Investment Portfolioas of February 29, 2024 (Unaudited)
DWS Strategic High Yield Tax-Free Fund
 
 
Principal
Amount ($)
Value ($)
Municipal Investments 97.2%
Alabama 0.5%
Alabama, Black Belt Energy Gas District, Gas Project Revenue, Series D-1, 5.5% (a),
6/1/2049, GTY: Goldman Sachs Group, Inc.
800,000
852,210
Jefferson County, AL, Sewer Revenue, 5.5%, 10/1/2053
1,165,000
1,274,208
 
2,126,418
Arizona 3.0%
Arizona, State Health Facilities Authority Revenue, Banner Health Obligated Group:
Series B, MUNIPSA + 0.25%, 3.55% (a), 1/1/2046
1,730,000
1,704,763
Series B, Prerefunded, MUNIPSA + 0.25%, 3.55% (a), 1/1/2046
320,000
318,992
Arizona, State Industrial Development Authority, Education Facility Revenue, Odyssey
Preparatory Academy Project, 144A, 5.0%, 7/1/2049
2,760,000
2,474,759
Arizona, State Industrial Development Authority, Education Revenue, BASIS School
Projects:
Series G, 144A, 5.0%, 7/1/2047
1,000,000
954,872
Series D, 144A, 5.0%, 7/1/2051
1,035,000
974,710
Series G, 144A, 5.0%, 7/1/2051
550,000
517,962
Series A, 144A, 5.25%, 7/1/2047
1,000,000
987,998
Maricopa County, AZ, Industrial Development Authority, Education Revenue, Benjamin
Franklin Charter School Project, Series A, 144A, 6.0%, 7/1/2052
1,000,000
1,018,922
Phoenix, AZ, Industrial Development Authority, Student Housing Revenue, Downtown
Phoenix Student Housing LLC, Series A, 5.0%, 7/1/2037
2,000,000
2,048,723
Pima County, AZ, Industrial Development Authority, Education Revenue, American
Leadership Academy Project:
Series 2022, 144A, 4.0%, 6/15/2057
2,060,000
1,544,567
144A, 5.0%, 6/15/2049
1,030,000
966,711
144A, 5.0%, 6/15/2052
710,000
660,270
 
14,173,249
California 9.0%
California, Community Housing Agency, Essential Housing Revenue, Verdant at Green
Valley Project, Series A, 144A, 5.0%, 8/1/2049
1,135,000
1,081,604
California, CSCDA Community Improvement Authority, Essential Housing Revenue:
Series A-1, 144A, 3.5%, 10/1/2046
4,500,000
3,608,291
Series A, 144A, 5.0%, 7/1/2051
750,000
717,084
California, General Obligation, Series A-2, 3.65% (b), 3/1/2024, LOC: State Street B&T
Co.
100,000
100,000
California, Golden State Tobacco Securitization Corp., Tobacco Settlement Revenue:
Series B-2, Zero Coupon, 6/1/2066
5,000,000
569,163
Series B-1, 3.85%, 6/1/2050
2,675,000
2,448,312
California, Morongo Band of Mission Indians Revenue, Series B, 144A, 5.0%,
10/1/2042
1,145,000
1,146,341
California, M-S-R Energy Authority, Series B, 7.0%, 11/1/2034, GTY: Citigroup Global
Markets
5,750,000
7,298,235
California, Municipal Finance Authority, Barlow Respiratory Hospital Obligated Group,
Series A, 4.0%, 9/1/2040
1,635,000
1,526,276
California, Public Finance Authority Revenue, Sharp Healthcare Obligated Group:
Series B, 3.7% (b), 3/1/2024, LOC: Barclays Bank PLC
7,515,000
7,515,000
Series C, 3.7% (b), 3/1/2024, LOC: Barclays Bank PLC
550,000
550,000

