08/15/27 (c)		275			288,936

	Par (000’s		)	Value
Pennsylvania (continued)
Pennsylvania Housing Finance Agency, Single Family Mortgage, Series 119 (RB) 3.20%, 04/01/25 (c)	$	425		$	384,630
Pennsylvania Housing Finance Agency, Single Family Mortgage, Series 121 (RB) 2.80%, 10/01/25 (c)		700			616,928
Pennsylvania Housing Finance Agency, Single Family Mortgage, Series 122 (RB) 3.65%, 04/01/26 (c)		315			291,086
Pennsylvania Housing Finance Agency, Single Family Mortgage, Series 123B (RB) 3.45%, 10/01/26 (c)		1,620			1,471,466
Pennsylvania Housing Finance Agency, Single Family Mortgage, Series 124-B (RB) 3.20%, 10/01/26 (c)		300			267,687
Pennsylvania State University, Series B (RB) 5.00%, 09/01/26 (c)		20			21,017
Pennsylvania Turnpike Commission (RB)
5.00%, 12/01/24 (c)		1,000			1,028,341
5.00%, 12/01/25 (c)		430			447,778
5.00%, 12/01/26 (c)		110			116,441
5.00%, 12/01/27 (c)		300			311,661
5.00%, 12/01/27 (c)		250			261,084
5.00%, 06/01/31 (c)		700			743,305
Pennsylvania Turnpike Commission, Oil Franchise Tax, Series A (RB) 5.00%, 12/01/26 (c)		1,000			1,048,559
Pennsylvania Turnpike Commission, Oil Franchise Tax, Series B (RB) 5.00%, 12/01/26 (c)		875			923,183
Pennsylvania Turnpike Commission, Series A (RB)
5.00%, 12/01/26 (c)		310			325,902
5.00%, 12/01/26 (c)		750			784,771
5.00%, 12/01/29 (c)		500			530,705
5.00%, 12/01/29 (c)		1,000			1,036,355
5.00%, 12/01/32 (c)		1,000			1,073,189
Pennsylvania Turnpike Commission, Series A-2 (RB)
5.00%, 12/01/27 (c)		100			106,406
5.00%, 12/01/27 (c)		175			185,069
Pennsylvania Turnpike Commission, Series B (RB) 5.00%, 06/01/26 (c)		2,650			2,675,089
Pennsylvania Turnpike Commission, Series B (RB) (AGM) 5.00%, 06/01/27 (c)		510			527,274

	Par (000’s		)	Value
Pennsylvania (continued)
Pennsylvania Turnpike Commission, Series B-2 (RB) 5.00%, 06/01/27 (c)	$	205		$	213,485
Philadelphia Authority for Industrial Development, Children’s Hospital of Philadelphia Project (RB) 4.00%, 07/01/27 (c)		110			104,650
Philadelphia Gas Works Co., Fourteenth Series (RB)
5.00%, 10/01/26 (c)		735			756,034
5.00%, 10/01/26 (c)		970			995,293
5.00%, 10/01/26 (c)		680			695,762
Pittsburgh Water and Sewer Authority, Series B (RB) (AGM)
5.00%, 09/01/31		1,460			1,598,420
5.00%, 09/01/32		2,000			2,197,348
5.00%, 09/01/33		2,000			2,182,558
School District of Philadelphia, Series A (GO) (SAW)
5.00%, 09/01/28 (c)		450			474,865
5.00%, 09/01/28 (c)		660			682,359
5.00%, 09/01/28 (c)		250			264,450
School District of Philadelphia, Series F (GO) (SAW) 5.00%, 09/01/26 (c)		485			501,570
School District of the City of Erie (GO) (AGM) 5.00%, 04/01/29 (c)		220			232,697
Southeastern Pennsylvania Transportation Authority (RB) 5.00%, 06/01/27 (c)		845			887,704
Sports & Exhibition Authority, Regional Asset District Sales Tax (RB) (AGM) 5.00%, 08/01/29 (c)		1,000			1,066,739
State Public School Building Authority, School District of Philadelphia Project, Series A (RB) (AGM)
5.00%, 12/01/26 (c)		1,750			1,799,210
5.00%, 12/01/26 (c)		260			266,039
Westmoreland County Municipal Authority (RB) (BAM) 5.00%, 08/15/25 (c)		765			795,600
					62,520,746
Rhode Island: 0.3%
Rhode Island Commerce Corp., Department of Transportation, Series B (RB) 5.00%, 06/15/26 (c)		380			399,557
Rhode Island Health and Educational Building Corp., Pooled Issue, Series A (RB) 5.00%, 05/15/26 (c)		110			115,659

	Par (000’s		)	Value
Rhode Island (continued)
Rhode Island Housing and Mortgage Finance Corp., Series 73-A (RB) (AGM) 2.10%, 10/01/29 (c)	$	1,000		$	752,845
Rhode Island Housing and Mortgage Finance Corp., Series 75-A (RB) 2.05%, 04/01/30 (c)		1,000			731,780
State of Rhode Island and Providence Plantations, Series A (GO) 3.00%, 04/01/28 (c)		345			307,577
State of Rhode Island and Providence Plantations, Series B (GO) 5.00%, 08/01/27 (c)		250			265,546
State of Rhode Island, Capital Development Loan, Series A (GO) 5.00%, 08/01/32 (c)		2,000			2,150,878
					4,723,842
South Carolina: 0.5%
Lancaster County School District (GO) 3.25%, 03/01/27 (c)		325			297,007
Lexington County Health Services District, Inc. (RB) (AGM) 5.00%, 11/01/27 (c)		100			104,145
Piedmont Municipal Power Agency, Series B (RB) 5.00%, 01/01/31 (c)		1,000			1,063,953
South Carolina Transportation Infrastructure Bank, Series A (RB) 5.00%, 10/01/28 (c)		100			105,419
South Carolina Transportation Infrastructure Bank, Series B (RB) 5.00%, 10/01/29		1,270			1,371,226
South Carolina, Public Service Authority, Series A (RB) 5.00%, 06/01/26 (c)		1,500			1,486,417
South Carolina, Public Service Authority, Series A (RB) (SAW) 5.00%, 12/01/30 (c)		3,000			3,104,078
					7,532,245
South Dakota: 0.0%
South Dakota Health and Educational Facilities Authority (RB)
5.00%, 09/01/27 (c)		255			263,464
5.00%, 09/01/27 (c)		100			102,846
South Dakota Housing Development Authority (RB) 3.70%, 11/01/26 (c)		25			23,899
					390,209

	Par (000’s		)	Value
Tennessee: 0.8%
Greeneville Health and Educational Facilities Board, Ballad Health, Series A (RB)
5.00%, 07/01/23 (c)	$	550		$	551,028
5.00%, 07/01/23 (c)		810			810,202
5.00%, 07/01/23 (c)		915			915,879
5.00%, 07/01/28 (c)		525			538,793
Memphis-Shelby County Industrial Development Board (RB) 5.00%, 11/01/26 (c)		150			158,560
Metropolitan Government of Nashville and Davidson County (GO)
4.00%, 07/01/26 (c)		545			548,652
4.00%, 07/01/26 (c)		580			579,066
4.00%, 07/01/27 (c)		275			272,316
5.00%, 07/01/26 (c)		235			247,002
Metropolitan Government of Nashville and Davidson County, Health and Educational Facilities Board, Vanderbilt University Center, Series A (RB) 5.00%, 07/01/26 (c)		130			130,670
Shelby County, Public Improvement, Series B (GO)
4.00%, 04/01/30 (c)		1,000			975,532
4.00%, 04/01/30 (c)		3,000			2,990,784
4.00%, 04/01/30 (c)		1,000			988,125
Tennessee Energy Acquisition Corp., Commodity Project, Series A (RB) 5.00%, 11/01/31 (c) (p)		4,000			3,899,902
Tennessee Housing Development Agency, Series B (RB) 3.70%, 07/01/26 (c)		75			72,728
					13,679,239
Texas: 8.7%
Aldine Independent School District, Series A (GO)
4.00%, 02/15/27 (c)		910			915,312
4.00%, 02/15/27 (c)		675			677,775
5.00%, 02/15/27 (c)		700			744,518
Arlington Independent School District (GO)
4.00%, 02/15/29 (c)		500			491,778
4.00%, 02/15/29 (c)		1,000			996,517
Austin Independent School District (GO) 4.00%, 08/01/26 (c)		100			101,060
Bexar County Hospital District (GO)
4.00%, 02/15/26 (c)		115			115,389
4.00%, 02/15/26 (c)		250			236,360
5.00%, 02/15/26 (c)		1,315			1,374,509

	Par (000’s		)	Value
Texas (continued)
Board of Regents of the University of Texas System, Series A (RB) 5.00%, 08/15/30	$	2,500		$	2,762,533
Board of Regents of the University of Texas System, Series A (RB) (AGM) 5.00%, 08/15/29 (c)		850			921,240
Board of Regents of the University of Texas System, Series B (RB) 5.00%, 08/15/29		2,040			2,234,816
Board of Regents of the University of Texas System, Series J (RB) 5.00%, 08/15/26 (c)		25			26,439
Central Texas Regional Mobility Authority, Series B (RB) 5.00%, 01/01/31 (c)		930			978,910
City of Arlington, Senior Lien Special Tax (ST) (AGM)
5.00%, 02/15/25 (c)		305			315,210
5.00%, 02/15/25 (c)		150			155,246
City of Austin, Texas Electric Utility System, Series A (RB) 5.00%, 11/15/30		615			677,220
City of Austin, Water and Wastewater System (RB)
5.00%, 11/15/26 (c)		360			378,583
5.00%, 11/15/26 (c)		995			1,040,789
5.00%, 11/15/27 (c)		235			251,173
City of Dallas, Series A (GO) 3.00%, 02/15/29 (c)		600			493,924
City of Dallas, Series B (GO) 4.00%, 02/15/29 (c)		500			479,911
City of Dallas, Waterworks and Sewer System, Series A (RB)
5.00%, 10/01/26 (c)		565			594,285
5.00%, 10/01/26 (c)		600			629,086
5.00%, 10/01/26 (c)		900			949,341
City of Dallas, Waterworks and Sewer System, Series C (RB)
5.00%, 10/01/30 (c)		1,000			1,075,136
5.00%, 10/01/30 (c)		1,000			1,086,247
City of Denton, Utility System (RB)
5.00%, 12/01/26 (c)		1,000			1,035,949
5.00%, 12/01/26 (c)		965			1,007,769
City of El Paso (GO) 4.00%, 08/15/26 (c)		100			100,259
City of Houston, Airport System, Series B (RB) 5.00%, 07/01/28 (c)		235			247,593
City of Houston, Airport System, Series D (RB)
5.00%, 07/01/28 (c)		1,000			1,023,658
5.00%, 07/01/28 (c)		125			131,096

	Par (000’s		)	Value
Texas (continued)
City of Houston, Combined Utility System, First Lien, Series A (RB) 5.00%, 11/15/30 (c)	$	4,500		$	4,867,254
City of Houston, Combined Utility System, First Lien, Series B (RB) 5.00%, 11/15/26 (c)		105			110,507
City of Houston, Combined Utility System, First Lien, Series C (RB) 4.00%, 11/15/30 (c)		1,500			1,414,985
City of Houston, Combined Utility System, First Lien, Series D (RB)
5.00%, 11/15/28 (c)		750			791,765
5.00%, 11/15/28 (c)		1,000			1,063,549
City of Houston, Public Improvement, Series A (GO)
4.00%, 03/01/27 (c)		2,000			1,859,734
5.00%, 03/01/27 (c)		1,000			1,057,164
5.00%, 03/01/29 (c)		1,215			1,310,508
5.00%, 03/01/29 (c)		1,000			1,069,816
City of Houston, Series A (GO)
5.00%, 03/01/26 (c)		180			187,586
5.00%, 03/01/26 (c)		515			537,588
5.00%, 03/01/27 (c)		500			526,927
5.00%, 03/01/27 (c)		520			546,584
City of Lubbock (GO) 5.00%, 02/15/25 (c)		105			108,704
City of San Antonio (GO) 5.00%, 08/01/28 (c)		205			219,845
City of San Antonio, Electric and Gas Systems (RB)
4.00%, 02/01/30		1,000			1,015,277
5.00%, 02/01/32 (c)		1,000			1,073,843
5.00%, 08/01/26 (c)		125			131,880
5.00%, 08/01/26 (c)		110			115,595
5.00%, 08/01/27 (c)		1,000			1,056,759
City of San Antonio, Electric and Gas Systems, Series B (RB) 4.00%, 02/01/33		1,000			1,001,452
City of San Antonio, General Improvement (GO) 5.00%, 08/01/29 (c)		325			352,159
Collin County, Community College District (GO) 3.25%, 08/15/27 (c)		500			452,670
4.00%, 08/15/27 (c)		925			936,777
Conroe Independent School District (GO) 5.00%, 02/15/28 (c)		100			106,394
Corpus Christi Independent School District (GO) 4.00%, 08/15/28 (c)		320			322,051
County of Bexar (GO) 5.00%, 06/15/26 (c)		290			307,058

	Par (000’s		)	Value
Texas (continued)
County of Dallas, Texas Combination Tax and Parking Garage (GO) 5.00%, 08/15/26 (c)	$	260		$	275,063
County of Denton, Series A (GO) 4.00%, 07/15/28 (c)		750			767,280
County of Fort Bend, Series B (GO)
4.00%, 03/01/26 (c)		500			506,841
5.00%, 03/01/26 (c)		20			20,993
County of Harris, Toll Road, Senior Lien, Series A (RB)
5.00%, 08/15/26 (c)		670			699,598
5.00%, 08/15/26 (c)		675			703,124
5.00%, 08/15/26		115			121,915
5.00%, 08/15/26 (c)		695			729,460
5.00%, 08/15/26 (c)		160			167,471
5.00%, 08/15/26 (c)		190			199,833
5.00%, 08/15/26 (c)		195			205,800
County of Harris, Unlimited Tax Road, Series A (GO)
5.00%, 10/01/25 (c)		2,645			2,761,295
5.00%, 10/01/25 (c)		395			412,702
Cypress-Fairbanks Independent School District (GO)
4.00%, 02/15/30 (c)		1,275			1,201,465
4.00%, 02/15/31 (c)		1,500			1,424,709
Cypress-Fairbanks Independent School District, Series A (GO)
3.00%, 02/15/31 (c)		500			447,386
5.00%, 02/15/29 (c)		1,805			1,952,220
Dallas Area Rapid Transit, Senior Lien (RB) 5.00%, 12/01/29 (c)		1,835			1,980,493
Dallas Independent School District (GO) 4.00%, 02/15/30 (c)		1,000			1,021,503
Eagle Mountain and Saginaw Independent School District (GO)
4.00%, 02/15/26 (c)		335			336,682
4.00%, 08/15/30 (c)		1,150			1,128,387
5.00%, 02/15/26 (c)		10			10,465
El Paso County Hospital District (GO) 4.00%, 08/15/27 (c)		250			220,857
Fort Bend Independent School District (GO)
4.00%, 08/15/27 (c)		635			642,563
5.00%, 08/15/27 (c)		645			689,290
Frisco Independent School District (GO)
4.00%, 02/15/27 (c)		500			503,792
4.00%, 08/15/30 (c)		1,350			1,372,761
4.00%, 08/15/30 (c)		1,345			1,313,670
5.00%, 02/15/29 (c)		2,000			2,123,319

	Par (000’s		)	Value
Texas (continued)
Garland Independent School District (GO) 4.00%, 02/15/25 (c)	$	165		$	166,753
Grand Parkway Transportation Corp., Series A (RB) 5.00%, 04/01/28 (c)		200			213,703
Grapevine-Colleyville Independent School District (GO) 5.00%, 08/15/25 (c)		250			259,125
Harris County, Cultural Education Facilities Finance Corp., TECO Project (RB)
4.00%, 11/15/27 (c)		950			953,046
5.00%, 11/15/27 (c)		850			903,463
5.00%, 11/15/27 (c)		300			318,949
Harris County, Cultural Education Facilities Finance Corp., Texas Children’s Hospital, Series A (RB) 5.00%, 10/01/29		330			354,219
Harris County, Flood Control District, Series A (GO)
5.00%, 10/01/25 (c)		275			287,402
5.00%, 10/01/25 (c)		480			501,240
Harris County, Flood Control District, Series A (RB)
4.00%, 10/01/27 (c)		1,000			947,656
5.00%, 10/01/27 (c)		210			223,313
5.00%, 10/01/27 (c)		250			268,152
Harris County, Flood Control District, Series B (GO) 5.00%, 10/01/25 (c)		400			418,039
Harris County, Toll Road, First Lien (RB) 4.00%, 08/15/30 (c)		1,100			1,029,853
Harris County, Toll Road, Senior Lien, Series A (RB)
5.00%, 02/15/28 (c)		1,170			1,253,397
5.00%, 02/15/28 (c)		260			275,413
Hays Consolidated Independent School District (GO)
4.00%, 02/15/27 (c)		500			502,918
4.00%, 02/15/27 (c)		800			802,661
Houston Independent School District, Limited Tax School House (GO)
5.00%, 02/15/27 (c)		750			795,673
5.00%, 02/15/27 (c)		540			568,255
Houston Independent School District, Maintenance Tax Notes (GO) 5.00%, 07/15/28 (c)		605			648,583
Katy Independent School District, Fort Bend, Harris and Waller Counties, Series D (GO) 5.00%, 02/15/27 (c)		120			127,000

	Par (000’s		)	Value
Texas (continued)
Lone Star College System (GO) 5.00%, 02/15/26 (c)	$	400		$	416,839
Lower Colorado River Authority (RB) (AGM) 5.00%, 05/15/31 (c)		1,000			1,073,086
Lower Colorado River Authority, LCRA Transmission Services Corp. Project (RB)
5.00%, 05/15/26 (c)		275			288,333
5.00%, 05/15/30 (c)		1,250			1,303,644
Metropolitan Transit Authority of Harris County, Series A (RB) 5.00%, 11/01/26 (c)		90			95,271
New Hope Cultural Education Facilities Finance Corp., Children’s Health System, Series A (RB) (AGC) 4.00%, 08/15/27 (c)		250			237,977
New Hope Cultural Education Facilities Finance Corp., Children’s Health System, Series A (RB) (NATL) 5.00%, 08/15/27 (c)		250			263,228
North Harris County Regional Water Authority (RB)
5.00%, 12/15/26 (c)		250			261,835
5.00%, 12/15/26 (c)		205			215,257
North Texas Municipal Water District, Water System (RB)
5.00%, 09/01/26 (c)		45			46,992
5.00%, 09/01/26 (c)		715			740,199
5.00%, 09/01/26 (c)		400			419,457
5.00%, 09/01/26 (c)		500			521,049
North Texas Tollway Authority System, Series B (RB)
4.00%, 01/01/31 (c)		2,000			1,895,614
4.00%, 01/01/31 (c)		2,250			2,063,403
4.00%, 01/01/31 (c)		1,975			1,935,720
North Texas Tollway Authority, First Tier, Series A (RB)
5.00%, 01/01/23 (c)		1,000			1,001,646
5.00%, 01/01/26 (c)		1,195			1,243,385
5.00%, 01/01/26 (c)		980			1,021,839
5.00%, 01/01/26 (c)		295			307,595
5.00%, 01/01/26 (c)		1,675			1,741,850
5.00%, 01/01/26 (c)		500			516,817
5.00%, 01/01/26 (c)		425			441,950
North Texas Tollway Authority, Second Tier, Series B (RB)
5.00%, 01/01/24 (c)		1,325			1,342,699
5.00%, 01/01/24 (c)		3,500			3,548,712
5.00%, 01/01/26 (c)		875			909,167
5.00%, 01/01/27 (c)		1,000			1,010,990
North Texas Tollway Authority, Second Tier, Series B (RB) (AGM) 4.00%, 01/01/27 (c)		450			440,264

	Par (000’s		)	Value
Texas (continued)
Northside Independent School District (GO) 5.00%, 08/15/27 (c)	$	880		$	935,450
Northwest Independent School District, Series A (GO) 4.00%, 08/15/28 (c)		545			530,090
Port of Houston Authority of Harris County, Series A-2 (GO)
5.00%, 10/01/30 (c)		740			807,446
5.00%, 10/01/30 (c)		1,000			1,082,418
San Antonio Independent School District, Unlimited Tax School Building (GO)
4.00%, 08/15/28 (c)		500			491,780
5.00%, 08/15/28 (c)		1,025			1,100,616
San Antonio Water System, Junior Lien, Series A (RB)
5.00%, 05/15/28 (c)		500			530,857
5.00%, 05/15/30 (c)		500			545,556
Spring Independent School District (GO) 5.00%, 08/15/25 (c)		45			46,812
State of Texas, Transportation Commission, Highway Improvement (GO)
5.00%, 04/01/26 (c)		70			73,349
5.00%, 04/01/26 (c)		125			131,228
State of Texas, Transportation Commission, Highway Improvement, Series A (GO)
5.00%, 04/01/26 (c)		400			419,929
5.00%, 04/01/26 (c)		500			525,899
State of Texas, Transportation Commission, Mobility Fund, Series A (GO) 5.00%, 10/01/27 (c)		150			158,264
State of Texas, Transportation Commission, Mobility Fund, Series B (GO)
5.00%, 10/01/27 (c)		240			253,222
5.00%, 10/01/27 (c)		465			492,081
Tarrant County Cultural Education Facilities Finance Corp. (RB) 5.00%, 05/15/26 (c)		80			82,996
Texas A&M University, Series D (RB) 4.00%, 05/15/26 (c)		10			10,156
Texas A&M University, Series E (RB) 5.00%, 05/15/27 (c)		100			106,040
Texas Municipal Gas Acquisition & Supply Corp. III (RB)
5.00%, 12/15/29		2,250			2,279,432
5.00%, 12/15/31		1,475			1,483,700
5.00%, 12/15/32		1,000			1,001,068

	Par (000’s		)	Value
Texas (continued)
Texas Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group LLC I-635 Managed Lanes Project, Series A (RB)
4.00%, 12/31/30 (c)	$	1,150		$	1,005,673
4.00%, 12/31/30 (c)		1,390			1,229,405
Texas Private Activity Bond Surface Transportation Corp., NTE Mobility Partners LLC Project, Series A (RB) 4.00%, 12/31/29 (c)		1,000			861,265
Texas State University System, Board of Regents, Series A (RB) 5.00%, 03/15/27 (c)		100			106,261
Texas State University System, Board of Regents, Series A (RB) (FHA) 4.00%, 03/15/29 (c)		650			627,474
Texas Transportation Commission, Central Texas Turnpike System, Series C (RB) 5.00%, 08/15/24 (c)		1,000			1,009,087
Texas Water Development Board (RB)
3.00%, 10/15/30 (c)		500			429,523
3.00%, 10/15/30 (c)		500			413,466
3.00%, 10/15/30 (c)		750			636,121
3.00%, 10/15/30 (c)		950			796,147
4.00%, 10/15/25 (c)		1,000			988,858
4.00%, 10/15/30 (c)		2,000			2,059,306
5.00%, 10/15/26 (c)		600			634,326
5.00%, 08/01/27 (c)		1,000			1,072,814
Texas Water Development Board, Series A (RB)
4.00%, 10/15/25 (c)		45			45,468
4.00%, 10/15/27 (c)		2,000			1,941,530
4.00%, 10/15/27 (c)		400			402,789
4.00%, 04/15/28 (c)		180			176,406
4.00%, 04/15/28 (c)		600			603,390
5.00%, 10/15/27 (c)		200			214,770
5.00%, 10/15/27 (c)		250			269,091
Texas Water Development Board, Series B (RB)
4.00%, 10/15/28 (c)		120			117,130
4.00%, 10/15/28 (c)		1,000			988,858
5.00%, 10/15/28 (c)		3,670			3,958,390
Trinity River Authority, Regional Wastewater System (RB) 5.00%, 08/01/27 (c)		670			714,841
University of Houston, Board of Regents, Series A (RB) 5.00%, 02/15/32 (c)		1,500			1,606,663
University of North Texas, Series A (RB)
5.00%, 04/15/27 (c)		75			79,047
5.00%, 04/15/27 (c)		140			146,080

	Par (000’s		)	Value
Texas (continued)
Via Metropolitan Transit Authority, Sales Tax (RB) 5.00%, 01/15/27 (c)	$	135		$	143,219
					144,224,417
Utah: 0.5%
Central Utah Water Conservancy District (RB) 4.00%, 10/01/27 (c)		395			393,707
Intermountain Power Agency, Utah Power Supply, Series A (RB) 4.00%, 07/01/31 (c)		2,000			1,914,571
State of Utah (GO) 5.00%, 01/01/29 (c)		250			270,280
State of Utah, Series B (GO) 5.00%, 01/01/29 (c)		1,275			1,395,791
University of Utah, Board of Higher Education, Series B (RB) 5.00%, 08/01/32 (c)		2,220			2,384,793
University of Utah, Series A (RB) 5.00%, 08/01/27 (c)		365			388,682
Utah Transit Authority, Subordinated Sales Tax (RB)
0.00%, 06/15/26 (c) ^		130			81,356
3.00%, 06/15/26 (c)		865			828,964
4.00%, 06/15/26 (c)		850			860,097
					8,518,241
Virginia: 1.6%
City of Richmond, Public Utility, Series A (RB) 5.00%, 01/15/26 (c)		1,520			1,598,507
County of Arlington, Public Improvement (GO) 4.00%, 06/15/29 (c)		1,990			1,962,457
County of Fairfax, Public Improvement, Series A (GO) 2.00%, 04/01/31 (c)		375			286,833
County of Fairfax, Public Improvement, Series A (GO) (SAW)
5.00%, 04/01/28 (c)		750			804,821
5.00%, 04/01/29 (c)		1,755			1,898,472
County of Loudoun, Economic Development Authority, Loudon County Public Facilities Project, Series A (RB) 3.00%, 12/01/29 (c)		1,500			1,236,341
Virginia College Building Authority, 21st Century College and Equipment Programs Educational Facilities, Series A (RB)
3.00%, 02/01/31 (c)		2,750			2,240,538
4.00%, 02/01/30 (c)		1,500			1,429,235
5.00%, 02/01/26 (c)		110			115,615
5.00%, 02/01/30 (c)		1,950			2,096,838

	Par (000’s		)	Value
Virginia (continued)
Virginia College Building Authority, 21st Century College and Equipment Programs Educational Facilities, Series C (RB) 3.00%, 02/01/27 (c)	$	110		$	99,377
Virginia College Building Authority, 21st Century College and Equipment Programs Educational Facilities, Series E (RB)
5.00%, 02/01/28 (c)		880			941,171
5.00%, 02/01/28 (c)		120			128,488
5.00%, 02/01/28 (c)		450			480,138
Virginia College Building Authority, Educational Facilities, Public Higher Education Financing Program, Series A (RB)
5.00%, 09/01/26 (c)		30			31,745
5.00%, 09/01/26 (c)		1,000			1,053,767
5.00%, 09/01/26 (c)		20			21,164
Virginia Commonwealth Transportation Board (RB)
4.00%, 05/15/26 (c)		2,000			2,019,815
5.00%, 05/15/26 (c)		100			105,622
5.00%, 05/15/27 (c)		400			426,904
5.00%, 09/15/26 (c)		20			21,175
Virginia Commonwealth Transportation Board, Series A (RB)
4.00%, 11/15/27 (c)		180			176,661
5.00%, 11/15/27 (c)		120			128,140
5.00%, 11/15/27 (c)		800			851,860
Virginia Public Building Authority, Series A (RB)
3.00%, 08/01/26 (c)		695			632,665
3.12%, 08/01/28 (c)		1,050			927,467
4.00%, 08/01/27 (c)		250			254,828
5.00%, 08/01/30 (c)		1,000			1,077,373
5.00%, 08/01/30 (c)		1,000			1,087,571
Virginia Public Building Authority, Series A-2 (RB)
4.00%, 08/01/31 (c)		1,000			969,954
4.00%, 08/01/31 (c)		1,000			984,709
Virginia Public School Authority (RB) (SAW) 5.00%, 08/01/26 (c)		30			31,614
					26,121,865
Washington: 4.0%
Central Puget Sound Regional Transit Authority, Sales Tax and Motor Vehicle Excise Tax, Series S-1 (RB)
5.00%, 11/01/26 (c)		110			116,907
5.00%, 11/01/31 (c)		2,000			2,199,569

	Par (000’s		)	Value
Washington (continued)
City of Seattle, Municipal Light and Power Improvement, Series A (RB)
4.00%, 01/01/28 (c)	$	915		$	902,052
4.00%, 07/01/31 (c)		1,000			948,915
City of Seattle, Water System Improvement (RB) 4.00%, 02/01/27 (c)		115			116,822
County of King (GO) 5.00%, 01/01/29 (c)		750			797,860
County of King (GO) (SAW) 5.00%, 01/01/29 (c)		1,000			1,088,134
County of King, School District No. 210 (GO) (SBG) 4.00%, 12/01/27 (c)		880			884,592
County of King, School District No. 401 (GO) (SBG)
3.12%, 12/01/26 (c)		690			626,938
5.00%, 12/01/26 (c)		700			741,188
County of King, School District No. 405 (GO) (SBG) 5.00%, 12/01/26 (c)		515			546,108
County of King, School District No. 411 (GO) (SBG) 4.00%, 06/01/26 (c)		635			643,106
County of King, School District No. 414 (GO) (SBG) 5.00%, 06/01/27 (c)		835			881,054
County of King, Washington Limited Tax (GO) 4.00%, 07/01/27 (c)		840			857,017
County of King, Washington Sewer Improvement, Series B (RB) 4.00%, 07/01/26 (c)		1,000			994,617
County of Kitsap, School District No. 401 (GO) (SBG) 4.00%, 06/01/26 (c)		15			15,271
Energy Northwest, Colombia Generating Station Electric, Series A (RB)
5.00%, 07/01/26 (c)		185			195,538
5.00%, 07/01/27 (c)		400			423,277
5.00%, 07/01/28 (c)		695			745,580
5.00%, 07/01/30 (c)		1,930			2,094,201
Energy Northwest, Colombia Generating Station Electric, Series A (RB) (AGM)
5.00%, 07/01/29 (c)		1,000			1,058,499
5.00%, 07/01/29 (c)		500			526,605
5.00%, 07/01/30 (c)		1,415			1,508,433
Energy Northwest, Electric Generation Station, Series C (RB) 5.00%, 07/01/28 (c)		1,000			1,062,789
Energy Northwest, Project 3 Electric, Series A (RB)
5.00%, 07/01/26 (c)		130			137,451
5.00%, 07/01/27 (c)		725			775,860

	Par (000’s		)	Value
Washington (continued)
Energy Northwest, Project 3 Electric, Series C (RB) (AGM) 5.00%, 07/01/30 (c)	$	1,000		$	1,071,341
Grant and Douglas Counties School District No. 144-101 (GO) (SBG) 4.00%, 06/01/26 (c)		125			123,751
Kitsap County School District No. 401 (GO) (SBG)
4.00%, 06/01/26 (c)		1,250			1,256,381
4.00%, 06/01/26 (c)		1,000			995,506
Pierce County, School District No. 403 (GO) (SBG)
5.00%, 06/01/29 (c)		200			213,339
5.00%, 06/01/29 (c)		500			539,371
Pierce County, School District No. 416 (GO) (SBG) 4.00%, 06/01/26 (c)		175			177,215
Port of Seattle, Intermediate Lien (RB) 5.00%, 02/01/26 (c)		30			31,156
Puyallup School District No. 3 (GO) (SBG)
5.00%, 06/01/27 (c)		100			106,383
5.00%, 06/01/27 (c)		970			1,019,741
State of Washington, Motor Vehicle Fuel Tax, Series R-A (GO) 5.00%, 08/01/26 (c)		825			868,194
State of Washington, Motor Vehicle Fuel Tax, Series R-A (GO) (SBG) 5.00%, 06/01/30 (c)		1,000			1,096,909
State of Washington, Motor Vehicle Fuel Tax, Series R-B (GO) 5.00%, 08/01/26 (c)		135			142,408
State of Washington, Series A (GO)
5.00%, 08/01/26 (c)		755			791,013
5.00%, 08/01/26 (c)		115			120,075
State of Washington, Series C (GO)
5.00%, 02/01/28 (c)		170			182,914
5.00%, 08/01/27 (c)		880			935,143
State of Washington, Series D (GO)
5.00%, 02/01/27 (c)		100			105,325
5.00%, 08/01/27 (c)		880			937,916
State of Washington, Various Purpose, Series A (GO)
5.00%, 08/01/26 (c)		200			210,975
5.00%, 08/01/26 (c)		245			258,445
5.00%, 08/01/26 (c)		495			520,917
5.00%, 08/01/26 (c)		580			612,664
5.00%, 08/01/27 (c)		500			531,331
5.00%, 08/01/27 (c)		500			526,417

	Par (000’s		)	Value
Washington (continued)
State of Washington, Various Purpose, Series C (GO) 5.00%, 02/01/31 (c)	$	2,175		$	2,342,125
State of Washington, Various Purpose, Series R-A (GO) 5.00%, 08/01/26 (c)		25			26,192
State of Washington, Various Purpose, Series R-B (GO)
5.00%, 01/01/26 (c)		105			110,170
5.00%, 08/01/26 (c)		145			153,375
State of Washington, Various Purpose, Series R-C (GO)
5.00%, 08/01/27 (c)		420			447,641
5.00%, 08/01/27 (c)		880			926,493
5.00%, 08/01/27 (c)		1,000			1,070,333
State of Washington, Various Purpose, Series R-D (GO) 5.00%, 08/01/27 (c)		1,320			1,411,046
Washington Health Care Facilities Authority, Multicare Health System, Series B (RB)
5.00%, 02/15/28 (c)		1,815			1,844,853
5.00%, 02/15/28 (c)		2,000			2,028,935
Washington Health Care Facilities Authority, Providence St. Joseph Health, Series A (RB) 4.00%, 12/01/22 (c)		1,820			1,710,940
Washington Health Care Facilities Authority, Providence St. Joseph Health, Series B (RB)
4.00%, 10/01/30 (p)		1,595			1,532,541
5.00%, 10/01/28 (c)		225			232,417
5.00%, 10/01/28 (c)		250			264,861
Washington Health Care Facilities Authority, Providence St. Joseph Health, Series B (RB) (ACA) 5.00%, 10/01/28		645			687,214
Washington Health Care Facilities Authority, Virginia Mason Medical Center (RB) 5.00%, 08/15/27 (c)		760			766,310
Washington State Housing Finance Commission, Series A (RB) 3.50%, 12/20/35		1,695			1,433,223
Washington State, Motor Vehicle Fuel Tax, Series A (GO) 5.00%, 06/01/30 (c)		1,050			1,122,410
Washington State, Motor Vehicle Fuel Tax, Series C (GO) 5.00%, 02/01/25 (c)		2,000			2,057,186

