L
o
r
d
A
b
b
e
t
t
Q
u
a
r
t
e
r
l
y
P
o
r
t
f
o
l
i
o
H
o
l
d
i
n
g
s
R
e
p
o
r
t
Lord Abbett
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
F
o
r
t
h
e
p
e
r
i
o
d
e
n
d
e
d
D
e
c
e
m
b
e
r
3
1
,
2
0
2
4
S
e
e
N
o
t
e
s
t
o
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
.
1
LONG-TERM INVESTMENTS 81.77%
MUNICIPAL BONDS 81.77%
Corporate-Backed 4.38%
Black Belt Energy Gas District AL
4.00%
#(a)
10/1/2052
A2 $15,000,000 $ 15,006,182
City of Farmington - Public Service
Co of New Mexico
3.90%
#(a)
6/1/2040
BBB 2,500,000
2,528,874
Development Authority of Burke County -
Oglethorpe Power Corp GA
1.50%
#(a)
1/1/2040 BBB+ 3,750,000
3,737,581
Industrial Development Board of
the City of Mobile Alabama - Alabama
Power Co AL
1.00%
#(a)
6/1/2034
A1 3,100,000
3,057,789
Industrial Development Board of
the City of Mobile Alabama - Alabama
Power Co AL
3.65%
#(a)
7/15/2034
A1 5,000,000
4,999,768
Iowa Finance Authority - Howmet
Aerospace Inc
4.75%
8/1/2042
Baa1 2,500,000
2,502,083
Ohio Air Quality Development Authority -
American Electric Power Co Inc
2.40%
#(a)
12/1/2038
BBB 10,700,000
9,896,031
Ohio Air Quality Development Authority -
Ohio valley Electric Corp
1.50%
#(a)
2/1/2026
Baa3 1,000,000
969,471
Parish of St. James - NuStar Logistics
LP LA
†
5.85%
#(a)
8/1/2041
BB+ 3,500,000
3,524,778
Parish of St. John the Baptist - Marathon
Oil Corp LA
2.375%
#(a)
6/1/2037
A2 4,575,000
4,486,187
Parish of St. John the Baptist - Marathon
Oil Corp LA
3.30%
#(a)
6/1/2037
A2 5,000,000
4,925,168
Parish of St. John the Baptist - Marathon
Oil Corp LA
4.05%
#(a)
6/1/2037
A2 4,650,000
4,672,142
Virginia Resources Authority
5.00%
11/1/2036
Aa1 2,365,000
2,683,268
Virginia Resources Authority
5.00%
11/1/2038
Aa1 2,845,000
3,200,344
Total
66,189,666
Education 4.20%
California Community Choice Financing
Authority
4.735%
(SOFR * .67
+ 1.70%)
#
5/1/2053
A1 15,000,000 15,037,559
California State University
0.55%
#(a)
11/1/2049
Aa2 5,000,000
4,701,622
Capital Trust Agency, Inc. - Renaissance
Charter School Inc Series 2019 Obligated
Group FL
†
4.00%
6/15/2029
NR
950,000
920,575
Credit
Rating:
Interest Maturity S&P or Principal
Fair
Investments
Rate
Date Moody's Amount
Value
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
(
u
n
a
u
d
i
t
e
d
)
S
H
O
R
T
D
U
R
A
T
I
O
N
T
A
X
F
R
E
E
F
U
N
D
D
e
c
e
m
b
e
r
3
1
,
2
0
2
4
Education (continued)
Clifton Higher Education Finance Corp. -
International Leadership of Texas Inc
(PSF-GTD)
5.00%
8/15/2026
Aaa $ 1,000,000 $ 1,029,473
Clifton Higher Education Finance Corp. -
International Leadership of Texas Inc
(PSF-GTD)
5.00%
8/15/2027
Aaa 1,400,000
1,460,753
Clifton Higher Education Finance Corp. -
International Leadership of Texas Inc
(PSF-GTD)
5.00%
8/15/2028
Aaa
800,000
845,427
Florida Higher Educational Facilities
Financial Authority - St Leo University Inc
Obligated Group
5.00%
3/1/2025
BB
675,000
672,252
Illinois Finance Authority - Illinois
Institute of Technology
5.00%
9/1/2028
Ba2 1,135,000
1,146,266
Illinois Finance Authority - Illinois
Institute of Technology
5.00%
9/1/2029
Ba2
630,000
637,530
Louisiana Public Facilities Authority -
Tulane University
5.00%
4/15/2037
A+ 1,250,000
1,409,747
Louisiana State Citizens Property
Insurance Corp.