California, River Islands Public Financing Authority, Special Tax, Community Facilities
District No. 2019-1, Phase 2 Public Improvements:
3.875%, 9/1/2049
2,630,000
2,173,672
4.0%, 9/1/2046
3,825,000
3,335,408
California, State Municipal Finance Authority Revenue, Catalyst Impact Fund 1 LLC,
“II”, 144A, 7.0%, 1/1/2039
3,365,000
3,540,240
California, State Public Finance Authority Revenue, ENSO Village Project:
Series A, 144A, 5.0%, 11/15/2046
270,000
235,832
Series A, 144A, 5.0%, 11/15/2051
135,000
114,776
California, Statewide Communities Development Authority Revenue, Loma Linda
University Medical Center, Series A, 5.5%, 12/1/2054
1,900,000
1,876,257
California, Statewide Communities Development Authority, Multi-Family Housing
Revenue, Foxwood Apartments Project, Series J, 2.51% (b), 3/7/2024, LOC: Wells
Fargo Bank NA
300,000
300,000
California, University of California Revenue, Series Z-2, 5.39% (b), 3/7/2024
300,000
300,000
Long Beach, CA, Carnival Cruise Terminal Financing, 144A, 7.282%, 11/1/2030,
GTY: Carnival Corp.
1,310,000
1,213,522
Los Angeles, CA, Department of Airports Revenue, Series A, AMT, 5.0%, 5/15/2037
2,375,000
2,645,131
 
42,295,144
Colorado 5.3%
Colorado, Aurora Highlands Community Authority Board, Special Tax Revenue,
Series A, 5.75%, 12/1/2051
5,000,000
4,663,465
Colorado, Broadway Station Metropolitan District No. 3, Series B, 0%–7.5%
12/1/2049(c)
2,000,000
1,297,390
Colorado, General Obligation, Series A, 144A, 5.0%, 12/1/2051
1,150,000
1,037,630
Colorado, North Range Metropolitan District No. 3, Series A, 5.25%, 12/1/2050
2,167,000
2,153,322
Colorado, Public Energy Authority, Natural Gas Purchased Revenue, 6.25%,
11/15/2028, GTY: Merrill Lynch & Co.
6,365,000
6,752,004
Colorado, State Health Facilities Authority, Hospital Revenue, CommonSpirit Health
Obligation Group, Series A-1, 4.0%, 8/1/2037
1,695,000
1,679,943
Colorado, Trails At Crowfoot Metropolitan District No. 3, Series A, 5.0%, 12/1/2049
1,000,000
962,146
Denver City & County, CO, Airport System Revenue:
Series B, AMT, 5.5%, 11/15/2040
365,000
418,464
Series B, AMT, 5.5%, 11/15/2042
335,000
380,478
Series B, AMT, 5.5%, 11/15/2043
335,000
378,605
Denver, CO, Convention Center Hotel Authority Revenue:
5.0%, 12/1/2033
500,000
510,967
5.0%, 12/1/2034
1,000,000
1,019,360
Denver, CO, Urban Renewal Authority, Tax Increment Revenue, 9th Urban
Redevelopment Area, Series A, 144A, 5.25%, 12/1/2039
1,695,000
1,718,693
Douglas County, CO, Rampart Range Metropolitan District No. 5:
4.0%, 12/1/2041
560,000
451,994
4.0%, 12/1/2051
1,590,000
1,187,739
 
24,612,200
District of Columbia 1.1%
District of Columbia, Latin American Montessori Bilingual Public Charter School,
5.0%, 6/1/2050
3,370,000
3,168,270
District of Columbia, Two Rivers Public Charter School, Inc., 5.0%, 6/1/2040
1,000,000
975,084
Metropolitan Washington, DC, Airport Authority, Dulles Toll Road Revenue, Series B,
3.0%, 10/1/2050, INS: AGMC
1,395,000
1,068,316
 
5,211,670
Florida 10.5%
Charlotte County, FL, Industrial Development Authority, Utility System Revenue, Town
& Country Utilities Project, Series A, 144A, AMT, 4.0%, 10/1/2051, GTY: Babcock
Ranch IRR LLC
750,000
605,824