	Par (000’s		)	Value
Washington (continued)
Washington State, Motor Vehicle Fuel Tax, Series D (GO) 4.00%, 07/01/23 (c)	$	2,000		$	2,008,541
Washington State, Shoreline School District No. 412 (GO) (SBG) 4.00%, 12/01/28 (c)		1,000			956,028
Washington State, Various Purpose, Series A (GO)
5.00%, 02/01/29		1,000			1,090,431
5.00%, 08/01/30 (c)		1,000			1,064,004
5.00%, 08/01/31 (c)		1,500			1,606,383
5.00%, 08/01/31 (c)		1,250			1,342,729
Washington State, Various Purpose, Series C (GO)
5.00%, 02/01/28 (c)		1,000			1,051,655
5.00%, 02/01/29 (c)		1,080			1,134,571
5.00%, 02/01/30 (c)		1,000			1,066,898
					65,752,718
West Virginia: 0.4%
State of West Virginia, Commissioner of Highways, Surface Transportation Improvements, Series A (RB) 5.00%, 09/01/27 (c)		270			286,713
State of West Virginia, Series A (GO)
5.00%, 06/01/29 (c)		500			527,526
5.00%, 06/01/29 (c)		1,000			1,093,855
State of West Virginia, Series B (GO)
5.00%, 06/01/28 (c)		675			723,955
5.00%, 06/01/28 (c)		200			213,475
West Virginia, Parkways Authority, Senior Lien Turnpike Toll (RB)
5.00%, 06/01/31 (c)		1,320			1,417,178
5.00%, 06/01/31 (c)		1,500			1,613,597
					5,876,299
Wisconsin: 1.1%
City of Madison, Series A (GO) 2.00%, 10/01/27 (c)		1,000			860,809
City of Milwaukee, Series N4 (GO)
5.00%, 04/01/26		200			208,718
5.00%, 04/01/27		100			105,384
Middleton-Cross Plains Area School District, Series A (GO) 3.25%, 03/01/27 (c)		350			312,610
Public Finance Authority, KU Campus Development Corp., Central District Development Project (RB) 5.00%, 03/01/26 (c)		165			170,461

	Par (000’s		)	Value
Wisconsin (continued)
Public Finance Authority, Polution Control, Duke Energy Progress Project, Series A (RB) 3.70%, 10/01/30 (p)	$	1,065		$	1,017,981
Public Finance Authority, Providence St. Joseph Health, Series C (RB) 4.00%, 10/01/30 (p)		2,335			2,243,563
State of Wisconsin (GO)
5.00%, 11/01/26		315			335,631
5.00%, 05/01/26 (c)		150			157,895
5.00%, 05/01/27 (c)		500			529,952
5.00%, 05/01/27 (c)		450			478,801
5.00%, 05/01/27 (c)		250			267,038
5.00%, 05/01/27 (c)		295			315,335
5.00%, 05/01/27 (c)		460			489,441
State of Wisconsin, Series A (GO)
4.00%, 05/01/26 (c)		100			100,129
4.00%, 05/01/28 (c)		1,655			1,595,792
5.00%, 05/01/25 (c)		930			955,803
5.00%, 05/01/25 (c)		890			913,413
State of Wisconsin, Series D (GO) 4.00%, 05/01/24 (c)		500			504,594
Sun Prairie Area School District (GO) 4.00%, 03/01/25 (c)		500			504,645
Wisconsin Department of Transportation (RB) 5.00%, 07/01/27 (c)		115			122,796

	Par (000’s		)	Value
Wisconsin (continued)
5.00%, 07/01/27 (c)	$	480		$	508,624
Wisconsin Department of Transportation, Series A (RB)
5.00%, 07/01/24 (c)		940			960,854
5.00%, 07/01/24 (c)		510			521,646
Wisconsin Health and Educational Facilities Authority, Advocate Aurora Health Credit Group, Series A (RB) 5.00%, 08/15/28 (c)		1,020			1,092,788
Wisconsin Health and Educational Facilities Authority, Ascension Senior Credit Group, Series A (RB)
4.00%, 05/15/26 (c)		1,500			1,390,836
4.00%, 05/15/26 (c)		1,000			966,519
5.00%, 05/15/26 (c)		35			36,545
5.00%, 05/15/26 (c)		100			103,979
Wisconsin Health and Educational Facilities Authority, Children’s Hospital of Wisconsin, Inc. (RB) 4.00%, 08/15/27 (c)		500			483,019
Wisconsin Health and Educational Facilities Authority, Froedtert Health, Inc., Series A (RB) 5.00%, 04/01/27 (c)		125			129,388
					18,384,989
Total Municipal Bonds: 98.5% (Cost: $1,821,932,895)					1,624,141,100
Other assets less liabilities: 1.5%					24,925,638
NET ASSETS: 100.0%				$	1,649,066,738

The summary of inputs used to value the Fund’s investments as of October 31, 2022 is as follows:

	Par (000’s		)	Value
MUNICIPAL BONDS: 98.3%
Alabama: 0.3%
Tuscaloosa City Board of Education, Alabama School Tax (RB) 4.00%, 08/01/26 (c)	$	210		$	187,029
UAB Medicine Finance Authority, Series B (RB) 5.00%, 09/01/26 (c)		220			221,030
UAB Medicine Finance Authority, Series B2 (RB) 4.00%, 03/01/27 (c)		280			237,937
					645,996
Arizona: 1.7%
City of Phoenix Civic Improvement Corp., Series A (RB) 5.00%, 07/01/29 (c)		1,000			978,703
City of Phoenix Civic Improvement Corp., Series D (RB) 4.00%, 07/01/27 (c)		215			187,650
City of Phoenix Civic Improvement Corp., Subordinated Excise Tax, Series A (RB) 4.00%, 07/01/30 (c)		325			286,869
City of Phoenix Civic Improvement Corp., Water System, Series A (RB) 5.00%, 07/01/30 (c)		750			781,340
Glendale, Industrial Development Authority, Sun Health Services, Series A (RB) 5.00%, 11/15/26 (c)		625			602,404
Pima County, Industrial Development Authority, Tucson Medical Center, Series A (RB) 4.00%, 04/01/31 (c)		750			602,246
					3,439,212
Arkansas: 0.0%
City of Rogers, Sales and Use Tax, Series B (RB) 3.25%, 11/01/26 (c)		50			49,178
California: 13.3%
Abag Finance Authority for Nonprofit Corp., Sharp Healthcare, Series A (RB) 5.00%, 08/01/23 (c)		500			501,926
Airport Commission of the City and County of San Francisco, San Francisco International Airport, Second Series, Series E (RB) 5.00%, 05/01/28 (c)		995			985,317

	Par (000’s		)	Value
California (continued)
Airport Commission of the City and County of San Francisco, San Francisco International Airport, Second Series, Series F (RB) 5.00%, 05/01/29 (c)	$	1,000		$	985,885
California County Tobacco Securitization Agency, Series A (RB) 4.00%, 06/01/30 (c)		1,350			1,048,443
California Health Facilities Financing Authority, City of Hope (RB) 5.00%, 11/15/26 (c)		750			717,101
California Health Facilities Financing Authority, Commonspririt Health, Series A (RB) 4.00%, 04/01/30 (c)		1,000			801,726
California Health Facilities Financing Authority, Pin Health, Series A (RB) 4.00%, 06/01/30 (c)		750			619,412
California Health Facilities Financing Authority, Providence St. Joseph Health, Series A (RB) 3.00%, 10/01/26 (c)		680			474,188
California Health Facilities Financing Authority, Series A (RB) 4.00%, 11/15/27 (c)		230			197,950
California Municipal Finance Authority, Eisenhower Medical Center, Series A (RB) 4.00%, 07/01/27 (c)		160			126,037
California Municipal Finance Authority, Orange County Civic Center Infrastructure Improvement Program - Phase I, Series A (RB) 4.00%, 06/01/27 (c)		200			171,983
California State Educational Facilities Authority, Stanford University, Series V-1 (RB) (BAM) 5.00%, 05/01/49		250			265,334
California State, Department of Veterans Affairs, Home Purchase, Series A (RB) 3.00%, 06/01/29 (c)		425			406,563
California Statewide Communities Development Authority, Adventist Health System, Series A (RB) 5.00%, 03/01/28 (c)		330			320,814

	Par (000’s		)	Value
California (continued)
California Statewide Communities Development Authority, Marin General Hospital, Series A (RB) 4.00%, 08/01/23 (c)	$	200		$	154,643
Chaffey Joint Union High School District, Series C (GO) 5.25%, 02/01/27 (c)		500			518,481
City of Los Angeles Department of Airports (RB) 4.00%, 05/15/30 (c)		750			647,499
City of San Jose, California International Airport, Series B (RB) 5.00%, 03/01/27 (c)		500			499,672
El Dorado Irrigation District (CP) (AGM) 4.00%, 03/01/30 (c)		630			553,306
El Dorado Irrigation District, Series A (CP) (AGM) 4.00%, 03/01/30 (c)		690			594,639
Glendale Community College District, Series A (GO) 4.00%, 08/01/27 (c)		130			117,207
Glendale Community College District, Series B (GO) 3.00%, 08/01/29 (c)		325			218,636
Hayward Area Recreation and Park District, Series A (GO) 4.00%, 08/01/27 (c)		185			163,855
Irvine Unified School District Community Facilities District No. 09-1, Series A (ST) (BAM) 4.00%, 09/01/29 (c)		140			123,282
Los Angeles County Metropolitan Transportation Authority, Series A (RB) (AGM) 5.00%, 07/01/28 (c)		440			456,163
Los Angeles Department of Water and Power, Series A (RB)
5.00%, 01/01/27 (c)		500			510,089
5.00%, 01/01/28 (c)		250			258,464
5.00%, 01/01/29 (c)		775			801,614
5.00%, 07/01/30 (c)		800			840,847
Los Angeles Department of Water and Power, Series C (RB) 5.00%, 07/01/27 (c)		275			284,748
Miracosta Community College District, Series A (GO) 4.00%, 08/01/27 (c)		530			490,074
Public Utilities Commission of the City and County of San Francisco, Water Revenue, Series A (RB) 5.00%, 11/01/30 (c)		325			338,116

	Par (000’s		)	Value
California (continued)
Public Utilities Commission of the City and County of San Francisco, Water Revenue, Series D (RB) 3.00%, 11/01/30 (c)	$	500		$	322,706
Riverside County, Perris Union High School District, Series A (GO) (AGM) 4.00%, 09/01/29 (c)		570			508,248
Sacramento City Unified School District, Series G (GO) (AGM) 4.00%, 08/01/30 (c)		500			429,594
Sacramento County, Sanitation Districts, Finance Authority, Series A (RB) 5.00%, 12/01/30 (c)		450			475,618
Sacramento Municipal Utility District, Series H (RB) 4.00%, 08/15/30 (c)		250			230,513
San Diego County Regional Airport Authority, Series A (RB) 5.00%, 07/01/29 (c)		750			747,784
San Diego Unified School District, Series I (GO)
3.12%, 07/01/27 (c)		240			185,308
4.00%, 07/01/27 (c)		595			524,300
San Francisco Bay Area Rapid Transit District, Series B-1 (GO) 3.00%, 08/01/29 (c)		600			423,833
San Francisco Bay Area Rapid Transit District, Series C-1 (GO) 4.00%, 08/01/29 (c)		610			548,907
San Francisco City & County, International Airport, Series B (RB) 5.00%, 05/01/27 (c)		700			693,459
San Francisco Municipal Transportation Agency (RB) 4.00%, 03/01/27 (c)		150			129,297
San Jose Evergreen Community College District, Series B (GO) 3.00%, 09/01/28 (c)		825			618,100
Santa Clara Unified School District (GO) 4.00%, 07/01/26 (c)		310			273,148
Santa Monica Community College District, Series A (GO) 5.00%, 08/01/28 (c)		250			260,862
Saugus Union School District School Facilities Improvement District No.1, Series C (GO) 2.38%, 08/01/30 (c)		1,000			614,680
State of California, Various Purpose (GO) 3.00%, 10/01/29 (c)		500			348,601

	Par (000’s		)	Value
California (continued)
3.00%, 12/01/30 (c)	$	400		$	296,742
3.62%, 04/01/26 (c)		645			517,965
4.00%, 10/01/29 (c)		110			104,158
5.00%, 10/01/28 (c)		935			964,467
5.00%, 11/01/27 (c)		515			529,261
Trustees of the California State University, Series A (RB) 5.00%, 05/01/27 (c)		335			342,476
University of California, Series BE (RB) 4.00%, 05/15/30 (c)		1,000			942,676
University of California, Series O (RB) 5.00%, 05/15/28 (c)		1,000			1,021,585
West Valley-Mission Community College District, Series A (GO) 4.00%, 08/01/29 (c)		250			229,441
					27,477,743
Colorado: 2.5%
Board of Governors of Colorado State University System (RB) 4.00%, 03/01/28 (c)		550			479,000
Boulder Valley School District No. Re-2 Boulder (GO) (SAW) 5.00%, 06/01/25 (c)		500			511,071
City and County of Denver, Board of Water Commissioners, Series B (RB) 4.00%, 09/15/27 (c)		230			209,039
City and County of Denver, Series A (CP) 4.00%, 06/01/26 (c)		285			245,164
City of Loveland, Electric and Communications Enterprise, Series A (RB) 5.00%, 12/01/28 (c)		750			776,504
Colorado Educational and Cultural Facilities Authority, University of Denver Project, Series A (RB) 5.00%, 03/01/27 (c)		155			159,232
Colorado Health Facilities Authority, Adventist Health System Series A (RB) 4.00%, 05/15/28 (c)		320			262,660
Colorado Health Facilities Authority, CommonSpirit Health, Series A-2 (RB) 3.25%, 08/01/29 (c)		500			320,538
Colorado Health Facilities Authority, Sanford, Series A (RB) 5.00%, 11/01/29 (c)		500			474,926
Colorado High Performance Transportation Enterprise, C-470 Express Lanes (RB) 5.00%, 12/31/24 (c)		250			236,043

	Par (000’s		)	Value
Colorado (continued)
5.00%, 12/31/24 (c)	$	250		$	233,726
Denver Health and Hospital Authority, Series A (RB) 4.00%, 12/01/29 (c)		160			127,877
Regional Transportation District, Fastracks Project, Series B (RB) 2.00%, 05/01/31 (c)		850			509,262
Weld County School District No. 6 (GO) (SAW) 4.00%, 06/01/31 (c)		800			703,092
					5,248,134
Connecticut: 0.6%
Connecticut Housing Finance Authority, Series C-1 (RB) 3.50%, 11/15/24 (c)		5			4,955
Connecticut State Health and Educational Facilities Authority, Sacred Heart University Issue, Series K (RB) 4.00%, 07/01/30 (c)		300			248,160
Connecticut State Health and Educational Facilities Authority, Trinity Health Credit Group (RB) 5.00%, 06/01/26 (c)		750			732,150
University of Connecticut, Series A (RB) 5.00%, 02/15/30 (c)		250			258,105
					1,243,370
Delaware: 0.2%
County of New Castle (GO) 4.00%, 04/01/27 (c)		150			134,779
Delaware State Health Facilities Authority, Bayhealth Medical Center Project, Series A (RB) 4.00%, 07/01/27 (c)		115			98,886
Delaware State Health Facilities Authority, Christiana Care Health System, Series A (RB) 4.00%, 10/01/29 (c)		280			235,903
					469,568
District of Columbia: 2.0%
District of Columbia, Income Tax, Series A (RB) 5.00%, 09/01/29 (c)		750			777,509
District of Columbia, Series A (GO)
4.00%, 04/15/29 (c)		500			455,489
4.00%, 04/15/29 (c)		100			96,360
District of Columbia, Series A (RB)
2.62%, 03/01/30 (c)		575			371,998
3.00%, 03/01/30 (c)		275			201,007
District of Columbia, Water and Sewer Authority, Public Utility, Senior Lien, Series B (RB) 5.00%, 04/01/28 (c)		750			777,237

	Par (000’s		)	Value
District of Columbia (continued)
Metropolitan Washington Airports Authority, Dulles Toll Road, Dulles Metrorail and Capital Improvements Projects, Series A (RB) (AGM) 4.00%, 10/01/31 (c)	$	1,000		$	819,983
Washington Metropolitan Area Transit Authority, Series A (RB) 3.00%, 07/15/31 (c)		750			542,733
					4,042,316
Florida: 4.9%
Central Florida Expressway Authority (RB) (BAM) 4.00%, 07/01/27 (c)		345			298,360
City of Jacksonville, Health Care Facililities, Brooks Rehabilitation (RB) 5.00%, 11/01/29 (c)		500			482,766
City of Jacksonville, Series A (RB) 5.25%, 10/01/27 (c)		250			260,331
City of Port St. Lucie, Southwest Annexation Special Assessment District No. 1 (SA) 3.25%, 07/01/26 (c)		200			147,211
City of Port St. Lucie, Southwest Annexation Special Assessment District No. 1 (SA) (BAM) 3.00%, 07/01/26 (c)		180			134,383
City of South Miami, Health Facilities Authority, Inc., Baptist Health (RB)
5.00%, 08/15/27 (c)		275			265,988
5.00%, 08/15/27 (c)		255			251,365
City of Tampa, Central and Lower Basin Stormwater Improvements (SA) 5.25%, 05/01/28 (c)		275			291,098
City of Tampa, Florida Water & Wastewater System, Series A (RB) (BAM-TCRS) 5.00%, 10/01/32 (c)		500			528,115
County of Broward, Florida Port Facilities, Series A (RB) 5.00%, 09/01/29 (c)		500			485,075
County of Broward, Florida Tourist Development, Convention Center Expansion Project (RB)
4.00%, 09/01/31 (c)		510			427,477
4.00%, 09/01/31 (c)		1,000			847,571
County of Broward, Half-Cent Sales Tax (RB) 4.00%, 10/01/30 (c)		275			247,687

	Par (000’s		)	Value
Florida (continued)
County of Miami-Dade, Water and Sewer System, Series A (RB) 4.00%, 10/01/27 (c)	$	210		$	177,917
County of Miami-Dade, Water and Sewer System, Series B (RB)
3.00%, 10/01/29 (c)		310			208,548
3.12%, 10/01/27 (c)		140			109,281
County of Palm Beach, Health Facilities Authority, Lifespace Communities, Inc., Series B (RB) 4.00%, 11/15/26 (c)		330			216,640
Florida Department of Management Services, Series A (CP) 2.00%, 11/01/31 (c)		500			310,481
Florida Development Finance Corp. Healthcare Facilities, Jacksonville Project, Series A (RB) (AGM) 4.00%, 02/01/32 (c)		1,000			868,602
Florida Housing Finance Corp., Homeowner Mortgage, Series 1 (RB) 3.20%, 07/01/28 (c)		45			43,173
Greater Orlando Aviation Authority, Airport Facilities, Series B (RB) 5.00%, 10/01/26 (c)		125			126,300
Hillsborough County, Florida Capital Improvement Non-Ad Valorem (RB) 2.25%, 02/01/31 (c)		500			273,338
Miami-Dade County Health Facilities Authority Hospital, Nicklaus Children’s Hospital Project, Series A (RB) 4.00%, 08/01/31 (c)		500			400,211
Miami-Dade County, Florida Transit System, Sales Surtax, Series A (RB) 4.00%, 07/01/30 (c)		500			432,077
School District of Broward County (GO)
5.00%, 07/01/28 (c)		300			315,013
5.00%, 07/01/31 (c)		665			691,637
South Broward Hospital District, Series A (RB) 3.00%, 05/01/31 (c)		750			515,332
State of Florida, Board of Education, Public Education Capital Outlay, Series C (GO) 3.00%, 06/01/27 (c)		500			382,467
State of Florida, Department of Transportation, Series B (RB) 2.00%, 07/01/30 (c)		500			283,520
					10,021,964

	Par (000’s		)	Value
Georgia: 1.9%
Brookhaven Development Authority, Children’s Healthcare of Atlanta, Inc., Series A (RB) 4.00%, 07/01/29 (c)	$	660		$	579,941
Burke County Development Authority, Series D (RB) 4.12%, 02/01/28 (c)		260			209,378
County of Fulton, Georgia Water and Sewerage, Series A (RB) 2.25%, 01/01/30 (c)		500			314,495
Dahlonega Downtown Development Authority, North Georgia Mac, LLC Projecty (RB) 3.12%, 07/01/23 (c)		90			64,148
Dalton-Whitfield County Joint Development Authority, Hamilton Health Care System (RB) (AGC) 4.00%, 02/15/28 (c)		185			156,524
Georgia Housing and Finance Authority, Single Family Mortgage, Series A (RB) (AGM) 3.35%, 06/01/28 (c)		165			138,958
Georgia Housing and Finance Authority, Single Family Mortgage, Series B-1 (RB)
3.35%, 12/01/25 (c)		230			188,052
3.35%, 12/01/25 (c)		215			178,867
Georgia State Road & Tollway Authority, Managed Lane System, Series A (RB) 3.00%, 07/15/31 (c)		500			342,703
Gwinnett County School District (GO) (SAW) 5.00%, 02/01/29 (c)		335			356,560
Metropolitan Atlanta Rapid Transit Authority Sales Tax, Series A (RB) 3.00%, 07/01/30 (c)		1,000			706,332
Private Colleges & Universities Authority, Emory University, Series B (RB) 4.00%, 09/01/30 (c)		855			770,545
					4,006,503
Hawaii: 0.4%
City and County of Honolulu, Series C (GO)
4.00%, 08/01/29 (c)		750			671,106
5.00%, 08/01/29 (c)		200			209,845
					880,951
Illinois: 4.5%
Chicago O’Hare International Airport, Series B (RB) (AGM) 4.00%, 01/01/29 (c)		890			749,148

	Par (000’s		)	Value
Illinois (continued)
Chicago O’Hare International Airport, Series C (RB) 5.00%, 01/01/27 (c)	$	150		$	150,310
Chicago O’Hare International Airport, Series D (RB)
5.00%, 01/01/27 (c)		150			144,767
5.00%, 01/01/27 (c)		265			259,629
Chicago O’Hare International Airport, Series F (RB) 5.00%, 01/01/27 (c)		250			241,279
City of Chicago, Seires B (GO) 4.00%, 01/01/32 (c)		1,064			852,069
County of Cook, Illinois Sales Tax (RB) 4.00%, 11/15/27 (c)		160			143,056
Illinois Finance Authority, NorthShore University HealthSystem, Series A (RB) 4.00%, 08/15/30 (c)		500			422,846
Illinois Finance Authority, Presence Network, Series C (RB) 4.00%, 02/15/27 (c)		500			433,004
Illinois Finance Authority, Silver Cross Hospital and Medical Center, Series C (RB) 5.00%, 08/15/25 (c)		1,000			969,971
Illinois State Toll Highway Authority, Series A (RB) 5.00%, 01/01/31 (c)		1,000			1,008,097
Sales Tax Securitization Corp., Series C (RB) 5.00%, 01/01/29 (c)		755			753,862
State of Illinois (GO) (AGC) 5.75%, 05/01/30 (c)		750			752,341
State of Illinois, Series A (GO)
4.00%, 03/01/31 (c)		500			408,600
5.00%, 03/01/31 (c)		1,250			1,139,453
5.00%, 05/01/28 (c)		250			234,739
5.00%, 05/01/28 (c)		630			585,032
					9,248,203
Indiana: 0.6%
Indiana Finance Authority, CWA Authority Project (RB) 5.00%, 10/01/31 (c)		300			314,437
Indianapolis Local Public Improvement Bond Bank, Courthouse and Jail Project, Series A (RB) 5.00%, 02/01/29 (c)		1,000			1,017,409
					1,331,846
Iowa: 0.8%
Iowa Finance Authority, Midwestern Disaster Area, Iowa Fertilizer Co. Project, Series A (RB) 5.00%, 12/01/42 (c) (p)		500			445,814

	Par (000’s		)	Value
Iowa (continued)
Iowa Finance Authority, Series A (RB) 5.00%, 08/01/30 (c)	$	530		$	553,934
Iowa Higher Education Loan Authority, Grinnell College Project (RB) 5.00%, 12/01/26 (c)		300			311,053
Iowa Higher Education Loan Authority, Grinnell College Project, Series A (RB) 5.00%, 12/01/26 (c)		250			260,165
					1,570,966
Kentucky: 0.8%
Kentucky Bond Development Corp., Lexington Center Corp. Project (RB) 4.00%, 09/01/28 (c)		920			794,697
Kentucky Economic Development Finance Authority, Louisville Arena Project, Series A (RB) (AGM) 4.00%, 12/01/27 (c)		750			641,118
Louisville and Jefferson County, Metropolitan Sewer District, Series A (RB) 3.25%, 11/15/26 (c)		235			175,316
					1,611,131
Louisiana: 1.0%
City of New Orleans, Louisiana Public Improvement, Series A (GO)
5.00%, 12/01/30 (c)		450			457,984
5.00%, 12/01/30 (c)		320			322,501
City of Shreveport, Louisiana Water & Sewer, Series B (RB) (AGM) 4.00%, 12/01/28 (c)		700			596,642
Louisiana Local Government Environmental Facilities and Community Development Authority, Woman’s Hospital Foundation Project, Series A (RB) 4.00%, 10/01/27 (c)		230			200,450
Louisiana Public Facilities Authority, Ochsner Clinic Foundation Project (RB) 4.00%, 05/15/27 (c)		230			195,883
New Orleans Aviation Board, North Terminal Project, Series A (RB) 5.00%, 01/01/27 (c)		240			232,033
					2,005,493
Maryland: 1.6%
City of Baltimore, Water Projects, Series A (RB) (SAW) 4.00%, 07/01/29 (c)		225			191,601

	Par (000’s		)	Value
Maryland (continued)
County of Baltimore, Metropolitan District (GO) 4.00%, 03/01/28 (c)	$	250		$	229,246
Maryland Community Development Administration, Series A (RB) (AGM) 1.95%, 03/01/30 (c)		310			194,865
Maryland Health and Higher Educational Facilities Authority, Adventist Healthcare, Series B (RB) 4.00%, 01/01/32 (c)		500			382,266
Maryland Health and Higher Educational Facilities Authority, Greater Baltimore Medical Center, Series A (RB) 3.00%, 07/01/31 (c)		500			325,495
Maryland Health and Higher Educational Facilities Authority, Medstar Health Issue, Series A (RB) 4.00%, 05/15/27 (c)		260			211,708
Maryland Health and Higher Educational Facilities Authority, Univeristy of Maryland Medical System Issue, Series D (RB) 4.00%, 01/01/28 (c)		150			121,269
Maryland Stadium Authority Built to Learn (RB) 2.75%, 06/01/31 (c)		850			510,846
Maryland Transportation Authority, Transportation Facilities Projects, Series A (RB) 5.00%, 07/01/31 (c)		1,000			1,037,327
					3,204,623
Massachusetts: 4.0%
Commonwealth of Massachusetts Transportation, Series A (RB)
3.00%, 06/01/30 (c)		800			548,603
5.00%, 06/01/31 (c)		500			525,068
Commonwealth of Massachusetts Transportation, Series B (RB) 5.00%, 06/01/30 (c)		560			583,220
Commonwealth of Massachusetts, Accelerated Bridge Program, Series A (RB) 5.00%, 06/01/28 (c)		315			322,710
Commonwealth of Massachusetts, Series A (GO)
5.00%, 01/01/28 (c)		200			205,273
5.00%, 01/01/28 (c)		1,000			1,025,179
5.00%, 04/01/27 (c)		275			282,156
Commonwealth of Massachusetts, Series B (GO) 2.12%, 04/01/31 (c)		1,300			698,903

	Par (000’s		)	Value
Massachusetts (continued)
Commonwealth of Massachusetts, Series C (GO) 3.00%, 03/01/30 (c)	$	360		$	254,549
Commonwealth of Massachusetts, Series E (GO) 5.00%, 11/01/30 (c)		605			628,936
Massachusetts Bay Transportation Authority Sales Tax, Series A (RB)
4.00%, 07/01/31 (c)		800			670,447
5.00%, 07/01/27 (c)		100			102,194
Massachusetts Development Finance Agency, Northeastern Institute, Series A (RB) 5.00%, 03/01/24 (c)		1,900			1,905,057
Massachusetts Development Finance Agency, The Broad Institute Issue (RB) 4.00%, 10/01/27 (c)		250			229,834
Massachusetts Port Authority, Series B (RB) (SBG) 5.00%, 07/01/29 (c)		305			315,239
					8,297,368
Michigan: 2.3%
Great Lakes Water Authority, Water Supply System, Second Lien, Series B (RB) 5.00%, 07/01/26 (c)		390			396,217
Great Lakes Water Authority, Water Supply System, Senior Lien, Series A (RB) 5.00%, 07/01/26 (c)		570			580,241
Michigan Finance Authority (RB) (BAM) 4.00%, 11/01/30 (c)		500			421,747
Michigan Finance Authority Hospital, Trinity Health Credit Group, Series A (RB) 5.00%, 12/01/27 (c)		500			494,684
Michigan Finance Authority, Henry Ford Health System, Series A (RB)
4.00%, 11/15/26 (c)		225			183,109
4.00%, 11/02/29 (c)		250			196,214
5.00%, 11/02/29 (c)		135			129,895
Michigan State Building Authority (RB) 5.00%, 10/15/25 (c)		500			502,355
Michigan State Housing Development Authority, Series A-1 (RB) 3.35%, 10/01/28 (c)		500			368,690
Michigan State Housing Development Authority, Single-Family Mortgage, Series B (RB) 2.95%, 12/01/28 (c)		425			327,160

	Par (000’s		)	Value
Michigan (continued)
Muskegon Public Schools (GO) 5.00%, 05/01/31 (c)	$	305		$	319,517
Saginaw City School District (GO) 4.00%, 05/01/31 (c)		750			636,128
Wayne County Airport Authority, Series A (RB) 5.00%, 12/01/27 (c)		190			188,216
					4,744,173
Minnesota: 0.9%
City of Minneapolis, Allina Health Care System (RB) 4.00%, 11/15/31 (c)		500			450,028
Minnesota Housing Finance Agency Residential Housing, Series B (RB) 2.50%, 07/01/30 (c)		530			342,780
Minnesota Housing Finance Agency Residential Housing, Series I (RB)
2.15%, 01/01/30 (c)		890			561,968
3.00%, 01/01/30 (c)		465			440,355
					1,795,131
Missouri: 0.2%
Health and Educational Facilities Authority, Saint Louis University, Series A (RB) 5.00%, 04/01/29 (c)		100			102,917
Missouri State Health and Educational Facilities Authority, Lutheran Senior Services Project, Series A (RB) 5.00%, 02/01/24 (c)		250			233,561
Missouri State Housing Development Commission Single Family Mortgage, First Place Homeownership Loan, Series C (RB) 3.05%, 05/01/29 (c)		195			181,709
					518,187
Nebraska: 0.5%
City of Omaha and County of Douglas, Public Building, Series B (GO) 4.00%, 05/01/29 (c)		550			482,344
Omaha Public Power District, Nebraska Electric System, Series A (RB) 4.00%, 08/01/30 (c)		750			636,514
					1,118,858
Nevada: 1.5%
City of Carson, Tahoe Regional Healthcare Project (RB) 5.00%, 09/01/27 (c)		390			376,426
City of Henderson, Utility System, Series A-1 (GO) 4.00%, 06/01/30 (c)		675			583,221

	Par (000’s		)	Value
Nevada (continued)
City of Reno, Retrac Reno Transformation Rail Access Corridor Project, Series A (RB) 5.00%, 12/01/28 (c)	$	1,000		$	1,000,041
County of Clark , Limited Tax, Series A (GO) 5.00%, 06/01/28 (c)		485			494,473
County of Washoe, Nevada Highway, Fuel Tax (RB) 5.00%, 02/01/29 (c)		250			258,723
County of Washoe, School District, Series C (GO) (AGM) 3.12%, 10/01/27 (c)		100			77,729
Las Vegas Convention and Visitors Authority, Series B (RB) (NATL) 5.00%, 07/01/28 (c)		275			278,751
					3,069,364
New Hampshire: 0.5%
National Finance Authority Hospital, St. Lukes University Health Network Project, Series B (RB) (AGM) 3.00%, 08/15/31 (c)		500			339,783
National Finance Authority, Springpoints Living Project (RB) 4.00%, 01/01/26 (c)		500			405,552
New Hampshire Municipal Bond Bank, Series B (RB) 4.00%, 08/15/27 (c)		265			232,356
					977,691
New Jersey: 2.3%
New Jersey Educational Facilities Authority, New Jersey Princeton University, Series C (RB) 2.00%, 03/01/31 (c)		500			330,666
New Jersey Health Care Facilities Financing Authority, Atlanticare Health System (RB) 2.50%, 07/01/31 (c)		490			275,720
New Jersey Health Care Facilities Financing Authority, RWJ Barnabas Health, Series A (RB)
4.00%, 07/01/31 (c)		555			494,905
5.00%, 07/01/26 (c)		55			54,497
New Jersey Transportation Trust Fund Authority, Series AA (RB)
4.50%, 12/15/28 (c)		910			804,603
5.00%, 12/15/30 (c)		250			245,655
5.00%, 12/15/30 (c)		250			238,267
New Jersey Transportation Trust Fund Authority, Series BB (RB) 3.50%, 12/15/28 (c)		365			270,443

	Par (000’s		)	Value
New Jersey (continued)
New Jersey Turnpike Authority, Series A (RB) 4.00%, 01/01/29 (c)	$	1,280		$	1,097,532
New Jersey Turnpike Authority, Series B (RB) 5.00%, 01/01/28 (c)		100			103,155
New Jersey Turnpike Authority, Series G (RB) 4.00%, 01/01/28 (c)		210			186,105
South Jersey Transportation Authority, Transportation System, Series A (RB) 5.00%, 11/01/30 (c)		500			482,283
Tobacco Settlement Financing Corp., Series A (RB) 5.00%, 06/01/28 (c)		205			197,301
					4,781,132
New Mexico: 0.3%
New Mexico Hospital Equipment, Presbyterian Healthcare Services, Series A (RB) 4.00%, 08/01/29 (c)		250			210,489
New Mexico Mortgage Finance Authority, Single Family Mortgage Program Class I, Series C (RB) 3.60%, 07/01/28 (c)		175			163,252
New Mexico Mortgage Finance Authority, Single Family Mortgage Program Class I, Series F (RB) 3.05%, 01/01/29 (c)		295			223,550
					597,291
New York: 21.9%
Battery Park City Authority, Series A (RB) 4.00%, 11/01/29 (c)		1,000			883,567
Broome County Local Development Corp. (RB) (AGM) 4.00%, 04/01/30 (c)		925			810,944
City of New York, Series A-1 (GO) 4.00%, 08/01/31 (c)		1,000			847,794
City of New York, Series C (GO) 5.00%, 08/01/30 (c)		500			513,157
City of New York, Series D-1 (GO)
4.00%, 12/01/28 (c)		470			408,986
5.00%, 12/01/28 (c)		100			102,339
City of New York, Subseries B-1 (GO)
3.00%, 10/01/29 (c)		110			78,803
5.00%, 10/01/29 (c)		250			256,728
City of New York, Subseries D-1 (GO) (BAM) 5.00%, 03/01/30 (c)		1,000			1,025,126