5.00%
6/1/2025
A1 7,490,000
7,540,586
Louisiana State Citizens Property
Insurance Corp.
5.00%
6/1/2026
A1 6,740,000
6,907,819
New Jersey Educational Facilities Authority -
Montclair State University Inc (AGM)
5.00%
7/1/2027
AA 1,445,000
1,514,419
New Jersey Educational Facilities
Authority - State of New Jersey
5.00%
8/1/2029
A2 2,500,000
2,693,885
New York State Dormitory Authority -
Pace University
5.00%
5/1/2025
BBB-
625,000
627,577
New York State Dormitory Authority -
Pace University
5.00%
5/1/2026
BBB- 1,375,000
1,400,095
New York State Dormitory Authority -
Pace University
5.00%
5/1/2027
BBB- 1,500,000
1,550,122
New York State Dormitory Authority -
Pace University
5.00%
5/1/2028
BBB- 1,480,000
1,546,989
New York State Dormitory Authority -
Pace University
5.00%
5/1/2036
BBB- 2,500,000
2,722,228
New York State Dormitory Authority -
Pace University
5.00%
5/1/2037
BBB- 3,000,000
3,249,404
Northside Independent School District
TX (PSF-GTD)
3.45%
#(a)
8/1/2054
Aaa 4,000,000
4,007,027
2
S
e
e
N
o
t
e
s
t
o
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
.
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
(
u
n
a
u
d
i
t
e
d
)
(
c
o
n
t
i
n
u
e
d
)
S
H
O
R
T
D
U
R
A
T
I
O
N
T
A
X
F
R
E
E
F
U
N
D
D
e
c
e
m
b
e
r
3
1
,
2
0
2
4
Credit
Rating:
Interest Maturity S&P or Principal
Fair
Investments
Rate
Date Moody’s Amount
Value
Education (continued)
Ohio Air Quality Development Authority -
Duke Energy Corp
4.00%
#
(a)
9/1/2030 BBB $ 1,300,000 $ 1,306,779
Sierra Vista Industrial Development
Authority - American Leadership
Academy Inc AZ
†
5.00%
6/15/2034
NR
625,000
642,812
Total
63,570,946
Energy 0.55%
New Mexico Municipal Energy Acquisition
Authority
5.00%
#(a)
11/1/2039
Aa1 8,300,000
8,329,440
General Obligation 12.26%
California State Public Works Board
5.00%
10/1/2026
NR
90,000
93,431
California State Public Works Board
5.00%
10/1/2026
Aa3 1,410,000
1,463,265
California State Public Works Board
5.00%
10/1/2027
NR
205,000
217,316
California State Public Works Board
5.00%
10/1/2027
Aa3 3,095,000
3,269,984
City of Chicago IL GO
5.00%
1/1/2026 BBB+ 6,890,000
6,970,636
City of Chicago IL GO
5.00%
1/1/2027 BBB+ 6,400,000
6,554,449
City of Hutto TX GO (BAM)
5.00%
8/1/2037
AA 3,715,000
4,132,787
City of Jersey City NJ GO
4.50%
7/10/2025
NR 10,000,000
10,062,911
City of Lees Summit MO GO
5.00%
4/1/2027
Aaa 3,960,000
4,135,608
Commonwealth Financing Authority -
Commonwealth of Pennsylvania
Department of Community & Economic
Development PA
5.00%
6/1/2025
Aa3 2,895,000
2,916,346
County of Cook IL GO
4.00% 11/15/2026
A+ 4,945,000
5,018,038
County of Lake IL GO
4.00% 11/30/2027
AAA 2,620,000
2,684,288
Delaware Valley Regional Finance
Authority PA
4.02%
(MUNIPSA * 1
+ .40%)
#
3/1/2057
A+ 6,070,000
6,023,066
Eagle Mountain & Saginaw Independent
School District TX (PSF-GTD)
4.00%
#(a)
8/1/2050
AAA 5,250,000
5,339,100
Florida Insurance Assistance Interlocal
Agency, Inc.