Collier County, FL, Industrial Development Authority, Continuing Care Community
Revenue, Arlington of Naples Project, Series A, 144A, 8.125%, 5/15/2044(d)
1,722,553
46,509
Collier County, FL, State Educational Facilities Authority Revenue, Ave Maria
University Inc., 5.25%, 6/1/2038
1,315,000
1,357,593
Florida, Capital Project Finance Authority, Student Housing Revenue, Loan Program:
Series A-1, 5.0%, 10/1/2032
230,000
239,779
Series A-1, 5.0%, 10/1/2033
230,000
239,113
Series A-1, 5.0%, 10/1/2034
230,000
238,113
Series A-1, 5.0%, 10/1/2035
115,000
118,425
Florida, Capital Projects Finance Authority Revenue, Provident Group - Continuum
Properties LLC:
Series A-1, 5.0%, 11/1/2053
185,000
186,184
Series A-1, 5.0%, 11/1/2058
295,000
295,543
Florida, Capital Trust Agency, Educational Facilities Authority, Charter Educational
Foundation Project, Series A, 144A, 5.375%, 6/15/2048
1,840,000
1,727,264
Florida, Capital Trust Agency, Educational Growth Fund LLC, Charter School Portfolio
Project, Series A-1, 144A, 5.0%, 7/1/2056
1,190,000
1,083,794
Florida, Capital Trust Agency, Southeastern University Obligated Group Project:
Series A, 144A, 6.25%, 5/1/2048
2,000,000
2,026,208
Series A, 144A, 6.375%, 5/1/2053
800,000
812,938
Florida, Development Finance Corp., Brightline Holdings LLC, Series A, 144A, AMT,
8.0% (a), 7/1/2057
500,000
525,107
Florida, Development Finance Corp., Educational Facilities Revenue, River City Science
Academy Project:
Series A-1, 5.0%, 7/1/2042
75,000
77,095
Series B, 5.0%, 7/1/2042
80,000
82,235
Series A-1, 5.0%, 7/1/2051
70,000
70,376
Series B, 5.0%, 7/1/2051
115,000
115,618
Series A-1, 5.0%, 2/1/2057
100,000
99,916
Series B, 5.0%, 7/1/2057
120,000
119,897
Florida, Development Finance Corp., Surface Transportation Facilities Revenue,
Brightline Passenger Rail Project, Series B, 144A, AMT, 7.375%, 1/1/2049
1,500,000
1,537,476
Florida, Development Finance Corp., Surface Transportation Facilities Revenue, Virgin
Trains USA Passenger Rail Project, Series A, 144A, AMT, 6.5% (a), 1/1/2049
1,905,000
1,902,481
Florida, State Development Finance Corp., Learning Gate Community School Project:
Series A, 5.0%, 2/15/2038
500,000
505,949
Series A, 5.0%, 2/15/2048
1,150,000
1,154,269
Florida, State Development Finance Corp., Senior Living Revenue, The Cabana at
Jensen Dunes Project:
Series A, 144A, 5.0%, 11/15/2056
1,000,000
723,620
Series A, 144A, 5.25%, 11/15/2056
9,000,000
6,793,805
Florida, State Higher Educational Facilities Financial Authority Revenue, Florida
Institute of Technology:
4.0%, 10/1/2044
1,395,000
1,230,592
4.0%, 10/1/2049
1,905,000
1,605,296
Florida, State Higher Educational Facilities Financial Authority Revenue, Jacksonville
University Project, Series A-1, 144A, 4.75%, 6/1/2038
1,750,000
1,662,874
Florida, Village Community Development District No. 12, Special Assessment Revenue:
4.25%, 5/1/2043
2,275,000
2,140,473
4.375%, 5/1/2050
1,905,000
1,757,260
Florida, Village Community Development District No. 13, Special Assessment Revenue,
3.25%, 5/1/2052
1,675,000
1,258,551
Florida, Village Community Development District No. 14, 5.5%, 5/1/2053
2,640,000
2,737,908
Florida, Village Community Development District No. 15, Special Assessment Revenue,
144A, 5.25%, 5/1/2054
720,000
740,043
Jacksonville, FL, Educational Facilities Revenue, Jacksonville University Project,
Series B, 144A, 5.0%, 6/1/2053
3,250,000
2,932,005
Lake County, FL, Educational Facilities Revenue, Imagine South Lake Charter School
Project, Series A, 144A, 5.0%, 1/15/2054
2,070,000
1,874,062
Miami-Dade County, FL, Seaport Revenue, Series A, AMT, 5.0%, 10/1/2040
1,500,000
1,616,031