	Par
	(000’s		)	Value
New York (continued)
County of Monroe, Industrial Development Corp., University of Rochester Project, Series A (RB) 4.00%, 07/01/30 (c)	$	900		$	751,520
Dutchess County Local Development Corp., Health Quest System, Inc., Series B (RB) 5.00%, 07/01/26 (c)		255			231,231
Hudson Yards Infrastructure Corp., Series A (RB) 5.00%, 02/15/27 (c)		645			652,268
Jefferson County Civic Facility Development Corp., Samaritan Medical Center Project, Series A (RB) 4.00%, 11/01/27 (c)		330			251,062
Long Island Power Authority, Electric System (RB) 5.00%, 09/01/27 (c)		300			302,321
Metropolitan Transportation Authority, Series A (RB) (AGM) 5.00%, 11/15/28 (c)		715			720,551
Metropolitan Transportation Authority, Series A-1 (RB)
4.00%, 05/15/27 (c)		400			321,921
5.00%, 05/15/25 (c)		590			548,640
Metropolitan Transportation Authority, Series B-1 (RB) 5.00%, 11/15/27 (c)		350			356,347
Metropolitan Transportation Authority, Series C (RB) 5.00%, 11/15/29 (c)		550			527,849
Metropolitan Transportation Authority, Series C (RB) (AGM) 4.00%, 11/15/29 (c)		1,000			832,372
Metropolitan Transportation Authority, Series C-1 (RB) 5.00%, 11/15/26 (c)		690			662,211
Metropolitan Transportation Authority, Series D (RB)
4.00%, 05/15/28 (c)		250			195,568
4.00%, 05/15/28 (c)		1,245			1,012,980
Metropolitan Transportation Authority, Series E (RB) 5.00%, 11/15/23 (c)		600			563,903
New York City Environmental Facilities, Clean Water and Drinking Water, Series B (RB) 4.00%, 06/15/29 (c)		500			433,855
New York City Housing Development Corp., Multi-Family Housing, Series C-1 (RB) 2.25%, 05/01/29 (c)		800			508,424

	Par
	(000’s		)	Value
New York (continued)
New York City Housing Development Corp., Multi-Family Housing, Series E-1 (RB) 3.00%, 03/01/27 (c)	$	500		$	379,472
New York City Housing Development Corp., Multi-Family Housing, Series I-1 (RB) 2.35%, 02/01/29 (c)		525			351,448
New York City Housing Development Corp., Multi-Family Housing, Series J (RB) 3.05%, 09/01/27 (c)		565			362,357
New York City Housing Development Corp., Sustainable Neighborhood Bonds, Series G-1 (RB) 3.75%, 11/01/25 (c)		250			180,767
New York City Municipal Water Finance Authority, Water and Sewer System, Series BB (RB) 5.00%, 12/15/31 (c)		955			984,434
New York City Municipal Water Finance Authority, Water and Sewer System, Series CC (RB) 4.00%, 06/15/24 (c)		500			435,302
New York City Municipal Water Finance Authority, Water and Sewer System, Series EE (RB) 5.00%, 12/15/27 (c)		750			772,444
New York City Transitional Finance Authority Building Aid, Series S-1 (RB) (SAW)
3.00%, 07/15/29 (c)		350			237,963
5.00%, 07/15/28 (c)		500			507,857
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series A-1 (RB) 5.00%, 08/01/28 (c)		260			263,938
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series A-3 (RB) 5.00%, 08/01/27 (c)		510			520,958
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series B-1 (RB) 4.00%, 08/01/27 (c)		400			354,530
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series C-1 (RB)
4.00%, 11/01/30 (c)		500			447,772
4.00%, 11/01/30 (c)		775			701,241
4.00%, 05/01/29 (c)		1,120			991,795
5.00%, 02/01/32 (c)		565			579,173

	Par
	(000’s		)	Value
New York (continued)
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series E-1 (RB) 2.25%, 02/01/31 (c)	$	650		$	347,920
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series F-1 (RB) 5.00%, 05/01/27 (c)		420			425,879
New York City Water and Sewer System, Series AA (RB) 5.00%, 12/15/29 (c)		200			205,280
New York City Water and Sewer System, Series AA-1 (RB) 3.00%, 12/15/30 (c)		350			237,816
New York City Water and Sewer System, Series AA-2 (RB) 3.00%, 12/15/30 (c)		660			496,876
New York City Water and Sewer System, Series BB (RB) 4.00%, 12/15/30 (c)		640			542,490
New York City Water and Sewer System, Series EE (RB) (AGC) 5.00%, 06/15/29 (c)		800			819,844
New York City Water and Sewer System, Series FF (RB) 5.00%, 06/15/28 (c)		250			258,633
New York Convention Center Development Corp., Series A (RB)
0.00%, 11/15/47 ^		230			56,220
0.00%, 11/15/54 ^		170			27,190
New York Liberty Development Corp., 1 World Trade Center Project (RB) 4.00%, 02/15/30 (c)		620			523,959
New York Liberty Development Corp., 4 World Trade Center Project (RB) 3.00%, 11/15/31 (c)		1,500			935,268
New York State Dormitory Authority, Icahn School of Medicine at Mount Sinai, Series A (RB) 5.00%, 03/15/29 (c)		285			291,985
New York State Dormitory Authority, New York Columbia University, Series A (RB) 5.00%, 10/01/47		250			264,459
New York State Dormitory Authority, New York Columbia University, Series A (RB) (FHA) 5.00%, 10/01/48		700			741,188

	Par
	(000’s		)	Value
New York (continued)
New York State Dormitory Authority, New York University, Series A (RB) 5.00%, 07/01/28 (c)	$	400		$	415,944
New York State Dormitory Authority, Personal Income Tax, Series A (RB) 3.00%, 09/15/30 (c)		500			361,883
New York State Dormitory Authority, Personal Income Tax, Series B (RB)
5.00%, 02/15/25 (c)		730			740,473
5.00%, 08/15/27 (c)		800			815,247
New York State Dormitory Authority, Rochester Institute of Technology, Series A (RB) 5.00%, 07/01/29 (c)		250			253,130
New York State Dormitory Authority, St. John’s University, Series A (RB) 4.00%, 07/01/31 (c)		550			454,877
New York State Dormitory Authority, State Sales Tax, Series A (RB)
4.00%, 03/15/27 (c)		250			217,235
4.00%, 03/15/27 (c)		800			686,270
5.00%, 03/15/27 (c)		150			152,806
New York State Dormitory Authority, State Sales Tax, Series E (RB) 5.00%, 09/15/28 (c)		1,165			1,187,565
New York State Dormitory Authority, The New School, Series A (RB)
4.00%, 01/01/27 (c)		475			376,869
5.00%, 01/01/27 (c)		420			398,148
New York State Housing Finance Agency (RB) 2.50%, 05/01/30 (c)		1,250			858,524
New York State Housing Finance Agency, Series D (RB) 3.70%, 05/01/28 (c)		225			178,518
New York State Housing Finance Agency, Series M (RB) 3.75%, 11/01/26 (c)		195			148,133
New York State Power Authority, Series A (RB) 4.00%, 05/15/30 (c)		500			427,991
New York State Thruway Authority, Personal Tax, Series A-1 (RB) 4.00%, 03/15/31 (c)		525			472,378
New York State Thruway Authority, Series B (RB) (AGM) 4.00%, 01/01/30 (c)		500			442,289
New York State Urban Development Corp., Personal Income Tax, Series A (RB) 5.00%, 09/15/28 (c)		500			509,350

	Par
	(000’s		)	Value
New York (continued)
New York State Urban Development Corp., Personal Income Tax, Series C (RB) 3.00%, 09/15/30 (c)	$	550		$	382,717
New York State Urban Development Corp., State Sales Tax, Series A (RB) 3.00%, 09/15/31 (c)		1,000			675,632
New York State, Dormitory Authority, Personal Income Tax, Series D (RB) 5.00%, 02/15/30 (c)		520			529,224
New York State, Dormitory Authority, State Sales Tax, Series A (RB) 5.00%, 03/15/27 (c)		380			389,398
New York Transportation Development Corp., Terminal 4 John Kennedy International Airport Project, Series C (RB) 4.00%, 12/01/30 (c)		925			743,574
State of New York Mortgage Agency Homeowner Mortgage (RB) 3.50%, 04/01/26 (c)		190			148,065
State of New York Mortgage Agency Homeowner Mortgage (RB) (SBG) 2.55%, 10/01/29 (c)		330			195,719
Suffolk Tobacco Asset Securitization Corp., Series B-1 (RB) 4.00%, 06/01/31 (c)		500			449,261
Triborough Bridge and Tunnel Authority, Series A (RB)
5.00%, 11/15/30 (c)		750			759,685
5.00%, 11/15/30 (c)		1,500			1,525,057
Triborough Bridge and Tunnel Authority, Series B (RB) 5.00%, 05/15/28 (c)		980			988,743
Triborough Bridge and Tunnel Authority, Series C (RB) 4.00%, 11/15/31 (c)		750			630,159
Utility Debt Securitization Authority (RB) 5.00%, 12/15/27 (c)		550			574,574
					45,136,363
North Carolina: 1.3%
Charlotte-Mecklenburg Hospital Authority, Atrium HealthCare, Series A (RB) 4.00%, 01/15/32 (c)		600			524,630
North Carolina Housing Finance Agency, Home Ownership, Series B (RB) 4.00%, 07/01/27 (c)		65			62,310

	Par
	(000’s		)	Value
North Carolina (continued)
North Carolina Medical Care Commission, Novant Health, Series A (RB) 3.12%, 11/01/29 (c)	$	220		$	149,249
North Carolina Turnpike Authority, Triangle Expressway System (RB)
5.00%, 01/01/30 (c)		500			471,190
5.00%, 01/01/30 (c)		750			693,633
University of North Carolina, Hospitals at Chapel Hill (RB) 5.00%, 02/01/45		800			818,627
					2,719,639
Ohio: 2.0%
American Municipal Power, Inc., Series A (RB) 5.00%, 02/15/26 (c)		220			222,924
City of Chillicothe, Hospital Facilities, Adena Health System (RB) 4.00%, 12/01/27 (c)		440			374,414
County of Allen, Ohio Hospital Facilities, Mercy Health, Series A (RB) 4.00%, 02/01/28 (c)		510			428,550
County of Franklin, Nationwide Children’s Hospital Project, Series A (RB) 5.00%, 11/01/48		1,000			1,011,647
Euclid City School District, Series A (GO) (SD CRED PROG) 4.00%, 01/15/26 (c)		150			124,973
Hamilton County, Life Enriching Communities Project (RB) 5.00%, 01/01/26 (c)		250			214,723
Northeast Ohio Regional Sewer District, Wastewater Improvement (RB) 3.00%, 11/15/29 (c)		350			267,939
Ohio Housing Finance Agency, Series D (RB) 3.62%, 09/01/26 (c)		80			74,702
Ohio Water Development Authority, Fresh Water (RB) 5.00%, 12/01/29 (c)		500			522,643
State of Ohio, Cleveland Clinic System, Series B (RB) (BAM) 4.00%, 01/01/29 (c)		335			302,273
State of Ohio, Water Pollution Control, Series A (RB) 5.00%, 12/01/31 (c)		500			525,252
					4,070,040
Oklahoma: 0.6%
Edmond Public Works Authority, Sales Tax and Utility System (RB) 4.00%, 07/01/27 (c)		250			218,830

	Par
	(000’s		)	Value
Oklahoma (continued)
Oklahoma Turnpike Authority, Series A (RB)
4.00%, 01/01/26 (c)	$	350		$	314,868
4.00%, 01/01/27 (c)		700			625,160
					1,158,858
Oregon: 1.0%
Multnomah County School District No. 1J, Series B (GO) (SBG)
2.00%, 06/15/30 (c)		550			323,227
3.25%, 06/15/27 (c)		295			229,090
Oregon Health and Science University, Series A (RB) 4.00%, 01/01/32 (c)		1,000			843,046
Tri-County Metropolitan Transportation District of Oregon, Series A (RB) 3.00%, 09/01/29 (c)		935			674,273
					2,069,636
Pennsylvania: 4.5%
Allegheny County, Sanitary Authority Sewer (RB) 5.00%, 06/01/28 (c)		685			705,410
Allegheny County, Series C-77 (GO) 5.00%, 11/01/28 (c)		220			227,696
Chester County Health and Education Facilities Authority, Main Line Health System, Series A (RB)
4.00%, 10/01/27 (c)		180			149,476
4.00%, 09/01/30 (c)		645			528,786
Chester County Health and Education Facilities Authority, Main Line Health System, Series A (RB) (SBG) 4.00%, 09/01/30 (c)		210			182,802
Commonwealth of Pennsylvania, Series A (CP) (FHA) 4.00%, 01/30/28 (c)		1,170			995,835
DuBois Hospital Authority, Penn Highlands Healthcare (RB) 5.00%, 01/15/28 (c)		280			271,500
Geisinger Authority, Health System, Series A (RB) 5.00%, 04/01/30 (c)		1,000			974,332
Montgomery County Higher Education and Health Authority, Presbytery Homes, Inc. Project (RB) 5.00%, 12/01/24 (c)		145			132,436
Pennsylvania Gas Works (RB) 5.00%, 08/01/27 (c)		805			806,386
Pennsylvania Housing Finance Agency, Single Family Mortgage (RB) 2.28%, 10/01/30 (c)		500			329,121

	Par
	(000’s		)	Value
Pennsylvania (continued)
3.20%, 10/01/25 (c)	$	265		$	204,011
3.20%, 10/01/25 (c)		140			110,218
Pennsylvania Housing Finance Agency, Single Family Mortgage, Series B (RB) 3.65%, 04/01/27 (c)		260			210,799
Pennsylvania Turnpike Commission, Motor License (RB) 5.00%, 12/01/27 (c)		155			156,011
Pennsylvania Turnpike Commission, Oil Franchise Tax, Series A (RB) (AGM) 5.00%, 12/01/28 (c)		290			287,135
Pennsylvania Turnpike Commission, Oil Franchise Tax, Series B (RB) 4.00%, 12/01/31 (c)		550			461,970
Pennsylvania Turnpike Commission, Series A (RB) 5.00%, 12/01/29 (c)		220			213,915
Pennsylvania Turnpike Commission, Series A-1 (RB) 5.00%, 12/01/27 (c)		900			890,822
Pennsylvania Turnpike Commission, Series B (RB) 5.00%, 12/01/30 (c)		800			796,973
Pennsylvania Turnpike Commission, Series B-1 (RB) 5.25%, 06/01/27 (c)		700			701,746
					9,337,380
South Carolina: 0.4%
University of South Carolina, Campus Village Project, Series A (RB) 5.00%, 05/01/31 (c)		820			844,529
South Dakota: 0.4%
South Dakota Health and Educational Facilities Authority (RB) 5.00%, 09/01/27 (c)		750			744,638
Tennessee: 0.4%
Sullivan County (GO) 4.00%, 05/01/26 (c)		230			203,111
Tennessee Housing Development Agency, Residential Finance Program (RB)
2.95%, 01/01/29 (c)		345			321,111
3.60%, 01/01/27 (c)		230			222,170
Tennessee Housing Development Agency, Series B (RB) 3.45%, 01/01/27 (c)		185			178,942
					925,334

	Par
	(000’s		)	Value
Texas: 10.1%
Alvin Independent School District (GO) 3.38%, 02/15/28 (c)	$	350		$	285,029
Arlington Higher Education Finance Corp. (RB)
3.00%, 02/15/31 (c)		1,000			679,384
4.00%, 08/15/29 (c)		675			589,555
Board of Regents of the University of Texas System, Series A (RB) 3.00%, 08/15/31 (c)		525			402,815
Board of Regents of the University of Texas System, Series E (RB) 4.00%, 08/15/27 (c)		650			581,944
Central Texas Regional Mobility Authority, Senior Lien, Series E (RB) 5.00%, 01/01/30 (c)		750			721,039
City of Arlington, Senior Lien Special Tax, Series A (ST) (AGM) 4.00%, 02/15/28 (c)		165			140,263
City of Austin, Airport System, Series A (RB) 5.00%, 11/15/26 (c)		280			280,779
City of Austin, Texas Electricity Utility System, Series A (RB)
5.00%, 11/15/29 (c)		1,375			1,402,975
5.00%, 11/15/30 (c)		500			513,044
City of Corpus Christi, Utility System, Series A (RB) (SBG) 4.00%, 07/15/30 (c)		295			255,798
City of Denton (GO) 4.00%, 02/15/27 (c)		120			103,126
City of El Paso (GO) 4.00%, 08/15/29 (c)		950			832,162
City of Houston, Combined Utility System, First Lien, Series D (RB) 5.00%, 11/15/28 (c)		220			227,264
City of Lubbock, Texas Electric Light & Power System (RB) 4.00%, 04/15/30 (c)		650			549,660
City of San Antonio, Texas Electric & Gas Systems, Series A (RB) 5.00%, 02/01/31 (c)		1,000			1,015,377
County of Bexar, Political Subdivision, Limited Tax (GO) 4.00%, 06/15/26 (c)		220			201,527
Crowley Independent School District (GO) 4.00%, 02/01/29 (c)		500			453,458
Cypress-Fairbanks Independent School District, Series A (GO) 2.25%, 02/15/31 (c)		600			371,628

	Par
	(000’s		)	Value
Texas (continued)
Grand Parkway Transportation Corp. System, First Tier Toll, Series C (RB) 4.00%, 04/01/30 (c)	$	770		$	637,189
Grand Parkway Transportation Corp. System, Subordinate Tier Toll, Series A (RB) 5.00%, 04/01/28 (c)		640			653,707
Harris County, Cultural Education Facilities Finance Corp., Texas Children’s Hospital, Series A (RB)
3.00%, 10/01/29 (c)		350			271,340
3.00%, 10/01/31 (c)		1,000			644,407
3.00%, 10/01/31 (c)		1,145			864,007
Harris County, Humble Independent School District (GO) 5.00%, 02/15/32 (c)		1,000			1,042,402
Lamar Consolidated Independent School District (GO) 3.00%, 02/15/31 (c)		290			194,241
Leander Independent School District, Series A (GO)
0.00%, 08/16/26 (c) ^		95			31,694
0.00%, 08/16/26 (c) ^		900			337,085
New Hope Cultural Education Facilities Finance Corp. Hospital, Children’s Healthcare of Texas, Series A (RB) 4.00%, 08/15/27 (c)		555			492,148
North Fort Bend Water Authority, Series A (RB) 4.00%, 12/15/29 (c)		250			226,090
North Texas Tollway Authority System, Second Tier (RB) 4.25%, 01/01/28 (c)		500			434,198
Northside Independent School District, Unlimited Tax School Building (GO) 3.00%, 06/01/29 (c)		745			521,204
San Jacinto College District, Series A (GO) 5.00%, 02/15/29 (c)		500			524,062
Tarrant County Cultural Education Facilities Finance Corp., Christus Health, Series B (RB) 5.00%, 01/01/29 (c)		250			247,397
Texas Water Development Board (RB) 4.00%, 10/15/30 (c)		500			452,623
Texas Water Development Board, Series A (RB)
3.00%, 10/15/29 (c)		500			400,610
4.00%, 04/15/28 (c)		325			290,609
5.00%, 04/15/28 (c)		840			865,353

	Par
	(000’s		)	Value
Texas (continued)
Texas Water Development Board, Series B (RB)
4.00%, 10/15/28 (c)	$	1,000		$	919,665
5.00%, 10/15/28 (c)		225			230,491
United Independent School District, Unlimited Tax School Building (GO) 5.00%, 08/15/28 (c)		500			520,138
West Harris County Regional Water Authority (RB) 3.00%, 12/15/29 (c)		250			151,908
West Travis County Public Utility Agency (RB) (BAM) 4.00%, 08/15/27 (c)		230			199,626
					20,759,021
Utah: 0.9%
Salt Lake City, International Airport, Series B (RB) 5.00%, 07/01/28 (c)		360			356,252
University of Utah, Board of Higher Education (RB) 5.00%, 08/01/31 (c)		800			836,189
Utah County, IHC Health Services, Inc., Series A (RB) 5.00%, 05/15/30 (c)		250			253,663
Utah County, IHC Health Services, Inc., Series B (RB)
3.00%, 05/15/26 (c)		210			143,370
4.00%, 05/15/24 (c)		350			300,116
					1,889,590
Virginia: 1.7%
Fairfax County Industrial Development Authority, Inova Health System Project, Series B (RB) 4.00%, 05/15/28 (c)		250			214,860
Hampton Roads Transportation Accountability Commission, Hampton Roads Transportation, Series A (RB)
4.00%, 07/01/30 (c)		665			616,794
4.00%, 07/01/32 (c)		600			503,389
5.00%, 07/01/30 (c)		500			513,931
5.00%, 07/01/30 (c)		625			647,244
Norfolk Economic Development Authority, Series B (RB) 4.00%, 11/01/28 (c)		250			211,422
Rector and Visitors of Virginia University, Series A (RB) 4.00%, 04/01/25 (c)		500			457,646
Virginia Small Business Financing Authority, National senior Campuses, Inc., Series A (RB) 4.00%, 07/01/27 (c)		500			409,710
					3,574,996

	Par
	(000’s		)	Value
Washington: 2.4%
City of Seattle, Municipal Light and Power Improvement, Series A (RB) 4.00%, 01/01/28 (c)	$	450		$	391,452
Energy Northwest, Columbia Generating Station Electric, Series A (RB)
4.00%, 07/01/31 (c)		1,000			902,642
5.00%, 07/01/31 (c)		455			477,784
5.00%, 07/01/31 (c)		600			626,870
King County Public Hospital District No. 1, Valley Medical Center (GO) (SAW) 5.00%, 12/01/28 (c)		150			152,022
King County Public Hospital District No. 2, Evergreen Health, Series A (GO) 4.00%, 12/01/29 (c)		650			565,747
State of Washington, Convention Center Public Facilities District (RB) 4.00%, 07/01/28 (c)		125			91,041
State of Washington, Various Purpose, Series C (GO) 5.00%, 02/01/28 (c)		800			826,582
State of Washington, Various Purpose, Series D (GO) 5.00%, 02/01/27 (c)		735			761,830
Washington Health Care Facilities Authority, Virginia Mason Medical Center (RB) 4.00%, 08/15/27 (c)		205			167,869
					4,963,839
West Virginia: 0.4%
State of West Virginia, Series B (GO)
4.00%, 06/01/28 (c)		150			132,823
5.00%, 06/01/28 (c)		100			104,189
West Virginia Parkways Authority, Turnpike Toll (RB) 5.00%, 06/01/31 (c)		620			637,085
					874,097
Wisconsin: 0.7%
Public Finance Authority Health Care Facilities, Series A (RB) 3.00%, 01/01/30 (c)		250			157,050
Public Finance Authority Retirement Communities, Series A (RB) 5.00%, 11/15/27 (c)		750			706,073
Village of Mount Pleasant, Series A (TA) 5.00%, 04/01/28 (c)		250			246,856
Wisconsin Center District, Series D (RB) (AGM) 0.00%, 12/15/30 (c) ^		250			72,975

The summary of inputs used to value the Fund’s investments as of October 31, 2022 is as follows:

	Number of Shares			Value
CLOSED-END FUNDS: 12.6% (a)
BlackRock MuniYield Quality Fund III, Inc.		2,224	$	22,329
BNY Mellon Municipal Income, Inc.		3,612		21,130
Delaware Investments National Municipal Income Fund		2,332		24,245
DWS Municipal Income Trust		5,329		42,366
Eaton Vance New York Municipal Bond Fund		2,644		22,157
MFS High Yield Municipal Trust		7,131		20,609
MFS Investment Grade Municipal Trust		3,316		21,786
MFS Municipal Income Trust		4,549		21,699
Neuberger Berman California Municipal Fund, Inc.		2,305		23,004
Nuveen New Jersey Quality Municipal Income Fund		2,055		21,886
Nuveen Ohio Quality Municipal Income Fund		2,011		23,750
Nuveen Pennsylvania Quality Municipal Income Fund		2,100		21,735

	Number of Shares		Value
Pioneer Municipal High Income Fund Trust		2,566	$	20,477
Western Asset Managed Municipals Fund, Inc.		2,411		22,880
Total Closed-End Funds (Cost: $485,222)				330,053

EXCHANGE TRADED FUNDS: 87.3% (a)
VanEck CEF Muni Income ETF ‡		1,311		26,076
VanEck High Yield Muni ETF ‡		13,101		641,556
VanEck Intermediate Muni ETF ‡		21,772		945,992
VanEck Short High Yield Muni ETF ‡		6,559		141,871
VanEck Short Muni ETF ‡		30,610		505,371
Total Exchange Traded Funds (Cost: $2,552,405)				2,260,866
Total Investments: 99.9% (Cost: $3,037,627)				2,590,919
Other assets less liabilities: 0.1%				1,831
NET ASSETS: 100.0%			$	2,592,750

Transactions in securities of affiliates for the period ended October 31, 2022 were as follows:

The summary of inputs used to value the Fund’s investments as of October 31, 2022 is as follows:

	Par (000’s		)	Value
MUNICIPAL BONDS: 98.0%
Alabama: 2.3%
Alabama Special Care Facilities Financing Authority- Birmingham, Methodist Home (RB) 5.50%, 06/01/26 (c)	$	500		$	464,756
Black Belt Energy Gas District, Series B-1 (RB) 4.00%, 10/01/27 (c) (p)		500			474,587
Black Belt Energy Gas District, Series C-1 (RB) 4.00%, 12/01/26 (c) (p)		2,100			2,022,217
Hoover Industrial Development Board, United States Steel Corp. Project (RB) 6.38%, 11/01/30 (p)		390			423,655
Lower Alabama Gas District, Project No. 2 (RB) (SAW) 4.00%, 12/01/25 (c) (p)		1,000			971,298
Southeast Alabama Gas Supply District, Series A (RB) 4.00%, 04/01/24 (c) (p)		2,100			2,071,397
Sumter County, Alabama Industrial Development Authority Exempt Facilities, Enviva, Inc. Project (RB) 6.00%, 07/15/32 (c) (p)		1,000			904,798
Tuscaloosa County Industrial Development Authority, Hunt Refining Project, Series A (RB) 4.50%, 05/01/29 (c)		2,371			2,014,975
					9,347,683
American Samoa: 0.1%
American Samoa Economic Development Authority, Series A (RB) 6.50%, 09/01/28		250			268,751
Arizona: 1.7%
Arizona Industrial Development Authority, Basis School Projects, Series A (RB)
4.75%, 07/01/23 (c)		195			188,638
5.00%, 07/01/26		150			150,741
Arizona Industrial Development Authority, Economic Development, Linder Village Project (RB) (AGM) 5.00%, 06/01/31		1,000			963,125
Arizona Industrial Development Authority, Legacy Cares, Inc. Project, Series A (RB) (AGM) 6.75%, 07/01/27 (c)		500			450,000
Arizona Industrial Development Authority, Legacy Cares, Inc. Project, Series C (RB) (AGM) 6.75%, 07/01/27 (c)		1,000			850,000

	Par (000’s		)		Value
Arizona (continued)
Arizona Industrial Development Authority, Leman Academy of Excellence, East Tucson and Central Tucson Projects, Series A (RB) 4.00%, 07/01/24 (c)	$	500		$	460,963
Arizona Industrial Development Authority, Pinecrest Academy of Nevada, Cadence Campus Project, Series A (RB) 4.00%, 07/15/28 (c)		495			451,972
Arizona Industrial Development Authority, Pinecrest Academy of Northern Nevada Project, Series A (RB) 4.50%, 07/15/25 (c)		500			469,841
Arizona Industrial Development Authority, Point 320 LLC, Series A (RB) 3.62%, 05/20/33		474			427,821
City of Phoenix Civic Improvement Corp., Junior Lien Airport, Series B (RB) 5.00%, 07/01/29 (c)		1,000			1,027,047
City of Phoenix Civic Improvement Corp., Junior Lien Airport, Series D (RB) 5.00%, 07/01/27 (c)		500			522,478
Industrial Development Authority of the City of Phoenix, Basis Schools, Inc. Project, Series A (RB) 4.00%, 07/01/25		325			318,236
Maricopa County Industrial Development Authority, Legacy Traditional Schools Projects, Series B (RB) 4.00%, 07/01/29		240			222,916
Salt Verde Financial Corp. (RB)
5.25%, 12/01/23		200			202,158
5.25%, 12/01/24		65			66,204
5.25%, 12/01/28		10			10,342
5.50%, 12/01/29		370			387,221
					7,169,703
Arkansas: 0.5%
Arkansas Development Finance Authority, Baptist Memorial Health Care Corp., Series B-2 (RB) 5.00%, 09/01/27 (c) (p)		2,000			2,054,918
California: 6.8%
Antelope Valley Healthcare District, Series A (RB) 5.00%, 03/01/26		575			575,397
California Community Choice Financing Authority, Clean Energy Project, Series A (RB) 4.00%, 12/01/27 (c) (p)		1,000			975,974

	Par (000’s		)		Value
California (continued)
California Health Facilities Financing Authority, Commonspirit Health, Series A (RB) 5.00%, 04/01/30 (c)	$	1,275		$	1,324,982
California Housing Finance Agency, Series A (RB) 4.00%, 03/20/33		1,913			1,810,474
California Municipal Finance Authority, CHF-Davis I, LLC-West Village Student Housing Project, Series A (RB) 5.00%, 11/15/28 (c)		1,340			1,354,268
California Municipal Finance Authority, Community Medical Centers, Series A (RB)
5.00%, 02/01/27		50			51,549
5.00%, 02/01/27 (c)		50			51,515
California Municipal Finance Authority, LINXS APM Project, Series A (RB)
5.00%, 06/30/27		610			623,143
5.00%, 06/30/28		220			224,878
California Municipal Finance Authority, LINXS APM Project, Series A (RB) (AGM) 5.00%, 06/30/28 (c)		260			264,115
California Municipal Finance Authority, United Airlines, Inc., International Airport Project (RB) 4.00%, 07/15/29		3,210			2,981,179
California Pollution Control Financing Authority, Solid Waste Disposal, CalPlant I Project (RB) 7.00%, 07/01/22 (d) *		1,000			600,000
California Pollution Control Financing Authority, Solid Waste Disposal, CalPlant I Project (RB) (SAW) 7.50%, 07/01/32 (d) *		1,360			924,800
California Pollution Control Financing Authority, Solid Waste Disposal, Waste Management, Inc. Project, Series A-1 (RB)
3.38%, 07/01/25		400			388,804
3.62%, 07/01/25 (c)		2,000			1,920,513
California Public Finance Authority, Enso Village Project, Series B (RB) 3.12%, 11/15/23 (c)		1,500			1,281,315
California Statewide Communities Development Authority, Baptist University, Series A (RB) 3.50%, 11/01/27		1,000			943,694

	Par (000’s		)		Value
California (continued)
California Statewide Communities Development Authority, Daughters of Charity Health System, Series A (RB) 5.75%, 12/01/22 (c)	$	6		$	5,569
California Statewide Communities Development Authority, Irvine East Campus Armaments, CHF-Irvine, LLC (RB) 5.00%, 05/15/26 (c)		300			302,312
California Statewide Communities Development Authority, Lancer Educational Student Housing Project, Series A (RB) 5.00%, 07/01/24		100			99,098
California Statewide Communities Development Authority, Loma Linda University Medical Center, Series A (RB) 5.00%, 06/01/26 (c)		350			351,678
California Statewide Communities Development Authority, NCCD-Hooper Street LLC-California College of the Arts Project (RB) 5.00%, 07/01/29		250			236,150
California Statewide Communities Development Authority, Southern California Edison Company, Series C (RB) 2.62%, 12/01/23 (p)		500			490,752
City and County of San Francisco, Airport Commission, International Airport, Series H (RB)
5.00%, 05/01/26		500			512,700
5.00%, 05/01/27		500			514,207
5.00%, 05/01/29		500			516,633
City of Modesto, Community Center Refinancing Project, Series A (CP) (AMBAC) 5.00%, 11/01/23		15			14,977
City of Oroville Hospital (RB) 5.00%, 04/01/29 (c)		500			493,492
Compton Public Finance Authority (RB) 4.50%, 09/01/24 (c)		1,000			947,327
County of Sacramento, Airport System, Series C (RB) 5.00%, 07/01/27		250			257,297
County of Sacramento, Airport System, Series E (RB) 5.00%, 07/01/28		115			122,873

	Par (000’s		)		Value
California (continued)
County of Santa Barbara, Solid Waste System, Series B (CP) (AMBAC) 5.00%, 12/01/28 (c)	$	520		$	549,958
El Centro Financing Authority, El Centro Regional Medical Center Project (RB) 4.50%, 07/01/26 (c)		480			454,293
Foothill/Eastern Transportation Corridor Agency, Toll Road, Series A (RB) 6.00%, 01/15/24 (c)		450			465,005
Irvine Unified School District Community Facilities District No. 09-1, Series D (ST) 5.00%, 09/01/26		110			113,956
Lake Elsinore Public Financing Authority, Local Agency (ST) 5.00%, 09/01/24		230			234,340
Long Beach Bond Finance Authority, Natural Gas Purchase, Series A (RB) 5.50%, 11/15/30		265			279,917
MSR Energy Authority, Series A (RB) 6.12%, 11/01/29		280			301,923
Northern California Energy Authority, Series A (RB) 4.00%, 07/01/24 (p)		1,250			1,239,686
Oakland Unified School District (GO) 5.00%, 08/01/26		380			400,716
Palomar Health (RB)
5.00%, 11/01/25		250			255,984
5.00%, 11/01/26 (c)		90			92,069
Port of Oakland (RB) 5.00%, 11/01/23		195			197,726
Poway Unified School District Public Financing Authority, Series A (ST) 5.00%, 09/01/24		110			112,017
River Islands Public Financing Authority, Improvement Area No. 1, Series A (ST) (AGM) 5.00%, 09/01/29 (c)		500			529,201
Riverside County Public Financing Authority, Capital Facilities Project (RB) 5.00%, 11/01/23		110			111,927
San Francisco Community College District (GO)
5.00%, 06/15/25		1,000			1,042,892
5.00%, 06/15/25 (c)		205			213,599
San Francisco Redevelopment Agency, Community Facilities District No. 6, Series A (ST) 5.00%, 12/01/22 (c)		120			120,101

	Par (000’s		)		Value
California (continued)
Western Hills Water District, Diablo Grande Community Facilities District No. 1 (ST) 4.00%, 09/01/21 (d) *	$	370		$	166,500
					28,043,475
Colorado: 1.7%
Arista Metropolitan District in the City and County of Broomfield, Series A (GO) 4.38%, 12/01/23 (c)		500			462,888
City and County of Denver, Colorado Airport System, Series A (RB) 5.00%, 12/01/28 (c)		295			303,417
City and County of Denver, United Airlines, Inc. Project (RB) 5.00%, 10/01/23 (c)		1,000			963,971
Colorado Health Facilities Authority, Aberdeen Ridge, Series B-1 (RB) 3.50%, 05/15/23 (c)		1,000			868,390
Colorado Public Authority, Natural Gas Purchase (RB) 6.12%, 11/15/23		70			70,713
Denver Convention Center Hotel Authority (RB) 5.00%, 12/01/26 (c)		600			614,450
Fountain Urban Renewal Authority, South Academy Highlands Project, Series A (TA) 4.50%, 11/01/25 (c)		595			537,332
Painted Prairie Public Improvement Authority (RB) 4.00%, 12/01/24 (c)		500			455,836
Public Authority for Colorado Energy, Natural Gas Purchase (RB) 6.25%, 11/15/28		140			146,307
Rocky Mountain Rail Park Metropolitan District (GO) 5.00%, 03/01/26 (c)		500			450,533
Southlands Metropolitan District No. 1, Series A-1 (GO) 3.50%, 12/01/27		200			179,746
STC Metropolitan District No. 2, Series A (GO) 4.00%, 12/01/24 (c)		500			453,497
Transport Metropolitan District No. 3 (GO) 4.12%, 03/01/26 (c)		1,000			860,653
Windler Public Improvement Authority, Series A-1 (RB) (BAM) 4.00%, 09/01/26 (c)		1,000			819,077
					7,186,810