5.00%
9/1/2025
Aa2 25,540,000 25,589,336
Louisiana Stadium & Exposition District 5.00%
7/1/2035
A2 2,690,000
2,971,329
Louisiana Stadium & Exposition District 5.00%
7/1/2036
A2 4,325,000
4,760,335
New Caney Independent School District TX
(PSF-GTD)
4.00%
#(a)
2/15/2050
Aaa 6,500,000
6,610,352
Portland Community College District
OR GO
5.00%
6/15/2038
AA+ 3,500,000
3,914,133
S
e
e
N
o
t
e
s
t
o
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
.
3
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
(
u
n
a
u
d
i
t
e
d
)
(
c
o
n
t
i
n
u
e
d
)
S
H
O
R
T
D
U
R
A
T
I
O
N
T
A
X
F
R
E
E
F
U
N
D
D
e
c
e
m
b
e
r
3
1
,
2
0
2
4
Credit
Rating:
Interest Maturity S&P or Principal
Fair
Investments
Rate
Date Moody’s Amount
Value
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
(
u
n
a
u
d
i
t
e
d
)
(
c
o
n
t
i
n
u
e
d
)
S
H
O
R
T
D
U
R
A
T
I
O
N
T
A
X
F
R
E
E
F
U
N
D
D
e
c
e
m
b
e
r
3
1
,
2
0
2
4
Credit
Rating:
Interest Maturity S&P or Principal
Fair
Investments
Rate
Date Moody’s Amount
Value
General Obligation (continued)
Schenectady City School District NY
(ST AID WITHHLDG)
4.00%
7/25/2025
NR $15,000,000 $ 15,061,410
State of Illinois GO
5.00%
3/1/2025
A- 4,000,000
4,008,730
State of Illinois GO
5.00%
3/1/2025
A- 5,500,000
5,512,003
State of Illinois GO
5.00%
12/1/2025
A- 10,000,000 10,143,533
State of Illinois GO
5.00%
3/1/2026
A- 4,050,000
4,123,758
State of Illinois GO
5.00%
11/1/2027
A- 5,000,000
5,226,995
State of Illinois GO
5.00%
2/1/2028
A- 5,990,000
6,184,032
State of Illinois GO
5.00%
10/1/2029
A- 2,115,000
2,231,857
State of Illinois GO
5.00%
11/1/2030
A- 7,200,000
7,382,778
State of Illinois GO
5.00%
5/1/2037
A- 4,500,000
4,929,282
State of Maryland GO
4.00%
8/1/2028
AAA 5,000,000
5,187,379
State of New Jersey GO
5.00%
6/1/2027
A1 5,000,000
5,234,530
Washington Metropolitan Area Transit
Authority Dedicated Revenue DC
5.00%
7/15/2036
AA 5,000,000
5,401,490
Washington Metropolitan Area Transit
Authority Dedicated Revenue DC
5.00%
7/15/2036
AA 1,800,000
2,015,269
Total
185,369,756
Health Care 14.92%
Allegheny County Hospital Development
Authority - Allegheny Health Network
Obligated Group PA
5.00%
4/1/2026
A
2,500,000
2,547,831
Berks County Municipal Authority -
Tower Health Obligated Group PA Zero Coupon 6/30/2044
NR 1,399,000
985,914
Berks County Municipal Authority -
Tower Health Obligated Group PA
5.00%
6/30/2039
NR 2,801,000
2,703,377
Berks County Municipal Authority -
Tower Health Obligated Group PA
6.00%
6/30/2034
NR
208,897
223,641
Berks County Municipal Authority -
Tower Health Obligated Group PA
8.00%
6/30/2034
NR
416,899
423,393
Brevard County Health Facilities Authority -
Health First Inc Obligated Group FL
5.00%
4/1/2027
A
3,590,000
3,721,432
Brevard County Health Facilities Authority -
Health First Inc Obligated Group FL
5.00%
4/1/2028
A
3,720,000
3,913,734
California Health Facilities Financing
Authority - Adventist Health System/West
Obligated Group CA
5.00%
12/1/2037 BBB+ 8,000,000
8,621,601
California Health Facilities Financing
Authority - Providence St Joseph Health
Obligated Group
5.00%
#(a)
10/1/2039
A
7,500,000
7,582,490
4
S
e
e
N
o
t
e
s
t
o
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
.