Osceola County, FL, Transportation Revenue:
Series A2, Zero Coupon, 10/1/2049
3,400,000
894,439
Series A2, Zero Coupon, 10/1/2051
4,775,000
1,125,539
Series A2, Zero Coupon, 10/1/2054
4,570,000
912,310
Palm Beach County, FL, Health Facilities Authority Revenue, Lifespace Communities,
Inc. Obligated Group:
Series C, 7.5%, 5/15/2053
340,000
367,383
Series C, 7.625%, 5/15/2058
455,000
491,347
Seminole County, FL, Industrial Development Authority, Legacy Pointe At UCF Project:
Series A, 5.25%, 11/15/2039
445,000
371,481
Series A, 5.5%, 11/15/2049
3,635,000
2,862,799
 
49,265,524
Georgia 1.9%
George L Smith II, GA, Congress Center Authority, Convention Center Hotel First Tier,
Series A, 4.0%, 1/1/2054
1,420,000
1,264,503
George L Smith II, GA, Congress Center Authority, Convention Center Hotel Second
Tier, Series B, 144A, 5.0%, 1/1/2054
3,365,000
3,035,513
Georgia, Main Street Natural Gas, Inc., Gas Supply Revenue, Series B, 5.0% (a),
7/1/2053, GTY: Royal Bank of Canada
4,110,000
4,361,857
 
8,661,873
Illinois 5.5%
Chicago, IL, Board of Education:
Series B, 4.0%, 12/1/2035
2,500,000
2,468,586
Series A, 5.0%, 12/1/2033
740,000
759,329
Series A, 6.0%, 12/1/2049
1,400,000
1,553,470
Chicago, IL, General Obligation:
Series B, 4.0%, 1/1/2036
950,000
964,987
Series A, 6.0%, 1/1/2038
2,180,000
2,285,132
Illinois, Housing Development Authority Revenue:
Series B, 3.0%, 4/1/2051
3,215,000
3,113,987
Series E, 5.25%, 10/1/2052
3,810,000
3,963,237
Illinois, State Finance Authority Revenue, Friendship Village of Schaumburg, 5.125%,
2/15/2045*(d)
7,935,000
2,142,450
Illinois, State General Obligation:
5.0%, 11/1/2034
1,500,000
1,551,198
Series A, 5.0%, 12/1/2042
3,610,000
3,704,226
5.5%, 5/1/2039
1,535,000
1,696,997
5.75%, 5/1/2045
1,470,000
1,614,253
 
25,817,852
Indiana 1.9%
Indiana, State Finance Authority Revenue, Educational Facilities, Rock Creek
Community Academy Inc., Project:
Series A, 144A, 5.875%, 7/1/2038
1,340,000
1,351,302
Series A, 144A, 6.125%, 7/1/2048
3,660,000
3,687,200
Indiana, State Housing & Community Development Authority, Single Family Mortgage
Revenue, Series C-1, 5.0%, 7/1/2053
690,000
712,172
Indianapolis, IN, Local Public Improvement Bond Bank, Airport Authority Project:
Series E, 6.0%, 3/1/2053
595,000
640,563
Series E, 6.125%, 3/1/2057
300,000
323,866
Series F, 7.75%, 3/1/2067
2,000,000
2,113,184
 
8,828,287
Iowa 1.6%
Iowa, State Finance Authority Revenue, Lifespace Communities, Inc. Obligated Group,
Series B, 7.5%, 5/15/2053
455,000
491,645

Iowa, State Higher Education Loan Authority Revenue, Des Moines University Project,
4.0%, 10/1/2050
5,210,000
4,632,977
Iowa, State Student Loan Liquidity Corp., Senior Revenue, Series B, AMT, 3.0%,
12/1/2039
250,000
239,660
Iowa, Tobacco Settlement Authority Revenue:
“2", Series B-2, Zero Coupon, 6/1/2065
3,555,000
492,630
“2", Series B1, 4.0%, 6/1/2049
1,550,000
1,565,494
 