	Par (000’s		)		Value
Connecticut: 0.6%
City of Hartford, Series A (GO) 5.00%, 04/01/23 (c)	$	405		$	407,989
Connecticut State Health and Educational Facilities Authority, Masonicare Issue, Series F (RB) 4.00%, 07/01/26 (c)		120			109,563
Harbor Point Infrastructure Improvement District, Harbor Point Project (TA) 5.00%, 04/01/27 (c)		1,000			987,175
Town of Hamden, Whitney Center Project (RB) 5.00%, 01/01/26 (c)		500			466,494
University of Connecticut, Series A (RB) 5.00%, 03/15/25		380			394,484
					2,365,705
Delaware: 0.2%
Delaware State Economic Development Authority, NRG Energy Project, Series A (RB) 1.25%, 10/01/25 (c) (p)		1,000			885,721
District of Columbia: 0.4%
District of Columbia, Ingleside at Rock Creek Project, Series A (RB) 4.12%, 07/01/24 (c)		1,060			994,047
District of Columbia, Latin American Montessori Bilingual Public Charter School (RB) 4.00%, 06/01/30		500			469,358
					1,463,405
Florida: 5.8%
Capital Projects Finance Authority, Capital Projects Loan Program - Florida Universities, Series A-1 (RB) (NATL) 5.00%, 10/01/30		500			493,557
Capital Trust Agency Educational Facilities, Chapter Educational Foundation, Inc. Project, Series A (RB) 4.50%, 06/15/28		990			942,127
Capital Trust Agency, Education Growth Fund, LLC Charter School Portfolio Project, Series A-1 (RB) 3.38%, 07/01/31		1,540			1,310,704
Capital Trust Agency, Educational Facilities, Renaissance Charter School, Inc., Series A (RB) 4.38%, 06/15/27		1,050			1,004,391

	Par (000’s		)		Value
Florida (continued)
Capital Trust Agency, Elim Senior Housing, Inc., Project (RB) 5.00%, 08/01/24 (c)	$	425		$	372,343
Capital Trust Agency, The Marie Selby Botanical Gardens, Inc., Project (RB) 4.00%, 06/15/26 (c)		535			455,682
Central Florida Expressway Authority, Series D (RB) (AGM) 5.00%, 07/01/31 (c)		500			538,806
City of Orlando, Florida Senior Tourist Development Tax, Series A (RB) (AGM) 5.00%, 11/01/27 (c)		500			535,376
City of Orlando, Tourist Development Tax, Series A (RB) (AGM) 5.00%, 11/01/27		600			641,874
City of Pompano Beach, John Knox Village Project, Series B-1 (RB) 2.00%, 01/01/29		1,000			817,236
County of Broward, Florida Airport System, Series A (RB) 5.00%, 10/01/25 (c)		290			293,488
County of Miami-Dade, Series A (RB) 5.00%, 10/01/26 (c)		750			770,457
County of Palm Beach, Atlantic University Housing Project, Series A (RB) 5.00%, 04/01/29		500			478,287
Escambia County, Health Facilities Authority, Baptist Health Care Corp., Series A (RB) (SAW) 5.00%, 02/15/30 (c)		500			504,026
Florida Development Finance Corp. Education Facilities, Central School Project (RB) 5.00%, 08/15/32		500			450,971
Florida Development Finance Corp. Education Facilities, Cornerstone Chapter Academy Project (RB) 5.00%, 10/01/29 (c)		500			489,278
Florida Development Finance Corp., IPS Florida LLC- Idea Florida Inc. (RB) 5.25%, 06/15/27 (c)		500			474,492
Florida Development Finance Corp., Renaissance Chapter School Inc. Project, Series C (RB) 4.00%, 09/15/27 (c)		470			425,710

	Par (000’s		)		Value
Florida (continued)
Florida Development Finance Corp., Southwest Charter Foundation Inc. Project, Series A (RB) 5.12%, 06/15/27	$	150		$	140,791
Florida Development Finance Corp., The Glenridge on Palmer Ranch Project (RB) (SAW) 5.00%, 06/01/28 (c)		625			570,191
Florida Development Finance Corp., Virgin Trains USA Passenger Rail Project, Series A (RB)
6.25%, 01/01/24 (c) (p)		2,015			1,919,199
6.38%, 01/01/26 (c) (p)		2,730			2,460,153
6.50%, 01/01/29 (c) (p)		2,750			2,423,052
Florida Development Finance Corp., Waste Pro USA, Inc. Project (RB) 5.00%, 12/01/22 (c)		500			469,071
Hillsborough County, Aviation Authority, Florida Tampa International Airport, Series A (RB) 5.00%, 10/01/23 (c)		500			507,692
JEA Electric System, Series B (RB) 5.00%, 10/01/27 (c)		110			116,302
Miami-Dade County Industrial Development Authority, NCCD-Biscayne Properties LLC Project, Series A (RB) 5.00%, 06/01/25 (c)		315			297,304
Mid-Bay Bridge Authority, First Senior Lien, Series A (RB)
5.00%, 10/01/23		250			252,651
5.00%, 10/01/24		250			253,989
Polk Country Industrial Development Authority, Florida Industrial Development (RB) 5.88%, 01/01/33		2,000			1,946,926
School Board of Miami-Dade County, Series D (CP) 5.00%, 02/01/26 (c)		120			123,994
School District of Broward County, Series B (CP) 5.00%, 07/01/27 (c)		315			331,355
School District of St. Lucie County, Sales Tax (RB) (AGM) 5.00%, 10/01/25		250			259,935
Village Community Development District No. 12 (SA) (SAW) 3.80%, 05/01/28		470			450,021

	Par (000’s		)		Value
Florida (continued)
Village Community Development District No. 13 (SA)
2.62%, 05/01/24	$	245		$	235,752
3.00%, 05/01/29		240			205,222
					23,962,405
Georgia: 1.6%
Atlanta Development Authorities Senior Health Care Facilities, Proton Treatment Center Project, Series A-1 (RB) 6.00%, 01/01/23		250			132,500
Burke County Development Authority, Georgia Power Company Plant Vogtle Project (RB) 2.92%, 03/12/24 (p)		250			244,825
Burke County Development Authority, Georgia Power Company Plant Vogtle Project, Series E (RB) 3.25%, 02/03/25 (p)		1,000			973,657
Floyd County Development Authority, Spires at Berry College Project, Series A (RB) (SBG) 5.50%, 12/01/24 (c)		250			235,677
George L Smith II Congress Center Authority, Convention Center Hotel, First Ties, Series A (RB) 2.38%, 01/01/31		1,500			1,254,725
Georgia Local Government, Grantor Trust, Series A (CP) (NATL) 4.75%, 06/01/28		380			387,855
Georgia State, Road and Tollway Authority, Highway Grant Anticipation (RB)
5.00%, 06/01/25		300			312,315
5.00%, 06/01/28		250			269,400
Main Street Natural Gas, Inc., Series A-1 (RB)
5.50%, 09/15/23		130			131,545
5.50%, 09/15/25		135			139,173
Main Street Natural Gas, Inc., Series C (RB)
4.00%, 11/01/27 (c) (p)		1,000			923,930
4.00%, 09/01/26 (c) (p)		1,000			960,222
Marietta Development Authority, University Facilities, Life University, Inc. Project, Series A (RB) 5.00%, 11/01/27		250			249,890

	Par (000’s		)		Value
Georgia (continued)
White County Development Authority, Truett McConnell University Project, Series A (RB) 5.00%, 10/01/26 (c)	$	225		$	207,727
					6,423,441
Guam: 1.2%
Guam Government, Business Privilege Tax, Series D (RB) 5.00%, 11/15/25 (c)		360			360,417
Guam Government, Business Privilege Tax, Series F (RB)
5.00%, 01/01/30		1,000			998,022
5.00%, 01/01/31		1,000			993,245
Guam Government, Department of Education, John F. Kennedy High School and Energy Efficiency Project, Series A (CP) 3.62%, 02/01/25		250			237,705
Guam Government, Hotel Occupancy Tax, Series A (RB) 5.00%, 11/01/28		250			250,171
Guam Government, Series A (RB) 5.00%, 12/01/24		1,000			1,003,138
Guam Power Authority, Series A (RB) 5.00%, 10/01/32 (c)		880			895,746
					4,738,444
Hawaii: 0.3%
State of Hawaii Department of Budget & Finance, Hawaiian Electric Company, Inc., Series A (RB) 3.10%, 05/01/26		1,500			1,434,554
Illinois: 16.3%
Chicago Board of Education, Series A (GO)
5.00%, 12/01/29		1,000			981,902
5.00%, 12/01/29 (c)		1,000			977,537
5.00%, 12/01/30 (c)		2,000			1,930,289
5.00%, 12/01/30 (c)		1,500			1,435,668
7.00%, 12/01/25 (c)		200			212,568
Chicago Board of Education, Series A (GO) (AGM)
5.00%, 12/01/28 (c)		250			246,409
5.00%, 12/01/28 (c)		200			205,278
Chicago Board of Education, Series A (GO) (AMBAC) 5.50%, 12/01/26		230			239,685
Chicago Board of Education, Series A (GO) (NATL)
0.01%, 12/01/24		310			282,601
0.01%, 12/01/26		310			256,148
0.01%, 12/01/28		795			591,297

	Par (000’s		)		Value
Illinois (continued)
Chicago Board of Education, Series B (GO)
5.00%, 12/01/29 (c)	$	1,400		$	1,336,607
5.00%, 12/01/29 (c)		2,000			1,939,611
5.00%, 12/01/29		1,250			1,227,378
5.00%, 12/01/29 (c)		1,950			1,877,643
5.00%, 12/01/29 (c)		1,250			1,221,921
5.00%, 12/01/30		2,000			1,953,640
5.00%, 12/01/30 (c)		3,000			2,915,795
Chicago Board of Education, Series B-1 (GO) (NATL) 0.01%, 12/01/23		350			334,152
Chicago Board of Education, Series C (GO)
5.00%, 12/01/24		1,000			1,001,910
5.00%, 12/01/27		500			494,496
5.00%, 12/01/27 (c)		1,560			1,525,877
Chicago Midway International Airport, Series A (RB) (AGM) 5.00%, 01/01/24 (c)		750			752,117
Chicago Midway International Airport, Series B (RB) 5.00%, 01/01/24 (c)		260			263,231
Chicago O’Hare International Airport, Series B (RB)
4.00%, 12/01/22 (c)		1,000			966,521
5.00%, 01/01/25 (c)		105			107,928
5.00%, 01/01/25 (c)		190			194,566
5.00%, 01/01/25 (c)		295			300,850
Chicago School Reform Board of Trustees, Series A (GO) (NATL) 0.01%, 12/01/29		575			405,373
Chicago School Reform Board of Trustees, Series B-1 (GO) (NATL)
0.00%, 12/01/28 ^		1,515			1,126,812
0.00%, 12/01/29 ^		585			412,423
0.01%, 12/01/24		515			469,481
0.01%, 12/01/25		560			486,586
0.01%, 12/01/26		490			404,880
0.01%, 12/01/30		190			126,528
Chicago Transit Authority, Federal Transit Administration Section 5307 Urbanized Area Formula (RB)
5.00%, 06/01/24		115			117,543
5.00%, 06/01/25		1,000			1,019,687
5.00%, 06/01/26		535			548,488
Chicago Transit Authority, Federal Transit Administration Section 5337 Urbanized Area Formula (RB) 5.00%, 06/01/25		1,000			1,019,687
City of Chicago, Neighborhoods Alive 21 Program, Series B (GO) 5.00%, 01/01/25		280			281,047

	Par (000’s		)		Value
Illinois (continued)
City of Chicago, Second Lien Water (RB)
5.00%, 11/01/24 (c)	$	150		$	152,775
5.00%, 11/01/24 (c)		270			274,746
5.00%, 11/01/24 (c)		100			101,003
5.00%, 12/01/22 (c)		100			100,270
City of Chicago, Second Lien Water, Series A-1 (RB) 5.00%, 11/01/26 (c)		100			101,339
City of Chicago, Series A (GO)
4.00%, 01/01/31 (c)		500			446,470
5.00%, 01/01/30		1,500			1,478,990
5.25%, 01/01/24 (c)		180			180,257
City of Chicago, Series C (GO)
5.00%, 01/01/24		400			401,402
5.00%, 01/01/25		1,090			1,094,314
Cook County Community College District No. 508 (GO) 5.25%, 12/01/23 (c)		240			240,729
County of Cook, Series A (GO) 5.00%, 11/15/26 (c)		500			523,189
Illinois Finance Authority, Admiral Lake Project (RB) 5.00%, 05/15/24 (c)		500			400,031
Illinois Finance Authority, Charter School, Art In Motion Project, Series A (RB) 4.00%, 07/01/31		1,000			815,995
Illinois Finance Authority, Friendship Village of Schaumburg (RB) 5.00%, 02/15/27 (d) *		1,190			583,100
Illinois Finance Authority, Lutheran Life Communities, Series A (RB) 5.00%, 11/01/26 (c)		250			237,803
Illinois Finance Authority, Roosevelt University (RB) 5.40%, 12/01/22 (c)		100			97,133
Illinois Finance Authority, Three Crowns Park (RB) 4.00%, 02/15/24 (c)		250			238,682
Illinois Municipal Electric Agency, Power Supply System, Series A (RB) 5.00%, 08/01/25 (c)		785			814,742
Illinois Sports Facilities Authority (RB)
5.00%, 06/15/28		395			390,449
5.00%, 06/15/29		545			536,488
Illinois Sports Facilities Authority (RB) (AMBAC) 0.00%, 06/15/26 ^		260			222,157
Metropolitan Pier and Exposition Authority, McCormick Place Expansion Project, Series A (RB) (NATL) 0.00%, 12/15/24 ^		130			118,353

	Par (000’s		)		Value
Illinois (continued)
Metropolitan Pier and Exposition Authority, McCormick Place Expansion Project, Series B (RB) 5.00%, 12/15/27 (c)	$	500		$	500,987
Metropolitan Pier and Exposition Authority, McCormick Place Expansion Project, Series B (RB) (NATL) 0.00%, 06/15/28 ^		115			88,048
Northern Illinois Municipal Power Agency, Series A (RB) 5.00%, 12/01/26 (c)		330			348,388
State of Illinois (GO)
3.50%, 06/01/26 (c)		350			317,325
3.50%, 06/01/26 (c)		1,845			1,649,844
4.00%, 12/01/22 (c)		185			181,781
4.12%, 11/01/26 (c)		100			92,032
4.12%, 12/01/22 (c)		300			288,783
5.00%, 01/01/26		200			201,557
5.00%, 11/01/24		705			711,259
5.00%, 12/01/25		1,315			1,325,391
5.00%, 02/01/24		120			121,025
5.00%, 02/01/24 (c)		150			150,690
5.00%, 02/01/24		500			504,271
5.00%, 02/01/26		515			518,949
5.00%, 02/01/27 (c)		600			600,726
5.00%, 02/01/27		500			503,382
5.00%, 05/01/24 (c)		1,250			1,251,059
5.00%, 05/01/24 (c)		100			100,214
5.00%, 06/01/26		100			100,745
5.00%, 06/01/26 (c)		455			457,052
5.25%, 07/01/23 (c)		275			275,470
5.50%, 07/01/23 (c)		60			60,277
5.50%, 07/01/23 (c)		500			502,647
5.50%, 07/01/23 (c)		270			271,845
State of Illinois (GO) (NATL) 6.00%, 11/01/26		2,000			2,078,413
State of Illinois, Sales Tax (RB)
4.00%, 06/15/26 (c)		810			803,012
5.00%, 06/15/23 (c)		190			191,103
5.00%, 06/15/23 (c)		285			286,573
5.00%, 06/15/26		235			241,255
5.00%, 06/15/31		1,000			1,033,996
State of Illinois, Sales Tax (RB) (BAM) 3.00%, 06/15/31 (c)		500			424,485
State Of Illinois, Sales Tax, Series A (RB) (BAM) 4.00%, 06/15/30		1,000			986,240
State of Illinois, Series A (GO)
4.00%, 12/01/22 (c)		100			94,929
5.00%, 10/01/28		500			501,120
5.00%, 03/01/29		500			500,826
5.00%, 03/01/30		500			500,330
State of Illinois, Series B (GO)
4.00%, 10/01/30 (c)		500			449,834
5.00%, 10/01/28 (c)		1,000			991,135

	Par (000’s		)		Value
Illinois (continued)
5.00%, 09/01/27	$	600		$	602,769
State of Illinois, Series C (GO) 5.00%, 11/01/27 (c)		315			315,274
State of Illinois, Series D (GO)
3.25%, 11/01/26		165			155,826
5.00%, 11/01/25		1,250			1,260,018
5.00%, 11/01/26		1,395			1,405,031
5.00%, 11/01/27		1,130			1,134,447
5.00%, 11/01/27 (c)		110			110,193
					66,933,133
Indiana: 0.9%
City of Anderson, Indiana Economic Development, Anderson University (RB) 4.75%, 12/01/22 (c)		290			266,066
Indiana Finance Authority, Ohio Valley Electric Corp. Project, Series B (RB) 3.00%, 11/01/30		1,000			849,350
Indiana Finance Authority, United States Steel Corp. Project, Series A (RB) 4.12%, 12/01/26		2,000			1,915,409
Indianapolis Local Public Improvement, Indianapolis Airport Authority Project, Series D (RB) 5.00%, 01/01/29		500			514,664
					3,545,489
Iowa: 1.2%
City of Coralville, Marriott Hotel and Convention Center, Series E (CP) 4.00%, 06/01/24 (c)		945			896,745
Iowa Finance Authority, Midwestern Disaster Area, Iowa Fertilizer Company Project (RB) 4.00%, 12/01/32 (c) (p)		1,000			900,898
Iowa Finance Authority, Northcrest, Inc. Project, Series B (RB) 5.00%, 03/01/24 (c)		350			341,982
Iowa Higher Education Loan Authority, Wartburg College Project (RB) 4.00%, 10/01/25		755			728,764
PEFA, Inc., Gas Project (RB) 5.00%, 09/01/26 (c) (p)		1,920			1,918,726
					4,787,115
Kansas: 0.1%
City of Goddard, Olympic Park Star Bond Project (RB) 3.60%, 12/01/22 (c)		275			245,004
Kansas Development Finance Authority, Village Shalom Project, Series B (RB) (AGC) 4.00%, 11/15/25		100			91,970
					336,974

	Par (000’s		)		Value
Kentucky: 0.4%
Commonwealth of Kentucky, State Property and Building Commission, Project No. 108, Series A (RB) 5.00%, 08/01/25 (c)	$	140		$	144,563
Commonwealth of Kentucky, State Property and Building Commission, Project No. 108, Series B (RB) 5.00%, 08/01/26		140			146,278
Commonwealth of Kentucky, State Property and Building Commission, Project No. 112, Series B (RB)
5.00%, 11/01/25		630			653,168
5.00%, 11/01/26 (c)		325			340,443
Kentucky Asset Liability Commission Project, Federal Highway Trust, First Series A (RB) 5.25%, 09/01/23 (c)		250			253,471
Kentucky Economic Development Finance Authority, Masonic Home Independent Living II, Inc., Series A (RB) 5.00%, 05/15/26		85			82,886
Kentucky Municipal Power Agency, Prairie State Project, Series A (RB) (NATL) 5.00%, 09/01/25 (c)		175			181,769
					1,802,578
Louisiana: 1.7%
Calcasieu Parish Service District, Lake Charles Memorial Hospital Project (RB) 5.00%, 12/01/27		1,025			1,038,320
Calcasieu Parish Service District, Lake Charles Memorial Hospital Project (RB) (SBG) 5.00%, 12/01/29		150			152,241
City of New Orleans, Louisiana Water (RB) 5.00%, 12/01/25 (c)		305			319,569
City of Shreveport, Water and Sewer, Series C (RB) (BAM) 5.00%, 12/01/26		525			547,555
Louisiana Local Government Environment Facilities and Community Development Authority, St. James Place of Baton Rouge Project, Series A (RB) 5.50%, 11/15/25		600			593,237

	Par (000’s		)		Value
Louisiana (continued)
Louisiana Local Government Environmental Facilities and Community Development Authority, Westlake Chemical Corp. Project (RB) 3.50%, 11/01/27 (c)	$	3,060		$	2,740,280
Louisiana Public Facilities Authority, Solid Waste Disposal Revenue, Louisiana Pellets, Inc. Project (RB) 7.00%, 07/01/24 (d) *		330			3
Louisiana Public Facilities Authority, Solid Waste Disposal Revenue, Louisiana Pellets, Inc. Project, Series A (RB) 7.50%, 07/01/23 (d) *		521			5
Parish of St James, Nustar Logistics, LP Project (RB) 6.10%, 06/01/30 (p)		1,500			1,574,992
					6,966,202
Maryland: 0.7%
City of Baltimore, East Baltimore Research Park Project, Series A (RB) 4.00%, 09/01/27		200			192,496
County of Frederick, Mount Saint Mary’s University, Series A (RB) 5.00%, 09/01/27		350			347,460
County of Howard, Series A (TA) 4.00%, 02/15/26 (c)		200			189,469
Maryland Economic Development Corp., CNX Marine Terminal, Inc. Port of Baltimore Facility (RB) 5.75%, 12/01/22 (c)		695			694,757
Maryland Economic Development Corp., Metro Centre at Owings Mills Project (TA) 3.75%, 01/01/27 (c)		155			146,342
Maryland Economic Development Corp., Port Covington Project (TA) 3.25%, 09/01/30		1,000			869,953
Maryland Economic Development Corp., Transportation Facilities, Series A (RB) 5.00%, 06/01/28		425			440,281
					2,880,758
Massachusetts: 0.6%
Collegiate Charter School of Lowell (RB) 5.00%, 06/15/26 (c)		490			481,050

	Par (000’s		)		Value
Massachusetts (continued)
Massachusetts Development Finance Agency, Beth Israel Lahey Health, Inc., Series I (RB) 5.00%, 07/01/26 (c)	$	310		$	320,985
Massachusetts Development Finance Agency, Beth Israel Lahey Health, Inc., Series K (RB) 5.00%, 07/01/28		500			525,089
Massachusetts Development Finance Agency, Newbridge on the Charles, Inc. (RB) 4.00%, 11/21/22 (c)		250			249,110
Massachusetts Development Finance Agency, Suffolk University (RB) 5.00%, 07/01/27 (c)		335			344,510
Massachusetts Development Finance Agency, UMass Memorial Health Care, Series I (RB) 5.00%, 07/01/26 (c)		100			103,268
Massachusetts Educational Financing Authority (RB) 5.00%, 01/01/25 (c)		275			278,814
					2,302,826
Michigan: 1.6%
City of Detroit, Michigan Unlimited Tax (GO) 5.00%, 04/01/26		1,000			1,020,384
City of Detroit, Series A (GO) (SBG) 5.00%, 04/01/31 (c)		500			501,868
Grand Rapids Economic Development Corp., Beacon Hill at Eastgate, Series A (RB) 4.00%, 11/01/24 (c)		250			228,583
Great Lakes Water Authority, Water Supply System, Senior Lien, Series C (RB)
5.00%, 07/01/26 (c)		1,000			1,043,162
5.00%, 07/01/26 (c)		500			523,957
Michigan Finance Authority Higher Education, Aquinas College Project (RB) 4.00%, 05/01/31		500			429,973
Michigan Finance Authority Higher Education, Thomas M. Cooley Law School Project (RB) 6.25%, 07/01/24 (c)		1,000			987,602
Michigan Strategic Fund, I-75 Improvement Project (RB) 5.00%, 12/31/28 (c)		155			153,492

	Par (000’s		)		Value
Michigan (continued)
Wayne County Airport Authority, Detroit metropolitan Wayne County Airport, Series C (RB) 5.00%, 12/01/27	$	1,415		$	1,500,890
					6,389,911
Minnesota: 0.6%
City of Anoka, Homestead at Anoka, Inc. Project (RB) 4.25%, 11/01/24 (c)		100			93,194
City of Blaine, Senior Housing and Health Facility, Series A (RB) 5.12%, 07/01/25		415			345,786
City of Brooklyn Park, Charter School, Athlos Leadership Academy Project, Series A (RB) 5.25%, 07/01/25 (c)		350			320,914
Duluth Economic Development Authority, Benedictine Health System, Series A (RB) 4.00%, 07/01/26 (c)		1,000			915,780
Saint Paul Minnesota Housing and Redevelopment Authority, Health Care, Series A (RB) 5.00%, 07/01/25 (c)		500			512,488
Saint Paul Minnesota Housing and Redevelopment Authority, HMONG College Prep Academy Project, Series A (RB) 5.00%, 09/01/26		100			99,272
					2,287,434
Mississippi: 0.1%
Mississippi Business Finance Corp., Waste Pro USA, Inc. Project (RB) 5.00%, 08/02/27 (p)		500			474,014
Missouri: 0.9%
City of St. Ann, Northwest Plaza Redevelopment Project, Series A (TA) 4.62%, 11/01/27 (c)		600			556,118
City of St. Louis, Industrial Development Authority, Ballpark Village Development Project, Series A (RB) 3.88%, 11/15/26 (c)		220			188,917
Kansas City Land Clearance Redevelopment Authority, Convention Center Hotel Project, Series B (TA) (AMBAC) 4.38%, 02/01/28 (c)		1,915			1,558,830
Lees Summit Industrial Development Authority, John Knox Village, Series A (RB) 5.00%, 08/15/25 (c)		125			115,750

	Par (000’s		)		Value
Missouri (continued)
Maryland Heights Industrial Development Authority, San Louis Community Ice Center Project, Series A (RB) (BAM) 4.38%, 03/15/28 (c)	$	400		$	360,065
Plaza at Noah’s Ark Community Improvement District (RB) 3.00%, 05/01/29 (c)		500			429,439
St. Louis County, Industrial Development Authority, Friendship Village St. Louis, Series A (RB) 5.00%, 09/01/25 (c)		500			478,504
					3,687,623
Nebraska: 0.2%
Central Plains Energy Project, Gas Project Crossover, Series A (RB)
5.00%, 09/01/27		500			508,889
5.00%, 09/01/28		100			101,951
5.00%, 09/01/30		125			127,493
					738,333
Nevada: 1.1%
City of Reno, Tax Increment Senior Lien, Series C (TA) 5.40%, 12/01/22 (c)		305			295,082
City of Sparks, Tourism Improvement District No. 1, Legends at Sparks Marina (RB)
2.50%, 06/15/24		230			220,586
2.75%, 06/15/28		1,000			866,327
Clark County, Airport System, Series A-2 (RB) 5.00%, 07/01/24 (c)		100			102,453
Clark County, Nevada Pollution Control, Southern California Edison Company (RB) 2.10%, 06/01/31		5			3,977
Clark County, School District, Series A (GO) 5.00%, 06/15/24		500			512,171
Clark County, School District, Series B (GO) (AGM)
5.00%, 06/15/29 (c)		250			269,337
5.00%, 06/15/29		250			269,863
Clark County, School District, Series B (GO) (BAM)
5.00%, 06/15/30 (c)		500			539,548
5.00%, 06/15/30		250			270,149
Clark County, School District, Series C (GO) 5.00%, 12/15/25 (c)		115			120,000
State of Nevada, Department of Business and Industry, Fulcrum Sierra Biofuels, LLC Project (RB) 5.88%, 12/15/27		409			415,241

	Par (000’s		)	Value
Nevada (continued)
State of Nevada, Department of Business and Industry, Somerset Academy, Series A (RB) 4.50%, 12/15/25 (c)	$	545		$	522,512
					4,407,246
New Hampshire: 0.1%
National Finance Authority, Covanta Project, Series A (RB) 4.00%, 07/01/23 (c)		250			232,566
New Hampshire Health and Education Facilities Authority, Hillside Village, Series A (RB) 5.25%, 07/01/24 (c) (d) *		290			113,100
					345,666
New Jersey: 8.8%
Gloucester County, Pollution Control Financing Authority, Series A (RB) 5.00%, 12/01/24		375			378,598
New Jersey Economic Development Authority, American Water Company, Inc. Project, Series B (RB) 2.05%, 12/03/29 (p)		1,250			1,049,680
New Jersey Economic Development Authority, Continental Airlines, Inc. Project (RB)
5.25%, 12/01/22 (c)		2,000			1,968,400
5.62%, 03/05/24 (c)		1,000			986,995
5.75%, 12/01/22 (c)		300			300,155
New Jersey Economic Development Authority, Lions Gate Project (RB) 4.38%, 01/01/24		40			39,448
New Jersey Economic Development Authority, Motor Vehicle Surcharges, Series A (RB)
4.00%, 07/01/27 (c)		760			714,541
5.00%, 07/01/27 (c)		1,000			1,010,140
New Jersey Economic Development Authority, New Jersey Transit Corp. Project, Series A (RB) 4.00%, 11/01/27		380			377,842
New Jersey Economic Development Authority, New Jersey Transit Corp. Project, Series B (RB)
4.00%, 11/01/25		500			500,944
5.00%, 11/01/25		115			118,439
New Jersey Economic Development Authority, New Jersey Transit Transportation Project, Series A (RB) (AGM) 5.00%, 11/01/29 (c)		110			113,944

	Par (000’s		)	Value
New Jersey (continued)
New Jersey Economic Development Authority, School Facilities Construction, Series AAA (RB) 5.50%, 12/15/26 (c)	$	115		$	120,466
New Jersey Economic Development Authority, School Facilities Construction, Series BBB (RB) 5.50%, 12/15/26 (c)		100			108,520
New Jersey Economic Development Authority, School Facilities Construction, Series NN (RB)
5.00%, 03/01/23 (c)		200			200,682
5.00%, 03/01/23 (c)		1,660			1,669,879
5.00%, 03/01/23 (c)		35			35,113
5.00%, 03/01/23 (c)		455			456,861
5.00%, 03/01/23 (c)		1,500			1,504,934
New Jersey Economic Development Authority, School Facilities Construction, Series PP (RB)
5.00%, 06/15/24 (c)		340			345,407
5.00%, 06/15/24 (c)		500			513,938
5.00%, 06/15/24 (c)		320			328,920
New Jersey Economic Development Authority, School Facilities Construction, Series UU (RB)
5.00%, 06/15/24 (c)		690			708,684
5.00%, 06/15/24		430			438,492
New Jersey Economic Development Authority, School Facilities Construction, Series XX (RB)
4.25%, 06/15/25 (c)		440			442,656
4.38%, 06/15/25 (c)		130			130,808
5.00%, 06/15/25 (c)		345			353,714
New Jersey Economic Development Authority, State House Project, Series B (RB) 4.00%, 12/15/28 (c)		750			739,768
New Jersey Economic Development Authority, West Campus Housing, LLC, Series A (RB) 4.12%, 07/01/25 (c)		175			155,064
New Jersey Educational Facilities Authority, Higher Education Facilities Trust (RB)
5.00%, 06/15/24 (c)		175			177,912
5.00%, 06/15/24 (c)		145			147,306
New Jersey Health Care Facilities Financing Authority, Hospital Asset Transformation Program (RB) 5.00%, 10/01/24		315			321,364

	Par (000’s		)	Value
New Jersey (continued)
New Jersey State Turnpike Authority, Series A (RB) (AGM) 5.25%, 01/01/26	$	500		$	527,879
New Jersey Transportation Trust Fund Authority, Series A (RB)
0.00%, 12/15/25 ^		120			105,521
0.00%, 12/15/26 ^		360			302,590
0.00%, 12/15/32 ^		5			3,068
5.00%, 12/15/24		500			510,978
5.00%, 12/15/25		500			515,471
5.00%, 12/15/26		1,050			1,090,197
5.00%, 12/15/28		885			921,904
5.00%, 12/15/28 (c)		205			211,437
5.00%, 06/15/24		300			305,925
5.00%, 06/15/26 (c)		500			512,194
5.00%, 06/15/26 (c)		395			405,725
5.00%, 06/15/31		1,100			1,140,134
5.25%, 12/15/23		270			274,517
New Jersey Transportation Trust Fund Authority, Series A-1 (RB)
5.00%, 06/15/26 (c)		845			873,735
5.00%, 06/15/26 (c)		110			113,190
New Jersey Transportation Trust Fund Authority, Series AA (RB)
5.00%, 12/15/28 (c)		500			513,642
5.00%, 06/15/23 (c)		490			493,056
5.00%, 06/15/25 (c)		275			281,945
5.25%, 06/15/25 (c)		365			373,142
5.25%, 06/15/25 (c)		100			102,848
5.25%, 06/15/25 (c)		435			446,097
5.25%, 06/15/25 (c)		1,065			1,081,944
New Jersey Transportation Trust Fund Authority, Series BB (RB) 5.00%, 12/15/31 (c)		1,000			1,024,932
New Jersey Transportation Trust Fund Authority, Series C (RB) (AGM) 0.01%, 12/15/29		290			212,135
New Jersey Transportation Trust Fund Authority, Series D (RB)
5.00%, 12/15/23		735			745,302
5.00%, 12/15/24 (c)		1,380			1,391,062
5.25%, 12/15/23		515			523,616
Newark Housing Port Authority, Marine Terminal Redevelopment Project (RB) (NATL) 5.00%, 01/01/32		120			123,708
Pollution Control Financing Authority, Chambers Project, Series A (RB) 5.00%, 12/01/23		35			35,329

	Par (000’s		)	Value
New Jersey (continued)
State of New Jersey, Covid-19 General Emergency, Series A (GO)
5.00%, 06/01/26	$	500		$	524,802
5.00%, 06/01/27		500			530,391
State of New Jersey, Various Purposes (GO)
2.00%, 12/01/29 (c)		2,000			1,668,346
3.00%, 06/01/26		80			77,021
5.00%, 06/01/27		100			106,078
Tobacco Settlement Financing Corp., Series A (RB)
5.00%, 06/01/28 (c)		150			155,092
5.00%, 06/01/28 (c)		640			658,517
5.00%, 06/01/28		655			678,042
					36,021,126
New Mexico: 0.6%
City of Farmington, New Mexico Pollution Control, Public Service Company of San Juan And Four Corners Projects, Series B (RB) 2.15%, 10/01/31 (c)		1,700			1,285,211
City of Farmington, New Mexico Pollution Control, Southern California Edison Company Four Corners Project, Series A (RB) 1.80%, 04/01/29		1,100			911,857
City of Farmington, New Mexico Pollution Control, Southern California Edison Company Four Corners Project, Series B (RB) 1.80%, 04/01/29		500			414,969
					2,612,037
New York: 9.4%
Brooklyn Arena Local Development Corp., Barclays Center, Series A (RB)
5.00%, 01/15/27 (c)		1,800			1,777,249
5.00%, 01/15/27 (c)		100			99,786
5.00%, 01/15/27 (c)		100			99,503
5.00%, 07/15/24		1,750			1,751,283
5.00%, 07/15/26		100			99,959
Build NYC Resource Corp., Brooklyn Navy Yard Cogeneration Partners, L.P. Project (RB) 5.00%, 12/31/28		1,235			1,161,733
Build NYC Resource Corporation, New World Preparatory Chapter School Project, Series A (RB) 4.00%, 06/15/31		275			246,796