Health Care (continued)
California Municipal Finance Authority -
Eisenhower Medical Center
5.00%
7/1/2026 Baa2 $ 1,345,000 $ 1,367,358
California Municipal Finance Authority -
Palomar Health Obligated Group COPS
†
5.00%
11/1/2027
BB+ 10,000,000
10,131,461
California Statewide Communities
Development Authority - John Muir
Health Obligated Group
5.00%
12/1/2038
A+ 4,500,000
5,133,295
Charlotte-Mecklenburg Hospital Authority -
Atrium Health Obligated Group NC
5.00%
#(a)
1/15/2050
AA 4,275,000
4,551,600
Chattanooga Health Educational &
Housing Facility Board - Erlanger Health
Obligated Group TN
5.00%
12/1/2035
A
3,085,000
3,394,797
Citizens Memorial Hospital District MO
5.00%
12/1/2026
NR 8,825,000
8,847,416
City of Colby KS - Citizens Medical
Center Inc
5.50%
7/1/2026
NR 5,600,000
5,611,445
City of Lenexa - Lakeview Village Inc KS 5.00%
5/15/2025
BB+
(
b)
990,000
990,642
City of Seneca - Nemaha Valley
Community Hospital KS
5.00%
9/1/2025
NR 2,000,000
2,003,489
Colorado Health Facilities Authority -
AdventHealth Obligated Group
5.00%
#(a)
11/15/2049
NR
185,000
191,225
Colorado Health Facilities Authority -
AdventHealth Obligated Group
5.00%
#(a)
11/15/2049
AA 1,825,000
1,883,165
County of Cuyahoga - MetroHealth
System OH
5.00%
2/15/2025
BBB 1,500,000
1,501,332
County of Lehigh - St Luke’s Hospital
Obligated Group PA
4.72%
(MUNIPSA * 1
+ 1.10%)
#
8/15/2038
A- 14,630,000 14,533,158
Crawford County Memorial Hospital Inc LA 5.00%
6/15/2027
NR 1,260,000
1,273,501
Gainesville & Hall County Hospital
Authority - Northeast Georgia Health
System Obligated Group GA
5.00% 10/15/2034
A
4,250,000
4,773,491
Harris County Cultural Education Facilities
Finance Corp. - Memorial Hermann Health
System Obligated Group TX
4.47%
(MUNIPSA * 1
+ .85%)
#
7/1/2049
AA- 11,000,000
11,002,455
Harris County Cultural Education Facilities
Finance Corp. - Memorial Hermann Health
System Obligated Group TX
5.00%
7/1/2037
AA- 6,000,000
6,687,835
Harris County Cultural Education Facilities
Finance Corp. - Memorial Hermann Health
System Obligated Group TX
5.00%
#(a)
7/1/2049
AA- 5,420,000
5,583,778
S
e
e
N
o
t
e
s
t
o
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
.