7,422,406
Kansas 0.2%
Wyandotte County, KS, Unified Government, Legends Apartments Garage & West Lawn
Project, 4.5%, 6/1/2040
1,195,000
1,134,292
Kentucky 0.3%
Kentucky, State Economic Development Finance Authority, Owensboro Health, Inc.,
Obligated Group, Series A, 5.25%, 6/1/2041
1,275,000
1,300,904
Louisiana 0.1%
Louisiana, Public Facilities Authority Revenue, Ochsner Clinic Foundation Project,
Prerefunded, 5.0%, 5/15/2047
10,000
10,413
Louisiana, State Gasoline & Fuels Tax Revenue, Series A-1, 3.65% (b), 3/1/2024,
LOC: Toronto-Dominion Bank
600,000
600,000
 
610,413
Massachusetts 1.1%
Massachusetts, State Development Finance Agency Revenue, Springfield College,
Series A, 4.0%, 6/1/2056
450,000
368,086
Massachusetts, State Educational Financing Authority:
Series B, AMT, 3.0%, 7/1/2035
90,000
89,128
Series B, AMT, 4.25%, 7/1/2044
3,800,000
3,772,918
Massachusetts, State Educational Financing Authority, Educational Loan Revenue
Bonds, Issue M, Series B, AMT, 2.0%, 7/1/2037
1,000,000
871,642
 
5,101,774
Michigan 1.7%
Kentwood, MI, Economic Development Corp., Holland Home Obligated Group,
Series 2022, 4.0%, 11/15/2043
1,500,000
1,201,923
Michigan, Finance Authority Higher Facilities, Ltd. Obligation Revenue, Kettering
University Project:
4.0%, 9/1/2045
1,775,000
1,656,611
4.0%, 9/1/2050
1,660,000
1,491,092
Michigan, State Finance Authority Revenue, Detroit Water & Sewer Department,
Series C, 5.0%, 7/1/2035
910,000
920,974
Michigan, State Finance Authority Revenue, Tobacco Settlement Revenue:
“1", Series A, 4.0%, 6/1/2049
1,000,000
916,488
Series A2, 5.0%, 6/1/2040
1,770,000
1,860,764
 
8,047,852
Minnesota 1.2%
Minnesota, State Housing Finance Agency, Series I, 5.0%, 7/1/2053
3,805,000
3,929,689
Minnesota, State Office of Higher Education Revenue, AMT, 2.65%, 11/1/2038
1,895,000
1,682,352
 
5,612,041
Missouri 1.7%
Kansas City, MO, Land Clearance Redevelopment Authority Project Revenue,
Convention Center Hotel Project, Series A, 144A, 6.25%, 4/15/2049
3,750,000
3,205,344

Missouri, State Health & Educational Facilities Authority Revenue, Medical Research,
Lutheran Senior Services:
4.0%, 2/1/2042
1,450,000
1,253,347
Series A, 5.0%, 2/1/2046
665,000
638,460
St. Louis, MO, Industrial Development Authority Financing Revenue, Ballpark Village
Development Project, Series A, 4.75%, 11/15/2047
3,875,000
2,974,368
 
8,071,519
Nevada 1.1%
Nevada, Tahoe Douglas Visitors Authority, Stateline Revenue:
5.0%, 7/1/2040
1,000,000
1,025,048
5.0%, 7/1/2045
1,000,000
1,009,888
5.0%, 7/1/2051
1,000,000
1,001,030
Reno, NV, Sales Tax Revenue, Transportation Rail Access, Series C, 144A, Zero
Coupon, 7/1/2058
16,000,000
2,130,370
 
5,166,336
New Hampshire 0.0%
New Hampshire, State Health & Educational Facilities Authority Revenue, Hillside
Village:
Series A, 144A, 6.125%, 7/1/2037*(d)
726,970
14,539
Series A, 144A, 6.25%, 7/1/2042*(d)
880,441
17,609
 
