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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
210
Statements of Assets and Liabilities (Item 7)
214
Statements of Operations (Item 7)
216
Statements of Changes in Net Assets (Item 7)
222
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
†
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
†
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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Education 4.97%
California Community Choice
Financing Authority
4.943%
(SOFR * .67 + 1.70%)
#
5/1/2053
A1 $15,000,000 $ 15,057,822
California State University
0.55%
#
(b)
11/1/2049
Aa2 5,000,000
4,648,145
Capital Trust Agency, Inc.–Renaissance
Charter School Inc Series 2019
Obligated Group FL
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4.00% 6/15/2029
NR 1,050,000
1,028,773
Clifton Higher Education Finance
Corp.–International Leadership of
Texas Inc (PSF-GTD)
5.00% 8/15/2026
Aaa 1,000,000
1,043,516
Clifton Higher Education Finance
Corp.–International Leadership of
Texas Inc (PSF-GTD)
5.00% 8/15/2027
Aaa 1,400,000
1,493,668
Clifton Higher Education Finance
Corp.–International Leadership of
Texas Inc (PSF-GTD)
5.00% 8/15/2028
Aaa 800,000
869,918
Florida Higher Educational Facilities
Financial Authority–St Leo University Inc
Obligated Group
5.00%
3/1/2025
BB 675,000
670,109
Hospital Facilities Authority of
Multnomah County Oregon–Mirabella
South Waterfront
5.00% 10/1/2024
NR 335,000
335,000
Illinois Finance Authority–Illinois
Institute of Technology
5.00%
9/1/2028
Ba2 1,135,000
1,148,220
Illinois Finance Authority–Illinois
Institute of Technology
5.00%
9/1/2029
Ba2 630,000
639,291
Louisiana Public Facilities
Authority–Tulane University
5.00% 4/15/2037
A+ 1,250,000
1,453,273
Louisiana State Citizens
Property Insurance Corp.
5.00%
6/1/2025
A1 7,490,000
7,582,401
Louisiana State Citizens
Property Insurance Corp.
5.00%
6/1/2026
A1 6,740,000
6,990,360
New Jersey Educational Facilities
Authority–Montclair State
University Inc (AGM)
5.00%
7/1/2027
AA 1,445,000
1,541,927
New York State Dormitory
Authority–Pace University
5.00%
5/1/2025
BBB- 625,000
630,262
New York State Dormitory
Authority–Pace University
5.00%
5/1/2026
BBB- 1,375,000
1,414,724
New York State Dormitory
Authority–Pace University
5.00%
5/1/2027
BBB- 1,500,000
1,575,322
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Education (continued)
New York State Dormitory
Authority–Pace University
5.00%
5/1/2028
BBB- $ 1,480,000 $ 1,578,830
New York State Dormitory
Authority–Pace University
5.00%
5/1/2036
BBB- 2,500,000
2,816,274
New York State Dormitory
Authority–Pace University
5.00%
5/1/2037
BBB- 3,000,000
3,360,855
Northside Independent School
District TX (PSF-GTD)
3.45%
#(b)
8/1/2054
Aaa 4,000,000
4,064,918
Ohio Air Quality Development
Authority–Duke Energy Corp
4.00%
#(b)
9/1/2030
BBB 1,300,000
1,323,561
School District of Broward County
FL COPS
5.00%
7/1/2035
Aa3 5,000,000
5,701,225
Sierra Vista Industrial Development
Authority–American Leadership
Academy Inc AZ
†(c)
5.00% 6/15/2034
NR 625,000
654,940
University of Colorado
2.00%
#(b)
6/1/2054
Aa1 10,000,000
9,989,710
Total
77,613,044
Energy 0.54%
New Mexico Municipal Energy
Acquisition Authority
5.00%
#(b)
11/1/2039
Aa1 8,300,000
8,379,460
General Obligation 14.32%
California State Public Works Board
5.00% 10/1/2026
NR
90,000
94,884
California State Public Works Board
5.00% 10/1/2026
Aa3 1,410,000
1,486,239
California State Public Works Board
5.00% 10/1/2027
NR 205,000
221,673
California State Public Works Board
5.00% 10/1/2027
Aa3 3,095,000
3,330,839
City of Chicago IL GO
5.00%
1/1/2026
BBB+ 6,890,000
7,045,558
City of Chicago IL GO
5.00%
1/1/2027
BBB+ 6,400,000
6,665,065
City of Chicago IL GO
5.25%
1/1/2027
BBB+ 1,665,000
1,671,481
City of Hutto TX GO (BAM)
5.00%
8/1/2037
AA 3,715,000
4,258,329
City of Jersey City NJ GO
4.50% 7/10/2025
NR 10,000,000
10,105,929
City of Lees Summit MO GO
5.00%
4/1/2027
Aaa 3,960,000
4,206,638
Commonwealth Financing
Authority–Commonwealth of
Pennsylvania Department of
Community & Economic Development PA 5.00%
6/1/2025
A1 2,895,000
2,934,944
County of Cook IL GO
4.00% 11/15/2026
A+ 4,945,000
5,086,133
County of Lake IL GO
4.00% 11/30/2027
AAA 2,620,000
2,731,805
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