5
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
(
u
n
a
u
d
i
t
e
d
)
(
c
o
n
t
i
n
u
e
d
)
S
H
O
R
T
D
U
R
A
T
I
O
N
T
A
X
F
R
E
E
F
U
N
D
D
e
c
e
m
b
e
r
3
1
,
2
0
2
4
Credit
Rating:
Interest Maturity S&P or Principal
Fair
Investments
Rate
Date Moody’s Amount
Value
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
(
u
n
a
u
d
i
t
e
d
)
(
c
o
n
t
i
n
u
e
d
)
S
H
O
R
T
D
U
R
A
T
I
O
N
T
A
X
F
R
E
E
F
U
N
D
D
e
c
e
m
b
e
r
3
1
,
2
0
2
4
Credit
Rating:
Interest Maturity S&P or Principal
Fair
Investments
Rate
Date Moody’s Amount
Value
Health Care (continued)
Health & Educational Facilities Authority
of the State of Missouri - SSM Health Care
Obligated Group WA
5.00%
#(a)
6/1/2039
A+ $10,000,000 $ 10,485,951
Hospitals & Higher Education Facilities
Authority of Philadelphia - Temple
University Health Obligated Group PA
5.00%
7/1/2027
BBB 5,000,000
5,118,999
Illinois Finance Authority - Plymouth
Place Obligated Group
5.00%
5/15/2025
NR
270,000
271,698
Industrial Development Authority of
the County of Pima - La Posada at Park
Centre Inc Obligated Group AZ
†
5.125% 11/15/2029
NR 1,500,000
1,507,268
Kentucky Economic Development Finance
Authority - Owensboro Health Inc
Obligated Group
5.00%
6/1/2025
Baa2 1,400,000
1,401,754
Massachusetts Development Finance
Agency - Tufts Medicine Obligated Group 5.00%
7/1/2025
BBB-
800,000
804,614
Metropolitan Government Nashville &
Davidson County Health & Educational
Facilities Board - Vanderbilt University
Medical Center Obligated Group TN
5.00%
7/1/2028
A
1,500,000
1,586,695
New Jersey Health Care Facilities Financing
Authority - RWJ Barnabas Health
Obligated Group
5.00%
7/1/2037
AA- 3,055,000
3,439,300
New Jersey Health Care Facilities Financing
Authority - RWJ Barnabas Health
Obligated Group
5.00%
7/1/2038
AA- 2,500,000
2,802,735
New Jersey Health Care Facilities Financing
Authority - RWJ Barnabas Health
Obligated Group
5.00%
7/1/2039
AA- 5,000,000
5,583,035
New Jersey Health Care Facilities Financing
Authority - St Joseph’s Healthcare System
Obligated Group
5.00%
7/1/2025
BBB- 1,600,000
1,605,624
New York State Dormitory Authority -
Montefiore Obligated Group
5.00%
9/1/2027
BBB- 1,400,000
1,449,083
New York State Dormitory Authority -
Montefiore Obligated Group
5.00%
9/1/2028
BBB- 1,500,000
1,567,651
New York State Dormitory Authority -
Montefiore Obligated Group
5.00%
9/1/2029
BBB- 1,750,000
1,847,434
New York State Dormitory Authority -
Montefiore Obligated Group
5.00%
9/1/2030
BBB- 1,000,000
1,062,928
New York State Dormitory Authority -
White Plains Hospital Obligated Group
5.00%
10/1/2030
BBB-
375,000
400,578
6
S
e
e
N
o
t
e
s
t
o
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
.
Health Care (continued)
New York State Dormitory Authority -
White Plains Hospital Obligated Group
5.00%
10/1/2031 BBB- $ 1,000,000 $ 1,075,701
New York State Dormitory Authority -
White Plains Hospital Obligated Group
5.00%
10/1/2032
BBB- 1,000,000
1,081,243
New York State Dormitory Authority -
White Plains Hospital Obligated Group
5.00%
10/1/2033
BBB- 1,000,000
1,084,691
Northampton County General Purpose
Authority - St Luke’s Hospital Obligated
Group PA
5.00%
8/15/2027
A- 3,250,000
3,385,220
Oklahoma Development Finance Authority -
OU Medicine Obligated Group
5.00%
8/15/2025
BB
550,000
549,512
Oklahoma Development Finance Authority -
OU Medicine Obligated Group
5.00%
8/15/2026
BB
800,000
811,418
Pennsylvania Higher Educational Facilities
Authority - Thomas Jefferson University
Obligated Group
5.25%
11/1/2039
A
8,000,000
8,873,466
Shelby County Health Educational &
Housing Facilities Board - Baptist Memorial
Health Care Obligated Group TN
5.00%
#(a)
9/1/2049 BBB+ 8,750,000
9,221,999
South Carolina Jobs-Economic Development
Authority - Kiawah Life Plan Village Inc 5.25% 11/15/2028
NR 2,850,000
2,860,903
South Carolina Jobs-Economic Development
Authority - Novant Health Obligated Group 5.00%
11/1/2037
A+ 4,000,000
4,441,635
State of Ohio - University Hospitals Health
System Inc Obligated Group
5.00%
1/15/2027
A
250,000
258,159
Tarrant County Cultural Education Facilities
Finance Corp. - Baylor Scott & White Health
Obligated Group TX
5.00%
#(a)
11/15/2052
AA- 2,180,000
2,223,613
Tulsa County Industrial Authority -
Montereau Obligated Group OK
5.00% 11/15/2026
BBB-
(b)
500,000
504,140
Washington Health Care Facilities
Authority - CommonSpirit Health
Obligated Group
5.00%
8/1/2029
A- 3,425,000
3,674,001
Washington Health Care Facilities
Authority - CommonSpirit Health
Obligated Group
5.00%
8/1/2029
A- 3,500,000
3,754,454
Washington Health Care Facilities
Authority - CommonSpirit Health
Obligated Group
5.00%
#(a)
8/1/2049
A- 7,515,000
7,749,098
Winchester Economic Development
Authority - Valley Health Obligated
Group VA
5.00%
1/1/2039
A+ 1,350,000
1,492,399
S
e
e
N
o
t
e
s
t
o
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
.
