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Lord Abbett Municipal Income Fund
Short Duration Tax Free Fund
Intermediate Tax Free Fund
National Tax Free Fund
High Income Municipal Bond Fund
Short Duration High Income Municipal Bond Fund
Sustainable Municipal Bond Fund
California Tax Free Fund
New Jersey Tax Free Fund
New York Tax Free Fund
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Schedules of Investments (Item 7)
1 Short Duration Tax Free Fund
18 Intermediate Tax Free Fund
64 National Tax Free Fund
102 High Income Municipal Bond Fund
136 Short Duration High Income Municipal Bond Fund
160 Sustainable Municipal Bond Fund
164 California Tax Free Fund
181 New Jersey Tax Free Fund
192 New York Tax Free Fund
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Statements of Assets and Liabilities (Item 7)
214
Statements of Operations (Item 7)
216
Statements of Changes in Net Assets (Item 7)
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Financial Highlights (Item 7)
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Notes to Financial Statements (Item 7)
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Report of Independent Registered Public Accounting Firm (Item 7)
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Changes in and Disagreements with Accountants (Item 8)
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Proxy Disclosures (Item 9)
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Remuneration Paid to Directors, Officers, and Others (Item 10)
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LONG-TERM INVESTMENTS 81.56%
MUNICIPAL BONDS 81.56%
Corporate-Backed 5.15%
Allegheny County Industrial Development
Authority–United States Steel Corp PA
4.875%
11/1/2024
BB- $ 6,375,000 $ 6,381,528
Black Belt Energy Gas District AL
4.00%
#(b)
10/1/2052
A2 15,000,000
15,144,670
City of Farmington–Public Service
Co of New Mexico
3.90%
#(b)
6/1/2040
BBB 2,500,000
2,575,765
County of Nez Perce–PotlatchDeltic
Corp ID
2.75% 10/1/2024
BBB- 11,310,000
11,310,000
Development Authority of Burke
County–Oglethorpe Power Corp GA
1.50%
#(b)
1/1/2040
BBB+ 3,750,000
3,701,954
Industrial Development Board of the
City of Mobile Alabama–Alabama
Power Co AL
1.00%
#(b)
6/1/2034
A1 3,100,000
3,041,619
Industrial Development Board of the
City of Mobile Alabama–Alabama
Power Co AL
3.65%
#(b)
7/15/2034
A1 5,000,000
4,996,845
Iowa Finance Authority–Howmet
Aerospace Inc
4.75%
8/1/2042
Baa1 2,500,000
2,502,792
Niagara Area Development
Corp.–Covanta Holding Corp NY
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3.50%
11/1/2024
B
750,000
749,937
Ohio Air Quality Development
Authority–American Electric
Power Co Inc
2.40%
#(b)
12/1/2038
BBB 10,700,000
10,122,006
Ohio Air Quality Development
Authority–Ohio valley Electric Corp
1.50%
#(b)
2/1/2026
Baa3 1,000,000
964,518
Parish of St. James–NuStar Logistics
LP LA
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5.85%
#(b)
8/1/2041
BB+ 3,500,000
3,547,507
Parish of St. John the Baptist–Marathon
Oil Corp LA
2.375%
#(b)
6/1/2037
BBB- 4,575,000
4,496,628
Parish of St. John the Baptist–Marathon
Oil Corp LA
4.05%
#(b)
6/1/2037
BBB- 4,650,000
4,701,523
Virginia Resources Authority
5.00%
11/1/2036
Aa1 2,365,000
2,789,191
Virginia Resources Authority
5.00%
11/1/2038
Aa1 2,845,000
3,318,676
Total
80,345,159
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Date Moody’s
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