	Par (000’s		)	Value
New York (continued)
Build NYC Resource Corporation, Richmond Preparatory Chapter School Project, Series A (RB) 4.00%, 06/01/29 (c)	$	595		$	532,316
County of Suffolk, Series A (GO) (AGM) 5.00%, 02/01/26		250			261,427
County of Suffolk, Series B (GO) (AGM) 5.00%, 10/15/26		250			263,640
Dutchess County Local Development Corp., Health Quest System, Inc., Series B (RB)
5.00%, 07/01/26 (c)		270			274,002
5.00%, 07/01/26 (c)		275			280,045
Huntington Local Development Corp., Gurwin Independent Housing, Inc., Fountaingate Gardens Project (RB) 4.00%, 07/01/27		1,000			944,471
Metropolitan Transportation Authority, Series A-1 (RB) 5.00%, 05/15/26 (c)		250			251,418
Metropolitan Transportation Authority, Series C-1 (RB) 5.00%, 05/15/28 (c)		250			255,065
Metropolitan Transportation Authority, Series D (RB)
5.00%, 11/15/26 (c)		500			501,975
5.00%, 05/15/28 (c)		560			563,766
Metropolitan Transportation Authority, Series D-1 (RB)
5.00%, 11/15/25 (c)		250			250,975
5.00%, 11/15/25 (c)		250			252,656
Monroe County Industrial Development Corp., Rochester regional Health Project, Series A (RB) 5.00%, 12/01/30 (c)		500			510,105
Monroe County Industrial Development Corp., St. Ann’s Community Project (RB) 4.00%, 01/01/26 (c)		1,000			862,689
New York Convention Center Development Corp., Hotel Unit (RB) 5.00%, 11/15/25 (c)		500			515,299
New York State Dormitory Authority, Montefiore Medical Center, Series A (RB)
5.00%, 08/01/24		250			252,794
5.00%, 08/01/28 (c)		2,395			2,299,111
5.00%, 08/01/28 (c)		945			914,997
5.00%, 08/01/28 (c)		1,000			979,766
5.00%, 09/01/27		1,000			998,486

	Par (000’s		)	Value
New York (continued)
New York State Environmental Facilities Corp., Casella Waste Systems, Inc. Project (RB) (FHA 542 (C)) 2.75%, 09/02/25 (c) (p)	$	600		$	558,269
New York Transportation Development Corp., American Airlines, Inc. John F. Kennedy International Airport Project (RB)
2.25%, 08/01/26		815			748,245
5.00%, 11/21/22 (c)		620			617,652
5.00%, 11/21/22 (c)		2,000			1,965,126
5.25%, 08/01/30 (c)		865			858,875
New York Transportation Development Corp., Delta Air Lines, Inc., LaGuardia Airport Terminals C&D Redevelopment Project (RB)
4.00%, 10/01/30		2,000			1,875,513
5.00%, 01/01/28 (c)		785			778,354
5.00%, 01/01/28 (c)		4,405			4,348,417
5.00%, 01/01/28 (c)		780			775,458
New York Transportation Development Corp., John F. Kennedy International Airport Project (RB) 3.00%, 08/01/31		2,000			1,724,354
Niagara Area Development Corp., New York Solid Waste Disposal Facility, Series B (RB) 3.50%, 07/01/23 (c)		1,500			1,443,434
Port Authority of New York & New Jersey, Series 184 (RB)
5.00%, 10/15/25 (c)		500			519,976
5.00%, 09/01/24 (c)		250			256,587
Port Authority of New York & New Jersey, Series 214 (RB) 5.00%, 09/01/29 (c)		250			256,502
Port Authority of New York & New Jersey, Series 217 (RB) 3.00%, 10/01/28		550			506,396
Syracuse Industrial Development Agency, Carousel Center Project, Series A (RB)
5.00%, 01/01/26 (c)		1,130			938,997
5.00%, 01/01/26 (c)		750			642,643
Town of Oyster Bay, Public Improvement, Series B (GO) (AGM) 3.25%, 02/01/26 (c)		665			659,169
Town of Ramapo, Public Improvement, Series A (GO) (FGIC)
4.00%, 05/15/23 (c)		120			111,096
4.12%, 05/15/23 (c)		100			91,492

	Par (000’s		)	Value
New York (continued)
Trust for Cultural Resources of The City of New York, Lincoln Center for the Performing Arts, Inc., Series A (RB) 5.00%, 12/01/30 (c)	$	1,000		$	1,085,258
TSASC, Inc., Tobacco Settlement Bonds, Series A (RB)
5.00%, 06/01/27 (c)		70			72,133
5.00%, 06/01/27		70			72,486
Ulster County Capital Resource Corp., Woodland Pond of New Paltz Project (RB) 4.00%, 09/15/24 (c)		275			255,685
Yonkers Economic Development Corp., Charter School of Educational Excellence Project, Series A (RB) 4.00%, 10/15/29		200			182,313
					38,545,742
North Carolina: 1.0%
North Carolina Eastern Municipal Power Agency, Series B (RB) (NATL) 6.00%, 01/01/25		125			131,801
North Carolina Medical Care Commission, Vedan Health (RB) 5.00%, 06/01/25 (c)		250			259,509
North Carolina Turnpike Authority, Triangle Expressway System (RB) 5.00%, 01/01/25		350			352,121
North Carolina Turnpike Authority, Triangle Expressway System (RB) (AGM) 5.00%, 01/01/29 (c)		500			526,474
North Carolina Turnpike Authority, Triangle Expressway System (RB) (BAM) 5.00%, 02/01/24		3,000			3,036,614
					4,306,519
North Dakota: 0.4%
County of Grand Forks, Red River Biorefinery, LLC Project, Series A (RB) 6.62%, 06/15/26 (c)		3,000			1,766,069
Ohio: 1.8%
American Municipal Power, Inc., Series A (RB) 5.00%, 02/15/29		500			538,110
County of Cuyahoga, Health Care and Independent Living Facilities, Series A (RB) 5.00%, 05/15/29 (c)		1,000			951,851

	Par (000’s		)	Value
Ohio (continued)
County of Cuyahoga, Ohio Hospital, The Metrohealth System (RB)
5.00%, 02/15/25	$	250		$	255,444
5.00%, 02/15/26		50			51,510
5.00%, 02/15/27 (c)		110			112,534
5.00%, 02/15/27		350			360,374
County of Muskingum, Ohio Hospital Facilities, Genesis Healthcare System (RB) 5.00%, 02/15/23 (c)		1,860			1,829,974
Ohio Air Quality Development Authority, American Electric Company Project, Series A (RB) 2.40%, 10/01/29 (c) (p)		500			428,407
Ohio Air Quality Development Authority, Ohio Valley Electric Corp. Project, Series A (RB) 3.25%, 09/01/29		2,000			1,782,165
Southern Ohio Port Authority, Purecycle Project, Series B (RB) (AGM) 10.00%, 12/01/26 (c)		1,000			966,529
					7,276,898
Oklahoma: 0.7%
Oklahoma Development Finance Authority, OU Medicine Project, Series B (RB)
5.00%, 08/15/26		1,000			971,209
5.00%, 08/15/27		250			240,982
Tulsa Municipal Airport Trust, American Airlines, Inc. (RB) 5.00%, 06/01/25 (c) (p)		1,500			1,494,921
					2,707,112
Oregon: 0.1%
Oregon State Business Development Commission, Red Rock Biofuels LLC Clean Energy Project (RB) 11.50%, 04/01/26 (c) (d) *		500			30,000
Yamhill County Hospital Authority, Friendsview Retirement Community Oregon, Series A (RB) 5.00%, 11/15/24 (c)		325			300,437
					330,437
Pennsylvania: 4.8%
Allentown Neighborhood Improvement Zone Development Authority (RB)
5.00%, 05/01/27		1,250			1,216,918
5.00%, 05/01/28		1,665			1,606,105
5.00%, 05/01/28		875			846,747
Berks County Industrial Development Authority, Tower Health Project (RB) 4.00%, 11/01/27 (c)		200			148,332

	Par (000’s		)	Value
Pennsylvania (continued)
5.00%, 11/01/24	$	1,000		$	955,887
5.00%, 11/01/25		1,000			933,134
5.00%, 11/01/26		400			365,362
5.00%, 11/01/27 (c)		1,065			884,436
Berks County Municipal Authority, Tower Health Project, Series A (RB)
5.00%, 02/01/30		800			675,691
5.00%, 02/01/31		425			350,155
Berks County Municipal Authority, Tower Health Project, Series B-2 (RB) 5.00%, 02/01/27 (c) (p)		1,500			1,341,927
Berks County Municipal Authority, Tower Health Project, Series B-3 (RB) 5.00%, 02/01/30 (c) (p)		500			418,324
City of Philadelphia, Gas Works, Series 13 (RB) 5.00%, 08/01/25		80			82,649
County of Albemarle, Industrial Development Authority Environmental Improvement, United States Steel Corp. Project (RB) 4.88%, 11/01/24		1,500			1,491,702
Dauphin County General Authority University, Harrisburg University of Science and Technology Project (RB)
4.25%, 10/15/26		1,750			1,674,980
5.00%, 10/15/27		250			244,849
5.00%, 10/15/28 (c)		500			476,317
Doylestown Hospital Authority, Series A (RB) (SBG) 5.00%, 07/01/23 (c)		250			250,258
Fulton County Industrial Development Authority, Medical Center Project (RB) 4.00%, 07/01/26 (c)		775			722,061
Geisinger Authority Health System, Series C (RB) 5.00%, 04/01/30 (c) (p)		1,000			1,049,184
Montgomery County Industrial Development Authority, Whitemarsh Continuing Care Retirement Community Project (RB) 4.00%, 01/01/25		1,055			1,027,454
Pennsylvania Economic Development Financing Authority, The Pennsylvania Rapid Bridge Replacement Project (RB)
5.00%, 12/31/23		125			126,346
5.00%, 06/30/26		130			130,924

	Par (000’s		)	Value
Pennsylvania (continued)
Pennsylvania Turnpike Commission, Series A-2 (RB) 5.00%, 06/01/26 (c)	$	100		$	103,672
Pennsylvania Turnpike Commission, Series E (RB) 6.00%, 12/01/27 (c)		645			715,473
Philadelphia Authority, Industrial Development, Electrical and Technology Charter School Project, Series A (RB) 4.00%, 06/01/31		575			523,975
Philadelphia Gas Works Co., Fourteenth Series (RB) 5.00%, 10/01/26		100			104,588
State Public School Building Authority, School District of Philadelphia Project, Series A (RB) (SAW) 5.00%, 12/01/26 (c)		200			206,684
Susquehanna Area Regional Airport Authority, Series A (RB) 5.00%, 01/01/23 (c)		500			500,095
The Hospitals and Higher Education, Facilities Authority of Philadelphia (RB)
5.00%, 07/01/26		115			117,797
5.00%, 07/01/27 (c)		275			282,122
					19,574,148
Puerto Rico: 5.3%
Puerto Rico Commonwealth Aqueduct and Sewer Authority, Series A (RB)
5.00%, 07/01/30		3,000			2,874,424
6.12%, 07/01/24		410			415,452
Puerto Rico Commonwealth Aqueduct and Sewer Authority, Series B (RB)
5.00%, 07/01/28		1,000			975,492
5.00%, 07/01/31 (c)		2,000			1,867,875
Puerto Rico Commonwealth, Series A-1 (GO) (BAM-TCRS)
4.00%, 07/01/31 (c)		2,000			1,696,580
5.38%, 07/01/25		3,638			3,638,721
5.62%, 07/01/27		1,000			1,008,266
5.62%, 07/01/29		3,000			3,022,331
5.75%, 07/01/31		2,000			2,016,102
Puerto Rico Electric Power Authority, Series UU (RB) (AGM) 5.00%, 12/01/22 (c)		250			253,659
Puerto Rico Highway and Transportation Authority, Series CC (RB) (AGM) 5.25%, 07/01/32		1,105			1,086,041

	Par (000’s		)	Value
Puerto Rico (continued)
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Series A (RB) 6.62%, 12/01/22 (c)	$	100		$	103,564
Puerto Rico Municipal Finance Agency, Series A (RB) (AGM) 5.00%, 12/01/22 (c)		780			791,111
Puerto Rico Sales Tax Financing Corp., Series A-1 (RB) 0.01%, 07/01/28 (c)		2,000			1,223,026
Puerto Rico Sales Tax Financing Corp., Series A-1 (RB) (AGM) 0.01%, 07/01/28 (c)		1,308			908,890
					21,881,534
Rhode Island: 0.4%
Rhode Island Commerce Corp., Department of Transportation, Series A (RB)
5.00%, 05/15/30 (c)		250			265,878
5.00%, 05/15/30 (c)		400			430,701
Rhode Island Commerce Corp., Department of Transportation, Series B (RB) 5.00%, 06/15/26		155			162,439
Rhode Island Health and Educational Building Corp., Care New England, Series B (RB) 5.00%, 09/01/26 (c)		1,000			906,454
					1,765,472
South Carolina: 0.8%
South Carolina Jobs-Economic Development Authority, High Point Academy Project, Series A (RB) 5.00%, 12/15/26 (c)		600			595,302
South Carolina Jobs-Economic Development Authority, Solid Waste Disposal, Series A (RB)
5.25%, 07/01/25 (c)		755			785,418
6.00%, 06/01/28 (c)		1,000			789,657
South Carolina Jobs-Economic Development Authority, The Woodlands at Furman (RB) 4.00%, 11/15/24 (c)		360			340,457
South Carolina Public Service Authority, Series A (RB)
5.00%, 06/01/25 (c)		290			297,598
5.00%, 06/01/26 (c)		525			535,905
					3,344,337
Tennessee: 0.9%
Blount County, Health and Educational Facilities Board, Series A (RB) 5.00%, 01/01/25 (c)		500			391,661

	Par (000’s		)	Value
Tennessee (continued)
Memphis-Shelby County Industrial Development Board, Graceland Project, Series A (TA) 4.75%, 07/01/27	$	105		$	85,564
Tennergy Corporation Gas Supply Series A (RB) 4.00%, 09/01/28 (c) (p)		1,750			1,643,364
Tennessee Energy Acquisition Corp., Commodity Project, Series A (RB) 5.00%, 11/01/31 (c) (p)		1,000			974,976
Tennessee Energy Acquisition Corp., Gas Project, Series A (RB) 5.25%, 09/01/26		525			530,816
					3,626,381
Texas: 7.6%
Austin Convention Enterprises, Inc., Convention Center Hotel, First Tier, Series A (RB)
5.00%, 01/01/27 (c)		1,200			1,180,343
5.00%, 01/01/27 (c)		1,155			1,144,000
Austin Convention Enterprises, Inc., Convention Center Hotel, First Tier, Series A (RB) (SAW) 5.00%, 01/01/26		775			777,747
Austin Convention Enterprises, Inc., Convention Center Hotel, Second Tier, Series A (RB) 5.00%, 01/01/27 (c)		500			479,834
Board of Regents of the University of Texas System, Series A (RB) (AGM) 5.00%, 08/15/29 (c)		50			54,191
Calhoun County Navigation Industrial Development Authority, Max Midstream Texas LLC Project, Series A (RB) 3.62%, 07/01/24 (c)		2,465			2,183,942
Central Texas Regional Mobility Authority, Series B (RB) 5.00%, 01/01/31 (c)		750			789,444
Central Texas Regional Mobility Authority, Series C (RB) 5.00%, 01/01/26 (c)		2,000			2,052,630
Central Texas Turnpike System, Series C (RB) 5.00%, 08/15/24		120			122,339
City of Austin, Texas Airport System (RB)
5.00%, 11/15/24 (c)		395			399,581
5.00%, 11/15/25		625			640,835
City of Houston, Airport System, Series C (RB) 5.00%, 07/01/27		180			185,637

	Par (000’s		)	Value
Texas (continued)
City of Houston, Airport System, United Airlines, Inc. Terminal E Project (RB) 5.00%, 07/01/24 (c)	$	2,250		$	2,221,036
City of Houston, Airport System, United Airlines, Inc. Terminal E Project, Series A (RB) 5.00%, 07/01/27		250			248,650
City of Houston, Continental Airlines, Inc., Terminal Improvement Projects (RB) 6.50%, 12/01/22 (c)		200			199,991
City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Series C (RB) 5.00%, 07/15/27		1,000			994,552
City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Technical Operations Center Project (RB) 5.00%, 07/15/28		1,500			1,485,284
City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Terminal E Project (RB) 4.75%, 07/01/24		545			542,650
City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Terminal Improvement Projects, Series B-1 (RB) 5.00%, 07/15/25 (c)		1,000			986,115
City of Houston, Texas Airport System Special Facilities, United Airlines, Inc., Terminal Improvement Projects, Series B-2 (RB) 5.00%, 07/15/27		2,750			2,735,019
Clifton Higher Education Finance Corp., Series A (RB)
4.62%, 08/15/25		60			59,356
5.12%, 08/15/25 (c)		200			196,276
6.00%, 03/01/24 (c)		1,345			1,359,063
Clifton Higher Education Finance Corp., Series D (RB) 5.25%, 08/15/25 (c)		500			501,113
Gulf Coast Industrial Development Authority, CITGO Petroleum Corp. Project (RB) 4.88%, 12/01/22 (c)		335			327,663
Harris County, Houston Sports Authority, Junior Lien, Series H (RB) (NATL) 0.01%, 11/15/29		315			222,437

	Par (000’s		)	Value
Texas (continued)
Love Field Airport Modernization Corp., Southwest Airlines Co. (RB) 5.00%, 12/01/22 (c)	$	1,000		$	1,000,627
Lower Colorado River Authority, LCRA Transmission Services Corp. Project (RB)
5.00%, 05/15/25 (c)		335			345,624
5.00%, 05/15/29 (c)		200			212,527
Matagorda County District No. 1, Pollution Control, Series B (RB) (AMBAC) 4.55%, 05/01/30		105			103,254
Matagorda County Navigation District No 1 (RB) 4.00%, 06/03/23 (c)		2,100			2,003,151
Mesquite Health Facility Development Corp., Christian Care Centers, Inc. Project (RB) (NATL) 5.00%, 02/15/26 (c) (d) *		300			249,000
Mission Economic Development Corp., Senior Lien, Natgasoline Project (RB) 4.62%, 11/21/22 (c)		1,000			942,988
New Hope Cultural Education Facilities Finance Corp., Carillon Lifecare Community Project (RB) 4.00%, 07/01/24 (c)		1,000			862,032
New Hope Cultural Education Facilities Finance Corp., Cumberland Academy, Series A (RB) 4.00%, 08/15/25 (c)		1,000			910,706
New Hope Cultural Education Facilities Finance Corp., Legacy Preparatory Charter Academy, Series A (RB) 5.25%, 02/15/23 (c)		185			184,907
New Hope Cultural Education Facilities Finance Corp., NCCD-College Station Properties LLC, Series A (RB)
5.00%, 07/01/23		100			85,000
5.00%, 07/01/24		100			85,000
North Texas Tollway Authority, First Tier, Series D (RB) (AGC) 0.01%, 01/01/29		405			308,221
North Texas Tollway Authority, Second Tier, Series B (RB) 5.00%, 01/01/26 (c)		185			193,671
Port Beaumont Navigation District, Texas Dock & Wharf Facility, Series A (RB) 2.62%, 07/01/23 (c)		550			421,903
SA Energy Acquisition Public Facility Corp. (RB) 5.50%, 08/01/24		55			55,804

	Par (000’s		)	Value
Texas (continued)
5.50%, 08/01/25	$	125		$	127,673
5.50%, 08/01/27		110			113,637
Tarrant County Cultural Education Facilities Finance Corp., MRC Stevenson Oaks Project, Series A (RB) 6.25%, 11/15/27 (c)		250			236,472
Tarrant County Cultural Education Facilities Finance Corp., Retirement Facility (RB) 4.00%, 05/15/24 (c)		275			259,476
Texas Municipal Gas Acquisition and Supply Corp. I, Senior Lien, Series A (RB)
5.25%, 12/15/23		15			15,208
5.25%, 12/15/24		60			61,313
5.25%, 12/15/25		100			102,933
Texas Municipal Gas Acquisition and Supply Corp. III (RB) 5.00%, 12/15/28		350			354,788
					31,325,643
Utah: 0.4%
Utah Charter School Finance Authority, Freedom Academy Foundation Project (RB) 4.50%, 06/15/27		800			767,709
Utah Salt Lake City, International Airport, Series A (RB) 5.00%, 07/01/31		1,000			1,023,426
					1,791,135
Virgin Islands: 0.7%
Matching Fund Special Purpose Securitization Corp., Virgin Island, Series A (RB) 5.00%, 10/01/32		1,000			1,007,501
Virgin Islands Public Finance Authority, Virgin Islands Gross Receipts Taxes, Series C (RB)
5.00%, 10/01/24		200			197,855
5.00%, 10/01/24 (c)		1,000			940,855
Virgin Islands Water & Power Authority, Series B (RB)
5.00%, 12/01/22 (c)		150			147,213
5.00%, 12/01/22 (c)		75			72,063
5.00%, 12/01/22 (c)		620			571,056
5.00%, 12/01/22 (c)		55			52,049
					2,988,592
Virginia: 1.4%
Amherst Industrial Development Authority, Educational Facilities, Sweet Briar College (RB) 4.75%, 12/01/22 (c)		140			128,770
Chesapeake Bay Bridge and Tunnel District, First Tier (RB) 5.00%, 11/01/23		500			505,666

	Par (000’s		)	Value
Virginia (continued)
County of Albemarle, Virginia Economic Development Authority, Series A (RB) 4.62%, 01/01/23 (c)	$	800		$	801,643
Peninsula Town Center Community Development Authority (RB) 4.50%, 09/01/27 (c)		325			298,283
Roanoke County Economic Development Authority, Series A (RB) 4.75%, 09/01/26 (c)		1,835			1,505,354
Roanoke Economic Development Authority, Residential Care Facility (RB) 4.30%, 09/01/27 (c)		1,525			1,175,534
Virginia College Building Authority, Marymount University Project, Series B (RB) 5.25%, 07/01/25 (c)		710			710,121
Virginia Small Business Financing Authority, Elizabeth River Crossing OPCO LLC Project (RB) 4.00%, 01/01/31		635			597,660
					5,723,031
Washington: 1.3%
King County, Public Hospital District No. 4, Snoqualmie Valley Hospital, Series A (RB) 5.00%, 12/01/25		140			137,434
Klickitat County, Public Hospital District No. 2 (RB) 4.00%, 12/01/27		880			818,872
Washington Health Care Facilities Authority, CommonSpirit Health, Series B-2 (RB) 5.00%, 08/01/25 (c) (p)		480			487,604
Washington State, Convention Center Public Facilities District (RB) 4.00%, 07/01/31		2,250			1,945,480
Washington State, Convention Center Public Facilities District, Series B (RB) 4.00%, 07/01/31 (c)		250			225,028
Washington State, Convention Center Public Facilities District, Series B (RB) (AGM) 4.00%, 07/01/31 (c)		1,000			914,076
Washington State, Housing Finance Commission, Presbyterian Retirement Communities Northwest Projects, Series A (RB)
3.75%, 07/01/26		185			173,385
4.00%, 01/01/25 (c)		500			469,482

	Par (000’s		)	Value
Washington (continued)
5.00%, 01/01/25 (c)	$	365		$	332,431
					5,503,792
West Virginia: 0.4%
County of Ohio, Fort Henry Centre Tax Increment Financing District No. 1, The Highlands Project (TA) 4.75%, 12/01/22 (c)		680			645,573
West Virginia Economic Development Authority, Arch Resources Project (RB) (SAW) 4.12%, 07/01/25 (c) (p)		1,000			965,575
West Virginia Hospital Finance Authority, West Virginia University Health System, Series A (RB) 5.00%, 06/01/26		150			156,414
					1,767,562
Wisconsin: 1.5%
Public Finance Authority, Celanese Corp., Series C (RB) 4.30%, 05/01/26 (c)		1,000			965,183
Public Finance Authority, Grand Hyatt San Antonio Hotel Acquisition Project, Series A (RB) 3.75%, 02/01/32		850			738,464

	Par (000’s		)	Value
Wisconsin (continued)
Public Finance Authority, Living Community First Mortgage (RB) 4.25%, 05/01/27 (c)	$	455		$	397,266
Public Finance Authority, North Carolina Charter Educational Foundation Project, Series A (RB) 4.10%, 06/15/26		550			518,295
Public Finance Authority, Penick Village (RB) 4.00%, 09/01/26 (c)		505			436,463
Public Finance Authority, Phoenix Academy Project, Series A (RB) 5.00%, 06/15/24 (c)		150			140,452
Public Finance Authority, Prime Healthcare Foundation, Inc., Series A (RB) 5.00%, 12/01/27		1,765			1,774,300
Public Finance Authority, Waste Management, Inc. Project, Series A-1 (RB) 2.62%, 11/01/25		1,050			992,552
Wisconsin Health and Educational Facilities Authority, American Baptist Homes of the Midwest (RB) 5.00%, 08/01/24 (c)		250			233,030
					6,196,005
Total Municipal Bonds: 98.0% (Cost: $452,391,259)					402,283,889
Other assets less liabilities: 2.0%					8,331,650
NET ASSETS: 100.0%				$	410,615,539

The summary of inputs used to value the Fund’s investments as of October 31, 2022 is as follows:

	Par (000’s		)	Value
MUNICIPAL BONDS: 98.3%
Alabama: 2.9%
Alabama Federal Aid Highway Finance Authority, Series A (RB) 5.00%, 09/01/27 (c)	$	985		$	1,059,432
Alabama Federal Aid Highway Finance Authority, Series B (RB) 5.00%, 09/01/23		125			126,863
Alabama Public School And College Authority, Series A (RB) 5.00%, 11/01/22		750			750,000
Black Belt Energy Gas District Gas, Project No. 4, Series A (RB) 4.00%, 12/01/25 (c) (p)		1,000			969,878
Black Belt Energy Gas District, Series A (RB) (SAW)
4.00%, 12/01/23 (c) (p)		470			467,249
5.00%, 12/01/23		860			864,863
Industrial Development Board of the City of Mobile, Alabama Power Company Barry Plant Project, Series A (RB) 1.00%, 06/26/25 (p)		1,000			929,628
Jefferson County, Series A (GO)
5.00%, 04/01/24		290			296,789
5.00%, 04/01/25		340			351,832
Lower Alabama Gas District, Project No. 2 (RB) (SAW) 4.00%, 12/01/25 (c) (p)		1,500			1,456,947
Southeast Alabama Gas Supply District, Series A (RB) 4.00%, 06/01/24 (c) (p)		250			246,620
Tuscaloosa City Board of Education (RB)
5.00%, 08/01/26 (c)		1,055			1,113,274
5.00%, 08/01/26 (c)		825			870,569
					9,503,944
Arizona: 1.0%
City of Phoenix, Civic Improvement Corp., Junior Lien Airport, Series D (RB) 5.00%, 07/01/23		250			252,821
City of Phoenix, Civic Improvement Corp., Senior Lien Airport, Series B (RB) 5.00%, 07/01/24		200			205,317
Maricopa County Industrial Development Authority, Banner Health, Series A (RB) 5.00%, 01/01/26		700			729,973
Maricopa County Special Health Care District, Series C (GO) 5.00%, 07/01/24		250			256,647

	Par (000’s		)	Value
Arizona (continued)
Maricopa County Special Health Care District, Series D (GO) 5.00%, 07/01/23	$	500		$	505,610
Pima County (GO) 4.00%, 07/01/23		310			311,726
Salt River Project Agricultural Improvement & Power District, Series A (RB)
5.00%, 01/01/26		500			525,693
5.00%, 01/01/27		500			532,941
					3,320,728
California: 16.2%
Bay Area Toll Authority, San Francisco Bay Area, Series A (RB)
2.00%, 04/01/28 (c) (p)		1,000			894,654
2.95%, 04/01/26 (c) (p)		1,205			1,161,624
Bay Area Toll Authority, Series B (RB) 2.85%, 04/01/25 (c) (p)		395			384,168
Bay Area Toll Authority, Series G (RB) 2.00%, 04/01/24 (c) (p)		725			702,835
California Community Choice Financing Authority, Clean Energy, Series A-1 (RB) 4.00%, 08/01/28 (c) (p)		500			480,473
California Health Facilities Financing Authority, Providence St. Joseph Health, Series B-2 (RB) 4.00%, 10/01/24 (c) (p)		500			504,831
California Health Facilities Financing Authority, Providence St. Joseph Health, Series B-3 (RB) 2.00%, 10/01/25 (c) (p)		335			320,372
California Health Facilities Financing Authority, Providence St. Joseph Health, Series C (RB) 5.00%, 10/01/25 (p)		585			609,730
California Infrastructure And Economic Development Bank, Series B-2 (RB) 3.00%, 10/01/26 (c) (p)		500			492,387
California State Public Works Board, Various Capital Projects, Series B (RB) 5.00%, 10/01/26		885			939,844
California State Public Works Board, Various Capital Projects, Series D (RB) 5.00%, 09/01/26		500			530,384

	Par (000’s		)	Value
California (continued)
California Statewide Communities Development Authority, Cottage Health System Obligated Group (RB) 5.00%, 11/01/24 (c)	$	900		$	930,109
Chino Basin Regional Financing Authority, Series B (RB) 4.00%, 08/01/25 (c)		405			412,985
City & County of San Francisco, Series B (CP)
5.00%, 10/01/25 (c)		430			450,140
5.00%, 04/01/25		100			103,951
City & County of San Francisco, Series R-1 (GO)
4.00%, 06/15/23 (c)		1,000			1,004,232
5.00%, 06/15/25		250			261,877
City of Los Angeles, Department of Airports, Los Angeles International Airport, Series B (RB) 5.00%, 05/15/26		500			528,454
County of Sacramento, Airport System, Series B (RB) 5.00%, 07/01/25		240			250,268
Foothill-Eastern Transportation Corridor Agency, Series A (RB) 0.00%, 01/01/27 ^		500			433,754
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement, Series A (RB)
5.00%, 06/01/23 (c)		500			505,557
5.00%, 06/01/25 (c)		1,000			1,043,820
5.00%, 06/01/25 (c)		1,870			1,951,944
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement, Series A (RB) (AGM) 0.00%, 06/01/26 ^		1,000			880,607
Grossmont-Cuyamaca Community College District (GO) 5.00%, 08/01/24		265			272,598
Los Angeles Community College District/CA, Series C (GO) 5.00%, 08/01/26		500			532,875
Los Angeles Department of Water & Power, Series B (RB)
5.00%, 07/01/23		550			556,970
5.00%, 07/01/24		250			257,548
Los Angeles Department of Water & Power, Series C (RB) 5.00%, 07/01/24		250			257,548
Los Angeles Department of Water and Power, Series B (RB) 5.00%, 06/01/25 (c)		295			308,140

	Par (000’s		)	Value
California (continued)
Los Angeles Unified School District, Series A (GO)
5.00%, 07/01/24	$	875		$	902,138
5.00%, 07/01/26		800			849,545
Los Angeles Unified School District, Series B (GO) 5.00%, 07/01/23		130			131,690
Los Angeles Unified School District, Series C (GO) 5.00%, 07/01/25		1,250			1,308,361
Metropolitan Water District of Southern California, Series B (RB)
5.00%, 07/01/23 (c)		450			455,555
5.00%, 07/01/24 (c)		1,000			1,029,473
Northern California Energy Authority, Series A (RB)
4.00%, 07/01/24 (p)		1,500			1,487,623
5.00%, 07/01/24		275			277,510
Oakland Unified School District, Series A (GO)
5.00%, 08/01/23		350			354,700
5.00%, 08/01/25 (c)		1,000			1,046,434
Orange County Transportation Authority, I-405 Improvement Project (RB)
4.00%, 10/15/24		675			684,181
5.00%, 10/15/24		750			775,285
Orange County Water District, Series A (CP) 2.00%, 02/15/23 (c)		205			202,460
Public Utilities Commission of the City & County of San Francisco, Wastewater Revenue, Series B (RB) 2.12%, 10/01/23 (c) (p)		930			917,070
Regents of The University Of California, Limited Project, Series I (RB) 5.00%, 05/15/23		485			489,894
Riverside County Transportation Commission, Series B (RB) 5.00%, 06/01/25		250			261,271
Sacramento Municipal Utility District, Series B (RB) 5.00%, 10/15/25 (c) (p)		485			501,613
San Bernardino Community College District, Series A (GO) 4.00%, 08/16/27 (c)		540			559,284
San Bernardino County, Capital Facilities, Project B (CP) 6.88%, 08/01/24		1,035			1,100,272
San Bernardino County, Series A (CP) 5.00%, 10/01/26		345			365,859
San Joaquin Hills, Agency Toll Road (RB) 0.00%, 01/01/24 ^		1,000			962,199

	Par (000’s		)	Value
California (continued)
0.00%, 01/01/25 ^	$	500		$	464,733
Southern California Public Power Authority, Series C (RB) 5.00%, 01/01/25 (c)		500			518,744
Southern California Public Power Authority. Windy Point/Windy Flats Project (RB) 5.00%, 01/01/24 (c)		725			740,600
Southwestern Community College District, Series D (GO) 5.00%, 08/01/25 (c)		500			524,965
State of California Department of Water Resources (RB) 5.00%, 12/01/26		500			534,924
State of California, Various Purpose (GO)
3.00%, 03/01/26		1,000			983,567
4.00%, 10/01/25		600			612,022
4.00%, 10/01/27		1,100			1,132,808
4.00%, 11/01/24		300			304,395
4.00%, 03/01/24		500			505,505
5.00%, 10/01/23		250			254,208
5.00%, 10/01/24		100			103,365
5.00%, 10/01/24		555			573,675
5.00%, 10/01/25		835			876,210
5.00%, 10/01/27		1,000			1,075,778
5.00%, 10/01/27		500			537,889
5.00%, 10/01/27		530			570,162
5.00%, 11/01/23		525			534,613
5.00%, 11/01/25		500			525,343
5.00%, 11/01/26		915			974,573
5.00%, 12/01/25		460			483,901
5.00%, 12/01/27		500			538,997
5.00%, 04/01/24		300			307,609
5.00%, 04/01/25		300			312,419
5.00%, 04/01/27		750			801,730
5.00%, 08/01/24		325			335,044
5.00%, 08/01/25		1,500			1,570,054
5.00%, 08/01/26		295			313,108
5.00%, 08/01/27		1,305			1,400,930
5.00%, 09/01/23		1,000			1,015,397
5.00%, 09/01/25		300			314,408
5.00%, 09/01/26		1,000			1,062,620
State Public Works Board, Series C (RB) 5.00%, 11/01/27		525			565,634
					53,997,026
Colorado: 1.2%
City of Colorado Springs, Utilities System, Series B (RB) 5.00%, 11/15/25		500			524,753
Colorado Health Facilities Authority, Sanford, Series A (RB) 5.00%, 11/01/25		500			516,093
Douglas County School District No. RE-1 (GO) (SAW) 5.00%, 12/15/24		1,000			1,035,355