7
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
(
u
n
a
u
d
i
t
e
d
)
(
c
o
n
t
i
n
u
e
d
)
S
H
O
R
T
D
U
R
A
T
I
O
N
T
A
X
F
R
E
E
F
U
N
D
D
e
c
e
m
b
e
r
3
1
,
2
0
2
4
Credit
Rating:
Interest Maturity S&P or Principal
Fair
Investments
Rate
Date Moody’s Amount
Value
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
(
u
n
a
u
d
i
t
e
d
)
(
c
o
n
t
i
n
u
e
d
)
S
H
O
R
T
D
U
R
A
T
I
O
N
T
A
X
F
R
E
E
F
U
N
D
D
e
c
e
m
b
e
r
3
1
,
2
0
2
4
Credit
Rating:
Interest Maturity S&P or Principal
Fair
Investments
Rate
Date Moody’s Amount
Value
Health Care (continued)
Wisconsin Health & Educational Facilities
Authority - Marshfield Clinic Health System
Obligated Group
5.00%
2/15/2029 BBB $ 6,200,000 $ 6,522,088
Wisconsin Health & Educational Facilities
Authority - Wisconsin Masonic Home
Obligated Group
4.20%
8/15/2028
BBB-
(b)
5,000,000
4,968,318
Total
225,652,261
Housing 8.73%
California Housing Finance Agency - Del
Sur Family Housing LP
5.00%
#(a)
5/1/2054
Aaa 1,750,000
1,796,327
Colorado Housing & Finance Authority
(GNMA)
6.00%
5/1/2053
AA 2,455,000
2,658,858
Connecticut Housing Finance Authority
4.00%
5/15/2049
AAA 2,665,000
2,674,033
Connecticut Housing Finance Authority
6.25%
5/15/2054
AAA 2,405,000
2,599,140
Michigan State Housing Development
Authority
4.25%
12/1/2049
AA+ 2,180,000
2,192,426
Michigan State Housing Development
Authority
6.25%
6/1/2055
AA+ 5,000,000
5,492,512
Minnesota Housing Finance Agency
(FHLMC), (FNMA), (GNMA)
4.25%
7/1/2049
AA+ 1,860,000
1,871,648
Minnesota Housing Finance Agency
(FHLMC), (FNMA), (GNMA)
5.00%
7/1/2053
AA+ 6,215,000
6,380,860
Minnesota Housing Finance Agency
(FHLMC), (FNMA), (GNMA)
6.25%
7/1/2054
AA+ 5,530,000
5,980,774
Minnesota Housing Finance Agency
(FHLMC), (FNMA), (GNMA)
6.25%
1/1/2055
AA+ 2,500,000
2,792,785
Minnesota Housing Finance Agency
(FHLMC), (FNMA), (GNMA)
6.50%
1/1/2055
AA+ 3,540,000
3,978,613
Missouri Housing Development Commission
(FHLMC), (FNMA), (GNMA)
3.25%
11/1/2052
AA+ 1,525,000
1,496,919
New Jersey Housing & Mortgage
Finance Agency
6.00%
10/1/2055
AA 3,560,000
3,846,871
New York City Housing Development
Corp. - 8 Spruce NY Owner LLC
4.00% 12/15/2031
Baa1
500,000
507,903
New York City Housing Development
Corp. - 8 Spruce NY Owner LLC
4.375% 12/15/2031
Baa3
500,000
506,300
New York State Housing Finance Agency
(FHA), (SONYMA)
0.75%
11/1/2025
Aa2
270,000
261,568
New York State Housing Finance Agency
(SONYMA)
0.75%
11/1/2025
Aa2 6,505,000
6,301,862
8
S
e
e
N
o
t
e
s
t
o
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
.