32,148
New Jersey 2.7%
New Jersey, State Covid-19 General Obligation Emergency Bonds, Series A, 4.0%,
6/1/2031
415,000
451,138
New Jersey, State Economic Development Authority Revenue, Series SSS, 5.25%,
6/15/2038(e)
400,000
466,954
New Jersey, State Economic Development Authority Revenue, Black Horse EHT Urban
Renewal LLC Project, Series A, 144A, 5.0%, 10/1/2039*(d)
3,795,000
2,514,825
New Jersey, State Economic Development Authority Revenue, White Horse HMT Urban
Renewal LLC Project, 144A, 5.0%, 1/1/2040*(d)
1,625,000
1,127,854
New Jersey, State Economic Development Authority, Special Facilities Revenue,
Continental Airlines, Inc. Project, Series B, AMT, 5.625%, 11/15/2030
2,500,000
2,525,805
New Jersey, State Higher Education Assistance Authority, Student Loan Revenue:
Series B, AMT, 3.25%, 12/1/2039
780,000
743,715
Series B, AMT, 3.5%, 12/1/2039
1,175,000
1,134,805
Series C, AMT, 5.0%, 12/1/2053
605,000
588,066
New Jersey, State Housing & Mortgage Finance Agency, Single Family Housing
Revenue, Series I, 5.0%, 10/1/2053
1,160,000
1,200,362
New Jersey, Transportation Trust Fund Authority, Series BB, 4.0%, 6/15/2040
2,025,000
2,055,030
 
12,808,554
New Mexico 0.5%
New Mexico, State Mortgage Finance Authority, “I”, Series D, 3.25%, 7/1/2044
2,460,000
2,147,888
New York 7.0%
Buffalo & Erie County, NY, Industrial Land Development Corp., D'Youville College
Project:
Series A, 4.0%, 11/1/2040
1,200,000
1,070,515
Series A, 4.0%, 11/1/2050
2,500,000
2,042,756
Monroe County, NY, Industrial Development Corp. Revenue, St. Ann's Community
Project, 5.0%, 1/1/2050
4,750,000
3,768,963
New York, Brooklyn Arena Local Development Corp., Pilot Revenue, Barclays Center
Project, Series A, 4.0%, 7/15/2035, INS: AGMC
455,000
457,938

New York, Metropolitan Transportation Authority Revenue:
Series G-1, 3.51% (b), 3/7/2024, LOC: TD Bank NA
100,000
100,000
Series 2012-G1, 3.78% (b), 3/1/2024, LOC: Barclays Bank PLC
1,800,000
1,800,000
Series E-1, 3.78% (b), 3/1/2024, LOC: Barclays Bank PLC
420,000
420,000
New York, State Dormitory Authority Revenues, Non-State Supported Debt, The New
School:
Series A, 4.0%, 7/1/2047
500,000
475,794
Series A, 4.0%, 7/1/2052
590,000
539,908
New York, State Transportation Development Corp., Special Facilities Revenue, Delta
Air Lines, Inc., LaGuardia Airport C&D Redevelopment, AMT, 5.625%, 4/1/2040
1,290,000
1,401,635
New York, State Transportation Development Corp., Special Facilities Revenue, John F.
Kennedy International Airport Project:
AMT, 3.0%, 8/1/2031, GTY: American Airlines Group, Inc.
500,000
465,782
AMT, 4.0%, 12/1/2042
1,200,000
1,127,184
AMT, 5.375%, 8/1/2036
900,000
940,415
AMT, 5.375%, 6/30/2060
2,085,000
2,188,992
AMT, 6.0%, 6/30/2054
250,000
275,367
New York, TSASC, Inc.:
Series A, 5.0%, 6/1/2041
595,000
604,733
Series B, 5.0%, 6/1/2048
2,800,000
2,533,722
New York City, NY, Housing Development Corp., Multi-Family Housing Revenue:
Series E-1, 2.8%, 11/1/2034
4,340,000
3,920,654
Series E-1, 3.0%, 11/1/2039
2,355,000
2,065,180
New York Counties, NY, Tobacco Trust IV, Series F, Zero Coupon, 6/1/2060
35,000,000
2,558,357
New York, NY, General Obligation, Series G-6, 3.5% (b), 3/1/2024, LOC: Mizuho Bank
Ltd.
1,565,000
1,565,000
Orange County, NY, Senior Care Revenue, Industrial Development Agency, The Glen
Arden Project, Series A, 5.7%, 1/1/2028*(d)
2,125,000
1,381,250
Westchester County, NY, Local Development Corp., Health Care Corp. Obligated Group
Revenue, 5.75%, 11/1/2053, INS: AGMC
1,000,000
1,157,664
 