	Par (000’s		)	Value
Colorado (continued)
Larimer County School District No. R-1 (GO) (SAW) 5.00%, 12/15/23	$	450		$	458,790
State of Colorado, Series A (CP) 5.00%, 12/15/26		500			531,639
State of Colorado, Series K (CP) 5.00%, 03/15/26		385			404,076
University of Colorado, Series A-2 (RB) 4.00%, 06/01/28 (c)		500			515,419
					3,986,125
Connecticut: 2.5%
Connecticut Housing Finance Authority, Housing Mortgage Program, Sereies B-5 (RB) 0.45%, 05/15/24 (c) (p)		250			236,589
Connecticut State Health and Educational Facilities Authority, Yale University Issue, Series C-2 (RB) 5.00%, 02/01/23 (p)		390			391,765
State of Connecticut, Health and Educational Facilities Authority, Stamford Hospital Issue, Series L-1 (RB) 4.00%, 07/01/27		500			484,251
State of Connecticut, Series A (GO)
5.00%, 04/15/23		265			267,244
5.00%, 04/15/23		375			378,176
State of Connecticut, Series B (GO)
4.00%, 05/15/23		375			376,766
5.00%, 01/15/23		250			250,950
State of Connecticut, Series C (GO) 5.00%, 06/15/26		300			316,589
State of Connecticut, Series D (GO)
5.00%, 04/15/26		1,040			1,095,130
5.00%, 08/15/23		300			304,294
State of Connecticut, Series E (GO) 5.00%, 09/15/25		270			282,303
State of Connecticut, Special Tax Obligation, Series A (GO) 5.00%, 04/15/23		375			378,176
State of Connecticut, Special Tax Obligation, Series A (RB) 5.00%, 01/01/23		300			300,862
State of Connecticut, Special Tax Obligation, Series A (ST) 5.00%, 05/01/28		600			646,931
State of Connecticut, Special Tax Obligation, Series B (RB) 5.00%, 10/01/23		200			203,077
State of Connecticut, State Revolving Fund, Series B (RB) 5.00%, 06/01/26		275			290,824

	Par (000’s		)	Value
Connecticut (continued)
State of Connecticut, Transportation Infrastructure Purposes, Series A (ST) 5.00%, 05/01/26	$	1,015		$	1,070,137
University of Connecticut, Series A (RB)
5.00%, 04/15/24		575			588,979
5.00%, 04/15/26		550			578,422
					8,441,465
Delaware: 0.4%
Delaware State Economic Development Authority, NRG Energy Project, Series A (RB) 1.25%, 10/01/25 (c) (p)		500			442,860
Delaware Transportation Authority (RB) 5.00%, 07/01/26		500			529,368
State of Delaware, Series A (GO) 5.00%, 10/01/25		410			430,118
					1,402,346
District of Columbia: 1.2%
District of Columbia, Series B (GO) 5.00%, 06/01/25		120			125,198
District of Columbia, Series C (RB) 5.00%, 10/01/26		785			833,350
District of Columbia, Series D (GO) 5.00%, 06/01/25		315			328,644
District of Columbia, Series E (GO) 5.00%, 06/01/25		500			521,658
Metropolitan Washington Airports Authority, Dulles Toll Road (RB) (AGC) 6.50%, 10/01/26 (c)		1,000			1,112,344
Washington Metropolitan Area Transit Authority, Series A-1 (RB)
5.00%, 07/01/24		225			231,277
5.00%, 07/01/25		100			104,278
5.00%, 07/01/27		200			214,209
Washington Metropolitan Area Transit Authority, Series B (RB)
5.00%, 07/01/25		300			312,835
5.00%, 07/01/26		300			317,196
					4,100,989
Florida: 2.0%
Central Florida Expressway Authority (RB) (AGM) 5.00%, 07/01/27		500			533,074
Central Florida Expressway Authority, Series B (RB) 5.00%, 07/01/26		300			315,502

	Par (000’s		)	Value
Florida (continued)
City of Orlando, Senior Tourist Development Tax, 6th Cent Contract Payments, Series A (RB) (AGM) 5.00%, 11/01/26	$	500		$	527,561
Florida Department of Management Services, Series A (CP) 5.00%, 11/01/26		250			264,546
Florida State Board of Education, Public Education Capital Outlay, Series C (GO) 5.00%, 06/01/24		1,000			1,027,699
Florida State Department of Transportation, Turnpike Enterprise, Series A (RB) 5.00%, 07/01/25 (c)		1,155			1,202,318
Miami-Dade County, Florida Water And Sewer System Revenue Refunding Bonds, Series B (RB) 5.00%, 10/01/27		500			530,203
School District of Broward County, Series C (CP) 5.00%, 07/01/24		340			348,318
State of Florida, Board of Education, Lottery Revenue, Series A (RB)
5.00%, 07/01/23		450			455,257
5.00%, 07/01/24		650			668,026
State of Florida, Department of Management Services, Series A (RB) 5.00%, 09/01/23		180			182,682
State of Florida, Department Of Management Services, Series A (RB) 5.00%, 09/01/25		750			783,742
					6,838,928
Georgia: 3.2%
Burke County Development Authority, Series F (RB) 3.00%, 02/01/23 (p)		500			498,374
City of Atlanta, Water and Wastewater, Series A (RB) 5.00%, 11/01/24		500			516,825
Main Street Natural Gas, Inc., Series A (RB)
4.00%, 09/01/23 (c) (p)		500			498,973
4.00%, 09/01/27 (c) (p)		1,250			1,208,104
Main Street Natural Gas, Inc., Series B (RB) 4.00%, 12/02/24 (c) (p)		1,500			1,490,866
Main Street Natural Gas, Inc., Series C (RB) 4.00%, 09/01/26 (c) (p)		2,000			1,920,445
State of Georgia, Series A (GO)
5.00%, 02/01/23		160			160,780
5.00%, 02/01/25		250			259,669

	Par (000’s		)	Value
Georgia (continued)
5.00%, 02/01/26	$	595		$	627,436
5.00%, 08/01/25		350			366,346
5.00%, 08/01/26		700			743,477
State of Georgia, Series C (GO)
5.00%, 07/01/24		250			257,302
5.00%, 07/01/26		1,000			1,060,865
State of Georgia, Series E (GO) 5.00%, 12/01/24		1,100			1,139,573
					10,749,035
Guam: 0.3%
Guam Government, Waterworks Authority, Water and Wastewater System (RB) 5.50%, 07/01/23 (c)		1,000			1,015,002
Hawaii: 0.5%
City & County of Honolulu, Rail Transit Project, Series E (GO)
5.00%, 03/01/26		785			827,279
5.00%, 03/01/27		500			533,069
State of Hawaii, Series FN (GO) 5.00%, 10/01/24		110			113,619
State of Hawaii, Series FT (GO) 5.00%, 01/01/23		100			100,306
					1,574,273
Illinois: 5.0%
Chicago O’Hare International Airport, Series B (RB) (AGM) 5.00%, 01/01/26		500			520,041
Chicago O’Hare International Airport, Series C (RB)
5.00%, 01/01/23		650			651,911
5.00%, 01/01/24		115			117,278
5.00%, 01/01/26		315			327,626
Chicago Park District, Series A (GO) (NATL) 5.50%, 01/01/24 (c)		500			513,022
Chicago Transit Authority, Federal Transit Administration Section 5307 Urbanized Area Formula (RB)
5.00%, 06/01/23		350			353,042
5.00%, 06/01/25		340			346,694
City of Chicago, Series A (GO) 5.00%, 01/01/27		500			499,652
Community College District No. 512, Counties of Cook, Kane, Lake, and McHenry, Series B (GO) 5.00%, 12/01/25		200			209,434
Cook County, Series A (GO) 5.00%, 11/15/26		300			315,061
County of Cook, Series A (GO) 5.00%, 11/15/22		1,000			1,000,586
Illinois Finance Authority, Clean Water Initiative (RB)
4.00%, 01/01/23		310			310,299
5.00%, 01/01/23		250			250,644
5.00%, 01/01/24		155			157,874

	Par (000’s		)	Value
Illinois (continued)
5.00%, 01/01/25	$	600		$	621,247
5.00%, 01/01/28		500			537,078
5.00%, 07/01/27		685			733,054
Illinois Finance Authority, Clean Water Initiative (RB) (AGM) 5.00%, 07/01/24		500			512,967
Illinois Finance Authority, Northwestern Memorial Healthcare, Series A (RB) 5.00%, 07/15/23		250			252,872
Illinois Finance Authority, Series A (RB) (BAM) 5.00%, 08/15/25		1,255			1,299,794
Illinois State Toll Highway Authority, Series A (RB) 5.00%, 01/01/27		415			439,356
Illinois State Toll Highway Authority, Series C (RB) 5.00%, 01/01/27		650			688,148
Regional Transportation Authority of Illinois, Series A (RB) 5.00%, 07/01/24		495			506,949
Sales Tax Securitization Corp., Series A (RB)
5.00%, 01/01/23		370			371,082
5.00%, 01/01/24		550			560,829
State of Illinois (GO) 5.00%, 02/01/23		350			350,907
State of Illinois (GO) (AGC)
5.50%, 05/01/24		250			253,995
5.50%, 05/01/25		335			341,640
State of Illinois, Series B (GO)
5.00%, 12/01/24		130			131,118
5.00%, 09/01/25		400			403,226
State of Illinois, Series D (GO)
5.00%, 11/01/22		470			470,000
5.00%, 11/01/23		500			504,005
5.00%, 11/01/25		1,345			1,355,779
5.00%, 11/01/26		800			805,753
					16,712,963
Indiana: 1.1%
City of Indianapolis, Water System, Series A (RB) 5.00%, 10/01/25		500			522,266
Indiana Finance Authority Hospital, Series 2012A, Community Health Network Project (RB) 5.00%, 05/01/23 (c)		1,000			1,008,949
Indiana Finance Authority, Indiana University Health, Series C (RB) 5.00%, 12/01/23		500			508,752
Indiana Finance Authority, Series C (RB)
5.00%, 12/01/24		575			595,804
5.00%, 12/01/25		260			273,275

	Par (000’s		)	Value
Indiana (continued)
Indiana Finance Authority, Series E (RB)
5.00%, 02/01/24	$	500		$	511,066
5.00%, 02/01/25		250			259,834
					3,679,946
Iowa: 0.5%
Iowa Finance Authority (RB) 5.00%, 08/01/23		250			253,413
PEFA, Inc., Gas Project (RB) 5.00%, 09/01/26 (c) (p)		1,500			1,499,005
					1,752,418
Kentucky: 1.9%
Kentucky Asset Liability Commission Project, Federal Highway Trust, First Series A (RB) 5.25%, 09/01/23 (c)		1,000			1,013,885
Kentucky Public Energy Authority, Gas Supply, Series A (RB) 4.00%, 06/01/26 (c) (p)		1,500			1,460,615
Kentucky Public Energy Authority, Gas Supply, Series B (RB)
4.00%, 01/01/25 (c) (p)		1,085			1,068,019
4.00%, 07/01/23		200			199,484
Kentucky Public Energy Authority, Gas Supply, Series C-1 (RB) 4.00%, 06/01/25 (c) (p)		1,100			1,071,897
Kentucky State Property & Building Commission (RB) 5.00%, 05/01/26		275			286,616
Kentucky Turnpike Authority, Series B (RB) 5.00%, 07/01/24		125			128,364
Louisville & Jefferson County, Metro Government, Norton Healtcare, Inc., Series C (RB) 5.00%, 10/01/26 (c) (p)		1,000			1,026,801
					6,255,681
Louisiana: 0.7%
East Baton Rouge Sewerage Commission, Series A (RB) (NATL) 5.00%, 02/01/27		250			266,047
Louisiana Public Facilities Authority, Ochsner Clinic Project, Series B (RB) (SAW) 5.00%, 05/15/25 (c) (p)		500			513,211
Louisiana State Citizens Property Insurance Corp., Series 2 (RB) 5.00%, 06/01/23		590			595,808
St. John Baptist Parish, Marathon Oil Co., Series B-2 (RB) 2.38%, 07/01/26 (p)		750			683,393

	Par (000’s		)	Value
Louisiana (continued)
State of Louisiana, Series A (GO) 5.00%, 03/01/26	$	335		$	352,286
					2,410,745
Maine: 0.2%
State of Maine, Series B (GO) (SBG) 5.00%, 06/01/25		500			521,280
Maryland: 2.0%
County of Baltimore, Equipment Acquisition Program (CP) 5.00%, 03/01/25		295			306,069
County of Montgomery, Consolidated Public Improvement, Series A (GO) 5.00%, 11/01/26		265			282,253
Department of Transportation of Maryland, Series B (RB) 5.00%, 12/01/23		500			509,530
Prince George’s County, Series A (GO) 5.00%, 07/15/25		425			444,437
State of Maryland, Department of Transportation (RB)
4.00%, 11/01/24 (c)		500			505,197
5.00%, 10/01/26		595			631,648
5.00%, 05/01/23		500			504,598
5.00%, 09/01/24		165			170,177
State of Maryland, Series B (GO)
5.00%, 08/01/24		550			566,714
5.00%, 08/01/25		500			522,949
State of Maryland, State and Local Facilities Loan, First Series A (GO) 5.00%, 03/15/24		1,500			1,536,290
State of Maryland, State and Local Facilities Loan, First Series C (GO) 5.00%, 08/01/24		250			257,597
State of Maryland, State and Local Facilities Loan, Second Series A (GO) 5.00%, 08/01/25		500			522,949
					6,760,408
Massachusetts: 3.4%
Commonwealth of Massachusetts, Federal Highway Grant Anticipation, Series A (RB) 5.00%, 06/15/23 (c)		860			869,711
Commonwealth of Massachusetts, Series A (GO)
5.00%, 01/01/26		250			262,463
5.00%, 01/01/27		710			755,353
Commonwealth of Massachusetts, Series C (GO) 5.00%, 10/01/26		400			424,184

	Par (000’s		)	Value
Massachusetts (continued)
Commonwealth of Massachusetts, Series D (GO)
5.00%, 07/01/23	$	900		$	910,989
5.00%, 07/01/27		250			267,649
Commonwealth of Massachusetts, Series E (GO)
3.00%, 12/01/25		750			738,079
5.00%, 11/01/26		295			313,184
Commonwealth of Massachusetts, Series E (GO) (AGM) 5.00%, 09/01/26		250			264,822
Massachusetts Bay Transportation Authority Subordinated Sales Tax Bonds Series A, Subseries A-1 & Subseries A-2 (RB) 5.00%, 07/01/24		515			529,789
Massachusetts Department of Transportation, Metropolitan Highway System, Series A (RB) 5.00%, 01/01/23 (c) (p)		275			275,832
Massachusetts Development Finance Agency, Broad Institute (RB) 5.00%, 04/01/26		450			471,090
Massachusetts Development Finance Agency, Harvard University Issue, Series A (RB)
5.00%, 10/15/25		900			944,977
5.00%, 10/15/26		500			532,220
Massachusetts Development Finance Agency, Partners Healthcare System, Series S-4 (RB) 5.00%, 01/25/24 (p)		250			253,585
Massachusetts Housing Finance Agency Housing Bonds, Series B-2 (RB) 0.90%, 12/01/24 (c)		1,000			869,102
Massachusetts State College Building Authority, Series A (RB) 5.00%, 05/01/25 (c)		775			807,384
Massachusetts Water Resources Authority (RB) 5.00%, 08/01/23		170			172,258
University of Massachusetts Building Authority Project, Senior Series (RB) 5.00%, 11/01/22 (c)		1,650			1,650,000
					11,312,671
Michigan: 1.5%
City of Royal Oak Hospital Finance Authority, William Beaumont Hospital Obligated Group, Series D (RB) 5.00%, 03/01/24 (c)		1,000			1,022,486

	Par (000’s		)	Value
Michigan (continued)
Great Lakes Water Authority Water Supply System, Series A (RB) 5.00%, 07/01/24	$	590		$	605,686
Michigan Finance Authority Hospital, Trinity Health Credit Group (RB) 5.00%, 12/01/22 (c)		1,000			1,001,508
Michigan State Building Authority, Series I (RB) 5.00%, 04/15/26		250			262,586
Regents of The University of Michigan, Series A (RB) 5.00%, 04/01/23		180			181,387
State of Michigan, Grant Anticipation (RB)
5.00%, 03/15/24		650			664,671
5.00%, 03/15/26		1,065			1,120,890
Wayne County Airport Authority, Series C (RB) 5.00%, 12/01/23		145			147,585
					5,006,799
Minnesota: 1.0%
Minneapolis-St. Paul Metropolitan Area, Series C (GO) 5.00%, 12/01/26		1,000			1,063,542
Regents of University of Minnesota, Series B (RB) 5.00%, 12/01/22		480			480,720
State of Minnesota, Various Purpose, Series A (GO) 5.00%, 08/01/24		1,200			1,236,467
State of Minnesota, Various Purpose, Series D (GO) 5.00%, 08/01/26		400			424,263
					3,204,992
Missouri: 1.1%
City of St. Louis, St. Louis Lambert International Airport, Series A (RB) (AGM) 5.00%, 07/01/23		1,000			1,011,154
Health & Educational Facilities Authority, Long-Term Rate Health Facilities, Series B (RB) 4.00%, 05/01/26 (p)		1,500			1,523,930
Health & Educational Facilities Authority, Mercy Health, Series A (RB) 5.00%, 06/01/25		150			154,993
Missouri Highways and Transportation Commission, Third Lien, Series B (RB) 5.00%, 11/01/25		500			524,322

	Par (000’s		)	Value
Missouri (continued)
Missouri State Environmental Improvement and Energy Resources Authority, Water Pollution Control and Drinking Water, Series B (RB) 5.00%, 07/01/25 (c)	$	500		$	521,911
					3,736,310
Nebraska: 0.8%
Central Plains Energy Project, Gas Project Crossover, Series A (RB)
5.00%, 01/01/24 (c) (p)		500			500,324
5.00%, 01/01/24 (c)		350			350,649
Central Plains Energy Project, Gas Supply (RB) (AGM) 4.00%, 08/01/25 (c) (p)		2,000			1,975,981
					2,826,954
Nevada: 0.7%
Clark County (GO) 5.00%, 06/01/25		1,090			1,135,017
County of Clark, Nevada McCarran International Airport, Series A (RB) 5.00%, 07/01/23		300			303,385
County of Clark, Series B (GO) 5.00%, 11/01/23		450			457,840
State of Nevada, Highway Improvement, Motor Vehicle Fuel Tax (RB) 5.00%, 12/01/24		300			310,425
					2,206,667
New Jersey: 3.3%
City of Newark, Series A (GO) (AGM) 5.00%, 10/01/26		300			314,208
New Jersey Economic Development Authority, New Jersey Transit Corp. Project, Series B (RB) 5.00%, 11/01/24		100			102,391
New Jersey Economic Development Authority, School Facilities Construction, Series QQQ (RB) 5.00%, 06/15/26		455			470,583
New Jersey Economic Development Authority, School Facilities Construction, Series WW (RB) 5.25%, 06/15/25 (c)		500			525,466
New Jersey Educational Facilities Authority, Higher Education Facilities Trust (RB)
5.00%, 06/15/23		1,000			1,008,122
5.00%, 06/15/24		575			586,356
New Jersey Educational Facilities Authority, Princeton University, Series B (RB) 5.00%, 07/01/25		1,000			1,045,906

	Par (000’s		)	Value
New Jersey (continued)
New Jersey Educational Facilities Authority, Princeton University, Series I (RB) 5.00%, 07/01/25	$	225		$	235,329
New Jersey Health Care Facilities Financing Authority, AHS Hospital Corp. (RB) 5.00%, 07/01/23		300			303,287
New Jersey Health Care Facilities Financing Authority, Hospital Asset Transportation Program (RB) 5.00%, 10/01/26		1,000			1,036,654
New Jersey Health Care Facilities Financing Authority, Valley Health System (RB) 5.00%, 07/01/26		300			310,796
New Jersey Higher Education Student Assistance Authority, Series A (RB) (AGM) 5.00%, 12/01/23		500			508,592
New Jersey Transportation Trust Fund Authority, Series A (RB)
5.00%, 12/15/23		1,175			1,191,469
5.00%, 06/15/24		1,410			1,438,738
State of New Jersey, Covid-19 General Emergency, Series A (GO) 5.00%, 06/01/27		500			530,391
State of New Jersey, Various Purposes (GO)
2.00%, 06/01/25		500			472,758
2.00%, 06/01/26		500			461,901
Tobacco Settlement Financing Corp., Series A (RB) 5.00%, 06/01/23		290			292,044
					10,834,991
New Mexico: 0.9%
New Mexico Municipal Energy Acquisition Authority, Gas Supply (RB) (SBG) 5.00%, 05/01/25 (c) (p)		1,165			1,189,798
State of New Mexico, Series A (GO) 5.00%, 03/01/23		320			321,968
State of New Mexico, Series A (RB) 5.00%, 07/01/27		840			900,052
State of New Mexico, Series B (GO)
5.00%, 03/01/23		340			342,091
5.00%, 03/01/25		250			259,666
					3,013,575
New York: 14.2%
City of New York, Series A (GO)
4.00%, 08/01/23		250			251,583
5.00%, 08/01/23		100			101,365
5.00%, 08/01/24		1,500			1,545,584

	Par (000’s		)	Value
New York (continued)
City of New York, Series C (GO)
5.00%, 08/01/24	$	750		$	772,792
5.00%, 08/01/25		1,325			1,382,974
City of New York, Series C and D (GO)
5.00%, 08/01/23		320			324,368
5.00%, 08/01/26		325			343,773
City of New York, Series C, (GO) (SD CRED PROG) 5.00%, 08/01/27		500			535,166
City of New York, Series E (GO) 5.00%, 08/01/24		255			262,749
City of New York, Series F-1 (GO) 5.00%, 03/01/27		410			435,756
City of New York, Series J-9 (GO) 5.00%, 08/01/26		500			528,881
City of Yonkers, Series C (GO) (BAM) 5.00%, 10/01/23		100			101,466
County of Nassau, Series C (GO) 5.00%, 10/01/24		200			206,053
Hudson Yards Infrastructure Corp., Series A (RB) 5.00%, 02/15/23		100			100,506
Long Island Power Authority Electric System (RB) (BAM) 5.00%, 09/01/26		1,010			1,069,882
Metropolitan Transportation Authority, Series A-1 (RB) 5.00%, 11/15/24 (p)		2,000			2,023,750
Metropolitan Transportation Authority, Series A-2 (RB) (SD CRED PROG) 5.00%, 05/15/24 (p)		1,160			1,170,723
Metropolitan Transportation Authority, Series B (RB)
5.00%, 11/15/23		290			293,850
5.00%, 11/15/24		390			398,333
5.00%, 11/15/26		255			261,336
5.00%, 11/15/26		500			512,275
Metropolitan Transportation Authority, Series C-1 (RB)
5.00%, 11/15/23		500			506,537
5.00%, 11/15/25		875			896,820
Metropolitan Transportation Authority, Series E (RB) 5.00%, 11/15/30		1,000			1,000,656
New York City Housing Development Corp., Multi- Family Housing, Series A-1 (RB) (FHA 542(C)) 1.10%, 11/01/27		475			410,085
New York City Housing Development Corp., Multi- Family Housing, Series F-2 (RB) (FHA 542 (C)) 0.60%, 07/01/25 (c) (p)		305			274,970

	Par (000’s		)	Value
New York (continued)
New York City Industrial Development Agency, Queens Baseball Stadium Project, Series A (RB) (AGM) 5.00%, 01/01/27	$	750		$	791,634
New York City Municipal Water Finance Authority, Water and Sewer System, Fiscal Subseries CC-2 (RB) 5.00%, 12/15/25 (c)		500			526,276
New York City Transitional Finance Authority Future Tax Secured, Series A (RB) 5.00%, 11/01/27		440			471,542
New York City Transitional Finance Authority, Building Aid, Series S-1 (RB) (SAW)
5.00%, 07/15/24		550			566,244
5.00%, 07/15/25		570			595,928
5.00%, 07/15/26		315			332,214
New York City Transitional Finance Authority, Fiscal Series A, Subseries A-1 (RB) 5.00%, 11/01/26		1,000			1,058,567
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series C-1 (RB) 5.00%, 05/01/23		575			580,231
New York City Transitional Finance Authority, Future Tax Secured Subordinate, Series D-1 (RB) 5.00%, 11/01/25		350			366,414
New York City Transitional Finance Authority, Series A (RB) 5.00%, 11/01/26		550			582,212
New York City Transitional Finance Authority, Series C (RB) 5.00%, 11/01/23		1,000			1,017,521
New York City Water & Sewer System, Series AA (RB) 4.00%, 06/15/24		500			506,888
New York City Water & Sewer System, Series BB-2 (RB) 5.00%, 12/15/23 (c)		700			713,983
New York City Water & Sewer System, Series BB-2 (RB) (AGM) 5.00%, 12/15/24 (c)		430			444,845
New York State Dormitory Authority, Health Facilities Improvement (RB) (SAW) 5.00%, 01/15/23		300			301,133

	Par (000’s		)	Value
New York (continued)
New York State Dormitory Authority, Montefiore Medical Center, Series A (RB) 5.00%, 08/01/24	$	300		$	303,353
New York State Dormitory Authority, New York Cornell University, Series A (RB) 5.00%, 07/01/26		700			744,349
New York State Dormitory Authority, New York University, Series A (RB) 5.00%, 07/01/24		110			113,159
New York State Dormitory Authority, Personal Income Tax, Series A (RB)
5.00%, 02/15/23		220			221,177
5.00%, 02/15/25		140			145,380
5.00%, 03/15/23		290			292,015
5.00%, 03/15/26		700			735,367
5.00%, 03/15/26		500			525,262
5.00%, 03/15/27		300			320,891
5.00%, 03/15/27		500			531,661
New York State Dormitory Authority, Personal Income Tax, Series B (RB)
5.00%, 02/15/26		345			362,034
5.00%, 02/15/26		590			621,022
5.00%, 02/15/27		510			543,856
New York State Dormitory Authority, Personal Income Tax, Series D (RB)
5.00%, 02/15/23		1,070			1,075,676
5.00%, 02/15/27		490			522,528
5.00%, 02/15/27		25			26,556
New York State Dormitory Authority, Personal Income Tax, Series D (RB) (BAM) 5.00%, 02/15/25		1,000			1,035,726
New York State Dormitory Authority, School District Financing Program, Series A (RB) (SAW)
5.00%, 10/01/25		435			454,372
5.00%, 10/01/26		400			422,679
New York State Dormitory Authority, Series A (RB) 5.00%, 02/15/27		500			532,164
New York State Dormitory Authority, Series A (RB) (AMBAC) 5.00%, 12/15/22		1,000			1,002,244
New York State Dormitory Authority, Series C (RB) 5.00%, 03/15/28		640			690,684
New York State Dormitory Authority, State Sales Tax, Series A (RB) 5.00%, 03/15/23		110			110,765

	Par (000’s		)	Value
New York (continued)
New York State Dormitory Authority, State Sales Tax, Series B (RB) 5.00%, 09/15/25 (c)	$	500		$	523,771
New York State Dormitory Authority, State Sales Tax, Series C (RB)
5.00%, 03/15/24		155			158,691
5.00%, 03/15/25		1,035			1,076,146
New York State Dormitory Authority, State Sales Tax, Series E (RB) 5.00%, 03/15/26		680			717,700
New York State Dormitory Authority, State University Dormitory Facilities, Series A (RB) 5.00%, 07/01/25		500			519,061
New York State Environmental Facilities Corp., State Clean Water And Drinking Water Revolving Funds, Series B (RB) 5.00%, 06/15/28		605			657,364
New York State Housing Finance Agency, Series A-2, Series B-2, Series C (RB) 2.50%, 05/01/27 (c) (p)		975			903,986
New York State Housing Finance Agency, Series I (RB) (SAW) 1.75%, 11/21/22 (c)		750			729,594
New York State Housing Finance Agency, Series L-2 (RB) 0.75%, 11/21/22 (c)		750			678,378
New York State Thruway Authority, Series L (RB) 5.00%, 01/01/24		165			168,135
New York State Urban Development Corp., State Personal Income, Series A (RB)
5.00%, 03/15/23		790			795,520
5.00%, 03/15/25		495			513,409
5.00%, 03/15/25		5			5,193
5.00%, 03/15/26 (c)		500			523,152
5.00%, 03/15/27		690			736,600
New York State Urban Development Corp., State Personal Income, Series E (RB) 5.00%, 03/15/25		500			518,596
Town of Oyster Bay, New York Public Improvement, Series B (GO) (AGM) 3.25%, 02/01/26		530			520,833
Triborough Bridge & Tunnel Authority, Series A-2 (RB) 2.00%, 05/15/26 (p)		875			808,215

	Par (000’s		)	Value
New York (continued)
Triborough Bridge & Tunnel Authority, Series C-1B (RB) 5.00%, 05/15/26 (p)	$	500		$	519,638
Utility Debt Securitization Authority, Series B (RB) 5.00%, 12/15/22 (c)		320			320,668
					47,295,435
North Carolina: 2.1%
Charlotte-Mecklenburg Hospital Authority, Carolinas Healthcare System, Series A (RB) 4.00%, 01/15/23		115			115,170
City of Charlotte, North Carolina Water & Sewer System (RB) 5.00%, 07/01/23		500			506,105
County of Guilford, Series B (GO) 5.00%, 05/01/24		500			512,955
County of Wake (GO) 5.00%, 04/01/27		300			321,456
County of Wake (RB) 5.00%, 09/01/26		375			397,234
County of Wake, Series A (GO) 5.00%, 03/01/25		250			259,951
North Carolina Medical Care Commission Hospital, Caromont Health, Series B (RB) 5.00%, 02/01/26 (p)		500			519,892
North Carolina Turnpike Authority, Triangle Expressway System (RB) (BAM) 5.00%, 02/01/24		2,125			2,150,935
State of North Carolina, Department of State Treasurer, Series B (GO) 5.00%, 06/01/25		970			1,012,750
State of North Carolina, Grant Anticipation Vehicle (RB) 5.00%, 03/01/23		500			502,975
State of North Carolina, Series B (GO) 5.00%, 06/01/23		575			581,357
					6,880,780
Ohio: 2.7%
American Municipal Power, Inc., Combined Hydroelectric Projects, Series A (RB) 5.00%, 02/15/28		1,000			1,068,645
City of Cleveland, Ohio Airport System, Series B (RB) (AGM) 5.00%, 01/01/23		260			260,721
County of Allen, Ohio Hospital Facilities, Mercy Health, Series A (RB) 5.00%, 08/01/25		100			103,365

	Par (000’s		)	Value
Ohio (continued)
5.00%, 08/01/26	$	410		$	427,511
County of Hamilton, Sales Tax, Series A (RB) 5.00%, 12/01/25		500			522,988
Lancaster Port Authority (RB) (SBG) 5.00%, 02/01/25 (c) (p)		485			490,847
Lucas-Plaza Hsg Development Corp., Bds Plaza Section 8, Proj B (RB) (FHA) 0.00%, 06/01/24 ^		500			473,779
Ohio Turnpike and Infrastructure Commission, Series A (RB) 5.00%, 02/15/26		460			483,004
Ohio University (RB) 5.00%, 12/01/22 (c)		500			500,754
Ohio Water Development Authority, Water Pollution Control, Series A (RB) 5.00%, 06/01/26		250			264,385
State of Ohio, Cleveland Clinic Health System, Series A (RB) 5.00%, 01/01/26		500			522,629
State of Ohio, Common School, Series B (GO) 5.00%, 09/15/25		100			104,696
State of Ohio, Higher Educational Facility, Case Western Reserve University Project (RB) 5.00%, 12/01/23		560			570,401
State of Ohio, Highway Capital Improvement, Series R 5.00%, 05/01/27		500			512,955
State of Ohio, Highway Capital Improvement, Series T (GO) 5.00%, 11/01/22		675			675,000
State of Ohio, Highway Capital Improvement, Series U (GO) 5.00%, 05/01/23		1,000			1,009,246
State of Ohio, Highway Capital Improvements, Series S (GO) 5.00%, 05/01/26		880			929,590
					8,920,516
Oklahoma: 0.2%
Canadian County Educational Facilities Authority, Mustang Public Schools (RB) 5.00%, 09/01/26 (c)		535			563,569
Oregon: 0.9%
Beaverton School District 48J, Series B (GO) (SBG) 5.00%, 06/15/24 (c)		1,000			1,027,876

City of Portland, Sewer System, Series A (RB) (AGM) 5.00%, 03/01/26		500			526,929

	Par (000’s		)	Value
Oregon (continued)
Linn and Benton Counties School District No. 8J (GO) (SBG) 5.00%, 06/15/26	$	350		$	369,721
Multnomah County School District No. 1J, Series B (GO) (SBG) 5.00%, 06/15/25		500			520,935
State of Oregon, Article Xi-Q State Projects, Series A (GO) 5.00%, 05/01/23		500			504,672
					2,950,133
Pennsylvania: 3.3%
Allegheny County Hospital Development Authority, Series A (RB) 5.00%, 07/15/25		300			310,648
City of Philadelphia, Series A (GO)
5.00%, 08/01/24		200			205,700
5.00%, 08/01/25		300			311,366
5.00%, 08/01/25		245			254,282
Commonwealth Financing Authority, Tobacco Master Settlement Payment (RB) 5.00%, 06/01/23		250			251,699
Commonwealth of Pennsylvania, First Series 5.00%, 06/15/29		500			513,938
Commonwealth of Pennsylvania, First Series (GO)
5.00%, 01/01/26		560			588,088
5.00%, 01/01/27		315			335,248
5.00%, 02/01/26		415			436,314
5.00%, 03/15/25 (c)		500			517,787
5.00%, 08/15/25		565			590,199
Commonwealth of Pennsylvania, First Series (GO) (SBG) 5.00%, 07/15/26		1,000			1,057,861
Commonwealth of Pennsylvania, Second Series (GO) 5.00%, 01/15/23		370			371,367
County of Lehig, Valley Health Network, Series A (RB) (SBG) 5.00%, 07/01/26		600			625,545
Delaware River Port Authority, Series B (RB)
5.00%, 01/01/25		350			360,104
5.00%, 01/01/26		1,170			1,217,963
Montgomery County, Higher Education and Health Authority, Thomas Jefferson University, Series A (RB) 5.00%, 09/01/23		500			505,479