Housing (continued)
North Carolina Housing Finance Agency
(FHLMC), (FNMA), (GNMA)
4.00%
1/1/2050 AA+ $ 1,705,000 $ 1,706,528
North Carolina Housing Finance Agency
(FHLMC), (FNMA), (GNMA)
6.25%
1/1/2055
AA+ 5,415,000
5,854,114
North Dakota Housing Finance Agency
4.00%
1/1/2050
Aa1 2,455,000
2,462,019
Ohio Housing Finance Agency
(FHLMC), (FNMA), (GNMA)
6.25%
3/1/2055
Aaa 4,000,000
4,380,263
Seattle Housing Authority - Yesler
Block 6.6 LLLP WA (HUD)
5.00%
6/1/2027
AA 7,000,000
7,167,756
South Dakota Housing Development
Authority (FHLMC), (FNMA), (GNMA)
6.25%
5/1/2055
AAA 6,735,000
7,339,490
State of New York Mortgage Agency
Homeowner Mortgage Revenue
3.50%
4/1/2049
Aa1
545,000
540,708
Texas State Affordable Housing Corp. -
AHFC-FC Norman Housing LP
3.625%
#(a)
1/1/2045
Aaa 3,400,000
3,408,195
Utah Housing Corp. (FHLMC), (FNMA),
(GNMA)
6.25%
7/1/2055
Aa2 5,000,000
5,585,988
Virginia Beach Development Authority -
Westminster-Canterbury on Chesapeake
Bay Obligated Group
5.375%
9/1/2029
BB+
(b)
3,800,000
3,905,312
Virginia Housing Development Authority 3.625%
#(a)
7/1/2055
AAA 26,000,000 25,899,242
Wisconsin Housing & Economic Development
Authority - East National LLC
5.00%
#(a)
8/1/2058
Aaa 2,000,000
2,045,360
Wisconsin Housing & Economic Development
Authority Housing Revenue
3.75%
#(a)
11/1/2055
AA+ 8,500,000
8,457,823
Wisconsin Housing & Economic Development
Authority Housing Revenue (HUD)
0.81%
#(a)
11/1/2052
AA+ 2,035,000
2,008,091
Total
132,100,288
Lease Obligations 1.32%
Commonwealth of Pennsylvania COPS
5.00%
7/1/2025
A1
500,000
504,336
New Jersey Economic Development
Authority - New Jersey Transit Corp
5.00%
11/1/2028
A2 1,315,000
1,399,897
New Jersey Economic Development
Authority - State Capitol Joint
Management Commission
5.00%
6/15/2026
A2 4,000,000
4,105,198
New Jersey Economic Development
Authority - State of New Jersey
Department of the Treasury
5.00%
6/15/2025
A2 1,250,000
1,259,820
New Jersey Transportation Trust Fund
Authority
5.00% 12/15/2025
A2 12,500,000 12,712,605
Total
19,981,856
S
e
e
N
o
t
e
s
t
o
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
.
9
S
c
h
e
d
u
l
e
o
f
I
n
v
e
s
t
m
e
n
t
s
(
u
n
a
u
d
i
t
e
d
)
(
c
o
n
t
i
n
u
e
d
)
S
H
O
R
T
D
U
R
A
T
I
O
N
T
A
X
F
R
E
E
F
U
N
D
D
e
c
e
m
b
e
r
3
1
,
2
0
2
4
Credit
Rating:
Interest Maturity S&P or Principal
Fair
Investments
Rate
Date Moody’s Amount
Value