32,861,809
North Carolina 0.4%
North Carolina, State Education Assistance Authority Revenue, Series A, AMT, 5.0%,
6/1/2043
660,000
674,779
North Carolina, State Housing Finance Agency, Series 42, 4.0%, 1/1/2050
1,155,000
1,148,742
 
1,823,521
North Dakota 0.1%
City of Grand Forks, ND, Altru Health System Obligated Group Revenue, Series A,
5.0%, 12/1/2053, INS: AGMC
315,000
331,222
Ohio 4.0%
Buckeye, OH, Tobacco Settlement Financing Authority:
“2", Series B-3, Zero Coupon, 6/1/2057
15,000,000
1,573,059
“2", Series B-2, 5.0%, 6/1/2055
4,300,000
4,103,739
Hamilton County, OH, Health Care Revenue, Life Enriching Communities Project:
5.0%, 1/1/2051
1,270,000
1,166,403
Series A, 5.0%, 1/1/2052
1,000,000
915,822
Series A, 5.75%, 1/1/2053
380,000
391,627
Ohio, Akron, Bath & Copley Joint Township Hospital District Revenue, 5.25%,
11/15/2046
1,575,000
1,605,391
Ohio, State Air Quality Development Authority, Exempt Facilities Revenue, Pratt
Paper LLC Project:
144A, AMT, 4.25%, 1/15/2038, GTY: Pratt Industries, Inc.
725,000
713,770
144A, AMT, 4.5%, 1/15/2048, GTY: Pratt Industries, Inc.
3,115,000
2,987,190
Ohio, State Hospital Revenue, Aultman Health Foundation, 144A, 5.0%, 12/1/2048
6,000,000
5,389,501
 
18,846,502

Oklahoma 0.9%
Oklahoma, State Development Finance Authority, Health System Revenue, OU
Medicine Project:
Series B, 5.25%, 8/15/2048
1,545,000
1,561,740
Series A, 5.5%, 8/15/2041
1,360,000
1,352,994
Series A, 5.5%, 8/15/2044
1,445,000
1,421,135
 
4,335,869
Pennsylvania 1.5%
Chester County, PA, Industrial Development Authority, Special Obligation Revenue,
Woodlands at Graystone Neighborhood Improvement Project, 144A, 5.125%,
3/1/2048
403,000
386,373
Lancaster County, PA, Hospital Authority, Brethren Village Project:
5.125%, 7/1/2037
900,000
855,294
5.25%, 7/1/2041
900,000
852,862
Pennsylvania, Higher Education Assistance Agency Education Loan Revenue, Series A,
AMT, 2.45%, 6/1/2041
2,970,000
2,558,639
Pennsylvania, State Economic Development Financing Authority Revenue, UPMC
Obligated Group, Series A-2, 4.0%, 5/15/2043
875,000
854,926
Pennsylvania, State Housing Finance Agency, Single Family Mortgage Revenue,
Series 132A, 3.5%, 4/1/2051
995,000
983,714
Pennsylvania, State Turnpike Commission Revenue, Series A-1, 5.0%, 12/1/2041
20,000
20,354
Philadelphia, PA, Authority For Industrial Development, Philadelphia Electrical and
Technology Charter High School Project, Series A, 4.0%, 6/1/2051
875,000
682,503
 
7,194,665
South Carolina 1.0%
South Carolina, Public Service Authority Revenue, Series A, 4.0%, 12/1/2055
1,000,000
903,845
South Carolina, State Public Service Authority Revenue:
Series B, 4.0%, 12/1/2047
1,820,000
1,741,806
Series A, 4.0%, 12/1/2052
2,160,000
2,000,596
 