	Par (000’s		)	Value
Pennsylvania (continued)
Northampton County, General Purpose Authority (RB) 5.00%, 11/01/23	$	150		$	152,539
Pennsylvania Turnpike Commission Turnpike, Series A (RB) 5.00%, 12/01/22 (c)		525			525,792
Pennsylvania Turnpike Commission, Series B-2 (RB) 5.00%, 06/01/26		500			521,209
Philadelphia Authority for Industrial Development (RB) 5.00%, 10/01/24		400			409,938
Philadelphia School District, Series F (GO) (SAW) 5.00%, 09/01/25		660			681,571
Southeastern Pennsylvania Transportation Authority, Federal Transit Administration Section 5337 (RB) 5.00%, 06/01/23		115			116,139
					10,860,776
Rhode Island: 0.1%
Tobacco Settlement Financing Corporation Tobacco Settlement Asset-Backed Bonds, Series A (RB) 5.00%, 06/01/25 (c)		500			504,674
South Carolina: 0.8%
County of Charleston, Series C (GO) (SAW) 5.00%, 11/01/24		510			527,562
County of Richland, Series A (GO) (SAW) 5.00%, 03/01/26		500			527,900
Patriots Energy Group Financing Agency, Series A (RB) 4.00%, 02/01/24 (c) (p)		1,765			1,757,094
					2,812,556
South Dakota: 0.2%
South Dakota Health And Educational Facilities Authority, Series A, Avera Health (RB) 5.00%, 07/01/24 (c) (p)		535			545,517
Tennessee: 1.2%
Metropolitan Government of Nashville & Davidson County (GO)
5.00%, 07/01/24		200			205,776
5.00%, 07/01/26		525			555,836
Metropolitan Government of Nashville & Davidson County, Series A 5.00%, 01/01/29		500			501,520

	Par (000’s		)	Value
Tennessee (continued)
Metropolitan Government of Nashville & Davidson County, Series C (GO) (SBG) 5.00%, 01/01/24	$	500		$	510,305
Tennessee Energy Acquisition Corp., Gas Project (RB) 4.00%, 11/01/25 (c) (p)		1,775			1,725,808
Tennessee Energy Acquisition Corp., Series A (RB) 4.00%, 05/01/23 (c) (p)		560			558,804
					4,058,049
Texas: 8.3%
Bexar County (GO) 5.00%, 06/15/26 (c)		500			527,998
Board of Regents of the University of Texas System, Series H (RB) 5.00%, 08/15/23		275			279,022
City of Austin, Texas Water & Wastewater System (RB) 5.00%, 11/15/25		790			826,548
City of Denton, Utility System (RB) 5.00%, 12/01/26		310			326,670
City of Houston, Airport System, Series D (RB)
5.00%, 07/01/23		500			505,775
5.00%, 07/01/24		250			256,851
City of Houston, Series A (GO)
5.00%, 03/01/23		250			251,496
5.00%, 03/01/24 (c)		750			766,865
City of San Antonio, Electric and Gas Systems (RB) 5.00%, 08/01/26 (c)		630			668,248
City of San Antonio, General Improvement (GO) 5.00%, 08/01/25		500			523,217
Colorado River Municipal Water District (RB)
5.00%, 01/01/24		115			117,132
5.00%, 01/01/26		655			685,645
Comal Independent School District (GO) 5.00%, 02/01/26		775			814,803
Conroe Independent School District, Unlimited Tax School Buildings, Series A (GO) 5.00%, 02/15/27		2,000			2,132,706
Dallas Area Rapid Transit, Series A (RB) 5.00%, 12/01/25 (c)		1,000			1,049,261
Dallas County Hospital District (GO) 5.00%, 08/15/23		950			962,559
Dallas County, Combination Tax and Parking Garage (GO) 5.00%, 08/15/23		375			380,162

	Par (000’s		)	Value
Texas (continued)
Dallas Fort Worth International Airport, Series B (RB) 5.00%, 11/01/25	$	200		$	207,643
Dallas Independent School District, Series A (GO) 4.00%, 02/15/25 (c)		500			506,851
Denton Independent School District, Series A (GO) 5.00%, 08/15/25 (c)		500			523,124
Grand Parkway Transportation Corp. (RB) 5.00%, 02/01/23		325			326,122
Harris County, Cultural Education Facilities Finance Corp., Texas Children’s Hospital, Series A (RB) 5.00%, 10/01/24		500			515,696
Harris County, Texas Toll Road Senior Lien, Series A (RB) 5.00%, 08/15/27		1,000			1,073,578
Houston Community College System (GO) 5.00%, 02/15/23 (c)		1,000			1,005,304
Houston Independent School District (GO) 5.00%, 07/15/25		320			333,622
Houston Independent School District, Limited Tax School House (GO)
5.00%, 02/15/24		155			158,473
5.00%, 02/15/26		250			262,661
Houston Independent School District, Limited Tax School House, Series A (GO) 5.00%, 02/15/23		650			653,421
Houston Independent School District, Maintenance Tax Notes (GO) 5.00%, 07/15/26		455			480,677
New Hope Cultural Education Facilities Finance Corp., Children’s Health System, Series A (RB) 5.00%, 08/15/23		160			162,103
North Texas Thruway Authority, Series I (RB) (AGC) 6.20%, 01/01/25 (c)		1,000			1,058,549
North Texas Tollway Authority, First Tier, Series A (RB)
5.00%, 01/01/25		150			154,994
5.00%, 01/01/26 (c)		595			622,888
Port Houston Authority of Harris County, Texas Unlimited Tax, Series A-2 (GO)
5.00%, 10/01/24		500			515,884
5.00%, 10/01/25		500			523,257

	Par (000’s		)	Value
Texas (continued)
San Antonio Water System, Series A (RB) 2.00%, 05/15/25	$	300		$	286,177
State of Texas, Water Infrastructure Fund, Series B-2 (GO) 5.00%, 08/01/24 (c)		430			442,328
State of Texas, Water Infrastructure Fund, Series B-3 (GO)
5.00%, 08/01/23		400			405,461
5.00%, 08/01/24		250			257,597
5.00%, 08/01/25		500			522,145
Texas A&M University, Series D (RB) 5.00%, 05/15/26		820			864,141
Texas Municipal Gas Acquisition & Supply Corp. III (RB) 5.00%, 12/15/26		600			609,063
Texas Water Development Board (RB)
5.00%, 04/15/26		1,000			1,053,344
5.00%, 08/01/23		350			354,804
5.00%, 08/01/25		225			235,025
Texas Water Development Board, Series A (RB) 5.00%, 04/15/23		340			342,895
Texas Water Development Board, Series B (RB) 5.00%, 10/15/24		500			516,377
University of Houston, Series A (RB) 5.00%, 02/15/26		1,000			1,052,556
Ysleta Independent School District (GO) 5.00%, 08/15/25 (c)		650			678,297
					27,780,015
Utah: 1.0%
County of Utah, IHL Health Services Inc., Series B-1 (RB) 5.00%, 08/01/24 (c) (p)		1,000			1,022,682
County of Utah, IHL Health Services Inc., Series B-2 (RB) 5.00%, 08/01/24 (c) (p)		500			508,177
State of Utah (GO)
5.00%, 07/01/23		500			506,171
5.00%, 07/01/25		300			313,850
5.00%, 07/01/25		290			303,388
5.00%, 07/01/26		500			531,144
					3,185,412
Virginia: 2.8%
City of Richmond, Public Utility Revenue, Series A (RB) 5.00%, 01/15/25		125			129,528
Commonwealth Transportation Board, Commonwealth of Virginia (RB) 5.00%, 05/15/25		500			520,325

	Par (000’s		)	Value
Virginia (continued)
County of Fairfax, Public Improvement, Series A (GO)
4.00%, 10/01/24	$	285		$	289,074
4.00%, 10/01/25		500			510,038
County of Fairfax, Public Improvement, Series A (GO) (SAW)
4.00%, 10/01/23		275			277,196
4.00%, 10/01/25		700			714,053
Fairfax County Industrial Development Authority, Inova Health System Project, Series A (RB) 5.00%, 05/15/24		125			128,127
Hampton Roads Transportation Accountability Commission (RB) 5.00%, 07/01/26		1,250			1,311,956
Rector And Visitors of The University Of Virginia, Series A (RB) 5.00%, 06/01/23 (c)		1,000			1,010,652
Virginia College Building Authority, 21st Century College and Equipment Programs Educational Facilities, Series C (RB)
5.00%, 02/01/24		235			240,114
5.00%, 02/01/27		600			639,738
5.00%, 02/01/27		250			266,557
Virginia College Building Authority, 21st Century College and Equipment Programs Educational Facilities, Series E (RB) 5.00%, 02/01/23		250			251,156
Virginia Commonwealth Transportation Board (RB)
5.00%, 09/15/23		400			406,288
5.00%, 09/15/24		325			335,518
5.00%, 09/15/26 (c)		510			541,086
Virginia Public Building Authority, Series A (RB) 5.00%, 08/01/26		265			280,211
Virginia Public Building Authority, Series B (RB) 5.00%, 08/01/26		500			528,701
Wise County Industrial Development Authority, Virginia Electric and Power Co. Project, Series A (RB) (AGC) 0.75%, 09/02/25 (p)		1,000			912,240
					9,292,558
Washington: 2.8%
Central Puget Sound Regional Transit Authority, Series S-1 (RB) 5.00%, 11/01/25 (c)		1,000			1,049,519

	Par (000’s		)	Value
Washington (continued)
City of Seattle, Municipal Light and Power Improvement, Series B (RB) 5.00%, 02/01/26	$	400		$	420,418
County of King (GO) 5.00%, 07/01/24		100			102,822
County of King, Sewer Improvement, Series B (RB)
5.00%, 07/01/25		575			600,198
5.00%, 07/01/26		200			211,535
Energy Northwest Project Electric, Series A (RB) 5.00%, 07/01/25		1,000			1,042,524
Energy Northwest Project Electric, Series C (RB)
5.00%, 07/01/24		450			463,070
5.00%, 07/01/25		1,375			1,433,470
Energy Northwest, Colombia Generating Station Electric, Series A (RB)
5.00%, 07/01/23		100			101,221
5.00%, 07/01/24		455			468,215
State of New Mexico, Series A (GO) 5.00%, 06/01/26		1,000			1,057,542
State of Washington Various Purpose, Series D (GO) 5.00%, 02/01/24		200			204,451
State of Washington, Various Purpose, Series R-A (GO) 5.00%, 08/01/24		750			772,921
Washington Health Care Facilities Authority, CommonSpirit Health, Series B-1 (RB) 5.00%, 08/01/24 (c) (p)		1,000			1,011,231
Washington Health Care Facilities Authority, Virginia Mason Medical Center (RB) 5.00%, 08/15/25		270			274,547
					9,213,684
West Virginia: 0.6%
State of West Virginia, Commissioner of Highways, Surface Transportation Improvements, Series A (RB) 5.00%, 09/01/23		410			416,178
State of West Virginia, Surface Transportation Improvements, Series A (RB) 5.00%, 09/01/26		1,000			1,053,399
West Virginia Hospital Finance Authority, United Health System Obligated Group, Series A (RB) 5.50%, 06/01/23 (c)		500			506,318
					1,975,895

	Par (000’s		)	Value
Wisconsin: 1.6%
City of Milwaukee, Series N4 (GO)
5.00%, 04/01/24	$	225		$	228,769
5.00%, 04/01/25		125			128,970
5.00%, 04/01/26		750			782,694
State of Wisconsin, Series 1 5.00%, 07/01/29		500			506,039
State of Wisconsin, Series 1 (GO) 5.00%, 11/01/22		500			500,000
State of Wisconsin, Series 2 (GO) 5.00%, 11/01/25		380			399,150
State of Wisconsin, Series A (GO)
5.00%, 05/01/25		500			521,259
5.00%, 05/01/25 (c)		500			518,945
State of Wisconsin, Series B (GO) 5.00%, 05/01/26		525			555,475
University of Wisconsin Hospitals And Clinics Authority, Series A (RB) 5.00%, 04/01/23 (c)		1,000			1,007,459
Wisconsin Department of Transportation, Series 2 (RB) 5.00%, 07/01/24		120			123,505
					5,272,265
Total Municipal Bonds: 98.3% (Cost: $345,586,915)					327,278,095
Other assets less liabilities: 1.7%					5,612,908
NET ASSETS: 100.0%				$	332,891,003

The summary of inputs used to value the Fund’s investments as of October 31, 2022 is as follows:

Note 1—Fund Organization—VanEck ETF Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company. The Trust was incorporated in Delaware as a statutory trust on March 15, 2001. The Trust operates as a series fund, and offers multiple investment portfolios, each of which represents a separate series of the Trust. These financial statements relate only to the investment portfolios listed in the diversification table below (each a “Fund” and, collectively, the “Funds”).

Each Fund’s investment objective (except for HIP Sustainable and Muni Allocation) is to replicate as closely as possible, before fees and expenses, the price and yield performance of its index which are listed in the table below.

The investment objective of HIP Sustainable is to seek current income generally exempt from federal income tax, other than federal alternative minimum tax. The investment objective of Muni Allocation is to maximize long- term after-tax return, consisting of capital appreciation and income exempt from federal income tax. The Funds (except CEF Muni, HIP Sustainable and Muni Allocation) expect to use a sampling approach in seeking to achieve their objectives. Sampling means that Van Eck Associates Corporation (the “Adviser”) uses quantitative analysis to select bonds and other securities that represent a sample of securities in each Fund’s respective index in terms of key risk factors, performance attributes and other characteristics. The number of securities in each Fund will be based upon several factors, including asset size of the Fund. The Adviser generally expects each Fund to hold less than the total number of securities in its index, but reserves the right to hold as many securities as it believes necessary to achieve the Fund’s investment objective. CEF Muni seeks to achieve its objectives through a portfolio of securities in substantially the same weighting as its index. The HIP Sustainable is an actively managed exchange-traded fund that seeks to achieve its investment objectives by investing, under normal circumstances, in investment grade municipal debt securities that fund issuers with operations or projects helping to promote progress towards sustainable development, in alignment with the goals and metrics defined by the United Nations Sustainable Development Goals. The Muni Allocation is an actively managed exchange-traded fund that seeks to achieve its investment objective by investing, under normal circumstances, primarily in VanEck ETFs that invest in publicly traded municipal bonds.

Note 2—Significant Accounting Policies— The preparation of financial statements in conformity with U.S. generally accepted accounting principles (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates.

The Funds are investment companies and follow accounting and reporting requirements of Accounting Standards Codification (“ASC”) 946 Financial Services — Investment Companies.

Note 3—Investment Management and Other Agreements— The Adviser is the investment adviser to the Funds. The Adviser receives a management fee, calculated daily and payable monthly based on an annual rate of each Fund’s average daily net assets. The Funds utilize a unitary management fee structure where the Adviser is responsible for all expenses of the Funds, excluding the fee payment under the investment management agreement, acquired fund fees and expenses, interest expense, trading expenses, taxes and extraordinary expenses.

In addition, Van Eck Securities Corporation, an affiliate of the Adviser, acts as the Funds’ distributor (the “Distributor”). Certain officers and a Trustee of the Trust are officers, directors or stockholders of the Adviser and Distributor.

Note 4—Capital Share Transactions—As of October 31, 2022, there were an unlimited number of capital shares of beneficial interest authorized by the Trust with no par value. Fund shares are not individually redeemable and are issued and redeemed at their net asset value per share only through certain authorized broker-dealers (“Authorized Participants”) in blocks of shares (“Creation Units”).

The consideration for the purchase or redemption of Creation Units of the Funds generally consists of the in-kind contribution or distribution of a designated portfolio of securities (“Deposit Securities”) plus a balancing cash component to equate the transaction to the net asset value per share of the Fund on the transaction date. Cash may also be substituted in an amount equivalent to the value of certain Deposit Securities, generally as a result of market circumstances, or when the securities are not available in sufficient quantity for delivery, or are not eligible for trading by the Authorized Participant. The Funds may issue Creation Units in advance of receipt of Deposit Securities subject to various conditions, including, for the benefit of the Funds, a requirement to maintain cash collateral on deposit at the custodian equal to at least 115% of the daily marked to market value of the missing Deposit Securities.

Authorized Participants purchasing and redeeming Creation Units may pay transaction fees directly to the transfer agent. In addition, the Funds may impose certain variable fees on the purchase or redemption of Creation Units for cash, or on transactions effected outside the clearing process, to defray certain transaction costs. These variable fees, if any, are reflected in share transactions in the Statements of Changes in Net Assets.

Note 5—Investments—For the period ended October 31, 2022, purchases and sales of investments (excluding short-term investments and in-kind capital share transactions) and the purchases and sales of investments resulting from in-kind capital share transactions (excluding short-term investments) were as follows:

During the period ended October 31, 2022, the Short High Yield and High Yield engaged in purchases and sales of investments to funds or other accounts that are managed by the Adviser (or an affiliate of the

Adviser). These transactions complied with Rule 17a-7 under the Act and aggregated to $981,931. The High Yield recognized realized gain of $29,397 related to these transactions.

Note 6—Income Taxes—As of October 31, 2022, for Federal income tax purposes, the identified cost, gross unrealized appreciation, gross unrealized depreciation and net unrealized appreciation (depreciation) of investments owned were as follows:

The tax character of current year distributions will be determined at the end of the current fiscal year.

At April 30, 2022, the following Funds had capital loss carryforwards available to offset future capital gains:

The Funds recognize the tax benefits of uncertain tax positions only where the position is “more-likely-than-not” to be sustained assuming examination by applicable tax authorities. Management has analyzed the Funds’ tax positions, and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on return filings for all open tax years.

The Funds recognize interest and penalties, if any, related to uncertain tax positions as income tax expense in the Statements of Operations. During the period ended October 31, 2022, the Funds did not incur any interest or penalties.

Note 7—Principal Risks—Investments in municipal securities or in Funds holding municipal securities involve risks, including market fluctuations caused by factors such as economic and political developments, changes in interest rates and perceived trends in security prices. The market for municipal bonds may be less liquid than for taxable bonds.

High Yield and Short High Yield invest in non-investment grade securities, often referred to as “junk bonds.” Economic downturns may disrupt the high yield market and impair the ability of issuers to repay principal and interest. These high yield securities may involve greater risks and considerations not typically associated with investing in U.S. government bonds and other high quality fixed-income securities. Also, an increase in interest rates would likely have an adverse impact on the value of such obligations. Moreover, high yield securities may be less liquid due to the extent that there is no established retail secondary market. High Yield and Short High Yield may not be able to sell bonds at desired prices and large purchases or sales of certain high-yield bond issues may cause substantial fluctuations in share price, yield and total return.

CEF Muni invests in closed-end funds and Muni Allocation invests in ETFs that may trade at a discount or premium to their net asset value. These Funds are dependent on the performance of underlying funds and are subject to the same risks of investing in municipal bonds. A closed-end fund may be leveraged as part of its investment strategy. As a result, CEF Muni may be indirectly exposed to the effects of leverage through its investment in the underlying funds. Investments in underlying funds that use leverage may cause the value of the Fund’s shares to be more volatile than if the Fund invested in underlying funds that do not utilize leverage.

The HIP Sustainable strategy of investing in municipal debt securities of issuers promoting sustainable development may limit the types and number of investments available to the Fund or cause the Fund to invest in securities that underperform the market as a whole. As a result, the Fund may underperform funds that do not have a sustainable investing strategy or funds with sustainable investing strategies that do not employ HIP (Human Impact + Profit) Ratings. In addition, the Fund relies on a data provider for the identification of issuers that promote sustainable development based on their HIP Ratings; however, there can be no guarantee that the data provider’s methodology will align with the Fund’s investment strategy or desirable issuers can be correctly identified.

Economies and financial markets throughout the world have experienced periods of increased volatility, uncertainty and distress as a result of conditions associated with the COVID-19 pandemic. To the extent these conditions continue, the risks associated with an investment in a Fund could be heightened and the Fund’s investments (and thus a shareholder’s investment in the Fund) may be particularly susceptible to sudden and substantial losses, reduced yield or income or other adverse developments.

A more complete description of risks is included in each Fund’s Prospectus and Statement of Additional Information.

Note 8—Trustee Deferred Compensation Plan—The Trust has a Deferred Compensation Plan (the “Plan”) for Trustees under which the Trustees can elect to defer receipt of their trustee fees until retirement, disability or termination from the Board of Trustees. The fees otherwise payable to the participating Trustees are deemed invested in shares of the Funds as directed by the Trustees.

A unitary management fee in which the Adviser is responsible for paying all the expenses of a Fund was adopted on September 1, 2010, for Intermediate, Long, Short, and High Yield Funds, and on November 1, 2019, for CEF Muni and Muni Allocation Funds. For these Funds, the liability for the Plan shown as “Deferred Trustee fees” in the Statements of Assets and Liabilities represents amounts accrued through these dates. Amounts accrued after these dates, including those from Short High Yield and HIP Sustainable, are presented in “Due to Adviser”.

Note 9—Bank Line of Credit—The Funds participate in a $200 million committed credit facility (the “Facility”) to be utilized for temporary financing until the settlement of sales or purchases of portfolio securities, the repurchase or redemption of shares of the Funds at the request of the shareholders and other temporary or emergency purposes. The Funds have agreed to pay commitment fees, pro rata, based on the unused but available balance. Interest is charged to the Funds based on prevailing market rates in effect at the time of borrowings. During the period ended October 31, 2022, the following Funds borrowed under this Facility:

Outstanding loan balances as of October 31, 2022, if any, are reflected in the Statements of Assets and

Note 10—Share Split—In 2018, the Board of Trustees approved a 1 for 2 reverse share split for Intermediate Muni ETF and High Yield Muni ETF. On October 26, 2018 shares began trading on a split adjusted basis. The Financial Highlights prior to October 26, 2018 have been adjusted to reflect the 1 for 2 reverse share split.

Note 11—Other— At a meeting held on November 30, 2021, the Board of Trustees (the “Board”) of the Trust approved the following changes with respect to High Yield, Intermediate, Long, Short High Yield and Short:

(i) changing each Fund’s benchmark index; (ii) changing each Fund’s investment objective; and (iii) changing each Fund’s principal investment strategies, as further detailed in the table below. These changes are being implemented within a 9-month period in two phases. The Board has approved a change to each Fund’s investment objective of seeking to replicate as closely as possible, before fees and expenses, the price and yield performance of its respective Former Index (as defined below).

Effective from March 1, 2022 through November 30, 2022, each Fund is seeking to replicate as closely as possible, before fees and expenses, the price and yield performance of its Transition Index (as defined below). Beginning after November 30, 2022, each Fund will seek to replicate as closely as possible, before fees and expenses, the price and yield performance of its New Index (as defined below).

During the period from March 1, 2022 to November 30, 2022 (the “Transition”), each Fund is seeking to replicate the index set forth under the “Transition Index” column of the table below (each, a “Transition Index”). Each Transition Index is an interim index that will gradually increase exposure to other securities based on their weightings in the corresponding index set forth under the “New Index” column of the table below (each, a “New Index”) while proportionately reducing exposure to the corresponding index set forth under the “Former Index” column of the table below (each, a “Former Index”).

At a meeting held on June 7, 2022 (the “Renewal Meeting”), the Board of Trustees (the “Board”) of VanEck^®ETF Trust (the “Trust”), including all of the Trustees that are not interested persons of the Trust (the “Independent Trustees”), approved the continuation of the investment management agreements between the Trust and Van Eck Associates Corporation (the “Adviser”) (the “Investment Management Agreements”) with respect to the VanEck Intermediate Muni ETF, Long Muni ETF, Short Muni ETF, CEF Muni Income ETF, High Yield Muni ETF and Short High Yield Muni ETF (each, a “Fund” and together, the “Funds”).

The Board’s approval of the Investment Management Agreements was based on a comprehensive consideration of all of the information available to the Trustees and was not the result of any single factor. Some of the factors that figured particularly in the Trustees’ deliberations and how the Trustees considered those factors are described below, although individual Trustees may have evaluated the information presented differently, giving different weights to various factors.

In preparation for the Renewal Meeting, the Trustees held a meeting on May 6, 2022. At that meeting, the Trustees discussed the information the Adviser and Broadridge Financial Solutions, Inc. (“Broadridge”), an independent third party data provider, had provided to them in advance. The information provided to the Trustees included, among other things, information about the performance and expenses of the Funds and the Funds’ peer funds (certain other index-based exchange-traded funds (“ETFs”)), information about the advisory services provided to the Funds and the personnel providing those services, and the profitability and other benefits enjoyed by the Adviser and its affiliates as a result of the Adviser’s relationship with the Funds. In reviewing performance information for the Funds against their peer groups, the Trustees considered that each Fund seeks to track a different index than the funds in its designated peer group and, therefore, each Fund’s performance will differ from its peers. In addition, as noted below, the Trustees reviewed certain performance information for each Fund which was not provided by Broadridge and which did not compare each Fund’s performance to the performance of its peer group. The Trustees noted that the peer group performance information did not necessarily provide meaningful direct comparisons to the Funds.

The Independent Trustees’ consideration of the Investment Management Agreements was based, in part, on their review of information obtained through discussions with the Adviser at the Renewal Meeting and with the Adviser at the May 6, 2022 meeting regarding the management of the Funds and information obtained at other meetings of the Trustees and/or based on their review of the materials provided by the Adviser, including the background and experience of the portfolio manager(s) and others involved in the management and administration of the Funds. The Trustees also considered the terms of, and scope of services that the Adviser provides under, the Investment Management Agreements, including the Adviser’s agreement to pay all of the direct expenses of the Funds (excluding the fee payment under the Investment Management Agreements, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses).

The Trustees concluded that the Adviser and its personnel have the requisite expertise and skill to manage the Funds’ portfolios. In evaluating the performance of each Fund, the Trustees reviewed various performance metrics but relied principally on a comparison of the “gross” performance of each Fund (i.e., measured without regard to the impact of fees and expenses) to the performance of its benchmark index. Based on the foregoing, the Trustees concluded that the investment performance of the Funds was satisfactory.

The Trustees also considered information relating to the financial condition of the Adviser and the current status, as they understood it, of the Adviser’s compliance environment.

As noted above, the Trustees were also provided various data from Broadridge comparing the Funds’ expenses and performance to that of certain other ETFs. The Trustees noted that the information provided showed that each of the VanEck Short Muni ETF and CEF Muni Income ETF had management fees below the average and median of its peer group of funds and each of the VanEck Long Muni ETF, High Yield Muni ETF and Short High Yield Muni ETF had management fees below the average and equal to the median of its respective peer group of funds, while the VanEck Intermediate Muni ETF had management fees above the average and median of its peer group of funds. The Trustees also noted that the information provided

showed that each of the VanEck Long Muni ETF, Short Muni ETF and CEF Muni Income ETF had a total expense ratio below the average and median of its respective peer group of funds, each of the VanEck High Yield Muni ETF and Short High Yield Muni ETF had a total expense ratio below the average and equal to the median of its respective peer group of funds, and the VanEck Intermediate Muni ETF had a total expense ratio above the average and equal to the median of its peer group of funds. The Trustees reviewed the amount by which certain Funds’ management fees and/or total expense ratios exceeded the average and/ or median of their respective peer groups and information provided by the Adviser providing context for these comparisons. The Trustees concluded, in light of this information and the other information available to them, that the fees paid by the Funds were reasonable in light of the performance of the Funds and the quality of services received.

The Trustees also considered the benefits, other than the fees under the Investment Management Agreements, received by the Adviser from serving as adviser to the Funds.

The Trustees also considered information provided by the Adviser about the overall profitability of the Adviser and its profitability or loss in respect of each Fund. The Trustees reviewed each Fund’s asset size and expense ratio and noted that the Investment Management Agreements do not include breakpoints in the advisory fee rates as asset levels in a Fund increase. The Trustees considered the volatility of the asset classes in which certain of the Funds invest, potential variability in the net assets of these Funds and the sustainability of any potential economies of scale which may exist given where fees are currently set. The Trustees also evaluated the extent to which management fees for the Funds may effectively incorporate the benefits of economies of scale. The Trustees also considered the risks being assumed by the Adviser under the unitary fee structure arrangement and the potential expense stability that may inure to the benefit of shareholders of the Funds. Based on the foregoing and the other information available to them, the Trustees determined that the advisory fee rate for each Fund is reasonable and appropriate in relation to the current asset size of each Fund and the other factors discussed above and that the advisory fee rate for each Fund currently reflects an appropriate sharing with shareholders of any economies of scale which may exist. The Trustees also determined that the profits earned by the Adviser with respect to the Funds that were profitable to the Adviser were reasonable in light of the nature and quality of the services received by such Funds.

The Independent Trustees were advised by and met in executive session with their independent counsel at the Renewal Meeting and at their May 6, 2022 meeting, as part of their consideration of the Investment Management Agreements.

In voting to approve the continuation of the Investment Management Agreements, the Trustees, including the Independent Trustees, concluded that the terms of each Investment Management Agreement are reasonable and fair in light of the services to be performed, expenses to be incurred and such other matters as the Trustees considered relevant in the exercise of their reasonable judgment. The Trustees further concluded that, at the time of their considerations, each Investment Management Agreement is in the best interest of each Fund and such Fund’s shareholders.

At a meeting held on June 7, 2022 (the “Renewal Meeting”), the Board of Trustees (the “Board”) of VanEck^®ETF Trust (the “Trust”), including all of the Trustees that are not interested persons of the Trust (the “Independent Trustees”), approved the continuation of the investment management agreement between the Trust and Van Eck Associates Corporation (the “Adviser”) (the “Investment Management Agreement”) with respect to the VanEck Muni Allocation ETF (the “Fund”).

The Board’s approval of the Investment Management Agreement was based on a comprehensive consideration of all of the information available to the Trustees and was not the result of any single factor. Some of the factors that figured particularly in the Trustees’ deliberations and how the Trustees considered those factors are described below, although individual Trustees may have evaluated the information presented differently, giving different weights to various factors.

In preparation for the Renewal Meeting, the Trustees held a meeting on May 6, 2022. At that meeting, the

Trustees discussed the information that the Adviser and Broadridge Financial Solutions, Inc. (“Broadridge”), an independent third party data provider, had provided to them in advance. The information provided to the Trustees included, among other things, information about the performance and expenses of the Fund and the Fund’s peer funds (certain other exchange-traded funds (“ETFs”)), information about the advisory services provided to the Fund and the personnel providing those services, and the absence of profitability and the benefits enjoyed by the Adviser and its affiliates as a result of the Adviser’s relationship with the Fund. In addition, as noted below, the Trustees reviewed certain performance information for the Fund which was not provided by Broadridge and which did not compare the Fund’s performance to the performance of its peer group. The Trustees noted that the peer group performance information did not necessarily provide meaningful direct comparisons to the Fund.

The Independent Trustees’ consideration of the Investment Management Agreement was based, in part, on their review of information obtained through discussions with the Adviser at the Renewal Meeting and with the Adviser at the May 6, 2022 meeting regarding the management of the Fund and information obtained at other meetings of the Trustees and/or based on their review of the materials provided by the Adviser, including the background and experience of the portfolio managers and others involved in the management and administration of the Fund. The Trustees considered the terms of, and scope of services that the Adviser provides under, the Investment Management Agreement, including the Adviser’s agreement to pay all of the direct expenses of the Fund (excluding the fee payment under the Investment Management Agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses).

In evaluating the performance of the Fund, the Trustees reviewed various performance metrics, including various data from Broadridge comparing the Fund’s performance to that of certain other ETFs. The Trustees also considered information from the Adviser regarding performance of the Fund against its benchmark. The Trustees noted that the Fund had outperformed its benchmark for the one-period ended December 31, 2021 and underperformed its benchmark for the two-year period ended December 31, 2021 and the period since its inception on May 15, 2019 through December 31, 2021. They noted the Fund’s underperformance was largely attributable to the first quarter of 2020 and for the period from March 31, 2020 through December 31, 2021, the Fund had outperformed its benchmark. Based on the foregoing, the Trustees concluded that the Adviser and its personnel have the requisite expertise and skill to manage the Fund’s portfolio.

The Trustees also considered information relating to the financial condition of the Adviser and the current status, as they understood it, of the Adviser’s compliance environment.

As noted above, the Trustees were also provided various data from Broadridge comparing the Fund’s expenses and performance to that of certain other ETFs. The Trustees noted that the information provided showed that the Fund had management fees below the average and median of its peer group of funds. The Trustees also noted that the information provided showed that the Fund had a total expense ratio below the average and median of its peer group of funds. The Trustees concluded, in light of this information and the other information available to them, that the fees paid by the Fund were reasonable in light of the performance of the Fund and the quality of services received.

The Trustees also considered the benefits, other than the fees under the Investment Management Agreement, received by the Adviser from serving as adviser to the Fund.

the unitary fee structure arrangement and the potential expense stability that may inure to the benefit of shareholders. Based on the foregoing and the other information available to them, the Trustees determined that the advisory fee rate for the Fund is reasonable and appropriate in relation to the current asset size of the Fund and the other factors discussed above and that the advisory fee rate for the Fund currently reflects an appropriate sharing with shareholders of any economies of scale which may exist.

The Independent Trustees were advised by and met in executive session with their independent counsel at the Renewal Meeting and at their May 6, 2022 meeting as part of their consideration of the Investment Management Agreement.

In voting to approve the continuation of the Investment Management Agreement, the Trustees, including the Independent Trustees, concluded that the terms of the Investment Management Agreement are reasonable and fair in light of the services to be performed, expenses to be incurred and such other matters as the Trustees considered relevant in the exercise of their reasonable judgment. The Trustees further concluded that, at the time of their considerations, the Investment Management Agreement is in the best interest of the Fund and the Fund’s shareholders.

At a meeting held on June 7, 2022 (the “Renewal Meeting”), the Board of Trustees (the “Board”) of VanEck^®ETF Trust (the “Trust”), including all of the Trustees that are not interested persons of the Trust (the “Independent Trustees”), approved the continuation of the investment management agreement between the Trust and Van Eck Associates Corporation (the “Adviser”) (the “Investment Management Agreement”) with respect to the VanEck HIP Sustainable Muni ETF (the “Fund”).

In preparation for the Renewal Meeting, the Trustees held a meeting on May 6, 2022. At that meeting, the Trustees discussed the information the Adviser and Broadridge Financial Solutions, Inc. (“Broadridge”), an independent third party data provider, had provided to them in advance. The information provided to the Trustees included, among other things, information about the performance and expenses of the Fund and the Fund’s peer funds (certain other exchange-traded funds (“ETFs”)), information about the advisory services provided to the Fund and the personnel providing those services, and the profitability (or the absence of profitability) and the benefits enjoyed by the Adviser and its affiliates as a result of the Adviser’s relationship with the Fund. In addition, as noted below, the Trustees reviewed certain performance information for the Fund which was not provided by Broadridge and which did not compare the Fund’s performance to the performance of its peer group. The Trustees noted that the peer group performance information did not necessarily provide meaningful direct comparisons to the Fund.

The Independent Trustees’ consideration of the Investment Management Agreement was based, in part, on their review of information obtained through discussions with the Adviser at the Renewal Meeting and the May 6, 2022 meeting regarding the management of the Fund and information obtained at other meetings of the Trustees and/or based on their review of the materials provided by the Adviser, including the background and experience of the portfolio managers and others involved in the management and administration of the Fund. The Trustees also considered the terms of, and scope of services that the Adviser provides, under the Investment Management Agreement, including the Adviser’s agreement to pay all of the direct expenses of the Fund (excluding the fee payment under the Investment Management Agreement, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses).

The Trustees noted that the Fund had outperformed its benchmark for the period since its inception on September 8, 2021 through December 31, 2021. Based on the foregoing, the Trustees concluded that the Adviser and its personnel have the requisite expertise and skill to manage the Fund’s portfolio.

The Trustees also considered information relating to the financial condition of the Adviser and the current status, as they understood it, of the Adviser’s compliance environment.

As noted above, the Trustees were also provided various data from Broadridge comparing the Fund’s expenses and performance to that of certain other ETFs. The Trustees noted that the information provided showed that the Fund had management fees below the average and equal to the median of its peer group of funds. The Trustees also noted that the information provided showed that the Fund had a total expense ratio below the average and the median of its peer group of funds. The Trustees concluded, in light of this information and the other information available to them, that the fees paid by the Fund were reasonable in light of the performance of the Fund and the quality of services received.

The Trustees also considered the benefits, other than the fees under the Investment Management Agreement, received by the Adviser from serving as adviser to the Fund.

The Trustees also considered information provided by the Adviser about the overall profitability of the Adviser and the fact that the Adviser did not earn any profits from managing the Fund. The Trustees reviewed the Fund’s asset size and expense ratio and noted that the Investment Management Agreement does not include breakpoints in the advisory fee rates as asset levels in the Fund increase. The Trustees considered the volatility of the asset classes in which the Fund invests, potential variability in the net assets of the Fund and the sustainability of any potential economies of scale which may exist given where fees are currently set. The Trustees also evaluated the extent to which management fees for the Fund may effectively incorporate the benefits of economies of scale. The Trustees also considered the risks being assumed by the Adviser under the unitary fee structure arrangement and the potential expense stability that may inure to the benefit of shareholders. Based on the foregoing and the other information available to them, the Trustees determined that the advisory fee rate for the Fund is reasonable and appropriate in relation to the current asset size of the Fund and the other factors discussed above and that the advisory fee rate for the Fund currently reflects an appropriate sharing with shareholders of any economies of scale which may exist.

VanEck CLO ETF, VanEck Green Infrastructure ETF, VanEck Muni ETF and VanEck Morningstar SMID Moat ETF

At a meeting held on June 7, 2022 (the “Meeting”), the Board of Trustees (the “Board”) of VanEck^®ETF Trust (the “Trust”), including all of the Trustees that are not interested persons of the Trust (the “Independent Trustees”), considered and approved the investment management agreements between the Trust and Van Eck Associates Corporation (the “Adviser”) (the “Investment Management Agreements”) with respect to the VanEck CLO ETF, VanEck Green Infrastructure ETF, VanEck Muni ETF and VanEck Morningstar SMID Moat ETF (each, a “Fund” and together, the “Funds”) and (ii) a sub-advisory agreement between the Adviser and PineBridge Investments LLC (the “Sub-Adviser”) (the “Sub-Advisory Agreement”) with respect to VanEck CLO ETF. The Investment Management Agreements and the Sub-Advisory Agreement are collectively referred to as the “Agreements.”

The Board’s approval of the Agreements was based on a comprehensive consideration of all of the information available to the Trustees and was not the result of any single factor. Some of the factors

that figured particularly in the Trustees’ deliberations and how the Trustees considered those factors are described below, although individual Trustees may have evaluated the information presented differently, giving different weights to various factors.

In advance of the Meeting, the Trustees received materials from the Adviser and the Sub-Adviser (with respect to the VanEck CLO ETF), including expense information for other funds. The Adviser and the Sub-Adviser (with respect to the VanEck CLO ETF) provided the Trustees with information regarding, among other things, the various aspects of the Funds’ proposed investment programs, fee arrangements and service provider arrangements, as well as the rationale for retaining a sub-adviser to manage the VanEck CLO ETF’s investments in collateralized loan obligation (“CLO”) securities. The Independent Trustees’ consideration of the Agreements was based, in part, on their review of information obtained through discussions with the Adviser and the Sub-Adviser (with respect to the VanEck CLO ETF) at the Meeting regarding the management of the Funds, information obtained at other meetings of the Trustees and/or based on their review of the materials provided by the Adviser and the Sub-Adviser (with respect to the VanEck CLO ETF), including the background and experience of the portfolio managers and others proposed to be involved in the management and administration of the Funds. The Trustees also considered the terms and scope of services that the Adviser and the Sub-Adviser (with respect to the VanEck CLO ETF) would provide under each Agreement, including (i) the Adviser’s agreement to pay all of the direct expenses of each of the VanEck CLO ETF, VanEck Green Infrastructure ETF and VanEck Muni ETF (excluding the fee payment under the respective Investment Management Agreements, acquired fund fees and expenses, interest expense, offering costs, trading expenses, taxes and extraordinary expenses), and (ii) the Adviser’s commitment to waive certain fees and/or pay expenses of the VanEck Morningstar SMID Moat ETF to the extent necessary to prevent the operating expenses of the Fund from exceeding an agreed-upon limit for a period of time. With respect to the VanEck CLO ETF, the Trustees noted the Sub-Adviser’s experience and investment management process with respect to investments in CLO securities and the Sub-Adviser’s experience serving as a sub-adviser for other registered investment companies. The Trustees also considered the sub-advisory fees to be paid to the Sub-Adviser by the Adviser, and the advisory fees to be retained by the Adviser under the Sub-Advisory Agreement.

The Trustees considered the benefits, other than the fees under the Agreements, that the Adviser would receive from serving as adviser to the Funds. The Trustees did not consider historical information about the cost of the services to be provided by the Adviser and the Sub-Adviser (with respect to the VanEck CLO ETF) or the profitability of the Funds to the Adviser and the Sub-Adviser (with respect to the VanEck CLO ETF) because the Funds had not yet commenced operations. In addition, because the Funds had not yet commenced operations, the Trustees could not consider the historical performance or actual management fees or operating expenses of, or the quality of services previously provided to, the Funds by the Adviser and the Sub-Adviser (with respect to the VanEck CLO ETF), although they concluded that the nature, quality and extent of the services to be provided by the Adviser and the Sub-Adviser (with respect to the VanEck CLO ETF) were appropriate based on the Trustees’ knowledge of the Adviser and its personnel and the operations of the other series of the Trust, as well as the information provided by the Sub-Adviser (with respect to the VanEck CLO ETF) about its personnel and operations.

The Independent Trustees were advised by and met in executive session with their independent counsel at the Meeting as part of their consideration of the Agreements.

In voting to approve the Agreements, the Trustees, including the Independent Trustees, concluded that the terms of the Agreements are reasonable and fair in light of the services to be performed, expenses to be incurred and such other matters as the Trustees considered relevant in the exercise of their reasonable judgment. The Trustees further concluded that the Agreements are in the best interest of the Funds and the Funds’ shareholders.

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by a VanEck ETF Trust (the “Trust”) prospectus and summary prospectus, which includes more complete information. Investing involves substantial risk and high volatility, including possible loss of principal. An investor should consider the investment objective, risks, charges and expenses of the Fund carefully before investing. To obtain a prospectus and summary prospectus, which contains this and other information, call 800.826.2333 or visit vaneck.com. Please read the prospectus and summary prospectus carefully before investing.

Additional information about the Trust’s Board of Trustees/Officers and a description of the policies and procedures the Trust uses to determine how to vote proxies relating to portfolio securities are provided in the Statement of Additional Information. The Statement of Additional Information and information regarding how the Trust voted proxies relating to portfolio securities during the most recent twelve month period ending June 30 is available, without charge, by calling 800.826.2333, or by visiting vaneck.com, or on the Securities and Exchange Commission’s website at http://www.sec.gov.

The Trust files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year on Form N-PORT. The Trust’s Form N-PORT filings are available on the Commission’s website at http://www.sec.gov and may be reviewed and copied at the Commission’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling 202.942.8090. The Funds’ complete schedules of portfolio holdings are also available by calling 800.826.2333 or by visiting vaneck.com.

	Beginning Account Value May 1, 2022	Ending Account Value October 31, 2022	Annualized Expense Ratio During Period	Expenses Paid During the Period May 1, 2022 - October 31, 2022(a)
CEF Muni Income ETF
Actual	$1,000.00	$865.90	0.41%	$1.93
Hypothetical (b)	$1,000.00	$1,023.14	0.41%	$2.09
High Yield Muni ETF
Actual	$1,000.00	$905.40	0.35%	$1.68
Hypothetical (b)	$1,000.00	$1,023.44	0.35%	$1.79
HIP Sustainable Muni ETF
Actual	$1,000.00	$955.10	0.24%	$1.18
Hypothetical (b)	$1,000.00	$1,024.00	0.24%	$1.22
Intermediate Muni ETF
Actual	$1,000.00	$962.90	0.24%	$1.19
Hypothetical (b)	$1,000.00	$1,024.00	0.24%	$1.22
Long Muni ETF
Actual	$1,000.00	$904.60	0.24%	$1.15
Hypothetical (b)	$1,000.00	$1,024.00	0.24%	$1.22
Muni Allocation ETF
Actual	$1,000.00	$932.30	0.08%	$0.39
Hypothetical (b)	$1,000.00	$1,024.80	0.08%	$0.41
Short High Yield Muni ETF
Actual	$1,000.00	$960.70	0.35%	$1.73
Hypothetical (b)	$1,000.00	$1,023.44	0.35%	$1.79

	Beginning Account Value May 1, 2022	Ending Account Value October 31, 2022	Annualized Expense Ratio During Period	Expenses Paid During the Period May 1, 2022 - October 31, 2022(a)
Short Muni ETF
Actual	$1,000.00	$989.80	0.20%	$1.00
Hypothetical (b)	$1,000.00	$1,024.20	0.20%	$1.02

^(a)	Expenses are equal to the Fund’s annualized expense ratio (for the six months ended October 31, 2022), multiplied by the average account value over the period, multiplied by the number of days in the most recent fiscal half year divided by the number of the days in the fiscal year (to reflect the one-half year period).
^(b)	Assumes annual return of 5% before expenses

	Number of Shares		Value
Pioneer Municipal High Income Advantage Fund, Inc.		122,675	$	912,702
Pioneer Municipal High Income Fund Trust		125,679		1,002,918
Pioneer Municipal High Income Opportunities Fund, Inc.		96,801		919,610
Putnam Managed Municipal Income Trust		154,594		888,916
Putnam Municipal Opportunities Trust		91,629		948,360
Western Asset Managed Municipals Fund, Inc.		224,676		2,132,175
Total Closed-End Funds: 99.9% (Cost: $188,743,312)				131,035,662
Other assets less liabilities: 0.1%				176,169
NET ASSETS: 100.0%			$	131,211,831

		Value 4/30/2022		Purchases		Sales Proceeds		Realized Gain (Loss)		Dividend Income		Net Change in Unrealized Appreciation (Depreciation)		Value 10/31/2022
Invesco Quality Municipal Income Trust		$–(a)		$587,578		$(570,228)		$(76,402)		$69,914		$(312,424)		$2,409,138

CEF Muni Income ETF	XMPT
High Yield Muni ETF	HYD
HIP Sustainable Muni ETF	SMI
Intermediate Muni ETF	ITM
Long Muni ETF	MLN
Muni Allocation ETF	MAAX
Short High Yield Muni ETF	SHYD
Short Muni ETF	SMB

President’s Letter	1
Explanation of Expenses	3
Schedule of Investments
CEF Muni Income ETF	5
High Yield Muni ETF	7
HIP Sustainable Muni ETF	50
Intermediate Muni ETF	53
Long Muni ETF	92
Muni Allocation ETF	108
Short High Yield Muni ETF	110
Short Muni ETF	130
Statements of Assets and Liabilities	146
Statements of Operations	148
Statements of Changes in Net Assets	150
Financial Highlights
CEF Muni Income ETF	154
High Yield Muni ETF	155
HIP Sustainable Muni ETF	156
Intermediate Muni ETF	157
Long Muni ETF	158
Muni Allocation ETF	159
Short High Yield Muni ETF	160
Short Muni ETF	161
Notes to Financial Statements	162
Approval of Investment Management Agreements	169

(a)	Each underlying fund’s shareholder reports and registration documents are available free of charge on the SEC’s website at https://www.sec.gov.
‡	Affiliated issuer – as defined under the Investment Company Act of 1940.

Summary of Investments by Sector		% of Investments			Value
Financials		100.0%		$	131,035,662

		Level 1 Quoted Prices				Level 2 Significant Observable Inputs				Level 3 Significant Unobservable Inputs				Value
Closed-End Funds		$	131,035,662			$	—			$	—			$	131,035,662

Definitions:

ACA		Credit Agricole SA
AGC		Assured Guaranty Corp.
AGM		Assured Guaranty Municipal Corp.
AMBAC		American Municipal Bond Assurance Corp.
BAM		Build America Assurance Co.
CP		Certificate of Participation
GO		General Obligation
NATL		National Public Finance Guarantee Corp.
RB		Revenue Bond
SA		Special Assessment
SAW		State Aid Withholding
SBG		School Board Guaranteed
SD CRED PROG		Special District Credit Enhancement Program
ST		Special Tax
TA		Tax Allocation
XLCA		Syncora Guarantee, Inc.

(c)	Callable Security — the redemption date shown is when the security may be redeemed by the issuer
(p)	Putable Security — the redemption date shown is when the security may be redeemed by the investor
^	Zero Coupon Bond
*	Non-income producing
(d)	Security in default

Summary of Investments by Sector	% of Investments			Value
Airport		5.0	%	$	834,162
Education		6.3			1,059,526
Hospitals		7.3			1,223,937
Leasing COPS & Appropriations		1.5			256,637
Local GO		12.1			2,038,585
Misc		1.6			259,405
Power		4.7			789,084
Refunded		5.7			949,603
State GO		17.5			2,936,538
Tax		18.6			3,129,758
Toll & Turnpike		3.4			569,033
Transportation		7.8			1,312,271
Water & Sewer		8.5			1,430,083
		100.0	%	$	16,788,622

		Level 1 Quoted Prices			Level 2 Significant Observable Inputs			Level 3 Significant Unobservable Inputs			Value
Municipal Bonds ^*		$	—		$	16,788,622		$	—		$	16,788,622


*	See Schedule of Investments for geographic sector breakouts.


		800.826.2333	vaneck.com

	% of
Summary of Investments by Sector	Investments			Value
Airport		4.2	%	$	8,454,682
Education		8.1			16,518,047
Health		1.9			3,932,745
Hospitals		13.9			28,106,902
Industrial Development Revenue		0.8			1,713,347
Leasing COPS & Appropriations		3.6			7,240,585
Local GO		12.9			26,197,228
Misc		1.0			2,105,018
Multi-Family Housing		1.7			3,341,289
Pollution Control		0.3			525,252
Power		3.9			8,005,344
Single Family Housing		2.7			5,448,419
State GO		5.5			11,184,245
Tax		14.6			29,533,674
Tobacco		0.8			1,695,005
Toll & Turnpike		7.8			15,851,349
Transportation		5.0			10,043,632
Utilities - Other		1.8			3,622,555
Water & Sewer		9.5			19,307,401
		100.0	%	$	202,826,719

	Value 4/30/2022		Purchases		Sales Proceeds		Realized Gain (Loss)		Dividend Income		Net Change in Unrealized Appreciation (Depreciation)		Value 10/31/2022
VanEck CEF Muni Income ETF		$–		$31,870		$–		$–		$499		$(5,794)		$26,076
VanEck High Yield Muni ETF		939,816		141,738		(360,153)		(32,898)		12,901		(46,947)		641,556
VanEck Intermediate Muni ETF		1,295,527		139,319		(445,432)		(36,651)		10,637		(6,771)		945,992
VanEck Long Muni ETF		176,436		289,837		(436,540)		(48,475)		3,139		18,742		–
VanEck Short High Yield Muni ETF		194,314		–		(45,470)		(1,778)		2,070		(5,195)		141,871
VanEck Short Muni ETF		570,318		395,776		(456,011)		(8,018)		2,157		3,306		505,371
		$3,176,411		$998,540		$(1,743,606)		$(127,820)		$31,403		$(42,659)		$2,260,866

Footnotes:

(c)	Callable Security — the redemption date shown is when the security may be redeemed by the issuer
(p)	Putable Security — the redemption date shown is when the security may be redeemed by the investor
*	Non-income producing
(d)	Security in default
^	Zero Coupon Bond

Summary of Investments by Sector	% of Investments			Value
Airport		1.7	%	$	5,546,831
Education		4.0			13,113,105
Hospitals		5.3			17,446,117
Industrial Development Revenue		0.2			683,393
Leasing COPS & Appropriations		4.3			14,088,158
Local GO		13.3			43,486,843
Misc		1.3			4,379,124
Multi-Family Housing		1.3			4,102,705
Pollution Control		0.1			264,385
Power		4.2			13,851,484
Refunded		12.5			40,835,255
State GO		18.9			61,879,804
Tax		7.6			24,853,503
Tobacco		0.6			1,929,024
Toll & Turnpike		4.0			13,081,342
Transportation		7.0			22,976,870
Unassigned		0.0			142,514
Utilities - Other		8.3			26,995,665
Water & Sewer		5.4			17,621,973
		100.0	%	$	327,278,095

	CEF Muni Income			High Yield Muni			HIP Sustainable			Intermediate
	ETF			ETF			Muni ETF			Muni ETF
Assets:
Investments, at value
Unaffiliated issuers (1)	$	128,626,524		$	2,591,233,561		$	16,788,622		$	1,624,141,100
Affiliated issuers (2)		2,409,138			—			—			—
Cash		475			18,047,248			314,681			6,751,076
Receivables:
Investment securities sold		—			9,616,052			—			3,267,294
Shares of beneficial interest sold		994,026			14,710,880			—			—
Dividends and interest		424,691			44,600,748			246,831			21,536,106
Total assets		132,454,854			2,678,208,489			17,350,134			1,655,695,576
Liabilities:
Payables:
Investment securities purchased		994,113			14,959,655			—			6,296,700
Shares of beneficial interest redeemed		—			9,798,644			—			—
Line of credit		198,088			—			—			—
Due to Adviser		45,353			820,385			3,571			329,138
Deferred Trustee fees		4,195			3,184			—			3,000
Accrued expenses		1,274			—			—			—
Total liabilities		1,243,023			25,581,868			3,571			6,628,838
NET ASSETS	$	131,211,831		$	2,652,626,621		$	17,346,563		$	1,649,066,738
Shares outstanding		6,600,000			54,096,401			400,000			37,848,916
Net asset value, redemption and offering price per share	$	19.88		$	49.04		$	43.37		$	43.57
Net Assets consist of:
Aggregate paid in capital	$	203,565,802		$	3,363,013,703		$	19,518,632		$	1,867,707,793
Total distributable earnings (loss)		(72,353,971	)		(710,387,082	)		(2,172,069	)		(218,641,055	)
NET ASSETS	$	131,211,831		$	2,652,626,621		$	17,346,563		$	1,649,066,738
(1) Cost of investments - Unaffiliated issuers	$	185,269,165		$	3,062,065,530		$	18,935,132		$	1,821,932,895
(2) Cost of investments - Affiliated issuers	$	3,474,147		$	—		$	—		$	—

				Muni Allocation			Short High Yield
	Long Muni ETF			ETF			Muni ETF			Short Muni ETF
Assets:
Investments, at value
Unaffiliated issuers (1)	$	202,826,719		$	330,053		$	402,283,889		$	327,278,095
Affiliated issuers (2)		—			2,260,866			—			—
Cash		600,858			1,493			2,030,234			1,832,935
Receivables:
Investment securities sold		—			—			17,968			461,379
Dividends and interest		2,996,688			516			6,404,839			4,485,727
Total assets		206,424,265			2,592,928			410,736,930			334,058,136
Liabilities:
Payables:
Investment securities purchased		—			—			—			1,108,419
Due to Adviser		42,942			178			121,291			57,114
Deferred Trustee fees		1,517			—			—			1,600
Accrued expenses		—			—			100			—
Total liabilities		44,459			178			121,391			1,167,133
NET ASSETS	$	206,379,806		$	2,592,750		$	410,615,539		$	332,891,003
Shares outstanding		12,600,000			130,000			18,950,000			20,050,000
Net asset value, redemption and offering price per share	$	16.38		$	19.94		$	21.67		$	16.60
Net Assets consist of:
Aggregate paid in capital	$	258,346,421		$	3,881,812		$	474,089,756		$	355,525,412
Total distributable earnings (loss)		(51,966,615	)		(1,289,062	)		(63,474,217	)		(22,634,409	)
NET ASSETS	$	206,379,806		$	2,592,750		$	410,615,539		$	332,891,003
(1) Cost of investments - Unaffiliated issuers	$	249,015,192		$	485,222		$	452,391,259		$	345,586,915
(2) Cost of investments - Affiliated issuers	$	—		$	2,552,405		$	—		$	—

	CEF Muni Income ETF						High Yield Muni ETF
	Period Ended			Year Ended			Period Ended			Year Ended
	October 31, 2022			April 30, 2022			October 31, 2022			April 30, 2022
	(unaudited)						(unaudited)
Operations:
Net investment income	$	3,732,530		$	8,141,777		$	55,306,447		$	122,609,689
Net realized gain (loss)		(7,139,812	)		6,852,427			(162,520,333	)		(21,991,122	)
Net change in unrealized appreciation (depreciation)		(17,587,853	)		(50,282,573	)		(181,311,154	)		(393,264,600	)
Net decrease in net assets resulting from operations		(20,995,135	)		(35,288,369	)		(288,525,040	)		(292,646,033	)
Distributions to shareholders from:
Distributable earnings		(3,825,430	)		(7,955,563	)		(56,779,454	)		(124,522,449	)

Share transactions*:
Proceeds from sale of shares		19,675,276			157,298,802			988,424,889			985,416,843
Cost of shares redeemed		(33,050,076	)		(121,225,806	)		(1,008,442,633	)		(1,011,621,866	)
Increase (decrease) in net assets resulting from share transactions		(13,374,800	)		36,072,996			(20,017,744	)		(26,205,023	)
Total decrease in net assets		(38,195,365	)		(7,170,936	)		(365,322,238	)		(443,373,505	)
Net Assets, beginning of period		169,407,196			176,578,132			3,017,948,859			3,461,322,364
Net Assets, end of period	$	131,211,831		$	169,407,196		$	2,652,626,621		$	3,017,948,859
*Shares of Common Stock Issued (no par value)
Shares sold		850,000			5,375,000			18,700,000			15,900,000
Shares redeemed		(1,450,000	)		(4,250,000	)		(19,300,000	)		(16,600,000	)
Net increase (decrease)		(600,000	)		1,125,000			(600,000	)		(700,000	)


(a)	For the period September 9, 2021 (commencement of operations) through April 30, 2022.

	CEF Muni Income ETF
	Period			Year Ended April 30,
	Ended October 31, 2022			2022			2021			2020			2019			2018
	(unaudited)
Net asset value, beginning of period		$23.53			$29.07			$24.34			$26.18			$24.97			$26.58
Net investment income (a)		0.55			1.14			1.14			1.09			1.16			1.27
Net realized and unrealized gain (loss) on investments		(3.63)			(5.56)			4.71			(1.83)			1.21			(1.61)
Total from investment operations		(3.08)			(4.42)			5.85			(0.74)			2.37			(0.34)
Distributions from:
Net investment income		(0.57)			(1.12)			(1.12)			(1.10)			(1.16)			(1.27)
Net asset value, end of period		$19.88			$23.53			$29.07			$24.34			$26.18			$24.97
Total return (b)		(13.41)	%(c)		(15.82)	%		24.38	%		(3.17)	%		9.83	%		(1.45)	%

Ratios to average net assets
Gross expenses (d)(e)		0.41	%(f)		0.40	%		0.40	%		0.45	%		0.48	%		0.50	%
Net expenses (d)(e)		0.41	%(f)		0.40	%		0.40	%		0.40	%		0.40	%		0.40	%
Net expenses excluding interest (d)(e)		0.40	%(f)		0.40	%		0.40	%		0.40	%		0.40	%		0.40	%
Net investment income (d)		4.83	%(f)		4.01	%		4.17	%		4.02	%		4.67	%		4.78	%
Supplemental data
Net assets, end of period (in millions)		$131			$169			$177			$142			$144			$95
Portfolio turnover rate (g)		9	%(c)		15	%		11	%		10	%		13	%		9	%

(a)	Calculated based upon average shares outstanding
(b)	Returns include adjustments in accordance with U.S. Generally Accepted Accounting Principles. Net asset values and returns for financial reporting purposes may differ from those for shareholder transactions.
(c)	Not Annualized
(d)	The ratios presented do not reflect the Fund’s proportionate share of income and expenses from the Fund’s investment in underlying funds.
(e)	Periods after November 1, 2019 reflect a unitary management fee structure.
(f)	Annualized
(g)	Portfolio turnover rate excludes in-kind transactions.

	High Yield Muni ETF(a)
	Period			Year Ended April 30,
	Ended October 31, 2022			2022			2021			2020			2019			2018
	(unaudited)
Net asset value, beginning of period		$55.18			$62.48			$56.13			$62.79			$62.16			$61.52
Net investment income (b)		0.98			2.09			2.36			2.69			2.67			2.72
Net realized and unrealized gain (loss) on investments		(6.12)			(7.27)			6.38			(6.73)			0.64			0.60
Total from investment operations		(5.14)			(5.18)			8.74			(4.04)			3.31			3.32
Distributions from:
Net investment income		(1.00)			(2.12)			(2.39)			(2.62)			(2.68)			(2.68)
Net asset value, end of period		$49.04			$55.18			$62.48			$56.13			$62.79			$62.16
Total return (c)		(9.46)	%(d)		(8.62)	%		15.84	%		(6.86)	%		5.46	%		5.48	%

Ratios to average net assets
Expenses		0.35	%(e)		0.35	%		0.35	%		0.35	%		0.35	%		0.35	%
Net investment income		3.65	%(e)		3.38	%		3.91	%		4.26	%		4.31	%		4.37	%
Supplemental data
Net assets, end of period (in millions)		$2,653			$3,018			$3,461			$2,570			$2,656			$2,437
Portfolio turnover rate (f)		7	%(d)		11	%		9	%		12	%		10	%		14	%

(a)	On October 26, 2018, the Fund effected a 1 for 2 reverse share split (See Note 10). Per share data has been adjusted to reflect the reverse share split.
(b)	Calculated based upon average shares outstanding
(c)	Returns include adjustments in accordance with U.S. Generally Accepted Accounting Principles. Net asset values and returns for financial reporting purposes may differ from those for shareholder transactions.
(d)	Not Annualized
(e)	Annualized
(f)	Portfolio turnover rate excludes in-kind transactions.

	HIP Sustainable Muni ETF
	Period Ended October 31, 2022			Period Ended April 30, 2022(a)
	(unaudited)
Net asset value, beginning of period		$45.66			$50.00
Net investment income (b)		0.28			0.10
Net realized and unrealized loss on investments		(2.32)			(4.22)
Total from investment operations		(2.04)			(4.12)
Distributions from:
Net investment income		(0.25)			(0.22)
Net asset value, end of period		$43.37			$45.66
Total return (c)		(4.49)	%(d)		(8.26)	%(d)

Ratios to average net assets
Expenses		0.24	%(e)		0.24	%(e)
Net investment income		1.23	%(e)		0.33	%(e)
Supplemental data
Net assets, end of period (in millions)		$17			$14
Portfolio turnover rate (f)		11	%(d)		11	%(d)

	Intermediate Muni ETF(a)
	Period			Year Ended April 30,
	Ended October 31, 2022			2022			2021			2020			2019			2018
	(unaudited)
Net asset value, beginning of period		$45.69			$51.62			$48.97			$48.94			$46.83			$47.40
Net investment income (b)		0.44			0.83			0.98			1.09			1.12			1.08
Net realized and unrealized gain (loss) on investments		(2.11)			(5.92)			2.72			0.10			2.11			(0.59)
Total from investment operations		(1.67)			(5.09)			3.70			1.19			3.23			0.49
Distributions from:
Net investment income		(0.45)			(0.84)			(0.98)			(1.10)			(1.12)			(1.06)
Net realized capital gains		—			—	(c)		(0.07)			(0.06)			—			—
Total distributions		(0.45)			(0.84)			(1.05)			(1.16)			(1.12)			(1.06)
Net asset value, end of period		$43.57			$45.69			$51.62			$48.97			$48.94			$46.83
Total return (d)		(3.71)	%(e)		(9.99)	%		7.59	%		2.40	%		6.98	%		1.04	%

Ratios to average net assets
Expenses		0.24	%(f)		0.24	%		0.24	%		0.24	%		0.24	%		0.24	%
Net investment income		1.91	%(f)		1.64	%		1.90	%		2.17	%		2.37	%		2.24	%
Supplemental data
Net assets, end of period (in millions)		$1,649			$1,695			$1,801			$1,582			$1,720			$1,698
Portfolio turnover rate (g)		7	%(e)		4	%		6	%		7	%		7	%		9	%

(a)	On October 26, 2018, the Fund effected a 1 for 2 reverse share split (See Note 10). Per share data has been adjusted to reflect the reverse share split.
(b)	Calculated based upon average shares outstanding
(c)	Amount represents less than $0.005 per share.
(d)	Returns include adjustments in accordance with U.S. Generally Accepted Accounting Principles. Net asset values and returns for financial reporting purposes may differ from those for shareholder transactions.
(e)	Not Annualized
(f)	Annualized
(g)	Portfolio turnover rate excludes in-kind transactions.

	Long Muni ETF
	Period			Year Ended April 30,
	Ended October 31, 2022			2022			2021			2020			2019			2018
	(unaudited)
Net asset value, beginning of period		$18.35			$21.68			$20.18			$20.40			$19.63			$19.63
Net investment income (a)		0.24			0.46			0.52			0.57			0.60			0.59
Net realized and unrealized gain (loss) on investments		(1.97)			(3.26)			1.54			(0.20)			0.77			0.01
Total from investment operations		(1.73)			(2.80)			2.06			0.37			1.37			0.60
Distributions from:
Net investment income		(0.24)			(0.46)			(0.52)			(0.57)			(0.60)			(0.60)
Net realized capital gains		—			(0.07)			(0.04)			(0.02)			—			—
Total distributions		(0.24)			(0.53)			(0.56)			(0.59)			(0.60)			(0.60)
Net asset value, end of period		$16.38			$18.35			$21.68			$20.18			$20.40			$19.63
Total return (b)		(9.54)	%(c)		(13.26)	%		10.31	%		1.75	%		7.15	%		3.02	%

Ratios to average net assets
Expenses		0.24	%(d)		0.24	%		0.24	%		0.24	%		0.24	%		0.24	%
Net investment income		2.65	%(d)		2.15	%		2.45	%		2.72	%		3.06	%		2.96	%
Supplemental data
Net assets, end of period (in millions)		$206			$216			$228			$200			$153			$154
Portfolio turnover rate (e)		14	%(c)		7	%		23	%		22	%		22	%		33	%

	Muni Allocation ETF
				Year Ended April 30,
	Period Ended October 31, 2022			2022			2021			Period Ended April 30, 2020(a)
	(unaudited)
Net asset value, beginning of period		$21.68			$24.95			$22.96			$25.05
Net investment income (b)		0.30			0.62			0.62			0.72
Net realized and unrealized gain (loss) on investments		(1.76)			(3.31)			2.05			(2.20)
Total from investment operations		(1.46)			(2.69)			2.67			(1.48)
Distributions from:
Net investment income		(0.28)			(0.58)			(0.68)			(0.61)
Net asset value, end of period		$19.94			$21.68			$24.95			$22.96
Total return (c)		(6.77)	%(d)		(11.03)	%		11.70	%		(6.13)	%(d)

Ratios to average net assets
Gross expenses (e)(f)		0.08	%(g)		0.08	%		0.08	%		1.28	%(g)
Net expenses (e)(f)		0.08	%(g)		0.08	%		0.08	%		0.08	%(g)
Net investment income (e)		2.79	%(g)		2.54	%		2.54	%		3.02	%(g)
Supplemental data
Net assets, end of period (in millions)		$3			$4			$5			$5
Portfolio turnover rate (h)		35	%(d)		98	%		169	%		162	%(d)

(a)	For the period May 15, 2019 (commencement of operations) through April 30, 2020.
(b)	Calculated based upon average shares outstanding
(c)	Returns include adjustments in accordance with U.S. Generally Accepted Accounting Principles. Net asset values and returns for financial reporting purposes may differ from those for shareholder transactions.
(d)	Not Annualized
(e)	The ratios presented do not reflect the Fund’s proportionate share of income and expenses from the Fund’s investment in underlying funds.
(f)	Periods after November 1, 2019 reflect a unitary management fee structure.
(g)	Annualized
(h)	Portfolio turnover rate excludes in-kind transactions.

	Short High Yield Muni ETF
	Period			Year Ended April 30,
	Ended October 31, 2022			2022			2021			2020			2019			2018
	(unaudited)
Net asset value, beginning of period		$22.86			$25.06			$23.09			$24.70			$24.24			$24.26
Net investment income (a)		0.29			0.58			0.73			0.84			0.80			0.76
Net realized and unrealized gain (loss) on investments		(1.18)			(2.18)			1.99			(1.64)			0.43			(0.02)
Total from investment operations		(0.89)			(1.60)			2.72			(0.80)			1.23			0.74
Distributions from:
Net investment income		(0.30)			(0.60)			(0.75)			(0.81)			(0.77)			(0.76)
Net asset value, end of period		$21.67			$22.86			$25.06			$23.09			$24.70			$24.24
Total return (b)		(3.93)	%(c)		(6.58)	%		11.89	%		(3.44)	%		5.16	%		3.07	%

Ratios to average net assets
Expenses		0.35	%(d)		0.35	%		0.35	%		0.35	%		0.35	%		0.35	%
Net investment income		2.55	%(d)		2.34	%		2.98	%		3.37	%		3.28	%		3.11	%
Supplemental data
Net assets, end of period (in millions)		$411			$418			$306			$263			$203			$135
Portfolio turnover rate (e)		11	%(c)		16	%		14	%		17	%		22	%		27	%

	Short Muni ETF
	Period			Year Ended April 30,
	Ended October 31, 2022			2022			2021			2020			2019			2018
	(unaudited)
Net asset value, beginning of period		$16.89			$18.04			$17.55			$17.54			$17.18			$17.52
Net investment income (a)		0.09			0.15			0.23			0.27			0.27			0.22
Net realized and unrealized gain (loss) on investments		(0.27)			(1.09)			0.51			0.02			0.36			(0.34)
Total from investment operations		(0.18)			(0.94)			0.74			0.29			0.63			(0.12)
Distributions from:
Net investment income		(0.11)			(0.19)			(0.25)			(0.28)			(0.27)			(0.22)
Net realized capital gains		—			(0.02)			—			—			—			—
Total distributions		(0.11)			(0.21)			(0.25)			(0.28)			(0.27)			(0.22)
Net asset value, end of period		$16.60			$16.89			$18.04			$17.55			$17.54			$17.18
Total return (b)		(1.02)	%(c)		(5.27)	%		4.27	%		1.66	%		3.70	%		(0.70)	%

Ratios to average net assets
Expenses		0.20	%(d)		0.20	%		0.20	%		0.20	%		0.20	%		0.20	%
Net investment income		1.09	%(d)		0.86	%		1.26	%		1.54	%		1.57	%		1.26	%
Supplemental data
Net assets, end of period (in millions)		$333			$328			$297			$204			$201			$220
Portfolio turnover rate (e)		9	%(c)		18	%		30	%		34	%		33	%		41	%