4,646,247
South Dakota 0.4%
Lincon County, SD, Economic Development Revenue, Augustana College Association
Project, Series A, 4.0%, 8/1/2056
2,050,000
1,692,848
Tennessee 1.5%
Metropolitan Nashville, TN, Airport Authority Revenue:
Series B, AMT, 4.0%, 7/1/2049
1,000,000
933,625
Series B, AMT, 4.0%, 7/1/2054
500,000
454,608
Nashville & Davidson County, TN, Metropolitan Development & Housing Agency, Tax
Increment Revenue, Fifth Broadway Development District, 144A, 5.125%, 6/1/2036
900,000
919,261
Nashville & Davidson County, TN, Metropolitan Government Health & Education
Facilities Board Revenue, Blakeford At Green Hills Corp., Series A, 4.0%, 11/1/2055
4,000,000
2,823,897
Tennessee, New Memphis Arena Public Building Authority, City of Memphis Project,
0%–4.0% 4/1/2031(c)
750,000
691,396
Tennessee, State Energy Acquisition Corporation Revenue, Series A, 5.0% (a), 5/1/2052,
GTY: Goldman Sachs Group, Inc.
1,200,000
1,270,306
 
7,093,093
Texas 8.9%
Central Texas, Regional Mobility Authority Revenue, Capital Appreciation:
Zero Coupon, 1/1/2030
5,000,000
4,081,817
Zero Coupon, 1/1/2032
3,500,000
2,642,310
Clifton, TX, Higher Education Finance Corp., Education Revenue, Series D, 6.125%,
8/15/2048
4,485,000
4,591,902

Dallas, TX, Kay Bailey Hutchison Convention Center Project, Senior Lien, Special Tax,
144A, 6.0% (a), 8/15/2053
3,015,000
3,056,348
Matagorda County, TX, Navigation District No. 1, Pollution Control Revenue, AEP
Texas Central Co. Project, Series A, 4.4%, 5/1/2030, INS: AMBAC
4,000,000
4,068,665
Newark, TX, Higher Education Finance Corp., Texas Revenue, Abilene Christian
University Project, Series A, 4.0%, 4/1/2057
3,715,000
3,260,401
San Antonio, TX, Education Facilities Corp., Higher Education Revenue, Hallmark
University Project:
Series A, 5.0%, 10/1/2041
450,000
383,227
Series A, 5.0%, 10/1/2051
735,000
584,173
Temple, TX, Tax Increment, Reinvestment Zone No. 1:
Series A, 4.0%, 8/1/2039, INS: BAM
170,000
172,422
Series A, 4.0%, 8/1/2041, INS: BAM
235,000
235,608
Series A, 5.0%, 8/1/2038
2,830,000
2,838,088
Texas, Industrial Development Corp. Revenue, Energy Transfer LP, 4.05% (a), 11/1/2050
1,275,000
1,293,561
Texas, New Hope Cultural Education Facilities Finance Corp. Revenue, Bridgemoor
Plano Project:
Series A-2, Zero Coupon, 12/31/2030
1,172,249
655,856
Series A-1, 7.25%, 12/31/2030
6,105,000
6,075,006
Texas, New Hope Cultural Education Facilities Finance Corp., Educational Revenue,
Cumberland Academy Project, Series A, 144A, 5.0%, 8/15/2050
3,550,000
3,294,692
Texas, New Hope Cultural Education Facilities Finance Corp., Retirement Facilities
Revenue, Westminster Project, 4.0%, 11/1/2049
150,000
131,191
Texas, Private Activity Bond, Surface Transportation Corp. Revenue, North Tarrant
Express, AMT, 5.5%, 12/31/2058
1,485,000
1,634,627
Texas, State Municipal Gas Acquisition & Supply Corp. I, Gas Supply Revenue,
Series D, 6.25%, 12/15/2026, GTY: Merrill Lynch & Co.
2,360,000
2,450,868
 
41,450,762
Utah 1.5%
Utah, Infrastructure Agency Telecommunication Revenue:
Series A, 4.0%, 10/15/2036
1,565,000
1,511,040
Series A, 4.0%, 10/15/2041
600,000
538,969
Series A, 4.0%, 10/15/2042
785,000
696,563
Utah, State Charter School Finance Authority, St. George Campus Project, Series A,
144A, 5.0%, 6/15/2052
1,130,000
885,270
Utah, State Charter School Financing Authority Revenue, Freedom Academy Foundation
Project, 144A, 5.375%, 6/15/2048
3,990,000